Cointelegraph

Bitmine Immersion Technologies’ growing Ethereum staking position may translate into roughly $160 million in annual staking revenue at current rates, as more of its Ether holdings are put to work onchain.

Bitmine, the largest publicly traded Ether treasury, said it added 40,302 Ether (ETH) over the past week, lifting total holdings to 4,243,338 million ETH. Bitmine's staked ETH balance jumped by 171,264 ETH over the period, bringing total staked holdings to 2,009,267 ETH.

Based on the 2.81% Composite Ethereum Staking Rate (CESR) cited by the company, a benchmark designed to estimate the annualized yield of Ethereum validators, Bitmine’s staked Ether position would translate into $164 million in annualized revenue based on ETH price at time of writing.

Chairman Tom Lee said that if all of the company’s Ether were staked, the operation would generate about $374 million annually or or “greater than $1 million per day,"  based on the same CESR benchmark.

The company is working with multiple staking providers and plans to launch its own US-based validator infrastructure in 2026, which would allow it to internalize staking operations.

Along with its ETH holdings, Bitmine reported holding $682 million in cash, 193 Bitcoin (BTC) and minority equity investments, bringing total crypto and cash holdings to $12.8 billion.

Bitmine’s ETH holdings now account for 3.52% of the token's circulating supply, based on an estimated 120.7 million ETH outstanding. The company’s goal is to acquire 5% of the total ETH supply.

Staking emerges as a core strategy for Ether companies

Bitmine is not the only digital asset treasury to stake a large portion of its holdings to earn protocol rewards. SharpLink Gaming has also disclosed generating staking yield from its Ether treasury as part of a fully staked ETH strategy.

On Jan. 9, SharpLink Gaming said that it generated 10,657 Ether, worth about $33 million, in staking rewards over the past seven months, according to data published on the company’s dashboard.

SharpLink is currently the second largest Ether treasury company with 864,840 ETH, according to CoinGecko data.

Source: SharpLink

Staking, the process of locking tokens to help secure proof-of-stake blockchain networks in exchange for protocol-issued rewards, has been a primary motive for several companies that pivoted to Ether treasury strategies in 2025.

In June, Bit Digital announced plans to wind down or sell its Bitcoin (BTC) mining infrastructure and use the proceeds to increase its Ether holdings. At the time of writing, Bit Digital held 153,546 ETH and only six BTC, according to data from CoinGecko.

About a month later, Ether Machine announced plans to launch a publicly traded, yield-focused Ether vehicle aimed at institutional investors. Ether Machine is now the third largest Ether treasury company, with 496,712 ETH.

The rising demand for Ether staking has become increasingly visible in Ethereum’s validator queue data. On Jan. 17, Cointelegraph reported that Ethereum’s staking exit queue had fallen to zero, while more than 2.6 million ETH waited to enter staking, the largest entry backlog since mid-2023. 

Top 10 Ether treasury companies. Source: CoinGecko

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Key takeaways:

Bitcoin market data shows that pro traders are avoiding risk and paying extra to protect against a price drop.

Gold is hitting record highs, but Bitcoin remains stuck as investors favor traditional safe havens.

Bitcoin (BTC) rose 1.5% following a retest of the $86,000 level on Sunday as traders weigh the risks of a US federal government shutdown by Saturday. This week features multiple high-stakes catalysts, including earnings reports from global tech giants and the US Federal Reserve's monetary policy decision on Wednesday.

Despite gold hitting record highs, Bitcoin traders remain cautious. Derivatives metrics suggest skepticism regarding further gains; demand for leveraged bullish positions is weak, and professional traders are currently pricing in higher odds of a negative price swing in the options markets.

BTC 2-month futures basis rate. Source: laevitas.ch

The annualized BTC futures premium (basis rate) stood at 5% on Monday. This level is barely enough to compensate for the longer settlement periods inherent in these derivative contracts. Typically, when traders turn bullish, this indicator jumps above 10%. Conversely, bearish periods can cause the rate to turn negative. Overall, market sentiment has remained neutral-to-bearish for the past two weeks.

Bitcoin 30-day options delta skew (put-call) at Deribit. Source: laevitas.ch

Similarly, the BTC options delta skew reached 12% on Monday. This indicates that put (sell) options are trading at a premium, reflecting a strong reluctance among traders to hold downside exposure. In a neutral market, this indicator usually fluctuates between -6% and +6%. The last time the skew reached these levels was Dec. 1, when Bitcoin plummeted from $91,500 to $83,900 in just a few hours.

Bitcoin lags as gold surges amid rising US debasement fears

Attributing Bitcoin’s bearish momentum solely to the US fiscal standoff seems counterintuitive, especially as the S&P 500 climbed 0.6% on Monday. Meanwhile, gold surged to $5,100 for the first time in history. This rally has led analysts to wonder if a "debasement trade" is accelerating. While the US dollar losing value against scarce assets is a common theme, it currently reflects a broader lack of trust that is not necessarily translating into immediate gains for Bitcoin.

Investors have become increasingly risk-aware after the Federal Reserve Bank of New York signaled a potential rescue of the Japanese yen—a move not seen since 1998. Over the past year, other major fiat currencies have outperformed the US dollar, making US imports more expensive and exerting upward pressure on inflation. If the Fed proceeds with an intervention, traders may interpret the move as a desperate measure to stabilize global markets.

US Dollar Strength Index (left) vs. gold/USD(right). Source: TradingView

The US Dollar Strength Index (DXY) dropped below 97 for the first time in four months on Monday as traders sought protection in rival fiat currencies. 

Interestingly, even with 5-year US Treasury yields surpassing those of Europe and Japan at 3.8%, investors are still bracing for higher US inflation. It is becoming increasingly evident that the US will adopt a softer monetary policy, particularly as Fed Chair Jerome Powell’s mandate ends in April.

US President Donald Trump has made it clear that Powell’s successor must focus on trimming Fed funds rates. Such a move would provide more breathing room for the US Treasury by reducing interest expenses. While a more expansionary monetary policy typically supports the stock market, it does not always create an immediate or direct incentive for Bitcoin investment.

Related: Crypto funds see $1.7B outflows, biggest since November 2025

If corporate earnings from major tech companies surprise to the upside this week, there may be even less incentive for investors to rotate into alternative scarce assets. Ultimately, Bitcoin’s path to reclaiming the $93,000 level hinges on professional traders regaining their confidence. This recovery might take longer than expected as macroeconomic shifts and the corporate earnings season dominate the spotlight this week.

Valour, the UK subsidiary of digital asset company DeFi Technologies, has secured regulatory approval to offer crypto exchange-traded products to retail investors on the London Stock Exchange.

In a Monday notice, DeFi Technologies said the UK’s Financial Conduct Authority (FCA) had approved Valour’s exchange-traded products tied to Bitcoin (BTC) and Ether (ETH) staking. The offerings, called 1Valour Bitcoin Physical Staking and 1Valour Ethereum Physical Staking, began trading on the London Stock Exchange on Monday.

“The UK is one of the world's most important financial markets, and these approvals broaden our ability to serve UK retail investors with transparent, exchange-listed products that provide straightforward exposure to the evolving digital asset economy,” said Johan Wattenström, DeFi Technologies chairman and CEO.

The company announced in September that it would list a Bitcoin staking ETP on the London Stock Exchange, but this was limited to professional investors, in contrast to Monday’s offering, which was targeted to UK retail investors. The FCA lifted a ban on crypto ETPs for retail investors in October, prompting offerings from asset managers such as Bitwise.

The move by Valour builds upon the company’s efforts in Brazil, where it launched an exchange-traded product tied to Solana (SOL) in December. Cointelegraph reached out to Valour for comment, but had not received a response at the time of publication.

According to the London Stock Exchange, more than 50 issuers list more than 2,300 ETPs. The exchange reportedly recorded about $280 million in trading volume for crypto ETPs in December.

Largest outflows on record for crypto ETPs

CoinShares reported on Monday that exchange-traded products tied to cryptocurrencies saw more than $1.7 billion of outflows last week.

The company’s head of research, James Butterfill, attributed the change from $2.2 billion of inflows the previous week to “dwindling expectations for interest rate cuts, negative price momentum and disappointment that digital assets have not participated in the debasement trade.”

Some of the largest asset managers offering crypto ETPs and exchange-traded funds include Grayscale Investments, Fidelity Investments and BlackRock.

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Global asset manager VanEck has launched a US-listed exchange-traded product offering exposure to Avalanche’s native token, AVAX (AVAX), marking the first spot Avalanche ETF to trade in the United States.

According to Monday’s announcement, the product is not registered under the Investment Company Act of 1940, though it may be subject to other US securities laws.

The fund will trade under the ticker VAVX, tracking the price of Avalanche’s AVAX token and potentially generating returns through staking. VanEck said it will waive sponsor fees on the ETF’s first $500 million in assets through Feb. 28. Assets over $500 million before Feb. 28 will be charged a 0.20% sponsor fee, which will apply to all assets after that date.

Kyle DaCruz, director of digital assets product at VanEck, told Cointelegraph that the ETF wrapper opens access to the RIA and wealth management market, as well as for institutions to capture “network yield through a standard exchange-traded product without the risk or complexity of managing the infrastructure themselves.”

Avalanche is an open-source blockchain network for decentralized applications and smart contracts that went live in September 2020 and is developed by Ava Labs, a startup founded by Cornell University computer scientist Emin Gün Sirer.

AVAX had a market capitalization of $5.1 billion at the time of writing and was trading at $11.76. The token is down about 92% from its November 2021 all-time high of $144.96 and about 69% over the past year, according to CoinGecko data.

AVAX price performance over the past year. Source: CoinGecko

VanEck first sought to launch an Avalanche ETF in March 2025, when it filed an S-1 registration statement with US regulators. In April 2025, Nasdaq followed with a rule-change filing requesting approval to list and trade the proposed Avalanche ETF, a required step before the product could come to market.

The fund’s launch may pave the way for additional Avalanche spot ETFs that are already in the regulatory pipeline. Grayscale Investments currently operates an Avalanche trust and filed in August 2025 to convert the product into a spot ETF, while Bitwise Asset Management submitted an S-1 registration for an AVAX spot ETF in September 2025.

Crypto ETFs expand beyond simple price exposure

According to an X post from Bloomberg senior ETF analyst Eric Balchunas, on Monday BlackRock filed an S-1 registration statement for its proposed iShares Bitcoin Premium Income ETF, which seeks to track Bitcoin’s (BTC) price while generating income by selling call options primarily on shares of its spot Bitcoin ETF, IBIT.

Source: Eric Balchunas

The filing reflects a broader shift in crypto exchange-traded products, as issuers increasingly design ETFs that combine digital assets with portfolio strategies and risk management features rather than offering simple price exposure alone.

In December, Amplify ETFs launched two blockchain-focused ETFs on NYSE Arca. The Amplify Stablecoin Technology ETF (STBQ) and Amplify Tokenization Technology ETF (TKNQ) track diversified indexes of companies building infrastructure and generating revenue from stablecoins and tokenized assets.

Bitwise Asset Management also filed with the US Securities and Exchange Commission to launch 11 single-token “strategy” crypto ETFs, a move that would expand its product lineup by offering regulated exposure to major altcoins including Near (NEAR), Sui (SUI), Uniswap (UNI), Aave (AAVE), Bittensor (TAO) and Zcash (ZEC).

Asset manager 21Shares recently launched its Bitcoin Gold ETP, BOLD, on the London Stock Exchange, offering a single exchange-traded product that combines exposure to Bitcoin and gold, with roughly two-thirds allocated to gold and one-third to Bitcoin and trading in both pounds sterling and US dollars.

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The market for tokenized gold is expanding in step with rising demand for physical bullion, highlighting a broader shift toward traditional safe-haven assets as geopolitical tensions and trade uncertainty push investors away from the US dollar.

On Monday, Tether said its Tether Gold (XAUt) now represents more than half of the entire gold-backed stablecoin market, with a total value exceeding $2.2 billion.

Tether disclosed that 520,089 XAUt tokens were in circulation at the end of the fourth quarter, with each token backed one-for-one by physical gold held in reserve.

Tether Gold (XAUt) market capitalization. Source: CoinMarketCap

CEO Paolo Ardoino said the company’s Tether Gold investment vehicle, which holds the bullion backing XAUt, has grown large enough to sit alongside some sovereign gold holders in terms of scale.

The announcement came as Comex gold eclipsed $5,000 a troy ounce for the first time, following a year-to-date gain of about 17%.

The US dollar slips as official gold buying accelerates

Gold’s rally has been years in the making, driven in large part by central banks steadily reducing their reliance on the US dollar and rebuilding bullion reserves as a hedge against currency risk, rising geopolitical tension and, to a lesser degree, sanctions exposure.

Central banks accelerated their buying in the second half of 2025, buying a net 220 tonnes of gold in the third quarter, according to data from the World Gold Council. The renewed accumulation reflects a broader effort by reserve managers to diversify away from dollar-denominated assets and toward stores of value that sit outside the global financial system.

Those flows have coincided with a sustained slide in the dollar since US President Donald Trump took office in early 2025. The US Dollar Index (DXY) fell 9.4% last year, its worst annual performance since 2017, and has extended its decline this month, dropping to its lowest level since September.

Since Jan. 19, the index has dropped another 2.4%, according to Bloomberg data.

The US Dollar Index falls below 97.00. Source: Bloomberg

Some analysts warn that the move may not be over. Otavio Costa of Azuria Capital said the dollar has broken below a long-term support trend line for the first time in more than a decade, with confirmation likely on a monthly basis.

“The debasement trade is now well understood,” Costa wrote, “but the next phase is a broad weakening of the US dollar relative to other fiat currencies.”

Source: Otavio Costa

Bitcoin (BTC) has yet to meaningfully replace gold in that role. While often pitched as a hedge against currency debasement, Bitcoin has failed to attract the same steady, long-term flows, particularly from older and more conservative investors.

An analysis by investment strategist Karel Mercx of Dutch financial advisory brand and investment magazine Beleggers Belangen found that Bitcoin has so far fallen short of its promise as a debasement trade, leaving gold as the preferred hedge.

Related: Crypto’s 2026 investment playbook: Bitcoin, stablecoin infrastructure, tokenized assets

Key points:

Bitcoin is attempting a recovery, but higher levels are likely to attract solid selling by the bears.

Several major altcoins are at risk of breaking below their support levels.

Bitcoin (BTC) bounced off the $86,000 level, but the bulls are struggling to sustain the higher levels. That shows selling on rallies.

Although analysts are divided about the near-term prospects of BTC, Binance co-founder Changpeng Zhao said in an interview with CNBC that BTC could witness a super cycle in the next 12 months.

In contrast, Bloomberg Intelligence strategist Mike McGlone said in an interview with Cointelegraph that BTC has put in a long-term top. He added that he doesn't know where the bottom is but said “it is going to be like a low-price cure.”

Crypto market data daily view. Source: TradingView

However, several institutional investors have a different opinion as they believe that BTC is undervalued between $85,000 and $95,000. Coinbase said in its Charting Crypto Q1 2026 report that 80% of the surveyed institutional investors plan to either hold or add to their crypto positions on another 10% fall.

Could BTC and the major altcoins hold on to their support levels? Let’s analyze the charts of the top 10 cryptocurrencies to find out. 

S&P 500 Index price prediction

The S&P 500 Index (SPX) rebounded sharply off the 50-day simple moving average (6,840) on Tuesday, indicating buying on dips.

SPX daily chart. Source: Cointelegraph/TradingView

The 20-day exponential moving average (6,904) is flattening out, and the relative strength index (RSI) is just above the midpoint, indicating that the bullish momentum is weakening. Buyers will have to push the price above the 7,000 level to start the next leg of the uptrend toward 7,290.

Sellers are likely to have other plans. They will attempt to pull the price below the 50-day SMA, starting a deeper correction toward 6,720.

US Dollar Index price prediction

The US Dollar Index (DXY) slipped below the moving averages on Tuesday and the 97.74 support on Friday.

DXY daily chart. Source: Cointelegraph/TradingView

Sellers will attempt to yank the price to the solid support at 96.21, which is a critical level to watch out for. If the support gives way, the index may resume the downtrend toward the 94.62 level.

Buyers have an uphill task ahead of them. They will have to thrust the price above the moving averages to keep the index range-bound between 96.21 and 100.54 for a while longer.

Bitcoin price prediction

BTC turned down from the 20-day EMA ($90,521) on Friday and plunged below the uptrend line on Sunday.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA has started to turn down, and the RSI is in the negative zone, signaling advantage to bears. Any recovery attempt is expected to face selling at the moving averages. If the price turns down from the moving averages, the BTC/USDT pair may plunge to $84,000 and then to $80,600.

This negative view will be invalidated in the near term if the Bitcoin price turns up and breaks above the moving averages. The pair may surge to the $97,924 overhead resistance.

Ether price prediction

Ether’s (ETH) symmetrical triangle pattern resolved to the downside with a break below the support line on Sunday.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

Buyers will attempt to push the Ether price back into the triangle, but are expected to face significant resistance from the bears. If the price turns down sharply from the moving averages, the likelihood of a drop to $2,623 increases.

The bulls will have to quickly push the price back above the moving averages to suggest that the break below the triangle may have been a bear trap. The ETH/USDT pair may surge to the resistance line of the triangle.

XRP price prediction

XRP (XRP) has been gradually falling inside the descending channel pattern, signaling that the bears remain in control.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

There is support at $1.81, but the relief rally is likely to face selling at the 20-day EMA ($1.97). If the price turns down sharply from the 20-day EMA, the XRP/USDT pair may tumble to the solid support at $1.61.

On the contrary, if the XRP price breaks above the moving averages, the recovery may reach the downtrend line. A close above the downtrend line suggests a potential trend change in the near term.

BNB price prediction

BNB (BNB) closed below the 50-day SMA ($883) on Sunday, indicating that the bulls are losing their grip.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

The rebound off the uptrend line is expected to face selling at the 20-day EMA ($896). If the BNB price turns down from the 20-day EMA, it increases the possibility of a drop to the $790 support. Buyers will have to defend the $790 level with all their might, as a close below it could resume the downtrend.

The first sign of strength will be a close above the moving averages. The BNB/USDT pair may then ascend to the $959 overhead resistance.

Solana price prediction

Solana (SOL) bounced off the $117 support on Monday, indicating that the bulls are defending the level.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

The relief rally is expected to face selling at the 20-day EMA ($131). If the price turns down sharply from the 20-day EMA, the risk of a break below the $117 level increases. The SOL/USDT pair may then plunge toward the solid support at $95.

Contrary to this assumption, if the Solana price turns up and breaks above the moving averages, it signals that the pair may continue to oscillate inside the $117 to $147 range for some more time.

Dogecoin price prediction

Buyers are attempting to maintain Dogecoin (DOGE) above the $0.12 level, but the bears continue to exert pressure.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

If the $0.12 support gives way, the DOGE/USDT pair may start the next leg of the downward move to the Oct. 10, 2025, low of $0.10.

If the price rebounds off the current level, the bears will attempt to halt the recovery at the moving averages. If that happens, the possibility of a break below the $0.12 level increases. Buyers will have to drive the Dogecoin price above the moving averages to retain the pair inside the $0.12 to $0.16 range.

Cardano price prediction

Cardano (ADA) has turned up from the $0.33 support, which is a critical near-term level to watch out for.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

Buyers will have to swiftly propel the Cardano price above the downtrend line to signal strength. The ADA/USDT pair may then climb to the breakdown level of $0.50, which is expected to pose a strong challenge to the bulls.

Sellers will strive to halt the recovery at the downtrend line. If the price turns down from the overhead resistance, the bears will again attempt to tug the pair below $0.33. If they succeed, the next stop is likely to be the support line of the descending channel pattern, which is close to the Oct. 10, 2025, low of $0.27.

Bitcoin Cash price prediction

Bitcoin Cash (BCH) turned down sharply from the 20-day EMA ($596) on Sunday, but a minor positive is that the bulls held the $563 level.

BCH/USDT daily chart. Source: Cointelegraph/TradingView

The downsloping 20-day EMA and the RSI in the negative territory suggest that the bears will again attempt to sink the Bitcoin Cash price below the $563 support. If they manage to do that, the BCH/USDT pair will complete a bearish head-and-shoulders pattern. The pair may then plunge to $518.

Contrarily, if buyers drive the price above the moving averages, the pair could rally to $631. Sellers are expected to fiercely defend the zone between $631 and $670.

XRP (XRP) may see another sharp rise to a double-digit price, but similar market setups in 2022 and 2017 pointed to an extended consolidation period before this happens.

Key takeaways:

XRP macro setup targets $10, but an extended consolidation is required before any sharp liftoff.

XRP holds strong $1.80–$2 support since Dec 2024, which has historically produced 35%-90% price rebounds.

Onchain data suggest XRP is at levels that have previously preceded sideways price action. 

XRP’s needs “longer accumulation” before rebound

XRP defended the $1.78–$2 support band that it has held since December 2024, as shown in the chart below.

XRP/USD weekly chart. Source: Cointelegraph/TradingView

The XRP/USD pair has bounced 35%-90% each time it has retested this support base. 

It can gain as much as another 57% by year’s end if the setup plays out in the same way.

Related: XRP metric echoes setup that preceded 68% price fall

Analyst Mikybull Crypto said XRP is “preparing for liftoff” citing formidable support near the 2021 high at $1.96.

Source: Mikybull Crypto

“The price pattern is copying the previous bull run,” analyst CryptoBull said, referring to XRP’s consolidation around its previous all-time highs as seen in past cycles.

The “only difference is time, which makes sense, as we need longer accumulation for higher prices,” CryptoBull added.

XRP/USD weekly chart. Source: CryptoBull

Note that after dropping below its previous highs in 2022, the XRP/USD pair oscillated between $0.30 and $0.70 for more than three years before breaking out with a 390% run in December 2024.

If a similar scenario plays out, XRP price could consolidate around $2 (2021 highs) for an extended period before a massive upward breakout.

“The next impulse will take XRP to $11 and the last wave to $70,” CryptoBull added.

XRP is ‘undervalued’ at $1.90, but for how long?

Onchain data also highlights similarities between the current XRP market setup and previous bull cycles.

XRP’s net unrealized profit/loss (NUPL) indicator has entered the “capitulation zone (red),” a position that is typically associated with cycle bottoms. 

The NUPL measures the difference between the relative unrealized profits and losses of XRP holders.

In previous market cycles, the transition to capitulation has coincided with extended price consolidation periods, as shown in the chart below.

XRP: Net Unrealized Profit/Loss. Source: Glassnode

The market value to realized value (MVRV) ratio also supports this consolidation thesis. With a current daily reading of 1.23, significantly lower than a peak of 14.73 in 2017 and 2021’s 3.9, the metric suggests XRP is relatively undervalued. 

This lower MVRV ratio indicates reduced profit-taking pressure and increased potential for sustained price appreciation.

Before this happens, XRP price could consolidate for some time before embarking on a sustained recovery.

XRP: MRVR extreme variation pricing bands. Source: Glassnode

As Cointelegraph reported, holding $1.80–$2.00 and reclaiming $2.22 would keep XRP’s bullish case intact, fueled by latent buying pressure, which is slowly building up in the futures market.

Ripple has partnered with the innovation arm of Riyad Bank, a major Saudi financial institution, to explore the use of blockchain technology within the country’s financial system, signaling growing interest in blockchain-based infrastructure at the institutional level.

The partnership was announced Monday by Reece Merrick, Ripple’s senior executive officer and managing director for the Middle East and Africa. Merrick said Ripple is working with Jeel, Riyad Bank’s innovation unit, as part of an agreement to study potential applications of blockchain technology.

Source: Reece Merrick

The arrangement will take the form of a memorandum of understanding that focuses on cross-border payments, digital asset custody and asset tokenization. These efforts are intended to support Vision 2030, Saudi Arabia’s long-term strategy to modernize its economy and financial infrastructure while minimizing dependence on oil exports. 

The deal is notable given Riyad Bank’s scale and role in the domestic financial system. The bank is among Saudi Arabia’s largest lenders, with more than $130 billion in assets as of mid-2025, positioning it as a key participant in any broader shift toward blockchain-based financial services.

Related: Crypto takeaways from Davos: Politics and money collide

Middle East is emerging as a major market for digital asset innovation

While Saudi Arabia has historically taken a cautious approach to blockchain technology, the broader Middle East is moving more decisively in that direction, led in large part by the United Arab Emirates.

The UAE has positioned itself as a regional hub for digital assets by pairing clearer regulatory frameworks with active engagement from global companies. 

Regulators in Dubai and Abu Dhabi have introduced dedicated digital asset regimes covering exchanges, custody providers and stablecoin issuers, giving companies a clearer path to operate within traditional financial markets. This approach has attracted major players seeking regulated access to the Middle East and beyond.

Ripple has expanded its presence in the UAE as part of this trend. The company has secured regulatory approval for its Ripple USD (RLUSD) stablecoin, which is designed for institutional use cases such as payments and settlement.

The RLUSD stablecoin has eclipsed $1.3 billion in circulation. Source: CoinMarketCap

Beyond regional developments, tokenization activity on public blockchains is also increasing globally. The XRP Ledger recently surpassed $1 billion in onchain tokenized assets, reflecting growing institutional use of blockchain-based infrastructure.

The increase has been driven by a combination of tokenized US Treasury products and funds, as well as the growth of RLUSD, which has begun trading on major platforms, including Binance. 

Related: Four crypto comebacks from 2025 that could help shape year ahead

The US Senate Agriculture Committee and two federal financial agencies have delayed events related to digital asset regulation amid a winter storm that paralyzed many areas of the country over the weekend.

A spokesperson for the Senate Agriculture Committee Chair John Boozman told Cointelegraph on Monday that the body would push a scheduled markup for its version of a crypto market structure bill from Tuesday to Thursday. The bill, called the Digital Commodity Intermediaries Act, is the committee’s attempt to establish clear rules for the Commodity Futures Trading Commission (CFTC) over digital assets. 

In addition to the delay in Congress, the CFTC said on Monday that a joint event on crypto oversight harmonization with the US Securities and Exchange Commission (SEC) would also be delayed by two days, from Tuesday to Thursday. CFTC Chair Michael Selig and SEC Chair Paul Atkins are scheduled to discuss “harmonization between the two agencies” on digital assets.

Source: CFTC

Although neither notice explicitly mentioned the reason for the delays, they were likely due to a winter storm that hit many areas of the US over the weekend, causing power outages, icy conditions and cancelled flights. Reports from the ground in Washington, DC, described “treacherous road conditions” and a majority of schools closed.

The markup event in the Agriculture Committee will be the Senate’s second attempt to address crypto market structure after Republican leadership in the Senate Banking Committee cancelled its markup of a similar bill two weeks ago. Chair Tim Scott announced that the event would be cancelled indefinitely following a social media post from Coinbase CEO Brian Armstrong, saying that the exchange could not support the bill as written.

Senate Democrats seek ethics amendments in market structure

Among the 11 amendments lawmakers in the Agriculture Committee are expected to consider at markup include proposed amendments to address potential conflicts of interest with US officials profiting from the crypto industry and foreign interference.

Senator Michael Bennet introduced an amendment that would incorporate provisions from the Digital Asset Ethics Act into the market structure bill, specifically to bar individuals running for Congress or the White House from engaging with digital assets.

To pass through committee, the bill will likely need at least some Democratic support to head for a floor vote in the Senate. However, many crypto users are speculating that the US government could shut down at the end of January if lawmakers are unable to agree on a funding bill. A shutdown would also likely delay advancement of market structure in the Senate.

Magazine: A ‘tsunami’ of wealth is headed for crypto: Nansen’s Alex Svanevik

Key takeaways

The CLARITY Act aims to address years of regulatory uncertainty with a structured framework that clearly defines digital assets, intermediary roles and disclosure obligations.

It places most spot trading of qualifying tokens under CFTC oversight, while keeping the SEC responsible for primary offerings, disclosures and investor protections.

The bill focuses on regulating activities as much as assets, setting registration and conduct standards for exchanges, brokers and dealers to strengthen market integrity and transparency.

The GENIUS Act governs stablecoins, while the CLARITY Act applies only in complementary areas, such as disclosures and any reward-related features tied to stablecoin use.

The CLARITY Act (Digital Asset Market Clarity Act of 2025) aims to break the industry’s legislative logjam through a two-pronged approach that defines what digital assets are and delegates oversight based on how they function in the marketplace. The legislation moves beyond ad hoc enforcement and instead proposes a comprehensive framework for asset classification, intermediary roles and mandatory disclosures.

This article explains what the CLARITY Act is and why it matters, outlines its objectives and examines how it proposes to govern stablecoins. It also covers the concept of mature blockchains, key arguments against the CLARITY Act and its current legislative status.

Why the CLARITY Act matters

The CLARITY Act addresses a long-standing issue in the crypto space: regulatory uncertainty.

For several years, digital asset companies have faced a confusing overlap between the US Securities and Exchange Commission (SEC) and the US Commodity Futures Trading Commission (CFTC). The SEC often treats many tokens as securities, whereas the CFTC classifies them as commodities. This ambiguity has slowed innovation, complicated compliance, frustrated investors and created confusion for crypto businesses.

The CLARITY Act aims to resolve this logjam by establishing clear definitions for digital assets and assigning regulatory responsibilities based on the type of asset and activity involved. A predefined framework allows market participants to understand applicable rules upfront rather than facing uncertainty driven by enforcement actions.

Main objectives of the CLARITY Act

The bill uses three primary approaches to establish the related regulatory infrastructure:

Defining asset categories more precisely

The CLARITY Act introduces the term “digital commodity,” which refers to a digital asset whose value derives primarily from the use of its associated blockchain system. This definition excludes traditional securities and stablecoins. As a result, spot trading of many qualifying tokens would fall under the purview of the CFTC. Recognizing practical challenges faced by crypto networks, the definition emphasizes blockchain functionality and sufficient decentralization.

Clarifying regulatory jurisdiction

The act divides oversight by function:

The CFTC gains primary authority over digital commodity transactions, particularly in secondary and spot markets and on trading platforms.

The SEC retains authority over primary offerings, investor protections, required disclosures and initial sales.

The bill also encourages joint rulemaking in overlapping areas such as disclosures.

Establishing consistent disclosures and conduct rules

To safeguard investors and support fair markets, the legislation mandates standardized disclosures from developers and issuers. These would cover blockchain technical details, token economics and key risks, giving market participants comparable information to evaluate projects. Intermediaries such as digital commodity exchanges, brokers and dealers would be subject to registration, reporting and oversight requirements, largely supervised by the CFTC for trading-related activities.

Overall, the CLARITY Act seeks to replace regulatory gray areas with clear guidelines, supporting innovation while maintaining investor protections and market integrity.

Did you know? Crypto market structure debates are influencing how policymakers approach the regulation of AI models, as both involve unclear accountability and fast-moving innovation cycles.

How the CLARITY Act deals with stablecoins

The GENIUS Act, enacted in 2025, established a federal framework specifically for payment stablecoins. It excludes qualifying stablecoins from classification as securities or commodities, provided they meet strict reserve, redemption and oversight requirements.

The CLARITY Act does not override or duplicate this stablecoin regime. Instead, its provisions apply in complementary ways, particularly with respect to rewards tied to stablecoins, related disclosures and their interaction with broader digital asset markets.

The concept of “mature” blockchains

With a mechanism for assets to evolve, the CLARITY Act defines a pathway through which a blockchain can achieve “mature” status by meeting decentralization and other functional criteria.

Once these criteria are met, the associated token shifts toward treatment as a digital commodity under CFTC oversight. This can significantly reduce regulatory requirements, such as registration, provided the project satisfies other applicable conditions.

The concept of mature blockchains reflects the view that regulatory treatment should adapt as networks become more decentralized and widely distributed. It offers projects a clearer progression toward lighter compliance requirements.

Did you know? In past regulatory disputes, courts have sometimes relied on decades-old investment cases to assess crypto tokens, highlighting how existing legal frameworks are being stretched to fit entirely new digital markets.

Ongoing criticisms of the CLARITY Act

While the bill promises clarity, skepticism remains. Critics argue that its definitions may leave gaps, particularly in decentralized finance (DeFi), where projects often do not fit neatly into traditional regulatory models.

Others contend that the investor protections fall short of established securities standards. Additional concerns focus on potential overlaps, such as how the SEC’s anti-fraud authority would apply in areas where the CFTC holds primary jurisdiction, especially for tokens with hybrid characteristics.

Legislative status of the CLARITY Act

The US House of Representatives passed the CLARITY Act (H.R. 3633) in July 2025 with bipartisan support. As of January 2026, the bill awaits action in the US Senate, where it has been referred to the Senate Committee on Banking, Housing, and Urban Affairs. The legislative process also involves input from the Senate Committee on Agriculture, Nutrition, and Forestry on matters related to CFTC oversight.

As of January 2026, Senate committees have held hearings, released discussion drafts, proposed amendments and advanced versions of broader market structure legislation. However, markups have faced delays and revisions amid debate over issues such as stablecoin yields and investor safeguards. Reconciliation between Senate drafts and the House-passed bill remains ongoing, with no final Senate vote yet.

If enacted in a compatible form, the CLARITY Act would represent the first comprehensive US federal framework for digital asset market structure.

Did you know? Some blockchain networks now publish real-time transparency dashboards that show validator concentration, token velocity and governance participation. Regulators sometimes reference these metrics when debating whether a network is “sufficiently decentralized.”

Assessing the CLARITY Act’s blueprint

At its core, the CLARITY Act addresses a persistent challenge in crypto: unclear regulatory boundaries that deter innovation and encourage reactive enforcement rather than proactive compliance.

The act establishes defined asset categories, mandates consistent disclosures and assigns distinct roles to the SEC and CFTC. Its goal is to create a more predictable environment in which market participants understand the applicable rules from the outset.

Legislation, however, is only the starting point. Implementation, rulemaking and potential adjustments will determine the CLARITY Act’s real-world impact. Whether it ultimately delivers the promised clarity will shape US crypto policy and competitiveness for years to come.

Bitcoin (BTC) recovered through $88,000 after Monday’s Wall Street open as analysis called core demand “intact.”

Key points:

Bitcoin attempts to maintain a bounce after hitting new 2026 lows of $86,000.

Traders see downside resuming as markets grapple with uncertainty across the board.

Research still says that Bitcoin has a solid demand base.

BTC price seen following dollar downhill

Data from TradingView showed BTC price action continuing to bounce from new 2026 lows seen at the weekly close.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

After a disappointing weekly candle sparked warnings of further downside in crypto analytics circles, traders had little faith in Monday’s rebound lasting.

“I believe the maximum extension is likely around 89–91K before further downside,” trader Killa wrote in his latest post on X.

BTC/USD chart. Source: Killa/X

Fellow trader BitBull eyed declining US dollar strength as a cue for BTC/USD to put in a characteristic long-term low.

“This is a very crucial chart for $BTC holders,” he told X followers alongside a chart of the US dollar index (DXY). 

“Whenever DXY has dropped below 96 in the past, Bitcoin has bottomed. Even the 2 biggest rallies in BTC happened when DXY went below 96. And now, the DXY crash seems imminent. We all know what that means.”

US dollar index (DXY) vs. BTC/USD 10-day chart. Source: BitBull/X

Dollar weakness formed just one of many macroeconomic hurdles for risk-asset traders on the day, with Japan, US trade tariffs and the Federal Reserve interest-rate meeting all on the radar.

A further problem came in the form of a potential US government shutdown taking effect from Jan. 30.

“The situation bears resemblance to last autumn’s protracted fiscal standoff, which coincided with a sharp drawdown in crypto markets,” trading outfit QCP Capital wrote in its latest “Asia Color” market update.

QCP forecast that crypto markets were “likely to chop around in the near term, pending greater clarity, particularly around the risk of a U.S. government shutdown.”

IG: Bitcoin avoiding structural “breakdown”

On a more optimistic note, however, new research released by CFD and forex provider IG on the day retained belief in Bitcoin’s underlying strength.

Notwithstanding the various macro risks and poor performance versus stocks and other assets, BTC still enjoyed a demand base, IG argued.

“Despite the sharp decline, the Monday's recovery suggests that underlying demand remains intact,” the research stated. 

“Longer-term investors appear more willing to absorb supply at lower levels, viewing the move as a correction driven by positioning and macro shocks rather than a breakdown in Bitcoin’s structural outlook. This helped prices stabilise and rebound, even if the recovery has so far been measured rather than decisive.”

BTC/USD one-day chart. Source: IG/X

IG gave resistance areas around $94,000 and $100,000 as longer-term targets, with $86,000 still important to avoid in the event of a fresh dip.

“​Looking ahead, Bitcoin’s near-term trajectory will likely depend on whether broader market conditions stabilise and whether buyers can build on the recovery without renewed selling pressure,” it added.

“​For now, the sharp sell-off and subsequent minor rebound serve as a reminder that even in a more mature phase of the cycle, Bitcoin remains highly responsive to shifts in sentiment, liquidity and risk appetite.”

Key takeaways

Europe has moved from drafting to enforcing crypto rules under MiCA, giving companies clear timelines, licensing paths and compliance milestones across all EU member states.

The US still relies on a multi-agency, enforcement-led framework, with major questions about token classification and market structure waiting on new federal legislation.

MiCA’s single-license model allows crypto firms to operate across the EU after approval in one country, encouraging companies to base early expansion strategies in Europe.

Unclear asset classification in the US makes exchanges more cautious about listings and staking, while MiCA’s categories reduce legal uncertainty despite higher compliance costs.

At the global level, two major economic blocs, the US and Europe, are taking very different approaches to crypto regulation.

On one side, the European Union has moved from drafting rules to active enforcement. The Markets in Crypto-Assets Regulation (MiCA) has entered into force in phases. It already covers crypto asset service providers and market abuse, while the European Securities and Markets Authority (ESMA) aims to integrate its interim MiCA register into formal regulatory systems.

On the other side, the regulatory framework in the US shows some progress but still lacks a single, full-fledged framework. The regulatory environment remains unclear and has been shaped largely by enforcement actions from multiple agencies.

The Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), the Financial Crimes Enforcement Network (FinCEN) and the Internal Revenue Service (IRS) oversee securities, commodities, Anti-Money Laundering (AML) and tax matters, respectively. States also license money transmitters, creating a complex, multi-agency structure.

This article explores how crypto rules have progressed in Europe and the US, how companies build, list and scale across both economic blocs, and the secondary effects of evolving crypto regulation in these regions.

What “Europe moves ahead” means: The MiCA framework

MiCA aims to establish uniform market rules across the EU for crypto assets not already covered by existing financial services law. The framework sets requirements for issuers and for crypto asset service providers such as exchanges, brokers, custodians and other intermediaries. It also includes provisions to address market abuse.

MiCA came into force in stages:

June 29, 2023: MiCA enters into force following publication in the EU Official Journal.

June 30, 2024: MiCA’s framework for asset-referenced tokens and e-money tokens becomes applicable.

Dec. 30, 2024: MiCA’s regime for crypto asset service providers becomes applicable.

Transition window up to July 1, 2026: Providers operating under national regimes before Dec. 30, 2024, may continue operating for a limited period, depending on member-state choices and whether authorization is granted or refused earlier.

This regulatory clarity has allowed firms in Europe to plan timelines, budgets and product roadmaps around defined regulatory milestones.

One of MiCA’s biggest structural effects is the introduction of an EU-wide authorization model for crypto asset service providers (CASPs). Firms can obtain a license in one EU country through its competent authority and then offer services across the EU without needing to relicense in each market.

MiCA covers several functions, including issuance, conduct, authorization, disclosures and service-provider obligations. Europe is also strengthening AML and counter-terrorist financing rules in the context of crypto. The EU’s AML package includes the establishment of the Anti-Money Laundering Authority (AMLA).

Did you know? MiCA is among the first comprehensive frameworks to regulate crypto uniformly across all 27 EU member states, meaning a license obtained in one country allows firms to serve customers across the entire EU without reapplying in each market.

What “the US pauses” means: A work in progress

A pause in the US approach reflects ongoing deliberation over how to define the regulatory perimeter. Regulators are still weighing key questions, including when a token qualifies as a security, when it is treated as a commodity and which agency has primary authority over crypto asset activities.

Market-structure legislation is still in motion

The Digital Asset Market Clarity Act of 2025 aims to establish a federal regulatory structure for digital assets. It categorizes them as either digital commodities or investment contracts. Transactions involving digital commodities would fall under the authority of the CFTC, while those deemed investment contracts would come under the SEC.

If the Clarity Act becomes law, it would introduce requirements for certain digital asset brokers and exchanges to register with the CFTC. It would also establish standards for the custody of client assets, improving transparency and promoting investor protection.

Token classification remains the pressure point

In late 2025, Paul Atkins, chair of the SEC, said the commission was evaluating a “token taxonomy” based on the Howey investment-contract test. The regulator is exploring a classification model for crypto assets and potential exemptions as part of broader market-structure discussions.

This process matters because token classification is not just an academic exercise; it determines whether platforms must register with the SEC, which disclosures apply and whether certain products become too risky to offer in the US market.

The regulatory approach regarding stablecoins becomes clear

The GENIUS Act in the US establishes a federal framework for payment stablecoins, focusing on issuer oversight, reserve backing and consumer protections. It sets standards for who can issue stablecoins, how reserves must be held and disclosed, and how redemption rights should operate.

The law also limits misleading claims about government backing and clarifies supervisory roles for bank and non-bank issuers. It aims to make stablecoins safer for everyday payments while supporting regulated innovation.

Did you know? Paul Atkins has been closely involved in crypto policy debates through roles such as co-chair of the Token Alliance. He has advocated clearer token classifications and regulatory exemptions to support blockchain startups.

How companies build, list and scale in the US and Europe

Europe has established clear regulatory guidelines, while the US is still debating the perimeter of its crypto regulation. Crypto firms are responding in predictable ways.

Licensing strategies diverge: MiCA’s authorization structure encourages firms to choose an EU regulatory “home base” and scale outward. Companies often secure EU licenses first for regulatory certainty and consider US expansion later.

Listing policies grow more conservative in the US: Uncertainty around crypto asset classification makes exchanges and brokers more cautious. When it is unclear whether an asset will be treated as a security or a commodity, firms may limit listings or restrict features such as staking. On the contrary, MiCA lays out clearer categories and disclosure requirements. While this increases compliance costs, it reduces asset classification risk.

Stablecoin availability may not converge as users expect: While both Europe and the US regulate stablecoins, their compliance frameworks differ. Firms’ decisions on building, listing and scaling influence which stablecoins are prioritized, how reserves are structured and how distribution partnerships with banks, fintechs and exchanges are negotiated.

Companies want a single rulebook: Large institutions such as banks, asset managers and public companies prefer environments with stable and predictable rules. Europe’s single rulebook can be attractive for crypto firms. While the US offers deep capital markets, companies still need clarity around asset classification and registration pathways.

Did you know? Crypto licensing often covers not just exchanges, but also custody, brokerage, staking facilitation and token issuance. This means companies must design products around what their specific authorization legally permits them to offer.

Secondary effects of crypto regulations in Europe and the US

As Europe has put stable crypto regulation in place under MiCA and the US continues working on its regulatory perimeter, the impact goes beyond compliance checklists:

Liquidity pools can fragment: EU-regulated venues may attract flows from firms seeking clearer authorization frameworks. US venues, meanwhile, may remain deep but more selective in what they can list and how products are structured.

Compliance costs reshape competition: Large firms can spread the cost of meeting MiCA and AML requirements across their businesses. Smaller companies may need to merge, find partners or exit certain markets due to higher compliance costs.

More regulated on-ramps: The Commodity Futures Trading Commission has outlined steps related to listed spot crypto products potentially trading on federally regulated markets.

While these outcomes are not guaranteed, they illustrate how crypto enterprises may operate differently across Europe and the US as regulatory frameworks evolve.

A new survey by the UK Cryptoasset Business Council (UKCBC) found that transfers between United Kingdom bank accounts and crypto exchanges are frequently blocked, delayed or refused, even when customers are trying to use regulated platforms.

​The survey, titled “Locked Out: Debanking the UK’s Digital Asset Economy,” draws on responses from 10 of the UK’s largest centralized exchanges, which collectively serve millions of UK consumers and have processed hundreds of billions of pounds in transactions. 

It aims to replace anecdotes with hard numbers on how current banking practices affect the sector. The UKCBC argues that widespread restrictions are a major obstacle to growth and are already undermining the UK’s ambitions to be a leading hub for digital assets.

Eight in 10 exchanges reported a noticeable increase over the past 12 months in customers experiencing blocked or limited transfers, with none seeing a decrease, the survey found. 

​How hard is it to move money?

Based on the exchanges’ data, UKCBC estimates that 40% of transactions to crypto exchanges are either blocked or delayed by the banks in question. 

Cryptoasset Business Council (UKCBC) report. Source: UKCBC

Simon Jennings, executive director of the UKCBC, told Cointelegraph, “We acknowledge that fraud is a legitimate concern and we actively want to work towards a solution.” “However, there is a widespread concern within the industry that banks are using compliance posture as a proxy to the hinder growth of the sector.”

One leading UK‑founded exchange observed close to 1 billion pounds (about $1.4 billion) in declined UK transactions over the past year, attributable to bank‑side rejections of card payments and open‑banking transfers.

The pattern spans a wide range of providers, with most major high‑street banks now imposing strict limits or blocks on both bank transfers and card payments to exchanges, while several challengers allow payments but with tight caps or 30‑day limits. 

​Blanket policies and lack of transparency

The UKCBC stresses that almost all major UK banks and payment firms currently impose blanket transaction limits or complete blocks on cryptoasset exchanges, often without differentiating between Financial Conduct Authority‑registered UK businesses and higher‑risk platforms. 

Qualitative feedback from exchanges highlighted inconsistent restrictions “even against FCA‑registered firms,” driven by blanket policies rather than evidence‑based risk assessment.

Jennings said that their engagement with UK exchanges showed that “payment blocks or limits are applied universally,” and that FCA registration “does not currently prevent these restrictions.”

​The report also flags a near‑total lack of transparency around these decisions, with 100% of surveyed exchanges saying banks provide no clear explanations for payment blocks or account restrictions, leaving firms and their customers “in the dark.” 

One exchange quoted in the report said that 60% of its customers expressed anger at the resulting friction, while another described bank‑imposed limits and bans as “the single biggest problem” with growing or launching new crypto products in the UK.

UKCBC recommendations

​For UKCBC, the concern goes beyond consumer inconvenience. The report concludes that anti‑competitive debanking practices are “undermining domestic innovation and driving competition overseas.”

It recommends that the government and FCA make clear that blanket bans are unacceptable, require banks to adopt more granular, risk‑based frameworks that distinguish between different exchanges, and remove unnecessary frictions for FCA‑registered firms.

Jennings said that “constructive dialogue” was the vital first step, however, so far, “banks have not meaningfully engaged and have been unwilling to share data on fraud levels.” He added, “If the UK is going to lead the global race, this cannot continue.”

Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026

​

A cybersecurity researcher has uncovered a massive, publicly accessible database containing millions of stolen login credentials harvested from malware-infected personal devices, including accounts linked to major social media platforms and the crypto exchange Binance.

The dataset, uncovered by cybersecurity researcher Jeremiah Fowler, contained around 149 million usernames and passwords from personal phones and computers, according to a Friday blog post published on ExpressVPN. The records were tied to services including Facebook, Instagram, Netflix and Binance, with at least 420,000 credentials associated with Binance users.

The leak contained 48 million Gmail accounts, four million Yahoo accounts, 17 million Facebook accounts, 6.5 million Instagram accounts, 3.4 million Netflix accounts and 780,000 TikTok accounts, among others.

“This is not the first dataset of this kind I have discovered and it only highlights the global threat posed by credential-stealing malware,” said Fowler in the blog post. “Financial services accounts, crypto wallets or trading accounts, banking and credit card logins also appeared in the limited sample of records I reviewed,” he added.

94-gigabyte infostealer data set uncovered by researcher Jeremiah Fowler. Source: Expressvpn

The researcher also noted a concerning number of credentials associated with government-linked accounts and .gov domains, which open the door to phishing attacks, potentially allowing attackers to impersonate government agencies.

Credential theft, not a Binance-specific system breach

Security experts stressed the exposure does not indicate a breach of Binance’s internal systems. Instead, the credentials were collected through so-called “infostealer” malware that silently extracts saved logins from compromised devices.

“Infostealer is a known malware variant that steals user credentials when the users’ devices are compromised. Those are not leaks from Binance,” a spokesperson for Binance told Cointelegraph.

The incident signals a data leak on the end-user devices, not a breach to the exchange’s core systems, Deddy Lavid, the CEO of blockchain cybersecurity company Cyvers, told Cointelegraph.

“This highlights why the industry is shifting toward prevention-first security models that can detect and stop suspicious activity before funds are moved, alongside strong user hygiene such as hardware-based MFA and secure password practices.”

To protect its users, Binance monitors dark web marketplaces, alerts affected users, initiates password resets and revokes compromised sessions, the exchange wrote in a blog post published in March, 2025.

Binance recommends that users employ antivirus and anti-malware tools along with regular security scans to protect against external threats like this.

Related: Bitcoin investor loses retirement fund in AI-fueled romance scam

Infostealer malware: a new threat for crypto investors’ wallets

Cybersecurity firm Kaspersky first reported on the threat of the new infostealer malware in December 2025, which disguises itself as a game cheat or mod, targeting cryptocurrency wallets and browser extensions. 

Discovered in November, attackers use this malware to hijack accounts, steal cryptocurrency and install crypto miners on the victims’ computers, which are masked as video game cracks or mods, particularly for Roblox.

A fake website pretending to offer Roblox scripts, Source: Kaspersky

Built on the Chromium and Gecko engines, the malware’s dangers extend to over 100 browsers, including the most popular ones such as Chrome, Firefox, Opera, Yandex, Edge and Brave.

The malware also targeted the users of at least 80 cryptocurrency exchanges, including Binance, Coinbase, Crypto.com, SafePal, Trust Wallet, MetaMask, Ton, Phantom, Nexus and Exodus. 

To avoid falling victim to infostealers, users should run a reliable antivirus on their computers and keep an updated security and operating system on their mobile devices, Fowler said.

Magazine: Meet the onchain crypto detectives fighting crime better than the cops

Michael Saylor’s Strategy, the world’s largest public Bitcoin holder, disclosed fresh BTC purchases as prices slid during a broader market sell-off.

Strategy acquired 2,932 Bitcoin (BTC) for $264.1 million last week, according to a US Securities and Exchange Commission filing on Monday.

The acquisitions were made at an average price of $90,061 per BTC, with Bitcoin starting the week above $93,000 and briefly tumbling below $87,000, according to CoinGecko.

The purchase brought Strategy’s total Bitcoin holdings to 712,647 BTC, purchased for about $54.19 billion at an average price of $76,037 per coin.

Strategy’s January purchases exceed the last five months combined

Strategy’s latest Bitcoin purchase is notably smaller than its two earlier January buys, including the 22,305 BTC acquisition announced last week and a 13,627 BTC purchase the week before, which together account for the bulk of its recent accumulation.

So far this month, Strategy has acquired about 40,100 BTC, exceeding its combined purchases over the previous five months from August to December 2025, highlighting a sharp acceleration in buying activity since the start of the year.

Details from Strategy’s latest Bitcoin acquisition. Source: SEC

The buy comes as Bitcoin has fallen more than 6% from recent highs, highlighting Strategy’s preference to purchase smaller amounts of BTC in periods of market weakness.

Strategy’s co-founder Saylor in 2024 pledged to keep buying Bitcoin at peak prices, while the company has since appeared more reluctant to make larger purchases during volatile market conditions.

At the time of writing, Strategy (MSTR) shares traded at around $163, down around 12% from a January high of $185, according to TradingView data.

Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026

Bitcoin (BTC) extended its weakness into the low-liquidity weekend trading session, with BTC slipping to a five-week low of $86,000 on Sunday. The cryptocurrency could potentially retest its macro low of $66,000 over the coming weeks, a key support level from November 2024.

Key takeaways:

Bitcoin dropped below $87,000 on Sunday as its momentum weakened.

The Coinbase Premium hit a 12-month low, reflecting strong US spot Bitcoin selling pressure.

Bitcoin’s bearish setup targets a $66,800 BTC price.

Bitcoin faces stronger selling pressure in the US

The Bitcoin Coinbase Premium Index, which tracks the price difference between BTC on Coinbase and Binance, flipped red in mid-December 2025, dropping as low as -0.17. The last time the index was this low was in December 2024.

Related: BTC price 'bottoming phase' ends: Five things to know in Bitcoin this week

Even during short-term rebounds, BTC trades at a steady discount on Coinbase versus other major exchanges. The index has stayed negative for more than five weeks now (see the chart below).

“The Coinbase Premium continues to drop sharply and widen, indicating significantly stronger BTC selling pressure on Coinbase compared to other exchanges,” derivatives data provider CoinGlass said in an X post on Monday. 

The Coinbase Premium Index is “firmly below zero, showing continued sell pressure from U.S. spot flows,” CryptoQuant analyst TeddyVision said in a recent QuickTake analysis. 

Historically, a prolonged negative Coinbase Premium has been associated with “capital moving away from US exchanges, and little evidence of aggressive dip-buying by long-term holders,” the analyst said, adding:

“Until the premium stabilizes and turns positive, the upside remains fragile.”

Bitcoin Coinbase Premium Index. Source: CryptoQuant

When the index stayed predominantly negative between Dec. 18, 2024 and Jan. 5, 2025, it was accompanied by an 18% price drop over the same period.

Similarly, the index stayed negative between February 2025 and April 2025, leading to a 32% BTC price drop to $74,500 on April 7, 2025, from its previous all-time high of $109,000.

If US spot demand continues to fade, market participants may see a similar drawdown in BTC price over the coming weeks or months.

Additionally, institutional demand has declined sharply, with US-based spot Bitcoin ETFs recording about $1.72 billion in outflows over the last five days. 

Spot Bitcoin ETFs flows table. Source: Farside Investors

Coupled with more than $1.7 billion in outflows from crypto investment products last week, this points to a persistent bearish sentiment across the market. 

How low can Bitcoin price go?

Veteran trader Peter Brandt flagged a "sell signal” after the BTC/USD pair confirmed a bearish technical pattern.

“Yet another sell signal in Bitcoin as a bear channel has been completed,” Brandt said in an X post on Monday.

Brandt’s chart points to more downside risk if the price does not reclaim $93,000 level as support.

“The price needs to reclaim $93K to negate.”

BTC/USD daily chart. Source: Peter Brandt

The measured target of the pattern, calculated by adding the height of the initial drop to the breakout point at $90,000, is $66,800, representing a 22% decline from the current price. This level also roughly aligns with previous BTC price highs from 2021 and 2024.

As Cointelegraph reported, the area between $80,000 and $84,000 remains a key support zone for Bitcoin, and holding it is crucial to avoiding further losses. 

Opinion by: Marcin Kaźmierczak, co-founder of RedStone

The fight for dominance in blockchain won’t be won by whoever has the lowest fees or the fastest consensus; it will be won by whoever can mobilize the largest base of users.

Circle, Stripe, Coinbase and others are soon to follow, rewriting their business models around proprietary chains. They already control the payment flows, merchant networks and trading activity that most blockchains spend years trying to attract.

By redirecting that existing volume into their own ecosystems, they don’t just launch chains; they throw them into orbit with gravity.

This shift is the axis around which the next wave of blockchain dominance will rotate. Transaction fees that once accrued to neutral networks now stay in-house. Compliance and settlement can be built into the DNA of the chain. Merchants, traders and institutions aren’t asked to join — they’re automatically upgraded into validators, liquidity providers and onchain participants.

For incumbents, the cold-start problem disappears. For everyone else, it defines the gap between success and irrelevance. The result is a new competitive landscape.

Distribution as infrastructure

Consider Coinbase’s launch of Base. It didn’t need to “bootstrap” the new chain. Instead, it routed tens of millions of existing users directly to it. Overnight, Base became one of the most active layer 2s in the ecosystem, not because it offered radically different technology but because Coinbase already owned the audience.

Circle has a similar advantage with USDC (USDC). By directing settlement flows toward its own chain, Arc, Circle secures the network effects of the most widely used dollar stablecoin. Likewise, Stripe, with its millions of merchants, can migrate payment rails onto Tempo, offering lower fees and faster payouts as incentives. Taken together, these moves show that the center of gravity in blockchain has already shifted upstream.

Startups need to design effective incentive programs, invest heavily in marketing and hope speculators stick around long enough to bootstrap real activity. Incumbents, by contrast, instantly convert existing customers into network participants. What would take a startup chain years of ecosystem building, these companies accomplish instantly with entrenched customer bases.

The new center of gravity

Some skeptics still argue that corporate chains will fragment liquidity, or isolate users from the open cryptocurrency ecosystem. They’re not entirely wrong. Liquidity could splinter, and not all flows will remain composable with Ethereum or other general-purpose networks, but the gravitational pull of distribution is impossible to ignore.

While the launch of PayPal USD (PYUSD) may not have disrupted the stablecoin market overnight, if even 5% of its 400 million users begin transacting on proprietary rails, the adoption shockwaves will dwarf most crypto-native launches. If JPMorgan directs institutional settlement onto Kinexys, the market effect will be immediate.

This is why the debate over “throughput wars” and marginal improvements in consensus efficiency is losing its relevance. Architecture bends to distribution, not the other way around. A chain with users will always outcompete a chain with features. The shift toward distribution-first chains has created a new set of winners and losers.

The architecture fork is just strategy

We’re already seeing how this battle has divided the landscape. Coinbase, Circle and Stripe can automatically turn their users into validators, liquidity providers and transactors. To make that stick, architecture is picked with precision. A sovereign layer 1 enables them to embed compliance and control economic flows for high-value institutional settlements, whereas a layer 2 facilitates faster launches, Ethereum security guarantees and the immediate onboarding of existing users.

From there, the playbook is straightforward: Launch with a captive audience, sweeten the deal with lower fees or faster payouts, ensure interoperability and expand outward from core flows. This model leapfrogs technical tinkering, converting existing customers into participants in a new value system, whether they realize it or not.

Neutral layer 1s and startups face a starkly different reality. They can’t outscale Stripe’s merchants or Circle’s stablecoin flows, and they can’t force users to show up. But “disadvantage” doesn’t mean doom. Their path forward is specialization. Ethereum can continue emphasizing neutrality and settlement finality, Solana can focus on high-frequency environments, and other layer 1s can develop niche, domain-specific ecosystems that corporate chains cannot easily replicate. In this environment, the chain that best converts its distribution into network effects will dominate, while technical elegance alone is insufficient.

Code matters, but customers decide

The multichain future is certain and will be defined by the gravitational force of companies that already control users at scale. Over the next five years, banks, fintechs, payment processors, social platforms and even gaming companies will all face the same choice: launch their own chain to capture the value of their user base or watch competitors do it first. Success will not go to the architect of the cleverest protocol, but to the one who mobilizes millions from the very beginning.

For traditional layer 1s, this is a crossroads. Competing on throughput or fees won’t be enough against companies that already own the audience. Their only durable path forward is to specialize and capitalize on the domain-specific ecosystems that corporate chains can’t replicate. The future will be multichain, but unevenly so. General-purpose layer 1s risk being sidelined, while platforms with distribution at scale define the next wave of adoption.

Technology creates possibilities. Distribution creates inevitability. In the coming era, the chains that control users will dictate the rules of the game.

​Opinion by: Marcin Kaźmierczak, co-founder of RedStone.

This opinion article presents the contributor’s expert view and it may not reflect the views of Cointelegraph.com. This content has undergone editorial review to ensure clarity and relevance, Cointelegraph remains committed to transparent reporting and upholding the highest standards of journalism. Readers are encouraged to conduct their own research before taking any actions related to the company.

Bitcoin (BTC) may face another sharp sell-off if growing talk of a Japanese yen (JPY) intervention turns into action, with past intervention episodes coinciding with 30% drawdowns in BTC price.

Key takeaways:

Past Japanese yen shocks saw BTC drop about 30%, and then recover by over 100%.

Onchain data says the Bitcoin bottom is not yet confirmed.

Bitcoin’s yen fractal shows 30% drawdowns before rebounds

A yen intervention is when Japan’s authorities step into the forex market to influence the currency, most commonly by selling dollars and buying yen to slow a rapid yen slide.

Over the weekend, markets were on alert after reports that the New York Fed conducted “rate checks” in USD/JPY, often treated by FX traders as a prelude to coordinated action.

That followed official comments emphasizing close US-Japan coordination on currencies.

In the two prior intervention windows, BTC sold off by about 30% from local highs before forming a base, due to the unwinding of the “yen carry trades.”

BTC/USD daily price chart. Source: TradingView

In both cases, the post-shakeout recovery eventually extended into a rally of 100% or more.

“The same scenario is about to occur now,” said analyst Mikybull Crypto, adding that the BTC price “will first dump and rally afterward.”

Bitcoin risks declining toward the $65,000–$70,000 range if the yen fractal plays out as intended.

Bitcoin onchain metrics reinforce bearish outlook

Bitcoin has not reached full capitulation and is yet to form a “true bottom,” according to data resource Alphractal.

One of the indicators behind that view is net unrealized profit/loss (NUPL), which tracks whether Bitcoin holders are sitting on paper gains or paper losses.

As of Monday, NUPL was falling but still above zero, meaning the market remains net “in profit,” even after the recent drawdown.

Bitcoin NUPL vs. price chart. Source: Alphractal

In past cycles, Bitcoin’s bottoms tended to form only after NUPL turned negative. The flip signaled that most holders were underwater, and selling pressure was largely washed out.

As Cointelegraph reported, the supply in profit is currently 62% — the lowest level since September 2024, when Bitcoin traded at around $30,000.

At the same time, Bitcoin’s delta growth rate turned negative.

Bitcoin’s delta growth rate vs. price chart. Source: Alphractal

The metric compares Bitcoin’s market value with its realized value.

A drop below zero suggests price is slipping toward (or below) the network’s aggregate cost basis, signaling a market that is cooling and moving away from speculation and into accumulation.

In simple terms, the data suggests the market is cooling and still vulnerable to another drawdown before a durable bottom is set.

Alphractal said the process can be painful but often sets up “generational buying opportunities,” a view that fits with the yen-intervention fractal.

Crypto investment products reversed course last week from solid inflows to one of the largest outflow weeks on record amid persistent bearish market sentiment.

Crypto exchange-traded products (ETPs) saw $1.73 billion of outflows during the week, the biggest since mid-November 2025, CoinShares reported on Monday.

“Dwindling expectations for interest rate cuts, negative price momentum and disappointment that digital assets have not participated in the debasement trade yet have likely fuelled these outflows,” CoinShares’ head of research, James Butterfill, said.

The latest outflows highlight the market’s sideways trading, following the prior week’s $2.2 billion of inflows.

Bitcoin and Ether lead outflows with $1.72 billion combined

Bitcoin (BTC) and Ether (ETH) led outflows from crypto funds last week, with withdrawals of $1.09 billion and $630 million, respectively.

While the outflows reflected broad negative sentiment across the market, some altcoins bucked the trend. XRP (XRP) and Sui (SUI) saw outflows of $18.2 million and $6 million, while Solana (SOL) recorded inflows of $17.1 million.

Weekly crypto ETP flows by asset as of Friday (in millions of US dollars). Source: CoinShares

Chainlink (LINK) funds also saw minor inflows at $3.8 million, according to CoinShares data.

Short-Bitcoin ETPs saw shy $500,000 inflows, contradicting the negative market sentiment. “Regardless, it indicates sentiment has still not improved since Oct. 10, 2025 price crash,” CoinShares’ Butterfill noted.

BlackRock’s iShares, Fidelity top the losses

Outflows were spread across several issuers last week, with BlackRock’s iShares exchange-traded funds (ETFs) leading the way at $951 million.

Fidelity Investments and Grayscale Investments followed with outflows of $469 million and $270 million, respectively. Some issuers, however, managed to post gains, with Volatility Shares and ProFunds Group recording inflows of $83 million and $37 million.

Weekly crypto ETP flows by issuer as of Friday (in millions of US dollars). Source: CoinShares

Regionally, outflows were concentrated in the United States, totaling $1.8 billion.

Total assets under management in crypto funds fell to $178 billion, down from $193 billion at the end of the previous week.

Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026

Bitcoin (BTC) heads into the January close in dangerous territory as macro volatility factors ramp up.

Bitcoin closes the week below key support in a move that opens the door to new lows.

FOMC week dawns, but markets are focused on Japan, tariffs and geopolitical instability.

Precious metals smash historic records while crypto fails to match them.

Bitcoin short-term holders show signs of record capitulation at current price levels.

“Tactical” Bitcoin selling pressure is ongoing, with liquidity able to absorb the distribution.

BTC price analysis sees new lows

Bitcoin dropped to $86,000 around Sunday’s weekly close — a target already on the radar for traders.

Data from TradingView shows buyers defending that level into the week’s first Asia trading session, with $90,000 still out of reach.

“There’s so much volatility ahead of us coming week. Not only on the Bitcoin & Crypto markets, but also in forex, commodities & bond markets,” crypto trader, analyst and entrepreneur Michaël van de Poppe summarized in a post on X. 

“Crypto is preparing for the worst, hence the deep selloff and that’s why I think coming week brings a generational opportunity across the board.”

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

After closing the week below $86,500, BTC/USD is in a thoroughly bearish position, per Material Indicators cofounder Keith Alan.

In his latest analysis, Alan warned of consequences in the event of a weekly close under the 2026 yearly open level near $87,500 and the 100-week simple moving average (SMA) at $87,250.

Pay close attention to the weekly close for $BTC! The only thing more bearish than a weekly close below the Yearly Open Timescape Level at $87.5k, would be a weekly close below the 100-Week SMA. pic.twitter.com/WjMitP2Ez6

— Keith Alan (@KAProductions) January 25, 2026

“Wicks don't count, it's the close that matters,” he added in a separate post showing exchange order-book liquidity data and whale orders. 

Data from monitoring resource CoinGlass confirmed 24-hour cross-crypto liquidations of nearly $750 million at the time of writing.

Crypto liquidation history (screenshot). Source: CoinGlass

“Based on Bitcoin losing the mid-range; HTF liquidations to the downside; and the possible US Gov. shutdown, we still think that the most likely scenario is that Bitcoin drops back to low $80s in the coming weeks,” trader CrypNuevo forecast at the weekend.

BTC/USDT one-day chart. Source: CrypNuevo/X

In a bold prediction, meanwhile, trader, analyst and commentator BitQuant went on record to announce an inflection point for BTC price action.

“The coming week is significant in that it marks the end of the bottoming phase,” he told X followers.

BitQuant retains the view that a long-term high for Bitcoin has not yet been reached, with this due at $145,000.

Fed to conduct first FOMC meeting of “wild year”

The Federal Reserve’s decision on interest rates forms the week’s key macroeconomic event, but traders have multiple volatility sources to contend with.

These include worries over the Japanese economy and the Fed’s move to buy yen, along with international trade questions still hanging in the air.

On Wednesday, the Federal Open Market Committee (FOMC) will announce any changes to its benchmark rate, with Chair Jerome Powell delivering guidance in an accompanying speech and press conference.

Markets will be watching Powell’s language in particular for signs of policy change. Expectations for the meeting itself have long been that rates will stay the same.

Fed target rate probabilities for Jan. 28 FOMC meeting (screenshot). Source: CME Group FedWatch Tool

At the same time, tensions between him and US President Donald Trump remain, along with a legal investigation into Fed building renovations that Powell dismissed as a pretext for changing his policy trajectory before his imminent replacement.

“The Chief Investment Officer of BlackRock is now expected to be the next Fed Chair. And, Trump says cutting rates is a ‘requirement’ for the next Fed Chair and is actively calling for 1% interest rates. 2026 is going to be a wild year,” trading resource The Kobeissi Letter commented on X.

Macro data itself has given mixed signals over US inflation. Regardless, stocks continue to enjoy a strong start to 2026, while crypto languishes.

“Loose monetary policy and an expanding global money supply are key drivers behind bullish financial conditions. But if those conditions also deliver stronger than expected economic growth, inflation could become more problematic in the year ahead,” trading outfit Mosaic Asset Company wrote in the latest edition of its regular newsletter, “The Market Mosaic.”

“Core measures of consumer inflation have remained near the 3% level on a year-over-year basis, with the disinflation trend since mid-2022 stalling out well above the Fed’s 2% inflation target.”

Global liquidity conditions. Source: Mosaic Asset Company

Mosaic warned that a rebound in inflation this year would trigger moves seen during the 1970s.

This week, meanwhile, will also see the December print of the Producer Price Index (PPI). November’s release came in above expectations.

“World is waiting on crypto” as gold, silver boom

In a predictable milestone, gold and silver crossed historic thresholds to start the week, passing the $5,000 and $100 marks, respectively.

XAU/USD reached $5,111 per ounce, with XAG/USD hitting $110 for the first time during Monday’s Asia trading session.

XAU/USD one-hour chart. Source: Cointelegraph/TradingView

The relentless rise in precious metals continues as Bitcoin and altcoins fail to catch a bid, having been stuck in a narrow range for several months. 

That inverse relationship is now beginning to make waves beyond the crypto trading community.

“Where is Bitcoin?” The Kobeissi Letter queried in a dedicated X post on the phenomenon. 

“Silver prices are now outperforming Bitcoin by one of their widest margins on record. In ~13 months, Silver is up +270% as Bitcoin has fallen -11%. This makes Silver's market cap 3.5 TIMES larger than Bitcoin. The world is waiting on crypto.”

BTC/USD vs. CFDs on silver % change. Source: The Kobeissi Letter/X

Kobeissi suggested that the threat of another US government shutdown, which it described as “likely,” was “adding fuel to the fire” across precious metals.

Van de Poppe captured the pro-crypto mood around BTC versus gold.

“Bitcoin vs. Gold is the cheapest it has ever been. At least, the gap between the two has never been this big in terms of fair value. The 2-Week RSI is the lowest ever. Lower than in 2022, lower than in 2018,” he wrote Sunday. 

“It doesn't make sense to be valuing an asset like Bitcoin against the dollar, it makes sense to value Bitcoin against other assets, in this case Gold. In that aspect, Gold is expensive, Bitcoin is super cheap.”

BTC/USD vs. gold two-week chart with RSI, volume data. Source: Michaël van de Poppe/X

At the same time, Van de Poppe revealed an unprecedented potential bullish divergence on BTC/XAG.

“What does this say? This does say that the coming week is going to be extremely volatile and could indicate a bottom on this metric and therefore, Silver is likely to peak and money is likely rotating towards other assets,” he commented.

BTC/XAG three-day chart with RSI, volume data. Source: Michaël van de Poppe/X

Short-term holders panic at a loss

BTC price action may be rangebound, but onchain activity shows that newer investors are as sensitive as ever to sudden moves.

Uploading data to X from onchain analytics resource Checkonchain, the analytics account named after famous economist Frank Fetter wrote that loss-making trades were making history.

“Short-term holders are realizing losses at historic levels on the bitcoin CRASH to $86k,” it stated.

The data showed the realized profit/loss ratio for Bitcoin’s short-term holder (STH) cohort — the group of wallets holding a given amount of BTC for six months or less.

The proportion of transactions from STH wallets in which BTC is moving at a lower price than that at which it last moved is now higher than ever. The ratio is lower than during the 2022 bear market bottom, when BTC/USD hit $15,600 after a near 80% drop from its old 2021 all-time highs.

Bitcoin STH realized profit/loss ratio. Source: Frank A. Fetter/X

Continuing, onchain analytics platform CryptoQuant confirms that the overall BTC supply has crossed a bearish profit threshold of its own.

Supply in profit currently stands at 62% — the lowest level since September 2024, when Bitcoin traded at around $30,000.

“When Bitcoin Supply in Profit drops below 70% and fails to recover above 80%, it is historically a sign of a potential further decline and often a confirmation of a bear market,” contributor El Crypto Tavo wrote in an accompanying “Quicktake” blog post.

BTC supply in profit. Source: CryptoQuant

Bitcoin selling “genuine but controlled”

Discussing the weekend’s drop to $86,000, CryptoQuant appeared unalarmed.

Analyzing volume delta on exchange order books, contributor Arab Chain argued that the market was not experiencing a rush for the exit.

Volume delta reached a relatively modest $59.6 million on Binance during the dip, indicating only slight dominance of sellers over buyers.

“Numerically, this represents significant selling pressure; however, its true significance becomes apparent when compared to price action,” Arab Chain explained. 

“Despite this large negative figure, no sharp price collapse was observed, indicating strong liquidity absorption within the order book.”

Bitcoin buy-side pressure vs. BTC/USD (screenshot). Source: CryptoQuant

Volume delta z-score readings, it added, represented “short-term tactical selling pressure rather than a phase of panic or widespread forced liquidation.”

Last week, Cointelegraph reported on split intentions among the professional Bitcoin investor base amid unclear price trends heavily influenced by external factors.

“These values reflect genuine but controlled selling pressure, characterized by elevated selling liquidity, limited imbalance, and moderate statistical deviation,” Arab Chain concluded. 

“This combination often defines rebalancing phases, during which momentum temporarily weakens without a breakdown in market structure.”