CHAIN news

At 2 a.m. on January 14, the cryptocurrency market was completely shaken. After being dormant for over two months, Bitcoin suddenly surged, breaking through the 94,500 USD barrier that had been weighing heavily on the market, peaking at 96,495 USD, marking a new high in nearly two months.
Behind the celebration lies the nightmare of short sellers. Data shows that within 24 hours, the total liquidation amount across the crypto futures market exceeded 685 million USD, with 598 million USD coming from short positions—those who bet on Bitcoin's decline around 94,000 USD were nearly wiped out overnight.
Was this surge a short-term rebound 'dead cat bounce,' or a signal of a new bull run in 2026? Understanding these key points will help you know how to respond next.

The recent investment market can truly be described as 'boiling'. Overnight, cryptocurrencies took the lead, with Bitcoin (BTC) breaking through the $96,000 mark, and Ethereum (ETH) surging past $3,300; meanwhile, gold and silver continuously hit new all-time highs, U.S. stocks reached record highs, and China's A-share market kicked off the year with a 'strong start'.
From precious metals to equities and the crypto market, nearly all major investment assets are on the rise. What is driving this broad market rally? Will the highly watched crypto market continue its upward momentum? Let's break it down in plain language.

The crypto market at the beginning of 2026 shows a 'dual nature' of extremes: on one hand, U.S. regulatory attitudes continue to ease, with strong signals of institutional capital entering the market and on-chain financial innovations steadily materializing; on the other hand, industry consolidation accelerates, low-quality projects are exiting en masse, and market polarization becomes increasingly evident. Several key developments disclosed this week are outlining the new contours of the crypto industry's evolution.
I. Frequent regulatory warmth: SEC ends investigation, industry legislation advances with institutional support
The regulatory uncertainty in the crypto industry is gradually dissipating. On Wednesday, the Zcash Foundation announced that the U.S. Securities and Exchange Commission (SEC) has officially concluded its long-standing investigation into the organization and has no plans to take enforcement actions or require remediation. It was reported that the SEC had previously issued a subpoena to the foundation in August 2023, focusing on specific cryptocurrency issuance matters.

1. The U.S. Senate's cryptocurrency bill has entered a critical voting phase, with over 70 amendments pending review
The Senate Banking Committee will hold a hearing and vote on the Cryptocurrency Market Structure Act this Thursday. Over 70 bipartisan amendments have already been submitted, with disputes focusing on stablecoin reward limitations, regulatory boundaries for DeFi, and jurisdictional divisions between the SEC and CFTC. The bill's chair, Tim Scott, stated that Trump-related cryptocurrency ethics provisions will be handled separately and not included in this bill; the stablecoin reward clause has been adjusted to retain only rewards for active usage and transactions. If the vote proceeds smoothly with some Democratic support, the bill could become law this year.

Entering January 2026, the on-chain progress of real-world assets (RWA) has accelerated significantly. Despite a major pullback in the broad market due to a change in statistical methodology, both core asset size and user numbers have risen. Private credit emerged as the standout growth engine in this period. Meanwhile, regulatory policies regarding stablecoins have been frequently adjusted globally, with policy developments in South Korea, the U.S., Hong Kong, and other regions introducing new market variables.
I. Key Data: On-Chain Scale Accelerates Expansion, Private Credit Drives Growth
According to the latest data from rwa.xyz (as of January 13, 2026), the total on-chain value of RWA continues its upward trend, increasing from $19.59 billion to $20.81 billion in a single week, a net gain of $1.22 billion, representing a 6.23% increase—significantly faster than the previous week's 2.83% growth rate. Notably, due to a change in statistical methodology, the broad RWA market size experienced a substantial decline, shrinking from $401.53 billion to $282.68 billion, a drop of 29.6%. However, this adjustment did not affect the growth momentum of core assets.

The recent focus in global financial markets centers on two developments: the final countdown for confirming the Federal Reserve Chair, and traditional financial institutions rapidly embracing the cryptocurrency sector. From the Federal Reserve's policy signals to fund products 'going on-chain,' from ETF capital flows to corporate listings, a series of developments are painting a new picture of deep integration between macro policy and the crypto market.
First, the issue of the next Federal Reserve Chair人选 has been a major driver of global markets. On January 13 local time, U.S. President Trump clearly stated that he will announce the nominee for the next Federal Reserve Chair within the coming weeks, succeeding Powell, whose term ends in May. This statement comes at a sensitive time as the U.S. Department of Justice investigates Powell, with some Republican lawmakers expressing intentions to block the nomination, yet Trump emphasized his commitment to advancing the selection process.

Although the crypto market hasn't seen explosive movements recently, there's been no shortage of industry developments: on the macro front, the U.S. CPI data has been released, and the Federal Reserve remains on the sidelines; on the industry side, Polygon is investing over $250 million to acquire a foundational stablecoin, while CoinGecko is considering a $500 million sale; on the project front, Zama has launched its token sale, and PancakeSwap plans to reduce CAKE supply. Below, we'll break down these key updates and explain their implications in plain language.
1. Macro and Policy: The Federal Reserve is not in a rush to cut interest rates, and the U.S. crypto bill hearing has been postponed.
Macroeconomic data and regulatory policies have always served as the 'barometer' for the crypto market, and recent developments in both areas have now become clear.

1. Core disputes in the U.S. crypto market structure bill come into focus, with stablecoin yield restrictions becoming the central issue
The Senate Banking Committee released a 278-page text of the crypto market structure bill, proposing to delineate regulatory authority between the SEC and CFTC and clarify the classification of digital assets. The draft prohibits service providers from offering interest or returns to users holding only payment-type stablecoins, allowing exceptions only for incentives tied to staking and similar activities; a stricter amendment limiting stablecoin yields may be submitted and passed. Additionally, ethical provisions concerning the Trump family's crypto business remain unresolved, serving as a 'red line' for Democratic legislators. The bill is now entering a phase of revisions and voting this week.

January 9, 2026, shook the venture capital world with a major news: the renowned firm Andreessen Horowitz (a16z) announced the completion of a new $15 billion fundraising, the largest in its history. More importantly, a16z clearly stated in its official announcement that it will focus heavily on artificial intelligence and cryptocurrency technologies, aiming to help the United States win the technological competition over the next 100 years.
Keep in mind, this $15 billion is no small amount—it accounts for over 18% of the total U.S. venture capital funding in 2025. At a time when the cryptocurrency market is in a quiet phase, characterized by retail investors stepping back and institutions taking the lead, a16z entering with such substantial resources is undoubtedly a powerful boost to the industry. Next, let’s break down how this $15 billion will be spent, especially what major moves a16z plans to make in the crypto space.

On January 11, 2026, a major news flash shook global financial markets: According to (The New York Times), U.S. federal prosecutors have launched a criminal investigation into Federal Reserve Chair Powell over the Federal Reserve headquarters renovation project, with the central question being project cost overruns and whether Powell lied during his testimony before Congress in June of last year.
Faced with the sudden investigation, Powell responded with a firm attitude. He stated outright that the Justice Department's threat of criminal prosecution was merely a 'pretext' and had nothing to do with the renovation project or his congressional testimony itself. The real core issue is: can the Federal Reserve continue to set interest rates based on economic data and evidence in the future, or will it be led by political pressure and intimidation? 'I will not fear political pressure nor favor any position during my tenure, and I will continue to do so in the future.' Powell's statement has pushed what initially appeared to be a 'construction dispute' squarely into the arena of 'politics versus central bank independence.'

1. Intensive U.S. crypto regulatory developments: CFTC establishes Innovation Advisory Committee, Senate delays bill review
The U.S. CFTC renamed the original 'Technology Advisory Committee' to the 'Innovation Advisory Committee', incorporating executives from institutions such as Polymarket and Nasdaq to form the CEO Innovation Committee, focusing on regulatory recommendations regarding crypto assets and prediction markets. Additionally, the Senate Agriculture Committee has postponed the review of the crypto market structure bill to early February, with the chair stating more time is needed to maintain bipartisan support; bipartisan lawmakers jointly introduced the 'Blockchain Regulatory Certainty Act', aiming to grant regulatory exemptions to DeFi software developers.

Open YouTube, and most of the once daily-updating crypto bloggers have stopped posting; the remaining videos have painfully low view counts. Scroll through Twitter (X), and there's no longer the flood of '100x coin' miracles seen in 2024—instead, it's filled with complaints and exhaustion about the market. The viewership of crypto-related content has dropped back to early 2021 levels. Retail capital seems to have vanished into thin air, leaving many wondering: Has the darkest hour of the crypto world arrived?
But interestingly, the Bitcoin price is still fluctuating around $90,000 and hasn't experienced a crash like in 2018 or 2022. The blockchain data giant Santiment has even thrown out a counterintuitive signal: Bitcoin's social sentiment is turning positive. On one hand, retail investors are quietly stepping back; on the other, institutions are holding firm. Where exactly are we in this cycle?

At the beginning of 2026, the cryptocurrency market showed a 'generally stable, locally active' trend. Global cryptocurrency total market capitalization declined slightly by 0.9%, closing at $3.19 trillion, continuing the consolidation and adjustment pattern since October last year. Bitcoin still dominates the market with a market share of 57.1%, and the current market fear index is 26, indicating relatively calm investor sentiment.
Core data: Market capitalization slightly adjusted, ETFs show capital inflow
In terms of market size, total market capitalization slightly contracted from last week's $3.22 trillion, Bitcoin price fluctuated around $90,000, still up 6.65% year-to-date, while Ethereum remained above $3,200.

1. X platform is developing smart asset tags, supporting real-time queries of asset prices and related information
Nikita Bier, Product Lead and Solana Ecosystem Advisor at X, stated that X is developing smart asset tags, allowing users to specify particular assets or smart contracts when posting market updates. Clicking the tag will display real-time prices and all related mentions. The feature is planned for public release next month, with ongoing iterations and feedback collection. In response to community concerns about querying small-cap assets, he emphasized that the platform's API can process any on-chain minted content almost in real time.
2. The U.S. crypto bill has entered the Senate review stage, with Coinbase increasing its lobbying efforts

At the beginning of 2026, the crypto industry is experiencing both the excitement of sustained institutional investment and the challenges of valuation pressure and tightened regulation. Meanwhile, various institutions are gradually revealing their forecasts for the year's trends, as the industry enters a complex new phase.
The encrypted layout of leading institutions is accelerating. Morgan Stanley is making continuous moves, planning to launch Bitcoin, Ethereum, and other trading services on the E*Trade platform this year, and introduce its own digital wallet by the second half of the year to pave the way for future tokenized asset trading; Coinbase's CEO has also clearly outlined the 2026 focus—building a one-stop exchange covering crypto, stocks, and more, expanding stablecoin operations, and driving more users onto the blockchain. On the other hand, Bitcoin treasury companies are struggling, with nearly 40% of leading firms seeing their stock prices fall below the net asset value of their held Bitcoin, even MicroStrategy facing a 17% discount. The strategy of expanding through stock issuance is no longer viable, and the market generally expects the industry to enter a phase of consolidation and mergers.

1. CZ urges that the crypto super cycle is approaching, and the SEC's removal of crypto from the priority risk list is a positive signal
CZ posted on X platform saying 'the super cycle is coming, but it might also be wrong.' The retweeted post shows that the U.S. Securities and Commission has removed cryptocurrencies from the 2026 priority risk list, a move seen as a major positive for the industry.
2. Cathie Wood predicts the U.S. government may purchase BTC to establish a national reserve, and Portugal exempts capital gains tax on BTC held for over one year
Cathie Wood, also known as 'Cathy Wood,' said the U.S. government might buy Bitcoin to build a national reserve, and cryptocurrencies hold significant political importance for Trump's midterm elections, potentially influencing future policy directions. Portugal has introduced new regulations exempting capital gains tax on Bitcoin held for more than one year.

1. Trump warns of another U.S. government shutdown on January 30
Trump said that the U.S. government shutdown might happen again on January 30.
2. U.S. Supreme Court to rule on tariff case on January 14, Treasury says funds available to handle refunds
The U.S. Supreme Court is expected to rule on the Trump administration's tariff policy on January 14 (Wednesday); Treasury Secretary Bessent stated that if the court rules against the tariff policy, the Treasury has sufficient funds to cover any tariff refunds.
3. 30 Democrats support anti-insider trading bill on prediction markets
30 Democrats, including former House Speaker Nancy Pelosi, support the (2026 Financial Prediction Market Public Integrity Act), aimed at preventing elected officials from participating in political-related prediction market gambling. The bill stems from concerns over insider trading following a Polymarket account profiting $400,000 by betting on Maduro's downfall.

The market was bustling at the beginning of 2026, with developments in crypto, AI, and macro policies all gaining momentum, subtly reshaping the industry landscape.
The start-of-year market movement was somewhat unexpected, with meme coins taking the lead. Popular meme coins like DOGE and SHIB rebounded strongly, directly boosting market risk appetite and breaking the traditional pattern where Bitcoin and Ethereum led the market trends. Institutions are optimistic about the full-year crypto market, with Fidelity believing the industry may enter a prolonged 'super cycle' lasting several years, while a16z is particularly focused on the rise of privacy chains. Several institutions also highlighted that opportunities in air drops for Perp DEXs and privacy-focused projects are worth watching.

1. U.S. crypto bill advances, Florida proposes allowing 10% of public funds to invest in Bitcoin and ETFs
Closed-door meeting between Wall Street and crypto industry leaders has made progress on the crypto bill, with the U.S. Crypto Market Structure Act scheduled for review on January 15th, seen as a potential turning point in the Bitcoin cycle. Florida proposes a new bill to establish a strategic Bitcoin reserve, allowing the state government to hold 10% of key public funds in Bitcoin and Bitcoin ETFs.
2. Trump denies pardoning SBF, explicitly supports crypto and reveals the next Fed chair has been determined
U.S. President Trump said in an interview that he has no intention of pardoning SBF, the former CEO of FTX, while defending his family's ties to the crypto industry, stating that supporting crypto is popular among voters. Additionally, Trump revealed that he has already selected the next Fed chair, though he did not disclose the name; prediction markets show Kevin Warsh and Haskett leading in likelihood of appointment.

Want to get into cryptocurrency but confused by terms like 'private key,' 'hot wallet,' and 'custody'? Worried your hard-earned digital assets might be stolen or lost? The U.S. Securities and Exchange Commission (SEC) Office of Investor Education and Assistance has released this guide specifically to help retail investors understand how to hold cryptocurrency safely and avoid storage pitfalls. Whether you're a beginner or an experienced investor, this comprehensive guide on 'how to store cryptocurrency' is worth saving.
I. First understand the core: What is cryptocurrency custody?
Simply put, cryptocurrency 'custody' refers to the way and location you store and access your cryptocurrency assets. Unlike storing cash in a bank card or gold in a safe, cryptocurrency storage relies on 'cryptocurrency wallets'—but note, the wallet doesn't physically hold the cryptocurrency. Instead, it stores the 'keys' that prove your ownership.