Yellow Korea

Brian Armstrong said Coinbase can no longer support the current draft of the U.S. Senate virtual asset market structure bill, highlighting an increasing rift between lawmakers and the cryptocurrency industry over the regulation of digital assets. assets should be regulated.

Brian Armstrong stated that, after reviewing the draft of the U.S. Senate Banking Committee's bill over the past 48 hours, the company concluded that the bill would be 'significantly worse than its current state'.

Bitcoin's breakout above the $96,000 level on Wednesday, according to a Glassnode report, was more supported by market structure than sustained demand, warning that volatility risks are being delayed, not resolved.

On Wednesday evening, Bitcoin was trading at $97,500 and was up 3.5% as of the time of writing.

Bitcoin pushed sharply upward into a historically significant resistance zone (overhead supply) between approximately $93,000 and $110,000, after making two consecutive higher highs.

The U.S. Securities and Exchange Commission (SEC) has concluded its investigation into the Zcash Foundation (ZEC) and decided not to take any enforcement actions. This ends the investigation initiated in August 2023 regarding whether the fundraising and governance aspects of the privacy-focused Zcash project violated U.S. securities laws.

As a result of this decision, the regulatory risk (overhang) that had suppressed the Zcash ecosystem for over two years has been removed.

This decision by the SEC came amid a broader shift in the U.S. cryptocurrency enforcement policy under the Trump administration. During this period, the SEC dismissed or dropped a significant portion of cryptocurrency-related cases.

U.S. Senators unveiled a draft bill this week aimed at defining the approach to cryptocurrency regulation in the United States. Industry experts believe this measure could begin to resolve the legal uncertainty that has constrained investment, product development, and institutional participation for years.

This proposal aims to establish a clearer definition of digital assets and formally allocate regulatory responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

OnRe, a Bermuda-based tokenized reinsurer, announced it has delegated $150 million to Rhodium Re, a Dubai-based managing general agent (MGA), marking a strategic entry into the Middle Eastern reinsurance market.

This partnership aims to connect OnRe's tokenized capital base with acquisition opportunities in Gulf Cooperation Council (GCC) countries, including the United Arab Emirates (UAE), Saudi Arabia, Qatar, Kuwait, Bahrain, and Oman.

Bitwise Asset Management's spot Chainlink ETF began trading on NYSE Arca under the ticker CLNK, coinciding with a Senate Banking Committee draft bill that assigns LINK the same product classification as Bitcoin.

Chainlink rose approximately 4% within 24 hours after the two announcements, trading volume increased by 45%, and open interest in futures reached $665 million.

This ETF launched with $25 per share and $2.5 million in seed capital, offering full fee waivers for assets up to $500 million for the first three months, after which the management fee is set at 0.34%.

South Korea's largest cryptocurrency exchange, **Upbit**, listed Ethena's synthetic stablecoin USDe on Tuesday, prompting BitMEX co-founder **Arthur Hayes** to predict that the project's governance token ENA would reach $1. Background information on USDe can be found at Ethena's synthetic stablecoin.

This listing took place just days after the Dubai Financial Services Authority removed USDe from its approved stablecoin regulatory framework, highlighting differing regulatory approaches towards delta-neutral cryptocurrencies.

MANTRA CEO John Patrick Mullin announced on Wednesday a company-wide restructuring and workforce reduction, citing the unsustainable cost structure due to the project's token crash in April 2025 and prolonged market challenges.

As part of a plan described by Mullin as a shift toward capital efficiency and focused execution, MANTRA, a physical asset tokenization platform, plans to reduce staff across business development, marketing, human resources, and support departments.

DZ Bank received MiCAR authorization from Germany's financial regulator BaFin by the end of December 2025, paving the way for around 700 cooperative banks to offer cryptocurrency trading services.

This authorization allows DZ Bank, the second-largest bank in Germany by asset size, to operate the meinKrypto platform, which is set to be directly integrated into the VR Banking App used by cooperative bank network customers.

Individual Volksbanken and Raiffeisenbanken must submit their own MiCAR notifications to BaFin before activating services for retail customers.

**High Roller Technologies** has signed a binding letter of intent with Crypto.com Derivatives North America to launch event-based prediction markets in the United States, aiming for a Q1 2026 launch.

Online casino operator High Roller will offer prediction market contracts covering sports, entertainment, and financial events through its HighRoller.com platform.

Crypto.com Derivatives North America operates as a CFTC-registered exchange and clearinghouse, providing a federal regulatory compliance framework for this partnership.

Ethereum rose approximately 7% over 24 hours, reaching $3,328, completing an upward breakout of the cup-and-handle pattern. Technical analysts suggest that the second-largest cryptocurrency by market cap could rise to around $4,000.

This breakout occurred amid increasing trading volume on January 13th, which is considered a key confirmation signal to distinguish between a sustainable trend reversal and a false breakout.

The pattern's measured target is suggested to be around $4,010, but multiple momentum and on-chain indicators suggest Ethereum may hit resistance before reaching that level.

VanEck stated that Bitcoin's (BTC) long-observed 4-year market cycle may have broken in 2025, and this shift could complicate traditional crypto market signals ahead of 2026, compelling investors to reconsider their approach to timing, risk, and digital asset positioning.

In its outlook for the first quarter of 2026, the asset manager said that Bitcoin's price movement last year diverged from the typical post-halving pattern that had previously driven market expectations.

On Tuesday, **Polygon Labs**, an Ethereum (ETH) scaling network, finalized a deal to acquire cryptocurrency exchange Coinme and wallet provider Sequence for over $250 million. Polygon is thus shifting its focus toward the regulated stablecoin payments sector.

This acquisition signifies a strategic shift towards a payment business that generates revenue from a token-centric blockchain infrastructure, with Polygon Labs aiming to achieve annual revenue exceeding $100 million through transaction fees.

UK清算 bank ClearBank has chosen Swiss infrastructure provider Taurus to expand its stablecoin-based payment services.

Through this partnership, ClearBank will adopt Taurus-PROTECT, a wallet infrastructure provider for digital asset custody and management.

The initial focus of the integration is aligned with stablecoins such as USDC and EURC compliant with MiCAR regulations, through connecting with Circle Mint and Circle's institutional issuance platform.

Ukrainian regulators have blocked access to the prediction market platform Polymarket, classifying the service as illegal gambling under national law.

The State Commission for Telecommunications Regulation issued Resolution No. 695, demanding internet service providers restrict access to platforms.

The polymarket.com domain has been added to Ukraine's public blocking registry, but enforcement remains inconsistent, with some users still reporting they can access the site.

A special purpose acquisition company (SPAC) sponsored by cryptocurrency exchange Kraken has filed for an initial public offering (IPO) worth $250 million on **Nasdaq**.

KRAK Acquisition plans to offer 25 million units at $10 each, with the ticker symbol KRAQU expected to be traded.

The leadership of this SPAC includes **Ravi Tanaku**, co-founder of Natural Capital, as CEO, and **Robert Moore**, former strategic vice president at Kraken, as a board member.

Asset manager 21Shares has listed a Bitcoin-gold hybrid exchange-traded product (ETP) on the London Stock Exchange.

The BOLD ETP became the first UK-listed product to offer retail investors combined exposure to cryptocurrencies and traditional assets within a single product.

As of January 12, the product's net asset value is $40.1 million.

The annual management fee is 0.65%.

What happened?

The 21Shares BOLD ETP combines physical-backed Bitcoin and gold through a monthly rebalancing strategy.

I was recently identified as the latest figure under suspicion of leading another 'rug pull' scam in the cryptocurrency industry, former New York City Mayor **Eric Adams**. Accused of launching a meme coin under the pretense of combating antisemitism and anti-American sentiment, while promoting blockchain education, he allegedly withdrew hundreds of millions of dollars in liquidity once the coin's price peaked, leaving investors with massive losses. This has led to investors suffering massive losses.

What happened?

**Bitcoin** is continuing to test the 93,500~95,000 USD resistance level, despite the sharp reduction in the U.S. trade deficit, which appears to be driven more by reduced imports than by broad domestic demand strength, as the labor market, while maintaining low unemployment, has seen a slowdown in job growth and has temporarily paused hiring.

What happened: Trade deficit reduction

Recent U.S. macro indicators suggest, according to this analysis, that the economy has not yet entered a full-blown recession, but rather is in a phase of slowing economic activity.

More than 53% of all cryptocurrencies tracked by CoinGecko since 2021 have failed, and in 2025 alone, 11,600,000 tokens collapsed, accounting for 86.3% of the total recorded project failures.

What happened: Cryptocurrency collapse data

study analyzed cryptocurrency projects listed on GeckoTerminal from July 1, 2021, to December 31, 2025, and it became evident that the fourth quarter of 2025 was particularly disastrous.

During this three-month period, approximately 7,700,000 tokens collapsed, representing 34.9% of all failures.