Last night's and this morning's important news (January 19 - January 20)

Sky Protocol repurchased 31.57 million SKY tokens last week, totaling over $102 million

According to official data from Sky, Sky Protocol repurchased approximately 31.57 million SKY tokens last week at a cost of $1.9 million. To date, this decentralized buyback mechanism has invested over $102 million.

MegaETH launches mainnet on January 22, initiating a global stress test

According to MegaETH’s official announcement, its mainnet will launch on January 22, starting a 7-day global stress test aimed at processing 11 billion transactions and achieving 15,000 to 35,000 TPS. Multiple on-chain interactive applications will be launched during the test to assess system stability under high load. The mainnet will then be officially open, initially integrating USDM-driven DeFi and consumer applications.

FG Nexus sells another 2,500 ETH, still holding over 37,000 ETH

Ethereum treasury company FG Nexus sold an additional 2,500 ETH today, worth about $8.04 million. It currently holds 37,594 ETH, valued at approximately $119.7 million at current prices. Previously, from November 18-19, 2025, the company transferred 10,975 ETH to Galaxy Digital, worth about $33.6 million.

Pump.fun establishes investment arm Pump Fund and launches $3 million hackathon

Pump.fun announced that its newly established investment arm, Pump Fund, will launch a “Build in Public” hackathon with a total prize pool of $3 million. It will fund 12 projects, each receiving $250,000, with a valuation of $10 million. Participants must issue tokens and publicly build their projects, emphasizing user market as the core evaluation criterion. Non-crypto projects are also eligible. Registration closes on February 18, with the first batch of winners announced within 30 days.

One-year and five-year LPR remain unchanged

The People’s Bank of China has kept the one-year and five-year Loan Prime Rates (LPR) steady at 3% and 3.5%, respectively, for the eighth consecutive month.

Bermuda announces plans to create the world’s first fully on-chain national economic system

According to Circle’s official website, the Bermuda government announced at the Davos World Economic Forum its plan to build the world’s first fully on-chain national economic system supported by Circle and Coinbase. The initiative will promote digital payments, asset tokenization, and financial education through the stablecoin USDC, alleviating high local payment costs and infrastructure limitations. Circle and Coinbase will provide blockchain infrastructure and tools for the government, banks, and merchants. This initiative is based on Bermuda’s 2018 digital asset regulatory framework.

Zama launches staking on mainnet with 18 operational nodes

Open-source cryptography company Zama, which develops advanced Fully Homomorphic Encryption (FHE) solutions, announced that its $ZAMA token staking feature is now live on the mainnet. Token holders can delegate tokens to 18 operational nodes to earn rewards. Nodes are divided into FHE nodes and KMS nodes, handling encrypted computation and threshold decryption respectively. Staking rewards are allocated based on node roles: 40% to FHE nodes and 60% to KMS nodes, distributed proportionally to the square root of their weights. Staked tokens represent shares that can be redeemed for rewards at any time, with a unbonding period of 7 days. Zama’s staking portal is now open, and public participants can claim and stake tokens starting February 2.

Bhutan’s sovereign wealth fund Druk Holdings linked address leverages Aave to long ETH

According to Emmett Gallic citing Arkham data, an address associated with Bhutan’s sovereign wealth fund Druk Holdings appears to be engaging in leveraged long positions: withdrawing 42,000 ETH and $54 million USDT from Binance, converting USDT to ETH, depositing into Aave, and borrowing $275 million USDT to buy more ETH. The current leveraged position is approximately 117,000 ETH, worth about $459 million.

Bitmine adds staking of 86,848 ETH, worth about $279.4 million

According to Onchain Lens, Bitmine has added staking of 86,848 ETH, valued at approximately $279.4 million. Its total staked ETH now amounts to 1,771,936 ETH, with a total value of about $5.65 billion at current prices.

Suspected whale selling 13,000 ETH, worth $41.75 million

According to Lookonchain, a suspected whale is selling 13,000 ETH (worth $41.75 million). Galaxy Digital’s OTC wallet recently transferred out 13,000 ETH and deposited 6,500 ETH (worth $20.89 million) into Binance, Bybit, and OKX exchanges.

Coinbase reaches agreement to acquire prediction market firm The Clearing Company

According to the official blog, Coinbase announced it has reached an agreement to acquire the prediction market startup The Clearing Company to accelerate its “All-in-One Exchange” vision for prediction markets. The acquisition aims to leverage The Clearing Company’s expertise in prediction markets to expand and strengthen prediction market trading on Coinbase. The platform has begun offering prediction market trading to users last week, allowing them to trade on real-world event outcomes within a familiar interface. Coinbase states that this acquisition will integrate professional talent and compliant market channels, laying a foundation for long-term expansion in this field.

Magic Eden: Starting February 1, 15% of all revenue will be directly injected into the ME token ecosystem

According to official sources, Magic Eden announced that starting February 1, 15% of all platform revenue will be directly injected into the ME token ecosystem to establish long-term value sharing. This revenue will be split evenly: 50% will be used to buy back ME tokens on the open market, and 50% will be distributed to $ME stakers in USDC based on staking weight. This will replace the previous buyback mechanism limited to market revenue. USDC rewards can be claimed monthly, with the first claim available in March. Rewards must be claimed within 90 days, or they will expire.

OpenAI plans to launch its first hardware device in late 2026

According to Walter Bloomberg, OpenAI policy chief Chris Lehane revealed that the company plans to launch its first hardware device in late 2026. Since acquiring Jony Ive’s AI hardware company io, CEO Sam Altman has hinted at a simple, screenless AI device, but details remain limited. Lehane said OpenAI expects to release the product by the end of 2026, though the sales date has not been set.

Central Political and Legal Work Conference: Conduct proactive research on new issues like virtual currencies and propose legislative suggestions

According to the Chang’an Jian public account of the Central Political and Legal Affairs Commission, the Central Political and Legal Work Conference was held in Beijing on January 18-19, which outlined the 2026 political and legal work. It emphasized conducting forward-looking research on new issues such as the rights protection of new employment groups, virtual currencies, and low-altitude economy, and actively proposing legislative suggestions. It also called for strengthening research on new technologies, preventing the use of blockchain and other encryption technologies to evade regulation, and cracking down on behaviors like generating and disseminating false information using artificial intelligence.

Analysis: Crypto market recovery in 2026 depends on ETF expansion, large-cap leadership, or retail attention return

According to Wintermute analysis, the traditional four-year cycle of the crypto market has broken down, with 2025 marking a shift from speculation to a mature asset class. The 2025 market was highly centralized. Bitcoin ETFs and Digital Asset Treasury (DAT) formed a “capital encirclement,” providing sustained demand for large-cap assets, but capital did not naturally rotate into broader markets. OTC data shows that the wealth transfer effect from Bitcoin to Ethereum, blue chips, and altcoins weakened significantly in 2025. Altcoin rebound cycles shortened from 60 days in 2024 to 20 days. The report states that for the market to break out of centralization in 2026, at least one of three conditions must be met: 1. ETF and DAT expand investment scope—current liquidity remains confined to institutional channels, with early signs of ETF applications for SOL and XRP. 2. Major assets surge—strong gains in Bitcoin or Ethereum could spill over into broader markets. 3. Retail attention returns—retail investors shift focus from hot AI, rare earth stocks, etc., back to crypto, bringing new funds and stablecoin issuance. The market in 2026 will depend on whether these catalysts can truly direct liquidity beyond a few large-cap assets.

YZi Labs announces investment in on-chain trading terminal Genius

According to the official blog, YZi Labs announced an investment in the on-chain professional trading terminal Genius, aiming to accelerate building a private, high-speed on-chain trading platform. The investment supports infrastructure capable of providing centralized exchange-level speed, liquidity, and privacy, while allowing users to retain full control of their assets. Genius’s core advantage is its “Ghost Orders” feature, which uses multi-party computation to generate temporary wallet clusters that coordinate, enabling large traders to execute complex strategies across hundreds of addresses while keeping funds confidential and supporting encrypted audits. The system remains non-custodial. The new funding will be used to accelerate development of its privacy protocol, with plans for public access by late 2026, and to expand liquidity across more than 10 supported chains.

PancakeSwap: CAKE token maximum supply now adjusted to 400 million

PancakeSwap announced on X that its proposal to reduce the maximum supply of CAKE tokens has been approved, and the maximum supply is now set at 400 million CAKE.

EU to hold emergency summit to respond to Trump’s “Island Seizure” tariffs

According to Xinhua, EU Commission spokesperson Olov Gyll19 announced that an emergency summit will be held in Brussels, Belgium, on the 22nd to discuss US President Trump’s announcement of tariffs on European countries opposing the US’s Greenland island seizure, and to evaluate possible EU countermeasures. Gyll said that EU-US contact and communication regarding Trump’s tariff threats are ongoing at all levels. The EU is also conducting intensive consultations with member states on possible responses. The EU will “make all necessary efforts” to defend its interests. Gyll stated that the EU’s primary task is “engagement, not escalation.” However, he added that if the US implements the tariffs, “the EU has tools at its disposal and is prepared to respond.”

YZi Labs launches EASY Residency Season 3, shifting to year-round rolling admissions

According to YZi Labs, its startup acceleration program EASY Residency Season 3 will shift from fixed cohorts to a year-round rolling admission model, establishing long-term startup centers in New York and the San Francisco Bay Area. The program offers up to $500,000 in investment, including $150,000 SAFE investment plus an additional $350,000 on an uncapped SAFE. Selected teams will receive office space, housing stipends, and resources from partners like Amazon AWS. Three global demo days will be held annually, with the first in April during TOKEN2049 in Dubai. The third season will focus on Web3, AI, and biotech, seeking early-stage projects in on-chain trading markets, stablecoins and payment infrastructure, tokenization of real-world assets, enterprise AI agents, robotics, and new drug R&D. Mentors and speakers include Binance co-founders CZ and He Yi, Ethereum co-founder Vitalik Buterin, and other industry leaders.

NYSE announces development of tokenized securities platform

According to Businesswire, NYSE announced it is developing a tokenized securities trading and on-chain settlement platform, seeking regulatory approval. The platform will support tokenized trading experiences, including 24/7 operation, real-time settlement, USD-denominated orders, and stablecoin-based financing. It will integrate NYSE’s Pillar matching engine and blockchain-based post-trade system, supporting multi-chain settlement and custody. Once approved, the platform will provide a new trading venue for NYSE, supporting trading and tokenized stocks interchangeable with traditional securities, as well as native digital securities tokens. Tokenized shareholders will enjoy traditional dividends and governance rights. The design complies with market structure principles and will be distributed through non-discriminatory channels to all qualified broker-dealers.

A suspected whale borrows another 155 million USDT and acquires 65,700 stETH in under 4 hours

According to Onchain Lens, the whale “0x81D” borrowed an additional 155 million USDT and purchased 65,700 stETH in the past 4 hours. Currently, this whale holds a total of 142,777 ETH across two wallets, valued at $460.11 million.

Whale Garrett Jin: Current Bitcoin market is fundamentally different from 2022; bearish outlook is premature

Suspected “Insider Whale 1011” Garrett Jin posted on X that comparing the current Bitcoin market to 2022 is unprofessional. He believes that, based on long-term price structure, macro background, investor composition, and chip distribution, there are fundamental differences. He pointed out that the macro environment now is the opposite of the high-inflation rate hike cycle of 2022: the Ukraine situation is easing, CPI and risk-free rates are declining, and the AI revolution may push the economy into a long-term deflation cycle. Rates are in a cut phase, and central bank liquidity is returning to the financial system, defining risk appetite. Since 2020, Bitcoin’s year-over-year change correlates negatively with CPI, and under AI-driven technological change, long-term deflation is highly probable. Technically, 2021-2022 saw a weekly M-top structure, while 2025 broke the upward channel, more likely a “bear trap” before a rebound. To replicate the 2022 bear market, conditions such as inflation shocks re-emerging, central banks restarting rate hikes or QT, and price decisively falling below $80,850 would need to be met—these are stringent. It is premature to be bearish before these conditions are fulfilled. Regarding investor structure, 2020-2022 was dominated by retail leverage speculation, but since the launch of Bitcoin ETFs in 2023, long-term institutional holders have entered, effectively locking supply and significantly reducing trading velocity and volatility. Bitcoin’s volatility has shifted from 80-150% historically to 30-60%, making it a very different asset. The market has entered a more mature institutional era characterized by stable underlying demand, locked supply, and institutional-level volatility.

Ethiopian Prime Minister states government is seeking partners to mine Bitcoin

According to Bitcoin Magazine, Ethiopia’s Prime Minister said the government is looking for investment partners to mine Bitcoin.

Strive’s perpetual preferred stock first reaches $100 face value, potentially aiding further Bitcoin accumulation

According to CoinDesk, Strive’s perpetual preferred stock (SATA) last week first reached a $100 per share face value, enabling it to issue more shares to raise funds for further Bitcoin purchases. The stock offers a 12% dividend rate, with an effective yield of 12.2%. Strive currently holds 12,797 BTC on its balance sheet, with common stock trading at $0.94. The SATA structure is similar to Strategy’s Stretch (STRC), another Bitcoin reserve company. Trading above face value allows the company to raise cash at market price (ATM) to increase Bitcoin holdings. STRC reached face value earlier this month, with weekly trading volume of $755 million, of which $582 million was above face value—the highest weekly to date.

A suspected whale adds 8,085 ETH again, with a total of 50,537.79 ETH accumulated in the past 24 hours

According to on-chain analyst @ai_9684xtpa, a whale that built 42,452.79 ETH in one day has added another 8,085 ETH. The address 0x81D…74246 bought ETH again at an average price of $3,932.8 in the past 45 minutes, spending $31.79 million; over the past 24 hours, it has accumulated a total of 50,537.79 ETH, worth $162 million. The accumulation appears to be ongoing.

Supreme Procuratorate: Increase anti-money laundering efforts, focus on cracking down on underground banks and virtual currency money laundering

According to Xinhua, at the National Procurator-General Conference held in Beijing on January 19, the Supreme People’s Procuratorate made deployment for serving high-quality development. It requires, among other things, that prosecutors lawfully safeguard economic and financial security, severely punish serious economic crimes, and promote a legal business environment. It emphasizes cracking down on crimes such as smuggling strategic minerals and illegal financial intermediaries, protecting national strategic interests; working with the Financial Regulatory Administration to regulate illegal financial intermediaries, cracking down on illegal fundraising and financial fraud, and fighting all links of financial “black and gray” industries to ensure financial stability and protect people’s property. It also calls for increasing anti-money laundering efforts, especially targeting underground banks and virtual currency money laundering.

CoinShares: Digital asset investment products saw net inflows of $2.17 billion last week

According to CoinShares’ latest weekly report, last week saw inflows of $2.17 billion into digital asset investment products, the largest weekly inflow since October 10, 2025. Earlier in the week, inflows were stronger, but by Friday, market sentiment turned negative due to escalating diplomatic tensions over Greenland and threats of additional tariffs, resulting in outflows of $378 million. Additionally, news that potential Fed Chair candidate and policy dove Kevin Hassett might remain in his current role also pressured market sentiment. Regionally, sentiment was generally positive, led by the US with inflows of $2.05 billion, followed by Germany, Switzerland, Canada, and the Netherlands with inflows of $63.9 million, $41.6 million, $12.3 million, and $6 million respectively. Bitcoin led with inflows of $1.55 billion. Despite the U.S. Senate’s “Clarity Act” proposing restrictions on stablecoins’ yield offerings, Ethereum and Solana still saw inflows of $496 million and $45.5 million. Many altcoins also experienced inflows, notably XRP ($69.5 million), Sui ($5.7 million), LIDO ($3.7 million), and Hedera ($2.6 million). Blockchain stocks performed strongly this week, with total inflows of $72.6 million.

A suspected Fenbushi Capital-linked wallet deposits 7,798 ETH into Binance, worth $25 million