Kraken Delays IPO Due to Challenging Crypto Market Conditions: Report

The President’s Council of Advisors on Digital Assets criticized Coinbase for withdrawing support from the Senate's crypto market structure bill. Concerns were raised about provisions on stablecoin rewards, tokenized equities, and regulatory scope, with industry players warning of potential harsher regulations in the future.

Lawmakers are considering expanding the CFTC's oversight of crypto markets, which would necessitate hiring more staff and enhancing technical expertise. The agency's workforce has decreased by about 21.5%, posing challenges in adapting to the evolving regulatory landscape.

Delaware Life Insurance Company has introduced a fixed indexed annuity linked to the BlackRock U.S. Equity Bitcoin Balanced Risk 12% Index, providing indirect exposure to Bitcoin through an ETF. This innovative product offers principal protection with limited growth potential, appealing to financial professionals and their clients.

The crypto market's total capitalization has dropped to $3.01 trillion, with Bitcoin and Solana breaking critical support levels. Bitcoin's price fell to $89,208, breaking an ascending trendline and invalidating a recent "golden cross" formation.

Trump Media and Technology Group plans to distribute tokens to shareholders, setting a cutoff date for investors on Feb. 2. The tokens, minted in partnership with Crypto.com, will not represent interest in Truth Social or be transferable for cash.

Despite Donald Trump's embrace of bitcoin (BTC) and the support from prominent Bitcoiners, BTC's value fell by more than 11% in his first year in office, trading at less than $90K from $101K. In contrast, during Joseph Biden's first year, BTC saw an increase of nearly 16%.

Ethereum transactions reached a record high, with over 2.8 million daily transactions on January 16. The surge was mainly driven by a mass address poisoning attack, a type of crypto scam becoming more prevalent.

Bitcoin's price fluctuated between $90,000 and $91,000, experiencing a 2.5% drop. Strategy, SharpLink Gaming, and MARA Holdings saw their shares decline amidst the market turbulence. Despite the geopolitical uncertainty caused by President Trump's tariff threats, analysts remain cautious about Bitcoin's future performance.

Strategy recently made its largest purchase in over nine months, acquiring 22,300 Bitcoin for $2.1 billion. The company financed the purchase by issuing common stock and selling preferred shares, including STRC, a product marketed as an alternative to savings accounts.

Bitmine Immersion Technologies acquired over 35,000 ETH last week, increasing its total holdings to 4.2 million ETH valued at $12.8 billion. The firm also holds 192 Bitcoin and $979 million in cash, with plans to earn over $1 million daily through staking.