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US Senate Democrats restart negotiations on a cryptocurrency market structure bill
According to Coindesk, sources familiar with the matter revealed that U.S. Senate Democrats have returned to the negotiating table to discuss the best approach to a cryptocurrency market structure bill. They held a conference call with representatives of the cryptocurrency industry, where lawmakers discussed next steps in depth.
This week, the Senate's initial vote on the bill was abruptly postponed, after which Democrats attempted to demonstrate their continued readiness to move forward. The draft bill released this week has drawn significant criticism, and US cryptocurrency exchange Coinbase announced it could not support the version.
[Bloomberg: Crypto custody bank Anchorage Digital plans to raise $200-400 million, possibly launching IPO next year]
According to a Bloomberg report on January 17, Anchorage Digital, the first federally chartered crypto bank in the United States, is seeking to complete a new funding round of $200 million to $400 million before its IPO. The company was valued at $3 billion in its last funding round and received investment from institutions such as Goldman Sachs and Apollo.
Several crypto companies have recently accelerated their IPO processes: Custodian BitGo filed for an IPO this week; exchanges Kraken , Bitpanda , and HashKey are also pursuing listing plans in the US, Europe, and Hong Kong, respectively. With the US Office of the Comptroller of the Currency granting trust banking licenses to institutions such as Circle , Ripple , and Fidelity Digital Assets, competition in the traditional custody sector is intensifying.
To expand its business scope, Anchorage recently acquired securitization service platform Securitize For Advisors to broaden its wealth management business, and absorbed smart contract management platform Hedgey to expand its token lifecycle services. It is also venturing into stablecoins and venture capital. Founded in 2017 and obtaining a federal banking license in 2021, its IPO timeline has not yet been officially confirmed.
[Trump says he wants Hassett to remain in his current position; Kevin Warsh's chances of being nominated rise to over 60% ]
Today, when discussing White House National Economic Council Director Hassett, Trump said he wants him to remain in his current position; we'll wait and see.
This statement suggests that Trump may have someone else in mind as his candidate for Federal Reserve Chair, and market expectations for the position have shifted from a two-way race between Kevin Hassett and Kevin Warsh to Warsh leading alone. It's worth noting that Hassett himself commented on this before Trump's speech, stating that Warsh and Rieder would also be excellent Fed Chairs. Perhaps Hassett already knew Trump's final choice.
According to data from the prediction market Polymarket , Hassett's probability of being nominated for the chairmanship has dropped to 15%, on par with Federal Reserve Governor Waller, while Kevin Warsh's probability of being nominated has risen to over 60%, making him the frontrunner and leaving other candidates far behind.
Compared to Trump's close ally and staunch dove Hassett, Kevin Warsh holds a more hawkish stance, but the market expects Warsh to still support interest rate cuts while pushing forward with balance sheet reduction (QT). Earlier this year, Warsh argued that inflation is a choice, not caused by supply chains or geopolitics, but rather by the Federal Reserve's own policy decisions. Warsh is extremely optimistic about the US economic outlook, believing that AI and deregulation will bring about a productivity explosion similar to that of the 1980s.
[White House Chief Crypto Advisor: Bitcoin seized in Samourai case not sold, will be transferred to strategic reserves]
Patrick Witte, executive director of the White House Advisory Council on Digital Assets, issued a statement on social media platform X, confirming with the U.S. Department of Justice that the Bitcoin assets seized in the criminal case involving the developers of the Samourai wallet have not been liquidated and will not be sold in the future. These assets will remain on the government's balance sheet as part of the "Strategic Bitcoin Reserve," in accordance with President Trump's executive order signed in March 2025.
Previously, media reports indicated that the U.S. Marshals Service had allegedly transferred over $6 million worth of Bitcoin from the Samourai case to a Coinbase Prime address in preparation for sale, a move considered to contradict the executive order prohibiting the sale of strategic reserve Bitcoin. Witt's statement formally clarified this.
According to the executive order signed by Trump, the funds for the strategic Bitcoin reserve include Bitcoin assets seized through criminal or civil proceedings, and once deposited into the reserve, they are prohibited from being sold and can only be used to achieve government objectives in accordance with the law.
CryptoQuant : Bitcoin's recent rally is a "bear market rally," demand remains weak.
According to on-chain analytics firm CryptoQuant, Bitcoin's recent price rally looks more like a temporary bounce than a sustained recovery, given that demand remains weak. CryptoQuant noted in a report on Friday, "Bitcoin has risen 21% since November 21, which appears to be a 'bear market rally.' While demand has improved slightly, it remains weak."
A bear market rally refers to a rapid price recovery that occurs within an overall downtrend, but this recovery does not change the underlying bear market structure.
CryptoQuant points out that the current price action is very similar to what happened in 2022, when Bitcoin rebounded strongly after breaking below its 365-day moving average, only to encounter resistance near that level and then continue its decline. According to CryptoQuant, Bitcoin is now approaching its long-term moving average again, which is currently around $101,000. However, Bitcoin has not yet regained that level. CryptoQuant states that in past bear markets, Bitcoin has often fallen again if it fails to break above this level.
[ Etherealize co-founder: Ethereum price will reach $15,000 in 2027]
Etherealize co-founders Vivek Raman and Danny Ryan stated that Ethereum is winning the "institutional race" to modernize the global financial system. Looking ahead, both Ryan and Raman are bullish on Ethereum (ETH). Raman predicts that ETH's market capitalization will surge from hundreds of billions of dollars to trillions of dollars, potentially reaching $15,000 by the end of 2026.
The argument is based on three pillars: the stablecoin market has expanded fivefold, tokenized real-world assets have also grown fivefold, and ETH has become a “productive store of value” similar to Bitcoin. Vivek Raman stated, “Ethereum is the infrastructure of civilization, and despite its global utility, its $2 trillion market capitalization is still smaller than many large tech companies.”
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