Editor's Note: After a period of continuous decline and volatility, crypto stocks saw a general rebound last week, with BTC treasury companies like Strategy showing signs of recovery, although still far from their peaks. Meanwhile, key market factors are increasingly focused on the nomination of the new Federal Reserve Chairman, expectations of a Fed rate cut, and the progress of the US CLARITY crypto bill. Considering the overall market situation, crypto stocks are expected to remain under pressure. We recommend maintaining our previous "short-term rebound play" strategy and avoiding cross margin betting.
The following is a summary of last week's cryptocurrency and stock market information compiled by Odaily Odaily. All US stock data comes from msx.com .
A list of the main factors influencing crypto concept stocks
Trump's decision to drop Hassett has significantly reduced expectations for a Federal Reserve rate cut.
U.S. Treasury prices fell as Trump hinted at nominating someone other than National Economic Council Director Hassett to succeed Powell, with traders cutting their expectations for two U.S. rate cuts in 2026. The decline in U.S. Treasuries pushed the two-year yield up as much as 5 basis points to 3.61%, its highest level since the Fed's last rate cut in December. Short-term interest rate contracts reflected a decreased probability of two 25-basis-point rate cuts by the Fed this year after Trump's comments on Hassett. Meanwhile, the Treasury market continued to be troubled by the December jobs data released a week earlier, prompting Wall Street banks that had previously predicted a rate cut at the Fed's next meeting on January 28 to abandon that view. Morgan inflation economists predict that despite the change in Fed leadership, the Fed will not cut rates further. John Fath, managing partner of BTG Pactual Asset Management U.S., said, "The previous trade was betting that whoever becomes the next Fed chairman will be dovish. That has reversed in the last few days."
The crypto industry is divided on the market structure bill: a16z, Ripple, and others hold opposing views to Coinbase.
Coinbase CEO Brian Armstrong had previously indicated his intention to withdraw support for the Crypto Markets Structure Act (CLARITY), stating that he would "rather have no bill than a bad one." However, several major industry players hold opposing views. Kraken CEO Arjun Sethi stated that legacy issues should be resolved through negotiations rather than abandoning years of bipartisan cooperation. Chris Dixon, Managing Partner of a16z, Brad Garlinghouse, CEO of Ripple, and David Sacks, White House Special Advisor on AI and Cryptocurrency, expressed similar sentiments, urging all parties to resolve their differences by the end of the month. Seth Hertlein, Global Head of Policy at Ledger, pointed out that it's difficult to imagine a future environment as favorable as the current one. The industry generally feels that if legislation isn't completed now, it will either be impossible to achieve in the future or will proceed under very unfavorable conditions. The crypto industry does not want software availability or content distribution rights to change with each change of administration.
Furthermore, the NYSE's plan to open 24/7 trading for tokenized stocks and launch an on-chain settlement platform may impact crypto-related stocks, potentially leading to a price increase. For more details, please read "NYSE Plans 24/7 Tokenized Stock Trading, Competitors Stunned" and "NYSE Launches 24/7 Crypto-Stock Trading: Which Crypto Businesses Will Directly Benefit or Harm?"
Weekly Updates on Cryptocurrency Stock Companies
Representative listed companies of BTC Treasury
Vanguard's US mid-cap index fund makes its first purchase of Strategy shares.
Vanguard Group Mid-Cap Index Fund Institutional Shares (VMCIX), a US mid-cap index fund managed by Vanguard, disclosed its first purchase of Strategy shares. The fund reportedly bought 2.91 million shares, worth approximately $505 million.
In addition, Strategy announced that it will release its fourth quarter 2025 financial results on Thursday, February 5, 2026, after the close of the U.S. financial markets, and will hold an online meeting at 5:00 p.m. Eastern Time to discuss the results. The company currently holds 687,410 Bitcoins, with a market value of approximately $66.47 billion.
On January 16, Nasdaq-listed Bitcoin financial services company Strive announced the completion of its acquisition of Semler Scientific. The merged company now holds a total of 12,797.9 Bitcoins, becoming the 11th largest publicly traded company in the world in terms of Bitcoin holdings. Strive also announced the appointment of Avik Roy as Chief Strategy Officer, Eric Semler, former Chairman of Semler Scientific, as an independent director, and Joe Burnett, Director of Bitcoin Strategy, as Vice President of Bitcoin Strategy at Strive.
Steak 'n Shake, the American fast-food chain, announced this week that it has allocated $10 million to Bitcoin, officially adding BTC to the company's balance sheet. This move continues its crypto strategy of accepting Bitcoin payments at its stores across the United States over the past eight months.
The company stated that this decision is part of what it calls a “self-reinforcing cycle”: consumers using Bitcoin to pay drive sales growth, and the related revenue is then continuously reinvested into the company’s Bitcoin Reserve (SBR), thereby funding operational investments such as raw material upgrades and store renovations, without raising menu prices.
Steak'n Shake will accept Bitcoin payments at all its U.S. stores via the Lightning Network starting in May 2025, aiming to reduce credit card fees and attract a younger, crypto-savvy customer base. The company disclosed that same-store sales grew by more than 10% year-over-year in the second quarter of 2025, and customers who chose to pay with Bitcoin saw savings of approximately 50% on payment processing fees.
On January 16, DDC Enterprise Limited, a US-listed company, announced that it had completed its first Bitcoin purchase of 2026, acquiring an additional 200 BTC. Following the transaction, DDC's total Bitcoin holdings increased to 1383 BTC.
The announcement shows that DDC's current average Bitcoin holding cost is approximately $88,998, with a phased Bitcoin return of 16.9%, and each 1,000 DDC shares correspond to approximately 0.046482 BTC. The company stated that this increase in holdings continues its prudent and disciplined capital allocation strategy, and that it views Bitcoin as a strategic reserve asset commensurate with long-term value creation.
Representative companies of the ETH Treasury listed companies
BitMine has staked over 1.77 million ETH, with a total value of $5.65 billion.
According to OnchainLens monitoring, BitMine recently staked another 86,848 ETH, worth $279.4 million. Currently, its total staked ETH has reached 1,771,936 ETH, with a total value of $5.65 billion. Last week, BitMine purchased 24,068 ETH ($80.57 million) through FalconX.
On January 17th, Tom Lee, Chairman of Ethereum treasury company Bitmine, announced at a recent shareholder meeting that the company is about to launch an app, but no further details have been disclosed yet. However, judging from shareholder reactions, there seems to be dissatisfaction with this move, with many believing that investing heavily in an app is unnecessary. Furthermore, Tom Lee revealed that Bitmine no longer wants to act solely as a single Ethereum yield tool, but is considering positioning itself as a Berkshire Hathaway-style holding company in the digital economy, where Ethereum will serve as the foundational layer providing cash flow and capital allocation, thereby driving the next phase of growth.
In addition, on January 15, Beast Industries announced the completion of a $200 million funding round, led by BitMine . The company's main business is media and consumer holding, encompassing content production, consumer brands Feastables and MrBeast Burger, and business investments.
BitMine announced it has agreed to invest $200 million in Beast Industries, a media and consumer holding company founded by YouTube creator MrBeast. BitMine currently holds over 4 million ETH, worth approximately $13 billion, making it the world's largest Ethereum treasury holder. Beast Industries CEO Jeff Housenbold stated that the funds will support growth plans and explore integrating decentralized finance (DeFi) functionality into future financial services products. The transaction is expected to close around January 19th.
FG Nexus, a treasury firm holding $120 million in ETH, sold 2,500 ETH.
According to on-chain analyst Ember, Ethereum treasury company FG Nexus (fg-nexus) sold 2,500 ETH on January 20th, worth $8.04 million. FG Nexus held 50,770 ETH, worth $200 million, at an average price of $3,944 between August and September of last year. As the price of ETH fell, the company has since sold 13,475 ETH at a price of $3,089, realizing a loss of $11.52 million. Currently, FG Nexus still holds 37,594 ETH, worth $120 million. The company's mNAV is 0.84, meaning its market capitalization is lower than the value of its ETH holdings.
Representative companies of SOL Treasury listed companies
According to Globenewswire, Nasdaq-listed Solana treasury company Sharps Technology (STSS) announced a 90-day stock lock-up agreement with SOL Markets. Under the agreement, SOL Markets has agreed to restrict the sale of its advisory warrants and related shares for 90 days, effective January 16, 2026. Previously, Sharps Technology's board of directors approved a stock buyback program of up to $100 million and is currently developing a universal digital identity and authentication framework through strategic partnerships with Coinbase, Crypto.com, and Jupiter.
Forward Industries, a Nasdaq-listed Solana treasury company, released its financial results, disclosing that as of January 15, the company held a total of 6,979,967.46 SOL. Since the establishment of the Solana treasury, it has staked almost all of its SOL and received 133,450 SOL in staking rewards. Furthermore, Forward Industries disclosed that its SEC-registered shares were listed on the Solana blockchain in December of last year through Superstate's Opening Bell platform.
Solana's treasury company Upexi has reached a securities purchase agreement to raise $36 million.
Last week, Nasdaq-listed Solana treasury company Upexi announced a securities purchase agreement with Hivemind Capital Partners to raise $36 million. The note issuance is expected to close around January 14, 2026, subject to customary closing conditions. The notes are backed by locked SOL tokens and will be incorporated into the company's Solana treasury upon completion of the transaction. The transaction is expected to increase Upexi's SOL holdings by 12% to over 2.4 million SOL, making it the second-largest corporate SOL holder after Forward Industries, which holds 6.9 million SOL.
Representative companies of Altcoin treasury listed companies
On January 16, Nasdaq-listed AlphaTON Capital, a TON treasury firm, announced a $15 million offering of 15,000,000 common shares at $1 each. HC Wainwright & Co. acted as the sole placement agent for the offering. The company stated that it plans to use the net proceeds to expand Cocoon AI’s GPU deployment, replenish working capital, and for general corporate purposes.
