Eric Trump said USD1, the stablecoin&nbsp;issued by World Liberty Financial, has grown larger than PayPal Holdings Inc. <a class="ticker-link" data-ticker="PYPL" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/PYPL" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PYPL">PYPL</a>)</a>&#8216;s PYUSD stablecoin. He described the development as a &#8220;major milestone&#8221; in an X post.



He stated, &#8220;The shift is happening.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">A major milestone for USD1. We are now larger than PayPal's digital dollar (PYUSD) and growing into one of the most significant digital dollar platforms in the world. This isn't just about crypto. It's about building the future of global money. The shift is happening.… <a href="https://t.co/j26JlP5kKU">pic.twitter.com/j26JlP5kKU</a>&mdash; Eric Trump (@EricTrump) <a href="https://twitter.com/EricTrump/status/2014726873146691877?ref_src=twsrc%5Etfw">January 23, 2026</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



On Friday, Binance, the world&#8217;s largest cryptocurrency exchange, announced a $40 million WLFI token airdrop for USD1 holders, running from Friday to Feb. 20. Weekly distributions will reward users holding USD1 in Spot, Funding, Margin, or Futures accounts, with a 1.2× bonus for collateralized holdings.



<h2 class="wp-block-heading">Trump Family Holdings in World Liberty</h2>



World Liberty Financial, a Wilmington-based decentralized finance (DeFi) platform, is heavily backed by the Trump family. A Trump business entity owns 60% of World Liberty and is entitled to 75% of all revenue from coin sales.



The company, which was co-founded by Eric, <a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/49773888/eric-trump-posts-bald-eagle-emoji-after-world-liberty-financial-applies-for-national-trust-bank-charter">applied</a> for a national trust bank charter earlier this month.



<h2 class="wp-block-heading">Criticism of Traditional Banking System</h2>



President Donald Trump&#8216;s son is also the co-founder of American Bitcoin Corp. <a class="ticker-link" data-ticker="ABTC" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/ABTC" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ABTC">ABTC</a>)</a> and has recently criticized banks, stating that &#8220;big banks&#8221; are doing &#8220;<a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/50088367/eric-trump-says-big-banks-doing-everything-they-can-to-stop-crypto-legislation-for-obvious-reasons-the-entire-financial-system-is-changing">everything they can to stop</a>&#8221; crypto legislation, adding that the financial system is changing.



<h2 class="wp-block-heading">Senators Call for Probe Over Alleged Foreign Ties</h2>



In November, Senators Elizabeth Warren (D-Mass.) and Jack Reed (D-R.I.) called for a probe into World Liberty Financial, alleging it sold tokens to businesses linked to North Korea and Russia, creating national security risks. Eric Trump dismissed the claims, calling them &#8216;<a href="https://youtu.be/UuYH22XVYL8?si=_lNM68AUnyI4O2Q1">absolutely laughable</a>&#8216; and saying the company knows every token buyer.



Friday close data:



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Metric</th><th>USD1</th><th>PYUSD</th></tr></thead><tbody><tr><td>Closing Price</td><td>$0.9999</td><td>$0.9994</td></tr><tr><td>24h Trading Volume</td><td>$6.23 billion</td><td>$188.38 million</td></tr><tr><td>Market Cap</td><td>$4.4 billion</td><td>$3.75 billion</td></tr></tbody></table></figure>



Photo courtesy: Maxim Elramsisy / Shutterstock.com



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Eric Trump Says Trump Family-Linked World Liberty Financial's Stablecoin USD1 Has Eclipsed PayPal's Digital Dollar: 'The Shift Is Happening'

Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> continues to trade around $90,000 as cryptocurrencies remain at key levels.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Bitcoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$89,740</td></tr><tr><td>Ethereum</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$2,948</td></tr><tr><td>Solana</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$127.76</td></tr><tr><td>XRP</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$1.93</td></tr><tr><td>Dogecoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1245</td></tr><tr><td>Shiba Inu</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.058021</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>Coinglass data shows 102,360 traders were liquidated in the past 24 hours for $303.35 million.       </li>



<li>In the past 24 hours, top gainers include LayerZero, Axie Infinity and DoubleZero.</li>
</ul>



Notable Developments:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/50096078/crypto-market-structure-bill-eyes-crucial-tuesday-debate">Crypto Market Structure Bill Eyes Crucial Tuesday Debate</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/50096212/ubs-reportedly-planing-bitcoin-ethereum-trading-for-wealthy-clients">UBS Reportedly Planing Bitcoin, Ethereum Trading For Wealthy Clients</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/50105828/grayscale-seeks-bnb-spot-etf-approval-can-it-trigger-a-breakout">Grayscale Seeks BNB Spot ETF Approval—Can It Trigger A Breakout?</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/50102449/ledger-plans-4-billion-ipo-after-bitgo-debut-kraken-and-consensys-next-in-line">Ledger Plans $4 Billion IPO After BitGo Debut—Kraken And ConsenSys Next In Line</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/50094023/sec-cftc-announce-rare-joint-event-next-tuesday-to-advance-trumps-crypto-capital-agenda">SEC, CFTC Announce Rare Joint Event Next Tuesday To Advance Trump&#8217;s &#8216;Crypto Capital&#8217; Agenda</a></li>
</ul>



Trader Notes: Analyst Kevin <a href="https://x.com/kev_capital_ta/status/2014758584870191113?s=46">said</a> Bitcoin continues to struggle with key technical hurdles, including the rising channel, the golden pocket, and major four-hour moving averages. 



He noted that a sustained move above $91,800 is needed to restore short-term bullish momentum, while higher timeframes still show heavy resistance between $95,700 and $106,800.



CryptosBatman <a href="https://x.com/cryptosbatman/status/2014678375437390238?s=46">pointed</a> to sustained ETF net outflows as a major factor behind Bitcoin's recent weakness. 



Over the past three months, major spot ETFs have sold approximately $6.1 billion worth of BTC, adding notable sell pressure.



However, with ETFs still holding around $117 billion in total assets under management, he described the move as de-risking rather than a structural exit.



Altcoin Sherpa <a href="https://x.com/AltcoinSherpa/status/2014772412982689896">said</a> the current consolidation differs from August 2024 and March 2025 in that the 100-day and 200-day exponential moving averages remain elevated. 



This suggests the market may need more time to reset, potentially resembling the 2025 pattern of extended consolidation, base formation, and a possible spring rally once structure fully resets.



Image: Shutterstock

Bitcoin Sticks To $90,000 As Ethereum, XRP, Dogecoin Hug Key Levels

Interactive Brokers Group Inc. <a class="ticker-link" data-ticker="IBKR" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/IBKR" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/IBKR">IBKR</a>)</a> and Robinhood Markets Inc. <a class="ticker-link" data-ticker="HOOD" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/HOOD" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOOD">HOOD</a>)</a> are making opposite bets on the $63 billion prediction market boom—one on utilities and the other on sports.



<h3 class="wp-block-heading">Peterffy: &#8220;We Don&#8217;t Rely On Sports&#8221;</h3>



During Monday&#8217;s Q4 earnings call, Peterffy made clear that IBKR isn&#8217;t chasing sports betting. The company is <a href="https://investors.interactivebrokers.com/en/general/about/quarterly-earnings.php">targeting</a> temperature contracts that utilities can use to hedge electricity demand.



&#8220;Interactive Brokers does not rely on sports,&#8221; Peterffy said, adding that institutional clients like utilities will start onboarding &#8220;sometime in the course of the year.&#8221;



IBKR&#8217;s ForecastEx exchange traded 286 million contract pairs in Q4—up from just 15 million in Q3. The platform now lists over 10,000 instruments.



That approach sidesteps the regulatory chaos hitting sports-focused platforms entirely.



<h3 class="wp-block-heading">The Regulatory Problem: Massachusetts Just Ruled Against Sports</h3>



A Massachusetts court ruled earlier this month that Kalshi&#8217;s sports contracts are illegal gambling, not regulated derivatives.&nbsp;



Kalshi is the CFTC-regulated exchange that powers prediction markets for both Robinhood and Webull Corp. <a href="https://www.benzinga.com/quote/BULL" target="_blank" class="ticker-link" data-ticker="BULL" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/BULL">BULL</a>)</a>.



The ruling forced Kalshi to block Massachusetts residents from trading sports contracts.



Tennessee, Connecticut, and New York have issued similar orders, arguing platforms need gaming licenses to offer sports betting—even if the CFTC approved the products.



That creates a problem: if more states follow Massachusetts, platforms built around sports contracts lose access to huge markets. Robinhood bet heavily on sports, which means it&#8217;s directly exposed to this regulatory risk.



<h3 class="wp-block-heading">Robinhood Doubles Down On Sports</h3>



Robinhood&#8217;s strategy is the opposite. The company launched prediction markets in March 2025 and has already processed over 11 billion contracts, generating approximately $100 million in annualized revenue.



During the Q3 earnings call in November, CEO Vlad Tenev said volume hit 2.3 billion contracts in Q3, with October alone reaching 2.5 billion contracts—bigger than the entire quarter. 



Much of that volume comes from NFL games, NBA matchups, and college football.



Tenev called prediction markets potentially &#8220;one of the largest asset classes&#8221; and said the company stands at &#8220;the very beginning of a prediction market supercycle.&#8221;



The problem is Robinhood relies on Kalshi to power its prediction markets.&nbsp;



That means Robinhood faces the same state-level regulatory challenges that just hit Kalshi in Massachusetts—the exact risk IBKR is avoiding by skipping sports entirely.



<h3 class="wp-block-heading">SoFi Sits On The Sidelines</h3>



SoFi Technologies Inc. <a href="https://www.benzinga.com/quote/SOFI" target="_blank" class="ticker-link" data-ticker="SOFI" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SOFI">SOFI</a>)</a> reports Q4 results January 30 and hasn&#8217;t entered prediction markets.&nbsp;



The company&#8217;s bank charter imposes regulatory constraints that pure brokerages don&#8217;t face.



With competitors generating $100+ million in annualized prediction markets revenue, analysts will likely ask CEO Anthony Noto whether the absence is a strategy or missed opportunity.



<h3 class="wp-block-heading">What Happens Next: Earnings Will Tell The Story</h3>



Three key earnings reports will show which strategy is working:



<ul class="wp-block-list">
<li>SoFi (SOFI) reports January 30—traders will watch whether Noto addresses the decision to skip prediction markets while competitors rake in revenue.</li>



<li>Robinhood (HOOD) reports February 10—Q4 volume will reveal if the Massachusetts ruling is scaring users away or if growth is continuing despite regulatory pressure.</li>



<li>Webull (BULL) reports around February 23—the company faces similar sports contract exposure as Robinhood.</li>
</ul>



Prediction markets hit $63.5 billion in volume last year—up 302% from 2024. The category is real. The question is whether sports-focused platforms can survive state regulators, or if IBKR&#8217;s utility-focused approach is the only path forward.



Image: Shutterstock

HOOD Bets Sports, IBKR Bets Utilities—How Fintechs Are Fighting Over Prediction Markets

Precious metals continued to dominate Wall Street headlines on Friday as silver surged through the $100-per-ounce threshold and traded around $101 per ounce by midday in New York, marking a staggering 230% gain <a href="https://www.benzinga.com/markets/commodities/26/01/50100930/silver-price-hits-100">over the past year.</a>



Gold flirted with the equally eye-catching $5,000-per-ounce level, a price that stood nearly 80 percentage points lower <a href="https://www.benzinga.com/markets/commodities/26/01/50067359/goldman-sachs-gold-price-forecasts-private-sector-demand-central-bank">just a year earlier.</a>



The rally extended beyond gold and silver. Across the broader commodities complex, momentum remained strong. 



Palladium jumped 6%, breaking above $2,000 per ounce for the first time since November 2022, while platinum surged 5% to fresh all-time highs above $2,700 per ounce. Copper climbed 3% to $6 per pound.



Energy prices also pushed higher. Henry Hub natural gas rose another 2% to $5.15 per million British thermal units, lifting week-to-date gains to more than 60% and marking the strongest weekly surge on record amid the extreme cold wave hitting America. Crude prices advanced as well, with WTI rising more than 2% to near $61 a barrel.



On Wall Street, stocks paused after two days of robust gains. By 1:00 p.m. in New York, the S&amp;P 500 traded broadly flat, while the Nasdaq 100 rose 0.5%. Small caps lagged, with the Russell 2000 falling 0.6%.



The energy sector led the market for a second straight session, reaching levels last seen in 2014, while financials underperformed.



In earnings, Intel Corp. <a href="https://www.benzinga.com/quote/INTC" target="_blank" class="ticker-link" data-ticker="INTC" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/INTC">INTC</a>)</a> emerged as the day's biggest mover, plunging more than 17% in its worst session since August 2024 after the chipmaker issued weak first-quarter 2026 guidance.



In crypto markets, Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> rose 1.9% to $90,600.



<h2 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h2>



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day % </td></tr><tr><td>• Nasdaq 100</td><td>25,646.73</td><td>0.5%</td></tr><tr><td>• S&amp;P 500</td><td>6,916.19</td><td>0.0%</td></tr><tr><td>• Dow Jones</td><td>49,041.20</td><td>-0.7%</td></tr><tr><td>• Russell 2000</td><td>2,672.70</td><td>-1.7%</td></tr></tbody></table></figure>



According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent012326&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 



<ul class="wp-block-list">
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IWM">IWM</a>) fell 1.71% to $265.18. </li>



<li>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DIA">DIA</a>) declined 0.7% to $490.09.</li>



<li>The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QQQ">QQQ</a>) rose 0.4% to $623.12.</li>



<li>The Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VOO">VOO</a>) traded flat at $633.53.</li>



<li>The&nbsp;Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLE">XLE</a>) outperformed, up 1%; the&nbsp;Financials&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLF">XLF</a>) lagged, down 1.6%.</li>
</ul>



<h2 class="wp-block-heading">Russell 1000&#8217;s Top Gainers On Friday</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Stock</th><th>% Change</th></tr></thead><tbody><tr><td>Corcept Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/CORT">CORT</a>)</td><td>+6.71%</td></tr><tr><td>Booz Allen Hamilton Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BAH">BAH</a>)</td><td>+6.40%</td></tr><tr><td>Alaska Air Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ALK">ALK</a>)</td><td>+6.20%</td></tr><tr><td>Rocket Lab Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/RKLB">RKLB</a>)</td><td>+6.02%</td></tr><tr><td>Fortinet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/FTNT">FTNT</a>)</td><td>+5.44%</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">Russell 1000&#8217;s Top Losers On Friday</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Stock</th><th>% Change</th></tr></thead><tbody><tr><td>Intel Corp. </td><td>-16.91%</td></tr><tr><td>First Citizens BancShares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/FCNCA">FCNCA</a>)</td><td>-8.88%</td></tr><tr><td>Capital One Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/COF">COF</a>)</td><td>-6.99%</td></tr><tr><td>Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MRNA">MRNA</a>)</td><td>-6.58%</td></tr><tr><td>Sandisk Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SNDK">SNDK</a>)</td><td>-6.14%</td></tr></tbody></table></figure>



Photo: Shutterstock

Silver Breaks $101, Intel Stock Plunges 17%: What's Moving Markets Friday?

<h3 class="wp-block-heading">Threads momentum, robots mature, crypto consolidates</h3>



META <a href="https://www.benzinga.com/quote/META" target="_blank" class="ticker-link" data-ticker="META" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/META">META</a>)</a> jumped roughly 5% as management highlighted early progress monetizing Threads. The market reaction was less about near-term revenue and more about optionality. Threads is being positioned as another scalable ad surface layered onto Meta's existing data and targeting engine. Importantly, this follows a familiar playbook: build engagement first, then monetize efficiently.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Here is Why META is Up 5% &#x7C; The Solid Report" width="500" height="281" src="https://www.youtube.com/embed/sI9Bn0T5nRI?start=1&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div><figcaption class="wp-element-caption">What stood out is that this is incremental growth, not a cost-heavy pivot. Meta does not need Threads to be a standalone business; it just needs it to extend time spent and advertiser reach. That framing is why the stock reacted positively.</figcaption></figure>



<h3 class="wp-block-heading">Elon Musk on Robots and the Long Game</h3>



<a class="ticker-link" data-ticker="TSLA" data-exchange="NYSE" href="https://www.benzinga.com/quote/TSLA" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>)</a> CEO Elon Musk reiterated that robotics remains a long-term strategic priority rather than an immediate revenue driver. The focus was on autonomy, learning systems, and real-world deployment, not aggressive timelines or commercialization promises. This tempers expectations while keeping the vision intact.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> CEO Elon Musk says they will start selling humanoid robots THIS YEAR. We are adding a new fleet of devices that will require A LOT of compute to function on a local and remote scale. Think about it. More GPUs <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> <a href="https://twitter.com/search?q=%24AMD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AMD</a> More memory <a href="https://twitter.com/search?q=%24MU&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MU</a> <a href="https://twitter.com/search?q=%24SNDK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SNDK</a> More fabrication and… <a href="https://t.co/uBZKpq6lLF">pic.twitter.com/uBZKpq6lLF</a>&mdash; Sam Badawi (@samsolid57) <a href="https://twitter.com/samsolid57/status/2014380667665318038?ref_src=twsrc%5Etfw">January 22, 2026</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The key takeaway is that robots are an efficiency and productivity story before they are a product story. As with autonomy, progress will be uneven, but the advantage accrues to platforms that can integrate hardware, software, and data at scale.



<h3 class="wp-block-heading">Bitcoin Remains in a Downtrend</h3>



Bitcoin <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> continues to trade in a clear downtrend despite intermittent relief rallies. The discussion emphasized structure over sentiment, lower highs and weak follow-through still define price action. Risk appetite has not returned in a sustained way.



<figure class="wp-block-image"><img decoding="async" src="https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,quality=80,format=auto,onerror=redirect/uploads/asset/file/6109c00f-a50e-4d62-b500-01390ab72e3b/image.png" alt=""/></figure>



This does not invalidate the long-term thesis for crypto, but it does reinforce the need for patience. Until liquidity improves or macro pressure eases, Bitcoin is behaving like a risk asset still searching for a durable bottom.



Thanks for reading! For more updates throughout the week, follow <a href="https://x.com/WOLF_Financial?utm_campaign=meta-finds-its-next-monetization-lever&amp;utm_medium=referral&amp;utm_source=marketmadness-newsletter.beehiiv.com" target="_blank" rel="noreferrer noopener">@WOLF_Financial</a>



Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content or accuracy.

Meta Finds Its Next Monetization Lever

Bitcoin <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> spot exchange traded funds were approved with the promise of unlocking institutional capital and reshaping crypto market structure. Since launch, flows into and out of these products have become one of the most closely watched data points in digital asset markets. Yet price action has not always moved in lockstep with ETF demand, leaving traders divided over what these flows actually signal.



The divergence between Bitcoin ETF flows and spot price behavior is not noise. It reflects how institutions deploy capital, manage risk, and express conviction in an asset that still behaves very differently from traditional equities or bonds.



Understanding this dynamic matters for traders who want to position ahead of larger moves rather than react to headlines.



<h2 class="wp-block-heading">Why Bitcoin ETF Flows Matter More Than Headlines</h2>



ETF flows represent one of the cleanest windows into institutional behavior. Unlike on-chain wallet activity, which can be obscured by intermediaries, ETF inflows and outflows are reported daily and reflect deliberate allocation decisions by asset managers, hedge funds, and financial advisors.



When capital moves into a spot Bitcoin ETF, the issuer must acquire Bitcoin to back new shares. That creates direct demand in the underlying market. Outflows, on the other hand, often force selling or at least reduce marginal buying pressure.



However, flows alone do not dictate short term price direction. They reflect intent, not urgency. Institutions often accumulate during periods of consolidation and reduce exposure into strength, which can cause price and flow data to diverge for extended periods.



<h2 class="wp-block-heading">Why Price Does Not Always Follow Inflows</h2>



One of the most common misconceptions among retail traders is that sustained ETF inflows should automatically push Bitcoin higher. In reality, several factors can mute or delay the price impact.



First, Bitcoin trades globally, twenty four hours a day. ETF demand is only one slice of total market activity. Offshore derivatives, perpetual futures, and spot exchanges still account for significant volume. If leverage is being reduced or large holders are distributing coins, ETF inflows may simply absorb supply rather than drive price expansion.



Second, institutions often scale in gradually. A pension fund or registered investment advisor allocating to Bitcoin for the first time is unlikely to deploy capital aggressively in a single session. Flows may be steady but small relative to overall market liquidity, especially during high volume periods.



Third, macro conditions matter. Rising real yields, equity volatility, or shifts in dollar liquidity can cap upside even when crypto specific demand remains strong. In those environments, Bitcoin ETFs can see inflows while price churns sideways.



<h2 class="wp-block-heading">What Persistent Inflows Actually Signal</h2>



Sustained inflows over multiple weeks tend to signal strategic allocation rather than tactical trading. This is particularly important for longer term investors.



Persistent inflows suggest institutions view Bitcoin less as a short term trade and more as a portfolio component. That mindset change reduces downside risk over time because capital is less likely to exit abruptly on modest drawdowns.



It also changes who owns the marginal coin. When Bitcoin moves from speculative traders into asset managers with longer time horizons, supply dynamics tighten. Coins held in custodial ETF structures are typically not rehypothecated or actively traded, which can reduce circulating supply during demand surges.



For traders, this environment favors pullback buying rather than chasing breakouts. Periods of consolidation accompanied by continued ETF inflows often precede stronger directional moves once macro or liquidity conditions improve.



<h2 class="wp-block-heading">What Outflows Should and Should Not Be Feared</h2>



ETF outflows tend to generate more anxiety than inflows generate optimism. This is partly psychological and partly structural.



Short term outflows do not automatically imply institutional abandonment. They can reflect rebalancing, tax considerations, or hedging activity rather than outright bearish positioning. In some cases, outflows coincide with price strength as investors take profits into rallies.



More concerning signals emerge when outflows persist alongside weakening price structure and declining derivatives open interest. That combination suggests conviction is fading and capital is rotating elsewhere.



The key is duration and context. One or two days of outflows are noise. Multiple weeks of consistent redemptions during a broader risk off environment deserve attention.



<h2 class="wp-block-heading">ETF Flows Versus Derivatives Positioning</h2>



One of the most effective ways to interpret ETF data is to pair it with derivatives metrics.



When ETF inflows rise while futures funding rates remain neutral or slightly negative, it often indicates spot driven accumulation rather than leveraged speculation. That is typically a healthier setup for sustainable upside.



Conversely, when inflows coincide with aggressive long positioning and elevated funding rates, upside can become crowded. In those cases, price may stall even as ETF demand remains strong.



Institutions often use futures and options to hedge ETF exposure, which can distort simple price flow relationships. Traders who ignore derivatives positioning risk misreading the signal.



<h2 class="wp-block-heading">What This Means for Traders Right Now</h2>



The most actionable takeaway is that ETF flows are a medium term signal, not a day trading tool.



Strong inflows during price consolidation suggest accumulation zones rather than immediate breakout opportunities. Weak or negative flows during parabolic price action often signal distribution rather than trend continuation.



For swing traders, aligning with the direction of sustained flows while timing entries around technical support and resistance tends to offer better risk reward than reacting to daily flow prints.



For longer term investors, persistent inflows reinforce the thesis that Bitcoin is becoming institutionalized, even if price action remains choppy in the short term.



<h2 class="wp-block-heading">The Bigger Picture for Bitcoin Market Structure</h2>



Bitcoin ETFs have not eliminated volatility. What they have done is change who participates and how capital enters the market.



Institutional conviction expresses itself slowly, methodically, and often invisibly. ETF flows are one of the few data points that make that behavior observable.



Traders who learn to interpret flows in context rather than isolation gain an edge. They stop asking why price is not moving and start asking who is accumulating, who is hedging, and who is exiting.



In a market increasingly shaped by professional capital, those questions matter more than any single headline.



Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content or accuracy.

Bitcoin ETF Flows Vs. Price Action Divergence: How Traders Can Capitalize

Grayscale has filed for a spot Binance Coin <a class="ticker-link" data-ticker="BNB" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BNB-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>)</a> ETF on Thursday as BNB is trapped in a three-month symmetrical triangle after crashing 36% from December&#8217;s $1,363 peak.



<h3 class="wp-block-heading">Grayscale&#8217;s BNB ETF Details</h3>



The fund will trade on Nasdaq under <a href="https://www.sec.gov/Archives/edgar/data/2106762/000119312526020367/gbnb-20260123.htm">ticker</a> GBNB and will hold actual BNB tokens to track the price of Binance Coin.



Coinbase Global Inc. <a href="https://www.benzinga.com/quote/COIN" target="_blank" class="ticker-link" data-ticker="COIN" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/COIN">COIN</a>)</a> will handle trading and custody for the ETF, similar to how it operates for Bitcoin <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> and Ethereum <a href="https://www.benzinga.com/quote/ETH-USD" target="_blank" class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a> spot ETFs already on the market.



Grayscale plans to let large investors create and redeem shares directly using BNB tokens rather than cash.&nbsp;



The fund will also offer staking, allowing investors to earn yield on their BNB holdings—a feature not available in most existing crypto ETFs.



The filing doesn&#8217;t disclose management fees or seed capital yet. Grayscale registered the trust in Delaware two weeks ago, signaling it was preparing to file.



<h3 class="wp-block-heading">The Competition: VanEck And REX Already Filed</h3>



Grayscale joins VanEck, which filed for a BNB ETF in the first half of 2025 and has already submitted amendments to its fund.&nbsp;



VanEck could launch before Grayscale&#8217;s product given its head start.



REX Osprey has also filed for a Binance Coin ETF under the &#8217;40 Act, expanding the field of potential BNB spot ETF issuers competing for SEC approval.



The race mirrors the Bitcoin and Ethereum ETF launches, where multiple issuers competed for first-to-market advantage.&nbsp;



First movers typically capture the largest inflows, making timing critical for asset managers.



<h3 class="wp-block-heading">BNB Technical Setup: Triangle Apex Breakout Imminent</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="700" src="https://editorial-assets.benzinga.com/wp-content/uploads/2026/01/23121443/image-459-1024x700.png" alt="" class="wp-image-1273395" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2026/01/23121443/image-459-1024x700.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2026/01/23121443/image-459-300x205.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2026/01/23121443/image-459-768x525.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2026/01/23121443/image-459.png 1316w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



BNB is up 1%, at the apex of a massive symmetrical triangle that&#8217;s been compressing price for over three months since the December peak of $1,363.



The token crashed 36% from that high to a January low of $825, then spent weeks coiling between converging trendlines.&nbsp;



That setup typically resolves with an explosive move in either direction—the question is which way it breaks.



BNB is trading just above the critical 200 EMA at $883.7, which has provided support throughout January.&nbsp;



However, price remains below all shorter-term EMAs: 20-day at $903.9, 50-day at $901.4, and 100-day at $910.7—all clustered tightly in the $900-915 zone, creating a resistance ceiling.



Additionally, the Supertrend indicator at $873.1 sits below as support.



<h3 class="wp-block-heading">Key Levels To Watch</h3>



<ul class="wp-block-list">
<li>Upside: Breaking above $915 would escape the triangle&#8217;s upper boundary and target $950-1,000. Clearing $1,050-1,100 would represent a significant reversal and confirm the ETF filing is driving buying pressure.</li>



<li>Downside: The $883.7 200 EMA is critical support. Loss of $873.1 (Supertrend) breaks structure and targets $850-825. Breaking $800 ascending support opens a catastrophic decline to $750-780.</li>
</ul>



Image: Shutterstock

Grayscale Seeks BNB Spot ETF Approval—Can It Trigger A Breakout?

Silver crossed the psychological $100 per ounce Friday, driven by solar panel demand and a historic supply squeeze, while Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> has crashed 30% from its $126,000 peak to $89,000.



<h3 class="wp-block-heading">The Numbers: Silver Added $2.83 Trillion</h3>



Silver closed October 31, 2025 at $48.68 per ounce. By Friday afternoon, it had crossed $100—a 104% surge in three months.



The total above-ground silver supply is estimated at approximately 56 billion ounces, including bullion, coins, jewelry, and industrial products.&nbsp;



At October&#8217;s price, silver&#8217;s total market value stood at roughly $2.73 trillion.&nbsp;



At today&#8217;s $99 price, that valuation has exploded to approximately $5.56 trillion—an increase of $2.83 trillion in three months.



That&#8217;s 1.5 times Bitcoin&#8217;s entire $1.84 trillion market cap added to silver&#8217;s value in 90 days.



Meanwhile, Bitcoin tumbled from above $126,000 in October to roughly $89,000 today. 



The cryptocurrency&#8217;s market cap fell from over $2.4 trillion to $1.84 trillion, shedding more than $600 billion in value.



<h3 class="wp-block-heading">What&#8217;s Driving The Silver Rally</h3>



The silver rally is driven by an industrial necessity colliding with a supply crunch.



Solar panels now account for 29% of industrial silver demand, up from just 11% in 2014, according to the Silver Institute&#8217;s World Silver Survey 2025.&nbsp;



Each solar panel requires 15-25 grams of silver, and global solar capacity is forecast to hit 665 gigawatts in 2026.



Moreover, electric vehicles use 25-50 grams of silver versus 15-28 grams in conventional cars.&nbsp;



That demand isn&#8217;t going away—it&#8217;s accelerating as the green energy transition shifts from future trend to current reality.



The supply side is even tighter. The Silver Institute reports 2024 marked the fourth consecutive year of supply deficits:



<ul class="wp-block-list">
<li>Mine production: 819.7 million ounces</li>



<li>Total demand: 1.16 billion ounces</li>



<li>Industrial demand: 680.5 million ounces (record high)</li>
</ul>



The deficit is structural. Over 70% of silver is produced as a byproduct of mining lead, zinc, and copper—meaning production can&#8217;t simply ramp up when prices spike.



Research from Ghent University and Engie Laborelec projects that by 2030, global silver demand could hit 48,000-52,000 metric tons annually while supply reaches only 34,000 metric tons.&nbsp;



The solar industry alone could consume 29-41% of projected global supply by decade&#8217;s end.



<h3 class="wp-block-heading">What Happens Next</h3>



Silver is approaching the psychological $100-per-ounce threshold. The question is no longer whether it can break through—but whether $100 becomes a new floor rather than a ceiling.



The fundamental case remains intact. Supply deficits show no signs of abating, industrial demand is accelerating, and geopolitical tensions continue driving safe-haven flows into physical assets.



Silver has officially shed its reputation as the &#8220;boring&#8221; precious metal.&nbsp;



For traders, the lesson is clear: sometimes the most disruptive technology is the one we&#8217;ve been mining for 5,000 years.



Image: Shutterstock

How Silver Cracked $100 And Added More Than Bitcoin's Entire Market Cap In 3 Months

Ledger, the French crypto hardware wallet maker, is preparing a New York Stock Exchange IPO targeting a $4 billion valuation—nearly triple its 2023 price tag.



<h3 class="wp-block-heading">Ledger&#8217;s IPO Timeline And Bankers</h3>



Ledger is <a href="https://x.com/degeneratenews/status/2014679669736386644?s=46">working</a> with Goldman Sachs <a href="https://www.benzinga.com/quote/GS" target="_blank" class="ticker-link" data-ticker="GS" data-exchange="NYSE" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GS">GS</a>)</a>, Jefferies, and Barclays (LSE: BARC) to facilitate an IPO as soon as this year, according to the Financial Times.



The company, founded in 2014, generates hundreds of millions in revenue as crypto hacks hit all-time highs.&nbsp;



CEO Pascal Gauthier mentioned a possible IPO in November, noting that rising security breaches are driving demand for hardware wallets.



The timing is strategic. BitGo <a href="https://www.benzinga.com/quote/BTGO" target="_blank" class="ticker-link" data-ticker="BTGO" data-exchange="NYSE" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BTGO">BTGO</a>)</a> went public on the NYSE Thursday, pricing shares at $18 and closing up 2.7% for a valuation above $2 billion.&nbsp;



BitGo's IPO raised $212.8 million and was multiple times oversubscribed. The demand highlights strong institutional appetite for crypto infrastructure.



That successful debut is fueling momentum for other crypto firms eyeing listings.



<h3 class="wp-block-heading">The IPO Pipeline Is Stacked</h3>



Ledger joins a packed queue of crypto firms eyeing public listings in 2026:



Kraken <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48956185/kraken-confidentially-files-for-ipo-targets-20-billion-valuation">filed</a> confidentially with the SEC in November 2025 and is targeting a $20 billion valuation for a first-half 2026 debut.



ConsenSys, the crypto infrastructure giant <a href="https://www.coindesk.com/markets/2025/10/29/consensys-plans-public-debut-taps-jpmorgan-and-goldman-sachs-to-lead-ipo-axios">behind</a> MetaMask, is working with JPMorgan <a href="https://www.benzinga.com/quote/JPM" target="_blank" class="ticker-link" data-ticker="JPM" data-exchange="NYSE" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/JPM">JPM</a>)</a> and Goldman Sachs on a mid-2026 IPO with an estimated $7 billion valuation.



Animoca Brands, the Web3 gaming company, plans to list on Nasdaq through a reverse merger at an estimated $6 billion valuation.



Additionally, Bithumb, South Korea&#8217;s major crypto exchange, is targeting a listing on the Korea Exchange in 2026.



<h3 class="wp-block-heading">How 2025 IPOs Performed</h3>



The 2025 crypto IPO wave delivered mixed results.&nbsp;



At least 11 crypto companies went public globally in 2025, raising about $14.6 billion.



That marked a sharp jump from 2024, when just four listings raised roughly $310 million.



Circle <a href="https://www.benzinga.com/quote/CRCL" target="_blank" class="ticker-link" data-ticker="CRCL" data-exchange="NYSE" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/CRCL">CRCL</a>)</a> <a href="https://www.benzinga.com/crypto/cryptocurrency/25/10/48524756/circle-galaxy-are-the-only-crypto-ipos-in-profit-as-etoro-sinks-40-since-debut">delivered</a> the most dramatic debut, surging 168% on its first day after pricing at $31 per share in June 2025.&nbsp;



The stock peaked at $298.99 but has since crashed to around $85—a 71.6% drop from the all-time high, though still 174% above the IPO price.



Gemini <a href="https://www.benzinga.com/quote/GEMI" target="_blank" class="ticker-link" data-ticker="GEMI" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GEMI">GEMI</a>)</a> opened at $37.01, up 32% from its $28 IPO price in September 2025, but now trades around $11—61% below the IPO price, after posting a $283 million loss in the first half of 2025.



<h3 class="wp-block-heading">What&#8217;s Driving The Wave</h3>



Improving regulatory clarity under the Trump administration is reinforcing confidence in crypto infrastructure firms.&nbsp;



Progress on stablecoin legislation like the GENIUS Act and the SEC-CFTC coordination efforts are removing major regulatory overhangs.



Crypto venture funding surged to $19.7 billion in 2025.



More than 265 M&amp;A deals worth $8.6 billion were completed, nearly four times 2024 levels.



<h3 class="wp-block-heading">The Risk: Recent IPOs Are Down Big</h3>



Despite strong initial demand, several 2025 crypto IPOs have underperformed due to Bitcoin <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> price volatility.&nbsp;



The October 2025 market crash liquidated over $19 billion in crypto leverage in a single day, hitting publicly traded crypto stocks hard.



Moreover, Ledger also faces reputational challenges.&nbsp;



The company grappled with a breach involving third-party payment processor Global-e two weeks ago that exposed customer personal details.&nbsp;



In 2020, a data breach exposed 270,000 customers&#8217; data, and in 2023, Ledger lost nearly $500,000 to a hack.



Image: Shutterstock

Ledger Plans $4 Billion IPO After BitGo Debut—Kraken And ConsenSys Next In Line

Bitcoin <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> remains stuck around $90,000 level, despite global equity markets and commodities continuing their multi-month rally.



<h2 class="wp-block-heading">Historical Correlation Broken</h2>



The crypto market is exhibiting an extreme divergence from broader equities, most notably in Ethereum's <a class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/ETH-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a> failure to track the Russell 2000 despite a long history of close correlation, prominent analyst Kevin <a href="https://x.com/Kev_Capital_TA/status/2014414045076508878">noted.</a>



Historically, the two have moved together roughly 90% of the time, particularly during risk-on environments. 



A prolonged decoupling of this magnitude, especially while the Russell 2000 is in price discovery, has not been observed before.



The divergence suggests either a lagged response from crypto markets or lingering structural damage following the Oct. 10 dislocation.



While mid- and small-cap equities are leading performance and macro conditions are the strongest in more than five years, crypto remains a clear outlier, continuing to experience capital outflows instead of participating in the broader rally.



<h2 class="wp-block-heading">Bitcoin Consolidates As Internal Conditions Improve</h2>



Bitcoin's repeated failures to break above $100,000 contrasts with strong gains in traditional indices such as the Nasdaq and S&amp;P 500. 



Glassnode <a href="https://insights.glassnode.com/btc-market-pulse-week-4-2026/">data</a> indicates that while BTC remains range-bound, internal market conditions are gradually improving.



Spot market data shows easing sell pressure, rising volumes, and a shift toward positive buy-sell imbalances, though demand remains fragile.



 A key positive has been a sharp reversal to net inflows into U.S. spot Bitcoin ETFs, signalling renewed institutional accumulation, even as elevated holder profitability increases the risk of near-term profit-taking.



On-chain activity is also stabilizing, with improvements in active addresses, transfer volumes, and modestly higher fees. 



While Bitcoin remains in consolidation, improving spot dynamics and institutional flows suggest the groundwork for a more constructive market structure is slowly forming.



Image: Shutterstock

Bitcoin Glued To $90,000 As Gold, Silver, Stocks Rally: What Is Going On?

UBS Group AG, the world&#8217;s largest wealth manager with $4.7 trillion in assets, is preparing to offer Bitcoin <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> and Ethereum <a href="https://www.benzinga.com/quote/ETH-USD" target="_blank" class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a> trading to select private banking clients in Switzerland, with plans to expand to Asia-Pacific and the U.S.



<h3 class="wp-block-heading">How The Rollout Will Work</h3>



UBS is <a href="https://www.bloomberg.com/news/articles/2026-01-23/ubs-plans-crypto-trading-for-some-clients-in-digital-asset-push">currently</a> selecting partners for the crypto offering after months of discussions, Bloomberg reported on Friday, citing sources familiar with the matter. The bank hasn&#8217;t made a final decision on how to proceed.



The initial rollout will be limited to select private banking clients in Switzerland who want to buy and sell Bitcoin and Ethereum. 



UBS is using outside partners rather than building trading, custody, and compliance infrastructure in-house.



A UBS spokesperson declined to comment on specifics but said the bank &#8220;actively monitors developments and explores initiatives that reflect client needs, regulatory developments, market trends and robust risk controls.&#8221;



The move is driven by rising demand for digital assets from wealthy clients who want crypto exposure through their existing banking relationships rather than navigating crypto-native exchanges.



<h3 class="wp-block-heading">Why This Matters For Crypto Markets</h3>



When large wealth platforms add crypto trading, they bring steadier liquidity and a more traditional investor base to digital assets.



UBS managing $4.7 trillion means even a small allocation to crypto from its client base could move markets.&nbsp;



If just 1% of those assets flowed into bitcoin and ether, that would represent $47 billion in potential demand.



The bank is sticking to bitcoin and ether only—the two most liquid tokens with the clearest regulatory status.&nbsp;



That lowers operational and reputational risk compared to smaller tokens and targets where institutional demand is already concentrated.



<h3 class="wp-block-heading">The Bigger Institutional Wave</h3>



UBS joins a growing list of traditional banks expanding crypto offerings.



JPMorgan Chase &amp; Co. <a href="https://www.benzinga.com/quote/JPM" target="_blank" class="ticker-link" data-ticker="JPM" data-exchange="NYSE" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/JPM">JPM</a>)</a> is considering offering cryptocurrency trading to institutional clients, while Morgan Stanley <a href="https://www.benzinga.com/quote/MS" target="_blank" class="ticker-link" data-ticker="MS" data-exchange="NYSE" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MS">MS</a>)</a> said it would offer crypto trading on its E&#x2A;Trade platform starting in the first half of 2026.



The shift from cautious observer to active participant reflects changing risk calculations at major banks.&nbsp;



Crypto is no longer a side project—it&#8217;s a client-demand and risk-management question that banks can&#8217;t ignore.



President Donald Trump&#8217;s push to make America the &#8220;crypto capital of the world&#8221; is accelerating this trend.&nbsp;



Clearer regulatory frameworks give banks more confidence to build crypto products through tightly controlled channels.



Image: Shutterstock

UBS Reportedly Planing Bitcoin, Ethereum Trading For Wealthy Clients

The Senate Agriculture Committee has released an updated version of its crypto market structure bill, but negotiations between Republicans and Democrats have so far failed to produce a bipartisan agreement.



<h2 class="wp-block-heading">Current Status: Focus On Next Tuesday</h2>



With no deal in place, the legislation currently stands as effectively Republican-led, former Fox Business reporter Eleanor Terrett <a href="https://x.com/EleanorTerrett/status/2014403215824191905">stated</a> on X on Friday. 



Senator Cory Booker (D-NJ), the lead Democratic negotiator, has not endorsed the text, raising the likelihood that next Tuesday's committee markup could proceed along party lines. 



This contrasts with the House version, which advanced with broad bipartisan support.



Booker's office said discussions are ongoing, leaving open the possibility of limited Democratic backing. 



Industry response has been largely constructive, with stakeholders noting that the bill closely aligns with the House's Clarity Act.



Supporters say it protects non-custodial developers and infrastructure providers, keeps regulatory focus on intermediaries rather than protocols or users, classifies meme coins as digital commodities with room for carve-outs, and provides the CFTC with a dedicated funding mechanism through platform fees.



<h2 class="wp-block-heading">Banking Committee Timeline Remains Unclear</h2>



Progress in the Senate Banking Committee remains stalled, with a markup unlikely before late February or early March. 



Legislative priorities including housing bills, the February recess, and upcoming bank regulator hearings are expected to delay movement.



Meanwhile, discussions involving Coinbase <a href="https://www.benzinga.com/quote/COIN" target="_blank" class="ticker-link" data-ticker="COIN" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/COIN">COIN</a>)</a> major banks, and lawmakers over yield-related provisions have not resumed. 



Both the White House and committee leadership have indicated that a framework agreement will be required before formal negotiations restart.



For now, industry attention remains focused on the Senate Agriculture Committee's markup scheduled for next Tuesday, assuming no delays due to weather or scheduling changes.



Image: Shutterstock

Crypto Market Structure Bill Eyes Crucial Tuesday Debate

The SEC and CFTC will hold a joint public event on January 27 to unveil their coordinated crypto oversight blueprint and end years of agency turf wars.



<h3 class="wp-block-heading">The Joint Event: What&#8217;s Happening</h3>



SEC Chair Paul Atkins and CFTC Chair Mike Selig will headline the rare joint event at CFTC headquarters in Washington, starting at 10 a.m. Eastern on Tuesday.&nbsp;



The event will be open to the public and livestreamed on the SEC website.



Atkins <a href="https://x.com/SECPaulSAtkins/status/2014470106219168160">said</a> the two agencies will discuss their harmonization efforts and how they&#8217;re working to deliver on Trump&#8217;s promise to make the U.S. the crypto capital of the world.



Selig <a href="https://x.com/ChairmanSelig/status/2014495154615251255">said</a> the joint event will showcase how the SEC and CFTC are working together to execute Trump&#8217;s vision, and that they&#8217;ll share their blueprint for U.S. financial leadership in the crypto era.



Both chairs made clear that the agencies have ended their regulatory turf wars and are now aligned on a coordinated approach to crypto oversight.



<h3 class="wp-block-heading">Why This Matters: The Turf War Is Over</h3>



The SEC and CFTC have <a href="https://www.coindesk.com/policy/2026/01/22/sec-cftc-to-push-united-crypto-work-now-that-they-both-have-trump-appointed-heads">fought</a> for years over which agency controls crypto oversight. The SEC claimed most digital assets are securities, while the CFTC argued many are commodities.



That jurisdictional battle created regulatory chaos—companies didn&#8217;t know which rules applied, and enforcement actions often contradicted each other.



In a joint statement Thursday, Atkins and Selig said legacy jurisdictional divisions have created unclear regulatory boundaries.



They said those divisions have left market participants navigating misaligned rules.



Mike Selig joined the CFTC as permanent chairman last month after serving as a senior SEC official working on crypto policy under Atkins.&nbsp;



That direct connection between the two agencies eliminates the coordination problems that plagued previous administrations.



Selig already announced a new &#8220;future-proof&#8221; crypto initiative this week at the CFTC, signaling the agency is moving fast on Trump&#8217;s directives.



<h3 class="wp-block-heading">What Clearer Rules Mean For Markets</h3>



Harmonized oversight between the SEC and CFTC could lower compliance costs for crypto companies, making it cheaper and less risky to operate in the U.S.



That matters for institutional adoption. Banks and asset managers have stayed cautious on crypto partly because unclear rules create legal and regulatory risk.&nbsp;



If both agencies agree on a framework, institutions can build crypto products without fear of conflicting enforcement actions.



The event also signals that crypto innovation will stay onshore instead of moving to jurisdictions with clearer rules.



<h3 class="wp-block-heading">What Happens Next</h3>



The January 27 event will provide the clearest picture yet of how the Trump administration plans to regulate crypto.&nbsp;



Traders should watch for specific commitments on timelines, rule proposals, and which assets fall under which agency&#8217;s jurisdiction.



If the blueprint provides real clarity, it removes a major regulatory overhang that&#8217;s kept crypto markets range-bound.&nbsp;



Bitcoin <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> and Ethereum <a href="https://www.benzinga.com/quote/ETH-USD" target="_blank" class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a> could rally on confirmation that U.S. regulatory uncertainty is ending.



Image: Shutterstock

SEC, CFTC Announce Rare Joint Event Next Tuesday To Advance Trump's 'Crypto Capital' Agenda

Bitcoin remains below $90,000 level as liquidations stand at $207.90 million over the past 24 hours.   



Bitcoin ETFs saw $32.1 million in net outflows on Thursday, while Ethereum ETFs reported $41.98 million in net outflows.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td> Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Bitcoin</td><td><a href="https://www.benzinga.com/quote/BTC" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a></td><td>$89,130.68</td></tr><tr><td>Ethereum</td><td><a href="https://www.benzinga.com/quote/ETH" target="_blank" class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a></td><td>$2,934.60</td></tr><tr><td>Solana</td><td><a href="https://www.benzinga.com/quote/SOL" target="_blank" class="ticker-link" data-ticker="SOL" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</a></td><td>$127.39</td></tr><tr><td>XRP</td><td><a href="https://www.benzinga.com/quote/XRP" target="_blank" class="ticker-link" data-ticker="XRP" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</a></td><td>$1.90</td></tr><tr><td>Dogecoin</td><td><a href="https://www.benzinga.com/quote/DOGE" target="_blank" class="ticker-link" data-ticker="DOGE" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</a></td><td>$0.1251</td></tr><tr><td>Shiba Inu</td><td><a href="https://www.benzinga.com/quote/SHIB" target="_blank" class="ticker-link" data-ticker="SHIB" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</a></td><td>$0.057839</td></tr></tbody></table></figure>



Crypto chart analyst Ali Martinez <a href="https://x.com/alicharts/status/2014640249352188292">identified</a> $87,400 as a key support level for Bitcoin within its current trading channel.



CryptosBatman <a href="https://x.com/CryptosBatman/status/2014631910899700075">said</a> Bitcoin's next downside target sits near $84,000, based on a 1.618 Fibonacci extension from the latest swing high to low. He added that during periods of heightened uncertainty, patience and inaction are often the most prudent strategy.



Ted Pillows <a href="https://x.com/TedPillows/status/2014624845473185932">noted</a> that Ethereum has weakened after losing its uptrend support and failing to reclaim the $3,000 level. He said a move lower to sweep the $2,800–$2,850 support zone now appears increasingly likely before any renewed upside.



For XRP, CryptosBatman <a href="https://x.com/CryptosBatman/status/2014650315283239325">said</a> the asset remains one of the more constructive charts. Zooming out shows XRP consolidating above its 2020 cycle high, which, if maintained, would still signal bullish consolidation rather than a breakdown.



The meme coin sector slipped 1.1% to a total market capitalization of $44.4 billion, broadly tracking overall market weakness.



Ali Martinez <a href="https://x.com/alicharts/status/2014460313354097000">added</a> that Dogecoin often respects wedge formations, and a breakout from its current structure could result in a sharp move.



Image: Shutterstock

Bitcoin Frozen Below $90,000, Ethereum, XRP, Dogecoin Volatile Into $2.1 Billion Options Expiry

Eric Trump said major U.S. banks are actively resisting cryptocurrency legislation because it threatens what he described as a long-standing monopoly over the financial system.



<h2 class="wp-block-heading">&#8216;Big Banks&#8217; Trying Everything To Stop Crypto Legislation</h2>



The son of President Donald Trump and the co-founder of American Bitcoin Corp. <a class="ticker-link" data-ticker="ABTC" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/ABTC" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ABTC">ABTC</a>)</a> and World Liberty Financial <a class="ticker-link" data-ticker="WLFI" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/WLFI-USD" target="_blank" rel="noopener">(CRYPTO: WLFI)</a> argued that legacy banks benefit from inefficiencies built into traditional finance and have little incentive to support faster, technology-driven alternatives, while speaking to Fox Business from Davos on Thursday. 



&#8220;The big banks have been an absolute monopoly of our financial system for years,&#8221; he said, while pointing to inefficiencies in the current system. &#8220;Why can&#8217;t you send a wire transfer past 5 o&#8217;clock on a Friday afternoon?&#8221; he asked.



According to Trump, these delays and inefficiencies are intentional, &#8220;because the big banks would love to take hundreds of billions of dollars and have it sit there and clip interest off of it over the course of a long weekend,&#8221; he said.



Trump said modern digital alternatives make it possible to move money nearly instantly, but the banks oppose these changes because they undermine the current system. &#8220;They want to be able to use their money. They want to be able to arbitrage your money,&#8221; he said.



Such incentives, he said, are prompting the &#8220;big banks&#8221; to do everything they can to stop the &#8220;crypto legislation&#8221; for &#8220;obvious&#8221; reasons. &#8220;The entire financial system is changing.&#8221;



<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The entire financial system is changing… <a href="https://t.co/dargAZlArx">https://t.co/dargAZlArx</a>&mdash; Eric Trump (@EricTrump) <a href="https://twitter.com/EricTrump/status/2014310326175441396?ref_src=twsrc%5Etfw">January 22, 2026</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Crypto Market Structure Bill Delayed</h2>



This comes as the Senate Banking Committee has <a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/50063800/trump-hailed-crypto-bill-as-stepping-stone-to-financial-freedom-so-why-did-the-senate-delay-until-march">pushed the crypto market structure bill</a> further down the line to late February or March, after&nbsp;Coinbase Global Inc.&nbsp;<a href="https://www.benzinga.com/quote/COIN" target="_blank" rel="noopener"></a><a href="https://www.benzinga.com/quote/COIN" target="_blank" class="ticker-link" data-ticker="COIN" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/COIN">COIN</a>)</a>&nbsp;withdrew its support due to disagreements with the banking industry. 



In September 2025, Trump had predicted an &#8220;unbelievable&#8221; <a href="https://www.benzinga.com/crypto/cryptocurrency/25/09/47911175/eric-trump-repeats-his-1-million-prediction-for-bitcoin-foresees-an-unbelievable-q4-for-crypto">fourth-quarter rally in cryptocurrency markets</a> amid rising M2 money supply and quantitative easing by the Federal Reserve.



This, however, has failed to materialize, with Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> prices dropping 19.8% since he made this prediction. The upcoming market structure bill is expected to turn the tide for the market, with investors and analysts viewing it as a much-needed catalyst. 



The iShares Bitcoin Trust ETF <a class="ticker-link" data-ticker="IBIT" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/IBIT" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/IBIT">IBIT</a>)</a>, which tracks the prices of Bitcoin, was down 0.86% on Thursday, closing at $50.67 per share and is up 0.39% overnight. The fund has a poor Momentum score in Benzinga&#8217;s Edge Stock Rankings, with an unfavorable price trend in the short, medium and long terms. 



<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="201" src="https://editorial-assets.benzinga.com/wp-content/uploads/2026/01/22213703/Screenshot-2026-01-23-at-8.06.28-AM-1024x201.png" alt="" class="wp-image-1271895" style="width:627px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2026/01/22213703/Screenshot-2026-01-23-at-8.06.28-AM-1024x201.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2026/01/22213703/Screenshot-2026-01-23-at-8.06.28-AM-300x59.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2026/01/22213703/Screenshot-2026-01-23-at-8.06.28-AM-768x151.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2026/01/22213703/Screenshot-2026-01-23-at-8.06.28-AM.png 1132w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



Photo Courtesy: Maxim Elramsisy On Shutterstock.com

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