An elderly couple was swindled out of their $1.3 million retirement fund by scammers pretending to be representatives&nbsp;from the Federal Trade Commission&nbsp;(FTC). The elaborate scam involved Bitcoin ATMs and gold bullion transactions.



Barbara and Larry Cook were approached by fraudsters in September 2023, who impersonated security representatives of Amazon and TD Bank. The scammers convinced the Cooks that their identity had been misused for illegal purchases on the dark web.



The Cooks were ensnared in a convoluted scam that had them depositing large amounts of money into Bitcoin ATMs and surrendering gold bullion in Maine and Florida. They were made to believe they were aiding the FTC in apprehending cybercriminals.



As per the report by <a href="https://www.businessinsider.com/senior-couple-ftc-scam-retirement-fund-bitcoin-gold-2026-1">Insider</a>, the scam continued for over half a year before the Cooks realized they had been tricked. By this time, they had lost their entire savings of $1.3 million, earmarked for their retirement, charity, and family inheritance.



The couple was assigned a fictitious &#8220;FTC agent&#8221; named &#8220;Ryan Terry,&#8221; who walked them through the process of setting up a Bitcoin wallet and conducting transactions. The Cooks were convinced their actions were part of a legitimate investigation and that they were acting patriotically.



The scam was finally unmasked in April 2024 when Larry Cook attempted to contact &#8220;Terry&#8221; and found his WhatsApp was no longer operational. The FTC confirmed there was no such agent, and an investigation was initiated.



Despite the ongoing investigation, the authorities have suggested that the Cooks are unlikely to recover their lost savings. The couple is now sharing their story to alert others and provide solace to&nbsp;those who have been similarly&nbsp;scammed.



This incident underscores the growing threat of cybercrime and the sophistication of scams targeting vulnerable individuals. It serves as a stark reminder for individuals to exercise caution when dealing with unsolicited communications, especially those involving financial transactions. 



It also highlights the need for financial institutions and tech companies to bolster their security measures and educate their customers about potential scams.



Image: Shutterstock/Igor Faun

Elderly Couple Duped Into 'Helping' Investigation in $1.3 Million Bitcoin ATM Scam

Following Nicolás Maduro&#8217;s ouster, attention has turned to Venezuelan opposition leader María Corina Machado&#8217;s potential return, and with her, the prospects for 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> in the oil-rich nation.



<h2 class="wp-block-heading">Machado Called Bitcoin &#8216;Lifeline&#8217; For Venezuelans</h2>



Machado, who won the Nobel Peace Prize for her efforts to advance democracy in Venezuela, is a known Bitcoin advocate.



In a 2024 interview, she described the apex cryptocurrency as a "lifeline" for Venezuelans during periods of hyperinflation.



Machado envisioned Bitcoin as part of national reserves in a &#8220;new&#8221; Venezuela.



<h2 class="wp-block-heading"></h2>



<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="Venezuela Opposition Leader Marina Machado: National Bitcoin Reserve Proposal" width="500" height="281" src="https://www.youtube.com/embed/5DNrpZVWxEU?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></figure>







<h2 class="wp-block-heading">Venezuela&#8217;s Crypto Adoption</h2>



Venezuela has a<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38378731/venezuela-turns-to-crypto-as-us-sanctions-return-on-oil-exports"> long history of cryptocurrency usage</a> amid hyperinflation, both by citizens seeking monetary stability and the government relying on Tether <a class="ticker-link" data-ticker="USDT" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/USDT-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>)</a> and Bitcoin to bypass sanctions.



The country recorded nearly $45 billion in cryptocurrency transaction volumes for the period between July 2024 and June 2025, <a href="https://www.chainalysis.com/blog/2025-global-crypto-adoption-index/">according </a>to blockchain analytics firm Chainalysis. It also stood above countries such as Japan and Argentina in Chainalysis&#8217; 2025 Global Crypto Adoption Index.



<h2 class="wp-block-heading">Venezuela&#8217;s Unconfirmed Bitcoin Cache</h2>



Some reports suggest that Venezuela may already be sitting on a huge Bitcoin pile. 



Multimedia publication Project Brazen <a href="https://whalehunting.projectbrazen.com/the-60-billion-question-is-venezuela-secretly-a-bitcoin-superpower/">stated </a>that the country could hold as much as $60 billion in BTC, citing sources familiar with the matter. 



A conservative estimate by <a href="http://bitcointreasuries.net/" target="_blank" rel="noreferrer noopener">Bitcointreasuries.net</a>, a widely used source for data on Bitcoin treasury firms, pegs Venezuela&#8217;s holdings at 240 BTC, worth $22 million, as of this writing.



<h2 class="wp-block-heading">Why Does That Matter?</h2>



Interestingly, CNBC <a href="https://www.youtube.com/shorts/iHPNeI49F6Y">speculated </a>that the U.S. potentially seizing Venezuela&#8217;s BTC reserves and adding it to its own Strategic Bitcoin Reserve could act as a &#8220;bull case&#8221; for the market. The legality of such a move, however, is debatable.



<h2 class="wp-block-heading">Odds Not In Machado&#8217;s Favor</h2>



The other aspect to ponder is whether Machado can assume power anytime soon, given that Venezuela is still led by Maduro&#8217;s deputy, Delcy Eloína Rodríguez.



Bettors on Polymarket <a href="https://polymarket.com/event/us-recognizes-machado-as-leader-of-venezuela-by-january-31">barely </a>see any chance of the U.S. recognizing Machado as the leader of Venezuela. She, however, vowed to <a href="https://www.foxnews.com/world/nobel-peace-prize-recipient-machado-pledges-return-venezuela-sees-alarming-internal-crackdown">return </a>to her country in a recent interview with Fox News.



Price Action: At the time of writing, BTC was exchanging hands at $90,974.85, up 0.22% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.



Photo Courtesy: Jonathan Mishkin on Shutterstock.com

Nobel Laureate Maria Machado Envisioned A Bitcoin National Reserve For 'New' Venezuela - But Bettors Doubt She'd Be Taking Over Caracas Anytime Soon

Global asset manager VanEck has projected a potential surge in the price of 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>, which could reach as high as $53.4 million by 2050.



VanEck&#8217;s optimistic forecast predicts&nbsp;a compound annual growth rate&nbsp;(CAGR) of 29% for Bitcoin&nbsp;over the next quarter-century. This &#8220;hyper-Bitcoinization&#8221; scenario suggests Bitcoin gaining a significant share of both domestic and international trades.



The <a href="https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-vaneck-bitcoin-long-term-capital-market-assumptions/">report </a>states, &#8220;In a &#8216;hyper-Bitcoinization&#8217;&nbsp;scenario where Bitcoin captures 20%&nbsp;of international trade and 10%&nbsp;of domestic GDP, the implied&nbsp;value per coin could reach&nbsp;$53.4 million.&#8221;



For this to occur, Bitcoin would need to match or even exceed&nbsp;gold as a primary global&nbsp;reserve asset, making up&nbsp;nearly 30% of world financial&nbsp;assets.



Even in VanEck&#8217;s base case, Bitcoin is projected to experience a substantial price increase, with a 15% CAGR&nbsp;leading to a price of&nbsp;$2.9 million per BTC by&nbsp;2050. In this scenario, BTC would represent 5-10% of global trade&nbsp;and 5% of domestic swaps.



As of last Friday, Bitcoin was trading at $90,319, nearly 3,100% off VanEck&#8217;s&nbsp;2050 base case. To reach&nbsp;the firm&#8217;s bull case, Bitcoin would need to surge by more than 59,000%.



VanEck&#8217;s 2050 valuations have seen a slight increase since they were first released&nbsp;in 2024. At that time,&nbsp;the firm&nbsp;provided a bull case of&nbsp;$52.3 million per BTC, while&nbsp;its base and bear cases&nbsp;remained relatively unchanged.



VanEck&#8217;s forecast is a testament to the growing acceptance of Bitcoin as a legitimate asset class. The prediction of Bitcoin&#8217;s potential to match&nbsp;or surpass gold as a&nbsp;global reserve asset underscores the cryptocurrency&#8217;s increasing credibility in the financial world. 



This projection also highlights the potential for Bitcoin to play a significant role in both domestic and international trades, further solidifying its position in the global economy.

Bitcoin Could Hit $53.4 Million by 2050 as Adoption Grows, VanEck Says

This week was a rollercoaster ride in the world of cryptocurrency. Bitcoin is showing signs of a potential rally in 2026, while Ethereum has surged above $3,100. Let&#8217;s dive into the details.



<h2 class="wp-block-heading">Bitcoin&#8217;s Potential Rally In 2026</h2>



Bitcoin is setting up well for a rally in 2026. Glassnode data shows that profit-taking pressure has largely subsided, allowing Bitcoin to rebound from around $87,000 into the mid-$90,000 range. This move reflects exhaustion on the sell side and signals a stabilization phase.



<a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/49821089/bitcoin-is-set-for-a-rally-in-2026-if-these-levels-break-report">Read the full article here.</a>



<h2 class="wp-block-heading">VanEck&#8217;s Bitcoin Projection</h2>



VanEck has released long-term capital market assumptions projecting Bitcoin could reach $2.9 million by 2050. This projection represents a structural shift from speculative asset to institutional monetary instrument.



<a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/49809271/forget-150000-bitcoins-real-target-is-2-9-million-vaneck">Read the full article here.</a>



<h2 class="wp-block-heading">Ethereum&#8217;s Surge Above $3,100</h2>



Ethereum has reclaimed the $3,000 level on broader market strength. However, signals remain mixed on whether the move can extend into a sustained breakout.



<a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/49791775/ethereum-surges-above-3100-but-bearish-alarm-bells-ring">Read the full article here.</a>



<h2 class="wp-block-heading">Novogratz&#8217;s Concerns About Crypto Treasury Companies</h2>



Galaxy Digital Inc. CEO Mike Novogratz has expressed concern about the current state of cryptocurrency treasury companies. He emphasized the importance of creating shareholder value beyond just owning the underlying asset.



<a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/49806511/mike-novogratz-tells-scaramucci-crypto-treasuries-will-trade-below-nav-without-real-strategy-not-going-to-get-shareholder-value-just-by">Read the full article here.</a>



<h2 class="wp-block-heading">Trump&#8217;s Stance On Crypto Fraud</h2>



President Donald Trump has dismissed the idea of pardoning jailed cryptocurrency fraudster Sam Bankman-Fried. Bankman-Fried, who once promised to &#8220;build the future of finance,&#8221; is serving a 25-year sentence.



<a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/49804509/trump-isnt-giving-sam-bankman-fried-a-get-out-of-jail-card-reiterates-resolve-to-make-us-global-crypto-leader">Read the full article here.</a>



Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.



Image via Shutterstock

Weekend Round-Up: Bitcoin's Potential Rally, Ethereum's Surge And Trump's Stance On Crypto Fraud

Members of Congress have <a href="https://www.benzinga.com/news/politics/25/12/49613154/senator-bought-up-to-1-6-million-in-bitcoin-etf-shares-in-2025-heres-the-potential-conflict-of-interest">been actively buying up</a> 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> and Bitcoin ETFs over the last 12 months. Many of the purchasers are allies of President Donald Trump and serve on financial committees, which could be a conflict of interest.



<h2 class="wp-block-heading">Congressman Buys Bitcoin</h2>



Congressman Byron Donalds (R-Fla.) recently disclosed buying $50,000 to $100,000 in Bitcoin, as reported by the<a href="https://www.benzinga.com/government-trades/members/byron-donalds"> Benzinga Government Trades page.</a>



The <a href="https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2026/20033747.pdf">purchase </a>came alongside Donald disclosing the sale of shares of Abbott Laboratories <a class="ticker-link" data-ticker="ABT" data-exchange="NYSE" href="https://www.benzinga.com/quote/ABT" target="_blank" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ABT">ABT</a>)</a> and the purchase of shares of Comfort Systems <a class="ticker-link" data-ticker="FIX" data-exchange="NYSE" href="https://www.benzinga.com/quote/FIX" target="_blank" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FIX">FIX</a>)</a>.



This marks the first purchase of Bitcoin by Donalds. Bitcoin traded between $84,436.31 to $89,412.66 on Dec. 18 and currently trades at $90,268.43, marking a gain for Donalds in the short time since he made the trade.



Donalds is a close ally of Trump. The president has signaled support for cryptocurrency and made several executive orders related to cryptocurrency since taking office.



The congressman is <a href="https://www.politico.com/news/2025/11/30/trumps-pick-to-replace-desantis-faces-a-republican-pile-on-in-florida-00670305">running </a>to be the next governor of Florida in the 2026 election and has the support of Trump in the race.



<h2 class="wp-block-heading">Committee Assignments Spark Conflict</h2>



Donalds currently serves on the Committee on Financial Services and on the Digital Assets, Financial Technology and Artificial Intelligence subcommittee.



Other members of these committees have purchased Bitcoin or Bitcoin ETFs over the past year, which has sparked concerns of potential conflicts of interest.



There are several pending pieces of legislation for Congress related to cryptocurrency. As a member of certain committees, members could have first-hand knowledge of the progress of legislation and timeline of any potential approvals or delays.



As a close ally of Trump and a member of the Digital Assets committee, the purchase of Bitcoin by Donalds could spark concerns from investors and/or mark a potential good entry point that deserves monitoring.



Bitcoin soared to new all-time highs of $126,198.07 in October 2025, but have fallen since then. Bitcoin is down 16.8% in the last six months and down 4.5% over the last year.



Image: Shutterstock

Trump's Pick For Next Governor Of Florida Buys Bitcoin: Is Congressional Committee A Conflict?

Bitcoin is holding above $90,000 amid a solid U.S. jobs data release on Friday.



<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>$90,526.47</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>$3,084.76</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>$136.55</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>$2.09</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>$0.1402</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>$0.058633</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>Coinglass data shows 80,473 traders were liquidated in the past 24 hours for $202.65 million.       </li>



<li>In the past 24 hours, top gainers include Polygon, Pump.fun and Stacks.</li>
</ul>



Notable Developments:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/49820086/3-reasons-why-bitcoin-eth-xrp-sentiment-is-turning-bullish-in-2026">3 Reasons Why Bitcoin, ETH, XRP Sentiment Is Turning Bullish In 2026</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/49809271/forget-150000-bitcoins-real-target-is-2-9-million-vaneck">Forget $150,000, Bitcoin&#8217;s Real Target Is $2.9 Million: VanEck</a></li>



<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/26/01/49812096/coinbase-global-analyst-turns-bullish-on-product-velocity-tam-expansion">Coinbase Global Analyst Turns Bullish On Product Velocity, TAM Expansion</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/49807173/2026-trailblazers-these-cryptos-might-be-worth-your-attention">2026 Trailblazers: These Cryptos Might Be Worth Your Attention</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/49806511/mike-novogratz-tells-scaramucci-crypto-treasuries-will-trade-below-nav-without-real-strategy-not-going-to-get-shareholder-value-just-by">Mike Novogratz Tells Scaramucci Crypto Treasuries Will Trade Below NAV Without Real Strategy: &#8216;Not Going To Get Shareholder Value Just By&#8230;&#8217;</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/49814694/trump-pardoned-ross-ulbricht-and-changpeng-zhao-but-wont-touch-sbf-heres-why">Trump Pardoned Ross Ulbricht And Changpeng Zhao, But Won&#8217;t Touch SBF — Here&#8217;s Why</a></li>
</ul>



Trader Notes: Altcoin Sherpa <a href="https://x.com/AltcoinSherpa/status/2009679034142077077">said</a> the current environment favors either short-term scalp trades or staying on the sidelines until Bitcoin delivers a strong, sustained breakout above $94,000. 



Until that happens, choppy price action is expected, making capital preservation the priority.



Crypto trader Jelle <a href="https://x.com/CryptoJelleNL/status/2009637094000361791">noted</a> that weeks after the sell-off, Bitcoin appears to have found a bottom following a dip to RSI 37. 



While the precise catalyst is unclear, he highlighted that this RSI level has historically acted as a meaningful inflection zone for BTC.



Michael van de Poppe <a href="https://x.com/CryptoMichNL/status/2009686612897345696">described</a> the current move as a key bounce, pointing out that Bitcoin is holding its crucial 21-day moving average and beginning to grind higher. 



He said the price action shows clear buying interest at these levels.



If this strength persists through the weekend, the probability of a push toward $94,000 rises significantly, which could reignite momentum across the broader altcoin market.



 Image: Shutterstock

Bitcoin Holds $90,000 As Ethereum, XRP, Dogecoin Slide Over 1%

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> may play an underrated role in the recent protests in Iran, with the Iranian Revolutionary Guard reportedly moving $1 billion through crypto exchanges to evade sanctions.



<h3 class="wp-block-heading">Currency Collapse Drives Mass Bitcoin Adoption</h3>



The Iranian rial crashed to a record 1.42 million per U.S. dollar in late December, having lost over 40% of its value since June 2025.



While ordinary citizens flee economic <a href="https://www.washingtonpost.com/world/2026/01/09/iran-irgc-revolutionary-guard-cryptocurrency/">collapse</a>, Iran&#8217;s Islamic Revolutionary Guard Corps (IRGC) has been using cryptocurrency for a different purpose: evading international sanctions.



TRM Labs identified Zedcex and Zedxion, two UK-registered exchanges, as key facilitators of IRGC transactions. IRGC-linked activity accounted for 56% of total volume on these platforms between 2023 and 2025. 



The vast majority of transactions used Tether&#8217;s USDT stablecoin on the Tron <a href="https://www.benzinga.com/quote/TRX-USD" target="_blank" class="ticker-link" data-ticker="TRX" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>)</a> blockchain.



IRGC crypto transactions surged dramatically: from $24 million in 2023 to $619 million in 2024, and $410 million through early 2025. TRM Labs traced funds through 187 sanctioned wallet addresses.



In one notable case, investigators identified a $10 million payment from an IRGC wallet to accounts funding Yemen&#8217;s Houthi rebels. 



Between Hezbollah, Hamas, and the Houthis, these organizations are now using cryptocurrency at previously unseen scales, with total identified volumes exceeding $2 billion.



<h3 class="wp-block-heading">Iran Offers Crypto Payments For Weapons Sales</h3>



Adding another dimension to Iran&#8217;s crypto strategy, the country is now openly advertising weapons sales with cryptocurrency payment options. 



According to promotional materials from the Ministry of Defence Export Center (Mindex), Iran is offering ballistic missiles, drones, and warships with crypto payment capabilities.



Mindex claims relationships with 35 countries, though their identities remain undisclosed. 



Security analysts note it&#8217;s extraordinarily rare for a country to openly advertise cryptocurrency payments for strategic military equipment.



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



The Iranian crisis validates Bitcoin&#8217;s value proposition as censorship-resistant money during currency collapse.&nbsp;



However, the internet shutdown exposes a critical vulnerability: Bitcoin requires infrastructure that authoritarian regimes can shut down.



The $1 billion IRGC operation demonstrates cryptocurrency&#8217;s evolution from fringe asset to tool of statecraft.&nbsp;



Between Hezbollah, Hamas, and the Houthis, these organizations are using cryptocurrency at scales previously unseen, with total identified volumes currently standing at over $2 billion.



For Ethereum, the IRGC&#8217;s choice of USDT on Tron rather than Ethereum highlights competition: lower fees and faster settlement make alternative chains more attractive for moving large sums under sanctions.&nbsp;



This fragments the crypto ecosystem and challenges Ethereum&#8217;s DeFi dominance.



The situation positions XRP as potentially favored by regulators because its compliance-focused design makes it less attractive to sanctioned actors, while still offering speed and low costs for legitimate cross-border commerce.



Polymarket traders assign about a 17% chance that Khamenei will be removed from power by the end of January, with trading volume spiking to $4.7 million in four days.



Image source: Shutterstock

Bitcoin's Overlooked Role In The Protests In Iran

Wall Street found firm footing to close the week as solid but unspectacular jobs data eased fears of a sharp labor market slowdown while keeping Federal Reserve <a href="https://www.benzinga.com/topic/federal-reserve">rate-cut expectations intact.</a>



 • Vistra shares are powering higher. <a href="https://www.benzinga.com/quote/VST" target="_blank" rel="noreferrer noopener">Why is VST stock surging?</a>



Both the S&amp;P 500 and the Russell 2000 climbed to fresh record highs, signaling a rally that has broadened across both large-cap and small-cap stocks. By midday trading in New York, the index of the 500 largest U.S. corporations broke above 6,970 points, up 0.7%. The Russell 2000 jumped up to 1.2% to 2,635, setting another all-time high and marking its fifth gain in the past six sessions.



Blue-chip stocks also hovered near record levels, with the Dow Jones Industrial Average trading around 49,555. The tech-heavy Nasdaq 100 advanced 1% but remained roughly two percentage points below its late-October peak.



December nonfarm payrolls rose by 50,000, slightly below expectations of 60,000, confirming a continued cooling in employment growth. The brighter signal came from the unemployment rate, which unexpectedly declined to 4.4% from 4.5%, suggesting the labor market may be stabilizing after <a href="https://www.benzinga.com/markets/economic-data/26/01/49811034/us-economy-adds-50000-jobs-in-december-unemployment-rate-drops-to-4-4">months of gradual deterioration.</a>



On the consumer side, the University of Michigan reported stronger-than-expected sentiment at the start of the year. The index climbed to 54, its highest level since September.



Investors are now almost fully pricing in the Federal Reserve to leave interest rates unchanged at its late-January meeting, according to the CME FedWatch tool. Expectations remain alive for two rate cuts later in the year.



Among notable movers, Vistra Corp. <a class="ticker-link" data-ticker="VST" data-exchange="NYSE" href="https://www.benzinga.com/quote/VST" target="_blank" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VST">VST</a>)</a> surged after securing a 20-year agreement with Meta Platforms Inc. <a class="ticker-link" data-ticker="META" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/META" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/META">META</a>)</a> to supply more than 2,600 megawatts of zero-carbon energy from <a href="https://www.benzinga.com/trading-ideas/movers/26/01/49814689/nuclear-stocks-rip-higher-as-meta-goes-atomic">nuclear plants in Ohio and Pennsylvania.</a> Shares rallied more than 13%.



Intel Corp. <a class="ticker-link" data-ticker="INTC" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/INTC" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/INTC">INTC</a>)</a> also<a href="https://www.benzinga.com/markets/equities/26/01/49809164/intel-momentum-spikes-after-trump-reveals-tens-of-billions-of-dollars-in-federal-gains"> jumped </a>10%, reaching its highest levels since March 2024, after President Donald Trump described his recent meeting with <a href="https://www.benzinga.com/markets/tech/26/01/49808397/intels-high-stakes-revival-gets-trump-boost">CEO Lip-Bu Tan as "a great meeting."</a>



Commodities extended their advance. Silver rebounded sharply, climbing 4% to the $80-an-ounce level. Gold added 0.6% to $4,500 an ounce, while copper rose nearly 2%.



Crude oil was <a href="https://www.benzinga.com/markets/market-summary/26/01/49818860/crude-oil-rises-sharply-us-consumer-sentiment-edges-higher-in-january">on track for a weekly gain</a>, with WTI crude eyeing back-to-back 3% advances on Thursday and Friday, despite early-week pressure tied to geopolitical developments in Venezuela.



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> traded flat near $91,000, showing little movement for the week and continuing to lag equities and precious metals.



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



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Major Indices</th><th>Price</th><th>% Change</th></tr></thead><tbody><tr><td>Nasdaq 100</td><td>25,773.72</td><td>+1%</td></tr><tr><td>S&amp;P 500</td><td>6,973.17</td><td>+0.7%</td></tr><tr><td>Dow Jones</td><td>49,554.46</td><td>+0.6%</td></tr><tr><td>Russell 2000</td><td>2,632.10</td><td>+1.1%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:50 p.m. ET</figcaption></figure>



According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent010926&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 



<ul class="wp-block-list">
<li>The Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VOO">VOO</a>) advanced 0.7% to $638.49. </li>



<li>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DIA">DIA</a>) moved 0.5% higher to $495.06. </li>



<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QQQ">QQQ</a>) climbed 1.0% to $626.40. </li>



<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IWM">IWM</a>) traded at $261.29, up 1.2%. </li>



<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLU">XLU</a>) outperformed, rising 1.6%, while the Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLV">XLV</a>) lagged, flat on the session.</li>
</ul>



<h2 class="wp-block-heading">Russell 1000's Top 5 Gainers On Friday</h2>



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Stock Name</th><th>% Change</th></tr></thead><tbody><tr><td>UWM Holdings Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/UWMC">UWMC</a>)</td><td>+12.85%</td></tr><tr><td>Vistra Corp.</td><td>+10.53%</td></tr><tr><td>Builders FirstSource, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BLDR">BLDR</a>)</td><td>+11.06%</td></tr><tr><td>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ASTS">ASTS</a>)</td><td>+9.51%</td></tr><tr><td>SanDisk Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SNDK">SNDK</a>)</td><td>+12.90%</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">Russell 1000's Top 5 Losers On Friday</h2>



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Stock Name</th><th>% Change</th></tr></thead><tbody><tr><td>Under Armour, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/UAA">UAA</a>)</td><td>-6.25%</td></tr><tr><td>Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/RDDT">RDDT</a>)</td><td>-5.58%</td></tr><tr><td>Maplebear Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/CART">CART</a>)</td><td>-5.25%</td></tr><tr><td>Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/LULU">LULU</a>)</td><td>-4.34%</td></tr><tr><td>DoorDash, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DASH">DASH</a>)</td><td>-3.55%</td></tr></tbody></table></figure>



Image created using artificial intelligence via Midjourney.

S&P 500, Russell 2000 Soar To Record Highs, Silver Jumps To $80: What's Moving Markets Friday?

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> is setting up well for a rally in 2026, backed by several bullish technical indicators and receding sell pressure.



What Happened: Glassnode data <a href="https://insights.glassnode.com/the-week-onchain-week-01-2026/">shows</a> that profit-taking pressure has largely subsided, allowing Bitcoin to rebound from around $87,000 into the mid-$90,000 range. 



The move reflects exhaustion on the sell side—particularly among long-term holders—and signals a stabilization phase following the distribution seen in the fourth quarter of 2025.



However, upside momentum now faces substantial overhead supply between roughly $92,000 and $117,000, where many recent buyers are sitting near breakeven. 



Absorbing this supply is expected to take time and remains a key obstacle to a sustained bullish continuation.



A critical level to watch is the short-term holder (STH) cost basis near $99,000. 



A sustained move above this level would signal renewed confidence and trend recovery. 



Failure to reclaim it increases the risk of an extended consolidation or bearish phase, as recent buyers remain modestly underwater.



Why It Matters: Glassnode highlights several off-chain dynamics that point to improving—but still cautious—conditions:



<ul class="wp-block-list">
<li>Corporate treasury demand remains opportunistic and highly price-sensitive, providing downside support rather than acting as a primary trend driver.</li>



<li>U.S. spot Bitcoin ETF flows have turned positive again, signaling an early return of institutional spot demand.</li>



<li>Futures open interest is rebuilding gradually, suggesting rising risk appetite without signs of excessive leverage.</li>
</ul>



Derivatives markets also show signs of normalization. Implied volatility appears to have bottomed and is beginning to rise modestly, though it remains compressed. Positioning is increasingly skewed toward call options, reflecting a cautious but constructive shift in trader sentiment.



A record options expiry recently cleared roughly 45% of open interest, removing price-pinning effects and providing a cleaner signal on underlying market sentiment as Bitcoin moves further into 2026.



Image: Shutterstock

Bitcoin Is Set For A Rally In 2026 If These Levels Break: Report

Polymarket faces credibility questions after controversial rulings on several markets that have cost traders millions.



<h3 class="wp-block-heading">Venezuela Market Sparked Rules Fight Over &#8220;Invasion&#8221; Definition</h3>



Polymarket <a href="https://x.com/Domahhhh/status/2009653610905321558">ruled</a> that the U.S. did not invade Venezuela despite a military operation involving 150 aircraft from 20 bases that killed 100 people and extracted the country&#8217;s head of state.&nbsp;



The market resolution sparked backlash from traders who pointed to Polymarket&#8217;s own rules.



The platform&#8217;s rules stated the market would resolve &#8220;Yes&#8221; if the U.S. &#8220;commences a military offensive intended to establish control over any portion of Venezuela.&#8221;&nbsp;



Trump explicitly said in multiple interviews including The New York Times that &#8220;the United States now runs Venezuela&#8221; and would continue running the country for years.



The market initially spiked from 2.5 cents to over 50 cents as Trump kept talking, but Polymarket ruled &#8220;No,&#8221; claiming Trump equivocated on running Venezuela—a statement traders say the platform made up.



A prominent trader posted that Polymarket &#8220;decided their fine print rules are going in the trash&#8221; and resolved based on vibes rather than written criteria.&nbsp;



The ruling disproportionately benefited traders in Polymarket&#8217;s affiliate program.



<h3 class="wp-block-heading">Epstein Blackmail Market Resolved Opposite Direction</h3>



Two weeks earlier on Christmas Eve, Polymarket took the opposite approach.&nbsp;



The platform expired an Epstein blackmail market based on strict rule interpretation, resolving &#8220;Yes&#8221; based on a single email that never used the word &#8220;blackmail.&#8221;



The market traded at 4 cents when it was bought to 99 cents and proposed for &#8220;Yes&#8221; at 7:30 AM on December 24. Polymarket clarified at 2 PM that the document &#8220;detailed qualifying blackmail&#8221; despite zero news headlines reporting blackmail evidence was found.



The FBI has stated they haven&#8217;t found evidence of Epstein blackmailing.&nbsp;



Polymarket&#8217;s own rules required either &#8220;clear consensus of credible reporting&#8221; or a &#8220;direct statement,&#8221; neither of which existed.



The inconsistency is stark: Polymarket ignored fine print rules on Venezuela to resolve based on vibes, then strictly interpreted fine print on Epstein to find blackmail that no news organization or law enforcement official agrees with.



<h3 class="wp-block-heading">Why This Matters For Tariff Market Credibility</h3>



The Venezuela and Epstein controversies raise questions about whether Polymarket&#8217;s 25% odds on Trump&#8217;s <a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/49819039/trump-tariffs-allowed-to-stand-for-now-but-polymarket-traders-predict-only-25-chance-of-scotus-approval">tariffs</a> reflect genuine market sentiment or potential manipulation through selective rule enforcement.



The Supreme Court did not issue a ruling Friday on Trump&#8217;s tariffs, extending uncertainty over the administration&#8217;s use of emergency powers.&nbsp;



Traders betting on the tariff outcome face not just legal uncertainty but also platform resolution risk if Polymarket applies inconsistent standards to determine what constitutes a Trump victory or loss.



Image: Shutterstock

Polymarket 'Decided Their Fine Print Rules Are Going In The Trash' On Venezuela, Millionaire Trader Criticizes

Crypto markets have opened 2026 on a much stronger footing after months of weakness, with altcoins and meme coins rebounding and overall sentiment improving.



What Happened: According to Santiment <a href="https://x.com/santimentfeed/status/2009485951530107258">data</a>, improving retail sentiment across major crypto assets is being driven less by hype cycles and more by macro forces, ETF flows, and positioning dynamics.



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>, up around 3% on the week, is increasingly behaving like a macro asset. 



Price action is now closely tied to spot ETF flows, U.S. economic data, and interest rate expectations rather than crypto-native narratives. 



While selling pressure has eased and sentiment has improved, $90,000 remains a key psychological level. 



Santiment notes that a deeper pullback into the mid-to-high $80,000s could briefly reignite retail fear, potentially setting up a stronger move later in the year.



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>, up roughly 3.7%, is seeing growing interest in staking through regulated products, but sentiment remains fragmented. ETH continues to lack a dominant narrative or clear momentum breakout, keeping optimism muted despite relative strength.



XRP <a href="https://www.benzinga.com/quote/XRP-USD" target="_blank" class="ticker-link" data-ticker="XRP" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</a> surged nearly 14% early in 2026, fuelled by escrow-related supply dynamics and concentrated trader attention. However, Santiment notes that optimism turned premature as dip buyers underestimated the correction. A revisit toward the $2.00 level could reignite fear, uncertainty, and doubt among retail traders.



Binance Coin <a href="https://www.benzinga.com/quote/BNB-USD" target="_blank" class="ticker-link" data-ticker="BNB" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>)</a> up about 3.5%, has benefited from improving regulatory clarity following Binance's transition to Abu Dhabi Global Market oversight and a steady post-holiday recovery. Santiment suggests meaningful retail excitement may only return if BNB approaches the $1,000 level again.



Solana <a class="ticker-link" data-ticker="SOL" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/SOL-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</a> gained nearly 10% on the week as renewed institutional interest reinforced its positioning beyond a purely retail-driven asset. 



Sentiment has turned sharply positive after SOL revisited the $140 level, with traders widely viewing $143 as a critical breakout zone that could unlock further upside if cleared.



Dogecoin <a class="ticker-link" data-ticker="DOGE" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/DOGE-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</a>, up more than 13% weekly, has reclaimed leadership in the meme-coin space. 



The rally has been supported by strong performance in the 21Shares 2x Long Dogecoin ETF, which has delivered approximately 38%–39% gains in the opening days of 2026. 



After sentiment bottomed out at the start of the year, DOGE's rebound has sharply punished December panic sellers.



Why It Matters: Santiment points out that retail sentiment remains a key contrarian signal, as crowd optimism or fear often precedes opposite price moves, while whales continue to operate quietly.



Recent sentiment anomalies have appeared, but as Bitcoin tests the $90,000 level and prices consolidate, shifts in crowd psychology are becoming more apparent across major assets.



Image: Shutterstock

3 Reasons Why Bitcoin, ETH, XRP Sentiment Is Turning Bullish In 2026

The U.S. Supreme Court did not issue a ruling Friday on President Donald Trump&#8217;s sweeping global tariffs, as traders price in a 75% chance that the Supreme Court ultimately rules in favor of Trump&#8217;s tariffs.



<h3 class="wp-block-heading">Polymarket Shows 25% Odds Trump Wins Tariff Case</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="595" src="https://editorial-assets.benzinga.com/wp-content/uploads/2026/01/09114809/image-125-1024x595.png" alt="" class="wp-image-1251723" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2026/01/09114809/image-125-1024x595.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2026/01/09114809/image-125-300x174.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2026/01/09114809/image-125-768x446.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2026/01/09114809/image-125.png 1456w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



The court has not <a href="https://www.reuters.com/legal/government/supreme-court-set-issue-rulings-trump-awaits-fate-tariffs-2026-01-09/">announced</a> when it will decide the case.



Trump invoked the International Emergency Economic Powers Act (IEEPA) to impose &#8220;reciprocal&#8221; tariffs on goods from nearly every foreign trading partner, citing trade deficits as a national emergency.



He used the same law for duties on China, Canada, and Mexico, citing fentanyl trafficking.



Trump imposed the duties by invoking a 1977 law meant for national emergencies, and lower courts ruled he exceeded his authority.&nbsp;



The administration appealed those rulings, setting up the current Supreme Court review.



<h3 class="wp-block-heading">$150B In Refunds At Stake For Major Companies</h3>



Company executives, customs brokers, and trade lawyers are bracing for a potential fight over $150 billion in refunds from the U.S. government for duties already paid if Trump loses.



Major companies that have <a href="https://www.reuters.com/business/autos-transportation/global-companies-that-have-sued-the-us-government-tariff-refunds-2026-01-09/">filed</a> lawsuits challenging the tariffs and seeking refunds include Costco Wholesale Corp. <a href="https://www.benzinga.com/quote/COST" target="_blank" class="ticker-link" data-ticker="COST" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/COST">COST</a>)</a>, Alcoa Corp. <a href="https://www.benzinga.com/quote/AA" target="_blank" class="ticker-link" data-ticker="AA" data-exchange="NYSE" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/AA">AA</a>)</a>, EssilorLuxottica SA <a href="https://www.benzinga.com/quote/EL" target="_blank" class="ticker-link" data-ticker="EL" data-exchange="NYSE" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/EL">EL</a>)</a>, Goodyear Tire &amp; Rubber Co. <a href="https://www.benzinga.com/quote/GT" target="_blank" class="ticker-link" data-ticker="GT" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GT">GT</a>)</a>, BorgWarner Inc. <a href="https://www.benzinga.com/quote/BWA" target="_blank" class="ticker-link" data-ticker="BWA" data-exchange="NYSE" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BWA">BWA</a>)</a>, GoPro Inc. <a href="https://www.benzinga.com/quote/GPRO" target="_blank" class="ticker-link" data-ticker="GPRO" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GPRO">GPRO</a>)</a>, and Revlon Inc.



Dole Fresh Fruit Company filed Jan. 2, seeking a declaration that IEEPA tariffs were unlawful, a full refund for all tariffs paid, and an injunction preventing future tariffs. 



J.Crew Group filed Jan. 6 seeking similar protections.



Toyota subsidiaries, Bumble Bee Foods, Kawasaki Motors Manufacturing, Yokohama Tire, and Yamazaki Mazak also filed protective suits to preserve refund rights.



<h3 class="wp-block-heading">Why Bitcoin Traders See Tariff Loss As Bullish</h3>



Crypto traders argue that striking down Trump&#8217;s tariffs would provide multiple catalysts 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 risk assets. 



Market clarity would <a href="https://x.com/kyledoops/status/2009543178911912239?s=20">improve</a> as $130 billion+ in annual tariff revenue faces legal challenge.



Cost pressures would ease for corporations, improving earnings outlooks.&nbsp;



The removal of tariff uncertainty would <a href="https://x.com/FefeDemeny/status/2009547662211584348?s=20">allow</a> risk-on capital flows to return to growth assets like Bitcoin and tech stocks.



Trump acknowledged the stakes, saying in a Jan. 2 social media post that a Supreme Court ruling against the tariffs would be a &#8220;terrible blow&#8221; to the United States. 



He has argued tariffs made the country stronger financially.



<h3 class="wp-block-heading">Partial Rollback More Likely Than Clean Outcome</h3>



Even if the court strikes down tariffs imposed under IEEPA, other duties imposed under different statutes would remain in force. Any rollback would likely be partial, slow, and messy rather than an immediate removal of all trade barriers.



The challenge marks a major test of presidential powers and the court&#8217;s willingness to check Trump&#8217;s far-reaching assertions of authority.&nbsp;



The outcome will impact the global economy beyond just Bitcoin price action.



Image: Shutterstock

Trump Tariffs Allowed To Stand For Now, But Polymarket Traders Predict Only 25% Chance Of SCOTUS Approval

President Donald Trump told The New York Times he will not pardon former FTX CEO Sam Bankman-Fried, who is serving 25 years for fraud and conspiracy, despite granting clemency to other crypto figures including Binance founder Changpeng &#8220;CZ&#8221; Zhao and Ross Ulbricht.



<h3 class="wp-block-heading">SBF&#8217;s Parents Lobbied Trump&#8217;s Orbit Without Success</h3>



Bankman-Fried&#8217;s parents, former Stanford Law School professors Barbara Fried and Joseph Bankman, <a href="https://www.nytimes.com/live/2026/01/08/us/trump-nyt-interview?campaign_id=190&amp;emc=edit_ufn_20260108&amp;instance_id=168996&amp;nl=from-the-times&amp;regi_id=259385888&amp;segment_id=213375&amp;user_id=ba4f88c24731247af4d2d75cbbbba1e1#trump-family-foreign-business-deals">reportedly</a> met with lawyers and others in Trump&#8217;s orbit attempting to secure a pardon.&nbsp;



The lobbying campaign failed to sway Trump, who is a major political backer of the 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 digital assets entrepreneur.



SBF conducted a Republican-friendly media rehabilitation tour in recent months and repeatedly praised Trump&#8217;s pardon of former Honduran president Juan Orlando Hernández for cocaine importation.&nbsp;



However, the strategy didn&#8217;t work.



Bankman-Fried donated $5.2 million to the Biden campaign in 2020, potentially creating political complications for a Trump pardon. 



He&#8217;s currently appealing his conviction and is housed at Metropolitan Detention Center in Brooklyn, reportedly in the same dormitory as rapper Sean &#8220;Diddy&#8221; Combs, who also won&#8217;t receive clemency.



<h3 class="wp-block-heading">Trump Pardoned Three Other Major Crypto Figures</h3>



Trump&#8217;s refusal to pardon SBF stands in sharp contrast to his clemency for other crypto industry figures.&nbsp;



In January 2025, Trump <a href="https://www.benzinga.com/crypto/cryptocurrency/26/01/49668012/trump-pardoned-3-crypto-felons-in-10-months-heres-what-each-one-cost">freed</a> Ross Ulbricht, Silk Road&#8217;s founder who served over a decade for facilitating $1 billion in illegal drug transactions.



In March, Trump pardoned BitMEX co-founders Arthur Hayes, Benjamin Delo, Samuel Reed, and Gregory Dwyer, who violated anti-money laundering laws.



The most controversial pardon came in October when Trump freed Binance founder CZ, who had pleaded guilty to enabling money laundering and paid $50 million in fines.&nbsp;



Critics including Congresswoman Maxine Waters (D-CA) and Senator Elizabeth Warren (D-mass.) alleged corruption, noting Binance invested $2 billion in Trump&#8217;s World Liberty Financial project <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>.



That investment potentially generates $48-52 million annually for Trump&#8217;s family.&nbsp;



Binance also spent $800,000 lobbying for clemency, though CZ denied any quid pro quo arrangement.



<h3 class="wp-block-heading">Why Trump Drew The Line At SBF</h3>



The distinction between SBF and the pardoned crypto figures appears to center on the nature of their crimes and political optics.&nbsp;



Ulbricht&#8217;s Silk Road case became a libertarian cause célèbre over harsh sentencing. The BitMEX founders faced regulatory violations rather than customer fraud.



CZ&#8217;s Binance case involved regulatory failures but not direct customer theft. SBF&#8217;s FTX collapse, by contrast, resulted in $8 billion in customer losses through fraud and misappropriation of funds.



Trump defended his pro-crypto stance in the Times interview, saying it helped him win votes and that he has &#8220;come to like crypto.&#8221;&nbsp;



The comment suggests Trump views the crypto industry as politically valuable, but won&#8217;t extend that support to figures convicted of stealing customer money.



The SBF rejection also avoids the appearance of pardoning someone who donated millions to Democrats, which could create backlash among Trump&#8217;s base despite SBF&#8217;s recent Republican outreach.



Image: Shutterstock

Trump Pardoned Ross Ulbricht And Changpeng Zhao, But Won't Touch SBF — Here's Why

Pudgy Penguins <a class="ticker-link" data-ticker="PENGU" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/PENGU-USD" target="_blank" rel="noopener">(CRYPTO: PENGU)</a> jumped 19% over the past week, outperforming meme coin peers such as Dogecoin <a class="ticker-link" data-ticker="DOGE" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/DOGE-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</a> and Shiba Inu <a class="ticker-link" data-ticker="SHIB" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/SHIB-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</a>.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td><td>Market Cap</td><td>7-Day Trend</td></tr><tr><td>Pudgy Penguins</td><td>(CRYPTO: PENGU)</td><td>$0.01201</td><td>$755 million</td><td>+18.8%</td></tr><tr><td>Dogecoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1390</td><td>$23.4 billion</td><td>+5.9%</td></tr><tr><td>Shiba Inu</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.058705</td><td>$5.12 billion</td><td>+12.3%</td></tr></tbody></table></figure>



Trader Notes: Altcoin Sherpa <a href="https://x.com/AltcoinSherpa/status/2009171114136584212">described</a> PENGU as a "promising reversal setup," pointing to an inverted head-and-shoulders pattern forming at higher-time-frame support. 



The trader said the move may require patience but views the potential rebound as one of the higher-priority trade setups this year.



MacroCRG <a href="https://x.com/MacroCRG/status/2009246813006504428">said</a> PENGU is trading at a solid level and confirmed he has started buying at current prices, with plans to add more if the token pulls back toward the $0.0112 area.



Kook Capital <a href="https://x.com/KookCapitalLLC/status/2008615129928396947">noted</a> that Pudgy Penguins dominated the brand and IP narrative last year and led the meme category. 



He added that the lows appear to be in, the breakout has begun, and PENGU could push beyond its all-time high. "2026 is the year of the penguin," he said, calling it one of the easiest holds outside of Bitcoin.



Statistics: PENGU is trading at an estimated 16.6-times revenue multiple based on roughly $50 million in Walmart sales, trader aixbt <a href="https://x.com/aixbt_agent/status/2008511626451054680">stated</a>. 



By comparison, Build-A-Bear generates about $500 million in annual revenue and trades at roughly a 0.6-times multiple.



The disparity suggests PENGU could face a sharp repricing if investors reassess the valuation implied by its token price.



Community News: Crypto investor Conor Kenny <a href="https://x.com/conorfkenny/status/2009264664929022073">said</a> the U.S. Securities and Exchange Commission has delayed a decision on Canary Capital's proposed PENGU ETF, a hybrid fund that would hold both PENGU tokens and Pudgy Penguins NFTs. 



Regulators are seeking more time to evaluate how NFT-based assets should be valued and custodied.



Image: Shutterstock

Pudgy Penguins Spikes 19% In A Week: Why Do DOGE, SHIB Lag Behind?

Stablecoins became the backbone of crypto long before most people noticed. By 2025, they were quietly moving more value on-chain than Bitcoin &nbsp;<a href="https://www.benzinga.com/quote/BTC-USD">(CRYPTO:BTC</a>) and Ethereum (<a href="https://www.benzinga.com/quote/ETH-USD">CRYPTO:ETH</a>) combined, while powering trading, lending, and payments across DeFi. Regulators are only now catching up. As U.S. lawmakers move closer to a unified framework often grouped under proposals referred to as the "GENIUS Act," the rules governing stablecoins are starting to solidify.



For investors, this shift is not a minor regulatory detail. Stablecoin rules will directly influence DeFi liquidity, protocol revenues, and which assets remain usable across major platforms. The debate is no longer about if regulation is coming. It is about what happens to capital flows once those rules are in place.



<h2 class="wp-block-heading">Why Stablecoins Matter More Than Most Investors Realize</h2>



Stablecoins are not just convenient trading pairs. They function as the base currency of DeFi. Loans are priced in stablecoins, trades are settled through them, and most yield strategies depend on them to move capital efficiently. When stablecoin liquidity grows, DeFi activity follows. When it shrinks, activity slows almost immediately.



By late 2025, stablecoins were processing trillions of dollars in annual on-chain volume. Ethereum remained the primary settlement layer for that activity, even as transactions increasingly shifted to Layer 2 networks. This flow supports demand for ETH as collateral and settlement infrastructure, regardless of short-term fee levels.



This is why stablecoin regulation has more impact on DeFi than price volatility ever did.



<h2 class="wp-block-heading">What U.S. Regulation Is Actually Targeting</h2>



Despite alarming headlines, most U.S. stablecoin proposals focus on issuers rather than decentralized protocols. Draft frameworks debated through 2024 and 2025 generally revolve around three ideas:



<ul class="wp-block-list">
<li>Full reserve backing with cash or short-term Treasuries</li>



<li>Regular audits and transparent disclosures</li>



<li>Clear licensing and supervisory oversight</li>
</ul>



The goal is to prevent another Terra-style collapse while making stablecoins usable inside traditional finance. These rules do not directly regulate DeFi protocols, but they strongly shape which stablecoins those protocols can safely rely on.



For issuers like Circle, whose USDC already follows many of these standards, the transition is manageable. For algorithmic or lightly backed stablecoins, it could threaten their survival.



<h2 class="wp-block-heading">A Split Between "Compliant" And "Peripheral" Liquidity</h2>



Regulation is already dividing stablecoin liquidity. In Europe, the EU's Markets in Crypto-Assets framework forced exchanges to restrict or delist stablecoins that failed to meet reserve and governance standards. Liquidity fractured across regions, and compliant issuers gained an advantage.



The U.S. is likely to move in the same direction. If federal rules define which stablecoins banks, brokers, and custodians can interact with, DeFi protocols will face a clear choice. Either adapt to compliant liquidity or accept shrinking access to capital. Institutional money does not operate in legal gray zones.



<h2 class="wp-block-heading">How DeFi Protocols Are Being Forced To Adapt</h2>



DeFi platforms are already adjusting, mostly without much fanfare. Many protocols now prioritize USDC over USDT in key liquidity pools, even when yields are slightly lower. Some are diversifying treasury holdings to reduce dependence on single issuers. Others are experimenting with native stablecoins backed by short-term government debt.



Compliance, however, comes with tradeoffs. Audits, redemption rules, and oversight introduce friction into systems designed for speed and flexibility. Yield opportunities narrow as capital becomes safer but less adaptable.



This tension is unavoidable. DeFi cannot scale using institutional capital without adopting institutional constraints.



<h2 class="wp-block-heading">Ethereum's Role As The Settlement Layer Remains Central</h2>



Despite fragmentation, Ethereum continues to benefit. Most regulated stablecoins still settle on Ethereum, even when execution happens on Layer 2 networks. That keeps Ethereum positioned as the neutral settlement layer for compliant on-chain finance, supporting long-term demand for ETH even as fees remain subdued.



For investors, this is more important than daily gas metrics. Stablecoin settlement reinforces Ethereum's role as infrastructure, even if value capture becomes less direct. This dynamic increasingly shows up in how ETH trades relative to the broader crypto market.



<h2 class="wp-block-heading">Winners And Losers Emerging In Public Markets</h2>



Public companies are also being affected. Coinbase, which has leaned heavily into compliant stablecoin infrastructure and custody, is positioned to benefit if regulated flows accelerate. Stablecoin settlement and on-chain services are becoming more central to its business, a shift reflected in COIN's trading behavior.



Payment companies experimenting with stablecoins, including PayPal, also stand to gain from regulatory clarity. Clear rules allow these firms to integrate stablecoins into mainstream payment systems without reputational risk. Investors following this theme often track PYPL alongside crypto-native names.



Projects tied to opaque or weakly backed stablecoins face the opposite outcome: declining relevance.



<h2 class="wp-block-heading">Liquidity Will Not Disappear, But It Will Move</h2>



A common mistake is assuming regulation will drain liquidity from DeFi. History suggests otherwise. Capital rarely disappears when rules change. It relocates.



In this case, that likely means fewer stablecoins, deeper liquidity around compliant assets, and tighter connections between DeFi and traditional finance. This also helps explain why Bitcoin, which does not depend on stablecoin mechanics in the same way, continues to attract institutional capital through regulated vehicles like ETFs.



<h2 class="wp-block-heading">The Tradeoff DeFi Cannot Escape</h2>



Stablecoin regulation forces DeFi to confront a basic reality. Permissionless systems are excellent at innovation, but large pools of capital require predictability. Regulation reduces extreme risk, while also limiting upside from inefficiencies.



For users, that means safer but less dramatic yields. For protocols, slower growth paired with greater durability. For investors, it changes how DeFi should be valued. Liquidity becomes more stable, but less speculative.



<h2 class="wp-block-heading">What Investors Should Watch In 2026</h2>



Several indicators matter more than political headlines.



Watch which stablecoins dominate total value locked across major protocols. Track how often regulated institutions interact directly with on-chain systems rather than relying on intermediaries. Pay closer attention to Ethereum's settlement and data revenues instead of raw transaction counts.



Finally, monitor how quickly regulatory clarity spreads internationally. Fragmentation persists as long as rules differ across regions.



<h2 class="wp-block-heading">The Bottom Line For Investors</h2>



Stablecoin regulation does not signal the end of DeFi. It marks the end of DeFi operating outside the regulatory system. Liquidity will concentrate around fewer assets, protocols will become more conservative, and speculative yield will give way to infrastructure-driven returns. That favors durability over experimentation.



For investors, the takeaway is simple:



<ul class="wp-block-list">
<li>Expect lower risk, lower yields, and greater institutional participation</li>



<li>Treat DeFi exposure as infrastructure, not a lottery ticket</li>



<li>Focus on assets and platforms that benefit from compliant liquidity</li>
</ul>



The next phase of DeFi will not be defined by resisting regulation, but by adapting to it. The protocols that survive this shift are likely to matter far longer than those that thrived during chaos.



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.

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