Last night's and this morning's important news (January 8 - January 9)

Zcash core team establishes new company to launch “cashZ” wallet to promote ecosystem expansion

Former Electric Coin Company core member Josh Swihart announced that his team has left ECC and founded a new startup aimed at expanding Zcash to billions of users. The new company will launch a new wallet “cashZ” built on the Zashi codebase, now open for early access applications (cashz.org). Swihart emphasized that privacy should be the norm in the digital world, and Zcash needs an organizational structure with a “cyberpunk spirit” and scalable governance mechanisms to counteract mass surveillance trends and achieve true global adoption.

AI data platform Protege completes $30 million Series A extension funding led by a16z

AI data platform Protege announced the completion of a $30 million Series A extension funding led by a16z, bringing total funding to $65 million. Other investors include Footwork, CRV, Bloomberg Beta, Flex Capital, Shaper Capital, and others. Protege aggregates real-world data across healthcare, media, audio, and other fields through licensing, and performs cleaning and formatting optimization to support high-quality AI training data. Its partners include most of the “AI Big Seven.” The funds will be used to expand in the data field, deepen institutional cooperation, and develop platform products.

Polygon nears completion of acquisition of Bitcoin ATM company Coinme, transaction expected to be between $100 million and $125 million

According to CoinDesk, Ethereum scaling network Polygon is close to completing the acquisition of Bitcoin ATM provider Coinme, with a transaction value estimated between $100 million and $125 million. Coinme operates Bitcoin vending kiosks (ATMs) and related services.

Bitmine stakes over one million ETH, accounting for a quarter of its total holdings

According to Yu Jin, Bitmine has staked over 1.032 million ETH (about $321.5 million) via Ethereum’s PoS mechanism, which is a quarter of its total holdings of 4.143 million ETH. As a result, ETH waiting to be staked has accumulated to 1.778 million, while the exit queue has been cleared.

Cambodian central bank orders Prince Bank to suspend all new business and entrusts audit firm for custodial liquidation

According to Phnom Penh Post, due to the multi-country crypto scam involving founder Chen Zhi, the National Bank of Cambodia (NBC) has suspended all new business at Prince Bank and has entrusted Morisonkak MKA audit firm to oversee custodial liquidation of its operations and assets. Depositors can withdraw funds normally according to regulations, and borrowers must continue repaying loans.

Truebit suffers security breach, over 8,500 ETH stolen

According to Truebit official and Lookonchain, Truebit protocol recently experienced a security incident, with its smart contract (address: 0x764C64b2A09b09Acb100B80d8c505Aa6a0302EF2) maliciously attacked, resulting in the theft of 8,535 ETH (about $26.44 million). Truebit has advised users to avoid interacting with this contract and is cooperating with law enforcement agencies for investigation. The team will continue to release updates through official channels.

Wall Street and crypto industry hold private discussions on market structure bill “making progress”

According to Decrypt, major Wall Street trade organization SIFMA and representatives from DeFi and crypto sectors held private meetings to discuss disagreements over the Senate’s Market Structure Bill, especially making “progress” on DeFi regulation clauses. SIFMA expressed objections to certain decentralized financial services and their developer exemptions, and industry efforts are underway to persuade it to adjust its stance. The bill faces a key Senate vote next week, with both sides pushing for a compromise under tight timelines.

Trump states he has decided on Federal Reserve chair candidate

President Trump told The New York Times in an interview that he has decided whom to nominate as the next Fed chair but did not disclose the name. “I have a decision in mind,” he said, “but I haven’t spoken to anyone yet.” When asked about his chief economist Hasset, Trump said “I don’t want to say,” but added Hasset is “definitely one of my favorites.” Regardless of whom Trump chooses, the new Fed chair will take over an institution at a critical moment, amid unprecedented pressure from the president to cut rates sharply. Market predictor Kalshi shows a 41% chance of Kevin Waugh becoming Fed chair, 39% for Hasset, and 12% for Christopher Waller.

Trump confirms he will not pardon SBF

Former President Donald Trump stated in an interview that he has no intention of exercising presidential pardon power for former FTX CEO Sam Bankman-Fried (SBF), who was sentenced after FTX’s collapse. He also explicitly said he would not pardon other public figures mentioned by reporters, such as music producer Sean Combs (P. Diddy) and former Senator Robert Menendez. This statement effectively rules out the possibility of SBF receiving a presidential pardon, meaning his sentence and legal appeals will be decided by the courts.

Grayscale BNB ETF registered in Delaware

Grayscale officially registered a BNB-based ETF entity (Delaware statutory trust form) in Delaware, a key step toward future BNB ETF investment products. No specific issuance schedule or regulatory approval updates have been announced yet.

“Strategy Opposite” long position exceeds $200 million

Hyperbot data shows that after continuous rolling into positions, “Strategy Opposite” and whale “pension-usdt.eth” have increased their long positions to $205 million and $60.87 million respectively. “Strategy Opposite” currently holds long positions in BTC, ETH, SOL, XRP, XPL, and PUMP, while “pension-usdt.eth” holds ETH longs.

JPMorgan plans to launch digital wallet supporting tokenized assets this year

Market reports: JPMorgan plans to launch a digital wallet later this year to support tokenized assets.

JPMorgan: Recent crypto market sell-off may be nearing an end

According to CoinDesk, JPMorgan’s latest report states that the recent sell-off in crypto markets may be close to ending. Analyst Nikolaos Panigirtzoglou noted that outflows from Bitcoin and Ethereum ETFs began stabilizing in January, and futures market positioning indicators suggest that investor deleveraging by the end of 2025 is largely complete. JPMorgan believes market liquidity remains good, and the current adjustment was mainly triggered by de-risking due to MSCI’s October 2022 statement about possibly excluding crypto-related companies, rather than market pressure. MSCI recently decided not to exclude crypto-related companies in its February 2026 global index review, providing short-term relief and reducing forced selling risks associated with index changes.

Whale “pension-usdt.eth” opens new ETH long position worth about $12.63 million

Hyperbot data shows that after closing its ETH short position 7 hours ago, whale “pension-usdt.eth” opened a new 3x leveraged ETH long position a few minutes ago, with a total position size of about $12.63 million, entry price at $3,097.07, and mark price at $3,099.9.

“Strategy Opposite” turns bullish, new position size about $120 million

Hyperbot data indicates that “Strategy Opposite” has shifted from short to long, closing all related short positions across multiple tokens and opening new long positions in BTC, ETH, SOL, XRP, and XPL. After multiple rolling increases, the total position size is now about $120 million.

Bitmine stakes an additional 57,600 ETH, totaling approximately 965,792 ETH staked

According to OnchainLens, Bitmine further staked 57,600 ETH (worth $176.16 million). To date, they have staked a total of 965,792 ETH, valued at $2.97 billion.

Optimism proposes using 50% of Superchain revenue for OP token buybacks

Ethereum Layer 2 network Optimism announced a proposal to address funding allocation issues, aiming to tie the success of Superchain more closely to OP token. Starting from February this year, 50% of Superchain revenue will be used to buy back OP tokens. The Optimism Foundation will also adjust capital allocation to invest more effectively in Superchain and enhance OP token’s role within it.

“Strategy Opposite” has fully closed BTC, ETH, and other token-related short positions, with nearly $7.17 million profit in the past day

Hyperbot data shows that “Strategy Opposite” closed all its BTC, ETH, SOL, XRP, kBONK, SUI, and FARTCOIN shorts in the last 20 minutes, with perpetual contracts cleared. Its profit in the past day is about $7.17 million, and about $10.01 million in the past month. The address was established in December last year with a total of over $31.78 million. After opening positions, it added shorts on BTC, ETH, and other major coins, with BTC short positions once worth over $120 million, making it the largest on-chain BTC short position, comparable to a listed company that persistently buys BTC.

CZ: The Chinese version of memoir might be titled “Binance Life,” unrelated to Meme coins

CZ on X said: “I might name the Chinese version of my memoir ‘Binance Life.’ This has nothing to do with any Meme coin or related trading. But I do like Meme culture. Disclaimer: I do not hold any ‘Binance Life’ Meme coins, nor do I plan to. I also reserve all rights to the book title, and I might change my mind at the last minute. The book is expected to be released in 4 to 6 weeks, with both Chinese and English versions published simultaneously. I plan to self-publish because working with publishers takes too long. All proceeds from this book will be donated to charity.”

Trader Eugene: SOL performs best among the three major coins, re-entering buy zone

Trader Eugene posted on his personal channel that he is re-buying SOL, which he says is the best performer among the three major coins. From a technical analysis perspective, SOL is expected to fluctuate toward $160. If this rally continues and BTC reaches $100,000, SOL could rise to $200. He also added that when market consensus on long reasons has not yet formed, it’s the best time to enter, and he hopes BTC can hold the $90,000 level.

Binance report: Expectations of accelerated Fed rate cuts in 2026 favor Bitcoin, January may be turning point for bearish momentum

In Binance Research’s January crypto market report, it states that despite the Fed’s easing policy in December 2025, the crypto market continued to decline due to investor caution. However, as asset managers continued to increase holdings, Bitcoin and Ethereum’s market dominance grew. January may be a turning point for bearish momentum, as investors consider reallocating from overvalued assets back into crypto. In 2025, metals outperformed due to loose monetary policy, AI demand, and shifts toward “commodity control.” Although Bitcoin also benefited from macro factors, its performance in Q4 was mixed due to a lack of “strategic asset premium.” This may be temporary: as US legislation pushes to institutionalize strategic Bitcoin reserves and shift from holding seized assets to active fiscal procurement, Bitcoin’s valuation framework could realign with that of strategic metals. Market participants expect that in 2026, accelerated easing driven by tariffs, a fragile labor market, and dovish leadership will require higher long-term premiums to offset “fiscal dominance” and over $50 trillion in upcoming debt. Yield curve steepening indicates the market does not believe in a “soft landing” for the Fed, creating a great opportunity for Bitcoin to benefit from short-term liquidity inflows and long-term erosion of fiat credit. Since launch, most altcoin ETFs have attracted net inflows exceeding $2 billion, led by XRP and SOL, with other assets contributing smaller but steady inflows. In contrast, since October, Bitcoin and Ethereum spot ETFs have experienced continuous net outflows, highlighting demand divergence as market momentum slows. More altcoin ETFs approval and ongoing inflows could increasingly impact liquidity distribution, especially if broader market funds reaccelerate. In 2025, six new stablecoins with market caps over $1 billion will launch. As stablecoins continue to be adopted globally, their metrics are increasingly seen as important indicators of global financial activity.

U.S. initial jobless claims for the week ending January 3: 208,000, expected 210,000

According to Jinshi, U.S. initial jobless claims for the week ending January 3 were 208,000, expected 210,000, with the previous figure revised from 199,000 to 200,000.

Wintermute CEO: Only 4% project approval rate in 2025, bidding farewell to “scattergun investing”

Wintermute founder and CEO Evgeny Gaevoy posted on X: “We’ve moved from the scattergun investment approach of 2021–2022 to a 4% approval rate today. Wintermute Ventures completed 23 investments in 2025, mainly leading pre-seed and seed rounds. The investments are not for market-making (MM) licenses and are completely independent of trading operations.” Wintermute Ventures stated that in 2025, they reviewed about 600 companies, with 20% entering formal due diligence, and 4% receiving funding. The most common financing structures in 2025 are equity/SAFE and token warrants. They will match the most suitable financing and investment structures based on founders’ long-term visions for their projects.

Report: Illegal crypto address receiving $154 billion in 2025, up 162% month-over-month

According to The Block, Chainalysis’s new report shows that in 2025, illegal crypto addresses received a total of $154 billion (conservative estimate), a 162% increase from the previous year’s revised total, mainly driven by surges in activities related to sanctioned entities, including efforts to evade sanctions. Illegal share of total crypto transaction volume remains below 1%. Chainalysis notes that its methodology does not cover non-crypto native crimes, such as traditional drug trafficking paid solely with crypto, due to difficulty distinguishing such transactions from legitimate ones on-chain. The agency attributes most illegal activity in 2025 to a few countries, including North Korea, Russia, Iran-aligned networks, and a laundering group in Asia. North Korea hackers stole $2 billion; Russia’s A7A5 stablecoin, supported by rubles, accounts for a large share of state-related on-chain activity, with over $93.3 billion in transactions facilitated in its first year after February 2025 launch, subject to US and EU sanctions; Iran proxy networks facilitated over $2 billion in on-chain activity involving money laundering, illegal oil sales, and weapons procurement. Stablecoins accounted for 84% of all illegal transactions in 2025. Illegal crypto activities rely on a full suite of illicit infrastructure providers, with ransomware, scams, and state-linked actors all using such services. On-chain crime increasingly overlaps with violence, including human trafficking and coercive attacks, forcing victims to transfer crypto assets during active market periods.

Andre Cronje’s new project Flying Tulip now open for Intent Whitelist

Sonic co-founder Andre Cronje (AC) announced on X that his new project Flying Tulip has launched its Intent Whitelist, but he emphasized that no fund transfers are involved at this stage, and future updates will be announced solely through Flying Tulip’s official channels. According to prior disclosures, the public sale will be conducted in four rounds: Early Access, Supporter Whitelist, Intent Whitelist, and Open Public, with identical fundraising terms each round. Last September, Flying Tulip completed a $200 million seed round at a $1 billion valuation.

Analysis: “1011” crash forced market makers to hold large token positions, liquidity at lowest since 2022

According to CoinDesk, BitMEX’s latest report states that the crash on October 11, 2025, impacted market makers, forcing them to hold large amounts of crypto. The crash caused about $20 billion in liquidations, severely damaging market makers’ neutral strategies and dropping market liquidity to the lowest since 2022. BitMEX explained: “When the ADL (auto-deleveraging) mechanism is triggered and market makers’ hedge short positions are forcibly liquidated, these institutions, in a rapidly falling market, are forced to hold unhedged spot positions. This breaks the promise of perpetual contract ‘neutral strategies,’ leading market makers to withdraw liquidity globally in Q4 2025, causing order book liquidity to hit its lowest since 2022.” As many imitators entered, delta-neutral “easy profit” strategies relying on funding rate arbitrage shrank significantly, with annualized returns falling below 4%. Meanwhile, B-book platforms captured substantial profits, and DeFi perpetual markets remain susceptible to manipulation, while traditional financial perpetual markets experienced explosive growth.

Upbit hacker continues transferring funds to Tornado Cash, 1,400 ETH moved so far

According to MistTrack, the hacker behind the Upbit attack (which caused about $36 million in losses) is continuously transferring funds to Tornado Cash (address starting with 0x93A0). To date, 1,400 ETH have been moved.

21Shares to distribute staking rewards to Ethereum ETF holders, $0.010378 per share

According to Globenewswire, institutional digital asset broker FalconX’s subsidiary 21Shares announced it will distribute staking rewards earned from ETH to holders of its Ethereum ETF (TETH). Each TETH share will receive $0.010378, with distribution scheduled for January 9, 2026. Previously, Grayscale also announced it would distribute Ethereum staking rewards to ETHE holders, at $0.083178 per share.

BlackRock deposits 2,164 BTC and 22,902 ETH into Coinbase Prime

According to Onchain Lens, BlackRock deposited 2,164 BTC (worth $195.12 million) and 22,902 ETH (worth $71.43 million) into Coinbase Prime, possibly more. Update: As of 19:29 today, BlackRock has deposited 2,390 BTC and 27,700 ETH into Coinbase Prime.

ZEC drops over 18% intraday, support agency ECC team collectively resigns

Ouyi OKX data shows ZEC is currently trading at $393.95, down 18.37% intraday. The price once dropped to $381.4 earlier today. Previously, it was reported that Zcash’s supporting organization ECC team collectively resigned and formed a new company to continue the mission of privacy coins.

Zerion’s incubated L2 network Zero Network has been offline for over 3 weeks

Crypto influencer @_cryptoanalyst posted on X that the L2 network Zero Network, incubated by Web3 wallet company Zerion which raised $22.5 million, has been offline for over 3 weeks. Upon investigation, Zero Network announced on December 31, 2025, that it planned to resume operations in mid-January.