Gate Daily (January 28): Tether launches regulated stablecoin USA₮; Trump denies the dollar has fallen too much

Bitcoin (BTC) short-term strong rebound, currently around $89,450 as of January 28. Digital asset industry giant Tether officially announces the launch of USA₮, a stablecoin regulated by the US federal government and backed by US dollars. US officials are reviewing the funding sources of the Maduro regime, including whether related assets involve physical commodities or digital assets. Trump denies that the dollar has fallen too much, triggering a sharp decline in the US dollar index.

Macro Events & Crypto Hotspots

1. Digital asset industry giant Tether announces the launch of USA₮, a stablecoin regulated by the US federal government and backed by US dollars, developed specifically to operate within the new federal stablecoin framework established under the GENIUS Act. The issuer of USA₮ is Anchorage Digital Bank, NA, the first federally regulated stablecoin issuer in the US.

2. US officials are reviewing the funding sources of the Maduro regime, including whether related assets involve physical commodities or digital assets. Patrick Witt, Executive Director of the White House Digital Asset Advisory Committee, stated that multiple personnel within the national security system are involved and investigating this issue.

3. US President Trump stated he does not believe the dollar has “fallen too much,” and claimed the dollar is “performing very well,” with exchange rates naturally fluctuating. However, market reactions to his comments have been intense. Trump told reporters in Iowa that when asked about the dollar weakening and dragging the world’s most important reserve currency to a nearly four-year low, he responded: “No, I think it’s great… look at the business we do, the dollar is performing very well.” He also added that he hopes the dollar “returns to its proper level,” calling it a “fair approach.” At the time of his statement, the Bloomberg US Dollar Spot Index recorded its steepest four-day decline since the broad tariff plan was launched in April last year.

News Highlights

1. Bitwise: With the CLARITY Act stalled in Congress, the crypto industry faces a critical crossroads.

2. Huang Licheng deposits another 225,000 USDC into Hyperliquid, increases ETH long positions, and opens new HYPE long positions.

3. PayPal investigation: Major companies leading the adoption of cryptocurrency payments.

4. Analysis: Nick Shirley token case highlights the surge driven by Zora on Base and the “vanity indicator” problem.

5. SoftBank is negotiating to invest up to $30 billion more in OpenAI.

6. A large ETH whale has sold for the first time since building a position on January 12, offloading 10,000 stETH.

7. Nifty Gateway promises to permanently custody NFTs after closure, with withdrawal window extended to April 23.

8. Moonbirds announces BIRB tokenomics: community allocation accounts for 65%.

9. Arthur Hayes: If the Federal Reserve expands its balance sheet to intervene in the yen and Japanese government bonds, it will benefit risk assets like Bitcoin.

Market Trends

1. Latest Bitcoin news: $BTC short-term strong rebound, currently around $89,450, with $86.36 million in liquidation over the past 24 hours, mainly short liquidations.

2. US stocks showed polarized movements on Tuesday, just before the big tech earnings reports, with market optimism offsetting the decline in insurance stocks. The S&P 500 index rose for five consecutive trading days, hitting a new closing high for the fourth time since 2026, just one step away from the 7,000 mark. The Dow Jones Industrial Average fell 408.99 points, down 0.8%, closing at 49,003.41. The S&P 500 increased by 28.37 points, up 0.4%, closing at 6,978.60. Tech stocks remained strong, with the Nasdaq Composite rising 215.74 points, up 0.9%, closing at 23,817.10.

(Source: Gate)

3. Gate BTC/USDT liquidation map indicates that at the current price of 89,199.10 USDT, if the price drops to around $87,315, the total long liquidation exceeds $456 million; if it rises to around $89,979, the total short liquidation exceeds $285 million. Short liquidations are significantly lower than longs, suggesting reasonable leverage control to avoid triggering large-scale liquidations during market fluctuations.

(Source: Coinglass)

4. In the past 24 hours, spot inflow of $1.71 billion and outflow of $1.65 billion for BTC, net inflow of $0.6 billion.

(Source: Coinglass)

5. In the past 24 hours, net outflows in contracts trading for $ETH, $BTC, $HYPE, $SOL, $ZEC, among others, indicating trading opportunities.

X KOL Selected Insights

Phyrex Ni (@Phyrex_Ni): “The market was quite stable on Tuesday, with US stocks and cryptocurrencies maintaining a slight oscillation trend. The three bearish factors mentioned last weekend, including Canada’s tariffs, seem to be over, and the impact of yen exchange rate interference is minimal. The probability of a shutdown remains around 77%. Although there is no impact yet, if a shutdown occurs next week, it will depend on whether it is a full or partial shutdown. Based on current budgets, partial shutdown seems more likely with limited impact.”

“The Federal Reserve’s interest rate decision is scheduled for Thursday early morning. Personally, I think the significance of the meetings until June is diminishing. Even if Powell remains as a board member, he will inevitably step down as Chair, meaning the next three meetings will be Powell’s last as Chair. Therefore, Powell’s attitude and effectiveness are quite limited, and even the March dot plot seems less meaningful.”

“Of course, Powell is likely to stick to the ‘three pillars’—maintaining 2%—based on data, without expectations. January has almost certainly confirmed no rate change, and I believe if Powell shows a hawkish stance, Trump might directly announce a candidate for Fed Chair to ease market anxiety.”

“Looking at Bitcoin data, turnover rate isn’t very high, probably because investors are waiting for the interest rate decision and the shutdown outcome next week. But from the US market trend, the S&P 500 hit a new all-time high today, and as analyzed many times, a large amount of capital is flowing into US stocks. So, the trend of US stocks remains stable, and since BTC has some correlation with US stocks, it shouldn’t perform too badly.”

“From the perspective of chip structure, it remains very stable. Recently, turnover rates haven’t been high, and early investors haven’t changed their positions for a long time. Not to mention whether we’re entering a bull market, but at least there’s no sign of a bear market now. Investor sentiment shows no panic, even among losing investors, who are very healthy.”

Today’s Outlook

1. Canada overnight target interest rate, previous value 2.25%

2. US EIA crude oil inventory change last week (10,000 barrels), previous value 360.2

3. Bank of Canada announces interest rate decision and monetary policy report

4. Bank of Canada Governor Macklem and Senior Deputy Governor Rogers hold a monetary policy press conference