Former SEC Chair Gary Gensler steps down following backlash over crypto enforcement policies, as the US Third Circuit Court rules against the SEC in the Coinbase lawsuit. Pro-XRP lawyer John Deaton criticized Gensler for damaging the SEC’s reputation and demanded reforms under new Chair Paul Atkins, potentially aligning with Trump-era policies. Deaton called for abolishing the accreditor investor rule, labeling it oppressive and inconsistent with free market principles, urging clarity in crypto regulations.
A BlackRock study reveals global crypto adoption reached 300M users in 12 years—43% faster than mobile phones and 20% faster than the internet. Demographic trends, particularly "digital natives," drive adoption, with Gen Z and Millennials leading the way. Empower's poll shows 34% of Gen Z prefer crypto over cash, while Stilt reports buyers under 40 account for 94% of the market. Millennials outnumber Gen X by 15.5 times, highlighting crypto's dominance among younger generations.
Swiss digital asset bank Sygnum secured $58 million in an oversubscribed Strategic Growth Round, elevating its valuation beyond $1 billion. Announced on Jan. 14, the funding round was led by Bitcoin-focused Fulgur Ventures, with contributions from new and existing investors and Sygnum team members. CEO Mathias Imbach hailed the milestone as validation of the bank’s business model and strategy. The funds will drive Sygnum’s regional expansion and growth in the digital asset sector.
Former Thai Prime Minister Thaksin Shinawatra has advocated for legalizing online gambling and adopting stablecoins to boost Thailand’s revenue and innovation. Highlighting $4 billion in lost tax revenue from illegal gambling, Thaksin urged regulators to act swiftly. His comments came after Thailand’s cabinet approved the Entertainment Complex Business Act to legalize casinos and curb underground gambling. He emphasized the safety of stablecoins backed by tangible assets, urging policymakers to embrace this financial innovation.
As of January 13, Bitcoin and Ethereum ETFs saw significant net outflows, reflecting recent market challenges. Ethereum ETFs recorded a $39.43 million outflow, with BlackRock's ETHA securing $12.89 million in inflows, partially offsetting losses. Grayscale ETFs faced steep outflows, including $14.49 million (ETHE) and $37.84 million (ETH). Total Ethereum ETF assets stand at $10.87 billion (2.92% of Ethereum's market cap), with $2.41 billion in cumulative inflows. Ethereum's price surged 0.44% intraday to $3,185.40.