24H Hot Tokens and Key News｜Genius Pauses Dynamic Points Distribution; Unexpected Turn in Fed Chair Battle (January 19)
- Core View: The market shows a broad decline, with mainstream cryptocurrency prices generally pulling back. Regulatory policy uncertainty, project anti-sybil measures, and institutional expectations for infrastructure integration have become the current industry focus.
- Key Elements:
- Broad Market Decline: Major tokens such as BTC, ETH, and SOL all fell over 2% in 24 hours, with SUI dropping 10.61%, indicating short-term market pressure.
- Regulatory Progress in Focus: An a16z partner called for accelerating the U.S. CLARITY Act, while Galaxy's Head of Research pointed out that stablecoin yield issues have become a key sticking point in the bill's negotiations.
- Projects Strengthen Governance: Solana Mobile announced it will identify and remove sybil addresses to ensure the fairness of its SKR token distribution.
- Institutions Bullish on Integration Trend: Fidelity Digital Assets believes Wall Street's consolidation will drive cryptocurrency into a new phase, with institutional adoption expanding.
- Technical Development Sparks Reflection: Vitalik Buterin emphasized the need to introduce simplification mechanisms in Ethereum protocol development to prevent the protocol from becoming overly complex and harming long-term autonomy.
- Financing Activities Continue: Fintech group WeLab completed a $220 million Series D strategic financing round, showing continued investment from traditional financial capital in related fields.
1. Popular Tokens on CEXs
Top 10 CEX Trading Volume and 24-hour Price Changes:
- BTC: -2.40%
- ETH: -2.52%
- SOL: -6.21%
- XRP: -5.29%
- BNB: -2.69%
- DOGE: -7.76%
- DASH: +9.66%
- SUI: -10.61%
- ADA: -7.89%
- TRX: -0.47%
24-hour Top Gainers (Data Source: OKX):
- VRA: +20.16%
- ME: +10.49%
- DASH: +6.62%
- IP: +5.94%
- BERA: +5.92%
- BARD: +4.19%
- GEAR: +3.77%
- MERL: +2.80%
- ACH: +2.01%
- LEO: +1.91%
24-hour Top Gainers in Crypto Equities (Data Source: msx.com):
- Bitcoin Origin - MSX (BTOG.M): 8.46%
- STKE - MSX (STKE.M): 4.31%
- Verb Technology Company, Inc. - MSX (VERB.M): 4.18%
- Greenidge Generation Holdings Inc. - MSX (GREE.M): 3.92%
- Hyperion Defi, Inc - MSX (HYPD.M): 2.15%
- Sui Group Holdings Limited - MSX (SUIG.M): 2.13%
- A-Mark Precious Metals, Inc. - MSX (AMRK.M): 1.88%
- Redwire Corporation - MSX (RDW.M): 1.79%
- Quantum Biopharma Ltd. - MSX (QNTM.M): 1.70%
- Global X Uranium ETF - MSX (URA.M): 1.56%
2. Trending On-chain Memes (Data Source: GMGN):
- 1;
- BIG DON;
- Air Coin.
Top Headlines
Genius to Suspend Dynamic Points Distribution, Plans to Shift to Retroactive Points Mechanism
Genius announced that starting from 19:30 EST on Saturday, January 17, 2026, the distribution of Genius dynamic points will be suspended. The platform will transition to a retroactive points system, with specific rules to be announced soon.
Genius stated that points earned by users through trading will remain in their accounts, but referral points abused by bot farms will not be retained. The first round of the retroactive points campaign will begin on January 19 at 16:00 (EST). Additionally, Genius confirmed that its airdrop whitepaper will be officially released on January 18.
Fed Chair Race Sees Sudden Shift: Hassett Hints at Exit, Warsh's Odds Surge
White House economic adviser Kevin Hassett indicated that Trump is likely to keep him in his current position, which would take him out of the running for the next Federal Reserve Chair.
Last week, Trump expressed reservations about nominating Hassett to replace current Fed Chair Jerome Powell. During an event at the White House, he told the National Economic Council director, "To be honest, I actually want you to stay in your current position." Hassett was once considered among the top contenders alongside Fed Governor Christopher Waller, former Governor Kevin Warsh, and BlackRock executive Rick Rieder. According to informed sources, it is currently seen as a four-person race, with Rieder's candidacy gaining belated momentum recently as some believe he might have a better chance of Senate confirmation.
BTC Briefly Falls Below 92,000 USDT, Down 3.27% in 24H
OKX market data shows BTC briefly fell below 92,000 USDT, down 3.27% in 24 hours.
Trump Announces Tariffs on 8 European Countries Over Greenland Issue
Trump posted on Truth Social that due to issues related to Greenland, starting February 1 this year, the US will impose a 10% tariff on all goods exported to the US from Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland, with plans to raise the rate to 25% on June 1. These tariff measures will remain in effect until an agreement on the "complete and thorough purchase of Greenland" is reached.
Industry News
Michael Saylor Posts Bitcoin Tracker Info Again, Hinting at Further BTC Accumulation
Michael Saylor posted Bitcoin Tracker information again on the X platform, with accumulation data likely to be disclosed next week.
Vietnamese Police Arrest 5 Suspects in Crypto Scam Case Involving $532,800
Vietnamese police arrested five suspects operating a crypto scam ring in the Da Nang area. The group, based in Cambodia, conducted fraud through a fake investment platform mimicking Nasdaq, involving 14 billion Vietnamese dong, approximately $532,800. Police investigation revealed that Nguyen Van Chung went to Cambodia in early 2024 and colluded with a Chinese national, A Long, to organize the scam. The group posted fake trading information on Zalo and Telegram, luring victims to invest, and transferred funds through multiple bank accounts before converting them to cryptocurrency to conceal the source. Police have seized USBs containing scam scripts, phones, laptops, and over 5.2 billion Vietnamese dong in cash. The investigation is ongoing.
Project News
Solana Mobile Project Lead: Identified Sybil Addresses Will Be Removed from Initial SKR Distribution
Emmett, the project lead for Solana Mobile, posted on the X platform that prior to the SKR release, in addition to existing anti-Sybil measures, the team is actively identifying additional Seeker clusters. These allocations will be removed from the initial SKR distribution and returned to the future airdrop pool. The team did not disclose specific detection details, stating this move aims to ensure the fairness of the SKR distribution, directing it towards users and developers who drive platform growth.
Axie Infinity: bAXS Aims to Support Ecosystem's Long-term Sustainability by Rewarding Active Players
Axie Infinity posted on the X platform that bAXS is designed to foster the growth of the Axie Infinity ecosystem. This mechanism allows the project to reward active participants and ensure value generated within the digital nation stays within the community to support long-term sustainability. bAXS is not just a token but a foundational component for delivering value to genuine players.
Financing
WeLab Completes $220 Million Series D Strategic Financing Led by HSBC
Hong Kong fintech group WeLab announced the completion of a $220 million (approximately over HK$1.7 billion) Series D strategic financing round led by HSBC, with participation from Prudential Hong Kong, Fubon Bank (Hong Kong), Hong Kong Investment Corporation (HKIC), TOM Group, and Allianz Group. WeLab is one of Hong Kong's eight digital banks and a founding member of the Hong Kong Web3.0 Association. In 2023, it secured $260 million in asset financing from Citibank.
Social decentralized prediction market platform Slips announced the completion of a $3.5 million seed funding round led by Las Olas Capital and Sunset Bay Capital, with participation from Andrew Schwartzberg, co-owner of the NBA's Charlotte Hornets and Leeds United Football Club, among others. Slips offers AI-generated P2P prediction markets and location-based group events, allowing users to interact in real-time online and offline. The new funds will be used to expand its financial services infrastructure, including support for cryptocurrency payments and stablecoin withdrawals.
Regulation & Policy
Chris Dixon, Managing Partner of a16z Crypto, posted on the X platform that crypto developers urgently need clear rules. While over the past five years, both US political parties and members of the crypto industry under Trump have worked closely to protect decentralization, support developers, and provide a fair chance for entrepreneurs, the core of the CLARITY Act is to achieve these goals. The bill is not perfect, its progress is still too slow, and it needs amendments before becoming law. But if the US wants to remain the best place globally to build the crypto future, it must accelerate the advancement of the CLARITY Act.
Voices
Fidelity: Wall Street Integration Will Drive Cryptocurrency into a New Phase
Chris Kuiper, Vice President of Research at Fidelity Digital Assets, stated that digital assets are approaching a structural inflection point similar to the impact of containerization on global trade. Infrastructure, institutions, and advisors are laying the groundwork for a structural shift in global finance. Institutional adoption is expanding through custody, derivatives, tokenization, and slow-moving capital pools like pensions and endowments. Chris Kuiper believes that as access to cryptocurrency broadens, wealth advisors could become an underestimated source of long-term demand. Furthermore, in 2025, major banks announced plans to build digital asset capabilities. In 2026, digital assets will continue to integrate into the traditional financial system, and regulatory clarity may accelerate this process.
Vitalik posted on the X platform that protocol simplicity is a crucial aspect of being trustless, passing the escape hatch test, and being self-sovereign. Even with a high degree of decentralization, if a protocol becomes bloated with hundreds of thousands of lines of code or complex cryptography, it will ultimately fail. Vitalik Buterin's concern regarding Ethereum protocol development is that over-adding new features to meet specific needs harms long-term self-sovereignty. To address the issue of protocol bloat over time due to backward compatibility, the Ethereum development process needs clear simplification and garbage collection mechanisms.
Alex Thorn, Head of Research at Galaxy, posted on the X platform that US Senate Banking Committee Chairman Tim Scott has announced a delay in the crypto market structure bill hearing. It is understood that the stablecoin yield issue is a key sticking point in the negotiations. Banking lobbyists are actively pushing to restrict stablecoin rewards, fearing that interest-bearing stablecoins could siphon bank deposits and destabilize the banking system. Compromise proposals put forward to gain lawmaker support were ultimately deemed unacceptable by the stablecoin industry, with some viewing the issue as existential. Other unresolved issues include restrictions on DeFi and illicit activities, as well as limitations on tokenized securities innovation.
