Market Signal Briefing

Investors might want to bet on Microchip Technology (MCHP - Free Report) , as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.

The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this chipmaker, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.

The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.

Consensus earnings estimates for the next quarter and full year have moved considerably higher for Microchip Technology, as there has been strong agreement among the covering analysts in raising estimates.

The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:

12 Month EPS

Current-Quarter Estimate RevisionsThe company is expected to earn $0.41 per share for the current quarter, which represents a year-over-year change of +105.0%.

Over the last 30 days, six estimates have moved higher for Microchip Tech compared to no negative revisions. As a result, the Zacks Consensus Estimate has increased 9.61%.

Current-Year Estimate RevisionsFor the full year, the earnings estimate of $1.51 per share represents a change of +15.3% from the year-ago number.

There has been an encouraging trend in estimate revisions for the current year as well. Over the past month, six estimates have moved up for Microchip Tech versus no negative revisions. This has pushed the consensus estimate 5.39% higher.

Favorable Zacks RankThe promising estimate revisions have helped Microchip Tech earn a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.

Bottom LineMicrochip Tech shares have added 12% over the past four weeks, suggesting that investors are betting on its impressive estimate revisions. So, you may consider adding it to your portfolio right away to benefit from its earnings growth prospects.

HomeEarnings AnalysisFinancials 

SummaryOld National Bancorp delivered a strong Q4, with revenue up 41% and EPS beating estimates, driven by acquisition activity.ONB's net interest margin remained robust at 3.65%, with improved efficiency and sequential gains in return metrics.Asset quality showed sequential improvement, but nonaccrual loans at 1.07% remain elevated versus regional peers, warranting caution.Despite operational progress, ONB's stock performance is flat and the bank is rated a hold, as better opportunities exist in the sector.Looking for a helping hand in the market? Members of BAD BEAT Investing get exclusive ideas and guidance to navigate any climate. Learn More » Deagreez/iStock via Getty Images

We continue our regional bank Q4 earnings coverage with Old National Bancorp (ONB). This bank is operating fine, but there are some softening metrics. It is an average operator in our opinion, though it has been

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Were you affected by investment losses in VRNS common stock between February 4, 2025, and October 28, 2025?

Affected Investor Losses Summary

Varonis Systems, Inc. securities class action filed Purchasers or acquirers of Varonis Systems, Inc. (NASDAQ: VRNS) common stock Seeking recovery of investment losses for material misstatements and/or omissions (as alleged) from February 4, 2025 through October 28, 2025 Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) can assist at no cost to investor , /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Varonis Systems, Inc. ("Varonis") (NASDAQ: VRNS) on behalf of those who purchased or otherwise acquired Varonis common stock between February 4, 2025, and October 28, 2025, inclusive (the "Class Period"). The lead plaintiff deadline is March 9, 2026.

Action: Securities class action lawsuit filed Company: Varonis Systems, Inc. (NASDAQ: VRNS) Affected investors: Purchasers or acquirers of Varonis Systems, Inc. common stock Class Period: February 4, 2025 through October 28, 2025 Allegations: Material misstatements and/or omissions (as alleged) Relief sought: Recovery of investment losses The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Varonis was ill-equipped to continue its ARR growth trajectory without maintaining a significantly high rate of quarterly conversions; and (2) as a result, Defendants' positive statements about the company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP (KTMC):
If you suffered Varonis losses, contact Kessler Topaz Meltzer & Check, LLP (KTMC) at:

https://www.ktmc.com/new-cases/varonis-systems-inc?utm_source=PR_Newswire&mktm=PR

You can also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at [email protected].

THE LEAD PLAINTIFF PROCESS:
Varonis investors may, no later than March 9, 2026, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

Kessler Topaz Meltzer & Check, LLP encourages Varonis investors who have suffered significant losses to contact the firm directly to acquire more information.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP (KTMC):
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal's Plaintiff's Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group's Honor Roll of Most Feared Law Firms, The Legal Intelligencer's Class Action Firm of the Year, Lawdragon's Leading Plaintiff Financial Lawyers, and Law360's Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, PA 19087
[email protected]

May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.

SOURCE Kessler Topaz Meltzer & Check, LLP

Analyst’s Disclosure: I/we have a beneficial long position in the shares of SFBS either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Key Takeaways TPAO is in talks with Chevron to jointly explore offshore oil and gas to strengthen Turkey's output.The potential deal would mirror TPAO's Exxon Mobil tie-up in the Black Sea and Mediterranean.Chevron's Mediterranean experience and advanced seismic and drilling skills could support. Per Bloomberg, Turkey’s state-owned energy company, Turkish Petroleum Corp. or TPAO, is in discussions with Chevron Corporation (CVX - Free Report) to jointly explore oil and gas resources, marking another step in Turkey’s push to strengthen domestic energy production. The talks, which remain confidential, focus on potential collaboration in seismic studies and drilling operations across key offshore regions.

If finalized, the partnership would add Chevron to a growing list of major U.S. energy companies working with Turkey, following a January agreement between TPAO and Exxon Mobil Corporation (XOM - Free Report) for joint exploration in the Black Sea and the Mediterranean. According to this agreement, XOM would identify oil and natural gas resources in the untapped areas of the Black Sea and Mediterranean.

Scope of the Potential CollaborationAccording to officials familiar with the matter, TPAO and Chevron are evaluating joint work on seismic surveys and drilling, though the specific projects have not been disclosed. Chevron, currently carrying a Zacks Rank #3 (Hold), confirmed it continues to assess global exploration opportunities but declined to comment on commercial details.

TPAO already has a broad international footprint, with operations in the Black Sea, Iraq, Russia and Somalia. It has also previously conducted drilling activities in the eastern Mediterranean, an area where Chevron operates producing fields in Israeli and Cypriot waters.

Boosting Energy IndependenceThe talks with Chevron fit into Turkey’s broader strategy to reduce its near-total reliance on imported oil and gas. Turkey has been investing heavily in expanding domestic production while also strengthening TPAO’s role as an international exploration player.

In recent years, TPAO has expanded its fleet of specialized offshore exploration vessels, enhancing its ability to undertake complex deepwater projects. The company has also announced plans to raise up to $4 billion through its first Islamic bond sale, underlining its ambitions to finance large-scale energy developments.

Chevron’s Technical Edge in the MediterraneanChevron brings extensive experience in the Mediterranean basin, particularly in offshore fields in Israeli and Cypriot waters. This operational knowledge could prove valuable for projects in geologically complex areas such as the eastern Mediterranean and parts of the Black Sea.

Deepwater exploration in these regions requires advanced seismic interpretation and drilling technologies capable of handling challenging formation pressures and temperatures. Robust safety and risk management systems are also critical, especially as operations move farther offshore and into deeper waters.

Infrastructure and Connectivity OpportunitiesOne potential advantage of exploration success lies in the region’s existing energy infrastructure. Parts of the eastern Mediterranean are close to established pipeline networks, which could lower development costs and shorten timelines for bringing new production to market.

However, cross-border pipeline integration would require careful regulatory coordination among multiple countries. Turkey’s geographic position offers potential links to European gas markets, but such connections depend on diplomatic alignment as well as technical feasibility.

Assessing Resource Potential and Commercial ViabilityBoth the Black Sea and the eastern Mediterranean offer promising but distinct geological prospects. Each basin presents unique technical and economic challenges that will shape the commercial viability of any discoveries.

The eastern Mediterranean, in particular, already hosts proven hydrocarbon reserves across several national jurisdictions. Proximity to Chevron’s existing operations could create operational synergies, improving cost efficiency and execution if joint projects move forward.

The discussions come amid improving U.S.-Turkey relations, which have helped create a more favorable environment for American energy investments in Turkey. A Chevron-TPAO partnership would be part of a broader trend of deepening economic and strategic cooperation between the two countries.

What Comes NextAny partnership between TPAO and Chevron would unfold in phases, from technical evaluations and regulatory approvals to drilling and potential development. Success will depend on effective coordination between corporate and government stakeholders, technical execution and supportive market conditions.

Beyond its commercial implications, the potential deal signals Turkey’s continued drive toward greater energy independence and a more prominent role in regional hydrocarbon development across the Mediterranean basin.

Key PicksInvestors interested in the energy sector may consider some top-ranked stocks like Cenovus Energy Inc. (CVE - Free Report) and Oceaneering International, Inc. (OII - Free Report) . Cenovus Energy and Oceaneering International currently sport a Zacks Rank #1 (Strong Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

Calgary, Canada-based Cenovus Energy is a leading integrated energy firm. The company’s operations comprise marketing the produced oil, natural gas and natural gas liquids. The Zacks Consensus Estimate for CVE’s 2025 earnings indicates 26.2% year-over-year growth.

Houston, TX-based Oceaneering International is one of the leading suppliers of offshore equipment and technology solutions to the energy industry. The Zacks Consensus Estimate for OII’s 2025 earnings indicates 76.3% year-over-year growth.

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HomeStock IdeasQuick Picks & Lists

SummaryOnline travel agency Expedia, our top overall contributor in Q4, drove performance in the consumer discretionary sector.Our top performers in the energy and financials sectors were NOV, a provider of oilfield equipment, technology and expertise, and First Citizens, a North Carolina-based bank.Our largest new purchase was Houston-headquartered Prosperity BancShares, the fifth-largest bank in Texas.Another notable purchase was Revvity, a life sciences and diagnostics company that was a 2023 spinoff of PerkinElmer. matejmo/iStock via Getty Images

The following segment was excerpted from the Artisan Mid Cap Value Fund Q4 2025 Commentary.

The portfolio slightly outperformed the Russell Midcap® Value Index in Q4. As we have noted in prior quarterly portfolio letters, our investment style

Netflix jumped into the advertising business later than its media peers, but its strategy shift is starting to pay off.

This week Netflix reported its fourth-quarter earnings, which were mostly overshadowed by the company's recent pursuit to acquire Warner Bros. Discovery's streaming and studio assets. However, beyond the headlines, metrics like customer engagement, subscriber numbers and advertising revenue paint a promising picture.

The earnings report provided some long-awaited clarity on the progress of Netflix's advertising strategy, and how it has been factoring into the overall business. On Tuesday Netflix said 2025 advertising revenue exceeded $1.5 billion — about 3% of total full-year revenue for the streaming giant — and is expected to double this year.

Overall company revenue jumped almost 16% percent for 2025, while net income rose 26%.

"We're making good progress and the opportunity ahead of us is massive," Co-CEO Greg Peters said on Tuesday's call with investors.

Wall Street analysts, however, noted that ad revenue disclosure fell short of their previous forecasts, indicating that it could be taking longer than expected to get the ad business off the ground.

"The last couple of years were slower out of the gate than we had estimated. However, advertising revenue growth is hitting its stride and should yield a similar contribution to revenue growth as we had estimated in our pre-4Q forecast," analysts at Deutsche Bank said in a research note Wednesday.

Robert Fishman of MoffettNathanson noted total ad revenue was lower than the research firm had forecast but welcomed the fresh insights into the company's ad business.

"At least now we can finally have a better understanding of the contribution from advertising to total growth and can back into core subscription revenues," Fishman said in a note on Wednesday.

Netflix's stock was trading down about 4% on Wednesday.

Advertising has come front-and-center for media companies after it became clear that a subscription-only streaming model wouldn't be enough to support profitability.

Advertisers, despite various headwinds, have been eager to find a place on streaming platforms, especially Netflix.

Yet the industry leader was late to the advertising game after leadership long rejected the business model. It launched its cheaper, ad-supported tier in late 2022, coinciding with a brief slowdown in subscriber additions.

Advertising and a crackdown on password sharing were put forth as measures to drive growth. And it has, even if slowly.

Netflix said Tuesday it had 325 million global subscribers at the end of 2025. That marks an increase of roughly 23 million from the end of 2024, when Netflix last disclosed its global paid memberships.

For comparison, Netflix added roughly 41 million subscribers in 2024 and almost 30 million in 2023.

Against a backdrop of consistent price increases for streaming services, companies are increasingly leaning on the belief that consumers will opt for cheaper, ad-supported plans rather than drop out altogether.

Peters said Tuesday that while there remains a gap between average revenue per membership of the company's standard, no-ads plan subscription and its ad-supported plan, "that gap is narrowing."

"And while, because there's a gap, it means we're under-realizing revenue growth in the near time, it also, therefore, represents an opportunity for us," Peters said, pointing to upgrading the tech stack and ad capabilities to help drive growth.

, /PRNewswire/ -- Eagle Financial Services, Inc. (NASDAQ: EFSI) (the Company), the holding company for Bank of Clarke, declared a regular cash dividend on January 21, 2026, of $0.31 per common share payable February 13, 2026, to shareholders of record on February 2, 2026.

Eagle Financial Services, Inc. will release its financial results for the quarter and year ended December 31, 2025, after the market closes on January 26, 2026. The Company will also host a listen-only conference call and webcast to discuss fourth quarter results on January 27, 2026. More details related to the call and how to listen to it will be available in the Company's 2025 fourth quarter earnings release.

The Bank of Clarke offers a broad range of commercial banking, retail banking and trust and investment services through 14 bank branches located throughout Clarke, Frederick, Loudoun, Fairfax and Fauquier Counties, as well as the City of Winchester, Towns of Purcellville and Leesburg and Ashburn, VA. The Bank also has a loan production office in Frederick, MD. The Company's common stock trades NASDAQ under the symbol EFSI.

SOURCE Eagle Financial Services, Inc.

Vitalik Buterin said that he already posts through Firefly, a multi-client covering X, Lens, Farcaster, and Bluesky.

Ethereum co-founder Vitalik Buterin said he plans to return fully to decentralized social media in 2026. In the latest post on X, he explained that better mass communication tools are necessary for a better society while pointing out that the current platforms often prioritize short-term engagement over users’ long-term interests and fail to surface the best information, arguments, or areas of agreement.

He said there is no simple solution to these issues, but added that increased competition is an important starting point, which can be enabled through decentralization. According to Buterin, decentralized social media can support competition by relying on a shared data layer that allows anyone to build their own client on top, rather than locking users into a single platform.

Decentralized Social Media He also said he had already returned to decentralized social at the start of this year. Interestingly, every post he has made or read in 2026 has been done through Firefly, a multi-client platform that supports reading and posting across X, Lens, Farcaster, and Bluesky.

Buterin criticized the direction many crypto-based social media projects have taken in the past, while stating that the industry has often treated the addition of speculative tokens as innovation. He said that while mixing money and social platforms is not inherently wrong, and cited Substack as an example of an economy that supports high-quality content through subscriptions, past crypto social experiments have focused on creating price bubbles around creators rather than supporting content quality.

He said these approaches have repeatedly failed over the past decade by rewarding existing social capital instead of good content and by seeing associated tokens collapse in value after one or two years. Buterin further slammed arguments that creating new markets and assets is automatically beneficial because it “elicits information,” and said that such claims are often contradicted by product decisions that do not prioritize users’ ability to benefit from that information.

He said decentralized social platforms should instead be built and run by teams that are primarily focused on solving social problems and improving online interaction.

256 ETH Donation In November, Buterin donated a total of 256 ETH to support the development of privacy-focused messaging tools. 128 ETH each were poured into Session and SimpleX, two projects working on end-to-end encrypted communication. Buterin said encrypted messaging is critical for digital privacy and promoted permissionless account creation and metadata privacy as crucial areas still needing improvement.

You may also like: Wintermute Calls End of Four-Year Crypto Cycle, Flags 2026 Triggers BlackRock, JPMorgan Among 35 Firms Building on Ethereum Ethereum Staking Surges to All-Time High Amid Institutional Wave While acknowledging that the platforms remain works in progress, he actively pushed privacy-focused communication forward. He also urged more developers to help address remaining technical challenges.

Tags:

Network activity has risen, driven by speculation around AI tokens, with active addresses increasing from 14.7 million to 18.9 million in a week.

$54 million leaves the XRP ETFs, but the price remains at a key support level.

New oracle feeds deliver continuous US stock and ETF pricing for DeFi applications beyond standard market hours.

Market Sentiment:

Bullish Bearish Neutral

Published: January 21, 2026 │ 4:35 PM GMT

Created by Kornelija Poderskytė from DailyCoin

Chainlink (LINK) is expanding the reach of decentralized finance (DeFi) into US equities with its new 24/5 US Equities Streams. The oracle network’s feeds provide continuous stock and ETF pricing nearly around the clock, including pre-market, post-market, and overnight sessions.

Available across more than 40 blockchains, the streams deliver high-frequency, cryptographically verified data to decentralized applications, filling a long-standing gap in equity-linked DeFi infrastructure.

While the feeds do not enable direct trading of U.S. equities on-chain, they allow smart contracts and protocols managing tokenized equities, synthetic stocks, and structured products to maintain vault accounting, margin calculations, and automated execution even when traditional brokerages are offline. 

Sponsored

Continuous pricing also reduces the risk of stale reference data and enables more accurate risk management for on-chain financial products.

Continuous Market Data Powers On-chain Equity ProductsThe 24/5 Streams are designed to support a wide range of real-world asset (RWA) applications, including equity perpetuals, synthetic equities, prediction markets, and lending platforms.

Early adoption by leading protocols such as Lighter, BitMEX, ApeX, and HelloTrade reflects strong demand for reliable, institutional-grade onchain data.

Why This MattersRWAs are gaining rapid traction on blockchain, with on-chain adoption projected to reach $30 trillion by 2030. Despite this growth, the world’s largest and most liquid asset class, the US equities, remain underrepresented. 

This is largely due to a structural mismatch: blockchain markets operate 24/7, while U.S. equity markets trade only during limited, fragmented sessions.

Most on-chain data solutions rely on a single daily equity price, which creates pricing gaps and increases off-hours risk for protocols. These limitations have made it difficult to develop scalable, equity-based DeFi products, which Chainlink is expecting to change.

Dig into DailyCoin’s hottest crypto scoops now:
NYSE’s 24/7 Tokenization Play Puts XRP Back in the Spotlight
Cardano Whales Scoop 210M ADA On Dip: Big Bounce Coming?

People Also Ask:What are Chainlink 24/5 U.S. Equities Streams?

They are data feeds that provide continuous, high-frequency pricing for U.S. stocks and ETFs during regular trading hours, pre-market, post-market, and overnight sessions. They deliver cryptographically verified data to blockchain-based applications.

Can I trade U.S. stocks directly onchain with these streams?

No. The feeds supply market data only; they do not enable ownership or direct trading of U.S. equities on blockchain. They are designed for use in DeFi protocols and tokenized financial products.

Which types of DeFi applications can use these streams?

Applications include synthetic stocks, tokenized equities, equity perpetuals, prediction markets, structured products, and lending protocols. Continuous pricing supports accounting, margin calculations, and risk management.

Which blockchains and protocols are using these streams?

The feeds are available on more than 40 blockchains. Early adopters include Lighter, BitMEX, ApeX, HelloTrade, and other protocols managing real-world assets (RWAs) or derivatives.

DailyCoin's Vibe Check: Which way are you leaning towards after reading this article?

Market Sentiment

0% Neutral

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Canada's Prime Minister, Mark Carney, walked onto the World Economic Forum's Davos stage yesterday and said the quiet part out loud.

The rules-based order, the thing leaders love to invoke when they want the world to behave, is fading.

Carney called it a “pleasant fiction.”

He said we are living through a “rupture.”

He said great powers are using integration as a weapon, tariffs as leverage, finance as coercion, and supply chains as vulnerabilities to be exploited.

Then he reached for Václav Havel’s famous “greengrocer” from The Power of the Powerless, the shopkeeper who hangs a sign reading “Workers of the world, unite!” not because he believes it, but because he knows the ritual matters more than the words. It’s Havel’s shorthand for life under a system where everyone performs loyalty in public, even as they quietly recognize the lie.

He told the room, “It is time for companies and countries to take their signs down.”

The Davos audience cheered and clapped in response.

Perhaps, one can argue that they are trained to nod along. This week, they have extra reasons.

The talk around town has been about tariffs and coercion, and whether allies are about to be treated like revenue lines.

The mood is tied to President Trump escalating pressure around Greenland and tariff threats against European partners, a story that keeps resurfacing across conference chatter and the news cycle.

Carney’s slot was listed as a “Special Address” in the WEF run-up. His message landed in a room already primed for it.

Here is the part crypto people should not miss: when geopolitics becomes transactional in public, money stops being background infrastructure and starts feeling like a border.

That shift changes what people pay for.

It changes what investors store value in. It changes what counts as a safe option.

Bitcoin sits right in the middle of that feeling.

Not because it suddenly becomes a global settlement rail for trade invoices. It probably does not.

Not because it replaces the dollar in a clean, straight line. It almost certainly does not.

Bitcoin matters because it offers an option: a credible outside asset that is hard to block, hard to rewrite, and hard to gate behind somebody else’s permission.

In a stable world, that sounds ideological. In a rupture world, it starts to sound like risk management.

Carney even used the language of risk management. He said this room knows it. He said insurance costs money, and the cost can be shared.

Collective investments in resilience are cheaper than everyone building their own fortresses.

That is the Davos version of a truth every investor learns early: concentration risk feels fine until the day it does not.

The human part of this story, the moment you realize access can be conditionalMost people do not wake up wanting a new monetary system.

They wake up wanting their salary to clear, their bank transfer to arrive, their business to keep trading, and their savings to keep meaning something next year.

They also have a moment, sometimes it is a headline, sometimes it is a blocked payment, sometimes it is a currency shock, when they realize access can be conditional.

Carney’s speech is basically a map of how those moments multiply.

He talked about tariffs used as leverage.

He talked about financial infrastructure as coercion.

He talked about supply chains exploited as vulnerabilities.

“Over the past two decades, a series of crises in finance, health, energy and geopolitics have laid bare the risks of extreme global integration. But more recently, great powers have begun using economic integration as weapons, tariffs as leverage, financial infrastructure as coercion, supply chains as vulnerabilities to be exploited.

You cannot live within the lie of mutual benefit through integration, when integration becomes the source of your subordination.”

That is what a “rupture” feels like in everyday terms. Your costs move because of a speech in another capital. Your suppliers disappear because of a sanctions package. Your payment route gets slower because a bank somewhere decides your jurisdiction is riskier this month.

Even if you never touch crypto, that environment changes the way you value optionality.

Bitcoin is optionality with teeth.

It is not magic.

It does not make geopolitics disappear.

It does not exempt anyone from laws.

It does not stop volatility.

It does one simple thing: it exists outside most of the chokepoints that make modern finance such an effective tool of state power.

That is why this moment matters more than a single Davos speech.

Two Bitcoins show up in markets, the insurance one, and the liquidity oneIf you want to talk about Bitcoin under a changing world order without slipping into slogans, you have to admit something that makes true believers uncomfortable.

Bitcoin has two personalities in markets.

One is the insurance asset. People buy it because they worry about the rails, the long term, the shape of the world, and the rules. They want something that can move across borders as information.The other is the liquidity asset. In sudden shocks, Bitcoin trades like the thing that gets sold when people need dollars now.That second personality is why “rupture” headlines can produce weird price action. The macro story gets scarier, and Bitcoin drops anyway.

The immediate response is a dollar grab: credit tightens, leverage unwinds, risk gets sold first, and questions get asked later.

There's a sequence: squeeze first, repricing later.

Tariffs as leverage, why the first wave can hurt Bitcoin, then help its storyTariffs are more than a tax; they are a signal.

They tell markets the temperature of international relationships, they tell companies how stable their cost base will be, and they tell central banks how messy inflation might get.

This is where Carney’s argument about weaponized integration connects directly to Bitcoin’s near-term and long-term path.

If the latest tariff threats escalate into real measures, companies reprice supply chains, consumers see price pressure, and policymakers face uglier trade-offs.

The JPMorgan framing around tariffs is a reminder that they are not just politics. They are a macro variable that shows up in growth, inflation, and confidence.

In the first phase, markets often do what markets do. They go defensive, they prefer cash, they prefer the most liquid collateral, and they chase dollars.

Bitcoin can get dragged lower with everything else.

Then the second phase arrives.

Businesses and households realize this is not a one-off. They start paying for resilience. They diversify, build redundancy, and look for assets that sit outside the obvious pressure points.

That is where Bitcoin’s insurance narrative gains weight. Not everyone becomes a Bitcoin maximalist because they read the Bitcoin Whitepaper, but because a larger share of capital starts treating optionality as worth paying for.

Financial infrastructure as coercion, stablecoins live on the rails, Bitcoin sits outside themCarney’s line about financial infrastructure matters because it points to the part of the crypto stack most people misunderstand.

Stablecoins are crypto, and stablecoins are also the dollar’s long arm.

They move fast, they settle cheaply, and they make cross-border value transfer easier. They also live inside an ecosystem of issuers, compliance, blacklists, and regulatory chokepoints.

That is beyond a moral judgment. It is the design, and it is also why stablecoins can scale.

In a world where financial infrastructure becomes more openly coercive, stablecoins can feel like a superhighway with more toll booths.

Bitcoin feels like a dirt road that still gets you out. That distinction becomes more important as countries and blocs start building their own resilience stacks.

Carney called it variable geometry: different coalitions for different issues. He talked about buyers’ clubs for critical minerals, bridging trade blocs, and AI governance among like-minded democracies.

You can see the same logic in the policy world around defense procurement, including Europe’s SAFE push.

It is about capacity, coordination, and optionality. Crypto will get pulled into that same orbit.

Some blocs will prefer regulated, surveilled rails. Some will build their own. Some will restrict foreign dependencies. Some will quietly keep a foot in every camp.

Bitcoin’s role in that environment is leveraged through existence.

If you can exit, even imperfectly, coercion becomes costlier to apply.

Middle powers, “third paths,” and why Bitcoin’s biggest impact might be psychologicalCarney’s speech is a manifesto for middle powers: countries that cannot dictate terms alone, and that get squeezed when great powers turn the world into a bilateral negotiation.

He said negotiating alone with a hegemon means negotiating from weakness. He said middle powers have a choice: compete for favor, or combine to create a third path.

That is a geopolitical argument.

It also rhymes with what Bitcoin represents in finance.

Bitcoin is a third-path asset.

It is not the hegemon’s money. It is not a rival’s money. It is not a corporate ledger. It is not a treaty.

That matters most when trust is thin and alignment is messy, when alliances feel conditional, and when sovereignty sounds less like a principle and more like something you have to finance.

Carney stood with Greenland and Denmark in his remarks.

He opposed tariffs over Greenland, and called for focused talks on Arctic security and prosperity.

You do not have to take a view on Greenland to see the pattern. Trade tools are being discussed as leverage among allies in public.

When that happens, every CFO, every pension committee, every sovereign fund, and every household with savings gets a little more serious about tail risks.

That is what matters for us, the slow shift in what feels safe.

US President Donald Trump, speaking today, asserted that he “would not use force” to take Greenland but reiterated that he does still want to purchase the “big block of ice.” He reaffirmed that he expects Europe to support the purchase for world security reasons, but if it refuses, “the US will remember.”

Three forward scenarios for Bitcoin by 2030, “managed fragmentation,” “tariff spiral,” “rails fracture”Carney called this a rupture.

He also warned against a world of fortresses and argued for shared resilience. Those are two different futures, and Bitcoin’s path looks different in each.

1) Managed fragmentationBlocs form, standards diverge, and trade routes adjust. Coercion exists, but it stays bounded because everyone realizes escalation is expensive.

Bitcoin in this world trends upward as a portfolio's final insurance policy. Volatility remains.

Correlation to liquidity cycles remains. The structural bid grows because the world keeps paying for optionality.

2) Tariff spiral and dollar squeezeTariffs escalate, and retaliation follows.

Inflation uncertainty rises, central banks stay tight longer, and risk assets get hit. A dollar squeeze shows up.

Bitcoin here can look disappointing in the moment.

Price falls with leverage unwinds, narratives get mocked, then policy eventually shifts, liquidity returns, and the underlying reason people want an exit option becomes stronger.

3) Rails fractureFinancial coercion expands. Secondary sanctions and controls become more common. Cross-border payments get more politicized.

Some countries build parallel settlement stacks, some companies reroute exposure, and everyone pays more for friction.

Bitcoin’s insurance value is highest in this world because the cost of conditional access is highest.

Stablecoins still matter for commerce. Bitcoin matters for reserve optionality, for portability, and for the ability to move value when doors close.

This is also where regulation gets harsher. A fractured world tends to be a more suspicious world, and the easiest thing for states to tighten is anything that looks like capital flight.

Bitcoin’s upside here exists alongside higher enforcement pressure. That tension becomes part of the story.

The quiet tell, even Davos is arguing about resilience, not efficiencyThe old globalization story was efficiency: just-in-time supply chains, single-point optimization, and frictionless capital.

Carney’s speech is about resilience, redundancy, shared standards, and variable coalitions.

And it is happening at Davos, the temple of integration. That is the tell. Even the “rules-based order” language is changing in public.

The WEF theme is still cooperation. The framing is still dialogue. And the agenda is full of resilience talk because the room knows the bargain Carney described is under strain.

Outside Davos, the news cycle reinforces the point.

The UN Security Council is still extending reporting around Red Sea attacks, reminding everyone that shipping lanes are strategic terrain. The UN record captures how persistent that risk remains.

The Venezuela tanker seizures covered by AP show hard power and economic control blending in the Western Hemisphere, too.

Le Monde’s report on a US-Taiwan deal around advanced chips and tariffs shows how industrial policy and trade are merging, even in sectors that used to be treated as pure economics.

Bitcoin does not cause any of this.

And it does not solve it.

It becomes more relevant because the world is changing around it.

What to watch next, five signals that the rupture thesis is becoming investableA watchlist to remain alert:

Tariff implementation dates, and whether threats turn into policy. The Greenland-linked tariff reporting is one real-time test.Signs of allies building redundancy stacks: defense procurement coordination, trade bridges, critical-minerals buyers’ clubs, and the policy plumbing that makes “shared resilience” real.Cross-border payments politics. Any move that makes access more conditional increases demand for outside options, and also increases pressure on crypto on-ramps.Energy and shipping risk. The Red Sea remains a live variable.Bitcoin’s behavior during stress. If it sells off first and rebounds when policy shifts, that fits the two-personality model. If it starts holding up during shocks, that signals the insurance bid is getting deeper.The point Carney made, applied to BitcoinCarney’s speech was a warning about pretending, about “living within a lie,” about acting like the old system still works as advertised.

For Bitcoin, the parallel is simpler. People have treated money as plumbing for decades. They are starting to treat it like a geopolitical instrument again.

In that world, Bitcoin becomes easier to understand.

Not as a promise. Not as a religion. And not as a straight-line trade.

It becomes what it has always been underneath the hype: a volatile, imperfect, stubborn form of financial optionality.

A way to keep one window open when more doors start coming with terms and conditions.

Mentioned in this article

TLDR: Gateway delivers sub-500 millisecond USDC access across chains, eliminating traditional rebalancing delays entirely. CCTP processes transfers in 8-20 seconds via Fast Transfer, suitable for periodic cross-chain rebalancing operations. Gateway maintains unified balances accessible simultaneously on multiple networks without fragmenting working capital. Both protocols employ non-custodial security with Gateway requiring dual signatures for instant access authorization. Circle has introduced Gateway, a novel infrastructure enabling instant access to USDC balances across multiple blockchain networks. 

The protocol addresses long-standing challenges in cross-chain liquidity management for institutional and retail users. Unlike traditional bridge mechanisms, Gateway maintains unified balances while eliminating rebalancing requirements. 

This development marks a significant shift in how digital dollar infrastructure operates across different blockchain ecosystems.

Architectural Differences Between CCTP and Gateway Circle’s Cross-Chain Transfer Protocol and Gateway serve distinct purposes within the USDC ecosystem. CCTP facilitates direct transfers between chains through burn-and-mint mechanics. 

The protocol requires on chain contracts paired with an off-chain attestation API for verification. Standard transfers depend on source chain finality, typically completing within variable timeframes. Fast Transfer capability reduces wait times to approximately eight to twenty seconds.

Gateway operates through a different mechanism altogether. The system maintains unified USDC balances accessible across supported networks simultaneously. 

Circle Gateway is now available on @solana!

Developers can enable chain-abstracted USDC that’s instantly available when and where it’s needed for DeFi, payments, treasury rebalancing, and more.

→ Non-custodial, chain-abstracted @USDC
→ Frictionless, instant crosschain UX
→… pic.twitter.com/4TywDwciv6

— Circle (@circle) January 21, 2026

Users deposit funds into Gateway Wallet contracts rather than executing individual transfers. Balance tracking infrastructure monitors positions across all connected chains in real time. The protocol delivers sub-500 millisecond access speeds once balances are established.

Both systems maintain non-custodial security models with important distinctions. CCTP users retain full wallet control throughout the transfer process. 

Gateway requires user signatures for any USDC movement from wallet contracts. Instant access combines user signatures with Gateway attestations for authorization. The protocol includes a seven-day trustless withdrawal option as a failsafe mechanism.

The infrastructure choices reflect different optimization priorities. CCTP excels at point-to-point transfers and periodic rebalancing operations. 

Gateway prioritizes constant availability and eliminates working capital fragmentation. Transfer speeds vary considerably between the two approaches. 

CCTP processes transactions based on blockchain confirmation times while Gateway provides near-instantaneous access.

Practical Applications and Use Case Differentiation The protocols target different operational requirements within crypto commerce and finance. CCTP suits scenarios requiring occasional cross-chain movements between specific networks. 

Users benefit from secure transfers without maintaining multiple positions simultaneously. The protocol handles native USDC movements and serves as intermediate liquidity for complex transactions. Rebalancing treasury positions across chains represents a primary use case.

Gateway addresses challenges facing businesses managing multi-chain operations. Merchants accepting payments on various networks no longer need fragmented working capital. 

Liquidity becomes immediately available regardless of which chain receives incoming transfers. The unified balance model reduces operational complexity significantly. 

Businesses tap on-demand liquidity without pre-positioning funds across multiple networks.

Cost structures differ between the two systems as well. CCTP involves gas fees on source and destination chains plus minimal protocol charges. 

Gateway requires initial balance establishment but eliminates per-transaction rebalancing costs. The tradeoff depends on transaction frequency and operational patterns. High-volume operations benefit more from Gateway’s instant access model.

Security considerations remain paramount for both protocols. CCTP’s attestation process validates legitimate burn events before minting on destination chains. 

Gateway’s dual-signature requirement prevents unauthorized access while maintaining speed advantages. The seven-day delay withdrawal provides additional security for users concerned about attestation dependencies. 

Both approaches prioritize user control over custodial convenience throughout their design.

2 mins mins

Key Points:

Iran’s Central Bank receives $500 million USDT to bolster the rial.Elliptic research links transactions to Modex; funds have exited Iran.No official confirmations; outlines cryptocurrency’s role in Iranian sanctions circumvention. The Central Bank of Iran reportedly acquired over $500 million in USDT in 2025, potentially to maintain the rial’s stability, according to blockchain intelligence firm Elliptic.

This maneuver highlights potential impacts on Iran’s economy and draws attention to the interplay between cryptocurrency and geopolitical financial strategies.

Iran Allegedly Uses USDT to Prop Up Rial Elliptic’s research revealed that the Iranian central bank had allegedly acquired over $500 million USDT last year, with all the funds now exited through wallets. The transactions appear to involve a cryptocurrency broker named Modex, possibly aligning with the Iranian government’s efforts to support the economy.

The removal of these funds suggests a covert strategy to enhance the value of the Iranian rial, reflecting broader financial maneuvers in the face of economic sanctions. Such undisclosed financial channels raise questions about regulatory oversight and the resilience of cryptocurrency networks in managing global sanctions.

Mohammad Bagher Ghalibaf, Iranian Parliament Speaker, said, “Cryptocurrencies provide new ways to do business and pay for trade. We want Iran to become a regional, and even global hub in blockchain technology and digital trade.” source Regulatory Scrutiny and Cryptocurrency Stability Amid Sanctions Did you know? Iran’s engagement with cryptocurrency is linked to its strategy of circumventing international sanctions, reflecting an ongoing trend since the early 2020s where digital assets play a crucial role in geopolitical economic maneuverings.

According to CoinMarketCap, Tether USDt (USDT) maintains a steady value of $1.00, with a market cap of $186.91 billion and a daily trading volume of $111.85 billion, reflecting a 2.79% increase over the last 24 hours. Despite controversies, it exhibits stability amid digital financial landscapes.

Tether USDt(USDT), daily chart, screenshot on CoinMarketCap at 17:08 UTC on January 21, 2026. Source: CoinMarketCap The Coincu research team suggests potential outcomes could include increased scrutiny on stablecoins in international finance and sanctions. Historically, such transactions invite regulatory challenges, heightening tensions between digital and traditional financial systems globally.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Iran's central bank acquired $507 million in Tether's U.S. dollar-pegged stablecoin, mostly over the course of last year, according to Elliptic.

"Elliptic's researchers have been able to map out the Central Bank’s wider wallet infrastructure, revealing a systematic accumulation of USDT totaling at least half a billion dollars," the blockchain analytics firm said Wednesday. "It indicates a sophisticated strategy to bypass the global banking system."

Due to sanctions, Iran is unable to access the global banking system and transfer funds using the SWIFT messaging system. Elliptic said the Central Bank of Iran (CBI) likely acquired the USDT to support its domestic currency, the rial, and settle international trade.

Elliptic's report follows The Washington Post reporting this month that Iran's Islamic Revolutionary Guard Corps (IRGC) used two cryptocurrency exchanges registered in the United Kingdom to move approximately $1 billion since 2023. The vast majority of transactions were settled using USDT.

"The CBI's accumulation of USDT began in earnest during a period of extreme economic volatility. The value of the rial had halved in just eight months, to a record low against the dollar," Elliptic said. "Iran's central bank may have attempted to stem this decline by buying rials with USDT on Nobitex, effectively using cryptoassets to perform open market operations that would usually be conducted with cash reserves."

Nobitex is by far Iran's largest cryptocurrency exchange. According to Elliptic, Nobitex lets customers not only store USDT but also exchange it for other digital assets or sell it for rials.

Last year, Nobitex suffered a major exploit when hackers withdrew up to $90 million from its hot wallets. Elliptic said the pro-Israel group Gonjeshke Darande orchestrated the attack.

Stablecoins popular for illicit activity Stablecoins constitute the predominant medium for illicit cryptocurrency transactions, according to Chainalysis. Although Tether's USDT, the world's most popular stablecoin, has been used to settle illicit transactions, the firm has made efforts to crack down on parties using its USD-pegged token to conduct illegal activity.

Last July, Tether said it had assisted in freezing more than 2,380 wallets holding about $1.14 billion in USDT for U.S. agencies, including the FBI and U.S. Secret Service.

Elliptic alleges that the Central Bank of Iran seems to be building a "sanctions-proof" banking mechanism that replicates holding traditional U.S. dollar accounts.

"By treating USDT as 'digital off-book eurodollar accounts,' the regime creates a shadow financial layer capable of holding US dollar value outside the reach of US authorities," the firm said.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

In brief Compass Point described $98,000 as a pivotal point for Bitcoin. The price serves as a key sentiment barometer, they wrote. Bitcoin fell after flashing a “golden cross” last week. Betting on Bitcoin before it reclaims the $98,000 mark might not be the best idea, following the asset’s recent downturn, according to analysts at investment bank Compass Point.

That’s the current average cost for short-term holders, who have held the digital asset for less than 155 days—and are typically sensitive to price swings—they wrote in a Wednesday note.

Last week, the price of Bitcoin climbed to a two-month high of $97,500, according to CoinGecko. However, it failed to cross the threshold for short-term holders, the analysts wrote, bolstering fears that the digital asset’s price could be poised for a prolonged slide.

“One of the defining features of Bitcoin bear markets is promising relief rallies followed by violent sell-offs,” they wrote. “Last week's rally was BTC's strongest recovery since falling below the Short-term Holders' cost basis on 10/30.”

Bitcoin hovered around $90,000 on Wednesday, after slipping as low as $87,900 the day before alongside tariff-fueled jitters stemming from U.S. President Donald Trump’s renewed bid for Greenland. The fall wiped out Bitcoin’s gains from over the past month.

The analysts noted that long-term holders, who have held Bitcoin for more than six months, have been selling less recently. After a period of moderate selling in late November, the cohort’s supply of coins has remained unchanged at 14 million Bitcoin, according to checkonchain.

Compass Point signaled that it would feel “more comfortable buying the dip” if Bitcoin’s price fell toward $80,000, but it warned that funding rates for perpetual futures remain elevated at 10%, suggesting that market participants are stepping in to buy Bitcoin with borrowed funds.

The analysts explained that “leveraged dip buying can preclude another wave of liquidations if BTC moves lower near-term.” When Bitcoin fell from an all-time high of $126,000, a historic cascade of liquidations showed how quickly markets can shift when trades are forcibly closed.

Last week, Bitcoin’s 50-day average jumped above its 200-day average, a pattern that’s widely interpreted as a bullish sign and referred to as a “golden cross.” At the time, Bitcoin was also closer to advancing past the psychological $100,000 mark. It has since invalidated this pattern, though, with the 50-day moving average falling below the 200-day average yesterday.

Jeff Park, CIO of crypto asset manager Bitwise, posited on X that on Tuesday that “this might be the worst Bitcoin sentiment ever.” With precious metals like gold and silver scaling new heights, he suggested that it’s because investors feel Bitcoin “should be up 10x.”

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

Coinbase’s top executive made waves at the World Economic Forum in Davos on Wednesday by bringing Bitcoin directly into policy discussions with global financial leaders.

Attendees were waiting for US President Donald Trump to speak at the event, and many were anticipating his usual spontaneous remarks about foreign relations and trade policies when Brian Armstrong showed up.

French central banker clashes with crypto CEO The head of Coinbase got into a direct debate with François Villeroy de Galhau, who leads France’s central bank, about who really controls money.

“I trust more independent central banks with a democratic mandate than private issuers of Bitcoin,” the French banking official said during the Davos talk, as reported by Gareth Jenkinson. His statement reflected what many central bankers have said for years, that government institutions have more legitimacy than systems nobody controls.

Armstrong retaliated by reframing the debate. He asserted that political power is not as significant as who actually controls the money supply.

“Bitcoin is a decentralized protocol. There’s actually no issuer of it. So, in the sense that central banks have independence, Bitcoin is even more independent. No country, company, or individual controls it in the world,” Armstrong explained.

The back-and-forth represented something unusual at the World Economic Forum. For the first time in years, Bitcoin itself became the topic of serious debate, not just general discussion about blockchain or digital currencies.

In previous years, WEF discussions largely centered on financial systems that governments and banks could regulate, including central bank digital currencies. Bitcoin’s challenge to state control over money was usually left out of the conversation.

That began to change at WEF 2026, in part because journalists on the ground pressed leaders with more direct questions.

During the “Crypto at a Crossroads” panel, reporters questioned Coinbase CEO Brian Armstrong on whether the U.S. would actually move forward with a strategic Bitcoin reserve, an idea some officials have recently floated.

In response, Armstrong presented Bitcoin as a worldwide monetary network that operates on its own rules and that governments can no longer afford to ignore or avoid, rather than as a speculative wager for rapid riches.

The Coinbase executive later pointed out on social media that people assume today’s financial system is the only option. However, he noted that the current setup only started in 1971 when President Nixon ended the gold standard.

However, Trump’s expected speech remained the main event that many attendees looked forward to, given his track record of making unexpected statements about tariffs, trade deals, and foreign policy.

Trump arrived in Switzerland for Davos after his plane experienced some issues, according to reports on social media.

Banking lobby accused of blocking crypto competition through regulation Away from the main conference, Armstrong kept criticizing traditional finance. In a CNBC interview, he accused American banking groups of using regulations to crush competition, especially regarding stablecoin rules.

He talked about the CLARITY Act, which has stalled in Congress. Armstrong claimed that banks were lobbying to prevent crypto companies from offering interest payments to customers, not because it creates financial risks, but because it threatens their business.

“Their lobbying groups and their trade arms are coming in and trying to ban the competition,” Armstrong told the network. He argued that crypto businesses should get fair treatment under regulations instead of being blocked by established banks.

Later, Armstrong said on social media that as worries about the global financial system continue to grow, all parties are now searching for broadly applicable answers, particularly for Americans.

Hedge fund veteran Ray Dalio expressed similar concerns during Davos Week, warning CNBC that “the monetary order is collapsing” due to changes in central banks’ reserve management practices and growing debt.

According to Dalio, investors are increasingly turning to digital assets like Bitcoin and gold due to their mistrust of conventional currencies. Treasury Secretary Scott Bessent stated in 2025 that confiscated Bitcoin will be transferred to the U.S. strategic reserve, suggesting that Bitcoin is gradually making its way into official thinking.

This suggests that officials are starting to view Bitcoin as a long-term financial asset, even though it does not equate to full government backing.

When considered collectively, the discussions at Davos indicate a distinct change. Bitcoin is no longer only an outsider disregarded by influential organizations. It is currently being discussed in the same systems that previously opted to ignore it in an uncomfortable but important way.

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Bitcoin tumbled sharply this week and erased the gains it had made in 2026. Reports from CoinGlass show that over the past 24 hours, 167,513 traders were forced out of their positions, with total liquidations reaching $857 million, with most of those losses coming from long bets. The price slid below the key $88,000 area on major exchanges as traders were forced out of leveraged positions.

Liquidations And Quick Drop According to CoinGlass and market trackers, the liquidations were concentrated in long positions, which amplified the fall and made the move faster than a simple sell-off would have been. Crypto market value fell by hundreds of millions over the same short span.

Source: Coinglass Markets Turned Risk-Averse As Tariff Threats Spread Reports note that renewed tariff threats from US President Donald Trump toward some European countries set off a fresh “Sell America” trade, which pushed investors away from US assets and toward safer bets.

Stocks fell and the dollar weakened. At the same time, traders were watching big moves in Japan’s bond market, where yields jumped sharply, increasing pressure on global liquidity. Those bond moves are important because they can force carry trades to unwind, pulling money out of risk assets — including crypto.

BTCUSD now trading at $89,053. Chart: TradingView A Tug Between Liquidity And Safe Havens The sell-off did not happen for only one reason. Reports point to a mix of political shocks, bond-market stress, and a wave of forced liquidations as the main drivers. As cash flowed into safe havens, gold surged to fresh highs while crypto lost ground. Many investors treated Bitcoin like a risky asset in this episode, selling it to cover losses or margin calls elsewhere.

Different trackers gave slightly different figures on total market losses and exact liquidations over 24 and 48 hours. That is normal when markets move fast and data is pulled from different exchanges and windows. Still, the broad picture was clear: a fast, leveraged unwind sent prices lower and erased the year’s gains for Bitcoin.

Markets Will Watch Liquidity And Diplomacy Looking ahead, investors will likely watch three things closely: moves in global bond markets, any escalation or de-escalation around the tariff threats tied to Greenland, and whether forced selling slows. If liquidity conditions calm, risk assets can recover more easily. If they keep tightening, the pressure on crypto and stocks could persist.

Featured image from Pexels, chart from TradingView

Bitcoin is showing early signs of stability after dropping into a key support zone, but analysts say it is still too soon to call a strong reversal. Bitcoin recently moved down to fill a CME futures gap between roughly $88,250 and $88,735, a level many traders were closely watching.

Key NotesShielded Labs said it received 3,221 ZEC worth $1.16 million from Tyler and Cameron Winklevoss.This is to fund the core protocol work amid ongoing changes within the Zcash ecosystem.Former Zcash developers have launched the CashZ wallet after exit from Electric Coin Company. The Winklevoss twins have donated to Shielded Labs, an independent Zcash ZEC $369.2 24h volatility: 3.5% Market cap: $6.10 B Vol. 24h: $542.64 M development organization.

The latter confirmed that it received 3,221 ZEC valued at approximately $1.16 million from Gemini founders, Tyler and Cameron Winklevoss.

This fund is to be directed towards core protocol work amid ongoing changes within the Zcash ecosystem.

Winklevoss Twins Contribute to Zcash Security The $1.2 million donated by the Winklevoss twins to Shielded Labs is to support protocol-level work on Zcash.

This includes the Network Sustainability Mechanism, Crosslink, and Dynamic Fees.

All of these initiatives are geared towards improving Zcash’s security, scalability, and economic resilience.

https://t.co/iRx986OwCr

— Shielded Labs (@ShieldedLabs) January 20, 2026

It was worth noting that Shielded Labs and Zcash’s block rewards and development fund operate independently of each other.

The organization is funded through donations and focuses primarily on protocol-level research and engineering rather than product development.

Tyler Winklevoss issued a statement, noting that a “healthy Zcash ecosystem depends on multiple independent organizations contributing at the protocol level.”

He described Shielded Labs as an important part of that effort.

His brother Cameron added that their support for Zcash has spanned years, and this was attributed to their view of strong privacy being a core property of sound money.

Departure From ECC Heralds CashZ Wallet Electric Coin Company, which is the primary organization behind the creation and ongoing development of Zcash, recently faced an exodus of developers.

This was after a dispute with its board that led to the formation of a new company.

According to former CEO Josh Swihart, the departures were the result of ongoing conflict with the Bootstrap board, a nonprofit entity created to oversee the company and support the wider Zcash ecosystem.

At the time, the sudden Zcash developer exit raised concerns among investors, even as former leaders said the network itself would continue operating without disruption.

At the time, a drop of 10% in the Zcash price followed the news.

Meanwhile, former Zcash developers announced the release of the CashZ wallet in the first week of this year.

This marks their first move after leaving the Electric Coin Company. The CashZ wallet is built on the Zashi codebase, with easy user migration planned.

Users of the current Zashi wallet will be able to move to the CashZ wallet without friction once it launches.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Cryptocurrency News, News

Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.

Godfrey Benjamin on X

In brief Research from blockchain intelligence firm Elliptic indicates that Iran’s central bank acquired over $500 million in USDT last year. All of the identified USDT has now left Iran-linked wallets, with the central bank having used the stablecoin to support the price of the Iranian rial. Elliptic affirms that the use of stablecoins and blockchain may hinder rather than help sanctions evasion. The Central Bank of Iran acquired $507 million in Tether’s stablecoin USDT over the past year, as part of efforts to shore up the Iranian rial and settle international trade.

This is according to research by UK-based blockchain intelligence firm Elliptic, which has identified a network of cryptocurrency wallets that Iran’s central bank used to receive the USDT.

🚨 New Elliptic research: We have identified wallets used by Iran's Central Bank to acquire at least $507 million worth of cryptoassets.

The findings suggest that the Iranian regime used these cryptoassets to evade sanctions and support the plummeting value of Iran's currency,… pic.twitter.com/I7NHGO0wtP

— Elliptic (@elliptic) January 21, 2026

Leaked documents seen by Elliptic indicate that the CBI acquired USDT via two purchases in April and May of last year, making payment in UAE dirhams.

Speaking to Decrypt, Elliptic co-founder and chief scientist Tom Robinson explained that the leaked documents detail purchases made via an entity called Modex, which he suggests may be a crypto broker that is willing to do business with the Iranian government.

“We don't have visibility of the other sources but other OTC brokers are likely to be involved,” he said.

On the basis of the leads provided by the leaked documents, Elliptic has been able to construct a map of the CBI’s wallet network, which reveals a “systematic” accumulation of USDT amounting to at least $507 million.

The blog warns that this latter figure should be regarded as a “lower bound,” since it excludes wallets that couldn’t be attributed to the central bank with a high level of confidence.

Elliptic’s research also details how the CBI used the USDT once it had acquired it, with most being transferred to Iran's largest exchange, Nobitex.

However, this changed after June 2025, when pro-Israel hackers drained Nobitex of over $90 million in crypto.

After this hack, Elliptic reports that CBI-linked wallets sent their USDT to “a cross-chain bridge service” that converted the tokens from TRON-based USDT to Ethereum-based USDT.

The resulting USDT was then sent to various decentralized exchanges and converted into other digital assets, before being moved to other blockchains and to centralized exchanges.

This lasted until the end of 2025, with the $507 million in USDT ultimately leaving CBI-linked wallets.

“There is no USDT remaining in the wallets we've directly tied to the CBI,” Tom Robinson told Decrypt. “However, the CBI may well have other wallets that we're currently unaware of.”

Stablizing the rialElliptic’s blog also goes on to explain why the Iranian central bank may have wanted USDT, with the company suggesting that the main reason was to stabilize the price of the Iranian rial on foreign exchange markets.

As the report reads, “The routing of funds to Nobitex indicates a strategy of injecting US dollar liquidity into the local market to prop up the rial.”

Beyond that, it’s also likely that Iran used its USDT to settle international trades, since sanctions against the country prevent it from accessing SWIFT and other financial settlement infrastructure.

“Beyond domestic intervention, the CBI also appears to be constructing a ‘sanctions-proof’ banking mechanism that replicates the utility of international dollar accounts,” the blog states. “By treating USDT as "digital off-book eurodollar accounts", the regime creates a shadow financial layer capable of holding US dollar value outside the reach of U.S. authorities.”

Despite highlighting Iran’s use of USDT to operate financially in spite of sanctions, Elliptic also affirms that the transparency and programmability of stablecoins may actually “enable even more powerful sanctions enforcement.”

Its blog notes that Tether acted to disable wallets associated with the CBI in June of last year, ultimately freezing around $37 million in USDT.

Speaking to Decrypt, Tether said that it maintains a zero-tolerance policy towards the illicit use of USDT and its other tokens, and that it works closely with law enforcement throughout the world to identify and freeze assets associated with illegal activity.

The company said, “To date, Tether has collaborated with more than 310 law enforcement agencies across 62 countries and frozen over $3.8 billion in assets linked to criminal activity.”

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Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The market is mainly bearish, even though some coins are in the green zone, according to CoinStats.

BTC chart by CoinStatsBTC/USDThe price of Bitcoin (BTC) has gone up by 0.7% over the last day.

Image by TradingViewOn the hourly chart, the rate of BTC has bounced off the local resistance at $90,005. However, if the daily candle closes not far from that mark or above it, there is a chance to see an upward move to the $91,000 range tomorrow.

Image by TradingViewOn the longer time frame, the price of the main crypto is far from main levels, which means traders are unlikely to witness sharp moves soon. 

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In this case, sideways trading in the zone of $89,000-$91,000 is the most likely scenario until the end of the week.

Image by TradingViewA similar picture can be seen on the weekly chart. The volume has dropped, confirming the absence of bulls or bears' energy. All in all, there are low chances of seeing increased volatility by the end of the month.

Bitcoin is trading at $90,107 at press time.

Key NotesDavid Bailey, CEO of Bitcoin Magazine parent BTC Inc, leads Nakamoto Inc.as chairman and chief executive.The stock has declined roughly 95% from its May 2025 peak and received a NASDAQ delisting notice in December 2025.Healthcare operations continue through Kindly LLC while the Bitcoin business operates under Nakamoto Holdings Inc. KindlyMD, Inc. has changed its corporate name to Nakamoto Inc. following its merger with Nakamoto Holdings in 2025.

The rebrand aligns the company’s identity with its long-term Bitcoin BTC $89 305 24h volatility: 1.1% Market cap: $1.79 T Vol. 24h: $56.65 B treasury strategy.

Chairman and CEO David Bailey described the move as an effort to eliminate ambiguity around the company’s objectives and reinforce its role as a Bitcoin-focused enterprise.

The company’s common stock and warrants will continue trading under the NAKA and NAKAW ticker symbols, according to Nakamoto Inc.’s announcement.

The healthcare business will operate through Kindly LLC, a subsidiary it fully owns, while Nakamoto Holdings Inc. manages the Bitcoin operations.

Formerly KindlyMD, our parent company has rebranded to Nakamoto, unifying our corporate identity around our core focus: Bitcoin.

Nakamoto Inc. (NASDAQ: NAKA)

— Nakamoto (@nakamoto) January 21, 2026

Bitcoin Treasury Holdings Nakamoto Inc. holds approximately 5,398 Bitcoin worth around $480 million at current prices, according to data from BitcoinTreasuries.net.

The company ranks approximately 20th among public corporate Bitcoin holders globally.

The company acquired 5,764 BTC in August 2025 at an average price of $118,204 per coin for approximately $679 million.

Nakamoto subsequently used 367 BTC for strategic investments in Bitcoin-focused companies including Metaplanet Inc. in Japan and Treasury BV in the Netherlands.

Strategy, formerly MicroStrategy, holds 709,715 BTC valued at over $63 billion, making it the largest corporate Bitcoin treasury globally.

Nakamoto’s holdings represent less than 1% of Strategy’s treasury by comparison.

Regulatory Challenges The company received a NASDAQ delisting notice in December 2025 after its shares traded below the $1 minimum bid price threshold for 30 consecutive business days.

Nakamoto Inc. has until June 8, 2026 to regain compliance by maintaining a share price above $1 for at least 10 consecutive trading days.

NAKA stock price from February 2025 to January 2026. | Source: TradingView

The stock has declined approximately 95% from its May 2025 peak of around $34.77. Shares traded at approximately $0.42 on Jan. 20, giving the company a market capitalization of roughly $185 million.

The company had raised approximately $740 million from institutional investors to fund its Bitcoin acquisitions.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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As a Web3 marketing strategist and former CMO of DuckDAO, Zoran Spirkovski translates complex crypto concepts into compelling narratives that drive growth. With a background in crypto journalism, he excels in developing go-to-market strategies for DeFi, L2, and GameFi projects.

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