Crypto Morning Brief: SEC Ends Multi-Year Investigation into Zcash Foundation, Solana Mobile Opens SKR Airdrop Inquiry

marsbitPublished on 2026-01-15Last updated on 2026-01-15

Abstract

Crypto Morning Brief: Key updates include the U.S. SEC closing its multi-year investigation into the Zcash Foundation with no enforcement action. The U.S. November PPI met expectations at 0.2% monthly. Over 130 crypto-related amendments were submitted by U.S. senators ahead of a market structure hearing, covering areas like stablecoin yields. In China, a former central bank digital currency official was reported to have received ETH for assisting an ICO. Solana Mobile opened eligibility checks for its upcoming SKR airdrop, distributing nearly 2 billion tokens. OpenSea is developing a new mobile app and Hyperliquid Perps product. FTX announced its next distribution round is scheduled for March 31, 2026, with a $2.2B reduction in disputed claim reserves. Investment firm TD Cowen lowered MicroStrategy’s price target but remains bullish on Bitcoin, forecasting prices up to $226K by 2027. Strive acquired Semler Scientific, becoming the 11th largest corporate Bitcoin holder. A lawsuit was refiled against Pump.fun and Solana executives, alleging market manipulation.

Author: Deep Tide TechFlow

Yesterday's Market Dynamics

US November PPI MoM 0.2%, Expected 0.2%

According to Jinshi data, the US November PPI MoM was 0.2%, meeting the expectation of 0.2%. The US November PPI YoY was 3%, compared to an expectation of 2.7%.

US Senators Submit Over 130 Crypto Bill Amendments, Covering Stablecoin Yields and More

According to CoinDesk, US senators have submitted over 130 amendments ahead of an upcoming hearing on crypto market structure legislation. These amendments cover a wide range of topics, including banning stablecoin yields, restricting public officials from profiting from crypto assets, and redefining digital asset mixers. The base text of the Banking Committee's bill was released at midnight on Monday and will be discussed and voted on this Thursday. Some amendments have received bipartisan support, such as a modification to the stablecoin yield section jointly proposed by Senators Tillis and Alsobrooks.

SEC Ends Multi-Year Investigation into Zcash Foundation, Will Not Take Enforcement Action

According to The Block, the US Securities and Exchange Commission (SEC) has ended its multi-year investigation into the Zcash Foundation. The non-profit organization announced in a blog post on Wednesday that the SEC will not take any enforcement action against it. The Zcash Foundation stated that it received a subpoena from the SEC in August 2023 related to an investigation into "certain crypto asset issuance matters (SF-04569)".

CCTV: Former Digital Currency Research Institute Director Yao Qian Received 2,000 ETH Reward for Assisting ICO

According to a CCTV report, former Digital Currency Research Institute Director Yao Qian, at the request of businessman Zhang Mou who was conducting an ICO in 2018, asked an exchange to assist with listing. The ICO successfully raised 20,000 Ether (ETH), and Zhang Mou subsequently transferred 2,000 ETH to Yao Qian as a reward. Investigators found a hardware wallet in Yao Qian's office drawer.

The task force also discovered multiple bank accounts opened under other people's identities by Yao Qian as "shell accounts." One sum of 10 million yuan, after approximately four layers of fund transfers, originated from a virtual currency trader's fund account and was ultimately used to purchase a villa in Beijing.

Solana Mobile Opens SKR Airdrop Eligibility Query, Claiming Starts January 21

Solana Mobile officially announced that the SKR token allocation query tool is now live in the Seed Vault wallet. Users can open the Seed Vault wallet and click the "Activity Tracking" tab to check their allocation tier. Based on user interactions with the Seeker device, the Solana dApp store, and on-chain activities during Season 1, SKR tokens are divided into five allocation tiers: Sovereign (750,000 SKR), Luminary (125,000 SKR), Vanguard (40,000 SKR), Prospector (10,000 SKR), and Scout (5,000 SKR).

This airdrop will distribute nearly 2 billion SKR tokens to the community in total, with approximately 1.82 billion allocated to 100,908 users and about 141 million allocated to 188 developers, covering both user and developer groups.

SKR claiming will officially open on January 21 at 02:00 (UTC). Eligible participants can check their personal allocation amount and corresponding tier in advance and should prepare a small amount of SOL to pay for on-chain gas fees incurred during claiming.

Fogo: Airdrop Query Page is Live, Claiming Officially Starts on January 15

SVM L1 blockchain project Fogo announced that its airdrop query page is now live, and claiming will officially start on January 15.

OpenSea to Soon Launch New Mobile App and Hyperliquid Perps Product

OpenSea CMO Adam Hollander recently revealed that the team is actively developing a mobile app and a Hyperliquid Perps product, to be launched soon. The new app will offer the functional experience of 'all assets, all positions, all wallets, all chains, all integrated in one place.' Meanwhile, preparations for the OpenSea Foundation TGE (Token Generation Event) are underway, with historical trading volume being a key consideration factor. The reward program will continue until after the TGE, with half of the fees from each round going into the reward pool.

Investment Bank TD Cowen Lowers Strategy Target Price to $440

According to The Block, investment bank TD Cowen has lowered its one-year target price for bitcoin reserve company Strategy (formerly MicroStrategy) from $500 to $440, citing declining bitcoin yield due to ongoing equity and preferred stock issuance.

Analysts expect Strategy to acquire approximately 155,000 bitcoin in fiscal year 2026, a significant increase from the previous expectation of 90,000, but these acquisitions will be primarily financed through common and preferred stock offerings, diluting the bitcoin yield.

Despite the target price cut, analysts remain optimistic about Strategy's value as a bitcoin investment vehicle and predict the bitcoin price will reach approximately $177,000 by December 2026 and $226,000 by December 2027.

FTX: Next Distribution Round Expected to Begin March 31, Disputed Claim Reserve Reduced by $2.2 Billion for Distribution

FTX announced today that the record date for the next distribution for allowed claim holders is set for February 14, 2026, with distribution expected to begin on March 31, 2026. Simultaneously, FTX has filed a amended notice planning to reduce the $2.2 billion reserve for disputed claims. Subject to court approval, these funds will be released for distribution to allowed claim holders.

Burwick Law Firm Refiles Lawsuit Against Pump.fun and Solana Executives

According to DLNews, the Burwick Law firm has refiled a lawsuit against Pump.fun and Solana executives, accusing them of creating a "manipulated illegal gambling platform." Internal messages cited in the lawsuit show that Pump.fun co-founder Alon Cohen admitted that "most people lose money." The plaintiffs claim the platform's priority fee mechanism allows specific users to get a head start at token launch and allege that certain crypto influencers promoted tokens without disclosing compensation. Although the allegations are serious, the lawsuit lacks conclusive evidence proving the executives directly profited. The judge has allowed the plaintiffs to file an amended complaint containing 5,000 private messages.

Strive Acquires Semler Scientific, to Become World's 11th Largest Corporate Bitcoin Holder

Strive, Inc. (Nasdaq: ASST) announced it has received shareholder approval from Semler Scientific (Nasdaq: SMLR) to acquire the latter in an all-stock transaction. Upon completion of the transaction, Strive will acquire Semler Scientific's holding of 5,048.1 bitcoin, bringing the company's total holdings to 12,797.9 bitcoin, surpassing Tesla and Trump Media & Technology Group to become the world's 11th largest corporate bitcoin holder. Strive plans to divest Semler Scientific's medical device business within 12 months after the transaction and repay its $100 million convertible bond and $20 million Coinbase loan.

Market Trends

North Korean Hackers Loot $500 Million in a Single Month, Becoming the Top Threat to Crypto Security

North Korean hackers, particularly the notorious Lazarus Group and its subgroup TraderTraitor, have stolen over $500 million from cryptocurrency DeFi platforms in less than three weeks, bringing their total theft for the year to over $700 million. Recent major attacks on Drift Protocol and KelpDAO, resulting in losses of approximately $286 million and $290 million respectively, highlight a strategic shift: instead of targeting core smart contracts, attackers are now exploiting vulnerabilities in peripheral infrastructure. For instance, the KelpDAO attack involved compromising downstream RPC infrastructure used by LayerZero's decentralized validation network (DVN), allowing manipulation without breaching core cryptography. This sophisticated approach mirrors advanced corporate cyber-espionage. Additionally, North Korea has systematically infiltrated the global crypto workforce, with an estimated 100 operatives using fake identities to gain employment at blockchain companies, enabling long-term access to sensitive systems and facilitating large-scale thefts. According to Chainalysis, North Korean-linked hackers stole a record $2 billion in 2025, accounting for 60% of all global crypto theft that year. Their total historical crypto theft has reached $6.75 billion. Post-theft, they employ specialized money laundering methods, heavily relying on Chinese OTC brokers and cross-chain mixing services rather than standard decentralized exchanges. Security experts, while acknowledging the increased sophistication, emphasize that many attacks still exploit fundamental weaknesses like poor access controls and centralized operational risks. Strengthening private key management, limiting privileged access, and enhancing coordination among exchanges, analysts, and law enforcement immediately after an attack are critical to improving defense and fund recovery chances. The industry's challenge now extends beyond secure smart contracts to safeguarding operational security at the infrastructure level.

marsbit28m ago

North Korean Hackers Loot $500 Million in a Single Month, Becoming the Top Threat to Crypto Security

marsbit28m ago

Circle CEO's Seoul Visit: No Korean Won Stablecoin Issuance, But Met All Major Korean Banks

Circle CEO Jeremy Allaire's recent activities in Seoul indicate a strategic shift for the company, moving away from issuing a Korean won-backed stablecoin and instead focusing on embedding itself as a key infrastructure provider within Korea’s financial and crypto ecosystem. Despite Korea accounting for nearly 30% of global crypto trading volume—with a market characterized by high retail participation and altcoin dominance—Circle has chosen not to compete for the role of stablecoin issuer. Instead, Allaire met with major Korean banks (including Shinhan, KB, and Woori), financial groups, leading exchanges (Upbit, Bithumb, Coinone), and tech firms like Kakao. This approach reflects a broader industry transition: the core of stablecoin competition is shifting from issuance rights to systemic positioning. With Korean regulators still debating whether banks or tech companies should issue stablecoins, Circle is avoiding regulatory uncertainty by strengthening its role as a service and technology partner. The company is deepening integration with trading platforms, building connections, and promoting stablecoin infrastructure. This positions Circle to benefit regardless of which entity eventually issues a won stablecoin. Allaire also noted the potential for a Chinese yuan stablecoin in the next 3–5 years, underscoring a regional trend of stablecoins becoming more regulated and integrated with traditional finance. Ultimately, Circle’s strategy highlights that future influence in the stablecoin market will belong not necessarily to the issuers, but to the foundational infrastructure layers that enable cross-system transactions.

marsbit55m ago

Circle CEO's Seoul Visit: No Korean Won Stablecoin Issuance, But Met All Major Korean Banks

marsbit55m ago

SpaceX Ties Up with Cursor: A High-Stakes AI Gambit of 'Lock First, Acquire Later'

SpaceX has secured an option to acquire AI programming company Cursor for $60 billion, with an alternative clause requiring a $10 billion collaboration fee if the acquisition does not proceed. This structure is not merely a potential acquisition but a strategic move to control core access points in the AI era. The deal is designed as a flexible, dual-path arrangement, allowing SpaceX to either fully acquire Cursor or maintain a binding partnership through high-cost collaboration. This "option-style" approach minimizes immediate regulatory and integration risks while ensuring long-term alignment between the two companies. At its core, the transaction exchanges critical AI-era resources: SpaceX provides its Colossus supercomputing cluster—one of the world’s most powerful AI training infrastructures—while Cursor contributes its AI-native developer environment and strong product adoption. This synergy connects compute power, models, and application layers, forming a closed-loop AI capability stack. Cursor, founded in 2022, has achieved rapid growth with over $1 billion in annual revenue and widespread enterprise adoption. Its value lies in transforming software development through AI agents capable of coding, debugging, and system design—positioning it as a gateway to future software production. For SpaceX, this move is part of a broader strategy to evolve from a aerospace company into an AI infrastructure empire, integrating xAI, supercomputing, and chip manufacturing. Controlling Cursor fills a gap in its developer tooling layer, strengthening its AI narrative ahead of a potential IPO. The deal reflects a shift in AI competition from model superiority to ecosystem and entry-point control. With programming tools as a key battleground, securing developer loyalty becomes crucial for dominating the software production landscape. Risks include questions around Cursor’s valuation, technical integration challenges, and potential regulatory scrutiny. Nevertheless, the deal underscores a strategic bet: controlling both compute and software development access may redefine power dynamics in the AI-driven future.

marsbit1h ago

SpaceX Ties Up with Cursor: A High-Stakes AI Gambit of 'Lock First, Acquire Later'

marsbit1h ago

Ripple’s Tokenization Bet: Will XRP Price Explode As It Enters This Trillion-Dollar Industry?

Institutional capital is quietly moving onto the XRP Ledger (XRPL), with over $333 million in tokenized US Treasury products now live from firms like BlackRock-backed Ondo Finance, OpenEden, Guggenheim, and abrdn. This marks a significant shift for XRPL, traditionally known for payments, into the tokenized real-world asset sector. While still a tiny fraction of the $30+ trillion Treasury market, XRPL's tokenized assets grew 2,200% in 2025. Experts project the global tokenization market could reach $200 trillion. If XRPL captures a notable share as this market scales, it could have significant implications for the price of XRP.

bitcoinist2h ago

Ripple’s Tokenization Bet: Will XRP Price Explode As It Enters This Trillion-Dollar Industry?

bitcoinist2h ago

Bitcoin Could Strengthen US National Security, Top Military Commander Says

US lawmakers advocate for domestic Bitcoin mining equipment production, citing national security risks from foreign hardware dependence. Admiral Samuel Paparo, commander of US Indo-Pacific Command, testified to the Senate Armed Services Committee that Bitcoin is a tool for "power projection" and cybersecurity. He emphasized Bitcoin's proof-of-work system as a costly deterrent against network attacks, aligning it with US national power instruments. This echoes earlier military perspectives, like US Space Force's Jason Lowery, who argued Bitcoin's utility beyond finance. The hearing also addressed cyber threats, including North Korea's crypto theft for weapons funding. While the US leads in Bitcoin holdings and mining, reliance on overseas-manufactured mining hardware remains a vulnerability.

bitcoinist4h ago

Bitcoin Could Strengthen US National Security, Top Military Commander Says

bitcoinist4h ago

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