Crypto Morning Brief: Spot Gold Breaks Through $4,950, BitGo Lands on NYSE

marsbitPublished on 2026-01-23Last updated on 2026-01-23

Abstract

Crypto Morning Brief: Spot gold breaks through $4,950, reaching a new all-time high. Key U.S. economic data shows strong performance, with Q3 real GDP growth at 4.4%, the fastest in two years. Former President Trump announces a potential 25% tariff on countries trading with Iran and emphasizes blocking China from the crypto sector, to which China's Foreign Ministry responds by highlighting its active role in international financial cooperation. In crypto developments, Sentient and Fight.ID open token airdrop claims, while Space faces controversy after raising $20M instead of its stated $2.5M soft cap. World Liberty Financial partners with Spacecoin for DeFi and satellite internet solutions. Farcaster co-founder clarifies the protocol remains operational and will refund $180M in raised capital. BitGo debuts on the NYSE at $18 per share, marking the first major crypto IPO of 2026. Kraken receives a £25M investment from the British Business Bank, encouraging a potential London listing. Recommended reads cover topics like Web3 social dynamics, market reactions to geopolitical events, Fight.ID’s Web3 integration in sports, Jensen Huang’s views on AI-driven labor shortages, and an analysis of Trump’s decision-making principles.

Author: Deep Tide TechFlow

Yesterday's Market Dynamics

Spot Gold Broke Through $4950 This Morning, Hitting Another Record High

According to Bitget data, spot gold broke through the $4,950 per ounce mark in early trading this morning, setting another record high with a gain of 0.28%.

Key US Economic Data Released

Newly released data shows that the US third-quarter real GDP annualized quarter-on-quarter growth rate, adjusted for inflation, was 4.4%, the fastest growth rate in two years.

The US third-quarter core PCE price index annualized quarter-on-quarter growth rate final value was 2.9%, meeting expectations of 2.9%, unchanged from the previous value of 2.90%.

US initial jobless claims for the week ending January 17 were 200,000, compared to expectations of 210,000; the previous value was revised from 198,000 to 199,000.

Trump: Will Impose 25% Tariffs on All Countries Trading with Iran

According to Jin10 data, on the 22nd local time, US President Trump stated on Air Force One that his administration is closely monitoring Iran. He warned that a "massive fleet" from the US is heading towards Iran. When asked by reporters about the "secondary tariffs" imposed on Iran, he said the US government will impose 25% tariffs on all countries that engage in trade with Iran, and this measure will take effect soon. Trump's so-called "secondary tariffs" are not a professional term but essentially a monetary sanction measure imposed on countries that trade with nations "disliked" by the US. (CCTV)

In Response to Trump's Attempt to Block China from Entering the Cryptocurrency Field, Foreign Ministry Responds: China Actively Participates in International Financial Rule-Making

US President Trump stated at the Davos Forum that the US must take measures to prevent China from gaining a foothold in the cryptocurrency field to maintain US leadership in this area. In response, Chinese Foreign Ministry Spokesperson Guo Jiakun stated at the regular press conference on January 22 that China has always actively engaged in multilateral and bilateral monetary and financial cooperation, participated in global macro policy coordination and the formulation of international financial rules, and suggested directing specific questions to the relevant Chinese authorities.

Sentient Opens SENT Token Airdrop Claims

The AI platform Sentient announced that the SENT token airdrop claim is now open. All eligible users who completed the airdrop registration can connect their registered wallets to claim the token allocation. The claiming process requires ensuring the wallet holds approximately $3 worth of Ethereum to cover transaction fees.

Fight.ID: FIGHT Airdrop Claim Starts Tonight, Eligible Users Can Claim Within 30 Days

According to an official announcement from Fight.ID, the $FIGHT token airdrop will officially open for claiming at 20:00 today. Users must complete the claim through official channels within 30 days; unclaimed tokens after this period will expire.

The airdrop is divided into three parts: Crypto Community, Fight Community, and Builders & Partners. The claiming process is non-custodial and occurs on the Solana chain; users need to pay network fees.

Space Public Sale Sparks Controversy: Originally Aimed to Raise $2.5 Million, Actually Raised $20 Million, Team States It Will Retain $13 Million

According to SolanaFloor, the prediction market project Space (@intodotspace) has sparked controversy in its ICO. The project originally stated a target fundraising amount of $2.5 million but ultimately raised $20 million. The team stated it will retain $13 million, giving the project a fully diluted valuation of $69 million.

Regarding the fundraising amount far exceeding expectations, the Space team explained that $2.5 million was only a "soft cap," not a "hard cap." The team stated that $2.5 million could only sustain "a few months of operation" and represented only the minimum requirement for the initial launch, insufficient to support the multi-year construction of leveraged prediction market infrastructure.

World Liberty Financial and Spacecoin Form Strategic Partnership and Conduct Token Swap

According to Spacecoin, World Liberty Financial and the blockchain satellite network project Spacecoin have announced a strategic partnership and conducted a token swap. The two parties will jointly develop solutions integrating decentralized finance technology with satellite internet connectivity.

Spacecoin has successfully launched three satellites into orbit as part of its expanding satellite constellation. The project aims to provide permissionless global internet access. World Liberty Financial co-founder Zak Folkman stated that Spacecoin is addressing a real infrastructure problem by building space-based connectivity to expand internet access.

Farcaster Co-founder Clarifies: Farcaster Will Not Shut Down, Merkle to Refund $180 Million in Funding

Farcaster co-founder Dan Romero stated that the Farcaster protocol will not shut down and will continue to operate. Romero mentioned that Farcaster had 250,000 monthly active users and over 100,000 funded wallets in December. The acquirer, Neynar, is a venture-backed startup planning to steer Farcaster in a more developer-oriented direction.

Romero also stated that Merkle plans to fully refund the $180 million raised from investors. Over the past 5 years, the team has been committed to properly managing investor capital. He added that the funds for his previous home purchase came from Coinbase IPO proceeds.

BitGo Lands on NYSE Tonight, Becoming the First Cryptocurrency IPO of 2026

According to Cailian Press, BitGo Holdings will list on the New York Stock Exchange on January 22nd, Eastern Time, with shares priced at $18 each, above the previously announced price range of $15-$17. At the IPO price, the company's market capitalization is approximately $2.1 billion. BitGo will become the first cryptocurrency company to list on the US stock market in 2026. This IPO is led by Goldman Sachs and Citigroup. The company primarily provides digital asset custody and security services, with a net income of $8.1 million and revenue of $10 billion in the first nine months of 2025. Company CEO Mike Belshe will retain 56% of the voting rights after the listing.

British Business Bank Invests £25 Million in Kraken, Supporting Its London Listing

According to Techfunding News, the UK government, through the British Business Bank, has invested £25 million in Kraken, the technology division of Octopus Energy, aiming to encourage this tech company valued at $8.65 billion to choose a listing in London rather than overseas within the next 18 months.

Market Dynamics

Recommended Reading

Web3 Social: Still Dominated by the Chinese

This article discusses how Lens Protocol was taken over by Mask Network and Farcaster was acquired by its client Neynar, with the two protocols raising over $200 million in total funding. Mask Network founder Suji Yan is Chinese and is dedicated to bringing decentralized social networking from the lab into daily life. Western founders tend to be more idealistic, focusing on user data ownership and platform decentralization, while Chinese teams focus more on practicality and commercial value.

TACO Reappears: US Stocks Rebound, Crypto Market Remains Sluggish

This article discusses Trump's recent announcement canceling new tariffs on eight European countries and reaching a framework agreement on the future of Greenland and the Arctic, which quickly shifted market sentiment from panic to optimism, leading to a global stock market rally. However, this event also exposed deep-seated contradictions within the global financial system, such as the膨胀ing US fiscal deficit, European doubts about dollar credit, and the fragility of the global debt bubble. The cryptocurrency market performance remains sluggish, while gold prices fluctuate wildly between safe-haven fund inflows and outflows.

40 Events Annually, 700 Million Viewers: How is Fight.ID Leading World Events into Web3?

This article mainly introduces how the Web3 project Fight.ID is innovating in the blockchain field through the UFC event fan economy model, including the design, distribution, and application scenarios of its $FIGHT token, as well as the project's future development plans and potential challenges.

Jensen Huang: AI Won't Steal Jobs, But Will Cause Labor Shortages

This article records the conversation between NVIDIA CEO Jensen Huang and BlackRock CEO Larry Fink at the 2026 World Economic Forum, discussing the technological development of artificial intelligence (AI), infrastructure construction, its impact on the job market, and its profound impact on the global economy. Huang proposed that AI is the "largest infrastructure construction in human history" and described a five-layer structural model of the AI industry. He also emphasized the positive impact of AI on society, including enhancing productivity, creating employment opportunities, narrowing the technology gap, etc., and suggested that each country should establish its own AI infrastructure to promote national intelligence and technological sovereignty.

More Than Just a Madman: Trump's 11 Unchanging Decision-Making Principles Over 40 Years

This article reveals his 11 decision-making principles that have remained consistent over 40 years. These principles were applied not only during his time as a real estate developer but also throughout his presidential term. Beneath the surface of seemingly impulsive behavior lies precise strategy and clear goals.

Related Questions

QWhat was the final GDP growth rate for the US in Q3 after inflation adjustment, and why is it significant?

AThe inflation-adjusted US Q3 real GDP annualized quarter-on-quarter growth rate was 4.4%, which is the fastest growth rate in two years, indicating a strong and accelerating economy.

QWhat specific action did former President Trump threaten to take against countries trading with Iran, and what is its intended purpose?

AFormer President Trump threatened to impose a 25% tariff on all countries that engage in trade with Iran. This is intended as a monetary sanction to pressure Iran by economically isolating it.

QWhat was the controversy surrounding the Space ICO, and how did the team justify raising significantly more funds than initially stated?

AThe Space ICO sparked controversy because it raised $20 million against an initially stated goal of $2.5 million, with the team deciding to keep $13 million. The team justified this by stating the $2.5 million was only a 'soft cap' representing the minimum needed for initial operations, which would only last a few months, and that the larger sum was necessary to fund the multi-year development of a leveraged prediction market infrastructure.

QWhat milestone did BitGo achieve, and what are some key financial details from its public listing?

ABitGo achieved the milestone of becoming the first cryptocurrency company to have an IPO on the New York Stock Exchange (NYSE) in 2026. Key financial details include a stock price of $18 per share (above the expected range), giving the company a market capitalization of approximately $2.1 billion. The company reported net earnings of $8.1 million on revenue of $10 billion for the first nine months of 2025.

QAccording to the article, what was the core difference in approach between Western and Chinese founders in the web3 social space?

AAccording to the article, Western founders in the web3 social space tend to be more idealistic, focusing on user data ownership and platform decentralization. In contrast, Chinese founding teams place a greater emphasis on practicality and commercial value, aiming to bring decentralized social applications from the laboratory into everyday use.

Related Reads

The Value Distribution of Stablecoins

**Summary: The Value Distribution of Stablecoins** The article argues that stablecoins are evolving from mere trading tools into broader channels for dollar access. It divides the stablecoin ecosystem into four layers to analyze how value is distributed: 1. **Issuance Layer:** Mints stablecoins, holds reserve assets, and captures the spread between reserve yield and user costs (e.g., Tether, Circle). This layer currently earns the largest profit margin. 2. **Infrastructure Layer:** Connects stablecoins to the traditional financial system, handling fiat on/off-ramps, banking integration, compliance (KYC/AML), and asset management (e.g., Bridge, BVNK). This is the "unglamorous" but critical work, building the essential bridges between crypto and real-world finance. 3. **Acquiring/Distribution Layer:** Integrates stablecoins into merchant systems, manages payment flows, and provides enterprise financial software (e.g., Stripe, Coinbase). They act as the access point for businesses. 4. **Application Layer:** The end-users and businesses that ultimately use stablecoins for payments, settlements, or as a store of value. They benefit from convenience but have little pricing power. The core thesis is that while the issuance layer currently dominates profits, the often-overlooked **infrastructure layer holds significant long-term potential**. The real challenge and barrier to mass adoption is not the on-chain transfer of stablecoins (which is simple), but the complex "last mile" integration into existing business workflows, banking systems, and regulatory frameworks across different countries. Companies in this layer are currently in a "land grab" phase, investing heavily to build networks, secure bank partnerships, and establish compliance pathways. While their position is currently pressured by the profitable issuers above and distribution platforms below, the article suggests that if stablecoins become a default financial rail for businesses, the infrastructure providers who have done the hard work of integration will ultimately gain strong pricing power and become entrenched, essential players.

marsbit5h ago

The Value Distribution of Stablecoins

marsbit5h ago

The Value Distribution of Stablecoins

The Value Distribution of Stablecoins The article argues that stablecoins are evolving from a mere trading tool into a broad "dollar channel." It analyzes the industry's value chain through four layers: 1. **Issuance Layer (e.g., Tether, Circle):** The top layer that mints stablecoins, holds reserve assets, and captures the thickest interest rate spread. 2. **Infrastructure Layer (e.g., Bridge, BVNK):** Connects stablecoins to the traditional financial system, handling critical but complex "dirty work" like fiat on/off-ramps, banking integration, compliance (KYC/AML), and cross-border settlement. 3. **Acquiring/Distribution Layer (e.g., Stripe, Coinbase):** Embeds stablecoins into merchant systems, manages payment flows, and integrates with enterprise software. 4. **Application Layer:** End-users and businesses that ultimately use stablecoins for payments, settlement, or storing value. The author posits that while the issuance layer currently captures the most profit, the most overlooked and potentially critical layer is infrastructure. The core challenge for stablecoin adoption isn't the on-chain transfer (which is simple), but bridging the gap between blockchain and the real-world financial system. This involves solving practical problems for businesses: fiat conversion, reconciliation, tax handling, and user onboarding. Infrastructure companies are currently in a difficult "land-grab" phase—building networks, securing banking relationships, and achieving compliance country-by-country. They face pressure from both the profitable issuance layer above and distribution platforms below. However, the author suggests this layer is building a crucial moat. Once stablecoins become a default business rail, the infrastructure players who have done the hard work of integration may gain significant, durable value and pricing power.

链捕手5h ago

The Value Distribution of Stablecoins

链捕手5h ago

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