Crypto Morning Report: US December ADP Data Falls Short of Expectations, Solana Mobile Announces Launch of SKR Token

marsbitPublished on 2026-01-08Last updated on 2026-01-08

Abstract

Crypto Morning Brief: US December ADP employment data came in below expectations at 41K jobs, missing the forecast of 47K. Key regulatory developments include the US Senate preparing to review a crypto market structure bill, with increased industry lobbying efforts. The People's Bank of China continued to increase its gold reserves for the 14th consecutive month. In project news, Solana Mobile announced the official launch of its SKR token on January 21. Other notable updates: edgeX is transitioning from a Perp DEX to EDGE Chain, opBNB reduced its block time via a hard fork, and Rumble partnered with Tether to launch a non-custodial crypto wallet. Brazilian former central bank director Tony Volpon introduced a high-yield stablecoin, BRD, pegged to the Brazilian Real. Polymarket entered an exclusive data partnership with Dow Jones Media, and the Babylon protocol secured $15M in funding led by a16z Crypto.

Author: Deep Tide TechFlow

Yesterday's Market Dynamics

US December ADP Employment Change: 41K, Expected 47K

US December ADP employment change was 41,000, expected 47,000, previous value -32,000.

US Senate to Review Crypto Market Structure Bill Soon, Industry Ramps Up Lobbying Efforts

According to Crypto in America, the Senate Banking Committee plans to mark up the crypto market structure bill for discussion on January 15th. Currently, 13 pro-crypto senators are working to reach bipartisan consensus on issues such as ethics rules for public officials holding crypto and stablecoin yields. Simultaneously, the Senate Agriculture Committee is also preparing for a markup discussion next week. The crypto industry is intensifying its lobbying efforts, with representatives from over 40 companies set to hold an event on Capitol Hill this Thursday to discuss unresolved issues with senators.

China's Central Bank Increases Gold Holdings for the 14th Consecutive Month

People's Bank of China: China's gold reserves at the end of December stood at 74.15 million ounces (approx. 2,306.323 tons), an increase of 30,000 ounces (approx. 0.93 tons) month-on-month, marking the 14th consecutive month of increase.

WLFI Subsidiary Applies to OCC for US National Trust Bank Charter

According to the Wall Street Journal, World Liberty Financial stated that its subsidiary, World Liberty Trust, submitted a de novo application to the Office of the Comptroller of the Currency (OCC) on January 7th, seeking a US national trust bank charter to enable the direct issuance and custody of its dollar stablecoin, USD1. The company claimed that if approved, the trust bank would gradually launch crypto asset custody and stablecoin exchange services, primarily serving institutional clients.

Solana Mobile: SKR Token to Officially Launch on January 21st

Solana Mobile's official X account announced that the SKR token will officially launch on January 21st (UTC time).

Previous news indicated the token has a total supply of 10 billion. The token allocation includes: 30% for airdrops, 25% for growth and partnerships, 10% for liquidity, 10% for community treasury, 15% for Solana Mobile, and 10% for Solana Labs. The inflation mechanism follows a linear model, starting at 10% in the first year, decreasing by 25% annually, and eventually stabilizing at 2%. It is primarily targeted at Seeker device users and active dApp users.

edgeX Announces Transition from Perp DEX to EDGE Chain, Launches Pre TGE Season Event

edgeX officially announced it is transitioning from a Perpetual Contract Decentralized Exchange (Perp DEX) to EDGE Chain and is currently moving from a closed beta to an open beta. To support this transition, edgeX launched the Pre TGE Season event today, which will reward platform users for natural usage behavior through XP incentive units.

According to the official message, XP will be distributed weekly until the TGE (Token Generation Event) is completed, expected by or before March 31, 2026.

CZ: opBNB Has Completed Mainnet Hard Fork, Block Time Reduced from 500ms to 250ms

Binance founder CZ posted on social media, "opBNB just completed the mainnet hard fork about an hour ago. Block time reduced from 500ms to 250ms."

Listed Company Rumble Partners with Tether to Launch Crypto Wallet

Rumble Inc. (Nasdaq: RUM) and crypto giant Tether jointly announced on January 7, 2026, the launch of Rumble Wallet, a non-custodial crypto wallet directly into the Rumble platform.

According to the official press release, the wallet supports Tether (USDT), Tether Gold (XAUt), and Bitcoin (BTC), allowing viewers to tip creators directly with cryptocurrency, eliminating intermediaries like ad networks, banks, or payment processors.

MoonPay will provide on/off-ramp services for Rumble Wallet users, supporting conversions between traditional payment methods like credit cards, Apple Pay, PayPal, and Venmo and cryptocurrencies.

Former Brazilian Central Bank Official Launches High-Yield Stablecoin BRD, Pegged to the Real

According to CoinDesk, former Brazilian Central Bank director Tony Volpon announced the launch of an innovative stablecoin, BRD, pegged to the Brazilian Real and backed by Brazilian government bonds. BRD will offer holders a high yield share of up to 15%, significantly above the Fed's benchmark rate of 3.5%-3.75%.

Volpon stated on CNN Brazil's "Cripto na Real" program that BRD aims to make it easier for foreign investors to access Brazil's high-yield environment, while potentially supporting demand for Brazilian government bonds by broadening the investor base, thus reducing government borrowing costs.

Polymarket Enters Exclusive Partnership with Dow Jones Media

Prediction market platform Polymarket has entered an exclusive partnership with Dow Jones Media to provide prediction market data to media outlets including Barron's and The Wall Street Journal.

Decentralized Protocol Babylon Raises $15 Million in Round Led by a16z Crypto

According to Fortune magazine, the decentralized protocol Babylon, co-founded by Stanford professor David Tse, has raised $15 million. The round was led by Andreessen Horowitz's a16z Crypto, with the project's valuation undisclosed.

Market data shows BABY briefly surged over 15%, currently trading at $0.0209, with an FDV of approximately $200 million.

Market Dynamics

Circle's Q2 Earnings Report is Out, Does It Answer Wall Street's Bull-Bear Split?

Circle released its Q2 2026 financial results. Total revenue and reserve income reached $7.01B, slightly below expectations but reversing a previous declining trend. Adjusted EBITDA was $143M, and net income from continuing operations was $48M. Key financial metrics showed mixed signals. USDC's average circulation grew to $76.5B, but the quarter-end circulation shrank to $73.3B, and its market share among dollar stablecoins slightly declined. Reserve income remained the primary revenue driver at $6.68B. Other revenue was $34M, down sequentially, but the full-year guidance for this segment was nearly doubled to $3.1-3.3B, mainly due to the inclusion of ARC token pre-sale revenue. The core RLDC Margin held strong at 41%. Operationally, the Arc network mainnet is scheduled for launch on September 16th, with major validators like BlackRock and Visa. The Circle Payments Network (CPN) showed significant growth in transaction volume. The company also secured key regulatory approvals, including a federal trust charter from the OCC. The report highlighted Wall Street's ongoing valuation debate. Morgan Stanley's downgrade reflects concerns about USDC growth and over-reliance on interest income. TD Cowen's bullish view finds support in Circle's expanding infrastructure platform, including Arc and CPN. The earnings confirm Circle's strategic pivot towards building a broader digital finance platform, but the success of this transition in generating sustainable non-interest revenue remains to be seen in future quarters.

marsbit4m ago

Circle's Q2 Earnings Report is Out, Does It Answer Wall Street's Bull-Bear Split?

marsbit4m ago

Circle's Q2 Earnings Report Released, Has the Wall Street Bull-Bear Divide Been Resolved?

Circle's Q2 2026 earnings report presents a mixed picture. While total revenue of $701 million slightly missed expectations, it reversed a recent declining trend. A key concern is USDC's circulation, which grew on average but fell 4.8% quarter-over-quarter by the period's end, contributing to a slight market share loss. Revenue remains heavily reliant on USDC reserve income. Notably, the company significantly raised its full-year "Other Revenue" guidance to $310-330 million, largely due to the one-time recognition of ARC token presale revenue. Its core profitability metric, RLDC Margin, held steady at 41%. Strategically, Circle is advancing its platform vision. The Arc network mainnet launch is set for September with major institutional validators like BlackRock and Visa. Its payment network (CPN) transaction volume is growing rapidly, and it secured key federal and state trust bank charters in the U.S. The report reflects the ongoing Wall Street debate: whether Circle's value lies primarily in its USDC stablecoin business or its broader digital infrastructure ambitions. Evidence exists for both views, leaving the long-term validation of its platform strategy to future quarters.

Odaily星球日报10m ago

Circle's Q2 Earnings Report Released, Has the Wall Street Bull-Bear Divide Been Resolved?

Odaily星球日报10m ago

ChangXin's "Peer": The Fate of Fujian Jinhua Integrated Circuit Co., Ltd. Is Regrettable

China's DRAM industry saw a pivotal moment with ChangXin's (CXMT) successful IPO. However, the fate of its 2016 counterpart, Fujian Jinhua Integrated Circuit, offers a stark contrast. Both were founded the same year with similar missions, massive investment, and 12-inch wafer fab goals to break into the DRAM market dominated by Samsung, SK Hynix, and Micron. Fujian Jinhua initially progressed faster by partnering with Taiwan's United Microelectronics Corporation (UMC) for 32nm DRAM technology. This strategy, however, led to a protracted legal battle. In 2017, Micron sued UMC and Jinhua for trade secret theft. The situation escalated in October 2018 when the U.S. Commerce Department added Fujian Jinhua to its Entity List, citing its imminent mass production as a threat. This resulted in an immediate halt of equipment, software, and technical support from American suppliers, followed by UMC suspending cooperation. Although Jinhua was eventually cleared of criminal charges in late 2023 after a nearly six-year legal saga, it missed the critical industry growth window. In contrast, ChangXin took a different path from the start, focusing on building its own R&D system and securing intellectual property, notably through a license for former Qimonda patents. While also facing U.S. scrutiny and initial heavy losses, ChangXin benefited from a more mature domestic supply chain when it reached mass production. It achieved profitability in 2025 and represents the rise of China's DRAM industry. Jinhua's story is a crucial lesson. It was the first Chinese DRAM company to confront the complex realities of international IP disputes, export controls, and supply chain vulnerabilities. Today, it has resumed operations with a 40,000 wafers-per-month capacity, aiming for 60,000. While it missed its initial opportunity, its experience informed the strategic evolution of later Chinese semiconductor firms.

marsbit25m ago

ChangXin's "Peer": The Fate of Fujian Jinhua Integrated Circuit Co., Ltd. Is Regrettable

marsbit25m ago

Crypto Fear and Greed Index Rises Over Last 24 Hours! Has It Exited the Fear Zone? Here are the Details

The Crypto Fear and Greed Index, a key indicator measuring investor sentiment in the cryptocurrency market, showed a limited recovery over the past 24 hours. According to data from CoinMarketCap, the index rose by 2 points to reach 37. Despite this increase, the indicator remains in the "Fear" zone, reflecting a continued cautious approach among investors. The index, which ranges from 0 (extreme fear) to 100 (extreme greed), suggests that while there is a slight improvement in investor confidence, market participants are still largely risk-averse. CoinMarketCap calculates the index by considering factors such as the price movements of the top 10 cryptocurrencies, overall market volatility, derivatives market data (like put/call ratios), stablecoin supply ratios, and user search data. Analysts note that the modest index rise points to a slight easing of market panic. However, its persistence in the fear zone indicates ongoing investor caution due to macroeconomic events, interest rate policies, and regulatory uncertainty. Experts suggest that for a sustained improvement in sentiment, increased trading volumes and stronger institutional capital inflows are necessary. Key factors expected to influence market mood in the coming period include capital flows into spot Bitcoin and Ethereum ETFs and developments in global monetary policy. While the index alone is not a sufficient tool for investment decisions, its potential to exit the fear zone is seen as a significant signal for the future direction of the crypto market.

cryptonews.ru25m ago

Crypto Fear and Greed Index Rises Over Last 24 Hours! Has It Exited the Fear Zone? Here are the Details

cryptonews.ru25m ago

Circle Q2 revenue falls short of Wall Street estimates

Circle reported second-quarter fiscal 2026 revenue and reserve income of $701 million, a 7% year-over-year increase, but slightly missed Wall Street estimates averaging $713.32 million. Net income from continuing operations was $48 million. The company noted a 5% rise in reserve income, driven by a 25% increase in average USDC circulation. Despite the earnings miss, shares rose 5.7% in pre-market trading. Circle announced the founding validators for its upcoming Arc blockchain, set to launch on September 16, including major firms like BlackRock, Visa, and Mastercard. Management raised its full-year guidance for other revenue, which includes Arc token presale revenue, to $310-$330 million from $150-$170 million. The results come amid a broader stablecoin market contraction, with total supply falling to $153 billion. Circle's USDC, with a $72 billion circulating supply, remains the second-largest stablecoin. According to a Talos spokesperson, USDC facilitated 72% of the $15.6 trillion in adjusted on-chain transfer volume in the quarter.

cointelegraph1h ago

Circle Q2 revenue falls short of Wall Street estimates

cointelegraph1h ago

Trading

Spot