Author: Shenchao TechFlow
Yesterday's Market Dynamics
Multiple Institutions Predict Fed's Earliest Rate Cut Timing to Be Delayed
According to Jinshi Data, multiple institutions predict the Fed's earliest rate cut timing will be delayed:
Citigroup: Expects the Fed to cut rates by 25 basis points each in March, July, and September, previously predicted cuts in January, March, and September this year.
Goldman Sachs: Expects the Fed to implement a 25 basis point rate cut each in June and September this year, previously expected in March and June.
Barclays: Expects the Fed to implement a 25 basis point rate cut each in June and December this year, previously expected in March and June.
Morgan Stanley: Expects the Fed to implement a 25 basis point rate cut each in June and September, previously predicted for January and April this year.
JPMorgan: No longer expects the Fed to cut rates in 2026, anticipates a rate hike in 2027. Previously expected a 25 basis point cut in January, now forecasts a 25 basis point hike in Q3 2027.
Multiple Former Fed Chairs Support Powell, Calling Criminal Investigation an "Unprecedented" Attack on Fed Independence
According to Jinshi Data, former Fed Chairs Yellen, Bernanke, and Greenspan issued a statement supporting current Fed Chair Powell. The group stated the criminal investigation against Powell is an "unprecedented" attack on the Fed's independence.
CFTC Chair Selig Establishes Innovation Committee to Strengthen Digital Asset and Prediction Market Regulation
According to The Block, new U.S. Commodity Futures Trading Commission (CFTC) Chair Michael Selig announced on January 12 the renaming of the Technology Advisory Committee to the Innovation Advisory Committee and plans to appoint members of the CEO Innovation Committee as charter members. This committee will include industry leaders such as Polymarket CEO Shayne Coplan, Kalshi CEO Tarek Mansour, and Gemini CEO Tyler Winklevoss.
Selig stated: "Innovators are using technologies like AI, blockchain, and cloud computing to modernize traditional financial systems and build entirely new ones. Under my leadership, the committee will develop fit-for-purpose market structure regulations for new frontiers in finance."
Former NYC Mayor Eric Adams Announces Launch of "NYC Token"
According to Fortune, former New York City Mayor Eric Adams announced after leaving office the launch of a cryptocurrency called "NYC Token," stating the project aims to raise funds to combat anti-Semitism, anti-American sentiment, and promote blockchain education for children. Adams introduced the token in Times Square but did not disclose partners, issuance timing, fund usage, or specific mechanisms, only stating that ordinary New Yorkers can participate in the investment. Adams strongly supported the crypto industry during his tenure but also faced controversy over ethics and conflict of interest issues. New Mayor Zohran Mamdani has explicitly stated he will not purchase the token.
Dubai to Ban Privacy Tokens and Tighten Stablecoin Regulations, New Regulatory Framework Effective January 12
According to CoinDesk, the Dubai Financial Services Authority (DFSA) has completely banned privacy tokens in the Dubai International Financial Centre (DIFC), citing incompatibility with global compliance standards and risks related to money laundering and sanction compliance.
The updated crypto token regulatory framework, effective January 12, shifts token approval responsibility to businesses and tightens the definition of stablecoins. The DFSA limits the "fiat crypto token" category to tokens pegged to fiat currency and backed by high-quality liquid assets, capable of meeting redemption demands during market stress. Algorithmic stablecoins like Ethena are not considered stablecoins under the DIFC framework but are classified as crypto tokens.
DFSA Deputy Director of Policy & Legal, Elizabeth Wallace, stated that privacy tokens have features that hide transaction history and holders, making it nearly impossible for businesses to comply with Financial Action Task Force (FATF) requirements. The new rules also prohibit regulated firms from using or providing privacy tools like mixers or tumblers that obscure transaction details.
South Korea Ends Nine-Year Corporate Crypto Ban, Allows 5% Equity Investment in Top 20 Cryptocurrencies
According to Be in Crypto, South Korean Financial Services Commission (FSC) has officially approved listed companies and professional investors to invest up to 5% of their equity annually in the top 20 cryptocurrencies by market cap, ending a ban in place since 2017. Approximately 3,500 eligible entities will be permitted market access.
WLFI Launches Lending Market Powered by Dolomite
According to market news, WLFI has launched a lending market powered by Dolomite.
Bloomberg: WLFI Crypto Lending Platform Named "World Liberty Markets," Supports ETH, USD1, USDT, etc.
According to Bloomberg, the Trump family's crypto project World Liberty Financial has launched a platform allowing users to lend digital assets to each other, named "World Liberty Markets." The service will officially launch on Monday. In addition to Ethereum, stablecoins USDC and USDT, it will also support the company's own token WLFI and stablecoin USD1.
Bloomberg: Standard Chartered Plans to Establish Crypto Custody Brokerage Services
According to Bloomberg, Standard Chartered plans to establish cryptocurrency custody brokerage services to strengthen its competitiveness in the digital asset space.
Sources reveal that the London-based bank will set up this new business within its wholly-owned venture capital arm, SC Ventures. Placing the new business within SC Ventures may help Standard Chartered avoid the strict capital requirements for digital assets in its corporate and investment bank.
BitGo Plans US IPO, Aims to Raise Up to $201 Million
According to Reuters, crypto asset custody startup BitGo stated in a regulatory filing on Monday that it plans to raise up to $201 million in a US Initial Public Offering (IPO).
BitMine: Will Slow ETH Accumulation Speed Without Shareholder Approval
According to CoinDesk, BitMine company chairman Thomas Lee stated on Monday that BitMine's ability to continue accumulating ETH depends on whether shareholders approve the issuance of new shares. Without approval, the company may be forced to slow its purchasing pace in the coming weeks. Lee explained: "BitMine is about to exhaust its current authorization of 500 million shares, at which point our ETH accumulation will slow down." A related shareholder vote is scheduled for this Thursday, and the proposal requires support from 50.1% of the issued shares to pass.
Market Dynamics
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