Today's top news highlights:

Regulatory news

Central banks around the world are drafting a statement to express their support for Federal Reserve Chairman Jerome Powell.

According to Jinshi News, central banks around the world are drafting a statement to express their support for Federal Reserve Chairman Jerome Powell. This joint statement is expected to be released under the name of the Bank for International Settlements (BIS).

DAXA, comprised of South Korea's five largest cryptocurrency exchanges, opposes the government's proposed shareholding cap.

The Korea Digital Asset Exchange Alliance (DAXA) issued a statement strongly opposing the government's consideration of capping the shareholding ratios of major shareholders in digital asset exchanges. On Tuesday, DAXA warned in a statement that the proposed restrictions could "severely hinder" the development of the country's digital asset industry and market, and that any attempt to artificially alter the equity structure of private companies would undermine the foundation of this emerging industry. DAXA is a self-regulatory organization representing South Korea's five largest cryptocurrency exchanges—Upbit, Bithumb, Korbit, Coinone, and Gopax.

The U.S. Senate Banking Committee is scheduled to submit the text of its latest bipartisan market structure bill before midnight.

According to crypto journalist Eleanor Terrett, the U.S. Senate Banking Committee plans to submit its latest bipartisan draft of a market structure bill before midnight local time. This comes after a heated debate over stablecoin yields, which have become the most contentious issue as Thursday approaches.

Project Updates

A new proposal from the PancakeSwap community suggests reducing the maximum CAKE supply to 400 million.

A new proposal from the PancakeSwap community suggests reducing the maximum supply of CAKE from 450 million to 400 million. The proposal states that since the CAKE Token Economics 3.0 proposal was adopted in April 2025 and the veCAKE model was discontinued, daily emissions have decreased from approximately 40,000 to approximately 22,500, resulting in a net burn of approximately 8.19% of the supply throughout the year. This has reduced the circulating supply from 380 million at the beginning of the year to approximately 350 million, maintaining a deflationary state. The proposal argues that a maximum supply of 400 million is sufficient to support all future growth needs of the protocol, and the current ecosystem growth fund has already accumulated approximately 3.5 million CAKE to support protocol development; therefore, the protocol is unlikely to revert to an inflationary state. This adjustment will leave a buffer of approximately 50 million CAKE between the current circulating supply and the new maximum supply, but the team anticipates that this will not need to be used.

Grayscale is considering including 36 tokens in the asset list of its future investment products.

According to official sources, Grayscale has released a new list of assets it is considering including in future Grayscale investment products, as well as a new list of assets already included in its product portfolio. Among them, the list of assets considered includes Aptos (APT), Arbitrum (ARB), Binance Coin (BNB), Celo (CELO), Mantle (MNT), MegaETH, Monad (MON), Polkadot (DOT), Toncoin (TON), Tron (TRX), Ethena (ENA), Euler (EUL), Hyperliquid (HYPE), Jupiter (JUP), Kamino Finance (KMNO), Lombard (BARD), Maple Finance (SYRUP), Morpho (MORPHO), Pendle (PENDLE), Plume Network (PLUME), Sky (SKY), ARIA Protocol (ARIAIP), Bonk (BONK), Playtron, Flock (FLOCK), Grass (GRASS), Kaito (KAITO), Nous Research, Poseidon, Virtuals Protocol (VIRTUAL), Worldcoin (WLD), DoubleZero (2Z), Geodnet (GEOD), Jito (JTO), Layer Zero (ZRO), Wormhole (W).

Binance: The minimum participation requirement for FOGO's Prime Sale is 200 Alpha Points.

Binance announced on its X platform that Binance Wallet users with 200 or more Binance Alpha Points can participate in the FOGO Prime Sale through the Alpha Events page. Participation in this TGE event will deduct 15 points.

The Democratic Party's political committee in the United States launched the cryptocurrency fundraising platform BlueVault.

According to Decrypt, the Democratic Party hopes to regain appeal to cryptocurrency-supporting voters and donors after its crushing defeat in the 2024 US presidential election by launching a new digital asset fundraising platform. BlueVault, which provides cryptocurrency fundraising services for Democratic political committees, went live on Monday, allowing campaigns to accept donations in Bitcoin and stablecoins. BlueVault founder Will Schweitzer stated that this move reflects growing concerns among Democrats that, despite their political divide, cryptocurrency native voters have largely shifted to the Republican Party due to the party's lack of compelling campaign strategies to attract them.

BlueVault aims to differentiate itself from Fairshake, the cryptocurrency super PAC that funded Republican campaigns in the last election, by supporting small-scale fundraising and direct interaction. Schweitzer stated that the timing of the platform's launch was driven by political momentum surrounding regulatory clarity. He pointed to the GENIUS Act, passed last summer, as a turning point, making it possible to build compliant cryptocurrency payment systems for campaigns under Federal Election Commission regulations. At launch, BlueVault supported Bitcoin and USDC, a choice made more for legal clarity than ideological considerations.

Binance Leverage will remove several trading pairs, including AUDIO/BTC and SUSHI/BTC.

According to the official announcement, Binance Leverage will remove the following leveraged trading pairs on January 15, 2026 at 14:00 (UTC+8):

Full margin leveraged trading pairs: AUDIO/BTC, SUSHI/BTC, MTL/BTC, IOTX/ETH, SLP/ETH, TRB/BTC, PYR/BTC, EGLD/BTC, ENS/BTC, APE/BTC, NEO/BTC, NMR/BTC, SHIB/DOGE, MINA/BTC.
Isolated margin trading pairs: AUDIO/BTC, CTSI/BTC, SUSHI/BTC, ATOM/ETH, MTL/BTC, WAN/BTC, MOVR/BTC, IOTX/ETH, OXT/BTC, SLP/ETH, TRB/BTC, PYR/BTC, STORJ/BTC, EGLD/BTC, YFI/BTC, ENS/BTC, FLUX/BTC, AUCTION/BTC, APE/BTC, REQ/BTC, NEO/BTC, NMR/BTC, SHIB/DOGE, MINA/BTC.

Flow: All counterfeit FLOW tokens have been recovered and will be destroyed on January 30th.

Flow issued an update on the attack incident on the X platform: its community governance committee has completed the final recovery of counterfeit FLOW tokens that were not liquidated in centralized exchanges including Binance and HTX. To date, all counterfeit tokens tracked by the forensic firm have been successfully recovered and are locked on-chain in isolation pending destruction, marking the completion of Phase 4 of the Segregated Recovery Program.

The Foundation plans to revoke the temporary elevated permissions used by the Community Governance Committee during the restoration operation on January 13, 2026. This emergency measure is the first of its kind in Flow's five-year history, and all its operations are transparent and auditable on-chain. The permanent destruction of counterfeit tokens is scheduled for January 30, 2026. During this period, external legal counsel and forensic partners are coordinating with exchanges to assess the impact on users. The Foundation is committed to fully cooperating with exchange partners to restore full functionality on all trading platforms as soon as possible. Coinbase, Kraken, and Gate have already restarted deposit and withdrawal services.

ZKsync Releases 2026 Roadmap: Focusing on Prividium, ZK Stack, and Airbender

ZKsync released its 2026 roadmap, focusing on three core directions: Prividium will expand its privacy engine into a "bank-grade stack," providing enterprises with cryptographic infrastructure with built-in privacy by default; ZK Stack will shift from a single-chain architecture to a "harmonized system," enabling application chains to operate seamlessly within the stack and natively integrating liquidity and shared infrastructure; and Airbender will evolve from the "fastest zkVM" to a "universal standard," prioritizing security, formal rigor, and developer experience, with its service scope extending beyond ZKsync and the Ethereum ecosystem to a wider range of use cases.

Analysis & Opinions

The U.S. Digital Asset Market Transparency Act may treat tokens such as XRP and SOL as having the same status as BTC and ETH.

According to Eleanor Terrett, the Digital Asset Market Transparency Act would treat XRP, SOL, LTC, HBAR, DOGE, and LINK as equivalent to BTC and ETH. The Act applies if these digital assets become underlying assets in exchange-traded products before January 1, 2026.

Yi Lihua: Both the macroeconomic environment and technical indicators suggest that we are currently at the dawn before a major crypto bull market.

Liquid Capital founder Jack Yi posted on the X platform, stating: "The US, China, and South Korea are the three main markets for the crypto industry, and all three stock markets are currently in a bull market. Large funds are mainly in the stock market and even heavy metals (gold, silver, rare earths, etc.). Coupled with the impact of the interest rate hike cycle and the fact that blockchain technology's impact on reality is not as expected, it has been a full four years since Bitcoin reached $69,000 in 2021. Apart from a slight increase in BTC value, ETH is far below its high point four years ago. This should be considered a lost four years for crypto investors. However, bull markets are often born in times of despair, especially with the arrival of the interest rate cut cycle, the globalization of stablecoins, crypto-friendly policies, and the application of blockchain in finance. Whether from the perspective of the macro environment or technical indicators, we are currently at the dawn before a major crypto bull market. Be greedy when others are fearful. The bull market may be slow, but it will be more exciting when it arrives. I also strongly agree with CZ's statement that a crypto supercycle is coming. Industry leaders such as BMNR, Strategy, Tether, Binance, and USD1 are all continuously buying."

Zhao Changpeng urged people not to blindly follow his tweets and invest in a certain Meme coin.

Binance founder Changpeng Zhao posted on the X platform: "I am not against Meme coins, and I like network Memes. However, if you blindly follow the trend and invest in every Meme coin that is created based solely on my random tweets, you will almost certainly lose money. I tweet as I please, telling boring and unfunny jokes, and most of the time I don't even consider Memes (this matter)."

A bipartisan text of the US crypto bill has been released: banks may gain the upper hand in the current debate over stablecoin yields.

According to crypto journalist Eleanor Terrett, a 278-page bipartisan text of the crypto market structure bill has been finalized after months of intense negotiations between Senate Republicans, Democrats, and industry figures. Banks may gain the upper hand in this round of the stablecoin yield debate. The latest draft (page 189) stipulates that companies cannot pay interest solely on user-held balances. Users can earn rewards, but only if the rewards are linked to activities such as opening an account, trading, staking, providing liquidity, collateralizing assets, or participating in network governance. Senators now have 48 hours to submit amendments to the bill text, so it is unclear whether these provisions will remain unchanged by Thursday.

Standard Chartered Bank predicts that Ethereum will reach $40,000 by 2030.

Important data

A whale opened three large short orders totaling $140 million, covering BTC, SOL, and ETH.

Whale 0x94d opened three large short orders: shorting approximately $69.93 million worth of BTC with 20x leverage, shorting approximately $50.3 million worth of SOL with 20x leverage, and shorting approximately $20 million worth of ETH with 20x leverage. The total size of the three large short orders was approximately $140 million.

Huang Licheng closed all his long positions in ZEC and HYPE and added to his long positions in ETH, incurring a total loss of over $1.62 million in the past week.

Hyperbot data shows that Huang Licheng, known as "Brother Machi," closed all his ZEC and HYPE long positions 14 hours and 4 hours ago, respectively, and increased his ETH long position (25x leverage) to 11,000 ETH (approximately $34.1396 million). His ETH long position entered at an average price of $3,135.02 and is currently showing a floating loss of approximately $360,000.

Huang Licheng's account currently has a total value of $1.82 million, with a total profit/loss of approximately $500,000 in the past day and a total profit/loss of over $1.62 million in the past week.

The "$20 million swing trader" reduced his short positions in BTC and PUMP, and shifted to a long position in ZEC.

According to HyperInsight monitoring, the "$20 million swing trader" reduced his short positions in BTC and PUMP in the past hour and switched to going long on ZEC, with his account currently showing a floating profit of $10.06 million.

This account belongs to a typical high-frequency quantitative strategy trader who uses a high-leverage short-selling strategy to consistently generate excess returns in volatile markets, accumulating profits of approximately $8.7 million in the past week.

PyShield: Crypto asset theft losses exceeded $4.04 billion in 2025, a record high.

According to PyDun's monitoring, cryptocurrency-related thefts reached a record high in 2025, primarily driven by systemic vulnerabilities in centralized infrastructure and a strategic shift towards targeted social engineering attacks.

Total losses in 2025 exceeded $4.04 billion, an increase of approximately 34.2% compared to the $3.01 billion stolen in 2024. This includes $2.67 billion in losses from hacking attacks (an increase of approximately 24.2% year-over-year) and $1.37 billion in losses from fraud (an increase of approximately 64.2% year-over-year). Of this, approximately $334.9 million of stolen cryptocurrency has been recovered or frozen, compared to $488.5 million in 2024.

ZK Nation: Voting on the ZK token upgrade proposal with permissionless burning functionality will begin at midnight on November 14th.

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