Last night's and this morning's important news (January 11 - January 12)

Vitalik: Hopes X Algorithm Open-Source Mechanism Has Verifiability and Reproducibility

In response to “Elon Musk states that a new X platform algorithm will be open-sourced within 7 days, with this process repeating every four weeks,” Ethereum co-founder Vitalik Buterin commented: “If managed properly, this is a good move. I hope the mechanism has verifiability and reproducibility. While it can’t solve all problems, it can effectively address the long-standing demands for algorithm transparency from myself and many others. Moreover, I actually think four weeks might be a bit optimistic, as it implies the algorithm needs frequent updates to prevent exploitation. Algorithms indeed need to be verifiable and reproducible, so users who feel blocked, downgraded, etc., can review the execution code and understand why their posts aren’t getting views.”

Pump.fun Launches Creator Fee Sharing Feature

Pump.fun announced on X platform the launch of a creator fee sharing feature, allowing fees to be distributed to up to 10 wallets; creators can now transfer token ownership and revoke update permissions. More updates are coming soon.

Spot Silver Hits Record High

According to Jinshi, spot silver broke two-week highs, reaching a record high, currently at $83.9/oz.

Stablecoin Payment Company PhotonPay Completes Tens of Millions USD Series B Funding Led by IDG Capital

According to Crowdfund Insider, stablecoin payment infrastructure provider PhotonPay announced the completion of tens of millions USD in Series B funding, led by IDG Capital, with participation from Hillhouse Investment, Enlight Capital, Lightspeed Faction, and Shoplazza. Blacksheep Technology served as exclusive financial advisor. The company did not disclose valuation. The new funds will be used to accelerate expansion of its stablecoin financial payment channels, recruit key talent, and expand global regulatory compliance, focusing on the US and some emerging markets. Founded in 2015, PhotonPay now has 11 centers worldwide with over 300 employees. The company states its “native stablecoin” settlement infrastructure handles over $30 billion annually. It has established partnerships with JPMorgan Chase, Circle, Standard Chartered, DBS Bank, and Mastercard, and plans to enhance account issuance, merchant acquiring, and foreign exchange services. Starting in 2026, PhotonPay also plans to launch enterprise value-added services, including idle fund yield products and flexible credit tools.

Powell Responds to Criminal Investigation: Subpoena Is a “Political Excuse,” Vows to Withstand Trump Pressure

According to Jinshi, Fed Chair Jerome Powell stated that the US Department of Justice threatened to bring criminal charges last Friday over his Senate testimony last June, which involved a multi-year building renovation project. A grand jury subpoena was served last Friday. The new threat is unrelated to his testimony or the renovation project, merely an excuse. The broader issue is whether the Fed will continue setting interest rates based on evidence and economic data or succumb to political pressure and intimidation. He emphasized that he performs his duties without fear of political pressure or favoritism and will continue to do so. He respects the rule of law but notes that this unprecedented action should be viewed in the context of ongoing pressure from the current government on the Fed.

Spot Gold First Breaks Above $4600

According to Jinshi, spot gold first broke above $4600, with a monthly increase of $280 in the first month of the year.

Michael Saylor: Best Performing Assets Over the Past Decade Are NVDA, MSTR, and BTC

Strategy founder and executive chairman Michael Saylor posted on X that the best performing assets over the past decade are: Digital Intelligence (NVIDIA, NVDA), Digital Credit (Strategy, MSTR), and Digital Capital (Bitcoin, BTC).

A Whale Transfers 26,000 ETH to Exchange for Complete Liquidation, Realizing $269 Million Profit

According to on-chain analyst Yu Jin monitoring, “a whale holding 101,000 ETH for 5 years at an average cost of only $660” transferred its last 26,000 ETH ($80.88 million) into Bitstamp exchange 4 hours ago, completing liquidation. The whale accumulated 101,000 ETH at an average price of $660 five years ago and recently sold at an average of $3,313, realizing a profit of $269 million (4x).

US Media: Powell Under Criminal Investigation, Targeting Fed Building Renovation

According to Jinshi citing The New York Times, informed officials revealed that the US District Attorney’s Office in Washington, D.C., has launched a criminal investigation into Fed Chair Powell, involving the Fed headquarters renovation project and whether Powell made false statements to Congress regarding the project’s scale. The investigation includes analysis of Powell’s public statements and review of related expenditure records, approved last November. The approval was granted by the office head, Trump ally Jenny Piro. It is unclear whether Piro has convened a grand jury or issued subpoenas. An official said prosecutors have contacted Powell’s staff multiple times requesting documents related to the renovation. Trump has long criticized Powell for refusing to cut interest rates significantly as he demanded, threatened to dismiss him, and threatened to sue over the $2.5 billion Fed building project, calling Powell “incompetent.”

Bitmine Pledges 109,504 ETH Again, Valued Over $340 Million

According to Onchain Lens, Bitmine pledged an additional 109,504 ETH ($340.49 million). To date, they have pledged a total of 1,190,016 ETH worth $3.7 billion.

Bloomberg Analyst: US SEC May Process Morgan Stanley’s BTC ETF Application as Early as March 23

Regarding “How long will the US SEC take to process Morgan Stanley’s BTC ETF application,” Bloomberg analyst James Seyffart said: “It will take at least 75 days from the application submission date. So, around March 23.”

Coinbase Increases Pressure on US Congress, Stablecoin Reward Terms Become Key Dispute in Crypto Legislation

According to Bloomberg, Coinbase is increasing pressure on US lawmakers to retain the ability to offer rewards to customers holding stablecoins. The company believes that if the proposed restrictions are included in the major crypto bill announced on Monday, this business will face risks. Insiders say that if the bill includes other provisions besides enhanced reward disclosure requirements, Coinbase may reconsider supporting the Market Structure Bill for digital assets, which will be reviewed by at least one Senate committee on Thursday. Industry sources reveal that the proposed plan is to restrict reward capabilities to regulated financial institutions, supported by some bankers who believe yield-bearing stablecoin accounts could drain traditional bank deposits. Coinbase has applied for a national trust license, which could allow it to offer rewards under regulatory rules. However, native crypto companies strongly advocate for maintaining platform-based reward models, even without a trust license, warning that broader restrictions could disrupt industry competition. The bill’s specific wording is unclear but will include some reward-related clauses, which have already weakened bipartisan support for the Market Structure Bill, potentially delaying its passage. Insiders suggest a potential compromise is to allow only licensed financial institutions to offer rewards on stablecoin balances. Recently, five crypto firms received conditional approval from the US OCC to become national trust banks. Given recent approvals, allowing trust license holders to offer yields on markets might appease some crypto firms. If restrictions are implemented, industry insiders believe it could trigger a “whack-a-mole” game, with crypto firms seeking alternative ways to reward users.

Michael Saylor Posts Bitcoin Tracker Again, May Disclose Additional Holdings Next Week

Strategy founder and executive chairman Michael Saylor posted again on X about Bitcoin Tracker, writing: “₿ig Orange.” Based on previous patterns, Strategy typically discloses increased Bitcoin holdings the day after related announcements.

Brother Maji’s Ethereum Long Repeatedly in Loss, Currently Holding 10,800 ETH

According to on-chain analyst Ai Yi monitoring, Brother Maji’s Ethereum long is again in a loss of $287,000, down over $2 million from the peak on 01.07 ETH. He currently holds a 25x leveraged long of 10,800 ETH, valued at $33.62 million, with an average entry price of $3,138.43.

Ethereum Foundation Executive: Zero-Knowledge Tech Becomes Core Focus of Ethereum Midterm Roadmap

According to CoinDesk, Ethereum Foundation co-CEO Hsiao-Wei Wang said in an interview that Ethereum is steadily moving toward a future where zero-knowledge cryptography is a core part of the network. She described zero-knowledge tech as part of Ethereum’s midterm roadmap, noting many breakthroughs in the past one to two years. While recent upgrades focus on improving Layer 2 execution and blob space, integrating zero-knowledge as a protocol-level feature is becoming increasingly feasible. Introducing zero-knowledge directly into Ethereum core can significantly reduce the workload needed to protect the network, making scalability easier without sacrificing decentralization or reliability. Wang emphasized that even as the network evolves, resilience, censorship resistance, and neutrality remain central to Ethereum.

Data: TRUMP, CONX, ARB and other tokens to unlock large amounts next week, with TRUMP unlocking worth about $271 million

Token unlock data shows that TRUMP, CONX, ARB, and other tokens will experience large unlocks next week. Specifically: Official Trump (TRUMP) will unlock about 50 million tokens at 8:00 AM Beijing time on January 18, representing 11.95% of circulating supply, worth about $271 million; Connex (CONX) will unlock about 1.32 million tokens at 8:00 AM Beijing time on January 15, representing 1.59% of circulating supply, worth about $20.4 million; Arbitrum (ARB) will unlock about 92.65 million tokens at 9:00 PM Beijing time on January 16, representing 1.86% of circulating supply, worth about $19.2 million; Cheelee (CHEEL) will unlock about 20.81 million tokens at 8:00 AM Beijing time on January 13, representing 2.78% of circulating supply, worth about $11.6 million; deBridge (DBR) will unlock about 618 million tokens at 8:00 AM Beijing time on January 17, representing 14.81% of circulating supply, worth about $11.6 million; Starknet (STRK) will unlock about 127 million tokens at 8:00 AM Beijing time on January 15, representing 4.83% of circulating supply, worth about $10.4 million; Sei (SEI) will unlock about 55.56 million tokens at 8:00 PM Beijing time on January 15, representing 1.05% of circulating supply, worth about $6.7 million; ZKsync (ZK) will unlock about 173 million tokens at 4:00 PM Beijing time on January 17, representing 3.16% of circulating supply, worth about $5.9 million.

Trump Claims He Never Felt Happy Until Making America Great Again

According to Jinshi citing Global Times, Trump met with oil industry executives in the East Room of the White House to discuss future US control over Venezuela’s energy sector. During the meeting, he wore a miniature “Trump” pin below the traditional US flag badge on his suit lapel. When asked about the pin, Trump replied: “Someone gave me this. Do you know what it is? It’s called ‘Happy Trump’.” The pin features an exaggerated cartoonish image of Trump with his mouth open, resembling a “wobbly doll” version of Trump, which many netizens immediately pointed out. Trump did not disclose who gave it to him. “I’ve never been happy, never satisfied,” Trump said, lowering his head to look at the pin, then raising his head to the reporters with a playful smile, “Before making America great again, I will never be satisfied. But I can tell you, we are very close now. That’s called ‘Happy Trump’.”

Wall Street Journal: Venezuela Oil Exports Heavily Using USDT, Tether Emphasizes Strict Compliance with Sanctions

According to The Wall Street Journal, Tether’s role as the main stablecoin globally is partly due to Maduro’s use of it, as Tether is an important tool for Venezuela’s state oil company (Petróleos de Venezuela, PdVSA) to evade sanctions, serving as a settlement currency for oil transactions and providing an economic lifeline amid the Bolivar’s collapse. A Tether spokesperson responded that the company complies with all applicable US and international sanctions and works closely with US authorities, including the Office of Foreign Assets Control (OFAC), and regularly assists law enforcement in freezing addresses related to illegal activities or sanctions violations upon legitimate requests.

TRADOOR Large Withdrawal of $2.1 Million in Tokens Diverts to 10 New Wallets

According to onchainschool, about three hours ago, TRADOOR tokens worth $2.1 million were withdrawn from the cryptocurrency exchange Bitget, then transferred to 10 new wallets, with further withdrawals possible later.

Brother Maji’s 10x Leverage ZEC Long Fully Closed in Less Than an Hour, Still Holding ETH and HYPE Longs

According to on-chain data, “Brother Maji” Huang Licheng’s 10x leveraged ZEC long was fully closed in less than an hour, with a profit of about $2,544. He still holds a 25x leveraged Ethereum long, with 10,900 ETH, currently at a floating loss of $353,523; and a 10x leveraged HYPE long, with 9,888.88 HYPE, floating loss of $180.

CZ Responds to “Super Cycle” Remarks: A Single Tweet Has Limited Influence, Cannot Pre-Determine the Future

In response to his previous tweet claiming “Super cycle is coming,” CZ again replied on X: “A single tweet can’t change anything. I can’t predict the future either. Keep accumulating.”