ASIC wins $9.3M penalty against BPS Financial over misleading Qoin Wallet

Tether, the company behind the world’s largest stablecoin USDT, has disclosed a substantial expansion of its gold holdings, underscoring a growing shift toward hard‑asset backing amid uncertainty across crypto and traditional financial markets. 

Tether Expands Gold‑Backed Stablecoin Reserves

Gold crossed the $5,000 per ounce threshold for the first time on Monday, a milestone that market observers had not previously seen. Prices briefly climbed to around $5,110 per ounce as safe‑haven demand accelerated. 

Tether revealed that it significantly increased its gold exposure during the fourth quarter of 2025. The company disclosed that gold‑backed stablecoins (XAU₮) experienced rapid growth throughout the year, with total market capitalization rising from roughly $1.3 billion to more than $4 billion. 

According to Tether’s attestation report, this expansion was fueled by record‑high gold prices, rising geopolitical fragmentation, and growing demand from both institutional investors and crypto‑native users for fully on‑chain safe‑haven assets.

Within the gold‑backed stablecoin sector, Tether Gold emerged as the dominant issuer, accounting for approximately 60% of the total supply in circulation. 

By the end of the fourth quarter, total physical gold reserves stood at 520,089.350 fine troy ounces. Each token is backed on a one‑to‑one basis by a fine troy ounce of physical gold. At current prices, the total market value of these holdings reached approximately $2.25 billion. 

Crypto Giant Ranks Among Top 30 Global Gold Holders

Tether confirmed that all gold reserves are securely stored in Switzerland and comply fully with the London Good Delivery standards established by the London Bullion Market Association, a key benchmark for institutional gold custody.

The scale of Tether’s accumulation has also positioned the company among major global gold holders. Based on data from the International Monetary Fund and a Jefferies report published in late 2025, Tether now ranks within the top 30 gold holders worldwide. 

Its holdings surpass those of several countries, including Greece, Qatar, and Australia. During the fourth quarter of 2025 alone, Tether Gold Investments added roughly 27 metric tons of gold to its exposure. 

Paolo Ardoino, Tether’s CEO, said the company’s growing role in gold markets carries significant responsibility. He emphasized that Tether Gold is designed to bring clarity and verifiability at a time when confidence in traditional monetary systems is being tested. 

Ardoino noted that each XAU₮ token represents vaulted physical gold that can be independently verified on‑chain, adding that the product’s rapid growth reflects rising expectations for tokenized assets to meet the same standards as sovereign and institutional reserves.

Featured image from OpenArt, chart from TradingView.com 

This week is packed with major U.S. economic and political events, and crypto investors are watching closely. From the Federal Reserve’s rate decision to inflation data, and together they could influence how Bitcoin and altcoins may react next.

Lets see what are the key U.S event to watch this week,.

28 Jan : FOMC interest-rate decision, Powell’s Speech

On January 28, the Federal Reserve will announce its interest rate decision, followed by Jerome Powell’s press conference. According to the CME FedWatch Tool, there is a 97% chance the Fed will keep rates unchanged at current levels.

While no rate change is expected, crypto traders will closely listen to Powell’s tone. Any hint of future rate cuts could boost Bitcoin and altcoins, as lower rates typically increase appetite for risk assets.

29 Jan: Jobs Data and Crypto Market Structure Bill in Focus

January 29 brings Initial Jobless Claims data. Forecasts suggest claims could rise to around 202,000 from last week’s 200,000. A rising number may signal a cooling labor market, which often strengthens the case for future rate cuts, something crypto markets usually welcome.

The same day, the Senate Agriculture Committee is set to review a bipartisan crypto market structure bill. 

If passed, the bill could improve regulatory clarity and significantly reduce market manipulation. For long-term crypto holders, this could be a major confidence boost.

Jan 30: US PPI Inflation Data

On January 30, U.S. Producer Price Index (PPI) data will be released, along with the government shutdown deadline. With PPI expected to remain steady at 3%, markets will be looking for signs that inflation is truly under control.

If inflation stays calm and political risks ease, crypto markets could respond positively. But any surprises could quickly shift sentiment, making this a crucial week for digital assets.

31 Jan: Government Shutdown Fears

On January 31, concerns around a possible U.S. government shutdown intensified. Prediction markets briefly showed shutdown odds rising toward 80% after Senate Democrats signaled resistance to a 1.2 trillion funding bill tied to Homeland Security spending. 

While markets still expect the U.S. government to stay open, this uncertainty creates short-term risk across financial markets.

More than half of the top US banks have either started offering or announced plans to offer Bitcoin-related services such as trading or custody, says Bitcoin financial services firm River.

In an X post on Monday, River shared a list of the top 25 institutions operating in the US, saying, “60% of the top US banks are into Bitcoin.”

On Saturday, crypto exchange Coinbase CEO Brian Armstrong said that a key takeaway from his time at the Davos World Economic Forum in Switzerland, which was held from Jan. 19 until Jan. 23, was that banking CEOs are becoming friendlier toward crypto.

Out of the unnamed banking CEOs he met, Armstrong said, “most of them are actually very pro crypto and are leaning into it as an opportunity, some aren't quite there yet. One CEO of a top 10 global bank told me crypto is their number one priority, and they view it as existential.”

Bitcoin’s network hashrate fell to its lowest level in seven months over the weekend as a powerful winter storm swept across the United States, forcing miners to scale back operations amid surging energy demand and widespread power disruptions.

Key Takeaways:

• A US winter storm pushed Bitcoin’s hashrate to a seven-month low as miners curtailed operations to ease grid strain.
• Network power fell over 40% before partially recovering.
• Miners scaled back operations to help stabilize electricity grids.

According the massive storm system impacted more than three dozen US states, bringing heavy snow, ice and freezing temperatures that left around one million customers without power.

The extreme conditions placed additional strain on regional electricity grids, prompting some Bitcoin miners to curtail activity to help stabilize supply.Bitcoin Hashrate Slides More Than 40% Over Weekend Before Rebounding

Data from shows that Bitcoin’s hashrate began sliding on Friday before plunging sharply over the weekend.

By Sunday, the network’s computing power had dropped to roughly 663 exahashes per second (EH/s), representing a decline of more than 40% in just two days.

The hashrate has since rebounded, climbing back to around 854 EH/s as of Monday.

Oregon-based miner Abundant Mines said the scale of the disruption was significant.

“Approximately 40% of global Bitcoin mining capacity has gone offline in the past 24 hours due to extreme winter weather,” the company said, adding that many operators voluntarily reduced output as energy demand spiked.

The firm described this responsiveness as a structural advantage of Bitcoin mining, noting that operations can shut down quickly during grid stress and restart once conditions normalize. https://twitter.com/AbundantMines/status/2015565916344639732?s=20

The US accounts for the largest share of global Bitcoin mining activity.

Estimates from the Hashrate Index suggest the country contributes nearly 38% of the network’s total hashrate, while a 2024 report from the Energy Information Administration identified at least 137 crypto-mining facilities nationwide.

Industry advocates argue that miners play an increasingly important role in grid stability by acting as flexible energy consumers.Bitcoin Miners Help Stabilize Texas Power Grid During Winter Storm

Mining operations can absorb excess electricity generated by wind or solar installations and rapidly power down during periods of peak demand.

Bitcoin ESG researcher Daniel Batten said on X that demand response programs involving miners helped stabilize the Texas grid during the storm.

Bitcoin mining (demand response) and batteries worked together to stabilize Texas' grid in the face of recent extreme weather — Daniel Batten (@DSBatten)

The weather event also weighed on Bitcoin production. CryptoQuant analyst Julio Moreno said daily output dropped sharply at several major US mining firms.

According to a recent analysis by independent researcher Daniel Batten, Bitcoin mining can strengthen electrical grids and lower consumer electricity costs rather than strain power systems.

His research challenges common claims that mining destabilizes grids or drives up energy prices, drawing on peer-reviewed studies and operational data to argue that the industry’s flexible power usage can provide measurable system benefits.

The cryptocurrency market rebounded on Monday from a muted session the day prior, helped by Bitcoin's climb, even as equities linked to the sector were mixed. Strategy (MSTR), GameStop (GME), and Fold Holdings (FLD) were three of the most popular "crypto proxy" stocks today.

GameStop

On Monday, GameStop (GME) closed up 4.44% and extended gains after-hours as “The Big Short” investor Michael Burry revealed he was buying into the videogame retailer and backed CEO Ryan Cohen, who, along with another board member, bought more than 500,000 shares, according to an SEC filing. 

Separately, Cohen has been in focus after GameStop outlined a performance-based stock option award for him. On Stocktwits, retail sentiment around GME remained in ‘extremely bullish’ territory, accompanied by ‘extremely high’ chatter levels over the past day. 

Fold Holdings

Fold Holdings (FLD) closed at $1.99, up 4.74%, and then traded for about $2.09 in after-hours, a gain of about 5%. As Bitcoin remained strong and the market mood improved, traders sought bigger gains in smaller crypto-related stocks, which pushed prices higher. On Stocktwits, retail sentiment around FLD dropped from ‘neutral’ to ‘bearish’ territory, as chatter levels around it remained at ‘high’ levels over the past day. 

Strategy

Strategy (MSTR) ended the day down 1.55% at $160.58, but it went up slightly after hours to about $161.04. However, on Monday's trading session, MSTR fell after the announcement of more equity sales related to its Bitcoin accumulation strategy. This likely added to the market's ongoing push-pull, as investors want Bitcoin exposure but also consider the "flywheel" effect of capital markets and the risk of dilution.

Moreover, the company sold about 1.57 million Class A shares between January 20 and January 25, generating a net profit of about $257 million. It also reported about $7 million in income from its STRC preferred stock. The company's strategy involved purchasing an additional 2,932 Bitcoin at an average price of $90,061. This transaction increased the firm's total Bitcoin holdings to 712,647 BTC. The company still had about $8.17 billion available under its at-the-market common stock program as of January 25. On Stocktwits, retail sentiment around MSTR remained in the ‘bearish’ territory, accompanied by a ‘low’ chatter level over the past day.

ALTS, CLSK, KULR BKKT In Negative Territory

The common thread running through today's best-performing crypto-linked stocks was a slight gain in the underlying asset class, as the total crypto market capitalization increased by around 1.5% in the last 24 hours.

Despite better conditions in the overall digital-asset market, numerous crypto-linked equities remained under pressure. CleanSpark (CLSK), ALT5 Sigma (ALTS), Bakkt Holdings (BKKT), and KULR Technology Group (KULR) all traded in negative territory.

GameFi tokens are showing early signs of revival, with Axie Infinity emerging as one of the stronger performers. After spending months under sustained bearish pressure, the AXS price has decisively reversed course, supported by both technical momentum and recent changes to the project’s token economics.

The rally gained traction after Axie Infinity introduced bAXS, effectively locking a portion of the circulating supply while simultaneously halting SLP reward emissions—two moves that significantly reduced short-term selling pressure and token inflation. As a result, AXS has surged more than 270% since the start of the year, marking one of its strongest recoveries in recent quarters.

The latest rebound suggests that bullish control remains intact, even as the price approaches a historically important resistance zone. With momentum indicators still elevated and buyers defending higher levels, attention now turns to whether AXS can extend its move further. Can the token rally another 20% and reclaim the $3 mark before the monthly close, or is consolidation more likely near current levels?

Axie Infinity Price Analysis for this Week

The AXS price recorded a sharp upswing in the first week of the year, driven by a sudden and sustained surge in trading volume. Since that breakout, bullish momentum has remained firmly in control, allowing the rally to extend and hold higher levels. However, despite the strength of the move, AXS has yet to secure a decisive breakout above the $2.80–$2.92 resistance zone. This region, previously a supply area, has now emerged as a critical threshold that must be cleared to validate further upside continuation.