PA Daily News | US Senate Democrats restart negotiations on a crypto market structure bill; a user loses over $282 million in LTC and BTC due to a hardware wallet social engineering scam.

Today's top news highlights:

1. Tax authorities remind taxpayers to conduct self-assessments of their overseas income over the past three years.

2. US Senate Democrats restart negotiations on a cryptocurrency market structure bill.

3.X Creators launches a $1 million bonus program to reward the best original articles.

4. Anchorage Digital is seeking to raise $200 million to $400 million in preparation for a potential IPO next year.

5. ZachXBT: A user lost over $282 million in LTC and BTC on January 11 due to a hardware wallet social engineering scam.

6. Bitcoin spot ETFs saw a net outflow of $395 million yesterday, with only BlackRock IBIT experiencing a net inflow.

Regulatory news

Tax authorities are reminding taxpayers to conduct self-assessments of their overseas income over the past three years.

According to Xinhua News Agency, reporters learned from relevant departments of the State Taxation Administration that tax authorities have been continuously strengthening publicity and guidance on taxation of overseas income for resident individuals, and have been reminding taxpayers since last year to conduct self-examinations of income obtained from overseas from 2022 to 2024.

According to the provisions of the Tax Collection and Administration Law and other laws and regulations, if a taxpayer fails to file a tax return or makes a calculation error, resulting in underpayment or non-payment of taxes, the tax authorities may pursue the tax payment and late payment penalties within three years; if the act constitutes tax evasion, it shall be dealt with in accordance with the law.

It is an internationally accepted practice for resident individuals to pay personal income tax on income earned both domestically and internationally. This helps prevent cross-border tax evasion and safeguards the nation's tax revenue. Tax authorities remind citizens that paying taxes is an obligation of every citizen. Taxpayers who discover they have failed to declare their overseas income as required should promptly correct the declaration in accordance with the law.

US Senate Democrats restart negotiations on a cryptocurrency market structure bill.

Sources familiar with the matter revealed that Senate Democrats have returned to the negotiating table to discuss the best course of action for a cryptocurrency market structure bill. They held conference calls with representatives of the cryptocurrency industry, where lawmakers discussed next steps in depth. Following the abrupt postponement of the Senate's first vote on the bill this week, Democrats attempted to demonstrate their continued readiness to move forward. The draft bill released this week has drawn significant criticism, and US cryptocurrency exchange Coinbase announced it could not support the version.

The President of Kazakhstan signed a new law to bring digital financial assets under regulation and allow their circulation.

Kazakhstan's President Kassym-Jomart Tokayev signed the Law on Banking and Banking Activities and the Amendments to the Law on the Regulation and Development of Financial Markets, explicitly including digital financial assets (DFAs) as a new asset class under regulation and allowing their circulation within the country to promote the development of the fintech and crypto industry. The new law categorizes DFAs into three types: stablecoins, tokens based on physical assets, and electronic financial instruments. Furthermore, the law formally regulates unsecured digital assets (such as Bitcoin), allows the establishment of crypto exchanges licensed by the central bank, and the central bank will develop a list of cryptocurrencies permitted for circulation and impose certain restrictions on cryptocurrency trading activities to protect investor rights. Market participants will be monitored to combat money laundering.

Project Updates

Binance will launch SPORTFUNUSDT and AIAUSDT perpetual contracts.

Binance will launch SPORTFUNUSDT and AIAUSDT perpetual contracts on January 16, 2026, at 21:45 and 23:30 (Beijing time), respectively. Both support up to 20x leverage and settlement of funding fees every four hours. SPORTFUN focuses on sports prediction economics, while AIA is an on-chain AI agent collaboration infrastructure project. Both support multi-asset trading and copy trading.

Binance now allows users to withdraw USD directly via bank transfer (SWIFT).

According to Binance, the platform now supports users to directly withdraw US dollars (USD) via bank transfer (SWIFT). This service is provided by BPay, and the transfer takes 0-5 business days to complete.

BPay Global is one of Binance's entities in Bahrain, a payment services subsidiary of Binance. It was newly established in April 2025 and obtained a CBB Payment Service Provider (PSP) license. Previously, Bahrain Kuwait Bank (BBK), a leading retail and corporate bank in Bahrain, signed a memorandum of understanding with Binance Bahrain, becoming the first bank in the Gulf Cooperation Council to join the Binance Link program.

ETHGas has released details of the GWEI token distribution, with the ecosystem receiving up to 31%.

According to the ETHGas Foundation, the total supply of the governance token $GWEI is 10 billion, of which 31% is allocated for ecosystem incentives and will be released linearly over 10 years. Investors and the team will be allocated 27% and 22% respectively, both with a 1-year lock-up (10% unlocked) followed by a 2-year linear release mechanism; the community will be allocated 10%, released linearly over 4 years; the foundation's 8% will be unlocked on the first day of listing, and advisors will receive 2%. GWEI obtained through airdrops will be automatically staked for 30 days upon listing to initiate veGWEI governance.

Canaan Technology received a delisting warning from Nasdaq due to its stock price falling below $1, and must restore compliance within 180 days.

Cryptocurrency mining rig manufacturer Canaan Inc. (NASDAQ: CAN) received a notice from Nasdaq that its ADSs had closed below $1 for 30 consecutive trading days, violating the minimum bid price requirement. The company has been granted a 180-day grace period until July 13, 2026, during which its share price must return to above $1 for 10 consecutive trading days to restore compliance. Failure to meet this requirement or submit a remedial plan could result in delisting.

X Creators launches a $1 million bonus program to reward the best original articles.

X Creators announced a new initiative to award $1 million in prize money for the best articles in the next selection cycle, doubling support for creators on the platform who excel in their writing areas. The goal for 2026 is to recognize high-value, high-impact content that shapes conversations, leads news, and drives cultural development. Articles must be original, at least 1,000 words long, and will be judged primarily based on their exposure on the homepage timeline. Participation is limited to US users only, and content that violates platform policies, is hateful, fraudulent, or manipulative is disqualified.

Coinbase has included Seeker (SKR) and Fight (FIGHT) in its listing roadmap.

Coinbase has announced that Seeker (SKR) and Fight (FIGHT) are on its listing roadmap. Trading on these tokens will require market-making support and technical infrastructure conditions to be met. Specific timing will be announced later.

Binance will delist four USDT-based perpetual contracts, including BID.

According to the official announcement, Binance Futures will automatically liquidate the BIDUSDT, DMCUSDT, ZRCUSDT and TANSSIUSDT U-margined perpetual contracts at 17:00 (UTC+8) on January 21 , 2026 , and will delist the above perpetual contract trading pairs after the liquidation is completed.

Stellar Community Fund announces upgrades and optimized fund disbursement methods

Stellar has officially announced an upgrade to its Community Fund, launching version 7.0. This upgrade aims to accelerate ecosystem growth and help developers scale faster. The fund, which has been operating for six and a half years, was launched after a successful SCF Pilot vote by the Soroban Governor, adapting to network maturity and developer needs. SCF v7.0 will optimize fund disbursement to encourage execution, speed, and delivery: 10% will be disbursed initially upon grant; 20% will be disbursed during mid-term development milestones; 30% will be disbursed during the advanced product readiness phase (testnet); and 40% will be disbursed during mainnet launch validation and user experience readiness.

Analysis & Opinions

Crypto journalist: If Coinbase doesn't offer a yield agreement that satisfies banks, the White House is considering withdrawing its support for the Market Structure Act.

According to journalist Eleanor Terrett, a source close to the Trump administration revealed that the White House is considering withdrawing its support for the cryptocurrency market structure bill entirely if Coinbase does not present a yield agreement that satisfies banks and brings all parties to an agreement. The White House is furious about Coinbase's "unilateral" action on Wednesday, which apparently went unnoticed. The White House called the move "disloyal" to the White House and the entire industry. The source also stated that the White House believes one company cannot represent the entire industry. "Ultimately, this is President Trump's bill, not Brian Armstrong's."

Vitalik: Ethereum will regain its lost ground in autonomy and trustlessness by 2026, and will no longer compromise on adoption.

Ethereum co-founder Vitalik Buterin stated that in 2026, Ethereum will regain its lost ground in autonomy and trustlessness, no longer compromising its core values ​​for mainstream adoption, and rebuilding a stronger decentralized ecosystem. Vitalik noted that over the past decade, Ethereum nodes have become more difficult to run, DApp data breaches have become severe, wallets have shifted from local RPC to third-party leaked data, and block building has become more centralized, leading to transaction inclusivity being affected by a few builders.

Tom Lee: Bitmine is about to launch an app

At a recent shareholder meeting, Bitmine Chairman Tom Lee announced the upcoming launch of an app, though further details were not disclosed. However, shareholder reactions suggest dissatisfaction with the move and a perceived unnecessary investment in an app. Lee also revealed that Bitmine no longer aims to be merely a single Ethereum yield tool, but rather to position itself as a Berkshire Hathaway-style holding company in the digital economy, where Ethereum serves as the foundational layer for cash flow and capital allocation, driving the next phase of growth.

Investment and Financing

Singapore-based crypto startup Veera raises $10 million to expand its on-chain financial services.

According to Tech in Asia, Singapore-based crypto finance platform Veera announced it has raised $10 million in Pre-Seed and Seed rounds, with investors including Sigma Capital, CMCC Titan Fund, 6th Man Ventures, and Ayon Capital. Veera launched its mobile platform in January 2025 and has already accumulated over 2 million downloads with 220,000 monthly active users. The platform supports self-custodied wallets and has launched a "Veera Card" candidate list, planning to support global on-chain asset payments.

AlphaTON Capital, a TON treasury company, has raised $15 million through a registered offering of common stock.

Nasdaq-listed AlphaTON Capital, a TON treasury company, announced a $15 million offering through a registered public offering of 15,000,000 common shares at $1 each. HC Wainwright & Co. acted as the sole placement agent for the offering. The company stated that it plans to use the net proceeds to expand Cocoon AI’s GPU deployment, replenish working capital, and for general corporate purposes.

Anchorage Digital is seeking to raise $200 million to $400 million in preparation for a potential IPO next year.

According to Bloomberg, sources familiar with the matter said Anchorage Digital (whose affiliate is the first federally chartered digital asset bank in the United States) is seeking to raise new funds to explore potential IPO plans.

The New York-based company focuses on securing digital assets by providing custody and other services. Anchorage Digital, speaking on condition of anonymity, hopes to raise $200 million to $400 million ahead of a potential initial public offering (IPO) next year. The person also indicated that Anchorage Digital is still finalizing its valuation.

Important data

ZachXBT: A user lost over $282 million in LTC and BTC on January 11 due to a hardware wallet social engineering scam.

According to ZachXBT monitoring, around 7:00 AM (UTC+8) on January 11th, a victim lost over $282 million worth of LTC and BTC in a hardware wallet social engineering scam. The attackers then converted the stolen LTC and BTC into Monero through multiple instant exchange platforms, causing a brief surge in the XMR price. Some BTC was also transferred to the Ethereum, Ripple, and Litecoin networks via Thorchain. The total amount of stolen addresses disclosed is approximately 2.05 million LTC and 1459 BTC.

Bitcoin spot ETFs saw a net outflow of $395 million yesterday, with only BlackRock IBIT experiencing a net inflow.

According to SoSoValue data, Bitcoin spot ETFs saw a total net outflow of $395 million yesterday (January 16, Eastern Time).

The Bitcoin spot ETF with the largest single-day net inflow yesterday was BlackRock ETF IBIT, with a net inflow of $15.0937 million. IBIT's total historical net inflow has now reached $63.441 billion.

The Bitcoin spot ETF with the largest single-day net outflow yesterday was the Fidelity ETF FBTC, with a net outflow of $205 million. The total historical net inflow for FBTC is currently $11.916 billion.

As of press time, the total net asset value of Bitcoin spot ETFs was $124.563 billion, with an ETF net asset ratio (market capitalization as a percentage of Bitcoin's total market capitalization) of 6.53%, and a historical cumulative net inflow of $57.822 billion.

Steak 'n Shake, a fast-food chain, adds $10 million to its Bitcoin reserves.

Steak 'n Shake, the American fast-food chain, announced it has added $10 million to its Bitcoin reserves. The company stated that since Steak 'n Shake began accepting Bitcoin payments eight months ago, its sales have seen significant growth.

The "insider who shorted after the 1011 flash crash" has increased his ETH long positions after a month, bringing his total holdings to $736 million.

According to on-chain analyst Ai Yi, the "insider who shorted after the 1011 flash crash" has increased his ETH long positions again after a month. Nine hours ago, he added 20,000 ETH, bringing his single-coin holdings to $736 million (223,340 ETH), with a floating profit of $29.46 million and an overall floating profit of $40.93 million.

Binance will launch SPORTFUNUSDT and AIAUSDT perpetual contracts on January 16, 2026, at 21:45 and 23:30 (Beijing time), respectively. Both support up to 20x leverage and settlement of funding fees every four hours. SPORTFUN focuses on sports prediction economics, while AIA is an on-chain AI agent collaboration infrastructure project. Both support multi-asset trading and copy trading.

Binance now allows users to withdraw USD directly via bank transfer (SWIFT).

According to Binance, the platform now supports users to directly withdraw US dollars (USD) via bank transfer (SWIFT). This service is provided by BPay, and the transfer takes 0-5 business days to complete.

BPay Global is one of Binance's entities in Bahrain, a payment services subsidiary of Binance. It was newly established in April 2025 and obtained a CBB Payment Service Provider (PSP) license. Previously, Bahrain Kuwait Bank (BBK), a leading retail and corporate bank in Bahrain, signed a memorandum of understanding with Binance Bahrain, becoming the first bank in the Gulf Cooperation Council to join the Binance Link program.

According to Binance, the platform now supports users to directly withdraw US dollars (USD) via bank transfer (SWIFT). This service is provided by BPay, and the transfer takes 0-5 business days to complete.

BPay Global is one of Binance's entities in Bahrain, a payment services subsidiary of Binance. It was newly established in April 2025 and obtained a CBB Payment Service Provider (PSP) license. Previously, Bahrain Kuwait Bank (BBK), a leading retail and corporate bank in Bahrain, signed a memorandum of understanding with Binance Bahrain, becoming the first bank in the Gulf Cooperation Council to join the Binance Link program.