PA Daily News | Coinbase CEO denies White House will withdraw support for the Clarity Act; Bitcoin spot ETFs see net inflows of $1.42 billion this week.

Today's top news highlights:

1. Trump imposes 10% tariffs on eight European countries over Greenland.

2. Defiance will close its Nasdaq-listed Ethereum ETF, which has been listed for less than six months.

3. Coinbase CEO denies rumors that the White House will withdraw its support for the cryptocurrency market structure bill.

4. CZ denies rumors of dating actress Sydney Sweeney.

5. Trader Eugene: Has largely exited his long positions in altcoins, but still holds long positions in Bitcoin.

6. Bitcoin spot ETFs saw net inflows of $1.42 billion this week, with BlackRock's IBIT leading the way with $1.035 billion in net inflows.

Regulatory news

Trump imposes 10% tariffs on eight European countries over Greenland.

According to Jinshi News, on January 17th local time, US President Trump announced via social media that due to the Greenland issue, starting February 1st, all goods exported to the US from Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland will be subject to a 10% tariff. By June 1st, the tariff will increase to 25%. This tariff will remain in effect until an agreement is reached on the "comprehensive purchase of Greenland."

The European Union will convene an emergency meeting of ambassadors from member states in Brussels on the 18th to discuss the Greenland issue and US President Trump's new tariff threats.

Nigerian SEC raises capital threshold for digital asset platforms to 2 billion Naira.

According to TechCabal, the Nigerian Securities and Exchange Commission (SEC) has issued new regulations. Under the new framework, digital asset exchanges and digital asset custody institutions operating trading venues and safeguarding users' digital assets must maintain a minimum capital requirement of 200 million Naira (approximately US$1.4 million), up from the previous 500 million Naira. In other categories, the minimum capital requirement for Digital Asset Issuance Platforms (DAOPs) and RWA tokenization platforms is 1 billion Naira, while the requirements for digital asset intermediaries and related service providers range from 300 million to 500 million Naira. The new regulations require these institutions to meet the requirements by June 30, 2027, or they may face suspension or revocation of their licenses.

Vietnamese police have arrested five suspects for cryptocurrency fraud, allegedly embezzling over $530,000.

According to Crypto Politan, Vietnamese police have arrested five suspects in Da Nang for allegedly operating a cryptocurrency scam. In a statement, Vietnamese police said the suspects were based in Cambodia and were running the scam, which allegedly imitated the Nasdaq exchange. The suspects allegedly misappropriated 14 billion Vietnamese dong (approximately US$532,800).

Police also mentioned that the suspects possessed a powerful telecommunications network and electronic devices, enabling them to conduct illegal activities from their residences in the Da Nang area. The group used Zalo and Telegram to create dozens of fake accounts, posting fake trading activities, posing as investment experts to lure victims into investing, and falsely reporting profits. After misappropriating the funds, the money was transferred through multiple bank accounts and ultimately converted into cryptocurrency to conceal its origin.

Project Updates

FTX creditor representative: KYC verification must be completed, W-8 BEN form submitted, and compensation distribution agent confirmed before the next distribution round.

Sunil, a representative of FTX creditors, posted an update on the FTX payout distribution schedule on the X platform. He stated that users need to complete the relevant procedures before the deadline to receive compensation. Specific requirements include: completing KYC verification, submitting a W-8 BEN form, and selecting and confirming a payout distribution agent. According to previously released information, the next batch of FTX payouts will be distributed on March 31, 2026, and registration must be completed by February 14.

DeFiance will close its Nasdaq-listed Ethereum ETF, which has been listed for less than six months.

Defiance has announced its decision to close and liquidate the Nasdaq-listed Ethereum exchange-traded fund, the Defiance Leveraged Long and Yield Ethereum ETF (ETHI), which had been listed for only about four months. In addition, Defiance will also close and liquidate seven other leveraged long and yield ETFs: PLT, HOOI, SMCC, AMDU, HIMY, TRIL, and LLYZ.

Analysis & Opinions

Galaxy Research Director: Stablecoin yields are a key sticking point in negotiations for the US crypto infrastructure bill; the next hearing may begin in the last week of January.

Galaxy Research Director Alex Thorn wrote on the X platform that U.S. Senate Banking Committee Chairman Tim Scott has announced a postponement of the hearing on the Crypto Market Structure Act. It is understood that stablecoin yields are a key sticking point in the negotiations. Bank lobbying groups are actively pushing for restrictions on stablecoin rewards, fearing that interest-bearing stablecoins could siphon off bank deposits and undermine the stability of the banking system. The compromises proposed to gain support from lawmakers were ultimately deemed unacceptable by the stablecoin industry, with some believing the issue is a matter of survival. Other unresolved issues include restrictions on DeFi and illicit activities, as well as restrictions on tokenized securities innovation.

In addition, Alex Thorn revealed that although Tim Scott has not yet announced a new hearing date, the earliest the Banking Committee may reconvene the amendment hearings is the week of January 26-30, as the Senate is in recess next week. The Senate Agriculture Committee, which is responsible for CFTC-related matters, had previously postponed its amendment hearings to January 27.

The father of smart contracts: supports X revoking access permissions to InfoFi application APIs; Kaito and other incentive-based content platforms generate a large amount of low-quality content.

Nic Carter, the "father of smart contracts" and co-founder of Castle Island Ventures, posted on the X platform that the combination of incentivized posting and AI on platforms like Kaito has generated a large amount of low-quality content. He noted that the early fun of the crypto tweeting community lay in grassroots competition, but the current industry growth focus has shifted to stablecoins and financial infrastructure, favoring institutional and VC narratives. Ordinary retail investors find it difficult to experience "fair participation and the chance to win big," leading to decreased participation. Furthermore, the X platform's "de-niche" design, which emphasizes "recommendations for you," makes it difficult for creators to reach their niche communities, reducing the chances of professional crypto content being recommended. Carter added that the X platform has responded quickly by revoking API access to the "InfoFi" application to reduce spam on the platform, a move he strongly supports.

VanEck responds to inaccurate report by The New York Times: They are not bearish on Strategy and have increased their holdings in the company in recent weeks.

Matthew Sigel, Head of Digital Asset Research at digital asset management firm VanEck, clarified a misinterpretation of a New York Times report in an article published on the X platform. He stated that the New York Times published an article attacking Bitcoin treasury company Strategy, claiming that VanEck CEO Jan van Eck said he had "always kept his distance from Strategy." However, Jan van Eck was actually expressing that VanEck would not be implementing a DAT strategy for the time being, not his opinion on Strategy or its stock price, and certainly not a bearish view on Strategy. Currently, VanEck holds 284,000 shares of Strategy on behalf of clients, consistently ranking among the top 75 in Strategy's stock holdings, and has increased its holdings in recent weeks.

Trader Eugene: Has largely exited his long positions in altcoins, but still holds long positions in Bitcoin.

Trader Eugene, nicknamed "Pigeon," posted on his personal channel that he has basically exited his long positions in altcoins because the market performance of the relevant investment targets has not met expectations, so he has chosen to take profits in stages. However, he is still holding long positions in core Bitcoin and has significantly increased his cash position in preparation for the next round of trading.

Nansen's CEO expressed dissatisfaction with Coinbase Advanced's fee structure, calling the "120 basis point takeover fee" outrageous.

Nansen CEO Alex Svanevik posted a message on the X platform expressing his dissatisfaction with Coinbase Advanced's high fees, writing, "120 basis points??? Coinbase's fees are outrageous." According to a notification shown by Alex Svanevik, his Coinbase Advanced account's fee tier has been changed to Intro 1, with a new Taker fee of 1.2% and a Maker fee of 0.6%. This fee tier is reportedly calculated based on trading activity or asset holdings over the past 30 days.

Coinbase CEO denies rumors that the White House will withdraw its support for a cryptocurrency market structure bill.

Coinbase CEO Brian Armstrong denied reports that the Trump administration was considering withdrawing its support for the cryptocurrency market structure bill. Armstrong stated that the claim was inaccurate. He added that the White House has been very proactive on the matter. "They have indeed asked us to try to reach agreements with banks, and we are currently working on that. In fact, we have been coming up with some good ideas that we hope will specifically help community banks in this bill, as it is focused on community banks. More information will be released soon."

According to a previous report by journalist Eleanor Terrett, the White House is considering withdrawing its support for the Market Structure Act if Coinbase does not offer a yield agreement that satisfies banks.

Crypto journalist responds to Coinbase CEO's denial of his report, insisting it is rigorous and accurate.

Crypto journalist Eleanor Terrett responded to Coinbase CEO Brian Armstrong's denial, insisting her reporting was rigorous and accurate. "You just quoted a key point from my report, namely that the White House is demanding Coinbase reach an agreement on yield. My report is that White House support now appears to depend on the final outcome of that agreement."

Previously , Coinbase CEO Brian Armstrong denied reports that the Trump administration was considering withdrawing its support for a cryptocurrency market structure bill.

CZ denies rumors of dating actress Sydney Sweeney.

In response to rumors circulating in the community that Binance founder CZ was dating actress Sydney Sweeney, CZ denied the rumors on the X platform, stating that he does not frequently participate in social activities and has "never met Sydney Sweeney." CZ also mentioned that it is becoming increasingly difficult to distinguish which "news" is not credible, but if one can do so, "you will be richer."

Important data

An ancient whale that accumulated 5,000 BTC 12 years ago sold 500 BTC again, making a total profit of $260 million.

According to on-chain analyst Ember, the "ancient whale who accumulated 5,000 BTC 12 years ago" sold another 500 BTC ($47.77 million) 9 hours ago. He accumulated 5,000 BTC at a price of $332 per BTC 12 years ago (November 2013) and began selling in November 2024. He has already transferred 2,500 BTC ($261 million) to Binance at an average price of approximately $104,632, realizing a profit of $260 million. He currently holds 2,500 BTC ($237 million).

Ethereum validator exits dropped to zero, while entry surged to 2.6 million ETH.

Ethereum validator queue data shows that the exit queue has dropped from a peak of 2.67 million ETH in September 2025 to 0 ETH, while the entry queue has increased more than fivefold in the past month, reaching 2.6 million ETH, the highest level since July 2023. The waiting time for entering the queue has now increased to 45 days, while the processing time for exiting ETH is only a few minutes.

Bitcoin spot ETFs saw net inflows of $1.42 billion this week, with BlackRock's IBIT leading the way with $1.035 billion in net inflows.

According to SoSoValue data, Bitcoin spot ETFs saw a net inflow of $1.42 billion this week (January 12 to January 16, Eastern Time).

The Bitcoin spot ETF with the largest net inflow this week was BlackRock ETF IBIT, with a weekly net inflow of $1.035 billion. IBIT's historical total net inflow has reached $63.44 billion. This was followed by Fidelity ETF FBTC, with a weekly net inflow of $194 million. FBTC's historical total net inflow has reached $11.92 billion.

The Bitcoin spot ETF with the largest net outflow this week was Grayscale Bitcoin Trust (GBTC), with a weekly net outflow of $1.6757 million. GBTC's total historical net outflow has reached $25.41 billion.

As of press time, the total net asset value of Bitcoin spot ETFs was $124.56 billion, with an ETF net asset ratio (market capitalization as a percentage of Bitcoin's total market capitalization) of 6.53%, and a cumulative net inflow of $57.82 billion.

Ethereum spot ETFs saw net inflows of $479 million this week, with BlackRock's ETHA leading the way with $219 million in net inflows.

According to SoSoValue data, Ethereum spot ETFs saw a net inflow of $479 million this week (January 12 to January 16, Eastern Time).

The Ethereum spot ETF with the largest net inflow this week was BlackRock ETF ETHA, with a weekly net inflow of $219 million. ETHA's historical total net inflow has reached $12.94 billion. This was followed by Grayscale Ethereum Mini Trust (ETH), with a weekly net inflow of $123 million. ETH's historical total net inflow has reached $1.63 billion.

As of press time, the Ethereum spot ETF has a total net asset value of $20.42 billion, an ETF net asset ratio (market capitalization as a percentage of Ethereum's total market capitalization) of 5.14%, and a historical cumulative net inflow of $12.91 billion.

Data: Tron network issued 22.7 billion new USDT in one year, with over 70.6 million holders.

According to Lookonchain monitoring, Tron issued 22.7 billion new USDT in the past year, bringing the total USDT supply to 82.4 billion. Meanwhile, the number of USDT holders on Tron increased by 11 million in the past year, exceeding 70.6 million in total.

Sunil, a representative of FTX creditors, posted an update on the FTX payout distribution schedule on the X platform. He stated that users need to complete the relevant procedures before the deadline to receive compensation. Specific requirements include: completing KYC verification, submitting a W-8 BEN form, and selecting and confirming a payout distribution agent. According to previously released information, the next batch of FTX payouts will be distributed on March 31, 2026, and registration must be completed by February 14.

DeFiance will close its Nasdaq-listed Ethereum ETF, which has been listed for less than six months.

Defiance has announced its decision to close and liquidate the Nasdaq-listed Ethereum exchange-traded fund, the Defiance Leveraged Long and Yield Ethereum ETF (ETHI), which had been listed for only about four months. In addition, Defiance will also close and liquidate seven other leveraged long and yield ETFs: PLT, HOOI, SMCC, AMDU, HIMY, TRIL, and LLYZ.

Defiance has announced its decision to close and liquidate the Nasdaq-listed Ethereum exchange-traded fund, the Defiance Leveraged Long and Yield Ethereum ETF (ETHI), which had been listed for only about four months. In addition, Defiance will also close and liquidate seven other leveraged long and yield ETFs: PLT, HOOI, SMCC, AMDU, HIMY, TRIL, and LLYZ.