Day: January 30, 2026

Why Proof-of-Reserves Isn’t Enough to Trust Crypto Exchanges

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What is proof-of-reserves? At its core, proof-of-reserves is a public demonstration that a custodian holds the assets it claims to hold on behalf of users, typically using cryptographic methods and onchain transparency. If every crypto exchange can publish a proof-of-reserves (PoR) report, why can withdrawals still be delayed or halted during a crisis? The truth is that proof-of-reserves is not a trust guarantee. It shows whether verifiable assets exist on a platform at a single point in time, but it does not confirm that the platform is solvent, liquid or…

Silver plunges 35% in historic reversal in worst intraday loss ever

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Silver plunged more than 35% on Friday to around $74, marking its largest intraday decline ever recorded, before rebounding to roughly $82 at press time. Gold fell more than 12% to near $4,700 after touching record highs above $5,500 earlier in the week. The selloff followed a historic rally that saw silver surge past $120 and gold climb to unprecedented levels, driven by inflation hedging, dollar weakness, and speculative momentum. Friday’s sharp reversal reflected a sudden shift in sentiment as traders moved to lock in profits amid rising macro uncertainty.…

DeFi Stays Outside Rules as Regulators Tighten Elsewhere

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The European Union’s new crypto tax reporting regime under DAC8 is intentionally focused on enforceable targets, leaving decentralized finance (DeFi) outside its scope for now. Colby Mangels, a former adviser to the Organisation for Economic Co-operation and Development (OECD) and now Taxbit’s global head of government solutions, said the rules prioritize identifiable intermediaries such as custodians and exchanges, which will be required to collect and report standardized user activity data under the OECD’s Crypto Asset Reporting Framework (CARF). However, the DeFi carve-out may not last. Mangels said tax authorities are…

Bitcoin’s $80K Last Support At Risk: Will Altcoins Follow?

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Key points: Bitcoin’s break below $84,000 tilts the advantage in favor of the bears, opening the doors for a potential fall to $74,508. Several major altcoins have slipped below their support levels, signaling that the bears are attempting to take charge. Bitcoin (BTC) remains under pressure as sellers attempt to sustain the price below the $84,000 level. BTC’s fall near $81,000 caused $1.77 billion in liquidations in the past 24 hours, per CoinGlass data. Several analysts have turned bearish and expect BTC’s downtrend to continue. They anticipate BTC to fall…

Kazakhstan allocates $350M from sovereign wealth fund to crypto reserve

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Kazakhstan has set aside $350 million from the National Fund of the Republic of Kazakhstan to support the formation of a national crypto reserve, Deputy Chairperson of the National Bank of Kazakhstan Aliya Moldabekova said at the Annual Business Review this week. Established to manage the country’s resource wealth, the National Fund of the Republic of Kazakhstan accumulates revenues from oil, gas, and mineral extraction and serves as a fiscal buffer to support economic stability during periods of stress. The National Investment Corporation (NIC), a subsidiary of the National Bank…

Hong Kong Regulators to Submit Draft Bill for Crypto Framework in 2026

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Christopher Hui, Secretary for Financial Services and the Treasury of Hong Kong, said local financial regulators are planning to submit a draft framework related to digital assets sometime in 2026. In comments prepared for a Friday policy briefing of the Hong Kong Legislative Council’s Finance Committee, Hui said the Financial Services and the Treasury Bureau and  Securities and Futures Commission planned to submit a draft ordinance related to regulations for providers offering crypto advisory services. He added that the two regulators were consulting the public after releasing a digital asset…

Silver plunges over 20% as gold extends selloff after record highs

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Profit taking accelerates as stronger dollar and Fed leadership shift weigh on metals. Gold and silver extended their sharp declines today, deepening a correction that began after both metals surged to record highs earlier in the week. Gold, which topped $5500 for the first time on Wednesday, fell further below the $5000 level, while silver extended losses to more than 20%, sliding to around $92 an ounce. The selloff followed a broad risk-off move on Thursday that hit stocks, crypto, and commodities. Gold plunged about 5% on Thursday to near…

Nubank Wins Conditional Approval for US National Bank Charter

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Nubank has received conditional approval from the US Office of the Comptroller of the Currency (OCC) to form a national bank, a step that allows the fintech to offer deposits, lending, credit cards and digital asset custody in the United States. The approval moves Nubank into the bank organization phase, during which it must meet capitalization and supervisory conditions and secure additional approvals from the Federal Deposit Insurance Corporation and the Federal Reserve before launching operations. According to a company announcement on Friday, the US bank will be led by…

Saylor says Kevin Warsh will become first pro-Bitcoin Fed chair

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Michael Saylor, executive chairman of Strategy, predicts that Kevin Warsh, recently nominated by Trump to lead the Federal Reserve, will soon become the first pro-Bitcoin chairman of the central bank. Soon, Kevin Warsh will be the first pro-Bitcoin Chairman of the Federal Reserve.pic.twitter.com/afEBrBFeWX — Michael Saylor (@saylor) January 30, 2026 Trump has praised Warsh as possibly “the best” choice to lead the Fed. But is the Bitcoin hype justified? Based on what we’ve known so far, the former Fed governor is neither anti-Bitcoin nor a maximalist. In a 2021 interview…

Brazil’s Nubank gets conditional approval to establish US national bank

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Nu, Brazil’s largest digital bank, has obtained conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a US national trust bank, Nubank, N.A., according to a recent announcement. Conditional OCC approval lets Nu enter the organization phase to build Nubank, N.A., but operations can’t start until satisfying OCC conditions, FDIC deposit insurance approval, and Federal Reserve clearance. Regulators mandate full capitalization within 12 months and bank opening within 18 months. Nu said in a statement that full approval of the charter would allow the bank…