Month: January 2026

Hyperliquid trader earns $84M shorting Ethereum with high leverage

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A trader known as “ETHMegaBear” has earned roughly $84 million in total unrealized profits by shorting Ethereum on Hyperliquid, a decentralized perpetual futures exchange, according to data tracked by Lookonchain. The #ETHMegaBear(0x20c2) has racked up over $80.9M in profits by shorting $ETH — absolutely insane! This trader has been shorting $ETH on #Hyperliquid since 2024, consistently using max leverage (previously 50x, now 25x). He currently holds a 30,582 $ETH($88.9M) short.… pic.twitter.com/wgL2Ba6bHO — Lookonchain (@lookonchain) January 29, 2026 ETHMegaBear has been shorting ETH on Hyperliquid since 2024, consistently using maximum leverage.…

Bitcoin slides to $85K as global selloff sweeps stocks, tech, and gold

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Bitcoin fell more than 4% to around $85K as a broad risk-off move swept global markets, with the leading digital asset dropping alongside equities, tech stocks, and gold. The S&P 500 declined over 1% while the Nasdaq slid more than 1.8%, with US equities opening sharply lower following a steep drop in Microsoft shares. Microsoft fell about 11% after its earnings report, dragging the broader technology sector lower. Tesla dropped around 2%, Google slipped roughly 2.5%, and Nvidia fell about 1.5%. The selloff extended beyond equities. Gold, which topped $5,500…

US Senate Kicks off Markup of Long-Awaited Crypto Market Structure Bill

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US lawmakers are beginning a key markup session Thursday morning on a long-awaited crypto market structure bill, marking a pivotal step in Congress’ effort to establish clearer rules for digital asset markets. The bill has been months in the making and follows sustained pressure from the crypto industry and some lawmakers to move beyond enforcement-led regulation. Today’s session may signal how much bipartisan support remains and which provisions may face resistance as lawmakers debate the future framework for US digital asset markets. This live blog will track key moments and…

Tether supports stablecoin yield ban, distances itself from Coinbase in crypto market structure bill: Report

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Tether has expressed support for a provision in the draft US crypto market structure legislation, including the section that bans yield on stablecoins, which has drawn criticism from crypto community members and prominent figures like Coinbase CEO Brian Armstrong, Brogan Law reported Thursday, citing sources familiar with the matter. Tether’s US arm reportedly met with Senate members following Armstrong’s public critique of the latest version of the bill. Coinbase’s chief withdrew support for the legislation over several key dealbreakers, including the restriction preventing exchanges from providing interest on stablecoins. He…

US stocks fall early as Microsoft selloff drags indexes lower

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Big Tech weighs on US stocks despite earnings beats, putting pressure on Apple ahead of results. US equities fell shortly after the opening bell today, with the S&P 500 down about 0.8% as a sharp selloff in Microsoft weighed on major indexes. Microsoft shares dropped more than 11% in early trading, marking their steepest intraday decline since March 2020. The selloff followed Microsoft’s fiscal second-quarter earnings report released after the bell on Wednesday. The company beat Wall Street estimates on both revenue and profit, with cloud revenue surpassing $50 billion…

Messari Calls DePIN a $10B Sector with Resilient Revenues

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Decentralized physical infrastructure networks (DePINs) have been written off as dead by many investors, but a new “State of DePIN 2025” report from Messari and Escape Velocity argues the sector has steadily grown into a $10 billion market generating $72 million in onchain revenue last year alone. According to the report, the “class of 2018-2022” DePIN tokens are down a massive 94%-99% from all‑time highs. Yet, leading projects now post verifiable recurring revenue and trade at 10 to 25 times revenue multiples, levels Messari characterizes as undervalued relative to growth.…

UK Lawmakers Open Inquiry Into Proposed Stablecoin Rules

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The House of Lords Financial Services Regulation Committee has opened an inquiry into proposed stablecoin rules in the United Kingdom, seeking public input on plans put forward by the Bank of England (BoE) and the Financial Conduct Authority (FCA). The inquiry will examine how stablecoins could affect traditional financial services such as banking and payments, as well as the opportunities and risks created by their growing use in the UK, the committee said in a Thursday statement. Lawmakers said the review will assess whether the regulatory frameworks proposed by the…

Dakota Launches Stablecoin Platform for Enterprise Payments and Treasury

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Financial technology company Dakota launched a stablecoin infrastructure platform as more enterprises look to adopt digital dollars without taking on the operational and regulatory burden of custody and compliance. Dakota will handle custody, compliance and settlement on behalf of its clients. CEO Ryan Bozarth told Cointelegraph that the company operates in the US as a registered Money Services Business, while working with licensed banking and regulated payments partners in other regions. It is also pursuing Electronic Money Institution and Crypto-Asset Service Provider licenses in Europe. This arrangement, according to Bozarth,…

SEC Chair Paul Atkins supports crypto in 401(k) plans with safeguards for retirees

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SEC Chair Paul Atkins has voiced support for allowing crypto investments in 401(k) retirement plans, provided they are managed carefully with protective guardrails. Speaking alongside CFTC Chair Mike Selig in a CNBC interview today, Atkins addressed concerns raised by Senator Elizabeth Warren, who warned that allowing Americans to invest in crypto through retirement accounts could put workers and families at risk of major losses. Atkins noted that many Americans already have indirect exposure to crypto through professionally managed pension funds. The goal is to carefully let 401(k) plans offer similar…

Bitcoin Risks a Trip to “Bearadise” at the Hands of a Manipulative Entity

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Bitcoin (BTC) lingered beneath $88,000 into Thursday’s Wall Street open as attention switched to order-book manipulation. Key points: Bitcoin is facing fresh attempts to manipulate short-term price action, says analysis. Order-book data flags key support and the risk of a trip to “Bearadise” if it fails to hold. Wyckoff BTC price bottom calls grow more confident as the monthly close nears. Bitcoin at “gateway to ‘Bearadise’” Data from TradingView showed ongoing BTC price weakness, with BTC/USD acting in an increasingly narrow range. BTC/USD one-hour chart. Source: Cointelegraph/TradingView After failing to…