Daily Crypto Briefing – January 17, 2026

Crypto markets face regulatory uncertainty as legislative progress stalls and institutional sentiment shifts amid technical developments and security concerns.

Top Stories

White House Threatens to Drop Crypto Bill Support

Cointelegraph reports the White House is considering withdrawing support for the CLARITY Act after Coinbase pulled its backing. The exchange warned the current draft would restrict DeFi, ban tokenized equities, and eliminate stablecoin rewards.

Musk's OpenAI ICO Plans Revealed

Internal notes obtained by CoinDesk show Elon Musk agreed to explore a $10 billion ICO for OpenAI in early 2018. The plan included creating a for-profit arm but was later abandoned when Musk exited the organization.

Ethereum Hits $3.4K But Traders Remain Cautious

Cointelegraph analysis shows ETH cooling from its recent rally due to US macroeconomic factors, reduced DApp activity, and falling fees impacting professional traders' sentiment on Ether derivatives.

Buterin Calls for Ethereum Values Reset

Vitalik Buterin argues that Ethereum must stop sacrificing its core values for mainstream adoption. He's pushing for improved private payments, easier full node operation, and more decentralized applications.

Regulation

Legislative Setbacks

• White House considers dropping crypto bill after Coinbase withdrawal, potentially destabilizing market regulations
• Galaxy CEO predicts compromise on stablecoins despite legislative delays
• Senate Democrats re-engage in crypto bill negotiations but seek to keep details private
• Developer protections don't belong in market structure bill, senators argue

Global Developments

• Belarus establishes framework for crypto banking with new presidential decree
• DOJ confirms seized Samourai Bitcoin will remain in US Strategic Bitcoin Reserve
• South Korea limits foreign exchange access as Google Play enforces licensing requirements

Markets

Price Action

• Bitcoin pulls back to $94,300 as US stocks and precious metals decline
• Cardano hits supply wall near $0.40 with technical indicators pointing to potential downside
• Axie Infinity extends gains above $1.20 amid gaming token recovery
• Vaulta crashes 20% to new all-time low below $0.14

Institutional Activity

• Jefferies strategist exits Bitcoin over quantum computing concerns
• Crypto card spending hits $18 billion annualized as stablecoin use shifts to payments
• Mining stocks rally as Riot inks AMD deal and Galaxy expands in Texas

Technology

Security Incidents

• Massive $282 million hardware wallet scam targets victim through social engineering
• DeadLock ransomware abuses Polygon blockchain to rotate proxy servers

Infrastructure Updates

• Ethereum staking backlog grows to $8 billion as new validators face 44-day wait
• CME Group to offer Cardano, Chainlink, Stellar futures as institutions seek regulated tools
• Riot stock surges on AMD lease deal and Texas land acquisition

DeFi & Stablecoins

Market Developments

• PNC Bank CEO says stablecoins must choose between payment tool or money market fund roles
• Stablecoin arms race benefits customers but aggressive APYs won't last forever
• [HR provider Gusto pilots stablecoin payouts](https://www.coindesk.com/business/2026/01/16/hr-services-provider-gusto-taps-zeroh