Crypto Morning News: WLFI Launches Lending Market, BitMine Plans to Slow Down ETH Accumulation Pace
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Crypto Morning News: WLFI Launches Lending Market, BitMine Plans to Slow Down ETH Accumulation Pace
South Korea ends nine-year corporate crypto ban, allows 5% equity investment in top 20 cryptocurrencies.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Developments
Multiple institutions forecast delays in the earliest timing for Fed rate cuts
According to Jinshi Data, multiple institutions predict that the earliest timing for Federal Reserve rate cuts will be postponed:
Citigroup: Now expects the Fed to cut rates by 25 basis points each in March, July, and September, compared to previous forecasts of January, March, and September.
Goldman Sachs: Now expects the Fed to make two 25-basis-point rate cuts in June and September, previously forecasting cuts in March and June.
Barclays: Now anticipates 25-basis-point rate cuts in June and December, having previously expected cuts in March and June.
Morgan Stanley: Now projects 25-basis-point rate cuts in June and September, revising earlier expectations of cuts in January and April.
JPMorgan Chase: No longer expects a rate cut in 2026; instead, it now forecasts a rate hike in 2027. Previously, it had expected a 25-basis-point cut in January, but now predicts a 25-basis-point rate increase in Q3 2027.
Former Fed chairs defend Powell, calling criminal probe an “unprecedented” attack on central bank independence
According to Jinshi Data, former Federal Reserve Chairs Janet Yellen, Ben Bernanke, and Alan Greenspan have issued a joint statement supporting current Chair Jerome Powell. The group described the criminal investigation targeting Powell as an “unprecedented” assault on the Fed’s independence.
CFTC Chair Selig establishes Innovation Committee to strengthen regulation of digital assets and prediction markets
According to The Block, Michael Selig, the new chair of the U.S. Commodity Futures Trading Commission (CFTC), announced on January 12 the renaming of the Technology Advisory Committee to the Innovation Advisory Committee. He plans to appoint leaders from the industry—including Polymarket CEO Shayne Coplan, Kalshi CEO Tarek Mansour, and Gemini CEO Tyler Winklevoss—as charter members of the committee.
Selig stated: "Innovators are leveraging technologies such as artificial intelligence, blockchain, and cloud computing to modernize traditional financial systems and build entirely new ones. Under my leadership, the committee will develop purpose-fit regulatory frameworks for these emerging financial frontiers."
Former New York Mayor Eric Adams announces launch of “NYC Token”
According to Fortune, former New York City Mayor Eric Adams announced after leaving office his plan to launch a cryptocurrency called “NYC Token.” He said the project aims to raise funds to combat antisemitism, anti-American sentiment, and promote blockchain education for children. Adams introduced the token at Times Square but did not disclose partners, launch timeline, fund usage mechanisms, or technical details, only stating that ordinary New Yorkers would be able to invest. During his tenure, Adams was a strong advocate for the crypto industry, though he faced controversy over ethics and conflicts of interest. Incoming Mayor Zohran Mamdani has clearly stated he will not purchase the token.
Dubai bans privacy coins and tightens stablecoin regulations; new framework effective January 12
According to CoinDesk, the Dubai Financial Services Authority (DFSA) has fully banned privacy coins within the Dubai International Financial Centre (DIFC), citing incompatibility with global compliance standards and risks related to money laundering and sanctions evasion.
The updated crypto token regulatory framework took effect on January 12, shifting approval responsibilities to firms while tightening the definition of stablecoins. The DFSA defines "fiat crypto tokens" as those pegged to fiat currencies and backed by high-quality liquid assets capable of meeting redemption demands even under market stress. Algorithmic stablecoins like Ethena are not considered stablecoins under the DIFC framework but are classified simply as crypto tokens.
Elizabeth Wallace, Deputy Director of Policy and Legal at DFSA, explained that privacy coins enable concealment of transaction history and ownership, making it nearly impossible for firms to comply with Financial Action Task Force (FATF) requirements. The new rules also prohibit regulated entities from using or offering privacy tools such as mixers and tumblers that obscure transaction details.
South Korea ends nine-year corporate crypto ban, allows up to 5% equity investment in top 20 cryptos
According to BeInCrypto, South Korea’s Financial Services Commission (FSC) has officially approved allowing listed companies and professional investors to invest up to 5% of their equity annually in the top 20 cryptocurrencies by market capitalization, ending a ban in place since 2017. Approximately 3,500 eligible entities will gain market access.
WLFI launches lending market powered by Dolomite
Market sources report that WLFI has launched a lending market powered by Dolomite.
Bloomberg: WLFI crypto lending platform named “World Liberty Markets,” supports ETH, USD1, USDT, etc.
According to Bloomberg, the Trump family’s crypto venture World Liberty Financial has launched a peer-to-peer digital asset lending platform named “World Liberty Markets,” which will go live on Monday. In addition to Ethereum, stablecoins USDC and USDT, the platform will support the company’s native token WLFI and its stablecoin USD1.
Bloomberg: Standard Chartered plans to establish crypto custody brokerage service
According to Bloomberg, Standard Chartered is planning to launch a cryptocurrency custody brokerage service to enhance its competitiveness in the digital asset sector.
Insiders revealed that the London-based bank will house this new business within its wholly-owned venture arm, SC Ventures. Placing the unit under SC Ventures could help Standard Chartered avoid applying stringent capital requirements for digital assets within its core corporate and investment banking divisions.
BitGo plans U.S. IPO aiming to raise up to $201 million
According to Reuters, cryptocurrency custody startup BitGo said in regulatory filings on Monday that it plans to raise up to $201 million through an initial public offering (IPO) in the United States.
BitMine: Will slow ETH accumulation without shareholder approval
According to CoinDesk, Thomas Lee, chairman of Ethereum treasury firm BitMine, said on Monday that the company’s ability to continue accumulating ETH depends on shareholder approval for issuing new shares. Without approval, the company may be forced to slow purchases in the coming weeks. Lee explained: "BitMine is nearing exhaustion of its current authorized 500 million shares, after which our ETH accumulation will decelerate." The shareholder vote will take place this Thursday, requiring support from 50.1% of outstanding shares to pass.
Market Movements
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