Crypto Morning Brief: Space Announces Refund Guidelines; Major Token Unlocks for SUI, SIGN, KMNO, and Others This Week
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Crypto Morning Brief: Space Announces Refund Guidelines; Major Token Unlocks for SUI, SIGN, KMNO, and Others This Week
The Shenzhen People’s Procuratorate has lawfully instituted public prosecution against 30 individuals, including Sui Guangyi of Dingyifeng.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday’s Market Highlights
SEC and CFTC to Host Joint Conference on Cryptocurrency Regulatory Coordination
According to an official announcement, SEC Chair Paul S. Atkins and CFTC Chair Michael S. Selig will co-host a joint event at the CFTC headquarters on January 27, 2026, at 10:00 a.m. ET. The event will focus on inter-agency regulatory coordination and U.S. financial leadership in the cryptocurrency era. The two chairs stated that the initiative aims to clarify ambiguous regulatory boundaries and ensure innovation develops within the U.S. legal framework—serving U.S. investors, consumers, and America’s position as a global economic leader.
Microsoft, Apple, Tesla, and Meta to Release Earnings Reports Next Week
Next week, U.S. equity markets will closely watch earnings reports from four tech giants: Microsoft, Tesla, and Meta will release results on January 28; Apple will follow on January 29.
Over most of the past three years, the “Magnificent Seven” U.S. tech stocks have led broader market gains. However, this trend reversed at the end of 2025, as Wall Street began questioning the thousands of billions of dollars these companies have invested in AI development—and when those investments might yield returns.
UBS Group to Offer Bitcoin and Crypto Trading Services to Clients
According to Bloomberg, UBS Group AG—the world’s largest wealth management firm—is planning to offer cryptocurrency investment services to select private banking clients, marking its formal entry into the digital assets space.
As of September 30, 2025, UBS managed approximately $4.7 trillion in wealth assets. Sources familiar with the matter said UBS is vetting partners to launch crypto services; discussions have been ongoing for several months, but no final decision on implementation has yet been made.
Space Public Sale Refund Details: Total $12.3M, Top 5% Participants Eligible for 11%–21% Refunds
Space has published its public sale refund policy: All participants in the public sale may opt for a partial refund, with smaller contributors prioritized for the highest refund amounts. All refunds will be verified on-chain. Space has allocated an additional $5 million specifically for refunds, bringing the total refund amount to $12.3 million. Remaining funds will support platform launch, token deployment, and long-term ecosystem development. The process begins on January 27. According to Space, among the 4,677 participating wallets:
- All participants (100%) are eligible for partial refunds.
- 80% of participants may apply for refunds of up to 70% of their committed funds.
- 86% of participants may apply for refunds of up to 50% of their committed funds.
- The top 5% of participants may apply for refunds ranging from 11% to 21% of their committed funds.
Moonbirds Announces $BIRB Token TGE on January 28
According to official announcements, Moonbirds’ $BIRB token will undergo its token generation event (TGE) on January 28.
Per OpenSea data, the current floor price of Moonbirds NFTs stands at 2.479 ETH.
Coinbase CEO Summarizes Davos Forum: Tokenization Among Top Topics; Crypto × AI Growth Accelerating
Coinbase CEO Brian Armstrong shared key takeaways from his attendance at the World Economic Forum in Davos via social media:
- Tokenization emerged as one of the most discussed topics, drawing strong interest from Fortune 500 companies—with breakthrough developments expected in 2026;
- Crypto legislation—including the CLARITY Act—is progressing steadily; the Trump administration is the world’s most crypto-friendly government;
- Crypto and AI are highly complementary; infrastructure is already in place, and real-world usage is growing rapidly;
- Coinbase and Circle are collaborating in Bermuda to build a fully on-chain economy, aiming to create a replicable model for other countries.
Hardware Wallet Maker Ledger Plans U.S. IPO, Valuation May Exceed $4 Billion
According to the Financial Times, French hardware wallet manufacturer Ledger is preparing for an initial public offering (IPO) in the United States, with a potential valuation exceeding $4 billion. The company has engaged Goldman Sachs, Jefferies, and Barclays to lead the offering, which could close as early as this year.
Founded in 2014, Ledger primarily sells USB-style hardware wallet devices enabling secure storage of cryptocurrency assets. In 2023, following a funding round, Ledger’s valuation reached $1.5 billion, with investors including Singapore-based True Global Ventures and 10T Holdings.
Ledger CEO Pascal Gauthier stated in November last year that the company is considering a U.S. listing and confirmed annual revenue has reached over $100 million.
River Raises $12 Million in Strategic Funding Round, Maelstrom Fund Participates
River announced the successful close of a $12 million strategic funding round. Investors include Tron DAO, Justin Sun, Maelstrom Fund (founded by Arthur Hayes), The Spartan Group, and several Nasdaq-listed companies based in the U.S. and Europe. Proceeds will support River’s expansion across both EVM and non-EVM ecosystems—including TRON, Sui, and others—as well as continued development of on-chain liquidity infrastructure. Funds will accelerate ecosystem deployment, deepen stablecoin liquidity, and advance integration of satUSD across trading, lending, and other use cases.
Shenzhen People’s Procuratorate Files Prosecution Against 30 Individuals Including Sui Guangyi of Dingyifeng
According to an announcement on the WeChat account of the Shenzhen People’s Procuratorate, the Guangdong Provincial Shenzhen People’s Procuratorate recently reviewed and approved prosecution against 30 defendants—including Sui Guangyi and Ma Xiaoqiu—who allegedly conducted illegal fundraising activities through Shenzhen Dingyifeng Asset Management Co., Ltd., Hong Kong Dingyifeng International Holding Group Co., Ltd., and related entities in Shenzhen and elsewhere. Based on the PRC Criminal Law and the PRC Criminal Procedure Law, charges include fraud in raising funds, illegal absorption of public deposits, money laundering, embezzlement of duties, illegal border crossing, and providing false certification documents. The case was filed with the Shenzhen Intermediate People’s Court in Guangdong Province.
Earlier reports indicated that the involved parties allegedly engaged in illegal financial activities—including issuing fictitious wealth management products and the “DDO Digital Options.”
Michael Saylor Re-Posts Bitcoin Tracker Info; New BTC Purchase Data Expected Next Week
MicroStrategy founder Michael Saylor has again posted information related to its Bitcoin Tracker. Per historical precedent, MicroStrategy always discloses new Bitcoin purchases the day after publishing such updates.
Major Token Unlocks This Week for SUI, SIGN, KMNO, and Others
This week sees significant token unlocks for SUI, SIGN, KMNO, and others:
MIRA: $822,000 unlocked on January 26, representing 2.98% of circulating supply;
SAHARA: $5.48 million unlocked on January 26, representing 8.81% of circulating supply;
BLAST: $779,000 unlocked on January 26, representing 2.54% of circulating supply;
SIGN: $11.61 million unlocked on January 28, representing 17.68% of circulating supply;
JUP: $9.94 million unlocked on January 28, representing 1.70% of circulating supply;
TREE: $8.34 million unlocked on January 29, representing 39.41% of circulating supply;
KMNO: 229 million tokens unlocked on January 30, valued at ~$10.4 million, representing 3.68% of circulating supply;
SUI: 43.53 million tokens unlocked on February 1, valued at ~$64.4 million, representing 1.15% of circulating supply;
EIGEN: 36.82 million tokens unlocked on February 1, valued at ~$12.3 million, representing 8.88% of circulating supply.
Market Data
Recommended Reading
After Reading Buffett’s Shareholder Letters from 40 Years Ago, Here’s What I Want You to Know
This article offers an in-depth analysis of Warren Buffett’s 1981–1982 shareholder letters, exploring his classic insights on acquisition strategy, inflation’s impact on businesses, equity investment logic, and how to avoid value dilution. These ideas remain highly relevant in today’s investment environment.
This article discusses Bitcoin and Ethereum’s market outlook, macroeconomic trends for 2026, and investment strategies. Tom Lee believes the market may experience a “bear-market-like” correction in 2026, though he views the long-term trend as still being in the early stage of a decade-long bull market. He advises investors not to time the market but instead treat corrections as buying opportunities. The piece also explores gold vs. crypto value propositions, blockchain applications, and future trends in financial education.
Russell 2000 Hits All-Time High—An Overlooked Crypto Cycle Signal?
This article analyzes historical data showing that Russell 2000 index breakouts in 2016 and 2020 coincided with the onset of Bitcoin bull markets—and that both indices exhibit high sensitivity to macroeconomic signals. However, the author cautions against interpreting this correlation as causation, highlighting key differences in today’s environment—including ETF influence, volatility shifts, and diminishing halving effects. The article further notes that despite the Russell 2000’s record highs, fundamentals remain weak and capital is flowing out.
Cathie Wood’s Annual Blockbuster: ARK’s 2026 Big Idea Report
This article introduces ARK Investment’s annual research report, *Big Ideas 2026*, focusing on the interdependence among AI, blockchain, robotics, energy storage, and multi-omics—and their collective potential to reshape the global economy. The report forecasts these technologies will drive the world into a “Great Acceleration” over the next decade, detailing specific market opportunities and growth trajectories across each domain.
The Collapse of Trove: An Overly Premature Experiment in Collectibles Derivatization
This article analyzes the root causes behind Trove’s collapse and deeper systemic issues. Trove attempted to bring collectible assets into perpetual derivatives markets, building an index-based pricing financial architecture. However, due to immature underlying market conditions, the project launched prematurely—amplifying risk and culminating in immediate post-launch token devaluation. The article also examines the current state and future trajectory of the collectibles tokenization market.
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