Galaxy plans to deploy a new hedge fund strategy that targets both crypto tokens and traditional financial stocks as the “up-only” phase fades.

Bhutan is adding to its growing list of blockchain initiatives. It already runs a Bitcoin mining operation and also launched a self-sovereign ID system powered by Ethereum.

Galaxy's hedge fund launch amid market volatility highlights confidence in digital assets and potential growth in regulatory and tech-driven sectors.

The post Galaxy plans to debut $100M hedge fund amid market pullback appeared first on Crypto Briefing.

The institutionalization of crypto by 2026 could revolutionize financial systems, enhancing liquidity, efficiency, and global settlement.

The post Ripple President Monica Long predicts half of Fortune 500 will adopt crypto strategies this year appeared first on Crypto Briefing.

Bitcoin treasury company Strategy has unveiled a new $2.13 billion BTC acquisition, its largest spend since July 2025’s $2.46 billion purchase.

Strategy Has Expanded Its Bitcoin Reserves By 22,305 BTC

As announced by Strategy co-founder and chairman Michael Saylor in an X post, the company has completed another Bitcoin acquisition, this one involving 22,305 BTC.

According to the filing with the US Securities and Exchange Commission (SEC), the purchase occurred in the period between January 12th and 19th, and cost Strategy $95,284 per token or $2.13 billion in total. The firm sold shares of its STRK, STRC, and MSTR at-the-market (ATM) stock offerings to fund the buy.

Usually, Strategy reveals new acquisitions on Mondays, but this time the announcement has come on a Tuesday. The routine Sunday Saylor post foreshadowing the buy, however, did come on time.

This time, the Strategy chairman made the post with the caption “₿igger Orange.” Many in the community speculated that the caption was a hint at the next purchase from the company being bigger than the last, which already involved a significant sum of 13,627 BTC.

And indeed, not only has the buy been larger, it has in fact been the largest Bitcoin acquisition made by the firm since November 2024 in terms of the number of tokens involved. The larger purchase in that month expanded Strategy’s treasury by a whopping 55,500 BTC.

When considering the USD value, though, the latest acquisition falls short of a purchase from late July 2025, costing the company about $2.46 billion. BTC was trading at a higher value back then, so the larger USD sum got the company a lower amount of coins (21,021 BTC).

Following the latest purchase, Saylor’s firm has crossed the 700,000 BTC milestone, as its holdings have now risen to 709,715 BTC. Strategy spent a total of $53.92 billion on this stack and its current value stands at $63.55 billion, putting it in a profit of nearly 18%.

As Strategy continues to accumulate, it’s solidifying its already dominant position as by far the largest corporate holder of Bitcoin, as rankings from BitcoinTreasuries.net indicate.

Strategy’s closest digital asset treasury competitor isn’t a Bitcoin company, but rather an Ethereum one: Bitmine. Originally a mining-focused firm, Bitmine adopted an ETH treasury strategy in mid-2025 and has quickly established itself in the space, becoming the number one corporate holder of Ethereum and number two in overall rankings behind Strategy.

According to a Tuesday press release, Bitmine has also added to its reserves over the past week, purchasing 35,268 ETH. This has taken the company’s total holdings to 4,203,036 ETH, equivalent to nearly 3.5% of the cryptocurrency’s entire circulating supply.

BTC Price

Bitcoin has been showing bearish momentum recently as its price has declined to the $89,300 level.

A year into his presidency, US President Donald Trump and his family have reportedly seen a notable shift in their wealth distribution, with a growing concentration of crypto ventures linked to the presidential family.

Trump Family’s Wealth Gets Crypto Boost

On Tuesday, Bloomberg reported that the Trump family’s wealth has remained relatively steady over the past year despite the plunging value of their social media company, Trump Media & Technology Group Corp, and the massive gains of their new crypto ventures.

According to the report, the family’s overall net worth has not grown significantly since President Trump’s inauguration, remaining at around $6.8 billion, as data from the Bloomberg Billionaires Index shows.

Notably, the gains from their new projects were offset by the losses of Trump Media, whose shares have declined by around 66% over the past 12 months, despite efforts to diversify into various endeavors.

Nonetheless, “the way the Trumps’ wealth is distributed now — particularly its concentration in virtual assets and public companies, some of which didn’t exist when he left office in 2021 — represents a sea change in how they’ll earn money for years to come,” the report highlighted.

Per Bloomberg, the family’s most notable change has been the growing concentration of their net worth in cryptocurrencies, with one-fifth of their fortune coming from crypto projects for the first time.

As a result, “cryptocurrency projects became the key driver of the Trump family’s wealth last year,” generating around $1.4 billion from the different digital asset-related ventures managed by the President’s eldest sons, Eric and Donald Trump Jr.

In a statement to the news media outlet, Eric Trump reaffirmed that his family’s crypto push was driven by their experience with banks after the President’s first term. “Having been canceled by banks, out of political malice, led us to many incredible opportunities, as we redefine the future of finance,” he asserted.

Digital Asset Fortune Breakdown

Over the past year, various news outlets have estimated the first family’s crypto fortune, with some reports calculating its value at around $1 billion. In October, Eric Trump shared that the real number was “probably more.”

While the Trump family dived into multiple crypto-related projects, Bloomberg analysis highlighted three of their main ventures: World Liberty Financial (WLFI), American Bitcoin Corp., and the official TRUMP and MELANIA memecoins.

World Liberty Financial reportedly sold $550 million worth of tokens, generating $390 million for the presidential family, according to the news media outlet’s calculations. In August, the company announced its partnership with Alt5 Sigma and became an investor in the technology firm, which sought to raise $1.5 billion for its crypto treasury strategy based on WLFI.

According to Bloomberg, “the Trumps netted more than $500 million” from the deal. The company also launched its USD1 stablecoin in March, which has grown to more than $3 billion since its debut. Bloomberg estimated that the business could be worth more than $300 million.

Meanwhile, the official TRUMP and MELANIA memecoins, which launched the weekend before President Trump’s second inauguration, generated gains worth roughly $280 million from the family’s holdings and associated proceeds.

In addition, Eric Trump owns about 7.4% of American Bitcoin, worth roughly $114 million despite the company’s shares declining 82% since their September peak. Donald Jr. reportedly owns a smaller, undisclosed amount.

The report also noted that the Trump family’s fortune could be worth billions more on paper, as they still own founder WLFI tokens, worth $3.8 billion at current prices. Nonetheless, these tokens were not included in the calculations as they remain locked.

NYSE said it is developing a platform for trading and on-chain settlement of tokenized securities, and will seek regulatory approvals for a proposed new NYSE venue powered by that infrastructure.

According to the owners, ICE, the system is designed to support 24/7 operations, instant settlement, orders sized in dollar amounts, and stablecoin-based funding. It combines NYSE’s Pillar matching engine with blockchain-based post-trade systems that have the capability to support multiple chains for settlement and custody.

ICE did not name which blockchains would be used. The company also framed the venue and its features as contingent on regulatory approvals.

The scope ICE described is U.S.-listed equities and ETFs, including fractional share trading. It said tokenized shares could be fungible with traditionally issued securities or natively issued as digital securities.

ICE said tokenized shareholders would retain traditional dividends and governance rights. It also said distribution is intended to follow “non-discriminatory access” for qualified broker-dealers.

The forward-looking market-structure implication sits less in the token wrapper and more in the decision to pair continuous trading with immediate settlement.

Under that design, the binding constraint shifts from matching orders during a session to moving money and collateral across time zones and outside banking hours (inference based on settlement and operating-hour constraints described by regulators and ICE).

U.S. markets only fairly recently completed the move from T+2 to T+1 settlement, effective May 28, 2024, a project the SEC tied to updated rules for clearing agencies and broker-dealers. FINRA has also issued reminders that even a one-day compression requires coordinated changes in trade reporting and post-trade workflows.

Always-on trading raises settlement and funding demands

Pressure for longer trading windows is also building in listed equities, with Nasdaq publicly described as seeking SEC approval for a 23-hour, five-day trading schedule. ICE’s proposal extends the concept by pairing always-available trading with a settlement posture it labeled “instant.”

That approach would require market participants to pre-position cash, credit lines, or eligible on-chain funding at all times (inference grounded in the “instant settlement” and 24/7 features, and the post-trade funding constraints reflected in the T+1 migration).

For broader context on how quickly tokenization is spreading in finance, see CryptoSlate’s coverage of tokenized assets.

ICE made the funding and collateral angle explicit, describing the tokenized securities platform as one component of a broader digital strategy. That strategy also includes preparing clearing infrastructure for 24/7 trading and potential integration of tokenized collateral.

ICE said it is working with banks including BNY and Citi to support tokenized deposits across ICE’s clearinghouses. It said the goal is to help clearing members transfer and manage money outside traditional banking hours, meet margin obligations, and accommodate funding requirements across jurisdictions and time zones.

That framing aligns with DTCC’s push around tokenized collateral. DTCC has described collateral mobility as the “killer app” for institutional blockchain use, according to its announcement of a tokenized real-time collateral management platform.

A near-term data point for how quickly tokenized cash-equivalents can scale sits in tokenized U.S. Treasuries. RWA.xyz displays the total value of $9.33 billion as of press time.

ICE’s emphasis on tokenized deposits and collateral integration creates a path where similar assets become operational inputs for brokerage margin and clearinghouse workflows. That scenario is an inference grounded in ICE’s stated clearing strategy and DTCC’s collateral thesis, including the focus on mobility.

Stablecoins, tokenized deposits, and collateral mobility

For crypto markets, the bridge is the settlement asset and the collateral workflow. ICE explicitly referenced stablecoin-based funding for orders and separately referenced tokenized bank deposits for clearinghouse money movement.

One base-case scenario is a settlement-asset race where stablecoins and bank-issued tokenized deposits compete for acceptance in brokerage and clearing operations. That could push more institutional treasury activity into on-chain rails while keeping the compliance perimeter centered on broker-dealers and clearing members.

A second scenario is collateral mobility spillover, where tokenized collateral becomes a primary tool for intraday and overnight margining in a 24/7 environment. That shift could increase demand for tokenized cash-equivalents such as Treasury tokens that can move in real time under defined eligibility rules.

In that design, the operational question becomes which chains, custody arrangements, and permissioning models satisfy broker-dealer requirements. ICE said only that the post-trade system has the capability to support multiple chains and did not identify any specific network.

A third scenario reaches Bitcoin through cross-asset liquidity. Always-available equities and ETFs, paired with faster settlement expectations, could compress the boundary between “market hours” and “crypto hours,” making funding conditions a more continuous input into BTC positioning (scenario inference anchored to ICE’s 24/7 equities and ETF scope and the mechanics of TradFi access via ETF wrappers).

Farside data shows large daily net flows into U.S. spot Bitcoin ETFs on several early-January sessions, including +$697.2 million on Jan. 5, 2026, +$753.8 million on Jan. 13, 2026, and +$840.6 million on Jan. 14, 2026.

That channel transmits equity-like allocation decisions into BTC exposure, alongside other flow drivers covered in CryptoSlate’s ETF inflows reporting.

Why macro and regulation will shape the rollout

Macro conditions set the incentive gradient for these plumbing changes because collateral efficiency matters more when rate policy and balance-sheet costs shift. The OECD’s baseline projects the federal funds rate will remain unchanged through 2025 and then be lowered to 3.25–3.5% by the end of 2026.

That path can reduce carry costs while leaving institutions focused on liquidity buffers and margin funding as trading windows lengthen (analysis tied to OECD rates and ICE’s 24/7 clearing focus). Under a 24/7 regime with instant settlement as a design goal, margin operations can become more continuous.

That dynamic can pull attention toward programmable cash movement, tokenized deposits, and tokenized collateral as tools for meeting obligations outside bank cutoffs.

For more on one of the key collateral-like building blocks, see CryptoSlate’s deep dive on tokenized Treasuries.

For crypto-native venues, the nearer-term implication is less about NYSE listing tokens and more about whether regulated intermediaries normalize on-chain cash legs for funding and collateral management. That can affect demand for stablecoin liquidity and short-duration tokenized instruments even if the trading venue remains permissioned (scenario inference based on ICE’s stated objectives).

DTCC’s positioning of collateral mobility as an institutional blockchain use case offers a parallel track where post-trade modernization proceeds through constrained implementations rather than open-access markets. That approach can shape where on-chain liquidity forms and which standards become acceptable for settlement and custody.

ICE did not provide a timeline, did not specify eligible stablecoins, and did not identify which chains would be used. The next concrete milestones are likely to center on filings, approval processes, and published eligibility criteria for funding and custody.

NYSE said it will seek regulatory approvals for the platform and the proposed venue.

The post Wall Street’s secret blockchain platform is coming for your dividends and it’s using stablecoins to do it appeared first on CryptoSlate.

Strategy (formerly MicroStrategy) acquired an additional 22,305 Bitcoin for approximately $2.13 billion between Jan. 12 and Jan. 19, continuing an aggressive accumulation campaign that has absorbed 3.38% of the top crypto's total supply.

That works out to 3.55% of the circulating supply of 19.97 million coins.

The purchases were executed at an average price of $95,284 per bitcoin, according to a Jan. 20 8-K filing with the Securities and Exchange Commission (SEC).

The latest acquisition brings Strategy’s total Bitcoin holdings to 709,715 BTC, a hoard worth roughly $64 billion. The company’s cost basis for the total stack is approximately $53.92 billion, or an average of $75,979 per bitcoin, implying around $10.5 billion in paper gains at current prices.

How Strategy is funding its Bitcoin purchases

While the headline number highlights the company’s relentless buying, the mechanics behind the purchase reveal a significant shift in how Strategy funds its operations.

These latest acquisitions were funded using proceeds from the firm's at-the-market sales of its Class A common stock (MSTR), its perpetual Stretch preferred stock (STRC), and the Series A Perpetual Strike Preferred Stock (STRK).

According to the SEC filing, the Michael Saylor-led Strategy sold 10,399,650 MSTR shares for approximately $1.8 billion last week. It still has about $8.4 billion worth of shares to fund future BTC purchases.

However, the preferred channel is seeing increased activity.

The filing showed Strategy sold 2,945,371 STRC shares for around $294.3 million (with $3.6 billion shares remaining) and 38,796 STRK shares for $3.4 million (with $20.3 billion shares remaining).

This increased bet shows that the company's attempt to turn its bitcoin treasury strategy into a repeatable “yield SKU” that can sit quietly in brokerage accounts and income portfolios is yielding significant interest.

Notably, this financial engineering has produced four distinct exposure tiers that trade on the Nasdaq exchange. This means investors do not need any BTC know-how to invest, as they can simply buy them through a regular brokerage account.

The product lineup is segmented by risk appetite, offering four distinct ways to play the Strategy trade.

The headline act is the Variable Rate Series A Perpetual Stretch Preferred Stock, or STRC. Marketed explicitly as “short duration high yield credit,” this security currently pays an 11.00% annual dividend in monthly cash installments.

Unlike a standard bond where market forces dictate the yield, STRC is an issuer-managed product. Strategy retains the policy power to adjust the dividend rate to ensure the stock trades near its $100 par value.

Data from STRC.live shows that the firm has accumulated 27,000 BTC from the STRC fundraiser.

Below STRC sits a tiered structure of fixed-rate perpetuals.

For the investor who wants a piece of the equity upside, there is STRK (“Strike”). It pays an 8% annual dividend and is non-cumulative (meaning missed payments are lost forever).

However, it functions as a hybrid, offering convertibility to stock that captures about 40% of the gains if Strategy’s common shares rally.

For the risk-averse income seeker, the company offers STRF (“Strife”). This 10% perpetual preferred cannot be converted to stock, but it sits higher in the capital structure.

It is cumulative, meaning the company must make up any missed dividend payments later. With $1.6 billion remaining in capacity, it represents the most conservative tier.

There is also the STRD (“Stride”) instrument, which matches the 10% yield of STRF but removes the safety net. It is non-cumulative and non-convertible.

If Strategy skips a payment, the investor has no recourse, giving STRD the sharpest risk-reward profile among the fixed-rate options. It has $1.4 billion remaining.

Meanwhile, the company has even opened a European front. Last November, Strategy introduced the Series A Perpetual Stream Preferred (STRE), a euro-denominated security that carries a 10% annual dividend paid quarterly.

This instrument carries sharp teeth regarding non-payment. The dividend is cumulative and increases by 100 basis points per missed period, up to a maximum of 18%.

Institutional investors turn to Strategy's preferred

Strategy's financial engineering product list has successfully courted a demographic that typically shuns crypto: the income tourist.

Data from several institutional filings show that high-income and preferred-focused funds are populating the STRC holders list. The roster includes the Fidelity Capital & Income Fund (FAGIX), Fidelity Advisor Floating Rate High Income (FFRAX), and the Virtus InfraCap U.S. Preferred Stock ETF (PFFA).

Meanwhile, the most striking validation comes from BlackRock. The BlackRock iShares Preferred and Income Securities ETF (PFF) is a massive fund that tracks an index usually dominated by sleepy bank and utility preferreds.

As of Jan. 16, the fund held $14.25 billion in net assets. Inside that conservative portfolio, Strategy’s Bitcoin-linked paper has established a beachhead.

The ETF disclosed a position of approximately $210 million in Strategy’s STRC. It holds another ~$260 million across STRF, STRK, and STRD. In total, BlackRock’s ETF exposure to Strategy preferreds sits at roughly $470 million (or 3.3% of the total fund).

Valentin Kosanovic, a deputy director at Capital B, views this as a watershed moment for digital credit.

According to him:

“This is another clear, factual, unquestionable demonstration of the materialization of the wave of institutionalized legacy BTC-pegged financial products.”

Risks?

The machinery required to sustain these dividends creates a unique set of risks. Strategy is not paying these yields from operating profits in the traditional sense. It is funding them through the capital markets.

The company’s prospectus for STRC states that cash dividends are expected to be funded primarily through additional capital raising, including at-the-market stock offerings.

This creates a circular dependency: Strategy sells securities to buy Bitcoin and then pays dividends on those securities.

Considering this, Michael Fanelli, a partner at RSM US, highlighted several risks associated with this model, including Bitcoin price crashes, the lack of insurance coverage, and the fact that the products are unproven in recessions. He also noted that the perpetual products have no maturity date.

However, Bitcoin analyst Adam Livingston countered that the products are a “mind-bender” for traditional analysts. He argued that “STRC is quietly turning Strategy into a private central bank for the yield-starved world.”

According to him:

“STRC is a coupon-bearing ‘credit rail’ that can absorb fixed-income demand, convert it into BTC at scale, then feed the equity premium that makes the next raise easier, cheaper, and faster. That is a flywheel with a bid inside it.”

The post Strategy just crossed 700k BTC but its “circular” Bitcoin funding loop risks a massive high-yield credit disaster appeared first on CryptoSlate.

Asset manager Grayscale is seeking regulatory approval to convert its Grayscale Near Trust into a spot exchange-traded fund (ETF).

The firm filed a Form S-1 registration statement with the US Securities and Exchange Commission on January 20, marking a move to expand its crypto ETF product lineup.

Grayscale Moves to Convert Near Trust Into ETF With New SEC Filing

For context, the Grayscale Near Trust currently manages about $900,000 in assets and has a net asset value of $2.19 per share. The product trades on the OTCQB market under the ticker GSNR.

Under the proposed conversion, the ETF would be listed on NYSE Arca. According to the filing,

“The Shares are currently quoted on OTCQB under the ticker symbol ‘GSNR’ and following the effectiveness of the registration statement of which this prospectus forms a part, the Trust intends to list the Shares on NYSE Arca, Inc. (“NYSE Arca”) under the symbol ‘GSNR.'”

Furthermore, Grayscale named Coinbase Custody Trust Company as custodian for the NEAR holdings. Meanwhile, Coinbase would act as the prime broker. The Bank of New York Mellon would serve as administrator and transfer agent.

The filing states that the ETF is designed to offer investors a straightforward and efficient way to access NEAR through a regulated investment vehicle. Grayscale noted that the fund would not employ leverage, derivatives, or other similar financial instruments as part of its investment strategy.

The asset manager now joins Bitwise, which also filed a Form S-1 for a Near ETF in May 2025. The latest filing reflects Grayscale’s ongoing strategic expansion within the crypto ETF market.

In 2025, the company converted several products into ETFs, including its Digital Large Cap Fund, Chainlink Trust, and XRP Trust. Grayscale now offers 9 live ETFs.

Moreover, earlier this month, Grayscale formed new Delaware statutory trusts for proposed BNB and Hyperliquid ETFs. These Delaware trust registrations are early steps before submitting full SEC ETF applications. In addition, Grayscale is seeking approval for ETFs on Hedera, Avalanche, and Bittensor.

Nevertheless, the announcement failed to generate any immediate upside for NEAR’s price. BeInCrypto Markets data shows that the altcoin declined 1.76% over the past 24 hours, broadly mirroring the wider market downturn. At the time of writing, NEAR was trading at $1.54.

NEAR’s losses are more pronounced on a weekly basis. Over the past seven days, the token has shed approximately 14.3% of its value, reflecting sustained selling pressure and cautious investor sentiment amid ongoing macro and geopolitical uncertainty.

The post Grayscale’s Near ETF Plan Progresses While Token Faces Selling Pressure appeared first on BeInCrypto.

While the cryptocurrency market remains gripped by fear due to global volatility, Axie Infinity (AXS) has unexpectedly emerged as a bright spot. The AXS token rebounded sharply, climbing above $2.4 and erasing all losses from last year’s October sell-off.

The key question is whether this rally can sustain itself. Multi-dimensional data offers a more objective view for investors.

What Is Driving Axie Infinity’s (AXS) Rally in January?

Latest data from BeInCrypto Price shows that AXS has surged more than 200% since the start of the year. Daily trading volume has exceeded $1 billion.

The rally began after the project’s founder announced a plan to transition AXS rewards in Axie Infinity into an app-token version of AXS, known as bAXS. Players can use bAXS within Axie Core and stake it to receive additional benefits.

Surprisingly, the AXS rally did not end quickly. It extended for another week, despite a broader market correction during the same period.

Data from CoinGecko highlights another important driver. South Korean traders are playing a major role in providing liquidity. Their enthusiasm pushed AXS above the $2.4 level.

Of the more than $1 billion in daily trading volume, Upbit alone accounted for over $320 million, or more than 32%. Prices on Upbit also traded at a premium compared to Binance and other exchanges. This suggests that South Korean traders are willing to pay higher prices, driven by expectations of further upside.

In addition, a recent BeInCrypto report points to renewed interest in GameFi projects. Investors appear to be revisiting the past and reallocating capital into GameFi tokens that were once considered forgotten.

“Nostalgia is the most powerful emotion in the universe. There’s no other IP in crypto that can make people feel both nostalgic for the past and excited for the future. That’s the zone of genius where Axie lives.” — Jihoz.ron, Co-founder of Axie Infinity, said.

Warning Signals That Could Threaten the AXS Rally

AXS’s rally against the broader market trend has raised skepticism among some analysts. In crypto markets, internal enthusiasm can sometimes overpower external fear.

However, behind the impressive price surge lie concerning on-chain signals. AXS balances on exchanges have increased alongside the price. This indicates that more tokens are becoming available, potentially creating selling pressure.

A recent BeInCrypto report also shows that the seven-day average transaction count for deposits has reached its highest level in three years. On-chain data reveals that several large-balance wallets have recently transferred AXS to Binance.

As long as buying pressure remains strong, these inflows can be absorbed quickly. Once demand weakens, the trend could reverse.

Another factor worth considering is the lack of growth in new players on the Ronin network, Axie Infinity’s core platform.

Dune Analytics data for Ronin shows that weekly new active addresses remain below 10,000. This figure has fallen sharply from more than 500,000 in 2024 and shows no clear signs of recovery.

The absence of meaningful user base expansion reflects saturation in the play-to-earn model. This model once attracted millions of players during the pandemic. Without a fresh inflow of users, AXS’s recovery could face structural challenges.

In addition, open interest in AXS futures contracts has exceeded $130 million, the highest level in three years. This surge highlights elevated speculative activity, with investors using leverage to bet on price movements.

High open interest often implies elevated liquidation risk, especially in volatile market conditions. This environment increases the likelihood of cascading liquidations, which could send AXS prices sharply lower.

How long the AXS rally can last depends on whether positive catalysts can outweigh the warning signals highlighted above. Trading in the current environment requires careful balancing of multiple factors to mitigate risk, as the market continues to face unexpected and heightened volatility.

The post Axie Infinity Revives Amid Market Fear, but Multiple Data Points Raise Warnings appeared first on BeInCrypto.

Trove Markets’ new token collapsed almost immediately after trading began, wiping out the vast majority of early gains and leaving many backers angry and confused. The drop was brutal. Traders who bought early watched their holdings shrink by about 95% in a matter of hours.

Token Price Plunges After Launch

Initial prices implied a market value near $20 million. Based on reports, the token fell to roughly $0.0008 per unit, trimming the market cap to below $1–2 million.

Some wallets unloaded huge chunks of coins right after the token generation event. That selling pressure coincided with a flood of posts on social platforms calling the launch a rug pull.

Trove Had Raised Millions Before The Fall

According to reports, the project raised roughly $11.5 million in its public sale. The Trove team announced it would keep about $9.4 million to fund further work and pay for a switch of blockchains.

Refunds totaling about $2.44 million were returned to some investors, and another $100,000 was earmarked for additional reimbursements. The numbers left many buyers feeling shortchanged and asking why a large share of the money stayed with the team.

On-chain analysts and tracing tools flagged unusual transfers tied to a handful of new accounts. Reports note that a meaningful slice of the token supply moved into one cluster of wallets, and some transfers were routed through services like ChangeHero.

That activity raised questions about whether all token allocations were handled openly. Legal calls and demands for public audits followed soon after.

Investors reacted quickly. Some demanded full refunds. Others threatened legal steps. Community moderators and influencers amplified complaints and demanded clear timelines for fixes.

We’re pivoting Trove to Solana.

After recent sentiment around Trove, the liquidity partner that had been supporting our Hyperliquid path chose to unwind their 500k $HYPE position. That was their decision and we fully respect it.

This changes our constraints: we’re no longer…

— unwise (@unwisecap) January 18, 2026

Trove posted updates, saying a partner had pulled out and that the pivot to Solana was necessary to keep the project alive.

The team promised to continue building and to be more open about their choices, while pledging to deliver a working platform that might justify holding the funds.

https://t.co/sc8b59sjYE

— TROVE (@TroveMarkets) January 19, 2026

What happens next will matter more than the words now being exchanged. If the team can show tangible progress on the exchange and create real trading depth, some anger may fade.

If not, the episode could be used as a warning: token sales that change terms late in the process can trigger swift market punishment and reputational damage. Regulatory scrutiny could also increase if large sums are held after a collapse like this.

Featured image from Unsplash, chart from TradingView

On-chain data shows the largest of Chainlink whales have been accumulating recently even as the cryptocurrency’s price has slipped below $13.00.

Top 100 Chainlink Whales Have Been Expanding Their Supply

In a new post on X, on-chain analytics firm Santiment has talked about the latest trend in the holdings of the 100 largest addresses present on the Chainlink network.

This category of holders naturally includes the large whales, investors who carry sums significant enough to have some influence on the blockchain. As such, their combined supply can be worth keeping an eye on.

Below is the chart shared by Santiment that shows the trend in the supply of the 100 largest Chainlink addresses over the last few months.

As displayed in the graph, the Chainlink supply held by the top 100 addresses went up in November as the cryptocurrency’s price plummeted, a possible sign that big-money investors were loading up.

These whales shed some of their holdings in December and the first week of January, but recently, they have showed signs of renewed accumulation as LINK’s price has plunged below the $13.00 level. Compared to the start of November, the cohort’s holdings are up 16.1 million tokens.

“As retail sells off due to impatience & FUD, it’s common to see smart money gather up more $LINK to prepare for (or cause) the next pump,” explained the analytics firm. It now remains to be seen whether this accumulation will have any effect on the cryptocurrency.

Chainlink isn’t the only asset that has seen movements from large investors recently. As Santiment has highlighted in another X post, Bitcoin sharks and whales have participated in net buying over the last nine days.

In the context of BTC, sharks and whales are defined as investors holding between 10 to 10,000 tokens. Below is a chart that shows how the supply of these investors has changed since late July.

As is visible in the graph, the Bitcoin sharks and whales have increased their combined supply by 36,322 BTC in the last nine days, equivalent to an increase of 0.27%. Interestingly, the large investors have held on despite the fact that the asset’s price has gone through a retrace over the past few days.

However, the same hasn’t been true for the opposite end of the market, the retail entities. These investors, corresponding to addresses holding less than 0.01 BTC, have shed 132 BTC (0.28%) in the same window.

LINK Price

At the time of writing, Chainlink is floating around $12.33, down more than 10% in the last seven days.