BlackRock withdrew 3,948 BTC and 1,737 ETH from Coinbase

January 8th: Kalshi CEO Tarek Mansour announced on LinkedIn that he backs legislation from New York Democratic Rep. Ritchie Torres aimed at barring government officials from insider trading on platforms including Kalshi. Mansour additionally noted that recent insider trading cases have primarily involved unregulated offshore platforms. Separately, Torres intends to introduce the *2026 Financial Forecast Market Public Integrity Act* this week. The bill would prohibit federally elected officials, political appointees, and executive branch employees from trading on prediction markets if they possess or can access non-public trading-related information via their official roles.

Jan. 8: The U.S. published its December ADP Employment Report overnight, showing a modest recovery in the labor market. As a result, odds of a January Fed rate cut (per CME’s FedWatch Tool) fell to 11.1% from 17.7% the prior day. On Polymarket, odds of the same January rate cut also dropped to 8% from 10% yesterday.

On January 8, Flare launched the first XRP spot market on Hyperledger, listing FXRP and opening the FXRP/USDC trading pair to enable XRP spot trading on the network’s order book. FXRP is built on Flare’s FAssets system and issued per the LayerZero cross-chain standard, allowing it to bridge back to the XRP Ledger after trading on Hyperledger. Flare noted the move maintains decentralized custody, positions the XRP Ledger as the ultimate settlement layer, expands XRP’s utility in decentralized finance (DeFi), and provides XRP holders with deeper on-chain spot liquidity. (CoinDesk)

On January 8, Glassnode released its weekly market observations report, noting that a large share of legacy positions across Bitcoin’s spot, futures, and options markets have been cleared as the crypto enters the new year. The late-2025 deleveraging event and year-end expiry cycle effectively reset the market’s structural constraints, creating a clearer, more transparent signal environment. Early signs of market reinvigoration are already emerging: ETF fund flows are stabilizing, futures market participation is rebounding, the options market is leaning notably bullish, skewness is normalizing, volatility has hit a bottom, and traders’ gamma positions have turned bearish near key upside strike levels. Collectively, these trends signal the market is shifting from a defensive, distribution-focused pattern to selectively taking on risk and rebuilding participation. Though structural buildup remains relatively mild, the clearance of overextended positions and renewed upside potential

On January 8th, Bitget market data indicates precious metals all declined overnight. Silver and platinum led the drops among precious metals: spot silver fell 3.82%, spot platinum dropped nearly 8% at one point, and gold posted an intraday decline of over 1%.

On January 8th, Onchain Lens monitoring data indicates that a Bitcoin whale with a 20x long position (address: 0xfb7) liquidated its position half an hour ago, suffering a loss of $3.77 million.