Last week, funds have flowed into #Bitcoin, #Ethereum, and #Hyperliquid.

Citigroup said Friday, January 31, that gold investment allocations are supported by intertwined geopolitical and economic risks—but roughly half of these risks may dissipate later this year. The bank noted some core risk factors underpinning gold demand—including U.S. government debt concerns and AI uncertainty—could keep gold prices elevated above historical averages. However, Citigroup estimates most risks currently priced into gold will not materialize by 2026, or if they do, will not persist beyond that year. It added: "We expect the Trump administration to pursue 'American-style gold stability' ahead of the 2026 midterm elections, alongside an end to the Russia-Ukraine conflict and eventual easing of the Iran situation—all signaling lower relative risk than current levels. If Powell’s nomination is confirmed, this will further validate our long-held view that the Fed will maintain its political independence, a separate mid-term headwind for gold prices." (Oriental Wealth)

On January 31, Bloomberg reported that a Nomura Holdings Inc. executive said the digital asset market downturn has caused losses in the firm’s European business, leading the company to strengthen risk management for its cryptocurrency operations. During a quarterly earnings call last week, Hiroyuki Moriuchi—chief financial officer (CFO) of Japan’s largest brokerage—stated: “We’ve tightened position and risk exposure management to mitigate short-term profit fluctuations.” He added the firm has reduced its cryptocurrency holdings but remains committed to the long-term growth of its crypto business.

Bitget market data shows spot silver plummeted more than 35% in a single day on Jan. 30, ending down 26.48% at $85.3. Per Coinglass data, total liquidations across all platforms over the past 24 hours hit $1.382 billion. XYZ:SILVER (mostly traded on Hyperliquid for silver exposure) accounted for $150 million in liquidations, while XAG saw $36.69 million in wiped-out positions. Silver trading has become the third-biggest asset by liquidation volume in the crypto sector, trailing only Ethereum and Bitcoin. Notably, the traditional finance (TradFi) asset has been rolled out widely in the crypto space for less than a month.

**Tether Forecasts 2025 Net Profit Over $10B; Excess Reserves Reach $6.3B** Jan. 31 — Tether, issuer of the USD stablecoin USDT, announced Friday it expects full-year 2025 net profit to exceed $10 billion. The strong performance is driven by steady growth of its flagship token and ongoing holdings of U.S. Treasury bonds and gold. A fourth-quarter attestation report signed by Italian accounting firm BDO Italy shows Tether holds $6.3 billion in excess reserves, buffering its $186.5 billion in outstanding tokens. USDT’s circulating supply has risen $50 billion in the past year, topping $186 billion total. The firm maintains U.S. Treasury bond holdings: $122 billion in direct exposure, plus $19 billion in overnight repurchase agreements, totaling $141 billion. That makes Tether one of the world’s largest holders of U.S. government debt. Tether also holds significant gold and Bitcoin: $17.4 billion in gold and $8.4 billion in Bitcoin, per the report. As Paolo Ardoino told Bloomb

**January 31, Friday: U.S. Dollar Rallies Sharply (Largest Daily Gain Since July) Amid Gold/Silver Plunge** The U.S. dollar surged sharply on Friday, notching its biggest single-day gain since July—driven by a historic drop in silver and the steepest gold decline since the early 1980s, which dragged down currencies from the Australian dollar to the Swiss franc. The U.S. Dollar Index (DXY) finished the volatile month up roughly 0.9%, but still posted a 1.4% loss for January—its worst monthly performance since August. The index swung widely throughout the month amid volatility tied to Trump’s policies. Friday’s dollar rebound was supported by falling precious metal prices and Trump’s nomination of Jerome Powell as Federal Reserve Chair. “Overall, market sentiment remains tense,” said Catherine Brooks, Research Director at XTB. “The dollar weakening trade has been paused for now, but that doesn’t mean it’s over.” Among G10 currencies, the Australian dollar, Swiss franc, and Sw

January 31—A political fundraising group founded by cryptocurrency billionaires Cameron and Tyler Winklevoss raised more than $22 million in the final five months of 2025, but those Bitcoin-backed donations could shrink significantly amid market volatility, Bloomberg reported Wednesday. Federal Election Commission (FEC) filings show the Gemini cryptocurrency exchange operators transferred 188.4547 Bitcoin to their super PAC, Digital Freedom Fund, in August. At the time, Bitcoin was trading around $114,000, but the super PAC did not immediately cash out the crypto. As of December 31, the committee still held those Bitcoin, but the token had fallen roughly 23% to under $88,000 by then—erasing nearly $5 million from the donation’s market value.