MANTRA DAO Initiates Survey Vote to Solicit Feedback on Team Token Burn Execution

Jan. 16 (CoinDesk) — BitMine Chairman Tom Lee told shareholders at a Thursday meeting that the world’s largest Ethereum treasury firm expects its $13 billion Ethereum holdings to generate more than $400 million in annual pre-tax revenue, with the bulk coming from staking those assets. Lee noted BitMine likely saved roughly $400 million on its Ethereum purchases over the past few months. Even with those savings, however, the firm’s holdings acquired since last July are still sitting on an unrealized loss of about $2.3 billion. In a Thursday-morning disclosure, BitMine revealed it had invested $200 million in Beast Industries, the company owned by viral YouTuber MrBeast. Lee called the move “clearly a wise choice” and predicted it will easily deliver a 10x return—a “quantum leap” in gains. Additionally, Lee said BitMine plans to launch a mobile app (details are limited for now) and will make a significant investment in the tokenization space.

Jan. 16 — Coinbase CEO Brian Armstrong met with Capitol Hill lawmakers this week to protect the company’s ability to keep offering rewards to users holding stablecoins on its platform, per Bloomberg. Armstrong noted banking lobbies are pushing for legislation to cap stablecoin rewards, warning such limits would undercut the crypto industry’s ability to compete with banks for customer funds. He argued Americans deserve the right to earn higher yields on their money, while banks fear they’d be forced to raise deposit rates to match. Previously, Armstrong pushed back against a draft digital asset market structure bill slated for Senate committee review — leading committee chair Tim Scott to delay action on the measure. The initial compromise draft banned deposit yield payments but permitted other transaction-related rewards. However, senators are set to vote on an amendment that would fully ban stablecoin rewards, with the outcome still up in the air.

On January 16, Michael Saylor posted: "Digital credit is the refinement of digital capital—stripping away risk, curbing volatility, compressing maturity, facilitating currency conversion, and unlocking yield."

Onchain Lens monitoring data shows that as of January 16, BlackRock has withdrawn 6,647 BTC (valued at approximately $6.3809 billion) and 4,179 ETH (valued at ~$13.76 million) from Coinbase over the past 8 hours. Over the past two days, the asset manager has withdrawn a total of 9,346 BTC (valued at roughly $9.0023 billion) from the exchange.

On January 16, Cookie DAO—an AI agent index platform—announced that InfoFi is undergoing changes, and it’s time to gradually take Snaps offline: shut down the Snaps platform and all ongoing creator initiatives, while preserving the integrity of Cookie’s data layer and product ecosystem. Following discussions with X’s team regarding its API and usage policies, the platform decided to immediately shut down Snaps and all associated ongoing efforts. It is currently in active talks with X to evaluate whether Snaps might relaunch in a new format. “We’ve consistently maintained compliance with X’s applicable rules and policies. That said, InfoFi appears poised for a major overhaul. We are awaiting further confirmation and guidance from X to see if creator initiatives like Snaps could resume in some capacity going forward.” “Snaps leaderboard data is sourced from an official data provider, and we remain a Twitter Enterprise API customer. Compliance with X’s policies has always been our t

January 16 — Per official sources, Coinbase is set to list Sport.fun (FUN1). The FUN1-USD trading pair will go live later today in supported regions if liquidity conditions are met.