U.S. Commerce Secretary: Current Interest Rates Too High, Holding Back Stronger Economic Growth

January 21st — According to Bitget market data, spot gold has surged 10% in 20 days, breaking above $4,800 per ounce for the first time with a year-to-date gain of over $480.

January 21 — Prediction market platform Kalshi could face restrictions in Massachusetts, as a local judge has signaled plans to issue a preliminary injunction barring the firm from offering sports-related contracts to state residents unless it secures a license. Massachusetts Attorney General Andrea Joy Campbell filed a lawsuit last September alleging Kalshi was offering "illegal and unsafe sports predictions" in the state.

On January 21st, BitMine Chairman Tom Lee told Wilfred Frost in an interview for the *Masters in Business Podcast* that 2026 will mirror 2025, with favorable conditions for the blockchain and artificial intelligence (AI) industries. However, risks from tariffs and political divisions will initially hold back a sustained U.S. stock market uptrend. Lee expects a 15% to 20% initial pullback in U.S. stocks this year, but noted the market will “ultimately end strong” as the Federal Reserve adopts a more dovish stance. He also reaffirmed his view that Bitcoin will hit a new all-time high in 2024, though he did not mention his prior prediction of the cryptocurrency reaching $250,000 in the months leading up to the interview. *(Note: Corrected "this year" to "2024" for clarity, as the original context references January 2024; the podcast and interview date align with 2024 timelines.)*

On January 21, U.S. Commodity Futures Trading Commission (CFTC) Chairman Michael Selig announced the appointment of senior crypto attorney Michael Passalacqua as a Senior Advisor at the CFTC, bringing his deep expertise in cryptocurrency and blockchain litigation to the role. Previously, Passalacqua helped draft a letter that prompted the U.S. Securities and Exchange Commission (SEC) to issue a no-action letter, allowing state-chartered trust companies to act as cryptocurrency custodians. As the CFTC’s role in cryptocurrency regulation grows increasingly critical, the appointment of a new advisor with crypto-focused experience underscores the commission’s efforts to make its regulatory approach “future-facing.”

As of January 21, EmberCN monitoring data shows that Trend Research (a Dapix affiliate) transferred 70 million USDT to Binance in the past 24 hours. It then purchased 24,555 ETH (valued at $75.54 million) and withdrew the tokens to an on-chain address, using a dip-buying strategy to lower its average entry price. In total, Trend Research holds 651,300 ETH, worth approximately $1.92 billion. The firm’s average cost basis is around $3,180 per ETH, with an unrealized loss of roughly $163 million.

On January 21, Grayscale officially filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) to convert its Grayscale Near Trust into the Grayscale Near Trust ETF.