Rainbow will take a snapshot on January 26, with the official airdrop on February 5.

January 21 Treasury Secretary Benson said the market downturn is primarily driven by two days of six-standard-deviation abnormal volatility in Japan’s bond market, as reflected in its 10-year government bonds. He noted he has communicated with Japan’s Minister of Economy and urged the country to take necessary measures to stabilize its bond market. The volatility is spreading to global bond markets, with German, French and U.S. bond yields all rising. Benson repeated that the issue stems from Japan’s bond market and has no connection to Greenland.

On January 21, per monitoring from HyperInsight (Telegram: https://t.me/HyperInsight), the "Lightning Reversal" whale closed out its short Ethereum (ETH) position today, locking in a $1.312 million profit. The whale then added to its long Bitcoin (BTC) position, now holding a 20x-leveraged long of 754.92 BTC (roughly $67.27 million). Its average entry price is $89,848.3, with an unrealized loss of $565,000.

Jan 21: A newly created wallet labeled 0xFFE withdrew 41.87 million ONDO (≈$14.34 million) from Coinbase 20 hours ago, per monitoring by The Data Nerd.

On January 21st, on-chain analyst Ai Auntie (@ai_9684xtpa) noted that over the past 8 hours of ETH’s pullback, whale address 0xFB7…5e0A3 opened a 20,000 ETH long position via Wintermute and FalxonX—valued at $59.4 million, with an average entry price of ~$2970. Just two days prior, the same address took profits at a higher level, netting $1.51 million. To date, this whale has amassed $98.18 million in total profits from ETH swing trades.

On January 21, Galaxy Digital CEO Mike Novogratz took to social media to note that the yield mechanism issue in the stablecoin bill is highly contentious and could easily derail the entire legislation—once again, politics are taking precedence over sound policy. Banking institutions are pushing back against crypto platforms offering yield rewards to users (even though the GENIUS Bill explicitly permits this practice). If the bill fails to pass, their real fear is likely the disruption of the current market landscape. Should this issue lead to the shelving of the market structure bill, accountability will extend broadly—but primary responsibility will undoubtedly fall on the banking industry and the Republican and Democratic senators who back them. The biggest loser? American consumers. Here’s hoping reason prevails in the end. **BlockBeats Note**: Whether stablecoins can offer yield to holders is the most divisive point between the traditional banking sector and the crypto ind

Jan. 21 — Per monitoring from HyperInsight (https://t.me/HyperInsight), Bitcoin fell below $88,000 this morning, leaving the leveraged whale address “pension-usdt.eth” with a $6.54 million floating loss on its 3x leveraged BTC long position. The whale holds 1,000 BTC (valued at ~$91.53 million) in the position, with an average entry price of $95,614.50. On Jan. 16, “pension-usdt.eth” took profits to close its ETH long position and immediately opened the BTC long position afterward.