Singapore's largest money laundering case suspect Wang Shuiming may be extradited to China, with his accomplice being the mastermind behind the Hong Kong crypto platform scam AAX.

Jan. 17 (BlockBeats) — Per Coinglass data, Ethereum (ETH) has two key liquidation triggers at critical price levels: - If ETH falls below $3,200, cumulative long liquidation intensity across major centralized exchanges (CEXs) will hit $920 million. - Conversely, if ETH breaks above $3,400, cumulative short liquidation intensity at these same CEXs will reach $985 million. **BlockBeats Note**: Liquidation charts do not show the exact number or value of contracts pending or under liquidation. Instead, the bars on these charts indicate the *relative importance* of each liquidation cluster compared to nearby clusters—i.e., "intensity." In short, the chart reflects how impactful reaching a specific price level will be: Taller liquidation bars signal a more severe reaction (from a liquidity cascade) once that price is hit.

January 17th: As stablecoins gain traction in cross-border payments, the roughly $900 billion global remittance market is poised for disruption. Industry insiders note that blockchain-powered stablecoins can slash cross-border transfer costs and speed up transactions—potentially upending the traditional remittance system led by Western Union. World Bank data shows current average cross-border remittance fees still exceed 6%, a heavy burden for low-income groups sending money to developing nations. Experts say stablecoins enable peer-to-peer transfers via digital wallets, with costs and friction far lower than traditional channels. On the regulatory front, U.S. President Trump signed the GENIUS Act in July to establish a federal stablecoin framework, paving the way for their entry into mainstream finance. Since then, traditional players like Western Union and PayPal have launched stablecoin-related products. Analysts note traditional remittance firms hold an edge in large-scale

January 17: Galaxy Digital Head of Research Alex Thorn stated that the scheduled Senate Banking Committee hearing on crypto market structure legislation has been postponed, citing deep-seated divisions between Congress and the industry on key issues—most notably stablecoin yield mechanisms and DeFi-related provisions. The delay came hours after Coinbase CEO Brian Armstrong withdrew his support for the bill, publicly pushing back against its language on tokenized securities, DeFi restrictions, and stablecoin yields. Senate Banking Committee Chairman Tim Scott announced the postponement but has not shared a new schedule. Given the Senate’s recess next week, the earliest the hearing could resume is between January 26 and 30. Thorn noted that over just 48 hours: the draft bill dropped late at night, more than 100 amendments were filed, stakeholders uncovered new points of contention right up to the last minute, and political coordination grew far more challenging. On the market fr

On January 17, trader Eugene Ng Ah Sio shared an update in his personal channel, saying: “I’ve closed out most of my altcoin long positions — they didn’t hit the extra returns I was targeting, so I’m locking in what’s available now. My core Bitcoin long position is still open, but I’m mostly in cash again, waiting for the next chance to deploy capital.”

On January 17, Coinglass data shows total net BTC outflow from centralized exchanges (CEXs) hit 347.51 BTC over the past 24 hours. Top three CEXs by BTC outflow: - Kraken: 1,623.52 BTC outflow - Bitfinex: 182.60 BTC outflow - KuCoin: 38.78 BTC outflow Additionally, Binance led inflows with 573.18 BTC.

On January 17th, Tom Lee—BitMine Chairman and Fundstrat Co-Founder—told the firm’s latest shareholder meeting that Ethereum is central to the next wave of financial infrastructure evolution, with 2026 likely marking a critical year for its full-scale breakout. Lee noted Ethereum hit an all-time high against BTC in 2021, and that ratio is poised to exceed its prior peak by 2026 amid accelerating real-world asset tokenization and mainstream adoption by financial institutions and users. Standard Chartered also labels 2026 the “Year of Ethereum,” projecting ETH to reach $12,000. BitMine’s business model stands to gain directly from rising ETH prices: historical correlation analysis suggests the firm’s (BMNR) stock could theoretically hit ~$500 if ETH reaches $12,000. Moreover, BitMine benefits from ETH staking rewards and robust cash reserves. It currently holds ~4.2 million ETH and ~$1 billion in cash, with projected pre-tax income of $402M–$433M under current conditions. If ETH