Trump Says He Has Chosen Next Fed Chair, BlackRock Executive a ‘Dark Horse’
**Jan. 23 (Reuters) — Former President Donald Trump said Wednesday he’s finished interviewing candidates for the next Federal Reserve chair, hinting the pick is a “highly respected, extremely well-known” heavyweight set to replace current Chair Jerome Powell when his term expires in May.
Trump noted he’s “almost down to one person” for the role but didn’t name the finalist. Publicly known contenders include National Economic Council Director Kevin Hassett, BlackRock Fixed Income chief Rick Rieder, current Fed Governor Christopher Waller, and ex-Governor Kevin Warsh. Trump has hinted Hassett is more likely to stay in the White House than take the Fed post.
Notably, Trump’s recent public praise of Rieder as “impressive” has boosted his nomination odds sharply. Prediction market Kalshi shows Rieder’s probability has climbed to 33% — double his level earlier this week and up from just 3% 10 days ago. Former Fed Governor Warsh still leads with 45% odds, though his lead has shrunk.
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BitGo IPO Soars 20% on First Day, Intraday Market Cap Hits Over $2.6 Billion
**January 23 — BitGo, the cryptocurrency custody and infrastructure firm (ticker: BTGO), debuted on the New York Stock Exchange (NYSE) today, with its first-day trading price jumping roughly 20% from its $18 IPO price. The stock hit an intraday market cap peak of $2.6 billion.**
**The IPO included 11.8 million shares, priced above BitGo’s original $15–17 range. It raised approximately $213 million for the company and select shareholders, with a valuation exceeding $20 billion. The strong debut is seen as a positive signal for a potential active IPO cycle in 2026.**
**Founded in 2013, BitGo was among the earliest crypto firms to launch a multi-signature digital wallet. It has since expanded into digital asset custody, trading, and digital banking services, serving both institutional and retail clients.**
**Per recent SEC filings: BitGo posted $35 million in profit and $10 billion in revenue for the first three quarters of 2025. It turned its first full-year profit in 2024, with
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「Gold-Friendly Whale」's Unrealized Gain on Long Gold Position Surpasses $470,000, Tokenized Gold Contract Position Nearing $5 Million
On January 23, monitoring from HyperInsight (via https://t.me/HyperInsight) shows a whale address labeled "Heavy Long Position in Precious Metals" holds an unrealized profit of over $470,000, with the following breakdown:
- $340,000 in gains from a 10x long position on PAXG;
- $55,000 in gains from a 10x long position on xyz:GOLD;
- $72,000 in gains from a 5x long position on xyz:SILVER.
The address’s tokenized gold contract position has expanded to $4.96 million.
Whale Address: 0x271ce82149c67fae0d2a39571707f382fe425014
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Gold-Backed Token Sector Hits $5.12 Billion Market Cap, XAUT and PAXG Break Into Top Sixty Cryptocurrencies
On January 23, spot gold’s ongoing rally has lifted the entire tokenized gold sector sharply higher.
The sector’s total market capitalization now stands at $51.2 billion, up over 4% in the past 24 hours. Key tokens in the space include:
- XAUT: Market cap at $25.79 billion (currently ranked 50th on the cryptocurrency market cap list)
- PAXG: Market cap at $19.89 billion (ranked 57th)
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WLFI has entered into a strategic partnership with Spacecoin, announcing a token swap to establish a presence in the "DeFi × Space Internet" space.
January 23rd — The Trump family’s World Liberty Financial (WLFI) announced a strategic partnership with Spacecoin, a decentralized satellite network project. The pair will build long-term collaboration via token swaps to explore integrating decentralized finance (DeFi) with satellite internet infrastructure applications.
This partnership aims to develop new solutions for payments, clearing, and on-chain coordination — particularly for regions with limited traditional financial infrastructure. Zak Folkman, WLFI co-founder, noted Spacecoin addresses critical real-world infrastructure gaps, and its $1 peg is tailored to serve real-world payment and settlement use cases. The two parties are highly aligned on long-term utility and execution, he added.
Spacecoin revealed it has successfully launched three satellites into low Earth orbit, marking the project’s three-year journey from concept to operational space infrastructure. Tae Oh, Spacecoin founder, stated true digital freedom requires
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