hodler

23 Jan 2026, 15:00

‘Debasement trade still on,’ says hedge fund exec as Bitcoin lags gold

Some analysts believe quantum risk may derail BTC from the 'debasement trade.'

23 Jan 2026, 14:59

UBS explores crypto trading access for high-net-worth clients

UBS Group AG, a $6.9 trillion asset manager, plans to make crypto investing available for some private banking clients. According to reports , the Swiss banking giant is in the process of selecting partners for a crypto offering. Discussions have been ongoing for several months; however, UBS hasn’t made a final decision on how to proceed. High-net-worth individuals to access spot Bitcoin/Ethereum and derivatives The initiative would represent an expansion beyond UBS’s existing blockchain initiatives. In November 2024, the bank launched UBS Digital Cash, a private blockchain pilot for multi-currency cross-border payments. On Tuesday, the UBS CEO said that the next phase of global banking is centered on Bitcoin and other digital assets at its core. Therefore, high-net-worth individuals could access spot Bitcoin and Ethereum, as well as derivatives, with potential rollout to Asia-Pacific and the US. This report comes a day after Sergio Ermotti, CEO of UBS, stated that blockchain’s convergence with traditional banking is inevitable. According to him, it is a great way for companies to become more efficient and reduce costs. However, UBS has previously described crypto as a limited segment of digital assets and refrained from direct offerings amid regulatory uncertainty. As reported by Cryptopolitan, Ermotti stated that the financial industry will continue to face pressure on gross margins without blockchain technology. He urged financial institutions to remain relevant by maintaining strong capital, products, personnel quality, and client advice. This move follows the UBS Tokenize pilot with Chainlink and Swift for tokenized funds and digital cash solutions. The blockchain data provider noted that the first use case involved a technical and operational pilot with UBS Tokenize, building on prior work with the Monetary Authority of Singapore. Meanwhile, several major banks have already entered the space, including Standard Chartered, which offers spot Bitcoin and Ether trading to institutional clients, and JPMorgan and Morgan Stanley, which have enabled crypto trading or access for select client segments. Others, such as Bank of America, allow exposure through approved products, such as Bitcoin ETFs. UBS chief executive Sergio Ermotti plans to step down This move comes as UBS chief executive Sergio Ermotti plans to step down in April 2027. This fires a starting gun on the race for one of the biggest jobs in global banking. However, he stated that he hopes his successor will be a candidate from within the bank. “As previously communicated, I will complete the integration of Credit Suisse and remain CEO until at least the end of 2026 or spring 2027,” Ermotti said. The integration means UBS will cut around 3,000 jobs in Switzerland, Ermotti added, reiterating a figure made public in 2023. However, it is still a crucial time for UBS as it fights Swiss government plans to tighten its capital requirements. This dispute has fuelled speculation that Switzerland’s biggest lender could move its headquarters abroad. UBS blamed regulatory uncertainty stemming from the government’s announcement in April 2024 of an update to its “too big to fail” banking regulatory regime, effective through the end of 2025, for its share-price underperformance relative to other European and US banks. UBS estimates its market valuation lagged peers by 27% over the period, costing its shareholders about 30 billion Swiss francs ($37.48 billion) on top of the around $14 billion in expenses from integrating Credit Suisse. Meanwhile, Iqbal Khan, Bea Martin, Robert Karofsky, and Aleksandar Ivanovic have been named as the possible successors. However, their profiles are grounded in traditional banking, wealth management, and institutional finance, not crypto leadership. Kelleher, who is overseeing the succession, is looking to follow the example of his former employer, Morgan Stanley, which had several internal candidates to choose from when longtime chief James Gorman stepped down in 2023. Kelleher previously described the Wall Street lender’s succession as a “bloodless coup”, which he hoped to emulate. The smartest crypto minds already read our newsletter. Want in? Join them .

23 Jan 2026, 14:51

Bitcoin rolls over as gold gets huge $23K price target by 2034

Bitcoin dropped further below $90,000 while gold and silver kept beating records, leading to a long-term price forecast of $23,000.

23 Jan 2026, 14:40

en swings sharply as traders watch for possible government intervention

Japan’s currency moved sharply on Friday morning before settling back down, prompting questions about whether officials might step in to support the weakening yen. The dollar climbed past the 159.00 mark against the yen after Bank of Japan Governor Ueda gave few clues about plans to help the currency. He talked mainly about working with government officials to keep the bond market stable. But the dollar’s rise didn’t last long. Selling pressure pushed the pair down to 157.33 before it moved back near 158.00, ending the day down 0.3%. Officials stay quiet on intervention speculation Finance Minister Satsuki Katayama told reporters on Frida y sh e was keeping a close eye on currency trading. However, she wouldn’t say anything about the talk in the markets that officials had been calling banks to check on exchange rates. Such calls often precede the government’s decision to buy or sell currency. Katayama spoke at the Finance Ministry after the yen’s sudden jump prompted traders to wonder whether officials were preparing to prop up the currency, which has been losing value lately. Atsushi Mimura, who handles international money matters as vice finance minister, also stayed quiet about the yen’s sharp move. When reporters asked if Tokyo had bought yen to push up its value, he said, “In this situation, I have no intention of commenting on that.” He gave the same answer when asked about the rate check rumors . The officials’ silence stands out because Katayama usually speaks up to try to talk down the dollar-yen rate. Their quiet approach suggests they might be ready to act rather than just talk. When the government actually steps in to buy or sell currency, the price moves are usually much bigger and last longer. This particular move doesn’t look like a full intervention yet. It seems more like the standard calls officials make to banks before they actually step in, as per the report by investing live. Japan did something similar in July 2024 and back in September 2022. Both times, officials made these rate check calls with banks shortly before they moved to buy yen. Central bank holds rates steady On Friday, the Bank of Japan decided to keep interest rates where they are. The central bank also raised its predictions for economic growth and inflation, showing it plans to keep pushing rates higher from their current low levels. The bank kept short-term rates at 0.75% with eight members voting yes and one voting no. Hirofumi Suzuki, who works as chief currency strategist at SMBC in Tokyo, said the decision to hold rates steady made sense. “As expected, the BOJ left monetary policy unchanged. With risk factors such as a slowdown in overseas economies gradually receding, and with the BOJ having just raised rates last month, it is now in a phase of taking time to assess the effects of the hike,” Suzuki explained. He added that Governor Ueda would likely be careful in his comments about currency movements and signal that the bank is ready to work with the government on bond market issues if needed. Suzuki thinks the bank will keep raising rates slowly, maybe once every six months to a year. Tohru Sasaki, chief strategist at Fukuoka Financial Group, pointed to the bank’s focus on inflation. “The focus on inflation looks a little bit hawkish. I think it shows that the BOJ intends to continue to hike the policy rate,” he said. Sasaki noted that core inflation is expected to stay above 2% based on the bank’s forecasts. He thinks that if the dollar-yen rate reaches about 160, that would give the government and central bank a good reason to raise rates in April. If you're reading this, you’re already ahead. Stay there with our newsletter .

23 Jan 2026, 14:12

French crypto firm Ledger seeks $4B U.S. IPO - report

More on Crypto VanEck Mid-January 2026 Bitcoin ChainCheck Whale's Tracking - Reassessment Chart Of The Day: Is Bitcoin... Back? Ray Dalio: Bitcoin is money 'for some' but it's not a reserve asset Bitcoin, other crypto prices drop amid Trump's Greenland threats

23 Jan 2026, 13:50

Revolut cans merger plan for de novo U.S. banking license application

Britain’s Fintech Revolut has canceled plans to merge with a U.S. lender and instead applied for an independent U.S. banking license. The London-headquartered financial services firm held talks with U.S. officials about applying for a license through the Office of the Comptroller of the Currency (OCC) in hopes of accelerating the process. Revolut emphasized the importance of the U.S. market to its global growth strategy, stressing that its long-term plan is to establish a bank in the United States. It also stated that it will continue to actively explore all options, including the U.S. de novo bank license application. Previously, Revolut sought to acquire a nationally chartered U.S. bank, which would have allowed the resulting conglomerate to offer banking services across 50 states. The company hoped the process would be a breeze due to the deregulatory push under President Donald Trump’s administration. At the time, Revolut preferred an acquisition to applying for a banking charter on its own because that would accelerate its U.S. expansion. Revolut concludes that the acquisition could be tricky Apparently, the Revolut team made a U-turn on the acquisition after concluding that a takeover would be tricky if it had to keep bricks-and-mortar branches open. An acquisition would also require the fintech to engage with U.S. regulators, who would need to approve changes to the targeted lender’s ownership. Meanwhile, Revolut believes that the U.S. has a more expansive traditional banking sector and a large number of wealthy consumers that UK-based banks seek to tap into. The decision comes as British fintechs reportedly set their sights on the U.S. as a potential market for growth amid a significant slowdown in consumer growth in the home market. However, applying for a national charter through the OCC can sometimes take years to get approval. On the other hand, the Trump administration has revoked a Biden-era OCC rule that imposed strict oversight of bank mergers. Fintech executives are now saying that they have noticed a change in the OCC’s attitude, and many are pushing their individual companies to apply for the bank charter. Law firm Freshfields’ data reveals that 14 applications were submitted to the OCC for a de novo charter to become a limited-purpose national trust bank, many from fintechs. Revolut seeks a full banking license in Peru Revolut is also looking to compete with some of Latin America’s fintechs, having recently applied for a full banking license in Peru. The license would allow the London-based company to roll out a range of localized services and products, offering Peruvians greater financial control. Meanwhile, Peru is reportedly the fifth country in the region that Revolut has entered. The company has already won approvals in Mexico, Colombia, Brazil, and Argentina. On the other hand, SBS, Peru’s national banking regulator, says that the country has a highly concentrated financial system, with only four of the country’s largest banks accounting for over 82% of the total loans. “Our main competitors are going to be incumbents, because there are no huge new players like Nubank or Mercado Pago…I see ourselves as a way to increase competition and improve the experience of the banked and unbanked population in Peru.” – Julien Labrot , Peru Chief Executive Officer at Revolut According to Labrot, Revolut offers notable remittance and multi-currency services, which give it a competitive edge in Peru. He also notes that approximately 1 million Peruvians live on remittances from overseas. Meanwhile, the expansion is part of the company’s broader push to reach 100 million customers worldwide, a significant jump from the current 70 million. Revolut also hopes to generate over $100 billion in annual revenue as it continues to penetrate more global markets. The smartest crypto minds already read our newsletter. Want in? Join them .