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19 Jan 2026, 21:55

South Korea sentences crypto operators in USDT scam

South Korean authorities imprisoned two fraudsters for laundering $1 million in USDT from a voice phishing operation. The leader was sentenced to five years in prison, while his employee was sentenced to two years and eight months. The 41-year-old leader, along with his employee, operated an illegal crypto exchange. They laundered $1 million using Tether’s USDT to support a voice phishing group. Funds vanished within an hour South Korean prosecutors stated the criminals used Telegram to contact the exchange chief for three months. The criminals pretended to be police officers or relatives to trick victims into sending money to accounts managed by the illegal exchange. The exchange received the money from local banks after the victims sent funds to these accounts. Then the employees converted the deposited fiat currency for USDT . The funds moved fast from cheques, to cash deposited to the sketchy exchange, and finally to Tether coins. A prosecutor said that regulators and banks could not freeze victims’ accounts. There was not enough time to recover the funds after the victims reported the scams to the police. Other prosecutors informed the court that the voice phishing operation was located abroad, but they did not reveal the exact location. They told the court the process was so fast that the money disappeared within one hour. Presiding Judge Lee Young-cheol said the court considered that the defendants did not try to repair the victims’ severe harm, reported Yeongnam Ilbo. The judge described the crimes as heinous and said the defendants made it nearly impossible to recover the lost money. The leader and his employee are facing charges under the Special Act on the Prevention of Damage and Refund of Damage from Telecommunications Financial Fraud. South Korean officials said they could not determine the number of victims who lost money to the voice phishing fraud. South Korean officials warn of rising stablecoin fraud The adoption of cryptocurrencies is accelerating in South Korea , but criminals are increasingly using them to scam people, too. Regulators reported a 54% increase in suspicious crypto transactions last year compared to the previous year. South Korean ministers are urging quick government action to prevent criminals from exploiting stablecoins like USDT and USDC. In September, lawmaker Jin Sung-joon said stablecoins are increasingly likely to be misused in foreign exchange crimes like illegal currency exchange. “We need a coordinated, proactive strategy encompassing law enforcement authorities such as KoFIU and the Korea Customs Service, in tracking, identifying and prosecuting criminal funds,” said the lawmaker. He added, “More policy measures should be outlined to prevent illegal, unauthorized remittances and tackle financial crimes involving crypto assets.” Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .

19 Jan 2026, 21:40

Coinbase CEO leverages Davos 2026 to speak to world leaders on crypto adoption

Coinbase Chief Executive Officer Brian Armstrong has outlined three priorities for his visit to the 2026 World Economic Forum (WEF) being held at Davos, Switzerland. Armstrong stated that he will be engaging world leaders on economic freedom and cryptocurrency adoption, advancing market structure legislation, and promoting tokenization to democratize capital market access. “I’m talking to different world leaders about economic freedom and how crypto can update their financial system,” Armstrong said in a video posted on X , outlining that it is the first goal for them this week. This year’s edition of the WEF is themed “ A Spirit of Dialogue ,” and from Armstrong’s write-up and video, it seems he will be doing a lot of dialogue to advocate for what he calls the future of finance, which he says is here, and this time it’s built for the people. Armstrong’s takeaways from Davos 2025 Last year, the Coinbase chief reported that cryptocurrency and artificial intelligence were the most discussed topics at Davos apart from President Donald Trump himself. Armstrong said nearly every conversation with major market leaders centered on the Trump administration’s cryptocurrency plans, particularly the proposed Strategic Bitcoin Reserve, which Trump later established in March 2025 via an executive order . “President Trump is forcing everyone to up their game,” Armstrong wrote on X following the forum. “Basically every conversation I had with major market leaders was focused on what the Trump Admin planned to do on crypto – eg, on a Strategic Bitcoin Reserve – and how they can avoid being left behind.” During a panel discussion at the forum, Armstrong stated that it was the “dawn of a new day” for cryptocurrency, contrasting with what he characterized as hostility from the previous administration. “You have to remember: the last four years, we really felt like we were being attacked by this administration,” he told CNBC in Davos. Bitcoin did rise to its all-time high of over $126,198 in October 2025; however, it also crashed briefly that same month and hasn’t risen above $100,000 since November 2025. Coinbase CEO to speak with bank CEOs The second thing on Armstrong’s to-do list at Davos 2026 is to work with bank CEOs to find working legislation that works for all of them. “We’re going to continue to work on market structure legislation and meet with some of the bank CEOs to figure out how we can make this a win-win,” he stated. Given the current boom in the usage of stablecoins, jurisdictions like the United States and Hong Kong have made legislation like the GENIUS Act and Stablecoin Ordinance, respectively, and they are not alone, as more have made and are making regulations that govern stablecoins. The United States is currently working on more robust crypto legislation known as the CLARITY Act , and some of its provisions, alongside those in the GENIUS Act, are of concern for stakeholders like Armstrong and CEOs of some major banks. So, it’s no surprise that Armstrong wants to speak with them to forge a way to work together. “Stablecoins should be an opportunity for both banks and crypto companies as long as we’re all treated on a level playing field,” he said, adding that final decisions would be deferred to the Senate and the current administration. Democratizing capital markets Armstrong’s third priority focused on tokenization and its potential to expand access to investment opportunities. He cited approximately 4 billion adults globally who lack access to brokerage services and quality investments. “There’s about 4 billion adults globally that are unbrokered. They don’t have access to any kind of high quality investments,” Armstrong said. “This is the engine of wealth creation that everybody should have access to, and crypto’s gonna help make that happen.” The smartest crypto minds already read our newsletter. Want in? Join them .

19 Jan 2026, 20:11

Steak ‘n Shake Adds $10 Million in Bitcoin Exposure Alongside BTC 'Strategic Reserve'

Restaurant chain Steak ‘n Shake is doubling down on Bitcoin after crediting the crypto asset with driving rising sales last year.

19 Jan 2026, 19:40

Evening digest: Gold, silver hit record highs as Trump tariff fears slam Bitcoin and Europe stocks

Markets swung hard into risk-off mode Monday as Trump’s Greenland tariff threats reignited US-Europe trade war fears and sent investors scrambling for safety. Gold surged to near $4,700/oz, and silver spiked above $94, crushing the dollar and rattling European equities. Geopolitical shockwaves deepened after Trump invited Putin to a paid “Board of Peace” for Gaza. Meanwhile, the Fed faced fresh political pressure, and Bitcoin slipped below $93,000 amid liquidation-driven selling. Gold, Silver soar to record highs Gold and silver blasted through record highs Monday as Trump’s Greenland tariff threats sent investors sprinting into havens. Spot gold surged 2.1% to near $4,700/oz while silver jumped 4.4% to $94.08/oz, extending a jaw-dropping rally, gold up 6% year-to-date, silver 30%+. The spike reflects a toxic cocktail: escalating US-Europe trade war fears, a weakening dollar as tariff uncertainty spreads, and central bank independence concerns after the Justice Department probed Fed Chair Powell. Silver’s outperformance is particularly sharp, with the gold-silver ratio compressing from 105 in late 2025 to the low 50s. Analysts at StoneX warn that Trump’s Greenland aggression suggests NATO dissolution and European political instability, driving safe-haven demand. Meanwhile, European equities cratered, the Stoxx Autos Index dropped 2.2%, and luxury stocks fell 2.9%. Trump invites to his ‘Board of Peace’ Trump extended an audacious invitation to Putin on Monday to join his newly minted “Board of Peace” overseeing Gaza reconstruction, with permanent membership costing $1 billion per nation. The Kremlin’s cautious response, saying it’s “looking at details,” masks a deeper geopolitical tension: Trump is courting Putin even as Ukraine’s war nears its fourth anniversary with no ceasefire in sight. The board, chaired by Trump for life, features Tony Blair, Jared Kushner, and Mark Carney, but critics immediately flagged the absurdity. Inviting a leader accused of war crimes in Ukraine to govern Gaza’s peace sits poorly with European allies, particularly as Trump publicly blamed Zelenskyy (not Putin) for stalling Ukraine negotiations just days ago. Peskov even praised Trump’s Greenland ambitions, a tacit blessing of NATO’s potential dissolution. The move signals Trump’s reset priorities: making deals with autocrats (Iran sanctions already eased) supersedes supporting democratic allies. Fed Chair backs Cook as Trump escalates political war Fed Chair Jerome Powell will sit in the Supreme Court gallery on Wednesday, an extraordinary show of institutional defiance, as justices weigh Trump’s effort to fire Lisa Cook over unproven mortgage fraud allegations. The timing is explosive: the Justice Department simultaneously probes Powell himself for allegedly misleading Congress on a Fed building renovation, a tactic Powell labeled a “pretext” to pressure him into rate cuts. Legal experts call Trump’s two-front assault on the Fed a coordinated squeeze play. Cook denies the mortgage fraud charges, which rely solely on her 2007 loan application, signed years before joining the Fed. Cook was never charged, and no bank alleged fraud. The broader stakes dwarf Cook’s individual case. If Trump can fire her “for cause” without judicial review, he gains a roadmap to oust Powell too, eroding the Fed’s 113-year independence engineered by Congress. Bitcoin slips below $93,000 Bitcoin tumbled 2.8% to $92,519 Monday as Trump’s Greenland tariff ultimatum triggered a $869.5 million crypto liquidation cascade, with Bitcoin longs alone accounting for $229.5 million in blown-out positions. Ether cratered 3.5% to $3,199, Solana plunged 6.6%, and even the Trump-branded meme token shed 6.4% in the selloff. The culprit isn’t technical; it’s geopolitical risk aversion. Tariffs and NATO dissolution fears don’t directly impact blockchain fundamentals, but they demolish the speculative appetite needed to hold volatile assets. Traders fled crypto for gold’s safe-haven rally, with Bitcoin losing $92.5 billion in market cap overnight. A delayed crypto regulatory bill (lawmakers postponed debate over industry objections, including Coinbase’s) added fuel to the exodus. The post Evening digest: Gold, silver hit record highs as Trump tariff fears slam Bitcoin and Europe stocks appeared first on Invezz

19 Jan 2026, 18:45

India’s central bank proposes linking CBDCs of BRICS nations to reduce the bloc's dependence on the U.S. dollar

India is joining the long list of countries attempting to break away from U.S. dependence following President Donald Trump’s aggressive trade strategies. India’s central bank, the Reserve Bank of India, has proposed linking the digital currencies of the BRICS alliance member states to make payments across borders easier. How will linking digital currencies change international trade? The Reserve Bank of India (RBI) has suggested that the 2026 BRICS summit, which is set to be held in the country, include a formal proposal to connect the central bank digital currencies (CBDCs) of its members. The BRICS group currently includes Brazil, Russia, India, China, South Africa, the United Arab Emirates, Iran, and Indonesia. Connecting the central bank digital currencies (CBDCs) will make “cross-border trade and tourism payments easier.” Under the current system, most international trades are settled using the U.S. dollar. This often requires using Western-led systems like SWIFT. With linked CBDCs, BRICS nations could settle trades directly with one another. The RBI’s proposal builds on an agreement made in Rio de Janeiro, 2025, that focused on making payment systems “interoperable.” While no BRICS member has fully launched a public CBDC, all five original members are running advanced pilot programs like India’s “e-rupee,” which has already reached 7 million retail users. China has also been aggressively supporting the international use of its digital yuan. For the linking to be successful, the involved countries must agree on “interoperable technology” and governance rules. To fix trade imbalances, like when Russia previously ended up with a massive surplus of Indian rupees that it could not easily spend, the RBI is exploring “bilateral foreign exchange swap arrangements” that would allow central banks to exchange currencies at fixed rates to settle debts every week or month. Why is the BRICS alliance moving away from the U.S. dollar? U.S. President Donald Trump has recently called the BRICS alliance “anti-American” and has repeatedly threatened to impose 100% tariffs on countries that try to move away from the dollar. These threats have created trade friction between the U.S. and several BRICS members, including India. The RBI has stated that its efforts to promote the rupee are not intended to be “anti-dollar,” but rather to protect its own economic interests. India has recently developed a closer relationship with Russia and China on trade issues to avoid the impact of U.S. trade wars. RBI Deputy Governor T. Rabi Sankar recently warned that stablecoins pose risks to “monetary stability” and “banking intermediation,” and so the country is promoting the state-backed digital rupee to dissuade citizens from using dollar-pegged stablecoins for daily payments. With the addition of major oil producers like the UAE and Iran, as well as a large economy like Indonesia, to the BRICS alliance, it now has more power to create its own financial network. In late 2025, reports showed that a multi-CBDC platform involving China and the UAE, known as the “ mBridge ” project, is technically possible. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .

19 Jan 2026, 18:04

Powell Stands Firm in Federal Reserve Showdown with Trump

Trump pushes for lower interest rates, challenges Fed's independence. Powell plans to attend Supreme Court case on Fed member's dismissal. Continue Reading: Powell Stands Firm in Federal Reserve Showdown with Trump The post Powell Stands Firm in Federal Reserve Showdown with Trump appeared first on COINTURK NEWS .