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21 Jan 2026, 08:21
Steak ‘n Shake to Pay Hourly Workers in Bitcoin Starting March
Steak ‘n Shake will begin paying all hourly employees at company-operated restaurants a Bitcoin bonus of $0.21 for every hour worked starting March 1, with funds accessible after a two-year vesting period. The 91-year-old burger chain announced the program through a partnership with Bitcoin rewards app Fold, marking another step in its year-long transformation into what CEO Will Reeves called “ a real bitcoin company, putting sound money into the hands of working Americans. “ A full-time minimum wage employee working 40 hours weekly for 30 years could retire with over $3 million if Bitcoin maintains just a 20% annual growth rate, according to Adam Simecka , founder of self-custody wallet Manna. Under that scenario, workers could start at 16 and retire at 46 without receiving raises or making additional investments beyond the hourly Bitcoin bonus. Starting March 1, Steak n Shake will give all hourly employees at its company-operated restaurants a Bitcoin bonus of $0.21 for every hour worked. Employees will be able to collect their Bitcoin pay after a two-year vesting period. Thank you, @Fold_app , for the assist. We… — Steak 'n Shake (@SteaknShake) January 20, 2026 Bitcoin Treasury Strategy Drives Double-Digit Sales Growth The hourly bonus builds on Steak ‘n Shake’s $10 million Bitcoin treasury purchase announced January 18, when the company acquired roughly 105 BTC as its first direct allocation since accepting crypto payments in May 2025. The chain formalized a “ Strategic Bitcoin Reserve ” system that channels all customer Bitcoin payments directly into treasury holdings rather than converting them to cash, creating, as executives described, a self-sustaining model tying same-store sales increases to long-term reserve accumulation. Lightning Network payments enabled across all US locations in mid-May brought transaction fee savings of nearly 50% compared with credit cards, alongside a roughly 15% increase in same-store sales in the months following the launch. The rollout received public backing from Jack Dorsey, who had enthusiastically endorsed the chain’s Bitcoin adoption plans earlier in the year when the company first polled followers about accepting cryptocurrency. i grew up in st. louis with steak ‘n shake https://t.co/w9NTC7sDoV — jack (@jack) May 18, 2025 The company reported $69.3 million in Q2 2025 revenue, a 12% year-over-year increase, with executives crediting Bitcoin users for helping drive a 10.7% quarter-over-quarter rise in same-store performance. That momentum accelerated into Q3 with 15% growth in same-store sales, outpacing major competitors including McDonald’s, Burger King, Taco Bell, and Starbucks to mark one of the most impressive runs in the fast-food sector. Community Rewards Program Links Bitcoin to Everyday Spending Through its partnership with Fold Holdings , launched October 31, Steak ‘n Shake offered customers $5 worth of Bitcoin when purchasing branded items, including the “ Bitcoin Burger, ” redeemable through the Fold app. The company pledged to donate 210 satoshis for every “ Bitcoin Meal ” sold to OpenSats, supporting Bitcoin Core and open-source development, while the limited-time promotion across 400 US locations introduced Bitcoin ownership to everyday consumers through ordinary transactions like grabbing a burger. “ Bitcoin goes mainstream when it starts showing up in everyday life, ” Reeves said. “ For many people, this will be the first time they ever own Bitcoin – and it will come from something as ordinary as grabbing a burger. “ $0.21/hr in Bitcoin. Every hour. Every employee. Steak ’n Shake is a real bitcoin company, putting sound money into the hands of working Americans. Proud @Fold_app is helping make it real. https://t.co/7o5jbl2SYf — WILL REEVES (@willreeves) January 20, 2026 The treasury strategy tied consumer incentives directly to crypto adoption rather than speculative investment, embedding Bitcoin into the daily habits of American consumers. Steak ‘n Shake is owned by Biglari Holdings, led by Sardar Biglari, though the parent company has not disclosed whether Bitcoin will play a role in its broader balance-sheet strategy beyond the restaurant operations. International Expansion and Renewed Bitcoin-Only Commitment The chain expanded into El Salvador in November after participating in the Bitcoin Histórico event in San Salvador, entering the first country to adopt Bitcoin as legal tender and signaling deeper engagement with the nation’s crypto-centered economy. The symbolic move followed months of strong financial performance tied to Bitcoin adoption across existing markets in the US, France, Monaco, and Spain. However, the company briefly faced backlash in October after polling followers about accepting Ether payments, with 53% of nearly 49,000 votes favoring the expansion. Just four hours later, Steak ‘n Shake abruptly suspended the poll and declared loyalty to Bitcoiners. “ Poll suspended. Our allegiance is with Bitcoiners. You have spoken, ” the company posted, reaffirming its commitment to Bitcoin-only payments. The quick reversal came after prominent Bitcoin advocates, including Simecka, vowed never to dine at the restaurant again if it accepted Ether. Bitcoin slid 4% to $88,000 after a leverage wipeout, while investors rotated into gold and silver during a broad “Sell America” risk-off move. #CryptoMarketUpdate #AsiaMarketOpen https://t.co/u1Hx1SGZMA — Cryptonews.com (@cryptonews) January 21, 2026 The announcement comes as Bitcoin slid 4% to about $88,000 on Wednesday amid a sharp leverage unwind that ripped through crypto markets, with liquidation data from CoinGlass showing 181,570 traders wiped out over 24 hours and total liquidations reaching $1.07 billion. Long positions absorbed $998.33 million in liquidations versus $71.39 million in shorts, while Bitcoin and Ether accounted for the bulk of forced selling at $440.19 million and $392.38 million, respectively, as trade tensions and tariff threats revived fears of a wider economic conflict pressuring risk assets globally. The post Steak ‘n Shake to Pay Hourly Workers in Bitcoin Starting March appeared first on Cryptonews .
21 Jan 2026, 07:54
SkyBridge trims crypto holdings amid 30% Bitcoin slide
SkyBridge Capital is putting more money into macro trading strategies as uncertainty around President Donald Trump’s policies creates volatile market conditions, according to company founder Anthony Scaramucci. Speaking at the World Economic Forum in Davos through the Reuters Global Markets Forum, Scaramucci explained that his firm has profited from recent market turbulence affecting interest rates, currencies and other assets. Firm shifts away from crypto holdings “Because of the volatility, the macro traders have done better,” Scaramucci said. SkyBridge’s investment mix demonstrates the strategy shift. By September 30, 2025, the macro allocation of the SkyBridge Opportunity Fund had grown to around 69%. According to regulatory documents, that represents a significant change from March 31, 2025, when digital assets and cryptocurrency accounted for almost 65% of the fund. Even after prices significantly declined from last year’s peak, Scaramucci continued to have a bullish attitude on Bitcoin despite withdrawing from cryptocurrency investments. “This is more of a timing issue than a direction issue. I don’t think the fundamental story for Bitcoin has changed . If anything, you’ve seen a lot of consolidation,” he said. Bitcoin experienced dramatic price swings in 2025. The digital currency climbed to a record high above $126,000 in October before crashing in a massive selloff. The decline forced more than $19 billion in liquidations as traders with borrowed money had to close their positions. Delays in regulations lead to a cautious approach Bitcoin was down almost 30% from its October peak as of Wednesday, trading close to $88,000. Traders who had anticipated more seamless policy changes from Washington were shaken by the decline. Scaramucci acknowledged that following last year’s elections, the cryptocurrency market anticipated regulatory developments too quickly. Businesses and investors expected the government’s handling of digital asset regulations to evolve more quickly. The GENIUS Act , which established a foundation for stablecoins, was passed by the US in July 2025. The Clarity Act, a more comprehensive piece of market structure reform, is still blocked in the Senate. As a result of the delay, exchanges and businesses now have to deal with a slower regulatory timeframe than anticipated. This regulatory holdup explains why SkyBridge maintains a careful approach despite remaining optimistic about Bitcoin’s future prospects. “I’m cautiously optimistic. I think we’ll have an OK year,” Scaramucci said. Beyond managing SkyBridge funds, Scaramucci and his son AJ have made personal investments in Bitcoin businesses. Solari Capital, started by AJ Scaramucci, led a $220 million funding round in July for American Bitcoin, a mining and treasury company connected to Trump . The Scaramuccis told Fortun e th ey have invested over $100 million in the firm. The smartest crypto minds already read our newsletter. Want in? Join them .
21 Jan 2026, 07:48
Trump’s crypto advisor confident crypto market structure bill will pass senate
Patrick Witt, President Trump’s crypto advisor, is confident that the US Senate will eventually pass a crypto market structure bill. Witt stressed that while some in the industry advocate for “no bill is better than a bad bill,” the reality is that legislation is inevitable. The key question, he says, is not if a bill will pass, but when. Patrick Witt @patrickjwitt · Follow “No bill is better than a bad bill.”What a privilege it is to be able to say those words thanks to President Trump’s victory, and the pro-crypto administration he has assembled. But let’s not kid ourselves. There *will* be a crypto market structure bill — it’s a question of 6:22 AM · Jan 21, 2026 1.0K Reply Copy link Read 153 replies Current political landscape offers a rare opportunity With a pro-crypto president, Republican control of Congress, and experienced regulators at the SEC and CFTC, the timing is ideal for passing legislation favourable to the industry. Witt warned that delaying the bill could allow Democrats to draft harsher rules, especially following a potential financial crisis. According to Witt, assuming a multi-trillion-dollar industry can continue operating indefinitely without comprehensive regulation is unrealistic. He believes that accepting compromises now is far better than risking punitive legislation in the future. Witt’s comments reflect growing frustration with companies like Coinbase, which have withdrawn support from the CLARITY Act over certain provisions. The crypto advisor specifically criticised the idea of holding out for a perfect bill, arguing that “perfect should not be the enemy of the good.” What the CLARITY Act proposes The CLARITY Act, the focal point of these debates, aims to provide clarity in crypto regulation. It defines key terms such as “digital asset,” “digital commodity,” and “blockchain,” creating a clear framework for regulators. The bill delineates jurisdiction between the SEC and CFTC. The SEC would oversee securities and investment offerings, while the CFTC would regulate commodities and trading platforms. Tokens that begin as securities could transition to commodity status if they achieve sufficient decentralisation. The legislation also includes registration requirements for exchanges, brokers, and dealers under the CFTC, as well as disclosure obligations for issuers. Mature blockchain networks would face lighter regulatory burdens, while self-custody rights for investors are explicitly protected. The CLARITY Act also encourages fundraising, allowing projects to raise to $75 million annually without full SEC registration if they meet decentralisation milestones. Industry reactions and the legislative challenges Despite its comprehensive design, the CLARITY Act has faced criticism. Some consumer advocates argue it weakens investor protections, while others warn that splitting oversight between the SEC and CFTC could create confusion. Certain Democratic lawmakers have expressed concern that the bill favours industry interests over strict regulatory safeguards. Nonetheless, Witt believes these debates highlight the need for compromise. He argues that passing the bill now under favourable conditions is preferable to risking a delayed, more restrictive version later. Witt’s message is consistent: progress is more important than perfection, and legislative action is necessary for the long-term stability of the crypto market. The CLARITY Act has already passed the House and is now awaiting its fate in the Senate. Patrick Witt remains optimistic that the Senate will pass the bill, citing both political opportunity and the practical necessity of regulation. The post Trump’s crypto advisor confident crypto market structure bill will pass senate appeared first on Invezz
21 Jan 2026, 07:30
Ripple exec forecasts 50% Fortune 500 DAT adoption
Long has predicted that half of all Fortune 500 companies’ corporate balance sheets will hold digital assets by the end of 2026. This aligns with her forecasts of a high adoption rate of stablecoins and crypto across global enterprises, banks, and capital markets. In an article published on Ripple’s website on Tuesday, company president Monica Long said stablecoins such as the US dollar-backed RLUSD are the “gold standard for programmable and 24/7 global payments.” She mentioned how the current United States administration’s GENIUS Act law has made corporate America more welcoming to crypto. Also, the launch of exchange-traded funds (ETFs) is evidence that digital assets are moving into core financial operations. “Within the next five years, stablecoins will become fully integrated into global payment systems as the foundational one rail. We’re seeing this shift not in theory, but in practice, as heavyweights like Visa and Stripe hard-wire these rails into incumbent flows,” Long wrote . Corporate crypto holdings will reach $1 trillion, says Long According to a 2025 Coinbase survey cited in Ripple’s president’s predictions, 60% of Fortune 500 companies were actively working on blockchain-related business plans that year. At the same time, more than 200 publicly traded companies have added bitcoin to their treasury holdings. Long believes the referenced survey is a vote of confidence in the digital asset treasury model. The number of such firms has gone up from just four in 2020 to more than 200, with nearly half of that in 2025 alone, she explained. “By the end of 2026, balance sheets will hold over $1 trillion in digital assets, and half of Fortune 500 companies will have formalized digital asset strategies. And not just crypto exposure, but active participation across tokenized assets, digital asset treasuries, stablecoins, onchain T-bills, and programmable financial instruments,” the business head continued. Speaking on the amount of capital institutions have to spare, Long said there was more than $700 billion sitting unused on S&P 1500 balance sheets and over $1.3 trillion parked in European firms. According to her, tokenized assets and stablecoins are the best way to deploy that capital into market liquidity that would help the global economy grow. Long expects financial institutions to lean on regulated stablecoins for capital markets activity, particularly for 24/7 collateral mobility. B2B payments became the leading real-world use case for stablecoins last year, reaching an annualized pace of $76 billion. Mergers and acquisitions on tradfi by crypto companies Crypto-related mergers and acquisitions hit $8.6 billion in 2025, with Ripple itself taking over financial institutions like debt manager GTreasury and hedge fund Hidden Road. The stablecoin issuer could continue buying more traditional firms to further push crypto into mainstream financial services. However, its CEO, Brad Garlinghouse, said Ripple is not looking to go public anytime soon, Cryptopolitan reported . Long also talked about the company’s conditional approval from the Office of the Comptroller of the Currency (OCC) to charter Ripple National Trust Bank, which the company will now use to provide custodial services under federal oversight. A regulatory effort by the Trump government is pushing banks to become multi-custodians for crypto and to manage its operational risks. Long is adamant that these forces will lead more than half of the world’s top 50 banks to create at least one new custody relationship in 2026. Last Thursday, Ripple announced a financing arrangement with LMAX Group to provide $150 million in multi-year funding to the institutional trading firm and integrate RLUSD into LMAX’s global exchange as a settlement and collateral asset. RLUSD will be available through LMAX Custody segregated wallets and through LMAX Kiosk, where trading in several asset classes uses stablecoin collateral. Join a premium crypto trading community free for 30 days - normally $100/mo.
21 Jan 2026, 07:00
Strategy Makes Its Biggest Bitcoin Bet In Months With $2.13 Billion Buy
Bitcoin treasury company Strategy has unveiled a new $2.13 billion BTC acquisition, its largest spend since July 2025’s $2.46 billion purchase. Strategy Has Expanded Its Bitcoin Reserves By 22,305 BTC As announced by Strategy co-founder and chairman Michael Saylor in an X post , the company has completed another Bitcoin acquisition, this one involving 22,305 BTC. According to the filing with the US Securities and Exchange Commission (SEC) , the purchase occurred in the period between January 12th and 19th, and cost Strategy $95,284 per token or $2.13 billion in total. The firm sold shares of its STRK, STRC, and MSTR at-the-market (ATM) stock offerings to fund the buy. Usually, Strategy reveals new acquisitions on Mondays, but this time the announcement has come on a Tuesday. The routine Sunday Saylor post foreshadowing the buy, however, did come on time. This time, the Strategy chairman made the post with the caption “₿igger Orange.” Many in the community speculated that the caption was a hint at the next purchase from the company being bigger than the last, which already involved a significant sum of 13,627 BTC. And indeed, not only has the buy been larger, it has in fact been the largest Bitcoin acquisition made by the firm since November 2024 in terms of the number of tokens involved. The larger purchase in that month expanded Strategy’s treasury by a whopping 55,500 BTC. When considering the USD value, though, the latest acquisition falls short of a purchase from late July 2025, costing the company about $2.46 billion. BTC was trading at a higher value back then, so the larger USD sum got the company a lower amount of coins (21,021 BTC). Following the latest purchase, Saylor’s firm has crossed the 700,000 BTC milestone, as its holdings have now risen to 709,715 BTC. Strategy spent a total of $53.92 billion on this stack and its current value stands at $63.55 billion, putting it in a profit of nearly 18%. As Strategy continues to accumulate, it’s solidifying its already dominant position as by far the largest corporate holder of Bitcoin, as rankings from BitcoinTreasuries.net indicate. Strategy’s closest digital asset treasury competitor isn’t a Bitcoin company, but rather an Ethereum one: Bitmine . Originally a mining-focused firm, Bitmine adopted an ETH treasury strategy in mid-2025 and has quickly established itself in the space, becoming the number one corporate holder of Ethereum and number two in overall rankings behind Strategy. According to a Tuesday press release , Bitmine has also added to its reserves over the past week, purchasing 35,268 ETH. This has taken the company’s total holdings to 4,203,036 ETH, equivalent to nearly 3.5% of the cryptocurrency’s entire circulating supply. BTC Price Bitcoin has been showing bearish momentum recently as its price has declined to the $89,300 level.
21 Jan 2026, 06:55
Terraform Labs Repayment Process Begins: Kroll Trustee Initiates Long-Awaited Relief for Claimants
BitcoinWorld Terraform Labs Repayment Process Begins: Kroll Trustee Initiates Long-Awaited Relief for Claimants In a significant development for the cryptocurrency sector, the long-awaited Terraform Labs repayment process has officially commenced. Kroll Restructuring, the appointed bankruptcy trustee, began notifying claimants worldwide on March 15, 2025, about the procedures for recovering losses from the catastrophic May 2022 collapse of the Terra-Luna ecosystem. This notification marks a pivotal step toward financial restitution for thousands of investors, nearly three years after the event that erased approximately $40 billion in market value and sent shockwaves through global markets. Terraform Labs Repayment Process Enters Distribution Phase Kroll Restructuring has formally initiated the distribution and recovery procedures for Terraform Labs claimants. According to the official notice, the trustee provides specific guidance on claim verification methods and establishes a clear schedule for future disbursements. This procedural launch follows approximately ten months of preparatory work after Terraform Labs established a dedicated claims website through Kroll in March 2025. The notification process represents the transition from claim collection to actual asset distribution, a phase claimants have anxiously anticipated since the ecosystem’s implosion. The repayment framework operates under the supervision of United States bankruptcy courts, ensuring legal compliance and procedural fairness. Kroll, a global leader in restructuring and claims administration, brings extensive expertise to this complex process. The firm previously managed high-profile cases including the Lehman Brothers and Enron bankruptcies, applying similar rigorous methodologies to the novel challenges of digital asset distribution. This experience provides crucial context for understanding the timeline and approach now unfolding for Terraform creditors. The 2022 Collapse: Context and Catalyst The Terra-Luna collapse originated from the failure of its algorithmic stablecoin, TerraUSD (UST), which lost its dollar peg in May 2022. This event triggered a death spiral that vaporized the value of its sister token, Luna (now LUNC), within days. The cascade effect contaminated broader cryptocurrency markets, contributing to the bankruptcies of several major industry players including Three Arrows Capital and Celsius Network. Consequently, the Terraform Labs repayment process addresses not just individual losses but systemic vulnerabilities exposed by the event. Legal proceedings advanced significantly in December 2023 when a jury found Terraform Labs and its co-founder, Do Kwon, liable for civil fraud. The court subsequently ordered the disgorgement of $4.7 billion in ill-gotten gains, creating the financial foundation for the current repayment initiative. This legal outcome directly enables the compensation process now administered by Kroll, linking judicial action to tangible creditor relief. Claimant Guidance and Procedural Framework The trustee’s notification outlines several critical components for claimants to understand: Verification Requirements: Claimants must provide documented evidence of holdings and losses from May 2022. Distribution Methods: Repayments may occur through direct transfers, structured settlements, or asset distributions. Communication Channels: Kroll maintains the dedicated claims portal as the primary information source. Timeline Expectations: The notice provides estimated windows for different processing stages. This structured approach aims to minimize confusion and prevent fraud during the distribution phase. The process notably handles thousands of claims across multiple jurisdictions, requiring sophisticated coordination between legal systems and financial networks. Furthermore, the trustee must navigate the unique complexities of valuing and distributing digital assets, which lack standardized valuation frameworks compared to traditional securities. Key events from the Terra-Luna collapse through to the 2025 repayment process initiation. Comparative Analysis with Other Crypto Bankruptcies Bankruptcy Case Trustee/Administrator Time to First Distribution Estimated Recovery Rate Terraform Labs Kroll Restructuring ~34 months Pending determination Celsius Network Stretto ~28 months 67-85% for custody claims FTX Trading Ltd. John Ray III Ongoing (est. 36+ months) Projected 90%+ for some creditors Three Arrows Capital Teneo ~30 months Estimated 45% This comparative perspective demonstrates that the Terraform Labs repayment process operates within industry-standard timeframes for complex crypto bankruptcies. Each case presents unique challenges regarding asset tracing, jurisdictional issues, and creditor composition. The Terraform situation involves particularly complicated questions about valuing novel financial instruments that lacked traditional regulatory frameworks at the time of collapse. Market Impact and Regulatory Implications The initiation of repayments carries substantial implications for cryptocurrency market confidence and regulatory development. Successfully executing the Terraform Labs repayment process could establish important precedents for handling future digital asset insolvencies. Regulatory observers closely monitor the distribution mechanics, particularly regarding how the trustee handles tokenized assets and cross-border claims. These observations may inform upcoming regulatory frameworks in the United States, European Union, and Asian markets. Market analysts note that orderly creditor compensation could help restore institutional confidence damaged by the 2022 contagion event. However, the process also highlights persistent systemic risks within decentralized finance (DeFi) ecosystems. The procedural transparency demonstrated by Kroll may set new standards for creditor communication in crypto bankruptcies, potentially influencing future legal requirements for failed platforms. Expert Perspectives on the Distribution Challenge Legal and financial experts emphasize the unprecedented challenges in this distribution. “Administering claims for a globally dispersed pool of creditors holding digital assets requires innovative solutions,” noted Dr. Eleanor Vance, a blockchain governance researcher at Stanford University. “The trustee must verify identities and claims across jurisdictions while ensuring compliance with evolving anti-money laundering standards. This process tests the adaptability of traditional bankruptcy frameworks to Web3 realities.” Furthermore, the valuation methodology for impaired assets presents complex questions. Unlike traditional securities with established pricing mechanisms, the valuation of UST and LUNA tokens at specific historical moments requires sophisticated forensic analysis. The trustee likely employs blockchain analytics firms to trace transaction histories and verify claim amounts, adding technical layers to the legal process. Conclusion The commencement of the Terraform Labs repayment process represents a watershed moment for affected investors and the broader digital asset industry. Kroll Restructuring’s notification to claimants initiates the tangible recovery phase, transforming legal victories into financial restitution. This procedural milestone demonstrates the gradual maturation of cryptocurrency bankruptcy proceedings, applying traditional restructuring expertise to novel technological contexts. While challenges remain in executing distributions across global jurisdictions, the process establishes important precedents for accountability and creditor protection in decentralized finance. The successful administration of the Terraform Labs repayment process will significantly influence regulatory approaches and market confidence as the industry continues evolving beyond its early volatility toward greater institutional resilience. FAQs Q1: Who is eligible to participate in the Terraform Labs repayment process? Eligibility extends to individuals and entities who held UST or LUNA tokens during the May 2022 collapse and submitted valid claims through the Kroll administration website before the claims deadline. The trustee verifies each claim against blockchain records and supporting documentation. Q2: What is the expected timeline for receiving compensation? While specific timelines vary by claim complexity, the trustee’s notice indicates that initial distributions for verified claims could begin within the next 6-9 months. Complex claims requiring additional verification or legal review may experience longer processing times. Q3: How will repayments be calculated and distributed? Repayments will reflect approved claim amounts based on asset valuations at specific historical dates determined by bankruptcy court rulings. Distributions may occur through direct bank transfers, digital asset transfers, or other court-approved methods, with detailed instructions provided to each claimant. Q4: What happens if claimants missed the original filing deadline? Claimants who missed the initial filing deadline typically cannot participate in the primary distribution. However, bankruptcy courts occasionally authorize late claim filings under exceptional circumstances, though such claims usually receive lower priority in distribution schedules. Q5: How does this process affect current LUNA (LUNC) and USTC token holders? The repayment process addresses losses from the original 2022 tokens, not current trading of the reconstituted LUNC and USTC tokens. The bankruptcy proceedings involve the defunct Terraform Labs entity, while the revived Terra Classic blockchain operates as a separate community-led project. This post Terraform Labs Repayment Process Begins: Kroll Trustee Initiates Long-Awaited Relief for Claimants first appeared on BitcoinWorld .
