31 Jan 2026, 23:30

Citgo’s Venezuelan Crude Purchase Signals a Turn in US Policy

Following the capture of the President of Venezuela Nicolás Maduro, reports indicate that the U.S. has sold its first shipment of Venezuelan crude, fetching $500 million. At the same time, oil—the world’s second-largest asset by market capitalization—has climbed nearly 14% since the start of the year amid geopolitical strain and escalating trade wars. Citgo Acquires

31 Jan 2026, 23:29

Wall Street picked Trump's new Fed chairman Kevin Warsh

Kevin Warsh always said the job was his. Back in November 2024, right after Donald Trump won the election, Kevin flew to Mar-a-Lago thinking he was being interviewed for Treasury Secretary. But Trump had other plans. “You’re my Fed chair,” Trump told him. For over a year, Kevin repeated that to everyone. And he was right. It took 14 months, one bitter fight inside the White House, and a criminal case against Jerome Powell, but by January 2026, Trump finally said it out loud. He picked Kevin to lead the Federal Reserve. How Kevin outplayed Hassett with Wall Street help The biggest obstacle in Kevin’s way was Kevin Hassett, Trump’s economic adviser. By late 2025, Hassett was convinced he had the job. Trump told his cabinet he’d made his pick. All other interviews were suddenly canceled. While Kevin was on vacation in the Bahamas, Trump was spending the holidays with Hassett in Florida. At that point, everyone assumed it was Hassett. Trump even hinted to reporters, “I know who I’m going to pick,” then just grinned. Inside the West Wing, officials started ignoring Kevin. One senior official said he was finished and mocked him like a man clinging to a sinking boat. The reason? Trump thought Kevin looked desperate. But Kevin had something Hassett didn’t; powerful friends. JPMorgan CEO Jamie Dimon said he liked Kevin for the job. Stanley Druckenmiller made calls on his behalf. Treasury Secretary Scott Bessent was tight with Druckenmiller too. Ronald Lauder, Kevin’s father-in-law, is a Republican megadonor and close to Trump. That crew didn’t sit quiet. They got on the phone and told Trump’s team: Hassett was too close to Trump to be seen as independent by the markets. It was risky. Dimon had beef with Trump. Druckenmiller said he wouldn’t vote for either Trump or Kamala Harris in 2024. Still, their pitch landed. Hassett’s Wall Street credibility came under fire. He also said he might not even stay the full four years. People started wondering how badly he even wanted the job. Hassett said he was happy where he was. “This is my dream job,” he told reporters. Trump wanted a rate cutter, and Kevin said yes On December 10, just hours after the Fed cut rates by 0.25%, Kevin met with Trump. Trump had long regretted choosing Powell. He was looking for someone who’d work with him, not push back. He asked Kevin straight up if he would support more cuts. Kevin said yes. Trump told the Journal, “I asked him what he thinks. He thinks you have to lower interest rates.” During the holidays, Trump told aides he liked Kevin’s sharpness and how he looked. It was a change from 2017, when he’d passed on Kevin for looking too young and chose Powell instead. Back then, Powell was seen as more open to easy-money policies. Kevin was the hawk. He later told NYU professor Simon Bowmaker, “I did not put my ambitions ahead of my principles.” After the first term soured, Trump’s team asked Kevin if he’d replace Powell. He refused. “The position was not open,” he told Bowmaker. But in Trump’s second term, talks restarted. Trump even considered firing Powell. Again, Kevin said not yet. Then on January 11, Powell went public. He announced the DOJ was investigating him for lying to Congress. That set off chaos. Republicans like Senator Thom Tillis and Lisa Murkowski said they’d block any nominee until the case was over. The scandal crushed Hassett’s chances. He had spent months on TV trashing Powell. Now his loyalty looked dangerous. On January 16, Trump humiliated him in public. At a White House event, Trump said, “I actually want to keep you where you are,” with Hassett sitting in the front row. Kevin, on the other hand, had stayed quiet. He gave a few speeches last year, then disappeared from TV. Other finalists? They never had a shot. Fed Governor Christopher Waller’s meeting with Trump lasted 30 minutes. Trump was two and a half hours late. Rick Rieder’s meeting was longer, but he pitched a complex rate idea; 3% fed-funds, 4% on the 10-year Treasury, 5% mortgages. He’d also donated to Democrats and Nikki Haley. That didn’t help. Scott started the process last summer. He interviewed 11 people. He didn’t want to be blamed for the choice like Steven Mnuchin was back in 2017 when Powell was picked. He told friends Trump was making the call himself. The delay made some officials think the search might expand. On Monday before the announcement, Judy Shelton (known for backing Trump’s Fed views) met Scott. That added speculation. But the Fed held rates steady Wednesday, and Powell hinted they may not cut again soon. That night, Trump met Kevin one more time. The next morning at 6:48 a.m., he made it official. “I have known Kevin for a long period of time,” Trump wrote online, “and have no doubt that he will go down as one of the GREAT Fed Chairmen.” If you're reading this, you’re already ahead. Stay there with our newsletter .

31 Jan 2026, 22:30

3 Reasons Bitcoin Buckled as January Closed

Bitcoin’s price is having a rough day, sliding 8.3% over the past 24 hours and 13.6% across the last seven days, touching an intraday low of $75,555 on Bitstamp at 1:30 p.m. Eastern time. What follows is a closer look at three factors that have succeeded in keeping bitcoin prices pinned to the mat. Bitcoin

31 Jan 2026, 18:55

Bitcoin slips below $80K amid crypto selloff

More on Bitcoin USD, Ripple USD, etc. Whale's Market Outlook 2026: Crypto Majors, Perp DEXs, And Prediction Markets Davos Takeaways - Bitcoin Is Not Here To Replace Banks, And That's A Good Thing VanEck Mid-January 2026 Bitcoin ChainCheck Bitcoin set for longest monthly loss streak since 2018, down over 6% in January Crypto market structure bill advances out of Senate Agriculture Committee

31 Jan 2026, 18:30

Latin American Giant Nu Secures US Banking License – Details

Nu, the largest Latin American digital bank, has recently announced a major achievement in securing conditional approval of a national banking charter from the US Office of the Comptroller of the Currency (OCC). This development would see the Brazil-based bank expand its operational footprint into the United States, with sights set on potential strategic hubs in Miami, the San Francisco Bay Area, Northern Virginia, and the North Carolina Research Triangle. Related Reading: Capital Rotation Intensifies As Bitcoin Lags Gold and US Equities Nu Establishes Initial Presence, Next Steps In Focus In a blog post on January 29, Nu shares a business milestone in receiving a conditional approval that would allow the digital bank to extend its product offerings to the US market under the de novo national subsidiary known as Nubank N.A. However, to gain full operational powers of the national bank charter, the digital asset firm is expected to meet several criteria in terms of compliance systems, risk controls, governance, etc. In addition, the Nubank N.A. must also obtain all pending approvals from other regulators, including the Federal Deposit Insurance Corporation (FDIC) and the US Federal Reserve (Fed). The digital bank is also expected to have received all required start-up capital within 12 months and begin operations within 18 months, with its initial service expected to include deposit accounts, credit cards, lending, and digital asset custody. Commenting on the conditional approval from the OCC, the founder and CEO of Nu Holdings, David Vélez has expressed much excitement, stating the expansion provides a unique opportunity to contribute to the next level of US banking. Vélez said: This approval isn’t just an expansion of our operation; it’s an opportunity to prove our thesis that a digital-first, customer-centric model is the future of financial services globally. While we remain fully focused on our core markets in Brazil, Mexico, and Colombia, this step allows us to build the next generation of banking in the United States. Meanwhile, the Nubank N.A. is expected to be led by co-founder Cristina Junqueira, while former President of the Central Bank of Brazil Roberto Campos will chair the company’s board of directors. Crypto Market Overview At the time of writing, the total crypto market cap is $2.84 trillion, following a slight 0.84% decline over the past day. Meanwhile, daily trading volume is now valued at $172.24 billion. Aside from Nu’s expansion into the US, other recent pro-crypto developments include the Senate Agriculture Committee’s clearance of the Clarity Act and another partnership between the SEC and CFTC on crypto projects. Featured image from Building Nubank, chart from Tradingview

31 Jan 2026, 18:22

Solana DeFi platform step finance hit by $27 million treasury hack as token price craters

The platform's governance token (STEP) plummeted over 80% following the announcement amid a wider crypto market drawdown.