Following the passage of the virtual asset service providers (VASP) Act (Act 1154), the Bank of Ghana has launched the National Virtual Assets Literacy Initiative. Strengthening Oversight and Consumer Protection The Bank of Ghana (BOG) recently launched a cryptocurrency awareness initiative dubbed the National Virtual Assets Literacy Initiative (NAVALI). The launch of NAVALI is a […]
Bybit Leads Global XAUT Spot Trading with ~16% Market Share as Tokenized Gold Rallies to New Highs
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, announced that it has become the No.1 centralized exchange for spot trading of Tether Gold (XAUT), commanding approximately 15.75% of total XAUT trading volume among centralized venues, according to CoinGecko data.
The surge in XAUT activity coincides with the token hitting new all-time highs around $5,500, closely tracking spot gold’s breakout above $5,000. Gold prices have climbed on rising macroeconomic uncertainty, persistent inflation risks, geopolitical tensions, and continued central bank accumulation of gold — factors that have reinforced gold’s role as a global hedge and store of value.
“Spot gold rose over 64% in 2025 — its biggest annual gain since 1979,” said Han Tan, Chief Market Analyst at Bybit Learn. “As long as the macro backdrop remains conducive, and central banks and ETF investors sustain their purchases, gold should have little trouble posting fresh all-time highs in 2026.”
As interest in gold-backed tokens accelerates, Bybit has become the primary liquidity and price discovery venue for XAUT, with trading activity remaining strong across weekends and periods when traditional commodities markets are closed. The exchange’s liquidity depth has made it a central hub for traders seeking to gain or adjust gold exposure in real time, regardless of traditional market hours.
The concentration of XAUT trading on Bybit reflects a broader shift in how market participants are approaching the current bull cycle. More traders are turning to tokenized real-world assets (RWAs) such as gold-backed tokens to balance volatility in digital asset portfolios, while retaining the speed, accessibility, and global reach of crypto markets.
“Gold’s resurgence is being mirrored on-chain through XAUT, and traders are choosing Bybit as their primary venue to trade,” said Emily Bao, Head of Spot at Bybit. “Our focus has been on building the deepest liquidity and most reliable market access, enabling efficient execution as tokenized gold becomes a core macro asset in crypto markets.”
Bybit’s comprehensive product suite enables traders to capitalize on XAUT’s momentum through multiple strategies. The platform offers spot trading, margin trading with up to 10x leverage, and derivatives trading with up to 50x leverage. Traders can deposit XAUT across multiple blockchains including Solana, Ethereum, Mantle, Monad, and TON. The exchange also supports automated strategies such as DCA/recurring buys and Grid Bot, alongside onchain tools for alpha trading and yield farming, giving users flexible options to participate in the gold rally.
As the tokenized gold market continues to expand, Bybit remains committed to delivering strong liquidity, 24/7 trading access, and institutional-grade market infrastructure, reinforcing its position as the leading centralized exchange for XAUT trading during the current gold-driven bull run.
U.S. sanctions crypto exchanges tied to Iran for first time after brutal protest crackown
The U.S. Treasury Department has, for the first time, sanctioned cryptocurrency exchanges for operating in Iran’s financial sector.
The Office of Foreign Assets Control (OFAC) announced sanctions against Zedcex and Zedxion both registered in the United Kingdom, as part of a broader crackdown on Iranian authorities after their brutal suppression of an internal uprising that killed thousands of their own citizens.
According to the Treasury’s statement, the exchanges facilitated transactions for the Islamic Revolutionary Guard Corps (IRGC), which the U.S. and its allies in the European Union designate as a terrorist organization. Since their registration in 2022, just one of these processed over $94 billion in transactions, the Treasury said.
The two platforms are also linked to Babak Morteza Zanjani, an Iranian businessman once convicted of embezzling billions from Iran’s national oil company. OFAC alleges Zanjani used the exchanges to help move funds for the regime, including proceeds supporting IRGC-linked entities.
The Central Bank of Iran (CBI) was found earlier this month to have bought over $500 million of Tether’s USDT stablecoin, with the primary purpose of manipulating foreign exchange markets as the rial’s value plunged.
This designation marks a shift. While OFAC has previously sanctioned individual crypto wallet addresses and technology providers tied to sanctions evasion or cybercrime, yet this is the first time it has blacklisted entire exchange entities under Iran-specific financial sanctions authorities.
As a result of the designation, all U.S.-linked assets of the exchanges are now frozen, and American individuals and entities are barred from engaging with them.
US Treasury Sanctions Iran-Linked Crypto Exchanges for First Time
The United States Treasury has sanctioned two cryptocurrency exchanges linked to Iran’s financial system, marking the first time Washington has directly targeted digital asset platforms as part of its Iran sanctions program.
In a statement on Friday, the Treasury Department’s Office of Foreign Assets Control (OFAC) said the sanctions are part of a wider move against Iranian officials and networks accused of violently suppressing people at home while using alternative financial channels to get around international sanctions.
Among those sanctioned was Eskandar Momeni Kalagari, Iran’s minister of the interior, who oversees the country’s Law Enforcement Forces. “Treasury will continue to target Iranian networks and corrupt elites that enrich themselves at the expense of the Iranian people,” Treasury Secretary Scott Bessent said.
OFAC also designated Babak Morteza Zanjani, a well-known Iranian businessman previously convicted of embezzling billions of dollars in oil revenue from Iran’s national oil company. According to the Treasury, Zanjani was released from prison and later used by the Iranian state to help move and launder funds, providing financial support to projects tied to the Islamic Revolutionary Guard Corps (IRGC).
Related: Trump says shutdown deal near, but markets remain on edge
US sanctions UK crypto exchanges over Iran links
The sanctions break new ground by extending to two UK-registered crypto exchanges, Zedcex Exchange Ltd. and Zedxion Exchange Ltd., which US officials say are linked to Zanjani and have processed large volumes of transactions connected to IRGC-linked entities. OFAC said Zedcex alone has handled more than $94 billion in transactions since its registration in 2022.
“This marks OFAC’s first designation of a digital asset exchange for operating in the financial sector of the Iranian economy,” the Treasury said.
Bessent accused Tehran of diverting oil revenues toward weapons programs and militant proxies instead of supporting its population. He said the United States would continue to target networks that exploit digital assets to bypass restrictions and finance illicit activity.
Beyond the crypto-related designations, OFAC also sanctioned senior IRGC commanders and security officials across multiple provinces, citing evidence of live-fire attacks on protesters, forced burials without funerals and widespread intimidation aimed at crushing dissent.
Related: Iran is cut off from the internet: Here’s how crypto could still work
Iran’s central bank used $500 million in USDt to support rial
Last week, blockchain analytics firm Elliptic said Iran’s central bank accumulated more than $500 million worth of Tether’s USDt (USDT) during a period of severe economic stress, likely using the stablecoin to support the collapsing rial or settle international trade.
The accumulation began as the currency lost roughly half its value in eight months, with Elliptic suggesting the bank used USDT on local exchange Nobitex to buy rials, mirroring traditional central bank market operations through crypto.
Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026
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OKX CEO blames irresponsible USDe yield campaigns for October flash crash
OKX CEO Star Xu said the October 10 crash was not an accident but was the result of high-risk yield campaigns tied to USDe that normalized hidden leverage, pushing back after Binance released a report attributing the turbulence to macroeconomic shocks and market-structure issues.
In a statement issued on Friday, Xu argued that the incident, which triggered over $19 billion in liquidations within 24 hours and affected 1.6 million traders, “was caused by irresponsible marketing campaigns by certain companies.”
“We observed clearly that the crypto market’s microstructure fundamentally changed after that day,” Xu stated. “Many industry participants believe the damage was more severe than the FTX collapse.”
According to Xu, systemic risk had built up quietly across platforms before being exposed by market volatility.
He said the root of the problem was user-acquisition campaigns that promoted double-digit yields on USDe while allowing it to be used as collateral and treated with the same risk assumptions as USDT and USDC.
“USDe is fundamentally different from products such as BlackRock BUIDL and Franklin Templeton BENJI, which are tokenized money market funds with low-risk profiles. USDe, by contrast, embeds hedge-fund-level risk,” Xu noted.
In practice, USDe traded as if it were interchangeable with stablecoins despite a materially higher risk profile, the OKX CEO stated, adding that this encouraged leverage loops in which users repeatedly swapped USDT and USDC into USDe, borrowed against it, and recycled the proceeds to chase yield, pushing headline APYs from 24% to more than 70%.
When market volatility rose on October 10, Xu said even a relatively small market shock was enough to trigger a rapid breakdown. USDe depegged, liquidations cascaded across venues, and weaknesses in risk management around other assets such as WETH and BNSOL amplified losses, with some tokens briefly trading near zero.
He said the impact on global users and companies, including OKX customers, was severe and recovery would take time.
“I am discussing the root cause, not assigning blame or launching an attack on Binance. Speaking openly about systemic risks is sometimes uncomfortable, but it is necessary if the industry is to mature responsibly,” Xu explained, pointing out that Binance bears an outsized responsibility for market stability.
The crash occurred amid heightened volatility following Donald Trump’s announcement of a 100% tariff on Chinese imports. High leverage across centralized exchanges compounded the selling pressure.
ARK Invest CEO Cathie Wood said on ‘The Claman Countdown’ this month that the severity of the crash was linked to a software glitch at Binance, calling it an “aftershock” of prior market instability.
Xu previously pointed to an “industry-leading company” as a primary culprit, accusing the exchange of manipulating low-quality tokens in ways he compared them to Ponzi schemes. He claimed that such practices had eroded trust across the crypto industry.
In its report, Binance said the crypto crash was triggered by macroeconomic shocks, elevated leverage across the market, market makers pulling liquidity under extreme volatility, and Ethereum’s network congestion.
Binance said its systems stayed operational during the selloff, with minor issues occurring after most liquidations. The exchange has compensated affected users and improved safeguards after the event.
Invest Qatar Showcases Ecosystem growth at Web Summit Qatar 2026 via Startup Qatar Pavilion
Invest Qatar, the national investment promotion agency, will participate in Web Summit Qatar 2026, where it will host the Startup Qatar Pavilion to highlight the country’s rapidly evolving entrepreneurial landscape.
Building on the engagement of previous editions, the pavilion is designed to showcase Qatar’s business-friendly environment and the opportunities available to international startups seeking to establish a presence and scale operations in the region.
A unified platform for growth
The Startup Qatar Pavilion will serve as a central hub connecting participants with key national entities instrumental in fostering innovation. Participating organisations include the Qatar Free Zones Authority (QFZ), Qatar Financial Centre (QFC), Ministry of Communications and Information Technology (MCIT), Qatar Development Bank (QDB), and Media City Qatar, among others.
The initiative offers a suite of enhanced services to accelerate startup growth, including streamlined business setup and licensing, access to investment and funding programmes, specialized immigration support, and expert advisory services.
Sheikh Ali Alwaleed Al-Thani, CEO of Invest Qatar, commented: “Web Summit Qatar has grown into a powerful platform that reinforces Qatar’s role as a global hub for technology and innovation. Beyond supporting ambitious startups and entrepreneurs, we are forging strategic partnerships with leading tech players, connecting them to the country’s dynamic market and supporting their expansion.”.
Focus on semiconductors
In addition to the pavilion, Invest Qatar’s CEO will participate in a panel discussion titled “The Global Chip Supply: Risks, Gaps, and Cooperation”. The session will explore how cross-border partnerships and R&D can mitigate supply risks, positioning the Middle East as an emerging player in the global semiconductor ecosystem. Panelists will include executives from imec and Analog Devices (ADI) EMEA.
The Startup Qatar initiative, launched ahead of the inaugural summit, has previously seen significant traction. Last year, the pavilion facilitated a large turnout, with over 1,600 companies registering to open offices via the QFC during the event.
U.S. government enters partial shutdown, here’s how it impacts bitcoin and ether
Crypto prices stayed under pressure on Friday as the U.S. government entered a partial shutdown after lawmakers missed a midnight funding deadline, adding another layer of uncertainty to a market that has already been struggling to find bids.
Bitcoin traded around $83,559, up about 1% on the day but down roughly 6.8% over the past week, according to the price screen.
Ether sat near $2,686, down about 1.9% in the past 24 hours and 9% on the week. XRP changed hands near $1.72, down about 1.6% on the day and close to 10% lower over seven days.
The shutdown itself looks short. The Senate passed a funding package, but the House is out until Monday, so the government still hits a technical lapse over the weekend.
That timing matters for risk assets because it lands right into thin weekend liquidity and a heavy headline cycle, which may pressure bitcoin and the broader crypto market over the weekend.
There is also a clean crypto angle here that is not just “risk off.” Prediction markets have spent the past 24 hours showing how messy the definition of “shutdown” can get.
Traders on Polymarket and Kalshi were forced to think like lawyers. The government can be “shut” on paper at 12:01 a.m. and still look normal to most people for two days. That gap between legal status and real-world impact is exactly where contract wording and settlement rules start to bite.
For crypto, the shutdown headline is more like a stress test for sentiment than a direct economic shock. It keeps traders cautious, pushes people toward smaller position sizes, and makes dips feel heavier because buyers do not want to step in front of a weekend news tape.
Silver’s 35% plunge ends up beating bitcoin in a rare crypto liquidation shock
Tokenized silver futures recorded the largest liquidations across the crypto market over the past 24 hours, overtaking bitcoin and ether in a rare reversal of the usual risk hierarchy as a pullback in precious metals spilled into commodities-based crypto futures.
According to CoinGlass data, 129,117 traders were liquidated in the past day, with total losses reaching $543.9 million.
Tokenized silver contracts led the wipeout, with roughly $142 million in liquidations tied to products tracking silver prices. Bitcoin followed with about $82 million, while ether saw nearly $139 million.
The largest single liquidation order during the period occurred on Hyperliquid, where a leveraged XYZ:SILVER-USD position worth $18.1 million was forcibly closed as prices swung sharply.
The move marks an unusual moment for crypto markets, where bitcoin and ether typically dominate liquidation tables. This time, traders using crypto rails to express macro views on metals bore the brunt of the damage.
Silver prices have been under pressure after an extraordinary rally earlier this month gave way to sharp reversals.
Hedge funds and large speculators cut bullish silver positions to a 23-month low in the week ending Jan. 27, U.S. government data showed Friday, reducing net-long exposure by 36%.
That pullback accelerated after exchanges moved to cool volatility.
CME Group said it would raise margin requirements on gold and silver futures starting Monday, lifting collateral demands by as much as 50% for some silver contracts. Higher margins tend to force leveraged traders to either add capital or exit positions, often amplifying short-term price swings.
Tokenized metals, which allow traders to gain leveraged exposure to gold, silver, and copper without using traditional futures accounts, saw heavy activity on Friday as prices turned lower. These products trade around the clock and require less upfront capital, making them attractive during fast-moving macro shifts.
Bitcoin’s presence lower on the liquidation list is notable.
While BTC prices also fell over the period, the damage was more muted compared to metals-linked products. Ether followed a similar pattern, with liquidations reflecting broader risk-off sentiment rather than a single dominant unwind.
The moves show how crypto venues are increasingly used as alternative macro trading rails. Traders are not just speculating on digital assets but are expressing views on commodities, rates, and currencies using tokenized instruments that mirror traditional markets.
Whether metals stabilize or continue to unwind may determine if tokenized commodities remain the focal point, or if crypto’s attention snaps back to its usual core assets.
MEGA Premarket Plummets Ahead of Mainnet Launch
Ethereum Layer 2 network MegaETH is slated to launch its mainnet and native token on Feb. 9.
As MegaETH, the Ethereum Layer 2 and real-time blockchain, prepares for its mainnet launch and token generation event (TGE) in February, MEGA’s pre-market valuation has plunged by 20% over the last 24 hours.
The MEGA pre-market perpetual derivative on Hyperliquid plummeted 20% today, falling as low as $0.125, or a $1.25 billion fully diluted valuation (FDV), before rebounding to its current price of $0.148.
MEGA’s pre-market valuation has been in a sustained downtrend since opening at $0.4, implying a $4 billion FDV, after the blockchain’s initial coin offering (ICO) in November.
The ICO attracted a whopping $1.4 billion in commitments for just $50 million worth of MEGA at a $1 billion valuation. However, at current prices, those who successfully contributed to the ICO are less than 50% away from break-even.
Prediction markets are also adjusting for the pre-market’s price action, with Polymarket’s odds of MEGA launching at above a $1 billion FDV falling as low as 73% today. The market traded as high as 94% on Jan. 10.
AI-Powered PR Revolution Launched by JournoLink and Greater Manchester Chamber
In a ground-breaking move set to transform how local businesses approach media exposure, Volt by JournoLink and Greater Manchester Chamber of Commerce have announced their partnership to launch ‘Chambers PR’, an innovative AI-driven PR solution for Chamber members.
This strategic collaboration comes at a time when one in three UK marketeers are already harnessing AI technologies, with an additional 24% in testing phases. The partnership aims to democratise access to sophisticated PR tools for businesses of all sizes, particularly as the AI sector contributes £5.8 billion to the UK economy.
Angus Denholm-Hay, Managing Director of Volt by JournoLink, said: “We are delighted to be partnering with GMCC to make the AI PR solutions built by JournoLink available to the businesses supported by the Chamber of Commerce. This is an important step in genuine use of quality artificial intelligence technology to boost the profiles of UK businesses.”
The initiative arrives as businesses move into 2026, offering Chamber members timely support to enhance their visibility during this pivotal period. With over 50% of UK businesses viewing AI as a crucial long-term strategic goal, ‘Chambers PR’ addresses common barriers to AI adoption by providing accessible, user-friendly solutions.
Lucy Mulligan, Executive Director of Marketing at Greater Manchester Chamber of Commerce added: “We are excited to be working with JournoLink bringing a market leading AI solution to Chamber members. Opening up the opportunity to profile their businesses through PR as they look to grow in 2026.”
Chambers PR is an online PR and Media Agency platform that looks after PR needs providing:
• A simple to use PR platform supported by an advanced, accurate and highly personalised AI model all aimed at keeping members abreast with their sector awards, events and industry news, and boost their own business profile using the media.
• Specifically designed for businesses that would value PR support but don’t have the budget for a PR or Marketing agency.
The platform is personalised for each business and provides:
• Monthly suggestions for relevant press releases
• Monthly summary of personalised events and awards
• Draft press releases written for the business
• Intelligent journalist target lists built for them
• Distribution of press releases
• Tracking analytics
• A personalised Media Room managed and hosted for the business for adding to their websites