Open banking in the UK has reached its eighth anniversary, with more than 16.5 million user connections live across the UK.
Editorial
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The milestone comes as the FCA, in a recent letter to the Prime Minister, identified open banking as a key initiative to drive national growth and unlock new use cases, particularly SME lending.
Since its launch in January 2018, open banking has evolved from a regulatory initiative, instigated under the Competition and Markets Authority’s Retail Banking Market Investigation Order 2017, into a core part of the UK’s financial infrastructure.
The open banking ecosystem now comprises 145 authorised third-party providers, with account-to-account payments growing rapidly as businesses and consumers switch from costly credit card payments to pay-by-bank options.
The infrastructure, standards and lessons developed through open banking are forming the basis for open finance, supporting new data-sharing services across areas such as pensions, investments, insurance, energy, telecoms, and housing.
Commenting on the anniversary, Henk van Hulle, CEO of Open Banking Limited, says: “In just eight years, Open Banking Limited has helped build an ecosystem that people and businesses across the UK now use as part of everyday financial life, sometimes without even realising. The UK has created something genuinely world-leading; the priority now is to put the right long-term structures in place so that advantage is protected and can continue to grow to support as many businesses and consumers as possible to better engage with, and make the most of, their finances.”
A partial draft of the Senate’s legislation shows the bill remains blank on stablecoin rewards and has some protections for decentralized finance, but they’re weaker than before.
U.S. Fed Chair Powell called out political pressure and threats from the Trump administration in a statement Sunday, weighing on global risk sentiment.
Bitcoin, alongside the wider crypto market, traded sideways on Monday, Jan. 12, amid rising political turbulence in Washington and uncertainty over U.S. monetary policy. Meanwhile, traditional safe-haven assets like gold and silver rallied sharply.
As of press time, Bitcoin (BTC) hovered near $91,400, up about 0.5% today, still down about 2.5% on the week. Total crypto market capitalization stood at roughly $3.2 trillion, also up slightly on the day.
BTC 7-day price chart. Source: CoinGecko
Ethereum (ETH) slipped 0.5% to around $3,100, also recording weekly losses of 2.5%. Despite the price stagnation, Standard Chartered analysts wrote in a research note to subscribers Monday morning that they’ve lifted their long-term ETH forecast, expecting it could reach $40,000 by the end of 2030, while the analysts forecast Bitcoin to $500,000 over the same period.
BTC and ETH price forecasts. Source: Standard Chartered
As the analysts explained, ETH could outperform thanks to continued buying from Tom Lee’s crypto treasury firm Bitmine, alongside dominance in stablecoins, tokenized real-world assets, and DeFi.
Most of the top ten cryptocurrencies are slightly down today, with the exception of Solana (SOL), up 2.2% to $142. XRP fell 0.7% to $2.07, while BNB declined 0.3% to about $903, and Dogecoin (DOGE) was flat around $0.138.
Market Absorbs Long-Held Supply
Analysts at glassnode noted in an X post today that long-term Bitcoin holder distribution has slowed, with net outflows easing from extreme levels, a sign the market may be absorbing older supply and working through overhead selling pressure.
Bitcoin long-term holder net position change. Source: glassnode
“Long-term $BTC holder distribution has decelerated. Net outflows have rolled over from extreme levels, indicating that the market is progressively absorbing long-held supply and that a large portion of overhead supply may now be largely worked through,” the analysts wrote.
Meanwhile, researchers at Keyrock said in a report today that markets continue to trade without conviction, with investors cautious ahead of macro catalysts and policy clarity, leaving positioning light across risk assets. The analysts wrote:
“With uncertainty lingering and positioning light, the upcoming earnings season may prove decisive in breaking the current stalemate and restoring directional clarity across risk assets.”
Crypto Fear and Greed Index. Source: alternativeme
As of Monday morning, the Crypto Fear & Greed Index remains in the “fear” zone after several weeks of extreme fear, indicating that investor sentiment has softened but is still cautious and the market may be undervalued.
Big Movers and Liquidations
Looking at the top-100 assets by market cap, Monero led gains, jumping over 16% and hitting a new all-time high for the first time since 2018. Tether Gold and other gold-pegged altcoins also notably edged higher today as spot gold rallied, seemingly over geopolitical and Fed independence concerns.
On the downside, POL (ex-MATIC) led losses, sliding nearly 10% and reversing last week’s rally. Cardano-linked asset Midnight (NIGHT) was the second biggest loser today, down 7%.
Volatility triggered $257 million in crypto liquidations over the past 24 hours, Coinglass data shows. Long positions accounted for about $158 million, while short liquidations totaled roughly $99 million. Bitcoin saw the largest share at $62 million, followed by Ethereum with $53 million.
ETFs and Macro Conditions
Last week, spot Bitcoin ETFs recorded net outflows of $681 million, bringing cumulative inflows to $56.4 billion, according to SoSoValue. Meanwhile, spot Ethereum ETFs saw $68.6 million in weekly net outflows, while cumulative inflows stood above $12.4 billion.
On the macro front, risk sentiment deteriorated after Federal Reserve Chair Jerome Powell disclosed on Sunday, Jan. 11, that the Justice Department had issued subpoenas linked to his past Senate testimony, framing the move as political pressure.
“I have deep respect for the rule of law and for accountability in our democracy. No one — certainly not the chair of the Federal Reserve — is above the law. But this unprecedented action should be seen in the broader context of the administration’s threats and ongoing pressure,” Powell said.
President Donald Trump denied knowledge of the investigation, saying in a brief interview with NBC News on Sunday night that Powell is “certainly not very good at the Fed, and he’s not very good at building buildings.”
U.S. stocks, bonds, and the dollar sold off Monday morning, reviving the so-called “Sell America” trade, CNN reports.
Precious metals, however, rallied sharply. Gold hit a new record high above $4,600 per ounce, while silver also reached a new all-time high of $85.70 as investors apparently seek safe harbors amid the subpoena news, as well as heightened geopolitical uncertainty globally, including escalating civil unrest and government crackdowns on protestors in Iran.
Analysts at QCP Capital said in a Monday update that near-term volatility risks “should remain elevated.” They added that markets will be sensitive to U.S. consumer price index (CPI) data set to come out tomorrow, Jan. 13, followed by the U.S. Supreme Court’s tariff ruling on Wednesday.
Bitmine Immersion Technologies expanded its Ether holdings over the past week as its chairman urged shareholders to approve a proposal that would allow the company to further build its crypto treasury and staking operations.
The company said it purchased 24,266 Ether (ETH) over the past week, lifting its total crypto holdings to about 4.17 million ETH, or 3.4% of the token’s circulating supply.
According to Monday’s announcement, the company reported about $14 billion in combined crypto and cash holdings, including $988 million in cash. In addition to ETH, it holds 193 Bitcoin (BTC) and a $23 million stake in Eightco Holdings.
Bitmine also expanded its staking activity, with about 1.26 million ETH currently staked, up 596,864 ETH from the prior week. Staking involves locking cryptocurrency to help run a blockchain network in return for yield. Bitmine is working on its own staking platform, with plans to deploy it in early 2026.
The update also brought renewed calls from Tom Lee for shareholder approval of an increase in authorized shares, which the company says is needed to support its strategy, ahead of its annual meeting scheduled for Thursday in Las Vegas.
Lee said the company’s charter requires approval from a majority of outstanding shares and warned that without additional authorization, Bitmine’s ability to continue acquiring Ether could be limited.
Bitmine shares were up 3% in early trading, according to Yahoo Finance data, while Ether (ETH) was trading near $3,100, down 3.3% over the past seven days.
Source: Yahoo Finance
Related: Ethereum treasury company BitMine crosses 1 million staked ETH milestone
Bitmine, Strategy dominate digital asset treasury companies
2025 saw a wave of digital asset treasury companies emerge, as entities adopted strategies centered on holding Bitcoin, Ether and other cryptocurrencies on their balance sheets. While hundreds of companies have entered the space with varying approaches, treasury holdings have become highly concentrated.
According to data from CoinGecko, Bitmine has established itself as the largest Ether treasury company by a wide margin, holding 4,167,768 ETH valued at nearly $13 billion, compared with Sharplink, the second-largest holder, which reports 864,840 ETH and The Ether Machine, which holds just under 500,000 ETH.
Top five Ether treasury companies. Source: CoinGecko
On the Bitcoin side, Strategy, led by Michael Saylor, continues to dwarf other corporate holders after pioneering the Bitcoin treasury model in 2020. The company holds 687,410 BTC, according to BitcoinTreasuries.NET, far ahead of Mara Holdings Inc. with 53,250 BTC and Twenty One Capital with 43,514 BTC.
Top five Bitcoin treasury companies. BitcoinTreasuries.NET
Neither company has shown any signs of slowing down. Last week, Strategy added 13,627 BTC to its balance sheet at a cost of $1.25 billion, marking its largest Bitcoin purchase since July. Bitmine has said it is targeting ownership of 5% of Ether’s total supply, or about 6 million ETH.
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I remember the exact moment I decided to quit freelancing.
It was 2 AM on a Tuesday. I was staring at my fourth cup of cold coffee, trying to finish a batch of social media graphics for a client who needed them “yesterday.” My wrist ached from hours of clicking. My eyes burned from screen glare. And somewhere between the hundredth resize and the thousandth export, I thought: this isn’t why I became a creative.
That rock-bottom moment eventually led me somewhere unexpected — to AI tools that didn’t replace my creativity but reignited it.
The Breaking Point
Let me paint the full picture.
I’d been freelancing as a graphic designer for seven years. Started fresh out of design school, full of passion and portfolio pieces I was genuinely proud of. Those early years were magical. Every project felt like an opportunity to create something meaningful.
But somewhere along the way, creativity got buried under volume.
Clients wanted more, faster, cheaper. Platforms like Fiverr and Upwork created a race to the bottom. My “design work” became less about creative problem-solving and more about production — churning out variations, resizing for platforms, making the logo bigger for the fifteenth time.
By year six, I was efficient but empty. I could produce more in a day than I used to in a week, but I couldn’t remember the last time I felt excited about a project.
Then came that 2 AM Tuesday.
The Discovery That Changed Everything
I didn’t find AI art tools while searching for them. I found them while doom-scrolling at 3 AM after deciding sleep was impossible.
Someone on Twitter had posted an image with a caption like “I made this in 30 seconds with AI and I can’t stop laughing.” The image was absurd — some kind of cyberpunk penguin in a business suit — but something about it sparked curiosity.
What if I could make images without the hours of technical execution?
I started experimenting casually. Midjourney at first, then various other tools. Most produced results that felt obviously artificial — impressive technically but emotionally hollow.
Then I discovered Nano Banana.
The difference was immediate. Where other tools created images that looked like “AI art,” Nano Banana’s outputs felt like photographs and designs that happened to not exist yet. The quality bar was just… higher.
I spent that first night generating ideas I’d never have time to execute manually. Concepts that had lived in my sketchbooks for years suddenly materialized on screen. Not perfectly — AI has limitations — but close enough that I could see the vision realized.
For the first time in months, maybe years, I felt that old spark.
From Tool to Creative Partner
Here’s what I’ve learned in the year since that discovery: AI doesn’t replace creativity. It changes where creativity happens.
Before, my creative energy went everywhere — ideation, execution, revision, technical problem-solving. Most of my actual “design time” was spent on execution. The creative part, the imagining, got compressed into whatever minutes remained.
I’ve become a better creative director of my own work. Instead of committing hours to one direction, I explore dozens of possibilities quickly. I iterate faster, fail faster, and find the good ideas sooner.
My client work improved too, ironically. I show more concepts in pitch meetings. I deliver stronger final products because I’ve explored more options. The AI handles the production; I handle the vision.
Expanding Beyond Static Images
Once I’d integrated AI image generation into my workflow, I got curious about video.
Video had always intimidated me. I’m a designer, not a motion graphics artist. After Effects felt like learning a new language, and hiring animators ate entire project budgets.
That’s when I foundWeke AI. It’s an all-in-one platform with image generation, video creation, and a bunch of specialized tools I’m still discovering.
The image-to-video feature changed what I could offer clients. Suddenly, that hero image I generated could become a short animated clip for Instagram. The product visualization could get subtle motion that made it pop in a feed. I wasn’t just designing anymore — I was creating experiences.
For someone who’d felt creatively suffocated, gaining an entirely new medium felt like learning to breathe again.
What This Means for Other Burnt-Out Creatives
I’m not naive about the concerns around AI and creative work. Will it replace designers? Will it devalue what we do? These are real questions without easy answers.
But here’s my experience: AI gave me my creativity back.
Not by doing the creative work for me — the ideas still come from my brain, informed by my years of training and experience. But by removing the parts of creative work that had become soul-crushing. The mechanical repetition. The endless production demands. The technical execution that consumed hours better spent thinking.
If you’re a creative professional feeling burned out, drowning in production work, wondering where the joy went — AI tools might be worth exploring. Not as a replacement for what you do, but as a lever that amplifies what you’re best at.
Bitcoin may reach the $94,789 level, where the bears are expected to step in.
Select major altcoins are showing strength, indicating that the recovery may continue for some more time.
Bitcoin (BTC) bulls have pushed the price above $92,000, but higher levels may attract sellers. The net outflows of $1.37 billion from BTC exchange-traded funds from Tuesday to Friday last week, according to SoSoValue data, show that institutional investors remain cautious.
Fidelity Investments director of global macro Jurrien Timmer said in a post on X that BTC is “following the internet S-curve a lot closer now than the power law curve.” He added that if BTC consolidates for the next year, then the $65,000 level “could become a do-or-die line in the sand” for BTC.
Crypto market data daily view. Source: TradingView
Irrespective of the near-term uncertainty, the world’s largest corporate BTC holder, Strategy, added 13,627 BTC to its balance sheet last week at an average price of $91,519 per coin. That boosts the company’s holdings to 687,410 BTC, acquired at an average price of $75,353 per coin.
Could BTC and the major altcoins break above their overhead resistance levels? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
S&P 500 Index price prediction
The S&P 500 Index (SPX) rallied to a new all-time high on Friday, signaling the resumption of the uptrend.
The upsloping moving averages and the relative strength index (RSI) in the positive territory indicate an advantage to buyers. There is resistance at the 7,000 level, but it is likely to be crossed. The index may then surge to 7,290.
Time is running out for the bears. They will have to yank the price below the 50-day simple moving average (SMA) (6,819) to weaken the bullish momentum. The index may then drop to the 6,720 level.
US Dollar Index price prediction
The US Dollar Index (DXY) cleared the 50-day SMA (99.06) on Friday, but the bulls could not sustain the higher levels.
The index has slipped to the 20-day exponential moving average (EMA) (98.60), which is likely to act as support. If the price rebounds off the 20-day EMA, it increases the possibility of a rally to the overhead resistance at 100.54. A close above the 100.54 level signals the start of a new up move.
Sellers are likely to have other plans. They will attempt to pull the price below the 20-day EMA. If they do that, the index may slide to the solid support at 97.74. That suggests the index may remain inside the 96.21 to 100.54 range for some more time.
Bitcoin price prediction
BTC’s pullback from the $94,789 resistance took support at the moving averages, indicating buying on dips.
The bulls will try to strengthen their position by pushing the Bitcoin price above the $94,789 level. If they succeed, the BTC/USDT pair may surge to the $100,000 level and then to $107,500. Such a move suggests the corrective phase may be over.
On the contrary, if the price turns down from $94,789 and breaks below the moving averages, it signals that the bears remain active at higher levels. That may keep the pair stuck inside the $84,000 to $94,789 range for some more time.
Ether price prediction
Ether (ETH) has turned up from the 20-day EMA ($3,088), indicating that the bulls are attempting to seize control.
A close above the resistance line tilts the advantage in favor of the buyers. The ETH/USDT pair may rally to $3,569 and later to $4,000.
On the other hand, if the price turns down from the resistance line and breaks below the moving averages, it suggests that the pair may remain inside the triangle for a few more days. The bears will gain the upper hand on a break below the support line. The Ether price may then collapse to $2,623.
XRP price prediction
Buyers are attempting to maintain XRP (XRP) above the moving averages, but the bears have kept up the pressure.
If the price dives below the moving averages, it suggests that the XRP/USDT pair may remain inside the descending channel pattern for a while longer. The $1.61 level is the crucial support to watch out for on the downside. A break and close below the $1.61 level increases the risk of a drop to the Oct. 10 low of $1.25.
Buyers will have to propel the XRP price above the downtrend line to signal a short-term trend change. The pair may soar to $2.70 and subsequently to $3.10.
BNB price prediction
BNB (BNB) has been trading inside a narrow range between the moving averages and the $928 overhead resistance.
The upsloping 20-day EMA ($887) and the RSI in the positive zone increase the likelihood of an upside breakout. If that happens, the BNB/USDT pair will complete a bullish ascending triangle pattern. The BNB price may then rally to the target objective of $1,066.
On the contrary, if the price turns down and breaks below the moving averages, it suggests that the bears are fiercely defending the $928 level. That may pull the pair down to the uptrend line and then to the $790 support.
Solana price prediction
Solana (SOL) turned up from the moving averages and has reached the $147 level, where the bears are expected to step in.
The upsloping 20-day EMA ($134) and the RSI above the 64 level suggest the path of least resistance is to the upside. A close above the $147 resistance may start a new up move to $172.
Instead, if the Solana price turns down and breaks below the moving averages, it indicates that the SOL/USDT pair may extend its stay inside the $117 to $147 range for a while longer.
Related: Ethereum set for 95% copycat rally against Bitcoin
Dogecoin price prediction
Dogecoin (DOGE) is witnessing a tough battle between the bulls and the bears at the moving averages.
The flattish moving averages and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If the price slumps below the moving averages, the DOGE/USDT pair may descend to $0.13 and then to $0.12.
On the upside, a break and close above the $0.16 resistance signals that the market has rejected the break below the $0.13 support. The Dogecoin price may rally to $0.19 and thereafter to $0.22.
Cardano price prediction
Buyers are attempting to maintain Cardano (ADA) above the moving averages, but the weak bounce heightens the risk of a breakdown.
If the price skids below the moving averages, the ADA/USDT pair may drop to $0.37 and then to $0.33. Buyers are expected to aggressively defend the $0.33 level, as a break below it may sink the pair to the Oct. 10 low of $0.27.
The first sign of strength will be a break and close above $0.44. The Cardano price may then rally to the breakdown level of $0.50, which is a critical resistance to watch out for. Buyers will have to pierce the $0.50 level to signal a comeback.
Bitcoin Cash price prediction
Buyers attempted to push Bitcoin Cash (BCH) above the $670 resistance on Sunday, but the bears held their ground.
The bears are attempting to strengthen their position by pulling the Bitcoin Cash price below the 20-day EMA ($619). If they do that, the BCH/USDT pair may tumble to the 50-day SMA ($586). Buyers are expected to defend the 50-day SMA, as a close below it suggests that the breakout above $631 may have been a bull trap. The pair may then plummet to $518.
Contrarily, if the price turns up from the moving averages and breaks above $670, it signals that buyers remain in charge. The pair may then ascend to $720, which is expected to act as a solid resistance.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
Jerome Powell described the criminal investigation as politically motivated.
Bitcoin jumped 1% on the news.
Analysts suggest it’s a terrific opportunity for Bitcoin to prove its non-sovereign status.
A version of this story appeared in The Guidance newsletter on January 12. Sign up here.
Jerome Powell, the chair of the Federal Reserve, announced on Sunday that the Department of Justice opened a criminal investigation into the central bank’s activities over renovations.
Powell added that the DOJ went as far as threatening him with a criminal indictment — and according to the 72-year-old, it’s got little to do with sprucing up the bank’s headquarters.
After all, he and US President Donald Trump have sparred throughout the year. Trump — who appointed Powell back in 2017 — has challenged Powell on several occasions over his assessment of the American economy and criticised him for failing to lower rates fast enough.
The subpoenas, however, are a serious escalation of the duel.
“The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president,” Powell said.
As for Trump, he apparently had no idea why the DOJ ramped up its investigation into the Fed and Powell.
“I don’t know anything about it,” Trump told NBC News on Monday. “He’s certainly not very good at the Fed, and he’s not good at building buildings.”
Initially, markets hardly budged.
In fact, Bitcoin, an asset that has historically traded more like a tech stock than digital gold, is up 1% today.
But experts forecast darker clouds should the Trump administration continue to encroach on the Federal Reserve’s independence.
“If things take a stronger turn for the worse, there could be a moment in which most assets get sold off,” Luke Nolan, senior research associate at CoinShares, told DL News.
There’s plenty of historical precedent for this sort of political interference.
Ahead of the 1972 election, Republican President Richard Nixon pressured the then-chair of the central bank, Arthur Burns, to print more dollars and keep interest rates low.
The result was rampant inflation during the 1970s, culminating in a recession in the early 1980s.
In Turkey, President Recep Tayyip Erdogan fired several central bank governors between 2018 and 2022 for keeping interest rates high even as inflation crept up.
The national currency, the Lira, was decimated, and inflation hit 80% in 2022.
But as a non-sovereign asset, or one that can’t be controlled by any state, Nolan also suggests that this moment is another great test for Bitcoin.
“Time will tell if this will hold true,” he said. “Should Bitcoin outperform through this narrative, it will certainly bolster the case that bitcoin can act as a flight to safety in light of geopolitical instability.”
Liam Kelly is DL News’ Berlin-based DeFi correspondent, and Eric Johansson is DL News‘ managing editor. Have a tip? Get in touch at liam@dlnews.com and eric@dlnews.com.
A new ruling freezes a state cease-and-desist order while the court considers whether Kalshi’s CFTC-regulated platform is shielded from state gambling laws.
Leverage has been flushed, and spot demand remains soft, keeping bitcoin range-bound while token unlocks and thin liquidity drive sharp, narrative-led moves in select altcoins.
