The crypto market has been quite active these days. First, regarding regulation, the U.S. Senate Banking Committee and Agriculture Committee plan to vote on legislation related to the structure of the crypto market on January 15th, which is a significant signal for the entire industry.

There has also been progress in institutional custody. An entity under WLFI is applying for a national trust bank license from the Office of the Comptroller of the Currency (OCC), aiming to directly issue and custody USD stablecoins, while expanding institutional custody and stablecoin exchange services. Additionally, the Wyoming Stablecoin Committee has approved Kraken to open a purchasing channel for the stablecoin FRNT to the public.

In terms of projects, things are moving quickly. Aave’s Horizon RWA lending market deposit net has exceeded $600 million, and Morph has invested $150 million to push forward its payment accelerator plan, aiming to scale real payment systems on-chain. The Solana ecosystem’s native token SKR is scheduled to be released on January 21st, which is also a noteworthy date.

Market-wise, recent performance has weakened. BTC once dropped below $91,000, and ETH and SOL also pulled back. The latest reserve proof from a leading exchange, Issue 38, shows that as of January 1st, user holdings are 618K BTC, 4.17M ETH, and 38.2B USDT, reflecting the current market conditions.