Crypto Daily | Bitcoin Surpasses $92,000; Maduro’s Crypto-Backed Oil Deals Put Tether at Center of Venezuela Money Drama

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Bitcoin(BTC) Surpasses $92,000 with a 1.52% Increase in 24 Hours

Bitcoin has crossed the $92,000 benchmark and is now trading at $92,172, with a narrowed 1.52% increase in 24 hours.

Ethereum(ETH) Surpasses $3,100 with a Narrowed 2.19% Increase in 24 Hours

Ethereum has crossed the $3,100 and is now trading at $3,160, with a narrowed 2.19% increase in 24 hours.

Maduro’s Crypto-Backed Oil Deals Put Tether at Center of Venezuela Money Drama

Nicolás Maduro helped make tether the world’s dominant stablecoin. And with the former Venezuelan leader now sitting in a Brooklyn jail, the cryptocurrency’s central role in his nation’s economy is back in the spotlight.

Tether emerged as a vital tool for the state-run oil company to sidestep sanctions, serving as the currency for settling oil transactions. It also has offered a financial lifeline to everyday Venezuelans racked by the tumbling value of their home currency, the bolivar. Like most popular stablecoins, tether maintains a one-to-one peg to the U.S. dollar.

Coinbase Ups Pressure as Crypto Bill Moves to Senate Markup

Coinbase Global, Inc. is escalating pressure on US lawmakers to preserve its ability to offer rewards to customers who hold stablecoins — an offering the company sees at risk if certain restrictions under discussion make it into a major crypto bill set to be unveiled Monday.

The largest US crypto exchange may reconsider its support for the digital-asset market-structure bill — scheduled for markup in at least one Senate committee on Thursday — if the text includes anything beyond enhanced disclosure requirements tied to rewards, according to a person familiar with the firm’s thinking.

Walmart-Backed ‘Super App’ OnePay Hits $4 Billion Valuation

OnePay, the Wal-Mart Inc.-backed fintech firm behind the “super app” that the world’s largest retailer is incorporating for customers, recently bought back shares from employees at a price that values the closely-held company at more than $4 billion, according to a person with knowledge of the matter.

That’s an increase from the $2.5 billion valuation it secured in 2024 after a $300 million investment round, which was led by Walmart and the investment firm Ribbit Capital, Bloomberg reported at the time. The New York-based company, formally known as One Finance Inc., declined to comment on the latest valuation.

Stablecoin Firm Rain Valued at $1.95 Billion After Funding Round

Stablecoin payments firm Rain said it raised $250 million in a funding round that gives it a valuation of $1.95 billion.

The round was led by ICONIQ with participation from Sapphire Ventures, Dragonfly, Bessemer, Lightspeed and Galaxy Ventures, among others, Rain Co-Founder and Chief Executive Officer Farooq Malik told Bloomberg. It brings the company’s total funding to more than $338 million, he said.

Rain plans to use the capital to expand its presence in markets across North and South America, Europe, Asia and Africa, Malik told Bloomberg in an interview. It will also use the funds to help it adapt to a rapidly changing global regulatory environment, he said.

Prediction Markets Draw Scrutiny After Lucrative Maduro Wager

Prediction markets, where users bet on the likelihood of future events, are facing renewed scrutiny after a trader made more than $400,000 wagering on the removal of Venezuela’s former leader Nicolás Maduro, just hours before his capture was announced, the Associated Press reported Sunday.

The winning trades were placed on Polymarket, fueling online speculation about whether the timing reflected insider knowledge. Others argued the bets could have stemmed from earlier public speculation about Maduro’s political fate. Polymarket declined to comment to the AP.

Bitmine Immersion Technologies Appoints Young Kim as CFO, COO

BitMine Immersion Technologies Inc. appointed Young Kim as chief financial officer, chief operating officer, and a member of its board of directors, effective immediately.

Kim brings over 20 years of investment experience, including senior portfolio management roles at Axiom Investors (2021–2025) and Columbia Threadneedle Investments (2011–2021).

Bitcoin Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF last Friday was $249.99 million. The total net asset value of Bitcoin spot ETFs is $116.86 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.48%.

The Bitcoin spot ETF with the highest net outflow on Jan. 9 was iShares Bitcoin Trust ETF, with a net outflow of $251.97 million. Followed by Bitwise Bitcoin ETF, with a net outflow of 5.89 million, according to SoSoValue.

SoSoValue