Attorney Jake Chervinsky posted on the X platform that Congress's passage of the GENIUS Act, which bans yield-based stablecoins, has already handed over huge profits to banks. The policy lacked any rationale from the outset and has stifled an entire class of innovative crypto products. He opposes the banks' current attempts to further disrupt the market structure.

Solana's mobile Seeker official account announced on the X platform that the first Seeker Season has successfully concluded, generating over 265 dApps, 9 million transactions, a trading volume of $2.6 billion, and participation from over 100,000 explorers. The next step: the SKR token will launch on January 21st (UTC). A snapshot has been completed, and 20% of the SKR supply has been reserved for airdrops to users and developers. Season 2 is now open, and more information will be released tomorrow. SKR is expected to launch at 2:00 AM UTC on January 21st (equivalent to 9:00 PM Eastern Time on January 20th).

According to BlockBeats, on January 8, U.S. law firm Burwick Law announced progress in a lawsuit, stating that the plaintiff has filed a revised complaint in federal court. The complaint accuses Baton Corp, the operator of PumpFun, along with Solana Foundation, Solana Labs, and several executives, of violating the Racketeer Influenced and Corrupt Organizations Act (RICO).

According to ChainCatcher, Brazilian presidential candidate and founder of the Missão Party, Renan Santos, recently expressed on a podcast that Brazil should consider establishing a national Bitcoin reserve, stating that the proposal is feasible in reality. He noted that some countries have begun exploring similar approaches, suggesting that Brazil could gradually develop a Bitcoin reserve system. Renan Santos mentioned that his campaign platform includes content related to Bitcoin and believes blockchain technology can serve as a tool to enhance transparency and combat corruption in the public sector. Previously, the Brazilian Congress held public hearings on the strategic Bitcoin reserve topic, with discussions initiated by pro-crypto legislators. The Brazilian presidential election is scheduled for October this year.

According to PANews, OpenAI has unveiled a new health-focused feature called 'ChatGPT Health.' This service allows users to voluntarily connect their medical records with health applications like Apple Health and MyFitnessPal to receive personalized advice based on their health data. The feature aims to assist users in understanding test results, preparing for medical appointments, and optimizing diet and exercise plans. It ensures privacy by storing health data in a separate space. A waitlist is now open, with initial access limited to a small group of users.

Several crypto industry executives and advocacy groups have warned that amending the GENIUS Act, the regulatory framework for stablecoins, as demanded by the banking industry, to restrict the provision of yields to stablecoin holders through third parties could weaken the United States' competitiveness in the global financial system and even constitute a "national security trap." Pro-crypto lawyer John Deaton stated that banning stablecoin yield mechanisms could actually incentivize the market to shift towards China's interest-bearing digital yuan, thereby weakening the dollar's status. The crypto industry organization Blockchain Association pointed out that there is currently no evidence that the development of stablecoins will undermine the traditional banking system; such amendments are more likely a competitive obstruction by large banks after an existing bipartisan consensus has been reached. Alexander Grieve, Vice President of Government Affairs at Paradigm, also warned that overturning existing incentive arrangements would waste legislative progress. Meanwhile, Galaxy Digital CEO Mike Novogratz stated bluntly that it would be a mistake for the United States to withdraw relevant rules due to industry pressure. (Cointelegraph)

Alexander Grieve, Vice President of Government Affairs at Paradigm, pointed out in an article that some bank lobbying groups are pushing to tighten the existing provisions of the GENIUS Act regarding stablecoin rewards in crypto market structure legislation, attempting to limit stablecoin rewards to "merchant-oriented transactions." This approach is economically illogical. Grieve stated that comparing stablecoins to credit card products is a regulatory misalignment. Stablecoins are essentially "debit-like" instruments; their core revenue source is not transaction fees, but the continuous returns generated by reserve assets (such as US Treasury bonds) during the holding period. Their value is related to the asset size, not the frequency of transactions. Allowing rewards to be distributed to users only in consumption scenarios is equivalent to imposing an "implicit holding tax" on stablecoin holdings, causing the returns to be retained by intermediaries. He pointed out that this move is not only detrimental to individual and corporate users, but may also weaken the international competitiveness of the US stablecoin ecosystem, prompting funds and businesses to flow overseas. Grieve emphasized that the economic mechanism of stablecoins should be designed around the characteristic of "value generation through holding," otherwise it will undermine the original legislative intent of the GENIUS Act to promote innovation.

The new feature lets users link medical records, while OpenAI emphasized encryption, data separation, and limits on health advice. source: https://decrypt.co/353919/openai-users-medical-data-ai-chatgpt-privacy-concerns

Brazilian presidential candidate and founder of the Missão party, Renan Santos, recently stated on a podcast that Brazil should consider establishing a national Bitcoin reserve, calling the proposal "realistically feasible." He pointed out that some countries have already begun exploring similar approaches, and Brazil could gradually build a Bitcoin reserve system. Santos stated that his campaign platform already includes Bitcoin-related content and believes that blockchain technology can serve as a tool for improving transparency and combating corruption in the public sector. Previously, the Brazilian Congress held public hearings on the issue of a strategic Bitcoin reserve, with discussions initiated by pro-crypto lawmakers. The Brazilian presidential election will be held this October. (DL News)

According to Odaily, the Senate Agriculture Committee is scheduled to hold a hearing on the structure of the cryptocurrency market on January 15. This hearing coincides with a similar session planned by the Banking Committee on the same day.

The Democrats have a 79% chance of regaining control of the U.S. House of Representatives in 2026!

The Crypto Asset Reporting Framework (CARF), developed by the Organization for Economic Cooperation and Development (OECD), aims to combat cryptocurrency tax evasion globally.

Jinse Finance launches its daily cryptocurrency and blockchain news bulletin, "Jinse at 8 AM," issue 2930, providing you with the latest and fastest news on the digital currency and blockchain industry.

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