Crypto Markets Rally as ETF Cash Floods In Before Key Senate Vote

Bitcoin hit $95,000 Monday. The surge came as exchange-traded funds saw their biggest cash inflow in three months, pushing crypto prices sharply higher across the board.

Ethereum jumped 6% to $3,313 while Bitcoin gained 3% in what traders called a clear sign that institutional money is flowing back into digital assets. Binance Coin and Solana also posted solid gains as the broader crypto market shook off recent weakness. ETF managers reported heavy buying from pension funds and wealth advisors who had been sitting on the sidelines for weeks. “We’re seeing real demand again,” said one fund manager who didn’t want to be named. The inflows marked the strongest three-day stretch since October, when Bitcoin first crossed $90,000.

Things get interesting January 27.

A Senate committee votes on a crypto bill that’s got Washington buzzing, especially the parts about stablecoin rules. Nobody’s quite sure how it’ll play out, but the crypto lobby has been working overtime to shape the language. Industry sources say the stablecoin provisions remain the biggest sticking point, with banks and tech companies pushing different approaches.

And there’s plenty more happening beyond the regulatory drama.

Ethena Labs dropped a bombshell by killing gas fees for its USDe token completely. The move caught competitors off guard and sparked immediate speculation about whether other stablecoin issuers would follow suit. “It’s a pretty aggressive play,” one DeFi analyst said. “They’re basically betting they can make up the revenue elsewhere.” The announcement sent USDe trading volume up 40% within hours as traders tested the new fee structure.

Meanwhile, Bitdeer just overtook Marathon Digital in managed hashrate. That’s a big shift in the mining world that nobody saw coming six months ago.

The company’s been quietly building capacity while Marathon dealt with equipment delays and regulatory headaches. Bitdeer’s hashrate now tops 25 exahashes per second, compared to Marathon’s 23.5. “We focused on execution while others focused on headlines,” Bitdeer’s CEO told investors last week. The milestone puts Bitdeer in the top three Bitcoin mining operations globally and sets up what could be a fierce competition for market share in 2025.

Polygon Labs is writing a $250 million check to buy Coinme and Sequence. The deal gives Polygon a direct path into retail crypto services and enterprise blockchain tools, areas where it’s been playing catch-up to competitors like Solana and Avalanche.

Coinme operates thousands of crypto ATMs across the US, while Sequence builds wallet infrastructure for gaming companies. “We’re not just buying technology, we’re buying distribution,” a Polygon executive said. The acquisition should close by March, pending regulatory approval.

BitPanda wants to go public.

The Austrian exchange plans a Frankfurt IPO for the first half of 2026, betting that European investors are ready to back a homegrown crypto platform. BitPanda has been profitable for two years running and serves over 4 million customers across Europe. Investment bankers estimate the company could be worth $2 billion at IPO, though that depends heavily on market conditions and regulatory clarity by then.

Binance’s Changpeng Zhao is backing Genius Terminal, a new perpetual trading platform that promises faster execution and lower fees. CZ’s involvement pretty much guarantees the project will get serious attention from traders looking for alternatives to existing derivatives platforms. “The perpetual market needs more competition,” Zhao said in a statement. Genius Terminal plans to launch with 50+ trading pairs and leverage up to 100x, though regulators in several countries are already asking questions about such high leverage offerings.

Coingecko thinks it’s worth $500 million. The data company is shopping itself to potential buyers, including some traditional financial firms that want exposure to crypto analytics. Coingecko tracks over 15,000 cryptocurrencies and generates revenue from API subscriptions and advertising. Sources close to the process say several bidders are interested, though the final valuation could end up lower if crypto markets cool off.

Russia is opening its crypto markets wider for payments, a move that could reshape how digital currencies get used in everyday transactions there.

The policy shift comes as Russian officials look for ways to work around international sanctions and modernize their financial system. Details remain murky, but the plan reportedly includes allowing crypto payments for certain goods and services. “It’s a significant change in approach,” said one Moscow-based crypto executive. Western governments are watching closely to see how the new rules might affect global crypto flows.

Security problems persist in France, where crypto wrench attacks keep happening despite police efforts to crack down. The attacks typically target known crypto holders who get forced to transfer their digital assets under physical threat. French authorities arrested 12 people last month in connection with such attacks, but new cases keep popping up. “It’s becoming a real problem for anyone who’s publicly associated with crypto,” one Paris-based investor said.

Pakistan announced plans to integrate WLFI’s USD1 into its financial system, though specifics weren’t provided. The move signals Pakistan’s growing interest in digital payment solutions as it tries to modernize banking infrastructure and reduce reliance on cash transactions.

The Senate crypto bill has drawn fierce lobbying from major players including Coinbase, Circle, and Tether, each pushing for regulatory frameworks that favor their business models. Traditional banks like JPMorgan and Bank of America have also weighed in, arguing for stricter reserve requirements that could give them advantages over pure-play crypto firms. Industry spending on Washington lobbying hit $18.4 million last quarter, up 60% from the same period last year.

Ethena’s gas fee elimination puts pressure on Tether and Circle, which generate hundreds of millions annually from transaction fees on their USDT and USDC tokens respectively. Market analysts estimate Tether earned roughly $400 million from fees in 2024, making Ethena’s zero-fee model a direct challenge to established revenue streams. Several smaller stablecoin projects are already exploring similar fee structures, potentially triggering a broader price war in the $180 billion stablecoin market.