Bitcoin Loses Global Spot as Hackers Win Big in January
Welcome to another edition of your favorite weekly news round-up!
For this week’s starter, Bitcoin just got demoted from the elite top 10 assets club, going all the way down to lucky number 13, and guess who’s ahead of us now? You know that Tesla that accepts Doge as payment? Yeah, that one. Who would think that the king of coins would be getting outranked and humbled by Elon’s car company?
And if that isn’t enough for one week, two UK exchanges got nuked off the map for being too nice with Iran, and apparently someone in the UAE thought dropping $500M on a Trump crypto venture was a solid move. Meanwhile, hackers had themselves a field day in January, making off with nearly $400M. Just another month in crypto.
Here are the Highlights:
- Bitcoin falls out of global top 10 assets by market capitalization, below Elon Musk's Tesla
- US Sanctions UK Crypto Exchanges Amid Iran-Related Woes
- Huge Shock as UAE Firm Buys Secret $500M Stake in Trump Crypto Firm
- Crypto Theft Hit Nearly $400 Million in January 2026
Bitcoin Falls Out of Global Top 10 Assets by Market Capitalization, Below Elon Musk’s Tesla
Bitcoin’s market capitalization is now around $1.57 trillion, making it the 13th-largest asset by this metric, behind Saudi Aramco and Tesla stock. The move came after its price dropped sharply from around $90,000 to $78,500, a loss of more than 11% over the last 7-day period. The recent price decline comes amid geopolitical tension, a breakdown in the precious metals rally, the nomination of a "Hawkish" next Federal Reserve chair and a partial government shutdown. Bitcoin falling out of the top 10 assets by market cap is significant because, in recent years, it remained in the list as prices stayed elevated.
US Sanctions UK Crypto Exchanges Amid Iran-Related Woes
The US Treasury has taken the unprecedented step of blacklisting two UK-registered cryptocurrency exchanges for processing funds linked to Iran’s Islamic Revolutionary Guard Corps (IRGC). It marks the first time entire digital asset platforms have been sanctioned under Iran-specific financial measures.m On January 30, 2026, the Office of Foreign Assets Control (OFAC) designated Zedcex Exchange Ltd. and Zedxion Exchange Ltd., citing their role in facilitating nearly $1 billion in IRGC-related transactions, primarily through Tether (USDT) on the Tron network.
Huge Shock as UAE Firm Buys Secret $500M Stake in Trump Crypto Firm
A UAE-backed investment vehicle reportedly bought a 49% stake in the Trump-linked crypto startup World Liberty Financial for $500M just before Trump returned to the White House in January 2025. A year on from this investment, we take a look at what effect it has had on World Liberty Financial and the broader Trump-linked crypto ecosystem. It also comes at a time when global funds are pushing deeper into DeFi and the broader crypto space, betting that continued friendlier US policy will unlock more growth.
Crypto Theft Hit Nearly $400 Million in January 2026
The crypto industry’s security challenges reached a critical point in January 2026. A surge in sophisticated phishing attacks and treasury breaches drained roughly $400 million from the ecosystem. Data from blockchain security firm CertiK shows that 40 recorded incidents cost the crypto industry approximately $370.3 million. However, that figure climbs to over $400.3 million when accounting for a $30 million exploit of the Solana-based platform Step Finance on January 31. CertiK reported that a singular, devastating social engineering scam, rather than complex protocol hacks, defined the month.
Other Highlights Worth Mentioning
Changpeng Zhao rejects claims Binance worsened crypto market crash - Cointelegraph
Bitcoin briefly falls near $74,000 as thin liquidity keeps traders on edge - Coindesk
India Faces Pressure to Rethink Crypto Taxes Ahead of Union Budget as Trading Shifts Offshore - Decrypt
Justin Sun Hit by Explosive Market Manipulation Claims as Alleged Ex-Girlfriend Offers Evidence to SEC - Be In Crypto
COINIGY FACT OF THE DAY
On this day in 2018, Bitcoin Falls Below $8,000, signalling the 2018 Crypto Bear Market.
On this day in 2018, Bitcoin’s price plunged below $8,000 for the first time since November 2017, intensifying fears that the euphoric bull run of late 2017 had officially ended. The drop came just days after BTC had already broken below the $9,000 level, accelerating a broader market sell-off across cryptocurrencies. This sharp decline triggered a significant contraction in total crypto market capitalization, wiping out hundreds of billions of dollars in value in a matter of weeks.
COINIGY MEME OF THE WEEK
