Daily Crypto Briefing – January 8, 2026

Crypto markets faced headwinds today as Bitcoin slipped below $90,000 and governance turmoil rocked the privacy coin sector. Here's what moved markets in the past 24 hours.

Top Stories

Zcash Development Team Exits En Masse

The Block reports that the entire Electric Coin Company team behind Zcash resigned following a governance dispute with Bootstrap, the protocol's nonprofit board. ZEC plunged 20% on the news, though the departing team plans to form a new company and continue development work.

Bitcoin Tests Key Support Below $90K

CoinDesk notes Bitcoin fell to $89,200 before bouncing back above $90,000. The selloff triggered over $477 million in liquidations as the early 2026 rally faded.

Polygon Eyes $100M+ Coinme Acquisition

CoinDesk sources say Polygon is paying $100-125 million for the Bitcoin ATM provider, marking a significant expansion into physical crypto infrastructure.

XRP ETFs See First Outflows Since Launch

The Block reports XRP ETFs posted $41 million in net outflows, ending an eight-week streak of inflows. The outflow was primarily driven by a $47.25 million redemption from 21Shares' TOXR fund.

Florida Revives Bitcoin Reserve Push

Decrypt reports Florida lawmakers introduced House Bill 1039 to create a strategic Bitcoin reserve, marking the third attempt after previous bills were shelved.

Regulation

• Senate Committees Schedule Key Vote: The Block reports both Agriculture and Banking committees will vote January 15 on digital asset market structure legislation
• World Liberty Financial Seeks Banking Charter: The Block notes Trump-backed DeFi protocol filed for national trust bank charter for USD1 stablecoin operations
• SEC Crypto Task Force Miami Engagement: CryptoBriefing reports SEC will engage with early-stage crypto builders in Miami
• South Korea Bitcoin Seizure Ruling: Decrypt reports Supreme Court affirmed Bitcoin on exchanges can be legally seized under criminal law

Markets

• Bitcoin ETF Outflows: CoinDesk reports Bitcoin ETFs saw $480 million in outflows amid broader market weakness
• Binance Expands to Commodities: The Block reports exchange launched USDT-settled gold and silver perpetual futures under FSRA regulation
• JPMorgan Sees Selloff Bottom: CoinDesk notes bank suggests crypto correction may be stabilizing as ETF flows normalize
• Crypto Crime Surges: The Block reports Chainalysis found illicit crypto activity hit $154 billion in 2025, up 162%

DeFi & Infrastructure

• Polygon Open Money Stack: CoinDesk reports Polygon Labs unveiled infrastructure for regulated stablecoin payments
• SharpLink ETH Deployment: CryptoNews reports firm deployed $170M in ETH on Linea for institutional yield generation
• Optimism Token Buybacks: The Block reports foundation proposes using 50% of Superchain revenue for monthly OP buybacks
• Babylon Bitcoin Lending: Bitcoin.com reports secured $15M from A16z Crypto to develop trustless Bitcoin lending protocols

Quick Hits

• BlackRock Bitcoin Accumulation: Cointelegraph reports BlackRock added $900M in Bitcoin as long-term holder selling hits 2017 lows
• Coincheck 3iQ Acquisition: Cointelegraph reports Japanese exchange to acquire Canadian asset manager for $112M
• Wyoming Stablecoin Launch: Bankless reports state becomes first to issue official stablecoin through Kraken
• Morgan Stanley Crypto ETF Filing: CryptoSlate reports bank filed for Bitcoin and Solana ETFs
• Nike Sells RTFKT: The Defiant reports sports giant sells NFT unit to unnamed buyer
• Ethereum Staking Delays: NewsBTC reports validators face multi-week wait as participation rises
• Stand With Crypto Growth: [CoinDesk reports](https://www.coindesk.com/policy/2026/01/