Gold jumped 4.4% on Wednesday, adding about $1.65 trillion to its market value and setting a record above $5,500 with a total cap of $38.77 trillion. The single-day gain nearly equaled Bitcoin's $1.75 trillion market cap, while over five years gold has risen 173% versus Bitcoin's 164%. Bitcoin traded down during the move.

On January 29, 2026, President Donald Trump and Senate Minority Leader Chuck Schumer met in Washington to head off a U.S. government shutdown before the January 31 deadline. According to Polymarket, bettors now assign a 40% chance of a shutdown. Discussions reportedly center on separating Department of Homeland Security funding and considering short‑term appropriations to maintain operations.

Russia plans to finalize a national cryptocurrency regulatory framework for a vote at the end of June, with implementation targeted for July 1, 2027. The rules would open the market to both qualified and non-qualified investors, cap annual purchases of the most liquid coins for retail participants, and keep a domestic payments ban and licensing obligations for service providers in place.

In April 2025, Deputy Attorney General Todd Blanche dissolved the Department of Justice's National Cryptocurrency Enforcement Team, a move now contested by six U.S. Senators including Elizabeth Warren. They warn that shutting down the 2021-formed unit, which focused on money laundering and crypto-enabled crime, could heighten illicit digital asset activity and raises concerns about Blanche's personal crypto holdings.

Gold set a fresh record above $5,600 per ounce after a 4% rally that followed a 4.6% surge the prior session, extending weekly gains to over 10%. Spot prices are up 28% year to date, with silver nearly 65%. Bitcoin fell to $88,000 as ETH slipped below $3,000 and SOL declined more than 3%.

Coinbase has introduced prediction markets across all 50 U.S. states through a partnership with Kalshi, extending its services beyond conventional crypto trading. The rollout, announced in a Wednesday X post, allows users to trade contracts on real-world outcomes in areas such as sports, politics, and culture. This move supports Coinbase's long-term plan to develop an "everything exchange" that includes multiple asset classes within one platform.

On Jan. 28, six US senators sent a letter questioning Deputy Attorney General Todd Blanche's 2025 decision to disband the Department of Justice's national cryptocurrency enforcement team. They highlighted his then-crypto holdings, alleged conflict of interest, and a reported surge in illicit cryptocurrency activity in 2025 to argue the unit should not have been shut down.

Bitcoin is edging toward $90,000 as the US dollar posts its sharpest decline in years and the dollar index hovers near 96, a level linked to earlier crypto bull runs. With the greenback at its weakest since 2022 and policy signals from President Trump and Treasury Secretary Scott Bessent pulling FX markets in different directions, traders are watching whether sustained dollar weakness can reinforce recent gains in Bitcoin and Ethereum.