On January 12, 2026, Gleb Kurovskiy analyzed why hundreds of stablecoins coexist despite sharing the same $1 on-chain goal. He argues they represent different trade-offs across peg stability, decentralization and scalability, with fiat-backed, crypto-collateralized and algorithmic designs each optimizing for different risks and use cases. As stablecoins grow toward systemic scale, their liquidity management, reserve composition and integration with traditional finance could reshape how digital dollars move and where financial fragility emerges.

BitGo Holdings Inc., a crypto custody provider, has filed for an IPO on the NYSE under the ticker BTGO, aiming to raise up to $201 million. The company plans to offer roughly 11.8 million Class A shares in a price range of $15 to $17, with Goldman Sachs and Citigroup leading the underwriting. This move marks the first major crypto-related IPO since a major market adjustment in late 2025 and could reinforce BitGo's position in the regulated U.S. digital asset sector.

BitGo filed updated IPO documents with the U.S. SEC, advancing its plan to list on the New York Stock Exchange under the ticker BTGO. According to the filing, it will offer 11 million new Class A shares and 821,595 from existing holders at $15–$17, potentially raising up to $201 million and implying a roughly $1.96 billion valuation. The company first filed confidentially in September 2025.

South Korea's Financial Services Commission has set guidelines to let listed companies and professional investors trade cryptocurrencies, with corporate exposure capped at up to 5% of equity annually. Final guidance is due between January and February, with implementation tied to the Digital Asset Basic Act in Q1 2025 and market participation targeted by end‑2026.

COIN traded near $247.26, up 2.69% on the day but about 44% below its all‑time high. According to Google Trends, search interest in Coinbase and crypto has fallen to a five‑year low. DeFi Llama and Nansen show Base volumes, transactions, fees, and active users dropping, while earnings are slated for February 25 with consensus forecasting lower revenue and EPS.

On Jan. 12, BitGo Holdings outlined plans for a 2026 IPO targeting up to a $1.96 billion valuation, with 11.8 million shares priced at $15–$17 to raise as much as $201 million. According to its SEC filing, Goldman Sachs will lead underwriting with Citigroup also managing, and the company intends to list on the NYSE as BTGO.

Bernstein’s latest report warns that political and industry tensions over stablecoin yields are compressing the timeframe for passing the U.S. Crypto Market Structure Act, which must advance by Q2 2026 to avoid prolonged delays. The dispute between banks and crypto firms over interest-like returns on stablecoins threatens to slow legislation impacting a stablecoin market already valued at about $275 billion, with future trillion-dollar potential at stake.

Standard Chartered is planning to establish a crypto prime brokerage within its wholly owned venture arm SC Ventures, according to people familiar with the matter. The initiative is still at an early discussion stage with no confirmed launch date, and would build on the bank's existing digital asset projects and institutional spot crypto trading services. The bank is also working with Bank Malaysia and AirAsia parent Capital A to explore a ringgit-pegged stablecoin under Malaysia's Digital Asset Innovation Hub framework.