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Crypto Market Recovers Following Trump's Shift on Tariffs
The cryptocurrency market is recovering with Bitcoin and Ethereum gaining after Trump's tariff policy shift. BitGo announces a $2B IPO while regulatory changes unfold.
Mercation Admin
January 22, 2026 1 min read
The cryptocurrency market is experiencing a resurgence as major coins show positive gains after former President Trump altered his stance on EU tariffs. Bitcoin has risen by 2% to reach $89,900, while Ethereum also gained 2%, trading at $2,995. Solana saw a similar increase of 2%, now priced at $130, and XRP jumped 3% to $1.94. Notable performers include Chainlink (CC) with a 15% increase, Sky (SKY) up by 11%, and Sandbox (SAND) climbing 10%. This rebound comes on the heels of over $1 billion in liquidations as Bitcoin experienced a significant bounce back following Trump's indication of a withdrawal from proposed tariff actions.
In other developments, Vitalik Buterin has suggested implementing native DVT staking to enhance the security and decentralization of Ethereum, highlighting the ongoing experimentation at the protocol level. BitGo has announced its plans for an IPO, pricing shares at $18 each, which places its valuation at approximately $2 billion.
Meanwhile, the Senate Agriculture Committee has confirmed that its version of the Clarity Act will proceed to markup next week, despite a lack of bipartisan support. In an innovative move, mortgage lender Newrez is considering allowing Bitcoin and Ethereum to count towards mortgage qualification, applying discounted valuations to account for the inherent volatility of cryptocurrencies.
In regulatory news, authorities in Hong Kong are set to issue stablecoin licenses under a new regulatory framework that will enforce stringent compliance, reserve, and operational standards. Additionally, a ruling from Russian courts has established that cryptocurrencies are recognized as property under the law, setting a significant precedent for future legal matters involving digital assets.
Trump also expressed optimism about signing the crypto market structure bill soon, despite facing legislative hurdles and disagreements regarding the scope of regulation. In cybersecurity, Saga’s EVM blockchain has suspended its operations following a $7 million hack, with the stolen assets bridged to Ethereum. Lastly, Steak ’n Shake has introduced a Bitcoin bonus program for its hourly employees, enabling them to receive a portion of their pay in BTC.