Editor's Note: After experiencing continuous fluctuations, last week, cryptocurrency concept stocks saw a phase of broad gains, with BTC treasury companies represented by Strategy seeing their stock prices recover. Although there is still a considerable distance from the peak positions, signs of a rebound have emerged. Meanwhile, the main influencing factors in the market are gradually focusing on the nomination of the new Federal Reserve chairman, expectations for interest rate cuts by the Federal Reserve, and the progress of the U.S. CLARITY cryptocurrency bill. Considering the overall market situation, cryptocurrency concept stocks will continue to face pressure, and it is recommended to maintain the previous "short-term rebound speculation" strategy to avoid full-position bets.
The following is a summary of last week's cryptocurrency stock market information compiled by Odaily Planet Daily, all U.S. stock data comes from msx.com.
Overview of Main Influencing Factors on Cryptocurrency Concept Stocks
Trump's Abandonment of Hassett Leads to Significant Reduction in Federal Reserve Rate Cut Expectations
Due to Trump's indication that he would nominate someone other than National Economic Council Director Hassett to replace Powell, U.S. Treasury prices fell, and traders reduced expectations for two rate cuts in 2026. The decline in U.S. Treasury bonds pushed the two-year yield up by 5 basis points to 3.61%, the highest level since the Federal Reserve's last rate cut in December. After Trump's comments on Hassett, short-term interest rate contracts reflected a decrease in the probability of the Federal Reserve making two 25 basis point cuts this year. Meanwhile, the Treasury market continues to be troubled by the December employment data released a week ago, prompting Wall Street banks that previously predicted a rate cut at the Federal Reserve's next meeting on January 28 to abandon that view. Morgan inflation economist predicts that despite the leadership changes at the Federal Reserve, there will be no further rate cuts. John Fath, managing partner of BTG Pactual Asset Management in the U.S., stated, "The previous trades were betting that whoever becomes the next Federal Reserve chairman would be dovish. This situation has reversed in the past few days."
Divergence in the Cryptocurrency Industry's Position on Market Structure Bill: a16z, Ripple, etc., Oppose Coinbase's Stance
Coinbase CEO Brian Armstrong previously stated that he plans to withdraw support for the cryptocurrency market structure bill (CLARITY), saying he "would rather have no bill than a bad bill." However, several major industry participants oppose Coinbase's stance. Kraken CEO Arjun Sethi stated that outstanding issues should be resolved through negotiation rather than abandoning years of bipartisan progress. a16z managing partner Chris Dixon, Ripple CEO Brad Garlinghouse, and White House AI and cryptocurrency special advisor David Sacks also expressed similar views, urging all parties to resolve their differences by the end of the month. Seth Hertlein, global policy head at Ledger, pointed out that it is hard to imagine whether there will be such a favorable environment in the future, and the industry generally feels that if legislation is not completed now, it will either be impossible to achieve in the future or will be conducted under very unfavorable conditions. The cryptocurrency industry does not want the availability of software or the rights to publish content to change with each government transition.
In addition, the New York Stock Exchange plans to open 24/7 trading for stock tokenization and launch an on-chain settlement platform, which may have a certain impact on cryptocurrency concept stocks, and related concept stocks may rise due to this positive news. For more details, please read “The New York Stock Exchange Plans to Launch 24/7 Stock Tokenization Trading, Competitors Are Confused” and “The New York Stock Exchange Launches 24/7 Coin-Stock Trading, Which Cryptocurrency Businesses Will Benefit or Suffer?”.
Weekly Updates on Cryptocurrency Stock Listed Companies
Representative Companies of BTC Treasury Listed Companies
Vanguard's U.S. Mid-Cap Index Fund Purchases Strategy Stock for the First Time
Vanguard's U.S. Mid-Cap Index Fund Vanguard Group Mid-Cap Index Fund Institutional Shares (VMCIX) disclosed its first purchase of Strategy stock, reportedly buying 2.91 million shares worth approximately $505 million.
Additionally, Strategy announced that it will release its financial performance report for the fourth quarter of 2025 after the U.S. financial markets close on February 5, 2026 (Thursday) and will hold an online meeting at 5:00 PM Eastern Time to discuss performance. Currently, the company holds 687,410 bitcoins, with a holding market value of approximately $66.47 billion.
On January 16, Nasdaq-listed Bitcoin financial services company Strive announced the completion of its acquisition of Semler Scientific. The merged company now holds a total of 12,797.9 bitcoins, making it the 11th largest public company globally by BTC holdings. The company also announced the appointment of Avik Roy as Chief Strategy Officer, while former Semler Scientific Chairman Eric Semler joins Strive as an independent director, and Bitcoin Strategy Director Joe Burnett serves as Strive's Vice President of Bitcoin Strategy.
Steak'n Shake Acquires $10 Million in Bitcoin, Advancing Corporate BTC Treasury Strategy
U.S. fast-food chain Steak ‘n Shake announced that it has allocated $10 million to Bitcoin this week, officially incorporating BTC into its balance sheet. This move continues its strategy of accepting Bitcoin payments in stores across the U.S. for the past eight months.
The company stated that this decision is part of its so-called "self-reinforcing cycle": consumers using Bitcoin for payments drive sales growth, and the related revenue is continuously reinvested into the company's Bitcoin reserves (SBR), thereby providing funding for operational investments such as ingredient upgrades and store renovations, without raising menu prices.
Since May 2025, Steak'n Shake has accepted Bitcoin payments through the Lightning Network in all its U.S. stores, aiming to reduce credit card processing fees and attract a younger cryptocurrency user base. The company disclosed that same-store sales in the second quarter of 2025 increased by over 10% year-on-year, and when customers choose to pay with Bitcoin, payment processing fees can be saved by approximately 50%.
On January 16, U.S. listed company DDC Enterprise Limited announced the completion of its first Bitcoin purchase in 2026, adding 200 BTC. After the transaction, DDC's total Bitcoin holdings increased to 1,383 BTC.
The announcement showed that DDC's current average Bitcoin holding cost is approximately $88,998, with a phase Bitcoin yield of 16.9%, corresponding to about 0.046482 BTC for every 1,000 shares of DDC stock. The company stated that this purchase continues its prudent and disciplined capital allocation strategy and views Bitcoin as a strategic reserve asset aligned with long-term value creation.
Representative Companies of ETH Treasury Listed Companies
BitMine Total Staked Over 1.77 Million ETH, Total Value $5.65 Billion
According to OnchainLens monitoring, BitMine recently staked an additional 86,848 ETH, valued at $279.4 million. Currently, its total staked amount has reached 1,771,936 ETH, with a total value of $5.65 billion. Last week, BitMine purchased 24,068 ETH (worth $80.57 million) through FalconX.
On January 17, Bitmine Chairman Tom Lee announced at a recent shareholders' meeting that the company is about to launch an app, although no further details have been disclosed. However, based on shareholder reactions, there seems to be dissatisfaction with this move and a belief that there is no need to invest heavily in the app. Additionally, Tom Lee revealed that Bitmine no longer wishes to play a single role as an Ethereum yield tool but is considering positioning itself as a Berkshire Hathaway-style holding company in the digital economy, where Ethereum will become the foundational layer providing cash flow and capital allocation, thereby driving the next phase of growth.
Furthermore, on January 15, Beast Industries announced the completion of $200 million financing, led by BitMine. The project's main business is media and consumer holdings, covering content production, consumer brands Feastables, MrBeast Burger, and commercial investments.
BitMine has announced that it has agreed to invest $200 million in Beast Industries, a media and consumer holding company founded by YouTube creator MrBeast. BitMine currently holds over 4 million ETH, valued at approximately $13 billion, making it the largest Ethereum treasury holder in the world. Beast Industries CEO Jeff Housenbold stated that the funds will be used to support growth plans and explore the integration of decentralized finance features in future financial service products. The transaction is expected to be completed around January 19.
FG Nexus, a treasury company holding $120 million in ETH, Sells 2,500 ETH
On-chain analyst Yu Jin monitored that the Ethereum treasury company FG Nexus (fg-nexus) sold 2,500 ETH on January 20, valued at $8.04 million. FG Nexus had previously accumulated 50,770 ETH at an average price of $3,944 between August and September last year, valued at $200 million. As the price of ETH declined, the company has since reduced its holdings by 13,475 ETH at a price of $3,089, realizing a loss of $11.52 million. Currently, FG Nexus still holds 37,594 ETH, valued at $120 million. The company's mNAV is 0.84, with its stock market value below the value of its held ETH.
Representative Companies of SOL Treasury Listed Companies
SOL Treasury Company Sharps Technology Reaches 90-Day Stock Lock-Up Agreement with SOL Markets
According to Globenewire, Nasdaq-listed Solana treasury company Sharps Technology (STSS) announced that it has reached a 90-day stock lock-up agreement with SOL Markets. Under this agreement, SOL Markets agrees to restrict the sale of its advisory warrants and related stocks for 90 days, effective from January 16, 2026. Previously, the Sharps Technology board approved a stock repurchase plan of up to $100 million and is currently developing a universal digital identity and authentication framework through strategic partnerships with Coinbase, Crypto.com, and Jupiter.
Forward Industries: SOL Holdings Increase to Nearly 6.98 Million, Staking Rewards Reach 133,450 SOL
Nasdaq-listed Solana treasury company Forward Industries released its financial performance report, disclosing that as of January 15, the company holds a total of 6,979,967.46 SOL, having staked almost all SOL since establishing its Solana treasury and earned staking rewards of 133,450 SOL. Additionally, Forward Industries disclosed that its registered stock with the U.S. Securities and Exchange Commission was launched on the Solana blockchain last December through the Opening Bell platform under Superstate.
Solana Treasury Company Upexi Reaches Securities Purchase Agreement to Raise $36 Million
Last week, Nasdaq-listed Solana treasury company Upexi announced that it has reached a securities purchase agreement with Hivemind Capital Partners to raise $36 million. The issuance of the notes is expected to be completed around January 14, 2026, subject to customary closing conditions. The notes will be backed by locked SOL tokens and will be incorporated into the company's Solana treasury after the transaction is completed. This transaction is expected to increase Upexi's SOL holdings by 12%, reaching over 2.4 million SOL, making it the second-largest corporate SOL holder after Forward Industries, which holds 6.9 million SOL.
Representative Companies of Altcoin Treasury Listed Companies
TON Treasury Company AlphaTON Capital Raises $15 Million Through Common Stock Registration
On January 16, Nasdaq-listed TON treasury company AlphaTON Capital announced that it has raised $15 million through the registration of common stock, issuing a total of 15,000,000 shares at a price of $1 per share. HC Wainwright & Co. served as the exclusive placement agent for this issuance. The company stated that it plans to use the net proceeds from this issuance to expand the GPU deployment scale of Cocoon AI, supplement working capital, and for general corporate purposes.
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