Bitmine Surpasses 1M ETH Staked!

Bitmine recently sent 86,400 ETH worth about $266 million to Ethereum’s staking deposit contract.

Danielle du Toit
January 12, 2026

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Bitmine recently sent 86,400 ETH worth about $266 million to Ethereum’s staking deposit contract in batched transactions.

Bitmine transferred 86,400 ETH to Ethereum’s staking deposit contract in four batched deposits (23.04K, 21.12K, 19.2K, and 23.04K ETH), totaling roughly $266.3 million.
The transfers were pointed out by Crypto Patel and are tied to on-chain activity associated with Tom Lee.
Crypto Patel claimed Bitmine has now staked 1,080,512 ETH worth about $3.33 billion, while holding 4.144 million ETH, or around 3.43% of Ethereum’s total supply.

Coinbase is stepping up lobbying efforts as US lawmakers debate stablecoin rewards in the CLARITY Act.

Coinbase is ramping up lobbying in Washington and warned it could withdraw support for the proposed CLARITY Act if lawmakers move to restrict stablecoin-based rewards.
The dispute focuses on whether stablecoin incentives offered by crypto platforms should be regulated like interest-bearing bank products, with banking groups and some anti-DeFi advocates arguing such rewards could drain deposits from the traditional banking system.
Crypto advocates have pushed back, with Stand With Crypto saying more than 135,000 emails have been sent to lawmakers as the US Senate Banking Committee prepares to take up the issue during a markup session this week.

Tennessee regulators ordered Kalshi, Polymarket, and Crypto.com to halt sports-related event contracts.

Tennessee regulators ordered several crypto-linked platforms to stop offering sports event contracts to state residents.
The Tennessee Sports Wagering Council sent cease-and-desist letters to Kalshi, Polymarket, and Crypto.com, requiring them to halt sports-related contracts, void existing positions, and refund affected customer funds.
Regulators said the contracts function as sports wagers under Tennessee law, arguing that labeling them as “event contracts” does not change their underlying structure as bets on professional and collegiate sporting outcomes.

Tether faces renewed scrutiny after reports linked almost $1 billion in IRGC-associated crypto transaction volume to USDT on Tron.

TRM Labs linked Iran’s Islamic Revolutionary Guard Corps to nearly $1 billion in crypto transaction volume since early 2023, largely conducted in USDT on the Tron network through two UK-registered exchanges, Zedcex and Zedxion.
The figure includes transaction volume rather than assets seized or frozen, though headlines and social media posts incorrectly framed the findings as Tether freezing $1 billion, creating confusion across crypto and policy circles.
Tether reiterated that it cooperates with law enforcement and can freeze USDT at the address level when wallets are formally sanctioned.

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