NFT market remains resilient amidst crypto decline; Trial date set for Do Kwon; North Dakota explores Bitcoin Weekly Recap
Do Kwon trial date set for early 2026
The trial for Do Kwon, co-founder of Terraform Labs, has been scheduled for January 26, 2026, in the Southern District Court of New York. Do Kwon, who has pleaded not guilty to multiple fraud charges, will remain in federal detention until the trial. The proceedings, expected to last four to eight weeks, will address criminal charges related to the $40 billion collapse of TerraUSD and Terra (LUNA) in 2022.
Mango Markets announces closure
Mango Markets, a decentralized exchange based on Solana (SOL), will cease operations on Monday following a settlement with the SEC. The settlement requires the destruction of MNGO tokens and their removal from all exchanges. The protocol will implement changes to interest rates and collateral requirements on January 13 at 8 p.m. UTC, with both proposals receiving unanimous support.
Will Meta go crypto?
Ethan Peck, an employee of the National Center, has submitted a Bitcoin Treasury Shareholder Proposal to Meta on behalf of his family, in an attempt to bring the cryptocurrency to the boardrooms of tech giants. Tim Jotzman, a Bitcoin podcast host, shared the proposal on January 10 via a social media post.
Heritage toasts Bitcoin
Heritage Distilling Holding Company has announced a new Bitcoin Treasury Policy Statement, holding Bitcoin as a strategic asset. The company also plans to allow customers to purchase products on its e-commerce platform using Bitcoin and will acquire and hold Bitcoin as part of its corporate treasury strategy.
Standard Chartered establishes new crypto custody
Standard Chartered has launched a new digital asset custody entity in the European Union, building on its September launch in the UAE. The British bank is among the first global institutions to adopt crypto trading, operating Bitcoin (BTC) and Ethereum (ETH) trading desks.
North Dakota proposes crypto investment
North Dakota’s State Legislature has introduced Resolution 3001, proposing investment in digital assets and precious metals as a hedge against inflation. The proposal plans to invest select state funds in digital assets and precious metals. Representatives Nathan Toman, Matthew Heilman, Jared Hendrix, Daniel Johnston, SuAnn Olson, and Todd Porter, along with Senators Jeff Barta and Bob Paulson, are backing this initiative.
DOJ approval to sell Silk Road BTC
The Department of Justice has cleared a major hurdle in its largest-ever cryptocurrency asset sale. A federal judge denied Battle Born Investments’ attempt to block the sale of 69,370 Silk Road Bitcoin, seized in 2020 from an unidentified hacker known as “Individual X.”
Asian regulatory situation changes
South Korea is preparing a policy shift as the Financial Services Commission plans to gradually open cryptocurrency trading to institutions, starting with non-profit organizations. This is a departure from the current restrictions that limit trading to retail investors with real-name accounts. In another development in South Asia, a city in Bhutan has adopted a crypto reserve strategy incorporating Bitcoin, Ethereum, and BNB.
UK Judge dismisses £600 million BTC lawsuit
In the UK, Judge Andrew John Keyser KC has dismissed James Howells’ high-profile case against Newport City Council regarding a discarded hard drive allegedly containing £600 million in Bitcoin. Howells had sought landfill access or £495 million in compensation after his former partner reportedly disposed of the drive in 2013.
Bybit temporarily pauses in India
Bybit has announced a temporary suspension of services for Indian users, allowing only withdrawal access while pursuing registration as a Virtual Digital Asset Service Provider. During this period, Indian users will be unable to open new crypto or fiat trades, access trading products, or participate in campaigns. Existing derivatives positions will be set to “close-only” mode, allowing users to close their positions but preventing them from making modifications or adding to them.
NFT market shows strength
Despite the broader weakness in the cryptocurrency market, the NFT market has shown independent strength. While Bitcoin and Ethereum have fallen, NFT sales volume has increased by 10.70% to $155.4 million.
Bitfinex’s Razzlekhan drops music video
Heather Morgan, known as Razzlekhan, has released a new music video titled “Razzlekhan vs. The United States” ahead of her 18-month prison sentence for allegedly laundering BTC stolen from Bitfinex. The video notably avoids direct references to her legal proceedings.
