PA Daily Report | Bitcoin spot ETF saw net inflows of $844 million yesterday; Binance Alpha launched on Xueqiu and Rensheng K-line.

Today's top news highlights:

The South Korean National Assembly has passed two legislative amendments to regulate security tokens.

The People's Bank of China (PBOC) announced a 0.25 percentage point reduction in interest rates for various structural monetary policy tools.

Infinex: Public offering subscriptions exceeded $7.2 million; TGE to be held on January 30.

Binance Alpha launched on Xueqiu and Rensheng K-line.

Xunlei has sued its former CEO Chen Lei, alleging that he misappropriated company funds for illegal cryptocurrency trading.

Binance Wealth Management, One-Click Crypto Buying, Instant Exchange, Margin Trading, and Futures Trading will be available on Frax (FRAX).

Arthur Hayes predicts that dollar liquidity will increase in 2026, and Bitcoin will rise accordingly.

Bitcoin spot ETFs saw a total net inflow of $844 million yesterday, marking the third consecutive day of net inflows.

Regulatory news

Central Bank: There is still room for reserve requirement ratio and interest rate cuts this year.

Zou Lan, spokesperson and vice governor of the People's Bank of China, stated at a press conference held by the State Council Information Office on January 15 that there is still room for further reductions in the reserve requirement ratio and interest rates this year. Regarding the statutory reserve requirement ratio, the current average ratio for financial institutions is 6.3%, leaving room for further cuts. As for policy interest rates, external constraints include a relatively stable RMB exchange rate and a declining US dollar interest rate, meaning the exchange rate does not pose a strong constraint. Internal constraints include signs of stabilization in banks' net interest margins since 2025, and a significant amount of 3-year and 5-year long-term deposits maturing in 2026. The upcoming reductions in interest rates for various structural monetary policy tools will help lower banks' interest costs, stabilize net interest margins, and create room for further interest rate cuts.

The People's Bank of China (PBOC) announced a 0.25 percentage point reduction in interest rates for various structural monetary policy tools.

Zou Lan, spokesperson and vice governor of the People's Bank of China, stated at a press conference held by the State Council Information Office on January 15 that the interest rates for various structural monetary policy tools have been lowered by 0.25 percentage points, with the one-year interest rate for various relending maturities reduced to 1.25%, and other maturities adjusted accordingly. This aims to improve structural tools and increase support to further facilitate the transformation and optimization of the economic structure.

The South Korean National Assembly has passed two legislative amendments to regulate security tokens.

According to Digital Asset, the South Korean National Assembly has passed amendments to the Capital Markets Act and the Electronic Securities Act, marking the formal establishment of a framework for the issuance and circulation of security tokens (STOs) approximately three years after financial regulators issued relevant guidelines.

The core amendments include the introduction of the distributed ledger concept, allowing issuers meeting certain conditions to directly issue and manage tokenized securities through electronic registration, and establishing a new "Issuance Account Management Institution." Furthermore, atypical securities such as investment contracts will be brought under the regulatory scope of the Capital Markets Act, and their trading in the over-the-counter market will be permitted through the establishment of a new over-the-counter brokerage business. The revised Capital Markets Act will take effect from the date of promulgation. However, provisions related to investment inducement guidelines will take effect six months after promulgation, and provisions related to over-the-counter trading will take effect one year after promulgation.

Project Updates

Binance Wealth Management, One-Click Crypto Buying, Instant Exchange, Margin Trading, and Futures Trading will be available on Frax (FRAX).

According to the official announcement, Binance Wealth Management, One-Click Crypto, Instant Exchange, Leverage, and Binance Futures will be listed on Frax (FRAX) according to the timeline listed below.

• Binance Wealth Management: The FRAX Principal-Protected Earnings product will be launched on the Binance Principal-Protected Earnings platform and open for subscription on January 15, 2026 at 16:00 (UTC+8).

• One-click buy & sell: Within one hour of FRAX being listed on Binance Spot, you can buy and start trading with one click.

• Instant Exchange Platform: Within one hour of FRAX being listed on Binance Spot, users can exchange FRAX for BTC, USDT, or other tokens supported by the instant exchange platform, with no transaction fees.

• Binance Leverage: Binance will add FRAX as a borrowable asset and FRAX/USDT and FRAX/USDC cross and isolated margin trading pairs on January 15, 2026 at 16:00 (UTC+8).

• Binance Futures: Binance will launch FRAX 1-50x USDT-margined perpetual contracts on January 15, 2026 at 16:00 (UTC+8).

Binance Alpha will list OWL tokens at 6 PM today, with an airdrop threshold of 241 points.

According to the official announcement, Binance Alpha will list Owlto Finance (OWL), and Alpha trading will officially begin on January 15, 2026 at 18:00 (UTC+8). Users with at least 241 Binance Alpha Points can receive an airdrop of 667 OWL tokens on a first-come, first-served basis. If the reward pool is not fully distributed, the points threshold will automatically decrease by 5 every 5 minutes. Please note that claiming the airdrop will consume 15 Binance Alpha Points. Users must confirm their claim on the Alpha event page within 24 hours, otherwise they will be considered to have forfeited their claim.

Infinex: Public offering subscriptions exceeded $7.2 million; TGE to be held on January 30.

Infinex announced on its X platform that its public sale has ended. The sale had 868 participants, raising 7.214 million USDC. Approximately $5 million (5% of the INX supply) was allocated, and approximately $2.21 million was refunded. After identifying and removing approximately $1.2 million in funds from "Tyrant" addresses, the maximum allocation per participant was $245,000, and 99.5% of participants received their full allocation. Refunds have been credited to users' Infinex accounts. Furthermore, TGE will take place on January 30th.

Binance Alpha will list Sport.Fun (FUN)

According to the official announcement, Binance Alpha will list Sport.Fun (FUN) on January 15th. Eligible users can claim the airdrop using Binance Alpha Points on the Alpha event page after trading opens. More details will be announced soon.

Moonbirds unveils its Birbillions strategy: integrating Memecoin and physical collectibles to create a Web3 version of Pop Mart.

Moonbirds announced its Birbillions strategy on the X platform, aiming to create a "Web3 version of Pop Mart" by integrating Memecoin and physical collectibles to build a crypto-native consumer brand with annual revenue of $1 billion. The core of this plan is a dual-engine approach: using the Memecoin BIRB as a cultural dissemination and community coordination layer to drive marketing and communication; and leveraging the manufacturing and distribution capabilities of its physical collectibles company, Orange Cap Games (OCG), to convert online attention into sustainable physical merchandise revenue and penetrate the IP into the mainstream consumer market.

In terms of strategic execution, OCG generated approximately $8 million in revenue through the sale of physical collectibles in its second year of operation. Card game (TCG) products alone generated over $6 million in sales within 12 months, while related Telegram stickers generated over $1.4 million in demand. Currently, OCG's products have entered North America's largest hobby distribution network, establishing a stable retail channel. Regarding ecosystem growth data, since acquiring the Moonbirds IP, the number of related independent wallets has grown from approximately 10,000 to nearly 400,000, demonstrating a significant expansion of its community.

Binance Alpha launched on Xueqiu and Rensheng K-line.

According to information on the official page, Binance Alpha has listed Meme Coin Snowball (Snowball) and Life K-line (Life K-line).

Xunlei has sued its former CEO Chen Lei, alleging that he misappropriated company funds for illegal cryptocurrency trading.

According to The Paper, Xunlei Corporation (Nasdaq: XNET) has filed a lawsuit against its former CEO Chen Lei and his core team, accusing them of misappropriating company funds and seeking damages of up to 200 million yuan. The case has been accepted by a court in Shenzhen. Sources close to the case told reporters that Chen Lei joined Xunlei as CTO in 2014 and became CEO in 2017. In 2020, Xunlei dismissed him on suspicion of embezzlement. Chen Lei is also suspected of misappropriating tens of millions of yuan of company funds for illegal cryptocurrency trading, which is prohibited by the state. To evade investigation, Chen Lei left the country in early April 2020.

Hyperliquid launches Monero futures trading, supporting up to 5x leverage.

According to an official announcement from Hyperliquid, in response to community requests, the platform has now launched Monero ($XMR) perpetual contract trading, allowing users to go long or short with leverage up to 5x.

Opinions & Analysis

Bank of England Deputy Governor: The UK may need to provide a similar guarantee mechanism for stablecoin deposits as for bank deposits.

According to Bloomberg, Bank of England Deputy Governor Dave Ramsden stated that the UK may need to provide a similar guarantee mechanism for stablecoin deposits as bank deposits. Ramsden noted that the central bank is considering how to maintain public confidence in the currency should a systemically important stablecoin collapse. He suggested that long-term trust in stablecoins might require establishing a scheme similar to bank deposit insurance and ensuring stablecoin holders have priority as creditors in bankruptcy proceedings through statutory liquidation arrangements.

Ramsden's comments suggest that the Bank of England may extend its current protections for bank deposits to widely used stablecoins. The Bank of England has already raised the cap on term cash deposits for British citizens from £85,000 to £120,000 to protect against bank failures. The Bank of England plans to implement stablecoin regulatory rules by the end of the year.

Arthur Hayes predicts that dollar liquidity will increase in 2026, and Bitcoin will rise accordingly.

In his latest article, BitMEX co-founder Arthur Hayes predicts that as the Federal Reserve's balance sheet expands and bank lending and mortgage rates decline, dollar liquidity will increase in 2026, and Bitcoin will rise accordingly.

JPMorgan Chase: Crypto market inflows are projected to reach a record $130 billion in 2025, with further increases expected this year.

According to The Block, JPMorgan analysts stated in a recent report that following a record inflow of nearly $130 billion in 2025, cryptocurrency market inflows are expected to increase further in 2026, primarily driven by institutional investors. Analysts anticipate that the enactment of further crypto regulations, including the U.S. Clarity Act, will support this growth and potentially further boost institutional adoption of digital assets, as well as venture capital, M&A, and IPO activity in areas such as stablecoin issuers, payment companies, and exchanges.

The report analyzes that inflows in 2025 were primarily driven by purchases from Bitcoin and Ethereum ETFs (likely dominated by retail investors) and digital asset treasury firms other than Strategy. However, the pace of purchases by treasury firms has slowed significantly since last October. Meanwhile, while crypto venture capital saw a slight increase in 2025, the number of deals plummeted, and early-stage funding activity slowed markedly.

Important data

Bitcoin spot ETFs saw a total net inflow of $844 million yesterday, marking the third consecutive day of net inflows.

The Bitcoin spot ETF with the largest single-day net inflow yesterday was BlackRock ETF IBIT, with a net inflow of $648 million. IBIT's historical total net inflow has reached $63.11 billion. This was followed by Fidelity ETF FBTC, with a net inflow of $125 million. FBTC's historical total net inflow has reached $12.31 billion.

Ethereum spot ETFs saw a total net inflow of $175 million yesterday, marking the third consecutive day of net inflows.

The Ethereum spot ETF with the largest single-day net inflow yesterday was the BlackRock ETF ETHA, with a net inflow of $81.6032 million. ETHA's historical total net inflow has reached $12.773 billion. This was followed by the Grayscale Ethereum Mini Trust ETF ETH, with a single-day net inflow of $43.4695 million. ETH's historical total net inflow has reached $1.61 billion.

Binance's spot crypto trading market share has fallen to 25%, the lowest level since the beginning of 2021.

According to Bloomberg, CoinDesk data shows that in December 2025, Binance's market share in cryptocurrency spot trading fell to 25%, the lowest level since January 2021, far below its peak of nearly 60% in 2023. Its market share in derivatives trading also dropped from a peak of nearly 70% to approximately 35%. Analysts point out that trading activity flowing out of Binance has primarily shifted to non-US exchanges such as Bybit, HTX, and Gate, while trading volume growth on US exchanges, including Coinbase, has been relatively limited. Meanwhile, on-chain trading platforms like Hyperliquid are attracting more derivatives trading, indicating a profound shift in market structure.

Huang Licheng continued to reduce his ETH long positions, and his account had a floating profit of $876,000.

According to HyperInsight monitoring, Maji (Huang Licheng) address has been continuously reducing its ETH long positions in the past 30 minutes. Currently, it has 9620.13 ETH (approximately US$32.03 million) long with 25x leverage, with an average entry price of US$3217.71 and a floating profit of US$1.07 million; and 310,000 HYPE long with 10x leverage, with an average entry price of US$25.62 and a floating loss of US$194,000.