The Daily: Bitcoin slips as US-EU tariff war fears mount, NYSE develops 24/7 tokenized securities trading platform, and more

The following article is adapted from The Block’s newsletter, The Daily, which comes out every weekday.

Happy Monday! It’s been a fairly quiet one with U.S. markets closed for Martin Luther King, Jr. Day, but we’re still here to get you up to speed with the latest.

In today’s newsletter, crypto markets drop on fears of a potential trade war between the U.S. and the EU over Greenland, the New York Stock Exchange develops a tokenized trading platform to support 24/7 trading, Paradex’s bitcoin pricing glitch triggers mass liquidations, and more.

Meanwhile, global crypto investment products logged nearly $2.2 billion in net weekly inflows, even as geopolitical jitters dented the late-week mood, according to CoinShares.

P.S. Don’t forget to check out The Funding, a biweekly rundown of crypto VC trends. It’s a great read — and just like The Daily, it’s free to subscribe!

Bitcoin slips as US-EU tariff war fears mount

Bitcoin slid back toward $92,000 in a sharp Sunday night into Monday morning sell-off as renewed U.S.-EU tariff war fears over Greenland rattled already fragile crypto market sentiment.

• The drop triggered more than $750 million in long liquidations within hours, as major cryptocurrencies, including ETH, XRP, and SOL, also tracked BTC lower.
• Presto Research analyst Min Jung noted crypto continues to underperform other risk assets, even as equities in markets like South Korea trade flat to higher, suggesting that crypto-specific weakness persists.
• Meanwhile, BTC Markets analyst Rachael Lucas said geopolitical headlines amplified weakness that had already been building after delays to the U.S. crypto market structure bill markup process.
• Lucas added that bitcoin’s recent break below its 50-week moving average had accelerated algorithmic selling amid falling futures open interest.
• While further downside toward the $67,000 to $74,000 range remains possible, Lucas said the pullback does not yet resemble past crypto winters.

NYSE develops 24/7 tokenized securities trading platform

The New York Stock Exchange is developing a platform for trading and onchain settlement of tokenized U.S. equities and ETFs, pending regulatory approval.

• The system aims to support 24/7 trading, fractional shares, dollar-denominated orders, and instant settlement using tokenized capital and stablecoin funding.
• The platform combines the NYSE’s Pillar matching engine with blockchain-based post-trade infrastructure and will support multiple blockchains for settlement and custody, the firm said.
• The initiative fits into parent company ICE’s broader push toward always-on markets, including efforts with major banks to enable tokenized deposits across clearinghouses.

Paradex’s ‘free bitcoin’ pricing glitch triggers mass liquidations, forces rollback

A pricing glitch on Starknet-based DEX Paradex briefly sent bitcoin to $0 on the platform, triggering widespread liquidations before prices rapidly recovered, users reported.

• The exchange said a database migration error caused the incident and confirmed plans to roll back the appchain to restore its last known correct state.
• Paradex did not disclose how many traders were affected, but restricted parts of the platform while engineers worked through recovery.
• The episode has reignited debate over blockchain rollbacks, an extreme and controversial response that challenges expectations of transaction finality.

Vitalik Buterin calls for ‘different and better’ DAOs beyond token-holder voting

Ethereum co-founder Vitalik Buterin called on the crypto industry to build “different and better” DAOs that move beyond token-holder voting.

• He said current DAO designs are inefficient and vulnerable to capture and manipulation, fueling growing cynicism around decentralized governance.
• Buterin highlighted privacy and decision fatigue as core obstacles and pointed to zero-knowledge proofs and selective AI use as potential solutions.
• He urged builders to prioritize stronger oracle designs, communication layers, and long-term governance infrastructure from the start.

Ethereum daily transactions surge to all-time high as gas fees fall to record lows

Ethereum daily transactions climbed to a seven-day moving average all-time high, nearing 2.5 million over the weekend as network usage nearly doubled compared to a year ago.

• Meanwhile, average gas fees have fallen to record lows around $0.15, easing long-standing historical concerns over high and unpredictable transaction costs during periods of congestion.
• The metrics follow Ethereum’s recent Fusaka upgrade, expanded blob capacity, and rising stablecoin activity that is now driving up to 40% of network transactions.

In the next 24 hours

• It’s quiet on the economic calendar front.
• Bank of England governor Andrew Bailey will speak at 9:45 a.m. ET on Tuesday. World Economic Forum annual meetings get underway.
• LayerZero and Kaito are among the crypto projects set for token unlocks.
• Web3 Hub Davos 2026 continues.

Never miss a beat with The Block’s daily digest of the most influential events happening across the digital asset ecosystem.

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