Last year, despite the UK stock market achieving its strongest performance in 16 years, mutual funds focused on UK equities saw significant outflows. According to Jin10, data from the Investment Association reveals that retail investors withdrew a net £11.1 billion from UK stock funds in 2025, marking the tenth consecutive year of outflows. Over the past decade, the total withdrawal from UK equity funds has surged to £71 billion. This trend occurs as UK Chancellor Reeves strives to boost the UK stock market, declaring it the beginning of a 'new golden era for the City of London.' Les Halaf, Head of Investment Analysis at fund platform AJBell, commented, 'UK stock funds have performed poorly over the past decade. Part of the reason is the allure of Silicon Valley, which has attracted capital across the Atlantic. Additionally, self-directed investors prefer investing in domestic stocks, reducing their need for fund managers.'

Vietnam is set to introduce a tax framework for cryptocurrency transactions, aligning digital assets with securities trading. According to Cointelegraph, the Ministry of Finance has circulated a draft policy outlining the new tax structure. Individuals transferring crypto assets through licensed service providers would incur a 0.1% personal income tax on each transaction's value, similar to the levy on stock trades in the country. The draft circular, released for public consultation, specifies that crypto transfers and trading will be exempt from value-added tax. However, a turnover-based tax will apply to investors regardless of their residency status whenever a transfer occurs. Companies operating in Vietnam will face different tax obligations. Institutional investors earning income from crypto transfers will be subject to a 20% corporate income tax, calculated on profits after deducting purchase costs and related expenses. Authorities have also provided a formal definition of crypto assets, describing them as digital assets relying on cryptographic or similar technologies for issuance, storage, and transfer verification. The draft outlines stringent requirements for operators, including a minimum charter capital of 10 trillion Vietnamese dong (approximately $408 million) for firms seeking to run a digital asset exchange. Foreign ownership is permitted but capped at 49% of an exchange’s equity. Vietnam ranks fourth globally in crypto adoption. The proposed rules coincide with the country's five-year pilot program for a regulated crypto asset market, launched in September 2025. On October 6, 2025, the Ministry of Finance confirmed that no companies had applied to participate in the pilot, citing high capital requirements and strict eligibility conditions. In a related development, Vietnam began accepting applications for licenses to operate digital asset trading platforms last month, marking the operational launch of its planned pilot program for a regulated crypto market. The State Securities Commission of Vietnam announced that applications for these administrative procedures would be accepted starting January 20, 2026, as part of a broader effort to bring cryptocurrency under formal regulatory oversight.

Trend Research sold over 400,000 ETH and moved large holdings to exchanges to manage debt after the price drop. source: https://cryptonews.com/news/trend-research-slashes-ether-holdings-after-market-crash-to-repay-loans/

ProCap Financial 首席投资官 Jeff Park 在接受 Anthony Pompliano 采访时表示，市场或需重新审视“宽松货币政策推动比特币牛市”的传统逻辑，更具宽松性的政策（如降息）未来可能不再是比特币进入牛市的关键催化剂。比特币下一阶段最重要的上行催化剂，可能是进入其所谓的“正相关比特币”阶段，即在美联储加息环境下价格仍持续上涨。他称这一状态为比特币的“终局形态”或“完美圣杯”，意味着比特币将摆脱依赖量化宽松（QE）流动性的叙事。Jeff Park 同时强调，若该情景实现，可能意味着传统金融体系逻辑被打破，包括无风险利率定价机制、美元霸权地位以及收益率曲线定价方式等。此外，预测平台 Polymarket 数据显示，交易员当前给予 2026 年美联储全年累计降息三次的概率最高，为 27%。（Cointelegraph）

The golden statue of US President Donald Trump, dubbed ‘Don Colossus,’ has remained uninstalled since its creation. source: https://www.cryptopolitan.com/golden-trump-statue-remains-uninstalled/

Trader Eugene has observed that Garrett Jin is significantly reducing his Bitcoin (BTC) positions. According to NS3.AI, Eugene is opting to remain on the sidelines due to the current high trading difficulty in the market. He stresses the importance of focusing on trades with clear risk-reward ratios, noting that recent attempts to capitalize on market lows were risky and yielded only modest profits.

null source: https://x.com/cointelegraph/status/2020060189722898842

The battle between conviction and fear intensifies for ADA holders. source: https://ambcrypto.com/cardano-hits-2023-lows-can-ada-recover-after-20-drop/

null source: https://x.com/CoinMarketCap/status/2020059984898453594

Spacecoin and Midnight partner to provide satellite-based, blockchain-powered Internet and messaging services with end-to-end privacy to counter censorship and surveillance. source: https://catenaa.com/industries/telecom/spacecoin-midnight-launch-privacy-focused-satellite-network/

2026 年是我们决定以核心价值为代价的主流采用不值得的时候。「足够好」的去中心化不够好。用户应该得到比信任基础设施提供商访问「去信任」网络更好的东西。

对于虚拟货币、稳定币的监管力度进一步加强，但对于此前不久受到监管严格定性的RWA业务，却似乎留出了一道合规窄门。

这场博弈远未结束——下一波上涨的动力或许并非源于乐观情绪，而是源于「不得不买」的刚需。

巴克莱认为，软件行业的大幅下跌正对其持有高比例投资敞口（20%）的商业发展公司造成显著冲击。

“2.6”注定会计入虚拟货币史册，也让人似乎找到了本次暴跌的原因。

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RWA,法律,政策,官方定调：中国的RWA游戏规则确定了——RWA将不再是灰色地带 金色财经,2026年2月6日，一个值得被记住的日子。

证监会现公布《关于境内资产境外发行资产支持证券代币的监管指引》，自公布之日起施行。

以太坊在这里争夺的，是一个更微妙的新标签：AI 协作的底层清算层。

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