bitcoinist.com

Coinbase CEO Brian Armstrong has denied existing tension between the exchange and the White House over the content of the crypto market structure bill, i.e., the Digital Asset Market Clarity Act. This development follows a series of contentious moments surrounding the highly anticipated crypto market structure bill, beginning with Armstrong raising concerns over its provisions, which the crypto exchange would rather protest than support.

Crypto Market Bill Still On, Bank Negotiations Ongoing — Coinbase CEO

In a surprising move on January 15, Armstrong announced a public support withdrawal for the Clarity Act. The key crypto figure argued that the current content of proposed legislation was introducing a regulatory structure that would produce a net negative effect on the crypto industry. In particular, Armstrong raised alarm on opposition to stablecoin yield sharing, among other issues, before emphasizing the preference of “no bill than a bad bill.”

Following this event, journalist Eleanor Terrett reported that the White House became furious over Armstrong and Coinbase’s public criticism, which they described as a “rug pull”. In particular, she claimed the Donald Trump-led administration has threatened to withdraw support for the Clarity Act if the crypto exchange fails to return to the negotiation table with satisfactory solutions to the stablecoin yield dilemma. 

However, Armstrong has come out to counter this narrative of a potential fallout between Coinbase and the US government. Rather, Armstrong stated the crypto exchange has only directed to negotiate a deal with banks on how stablecoin yield sharing can fit with the present financial system. 

Notably, the US banking industry has pushed against allowing stablecoin operators to share yield with users, which they project could potentially cause a deposit flight even at interest rates as low as 5%. Armstrong states Coinbase is now exploring a potential deal that could benefit all entities involved following what he described as a “super constructive” meeting with the White House, thereby countering the report of escalating tensions.

Terrett Fires Back At Coinbase Boss

In another X post, Terrett hit back at the Coinbase CEO, claiming her initial report remains accurate. The renowned journalist explains that Armstrong’s rebuttal on supports her earlier claim that the White House has now hinged their support of the Clarity Act to Coinbase’s ability to secure a deal with the banks on the implementation of stablecoin yield sharing.

For context, the Clarity Act is designed to clearly define how digital assets are regulated in the United States and which agencies oversee different parts of the crypto market. It is a crucial piece of legislation, the approval of which is expected to improve investor protection and encourage adoption.

Steak ’n Shake has moved $10 million of Bitcoin onto its corporate balance sheet, a fresh step in the fast-food chain’s crypto push. According to reports, the purchase equals about 105 BTC at current prices, and the company says all customer Bitcoin receipts feed into a so-called Strategic Bitcoin Reserve.

Strategic Bitcoin Reserve Tied To Sales

Based on reports, Steak ’n Shake calls its new approach a Strategic Bitcoin Reserve and says it links reserve growth directly to rising same-store sales.

The company has framed the move as part of daily operations rather than a standalone financial bet. Customers who pay with Bitcoin are effectively contributing to the reserve, the chain said. This is a different route from companies that raise capital or borrow specifically to buy crypto.

Eight months ago today, Steak n Shake launched its burger-to-Bitcoin transformation when we started accepting bitcoin payments. Our same-store sales have risen dramatically ever since.

All Bitcoin sales go into our Strategic Bitcoin Reserve.

Today we increased our Bitcoin…

— Steak ‘n Shake (@SteaknShake) January 17, 2026

Payments On The Lightning Network

Steak ’n Shake started accepting Bitcoin at US locations in mid-May 2025, using the Lightning Network to handle payments, according to earlier coverage.

The company reports payment processing fees have fallen by roughly 50% compared with traditional card payments, and sales have risen since the rollout.

Reports note same-store sales gains in the low-to-mid double digits — figures such as 15% have been cited by several outlets.

The $10 million allocation follows eight months of active Bitcoin payments at the tills. Management says the reserve will fund store upgrades and ingredient improvements without raising menu prices.

The firm also ran a branded promotion last year that linked small Bitcoin rewards to specific menu purchases, part of its wider effort to make crypto part of the customer experience.

How The Company Plans To Use Funds

Reports indicate Steak ’n Shake wants the reserve to be a steady, internally funded asset rather than a speculative holding driven by market timing.

Some of the Bitcoin will support operational improvements, while other parts may be kept as a corporate asset. That mix could change if management alters its view of how Bitcoin fits with broader company goals.

Industry watchers point out that $10 million is modest against the biggest corporate crypto treasuries, but it is one of the more public moves by a legacy consumer brand.

The trend of businesses accepting Bitcoin and then holding some of it has drawn attention because it ties everyday commerce to cryptocurrency accumulation.

Featured image from Unsplash, chart from TradingView

Bitcoin prices continue to consolidate within the $95,000 zone following the pullback in the latter part of the past week. The premier cryptocurrency is experiencing a bullish January performance marked by a net gain of 11.42% since the new year commenced. However, the effects of the extended price correction from Q4 2025 linger. Using recent on-chain data, a market analyst with the username MorenoDV_ has identified certain holder cohorts who are still experiencing extreme psychological stress that could impact future price trajectory.

Bitcoin Market Risk Redistribution Ongoing – Here’s Why

In a QuickTake post on January 17, MorenoDV_ postulates that the Bitcoin bull cycle remains on despite the negative events of Q4 2025. Notably, the crypto market leader experienced a heavy 33% price correction after hitting its current all-time high ($126,198) in early October.

Although Bitcoin has recorded some modest price recovery in the past month, significant expectations of a bear market remain, driven by a diminished market demand and failure to reclaim key technical levels such as the 365-day MA. Using the data from the Realized Price by UTXO Age Bands, MorenoDV explains that the Bitcoin market is actively redistributing risk. This positive development counters the bearish narrative of a market cycle ending.

With the present spot price around $95,583, the CryptoQuant metric shows that psychological stress is unevenly distributed among Bitcoin holders. Notably, short-term holders, i.e., 1w-1m and 1m-3m cohorts, have realized prices, i.e., $89,255 and $93,504, respectively, below the spot price. This data suggests that these classes of investors are in profit and are experiencing low market pressure, which helps keep fear at bay.

However, mid-term holders of 3m-6m and long-term holders of 6m-12m have realized prices of $114,808, and $100,748 both of which are significantly above the present spot price. However,  both holder cohorts have chosen to bear the discomfort by absorbing losses rather than initiating an aggressive redistribution. 

Therefore, as the spot price rises towards the realized price levels of these stressed cohorts, losses are expected to significantly reduce, eventually easing these pressures on these classes of holders and balancing the market risk. This market development only occurs if the 3m-6m and 6m-12m continue to interpret the present market drawdown as a mere cyclical discomfort rather than a change in market structure. Therefore, there is a need for a sustained bullish narrative and constructive price behavior to keep these investors from seeking a market exit.

Bitcoin Price Overview

At press time, Bitcoin trades at $95,265, reflecting a modest 5.3% gain in the last week.