BizwavemediaPersonal Finance and Crypto Updates

Justin Sun may acquire up to $100 million worth of Bitcoin to grow Tron’s treasury, the billionaire said in a statement to CoinDesk after revealing last week that Tron would increase its Bitcoin stash in response to Binance’s call.

Binance is shifting $1 billion from its SAFU fund’s stablecoins into Bitcoin in a move that reinforces the company’s conviction that Bitcoin is the cornerstone of the crypto market.

Data tracked by Lookonchain shows that Binance already acquired over $100 million in Bitcoin today.

Binance SAFU Fund just bought 1,315 $BTC($100.7M).https://t.co/WwuOOWlMjj pic.twitter.com/jyGjUtY9bd

— Lookonchain (@lookonchain) February 2, 2026

The commitments from Sun and Binance come as the crypto market faced a sharp downturn last weekend, with Bitcoin falling below $75,000, its lowest level since April 2025.

The leading digital asset was hovering around $78,000 at the time of writing, up 1% in the last 24 hours, per TradingView.

Bitcoin has dropped 11% so far this year, creating what some analysts view as a buying opportunity.

US equities fell shortly after the opening bell today, with the S&P 500 down about 0.8% as a sharp selloff in Microsoft weighed on major indexes. Microsoft shares dropped more than 11% in early trading, marking their steepest intraday decline since March 2020.

The selloff followed Microsoft’s fiscal second-quarter earnings report released after the bell on Wednesday. The company beat Wall Street estimates on both revenue and profit, with cloud revenue surpassing $50 billion for the first time.

Despite the strong results, investors reacted negatively amid concerns that cloud growth may be slowing and that AI-related capital spending continues to rise.

Microsoft has been one of the largest beneficiaries of the AI boom due to its early investment in OpenAI, briefly pushing its market capitalization above $4 trillion in July. The stock has since retreated as investors reassess the pace of returns from heavy AI infrastructure spending.

The Nasdaq Composite fell about 1.6% in early trading, dragged lower by Microsoft’s decline. Other large technology stocks also weakened, with Tesla shares down near 2% after the automaker reported its first-ever annual revenue decline.

The move has increased pressure on Apple, which is scheduled to report earnings after the bell on Thursday, as investors look for reassurance on growth across the broader technology sector.

Bitcoin fell more than 4% to around $85K as a broad risk-off move swept global markets, with the leading digital asset dropping alongside equities, tech stocks, and gold.

The S&P 500 declined over 1% while the Nasdaq slid more than 1.8%, with US equities opening sharply lower following a steep drop in Microsoft shares.

Microsoft fell about 11% after its earnings report, dragging the broader technology sector lower. Tesla dropped around 2%, Google slipped roughly 2.5%, and Nvidia fell about 1.5%.

The selloff extended beyond equities. Gold, which topped $5,500 on Wednesday at a record high, reversed sharply and fell nearly 5% to around $5,100 as investors cut exposure across asset classes.

The market turbulence triggered heavy liquidations in crypto. More than $360 million in positions were liquidated over the past hour, according to Coinglass data, driven overwhelmingly by long positions.

Of that total, roughly $350 million came from longs compared with about $10 million in short liquidations. Total liquidations over the past 24 hours approached $700 million.

Bitcoin’s decline was mirrored across major tokens. Ether fell about 6% to near $2,800, Solana dropped roughly 5% to around $118, and XRP slid about 5% to near $1.80.

Justin Sun, founder of the Tron blockchain, said Friday that Tron would increase its Bitcoin holdings in response to Binance’s call.

In response to Binance’s call, Tron will also increase its BTC holdings in the future.

— H.E. Justin Sun 👨‍🚀 🌞 (@justinsuntron) January 30, 2026

Binance is converting the SAFU fund’s $1 billion stablecoin reserves into Bitcoin, a decision that reinforces its belief that Bitcoin is the core long-term asset of the crypto ecosystem.

The exchange expects to complete the conversion within 30 days, with ongoing rebalancing to restore the fund to $1 billion if its value falls below $800 million due to price fluctuations.

Sun has backed Tron Inc., a Nasdaq-listed company that holds TRX on its balance sheet.

The firm, which bridges traditional entertainment products and web3 infrastructure, has accumulated around 679 million TRX tokens worth $196 million, per DropsTab.

Gold and silver extended their sharp declines today, deepening a correction that began after both metals surged to record highs earlier in the week. Gold, which topped $5500 for the first time on Wednesday, fell further below the $5000 level, while silver extended losses to more than 20%, sliding to around $92 an ounce.

The selloff followed a broad risk-off move on Thursday that hit stocks, crypto, and commodities. Gold plunged about 5% on Thursday to near $5,100, while silver dropped more than 10% toward $100.

While equities and crypto saw modest stabilization by Friday morning, precious metals continued to weaken.

Analysts described the move as aggressive profit-taking after an extraordinary run. Gold had gained roughly 20% over the past month, while silver had surged more than 50% over the same period, leaving positioning stretched and vulnerable to a sharp reversal.

The correction gathered pace after the US dollar strengthened following President Donald Trump’s announcement of his choice for the next Federal Reserve chair. Trump named former Fed Governor Kevin Warsh to succeed Jerome Powell when his term ends in May.

The dollar index rose about 0.4%, rebounding from a four-year low earlier in the week, making dollar-denominated commodities less attractive for overseas buyers.

Losses spread beyond gold and silver. Spot platinum fell about 15.5% to roughly $2,221 an ounce, while palladium plunged more than 12% to around $1,764, underscoring the breadth of the correction across the metals market.

Kazakhstan has set aside $350 million from the National Fund of the Republic of Kazakhstan to support the formation of a national crypto reserve, Deputy Chairperson of the National Bank of Kazakhstan Aliya Moldabekova said at the Annual Business Review this week.

Established to manage the country’s resource wealth, the National Fund of the Republic of Kazakhstan accumulates revenues from oil, gas, and mineral extraction and serves as a fiscal buffer to support economic stability during periods of stress.

The National Investment Corporation (NIC), a subsidiary of the National Bank of Kazakhstan, will be responsible for establishing the country’s national crypto reserve. According to local media reports, $350 million from the National Fund has been transferred to a dedicated account at the Central Depository.

The state will not buy crypto directly. Instead, the reserve will initially be built through investments in crypto-focused hedge funds, with five funds currently under review.

At a later stage, the central bank is considering equity investments in venture capital funds linked to digital assets.

The reserve will also be funded with crypto seized by law enforcement agencies, a practice presently adopted by the US.

Kazakhstan has positioned itself as a regional crypto hub since 2022, when it attracted Bitcoin miners relocating from China. The country has since legalized crypto mining and trading through the Astana International Financial Centre.

Earlier this year, President Kassym-Jomart Tokayev signed legislation to modernize Kazakhstan’s banking system and integrate digital finance into the national financial framework.

The announcement follows a crackdown on illegal crypto exchanges in Kazakhstan, with authorities shutting down 130 unlicensed platforms that processed $124 million in transactions late last year.

OKX CEO Star Xu said the October 10 crash was not an accident but was the result of high-risk yield campaigns tied to USDe that normalized hidden leverage, pushing back after Binance released a report attributing the turbulence to macroeconomic shocks and market-structure issues.

In a statement issued on Friday, Xu argued that the incident, which triggered over $19 billion in liquidations within 24 hours and affected 1.6 million traders, “was caused by irresponsible marketing campaigns by certain companies.”

“We observed clearly that the crypto market’s microstructure fundamentally changed after that day,” Xu stated. “Many industry participants believe the damage was more severe than the FTX collapse.”

According to Xu, systemic risk had built up quietly across platforms before being exposed by market volatility.

He said the root of the problem was user-acquisition campaigns that promoted double-digit yields on USDe while allowing it to be used as collateral and treated with the same risk assumptions as USDT and USDC.

“USDe is fundamentally different from products such as BlackRock BUIDL and Franklin Templeton BENJI, which are tokenized money market funds with low-risk profiles. USDe, by contrast, embeds hedge-fund-level risk,” Xu noted.

In practice, USDe traded as if it were interchangeable with stablecoins despite a materially higher risk profile, the OKX CEO stated, adding that this encouraged leverage loops in which users repeatedly swapped USDT and USDC into USDe, borrowed against it, and recycled the proceeds to chase yield, pushing headline APYs from 24% to more than 70%.

When market volatility rose on October 10, Xu said even a relatively small market shock was enough to trigger a rapid breakdown. USDe depegged, liquidations cascaded across venues, and weaknesses in risk management around other assets such as WETH and BNSOL amplified losses, with some tokens briefly trading near zero.

He said the impact on global users and companies, including OKX customers, was severe and recovery would take time.

“I am discussing the root cause, not assigning blame or launching an attack on Binance. Speaking openly about systemic risks is sometimes uncomfortable, but it is necessary if the industry is to mature responsibly,” Xu explained, pointing out that Binance bears an outsized responsibility for market stability.

The crash occurred amid heightened volatility following Donald Trump’s announcement of a 100% tariff on Chinese imports. High leverage across centralized exchanges compounded the selling pressure.

ARK Invest CEO Cathie Wood said on ‘The Claman Countdown’ this month that the severity of the crash was linked to a software glitch at Binance, calling it an “aftershock” of prior market instability.

Xu previously pointed to an “industry-leading company” as a primary culprit, accusing the exchange of manipulating low-quality tokens in ways he compared them to Ponzi schemes. He claimed that such practices had eroded trust across the crypto industry.

In its report, Binance said the crypto crash was triggered by macroeconomic shocks, elevated leverage across the market, market makers pulling liquidity under extreme volatility, and Ethereum’s network congestion.

Binance said its systems stayed operational during the selloff, with minor issues occurring after most liquidations. The exchange has compensated affected users and improved safeguards after the event.