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Top stories today:
- Biden administration to defer TikTok ban decision to Trump
- Trump said to order crypto as national priority, create reserve
- Nintendoās Switch 2 with kickstand design revealed, stock -6%
- Solana proposed adopting new emission model amid inflation concerns
- Bay Area leads in U.S. VC funding, with 38%, followed by NY, LA
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
We'll be out on Monday as itās Martin Luther King Jr. day (also Trumpās inauguration at 12 PM ET), but back on Tuesday.
Listen to our AI-generated podcast summarizing todayās newsletter (beware of hallucinations):
1. Biden administration to defer TikTok ban decision to Trump
No fines in plan.
TikTok could still choose to shut down that day.
Law doesnāt require TikTok to go dark.
App stores and internet service providers will likely cut TikTokās connections with the U.S. users, though, to comply with the law.
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3. Trump said to order crypto as national priority on Mon., potentially create reserve
U.S.-created coins like SOL, USDC, and XRP could be prioritized.
SOL +8% to $217 on the news.
Crypto advisory council could also be created.
A national Bitcoin stockpile is also reportedly in consideration.
$2.5K is the basic ticket, which is already touted to be sold out, alongside $100K VIP tickets.
$1M private dinner packages with Trump.
White House crypto czar David Sacks will also be at the event.
