Midday Key Developments on January 26

7:00 (UTC+8) - 12:00 (UTC+8) Keywords: spot silver, Japan, SocialFi 1. Spot silver surpassed $109; 2. Institutions: The probability of joint US-Japan intervention in the exchange rate has risen significantly; 3. Japan may approve spot cryptocurrency ETFs as early as 2028; 4. The Federal Reserve issued a rare yen intervention signal, and a weaker US dollar may boost bitcoin; 5. The SocialFi narrative has completely collapsed, with most platform tokens generally plummeting by over 90%; 6. Trump’s second son revealed that his company currently holds over $500 million in cryptocurrencies; 7. Vitalik: Re-examining the “cabin in the mountains” concept, ZK technology is changing the trade-off logic of blockchains.