The Banking Disruption Wall Street Feared: Old Glory Targets Daily Crypto Use, Challenging Legacy Giants

A new banking and crypto-focused public company is taking shape through a special purpose acquisition transaction. Pro-America digital lender Old Glory Bank and Digital Asset Acquisition Corporation (Nasdaq: DAAQ) announced on Jan. 16 that they entered a business combination agreement focused on crypto-integrated banking and public markets access.

The agreement outlines a merger between Old Glory Bank’s bank holding company and Digital Asset Acquisition Corp. to form OGB Financial Company, a Texas corporation expected to list on Nasdaq under the reserved ticker symbol “OGB.” Michael Staw, co-founder and chief innovation officer of Old Glory Bank, stated:

“We intend for Old Glory Bank to be the first chartered bank to fully integrate crypto into daily banking.”

“Today, it’s too confusing, slow, and difficult for regular Americans to move money from a bank account to the blockchain,” the executive added. “At Old Glory Bank, we are an actual bank, so we are confident that, in the future, our customers will have the ability to easily move money on and off chain, as well as instantly deposit crypto into their bank account, by exchanging crypto into fiat utilizing our patent-pending OGB Freedom Offramp.”

The transaction is expected to close near the end of the first quarter or early in the second quarter of 2026, subject to shareholder approval and customary regulatory conditions. DAAQ holds approximately $176 million in its trust account while Old Glory Bank carries a $250 million pre-money valuation, with the parties planning to secure at least $50 million in additional PIPE or related financing.

Old Glory Bank operates as a full-service, digital-first, FDIC-insured institution with more than 80,000 personal and business accounts across all 50 states and several countries, alongside a physical branch in Elmore City, Oklahoma. Since launching online banking in April 2023, the bank expanded deposits from $10 million to more than $245 million as of Dec. 31, 2025. Leadership figures, including Dr. Ben Carson, Larry Elder, Sean Spicer, John Rich, and Bill Shine, have emphasized opposition to debanking and continued support for industries such as crypto, firearms, oil and gas, and agriculture.

Detailing additional product plans tied to blockchain integration, Staw explained:

“Old Glory Bank intends to offer fast and easy self-service crypto loans for our great customers who do not want to sell crypto, receive a 1099-DA, and potentially be subject to tax.”

“Again, because we are a bank, and we have one of the lowest costs of funds in the industry, we will be able to make consumer crypto loans in all 50 states, with fair interest rates and no garbage fees,” he clarified. The executive continued: “We won’t stop there, and Old Glory Bank intends to issue its own payment stablecoin, OGBUSD, on the ERC-20 standard so that our freedom-loving customers will have the ability to make payments around the world instantly and securely on various blockchains.”

MSCI Inc., a New York-based publicly traded company listed on the NYSE with a market capitalization of $43.76 billion and a stock price of $565.68 as of January 2, is a key player in the investment world. It curates over 246,000 equity indexes daily, with more than $18.3 trillion in assets under management benchmarked to them. These indices serve as blueprints for funds and portfolios, helping investors gain exposure to specific market segments.

Unlike the NASDAQ, which operates as both a stock exchange where companies list and trade and a composite index tracking those listings, MSCI focuses solely on index creation. The S&P 500, managed by S&P Dow Jones Indices, is similarly an index but targets the 500 largest U.S. companies by market cap. MSCI’s offerings, such as the MSCI World Index covering developed markets, provide broader global and thematic coverage, influencing trillions in investment decisions.

The issue began on October 10, 2025, when MSCI issued a consultation proposal to exclude companies with 50% or more of their assets in digital assets like Bitcoin or other cryptocurrencies from its Global Investable Market Indexes. The rationale: such firms operate more like funds than traditional businesses. The proposal named 39 companies, including Bitcoin holders like Strategy and Metaplanet. The announcement triggered an immediate market reaction, with Bitcoin experiencing a sharp intraday plunge of roughly $12,000 on the same day, marking the start of a broader price correction.

Broader awareness grew in late November 2025, when JPMorgan analysts highlighted the risks in a report, estimating $2.8 billion in outflows from Strategy alone and up to $8.8 billion if other index providers followed suit. This may have amplified selling pressure on affected stocks and contributed to Bitcoin’s ongoing pullback amid a broader market downturn. Estimates of total forced selling, if implemented, range from $10 billion to $15 billion over a year, per Bitcoin for Corporations (BFC) analysis.

The consultation period, open for stakeholder feedback, closed on December 31, 2025. BFC, a coalition accelerating corporate Bitcoin adoption, mobilized quickly. They launched a website detailing the proposal’s flaws, including a technical appendix outlining potential market impacts. BFC drafted a letter opposing the change, gathering over 1,500 signatures in two weeks and delivering it to MSCI on December 30. Eight of the 39 affected companies are BFC members.

After initial outreach, BFC held a call with MSCI’s head of research and leadership. “We had a very constructive conversation,” said George Mekhail, BFC’s executive director. “I think they were very much still in a listening and learning posture. I think a lot of this just really has to do with a lack of education and understanding of Bitcoin itself, as well as these Bitcoin treasury companies and the significance of their operating businesses.”

Mekhail noted the proposal appeared driven by genuine analytical concerns rather than malice, triggered by Metaplanet’s recent preferred share issuance, not Strategy’s larger holdings. A key gap: MSCI made no distinction between Bitcoin and other cryptocurrencies, treating all digital assets alike. This has fostered temporary alignment between Bitcoin advocates and the broader crypto sector in opposition, highlighting an ongoing education gap between the Bitcoin industry and Wall Street institutions.

Next, MSCI announces its decision on January 15, 2026. If approved, exclusions take effect February 1. Mekhail outlined three scenarios: implementation (worst case, forcing sales), a delay for further review (most likely, per his assessment), or full withdrawal (best case). Polymarket bettors currently give a 77% chance of Strategy’s delisting from MSCI by March 31.

Most financial fallout would hit Strategy, which holds the vast majority of affected Bitcoin treasuries. Founder Michael Saylor’s firm has engaged MSCI directly, issuing its own letter and working behind the scenes. Other opposition includes letters from Strive Asset Management and investor Bill Miller.

Industry pushback has been robust and visible, with no major groups publicly supporting the proposal. This asymmetry underscores Bitcoin’s organized, motivated constituency versus dispersed critics, echoing dynamics in recent political shifts like the 2024 U.S. election.

A withdrawal would boost corporate Bitcoin strategies; implementation could deter treasuries. As Mekhail put it, “The most bullish outcome is that they take it to heart and they withdraw the proposal.” The decision tests Wall Street’s adaptation to Bitcoin’s role in balance sheets.

The year 2025 has ended, and an unusual finding remains for the crypto market: Bitcoin ends the year with a loss of more than five percent.This means that 2025 marks a historic exception, as for the first time a year after a Bitcoin halving ended with a negative return.This development is particularly exciting given the last few weeks of the year.While global stock markets reached new highs and both gold and silver rose significantly, Bitcoin clearly lagged behind these asset classes.For many market participants, this raises the question of whether this is a temporary phase of weakness or a structural signal.

Accordingly, the focus is now on 2026 - and the on-chain analysts at CryptoQuant have presented three possible scenarios.

2026: Range remains the base scenario

From today's perspective, CryptoQuant's framework seems plausible: Bitcoin starts 2026 without a clean trend and remains in a "highly volatile sideways phase" rather than in a new bull market.The structural support, ETF access, long-term post-halving supply tightening and fundamentally robust demand at the core are real, but they are currently not enough to force lasting momentum.

The factors that have already dominated 2025 speak against this: macro uncertainty, politically charged US event risks and a market that is heavily “timed” via derivatives (open interest, liquidations) and therefore remains vulnerable to rapid changes in direction.

In this respect, the market environment remains difficult according to CryptoQuant, but the range is the base scenario.

This makes scenario A (“twisted range”) the most likely as a basis: a broad corridor from 80,000 to 140,000 US dollars, with a core zone around 90,000 to 120,000.What will be crucial is whether movements are confirmed: falling exchange reserves plus positive net inflows into spot/ETFs would be constructive, while rising reserves, ETF outflows and deleveraging in futures would rather suggest scenario B (a slide below $80,000).

But there is no bullish option at all.For this, the analysts refer to scenario C (risk-on up to 170,000). This remains possible, but requires several simultaneous tailwinds, especially stabilized ETF flows with falling funding/leverage excesses.

The experts also remain uncertain, but the base case is continued consolidation in the current range.

Bitcoin outflows give hope

The On-chain metric Bitcoin Exchange Net Position Change lprovides an important indication of how market participants position their holdings.It measures whether net Bitcoin flows to or is withdrawn from central exchanges.A positive value indicates potential selling pressure as coins are made available for trading.Negative values, on the other hand, signal outflows, i.e. the withdrawal of Bitcoin into private wallets or cold storage.

Exactly this second picture has been increasingly evident since the beginning of December 2025.A continuous net outflow of Bitcoin from exchanges has been observed over several weeks.Investors currently seem to show little willingness to sell and are positioning themselves more for the long term.Historically, this behavior is considered constructive because it reduces the immediately tradable supply.

The timing is particularly relevant: the outflows begin after a weak annual result and indicate that many market participants interpret the price levels more as an accumulation zone.This shows a cautiously positive outlook for 2026, even if it alone does not guarantee a new upward trend.

Bitcoin: Valuation drop opens up countercyclical opportunities

The On-chain metric Bitcoin Percent Supply in Profit meanwhile shows what proportion of the circulating Bitcoin supply is currently above the respective purchase price.Around the all-time high in October 2025, this indicator reached values ​​close to 100 percent - practically every Bitcoin held was in profit at that time.Historically, such extreme values ​​often mark overheated market phases.Accordingly, a clear correction movement followed, which was not only reflected in the price but also clearly in this key figure.

The proportion of profitable offers is currently around 65 percent, which is the lowest level in around two years. In previous cycles, declines below the 50 percent mark were even observed, so a further correction remains fundamentally possible.

At the same time, the current level signals that a large part of the speculative overvaluation has already been reduced.From a valuation perspective, Bitcoin is once again in a zone that has historically become increasingly interesting for long-term investors.

Even if further weakness cannot be ruled out in the short term, precisely such constellations could form the breeding ground for the first countercyclical strategies and gradual accumulation.

Crypto tip: Bitcoin Layer-2 as a potential price driver for 2026

With a view to 2026, technological developments that go beyond classic supply-demand models are also moving more into focus.A central topic is the further development of Bitcoin Layer 2 technologies.The aim of these approaches is to functionally expand the Bitcoin network without endangering its security or decentralization.Faster transactions, significantly lower fees and new use cases or programmable financial products could make Bitcoin more widely usable for the first time.This would mean that Bitcoin would not only be perceived as a store of value, but also increasingly as a productive infrastructure.If Layer 2 solutions succeed in attracting real-world usage and developer activity, this could create new structural demand for Bitcoin.

Direct to the Bitcoin Hyper Presale

Bitcoin Layer 2 solutions are increasingly seen as one of the most exciting developments in the crypto market.This is exactly where Bitcoin Hyper comes in.While Bitcoin has been established for years primarily as a digital store of value, new scaling approaches are now making it possible for the first time to create additional usage layers without compromising the security of the Bitcoin network.

Bitcoin Hyper positions itself as an extension of Bitcoin.The mainnet remains the final billing layer, while the Layer 2 structure provides a high-performance environment for applications.This allows known limitations such as slow transactions, low throughput rates and comparatively high fees to be addressed without compromising on decentralization or security.The approach aims to further integrate Bitcoin into areas such as programmable payments, decentralized finance applications and scalable settlement processes.

This year, a new financial product appeared on the cryptocurrency market - a crypto ETF, which makes it easier for large investors to buy top coins through well-known investment funds. In the winter, the world began to invest in Bitcoin ETFs, in the summer - in Ethereum ETFs. There are also talks about the prospects of widespread adoption of Solana ETFs2024. This trend can be seen in the Bitcoin price, which has risen by about a third since the beginning of this year - from 42.2 thousand US dollars to 59.1 thousand US dollars.Therefore, our editors decided to find out whether the popularity of crypto ETFs will help pull the price of famous coins out of the correction triggered by the fall in the value of cryptocurrencies and the US stock market in August.

Note: This material should not be considered financial or investment advice or an offer. Each crypto investor is personally responsible for decisions regarding investments in digital assets.

Did the cryptocurrency market recover in August

A serious correction in the top coins in the crypto market began in early August. According to Coinmarketcap, the tokens recorded a August the following decline:

• BTC fell to 49.8 thousand US dollars (early August – 64.8 thousand US dollars),
• ETH fell by $2226,000 (early August - $3196),
• SOL fell in price to $112,000 (early August - $170.8).

The overall decline in the Bitcoin price in the last summer month was 10.5%, Ether - 24%, Solana - 24.5%.

As we explained, a significant drop in the value of the top coins was caused by the Bank of Japan's decision to reduce the discount rate, as well as the release of weak quarterly reports by global technology companies. As a result, panic began among investors on theWorld Market:

• Shares of global tech giants plunged - Apple, Microsoft, Meta, etc.
• The yen-dollar pair experienced exchange rate fluctuations: the yen strengthened and the dollar fell.
• Investors have reconsidered their investment portfolios: They have withdrawn money from stocks and bought government bonds from various countries.

At the same time, despite the negative dynamics at the beginning of August, the price of these cryptocurrencies partially recovered. As of August 31, the coins cost:

• Bitcoin – 59.2 thousand US dollars,
• ether – $2524,
• solana - $137,

Experts believe that cryptocurrency attempts to return to pre-August levels are caused by two key factors:

1.Period after the halving.We would like to remind you that according to the technological model of digital gold, a halving of Bitcoin occurs every four years worldwide.After that, Bitcoin could rise to new historical highs within 6 months. This year, crypto investors expect such growth in October.

"This year's halving hasn't worked yet, so we can expect growth, but only after the election of the new US president, which will take place on June 5th. November will take place,” says financial advisor Mikhail Patsan.

2.In 2024, the crypto market will be greatly affected by the popularity of spot bitcoin ETF. The fact is that from time to time there is a significant capital inflow into cryptocurrencies and then the probability is greaterthat the cryptocurrency price is rising.

What investment amounts affect the dynamics of the coin exchange rate?Let's give an example.According to data Sosovalue came in the lastAugust week saw an outflow of $277 million from Bitcoin- ETF.But a week earlier, there was an inflow of money into the BTC ETF: institutions then invested around $506.7 million in this instrument.That is, in the last two weeks there has been a positive trend in investments in bitcoin-ETF.

In general, financial analyst Andrey Shevchishin is confident that the positive sentiment of the Bitcoin exchange rate this year will be most influenced not by the halving, but by the inflow of money from large investors in cryptocurrencies through ETF funds.

"Halving traditionally has an impact on the price of digital gold. However, the main factors influencing the crypto market were ETFs, stock market regulation and the sale of confiscated or frozen assets," notes the expert.

How crypto ETFs are changing the cryptocurrency market

The emergence of crypto ETFs allows us to move digital coins from the gray area into the legal realm, as the instrument has become a simple and familiar investment method for most, notes financial analyst Andrey Shevchishin.

Financial advisor Mikhail Patsan agrees that crypto ETFs have become very popular.For understanding, it provides the investment statistics for the second quarter of 2024.

"Institutional investors have significantly increased their investments in crypto ETFs, especially Bitcoin ETFs, as seen in the second quarter of 2024. Growth in institutional investments reached 27% during this period, a sign of investor confidence in the long-term potential of cryptocurrenciesis.The share of institutional investors in the total assets under management (AUM) for crypto ETFs rose from 21.4% to 24% in the second quarter alone, reflecting a significant increase in interest from major players.– explains the boy in a comment to Delo.ua.

What are the prospects for crypto ETFs in the cryptocurrency market

Andrey Shevchishin notes that the crypto ETF has not yet shown the full potential of the cryptocurrency market in the legal field. The fact is that when comparing the capitalization of crypto funds and traditional stock or bond funds, it becomes obvious that crypto is still an underdog. However, the crypto market is still at the beginning of its legalization. Investors' interest in digital coinsgrows.

Hyperliquid (HYPE)

HYPE, a token from the decentralized exchange Hyperliquid, has appeared on our list for the second time. This week, the price of HYPE increased by 48.60% and reached a new high of $21.48.

The ongoing rally is due to increased demand for altcoins. The fact that some participants in the HYPE airdrop have not sold their tokens and the asset is not yet traded on central exchanges also contributed to the growth.

If the situation does not change, the price of HYPE may continue to rise. However, if holders start actively taking profits, the token will inevitably face a correction.

Virtuals Protocol (VIRTUAL)

VIRTUAL has increased significantly in price due to increased interest in AI agents. In the last 7 days, the altcoin price has increased by 41.50% and is now at $2.57. The Bull Bear Power (BBP) indicator on the daily chart is in positive territory, indicating continued buying pressure.

If the trend continues, VIRTUAL could rise even further. However, if the bears gain the upper hand, the altcoin risks a correction to $1.18.

Aave (AAVE)

AAVE concludes our list of weekly leaders. Over the past few days, the token price has surged 36.20% as whales continue to accumulate and news that Donald Trump-affiliated crypto project World Liberty Financial has added AAVE to its portfolio.

Awesome Oscillator (AO), an indicator that measures momentum, suggests that the rally could continue. If the trend continues, the price of AAVE could rise to $440. However, if altcoin holders decide to take profits, the asset will face a correction towards $309.42.

US authorities have seized over $30 million worth of cryptocurrency.According to crypto intelligence firm Chainalysis, this is digital money that the North Korea-linked hacker group Lazarus stole from the makers of the popular online game Axie Infinity.

The company said in a blog post that it was involved in the recovery alongside US law enforcement and other crypto organizations.The seizures represent about a tenth of the total funds stolen from the blockchain game in March, according to Chainalysis, according to Chainalysis.

More than a billion dollars stolen

"We estimate that North Korea-affiliated groups have stolen approximately $1 billion in cryptocurrency from DeFi protocols so far in 2022," the company also said.Chainalysis was referring to decentralized financial protocols, a generic term for financial services offered on public blockchains.

In order to hide the money from the authorities and exchange it for real currencies, the attackers are said to have used the Tornado Cash service, among other things.Because of its ties to North Korea, US authorities imposed sanctions on the platform in August, mixing money flows and thus facilitating money laundering.A 29-year-old developer of the service was arrested in the Netherlands.

Crypto exchange Coinbase said Thursday it is funding a lawsuit against the U.S. Treasury Department to block sanctions that bar Americans from accessing Tornado Cash.In the lawsuit filed Thursday in a U.S. district court in Texas, six Tornado Cash users accused the Treasury Department of violating constitutional rights to free speech and exceeding its authority in sanctioning the cryptocurrency mixer.

The lawsuit alleges that while the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has certain sanctions authority, its jurisdiction does not extend to software code and smart contracts.»Tornado Cash is not a person, entity or organization. “It is a decentralized, open-source software project that restores the privacy of Ethereum users,” the lawsuit says.

White House complains about energy consumption

But this argument has increasingly less political support.The White House has now presented a new report that complains about the high energy consumption of cryptocurrencies, which have no positive effects.The authors of the report recommend restrictions if operators do not switch to techniques such as “Proof of Stake”, which use significantly less energy.

According to the Washington Post, the US Securities and Exchange Commission (SEC) is also preparing several reports according to which crypto forms of investment could endanger the financial stability of the USA.The SEC also wants to put a greater focus on investment fraud in these markets.

Welcome to Latam Insights, a collection of the most relevant crypto and business news from Latin America from the past week.In this episode: El Salvador could have a strong gold-to-Bitcoin trade, Argentina opens the door to foreign cryptocurrency ETFs, and Brazil could lift its ban on self-custody stablecoins.

Salvador discovers $3 trillion worth of gold – will it all flow into Bitcoin?

El Salvador's President Nayib Bukele has highlighted the potential of the country's undiscovered gold reserves, estimating their value at $3 trillion if fully explored.

The president cited studies suggesting that only 4% of the country's mining sites have been explored and about 50 million ounces of gold worth $131 billion have been unearthed - about 380% of El Salvador's GDP. He estimates that a comprehensive study could increase the value of the reserves to more than $3 trillion, or 8,800% of GDP.

Max Kaiser, a prominent Bitcoin proponent, suggested monetizing gold reserves for Bitcoin investment, which was in line with Bukele's vision. He suggested selling preferred shares to finance massive Bitcoin purchases, arguing that the cryptocurrency's growing dominance over gold makes it a more valuable long-term asset. Going forward."

Argentina opens investment opportunities in foreign cryptocurrency ETFs

Argentina is opening its doors to more investment opportunities every day thanks to President Miley's libertarian policies.CNV, Argentina's securities regulator, has announced a market-level move to allow the entry of foreign investment proposals related to several cryptocurrency ETF opportunities, including Ethereum and Bitcoin, gold and even a Chinese stock index.

These investments will be available on the stock markets under the guise of CEDEARs.These are Argentine certificates of deposit issued by commercial or investment banks that have an agreement with the foreign companies that issue these instruments.Investors effectively use these institutions as bridges because they are legally required to be hedged 1:1 with the underlying assets.

Currently, the share of tokenized instruments does not exceed 0.01% of the global stock and bond market.Grayscale is confident that as the segment develops, the value of blockchains for processing transfers will increase.

They believe that the main beneficiaries of the market changes will be Ethereum, Solana and BNB Chain and that the main infrastructure foundation will probably be Chainlink.

At the same time, tokenized assets require a new generation of blockchains that can provide high throughput and minimal transaction costs - all this is necessary to serve the turnover of the company's capital, the investment company's experts explained.

In addition to RWA, stablecoins and decentralized finance (DeFi) will be the drivers of the crypto market in the next few years. Grayscale hopes that legislative initiatives in the United States should increase the use of stablecoins in international payments.

In the decentralized finance market, most of the liquidity will be concentrated on multiple platforms such as Uniswap and Aave, investment company analysts suggested.

Greg Cipolaro, head of research at Bitcoin New York Digital Investment Group (NYDIG), previously said that the main problem with real-world tokenized assets is that they still operate in closed ecosystems.

The world's first stablecoin directly pegged to the Japanese yen launched in Japan on Monday.

This is a small but significant change in a country where consumers have traditionally preferred cash and credit cards.

Japanese startup JPYC has started issuing stablecoins, also known as JPYC, that are fully convertible into yen and backed by domestic savings and Japanese government bonds (JGB).

JPYC CEO Noritaka Okabe has outlined an ambitious goal of issuing 10 trillion yen (or $66 billion) worth of stablecoins over the next three years. The company hopes to see widespread use of the digital asset, especially abroad.

To encourage early usage, JPYC does not plan to charge transaction fees. The company wants to earn interest from JGB's ownership, which serves as collateral.

What is known about stablecoins

Blockchain-based stablecoins are known for enabling faster and cheaper fiat-pegged transactions.

According to the Bank for International Settlements, US dollar-pegged stablecoins have surged thanks to strong support from US President Donald Trump and now account for more than 99% of the global stablecoin supply.

Interest in stablecoins is also increasing worldwide, and three Japanese megabanks will jointly issue stablecoins.

Recall that Dante Disparte, head of global policy at Circle, the issuer of the USDC stablecoin, believes that stablecoins can become the main means of payment in the world in the near future.