Bitcoin marks third straight weekly gain for the first time since July: CNBC Crypto World

Watch on YouTube ↗  |  January 16, 2026 at 20:07  |  14:11  |  CNBC
Speakers
Cathie Wood — Founder/CEO/CIO, ARK Invest
Mike Novogratz — CEO, Galaxy Digital
Rebecca Rettig — Chief Legal & Policy Officer, Polygon Labs
Brandon Gomez — Reporter, CNBC

Summary

Major cryptocurrencies ended the week lower, but Bitcoin still notched a third straight weekly gain and Ether rose for the week. CNBC Crypto World covered Washington headlines including the postponed Senate Banking Committee crypto market structure bill hearing, stablecoin-reward tensions between banks and crypto, and DeFi provisions in the draft bill. Cathie Wood said the October crypto flash crash leverage has washed out and the ecosystem is stabilizing, while Rebecca Rettig discussed the bill's path and DeFi developer protections.

  • Bitcoin and Ether fell Friday but posted weekly gains; XRP ended lower.
  • Washington headlines included Fed independence concerns and geopolitical risk in Iran and Greenland.
  • Riot shares rose after an AMD data center lease and services agreement.
  • Senate Banking Committee postponed its crypto market structure bill markup.
  • Stablecoin rewards remain a key dispute between banks and crypto firms.
  • Rebecca Rettig discussed DeFi developer protections and the bill's likely next steps.
  • Cathie Wood said crypto leverage from the October flash crash has washed out.
Ideas
Cathie Wood Founder/CEO/CIO, ARK Invest 1:09
Leverage washout leaves crypto stabilizing.
Wood says the October 10 flash crash forced out about $28 billion of leveraged crypto positions and that this correction has washed out of the system, leaving the broader crypto asset ecosystem on the other side of the deleveraging and stabilizing. This supports Bitcoin and crypto assets.
BTC BITO HIGH
Mike Novogratz CEO, Galaxy Digital 3:21
Stablecoin rewards threaten bank deposits.
Novogratz says stablecoin rewards are a threat to big banks because banks pay near-zero savings rates while earning 3.5%-4% at the Fed; if stablecoins can offer yield, depositors could move funds and cause deposit flight, pressuring the bank model and stalling the market-structure bill.
JPM BAC KBE MED
Rebecca Rettig Chief Legal & Policy Officer, Polygon Labs 8:44
Stablecoin yield threat to banks overblown.
Rettig argues concerns over stablecoin rewards are overblown and that paying yield on stablecoins is unlikely to materially change the use or mix of bank deposits, especially for community banks, although banks themselves see a long-term threat.
KBE KRE MED
Rebecca Rettig Chief Legal & Policy Officer, Polygon Labs 10:17
US DeFi regime first-of-kind.
Rettig says the Senate bill is the first serious regulatory framework anywhere for DeFi, and while Title III needs changes, a U.S. regime that clarifies rules for DeFi protocols and provides developer protections would be constructive for permissionless DeFi to continue being built in the U.S.
DeFi protocols MED
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This CNBC video, published January 16, 2026, features Cathie Wood, Mike Novogratz, Rebecca Rettig discussing BTC, BITO, JPM, BAC, KBE, KRE, DeFi protocols. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Cathie Wood, Mike Novogratz, Rebecca Rettig  · Tickers: BTC, BITO, JPM, BAC, KBE, KRE, DeFi protocols