Crypto NFT Today: January Week 4
Welcome to another edition of Crypto NFT Today! The past two weeks have been full of must-know events that will define the future of blockchain, cryptocurrency, and NFTs.
With a huge Bitcoin profit reported for Tesla this week, Fairshake announcing money that has the potential to influence the 2026 election, and more, there’s lots of essential news you should know about. So, let’s dive in and see what’s happening!
$600 Million Bitcoin Profit for Tesla
Tesla’s Bitcoin holdings contributed to a significant surge in reported net income for the fourth quarter, thanks to a recent change in accounting rules for digital assets. Tesla’s digital asset value jumped from $184 million over the past four quarters to $1.08 billion for the December period, according to its earnings release on Wednesday.
This increase follows a recent policy shift by the Financial Accounting Standards Board (FASB), which now requires companies to mark their digital asset holdings to market each quarter, starting in 2025. Prior to this change, companies that owned Bitcoin had to report their holdings at the lowest value recorded during their ownership, even if the asset’s value increased later.
Fairshake Announces Money to Influence 2026 Election
Fairshake, the super PAC funded by some of crypto’s biggest backers, revealed Thursday that it has $116 million in cash on hand, positioning itself with a substantial war chest for the 2026 midterm elections. The fundraising total, which includes $11 million in new contributions, solidifies Fairshake as one of the most powerful political forces in the country.
“With the midterms approaching, we are ready to continue supporting candidates who are dedicated to advancing innovation, creating jobs, and implementing thoughtful, responsible regulation,” Fairshake said in a statement.
Updates on Trump Memecoins
Several online marketplaces selling Donald Trump-branded merchandise—such as GetTrumpWatches.com, GetTrumpFragrances.com, and GetTrumpSneakers.com—have begun accepting the Trump memecoin (TRUMP) as a payment method, in addition to credit cards and Bitcoin (BTC).
Payments via TRUMP will be processed through Solana Pay, a decentralized payment system that enables users to send money directly to merchants without intermediaries. According to the website’s FAQ, the watches are made-to-order and will start shipping in October. These products are not sold directly by Trump but are part of a licensed partnership with CIC Digital LLC, the company responsible for issuing the TRUMP tokens.
Bob Menendez Sentenced to Prison
Former U.S. Senator Bob Menendez, a vocal crypto skeptic, was sentenced to 11 years in prison on Wednesday after being convicted on charges of bribery and acting as an agent for Egypt.
Menendez, a Democrat from New Jersey, was known for his strong criticism of cryptocurrency. He once described Bitcoin (BTC) as an “ideal choice for criminals” and opposed El Salvador’s adoption of BTC. “You were successful, powerful, you stood at the apex of our political system,” District Judge Sidney H. Stein told Menendez, as reported by AP.
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