Top stories today:

1. Biden administration to defer TikTok ban decision to Trump
2. Trump said to order crypto as national priority, create reserve
3. Nintendo’s Switch 2 with kickstand design revealed, stock -6%
4. Solana proposed adopting new emission model amid inflation concerns
5. Bay Area leads in U.S. VC funding, with 38%, followed by NY, LA

0. Data and calendar

We'll be out on Monday as it’s Martin Luther King Jr. day (also Trump’s inauguration at 12 PM ET), but back on Tuesday.

Listen to our AI-generated podcast summarizing today’s 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 doesn’t require TikTok to go dark.

• App stores and internet service providers will likely cut TikTok’s connections with the U.S. users, though, to comply with the law.

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.

Relatedly, a Crypto Ball party will be hosted today by the industry to celebrate Trump’s inauguration

• $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.

4. Nintendo’s Switch 2 with kickstand design revealed, stock -6%