Paramount Skydance to acquire Warner Bros Discovery in $110B deal as PSKY jumps 20% and Netflix rises 13%.

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Magic Eden to shut Bitcoin and EVM marketplaces and wallet as it pivots to Solana and iGaming platform Dicey.

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Morgan Stanley's move could accelerate mainstream adoption of digital assets, enhancing trust and integration within traditional finance.

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Precious metals surge as gold tops $5,250 and silver exceeds $93, driven by economic fears and demand for safe-haven assets.

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Ethereum Foundation launches Project Odin to help public goods teams diversify funding and reduce long term grant dependence.

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Bitcoin Magazine

DCTRL Vancouver: Iconic Bitcoin Hackerspace Closes Downtown Location After 12 Years Due to Zoning Changes

DCTRL, a Bitcoin hub and hacker space out of Vancouver, the fair-weather Canadian city, has announced the sunset of its downtown basement location, iconic among early adopters for its tinkerer mindset and hardware hacker culture. The community will be migrating to a new location in the coming weeks, and updates to the vision of the hub. The Vancouver Bitcoin community is renowned for having set up the first Bitcoin ATM in History, with DCTRL specifically having hosted a variety of renowned characters that, over the years, gave this industry much of its cultural and innovative flair. 

Visited by some of the most influential people in the Bitcoin and broader Crypto industry in its 12 year run, DCTRL is far from done being a hub of the Canadian Bitcoin and Crypto scene. Preparing to move due to a change in zoning laws, plans to relaunch in a new location are in the works, as active members consolidate the historical moments, relationships, and lessons learnt during perhaps the longest-running Bitcoin hackspace experiment in the young industry’s history.

It all started at Waves cafe on Howe Street, in Vancouver. The Bitcoiniacs, a group of four OGs that operated a Bitcoin brokerage at the time — still active to this day — decided it was time to get the robots involved. So they rigged up an ATM to sell bitcoin to the public, rallied the local Vancouver tech, finance, and burgeoning crypto scene, and hosted a historical launch party. 

“The first Bitcoin ATM in the world was a massive event,” said Freddie Heartline, a Bitcoin enthusiast and co-founding member of the DCTRL hacker space. In an exclusive interview with Bitcoin Magazine, Heartline went on to recall the event, saying, “Oh man, the vibes were incredible. It literally felt like a really good rave. But it was smarter. Way smarter. That’s how it all came about, actually.” referring to the founding of DCTRL.  

The timing for the Bitcoin ATM event was perfect, it was October 2013 and bitcoin had just gone from a few dollars to almost 150, consolidated for a few weeks around 100 and was getting ready to take a shot at 1,000 a coin. The energy across the Bitcoin community as electric, this was the end of the longest bear market in Bitcoin history, in a way this rise in price was proof that Bitcoin was here to stay.

The launch of the first Bitcoin ATM, as a result, made national and international news. The idea of a Bitcoin ATM being operational was considered a historical milestone in the adoption of Bitcoin as money. 

Tens of thousands of Canadian dollars worth of bitcoin were sold that day and over the coming weeks, likely creating a few millionaires over the years, spawning copycat ATM projects and even a handful of Bitcoin ATM manufacturing companies to boot. It also inspired the creation of the DCTRL hacker space, called “Decentral Vancouver” at the time. 

Cameron Gray, another Bitcoin enthusiast who was volunteering with the Bitcoiniacs event and a friend of Heartline, was the one who had the idea. “Cam was absolutely an essential part of founding Decentral.” Heartline recalled “He literally turned to me one day – as he was operating the bitcoin ATM at Waves – after I complained about the lighting at the coffee shop – and said ‘we should open a space.’ And that was it.”

Soon, they had secured a basement location in downtown Vancouver, grimy, humid, but cozy. Over the years, this spot became a hub for Bitcoin engineers, founders, crypto enthusiasts, and eventually legends. The decor got better, the leaks patched, and the walls decorated with Bitcoin art. The empty spaces filled up with hardware of all kinds, modified to operate or somehow interact with the orange coin. 

Heartline and Gray were starting a lifestyle project of sorts, and while Bitcoin may have been doing well at over $1,000, it would soon correct back to $300, another bear market, which had important consequences for the industry. During that time, the bills for DCTRL’s rent had to be paid somehow, and so Heartline moved in. Not into the basement, but onto the rooftop. In order to keep the lights on during that bear market, he literally set up a tent. Not a bad setup either if you have a look.

DCTRL started hosting meetups, the Vancouver Startup Weekend community got wind of it, and a gentleman known as Greg began to visit the hub. Soon enough, the Startup Weekend events were taking place at DCTRL as well, pulling in the local tech startup scene. Before long, even Vitalik Buterin, founder of Ethereum and former writer for Bitcoin Magazine, showed up. 

Greg had another important contribution to DCTRL; he made a donation that created a symbol for the local community. He donated $500 to the space with one condition: “It has to be used for something creative …” Heartline recalled, “so I found a Pepsi machine on Craigslist. Greg even helped us move the thing in a pickup. Him, me, Cam, and Mike Olaff moved that fucking insanely heavy and awkward thing down the stairs – lol almost killing Cam.” The Pepsi machine would soon get backwards engineered, hacked, and rebranded to the Bepsi, for obvious Bitcoin reasons.

In the above video, you can see Greg making an on-chain transaction to the pop machine, milliseconds later dropping a soda for him on Q. The satisfying sound of Bitcoin being used as money for the small pleasures of life became a staple of DCTRL. A digital version of the Bepsi was eventually made, which fans from all over the world used to make donations. Many iterations of the underlying software took place over time, rig-wired into the Cold War era pop machine with a Raspberry Pi and some hacker ingenuity. A decade later, even the Mayor of Vancouver Ken Sim, dropped by to pay homage to this staple of Vancouver hacker culture, this time buying a soda from Bepsi with a lightning payment. 

Today, the Bepsi supports practically every Bitcoin protocol, a testing ground for the cutting edge of Bitcoin technology, including protocols like Taproot Assets, Spark, and Arcade OS. “We even issued our own Bepsi token. One Bepsi equals one soda from the Bepsi machine… it’s like a stable coin… pegged to the price of the pop can.” said Heartline. The Bepsi, which in a way was inspired by the Bitcoin ATM, also inspired copycats, such as the 21up vending machine hosted in a nearby Blockchain lab known as MintGreen. To this day, funds collected by the Bepsi machine have gone to support the operation of the hacker space and cover costs, serving as a cornerstone of the community. Control over the Bepsi’s underlying wallets and tech stack in a way setting rank among the most active members and hosts. 

Visited by Legends

Throughout the years, big names within the industry visited or engaged with DCTRL in one way or another. Vitalik Buterin personally visited the space and hung out there in the very early days of Ethereum, as demonstrated by this photograph hung on their wall, featuring Gray, Heartline, Vitalik, and another active member referred to as Kyle. 

The founders of CaVirtex, the first Canadian Bitcoin exchange, were also photographed there. This brand is little known now as they were bought out by Kraken years later, but they had a deep influence on the Canadian Bitcoin scene, selling the coin to Canadians since before the first bull run, which peaked at $30 per coin. Without this exchange, many of the big Canadian Bitcoiners may not have gotten in. 

Virtually, Bitcoin celebrities also attended DCTRL events throughout the years, answering questions from the local crowd, such as Roger Ver, before the fork wars, Andreas Antonopoulos, and Willy Woo. Erik Vorhees, who came to fame in Bitcoin for creating the first major instant swap, crypto-to-crypto exchange called ShapeShift, is seen in this video doing a fireside chat at DCTRL during a local meetup. 

Even one famous scammer attended the hub, a man who was a regular in the Canadian Bitcoin scene in the 2014 era, and who to this day remains one of the unsolved mysteries of crypto-related crime, Gerald Cotten of QuadrigaCX. Cotten, whom I personally met multiple times in Toronto at the time, was a charming and smooth-talking entrepreneur in the scene at the time, before his turbulent professional history was revealed and the exchange went down in bankruptcy, leaving millions of dollars of user funds unpaid. Cotten allegedly died suddenly and mysteriously in India just before the exchange went bankrupt, taking the crypto keys with him, but many who were personally affected by this centralized exchange collapse are skeptical of that story. 

Further evidence of DCTRL as a microcosm of the industry as a whole was seen years later during the fork wars, as Gray, the other primary co-founder of the hub, took the ‘big block’ side of the debate, resulting in intense debates and ultimately a falling out with the local community and broader Bitcoin scene. Gray, nevertheless, is highly respected and appreciated by the active members of DCTRL for his contributions to the DCTRL social scene, which would inevitably suffer from the same forks and tensions that the Bitcoin protocol went through at the time. 

During those difficult times, DCTRL served as a forum and debate space for these topics, even hosting Peter Rizun of the alternative implementation Bitcoin Unlimited — a big blocker — who debated Taylor, seen on the right in the photo below. 

Overall, DCTRL enjoyed more than 12 years of continuous operation, boasts hundreds of events hosted, over 1500 registered community members, and 69 recorded talks published on YouTube, which touched many elements of the Bitcoin and crypto industry. Throughout this whole time, the hub was operated entirely by volunteers and sustained through public donations and, of course, the Bepsi. 

As the location of DCTRL gets rezoned by the city government, and a new building will be going up in its place, the active members and hosts of DCTRL, which include NAMES, have begun organizing a transition to a new location, alongside an update to the brand and 

According to DJ, one of the active members who prefers to stay pseudonymous, the hub has had record attendance in recent months. And while the location will change, its future is brighter than ever. Those who would like to be a part of the future of DCTRL can learn more at www.DCTRL.wtf. 

This post DCTRL Vancouver: Iconic Bitcoin Hackerspace Closes Downtown Location After 12 Years Due to Zoning Changes first appeared on Bitcoin Magazine and is written by Juan Galt.

Bitcoin Magazine

Senate Democrats Press DOJ, Treasury to Probe Binance Over Trump Ties, Iran Sanctions Allegations

Eleven Democrats on the U.S. Senate Banking, Housing, and Urban Affairs Committee are pressing the Trump administration to investigate Binance over allegations that the exchange facilitated illicit finance activity tied to Iran and may be violating its 2023 federal settlement.

In a letter sent Friday to Attorney General Pam Bondi and Treasury Secretary Scott Bessent, the senators urged the Justice Department and Treasury to conduct a “prompt, comprehensive review” of Binance’s sanctions compliance controls. 

The lawmakers cited recent media reports alleging that billions of dollars in digital assets flowed through the platform to Iranian entities, including groups linked to terrorism.

The letter was led by Sen. Mark Warner and signed by Ranking Member Elizabeth Warren along with Sens. Chris Van Hollen, Jack Reed, Catherine Cortez Masto, Tina Smith, Raphael Warnock, Andy Kim, Ruben Gallego, Lisa Blunt Rochester and Angela Alsobrooks.

According to the senators, Binance compliance personnel uncovered evidence last year that roughly $1.7 billion in digital assets had been routed through the exchange to Iranian entities, including the Iran-backed Houthis and the Islamic Revolutionary Guard Corps. 

In one instance, a Binance vendor allegedly moved $1.2 billion in funds connected to Iran-linked actors. The letter also claims that Iranian users accessed more than 1,500 Binance accounts and that the platform may have been used in efforts by Russian actors to evade sanctions.

The lawmakers raised concerns that employees who identified the transactions were dismissed and that Binance has become less responsive to law enforcement requests. They argued that such actions would conflict with the company’s obligations under its 2023 plea agreement and related settlements.

In 2023, Binance pleaded guilty to federal charges including violations of U.S. sanctions laws and anti-money laundering failures. The company agreed to pay more than $4 billion in penalties and committed to sweeping reforms under U.S. supervision, including enhanced know-your-customer procedures and sanctions screening. 

The senators contend that the latest reports call into question whether those reforms have been implemented and maintained. In its settlement with the Treasury’s Office of Foreign Assets Control, Binance committed to implement controls capable of identifying and blocking prohibited transactions. 

Allowing $1.7 billion in digital assets to move to sanctioned Iranian entities, they wrote, would be inconsistent with that commitment.

Binance and President Donald Trump

The letter also touched on Binance’s recent business relationships involving President Donald Trump and his family’s crypto ventures. Lawmakers pointed to the exchange’s promotion of USD1, a stablecoin issued by World Liberty Financial, a Trump family-backed project.

According to the letter, Binance offered interest incentives for users holding USD1, assisted with technology related to the token and accepted a $2 billion investment tied to it.

The senators further referenced Trump’s pardon last fall of Binance founder Changpeng Zhao, who had pleaded guilty to failing to implement an effective anti-money laundering program and served a four-month prison sentence. 

The lawmakers argued that these connections heighten the need for what they described as a “thorough, impartial” probe.

Binance’s dubious ties with Russia

Beyond Iran-related concerns, the letter cites Binance’s recent launch of crypto-linked payment cards in parts of the former Soviet Union. The senators warned that similar products have been used to bypass restrictions on the Russian financial system. 

They also noted the exchange’s partnership with Kyrgyzstan to launch a stablecoin and digital currency initiative, raising questions about exposure to sanctions evasion risks.

“These allegations raise grave concerns that poor illicit finance controls at Binance remain a significant threat to national security,” the senators wrote. They warned that weak safeguards at the world’s largest digital asset exchange could allow terrorist groups or sanctions evaders to access the global financial system.

A Binance spokesperson disputed the allegations, stating that the company detected and reported suspicious activity and that claims it retaliated against compliance staff are false. 

The company has said it remains committed to meeting its regulatory obligations under the 2023 agreements.

The senators requested a response from Bondi and Bessent by March 13.

This post Senate Democrats Press DOJ, Treasury to Probe Binance Over Trump Ties, Iran Sanctions Allegations first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Sora Ventures-Backed Bitplanet Reaches 300 Bitcoin, Ranks Among Asia’s Top 20 Corporate Holders

Bitplanet Inc. has accumulated 300 BTC through a structured purchase program, positioning the South Korea-listed company among the top 20 corporate Bitcoin holders in Asia.

The company, backed by Sora Ventures, began building its BTC treasury in the fourth quarter of 2025. Its most recent purchases were carried out in phases between Feb. 23 and Feb. 26 via Upbit, one of South Korea’s largest cryptocurrency exchanges. 

The BTC will be held with a professional custody provider, the company told Bitcoin Magazine.

Chief Executive Paul Lee said Bitplanet is focused on more than balance sheet exposure. “We are not simply accumulating Bitcoin,” Lee said in a statement. He added that the company plans to explore operational strategies that could contribute to revenue generation and cash flow over time, linking BTC treasury management with artificial intelligence computing initiatives.

Bitplanet said it views Asia as a key driver of the next phase of digital asset treasury adoption and aims to position itself as a transparent, institutional-grade corporate holder of Bitcoin. 

The company said it may expand its holdings further, subject to market conditions, regulatory developments, and financing availability.

Corporate bitcoin strain

The firm counts several digital asset treasury investors among its backers, including Simon Gerovich of Metaplanet, as well as AsiaStrategy, UTXO Management, KCGI, Kingsway Capital, and ParaFi Capital.

Metaplanet did post a net loss of 95 billion yen ($619 million) for fiscal 2025, driven by a 102.2 billion yen ($665.8 million) valuation decline on its bitcoin holdings. 

The disclosure marks the latest example of a corporate bitcoin buyer facing pressure as the cryptocurrency’s price slid from record highs in October.

The company closed the year with 35,102 BTC, valued at approximately $2.4 billion, making Metaplanet the fourth-largest public corporate BTC holder globally, behind Strategy.

Since it began accumulating BTC 21 months ago, Metaplanet has spent nearly $3.8 billion, averaging $107,000 per coin, according to data from two weeks ago.

Last quarter, when Sora Ventures unveiled its plans at Taipei Blockchain Week, the firm said it plans to purchase $1 billion in BTC within six months, backed by a $200 million initial commitment from regional partners. 

Today, Bitcoin (BTC) is trading near $65,000, drifting lower from mid‑week highs near $70,000 amid persistent selling pressure across crypto markets.

This post Sora Ventures-Backed Bitplanet Reaches 300 Bitcoin, Ranks Among Asia’s Top 20 Corporate Holders first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

U.S. Government Seizes Over $580 Million in Crypto Linked to Southeast Asian Scams

U.S. Attorney Jeanine Ferris Pirro said federal authorities have frozen and seized more than $580 million in cryptocurrency tied to Southeast Asian scam networks, marking a major escalation in the government’s campaign against cross-border crypto fraud.

The funds were restrained through the Justice Department’s Scam Center Strike Force, a task force formed in November to target cryptocurrency investment and confidence schemes linked to Chinese transnational criminal organizations. 

Officials said the groups use social media platforms and text messaging to target U.S. victims and siphon billions of dollars each year. Recent estimates place annual losses to Americans near $10 billion.

“In only three months, we have made significant progress, freezing, seizing, and forfeiting cryptocurrency worth more than $578 million from these criminals,” Pirro said in a statement. She said her office will seek forfeiture through the courts and aims to return funds to victims.

Authorities describe the schemes as “pig butchering” operations, in which fraudsters build relationships with victims before steering them into fraudulent crypto investments. Victims are persuaded to purchase legitimate digital assets and then transfer them to counterfeit trading platforms controlled by the scam networks.

The operations often run out of secured compounds in parts of Southeast Asia, including Burma, Cambodia, and Laos. U.S. officials said some workers inside the compounds are trafficking victims who are forced to carry out scams under threat of violence. In certain areas, revenue generated from scam activity accounts for a large share of local economic output.

The Strike Force is focused on identifying senior figures within the criminal networks, including organizers and money launderers who move proceeds through blockchain transactions and shell accounts. Investigators are tracing funds across exchanges and wallets to disrupt cash-out points and freeze assets before they are dispersed.

The initiative brings together the U.S. Attorney’s Office for the District of Columbia and several Justice Department divisions, along with the Federal Bureau of Investigation, the U.S. Secret Service, and the Internal Revenue Service’s Criminal Investigation unit. U.S. Attorney’s Offices in Rhode Island and the Western District of Washington are also participating.

The Justice Department said the Strike Force will continue targeting infrastructure, financial channels, and leadership structures tied to the fraud networks.

Crypto crime hit $154 Billion last year

Data from Chainalysis shows illicit crypto addresses received at least $154 billion in 2025, a 162% year-over-year increase, with sanctioned entities driving much of the surge. Nation-states including Russia, Iran, and North Korea played an outsized role, leveraging blockchain infrastructure for sanctions evasion, money laundering, and large-scale thefts.

Stablecoins accounted for 84% of illicit transaction volume, the report said. 

The report also highlights the expansion of Chinese money laundering networks offering “laundering-as-a-service” and other full-stack illicit infrastructure. Although illicit activity still represents less than 1% of total crypto volume, the scale and geopolitical dimension of the activity pose rising risks for regulators, law enforcement, and national security.

This post U.S. Government Seizes Over $580 Million in Crypto Linked to Southeast Asian Scams first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

MARA Holdings (MARA) Stock Jumps After $1.71B Loss as Firm Pivots to AI Data Centers

Shares of MARA Holdings climbed 13% in premarket trading Friday, even after the Bitcoin miner reported a $1.71 billion net loss for the fourth quarter, as investors focused on the company’s shift toward artificial intelligence and high-performance computing.

The company posted a net loss of $1.71 billion for Q4 2025, compared with net income of $528.3 million during the same period a year earlier. Revenue for the quarter fell 6% to $202.3 million, according to a filing with the Securities and Exchange Commission, as lower Bitcoin prices offset gains from higher network hash rate.

The largest driver of the quarterly loss was a $1.5 billion negative revaluation of digital assets following a decline in the price of Bitcoin. Under fair-value accounting rules, companies must adjust the carrying value of their digital asset holdings each quarter to reflect market prices, creating swings in reported earnings.

For the full year 2025, MARA reported a net loss of $1.31 billion, compared with net income of $541 million in 2024. Annual revenue rose to $907.1 million from $656.4 million the prior year, reflecting expanded operations and increased Bitcoin production earlier in the cycle.

During the fourth quarter, MARA mined 2,011 BTC, down 6% from the third quarter and below the 2,492 BTC mined in the year-ago period. Total production for 2025 reached 8,799 BTC, compared with 9,430 BTC in 2024.

As of Dec. 31, the company held 53,822 BTC, including 15,315 BTC pledged as collateral. Based on a quarterly price of $87,498 per coin, the value of its Bitcoin reserves stood near $4.7 billion at quarter’s end.

 Over the past six months, MARA shares have fallen roughly 45%, reflecting pressure across the mining sector tied to Bitcoin price volatility and post-halving economics.

MARA is moving to AI 

Alongside its earnings report, MARA outlined a strategic pivot aimed at transforming the firm from a pure-play Bitcoin miner into an energy and digital infrastructure company. 

The company announced a joint venture with Starwood Digital Ventures to develop AI-focused and high-performance computing data centers at select sites with access to low-cost power and grid capacity.

The first phase of the initiative targets more than one gigawatt of IT infrastructure, with potential expansion to 2.5 gigawatts.

Projects will be structured on a site-by-site basis, with MARA retaining stakes of up to 50% while continuing Bitcoin mining operations where economics support it.

Earlier this month, MARA acquired a 64% stake in Exaion, a firm that provides AI and high-performance computing solutions for corporate and government clients, signaling its intent to diversify beyond mining.

The strategy mirrors a broader industry shift as miners seek ways to make money due to tighter margins and fluctuating Bitcoin prices. Over the last couple of months, major Bitcoin mining firms like Cipher and Bitfarms have been aggressively repurposing their energy-heavy infrastructure into AI and high-performance computing data centers to diversify revenue as traditional mining margins shrink.

This post MARA Holdings (MARA) Stock Jumps After $1.71B Loss as Firm Pivots to AI Data Centers first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Japan's SBI Holdings will issue a ¥10 billion retail bond on March 24, but the story is the XRP perk dangled in front of buyers, conditional on opening an account at SBI VC Trade and completing receipt procedures by noon on May 11.

Pricing drops on March 10, subscription runs from March 11-23, and secondary trading launches on March 25 on Osaka Digital Exchange's START platform.

The bond itself is a conventional three-year instrument. XRP is a marketing lever designed to funnel retail investors to a crypto exchange while bootstrapping liquidity for a fledgling security token venue.

This isn't crypto adoption. It's TradFi copying loyalty marketing, using a digital asset like credit card points within a regulated wrapper.

A bond with strings attached

SBI START Bonds require a ¥10,000 minimum investment, low enough to attract retail buyers who'd balk at six-figure thresholds.

Yet, the XRP reward kicks in only at ¥100,000 and above, equivalent to roughly ¥200 worth of XRP per ¥100,000 invested during the offering period. That's a 0.2% one-time rebate, converted using SBI VC Trade's price at 6:59 a.m. on May 13 and delivered by May 15.

The bond runs for three years, maturing on March 23, 2029, with an indicative coupon range of 1.85 to 2.45% per year, finalized on March 10. Ownership gets recorded on BOOSTRY's ibet for Fin platform rather than Japan's traditional custody infrastructure.

Investors still receive scheduled interest payments and principal at maturity, which is standard bond mechanics. Still, SBI layers the XRP benefit on top as a separate promotional item, explicitly warning not to conflate it with interest or a coupon.

After issuance, the bond trades on START, ODX's proprietary trading system for security tokens, open to individual investors.

SBI positions this issuance as START's inaugural digital bond, making the XRP incentive serve double duty: customer acquisition for SBI VC Trade and attention-generation for a venue that needs volume.

Two interpretations

The bull case treats this as regulated finance, normalizing crypto as a rewards rail.

XRP becomes a compliant onboarding funnel, with investors who want the perk required to complete KYC, open an exchange account, and complete the receipt steps.

The bond serves as a built-in A/B test: does a small crypto rebate increase retail uptake compared with plain-vanilla yen products?

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Feb 18, 2026 · Liam 'Akiba' Wright

If successful, it seeds liquidity for START and proves that its tokenized securities distribution can leverage digital-asset incentives without regulatory friction.

The skeptic case sees XRP as a marketing coupon, not a payment infrastructure.

The benefit sits outside the bond's cash flows, structurally separate from interest, and SBI itself cautions against reading XRP as “yield.”

Even at full subscription, the issuance-period perk costs single-digit millions of yen, pocket change for a major financial group buying exchange signups.

The real question isn't “crypto adoption” but repeatability: does SBI run season two, and does START volume budge after March 25?

Cheap customer acquisition

At full subscription with all buyers eligible for XRP, SBI distributes roughly ¥20 million worth of tokens, about $129,000 or 0.2% of the total issue.

The firm buys those users for a few thousand yen each in XRP terms, which is cheap relative to traditional financial-services marketing spend.

Annualized, a one-time 0.2% rebate adds roughly 0.07% per year to headline returns over three years. SBI has scheduled additional benefits around March 24, 2027, March 24, 2028, and the final interest date, March 23, 2029.

However, content and quantity remain undecided. Until announced, those future perks exist only as placeholders.

Japan's macro backdrop provides the bond market with structural tailwinds.

The Bank of Japan's policy rate stands at 0.75%, the highest in decades, with officials openly discussing further hikes. The three-year Japanese government bond yields around 1.39% in late February 2026.

SBI's indicative price range of 1.85 to 2.45% reflects a risk premium that makes retail yields competitive again after years of near-zero rates.

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Feb 11, 2026 · Gino Matos

Digital issuance, analog incentives

BOOSTRY's platform replaces Japan's traditional bond-custody plumbing with blockchain-based record-keeping, but XRP doesn't settle the bonds itself.

Ownership, interest, and principal flow through standard yen rails. The crypto asset operates as a bolt-on rewards layer.

By decoupling XRP from settlement, SBI avoids regulatory ambiguity around whether the bond constitutes a crypto-denominated instrument.

START's role as the designated secondary venue ties the issuance to ODX's broader bet on security-token infrastructure. The platform launched as a proprietary trading system for tokenized securities, targeting individual investors.

SBI's issuance tests whether retail demand exists not just for the product but for the venue itself. If trading volume flatlines after March 25, the bond succeeds as a funding instrument but fails as a liquidity catalyst.

Conditionality and scale

The XRP perk's gated structure creates friction by design. Domestic residents only. Payment confirmed during the offering period.

SBI VC Trade account opened and receipt procedures completed by noon, May 11. Miss any step, and the benefit evaporates. SBI wants qualified users who'll stick around, not speculators chasing a one-time rebate.

Future benefits remain undefined, introducing uncertainty. SBI flags 2027, 2028, and 2029 dates but offers no details on amount, asset type, or eligibility. Investors buying for the total return can't model those perks with precision.

The checkable outcomes

The final coupon announcement on March 10 will reveal whether SBI prices at the low end, high end, or somewhere between.

Allocation results show demand intensity: does the book fill quickly despite the ¥10,000 minimum? Do investors cluster at ¥100,000 to capture the XRP perk?

SBI VC Trade account openings between now and the May 11 deadline quantify the customer-acquisition funnel. If SBI reports material signup volume tied to the bond campaign, the XRP strategy has been validated.

START trading volume after March 25 determines whether the bond seeds secondary liquidity or trades thinly. ODX positioned this as the platform's first digital bond; turnover data will show whether retail investors treat START as a real venue.

Repeat issuance signals institutional commitment. Does SBI plan to run a second XRP-rewards bond later this year, or will the firm quietly shelve the format?

A follow-on issue with tweaked terms would confirm this as a distribution strategy rather than a launch stunt.

Distribution vs. innovation

The broader question isn't whether XRP “goes mainstream.” It's whether TradFi issuers adopt crypto-asset incentives as a permanent distribution tool.

SBI's bond tests a hypothesis: digital-asset rewards can drive retail engagement with tokenized securities at a cost lower than traditional marketing spend, while simultaneously funneling users into exchange ecosystems that monetize through trading fees.

If the hypothesis holds, expect more bonds with ETH perks, stablecoin rebates, or other digital-asset hooks. If it fails, tokenized issuance reverts to institutional buyers and wholesale markets where rewards matter less than yield and credit quality.

The endgame isn't decentralization or disintermediation. It's incumbents using crypto primitives to solve legacy distribution problems, such as customer acquisition, venue liquidity, and product differentiation within regulated frameworks.

SBI's ¥10 billion bond doesn't replace the financial system. It shows how the system absorbs new tools when the economics make sense.

The winners: issuers who crack low-cost retail onboarding, exchanges that capture the account flow, and venues that convert issuance attention into sustained volume.

The outcome depends on execution. Whether SBI can convert bond buyers into active exchange users, and whether START can hold their attention after the launch window closes.

The post SBI Holdings is dangling XRP to sell a plain three year bond, but the numbers show how small appeared first on CryptoSlate.

Google Cloud, MoneyGram, Vodafone's Pairpoint, and eToro will run launch-phase nodes on Midnight, a zero-knowledge privacy network targeting a mainnet launch at the end of March 2026.

The pitch isn't anonymity, but selective disclosure. It's the ability to prove compliance or settlement eligibility without broadcasting raw customer data onto a public ledger.

Midnight describes these operators as “federated,” meaning a limited, named set running the protocol under explicit coordination rules to prioritize uptime and operational stability during the Kūkolu launch phase.

This phase will be followed by an eventual transition to broader community-driven decentralization, flagged as the Foundation's intent but not yet scheduled.

This isn't privacy coins. It's a zero-knowledge tool that lets firms share verifiable proofs, such as KYC status, eligibility constraints, and settlement completion, while keeping sensitive customer and business data out of public view.

Privacy with guardrails

Midnight's core claim is that institutions need privacy primitives that don't trip regulatory wires.

The network uses zero-knowledge proofs to enable selective disclosure: a bank proves it ran AML checks without revealing transaction details, and a broker proves customer accreditation without revealing the customer's identity.

Disclosure must be explicitly stated in applications, such as “privacy-by-default, disclosure-by-choice” in the network's framing, making it legible to compliance teams rather than a regulatory red flag.

The federated operator model reflects a deliberate trade-off between centralization.

Launch stability matters more than ideological purity when regulated firms test production workloads, so Midnight starts with a curated set of node operators who commit to participating and adhering to coordination rules.

The Foundation says it intends to transition away from this federated structure toward full decentralization later, but no timeline or criteria have been published.

The real-world implication: Midnight prioritizes operational reliability over censorship resistance at genesis, betting that enterprise-grade infrastructure today builds credibility for broader validator participation tomorrow.

Blue-chip infrastructure players

Google Cloud brings cloud infrastructure and references its Confidential Computing capabilities alongside Mandiant monitoring.

Blockdaemon, which Midnight notes secures over $110 billion in digital assets, joins as a validator services provider. AlphaTON and Shielded Technologies round out the infrastructure side.

The regulated business operators add distribution credibility.

MoneyGram operates in more than 200 countries and territories, giving the network a payments-infrastructure footprint. Pairpoint, the Vodafone and Sumitomo venture, ties in telecom and IoT angles. eToro, with over 35 million users, represents a brokerage and retail trading infrastructure.

MoneyGram, Pairpoint, and eToro represent three of ten launch nodes, suggesting Midnight plans to name additional operators before the end of the March deadline.

The Foundation hasn't published a full roster yet, leaving the final composition partially undefined.

The privacy gap gets quantified

Midnight cites research from Aleo's 2025 Privacy Gap Report, which claims $1.22 trillion in institutional stablecoin transaction volume, with only 0.0013% settling on privacy-enabled rails.

The framing positions privacy not as a niche crypto-native feature but as an institutional bottleneck: massive on-chain flows moving on transparent infrastructure because compliant privacy tooling doesn't exist yet.

The timing forces an operator-first strategy. With a mainnet deadline at the end of March, Midnight needed a credible node set locked in early enough to test coordination, uptime, and operational playbooks before genesis.

Recruiting household names, such as cloud providers, payment processors, and telcos, signals enterprise-grade seriousness and creates a trust anchor for early applications.

Broader privacy demand shows up in mainstream surveys. Midnight references Pew Research, which found 81% of respondents were concerned about how companies use their data, with 62% saying it's impossible to go through daily life without corporations collecting information.

Enterprise primitive vs. federated theater

The bull case treats selective disclosure as a missing primitive for on-chain finance.

Blue-chip operators signal infrastructure and regulatory credibility at launch. Privacy-with-proofs solves real compliance friction: prove you ran checks, prove counterparty eligibility, prove settlement constraints, all without exposing customer records or proprietary business data to public chains.

If successful, Midnight becomes the compliance layer for tokenized securities, payment rails, and identity verification that need verifiable privacy.

The skeptic case sees federated launch as trust assumptions dressed up as pragmatism. A curated operator set running under coordination rules isn't censorship-resistant decentralization, but a permissioned network with a roadmap promise.

Big names don't guarantee usage. The real test is whether production applications ship and whether the Foundation publishes credible criteria and timelines for opening validation beyond the initial set.

Operators as distribution infrastructure

Node operators don't just validate transactions, they function as distribution and trust infrastructure.
Google Cloud signals developer tooling and enterprise cloud integration. MoneyGram and Pairpoint represent payments and IoT data flows. eToro represents retail trading on-ramps.

If these operators translate into production integrations, such as KYC-compliant DeFi, privacy-preserving settlement rails, and tokenized securities with selective disclosure, the network justifies its roster of operators.

The privacy-rails gap Midnight cites offers a scale anchor. If privacy-enabled settlement grows from 0.0013% of stablecoin volume to even 0.1%, that's $1.25 billion per month shifting to selective-disclosure infrastructure. At 1%, it's $12.5 billion per month.

Aleo's own framing suggests $1 billion to $2.5 billion per month as a plausible near-term shift if compliance tooling matures.

Decentralization timeline and application delivery

The federated model creates immediate assumptions about trust.

Midnight controls the operator set, participation rules, and coordination mechanisms at launch. The Foundation's stated intent to transition toward decentralization matters only if backed by published criteria, timelines, and validator onboarding pathways.

Application delivery determines whether the infrastructure matters. Midnight has signaled new reporting metrics and telemetry around network activity, but production dApps and integrations remain unannounced.

If mainnet launches at the end of March without live applications, and selective disclosure is used for real compliance workflows, the operator roster validates nothing except marketing.

The measurable outcomes

Remaining operator announcements before the end-of-March deadline will reveal whether Midnight hits the reported ten-node target and whether additional operators bring new sectors or geographies.

Published decentralization criteria and timelines determine whether federated launch is a pragmatic choice or a permanent state.

If Midnight releases validator onboarding requirements, governance transition plans, and measurable milestones for community participation, the skeptic's case weakens.

Genesis applications and integrations around mainnet readiness show whether operators convert into usage. Metrics to watch are production dApps, privacy-preserving settlement rails, or tokenized securities using selective disclosure.

Operator logos without applications mean infrastructure without demand.

Network telemetry and activity reporting, which Midnight says it's designing, will quantify transaction volume, proof generation, and validator performance.

Compliance layer or controlled launch theater

The broader question isn't whether privacy tooling matters, but whether Midnight's federated-then-decentralized model produces a credible compliance primitive or stalls as a permissioned network with household-name validators.

If the hypothesis holds, selective disclosure becomes the default for regulated on-chain activity.

Institutions prove compliance without exposing customer data, settlement rails preserve privacy without compromising auditability, and tokenized securities protect investor information while meeting disclosure requirements.

If it fails, privacy infrastructure fragments across competing networks, federated launch becomes permanent centralization, and big-name operators exit when applications don't materialize.

The outcome depends on whether Midnight ships decentralization milestones and whether developers build applications that need privacy with proofs, not just privacy.

The end-of-March mainnet deadline starts the clock. Everything after that, like decentralization progress, application delivery, and validator expansion, determines whether Midnight's blue-chip roster built a compliance layer or just ran an expensive testnet with good PR.

The post Google Cloud and MoneyGram just signed on to run launch Midnight nodes for new privacy network banks want appeared first on CryptoSlate.

Bitcoin drops 3% as PPI beats forecasts, and a tiny detail could skew the next macro trade

Bitcoin traded lower after January producer inflation came in above consensus. That sets up a longer stretch in which rate expectations may steer crypto pricing ahead of the next producer price index (PPI) print on March 18.

January PPI inflation was 2.9% year over year, above the 2.6% consensus estimate. Core PPI (excluding food and energy) at 3.6% year over year versus 3.0% consensus.

The Bureau of Labor Statistics reported the PPI for final demand rose 0.5% month over month on a seasonally adjusted basis and 2.9% year over year on an unadjusted basis.

According to the BLS release, the upside in January was concentrated in services, while goods and energy moved lower. Final demand services increased 0.8% on the month, and within services, trade-service margins rose 2.5% (trade indexes measure margins received by wholesalers and retailers).

Final demand goods fell 0.3%. Energy prices dropped 2.7%, including a 5.5% decline in gasoline.

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Jan 31, 2026 · Gino Matos

PPI surprise follows a cooler CPI print

The producer-side surprise landed after consumer inflation had cooled earlier in the month. The BLS said January CPI rose 2.4% year over year, down from 2.7% in December, while core CPI (all items less food and energy) rose 2.5% year over year.

The combination leaves markets parsing whether January’s producer-side heat, concentrated in services and margins, can persist without showing up in consumer prices over coming prints. CryptoSlate previously covered the CPI-side move in January CPI details and Bitcoin reaction.

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Bitcoin spikes 6% on softer US inflation but government data has holes that haven't been fixed

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Feb 13, 2026 · Liam 'Akiba' Wright

Crypto markets have tended to react to shifts in U.S. rate expectations because those shifts can change discount rates and broad liquidity conditions. Traders often apply that framework when inflation surprises run hot or cold.

That macro transmission is not spelled out in government releases, yet the timing mattered for price action in the hours around the data, where BTC fell from $68,289 to $66,255.

That move amounts to a drop of about 3% across roughly 36 hours. In parallel, CryptoSlate has noted how positioning can amplify macro moves, including in coverage of liquidations and ETF flows.

Rates, yields, and inflation expectations in focus

For policy context, the Federal Reserve’s current implementation directive is to maintain the federal funds rate target range at 3.50%–3.75%, effective Jan. 29.

The effective federal funds rate printed at 3.64% on Feb. 23, according to FRED’s DFF series. That kept realized overnight funding near the middle of the target range.

A separate expectations anchor from FRED put the 10-year breakeven inflation rate at 2.34% on Feb. 6. The series is tracked in FRED’s 10-year breakeven inflation data, which traders often use to contextualize long-run inflation pricing even when short-run prints fluctuate.

Other macro benchmarks can shape cross-asset sensitivity around inflation data. These include the 10-year Treasury yield in FRED’s DGS10 series and the Fed’s nominal broad dollar index.

Calendar delay raises the stakes for March 18

One technical wrinkle is that the next producer inflation catalyst will arrive later than usual. The BLS said the February 2026 PPI news release is rescheduled for March 18, 2026, citing shutdown-related transmission delays.

The agency’s calendar reflects that date on its PPI release schedule. That delay extends the window in which markets may trade the interaction between already-published CPI cooling and the new PPI services strength, with fewer near-term producer-price checkpoints to resolve the debate.

How “core PPI” is defined will matter in those discussions. The BLS reported that final demand less foods, energy, and trade services rose 3.4% year over year, a measure that strips out trade-service margins that were a key driver of January’s monthly gain.

Media shorthand often cites a different “core” measure, excluding just food and energy, which is at 3.6% year over year. Traders who treat those as interchangeable risk misreading what portion of January’s strength came from margins versus broader pricing pressure.

In the coming two to eight weeks:

1. One baseline setup is that the Fed stays on hold while the market pushes expected cuts further out rather than pulling them forward. In that framing, bitcoin’s sensitivity to macro data can remain elevated into March 18.
2. A second path is a more hawkish repricing if investors interpret the services and margin spike as persistent. That approach would keep attention on short-dated rates and on whether long-run inflation pricing, anchored around 2.34% in the Feb. 6 breakeven reading, remains contained.
3. A third path is a dovish re-lean if upcoming data outside this pack shift attention toward softer growth while CPI continues to cool. That would allow the market to discount the PPI services burst as sector-specific rather than broad.

For now, the calendar itself is part of the trade. With February PPI delayed until March 18, bitcoin and other risk assets are left to reconcile a January inflation mix where consumer prices cooled to 2.4% year over year even as producer prices advanced 0.5% on the month, powered by services and trade margins.

The post Bitcoin drops 3% as inflation hots up again, and a quiet services spike just changed the rate cut story appeared first on CryptoSlate.

Bitcoin has rebounded from an early-February slide that briefly pushed it to $60,000 and produced its most oversold signal on record, easing some of the pressure that has weighed on crypto markets.

According to CryptoSlate's data, the flagship digital asset has steadied in recent days and briefly approached the $70,000 mark before settling around $67,300 as of press time

This price action helped improve the broader market sentiment because it coincided with a three-day stretch of net inflows into US spot Bitcoin exchange-traded funds (ETFs), their strongest run this month.

At the same time, the market is showing signs of improved spot demand for the first time since late November.

As a result, there has been renewed market speculation that BTC could recover to $90,000 in March, though derivatives positioning suggests traders still see that outcome as a long shot.

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Options are pricing recovery, but not conviction

Bitcoin’s options market suggests traders are still paying up for protection, even as chatter builds around a quick rebound.

On Deribit, the March 27 $90,000 call recently traded around $522, which translates to less than a 6% implied probability of Bitcoin reaching that level by late March under standard Black-Scholes modeling.

Meanwhile, the March 27 $50,000 put was near $1,380, implying roughly a 20% chance of a deeper drop.

CME Group data points to the same caution. On Feb. 5, 25-delta implied volatility rose to 75% for calls and 95% for puts, both the highest since 2022, while the 25-delta risk reversal slid to minus 19.34, its lowest level since 2022.

That mix is typical of a market still buying downside insurance and not one convinced the selloff is over.

At the same time, derivatives positioning shows why the recovery narrative has not vanished.

CME said open interest tied to March expirations skewed bullish, with about $660 million in call open interest versus $240 million in put open interest, a 3-to-1 ratio.

Derive, a crypto options platform, echoed that read in a Feb. 27 email statement to CryptoSlate.

The firm said Bitcoin volatility has eased back into the 50% range, a level more consistent with consolidation than panic, while 25-delta skew improved from about minus 15% to around minus 7%, suggesting traders have become less defensive.

Across the March 27 expiry, the market shows call accumulation at $80,000 and $90,000 alongside meaningful put interest at $60,000 and $55,000, signaling investors want upside exposure without dropping hedges.

In conclusion, the firm stated:

“The data points toward a market attempting to form a base. Volatility compression, improving sentiment metrics and increasingly structured positioning suggest traders are transitioning away from defensive panic toward conditional optimism, preparing for upside participation while remaining protected against another leg lower.”

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Bitcoin was oversold more than ever before it jumped – could bears soon get wrecked through liquidations?

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Feb 25, 2026 · Oluwapelumi Adejumo

ETF flows still hold the key to any fast move

If Bitcoin is to move beyond a slow recovery, the exchange-traded fund market remains the clearest source of additional demand. That is also where the rebound case faces its biggest test.

Data from SoSoValue show US spot Bitcoin ETFs have recorded $2.6 billion in net outflows since the start of 2026.

That marks a sharp shift from the same period a year earlier and suggests one of Bitcoin’s most visible institutional demand channels has been subtracting from momentum rather than adding to it.

The issue for bullish investors is not a single weak week. It is the risk that a sustained stretch of negative flows can limit rallies, weaken momentum, and leave spot buyers to absorb selling pressure without help from one of the market’s largest sources of demand.

However, there are early signs that demand may be returning.

SoSoValue data show that spot Bitcoin ETFs attracted more than $1 billion in net inflows over the last three trading sessions this week, even as BTC continues to trade in a tight range.

That represents a notable improvement after a prolonged period of outflows.

Still, three days of inflows do not establish a durable trend, especially if Bitcoin is to make a credible push toward $90,000 in March.

For that to happen, the ETF market would likely need several more strong sessions in close succession, enough to absorb overhead supply and help create the kind of feedback loop that draws in additional spot demand.

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Feb 19, 2026 · Liam 'Akiba' Wright

Even if flows improve, $90,000 is not a clean-air target.

Glassnode previously noted that Bitcoin remains in what it called a defensive phase, with selling pressure still being absorbed in a $60,000 to $72,000 demand corridor.

The firm also pointed to large supply clusters overhead, at $82,000 to $97,000 and again at $100,000 to $117,000. Those levels reflect where many holders are sitting on unrealized losses and may be more willing to sell into relief rallies.

In that context, $90,000 is not just a psychological marker. It sits inside a heavier supply band that the market would need to work through.

Moreover, Glassnode’s realized price, a widely watched proxy for the market’s aggregate cost basis, was $54,614.94 as of Feb. 26.

That does not imply Bitcoin must return to that level. However, it shows the distance between current prices and a deeper valuation reference, which tends to draw attention during periods of stress.

In the near term, recent efforts to retake $70,000 have met visible profit-taking.

Glassnode said smoothed net realized profit and loss rose above $5 million an hour on Feb. 25 as Bitcoin climbed to a peak near $69,400 before stalling.

The firm said profit-taking continued to absorb momentum around the $70,000 level, reinforcing the picture of a market recovering in a thin-liquidity environment where even modest bursts of selling can interrupt advances.

March is packed with catalysts, not certainty

The March calendar also argues against treating $90,000 as a straightforward call.

This is because Bitcoin will face a series of macroeconomic tests that could shape demand for risk assets.

For context, the US jobs report for February is due March 6. The February consumer price index data is scheduled for release on March 11. The Federal Reserve meets March 17-18. The January Personal Income and Outlays report, which includes the PCE inflation gauge, is due March 25.

Those events matter because Bitcoin remains sensitive to interest-rate expectations, inflation data, and broader liquidity conditions.

Reuters reported this week that the Fed is expected to keep its benchmark rate in a 3.50% to 3.75% range at its March meeting, as recent shifts in market expectations reduced confidence in early rate cuts.

That backdrop is not necessarily negative for Bitcoin. But it also does not provide the kind of clear easing signal that would make a rapid climb to $90,000 look likely.

Taken together, those conditions help explain the market’s cautious optimism.

However, there is a credible path to higher prices in March. Softer inflation data, a less restrictive tone from the Fed, several sessions of strong ETF inflows, and further short covering in derivatives could push Bitcoin sharply higher.

The March options positioning shows traders see that scenario. However, the continued demand for downside protection shows they are not fully convinced.

The post Bitcoin sees $1B ETF inflows after brutal outflow streak, setting up the clearest path to $90,000 appeared first on CryptoSlate.

Bitcoin’s rally is riding record $1.279 trillion margin debt, and the unwind could arrive without warning

Bitcoin’s next phase is being shaped by a record build in U.S. market leverage, recession-leaning survey data and an expanding Treasury buyback program that is aimed at bond-market plumbing rather than monetary easing.

Those inputs show up across FINRA’s margin statistics, an Associated Press report on consumer confidence and the Treasury’s Feb. 4 quarterly refunding statement.

A post from The Kobeissi Letter put the January jump in brokerage margin borrowing at about $53 billion.

It framed the move as another step in a stretch of monthly increases and a setup where cross-asset deleveraging could travel faster than spot-only narratives.

The underlying FINRA dataset shows “Debit Balances in Customers’ Securities Margin Accounts” at 1,279,042 ($ millions) for Jan-2026, or about $1.279 trillion.

That is up from 1,225,597 ($ millions) in Dec-2025, or about $1.226 trillion, a month-over-month change of 53,445 ($ millions), or about $53.445 billion, according to FINRA’s margin statistics.

For Bitcoin, the practical issue is less whether the borrowing is “crypto leverage” and more that a larger stock of system leverage can compress volatility during uptrends and then reprice quickly when risk limits tighten.

Correlations across liquid markets often converge during stress, and that can pull BTC into a forced-sell window even if crypto funding is stable.

That risk channel grows when margin borrowing accelerates.

Liquidation and re-hedging flows can become synchronized across equities, rates, and high-beta assets, a mix that can drag BTC lower as risk is reduced elsewhere.

The leverage build also collides with policy risk calendars. In episodes like the current tariff/legal pivot, markets price both the magnitude of the shock and the timing of the next headline.

A 150-day window under Section 122-style authority (and the litigation/lobbying drumbeat that comes with it) can concentrate uncertainty into a narrow band of dates, and concentrated uncertainty is where margin systems tend to reprice fastest.

If Treasury yields and the dollar tighten together on inflation risk, leveraged books can de-gross and pull BTC down with broader risk. If yields fall on growth-scare pricing, BTC can catch a liquidity bid later, but the first move is often correlation, not narrative.

Recession signals complicate the risk backdrop

Macro inputs have not offered a clean counterweight.

The Conference Board’s Leading Economic Index fell 0.2% in December 2025 to 97.6 (2016=100), according to a COMTEX/PR Newswire-syndicated release.

The Conference Board also describes the LEI as leading turning points in the business cycle by about seven months, according to the same release.

Separately, the Conference Board’s consumer expectations index was 72 in February 2026 and has been below 80 for 13 straight months.

The report described 80 as a marker that can signal a recession ahead.

A post from Global Markets Investor said the LEI fell again in January to a 12-year low and described an 18% drawdown from the 2021 peak.

That characterization keeps the “growth-scare” branch of outcomes on traders’ dashboards even as risk assets remain sensitive to liquidity and rate-volatility swings.

Treasury buybacks, collateral chains and BTC’s macro beta

The U.S. Treasury’s buyback program is the other part of the setup because Treasuries sit at the center of collateral chains that matter for funding conditions.

Those funding conditions can spill into the same macro-led regimes in which Bitcoin tends to trade alongside rates volatility and broad risk appetite.

Treasury said in its Feb. 4 quarterly refunding statement that it anticipates buying back up to $38 billion in “liquidity support” operations across off-the-run buckets and up to $75 billion in “cash management” buybacks in the 1-month to 2-year bucket over the upcoming quarter.

In that statement, Treasury also said it plans to move buyback operations to the Federal Reserve Bank of New York’s FedTrade Plus platform and to run a small-value test buyback.

It added that the test “should not be viewed, in any way, as a precursor or signal of any pending policy changes.”

Treasury’s buyback rules are also in a formal update cycle, with a Jan. 14, 2026 notice of proposed rulemaking and a Feb. 13, 2026 comment deadline listed on TreasuryDirect.

Treasury said it anticipates a final rule inside the first half of 2026.

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Operationally, the program has been active enough to show up in weekly tallies.

The first week of February alone totaled $6 billion in repurchases, followed by a $18.5 billion spike later in the month.

Treasury has framed buybacks as a market-functioning tool since launch.

Way back in an April 2025 quarterly refunding statement, Treasury said the program was launched in May 2024, “has been well received,” and “has increased the resilience of the Treasury market.”

For BTC, that is relevant mainly through tail-risk plumbing: smoother Treasury microstructure can reduce the odds that a funding squeeze becomes a rapid cross-asset de-risking event.

However, Treasury buybacks do not, by themselves, create bank reserves in the way asset purchases by a central bank do.

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Apr 18, 2025 · Oluwapelumi Adejumo

Three paths for BTC as leverage and policy plumbing evolve

Taken together, the rest-of-cycle map can be framed across a few paths that hinge on the same inputs.

• In a continuation path, margin borrowing keeps climbing from the Jan-2026 record level, and momentum holds across liquid risk. BTC’s upside can remain intact while downside convexity builds because the unwind channel grows with the leverage stock, according to FINRA’s margin dataset.
• In a base-case “choppy” path, weak leading indicators and a low expectations index keep growth and rate expectations unstable. BTC trades in a pattern where rallies coexist with sharp drawdowns as macro data reprice, anchored by the Dec-2025 LEI reading and lead time and the Feb-2026 expectations index level.
• In a stress path, an adverse shock collides with elevated leverage and pushes a cross-asset unwind. BTC tends to behave as liquid beta during the acute phase, and Treasury buybacks may only soften Treasury market frictions at the margin, within the operating and policy boundaries Treasury described in its Feb. 4 statement.

The next checkpoints are scheduled. The margin-statistics update in the third week of the month following the reference month from FINRA and the Treasury's final buyback rule before the summer.

Bitcoin has already started to give back part of its recent rally, bouncing off a long-term support-turned-resistance near $69,200, and is ready to test the $65,400 support soon.

CryptoSlate’s Bitcoin treasury companies report details how reflexivity and funding stress can feed back into BTC price action during drawdowns.

These are recession fragility signals rather than outright forecasts, the kind that carry more weight when system leverage is already at a record.

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Jul 23, 2025 · Gino Matos

The post Bitcoin price rally is riding record $1.2 trillion margin debt, and the unwind could be here already appeared first on CryptoSlate.

The cryptocurrency market is currently witnessing a significant shift in momentum. After a period of heightened volatility, the Bitcoin price has retreated to the $65,000 level, marking a crucial cooling-off period for the world's largest digital asset. This move comes as traders digest recent macro data and institutional shifts, leading to what analysts describe as a "textbook consolidation."

Is the Bitcoin Price Still Bullish?

Yes, the broader structure remains intact, but the short-term outlook has shifted to neutral-bearish. While the drop to $65,000 has sparked concern among retail investors, technical indicators suggest this is a necessary "healthy correction" to shake out over-leveraged positions before any potential move toward previous highs.

Bitcoin Price Today: Understanding the $65K Support

The recent price action on the BTC-USD chart indicates that the $65,000 region is acting as a primary psychological and technical floor.

Why did Bitcoin drop?

Several factors have contributed to this retracement:

• Institutional Profit Taking: After a strong start to 2026, many institutional desks are locking in gains.
• Macro Uncertainty: New tariff announcements and shifts in Federal Reserve expectations have pushed investors toward defensive assets like gold.
• Whale Activity: On-chain data from platforms like Glassnode shows an increase in exchange inflows from large-scale holders, signaling a temporary distribution phase.

Bitcoin Price Analysis: Consolidation or Breakdown?

Analyzing the recent 4-hour and daily charts reveals a clear descending channel pattern. Bitcoin recently peaked near $70,000 before easing back to its current range.

Key Technical Indicators:

• RSI (Relative Strength Index): The RSI is currently hovering around 45, indicating that Bitcoin is neither oversold nor overbought. This "middle-ground" supports the narrative of a sideways consolidation.
• Support and Resistance:
  • Immediate Support: $65,000 (Psychological)
  • Strategic Support: $62,000 (100-week Moving Average)
  • Near-term Resistance: $68,500 (20-day EMA)
• Volume: Trading volume has stabilized, which is typical during a consolidation phase. A sudden spike in volume at these levels would be required to confirm a breakout in either direction.

Bitcoin Price Prediction: Where is BTC Price Heading?

Predicting the next move for Bitcoin requires looking at both liquidity and sentiment. Currently, the Fear & Greed Index is in "Extreme Fear" territory. Paradoxically, for contrarian traders, this often signals a potential bottoming process.

Scenario A: The Bullish Rebound

If Bitcoin can maintain its footing above $64,200 and break the $68,000 resistance, the next targets are $71,500 and eventually the $75,000 psychological barrier. This would likely be driven by renewed spot ETF inflows.

Scenario B: The Bearish Extension

A decisive daily close below $62,000 would be concerning. Such a move could trigger a "liquidity cascade," potentially pushing prices toward the $58,000 support zone, which served as a major floor in late 2024.

The current state of the cryptocurrency market is showing signs of a slow but steady transition. According to the latest data from the CMC Altcoin Season Index, the market is currently sitting at a score of 35/100. While this still technically places the market in "Bitcoin Season," the index has been trending upward from a monthly low of 26.

Investors are closely watching the Altcoin Market Cap (AMC), which has seen significant fluctuations over the last 90 days. As Bitcoin dominance begins to face pressure from breakout performers in the top 100, the "Who, What, and Why" of this shifting landscape becomes critical for strategic positioning.

Are We in an Altcoin Season?

No, we are not in a full-blown Altcoin Season yet. A score of 75 or higher is generally required to declare an official Altcoin Season. However, the current score of 35 represents a notable recovery from last week's 31 and last month's 26.

This suggests that while $Bitcoin remains the primary driver of market sentiment, specific altcoins are beginning to decouple and provide massive idiosyncratic returns.

Decoding the Altcoin Season Index Data

The "Altcoin Season Index" is a metric used to determine whether Bitcoin or Altcoins are outperforming over a specific period (usually 90 days).

Historical Context and Yearly Ranges

• Current Index: 35/100
• Yearly High: 78 (Achieved on Sep 20, 2025)
• Yearly Low: 12 (Achieved on Apr 26, 2025)
• Short-term Trend: The index has moved from 33 (yesterday) to 35 today, indicating a minor but positive momentum shift toward altcoins.

The Altcoin Market Cap chart shows a sharp decline from peaks near 1.3T down toward the 1.0T level in early February, followed by a recent stabilization and slight uptick.

Top 100 Altcoin Performance

When looking at the top 100 coins by performance over the last 90 days, one asset stands out with astronomical gains, while others show more modest, defensive growth.

The extreme performance of PIPPIN (+825.17%) highlights a market that is hungry for high-alpha meme or niche tokens, even while the broader "Altcoin Season" remains elusive. Interestingly, we also see stability-focused or "wrapped" assets like PAXG (+22.70%) and XAUT (+22.66%) in the top performers, suggesting a split market where some investors are hedging with gold-backed tokens while others chase high-risk growth.

A Cautious Path Forward

The data from CoinMarketCap paints a picture of a market in a "wait and see" phase. While the Altcoin Season Index at 35 is far from the yearly high of 78, the recovery from the April lows of 12 is significant. Traders should remain focused on individual "outliers" like PIPPIN while monitoring the index for a break above the 50-point midline.

The bridge between decentralized finance and everyday commerce just became a lot sturdier. Consensys, the developer behind the world’s leading self-custodial wallet, has officially announced the general availability of the MetaMask Card across the United States. Developed in partnership with Mastercard and Monavate, this launch marks a significant shift in how digital assets are used, moving them from speculative holdings to liquid daily currency.

Bridging the Gap: Crypto Meets Mainstream Retail

The MetaMask Card is now available in 49 US states, including New York, which has historically been a challenging regulatory environment for crypto firms. By leveraging Mastercard’s global network, users can now spend their crypto balances at over 150 million merchant locations worldwide.

The integration is designed to be seamless; users can add their virtual card to Apple Pay or Google Pay instantly upon approval, allowing for immediate real-world utility without the need for traditional banking intermediaries.

How the MetaMask Card Redefines Self-Custody

Unlike traditional crypto debit cards that require users to "pre-load" funds onto a centralized exchange—effectively giving up control of their assets—the MetaMask Card is fully self-custodial.

"Users retain control of their digital assets in their MetaMask wallet until the moment they pay," stated a spokesperson for Consensys.

This means your funds remain on-chain and under your private keys until the transaction is authorized at the point of sale. At that exact moment, the system converts the necessary amount of crypto into fiat currency to settle the payment.

Tiers and Rewards: Going "Metal"

The rollout introduces two distinct tiers for US users:

• Virtual Tier (Free): A digital-only card with 1% cashback on purchases.
• Metal Tier ($199/year): A premium 16-gram stainless steel physical card offering 3% cashback (on the first $10,000 spent annually), no foreign transaction fees, and higher ATM withdrawal limits.

All rewards are paid out in mUSD, a new Ethereum-based stablecoin issued via the Stripe-owned Bridge platform. This ensures that even the rewards remain within the Web3 ecosystem.

Supported Networks and Assets

To keep transaction costs low, the card primarily utilizes the Linea network, an Ethereum Layer 2 (L2). Currently, US users can spend assets including:

• Stablecoins: USDC, USDT, and mUSD.
• Yield-bearing tokens: aUSDC (via Aave), allowing users to earn interest on their balance until the second they spend it.

The Impact on Crypto Adoption

This partnership is more than just a new product; it is a validation of self-custody by a global financial giant like Mastercard. By removing the "friction" of off-ramping to a bank account, MetaMask is positioning itself as a direct competitor to traditional checking accounts. According to Mastercard’s official newsroom, the goal is to empower people to spend their digital balances as securely and easily as traditional cash.

Today, February 27, 2026, the global community celebrates Pokémon Day, marking the monumental 30th anniversary of the franchise's debut in Japan back in 1996. While the day is usually packed with video game announcements and "Pokémon Presents" livestreams, 2026 has transformed into a massive catalyst for the Pokémon Trading Card Game (TCG) market.

From high-stakes auctions of vintage grails to new blockchain-backed ways to own physical assets, the "Gotta Catch 'Em All" spirit is driving record-breaking interest in collectible cards. Whether you are a nostalgic millennial or a modern investor, understanding today's market movements is crucial for navigating the anniversary hype.

What's Happening on Pokémon Day?

• Anniversary Milestone: It is the official 30th birthday of Pokémon.
• Special Releases: The Pokémon Day 2026 Collection featuring a stamped Pikachu promo card is hitting shelves.
• Market Surge: High-profile auctions on platforms like eBay and Collector Crypt are seeing unprecedented volume.
• New Tech: Real World Asset (RWA) tokenization is allowing fans to buy and trade physical cards instantly on-chain.

Why is Pokémon Day So Important for Card Collectors?

Pokémon Day isn't just a date on the calendar; it is the annual "Pulse Check" for the franchise's economic health. This year, the stakes are higher due to the 30-year milestone. Historically, cards released or promoted during this window—especially those with a "Pokémon Day" stamp—become immediate targets for long-term appreciation.

The "Pikachu effect" is in full swing today. As The Pokémon Company unveils new expansions like Paldean Wonders and teases future sets, collectors often rotate capital from older sets into these new "anniversary-stamped" products. This creates a volatile but high-opportunity environment for those looking to buy Pokémon cards before prices stabilize.

How to Buy Pokémon Cards in 2026: The New Meta

The days of only buying cards at local hobby shops or fighting scalpers at big-box retailers are evolving. While traditional methods still exist, 2026 has seen the rise of tokenized physical cards.

1. Traditional Retail & Promo Drops

For fans who want the physical box in hand immediately, the Pokémon Day 2026 Collection is the primary target. It includes:

• A foil Pikachu promo card with a 30th-anniversary stamp.
• A commemorative metallic coin.
• Three booster packs from recent sets like Mega Evolution - Ascended Heroes.

2. Digital Gacha and RWA Platforms

One of the most innovative ways to participate in Pokémon Day today is through Collector Crypt. This platform uses the Solana blockchain to tokenize professionally graded cards (PSA, BGS, CGC) into pNFTs.

By using the Collector Crypt Gacha, you can purchase randomized digital "packs" that contain real, physical cards stored in secure vaults.

• Instant Liquidity: You can trade your card NFT instantly without waiting for shipping.
• Redemption: If you want the physical card, you simply "burn" the NFT, and the vaulted card is shipped to your door.
• Verified Assets: Every card in the pool is pre-graded and authenticated, removing the risk of fakes often found on unverified marketplaces.

Market Trends: What Are People Buying?

According to data from major secondary markets, the 30th anniversary has focused interest on three specific areas:

The integration of crypto and collectibles has also influenced the Bitcoin price and broader market sentiment, as "digital gold" enthusiasts increasingly diversify into "physical cardboard gold." Many collectors now use profits from the best crypto exchanges to fund their high-end Pokémon purchases.

Expert Tips for Pokémon Day 2026

If you are planning to enter the market today, keep these strategies in mind:

• Watch the Livestream: The Pokémon Presents at 2:00 PM UTC often contains clues about which Pokémon will be featured in the next big TCG sets.
• Check the Stamps: Cards with the "2026" or "30th Anniversary" logo generally command a premium over standard versions of the same art.
• Secure Your Assets: If you are buying high-value cards, ensure you have a plan for storage. For digital versions, a hardware wallet is essential to protect your pNFTs.

"Pokémon has evolved from a schoolyard hobby into a legitimate asset class. The 30th anniversary is the proof of concept that this franchise isn't going anywhere." — Market Analyst, eBay Collectibles.

Conclusion: Is Today the Right Time to Buy?

With the 30th anniversary in full swing, emotions and FOMO (Fear Of Missing Out) are at an all-time high. While prices for specific "chase cards" may spike today, the long-term value of anniversary-stamped merchandise historically holds strong.

Whether you're looking for the thrill of a Gacha pull or searching for a vintage Charizard to anchor your portfolio, Pokémon Day 2026 is a historic moment for the hobby.

Following a period of intense market volatility that saw the global crypto market cap fluctuate, Cardano ($ADA) has emerged as one of the top performers among large-cap altcoins today. The price of ADA climbed from a daily low of roughly $0.27 to its current position near **$0.29**, representing an 8% gain. This move comes amid a broader recovery in the crypto sector, fueled by Bitcoin reclaiming key levels above $67,500.

Cardano Price Analysis: Testing the $0.29 Zone

As of February 26, 2026, Cardano is trading at approximately $0.293. The recent price jump has been supported by a notable increase in trading volume, suggesting that the move is not just a speculative spike but is backed by active participation. On-chain data indicates that "sharks" and "whales"—wallets holding between 100,000 and 100 million ADA—have been quietly accumulating throughout the recent drawdown, adding over 819 million ADA to their holdings.

Cardano Price Prediction: Breakout or Fakeout?

The most significant milestone for ADA in the immediate term is the $0.30 resistance level. This price point serves as both a technical and psychological barrier.

The Bullish Case: Targeting $0.32 and $0.35

If $Cardano can secure a daily close above $0.30 with sustained volume, it would signal a breakout from the current bearish structure. Traders are eyeing the following targets:

• $0.32: The first minor resistance and a previous consolidation zone.
• $0.35: A major supply wall that aligns with the 50-day Exponential Moving Average (EMA). A break above this could confirm a mid-term trend reversal.

The Bearish Case: Resistance and Rejection

Conversely, $0.30 has historically acted as a stiff ceiling. If the current rally lacks the momentum to pierce this level, we could witness a "fakeout." In this scenario, ADA might see a rejection, leading to a retracement toward:

• $0.28: Immediate support where the price recently consolidated.
• $0.26: A critical support floor that has defended against further declines over the past month.

Technical Indicators and Ecosystem Catalysts

Technical indicators provide a mixed but leaning-bullish outlook. The Relative Strength Index (RSI) has finally moved above the 50-midline, suggesting that buying pressure is neutralizing the previous bearish momentum. Additionally, the MACD is showing a bullish crossover on the daily timeframe.

Fundamental catalysts are also at play. The Cardano ecosystem is preparing for the launch of the Midnight privacy sidechain in March 2026 and the highly anticipated USDCx integration. Furthermore, the implementation of the Ouroboros Leios upgrade remains a key long-term driver for network throughput.

Cardano Future: A Critical Inflection Point

Cardano is currently at a crossroads. While the 8% jump has provided much-needed relief for holders, the battle for $0.30 will determine the asset's direction for the remainder of Q1. Investors should watch for a confirmed breakout above $0.30 to validate further gains, while remaining cautious of a potential rejection that could retest the $0.26 support.

The AI’s Substack lands amid growing questions about identity, sentience, and how models are retired.

Bitcoin fell Friday after briefly topping $69K this week, while stocks like CoreWeave and BitMine tumbled amid broader market losses.

Magic Eden is pulling support for Ethereum-compatible and Bitcoin-based assets, marking an end to its multi-chain approach to user adoption.

Trump Media is considering spinning off its Truth Social platform into its own public entity.

South Korea's tax service shared the seed phrases for seized wallets in a press release. The contents were then taken, but ultimately returned.

Former SEC Chair Gary Gensler has allegedly apologized to Ripple CEO Brad Garlinghouse..

SBI President Yoshitaka Kitao is rooting for Ripple’s 2026 plans to boost the growth of the XRP Ledger following the massive $550 million deployment on the ledger.

Experts warn that Quantum computers powerful enough to break Elliptic Curve cryptography might put cryptocurrencies at risk.

After two months of complete silence, Shiba Inu whale tied to South Korean CoinOne is back on on-chain radar, with a 65 billion SHIB withdrawal. The total holdings, meanwhile, surpass 1.616 trillion tokens.

UK top bank Barclays is consulting suppliers to potentially help build a blockchain payments product.

TLDR

• South Korea’s National Tax Service exposed a crypto wallet seed phrase in an official press release.
• Unknown actors used the leaked mnemonic to transfer 4 million PRTG tokens worth about $4.8 million.
• Blockchain data showed three inbound transfers followed by a single outbound transfer of the full balance.
• Professor Jaewoo Cho confirmed the theft and said the tokens were difficult to cash out.
• In a separate case, police found that 22 Bitcoin seized in 2021 had disappeared from a cold wallet.

South Korea’s National Tax Service exposed a crypto wallet seed phrase in an official press release and lost $4.8 million in seized tokens. The disclosure allowed unknown actors to access 4 million PRTG tokens and transfer the full balance. Authorities confirmed the incident after blockchain researchers traced the movements onchain.

South Korea National Tax Service Leak Exposes 4 Million PRTG tokens

South Korea’s National Tax Service published a press release about enforcement actions against tax delinquents, and it included an unmasked wallet mnemonic. The release showed an image of a Ledger cold wallet and a sheet displaying the full seed phrase. Local media outlets, including Naver and Chosun, reported that officials failed to blur the sensitive information.

Soon after publication, blockchain analysts linked the exposed phrase to an Ether address holding 4 million PRTG tokens. Onchain records show three inbound transfers totaling 4 million PRTG into the address. The data then shows one outbound transfer sending exactly 4 million PRTG to another wallet.

Associate professor Jaewoo Cho of Hansung University’s Blockchain Research Center reviewed the flows and confirmed the loss. He wrote on X, “We have confirmed that 4 million PRTG tokens, worth approximately $4.8 million, were stolen from the mnemonic that was leaked.” He also stated that “fortunately, the other exposed mnemonics do not seem likely to cause any major issues.”

Cho added that the stolen tokens were difficult to cash out, and he said “the actual damage is at a negligible level.” However, he confirmed that unknown parties controlled the wallet after the disclosure. The National Tax Service has not publicly detailed recovery efforts.

Bitcoin Custody Case in South Korea Deepens Scrutiny

In a separate case, South Korean police discovered that 22 Bitcoin seized in a 2021 hacking probe had disappeared. Investigators found the loss in February 2026 after reviewing cold wallet holdings stored in a Gangnam police vault. The missing Bitcoin had a market value of about $65,567 per coin at the time of reporting.

Authorities arrested two suspects on Thursday after tracing the wallet movements. Investigators determined that the coins were moved using a mnemonic phrase that police had never controlled. Officials confirmed that internal procedures failed to secure exclusive access to the seed phrase.

The incidents follow scrutiny over custody practices within public agencies. Regulators also continue a probe into Bithumb after a 620,000 BTC fat finger promotion error. The exchange briefly credited users with about $43 billion in non-existent Bitcoin before correcting the balances.

The Financial Services Commission extended its investigation after criticism over system oversight. Officials have not released final findings on the Bithumb case. Police continue to investigate the missing 22 Bitcoin and the circumstances surrounding the wallet control.

The post South Korea Tax Office Leak Triggers $4.8M Crypto Loss appeared first on Blockonomi.

TLDR:

• Minnesota HF3642 would make it illegal for anyone to place or operate a crypto ATM in the state.
• The bill repeals Sections 53B.70–53B.75, erasing all existing kiosk licensing and compliance rules.
• New customers currently get full fraud refunds within 72 hours — a protection the ban would eliminate.
• Minnesota could become one of the first U.S. states to outright ban virtual currency kiosks entirely.

Virtual currency kiosks in Minnesota face a complete ban under proposed legislation introduced in the 2025–2026 session.

House File 3642 targets all crypto ATM operations in the state. The bill would prohibit any person from placing or operating a virtual currency kiosk in Minnesota.

It also seeks to repeal existing statutes that currently govern kiosk licensing, disclosures, transaction limits, refunds, and compliance requirements. This move marks a dramatic policy shift for the state.

What the Bill Proposes

Minnesota HF3642 introduces a straightforward and sweeping prohibition. Under the proposed Section 53B.691, no person may place or operate a virtual currency kiosk anywhere in Minnesota. The language of the bill leaves no room for exceptions or conditional approvals.

The bill also adds a new subdivision to Section 53B.69 to define terms specifically for the prohibition. This addition provides the legal framework needed to enforce the new ban effectively. It connects existing definitions in state law to the incoming restriction.

Beyond the ban itself, the legislation proposes a full repealer of Sections 53B.70 through 53B.75. These sections currently regulate kiosk operators through licensing, consumer disclosures, and transaction limits.

Their removal would erase the entire regulatory structure that governs crypto ATMs in the state today.

What Current Law Requires of Kiosk Operators

Under existing Minnesota statutes, virtual currency kiosk operators must follow strict disclosure rules. Before any transaction, operators must display all material risks on the kiosk screen for the customer to acknowledge.

These include warnings about price volatility, irreversible transactions, and potential fraud schemes.

Current law also requires operators to display a bold warning about scams. The warning specifically addresses fraudsters impersonating loved ones or government officials. It advises consumers that losses from fraudulent transactions cannot be recovered.

Transaction limits are also part of the existing framework. New customers face a maximum daily transaction limit of $2,000.

Existing customers, defined as those who have transacted for more than 72 hours, are subject to limits set by individual operators in line with federal law.

Refund Rules and Consumer Protections at Stake

Minnesota’s current law offers a refund pathway for new customers who fall victim to fraud. Under Section 53B.75, operators must refund the full transaction amount if a new customer was fraudulently induced.

The customer must contact the operator and a government or law enforcement agency within 14 days.

This protection applies strictly within the 72-hour new customer window. After that period, a customer transitions to “existing customer” status under Section 53B.69. At that point, the full refund obligation no longer applies.

If HF3642 passes, all of these consumer protections would be repealed along with the ban. There would be no licensed operators left to hold accountable, and no regulatory structure to enforce compliance.

Consumers who previously relied on these protections would lose that safety net entirely.

Industry and Regulatory Outlook

The bill’s passage would make Minnesota one of the few states to outright ban crypto ATM operations. Most states have moved toward regulation rather than prohibition. The trend across the country has been to tighten oversight, not eliminate it entirely.

For operators currently licensed in Minnesota, the bill represents a direct threat to existing business models. Many operators have invested in compliance infrastructure to meet the state’s existing requirements. A full ban would render that investment worthless.

The bill is now in the legislative process and has not yet been signed into law. Stakeholders across the crypto industry are expected to monitor its progress closely.

Its outcome could influence how other states approach virtual currency kiosk legislation going forward.

The post Minnesota Moves to Fully Ban Crypto ATMs With New 2025 House Bill appeared first on Blockonomi.

TLDR

• The UK Gambling Commission is reviewing whether licensed casinos can accept cryptocurrency payments.
• Tim Miller said the regulator will examine a clear path for crypto use in online betting.
• Companies offering regulated crypto services must obtain FCA authorization under the Financial Services and Markets Act 2000.
• The commission asked its Industry Forum to study how crypto payments could work within current gambling rules.
• Research shows crypto searches often direct British gamblers to illegal gambling websites.

The United Kingdom’s Gambling Commission has started formal talks on allowing cryptocurrency payments at licensed online casinos. The regulator confirmed it will assess how digital assets could fit within existing gambling rules. Officials said the review aligns with the country’s incoming crypto regulatory framework led by the Financial Conduct Authority.

UK Gambling Commission Studies Crypto Payment Framework

Tim Miller addressed the Betting and Gaming Council’s annual meeting in London on Thursday. He said the commission wants to examine “the potential path forward” for cryptoasset payments. He explained that the regulator aims to allow crypto as a consumer payment option for licensed gambling in Great Britain. He linked this move to rising consumer interest and regulatory changes. He also confirmed that companies conducting regulated crypto activities must secure FCA authorization under the Financial Services and Markets Act 2000.

He stated that growing appetite from punters prompted the review. He said, “We do now want to start looking at what the potential path forward would be.” He added that crypto could become a consumer payment option for licensed operators. However, he clarified that accepting crypto would not change casino licensing standards. He noted that operators must still pass customer suitability checks under existing rules.

FCA Sets Timeline as UK Gambling Sector Reviews Digital Assets

Miller said he asked the Industry Forum to explore the best route for crypto payments. The advisory group represents workers across the gambling sector. He did not provide a deadline for the review. He said illegal markets research shows crypto searches often lead British gamblers to unlawful websites. He added, “Crypto is one of the two biggest searches that lead British gamblers to illegal sites.”

He explained that allowing regulated crypto payments could help protect consumers. He stated that the commission wants to reduce exposure to illegal platforms. Meanwhile, the Financial Conduct Authority released a final consultation outlining ten proposals for crypto markets. The FCA plans to complete the process in March. It targets full implementation of the new regime by October 2027.

The FCA confirmed that companies must obtain full authorization before October 25, 2027. It stated that the application window will open in September 2026. Crypto asset service providers that miss the deadline will enter transitional rules. Those rules will allow existing products but restrict new offerings. The regulator published the timeline in a document dated January 8.

The post UK Gambling Regulator Weighs Crypto Payments for Casinos appeared first on Blockonomi.

TLDR

• Bank of America, Fidelity, and Morgan Stanley recommend allocating 1% to 5% of portfolios to Bitcoin.
• River reported that major institutions now treat Bitcoin as a portfolio diversifier.
• BlackRock advises limiting Bitcoin exposure to between 1% and 2% of total assets.
• JPMorgan analysts project Bitcoin could reach $266,000 if it rivals private gold investment.
• Bitcoin traded at $67,441 after falling 47% from its October peak of $126,080.

Major Wall Street firms now advise clients to hold small Bitcoin stakes within diversified portfolios. Fidelity Investments, Bank of America, and Morgan Stanley recommend allocations between 1% and 5%. These recommendations formalize Bitcoin’s role as a portfolio diversifier rather than a speculative trade.

River reported that several large institutions issued formal guidance on crypto exposure. The firms outlined allocation ranges that limit risk while allowing participation in price gains. Their guidance reflects structured portfolio models used in wealth management divisions.

Fidelity Investments advises clients to allocate between 2% and 5% to crypto assets, including Bitcoin. Bank of America recommends a 1% to 4% allocation range for diversified portfolios. Morgan Stanley suggests clients hold up to 4% in Bitcoin exposure.

Bank of America and Peers Outline Bitcoin Stakes Strategy

Bank of America placed Bitcoin within its alternative asset framework for private clients. The bank set allocation guidance between 1% and 4% of total portfolio value. The firm structured the guidance around volatility controls and diversification targets.

Fidelity Investments provided a higher allocation band of 2% to 5% for wealth clients. Morgan Stanley capped its recommended exposure level at 4%. BlackRock advised a narrower 1% to 2% range for Bitcoin holdings.

WisdomTree and JPMorgan Chase limited their recommendations to allocations of up to 1%. River compiled these figures in its institutional allocation report. The report described Bitcoin as a diversifier within multi-asset portfolios.

The firms structured their models to balance upside exposure with portfolio stability. They kept allocations limited to preserve overall asset mix targets. The guidance reflects internal research and asset allocation committees.

Price Levels and Long-Term Projections

Bitcoin reached a record high of $126,080 in October last year. The price later declined by 47% from that peak. CoinGecko data showed Bitcoin trading at $67,441 at the time of reporting.

Despite the price decline, several institutions published long-term projections. BlackRock CEO Larry Fink said Bitcoin could reach $700,000 per coin. He cited concerns about currency debasement and global financial instability.

Fidelity issued an earlier projection in September 2021. The firm estimated Bitcoin could reach $1 billion per coin by 2038. Jurrien Timmer supported that estimate using stock-to-flow and demand models.

JPMorgan analysts projected Bitcoin could reach $266,000 over time. They based the estimate on Bitcoin competing with gold as a store of value. Analysts compared private-sector gold investment totals with Bitcoin’s market capitalization.

JPMorgan stated that gold outperformed Bitcoin since last October. Analysts reported that the Bitcoin-to-gold volatility ratio fell to about 1.5. They described that level as a record low in their research note.

The bank said Bitcoin would need an $8 trillion market capitalization to reach $266,000. Analysts excluded central bank gold holdings from that comparison.

The post Bank of America, Morgan Stanley Support Bitcoin Stakes appeared first on Blockonomi.

TLDR:

• Over 1.17 million US job cuts were announced in the past year, the highest total recorded since the COVID-19 pandemic era.
• The US government led all sectors with 317,000 cuts, followed by UPS at 78,000 and Amazon with 30,000 job reductions.
• Companies openly state that AI tools allow smaller teams to handle the same workload, replacing $150K–$200K salary roles.
• Analysts warn of a ghost economy where corporate output grows but household income and consumer participation steadily decline.

US job cuts have reached alarming levels not seen since the COVID-19 pandemic. Over 1.17 million job cuts were announced across the country in the past year.

Around 600,000 of those cuts came in the first two months of 2026 alone. Companies across multiple sectors openly cite artificial intelligence as a driving force.

This trend is unfolding against the weakest white-collar hiring market since 2008, raising concerns about broader economic stability.

Major Companies Lead a Wave of Workforce Reductions

The scale of recent layoffs spans both public and private sectors. The US government alone accounted for 317,000 cuts, the largest single contributor to the total. UPS followed with 78,000 job reductions, while Amazon announced cuts of 30,000 workers.

Other major corporations have also trimmed their workforces considerably. Intel cut 25,000 jobs, and Citigroup reduced staff by 20,000. Nissan matched that figure, while Microsoft announced 15,000 cuts.

Market analyst account Bull Theory posted about the situation on social media platform X. The post noted that Verizon cut 13,000 jobs, Accenture removed 11,000, and Salesforce and Block each reduced headcount by 4,000. The figures paint a broad picture of workforce contraction across industries.

Companies are now openly stating that smaller teams can perform the same volume of work. This shift reflects how AI tools are replacing roles previously held by high-earning professionals. The pattern suggests a structural change rather than a temporary economic adjustment.

The Ghost Economy Risk and Long-Term Consumer Demand

The concern goes beyond job numbers alone. Higher-income workers earning between $150,000 and $200,000 annually drive a large portion of US consumer spending. When software replaces those roles, corporate margins rise but household income falls.

There is also a secondary effect worth noting. The same companies cutting staff sell products and services to that same income group.

If AI-driven layoffs reduce household income at scale, demand across retail, fintech, travel, and enterprise services weakens over time.

Bull Theory’s post warned of what it called a “ghost economy,” where output grows but broad participation in that growth declines.

Short-term profitability may improve, yet the customer base supporting those profits gradually shrinks. This creates a tension between rising productivity and weakening consumer demand.

Housing, autos, travel, subscriptions, and credit quality all become sensitive under these conditions. The labor market must absorb this transition before demand weakens at the economic core.

Without that absorption, the gap between corporate earnings and household financial health will continue to widen.

The post US Job Cuts Surge to Highest Level Since Pandemic as AI Reshapes the Workforce appeared first on Blockonomi.

Reid Hoffman, the prominent venture capitalist and co-founder of the world’s leading professional networking service, LinkedIn, is heavily invested in Ethereum, according to Arkham Intelligence.

Data cited by the firm shows Hoffman holds $6.1 million worth of ETH in a publicly known address. He also owns a CryptoPunk NFT, which was purchased for 150 ETH late last year.

Investment in Xapo

Hoffman has been a long-time supporter of crypto. He even led Greylock’s 2014 Series A investment in Xapo, a firm that built a Bitcoin wallet platform. He had then commented,

“Bitcoin has the potential to be a massively disruptive technology. It is the leading digital currency and it’s growing fast. As an investor and technologist, I am interested in bitcoin on three levels: As an asset, (i.e. a digital alternative to gold); as a currency (to create a new transactional layer on the internet); and as a platform (to build alternative kinds of financial applications).”

Nearly a decade later, in August 2023, Hoffman announced he would not act as a general partner in Greylock’s upcoming funds and instead opted to remain involved as a venture partner.

Meanwhile, his former PayPal colleague Elon Musk is backing Bitcoin, as Tesla, Inc. and SpaceX hold a combined $1.3 billion in Bitcoin on their balance sheets.

Short-Lived Gains

Earlier this week, Bitcoin and Ethereum each attracted gains after positive sentiment generated by a major US political speech by Donald Trump. But on Friday, both assets were slightly lower in early trading as broader technology stocks retreated.

Additionally, broader institutional activity shows large stakeholders dynamically adjusting positions: analytics data indicate that SpaceX moved over 1,000 BTC (approximately $94.5 million in value at that time) to Coinbase Prime in late 2025 amid speculation about the company’s future public offering.

On the Ethereum side, significant planned divestments by Ethereum co-founder Vitalik Buterin have drawn attention in recent weeks for the magnitude of tokens moved, even though the market remained largely unfazed by these sales.

The post The $6.1M Wallet: Inside LinkedIn Founder Reid Hoffman’s Ethereum Holdings appeared first on CryptoPotato.

After weeks of aggressive selling pressure and a sharp liquidation cascade toward the $60K region, Bitcoin is now attempting to stabilize. The recent rebound from the $62K area has pushed the price back toward a technically critical level: the channel’s mid-boundary. This level has repeatedly acted as dynamic resistance throughout the downtrend, making the current reaction highly important for the short-term direction.

Bitcoin Price Analysis: The Daily Chart

On the daily timeframe, the bounce from $62K was technically clean. That zone acted as a strong demand and absorbed the aggressive selling pressure that triggered the previous flush. However, as the price approaches the channel’s mid-line, upside momentum is beginning to compress. The market is no longer impulsive — it is hesitating. Historically, this level has rejected multiple times, and until it is reclaimed on a daily closing basis, the broader structure remains corrective rather than bullish.

If Bitcoin can secure a strong daily close above this mid-boundary with follow-through buying, the structure shifts. In that case, the next logical magnet sits in the $75K–$80K supply region. That area contains prior distribution and would likely be the next test of strength. On the other hand, if price fails here and loses the $66K–$67K short-term support region, the market risks rotating back toward $62K. A breakdown below that level would reopen the path toward the lower boundary of the channel and confirm continuation of the larger downtrend.

BTC/USDT 4-Hour Chart

On the 4-hour chart, the structure is more constructive. The recent breakout above the triangle formation at $67K signaled short-term bullish pressure returning to the market. That breakout shifted momentum, but price is now compressing between the broken triangle trendline below and the channel mid-line of $70K. This creates a short-term decision range.

A controlled pullback toward the broken triangle resistance-turned-support would be technically healthy and could provide the base for another push higher. If that support holds, continuation toward $70K becomes increasingly probable. However, losing that level would invalidate the breakout and suggest the move was merely a relief rally.

Sentiment Analysis

From a liquidity perspective, the Binance BTC/USDT liquidation heatmap shows a notable cluster of short liquidations building above $70K. This area stands out clearly as a leverage pocket. Liquidity tends to act as a magnet, especially when positioned above price during a recovery phase. If Bitcoin manages to break above the channel mid-line and build acceptance, a move into that $70K region could trigger a short squeeze, accelerating upside volatility as overleveraged shorts are forced to close.

Overall, Bitcoin is in a transitional phase. The short-term structure has improved, momentum is stabilizing, and liquidity sits overhead. Yet the daily chart still shows price trapped beneath a major dynamic resistance within a broader descending channel. Until that level is decisively reclaimed, the larger structure remains fragile.

The next daily close around the channel mid-boundary will likely determine whether this rebound evolves into a squeeze toward $70K and beyond, or whether it becomes another rejection that pulls price back toward $62K and reactivates the dominant downtrend.

The post BTC Price at a Crossroads: Rebound or Trap at the Channel Mid-Line? (Bitcoin Price Prediction) appeared first on CryptoPotato.

It’s been a relatively dynamic week within the cryptocurrency industry. The total market capitalization currently stands at around $2.36 trillion, which is more or less where it was last Friday when we did the previous weekly recap, but this doesn’t paint the whole picture.

You see, BTC started the week as anyone would expect – chopping to the downside, which inevitably led to an abrupt crash on Monday, when it dropped from above $67K to around $64K. This was followed by an intraday dead cat bounce and an immediate continuation to below $63,000. Sentiment was down bad, as was most of Crypto Twitter, but what followed raised a few eyebrows.

Bitcoin actually started recovering… notably. It soared from $63K to $70K in less than two days. And then came yet another sign that we are amidst the depths of crypto winter – the recovery was put to a halt, and the bears once again took control, pushing the price down to where we currently sit at slightly above $66K. In case you are wondering, we are still in a state of “extreme fear,” according to the popular Crypto Fear and Greed index, meaning that the masses are definitely not convinced that the worst is behind us. In fact, the most recent bounce did very little to improve the overall sentiment.

Meanwhile, the co-founder of Ethereum, Vitalik Buterin, continues selling ETH. So far, his total disposals reached around 18,700 ETH, even though he previously stated that he plans to sell 16,384 ETH to fund open-source software and hardware development, privacy tools, and security-critical infrastructure projects.

Elsewhere, we have some light at the end of the tunnel for XRP holders, with spot buying seemingly on the rise. While it has done little for the price so far, this could be a sign of a structural shift in XRP’s market dynamics. Bitrue reported a 212% surge in spot buying on February 26th, most of which was linked to ETF inflows, suggesting steady demand from funds.

All in all, the week started off as depressing, turned bullish, and then went back exactly to where it was in the beginning. Strength is being dissolved quickly as negative sentiment prevails, which is incredibly indicative of bear markets. That also makes it quite exciting to see what the next seven days have in store for us.

Market Data

Market Cap: $2.35T | 24H Vol: $113B | BTC Dominance: 56.1%

BTC: $66,097 (-1.5%) | ETH: $1,947 (+0.2%) | XRP: $1.35 (-3.2%)

This Week’s Crypto Headlines You Can’t Miss

Bitwise CIO Matt Hougan Rejects Jane Street Blame for Bitcoin Dip. Matt Hougan, the chief investment officer at Bitwise, has dismissed claims that Jane Street is orchestrating Bitcoin’s ongoing downturn. Instead, he said that the current price action is typical of a “classic crypto winter.” Read more.

BSC Fees Hit Multi-Month Lows as History Signals Bitcoin Rebound Ahead. The Binance Smart Chain (BSC) saw its total fees paid drop to $593,000, which pretty much marks the network’s lowest usage cost since at least August 2025. Read more. 

2026 US Midterms Emerge as Potential Turning Point for Crypto Markets. The 2026 US midterm elections are closing in. Many view them as a potential catalyst that’s tied to liquidity cycles in traditional financial markets, as well as a recovery in the broader cryptocurrency market. Read more.

Bitcoin’s Recovery Isn’t Here Yet – Here’s What Still Needs to Flip. Data shows that BTC remains trapped in a structurally defensive consolidation. This happens as the price oscillates between $60K and $90K. Therefore, for a recovery to start shaping, the price needs to push above the upper boundary. Read more. 

Vitalik Buterin Exceeds 16,384 ETH Selling Target with $38M in Total Disposals. The co-founder of Ethereum (and likely the most prominent person behind it), Vitalik Buterin, is dumping ETH. In fact, he has exceeded his previously stated plan to sell 16,384 ETH by almost 20%. Read more.

Wall Street Is Going On-Chain, And Investors Still Don’t Get It, Says Bitwise CIO. According to the CIO of Bitwise, investors often misinterpret what is truly happening in the market due to behavioural biases and think that Wall Street is already going on-chain. Read more.

Charts

This week, we have a chart analysis of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid – click here for the complete price analysis.

The post Buterin Offloads ETH, Bitcoin Unable to Push Past $70K, XRP Spot Buying Increases: This Week’s Crypto Recap appeared first on CryptoPotato.

ZachXBT has alleged that an employee at Axiom Exchange abused internal access to sensitive user data.

In a series of posts, the prominent crypto investigator identified the employee as Broox Bauer and claimed he used internal tools at Axiom to look up private wallet information and track user activity for trading purposes beginning in early 2025.

Internal Tools Exploited

Axiom was founded in 2024 by Mist and Cal and later participated in Y Combinator’s Winter 2025 batch. ZachXBT said the platform quickly became one of the most profitable companies in the crypto sector, and generated more than $390 million in revenue to date. He stated that he was retained to independently investigate allegations of misconduct at the firm after receiving reports.

According to the investigator, Broox served as a senior business development employee at Axiom based in New York. In recorded clips from a private group call, Broox allegedly said he could track any Axiom user through referral codes, wallet addresses, or user IDs, and claimed he could “find out anything to do with that person.”

In the same recording, Broox allegedly described initially researching 10 to 20 wallets and gradually increasing that number to avoid drawing suspicion. ZachXBT said Broox also set rules for how others could request user lookups and stated he would send a full list of wallets.

The investigator further claimed that in April 2025, Broox shared a screenshot from an internal Axiom dashboard displaying private wallets belonging to a trader identified as “Jerry.” In August 2025, Broox allegedly shared another image showing registration details and connected wallets for a trader named “Monix.” That same month, he reportedly discussed looking up Axiom users who had traded the meme coin AURA.

According to ZachXBT, members of the group created a Google Sheet compiling wallet addresses for multiple key opinion leader (KOL) targets. The sheet allegedly mapped wallet data obtained through Axiom’s internal dashboard by Broox. Multiple KOLs named in the document or shown in leaked screenshots were contacted and independently confirmed that the wallet information attributed to them was accurate, the on-chain sleuth added.

One of the targeted traders was identified as Marcell, described as a KOL known for purchasing large portions of meme coin token supplies from private wallets before promoting them to followers. ZachXBT said such traders were considered prime targets because private wallet addresses are rarely public and address reuse is less common, which increases the value of privileged information.

ZachXBT stated that Broox’s main wallet was identified through private chat messages and that related addresses were mapped. However, he said that due to the high volume of meme coin trades, it was difficult to isolate specific high-confidence examples of insider trading without access to Axiom’s internal logs to review trade timing. Funds from related addresses were said to have flowed primarily to several centralized exchange deposit addresses.

The investigator also alleged that Broox discussed plans during a February 2026 recorded call to help a recently hired Axiom moderator, identified as Gowno (Seb), quickly profit $200,000 by abusing access to internal tools. ZachXBT claimed that Broox shared screenshots of exchange balances in private chats to show that the activity had already generated returns.

ZachXBT added that because Broox is based in New York City, the matter could potentially fall within the jurisdiction of the Southern District of New York.

On-Chain Crime Investigations

From linking “Lick” to wallets tied to over $90 million in suspected thefts and US government seizure-related funds, to uncovering a $5-10 billion “Black U” laundering market on Tron allegedly connected to the Lazarus Group, ZachXBT has built a reputation for tracing major crypto crime networks.

He detailed how stolen assets from hacks on platforms like Bybit were funneled through illicit channels, and separately exposed a Canadian scammer accused of stealing over $2 million via Coinbase support impersonation schemes.

The post Leaked Call, Private Wallets, $200K Plan: Inside the Axiom Insider Trading Allegations appeared first on CryptoPotato.

Bitcoin has almost reversed its weekly losses after a recovery near $68,000. At the same time, whale wallet growth now suggests distribution among more large holders.

Santiment reported that the asset is approaching a new milestone, as the number of wallets holding at least 100 BTC is set to surpass 20,000.

100+ BTC Wallets Surge

At current prices, a wallet containing 100 BTC is worth a minimum of $6.78 million. According to the firm, these wallets are typically owned by high-net-worth individuals, investment funds, long-term holders, or institutions. Santiment also noted that when the number of such large wallets increases during or after price declines, as is currently the case, it can be interpreted as a bullish signal.

However, the blockchain analytics firm also pointed out that the overall percentage of Bitcoin’s total supply held by key stakeholders has not significantly increased so far, which it said helps explain why prices have remained suppressed. This means that the rise in 100+ BTC wallets indicates distribution across a broader group of large holders, rather than a small cluster maintaining tight control.

Such a trend reflects less extreme consolidation at the top tier of holders. At the same time, Santiment stressed that wealth continues to concentrate in stronger hands relative to smaller retail wallets, meaning the trend does not point to decentralization at the smallest ownership level.

In previous instances, increases in whale wallet counts have often occurred during accumulation phases that later supported price recoveries. Santiment added that for a stronger impact, the growth in large wallet numbers needs to be in line with growth in overall supply held, as retail investors gradually sell their coins to larger holders.

Despite the near-term constructive on-chain signals, concerns of further downside risks remain.

Bears Still in Control?

Market analyst Willy Woo, for one, tilted toward a bearish outlook for Bitcoin. He stated that the bearish sell-off by investors appears to have exhausted, which gives price room to consolidate sideways for about a month or potentially rebound toward the mid-$70,000 range, though he expects such a move would likely be rejected.

Woo explained that the broader market regime remains heavily bearish, with both spot and futures liquidity deteriorating. He added that he has never seen Bitcoin rally sustainably when both liquidity sources are bearish. Based on his assessment, he said Q4 could mark the end of the bearish trend, while bullish momentum may potentially return in Q1 or Q2 of 2027.

The analyst identified $45,000 as a typical bear market bottom. However, if global macro conditions break down, $30,000 would be fallback support, with $16,000 as the final level.

Another prominent market commentator, Doctor Profit, also previously predicted that while the “fastest” BTC crash may be over, the worst is yet to come.

The post 20,000 Strong: Bitcoin Whale Wallets Near Crucial Threshold as BTC Trades Close to $68K appeared first on CryptoPotato.