Crypto Breaking

Editor’s note: The Global Blockchain Show 2026 in Riyadh signals a maturation of the blockchain ecosystem as regional tech hubs elevate governance, finance, and collaboration. This editorial introduces the event coverage, emphasizing how policymakers, business leaders, and developers are aligning to explore practical use cases, open networks, and scalable infrastructure. As the organizers showcase a global lineup and deep dives into digital finance, governance, and Web3 tooling, readers will find a concise briefing that precedes the official press release. Our aim is to provide context for why Riyadh’s edition matters for the broader decentralized tech landscape.

Key points

Global Blockchain Show Riyadh 2026 expects about 10,000 attendees, 250+ speakers, 200+ exhibitors, and 300+ media representatives.

Expert-led sessions cover trends in blockchain adoption, tokenomics, and business applications with hands-on learning.

Panels with regulators, legal experts, and industry leaders will provide guidance on navigating markets.

Riyadh edition runs June 29–30, 2026, organized by VAP Group and powered by Times of Blockchain.

Event aims to showcase open metaverse, governance, security, and real-world impact of decentralized tech.

Why this matters

Riyadh’s hosting of Global Blockchain Show 2026 demonstrates a growing global emphasis on blockchain as a driver of digital economy and governance. The event’s scale and high-profile speaker lineup highlight increasing regulatory dialogue, enterprise adoption, and regional collaboration. By examining real-world use cases, security, and interoperability, the conference supports informed decision-making for investors, startups, and policymakers shaping the future of decentralized technologies.

What to watch next

Final speaker lineup and program highlights announced.

Partner and sponsor confirmations for Riyadh edition.

Regulatory sessions or policy guidance revealed.

Post-event insights and industry impact assessments.

Disclosure: The content below is a press release provided by the company/PR representative. It is published for informational purposes.

Global Blockchain Show 2026: Riyadh Becomes the Hub of Decentralized Innovation

The Global Blockchain Show 2026 in Riyadh is becoming an unmatched platform for thought leaders, innovators, and blockchain enthusiasts. After a successful feat at Abu Dhabi, the next edition, organized by VAP Group and powered by Times of Blockchain, is scheduled for 29 – 30 June 2026, in Riyadh. It will focus on the capability of blockchain technology, and will cover a broad spectrum of subjects from digital finance to decentralized governance.

Global Blockchain Show (GBS) will witness over 10,000 attendees, along with 250+ speakers, 200+ exhibitors, and 300+ media representatives.

Attendees will gain access to a comprehensive suite of expert-led sessions discussing trends in blockchain adoption, tokenomics, and business applications. The event will offer hands-on learning experiences, which allows participants to experiment with the latest blockchain solutions. This will help them in making a practical impact on businesses and communities.

GBS Riyadh edition too will see panels featuring regulators, legal experts, and industry leaders who will provide guidance on navigating complicated markets.

The event has previously welcomed an impressive lineup of renowned global leaders and leading innovators in the fields of blockchain and technology. H.E. Justin Sun, Founder, Global Advisor, and Prime Minister of TRON, HTX, and Liberland, and Yat Siu, Co-Founder and Chairman of Animoca Brands, have shared their insights. Ahmed Bin Sulayem, Executive Chairman and CEO of the Dubai Multi Commodities Centre (DMCC), and John Lilic, CEO of Hilbert Group, have also contributed. The event featured Dr. Marwan Alzarouni, CEO of Dubai Blockchain Center and CEO AI for Dubai Economy & Tourism, and Jason Allegrante, Chief Legal & Compliance Officer at Fireblocks. Rachel Conlan, CMO of Binance, Sunny Lu, CEO of VeChain, Abdulla Al Dhaheri, CEO of Abu Dhabi Blockchain Center, and investor Murad Mahmudov have also been part of this impressive event.

By bringing together stakeholders from different walks of the blockchain industry, the Global Blockchain Show reinforces Riyadh’s role as a main hub for tech and innovation.

The Global Blockchain Show Riyadh 2026 convenes visionaries, innovators, and industry leaders to discuss the disruptive potential of blockchain, Web3, and decentralized technologies. In two days, the conference dives deep into the actual-world impact of blockchain, next-gen trading, and the development of the Web3 ecosystem in Saudi Arabia. Participants will be treated to sessions on the open metaverse, superintelligence and creativity, and security and scalability through cloud infrastructure. Among the highlights are provocative exchanges on the future of Ethereum, how blockchain impacts global governance, and how to balance security with sustainability. Keynotes and fireside interviews will feature NFTs and the creator economy, quantum computing advancements, tokenization of real-world assets, and Web3 wallets of the future.

Attendees will depart motivated, armed with practical knowledge, and prepared to define the next generation of digital innovation. Not only a conference, the Global Blockchain Show is a worldwide gathering of ideas, collaboration, and expansion that propels the future of decentralized technology and economic empowerment.

Media enquiries :

Press contact : Media@globalblockchainshow.com

This article was originally published as Global Blockchain Show 2026: Riyadh Becomes the Hub of Decentralized Innovation on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Editor’s note: Global Games Show Riyadh 2026 signals a turning point for Saudi Arabia’s digital entertainment ecosystem as the kingdom accelerates growth across gaming, esports, and Web3. This press release outlines a multi-day program that combines live demonstrations, developer workshops, and high-profile panels, underscoring Riyadh’s emergence as a regional hub for interactive technology. The show also reinforces collaboration among startups, creators, and investors through dedicated networking spaces and matchmaking sessions. By bringing together leaders from across the industry, the event aims to catalyze partnerships and accelerate the creative economy envisioned in Vision 2030.

Key points

Global Games Show Riyadh 2026 brings together gaming, esports, and Web3 within Saudi Vision 2030.

The event features live demos, workshops, panels, and networking with industry leaders, indie developers to global publishers.

It is organized by VAP Group and powered by Times of Games, with parallel events Global AI Show and Global Blockchain Show on a single ticket.

Why this matters

By concentrating expertise and investment in Riyadh, the Global Games Show aims to accelerate Saudi Arabia’s creative economy and position the Kingdom as a regional and global hub for interactive technology. The conference highlights trends in immersive gaming, cloud gaming, and monetization strategies, and emphasizes collaboration across startups, developers, and publishers, aligning with Vision 2030’s diversification goals.

What to watch next

Updates on Day 1 and Day 2 sessions and key speakers.

Public announcements of participating companies and partnerships.

Ticketing details for the Global AI Show and Global Blockchain Show, accessible with one ticket.

Disclosure: The content below is a press release provided by the company/PR representative. It is published for informational purposes.

Global Games Show Riyadh 2026 : Fueling Saudi Arabia’s Vision 2030

Global Games Show Riyadh 2026 Riyadh edition is poised to become the ultimate destination for gaming enthusiasts, developers, and investors alike. Organized by VAP Group and powered by the Times of Games, the event promises a vibrant lineup of discussions and engaging experiences that symbolize the rapidly changing gaming sphere.

Participants can explore the latest in game development, esports, and interactive entertainment, with live demonstrations, workshops, and panels led by industry leaders. From indie developers to global publishers, companies will present their most innovative games and technologies, providing attendees with insights into the future of gaming.

Educational and strategic sessions focus on trends such as immersive gaming, cloud gaming, and monetization strategies. These discussions equip participants with knowledge to navigate challenges, leverage opportunities, and scale their ventures effectively.

Day 1 is all about the future of gaming technology, with talk on Saudi Arabia becoming a world esports capital, the next phase of gaming engines with Unreal Engine 6, brain–computer interfaces, and AI-generated game design. Experts will also discuss what the future of esports will look like in the Kingdom and how it is increasingly driving Vision 2030’s creative economy.

Day 2, entitled “Gameconomics,” explores the gaming business—from crowdfunded games to mobile gaming opportunity, player-coined communities, and developer–investor partnerships that form industry expansion.

By bringing a diverse mix of professionals under one roof, the Global Games Show strengthens Riyadh’s position as a hub for interactive technology and digital entertainment. Attendees also get access to other parallel flagship events, the Global AI Show and the Global Blockchain Show with just one ticket. GGS is a convergence of ideas, creativity, and opportunity in the gaming world.

Media enquiries :

Press contact : media@globalblockchainshow.com

This article was originally published as Global Games Show Riyadh 2026 : Fueling Saudi Arabia’s Vision 2030 on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Editor’s note: The Global AI Show in Riyadh signals how rapidly AI is moving from labs into everyday business, healthcare, and public life. This editorial looks at why the GAIS Riyadh edition matters for innovators, policymakers, and investors alike, and how responsible AI practices can help societies reap the benefits while mitigating risks. As the AI ecosystem expands across regions, high-profile events shape standards, collaboration, and opportunity. Crypto Breaking News aims to illuminate what this gathering could mean for global AI adoption and the maturation of AI-enabled industries.

Key points

GAIS 2026 in Riyadh focuses on AI across sectors including business, healthcare, and user-centric applications.

Ethics, regulation, and responsible AI deployment are central themes with dialogue on data privacy and algorithmic fairness.

Attendees will engage with AI tools and real-world business applications.

A distinguished lineup of global leaders and innovators, including Nate Glubish, Shafi Ahmed, John Nosta, Janet Adams, and Jeanie Fang.

Why this matters

GAIS Riyadh positions Saudi Arabia as a hub for AI-driven growth and international collaboration. The event’s blend of strategy discussions, hands-on demonstrations, and policy-focused sessions underscores how responsible, human-centered AI can accelerate innovation while safeguarding privacy and fairness. By convening leaders from tech, governance, and healthcare, GAIS Riyadh could influence global norms, spur partnerships, and accelerate practical AI deployments that benefit businesses and citizens alike.

What to watch next

Keynote and panel topics on AI applications in healthcare, drug discovery, and personalized medicine.

Discussions on AGI implementations and AI-driven healthcare advancements.

The evolving Saudi AI strategy toward 2030 and its global implications.

The emphasis on networking zones fostering partnerships and investments.

Disclosure: The content below is a press release provided by the company/PR representative. It is published for informational purposes.

Saudi Arabia Leads the AI Revolution with Global AI Show 2026

The Global AI Show 2026 in Riyadh brings an engaging experience for anyone interested in the future of artificial intelligence. Organized by VAP Group and Powered by the Times of AI, the Global AI Show (GAIS) is planned with a vision to explore AI’s potential across multiple sectors, from business solutions to user-centric applications. GAIS brings to fore the transformation of different human spheres led by AI.

Attendees will be a part of deep discussions on AI strategy, machine learning, natural language processing, and predictive analytics. Participants will also engage directly with AI tools and platforms, which will help them with applications in real-world business issues.

Ethics and regulation are central themes, and hence, there will be sessions dedicated to responsible AI deployment, algorithmic fairness, and data privacy. As AI adoption accelerates globally, understanding these frameworks is necessary for businesses and policymakers alike. The event will encourage dialogue on how innovation and responsibility can coexist to create long-term AI solutions.

Our past speakers were a remarkable mix of global leaders, visionaries, and innovators across technology, governance, healthcare, and cybersecurity. Honourable Nate Glubish, Minister of Technology and Innovation, Government of Alberta, Canada, has shared his insights alongside Pujya Brahmavihari Swami, Head of BAPS Hindu Mandir UAE. Professor Shafi Ahmed, a renowned surgeon, futurist, humanitarian, and CEO of Medical Realities, and John Nosta, leading innovation theorist in technology, AI, and medicine and Founder of NOSTALAB, have also been part of the lineup. Janet Adams, COO and Board Director at SingularityNET/ASI, and Jeanie Fang, Director of Data & AI at Crunchbase, have brought their expertise in artificial intelligence and data innovation.

Networking is a key focus, with interactive zones designed to facilitate partnerships, investments, and collaborations.

The Global AI Show places a strong emphasis on networking and collaboration, creating a dynamic environment where industry leaders, innovators, and investors can connect and explore new partnership opportunities. The sessions are designed to inspire forward-thinking discussions on the evolving role of artificial intelligence in shaping industries and societies worldwide.

The program includes a series of headliners, keynotes, and panels discussing the future of AI, its real-world applications, and its radical impact across critical industries. The topics address Saudi Arabia’s vision of an AI-led future and its implications globally, the vision for AI by 2030, and the changing partnership between humans and smart machines. These conversations will also delve into actual AGI implementations, the AI-driven revolution toward patient-centered healthcare, breakthroughs in drug discovery, the use of AI in personalized medicine, and predictive technologies transforming healthcare outcomes.

Collectively, these sessions highlight how AI is reshaping possibilities, facilitating cross-industry conversations, and propelling the next generation of technological and societal advancement.

By convening global AI experts, innovators, and stakeholders, the Global AI Show reinforces Riyadh’s reputation as a center for technological advancement. Get inspired, informed, and ready to use AI for meaningful impact, and be a part of GAIS Riyadh edition.

Media enquiries :

Press contact :

Media@globalaishow.com

This article was originally published as Saudi Arabia Leads the AI Revolution with Global AI Show 2026 on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Key Insights

CFTC asserts federal control over prediction markets, countering state gambling claims.

Prediction markets offer economic hedging and information aggregation value to society.

Clear federal rules spur U.S. crypto innovation and limit fragmented state enforcement.

CFTC Files Amicus Brief to Protect Prediction Markets

The U.S. Commodity Futures Trading Commission has filed an amicus curiae (“friend of the court”) brief to defend its authority over prediction markets such as Polymarket and Kalshi, amid a rising wave of state enforcement actions. In an X post, CFTC Chair Mike Selig highlighted that prediction markets are under federal jurisdiction, not state oversight, and serve legitimate economic purposes.

I have some big news to announce… pic.twitter.com/3OBNTaOnIL

— Mike Selig (@ChairmanSelig) February 17, 2026

Federal Authority vs. State Crackdowns

Selig noted that prediction markets have been regulated by the CFTC for over 20 years and serve a real purpose in the U.S. economy. Despite the crackdowns, the United States remains a global leader in financial markets as it approaches its 250th anniversary.

These platforms are derivatives markets, where a user can hedge commercial risks and offer valuable insights to society. States such as Massachusetts claim that sport-themed contracts transform these platforms into unlawful gambling activities, prompting Polymarket to file a federal jurisdiction suit.

Prediction Markets Drive Risk Management and Market Insights

Prediction markets help increase economic efficiency by pooling information and providing risk-management facilities. Selig added that such markets serve as a significant countercheck to media narratives as well, offering society more data-driven information. The CFTC’s involvement ensures legal clarity and can influence court decisions that may shape the future of U.S. markets.

Federal Oversight: Key to Crypto Innovation and Clarity

Exchanges such as Coinbase and Crypto.com, which offer prediction-style products, are under scrutiny by state regulators. Under the CLARITY Act, the proposed legislation would explicitly separate regulatory jurisdiction, with the CFTC regulating crypto-asset commodities and the Securities and Exchange Commission regulating digital securities. CLARITY Act

Industry leaders: Tyler Winklevoss described the filing as “huge,” and Senator Bernie Moreno emphasized the need for a clear regulatory picture when it comes to innovation in the United States.

This article was originally published as Breaking: CFTC Defends Prediction Markets, Challenges State Crackdowns on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

The legal clash between Kalshi and Nevada regulators intensified this week as the state’s gaming authority pressed forward with enforcement actions after a federal appeals court refused to halt the state’s conduct. The Ninth Circuit Court of Appeals on Tuesday denied Kalshi’s bid to block the Nevada Gaming Control Board from pursuing a civil case over Kalshi’s sports event contracts, effectively clearing the path for the regulator to proceed in state court. In short order, the Nevada Gaming Control Board filed a civil enforcement action, arguing Kalshi offers unlicensed wagering in violation of Nevada gaming law. Kalshi countered by seeking to move the dispute to federal court, echoing its long-held position that its activities fall under exclusive federal jurisdiction via the Commodity Futures Trading Commission (CFTC). The evolving dispute highlights a broader, unsettled regulatory landscape for prediction markets in the United States.

Key takeaways

The Ninth Circuit refused Kalshi’s request to pause Nevada’s enforcement efforts, allowing a state-court civil action to proceed against Kalshi over sports-related markets.

Following the ruling, the Nevada Gaming Control Board immediately filed a civil enforcement action in state court, asserting Kalshi operates unlicensed wagering on sporting outcomes in violation of state law.

Kalshi maintains it operates under exclusive federal jurisdiction and has argued that federal law supersedes state-level actions in this area, leveraging the CFTC’s authority over commodity derivatives.

The case mirrors similar tensions in other states and among other prediction-market operators, underscoring a broader regulatory crackdown on unlicensed gaming-like activity in the prediction space.

The regulatory narrative is being shaped in part by federal involvement, with the CFTC signaling its stance on jurisdiction over prediction-market activity and related contracts.

Sentiment: Bearish

Market context: The dispute sits at the intersection of state gaming regulation and federal commodity rules, a space that remains legally unsettled as regulators and platform operators test boundaries around prediction markets and their licensing needs. The CFTC has emphasized its jurisdiction over commodity derivatives traded on designated contract markets, while states push for traditional licensing regimes where wagering is involved.

Why it matters

For Kalshi, the Nevada case is a test of its central premise—that prediction-market activity should fall under federal oversight rather than state gaming statutes. If the state court ultimately concludes that Kalshi’s sports event contracts require licensing under Nevada law, Kalshi may face injunctions, penalties, or the need to halt certain markets within the state. The immediate practical effect would be to constrain Kalshi’s ability to offer sports-related contracts to Nevada residents, reinforcing the idea that licensing requirements can operate at the state level even when a company argues federal preemption.

For other prediction-market operators, the unfolding legal framework signals heightened regulatory risk. The ongoing tension between state enforcement actions and federal jurisdiction could prompt platforms to seek clearer licensing pathways or, in some cases, to trim or relocate markets to jurisdictions with more predictable rules. The broader regulatory climate also matters for investors and developers evaluating the growth potential of prediction-market ecosystems, including partnerships and product designs that align with licensing realities rather than contending with uncertain legal status.

From the federal perspective, the CFTC’s posture—evidenced by statements and amicus actions in related cases—suggests a willingness to defend a permissive view of what constitutes a derivative market under federal law. That approach has implications for how products are structured, how they are offered to users, and how regulators coordinate across state and federal lines. The involvement of the CFTC in similar matters, including its stance in parallel suits against other states, indicates that the federal framework may ultimately steer product development and regulatory compliance norms in the prediction-market space.

The case is also emblematic of a wider policy conversation about the boundary between what constitutes gaming under state law and what falls under the umbrella of commodity derivatives regulated by the federal government. As technology enables more sophisticated event-based contracts and as states consider licensing to govern consumer protections, a clearer, nationwide standard remains elusive. The legal arguments that Kalshi has advanced—namely, that its markets are governed by federal commodity laws rather than state wagering statutes—will likely continue to echo through courtroom corridors as other jurisdictions weigh similar actions.

The regulator’s position is reinforced by the state’s explicit assertion that Kalshi’s offerings amount to wagering on sports outcomes and therefore qualify for licensing under Nevada law. The regulatory calculus hinges on whether these contracts are sufficiently akin to traditional gaming or whether they can still be framed as commodity derivatives that fall under federal oversight. The Ninth Circuit’s decision not to pause the state’s enforcement action confirms that the state court system will be the next arena where these questions are tested, at least in the near term.

As this legal saga unfolds, observers will watch for how Kalshi frames its next strategic move—whether to intensify its federal-venue approach, pursue further appeals, or seek negotiated licensing accommodations that could permit continued operation in Nevada and beyond. The regulatory momentum in other states, along with potential federal actions, will shape the tempo and direction of future actions by prediction-market platforms and the regulators overseeing them.

For reference, Kalshi’s dispute has roots in earlier regulatory correspondence, including a cease-and-desist order that spurred Kalshi to sue Nevada in March of the previous year and a federal court ruling in April that temporarily blocked Nevada from taking action during the litigation. The state’s subsequent civil enforcement action underscores a shift from courts determining temporary relief to real-world enforcement remedies that could affect ongoing offerings. The legal arguments—centered on licensing requirements, intent to operate in a regulated gaming environment, and the scope of federal jurisdiction—will likely shape how prediction markets navigate compliance moving forward.

The broader industry context includes a notable cross-pollination of interests between traditional gaming regulators and digital-asset-adjacent markets. With players like Crypto.com pursuing similar matters against Nevada regulators, and with political and legal attention on the legality and design of prediction markets, the industry stands at a crossroads where licensing frameworks, consumer protections, and innovative financial instruments intersect. As these threads converge, the coming months are likely to produce more clarity—and more controversy—about where prediction markets fit within the U.S. regulatory tapestry.

Source references tied to the ongoing dispute include Nevada Gaming Control Board filings and docket activity, as well as court documents detailing Kalshi’s attempts to move the case to federal court. For a snapshot of the state-level actions, the regulator’s official filings and statements provide direct attestations of the legal theory the state is pursuing against Kalshi.

What to watch next

The state court civil enforcement action against Kalshi in Nevada: timeline for hearings and potential rulings.

Any subsequent filings or rulings from the Ninth Circuit or federal courts on Kalshi’s venue arguments and potential appeals.

Further amicus briefs or regulatory filings from the CFTC or other federal agencies regarding jurisdiction over prediction-market activities.

Developments in parallel cases, such as Crypto.com’s challenges to Nevada regulators and any related state actions against other prediction-market operators.

Sources & verification

Nevada Gaming Control Board press release and complaint PDF alleging Kalshi’s unlicensed wagering (kalshi-complaint.pdf).

Nevada Gaming Control Board press release on civil enforcement action against Kalshi (ngcb-files-civil-enforcement-action-against-kalshi.pdf).

CourtListener docket for State of Nevada ex rel. Nevada Gaming Control Board v. Kalshi LLC (docket entry showing the federal motion and related filings).

Kalshi’s federal court venue motion referenced in court records (CourtListener docket).

CFTC amicus brief discussion in related Crypto.com case in Nevada (Cointelegraph coverage referencing the CFTC stance).

Kalshi and Nevada clash over sports contracts

The dispute between Kalshi LLC and the State of Nevada over Kalshi’s sports-event contracts has moved from a regulatory order into a courtroom duel over jurisdiction and licensing. After Kalshi’s bid to halt Nevada’s enforcement was rejected by the Ninth Circuit, the regulator proceeded with a civil action in state court, arguing that Kalshi’s offerings amount to unlicensed wagering under Nevada law. Kalshi contends that its activities are subject to exclusive federal jurisdiction, a claim it has pressed since the outset of the case and one it has framed around the CFTC’s authority over commodity derivatives.

In a sequence of filings and rulings, the parties have mapped a jurisdictional battleground that is likely to influence the trajectory of prediction-market operators beyond Nevada. Kalshi’s argument rests on the premise that prediction-market contracts function as commodity derivatives and therefore belong under the federal oversight of the CFTC. Nevada’s counterpoint emphasizes licensing requirements within the state’s gaming framework, asserting that even if a contract resembles a derivative in structure, it still implicates wagering and gaming activities that require state licensing. The Ninth Circuit’s decision to deny a stay removes a preliminary hurdle for the state to pursue civil remedies, allowing the underlying enforcement to proceed while the broader jurisdictional questions continue to percolate in appellate and district court settings.

Public filings and press materials from the Nevada regulator outline the legal theory at stake: Kalshi’s markets are active in the state, but Kalshi has not secured the necessary licenses to operate those markets within Nevada’s borders. The regulator has pointed to the state’s existing framework for gaming and wagering to argue that Kalshi must obtain licenses for its sports contracts. Kalshi, meanwhile, has sought to position the matter within the federal regime that governs designated contract markets and other CFTC-regulated activities, arguing that state enforcement risks duplicative and conflicting obligations for a market participant operating across multiple jurisdictions.

As regulators, courts, and market participants monitor this case, the central questions will revolve around licensing, consumer protections, and the proper allocation of regulatory authority between state gaming authorities and federal commodity regulators. Should Kalshi prevail on the federal-venue theory in the long run, it could pave the way for broader operation of prediction-market platforms without state-level licensing, provided federal law offers a clear path. Conversely, a ruling affirming Nevada’s licensing demands could constrain Kalshi’s services in the state and prompt similar actions in other jurisdictions, thereby shaping the practical viability of prediction markets as a class of financial products in the United States.

For now, the Nevada case stands as a pivotal, high-stakes test of how prediction markets fit into a complex mosaic of gaming and commodities regulation. The coming months are likely to reveal how the regulatory regime coalesces—or fractures—around questions of licensing, jurisdiction, and the boundary between gaming normalities and financial-derivative constructs in the evolving landscape of digital markets.

This article was originally published as Nevada Sues Kalshi: Prediction Market Loses Bid to Halt State Action on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitwise and GraniteShares have moved to put political-event outcomes inside the ETF framework, filing with the U.S. Securities and Exchange Commission to launch six PredictionShares funds on NYSE Arca. The prospectuses describe a lineup built around binary event contracts that settle to $1 if the specified outcome occurs and $0 otherwise. The target scope spans three election cycles: the 2028 presidential contest, the 2026 Senate race, and the 2026 House race. Each fund would invest at least 80% of its net assets in binary-event derivatives traded on exchanges regulated by the Commodity Futures Trading Commission, with the expectation that the market’s implied probabilities drive share prices day to day. The filings emphasize that if the Democratic candidate were to win the 2028 presidential election, the fund would aim to deliver capital appreciation for investors.

The risk, as spelled out in the prospectus, is equally stark: should the Democratic candidate not win the 2028 presidential race, the fund would likely lose substantially all of its value. In effect, the product translates political prognostication into an ETF vehicle, allowing investors to buy and sell exposure to a binary outcome through regulated venues. The envisioned mechanism—contracts that settle at $1 for a successful outcome and $0 otherwise—creates a differentiated price signal that fluctuates with polls, news developments, and evolving sentiment around the election landscape.

The two filings come as Bitwise publicly circulated its six-ETF lineup under the PredictionShares label, while GraniteShares independently submitted a parallel set of six funds with the same structural logic. The broader narrative this week reflects a growing appetite among ETF sponsors to explore the application of prediction-market dynamics within traditional investment products, a theme that has drawn commentary from market observers about the normalization of politically oriented risk assets in mainstream markets.

Market observers have noted that these funds represent a novel fusion of prediction markets and exchange-traded funds. The arrangement would allow investors to select a fund aligned with a specific political outcome, rather than taking a broad bet on a party or policy. Price discovery for each fund would be driven by the market’s probability assessment for the referenced outcome, with share prices moving within a $0–$1 band in response to new information and evolving forecasts. This construct differentiates itself from conventional political bets by anchoring the exposure in an ETF structure and publicly traded shares on a major U.S. exchange.

The move has drawn attention from critics and observers alike. James Seyffart, a Bloomberg ETF analyst, commented that “the financialization and ETF-ization of everything continues,” underscoring how investors and issuers are increasingly packaging complex, event-driven risk into standardized, regulated vehicles. The fact that two separate issuers are pursuing similar six-fund lineups suggests a broader push to test how far prediction-market concepts can be integrated into mainstream financial products. Notably, Roundhill Investments had signaled a nearby path with a comparable six-fund filing focused on the same election outcomes, a reminder that the sector of prediction-market ETFs is far from a one-off experiment.

Market context

Market context: These filings arrive amid growing investor curiosity about how political outcomes can be monetized through regulated products, even as the broader market debates the valuation of event-driven exposures and the regulatory boundaries surrounding binary bets. The rollout aligns with a trend of experimentation within the ETF space, where sponsors seek to diversify risk-bearing strategies beyond traditional equity or fixed income exposures.

Why it matters

For investors, the proposed PredictionShares funds would represent a distinct way to express views on political outcomes, leveraging a market-driven pricing mechanism rather than a single directional bet. Because each fund targets a specific outcome, the price of a share would, in theory, reflect the market’s current odds for that outcome and adjust as polls and news flow shift. The structure’s 80% allocation to binary-event contracts on CFTC-regulated venues provides a path to enforce a standardized, regulated approach to what has historically been a hybrid of prediction markets and speculative trading.

From a market-structure perspective, the filings illustrate how ETF designers are exploring increasingly binary, outcome-based products as part of a broader push to repackage risk. The prospectuses stress that a successful outcome would deliver capital appreciation, while the opposite outcome could wipe out most of the value, highlighting both the potential upside and the material downside risk inherent in this genre of investing. The conversation around these products has intensified since similar proposals emerged earlier in the year from other issuers, signaling a test case for whether regulatory clearances, liquidity, and investor demand can align to support a new class of event-driven ETFs.

Industry observers also point to the regulatory and compliance considerations that such funds would entail, given their reliance on binary settlement mechanics and politically anchored exposure. The SEC and the CFTC would likely scrutinize the contract types, counterparty risk, liquidity, and the potential for market manipulation in a space where polling data and headlines can meaningfully swing valuations in real time. The debate is not merely academic: if these funds reach the market, they could influence how hedge-like exposures tied to political events are priced and traded, potentially widening the spectrum of publicly accessible tools for managing political-risk bets.

What to watch next

SEC action on Bitwise’s and GraniteShares’ prospectuses for the six PredictionShares ETFs, including potential comments or conditions from regulators.

Whether NYSE Arca lists the funds and the pace of any initial trading, including liquidity expectations and settlement logistics for binary-event contracts.

Further filings from other issuers, such as Roundhill, and the degree to which multiple teams compete in offering prediction-market ETFs.

Regulatory guidance or policy developments regarding binary event contracts and their use inside ETFs, which could influence product design and investor protection measures.

Sources & verification

Bitwise PredictionShares prospectus filed with the SEC: https://www.sec.gov/Archives/edgar/data/1928561/000121390026017412/ea0277256-01_485apos.htm

GraniteShares six-fund prospectus filing with the SEC: https://www.sec.gov/Archives/edgar/data/1689873/000149315226007125/form485apos.htm

Roundhill Investments’ similar event-contracts/prediction-market ETF filing referenced in coverage: https://cointelegraph.com/news/roundhill-investments-event-contracts-prediction-markets-etf-united-states-election

Related discussion of prediction markets’ role in open-source intelligence and market design: https://cointelegraph.com/opinion/prediction-markets-new-spycraft

Prediction markets move to the ETF stage: six funds, one framework

The filings reveal a structured approach to capturing political-outcome probabilities within six distinct funds, with each fund keyed to a specific outcome across three election cycles. The first pair targets the presidential result in 2028, designating a Democrat or a Republican as the winner; two more funds focus on which party captures control of the Senate in 2026, and the final two on House control. The investment thesis centers on deploying at least 80% of net assets into binary-event derivatives that settle at $1 if the referenced outcome materializes and $0 if it does not. While the concept offers a clear path to capital appreciation should the expected outcome occur, the prospectus makes the flip side explicit: if the anticipated outcome fails to materialize, the portfolio could experience a sharp decline in value, potentially approaching zero for the affected fund.

In practice, investors would see the daily price of each fund move between $0 and $1 as market participants adjust their views in response to polling data, election dynamics, and news flow. This pricing dynamic mirrors the very essence of prediction markets while placing it inside a regulated, exchange-traded wrapper. The framing also allows for diversified exposure: instead of a single bet on a party or a policy, an investor could select a fund aligned with a particular outcome, effectively creating a basket of binary-event bets under a single ticker and governance structure. The filings underscore that such products are not simply novelty investments; they are designed to be traded on regulated venues with defined settlement mechanics and disclosures about risk levels.

Industry voices have framed this development as part of a broader narrative about how traditional finance intersects with prediction-market concepts. The comment from James Seyffart about the ongoing “financialization and ETF-ization” of new risk assets encapsulates a sentiment that regulators and market participants are recalibrating the boundary between political risk and tradable financial instruments. The Roundhill filing referenced alongside Bitwise and GraniteShares signals that multiple teams are testing the appetite for six-fund lineups that cover presidential, Senate, and House outcomes, pointing to a possible wave of similar products if the regulatory path remains navigable and investor demand proves durable.

This article was originally published as Bitwise, GraniteShares Join Race for Prediction Market-Style ETFs on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

A prominent US crypto-policy group is urging lawmakers to press ahead with a bill designed to protect developers from criminal exposure as the industry seeks a clearer regulatory path. Coin Center sent a letter to the Senate Banking Committee in support of the Blockchain Regulatory Certainty Act (BRCA). The measure, first introduced in September 2018 by Rep. Tom Emmer, would be refined in a new draft authored by Senators Cynthia Lummis and Ron Wyden to clarify that software developers and infrastructure providers who do not handle user funds are not money transmitters under federal law. The advocacy comes as several developers faced legal action last year, underscoring the tension between innovation and enforcement. The letter, circulated publicly last week, argues that a robust, predictable framework is essential for the next wave of crypto engineering to thrive in the United States.

Key takeaways

The BRCA aims to shield non-custodial software developers and infrastructure providers from money-transmitter penalties, reducing chilling effects on innovation.

The latest BRCA draft, authored by Senators Lummis and Wyden, seeks alignment with existing internet-era protections by treating non-custodial actors as outside the money transmitter regime.

Coin Center argues that prosecutorial risk without clarity deters builders and pushes talent offshore, threatening domestic development of blockchain technologies.

The Senate Banking Committee is reviewing the BRCA draft but has not yet marked it up or advanced it to a vote, keeping the proposal in a transitional stage.

High-profile convictions of crypto developers last year—spanning Tornado Cash and Samourai Wallet-related cases—underscore the urgency of predictable, legislative safeguards.

Tickers mentioned: $BTC, $ETH

Sentiment: Neutral

Price impact: Neutral. The policy discussion does not present an immediate price move, though clearer rules could influence risk sentiment and capital flows over time.

Market context: The BRCA debate sits within a broader regulatory framework taking shape in Washington, where lawmakers balance innovation incentives with consumer protection, enforcement precedence, and the evolving stance on decentralized technologies amid ongoing CLARITY Act discussions.

Why it matters

For the crypto ecosystem, the central question is whether the United States can provide a stable, predictable environment that encourages experimentation without inviting endless prosecutions against developers. The Coin Center letter frames BRCA as a legal shield for the “invisible engine” of blockchain innovation—the developers who build protocols, tooling, wallets, and infrastructure without directly controlling users’ funds. If enacted with clear limitations, BRCA could prevent well-intentioned creators from facing criminal exposure merely for building software that operates on open networks.

From a policy perspective, the tension is palpable. Proponents argue that clear exemptions are necessary to prevent a chilling effect on innovation and to maintain the United States as a hub for software development and crypto entrepreneurship. Opponents, and some lawmakers, worry that broad protections might erode consumer protections and create loopholes for illicit activity. The CLARITY Act framework referenced in the discourse adds another layer to the conversation, signaling that congressional interest in crypto regulation remains active and multi-faceted.

The heightened attention to BRCA also comes against the backdrop of a handful of courtroom outcomes tied to crypto activity. The conviction of Tornado Cash developer Roman Storm, along with Samourai Wallet founders Keonne Rodriguez and Will Lonergan Hill, illustrates how prosecutors are approaching unhosted or non-custodial ecosystems. Those cases—concerning conspiracy to operate an unlicensed money-transmitting business—have prompted industry voices to call for clearer, legislature-backed guardrails rather than relying solely on prosecutorial discretion. The outcomes to date, including prison sentences for Rodriguez (five years) and Lonergan Hill (four years), with Storm awaiting sentencing, have become reference points for lawmakers debating BRCA and related initiatives.

In practical terms, BRCA seeks to harmonize crypto development with mainstream internet policy norms, where service providers, cloud hosts, and developer ecosystems enjoy certain shielding protections as long as they do not exert direct control over user funds. As policymakers assess the BRCA draft, the central question remains: can non-custodial innovation be safeguarded without compromising accountability and legitimate enforcement? The discussions reflect a broader global trend toward regulatory clarity, with other jurisdictions pursuing similar guardrails for open networks and decentralized tooling, and the U.S. now weighing where to draw the line between risk and opportunity for builders.

Looking ahead, the dynamic between enforcement actions and legislative safeguards will likely continue shaping the posture of developers, exchanges, wallet providers, and infrastructure projects. The BRCA debate is not occurring in a vacuum; it sits at the intersection of evolving governance, enforcement clarity, and the practical needs of teams building on top of open networks that increasingly underpin real-world financial ecosystems.

As the narrative evolves, the crypto industry will monitor whether the BRCA language will be refined to balance innovation with risk controls, and whether the Senate will move from committee review toward a formal vote that could set a precedent for how future blockchain-led technologies are treated under federal law. In the meantime, the industry remains watchful of parallel legislative efforts, including ongoing discussions around the CLARITY Act framework and related regulatory initiatives, which could influence how developers and service providers plan and deploy new products in the months ahead.

What to watch next

Keep an eye on whether the Senate Banking Committee marks up and votes on the BRCA draft in the near term.

Monitor any amendments that define the scope of “non-custodial” roles and whether certain infrastructure providers receive wider exemptions.

Watch for any official statements from lawmakers about the CLARITY Act framework and potential alignment with BRCA protections.

Track outcomes of related enforcement actions and how they influence legislative tempo or sentiment among policymakers.

Sources & verification

Coin Center’s letter to the Senate Banking Committee outlining the case for BRCA protections. View the letter

The BRCA’s revised framework discussed by Senators Cynthia Lummis and Ron Wyden (new version of the bill).

Convictions in 2025 related to Tornado Cash and Samourai Wallet founders, including sentencing details.

Context on the CLARITY Act and ongoing crypto-law discussions in the United States.

Regulatory push for blockchain developer protections advances amid prosecutions

The Blockchain Regulatory Certainty Act (BRCA) is at the center of a renewed dialogue about how to safeguard the people who write the software and build the networks that power crypto ecosystems. The latest iteration, crafted by Senators Cynthia Lummis and Ron Wyden, seeks to codify a clear exemption for developers and infrastructure providers who do not control user funds, positioning them outside the federal money-transmitter framework. The argument is that such protections would not only align with the way other internet-era actors operate but also ensure that the United States remains a leading hub for blockchain innovation and engineering.

Coin Center’s policy director, Jason Somensatto, emphasized in the letter that the same logic used to shield everyday internet service providers—routers, browsers, hosting services—should apply to blockchain developers. He argued that granting these protections would foster a healthy environment for experimentation, enabling future builders to pursue ambitious projects without the constant shadow of criminal liability. The letter’s tone reflects a broader desire to avoid the “chilling effect” that a lack of regulatory clarity can produce, especially for small teams and startups that frequently operate with limited legal certainty.

The discussions occur as a pair of converging realities shape the regulatory landscape. On one hand, professional risk management and consumer protection remain priorities for lawmakers. On the other, a number of developers have already faced serious penalties in high-profile cases, underscoring the need for a stable policy framework that distinguishes core technology development from illicit misuse. The BRCA proposal, and the CLARITY Act framework that informs many conversations around this topic, aim to create a predictable baseline that reduces ambiguity for builders while preserving guardrails for behavior that breaches the law.

In markets terms, this is not a direct price catalyst but a policy stance with potential longer-term implications for liquidity and risk sentiment. If BRCA provides a credible shield for legitimate development, it could alleviate some regulatory risk concerns that have weighed on ambitious blockchain projects seeking to deploy on U.S. soil. Conversely, if lawmakers pare back protections or push for tighter controls, the calculus for new projects may shift toward offshore jurisdictions or alternative engineering partnerships, influencing where teams choose to locate their operations and how they allocate capital and talent.

As the Senate continues to vet the BRCA draft, industry observers will be watching for two key signals: (1) whether non-custodial definitions are sharpened to prevent circumvention, and (2) whether the bill coexists with, or diverges from, existing enforcement precedents. The outcomes will likely inform not only domestic innovation pipelines but also how international developers view the United States as a base of operations. With major debates ongoing and high-stakes enforcement cases fresh in the public narrative, the push for regulatory clarity remains a defining feature of the current crypto policy environment.

https://platform.twitter.com/widgets.js

This article was originally published as Coin Center Urges Senate to Save Crypto Developer Protection Bill on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Ether has not reclaimed the $2,500 level since late January, and traders are awaiting catalysts to spark a fresh run. The latest signals from institutions point to a shift in appetite: some of the industry’s biggest players are reallocating from BTC-centric exposure toward Ethereum-focused ETFs. Harvard’s endowment disclosed an $87 million stake in BlackRock’s iShares Ethereum Trust during Q4 2025, while trimming holdings in the iShares Bitcoin Trust. Separately, the market for real-world assets tokenized on Ethereum surpassed $20 billion in aggregate value, reflecting a growing blend of traditional finance with blockchain rails. With the bear market bottom noted around $1,744 on February 6, analysts are watching for decisive momentum that could sustain a rebound.

Key takeaways

Institutional sentiment is shifting toward Ether as elite funds reallocate capital from Bitcoin to Ether ETFs.

BlackRock’s Staked Ethereum ETF features a 0.25% expense ratio and an 18% retention of staking rewards as service fees to intermediaries, balancing incentives in the staking flow.

Real-world asset tokenization on Ethereum has surpassed $20 billion in aggregate value, with broad participation from BlackRock, JPMorgan Chase, Fidelity and Franklin Templeton.

Harvard’s SEC filings show an $87 million addition to BlackRock’s iShares Ethereum Trust during Q4 2025, alongside a reduction in its iShares Bitcoin Trust.

Dragonfly Capital’s $650 million funding round signals sustained appetite for tokenized stocks and private credit offerings on-chain, reinforcing the momentum toward RWAs and custody infrastructure.

Tickers mentioned: (omitted as per guidance to avoid introducing tickers not clearly provided in the source)

Sentiment: Neutral

Price impact: Positive. The combination of renewed institutional interest and expanding RWA activity on Ethereum could support a constructive price bias for ETH over the medium term.

Trading idea (Not Financial Advice): Hold. The emerging mix of ETF activity and RWA infrastructure suggests potential for a delay-driven rebound, pending clearer price confirmations.

Market context: The ETH narrative sits at the intersection of regulated access to staking, continued ETF experimentation, and a broadening roster of on-chain real-world asset use cases. While spot flows have been modest in the near term, the participation of major asset managers in ETH-focused vehicles points to growing demand for regulated exposure and secure custody solutions within the crypto ecosystem. The sector remains sensitive to overall risk appetite, macro cues, and regulatory developments that could influence institutional allocations to crypto assets.

Why it matters

The trajectory for Ether as a mainstream financial instrument hinges on the alignment between traditional finance’s risk controls and the evolving capabilities of on-chain infrastructure. The ongoing expansion of RWAs on Ethereum demonstrates that large-scale capital is looking beyond pure speculative bets toward assets that can be tokenized, securitized, and traded within regulated frameworks. A 0.25% expense ratio on a Staked Ethereum ETF, paired with an 18% retention of staking rewards as fees, signals an industry attempt to balance competitive pricing with sustainable staking incentives. The underlying staking ecosystem—where custodians like Coinbase play a key role in facilitating services—highlights a path for institutions to access ETH staking without shouldering daily operational risk directly.

Moreover, the $20+ billion RWA market on Ethereum reflects a concerted effort to bring real assets onto the blockchain, blending gold, Treasuries and bonds with programmable settlement and liquidity access. The involvement of BlackRock, JPMorgan Chase, Fidelity and Franklin Templeton underscores how the line between traditional custody and digital asset infrastructure is blurring. In parallel, venture funding from players like Dragonfly Capital reinforces confidence in the long-run viability of tokenized stocks and private credit offerings, suggesting a maturation phase for the sector that could underpin sustained demand for ETH as a settlement and collateral layer.

Price catalysts remain tied to the broader risk environment. While a near-term move to $2,500 is discussed in market chatter, the path will likely depend on regulatory clarity, ETF inflows, and the pace at which RWAs scale from pilot projects to widely adopted products. The bear market bottom observed in early February may prove to be a reference point if new catalysts emerge, but investors will want to see consistent demand signals, improved liquidity, and clear governance for staking yield structures before committing meaningful capital.

What to watch next

Regulatory milestones for ETH-focused ETFs and any SEC updates on product approvals or adjustments.

Upcoming quarterly ETF flow data to gauge whether institutional inflows into Ether-based products accelerate.

New RWAs issuances and partnerships on Ethereum, including any large-scale tokenizations of traditional assets.

Price action around the $2,000–$2,500 zone and whether macro risk sentiment supports a durable breakout for ETH.

Sources & verification

Harvard’s 2025 Q4 Form 13F filings showing an $87 million stake in BlackRock’s iShares Ethereum Trust and adjustments to its iShares Bitcoin Trust.

MarketBeat data detailing changes in notable iShares Ethereum Trust holdings.

DefiLlama data on the RWAs aggregate on Ethereum exceeding $20 billion in value.

Dragonfly Capital’s $650 million fundraise focused on tokenized RWAs and related on-chain infrastructure.

Institutional bets build as ETH ETFs mature and RWAs expand

Ether (CRYPTO: ETH) has begun to demonstrate a degree of resilience that could be the prelude to a broader regime shift in active institutional exposure. The most meaningful signal to date is the combination of major asset managers embracing Ethereum-based products and the rapid expansion of real-world asset tokenization that sits atop the Ethereum chain. The Harvard disclosures, which show an $87 million addition to BlackRock’s iShares Ethereum Trust in Q4 2025, and a concurrent trimming of iShares Bitcoin Trust holdings, exemplify a nuanced preference for ETH-driven exposure over BTC-focused routes. This bifurcation in appetite suggests institutions are seeking regulated, scalable access to staking and on-chain liquidity, rather than relying solely on the volatility of the broader crypto market.

BlackRock’s Staked Ethereum ETF adds another dimension to the narrative. With a 0.25% expense ratio and an 18% retention of staking rewards as service fees, the vehicle aims to strike a pragmatic balance between cost efficiency and the revenue necessary to compensate the intermediaries that enable staking. The arrangement underscores a broader trend in the industry: in order to scale, staking products must align the incentives of custodians, exchanges, and fund managers with the long-term interests of investors seeking yield-bearing crypto exposure. Coinbase’s involvement as a staking service intermediary is cited as a notable practical factor in ensuring smooth on-ramp and on-chain execution for such portfolios.

Beyond the ETF mechanics, the size and scope of RWAs on Ethereum point to a maturation of the ecosystem. The aggregate RWAs on Ethereum now surpass $20 billion, a milestone that includes tokenized gold and a growing slice of US Treasuries, bonds, and money market funds. The involvement of major financial institutions—BlackRock, JPMorgan Chase, Fidelity, and Franklin Templeton—signals a coordinated push to bring more traditional assets under a tokenized, on-chain framework. When measured alongside other blockchain ecosystems, Ethereum’s RWAs stand out as a bridge between regulated finance and decentralized technologies, reinforcing the case for ETH as a robust platform for both settlement and collateral.

The venture funding environment is also shifting in this space. Dragonfly Capital’s recent $650 million round, aimed at real-world assets and tokenized financial instruments, illustrates persistent appetite from crypto-focused investors to back asset-backed models that operate in concert with established market infrastructure. In practice, this means more pilot programs, more credible custodial arrangements, and more sophisticated deals that link asset origination with tokenized issuance and on-chain trading. The result could be a multi-year trajectory in which RWAs contribute to sustained demand for ETH, even as the broader crypto market experiences sideways or choppy price action.

From a price perspective, the catalysts discussed—ETF inflows, deeper RWA adoption, and regulatory clarity—could provide the conditions for a rebound toward the $2,500 level noted in market discussions. The bear cycle that bottomed near $1,744 on February 6 has left a price floor that investors are watching closely, with the possibility of a renewed risk-on environment driving ETH higher as institutional confidence grows. While no single event guarantees a sustained rally, the confluence of regulated access, staking economics, and tangible on-chain assets tied to ETH strengthens the case for a constructive, though cautious, upside path in the medium term. The landscape suggests that the next phase of ETH’s price narrative will be driven less by frothy retail speculation and more by disciplined, asset-backed finance and regulated market access. Harvard’s stake in BlackRock’s ETH Trust and the evolving real-world asset framework remain central reference points as this story develops. For additional context on RWAs’ market dynamics, see Tokenized RWAs climb despite market rout, and for coverage of Dragonfly Capital’s funding round, visit Dragonfly’s $650M fund. The price-angle discussion around a potential move to $2,500 is also explored in ETH chart patterns and rally scenarios as noted in market analysis. Investors should monitor price action, ETF flow data, and regulatory developments to gauge how these structural shifts translate into tangible market movements.

This article was originally published as Ether Bulls Eye $2.5K as Staking ETF Debuts; RWA Market Cap Grows on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bridge, the stablecoin platform owned by payments giant Stripe, has won conditional approval from the US Office of the Comptroller of the Currency to organize as a federally chartered national trust bank. The OCC decision, announced on February 12, would enable Bridge to operate stablecoin products under direct federal oversight once final clearance is granted and custody digital assets, issue stablecoins, and manage reserves within a nationwide banking framework. Bridge described the milestone as a step toward scaling stablecoins with robust governance, noting that the GENIUS Act—signed into law in July 2025—creates a regulatory backdrop in which banks can participate more confidently. The move coincides with Stripe’s 2025 acquisition of Bridge for about $1.1 billion to bolster stablecoin payments.

Key takeaways

Bridge has earned conditional approval to organize as a federally chartered national trust bank, placing its stablecoin and custody activities under federal oversight once final clearance is granted.

The charter would empower Bridge to custody digital assets, issue stablecoins, and manage stablecoin reserves within a regulated banking framework.

Bridge’s move is part of a broader OCC push to license crypto firms as national trust banks, with BitGo, Fidelity Digital Assets, Paxos, Circle, and Ripple cited in related actions.

The GENIUS Act’s implications are now central to the conversation, with Bridge describing its compliance framework as “GENIUS ready” as regulators clarify stablecoins, yield, and oversight.

The American Bankers Association has urged caution, arguing that GENIUS rules remain unclear and that national charters could be used to bypass existing regulatory oversight, prompting a careful pace in approvals.

Policy discussions in the White House and in Congress continue to weigh stablecoin yield and the broader digital-asset market structure, potentially shaping how chartered institutions interact with tokenized assets and investor protections.

Market context: The OCC’s latest action comes as the broader push for regulated stablecoin rails gains momentum and lawmakers pursue a comprehensive digital asset framework in the Senate. With the GENIUS Act guiding how federal charters apply to crypto services, the market is watching closely for clarity on yield, custody, and interoperability across regulated banks and crypto platforms. The development signals a potential shift toward more formalized on-ramps for institutions seeking stablecoin-based payments and settlements.

Why it matters

For users and developers, a federally chartered national trust bank could offer stronger consumer protections, clearer governance, and the potential for more scalable, regulated stablecoin services. A formal federal framework may reduce counterparty risk and improve liquidity for on-chain payments that depend on stablecoins for settlement and cross-border remittances, creating a more predictable environment for builders and merchants integrating digital assets into payments rails.

For issuers and platforms, obtaining a national charter could streamline governance, custody, and treasury operations, enabling broader product offerings at scale. Yet regulatory clarity remains a work in progress, particularly as GENIUS Act rules are implemented and interpreted, leaving room for ongoing debate over how stablecoins fit within the broader financial system and how yield incentives align with investor protections.

From a market perspective, regulated rails could attract traditional finance participants into the crypto ecosystem, potentially boosting liquidity and interoperability while concentrating influence among a handful of chartered institutions. The balance between robust oversight and fostering innovation will shape how quickly these rails expand and how risk is managed across custody providers, issuers, and banks working on crypto-native products.

What to watch next

Final OCC approval for Bridge’s national trust bank charter and any accompanying compliance conditions.

Regulatory clarifications around the GENIUS Act, including timelines for implementing rules affecting stablecoins and tokenized assets.

Updates on other charter applications (Circle, Ripple, BitGo, Fidelity, Paxos) and their progress through the OCC process.

Any Congressional or White House developments on the digital asset market structure framework and stablecoin yield policy.

Stripe’s follow-on steps to integrate Bridge’s charter with its broader payments ecosystem and stablecoin issuance plans.

Sources & verification

Bridge announces conditional OCC approval to organize a federally chartered national trust bank (Bridge blog post).

OCC CAAS filing details Bridge’s application and approval on February 12 for a national bank charter.

Stripe’s 2025 acquisition of Bridge for approximately $1.1 billion to support stablecoin payments.

American Bankers Association letter urging OCC to slow crypto trust charter approvals and seek GENIUS Act clarity.

White House discussions with crypto and banking industry representatives on stablecoin yield and the market-structure framework.

Bridge advances toward a federally chartered stablecoin backbone under GENIUS Act

Bridge’s path to a federally chartered national trust bank represents a notable milestone in the evolving architecture of crypto rails in the United States. The OCC’s conditional blessing—arrived at a moment when several crypto firms are pursuing national trust bank charters—signals a shift from state-level trust status to a federally supervised framework. Bridge’s core business—custody of digital assets, stablecoin issuance, and reserve management—appears poised to move under the OCC’s direct oversight, subject to final approval conditions that would iron out governance, risk controls, and capital requirements. Bridge did not merely seek a license; it framed the move as an alignment with a broader regulatory philosophy spawned by GENIUS Act provisions, which aim to give regulated banks and crypto platforms clearer boundaries and predictable accountability in a rapidly changing landscape.

In a public post outlining the significance of the milestone, Bridge highlighted its commitment to a “GENIUS-ready” posture. The firm argued that a national trust bank charter would provide customers with a robust regulatory backbone, enabling them to build and scale stablecoin-enabled services with greater confidence. Bridge’s stance gains resonance in an ecosystem where stablecoins have become a fundamental component of daily settlement, cross-border payments, and DeFi liquidity flows. The company’s assertion that federal oversight can coexist with innovation reflects a broader assumption in the sector: when properly structured, regulated rails reduce systemic risk and lay the groundwork for responsible growth.

Context matters: Bridge’s bid comes amid a wave of OCC activity aimed at formalizing crypto banking services. Earlier in the year, regulators conditionally approved BitGo, Fidelity Digital Assets, and Paxos to convert state-level trust charters into national ones, while Circle and Ripple were also cited as pursuing national bank charters. The development underscores a shared regulatory objective—provide credible, centralized supervision for digital-asset activities that involve custody, settlement, and stablecoin issuance—without stifling technological progress. The OCC’s caution around GENIUS rule clarity, voiced by the American Bankers Association, reflects a healthy insistence on transparent standards before broad approvals, ensuring that national charters do not create loopholes that circumvent existing oversight or risk controls.

Bridge’s news sits within a larger policy milieu shaped by ongoing Senate deliberations on a comprehensive digital asset market structure framework. In parallel, White House officials have continued to meet with representatives from the crypto and banking sectors to discuss stablecoin yields and related conflicts of interest, highlighting the administration’s interest in aligning economic incentives with consumer protections. As policymakers weigh the balance between innovation and risk management, the question remains: will GENIUS Act guidance crystallize quickly enough to catalyze a new class of federally regulated crypto rails, or will regulatory ambiguity slow the pace of charter grants? The answer will influence how institutions, investors, and developers navigate the next wave of stablecoin adoption and institutional custody solutions.

Bridge’s forthcoming steps—whether that entails final OCC certification, the refinement of risk-management policies, or integration with Stripe’s wider payments infrastructure—will be closely watched by market participants seeking predictable regulatory footing for stablecoins and on-chain settlement. For many in the industry, the news signals a disciplined shift toward formalized governance and oversight that could unlock new levels of scale and reliability in digital-asset services. Yet the path remains contingent on regulatory clarifications, the pace of approvals for other charter applicants, and the evolution of how stablecoins are treated within the broader financial system. As the year unfolds, the OCC’s decisions and legislative updates will likely shape the contours of crypto banking for the foreseeable future.

This article was originally published as Stripe-owned Bridge Bank Gains OCC Conditional National Charter Approval on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitcoin (CRYPTO: BTC) price continued to consolidate near $68,000 on Tuesday, with market dynamics showing a split between seasoned holders and a newer wave of large traders. While the oldest addresses remain comfortably in the black, the latest cohort of whales is confronting material unrealized losses, a pattern that could press the price lower if selling accelerates. In this environment, on-chain metrics point to redistribution rather than awakening capitulation, even as warnings from traders and analysts circulate about the potential for continued downside if momentum deteriorates.

At the core of the discussion is the distribution of Bitcoin across wallet cohorts. Wallets holding 1,000–10,000 BTC control 4.483 million BTC in total. Among these, 1.287 million BTC (28.7%) belong to the short-term holder (STH) category, while 3.196 million BTC (71.3%) are held by long-term holders (LTH). The contrast is stark: STH coins carry a realized price of $88,494, which translates into a 22% unrealized loss at current prices, whereas LTH coins sit with a realized price of $41,626 and remain about 65% in profit. This asymmetry underscores how recent entrants are feeling the pressure while older capital maintains a substantial cushion against macro and cycle-driven declines.

The evolving calculus among these groups is central to the near-term trajectory. Analysts note that as long as Bitcoin trades above the LTH realized price of $41,626, the market shows redistribution rather than a wholesale capitulation event. In other words, the dominant sentiment hinges on whether the price can sustain levels above that structural marker while newer holders work through losses. The longer-term holders, by contrast, still enjoy a robust profitability profile despite the pullbacks seen in other parts of the cycle. A visualization of the realized prices for new and old whales helps illuminate the divide between cohorts and the potential for future retracements to test support levels.

The macro scene has also been shaping the on-chain narrative. On the supply side, the Binance whale influx ratio—an indicator measuring the share of the largest inflows relative to total inflows—rose to 0.62 from 0.4 over a two-week window to mid-February. That uptick signals a growing likelihood of whale-driven sell-side activity concentrated on the exchange, a dynamic that can amplify price softness during periods of volatility. In tandem, observers have pointed to specific high-visibility episodes of whale movement; the so-called Hyperunit whale, identified by some researchers as Garrett Jin, allegedly moved close to 10,000 BTC onto Binance, a transfer that further feeds the sense of outsized, concentrated selling pressure among the top addresses.

The long-term versus short-term tension also shows up in profitability metrics. The spent output profit ratio (SOPR) for LTH coins has dipped to 0.88, a sign that some coins are being sold at a loss. By contrast, the monthly average SOPR sits at 1.09, and the annual average remains elevated at 1.87, indicating that, on average, LTHs have remained profitable over longer time horizons despite interim drawdowns. In the risk-tolerant segment of the market, some veterans point to the resilience of the longer-cycle cohort, arguing that profitability remains intact even as near-term price action tests support and liquidity levels.

Adding nuance to the sentiment, Alphractal founder Joao Wedson highlighted that the long-term holder net unrealized profit/loss (NUPL) stands at 0.36, which implies that unrealized profits remain positive. Some analysts observe that in previous cycles, cycle bottoms tended to crystallize only after NUPL turned negative, suggesting that Bitcoin may require another dip to confirm capitulation among the LTH cohorts before a durable bottom is formed.

Beyond the numbers, the market faces a number of crosscurrents. A related angle compares the price trajectory to on-chain support levels and realized-price baselines. The critical hindsight point remains the $41,626 realized price for LTH coins; as long as BTC stays above that threshold, data indicate redistribution rather than a structural breakdown. This interpretation aligns with broader market observations that liquidity and risk appetite can tilt toward higher volatility during periods of on-chain reallocation, even as the long-run capacity for profitability endures among the largest holders.

Related: Ray Dalio’s world order warning revives case for Bitcoin as neutral money

BTC whale deposits increase as pressure on long-term holders builds

The on-chain narrative is further reinforced by the rise in whale inflows observed on Binance. The whale inflow ratio, which tracks the relative share of the ten largest deposits against total inflows, climbed to 0.62 from 0.4 between February 2 and February 15. A higher ratio is often interpreted as a signal that whale-driven selling pressure is rising, especially as price remains tethered near a multi-decade high. The data underscore that a portion of the recent selling pressure is concentrated among the largest players, potentially ebbing and surging in response to market risk sentiment and macro headlines.

Observers have flagged ongoing large-position activity in the ecosystem, including notable transfers that indicate a subset of the largest holders are rebalancing or reallocating risk. The on-chain complexity remains a reminder that a handful of mega-wallets can influence short-term liquidity and price discovery even in a market that otherwise enjoys strong macro support.

The market context remains mixed: while longer-term profitability endures for many investors, the near-term risk is skewed toward upside-downside asymmetries driven by concentrated holders. As the price holds around the $68,000 level, the interplay between STH losses and LTH resilience will likely dictate the next phase of volatility.

Market participants should keep an eye on how these dynamics evolve, particularly as new data surfaces about the behavior of large holders and the velocity of inflows. With liquidity and risk sentiment continuing to evolve in response to macro developments, the balance of profits and losses across wallet cohorts could shape both price action and investor psychology in the weeks ahead.

This article relies on on-chain data and analysis from CryptoQuant and related sources referenced in the links above, which provide the backbone for the ongoing conversation about how large holders are shaping Bitcoin’s near-term trajectory.

Market context: The broader crypto environment remains sensitive to liquidity conditions, regulatory signals, and ETF-related flows, with on-chain indicators offering a complementary lens to price charts for assessing risk sentiment and potential support or resistance levels.

Why it matters

For traders, understanding the split between ongoing profits for long-term holders and the losses faced by newer entrants is crucial for assessing risk and timing. The concentration of supply among a relatively small group of large wallets means that a handful of transactions can influence short-term liquidity and price discovery, particularly during periods of market stress or uncertainty. For builders and researchers, the data highlight the importance of monitoring realized prices and SOPR/NUPL trends as proxies for the behavioral shifts within the Bitcoin ecosystem.

From an investor perspective, the persistence of profits for LTH cohorts suggests that the market’s fundamental underpinnings remain robust, even as a subset of participants contends with unrealized losses. The distinction between redistribution and capitulation matters because it affects risk appetite, hedging strategies, and the pace at which new capital migrates between cohorts. Regulators and policymakers will also be watching how on-chain dynamics interact with macro conditions and institutional participation, as more market participants seek clarity on custody, reporting, and risk controls in the evolving crypto landscape.

For the broader market, the key takeaway is that Bitcoin’s price path is likely to be influenced by the behavior of a few large players and their willingness to adjust exposure in response to shifts in volatility, liquidity, and macro narratives. The balance between the cushion of realized profits for LTH and the pressure on STH coins will continue to shape risk sentiment and the pace of further price discovery in the medium term.

What to watch next

BTC price action around the 41,626 LTH realized price and the overarching psychological level near $68,000

Binance whale inflow ratio continuing to trend higher, signaling potential selling pressure from large holders

SOPR and NUPL readings for LTH cohorts, with attention to whether NUPL turns negative

Notable whale movements, including any large transfers similar to the so-called Hyperunit whale activity

Any regulatory or macro developments that influence liquidity and risk appetite in crypto markets

Sources & verification

CryptoQuant QuickTake: Bitcoins’ Whale Divide—Short-Term Pressure, Long-Term Control (on-chain wallet cohort breakdown and cost bases)

CryptoQuant: Whale Inflow Ratio data on Binance and related inflow dynamics

CryptoQuant insights on SOPR for long-term holders and NUPL readings

Joao Wedson/X posts noting LTH NUPL level (0.36) and related discussions

Ray Dalio’s world order warning and its discussion in relation to Bitcoin as neutral money

This article was originally published as New Bitcoin Whales Trapped Underwater—How Long Will They Stay? on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Kraken has expanded its institutional reach by linking its over-the-counter (OTC) desk to ICE Chat, Intercontinental Exchange’s real-time messaging platform used by banks and trading desks. Announced February 17, 2026, the arrangement makes Kraken the first cryptocurrency platform to be approved for ICE Chat, enabling quote requests and negotiations to flow directly within a system that aggregates more than 120,000 market participants. The move positions Kraken’s liquidity alongside traditional assets across a familiar workflow, signaling a broader push to incorporate digital assets into mainstream financial-market infrastructure. The OTC desk at Kraken handles large block trades in crypto spot and options, and the partnership with ICE is expected to evolve as institutions look for deeper, more integrated access to crypto liquidity.

Key takeaways

Kraken’s OTC desk is now integrated with ICE Chat, enabling institutional traders to access Kraken’s crypto liquidity directly through a widely used messaging platform.

ICE Chat connects more than 120,000 market participants, including banks, brokers, and trading desks, allowing real-time deal negotiation within established workflows.

Kraken is the first crypto platform approved to connect to ICE Chat, situating digital asset liquidity alongside traditional asset classes.

The integration is expected to expand over time, reflecting broader efforts to embed digital asset trading into traditional financial-market infrastructure.

ICE’s broader crypto initiatives include on-chain data collaborations, large-scale investments in crypto markets, and potential partnerships with wallet and payments providers, signaling a more integrated financial ecosystem.

Market context: Link the story to broader crypto conditions (liquidity, risk sentiment, regulation, ETF flows, macro, or sector trends) WITHOUT inventing facts.

Why it matters

The Kraken-ICE Chat linkage marks a notable step toward deeper institutional access to crypto liquidity. By enabling quote requests and negotiations to occur within ICE’s established messaging network, hedge funds, asset managers, and banks can integrate crypto trading into their existing workflows without resorting to separate channels or processes. The arrangement reduces friction for large crypto block trades, a key consideration for participants handling significant volumes in both spot and options markets. In practical terms, traders can coordinate, price, and settle trades within a single, familiar interface, potentially improving execution efficiency and speed while preserving governance and compliance controls.

The move also highlights ICE’s broader strategy to bring digital assets into mainstream capital-markets infrastructure. ICE operates ICE Chat, the New York Stock Exchange, and a suite of data, clearing, and technology services. Its push into crypto markets aligns with the industry-wide trend of bridging traditional finance with digital assets, leveraging established market infrastructure to widen participation and liquidity. In recent months, ICE has pursued a series of crypto-related initiatives, including a collaboration with Chainlink to pull FX and precious metals data on-chain, substantial investments in crypto-native ventures, and explorations into crypto payments capabilities. These steps underscore a broader ambition to weave crypto more deeply into the fabric of conventional trading and risk management.

The partnership comes amid a wider set of tokenization and on-ramp developments across major exchanges. Nasdaq has signaled a willingness to explore tokenized equities through regulatory channels, while the NYSE has discussed plans to operate a 24/7 trading platform for tokenized stocks and ETFs, integrating traditional post-trade settlement with blockchain-based processes. These efforts reflect a synchronous push from traditional venues toward digitized asset classes, where liquidity, transparency, and execution efficiency are often cited as critical advantages. The ecosystem is evolving rapidly, with market participants watching how these initiatives will interact with evolving regulatory standards and the pace of adoption by institutional users.

The timing of Kraken’s announcement overlaps with other notable industry moves. Earlier in the year, Kraken pledged to support a government-backed initiative to create “Trump Accounts,” a savings program for Americans under 18—an effort that reflects the broader intersection of crypto policy and retail-facing programs. This backdrop illustrates how crypto firms are navigating public policy while expanding their institutional capabilities, seeking to demonstrate value beyond consumer-focused products and toward core market infrastructure.

Why it matters (continued)

The integration could help amplify liquidity for large crypto trades by tapping into ICE’s global network, potentially reducing spreads and improving price discovery for institutional participants. It also signals to regulators and incumbents that crypto liquidity can be treated as part of the same market ecosystem that handles equities, bonds, and other traditional asset classes. For Kraken, the collaboration with ICE Chat may expand its reach among asset managers who prefer operating within standardized, risk-managed environments—furthering the normalization of digital assets within regulated financial marketplaces.

What to watch next

Expansion updates: Follow announcements about extending ICE Chat access to additional Kraken clients and other Kraken desks or counterparties.

Broader ICE crypto initiatives: Monitor developments tied to ICE’s data services, on-chain integrations, and potential partnerships in payments or custody.

Tokenization momentum: Track regulatory progress and product launches related to tokenized stocks and ETFs at Nasdaq and NYSE, which could influence liquidity and settlement paradigms.

Data and settlement enhancements: Look for updates on ICE’s Consolidated Feed and how it interoperates with on-chain data streams and DeFi-native pricing mechanisms.

Sources & verification

Kraken Integrates with ICE Chat to Expand Institutional OTC Access — Business Wire press release (official announcement of the integration).

ICE Chat and Market Participation — ICE corporate communications outlining the platform’s reach beyond traditional markets.

Chainlink and ICE Forge On-Chain Data Collaboration — Cointelegraph coverage detailing ICE’s data-on-chain initiative.

ICE Invests in Polymarket — Cointelegraph reporting on ICE’s $2 billion investment and the valuation context.

Nasdaq and NYSE tokenization efforts — Cointelegraph coverage of Nasdaq’s tokenized-stocks push and NYSE’s plans for 24/7 tokenized-trading platform.

What the announcement changes

The Kraken-ICE Chat integration represents a concrete step in the ongoing evolution of institutional crypto access. By embedding Kraken’s liquidity within ICE’s established communications platform, the move lowers barriers for large-scale crypto trading and aligns digital asset execution with the workflows many institutions already use for other asset classes. The collaboration reinforces the idea that cryptos are not merely retail instruments but elements of a broader, interconnected market infrastructure that includes data, clearing, risk management, and settlement. As the ecosystem expands, institutions may increasingly rely on a combination of on-chain data, centralized exchanges, and OTC desks to manage exposure, price risk, and execution efficiency across diverse crypto products.

What to watch next

Monitoring quarterly updates from Kraken and ICE for new client onboarding and expanded platform access.

Regulatory developments affecting crypto-asset trading infrastructure and tokenized securities, including any policy shifts impacting tokenization and cross-market liquidity.

Progress on ICE’s partnerships with data providers and on-chain data feeds, and how these integrations affect price discovery and risk management.

This article was originally published as Kraken Joins ICE Chat to Boost Institutional OTC Access on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

MicroStrategy, now known as Strategy (NASDAQ: MSTR), expanded its Bitcoin holdings last week amid continued market challenges. The company purchased 2,486 Bitcoin, bringing its holdings to over 717,000 coins. This purchase, valued at nearly $50 billion, reflects Strategy’s unwavering commitment to Bitcoin, despite bearish market conditions.

Last week, Strategy bought 2,486 Bitcoin, spending $168 million. With this latest acquisition, its Bitcoin stash now exceeds 717,000 coins. This purchase came as the company continued using its stock sales to fund the Bitcoin buys, causing shareholder dilution.

Strategy has acquired 2,486 BTC for ~$168.4 million at ~$67,710 per bitcoin. As of 2/16/2026, we hodl 717,131 $BTC acquired for ~$54.52 billion at ~$76,027 per bitcoin. $MSTR $STRC https://t.co/wvxRYZlQ3Y

— Michael Saylor (@saylor) February 17, 2026

The company has sold over $7.8 billion in shares and is set to sell more. In addition to the stock sales, Strategy holds over $20 billion in preferred STRK. The number of outstanding shares now surpasses 312 million, a significant rise from previous years. As the company’s Bitcoin strategy endures, Michael Saylor, the firm’s former CEO, pledged to keep purchasing Bitcoin indefinitely. He also mentioned plans to swap company debt for additional shares in the future.

Technical Indicators Point to Bitcoin’s Potential Decline

Bitcoin’s price continues to struggle, showing a bearish pattern in the charts. Analysts are concerned that Bitcoin may drop further before any potential rebound. The technical setup suggests a bearish pennant pattern, signaling a price drop.

Bitcoin’s price is moving toward a potential crash, with projections hinting at a fall to $60,000. The bearish pattern emerges from a confluence of a vertical line and a symmetrical triangle. If Bitcoin fails to rise above the $80,000 resistance, the negative outlook will remain intact.

In the past, Bitcoin’s behavior has shown vulnerability to market sentiment shifts. Standard Chartered recently adjusted its Bitcoin price forecast, lowering it from $150,000 to $100,000. The bearish sentiment comes as Bitcoin struggles to break above critical resistance levels, keeping the coin under pressure.

Geopolitical Risks Amplify Bitcoin’s Struggles

Bitcoin faces additional pressure from geopolitical concerns, which weigh heavily on its performance. Tensions in the Middle East, including rising conflict risks between the U.S. and Iran, could impact Bitcoin’s price. Despite negotiations between the U.S. and Iran, ongoing military movements create uncertainties for the market.

The ongoing geopolitical uncertainty has contributed to Bitcoin’s volatility, as the coin fails to establish itself as a safe-haven asset. Bitcoin’s price has been closely linked to broader market sentiment, especially during times of conflict. This ongoing instability is likely to exacerbate the challenges faced by Bitcoin in the short term.

As the Middle East crisis develops, it is unclear how Bitcoin will respond. While some might view it as a hedge against traditional markets, Bitcoin has proven to be vulnerable to large-scale geopolitical events. With global events continuing to influence cryptocurrency prices, Bitcoin’s future remains uncertain.

This article was originally published as MicroStrategy Expands Bitcoin Holdings to $50 Billion Despite Market Woes on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Key Insights:

Binance whale inflow ratio surged, showing growing dominance of large BTC transactions.

Bitcoin’s 22% YTD decline has pushed sentiment into extreme fear territory.

Falling stablecoin liquidity makes whale moves more influential on price action.

Market Weakness Deepens Across Crypto

The larger crypto market is still under intense pressure with Binance registering a massive increase in whale activity. Bitcoin is trading around $68,000, dropping over 22% in the year, the lowest first-quarter performance since 2018.

The month of January ended with a sharp loss of 10% and February has been unable to provide relief yet. This decline is reflected in investor sentiment, where the Crypto Fear & Greed Index is solidly in the extreme fear zone. The range of $60,000 to $65,000 has been cited by analysts as one of the key support zones that might dictate the direction in the near future.

Whale Inflows on Binance Spike Suddenly

Despite bearish price action, on-chain data points to a notable shift in large-holder behavior. According to CryptoQuant, Binance’s whale inflow ratio jumped from 0.40 to 0.62 between February 2 and February 15, indicating that a large portion of exchange inflows is currently taken over by large holders.

A single large holder, known as the Hyperunit whale, allegedly transferred close to 10,000 BTC to Binance as the volatility increased. A number of other high-value transfers occurred in their turn, indicating that institutional-scale players are actively repositioning as prices get weaker.

Whale Inflow ratio surges on Binance amid market correction.

This correction is testing all types of investors, from retail participants to whales and even institutions.

According to the whale inflow ratio, we are seeing a clear surge in whale activity on Binance,… pic.twitter.com/TVJiUAWy1O

— Darkfost (@Darkfost_Coc) February 17, 2026

In the past, increasing numbers of whales may cause sell-side pressure. They can, however, reflect tactical actions in times when deep liquidity on the major exchanges becomes crucial.

Liquidity Tightens as Capital Pulls Back

Binance has seen declining stablecoin liquidity. The exchange has registered three consecutive months of negative netflows of stablecoins, with almost $3 billion leaving the platform this month. Since November, the total stablecoin reserves have been decreasing by nearly $9 billion.

This tightening of liquidity increases the effect of the whale movement since big transfers can more readily influence the short-term price action.

Selling Pressure or Strategic Accumulation?

The statistics provide a varied picture. The low liquidity and risk-off flows suggest caution, but the rise in whale activity implies that the large players are finding opportunities at these levels. It remains unclear whether this signals distribution, hedging, or silent accumulation.

This article was originally published as Binance Whale Inflows Surge as Bitcoin Tests Critical Support on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Nakamoto, the Bitcoin (CRYPTO: BTC) treasury company formerly known as KindlyMD, has signed definitive agreements to acquire BTC Inc and UTXO Management GP, advancing its plan to build a Bitcoin-native operating company. The move consolidates media, events and capital allocation under a single public vehicle as the company pivots away from its prior healthcare focus. The arrangement underscores a broader push to formalize Bitcoin-centric businesses within a listed framework, linking media properties, advisory services and asset management under one umbrella.

Key takeaways

The all-stock deal values the acquisition at roughly $107.3 million, calculated from a fixed $1.12 per share under Nakamoto’s call-option framework combined with Friday’s close around $0.2951.

BTC Inc and UTXO Management GP shareholders will receive 363,589,816 shares of Nakamoto common stock on a fully diluted basis, diluting existing holders given the price disparity with the current trading level.

The transaction leverages a Marketing Services Agreement that granted Nakamoto a right to acquire BTC Inc, which itself owned a call option to acquire UTXO, tying three entities together through a stock-based consideration.

Nakamoto’s balance sheet currently includes 5,398 BTC, a figure that places it ahead of several other public Bitcoin treasury holders and aligns with its expanded treasury strategy long in the works.

The deal follows a broader Bitcoin treasury pivot, built on the idea that media, advisory and asset-management services can be bundled under a public company dedicated to Bitcoin, even as the broader market faces volatility and downcycles.

Tickers mentioned: $BTC, $NAKA

Sentiment: Neutral

Price impact: Negative. The stock traded lower after the announcement as dilution concerns weighed on investors.

Market context: The deal arrives amid a testing phase for corporate treasury strategies in crypto markets. Bitcoin’s price has experienced a steep swing in recent quarters, with the asset retreating from previous peaks and testing investor appetite for Bitcoin-focused corporate moves. The broader market environment has underscored the tension between ambitious, asset-backed business plans and the need for actionable, near-term value delivery to shareholders.

Why it matters

The proposed acquisition acts as a strategic centripetal force for Nakamoto’s ambitions to create a Bitcoin-native operating ecosystem. By bringing BTC Inc, known for Bitcoin Magazine and The Bitcoin Conference, together with UTXO Management GP, which provides advisory services and connections to Bitcoin-focused capital, Nakamoto aims to streamline the decision-making and capital allocation process around Bitcoin. This consolidation could shorten the path from media coverage and thought leadership to real-world investment and capital deployment in the Bitcoin space.

From a portfolio perspective, Nakamoto’s 5,398 BTC on its balance sheet places the company among the more substantial publicly disclosed Bitcoin treasuries. The tally is frequently cited by market trackers such as BitcoinTreasuries.NET, which catalogs corporate bitcoin holdings and related disclosures. The combination of media influence, conference branding and asset-management capabilities under one roof positions Nakamoto to influence both public perception and practical investment flows around Bitcoin. The move follows a broader industry pattern where companies seek to align communications, investor relations and treasury management under a single corporate entity to maximize efficiency and visibility.

The background of the deal is also noteworthy: Nakamoto rebranded from KindlyMD after facing headwinds in its healthcare business, including a subpar share price performance that spurred a strategic repositioning toward Bitcoin. This pivot — from healthcare services to a Bitcoin-focused treasury and media strategy — illustrates how public markets reward clear alignment between asset exposure and governance, as well as a coherent long-term plan for capital allocation in an asset class that remains highly cyclical and sensitive to macro shifts.

In the context of the crypto downturn, where Bitcoin’s price has declined from peaks observed during the previous cycle, investors are closely watching how treasury-centric models can sustain growth and deliver cash flow in a public market setting. As Cointelegraph and other outlets have reported, treasury adoption and the formation of Bitcoin-focused public vehicles have faced pressure during periods of downturn, making the current deal a critical test case for the viability of a diversified, Bitcoin-centric public platform.

Related coverage has highlighted the interplay between Bitcoin media, events and investment vehicles as a potential accelerator for mainstream adoption, even as the sector contends with volatility and evolving regulatory scrutiny. The current transaction, with its all-stock consideration and fixed-price framework, emphasizes a willingness to prize strategic alignment and long-term value creation over near-term share-price parity.

What to watch next

Regulatory approvals and closing conditions for the acquisition of BTC Inc and UTXO Management GP, including any required shareholder votes.

Completion of the stock issuance: timing, share registrations and any subsequent adjustments to the fully diluted share count.

Performance of BTC Inc and UTXO assets under Nakamoto’s ownership, especially how BTC Inc’s media assets (Bitcoin Magazine) and conference operations scale within the public vehicle.

Monitoring Nakamoto’s treasury strategy as new corporate cash flows emerge from the consolidated platform and whether additional acquisitions or partnerships follow.

Sources & verification

Nakamoto Holdings announces definitive agreements to acquire BTC Inc and UTXO Management GP, with details of the all-stock consideration and call-option framework.

The Marketing Services Agreement (MSA) underlying the call option and acquisition structure, including the right to acquire BTC Inc and its implications for the deal’s valuation.

Nakamoto’s disclosed Bitcoin holdings (5,398 BTC) and the company’s public market status on Nasdaq under NAKA, as reflected in industry trackers and the company’s filings.

Bitcoin Inc’s role as the parent entity for Bitcoin Magazine and organizer of The Bitcoin Conference, and UTXO’s advisory relationship with 210k Capital.

BitcoinTreasuries.NET and publicly accessible market data pages showing Nakamoto’s position relative to other public Bitcoin treasury holders and the company’s market capitalization trends.

Key figures and next steps

Nakamoto broadens Bitcoin treasury play with all-stock acquisitions

Nakamoto’s latest pivot marks a concerted effort to transform a niche treasury strategy into a scalable, publicly traded platform. By acquiring BTC Inc, which operates Bitcoin Magazine and The Bitcoin Conference, and UTXO Management GP, which provides Bitcoin-focused advisory services, the company is positioning itself as a one-stop shop for Bitcoin media, events, strategy and asset management. The stock-based consideration, fixed at $1.12 per share, is substantial relative to the current trading price, underscoring a willingness to accept significant dilution to accelerate the consolidation of these assets under a single corporate umbrella. The resulting combined entity would have a diversified revenue stream spanning media properties, event-driven revenue and Bitcoin advisory and asset services, all tethered to the performance of the Bitcoin ecosystem itself. The size of the consideration — 363,589,816 shares on a fully diluted basis — reflects both the ambition of the deal and the complexity inherent in cross-entity stock swaps tied to a volatile asset class.

From a governance perspective, the transaction hinges on a stock-for-assets approach that aligns incentives with Nakamoto’s long-term growth strategy. The fact that Nakamoto’s stock trades on Nasdaq under NAKA, with a market capitalization around a few hundred million dollars, adds pressure to deliver tangible upside for investors beyond mere consolidation. The market’s initial reaction appeared negative, as indicated by a post-announcement decline in Nakamoto’s share price, a typical response when large pools of new shares enter the float. Yet the strategic logic remains: a public vehicle that can coordinate Bitcoin media reach, capital-formation activities and wallet-level treasury strategies may unlock synergies that are not as easily realized through standalone entities.

Historically, Nakamoto’s Bitcoin holdings have been a cornerstone of its narrative. With 5,398 BTC on its balance sheet, the company sits ahead of several peers in the public-treasury space, positioning it as a reference point for others evaluating whether to scale similar approaches. The integration of BTC Inc’s media empire and UTXO’s advisory reach could deepen liquidity for Bitcoin-focused assets and accelerate capital allocation to Bitcoin-related ventures, potentially smoothing the path for new fundraising or strategic partnerships.

As this process unfolds, observers will watch how the combined entity manages governance, treasury allocation, and the delivery of near-term earnings or cash flows that can validate the business model. The deal’s all-stock structure implies a forecast of growth fueled by equity rather than immediate cash, a choice that emphasizes confidence in long-run value creation but also invites closer scrutiny of dilution effects and ongoing capital discipline.

In summary, the acquisition represents a deliberate bet on the breadth of the Bitcoin ecosystem — media influence, conference-driven engagement, and advisory and asset-management services — converging in a single public platform. If executed thoughtfully, the new entity could become a template for how Bitcoin-centric businesses scale within public markets while maintaining alignment with the asset’s core network and community dynamics. The coming quarters will reveal whether the expected synergies translate into sustained shareholder value as Bitcoin’s market cycles continue to shape corporate strategy in this evolving sector.

This article was originally published as Nakamoto Eyes $107M All-Stock Buy: BTC Inc, UTXO on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

SOU NFTs as Proof of Claims

The SOU system offers affected users an on-chain, non-fungible token (NFT) that tracks the value owed to them. Each SOU represents an individual claim, recorded securely on the Ethereum blockchain. Users can see their principal amount, which decreases as payouts and donations are processed. The transparency of this system ensures that the value cannot be manipulated, providing a fair method for managing claims.

SOU is live

Introducing SOU (Shib Owes You) an onchain NFT built as a good-faith effort to support impacted users with payouts, donations, and occasional rewards.

Transparent. Tradable. On-chain.
You can transfer it, split it, merge it, or trade it on marketplaces.

Claim your… pic.twitter.com/ONyO8OitJQ

— Shib (@Shibtoken) February 16, 2026

This initiative aims to restore trust and compensate those who experienced setbacks during Shibarium’s challenges. Shiba Inu’s developer, Kaal Dhairya, emphasized the importance of this effort, stating that it would help make things right for impacted users. The project’s transparent tracking feature ensures that users have clear visibility of their claims.

Security and Audits Behind the SOU Mechanism

The Shiba Inu team worked with Hexens, an independent auditing firm, to thoroughly review the SOU system. Hexens focused on ensuring the security of the NFT contracts and their integration within the broader Shiba Inu ecosystem. The audit included assessing key components, such as asset recovery, repayment flows, NFT mechanics, and access controls.

According to Hexens, the security review confirmed that the system is safe for managing funds and transactions. This review further guarantees that the SOU system adheres to high security standards, reducing the risk of any breaches. With a clear focus on safety and reliability, the Shiba Inu team has ensured that the SOU NFT mechanism is designed to protect user funds and claims.

Community Support and Positive Reactions

The Shiba Inu community has responded positively to the launch of the SOU system. Shytoshi Kusama, the Shiba Inu lead ambassador, praised the team for their effort and commitment to addressing the issue. Kusama highlighted the significance of getting this system up and running as a critical step in supporting impacted users.

The announcement has sparked discussions among community members who appreciate the transparency and efficiency of the solution. Many users expressed their confidence in the SOU mechanism as a solid foundation for restoring Shibarium’s reputation. By taking this proactive approach, Shiba Inu aims to solidify its reputation and ensure its community feels supported and valued.

Shiba Inu’s Position in the Market

Amid the SOU announcement, the broader crypto market saw some fluctuations. Shiba Inu (SHIB) experienced a minor dip of 2.36% in the past 24 hours, with its price sitting at $0.000006431. Despite the market downturn, SHIB managed to record a weekly increase of 7%, indicating some resilience.

Shiba Inu’s commitment to improving Shibarium’s infrastructure and restoring trust has been crucial in navigating the current market challenges. As the crypto community continues to react, SHIB’s price remains closely tied to the ongoing recovery efforts within the ecosystem. This marks a critical moment for Shiba Inu as it works to rebuild momentum and prove its dedication to long-term growth.

This article was originally published as Shiba Inu Launches ‘Shib Owes You’ NFT to Compensate Shibarium Users on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Ripple CEO Brad Garlinghouse has expressed confidence that the CLARITY Act, a landmark piece of legislation for the crypto industry, is likely to pass by the end of April.

Ripple CEO Brad Garlinghouse remains optimistic about the Clarity Act, giving it an 80% chance of being signed by the end of April.

While XRP has its legal clarity, the rest of the industry is still waiting. Progress over perfection is the goal. pic.twitter.com/7DqQezE3U2

— 𝗕𝗮𝗻𝗸XRP (@BankXRP) February 16, 2026

According to Garlinghouse, there is now an 80% chance of the bill being approved, especially after continued negotiations between banks and crypto firms. The CEO has urged the industry to embrace compromise, suggesting that waiting for a perfect bill could stall progress.

In recent weeks, discussions surrounding the CLARITY Act have seen significant developments, especially following a long-standing deadlock in the Senate Banking Committee. This delay occurred just before the bill was initially expected to pass. Ripple’s Chief Legal Officer, Stuart Alderoty, also remains optimistic, noting that talks between banks and crypto firms have made significant strides.

The potential passage of the CLARITY Act would offer much-needed regulatory clarity for the crypto space, which has long struggled with uncertain legislation. This clarity, according to Garlinghouse, would be a step toward stabilizing the market, benefiting both crypto firms and investors. However, despite its positive potential, the bill still faces challenges that could delay its passage further.

Crypto Bill Stalemate and Progress in Negotiations

The road to the CLARITY Act’s passage has not been smooth. Earlier this year, Coinbase, one of the largest cryptocurrency exchanges in the United States, pulled its support for the legislation. The company cited its inability to reach a compromise on the issue of stablecoin yield. This setback delayed momentum in the Senate Banking Committee, creating further uncertainty for the bill’s future.

While there is some frustration over the stalled negotiations, there is still hope that a breakthrough is imminent. The White House has set a February deadline for crypto and banking leaders to agree on stablecoin yield provisions within the bill. This deadline aligns with Garlinghouse’s predictions, as he has consistently emphasized that compromise rather than perfection is necessary to move the legislation forward.

As talks continue this week, stakeholders in the crypto sector remain hopeful that the final version of the bill will be sufficiently beneficial to all parties involved. The current focus is on balancing regulatory clarity with the needs of both traditional banks and the emerging crypto economy. A resolution could bring much-needed stability and restore confidence in the market, especially as the crypto industry struggles through a bearish phase.

White House Involvement and Potential Market Impact

The involvement of the White House in the negotiation process highlights the importance of the CLARITY Act to the future of the crypto industry. A key upcoming meeting later this week could serve as a turning point in the discussions. With the backing of influential parties, such as the White House and major financial institutions, the chances of the bill’s successful passage by April appear to be increasing.

Market speculation suggests that the CLARITY Act’s passage could lead to significant liquidity returning to the crypto space. If the bill succeeds, many analysts believe it could reinvigorate the market, which has been experiencing a downturn for some time. Increased stability from clearer regulations may prompt a resurgence of interest in crypto assets, driving investment and innovation within the sector.

Despite the uncertainty, many in the industry are holding out hope that the passage of the CLARITY Act will bring much-needed regulatory certainty. This could pave the way for future growth and opportunities in the crypto market. With discussions heating up and potential progress on the horizon, the crypto community will be watching closely as April approaches.

This article was originally published as Ripple CEO Expects CLARITY Act to Pass by April, Boosting Crypto Clarity on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

StarkWare’s Starknet is expanding its privacy capabilities by integrating EY’s Nightfall protocol, enabling institutions to run private payments and DeFi activity on public Ethereum-aligned rails, with confidentiality preserved alongside auditability. In a Tuesday release, StarkWare positioned the move as a bridge for enterprises to use a shared, open layer-2 instead of siloed, bank-only networks, while partnering with a Big Four firm that already audits many prospective onboarding clients. Nightfall—EY’s open-source zero-knowledge privacy layer—lets transactions be verified without exposing underlying data, unlocking private B2B and cross-border payments, confidential treasury management, and on-chain transfers of tokenized assets around the clock. The rollout appears staged, focusing on privacy-forward onboarding with selective disclosure for regulators and auditors.

Key takeaways

StarkWare is integrating EY Nightfall into Starknet to support private transactions on an Ethereum-compatible chain, enabling private payments and DeFi activity at scale.

The plan emphasizes an open, layer-2 solution rather than siloed, bank-only networks, with a Big Four auditor involved in onboarding.

Nightfall’s zero-knowledge privacy layer lets verifications occur without revealing private data, while still allowing selective disclosure for compliance and audits.

The rollout will be staged, starting with compliant private payments and transfers and expanding to additional features as the system scales.

Starknet has grown to be a major ZK rollup by TVL, but has faced outages in 2025 that prompted post-mortems and reliability enhancements ahead of broader institutional flows.

Tickers mentioned: $ETH, $ZEC

Market context: The initiative signals a growing emphasis on privacy-preserving rails and interoperable, on-chain workflows for institutions within the expanding Layer-2 ecosystem, as DeFi and cross-border token transfers push for compliance-ready, scalable solutions.

Why it matters

The blending of Nightfall with Starknet is more than a technical upgrade; it represents a strategic attempt to unlock institutional participation in public blockchains without forcing a trade-off between privacy and auditability. By anchoring the privacy layer to a public, open network, StarkWare aims to encourage banks and corporates to explore private payments, treasury management, and cross-border settlement on-chain, while maintaining visibility for regulatory and internal controls. The approach could lower the barriers for traditional financial players who have historically shied away from fully transparent on-chain activity, offering a path to leverage distributed ledger technology within established compliance frameworks.

Eli Ben-Sasson, StarkWare’s co-founder and CEO and a founding scientist of privacy-focused cryptocurrency Zcash (ZEC), described the Nightfall-on-Starknet initiative as paving the way for “the equivalent of a private superhighway for stablecoins and tokenized deposits.” The framing underscores a broader privacy push across Starknet, where institutions could gain confidential access to Ethereum DeFi activities—such as lending, swaps, and yield strategies—without sacrificing auditable records. Alex Gruell, StarkWare’s global head of business development, emphasized that Nightfall’s readiness for KYC-verified onboarding could be a critical differentiator for large organizations entering the blockchain space, aligning privacy with regulatory compliance at scale.[Zcash (CRYPTO: ZEC) is referenced here to reflect Ben-Sasson’s broader background and the privacy ethos behind the technology.]

Gruell also argued that Nightfall, when paired with Starknet, functions as an interoperability layer that could bridge otherwise siloed institutional environments. He contrasted this architecture with permissioned, stand-alone networks such as Canton Network, which he argued are not yet integrated with the Web3 ecosystem. The planned rollout remains permissionless and fully integrated into Starknet, with a staged deployment that starts with private payments and transfers guarded by compliance gates and secure sequencing. Verifier upgrades and expanded functionality will follow as the system scales, aiming to preserve privacy by default while enabling selective disclosure for audits and regulatory checks.

Starknet’s growth and teething trouble

Starknet has established itself as one of the larger ZK rollups by total value locked (TVL), with current estimates hovering around $280 million, driven largely by DeFi protocols and native ecosystem apps. This rapid ascent has not come without challenges. In 2025, Starknet experienced outages tied to sequencer and infrastructure weaknesses, prompting public post-mortems and commitments to harden reliability before courting broader institutional flow. The ongoing efforts to improve resilience are central to appealing to banks and corporates that require robust operational continuity alongside privacy guarantees.

As Starknet matures, proponents argue that a privacy-first path—especially when supported by a reputable auditor—could unlock new capital channels on public rails. The integration with Nightfall is positioned as a concrete step toward that vision, offering institutions a controlled yet verifiable on-chain environment. Yet observers will be watching how the privacy layer handles cross-border compliance challenges, including KYC/AML workflows and data-access requirements, as real-world usage scales beyond pilots and proof-of-concept tests.

What to watch next

Timeline and milestones for the staged rollout, including the initial private-payments phase and planned expansions of on-chain features.

Auditing milestones and regulatory reviews tied to the Nightfall integration, especially around KYC verification workflows.

Verifier upgrades and any announced improvements to sequencing, privacy guarantees, and throughput as adoption grows.

Real-world usage metrics from early institutional deployments and any interoperability benchmarks with other networks.

Sources & verification

StarkWare’s announcement detailing the Nightfall integration with Starknet for private payments and DeFi on public rails.

EY’s Nightfall privacy protocol, describing zero-knowledge privacy for on-chain transactions.

Cointelegraph coverage of the Nightfall integration and related commentary from StarkWare and EY.

DefiLlama data showing Starknet’s TVL around $280 million and its DeFi usage drivers.

Starknet outage post-mortems and reliability commitments published in 2025.

What the story means for users and builders

The integration positions privacy-preserving on-chain activity as a standard feature for institutional users within public blockchain networks. For builders, it creates an opportunity to design DeFi products and treasury solutions that satisfy typical enterprise compliance requirements without sacrificing the openness and composability that characterize open ecosystems. For users and investors, the development signals ongoing maturation of Layer-2 privacy capabilities and a potential shift in how incumbent financial institutions interact with blockchain technologies—moving from isolated pilots to scalable, auditable, and privacy-respecting deployments on public rails.

Key figures and next steps

With Nightfall in tow, Starknet’s roadmap includes extended privacy controls, selective disclosure options for audits, and broader cross-border transaction support. The collaboration’s success will hinge on robust reliability improvements, effective onboarding workflows, and the ability to demonstrate real-world compliance without eroding the user experience. If these elements come together, institutions could begin treating public blockchains as viable platforms for confidential settlement and asset management, painting a more nuanced picture of privacy, scalability, and openness in decentralized finance.

Why it matters for the broader market

Privacy-preserving instrumentation on public blockchains aligns with a broader industry trend toward compliant, enterprise-grade blockchain ecosystems. As institutions weigh the benefits of public networks against privacy and regulatory requirements, solutions like Nightfall could help reconcile these tensions by offering auditable privacy with flexible disclosure. The broader market will be watching how this approach affects competition among Layer-2 providers, the pace of DeFi institutionalization, and the evolution of cross-chain interoperability as the ecosystem grows more interconnected.

This article was originally published as StarkNet Adds EY Nightfall to Enable Private Payments on Eth Rails on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Editor’s note: In a sector defined by rapid changes in energy costs and compute demand, HIVE Digital Technologies reports a standout quarter that highlights the resilience of its dual-engine model — steady Bitcoin hashrate expansion alongside high-growth BUZZ AI HPC. The Q3 results, led by record revenue of $93.1 million and a gross margin of $32.1 million, reflect disciplined scaling across renewable-powered infrastructure and an accelerating AI compute strategy. The company’s Paraguay expansion and GPU cloud initiatives illustrate how HIVE is positioning for longer-term margin expansion, recurring revenue and geographic diversification.

Key points

Record quarterly revenue of $93.1 million, up 219% YoY and 7% QoQ, with gross margin of $32.1 million (34.5%).

Bitcoin hashrate capacity reached 25 EH/s, with BUZZ HPC growth accelerating.

AI GPU expansion: 504 Nvidia GPUs under a $30 million contract, live deployments in Q1 2026, lifting HPC revenue and targeting $140 million ARR by Q4 2026 with 11,000 GPUs.

Paraguay expansion and renewable-powered infrastructure underpin margin growth and geographic diversification.

Why this matters

This quarter demonstrates HIVE’s ability to scale a renewable-powered data center platform while expanding into AI compute markets. The dual-engine approach provides resilience against sector volatility, leveraging Bitcoin hashrate expansion as a cash generator and BUZZ HPC as a high-growth, recurring revenue stream. With Paraguay infrastructure, green energy and new AI deployments, HIVE is positioned for margin expansion and geographic diversification into Latin America.

What to watch next

Deployments of 504 Nvidia GPUs live in Q1 2026 and expected ARR uplift to $140 million by Q4 2026 as GPU AI Cloud evolves.

Paraguay expansion: energization of the additional 100 MW at Yguazú targeted for Q3 2026 and 63 hectares of land acquisition supporting growth.

Anticipated overall energy footprint of 540 MW by year-end, with evaluation of incremental megawatts for future EH/s growth.

Disclosure: The content below is a press release provided by the company/PR representative. It is published for informational purposes.

HIVE Delivers Record Q3 Revenue of $93.1 Million with $32.1 Million Gross Operating Margin, Up Over 6x Year-Over-Year

This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated November 25, 2025 to its short form base shelf prospectus dated October 31, 2025.

San Antonio, TX, February 17, 2026 — HIVE Digital Technologies Ltd. (TSX.V: HIVE) (Nasdaq: HIVE) (FSE: YO0) (BVC: HIVECO) (referred to as the “Company” or “HIVE”), a global leader in sustainable data center infrastructure, announced its results for the third quarter ended December 31, 2025 (all amounts in US dollars, unless otherwise indicated).

HIVE delivered record quarterly revenue of $93.1 million, representing 219% year-over-year growth and 7% quarter over quarter growth, and Adjusted EBITDA of $5.7 million. Gross operating margin expanded significantly to $32.1 million (34.5%), up more than sixfold compared to $5.3 million in the prior year period.

This quarter marks the strongest “dual-engine” growth in HIVE’s history, driven by the rapid scale-out of its Bitcoin hashrate fleet to an installed base of 25 Exahash per Second (EH/s) by period end December 31, 2025 and accelerating demand for BUZZ HPC platforms.

Q3 FY2026 Financial Highlights:

• Total Revenue: $93.1 million, a 219% increase from $29.2 million in Q3 FY2025 and a 7% increase over last quarter. Gross operating margin was $32.1 million or 34.5%, up from 18% in fiscal Q3 FY2025. See the calculation of direct costs and mining margin included below in this press release.

• Digital Currency Hashrate Revenue: $88.2 million, up 8% from Q2 FY2026, reflecting a 41% quarter-over-quarter increase in average hashrate to 22.9 EH/s, partially offset by approximately 10% lower Bitcoin prices and 15% higher network difficulty. This hashrate revenue was achieved at a direct cost of $57.8 million, of which approximately 90% is energy costs. See the calculation of direct costs included below in this press release.

• Bitcoin Output: Generated 885 Bitcoin, representing a 23% quarter over quarter increase, despite a 15% rise in network difficulty.

• HPC Revenue: BUZZ HPC revenue was $4.9 million during the quarter. This revenue was achieved against direct costs of $2.3 million.

• G&A: $8.4 million, up from $7.8 million in Q2 2026, primarily as a result of increased staff to support HIVE’s global expansion, including Paraguay, and the BUZZ HPC business. Notably, while gross operating margin increased more than 6x year-over-year, corporate G&A grew only 1.8x over the same period, demonstrating operating leverage and disciplined scaling.

• Net Loss: GAAP net loss of $91.3 million was primarily driven by $57.4 million in accelerated depreciation related to the Paraguay expansion and non-cash revaluation adjustments. The loss reflects HIVE’s decision to depreciate the next-generation ASIC fleet over a two-year cycle, rather than the typical four-year schedule, to reflect the faster pace of efficiency improvements and shorter economic lives of new ASICs—a conservative approach aligned with our strong growth in Paraguay and focus on operating income.

• Adjusted EBITDA: $5.7 million.

OPERATING PERFORMANCE: SCALE WITH DISCIPLINE

Infrastructure Expansion

• Completed Paraguay Buildout and Achieved 25 EH/s: Operating 440 megawatts (MW) of global, hydro-powered capacity with 25 EH/s installed and 22.9 EH/s average operational hashrate, while reaching 17.5 Joules per Terahash (J/TH) fleet efficiency; record completion of 300 MW of green-energy Tier-I infrastructure brought online in 6 months (from May 2025 to November 2025).

• Land & Power: The company signed an additional 100 MW PPA in Yguazú and bought 10 hectares of land, with energization targeted for Q4 2026. This maintains our growth in Paraguay by an additional 10 EH/s. Subsequent to the quarter end, the Company has purchased an additional 63 hectares of land.

Positioning for AI and HPC Growth

Future Capacity & Growth Outlook

• Accelerating AI Revenue: In February 2026, the Company signed a 2-year, $30 million contract for 504 Nvidia B200 GPUs. Expected deployments to be live in calendar Q1 2026 at Bell’s Tier-III facility; adds ~1$15 million of ARR and lifts HPC annualized revenue ~75% (from $20 million to $35 million). Targeting $140 million ARR by Q4 2026 for GPU AI Cloud with 11,000 GPUs, subject to market conditions and successful infrastructure deployment.

• BUZZ’s Growth Plan: Targeting $225 million ARR for total HPC revenue for BUZZ HPC and GPU AI Cloud by end of calendar 2026 or early 2027 as GPU cloud and colocation capacity expands.

• Strengthened Runway for Scalable Compute: By year-end, HIVE expects to operate a 540 MW energy footprint (440 MW currently operating, plus the additional 100 MW PPA contracted). Existing and incremental megawatts will be evaluated to preserve flexibility for highest-value deployments – toward expanding EH/s or supporting future AI and high-performance computing workloads.

Management Insights

Frank Holmes, HIVE’s Executive Chairman, stated, “This quarter marked an inflection point for HIVE. We delivered record revenue, scaled our renewable-powered Tier-I hashrate platform to 25 EH/s and accelerated our AI strategy. These milestones reflect disciplined execution across both engines of our business – Bitcoin hashrate services as the cash generator and BUZZ as our high-growth HPC platform, positioning HIVE for diversified, recurring revenue growth. Demand for AI compute continues to rise, and HIVE is leveraging its long track record in high-performance compute infrastructure and deep technical expertise in AI cloud services and data center operations to capture that opportunity. Notably, we are also positioning Paraguay to be a leader in HPC for Latin America. With abundant and stable green energy, and a government that is strongly-aligned with the United States, we believe Tier-III data centers are the future in Paraguay. Our future deployments in Paraguay will have the architecture and infrastructure footprint for Tier III future deployments as we build out our powered land. Our team has ordered the substation for the additional 100 MW at Yguazú, which we expect to come online in calendar Q3 2026. Moreover, the Company has a strategic alignment with Paraguay’s largest Tier III telecom datacenter operator, where we are sending a cluster of high-performance GPUs which will operate on the BUZZ AI Cloud out of Asuncion. Thus, by laying the foundation for long-term and rapid scale HPC Tier III Data Center deployment with our next 100 MW in Yguazú, and curating HIVE’s first Latin America GPU AI cloud proof-of-concept this quarter from Asuncion, our vision is to be a first mover in Latin America, powering the AI industrial revolution with renewable energy from Paraguay. HIVE will be a key economic driver for Paraguay, as we anticipate materially contributing to the GDP growth of the country through our data center construction expenditures and stable and long-term consumption of power from the Itaipu Dam, which will strengthen Paraguay’s domestic energy market and drive revenue for ANDE and the government. President Santiago Pena has demonstrated great leadership, along with Marcos Riquelme and Ruben Ramirez Lezcano, which gives us the confidence to advance our investments into Paraguay.”

Mr, Holmes continued, “Our wholly owned subsidiary, BUZZ AI has begun to demonstrate the scale of its earnings power. With this growth, our early-stage Paraguay platform becomes even more strategic, as we partner with a leading Tier III telecom data center operator in the country and deploy our first cluster of high-performance GPUs into that facility, demonstrating that our GPU chips have arrived and that Paraguay can be a cornerstone market for BUZZ in Latin America. Tier I data centers are a critical first step in building the power and infrastructure backbone required for future Tier III AI and HPC data centers, and we see them as the key runway for grid buildout and long-term capacity planning across our global platform. This is the strategy we are executing in Canada and Sweden today, and now in Paraguay as we develop large-scale, renewable powered Tier I capacity that can be systematically upgraded into Tier III AI and HPC data centers over time.”

Aydin Kilic, President & CEO, stated, “This quarter demonstrated HIVE’s execution in both our Tier-I hashrate platform and GPU AI Cloud. Our business has scaled substantially over the last year. Notably, our gross operating margin has increased over 6x YoY, from $5.3 million period end December 31, 2024 to $32.1 million this current period end December 31, 2025. At HIVE, we pursue accretive growth with a high-performance work culture, and this exponential growth in gross operating margin relative to corporate G&A reflects our expertise to scale with our Tier-I hashrate platform. Furthermore, this growth in corporate G&A includes added key personnel and talent to our BUZZ HPC and GPU AI Cloud business. In this fiscal quarter, we announced the purchase of 504 next-generation AI-optimized GPUs, and last week, ahead of their installation in March 2026 in the BUZZ Canada West facility, we announced the entire cluster was leased on a two-year fixed term contract valued at $30 million. As we expand BUZZ, we are leveraging our proven infrastructure operating model and deep technical expertise in AI to deliver GPU cloud and colocation capacity quickly and reliably for enterprise customers. With Tier-III+ capacity across Canada, Sweden and a growing pipeline of multi-year GPU cloud and colocation demand, we believe HIVE is positioned to build a durable, high-margin, recurring revenue platform through 2026 and beyond. This dual-engine strategy provides continued growth and sustained cashflow as we navigate the recent volatility in Bitcoin hashrate revenues.”

Darcy Daubaras, HIVE’s CFO, stated, “This quarter demonstrates strong revenue growth and operating margin expansion despite a more competitive hashrate environment. Accelerated depreciation impacted net income, but reflects conservative accounting and disciplined balance sheet management. We believe our cost structure and renewable power strategy position us to generate attractive operating margins as competition increases.”

Strategic Positioning

HIVE’s “dual-engine” strategy — Bitcoin infrastructure as cash generator and BUZZ AI Cloud as high-growth recurring revenue — provides diversification and capital allocation flexibility.

The Company remains focused on:

• Expanding gross operating margin

• Scaling recurring AI revenue

• Maintaining disciplined G&A growth

• Preserving balance sheet strength

With renewable-powered infrastructure across Canada, Sweden, and Paraguay, HIVE believes it is positioned to build a durable, margin-driven digital infrastructure platform through 2026 and beyond.

Conference Call Information

HIVE will hold its fiscal Q3 2026 earnings call on Tuesday, February 17 at 8:00 AM EST. To participate in this event, please log on or dial in approximately 5 minutes before the call.

Date: February 17, 2026

Time: 8:00 AM EST

Webcast: Registration link here

Dial-in: Provided after registration

Financial Statements and MD&A

The Company’s Consolidated Financial Statements and Management’s Discussion and Analysis (MD&A) thereon for the three months ended December 31, 2025 will be accessible on SEDAR+ at www.sedarplus.ca under HIVE’s profile and on the Company’s website at www.HIVEdigitaltechnologies.com.

¹ The Company has presented certain non-GAAP measures in this report. The Company uses EBITDA and Adjusted EBITDA as a metric that is useful to management, the board and investors for assessing its operating performance on a cash basis before the impact of non-cash items and acquisition related activities. EBITDA is net income or loss from operations, as reported in profit and loss, before finance income and expense, tax and depreciation and amortization. Adjusted EBITDA is EBITDA adjusted for by removing other non-cash items, including share-based compensation, finance expense, depreciation and one-time transactions. The following table provides an illustration of the calculation of EBITDA and Adjusted EBITDA for the last five quarters:

² Net realized and unrealized gains (losses) on digital currencies is calculated as the change in fair value (gain or loss) on the coin inventory, and the gain (loss) on the sale of digital currencies which is the net difference between the proceeds and the carrying value of the digital currency.

³ The following represents the Revenue and related costs that comprise the gross mining margin. We include connectivity, security, data center maintenance, and electrical equipment maintenance. Electrical costs may vary quarter over quarter.

*Average revenue per BTC is for hashrate services operations only and excludes HPC operations.

⁴ References to annualized revenue and run-rate revenue are considered future-oriented financial information. Readers should be cautioned that this information is used by the Company only for the purpose of evaluating the merit of this line of its business operations and may not be appropriate for other purposes.

Quarterly ATM Sales Report

For the three-month period ended December 31, 2025, the Company issued 4,925,948 common shares (the “November 2025 ATM Shares”) pursuant to the at-the-market offering commenced in November 2025 (the “November 2025 ATM Equity Program”) for gross proceeds of C$22.0 million ($15.8 million). The November 2025 ATM Shares were sold at prevailing market prices, for an average price per November 2025 ATM Share of C$4.47. Pursuant to the November 2025 ATM Equity program, a cash commission of $153 thousand on the aggregate gross proceeds raised was paid to the sales agents in connection with its services under the November 2025 ATM Equity Program.

About HIVE Digital Technologies Ltd.

Founded in 2017, HIVE Digital Technologies Ltd. is the first publicly listed company to mine digital assets powered by green energy. Today, HIVE builds and operates next-generation Tier-I and Tier-III data centers across Canada, Sweden, and Paraguay, serving both Bitcoin and high-performance computing clients. HIVE’s twin-turbo engine infrastructure-driven by hashrate services and GPU-accelerated AI computing-delivers scalable, environmentally responsible solutions for the digital economy.

For more information, visit hivedigitaltech.com, or connect with us on:

X: https://x.com/HIVEDigitalTech

YouTube: https://www.youtube.com/@HIVEDigitalTech

Instagram: https://www.instagram.com/hivedigitaltechnologies/

LinkedIn: https://linkedin.com/company/hiveblockchain

On Behalf of HIVE Digital Technologies Ltd.

“Frank Holmes”

Executive Chairman

For further information, please contact:

Nathan Fast, Director of Marketing and Branding

Frank Holmes, Executive Chairman

Aydin Kilic, President & CEO

Tel: (604) 664-1078

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Information

Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes but is not limited to: the acquisition of the new sites in Paraguay and Toronto and their potential, the timing of it becoming operational; business goals and objectives of the Company, including its target hashrate milestones and the costs to achieve the milestones; the results of operations for the three and nine months ended December 31, 2025; the expected costs of maintaining and growing its operations; financial information related to annualized run rate; the acquisition, deployment and optimization of the hashrate fleet and equipment; the continued viability of its existing Bitcoin hashrate services operations; the receipt of government consents; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.

Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: the inability to complete the construction of the Paraguay acquisition on an economic and timely basis and achieve the desired operational performance; the ongoing support and cooperation of local authorities and the Government of Paraguay; the volatility of the digital currency market; the Company’s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company’s operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our hashrate facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company’s ATM Program and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency hashrate assets; the impact of energy curtailment or regulatory changes in the energy regimes in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of Tier-I hashrate services in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate Tier-I hashrate assets; the risks of an increase in the Company’s electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in which the Company operates and the adverse impact on the Company’s profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of pandemics on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so.

The forward-looking information in this news release reflects the Company’s current expectations, assumptions, and/or beliefs based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about its objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance, and accordingly, undue reliance should not be put on such information due to its inherent uncertainty. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by law.

This article was originally published as HIVE Delivers Record Q3 Revenue and Margin Growth on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Editor’s note: In a move that consolidates Bitcoin-native operations across media, asset management, and advisory services, Nakamoto signs definitive agreements to acquire BTC Inc and UTXO Management. The announcement outlines strategic intent, expected closing in early 2026, and how these integrations may reshape Nakamoto’s growth trajectory. The editorial team will monitor how the combined platform expands industry coverage, investor access, and Bitcoin-focused capabilities as the company builds its global brand.

Key points

Nakamoto signs definitive agreements to acquire BTC Inc and UTXO Management, expanding Bitcoin-native services across media and asset management; closing is targeted for Q1 2026.

Transaction is expected to close in the first quarter of 2026, subject to customary closing conditions.

The deal is financed entirely with Nakamoto common stock at $1.12 per share; 363,589,816 shares will be issued, valued at $107,295,354 before adjustments.

BTC Inc is a global leader in Bitcoin media and events; UTXO provides investment advisory services to Bitcoin-focused opportunities.

The combined platform aims to strengthen Nakamoto’s balance sheet and accelerate growth initiatives in Bitcoin ecosystems.

Why this matters

Nakamoto’s acquisition broadens its footprint as a diversified Bitcoin operating company with global reach in media, asset management, and advisory services. By integrating BTC Inc’s media assets and UTXO’s investment platform, the company seeks recurring earnings, expanded cross-selling, and stronger market position.

What to watch next

Closing of the transaction in Q1 2026 and milestones for integration of BTC Inc and UTXO into Nakamoto’s platform.

Progress on synergies, cross-selling opportunities, and potential additional Bitcoin treasury activities and acquisitions.

Disclosure: The content below is a press release provided by the company/PR representative. It is published for informational purposes.

Nakamoto Signs Definitive Agreements to Acquire BTC Inc and UTXO Management

Nakamoto Inc. (NASDAQ: NAKA) today announced that it has entered into merger agreements to acquire BTC Inc, the leading provider of Bitcoin-related media and events, and UTXO Management GP, LLC (the “UTXO”), an investment firm focused on private and public Bitcoin companies (collectively, the “Transaction”). The Transaction is expected to close in the first quarter of 2026, subject to customary closing conditions.

The Company’s option to acquire BTC Inc and UTXO, through BTC Inc’s call option with UTXO, was previously disclosed as part of Nakamoto’s proposed merger with Nakamoto Holdings, Inc. (the “Nakamoto Holdings”). The Marketing Services Agreement with BTC Inc (the “MSA”), which the Company assumed from Nakamoto Holdings in the merger last year, outlines the terms of the Company’s option and was publicly filed and approved by the Company’s shareholders in connection with that transaction. Following shareholder approval, Nakamoto, BTC Inc, and UTXO engaged in extensive joint marketing initiatives across BTC Inc’s media and events platforms. Nakamoto exercised its call option with BTC Inc and BTC Inc exercised its call option with UTXO concurrently with signing of the merger agreements. No additional Nakamoto shareholder approval is required to complete the Transaction.

“Bringing BTC Inc and UTXO into Nakamoto has been a part of our vision since day one,” said David Bailey, Chairman and CEO of Nakamoto. “We intend to operate a portfolio of companies across media, asset management, and advisory services that can scale with Bitcoin’s long-term growth. BTC Inc and UTXO are global leaders in Bitcoin media and asset management. This transaction signifies the first step of the company we intend to build, and we’re just getting started.”

UTXO: Investing in Bitcoin Acceleration

UTXO is the adviser to 210k Capital, LP, a hedge fund focused on Bitcoin, Bitcoin-related securities, and derivatives. The investment team leverages extensive experience in the Bitcoin ecosystem to allocate capital across public and private market opportunities.

“UTXO was founded to back the builders and companies shaping the Bitcoin economy,” said Tyler Evans, Chief Investment Officer of Nakamoto and Chief Investment Officer of UTXO. “Leveraging Nakamoto’s public platform and robust treasury, we see a powerful opportunity to compound value across the Bitcoin ecosystem and reinforce Bitcoin’s role as a foundational asset in modern capital markets.”

More information about the transaction can be found on the Nakamoto Investor Relations site: http://investors.nakamoto.com

Additional Transaction Details

A Special Committee of independent directors of Nakamoto’s Board of Directors (the “Special Committee”) was formed to review, evaluate, and negotiate the Transaction. The Special Committee retained B. Riley Securities, Inc. as the independent financial advisor and fairness opinion provider to the Special Committee and Simpson Thacher & Bartlett LLP as independent legal counsel.

Nakamoto was advised by TD Securities (USA) LLC as its financial advisor and Reed Smith LLP as legal counsel in connection with the Transaction. BTC Inc was advised by Bradley Arant Boult Cummings LLP and UTXO was advised by Haynes and Boone, LLP, in each case acting as legal counsel to the respective parties.

About Nakamoto Inc.

Nakamoto Inc. (NASDAQ: NAKA) is a Bitcoin company that owns and operates a global portfolio of Bitcoin-native enterprises spanning media and information, asset management, and advisory services. For more information, please visit nakamoto.com.

Forward Looking Statements All statements, other than statements of historical fact, included in this press release that address activities, events or developments that Nakamoto expects, believes or anticipates will or may occur in the future are forward-looking statements, as defined under U.S. federal securities laws, related to Nakamoto. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts, including, without limitation, statements about expectations regarding anticipated synergies, cross-selling opportunities, operational plans, market expansion, the long-term strategic impact or anticipated effects of the Transaction, financial projections of BTC Inc and/or UTXO, the timing of closing of the Transaction, Bitcoin-related strategies, Bitcoin treasury management activities, and Nakamoto’s anticipated holding of Bitcoin as part of its corporate treasury. Such forward-looking statements are inherently uncertain and involve numerous assumptions and risks. Forward-looking terms used may include, but are not limited to, “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “potential,” “create,” “intend,” “could,” “would,” “may,” “plan,” “will,” “look,” “goal,” “future,” “build,” “focus,” “continue,” “strive,” “allow,” “seek,” “see,” “aim,” “target,” or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements and similar expressions. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements include, but are not limited to, the following: descriptions of Nakamoto and its operations, subsidiaries, strategies and plans, expectations regarding anticipated synergies, cross-selling opportunities, operational plans, market expansion, the long-term strategic impact or anticipated effects of the Transaction, financial projections of BTC Inc and/or UTXO, the timing of closing of the Transaction, Bitcoin-related strategies, and Bitcoin treasury management activities. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. Factors that could cause actual results to differ include, but are not limited to, the following: the acquisition of BTC Inc or UTXO may not provide the benefits we anticipate receiving due to any number of factors, including the inability of BTC Inc or UTXO to maintain current level of earnings or to continue to grow its sales to new and existing customers; our inability to successfully cross-sell business between our existing customers and BTC Inc’s or UTXO’s existing products or services, or expand products or services to new customers; the effect of the announcement or pendency of the Transaction on our business relationships, performance, and business generally; the acquisition of BTC Inc or UTXO may not be closed in a timely manner or at all, which may adversely affect the price of our securities; and we may encounter difficulties with integration or unanticipated costs related to the Transaction; Bitcoin market volatility, ; and other important factors that could cause actual results to differ materially from those projected. All such factors are difficult to predict and are beyond Nakamoto’s control, including those detailed in Nakamoto’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and such other documents of Nakamoto that are filed, or will filed, with the SEC that are or will be available on Nakamoto’s website at www.nakamoto.com and on the website of the SEC at www.sec.gov. All forward-looking statements are based on assumptions that Nakamoto believes to be reasonable but that may not prove to be accurate. Any forward-looking statement speaks only as of the date on which such statement is made, and Nakamoto does not undertake any obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Nothing contained herein constitutes an offer to buy or sell securities of Nakamoto or any other party, nor does it constitute a solicitation of any proxy or vote. Past performance is not indicative of future results.

Media Contact

Carissa Felger / Sam Cohen

Gasthalter & Co.

(212) 257-4170

Nakamoto@gasthalter.com

Investor Relations Contact

Steven Lubka

VP of Investor Relations

(615) 701-8889

Investors@nakamoto.com

This article was originally published as Nakamoto Secures Acquisition of BTC Inc and UTXO on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

YouTube personality Logan Paul surged back into the headlines in a high-stakes moment for the NFT collectibles world, as the PSA-graded Pikachu Illustrator card sold at auction for 16.492 million dollars, setting a new record for any card sold at public sale. The sale, conducted by Goldin Co, crowned AJ Scaramucci—the son of financier Anthony Scaramucci—as the winning bidder, triumphing over a field that included several seven- and eight-figure offers. Paul had originally acquired the card in July 2021 for about 5.3 million dollars, and the latest auction netted him a substantial gain after fees. The record was celebrated by some, but it also reopened debate about the risks and nuances of tokenizing ownership in rare collectibles.

Key takeaways

Record-breaking sale: The PSA 10 Pikachu Illustrator card fetched 16,492,000 dollars at auction, the highest price ever paid for a card in a public sale.

Provenance and rarity: The card is one of 39 created in a 1990s contest, underscoring the scarcity that drives top-tier NFT-like investments in physical collectibles.

Original purchase and profit: Logan Paul disclosed that he bought the card for about 5.3 million dollars in July 2021, positioning the auction as a multi-year hold with a roughly 8 million dollar post-fee gain.

Controversy and tokenization concerns: The sale revived scrutiny of Paul’s 2022 fractionalization of the card via Liquid Marketplace, a project that later went offline, triggering regulatory and investor concerns.

Regulatory and legal echoes: The Ontario Securities Commission pursued a case related to Liquid Marketplace, highlighting ongoing tensions around fractionalized digital assets and investor protections.

Sentiment: Neutral

Market context: The spectacle sits against a broader backdrop of fluctuating demand for non-fungible tokens and tokenized collectibles, where marquee auctions can coexist with a cooling market for digital assets and a wave of platform consolidations or shutdowns that underscore risk management considerations for investors.

Why it matters

The Pikachu Illustrator sale stands as a landmark event in the intersection of traditional collectibles and crypto-adjacent dynamics. It demonstrates that even as the underlying asset is a physical card, the attention, liquidity, and bidding competition surrounding it often mirror the volatile narratives that pervade the NFT space. For collectors, the record price signals a willingness to prize rarity and history, even as other segments of the market struggle with price declines and platform friction.

Yet the deal also spotlights the fragility of fractional ownership models that sought to democratize access to high-value collectibles. The 2022 Liquid Marketplace project, which fractionalized ownership of the Pikachu Illustrator, faced a shutdown that left investors with uncertain returns and prompted a high-profile regulatory response from Canada’s Ontario Securities Commission. While Logan Paul was not named in the OSC’s action, the case has become a touchstone in debates over how “slop tokenization” and ambiguous rights structures can affect risk, liquidity, and investor confidence in asset-backed digital securities.

Moreover, the broader NFT market context—characterized by a sharp contraction in market capitalization and recent closures of notable platforms—frames this record as both a triumph of hype and a reminder of the sector’s ongoing maturation. After a surge in early 2026, the NFT market cap has retraced significantly, with high-profile platforms exiting the space and investors recalibrating expectations around utility, royalties, and long-term value creation. The tension between the prestige of a rare physical collectible and the complexities of its digital-era ownership constructs remains central to how future auctions and tokenization experiments will be evaluated.

What to watch next

Upcoming regulatory or legal clarifications surrounding fractionalized collectibles and their rights in secondary markets.

Any statements or disclosures from Liquid Marketplace or related platforms about lessons learned, user redress, or restoration of services that impact investor confidence.

Continuing developments in the NFT and broader collectibles markets, including platform consolidations or new entrants that aim to address custody and liquidity.

Follow-up reporting on long-term outcomes for investors who participated in the earlier fractionalization and how those experiences influence future tokenization experiments.

Sources & verification

Auction details and sale price reported by the event organizer and press coverage of AJ Scaramucci’s win.

Logan Paul’s public remarks on the original purchase price and the subsequent auction, including public posts and commentary.

Regulatory actions and investor concerns tied to Liquid Marketplace and related class-action or securities inquiries in Canada.

Context on the NFT market’s recent trajectory, including platform closures and market-cap data from industry trackers.

Record-breaking sale and the evolving risk landscape for tokenized collectibles

The headline-grabbing auction of the PSA-10 Pikachu Illustrator card marks a historic apex for a card that exists at the edge of traditional collecting and modern digital commerce. The card’s rarity is unmistakable: among the 39 instances produced in the 1990s, the PSA 10 grade represents a pinnacle of condition for a specimen so scarce. AJ Scaramucci’s victory, reportedly outpacing multiple seven- and eight-figure bids, underscores the enduring appeal of blue-chip collectibles, even as the public eye remains fixed on the equity and crypto markets that often orbit these assets.

Paul’s own timeline adds another layer of interest. He acquired the card in mid-2021 for approximately 5.3 million dollars, and the latest sale delivered an inflow of roughly 16.5 million dollars before fees—a clear example of substantial, multi-year appreciation that can accompany celebrity-backed collectibles. Yet the triumph sits alongside a cautionary tale about the mechanisms used to broaden ownership. The 2022 fractionalization on Liquid Marketplace distributed a sliver of the card’s ownership to dozens of participants, a model that, in practice, has complicated investor returns once the platform went offline and liquidity evaporated for those holders.

Those complexities have sparked a debate about the practical value of tokenizing rare assets. Gabriel Shapiro, general counsel for Delphi Labs, described Paul’s fractionalization as a “classic case of ‘slop tokenization’,” arguing that the token did not convey meaningful property rights and urging investors to review terms of service carefully. Paul countered that Liquid Marketplace’s offline status was outside his control and that he acted to restore the platform so users could withdraw funds, pointing to a partial recovery of only 5.4% of the card’s fractionalized ownership, corresponding to roughly 270,000 dollars in claims.

. @LoganPaul‘s rare @Pokemon card becomes most expensive ever sold in record-setting auction.

The PSA-10 Pikachu Illustrator went on sale via @GoldinCo and eventually sold for $16,492,000.https://t.co/B1YBUIqhbx

— Guinness World Records (@GWR) February 16, 2026

On the regulatory front, the Ontario Securities Commission filed a case in June 2024 addressing concerns around Liquid Marketplace and similar fractionalized offerings. While Paul was not named in that action, the proceedings have become a focal point for discussions about investor protections, disclosure standards, and the responsibilities of platforms that tokenize ownership interests in high-value assets. The broader backdrop is equally instructive: the NFT market has cooled after a strong start to 2026, with several prominent marketplaces winding down operations in recent weeks, and total market capitalization for NFTs having declined substantially from earlier highs. These dynamics contextualize why a new all-time high for a traditional collectible can still coexist with a tougher environment for digital-native assets.

Beyond the headlines, the Pikachu Illustrator sale raises questions about long-term value creation in the digitized era. On one hand, the public’s willingness to bid aggressively for a single, storied card signals persistent demand for scarcity and provenance. On the other hand, the liquidity and governance structures surrounding fractional ownership demand rigorous scrutiny as the sector evolves. For collectors, investors, and builders alike, the case underscores the importance of clear terms, verifiable rights, and robust custody arrangements as the line between physical collectibles and digitalized ownership becomes increasingly blurred.

This article was originally published as Logan Paul Sells $16.5M Pokémon Card, Years After Fractional NFT Row on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.