Analyst: XRP Near Turning Point as Regulatory Fog Keeps Institutions on Sidelines
Headline: Analyst Says XRP Could Be Near a Turning Point as Regulatory Uncertainty and Institutional Requirements Collide A finance commentator believes XRP may be approaching a notable moment as regulatory developments and market dynamics continue to evolve. While outcomes remain uncertain, his view explains why investors are keeping a close eye on the token despite broader crypto volatility. Regulatory delays are holding capital back Coach JV points to the long-running Ripple vs. SEC case and slow movement on proposed laws such as the Clarity Act and the GENIUS Act as key reasons large allocators remain cautious. When legal frameworks are unclear, big funds tend to sit on the sidelines. Clearer rules, by contrast, often unlock institutional flows — but clarity alone doesn’t guarantee investment. Decision factors for institutions extend beyond regulation. Liquidity, custody solutions, legal protections and expected returns all shape where large investors place money. The Clarity Act, reportedly intended to define treatment of digital assets beyond stablecoins, could be especially relevant for tokens with institutional payment or settlement use cases. Noise, misinformation and market psychology Coach JV also warned about short-term noise: social media posts, viral clips and AI-generated headlines can spur rapid price moves that don’t reflect fundamentals. His practical advice: maintain a plan, set objective buy rules and remove emotion from trading decisions. Other analysts add that surprise regulatory shifts — for example, a crackdown on certain stablecoins or new banking rules — could quickly reshape market flows. Such moves would change the competitive landscape for payments and custody solutions, but they wouldn’t automatically translate into a windfall for XRP. A disciplined accumulation approach Coach JV says he’s practicing disciplined accumulation, buying selected assets like Bitcoin and XRP on weakness. That strategy is geared to long-term investors who can tolerate volatility; accumulation can be a defensive response when headlines create sentiment whipsaws. What it will take for a lasting shift Market watchers note that legal clarity alone won’t separate XRP from broader crypto trends. Real, sustained demand requires: - Institutional pilots and settlement tests by banks or payment firms - Robust custody offerings that meet institutional standards - Scalable on-ramps and infrastructure for real-world use If institutions begin running tests and then roll out services, token activity could change materially. For now, many large allocators remain on hold until rules and infrastructure mature. Bottom line XRP’s future movement hinges on a mix of regulatory outcomes, practical infrastructure and genuine institutional adoption. The path isn’t guaranteed, but the combination of legal developments, market psychology and potential institutional use cases is why investors continue to watch the token closely. Featured image: Unsplash. Chart: TradingView. Read more AI-generated news on: undefined/news
The XRP Ledger has activated Token Escrow (XLS-85) on mainnet, a major expansion of the ledger’s native settlement tools that now apply to tokens as well as XRP. The amendment went live on Feb. 12, 2026 after receiving 88% support (30 of 34 validators) and ships in rippled v2.5.0 under the XLS-85 spec. What changed - Escrow functionality that was previously limited to XRP can now be used for Trustline-based tokens (IOUs) and Multi-Purpose Tokens (MPTs). RippleX framed the upgrade as broadening XRPL’s settlement primitives “from one native asset to the wider token stack,” enabling on‑chain, conditional settlements for assets ranging from stablecoins (e.g., RLUSD) to real-world assets. - XRPL.org stresses the shift from off‑chain or third‑party escrow arrangements to an automated on‑ledger system — the same escrow model now applies to fungible tokens. How token escrows work - The escrow lifecycle uses the same core operations: EscrowCreate to lock funds, EscrowFinish to release them when conditions are met, and EscrowCancel to return funds if an escrow expires. For token escrows, an expiration time is mandatory. - XRPL supports time-based, condition-based (crypto-conditions), and hybrid escrows. Issuer and token requirements - Trustline tokens: the issuing account must enable the Allow Trust Line Locking flag so its token can be escrowed. - MPTs: issuers must set Can Escrow and Can Transfer flags at issuance to allow escrowing and releasing. - Issuers cannot create escrows using their own issued tokens, though they can be recipients of escrowed tokens. - Authorization gating: if a token requires authorization, the sender must be pre-authorized by the issuer to create an escrow, and must also be authorized to receive tokens back if an expired escrow is canceled (regardless of who submits the cancellation). Separately, recipients must be pre-authorized before an escrow can be finished. Fees and crypto-conditions - Token escrow is not free: creating and finishing an escrow involves multiple transactions and crypto-conditions increase costs. - The XRPL supports PREIMAGE-SHA-256 crypto-conditions today; fulfillment verification (EscrowFinish with a fulfillment) raises fees. XRPL.org gives a concrete baseline: an EscrowFinish with a fulfillment requires at least 330 drops of XRP (0.00033 XRP) plus an additional amount proportional to the fulfillment size, and the total scales with network fee settings. Use cases and significance - RippleX highlights institutional and DeFi use cases such as vesting and grants, conditional payments and OTC-style swaps, treasury workflows (legal holds, collateral), and tokenized rights or RWA unlocks. - By adding a native “lock until X” mechanism to the token layer, XRPL enables predictable, on‑ledger settlement and compliance-shaped flows without relying on off‑chain coordination or third‑party custodians — a meaningful upgrade for tokenization and institutional workflows. Market note - At press time, XRP traded at $1.35. Read more AI-generated news on: undefined/news
Thailand Greenlights Crypto as Underlying for Regulated Futures and Options
Thailand has taken a concrete step toward mainstreaming crypto by allowing digital assets to underpin regulated derivatives contracts — a move that could deepen market liquidity and expand hedging options for investors. What happened - On Feb. 10, the Thai Cabinet approved a Finance Ministry proposal to amend the Derivatives Act B.E. 2546 (2003). The change explicitly permits digital assets — including cryptocurrencies such as Bitcoin — to be used as underlying instruments for futures and options traded on regulated venues. - The Securities and Exchange Commission (SEC) will now revise the Derivatives Act and draft the supporting regulations that will set rules for participation, licensing and supervision. How it will work - Under the new framework, exchanges such as the Thailand Futures Exchange (TFEX) can list derivatives whose underlying instruments are digital assets. - The SEC plans to update derivatives business licenses so operators handling digital assets can offer crypto-linked contracts, and will reassess supervisory standards for exchanges and clearinghouses. - Regulators and TFEX will coordinate on contract specifications to reflect the higher volatility and unique risk profile of digital assets, while keeping investor protections and supervisory safeguards central. Why it matters - The change formally recognizes cryptocurrencies as an investable asset class within Thailand’s regulated derivatives market, potentially broadening access for retail and institutional traders and adding risk-management tools for market participants. - Industry participants expect improved liquidity and new hedging capabilities, though many warn capital requirements, disclosure standards and other safeguards will need to scale up to control systemic risk. Additional policy moves - The amendment also reclassifies carbon credits, paving the way for physically delivered futures contracts in addition to cash-settled products — a measure that aligns with Thailand’s draft Climate Change Act and longer-term carbon-neutrality goals. - This reform builds on the framework introduced in 2018 that established rules for digital asset businesses; oversight has since tightened, with stricter operational and investor-protection rules. The Bank of Thailand still prohibits crypto payments. Bigger roadmap and market snapshot - Thailand’s SEC includes crypto exchange-traded funds (ETFs) in its broader 2026 capital markets roadmap; those products would require further legal amendments, but officials have signaled crypto ETFs could launch later this year. - As of August 2025 the SEC estimated Thailand’s crypto market at roughly $3.19 billion, with average daily trading volumes near $95 million and about 230,000 active accounts — a mix of retail investors, foreign entities and domestic institutions. Official line - SEC Secretary-General Pornanong Budsaratragoon said the expansion aims to strengthen cryptocurrencies’ recognition as an investment class, broaden investor access and enhance risk-management tools — while keeping supervisory safeguards and investor protection measures at the forefront. Bottom line Thailand’s move places it among an increasing number of Asian markets adapting regulatory frameworks to accommodate crypto-linked financial products. The practical impact — from contract design to licensing, capital rules and ETF launches — will depend on the SEC’s forthcoming regulations and how market participants respond to the new, regulated derivatives landscape. Image credits: cover image from ChatGPT; BTCUSD chart from TradingView. Read more AI-generated news on: undefined/news
Surging RLUSD Goes Multi‑Chain with Binance XRPL Listing, Challenges Tether & Circle
Ripple’s RLUSD goes multi-chain via Binance, challenging Tether and Circle The stablecoin sector — far from immune to recent crypto-market turbulence — has seen roughly $8 billion shaved off its collective market cap as liquidity tightens and risk appetite falls. Yet the industry’s biggest issuers are treating the pullback as a temporary reset and are doubling down on strategies to capture the next wave of demand. Tether doubles down on Treasuries - Bo Hines, CEO of Tether’s U.S. arm, said the firm intends to push Tether into the top 10 U.S. Treasury holders. That’s notable because about 83.11% of Tether’s reserves are held in Treasury bills, a major source of yield for the issuer. - Moving further into short-term Treasuries signals Tether is positioning for stronger institutional demand and a continued emphasis on yield-bearing, high-quality collateral. Circle expands USDC’s footprint on Solana - Circle has been minting USDC on Solana, a move analysts view as part of a strategy to turn Solana into a high-throughput settlement layer — potentially “Visa-scale” — for stablecoin payments and on-chain activity. - The 2025 cycle, when stablecoin supply surged roughly 50%, helped lay the groundwork for mainstream use cases, and Circle’s Solana push fits that trend. RLUSD surges, hits XRPL via Binance - Ripple’s RLUSD has been the standout newer entrant. After a 2,300% rally in 2025, RLUSD’s market cap hit a record $1.5 billion in the first two months of 2026. - Token Terminal reports RLUSD supply on Ethereum has climbed to about $1.2 billion — roughly a 10x year-over-year increase — underlining multi-chain adoption. - Price moves reflect the momentum: while USDT dipped about 1.5%, RLUSD rallied roughly 14% in the same window. - Binance has now completed integration of RLUSD on the XRP Ledger (XRPL), improving accessibility and trading options and marking another step in Ripple’s multi-chain playbook. Why it matters - Tether’s treasury strategy, Circle’s Solana expansion, and Ripple’s multi-chain rollouts all point toward issuers preparing for growth in on-chain payments, settlements, and institutional usage. - With liquidity under pressure, these moves show stablecoin firms reallocating resources and infrastructure to capture market share as demand returns. Bottom line The temporary contraction in stablecoin market cap hasn’t dampened strategic expansion. Issuers are leaning into reserves, high-throughput networks, and cross-chain availability — and RLUSD’s rapid ascent and new XRPL listing puts Ripple squarely in the race to challenge established players like Tether and Circle. Disclaimer: This article is for informational purposes only and not investment advice. Cryptocurrency trading carries high risk; do your own research before making decisions. Source: AMBCrypto, Tether, Token Terminal. Read more AI-generated news on: undefined/news
Consensus Hong Kong: Cardano adopts LayerZero, Midnight privacy mainnet, World Swap FX unveiled
HONG KONG — CoinDesk’s Consensus Hong Kong drew a crowd, with over 11,000 attendees visiting booths and stages as the conference wrapped on Thursday. After a day one geared toward institutional projects and professional investors, day two shifted focus squarely to developers — with panels and demos from the Bitcoin, Ethereum and Solana communities centered on the twin challenges of scaling networks and building the tools needed to support bigger user bases. Notable product and protocol updates came from across the ecosystem. World Liberty Financial — the crypto venture tied to U.S. President Donald Trump and his family — unveiled plans for a foreign-exchange product called World Swap. Co-founder Zak Folkman said the platform will target cross-border transfers, settle in the USD1 stablecoin and aim to undercut traditional remittance providers, which can charge up to ~10% per transaction. Input Output Global CEO Charles Hoskinson used the stage to outline two major moves: the institution-focused LayerZero blockchain will be ported to Cardano, and the privacy-first Midnight mainnet is slated to go live next month. Hoskinson clarified Midnight’s positioning, saying it won’t be marketed to hardcore privacy users who typically choose Zcash or Monero. Binance co-CEO Richard Teng defended the exchange against claims it played an outsized role in the October 10 liquidation event that triggered roughly $19 billion in market liquidations. Teng attributed the sell-off to broader macro shocks that produced widespread market stress, rather than isolated activity by any single firm. The conference also highlighted emerging startups and developer talent: zkME took top honors at Consensus PitchFest, while FoundrAI won the Easy A x Consensus Hackathon. CoinDesk noted both events will return at its flagship North American Consensus in Miami, set for May 5–7. Overall, day two underscored a common theme: as demand grows, blockchains and builders are racing to scale infrastructure and tooling while carving out distinct product niches — from faster remittances to privacy and cross-chain interoperability. Read more AI-generated news on: undefined/news
IOG's Midnight privacy chain to go live in late March — ZK selective disclosure showcased
IOG’s privacy-focused Midnight blockchain to go live in late March, Hoskinson says Charles Hoskinson, founder of Input Output Global (IOG) and one of the architects behind Cardano, told attendees at Consensus Hong Kong that Midnight — IOG’s long-awaited privacy-oriented blockchain — will officially launch in the final week of March. Speaking in his keynote, Hoskinson framed Midnight as a pragmatic approach to on-chain privacy that also respects regulatory needs. “We have some great collaborations to help us run it,” he said, naming Google and Telegram and promising “more that will come.” What Midnight is and how it works - Midnight is a partner chain to Cardano designed to offer privacy and compliance for decentralized applications. - The network relies on zero-knowledge (ZK) proofs to enable selective disclosure: users can keep transaction and data private by default while selectively revealing specific information to authorized parties when required. IOG describes this model as “rational privacy.” - Access is tiered through multiple disclosure views — labeled public, auditor, and god — each providing different levels of visibility to balance confidentiality with transparency and regulatory auditability. Midnight City Simulation: a live stress test Alongside the mainnet timeline, IOG launched Midnight City Simulation — an interactive demo that showcases how Midnight handles scalable privacy through selective disclosure. The simulation went live at 10:00 a.m. Hong Kong time on Thursday, though public access is restricted until Feb. 26, per IOG’s press release. The simulation runs on the Midnight network itself and populates the chain with AI-driven agents that interact unpredictably to generate a steady transaction load. IOG says the test proves the network can continuously generate and process ZK proofs at scale — an essential milestone for real-world adoption. Why it matters Midnight aims to give dApp developers and users a way to keep sensitive data private while still meeting the needs of auditors and regulators. If successful, the project could provide a model for other blockchains seeking to reconcile privacy with compliance — a major pain point as regulators scrutinize the crypto industry. What’s next IOG has set the final week of March for Midnight’s mainnet launch and will continue to roll out partnerships and testing. The community will have its first public look at the simulation after Feb. 26. Read more AI-generated news on: undefined/news
Goldman Sachs Quietly Builds $2.36B Crypto War Chest — $1.1B in BTC, $1B in ETH
Goldman Sachs has quietly moved from skeptic to sizable crypto holder, according to new regulatory filings. The storied investment bank now holds roughly $2.36 billion in major digital assets — a shift that signals a more deliberate, long-term approach to cryptocurrencies. What Goldman owns (from the filings) - Bitcoin (BTC): about $1.1 billion - Ethereum (ETH): roughly $1.0 billion - XRP: $153 million - Solana (SOL): $108 million A clear pivot Goldman’s latest positions mark a sharp turn from its pre-2020 posture, when its research teams routinely labeled Bitcoin and other digital assets as risky and lacking intrinsic value. The bank largely excluded crypto from serious, long-term portfolios. That stance began softening as institutional interest surged around 2020: Goldman reopened its crypto trading desk and acknowledged Bitcoin’s potential role as an inflation hedge. What started as tentative engagement has evolved into a balanced portfolio of major tokens. Timing and political backdrop Goldman’s accumulation comes while U.S. lawmakers and regulators continue to debate how to police digital assets. Bank executives, including those at Goldman, are actively involved in those conversations in Washington — and one flashpoint is whether crypto platforms should be allowed to pay interest on stablecoins, mimicking bank savings products. Traditional banks warn that such programs could siphon deposits out of the banking system, creating risks for financial stability. Market turbulence as Goldman builds Goldman’s moves occur amid a rocky stretch for the crypto market that has erased billions of dollars in recent market value. At press time, BTC was trading near $66,900 after a 2.81% 24-hour decline, while ETH sat around $1,946, down 3.03%. Smaller holdings in Goldman’s book are under heavier pressure: XRP fell about 3.84% to $1.36 and Solana dropped 4.53%. Different strategies at rival banks Not every Wall Street giant is taking the same route. JPMorgan Chase, for example, has emphasized building digital finance infrastructure — from payment tokens to blockchain services — rather than accumulating spot crypto exposure. Put simply: Goldman is increasingly buying and holding major tokens; JPMorgan is focused on the plumbing of a tokenized financial system. What it means Goldman’s multi-hundred-million-dollar bets underscore how deeply crypto has penetrated institutional thinking. Whether this marks the start of a broader allocation trend or a strategic diversification tactic tied to regulatory outcomes remains to be seen — but it’s a clear signal that one of Wall Street’s most influential banks now treats crypto as an investable asset class, not just a speculative experiment. Disclaimer: This article is informational and not investment advice. Trading cryptocurrencies is high-risk; do your own research before making financial decisions. Read more AI-generated news on: undefined/news
Mandiant: North Korea-linked Hackers Use AI Deepfake Calls to Rob Crypto, DeFi Firms
Google’s Mandiant: North Korean hackers are using AI deepfakes to target crypto firms and DeFi players Google Cloud’s threat team Mandiant is warning that a North Korea–linked hacking group is now using AI-generated deepfake video inside fake video calls to social-engineer cryptocurrency professionals and steal funds. What happened - Mandiant says it investigated a recent breach at a fintech firm attributed with high confidence to UNC1069 (aka “CryptoCore”), a DPRK-linked actor. - The intrusion chain was highly social: attackers used a compromised Telegram account to pose as a known industry contact, sent a Calendly link for a 30-minute meeting, and hosted a spoofed Zoom call on their own infrastructure. - During the call the victim saw what appeared to be a deepfake video of a well-known crypto CEO. The attackers then claimed audio issues and instructed the victim to run “troubleshooting” commands — a ClickFix technique that executed malicious code. - Forensic analysis uncovered seven distinct malware families on the victim’s machine, apparently deployed to harvest credentials, browser data and session tokens for financial theft and future impersonation. Why this matters to crypto and DeFi - Mandiant says UNC1069 is targeting both companies and individuals across the crypto ecosystem — software teams, developers, venture firms and executives. - The campaign illustrates a broader shift: state-linked thieves are moving away from mass phishing and instead carrying out fewer, highly tailored operations that exploit routine trust in calendar invites, messages and video meetings. The result: bigger heists from more surgical attacks. - The trend coincides with a jump in DPRK-linked crypto thefts: Chainalysis reported $2.02 billion stolen in 2025 (a 51% increase year-over-year), bringing total attributable thefts to about $6.75 billion. Expert perspective Fraser Edwards, CEO of decentralized identity firm cheqd, told Mandiant that these attacks succeed because everything appears normal — a familiar sender, a routine meeting, no suspicious attachments. Deepfakes are typically introduced at escalation points (live calls) to short-circuit doubts and push the victim to act. He also warned that AI is used beyond live calls to craft messages, mirror tones and generally make impersonation harder to detect. As AI agents become part of everyday workflows, attackers could automate deepfake deployment, scaling these impersonation attacks. What defenders should do - Mandiant has published detailed TTPs and IOCs for detection and hunting; crypto firms should review them and harden controls. - Practical steps include verifying meeting invites through secondary channels, avoiding running troubleshooting commands requested on calls, enforcing strong endpoint protections and MFA, and improving systems that signal authenticity (rather than relying on user instinct). Takeaway This campaign marks a dangerous escalation: North Korean threat actors are combining AI-driven impersonation with traditional malware and social engineering to hit the crypto sector. Organizations that rely on remote coordination and rapid decision-making should assume these techniques are being used and prioritize verification, detection, and endpoint defenses. For the full technical details and indicators of compromise, see Mandiant’s report and observability guidance. Read more AI-generated news on: undefined/news
Prediction Markets Quadrupled to $63.5B in 2025 — CertiK Warns of Wash Trading, Security Flaws
Prediction markets exploded in 2025—quadrupling annual trading volume to roughly $63.5 billion from $15.8 billion a year earlier—but that rapid growth is exposing structural strains that could make the sector fragile as it scales, according to a new report from blockchain security firm CertiK. What’s driving the surge - Much of the activity has concentrated around three dominant venues—Kalshi, Polymarket, and Opinion—while growth has been fueled more by incentives and event-driven spikes than steady organic demand. CertiK warns that when subsidies and promo-driven flows fade, liquidity and user retention may be tested. - Academic research cited by CertiK also found sharp increases in wash trading on Polymarket in 2024, with circular trades at one point accounting for nearly 60% of reported volume. That kind of activity inflates headline metrics even if it doesn’t immediately break market forecasts. When fake volume matters CertiK draws a key distinction between inflated activity and genuinely broken markets: fake volume only becomes a systemic problem when it changes how prices are formed. The firm lists signs that manipulation is bleeding into price formation: - Persistent price divergence for the same event across platforms that arbitrage does not correct - Probability shifts without corresponding news or data, driven by concentrated wallet clusters - Systematic bias in market pricing versus actual outcomes “If prediction markets remain consistently off by 5–10 points in one direction and that pattern correlates with identifiable whale or wash trading activity, that would be evidence that fake volume is bleeding into price formation,” CertiK told Decrypt. That said, the firm adds it has not seen wash trading materially distort prices at scale on the major platforms; probabilities have remained “broadly reliable” even during periods of elevated artificial activity. It cautions, however, that data are limited and that lower-liquidity markets could be far more vulnerable. Security architecture lagging growth Beyond market integrity, CertiK says the sector’s security posture is not keeping pace with its expansion. Many prediction platforms use hybrid Web2/Web3 architectures to balance onboarding ease with on-chain transparency—but combining those models “creates exposure to both attack surfaces simultaneously,” the report notes. CertiK points to a concrete incident in December 2025 that illustrates the risk: attackers exploited a vulnerability in the authentication flow of Magic Labs, a third-party email-login provider used by Polymarket. The flaw let attackers bypass two-factor authentication and seize control of accounts created via Magic’s email login, demonstrating that even secure smart contracts can be undermined by weaknesses in off-chain components. “Addressing this requires treating the full stack as a single security surface,” CertiK said, urging audits and testing of authentication, key management, and settlement together rather than separately. Regulation, concentration, and the road ahead Looking to 2026, CertiK says the industry is at a crossroads. Improved infrastructure and clearer federal guidance in the U.S. are positives, but unresolved questions around sustainability, state-level restrictions, and platform-regulator friction remain. The security firm expects the dominance of Kalshi, Polymarket, and Opinion to persist, but growth will depend on whether these platforms can retain users without incentives, navigate patchwork state rules, and harden their tech stacks. Bottom line: headline volumes tell a story of massive growth, but deeper metrics and stronger security and regulatory frameworks will determine whether prediction markets mature into a robust forecasting ecosystem—or risk structural fragility if artificial activity and architectural gaps begin to affect price formation. Decrypt has reached out to Polymarket for comment and will update this article if they respond. Read more AI-generated news on: undefined/news
No Federal 'Buy Button': Trump's Bitcoin Reserve Is Only a Concept, Not a Market Backstop
Rumors that the U.S. government is poised to swoop into markets and buy bitcoin at a set price — sparked in part by CNBC’s Jim Cramer — don’t match reality. There is no federal “buy button” and, crucially, no mechanism in the U.S. government today to conduct wholesale purchases of crypto with taxpayer funds. What exists is an executive directive from President Trump ordering a “strategic reserve” to hold bitcoin and other seized crypto assets. That order did not create an immediate stash of coins, nor did it authorize the Treasury to buy bitcoin on the open market. Instead, the administration instructed agencies to stop selling seized crypto so those assets could be held aside for a future reserve — but actually turning that idea into a legal, funded program requires Congress. Lawmakers and officials have spent months auditing federal crypto holdings, and White House crypto adviser Patrick Witt has declined to disclose an official total. Independent on‑chain analysis from Arkham Intelligence estimates U.S.-associated wallets may hold roughly $23 billion in crypto, but that’s not the same as a ready-to-deploy government war chest. Congressional legislation so far has not created a purchase mechanism. The stablecoin law adopted recently and the broader crypto market-structure bill moving through the Senate both omit a government reserve. Clearing new, potentially controversial crypto policy through this Congress is difficult; industry lobbyists are focused on establishing market and oversight rules and on tax guidance, leaving a dedicated bitcoin reserve lower on the priority list. The rumor gained traction after Jim Cramer said on air he’d “heard at 60 he’s going to fill the bitcoin reserve,” a comment that traders noticed as bitcoin recently traded between about $62,840 and just under $70,000. But Treasury officials in recent congressional hearings made clear they have no authority to order banks to buy crypto or to “bail out” the market, underscoring the lack of any automatic federal backstop tied to a price point. Some ideas for non-taxpayer-funded acquisition mechanisms have been floated by Trump advisers and lawmakers such as Senator Cynthia Lummis, but no plan has been selected and related legislation has not advanced—Lummis is also set to retire after this year. In the meantime, state governments have been more agile: several have moved to create their own bitcoin reserve authorities, and those subnational efforts may be the more actionable path for official crypto holdings for now. In short: intriguing headlines and on-air speculation do not equal a federal purchasing program. The president’s reserve remains a concept in need of congressional authorization, legal clarity and a funding mechanism before any White House “buy” could become reality. Read more AI-generated news on: undefined/news
Bitcoin Isn't Losing to Gold: 10/10 Exposed a Liquidity Squeeze Gold Never Faced
Asia Morning Briefing — Bitcoin isn’t losing to gold. It’s weathering a type of liquidity squeeze the yellow metal never had to face. The debate over whether bitcoin is “losing” to gold often gets framed as a simple price fight. Darius Sit, co-founder and managing partner at Singapore-based QCP Capital — one of Asia’s biggest trading desks with over $60 billion in annual volume — says that’s the wrong lens. Price moves matter, but liquidity and market structure matter more. “If you’re comparing Bitcoin to gold, it’s not a like-for-like comparison… you’re talking about almost like a mouse versus an elephant kind of comparison,” Sit told CoinDesk. Gold’s scale, sovereign demand and entrenched market plumbing give it a dominance bitcoin can’t match overnight. Gold’s market cap is so large that its daily swings can eclipse bitcoin’s entire valuation, turning short-term divergence into a mechanics problem rather than a narrative verdict. But the longer-term story, Sit argues, looks similar: both can act as hedges and stores of value. The bigger inflection point for crypto wasn’t bullion’s rally — it was the Oct. 10 deleveraging event, now shorthand as “10/10.” What 10/10 exposed - 10/10 drew a hard line between bitcoin and the wider crypto market by revealing stark differences in liquidity and credit handling. When leveraged positions were forced closed, books were cleared and the market’s true depth became visible. - Traditional markets have layered broker and clearinghouse structures that absorb shocks before losses hit end users. Many native crypto venues do not. They often operate as single points of failure, relying on shareholder equity, insurance funds and, in extreme cases, socialized loss. - Socialized loss — when an exchange’s insurance fund is exhausted and profitable traders’ positions are forcibly closed to cover others’ shortfalls — destroys trust. That mechanism played out on several major exchanges during Oct. 10 and left many participants believing the rules were applied inconsistently across products and counterparties. The fallout: a divided landscape - Trust in how liquidations and counterparty risk are handled has proved stickier than a temporary price drop. While leverage and volumes can recover, confidence in liquidation governance is slower to return. - Bitcoin has kept credibility because it benefits from deeper liquidity and a clearer path to being used as collateral. The wider altcoin complex, by contrast, now often trades at a structural discount driven less by macro factors and more by exchange design, order-book depth and counterparty confidence. - “When something has poor liquidity, it can go down a lot. It can go up a lot,” Sit said — underscoring why venue structure now heavily influences short-term price behavior across crypto. Market snapshot - BTC: After a liquidation-driven plunge toward $60,000, bitcoin swung violently and then climbed about 5% in the last hour. The RSI plunged to near 17 — historically an oversold reading that can precede sharp relief bounces — with price hovering in the $58,000–$60,000 support zone. - ETH: Ether traded around $1,895, rebounding roughly 7% in the past hour after a similar liquidation-fueled selloff. Volatility surged as deeply oversold momentum produced a short-term bounce despite double-digit 24-hour losses. - Gold: Gold slipped about 3.7% to roughly $4,740 per ounce amid a broad risk-asset pullback and profit-taking. Analysts still point to persistent central-bank buying, debt and currency-confidence worries, and forecasts that see potential upside toward $7,000 in 2026 despite short-term fluctuations. - Equities: The Nikkei 225 fell about 1%, extending a three-day losing streak as a tech rout from Wall Street spilled into Asia. South Korea’s Kospi dropped as much as 5%, with pressure on Hong Kong and Australian markets and a broader risk-off tone hitting silver and other volatile assets. Bottom line: bitcoin’s recent underperformance versus gold looks less like a collapse of its thesis and more like the result of structural liquidity dynamics and the lingering credibility questions that 10/10 exposed. For traders and institutions, the lesson is clear: in crypto, venue design and liquidation governance matter as much as macro narratives. Read more AI-generated news on: undefined/news
Lummis Warns Banks: Embrace Stablecoins or Lose to the "Speed of Code" — Maxi Doge Shows Why
Sen. Cynthia Lummis (R‑WY) is sharpening the debate over crypto and traditional finance: banks can’t wait for Congress to finish drafting the rulebook, she warns — they need to move now or risk being left behind. What Lummis said - With federal legislation such as the CLARITY Act stalled, Lummis argues that banks cannot sit on the sidelines until a “perfect” regulatory framework appears. The CLARITY Act is intended to carve out a clear regulatory lane for stablecoin issuers, but the congressional impasse has left many institutions hesitant to adopt new on‑chain settlement tools. - Her central point: stablecoins and blockchain settlement represent a fundamentally new financial product and a modernization of settlement rails that have gone largely unchanged for decades. If U.S. banks delay, offshore firms and fast‑moving crypto-native players could seize market share “at the speed of code.” Why it matters - The consequence is not only regulatory uncertainty but technological stagnation. While compliance teams deliberate, the on‑chain economy and retail investors are already reallocating capital, chasing yield and volatility outside traditional banking products. - That rotation is visible on-chain: retail traders have been active in meme and high‑risk sectors, treating volatility as opportunity rather than a deterrent. A case study in the current market: Maxi Doge ($MAXI) - Maxi Doge positions itself as a meme token built around “Leverage King Culture” — a satirical, high‑conviction product aimed at traders who embrace aggressive, narrative‑driven strategies. - Project mechanics highlighted by its team: - Presale fundraising with reported demand: the presale page states over $4.5M raised to date. - On‑chain activity: Etherscan data cited by the project shows two wallets accumulating more than $600K recently, including a single purchase of about $314K — notable whale activity during a presale phase. - Token economics and tech: the token is issued on Ethereum Proof‑of‑Stake for DeFi compatibility; the smart contract reportedly enforces a rigid supply to avoid common inflationary issues seen in many meme tokens. - Incentives for holders: gamified “holder‑only” trading competitions, a Maxi Fund treasury intended to support liquidity and longevity, and staking that offers dynamic APY via daily smart‑contract distributions. Market takeaways - Maxi Doge is an example of how narrative and gamification can attract capital in the current cycle; the team argues that a meme‑first approach, backed by treasury and staking mechanics, can foster durability beyond a quick flip. - The presale token price cited by the project is $0.0002802, and the claimed whale participation suggests some investors are positioning for repricing at public market open. A balanced view - Narratives can outperform fundamentals in bull markets, but meme tokens and presales carry elevated risk. On‑chain signals and concentrated whale buys don’t guarantee long‑term success. - The broader regulatory hesitation Lummis described does create opportunity for agile projects and offshore competitors — but it also leaves gaps in investor protection and institutional adoption. Disclaimer This article is informational and not financial advice. Cryptocurrencies, especially meme tokens, are highly volatile and risky. Always do your own research before investing. Read more AI-generated news on: undefined/news
Tether Pulls Back from $500B Valuation Fundraise; Advisers Now Eye $5B
Tether has stepped back from plans to pursue an eye-popping funding round that would have valued the stablecoin issuer at roughly $500 billion, according to a Financial Times report. The plan, first reported in September, reportedly considered up to $20 billion in new equity—an amount that would have placed Tether among the world’s most valuable private companies. CEO Paolo Ardoino pushed back on the headline figure in an FT interview, calling the half‑trillion-dollar valuation “a misconception” and saying it was “not our goal. It’s our maximum we were ready to sell.” He also said Tether has seen “a lot of interest” at that valuation, but the company has not decided how much equity, if any, it will ultimately put on the table. Sources told the FT that Tether’s advisers, including Wall Street desk Cantor Fitzgerald, have been forced to temper expectations after tepid investor appetite—floating a much smaller $5 billion raise as a more realistic outcome. Those conversations reportedly remain ongoing, with investor sentiment tied closely to the broader crypto market’s recovery and lingering regulatory concerns around Tether’s business. The push for a large raise was partly driven by improved regulatory clarity—stablecoin legislation in the U.S. and rival Circle’s successful public debut helped create momentum. Still, some potential backers remain cautious about Tether’s regulatory exposure, even as Ardoino highlighted the company’s compliance capabilities and cooperation with law enforcement agencies. Financially, Tether has faced headwinds: Ardoino said the company’s 2025 profits fell versus the prior year, attributing the decline in part to Bitcoin’s weak finish in the last quarter. S&P Global Ratings also downgraded Tether’s reserves to its weakest tier, citing increased exposure to higher‑risk assets such as Bitcoin and gold. Despite those pressures, Tether’s USDT remains the dominant stablecoin, with a market capitalization north of $185 billion at last check. The company has also been building its gold holdings aggressively—Ardoino said those positions generated roughly $8–10 billion in gains during the recent precious metals rally. For now, any large-scale equity sale looks uncertain: advisers have downscaled expectations, investors are weighing regulatory risks, and the ultimate size of a deal—if there is one—will depend on market conditions and Tether insiders’ willingness to dilute stakes. Read more AI-generated news on: undefined/news
Tether Scales Back $500B Fundraise Hype — Sources Say $5B Raise Likely
Tether has quietly scaled back a headline-grabbing fundraising plan that briefly put a half-trillion-dollar valuation in the headlines, sources told the Financial Times. Background and rollback Earlier reporting that Tether was preparing to raise up to $20 billion—implying a valuation near $500 billion—has been softened by the company. CEO Paolo Ardoino told the FT the $500 billion figure is a “misconception,” describing it as the maximum the company was prepared to sell rather than a firm target. Still, people familiar with the matter said advisers including Cantor Fitzgerald have discussed a much smaller $5 billion raise after hitting resistance from potential investors. How the raise would work Sources say the talks, which first surfaced in September, envisioned issuing new equity (not a secondary sale of existing shares) and were limited to a small group of high-profile investors. Ardoino confirmed Tether has seen “a lot of interest” at that lofty valuation, but that insiders are undecided on how much equity they would actually part with. Why momentum cooled Momentum behind the push was bolstered by greater regulatory clarity—U.S. stablecoin legislation and Circle’s successful public debut were cited as tailwinds—but investor appetite softened amid a weak crypto market and lingering regulatory concerns specific to Tether. FT sources say negotiations remain active and could change if market conditions improve. Regulatory and financial backdrop Ardoino stressed Tether’s compliance capabilities and cooperation with law enforcement as defenses against regulatory risk. Still, S&P Global Ratings downgraded Tether’s reserves to its weakest tier, citing increased exposure to higher-risk assets such as Bitcoin and gold. Tether’s profits fell in 2025 versus the prior year, a slump Ardoino attributed in part to Bitcoin’s recent underperformance. Gold gains and market position Despite challenges, USDT remains the dominant stablecoin with a market cap north of $185 billion. Tether has also expanded its gold holdings; Ardoino said those positions returned roughly $8–10 billion during the recent precious-metal rally. What this means The episode highlights the gap between Tether’s market prominence and investor caution: bullish valuations have supporters, but regulatory uncertainty and recent financial headwinds are tempering demand for a major equity sale. Talks are ongoing, and any decisive move will likely hinge on broader market recovery and how regulators continue to shape the stablecoin landscape. Read more AI-generated news on: undefined/news
Saylor Calls Bitcoin Volatility 'Satoshi's Gift,' Doubles Down on Buy-and-Hold
Headline: Saylor dubs Bitcoin volatility “Satoshi’s gift,” doubles down on buy-and-hold amid market stress MicroStrategy executive chairman Michael Saylor pushed back against recent criticism of Bitcoin’s price swings, calling volatility “Satoshi’s gift” in a series of social‑media posts that reframed sharp drawdowns as a feature — not a flaw — of the asset. “Volatility is Satoshi’s gift to the faithful,” Saylor wrote, arguing that big price moves function as a mechanism that rewards long‑term conviction and shifts ownership away from short‑term traders. He paired that remark with what he labeled “The Rules of Bitcoin”: “Buy Bitcoin. Don’t sell the Bitcoin.” Those blunt instructions echo a stance Saylor has maintained since MicroStrategy began adding large Bitcoin allocations to its corporate treasury in 2020. The comments arrive as Bitcoin has faced downward pressure, with rising volatility and weakening sentiment prompting traders and investors to reassess risk and time horizons. Saylor’s framing — that drawdowns are integral to Bitcoin’s dynamics and a tool that weeds out less committed holders — reflects a familiar narrative that resurfaces whenever markets turn turbulent. Saylor did not issue any near‑term price forecasts. His remarks instead reinforce a long‑term, buy‑and‑hold philosophy that underpins MicroStrategy’s strategy; the firm still holds significant Bitcoin reserves and has continued following its acquisition plan through multiple market cycles. Read more AI-generated news on: undefined/news
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