Yadira Earnshaw uY2T

The securities regulator has continued its Project Crypto work to make unofficial policy changes as it moved to let broker-dealers treat stablecoins as capital.
The addition of a few lines in a frequently-asked-questions page on the U.S. Securities and Exchange Commission website may open up the use of stablecoins in capital calculations for U.S. broker-dealers.
The agency is instructing brokers that they need only give their stablecoins a 2% haircut when calculating how much they can be used as regulatory capital.
Broker-dealers regulated by the U.S. Securities and Exchange Commission (SEC) can treat their stablecoin holdings as regulatory capital, according to a tweak this week to a frequently-asked-questions document maintained by the agency.
That's a seismic shift offered in the form of a minor addition to the SEC's "Broker Dealer Financial Responsibilities" FAQ. It's on-brand for a regulator that has made a steady series of changes to its crypto approach through informal guidance, industry correspondence and staff statements ever since its Crypto Task Force began work during the administration of President Donald Trump.
In this case, a new question No. 5 was added about what kind of "haircut" a firm should take on its holdings of stablecoins — the dollar-tied tokens such as Circle's USDC and Tether's USDT. The answer was 2%, meaning that instead of the previous understanding that such assets were not considered measurable against a broker-dealer's capital tally (100% haircut), the firms will be able to count 98% of those holdings.
While this guidance does not create new rules, it helps reduce uncertainty for firms seeking to operate compliantly under current securities laws," said Cody Carbone, CEO of the Digital Chamber.
This puts stablecoins on the same footing as other financial products.
That means stablecoins are now treated like money market funds on a firm’s balance sheet," Tonya Evans, a former professor who now runs a crypto education business and is on the board of directors at Digital Currency Group, wrote in a post on social media site X. "Until today, some broker-dealers were zeroing out stablecoin holdings in their capital calculations. Holding them was a financial penalty. That’s over."
Before, the more stringent SEC limits meant those companies — firms registered with the SEC to handle customers' securities transactions and also trade in securities on their own behalf — weren't easily able to custody tokenized securities or act as a go-between for trading. Now the firms that follow this steer from the agency will be able to more easily provide liquidity, aid settlement and advance tokenized finance.
Everywhere from Robinhood to Goldman Sachs run on these calculations," Larry Florio, deputy general counsel at Ethena Labs, wrote in an explainer posted on LinkedIn. Stablecoins are now working capital, he said.
SEC Commissioner Hester Peirce runs the agency's task force and issued a statement on the change, contending that using stablecoins "will make it feasible for broker-dealers to engage in a broader range of business activities relating to tokenized securities and other crypto assets." And she said she wants to consider how the existing SEC rules "could be amended to account for payment stablecoins."
That's the drawback of informal staff policies — they're as easy to reverse as they were to issue, and they don't carry the weight (and legal protections) of a rule.
The SEC has been working on some crypto rules in recent months, but they haven't yet been produced, and the process usually takes several months — sometimes years. Even a formal rule can still be reversed by a new leadership at the agency, which is why crypto advocates are pushing for more legislation from Congress that would set the government's digital assets approach into law, such as last year's Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.
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#UnicornChannel

Legislators must choose whether America leads the next generation of finance or watches from the sidelines.
In Washington, the safest vote is often no vote at all, and the most convenient timeline is "next session." But when it comes to the future of banking, financial markets and financial services, inaction is unacceptable. The United States needs crypto regulatory clarity to compete and succeed in the digitally networked financial system of the 21st Century.
The Senate is today at a crossroads on market structure legislation—policy designed to bring order to digital asset innovation, an increasingly important component of global finance. Failing to codify the "rules of the road" doesn't just stall crypto; it invites regulatory chaos that harms banks and consumers alike, saps economic dynamism and forces innovation to drift offshore. Congress must choose whether America leads the next generation of finance or watches from the sidelines.Legislators must choose whether America leads the next generation of finance or watches from the sidelines.
The current stalemate centers on a perceived conflict between banks and crypto platforms regarding interest yield and rewards on stablecoins—an issue already addressed by the GENIUS Act, signed into law by President Trump last year. The law permits crypto companies to offer rewards and incentives to customers for holding and using stablecoins made available by separate providers. Banks counter that such reward structures closely resemble traditional bank savings and checking products and, if left unchecked, could shift customer balances away from insured deposits without the same prudential requirements.
Framed this way, the disagreement carries more weight than it should. Yield and rewards are questions of design within a payments framework, not questions of systemic safety or financial stability. Treating them as existential risks has delayed an otherwise straightforward resolution, stalling progress on crucial market structure issues.
If one looks past talking points, a workable compromise is already available. Congress can explicitly enable federally regulated banks—including community banks—to offer yield on payment stablecoins. Banks gain a clear, federally sanctioned revenue and customer-acquisition opportunity in the stablecoin market. They obtain a straightforward way to secure customers and funds, especially important for community banks seeking to remain competitive in a world of mega-banks and scaled payment platforms. Crypto platforms, meanwhile, retain the incentive structures their customers expect and that are available under existing law. Congress gets to move market structure legislation forward and create a bill that can pass. And, most importantly, the American consumer benefits from increased competition and the ability to share in the yield potential of their own money.
Framing crypto as an existential threat to the community bank is a rhetorical tactic, not an economic reality. A recent empirical analysis finds no statistically meaningful relationship between stablecoin adoption and deposit outflows, suggesting stablecoins function primarily as transactional instruments rather than savings substitutes. In fact, properly regulated stablecoins may provide local and community banks with a pathway to modernize their payment offerings and reach new customers.
The rewards-yield question is a design issue that can be addressed without upending progress already made. A workable compromise exists that addresses banks' economic interests, protects crypto innovation and respects the settled law of the GENIUS Act. Advancing on that basis keeps the broader market structure package intact and provides the legal clarity that the American economy deserves.
The Senate has the tools to resolve this impasse and to follow the strong leadership displayed by the White House. Failing to do so would be a choice, not an inevitability
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
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Bitcoin è immediatamente salito dell'1,75% a circa $67,769, a seguito di una notizia dell'ultim'ora secondo cui la Corte Suprema ha annullato il vasto regime tariffario del presidente Trump.
Il responsabile Macro di 21shares Stephen Coltman ha osservato che “una sentenza negativa sui dazi potrebbe potenzialmente danneggiare i Treasury e il dollaro, a favore delle azioni e delle criptovalute.”
I prezzi delle criptovalute sono aumentati venerdì mattina dopo la notizia che la Corte Suprema degli Stati Uniti ha annullato il vasto regime tariffario del presidente Donald Trump.
Bitcoin
BTC+1,49%
è immediatamente salito dell'1,75% a circa $67,769, secondo la pagina dei prezzi di The Block. Altre criptovalute principali sono anch'esse in verde. Ethereum

South Korean prosecutors have recovered 320.8 BTC worth about $21.4 million after a hacker returned funds stolen from their custody, local media reported Thursday.
Robinhood’s Ethereum Layer 2 testnet processed four million transactions in the first week following its public launch, according to CEO Vlad Tenev.
Happy Thursday! Bitcoin
BTC+1.91%
is trading at around $66,000, with weakening ETF demand, fragile accumulation, and defensive positioning pointing to a range-bound market between roughly $79,000 and the $54,900 realized price floor, according to analysts at Glassnod
In today's newsletter, South Korean prosecutors recover $21 million worth of bitcoin stolen from their custody, Robinhood Chain's testnet generates four million transactions in its first week, DBA raises $68 million for its second venture fund, and more.
Meanwhile, Goldman Sachs CEO David Solomon revealed he owns a "very little" amount of bitcoin.
P.S. Don't forget to check out The Funding, a biweekly rundown of crypto VC trends. It's a great read — and just like The Daily, it's free to subscribe!
Hacker returns $21 million in stolen bitcoin to South Korean authorities
BTCUSD
$66,778.00
-0.03%
ETHUSD
$1,941.90
-0.04%
BCHUSD
$542.92
-2.85%
LTCUSD
$54.16
3.09%
XRPUSD
$1.41
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The Daily: Hacker returns $21 million in stolen bitcoin, Robinhood Chain testnet hits four million transactions in first week, and more
By James Hunt
Security•February 19, 2026, 12:33PM EST

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The Daily: Hacker returns $21 million in stolen bitcoin, Robinhood Chain testnet hits four million transactions in first week, and more
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South Korean prosecutors have recovered 320.8 BTC worth about $21.4 million after a hacker returned funds stolen from their custody, local media reported Thursday.
Robinhood’s Ethereum Layer 2 testnet processed four million transactions in the first week following its public launch, according to CEO Vlad Tenev.
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The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

Happy Thursday! Bitcoin
BTC+1.91%
is trading at around $66,000, with weakening ETF demand, fragile accumulation, and defensive positioning pointing to a range-bound market between roughly $79,000 and the $54,900 realized price floor, according to analysts at Glassnode.

In today's newsletter, South Korean prosecutors recover $21 million worth of bitcoin stolen from their custody, Robinhood Chain's testnet generates four million transactions in its first week, DBA raises $68 million for its second venture fund, and more.

Meanwhile, Goldman Sachs CEO David Solomon revealed he owns a "very little" amount of bitcoin.

P.S. Don't forget to check out The Funding, a biweekly rundown of crypto VC trends. It's a great read — and just like The Daily, it's free to subscribe!
Hacker returns $21 million in stolen bitcoin to South Korean authorities
South Korean prosecutors have recovered 320.8 BTC worth about $21.4 million after a hacker returned funds stolen from their custody, local media reported Thursday.
Investigators lost the bitcoin last August after entering recovery seed phrases on a phishing website during a probe into a gambling platform, but only discovered the loss in December.
Authorities had blocked transactions to centralized exchanges from the hacker's wallet, limiting the ability to liquidate the stolen assets.
Prosecutors have since moved the returned bitcoin to a local exchange for safekeeping and said they will continue efforts to track down the hacker's identity.
The incident prompted a nationwide review of investigative agencies' management of seized digital assets after additional police reports revealed further missing bitcoin that was held in custody.
Robinhood's Layer 2 testnet sees four million transactions in first week, CEO Vlad Tenev says
Robinhood's Ethereum Layer 2 testnet processed four million transactions in the first week following its public launch, according to CEO Vlad Tenev
The Arbitrum-based Robinhood Chain targets tokenized real-world assets and onchain financial services, including equities and ETFs.
The permissionless network previously underwent six months of private testing and has already integrated key infrastructure partners, including Alchemy, LayerZero, and Chainlink.
Robinhood plans to launch the mainnet later this year as part of its broader push into tokenization, including plans for round-the-clock trading and near-real-time settlement.siyam
Crypto investment firm DBA raises $68 million for its second venture fund
The New York-based firm, led by prominent Ethereum commentator Jon Charbonneau and former Galaxy Digital executive Michael Jordan, invests across early-stage and public crypto markets.
DBA, short for "doing business as," has previously backed infrastructure and application projects, including Monad, DoubleZero, Payy, MetaDAO, and bitcoin scaling startup Alpen Labs.
The firm said decentralized exchanges, ICO platforms, prediction markets, and impact markets represent key areas shaping the future of finance.
Uniswap governance considers activating protocol fees on all v3 pools, expanding to eight additional chains
Uniswap governance launched a temp check to expand protocol fees across all v3 pools and eight additional chains, including Arbitrum, Base, Celo, OP Mainnet, Soneium, X Layer, Worldchain, and Zora.
The proposal would introduce a tier-based mechanism to automatically apply fees across all remaining v3 pools, significantly expanding Uniswap's protocol revenue capture.
The system would route fees through TokenJar contracts and burn them as UNI on the Ethereum mainnet.
The vote marks the first major fee expansion under the new UNIfication governance framework.
CME Group to launch 24/7 crypto futures and options trading on May 29
CME's Tim McCourt said client demand for crypto risk management has reached "an all-time high," with a record $3 trillion in notional volume traded across its cryptocurrency futures and options in 2025.
While not all markets lend themselves to operating 24/7, providing always-on access to our regulated, transparent cryptocurrency products ensures clients can manage their exposure and trade with confidence at any time," he said.
#MegadropLista
#NOTCOİN
#BinanceHerYerde
#VeChainNodeMarketplace
#CryptoWatchMay2024

BGD Labs ha dichiarato che non rinnoverà il suo impegno con l'Aave DAO dopo il 1 aprile, ponendo fine a un ruolo di quattro anni come principale contributore tecnico dietro i principali sistemi di protocollo, inclusi Aave v3.
L'azienda ha citato preoccupazioni riguardo all'allineamento della governance, ai rischi di centralizzazione e all'approccio di Aave Labs allo sviluppo di v4 come fattori alla base della sua decisione di allontanarsi.
BGD Labs, un contributore tecnico fondamentale al protocollo Aave DeFi, ha dichiarato che cesserà il suo coinvolgimento con l'Aave DAO dopo che il suo attuale impegno di servizio si concluderà il 1 aprile, ponendo fine a quasi quattro anni di sviluppo e lavoro infrastrutturale sulla piattaforma di prestiti.

I Democratici della Camera hanno inviato una lettera formale al Segretario del Tesoro Scott Bessent per mettere in discussione la revisione da parte dell'OCC della domanda di World Liberty Financial per una licenza bancaria fiduciaria nazionale.
La lettera cerca chiarezza sulle garanzie per proteggere l'indipendenza normativa e chiede quale ruolo, se presente, abbia la Casa Bianca e il Tesoro nella decisione dell'OCC.
I Democratici della Camera hanno formalmente sollecitato il Segretario del Tesoro Scott Bessent a fornire risposte sulla revisione dell'Office of the Comptroller of the Currency relativa alla domanda di World Liberty Financial per una licenza bancaria fiduciaria nazionale, sollevando preoccupazioni riguardo alla proprietà straniera, alla sicurezza nazionale e all'indipendenza normativa.

Bitcoin remains trapped below its $79,000 True Market Mean level, with onchain models now framing a broad $79,000 to $54,900 structural range, Glassnode said.
Options markets show panic hedging fading, but analysts say liquidity conditions, ETF outflows, and macro uncertainty continue to cap conviction.
Bitcoin is still trading below a key onchain valuation benchmark heading into late February, as analysts say recent price action has reset the market’s structural framework, reflecting strained liquidity and the absence of sustained institutional demand.
Glassnode noted in its latest weekly report that bitcoin has decisively broken beneath the “True Market Mean” — a model tracking the aggregate cost basis of active supply. That level, currently around $79,000, has historically acted as a dividing line between expansionary and compression phases, it said.
With the breakdown confirmed, the firm sees the Realized Price near $54,900 — the average acquisition cost of all circulating coins — as the lower structural boundary. In previous cycles, the corridor between those two anchors has framed prolonged consolidation.
Bitcoin was trading around $67,700 at publication time, hovering within a broad $60,000 to $70,000 band that has defined recent price action, according to The Block’s price page.
Current price levels mark a further deterioration from earlier February conditions, when analysts noted bitcoin was “staying defensive” below $70,000 amid shallow demand. Since then, ETF flows have turned persistently negative, and spot sell pressure has intensified, reinforcing the lack of a structural bid beneath the market.
Glassnode’s data shows U.S. spot ETF net flows have rotated back into sustained outflows, removing what previously served as a steady source of marginal demand. Spot cumulative volume delta across major exchanges also flipped negative, signaling active sell-side aggression rather than passive liquidity gaps, the firm said.
While onchain accumulation metrics improved from outright distribution, appetite from large holders remains fragile, according to the Glassnode analysts. The Accumulation Trend Score has moved toward a neutral reading around 0.4, indicating that aggressive selling has eased, yet large-entity conviction has not returned in force. Liquidity conditions have stayed compressed, with realized profit-to-loss ratios stuck in a narrow band historically associated with stressed regimes, they said.
Meanwhile, derivatives positioning suggests the panic phase has cooled but not transitioned into renewed optimism. Implied volatility has retreated sharply from recent highs, and 25-delta skew — a gauge of downside hedging demand — has compressed from extreme levels. The data suggests traders are unwinding crash protection, but they are not rebuilding upside exposure in size, Glassnode said.
Macro conditions continue to shape the backdrop as well. Minutes from the Federal Reserve’s January meeting carried a hawkish tone, emphasizing patience on rate cuts and keeping the possibility of further tightening in play if inflation persists.
Bitcoin is navigating an adjustment phase amid macroeconomic caution,” said Antonio Di Giacomo, senior market analyst at XS.com, pointing to resistance near $70,000 and intermediate support around $64,000 to $65,000. He added that the lack of clarity around monetary easing is weighing on speculative assets.
Nic Puckrin, co-founder of Coin Bureau, said that liquidity — rather than technical levels alone — will determine when a durable bottom forms. He highlighted onchain spot volume data showing continued sell-side pressure and suggested deeper capitulation toward the $55,000 to $58,000 region remains possible unless ETF inflows return or the dollar weakens materially.
The tone echoes a recent K33 report, which said bitcoin is approaching “late bear market territory,” with regime signals resembling those seen near the 2022 bottom. Yet analysts caution that structural recovery typically requires a clear improvement in liquidity, not just positioning resets.
Despite the market gloom, there are some early stabilization signals. Kraken’s global economist Thomas Perfumo noted that implied volatility has diverged below realized volatility — a pattern that has preceded recovery phases in prior corrections. Coin Days Destroyed, a proxy for long-term holder activity, has also stabilized, suggesting reduced supply pressure from older coins, Perfumo said.
Still, multiple analysts' opinions reviewed by The Block agree that conviction remains muted. ETF flows are not cushioning downside, large entities are not accumulating aggressively, and macro conditions have yet to pivot decisively.
#YapayzekaAI
#UnicornChannel
#icrypto
#ONDO：
#pepe⚡

Le autorità malesi hanno arrestato 12 agenti di polizia accusati di aver costretto un cittadino cinese a trasferire la propria criptovaluta durante un raid domiciliare vicino a Kuala Lumpur.
Le autorità stanno indagando sul caso come un furto di gruppo che coinvolge criptovaluta, con gli arresti avvenuti in mezzo a un'intensificata sorveglianza anticorruzione in Malesia.
Le autorità malesi hanno arrestato 12 agenti di polizia accusati di aver estorto circa 200.000 ringgit ($51.000) in criptovaluta a un gruppo di cittadini cinesi durante un raid a mezzanotte in una casa vicino a Kuala Lumpur, secondo funzionari locali.

Metaplanet CEO Simon Gerovich published a statement pushing back against online criticism regarding the company’s transparency and bitcoin strategy.
Gerovich said Metaplanet’s stock has not underperformed bitcoin during the current market downturn.
Metaplanet CEO Simon Gerovich has directly addressed recent online criticism of the company's transparency and bitcoin
BTC+1.30%
strateg
On Friday, Gerovich published an X post pushing back against one online post accusing Metaplanet of engaging in dishonest disclosures, concealing high-priced bitcoin purchases, and mismanaging its strategy.
It's easy to hide behind an anonymous account, criticize others, and stir up flame wars without taking any responsibility whatsoever," Gerovich wrote in a translated statement. "However, I have absolutely no hesitation about publicly taking full responsibility for every single statement I make and every action Metaplanet takes."
Gerovich clarified that while Metaplanet detailed its borrowing terms and collateral, it withheld the lender's identity and exact interest rates to satisfy a confidentiality request from the counterparty.
The Metaplanet CEO also addressed criticism of the company's purchase of bitcoin during its September 2025 peak. Since the end of September, the bitcoin price has fallen by more than 40%, from around $114,000 to its current price of $67,900.
Yes, September turned out to be a local top — we're not denying that," Gerovich said. "But our strategy isn't about timing the market. It's about systematically and long-term accumulating bitcoin, regardless of the price level at which it's trading."
The ongoing market downturn led Metaplanet to report a net loss of 95 billion yen ($619 million) for 2025, driven primarily by a 102.2 billion yen ($665.8 million) unrealized valuation loss on its bitcoin holdings.
Despite the headline loss, Gerovich said operating profit surged 1,695% year-over-year to 6.29 billion yen ($41 million), which he argued demonstrates the strength of Metaplanet's strategy. He pointed to the company's bitcoin-related income activities, including selling put options to accumulate bitcoin at lower effective prices, and said unrealized losses on long-term holdings are not meaningful because the company has no intention of selling them.
Even in this year's down market, our stock fell 23% while bitcoin fell 24% — we have not underperformed," Gerovich said. "Every yen we've raised has been deployed exactly as disclosed and in line with the strategy we've clearly outlined."
Metaplanet's Tokyo-listed stock has slumped 63% over the last six months to 307 yen ($1.98), while its U.S. OTC shares mirrored that decline with a 64.6% drop, closing Thursday at $2.02. Still, the company continues its long-term bitcoin accumulation toward a target of 210,000 BTC by 2027, funded by operating cash flows and capital raises.
#FactCheck
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#IDKwhatIamdoing
#jasmyustd

Dome, which offers a unified API for prediction markets, was developed as part of startup accelerator Y Combinator’s Fall 2025 cohort.
The startup previously raised $500,000 from YC and a $4.7 million seed round.
Onchain predictions market provider Polymarket has acquired the relatively fresh startup Dome for an undisclosed sum, according to an announcement on Thursday.
Dome, part of startup accelerator Y Combinator’s Fall 2025 cohort, offers a unified API for prediction markets. In other words, it allows developers to build apps, bots, dashboards, or trading tools that work across platforms like Polymarket, Kalshi, and other platforms.
The startup raised $500,000 from YC and a $4.7 million seed, according to the X bio of co-founder Kunal Roy, who was also a founding engineer at Alchemy. Kurush Dubash, the other listed co-founder, is also a founding engineer at Alchemy, according to his YC bio.
We're excited to bring our focus on speed, reliability, and dev experience to the world’s largest prediction market!" Dome wrote on X.
Polymarket, last valued at $9 billion, reportedly has plans to raise fresh capital at a higher valuation, but has not made many acquisitions. Its purchase of U.S.-licensed derivatives exchange QCEX spearheaded the firm's reentrance into the United States, after previously being barred by the CFTC.
The firm has signed numerous distribution deals, including sports leagues like Major League Soccer and the National Hockey League, as well as media enterprises, most recently including Substack.
#Altcoins!
#Binance
#cryptouniverseofficial
#DelistingAlert
#ETHETFsApproved

Binance APAC Head SB Seker told The Block that the exchange will complete the restitution for Gopax’s GoFi users within this year.
In 2023, Binance acquired Gopax to rescue users from the liquidity crisis, a move that paved the way for Binance’s re-entry into the South Korean market.
After resolving the GoFi repayments, Binance will put in efforts to overtake competitors in the South Korean crypto market, Seker said.
Binance Head of APAC SB Seker said the world's largest exchange will aim to complete the restitution for South Korea's GoFi users this year, positioning the firm to challenge the top spot in the local crypto market.
In an interview with The Block on Friday, the Binance executive outlined the clearest timeline yet for resolving the long-running liquidity crisis. This would return lost funds to thousands of South Korean investors and clear a path for Binance to return to the local crypto market.
We're definitely looking to try and finish this off this year; it's been hanging over everybody's heads for some time," Seker said. "I think there's alignment on everybody's part. Users, us, regulators, and broader stakeholders, everyone wants to close this chapter."
GoFi, the DeFi service under South Korean crypto exchange Gopax, froze withdrawals in 2023 after its partner, Genesis Global Capital, halted withdrawals and subsequently filed for Chapter 11 bankruptcy in January 2023.
The crisis led Binance to step in, acquiring a majority stake in Gopax in February 2023 with the intention of injecting capital to help the affected GoFi users. However, South Korean authorities delayed approving Binance's acquisition of Gopax until late last year.
Following regulatory approval of the Gopax acquisition, Binance said that it will soon unveil the wallet address for the funds earmarked for GoFi user restitution, which is currently under third-party custody.
to a Thursday notice from Gopax, the wallet holds 11 different cryptocurrencies, including 775.11 BTC, 5,766.62 ETH, and 706,184.46 USDC. The restitution wallet has the same quantities of digital assets lost in GoFi, rather than their fiat value at the time of the freeze. This reflects the significant price appreciation of assets such as bitcoin and ether since the withdrawals were halted.
Binance holds the crypto ready, but still needs further approvals from various South Korean government agencies. The exchange is also finalizing a distribution plan to minimize costs for all parties involved.
Once repayments are completed, Binance plans to focus on stabilizing and upgrading Gopax, starting with technical and security support by bringing in Binance's global standards. Any potential upgrades in Gopax operations will be reviewed in the future when necessary, Seker told The Block.
We're also upgrading the suite of products that we can eventually offer into the market," Seker said. "These will be non-controversial, in our view, because these products already exist in the market."
Rebranding Gopax under the Binance umbrella remains under consideration but has not been confirmed. According to Seker, the focus remains on tailoring offerings to South Korea's regulatory framework while delivering products aligned with market demand and trends.
Looking further ahead, Binance sees opportunities in stablecoins, real-world asset (RWA) tokenization, and institutional adoption in the South Korean market.
Seker told The Block that Binance could support the distribution of Korean won-pegged stablecoins and payment systems utilizing such tokens, for which local lawmakers are currently working to bring more clarity. He added that distributing tokenized RWAs — beginning with security tokens — through potential partnerships with Korean consortia is another possibility.
Furthermore, Seker said Binance is ready to support Gopax in accommodating institutional customers, which the local exchange is already preparing for. Since last year, South Korea has been gradually easing its de facto ban on corporate crypto investment.
"I think we will harness the mega trends and build the business out in the first 12 months," Seker said.
Meanwhile, Binance could still face roadblocks, such as a proposal by South Korea's Financial Services Commission to cap major shareholders' stakes in crypto exchanges at 15% to 20%. Binance currently holds more than a 67% stake in Gopax.
Seker downplayed concerns about such risks. "It is just another development… We've become very, very adept at dealing with these things," he said. Seker also said that the country's high level of adoption, combined with a balanced mix of market demand and regulation, makes South Korea "the pinnacle of APAC" and potentially "one of the top three hubs in the world" for digital assets.
In three years, five years …. I think we will work our ass off to be competitive for the biggest place in the market," Seker added. Currently, Upbit and Bithumb dominate South Korea’s crypto landscape, with far greater market shares than Gopax. "Whether we overtake them or not, the results matter less than the objective and how we're trying to get there … We have confidence that the rankings will prove themselves."
#haroonahmadofficial
#orocryptotrends
#GoogleDocsMagic
#DelistingAlert
#TrendingTopic

Questo totale delle transazioni a vita include circa 3,5 miliardi di dollari in attività di trading onchain attraverso Solana, Ethereum e TON, secondo un annuncio di giovedì.
Kraken è in procinto di finalizzare un accordo per acquisire Backed, l'emittente di asset tokenizzati dietro le xStocks.
Le xStocks tokenizzate hanno superato i 25 miliardi di dollari in volume totale di transazioni da quando sono state lanciate lo scorso anno, inclusi 3,5 miliardi di dollari in attività onchain attraverso le implementazioni di Solana, Ethereum e TON.
Questo rinforza la posizione delle xStocks "come il fornitore più grande e il framework leader per le equità tokenizzate a livello globale," secondo un blog di Kraken di giovedì.

Newity has raised $11 million in new funding led by CMT Digital as it explores taking its small business lending platform onchain.
The fintech firm says it has helped over 125,000 businesses access $12 billion in loans and plans to announce its blockchain strategy in Q1.
Newity, a fintech firm focused on facilitating small business loans, has raised $11 million in a strategic funding round as it explores bringing those loans onchain.
CMT Digital, a division of trading and investment firm CMT Group, led the round, Newity said Thursday. Additional participants included private and institutional investors, Newity co-founder and co-CEO David Cody told The Block, but he declined to disclose their names.
Cody said the round marks Newity’s first fundraise, which began at the end of 2024 and closed in December 2025. The round was structured as a simple agreement for future equity (SAFE), he said, declining to disclose Newity’s valuation or whether any investors received board or advisory seats.
Newity was founded in 2020 during the COVID-19 pandemic by Cody and co-CEO Luke LaHaie to help small businesses navigate funding challenges during the Paycheck Protection Program, a U.S. Small Business Administration (SBA) loan initiative launched to support businesses during the crisis. After the program ended in May 2021, Newity shifted its focus to SBA 7(a) government-backed loans and growth term loans.
Newity itself is not an SBA lender. Instead, it acts as a lending service provider to participating SBA lenders, including Northeast Bank, which ultimately originate and approve the loans. Cody declined to name other lenders Newity works with.
Since launch, Newity said it has processed and serviced more than $12 billion in financing for over 125,000 small businesses. Cody said the average loan size is approximately $118,800 life-to-date, with a maximum loan size of $350,000.
Asked how using Newity differs from applying directly through an SBA lender, Cody said borrowers working directly with lenders must follow each lender’s process and timeline, which can vary significantly. “Some lenders have adopted technology; others still rely heavily on paper,” he said.
Newity, by contrast, offers a fully online application process, automated documentation workflows, and a dedicated team to move applications forward. Borrowers can receive funding in as little as three weeks through Newity, compared with traditional timelines that can exceed 12 weeks, he added.
Cody said Newity’s “AI-first underwriting platform” analyzes hundreds of data points — including credit checks, identity verification, and tax document summaries — to determine eligibility and streamline the application process. “This allows borrowers to receive a prequalified loan amount in less than 10 minutes and funding in as little as 21 days, rather than waiting 12+ weeks,” he said.
Newity generates revenue through loan-processing fees. On its crypto strategy, Cody said the firm is exploring various options to take loans onchain and expects to announce its path in the first quarter.
We’re not improving small business lending, we’re reinventing the financial infrastructure that connects entrepreneurs to capital,” LaHaie said. “AI and blockchain give us the infrastructure to empower our team to operate at the scale that this market demands.”
Newity is headquartered in Chicago and has about 115 employees, most of whom work from the office, with some remote staff, Cody said. The firm is actively hiring across partner, marketing, and technology roles, he added.
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Il Commissario SEC Hester Peirce ha chiarito come potrebbe apparire un'esenzione per l'innovazione.
Nel corso dell'ultimo anno, sia le aziende cripto che i giocatori della finanza tradizionale come Nasdaq e la Depository Trust and Clearing Corporation (DTCC) hanno esplorato le azioni tokenizzate.
La leadership della Securities and Exchange Commission ha svelato i dettagli di un'esenzione per l'innovazione proposta per i titoli onchain, descrivendola come un passo incrementale per integrare la tecnologia di tokenizzazione nei mercati dei capitali statunitensi.
Mercoledì, sul palco di ETHDenver in un formato di domanda e risposta, il Commissario SEC Hester Peirce e il Presidente Paul Atkins hanno chiarito come potrebbe apparire un'esenzione per l'innovazione. Atkins ha detto che prevede di presentare un piano per accelerare i prodotti cripto nel prossimo futuro.

Il Crypto Council for Innovation Ji Hun Kim ha convocato la riunione di ore giovedì, che è iniziata alle 9 a.m. ET, "costruttiva."
L'incontro di giovedì segna la terza sessione a porte chiuse convocata dalla Casa Bianca tra sostenitori delle criptovalute e gruppi bancari mentre i legislatori si confrontano su come trattare i premi sulle detenzioni di stablecoin.
La Casa Bianca ha ospitato un terzo incontro a porte chiuse giovedì tra sostenitori delle criptovalute e gruppi bancari mentre le negoziazioni sui rendimenti delle stablecoin continuano a plasmare il destino di una legge più ampia sulla struttura del mercato delle criptovalute.

Questo riepilogo delle assunzioni è stato scritto in collaborazione con la società di ricerca esecutiva crypto-native Intersection Growth Partners.
Combina la newsletter mensile di Intersection, che include assunzioni esecutive non riportate, e l'aggiornamento mensile sulle assunzioni di The Block.
Le assunzioni nel settore crypto sono rimaste attive fino a novembre, con scambi, aziende di pagamenti e team infrastrutturali che hanno aggiunto operatori senior in vari settori, legale e BD. Le aziende di venture hanno continuato a promuovere dall'interno, mentre i progetti nativi del Bitcoin e gli ecosistemi ZK hanno ampliato i team di leadership in vista delle roadmap del 2026. I talenti provenivano dalla finanza tradizionale e dalla grande tecnologia, in particolare nel rispetto delle normative, nelle partnership e nella gestione del marchio.

Voltage ha lanciato una linea di credito revolving programmatica che consente alle aziende di regolare pagamenti istantaneamente sulla Lightning Network mentre rimborsano i saldi in dollari USA, rimuovendo la necessità di detenere bitcoin nei loro bilanci.
Il lancio segue il potenziamento di Voltage con una transazione della Lightning Network da 1 milione di dollari tra Secure Digital Markets e Kraken, evidenziando l'uso crescente delle istituzioni dell'infrastruttura di pagamento di bitcoin.
Bitcoin
BTC-2.22%
L'azienda di infrastrutture Voltage ha annunciato giovedì il lancio di Voltage Credit, una linea di credito revolving che consente alle aziende di inviare pagamenti con finalità istantanea sulla Lightning Network mentre rimborsano la struttura in dollari USA da un conto bancario standard.

Il Gruppo Reale degli Emirati detiene $453,6 milioni in bitcoin attraverso operazioni collegate a Citadel Mining, generando $344 milioni in profitti non realizzati, al netto delle spese energetiche, ha dichiarato Arkham giovedì.
Lo stato del Golfo conserva la maggior parte dei suoi bitcoin estratti autonomamente, con registrazioni onchain che mostrano che l'ultima uscita di fondi è avvenuta quattro mesi fa.
Gli Emirati Arabi Uniti stanno accumulando circa $344 milioni in profitti non realizzati da operazioni di mining di bitcoin legate alla famiglia reale, escluse le spese energetiche, secondo i dati di Arkham.

I pubblici ministeri sudcoreani hanno recuperato bitcoin del valore di 21 milioni di dollari che erano stati rubati dalla loro custodia lo scorso anno.
le autorità hanno bloccato le transazioni degli exchange centralizzati che coinvolgevano gli asset rubati, anche se i pubblici ministeri hanno dichiarato che l'identità dell'hacker rimane sconosciuta.
L'hacker ha restituito il bitcoin dopo che le autorità hanno bloccato le transazioni degli exchange centralizzati che coinvolgevano gli asset rubati, anche se i pubblici ministeri hanno dichiarato che l'identità dell'hacker rimane sconosciuta
I pubblici ministeri sudcoreani hanno recuperato circa 21,4 milioni di dollari in bitcoin

L'azienda di prestiti ha venduto obbligazioni del valore di 188 milioni di dollari garantite da bitcoin.
Jefferies Financial Group ha servito come agente di strutturazione e bookrunner per l'affare obbligazionario.
Ledn ha venduto 188 milioni di dollari in obbligazioni cartolarizzate garantite da bitcoin, ha riportato Bloomberg mercoledì.
L'affare comprende due obbligazioni, inclusa una parte di investimento di grado che è stata quotata a uno spread di 335 punti base rispetto al tasso di riferimento," ha detto Bloomberg, citando fonti anonime.
Ledn, che consente agli utenti di prendere in prestito contro i loro bitcoin anziché venderli, ha originato miliardi di dollari in prestiti dalla sua fondazione. A novembre, il gigante delle stablecoin Tether ha investito in Ledn, apparentemente poiché la domanda di credito garantito da bitcoin accelera nei mercati al dettaglio e istituzionali.