Crypto Breaking

Bitcoin investors are rethinking the asset’s role as inflation cools, according to Bitcoin entrepreneur Anthony Pompliano. He told Fox Business that a softer inflation backdrop raises questions about Bitcoin’s value proposition as a finite-supply asset, especially if central banks continue to pursue accommodative policies. With January’s Consumer Price Index (CPI) cooling to 2.4% from 2.7%, the macro narrative is shifting and traders are weighing how long the inflation narrative can sustain crypto’s narrative as a hedge. The current price action mirrors a cautious mood within the market, as Bitcoin has retreated over the past month while sentiment remains subdued.

Key takeaways

January CPI came in at 2.4% year over year, down from 2.7% in December, signaling a softer inflation backdrop.

Bitcoin’s sentiment measure has slipped to multi-year lows, with the Crypto Fear & Greed Index signaling “Extreme Fear” at a recent reading.

The flagship cryptocurrency is trading around the mid-to-upper $60 thousands, after a roughly 28% decline in the last 30 days.

The U.S. dollar’s strength has cooled, with the dollar index down about 2.3% over the past month, reflecting shifting macro dynamics.

Pompliano outlined a “monetary slingshot” thesis: as the dollar devalues and deflationary pressures surface in the near term, Bitcoin could gain longer-term value even if near-term volatility persists.

Tickers mentioned: $BTC

Sentiment: Bearish

Price impact: Negative. Bitcoin’s price has fallen roughly 28% over the past month as macro concerns and sentiment weigh on risk assets.

Market context: In a broader macro context, inflation data and policy expectations continue to shape appetite for risk assets, including crypto. Traders are watching how central banks respond to evolving growth signals, while crypto-specific catalysts compete with traditional macro forces in steering flows and volatility.

Why it matters

The debate over Bitcoin’s role as a hedge against inflation has long hinged on the premise that a fixed supply will preserve value when fiat currencies are debased. Pompliano’s comments underscore the tension between theory and market reality: even as inflation data cools, the path of monetary policy remains uncertain, and investors are wary of premature conclusions about a lasting inflation retreat. In the near term, softer inflation can sap risk premium, potentially slowing the upside impulse for non-fiat stores of value like Bitcoin. Yet the longer-term case for supply-limited assets persists in the eyes of many bulls, particularly if policy makers persist with higher money growth or if inflation surprises to the upside later in the cycle.

The price action around Bitcoin during this period is a reminder that macro-driven volatility remains a defining feature of markets. The asset’s correlation with broader risk sentiment has intensified at times, even as proponents argue that the fixed supply and ever-closer approach to a 21 million cap provide a unique resilience during downturns. The current price backdrop—around $68,850 at publication and a 28% decline over 30 days—illustrates the tug-of-war between inflation awareness and liquidity conditions in crypto markets. The discussion around how monetary policy interacts with digital assets is likely to stay in focus as investors recalibrate what constitutes a hedge in a low-inflation regime that could be reinforced by policy shifts in the months ahead.

Additionally, the commentary around a potential “monetary slingshot” frames Bitcoin as part of a broader debate about how currency debasement and macro policy interact with a new generation of investors. If the dollar softens further in response to renewed expectations for money supply expansion or rate adjustments, Bitcoin could attract fresh inflows as an alternative store of value. That possibility exists alongside the reality that sentiment remains fragile and technicals are unsettled, making immediate directional bets more challenging for casual traders and even some long-term holders.

The impact of macro data on crypto markets is not isolated to Bitcoin. Broader market dynamics—ranging from ETF activity to sentiment gauges—continue to influence the pace and direction of capital into digital assets. Investors are weighing whether the inflation narrative can reassert itself or if structural shifts in the macro environment will redefine how crypto assets behave in risk-off cycles. In parallel, other macro indicators—like the strength or weakness of the U.S. dollar—will help determine whether BTC can sustain any upside or if it remains trapped within a wider risk-off regime.

For readers following the latest data points, the CPI figure and the Fed’s communications are central to the story. While the inflation print itself is a headline, the deeper question is whether the disinflationary trend proves durable or merely a snapshot in a more complex cycle. As Pompliano noted in his remarks, even if inflation cools on the surface, structural changes in policy and global liquidity conditions could continue to shape the narrative around Bitcoin’s long-term value proposition.

In parallel, the market’s mood as reflected by the Crypto Fear & Greed Index and the price movement of Bitcoin underscore a broader caution. The index’s “Extreme Fear” reading suggests that participants are reluctant to push risk assets higher, even when macro data offers a glimmer of relief. Traders will be watching next month’s inflation data, policy statements, and the evolving set of on-chain metrics to gauge whether the current sell-off represents a temporary pause or the onset of a new leg lower.

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This article was originally published as Bitcoin Holders Are Being Tested as Inflation Fades, Pompliano on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Ether traded back above the $2,000 level on Friday, extending gains after the US consumer price index print came in cooler than expected. The relief rally adds to a nascent recovery narrative that could open the door to a test of higher targets if momentum sustains. Market participants are parsing a mix of on-chain signals, leverage data, and institutional demand as they gauge whether this move can translate into a durable bottom or simply a short-lived bounce. With weekly closes in focus, traders are watching for follow-through in the days ahead, while crypto derivatives data continues to feed the debate over whether risk appetite is finally pivoting in Ethereum’s favor.

Key takeaways

Ether futures’ open interest across major exchanges has fallen by about 80 million ETH in the past 30 days, signaling a broad reduction in leveraged exposure rather than new long bets.

Binance, the largest venue by volume, led the decline with roughly 40 million ETH pulled from futures positions (about half of the total drop), underscoring a widespread de-risking trend across top platforms.

Across Gate, Bybit and OKX, combined declines pushed the total among the four major platforms toward a cumulative drop of roughly 75 million ETH, suggesting the trend is not isolated to a single exchange.

Funding rates on Binance slipped into deep negative territory (around -0.006), the lowest seen in about three years, implying extreme bearish positioning that could set the stage for a short squeeze if buyers re-emerge.

Technically, Ether has carved out a bullish setup, breaking from a falling wedge and hovering near $2,050; a measured move could target around $2,150, with potential tests of the 100-period SMA near $2,260 and a path toward $2,500 if demand accelerates.

On-chain activity and rising institutional demand have persisted as tailwinds, with cost-basis accumulation identified around the $1,880–$1,900 zone helping form a potential price base for further upside.

Tickers mentioned: $ETH

Sentiment: Bullish

Price impact: Positive. The cooler CPI print contributed to a rebound from the $2,000 area and increased odds of an extended bounce toward higher targets.

Trading idea (Not Financial Advice): Hold. The setup points to potential upside on continued demand signals, but traders should remain mindful of macro surprises and the possibility of renewed volatility if liquidity conditions shift.

Market context: The latest inflation data appears to have nudged investors back toward risk assets, helping to ease some of the near-term macro headwinds that had weighed on crypto markets. Although liquidity remains uneven across venues, the combination of weaker-than-expected inflation readings and supportive on-chain dynamics has contributed to a more constructive backdrop for Ethereum in the near term.

Why it matters

From a market perspective, Ethereum’s price action this week matters not only for holders but for the broader crypto ecosystem. The confluence of falling open interest and negative funding rates suggests many participants were trimming risk rather than chasing new bets, which can reduce the likelihood of rapid, force-driven liquidations in a downside scenario. In such environments, a cleaner backdrop often arises where a new rally can take hold more easily if buyers step in decisively, creating a more stable price base. The sustained improvement in network activity and inflows from institutional actors adds another layer of fundamental support that could help underpin a more durable recovery beyond short-term speculative moves.

On the on-chain front, the observed accumulation at sub-$2,000 levels signals a cadre of investors is building a longer-term stance, a factor that matters because the health of Ether’s network—usage, validator activity, and transaction throughput—has historically fed into price resilience. This dynamic aligns with discussions in the space about Ether’s role not just as a trading instrument but as a network with ongoing growth potential, particularly if demand from institutions and developers continues to accrete.

For market participants, the critical question is whether the $2,000 threshold can function as a genuine floor in the current cycle. If price can hold that level and push higher, momentum could attract fresh buyers and sequentially lift Ether toward the $2,150–$2,260 range in the near term, with a longer arc toward the $2,500 zone if fundamental and technical signals align. Conversely, a break below that level could accelerate downside risk, especially if systemic liquidity tightens or macro headlines shift sentiment once again. In either case, the latest data suggest that the market is closer to a base-building phase than a continuation of the prior downtrend.

What to watch next

Monitor whether ETH holds the $2,000 support on continued trading sessions and whether buyers emerge at the next test of resistance around $2,150.

Track open interest and funding rates across major exchanges for signs of capitulation ending or renewed leverage entering the market.

Watch for a potential challenge to the 100-period simple moving average near $2,260 and any subsequent move toward $2,500 if momentum remains constructive.

Observe on-chain signals, including ongoing accumulation patterns and institutional flow indicators, for signs of sustained demand beyond short-term price action.

Sources & verification

CryptoQuant Quicktake: Ethereum open interest across major exchanges declines by over 80 million ETH in 30 days.

CryptoQuant analysis on funding rates hitting -0.006, the lowest level since December 2022, signaling extreme bearish positioning.

Glassnode heatmap data showing a cost-basis distribution with substantial support between $1,880 and $1,900 and roughly 1.3 million ETH accumulated there.

On-chain signals and institutional inflows discussed in related coverage, including notes on network activity tailwinds for Ether.

Ether price action and outlook

Ether broke out of a descending wedge on the four-hour chart and traded around $2,050 at the time of observation. The measured move from the breakout points toward $2,150 highlights a near-term upside trajectory, with the potential to test higher resistance if the rally gains traction. The same chart framework points to possible retests of the 100-period simple moving average near $2,260, followed by a pathway toward the $2,500 horizon should momentum accelerate beyond the immediate levels.

On the downside, a firm hold above the psychological $2,000 level remains a critical anchor, reinforced by the 50-period moving average that has acted as interim support in recent sessions. The cost-basis distribution heatmap from Glassnode emphasizes a populated zone beneath the current price, where long-term holders have previously shown willingness to accumulate, which could provide a stabilizing force if price action turns choppy in the near term.

Historically, periods of negative funding rates at strong price floors have preceded short squeezes that sparked sharper moves to the upside. If the current dynamic persists—declining open interest, controlled leverage, and improving macro sentiment—ETH could establish a more durable base rather than form a brief rally followed by renewed volatility. As market attention shifts toward macro cues and ETF developments, investors will be watching how ETH behaves around key support levels and whether on-chain demand sustains the current trajectory.

This article was originally published as ETH Open Interest Drops to 3-Year Low: What It Means for Ether Price on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Ether continues to hover near the $2,000 area, but the bulls facesheadwinds from a suite of macro and market dynamics that could cap any bounce. Traders are parsing corporate earnings guidance, the trajectory of US government debt refinancing, and mounting global tensions that can keep risk assets on a sensitive leash. After a brief rebound earlier in February, Ether has struggled to muster sustained upside as funding costs stay elevated and investors rotate toward liquidity in short-term Treasuries. The balance of on-chain activity, investor sentiment, and macro indicators will likely determine whether $2,000 acts as a magnet or a battleground for the next leg of this cycle.

Key takeaways

Institutional demand for Ether is cooling as investors shift toward the safety of short-term US government bonds.

High interest rates and rising ETH supply make the current staking yield less attractive for long-term holders.

US-listed Ether ETFs posted net outflows, underscoring a shift in liquidity away from Ether-related products in the near term.

Markets are pricing in the potential for further rate cuts by the Fed in 2026, as signs of economic stagnation temper inflationary risks.

Tickers mentioned: $ETH

Sentiment: Bearish

Price impact: Negative. Ether is facing renewed downside pressure amid macro headwinds and fading ETF inflows.

Market context: The broader crypto landscape remains heavily correlated with macro liquidity and risk sentiment. As investors reassess growth trajectories and central bank paths, flows into Ether ETFs and related instruments have become a bellwether for institutional appetite. With the 2-year US Treasury yield echoing the low- to mid-3% regime seen in recent sessions, traders anticipate a possible easing cycle later in the year, a dynamic that often trades off against appetite for higher-risk, high-utility assets like Ether.

Why it matters

Ether’s ability to sustain price strength is intimately tied to both on-chain economics and external financial conditions. The network’s staking yield—already a focal point for long-term holders—faces increased scrutiny as the annual ETH supply growth persists at roughly 0.8%. Against a backdrop of a stagnant or sluggish macro backdrop, a 2.9% staking yield becomes less compelling for risk-averse investors when the Fed’s target rate sits higher, and bond markets offer a comparatively safer carry. This dynamic can dampen the incentive to stake, potentially dampening network security metrics and long-term price resilience if the flow of fresh ETH to stake is subdued.

Market momentum has also been influenced by ETF mechanics. Recent outflows from US-listed Ether ETFs, totaling around $242 million over a short window, have erased earlier inflows that followed Ether’s bottoming around the mid-$1,700s in February. Although the outflows represent a fraction of total assets under management, they signal a shift in sentiment among institutional participants who previously sought exposure through regulated wrappers. Net flows matter because they influence price discovery and liquidity, especially in a market where players weigh the relative safety of traditional assets against the potential upside of a more scalable and active network.

From a technical and derivatives perspective, traders have grown more cautious. The options market shows a tilt toward downside protection, with the delta skew for Ether options tracing above longer-term averages as investors pay a premium for put-driven hedges or neutral-to-bearish bets. This mood aligns with the observation that the asset trades substantially below its all-time highs, and even a mid-cycle recovery may be met with sellers who view rallies as opportunities to exit risk exposure.

Even as macro narratives push risk-off tendencies, Ether’s position as the leading smart contract platform remains intact in terms of activity and TVL leadership. Yet, the near-term price path hinges on a confluence of factors: corporate earnings resonance, the pace of debt refinancing, and the macro impulse toward or away from expansionary fiscal measures. The market is also watching policy signals and potential regulatory clarity that could influence appetite for crypto assets overall. In parallel, other networks offering base-layer scalability and faster on-chain throughput keep pressuring ETH’s relative competitive stance, particularly when investors seek higher efficiency at a similar risk profile.

Overall, the market narrative remains cautious. Traders acknowledge that a meaningful downside could be tempered by supportive macro cues or favorable liquidity conditions, but the immediate trajectory appears tethered to external events rather than purely on-chain developments. In this environment, Ether’s price reactivity is likely to depend on the collectivity of earnings surprises, debt management decisions, and the speed at which risk appetite re-emerges after episodes of volatility.

What to watch next

Upcoming corporate earnings season and guidance revisions that may influence broader risk sentiment.

US government debt refinancing milestones and any shifts in fiscal policy that affect liquidity conditions.

Net ETF flows for Ether products in the next reporting period and any changes in investor allocations.

Macro data releases and Fed commentary that could solidify or alter expectations for rate cuts in 2026.

On-chain activity and staking metrics that could alter the relative attractiveness of ETH staking over time.

Sources & verification

US-listed Ether ETF net flow data and related commentary from market trackers and issuer analyses.

Pricing and yield data for the US 2-year Treasury, with context on regime expectations for Fed policy.

Historical ETH price actions, including the February bottom around $1,744 and subsequent recovery patterns.

Derivatives metrics for ETH, including delta skew readings from Deribit via data providers.

On-chain and market commentary describing total value locked and network leadership dynamics in short- to mid-term cycles.

Ether under pressure as macro cues weigh on ETH

Ether (Ether (CRYPTO: ETH)) has spent recent sessions hovering near the $2,000 level, with constraints on a sustained move above roughly $2,150 since early February. The hesitation is not solely technical; it reflects a complex interplay between macro policy expectations, investor risk appetite, and the evolving structure of liquidity in crypto markets. After a brief bounce off a February trough around the mid-$1,700s, Ether’s price action has cooled as traders reassess the durability of any rally in the face of higher funding costs and competing opportunities in fixed income.

One of the critical macro signals comes from the bond market. The US two-year Treasury yield has moved toward the lower end of its range, around the 3.4% area, signaling that participants anticipate a more accommodative stance from the Federal Reserve in the coming years. This shift in rate expectations tends to push investors toward safer assets, including government debt, and away from higher-beta risk assets like Ether. The dynamic is reinforced by growth signals that, at least in the near term, point toward a more tepid expansion, which reduces inflationary pressure and can further support a cautious easing bias by the Fed.

In the near term, the ETF landscape remains a focal point. After a period of resilience, US-listed Ether ETFs posted net outflows that overshadowed earlier inflows tied to the recovery from the February dip. The outflows—calibrated against a substantial asset base—suggest that some institutional participants have scaled back their near-term exposure, contributing to soft price action. This is particularly relevant given that the broader crypto market often tracks risk-on/risk-off sentiment as much as, if not more than, internal on-chain metrics.

On-chain and derivatives metrics offer a complementary view of sentiment. The ETH options market has shown elevated demand for hedges, with the delta skew for 30-day options remaining elevated and indicating a willingness among professional traders to pay for protection against downside moves. The dataset, drawn from sources measuring the put-call balance, underscores a prevailing mood of caution among market participants who are mindful of the higher probability of further drawdowns given the current macro backdrop. This sentiment aligns with the six-month bear-market narrative, as Ether trades well below its all-time high and investors weigh the risk/reward of staking versus holding for appreciation.

Supply dynamics also weigh on the long-term narrative. Ether’s annualized supply growth sits modestly positive, while the immediate yield offered by staking remains modest in comparison to the prevailing interest rate environment. For long-term holders, the attractiveness of staking becomes a function of both yield and the perceived safety of ETH as a platform with continued innovation and network effects. The tug of war between yield, risk, and network activity will help determine whether staking becomes a stronger driver of price stability or a source of selling pressure if yields fail to outpace risk premia in traditional markets.

Market leadership in on-chain activity and TVL remains a strength of the Ethereum ecosystem, which helps to anchor Ether’s longer-term narrative even as near-term price action exhibits caution. However, the combination of macro sensitivity, ETF flow dynamics, and derivatives positioning means that the path forward is likely to be incremental rather than transformative in the near term. Investors will be watching not only macro indicators and corporate earnings but also regulatory clarity and liquidity shifts that could redefine the risk landscape for crypto assets in the months ahead. The outcome will shape whether Ether can regain momentum or continue to trade in a constrained range as the market reconciles macro expectations with the evolving use cases on Ethereum’s network.

For readers tracking the broader macro and on-chain narrative, the next few weeks will be telling. If inflation eases more rapidly than anticipated or if the Fed signals a clearer path toward rate cuts, risk appetite could stabilize and support a healthier Ether environment. Conversely, if growth indicators surprise to the downside or if liquidity conditions tighten further, ETH could test new near-term lows as traders search for safety and retreat from higher-risk exposures.

This article was originally published as Ether Holds $2K as $242M Spot ETH ETF Outflow Could Reignite Downside on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Disputa reglementară care modelează piețele cripto s-a intensificat pe măsură ce legislatorii împing Legea CLARITĂȚII, o propunere destinată să reconcilieze jurisdicția între Comisia pentru Valori Mobiliare și Burse (SEC) și Comisia pentru Comerciale Futures (CFTC), introducând în același timp o taxonomie formală pentru activele digitale. În acest context, consilierul cripto al Casei Albe, Patrick Witt, a argumentat că permiterea programelor de recompensă în stablecoin oferite de platformele cripto nu ar trebui să amenințe băncile tradiționale, cerând loc pentru compromis între industrie și incumbente. El a descris conflictul actual asupra randamentelor din stablecoin ca fiind „nefericit”, insistând că platformele pot oferi produse de randament fără a perturba modelele bancare existente. O linie cheie de dezbatere se concentrează asupra faptului că aceste randamente constituie un avantaj injust sau o extensie naturală a serviciilor cripto pe care băncile le urmăresc deja prin statuturile OCC.

Informații Cheie

Warren pune întrebări despre respingerile cazurilor SEC, avertizând că politica ar putea influența aplicarea legii criptomonedelor și protecția investitorilor.

Președintele SEC, Atkins, apără o schimbare de la procese, prioritizând prevenirea fraudei și orientările reglementare mai clare.

Conflictul din Senat evidențiază divizarea: legi criptomonede mai clare vs. aplicare mai strictă pentru a proteja piețele și inovația.

Audierea din Senat s-a transformat într-un punct de aprindere pentru criptomonede

O audiere fierbinte la Capitol Hill pe 12 februarie a adus reglementarea criptomonedelor din SUA în centrul atenției, în timp ce senatorul Elizabeth Warren l-a provocat pe președintele Comisiei pentru Valori Mobiliare și Burse (SEC), Paul Atkins, cu privire la deciziile recente de aplicare a legii ale agenției.

Informații cheie

Ministerul de Finanțe din Marea Britanie a ales HSBC Orion pentru a testa emiterea și decontarea pe blockchain pentru obligațiuni digitale într-un mediu controlat.

Pilotul DIGIT vizează decontarea aproape în timp real și costuri operaționale mai mici în cadrul pieței de obligațiuni suverane din Marea Britanie.

Supravegherea de reglementare paralelă continuă, în timp ce autoritățile din Marea Britanie monitorizează accesul la ETN legate de criptomonede pentru investitorii de retail.

Ministerul de Finanțe din Marea Britanie a anunțat că HSBC este furnizorul de platformă pentru pilotul său Digital Gilt Instrument (DIGIT). Decizia susține propunerea guvernului de a moderniza emiterea datoriilor suverane prin tehnologia registrului distribuit. Oficialii au confirmat numirea pe 12 februarie 2026, în urma unui proces competitiv de achiziție lansat la sfârșitul anului 2025.

Camera inferioară a Olandei a avansat un plan cuprinzător de impozitare a câștigurilor de capital joi, propunând un impozit de 36% pe economii și cele mai multe active lichide, inclusiv criptomonede. Proiectul de lege a fost aprobat de Camera Reprezentanților cu 93 de legislatori votând în favoare, întâlnind și depășind pragul de 75 necesar pentru a avansa măsura. Acesta s-ar aplica indiferent dacă activele sunt vândute, extinzându-se la conturile de economii, deținerile cripto, cele mai multe investiții în acțiuni și câștiguri din instrumente financiare cu dobândă. Dacă Senatul aprobă, politica ar intra în vigoare în anul fiscal 2028. Criticii susțin că planul riscă să alunge capitalul din Olanda, pe măsură ce investitorii caută jurisdicții cu condiții fiscale mai favorabile. Discuția vine în contextul unei conversații globale mai ample despre impozitarea criptomonedelor și modul în care câștigurile nerealizate ar trebui tratate atât pentru investitorii cu averi mari, cât și pentru cei de retail. Numărul olandez, publicat de Cameră, confirmă momentum legislativ în spatele propunerii.

Anchorage Digital, Kamino, and Solana Company are piloting a structure that could ease a longtime friction between traditional finance and DeFi: the ability to borrow against staked tokens without moving assets out of regulated custody. The collaboration expands Anchorage’s Atlas collateral management platform by integrating Kamino, a Solana-based decentralized lending protocol, with a framework that keeps collateral in custodial control. Solana (SOL) ((CRYPTO: SOL)) sits at the center of the arrangement, as the Solana Company treasury—an on-chain asset pool backed by Pantera Capital and Summer Capital—provides a tangible anchor for the program. The goal is to give financial institutions liquidity without forcing them to relinquish staking rewards or move assets into smart contracts that may carry higher regulatory or operational risk.

Key takeaways

Atlas’s collateral management is being extended to support native staking positions, enabling lenders to use staked SOL as collateral while assets remain in Anchorage’s custody.

Anchorage acts as collateral manager, setting loan-to-value ratios and margin requirements, and performing liquidation if necessary, removing the direct on-chain custody burden from regulated entities.

The involved treasury, Solana Company, holds a large SOL position and participates in governance and risk disclosures through its custodial framework and public partnerships.

The move unfolds amid a broader regulatory debate in the United States around DeFi, with the CLARITY Act aiming to clarify jurisdiction and standards for digital-asset activities.

Industry groups warn that early draft language does not fully distinguish between centralized intermediaries and decentralized protocols, adding a layer of regulatory risk to institutional adoption.

Tickers mentioned: $SOL

Sentiment: Neutral

Market context: The development mirrors growing institutional interest in DeFi-enabled liquidity while regulators weigh how to apply traditional securities and banking rules to on-chain lending and custody models.

Why it matters

The Anchorage-Kamino-Solana Company arrangement represents a tangible path for institutions to engage with decentralized lending markets without altering their custody and compliance posture. By keeping the collateral in segregated, regulated custody at Anchorage Digital Bank, lenders can maintain certainty around asset segregation, reporting, and risk controls that are typically required for regulated entities. The model reduces a historical hurdle: moving assets into on-chain, non-custodial environments that can complicate lending approvals, risk management, and auditability for banks and asset managers.

From a risk-management perspective, Anchorage’s role as collateral manager—determining loan-to-value caps, margin calls, and potential liquidations—adds a familiar, governance-backed framework to on-chain lending. It gives institutions a governance layer that complements Kamino’s DeFi lending markets, potentially expanding the universe of assets that institutions are comfortable using as collateral. The custody-first approach aims to preserve staking rewards, which for SOL holders can mean ongoing yield while accessing liquidity. This is particularly salient for large treasuries such as Solana Company, which has built a sizable SOL position and participates in ecosystem funding and governance through its holdings.

Regulators, on the other hand, watch closely. The CLARITY Act, which seeks to establish clearer jurisdiction and regulatory standards for digital assets, has become a focal point in policy debates. While supporters argue the bill would reduce uncertainty for market participants, critics counter that it does not fully delineate how decentralized protocols, developers, and governance frameworks should be treated under the law. The tension is evident in industry discussions and public commentary, underscoring that even innovative custody-friendly DeFi solutions must operate within an evolving regulatory landscape. In this context, the Anchorage-Kamino-Solana Company collaboration can be seen as a practical test case: it demonstrates what regulated institutions are willing to try, and where policy gaps may need to be filled to broaden safe participation.

Solana Company’s position—reported to be one of the largest SOL-based treasuries—adds another layer of credibility to the experiment. Its holdings, and the associated disclosures, underscore the willingness of specialized treasury teams to explore on-chain lending as a liquidity tool, provided that custodial safeguards remain intact. The project’s public materials also point to Solana’s ecosystem ambitions and the role of strategic treasury management in supporting on-chain liquidity without destabilizing staking yields or governance processes.

Solana Company is the second-largest SOL-based digital asset treasury, holding 2.3 million SOL. Source: CoinGecko

The technical structure hinges on integrating Kamino’s lending protocol with Atlas’s collateral framework. Under the program, a loan would be issued against natively staked SOL, but the actual SOL remains in Anchorage’s segregated custody. That separation matters because it preserves the institution’s regulatory, accounting, and risk-management controls while granting access to liquidity through Kamino’s on-chain markets. Anchorage’s oversight includes monitoring collateral value relative to loan size, maintaining margin requirements, and triggering liquidations if risk thresholds are breached. This model avoids the conventional requirement for institutions to transfer assets into smart-contract-based vaults, a sticking point that has historically limited regulated participation in DeFi lending markets.

The integration was announced in a period when Solana’s ecosystem, including its treasury vehicles, has been under scrutiny for both performance and risk. The Solana ecosystem’s public-facing information notes that the Solana Company treasury holds a substantial stake in SOL, reinforcing the relevance of this development to how large on-chain holders think about liquidity and risk. This event aligns with broader industry interest in on-chain lending, especially where custody remains in regulated environments. For market participants, the arrangement signals a potential template for expanding institutional DeFi exposure without eroding the protections and oversight that banks and trust companies emphasize.

What to watch next

Regulatory clarity progress on the CLARITY Act and related DeFi governance provisions, including any committee votes or amendments that clarify custody vs. on-chain lending.

Milestones in the Atlas-Kamino integration, such as go-live dates, onboarding of initial institutional users, and risk-management enhancements.

Solana Company’s ongoing SOL portfolio disclosures and any new risk disclosures tied to staking yields and on-chain liquidity use.

Updates from Anchorage Digital Bank on custody controls, compliance reporting, and risk-management metrics as more institutions engage with the structure.

Sources & verification

Anchorage Digital’s expansion of Atlas collateral management through Kamino integration with Solana Company’s treasury.

Solana Company treasury data and public disclosures via CoinGecko.

CLARITY Act overview and DeFi market-structure discussions.

Public policy discussions and industry meetings surrounding DeFi oversight, including high-level regulatory engagement by the Trump administration.

Market reaction and key details

The collaboration between Anchorage Digital, Kamino, and Solana Company illustrates how institutions may bridge custody-grade risk controls with DeFi liquidity pools. By enabling native staking positions to serve as collateral without a custody transfer, the program could unlock new liquidity channels for regulated entities. The emphasis on collateral management, risk controls, and segregated custody is consistent with a broader trend: institutions seeking to participate in on-chain lending while preserving traditional compliance and reporting regimes. The Solana ecosystem’s treasury dynamics, including Solana Company’s substantial SOL holdings, will be watched closely to see how risk disclosures evolve as the program expands. For practitioners, the approach could inform future collaborations that pair regulated custody with decentralized markets, potentially shaping how banks, asset managers, and corporate treasuries view DeFi liquidity tools.

Key figures and next steps

The project’s practical implications hinge on governance, custody risk controls, and the speed at which regulated institutions feel comfortable expanding their DeFi participation. If the pilot proves scalable and appropriately regulated, it may pave the way for broader adoption of staking-backed liquidity facilities that keep assets under regulated custody while granting on-chain access to lending markets. Observers will be watching for formal go/no-go decisions from participating institutions, any changes to Atlas collateral parameters, and additional asset classes considered for similar custody-preserving lending structures.

This article was originally published as Anchorage, Kamino Let Firms Borrow Against SOL Without Moving Custody on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitcoin (CRYPTO: BTC) kicked off Friday’s session with a modest smile, boosted by a softer-than-expected January CPI print that renewed appetite for risk assets. Traders priced in cooler inflation while keeping a wary eye on the path of policy, with the largest cryptocurrency carving a path toward notable resistance as the CPI data circulated. At one point, BTC rose by as much as 4% intraday, with the benchmark token trading near the $69,000 region on Bitstamp as traders assessed how the inflation backdrop could shape Federal Reserve expectations in the near term.

Key takeaways

Bitcoin surged on the back of a January CPI print that cooled beyond expectations, lifting BTC/USD toward the $69,000 level on Bitstamp and signaling renewed momentum in the short run.

Core CPI matched estimates at 2.5% while the overall CPI printed 2.4%, both softer than anticipated, fueling a broad risk-on swing across macro assets.

Market odds of aggressive Fed easing remained limited, with CME FedWatch showing slim chances of a rate cut at the March meeting, complicating the path for a sustained breakout.

Analysts highlighted a confluence of technical references around the 68,000–69,000 area, including the old 2021 all-time high and the 200-week EMA, as a potential higher-low anchor for BTC.

Gold climbed toward a symbolic milestone while the US dollar index attempted a recovery after the CPI release, underscoring a mixed but constructive macro backdrop for risk assets.

Tickers mentioned: $BTC

Sentiment: Bullish

Price impact: Positive. The CPI surprise propelled Bitcoin higher, with daily gains peaking near 4% and the price testing the $69,000 vicinity on major venues such as Bitstamp.

Market context: The inflation print fed into a broader narrative where macro assets showed a tempered response to cooling inflation, even as rate-cut expectations remained guarded and positioned around the mid-year horizon. Traders watched for durably slowing inflation signals to justify an acceleration in risk-taking, while acknowledging that policymakers may still stride cautiously given a resilient labor market and evolving growth dynamics.

Why it matters

The January CPI outcome reinforces a delicate balance in which inflation is trending lower, but policymakers are unlikely to rush the rate-cut cycle. The data echo a pattern observed in recent weeks: inflation metrics are trending toward multi-year lows, yet the Federal Reserve’s reaction function remains data-dependent. For BTC and the broader crypto market, softer inflation can translate into improved liquidity and a more forgiving risk environment, which historically tends to favor speculative assets and risk-sensitive sectors.

From a technical standpoint, traders are watching key price zones that have previously served as turning points. The 68,000–69,000 zone is notable because it intersects with the 2021 all-time high and the 200-week exponential moving average (EMA), a level analysts have cited as an anchor for potential higher-lows in the near term. Several market participants described BTC as consolidating in a potential falling-wedge pattern, a setup that could precede another leg higher if momentum builds. A recent update from a prominent trader noted that an initial breakout attempt at around the 68,000 level faced resistance, reinforcing the idea that the next meaningful move would likely be defined by how the market handles that zone.

Beyond BTC, macro gold also flirted with significant levels, highlighting a broader risk-on mood among non-crypto assets as the CPI narrative evolved. The U.S. dollar index found some footing after the initial CPI dip, a dynamic that can influence risk appetite across asset classes, including digital assets. In this environment, BTC’s performance could act as a barometer for market demand for risk assets and for investors seeking hedges or diversifiers amid evolving macro signals.

One notable thread in the commentary around the CPI release was the consideration of future Fed policy moves. While some market observers argued that a rate cut could become more plausible if inflation continues to ease, others cautioned that a single data print does not alter the central bank’s reaction function overnight. A widely cited dashboard showed that probability of a March rate cut remained in the minority, underscoring the challenge for crypto bulls to sustain a sustained breakout without clearer signs of easing monetary policy. In a related thread, a market observer referenced a lower-bound view on policy shifts, suggesting that the inflation trajectory would need to demonstrate sustained deceleration before a meaningful shift in rate expectations could be priced in. Investors also weighed a perspective opposing the surprise: that a temporary CPI softness might simply reflect statistical quirks rather than a durable downward trend.

For traders who have been watching the narrative unfold, the CPI surprise did not fully resolve the tug-of-war between risk-on optimism and the structural caution that has characterized crypto markets for much of the past year. While BTC’s intraday rally underscored renewed enthusiasm, many participants stressed that the long-term trajectory would hinge on the Fed’s path and on the sequencing of economic data in the coming weeks. A closing thought from a market commentator who tracks inflation data and policy expectations noted that, even with a favorable inflation print, the real test lies in whether inflation can stay on a downward trajectory long enough to alter policy expectations meaningfully.

The CPI data’s impact on the market narrative can be glimpsed through the lens of the related coverage around inflation dynamics and policy. For readers seeking concrete context, the CPI release is documented by the U.S. Bureau of Labor Statistics and the associated commentary on how core and headline readings evolved. The market’s reaction to the data is also shaped by how traders interpret the probability of future rate actions, as reflected in tools that gauge Fed expectations. Additionally, analysts cited external inflation trackers and independent assessments to illustrate the nuanced view of inflation risk in the current environment. For a broader sense of sentiment, the community’s discussions surrounding the CPI data and Fed policy provide a snapshot of how this turning point is perceived by traders and researchers alike, including conversations that reference alternative inflation metrics as a lens to evaluate CPI outcomes.

The narrative also includes perspectives from traders active in social channels, where analysts often cross-reference inflation data with on-chain signals and technical indicators. A notable thread tied to the CPI release highlighted the idea that the CPI decline, while supportive, is not a decisive turn; rather, it is part of a broader sequence that could unfold across the next several weeks as the market calibrates its expectations for policy, liquidity, and macro risk appetite. The ongoing dialogue among market participants underscores the importance of keeping a close watch on how the inflation data evolves and how policy guidance evolves in response, as those dynamics will continue to influence BTC’s trajectory and the crypto market more broadly.

For readers who want to explore the underlying data themselves, the CPI release and the market’s interpretation of it are widely covered in real-time feeds and official releases. The Bureau of Labor Statistics provides the primary figures, while market data platforms and analysis from research shops offer additional context on how these numbers translate into rate expectations, liquidity, and risk sentiment. In the eyes of many traders, the CPI print is less a singular event than a datapoint in an ongoing process—one that will shape the tempo and nature of crypto market movements in the weeks to come.

TradingView BTCUSD chart shows the intraday velocity, while the CPI context remains anchored by the U.S. CPI release from the Bureau of Labor Statistics. As a contemporaneous note, a widely circulated tweet from market analyst Andre Dragosch referenced Truflation’s sub-1% CPI readings as supporting evidence for a less aggressive inflation profile than some conventional measures imply. The exchange between traditional data and alternative inflation metrics continues to shape expectations around rate moves and cross-asset correlations.

In sum, the CPI surprise injected a tactical lift for Bitcoin, but the broader path remains a function of policy expectations, liquidity conditions, and the ongoing assessment of inflation trends. As the market digests the data, traders will be watching for a softening CPI to translate into a more explicit willingness to price in rate cuts—and with that, a more durable upside for BTC and the broader crypto complex.

Earlier coverage noted the delicate balance between momentum and resistance around the $68,000–$69,000 zone, a region that has historically defined the near-term tempo of BTC price action. The narrative continues to evolve as macro conditions, policy signals, and on-chain fundamentals interact in real time.

For additional context and data points discussed during the CPI reaction, see the related notes and coverage linked throughout this timeline, including references to the FedWatch tool and broader market commentary that has tracked the shifting probability of rate cuts in the March horizon.

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This article was originally published as Bitcoin Tops $69K as CPI Slows, Fed Rate-Cut Odds Stay Low on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Trei suspecți au fost capturați în Franța după un raport despre o intrare prin efracție având ca țintă un executiv senior de la Binance Franța, compania mamă confirmând că un angajat a fost victima. Incidentul s-a desfășurat în zona Val-de-Marne în jurul orei 7:00 CET, când intruși înarmați s-au infiltrat în apartament și au căutat informații care să conducă la șeful Binance Franța. Poliția a recuperat ulterior două dispozitive mobile în timp ce suspecții fugiseră. O tentativă separată de a pătrunde într-o a doua reședință în Hauts-de-Seine a avut loc la aproximativ două ore mai târziu, culminând cu arestări și recuperarea unei vehicul legat de caz. Binance a declarat că colaborează cu autoritățile și a intensificat măsurile de securitate pentru a proteja personalul și familiile în timpul unei investigații în curs.

A Virginia federal court handed a 20-year prison sentence to Ramil Ventura Palafox, the chief executive of Praetorian Group International (PGI), for leading a crypto investment scheme that prosecutors say defrauded tens of thousands of investors out of roughly $200 million. Court records describe a carefully orchestrated Ponzi scheme that promised daily returns of up to 3 percent from Bitcoin trading, only to funnel new money to earlier participants while fabricating apparent gains through an online portal.

Key takeaways

The judge sentenced PGI’s founder, 61-year-old Ramil Ventura Palafox, to 20 years in prison after convictions on wire fraud and money laundering charges tied to a $200 million crypto investment scam.

The scheme allegedly attracted more than $201 million from December 2019 to October 2021, including at least 8,198 Bitcoin (BTC) valued at about $171.5 million at the time; victims suffered losses of at least $62.7 million.

Regulators say PGI claimed to trade Bitcoin at scale and to generate steady daily profits, but prosecutors contended the trading activity could not support the promised returns.

Palafox allegedly used a multi-level marketing structure and paid referrals, while misrepresenting trading performance to lure new participants.

The case combines criminal action from the Department of Justice with civil action from the Securities and Exchange Commission, underscoring cross-border enforcement and ongoing scrutiny of crypto-related fraud.

Tickers mentioned: $BTC

Sentiment: Neutral

Market context: The sentencing arrives amid sustained regulatory focus on crypto investment platforms and crypto-enabled fraud. Authorities have signaled that the combination of alleged misrepresentation, aggressive fundraising, and the promise of consistent, high daily returns increases investor risk and elevates enforcement priorities. The case also reflects ongoing efforts to align crypto-related schemes with traditional securities and consumer-protection regimes, highlighting the challenges of policing cross-border online operations as crypto markets remain volatile and subject to rapid shifts in investor sentiment.

Why it matters

The PGI case illustrates how fraudsters continue to exploit the aura of professional crypto trading to attract money from retail investors. By presenting a façade of sophisticated AI-driven or large-scale Bitcoin trading, the scheme preyed on hopes of reliable, outsized returns and leveraged a multi-level referral structure to accelerate capital inflows. The financial footprint—tens of thousands of investors and hundreds of millions of dollars—shows the scale at which these operations can operate before regulators intervene.

From a regulatory perspective, the outcome reinforces the co-operation between criminal and civil agencies in tackling crypto-enabled fraud. The Department of Justice’s criminal case, paired with the SEC’s civil action filed later, demonstrates a multi-front approach to address both deception and improper fundraising in digital asset markets. The interplay between criminal penalties and potential restitution signals that victims may pursue recovery through court-administered processes, while enforcement actions may deter future misconduct by raising the stakes for misrepresentation and misappropriation of investor funds.

For investors and builders in the crypto space, the PGI case underscores a persistent risk layer: schemes can mimic legitimate trading operations, including claims of AI-powered platforms and guaranteed returns, even as real trading volumes and profits fail to materialize. Trust remains a critical asset in this industry, and cases like this one press the importance of due diligence, transparent performance reporting, and robust compliance programs for operators who manage other people’s money.

What to watch next

Restitution processes: Regulators have indicated that victims may be eligible for restitution; follow communications from the U.S. Attorney’s Office regarding claims submissions and timelines.

Civil case developments: The SEC’s civil complaint may yield further settlements or enforcement actions related to misrepresented trading activities and the claimed AI-driven platform.

Cross-border enforcement updates: The case’s international elements—such as activity in the United Kingdom and other jurisdictions—could prompt additional regulatory coordination and potential asset tracing outcomes.

Regulatory signaling: The convergence of criminal and civil actions in crypto fraud cases is likely to influence future policy discussions on crypto investment schemes, disclosure requirements, and investor protections.

Sources & verification

Department of Justice press release on the sentencing of Ramil Ventura Palafox for a $200 million crypto Ponzi scheme.

SEC civil complaint filed in April 2025 alleging misrepresentation of PGI’s trading activity and the use of new investor funds to pay earlier participants.

DOJ actions detailing charges in the Eastern District of Virginia and the cross-border enforcement that accompanied the case.

Information on the 2021 seizure of PGI’s website and related enforcement steps, indicating the global reach of the investigation.

Rewritten Article Body: Conviction underscores regulatory watch on crypto investment platforms

In a case that underscores the intensifying scrutiny of crypto-enabled investment fraud, a federal judge in Virginia handed down a 20-year prison sentence to Ramil Ventura Palafox, the founder and chief executive of Praetorian Group International (PGI). Prosecutors described the matter as a deliberate Ponzi scheme that lured tens of thousands of investors with promises of consistent daily gains from Bitcoin trading, a narrative that unfolds against a backdrop of growing regulatory focus on digital assets and investor protection.

According to the Department of Justice, the scheme operated between December 2019 and October 2021, drawing in more than $201 million from participants who believed they were backing a sophisticated trading enterprise. The government highlighted that the apparently robust performance—daily returns of up to 3 percent—was presented in a manner designed to reassure investors and sustain the inflow of new funds. Yet, prosecutors argued that the trading activity did not come close to supporting the promised returns, and that the apparent gains were often illusory, backed by funds from newer entrants rather than genuine profits.

The financial footprint of PGI’s operation was substantial. Investors poured in more than $201 million during the two-year window, and the case notes that at least 8,198 Bitcoin (CRYPTO: BTC) were involved in the scheme, with the digital asset valued at roughly $171.5 million at the time. Victims’ losses were estimated at no less than $62.7 million, a figure that illustrates the real-world harm that can accompany fraud in crypto markets. The court and prosecutors described a pattern in which new investor money was shuffled to pay earlier participants, a hallmark of Ponzi dynamics that undermines trust in similarly structured ventures.

Court filings depict a troubling panorama of misrepresentation and perceived legitimacy. Palafox allegedly oversaw an online portal that displayed steady gains, creating the illusion that accounts were compounding reliably. The operation reportedly relied on a multi-level marketing framework, with referral incentives designed to broaden the pool of participants. In parallel, the government contended that these promotional claims masked the absence of actual trading capacity to generate the claimed profits, allowing the scheme to sustain itself for a period before regulators began to unravel the web of financial red flags.

From a personal-finance perspective, the case paints a stark picture of resource misallocation. Authorities allege that Palafox diverted investor funds to support a lavish lifestyle, including millions spent on luxury vehicles and high-end real estate, as well as substantial expenditures on penthouse suites and other discretionary purchases. In a demonstration of cross-border reach, prosecutors noted transfers that included at least $800,000 and 100 Bitcoin moved to a family member, highlighting the opportunistic use of assets beyond the U.S. jurisdiction for personal enrichment.

The legal strategy behind the case extended beyond criminal charges. In a parallel civil action, the Securities and Exchange Commission filed a complaint in April 2025 accusing Palafox of misrepresenting PGI’s Bitcoin trading activity and using new investor money to compensate earlier participants. The SEC alleged that PGI promoted an AI-powered trading platform and guaranteed daily returns despite lacking a foundation in real trading operations capable of producing such profits. The dual track of enforcement—criminal and civil—emphasizes a broader regulatory intolerance for schemes that blur the lines between technology-driven finance and fraudulent conduct.

The trajectory of the case also reflects the cross-border enforcement environment facing crypto fraud. Regulators seized PGI’s website in 2021, signaling early steps toward dismantling the operation and tracing its financial flows beyond U.S. borders. Authorities later extended their scrutiny into the United Kingdom, where related operations were shuttered, illustrating the global dimension of crypto fraud investigations and the need for international cooperation in asset tracing and restitution efforts.

Victims remain at the center of the proceedings, with restitution potentially available through the U.S. Attorney’s Office process. While the criminal sentence serves as a punitive measure, the civil action and related enforcement signals are aimed at recovering assets and deterring similar misconduct in the crypto space. The case stands as a cautionary tale for investors and a reminder to operators that regulatory and judicial systems are increasingly attentive to the nuances of crypto-based investment promises and the risks of opaque performance reporting.

This article was originally published as Crypto CEO Sentenced to 20 Years in $200M Bitcoin Ponzi Scheme on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Boerse Stuttgart Group, operator of one of Europe’s largest stock exchanges, is pursuing a strategic consolidation of its regulated digital asset activities with Tradias, a Frankfurt-based crypto trading firm. The move aims to accelerate the group’s push into institutional crypto markets by combining Boerse Stuttgart Digital’s custody, brokerage and trading capabilities with Tradias’ execution and BaFin-licensed securities trading operations. The combined entity, still subject to regulatory approvals, would bring together roughly 300 employees under a unified management team. While formal financial terms were not disclosed in the initial announcement, Bloomberg reported that Tradias could be valued at about €200 million, with the merged group potentially exceeding €500 million in enterprise value. The deal underscores a broader shift toward regulated, institution-facing crypto infrastructure in Europe, aided by MiCA, the EU framework for crypto-assets.

The merger is framed as a natural evolution for Boerse Stuttgart’s regulated crypto unit, which has built out a comprehensive platform for trading, custody and tokenized assets in compliance with the Markets in Crypto-Assets Regulation (MiCA). The integration with Tradias is intended to extend the reach of this regulated backbone across Europe, enabling banks, brokers and other financial institutions to access a fully regulated crypto infrastructure under one umbrella. The announcement notes that the combined team will oversee services spanning brokerage, trading, custody, staking and tokenized assets, a suite designed to cover the entire value chain for institutional clients. In 2025, Boerse Stuttgart highlighted a surge in crypto trading volumes, signaling growing demand from institutions and an increasing contribution of digital assets to the group’s revenue. The leadership behind the merger expresses a bullish outlook on the sector’s trajectory and on the strategic advantages of scale in regulated markets.

The background of the deal includes Tradias’ status as a BaFin-licensed securities trading bank, a feature that aligns with Boerse Stuttgart Digital’s regulatory approach and its emphasis on a compliant crypto ecosystem. Tradias operates as the digital assets arm of Bankhaus Scheich, and its regulatory standing complements Boerse Stuttgart’s push to formalize a pan-European digital-asset platform capable of serving large-scale financial players. The two firms’ complementary strengths—Boerse Stuttgart Digital’s product suite and Tradias’ execution and licensing framework—are positioned to offer a more seamless, integrated experience for institutions seeking to deploy crypto strategies within established risk controls. As part of the strategic framing, Boerse Stuttgart Group chief executive Matthias Voelkel emphasized that the merger would drive consolidation and leadership across Europe’s crypto markets, noting that the combined entity would be better positioned to compete with other regulated platforms as institutional demand grows.

Within the discourse on regulated crypto markets, the deal sits at the intersection of technology, regulation and market structure. Boerse Stuttgart’s digital arm has been a steady contractor to the EU’s MiCA regime, providing trading, brokerage and custody services in line with the regulation’s requirements. The integration with Tradias is expected to accelerate the deployment of compliant crypto infrastructure at scale, potentially reducing the operational frictions that have long constrained institutional participation. The parties have kept financial terms private, but public signals about the valuation and scale of the combined group reinforce the sense that European players are wagering on a future where regulated, cross-border crypto services become a core element of traditional financial ecosystems.

“With the planned merger of Boerse Stuttgart Digital and Tradias, Boerse Stuttgart Group is driving the development and consolidation of the European crypto market,”

Voelkel’s remarks reflect a broader industry narrative in which established financial institutions seek to create end-to-end platforms that combine trading, custody and risk management for digital assets. The leadership of Tradias, led by founder Christopher Beck, has framed the merger as a step toward building a European champion with broader reach and deeper strategic capabilities. Beck stressed that the alliance would allow the two entities to cover the entire value chain for digital assets and to harness the strengths of both firms to accelerate market consolidation.

Beyond the immediate strategic benefits, the merger has implications for the European crypto ecosystem’s maturity. The combination of a regulated exchange operator and a BaFin-licensed securities trading bank is emblematic of a trend toward more integrated and regulated solutions, which could lower barriers to participation for banks and asset managers seeking regulated exposure to crypto markets. The regulatory backdrop—especially MiCA—will continue to shape how such entities structure their offerings, the kinds of products they can offer, and how they manage custody, staking and tokenized assets. In the context of 2025 regulatory developments, several commentators have highlighted how MiCA licensing frameworks may influence the design and distribution of crypto products, including the potential for more standardized governance and risk controls across borders. The ongoing shift toward regulated, institution-friendly models is consistent with the broader push to normalize crypto markets within mainstream financial systems.

Related: Denmark’s Danske Bank allows clients to buy Bitcoin and Ether ETPs

Tradias’ leadership has signaled that the merger would enable the two firms to expand their European footprint, leveraging their respective strengths to offer a more robust platform for institutional clients. Beck’s comments emphasize the goal of creating “a new European champion” with greater reach and operational depth that could accelerate consolidation in the sector. The strategic logic rests on combining Boerse Stuttgart Digital’s regulated product suite and custody capabilities with Tradias’ licensed market access and execution capabilities, potentially creating a more competitive, scalable and compliant ecosystem for digital-asset trading and custody across Europe.

The broader market context reinforces the strategic prudence of this move. The European crypto market has been evolving toward greater professionalization, with a growing emphasis on licensing, risk management and interoperability across borders. The MiCA framework is widely viewed as a driver of this shift, encouraging standardized practices and more predictable regulatory outcomes for participants. The proposed merger aligns with these dynamics, signaling a willingness among incumbents to invest in regulated infrastructures that can support institutional flows, wholesale trading and the custody of digital assets on a pan-European scale. The coming months will be crucial for the timeline and final terms, as regulatory approvals and integration milestones will determine how quickly the combined operation can begin delivering on its stated objectives.

Why it matters

The strategic union between Boerse Stuttgart Digital and Tradias could reshape how European institutions access crypto markets. By marrying regulated trading, custody and brokerage with a licensed execution platform, the merged entity could reduce the friction and compliance overhead that have historically limited institutional participation. This consolidation may also set a precedent for other European incumbents seeking to build comparable ecosystems, potentially accelerating the pace at which traditional financial services firms adopt and integrate digital-asset capabilities. The emphasis on tokenized assets and staking suggests a broader ambition to extend digital assets beyond simple trading to a more comprehensive asset-management framework that integrates with existing bank-grade risk controls.

From a user perspective, the deal promises continuity and scale. Banks and brokers seeking regulated access to crypto services could benefit from a more cohesive offering, including custody and settlement under a single governance framework. For digital-asset providers and fintechs, the merger highlights the value of partnerships with regulated institutions that can bridge retail and wholesale markets while maintaining high standards of compliance. The European landscape, long characterized by divergent national approaches, could gradually converge as more players align under MiCA-compliant models, reducing cross-border complexity and enabling more efficient capital deployment.

What to watch next

Regulatory approvals and the closing date of the merger, including any conditions placed by BaFin or other European authorities.

Integration milestones for Boerse Stuttgart Digital and Tradias, including the consolidation of tech platforms and onboarding of additional banks or brokers.

Rollout of expanded services, such as custody, staking and tokenized-assets offerings, to new European markets.

Any updates on the valuation, potential debt financing or equity arrangements tied to the transaction.

Sources & verification

Boerse Stuttgart Digital-Tradias merger press release (PDF): https://www.bsdigital.com/media/fucbehz4/20260213_en_boerse-stuttgart_digital_tradias.pdf

Bloomberg reporting on valuation: https://www.bloomberg.com/news/articles/2026-02-13/boerse-stuttgart-to-merge-crypto-arm-with-trading-firm-tradias

Tradias BaFin-licensed status: https://cointelegraph.com/news/tradias-bafin-license-expansion-2025

Markets in Crypto-Assets Regulation (MiCA) overview referenced in coverage: https://cointelegraph.com/learn/articles/markets-in-crypto-assets-regulation-mica

Boerse Stuttgart growth and revenue context: https://cointelegraph.com/news/bourse-stock-exchange-25-percent-revenue-rise-crypto

European consolidation of regulated crypto services: what the merger means

This article was originally published as Boerse Stuttgart Digital, Tradias Merge to Build European Crypto Hub on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

ETHZilla, a crypto treasury firm that began life as a biotech venture, is pressing further into tokenized real-world assets. In January it pivoted to build a portfolio around on-chain representations of non-digital assets, and this week it unveiled Eurus Aero Token I, a tradable stake secured by two jet engines leased to a major U.S. airline. The tokenization initiative is being launched under ETHZilla Aerospace, the company’s new subsidiary. Each token is priced at $100 with a minimum purchase of 10 tokens, and the issuer targets an 11% return over the life of the leases, which extend into 2028. Ether (CRYPTO: ETH) has been a central part of its treasury strategy in recent years.

Key takeaways

ETHZilla launches Eurus Aero Token I via ETHZilla Aerospace, with the asset backing provided by two commercial jet engines leased to a leading U.S. carrier.

The offering sets a $100 price per token and requires a minimum purchase of 10 tokens, aiming for an 11% return through the end of the current engine leases in 2028.

The move marks a formal shift from a pure crypto treasury model toward tokenizing real-world assets that generate contractual cash flows.

ETHZilla acquired the two jet engines for a combined $12.2 million in January, following the sale of part of its Ether treasury the prior year.

Executives say the program broadens access to fractional ownership and demonstrates how blockchain can convert traditional asset classes into on-chain, tradable securities.

Tickers mentioned: $ETH

Market context: On-chain tokenization of real-world assets (RWAs) has been gaining traction as crypto firms seek yield opportunities beyond token prices and volatility. The ETHZilla initiative arrives as RWAs continue to attract institutional interest and as the broader market observes how regulated, cash-flow–backed tokens perform relative to traditional securities and crypto-native instruments.

Why it matters

The ETHZilla pivot illustrates a broader industry trend: crypto treasury firms expanding beyond pure digital assets toward structured products that deliver visible, contractually backed revenue. By tying ownership of physical engines to a blockchain-based token, ETHZilla is testing whether on-chain instruments can offer predictable cash flows while preserving liquidity and transparency for investors. For a subset of crypto enthusiasts and accredited investors, this approach promises a familiar risk/return profile—income from lease payments—wrapped in a tokenized wrapper that can be traded or held alongside other digital assets.

Observers note that tokenized aviation assets combine visible, contractual cash flows with the efficiency and programmability of blockchain. The two jet engines underpin a stream of lease income that, in theory, may appeal to investors seeking exposure to high-value industrial assets without owning the aircraft outright. ETHZilla chairman and CEO McAndrew Rudisill framed the offering as a way to “expand investment access and modernize fractional asset ownership in markets that have historically been available only to institutional credit and private equity.” In his view, the use of a token backed by engines leased to a major airline serves as a compelling proof point for applying blockchain infrastructure to asset classes with global demand and predictable revenue streams.

The enterprise has a history that underscores its strategy: ETHZilla began life as a biotech venture before pivoting to Ether accumulation and tokenized assets. The company disclosed a substantial Ether stake in a Securities and Exchange Commission filing, reporting hundreds of millions of dollars in value at the time, and then redirected capital toward physical assets and on-chain structures. This history highlights both the volatility of crypto treasuries and the growing experimentation across the sector to convert traditional assets into liquid, traceable, on-chain instruments.

At the same time, the broader market environment remains a mixed backdrop for RWAs. Industry observers point to a rising footprint of tokenized assets on blockchain networks, alongside ongoing regulatory scrutiny and evolving frameworks that could shape who can issue such tokens and under what conditions. The RWA market, including tokenized debt, receivables, and asset-backed securities, has seen a surge of interest as institutions seek yield opportunities outside equity and crypto price movements. Data aggregators show that hundreds of thousands of holders participate in on-chain RWAs, with billions of dollars reportedly on-chain, underscoring the potential reach of asset-backed tokens beyond traditional finance.

ETHZilla’s execution also highlights the practical dynamics of tokenized asset bring-to-market: the engines were acquired for $12.2 million in January as part of the company’s broader shift away from a pure ETH-hold approach toward asset-backed, on-chain offerings. The venture has signaled that future token offerings could include other asset classes, such as home and car loans, suggesting a pipeline that blends tangible collateral with transparent, blockchain-native distribution mechanisms. Industry commentary has suggested that tokenized RWAs could gain momentum in 2026 as emerging markets adopt formalized structures for capital formation and foreign investment, though execution risks—valuation sensitivity, lease covenants, custody, and regulatory constraints—remain salient considerations for investors.

As the project unfolds, ETHZilla’s own treasury position provides context for the risk/reward calculus of tokenized assets. The company’s strategic reserve data and public disclosures show a balancing act between on-chain liquidity and the need to preserve exposure to Ether as a potential long-term stabilizer or growth asset. The tension between holding Ether and deploying capital into tokenized assets reflects a broader question in crypto governance: how to optimize treasury strategy when tokenized opportunities promise both diversification and yield, but hinge on real-world performance and contractual enforcement.

What to watch next

Progress reports on Eurus Aero Token I performance, including lease cash flows and any collateralization updates.

Additional asset classes targeted for tokenization by ETHZilla, particularly home and car loans, and the regulatory steps required for those offerings.

Updates on ETHZilla Aerospace’s corporate structure, future engine acquisitions, and potential partnerships with other airlines or service providers.

Regulatory developments affecting tokenized RWAs, including disclosures, custody standards, and compliance requirements for on-chain asset-backed instruments.

Sources & verification

ETHZilla announces first-ever tradable tokenized aviation assets on Ethereum network secured by jet engines on lease with a leading US air carrier — PR Newswire (link in original text).

ETHZilla disclosed its Ether holdings in an SEC filing, including the size and average acquisition price of its ETH stash.

ETHZilla’s jet engine acquisition: two engines purchased for a combined $12.2 million in January, per the article corpus.

Tokenization push and broader RWAs context: RWA.xyz data indicating billions on-chain and hundreds of thousands of holders.

Related coverage and background on ETHZilla’s pivot and industry expectations for 2026–2028, including on-chain RWA trends and associated market commentary.

Market reaction and key details

The Eurus Aero Token I offering marks a notable step in the gradual convergence of aviation assets and blockchain technology. By attaching a direct business asset—two jet engines—to a tradable on-chain instrument, ETHZilla is testing whether the promise of liquidity, fractional ownership, and transparent revenue streams can coexist with the complexities of lease contracts, depreciation, maintenance reserves, and counterparties. If the structure proves resilient, it could pave the way for a broader ecosystem of asset-backed tokens tied to physical capital across sectors with robust cash flows and global demand.

Key figures and next steps

ETHZilla’s strategy hinges on converting contractual cash flows into liquid, on-chain instruments that investors can access with relative ease. The initial offering, priced at $100 per token and requiring a minimum purchase of 10 tokens, presents an explicit yield target of 11% over the lease horizon through 2028. The engines’ lease arrangement, the counterparty credit quality, and the ongoing maintenance and insurance terms will be critical inputs to the project’s actual performance and the token’s market acceptance. As the industry watches, ETHZilla’s next moves—whether it expands into additional asset classes or scales the aviation example—will be a bellwether for the broader viability of tokenized RWAs in a diversified crypto treasury framework.

What to verify

Readers can corroborate details in ETHZilla’s official disclosures and the referenced press materials, including the terms of the Eurus Aero Token I offering, the January engine purchase, and the SEC filing documenting the company’s Ether holdings. Market data from RWA.xyz and CoinGecko provides a snapshot of on-chain asset trends and the scale of the RWAs ecosystem. Additionally, primary sources such as the PR Newswire release and ETHZilla’s public statements offer direct insights into strategy and execution milestones.

This article was originally published as ETHZilla Unveils Jet Engine Leases-Backed Token in Tokenization Pivot on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Chainalysis has released a detailed assessment showing a notable uptick in crypto flows tied to suspected human trafficking networks, with an 85% rise in 2025 and transaction volumes reaching hundreds of millions of dollars across identified services. The report highlights networks largely rooted in Southeast Asia and intertwined with scam compounds, online casinos, and Chinese-language money-laundering rings that have gained momentum as crypto adoption broadens. Notably, the study emphasizes that the choice of asset varies by service, with some operators leaning on stablecoins for cross-border payments. While the numbers are concerning, Chainalysis argues that the transparency of blockchains also creates actionable choke points for enforcement.

Among the opaque channels identified are Telegram-based services that facilitate international escorts, labor-placement schemes that allegedly coerce victims into work at scam compounds, prostitution networks, and vendors distributing material related to child sexual abuse. The research underscores that, in practice, payment methods diverge across illicit networks: international escort services and prostitution networks have shown a pronounced reliance on stablecoins, while other segments employ a broader mix of on- and off-ramp techniques. The report’s granular look at asset-type inflows and wallet behavior aims to give investigators and compliance teams new signals to pursue.

Chainalysis stresses that blockchain’s traceability can be a powerful tool for law enforcement. By identifying transaction patterns, monitoring compliance at exchanges, and pinpointing chokepoints in the ecosystem, authorities can disrupt bad actors in ways that cash or traditional remittance systems cannot. This is particularly relevant as illicit online marketplaces and money-laundering networks continue to adapt to shifting regulatory landscapes and evolving crypto offerings. The report also points readers to related work on the broader crypto-laundering landscape and how on-chain analytics are changing the enforcement playbook.

As a case in point, the firm notes several enforcement successes last year, including German authorities dismantling a child sexual exploitation platform, an operation that Chainalysis said was aided by blockchain analysis. The finding illustrates how coordinated usage of on-chain data can assist in tracing the flow of funds across multiple layers of a criminal network, from on-ramps to marketplaces to end-services. Chainalysis also emphasizes the need for ongoing vigilance by compliance teams and law enforcement to monitor for patterns such as high-frequency transfers to labor-placement entities, wallet clusters that operate across multiple illicit categories, and stablecoin conversion activity that appears routine rather than incidental.

Key takeaways

2025 crypto flows to suspected human trafficking networks surged by 85%, with total transaction volume reaching hundreds of millions of dollars across identified services.

Southeast Asia emerges as a central hub for these networks, which are tied to scam compounds, online casinos, and Chinese-language money-laundering networks.

Seemingly disparate services—Telegram-based international escorts, labor-placement agents, prostitution networks, and vendors supplying illicit content—rely on a mix of assets, with stablecoins favored for cross-border payments in several cases.

Blockchain’s transparency is framed as a diagnostic and disruption tool: it can reveal transaction patterns, flag large or anomalous activity, and help block or slow illicit flows at exchanges and at online marketplaces.

Law enforcement achievements, such as the German takedown of a child exploitation platform aided by blockchain forensics, demonstrate the practical leverage of on-chain analytics in complex investigations.

The report calls for heightened monitoring by compliance teams—watching for regular, large-payments to labor-placement services, wallet clusters spanning illicit categories, and recurring stablecoin conversions—as part of a broader AML framework.

Market context: The findings sit against a backdrop of growing regulatory interest in on-chain analytics, the expanding use of stablecoins, and ongoing scrutiny of cross-border crypto payments. As governments and financial institutions seek robust AML controls, analytics firms and exchanges are increasingly integrating sophisticated tracing tools to deter illicit finance while balancing user privacy and legitimate use cases. The evolving regulatory environment underscores the value—and the limits—of blockchain transparency in addressing criminal finance without stifling legitimate innovation.

Why it matters

The report illustrates a fundamental tension in the crypto economy: the same technologies that enable rapid, borderless financial activity can also facilitate harm if left unchecked. For users and investors, the message is clear—transparency tools are becoming a standard part of risk assessment, and due diligence now increasingly hinges on on-chain behaviors and counterparties. For builders and product teams, the emphasis on compliance signals a growing demand for wallet- and exchange-level controls, better KYC/AML workflows, and clearer disclosures around illicit-risk indicators.

For policymakers, the analysis reinforces the need for clear guidelines on stablecoins and cross-border settlements, as these instruments appear in multiple illicit-use cases. The data also supports continued investment in cross-agency cooperation and international information sharing, given that many of these networks operate across different jurisdictions and platforms. At a technical level, the findings encourage further development of attribution methodologies that preserve user privacy while enabling lawful investigators to trace criminal flows. In short, the study adds to a growing body of evidence that on-chain data can augment traditional investigative methods, but it must be integrated within a broader, well-governed framework.

For the broader crypto ecosystem, the emphasis on chokepoints and wallet clusters highlights practical avenues for disruption: exchanges can improve real-time monitoring, on-chain analytics can be used to flag risky counterparties, and marketplaces can adopt stricter seller verification and payment-processing controls. The convergence of enforcement and technology is likely to shape how illicit activity is funded and how quickly it can be identified and neutralized, potentially reducing the latency between crime and detection in a space historically challenged by anonymity and speed.

What to watch next

Follow-up updates from Chainalysis on 2026 data and trend analysis, including any revisions to the 2025 figures.

Regulatory actions targeting stablecoins and cross-border crypto payments, particularly in Southeast Asia and Europe.

Adoption of enhanced AML controls by exchanges and online marketplaces in response to on-chain‑driven findings.

Investigations and public disclosures related to large wallet clusters that span multiple illicit services or jurisdictions.

Further enforcement actions demonstrated or inspired by blockchain-forensic capabilities, such as high-profile takedowns and asset-tracing successes.

Sources & verification

Chainalysis blog post: crypto-human-trafficking-2026

Crypto-launderers turning away from centralized exchanges: Chainalysis coverage

Blockchain forensics and asset tracking explainer

Related investigative reporting on enforcement actions and policy context

Blockchain visibility and illicit finance: what the findings imply

Chainalysis’s report underscores how on-chain visibility can illuminate the pathways by which crypto assets are moved to support trafficking and exploitation. By charting flows into labor-placement operations, escort services, and adult services that rely on cross-border payments, investigators can identify recurring patterns that mark a network’s lifecycle—from onboarding to monetization. The emphasis on stablecoins in particular reflects how certain assets are chosen to minimize friction across borders, optimize settlement times, and obscure the origin and destination of funds in less-regulated corridors.

Yet the study also warns against overreliance on any single signal. Illicit actors adapt, and the same tools that reveal patterns can be misapplied if not paired with traditional investigative methods and robust governance. The combination of blockchain analytics with proactive compliance, inter-agency collaboration, and targeted enforcement represents a pragmatic approach to mitigating on-chain risks without dampening legitimate innovation in the crypto economy.

This article was originally published as Crypto Used by Trafficking Networks Surged in 2025, Chainalysis Finds on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitcoin has struggled to stay above the $72,000 mark over the past week, as traders weigh whether a renewed institutional bid is at hand or merely a temporary pause in a broader risk-off cycle. While price action remains choppy, a dramatic shift sits in the derivatives market: aggregate open interest on Bitcoin futures fell to $34 billion in USD terms—the lowest level in months and the steepest decline since November 2024. Yet when measured in BTC, open interest sits around 502,450 BTC, suggesting that the appetite for leverage hasn’t collapsed and that the unwind is not uniform across asset denominations. Over the past two weeks, forced liquidations totaled about $5.2 billion, underscoring the fragility of long bets in a mood of caution and uncertainty.

Key takeaways

BTC futures open interest dropped to $34 billion, a 28% decline from 30 days earlier; BTC-denominated open interest remains roughly flat at BTC 502,450, implying ongoing leverage demand despite lower USD exposure.

Bearish leverage signals surfaced as risk appetite cooled: forced liquidations of roughly $5.2 billion in the last two weeks point to sustained volatility and risk management pressure.

Weak US job data fed concerns about the macro backdrop: the US Labor Department reported 181,000 jobs added in 2025, a number seen as soft against expectations, while gold reclaimed the $5,000 level and equities sit near highs, complicating the narrative for Bitcoin.

Bitcoin options markets flashed caution: the 30-day delta skew for BTC jumped to about 22%, with put options trading at a premium, signaling a clear tilt toward downside hedging among professional traders.

On the demand side, Bitcoin ETFs continued to trade thousands of BTC daily, with roughly $5.4 billion of average daily volume across US-listed funds, underscoring that institutional interest remains visible even amid uncertainty.

Bitcoin (BTC) has faced repeated hesitations around the $72,000 level as investors await clearer catalysts from the macro environment. The sheer contrast between price stability in select risk assets—gold rebounding past the $5,000 threshold and the S&P 500 hovering near record territory—and the weakness seen in BTC’s derivatives environment has intensified questions about whether Bitcoin is decoupling from traditional markets or simply pausing before the next leg of a broader risk-off cycle. The immediate concern is whether weak job data will push the Federal Reserve toward earlier or more aggressive easing, which would, in turn, influence capital flows across risk assets, including cryptocurrencies.

The data on open interest paints a nuanced picture. While USD-denominated OI has slid, the BTC-denominated measure suggests that market participants still seek leverage, albeit with tighter risk controls. Some traders attribute part of the USD OI decline to liquidations that amplified through the market in recent weeks, highlighting a landscape where risk management tools are actively trimming exposure. The tension between a calmer price backdrop and a more defensive sentiment in the derivatives space underscores the complexity of the current setup for Bitcoin.

In the background, the labor market remains a critical flashpoint. The US Labor Department’s latest weekly data indicated softer payroll growth, with an uptick in initial claims not far from pandemic-era levels of uncertainty. While the White House has argued that immigration policy has reduced the number of job openings the economy needs to fill, the broader narrative remains that slower growth could push the Fed toward rate cuts sooner than anticipated. This potential for looser financial conditions could, in theory, be supportive for risk assets, including Bitcoin, but the actual market reaction has been restrained and uneven across sectors.

From a historical perspective, the market’s sensitivity to macro indicators is not new for Bitcoin. The 52% drawdown seen in March 2020 occurred amid a broad global shock to economic activity and a surge in uncertainty, and the subsequent policy response helped restore liquidity and drive a notable risk-on phase. Today’s environment—where equities have held near highs while volatility remains elevated—presents a similar but more nuanced backdrop. If growth risks intensify and the Fed signals an accommodative stance ahead of expectations, the cost of capital for both companies and consumers could ease, potentially raising the odds of a renewed appetite for riskier assets, including BTC. The current mix suggests that traders are weighing both macro signals and on-chain indicators as they look for directional clarity.

The options market paints a more conservative picture than equity traders might prefer. The BTC options delta skew at Deribit climbed to approximately 22% on Thursday, indicating that put options are trading at a premium. Historically, a skew in that range signals a protective stance among market participants and a greater reluctance to embrace upside risk without sufficient hedges. By contrast, the lack of a clear appetite for bullish leverage reinforces the sense that the market remains vulnerable to negative catalysts, even as some investors watch for reasons to re-engage with long positions.

Another critical data point is the appetite for exchange-traded products tied to Bitcoin. Despite the volatility signals from the futures market, US-listed Bitcoin ETFs have maintained solid daily volumes, averaging around $5.4 billion. This level of activity suggests that institutional demand has not dried up, even if price action and the structure of the futures market reflect a more cautious stance. The divergence between robust ETF trading and weaker leverage indicators highlights the complexity of the current market regime and the difficulty of predicting the next major inflection point for Bitcoin.

In sum, the market’s current stance combines a cautious, risk-off tilt with ongoing, albeit selective, institutional participation. The near-term trajectory of Bitcoin will likely hinge on evolving macro data—particularly the pace of payroll growth and inflation trends—and how effectively the Fed communicates its policy path. Traders who expect a rapid reacceleration in risk appetite may face headwinds if macro data disappoints further, while any shift toward clearer economic strength or dovish policy cues could catalyze a re-pricing in both equities and crypto.

Why it matters

The divergence between price performance and leverage demand is a meaningful signal for market participants. If Bitcoin can sustain a movement higher with steady or improving leverage demand, it could point to renewed institutional confidence and a potential re-rating of BTC as a risk-on asset, especially if macro conditions align with looser financial conditions. Conversely, persistent weakness in the labor market and a cautious options market could keep downside risk elevated, making downside hedges a persistent theme for professional traders. For developers and ecosystem participants, the current climate emphasizes the need for robust risk management tools, clearer on-chain signals, and improved liquidity infrastructure to withstand a more volatile macro backdrop.

For traders and investors, the key takeaway is to monitor the interaction between macro signals and market microstructure. The presence of solid ETF trading volumes indicates that institutions remain engaged, even as futures markets signal caution. This dynamic could lengthen the time needed for a decisive breakout, suggesting a period of range-bound activity with sharp snaps if new data or policy developments shift sentiment abruptly.

What to watch next

Upcoming US payroll data releases and inflation metrics that could alter rate-hike expectations and liquidity dynamics.

Comments from Federal Reserve officials or changes in policy guidance that might signal a shift in monetary conditions.

Changes in BTC futures open interest and funding rates across major platforms, to assess whether leverage appetite is re-emerging or remaining subdued.

Bitcoin ETF flow developments and any notable shifts in daily volumes that could indicate persistent institutional involvement.

Derivatives metrics, including delta skew and implied volatility, to detect evolving risk sentiment among professional traders.

Sources & verification

Open interest and price data for BTC futures from CoinGlass.

BTC annualized funding rate data from Laevitas.ch.

Deribit 30-day options delta skew (via Laevitas) showing a 22% premium to puts.

US job data from the US Labor Department; payroll figures referenced in the article.

US policy and immigration-related labor discussions as reported by BBC.

Bitcoin leverage signals and macro cues

Bitcoin (CRYPTO: BTC) has faced a careful balance between resilience in some sectors of the market and caution in others. The latest readings show a split:USD-denominated open interest has retreated, while BTC-denominated exposure remains comparatively steady, underscoring ongoing demand for leverage even as risk sentiment throughout broader markets has cooled. The pullback in futures open interest comes amid a backdrop of soft payroll data and a policy backdrop that could tilt toward looser financial conditions if growth falters. In this environment, the direction for Bitcoin will hinge on whether macro developments translate into clearer catalysts for risk-taking or a renewed risk-off impulse that drives profits to the sidelines. The dynamic illustrates why traders are paying close attention to how traditional markets behave in response to economic data, and why the crypto market remains highly sensitive to liquidity and risk sentiment changes.

Market participants should note that ETF volumes remain a meaningful barometer of institutional involvement. While futures markets may show caution, the sustained level of average daily trading in Bitcoin-linked ETFs points to a persistent base of liquidity and a willingness among large players to maintain exposure. This dichotomy—between derivatives signals and ETFs activity—helps explain why Bitcoin’s near-term path remains uncertain, with potential for both pullbacks and selective strength depending on how macro data evolves and how policy expectations shift in response.

This article was originally published as Bitcoin Open Interest at 2024 Lows: Is TradFi Abandoning BTC? on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitcoin a fost supus unei presiuni de vânzare reînnoite joi, deoarece prețul s-a retras de la un maxim intraday de aproximativ 68,300 dolari. Observațiile on-chain indică o capitulare continuă, cu deținătorii pe termen lung reducând expunerea și un amestec larg de lichidări de leverage alimentând slăbiciunea. Mai mulți analiști susțin că ciclul actual ar putea vedea BTC atingând minimul la sfârșitul anului 2026, după o fază descendentă prelungită care a tras activul de la vârful său din 2025 într-un mod care nu a fost văzut de la piețele bear anterioare.

Punctele cheie

Indicatorii on-chain indică o capitulare profundă, cu riscuri de scădere persistente pe măsură ce deținatorii pe termen lung își ajustează pozițiile.

Investitorii s-au confruntat cu un trimestru sobru, deoarece Coinbase a raportat o pierdere netă pentru T4 2025, întrerupând o serie de opt trimestre de profitabilitate pe măsură ce piața cripto s-a răcit. Compania a raportat câștiguri pe acțiune de 66 de cenți, ratând consensul de 92 de cenți, în timp ce venitul a scăzut cu 21,5% comparativ cu anul anterior, ajungând la 1,78 miliarde de dolari. Un mix de venituri mixt a subliniat schimbarea din afacere: veniturile legate de tranzacții au scăzut brusc, în timp ce subscripțiile și serviciile au avansat, evidențiind o traiectorie bifurcată a câștigurilor într-un ecosistem cripto mai strâns. Trimestrul a sosit pe fondul unei retrageri mai ample a prețului cripto, cu Bitcoin (CRYPTO: BTC) suportând o presiune semnificativă pe parcursul perioadei și până la sfârșitul anului.

Decibel Foundation is moving to embed an on-chain stablecoin into its Aptos-native derivatives ecosystem. The protocol-native token, USDCBL, issued by Bridge, is set to back on-chain perpetual futures trading as Decibel gears up for its February mainnet launch. The dollar-denominated asset is designed to internalize reserve economics, reducing dependence on third-party stablecoin issuers and giving the protocol more control over collateral dynamics. Decibel, incubated by Aptos Labs, plans to debut in February with a fully on-chain perpetual futures venue that relies on a single cross-margin account. The platform’s December testnet reportedly attracted more than 650,000 unique accounts and exceeded 1 million daily trades, figures that have yet to be independently verified.

Key takeaways

Decibel will launch a protocol-native stablecoin, USDCBL, issued via Bridge’s Open Issuance platform, ahead of its Aptos-based perpetual futures exchange mainnet.

USDCBL reserves will be backed by a mix of cash and short-term U.S. Treasuries, with yield retained within the protocol to support on-chain economics.

Onboarding flow converts deposits of USDC into USDCBL, enabling on-chain collateral for perpetual futures and reducing reliance on external stablecoin issuers.

The project emphasizes that USDCBL is infrastructure for the exchange rather than a standalone retail token, signaling a broader push toward ecosystem-native stablecoins.

The announcement situates Decibel within a wider trend toward native stablecoins across crypto and traditional finance, with examples like Hyperliquid’s USDH and institutional tokens from JPMorgan and PayPal.

Bridge’s Open Issuance ties Decibel to a broader stablecoin issuance framework, underscored by Bridge’s acquisition by Stripe in late 2025.

Sentiment: Neutral

Market context: The emergence of ecosystem-native dollar tokens across crypto platforms and traditional finance mirrors a broader move toward internalized collateral and on-chain settlement. The trend includes initiatives such as Hyperliquid’s native stablecoin USDH, JPMorgan’s tokenized deposits with JPM Coin, and PayPal’s PYUSD, all highlighting a shift toward dollars inside networks rather than relying solely on external issuers. The regulatory environment is also evolving, with proposals for stablecoin licensing and oversight under consideration in the United States.

Why it matters

The Decibel initiative marks a meaningful shift in how on-chain derivatives ecosystems anchor liquidity and risk management. By issuing USDCBL through Bridge’s Open Issuance platform, the project creates a fully collateralized stablecoin designed to live entirely within the protocol’s rails. The approach aims to reduce counterparty risk and minimize dependence on third-party stablecoin issuers, potentially lowering external liquidity constraints for the exchange’s perpetual futures venue.

From a tech perspective, a cross-margin architecture on a fully on-chain perpetuals venue can streamline settlement and collateral management. The onboarding flow—deposit USDC and convert to USDCBL— ties user funds to a native collateral pool that is governed by on-chain rules and reserves that are auditable in real time. The reserve model anchors value in a mix of cash and short-term U.S. Treasuries, with yield returned to the protocol rather than shared with external issuers or custodians. That design could improve capital efficiency and enable more aggressive reinvestment into ecosystem development and product enhancements, provided risk controls remain robust.

Market observers note that the broader push toward ecosystem-native stablecoins is not limited to crypto-native platforms. In parallel, traditional financial players are deploying tokenized dollar instruments within their networks to support real-time settlements and liquidity optimization. The PayPal PYUSD program and JPM Coin’s deployment for institutional settlement illustrate how “inside-network” dollars can reshape flow dynamics across both crypto and conventional finance. In the case of PayPal, for example, a 2025 rewards program tied to PYUSD holdings further integrates the stablecoin into consumer and merchant ecosystems, signaling how stablecoins can extend beyond trading into everyday payments and incentives.

Hyperliquid’s USDH example underscores the potential of native stablecoins to serve as platform-wide collateral. USDH is minted on the platform’s HyperEVM layer and is designed to act as collateral across the exchange, aiming to reduce reliance on off-platform issuers. This demonstrates a broader appetite among developers to align stablecoins with the specific risk profiles and liquidity needs of their ecosystems, rather than “one-size-fits-all” stablecoins that depend on external issuers.

As the ecosystem experiments with native stablecoins, the role of issuance infrastructure becomes another critical variable. Bridge’s Open Issuance framework enables projects to create regulated, fully collateralized stablecoins with integrated on- and off-ramps, linking on-chain finance more tightly to real-world assets. Bridge’s acquisition by Stripe in late 2025 highlights how stablecoin tooling is increasingly intertwined with mainstream fintech infrastructure, potentially accelerating adoption and interoperability across networks.

In short, Decibel’s USDCBL blueprint reflects a broader thesis: native stablecoins embedded within a platform’s governance and risk framework can improve liquidity, reduce external dependencies, and enable more sustainable funding for ecosystem development. Whether such models gain traction will depend on risk controls, regulatory clarity, and the ability of on-chain venues to demonstrate durable, auditable reserve management while delivering reliable user experiences.

What to watch next

February mainnet launch of the Aptos-based perpetual futures exchange and the onboarding flow for USDCBL.

Details on reserve composition, collateralization ratios, and on-chain governance updates tied to USDCBL and Bridge’s issuance framework.

Regulatory developments around stablecoin licensing and compliant issuance pathways, including mentions of licensing proposals in the U.S. context.

User adoption metrics from the testnet and early mainnet phases, including net deposits into USDCBL and cross-margin activity.

Sources & verification

Decibel Foundation’s announcement about USDCBL and its use as collateral for on-chain perpetual futures.

Decibel’s X post detailing reserve backing and income retention within the protocol.

Bridge’s Open Issuance platform and its role in issuing regulated, fully collateralized stablecoins; Bridge’s 2025 Stripe acquisition.

December testnet performance metrics (650,000+ unique accounts; 1,000,000+ daily trades).

Comparative examples of ecosystem-native stablecoins, including Hyperliquid’s USDH, JPM Coin, and PayPal’s PYUSD.

Decibel’s on-chain stablecoin aims to underpin Aptos perpetuals

The Decibel Foundation’s plan centers on USDCBL, a protocol-native stablecoin issued by Bridge, designed to operate as collateral for on-chain perpetual futures on Decibel’s upcoming Aptos-based exchange. Depositors will convert USDC (CRYPTO: USDC) into USDCBL (CRYPTO: USDCBL) as part of the onboarding flow, with USDCBL issued via Bridge’s Open Issuance platform. The intention is to create a fully collateralized, internal reserve mechanism that reduces exposure to external stablecoin issuers while maintaining familiar price stability for traders. Bridge, which had been acquired by Stripe in late 2025, serves as the issuance backbone for USDCBL, aiming to deliver a seamless on-ramp and off-ramp experience for users across the ecosystem.

At launch, the exchange will feature a single cross-margin account for on-chain perpetual futures, simplifying risk management for users who hold USDCBL as collateral. The December testnet reportedly attracted hundreds of thousands of users and a high level of trading activity, underscoring pent-up demand for on-chain derivatives experiences on Aptos. However, as with many new testnet figures, independent verification remains pending, so market participants will be watching the February mainnet rollout closely to assess real-world engagement and liquidity.

USDCBL reserves are described as a mix of cash and short-term U.S. Treasuries, with yield generated by those assets retained within the protocol. This approach could reduce the need to rely on trading fees or token incentives as primary revenue streams, freeing capital to be reinvested into ecosystem development and product enhancements. The foundation emphasized that USDCBL is not merely another stablecoin; rather, it is “core exchange infrastructure” intended to support the mechanics of a fully on-chain venue rather than serve as a broad retail token. This framing reflects a design choice that prioritizes platform integrity and reliability over standalone consumer use cases.

In the broader context, Decibel’s move sits alongside a wave of native-stablecoin experiments across both crypto-native projects and traditional financial institutions. Hyperliquid’s USDH, minted on the platform’s HyperEVM, illustrates how a platform-specific token can function across an exchange’s liquidity and collateral framework. The inclusion of widely discussed developments like JPM Coin (institutional tokenization for settlement) and PYUSD (PayPal’s dollar-backed token integrated into its payments network) further demonstrates the industry’s interest in dollars entrenched within networks rather than external issuers alone. Taken together, these examples depict a landscape where stablecoins are increasingly tailored to the governance and risk profiles of individual ecosystems, rather than deployed as generic, market-wide instruments.

This article was originally published as Aptos-Incubated Decibel Launch Protocol-Native Stablecoin Pre-Mainnet on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

BitGo Holdings and 21Shares have broadened their alliance to extend custody and staking services for 21Shares’ U.S. exchange-traded funds and global exchange-traded products. The expanded deal will see BitGo provide qualified custody, trading and execution capabilities, and a unified staking infrastructure for 21Shares’ US-listed ETFs and international ETPs. The press release notes that this arrangement gives 21Shares enhanced access to liquidity across electronic and over-the-counter markets as part of a broader strategy to scale regulated crypto yield solutions for institutional investors. The partnership is anchored in BitGo’s regulated framework in the United States and Europe, leveraging its OCC-regulated federally chartered trust bank and MiCA-licensed European operations. Announcement.

21Shares is a major crypto ETF issuer, with an established footprint across 13 exchanges and 59 listed products, supported by more than $5.4 billion in assets under management as of Feb. 11, according to its public materials. The collaboration follows BitGo’s own foray into the public markets earlier in the year, when the Palo Alto-based infrastructure provider began trading on the New York Stock Exchange under the ticker BTGO.

In recent months, custodial and staking services have become increasingly entwined as institutions seek yield-generating crypto infrastructure within regulated wrappers. The new BitGo–21Shares framework exemplifies this shift, allowing traditional and alternative asset managers to offer staking yields while maintaining compliant custody—an arrangement that can streamline onboarding for large-scale investors who require robust risk controls and auditability. The broader ecosystem has seen a spate of partnerships and integrations aimed at embedding staking deeper into regulated product lines, a trend that has accelerated as more institutions seek regulated exposure to proof-of-stake ecosystems.

Among the notable examples cited in the ecosystem: a Coinbase–Figment collaboration that broadened institutional staking for assets including Avalanche (AVAX), Aptos (APT), Sui (SUI) and Solana (SOL) through Coinbase Custody. Separately, Anchorage Digital partnered with Figment to extend staking for Hyperliquid (HYPE), integrating these services via its banking and custody infrastructure. Ripple has also expanded its institutional custody stack with integrations that add hardware security module support to enable banks and custodians to offer custody and staking without building their own validator or key-management systems.

Beyond staking, the sector is witnessing growing interest in liquid staking—an approach that lets investors earn staking rewards while retaining a tradable token that preserves liquidity. Regulators in certain jurisdictions have signaled tolerance for specific liquid-staking activities, reinforcing the push toward regulated, yield-bearing structures. In another development, Hex Trust announced a collaboration with the Jito Foundation to integrate JitoSOL, a liquid staking token on the Solana blockchain, enabling clients to earn staking and MEV rewards while keeping SOL liquid for use as collateral in borrowing and lending through its Markets platform. These moves collectively illustrate how custody providers are layering staking liquidity into regulated product lines to satisfy investor demand for yield without compromising risk controls.

In this evolving landscape, the BitGo–21Shares partnership stands out for its scope and regulatory alignment. By combining BitGo’s OCC-regulated custody framework with MiCA-licensed European operations, the alliance aims to unlock scalable staking and liquidity across major markets for a broad set of products, including US-listed ETFs and international ETPs. The collaboration signals a maturation in the ecosystem, where product issuers can offer regulated staking while maintaining robust custody and market access—an arrangement that may help attract institutions that previously shied away from crypto exposure due to compliance and operational concerns. For readers seeking a deeper dive into the breadth of the collaboration, a related press release details the global ETF-partnership expansion across staking and custody, highlighting the operational pathways BitGo will provide for 21Shares’ product lineup.

Video and media discussions surrounding the partnership can be explored through a related presentation linked to the announcement.

Market participants should watch how the integration affects liquidity profiles and trading costs for 21Shares’ ETF roster, as well as how it influences the pace at which other ETF issuers consider similar custody-and-staking models. The collaboration may also influence how global regulators view regulated staking within ETF wrappers, particularly as MiCA implementations take fuller effect across Europe and as U.S. authorities continue to refine guidelines for crypto custody and staking activities.

Key takeaways

BitGo will deliver qualified custody, trading and execution services, plus integrated staking infrastructure for 21Shares’ US ETFs and global ETPs.

The services will be provided through BitGo’s regulated entities in the US and Europe, leveraging an OCC-regulated trust bank and MiCA-licensed operations.

21Shares’ product slate includes 59 ETPs listed across 13 exchanges, with more than $5.4 billion in assets under management as of Feb. 11.

The move aligns with a broader institutional push to embed staking within regulated custody offerings, following similar partnerships and integrations across the sector.

The deal underscores BitGo’s ongoing expansion into ETF and regulated markets after its BTGO listing on the NYSE earlier this year.

Tickers mentioned: $BTGO, $AVAX, $APT, $SUI, $SOL

Market context: The collaboration arrives amid growing institutional interest in regulated staking and custody-enabled yield strategies, supported by clearer regulatory frameworks in the U.S. and Europe and expanding ETF liquidity across crypto assets.

Why it matters

The partnership between BitGo and 21Shares represents a meaningful step in bringing regulated staking and custody to a broader class of institutional investors. By coupling BitGo’s OCC-chartered custody capabilities with 21Shares’ diversified ETF lineup, the arrangement reduces operational friction for asset managers seeking compliant exposure to proof-of-stake ecosystems. This is particularly relevant as the crypto industry pushes toward scalable yield opportunities within regulated wrappers, a dynamic that could accelerate the adoption of staking across traditional finance channels.

For 21Shares, the deal broadens access to liquidity and trading venues for its US-listed ETFs and global ETPs. As the ETF issuer continues to grow—reporting 59 products and substantial AUM—partnerships like this can help sustain product velocity, improve execution quality, and offer investors more reliable ways to participate in staking rewards without directly managing keys or validator infrastructure.

From a regulatory perspective, the alignment with an OCC-regulated entity in the United States and MiCA-licensed operations in Europe signals a mature model for regulated crypto infrastructure. If these structures gain broader acceptance, more issuers may pursue similar multi-jurisdictional approaches, further integrating staking into mainstream investment products. In a market that remains sensitive to liquidity, risk controls, and operational risk, such collaborations could contribute to steadier capital inflows and more robust market-making activity around crypto ETPs.

What to watch next

Rollouts of custody and staking services for 21Shares’ entire U.S. ETF lineup and broader international ETPs, with clear launch timelines.

Regulatory updates from the OCC and updates to MiCA implementations that may affect how staking is offered within ETF wrappers.

Potential expansion of BitGo–21Shares technology and service integrations to additional product lines or new markets.

Continued ETF issuance activity by 21Shares and related liquidity improvements across electronic and OTC venues.

Sources & verification

BitGo and 21Shares Accelerate Global ETF Partnership Across Staking and Custody — Business Wire press release (Feb 12, 2026).

21Shares product catalog and assets under management (as of Feb 11) published by 21Shares.

BitGo IPO coverage and BTGO listing details (Cointelegraph gateway to BitGo stock information).

FalconX acquisition of 21Shares (context for 21Shares’ corporate structure).

Ripple expands institutional custody stack with staking and security integrations (industry context for custody-staking trends).

BitGo expands custody and staking for 21Shares across US and Europe

BitGo and 21Shares have formalized an expanded collaboration that integrates custody, trading, and staking services for 21Shares’ US ETFs and global ETPs. The arrangement will see BitGo operate through its regulated US and European entities, including a federally chartered trust bank approved by the Office of the Comptroller of the Currency (OCC) and MiCA-licensed European operations, providing a bridge between traditional custody controls and crypto-native staking yields. The underlying objective is to reduce friction for institutions seeking yield opportunities tied to major proof-of-stake ecosystems while maintaining stringent risk and compliance standards.

Within the scope of the agreement, 21Shares gains access to BitGo’s custody and execution frameworks, coupled with integrated staking infrastructure designed to support its ETF lineup. The collaboration underscores a broader trend in the market: custodians and wallet providers are increasingly embedding staking capabilities into regulated products to satisfy investors’ demand for yield, liquidity, and governance participation without sacrificing institutional-grade controls.

As a backdrop, the ecosystem has seen a series of institutional staking moves—ranging from Coinbase’s partnerships enabling direct staking for select assets, to Anchorage Digital’s collaborations that extend staking through regulated banking channels, and even Ripple’s expansion of its custody platform with security integrations. These developments collectively point to a maturation of the crypto infrastructure market, where regulated custody and staking go hand in hand to deliver scalable, compliant exposure to proof-of-stake networks. In this context, BitGo’s expanded alliance with 21Shares positions both firms to capture a larger slice of the ETF and ETP issuance market and to support a broader wave of institutional adoption.

Market participants will be watching how quickly the rollout unfolds and how liquidity improves across the involved products, particularly in the United States and Europe. The partnership could catalyze further collaborations between custodians and ETF issuers, as regulators continue to refine the boundaries of crypto custody and staking within regulated investment products.

This article was originally published as 21Shares Taps BitGo for Regulated Staking and Custody in US & Europe on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

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Revoluționarea Pieței de Remitență

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