crypto

The co-founder of Three Arrows Capital, Zhu Su, posted on platform X stating, "In the coming years, cryptocurrencies may significantly outperform the Magnificent Seven (Mag7) of the U.S. stock market."

X product lead and Solana advisor Nikita Bier posted on the X platform, "I genuinely hope the crypto industry can thrive on X, but applications that encourage spamming, attacking, and harassing random users are not the right way. This behavior significantly harms the user experience for millions, while only benefiting a few.Additionally, X will launch a series of new features in the coming weeks, including a smart cash tag that will allow you to trade stocks and cryptocurrencies directly from the timeline."

According to Decrypt, a 24-year-old man from Connecticut, Elmin Redzepagic, faces up to 375 years in prison for allegedly embezzling nearly $1 million in cryptocurrency investor funds to gamble on the Stake platform.Prosecutors accuse him of posing as a cryptocurrency investment expert working for a market master named "The Chef," promising clients high returns while actually using the funds for gambling. Last month, a federal grand jury indicted him on 21 counts, including 7 counts of wire fraud, 11 counts of international money laundering, and 3 counts of making false statements to IRS criminal investigators.On Thursday, Redzepagic pleaded not guilty to all charges and was released on a $500,000 bail.

According to Coinglass data, the cryptocurrency Fear and Greed Index is currently at 8, up 0 points from yesterday. The average over the past 7 days is 9, and the average over the past 30 days is 21.

On-chain analysis company CryptoQuant indicates that the "ultimate" bottom of the Bitcoin bear market is currently around $55,000, and the formation of a bear market bottom typically takes several months rather than being completed by a single capitulation event. CryptoQuant states that the realized price of Bitcoin has historically been a major support area during bear markets and is likely to represent the final bear market bottom. Currently, the trading price of Bitcoin is still over 25% higher than this level.The company notes that in past bear markets, prices fell below the realized price by 24% after the FTX collapse, and in the 2018 cycle, it dropped by 30%. After reaching these levels, Bitcoin usually requires four to six months to build a bottom. CryptoQuant believes another sign that Bitcoin has not yet reached a structural bottom is the significant single-day realized losses. Data shows that when the Bitcoin price dropped 14% to $62,000, holders recorded an average realized loss of $5.4 billion in a single day, the highest daily loss since March 2023, surpassing the $4.3 billion recorded a few days after the FTX collapse in November 2022.Despite the massive scale of losses, CryptoQuant states that the price bottom has not yet arrived. The monthly cumulative realized losses measured in Bitcoin are still far below the levels corresponding to bear market bottoms, currently at 300,000 BTC, compared to 1.1 million BTC at the end of the bear market in 2022, the report notes. Several key valuation metrics also remain above historical panic sell-off regions. CryptoQuant claims that the MVRV ratio (the ratio of Bitcoin's market value to its realized value) has not yet entered the extremely undervalued range that historically marks bear market bottoms. Similarly, the NUPL metric has not reached the unrealized loss level of about 20% seen in past cycle lows.The behavior of long-term holders has also not reflected complete panic selling. CryptoQuant points out that long-term holders are currently selling at prices close to breakeven, whereas during past bear market bottoms, they endured losses of 30%-40%. Additionally, about 55% of the Bitcoin supply is still in profit, while cycle lows typically fall within the range of 45%-50%. CryptoQuant further states that its bull-bear cycle indicator is currently still in the "bear market phase," rather than the "extreme bear market phase"—the latter historically marks the point at which prices begin to enter a bottoming phase. The company notes that this extreme phase typically lasts for several months, indicating that the formation of a bear market bottom requires time.

According to a report by Reuters, two Democratic senators from the U.S. Senate Banking Committee, Elizabeth Warren and Andy Kim, have written to Treasury Secretary Scott Bessent, requesting a review of a transaction involving an Emirati entity acquiring a stake in a cryptocurrency company owned by the Trump family.It has been reported that a company under the Emirati national security advisor purchased a 49% stake in World Liberty Financial for $500 million. The two senators are calling for an investigation into whether this transaction poses any national security risks.Warren and Kim are asking Bessent, who is responsible for the Committee on Foreign Investment in the United States (CFIUS), to determine whether a CFIUS review is necessary for the Emirati acquisition of the 49% stake in World Liberty Financial, and if so, to conduct a comprehensive, thorough, and fair investigation. They have requested that Bessent respond to several questions by March 5, including whether CFIUS has reviewed the transaction in any form or submitted any recommendations to President Trump.The two senators pointed out that the transaction raises significant national security concerns regarding whether countries like the UAE could potentially access "sensitive personal information" collected by World Liberty Financial.

According to Crypto Politan, the Dubai Financial Services Authority (DFSA) announced its updated regulatory framework for crypto tokens last year and released a Frequently Asked Questions (FAQ) document to assist businesses in understanding and implementing the new regulations.The new framework allows entities regulated by the DFSA within the Dubai International Financial Centre to choose the crypto tokens they wish to work with without requiring prior approval from the DFSA, and this update has been effective since 2026. The FAQ clarifies that the new regulations cover crypto tokens used for payment or investment purposes, excluding investment tokens such as NFTs, utility tokens, securities tokens, and stablecoins.Stablecoins are limited to use by asset managers for payments. Businesses offering crypto token-related products must comply with the token regime and related requirements, with token suitability assessment criteria including their characteristics, regulatory status in other jurisdictions, global market size and liquidity, relevant technology, and whether they may hinder compliance.

According to Crypto Politan, Polish President Karol Nawrocki has once again vetoed a cryptocurrency bill aimed at incorporating the EU MiCA regulations into domestic law. The bill has been criticized for granting excessive powers to the Polish Financial Supervision Authority (KNF), including the ability to suspend cryptocurrency trading and impose fines of up to 10 million zlotys (approximately 2.8 million USD) for violations.The KNF has warned that if the bill fails to pass before July 1, all domestic crypto platforms will face the risk of operating illegally.Industry representatives are concerned that under the current version, Polish crypto businesses may be forced to relocate to more regulatory-friendly European regions such as the Baltic states. Currently, Prime Minister Tusk's government lacks the three-fifths majority needed in parliament to overturn the presidential veto.

According to CoinDesk, the U.S. Senate's cryptocurrency market structure bill has stalled over issues related to stablecoin yields.Bankers insist on a complete ban on stablecoin yields, arguing that it threatens bank deposit operations; the Digital Chamber of Commerce released a principles document today in response, willing to forgo interest on static holdings of stablecoins but insisting on retaining reward mechanisms related to liquidity provision and ecosystem participation, especially in the DeFi space. The White House has urged both sides to reach a compromise by the end of the month and may schedule a new round of meetings next week. Digital Chamber of Commerce CEO Cody Carbone stated that if bankers refuse to negotiate, the status quo will be the continued existence of reward mechanisms.

According to Cointelegraph, the Dutch House of Representatives passed a legislative proposal on February 13, aiming to impose a 36% capital gains tax on savings and most liquid investments, including cryptocurrencies. The proposal was approved with 93 votes, surpassing the 75-vote threshold required for passage.Under the proposal, earnings from savings accounts, cryptocurrencies, most equity investments, and interest-bearing financial instruments will be taxable, regardless of whether the assets are sold. Certain assets, such as startup equity and non-investment physical assets, may be exempt. The proposal must be approved by the Dutch Senate before it can take effect, and if passed, it will be officially implemented in the 2028 tax year. Opponents argue that the bill will encourage capital to flow to jurisdictions with more favorable tax policies.Investor calculations show that an investor who contributes 1,000 euros per month for 40 years will see their final earnings drop from 3.32 million euros to 1.885 million euros under a 36% tax rate, resulting in a difference of 1.435 million euros.

Coinbase CEO Brian Armstrong posted on the X platform that if the cryptocurrency rewards ban becomes law, it would benefit the company more due to the large rewards Coinbase pays to USDC holders. However, he does not wish for this to happen, as rewarding users is more beneficial for customers, and maintaining the competitiveness of regulated stablecoins on the global stage is more advantageous for the United States.

According to The Block, on-chain data analysis company CryptoQuant stated that the "ultimate" bear market bottom for Bitcoin is currently around $55,000. However, bear market bottoms typically take months to form, rather than being completed by a single capitulation event.Analysis shows that the realized price of Bitcoin has historically been a major support area during bear markets, and the current price is still more than 25% above that level. Despite Bitcoin dropping to $62,000, resulting in a single-day realized loss of $5.4 billion, a new high since March 2023, a structural bottom has not yet approached. The monthly cumulative realized loss (in BTC) remains far below the bear market bottom level: currently at 300,000 BTC, compared to 1.1 million BTC at the end of the 2022 bear market.Several key valuation indicators have also not entered the historical capitulation zone: the MVRV ratio has not reached the extremely undervalued range; the NUPL indicator has not reached the historical cycle low of about 20% unrealized loss; long-term holders are currently selling at approximately breakeven, while during historical bear market bottoms, they typically endure losses of 30%-40%; about 55% of Bitcoin supply is still in profit, while cycle lows are usually around 45%-50%. CryptoQuant's bull-bear cycle indicator is currently still in the "bear market phase" rather than the "extreme bear market phase," which historically lasts for several months and marks the beginning of the price entering a bottoming phase.

According to CoinDesk, Yorkville America Equities, the asset management company behind the Truth Social brand, has submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch two cryptocurrency ETF products. These two products are the Truth Social Bitcoin and Ethereum ETF and the Truth Social Cronos Yield Maximization ETF.The Cronos Yield Maximization ETF will invest in and stake CRO tokens, aiming to generate additional income through staking rewards. If approved, these ETFs will be launched in collaboration with Crypto.com, which will provide custody, liquidity, and staking services, and will be distributed through its affiliate Foris Capital US LLC.

According to Arkham data, at 01:13, 661.19 BTC (worth approximately 16.74 million USD) was transferred from Coinbase to an anonymous address (starting with bc1q05xs6...). Subsequently, that address transferred a portion of the BTC (243.82 BTC) to Crypto.com.

According to Coinmarketcap data, the performance of the top 100 cryptocurrencies by market capitalization is as follows, with the top five gainers: Kite (KITE) up 20.32%, current price $0.2256; Humanity Protocol (H) up 18.11%, current price $0.1985; Decred (DCR) up 12.86%, current price $24.76; Pi (PI) up 10.16%, current price $0.1495; Midnight (NIGHT) up 9.64%, current price $0.05449.The top five losers: LayerZero (ZRO) down 9.36%, current price $1.97; River (RIVER) down 3.77%, current price $18.94; World Liberty Financial (WLFI) down 3.01%, current price $0.1046; Internet Computer (ICP) down 2.81%, current price $2.35; PancakeSwap (CAKE) down 1.58%, current price $1.27.

According to Bloomberg, Coinbase's stock price rebounded the day after the release of its weak quarterly earnings report. Some bottom-fishing funds believe that the market has already fully priced in the negative factors, and the crypto market may be approaching a temporary bottom.The earnings report shows that the company's trading volume has weakened and trading revenue is under pressure, highlighting its performance's high sensitivity to fluctuations in digital asset prices and retail trading activity. Previously, affected by the overall weakening sentiment in the crypto market, Coinbase's stock price had fallen for several consecutive weeks and had significantly corrected before the earnings report was released. Market analysts believe that, with expectations having been downgraded and positions becoming more defensive, some investors chose to buy on dips, driving the stock price to stabilize and rebound in the short term.

Jim Moloney, head of the SEC's Division of Corporation Finance, stated that they are working to expedite the development of regulatory rules. The division will primarily focus on reforms related to crypto assets and is preparing to submit two key proposals regarding crypto assets to the Commission: first, to provide interpretive guidance that offers a clear classification for crypto assets and describes the framework for determining when crypto assets are subject to investment contract obligations; second, to develop a reasonable regulatory structure proposal for the issuance and sale of such securities that are subject to investment contract obligations.Additionally, the division will continue to provide market clarity through statements and no-action letters. Jim Moloney also mentioned that other ongoing work by the SEC includes: implementing the Holding Foreign Companies Accountable Act (HFCAA); creating an option for semi-annual reports instead of quarterly reports; and alleviating regulatory burdens under Regulation S-K, including executive compensation disclosures.

After Strategy, another company with Bitcoin as its core business has been included in the mainstream stock index system. IREN Limited (NASDAQ: IREN) announced that it will be added to the MSCI USA Index after the market closes on February 27. This index covers large and mid-cap stocks in the U.S., accounting for approximately 85% of the U.S. free float market capitalization. Inclusion in the index typically means an influx of automatic allocation funds from passive funds and increased visibility among institutional investors.Previously, the index provider MSCI had discussed whether to exclude digital asset reserve (DAT) companies with more than 50% of their balance sheets allocated to crypto assets. In response, Strategy publicly opposed this, stating that the proposal was discriminatory, arbitrary, and unfeasible. Ultimately, MSCI did not exclude DAT companies, allowing Strategy to remain within the index system.

According to Jin10, U.S. Treasury Secretary Basant stated that it is crucial to finalize the legislation on cryptocurrency as soon as possible, and Trump will sign it this spring.