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Coinbase ($COIN) in Limbo as CEO Continues Selling Shares, Analysts Issue Downgrades

Bitcoin Magazine Coinbase ($COIN) in Limbo as CEO Continues Selling Shares, Analysts Issue Downgrades Shares of the largest publicly traded U.S. crypto exchange, Coinbase, fell this week as the broader crypto market takes a hit in prices, and as the market grapples with news insider selling and analyst predictions. Monness Crespi & Hardt downgraded $COIN from “buy” to “neutral,” citing downside risk tied to weakening crypto market conditions. The firm set a price target of $120, implying more than 20% downside from recent trading levels. The downgrade comes as the stock has struggled in early 2026 amid a broader pullback in digital assets. COIN opened Thursday around $153, down nearly 10% from intra-week highs, and is now off roughly 34% since the start of the year. Coinbase’s decline reflects the cooling of crypto markets after last year’s rally. Bitcoin has fallen about 30% over the past month, while major altcoins have posted even steeper losses. The downturn has reduced trading volumes across the sector, squeezing one of Coinbase’s core revenue drivers. Analysts are critical of Coinbase ($COIN) Analysts across Wall Street have begun revising their forecasts. JPMorgan recently cut its Coinbase price target by 27%, pointing to lower spot trading volumes, declining crypto market capitalization, and weakening stablecoin activity, including softer USDC circulation. “We view global crypto spot trading as highly fragmented, with dozens of smaller players threatening Coinbase’s market share,” JPMorgan analysts wrote in a note shared with Decrypt, warning that Coinbase could lose the “regulated monopoly” it has enjoyed as the only major publicly traded crypto exchange for several years. Other firms have also adjusted their outlooks. Cantor Fitzgerald reduced its target price from $277 to $221 while maintaining an overweight rating. Citi trimmed its own target from $505 to $400 but kept a buy stance, reflecting longer-term optimism despite near-term headwinds. The stock now holds a consensus rating of “Moderate Buy,” with 19 analysts rating the stock a buy, 12 assigning a hold, and one issuing a sell. The average price target across analysts stands near $332, suggesting many still see upside from current levels. Brian Armstrong is dumping some of his shares VanEck’s head of digital assets research Matthew Sigel reported that Coinbase CEO Brian Armstrong has sold more than 1.5 million shares between April 2025 and January 2026, worth approximately $545 million based on Bloomberg pricing data. The largest single sale occurred on June 25, when Armstrong disposed of 336,265 shares at roughly $355 per share. Armstrong responded publicly on X, defending his selling as a diversification move after more than a decade with most of his wealth tied to one company. “It would be a little crazy after 13 years, to have 99.999% of your net worth in one stock,” Armstrong wrote at the time, adding that he remains “super long” on Coinbase and has used proceeds to start new companies. H.C. Wainwright analyst Mike Colonnese recently warned Coinbase could miss on net revenue and adjusted EBITDA, driven by soft digital asset prices and unrealized crypto losses. He also flagged the possibility of a large headline earnings loss due to Coinbase’s crypto holdings and its stake in Circle. “We would not be surprised to see shares trade lower on the optics of a large reported net loss,” Colonnese wrote, though he maintained a buy rating and said he would view post-earnings weakness as a buying opportunity. All this is happening as the Bitcoin price extended its steep decline today after a multi-month-long slide that erased more than half of its value from its October peak, with the Bitcoin price now trading near $66,000 following a sharp sell-off that pushed prices toward $60,000. Since roughly December 2025, the bitcoin price has followed a pretty straightforward downward trajectory, falling from levels above $100,000 into a volatile range that has kept traders focused on whether the market has reached a durable floor. This post Coinbase ($COIN) in Limbo as CEO Continues Selling Shares, Analysts Issue Downgrades first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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BlackRock Says 1% Crypto Allocation in Asia Could Drive $2 Trillion in Inflows

Bitcoin Magazine BlackRock Says 1% Crypto Allocation in Asia Could Drive $2 Trillion in Inflows BlackRock executive Nicholas Peach said that even a small shift in Asian portfolio allocations toward crypto could generate enormous inflows for the digital asset market. Speaking during a panel at Consensus Hong Kong, Peach noted that if advisors recommended just a measly 1% allocation to crypto across standard portfolios in Asia, it could translate into nearly $2 trillion in new capital entering the space, according to CoinDesk reporting. Peach pointed to the scale of household wealth across the region, estimating roughly $108 trillion in total assets, and argued that modest adjustments in traditional investment models could have an outsized effect on crypto markets. The comments come as BlackRock continues to see strong demand for crypto exchange-traded funds, particularly through its iShares unit. The firm’s U.S.-listed spot Bitcoin ETF, IBIT, has grown rapidly since launching in January 2024 and now holds nearly $53 billion in assets under management. Peach added that Asian investors have contributed significantly to flows into the U.S.-listed crypto ETFs. Regulators in markets including Hong Kong, Japan, and South Korea are also moving toward broader crypto ETF offerings, signaling growing institutional acceptance across Asia. BlackRock CEO: Bitcoin, crypto has potential Last year, Larry Fink, the CEO of BlackRock, publicly shifted from being a Bitcoin critic to acknowledging its potential. Fink described Bitcoin as an “asset of fear,” often bought as a hedge against financial insecurity, geopolitical instability, and currency debasement but he warned that Bitcoin remains volatile and heavily influenced by leveraged players, making short-term trading risky. However, he suggested it can provide meaningful portfolio insurance when held as a hedge. Also last year, BlackRock expanded Bitcoin access globally, launching its flagship iShares Bitcoin ETF (IBIT) in Australia. The world’s largest asset manager listed the product on the Australian Securities Exchange (ASX) under the ticker IBIT, giving local investors regulated exposure to Bitcoin through a traditional exchange-traded structure. At the time of these developments last year, Bitcoin was trading near all-time highs above $100,000. Currently Bitcoin is down 30% from those levels, trading near $68,000. Last week, bears pushed the price down sharply, sending it into oversold territory on the weekly RSI, which triggered a strong rebound. After such a steep drop and a bounce from $60,000, the price is likely to stay range-bound over the coming weeks. Don’t expect any movement above $80,000 or below $60,000 during this period, according to Bitcoin Magazine data. This post BlackRock Says 1% Crypto Allocation in Asia Could Drive $2 Trillion in Inflows first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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MoonPay Launches Crypto Deposits Feature to Enable Cross-Chain Funding in Wallet in Telegram

Bitcoin Magazine MoonPay Launches Crypto Deposits Feature to Enable Cross-Chain Funding in Wallet in Telegram MoonPay has launched a new product called MoonPay Deposits, in hopes of making wallet-to-wallet crypto transfers easier by automatically handling swaps, bridging, and cross-chain routing behind the scenes. The company said the service allows users to fund applications with crypto from an existing wallet, regardless of which token or blockchain they hold. Instead of manually ensuring the correct asset and network are selected, users can send supported crypto and receive the final balance in their chosen asset. MoonPay Deposits is now available in the self-custodial TON Wallet, part of Wallet in Telegram’s dual-wallet setup, giving more than 100 million users a new way to move funds into the Telegram-based ecosystem. “Users shouldn’t have to buy new assets or navigate complex steps just to fund an account,” said CEO and co-founder Ivan Soto-Wright, adding that the product simplifies transfers by letting people use the crypto they already own. The service is designed to reduce friction for users entering the TON ecosystem, which previously required holding assets on the TON blockchain before funding a TON Wallet account. With the new deposit flow, users can send Bitcoin and other assets from external networks, with MoonPay automatically converting them into TON or other supported tokens. Andrew Rogozov, founder and CEO of The Open Platform and Wallet in Telegram, said the goal is to make entering and exiting the TON ecosystem as seamless as using a custodial wallet while maintaining self-custody. The company said the product operates entirely on its infrastructure and integrates natively into partner environments, supporting deposits from detection through final asset delivery. Users can access MoonPay Deposits directly through TON Wallet by selecting a deposit option, choosing the token and network they want to send from, and transferring funds to a generated address. MoonPay then manages the routing and credits the user in the correct asset. Intercontinental Exchange considering investing in MoonPay Two months ago, Intercontinental Exchange (ICE), owner of the New York Stock Exchange, entered talks to invest in the crypto payments firm. The potential funding round was expected to value MoonPay at around $5 billion, up from its previous $3.4 billion valuation. The company had recently strengthened its regulatory standing by securing a Limited Purpose Trust Charter from the New York Department of Financial Services, alongside its existing BitLicense. The company also announced that CFTC Acting Chair Caroline Pham would join as chief legal and administrative officer. This post MoonPay Launches Crypto Deposits Feature to Enable Cross-Chain Funding in Wallet in Telegram first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Crypto-Lender BlockFills Suspends Client Deposits and Withdrawals As Crypto Market Slumps

Bitcoin Magazine Crypto-Lender BlockFills Suspends Client Deposits and Withdrawals As Crypto Market Slumps BlockFills, an institutional-focused digital asset trading and lending firm, has temporarily suspended client deposits and withdrawals, citing recent market and financial conditions, according to reporting from the Financial Times. A notice was sent last week and stated the suspension was intended “to further the protection of our clients and the firm.” It added that any funds deposited during the suspension period would be refused and returned. Clients were told they could continue trading under certain restrictions, including the possibility that positions or loans requiring additional margin could be closed. BlockFills provides spot and derivatives execution, structured products, and crypto-backed lending to miners, hedge funds, and other professional counterparties. The Chicago-based firm has also been active in crypto credit markets, lending against bitcoin collateral and facilitating leveraged trading strategies. According to its website, BlockFills serves roughly 2,000 institutional clients, with options products available only to investors holding at least $10 million in digital assets. The company did not specify how long the suspension would last or provide details on the underlying cause beyond citing market volatility. A BlockFills spokesperson said that the firm is “working hand in hand with investors and clients to bring this issue to a swift resolution and to restore liquidity to the platform.” Is BlockFills sending a warning sign? In the digital asset industry, a halt on customer withdrawals is often interpreted as a warning sign, potentially indicating liquidity constraints or asset-liability mismatches. Several crypto trading and lending firms, including FTX, BlockFi, Celsius, Genesis Capital, Vauld, and Voyager, imposed similar restrictions during prior market downturns before entering restructuring or bankruptcy proceedings. BlockFills’ suspension comes as bitcoin and other major cryptocurrencies have experienced significant declines. Bitcoin fell below $65,000 last week, down roughly 25% so far in 2026 and about 45% since an October peak near $120,000. Since its founding in 2018, BlockFills has expanded its trading and lending business with backing from Susquehanna and CME Group’s corporate venture arm. While the suspension echoes measures taken by other firms during past crypto downturns, there is currently no public evidence that BlockFills is insolvent. The company did not respond to requests for comment. At the time of writing, Bitcoin is struggling to stay above the $66,000 level. Earlier this week, bitcoin traded above $72,000 but failed to hold that level. This post Crypto-Lender BlockFills Suspends Client Deposits and Withdrawals As Crypto Market Slumps first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Motiv Builds Bitcoin Circular Economies, Empowering 750+ Peruvian Families Weekly

Bitcoin Magazine Motiv Builds Bitcoin Circular Economies, Empowering 750+ Peruvian Families Weekly In Peru’s diverse landscapes—from Andean highlands to coastal surf towns and Amazonian outposts—Bitcoin is quietly taking root, not through top-down mandates or corporate adoption but through grassroots efforts that blend humanitarian aid with Bitcoin’s sense of financial sovereignty. At the forefront is Motiv Peru, a non-profit co-founded by Rich Swisher and Valentin Popescu, which has spent years equipping underserved and unbanked communities to use Bitcoin for everyday needs, education, and local trade. What began as a simple shoe donation program in 2019 has evolved into a network of about 10 active zones with hubs in Lima, Cusco, and Huanchaco and satellite programs in Tarapoto and Iquitos, among others, serving over 750 families weekly. The Motiv team is 50 strong, plus volunteers, and is actively demonstrating Bitcoin’s potential as a tool for long-term empowerment in the developing nations rather than short-term foreign aid relief. Most profound of all, Motiv has developed a non-profit strategy that is having deep and lasting social impact, while bootstrapping Bitcoin circular economies, fulfilling an early Bitcoin vision, ‘banking the unbanked’. What did Motiv figure out that other fiat NGO’s have not, and what does Bitcoin have to do with it? Alpaca Socks for Bitcoin and the Genesis of Motiv Peru has an old and curious history with Bitcoin. One of the first documented real-world uses of Bitcoin involved Peruvian alpaca socks. In early 2011, merchants like Grass Hill Alpacas accepted Bitcoin for wool socks and other goods, exported them from the South American country to the U.S., as noted in Bitcoin Wiki entries and contemporary forum discussions on Bitcointalk. This paralleled legendary moments in Bitcoin history like the famous Laszlo Hanyecz pizza purchase in May 2010. By 2025 the Peru’s crypto landscape had grown amid regional trends, emerging as one of the largest hubs of Bitcoin adoption in the world. Chainalysis data from 2025 shows Latin America handling significant volumes, with Peru recording around $28 billion in crypto transaction value—part of a broader regional surge driven by remittances, inflation hedging, and smartphone access enabling wallets. Motiv’s origins trace to 2019. Founded by Swisher, a retired U.S. military and police officer with experience in international business, and Valentin, a Romanian expat with experience in non-profit work and logistics, who had lived in Peru since 2007. They met while building a playground in a remote Cusco highland village. While Valentin was approached by Jonathan, a seven-year-old orphan living in dire conditions—a mud hut with few possessions, malnourished, and isolated. His mother had passed away months earlier, and his father was the town drunk. “I carried him on my shoulders, and all the kids came around shouting ‘Jonathan, Jonathan!’ He was the star,” Valentin told Bitcoin Magazine in an exclusive interview. When offered a granola bar, Jonathan started sharing it with the other kids despite his own hunger. “This is the orphan of the village, the most looked-down-on kid… and he’s thinking about others. My mind, my heart exploded.” Seeing the extreme need Jonathan was in, Swisher and Valentin called in some donors and managed to buy him a full outfit, a jacket, shoes, pants, and a hat, essential protection from the punishing cold of the Andes highlands. But there was a problem, seeing the gifts brought to Jonathan, the other kids were jealous, they too needed shoes and much more, in this isolated village of Peru. Valentin promised the rest of the kids they, too, would get shoes, good shoes. In the rough terrain of the Andes, high-quality footwear is like a 4×4; for many kids, it means the difference between going to school or not, because the journey they need to make is that rough. That’s when the Happy Steps program was born, and for all intents and purposes, when Motiv found its purpose. Two months later, they returned to the village with shoes for everyone, bought with donations from Swisher’s network, establishing a yearly program to support similar villages upgrading their footwear. As part of the program, the Motiv team and other adults who volunteer wash the children’s feet, often tattered by the elements and rough terrains. Then they give the child the new pair of shoes. Valentin’s experience in this remote village taught him an important lesson, which he shared in the interview: “I understood that the story isn’t me, a foreigner, coming to feel good about doing this. But what we are trying to do is push so that Peruvians can serve and be leaders in the community. Being a leader isn’t talking; it’s serving.” Next year came around, and Motiv was getting ready to release another batch of shoes, but the year was 2020, and COVID-19 and the corresponding lockdowns were ravaging the country’s health and economy. Valentin called Swisher, “Look, we have this situation; we had planned this amount for shoes, so I’m going to do one thing. Why don’t you talk to the donors instead of buying shoes now? Well, we have to buy food.” Right as Valentin might have been, non-profit donations don’t quite work that way. Swisher talked to the donors but returned with bad news. When donations are made for a specific program or purpose, you can’t just pivot at the last minute; the donors refused. But there was another option; Swisher mentioned that “he knows someone who knows someone who knows someone who has Bitcoin” that could buy shoes and food. Valentin recalled his reaction: “This isn’t the time for jokes, Rich.” But the Bitcoin donor was serious. He would fund the shoes program this year and cover other essential supplies like food for the village, to help them survive COVID. But there was one condition. Everything had to be paid for in Bitcoin. “I started looking for a store, but I didn’t find any. I was looking for a big store or something. ” Recalled Valentin, “eventually, I found a kiosk that accepted Bitcoin, crypto, everything. And the guy told me, ‘I don’t have many things.’ We bought some little things from him, but it wasn’t what we needed… We’re talking hundreads of people, right?” At this point, Motiv was looking to provide supplies to 50 families, a triple-digit number of people. The kiosk merchant solved the immediate food supplies mission, but he realized he was going to have to orange pill some vendors to get scale. The second merchant was Olger the shoemaker. Olger had supplied Motiv in previous shoe donation campaigns, so a relationship already existed, but COVID had hit him hard. He lost his wife and job during the pandemic and was left with three kids to take care of alone. Olger, rather than turn to alcoholism as many did during those hard times, doubled down on his vocation and started teaching people to make shoes, while also accepting Bitcoin from Motiv and becoming a crucial partner of the Happy Steps program. From there, Motiv began organizing a list of merchants and educating them about Bitcoin. They quickly faced negative responses, financial scams of many kinds, crypto included, had savaged the country a few times by this point, so a very simple and different approach to Bitcoin evangelism was needed. Rather than promise financial independence or preach the cypherpunk utopia, Valentin simply sold Bitcoin as a payments tool and taught these merchants to use it as they wished. From this premise, Motiv started to snowball. Motiv Peru 2026 Fast forward a few years, and Motivn Peru is a well-oiled machine. As merchants got introduced to Bitcoin as a payment method, they began getting interested in it as a technology, and basic Bitcoin and financial literacy education programs followed, hosted at Motiv centers in major locations across Peru. Various education programs were developed to answer the questions of merchants and users alike in an organized manner. Valentin tells us that today Motiv teaches Peruvians about Bitcoin from Monday to Saturday in 15 different locations, touching over 750 families. Motiv events in 2025 reached over 6000 people of all ages, including the Copa Bitcoin soccer tournament, a Christmas event, and various fairs and educational activities. The total number of individual bitcoin transactions made as a result of these efforts ranges between 25 and 30 thousand, with Blink as their entry level go to wallet. This post Motiv Builds Bitcoin Circular Economies, Empowering 750+ Peruvian Families Weekly first appeared on Bitcoin Magazine and is written by Juan Galt.

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Bitcoin Price Approaches $60,000, Eyes Multi-Month Bottom

Bitcoin Magazine Bitcoin Price Approaches $60,000, Eyes Multi-Month Bottom The bitcoin price extended its steep decline today after a multi-month long slide that erased more than half of its value from its October peak, with the bitcoin price now trading near $66,000 following a sharp sell-off that pushed prices toward $60,000. Since roughly December 2025, the bitcoin price has followed a pretty straightforward downward trajectory, falling from levels above $100,000 into a volatile range that has kept traders focused on whether the market has reached a durable floor. Bitcoin price dropped below the psychological mark of $70,000 on Feb. 5, triggering intense selling pressure across spot and derivatives markets. The decline has been driven by macroeconomic uncertainty, institutional derisking, and turbulence in technology stocks that often trade in tandem with crypto risk appetite. Since the sell-off, Bitcoin price has struggled to regain momentum, hovering around the $66,000 to $67,000 level while trading swings between $66,000 and $72,000 remain common. K33: Bitcoin price may be at a ‘local bottom’ Research and brokerage firm K33 argued this week that the plunge toward $60,000 may have marked a local bottom, citing what it described as “capitulation-like conditions” across volume, funding rates, options skews, and exchange-traded fund flows. K33 Head of Research Vetle Lunde pointed to a “vast list of extreme outliers” that accompanied the move, according to reporting from The Block. Trade volumes reached the 95th percentile, while funding rates collapsed to levels last seen during the March 2023 U.S. banking crisis. Options skews rose to readings previously associated with the most intense stress of the 2022 bear market. Momentum indicators also entered rare territory. After persistent selling since Jan. 20, Bitcoin’s daily Relative Strength Index fell to 15.9, one of the most oversold readings since 2015. RSI measures the speed and magnitude of recent price changes on a scale from 0 to 100, with values below 30 often viewed as oversold. Lunde noted that previous extremes in March 2020 and November 2018 coincided with major cycle lows. Sentiment gauges reflected similar strain. The Crypto Fear & Greed Index fell to 6 during the sell-off, its second-lowest level on record, underscoring the depth of pessimism as Bitcoin price approached $60,000. The price action came with what Lunde called “hyperactive trading.” Two-day spot volume reached $32 billion on Feb. 6, among the highest ever recorded. Feb. 5 and Feb. 6 marked back-to-back 95th percentile volume sessions, a pattern seen only once in the past five years during the FTX collapse. K33 said such outlier days often align with local price extremes, though consolidation and retests can follow. Derivatives markets mirrored the stress. Daily annualized funding rates in Bitcoin perpetual swaps fell to -15.46% on Feb. 6, the lowest since March 2023, while the seven-day average annualized funding rate dropped to -3.5%, its weakest since September 2024. Options positioning moved into what Lunde described as “extreme defensive territory,” similar to periods surrounding the Luna collapse, the 3AC unwind, and the FTX failure. ETF activity also surged. BlackRock’s iShares Bitcoin Trust (IBIT) recorded its largest daily trading volume on Feb. 5, surpassing $10 billion with 284.4 million shares traded. The same day ranked as the fifth-largest daily outflow since spot Bitcoin ETFs launched, contributing to net weekly outflows of 13,670 BTC despite inflows later in the week. Taken together, K33 said the breadth of volatility, volume, yields, skews, and ETF flows supports $60,000 as a high-probability bottom. The firm expects the Bitcoin price to enter a prolonged consolidation phase lasting weeks or months, likely between $60,000 and $75,000, with elevated odds of a retest of support but limited expectation of further downside. Bitcoin billionaires are buying the dip Some long-term industry figures have framed the downturn as an opportunity. Val Vavilov, co-founder of Bitfury and an early cryptocurrency adopter, said the latest market rout offered a chance to rebalance and add exposure. “For us, the fall in Bitcoin is an opportunity to rebalance our portfolio and purchase a certain amount of Bitcoin at a low price,” he said according to Bloomberg, while noting Bitcoin remains only one component of a broader strategy that now includes artificial intelligence data centers. Technical analysts remain focused on key levels. After the rebound from $60,000, resistance sits near $71,800, with $74,500 representing a Fibonacci retracement level. Further resistance stands near $79,000 and $84,000. On the downside, bulls are watching $65,650 and $63,000 as nearer-term support, while $60,000 remains the major floor above the 0.618 Fibonacci retracement at $57,800, according to Bitcoin Magazine Pro data. At the time of writing, the bitcoin price is $66,624. This post Bitcoin Price Approaches $60,000, Eyes Multi-Month Bottom first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Standard Chartered and B2C2 Form Partnership to Help Institutions Access Crypto

Bitcoin Magazine Standard Chartered and B2C2 Form Partnership to Help Institutions Access Crypto Standard Chartered and B2C2, a global provider of institutional liquidity for digital assets, announced a strategic partnership in hopes of improving institutional access to crypto markets. The collaboration brings together Standard Chartered’s global banking infrastructure with B2C2’s liquidity across spot and options trading, according to a note shared with Bitcoin Magazine. Under the agreement, B2C2 will provide its institutional clients like asset managers, hedge funds, corporates, and family offices with direct connectivity and liquidity access to Standard Chartered’s banking network and settlement services. The partnership is designed to deliver a streamlined experience by integrating regulated banking services with institutional-grade crypto liquidity. The move reflects a broader trend of accelerating institutional adoption of digital assets, particularly in Asia. As demand for regulated access to crypto assets grows, partnerships between established banks and digital asset firms aim to reduce friction in fiat-to-crypto transactions and enable faster, more reliable settlement processes. Crypto access for institutional investors Luke Boland, Head of Fintech, Asia, at Standard Chartered, noted the significance of the collaboration, stating that it enables “regulated, scalable market linkage without compromising execution or risk management.” Thomas Restout, Group CEO of B2C2, emphasized the value of Standard Chartered’s global reach and regulatory credentials, calling the bank “an ideal strategic counterpart” for expanding institutional access to digital markets. The partnership wants to connect traditional finance with digital asset markets, giving B2C2’s clients access to Standard Chartered’s global banking network. This allows institutional investors to trade and manage both fiat and digital assets more efficiently and with better oversight. B2C2 is known for providing reliable digital asset liquidity to institutional clients worldwide, while Standard Chartered has a strong presence across Asia, Europe, and the Middle East, helping clients with cross-border transactions and market access. Together, the two companies plan to build a solid framework for institutional crypto trading, supporting the growth of digital assets as part of mainstream finance. Back in May 2025, Standard Chartered announced plans to expand its regulated digital asset services for institutional clients. The bank has now officially launched spot Bitcoin trading through its UK branch, integrated with existing FX platforms and offering clients flexibility in settlement and custody. This partnership with B2C2 will make it easier for institutions to navigate both traditional banking and emerging crypto markets. This post Standard Chartered and B2C2 Form Partnership to Help Institutions Access Crypto first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Danske Bank Opens Retail Bitcoin Access After Years of Crypto Resistance

Bitcoin Magazine Danske Bank Opens Retail Bitcoin Access After Years of Crypto Resistance Denmark-based Danske Bank will now allow customers to invest in cryptocurrency-linked products tied to Bitcoin, marking a shift for Denmark’s largest lender after years of resistance to the asset class. The bank said customers using Danske eBanking and Danske Mobile Banking can now gain exposure through exchange traded products, or ETPs, that track the performance of Bitcoin or Ethereum. The offering includes three products at launch, with two linked to Bitcoin and one linked to Ethereum. Danske Bank framed the move as a response to growing customer demand for access to digital asset markets through traditional financial channels. The bank said the products are intended for customers who trade through its platform without receiving investment advice. Kerstin Lysholm, Head of Investment Products & Offering at Danske Bank, said the lender has seen a rising number of enquiries from customers who want cryptocurrency exposure as part of their portfolios. She pointed to stronger regulation across Europe, including the EU’s Markets in Crypto-Assets Regulation, as a factor that has increased confidence in the sector. The ETP structure allows customers to invest without holding Bitcoin or Ethereum directly, removing the need for digital wallets and private key storage. The group said this provides a simpler route for investors while reducing operational risks linked to self-custody. The bank also highlighted that the selected products come from established providers such as BlackRock and WisdomTree. The bank said the ETPs fall under MiFID II regulations, which require investor protection measures and transparency around costs. Before customers can trade the products, Danske Bank will require a suitability assessment. Investors must answer questions designed to confirm they understand the risks and characteristics of cryptocurrency-linked investments. BREAKING: Denmark’s largest bank Danske Bank just announced to offer #Bitcoin and crypto ETPs to investors Nothing stops this train pic.twitter.com/d3gYAUk6B2 — Bitcoin Magazine (@BitcoinMagazine) February 11, 2026 Crypto reversal for Danske Bank The decision marks a reversal from Danske Bank’s earlier stance. In 2018 the lender refused to support cryptocurrency trading and warned customers against investing in digital assets, maintaining an internal restriction as recently as 2021, according to Decrypt. Lysholm said the new access should not be interpreted as an endorsement of cryptocurrencies, but as a way to meet customer interest within a regulated framework while maintaining strong warnings about risk. Despite offering access, the bank stressed that it does not view cryptocurrencies as part of a long-term portfolio strategy. The bank said it does not provide advisory services for these products and described them as opportunistic investments that carry the potential for significant losses. This post Danske Bank Opens Retail Bitcoin Access After Years of Crypto Resistance first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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DDC Enterprise ($DDC) Adds 100 Bitcoin, Treasury Holdings Reach 1,988 BTC

Bitcoin Magazine DDC Enterprise ($DDC) Adds 100 Bitcoin, Treasury Holdings Reach 1,988 BTC DDC Enterprise Limited ($DDC) announced it has acquired an additional 100 Bitcoin, bringing its total holdings to 1,988 BTC as the company continues to expand its corporate treasury strategy. The purchase marks the fifth consecutive week of Bitcoin acquisitions for DDC, which said the transaction was executed following a recent pullback in BTC prices rather than as a response to short-term market moves. The company reported an average cost basis of $85,756 per Bitcoin. The current price of bitcoin is roughly 21% lower than an $85,756 cost basis. The company also disclosed a year-to-date BTC yield of 40%, alongside a metric of 0.055648 BTC held per 1,000 DDC shares. “Our long-term execution framework is deliberately designed to be insensitive to day-to-day market sentiment,” said Norma Chu, Founder, Chairwoman, and Chief Executive Officer of DDC, adding that the firm applies oversight and guardrails to ensure each purchase aligns with a broader capital structure plan. DDC said its treasury approach remains focused on disciplined execution, governance-led decision-making, and transparency in capital allocation, while maintaining its view of Bitcoin as a scarce asset that can support balance sheet diversification. DDC’s aggressive bitcoin plans The company operates primarily as a global Asian food platform and uses Bitcoin as a core reserve asset as part of its evolving financial strategy. Back in May 2025, the company unveiled this shift in its treasury strategy, saying they would adopt bitcoin as a strategic reserve asset. In a shareholder letter at the time,Chu announced plans to accumulate 5,000 BTC within 36 months, beginning with an immediate purchase of 100 BTC and a short-term target of 500 BTC within six months. Chu framed bitcoin as a hedge against macroeconomic uncertainty and a long-term store of value. The announcement followed a strong financial year, with the company reporting $37.4 million in 2024 revenue, up 33% year over year. By October 2025, DDC had significantly accelerated its bitcoin ambitions. The company announced a $124 million equity financing round, led by PAG Pegasus Fund and Mulana Investment Management, with CEO Chu personally investing $3 million. The raise, priced at a premium with a 180-day lock-up, was positioned as a vote of confidence in the aggressive treasury strategy. At the time of writing, Bitcoin is trading at $67,000, struggling to find some footing as bears are in control. This post DDC Enterprise ($DDC) Adds 100 Bitcoin, Treasury Holdings Reach 1,988 BTC first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Bitcoin-Backed Bonds Facing Stress Test After Bitcoin Selloff, S&P Says

Bitcoin Magazine Bitcoin-Backed Bonds Facing Stress Test After Bitcoin Selloff, S&P Says Wall Street’s first attempt at a public bond sale backed by bitcoin loans has hit some turbulence after bitcoin’s sharp decline triggered forced liquidations. Bankers at Jefferies have spent months pitching institutional investors on a $188 million asset-backed bond deal tied to thousands of loans issued by crypto lender Ledn, according to Wall Street Journal reporting. The structure is designed to package one-year loans made to individuals who post bitcoin as collateral, with proceeds from the bond sale providing Ledn additional capital to extend new credit. But the transaction has been tested after bitcoin fell roughly 27% since mid-January, prompting margin calls across the loan pool. Ledn was forced to liquidate about one-quarter of the loans intended to back the deal, according to WSJ. In other words, the bitcoin-backed credit product faced a stress test pretty early on when bitcoin price volatility triggered margin calls across the loan book. Ledn’s bonds are expected to pay investors between 3 and 6 percentage points above benchmark rates. Jefferies, which has been expanding its presence in structured finance, has increasingly offered more complex and less tested asset-backed products. The bank has also pushed further into crypto dealmaking, including advising trading platform NinjaTrade on its $1.5 billion sale to exchange Kraken last year. Originally, Jefferies told investors the Ledn bonds would be supported by $199 million in bitcoin-backed loans and $1 million in cash. That mix has shifted significantly following the liquidations, with roughly $150 million of loans and $50 million of cash now forming the collateral pool, the WSJ reported. In other words, what was marketed as a bond supported primarily by interest-generating loans is now backed far more heavily by cash, showing fragility of the structure during sharp drawdowns. S&P’s bitcoin bond ratings Despite the disruption, the bond deal remains scheduled to close on Feb. 18, according to S&P Global Ratings, which assigned a rating to the notes. Ledn must now redeploy liquidation proceeds into new loans to generate the interest income needed to meet payments to bondholders. The S&P ratings outlined the structure and key risks behind Ledn Issuer Trust 2026-1. S&P said the initial collateral pool consisted of 5,441 fixed-rate balloon loans to 2,914 borrowers, with an aggregate principal balance of about $199.1 million as of Dec. 31, 2025. The loans are secured by roughly 4,079 bitcoin, valued at approximately $356.9 million at the cutoff date, with a weighted-average interest rate of 11.8% and a weighted-average loan-to-value ratio of 55.8%. The report noted that bitcoin’s sharp decline in early February forced Ledn to liquidate a “significant share” of loans slated for the deal. S&P said all liquidations were executed below an 81.4% LTV threshold, shifting the portfolio mix toward fewer loans and more cash in the funding account, while keeping the total collateral package at $200 million. S&P’s analysis focused on borrower default behavior, recovery rates during liquidation, and concentration risk. The agency said margin-driven defaults represent the most acute stress scenario because liquidations occur when bitcoin prices are falling, potentially into thin or volatile markets where execution slippage matters most. Because Ledn underwrites loans primarily based on bitcoin collateral rather than borrower credit profiles, S&P said traditional consumer loan performance metrics are limited. At the ‘A’ stress level, the agency applied a conservative 100% default assumption, with modeled stresses for the rated notes including a 79% default rate and 68% recovery for the BBB- class A tranche. S&P highlighted structural mitigants including overcollateralization, early amortization triggers, a liquidity reserve funded at 5% of note balance, and Ledn’s automated liquidation engine, which it said has successfully liquidated 7,493 loans over seven years without principal losses. Still, S&P flagged key weaknesses, including bitcoin’s historic volatility, regulatory uncertainty, and a conflict of interest tied to Ledn’s past practice of rolling loans by capitalizing unpaid interest. Ledn plans to require cash interest payments for renewals starting in 2027, which S&P said reduces liquidity stress over time. According to the WSJ, If bitcoin’s price drops and a loan exceeds 70% of collateral value, borrowers must add more bitcoin. At 80%, Ledn automatically liquidates collateral to repay the debt. This post Bitcoin-Backed Bonds Facing Stress Test After Bitcoin Selloff, S&P Says first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Goldman Sachs Discloses $1.1 Billion Position in Bitcoin ETF Holdings

Bitcoin Magazine Goldman Sachs Discloses $1.1 Billion Position in Bitcoin ETF Holdings Wall Street’s Goldman Sachs has revealed an expansion of its crypto holdings, reporting roughly $2.36 billion in total crypto exposure — including $1.1 billion in Bitcoin ETFs, according to financial holding disclosures. Bitcoin’s portion of the haul — the largest of any digital asset listed — highlights just how far the venerable investment bank has shifted from earlier skepticism toward meaningful exposure in the world’s largest cryptocurrency by market cap. The $1.1 billion position was in IBIT, BlackRock’s iShares Bitcoin Trust ETF. The SEC filings also revealed holdings of approximately $35.8 million in Fidelity’s Wise Origin Bitcoin Fund, roughly $92,000 in American Bitcoin and approximately $57,000 in Bitcoin Depot and various other bitcoin mining or cloud-based companies. According to the filings, Goldman Sachs also had hundreds of thousands in IBIT calls and puts. Goldman’s path into Bitcoin began more than half a decade ago with tentative forays into the asset class. In 2022, the firm executed its first known BTC-backed loan and a non-deliverable Bitcoin options trade — milestones that marked early strategic steps into digital assets. Yet for much of its history, Goldman was publicly circumspect about crypto, with executives in earlier years distancing the bank from Bitcoin as an investable class. That posture shifted notably in 2024, when Securities and Exchange Commission (SEC) filings revealed the bank’s first meaningful accumulation of Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund. Institutional filings from that period show Goldman tripling its Bitcoin ETF stake within months, bringing its holdings to roughly $1.5 billion and making it one of the largest institutional holders of Bitcoin ETFs. Filings from today also showed that Goldman Sachs held Ethereum, XRP, and Solana Recent bitcoin price action All this is happening as Bitcoin has struggled to hold its footing above the psychologically key $70,000 level. Bitcoin saw a sharp selloff last week, breaking down through the $70,000 and $60,000 ranges before finding support near $60,000. After capitulating at that level, bulls managed a strong rebound, pushing the price back up to around $71,700 before closing the week near $70,315. Despite the bounce, overall sentiment remains bearish, as bears controlled most of the downside move. Key resistance levels have shifted following the decline. The first area to watch is $71,800, where the price was rejected. Above that, the 0.382 Fibonacci retracement sits near $74,500, with stronger resistance expected at $79,000 and $84,000. On the downside, bulls need to hold $65,650 and $63,000 to maintain a reversal attempt. The $60,000 level is now critical support, sitting just above the 0.618 retracement at $57,800, which may represent the true floor. This post Goldman Sachs Discloses $1.1 Billion Position in Bitcoin ETF Holdings first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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FTX’s Sam Bankman-Fried Wants a New Trial, Claims He Was a Political Victim of the Biden Administration

Bitcoin Magazine FTX’s Sam Bankman-Fried Wants a New Trial, Claims He Was a Political Victim of the Biden Administration Sam Bankman-Fried, the imprisoned former CEO of FTX, reportedly filed a motion for a new trial in the Southern District of New York today, citing Rule 33 of the Federal Rules of Criminal Procedure and the Due Process Clause of the U.S. Constitution. The filing, reported by the Inner City Press, was supported by a declaration from attorney Daniel Chapsky and comes as SBF continues to dispute the circumstances surrounding FTX’s bankruptcy and his conviction. In a series of recent posts on X, SBF claimed he never approved the bankruptcy filing and that lawyers effectively forced the company into Chapter 11. According to a court filing from January 2023, SBF instructed FTX.US not to be included in the bankruptcy because the tech team confirmed it was unaffected by customer deficits. “The money was always there, and FTX was always solvent,” he wrote in the thread. “So they lied, said I stole billions of dollars and bankrupted FTX.” Attorneys, however, insisted on including FTX.US because it had cash to cover legal fees, and installed their own management to control the companies, SBF claims. At the start of the thread, SBF also alluded to being a victim of a “political war” waged by former U.S. President Joe Biden. Sam Bankman-Fried: FTX was solvent SBF has repeatedly alleged that prosecutors withheld evidence demonstrating FTX’s solvency, and that the trial excluded critical information that could have negated intent. He also accused prosecutors of targeting former FTX executive Ryan Salame and exerting pressure on Salame’s pregnant fiancée to secure a guilty plea. Currently serving a 25-year sentence for seven counts of fraud and conspiracy tied to the exchange’s $8 billion collapse, SBF frames his conviction as politically motivated “lawfare.” For context, Bankman-Fried was once the CEO of the world’s largest cryptocurrency exchanges, which collapsed in late 2022, triggering one of the most high-profile failures in crypto history. The exchange, valued at $32 billion at its peak, filed for bankruptcy after a liquidity crisis exposed that customer funds had been misused to support risky trades at Bankman-Fried’s hedge fund, Alameda Research. Investigations revealed a web of alleged mismanagement, including unreported loans to affiliated entities, weak internal controls, and questionable accounting practices. The collapse sent shockwaves through the crypto ecosystem, wiping out billions in customer assets and shaking investor confidence. Regulators, including the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), launched probes into potential fraud and violations of securities law. Bankman-Fried resigned as CEO and is currently serving out his prison sentence. President Donald Trump has said that he has no intention of pardoning Sam Bankman-Fried This post FTX’s Sam Bankman-Fried Wants a New Trial, Claims He Was a Political Victim of the Biden Administration first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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U.S. Treasury: Passing the Clarity Act is Critical for U.S. Bitcoin and Crypto Sovereignty

Bitcoin Magazine U.S. Treasury: Passing the Clarity Act is Critical for U.S. Bitcoin and Crypto Sovereignty Treasury Secretary Scott Bessent recently pressed lawmakers to act on stalled crypto and bitcoin legislation, saying the United States must secure clear market structure rules before the end of the spring legislative window. In an interview from Fox News’ Sunday Morning Futures, Bessent said that the Digital Asset Market Clarity Act — commonly referred to as the Clarity Act — is essential to the future viability of bitcoin and digital asset markets in the U.S. Bessent told host Maria Bartiromo that the recent volatility and developments in crypto markets really show the need for legal certainty. “What we’re seeing in the crypto market over the past few months means more than ever that the U.S. needs market structure, we need clarity, and we need to get this across the line this spring,” he said. Bessent acknowledged resistance from some quarters but said he remains optimistic that Congress can bring the bill back for a markup session. The Treasury chief described the current impasse as driven by “recalcitrant actors” within the industry who would prefer to see the bill fail rather than compromise on contentious elements. He said that many traditional financial firms and a broad swath of crypto and bitcoin companies have aligned behind the need for legislation but that a vocal minority on both sides of the debate are holding up progress. Central to the dispute are provisions in the Clarity Act concerning stablecoin yields and the role of regulatory agencies. Opponents, including major exchange executives, have argued that proposed restrictions on rewards for stablecoin holdings could undermine the competitiveness of U.S. exchanges and limit innovation. Banks and credit unions, in turn, have raised concerns that high yields on stablecoin accounts could pull deposits away from the traditional banking system, undermining funding for lending activities. Bessent said debate over bank margins and crypto incentives is unavoidable but that resolving these issues through legislation is preferable to leaving markets in a legal vacuum. “For crypto to remain a viable digital asset and move forward, we need to get this Clarity Act done,” he said, pointing to bipartisan support in Congress as a pathway to success. The Treasury’s stance also reflects the broader executive branch push to position the U.S. as a global leader in crypto regulation. Bessent said a clear market structure regime could attract innovation and capital onshore, strengthening the domestic financial ecosystem even as digital assets grow internationally. Lawmakers involved in negotiations have signaled that further closed‑door talks are planned, with both chambers seeking to reconcile differences ahead of key legislative deadlines. Bessent: U.S. will stop selling its bitcoin Earlier this year, Bessent said the U.S. government’s stance is to stop selling seized BTC and instead add it to the Strategic Bitcoin Reserve. Speaking at the World Economic Forum in Davos, he framed the move as part of a broader push to bring digital-asset innovation back to the U.S. The comments came amid questions over bitcoin seizures tied to cases involving Tornado Cash and Samourai Wallet developers. While declining to discuss active litigation, Bessent stressed that seized BTC will be retained by the federal government once legal damages are resolved. Any selling of bitcoin would contradict Executive Order 14233, which requires forfeited bitcoin to be held in the U.S. Strategic Bitcoin Reserve rather than liquidated. This post U.S. Treasury: Passing the Clarity Act is Critical for U.S. Bitcoin and Crypto Sovereignty first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Interactive Brokers Adds Nano Bitcoin Futures Via Coinbase Derivatives

Bitcoin Magazine Interactive Brokers Adds Nano Bitcoin Futures Via Coinbase Derivatives Interactive Brokers is expanding its crypto derivatives lineup through a new offering of nano Bitcoin contracts listed by Coinbase Derivatives, giving eligible clients another regulated way to gain exposure to digital assets. The broker said the new contracts are now available for trading on the IBKR platform with both monthly expirations and perpetual-style structures. Trading will be available around the clock, aligning with the always-on nature of crypto markets, with exceptions for scheduled exchange maintenance on Fridays from 5:00 p.m. to 6:00 p.m. Eastern time. The products are designed to lower the entry point for futures traders. Nano Bitcoin futures represent 0.01 Bitcoin per contract, while nano Ether futures represent 0.10 Ether. The smaller sizing allows traders to take more precise positions and manage risk with lower capital requirements compared with standard futures contracts. Interactive Brokers Chief Executive Officer Milan Galik said demand has grown for perpetual-style crypto futures because they provide long-dated exposure and added flexibility. He framed the launch as part of the firm’s broader effort to expand access to crypto-related products within a regulated framework. “By offering nano-sized Bitcoin and Ether futures on a regulated exchange, we are expanding access to these products with smaller contract sizes and lower margin requirements,” Galik said in a company press release. Perpetual-style futures are structured to track the spot price of the underlying cryptocurrency, reducing the need for frequent contract rollovers. The combination of perpetual-style design and nano sizing is intended to make these contracts more accessible for a wider range of market participants. Interactive Brokers’ push for bitcoin exposure The launch reflects Interactive Brokers’ push to integrate digital asset exposure into its multi-asset trading platform, which offers access to more than 170 markets worldwide. Clients can trade traditional securities alongside crypto-related instruments through a single account. Coinbase Institutional also highlighted the partnership as part of its effort to broaden access to regulated crypto derivatives in the United States. “We’re pleased to collaborate with Interactive Brokers to expand access to regulated crypto derivatives,” said Greg Tusar, co-CEO of Coinbase Institutional. “These nano sized contracts are designed to lower the barrier to entry and give more investors the ability to engage with digital assets in a secure and regulated environment.” Interactive Brokers noted that eligibility to trade crypto-related products depends on jurisdiction, reflecting differing regulatory requirements across regions. This post Interactive Brokers Adds Nano Bitcoin Futures Via Coinbase Derivatives first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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‘We’re Not Selling’: Strategy’s (MSTR) Michael Saylor Doubles Down on Bitcoin Buys

Bitcoin Magazine ‘We’re Not Selling’: Strategy’s (MSTR) Michael Saylor Doubles Down on Bitcoin Buys Michael Saylor defended Strategy’s bitcoin-buying approach on CNBC’s Squawk Box earlier today, dismissing concerns that the company could be forced to sell its holdings during a prolonged downturn and reiterating plans to keep adding bitcoin on a regular schedule. “We’re not going to be selling; we’re going to be buying bitcoin,” Saylor said. “I expect we’ll buy bitcoin every quarter forever.” Saylor pushed back against speculation within parts of the bitcoin community that Strategy’s leverage and cash position could create pressure to liquidate if prices remain depressed. He called those fears misplaced, arguing the company has structured its balance sheet to withstand volatility. “That’s just an unfounded concern,” Saylor said, pointing to what he described as conservative leverage relative to typical investment-grade companies and significant liquidity coverage. He said Strategy holds enough cash to cover dividend and debt obligations for roughly two and a half years. The comments come as bitcoin markets face renewed swings following a pullback from recent highs, raising questions about the sustainability of corporate treasury strategies tied closely to the asset. Strategy has become one of the largest public holders of bitcoin, and its stock has traded as a leveraged proxy for bitcoin’s price moves. Saylor framed bitcoin’s volatility as inherent to what he called “digital capital,” arguing that the asset remains structurally more volatile than traditional stores of value such as gold, equities, or real estate. He said that over longer horizons, bitcoin has outperformed other capital assets and should be viewed through a multi-year lens rather than short-term price moves. “If you’ve got a time horizon less than four years, you’re not really a capital investor,” he said, adding that traders may benefit from price swings while long-term investors focus on performance over four-year cycles. Strategy is not selling its bitcoin Pressed by host Andrew Ross Sorkin on what would happen if bitcoin fell sharply and remained lower for years, Saylor said Strategy could refinance debt rather than sell bitcoin. He argued that lenders would continue to provide financing because bitcoin retains value despite drawdowns. Saylor also said the company’s equity is designed to amplify bitcoin’s moves, rising faster during rallies and falling harder during declines. Strategy’s volatility, he said, creates liquidity and demand for what he described as new “digital credit” instruments issued on top of its bitcoin holdings. On the broader market structure, Saylor downplayed the idea that miner economics create a firm price floor, suggesting that bank lending and Wall Street credit products will play a larger role in shaping bitcoin’s next phase. Saylor declined to offer a 12-month price forecast, but said he expects bitcoin to outperform the S&P 500 over the next four to eight years. At the time of writing, Bitcoin is trading near $69,000 and Strategy shares are roughly $135 a share in pre-market trading. Strategy recently bought 1,142 BTC for about $90 million between February 2–8, bringing its total holdings to roughly 714,644 BTC This post ‘We’re Not Selling’: Strategy’s (MSTR) Michael Saylor Doubles Down on Bitcoin Buys first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Fed’s Waller Shrugs Off Bitcoin Volatility, Says Crypto Crashes Don’t Threaten Banks

Bitcoin Magazine Fed’s Waller Shrugs Off Bitcoin Volatility, Says Crypto Crashes Don’t Threaten Banks Federal Reserve Governor Christopher J. Waller downplayed risks from bitcoin and broader crypto markets on Monday, arguing that digital assets remain largely disconnected from the traditional financial system even as the technology behind them moves into the mainstream. Speaking at an event hosted by the Global Interdependence Center, Waller framed crypto markets as an extension and competition of everyday commerce rather than an entirely new phenomenon. His comments come as crypto markets continue to grapple with regulatory uncertainty in Washington and recurring bouts of volatility that have shaped investor sentiment for years. While bitcoin has become more embedded in institutional portfolios, Waller suggested that price swings remain part of the market’s character rather than a systemic concern. “Ups and downs in the crypto world have become so common they actually have a name for them: winters,” he said. “It’s part of the game.” Waller dismissed recent declines in bitcoin’s price as less dramatic when viewed through a longer lens, noting that levels once considered extraordinary are now treated as routine. “People like, oh my god, bitcoin’s down to 63,000,” he said. “Eight years ago, if you just said it was 10,000 you would have said, oh my god, this is crazy.” JUST IN: Federal Reserve Governor Christopher Waller says Bitcoin volatility is just "a part of the game." "It's happened before. Bitcoin is down to $63,000. Eight years ago if you would have said it was $10,000, you would have said this is crazy!" pic.twitter.com/fTgZrHlaYY — Bitcoin Magazine (@BitcoinMagazine) February 9, 2026 The Fed governor also pushed back against the idea that crypto volatility poses immediate threats to banks or the broader payments system. In his view, crypto remains a separate ecosystem that can experience sharp crashes without triggering spillovers into traditional finance. “These things are pretty detached from the traditional finance world,” he said. “You can have these big crashes and move volume. The rest of us wake up and we’re fine the next day. Nothing bad’s going on. The banks are open. Your payments are being made.” Waller said he does not closely monitor crypto markets as part of his day-to-day responsibilities at the central bank, describing the sector as still outside the core of the financial system. “The banks are open. Your payments are being made,” he said. Early on in his talk, Waller compared a typical blockchain transaction to buying an apple at the grocery store, with different objects and different rails but the same basic structure of payment, execution, and recordkeeping. “In the decentralized crypto world, a crypto asset, or digital asset, is the object that people want to buy,” Waller said, pointing to bitcoin and other tokens. The transaction, he argued, relies on new technologies such as blockchains, tokenization, and smart contracts, which he described as tools rather than threats. “Those are just technologies,” Waller said. “There’s nothing dangerous about them. There’s nothing to be afraid of.” Waller: Bitcoin and crypto are becoming more commonplace At the same time, Waller acknowledged that crypto markets have begun to intersect more with mainstream finance, particularly as traditional firms explore blockchain-based infrastructure. He pointed to efforts by financial institutions and even the U.S. Treasury to consider tokenized securities trading that could operate around the clock. The ability to support 24/7 global trading, he said, represents one of the key innovations of blockchain-based systems compared with legacy banking infrastructure built around business hours and slower clearing cycles. “These technologies were built to do this globally, 24 by seven from the beginning,” Waller said. “They’re not legacy systems.” He argued that this constant trading and settlement capability is already forcing traditional financial institutions to improve their own payment systems, especially in cross-border transfers where crypto rails can move value without relying on established networks. “They’re forcing the big banks, everybody else, to sort of make their payments, especially cross border, faster and cheaper,” he said. Waller also highlighted the need for clearer regulatory definitions around digital assets, including whether various tokens should be treated as securities or commodities. He said that responsibility lies with Congress, the Securities and Exchange Commission, and the Commodity Futures Trading Commission. “The bigger problem is clarity,” Waller said, adding that progress in Congress appears stalled. “Everybody thought clarity would come in that would clear the road,” he said. “It doesn’t look like it’s going anywhere anytime soon.” Waller suggested that some of the recent cooling in crypto market enthusiasm reflects fading expectations that sweeping legislation would arrive quickly. “The lack of passing of the clarity act has kind of put people off,” he said. While Waller emphasized that bitcoin and speculative crypto assets are not his focus as a central banker, he offered blunt advice to investors navigating the sector’s volatility. “Prices go up. Prices go down,” he said. “If you don’t like it, don’t get in.” This post Fed’s Waller Shrugs Off Bitcoin Volatility, Says Crypto Crashes Don’t Threaten Banks first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Bitcoin Rebounds from $60K Capitulation Low, Eyes $74,500 Resistance This Week

Bitcoin Magazine Bitcoin Rebounds from $60K Capitulation Low, Eyes $74,500 Resistance This Week Bitcoin Price Weekly Outlook Well, that escalated quickly! The bitcoin price just melted all the way through the $70,000s and $60,000s last week, but finally found its footing at $60,000. The bulls battled back from down there to push the price back up to $71,700 before it moved back slightly to close the week out at $70,315. The bears covered a lot of ground to the downside last week, so the bulls will try to get back some ground this week. Expect $60,000 support to hold at least into this week. Key Support and Resistance Levels Now With such a big move down last Thursday, we will need to find new resistance levels to watch going forward. Over the short term, $71,800 is a level to watch after the price rejected there Friday into Saturday. Above here, we have the 0.382 Fibonacci retracement from the latest move down, sitting at $74,500. If the price can manage to climb above this level, $79,000 should be a strong resistance. $84,000 sits firmly above this level and should be very strong resistance going forward. Looking below, the bulls will look to hold $65,650 in order to try to put in the reversal here. $63,000 sits just below here as support. Next, we have $60,000 as newfound support just above the 0.618 Fibonacci retracement at $57,800. Arguably, the true support sits at $57,800 here and was slightly front-run at that $60,000 low. If this level is lost, we will look all the way down to $44,000 for support, then $39,000 at the 0.786 Fibonacci retracement below here. Outlook For This Week The MRI Indicator gave us a buy signal on Friday last week on the daily chart off of the $60,000 low. The move was strong from that level, so the bulls will have to try to capitalize on this bounce to continue the momentum into this week. This signal can produce a full reversal, but often only results in a 1 to 4 candle correction of the trend. So if the bulls can keep the push higher going into Wednesday, we may be looking at a sustainable reversal on the daily chart, which could attempt to reclaim the $80,000 level. Market mood: Bearish – The price lost a lot of ground last week. The bears are in control. Period. The next few weeks The bears took the price down another big leg last week. Weekly RSI hit oversold levels and produced a big bounce. After such a significant drop and such a big bounce back from $60,000, the price should remain constrained within a range here for at least the next few weeks. Do not expect to see any price action above $80,000 or below $60,000 for the next few weeks. Terminology Guide: Bulls/Bullish: Buyers or investors expecting the price to go higher. Bears/Bearish: Sellers or investors expecting the price to go lower. Support or support level: A level at which the price should hold for the asset, at least initially. The more touches on support, the weaker it gets and the more likely it is to fail to hold the price. Resistance or resistance level: Opposite of support. The level that is likely to reject the price, at least initially. The more touches at resistance, the weaker it gets and the more likely it is to fail to hold back the price. Oscillators: Technical indicators that vary over time, but typically remain within a band between set levels. Thus, they oscillate between a low level (typically representing oversold conditions) and a high level (typically representing overbought conditions). E.G., Relative Strength Index (RSI) and Moving Average Convergence-Divergence (MACD). RSI Oscillator: The Relative Strength Index is a momentum oscillator that moves between 0 and 100. It measures the speed of the price and changes in the speed of the price movements. When RSI is over 70, it is considered to be overbought. When RSI is below 30, it is considered to be oversold. Fibonacci Retracements and Extensions: Ratios based on what is known as the golden ratio, a universal ratio pertaining to growth and decay cycles in nature. The golden ratio is based on the constants Phi (1.618) and phi (0.618). Momentum Reversal Indicator (MRI): A proprietary indicator created by Tone Vays. The MRI indicator tracks buyer and seller momentum and exhaustion, providing signals to indicate when to expect momentum to fade and accelerate. This post Bitcoin Rebounds from $60K Capitulation Low, Eyes $74,500 Resistance This Week first appeared on Bitcoin Magazine and is written by Ethan Greene - Feral Analysis and Juan Galt.

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Cipher Mining (CIFR) and TeraWulf (WULF) Get Morgan Stanley Nod; Marathon (MARA) Rated Underweight

Bitcoin Magazine Cipher Mining (CIFR) and TeraWulf (WULF) Get Morgan Stanley Nod; Marathon (MARA) Rated Underweight Morgan Stanley initiated coverage of three publicly traded bitcoin miners on Monday, assigning Overweight ratings to Cipher Mining (CIFR) and TeraWulf (WULF) while giving Marathon Digital (MARA) an Underweight rating. The move reflects the bank’s view that certain miners are better valued as infrastructure plays rather than pure crypto or bitcoin bets. Analyst Stephen Byrd and his team set price targets of $38 for Cipher and $37 for TeraWulf. Shares of CIFR rose roughly 134% to $16.50 on Monday, while WULF climbed 13% to $16.20. Marathon shares increased slightly to $8.28, below its $8 target. Morgan Stanley’s thesis focuses on the transformation of bitcoin mining sites into data center assets. Byrd argued that once a miner has built a data center and signed a long-term lease with a creditworthy counterparty, the asset should be valued for stable, long-term cash flow rather than bitcoin exposure. He likened these sites to data center real estate investment trusts (REITs) such as Equinix (EQIX) and Digital Realty (DLR), which trade at high multiples due to scale and predictable revenue. Cipher Mining sits at the center of that framework. Byrd described its facilities as suited to what he called a “REIT endgame,” where leased data centers function like toll roads, generating predictable cash flows with minimal reliance on bitcoin’s price. TeraWulf also fits the model, with a track record of signing data center agreements and management experience in power infrastructure. The firm plans to expand 250 megawatts of data center capacity per year through 2032, with Morgan Stanley modeling success rates of 50% in a base case and 75% in an optimistic scenario. Marathon Digital received a more cautious assessment. Byrd noted the company’s hybrid approach, combining bitcoin mining with data center ambitions, limits upside potential from bitcoin-to-data center conversions. Marathon’s focus on acquiring bitcoin and issuing convertible notes to fund mining positions makes its value largely dependent on bitcoin prices. Morgan Stanley highlighted the company’s limited history of hosting data centers and the historically low return on invested capital in bitcoin mining as factors in the Underweight rating. Bitcoin mining or AI? The coverage comes amid ongoing debate over whether bitcoin miners should evolve into power and AI. Morgan Stanley’s stance is selective: miners with long-term leased data centers may offer higher, more predictable returns, while those focused on mining remain exposed to cryptocurrency volatility. Bitcoin miners are reallocating money and operational focus away from proof‑of‑work hashpower toward artificial intelligence and high‑performance computing data centers, as shrinking mining margins and halving‑driven revenue pressures make traditional operations less lucrative. Major publicly traded miners such as Bitfarms (now rebranded as Keel Infrastructure) and IREN have signaled full or partial exits from legacy mining to host AI workloads and secure long‑term contracts with cloud and hyperscaler partners. This post Cipher Mining (CIFR) and TeraWulf (WULF) Get Morgan Stanley Nod; Marathon (MARA) Rated Underweight first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Bernstein Calls Current Bitcoin Selloff the ‘Weakest Bear Case in History,’ Reaffirms $150K Target for 2026

Bitcoin Magazine Bernstein Calls Current Bitcoin Selloff the ‘Weakest Bear Case in History,’ Reaffirms $150K Target for 2026 Bernstein analysts reiterated a bullish long-term outlook for bitcoin, calling the current bitcoin price downturn the “weakest bear case” in the asset’s history and maintaining a $150,000 price target by the end of 2026. The research and brokerage firm argued that the recent drawdown reflects a crisis of confidence rather than structural damage to bitcoin’s network or investment thesis. “What we are experiencing is the weakest bitcoin bear case in its history,” the analysts wrote, adding that none of the typical catalysts behind past crypto winters have emerged. Bernstein said previous bear markets were driven by major failures, hidden leverage, or systemic breakdowns. This cycle, the firm sees no comparable blowups or widespread insolvencies. Instead, analysts pointed to growing institutional alignment as a key difference. They cited support from a pro-bitcoin U.S. political environment, expanding adoption of spot BTC ETFs, rising corporate treasury participation, and continued involvement from large asset managers. The firm argued that bitcoin’s broader adoption story remains intact despite market weakness. Bernstein also addressed criticism that bitcoin has lagged gold during the latest period of macro volatility. They said BTC continues to trade primarily as a liquidity-sensitive risk asset rather than a mature safe haven. They noted that elevated interest rates and tighter financial conditions have concentrated gains in select areas such as precious metals and AI-linked equities. Bernstein said BTC ETF infrastructure and corporate capital-raising channels remain positioned to absorb renewed liquidity if conditions ease. Reporting from The Block helped with the coverage of this analysis. Bernstein stays bullish on bitcoin; quantum fears dismissed. The analysts also pushed back against claims that BTC is losing relevance in an economy shaped by artificial intelligence. They argued that blockchains and programmable wallets could play a central role in an emerging “agentic” digital environment, where autonomous software agents require global, machine-readable financial rails. Traditional banking systems, they said, remain constrained by closed APIs and legacy integration barriers. On quantum computing, Bernstein acknowledged that future cryptographic threats warrant preparation but said BTC is not uniquely exposed. The firm argued that all critical digital systems face similar risks and will transition toward quantum-resistant standards together. These thoughts echo that of Strategy, on Strategy’s fourth-quarter 2025 earnings call, Executive Chairman Michael Saylor said the company will launch a Bitcoin Security Program aimed at coordinating with the broader cyber and crypto community. The message echoed Strategy’s view that quantum computing is not an immediate threat, but a future engineering challenge that the network will have time to address. Saylor framed quantum fears as the latest version of “FUD,” arguing that many major industries still rely on the same cryptographic foundations BTC uses today. He pointed to ongoing global investment in quantum-resistant research and said the Bitcoin ecosystem is already exploring upgrades that could strengthen the protocol if needed. He emphasized that any major change would require broad global consensus, consistent with Bitcoin’s history of adapting through technical and regulatory pressure. Bernstein added that BTC’s transparent codebase and the growing involvement of well-capitalized stakeholders position it to adapt alongside other financial and governmental systems. Bernstein also dismissed concerns about leveraged corporate bitcoin accumulation and the risk of miner capitulation. The analysts said major bitcoin-holding firms have structured liabilities to withstand prolonged downturns. They pointed to comments from Strategy executives that only an extreme scenario — BTC falling to $8,000 and remaining there for five years — would require balance sheet restructuring. Bernstein maintained that the selloff represents sentiment weakness rather than systemic failure, and reiterated its forecast for bitcoin to reach $150,000 by the end of 2026. At the time of writing, BTC is trading slightly below $70,000. This post Bernstein Calls Current Bitcoin Selloff the ‘Weakest Bear Case in History,’ Reaffirms $150K Target for 2026 first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Bitcoin Miner Cango Sells Millions in Bitcoin to Cut Debt and Fund AI Expansion

Bitcoin Magazine Bitcoin Miner Cango Sells Millions in Bitcoin to Cut Debt and Fund AI Expansion Cango (CANG) said it sold 4,451 Bitcoin over the weekend for net proceeds of about $305 million as the company moves to strengthen its balance sheet and support a shift into artificial intelligence infrastructure. The Dallas-based Bitcoin miner announced Monday that the transaction was settled directly in Tether’s USDT stablecoin. The company said the full amount of the proceeds was used to partially repay a Bitcoin-collateralized loan. Cango said the sale followed a review of market conditions and was approved by its board of directors. The company framed the move as a balance-sheet adjustment aimed at reducing leverage rather than a retreat from its mining business. The company’s stock is currently down 9%. “The divestment of a portion of the Company’s Bitcoin holdings was executed to strengthen its balance sheet and reduce financial leverage,” Cango said in its statement. The company said the debt reduction provides greater capacity to fund its strategic expansion into AI compute infrastructure. Cango is pursuing a plan to build an integrated energy and AI compute platform by using its grid-connected mining sites to provide distributed computing services for the AI industry. The bitcoin miner said its approach will roll out in phases. The first stage will deploy modular, containerized GPU compute nodes across existing sites. The company said it plans to offer inference capacity for small and medium enterprises, a segment it described as underserved. A later phase will focus on building a software orchestration platform to unify distributed compute resources across its global footprint. Cango’s AI and bitcoin miner pivot As part of the AI push, the bitcoin miner announced the appointment of Jack Jin as chief technology officer of its AI business line. The company said Jin previously worked at Zoom Communications, where he led deployments of multi-node GPU clusters supporting large language model inference and fine-tuning. Cango said his background aligns with its roadmap to build a distributed inference platform. Cango said its AI development leverages existing strengths in computing operations and energy management. The company added that it remains committed to its Bitcoin miner operations, with continued focus on improving mining economics and balancing hashrate scale with operational efficiency. The sale comes as mining firms face tighter margins following the Bitcoin halving cycle, rising power costs, and price volatility. Public miners have begun exploring AI and high-performance computing as alternative revenue streams tied less directly to Bitcoin market cycles. Cango entered the digital asset space in November 2024 and operates bitcoin miner sites across North America, the Middle East, South America, and East Africa. The company also continues to run an online international used car export business through AutoCango.com. Cango said it will maintain a disciplined framework for asset allocation as it pursues long-term value creation while advancing its AI transformation. This post Bitcoin Miner Cango Sells Millions in Bitcoin to Cut Debt and Fund AI Expansion first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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