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Nillion (NIL), a decentralized blind computing platform, has advised users to migrate their Cosmos (ATOM)-based NIL tokens to the Ethereum (ETH) network. The platform announced it will discontinue its nilChain service on March 23. After this date, deposits and withdrawals of Cosmos-based NIL will no longer be supported.

The U.S. state of California will require cryptocurrency companies to hold a license under its Digital Financial Assets Law (DFAL) starting July 1, Decrypt reported. Applications for the license will open on March 9. The DFAL mandates licensing for virtual asset firms within California and aims to strengthen consumer protection, requiring companies to meet strict standards for financial reporting, disclosures, and asset reserves. Local crypto organizations have raised concerns that while the regulation could set a standard for the rest of the U.S. and attract more reliable companies, it may also force smaller firms with less capital to exit the market.

Wells Fargo predicts that an increase in U.S. tax refunds could drive $150 billion from retail investors into risk assets, including Bitcoin, by the end of March. According to Cointelegraph, the bank suggested that larger tax refunds for Americans could revive "YOLO" trades. Wells Fargo anticipates that surplus funds from high-income individuals could flow into cryptocurrencies and tech stocks, potentially reigniting speculative activity.

Global hedge fund Brevan Howard's crypto arm, BH Digital Asset, suffered a loss of around 30% last year, marking its worst performance since 2021, CoinDesk reported, citing the Financial Times. The fund, which primarily invests in cryptocurrencies and related companies, had previously posted returns of 43% in 2023 and 52% in 2024.

The altcoin market is struggling under 13 consecutive months of selling pressure, BeInCrypto reported, citing a CryptoQuant report. The cumulative buy-sell delta for altcoins, excluding Bitcoin and Ethereum, has reached negative $209 billion over the past 13 months, its worst level in five years. According to the report, analysts view the current downturn as distinct from the 2022 bear market, noting a complete absence of buying pressure on major spot exchanges. While the total altcoin market capitalization (TOTAL2) has fallen below the $1 trillion mark seen five years ago, the number of altcoins has surged approximately 70-fold from 430,000 to 31.8 million during the same period. The technical structure for altcoins outside the top 10 cryptocurrencies shows a head and shoulders pattern, suggesting that any temporary rallies are more likely to be followed by new lows than a sustained recovery.

The U.S. Securities and Exchange Commission (SEC) is expected to decide on the approval of T. Rowe Price's XRP ETF by Feb. 26, The Crypto Basic reported. Currently, five issuers operate XRP ETFs: Bitwise, Grayscale, Franklin Templeton, 21Shares, and Canary Capital. The total assets under management (AUM) for all XRP spot ETFs amount to $1.06 billion.

MicroStrategy (MSTR) founder Michael Saylor predicted in an interview with Fox Business that the current Bitcoin downturn is mild compared to past cycles and will soon be followed by a strong rally. He argued that while previous bear markets were much deeper and longer, the current correction will pass quickly, allowing the market to find new growth drivers. Saylor cited support from U.S. President Donald Trump and growing institutional adoption as key factors. He noted that while MicroStrategy is currently at a loss on its BTC holdings, the company can manage its debt even if Bitcoin's price were to fall to $8,000. Looking ahead, he said the company plans to convert its convertible notes into stock within the next three to six years and will continue to purchase additional BTC each quarter. Saylor emphasized that technological innovation and the development of digital credit networks are attracting capital, concluding that Bitcoin will ultimately win. MicroStrategy currently holds 717,131 BTC, acquired at an average price of $76,027, for a total value of $54.52 billion.

Binance's foundation is its community, co-CEO He Yi stated on her X account. She noted that in the more than eight years since the exchange launched, BNB has surged 5,354-fold, allowing many users to profit from both the token and the BNB Chain. He Yi emphasized the dedication of many non-influencer users to the community. She explained that Binance adheres to a principle of reciprocity, where goodwill is met with goodwill. While the company is willing to clear up misunderstandings, it will respond firmly to baseless rumors, she added. He Yi concluded that while Binance will continue to focus on building a platform users can trust, individuals must also conduct their own due diligence, or "Do Your Own Research" (DYOR).

CryptoQuant CEO Ki Young Ju argued via X that Bitcoin may need to freeze millions of BTC, including those held by founder Satoshi Nakamoto and coins in older addresses, to counter the threat of quantum computing. He explained that approximately 6.89 million BTC are currently vulnerable to quantum attacks. Of these, 1.91 million have exposed public keys, while the remaining 4.98 million have had their public keys revealed in past transactions. Ju noted that the 3.4 million BTC that have been dormant for over 10 years present a strong incentive for attackers. He emphasized that social consensus could be more critical than a technical solution for Bitcoin to become quantum-resistant. Ju added that the key question is not when "Q-day"—the day quantum computing breaks BTC—will arrive, but that the discussion must begin now, as social consensus has always moved more slowly than technology.

BitMEX co-founder Arthur Hayes has diagnosed that Bitcoin could fall below $60,000 amid a widening decoupling from the Nasdaq 100 and shrinking global liquidity. In a blog post, Hayes noted that while Bitcoin has undergone a sharp correction since its all-time high, the Nasdaq 100 has remained relatively stable. He explained that some market participants see this as Bitcoin preemptively pricing in the risk of a dollar-based credit contraction, or credit deflation. If this credit deflation intensifies, the U.S. Federal Reserve (Fed) could initiate large-scale liquidity injections, potentially mirroring the monetary easing policies seen after the 2008 global financial crisis. Hayes outlined two possible scenarios. In the first, Bitcoin's correction is already complete, and the Nasdaq will fall independently to restore balance. In the second, a sharp drop in the Nasdaq could pull Bitcoin below $60,000 before a rebound fueled by the Fed's liquidity measures. He advised market participants to adopt a cautious approach by reducing excessive leverage and building up cash reserves.

The amount of staked Ethereum (ETH) has surpassed 50% of the total supply for the first time in the network's history, on-chain analytics firm Santiment reported. As of Feb. 16, 50.18% of all ETH was locked in staking contracts. Santiment noted that with staking participation on a continuous rise, the amount of staked ETH is likely to increase further if trading activity slows during a bear market. According to CoinMarketCap, ETH is currently trading at $2,018.24, up 3.14%.

According to CoinNess market monitoring, BTC has risen above $68,000. BTC is trading at $68,000 on the Binance USDT market.

Founders Fund, the venture capital firm led by PayPal co-founder Peter Thiel, has sold its entire stake in ETHZilla, a Nasdaq-listed company that invests in Ethereum (ETH), according to Watcher.Guru. The fund previously held a 5.6% stake in the company as of last November.

Memecoin launchpad Pump.fun (PUMP) announced through its official channels that it has revamped its memecoin reward mechanism and launched a cashback feature for traders. The feature is designed to return a portion of trading fees to traders.

BTC perp long/short ratios on top exchanges by open interest The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 49.3% long, 50.7% short - Binance: 49.03% long, 50.97% short - OKX: 48.98% long, 51.02% short - Bybit: 49.67% long, 50.33% short

Digital asset manager Grayscale announced on X that its Grayscale SUI Staking ETF (GSUI) will begin trading on NYSE Arca on Feb. 19.

U.S. spot Bitcoin ETFs recorded a total net outflow of $104.99 million on Feb. 17, according to data compiled by Trader T. The shift marks a return to net outflows after just one trading day of net inflows. - BlackRock's IBIT: -$119.8 million - Fidelity's FBTC: +$5.89 million - Bitwise's BITB: -$10.29 million - Ark Invest's ARKB: -$8.31 million - Grayscale's GBTC: -$8.45 million - Grayscale's Mini BTC: +$35.97 million

U.S. spot Ethereum ETFs recorded net inflows of $48.61 million on Feb. 17, marking the second consecutive day of positive flows, according to data compiled by Trader T. - BlackRock ETHA: +$22.88 million - Fidelity FETH: +$14.41 million - Grayscale Mini ETH: +$11.32 million

BitMEX co-founder Arthur Hayes deposited 1,000 ETH, worth $1.99 million, to Bybit yesterday, Lookonchain reported. Deposits to exchanges are generally interpreted as a potential precursor to selling, while withdrawals suggest an intent to hold. However, an exchange deposit does not necessarily lead to a sale.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $73.33 million liquidated (73.63% longs) - ETH: $46.79 million liquidated (64.52% longs) - SOL: $8.05 million liquidated (75.37% longs)

Bithumb has announced that it will temporarily suspend deposits and withdrawals for Xion (XION) starting at 9:00 a.m. UTC on Feb. 18 to support the network's mainnet upgrade.

A wallet allocated to the Trump meme team has transferred approximately 9 million TRUMP to a BitGo custody wallet, Onchain Lens reported. The transfer is valued at around $31.45 million.

According to CoinNess market monitoring, BTC has fallen below $67,000. BTC is trading at $66,993 on the Binance USDT market.

The U.S. Ninth Circuit Court of Appeals has denied an emergency administrative request from Kalshi to halt an enforcement action by the state of Nevada, Decrypt reported. Nevada is now free to file a civil lawsuit and seek a temporary restraining order (TRO), which would require Kalshi to immediately cease its operations within the state. Nevada maintains that Kalshi's event-based contracts, particularly those related to sports, constitute illegal sports betting and gambling, which fall under the state's jurisdiction.

World Liberty Financial withdrew 313.31 million WLFI, worth $33.76 million, from Binance over the past 11 hours, Onchain Lens reported. Withdrawals from exchanges are typically interpreted as a sign of intent to hold.