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The supply of USDT, the world's largest stablecoin, has fallen by approximately 1.7% over the past month, marking the largest monthly contraction since the collapse of FTX, according to an analysis by Solid Intel. The firm noted that the supply is decreasing rapidly amid the implementation of the European Union's Markets in Crypto-Assets (MiCA) regulation and a broader market downturn.

Matt Hougan, Chief Investment Officer (CIO) at crypto asset manager Bitwise, projects that Bitcoin will see a compound annual growth rate (CAGR) of around 28% over the next 10 years. In a recent interview, he stated that while the current market mood is similar to the crypto winters of 2018 and 2022, institutional investors continue to buy Bitcoin and Ethereum (ETH) amid the downturn, which he sees as a sign of their confidence, The Crypto Basic reported. Hougan added that the four-year cycle centered on the Bitcoin halving remains valid, predicting a gradual, U-shaped recovery will unfold after the market finds its bottom in 2026.

An analysis suggests that Bitcoin's price movements are more closely correlated with the issuance of short-term U.S. Treasury bills (T-bills) than with Federal Reserve policy or the M2 money supply. Nic Puckrin, founder of Coin Bureau, explained on X that there is a leading correlation coefficient of approximately 0.8 between T-bill issuance and BTC, with an eight-month lag affecting the price. He noted that the growth in T-bill issuance peaked in late 2024 and slowed through early 2026, a pattern that aligns with the recent weakness in BTC. Puckrin added that $3 trillion to $4 trillion in refinancing issuance is expected annually through 2029.

Quant trading and market-making firm Presto Labs announced via its official X account that it will support liquidity for South Korean stock derivatives upon their upcoming launch in the Hyperliquid (HYPE) ecosystem. The firm stated it will provide liquidity from the first day of listing for stocks such as Samsung Electronics, SK Hynix, and Hyundai Motor on Trade[XYZ], a decentralized exchange based on Hyperliquid's Layer 1 HIP-3 protocol.

German financial media outlet Der Aktionär reports that Deutsche Bank, the country's largest commercial and investment bank, is expanding its use of Ripple's (XRP) payment infrastructure for cross-border payments, foreign exchange transactions, and digital asset custody. The outlet noted that this collaboration is proceeding without any formal announcement regarding its scope or terms. Separately, crypto media outlet Yellow added that Deutsche Bank has been working with Ripple-integrated service providers to optimize foreign exchange trading and multi-currency accounts. This strategy allows the bank to bypass traditional intermediary systems, which typically require two to five business days for settlement. Yellow also stated that the bank is pursuing Ripple's infrastructure for internal use while exploring SWIFT's blockchain-based payment ledger for external applications.

Bithumb has announced that it will temporarily suspend deposits and withdrawals for Hedera (HBAR) starting at 9:00 a.m. UTC on Feb. 25 to support an upcoming network upgrade.

A U.S. federal court in Tennessee has temporarily suspended the state's regulatory enforcement against prediction market platform Kalshi. The court granted an injunction, ruling that the platform's sports event contracts are likely to be considered "swaps" under the federal Commodity Exchange Act (CEA), countering the state's attempt to sanction them as illegal sports betting. As a result, the state government cannot enforce its sports gaming laws against Kalshi while the lawsuit is ongoing.

Japanese listed company Remixpoint announced it will commit its entire holding of 1,411 BTC to a cryptocurrency lending service offered by SBI Digital Finance, a subsidiary of SBI Holdings. The company stated the move is part of its asset management strategy. The lending will commence on Feb. 24, with interest rates set to vary depending on market rates and the loan period.

According to market data from Coinglass, Lockheed Martin (LMT) has posted the highest gains among U.S. stock futures on major crypto exchanges, rising 3.12% over the past 24 hours. It was followed by IREN (+2.31%), USO (+2.07%), GE (+1.85%), and AMD (+1.48%). The defense, energy, and semiconductor sectors are showing notable strength, leading the pre-market futures session today. In an analysis, LBank Labs noted that U.S. stock futures traded on major centralized exchanges are becoming a specialized tool for cross-market portfolio allocation and short-term profit opportunities. The firm added that as the link between the crypto market and traditional assets strengthens, stocks with high liquidity and strong narratives will help investors diversify their portfolios and manage risk.

The Democratic Party's Digital Asset Task Force has drafted a consolidated bill for a new Digital Asset Basic Act that would prohibit paying interest on won-denominated stablecoins, ZDNet Korea reported. Under the proposed legislation, stablecoin issuers would be barred from paying interest to holders. The ban covers not only cash but all forms of property value, including discounts and reward points, effectively prohibiting all monetary and non-monetary incentives for holding the assets. Meanwhile, a proposal to establish a won-denominated stablecoin consortium was not included in the bill. The task force is scheduled to hold a private meeting with private sector advisors to discuss the draft on Feb. 24.

South Korea’s Financial Services Commission (FSC) announced it is considering raising the mandatory cold wallet storage ratio for virtual asset exchanges from the current 80% to nearly 100%. According to a News1 report, the FSC disclosed its position in a written response submitted to the National Assembly on Feb. 19. The statement was in reply to an inquiry from Democratic Party lawmaker Kim Hyun-jung. The commission said it would review the potential increase while drafting subordinate regulations for the second phase of the country's virtual asset legislation, taking into account exchange operations, international regulatory trends, and inspection results from the Financial Supervisory Service.

According to data from CoinGlass, the Coinbase Bitcoin Premium Index has been negative for 36 consecutive days, currently standing at -0.0467%. The index measures the price difference for Bitcoin between the U.S. cryptocurrency exchange Coinbase and the global market average. This marks the longest such streak since May 2023, surpassing the roughly 30-day negative period seen during the market crash on Oct. 11 of last year.

Bitcoin's mining difficulty has surged by 15%, marking its largest increase since 2021, CoinDesk reported. The media outlet explained that the spike follows a recovery in the network's hashrate, which had previously plummeted after a winter storm in the U.S. forced major mining operations to scale back. That event had caused the mining difficulty to drop by 12%. Despite the hashrate's rebound, profitability remains under severe pressure, as the hash price—the estimated daily earnings per unit of hash power—is stuck at a multi-year low of $23.9.

South Korean crypto exchange Upbit announced it will temporarily suspend deposits and withdrawals for Hedera (HBAR) starting at 9:00 a.m. UTC on Feb. 25 to support a network upgrade.

Bitcoin is having its worst start to a year on record, down 23% year-to-date, CoinDesk reported. The outlet noted that, according to CoinGlass data, Bitcoin has never previously posted consecutive losses in both January and February. While the cryptocurrency saw double-digit declines in January of 2015, 2016, and 2018, it rebounded in February each time. The current index reading 50 days into the year is 0.77, below the typical bear market average of 0.84. This performance also breaks a historical pattern where Bitcoin typically sees above-average returns in the year following a U.S. presidential election; last year, it fell 17%.

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: 49.89% long, 50.11% short - Binance: 49.67% long, 50.33% short - OKX: 49.71% long, 50.29% short - Bybit: 49.76% long, 50.24% short

A new address withdrew 7,000 ETH, worth $13.55 million, from Binance about an hour ago, Onchain Lens reported. Withdrawals from exchanges are typically interpreted as a sign of intent to hold the assets.

According to CoinNess market monitoring, BTC has risen above $68,000. BTC is trading at $68,001.99 on the Binance USDT market.

Bithumb announced it will list Aztec (AZTEC) for KRW trading at 7:30 a.m. UTC today.

South Korean crypto exchange Upbit announced it will list Aztec (AZTEC) at 7:30 a.m. UTC today for trading against the South Korean won (KRW), Bitcoin (BTC), and Tether (USDT).

Ethical questions surrounding the crypto business dealings of U.S. President Donald Trump's family have become a major hurdle for the CLARITY Act, a key crypto market structure bill. According to Decrypt, Caitlin Long, CEO of Wyoming-based crypto bank Custodia Bank, stated that Trump-related meme coins and ventures like World Liberty Financial are making it difficult to secure bipartisan support for the legislation. She explained that the bill needs seven Democratic votes to pass, noting that Senator Elizabeth Warren is a particularly strong opponent of the Trump family's crypto activities. Long suggested that if the bill fails, the Trump family would share in the responsibility. However, she also pointed out that a bipartisan foundation for legislation still exists, citing the ongoing collaboration between Senators Cynthia Lummis and Kirsten Gillibrand.

U.S. spot Bitcoin ETFs recorded a total net outflow of $165.69 million on Feb. 19, marking the third consecutive day of net outflows, according to data compiled by Trader T. - BlackRock's IBIT: -$163.99 million - Valkyrie's BRRR: -$1.7 million

U.S. spot Ethereum ETFs experienced net outflows of $130.51 million yesterday, marking the second consecutive day of withdrawals, Trader T reported. The outflows were led by BlackRock, and no individual ETF recorded net inflows. - BlackRock (ETHA): -$97.11 million - Fidelity (FETH): -$11.62 million - Bitwise (ETHW): -$3.34 million - Grayscale Mini ETH: -$18.44 million

Bitcoin Core developer Matt Corallo has stated that the recent decline in Bitcoin (BTC) is not due to quantum computing. Speaking on the Unchained podcast, Corallo said he disagrees with the interpretation that quantum risk is the cause of the current price drop. He argued that if the threat from quantum computing were the real reason, Ethereum should have seen a significant rally against Bitcoin. While acknowledging that quantum computing could be a potential long-term risk, Corallo suggested that market participants are over-interpreting the issue in their search for a reason behind the short-term decline.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $46.18 million liquidated (58.37% longs) - ETH: $45.6 million liquidated (65.21% longs) - SOL: $7.82 million liquidated (54.71% longs)