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The three major U.S. stock indices opened higher today. - S&P 500: +0.24% - Nasdaq: +0.15% - Dow Jones: +0.14%

The XRP Ledger has activated a members-only decentralized exchange (DEX) feature designed for regulated institutions. According to CoinDesk, the trading mechanism is similar to the XRPL's existing DEX but allows for the creation of a restricted trading environment where participation is limited by compliance requirements such as KYC and AML. This effectively creates a members-only marketplace. The feature is aimed at banks, securities firms, and other companies that want on-chain settlement and liquidity but cannot interact with fully open DeFi markets.

While Bitcoin has likely reached a market bottom, it is expected to continue trading sideways for the time being, according to Vetle Lunde, head of research at K33. In a statement to The Block, Lunde compared the current market to that of September 2022. He noted that while indicators such as derivatives yields, open interest, and ETF fund flows suggested a bottom at that time, a prolonged period of sideways movement followed rather than an immediate rebound. Lunde observed that BTC investors are currently closing out their long positions, with funding rates remaining negative for 11 consecutive days. Open interest has also fallen below 260,000 BTC. Although BTC ETPs have experienced outflows of 103,000 BTC from their peak last October, he suggested this is more likely the result of portfolio adjustments than a large-scale exit. He predicted that Bitcoin will trade between $60,000 and $75,000 for some time, calling this range an attractive entry point but advising that patience will be necessary.

Decentralized derivatives exchange Hyperliquid (HYPE) has launched the Hyperliquid Policy Center, a new lobbying group headed by prominent crypto lawyer Jake Chervinsky, Fortune Crypto reported. The Hyperliquid Foundation has committed $28 million worth of HYPE tokens to fund the center's initial operations and activities. Through the new center, the foundation aims to establish a legal path for the mass adoption of DeFi. Chervinsky criticized the current DeFi regulatory framework, stating that he would work to create regulations that could integrate decentralized finance into the existing financial system.

U.S. cryptocurrency investors are facing confusion over new tax rules from the Internal Revenue Service (IRS), CoinDesk reported. According to a survey of 1,000 investors by crypto tax platform Awaken Tax, more than half of respondents fear they will be charged additional taxes by the IRS following the introduction of new transparency regulations. In response, exchanges such as Coinbase have begun issuing reports that help identify original acquisition costs. The outlet added that the responsibility of proving missing acquisition costs and accurately calculating capital gains now falls entirely on the taxpayer, which is expected to place a significant administrative burden on tens of millions of crypto investors in the U.S.

Sports-focused prediction market platform Novig has raised $75 million in a Series B funding round led by Pantera Capital, Fortune Crypto reported. The round values the company at $500 million. Unlike existing prediction markets such as Kalshi and Polymarket, which focus on political and economic events, Novig is concentrating on the sports market. The platform operates on a revenue model that charges fees to institutions instead of general users and aims to receive formal operating approval from the U.S. Commodity Futures Trading Commission (CFTC) within approximately six months.

Cryptocurrency market funds that had shifted to altcoins are now moving back into Bitcoin, crypto analyst Darkfost wrote in a CryptoQuant post. Citing an analysis of Binance trading data, Darkfost noted that the altcoin trading volume share fell from a high of 59.2% in November to 33.6% as of Feb. 13. In contrast, on Feb. 7, BTC's trading volume share was 36.8%, Ethereum's was 27.8%, and altcoins' was 35.3%. He explained that an identical pattern was observed during market corrections in October 2022, August 2024, and April 2025. "Investors are returning to the relatively stable BTC to preserve assets during times of market stress, which is also consolidating its dominance," he said. This development follows an earlier report from Decrypt which stated that investors were turning to the altcoin market for speculative opportunities while BTC was moving sideways.

The United States has been pushed to the brink of war with Iran, Walter Bloomberg reported. The Trump administration had previously warned of a potential large-scale attack, citing the possibility of a clash with Iran. Nuclear negotiations between the two countries are currently at a stalemate, and the U.S. has deployed significant military forces, including aircraft carriers and warships, near Iran. Walter Bloomberg added that with troops deployed and no breakthrough in sight for the nuclear talks, the risk of military action is rising.

An address presumed to belong to BlackRock has deposited 2,494.6 BTC, worth approximately $168.39 million, to Coinbase, according to a report from Onchain Lens. Deposits to exchanges are generally interpreted as a precursor to selling. In this case, the transfer is likely part of the operational management of BlackRock's spot Bitcoin ETF, IBIT, to settle redemptions stemming from fund outflows. Onchain Lens added that further deposits are possible.

Milo, a company specializing in crypto-backed home loans, has surpassed $100 million in total loan originations and recently completed its largest-ever single loan of $12 million, CoinDesk reported. The company offers loans of up to $25 million backed by Bitcoin or Ethereum, allowing borrowers to purchase homes, buy land, renovate properties, or invest in businesses without selling their crypto assets. Interest rates start at 8.25%. Milo is currently licensed to provide loans in 10 U.S. states.

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