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The U.S. Internal Revenue Service (IRS) has proposed a plan to grant crypto exchanges like Coinbase and Kraken the authority to issue tax documents electronically, The Block reported. Previously, exchanges were required to offer users the option to receive paper copies, but this proposal would remove that obligation, allowing for electronic-only issuance. This change is in line with the cryptocurrency transaction reporting system implemented this year, which requires brokers, including exchanges, to report gross proceeds and cost basis from cryptocurrency sales to the IRS. The agency plans to use this data for taxation. The proposal will be discussed for implementation following a public comment period.

The U.S. Federal Bureau of Investigation (FBI) has arrested John Daghita for allegedly stealing $46 million in cryptocurrency that had been seized and was under the management of the U.S. Marshals Service (USMS), Aggr News reported. Daghita, who operated under an online alias, is the son of the president of CMDSS, a firm contracted by the USMS to manage government assets. He is accused of transferring the cryptocurrency from USMS custody to his personal wallet and then attempting to launder it. On-chain analyst ZachXBT had previously exposed Daghita's alleged activities in a post on X this past January.

An address associated with crypto market maker Flowdesk deposited 1.61 million LINK ($15.19 million) and 6,091 ETH ($12.92 million) to Binance over the past 20 minutes, according to Onchain Lens. The total value of the deposit is approximately $28 million. Such transfers to exchanges are often interpreted as a precursor to selling.

According to CoinNess market monitoring, BTC has fallen below $72,000. BTC is trading at $71,959.47 on the Binance USDT market.

Glassnode reported that Bitcoin spot ETF fund flows are showing signs of stabilizing after a period of sustained outflows. The firm noted that netflow turned positive again on Feb. 14 as Bitcoin broke through the $70,000 mark, suggesting that selling pressure is easing. While demand from institutional investors remains uncertain, the analysis concluded that early signs of accumulation are emerging.

The three major U.S. stock indices opened lower today. - S&P 500: -0.45% - Nasdaq: -0.40% - Dow Jones: -0.80%

Cryptocurrency mining firm Core Scientific (CORZ) has announced it secured up to $1 billion in strategic financing from Morgan Stanley. The agreement includes an initial 364-day loan commitment of $500 million, with an accordion option to increase the amount by an additional $500 million subject to certain conditions. Core Scientific recently announced a strategic shift to become an AI data center infrastructure company and revealed that it sold 1,900 BTC ($175 million) in January.

Institutional investors have not engaged in panic selling during the initial stages of Bitcoin's decline, according to a report from European crypto asset manager CoinShares. CoinDesk reported that while professional investors and asset managers have slightly reduced their exposure and hedge funds have deleveraged to move into other markets, their overall positions have remained at levels similar to last year. The report added that long-term investors, including endowments, pension funds, and sovereign wealth funds, are continuing to quietly accumulate BTC.

Cryptocurrency exchange BackPack announced it has appointed Mark Wetjen, a former Commodity Futures Trading Commission (CFTC) Commissioner and Acting Chairman, as president of its U.S. entity.

Tether, the issuer of USDT, announced a strategic investment in the global payments infrastructure company Axiym. Axiym aims to build a global decentralized finance and settlement infrastructure within a regulatory framework. The company also plans to expand the circulation of USDT by natively integrating USDT-based payments.

Iran has attacked a U.S. military headquarters in Erbil, Iraq, with drones, Walter Bloomberg reported.

Whale Alert reported that 2,625,767 SOL has been unlocked from escrow at an unknown wallet.

Whale Alert reported that 2,318,449 SOL has been unlocked from escrow at an unknown wallet.

New U.S. weekly jobless claims totaled 213,000 for the week of Feb. 22–28, coming in below the forecast of 215,000. The weekly jobless claims figure is a key indicator the Federal Reserve uses to assess the labor market when making interest rate decisions. A higher-than-expected number signals an increase in layoffs, suggesting a cooling labor market and potentially providing the Fed with a reason to cut interest rates. Conversely, a lower-than-expected figure points to a robust labor market, which could support the Fed's decision to hold or raise rates to focus on curbing inflation.

London-based neobank Revolut has applied for a banking license with the U.S. Office of the Comptroller of the Currency (OCC), CoinDesk reported. If granted, the license would allow Revolut to operate in the U.S. in a manner similar to a traditional bank, giving it direct access to the Federal Reserve's (Fed) payment systems, including Fedwire and the Automated Clearing House (ACH). The company would also be able to offer lending products such as credit cards and personal loans. Revolut currently provides account and payment services in the U.S. through its partner, Lead Bank.

Bitcoin may be forming a bottom around $60,000 and could be poised for a technical trend reversal, according to analysts. Cointelegraph reports that crypto analyst Jelle noted an Adam and Eve pattern, a type of double bottom, is appearing on the BTC/USD 12-hour chart. This pattern is interpreted as a bullish signal indicating a potential shift from a downtrend to an uptrend. Jelle assessed that for the bullish momentum to continue, Bitcoin must hold the $70,000 level, warning that failure to maintain this support could lead to a significant increase in volatility. Separately, Nic Puckrin, CEO of Coin Bureau, explained that the Bitcoin-to-gold price ratio (BTC/XAU) has been in a downtrend for 13 months since its peak in December 2024. He pointed out that in the past three cycles, it took approximately 14 months for the ratio to move from its peak to the bottom, a timeline that has generally coincided with bear market bottoms.

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), has invested in OKX, Fortune reported. The investment was made at a valuation of $25 billion.

Binance announced it will list OPN perpetual futures at 1:00 p.m. UTC on March 5.

Cryptocurrency trading platform InsightX announced via X that it now supports a service to visualize holder distribution and identify potential supply risks for tokens issued on the Sui network.

Mitsubishi UFJ Financial Group (MUFG), one of Japan's three largest banks, has announced a joint proof-of-concept test for stablecoins with Mizuho Bank and Sumitomo Mitsui Banking Corporation (SMBC), Cointelegraph reported.

Digital asset manager Apollo Crypto is set to manage mEVUSD, a USDC-based tokenized product, The Block reported. The product was jointly developed by non-custodial staking infrastructure provider Everstake and on-chain investment platform Midas. mEVUSD is designed with a strategy to generate yield from idle stablecoin funds. It focuses on minimizing market directional risk by pursuing profits from financial and interest rate spreads rather than betting directly on cryptocurrency price appreciation. The target annual yield is between 7% and 12%.

Whale Alert reported that 850,000,000 USDT has been transferred from Aave to HTX. The transaction is valued at about $850 million.

Board members of American Bitcoin (ABTC), a Bitcoin mining firm involving President Donald Trump's sons Donald Trump Jr. and Eric Trump, have purchased a significant amount of company stock, CoinDesk reported. According to a filing, Justin Mateen, a co-founder of Tinder who joined the ABTC board in March 2025, bought approximately 130 shares. Another board member, Richard Busch, a partner at the law firm King & Ballow, acquired 330,000 shares. The transactions are notable as they are the first purchases made shortly after the insider trading window opened following the company's recent earnings announcement.

A Coinbase shareholder has filed a lawsuit against the company's executives and directors for alleged failures in compliance and disclosure oversight, Cointelegraph reported. The defendants include Coinbase CEO Brian Armstrong, co-founder Fred Ehrsam, and Chief Legal Officer Paul Grewal. The plaintiff claims that from the company's direct listing in April 2021 until June 2023, it provided investors with false or misleading information. The suit also points out that these oversight failures ultimately led to regulatory sanctions. In early 2023, Coinbase reached a $100 million settlement with the New York State Department of Financial Services over deficiencies in its anti-money laundering systems. Separately, it was fined $5 million by New Jersey for listing unregistered securities.

According to CoinNess market monitoring, BTC has risen above $73,000. BTC is trading at $73,077.13 on the Binance USDT market.