Crypto World
China formalizes sweeping ban on crypto trading and RWA tokenization
China has moved to lock down virtually all crypto and real‑world asset (RWA) tokenization activity, issuing a new notice that declares such operations illegal financial activity and extends liability across the entire service stack.
Summary
- A joint PBoC notice declares Bitcoin, Ether, Tether and similar tokens lack legal tender status and brands all virtual‑currency business activity as illegal finance to be “resolutely banned”.
- RWA tokenization is swept into the same risk bucket, with onshore issuance and trading prohibited absent explicit approval and offshore entities barred from serving mainland users.
Core of the new notice
The joint circular from the People’s Bank of China (PBoC) and seven other ministries states bluntly that “virtual currency does not have the same legal status as legal tender” and that tokens such as “Bitcoin, Ether, Tether…do not have legal compensation and shall not and cannot be used as currency in the market.” All “virtual currency‑related business activities” — including fiat–crypto exchange, crypto–crypto trading, market‑making, information intermediation, token issuance and crypto‑linked financial products — “are illegal financial activities” and are to be “strictly prohibited” and “resolutely banned.”
Real‑world asset tokenization is folded into the same risk bucket. Authorities define RWA tokenization as converting ownership or income rights into tokens for issuance and trading, and warn that such activities in China “shall be prohibited” unless explicitly approved on designated financial infrastructure. Offshore entities are also barred from “illegally providing…RWA tokenization‑related services” to onshore users.
Enforcement, mining and offshore routes
The notice hardens the multi‑agency framework first laid out in 2021’s Yinfa No. 237, which labeled key crypto activities as illegal and banned offshore exchanges from serving mainland clients. Financial institutions and payment firms are now forbidden from opening accounts, transferring funds, settling, custoding, or insuring any virtual‑asset‑linked product. Internet platforms may not provide “online business venues, commercial displays, marketing, traffic‑buying or paid promotion” for crypto or RWA services and must help shut down relevant websites, apps and public accounts.
Beijing also renews its campaign against mining, ordering provinces to “comprehensively identify and shut down existing virtual currency ‘mining’ projects” and “strictly prohibit” any new capacity. On offshore structuring, regulators apply a “same business, same risk, same rules” principle: domestic entities and the overseas vehicles they control may not issue virtual currencies or conduct RWA‑style securitizations based on onshore assets without prior approval, filing or registration.
Market context and price action
The clampdown lands in a market where global traders continue to treat digital assets as high‑beta macro risk. Bitcoin (BTC) trades near $66,005, down roughly 7.9% over the last 24 hours. Ethereum (ETH) changes hands around $1,890, lower by about 11.6% on the day. Solana (SOL) sits near $77.8, off approximately 15.4% in 24‑hour terms.
The notice takes immediate effect and simultaneously repeals the landmark 2021 circular on virtual‑currency speculation, signaling that China’s stance has shifted from episodic crackdowns to a durable, high‑pressure regime designed to “maintain economic and financial order and social stability” and leave no grey zone for crypto or RWA experimentation.
Crypto treasury firm Trend Research has sharply reduced its Ether position following the recent market downturn, moving large amounts of ETH to exchanges as it works to service outstanding debt.
Key Takeaways:
- Trend Research sold over 400,000 ETH and moved large holdings to exchanges to manage debt after the price drop.
- Ether’s nearly 30% weekly decline pushed leveraged positions close to liquidation thresholds.
- The downturn is also hitting other corporate ETH treasuries, highlighting risks of concentrated crypto holdings.
Blockchain data shows the firm held roughly 651,170 Ether on Sunday in the form of Aave-wrapped ETH. By Friday, the balance had fallen to about 247,080 ETH, a drop of more than 404,000 tokens in less than a week.
Onchain analytics platform Arkham reported that 411,075 ETH has been transferred to Binance since the start of the month.
Ether Drops Nearly 30% in a Week Before Partial Rebound
The movements coincided with a steep decline in Ether’s price, which slid nearly 30% over the past week to a low near $1,748 before recovering to around $1,967.
Trend Research built its position using a leveraged strategy. The company, linked to Liquid Capital founder Jack Yi, purchased Ether and posted it as collateral on the lending protocol Aave to borrow stablecoins, then used the borrowed funds to buy additional ETH.
The falling market has placed the position under pressure. According to Lookonchain, the firm faces several potential liquidation levels between $1,698 and $1,562, meaning further price declines could trigger automatic collateral sales on the lending platform.
Yi acknowledged in a post on X that his earlier call on the market bottom came too soon but said he remains optimistic and will continue managing risk while waiting for a recovery.
Trend Research first drew attention after the $19 billion crypto liquidation cascade in October 2025, when it began aggressively accumulating Ether.
At one point in December, the firm would have ranked among the largest holders of ETH globally, although it does not appear on most public corporate treasury trackers because it is privately held.
BitMine’s $7B Paper Loss Tests Corporate Ethereum Treasury Strategy
BitMine Immersion Technologies, led by Fundstrat’s Tom Lee, is also under pressure after Ether’s sharp decline pushed the company deep into unrealized losses.
With roughly 4.28 million ETH on its balance sheet, the firm is sitting on more than $7 billion in paper losses after the token fell near $2,100.
The company had accumulated its holdings at much higher prices, making it one of the largest single-asset corporate bets in crypto.
The firm shifted from Bitcoin mining to an “Ethereum-first” treasury model in 2025, buying ETH at an estimated $3,800–$3,900 average.
The market downturn has dragged down both its portfolio and stock price, drawing comparisons to Michael Saylor’s Bitcoin-heavy Strategy, which is also facing sizable unrealized losses.
Analysts say both companies highlight the risk of concentrated crypto treasury strategies tied to volatile assets.
Despite the drawdown, Lee remains confident. He argues Ethereum’s fundamentals are strengthening, pointing to record transaction activity and rising active addresses.
The company now holds about 3.55% of Ethereum’s supply and is targeting 5% while expanding staking operations.
Nearly $6.7 billion worth of ETH is staked, and BitMine plans to launch its Made in America Validator Network in 2026.
The post Trend Research Slashes Ether Holdings After Market Crash to Repay Loans appeared first on Cryptonews.
Bitcoin price entered Friday under pressure as $2.1 billion in options contracts approach expiry.
Summary
- A large Bitcoin options expiry is approaching with limited upside support.
- Most call positions sit far above current prices, reducing hedging demand.
- Traders are watching whether $60K can hold after the contracts settle.
Bitcoin is facing another key test as a large batch of derivatives contracts reaches maturity. Bitcoin options worth about $2.1 billion are set to expire at 8:00 a.m. UTC on Feb. 6, according to data from Deribit.
About 34,000 contracts are covered by the expiry, which comes at a time when market sentiment is still shaky. Call options still outnumber puts, as shown by the put-to-call ratio, which is close to 0.60.
This implies that a large number of traders had positioned themselves for higher Bitcoin (BTC) prices in earlier weeks. The so-called max pain level, where most option buyers would lose money, sits around $80,000. That level is well above current market prices.
Ethereum (ETH) options worth about $390 million are also expiring alongside BTC options. These contracts have a put-to-call ratio of 1.01 and a max pain level near $2,450.
Bitcoin has struggled to regain its footing after dropping to an intraday low of $60,286, later stabilizing in a narrow $63,000–$65,000 range. Due to a mix of forced liquidations and widespread rotation from risk assets, the cryptocurrency is now nearly 50% below its 2025 high of above $126,000.
How Bitcoin options expiry could affect price
While many put options are already profitable, the majority of call options are far out of the money with max pain close to $80,000.This setup limits the usual pull toward the max pain level that sometimes appears around major expiries.
In simple terms, dealers and large traders have little incentive to push prices higher to protect call positions. At the same time, there is limited pressure to buy Bitcoin for hedging purposes. As a result, price action after the expiry may stay soft and follow the existing trend.
If selling pressure continues, the market could drift back toward nearby support levels rather than stage a strong rebound.
Analysts are watching the $60,000 area closely. This zone has acted as short-term support during recent sell-offs. A sustained break below it could deepen losses, while a firm hold may allow for a temporary bounce.
Bitcoin price technical analysis
Bitcoin has clearly broken below the 100-day moving average, which served as trend support for the majority of 2025. Several recovery attempts failed near $83,000, showing strong selling interest at higher prices.
The price structure has now flipped lower following a range breakdown and a clear lower high. As Bitcoin fell below the lower Bollinger Band, the decline accelerated, suggesting disorderly selling rather than consistent profit-taking.
The weakness is confirmed by momentum indicators. The relative strength index fell below levels observed in previous cycles, approaching 20. No bullish divergence has appeared, and many sessions closed near their lows. This suggests limited interest from dip buyers.
A former support zone around $75,000 failed to hold. With that area broken, attention has shifted to the $60,000 level as the next major psychological support.
If $60,000 holds on a daily close, short-term relief rallies could develop as selling pressure eases. In that case, price may move toward the $70,000 to $75,000 range, where past support has turned into resistance. Without a recovery above the 100-day average near $83,000, such moves would likely stay corrective.
If $60,000 breaks and price settles below it, the market could open the path toward the mid-$50,000 region. Under that scenario, downside momentum would remain intact, and sentiment-driven rebounds may struggle until the overall structure improves.
“It will get worse, it will get redder,” Charles Hoskinson warned.
Cardano’s ADA plunged by double digits in the past seven days, in line with the bloodbath that covered the entire crypto market.
The question now is whether the price is headed for a further slump or a much-needed recovery.
What’s Next?
On Friday morning, ADA nosedived to around $0.22 (per CoinGecko’s data), the lowest level since June 2023. The renowned analyst Ali Martinez outlined three important support levels where the asset could find buyers if the sell-off continues. The first line is $0.249, the second is $0.115, and the third is the extreme case at $0.053.
As shown in the chart below, there was a brief breakdown below the $0.249 support level, but bulls regained some lost ground, and ADA currently trades at approximately $0.26.
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ADA Price, Source: CoinGecko
Some industry participants expect further recovery and even a major rally in the future. X user CryptoPatel claimed that ADA is at the exact level that triggered a huge pump years ago, wondering if history is about to repeat. They set a short-term target at $0.40, followed by a “full cycle extension” to above $3. However, the analyst warned that a weekly close below $0.10 would invalidate the setup.
X user Sssebi chipped in, too, noting that ADA has never been this oversold on the weekly timeframe in its entire history. According to CryptoWaves, the Relative Strength Index (RSI) has fallen to around 28 on that scale, matching the lowest mark witnessed in 2019.
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ADA RSI, Source: CryptoWaves
The technical analysis tool measures the speed and magnitude of recent price changes and can indeed help traders determine whether the asset is oversold or overbought. Ratios below 30 signal that the valuation has plunged too rapidly over a short period, suggesting it could be on the verge of a resurgence, while anything above 70 is considered a bearish zone.
ADA’s exchange netflow also hints that stabilization may be on the horizon. Data from CoinGlass shows that outflows have dominated inflows over the past several weeks and months, indicating that investors continue to move their holdings from centralized platforms to self-custody. This usually results in reduced selling pressure.
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ADA Exchange Netflow, Source: CoinGlass
Hoskinson’s Crucial Losses
Cardano’s founder, Charles Hoskinson, reported losing over $3 billion due to the market decline. He predicted that the prices may continue plunging, but at the same time gave investors some inspirational guidance that may help them pass through the turbulent times:
“Don’t let the markets get you down. It will get worse, it will get redder, it is what it is. But at the end of the day, are you having fun? Find a way to. And know that each and every one of you in the cryptocurrency space, you are doing something that matters, you are doing something that has the potential to change the world.”
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Veteran trader Peter Brandt said Bitcoin could be approaching a potential downside floor, arguing that past bear market patterns suggest losses may be limited from current levels.
Summary
- Veteran trader Peter Brandt said Bitcoin may be nearing a downside floor, pointing to past bear market cycles that suggest losses could be limited near the $42,000 level.
- Brandt referenced a long-term “banana peel” support zone on his chart, which has historically marked areas where Bitcoin’s deepest drawdowns struggled to extend further.
- The comments come amid a broader crypto market downturn, with Bitcoin and major altcoins under sustained selling pressure.
“If Bitcoin digs into the banana peel as deeply as in past bear market cycles, then the bulls should not need to suffer too far south of $42,000,” Brandt wrote on X. “We are a hop, skip and jump from there.”
Brandt accompanied the post with a long-term Bitcoin (BTC) chart showing price action relative to what he describes as a “banana peel” support zone, a curved lower boundary that has historically contained Bitcoin’s deepest drawdowns.
Brandt’s “banana peel” metaphor refers to the slippery downside zone, where price can slide quickly but has historically struggled to sustain deep breaks below it.
In the current cycle, that lower boundary sits near the $42,000 level, implying Bitcoin may be nearing a historically significant area of support.
Brandt flags Bitcoin ‘campaign selling’ in prior warning
Brandt’s latest post follows a separate tweet from the previous day, in which he said Bitcoin’s recent price action appeared to reflect “campaign selling” rather than retail-driven capitulation.
In that earlier post, Brandt pointed to a multi-day pattern of lower highs and lower lows, suggesting that large, coordinated sellers may be driving the decline. He added that similar patterns have appeared in past market cycles, though timing a bottom remains uncertain.
Together, the two tweets frame a cautious outlook: further downside may be possible, but historical behavior could limit how far prices fall.
The comments come as Bitcoin continues to slide alongside a broader crypto market downturn, with prices under pressure across major digital assets. Major altcoins have followed Bitcoin lower, amplifying losses across the sector.
Vietnam is preparing to introduce a tax framework for cryptocurrency transactions that would align digital assets with securities trading, according to a draft policy circulated by the Ministry of Finance.
Under the proposal, individuals transferring crypto assets through licensed service providers would face a 0.1% personal income tax on the value of each transaction, local outlet The Hanoi Times reported. The structure mirrors the levy currently applied to stock trades in the country.
According to the report, the draft circular, released for public consultation, classifies crypto transfers and trading as exempt from value-added tax. However, the turnover-based tax would apply to investors regardless of residency status whenever a transfer is executed.
Companies operating in Vietnam would be taxed differently. Institutional investors earning income from crypto transfers would be subject to a 20% corporate income tax, calculated on profits after deducting purchase costs and related expenses, per the report.
Related: No companies apply for Vietnam crypto pilot amid high barriers
Vietnam formally defines crypto assets
Authorities also reportedly provided a formal definition of crypto assets, describing them as digital assets that rely on cryptographic or similar technologies for issuance, storage and transfer verification.
The draft also outlines strict requirements for operators. Firms seeking to run a digital asset exchange would need at least 10 trillion Vietnamese dong (about $408 million) in charter capital, a threshold higher than that required for commercial banks and far above capital standards in many other industries. Foreign ownership would be permitted but capped at 49% of an exchange’s equity.
The proposed rules come as Vietnam began a five-year pilot program for a regulated crypto asset market launched in September 2025. On Oct. 6, 2025, Vietnam’s Ministry of Finance confirmed that no companies had applied to participate in the five-year crypto pilot at that time, citing high capital requirements and strict eligibility conditions.
Related: Vietnam central bank expects credit growth amid rapid crypto adoption
Vietnam opens licensing for crypto exchanges
Last month, Vietnam started accepting applications for licenses to operate digital asset trading platforms, marking the operational launch of its planned pilot program for a regulated crypto market.
“Applications for the aforementioned administrative procedures will be accepted beginning January 20, 2026,” the State Securities Commission of Vietnam (SSC) said, framing the move as part of a broader effort to bring crypto under formal regulatory oversight.
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Top AI-focused cryptos like TAO, NEAR, ICP, and RENDER faced losses surpassing 20% as investor demand in the sector fell amid concerns surrounding Big Tech’s growing bets on AI infrastructure.
Summary
- The combined market cap of all AI cryptocurrencies nosedived by over 40% on Friday.
- Concerns over massive AI-related spending by Big Tech companies have spooked investors.
According to data from CoinGecko, Bittensor (TAO), the largest AI-focused cryptocurrency with a market cap of $1.58 billion, fell 23% over the past 7 days, exchanging hands at $164 at press time. Near Protocol (NEAR) fell 25.4% while Internet Computer (ICP) and Render (RENDER) posted similar losses over the weekly period.
The entire AI crypto market has shown no signs of recovery or stabilization, recording over 42% losses in the past 24 hours alone as its total valuation fell to roughly $12 billion.
TAO and other top AI coins fell as investors remain concerned after reports from Big Tech giants like Alphabet and Amazon revealed a massive jump in AI investments for 2026, which could balloon up to $500 billion, according to recent estimates.
Investors fear that the astronomical costs of AI development will erode margins before monetization is realized, especially since recent earnings reports from these companies highlighted a significant gap between infrastructure spending and actual profit generation.
As these concerns grew louder across the broader financial markets, it triggered a sell-off in AI-linked software stocks such as Microsoft and AI chipmaking giants like AMD and Nvidia. Notably, Microsoft shares stood over 8% lower in the past five days, while chip-making giants AMD and Nvidia shares were down 18.5% and 10%, respectively, over the same period.
These chipmaking and software firms are the backbone of the hardware and processing power that is used to run the decentralized networks of most of the projects in the AI crypto space.
Notably, Bittensor relies on high-performance GPU clusters to facilitate its competitive machine learning model training, while Near Protocol is a highly scalable blockchain designed to support the intensive data demands of AI applications. Meanwhile, Internet Computer provides the sovereign cloud infrastructure required to host autonomous AI agents, and Render offers the decentralized computing power essential for complex graphical and AI rendering tasks.
Aside from the mounting anxiety over capital expenditures, AI tokens have also been weighed down by massive liquidations across the crypto market that came from Bitcoin’s dramatic plunge below multiple key support levels and a confluence of macroeconomic and geopolitical concerns that have driven risk-on sentiment away from speculative assets.
As previously reported by crypto.news, Bitcoin (BTC) price briefly fell by over 18% on Thursday as it touched nearly $60K levels, which triggered nearly $2.6 billion in liquidations across leveraged markets as market fear reached levels last seen during the collapse of the Terra blockchain nearly four years ago.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
BlackRock’s spot Bitcoin ETF attracted $231.6 million in inflows on Friday, signaling a tentative rebound after a week marked by pronounced volatility in cryptocurrency markets. The broader week featured outsized moves in Bitcoin-linked ETFs, with the iShares Bitcoin Trust ETF (IBIT) absorbing $548.7 million in net outflows on Wednesday and Thursday as sentiment sagged and Bitcoin briefly dipped toward $60,000, according to data cited by market observers. Preliminary figures from Farside indicate nine U.S.-based spot Bitcoin ETF products together drew $330.7 million in net inflows after a three-day stretch that saw $1.25 billion leave the sector. Bitcoin was hovering around $69,820 as the week closed, down roughly a quarter over the prior 30 days.
Key takeaways
- Friday’s inflows into BlackRock’s spot BTC ETF coincided with a bigger pullback earlier in the week, underscoring a split in the market between risk-off pressure and renewed interest in regulated Bitcoin exposure.
- Across nine U.S.-listed spot Bitcoin ETFs, inflows totaled $330.7 million after three days of heavy outflows totaling about $1.25 billion, signaling a potential shift in investor appetite or a pause in forced selling.
- The iShares Bitcoin Trust ETF (IBIT) faced a volatile week, including a 13% one-day drop on Friday—the second-worst daily decline since launch, with a 15% drop on May 8, 2024 representing the record worst day to date.
- IBIT’s price action on Friday showed a strong rebound, closing up about 9.92% on the session, as momentum in the underlying market remained volatile but constructive for some ETF holders.
- Bitcoin’s price path remains turbulent, with a 30-day decline of around 24.3% and broad price support appearing only in pockets of the market and among specific ETF inflows, rather than across the board.
Tickers mentioned: $BTC, $IBIT
Sentiment: Bearish
Price impact: Neutral. The week’s mixed inflows and outsized ETF moves did not yield a clear, sustained price direction for Bitcoin itself, though ETF prices reacted sharply in intraday moments.
Trading idea (Not Financial Advice): Hold. The data show episodic inflows and outsized volatility, suggesting the landscape remains uncertain and better suited to patience than aggressive positioning.
Market context: The week’s ETF flows illustrate how investors are evaluating regulated Bitcoin exposure as a risk-t sentiment remains sensitive to macro headlines, regulatory signals, and shifts in liquidity. Net inflows in a handful of products come as broader crypto liquidity and ETF participation continue to evolve, with flows often diverging from spot price moves.
Why it matters
The ebb and flow of ETF-based money into Bitcoin reflects more than mere trading appetite; it reveals how institutional participants are testing the waters of regulated exposure in a market that has historically traded in less centralized venues. The rebound in Friday inflows into BlackRock’s spot BTC product indicates that some investors view these listed vehicles as a credible bridge to the crypto ecosystem, offering transparency, daily liquidity, and the potential for on-exchange settlement that can align with traditional risk controls.
Yet the week’s broader narrative remains unsettled. IBIT’s swift 13% drop on Friday and its earlier record of a 15% single-day decline underscore how quickly sentiment can swing in the current regulatory environment and amid ongoing price volatility. The outflow pressures on Wednesday and Thursday, followed by the weekend’s rebound, suggest a tug-of-war: traders weighing the relative value of direct Bitcoin ownership versus regulated ETF access, while assessing the implications of liquidity and market structure on price formation.
Bitcoin itself traded near $69,820 at the time of publication, after a 30-day period marked by a roughly 24% decline. As broader market liquidity fluctuates, ETF inflows may provide temporary relief or a counterbalance to price moves driven by macro forces, miner dynamics, and persistent concerns around regulatory clarity. The data also highlight how ETF volumes can produce meaningful reflections of investor sentiment, even when spot prices remain volatile. In this context, the $10 billion daily volume record cited for IBIT on Thursday underscores that exchange-traded exposure remains a focal point for both professional and retail participants, even as price volatility persists.
On the back of Thursday’s activity, industry observers noted that the Bitcoin ETF space has not yet shown a consistent, durable upward momentum in price, even as inflows resume. ETF analyst James Seyffart pointed out that holders of Bitcoin ETFs have recorded notable paper losses since the U.S. market launched these products in January 2024, with losses around 42% when Bitcoin traded below the high-water marks of the year. Nevertheless, the latest inflows point to continued investor interest in regulated access, even as the broader price backdrop remains in flux.
What to watch next
- Monitor next week’s ETF-only inflow/outflow data to gauge whether the current rebound persists across the larger basket of spot BTC ETFs.
- Track Bitcoin’s price action in relation to key support and resistance levels to assess whether ETF flows translate into sustained price momentum.
- Watch regulatory developments and comments from market authorities that could influence the appetite for regulated Bitcoin exposure.
- Follow volume dynamics in the IBIT and other spot BTC ETFs as traders test liquidity and arbitrage opportunities in the current market environment.
- Assess new fund launches or product changes that broaden access to Bitcoin exposure through traditional market channels.
SOURCES & verification
- Farside data on net inflows across nine U.S.-based spot Bitcoin ETF products and the week’s aggregate outflows.
- Bloomberg ETF analyst Eric Balchunas’s notes on IBIT’s daily volume and price movements.
- CoinMarketCap price data for Bitcoin around the time of publication.
- Google Finance price data for IBIT and related ETF pricing behavior.
CZ says Binance is working with governments to launch local-currency stablecoins, widening stablecoin options beyond dollar-pegged tokens.
Summary
- CZ says Binance is working with “more countries” on stablecoins pegged to national currencies via X post.
- Shift aims to move beyond USDT- and USDC-style dollar dominance toward a multi-fiat stablecoin landscape on-chain.
- Analysts say local stablecoins could reshape regulation and payments as banks, fintechs, and exchanges join these projects.
Binance founder Changpeng Zhao announced the cryptocurrency exchange is collaborating with multiple countries on issuing stablecoins pegged to local currencies, according to a post on the X platform.
Zhao stated the stablecoin ecosystem should not be limited to dollar-based products, writing that Binance is “working with more countries and supporting each country in issuing stablecoins pegged to their own national currency.”
The executive indicated support for multiple fiat stablecoins on blockchain networks, stating “each fiat currency should be represented on the chain,” according to the social media post.
The announcement comes amid intensifying regulatory debates in the stablecoin market, where US dollar-pegged stablecoins currently maintain dominant market positions. Dollar-based stablecoins have served as primary liquidity and transfer mechanisms in cryptocurrency markets in recent years.
Multiple nations have expressed interest in establishing digital asset infrastructure based on domestic currencies for payment systems and cross-border transfers, according to industry observers.
Cryptocurrency market analysts indicate the proliferation of local currency stablecoins could increase market diversity and influence regulatory approaches across different jurisdictions. Banks, financial technology companies, and major cryptocurrency exchanges are expected to play significant roles in this development.
The statement signals Binance’s intention to expand beyond global dollar stablecoins into projects bringing additional fiat currencies to blockchain platforms, according to Zhao’s announcement.
Marathon Digital Holdings, one of the largest publicly traded Bitcoin mining companies, has recently executed a significant on-chain movement of Bitcoin worth roughly $87 million amid a broader sell-off in crypto markets.
Summary
- Marathon Digital moved 1,318 BTC worth about $87 million over a 10-hour period, with funds sent to institutional counterparties, custodial wallets, and a newly created address, according to Arkham data.
- The transfers came amid a sharp pullback in Bitcoin prices, which briefly dipped toward $60,000, increasing pressure on bitcoin miners.
- The on-chain activity coincided with a nearly 19% drop in MARA shares in a single Nasdaq session, adding to investor unease across the mining sector.
The activity, captured by on-chain analytics firm Arkham, coincided with a sharp drop in Bitcoin’s (BTC) price and a steep decline in MARA’s stock.
Large BTC transfers spark market speculation
Over a roughly 10-hour period, Marathon Digital moved 1,318 BTC, valued at approximately $86.9 million at the time of transfer, from miner wallets to a mix of trading desks, custodial services, and other wallet addresses.
According to Arkham data, the largest transfer involved 653.773 BTC, worth about $42 million, sent to an address associated with institutional services provider Two Prime. Additional transfers included 200 BTC and 99.999 BTC to wallets linked to BitGo, totaling roughly $20.4 million.
Another 305 BTC, valued at about $20.7 million, was moved to a newly created wallet whose ownership remains unknown.
These on-chain moves drew attention because such large BTC movements during a market downturn are often interpreted as potential precursor actions to sales, hedging, or collateral posting.
The timing of the transfers came amid notable weakness in Bitcoin prices, which briefly dipped toward the $60,000 range before trading in the mid-$60,000s.
The on-chain activity also added to investor unease as Marathon Digital’s shares plunged. MARA stock fell nearly 19% in a single session on Nasdaq amid mounting pressure on bitcoin miners.
Though large transfers from miner wallets often trigger speculation, they don’t necessarily equate to immediate spot sales on exchanges. Institutional counterparties, lending arrangements, and collateralized trading strategies can all require BTC movements without marking direct liquidation.
IBIT’s heavy Bitcoin flows and rising institutional demand collide with growing “harvest now, decrypt later” fears and BMIC’s push for post-quantum wallet security.
Summary
- BlackRock’s iShares Bitcoin Trust now holds about 764,893 BTC, or roughly 3.64% of the eventual 21 million supply, intensifying focus on centralization and key management.
- Security researchers warn of “harvest now, decrypt later” attacks, where adversaries stockpile today’s encrypted blockchain data for future quantum decryption once ECC is broken.
- BMIC’s presale pitches a “Quantum Meta-Cloud” with ERC‑4337 smart accounts and signature‑hiding wallets that keep public keys off‑chain to mitigate future quantum attacks.
BlackRock’s iShares Bitcoin Trust recorded substantial daily trading volume, according to Nasdaq data, as digital asset security concerns related to quantum computing threats gain attention among institutional investors.
The trading volume spike occurred without a corresponding price decline, a pattern market analysts characterize as a transfer of holdings from retail investors to institutional buyers, according to industry observers. The development suggests Bitcoin’s evolving role in institutional portfolios as a macro hedge asset.
The concentration of digital asset wealth through centralized issuers has raised concerns about vulnerabilities in current cryptographic standards. Elliptic Curve Cryptography (ECC), the encryption method protecting most cryptocurrency assets, faces potential obsolescence with advances in quantum computing technology, according to cybersecurity experts.
Security researchers have identified a threat vector known as “harvest now, decrypt later,” in which encrypted data is collected for future decryption once quantum computing capabilities mature. Nation-state actors are reportedly employing this strategy, according to cybersecurity analysts.
BMIC, a blockchain security project, has positioned itself to address quantum computing threats to cryptocurrency holdings. The project has raised undisclosed funds during its presale phase, according to company announcements.
The protocol utilizes what the company describes as a “Quantum Meta-Cloud” and AI-enhanced threat detection systems designed to prevent public key exposure during transactions. Traditional cryptocurrency wallets reveal public keys when transactions are signed, creating potential vulnerabilities to future quantum algorithms, according to the project’s technical documentation.
BMIC’s architecture incorporates ERC-4337 Smart Accounts, a wallet standard that eliminates seed phrase requirements while implementing quantum-resistant cryptographic methods, according to the company. The platform offers quantum-secure staking options designed to generate yield without exposing private keys to network participants.
The project’s early funding stage has attracted capital from investors focused on blockchain infrastructure security, according to industry reports. Market observers note a growing focus on post-quantum cryptographic solutions as digital asset valuations increase.
Bitcoin’s market capitalization has reached approximately one trillion dollars, protected by cryptographic standards developed before quantum computing emerged as a practical threat. Protocols offering migration paths to post-quantum security standards may command market premiums as institutional adoption increases, according to blockchain analysts.
The cryptocurrency industry faces pressure to upgrade security infrastructure as quantum computing technology advances. Traditional encryption methods protecting blockchain assets may require replacement with quantum-resistant alternatives within the coming decade, according to estimates from technology researchers.
Cryptocurrency investments carry inherent risks, and presale investments involve additional uncertainties. Investors should conduct independent research before making investment decisions.
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