Crypto World
Gate Secures Malta PSD2 License for EU Payment Services
Crypto exchange Gate has secured a Payment Institution license in Malta, a license under the European Union’s PSD2 framework, giving the crypto exchange a regulated foothold to offer payment services across the bloc alongside its existing crypto permissions.
The company said Thursday that its Malta-based entity, Gate Technology, received the license from the Malta Financial Services Authority (MFSA). Gate said the approval supports its strategy of linking traditional payment infrastructure with Web3 services in Europe.
The authorization adds payment capabilities to Gate’s existing EU crypto permissions. On Oct. 1, 2025, Gate announced that it had obtained a license under the EU’s Markets in Crypto-Assets Regulation, allowing it to provide exchange and custody services across member states.
EU crypto companies offering payment services in stablecoins must hold either a Payment Institution or an Electronic Money Institution authorization. With PSD2 approval, Gate can passport regulated payment services across the bloc, expanding beyond trading into fiat and stablecoin payment infrastructure.
Gate says its flagship exchange serves more than 49 million users globally, though it does not publicly disclose a breakdown of users in the EU.
Payments authorization expands EU scope
Under PSD2 rules, licensed institutions may execute payment transactions, facilitate credit transfers and direct debits, and maintain payment accounts across the EU.
According to the MFSA’s public authorization catalogue, Gate Technology is permitted to provide payment services as defined under Malta’s Financial Institutions Act, including enabling cash to be placed on and withdrawn from payment accounts and carrying out all operations required to operate the accounts.
Gate CEO Giovanni Cunti said the license positions the company to deliver compliant payment solutions to institutional and retail clients.
The MFSA listing confirms that the approval extends beyond crypto custody and exchange services to regulated account and transaction functionality.
However, Gate did not specify which payment products will launch first or when expanded EU services will roll out.
Cointelegraph reached out to Gate for more information but had not received a response by publication.
Related: Deutsche Bank-backed AllUnity launches Swiss franc stablecoin CHFAU
Part of broader EU compliance trend
Gate’s approval follows a similar move by another major exchange. On Feb. 16, OKX obtained a Malta Payment Institution license to support products including OKX Pay and the OKX Card.
Under MiCA, crypto-asset service providers integrating stablecoin payments into regulated financial rails must align with EU payments law. As a result, Payment Institution approvals are increasingly becoming a prerequisite for exchanges seeking to offer euro-denominated payment flows alongside crypto trading.
Magazine: Hong Kong stablecoins in Q1, BitConnect kidnapping arrests: Asia Express
- Internet Computer token ICP traded to highs of $2.58 to extend its uptick.
- Gains came amid a notable spike in volume as crypto prices bounced higher.
- ICP could target $4.00 or higher, though risks of a sharp pullback remain.
Internet Computer (ICP) price has retested the pivotal supply zone above $2.50 as bulls edge higher from the seven-day low near $2.
The retest occurs amid broader recovery efforts across the cryptocurrency market, with ICP among the top altcoin gainers on the day.
With prices up 9% in the past 24 hours, and volume up 93% to over $125 million, it’s likely bulls could target resistance at higher levels.
Internet Computer price jumps above $2.50
ICP currently boasts intraday gains of about 9% over the past 24 hours, with the price currently trading down from its peak in the period.
But having pushed from a low near $2, it appears bulls have their sight on more.
Gains for ICP mirror broader market sentiment, where Bitcoin tested highs near $70,000 amid Nvidia-driven risk appetite.
The AI narrative also pushed tokens like NEAR, Bittensor, and Render higher.
The uptick to intraday highs of $2.58 sees the Internet Computer token trade at levels last seen in mid-February.
ICP price technical picture
From a technical standpoint, ICP’s retest of the $2.50 hurdle marks a potentially critical flip.
The price action signals buyer interest, and a breakout from a long-term downtrend line is likely to strengthen.
Bulls now need to successfully hold above this level to validate a bullish reversal pattern.
Targets on the upside include resistance at $3.21 and $4.00, with volume confirmation key to buyer conviction.
RSI on the daily chart suggests bulls may have room to test bears’ resilience, while the MACD also displays potential bullish strength.
However, price is below key moving averages, and the shape of the 50 and 100-day simple moving averages outlines overhead resistance.
If price drops from current levels, robust support lies at $2.00 and the October 10 low of $1.98.
The token changed hands at around $2.41 at the time of writing.
Key ICP proposal
Notably, ICP is rising amid Internet Computer’s recent proposal for a tokenomics upgrade.
In its plan, DFINITY Foundation seeks the introduction of revenue-funded burns, with 20% from cloud engine fees alongside usage-based node rewards being removed.
This will directly tie ICP supply reduction to network demand, a mechanism that then sees 80% of cloud engine revenue allocated to node providers.
In this case, the Internet Computer wants to shift from fixed subsidies to performance-linked incentives, a model that would mirror other cloud compute-focused chains.
Crypto World
With crypto markets in turmoil, investors are turning to contract-based yield for income
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
As XRP struggles, SolStaking positions contract-based staking and real-world asset integration as an alternative to direction-dependent crypto strategies.
Summary
- After a 69% drawdown and one of the largest realized-loss events since 2022, XRP faces both potential bottoming signals and ongoing technical resistance, leaving short-term direction uncertain.
- SolStaking offers structured, contract-based staking and cloud mining models designed to reduce reliance on price timing, supported by audits, custody insurance, and segregated asset management.
- By incorporating Real-World Assets such as bonds, commodities, and infrastructure projects, the platform aims to provide more stable, rule-based settlement mechanisms amid persistent crypto market volatility.
Recent market turbulence has put XRP back in the spotlight. After falling roughly 69% from its recent high, XRP has triggered mixed reactions among analysts. Some point to historical precedents where similar drawdowns were followed by strong recoveries, particularly after periods of heavy capitulation. On-chain data shows one of the largest realized-loss events since 2022, which some interpret as a potential sign of a developing local bottom.
Others, however, remain cautious. From a technical perspective, XRP continues to face meaningful resistance, and failure to reclaim key levels could open the door to further downside. In the near term, price action remains highly sensitive to liquidity shifts and broader market sentiment.
What’s clear is that directional conviction has become increasingly difficult in this environment.
When volatility itself becomes the primary risk
As market volatility intensifies, many participants are realizing that risk does not come solely from being “wrong on direction,” but from overexposure to price fluctuations themselves.
In choppy, range-bound market cycles, strategies built around short-term trading or leverage are often disrupted by abrupt changes in liquidity and sentiment. Even well-timed positions can be undermined by sudden moves that have little to do with fundamentals.
As a result, some investors are beginning to explore participation models with clearer rules, fixed timeframes, and automated settlement, seeking ways to stay involved in the crypto ecosystem without being entirely dependent on short-term price trends.
What is SolStaking?
SolStaking is a platform offering multi-asset staking and cloud mining services. Rather than focusing on market timing or price prediction, SolStaking is structured around contract-based participation models designed to operate across varying market conditions.
At the infrastructure level, the platform emphasizes long-term operational stability and risk control, including:
- A U.S.-registered operating entity: Sol Investments, LLC
- Strict segregation of user staking assets from operating funds
- Periodic independent audits conducted by PwC
- Custody insurance provided by Lloyd’s of London
- Enterprise-grade security, including layered encryption and 24/7 risk monitoring
This framework is not intended for short-term speculation, but for sustained operation in volatile market environments.
The role of real-world assets
Unlike models that are fully exposed to on-chain price movements, SolStaking incorporates Real-World Assets (RWA) as part of its underlying support structure. These assets may include AI data centers, sovereign and investment-grade bonds, physical gold and commodities, industrial metal inventories, logistics and cold-chain infrastructure, as well as agricultural and clean energy projects.
These assets operate off-chain and generate relatively stable revenue streams. After verification and accounting, relevant data is mapped on-chain, where smart contracts execute settlements automatically based on predefined rules. This approach is designed to reduce reliance on any single market’s price volatility.
Contract-based participation (illustrative examples)
SolStaking offers a range of contracts tailored to different capital levels and participation periods. Examples include:
Contract Type
Starting Amount
Duration
Estimated Settlement*
Trial Plan
$100
2 days
approx. $108
TRX Income Plan
$3,000
15 days
approx. $3,585
XRP Flagship Plan
$30,000
30 days
approx. $44,400
BTC Flagship Plan
$300,000
50 days
approx. $630,000
*Figures are model illustrations only. Actual outcomes depend on contract terms and system performance.
Under certain configurations, the model can generate outputs equivalent to several thousand XRP per day, driven primarily by operational design and execution efficiency, rather than short-term market price movements.
Conclusion: From predicting markets to rethinking participation
As Bitcoin and major altcoins continue to test critical support levels, volatility is becoming a constant rather than an exception. For many market participants, the challenge may no longer be improving price forecasts, but adapting how they engage with the market.
SolStaking represents one approach focused on structured participation and operational consistency, offering an alternative for those looking to reduce direct exposure to unpredictable price swings while remaining active in the digital asset space.
To learn more about SolStaking, visit the official website.
Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.
The Indiana state legislature authorized public retirement and savings plans to gain exposure to digital assets and spot exchange-traded funds (ETFs), while affirming residents’ access to crypto investments.
Governor Mike Braun is expected to sign HB 1042 into law within the next 10 days.
Indiana joins at least seven other states, including Wyoming, Wisconsin, Michigan and Arizona, that have moved to integrate crypto-linked products into public investment frameworks.
Almost half of the state governments in the U.S. are either on a path toward putting some of their money into crypto or already have, with much of this trend developing since President Donald Trump directed his administration to establish a Bitcoin Strategic Reserve.
A total of 21 states are investing or evaluating investments in digital assets, primarily bitcoin , and in some cases dollar-pegged stablecoins, according to CoinDesk analysis. States such as Arizona, Tennessee, Oklahoma and Nebraska have signed legislation opening certain public funds to cryptocurrency purchases, aligning with Trump’s pledge to make the U.S. the “crypto capital of the world.”
The Indiana legislature passed another crypto-related measure on Tuesday banning the operation of virtual currency kiosks, commonly known as crypto ATMs, across the state. Violations would be subject to enforcement by the state attorney general under deceptive consumer sales laws.
The bill follows warnings from state and local law enforcement about rising fraud tied to crypto ATMs. In Evansville, Indiana, authorities reported that in 2025 residents lost approximately $400,000 in scams connected to the kiosks.
The Massachusetts state Attorney General filed a lawsuit against ATM operator Bitcoin Depot alleging they allowed criminals to use its machines to scam users. The FBI has estimated that in the first half of 2025, Americans lost $240 million to crypto ATM fraud and that it received nearly 11,000 ATM fraud complaints in 2024, a 99% increase from the previous year.
Crypto World
Dragonfly Launches $650M Fund IV as Co-Founder Reveals the Blueprint Behind Building a Crypto VC Firm
TLDR:
- Dragonfly Capital launched a $650M Fund IV, bringing total assets under management to approximately $4 billion.
- Co-founder Qureshi credits geographic arbitrage between Asia and the US as the firm’s earliest competitive edge.
- Dragonfly avoided trending crypto deals like Terra and Axie, instead backing Ethena and Polymarket at low-interest periods.
- Qureshi argues that non-consensus investments drive the majority of venture returns, making contrarian discipline essential.
Dragonfly Fund IV, a $650 million crypto venture capital fund, has officially launched amid widespread skepticism about the industry.
Dragonfly Capital now manages approximately $4 billion in assets across offices in New York, San Francisco, and Singapore, with around 45 staff members.
Co-founder Haseeb Qureshi recently shared a detailed account of the lessons behind building the firm, offering rare transparency into the mechanics of crypto venture capital.
Starting From Zero: Reputation and Finding a Niche
Dragonfly Fund IV’s story begins long before the launch announcement. Qureshi entered crypto in 2018, just as the ICO bubble collapsed and most participants were exiting the space.
He later partnered with Bo to launch Dragonfly Capital at a time when dominant players like Polychain, Pantera, and a16z controlled the market.
According to Qureshi, first-time fund managers must stake their personal reputation to get started. He wrote that raising from friends, former bosses, and wealthy connections is non-negotiable for a debut fund. Without putting everything on the line, he argued, there is little to no chance of success.
The firm’s early edge was a geographic arbitrage strategy. Qureshi was based in the United States while his partner, Bo operated in Asia.
This east-meets-west positioning helped Dragonfly earn allocations in early rounds, even without leading deals. The approach was demanding, requiring long hours and constant coordination across time zones.
Talent Management and Brand Building as Competitive Advantages
As Dragonfly grew, Qureshi identified talent retention as a major differentiator. He noted that VC firms are notoriously poor at corporate management, including basic practices like mentorship, clear responsibilities, and open communication. Poor management often goes unaddressed because power law returns mask internal dysfunction.
Dragonfly took a different path. The firm invested in giving junior team members stability, voice, and independence.
Qureshi credited this approach for helping retain people who could have joined larger platforms. Over time, those individuals became central to the firm’s performance.
Brand distribution was another focus area. Qureshi stressed that every team member should build a personal audience. He encouraged public writing, social media presence, and individual thought leadership.
Firms that discourage employees from engaging publicly, he wrote, are making a strategic error.
Investment Philosophy: Non-Consensus Bets and Long-Term Discipline
On investment strategy, Qureshi outlined a clear framework. Most returns in venture come from a small number of deals, often just two or three per fund. He pointed out that consensus deals are usually overpriced, leaving little room for outsized returns.
Dragonfly’s biggest wins came from avoiding popular trends. The firm passed on Terra, Axie Infinity, and Yuga Labs during their peaks.
Instead, it backed Ethena shortly after the Terra collapse and invested in Polymarket before the 2024 election cycle drew mainstream attention.
Hsseeb wrote on X: “Every cycle has a narrative that feels irresistible…most of those themes turn out to be a waste of money.” He tied this discipline directly to portfolio construction, warning that trend-following produces a portfolio of “what was popular 18 months ago.”
Qureshi also addressed fundraising timing, noting that the best window to raise capital rarely aligns with the best time to deploy it. Managing that tension, he concluded, is one of the defining skills in venture.
Crypto World
Crypto Market Liquidity Is Shrinking Fast: Can the $50B USDT Level Survive the Pressure?
TLDR:
- Tether exchange reserves have dropped from $60B to $51.1B, draining $9B in liquidity over just two months.
- The $50B USDT level is now the critical support zone; a breakdown could push reserves toward the $44B mark.
- Active on-chain addresses fell sharply from 376,000 to 263,000, confirming weakening retail and institutional activity.
- CryptoQuant warns that without stablecoin stabilization and returning participants, market pain is likely to continue.
Crypto market liquidity is shrinking at a pace that has put analysts and traders on high alert. Tether’s exchange reserves have fallen from $60 billion to $51.1 billion in just two months.
That $9 billion withdrawal is widely seen as the main force behind the underwhelming market performance in January and February.
With reserves now hovering just above the $50 billion mark, attention has shifted to whether that level can hold. The answer may determine the near-term direction for Bitcoin, Ethereum, and XRP alike.
A $9 Billion Drain Is Reshaping Conditions Across the Crypto Market
The scale of the liquidity withdrawal has been swift and difficult to ignore. Over two months, Tether exchange reserves shed $9 billion, leaving the market noticeably thinner than it was heading into the new year.
As the dominant stablecoin, Tether serves as the primary liquidity engine for the entire crypto sector. When its reserves contract at this rate, the ripple effects are felt across trading pairs and asset classes.
Reduced stablecoin reserves translate directly into lower buying power on exchanges. Traders who might otherwise step in to absorb selling pressure simply have less dry powder available to deploy.
This dynamic helps explain why price action across major assets has been sluggish and unconvincing throughout the early months of 2025. Markets tend to drift lower when the liquidity cushion underneath them thins out.
CryptoQuant flagged this trend in a post on X, pointing to the reserve decline as the core issue behind recent market weakness.
The firm stated that without stabilization in stablecoin reserves and a return of active participants, the pain is likely to persist.
That framing puts the current situation in stark terms—recovery depends on reversing a trend that is still moving in the wrong direction.
The $50B USDT Level Now Stands as the Market’s Last Line of Defense
The $50 billion threshold has emerged as the most-watched level in the current market environment. CryptoQuant has identified this mark as a structural support zone that the market cannot afford to lose.
A confirmed breakdown below $50 billion would expose the next support level at $44 billion, leaving a wide gap with little in between. That kind of open air below a key level tends to accelerate downside moves rather than slow them.
On-chain data adds another layer of concern to the picture. Active addresses have dropped from a peak of 376,000 to 263,000, reflecting a sharp pullback in market participation.
Fewer unique senders and receivers point to both retail and institutional disengagement happening simultaneously. This retreat in user activity compounds the pressure that the stablecoin reserve decline is already generating.
When liquidity shrinks and participation falls at the same time, markets lose the structural support needed to sustain prices.
Each metric reinforces the weakness signaled by the other, making a recovery harder to achieve without a clear catalyst.
For the $50 billion USDT level to hold, stablecoin reserves would need to stabilize soon, and traders would need to return to the market in meaningful numbers.
Gate, the crypto exchange behind a platform that serves millions of users worldwide, has cleared another regulatory milestone in Europe. The Malta-based group received a Payment Institution license from the Malta Financial Services Authority (MFSA), authorizing Gate Technology to provide regulated payment services across the European Union under the PSD2 framework. The move broadens Gate’s EU footprint beyond trading and custody into fiat and stablecoin payment rails within the bloc, reinforcing its strategy to fuse traditional payments infrastructure with Web3 capabilities in Europe. Gate notes that its global user base surpasses 49 million, underscoring the potential reach of an EU-wide payments platform. This latest authorization complements Gate’s prior MiCA license achievement, which granted cross-border exchange and custody capabilities across member states starting in 2025.
Key takeaways
- Gate Technology received a PSD2-based Payment Institution license from MFSA, enabling regulated payment services across the EU.
- The license expands Gate’s EU operations from crypto trading and custody into fiat and stablecoin payment infrastructure with passporting across member states.
- The development builds on Gate’s prior MiCA authorization, announced on Oct. 1, 2025, which allowed exchange and custody services throughout the EU.
- The MFSA listing confirms the authorization covers payment accounts and related operations, signaling a broadening of Gate’s regulated activities beyond crypto custody.
- The move reflects a broader industry trend, with other exchanges like OKX also securing Malta payment licenses to support euro-denominated payments within regulated rails.
Tickers mentioned:
Market context: The industry is increasingly aligning crypto services with traditional payments regulation in the European Union, particularly under MiCA and PSD2, to enable regulated, cross-border flows for crypto-related payments and stablecoins.
Sentiment: Neutral
Price impact: Neutral. The licensing news signals regulatory alignment and potential product expansion, but does not by itself indicate immediate price moves.
Trading idea (Not Financial Advice): Hold. As Gate expands its EU payments capabilities, strategic execution and regulatory milestones will influence momentum, but investors should watch timelines and product launches for concrete impact.
Market context: The Maltese authorization sits within a broader EU push to regulate crypto-enabled payments. With MiCA shaping governance of crypto-asset providers and PSD2 guiding payment services, exchanges are increasingly obtaining cross-border licenses to deliver euro-denominated, regulated payments alongside crypto trading.
Why it matters
The MFSA’s decision to grant Gate Technology a PSD2-based Payment Institution license elevates Gate’s position from a crypto-trading platform to a dual-rails provider that can handle both digital assets and fiat payments within Europe. This is not merely a compliance tick-box; it expands the company’s ability to offer payment services that connect traditional financial rails with Web3 applications. For users, this could translate into streamlined on- and off-ramps, simpler fiat-to-crypto exchanges, and potentially cost-efficient mechanisms for transferring value across borders within the bloc.
From a strategic perspective, Gate’s move aligns with a growing trend among major crypto firms seeking to embed themselves more deeply in regulated payment ecosystems. By leveraging PSD2, Gate can passport payment services across EU member states, a capability that complements its MiCA authorization which already opened the door to cross-border exchange and custody. In practice, this means Gate aims to provide a more seamless experience for institutions and retail customers who rely on both crypto services and conventional payment rails—for example, funding accounts with cash or withdrawing funds into traditional bank accounts, all within a tightly regulated framework.
While the public benefits are clear, several questions remain. Gate did not specify which payment products it intends to launch first or the exact rollout timeline across EU markets. Industry observers will be watching for details on whether Gate will introduce fiat-to-crypto gateways, card-based payments, or stablecoin-enabled transfers tied to EU payment rails. The MFSA listing confirms that payment accounts and related operations are within Gate’s scope, but product-level specifics will determine how quickly end users experience tangible advantages.
In this environment, Gate’s competitors are also pursuing similar regulatory paths. OKX, for instance, obtained a Malta Payment Institution license to support products such as OKX Pay and the OKX Card, illustrating a coordinated push among exchanges to secure regulated access to euro-denominated payment channels. Under MiCA, providers that integrate stablecoin payments into regulated rails must stay aligned with EU payments law, which makes these licensing steps an increasingly common prerequisite for exchanges seeking broader European reach. As such, Gate’s PSD2 authorization is best understood as part of a wider shift toward regulated, interoperable crypto-financial services in Europe.
What to watch next
- Clarified product roadmap: Gate should reveal which payment services will launch first (fiat on/off ramps, card integration, or stablecoin payments) and the expected rollout timeline across EU member states.
- Regulatory cadence: Any MFSA-guided milestones or updates to Gate’s obligations under PSD2 and MiCA, including governance, reporting, or consumer protection enhancements.
- Merchant and institution adoption: Partnerships with banks, merchants, or fintechs that can leverage Gate’s regulated payment rails, potentially accelerating euro-denominated payment flows for crypto users.
- Cross-border usage: Practical tests of passporting capabilities across multiple EU jurisdictions and any friction points in onboarding or KYC processes for EU customers.
Sources & verification
- Gate Technology’s Malta PSD2 license grant announced by Gate via its public announcements.
- The MFSA public authorization catalogue listing Gate Technology as a licensed Payment Institution under Malta’s Financial Institutions Act.
- Gate’s earlier MiCA authorization announcement, confirming cross-border exchange and custody permissions across EU member states.
- OKX Malta Payment Institution license announcement as part of the broader EU compliance trend among major exchanges.
Gate expands EU payments with PSD2 license in Malta
Gate has openly described its Malta MFSA authorization as a strategic bridge between established payment infrastructure and emerging Web3 services across the European Union. The Maltese license is a formal recognition that Gate Technology can perform a spectrum of regulated payment activities, including initiating transfer operations, maintaining payment accounts, and enabling funds movement that originates from or terminates in the EU. In practical terms, Gate can, under PSD2, facilitate the kinds of payments that users expect when interacting with crypto platforms—cash-in and cash-out flows, transfers between wallets and bank accounts, and perhaps merchant-enabled payments that bridge crypto and fiat rails—without stepping outside regulatory boundaries.
The MFSA’s listing also underscores Gate’s ambition to deliver a fully compliant suite of services that integrate traditional financial rails with digital-asset tools. While the company has not named specific products for immediate launch, the authorization confirms a regulatory green light for operations that handle customer payments in a way that mirrors conventional financial institutions. This is particularly relevant for entities dealing with stablecoins, where staying within the ambit of regulated payment and electronic-money frameworks can facilitate smoother operations across borders while preserving consumer protections and compliance standards.
Market observers will be watching how Gate leverages this license to grow its European footprint, especially given the substantial scale of its user base. Gate reports a global user count exceeding 49 million, a figure that, if translated into EU activity, could significantly boost demand for euro-denominated payment solutions tied to crypto services. Yet the company’s reluctance to disclose a detailed EU user composition or a concrete product launch schedule hints at a cautious approach as it integrates new regulatory capabilities with its existing product lineup. In a sector where regulatory clarity is a competitive differentiator, Gate’s PSD2 license is a meaningful step toward a more seamless, compliant, and enterprise-friendly crypto ecosystem in Europe.
- Bybit adds stablecoin yield tools as crypto volatility rises.
- Exchange plans up to $10 million fixed-income opportunities in March.
- Firm says investors now prioritize capital preservation and yield.
Cryptocurrency exchange Bybit said it is expanding stablecoin-based income opportunities and fixed-return products as digital-asset markets face renewed volatility and falling investor sentiment.
The Dubai-based platform pointed to weakening market confidence, including a sharp pullback in bitcoin and a drop in the Crypto Fear and Greed Index, as a key reason for its latest initiatives.
Rather than reducing activity during uncertain conditions, the company said it intends to broaden earning options and support users seeking more predictable returns.
“We believe stability is what our users want most right now,” said Helen Liu, Co-CEO at Bybit. “The market will recover — we have no doubt about that. But in the meantime, our job is to help ease the pressure, offer real opportunities to earn stable income, and make sure our community knows that Bybit is right here with them.”
Focus on stable income during market uncertainty
Bybit said it has observed how rapidly market sentiment can shift during crypto cycles and how volatility can affect retail investors.
In response, the exchange is accelerating access to yield opportunities tied to stablecoins and introducing tools designed to preserve capital while generating consistent returns.
The company is promoting on-chain yield options, including Mantle Vault, and capital-efficiency tools such as BYUSDT, with the goal of allowing users to earn income without relying on speculative price appreciation.
“We want to find every opportunity for our users to earn stable income,” Liu said. “Whether it is on-chain yield through Mantle Vault or capital efficiency through BYUSDT, the goal is the same — make every dollar work harder so that our community can weather this period with less stress and more confidence.”
According to the company, the current market environment reflects a shift in investor priorities.
Bybit said users increasingly seek capital preservation and steady returns rather than highly leveraged gains.
“This cycle is different. Users are not chasing 100x returns — they are looking to protect capital and generate sustainable yield. That shift is structural, not emotional.”
New fixed-income opportunities planned
The exchange plans to introduce up to $10 million in fixed-income opportunities backed by stablecoins.
The initiative is expected to launch through March and is intended to provide predictable earnings options during periods of heightened volatility.
“Bybit will launch throughout March to offer stablecoin earn to its community. We are here for the industry for the long haul,” Liu said. “We have always believed in supporting our community — through bull markets and bear markets alike.”
The company said the offerings are part of a broader strategy to strengthen its role beyond trading by providing income-oriented financial products during uncertain market conditions.
Community engagement and long-term strategy
Bybit also emphasized continued communication with users and partners, saying transparency and constant engagement are key priorities during turbulent periods.
The exchange stated its teams remain connected around the clock to keep participants informed.
“We support stablecoin initiatives to help alleviate the financial pressure our users face during uncertain times. We invest in CSR and ecosystem development because a thriving industry benefits everyone. This commitment is unwavering — it is fundamental to Bybit’s identity.”
The company said market downturns can define the industry’s resilience and that its strategy is to remain active during challenging conditions while building confidence among users.
Bybit added that its focus is on offering stability and predictable earning opportunities as investors adjust to a more cautious phase in the digital-asset market cycle.
Institutional engagement with digital assets is no longer a uniform story. In recent years, major financial institutions have taken markedly different approaches to blockchain-based markets. Some have focused on tokenization, putting traditional instruments into programmable form. Banks, meanwhile, have explored tokenized deposit models and internal settlement rails as well as issuing their own digital assets like stablecoins.
Amid the growing wave of institutional capital entering digital assets, the more revealing question is not who participates, but how participation is governed inside the institution. Regulatory requirements, operational standards, and internal conviction often determine whether a strategy moves forward or stalls.
Speaking exclusively with BeInCrypto at Liquidity Summit 2026 in Hong Kong, Samar Sen, Head of International Markets at Talos, shared how those internal dynamics play out when institutions evaluate digital asset opportunities.
Adoption Requires More Than Rules
According to Sen, regulatory clarity remains the most decisive factor in institutional participation. He noted that progress across jurisdictions has helped reduce uncertainty, but clear rules remain essential for large-scale adoption.
“We’ve seen a lot of advancements in regulation all over the world,” Sen acknowledged.
While once the dominant concern, infrastructure has matured significantly. Institutional-grade custody, execution platforms, and portfolio management systems now operate across major markets, addressing many of the operational gaps that previously slowed adoption.
Yet even where regulatory frameworks have advanced and infrastructure is in place, in many institutions, the remaining hurdle is internal.
“There may be management that is still evaluating the underlying tech or still need some time to understand the potential of the tech to revolutionize finance,” he said.
That hesitation often reflects unfamiliarity rather than outright resistance, he added. For institutions built on decades of precedent, conviction takes time. As a result, digital asset initiatives can stall even when the external conditions appear favorable.
The Compliance Checklist Behind Institutional Trust
When asked what signals actually build trust for institutions evaluating crypto counterparties, Sen pushed back on the idea that visibility alone carries weight. While he acknowledged that industry gatherings and brand presence may help with awareness, institutional trust is earned differently.
“Typically, what builds trust will be, first of all, licensed or regulated entities within their jurisdictions,” Sen said.
He also added that institutions look for demonstrable internal controls, such as SOC 2 Type II certifications, audit trails, and operational safeguards. Track record also matters, particularly if leadership has experience in traditional finance and has built a reputation for delivering under regulatory scrutiny.
Peer adoption plays a role as well. Institutions often look outward, assessing who else is using the same infrastructure, and how widely it has been adopted across the industry.
“If you’re a big bank, and you go to talk to a vendor to provide you with technology, if that vendor is providing that technology to some of your peers and competitors, that’s another way that can establish some kind of trust,” he explained.
Not All Institutions Move at the Same Speed
Although regulatory clarity and operational safeguards form the foundation, institutions are not entering digital assets uniformly. Sen described three distinct profiles emerging in the market.
Some organizations act as early movers. These firms understand the structural shift underway in capital markets and are willing to commit resources ahead of full certainty. They tend to invest in building internal digital asset teams and engage proactively with new infrastructure providers.
Others take a more measured approach. These fast followers prefer to wait for clearer regulatory direction or proof of concept before scaling exposure. Their risk appetite is lower, and they often rely on external validation before committing capital.
Then there are institutions that remain behind the curve. In some cases, leadership has yet to develop conviction around the underlying technology. In others, digital asset initiatives exist but lack internal coordination, resulting in fragmented or misaligned strategies.
Sen noted that institutions should not be expected to move in lockstep. He added that different risk tolerances and internal mandates shape the pace of adoption.
“And that’s okay because with digital assets and the underlying technology, there are many entry points to participate in the asset class, to get comfortable with the new providers and ecosystem participants. We are here to help navigate that,” he stated.
By Omkar Godbole (All times ET unless indicated otherwise)
Bitcoin’s price bounce sparked optimism on social media, with X users declaring the bottom is in and a new rally is underway. Options market activity, however, reveals savvy traders remain skeptical, hedging against the risk of a potential slide below $60,000.
“While the bounce triggered some call buying in the $85,000 to $90,000 strikes, downside skew remains more elevated than upside, suggesting caution,” Sidrah Fariq, head of retail at Deribit, told CoinDesk in a Telegram chat.
The demand for call options, or bullish bets, indicates that bitcoin’s Wednesday bounce to $70,000 has some traders chasing upside. However, skew, which measures prices for calls relative to puts, remains negative across all time frames. It shows that traders remain worried about price drops and are still seeking puts for downside protection.
Underlying that theme, on Deribit, the $60,000 put remains the most popular position, with notional open interest (OI) of $1.48 billion. In contrast, the most popular call option, the $90,000 strike, has OI of $1.12 billion. Clearly, the overall positioning remains bearish.
That said, there could be some consolidation, as dealer positioning — net exposure of those who make markets by providing liquidity — has flipped positive between $60,000 and $70,000. This means dealers could buy low and sell high to maintain a net-neutral exposure, capping swings as they do so.
“Dealer positioning has shifted to neutral to slightly positive gamma, suggesting compressed volatility and range-bound price action,” Fariq said.
Other analysts are looking at the $74,000-$75,000 range as the level to beat for confirming a renewed uptrend.
Bitcoin was recently trading near $68,500, up 4.6% on the day, while the broader market posted bigger gains, as evidenced by the CoinDesk 20 (CD20) index’s 5.8% advance. Ether (ETH) has risen over 8%, and XRP (XRP) and solana (SOL) both rose more than 6%.
In traditional markets, futures tied to the S&P 500 and Nasdaq 100 were little changed despite the AI giant Nvidia (NVDA) posting a blowout fourth-quarter earnings report. Gold and the Dollar Index ticked higher as investors awaited details on the U.S.-Iran talks scheduled for later in the day. Stay alert!
Read more: For analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today
What to Watch
For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead“.
- Crypto
- Macro
- Feb. 26, 8:30 a.m.: U.S. initial jobless claims for week ending Feb. 21 (Prev. 206K)
- Feb. 26, 10:00 a.m.: U.S. Fed Vice Chair for Supervision Michelle Bowman to testify before the U.S. Senate Committee on Banking, Housing and Urban Affairs.
- Earnings (Estimates based on FactSet data)
- Feb. 26: American Bitcoin (ABTC), pre-market, $0.01
- Feb. 26: MARA Holdings (MARA), post-market, -$0.11
- Feb 26: TeraWulf (WULF), post-market, -$0.15
- Feb. 26: Figure Technologies (FIGR), post-market,$0.20
- Feb. 26: Sui Group (SUIG), post-market, $0.01
- Feb. 26: Block (XYZ), post-market, $0.49
Token Events
For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead“.
- Governance votes & calls
- Unlocks
- Token Launches
Conferences
For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead“.
Market Movements
- BTC is down 0.52% from 4 p.m. ET Wednesday at $68,590.57 (24hrs: +4.67%)
- ETH is down 1.16% at $2,075.97 (24hrs: +8.36%)
- CoinDesk 20 is down 1.27% at 2,011.66 (24hrs: +5.83%)
- Ether CESR Composite Staking Rate is up 2 bps at 2.85%
- BTC funding rate is at 0.0005% (0.5595% annualized) on Binance
- DXY is unchanged at 97.75
- Gold futures are down 0.41% at $5,204.60
- Silver futures are down 3.98% at $87.99
- Nikkei 225 closed up 0.29% at 58,753.39
- Hang Seng closed down 1.44% at 26,381.02
- FTSE is up 0.17% at 10,824.61
- Euro Stoxx 50 is up 0.25% at 6,188.91
- DJIA closed on Wednesday up 0.63% at 49,482.15
- S&P 500 closed up 0.81% at 6,946.13
- Nasdaq Composite closed up 1.26% at 23,152.08
- S&P/TSX Composite closed up 0.46% at 34,127.33
- S&P 40 Latin America closed up 0.68% at 3,826.41
- U.S. 10-Year Treasury rate is up 0.4 bps at 4.052%
- E-mini S&P 500 futures are unchanged at 6,958.75
- E-mini Nasdaq-100 futures are unchanged at 25,380.75
- E-mini Dow Jones Industrial Average Index futures are down 0.13% at 49,471.00
Bitcoin Stats
- BTC Dominance: 58.55% (+0.12%)
- Ether-bitcoin ratio: 0.03023 (-0.12%)
- Hashrate (seven-day moving average): 1,058 EH/s
- Hashprice (spot): $29.79
- Total fees: 2.91 BTC / $194,801
- CME Futures Open Interest: 112,135 BTC
- BTC priced in gold: 13.2 oz.
- BTC vs gold market cap: 4.57%
Technical Analysis
- The chart shows bitcoin’s weekly price swings in candlestick format since mid-2024.
- While prices have bounced strongly this week, they remain well below the $73,000-$74,000 zone that is a former support-turned-resistance.
- The broader outlook, therefore, remains bearish. Prices need to overcome that resistance to confirm a trend reversal higher.
Crypto Equities
- Coinbase Global (COIN): closed on Wednesday at $183.94 (+13.52%), +0.95% at $185.69 in pre-market
- Circle Internet (CRCL): closed at $83.14 (+35.47%), +0.71% at $83.73
- Galaxy Digital (GLXY): closed at $22.83 (+5.99%), +1.40% at $23.15
- Bullish (BLSH): closed at $32.89 (+6.92%), -1.03% at $32.55
- MARA Holdings (MARA): closed at $8.57 (+6.46%), unchanged in pre-market
- Riot Platforms (RIOT): closed at $17.08 (+3.52%), -0.12% at $17.06
- Core Scientific (CORZ): closed at $18.08 (+1.18%), -0.22% at $18.04
- CleanSpark (CLSK): closed at $10.45 (+0.97%), +0.29% at $10.48
- CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $42.34 (-0.87%)
- Exodus Movement (EXOD): closed at $10.63 (+8.91%)
Crypto Treasury Companies
- Strategy (MSTR): closed at $135.65 (+8.86%), -0.18% at $135.41
- Strive (ASST): closed at $8.54 (+19.19%), -1.41% at $8.42
- SharpLink Gaming (SBET): closed at $7.44 (+13.59%), +0.27% at $7.46
- Upexi (UPXI): closed at $0.83 (+35.86%), +4.53% at $0.86
- Lite Strategy (LITS): closed at $1.18 (+6.31%)
ETF Flows
Spot BTC ETFs
- Daily net flows: $506.6 million
- Cumulative net flows: $54.56 billion
- Total BTC holdings ~1.26 million
Spot ETH ETFs
- Daily net flows: $157.2 million
- Cumulative net flows: $11.67 billion
- Total ETH holdings ~5.64 million
Source: Farside Investors
While You Were Sleeping
Vitalik Buterin has exceeded his previously stated plan to sell 16,384 ETH, with total disposals now reaching 18,684 ETH.
Ethereum co-founder Vitalik Buterin has surpassed his publicly stated target of selling 16,384 ETH, with on-chain data showing total disposals have now reached over 18,000 ETH, valued at more than $38 million.
The sales, which have accelerated over the past 24 hours, come with ETH struggling against a multi-month downtrend that has seen it lose nearly 60% of its value since last summer’s all-time high above $4,900.
Sales Accelerate Past Planned Target
Blockchain analytics firm Lookonchain reported early Thursday that wallets linked to Buterin have now exceeded the 16,384 ETH threshold he announced in late January.
The blockchain developer initially disclosed his plan on January 31, 2026, stating he had withdrawn 16,384 ETH to fund open-source software and hardware development, privacy tools, and security-critical infrastructure projects.
He characterized the move as part of a period of “mild austerity” for the Ethereum Foundation, with him personally assuming funding responsibilities for certain initiatives to ensure the Foundation’s long-term sustainability.
The selling began in early February and has unfolded in distinct phases. On February 5, Lookonchain reported Buterin had sold 2,961 ETH worth $6.6 million over three days at an average price of $2,228 per coin.
By February 6, total sales had grown to 6,183 ETH, valued at $13.2 million, with the pace accelerating later in the month. On February 22, on-chain data showed Buterin had withdrawn another 3,500 ETH from Aave, and by February 23, Lookonchain flagged additional sales of 1,869 ETH worth $3.67 million.
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However, the most intense activity occurred between February 25 and 26. According to analyst Ted Pillows, Buterin sold another $2.83 million worth of ETH in the past few hours alone, bringing his total for February to $38.2 million. The sales included an additional 2,300 ETH dumped after Ethereum posted a 10% daily gain, its first such move in over four months.
Transaction data shared by Lookonchain shows multiple swaps routed through CoW Protocol, a decentralized exchange aggregator that splits large orders into smaller swaps to minimize market impact. These batches ranged from 7 to 70 WETH and were executed in quick succession, pushing the total past the planned 16,384 ETH to 18,684 ETH.
Despite the disposals, Arkham Intelligence data indicates Buterin remains one of the largest individual holders, with more than 240,000 ETH still in wallets associated with him.
Ethereum Price Action
The price of Ethereum has shown significant volatility during the period of Buterin’s sales. The asset is currently trading around $2,050, up 8.6% in the last 24 hours and 3.6% over the past week, according to CoinGecko. However, the token is still down nearly 30% over the past month and almost 18% across one year.
Analyst Ali Martinez noted that Ethereum’s broader decline coincided with significant ETF outflows, with data showing that over the last five weeks, institutional products have offloaded about 563,600 ETH, worth about $1.13 billion.
If selling pressure continues, Martinez identified several critical downside levels to watch, with $1,800 as an immediate pivot, followed by $1,584, $1,238, and a deeper capitulation zone near $1,089.
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