Crypto World
Bank of America, Morgan Stanley Support Bitcoin Stakes
TLDR
- Bank of America, Fidelity, and Morgan Stanley recommend allocating 1% to 5% of portfolios to Bitcoin.
- River reported that major institutions now treat Bitcoin as a portfolio diversifier.
- BlackRock advises limiting Bitcoin exposure to between 1% and 2% of total assets.
- JPMorgan analysts project Bitcoin could reach $266,000 if it rivals private gold investment.
- Bitcoin traded at $67,441 after falling 47% from its October peak of $126,080.
Major Wall Street firms now advise clients to hold small Bitcoin stakes within diversified portfolios. Fidelity Investments, Bank of America, and Morgan Stanley recommend allocations between 1% and 5%. These recommendations formalize Bitcoin’s role as a portfolio diversifier rather than a speculative trade.
River reported that several large institutions issued formal guidance on crypto exposure. The firms outlined allocation ranges that limit risk while allowing participation in price gains. Their guidance reflects structured portfolio models used in wealth management divisions.
Fidelity Investments advises clients to allocate between 2% and 5% to crypto assets, including Bitcoin. Bank of America recommends a 1% to 4% allocation range for diversified portfolios. Morgan Stanley suggests clients hold up to 4% in Bitcoin exposure.
Bank of America and Peers Outline Bitcoin Stakes Strategy
Bank of America placed Bitcoin within its alternative asset framework for private clients. The bank set allocation guidance between 1% and 4% of total portfolio value. The firm structured the guidance around volatility controls and diversification targets.
Fidelity Investments provided a higher allocation band of 2% to 5% for wealth clients. Morgan Stanley capped its recommended exposure level at 4%. BlackRock advised a narrower 1% to 2% range for Bitcoin holdings.
WisdomTree and JPMorgan Chase limited their recommendations to allocations of up to 1%. River compiled these figures in its institutional allocation report. The report described Bitcoin as a diversifier within multi-asset portfolios.
The firms structured their models to balance upside exposure with portfolio stability. They kept allocations limited to preserve overall asset mix targets. The guidance reflects internal research and asset allocation committees.
Price Levels and Long-Term Projections
Bitcoin reached a record high of $126,080 in October last year. The price later declined by 47% from that peak. CoinGecko data showed Bitcoin trading at $67,441 at the time of reporting.
Despite the price decline, several institutions published long-term projections. BlackRock CEO Larry Fink said Bitcoin could reach $700,000 per coin. He cited concerns about currency debasement and global financial instability.
Fidelity issued an earlier projection in September 2021. The firm estimated Bitcoin could reach $1 billion per coin by 2038. Jurrien Timmer supported that estimate using stock-to-flow and demand models.
JPMorgan analysts projected Bitcoin could reach $266,000 over time. They based the estimate on Bitcoin competing with gold as a store of value. Analysts compared private-sector gold investment totals with Bitcoin’s market capitalization.
JPMorgan stated that gold outperformed Bitcoin since last October. Analysts reported that the Bitcoin-to-gold volatility ratio fell to about 1.5. They described that level as a record low in their research note.
The bank said Bitcoin would need an $8 trillion market capitalization to reach $266,000. Analysts excluded central bank gold holdings from that comparison.
Bitcoin bulls were battling to flip three resistance levels back into support by the end of the week, but history shows they may need to wait another month.
Bitcoin (BTC) is battling three key resistance levels at once, and the end of the bear market may depend on breaking them in March.
Key takeaways:
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Bitcoin still faces three resistance levels on the weekly chart after its midweek gains.
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Bitcoin is down 14% in February, the fifth consecutive red month for BTC price.
Bitcoin bulls attempt three support flips
Data from TradingView showed the BTC/USD pair hovering around $67,720 after being rejected by the $70,000 psychological level.
An analysis of the current market structure points to a cluster of barriers that have merged into a resistance area, as shown in the chart below.
The 200-week exponential moving average (EMA) at $68,330, the old 2021 all-time high at $69,000, and the psychological level at $70,000 are capping the price rebound at the time of writing.
BTC failed to reclaim any of these levels following its climb to $70,040 on Wednesday. Commenting, analyst Captain Faibik said that Bitcoin needs a weekly candlestick close above the 200-week EMA for the bulls to maintain momentum.
If this happens, “we can then expect a bounce back toward 80k in the coming days,” the analyst said in a recent post on X, adding:
“I think March is going to be a bullish month.”
As Cointelegraph reported, the bear market may end if the BTC price breaks above the cost basis of the 18-24-month age band at $74,500.
Bitcoin heads for five straight months of losses
Historical price data from CoinGlass confirmed Bitcoin is facing its fifth consecutive red month, down 14% in February. The last time this happened was toward the end of 2018 at the depths of the bear market.
“Bitcoin is nearing a rare bearish streak,” Alex said in a recent post on X, adding:
“Last time in 2018 and 2019, the streak was followed by five strong green candles and a 4x rally.”
After a 57% decline between August 2018 and January 2019, Bitcoin then recorded five consecutive green months, gaining 317% to $13,880 from $3,329.
If history repeats, the reversal could begin in April, particularly as selling pressure nears exhaustion levels.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
Banking giant Morgan Stanley has plans to offer multiple Bitcoin-related product offerings in the future, according to its digital assets strategy head Amy Oldenburg.
Summary
- Morgan Stanley is weighing plans to let clients custody and trade Bitcoin directly on its platform, with yield and lending services also under discussion.
- The bank plans to build its Bitcoin infrastructure in-house to meet reliability standards.
Morgan Stanley currently manages roughly $9 trillion worth of assets, and it will consider giving its clients the option to custody and trade Bitcoin directly on its platform, Amy Oldenburg said during her appearance at the Bitcoin for Corporations conference in Las Vegas on Feb. 26.
Regarding Bitcoin-based yield and lending services, she said that it was a “natural part of the roadmap to continue to explore,” but added that the firm is still “early in the journey.”
However, the banking giant plans to develop its Bitcoin infrastructure from scratch through an in-house offering to ensure reliability and control over the technology stack.
“People expect Morgan Stanley—they trust our brand—to be no-fail. When you sit in that position, you have a significant responsibility to your clients to make sure that you’re delivering that in any level of technology,” Oldenburg said.
Further, she confirmed that the bank already has “a considerable number” of cryptocurrencies that its clients hold off-platform, but added that she does not expect all of those assets to flow into Morgan Stanley’s custody solutions, noting that self-custody remains a natural part of the space, particularly within the Bitcoin community.
Morgan Stanley was once cautious toward crypto-related offerings, but the Wall Street giant has gradually warmed up to the space under a more favourable regulatory climate following the election of United States President Donald Trump.
Last year, analysts at the firm increased their recommended crypto allocation from 1% to 2% for income and balanced growth portfolios to up to 4% for strategies focused on what they described as “opportunistic growth.” They have also called Bitcoin “akin to digital gold,” describing it as a scarce asset that can potentially offer long term value within diversified portfolios.
The bank has also confirmed plans to offer retail trading services for Bitcoin, Ethereum, and Solana through its E*Trade app as part of its broader digital asset push. Last month, it filed three separate crypto fund registrations tied to these assets.
Morgan Stanley is moving deeper into digital assets by pursuing a de novo national trust charter that would let the firm custody crypto assets for clients and facilitate related trading activities. A public filing with the Office of the Comptroller of the Currency on February 18 identifies the applicant as “Morgan Stanley Digital Trust, National Association.” If approved, the charter would empower the bank to act as a fiduciary, offering custody and asset safekeeping, as well as handling purchases, sales, swaps and transfers to support client portfolios, including activities such as staking. The initiative marks a formal expansion of the firm’s crypto ambitions and aligns with a broader push among Wall Street institutions to embed digital assets into traditional banking models. Bitcoin (CRYPTO: BTC) and Solana (CRYPTO: SOL) figures loom large in the charter’s contemplated scope, signaling Morgan Stanley’s intent to cover both base assets and more complex crypto strategies under a regulated umbrella.
The bank’s business outline emphasizes that the de novo trust would custody digital assets on behalf of clients, execute trades, and support investment activities across a spectrum of crypto products, including staking services. In practice, that means the unit would be positioned to handle fiduciary duties for crypto assets, while offering a suite of services common to traditional trust operations—trust accounts, safekeeping, and other custody functions—tailored to digital assets. While the document remains the initial filing stage, the emphasis on custody, transfers and staking underscores a trend toward regulated, bank-based crypto infrastructure rather than standalone crypto-only firms.
This charter would mark Morgan Stanley’s first trust filing with a crypto-specific focus, following a wave of other de novo applications that emerged in 2025. The OCC oversees roughly 60 national trust banks in the United States, and the agency has been weighing how best to supervise crypto-focused custody among legacy financial players. The development sits within a broader, growing race to secure national trust banking charters related to digital assets. In December, the OCC conditionally approved five crypto-related national trust bank applications, including First National Digital Currency Bank, Ripple, BitGo, Fidelity Digital Assets and Paxos, signaling a warming yet tightly regulated path for institutions seeking regulated custody of crypto assets for clients.
As the hunt for crypto-banking licenses intensifies, other prominent approvals have flowed in recent months. Stablecoin-focused platforms Bridge, owned by Stripe, announced it had received conditional approval for a national trust bank charter, which was subsequently followed by Crypto.com’s own charter developments. The rapid succession of approvals highlights the OCC’s willingness to grant governance access to entities building regulated crypto rails, while simultaneously raising questions about standards, custodial practices and risk controls across a rapidly expanding ecosystem. The broader policy backdrop includes ongoing discussions about how to resolve questions around stablecoins, yield, and reserve management—issues that the OCC has signaled it intends to address through proposed rulemaking and clarifications for crypto-related banking activities.
Morgan Stanley’s deeper crypto push is reinforced by internal leadership moves and recruitment drives. In January, the bank elevated equity markets veteran Amy Oldenburg to lead its new digital asset unit, a signal of the firm’s intent to scale up expertise in tokenized strategies and custodial services. Public job postings show the bank aiming to grow its crypto team with roles such as digital assets strategy director and digital assets product lead, underscoring a structured, long-term commitment to crypto capabilities. Beyond staffing, Morgan Stanley has been pursuing a broader slate of crypto products, including exchange-traded funds tied to major crypto assets. The firm filed in January to launch spot Bitcoin and Solana ETFs, and later sought approval for a staked Ether ETF, underscoring a multi-asset approach that blends traditional finance with digital-native instruments.
The current filing and related moves illuminate a strategic shift at Morgan Stanley, reflecting both client demand for regulated exposure to crypto and the bank’s appetite to own a larger piece of the crypto value chain. The OCC’s evolving stance—facilitating de novo charters while pushing for clear risk controls and regulatory guardrails—appears to be shaping a landscape in which banks that embrace digital assets can build outsized roles in custody, settlement, and complex crypto transactions. For Morgan Stanley and peers, the practical implications go beyond branding; they are about creating a regulated, scalable platform that can support a wide array of crypto activities within the bank’s existing risk management and compliance framework.
Yet this environment remains nuanced. The OCC’s charters come with explicit expectations around fiduciary obligation, customer protections and robust governance. The broader debate around stablecoins—how they should be regulated, how yields should be treated, and how reserve backing is managed—continues to shape how these charters are structured and what activities are permitted. The agency has floated proposals and engaged with market participants on these issues, signaling that while the path to crypto custody within a bank charter is becoming clearer, it is not yet fully settled. As Morgan Stanley and others push forward, observers will be watching how the regulators balance innovation with resilience, liquidity management and systemic risk considerations.
Why it matters
The filing signals a significant step in the normalization of digital asset custody within mainstream financial institutions. If approved, Morgan Stanley would be among a cohort of banks offering regulated fiduciary services for crypto holdings, moving beyond advisory relationships into direct custody and execution capabilities tied to client portfolios. This could reduce friction for institutional investors seeking regulated exposure to digital assets and related strategies, potentially expanding the addressable market for crypto products within traditional wealth management and brokerage channels.
For the broader market, the move contributes to a more formalized, bank-led crypto infrastructure. The OCC’s involvement and the concurrent approvals of other crypto-focused national trust banks suggest a maturing regulatory pathway for custody, settlement and staking services—areas where risk controls and compliance frameworks are crucial. As regulated options proliferate, custody and financing arrangements may become more accessible to a wider audience, including sophisticated institutional players who require strong governance, transparent reserve practices and clear accountability. The development also reinforces the ongoing convergence between conventional financial services and digital asset technology, a trend that could influence product design, risk management practices and client expectations across the sector.
From a user perspective, a Morgan Stanley-led custody capability could translate into more integrated experiences: secure storage, easier access to a range of crypto products, and the potential to combine digital asset strategies with traditional portfolios under a single risk framework. For builders and policymakers, the evolving charter landscape underscores the need for clear standards around custody, custody risk, liquidity, settlement finality and disclosure. It also highlights the role of banks in providing the operational depth necessary to support regulated crypto markets, which could help attract more capital and liquidity into the sector while reassuring risk-conscious investors.
What to watch next
- OCC decision on Morgan Stanley Digital Trust, National Association’s de novo charter filing (watch for a published decision in the coming months).
- Reactions and approvals for other crypto-related national trust banks (Bridge, Paxos, Fidelity Digital Assets, Ripple, BitGo) and any new entrants (regulatory filings and conditional approvals).
- Morgan Stanley’s ongoing ETF filings and product launches related to BTC, SOL and ETH, including any updates to staking-related offerings.
- Regulatory developments around stablecoins and yield in the OCC framework, including any finalized clarifications or policy proposals that could influence custody charter risk controls.
SOURCES & verification
- Office of the Comptroller of the Currency: Filing details for Morgan Stanley Digital Trust, National Association — https://apps.occ.gov/CAAS_CATS/CAAS_Details.aspx?FilingTypeID=2&FilingID=344925&FilingSubtypeID=1093
- Forbes: 8 trillion Morgan Stanley quietly files for national trust charter — https://www.forbes.com/sites/jasonbrett/2026/02/27/8-trillion-morgan-stanley-quietly-files-for-national-trust-charter/
- Bloomberg: To Goldman with Love, Lloyd Blankfein’s life on Wall Street — https://www.bloomberg.com/news/articles/2026-02-27/to-goldman-with-love-lloyd-blankfein-s-life-on-wall-street
- Morgan Stanley appoints digital asset head Amy Oldenburg — https://cointelegraph.com/news/morgan-stanley-appoints-digital-asset-head-amy-oldenburg
- Morgan Stanley files Bitcoin and Solana ETFs — https://cointelegraph.com/news/morgan-stanley-files-bitcoin-solana-etf
Key takeaways
- Morgan Stanley filed on February 18 for a de novo national trust charter named Morgan Stanley Digital Trust, National Association, with the OCC to custody digital assets and execute related trades and transfers for clients.
- The filing follows a wider OCC-driven wave of crypto-charter activity, including December approvals for First National Digital Currency Bank, Ripple, BitGo, Fidelity Digital Assets and Paxos, and other recent charter events involving Bridge and Crypto.com.
- The bank’s plan emphasizes custody, safekeeping and staking, signaling a broader strategy to embed crypto services within traditional banking infrastructure.
- Internal leadership moves underscore a scaling effort: Amy Oldenburg was appointed to lead the new crypto unit, and job postings indicate a broader recruitment drive for crypto-focused roles.
- Beyond custody, Morgan Stanley has pursued crypto product initiatives, including ETF filings for BTC and SOL, followed by a staked Ether ETF filing, illustrating a diversified, multi-asset approach.
Tickers mentioned: $BTC, $ETH, $SOL
Sentiment: Neutral
Market context: The filing sits within a widening regulatory and market push to normalize crypto custody within regulated banking channels, as the OCC signals cautious expansion of crypto-enabled services alongside ongoing debates on stablecoins and risk controls.
Why it matters
The development highlights a path to regulated, bank-led crypto custody that could lower barriers for institutional investors seeking compliant exposure. If approved, Morgan Stanley could offer integrated custody and execution services for digital assets within a framework that aligns with existing risk and compliance practices, potentially attracting more capital to crypto strategies managed under traditional financial oversight.
For market participants, this trend may translate into more predictable custody standards and greater liquidity for crypto products distributed through major banks. It also reinforces the importance of robust governance, reserve management and transparency as crypto services migrate from boutique fintechs to mainstream financial institutions. Regulators’ ongoing work—balancing innovation with financial stability—will shape how quickly and where such charter-enabled services scale in the near term.
Ultimately, Morgan Stanley’s push, alongside concurrent approvals and ETF filings, suggests that the line between traditional banking and digital asset services is continuing to blur. Investors and builders should monitor regulatory updates, endorsements by the OCC, and any official guidance that clarifies permissible activities, reserve requirements and disclosure norms for crypto custodians operating under national trust charters.
Payment giant PayPal is expanding access to its stablecoin through a new platform it says will allow devleopers to create their own US dollar-pegged tokens backed by PayPal USD.
PayPal, MoonPay and stablecoin platform M0 on Friday announced PYUSDx, a product aimed at helping developers launch PayPal USD (PYUSD)-backed stablecoins for use within applications, or tokens designed for use inside a particular app, platform or ecosystem, according to a joint announcement shared with Cointelegraph.
The companies said the rollout is planned for next month.
“The next phase of stablecoin adoption is happening at the application layer. Developers want to build differentiated experiences, but they shouldn’t have to rebuild trusted monetary infrastructure from scratch,” said May Zabaneh, PayPal’s head of crypto.
The launch comes as competition intensifies in the stablecoin market, with companies including Meta reportedly planning stablecoin-based payments across its suite of apps including Facebook, Instagram and WhatsApp.
PYUSDx combines M0’s universal stablecoin and MoonPay platform
Launched in August 2023, PayPal USD is a US dollar-pegged stablecoin issued by Paxos Trust Company, a federally regulated national banking association.
PYUSDx is separate from PYUSD and is described as a tokenization and issuance framework offered by MoonPay Digital Assets, the announcement said.
The companies said PYUSDx combines M0’s universal stablecoin and digital token platform with MoonPay Group’s infrastructure to simplify the launch of US dollar-backed stablecoins by reducing technical and operational burdens.
It also features fast launch speed, cross-chain compatibility, flexible economics, reserve transparency and the ability to create branded stablecoins.
“We’re excited to see MoonPay and M0 use PYUSDx to help bring new, application-specific stablecoins to market, anchored in a regulated, trusted foundation,” PayPal’s Zabaneh said.
Related: Stripe considers acquiring some or all of PayPal: Report
USD.ai, a decentralized finance protocol that issues stablecoins including USDai and yield-bearing sUSDai, is the first developer building on PYUSDx, using the platform to support an application-specific stablecoin for AI infrastructure.
PYUSDx tokens are separate from PayPal USD and cannot be used, sent or stored in PayPal or Venmo accounts, the announcement noted.
The launch of PYUSDx comes as PayPal continues expanding real-world use cases for its stablecoin. In late 2025, video-sharing giant YouTube reportedly enabled US-based creators to accept payouts in PYUSD, highlighting the growing adoption of the digital dollar beyond traditional finance.
Magazine: Clarity Act risks repeat of Europe’s mistakes, crypto lawyer warns
The taxman cometh. In February, the tax authorities of four countries began to reconsider how they tax crypto.
In the US, the number of crypto ATMs hit nearly 40,000, returning to 2021 levels of interest in crypto kiosks. The number of installations had dipped significantly after the crypto crash of 2022.
Japan’s inflation dipped below 2% in February, less than in the United States. Berkshire Hathaway CEO Warren Buffett said earlier this year that dollar investments were looking less attractive as the yen is providing a more stable currency.
Bitcoin (BTC) was stuck below $70,000 this month. Many crypto observers have noted that US tariffs are putting pressure on the asset. US President Donald Trump’s new 10% levy has done nothing to alleviate this.
Here’s February by the numbers:
Four countries consider changes to crypto tax laws in February
The Netherlands’ House of Representatives, the lower house of the country’s parliament, advanced a tax proposal on Feb. 12. The draft law would introduce a 36% capital gains tax on unrealized gains on savings and liquid investments, including crypto.
Critics say the tax, which is supported by 93 of the 150 representatives, will chase money out of the country.
Detractors appear to have won out. The new Dutch cabinet said that it will reconsider the measure.
“There is a lot of criticism of the Actual Return Act. We are not deaf to that … The bill needs to be amended. The Minister and State Secretary will discuss this with the Senate and parliament,” a cabinet spokesperson said.
In Israel, the Israeli Crypto Blockchain & Web 3.0 Companies Forum launched a lobbying effort to reform the country’s crypto tax laws. Forum leader Nir Hirshmann-Rub said there is broad public support to relax laws on stablecoins and tokenization, as well as simplify compliance.
He noted that many Israelis already own and invest in crypto. “More than 25% of the public already has had crypto dealings in the last five years and more than 20% currently hold digital assets,” he said.
In Hong Kong, Financial Secretary Paul Chan said that the special administrative region is tweaking its tax laws. He said the Inland Revenue Ordinance will implement the Organisation for Economic Co-operation and Development’s Crypto-Asset Reporting Framework (CARF).
The CARF is a global tax exchange standard for crypto that aims to tackle tax evasion. It requires crypto service providers to report on client activity.
Vietnam has proposed a crypto transaction tax. Crypto transfers and trading would be exempt from the usual value-added tax. But transferring crypto assets through licensed service providers would incur a 0.1% personal income tax on the transaction value.
In India, which imposes a flat 30% tax on crypto gains and doesn’t allow users to offset losses, calls to reform the law have fallen on deaf ears. Despite intense lobbying, the proposed 2026 Union Budget did nothing to reform crypto tax.
Bitcoin stays below $70,000; Trump raises tariffs 10%
Bitcoin has had a rough past couple of months, and in February, it struggled to breach the $70,000 mark.
Analysts have cited several macro pressures on Bitcoin’s price. One is the lack of progress on the CLARITY Act, the US’ proposed framework for cryptocurrency markets. Lawmakers can’t agree on ethics provisions or possible bailout provisions, and prominent lobbies, namely the crypto and banking lobbies, are at loggerheads over stablecoin interest.
Related: When will crypto’s CLARITY Act framework pass in the US Senate?
Chris Waller, a governor of the United States Federal Reserve, said, “The lack of passing of the CLARITY Act I think has kind of put people off on this.”
Another issue is tariffs. The US Supreme Court invalidated the tariffs Trump implemented using the 1977 International Emergency Economic Powers Act (IEEPA). Trump responded by hiking global tariffs 10% using the Trade Act of 1974 as a legal foundation.
Crypto analysts and observers have noted the negative effect Bitcoin has on markets. Swan CEO Cory Klippsten said, “The biggest drag on Bitcoin price the past year has been tariffs … That’s the drag on risk assets in general, and in particular [with] Bitcoin, there’s just uncertainty around what’s gonna happen.”
Japan’s inflation dips below 2%, and Takaishi takes elections
The inflation rate of the Japanese yen has dipped below that of the dollar, falling below 2%, its lowest in three years.
The new inflation low for the yen comes after Prime Minister Sanae Takaichi called for snap elections. The gamble hoped to restore the majority of the Liberal Democratic Party (LDP) to a parliamentary majority.
The gambit paid off, and now the LDP dominates the Japanese House of Representatives, the National Diet’s lower house, with a 316-member two-thirds majority.
Stock markets in Japan responded well. The Nikkei 225 (JP225) increased 10% on the month, spiking significantly after the Feb. 9 election.
[chart]
Japanese JP225 is up over 10% in February.
This could spell short-term trouble for Bitcoin, which tends to correlate with US equities, according to XWIN Research Japan. The increasing attractiveness of Japanese bonds could slow into US equity exchange-traded funds.
Related: BTC traders wait for $50K bottom: Five things to know in Bitcoin this week
Buffett said that his company will increase its investments in Japanese trading houses. These include five major “sogo shosha,” or wholesale companies: Itochu, Marubeni, Mitsubishi, Mitsui and Sumitomo.
Crypto ATMs number 40,000 as companies add new requirements
The number of cryptocurrency kiosks worldwide grew by 290 in February, bringing the total number up to nearly 40,000, according to data from Coin ATM Radar.
[graph]
290 crypto ATMs opened globally in February.
The number of cryptocurrency kiosks has fluctuated over the years. The total number dropped significantly after the crypto crash of 2022.
[graph]
Crypto ATMs globally now number nearly 40,000.
Regulators worldwide have raised concerns over crypto ATMs and the possibility of their use in money laundering, as well as scams. Some companies have taken strides to allay these concerns.
In February, the biggest Bitcoin ATM operator in the US, Bitcoin Depot, began phasing in user ID requirements for its terminals in the United States. The move followed pressure from regulators and lawmakers nationwide.
Magazine: Would Bitcoin really be at $200K if not for Jane Street? Trade Secrets
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Ripple’s latest funding push for the XRP Ledger is drawing renewed attention to XRP, with traders closely watching whether the ecosystem expansion can translate into sustained price momentum.
Summary
- Ripple boosts XRPL funding: New grants and investments aim to accelerate DeFi, tokenization, and enterprise adoption.
- XRP consolidating near $1.40: Price remains range-bound between $1.35 and $1.50 after February volatility.
- Breakout level to watch: A move above $1.50–$1.60 could signal bullish continuation, while $1.35 remains key support.
While the Ripple token (XRP) remains range-bound near $1.40, the announcement might reinforce bullish long-term sentiment around the network’s growth prospects.
In a recent blog post, Ripple detailed expanded financial backing for developers building on the XRP Ledger (XRPL), including grants and strategic investments targeting compliance-first DeFi, real-world asset (RWA) tokenization, and enterprise-grade blockchain solutions.
The initiative is designed to deepen liquidity, expand institutional participation, and strengthen core infrastructure.
By prioritizing regulated DeFi applications and tokenization frameworks, Ripple is positioning XRPL as a scalable, enterprise-ready network aligned with global financial standards. The move shows Ripple’s strategy of pairing institutional partnerships with grassroots developer growth, a combination that could enhance long-term demand for XRP as a utility asset within the ecosystem.
XRP price analysis
XRP is currently trading around $1.40, up modestly on the day, as price action consolidates following a sharp early-February decline that briefly drove the token toward $1.20 before a rebound.
Since that capitulation move, XRP has traded within a tight $1.35–$1.50 range, signaling potential accumulation. Immediate resistance stands near $1.50, with a stronger ceiling around $1.60, where prior rejection occurred.
A confirmed breakout above $1.60 could open the door toward $1.80. On the downside, key support remains at $1.35, followed by the psychological $1.20 level.
Meanwhile, the RSI (14) sits near 42, below the neutral 50 mark, indicating subdued bullish momentum but no longer oversold conditions. Meanwhile, the DMI shows the negative trend line still leading, though the gap is narrowing, suggesting bearish pressure may be weakening.
A decisive move above $1.50, particularly on rising volume, would be needed to confirm a bullish shift.
Bitcoin (BTC) sellers returned on Friday, pulling BTC price 5.5% below Wednesday’s high of $70,000 to trade at $65,950 at the time of writing. Several analysts said Bitcoin is “going much lower,” potentially reaching a bottom during the last quarter of 2026.
Key takeaways:
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Analysts forecast BTC price to hit a bottom in Q4 based on various technical and onchain metrics.
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Rising exchange reserves and “supply in profit” falling to 2022 lows suggest further downside pressure.
Analysts say Bitcoin price will bottom after June
According to multiple analysts, Bitcoin could extend its downtrend, possibly reaching as low as $30,000 to $45,000 during the last quarter of the year.
Related: Bitcoin’s five-month losing streak may not end in March as $70K caps price
The shortest bear market lasted 365 days, and “Bitcoin is currently about 140 days into its current bear market,” crypto trader Darky said in a Friday post on X, adding:
“We are going much lower, just a matter of time.”
Onchain data provider CryptoQuant said “bottoms take time” to form, and that Bitcoin could reach its cycle lows between “June and December,” based on previous post-halving price structures.
“Historically, the sweet spot clusters around September–November 2026.”
Fellow analyst Batman said that previous bear cycles printed their lows 365 and 396 days after the market top.
Bitcoin’s current all-time high of over $126,000 was reached on Oct. 2, 2025, and “adding 365 to 396 days puts us around October to November 2026,” Batman said, adding:
“So whatever price we get by then, I think it’s fair to say it will be a no-brainer buy.”
Meanwhile, the Bitcoin “supply in profit” metric has dropped to levels last seen at the depths of the 2022 bear market, according to data from CryptoQuant.
In 2022, the bottom phase lasted for about six months.
Overlaying the exact downward price action from that period onto the current chart, it aligns with the -70% to -75% drawdown range projected for the fifth cycle.
This suggests that Bitcoin could drop further from current levels, possibly bottoming between $31,500 and $38,000 six months from now.
On-Chain College shared a chart showing that Bitcoin broke below its Long-Term Holder True Cost Basis at $65,700 and needed to reclaim it as support.
Cost basis levels act as psychological pivots, and when the price trades below them, investors face unrealized losses and the risk of distribution increases.
A sustained position below the band tends to increase investor stress and encourages BTC capitulation.
“History would suggest that Bitcoin is due for a trip down to $42K or lower.”
As Cointelegraph reported, many analysts expect 2026 to be a bear market year, and various forecasts predict the BTC price dropping to as low as $40,000.
Bitcoin supply on exchanges keeps rising
Onchain data from CryptoQuant shows Bitcoin balance on exchanges has grown to 2.752 million BTC from 2.723 million in mid-January. This represents a total increase of about 28,489 BTC (+1.0%) over 45 days.
Increasing BTC supply on exchanges is a classic bearish signal that can outpace demand.
“Until the reserve turns lower and breaks back below 2.723M BTC, structural selling pressure remains intact,” analyst Axel Adler Jr. said in a recent analysis, adding:
“The key trigger for a regime change is a sustained decline in the reserve below the January lows.”
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
UK banking giant Barclays is reportedly exploring blockchain technology for core banking services, the latest sign that major financial institutions are evaluating digital ledger infrastructure to modernize legacy systems.
Citing people familiar with the matter, Bloomberg reported Friday that Barclays is seeking technology providers for a blockchain platform capable of handling payments, deposits and crypto-related applications such as stablecoins and tokenized deposits.
The lender has issued requests for information to several technology suppliers, though the companies were not identified. A vendor selection could be made as early as April, the report said.
The move would align with Barclays’ recent activity in the digital asset space. As Cointelegraph reported last month, the bank made its first stablecoin-related investment in Ubyx, a US-based stablecoin clearing platform, signaling a growing interest in tokenized payment infrastructure.
Separate reports have also suggested that Barclays may play a role in a potential initial public offering by crypto hardware company Ledger, though that involvement has not been confirmed.
Related: Wall Street’s crypto debate is over as banks go all-in on BTC, stablecoins, tokenized cash
Banks and Big Tech accelerate stablecoin push
Bloomberg framed Barclays’ reported blockchain initiative within a broader push by banks and technology companies to evaluate stablecoins, which enable faster, lower-cost and around-the-clock settlement compared to traditional payment rails.
Interest in stablecoins has accelerated as institutions explore tokenized deposits and onchain payment systems that could streamline cross-border transfers and reduce reliance on intermediaries.
The shift isn’t limited to banks. Meta Platforms is reportedly revisiting its stablecoin ambitions years after shelving its high-profile Diem project, signaling renewed Big Tech interest in blockchain-based payments.
For traditional lenders such as Barclays, stablecoins present both an opportunity and a competitive risk. If widely adopted, privately issued digital dollars could weaken banks’ control over deposits and payment flows, two pillars of their business model.
The debate is especially relevant in the United States, where lawmakers are weighing market structure and stablecoin legislation, including discussions around whether issuers should be permitted to offer rewards.
Even without yield-bearing features, however, large-scale stablecoin adoption could shift liquidity away from traditional bank deposits and into tokenized alternatives.
Related: Modern Treasury integrates stablecoin settlement alongside ACH and wires
Shares of Figure Technology Solutions, a blockchain-based consumer lending marketplace, plunged on Friday after the company reported mixed fourth-quarter results the prior day, signaling a more difficult operating environment even as revenue continued to climb.
For the quarter ended Dec. 31, the company posted revenue of $159.9 million, up from $83.9 million a year earlier, and net income of $15.1 million, compared with $5.9 million in the same period of 2024. Earnings were $0.06 per diluted share, compared to zero a year earlier.
Analysts polled by Yahoo Finance expected earnings of $0.18 per share on revenue of $157.7 million.
Growth was driven by increased lending activity. Consumer Loan Marketplace volume, which reflects total loans originated and traded on the platform, reached $2.7 billion during the quarter, up from $1.2 billion a year earlier.
For the full year, net income totaled $134.3 million, up from $19.9 million in 2024, while revenue reached $506.9 million, compared with $340.9 million a year earlier.
The company also authorized a share repurchase program allowing it to buy back up to $200 million of its stock over the next 12 months.
Shares fell about 20% to $27.12 in morning trading on Friday following the earnings release.
Related: Figure Technology unveils blockchain platform for direct stock lending: Report
Crypto stocks surged in 2025 before retracing
Figure began trading on the Nasdaq in September after pricing its initial public offering at $25 per share, raising nearly $800 million. The stock rose more than 24% on its first day of trading and climbed to a high near $74 in January, before retreating.
Figure’s post-IPO trajectory mirrors volatility seen across other crypto-linked equities, many of which rallied sharply in late 2025 before surrendering gains amid the broader crypto market pullback.
Shares of crypto exchange Gemini Space Station (GEMI) surged on its Nasdaq debut on Sept. 12 after pricing its IPO at $28 per share. The stock briefly topped $40 on its first day of trading, but has since fallen to around $5.94, at the time of writing.
Stablecoin issuer Circle also experienced a volatile debut. The company went public on June 5, after upsizing its IPO to $1.05 billion, selling 34 million shares at $31 each, above its initial target of 24 million shares priced between $24 and $26.
In its first day of trading, Circle’s shares surged 167%, opening at $69 and climbing as much as 235% intraday before closing at $82. The stock later reached an all-time high of $263.45 on May 25, then retraced nearly 70% to around $83, per Yahoo Finance data.
Magazine: Would Bitcoin really be at $200K if not for Jane Street? Trade Secrets
The White House pushed for a breakthrough on stablecoin yield negotiations for the CLARITY Act this weekend. It did not happen. Instead, fresh reports from sources close to the talks suggest the crypto market structure bill remains far from a final deal.
Banking representatives and crypto lobbyists are still divided over whether stablecoins can generate yield for users. That dispute continues to block progress in the Senate.
The CLARITY Act Nowhere Near a Resolution?
According to Eleanor Terrett, banking-side sources described the negotiations bluntly. Draft language exists, but the sides are “not close.”
Other banking trade groups pushed back on claims the talks are collapsing, saying discussions are ongoing and input on draft text continues.
The split narrative reflects how fragile the negotiations have become.
Where the Bill Stands Now
The House passed the CLARITY Act in July 2025 with bipartisan support. The bill aims to define when digital assets fall under SEC oversight and when they qualify as commodities under the CFTC. It also establishes registration rules for exchanges, brokers, and custodians.
After clearing the House, the bill moved to the Senate Banking Committee. There, it stalled.
No markup has been completed. No floor vote is scheduled.
The legislation remains stuck in committee.
Stablecoin Yield Is the Flashpoint
Originally, the bill focused on regulatory clarity between the SEC and CFTC. But in early 2026, the fight shifted to stablecoins.
Senate negotiators introduced draft language that would restrict interest or yield payments tied to stablecoin holdings. Banks support tighter limits. They argue that yield-bearing stablecoins could function like unregulated bank deposits.
Crypto firms strongly oppose that view. Coinbase CEO Brian Armstrong has publicly argued that stablecoins can generate yield responsibly and that banning rewards would harm innovation.
That disagreement now threatens the broader market structure framework.
White House Pressure, But No Breakthrough
The White House has convened meetings between banks and crypto firms in recent weeks. Officials reportedly wanted a deal on yield before March.
However, sources say key language remains unresolved.
Bank trade groups such as the American Bankers Association and the Independent Community Bankers of America have reportedly rejected claims that negotiations are collapsing. Still, there is no finalized text.
What Is Still Unresolved
Four core issues remain:
- Whether stablecoin rewards count as prohibited interest
- How sharply to limit exchange incentives
- The final boundary between SEC and CFTC authority
- The scope of obligations for DeFi developers
Until yield language is settled, broader market structure reforms cannot move forward.
When Will the CLARITY Act Pass?
The next key step is a Senate Banking Committee markup. No date has been announced.
If negotiators narrow differences in March, a committee vote could follow later in the month. If talks drag on, the bill risks slipping deeper into election-year politics.
For now, the CLARITY Act remains alive — but stalled.
The question is no longer whether Congress wants crypto rules. It is whether banks and crypto firms can agree on who controls stablecoin economics.
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