Crypto World
Eric Trump’s American Bitcoin Expands Hashrate, Deepens BTC Bet
Trump family-backed American Bitcoin said Tuesday it has expanded its fleet of Bitcoin mining machines, increasing its computing capacity as competition among large-scale miners intensifies.
The company has acquired 11,298 new application-specific integrated circuit (ASIC) miners, which are expected to add about 3.05 exahashes per second (EH/s) to its operations once it is deployed at its Drumheller, Alberta site this month.
The purchase will boost American Bitcoin’s fleet size to 89,242 miners, representing about 28.1 EH/s of owned capacity.
The additional machines are rated at about 13.5 joules per terahash, a measure of energy efficiency that can influence operating margins in an industry where electricity costs are a primary expense.
The expansion increases American Bitcoin’s share of the global Bitcoin network’s total hashrate, modestly improving its probability of earning block rewards. However, higher computing power does not automatically translate into higher revenue. Mining profitability remains dependent on Bitcoin’s market price, network difficulty levels and energy costs.
Network difficulty stands at 144.40 T, meaning that 144.40 trillion hashes are needed to find a valid block hash, according to CoinWarz. It has been at that level since Feb. 19.
Shares of American Bitcoin were little changed following the announcement before trading lower into Tuesday’s session, broadly in line with weakness across equity markets.
Related: Bitcoin mining’s 2026 reckoning: AI pivots, margin pressure and a fight to survive
Bitcoin-heavy treasury strategy carries risk
American Bitcoin, which went public last year through a reverse merger with Gryphon Digital Mining, has adopted a Bitcoin-centric corporate strategy that extends beyond mining operations.
In addition to expanding its hashrate, the company has accumulated more than 6,000 Bitcoin (BTC) on its balance sheet, according to industry data. The strategy mirrors a growing trend among mining companies that retain a significant portion of the Bitcoin they mine rather than sell it immediately, effectively using production to build long-term exposure to the asset.
Holding large Bitcoin reserves can amplify gains during price rallies, strengthening the company’s balance sheet and potentially enhancing shareholder value. However, the strategy also increases exposure to price volatility.
That risk became evident in the fourth quarter, when American Bitcoin reported a net loss of $59 million. The loss was largely driven by a $227 million non-cash mark-to-market adjustment reflecting Bitcoin’s price decline during the period. Such accounting adjustments do not represent realized losses but can materially impact reported earnings.
Related: Bitcoin miners chase 30 GW AI capacity to offset hashprice pressure
Regulators in Washington signaled renewed urgency around how crypto markets are structured and regulated, as a Milken Institute panel brought together key U.S. overseers to discuss perpetual futures, prediction markets and the broader market framework. CFTC Chair Michael Selig outlined a path to US-accessible perpetual futures, while SEC Chair Paul Atkins pressed for greater congressional clarity to steer crypto policy. The conversations come amid ongoing questions about governance, enforcement actions against prediction-market platforms, and a stalled market-structure bill that remains the subject of intense debate in Congress. With the CFTC short of a full slate and lawmakers weighing ethics, stablecoins and tokenized equities, the regulatory tempo appears poised to intensify in the weeks ahead.
During the Washington event, Selig said the Commission is actively pursuing a pathway to “true perpetual futures” for digital assets in the United States, aiming to deliver a functional version “within the next month or so.” The comments underscored a coordinated push to bring crypto product design closer to traditional futures markets and to anchor these instruments within a domestic legal framework rather than offshore venues. Selig’s remarks reflect a broader objective: reduce regulatory arbs and promote market integrity by establishing a clear, US-based regime for innovative derivatives tied to cryptocurrencies.
Notably, Selig currently stands as the sole Senate-confirmed commissioner at the CFTC, a vacancy-heavy backdrop that has persisted for months. He noted the agency’s reliance on a sense of congressional direction to advance policy and market structure reforms, underscoring how essential new leadership could be for momentum. In a panel exchange with Atkins, Selig pointed to the reality that, historically, “the prior administration drove a lot of these firms and the liquidity offshore,” a reality many market participants have cited as a driver of fragmented liquidity and uneven regulatory oversight.
Beyond futures, Selig signaled that the CFTC intends to publish guidance on prediction markets “in the very near future.” The agency has long asserted jurisdiction over event-contract platforms such as Kalshi and Polymarket, a stance that has drawn scrutiny from states pursuing their own enforcement actions against these operators. The discussion at Milken highlighted a recurring theme in crypto policy: the tension between federal authority and state-level actions, and the need for clear, uniform standards to prevent a patchwork regulatory environment that complicates compliance for innovators and operators alike.
On the topic of market structure, Atkins stressed the importance of legislative clarity. He described the ongoing digital asset market-structure bill as moving through Congress but effectively paused as the White House and lawmakers navigate debates over ethics, stablecoin yield and tokenized equities. Atkins argued that the SEC needs statutory direction to direct the courts and support the commission’s crypto initiatives, while Selig countered that “there’s only so much you can do without legal certainty from Congress.” The exchange of views captured a broader cross-agency push for a map of responsibilities that could harmonize enforcement, supervision and market access for crypto products.
These remarks come as the Senate Banking Committee has not yet scheduled a markup for the market-structure bill, according to multiple briefings. The White House has been holding a stream of talks with industry leaders on stablecoin yield, a topic that continues to generate both optimism and risk for policy pathways. While administration officials have signaled interest in advancing a framework, observers note that substantive progress remains contingent on navigating concerns about consumer protections, financial stability and the implications for the broader asset class. The absence of a clear legislative timetable has left exchanges, liquidity providers and investors watching closely for any signs of accelerated action or renewed negotiation on key provisions.
Why it matters
The near-term focus on perpetual futures, prediction markets and market structure signals that the U.S. regulatory narrative around crypto is shifting from scattered enforcement and piecemeal guidance toward a more integrated framework. If the CFTC can operationalize a US-based perpetual futures regime in weeks, it could draw liquidity back from offshore venues and consolidate activity within regulated platforms, potentially improving transparency, disclosure and risk controls for retail and institutionally backed trades.
At the same time, the push to clarify the regulatory status of prediction markets—platforms that allow users to trade on event outcomes—has the potential to redefine how decentralized information markets operate in the United States. The CFTC’s insistence on exclusive jurisdiction over event contracts contrasts with ongoing state-level actions against Kalshi and Polymarket, highlighting a broader strategic debate about federal supremacy versus state experimentation. The outcome could influence where innovation remains permissible and where compliance costs rise, shaping the trajectory of experimentation in event-based speculation and its integration with broader DeFi ecosystems.
Meanwhile, the market-structure bill sits at a crossroads. Proponents argue that a statutory framework would reduce uncertainty for market participants and provide a clear mandate for both the CFTC and the SEC. Critics contend that the legislation, if rushed, may neglect nuanced issues such as governance, transparency, and consumer protection. The discussions around stablecoins—central to the policy package—illustrate how a single policy thread can ripple across multiple regulatory domains, affecting liquidity, yield strategies and the potential for tokenized financial instruments. The net effect for users and builders is a heightened need for precise, verifiable guidance and a predictable regulatory clock that can support sustainable product development.
These developments are unfolding against a backdrop of ongoing policy chatter and industry dialogue. The Milken Institute event, the subsequent reporting on Selig’s remarks, and the broader media coverage of market-structure debates collectively reinforce a sense that Washington is recalibrating how crypto markets should operate within a traditional financial framework. As policymakers weigh the balance between innovation and protection, the sector watches for concrete milestones—whether a formal rulemaking, a legislative markup, or a fresh round of guidance—that could anchor near-term decisions around product design, liquidity strategies and risk management.
For investors and developers, the implications are twofold. First, a cleared path for perpetual futures could attract more liquidity to compliant, U.S.-based venues, reducing reliance on offshore liquidity pools that have often been a feature of the crypto derivatives landscape. Second, clear guidance or legislation on prediction markets and stablecoins would help define permissible structures and capital requirements, potentially unlocking new product categories while imposing guardrails designed to reduce systemic risk. In short, the next few weeks could prove pivotal for how deeply regulated, institutionally aligned crypto markets become in the United States, and how much of the global liquidity shift back toward home shores will actually materialize.
As policymakers keep their focus on the balance between innovation and protection, market participants should monitor several concrete signals: when the CFTC releases its true perpetual-futures guidance; whether prediction markets receive formal regulatory clarity; whether the market-structure bill advances in markup; and how the White House’s ongoing discussions with industry translate into concrete policy proposals. The convergence or divergence of these threads will likely shape the trajectory of U.S. crypto market infrastructure for the remainder of the year.
Core Scientific, a Bitcoin mining company, announced this week its plans to sell nearly all of its Bitcoin holdings to fund its shift towards AI and high-performance computing.
The move reflected a broader trend in the Bitcoin mining industry. However, it also raised questions over the purpose of sustaining Bitcoin treasuries, especially in light of a broader market downturn.
Bitcoin Miner Reduces Holdings for Growth
Core Scientific unveiled on Monday its plans to use the proceeds from its Bitcoin sales to finance its growing data center buildout. According to its most recent 10-K filing, the company sold 1,924 Bitcoin between December and February for aggregate proceeds of nearly $176 million.
According to Bitcoin Treasuries, Core Scientific currently holds 613 Bitcoin, worth nearly $42 million.
The company also announced that it will transition its Pecos, Texas, facility from Bitcoin mining to colocation services, a move that aligns with rising demand for artificial intelligence (AI) infrastructure.
The change reflects a broader trend among Bitcoin miners seeking more lucrative business models. It also coincides with weaker Bitcoin prices and rising energy costs, which have burdened miners’ operations.
Last December, BeInCrypto reported that Bitcoin mining profitability hit record lows by the end of 2025, with 70% of the top 10 Bitcoin mining companies already generating revenue from infrastructure services.
Core Scientific became the latest miner to do so, joining CleanSpark, Riot Platforms, and IREN, among others.
However, its latest move not only reflects general restructuring but also indicates a shift away from Bitcoin accumulation.
Bitcoin’s Stagnation Raises Questions for DATs
Core Scientific’s Bitcoin holdings, prior to its recent sell-off, were not among the largest in the industry. According to Bitcoin Treasuries, it ranks 59th out of the top 100 public Bitcoin treasury companies.
However, the scale of this sell-off has sparked questions about the future profitability of digital asset treasuries (DATs).
This shift also coincides with MARA Holdings revising its treasury policy, now allowing the sale of Bitcoin held directly on its balance sheet.
The announcement marked the second-largest Bitcoin holding company’s sharp departure from its prior “full HODL” stance. It also raised broader questions over whether other DATs will soon follow suit.
Bitcoin’s failure to reach new highs, instead stagnating, has raised broader concerns. As of writing, its price is $68,000, but it has fallen 11% over the past month and 27% over the past three months.
The possibility of Bitcoin returning to its previous all-time high of $126,000 now seems increasingly unlikely.
Meanwhile, Strategy (formerly MicroStrategy), the top Bitcoin treasury holder, remains committed to Bitcoin, with founder Michael Saylor tweeting on Tuesday, “I’m buying Bitcoin right now. Are you?”
However, the volatility of its stock, MSTR, has raised concerns about investor confidence.
Meanwhile, Phong Le, the company’s CEO, admitted last November that Strategy might be forced to sell Bitcoin under specific crisis conditions.
MARA Holdings, one of the world’s largest Bitcoin mining companies, has rejected claims that it plans to unload the majority of its Bitcoin holdings following speculation about a shift in its treasury policy.
The clarification came in a post on X from MARA vice president for investor relations Robert Samuels, who said the company has not altered its core Bitcoin (BTC) treasury approach.
His remarks were a direct response to SwanDesk adviser Jacob King, who claimed Tuesday that MARA had shifted toward a sell-down strategy, citing filings with the US Securities and Exchange Commission. King’s post had received more than 325,000 views at the time of writing.
Samuels pointed to the company’s 2026 10-K filing, which states that MARA expanded its policy to allow for potential sales of Bitcoin held on its balance sheet.
“Our 2026 10-K clearly states we expanded our strategy to allow for sales of bitcoin held on our balance sheet,” Samuels wrote.
As Cointelegraph initially reported, the filing authorizes discretionary transactions based on market conditions and capital allocation priorities, rather than mandating a reduction in reserves.
The distinction, Samuels argued, is between preserving optionality and committing to a material drawdown of Bitcoin treasury holdings.
MARA has historically positioned itself as a long-term Bitcoin holder, making any perceived shift in its treasury strategy closely watched by investors and market participants.
Related: Bitcoin mining’s 2026 reckoning: AI pivots, margin pressure and a fight to survive
MARA doubles down on diversification while maintaining a large BTC treasury
While MARA has broadened its operational footprint in recent years, its balance sheet remains heavily tied to Bitcoin exposure.
That diversification accelerated last month when MARA acquired a 64% stake in Exaion, a France-based computing infrastructure company focused on high-performance computing and blockchain services.
Even so, Bitcoin remains central to MARA’s balance sheet. The company holds 53,822 BTC, valued at about $3.7 billion, making it the largest publicly traded Bitcoin miner by treasury size.
Among public companies overall, only Michael Saylor’s Strategy holds more, with over 720,000 BTC accumulated to date.
Related: American Bitcoin boosts hashrate with 11,298 new mining machines
Crypto World
Bybit Retrieves $300M for Thousands of Users Through AI-Enhanced Fraud Prevention: Report
Beyond recoveries, Bybit blocked 3 million credential-stuffing attempts tied to account takeover schemes in 2025.
Bybit has reported recovering $300 million for thousands of users at a time when crypto-related fraud remains high across the industry.
The exchange attributed these efforts to an AI-powered fraud detection system that intervenes before people lose their funds.
Security Initiative Results
Bybit shared the results of its 2025 Security Initiative, stating on social media,
“We raised the standard in 2025, intercepting $300M in impersonation scams and fraud through our new AI-driven risk framework.”
The announcement comes as crypto fraud continues to weigh on the sector, with Chainalysis data showing that $17 billion in digital assets was drained in scam and fraud cases in 2025.
The report reveals that in the fourth quarter alone, the exchange flagged $500 million in withdrawals for review. Of that amount, $300 million was successfully intercepted and recovered, protecting the savings of more than 4,000 users.
During the same period, Bybit’s proprietary AI models identified 350 high-risk investment fraud addresses using on-chain data, shielding 8,000 people from potential withdrawal losses. The company also reported blocking over 3 million credential-stuffing attempts linked to account-takeover efforts in 2025.
Additionally, its system automatically labeled 350 suspicious addresses, and it manually tagged 600 more via internal ticket operations, preventing a further $1 million in imminent fraud losses.
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David Zong, Head of Group Risk Control at Bybit, said in a statement that the firm’s goal in 2025 was to transform risk control into an active and intelligent guardian by integrating AI and on-chain monitoring.
“By integrating AI-driven on-chain monitoring with real-time intelligence from industry partners like TRM, Elliptic and Chainalysis, we not only just protect Bybit users but also help map the DNA of fraudulent networks,” he wrote.
Three-Tier Risk Framework
Bybit’s protection model structures potential scam scenarios into three escalating tiers while preserving normal trading activity. At the lowest risk level, the platform uses big data analysis to detect unusual activity, such as mass withdrawals to newly created addresses, and deploys automated surveys to support its Risk Operations team in blacklisting suspicious destinations.
Real-time alerts trigger during the withdrawal process for medium-risk cases, such as accounts flagged through credential stuffing databases or linked to questionable withdrawal addresses. This, in turn, prompts individuals to review transactions that may be influenced by social engineering tactics.
At the highest level, wallet addresses associated with confirmed scams face immediate withdrawal blocking and a mandatory one-hour cooling-off period.
The report concluded by outlining standardized monitoring indicators for wider industry use, including an anti-credential stuffing engine, real-time on-chain AI pattern recognition for pig butchering flows, an integrated intelligence hub combining tools from TRM Labs, Elliptic, and Chainalysis, and an end-to-end cross-chain tracing model for illicit fund tracking.
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SEC Chair Paul Atkins and CFTC Chair Michael Selig addressed market structure, prediction markets and perpetual futures at a Tuesday event.
Michael Selig, chair of the US Commodity Futures Trading Commission (CFTC), said the agency will soon address how to handle perpetual futures contracts for cryptocurrencies.
In a Tuesday panel hosted by the Milken Institute in Washington, DC, Selig said that the CFTC was working toward getting “true perpetual futures” in the United States “within the next month or so.”
The CFTC chair is currently the only Senate-confirmed commissioner, with no indication as of Tuesday that US President Donald Trump will nominate anyone to fill any of the agency’s four vacant commissioner slots.
“The prior administration drove a lot of these firms and the liquidity offshore,” said Selig in a panel discussion with SEC Chair Paul Atkins.
Selig added that the CFTC was working to provide guidance regarding prediction markets “in the very near future.” He claimed in February that the agency had “exclusive jurisdiction” over regulating platforms offering event contracts, pushing back against many state-level enforcement actions against companies including Kalshi and Polymarket.
Related: Can US lawmakers pass crypto market structure before the midterms?
Market structure bill will impact SEC and CFTC
Atkins addressed concerns related to the digital asset market structure bill moving through Congress, which, according to some experts, has effectively been put on hold amid discussions on ethics, stablecoin yield and tokenized equities. According to the SEC chair, the agency needed a “sense of Congress enshrined in statutory form” to “direct the courts where to go” and support the commission’s efforts on crypto.
“There’s only so much you can do without legal certainty from Congress,” Selig said in response to Atkins’ remarks.
As of Tuesday, the Senate Banking Committee had not scheduled a markup to consider the market structure bill. The White House held the latest in a series of talks with industry leaders last week on stablecoin yield, but it was unclear whether those discussions would result in the legislation moving forward.
Magazine: Clarity Act risks repeat of Europe’s mistakes, crypto lawyer warns
Solana (SOL) has been facing a period of consolidation, with its price fluctuating between $87 and $77 in recent weeks. However, recent developments in the market suggest that the cryptocurrency could be at risk of a significant downturn.
A bearish pattern has emerged, and shifting investor behavior could trigger a price crash, with potential losses of up to 38% if SOL breaks below key support levels.
Rising Concern: Solana STHs Profits
One of the key indicators raising concern for Solana is the LTH vs. STH NUPL (Long-Term Holder vs. Short-Term Holder Net Unrealized Profit/Loss). Since February, the unrealized profits of short-term holders (STHs) have been steadily climbing.
STHs are typically quick to sell when they see profits, and this could add significant selling pressure on Solana’s price. The absence of a similar profit rise among LTHs means that there is less stabilization from long-term holders.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
In fact, if the LTHs were to panic sell as well, it could further exacerbate the downward pressure on the price. The lack of support from these long-term holders raises the risk of intensified selling in the market.
Solana Faces Increased Selling Pressure
The overall macro momentum for Solana is showing signs of weakness. The Exchange Net Position Change indicator has highlighted a rising trend in exchange inflows, which signals increased selling activity.
Over the last four weeks, this indicator has consistently noted that Solana is facing selling pressure from investors, further contributing to the bearish sentiment surrounding the asset.
As more Solana holders sell their holdings, the downward pressure on SOL could intensify. This increasing sell-off could compound the bearish pattern forming on the charts, making it more likely that the price will break down below critical support levels.
SOL Price May Fall Out Of The Flag
At the time of writing, Solana is trading at $83, remaining rangebound between $77 and $87. The formation of a bearish flag pattern indicates that the price could experience a significant drop if it breaks below the $77 support level. A breakdown below this level could set Solana up for a 38% crash, with the price potentially falling to as low as $51.
In order for this crash to occur, the selling pressure would need to continue rising, and Solana would need to break the $64 support level. If this happens, the price could fall to $57, $51, and eventually $45, validating the bearish pattern.
However, if investor sentiment shifts and focus turns toward supporting a recovery, Solana’s price could break out of the consolidation. If SOL manages to breach resistance levels at $88 and $96, it would invalidate the bearish outlook, potentially sending the price upward toward $100, marking a monthly high.
Crypto World
JP Morgan CEO Jamie Dimon says stablecoin issuers paying interest should be regulated as banks
JPMorgan Chase CEO Jamie Dimon said banks want stablecoin issuers that pay interest on customer balances to face the same rules as traditional lenders, sharpening an ongoing debate over U.S. crypto legislation.
In an interview with CNBC on Tuesday, Dimon addressed reported tensions with Coinbase CEO Brian Armstrong, who pulled support for the proposed CLARITY Act just one day before the Senate Banking Committee was scheduled to vote on it. Dimon argued that there needs to be a line between rewards paid on transactions and interest paid on stored balances.
“Rewards are the same as interest,” Dimon said. “If you are going to be holding balances and paying interest, that’s the bank. You should be regulated by a bank.”
Banks would accept a compromise in which crypto platforms offer rewards tied to transactions, he said. But firms that function like deposit-taking institutions should meet the same standards as banks, including capital and liquidity rules, anti-money laundering controls and federal deposit insurance requirements.
Dimon framed the issue as one of fairness and safety.
“Level playing field by product,” he said, arguing that companies offering similar financial services should operate under similar oversight. Without that parity, he warned, risks could build outside the regulated system. Armstrong, on the other hand, has said he believes that banks should be forced to compete instead.
Dimon, however, stressed that JPMorgan does support competition and uses blockchain in its own operations. The bank has developed a deposit token and processes payments and data transfers on distributed ledger systems. “We’re in favor of competition,” he said. “But it’s got to be fair and balanced.”
He also pointed to the broader compliance burden banks carry, from anti-money laundering checks to community lending obligations. Those requirements, he said, are designed to protect the financial system.
“For the safety of the system, not just the fairness of competition,” Dimon said.
The debate over stablecoin oversight has become a central issue in Washington as lawmakers weigh how to regulate digital assets without pushing activity into less transparent corners of the market. Lawmakers are reviewing new draft language circulated by the White House, though the banking and crypto industries have yet to reach agreement on whether stablecoin issuers should be allowed to offer yield on customer balances.
Ripple is expanding its global payments platform to give banks and fintechs a more complete stablecoin workflow, aiming to speed up cross-border settlements and cut the time and capital tied up in traditional networks. The upgrade to Ripple Payments adds capabilities for collecting, custodying, converting, and payout of stablecoins, tying together institutional rails with on-chain settlement. The move marks a deeper push to compete with legacy providers by reducing reliance on pre-funded accounts and correspondent banking chains that can bind up liquidity and slow transfers. The announcement comes as Ripple showcases its growing footprint across markets and its evolving infrastructure footprint in a sector where liquidity, speed, and regulatory clarity increasingly shape the competitive landscape.
Key takeaways
- Ripple Payments now supports end-to-end stablecoin workflows for institutions, including collection, custody, conversion, and payout, expanding its role beyond simple settlement rails.
- The upgrade is designed to reduce dependence on pre-funded accounts and traditional correspondent banking networks, potentially accelerating cross-border transactions and lowering liquidity bottlenecks.
- Ripple’s dollar-pegged token is gaining traction in the ecosystem, with the circulating supply nearing the hundreds of millions and growing as the platform expands adoption across institutions.
- The company has pursued strategic acquisitions to strengthen custody and treasury automation, notably Palisade and Rail, signaling a broader push into asset management and fiat/stablecoin interoperability.
- Regulatory momentum in the United States accompanies this growth, including discussions around a US crypto market structure bill and recent bank-charter considerations, underscoring the coupling of infrastructure growth with oversight.
Tickers mentioned: $RLUSD
Market context: The expansion aligns with a broader push in crypto-financial infrastructure toward regulated, on-chain settlement rails and stablecoin interoperability, as lawmakers weigh oversight frameworks and market structure changes.
Why it matters
The move deepens Ripple’s integration with traditional financial ecosystems by offering a turnkey stablecoin workflow that can be plugged into existing bank processes. For banks and fintechs, this means a potential reduction in the capital that must be set aside for pre-funded accounts and fewer intermediaries in the flow of cross-border payments. By combining custody, conversion, and payout within a single platform, Ripple aims to streamline liquidity management and settlement timing, which could translate into faster settlements and improved working capital efficiency for institutions participating in the network.
Beyond operational efficiencies, the expansion signals a maturation of the stablecoin payments ecosystem. The dollar-pegged token that Ripple supports is gradually gaining scale, and the company is citing real-world institutional usage as it broadens its footprint. The liquidity and settlement rails, already used in more than 60 markets and handling substantial transaction volume, are being extended to accommodate broader use cases, including treasury management and interbank settlements across regions.
Strategically, the push comes as Ripple consolidates its position through acquisitions that bolster custody and fiat-to-stablecoin exchange capabilities. The deals for Palisade and Rail underpin a broader thesis: to offer institutions a more seamless, auditable, and automated treasury stack that can manage digital and fiat assets under a unified framework. This aligns with industry trends toward more robust custody and compliance tooling as crypto assets gain traction in regulated environments.
Regulatory momentum complements the growth. In December, the US Office of the Comptroller of the Currency signaled a path for national bank charters that would cover crypto-adjacent operations, though with clear boundaries around deposit-taking and lending. The development, coupled with ongoing negotiations in Washington over a crypto market structure bill and stablecoin provisions, highlights a year of increasing clarity around how the sector could scale within the traditional financial system. Ripple’s legal leadership has been active in shaping these discussions, underscoring the company’s role in informing and responding to regulatory expectations as the ecosystem expands.
The corporate maneuvers—plus the regulatory dialogue—sit within a broader narrative of capital-efficient, faster payments via on-chain rails that could redefine cross-border liquidity management for financial institutions. As more banks and fintechs look to digital settlement capabilities, Ripple’s end-to-end solution could become a reference architecture for institutional adoption of stablecoins and digitized asset settlement, especially as policy conversations continue in the US and abroad.
What to watch next
- Regulatory milestones: finalization of national bank charter approvals and any concrete steps on the US crypto market structure bill with respect to stablecoins.
- Implementation milestones: timelines for broader integration of the end-to-end stablecoin workflow across additional institutions and regions, and updates on custody/treasury automation deployments from Palisade and Rail.
- Market adoption: indicators of increased institutional usage, including signed partnerships or pilot programs with banks and fintechs beyond the current roster.
- Liquidity and issuance dynamics: monitoring RLUSD (CRYPTO: RLUSD) supply growth and how it translates into on-chain settlement capacity and cross-border flows.
- Geopolitical/regulatory signals: any new guidelines or enforcement actions related to stablecoins and cross-border payments that could influence deployment strategy or product design.
Sources & verification
- Ripple announces end-to-end stablecoin platform expansion within Ripple Payments via Business Wire: Ripple Redefines Payments with End-to-End-Stablecoin Platform and Global Customer Momentum.
- Historical platform data and regional participants cited (AMINA Bank, Banco Genial, ECIB, AltPayNet) in the expansion narrative.
- RLUSD metrics and market data referenced from CoinMarketCap and related Ripple USD coverage.
- Regulatory context including OCC bank-charter discussions and the White House regulatory meeting involving Ripple’s OL team and other industry participants.
- Past acquisitions: Palisade (custody/treasury automation) and Rail (fiat/stablecoin interoperability) and their roles in expanding Ripple’s custody and settlement capabilities.
What the article links to
Ripple expands European footprint with Amina stablecoin payment partnership: https://cointelegraph.com/news/ripple-amina-stablecoin-cross-border-payments-europe
OCC approval discussions: https://cointelegraph.com/news/bitgo-circle-fidelity-bitgo-ripple-occ-approval-bank-conversion
Ripple CEO White House meeting on crypto banking clarity: https://cointelegraph.com/news/ripple-ceo-white-house-meeting-crypto-banking-clarity
Related coverage: Ripple acquired Rail for $200 million: https://cointelegraph.com/news/ripple-acquires-rail
RLUSD price index: https://cointelegraph.com/ripple-usd-price-index
RLUSD market data on CoinMarketCap: https://coinmarketcap.com/currencies/ripple-usd/
Announcement source: https://www.businesswire.com/news/home/20260303432530/en/Ripple-Redefines-Payments-with-End-to-End-Stablecoin-Platform-and-Global-Customer-Momentum?feedref=JjAwJuNHiystnCoBq_hl-bV7DTIYheT0D-1vT4_bKFzt_EW40VMdK6eG-WLfRGUE1fJraLPL1g6AeUGJlCTYs7Oafol48Kkc8KJgZoTHgMu0w8LYSbRdYOj2VdwnuKwa
BitGo Europe GmbH has launched its crypto-as-a-service offering across the European Economic Area, enabling fintechs and banks to integrate regulated crypto custody, trading and fiat on- and off-ramps under the EU’s Markets in Crypto-Assets (MiCA) framework.
According to Tuesday’s announcement, the expansion makes BitGo’s API-based infrastructure available in all 30 EEA countries, allowing institutions to embed wallet, onboarding and settlement services directly into their platforms. The service includes multi-asset wallets and Single Euro Payments Area (SEPA) fiat rails.
BitGo said custodial wallets are insured up to $250 million, subject to terms, and include configurable policy controls and 24/7 operational support. The platform supports buying, selling and holding Bitcoin (BTC) and other supported digital assets within a partner’s existing interface, with settlement handled through BitGo’s infrastructure.
The offering was previously available in the United States through BitGo Bank & Trust and is now operating in Europe via BitGo Europe GmbH, the company’s locally regulated entity.
BitGo has operated since 2013 and provides custody, wallets, staking, trading, financing, stablecoins and settlement services to institutional clients globally. The company went public on Jan. 22, trading on the New York Stock Exchange under the ticker BTGO.
BitGo stock was trading at $10.20, down about 1.6% on Tuesday and about 20% since going public, according to Yahoo Finance data at the time of writing.
Related: Stablecoins could weaken bank lending and monetary policy in Europe: ECB
Custody infrastructure expands in Europe
The rollout reflects broader growth in regulated custody infrastructure across Europe following MiCA’s implementation, as financial institutions formalize digital asset services under the EU’s licensing regime. Several banks have opted to work with specialized crypto companies rather than build custody systems internally.
In July, Deutsche Bank moved toward crypto custody through partnerships with Bitpanda’s technology unit and Swiss digital asset infrastructure provider Taurus.
Spain’s BBVA in September said it would rely on Ripple’s institutional custody platform to support its Bitcoin and Ether (ETH) trading and safekeeping services, citing MiCA compliance.
At the market infrastructure level, Clearstream, part of Deutsche Börse, said it would offer Bitcoin and Ether custody and settlement to institutional clients through its Swiss subsidiary Crypto Finance AG.
Others have chosen to structure custody services through licensed European entities. In January, Standard Chartered announced plans to launch digital asset custody in Europe after obtaining a license in Luxembourg, establishing a dedicated EU entity to deliver the service directly.
Magazine: Clarity Act risks repeat of Europe’s mistakes, crypto lawyer warns
Over a third of tracked altcoins now sit near cycle lows despite a broader market stabilization.
Summary
- CryptoQuant data shows 38% of altcoins are trading close to all-time lows, a deeper drawdown than during the post-FTX unwinding phase.
- Analyst Darkfost describes this as the “largest regression of altcoins observed during this cycle,” highlighting persistent structural pressure on non-BTC assets.
- While BTC holds near recent highs, dispersion between majors and smaller caps has widened, with altcoin underperformance pointing to weak liquidity and selective risk appetite.
On-chain analytics firm CryptoQuant reports that 38% of altcoins are currently trading close to their all-time lows, marking a more severe retracement than the period following the collapse of FTX. The metric, highlighted by analyst Darkfost, is designed to capture how many alternative tokens remain under sustained selling pressure, even as the broader market shows signs of stabilization.
In a note summarized on social media, Darkfost describes this as the largest regression in altcoins observed so far in the current cycle, underscoring how uneven the recovery has been between blue-chip assets and the long tail of speculative tokens.
Market participants commenting on the data pointed out that, unlike the post-FTX phase—when forced liquidations and distressed selling drove prices lower—the current environment features relatively fewer obvious forced sellers. Instead, altcoin weakness appears to be driven by a mix of low liquidity, tighter risk budgets, and a rotation into more established names such as BTC and ETH, which have captured the bulk of inflows into spot markets and regulated products. One observer noted that in the FTX aftermath, once the main overhang cleared, many assets staged at least a reflexive bounce, whereas now a significant share of altcoins remains pinned near their lows despite occasional rallies in majors.investing+2
Dispersion and liquidity stress
The divergence described by CryptoQuant has important implications for portfolio construction and risk management across digital assets. Rising dispersion—where some segments of the market trend higher while others grind lower—tends to increase both opportunity and risk, particularly for funds attempting to rotate between themes or capture relative value. With a large share of altcoins near ATL, liquidity in many order books has thinned, raising the impact cost of entering or exiting positions and increasing the potential for sharp, “Bart-style” intraday moves noted by traders.
At the same time, the data suggests a growing concentration of market interest in a smaller set of higher-quality or more narrative-driven assets, including BTC, ETH, and ecosystems such as SOL that continue to see comparatively stronger developer and user activity. Centralized venues like Coinbase have also funneled more volume into a limited basket of listed tokens, further amplifying the relative underperformance of smaller caps that lack deep markets or institutional access. In Europe, evolving regulatory frameworks like MiCA may reinforce this concentration by encouraging platforms to prioritize assets with clearer compliance and disclosure profiles, potentially leaving many fringe altcoins structurally disadvantaged even if broader crypto sentiment improves.
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