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Bitcoin Rally Faces Profit-Taking Pressure as Short-Term Holders Deposit 467,000 BTC to Exchanges

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Source; SosoValue

Bitcoin’s latest recovery is encountering increased profit-taking activity as short-term holders have transferred approximately 467,000 BTC, worth about $35.4 billion, to exchanges since August 17.

The shift comes as Bitcoin recently tested the $82,000 level while institutional demand through spot ETFs remains strong.

Bitcoin climbed roughly 4% over the course of September 3–4 before pulling back. At the time of writing, the cryptocurrency was trading around $79,673, reflecting a 0.41% drop over the past 24 hours.

Key Takeaways

  • Short-term holders have sent approximately 467,000 BTC worth $35.4 billion to exchanges since August 17.
  • The share of profitable Bitcoin exchange inflows increased from 35% to 92% after August 20.
  • Short-term holders are currently depositing around 27,500 BTC per day, about 29% above the previous three-month average.
  • Bitcoin ETF demand remains a counterweight, with approximately $730 million flowing into spot Bitcoin ETFs during the latest trading session.

Bitcoin Tests $82,000 as Selling Activity Changes

Bitcoin’s recent move higher has brought the cryptocurrency back toward levels last seen earlier in the year. The asset tested $82,000 between September 3 and 4 before giving up part of the advance.

The move occurred alongside a significant increase in demand for U.S.-listed spot Bitcoin ETFs. The products attracted approximately $730 million during the previous trading session, according to the market data cited in recent coverage.

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However, the on-chain picture suggests that the rally is also giving some investors an opportunity to lock in profits.

CryptoQuant said short-term holders have moved from a period of capitulation toward profit-taking as Bitcoin recovered from its recent weakness.

Bitcoin Short-Term Holders (STH) flipped from Capitulation to Profit-Taking. Since August 17, Short-Term Holders sent ~467K BTC ($35.4B) to exchanges. The key shift: profitable coins now dominate these flows.”

The distinction is important because exchange deposits can reflect different market conditions depending on whether the coins are being transferred at a profit or a loss.

Profitable Exchange Inflows Rise Sharply

CryptoQuant’s data shows a substantial change in the profitability of Bitcoin entering exchanges.

When Bitcoin was trading below the short-term holder realized price, only around 35% of exchange inflows were in profit. Since August 20, that proportion has climbed to approximately 92%.

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This suggests that the current wave of exchange transfers is being driven predominantly by holders who acquired Bitcoin at lower prices and are now sitting on unrealized gains.

The shift followed Bitcoin’s recovery above the short-term holder realized price of approximately $67,600. CryptoQuant said the cost basis for this group subsequently increased to around $70,600 within 15 days.

As newer market participants entered at progressively higher prices, their unrealized gains increased alongside Bitcoin’s recovery.

Daily Bitcoin Deposits Remain Above Average

The increase in profit-taking is also reflected in daily exchange activity.

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CryptoQuant estimates that short-term holders are currently sending approximately 27,500 BTC to exchanges each day, representing around $2.2 billion based on the firm’s calculations.

That daily flow is approximately 29% higher than the previous three-month average, indicating that short-term holder activity has become more pronounced during the recovery.

Despite the elevated deposits, Bitcoin has continued to trade at higher levels. This suggests that demand has so far been sufficient to absorb much of the Bitcoin being transferred toward exchanges.

CryptoQuant also placed the short-term holder MVRV ratio at 1.15, meaning the average investor within this group has an estimated unrealized profit of about 15%. Historically, the firm has observed that readings above 1.19 have accompanied more durable rallies, while levels below 1.12 have tended to coincide with shorter-lived moves.

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ETF Demand Provides a Counterweight

The increase in short-term holder selling is occurring alongside strong demand from spot Bitcoin ETFs.

The approximately $730 million recorded during the latest trading session represents a significant inflow and provides an important source of demand while other market participants are realizing gains.

This creates a contrasting flow pattern.

Source; SosoValue
Source: SosoValue

Short-term holders are moving profitable Bitcoin toward exchanges, potentially increasing available supply, while ETF investors are directing fresh capital into Bitcoin exposure.

The ability of demand to absorb these coins has so far allowed the market to maintain its recovery.

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What to Watch Next as Profit-Taking Increases

The key question is whether Bitcoin can continue absorbing elevated exchange deposits if short-term holders maintain their current pace of profit-taking.

The latest CryptoQuant data does not establish that the rally has ended. Instead, it shows that the character of selling has changed from capitulation toward profit realization.

Investors will likely watch short-term holder exchange flows, the $70,600 realized-price level, and continued ETF demand for indications of how the balance between available supply and new buying develops.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Cathie Wood Says Most Investors Do Not Appreciate This Critical Crypto Token

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LayerZero Price Performance

ARK Invest CEO Cathie Wood said most investors overlook the role LayerZero (ZRO) plays in cross-chain messaging, praising the team behind the interoperability protocol in a post on X.

Her post amplified an argument published two days earlier by Lorenzo Valente, ARK’s director of research for digital assets, who said LayerZero’s interoperability business alone will probably reach nine-figure annual recurring revenue (ARR).

Cathie Wood Says Investors Underrate LayerZero

Wood posted on Saturday that most investors “do not appreciate the important role” LayerZero plays in crypto messaging. She also singled out the founding team.

LayerZero relays verified messages between blockchains that cannot otherwise communicate. ARK counts more than 170 supported networks.

Valente made the original argument on Thursday. Messaging protocols turned into critical infrastructure as app-specific chains and rollups multiplied, he wrote. Demand grows further as tokenized real-world assets move on-chain.

The September 3 ARK paper behind Wood’s post puts scale behind the claim. Using data through June, it credits LayerZero with $280 billion in cumulative value transferred and 44% of cross-chain volume in the first half of 2026.

However, LayerZero does not own the category. Circle’s CCTP came second at 41%, and Chainlink pushes a similar cross-chain pitch through CCIP.

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ZRO Holds a Monthly Gain Despite Friday’s Drop

Traders have not followed Cathie Wood in the short term. ZRO trades near $1.04, down about 6% on the day. Its market value stands at $368.7 million, ranking it 120th.

The monthly picture looks stronger. ZRO has added roughly 36% over the past month, most of it in a jump between August 21 and August 23.

LayerZero Price Performance
LayerZero Price Performance. Source: BeInCrypto Markets

That rebound started from a record low. ZRO bottomed at $0.71 on July 31 and still trades far below its December 2024 peak of $7.47.

Supply keeps the pressure on. Monthly ZRO token unlocks add to a circulating base near 353 million.

ARK is not a neutral observer either. The firm discloses financial interests in both LayerZero Labs and ZRO, so its research doubles as a position.

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Meanwhile, Valente framed the revenue call as his own read, not a house forecast. Wood’s endorsement rests on that thesis. Part two of the ARK series may show whether the fees support it.

The post Cathie Wood Says Most Investors Do Not Appreciate This Critical Crypto Token appeared first on BeInCrypto.

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Dow Jones Futures Fall, Techs Rise After Market Rally; Tesla Cybercab, Jobs Report In Focus

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Dow Jones Futures Fall, Techs Rise After Market Rally; Tesla Cybercab, Jobs Report In Focus

Dow Jones futures fell slightly early Friday, while S&P 500 futures were little changed and Nasdaq futures rose. The August jobs report is due before the open. Tesla stock fell after a private Cybercab event, while Samsara and Zscaler led overnight earnings movers. The stock market had a strong session, with the major indexes all moving above a key short-term…

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Samsara Stock: Earnings, Revenue, Outlook Top Consensus Estimates

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Samsara Stock: Earnings, Revenue, Outlook Top Consensus Estimates

Samsara (IOT) stock popped Friday after the company reported fiscal second-quarter earnings and revenue that beat Wall Street’s targets while its October-quarter revenue guidance came in above views. The San Francisco-based company released its earnings report after the market close on Thursday. Samsara earnings rose 66% to 20 cents per share on an adjusted basis. Revenue for the operations platform…

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How to learn about the XRPPower intelligent automated trading solution and earn $1,000 in passive daily returns by holding XRP

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How to learn about the XRPPower intelligent automated trading solution and earn $1,000 in passive daily returns by holding XRP - 4

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.

With the continuous development of artificial intelligence and digital asset technology, more and more XRP holders are paying attention to automated trading and intelligent asset services. Rather than waiting for market price changes, some users hope to leverage AI data analysis and automated systems to understand and manage their digital assets more efficiently.

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Summary

  • XRPPower offers automated yield contracts supporting XRP, BTC, ETH, and USDT.
  • Contract plans advertise daily returns based on the amount deposited and the selected duration.
  • New users are offered a $21 bonus alongside two-level referral rewards of 3% and 2%.
  • The platform claims to use AI monitoring and security measures, though users should independently verify these claims.

XRPPower combines intelligent data analysis, automated operation, and digital asset services to provide XRP users with a convenient digital service platform. Users can register an account to learn about relevant automation solutions, participation conditions, and service rules, and choose according to their own needs.

How to learn about the XRPPower intelligent automated trading solution and earn $1,000 in passive daily returns by holding XRP - 4

How do new users get started with XRPPower?

1. Create an account

Quickly register an XRPPower account using your email address. After completion, you can log in to the platform to learn about the intelligent system and related services.

2. Browse service solutions

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View the different plans’ durations, participation conditions, rules, and related instructions, and choose the service that suits your needs.

3. Use supported digital assets

Depending on the platform’s currently supported methods, you can participate using digital assets such as XRP, BTC, ETH, and USDT. Please confirm the asset type, network, and specific rules before operating.

4. View account records

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After participating in the service, you can log in to your account at any time to check your balance. Users can withdraw funds directly or continue to purchase yield contracts as needed.

Some popular yield contracts

Investment amount: $1000, investment period: 7 days, daily yield: $13.2, principal returned at maturity: $1000

Investment amount: $5000, investment period: 15 days, daily yield: $70.5, principal returned at maturity: $5000

Investment amount: $10000, investment period: 20 days, daily yield: $153, principal returned at maturity: $10000

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Click to view all contract yields

How to earn long-term returns with zero investment

New users receive a $21 bonus upon registration, which can be used to purchase daily contracts, earning $0.60 per day.

Additional referral rewards

Log in to your account using your referral code or request a link to invite friends and family to join the XRPPower platform and earn permanent rewards of 3% + 2%.

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Example Description:

(A) User A refers User B to make an additional investment; if B invests $10,000, A will receive a 3% ($300) reward.

(B) User B refers User C to make an additional investment; if C invests $10,000, B will receive a 3% ($300) reward, while A will receive a 2% ($200) second-level referral reward.

XRPPower intelligent technology system: integrating AI and automation to create a new digital service experience

Security management, building multi-layer protection

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XRPPower improves security mechanisms at multiple levels, including account, data, and network, employing technologies such as SSL/TLS encryption, 2FA, multi-signature, cold and hot wallet management, and access control, and continuously optimizes account and system security management processes.

AI-powered intelligent analysis enhances system efficiency

The platform applies AI data analysis and automation technologies to system operation, continuously monitoring relevant data, account activity, and system status to help identify anomalies and improve operational efficiency. It also integrates DDoS protection, WAF, and other cybersecurity measures to further improve infrastructure.

Transparent information, clearer operations

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XRPPower continuously optimizes the platform interface and account functions, clearly displaying service cycles, participation conditions, relevant rules, and account records, allowing users to easily query information and make informed decisions.

Continuous upgrades, exploring AI-powered digital services

AI is transforming the way services are delivered in the digital asset industry. XRPPower will continue to focus on the development of artificial intelligence, automation, cybersecurity, and digital infrastructure, continuously improving the platform’s security, efficiency, transparency, and convenience through technological iteration and process optimization.

In the future, XRPPower will continue to leverage technology to create a more intelligent, clear, and convenient digital service experience for users.

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Learn more: https://xrppower.com/

Email: [email protected]

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.

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XRP could be poised for a new rally, with holders earning up to $7,000 a day

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Fed sends a key signal: XRP could be poised for a new rally, with holders earning up to $7,000 a day - 3

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.

Since the start of September, the cryptocurrency market has once again been influenced by macroeconomic news from the Federal Reserve.

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Summary

  • XRP rebounded to about $1.45 after Fed rate-hike concerns eased.
  • The token gained roughly 5% weekly and 37% over the past month.
  • Traders are monitoring $1.35–$1.38 support and resistance near $1.70.
  • EX DeFi advertises cloud-mining contracts and support for several digital assets.

On Sep. 3, Federal Reserve Governor Christopher Waller stated that he favors maintaining current interest rates rather than immediately raising them further. This stance alleviated market concerns regarding a potential September rate hike and boosted Bitcoin and other major crypto assets, with XRP briefly rebounding to around $1.45.

Waller’s comments drew market attention because interest rate expectations have long been a key factor influencing digital assets. A pause in rate hikes could ease upward pressure on the US dollar and Treasury yields, further heightening investor interest in digital assets, including cryptocurrencies.

Why is XRP back in the spotlight?

Amid shifting expectations regarding Fed policy, XRP has returned to investors’ radar. Recent market data shows XRP rebounding to approximately $1.45 in early September, posting a gain of about 5% over the past week and a cumulative rise of roughly 37% over the last month. Meanwhile, continued inflows into XRP spot ETFs have further intensified focus on institutional participation.

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Fed sends a key signal: XRP could be poised for a new rally, with holders earning up to $7,000 a day - 3

From a technical perspective, the $1.35–$1.38 range remains a critical support zone. If XRP can hold above this level and break through recent resistance, it could challenge higher price points.

Many traders and analysts are now watching to see if XRP can retest the $1.70 level and move closer to $2.00. For investors concerned that XRP might not break the $2.00 mark in the short term, a practical question arises: rather than simply waiting for price appreciation, are there more flexible ways to utilize their digital assets and explore opportunities for additional long-term returns?

Against this backdrop, an increasing number of XRP holders are shifting their investment strategies toward the EX DeFi cloud mining platform, seeking a more stable path for asset growth that is insulated from cryptocurrency market volatility.

Why might Fed policy impact XRP?

The cryptocurrency market is highly sensitive to changes in interest rates. When the market anticipates further interest rate hikes, capital typically gravitates toward traditional assets offering higher yields and relatively lower risk; conversely, when expectations for rate hikes subside, some capital may seek opportunities in risk assets such as stocks and digital assets.

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In a speech on Sep. 3, Waller noted signs that recent inflation data has begun to cool. If this trend persists, he favors maintaining current interest rate levels. This statement alleviated some traders’ concerns regarding further rate hikes and drove simultaneous gains in both stock and cryptocurrency markets that day.

For XRP, Federal Reserve policy is just one factor influencing its price. ETF inflows, regulatory developments, and market expectations regarding XRP’s long-term utility are also key drivers of its price appreciation.

XRP holders are seeking additional ways to grow their asset value

As XRP price volatility increases, some holders are exploring ways to engage with digital assets beyond simple holding and trading.

The EX DeFi cloud mining platform focuses on digital asset mining via cloud-based computing power. It allows users to participate without purchasing or maintaining specialized mining hardware and enables account management via mobile phones—a streamlined approach that is attracting growing interest from investors.

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Key features of the platform include:

New user experience: Receive $17 worth of trial computing power upon registration.

No specialized hardware required: Users manage cloud computing power via mobile phones, eliminating the need to deploy specialized equipment like ASICs.

Security and compliance: The platform adheres to international security standards—including McAfee®, Cloudflare®, and 2FA verification—and utilizes cold wallet isolation to enhance fund security.

Affiliate rewards program: Users can earn affiliate rewards of up to 5% by inviting friends.

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Green energy philosophy: Mining operations utilize green energy infrastructure to minimize the environmental impact of energy consumption.

Support for multiple digital assets: The platform supports a wide range of mainstream digital assets, including XRP, BTC, ETH, USDT, USDC, BNB, DOGE, LTC, and SOL.

About EX DeFi

Founded in 2021, EX DeFi is a platform specializing in cloud mining and digital asset-related services. It currently provides fully automated cloud mining solutions to over 2 million users across more than 180 countries and regions worldwide. 

The platform’s core philosophy is to lower the hardware and technical barriers associated with traditional mining, allowing users to participate in cloud mining services online without the need to purchase their own mining rigs.

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How do you get started with EX DeFi?

1. Register an account

Create an account using your email address on the official EX DeFi platform. Upon registration, you will receive a $17 trial credit.

2. Select and activate a contract

Choose a cloud mining contract that suits your needs and start automated mining with a single click.

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3. View earnings

Once the cloud mining contract is activated, the system automatically allocates computing power to the mining pool and settles earnings within 24 hours. You can choose to withdraw your mining profits or reinvest them.

Mining contract plans:

Investment: $100 | Duration: 2 days | Daily return: $4 | Total profit: $100 + $8

Investment: $500 | Duration: 6 days | Daily return: $6.5 | Total profit: $500 + $39

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Investment: $1,000 | Duration: 10 days | Daily return: $13.5 | Total profit: $1,000 + $135

Investment: $5,000 | Duration: 20 days | Daily return: $73.5 | Total profit: $5,000 + $1,470

Investment: $10,000 | Duration: 30 days | Daily return: $161 | Total profit: $10,000 + $4,830

Click here to visit the EX DeFi platform and view more details about the mining contracts.

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What to watch for in the future?

As we enter September, the market environment for XRP is shifting. XRP ETF capital flows and developments regarding US regulatory policies in mid-September could serve as significant catalysts influencing XRP’s price. With improvements across the macroeconomic landscape, capital inflows, and regulatory expectations, XRP is poised for further upside potential.

For XRP holders, beyond monitoring price fluctuations, there are also opportunities to explore additional ways to generate returns on digital assets. EX DeFi Cloud Mining offers users an alternative way to participate in digital asset returns, helping them further grow their assets.

What are you waiting for? Visit https://exdefi.com/ today and put your digital assets to work generating passive income.

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.

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Bloom Energy, Illumina, Everpure Rise On S&P 500 Index Inclusion

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Bloom Energy, Illumina, Everpure Rise On S&P 500 Index Inclusion

Bloom Energy, Illumina and Everpure will join the S&P 500 index, S&P Dow Jones Indices announced late Friday. The three stocks rose in after-hours trading. Bloom Energy (BE), Illumina (ILMN) and Everpure (P) will be added to the benchmark index before the open on Monday, Sept. 21, as part of a quarterly rebalancing of S&P indexes. They’ll replace Molson Coors…

Copyright ©2026 Investor’s Business Daily, LLC. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

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ServiceNow Leads Five Stocks To Watch Near Buy Points

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ServiceNow Leads Five Stocks To Watch Near Buy Points

Despite surging oil prices and Treasury yields marking new highs, the major indexes largely weathered an up and down week. Meanwhile, several stocks showed bullish signs, including software giant ServiceNow (NOW). Digital bank Dave Inc. (DAVE), commodities trading platform Marex Group (MRX), senior living REIT Welltower (WELL) and cancer treatment developer Exelixis (EXEL) round out the list of stocks to…

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Solana Co-Founder Slams Robinhood Chain Fees, Calls Congestion Profits ‘Brain Dead'

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Solana Price Performance

Solana co-founder Anatoly Yakovenko has criticized Robinhood Chain fees, arguing that the brokerage profits from network congestion rather than charging users openly within its own app.

Robinhood Chain transaction fees now average roughly $0.40. Yakovenko says Solana handles the same work for a fraction of a cent.

Why Robinhood Chain Fees Keep Climbing

Robinhood Chain went live on mainnet on July 1, 2026. The network runs on Arbitrum technology, settles to Ethereum, and uses Ether (ETH) for gas.

Usage has climbed hard since. Robinhood Chain fees reached $4.22 million in one day against roughly 10.4 million transactions, data shows. That lands near $0.40 each.

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Median costs point the same way. Currently, the network ranks first among 27 chains at $0.24, ahead of every rival. Congestion sets that price, not a posted rate.

Growth explains part of the pressure. Grayscale recently named Robinhood Chain among the three leading venues for tokenized stock trading, alongside BNB Chain and Solana.

Meanwhile, Solana charges a base fee of 5,000 lamports per signature. Lamports are Solana’s smallest unit, and 1 SOL equals 1 billion lamports.

At the current Solana price near $102, that fee stays well under a cent. Solana (SOL) is down 1.64% on the day.

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Solana Price Performance
Solana Price Performance. Source: BeInCrypto Markets

Solana Co-Founder Points at the Arbitrum Revenue Share

Robinhood Chain fees also feed Arbitrum. The brokerage hands over 10% of net revenue under its licensing terms. Of that, 8% goes to the Arbitrum DAO treasury, and 2% funds the Developer Guild.

Those payments have already revived Arbitrum’s ARB token, which climbed 90% off its record low. Yakovenko argues the same slice would cover Solana fees four times over.

Not everyone reads Robinhood Chain fees that way. Gnosis co-founder Martin Köppelmann noted Robinhood earns money rather than giving the service away. He doubted the pitch would land.

Yakovenko replied that front ends typically charge 50 to 80 basis points. For example, Uniswap ranks among the busiest network apps, alongside Relay.

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Still, Robinhood Chain fees are only one strain. The chain also stalled block production briefly this week, and users paid $0.40 anyway.

The wider question is who ends up paying. Users cover the $0.40, Ethereum takes its settlement cost, and Robinhood keeps the rest.

The post Solana Co-Founder Slams Robinhood Chain Fees, Calls Congestion Profits ‘Brain Dead' appeared first on BeInCrypto.

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Dow Jones Futures: Nvidia, Micron, Sandisk Flash Buy Signals; Apple, Inflation Reports Ahead

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Dow Jones Futures: Nvidia, Micron, Sandisk Flash Buy Signals; Apple, Inflation Reports Ahead

Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. An Apple iPhone event and key inflation reports headline the coming week. The stock market had a mixed week, but showed promising action after a difficult start. The major indexes rebounded back above their 21-day moving averages. That’s despite surging oil prices and Treasury yields…

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Poland Rejects Crypto Bill Veto as Zondacrypto Scandal Expands

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Crypto Breaking News

Poland’s lawmakers have again fallen short of the supermajority required to overturn President Karol Nawrocki’s veto of a bill intended to tighten crypto oversight. On Friday, the Sejm voted 241-198 to override the veto, but with three abstentions the measure missed the 266 votes needed by 25—marking yet another failed push to set a national framework for applying the EU’s Markets in Crypto-Assets Regulation (MiCA).

The renewed vote comes as Poland grapples with fallout from the Zondacrypto scandal. The case has widened amid bankruptcy proceedings against Zondacrypto’s Estonian operator and references by Prime Minister Donald Tusk to testimony alleging improper attempts to influence political figures.

Key takeaways

  • The Sejm’s override attempt failed 25 votes short of the 266 needed for passage, leaving Nawrocki’s veto in place.
  • The bill would have assigned crypto market supervision to Poland’s Financial Supervision Authority (KNF) as MiCA applies across the EU.
  • KNF has said Poland still lacks a designated authority responsible for supervising cryptoassets, despite MiCA already taking effect in the EU.
  • Meanwhile, prosecutors are investigating alleged fraud and money laundering tied to Zondacrypto, with losses previously estimated at no less than 350 million PLN.
  • Zondacrypto’s operator, BB Trade Estonia, was declared bankrupt by an Estonian court, according to the public notice released in August.

A veto override misses the threshold again

Friday’s parliamentary vote was the latest attempt to advance Poland’s crypto regulatory plan after Nawrocki vetoed related legislation three times, arguing the rules would overregulate the industry. The president has said he supports regulating crypto but believes the bill’s approach goes too far, including concerns about compliance costs and the authorities’ ability to block websites.

In the Sejm’s vote, lawmakers backed the override 241-198, with three abstentions. The constitutional requirement of a three-fifths majority was therefore not met, preventing the bill from moving forward despite parliamentary support.

For market participants, the repeated vetoes underline a central uncertainty: while MiCA is the EU-wide backbone, domestic legislation is still needed to determine who will supervise crypto activity and enforce the rules in practice. Without that clarity, firms may face continued regulatory ambiguity around licensing, oversight procedures, and enforcement coordination.

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Poland still has no designated crypto supervisor under MiCA

At the heart of the dispute is how MiCA should be implemented in Poland. The vetoed legislation aimed to establish Poland’s national framework for applying MiCA, including placing oversight of the crypto market under the Polish Financial Supervision Authority (KNF).

KNF said Friday that Poland still lacks a designated authority responsible for supervising the cryptoasset market, despite MiCA already applying across the European Union. The statement is significant because MiCA’s effectiveness for businesses depends not only on EU-level rules but also on national enforcement structures and supervisory responsibilities.

Nawrocki’s position contrasts with the urgency emphasized by regulators and government stakeholders. While the president does not oppose crypto oversight outright, his vetoes repeatedly cite concerns that the proposed Polish framework would impose excessive burdens or grant powers he views as too broad.

Investors and crypto firms watching Poland should pay attention to how this supervisory gap is handled in the absence of an operational national regime. The longer Poland remains without a designated supervisor, the more likely it becomes that compliance and enforcement decisions could be delayed or fragmented compared with other EU member states that have already implemented their supervisory arrangements.

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Zondacrypto investigation expands as operator heads to bankruptcy

Friday’s parliamentary vote took place against the backdrop of a deepening criminal investigation linked to the failed crypto exchange Zondacrypto. Prime Minister Donald Tusk disclosed excerpts from what he described as testimony from a key witness, alleging payments and attempts to influence politicians connected to Poland’s previous government.

Tusk said the witness alleged a 2 million Polish zloty ($550,000) payment arrangement involving a foundation linked to former Justice Minister Zbigniew Ziobro. In separate testimony cited by Tusk, the witness alleged an unnamed person promised to secure a presidential pardon if the witness were convicted.

Polish prosecutors are investigating suspected fraud and money laundering connected to Zondacrypto. Earlier in the process, prosecutors merged the Zondacrypto case with a probe into the 2022 disappearance of Sylwester Suszek, founder of BitBay, which was later renamed Zondacrypto.

Prosecutors in April estimated that losses linked to Zondacrypto were no less than 350 million PLN ($95 million). Such figures are likely to keep pressure on policymakers to strengthen oversight and enforcement mechanisms—particularly around exchanges and custody-related risks.

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In parallel with the criminal investigations, the exchange’s operator, BB Trade Estonia, has been pushed toward formal insolvency. An Estonian court declared the company bankrupt in August, with the first creditors’ meeting scheduled for Sept. 17, according to a public notice.

For users and creditors, bankruptcy can shift priorities from tracing wrongdoing toward asset recovery and claims verification. For regulators and legislators, the Zondacrypto episode adds urgency to establishing clear oversight structures—especially if supervisory authorities are expected to monitor compliance risks that failed entities allegedly exploited.

Why the regulatory fight matters beyond one country

Poland’s standoff is not just a domestic political contest. It highlights a broader tension in the EU’s post-MiCA transition: even when the rulebook is defined at the European level, member states still control the speed and structure of enforcement through domestic legislation and supervisory mandates.

With KNF previously stating that a designated authority for supervising cryptoassets is still missing, the impact is practical. Firms aiming to comply with MiCA may find it difficult to map responsibilities when the supervisor’s role is uncertain, while regulators may face challenges coordinating enforcement without a clear institutional lead.

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The Zondacrypto case also raises the political salience of crypto oversight. As criminal investigations expand and insolvency proceedings develop, policymakers may come under increased pressure to align regulatory authority, investigative capacity, and compliance requirements—particularly for platforms operating at the center of investor funds and custody arrangements.

What readers should watch next is whether lawmakers attempt another override vote or if the government and regulators pursue an alternative path to assign supervisory responsibility. The key uncertainty remains who will ultimately supervise cryptoassets in Poland as MiCA obligations move from EU law into day-to-day enforcement.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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