Crypto World
Brock Pierce’s dark and disturbing friendship with Jeffrey Epstein
It’s 2010 and Jeffrey Epstein is having a crash out.
His reputation, already in tatters after his 2008 conviction for procuring minors for prostitution, is spiralling further out of control as outlets and reporters, including The Huffington Post, Julie K. Brown, and Wired, uncover more and more juicy details about his salacious lifestyle.
In an effort to halt the decline, Epstein seeks out help from Alfred Seckel, aka Al Seckel, a serial scammer and illusionist who’s been dating Ghislaine Maxwell’s sister, Isabel, for years.
Epstein tasks Seckel with what he presumes to be a relatively cheap and easy job: wipe the internet of his sins.
This proves to be a pipe dream. Whether due to Seckel’s own incompetence and greed or due to Epstein’s unrepairable reputation, a $25,000 job becomes a $45,000 job, with an added luxury conference — called The Mindshift Conference — hosted on Little Saint John’s and to be paid for by the Epstein Foundation.
And so begins the blossoming of a fruitful eight-year long friendship for Brock Pierce and Jeffrey Epstein.
Warning: this article contains descriptions of violence and sexual assault. We have also provided a zipped folder containing the majority of the files we found useful for this article out of the 1,816 results that appear for “Brock Pierce” in the newly released Epstein Files.
The Mindshift Conference
The Mindshift Conference, which featured Murray Gell-Mann, Frances Arnold, Reichart Von Wolfshield, Brock Pierce, and many others, came with a hefty $55,000 hotel expense bill, as well as costs for flying out speakers, and preparing Little Saint John’s.
It proved to be a spectacular failure for Epstein.
Indeed, an event Epstein initially hoped would rival TEDTalks was, according to Epstein himself, “the worst meeting (the Epstein Foundation) has ever had.”
Epstein, who was growing increasingly wary of Seckel’s motives, hated the conference so much that he sent an email from “Susan” to Seckel to complain — the email was filled with all of Epstein’s usual spelling and grammatical errors.

However, there was one important detail that would have far-reaching consequences buried in the details of this fake complaint. Epstein (as Susan) wrote, “reichart was interesting as was brock.”
After this, Epstein found himself interested in Bitcoin and cryptocurrency-at-large, concepts he previously suggested were only for criminals.
This heel-turn is namely due to a presentation by, and the oozing charisma of, Brock Pierce.
Seckel and Epstein soon had a total falling out, with Epstein telling Ghislaine Maxwell by late 2012 that Seckel is “a bad guy.”
It didn’t help that Seckel was involved with deceit involving an Isaac Newton portrait or that he attempted to sell Epstein a collection of falsified antiquarian books.
But the failed conference got Pierce’s foot in the door with a potential investor, and he didn’t let the opportunity pass. Pierce and Epstein met several times over the course of 2011 and by April, only three months after the conference, Pierce was asking Epstein for financial advice:

The pair continued to get closer and closer and by 2012, their relationship had evolved into something entirely different.

Read more: New Epstein files reveal contact with Bitcoin dev Andresen before CIA briefing
Girls (Russian and Ukrainian, to be exact)
A year after Pierce and Epstein met and four years since Epstein’s procurement of a minor for prostitution guilty plea, a distinct change occurs in the discussions between the two financiers: women came up a lot, often in disparaging or objectifying terms.
The first time Epstein sent women to Pierce, it included someone who Epstein referred to in later emails as “my little susie” or “sue” and takes place in March 2012, in Los Angeles.
Sue would play a major role in the relationship between Epstein and Pierce later.

In the first record that showed Epstein sending women to Pierce, he told Pierce to “leave your girlfriend home.” Pierce replied, “Will do. Broke up with GF last night so that won’t be a problem.”
A month later, in April 2012, Epstein told Pierce that “my new russian, is in la working she knows no one, if you could help her see some of I.a. .. I would appreicate it.”

Pierce failed. The Russian doesn’t meet with him, but after a strange back and forth, he had a concession: “I know a girl in NY you may like. How should I introduce you?”
Epstein responded, “details. ? she can come to meet when others are there.”

Only one month after sharing the information of the girl in New York, Pierce was given a new mission from Epstein when he told the financier and pedophile that he was visiting Moscow, Kiev, and Odessa: “Take photos and find me a present.”
Pierce responded with “Will do. :-).”

Only three days later, Pierce shared with Epstein dozens of images of a woman named Anastasia. He added at the bottom of the email, “Ukraine is now my favorite country.”

Read more: Former DCG advisor Larry Summers on list of Jeffrey Epstein’s ‘Harvard friends’
Business begins
Beginning in 2013, Pierce and Epstein often sought one another out for advice and also started to do business together.
In May of 2013, less than a year before its inevitable collapse, Pierce shared with Epstein that he was planning on purchasing the largest Bitcoin exchange in the world, MtGox.

Epstein, who was unfamiliar with the exchange, asked if it had been seized by the US government (it hadn’t). The purchase never occured, and in April of 2014, it was revealed that MtGox had lost the majority of its users’ money.
Pierce didn’t give up on acquiring MtGox, trying again after its collapse with an initiative he named Gox Rising.
Also in May of 2013, Epstein spoke to Bill Gross — the co-founder of the Pacific Investment Management Company (PIMCO), the world’s current largest ETF manager with $2 trillion AUM — about a Brock Pierce-related cryptocurrency concept.
Most likely, this was an early reference to Tether, which was only a year from its launch.

By 2014, Epstein was partnering with Pierce on investments and assisting him with his business affairs.
For example, Epstein looked over a Noble Bank/Markets Nasdaq agreement — the Puerto Rico-based international financial entity started by Pierce and John Betts that briefly served as the main “bank” for the stablecoin tether.

The most important partnership between the two came shortly thereafter: a $3 million investment in Coinbase through a fund started by Bradford and Bart Stephens.

Perhaps most embarrassing about the Epstein Coinbase investment is that they knew who had put in the money to purchase shares.
As Pierce rushed to get the deal closed, he shared one awkward, hurried email: “I need permission to let the founder know who you are.”

The email seemed to be an assurance that no one outside of Pierce, Epstein, and the founders of Coinbase would ever be aware that Epstein had personally been involved, his identity hidden behind a faceless fund.
Likely with this in mind, Coinbase accepted the $3 million investment from Epstein.
Attempted corporate espionage, legal help, and PIs
It was clear by 2014 that Pierce and Epstein had become far more than simple business partners and acquaintances.
They shared women and investments, and spent time together in Los Angeles, New York, and Little Saint James.
Their back-and-forths were filled with nonchalant references to questionable and seemingly nefarious behavior.
In June of 2014, Epstein innocuously asked Pierce “do you know the Winklevoss’s?”
Pierce responded he does, to which, out of nowhere, Epstein responded that he was going to “send Svetlana to them to get a download of the space, I prefer not to go through the Silicon Valley gossip mafia.”

For what it’s worth, the Svetlana that Epstein is sending to the Winklevoss twins was most likely Svetlana Pozhidaeva, a Russian national who refused to speak about her relationship with Jeffrey Epstein.
According to the New Zealand Herald, Pozhidaeva is the daughter of a prestigious Russian family that lived in an apartment block associated with the KGB.
Meanwhile, strange continuations of unrecorded conversations were splattered throughout their emails. In 2015, Pierce asked Epstein if he was familiar with Jeff Herman — a lawyer who represented several victims of Epstein.
Epstein said, “Very bad guy, was suspended from practice.”
“Do a Google search on me,” Pierce insisted. “He’s suing four of my friends… Any dirt you have could prove helpful.”
A few months later, in a cryptic, short email from Epstein to Pierce, he simply said, “What was the name of your favorite investigator? I forgot.”
Pierce didn’t reply through email.
Lastly, and years later, Pierce let Epstein know that he failed to pay his taxes for five years and requested legal help.
Epstein fell over himself to assist Pierce, advising him to reach out to Alan Dlugash and insisted that Pierce not speak to any accountants and let his lawyers take care of the problems for him.
The tax problems appear to quickly disappear.

Read more: Tether founder Brock Pierce defaults, loses hotel, sues partner
My Little Susie and polygamy
One of the strangest episodes dotting the Pierce-related Epstein Files was the multi-year love story between Pierce and a woman who worked for Epstein named Sue.
As pointed out earlier, the first recorded example of Pierce and Sue spending time together is in Los Angeles in 2012. But Sue continued to come up, all the way through 2018.
In 2015, Epstein described Pierce to Joi Ito as “little Sue’s boyfriend.”

In fact, it appears that, for some reason, Epstein has a distinct interest in Pierce’s relationship with Sue. He repeatedly asks Pierce if he’s faithful to or cheating on Sue and sends him reminders about important dates related to her.

While they stopped mentioning her for several years, she popped up one final time, in what was arguably the most obvious example of law breaking, deception, and odious intentions: Pierce wanted to marry Sue while already being married, he wanted to be a polygamist.

Introducing Epstein to Steve Bannon
What perhaps had the clearest real world consequences in regard to the Pierce-Epstein friendship was that Pierce introduced Epstein to political strategist and chaos agent Steve Bannon in 2016/2017.

While both Pierce and Epstein almost always referred to Bannon as “Steve,” the timeline that Pierce stated lined up thoroughly with his relationship to Bannon.
When Bannon worked at Goldman Sachs they took a majority share in Pierce’s company called IGE and installed Bannon as the new head of the company (the business model they incorporated was basically paying Chinese gamers less-than-living wages to find loot in World of Warcraft and upsell it to Westerners).
Within the short amount of time that Bannon and Epstein were friends, they spent a lot of time together and plotted all kinds of fantastical ploys and plots, from new cryptocurrencies to disrupting the dollar hegemony.
It’s unclear who influenced who more.

Coinbase cashout
Just over a year before Epstein’s final arrest, in 2018, Bradford Stephens reached out to Epstein’s lawyer, Darren Indyke, in an attempt to purchase back the Coinbase shares that Epstein still controlled.
The transaction didn’t go as smoothly as Stephens hoped, as he started his offer at only $15 million — a $12 million profit on Epstein’s initial investment.

Epstein refused. He asked for $11 million for half his position. And then more. And more. Eventually, Stephens handed over $15 million for half of Epstein’s position, the other half Epstein held on to, planning to let it ride until an eventual IPO.
If the Epstein estate did hold its Coinbase position through until the IPO, it’s possible that his initial $3 million investment, thanks to Brock Pierce, netted his estate over $100 million.

A known pedophile’s great friend
Pierce, unlike many other financiers, cultural elites, and venture capitalists, met Epstein after his first conviction and remained a close confidant up to the second arrest.
Pierce both profited off his friendship with Epstein and, essentially, made Epstein tens of millions of dollars.
They sent emails often, cared about one another, worried about each other, and shared legal, accounting, and financial advice regularly.
There are several emails in which Pierce wishes Epstein a happy birthday, a happy new year, and even one where he tells him “love you” (while inviting him to a “boat in Antigua… full of Ukraine’s finest”).

Pierce has done his best to distance himself from his past, from working at Digital Entertainment Network in the early aughts, to moving to Spain with infamous pedophile Marc Collins-Rector, to cozying up to chaos agent Steve Bannon.
But it’s impossible for him to distance himself from Jeffrey Epstein. Brock Pierce and Jeffrey Epstein’s legacies will be tied together forever.
We reached out to Brock Pierce for comment and will update this piece should we hear back.
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Crypto World
ME Token Slumps After Magic Eden Announces Buybacks, Staking Rewards

The former NFT marketplace said it will allocate revenue to the ME ecosystem, including USDC rewards paid out to stakers.
Crypto World
Solana (SOL) Plunges Below $100, Bitcoin (BTC) Recovers From 15-Month Low: Market Watch
Meanwhile, HASH and HYPE have declined the most over the past 24 hours after charting impressive gains lately.
Bitcoin’s adverse price actions as of late worsened yesterday when the asset tumbled to its lowest positions since early November 2024 at $73,000 before recovering by a few grand.
Most altcoins followed suit with enhanced volatility, but some, such as SOL, HYPE, and CC, have been hit harder than others.
BTC’s Latest Rollercoaster
It was just a week ago when the primary cryptocurrency challenged the $90,000 resistance ahead of the first FOMC meeting for the year. After it became official that the Fed won’t cut the rates again, BTC remained sluggish at first but started to decline in the following hours.
The escalating tension in the Middle East was also blamed for another crash that took place on Thursday when bitcoin plunged to $81,000. It bounced off to $84,000 on Friday but tumbled once again on Saturday, this time to under $75,000. Another recovery attempt followed on Monday, only to be rejected at $79,000.
Tuesday brought the latest crash, this time to a 15-month low of $73,000. It has rebounded since then to just over $76,000, but it’s still 3% down on the day. Moreover, it has lost 14% of its value weekly and a whopping 18% monthly.
Its market capitalization has plummeted to $1.525 trillion on CG, while its dominance over the alts has declined to 57.3%.
SOL Below $100
Most larger-cap altcoins have felt the consequences of the violent market crash lately. Ethereum went from over $3,000 to $2,100 in the span of a week, before bouncing to $2,280 as of now. BNB is down to $760, while SOL has plummeted to under $100 after a 7% daily decline.
Even the recent high-flyer HYPE has retraced hard daily. The token is down by 11% to $33. CC and ZEC are also deep in the red, while XMR has gained the most from the larger caps.
The cumulative market cap of all crypto assets has seen more than $70 billion erased in a day and is down to $2.65 trillion on CG.
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Crypto World
Pumpfun Unveils Investment Arm and $3 Million Hackathon

PUMP rallied as much as 10% but erased its gains as crypto markets dipped.
Crypto World
Spot Bitcoin ETF AUM Hits Lowest Level Since April 2025
Assets in spot Bitcoin (BTC) ETFs slipped below $100 billion on Tuesday following a fresh $272 million in outflows.
According to data from SoSoValue, the move marked the first time spot Bitcoin ETF assets under management have fallen below that level since April 2025, after peaking at about $168 billion in October
The drop came amid a broader crypto market sell-off, with Bitcoin sliding below $74,000 on Tuesday. The global cryptocurrency market capitalization fell from $3.11 trillion to $2.64 trillion over the past week, according to CoinGecko.
Altcoin funds secure modest inflows
The latest outflows from spot Bitcoin ETFs followed a brief rebound in flows on Monday, when the products attracted $562 million in net inflows.
Still, Bitcoin funds resumed losses on Tuesday, pushing year-to-date outflows to almost $1.3 billion, coming in line with ongoing market volatility.

By contrast, ETFs tracking altcoins such as Ether (ETH), XRP (XRP) and Solana (SOL) recorded modest inflows of $14 million, $19.6 million and $1.2 million, respectively.
Is institutional adoption moving beyond ETFs?
The ongoing sell-off in Bitcoin ETFs comes as BTC trades below the ETF creation cost basis of $84,000, suggesting new ETF shares are being issued at a loss and placing pressure on fund flows.
Market observers say that the slump is unlikely to trigger further mass sell-offs in ETFs.
“My guess is vast majority of assets in spot BTC ETFs stay put regardless,” ETF analyst Nate Geraci wrote on X on Monday.

Thomas Restout, CEO of institutional liquidity provider B2C2, echoed the sentiment, noting that institutional ETF investors are generally resilient. Still, he hinted that a shift toward onchain trading may be underway.
Related: VistaShares launches Treasury ETF with options-based Bitcoin exposure
“The benefit of institutions coming in and buying ETFs is they’re far more resilient. They will sit on their views and positions for longer,” Restout said in a Rulematch Spot On podcast on Monday.
“I think the next level of transformation is institutions actually trading crypto, rather than just using securitized ETFs. We’re expecting the next wave of institutions to be the ones trading the underlying assets directly,” he noted.
Magazine: DAT panic dumps 73,000 ETH, India’s crypto tax stays: Asia Express
Crypto World
Colosseum Launches AI Agent Hackathon on Solana With $100,000 Prize Pool
TLDR:
- Colosseum’s AI Agent Hackathon runs February 2-12, 2026, offering over $100,000 in USDC prizes to winners.
- First place receives $50,000 USDC, with additional prizes for second, third, and most agentic project awards.
- Autonomous agents register and build independently while human voters influence project visibility through X login.
- Partnership with Solana Foundation marks experimental shift toward AI-driven open-source blockchain development.
Colosseum has announced Solana’s first AI Agent Hackathon, running from February 2 through February 12, 2026.
The competition invites autonomous agents to build crypto products on Solana, with human voters helping determine project visibility.
Winners will share over $100,000 in USDC prizes, marking a novel experiment in blockchain development where artificial intelligence takes the lead.
Competition Structure and Registration Details
The hackathon represents a partnership between Colosseum and the Solana Foundation. Agents can register through the official platform at colosseum.com/agent-hackathon.
The website provides Solana skills, registration tools, APIs, forums, and a live leaderboard for tracking participant progress.
OpenClaw Agents have immediate access to the competition framework. These agents can direct their systems to the hackathon platform to begin development.
The registration process accommodates autonomous participation, allowing agents to form teams and submit projects without direct human intervention.
Human participants play a crucial role in the voting mechanism. Voters must sign in with their X accounts to upvote preferred projects.
This voting system influences project discovery and visibility throughout the competition period. Additionally, humans can claim agents to receive potential prizes.
Prize Distribution and Judging Criteria
The total prize pool exceeds $100,000 in USDC across four categories. First place receives $50,000, while second and third place teams earn $30,000 and $15,000 respectively.
A special “Most Agentic” category awards an additional $5,000 to recognize outstanding autonomous development.
Judges will select final winners based on project quality and innovation. Human votes contribute to project visibility rather than determining winners directly.
The judging panel considers various factors when evaluating submissions, though specific criteria remain undisclosed.
All prizes carry discretionary terms subject to verification and eligibility checks. Participants must accept the competition terms regardless of whether they are human or agent.
Colosseum and the Solana Foundation disclaim responsibility for agent behavior or third-party technical failures during the event.
Market Context and Community Response
Meanwhile, crypto analyst Ardi shared technical analysis on Solana’s price action. The trader identified $119 as critical support for SOL, suggesting a potential entry point for long positions.
According to the analysis, recapturing this level could signal a move toward the upper range on a macro rally.
Ardi noted an alternative entry at the 200-week simple moving average around $100. This level represents macro support established in April 2025.
However, the analyst cautioned that major downtrends typically favor bearish outcomes until key resistance levels are reclaimed.
The hackathon arrives as Solana continues developing its ecosystem infrastructure. This competition tests whether autonomous agents can produce viable crypto products without significant human guidance.
Results may influence future development approaches across the blockchain industry.
Crypto World
Bitwise to Acquire Chorus One as Crypto Staking Demand Accelerates
Bitwise Asset Management is reportedly acquiring institutional staking provider Chorus One, extending its push into cryptocurrency yield services.
The acquisition adds a major staking operation to the crypto asset manager’s platform as demand for onchain yield products increases among both retail and institutional investors.
Chorus One provides staking services for decentralized networks and currently has $2.2 billion in assets staked, according to its website.
The financial terms of the deal were not disclosed, Bloomberg reported on Wednesday, citing statements from both companies.
Cointelegraph reached out to Bitwise and Chorus One for comment, but had not received a response by publication.
Related: 21Shares launches first Jito staked Solana ETP in Europe
Ethereum staking demand surges as validator queue swells
Ethereum validator queue data shows a surge in demand to stake Ether (ETH). The entry queue has swelled to more than 4 million ETH, translating into a wait time of over 70 days.
Almost 37 million ETH, or just over 30% of total supply, is now staked, with close to 1 million active validators securing the network. This suggests that more holders are choosing to lock up ETH despite long delays.
The rising interest in staking has pushed other major asset managers to integrate yield into regulated crypto products. Morgan Stanley filed to launch a spot Ether exchange-traded fund (ETF) that would stake part of its holdings to generate passive returns. Grayscale is also preparing to distribute staking rewards from its Ethereum Trust ETF, the first payout tied to onchain staking by a US-listed spot crypto exchange-traded product.
Related: Crypto VC activity hits $4.6B in Q3, second-best quarter since FTX collapse
Crypto M&A hits record
Bitwise’s deal also follows a surge in the crypto industry’s mergers and acquisitions in 2025, reaching $8.6 billion across a record 133 transactions by November, surpassing the combined total of the previous four years.
Coinbase led the wave, closing six acquisitions, including the $2.9 billion purchase of crypto derivatives exchange Deribit.
Magazine: Bitget’s Gracy Chen is looking for ‘entrepreneurs, not wantrepreneurs’
Crypto World
Nevada Moves to Block Coinbase Prediction Markets After Polymarket Ban
Nevada regulators have taken fresh legal action against crypto exchange Coinbase, seeking to halt the company’s prediction market offerings in the state as tensions grow between federal derivatives oversight and state gambling laws.
Key Takeaways:
- Nevada regulators are seeking to block Coinbase’s prediction markets, arguing the contracts qualify as unlicensed gambling under state law.
- The dispute centers on whether event-based contracts fall under federal CFTC oversight or state gaming authority.
- The case is part of a wider legal clash as multiple US states challenge prediction market platforms.
The Nevada Gaming Control Board on Monday filed a civil enforcement complaint against Coinbase Financial Markets in Carson City, requesting a permanent injunction, declaratory relief, and an emergency temporary restraining order.
Regulators argue the platform is offering event-based contracts tied to sports and elections without the state gaming licenses required under Nevada law.
Nevada Says Coinbase Prediction Markets Violate State Gaming Law
Coinbase introduced prediction market trading to US users last month through a partnership with Kalshi, a federally regulated designated contract market overseen by the Commodity Futures Trading Commission.
Nevada officials, however, say contracts linked to sporting outcomes and elections constitute wagering activity and therefore fall under state gaming rules rather than federal derivatives jurisdiction.
The board also alleges the Coinbase app permits users aged 18 and older to trade event contracts, below Nevada’s legal gambling age of 21.
In court filings, regulators said the company’s continued operation creates “serious, ongoing, irreparable harm” and gives Coinbase an unfair advantage over licensed sportsbooks that must meet strict compliance, tax, and physical-location requirements.
The dispute arrives amid a broader legal clash between Coinbase and several US states.
The exchange recently filed federal lawsuits against gaming regulators in Connecticut, Michigan, and Illinois, arguing that prediction markets fall exclusively under CFTC authority and that state enforcement efforts unlawfully restrict innovation.
Those states had issued cease-and-desist notices accusing prediction platforms of unlicensed sports wagering.
Nevada officials maintain their responsibility is to protect consumers and preserve the integrity of the state’s gaming industry.
Board chairman Mike Dreitzer said enforcement action was necessary to uphold those obligations as new digital betting-style products enter the market.
Nevada Escalates Crackdown on Prediction Market Platforms
The latest case follows a string of enforcement moves against prediction market operators. Nevada previously pursued action against Kalshi over sports-related contracts, triggering a legal battle that remains under appeal.
More recently, a state court granted a temporary restraining order blocking Polymarket from offering event contracts to Nevada residents for two weeks, signaling judicial willingness to side with state regulators despite federal derivatives oversight claims.
Last month, Kalshi opened a new office in Washington, D.C., as it ramps up efforts to shape federal and state policy amid growing scrutiny of its products across the United States.
The company also hired veteran political strategist John Bivona as its first head of federal government relations.
Meanwhile, a new legislation to limit the interactions between government officials and the prediction markets is being supported by more than 30 Democrats in the US House of Representatives, including former Speaker Nancy Pelosi.
The lure behind new restrictions is a controversial Polymarket bet, which started as a bet of $32,000 but eventually became more than $400,000 shortly before the unexpected detention of Venezuelan President Nicolás Maduro.
The post Nevada Moves to Block Coinbase Prediction Markets After Polymarket Ban appeared first on Cryptonews.
Crypto World
Solana price falls under $100: Dead-cat bounce coming?
Solana price slid deeper into the red on Feb.4, extending its recent downtrend as sellers continued to press the market.
Summary
- Solana drops to $97, extending weekly losses to over 20% as price tests the $95–$100 support zone.
- Despite price weakness, network usage and ETF inflows suggest longer-term interest remains intact.
- Oversold conditions could lead to a short-term relief bounce.
At press time, SOL was trading near $97, down 6.1% over the past 24 hours. The move leaves Solana sitting near the lower end of its seven-day range between $96 and $127.
Solana (SOL) has dropped 23% over the last week and 31% over the last month. The token is now back to a range that many traders consider critical, having retraced roughly 66% from its peak of $293 in January 2025.
Activity has increased despite the decline. As the price tests support, Solana’s 24-hour spot trading volume increased 32% to $6.55 billion, suggesting increased participation.
Derivatives show a similar trend. CoinGlass data reports futures volume jumping 40% to $17.17 billion, while open interest edged 0.65% higher to $6.48 billion, suggesting traders are adding exposure rather than fully stepping aside.
Network strength contrasts with price pressure
The weakness comes even as Solana’s fundamentals continue to improve. As previously reported by crypto.news, the network processed more than 2.34 billion transactions in January, a 33% increase from the past month and more than Ethereum, Base, and BNB Chain combined.
Institutional interest has also shown signs of growth. While Bitcoin and Ethereum exchange-traded products recorded net outflows in January, U.S. spot Solana ETFs attracted $104 million in inflows, pointing to rising interest from traditional investors during the pullback.
Still, price expectations have been adjusted by some analysts. Standard Chartered recently lowered its 2026 Solana price target to $250 from $310, citing near-term market pressure.
At the same time, the bank raised its longer-term outlook, forecasting SOL at $400 by the end of 2027, $700 by end-2028, $1,200 by end-2029, and $2,000 by 2030. The bank’s analysts argue Solana is positioned to benefit from growth in stablecoin usage and micropayments as it moves beyond a meme-driven phase.
Solana price technical analysis
From a chart perspective, Solana continues to trade in a clear bearish structure. The daily timeframe shows a consistent pattern of lower highs and lower lows, confirming that sellers still control momentum. The earlier breakdown below the $115–$120 consolidation zone has turned that area into resistance.

Price remains well below the declining daily moving average, now near $121, and repeated attempts to reclaim it have failed. This reinforces the idea that recent rebounds have been corrective rather than trend-changing.
Volatility has expanded to the downside. Strong selling pressure is evident as SOL is trading below the lower Bollinger Band. Although this often puts the market in short-term oversold territory, the absence of a significant reversal indicates that the downside momentum has not yet been completely exhausted.
That view is echoed by momentum indicators. The relative strength index is deep in oversold territory, at 26–28. The likelihood of an instant reversal is low because there isn’t any obvious bullish divergence at this point. In strong downtrends, RSI can remain oversold for extended periods.
The $100 level stands out as the most important near-term line. A sustained close below it would likely expose the $95–$93 zone, followed by a broader support area near $85–$90 if selling intensifies.
On the upside, any rebound is likely to face resistance near $120–$122, where the declining moving average and prior support converge.
Crypto World
Bitmine Chair Tom Lee Shrugs Off ETH Treasury Losses, Asks If ETFs Should Face Same Scrutiny
Bitmine Immersion Technologies chairman Tom Lee pushed back on criticism of the company’s Ethereum treasury strategy on Tuesday, arguing that paper losses come with the territory when a public vehicle is built to mirror the price of Ethereum through a full market cycle.
Lee’s comments were made in response to a social media post that accused Bitmine of sitting on a steep unrealized loss and setting up future selling pressure for Ether.
“BMNR is now sitting on a -$6.6 Billion dollar unrealized LOSS on the ETH they’ve accumulated. This is ETH in the future that will be sold, putting a future ceiling on ETH prices. Tom Lee was the final exit liquidity for OG ETH whales to get out of their worthless token,” the tweet read.
Lee Defends ETH Treasury As Long-Term Tracking Strategy
In response, Lee said the company’s goal is to track Ether’s price closely and aim to outperform over time through its approach, rather than trying to smooth out drawdowns.
He said unrealized losses show up naturally during broad crypto pullbacks, and he questioned why critics treat that as uniquely problematic when index products also swing lower during market declines.
Ether has slid sharply in the latest leg of the downturn, and Bitmine’s growing treasury has amplified the mark-to-market moves that come with a concentrated position.
Bitmine itself has framed the strategy as a long-duration bet on Ethereum’s role in finance and capital markets, pairing accumulation with staking infrastructure.
Bitmine’s ETH Holdings Climb To 4.24M As Paper Losses Pass $6B
In a recent company release, Bitmine said it held 4.24M ETH as of Jan. 25 and said it acquired 40,302 ETH over the prior week. Meanwhile, unrealized losses topped $6B.
The same statement pointed to a shifting political and institutional backdrop. It quoted President Donald Trump saying that Congress is working on crypto market structure legislation that he hopes to sign soon, and it positioned tokenization as a theme gaining traction among large financial players.
Lee has also tied the sell-off to market structure stress, pointing to the aftershocks of a record $19B liquidation event in October and to the way flows into metals can drain risk appetite from crypto during fragile periods.
The episode has reopened a wider debate around corporate-style crypto treasuries, especially those using Ether rather than Bitcoin.
Lee appears to be treating the recent drawdown as part of the cycle, not proof that the strategy is broken, and he has kept his longer-term pitch intact that Ethereum sits at the centre of where finance is heading.
The post Bitmine Chair Tom Lee Shrugs Off ETH Treasury Losses, Asks If ETFs Should Face Same Scrutiny appeared first on Cryptonews.
Crypto World
Is Tether IPO Just A Pipe Dream?
Tether, issuer of the $185 billion USDT stablecoin, has dramatically scaled back its private fundraising ambitions.
It raises doubts about a potential IPO once fueled by speculation from crypto insiders like BitMEX co-founder Arthur Hayes.
Sponsored
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Investor Pushback Forces Tether to Reassess Funding Ambitions
Tether was initially exploring a $15–20 billion raise at a $500 billion valuation. The figure would have placed the stablecoin issuer among the world’s most valuable private firms.
However, according to the Financial Times, Tether is now considering as little as $5 billion, or potentially no raise at all.
The latest pullback follows a year of heightened market chatter. In September 2025, Hayes reignited Tether IPO speculation, suggesting a public listing for the stablecoin issuer could overshadow Circle’s successful USDC debut.
At the time, Tether’s valuation was pegged at over $500 billion. This positioned it alongside tech and finance giants such as SpaceX, OpenAI, and ByteDance.
Hayes framed the potential listing as a strategic move, with Tether’s USDT circulation of $185 billion and its revenue-generating structure giving it a competitive edge over Circle.
Yet investor sentiment has tempered the hype. Backers reportedly balked at the lofty $500 billion valuation, citing:
- Regulatory scrutiny
- Reserve transparency concerns, and
- Past allegations of illicit use.
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Tether Stays Profitable Amid Market Headwinds, Keeping IPO Optional
A recent S&P Global Ratings downgrade highlighted Tether’s exposure to riskier assets, such as Bitcoin and gold, further heightening caution.
“S&P said there had been an increase in high-risk assets in Tether’s reserves over the past year, including bitcoin, gold, secured loans, corporate bonds, and other investments, all with limited disclosures and subject to credit, market, interest-rate, and foreign-exchange risks. Tether continues to provide limited information on the creditworthiness of its custodians, counterparties, or bank account providers,” Reuters reported, citing S&P.
The broader crypto market’s decline over the past six months further dampened enthusiasm for sky-high valuations, even for the sector’s most profitable player.
Ardoino, however, remains confident in Tether’s fundamentals. He described the $15–20 billion figure as a misconception. According to Ardoino, the company would be “very happy” raising zero capital.
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“That number is not our goal. It’s our maximum, we were ready to sell…If we were selling zero, we would be very happy as well,” read an excerpt in the report, citing Ardoino.
Tether reported $10 billion in profits for 2025, down about 23% from the prior year due to Bitcoin price declines but offset by strong returns on gold holdings.
With profitability firmly intact, Tether has little operational need for additional funds. This suggests the fundraising drive is as much about credibility and strategic partnerships as it is about cash.
Tether IPO: Just a Pipe Dream?
The retreat also reshapes expectations for the Tether IPO. While a public listing is no longer imminent, regulatory tailwinds and strategic initiatives keep the option alive.
US stablecoin legislation under President Trump, along with Tether’s new US-compliant USAT token, could provide a pathway for legitimacy in the domestic market.
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Therefore, groundwork could be laid for a potential 2026 IPO if market conditions improve, though the valuation may need to be recalibrated.
Still, Tether’s cautious pivot carries a broader signal for the crypto ecosystem. As the market’s de facto reserve currency with massive Treasury and gold holdings, the company’s retreat highlights a growing emphasis on profitability and transparency over hype.
For other high-valuation crypto firms eyeing public markets, Tether’s experience may serve as a blueprint: sustainable growth and strong fundamentals are increasingly critical to investor confidence, even for marquee names in the industry.
It is also worth noting that Tether CEO Paolo Arodino once articulated that the firm does not need to go public. However, he did not rule it out either.
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