Crypto World
Epstein Files Reveal Crypto Talks With SEC’s Gary Gensler
The Epstein files show he discussed meeting Gary Gensler to talk about digital currencies, offering fresh insight into the financier’s efforts to engage with early crypto leaders and policy figures.
Emails from May 2018 show Epstein telling former Treasury Secretary Lawrence Summers that “Gary Gensler [is] coming earlier… wants to talk digital currencies.” Summers replied that he knew Gensler from government service and described him as “pretty smart.”
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The exchange suggests Epstein expected Gensler to participate in discussions involving cryptocurrency.
Epstein Files Reveal More Crypto Stories
Separately, internal messages show Epstein referencing crypto-related meetings connected to MIT Media Lab leadership.
One message asked whether others “would be interested in Gary Gensler,” indicating Gensler’s involvement in crypto-focused academic or policy circles at the time.
In another message, Epstein wrote that he would be “with Gary Gensler on crypto tomorrow,” although the files do not independently confirm whether a direct meeting took place.
At the time, Gensler was a professor at MIT, where he taught blockchain and digital currencies.
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He later became the SEC from 2021 to 2025, where he oversaw the most aggressive regulatory crackdown on crypto in US history.
The Gensler references appear alongside broader evidence of Epstein’s deep involvement in early cryptocurrency development and investment.
DOJ documents show Epstein donated hundreds of thousands of dollars to MIT’s Media Lab. This included funding the Digital Currency Initiative, which supported Bitcoin Core developers after the Bitcoin Foundation collapsed.
Developers funded through the initiative included key maintainers of Bitcoin’s open-source protocol.
In addition, financial records confirm Epstein invested $3 million in crypto exchange Coinbase in 2014.
He also invested in Bitcoin infrastructure firm Blockstream and corresponded with early Bitcoin developers, researchers, and venture capitalists.
Furthermore, emails show Epstein proposing a Sharia-compliant digital currency modeled on Bitcoin in 2016.
However, the files do not show any financial relationship between Epstein and Gensler. Nor do they confirm whether the two men met directly or collaborated on any crypto-related project.
Still, the documents highlight Epstein’s sustained efforts to engage with influential figures in crypto, academia, and financial policy.
Polygon has posted higher daily transaction fees than Ethereum over the past three days, with an analyst pointing to robust user activity on prediction market Polymarket.
According to the latest data from Token Terminal, Polygon raked in $407,100 worth of transaction fees on Friday, compared to Ethereum’s $211,700, with the data indicating this is the first time Polygon has ever flipped Ethereum in daily transaction fees.
The gap has since narrowed, with daily transaction fees on Polygon at $303,000 on Saturday, while Ethereum saw about $285,000.
Polygon is home to Polymarket, one of the most prominent prediction markets to emerge from the blockchain sector that launched in 2020.
In an X post on Monday, Matthias Seidl, the co-founder of Ethereum analytics platform growthepie, highlighted Polygon’s recent activity growth, saying that it has been “fully driven by Polymarket.”
Seidl shared a chart showing that Polymarket had accounted for just over $1 million worth of fees on Polygon over the past seven days, with the next highest app on the L2 being Origin World, which accounted for around $130,000.
Polygon has also highlighted surging activity on Polymarket. In an X post on Saturday, the team noted that over $15 million worth of wagers were placed on a single Oscars market category alone, adding that “Polygon is the chain underneath it” all.
Polygon says there’s also a strong network of trustless agents being deployed on the L2 to “tap opportunities” on the prediction market.
Prediction markets have been booming in popularity since the last US election, and the rapid adoption has seen several crypto firms launching their own offerings.
Related: ETH chart pattern projects rally to $2.5K if key conditions are met: Data
Elsewhere, some have also pointed to growing stablecoin usage on the L2, particularly with Circle’s USDC (USDC). In an X post on Sunday, Polygon data analyst petertherock said that the network had notched a new weekly high of 28 million USDC transactions.
Polymarket uses Polygon-based USDC for trading on its platform.
Magazine: Coinbase misses Q4 earnings, Ethereum eyes ‘V-shaped recovery’: Hodler’s Digest, Feb. 8 – 14
TLDR:
- TRM Labs found that 48% of newly launched darknet markets in 2025 accept only Monero as payment.
- Nearly 14–15% of reachable Monero network peers displayed non-standard peer-to-peer protocol behavior.
- Ransomware actors prefer XMR, yet most real-world ransom payments are still completed in Bitcoin.
- Monero’s on-chain cryptography remains intact, but network-layer dynamics may affect privacy assumptions.
Monero continues to maintain stable on-chain transaction activity despite growing regulatory pressure. TRM Labs released new research showing that XMR usage has remained above pre-2022 levels.
Even after major exchanges removed the privacy coin, demand has not dropped. The findings also reveal unusual peer-to-peer network behavior affecting roughly 14 to 15 percent of observable nodes.
Darknet Markets and Ransomware Drive Persistent Demand
Monero’s appeal in high-risk environments has grown considerably over the past few years. Nearly 48 percent of newly launched darknet markets in 2025 support XMR exclusively.
That figure marks a sharp rise compared to earlier years when Bitcoin remained the dominant option. Western-facing markets are leading this shift, partly due to improved tracing capabilities on transparent blockchains.
Ransomware groups still express a clear preference for receiving payments in Monero. However, most actual ransom settlements continue to occur in Bitcoin due to liquidity advantages.
Bitcoin remains easier to acquire and convert at scale, even though it is more traceable. That gap between preference and practice reflects a real tension between privacy and usability.
TRM Labs addressed this directly, stating, “Most ransomware payments still occur in BTC—liquidity matters.” The firm also noted that “48% of new darknet markets in 2025 are XMR-only,” indicating a measurable structural shift in how high-risk actors choose to operate.
Monero’s thinner market structure also contributes to higher price volatility. Over the past 30 days, XMR showed realized volatility roughly 2.5 times that of Bitcoin.
Despite fewer on-ramps and reduced exchange support, on-chain Monero usage has not contracted meaningfully. This pattern points to a user base that actively seeks privacy rather than casual retail participation.
Users accept higher friction and fewer options to preserve anonymity. That behavior keeps Monero relevant even as other assets become more transparent.
Network-Layer Behavior Introduces New Investigative Considerations
TRM Labs also collaborated with academic researchers to study Monero’s peer-to-peer network behavior. Around 14 to 15 percent of reachable peers showed non-standard behavior compared to protocol expectations.
These deviations included irregular handshake patterns, unusual message timing, and atypical peer list composition. The behavior persisted across multiple observation periods, suggesting systematic rather than random causes.
Infrastructure concentration emerged as a recurring pattern within the non-standard peer data. A small number of hosting environments accounted for a disproportionately large share of these peers.
TRM Labs noted that “14–15% of Monero peers show non-standard network behavior,” adding that “network-layer dynamics can influence real-world privacy assumptions.” That visibility can matter even when cryptographic protections remain fully intact.
TRM emphasized that these findings do not reflect a failure of Monero’s cryptography. The on-chain privacy features, including ring signatures and stealth addresses, remain technically sound.
As TRM Labs put it, “Monero’s cryptography remains strong,” yet the firm cautioned that peer-to-peer behavior can introduce structural visibility affecting theoretical anonymity models. Real-world conditions can introduce observable structure that affects certain investigative threat models.
The research does not assign intent or identify specific operators behind the non-standard nodes. It instead describes behavioral patterns that deviate from standard client implementations.
Those patterns, combined with growing XMR-only market adoption, give investigators new structural data points to consider. Monero remains a distinct challenge, but its network layer now draws greater scrutiny.
XRP price shows mild signs of recovery even as Standard Chartered slashes its 2026 price target to $2.80, reshaping short-term expectations.
Summary
- Standard Chartered lowered its 2026 XRP price prediction from $8 to $2.80, citing macro and liquidity headwinds.
- XRP bounced from $1.23 but remains below its 20-day moving average with RSI near 42.
- A move above $1.75 improves recovery odds, while a break under $1.23 risks a drop toward $1.00.
XRP was trading around $1.48 at press time, up 1.5% in the last 24 hours. Earlier this month, the token briefly dipped toward $1.16 during the broader crypto selloff before staging a modest recovery.
In recent sessions, it has slightly outperformed Bitcoin and Ethereum, yet the bigger picture is still bleak. XRP (XRP) is still down roughly 30% over the past month and about 45% over the last year.
The rebound comes as sentiment across the sector remains fragile. Nearly $2 trillion in crypto market value has evaporated since the October crash, and liquidity conditions are still tight amid extreme fear levels.
Standard Chartered slashes 2026 XRP target
On Feb. 16, Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered, cut the bank’s end-2026 XRP target by 65%, reducing it from $8 to $2.80.
The revision reflects what Kendrick described as a “capitulation-prone” environment.
According to the bank, institutional outflows have persisted, exchange-traded fund inflows have cooled despite roughly $1.37 billion in cumulative allocations since late 2025, and high interest rates alongside geopolitical uncertainty continue to suppress risk appetite.
The bank warned of “further declines near-term” across digital assets before any recovery later in 2026. The bank kept its 2030 target at $28, suggesting that prices could fall further in the short term before a longer‑term recovery takes hold.
XRP price prediction. How high can XRP go?
XRP is still in a medium-term downward trend. The daily chart clearly shows a pattern of lower highs and lower lows. The price is currently trading at about $1.47, which is slightly below the $1.49 20-day moving average. Meanwhile, the lower Bollinger Band is around $1.23, and the upper band is close to $1.76.
The recent rebound originated at the $1.23 level, where the lower Bollinger Band coincided with a sharp wick rejection. Although this provides some temporary respite, it does not yet indicate a definitive reversal. The 20-day moving average’s continued downward slope suggests that the bearish pressure has not completely subsided.
Momentum appears to be stabilizing, though it has not turned bullish. The relative strength index bounced from near-oversold levels around 30 and sits near 42. Remaining below 50, it suggests that sellers still hold a modest advantage. A clear move above 50 would strengthen the case for a mid-term recovery.
Key support can be found at $1.23, with additional psychological backing near $1.20. A loss of that region exposes $1.00–$1.05, and potentially $0.90 if broader market weakness resumes.
On the upside, $1.50 is the first hurdle, aligning with the 20-day moving average. A clean break could open a move toward $1.75–$1.80, followed by $2.00–$2.20, where prior consolidation created structural resistance.
The major supply zone between $2.40 and $2.60 is a level that would invalidate the current downtrend if reclaimed. If $1.30–$1.23 holds, a relief rally toward $1.75–$2.00 looks likely in the near future. However, XRP would probably return to the $1.00 range if it broke below $1.23.
In the long run, targets at $3.00 and even $3.40 become technically feasible if XRP recovers $1.75, breaks $2.20, and reaches higher highs above $2.60. Until then, rallies are likely to be treated as corrective within a broader downtrend.
Crypto wealth platform Nexo has officially returned to the United States, announcing on Feb. 16, 2026, a full relaunch of its investment and credit products through a compliant, regulated framework after years away from the market.
Summary
- Nexo has officially relaunched in the United States, offering yield products, crypto-backed credit lines, and trading services through a compliance-focused structure.
- The return comes two years after Nexo paid a $45 million settlement to the U.S. Securities and Exchange Commission and exited the U.S. market over its Earn Interest Product.
- On-chain data from CryptoQuant shows roughly $863 million in loans issued over the past year, signaling sustained user demand despite broader crypto market volatility.
The move marks a pivotal reset for the company following past clashes with U.S. regulators and comes amid strong activity in its lending business, even through broader crypto market volatility.
Nexo’s re-entry is being executed in partnership with U.S.-regulated service providers and leverages digital asset trading infrastructure from Bakkt, a publicly listed platform focused on institutional-grade compliance.
The relaunched U.S. offering includes flexible and fixed-term yield programs, an integrated exchange, crypto-backed credit lines, a loyalty program, and streamlined fiat on- and off-ramps.
Lessons from the past: Regulatory exit and settlement
Nexo’s return comes years after it exited the U.S. market amid regulatory pressure.
In 2023, the platform paid a $45 million settlement with the U.S. Securities and Exchange Commission over its Earn Interest Product, a crypto lending offering the SEC said should have been registered as a security. Subsequently, the firm discontinued that product for American users.
Nexo did not admit or deny the SEC’s findings under the settlement.
Following the settlement, the company withdrew from the U.S. as it recalibrated its approach to compliance and market engagement. The recent relaunch signals a new strategy rooted in regulatory collaboration and licensed partnerships rather than unilateral product deployment.
Lending activity signals confidence amid market pullback
Nexo’s broader platform continues to show significant demand in its core lending business, even through recent crypto market weakness.
On-chain data analyzed by CryptoQuant indicates that Nexo users borrowed roughly $863 million in credit between January 2025 and January 2026, with nearly $1 billion issued overall.
Notably, over 30 % of these loans were repaid during a market drawdown, a pattern interpreted by analysts as managed deleveraging rather than panic liquidation.
By re-entering the U.S. market with tightened regulatory alignment and a diversified product suite, Nexo is positioning itself for long-term engagement with one of the world’s largest crypto investor bases.
The company’s leadership frames the return as part of a broader belief that regulatory clarity and disciplined risk management are essential to the next stage of digital asset adoption.
The current bear market is not as bad as those from previous years, according to Matt Hougan.
“The folks saying this [crypto] winter is worse than 2018 or 2022 don’t remember 2018 or 2022,” said Bitwise Chief Investment Officer Matt Hougan on Tuesday.
In 2018, “we had $3,000 Bitcoin and a ‘global computer’ [Ethereum] with no applications and limited throughput,” he said before adding, “In 2022, we had a total market collapse and a regulator that wanted to put us out of business.”
Things are a little different today as we have “stablecoins going to $3 trillion, tokenization going to $200 trillion, a positive regulatory climate, and better tokenomics,” he said.
Additionally, BlackRock and Apollo are building on DeFi, there is a “massively built out infrastructure,” ETFs, and “rising concerns about fiat currency.”
“So, yep, I’m optimistic. It doesn’t mean smooth sailing, but I’m excited for the ride.”
Previous Bear Markets Were Apocalyptic
The current bear market has seen total capitalization decline 49% from its peak of just below $4.4 trillion in October to its low of $2.23 trillion on Feb. 6. This is much shallower than previous bear markets, but it is not over yet. In 2018, markets collapsed by 88%, and in 2022, they crashed by around 73% from the previous cycle peak to the bear market bottoms.
The 2022 FTX crash “was dark,” and 2018 “was borderline crypto extinction sentiment,” commented the Kobeissi Letter. The March 2020 Covid crash was also apocalyptic, with markets tanking 56% in less than a month.
The difference this time, as pointed out by Hougan, is that the fundamentals for crypto are much stronger. Many analysts believe the current market slump is driven not by crypto-native factors but by broader macroeconomic and geopolitical concerns.
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Glassnode reported that Bitcoin’s crash to $60,000 on Feb. 6 “imposed drastic psychological pressure on ‘diamond hands’ comparable to the May 2022 Luna crash.”
“Simply put, long-term holders realized significant losses — a rare shift in conviction typically seen in deeper stages of bear markets.”
The recent drop to $60k imposed drastic psychological pressure on “diamond hands,” comparable to the May 2022 LUNA crash.
In both cases, the 7D EMA of Long-Term Holder SOPR fell below 1 after trading for 1-2 years above it.
Simply put, long-term holders realized significant… pic.twitter.com/xc6bXzwPYx— glassnode (@glassnode) February 16, 2026
Long Term Holders Still in Profit
Alphractal founder Joao Wedson said on Monday that the Net Unrealized Profit/Loss (NUPL) for long-term holders stands at 0.36, “meaning long-term holders are still, on average, in profit.”
“When Long-Term Holders’ NUPL enters negative territory, it means even the most convicted participants are holding unrealized losses. Historically, this marks the phase of maximum market depression.”
In previous cycles, “this was the final phase before the start of a new bull run,” he said, noting that we are not there yet.
Bitcoin was trading around $68,000 at the time of writing after failing again to top $70,000 on Monday.
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Investors are most bearish on the dollar in over a decade, per Bank of America’s (BofA) latest survey and that extreme bet could breed bitcoin volatility, just not the way crypto bulls have become used to.
BofA’s February survey shows investor positioning in the U.S. dollar has fallen to its most negative (bearish) level since at least early 2012, with net exposure at a record underweight. This is driven by concerns over further deterioration in the U.S. labor market, which could prompt the Federal Reserve to cut interest rates.
Since its inception, bitcoin has mostly moved in the opposite direction of the U.S. Dollar Index, rising when the greenback slides and falling when it strengthens. That tracks for two big reasons: As a dollar-denominated asset, a softer buck makes BTC cheaper to buy and vice versa. Plus, a strong dollar tightens financial conditions globally, hammering risk assets like bitcoin and the reverse holds when it weakens.
So, if history is a guide, the record bearish dollar positioning, a sign of investors aligned for a weaker dollar, could be termed a classic bullish tailwind for bitcoin.
But wait, there’s a twist. Since early 2025, and especially lately, bitcoin has developed a weird positive link to the dollar. DXY plunged over 9% last year and another 1% this year. Yet BTC dropped 6% in 2025 and is down 21% year-to-date. Their 90-day correlation hit 0.60 on Monday, the highest since April 2025, according to data source TradingView.
If that link sticks, a deeper slide in the dollar index may not bode well for bitcoin. But the flip side is a dollar bounce, fueled by a short squeeze, could drag BTC higher with it.
When investors pile into extreme bearish positions, any unexpected price bounce forces them to buy back en masse to limit losses, creating a short squeeze. This frantic covering propels the asset price higher, amplifying volatility skyward.
“Record short positioning raises the risk of volatility in major USD pairs; downside may extend on weak US data, but crowded trade dynamics increase potential for sharp short-covering rallies,” InvestingLive’s Chief Asia-Pacific Currency Analyst Eamonn Sheridan said in a market update.
At press time, the dollar index was up 0.25% on the day at 97.13 and bitcoin changed hands at $68,150, down 1%, according to CoinDesk data.
TLDR:
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- Axelar Network has integrated Stellar, connecting its payments infrastructure with cross-chain interoperability tools
- Solv Protocol, Stronghold, and Squid Router launched live on the Axelar-Stellar integration at launch day.
- Stronghold bridges SHx between Stellar and Ethereum, maintaining a unified 1:1 token supply across both chains.
- Axelar’s 2026 roadmap targets compliant, institutional-grade infrastructure, aligning closely with Stellar’s focus.
Axelar Network has completed its integration with Stellar, linking two key infrastructure layers in the digital asset space.
The move connects Stellar’s payments and asset issuance capabilities with Axelar’s cross-chain interoperability protocol. At launch, Solv Protocol, Stronghold, and Squid Router are already live and operational.
The integration opens new pathways for tokenization, trading, and yield products across blockchain networks for institutional and retail participants alike.
New Cross-Chain Capabilities Reach Builders Immediately
Axelar Network confirmed the integration is live, with projects already building on the combined infrastructure. Stellar brings high throughput, low fees, and native compliance tooling to the table.
Its ecosystem includes payment providers, fintech platforms, and capital markets participants with an established developer base.
The Axelar team announced the milestone on X, stating: “Stellar is now live on Axelar. This integration expands institutional-grade onchain finance, connecting @StellarOrg’s strengths in payments and asset issuance with Axelar’s interoperability layer. At launch, @SolvProtocol, @strongholdpay, and @squidrouter are already live.”
Solv Protocol is among the first to build on the combined stack. Solv is a major allocator in tokenized real-world assets and holds the largest onchain Bitcoin reserve.
Through Axelar and Stellar, Solv can extend yield-bearing products into cross-chain markets. Builders can bridge solvBTC to Stellar today using Solv’s cross-chain application.
Stronghold is bridging its SHx token between Stellar and Ethereum through Axelar’s protocol. The bridge maintains a 1:1 supply across both networks while supporting consistent liquidity.
As noted in the announcement, the bridge allows “SHx holders to move assets freely between the two networks while maintaining a unified 1:1 supply.” SHx holders can already move assets between the two chains via Squid Router.
Institutional Adoption Drives the Integration’s Strategic Direction
Axelar Network’s 2026 roadmap, outlined by Common Prefix, centers on institutional adoption and compliant infrastructure.
Stellar’s focus on payments, regulated asset issuance, and compliance-oriented tools aligns well with that direction.
The roadmap specifically targets “strengthening economic security, enabling compliant and privacy-aware infrastructure, and building institutional products up the stack.”
Squid Router already supports bridging assets including XLM and solvBTC on the integrated network. Its role as a liquidity routing layer allows Stellar-based assets to access broader markets without fragmenting developer workflows. This gives builders immediate cross-chain reach from the Stellar ecosystem.
Financial institutions across global markets continue to explore onchain infrastructure for settlement and trading. Axelar and Stellar co-authored a joint article on onchain retail payments published in The Stablecoin Standard.
That collaboration reflects a shared focus on production-ready infrastructure built for institutional participants.
Axelar Network’s integration with Stellar is fully available to builders today. The announcement confirmed that “applications can begin connecting onchain assets and services across both networks today.”
The integration positions both ecosystems to support the continued growth of regulated, cross-chain digital asset products.
German central bank president Joachim Nagel said he sees “merit in euro-denominated stablecoins,” and argues that they could serve as a cheaper and more efficient means for cross-border payments by both firms and individuals.
Summary
- German central bank president Joachim Nagel said euro-denominated stablecoins can serve as a means for low-cost cross-border payments.
- He said the Bundesbank has completed significant exploratory work on a potential wholesale CBDC.
During his speech at the New Year’s Reception of the American Chamber of Commerce in Germany in Frankfurt, Nagel, who leads the Deutsche Bundesbank, added that the EU is “working hard on the introduction of the digital euro.”
“This will be the first pan-European retail digital payment solution, based solely on European infrastructures,” he added.
However, he did not elaborate on how euro-denominated stablecoins would be regulated within the European Union’s existing legal framework, nor clarify how they would interact with the planned digital euro or broader monetary policy architecture.
In separate comments made last week, Nagel cautioned that if US dollar-denominated stablecoins were to gain significantly larger market share than a euro-pegged alternative, European monetary policy “could be severely impaired,” and the continent’s sovereignty could be weakened.
Nagel, who has long maintained a cautious and skeptical stance toward unbacked cryptocurrencies, has instead advocated the use of a state-backed digital euro, which he believes “will play a role in future resilience” for Europe.
According to him, the central bank has already “accomplished important exploratory work on the possible introduction of a wholesale CBDC.” A wholesale CBDC, he said, would allow financial institutions to make “programmable payments” in central bank money.
Elsewhere in the U.S., there has been a lot of momentum around stablecoin, and the market has been expanding at a rapid pace on the back of demand for dollar-equivalent settlement layers, especially after President Donald Trump signed the GENIUS Act into law in July 2025.
But policy deadlock around a key market structure bill has stalled progress and divided crypto industry and banking stakeholders over issues such as stablecoin yield and reward mechanisms.
The European Union is preparing a sweeping ban on cryptocurrency transactions involving Russian entities, even as Russian financial firms accelerate efforts to institutionalize crypto investment products at home.
Summary
- The European Commission is proposing a blanket ban on all cryptocurrency transactions involving Russian entities as part of its 20th sanctions package.
- The measure aims to close loopholes that previously allowed sanctioned Russian crypto platforms to rebrand or reroute transactions.
- Meanwhile, Russian broker Finam has launched a regulated cryptocurrency mining investment fund registered with the Bank of Russia, signaling deeper institutional adoption of digital assets in Russia.
EU targets Russian crypto with sweeping ban
According to a recent Financial Times report, the European Commission is proposing a blanket prohibition on crypto dealings between EU individuals or companies and any crypto-asset service provider established in Russia. The measure forms part of the bloc’s 20th sanctions package against Moscow since the invasion of Ukraine.
Unlike previous rounds that targeted specific exchanges or wallets, the new proposal would ban all Russian-linked crypto transactions, aiming to close loopholes that allowed sanctioned entities to rebrand or shift operations.
EU officials argue that cryptocurrencies, stablecoins and digital payment rails have created alternative channels for cross-border value transfers outside traditional banking oversight.
The draft reportedly includes restrictions tied to Russian digital finance infrastructure such as ruble-linked stablecoins and any future central bank digital currency.
However, the plan requires unanimous approval from all 27 EU member states, a hurdle that could complicate adoption and enforcement.
Russia deepens crypto investment push
At the same time, Russia’s domestic crypto sector is expanding.
Broker Finam has launched trading in units of a new investment fund focused on cryptocurrency mining operations. The fund pools capital to finance industrial-scale mining infrastructure, including facilities powered by natural gas in regions such as Mordovia.
It has been registered with the Bank of Russia, signaling increasing formalization of the sector.
The move reflects Russia’s broader strategy to regulate and legitimize crypto mining after legal reforms in recent years. With abundant energy resources and cold climates suitable for mining operations, Russia has positioned itself as a significant global mining hub.
Structured investment vehicles like Finam’s fund provide domestic investors exposure to digital asset production without directly holding cryptocurrencies.
For Brussels, digital assets represent a potential sanctions-evasion channel requiring tighter restrictions. For Moscow, crypto mining and regulated investment products are becoming tools of economic resilience and financial innovation under Western pressure.
TLDR:
- Buterin confirms users need no alignment with his views on AI, DeFi, or culture to use Ethereum.
- He argues calling an app “corposlop” is free speech, not censorship, under Ethereum’s open framework.
- Buterin warns that pretend neutrality weakens values, urging crypto builders to state principles clearly.
- He compares Ethereum to Linux, saying a full-stack value-aligned ecosystem must exist alongside the protocol.
Ethereum co-founder Vitalik Buterin has issued a wide-ranging statement on personal views, free speech, and decentralized protocols.
He made clear that users do not need to share his opinions to participate in the Ethereum network. At the same time, he firmly asserted his right to openly criticize applications he disagrees with.
His remarks draw a firm line between protocol neutrality and individual expression within the broader ecosystem.
Ethereum Belongs to No Single Voice
Buterin opened his statement by listing several areas where he holds strong personal views. He wrote, “You do not have to agree with me on political topics to use Ethereum,” adding the same applies to his views on DeFi, AI, and even cultural preferences.
He noted that agreement on none of these topics is required to use Ethereum. This reflects the core promise of a permissionless system.
He was direct in stating that Ethereum is a decentralized protocol. As such, no single person — including himself — speaks for the entire ecosystem.
He noted that “the whole concept of permissionlessness and censorship resistance is that you are free to use Ethereum in whatever way you want.” Users are free to build and transact without seeking approval from any central figure.
However, Buterin acknowledged that his individual voice still carries weight in public discourse. He separated his personal commentary from any form of network-level control.
The distinction, he argued, is essential to understanding what decentralization actually means in practice.
Free Speech Carries Responsibility in Crypto
Buterin addressed the tension between criticism and censorship directly in his post. He stated clearly, “If I say that your application is corposlop, I am not censoring you.”
The network remains open regardless of what he says about any project. This, he argued, is the grand bargain of free speech.
Furthermore, he pushed back against what he described as false neutrality. He wrote that “the modern world does not call out for pretend neutrality, where a person puts on a suit and claims to be equally open to all perspectives.”
Instead, he called for the courage to state principles clearly and to point to negative examples when needed. Criticism, in his view, is a civic responsibility, not an attack.
He also noted that principles cannot remain at the protocol layer alone. He argued that “valuing something like freedom, and then acting as though it has consequences on technology choices, but is completely separate from everything else about our lives, is not pragmatic — it is hollow.” Staying silent on broader social questions, he said, weakens the values themselves.
The Linux Parallel and Full-Stack Value Systems
To illustrate his point, Buterin drew a direct comparison to Linux. He noted that “Linux is a technology of user empowerment and freedom,” yet it also serves as “the base layer of a lot of the world’s corposlop.” The same base layer can serve very different ends. Ethereum, he said, operates the same way.
Because of this, he argued that building the protocol is not enough. He wrote that “if you care about Linux because you care about user empowerment and freedom, it is not enough to just build the kernel.”
A full-stack ecosystem aligned with specific values must also exist alongside it. That ecosystem will not be the only way people use Ethereum, but it must remain available.
He closed by noting that the borders of any shared value framework are naturally fuzzy. He acknowledged that “it is possible, and indeed it is the normal case, to align with any one on some axes and not on other axes.” Ethereum, like Linux, will always serve many communities and value systems at once.
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