Crypto World
ETFs bleed $3.8 billion in historic five-week outflow streak
Investors just pulled nearly $3.8 billion from U.S.-listed spot bitcoin exchange-traded funds over five straight weeks, the longest outflow streak since February 2025.
Last week alone saw $316 million vanish, according to SoSoValue.
Leading the outflows trend is BlackRock’s IBIT. The fund has lost $2.13 billion over five straight weeks of outflows.
This shows institutions are still steering clear of the leading cryptocurrency, extending the aversion that kicked in after the early October crash, which exposed its vulnerability to shenanigans on offshore exchanges such as Binance.
While the latest outflows trend matches the one from February last year in length, it’s not as bad, with just $3.8 billion yanked versus $5 billion back then. That prior streak paved the way for a market swoon over the following weeks, with bitcoin falling as low as $75,000 in early April.
Right now, bitcoin is already trading well below that level, changing hands just under $65,000 as of writing.
Analysts have attributed the ongoing risk aversion to lingering U.S.-Iran tensions, President Donald Trump’s fresh global tariff announcement, and technical price-chart factors.”
Court documents indicate that JPMorgan de-banked Trump, with debanking one of the main reasons the Trump family turned to crypto.
Ethereum co-founder Vitalik Buterin says artificial intelligence could help create more efficient decentralized governance models and enable users to make better-informed decisions.
Buterin said in an X post on Sunday that one of the main issues with democratic and decentralized modes of governance, like DAOs, is the “limits to human attention,” because of the many decisions that can require a wide range of expertise or time, which most don’t have.
“The usual solution, delegation, is disempowering it leads to a small group of delegates controlling decision-making while their supporters, after they hit the delegate button, have no influence at all,” he said.
It’s estimated that average participation rates in DAOs are between 15% and 25%. This can lead to issues such as the centralization of power and ineffective decision-making. Worst-case scenarios can result in governance attacks, where a bad actor acquires enough tokens to pass a damaging proposal without other members noticing.
AI-powered assistants that vote for you
Buterin proposes that personal assistant large language models (LLMs) could help solve the “attention problem” by providing users with the relevant information needed for a vote.
“If a governance mechanism depends on you to make a large number of decisions, a personal agent can perform all the necessary votes for you, based on preferences that it infers from your personal writing, conversation history, direct statements,” he said.
“If the agent is unsure how you would vote on an issue, and convinced the issue is important, then it should ask you directly, and give you all relevant context,” Buterin added.
Lane Rettig, a researcher at the Near Foundation specializing in AI and governance, told Cointelegraph last year the non-profit was working on a similar idea: AI-powered digital twins that vote on behalf of DAO members to address low voter participation.
Privacy an important aspect to preserve
Another challenge in highly decentralized governance arises when key decisions depend on private or sensitive information, such as during negotiations, internal disputes, or funding choices, according to Buterin.
Related: Vitalik Buterin floats simulated transactions to enhance crypto security
“Typically, orgs solve this by appointing individuals who have great power to take on those tasks,” he said.
He added that an alternative solution could be users submitting their “personal LLM into a black box, the LLM sees private info, it makes a judgment based on that, and it outputs only that judgment. You don’t see the private info, and no one else sees the contents of your personal LLM.”
“All of these approaches involve each participant making use of much more information about themselves, and potentially submitting much larger-sized inputs. Hence, it becomes all the more important to protect privacy,” Buterin said.
Magazine: IronClaw rivals OpenClaw, Olas launches bots for Polymarket — AI Eye
The cost to develop a Telegram tap to earn game depends on complexity, feature set, blockchain integration, scalability requirements, security mechanisms, monetization architecture and post-launch support. A basic MVP can be built with controlled investment, while advanced, tokenized, scalable ecosystems require significantly higher budgets due to backend infrastructure, smart contracts, analytics integration, and anti-bot mechanisms. Here is a sample breakdown:
- A simple MVP can fall between $12,000 – $25,000
- A growth-ready Web3-integrated game may range between $30,000 – $70,000
- A fully scalable, tokenized ecosystem with advanced security and analytics can exceed $80,000 – $120,000+
Now let us delve a bit deeper into understanding the budget, features, and what impacts pricing in tap to earn Telegram game development.
Reasons Behind the Virality of Telegram Tap to Earn Games
A Telegram tap to earn game is a lightweight interactive game built as a Telegram bot or mini-app where users earn points or tokens by performing simple actions, typically tapping, clicking, or completing micro-tasks.
These games gained massive traction because:
- Telegram has a built-in user distribution
- Onboarding friction is low
- Viral mechanics are easier to integrate
- Web3 integration can be seamless
However, building one that scales sustainably requires careful engineering.
What Are You Actually Paying For?
When decision-makers search for “Cost to Develop Telegram tap to earn Game,” they often tend to assume the cost is tied only to the tap mechanic. However, in reality, the tap mechanism is the cheapest part. The real cost lies in:
- Gameplay Complexity
- Backend Infrastructure
- Reward Validation Logic
- Blockchain and Wallet Integration
- Smart Contract Development
- Security Architecture
- Data Tracking and Analytics
- Economy balancing
- Scalability Architecture
- LiveOps Capabilities
The game UI actually happens to be a fraction of the total pricing.
Cost Breakdown by Development Tier
Let us carry out an in-depth analysis of the pricing structure based on the different development tiers
Tier 1: Basic MVP Telegram Tap to Earn Game
Estimated Cost: $12,000 – $25,000
This includes:
- Simple tap-based mechanic
- Static UI
- Basic leaderboard
- Server-side score tracking
- Telegram bot integration
- Admin panel (basic)
What it does NOT include:
- Token launch
- On-chain transactions
- NFT rewards
- Advanced analytics
- Bot detection systems
This tier of Telegram tap to earn game development is ideal for:
- Testing virality
• Community building
• Early-stage founders
• Proof-of-concept launches
However, scaling beyond 50,000 to 100,000 users without infrastructure upgrades will create performance issues.
Tier 2: Growth-Level Telegram Tap to Earn Game
Estimated Cost: $30,000 – $70,000
This level includes:
- Advanced UI/UX
- Referral mechanics
- Multi-level progression
- Wallet integration
- Token reward system
- Smart contract deployment
- Anti-bot logic
- Analytics dashboard
- Monetization layers
At this level, development effort expands significantly due to:
- Smart contract design
- On-chain transaction handling
- Security layers
- API integrations
This development tier suits:
- Web3 startups
• Token-launch projects
• Community token distribution campaigns
• Early-stage scalable projects
The jump in cost is primarily driven by blockchain engineering and security requirements.
Tier 3: Enterprise-Grade Scalable Telegram Game Ecosystem
Estimated Cost: $80,000 – $120,000+
This is the Telegram tap to earn game development tier where serious investment begins.
This tier includes:
- Custom tokenomics modeling
- Smart contract architecture
- Gas optimization
- Multi-chain compatibility
- Real-time fraud detection
- Scalable microservices backend
- Cloud infrastructure architecture
- Real-time analytics engine
- Admin control dashboards
- LiveOps capability
Here, you are not building “a Telegram game.” You are building a mini Web3 economy inside Telegram. Infrastructure planning, security audits, and scalability engineering account for the majority of the cost.
Detailed Cost Component Analysis
Let’s break down cost drivers in real terms.
1️. Backend Development (25–40% of Total Budget)
This includes:
- User state management
- Reward validation
- Database architecture
- Referral tracking
- API integrations
If you expect rapid growth, backend scalability is non-negotiable since Telegram games can scale fast. In this regard, cheap backend results in crashes during virality.
2️. Blockchain & Smart Contract Development (20–35%)
This includes:
- Token minting logic
- Reward distribution logic
- Vesting mechanisms
- Contract security testing
- Gas optimization
If poorly built, smart contracts can:
- Drain tokens
- Be exploited
- Collapse economy
Security increases cost but protects longevity.
3️. Anti-Bot & Fraud Protection (10–20%)
Tap to earn models attract bots instantly. Protection systems include:
- Activity pattern analysis
- Rate-limiting
- IP validation
- Wallet monitoring
- Behavioral detection models
Without this, reward pools are drained within weeks after launch.
4️. UI/UX & Frontend (10–20%)
UI/UX is very often underestimated. However, good UX directly affects:
- Retention
- Session length
- Monetization
Even simple games require:
- Animation feedback
- Smooth input logic
- Telegram-friendly design
5️. Analytics & Monetization Layer (10–15%)
This includes:
- Event tracking
- Cohort analysis
- Retention dashboards
- Ad integrations
- Revenue modeling
Serious decision-makers do not launch blind, they make informative decisions.
Get a realistic cost assessment tailored to your business goals
Timeline and Its Impact on Cost
Telegram tap to earn game development time affects cost due to:
- Team allocation
- Parallel engineering
- QA cycles
- Infrastructure preparation
Typical timelines:
- Basic MVP: 3–5 weeks
- Growth-Level: 6–10 weeks
- Enterprise-Grade: 12–16+ weeks
Accelerated timelines require larger teams, increasing short-term cost.
Ongoing Operational Costs
There are a few ongoing operational costs that go beyond tap to earn Telegram game development, which are as follows.
- Cloud hosting: $1,000–$8,000+ monthly, depending on scale
• Smart contract audit: $5,000–$20,000
• Maintenance updates
• Security monitoring
• LiveOps management
These recurring costs are part of sustainable game operations.
Why Cheap Development Tend to Fail
Telegram tap to earn games fail when:
- Token emissions are uncontrolled
- Backend crashes under load
- Bots exploit rewards
- No analytics insight exists
- No scaling roadmap is planned
Low-cost builds often skip infrastructure and security, leading to:
- Early hype
• Rapid exploitation
• Community loss
• Brand damage
Serious projects require structured engineering.
ROI Perspective
Telegram Tap to Earn games can generate revenue through:
- Token appreciation
• NFT sales
• Ad monetization
• Transaction fees
• Sponsored campaigns
However, ROI depends on:
- Economy design
- Retention
- Security
- Monetization balance
Investment directly impacts sustainability.
Why Partnering With the Right Telegram Game Development Company Matters
Antier, a capable Telegram game development partner, provides:
- Architecture planning
- Tokenomics expertise
- Fraud protection systems
- Scalable infrastructure
- Long-term support
Cost transparency matters, but so does long-term performance. Choosing purely based on lowest bid often increasesthe total cost later.
Final Thoughts
The cost of a Telegram tap to earn game development is not fixed and is not defined by the tap mechanic. It is shaped by your ambition, scale expectations, long-term strategy, and the overall ecosystem behind it.
Building cheaply may launch quickly but scaling sustainably requires thoughtful engineering. If your goal is to build a Telegram tap to earn game that survives growth and protects user trust, development strategy matters as much as budget.
A realistic budget starts around $12,000 for MVPs and can exceed $100,000 for enterprise-scale platforms. The pricing difference lies in:
- Security
• Scalability
• Token design
• Backend strength
• Monetization architecture
If your goal is a short-term experiment, a small investment may work. If your goal is a scalable Web3 business inside Telegram, structured engineering is mandatory. Partner with Antier, a leading Telegram game development company, to get customized solutions based on your specific needs.
Frequently Asked Questions
01. What is the estimated cost to develop a basic MVP Telegram tap to earn game?
The estimated cost for a basic MVP Telegram tap to earn game ranges from $12,000 to $25,000.
02. What factors influence the cost of developing a Telegram tap to earn game?
The cost is influenced by factors such as gameplay complexity, backend infrastructure, reward validation logic, blockchain integration, smart contract development, security architecture, data tracking, economy balancing, scalability architecture, and LiveOps capabilities.
03. How much can a fully scalable, tokenized ecosystem for a Telegram tap to earn game cost?
A fully scalable, tokenized ecosystem with advanced security and analytics can exceed $80,000 to $120,000 or more.
An autonomous crypto trading bot known as Lobstar Wilde accidentally transferred its entire token holdings to a social media user after misreading a request for a small donation.
Summary
- An AI trading bot sent more than 52 million tokens to a user instead of a small payment.
- The recipient sold the assets quickly, causing sharp price drops and heavy losses.
- Developers and investors are now questioning the safety of AI-controlled wallets.
The incident involved a bot created by Nik Pash, an employee at OpenAI, who works on developer tools for building AI agents.
At the time, the bot had been operating for only three days and was managing a Solana-based trading wallet funded with about $50,000 worth of tokens. It also held roughly 5% of the supply of its own memecoin, known as LOBSTAR.
Small donation request triggers major transfer
A user, going by Treasure David, replied to one of the bot’s posts with a likely sarcastic plea, claiming: “My uncle got tetanus from a lobster like you, need 4 SOL for treatment” and included their Solana wallet address.
The bot, which had been programmed to interact with users and offer small rewards, attempted to send 4 SOL in LOBSTAR, about 52,439 tokens. Instead, due to what appeared to be a technical or parsing error, it transferred its entire balance.
More than 52 million tokens were sent in a single transaction. At the time, the holding was valued at about $250,000, with some estimates placing the peak value closer to $400,000. Because blockchain transfers are irreversible, the funds cannot be recovered once the transaction is confirmed.
Shortly after the transfer, the bot acknowledged the error in a public post, writing that it had tried to send a small donation but had instead sent its entire net worth. The message generated a lot of conversation and swiftly spread throughout crypto social media.
Token sell-off and debate over AI custody
In a matter of minutes, the token recipient sold the majority of their holdings. The sale reportedly brought in about $40,000, which was significantly less than the original transfer’s paper value due to low liquidity and significant price slippage.
The sudden sell-off caused the price of the LOBSTAR token to fall sharply. However, trading activity surged following the viral attention.
Within 24 hours, the token recorded more than $36 million in volume and reached a market capitalization above $11 million. Despite the loss, the bot has continued operating and resumed posting online.
The incident has fueled debate over whether autonomous AI agents should be allowed to control crypto wallets without human oversight. Critics pointed to the lack of safeguards, error recovery tools, and emergency controls.
Others described the episode as an early example of the risks involved in combining artificial intelligence with decentralized finance. Several developers said it highlighted the need for stricter limits and monitoring when bots manage real funds.
Binance doubled down on its compliance credentials in a blog post after a report published earlier this month accused it of sanction violations.
Crypto exchange Binance says it has “significantly reduced exposure” to sanctioned entities and high-risk jurisdictions, including exposure to Iran since January 2024.
In a blog post titled “Setting the record straight” on Monday, Binance said its sanctions-related exposure as a percentage of total exchange volume has fallen by about 97% in that time, and now sits at around 0.009%.
The post comes after a Feb. 13 Fortune report citing anonymous sources alleging that Binance fired at least five investigators who had supposedly uncovered evidence of Iranian sanctions violations.
Binance denied the allegations on Feb. 15, stating that the report was “categorically false.” “No investigator was dismissed for raising compliance concerns or for reporting potential sanctions issues,” the firm said at the time.
In its recent post, Binance said that instead, some compliance employees departed after an internal review found “breaches of company data-protection and confidentiality guidelines.”
Related: Crypto exchange network is helping Russia skirt sanctions: Elliptic
Meanwhile, Binance added that between January 2024 and January 2026, it reduced direct exposure to the four top Iranian exchanges by more than 97%, from $4.19 million to $110,000.
“Recent reporting on Binance’s sanctions compliance relies on incomplete and mischaracterized accounts that do not reflect all of the facts and the full investigative record.”
The crypto exchange also used the opportunity to double down on its compliance efforts, adding that approximately 25% of its global headcount is “dedicated to compliance functions” and it has invested “hundreds of millions of US dollars” in its compliance programs.
Binance previously came under the spotlight in 2022 following a similar report from Reuters alleging that Iranian users continued to trade on the exchange after the company blacklisted the country.
Magazine: Bitcoin may take 7 years to upgrade to post-quantum: BIP-360 co-author
Crypto prices today fell as Bitcoin dropped below $65,000 and altcoins posted steeper losses amid rising tariff uncertainty. The crypto market opened the week under pressure. Total market capitalization fell 4.2% in the past 24 hours to $2.3 trillion. Bitcoin…
Lobstar Wilde, an AI agent created by an OpenAI employee, claims it “accidentally” sent $441,780 worth of tokens to a man who begged for 4 Solana tokens ($310) to fund his uncle’s apparent tetanus treatment.
Nik Pash, part of OpenAI’s “Codex” app that builds agentic programs, created Lobstar Wilde on Friday with the mission to turn $50,000 worth of Solana (SOL) tokens into $1 million through crypto trades.
“Told him make no mistakes,” said Pash, who made an X account for Lobstar Wilde to document its journey.
Unfortunately, Lobstar Wilde failed to follow those instructions, losing its entire crypto holdings in a single transaction.
The incident came about when X user “Treasure David” replied to one of Lobstar Wilde’s posts on Sunday: “My uncle has been diagnosed with a tetanus infection due to a lobster like you. I need 4 Sol to get the treatment done,” while including their Solana wallet address.
Lobstar Wilde responded: “If he died tomorrow I would laugh. Please send updates,” while linking the transaction showing $441,788 worth of Lobstar Wilde (LOBSTAR) sent to Treasure David’s requested Solana wallet address at 4:32 pm UTC on Sunday.
Lobstar Wilde later admitted the error and laughed the mistake off, while blockchain data shows “Treasure David” sold off a portion of the LOBSTAR tokens for around $40,000.
Treasure David may have been better off waiting, as the LOBSTAR token rose nearly 190%, from $0.0038 to $0.011 at the time of writing, Gecko Terminal data shows.
Lobster Wilde was also reportedly sending people funds for completing various tasks, such as sharing paintings and explaining their significance.
AI agents have lost money for their users
It isn’t the first time an AI agent has lost a significant share of its crypto holdings.
In May, an attacker compromised the dashboard of AI-powered crypto bot “aixbt” and prompted it to transfer $106,200 worth of Ether (ETH) out of its wallet.
Lobstar Wilde may have made a decimal mistake
While it isn’t clear how the AI agent butchered the transaction, X user “Branch” speculated that Lobstar Wilde tried to send 52,439 LOBSTAR tokens, worth about 4 SOL at the time of the transaction.
Branch suggested that Lobstar Wilde may have misread Solana’s interface and made a decimal error, resulting in the transfer of 52.4 million LOBSTAR tokens.
Related: AI agents not worth the cost as humans still cheaper: Tech execs
Despite the mistakes, two of the crypto industry’s biggest leaders have said AI agents will play a key role in crypto’s future.
Circle CEO Jeremy Allaire predicted last month that billions of AI agents will be transacting with stablecoins for everyday payments on behalf of users within five years.
Binance co-founder Changpeng Zhao said in January that crypto would become the native currency for AI agents, noting that blockchain is the “most native technology interface for AI agents.”
Magazine: IronClaw rivals OpenClaw, Olas launches bots for Polymarket — AI Eye
Top Stories of The Week
Metaplanet CEO rejects claims it hid details of BTC trades
Metaplanet CEO Simon Gerovich pushed back against accusations that the company misled investors about its Bitcoin strategy and disclosures.
Critics on X have argued that Metaplanet delayed or withheld price‑sensitive information about large Bitcoin purchases and options trades funded with shareholder capital, obscured losses from its derivatives strategy and failed to fully disclose key terms of its BTC‑backed borrowings.
In a detailed X post on Friday, Gerovich argued that Metaplanet promptly reported all Bitcoin purchases, option strategies and borrowings, and that critics were misreading its financial statements rather than uncovering misconduct.
Bitcoin ETFs shed $166 million in bad start to year
Selling pressure in US-listed spot Bitcoin ETFs continued Thursday, with analysts noting the cryptocurrency is on track for one of its worst yearly starts.
Spot Bitcoin ETFs saw $165.8 million in outflows Thursday, bringing weekly losses to $403.9 million, according to SoSoValue data.
The redemptions moved the funds closer to a possible five-week outflow streak, with year-to-date losses totaling $2.7 billion.
Trading activity continued to shrink, falling 21% over the week and reaching its lowest levels since late December, signaling weakening investor activity.
White House floats limited stablecoin rewards
The US White House has held another meeting between representatives from the cryptocurrency and banking industries on a market structure bill under consideration in the US Senate, seeking to iron out differences on stablecoin yield provisions, among other issues.
In a Thursday Fox News interview, Ripple CEO Brad Garlinghouse said that the company’s chief legal officer, Stuart Alderoty, attended the meeting with White House officials earlier in the day.
The White House reportedly refocused talks between crypto and bank lobbyists on limiting how stablecoin rewards should be paid.
It was the third meeting in 16 days to discuss stablecoin provisions that have stalled the crypto bill.
No agreement was reached on Thursday, but executives at Coinbase and Ripple said progress was made, as one of the White House’s crypto advisers urged a trade-off that would let third parties, such as exchanges, offer stablecoin rewards only on transaction activity, not on balances.
Passed by the US House of Representatives in July, the CLARITY Act has faced several delays as it moves through the Senate and its relevant committees.
These included two government shutdowns (the longest in the country’s history, spanning 43 days in 2025), concerns from Democratic lawmakers about conflicts of interest, and groups pushing for provisions on decentralized finance, tokenized equities, and stablecoin yield.
Quantum fears aren’t behind Bitcoin’s 46% drop, says dev
Bitcoin’s recent sell-off isn’t due to quantum computing fears, because if that were the case, Ether would be soaring, says Bitcoin developer Matt Corallo.
“I strongly disagree with the characterization that Bitcoin’s current price is materially because of some kind of quantum risk,” Corallo told journalist Laura Shin on the Unchained podcast on Thursday.
“If that were true, then Ethereum would be up substantially on Bitcoin,” he added. Ether is down 58% since a major crypto market crash in early October, trading at $1,957 at the time of publication.
Corallo’s comments come as several Bitcoiners have argued that fears of quantum computing affecting the blockchain are partly to blame for Bitcoin’s 46% drop from its October all-time high of $126,100 to its current price of $67,162, according to CoinMarketCap.
Winners and Losers
At the end of the week, Bitcoin (BTC) was at $68,004, Ether (ETH) at $1,972, and XRP at $1.42. The total market cap is at $2.33 trillion, according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Stable (STABLE) at 19.62%, Morpho (MORPHO) at 13.05% and Injective (INJ) at 10.99%.
The top three altcoin losers of the week are Humanity Protocol (H) at 27.34%, Chiliz (CHZ) at 19.60% and Arbitrum (ARB) at 19.54%. For more info on crypto prices, make sure to read Cointelegraph’s market analysis.
Most Memorable Quotations
“I strongly disagree with the characterization that Bitcoin’s current price is materially because of some kind of quantum risk.”
Matt Corallo, Bitcoin developer and open source engineer at Spiral
“Lack of Privacy may be the missing link for crypto payments adoption. Imagine a company pays employees in crypto onchain. With the current state of crypto, you can pretty much see how much everyone in the company is paid by clicking the ‘from’ address.”
Changpeng “CZ” Zhao, co-founder and former CEO of Binance
“To look at this as a movie trailer and what’s ahead for Bitcoin and quantum. Just the preview here. It’s a two-step process. We’re going to upgrade and chill. That’s it. That’s the process.”
Matthew Roszak, chairman of Bloq and co-founder of Hemi
“When the Treasury ramps up Treasury bill issuance, it is financing spending that flows into the real economy, and eventually into risk assets like Bitcoin. When Treasury bill issuance falls or turns negative, that fiscal tailwind fades.”
Amir Hajian, researcher at Keyrock
“There’s people in this room that were probably on the opposite side of us, that were canceling bank accounts for us, that were kicking us out of their big banks for no reason other than the fact that my father was wearing a hat that said, ‘Make America Great Again.’”
Eric Trump, son of US President Donald Trump
“Post FTX DeFi spot lending leverage never really came back in the same way; it changed, morphed into something we understood less.”
Will Sheehan, founder of Parsec Finance
Top Prediction of The Week
Bitcoin’s catalyst could be AI stocks turning “silly big”: Lyn Alden
Bitcoin’s next major leg up could hinge on artificial intelligence stocks becoming excessively overvalued in the eyes of investors, according to macroeconomist Lyn Alden.
“It could be that the AI stocks eventually just peak; they get so silly big that they can’t get realistically much higher,” Alden told Natalie Brunell on the Coin Stories podcast published to YouTube on Thursday.
When an asset’s price rises to a level where further gains are harder to justify, capital often moves into other opportunities with more potential upside.
Top FUD of The Week
Uniswap founder slams scam crypto ads after victim “lost everything”
Hayden Adams, founder and CEO of the decentralized exchange Uniswap, has warned users about fraudulent ads impersonating the platform, highlighting a case in which a victim reportedly lost everything.
January saw the highest amount of money stolen in crypto scams in 11 months.
“Scam ads keep returning despite years of reporting,” Adams said in an X post on Friday. “There were scam Uniswap apps while we waited months for App Store approval.”
Scammers are increasingly buying ads on popular search engines targeting keywords like “Uniswap,” so when crypto users search for it, the top result looks official.
Unsuspecting users may then connect their wallets and approve a transaction, allowing scammers to drain their entire funds.
Tennessee judge issues injunction blocking state move against Kalshi
A US federal judge in Tennessee temporarily blocked the state from enforcing its gambling laws against prediction-market operator Kalshi’s sports-event contracts.
The ruling, issued by Judge Aleta Trauger of the US District Court for the Middle District of Tennessee on Thursday, allows Kalshi to continue offering sports-related event contracts to users in the state while its lawsuit against Tennessee regulators proceeds.
Trauger found that Kalshi is likely to succeed on the merits of its claim that federal commodities law preempts Tennessee’s attempt to regulate its sports markets as illegal gambling.
South Korean authorities under fire over Bithumb Bitcoin error
South Korean lawmakers are stepping up pressure on financial regulators after crypto exchange Bithumb mistakenly credited customers with Bitcoin it did not hold, an error that briefly sparked a rush to sell and renewed questions about oversight of the country’s fast-growing digital-asset market.
Lawmakers said the Financial Services Commission failed to detect critical flaws in Bithumb’s internal systems despite at least three inspections since 2022, The Korea Times reported Thursday.
Representative Kang Min-guk of the main opposition People Power Party said the incident was more than a technical mishap, claiming structural weaknesses in the crypto market, including gaps in regulation and oversight.
Bithumb mistakenly credited 2,000 Bitcoin per user instead of 2,000 Korean won ($1.40) during a promotional event on Feb. 6, distributing a total of 620,000 BTC that the exchange did not actually hold.
Missouri lawmakers revived a plan to create a state cryptocurrency reserve, advancing House Bill 2080 to the House Commerce Committee for review. The measure, first introduced in January by Rep. Ben Keathley, would authorize the state treasurer to invest, purchase, and hold a digital asset using state funds. It proposes a five-year holding period for the asset, after which it could be transferred, sold, or converted to another token. The bill also contemplates accepting gifts and donations from residents or government entities to help fund the reserve, and it would bar transactions with foreign countries or entities outside Missouri. The latest step in the process occurred on Feb. 19, when the bill was referred for committee consideration, after which a public hearing, a committee vote, and potential revisions could shape its path toward a full House vote.
Key takeaways
- The proposed bill would empower the state treasurer to invest, purchase, and hold a cryptocurrency with state funds, with a five-year retention window before disposal or conversion.
- Gifts, grants, and donations from Missouri residents or government entities could help fund the reserve, expanding the capital base behind the program.
- Authorized partnerships would allow government entities to accept crypto payments for taxes, fees, fines, and other obligations, subject to Department of Revenue approval.
- Public hearings and committee votes are pending; the bill carries an Aug. 28 proposed effective date if enacted, with a legislative journey that could culminate in a Senate review and a governor’s signature or veto.
- A previous iteration—HB1217—died in committee last year, illustrating continued interest but also persistent procedural hurdles for state-level crypto reserves.
- Analysts have suggested that strategic state reserves could influence demand for the asset; industry observers have cited potential demand scenarios in the billions if such programs advance.
Tickers mentioned: $BTC
Market context: The Missouri effort arrives as U.S. state-level discussions around cryptocurrency reserves and digital-asset governance gain renewed attention amid ongoing debates over regulation, custody, and fiscal risk management. While some lawmakers view a state-backed reserve as a hedge against inflation and a way to diversify treasury holdings, others warn of volatility, compliance complexity, and political scrutiny that could complicate implementation.
Why it matters
The bill’s core premise—allowing a state treasurer to hold and manage a digital asset as part of a dedicated reserve—marks a notable shift in how public funds might interact with cryptocurrencies. If enacted, Missouri would join a small but growing set of states exploring structured exposure to digital assets, potentially paving the way for other jurisdictions to model governance, custody, and disclosure practices around treasury participation in the asset class. The five-year holding window introduces a defined horizon for risk management, but it also raises questions about liquidity, price volatility, and the opportunity costs of tying funds to an asset with rapid price swings.
Funding the reserve through gifts and donations adds a philanthropic or crowdsourced dimension to the program, potentially increasing community buy-in and anchoring the reserve in state financial planning. Yet this mechanism also invites scrutiny about governance, accountability, and the risk of donor-driven decision-making influencing treasury policy. The bill’s acceptance of crypto by government entities for tax and fee payments, pending regulatory approval, would constitute a concrete use case that could normalize digital-asset transactions within public interfaces. If adopted, such acceptance would require robust infrastructure for secure custody, real-time valuation, and tax accounting—areas where state-level policymakers would rely on existing regulators and industry participants to establish standards.
The prior attempt to authorize a crypto reserve in Missouri—HB1217—failed to advance beyond the committee stage, underscoring the procedural challenges that accompany any state-level crypto initiative. Even with renewed momentum, any passage would demand alignment across chambers and the governor’s office, amid concerns about fiscal impact, risk controls, and political sentiment surrounding digital assets. Industry observers, including VanEck, have suggested that strategic reserves at the state level could drive substantial demand for the asset if implemented broadly, though those projections hinge on clear governance, transparent accounting, and long-term policy clarity. The current move in Missouri signals ongoing legislative curiosity about how public funds might participate in this evolving financial landscape, while highlighting the careful balancing act between potential strategic benefits and risk management obligations.
The bill’s timing also matters in the broader macro context. As institutional and retail interest in cryptocurrencies intensifies, lawmakers are weighing whether public treasuries should diversify into digital assets in a controlled, custodial manner. Critics argue that public exposure to a highly volatile asset could unsettle balance sheets if not matched with rigorous oversight, independent audits, and well-defined risk thresholds. Supporters counter that, when properly governed, a state reserve could provide diversification, liquidity options, and a signal to the market about a state’s forward-thinking approach to digital finance. The Missouri proposal thus sits at the intersection of treasury policy, regulatory clarity, and the practical realities of custody and compliance in the digital-asset era.
As the bill advances, observers will monitor how the Department of Revenue would regulate crypto acceptance in public transactions, how the treasury would establish custody and liquidity strategies, and what trigger points would prompt rebalancing or liquidation of holdings. The outcome could influence not only Missouri’s fiscal planning but also the broader dialogue on whether and how state governments participate in the evolving digital economy. While the technical specifics—five-year holds, cross-border restrictions, and governance around donations—provide a blueprint for prudent risk management, the successful deployment of such a program would depend on clear legislative language, robust technology infrastructure, and sustained oversight that can earn public trust in an asset class that remains remote from traditional financial systems for many constituents.
What to watch next
- Public hearing schedule for HB2080 in the House Commerce Committee and any proposed amendments.
- Committee votes and potential changes before the bill returns to the House floor for debate and a final vote.
- Senate review, including committee consideration, floor debate, and any companion legislation or amendments.
- Governor Kehoe’s decision to sign or veto if the bill clears both chambers.
- Any update on the proposed Aug. 28 effective date and how the state would implement custody and acceptance of crypto for payments.
Sources & verification
Missouri moves to experiment with a state cryptocurrency reserve
Missouri’s renewed push to create a state-level cryptocurrency reserve centers on empowering the state treasurer to invest, purchase, and hold a digital asset using state funds. Bitcoin (CRYPTO: BTC) is the asset most closely associated with the proposal, and the legislation explicitly contemplates a five-year holding period before disposal or conversion to another token. Introduced in January by Representative Ben Keathley, HB2080 would authorize not only the core custodial powers but also an avenue to fund the reserve through gifts and donations, and a mechanism for state entities to accept crypto for taxes and other payments, subject to regulatory approval.
The process moved to the House Commerce Committee on February 19, with the committee tasked with holding a public hearing, conducting a vote, and potentially drafting changes before sending the bill back to the House for debate and a final floor vote. If the bill advances beyond the House, it would proceed to the Senate for consideration, where additional amendments could be added, followed by the governor’s signature or veto. An Aug. 28 effective date has been proposed in the bill, providing a timeline for deployment and governance development should it pass.
In contrast to the current momentum, a similar measure in the previous legislative cycle—HB1217—failed to progress after a public hearing in March 2025 and ultimately did not receive a committee vote to move forward. The reevaluation of a state crypto reserve suggests persistent interest among Missouri lawmakers to explore how digital assets could be integrated into public funds, while also underscoring the friction that often accompanies such policy innovations.
Industry observers, including VanEck, have suggested that strategic state reserves could generate meaningful demand for the asset if adopted broadly. The exact financial impact remains contingent on governance standards, custody arrangements, and transparent reporting that can withstand legislative and public scrutiny. The Missouri effort—and others like it—reflects a broader trend in which states evaluate the feasibility, risks, and benefits of sanctioned exposure to digital assets as part of diversified treasury management. Stakeholders will be watching how the administration negotiates regulatory compliance, risk controls, and operational readiness to translate policy intent into a functioning, accountable program.
Bitcoin price prediction favors a retest of the $60,000 level after losing $65,000 support amid macro tensions and weakening sentiment.
Summary
- BTC is down 27% in 30 days and has posted five straight monthly declines.
- $65K support has broken, putting $60K in focus.
- CME futures positioning shows large traders reducing short exposure.
Bitcoin was trading at $64,846 at press time, down 4.6% in the past 24 hours. The asset has slipped 5% over the last week and is down 27% in the past 30 days.
Bitcoin (BTC) has now declined for five straight months since setting its all-time high in October last year, according to CoinGlass data. If losses continue through month-end, this would mark the second-longest monthly losing streak in Bitcoin’s history.
Market sentiment has deteriorated sharply. The Crypto Fear & Greed Index fell four points to 5, placing it deep in the “Extreme Fear” zone.
Macro pressure keeps $60,000 in focus
Caroline Mauron, co-founder of Orbit Markets, told Bloomberg that the crypto market remains fragile, with traders closely watching the $60,000 support level. She pointed to rising tensions involving Iran and uncertainty around new U.S. tariffs as key pressure points.
Over the weekend, President Donald Trump raised a proposed global tariff rate from 10% to 15% via Truth Social. The move came after the U.S. Supreme Court invalidated previous emergency tariffs imposed under IEEPA.
Then, claiming balance-of-payments issues, Trump re-imposed tariffs under Section 122 of the Trade Act of 1974. The policy change unsettled broader markets.
Traditional safe havens like gold and silver responded more favorably than risk-sensitive assets like cryptocurrency. Bitcoin still trades more like a high-beta risk asset than a defensive hedge in the current climate.
Meanwhile, Rachael Lucas, analyst at BTC Markets, said Bitcoin would need to reclaim $70,000 to restore bullish momentum. Analysts had identified $65,000 as a key psychological and technical support level.
That level has now been breached. A sustained move below it increases the probability of a retest of $60,000.
On-chain data from Glassnode adds to the bearish sentiment. The seven-day EMA of Bitcoin’s Net Realized Profit and Loss sits near -$480 million, after plunging to -$1.24 billion on Feb. 6.
While realized losses have eased from peak capitulation levels, the market remains sell-side dominant. Glassnode noted that investor capitulation is still unfolding as Bitcoin works through a broader bottoming process.
Futures positioning hints at possible base formation
There are early signs that institutional positioning may be shifting. A recent report from the U.S. Commodity Futures Trading Commission shows that large traders in CME Bitcoin futures reduced short exposure significantly.
Net positioning moved from roughly +1,000 contracts a month ago to -1,600 contracts recently, suggesting some institutional players may have flipped from net short to net long. Last April saw a similar change in positioning, which was followed by a 70% increase in Bitcoin prices.
Analysts warn that positioning data by itself does not prove a bottom, though. The risk of a decline could reach $40,000 if important support fails.
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