TLDR

• Bitcoin whale holdings have increased by 3.4% over the past two months, reaching 3.1 million BTC.
• The surge in whale accumulation follows a sharp 7% drop in Bitcoin’s price before December 2025.
• Darkfrost notes that whale buying behavior typically occurs during market corrections, signaling future recovery.
• Despite a 46% decline from Bitcoin’s all-time high, whales view the current price as a favorable accumulation zone.
• Bitcoin faces continued selling pressure, with price fluctuations remaining between $66,615 and $68,434.

Bitcoin whales are increasing their holdings of the cryptocurrency, as price fluctuations continue. Data from CryptoQuant Analyst Darkfrost shows that whale Bitcoin accumulations have risen by 3.4% over the past two months. This uptick, following a significant drop in November 2025, suggests that large investors are taking advantage of current price levels. At present, Bitcoin’s price remains volatile, but whale activity indicates a strong belief in future growth.

Bitcoin Whale Accumulations Show Growth

Whale holdings of Bitcoin have seen a steady increase since mid-December 2025. According to CryptoQuant Analyst Darkfrost, these accumulations have gone up by 3.4%. The total amount of Bitcoin in whale wallets has reached 3.1 million BTC, a rise from 2.9 million BTC. Despite the volatile market conditions, Bitcoin whales are clearly acting on these price fluctuations.

The trend marks a significant rebound after a sharp decline in Bitcoin’s price. Prior to December, Bitcoin saw a 7% drop, leading to a temporary halt in whale accumulation. The increase in whale Bitcoin holdings now reflects a more confident outlook. Darkfrost notes that this behavior is usually seen during market corrections and that whales tend to accumulate when prices are lower.

The last recorded whale accumulation occurred in April 2025. At that time, the market had experienced a large correction, with Bitcoin’s price falling below $80,000. However, this accumulation helped fuel a recovery, pushing Bitcoin’s price from $76,000 to an all-time high above $126,000. The return of buying activity now, even with Bitcoin still down by 46% from its ATH, signals that whales see this as a favorable accumulation zone.

Darkfrost argues that Bitcoin price is currently undervalued, which has led to increased buying pressure from whales. He believes that these investors are positioning themselves for future gains once market conditions improve. However, he also pointed out that, despite the growing demand, market forces are still influencing prices in the short term.

Bitcoin Faces Continued Sell-Off Pressure

Despite the increased whale activity, Bitcoin continues to face selling pressure. Darkfrost highlighted that while demand for Bitcoin remains strong, sell-offs are still affecting the market. Bitcoin’s price has been fluctuating between $66,615 and $68,434 over the past 24 hours, indicating ongoing uncertainty. As the market consolidates, traders are keeping a close eye on the broader trend.

In the midst of this, firms like Michael Saylor’s Strategy Inc are continuing to show support for Bitcoin. While some experts point to a crypto winter, Saylor remains confident in Bitcoin’s long-term potential. The firm’s continued interest in Bitcoin reinforces the belief that the cryptocurrency will eventually overcome current price challenges.

At the time of writing, Bitcoin’s price was $67,469.58, reflecting a 0.44% drop in the last 24 hours. As the market remains volatile, it remains to be seen whether whale accumulation will continue to drive Bitcoin’s price upward.

Base, the Ethereum Layer 2 blockchain solution developed by Coinbase, is making a significant strategic shift by moving away from reliance on Optimism’s OP Stack.

Optimism’s OP token plunged 7% following the news.

Initially built on Optimism’s OP Stack, Base has decided to transition to its own codebase to gain greater control over its infrastructure and streamline upgrades. This move is expected to double the pace of its major upgrades to approximately six per year.

According to a blog post, the protocol will consolidate upgrades and changes internally, while continuing to collaborate with Optimism as an OP Enterprise client for support during the transition.

Optimism’s OP Stack is widely used by Layer 2 solutions, and Base’s transition might prompt similar moves by other industry players. Base is the largest Layer 2 by total value locked, with nearly $3.9 billion, according to DeFiLlama.

This article was generated with the assistance of AI workflows.

COIN gained in post‑Q4 earnings as 2025 volume jumped 156% despite Wall St skepticism.

Coinbase Global Inc. Chief Executive Officer Brian Armstrong has attributed Wall Street’s skepticism of the cryptocurrency exchange to a broader pattern of industries resisting disruptive technologies, according to statements the executive shared on social media following an analyst session.

Coinbase total volume continues to tip upward

Armstrong responded to questions about why traditional financial institutions continue to misunderstand Coinbase’s business model, comparing crypto skeptics to historical examples of incumbent industries dismissing new competitors. The CEO referenced the comparison between legacy taxi services and ride-sharing platforms as an analogy for the current dynamic between traditional finance and cryptocurrency firms.

According to Armstrong’s statements, five of the globally systemically important banks (GSIBs) have initiated partnerships with Coinbase, and approximately 50% of major financial institutions are actively engaging with cryptocurrency services. The remaining institutions have been slower to adopt the technology, Armstrong said.

The company reported total trading volume growth of 156% year over year in its fourth quarter and full-year earnings report. Coinbase’s crypto trading market share doubled in 2025, and assets on the platform have tripled over the past three years, according to the company’s financial disclosures.

Armstrong highlighted that Coinbase’s GAAP net income includes unrealized gains and losses on cryptocurrency holdings, suggesting investors examine adjusted net income metrics instead. By that measure, the company remained profitable in the most recent quarter despite market headwinds, the CEO stated.

The cryptocurrency exchange now operates 12 products each generating over $100 million in annualized revenue, according to Armstrong. Both USDC, a stablecoin product, and Coinbase One, a subscription service, reached all-time highs. Armstrong characterized this diversification as evidence the company has reduced its dependence on trading fee revenue.

The CEO told investors to evaluate companies based on stated objectives and execution results, noting Coinbase has delivered consistent financial performance for three consecutive years. Armstrong cited improving regulatory clarity as a favorable factor for the industry’s growth, along with increasing participation from governments, institutions, and retail investors.

Armstrong concluded that Coinbase remains well-positioned to benefit from ongoing transformation in the financial system, describing the company as underestimated by market consensus. The executive suggested this gap between market perception and company performance represents an opportunity for investors.

Wallet infrastructure firm Kresus Labs has raised approximately 18 billion won ($13 million) in investment from Hanwha Investment & Securities, one of South Korea’s largest financial institutions.

The investment follows a memorandum of understanding signed in December at Abu Dhabi Finance Week and is aimed at expanding Kresus’ enterprise digital wallet infrastructure, real-world asset (RWA) tokenization platforms and onchain financial workflows.

The wallet and blockchain infrastructure firm develops digital asset tools for both consumers and institutions, including “seedless” wallet recovery technology and multi-party computation (MPC)-based security systems.

Seedless recovery refers to the means of restoring access to a digital asset stored in a wallet without having to use the traditional stream of 12-24 random words, which could prove a barrier to entry for some.

Kresus also operates wallet infrastructure and tokenization platforms designed to meet institutional compliance and operational requirements.

Hanwha plans to use Kresus’ technology to enhance its client-facing digital asset services and to develop tokenized versions of traditional financial products. For established financial firms, wallet security and compliant tokenization frameworks remain key barriers to deeper engagement with blockchain-based markets.

The raise underscores how capital continues to flow into infrastructure providers even when broader crypto markets are volatile. Rather than backing speculative tokens, institutions are increasingly targeting custody, security and tokenization layers that can plug into existing financial systems.

A relatively unknown crypto trader gained $7 million from shorting ETH while major investors suffered huge losses.

An anonymous trader known only as 0x58bro has accumulated $7 million in unrealized profits by shorting Ethereum (ETH) and a handful of other cryptocurrencies, according to data from on-chain intelligence platform Arkham.

What’s noteworthy about their success is that it has come at a time when several high-profile crypto personalities have suffered eight-figure losses betting on price increases.

The Quiet Whale Swimming Against the Current

Despite holding a portfolio valued at just under $13 million, 0x58bro maintains a minimal social media presence with just 1,300 followers on X. Arkham’s analysis shows the trader has generated the bulk of his profits from two positions: a $3.7 million gain shorting ETH and $1.45 million from shorting ENA, the governance token of Ethena Labs.

The trader’s wallet composition also revealed a strategic approach to the current market volatility. They hold over $7.5 million in Aave’s interest-bearing ETH token (aETHWETH) and $5 million in Aave’s USDC deposit token (aETHUSDC), suggesting they have positioned capital to earn yield while maintaining the flexibility to deploy it against further downside.

A smaller position of 10 million HANA tokens, currently worth close to $353,000, represents their only significant long exposure.

The timing of these short positions has proven critical, with Ethereum struggling to maintain momentum in recent weeks and prices hovering around the $2,000 psychological support level.

Market Backdrop Shows Leverage Risks and Speculation Cycles

While 0x58bro is profiting from market declines, other traders have faced catastrophic losses attempting to catch a falling knife. On-chain data shows that Machi Big Brother, a well-known crypto personality once worth nearly nine figures, has seen his Hyperliquid account value fall below $1 million. To meet margin calls on his long positions, he was forced to tap into PleasrDAO treasury funds deposited five years ago, with his total losses now standing at $28 million.

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The contrast extends to institutional players as well. For instance, Trend Research, the trading firm led by Liquid Capital founder Jack Yi, fully exited its Ethereum positions last week after accumulating about $1.34 billion in ETH at an average entry of $3,180. The exit locked in losses of approximately $869 million, according to Arkham data, coming just days after Yi publicly predicted ETH would reach $10,000.

While Trend Research was forced to unwind what was once Asia’s largest ETH long position, on-chain data from CryptoQuant shows that wallets with no history of outflows holding at least 100 ETH, known as “accumulation addresses,” are still buying through the downturn. These addresses now hold around 23% of Ethereum’s circulating supply and have maintained their accumulation even when prices were trading below their average cost basis.

Whether 0x58bro will maintain his short positions or join the accumulating addresses betting on a rebound remains unknown. But for now, the trader with 1,300 followers has outperformed an industry of influencers with millions watching their every move.

TLDR:

• Shielded Labs launched Partner Support Services to diversify funding beyond its existing donation-based revenue model. 
• The NEAR Foundation became the first partner, covering past work and ongoing technical and strategic Zcash support. 
• NEAR Intents has made it easier for users to acquire ZEC directly without depending on centralized crypto exchanges. 
• Shielded Labs is already in talks with additional teams exploring similar advisory and ecosystem coordination agreements.

Shielded Labs has introduced a new Partner Support and Advisory Services initiative to diversify its funding. The organization, which backs long-term Zcash development, previously relied solely on donations.

Under the new program, external teams building on or integrating with Zcash can engage Shielded Labs directly. Services include technical support, advisory work, and ecosystem coordination. The NEAR Foundation is the first confirmed partner under this arrangement.

Shielded Labs Expands Revenue Model Through Ecosystem Partnerships

Shielded Labs has structured the new initiative to serve teams working through integrations, network upgrades, and related development efforts.

The program also offers advisory input based on direct experience with the Zcash protocol, community, and governance process. This creates a clearer path for external teams to engage with Zcash more efficiently.

The initiative also aims to reduce friction for builders entering the Zcash ecosystem. Teams that previously had no formal channel to engage Shielded Labs now have a direct route.

This approach helps ensure that new integrations align naturally with the broader ecosystem’s direction and standards.

Partner Services does not replace Shielded Labs’ core technical mission. Rather, it runs alongside it as a supplementary revenue stream.

The organization stated that its primary focus remains building and supporting technology that strengthens Zcash over the long term.

Shielded Labs confirmed it is already in discussions with additional teams considering similar engagements. Organizations interested in exploring collaboration are encouraged to contact the team directly, according to the announcement.

NEAR Foundation Becomes First Partner Under the New Program

Shielded Labs and the NEAR Foundation have formalized an agreement that covers both past contributions and future work.

Early collaboration involved communications and awareness strategy around Zcash’s initial integration into NEAR Intents.

Shielded Labs also helped organize the NEAR Intents hackathon and provided similar coordination support for integrations with Rhea Finance and Templar Protocol.

NEAR Intents has been noted as a meaningful development for Zcash, making it easier for users to acquire ZEC without relying on centralized exchanges.

Wallet teams, including Zashi, have since brought NEAR Intents integrations into mobile applications independently. These developments expanded access to ZEC for a broader user base.

As part of the ongoing agreement, Shielded Labs will continue providing technical, strategic, and ecosystem support to the NEAR Foundation.

This also covers teams building use cases around NEAR Intents. Stakeholder engagement, education, and coordination remain central components of the continued work.

On the technical side, Shielded Labs is exploring ways to simplify implementation for partners through targeted guidance and coordination.

Advisory input on security and privacy improvements is also part of the scope as new use cases around NEAR Intents continue to develop.

Arkham Intelligence estimates cumulative trading losses at $28 million.

Machi Big Brother is known for taking massive, highly leveraged long positions in several tokens on the decentralized exchange Hyperliquid, which has led to significant, high-profile liquidations.

Recent volatile months have massively drained his remaining capital.

Fortune Shrinks

Blockchain data shared by Arkham Intelligence revealed that Machi Big Brother’s Hyperliquid HL account value has fallen below $1 million. The data indicates the Taiwanese-American entrepreneur and former musician, whose real name is Jeffrey Huang, added margin to recent Hyperliquid long positions by drawing from the PleasrDAO treasury, funds that were deposited roughly five years ago.

Arkham Intelligence reports that around five months ago, Machi Big Brother’s net worth was close to nine figures. Since then, his holdings have witnessed a steep fall.

The on-chain tracking firm estimates his cumulative trading performance at a loss of $28 million. The movements were identified through wallet activity linked to Machi Big Brother and the PleasrDAO treasury.

Controversies

Machi Big Brother has been one of the controversial figures in crypto who is known for massive gains, heavy losses, and constant reinvention. He entered the space around 2017, launching Mithril (MITH), a “social mining” project that rewarded users with tokens. The project raised about $13 million, but the token collapsed roughly 80% within months.

He later joined Formosa Financial, which helped raise around 44,000 ETH, then worth about $37 million. About 22,000 ETH later disappeared from the treasury and were never recovered. In 2020, he moved aggressively into DeFi, forking Compound to create Cream Finance. The protocol suffered multiple exploits, and total losses surpassed $192 million.

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He continued launching fast-moving forks such as Mith Cash, Wifey Finance, and Typhoon Cash, many of which failed within weeks. From 2021 to 2023, he became a dominant NFT player and amassed more than 200 Bored Ape Yacht Club NFTs worth over $9 million at the peak.

He later sold more than 1,000 NFTs in a short period, which crashed floor prices in what became known as the “Machi Dump.” In 2022, on-chain investigator ZachXBT accused him of embezzling 22,000 ETH and leaving multiple failed projects behind. Machi responded with a defamation lawsuit in Texas, which ended quietly without a ruling.

In 2024, he launched the Boba Oppa meme coin on Solana. He raised over $40 million before the token dropped sharply.

Coinbase’s Ethereum layer-2 network, Base, is changing the technology that powers it, stepping back from relying on Optimism’s OP Stack, the toolkit it originally launched on.

In a blog post titled “The Next Chapter for Base,” the team said it plans to take more control over its own code and infrastructure. Instead of depending on multiple outside teams for key upgrades and changes, Base will consolidate everything into a Base-managed codebase.

In simple terms, Base was built using Optimism’s technology, but now it wants to steer more of its own ship. Optimism is a layer-2 blockchain on top of Ethereum that aims to reduce settlement times and transaction costs.

Base launched in 2023 and quickly became one of the most widely used Ethereum layer-2 networks, with $3.85 billion locked in the protocol today. When the network went live, the Optimism and Base teams shared that Base could earn up to approximately 118 million OP tokens over six years. It is unclear as to what that means for that agreement.

The OP token is down 4% over the past 24 hours following the announcement.

The team said that the change doesn’t mean Base is cutting ties with Optimism entirely. The company said it will still work with Optimism for support and will remain compatible with OP Stack standards during the transition. For everyday users and developers, nothing should immediately change.

The team said the shift is happening because, if it controls its own stack, Base can ship upgrades faster and simplify how the network operates behind the scenes, aiming to double its pace of major upgrades to about six per year.

For now, the transition is mostly technical.

“This unification does not mean Base will be built in isolation. The protocol remains public and specified in the open, and alternative implementations are welcome and encouraged,” the team wrote in their blog post.

“We’re grateful for our three-year partnership with Base, and proud to have helped it become one of the most successful Layer 2 deployments in history,” an OP Labs spokesperson told CoinDesk.

“Our focus remains on delivering enterprise-grade blockchain infrastructure to our ecosystem, and we will continue to serve Base as an OP Enterprise customer while they build out their independent infrastructure.”

UPDATE (Feb. 18, 2026, 18:06 UTC): Adds OP Labs statement + background info on 118M OP token agreement.

Read more: Coinbase Officially Launches Base Blockchain in Milestone for a Public Company

EVMbench, a benchmarking tool, is set to enhance blockchain security by measuring the capabilities of AI agents in detecting, patching, and exploiting vulnerabilities in smart contracts. This new tool underscores the growing role of artificial intelligence in enhancing the security of decentralized finance (DeFi) ecosystems.

EVMbench employs historical vulnerabilities and a Rust-based harness to evaluate AI performance. At the forefront is GPT-5.3-Codex, an AI model developed by OpenAI, which achieved a score of 72.2% in exploit-mode evaluations.

EVMbench’s evaluation is comprehensive, utilizing 120 curated vulnerabilities from over 40 audits. These include scenarios provided by Tempo L1, which focuses on payment-oriented evaluations.

The tool also benefits from Paradigm’s expertise, which provides domain knowledge and quality control. This collaboration ensures the accuracy and reliability of EVMbench’s evaluations.

This article was generated with the assistance of AI workflows.

Hyperliquid has launched the Hyperliquid Policy Center in Washington, D.C., to advocate for clearer regulations for decentralized finance (DeFi). The new nonprofit aims to focus on DeFi regulation and perpetual derivatives while engaging lawmakers and regulators. With prominent crypto lawyer Jake Chervinsky at the helm as CEO, the center plans to provide advocacy and research around policy issues impacting the decentralized financial space.

The initiative, funded by a $28 million contribution from the Hyper Foundation, aims to represent Hyperliquid’s ecosystem in policy discussions. The launch comes at a critical time when U.S. lawmakers are considering the future of blockchain technology and decentralized markets. With the financial markets shifting toward blockchain infrastructure, the new policy center seeks to address the gaps in U.S. regulations regarding decentralized systems.

Jake Chervinsky Leads the Hyperliquid Policy Center’s Efforts

Jake Chervinsky, a well-known advocate for DeFi policy, will lead the Hyperliquid Policy Center. He emphasized that the center is an independent organization focused on research and advocacy. The policy center’s mission is to ensure that DeFi can continue to thrive within the U.S. financial system. Chervinsky pointed out that while financial markets are increasingly moving to public blockchains, regulators have yet to create rules to accommodate decentralized systems like Hyperliquid.

1/ I am proud to announce the launch of Hyperliquid Policy Center, where I will serve as CEO.

HPC is an independent research and advocacy organization dedicated to ensuring that DeFi can flourish in the United States.

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The future of finance will be decentralized. https://t.co/ObDFGsjlwj

— Jake Chervinsky (@jchervinsky) February 18, 2026

He also noted that DeFi platforms like Hyperliquid face regulatory challenges that were not foreseen in traditional financial laws. Hyperliquid itself operates on a public, permissionless blockchain and has grown to rival centralized exchanges in terms of liquidity. According to Chervinsky, current U.S. regulations do not fully align with decentralized technologies, which creates regulatory uncertainties.

Chervinsky explained that the Hyperliquid Policy Center will work directly with U.S. lawmakers and regulators to establish clearer rules for blockchain-based financial infrastructure. The goal is to ensure that U.S.-based companies can innovate and operate in the decentralized finance space without facing regulatory hurdles that could stifle growth.

Funding and Support from the Hyper Foundation

To support its efforts, the Hyper Foundation has contributed 1 million HYPE tokens, valued at $28 million. These tokens will be unstaked immediately and will help fund the creation of the Hyperliquid Policy Center. The foundation emphasized that this contribution demonstrates its commitment to the long-term success of the DeFi ecosystem in Washington, D.C.

The Hyper Foundation’s contribution not only helps launch the policy center but also ensures that the community has a voice in regulatory discussions. The foundation aims to help bridge the gap between the DeFi sector and policymakers. Through its contribution, the foundation hopes to elevate the discussion about decentralized finance at the federal level.

As part of its mission, the policy center will produce technical research, publish commentaries on proposed regulations, and answer questions related to decentralized markets. The center will also serve as a resource for lawmakers and regulators to better understand the technical aspects of DeFi.

The Policy Center’s Team and Focus Areas

The Hyperliquid Policy Center has also introduced its founding team, which includes Brad Bourque and Salah Ghazzal. Bourque, the new Policy Counsel, has previously worked with Sullivan & Cromwell LLP, bringing legal expertise to the center’s efforts. Ghazzal, the Policy Director, has experience working as a policy lead at Variant, further strengthening the team’s understanding of regulatory affairs.

The team will focus on several key areas, particularly decentralized finance and perpetual derivatives. They plan to contribute to ongoing policy debates and engage in discussions on how existing regulations apply to decentralized technologies. In addition to advocacy, the center will provide technical insights to help inform policymakers about how DeFi platforms operate and the risks involved.

The center also plans to dive deep into complex issues tied to decentralized markets. This includes providing feedback on proposed rules and offering recommendations for how regulations can be adapted to the evolving DeFi landscape.

The Hyperliquid Policy Center and the CLARITY Act

The launch of the Hyperliquid Policy Center coincides with ongoing discussions around the CLARITY Act, which is currently stalled in the Senate Banking Committee. The bill aims to divide oversight of digital assets, classifying them either as digital commodities under the CFTC or as investment contract assets under SEC rules. While the bill has faced delays, including the cancellation of markup sessions scheduled for January, it remains a key piece of legislation for the future of blockchain regulation in the U.S.

Jake Chervinsky has been vocal in his support for the CLARITY Act, calling for stronger protections for DeFi platforms during the legislative process. He has warned that the DeFi community needs clear protections in place for the industry to continue developing and evolving. Chervinsky has also emphasized the importance of safeguarding developers from legal liabilities while ensuring that DeFi platforms comply with applicable regulations.

As the Hyperliquid Policy Center begins its advocacy efforts, it will likely play a key role in pushing for stronger safeguards and clearer rules for the DeFi sector as the CLARITY Act moves forward.

The Future of DeFi Regulation and Advocacy

The Hyperliquid Policy Center’s launch highlights the growing need for clear regulatory frameworks around decentralized finance in the United States. As more financial services move to blockchain-based platforms, lawmakers will face increasing pressure to address the legal and regulatory challenges that these technologies present.

By focusing on education and advocacy, the Hyperliquid Policy Center aims to fill a critical gap in the current regulatory landscape. Its work will not only support the interests of the Hyperliquid ecosystem but also help shape the future of DeFi regulation in the U.S. Through its leadership and research, the center hopes to ensure that DeFi continues to thrive while operating within a clear and fair regulatory framework.