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Haseeb says regulation and scams did not kill consumer web3 users simply did not want crypto games or media.

Financial crypto scaled bottom up through real demand across Bitcoin stablecoins DeFi NFTs prediction markets and RWAs.

a16z says crypto is in a financial phase with ownership infrastructure first and clearer token rules before consumer apps.

Haseeb, Managing Partner at Dragonfly, rejected claims about consumer web3 failure. The exchange involved Chris from a16z crypto and focused on gaming, media, regulation and adoption. The discussion examined why financial crypto scaled while non-financial applications struggled, according to both participants.

Haseeb Disputes Regulation as the Core Explanation

According to Haseeb, arguments blaming regulation and scams for failed web3 gaming and media do not hold. He questioned whether figures like Gary Gensler caused those products to fail. Notably, he pointed out that financial crypto faced heavier scrutiny and more scams.

However, financial use cases still scaled, he said. Haseeb argued this contrast undermines the regulation-first explanation. He stated that consumer web3 products failed because users did not want them. He added that large amounts of capital and talent tested these ideas.

Haseeb listed crypto use cases that achieved adoption, all financial in nature. These included Bitcoin, stablecoins, Ethereum, ICOs, DeFi, NFTs, prediction markets, and RWAs. He noted that adoption happened bottom-up, based on observed user demand.

Financial Adoption Versus Consumer Experiments

Haseeb said investors discovered demand through usage, not pitch decks. In contrast, he described consumer web3 as driven by investor narratives and zero-rate conditions. He contrasted this with early Ethereum use cases outlined by Vitalik Buterin in 2014.

Those examples, he said, focused on finance, including issuance, derivatives, DAOs, savings, insurance, and prediction markets. Haseeb emphasized that finance represents a significant share of global economic activity. He also cited dissatisfaction with banking infrastructure as a driver.

Chris Frames Crypto as a Long-Term Build

Chris responded by stating that crypto currently is in a financial phase. He said blockchains introduced ownership-based coordination at internet scale. Finance, he added, served as the foundation, not the endpoint.

According to Chris, infrastructure must precede consumer categories. He compared crypto’s path to the early internet’s development. He also cited trust erosion from scams and regulatory pressure as limiting token-based communities.

Chris said a16z crypto has pushed for clearer token regulation for over five years. He referenced the GENIUS framework as validating that approach. He added that market structure legislation could follow a similar path.

The post Managing Partner at Dragonfly Challenges Web3’s Non-Financial Case appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

DALLAS, Feb. 9, 2026 /PRNewswire/ -- Cango Inc. (NYSE: CANG) today released a letter to shareholders highlighting its strategic transformation and roadmap to evolve from a global Bitcoin miner into an AI compute infrastructure platform.

Throughout the past year, Cango executed a disciplined entry into the industry, balancing speed with operational prudence to build its position as a leading Bitcoin miner with a global footprint across four key regions. Key commitments were delivered, including acquiring and enhancing hashrate efficiency of 50 EH/s of on-rack machines, adopting a strategic treasury approach, divesting legacy operations, securing 50 MW of energy infrastructure, and completing the transition to a direct NYSE listing. These milestones established the foundation for Cango's transition from hosted hashpower toward a global distributed inference compute grid.

In response to market conditions, Cango made a treasury adjustment to strengthen the balance sheet and reduce financial leverage, creating increased capacity to fund strategic expansion into AI compute infrastructure.

The Strategic Logic behind the Proposed Pivot

Cango's global mining operations, operational experience, and infrastructure provide a practical pathway toward AI compute objectives. The rapidly growing AI era continues to face a "Power Gap"—a disconnect between rising compute demand and existing grid capacity. By leveraging globally accessed, grid-connected infrastructure, Cango is positioned to deliver flexible, high-performance compute capacity to meet long-tail inference demand through a scalable business model.

This transition follows a disciplined three-phase roadmap:

Near Term: Standardization and efficient deployment of modular, containerized GPU nodes for rapid deployment, offering on-demand compute capacity.

Medium Term: Deployment of a proprietary software platform for orchestration, evolving Cango into an integrated, enterprise-grade network enabler.

Long Term: Global scaling into a mature AI infrastructure platform, activating underutilized power to establish durable, recurring revenue streams.

To accelerate this transition, Cango has established EcoHash Technology LLC, a wholly-owned subsidiary based in Dallas, Texas, dedicated to advancing AI compute initiatives under the leadership of a newly appointed AI CTO.

The Company also positions itself as an "Ecosystem Enabler" for the wider mining industry, providing a practical technical path to adapt existing energy infrastructure for AI operations with manageable upfront commitment.

Cango acknowledges this shift is a multi-year journey, but believes its infrastructure and operational experience provide a clear path to open new, durable revenue streams while complementing its core mining operations.

View original content: https://ir-image.cangoonline.com/ir-documents/2026-02-09_Cango-Inc-Releases-2025-Letter-to-Shareholders.pdf

Investor Relations Contact

Juliet YE, Head of Communications

Cango Inc.

Email: ir@cangoonline.com 

Disclaimer: Any information written in this press release does not constitute investment advice. Crypto Front News does not, and will not endorse any information about any company or individual on this page. Readers are encouraged to do their own research and base any actions on their own findings, not on any content written in this press release. Crypto Front News is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release. For more details, visit our disclaimer page.

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Attackers hide malicious commands in OpenClaw skills, making normal-looking plugins steal data from users’ systems.

Base64 encoding masks harmful code, bypassing simple keyword detections like curl|bash, making threats harder to spot.

Staged delivery lets attackers update payloads quickly while keeping SKILL.md files looking safe to users and reviewers.

A major security alert has shaken the OpenClaw ecosystem, as ClawHub, its official plugin center, faces a growing supply chain poisoning threat. Security researchers at SlowMist discovered that attackers are targeting ClawHub by embedding malicious commands in seemingly legitimate skills. 

Consequently, both developers and users face potential data theft and system compromise. The attack leverages ClawHub’s weak review mechanisms, which allow harmful skills to slip past scrutiny.

As per the report, in total, Koi Security identified 341 malicious skills out of 2,857 scanned, highlighting a classic plugin market poisoning pattern. Skills in OpenClaw are structured as “skill folders” under the AgentSkills specification, with SKILL.md files serving as the core execution entry point. However, these Markdown files are not reproducible artifacts; they act more like instructions that can be directly executed. Hence, attackers can transform harmless-looking instructions into executable commands.

How the Attack Works

A prime example involves the popular “X (Twitter) Trends” skill. On the surface, it appears normal, but it hides a Base64-encoded backdoor. Base64 encoding obscures malicious commands, making SKILL.md seem like a configuration or installation guide. Consequently, coarse keyword-based defenses, such as curl|bash detection, often fail.

Once decoded, the command downloads and executes a first-stage program named q0c7ew2ro8l2cfqp from 91.92.242.30. This program subsequently retrieves a second-stage sample, dyrtvwjfveyxjf23, which performs the real malicious activity. This phased delivery reduces exposure and allows attackers to update payloads without altering the visible SKILL.md.

Dynamic analysis shows the second-stage sample masquerades as a system dialog box to steal user passwords. Valid credentials trigger local file collection from Desktop, Documents, and Downloads. Sensitive files, including txt and pdf formats, are compressed and sent to the C2 server.

The post OpenClaw’s ClawHub Faces Supply Chain Poisoning Threats appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

c-node argued DeFi mainly serves crypto holders seeking self custody and dismissed stablecoin yield as non DeFi.

Vitalik said algorithmic stablecoins qualify as DeFi by transferring risk and enabling market based stability.

Buterin stressed overcollateralized and diversified backing improves stablecoin safety beyond simple yield lending.

c-node questioned whether DeFi has value beyond crypto trading. The exchange involved Ethereum co-founder Vitalik Buterin and focused on stablecoins, risk design, and user custody. The discussion also expanded into private messaging habits and platform choices.

DeFi, Self-Custody, and the Stablecoin Dispute

According to c-node, DeFi only matters for users holding crypto positions who want financial services without losing self-custody. c-node added that most other DeFi uses resemble imitations without real necessity. The post also dismissed U.S. dollar stablecoin yield products, stating they do not qualify as DeFi.

Responding on X, Vitalik Buterin challenged that framing by focusing on algorithmic stablecoins. He stated that algorithmic stablecoins qualify as genuine DeFi, even when liquidity structures appear complex. Buterin explained that counterparty risk transfer remains a key feature for users.

He added that an ETH-backed algorithmic stablecoin would still provide value. This would apply even if most liquidity came from holders managing offsetting positions elsewhere. According to Buterin, access to market-based risk handling matters.

Collateral Design and Risk Structure

Buterin also addressed stablecoins backed by real-world assets. He said these systems can still improve user risk if designed carefully. Specifically, he highlighted overcollateralization and diversification as necessary conditions.

He explained that no single backing asset should exceed the system’s overcollateralization ratio. Under that structure, the stablecoin could remain collateralized even if one asset failed. Buterin described this as a meaningful improvement for holders.

However, he excluded current yield-focused stablecoin deposits from this definition. He stated that placing USDC into lending protocols does not meet these standards.

Messaging Habits and Platform Choices

In a separate post, Buterin discussed private messaging behavior. He noted that some users keep Signal as a clutter-free inbox, while using Telegram for broader communication. This habit, he said, discourages full migration.

To manage this, he suggested using Signal’s folder feature. He also recommended apps like Session or Simplex for high-priority messages. Additionally, he encouraged users to ask Telegram contacts to switch conversations to Signal.

The post Vitalik Buterin Pushes Back on DeFi Use and Stablecoin Claims appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

Canton Network settles approximately $350B daily and supports $6T+ in tokenized assets for regulated institutions.

Built for privacy and compliance, Canton uses Daml smart contracts with atomic settlement and regulator access.

JPMorgan, DTCC, Franklin Templeton, and others run live activity on Canton with 700k+ daily transactions.

Wall Street already runs on a blockchain most investors never see. According to Delphi Digital on X, the Canton Network settles about $350 billion daily and supports over $6 trillion in tokenized real-world assets. Built for regulated finance, the network already hosts live activity from firms including JPMorgan, DTCC, and Franklin Templeton.

What Canton Network Is and How It Works

Canton Network is a Layer 1 blockchain developed by Digital Asset for financial institutions. Unlike public blockchains, it prioritizes privacy, compliance, and rapid settlement. Transactions remain visible only to involved counterparties, while the network maintains a synchronized shared ledger.

This privacy operates at the smart contract level using Daml. The language embeds access and authorization rules directly into each transaction. As a result, two firms can settle trades without exposing details to the broader network. Regulators, however, retain appropriate access under existing oversight requirements.

Settlement also occurs in a single atomic step. Both sides exchange assets simultaneously, eliminating settlement gaps. This structure reduces counterparty risk, especially in repo markets, where large volumes move daily across traditional intermediaries.

Institutions Already Running Live Activity

Daily repo volumes on Canton reached $350 billion, rising from $280 billion in August 2025. Broadridge first deployed its Distributed Ledger Repo platform fully on the network. Repo transactions allow institutions to borrow short-term using Treasury collateral.

DTCC is working with Digital Asset to tokenize U.S. Treasury securities. The effort follows an SEC No-Action Letter and targets an MVP in the first half of 2026. DTCC also holds a co-chair role on the Canton Foundation alongside Euroclear.

JPMorgan’s blockchain unit, Kinexys, announced plans to issue JPM Coin natively on Canton. Shortly after, Fireblocks integrated the network and joined as a Super Validator.

Scale, Validators, and Network Activity

Canton processes over 700,000 transactions daily across more than 600 validator nodes. Validators include regulated firms such as HexTrust and Tharimmune. Tharimmune became the first NASDAQ-listed Super Validator, backed by a $545 million private placement.According to Delphi Digital, Canton carries more than $6 trillion in tokenized assets. The network operates without public block explorers and focuses on institutional use cases rather than retail access.

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AI.com domain sold for $70M in cryptocurrency and will debut with a Super Bowl commercial.

The platform introduces a private consumer AI agent for tasks across apps and services.

The project links Crypto.com leadership with a new consumer-focused AI initiative.

AI.com marks a new phase in consumer artificial intelligence after a record-breaking $70 million domain acquisition. The platform will introduce a personal AI agent designed to operate across apps and services for everyday users.

Record Domain Deal and Strategic Branding

AI.com became the most expensive disclosed domain purchase after Kris Marszalek acquired it for about $70 million. The Financial Times reported that the transaction was completed entirely using cryptocurrency through domain broker Larry Fischer.

Marszalek described the purchase as a long-term branding decision rather than a speculative resale asset. He positioned AI.com as a trust-building entry point for users in a fast-moving artificial intelligence market.

https://twitter.com/WuBlockchain/status/2019982367159697738?s=20

The rollout is scheduled to coincide with a Super Bowl commercial broadcast on NBC. This approach mirrors Crypto.com’s earlier strategy of using major sports events to introduce new technology brands to global audiences.

Social media reaction reflected mixed sentiment toward the announcement. Tweets and Stockwits posts noted the scale of the domain investment and its link to consumer-facing AI products.

Consumer AI Agent and Product Architecture

AI.com announced the launch of a private and personal autonomous AI agent for consumers. The agent is designed to handle actions such as messaging, organizing work, and executing tasks across connected applications.

According to the company, each agent operates in a secure and segregated environment.
User data is encrypted with individual keys, and permissions remain under user-defined capability limits.

The platform allows users to create an AI agent in about 60 seconds without technical knowledge. Free access is available at launch, while paid subscription tiers will offer expanded features and higher token limits.

Tweets promoting the product emphasized its ability to trade stocks and automate workflows. The company stated that improvements made by individual agents will be shared across the network of users.

Corporate Context and Market Response

Marszalek will continue serving as CEO of both AI.com and Crypto.com. He said the objective is to mainstream consumer AI agents in the same way cryptocurrency reached mass adoption.

Crypto.com previously signed a $700 million naming-rights agreement for a Los Angeles stadium in 2021. The firm has also entered high-profile partnerships, including ventures linked to Trump Media & Technology Group.

The company has faced criticism from some users on online forums. A Reddit post alleged that validator voting power was used to restore burned tokens, which could dilute CRO holders.

Regulatory scrutiny has also followed Crypto.com in Europe. In March 2024, Dutch authorities fined its operator €2.85 million for offering services without proper registration.

AI.com stated that future offerings may include financial service integrations and agent marketplaces. The company also referenced plans for co-social networks linking human users with autonomous agents.

The Super Bowl launch positions AI.com as a consumer gateway into agent-based artificial intelligence. The strategy connects large-scale branding with a product built for routine digital tasks and privacy-focused control.

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Illinois proposes a five-year Bitcoin holding mandate under HB1844 to support a long-term fiscal strategy.

The bill requires multisignature cold storage to secure state-held Bitcoin reserves.

Public Bitcoin donations are permitted, expanding community participation in state digital asset policy.

Strategic Bitcoin Reserve Act enters the legislative stage as Illinois proposes a structured framework for Bitcoin custody, long-term holding, and public participation at the state level.

Illinois Positions Bitcoin as a Long-Term State Asset

The Strategic Bitcoin Reserve Act was introduced through House Bill 1844 by State Representative John M. Cabello. The proposal outlines Illinois’ plan to formally hold Bitcoin as part of its state-level financial strategy.

It places Illinois alongside states already exploring digital assets within public financial frameworks. The bill establishes a mandatory five-year holding period for any Bitcoin acquired by the state.

https://twitter.com/CryptoPatel/status/2019992015929299342?s=20

This requirement frames Bitcoin as a long-term reserve rather than a short-term trading instrument. Supporters view the structure as a response to inflation pressures affecting traditional state reserves.

Public discussion around the bill increased following commentary shared on X by policy and crypto observers. Several posts focused on Illinois aligning fiscal planning with decentralized asset ownership models.

These reactions reflect growing attention toward state-managed Bitcoin initiatives across the country.

Security Standards and Custody Framework Defined in HB1844

The Strategic Bitcoin Reserve Act includes strict custody rules centered on cold storage systems. All Bitcoin held under the act must be stored offline using multisignature authorization structures.

This design requires multiple approvals for transactions, reducing single-point access risks.

The custody framework mirrors practices already used by institutional digital asset custodians.

Cold storage requirements aim to protect state-held Bitcoin from cyber threats and unauthorized access. Lawmakers emphasized asset security as a foundational element of public trust in digital reserves.

Discussion on X highlighted the bill’s focus on security-first custody architecture. Several analysts noted the multisignature requirement as a standard aligned with institutional-grade safeguards.

These observations framed Illinois’ approach as procedural rather than experimental.

Public Participation and Broader Fiscal Context

The Strategic Bitcoin Reserve Act allows Illinois residents to donate Bitcoin directly to the state reserve. This provision enables voluntary public participation without mandating taxpayer exposure to market volatility.

It also introduces a new model of community-supported digital asset reserves. The bill presents Bitcoin as a diversification tool alongside traditional state-held assets.

Illinois faces longstanding fiscal pressures, including high debt levels and budgetary constraints. Supporters argue that diversified reserves may offer balance during periods of currency devaluation.
Posts on X referenced Illinois, following early adopters like Texas, Arizona, and Florida.
Observers noted that similar proposals could emerge as regulatory clarity continues to develop.

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XRP spot ETFs recorded $15.16 million in daily inflows, led by Bitwise and Franklin funds.

Analyst charts show XRP trading within a long-term rising channel with defined retracement levels.

AIcom’s $70 million crypto-paid acquisition reflects capital alignment between AI and digital assets.

XRP sits at the center of renewed institutional focus as ETF inflows accelerate, while capital movement across crypto and AI signals broader market positioning shifts.

AIcom Acquisition Reflects Capital Rotation Toward Emerging Technologies

XRP market activity coincides with a major technology-focused crypto transaction reported by the Financial Times. Crypto.com co-founder and CEO Kris Marszalek acquired the AIcom domain for about $70 million.

The transaction stands as the largest disclosed domain name deal on record and was settled entirely in cryptocurrency. Marszalek plans to launch a consumer-facing AI platform under the AIcom brand.

https://twitter.com/Xfinancebull/status/2020060029961793737?s=20

The platform is expected to feature an AI agent capable of messaging, app usage, and stock trading. Promotion plans reportedly include a Super Bowl advertisement, signaling mainstream audience targeting.

The deal reflects a long-term view that artificial intelligence represents a defining technological cycle. Capital allocation through cryptocurrency highlights confidence in blockchain-native settlement for high-value transactions.

This transaction occurred as digital asset markets showed renewed institutional engagement across selected assets.

XRP Price Structure Draws Attention From Technical Analysts

XRP technical analysis gained visibility following a chart commentary shared by analyst Egrag Crypto on X. The chart tracks XRP price behavior from 2013 through projected levels extending toward 2030.

https://twitter.com/egragcrypto/status/2019999272528220586?s=20

It presents price action within a rising channel defined by long-term support and resistance boundaries. A 21-period exponential moving average appears as a recurring reference point for price interaction.

Historical movements show XRP repeatedly testing and rebounding around this EMA during trend shifts. Such behavior often reflects changing short- to medium-term market positioning rather than directional certainty.

The chart also outlines projected price zones, including targets near $12 and $15. Retracement levels near $1.05 and $1.4587 are marked as potential consolidation areas.

Percentage moves displayed reflect prior volatility cycles rather than forward-looking certainty.

XRP ETF Inflows Signal Institutional Repositioning

XRP spot ETFs recorded $15.16 million in net inflows within 24 hours. The Bitwise XRP ETF accounted for $8.29 million of that daily total.

Its cumulative inflows reached $358 million, placing it among the largest XRP-focused funds. The Franklin XRP ETF followed with $3.94 million in single-day inflows.

Its cumulative total now stands at $323 million, reflecting steady participation growth.
Together, these funds contributed to rising aggregate exposure across regulated XRP investment vehicles.

Total net asset value across XRP spot ETFs has surpassed $1.04 billion. The reported XRP net asset ratio reached 1.17 percent during the same period.

Market participants note that capital movement often precedes broader sentiment alignment rather than following it.

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Google Trends data shows retail attention peaks during sharp Bitcoin price declines and rising uncertainty.

Bitcoin trades far below long-term averages, reflecting a prolonged Bitcoin Bear Market Zone.

Market commentary points to patience and stabilization rather than short-term recovery signals.

Bitcoin Bear Market Zone conditions are drawing renewed attention as Google Trends data aligns with sharp price volatility and cautious investor behavior across global markets.

Retail Search Activity Rises During Price Stress

Bitcoin Bear Market Zone dynamics became visible as Google search interest surged to its highest level this year. Search scores reached 100 during a rapid price decline from roughly $81.5k to near $60k.

This pattern reflects heightened retail attention during moments of sharp market stress. Retail investors often seek clarity when price movements accelerate within a short timeframe.

Source: X

Search activity suggests fear-driven information gathering rather than structured investment planning. Such behavior commonly appears during volatile phases across previous Bitcoin market cycles.

Market observers on X noted that spikes in online interest frequently accompany uncertainty.
These posts described rising searches as reactions to fear, uncertainty, and doubt.

The commentary framed search behavior as a response to sudden price dislocation.

Price Compression Signals Extended Bear Conditions

The Bitcoin Bear Market Zone is further reflected through the Mayer Multiple Z-Score readings. Current levels sit below minus 0.9, placing Bitcoin well under its long-term average.

Historically, similar conditions aligned with extended consolidation rather than immediate reversals. The chart structure shows muted price action following prior market peaks.

This environment limits momentum and sustains hesitation among both new and experienced participants. Price compression tends to test conviction rather than reward early positioning.

Several analysts referenced on X described this phase as slow and demanding.
Their posts emphasized absorption and stabilization rather than rapid directional moves.
Such observations align with prior prolonged bear market structures.

Sentiment Remains Muted as Conviction Is Tested

Within the Bitcoin Bear Market Zone, sentiment remains restrained across trading communities. Confidence appears limited as investors assess whether declines represent a correction or a continuation.

https://twitter.com/CryptoBull009/status/2020019781685084202?s=20

This uncertainty keeps participation cautious and trading volumes selective. Historical data shows similar zones often preceded trend changes after extended stagnation.

However, these periods rarely provide clear signals during early formation stages. As a result, many participants remain on the sidelines awaiting confirmation.

Recent X commentary described this phase as uncomfortable and quiet. Such messaging reflects long-standing behavioral patterns seen during deep Bitcoin bear cycles.

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Bitcoin’s sudden drop rattled altcoins, but the full impact may take months to show.

No major exchange collapses yet; better risk controls and automatic deleveraging help contain fallout.

Rumors blame an overleveraged Asian trading firm, but altcoin losses aren’t tied to Wintermute.

Crypto markets are bracing for aftershocks following last week’s abrupt Bitcoin-driven drop, which rattled the altcoin complex. According to Wintermute CEO Andy, while the immediate turmoil is visible, the full consequences will only surface in the coming months. 

He explained, “People do dumb shit in peak bull mania. They always do. Last time we had FTX, Celsius, and others doing all sorts of unsophisticated lending. This time we have DATs buying $SOL above $225, $ETH above $4,000 and $BTC above $100K. Those guys are shaking in their boots right now.” Hence, the market could face delayed but significant repercussions from these risky moves.

Crypto analyst Evgeny Gaevoy, known as wishful_cynic, urged caution regarding exchange collapse rumors. He highlighted that although it is possible “somebody blew up,” there is currently no evidence of broader market spillovers. 

Gaevoy compared past incidents, noting that Three Arrows Capital’s collapse after the Terra crash spread quickly through private channels, while FTX’s troubles became evident through bailout talks with Binance. However, he sees no comparable signs in today’s ecosystem, as most leverage comes from derivatives and exchanges now enforce better risk controls, including automatic deleveraging.

Rumors Point to Asian Trading Firm

The rumor mill suggests the last week’s blow-up stemmed from an Asian trading firm overleveraged on precious metals. After a margin call, the firm reportedly liquidated substantial BTC positions via IBIT ETFs. Consequently, the October 10 crash severely impacted altcoins, leaving lingering uncertainty about which firms were most affected. 

Despite this, Wintermute maintains that the firm itself was not responsible for the altcoin fallout. Andy stated, “The altcoin complex is fucked, but it’s not because of WM.”

Unlike previous cycles, most exchanges now manage leverage more transparently, mitigating catastrophic risks. Additionally, derivative-based exposure provides clearer visibility into potential losses. Moreover, automatic deleveraging ensures that individual failures do not cascade into the broader market.

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Only 8% of Bitcoin sits in legacy addresses that could be threatened by quantum tech decades from now.

Breaking Bitcoin’s encryption needs millions of qubits—current tech is far from capable.

Users can safely move coins to secure addresses; aggressive protocol changes aren’t needed yet.

Bitcoin’s cryptographic security faces growing speculation around quantum computing, but experts stress the threat is manageable, not imminent. CoinShares highlights that while Shor’s algorithm could theoretically expose ECDSA and Schnorr signatures, practical risks remain decades away. 

Approximately 1.6 million BTC, or 8% of total supply, reside in legacy P2PK addresses with visible public keys. However, only about 10,200 BTC sit in UTXOs large enough to disrupt the market if stolen. The rest remain in smaller amounts, making targeted attacks prohibitively expensive.

The conversation revolves around differentiating hype and evidence-based analysis. Bitcoin uses elliptic curve digital signatures for transaction authorization and SHA-256 hashes for protecting addresses. Quantum computers cannot modify or eliminate the supply limit of 21 million or validation directness.

Besides, modern addresses such as P2PKH and P2SH encrypt the public keys until the funds are spent. As such, the purported 25% of the Bitcoins that can be compromised in the long term are overstated, as best practices for behavioral responses can overcome temporary challenges.

Timeline and Technical Feasibility

Experts agree that breaking secp256k1 within a practical timeframe requires millions of logical qubits. “To break current asymmetric cryptography, one would need something in the order of millions of qubits. Willow, Google’s current computer, is 105 qubits,” said Ledger CTO Charles Guillemet. 

Achieving this scale remains at least a decade away. Long-term attacks on dormant P2PK coins could take years, whereas short-term mempool attacks would require impossible <10-minute computations. Additionally, even under optimistic projections, stealing coins from 32,607 individual ~50 BTC UTXOs would take millennia.

Caution Over Aggressive Interventions

Proposals for soft forks or burning vulnerable coins carry risks. Prematurely introducing quantum-resistant addresses could create bugs, undermine decentralization, or waste developer resources. 

Dr. Adam Back emphasized, “Bitcoin can adopt post-quantum signatures. Schnorr signatures paved the way for more upgrades, and Bitcoin can continue evolving defensively.” Users can voluntarily migrate funds as quantum technology progresses, making drastic interventions unnecessary.

The post Quantum Computing Poses Manageable Risk to Bitcoin Security: Coinshares appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

Bitcoin OG Garrett Jin withdraws 80,000 Ethereum from Binance as crypto markets weaken. The transfer occurred while Bitcoin fell below $71,000 and Ethereum traded under $2,100.

Market Conditions Surround the Withdrawal

Bitcoin OG Garrett Jin withdraws 80,000 Ethereum from Binance during a period of broad market stress. The transfer was valued at approximately $168 million, based on prevailing market prices. On-chain trackers reported the movement in real time.

The crypto market declined sharply during the same session. Bitcoin slipped under $71,000, while Ethereum fell below $2,100. 

CoinGecko data showed that the total market capitalization had dropped to nearly $2.4 trillion. Several traders noted Jin’s pattern of moving funds during extreme price swings. 

Large withdrawals from exchanges often attract attention as potential positioning signals. Jin previously deposited large Ethereum holdings into Binance in late 2025, according to Lookonchain. 

This earlier activity contrasts with the latest outflow. Observers viewed the shift as a change in exposure rather than a routine transaction.

The trader remains widely followed for his timing during turbulent periods. His on-chain movements are frequently monitored by analysts and retail participants. 

https://twitter.com/lookonchain/status/2019963993088217365?s=20

Each transaction becomes a data point in market sentiment discussions.

Shared Binance Address Draws Attention

Blockchain data shows Garrett Jin and Trend Research using the same Binance deposit address on the same day. Jin sent 10,000 ETH, worth about $20.4 million, to that address. 

Trend Research transferred nearly 7.989 million USDT shortly after. Bitcoin OG Garrett Jin withdraws 80,000 Ethereum from Binance while activity is clustered around this single address. 

Analysts described the pattern as unusual for separate entities managing large portfolios. Exchange routing systems may explain part of the overlap.

The address balance rose from under $25 million to more than $30 million within a short period. This increase suggested coordinated asset movement rather than isolated deposits. 

Some market participants viewed the activity as liquidity management during volatile trading hours. Others questioned whether the transfers reflected shared strategies. 

No public confirmation of collaboration has been reported. The repeated use of the address kept attention on Ethereum flows. 

Each new transaction was tracked closely by on-chain observers. The pattern added another layer to the ongoing market narrative.

Losses Among Ethereum Bulls Provide Context

Several high-profile Ethereum investors have reported heavy losses in recent months. Tom Lee of Bitmine bought more than 4.2 million ETH at an average cost of $3,854. 

Falling prices reduced the value of that position by billions. Garrett Jin swapped about 35,991 BTC for Ethereum and recorded losses above $770 million. 

He also opened a leveraged long position involving 223,340 ETH. That position was later liquidated for about $195 million.

Jack Yi of Trend Research purchased 651,000 ETH for roughly $1.46 billion at an average price of $3,300. The decline in Ethereum pushed his unrealized loss close to $680 million. 

These figures show the scale of exposure among large traders. Bitcoin OG Garrett Jin withdraws 80,000 Ethereum from Binance while still holding over 30,600 BTC. 

His Bitcoin position remains valued above $2 billion despite market weakness. The contrast reflects diversified exposure across major assets.

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Bithumb mistakenly airdropped ~620,000 BTC to 695 users, briefly crashing its BTC price to $55,000.

Exchange recovered 99.7% of BTC and will reimburse losses at 110%, plus fee waivers and bonuses.

Regulators launched probes as Bithumb adds stricter controls and a ₩100B customer protection fund.

South Korean crypto exchange Bithumb confirmed it will compensate customers after accidentally distributing 620,000 Bitcoin. The error, occurring on February 6 during a promotional airdrop, affected 695 users and temporarily triggered a major Bitcoin price drop. According to Bithumb CEO Lee Jae-won, users who sold coins at a loss will receive full reimbursement plus an additional 10%.

Details of the Airdrop Glitch and Market Impact

The mistake happened when an employee intended to distribute 2,000 KRW in rewards but mistakenly credited Bitcoin instead. Each recipient received roughly 2,000 BTC, causing some to sell immediately. 

As a result, Bithumb’s BTC price dropped to $55,000, impacting the broader market, though Bitcoin remained above $66,000 elsewhere. The company blocked accounts and halted withdrawals within 20 minutes, recovering 618,212 BTC or 99.7% of the total.

Compensation and Customer Protection Measures

Bithumb estimates total losses from panic selling at about 1 billion KRW ($680,000). The company will reimburse all affected users with 110% of losses, provide 20,000 KRW ($15) to users active during the incident, and waive trading fees for seven days. Additionally, Bithumb announced a permanent Customer Protection Fund of 100 billion KRW ($68 million) for future incidents.

Regulatory Response and System Upgrades

South Korea’s Financial Services Commission and Financial Supervisory Service are reviewing the incident. FSC Vice Chairman Kwon Dae-young led an emergency inspection on February 7, with officials from the Financial Intelligence Unit present. 

Bithumb confirmed it will implement system improvements, including multi-step payment approvals, enhanced asset verification, and AI-powered monitoring for abnormal transactions, while coordinating closely with regulators to prevent similar errors.

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ETFs, futures, and structured notes flood Bitcoin with synthetic supply, creating huge price swings.

Banks’ delta hedging can amplify both upward and downward Bitcoin moves rapidly.

Without stricter regulation, Bitcoin volatility may continue, risking another drop below $60K.

Bitcoin traders are bracing for heightened volatility as synthetic supply from Wall Street floods the market. The recent price drop follows complex instruments tied to BlackRock’s $IBIT ETF, which forced banks into rapid hedging moves.

Arthur Hayes, former CEO of BitMEX, explained, “When $BTC moves, banks have to quickly buy or sell to protect themselves, which can amplify big price swings.” This has intensified the disconnect between on-chain Bitcoin and market pricing influenced by paper assets.

Besides ETFs, structured notes, futures, options, swaps, and lending products have introduced massive synthetic Bitcoin into circulation. Jim Bianco of Bianco Research warned, “Structured notes on $IBIT flooded $BTC with synthetic supply → forced liquidations turbocharged the dump.” 

Consequently, real market demand struggles to keep pace with these financial derivatives. Moreover, the entry of institutional money has transformed Bitcoin into a pseudo-fractional reserve system. While the on-chain cap remains 21 million BTC, price discovery now largely reflects Wall Street’s synthetic printing rather than actual ownership.

How Wall Street Drives Bitcoin Volatility

Traditional finance’s involvement amplifies both downside and upside moves. Arthur Hayes noted, “Delta hedging also will amplify moves on the way up. The trend is your friend until it ain’t.” Essentially, banks create positions tied to ETFs and structured notes, then hedge dynamically, causing cascading buying or selling pressure. 

This dynamic often overrides retail or on-chain fundamentals. Additionally, the synthetic nature of these products can cause exaggerated price swings when demand mismatches with real Bitcoin liquidity.

Jim Bianco highlighted regulatory oversight as a potential stabilizer. “Wall Street's entry turned BTC into a pseudo-fractional reserve system. Fractional is inherently unstable. That’s why banks need heavy regs,” he said. However, without tighter regulation, volatility is likely to persist, and another bearish leg could push Bitcoin below $60,000, according to trader Guru.

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Key Insights

Binance Coin price faces critical support near $615, combining Fibonacci and VWAP support levels.

Oversold conditions could trigger a short-term bounce, but confirmation is needed for a reversal.

A rejection at $932 has reinforced the bearish trend, with $615 as a decisive support zone.

Binance Coin (BNB) has entered a sharp corrective phase following a recent swing high, with bearish momentum picking up across multiple timeframes. After failing to maintain upside momentum, BNB reversed lower, indicating a clear shift in the short- to medium-term market structure. The focus is now on the $615 support zone, which is shaping up to be a pivotal technical level in the near term.

The $615 region stands out as a major confluence support zone, marking a critical point for Binance Coin. This level aligns with the 0.618 Fibonacci retracement, VWAP support, and a prior value area high. Such technical factors suggest that this area could play a decisive role in determining BNB’s next major move. If the price holds at this level, it could signal a potential pause in the ongoing downtrend.

Bearish Momentum Remains Intact

Following a rejection at the $932 resistance level, the price has been under consistent bearish pressure. The failure to break above $932 has confirmed the bearish market structure, with lower highs and expanding downside candles showing aggressive selling. This behavior suggests that the current move lower is not just a minor pullback but part of a broader corrective phase within the prevailing market cycle.

Source: TradingView

BNB is now entering oversold territory, with momentum indicators reflecting extreme selling pressure. Although oversold conditions don’t guarantee a reversal, they increase the chances of a short-term bounce, especially with strong structural support around the $615 zone. If buyers step in to defend this area, the price could stabilize, forming a base for a possible rebound.

Market Focus Shifts to $615 Support

As Binance Coin continues to unwind recent gains, attention is squarely on the $615 level. A successful defense of this support could lead to a higher low, potentially initiating a rotation back towards higher price targets. Conversely, if the support fails to hold, the market may face deeper corrective levels, extending the current bearish trend.

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Ondo launched Perps for stocks, ETFs, and commodities, offering capital-efficient onchain equity derivatives.

Ondo Global Listing enables U.S. IPO stocks to be tokenized and traded onchain the same day they list.

EU approval lets investors across 30 markets access tokenized U.S. stocks and ETFs under passporting rules.

The Ondo Summit drew more than 200,000 viewers as global financial and policy leaders discussed onchain capital markets. The event featured speakers linked to BlackRock, the White House, Goldman Sachs, and Swift. According to Ondo Finance, the summit focused on expanding access to tokenized stocks, equity derivatives, and regulated onchain infrastructure across U.S. and European markets.

Equity Perpetuals and Day-One IPO Tokenization

At the center of the announcements was the launch of Ondo Perps. According to Ondo Finance, the platform introduces capital-efficient perpetual futures tied to U.S. stocks, ETFs, and commodities. The system relies on institutional-grade infrastructure to support execution, liquidity, and margin efficiency.

Following that, Ondo unveiled Ondo Global Listing. The product allows U.S. IPO stocks to appear onchain the same day they list publicly. According to Ondo Finance, this structure targets investors who historically lacked access to U.S. IPOs. The tokens are designed to remain transferable and compatible across multiple blockchains.

Wallet Access and a New Disclosure Framework

Access formed the next theme. MetaMask added more than 200 Ondo tokenized stocks and ETFs to its self-custodial wallet. According to Ondo Finance, users can mint and redeem tokens during market hours and transfer them peer-to-peer at any time. Liquidity comes from traditional exchanges, while tokens remain composable within DeFi applications.

Notably, Ondo Global Markets also filed a confidential registration statement with the U.S. Securities and Exchange Commission. According to the firm, the filing supports standardized disclosures for tokenized securities. Once effective, all investors would receive equal access to issuer information.

European Approval Expands Market Reach

The final announcement focused on Europe. Ondo received regulatory approval to list its first group of tokenized stocks and ETFs across the EU and EEA. According to Ondo Finance, the approval followed a previously cleared base prospectus by Liechtenstein’s Financial Market Authority.

As a result, investors across 30 European markets can access tokenized versions of stocks such as Apple, Microsoft, Nvidia, Amazon, Tesla, Meta, Google, and the QQQ ETF. The listings operate under passporting rules recognized across the EU and EEA.

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Bitcoin trades sideways now; Doctor Profit expects a bigger drop later toward $44k–$50k.

Spot buys at $57k–$60k target short-term gains, while long-term shorts stay open.

Sideways phase could reach $87k temporarily, offering trading opportunities before the next major dip.

Bitcoin traders are bracing for a prolonged period of sideways movement as the cryptocurrency consolidates between $57,000 and $87,000. According to crypto analyst Doctor Profit, this phase is not bullish but a preparation for a significant decline toward the $44,000–$50,000 range. 

He emphasizes that the current consolidation resembles the 2024 price box, where Bitcoin spent an entire year trading between $58,000 and $74,000 before surging to $100,000. Hence, he sees the present structure as a key reference for the upcoming bear market.

Doctor Profit explained, “Bitcoin is currently trading in a zone where it previously consolidated for an entire year before breaking higher toward 100k. In a bear market context, this same zone is not support, it is structure, and structure eventually breaks.” 

He believes that after the sideways phase has been completed, the market will have a higher probability of breakdown below the box. Thus, traders may begin preparing themselves for volatility during the next few months by trying to profit from minor bounces along the way.

Current Strategy and Price Logic

The analyst is buying spot Bitcoin between $57,000 and $60,000, labeling this area as a local bottom, not the macro bottom. He stated, “I buy 57k–60k for percentage gains, not for the long-term plan.” Meanwhile, he still holds an aggressive short position that was established between $115,000 and $125,000.

Additionally, he expects to see the lower end of the current range to be tested by Bitcoin several times, which is the reason to hold spot buys and shorts. Furthermore, he highlights that the 87,000 level is the highest that the market can go, depending on its strength and how long it can sustain.

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IBIT traded over $10B on Feb. 5 with record put activity as Bitcoin fell, yet ETF inflows topped $300M.

Forced deleveraging and options hedging widened CME basis spreads, pointing to unwinds in market neutral trades.

Bitcoin rebounded over 10% on Feb. 6 as CME open interest recovered faster than Binance amid ongoing deleveraging.

Bitcoin fell 13.2% on February 5 during a broad market selloff that rippled through U.S. risk assets. The decline coincided with record trading in BlackRock’s IBIT ETF amid extreme volatility across equities. According to Jeff Park, ProCap CIO, the move came during one of the most severe capital markets sessions in recent years.

Record IBIT Activity During Market Stress

According to Jeff Park, IBIT posted record trading volume exceeding $10 billion on February 5. That figure doubled the ETF’s prior high since launch. Notably, options activity also reached a record contract count, led mainly by put trading rather than calls.

At the same time, IBIT price action closely tracked software stocks and other risk assets. Goldman Sachs’ prime brokerage desk reported February 4 as one of the worst days for multi-strategy funds. The desk measured the event as a 3.5 z-score, marking an extremely rare performance shock.

As risk managers reacted, funds moved to fast reduce exposure. According to Park, this process explains why February 5 turned into a widespread selloff. However, despite the sharp price decline, IBIT did not record large net redemptions.

Instead, IBIT saw roughly six million new shares created, adding more than $230 million in assets. Across the broader Bitcoin ETF market, inflows exceeded $300 million, according to Park.

Deleveraging, Basis Trades, and Options Pressure

Park said the selloff likely hit multi-asset portfolios rather than crypto-only funds. These portfolios often rebalance automatically during extreme correlations. He also pointed to accelerated downside pressure from options markets.

CME Bitcoin basis spreads widened sharply on February 6, jumping from 3.3% to about 9%. Park said this move suggests forced unwinding of basis trades, involving spot sales and futures purchases.

As dealers adjusted hedges, short gamma exposure intensified selling pressure. Park added that market makers likely sold IBIT aggressively, creating inventory rather than triggering redemptions.

Rebound Dynamics on February 6

Bitcoin rebounded more than 10% on February 6. During that session, CME open interest recovered faster than activity on Binance. According to Park, this shift indicates renewed positioning in market-neutral strategies.

Meanwhile, Binance open interest continued to decline, reflecting ongoing deleveraging among crypto-native traders. Park said these combined flows explain why ETF creations remained balanced while prices stayed lower.

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Tether plans to hire 150 staff as CFO centralizes finance and governance amid growing global oversight.

USDt wallets hit 24.8M, with $4.4T in transfers, showing strong demand despite crypto market turbulence.

Tether froze $544M in Turkey-linked funds and has aided 1,800+ investigations worldwide, boosting compliance.

Tether is moving aggressively to transform from a crypto infrastructure provider into a diversified financial group. The company now manages a portfolio of around 140 investments and employs roughly 300 staff. 

It plans to add another 150 employees to help improve operations. Besides expansion, a new CFO is hired, Simon McWilliams, who is centralizing finance and governance in London. This is as the digital currency firm Tether is facing regulatory pressures.

Recently, Tether froze over $544 million in cryptocurrency at the request of Turkish authorities. The funds were linked to Veysel Sahin, accused of illegal online betting and money laundering. CEO Paolo Ardoino told Bloomberg, “Law enforcement came to us, they provided some information, we looked at the information and we acted in respect of the laws of the country.” Ardoino emphasized that Tether cooperates consistently with authorities, including the DOJ and FBI. Consequently, the company’s compliance efforts have gained renewed attention.

Surging USDt Growth Amid Oversight

Notably, Tether's popular stablecoin, USDt, remains the market's most popular choice. This is because, in Q4 2025, the coin's market capitalization peaked at a historic high of $187.3 billion. For instance, this amount represents a $12.4 billion increase in the coin’s valuation at a time when the cryptocurrency market is experiencing instability. 

In addition, there are 24.8 million monthly active wallets used to hold the coin, which equates to approximately 70% of the total addresses holding stablecoins. Meanwhile, the quarterly transaction volume hit a high of 2.2 billion, translating to $4.4 trillion in transactions.

The regulatory attention continues to be high. The analytics firm Elliptic stated that Tether and Circle had been blacklisted by 5,700 addresses containing $2.5 billion by the end of 2025. Moreover, Tether has assisted in 1,800 investigations in 62 countries, freezing $3.4 billion in USDT related to potential criminal activities. However, the digital currency has been tied to high-risk transactions, such as sanctions evasion and recently, a $1 billion laundering scheme from a Venezuelan national.

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White House holds second meeting Tuesday to resolve stablecoin yield rules with banks and crypto groups.

Banks warn stablecoin yield could drain deposits, while crypto firms say limits would stall innovation.

Yield dispute now central to the Clarity Act, with pressure to reach compromise by month’s end.

The White House will host a second meeting Tuesday afternoon in Washington to address stablecoin yield payments. The talks involve crypto firms, banks, and policy staff, according to three sources who spoke to Crypto In America. Officials aim to narrow differences over whether crypto companies should pay interest on stablecoins, an issue now central to pending market structure legislation.

Banks and Crypto Groups Return to the Table

Following last week’s initial session, the upcoming meeting will again exclude company chief executives. Instead, senior policy staff from banks and industry groups are expected to attend. Sources said invitations have already gone to Bank of America, JPMorgan, and Wells Fargo.

Notably, PNC, Citi, and U.S. Bank may also participate. Press representatives for several firms declined comment, while others did not respond. A White House spokesperson also declined to comment on the meeting.

As before, crypto trade representatives are expected to attend. Banking groups likely include the Bank Policy Institute, the American Bankers Association, and the Independent Community Bankers of America. However, each side is expected to send fewer participants than last week.

Yield Dispute and Legislative Stakes

The main topic is whether crypto firms should offer yield on stablecoins. Banks argue that high-yield crypto accounts could pull deposits away, limiting lending capacity and increasing financial stress. Crypto firms counter that restrictions would protect banks while slowing innovation.

However, Treasury Secretary Scott Bessent acknowledged bank concerns during Senate Banking Committee testimony last Thursday. He said deposit volatility remains undesirable, adding that officials will work to prevent instability linked to stablecoin yield.

The dispute directly affects the Clarity Act, a crypto market structure bill awaiting action in the Senate Banking Committee. Chairman Tim Scott canceled a vote last month after Coinbase CEO Brian Armstrong publicly criticized provisions favoring banks.

Pressure Builds for a Compromise

According to Crypto In America, the White House now prioritizes resolving the yield issue over other regulatory debates. Blockchain Association CEO Summer Mersinger said the crypto industry meets almost daily to align on compromise proposals.

Meanwhile, a banking industry representative said banks are coordinating internally while maintaining a productive approach. White House Crypto Council Executive Director Patrick Witt has urged both sides to reach an agreement by month’s end.

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