Crypto Breaking

Copper, a London-based digital asset custodian backed by Barclays, is weighing a potential initial public offering as investor appetite for cryptocurrency infrastructure companies grows. The discussions, reported by CoinDesk citing sources close to the talks, implicate a lineup of heavyweight banks including Deutsche Bank, Goldman Sachs and Citigroup. Copper did not confirm active plans for a listing, with a spokesperson saying the firm is not currently planning an IPO, though they also declined to comment on whether early discussions are underway.

Founded to provide institutional-grade custody, settlement and collateral management for digital assets, Copper aims to help financial institutions store and move crypto while mitigating counterparty risk. The company has previously built out a network of strategic relationships that position it as a core piece of the crypto infrastructure stack. In recent months, Copper’s profile has risen as institutions seek regulated, trustworthy on-ramps into the digital asset ecosystem.

Historically, Copper has strong ties to traditional finance. Cantor Fitzgerald selected Copper as a Bitcoin (Bitcoin (CRYPTO: BTC) custody partner, a move that underscored the dealer’s confidence in Copper’s ability to safeguard digital assets for premium clients. Copper has also collaborated with Coinbase to facilitate off-exchange settlement for institutional clients, expanding its reach beyond on-chain settlements and into more traditional settlement workflows.

BitGo (BTGO) stock price has declined sharply over the past five trading sessions. Source: Yahoo Finance

Institutional interest in digital assets has persisted as US regulation evolves, nudging more actors toward regulated, bank-like infrastructure. If Copper were to pursue a public listing, it would position itself alongside rivals and peers that aim to provide the plumbing for crypto markets—clearing, custody and collateral management—much as traditional clearinghouses and custodial banks serve conventional finance.

Related: Crypto’s bank-like turn puts JPMorgan on edge

BitGo IPO highlights crypto’s growing momentum on Wall Street

One prominent data point illustrating the momentum is BitGo’s recent public-market debut. The company priced its initial public offering at $18 per share after raising more than $200 million in gross proceeds from the sale of 11.8 million Class A common shares. The listing marks another milestone in the ongoing integration of crypto-focused firms into traditional equity markets.

In the days following the pricing, BitGo’s stock moved higher in early trading but subsequently retraced. It later traded below its IPO price, leaving the company with a market capitalization around $1.4 billion. The volatility observed in BitGo’s trading underscores the broader challenge facing new entrants into the public markets in the crypto space, even as investor interest remains robust and headline activity remains high.

Beyond BitGo, several crypto firms have explored or pursued public listings in recent years. Circle, Gemini, Bullish and Figure Technologies have all toyed with IPO plans or funding-driven exits, while Kraken and Ledger have been publicly discussed as potential candidates. The sector’s path to the public markets is unlikely to be linear, with varying valuations, regulatory reviews and capital-market conditions shaping outcomes for each player.

Source: Henri Arslanian

As the sector moves deeper into public markets, investors are watching for how these companies align with global regulatory expectations, how their cash-flows hold up under scrutiny, and how their governance structures evolve to address the risks inherent in crypto exposure. The trajectory of Copper, whether it directly pursues an IPO or remains private while pursuing strategic partnerships, will be read as a barometer for the broader appetite among institutional buyers for crypto infrastructure services.

For market participants, the ongoing wave of listings reinforces a key theme: the crypto economy is increasingly interwoven with traditional finance. Custodians, settlement engines and collateral-management platforms are emerging as essential infrastructure, mirroring the roles of central counterparties and custodians in established markets. The evolution of these businesses will influence liquidity, risk management, and capital allocation across the crypto ecosystem as more institutions seek regulated, efficient access to digital assets.

In a landscape where regulation and market structure are still taking shape, the real test lies in durability and governance. If Copper progresses toward a public listing, it will be watched for how it translates its institutional-grade capabilities into scalable, auditable processes that satisfy both investors and regulators. The industry is watching closely to see whether the IPO path can deliver the long-term reliability that institutional actors demand, while sustaining the innovation that drives digital-asset adoption forward.

What to watch next

Progress of Copper’s public-listing discussions, including any formal statements or filings that clarify scope and timing.

Details on bank participants’ roles, potential underwriters, and any indicative timelines for a decision.

Regulatory developments that could affect custody and settlement providers operating in the United States.

Market reception to upcoming crypto infrastructure IPOs and any shifts in investor risk appetite.

Sources & verification

CoinDesk report on Copper exploring an IPO and the named banks involved.

Cantor Fitzgerald selecting Copper as a Bitcoin custodian (linked in prior reporting).

Copper’s collaboration with Coinbase for off-exchange settlement for institutional clients.

BitGo’s IPO pricing at $18 per share and the subsequent trading performance (Cointelegraph and Yahoo Finance coverage).

Broader coverage of crypto-focused IPOs and the ongoing consideration of other companies for public listings (Cointelegraph).

This article was originally published as Copper Explores IPO as Crypto Custody Captures Wall Street Interest on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitcoin started the year with momentum but has since reversed course, slipping to a yearly low below 84,000 as futures deleveraging pressured prices. Analysts say the move reflects a broader corrective regime rather than a structural market breakdown, driven more by leverage in the derivatives space than by fresh selling in spot markets. The slide has erased early-year gains and raised questions about how long the current pullback may persist as liquidity conditions remain uneven and risk appetite shifts across trading venues.

Key takeaways

Bitcoin touched 83,600, testing the lower bound of a 10-week consolidation range that has framed price action since mid-November 2025.

Taker sell volume surged to about $4.1 billion in a two-hour window across multiple exchanges, underscoring futures-driven pressure rather than broad spot selling.

The decline wiped roughly $570 million in long positions, illustrating how leveraged bets amplified the move during New York trading hours.

Analysts view the action as a corrective unwind within a longer-term regime, with attention turning to whether buyers can defend key support levels in the near term.

Tickers mentioned: $BTC

Sentiment: Neutral

Price impact: Negative. The slide from about $88,000 to the mid-$83,000s marked a sharp move that compressed long-position exposure and raised the prospect of further retracements if support gives way.

Market context: The move aligns with a broader pattern of leverage unwinds in crypto markets, where futures-driven dynamics and liquidity conditions continue to shape price responses even as spot demand shows episodic support.

Why it matters

The latest price action highlights how Bitcoin remains sensitive to the balance between leveraged risk in the futures market and underlying spot demand. When taker sell pressure spikes, it often signals a liquidity-driven adjustment rather than a fundamental shift in long-term value. The swift capitulation to 83,600 and the subsequent pressure on surrounding support levels test traders’ confidence in a swift rebound, especially given the documented trend of heavy derivatives activity that has previously preceded volatility spikes.

From a risk-management perspective, the episode serves as a reminder that even in a market displaying periods of resilience, a sizable chunk of the recent price action has been driven by leverage unwinds. The $4.1 billion in taker sell volume observed over a short window points to rapid hedging and forced liquidations that can overshoot near-term price targets. For investors and funds, the event underscores the importance of margin discipline and the need to monitor changes in futures open interest as potential early signals of how much longer the current correction might endure.

On-chain and derivatives data have repeatedly shown that these episodes are not simply about a cascade of steady selling. Rather, they are often concentrated events that reflect a shift in risk sentiment among large market players. The Lookonchain update, citing a prominent trader nicknamed BitcoinOG, illustrated the scale of losses incurred by a single actor whose positions swung dramatically over two weeks, illustrating how outsized strategies can amplify drawdowns during downturns. Such instances underscore the dialog between on-chain activity and derivatives markets in mapping the health of the broader ecosystem during periods of stress.

“The market just crashed, and #BitcoinOG (1011short) is taking heavy losses on his massive long positions. In just 2 weeks, he has lost $138M, with total profits dropping from $142M+ to just $3.86M.”

Bitcoin Taker Sell Volume. Source: CryptoQuant

The price action has kept Bitcoin (BTC) within a defined range since mid-November, with weekly closes historically capped between roughly $94,000 and $84,000. The latest test near the lower boundary raises the prospect of a deeper pullback if buyers fail to defend key support levels, though many expect a rebound to materialize once liquidity improves and risk appetite stabilizes. In addition to the immediate price dynamics, derivatives metrics have shown that declines in open interest have tended to align with local price lows, suggesting that the current leg of weakness may be more about leverage unwinding than a sustained trend reversal.

Bitcoin one-day chart. Source: Cointelegraph/TradingView

Analysts have anchored their broad interpretation in the context of a broader macro view: after a strong expansion phase in mid-2025, returns have cooled, and near-term momentum appears to have shifted toward a more cautious posture. The interplay between leveraged bets and spot purchases is a recurring theme in such environments, where price action can swing rapidly on hedging activity and shifting risk tolerances rather than on fundamental changes in cryptocurrency adoption or use cases. In several notable instances, declines in futures open interest have coincided with local price bottoms, underscoring the tendency for pullbacks to be driven by forced liquidations rather than a wholesale shift in investor sentiment.

As the market digests the latest move, participants will be watching how the price behaves around the 84,000 level and whether demand at that juncture can absorb the selling pressure without triggering another wave of margin calls. The dynamic remains a reminder that liquidity conditions and risk-off sentiment continue to play a central role in crypto markets, even as the underlying technology and use cases for Bitcoin (BTC) persist to evolve in the long run.

Where the story goes next

Next steps include monitoring whether the price can reclaim the 84,000–85,000 zone and whether any shift in futures activity signals a renewed appetite to push higher. Traders will likely scrutinize open interest dynamics for further signs of whether the recent deleveraging has run its course or if additional downside risk remains. On-chain indicators, particularly taker-volume metrics and liquidation data, will help gauge the severity and duration of the current contraction in leverage. In addition, any regulatory or macro catalysts that alter liquidity or market structure could accelerate or dampen the next phase of Bitcoin’s price journey.

What to watch next

Watch for a test of the 84,000 level over the next few sessions and assess whether buyers step in to defend it.

Monitor futures open interest changes for signs of renewed leverage risk or relief rallies.

Track on-chain taker volumes and liquidation flows to gauge the persistence of selling pressure.

Look for any liquidity-led regime shifts that could yield a stronger rebound if marketmakers return to more favorable risk conditions.

Sources & verification

CryptoQuant data on taker sell volume, highlighting the roughly $4.1 billion spike in a two-hour window across exchanges.

Lookonchain post documenting the losses of a prominent trader nicknamed BitcoinOG during the recent pullback.

Cointelegraph price analysis visuals and TradingView data referenced in the daily and weekly charts.

Observed range boundaries since November 17, 2025, defining the current 10-week consolidation zone.

This article was originally published as Bitcoin Dips to Yearly Low as Leverage Unwinds Under $85K on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitcoin, the flagship asset in crypto markets, slid alongside equities and precious metals as a broad risk-off mood swept through markets on Thursday. The benchmark cryptocurrency breached the $85,000 threshold and extended losses toward two-month lows, with intraday prints around $83,156 on Bitstamp, according to TradingView data. The pullback added to a sense of renewed volatility that has characterized crypto trading as liquidity conditions tightened in late January. At the same time, gold spiked to the upper end of its recent range before giving back some ground, underscoring heightened nerves about macro stability and rate expectations.

Key points:

Bitcoin dives below $85,000 as macro assets suddenly tumble from record highs.

Gold and silver shock market watchers as nerves over global financial stability grow.

BTC price action faces an uphill struggle to avoid a bear market tone at the monthly close.

Gold meltdown catches Bitcoin in its wake

Data from TradingView captured new 2026 lows for Bitcoin, which slipped to about $83,156 on Bitstamp, marking a near-6% intraday drop. The move extended a sequence of declines that traders said reflected a broader shift in risk appetite across macro assets. The price action came as gold traded with heightened intraday volatility, briefly touching the coveted $5,600 level before losing momentum in consecutive minutes, a signal that investors were reassessing hedging plays amid evolving liquidity conditions.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

Support at the 2026 yearly open and nearby moving averages failed to stem selling pressure as crypto liquidations crossed the $500 million mark within four hours, underscoring a rapid unwind across long positions. The spike in liquidations highlighted the fragility of leverage in an environment where volatility can surge in a matter of minutes.

Crypto liquidations (screenshot). Source: CoinGlass

The broader sell-off did not spare gold and other risk assets. Gold, which had surged intraday to a historic nominal high, retraced more than $400 within half an hour, a move that surprised some observers given its historical role as a safe-haven asset during periods of macro stress. The rapid swing in precious metals drew attention from traders who had anticipated a more orderly risk-off environment, prompting questions about whether the current dynamic signals a structural shift in how assets react to rate expectations and liquidity shifts.

As the market digested the liquidity crunch, traders attempted to reconcile the sudden drop in Bitcoin with a broader macro narrative. Some argued that the repricing was less about a single catalyst and more about a rebalancing of portfolios as traders reassessed correlations between crypto and traditional assets in a backdrop of shifting policy expectations.

Rate cuts can’t pump BTC.
Pro-crypto President can’t pump BTC.
Weak dollar can’t pump BTC.
Institutional adoption can’t pump BTC.
Rising Global liquidity can’t pump BTC.
Fed injecting liquidity can’t pump BTC.
Stocks new ATH can’t pump BTC.

Is there anything that could pump BTC… pic.twitter.com/GK5OAHHP4m

— BitBull (@AkaBull_) January 29, 2026

“Wild markets today as Gold and Silver erase trillions in minutes. Yes, BTC goes down during that panic flush, and we’ll probably see some lower levels,” remarked Michaël van de Poppe, a widely followed crypto trader and analyst, in a post on X. He added, however, that a turning point for Bitcoin could be on the horizon, signaling an opportunity for fresh upside if risk sentiment stabilizes.

“ time for Bitcoin to shine is coming.”

BTC/USD vs. XAU/USD one-day chart. Source: Cointelegraph/TradingView

Nic Puckrin, CEO of the crypto education site Coin Bureau, joined the chorus warning that the day’s price action in gold and silver looked unusual for traditional safe-haven assets. He described the move as “insane,” adding that the dollar’s status as a global reserve currency could be facing a reputation test as investors and central banks prepare for turbulence ahead. “They are prepositioning,” he told followers, underscoring the idea that the metals rally was partly hedging against potential shocks in coming weeks.

“Get excited about metals, but realise these buys are essentially insurance. And, when gold and silver actually ‘do this,’ we need to pay attention.”

All eyes on BTC price monthly close

Earlier reporting noted unusual activity on Bitcoin exchange order-books involving an unnamed whale entity that appeared to suppress the price, fueling speculation about manipulation. The story highlighted the fragility of liquidity in a market that has grown increasingly complex, with high-frequency traders and large players capable of moving prices in thinly traded windows. Analysts emphasized that reclaiming the 2026 open by the monthly candle close would be a meaningful signal for bulls, while a close below the key inflection near $87.5k could set the stage for renewed downside pressure.

Keith Alan, cofounder of the trading resource Material Indicators, weighed in on the importance of the monthly close, noting that BTC was testing a critical support level. He cautioned that a close above the Yearly Open would inject some optimism for bulls, whereas a close below the Timelike Level of approximately $87.5k might pave a path toward Bearadise for the rest of the year. The ensuing price action would likely influence traders’ positioning as liquidity cycles evolve and macro conditions unfold.

“A monthly close above the Yearly Open will fuel hopium for bulls. A close below that Timescape Level ($87.5k) will puts us on a path to Bearadise.”

BTC/USD 1-day candle chart. Source: X/ KAProductions

Market context: The slide follows a broader pattern of macro-driven risk-off moves that have reappeared as investors reassess rate paths, liquidity conditions, and the evolving relationship between crypto and traditional markets. Liquidity stress, rather than a single trigger, appears to be driving the current price action, with traders watching for a stabilization signal before committing to new position sizing.

Why it matters

The week’s price action underscores Bitcoin’s continued sensitivity to macro developments and cross-asset sentiment. A sustained break below the Yearly Open could raise the risk of a more extended downturn, while a decisive close above critical levels might reinstate momentum for bulls and entice fresh buyers who were sidelined by volatility. The episode also highlights how rapidly correlated markets can move when liquidity is tested, reinforcing the need for robust risk management and transparent on-chain signals for participants navigating a volatile landscape.

For investors and developers in the space, the episode serves as a reminder that liquidity prudence remains essential, especially for those relying on leverage or margin-based strategies. The interplay between gold, equities, and crypto continues to be a focal point for risk assessment, with on-chain data and off-chain liquidity metrics providing a composite picture of market health as 2026 unfolds.

What to watch next

BTC price action around the Yearly Open and the key inflection near $87.5k in the coming daily candles.

Next round of macro data releases and central bank commentary to gauge liquidity expectations.

Further liquidity and liquidation signals on platforms like CoinGlass to confirm the persistence or reversal of the current risk-off regime.

Regulatory developments and institutional positioning that could tilt flows back toward risk-on if conditions stabilize.

Sources & verification

Bitcoin price prints and intraday levels from TradingView for BTCUSD on Bitstamp.

Gold (XAU/USD) intraday highs around $5,600 and subsequent pullback.

Crypto liquidations data from CoinGlass showing totals above $500 million in four hours.

Public posts from Michaël van de Poppe and Nic Puckrin on X, discussing market dynamics and outlook.

Earlier Cointelegraph reporting on suspected manipulation in Bitcoin order-books involving a whale entity.

Market reaction and key details

Markets reeled as Bitcoin, the leading crypto asset, confronted a wave of selling across macro-asset classes. The first appearance of a marked price break occurred as liquidity tightened, with BTC dipping below the $85,000 level and trading near $83,156 at one point on Bitstamp, signaling a two-month trough. The rivalry between risk assets and hedging instruments intensified as traders reeled from a liquidations surge that crossed half a billion dollars in just a few hours. In parallel, gold surged to a fresh nominal high around $5,600 before retreating, illustrating the jittery posture of investors who were price-discovering across markets in real time.

As the day progressed, market participants weighed the implications for BTC’s near-term trajectory. Some argued that the weakness was part of a larger risk-off purge that could unwind protective positioning, while others urged caution, noting that a near-term relief rally could materialize if macro conditions stabilize and liquidity returns. A prominent voice in the space observed that the current dynamics may hinge on a decisive monthly close rather than one-off fluctuations, with the Yearly Open acting as a pivotal anchor for sentiment in the weeks ahead.

In parallel, traders and analysts debated the price action in metals and its relationship to digital assets. A widely followed trader noted that the gold rally had proved unstable, suggesting a potential pause in the metal’s run that could affect how investors weigh gold as an insurance asset going forward. The sentiment around BTC remained nuanced, with some observers signaling a potential shift once the market clears the short-term fog and aligns with more definitive macro cues.

Ultimately, the episode highlighted the delicate balance between opportunity and risk in a market that remains highly data-driven and sensitive to policy signals. As the day closed, the evolving story centered on whether Bitcoin could reclaim its critical levels and set the stage for a more constructive trend or whether the sell-off would crystallize into a broader corrective phase.

What matters for participants is the ongoing test of the Yearly Open and the near-term resilience of BTC near the key inflection near $87.5k. The coming weeks will determine whether Bulls regain momentum or the bears extend their grip as liquidity conditions remain a central driver of price action across crypto and traditional markets.

//platform.twitter.com/widgets.js

This article was originally published as Bitcoin Dips Below $85K as Global Macro Assets Fall on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Regulatory clarity for digital assets remains a priority in Washington as the White House prepares a key meeting and Congress mulls the market-structure framework. On Jan. 29, 2026, SEC Chair Paul Atkins and CFTC Chair Mike Selig spoke on CNBC’s Squawk Box about the CLARITY Act, in a segment linked here: discuss. The measure has cleared the House but is stalled in the Senate as Agriculture and Banking committees hash out provisions. The debate centers on stablecoin yields and how they should be regulated. Coinbase’s withdrawal of support highlighted industry concerns. Atkins framed the dialogue as a path to a workable compromise, while Selig noted that, due to the GENIUS Act, stablecoin policy sits largely outside the agency’s remit, shifting the focus to securities and tokenized assets. A White House meeting with financial and crypto leaders on Monday adds momentum to the negotiations.

SEC Chair Paul Atkins (middle) and CFTC Chair Mike Selig (right) on CNBC’s Squawk Box. Source: CNBC

Key takeaways

Regulators frame their role as advisory, signaling a collaborative but ultimately legislative-driven path to rulemaking on crypto, with the White House and Congress guiding the final framework.

The CLARITY Act remains in limbo in the Senate after House passage, with Agriculture and Banking committees scrutinizing provisions that touch yield, custody, and supervisory jurisdiction.

GENIUS Act’s July 2025 enactment has effectively placed stablecoin policy outside the reach of the SEC and CFTC, according to officials, shaping where responsibility lies as policymakers weigh securities versus non-securities classifications.

Industry pushback surfaced when Coinbase withdrew support for the bill, underscoring concerns about how yield provisions would be treated under any final regime.

A White House-hosted meeting on Monday aims to bridge gaps between bankers and crypto participants, signaling a push for a common regulatory language.

Market context: The regulatory process in Washington continues to influence liquidity, risk sentiment, and product development across the crypto sector, with participants awaiting a coherent set of rules that can be implemented without stifling innovation.

Why it matters

The evolving dialogue between regulators and lawmakers matters because it sets the tone for how market participants will operate in the near term. For investors and traders, clear rules reduce uncertainty around product design, disclosure standards, and risk management. Exchanges and custodians rely on predictable guidance to build compliant infrastructures, while developers exploring tokenized securities and other innovations need clarity on whether their use cases will be treated as securities or non-securities assets.

From a policy standpoint, the moment underscores a balancing act between investor protection and market efficiency. Regulators stress a willingness to engage once a broad consensus emerges, but the path to a final framework remains intricate: it involves reconciling the SEC’s and CFTC’s jurisdictions with newly enacted or proposed statutes, and it requires alignment with executive priorities outlined in White House meetings and Senate deliberations.

Observers also note that the final regulatory construct could resemble a mosaic rather than a single, sweeping regime. The emphasis on stablecoins — particularly the yields generated by certain stablecoin arrangements — has become a focal point of contention among traditional financial institutions and crypto firms alike. The ongoing debate, highlighted by the CNBC interview and committee hearings, illustrates how policy design will influence not just compliance costs but the pace and direction of product innovation in the sector.

What to watch next

The White House meeting with banking and crypto executives on Monday, aimed at aligning industry expectations with policy objectives.

Ongoing Senate Agriculture Committee discussions and potential amendments as lawmakers work toward a floor vote on the digital asset market structure bill.

Any public statements or guidance from the SEC and CFTC following committee actions and interagency discussions.

Industry responses and stakeholder advocacy as the yield provisions and regulatory boundaries for stablecoins are debated.

Sources & verification

CNBC video: sec-cftc-chairs-on-crypto-regulation-we-can-codify-sensible-rules-of-the-road-for-the-asset-class.html

Cointelegraph: live-senate-markup-crypto-market-structure-bill

Cointelegraph: clarity-act-crypto-market-structure-coinbase-brian-armstrong

Cointelegraph: stablecoin-genius-act-donald-trump-signing

Cointelegraph: Trump banks crypto clarity market structure

Cointelegraph: us-bank-lobby-aba-crypto-stablecoin-yields-priority-clarity-genius

Regulatory pathway and next steps

Key lawmakers and regulators remain cautious but engaged, recognizing that a final framework will require both bipartisanship and a careful division of responsibilities among federal agencies. The CLARITY Act’s fate in the Senate looms large, as does the White House’s effort to broker consensus ahead of potential votes. In the near term, stakeholders should monitor the Monday meeting and any subsequent committee actions that refine the bill’s provisions, particularly around yield mechanics and the treatment of stablecoins within a wider regulatory taxonomy. The outcome could influence how quickly new market participants enter the space, how existing firms adjust their products, and how the broader investment community assesses risk in the evolving crypto landscape.

What the article changes for readers

For industry players, the piece highlights the ongoing tug-of-war between policy goals and market realities. For policymakers, it underscores the practical implications of jurisdictional choices and yield policy on innovation and consumer protection. And for observers, it provides a snapshot of how front-office discussions translate into legislative momentum or gridlock, shaping the trajectory of digital asset regulation in the United States.

This article was originally published as SEC and CFTC Strike a Conciliatory Tone Ahead of CLARITY Act Talks on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Key insights

BTC forms a triangle at major support, showing price compression and market indecision.

Declining volume points to consolidation, not an active breakout phase yet.

A high-volume move beyond triangle limits may set the next directional trend.

Triangle Structure Forms at Key Support

Bitcoin price trades near a major support zone as a tightening triangle takes shape on the four-hour chart. The pattern shows lower highs and higher lows, which reflect compression. Buyers responded at channel support earlier this week, but momentum declined. Price now oscillates around a point of high volume which brings on two sided action.

Source: TradingView

This area coincides with the point of control, the low of the value area, and 0.618 Fibonacci level. Such confluence often slows directional moves. Sellers have not forced a sharp rejection. Instead, price holds structure while participants assess risk. The setup keeps Bitcoin in balance rather than in trend.

Volume Trend Signals Market Balance

Volume has declined during the triangle formation, which signals consolidation. Strong trends usually show expanding participation. Here, reduced turnover suggests traders wait for confirmation. This behavior fits a coiling market. As ranges tighten, energy builds for a later expansion. Until volume rises, breakouts carry lower reliability.

Market profile data places the point of control near the current price. That level acts as a pivot. When price is above it, buyers gain leverage. When price slips below it, sellers test control. The ongoing standoff explains the narrow swings. Participants respond, yet neither side dominates.

BTC Price Action: What is the next move?

A confirmed move above the triangle’s upper boundary would shift focus higher. Analysts would then watch the value area high and channel resistance. These zones hosted prior supply. Price must hold above the breakout line to prove acceptance. Expanding volume would strengthen the bullish case.

Failure to defend the support cluster would alter the outlook. A breakdown would signal that the recent rise was corrective. Sellers could then target lower value areas inside the channel. For now, Bitcoin trades in a neutral range. The market approaches a decision as compression continues.

Short-term traders follow intraday while longer-term participants track weekly support. Both groups require assurance prior to exposure amplification. Good direction will be created when price breaks out of the triangle with conviction. So far, range strategies prevail order flow at exchanges.

This article was originally published as Bitcoin Consolidates at Key Support: Triangle Pattern Signals Imminent Move on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Decentralized physical infrastructure networks, or DePINs, are not merely a buzzword confined to late‑cycle crypto chatter. A joint State of DePIN 2025 report from Messari and Escape Velocity argues the sector has matured into a $10 billion market, with on‑chain revenue tallying around $72 million in the prior year. The analysis contrasts the post‑2018–2022 DePIN token cohort—down a staggering 94% to 99% from their all‑time highs—with a handful of projects that are now generating verifiable recurring revenue and commanding valuation multiples in the 10x–25x revenue band. Messari frames these multiples as undervalued given the growth trajectory, highlighting a shift that aligns networks with real‑world usage rather than subsidy‑driven expansion.

According to the report, the DePIN class of 2018‑2022 remains deeply discounted versus historic highs, but the rhetoric is giving way to a narrative of practical utility. The study notes a pivot away from subsidized growth toward networks that monetize genuine activity—ranging from bandwidth and compute to energy and sensor data. In practical terms, this means some DePIN projects are transitioning from capital raises and token inflows to sustainable cash flows generated by users and enterprises. The emphasis on real‑world usage is a marked departure from the early cycles, when token inflation and speculative demand often outpaced tangible revenue.

“Revenue matters more than token price in the DePIN sector,” said Markus Levin, co‑founder of XYO, a DePIN pioneer established in 2018. Levin, speaking to Cointelegraph, noted that as the market matures, valuations are starting to reflect actual economic activity that endures even when token prices drift. The takeaway is not that token prices are irrelevant, but that real, on‑chain income provides a more durable signal of value than price action alone.

DePIN growth more resilient than DeFi and L1s. Source: Messari

Related: Solana-based Natix brings DePIN data into self-driving AI with Valeo

DePIN: From hype to revenues

The authors draw a stark contrast between “DePIN 2021” and “DePIN 2025,” arguing that early cycles centered on networks awaiting revenue, plagued by high token inflation, demand constraints, and valuations propelled by retail speculation. In today’s landscape, the leading networks are not only generating on‑chain revenue but also exhibiting low or negligible supply inflation. Growth is increasingly driven by utility and competitive cost advantages rather than subsidies. Levin characterized DePIN as fundamentally different from broader crypto because it delivers tangible, real‑world utility to end users. The return on investment, in this framing, shows up in usage and cash flow first, with price appreciation acting as a secondary consideration for investors.

Messari’s DePIN leaders

The report highlights a DePIN Leaders Index tracking 15 projects across bandwidth, compute, energy and sensor networks that meet criteria such as at least $500,000 in annual recurring revenue and a minimum of $30 million raised. A notable finding is that DePIN revenue growth has demonstrated greater resilience than some segments of the decentralized finance (DeFi) ecosystem and layer‑1 blockchains during the current bear market. This empirical edge—revenue stability amid price volatility—frames DePIN networks as potential long‑term infrastructure plays within crypto markets. Helium, a longtime DePIN participant, has illustrated the tension between price and revenue: while on‑chain revenue grows, token prices have endured substantial declines.

The DePIN narrative is also anchored in the broader infrastructure‑as‑a‑service ethos. The report points to a wave of real‑world use cases spanning positioning, mapping, and robotics, where repeat usage is beginning to emerge even as some verticals navigate regulatory and competitive pressures. The data suggest that the most durable networks will be those capable of monetizing genuine customer demand without relying exclusively on incentives. The broader implication for token holders and developers is straightforward: revenue quality increasingly signals sustainable value, while speculative price moves remain noisy and episodic.

InfraFi and DePIN’s emerging infrastructure trade

Last year marked a record for DePIN fundraising, with roughly $1 billion raised across the sector, up from $698 million in 2024. The Messari report singles out a concept called “InfraFi,” a DePIN/DeFi hybrid model in which stablecoin holders finance real‑world infrastructure and earn yield from those assets. Early InfraFi examples cited include stablecoins and asset pools that fund compute, energy and bandwidth capacity, with USDai reaching about $685 million in user deposits to help finance GPU fleets. Messari contends that the most promising DePIN tokens now resemble next‑generation infrastructure businesses in bandwidth, storage, compute and sensing, yet they trade at prices that appear to discount their survival prospects and ultimate success.

Levin argues that the networks with the strongest growth potential are those that can reliably deliver to enterprise and AI‑driven demand sectors. He pointed to use cases that scale beyond consumer incentives, where the value lies in repeatable revenue streams rather than episodic price spikes. A broader takeaway is that DePIN’s maturation may coincide with a more disciplined investment backdrop, where capital is directed toward networks with demonstrable usage and enterprise traction rather than speculative models alone.

As the sector evolves, industry observers expect continued emphasis on governance, regulation, and product-market fit. The ongoing challenge is to reconcile regulatory uncertainty with the demand side—enterprise integration, sensor networks, and AI workloads—where DePIN networks could become essential digital infrastructure. The conversation around DePIN remains nuanced: some projects will struggle to survive regulatory headwinds, while others may flourish by carving out essential, recurring revenue streams that underpin long‑term value creation.

Note: The article above references the Messari report and related DePIN analysis, including the broader ecosystem dynamics and specific token‑level observations.

What to watch next

Updated metrics from the Messari/Escape Velocity State of DePIN 2025 release, including revised revenue figures and new leaders in the index.

Enterprise adoption milestones for bandwidth, compute, energy and sensor networks, with measurable usage and cash flow data.

Regulatory developments affecting DePIN implementations, particularly in sectors with critical infrastructure implications.

New InfraFi deployments or partnerships that expand stablecoin financing for real‑world infrastructure projects.

Public disclosures from leading DePIN projects about annual recurring revenue growth and capital raises.

Sources & verification

Messari and Escape Velocity, State of DePIN 2025 report, link above.

DePIN token discussions and explanations, including DePIN tokens explained article.

Helium price index and on‑chain revenue data referenced in the report.

Messari’s DePIN Leaders Index and annual funding data cited in the report.

Market reaction and key details

The DePIN sector is not turning around on a single headline; instead, investors are watching for a durable shift. The Messari/Escape Velocity study emphasizes that the strongest DePIN projects are those that translate user activity into on‑chain revenue and demonstrable cash flow. This creates a more resilient investment thesis than speculative bets on price appreciation alone. While price action for tokens like Helium (CRYPTO: HNT) and GEODNET (CRYPTO: GEOD) has endured meaningful drawdowns in recent bear conditions, the on‑chain revenue signals suggest a maturing market where real usage underpins long‑term value. The report’s framing—revenue first, price second—appears to be gaining traction among developers, operators, and institutional observers alike.

Two central threads emerge from the current landscape. First, a cohort of DePIN projects is navigating toward self-sustaining models that minimize supply inflation and maximize utility. Second, a growing subset of projects is pursuing enterprise and AI‑driven demand, aiming to provide reliable infra services that can scale with the needs of modern digital workflows. In practical terms, the story shifts from a parabolic growth fantasy to a structural, revenue‑driven narrative that could underpin a more stable valuation framework for infrastructure tokens.

At the same time, the broader market backdrop remains a factor. Even as on‑chain earnings show resilience, token prices have not kept pace, underscoring the divergence between financial market cycles and the operational realities of DePIN networks. For builders and investors, the takeaway is clear: prioritize networks with demonstrable revenue streams, sustainable margins, and governance that aligns incentives with long‑term viability. The tension between incentive structures and substantive usage will continue to shape how DePIN projects are valued in the months ahead.

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This article was originally published as Messari: DePIN Emerges as a $10B Sector with Resilient Revenues on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Over the past 24 hours, digital-asset legal risk has clustered around three themes: (1) how existing securities laws apply to “tokenized securities” in the United States, (2) sanctions and financial-crime enforcement expectations for cryptoasset firms in the United Kingdom, and (3) tightening scrutiny of consumer-facing crypto advertising and financial-promotion messaging in the UK. Together, these developments reinforce a consistent direction of travel: regulators are prioritizing clarity on instrument classification, faster and more transparent enforcement pathways, and higher marketing standards where retail audiences are involved.

Regulatory and Policy Developments

United States: SEC staff clarifies “tokenized securities” taxonomy and regulatory perimeter

On January 28, 2026, staff from the SEC’s Divisions of Corporation Finance, Investment Management, and Trading and Markets published a statement describing how federal securities laws apply when a “security” is formatted as, or represented by, a crypto asset and recorded on a crypto network (a “tokenized security”). (sec.gov)

Key points for legal and compliance teams:

Form does not change substance. The statement emphasizes that the format (onchain vs offchain recordkeeping) does not alter whether an instrument is a security or the baseline Securities Act/Exchange Act obligations for offers, sales, and intermediated activity. (sec.gov)

Two broad models: issuer-sponsored vs third-party tokenization. The SEC staff distinguishes issuer-sponsored tokenization (where an issuer integrates DLT into the ownership record or uses crypto rails to facilitate transfers) from third-party tokenization (where an unaffiliated party creates tokenized representations, security entitlements, or synthetic “linked” exposures). (sec.gov)

Third-party structures may add layered risk. Where a third party tokenizes an underlying security, the token holder may take on additional counterparty and insolvency exposure not present in the underlying security itself, potentially changing disclosures, custody considerations, and intermediary responsibilities. (sec.gov)

Practical takeaway: the statement reads as an invitation for market participants to map their product structures to established securities-law categories (including security entitlements and structured “linked” exposures), and to engage the SEC on registration, exemptive, or no-action pathways where needed. (sec.gov)

United Kingdom: OFSI publishes updated enforcement framework and signals faster case resolution tools

On January 29, 2026, the UK Office of Financial Sanctions Implementation (OFSI) published a consultation response and outlined a revised enforcement framework intended to support compliance and increase transparency and speed in sanctions enforcement. (ofsi.blog.gov.uk)

Notable elements include:

More predictable penalty methodology and incentives for cooperation. OFSI plans to publish a new case assessment matrix and revise voluntary disclosure discounts (including a “Voluntary Disclosure and Co-operation” discount capped at 30% of the baseline penalty). (ofsi.blog.gov.uk)

Settlement and “Early Account” mechanisms. OFSI describes a Settlement Scheme (with a discount on baseline penalties for settled cases) and an Early Account Scheme intended to accelerate investigations where subjects provide a comprehensive early account of the breach. (ofsi.blog.gov.uk)

Operational prioritization and pipeline management. OFSI notes a growing sanctions caseload and states it will prioritize cases by seriousness, alignment with broader objectives, and sector vulnerability signals. (ofsi.blog.gov.uk)

While OFSI’s framework is not crypto-specific, it is directly relevant to cryptoasset firms that touch sanctioned jurisdictions, sanctioned persons, or high-risk typologies. It signals a compliance environment where early engagement, self-reporting, and remediation posture may materially affect outcomes.

United Kingdom: multi-agency focus on sanctions evasion using cryptoassets

On January 28, 2026, OFSI highlighted a multi-agency operational effort targeting sanctions offences involving cryptoassets, including collaboration via a pilot initiative (the “Crypto Cash Fusion Cell”) bringing together OFSI, law enforcement, HMRC, the FCA and others. (ofsi.blog.gov.uk) The post underscores an enforcement expectation that cryptoassets used to evade sanctions will be treated no differently than traditional currencies, and points firms to OFSI’s threat assessment material on cryptoasset-sector sanctions compliance. (ofsi.blog.gov.uk)

Enforcement and Litigation Updates

United States: Ninth Circuit affirms dismissal of federal Securities Act claims against Ripple as time-barred

In a memorandum disposition filed January 27, 2026, the U.S. Court of Appeals for the Ninth Circuit affirmed summary judgment for Ripple on federal Securities Act Section 12(a)(1) claims, holding that the three-year statute of repose in Section 13 barred the claims.

The panel concluded that, on the record before it, XRP had been “bona fide offered to the public” as early as 2013, and that the plaintiff failed to raise a material factual issue that later distributions (including 2017 releases from escrow-like arrangements) constituted a separate offering that would restart the repose period. The court also rejected proposed theories it viewed as ill-suited to the statute of repose and emphasized the certainty function of repose.

Scope note: the disposition states it is not for publication and is not precedent except as provided by Ninth Circuit rules, and the appellate decision is limited to claims included in the district court’s Rule 54(b) certification.

United Kingdom: advertising enforcement signals stricter expectations for crypto risk messaging

The UK Advertising Standards Authority (ASA) banned a series of Coinbase adverts on the basis that they irresponsibly suggested crypto could be a solution to cost-of-living pressures and failed to adequately communicate risk, reflecting continued scrutiny of consumer-facing crypto promotions. (The Guardian) While not a court action, it is a meaningful enforcement signal for firms marketing digital-asset services to UK consumers, particularly on “risk trivialization” and “complex products presented as simple solutions.” (The Guardian)

Compliance and Industry Implications

Product structuring and disclosure for tokenized securities (US)

The SEC staff statement increases the compliance premium on precise structural characterization. Firms should be able to explain, in plain terms, whether the token is:

the issuer’s own security recorded onchain,

a token used as a transfer mechanism while the “master” ownership record remains offchain,

a third-party security entitlement, or

a synthetic “linked” exposure resembling a structured note or, in some cases, a security-based swap. (sec.gov)

For exchanges, broker-dealers, ATS operators, and custodians, this taxonomy has direct downstream effects on: registration posture, customer disclosures, custody/control frameworks, books-and-records, and conflicts/agency disclosures.

Sanctions compliance expectations are becoming more operational and time-sensitive (UK)

OFSI’s messaging, together with the multi-agency “fusion cell” approach, supports a view that sanctions compliance in crypto is moving beyond policy documents into rapid triage, intelligence-led inquiries, and coordinated disruption. (ofsi.blog.gov.uk)

Compliance teams should stress-test:

screening and blockchain analytics escalation pathways,

wallet attribution and sanctions-list update latency,

controls for exposure to mixers, high-risk bridges, and sanctioned infrastructure,

governance for when to self-disclose and how to preserve evidence for potential Early Account or settlement discussions. (ofsi.blog.gov.uk)

Marketing and financial-promotion controls remain a frontline regulatory risk (UK)

The ASA decision reinforces that crypto advertising risk is not limited to formal “financial promotions” rules. Consumer-protection bodies can and do intervene where messaging implies crypto is a practical fix for economic hardship or underplays volatility and loss risk. (The Guardian)

Firms operating in, or targeting, the UK should review:

creative approval workflows,

claims substantiation files,

prominence and clarity of risk warnings,

restrictions on “problem-solution” narratives that could be read as exploiting consumer vulnerability.

Outlook

Key items to watch next:

Further SEC staff guidance or follow-on engagement on tokenized securities. The January 28 statement signals openness to dialogue and may precede additional staff FAQs or market-structure proposals affecting tokenized instruments and intermediaries. (sec.gov)

OFSI’s updated Enforcement and Monetary Penalties guidance (February 2026). OFSI indicates multiple process changes will take effect through updated guidance, with legislative changes (including increased statutory maximum penalties) to follow when parliamentary time allows. (ofsi.blog.gov.uk)

UK cross-agency crypto sanctions operations. The “fusion cell” posture suggests continued joint activity and potential public enforcement outcomes, particularly where firms have weak controls around wallet screening, sanctions evasion typologies, and suspicious activity reporting. (ofsi.blog.gov.uk)

Ongoing advertising scrutiny for crypto services. The ASA ruling indicates that campaigns framed around macroeconomic stressors and “system critique” themes will be tested against consumer-risk standards, even where firms argue the messaging is satirical or rhetorical. (The Guardian)

This article was originally published as Crypto Law Briefing: SEC Tokenization Guidance, UK Sanctions and Ads Crackdown on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

US lawmakers opened a key markup session Thursday morning on a long-awaited crypto market-structure bill, signaling a pivotal step in clarifying how digital asset markets will be overseen in the United States. The Senate Agriculture Committee is scrutinizing the Digital Commodity Intermediaries Act, a proposal that has spanned months of debate as lawmakers and industry stakeholders press for a framework that moves beyond enforcement-only approaches. The session centers on 11 amendments addressing leadership at the CFTC, ethics provisions, and concerns about foreign influence in U.S. markets. Notably, Senator Roger Marshall’s card-swipe-fee amendment remains on the docket, though reports suggest he may not push for it this time around. As the markup unfolds, the balance of bipartisan support and potential flashpoints will help define the bill’s fate.

Key takeaways

The Senate Agriculture Committee is prepared to vote on 11 amendments to the Digital Commodity Intermediaries Act, testing how far lawmakers will go in reshaping oversight for crypto markets.

Amendments under consideration cover leadership at the CFTC, ethics standards for regulators, and protections against foreign interference in U.S. markets.

A provision proposed by Senator Roger Marshall related to credit-card swipe fees remains on the schedule, but reporting indicates he may refrain from pushing for it in this markup.

The debate reflects a broader congressional push to establish a formal market-structure framework rather than relying solely on enforcement actions.

Observers will watch for signs of bipartisan alignment or friction that could influence the bill’s trajectory beyond the committee stage.

Tickers mentioned:

Sentiment: Neutral

Market context: The markup comes amid a broader regulatory tightening cycle for crypto markets in the United States, with lawmakers weighing how a formal framework could affect market structure, risk, and innovation while agencies calibrate their oversight.

Why it matters

The Digital Commodity Intermediaries Act represents a deliberate step toward codifying the responsibilities and authorities of market intermediaries in the crypto space. By elevating questions of leadership at the primary regulator—the CFTC—and introducing ethics and governance guardrails, the bill seeks to reduce ambiguity around who polices emerging digital-asset activities and how conflicts of interest are handled. If enacted, the legislation could set a precedent for how crypto intermediaries operate within a U.S. framework that lawmakers argue should be both protective of investors and transparent about market mechanisms.

For the industry, the markup is a critical signal about whether Congress intends to pursue a collaborative path that blends technical standards with a clearer regulatory mandate, or whether partisan disagreements could stall progress. Proponents argue a formalized regime would bring more predictability to the market, potentially improving risk management, compliance, and consumer protections. Critics, however, warn that rapid regulatory changes could narrow space for innovation or push certain activities to overseas venues. The ongoing discussions around leadership at the CFTC, ethics oversight, and foreign interference probes illustrate the multifaceted nature of the debate and the precision required to avoid stifling legitimate experimentation while curbing risky behavior.

The conversation also highlights the role of regulatory clarity in shaping market liquidity and investor confidence. As market participants adapt to the prospect of a recognized framework, there is keen interest in how such a framework would interact with current enforcement actions, cross-border activities, and the evolving array of financial products tied to digital assets. The discourse underscores a broader regulatory objective: to delineate clear lines of responsibility without undermining the competitive dynamics that drive innovation in the sector.

Details emerging from the markup illuminate the specific areas lawmakers are prioritizing. Debates over CFTC leadership touch on the balance of independence and accountability, while ethics provisions are aimed at ensuring decision-makers operate within transparent and well-defined boundaries. The foreign-interference angle adds a geopolitical layer to the domestic regulatory puzzle, signaling that the committee intends to consider not just technical standards but also resilience against external influence. The potential implications extend beyond the immediate bill, shaping how market participants plan compliance strategies and how investors assess risk in a rapidly evolving landscape.

For readers tracking regulatory developments, the markup also provides a live portrait of how bipartisan collaboration is navigating a historically complex issue. The combined focus on governance, ethics, and foreign influence suggests lawmakers are trying to build a durable framework that can withstand political shifts while addressing core market integrity concerns. The ongoing discourse will likely influence subsequent legislative drafts and could determine whether the bill becomes a substantive law or a stepping stone toward further refinement in future sessions.

Headlines arising from the markup may also influence related policy conversations. For example, references to CFTC leadership and ethics highlight potential avenues for formalizing regulator appointments and oversight. The broader implication is a U.S. market structure that aspires to reduce ambiguity about who has the final say in a landscape where innovation and risk often move faster than traditional governance models. The result could be a more legible playing field for exchanges, custodians, and other market participants seeking regulatory certainty.

For those monitoring the legislative process, the specific amendments on the table—ranging from leadership at the CFTC to ethics norms and foreign interference safeguards—will be critical to assess as the session progresses. The dynamic is indicative of a broader strategy: move the market structure conversation from ad hoc enforcement to a deliberate, codified framework that defines responsibilities, remedies, and accountability in the crypto marketplace.

Two linked articles provide additional context about the ongoing discussions: one examines proposed amendments to the market-structure bill and the potential impact on CFTC leadership, while the other notes that Senator Marshall’s critique of credit-card swipe-fee provisions could influence the bill’s final form. See the discussions here: vote on amendments, suggested that he would not push.

What to watch next

11 amendments to the Digital Commodity Intermediaries Act: final dispositions and potential amendments to the bill’s language.

Votes on whether to adopt amendments addressing CFTC leadership, ethics standards, and foreign interference safeguards.

Decisions on whether any provisions around payment rails or fee structures move forward in this iteration of the bill.

Public and industry feedback shaping the bill’s trajectory toward floor consideration and potential conference discussions.

Sources & verification

Senate Agriculture Committee markup coverage on the Digital Commodity Intermediaries Act and the 11 amendments under consideration.

Related coverage on amendments to leadership at the CFTC and ethics provisions within the markup context.

The Marshall card-fee provision discussion and its potential treatment during the markup.

Lawmakers advance crypto market structure debate as amendments take center stage

The current markup session represents a concerted push to translate high-level regulatory ambitions into concrete, enforceable provisions. As members of the Senate Agriculture Committee weigh 11 amendments, the debate covers a wide spectrum—from who should lead the securities and commodities regulators to how ethics rules should govern regulators’ conduct and how foreign actors might influence U.S. markets. The unfolding conversation is not merely procedural; it speaks to a broader question about how the United States will balance oversight, innovation, and market integrity in a space that continues to evolve rapidly.

While some lawmakers advocate for a robust, prescriptive framework that preempts ambiguity and reduces regulatory gaps, others caution against overreach that could hamper innovation or push activity offshore. The outcome of this markup—whether amendments pass or fail, and what language survives—will influence how market participants structure their compliance programs, how exchanges and intermediaries design products, and how investors assess risk in a landscape that remains highly dynamic.

In the near term, observers will be watching for the committee’s reaction to the proposed amendments and whether any cross-party consensus emerges around core principles. The legislative path ahead remains uncertain, but the markup marks a critical inflection point in the ongoing effort to codify the governance of digital-asset markets, with implications for regulatory clarity, market resilience, and the tempo of innovation inside and outside the United States.

As the discussion continues, the overarching objective remains clear: to strike a balance between robust oversight and the freedom needed to foster responsible innovation in a sector that continues to draw significant public and investor interest.

This article was originally published as US Senate Opens Markup on Long-Awaited Crypto Market Structure Bill on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Editor’s note: Kaspersky has introduced a new online tool aimed at helping industrial organizations in the Middle East put a financial lens on operational technology cybersecurity risk. The OT Calculator is designed to translate technical exposure into estimated costs and savings, giving executives clearer inputs for budget and investment decisions. As industrial systems across energy, utilities, transport, and manufacturing become more connected, cyber incidents increasingly carry measurable business impact. This launch sits at the intersection of cybersecurity, digital infrastructure, and regional industrial growth, where quantifying risk is becoming as important as mitigating it.

Key points

Kaspersky launches an OT-focused calculator to estimate the financial impact of inadequate industrial cybersecurity.

The tool targets senior management by framing cyber risk in monetary terms rather than technical metrics.

Users input sector, region, company size, breach history, and controls to receive tailored estimates.

Results are benchmarked against industry peers using VDC Research and Kaspersky data.

Why this matters

Industrial activity is a core pillar of economic diversification across the GCC, making operational resilience a strategic concern. Cyber incidents in OT environments can disrupt production, logistics, and critical services, with costs that extend beyond IT teams. Tools that connect cybersecurity posture to financial outcomes can help align security leaders and executives, support more informed investment decisions, and reduce underfunding of protection measures as industrial digitalization accelerates in the region.

What to watch next

Adoption of the OT Calculator by industrial firms across GCC markets.

How organizations use the results to adjust cybersecurity budgets and priorities.

Potential integration of calculator insights into broader risk and resilience planning.

Disclosure: The content below is a press release provided by the company/PR representative. It is published for informational purposes.

Kaspersky launches OT Calculator to help Middle East industrial companies better quantify cyber risk

Dubai, January 29, 2026

Kaspersky has launched an OT Calculator specially designed for industrial companies to assess the potential costs associated with insufficient operational technology (OT) security. By offering detailed financial forecasts, the calculator empowers senior management to make well-informed decisions regarding security investments.

Industrial organizations increasingly depend on interconnected systems, elevating cybersecurity to a critical factor in business resilience and profitability. According to a VDC Research study of 250 OT and IT decision-makers across energy, utilities, transportation, logistics, and other industrial sectors, over 60% of industrial companies reported last year that cybersecurity breaches had led to significant costs.

With the economic significance of the industrial sector rising across the GCC, managing the financial downside of cyber threats is a growing priority for industrial companies across the Middle East.

Despite the cost of cybersecurity breaches, a persistent disconnect remains between security teams and executive leadership as security professionals focus on minimizing risk, while executives must balance cybersecurity concerns with broader business objectives. This misalignment often results in competing priorities and underfunded security initiatives.

 

Press Release: Kaspersky Launches Ot Calculator To Help Middle East Industrial Companies Better Quantify Cyber Risk

To bridge this gap, Kaspersky has launched the OT Cybersecurity Savings Calculator, an innovative online tool designed specifically for industrial organizations to assess the potential costs of inadequate operational technology (OT) security[1].

The primary aim of this tool is to translate cyber risks into tangible financial metrics and support strategic discussions around priorities and budget allocation. By entering details such as their sector, sub-sector, region, company size, breach history, and existing cybersecurity measures, organizations can estimate their potential cost savings and receive customized, actionable recommendations. The calculator benchmarks performance against industry peers and highlights the company’s position within the current threat landscape.

“We believe this calculator is a powerful resource for transforming complex cyber risk data into straightforward financial insights. It enables OT leaders, security professionals, and executive teams to develop clear, data-driven business cases and recognize the value of cybersecurity investments. With actionable guidance, it promotes a comprehensive approach to resource management and strengthens overall organizational resilience,” comments Andrey Strelkov, Head of Industrial Cybersecurity Product line at Kaspersky.

Across the GCC, industry is becoming a larger pillar of national growth plans. The UAE’s Operation 300bn targets lifting the industrial sector’s GDP contribution from AED 133bn to AED 300bn by 2031, while Saudi Arabia reports that National Industrial Development and Logistics Program (NIDLP) activities contributed SAR 986bn to non-oil GDP in 2024. Meanwhile, Qatar launched the National Manufacturing Strategy 2024–2030 aligned with its Third National Development Strategy to expand and upgrade manufacturing.

Use the OT Cybersecurity Savings Calculator to assess your results in comparison to peer organizations.

Kaspersky also offers the IT Security Calculator, a tool designed to assess the average cybersecurity budgets and security measures implemented across non-industrial sectors.

About Kaspersky

Kaspersky is a global cybersecurity and digital privacy company founded in 1997. With over a billion devices protected to date from emerging cyberthreats and targeted attacks, Kaspersky’s deep threat intelligence and security expertise is constantly transforming into innovative solutions and services to protect individuals, businesses, critical infrastructure and governments around the globe. The company’s comprehensive security portfolio includes leading digital life protection for personal devices, specialized security products and services for companies, as well as Cyber Immune solutions to fight sophisticated and evolving digital threats. We help millions of individuals and nearly 200,000 corporate clients protect what matters most to them. Learn more at www.kaspersky.com.

Practical benchmarks and financial forecasts provided within the Calculator are based on insights from a joint study conducted by VDC Research and Kaspersky. ↑

This article was originally published as Kaspersky Launches OT Calculator to Quantify Middle East Cyber Risk on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Saudi Arabia is set to open its capital markets more widely than at any point in recent history. From February 1, the Kingdom will abolish its Qualified Foreign Investor framework, removing long-standing barriers that limited direct participation in the Tadawul to a narrow group of global institutions. The change follows the 2025 Investment Law and eliminates minimum asset thresholds of around $500 million alongside complex licensing rules. According to industry executives working closely with Saudi authorities, the reform signals a broader shift that extends beyond equities into how real-world assets could be issued, owned, and settled in the years ahead.

Key takeaways

Saudi Arabia will scrap the Qualified Foreign Investor regime on February 1, removing high asset and licensing requirements for foreign investors.

The reform is the largest single liberalization of the Tadawul to date and builds on the 2025 Investment Law.

Lower entry barriers are expected to increase daily participation from global investors rather than episodic inflows.

Executives close to policymakers argue the change reflects a deeper overhaul of financial market infrastructure.

Regulatory moves in real estate tokenization suggest Saudi Arabia is laying groundwork for large-scale real-world asset settlement.

Sentiment: Bullish

Price impact: Neutral. The reform reshapes market access and structure, with effects expected to play out gradually rather than through an immediate repricing.

Market context: The move comes as jurisdictions across the Gulf compete to attract long-term capital and experiment with tokenized market infrastructure under broader Vision 2030-style economic diversification agendas.

Why it matters

The abolition of the QFI framework removes a symbolic and practical barrier that has defined how international investors engaged with Saudi markets for more than a decade. By lowering thresholds, the Kingdom signals that foreign participation is no longer a privilege reserved for the largest asset managers, but a core component of its capital markets.

Beyond equities, the reform aligns with a wider push to modernize ownership, settlement, and enforcement across asset classes. Tokenization initiatives in areas such as real estate suggest regulators are thinking about market access and infrastructure as a single system rather than isolated policy changes.

For global investors and builders, the significance lies less in short-term flows and more in the emergence of a market that expects to be continuously priced and integrated into global portfolios, supported by modern legal and technical frameworks.

What to watch next

Initial changes in foreign participation levels on the Tadawul after February 1.

Further regulatory guidance following the 2025 Investment Law implementation.

Expansion or pilots of real estate token standards introduced by the regulator.

Signals from policymakers on how tokenized assets will integrate with existing settlement systems.

Sources & verification

Official announcements on the abolition of the Qualified Foreign Investor framework.

Text and implementation details of Saudi Arabia’s 2025 Investment Law.

Statements from the real estate regulator on its blockchain-based token standard announced in November 2025.

Public commentary from market participants working with Saudi authorities.

Opening Saudi markets and the implications for tokenization

Saudi Arabia’s decision to abolish the Qualified Foreign Investor regime represents a structural shift in howadul access rather than a marginal regulatory adjustment. For years, foreign institutions seeking direct exposure to Saudi equities faced minimum asset requirements of roughly $500 million under management, alongside an application process that favored only the largest global firms. From February 1, those constraints will no longer apply.

The change follows the passage of the 2025 Investment Law and is widely viewed as the most consequential liberalization of the Tadawul since its creation. By simplifying access, policymakers aim to transform the exchange from a market that international investors visit selectively into one that is monitored and priced on a daily basis.

According to Faisal Al Monai, chief executive of droppRWA, a tokenization platform working closely with Saudi government entities, the reform should be understood as part of a broader redesign of market infrastructure. In his view, eliminating the QFI gate is about reducing friction between global capital and domestic growth rather than merely increasing foreign ownership quotas.

Al Monai argues that the real significance becomes clearer when looking beyond equities. Over the past few years, Saudi regulators have focused on what he describes as the “plumbing” of the financial system, rethinking how assets are owned, transferred, and enforced. This approach contrasts with incremental reforms seen in other markets and reflects a willingness to rebuild core structures from the ground up.

A notable example came in November 2025, when the Saudi real estate regulator REGA announced a blockchain-based token standard for property. The move was positioned as a world first, establishing a formal framework for representing real estate ownership on distributed ledgers. While still in its early stages, the initiative sent a signal that tokenization is being treated as settlement infrastructure rather than a speculative overlay.

In that context, the opening of capital markets and the development of token standards appear interconnected. Lowering barriers to participation makes sense if ownership rights and enforceability are simultaneously strengthened at the market level. For proponents of real-world asset tokenization, this combination is essential for moving the concept from pilot projects to national-scale deployment.

Al Monai contends that when legal clarity and technical standards align, tokenized assets can deliver faster settlement, improved auditability, and reduced operational risk. These characteristics are particularly relevant in markets managing large volumes of real assets, from property to infrastructure, where traditional processes can be slow and opaque.

For international investors, the immediate impact of the QFI abolition may be subtle. Asset managers will need time to adjust internal processes, assess liquidity, and integrate Saudi equities into broader strategies. However, the long-term implication is a market that expects consistent global engagement rather than episodic interest tied to index inclusions or major listings.

The reform also reflects Saudi Arabia’s broader Vision 2030 agenda, which emphasizes diversification, private sector participation, and the modernization of institutions. By embedding these goals into market structure, rather than relying solely on incentives or promotional campaigns, authorities aim to create durable change.

There are, of course, open questions. How quickly foreign participation will increase remains uncertain, as does the pace at which tokenization standards will translate into live, widely used platforms. Coordination between regulators, exchanges, and technology providers will be critical to avoid fragmentation.

Still, the direction of travel is clear. By removing legacy barriers and investing in foundational infrastructure, Saudi Arabia is positioning its markets to operate on a scale and cadence comparable to established global exchanges. For investors and builders focused on the intersection of capital markets and tokenization, the Kingdom’s next phase will be difficult to ignore.

This article was originally published as Saudi Arabia Opens Capital Markets as QFI Exit Fuels Tokenization Push on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Editor’s note: This announcement outlines how bitcoin’s recent price action has diverged from early expectations tied to a more crypto-friendly political environment in the United States. Despite initial optimism following Donald Trump’s return to the White House, bitcoin has fallen nearly 20% over the past three months, reflecting broader macroeconomic pressures rather than regulatory narratives. According to eToro’s analysis, bitcoin is increasingly trading as a high-liquidity risk asset, influenced by interest rates, dollar liquidity, and overall risk appetite. The commentary highlights how macro forces, not political rhetoric, are currently shaping digital asset markets.

Key points

Bitcoin is down nearly 20% over the past three months despite a friendlier political tone toward crypto.

Market behavior is driven by macro factors such as interest rates, liquidity, and risk sentiment.

Gold and silver have attracted safe-haven flows, outperforming bitcoin over the past year.

Supportive crypto policy is seen as a marginal, gradual influence rather than a short-term price catalyst.

Why this matters

The analysis underscores a shift in how bitcoin is perceived by investors, from a politically sensitive asset to one increasingly aligned with global liquidity cycles. For traders, builders, and long-term holders, this reinforces the importance of macroeconomic conditions in shaping near-term performance. In a market where institutional participation continues to grow, understanding these drivers is critical for risk management and realistic expectations around policy impact.

What to watch next

Changes in global interest-rate expectations and dollar liquidity conditions.

Shifts in investor risk appetite across equities, commodities, and digital assets.

How institutional flows into bitcoin evolve relative to traditional safe-haven assets.

Disclosure: The content below is a press release provided by the company/PR representative. It is published for informational purposes.

Abu Dhabi, United Arab Emirates – January 29, 2026: While Trump’s return to the White House initially coincided with bitcoin pushing to new record highs, that early optimism has faded. Expectations of lighter regulation and a more industry-friendly stance have yet to translate into sustained upside, with bitcoin down nearly 20% over the past three months. Investors have quickly learned that supportive rhetoric alone is not enough—particularly in a market now driven by macro forces rather than internal crypto narratives.

Bitcoin is behaving less like a political trade and more like a high-liquidity risk asset, responding primarily to dollar liquidity, interest-rate expectations and broader risk sentiment. With gold absorbing much of the safe-haven demand and equities continuing to attract growth capital, there has been little urgency to rotate meaningfully into bitcoin, even against a friendlier regulatory backdrop. Gold and silver have delivered stellar performance over the past 12 months, attracting strong investor flows and generating ‘bitcoin-like’ returns that have left bitcoin trailing.

The key takeaway for investors is that friendlier crypto policy helps at the margins, but it does not override macro conditions or deliver an overnight turnaround. While Trump continues to speak positively about crypto, his focus appears to be elsewhere—ranging from geopolitics to broader economic priorities—meaning markets cannot rely on political headlines alone to drive prices higher.

Sam North, Market Analyst At Etoro

Bitcoin’s long-term case remains intact, supported by structural demand and institutional participation, but in the current environment price action is being driven by liquidity and risk appetite, not politics. Any benefits from a more crypto-friendly stance are likely to materialise gradually over time rather than as an immediate boost to prices,” said Sam North, Market Analyst at eToro.

Media Contact:
PR@etoro.com

About eToro

eToro is the trading and investing platform that empowers you to invest, share and learn. We were founded in 2007 with the vision of a world where everyone can trade and invest in a simple and transparent way. Today we have 40 million registered users from 75 countries. We believe there is power in shared knowledge and that we can become more successful by investing together. So we’ve created a collaborative investment community designed to provide you with the tools you need to grow your knowledge and wealth. On eToro, you can hold a range of traditional and innovative assets and choose how you invest: trade directly, invest in a portfolio, or copy other investors. You can visit our media centre here for our latest news.

This article was originally published as Bitcoin drops almost 20% as gold delivers “bitcoin-like” returns on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Citrea, a Bitcoin-native ZK-rollup backed by Founders Fund and Galaxy Ventures, launched its mainnet on Tuesday, delivering BTC-collateral lending, BTC-structured products, and a new dollar-backed stablecoin, ctUSD. The project, developed by Chainway Labs, positions itself as an on-chain engine that converts idle BTC into core DeFi liquidity and enables closer settlement to Bitcoin’s base layer. In its early days, Citrea projects DeFi activity to reach about $50 million in liquidity as BTC lending, BTC-structured products, and decentralized trading go live from day one, with ctUSD anchoring that activity in a compliant, on-chain fashion.

The launch thrust Citrea into a familiar debate about the allocation of scarce Bitcoin block space: should it be reserved for payments or harnessed to power a broader financial stack? With block rewards trending lower over time, many developers argue that non-payment use cases are essential to sustaining miner revenue. Critics, however, warn that complex DeFi infrastructure built on top of Bitcoin may introduce new risk layers to a network historically prized for censorship resistance and simplicity.

Key takeaways

Citrea’s mainnet introduces BTC-collateral lending and BTC-structured products on a native rollup, with ctUSD serving as the primary dollar-pegged stablecoin (CRYPTO: CTUSD).

ctUSD is issued 1:1 with cash and short-term US Treasuries backing and leverages MoonPay’s banking rails, embedding fiat on- and off-ramps directly into the Layer 2 settlement layer.

The stablecoin is designed to be the single, preferred liquidity anchor for Citrea, aiming to avoid liquidity fragmentation that typically arises from bridged asset variants.

On the testnet, data-availability usage reached almost 10% of Bitcoin’s monthly bandwidth at one point, signaling meaningful early activity even before full mainnet adoption.

The launch rekindles the broader industry discussion about the balance between Bitcoin’s block space constraints and the growth of on-chain DeFi ecosystems built atop Bitcoin’s security guarantees.

Tickers mentioned: $BTC, $USDT, $USDC, $CTUSD

Sentiment: Neutral

Market context: The move sits at the intersection of Bitcoin’s evolving role as a settlement layer and the broader DeFi push into alternative layer-2 constructions, aligning with ongoing industry experimentation around scalable, regulated fiat-backed tokens on Bitcoin-adjacent systems.

Why it matters

Citrea’s mainnet marks a noteworthy attempt to redeploy Bitcoin’s scarce block space toward productive financial uses. By tying a Bitcoin-anchored rollup to a regulated, cash-backed stablecoin, the project aims to reduce the liquidity fragmentation that often accompanies cross-chain solutions. ctUSD is issued directly on the Citrea rollup rather than bridged from another chain, which Citrea’s leadership argues reduces exposure to common cross-chain risks and collateral vulnerabilities that can accompany wrapped assets.

Orkun Mahir Kılıç, the co-founder and CEO of Chainway Labs—the team behind Citrea—describes ctUSD as native to the rollup and integrated with MoonPay’s banking rails, including virtual IBANs that enable fiat to be wired in and settled on-chain automatically. This approach is intended to streamline onboarding for users and institutions that require regulated rails for fiat-to-crypto movements, potentially lowering friction for Bitcoin-denominated DeFi interactions. In practical terms, ctUSD’s 1:1 backing in cash and short-dated Treasuries is positioned as a safer alternative to stamped-wrapped tokens that often rely on third-party solvency guarantees.

The design emphasizes security and consolidation. ctUSD’s native issuance on the Citrea chain means the stablecoin inherits the security properties of the Citrea network itself, rather than relying on external bridges that have historically been a hotspot for exploits. Advocates argue this reduces the external risk profile typically associated with cross-chain liquidity but acknowledge that the trade-off is a more centralized sequencing and treasury structure—the so-called “single sequencer” and a private, on-chain treasury with multi-party governance. Critics counter that such trust assumptions could shift systemic risk from on-chain code to off-chain operational controls, raising questions about decentralization and resilience.

On the broader front, the project is framed as an experiment about demand for Bitcoin block space. Bitcoin core developers and industry observers have noted that future miner revenue may increasingly depend on non-payment use cases. The debate is far from settled: if Citrea and similar ventures can demonstrate sustained, productive demand for block space—without undermining Bitcoin’s core reliability—the model could influence how the network balances throughput, fees, and security in a mature DeFi era. A notable point of discussion is whether complex DeFi activity truly complements Bitcoin’s mission or if it creates an overbuilt infrastructure that competes with Bitcoin’s primary function as a trustworthy payments network.

In the broader crypto ecosystem, the move echoes a wave of experimentation where other teams have pursued Bitcoin-focused DeFi applications, including collaborations and cross-ecosystem initiatives. For instance, partnerships that bring Bitcoin DeFi tools to institutions in Japan have highlighted the appetite for regulated, Bitcoin-linked financial services, underscoring a market that is increasingly receptive to institutional-grade rails and compliant stablecoins built around BTC.

Citrea’s early data on testnet activity underscores a meaningful appetite for on-chain Bitcoin usage. In its test phase, Citrea reported that data-availability usage accounted for a notable share of Bitcoin’s bandwidth, suggesting that even pre-launch activity can exert real pressure on block space. If the mainnet proves scalable and capable of sustaining $50 million in DeFi liquidity over the coming weeks, it could set a precedent for how Bitcoin-based Rollups approach liquidity, borrowing, and collateral across the ecosystem.

What to watch next

Monitoring ctUSD adoption: tracking on-chain utilization, liquidity depth, and user uptake as ctUSD becomes the standard base liquidity token on Citrea.

Regulatory and banking integration steps: assessing how MoonPay’s rails and vIBAN-based payments evolve to support broader institutional participation.

Security and governance developments: evaluating the trust model around the single sequencer, off-chain treasury, and multi-party federation, and how that affects security guarantees.

Liquidity growth metrics: watching the rate at which BTC-denominated DeFi products and collateralized lending scale beyond the initial $50 million target.

Industry comparison: observing how Citrea’s approach stacks up against other Bitcoin DeFi initiatives and cross-chain bridges in terms of risk, capital efficiency, and user experience.

Sources & verification

Citrea mainnet launch announcement and details on the Pr Newswire release documenting BTC collateral lending, BTC-structured products, and ctUSD.

Statements from Orkun Mahir Kılıç, co-founder and CEO of Chainway Labs, regarding ctUSD being natively issued on the Citrea rollup and wired into MoonPay’s infrastructure (vIBANs).

Testnet data showing significant data availability usage, illustrating early demand on Bitcoin block space.

Industry commentary on Bitcoin block space and DeFi use cases, including perspectives from Bitcoin core developers and prominent community members.

Related industry coverage, including Animoca, RootstockLabs collaboration on Bitcoin DeFi and broader market analyses.

Citrea’s Bitcoin-native DeFi experiment lands on mainnet

Bitcoin (CRYPTO: BTC) stands at the center of Citrea’s ambitious push to reimagine how its network’s scarce resources can power a DeFi stack. The project’s mainnet launch introduces a native BTC-collateral lending framework, BTC‑structured products, and ctUSD (CRYPTO: CTUSD), a stablecoin issued directly on the rollup rather than bridged from another chain. ctUSD is designed to be the core liquidity layer for the Bitcoin economy, backed 1:1 by cash and short‑term US Treasuries, and wired into fiat rails via MoonPay’s infrastructure. The arrangement promises to simplify on‑ramp and settlement flows while anchoring DeFi activity to Bitcoin’s security model.

From the outset, ctUSD is positioned as a compliant counterweight to wrapped versions of other dollars, with the intent of avoiding liquidity fragmentation that can arise when similar assets exist across multiple bridges. The stablecoin’s native issuance aims to minimize cross‑chain risk by keeping collateral and settlement within Citrea’s consolidated ecosystem. In practical terms, ctUSD’s 1:1 backing by cash and Treasuries provides a straightforward, auditable reserve model, and the on‑ramp through traditional rails may appeal to institutions seeking regulated exposure to Bitcoin‑denominated liquidity.

Critical to the project’s architecture is a belief that Bitcoin should not be confined to a single function. Citrea emphasizes that its rollup inherits the security properties of Bitcoin’s base layer, avoiding the common transfer of risk seen in bridging scenarios. Critics caution that the model retains considerable off‑chain trust assumptions, including the role of a single sequencer and a multi‑party federation, which could introduce governance and operational risks even as they simplify certain on‑chain mechanics. The debate over “on‑chain DeFi on Bitcoin” continues, but Citrea’s mainnet provides a concrete, observable milestone that tests whether a Bitcoin‑anchored DeFi layer can deliver sustainable liquidity and reliable settlement.

Early activity on the testnet offered a glimpse into the demand for Bitcoin block space in DeFi contexts. Citrea reported that data availability usage early in the cycle amounted to a meaningful share of Bitcoin’s monthly bandwidth, a signal that even pre‑launch engines can drive real congestion and fee pressure if scaling proves feasible. As the project moves from testnet signals to full mainnet liquidity, observers will be watching how quickly lending, trading, and structured products develop the kind of organic usage that supports miners’ fee revenues without compromising network resilience.

In the broader crypto landscape, Citrea’s approach intersects with a growing appetite for regulated, Bitcoin‑backed financial infrastructure. Proponents argue that a well‑designed, Bitcoin‑anchored DeFi layer could unlock new forms of liquidity for BTC holders, reduce the reliance on non-Bitcoin bridges, and create a more cohesive Bitcoin economy. Skeptics, meanwhile, worry about overloading Bitcoin’s capacity and introduce concerns about centralized trust models. The truth likely lies somewhere in between: if Citrea demonstrates sustained liquidity growth, robust security guarantees, and clear risk controls, it could influence how market participants conceptualize the use of Bitcoin block space for financial dApps rather than payments alone.

The broader narrative continues to unfold as other projects explore Bitcoin DeFi and institutions weigh regulated access to Bitcoin‑denominated liquidity. While opinion remains divided, Citrea’s mainnet provides a real‑world test case for mounting Bitcoin‑centric DeFi activity on a native rollup that’s tightly linked to regulated fiat rails. If ctUSD proves scalable and reliable—and if liquidity grows toward the $50 million target in coming weeks—the model could catalyze further experimentation aimed at harmonizing Bitcoin’s security with a broader, on‑chain financial ecosystem.

This article was originally published as Citrea Bitcoin Rollup Debuts Mainnet With ctUSD Stablecoin on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitcoin (CRYPTO: BTC) whispered toward a key milestone in a cautious pre-FOMC session, but failed to clear the near-term overhead at $90,000 as traders weighed macro signals and sector-specific dynamics. The market’s pulse suggested a potential revival if the BTC/USD pair can convincingly reclaim the $93,000 level, a threshold that would pivot sentiment toward a possible upside breakout. While spot ETFs have cooled their selling pressure, on-chain data and institutional behavior remain a deciding factor for the next leg higher. This mix of technical resistance and evolving demand conditions frames the immediate risk-reward for traders heading into the Federal Reserve’s policy decision window.

Bitcoin’s current drift sits within a defined range. The asset has traded between approximately $86,000 and $90,000 in recent sessions, a corridor that analysts say has persisted since mid-January. The broader chart setup points to a battleground just above the 50-day simple moving average at $90,000 and beneath a ceiling near the 100-day SMA around $94,000. In practical terms, a clean close and hold above $93,000 would shift the narrative, signaling that the long-downward sequence could be easing and that demand may re-enter in a more sustained fashion. As market observers have noted, several on-chain indicators and veteran voices have begun to frame the next move as a test of whether bulls can convert resistance into a new base of support.

Additionally, a macro backdrop dominated by liquidity considerations and policy uncertainty continues to color price action. The immediate overshoot risk remains tethered to the pace at which institutional buyers and related products return to the market. The ETF narrative—long a source of both enthusiasm and apprehension for the space—has shown signs of stabilization on the selling side, but meaningful upside hinges on renewed inflows rather than mere price speculation. In other words, a shift from a liquidity-driven pause to an actual revival in demand could be the catalyst that lifts Bitcoin from a prolonged consolidation phase toward a fresh up-leg.

From a purely technical vantage point, the market has been watching for a decisive break above the moving averages, a pattern that historically precedes more aggressive upside. A number of analysts emphasized that reclaiming the $93,000 threshold would be important for shifting momentum back into the bullish camp. A sustained push beyond that zone could unlock the possibility of retesting higher resistance near $98,000, a scenario that would mark a meaningful reset of the corrective phase that has characterized the last several weeks. In this context, traders are paying close attention to how the order book shapes up around the critical level, and whether a liquidity cluster could form around the mid-$93,000s on the path to higher levels.

On-chain and macro-derived signals echo a similar sentiment: a return of genuine institutional demand would likely be a decisive inflection point for BTC’s trajectory. Glassnode recently highlighted that US spot Bitcoin flows are stabilizing, with the 30-day moving average drifting toward neutral after a period of persistent outflows. The message from the on-chain data provider is clear: if flows can re-accelerate into positive territory, a renewed trend continuation would gain credibility. Yet, the current data also underscores that the market remains more reliant on spot holder conviction than on ETF-driven demand, a nuance that shapes how investors interpret near-term risk and reward.

The ETF angle has also carried important nuance. After a stretch of heavy outflows, industry data suggest that the selling pressure may be abating, but the pace and durability of any re-entry are not guaranteed. Capriole Investments provided a cautionary counterpoint by illustrating a reduced cadence of Bitcoin treasury purchases among corporate buyers, suggesting that institutional demand remains uneven at best. The spotlight, therefore, remains squarely on two fronts: a potential reawakening of ETF inflows and a broader unwinding of corporate treasuries’ caution.

“Get back above $93,000, and bulls are firmly back in the driver’s seat.”

BTC/USD three-day chart. Source: Jelle

Among notable developments, a major corporate event stands out. Michael Saylor’s Strategy represents the most sizable known corporate Bitcoin treasury, and its recent activity drew attention to how much weight corporate balance sheets still carry in the market. The firm disclosed a fresh purchase of 2,932 BTC for about $264.1 million, lifting its total holdings to 712,647 BTC, with an average cost basis around $76,037 per coin. The move suggests that, despite broader selling fatigue at the retail and institutional levels, there remains a segment of the market that sees long-term value in accumulating BTC on weakness. The impact of these macro and micro dynamics continues to reverberate through the market’s risk channels, reinforcing the idea that the path of least resistance could shift if liquidity conditions improve and institutional appetite returns.

Meanwhile, analysts have continued to weigh the likelihood of a breakout in the context of liquidity and how the market behaves around critical levels. A prominent line of thought is that if Bitcoin can clear the $93,000 area decisively, the ensuing momentum could carry prices toward the $98,000 resistance zone, and perhaps beyond, as the downward bias loosens. Yet, until such a breakout is confirmed with a daily close above the level, the market remains vulnerable to protective selling and profit-taking, especially in the event of unexpected macro shifts or changes in forward guidance.

In short, the balance of factors remains finely poised. Bullish momentum could reassert itself if fresh capital inflows return to spot markets and ETFs, while a failure to sustain above the threshold could prolong the current consolidation. The narrative thus hinges on a combination of price action above key moving averages, on-chain flow dynamics, and institutional participation that could tilt the odds in favor of a sustained rally rather than a reversion to the lower end of the trading range.

Bitcoin ETF outflows diminish

One of the most closely watched catalysts for a renewed price push has been the ebb and flow of ETF demand. Following a period of notable outflows from spot Bitcoin ETFs, data suggest that selling pressure may be easing. Glassnode’s latest insights point to a stabilization in US spot Bitcoin flows, with the 30-day average inching toward neutral territory after a stretch of sustained outflows. This shift, while modest, could lay the groundwork for a more constructive backdrop if it translates into actual inflows and renewed demand for physical BTC exposure.

That said, the broader takeaway from on-chain analytics remains nuanced. The same data set stresses that the BTC market has leaned more on holders’ conviction rather than fresh ETF-driven demand in recent weeks. In practical terms, investors watching this space would benefit from distinguishing between a temporary stabilization in flows and a material reacceleration that would underpin a sustainable rally. If flows do re-accelerate into positive territory, the case for continued momentum would strengthen, potentially lifting prices through the $90,000 barrier and toward the higher end of the immediate range.

Capriole Investments’ data adds another layer of caution. It shows a sharp drop in new BTC purchases by treasury holders, suggesting that corporate demand has not yet returned with the vigor seen in some earlier periods. The dynamic is important because it mirrors a broader market reality: even as some retail and high-net-worth participants remain active, the institutional appetite to accumulate BTC on a large scale has shown episodic strength rather than consistent, long-term certainty.

Against this backdrop, the market’s most consequential mover remains the balance between on-chain activity and macro cues. The most meaningful signal would be a sustained shift in institutional demand that drives ETF inflows and a meaningful outflow reversal, catalyzing a fresh wave of buying across the spot market. The past few weeks have underscored how quickly sentiment can pivot on the perception of liquidity and policy guidance, and traders will be watching closely as the market approaches any forward guidance from major central banks.

Spot Bitcoin ETF net flows, 30DMA. Source: Glassnode

In the sense of on-chain dynamics, the narrative that previously centered on the ETF pipeline now coexists with a broader recognition that corporate balance-sheet decisions, treasury strategies, and large investor psychology will shape the next leg. The broad picture remains that the market is susceptible to a mix of positive catalysts—restored ETF inflows, renewed institutional buying, and a productive macro environment—and negative catalysts, including persistent hedging in derivatives markets and any hawkish pivots in monetary policy. The price path will likely reflect this tug-of-war, with a success or failure to breach the $93,000 barrier serving as a probable inflection point.

Bitcoin treasury companies buyers. Source: Capriole Investments

As this dynamic unfolds, the market’s attention remains fixed on whether the liquidity environment improves enough to sustain a rebound, or whether the absence of durable demand caps any upside gains. The implication for market participants is clear: any meaningful move higher will require a confluence of technical breakouts, on-chain confirmation, and genuine institutional interest—not simply a bounce on a short-term trader’s sentiment.

JUST IN: Strategy bought 2,932 BTC worth $264.1M.

They now hold 712,647 $BTC. pic.twitter.com/3lNqgcZYcl

— Cointelegraph (@Cointelegraph) January 26, 2026

Why it matters

The price action around $90,000 and the critical test at $93,000 have emerged as a deciding moment for market direction. If the market can convert resistance into support, it would validate a shift in momentum and potentially attract new capital from both hedged investors and traditional funds seeking crypto exposure. For traders, the implication is straightforward: a sustained move above $93,000 could open a path toward the mid-$90,000s and possibly higher, while a failure to hold could invite renewed consolidation in the near term. For corporate treasuries and larger players, the ongoing debate is about the sustainability of demand and the durability of ETF inflows, which will shape the tempo of future purchases and risk management strategies.

Investors should also keep a close watch on macro cues that influence liquidity and risk sentiment. The timing of any future Fed communications, as well as changes in the appetite for risk across asset classes, can have cascading effects on how BTC is priced in the near term. The evolving relationship between on-chain data and traditional financial instruments—etfs, equities linked to crypto, and futures markets—will continue to define Bitcoin’s macro narrative. In such an environment, disciplined risk controls and clear scenarios for different price outcomes remain essential for participants navigating this space.

Meanwhile, the narrative around corporate participation remains nuanced. While Strategy’s latest accumulation underscores the willingness of some large holders to build positions on dips, other treasury buyers appear to be more cautious, reflecting a broader market reality: institutional adoption of BTC still hinges on a confluence of favorable liquidity, policy clarity, and demonstrable demand that can sustain price momentum. In the absence of a decisive macro catalyst, traders may gravitate toward ranges, with the critical level at $93,000 acting as the fulcrum for the next leg of the cycle.

What to watch next

Watch for a weekly close above $93,000 to confirm a momentum shift.

Monitor ETF inflows and 30-day flow metrics for signs of renewed institutional demand.

Track corporate treasury activity and major purchases by large holders for evidence of durable demand.

Observe liquidity conditions in the broader market and any shifts in risk sentiment around FOMC communications.

Sources & verification

Glassnode insights on US spot Bitcoin flows and 30D moving average trends.

Capriole Investments data on Bitcoin treasury buyers and corporate purchases.

Strategy’s reported purchase of 2,932 BTC for $264.1 million and the resulting holdings update.

Deribit analysis on options activity and the implications for price action near the $90,000 zone.

On-chain and social signals referenced by analysts, including posts from CryptoJelleNL and Mark Cullen on X, discussing levels around $93,000.

Rewritten Article Body

Market reaction and key details

Bitcoin BTC remained tethered near the $90,000 mark as traders parsed the next move ahead of a pivotal Federal Reserve decision. The path forward hinges on whether the market can reclaim the $93,000 threshold and convert that level into a reliable base of support. The resistance band spanning roughly $90,000 to $94,000 remains a critical obstacle, with the 50-day moving average sitting at $90,000 and the 100-day around $94,000, creating a ceiling that requires a decisive breakout to re-accelerate momentum.

Analysts have highlighted the necessity of flipping the current resistance into support to rekindle the uptrend. A breach above $93,000 would not just be a statistical breakout; it would reframe market psychology, signaling that buyers are reclaiming control after a period of consolidation. The rhetoric around this level has been reinforced by traders who view it as a linchpin—the line in the sand that separates a corrective phase from a new leg higher.

On the other hand, a break below the lower end of the range would likely renew caution. In such a scenario, risk-off behavior could reassert itself, with market participants seeking safety and preserving capital rather than chasing a volatile advance. The current setup underscores a market that remains highly sensitive to macro cues, including policy guidance, liquidity metrics, and the flow of funds into and out of spot exposure via ETFs.

From the technical lens, multiple voices have argued that breaking above the key moving averages would unlock the doors to a rally toward the $98,000 zone and potentially higher. A sustained close above $93,000 would be a meaningful signal that the corrective phase could be ending, paving the way for a retest of higher levels if liquidity conditions cooperate. However, the path is not guaranteed; the market’s reaction to the Fed’s commentary and any accompanying shifts in risk appetite will play a decisive role in determining whether the breakout gains real traction or fades in a shallow pullback.

In parallel, the ETF landscape continues to influence the broader narrative. While ETF outflows have moderated, pointing to a stabilization in selling pressure, the absence of a robust inflow regime keeps the door open for a slower, more arduous ascent rather than a sprint higher. On-chain signals support this cautious view: Glassnode’s observations of stabilising flows suggest that any upside will require renewed conviction from institutions and a reacceleration of positive net inflows, beyond transient price movements.

Corporate activity offers another lens through which to gauge momentum. The latest data from Capriole Investments show a cooling in new BTC acquisitions by corporate treasuries, which contrasts with the earlier surge seen when market risk appetite briefly spiked. Yet, Mavericks of the space, like Strategy—the prolific Bitcoin treasury holder—continue to add significant quantities of BTC to their coffers, a move that could foreshadow a larger, more persistent institutional bid if other large players follow suit. The combination of a large, purposeful buyer on the one hand and a cautious corporate environment on the other paints a nuanced picture of the immediate horizon.

The confluence of on-chain dynamics, ETF flow patterns, and corporate activity will likely determine Bitcoin’s near-term trajectory. A decisive move beyond $93,000 would recalibrate risk and reinvigorate the narrative around a potential run toward higher resistance zones, while a failure to sustain those levels could prolong the current plateau. Traders are thus faced with a fragile balance: keep risk budgets tight in case of a false breakout, or position for a more persistent, multi-week advance should the macro signals align with technical breakout momentum.

In the broader context, the market remains acutely sensitive to liquidity and policy developments. A more accommodative policy stance or a clearer inflation trajectory could bolster risk-seeking behavior across crypto assets, while any tightening signal might retrastrate the price action, favoring cautious positioning and hedging. The interplay between ETF inflows, on-chain flow restoration, and corporate demand is the crucible in which Bitcoin’s next chapter will be forged.

The narrative remains that the path of least resistance depends on two closely linked variables: the sustained presence of genuine demand in traditional financial channels and the ability of BTC to maintain above critical technical thresholds. If both pieces align—flows turning positive and price action decisively clearing the 93k line—the market could shift from a phase of gradual accumulation to a renewed cycle of appreciation. Until then, the market will likely oscillate within the established range as investors await clarity on liquidity and macro policy.

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This article was originally published as Analysts: This Is The Key Step for Bitcoin to Break $90K on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bybit, one of the world’s largest crypto exchanges by trading volume, is expanding into everyday banking services with a new product that will roll out to users in February. The initiative, branded “My Bank powered by Bybit,” will give clients a personal IBAN and the ability to move money across banks in multiple currencies, beginning with the U.S. dollar. CEO Ben Zhou emphasized that the feature is designed to smooth the path between crypto trading and regular financial services, effectively creating a bridge for fiat deposits, bill payments, salary payments, and crypto trading all under a single Bybit account. The move comes as the platform seeks to diversify revenue streams and deepen user engagement beyond crypto spot and derivatives markets. It also comes in the wake of a major security incident the previous year, when Bybit disclosed a cyberattack that compromised user data and trust, underscoring the need for stronger rails and compliance in a rapidly evolving landscape.

Key takeaways

Bybit will launch retail banking services in February under the product name My Bank powered by Bybit, starting with personal IBANs for users.

The service enables fiat deposits and cross-border transfers, with multi-currency support planned up to 18 currencies, subject to regulatory approvals.

Bybit is partnering with established banks, including Qatar National Bank (QNB) and DMZ Finance, as part of the rollout, and has ties to Pave Bank in Georgia through broader tokenized-asset initiatives.

Access to the new banking rails will require Know Your Customer (KYC) verification, aligning Bybit’s fiat-on-ramp with standard regulatory practices.

The bank-like product is framed as a way to remove friction—allowing users to pay bills, receive salaries, and even purchase large-ticket items using funds deposited from their own bank accounts.

Tickers mentioned:

Market context: Bybit’s pivot toward retail banking comes as exchanges across the crypto industry seek to expand fiat rails and offer more-integrated experiences for users, amid ongoing regulatory scrutiny and a push for clearer licensing in multiple jurisdictions. The trend toward bank-like functionality reflects a broader effort to convert crypto platforms into more holistic financial service providers, a development being watched by traders, institutions, and regulators alike.

Sentiment: Neutral

Price impact: Neutral. The news centers on product expansion and regulatory considerations rather than immediate pricing catalysts.

Trading idea (Not Financial Advice): Hold. The strategic shift could broaden user engagement but faces regulatory hurdles and execution risk as it scales overseas.

Market context: The introduction of fiat-on-ramp and bank-style accounts aligns with wider market efforts to stabilize crypto-ecosystem liquidity and improve user onboarding, particularly as institutions increasingly evaluate compliance, licensing, and consumer protections in digital-asset services.

Why it matters

For Bybit, the launch reframes the platform from a predominantly crypto-centric exchange to a hybrid financial service provider that can handle more of a user’s daily money flows. With a personal IBAN and the ability to deposit fiat directly from a bank, users can expect a more seamless experience when converting salary and day-to-day income into crypto or paying bills with digital funds. Bybit’s leadership has framed the product as removing friction that has historically constrained users—such as the need to navigate separate fiat and crypto accounts—thereby potentially driving higher user retention and increased transaction throughput on the platform.

The banking collaboration underscores a broader industry shift toward regulated, bank-friendly rails. Partners like Qatar National Bank (QNB) and DMZ Finance are positioned to provide credible infrastructure, essential for onboarding with compliance standards that can withstand regulatory scrutiny in multiple jurisdictions. The tie to Pave Bank in Georgia signals a willingness to explore licensing and capabilities in new regions, aligning with a pattern of exchanges expanding into licensed financial services to attract both retail and institutional users. This evolution matters for builders and investors who monitor how on-ramps, custody, and cross-border payments interact with evolving crypto regulation and capital market access.

From a risk and resilience standpoint, Bybit’s objective to offer a direct fiat channel could help diversify revenue streams and reduce reliance on trading fees alone. Yet it also concentrates risk around banking partnerships and regulatory approvals. The company’s public acknowledgment of the prior hack adds an explicit reminder that secure, well-audited cash rails are a prerequisite for scaling consumer banking features within crypto ecosystems. As regulators increasingly scrutinize stablecoins, payment rails, and crypto-licensing, the success of Bybit’s banking initiative will hinge on airtight compliance programs, robust cybersecurity, and transparent consumer protections.

In the broader crypto market, this move mirrors similar efforts by peers to blend traditional finance with digital-asset platforms. A growing cohort of exchanges has started offering more integrated financial services, signaling a shift in the market architecture where crypto venues function less like niche exchanges and more like full-service financial ecosystems. As liquidity and risk sentiment evolve in 2026, the ability to offer real-world banking features could become a differentiator for platforms seeking sustainable, compliant growth and wider mainstream adoption.

What to watch next

Regulatory approvals: Monitor which jurisdictions grant licenses or waivers for Bybit’s banking services and any required capital or compliance conditions.

February rollout: Track the exact launch date, onboarding flow, and initial currency support (with expected expansion to up to 18 currencies).

Banking partnerships: Follow updates from QNB, DMZ Finance, and Pave Bank regarding integration milestones, KYC checks, and cross-border capabilities.

User uptake: Look for early adoption metrics, including the share of Bybit users who activate fiat accounts and the frequency of fiat-to-crypto or fiat-to-bill-pay transactions.

Security and resilience: Expect continued transparency around security measures post-hack and independent audits of the new rails to bolster user confidence.

Sources & verification

Bybit’s live keynote and product announcement detailing “My Bank powered by Bybit” and the features of the new banking service.

Bloomberg coverage describing Bybit’s banking ambitions and the involvement of the QNB group and related partners.

PR Newswire release outlining Bybit’s collaboration with QNB Group and DMZ Finance for tokenized assets and broader access to digital assets.

Cointelegraph reporting on Bybit’s past security incident and the company’s ongoing expansion beyond crypto trading.

Bybit expands into retail banking with My Bank powered by Bybit

Bybit’s new retail banking proposition centers on giving users a personal IBAN, enabling seamless cross-border fiat transfers and a direct path between bank accounts and crypto trading. After KYC verification, users can deposit fiat, pay bills, and receive salaries—actions that Bybit frames as straightforward transfers to a customer’s own bank account. The company’s leadership emphasizes that the banking rails will operate behind the scenes as standard bank transfers, enabling practical, everyday use cases such as buying a car or paying rent without navigating a separate fiat-to-crypto phase for each transaction.

In practice, the product will gradually scale to support a broad set of currencies, coordinating with partner banks to ensure compliance, liquidity, and transactional reliability. While USD is the initial focus, the goal is to broaden the currency footprint to as many as 18 currencies, reflecting Bybit’s ambition to serve a diverse, global user base. The approach relies on established financial institutions to provide the custody and settlement infrastructure that can meet regulatory expectations, reduce settlement times, and improve consumer protections in fiat transfers associated with crypto activities.

Despite the promise, Bybit’s foray into retail banking is not without risk. The industry faces ongoing regulatory dynamics, licensing questions, and the need for rigorous cybersecurity measures to protect fiat rails and customer data. The company’s past public acknowledgement of a major security incident underscores the importance of governance and risk controls as it scales. Yet, for users who want to manage salaries, bills, and everyday payments within a single platform, the new service could significantly cut the friction between traditional finance and digital assets, offering a tangible pathway to mainstream crypto adoption while aligning with broader industry trends toward integrated financial services.

This article was originally published as Bybit Rolls Out Retail Bank Accounts With Personal IBANs on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Abu Dhabi-based Universal Digital has launched USDU, the UAE’s first USD-backed stablecoin to be registered as a Foreign Payment Token under the Central Bank of the UAE’s Payment Token Services Regulation (PTSR). The registration marks a milestone for the Gulf state’s digital-asset framework, creating a regulated, USD-denominated settlement option for crypto activity in the UAE and positioning Universal as the pioneer Foreign Payment Token Issuer under the regime. The company emphasizes that regulators are guiding a transition path toward broader compliance, and USDU is described as the first USD stablecoin to complete that process. The token is issued as an ERC-20 token on Ethereum and is backed 1:1 by onshore USD reserves.

Key takeaways

USDU is the first USD-backed stablecoin to receive registration as a Foreign Payment Token under the UAE’s PTSR, signaling a formalized onshore settlement rail for digital assets.

Universal Digital operates under dual oversight from the UAE Central Bank and Abu Dhabi Global Market’s FSRA, enhancing governance, reserve custody, disclosures, and operational controls.

Reserves backing USDU are held 1:1 in onshore accounts at Emirates NBD and Mashreq, with MBank serving as a strategic banking partner and a global accounting firm providing monthly independent attestations.

The token is designed for institutional and professional use, with a focus on regulated settlement workflows; payments for digital assets and derivatives in the UAE must be in fiat or a Registered Foreign Payment Token.

Universal is pursuing broader distribution via Aquanow and coordinating with AE Coin to enable future conversion between USDU and the dirham‑denominated token for domestic settlement, expanding the regulatory perimeter for digital assets.

Sentiment: Neutral

Price impact: Neutral. The regime’s clarity may reduce settlement frictions, though immediate price effects of the registration are not evident.

Market context: The UAE’s approach reflects a broader trend toward regulated stablecoins that can underpin institutional crypto activity while aligning with traditional financial infrastructure. The PTSR framework aims to standardize how digital assets are treated in payments and settlements, potentially influencing regional liquidity and cross-border flows as banks and licensed venues integrate compliant tokens into existing workflows.

What to watch next

Why it matters

The registration of USDU as a Foreign Payment Token under the PTSR signals a concrete regulatory pathway for USD-denominated settlement tokens within the UAE’s financial system. For institutions operating in the UAE, this creates a more predictable environment to reconcile digital-asset trades, settlements, and reporting obligations, backed by onshore reserves and independent attestations. The dual oversight by CBUAE and FSRA is intended to raise standards across reserve custody, governance, disclosures, and operational controls, which can matter when banks, brokers, and licensed venues integrate crypto tokens into their processes.

From a market structure perspective, the arrangement helps align crypto activity with existing fiat rails. While USDU is not intended for broad mainland retail payments, it can facilitate domestic settlement and on-ramps for professional participants, potentially reducing settlement risk and improving liquidity for UAE-based digital-asset markets. The collaboration with Aquanow—under VARA’s regulatory umbrella—also signals a pathway to scale institutional access and connect USDU to a wider, regulated infrastructure, including on- and off-ramps and settlement networks.

Moreover, the ongoing dialogue with AE Coin, the dirham-denominated stablecoin licensed by the Central Bank, points to a broader ecosystem where multiple fiat-pegged tokens can operate within a unified regulatory perimeter. In that sense, USDU’s registration may serve as a blueprint for similar tokens, supporting interoperability between dollar- and dirham-denominated settlements as regulatory clarity deepens and custody standards mature.

What to watch next

Regulatory guidance on permissible use cases for USDU in specific institutional settlements and any forthcoming updates to the PTSR framework.

Adoption milestones among UAE banks, brokers, and licensed venues integrating USDU into their compliance, settlement, and reporting workflows.

Progress in cross-token settlement with AE Coin, including any approved conversion pathways and inter-token liquidity provisions.

Expansion of Aquanow’s distribution and onboarding of additional institutional partners under VARA supervision.

Sources & verification

Universal Digital press materials announcing USDU’s registration under the UAE Central Bank’s PTSR as a Foreign Payment Token.

Central Bank of the UAE (CBUAE) regulations and the Payment Token Services Regulation (PTSR) framework.

Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA) oversight of regulated fiat-referenced tokens.

Reserves and banking arrangements: onshore USD custody at Emirates NBD and Mashreq, with MBank as a corporate banking partner and monthly attestations by an international accounting firm.

Aquanow’s distribution role and AE Coin’s licensing status under UAE regulation, enabling future cross-token settlement paths.

UAE’s first central-bank‑registered USD stablecoin marks milestone for onshore settlements

USDU (CRYPTO: USDU) has been positioned as an ERC-20 token on Ethereum with a conservative, institutionally oriented design. Universal Digital frames USDU as a token purpose-built for regulated use cases, leveraging onshore reserve custody and formal attestations to reinforce trust among banks, licensed venues, and regulated exchanges. The company emphasizes that true confidence comes from regulated banking custody, periodic third‑party attestations, and ongoing regulatory oversight, which together create a transparent framework for settlements involving digital assets and their derivatives.

In practical terms, the UAE’s PTSR currently requires that payments for digital assets and derivatives be settled in fiat or a Registered Foreign Payment Token. While major stablecoins such as Tether and USD Coin have emerged as common liquidity anchors for UAE traders, none have been officially registered under the Central Bank’s regime to date. Universal argues that USDU is uniquely positioned as the first USD token to meet these regulatory conditions, potentially enabling more standardized flows within the UAE’s digital-asset ecosystem.

The governance architecture surrounding USDU includes a layered model of custody and disclosure. Reserves backing each token are held in safeguarded onshore accounts, with Emirates NBD and Mashreq serving as banks of record and MBank acting as the strategic corporate banking partner. A major accounting firm provides monthly independent attestations, reinforcing a public signal of reserve integrity. Those elements are designed to address common investor concerns about reserve quality and promptness of disclosures—factors that can influence institutional willingness to settle large-scale digital-asset trades on a domestic footing.

On the distribution side, Universal has named Aquanow as its global distribution partner, a move that should facilitate access to USDU for large‑scale institutions. Aquanow operates under Dubai’s VARA regulatory umbrella, enabling the token to slot into regulated custody, on-/off-ramp, and settlement infrastructures. The broader objective appears to be bridging the gulf between dollar‑denominated and dirham‑denominated stablecoins, as Universal also collaborates with AE Coin to support future conversions between USDU and the Emirate dirham token for domestic settlement, maintaining alignment within the same regulatory perimeter.

Despite the regulatory progress, USDU’s domestic role is circumscribed: it supports UAE domestic settlement of digital assets and derivatives but is not intended for general consumer retail payments in the mainland, where traditional dirham‑related instruments remain predominant. The emphasis remains on professional and institutional use cases, where the combination of regulated custody, independent attestations, and oversight can underpin more robust, auditable settlement workflows within the country’s evolving digital-asset infrastructure.

This article was originally published as UAE’s First Central Bank-Registered USD Stablecoin Goes Live on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Key Takeaways

South Dakota Representative Logan Manhart has introduced a bill to allow the state to invest public funds in Bitcoin.

House Bill 1155 proposes investing up to 10% of select state funds in Bitcoin.

The lawmaker introduced a similar bill in 2025, but it was blocked and not signed into law.

This proposal follows a growing interest in Bitcoin reserves across the US and other nations.

A South Dakota lawmaker has introduced a bill to the legislature that seeks to allow the state to invest a portion of its public funds in Bitcoin. This comes just after about a year, when a similar legislation he introduced failed to be implemented.

Losing no hope, on Tuesday, the 27th, Logan Manhart introduced House Bill (HB) 1155 in South Dakota’s legislature. HB 1155 proposes allowing the State Investment Council to allocate up to 10% of state revenues to Bitcoin.

“I am proud to say I have released my bill that would allow the State of South Dakota to invest in Bitcoin. Strong money. Strong state.” Manhart wrote in an X post.

A Revived Bill

The latest proposal closely mirrors House Bill 1202, which Manhart introduced in 2025. HB 1202 sought to add Bitcoin to the list of assets the State Investment Council is permitted to own, alongside traditional securities such as government bonds and exchange-traded funds (ETFs).

However, the bill was blocked by legislators over concerns about the volatility and risks associated with the currency. HB 1155 largely serves as a reintroduction of the failed 2025 proposal, with only a few notable changes.

First, the revised bill clarifies that Bitcoin exposure may be obtained in any of these three ways. First, through direct holdings by the State Investment Council, through a qualified custodian acting on its behalf, or via regulated exchange-traded products (ETPs).

Direct holdings must comply with strict custodial standards, allowing only qualified custodians such as federally or state-chartered banks or trust companies. ETPs on their side must qualify as registered investment companies and be traded on regulated exchanges, which subjects them to oversight by relevant U.S. or state regulators.

The bill also expands and tightens security requirements. Private keys must be kept in an encrypted hardware storage and used exclusively via end-to-end encrypted channels. Also, any hardware containing these keys must be maintained in at least two diverse geographical data centers under the authority of the State Investment Council. In addition, regular code audits and penetration testing must be done.

Beyond these refined custody, security, and definitional updates, the substance of the new bill remains unchanged from the earlier.

As of the time of writing, HB 1155 has received its first reading and has been referred to the Committee on Commerce and Energy.

A comparison of the two Logan Manhart’s Bills: 2025 bill on the left side, and 2026 bill on the right.

Growing Interest in Bitcoin-Backed Reserve in the US and Beyond

This renewed push in South Dakota comes as interest in Bitcoin-backed reserves grows among US states and other nations.

For instance, lawmakers in the states of Kansas and Florida have advanced similar proposals. Arizona, Texas, and New Hampshire, on the other hand, have passed crypto reserve legislation.

Meanwhile, we witnessed the U.S. federal government establish a strategic bitcoin reserve last year, through an executive order signed by President Donald Trump. Also, countries like El Salvador and Bhutan have already taken more direct approaches to incorporate Bitcoin into national strategies through state holdings, mining initiatives, and development projects tied to digital assets.

While many have seen these moves as a solution against inflation and currency debasement, critics continue to raise concerns about price volatility associated with the currency.

This article was originally published as South Dakota Lawmaker Revives Push for a Bitcoin Reserve on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Executive Summary 

In the volatile landscape of 2026, the barrier to entry for crypto funds is no longer just “generating alpha.” It is the increasingly complex “operational beta”, the friction of regulatory compliance, banking access, and institutional-grade governance. 

CV5 Capital has pioneered the Institutional OS for Digital Assets, a multi-manager platform designed to de-risk the fund launch process. By leveraging our Regulated Cayman Umbrella (CV5 Digital SPC), emerging and established managers can transition from a strategy to a fully operational, CIMA-compliant fund in under four weeks. This article analyzes how the platform model provides a strategic “moat” for managers looking to scale from seed capital to institutional mandates. 

The Operational Barrier: Why Crypto Funds Stall 

Traditionally, launching a fund was a six-month odyssey involving high six-figure legal fees, exhaustive service provider vetting, and the “banking wall”, the refusal of traditional institutions to service digital asset entities. 

For a manager, these are distractions. Every hour spent on a FATCA filing or a CIMA audit is an hour lost to the markets. CV5’s multi-manager platform is built to solve this “operational drag.” 

Part I: The Architecture of the Multi-Manager Platform 

The core of CV5’s offering is the Segregated Portfolio Company (SPC) structure. This allows managers to operate as a “Segregated Portfolio” (sub-fund) under our regulated umbrella. 

 * Speed to Market: Because the umbrella is already regulated and the service provider relationships (audit, admin, legal) are already established, the launch timeline is compressed to 3–4 weeks. 

 * Asset Segregation: Each portfolio is legally ring-fenced. Assets and liabilities of Fund A are entirely separate from Fund B, providing the security institutional LPs demand. 

 * Plug-and-Play Infrastructure: Managers gain immediate access to institutional-grade banking, prime brokerage, and custody without the years of track record usually required to open these doors. 

Part II: The Tech Stack — Tokenization and Real-Time Alpha 

In 2025, CV5’s strategic partnership with Enzyme and the adoption of the Onyx technology stack redefined what “transparency” looks like. 

By integrating on-chain infrastructure with a regulated Cayman framework, we enable: 

 * Tokenized Share Classes: Managers can issue fund interests as tokens, allowing for automated subscriptions and redemptions. 

 * Real-Time NAV: Gone are the days of waiting for monthly administrator reports. Investors can view verified, on-chain performance in real-time. 

 * Programmable Compliance: Eligibility criteria (KYC/AML) are baked into the token smart contracts, ensuring the fund remains compliant even in secondary market transfers. 

Part III: Scaling from $1M to $1B 

The transition from a “crypto startup” to an “institutional asset manager” requires a shift in governance. CV5 provides the framework to navigate this growth: 

Regulated and subject to rules on corporate governance, internal controls, conflicts of interest, segregation of assets, cybersecurity, data protection, valuations. 

Annual Audit by Approved Auditor 

Independent Directors 

Independent compliance officers 

Independent administrator  

Full regulatory and operational support locally and wherever investors are located to ensure compliance  

Experienced with operational due diligence (ODD) of institutional investors 

Leading partners in banking, trading, custody and technology. 

The “Operational Alpha” Advantage 

By offloading the back-office, LEI registrations, CUSIP/ISIN issuance, and FATCA/CRS reporting, to CV5, managers can focus on their core competency. In institutional circles, this is known as Operational Alpha: the value created by having a robust, audited, and de-risked operational environment that makes a fund “investable” for pension funds and family offices. 

Conclusion: Focus on the Trade, We’ll Handle the Rest 

The era of the “unregulated crypto fund” is over. To capture institutional liquidity in 2026, managers must meet the standards of traditional finance while embracing the efficiency of blockchain technology. 

CV5 Capital provides the bridge. We don’t just help you launch; we provide the institutional skin and technological muscle to help you scale. We’ve built the “OS”, you just bring the alpha.

This article was originally published as CV5 Capital’s Institutional OS for Alpha at Scale on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitcoin traded lower on Wednesday as gold advanced, lifting bullion sentiment and underscoring a widening divergence between precious metals and top cryptocurrencies. Gold surged past the $5,500 mark to a fresh record, pushing its market capitalization higher to roughly $38.77 trillion as some measures suggested the day’s gains approached the scale of Bitcoin’s own market footprint. Silver followed suit, rallying about 21.5% over the prior week to a valuation near $6.6 trillion, a move that widened its lead over Nvidia, the technology bellwether often cited as a proxy for market breadth.

The precious metals rally has been tied to a broad “debasement trade” thesis, with investors watching central-bank stimuli and fiscal expansion as drivers for hard assets. In contrast, Bitcoin has faced renewed headwinds since a crypto market crash in October that liquidated roughly $19 billion in positions, weighing on price performance in the near term. The narrative around Bitcoin’s role as a safe-haven asset has persisted, but the price action in the last several months has shown a more nuanced relationship with gold as macro dynamics evolve. The latest market moves come as investors weigh whether Bitcoin can sustain a rebound while traditional stores of value hold firm.

Before the October sell-off, sentiment had leaned toward the idea that Bitcoin and gold could function as countercyclical hedges during periods of fiscal irresponsibility and monetary expansion. That view has since been tested by a series of risk-off episodes that complicated the narrative for both assets. The five-year timeframe, in particular, highlights a notable performance gap: gold has risen about 173% over that span, while Bitcoin has climbed roughly 164%. This relative outperformance of gold over the medium term has shaped how investors view the “store of value” thesis for the crypto asset, even as many participants remain convinced of Bitcoin’s long-run potential.

Bitcoin could be undervalued, institutional investors say

In a development that injects a note of optimism into a cautious environment, a Coinbase survey released earlier this week found that 71% of 75 institutional investors believe Bitcoin is undervalued when priced in a range of roughly $85,000 to $95,000. The study also revealed a resilient commitment among institutions: about 80% indicated they would hold or add to their crypto positions in response to a hypothetical 10% decline in the broader crypto market, signaling conviction about Bitcoin’s longer-term role in diversified portfolios. The Coinbase data underscores a divergence between near-term price volatility and longer-term strategy among large players, suggesting that institutions continue to map an exposure path into an asset class they see as asymmetrically rewarding over time.

Bitcoin, gold sentiment on opposite ends of spectrum

The sentiment landscape around Bitcoin and gold has grown increasingly bifurcated. The Crypto Fear & Greed Index, which aggregates sentiment across the crypto market, sits at 26 out of 100 in the “Fear” zone, illustrating cautious positioning amid recent volatility. By contrast, sentiment around gold remains sharply positive, with the Fear & Greed Index for gold tracked by JM Bullion sitting at 99 out of 100, in the “Extreme Greed” territory. The divergence underlines how different risk premia and macro expectations are shaping flows into traditional safe-haven assets versus digital assets.

Source: JM Bullion

Magazine: Davinci Jeremie bought Bitcoin at $1… but $100K BTC doesn’t excite him

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy

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2)

Key takeaways

Gold’s daily surge propelled bullion to a fresh all‑time nominal high near $5,500 per ounce, lifting its overall market cap to about $38.77 trillion and signaling continued demand for hard assets amid expansionary policy expectations.

Silver rallied about 21.5% over the past week, driving its market cap to around $6.6 trillion and widening the spread relative to Nvidia, the largest publicly traded company, illustrating a broad rotation into precious metals alongside equities.

The five‑year comparison shows gold outperforming Bitcoin (173% vs 164%), reinforcing the narrative that traditional stores of value have maintained pricing discipline even as crypto markets wobble.

A majority of institutional investors surveyed by Coinbase believe Bitcoin is undervalued in the $85k–$95k range, and roughly four in five would hold or add to crypto positions after a modest downturn, suggesting continued strategic interest from large capital allocators (EXCHANGE: COIN).

The market exhibits a clear sentiment split: crypto fear remains elevated while gold shows extreme greed, highlighting divergent risk appetites and the different catalysts shaping each asset class.

3)

Tickers mentioned: $BTC, $COIN, $NVDA

4)

Sentiment: Neutral

5)

Price impact: Negative. Bitcoin faced selling pressure in the session as gold led gains for risk-off assets, contrasting with the broad strength in bullion.

6)

Trading idea (Not Financial Advice): Hold. The institutional appetite suggested by the Coinbase survey argues for a cautious, longer‑term exposure strategy rather than chasing near‑term moves.

7)

Market context: The moves follow a period of macro uncertainty where gold’s role as a hedge remains pronounced even as crypto markets grapple with liquidity and sentiment shifts, potentially signaling a rotation in risk assets depending on policy developments and inflation expectations.

8)

Why it matters

The divergence between gold and Bitcoin at a time of accelerating fiat expansion underscores a broader debate about the place of crypto within traditional portfolios. While bullion continues to attract demand as a trusted store of value in uncertain macro environments, Bitcoin’s trajectory suggests it remains tethered to risk sentiment and liquidity conditions that can amplify drawdowns in the short run. The Coinbase survey’s implication that institutions see intrinsic value in Bitcoin at higher price bands reinforces the notion that professional investors view the asset as a strategic, long‑horizon allocation rather than a quick trade for a bull run. This dynamic matters for users, builders, and investors who must calibrate expectations around volatility, liquidity, and eventual adoption curves for decentralized finance and digital asset custody infrastructures. The five‑year performance comparison—gold up 173% versus Bitcoin’s 164%—also highlights how traditional assets continue to command a premium in certain regimes, while crypto markets seek durable narrative pillars to sustain longer‑term upside.

As the ecosystem evolves, the ongoing dialogue around safe-haven attributes, institutional yields, and regulatory clarity will shape the next phase of asset allocation. The tension between the proven resilience of gold and the still‑uncertain but potentially transformative role of Bitcoin means markets could witness continued bifurcation in sentiment and performance across assets. For traders and investors, this environment argues for disciplined risk management, diversified exposure, and a clear view of each asset’s catalysts—whether policy shifts, ETF developments, or macro surprise events—that could tilt the balance in either direction.

9)

What to watch next

Next readings on Bitcoin’s price path in relation to macro moves and gold’s continued run; watch any shifts in risk sentiment over the coming days.

Updates from institutional platforms and future surveys that test whether the undervaluation thesis for Bitcoin holds as macro conditions evolve.

Regulatory developments and ETF flows that could reshape liquidity and price discovery in major crypto markets.

Any corroborating data from market trackers and sentiment indices that might signal a shift in the gold–Bitcoin dynamic.

10)

Sources & verification

Gold price and market-cap data, including the $38.77 trillion figure and the all‑time high, as cited in market coverage referencing bullion dynamics and cross-asset comparisons (source material linked in the article).

Silver rally of 21.5% and the $6.6 trillion market cap reference, with comparison to Nvidia’s market leadership in public markets (source material linked in the article).

Coinbase institutional survey results showing 71% undervaluation view for Bitcoin in the $85k–$95k band and 80% readiness to hold or add on declines (https://cointelegraph.com/news/institutional-investors-say-bitcoin-undervalued-coinbase-survey).

Crypto Fear & Greed Index readings around 26 (Fear) and JM Bullion’s Extreme Greed reading for gold (https://alternative.me/crypto/fear-and-greed-index/#google_vignette and https://www.jmbullion.com/fear-greed-index).

Historical context on the October crypto crash and subsequent market dynamics (Cointelegraph articles linked in the narrative).

11)

Market reaction and key details

Bitcoin’s latest price action comes amid a tug of war between crypto risk appetite and the enduring appeal of real‑money assets. While gold breached the psychologically important threshold of $5,500 per ounce, lifting its market cap toward historic highs, Bitcoin moved lower in the session, highlighting a shift in liquidity priorities as market participants reassess risk premia in a landscape shaped by central‑bank policy expectations and fiscal stimulus narratives. The juxtaposition of these trajectories is not merely a snapshot of one day’s moves; it reflects evolving investor judgments about what constitutes a reliable store of value, how much inflation hedging is discounted into asset prices, and where capital should flow when macro data and policy signals diverge.

Across the broader market, a 21.5% weekly surge in silver underlines the ongoing rotation into traditional hard assets, even as equities and technology stocks navigate their own cycles. The divergence from Nvidia, which remains symbolic of the broader tech rally’s health and risk tolerance, adds texture to the market’s instinct that not all hedges or inflation plays move in lockstep. For institutional participants, the Coinbase survey’s takeaway—namely, that a sizable majority view Bitcoin as undervalued in a high‑price band and remain inclined to hold or accumulate after a downturn—suggests a patient stance that could translate into steadier demand for larger crypto allocations over time.

In terms of sentiment, cryptoFear remains a factor, with a score in the fear zone, while gold’s sentiment gauges remain in extreme greed territory. This split reflects a market that still distinguishes between the distinct narratives driving each asset class: a crypto market seeking structural adoption and liquidity expansion, and a gold market riding a long‑running inflation/monetary policy thesis. The net effect is a market that could experience continued bifurcation, enabling cocooned pockets of opportunity for traders while investors maintain diversified exposure to both digital and physical stores of value.

This article was originally published as Gold Nearly Matches Bitcoin’s Market Cap in a Day on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Hyperliquid’s token rally captured broader attention as a rapid 60% ascent lifted the price to 34.90 from about 21.80 in a matter of days. The move came amid a confluence of on-chain activity, new balance-sheet exposures, and a wave of speculative positioning that left traders parsing whether the momentum would endure. Two events stood out in the backdrop: the staking unlock that eased selling pressure and reports that a Nasdaq-listed treasury company added HYPE to its digital-asset reserves. The price spike also coincided with a bout of liquidations on bearish leveraged bets, underscoring how quickly sentiment can flip in a market where liquidity and risk appetite ebb and flow in tandem.

Key takeaways

HYPE surged about 60% to 34.90 in a two-day rally, with more than $20 million in liquidations tied to bearish, leveraged positions as the move unfolded.

An ARK Invest Big Ideas report highlighted Hyperliquid as a potentially revenue-efficient player in DeFi derivatives, contributing to a broader institutional关注 despite flat perpetual volumes.

Purported on-chain activity linked to a Nasdaq-listed treasury firm, PURR, adding HYPE to its balance sheet helped intensify the narrative around HYPE’s legitimacy and demand.

On-chain transfers and staking activity overshadowed by large holders; substantial inflows cited from major venues, but overall open interest remained robust yet concentrated, leaving questions about sustainability.

Unfolding staking unlock events and trader debates around market maker flows added a dynamic that could influence near-term price action, with some observers noting renewed attention on Hyperliquid’s role in price discovery.

Tickers mentioned: $HYPE, $BTC, $USDT

Sentiment: Neutral

Price impact: Positive. The rally pushed HYPE higher on renewed interest, though the trajectory remains uncertain without corroborating sustained participation.

Trading idea (Not Financial Advice): Hold. Near-term momentum favors the upside, but the absence of clear catalysts beyond one-off inflows warrants caution.

Market context: The move unfolds amid a broader crypto-derivatives landscape where on-chain activity and institutional interest intersect with exchange dynamics, reinforcing the importance of liquidity and risk sentiment in price formation.

Why it matters

The recent price action around Hyperliquid underscores how a niche platform can become a focal point for price discovery even when, in aggregate, major centralized venues still claim outsized influence. Hyperliquid’s gains followed a period of reported on-chain inflows and a notable staking unlock, suggesting that both new capital and the unblocking of previously illiquid stakes can push a token into the spotlight. While the rally appears buoyed by specific events rather than organic, broad-based adoption, the episode highlights how on-chain activity and cross-market flows can temporarily tilt the supply-demand balance in favor of a token with a dedicated user base.

ARK Invest’s framing of Hyperliquid as a potentially revenue-efficient DeFi derivatives participant adds a layer of institutional credibility to the narrative. The analysis emphasizes that the market’s evolution could tilt toward using blockchain infrastructures as monetary assets, a perspective that could attract more capital if supported by measurable profitability and scalable platforms. Yet the critique remains: price momentum in such setups can be fragile if outsized inflows recede or if large holders begin to unwind positions. In that context, the ARK report serves as a reminder that fundamentals and market mechanics—rather than hype alone—should guide long-term expectations for a token tied to a complex derivatives ecosystem.

On-chain activity and treasury-related moves are central to this episode. Reports of PURR adding HYPE to its balance sheet and the 3.6 million HYPE accumulation on December 12, 2025—followed by staking via Anchorage—signal a governance of risk and capital that blends traditional treasury management with crypto-native strategies. The narrative around PURR traces back to its roots in a SPAC-backed merger with Rorschach, positioning the venture as a bridge between conventional markets and DeFi liquidity provisioning. While such corporate actions can magnify a token’s legitimacy in the eyes of investors, they also invite scrutiny of counterparty risk and the durability of a token’s price trend outside pure market dynamics.

Another dimension of the discussion centers on on-chain versus exchange-driven activity. While some observers pointed to a surge in on-chain activity as a driver of price gains, metrics such as synthetic perpetual volumes and total open interest suggest a more nuanced picture. Hyperliquid’s open interest reached notable levels, but it did not instantaneously eclipse the broader BTC open-interest landscape on centralized venues. The BTC futures market remains significantly larger on major exchanges, underscoring that a single venue’s day-to-day, on-chain pivots are unlikely to redefine a market’s entire price discovery process. The comparison to Binance’s BTC perpetual book—though highlighting relative strengths—also serves as a cautionary note that liquidity can concentrate unevenly across venues, often amplifying volatility during rapid price moves.

In the background, the market also dealt with substantial staking unlocks and historic inflows from large holders. Notable transfers and unlocks—such as a January 21 unlock of 1.47 million HYPE and a separate 1.5 million HYPE unlocked by wallets linked to a Tornado Cash cluster—underline how supply dynamics can shift quickly as large positions become eligible for sale or redistribution. Earlier, Continue Capital was reported to have sold significant quantities of HYPE—an element that complicates the narrative of sustainable demand, since selling pressure can reassert itself even after rallies driven by technical or flow-driven catalysts. Taken together, these developments illustrate how a confluence of corporate actions, on-chain activity, and external investor commentary can generate short-term volatility without necessarily signaling a structural shift in the token’s long-run trajectory.

Beyond the immediate price action, the broader market context matters. The ARK Invest assessment framed Hyperliquid as a participant in an ecosystem where DeFi derivatives could rival traditional exchanges on revenue efficiency, painting a picture of a market that is evolving toward more automated, decentralized liquidity provision. If that trend continues, investors may increasingly assess tokens not just by price momentum but by the resilience of their revenue models, the quality of on-chain activity, and the ability to sustain liquidity across multiple market regimes. As with any nascent crypto-asset narrative, a critical eye toward risk, counterparties, and regulatory developments remains essential for navigating the next phase of movement in HYPE or similar tokens.

What to watch next

Follow PURR’s treasury disclosures and any new corporate filings to assess whether HYPE remains a deliberate reserve asset or simply a transient inflow.

Monitor upcoming staking unlocks and related liquidity events to gauge potential selling pressure versus new demand from strategic holders.

Track on-chain flow shifts and open-interest dynamics across Hyperliquid versus larger venues like Binance, with attention to BTC perpetuals and related markets.

Watch for additional institutional coverage, particularly from research houses similar to ARK Invest, that may influence risk sentiment and flows into DeFi derivatives.

Be alert for further on-chain transfers associated with major market makers or custody providers that could signal evolving liquidity provision strategies.

Sources & verification

Hyperliquid price index and the price move to 34.90 from 21.80 within a two-day window (Cointelegraph).

Details on staking unlocks and price impact linked to HYPE (Cointelegraph).

Hyperliquid open-interest and volume context, including comparisons to other venues (DefiLlama-based data referenced in reporting).

ARK Invest Big Ideas 2026 report citing Hyperliquid as a revenue-efficient DeFi derivatives player (ARK Invest).

What the article changes the conversation about

Hyperliquid’s recent activity spotlights how on-chain flow, treasury partnerships, and institutional analysis can converge to spark a short-term price narrative even when broader market liquidity remains fragmented. The episode emphasizes the need to distinguish between transient catalysts and sustainable demand, especially in a market where large holders, staking unlocks, and cross-venue competition shape price trajectories. For traders, risk managers, and developers alike, the event underscores the ongoing importance of monitoring on-chain activity, counterparty exposure, and macro think pieces that frame DeFi derivatives within a broader finance ecosystem.

Source: X/ lukecannon727

Hyperliquid daily fees and perpetual volumes, USD. Source: DefiLlama

Source: X/ chameleon_jeff

This article was originally published as HYPE Surges 60% as Hyperliquid Growth Metrics Warn Gains Won’t Hold on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Vivek Ramaswamy-backed Strive disclosed a rapid post-merger milestone: it has retired about 92% of the debt it inherited from Semler Scientific and expanded its Bitcoin position after closing a preferred stock offering earlier this month. The company said it has added another 334 BTC to its balance sheet and is directing proceeds from the sale of Variable Rate Series A Perpetual Preferred Stock (SATA) toward debt reduction, Bitcoin accumulation, and related assets. The finance round attracted substantial demand, enabling Strive to lift its target raise from $150 million to $225 million, underscoring continued interest in corporate Bitcoin strategies even as markets oscillate.

The broader context is that Strive’s move follows a pattern seen among corporate treasuries seeking to harvest yields on crypto exposure without taking on more leverage. By pairing the debt paydown with tactical crypto buys, the company aims to strengthen its balance sheet while expanding its Bitcoin exposure—an approach that has become increasingly common in the years since large holders began converting cash reserves into digital assets.

Strive’s acquisition of Semler Scientific was finalized on Jan. 13 after the two parties agreed to merge the previous September. The combination created a vehicle for Strive to pursue a Bitcoin-centric treasury strategy with a more robust capital-raising mechanism. The company had signaled earlier this month that it would use the capital raised, along with available cash and potential proceeds from unwinding hedges, to retire liabilities and fund further Bitcoin-related purchases. In a notable move, Strive confirmed that it would deploy the proceeds to retire $110 million of Semler debt (92% of the inherited balance), including $90 million of convertible notes exchanged for SATA stock and the full repayment of a $20 million Coinbase credit loan. This repayment effectively unshackles its Bitcoin holdings from encumbrances and sets the stage for more rapid balance-sheet optimization.

Source: Matt Cole

With the Coinbase loan retired, Strive said its Bitcoin holdings are now fully unencumbered. The company plans to settle the remaining $10 million debt within about four months, a move that should further improve liquidity and flexibility for future purchases. Since the transaction, Strive has added 333.9 BTC at an average price of roughly $89,851, lifting its total holdings to 13,132 BTC with an approximate market value near $1.17 billion at current prices. The company also disclosed a quarterly Bitcoin yield of 21.2%, illustrating the pace at which its exposure is growing relative to its per-share metrics.

Following these steps, Strive has vaulted into a position among the top 10 corporate Bitcoin treasuries by holdings—a notable milestone for a company that has built its narrative around Bitcoin as a strategic asset rather than a mere hedge. The recent purchase and the debt-reduction agenda come as part of a broader push by corporates to deploy crypto in their treasury management, balancing risk with the potential for enhanced returns during a period of volatile macro conditions.

This development sits within a wider pattern of institutional adoption, where more than 190 publicly traded companies reportedly hold Bitcoin on their balance sheets, collectively owning about 1.134 million BTC—roughly 5.4% of the cryptocurrency’s total supply. The concentration of holdings is disproportionately skewed toward a few established players, with Michael Saylor’s managing affiliates maintaining a substantial share of corporate BTC. The broader market context remains one of cautious optimism: while crypto markets have shown resilience at times, corporate strategies, hedging activity, and regulatory developments continue to shape price and risk sentiment.

The ongoing evolution of Strive’s treasury approach reflects a broader trend toward using structured equity financing to support Bitcoin accumulation without increasing leverage. The SATA offering—driven by strong demand that pushed the target higher—illustrates investors’ willingness to back long-duration instruments tied to crypto exposure, provided the funds are deployed toward reducing debt and expanding holdings. The question for investors remains how enduring these strategies will prove, given the dual pressures of balance-sheet discipline and the intrinsic volatility of Bitcoin’s price.

As corporate treasuries navigate 2026, Strive’s experience could offer a blueprint for other firms weighing debt reduction alongside crypto accumulation. The company’s ability to retire a large portion of inherited obligations while keeping liquidity intact may influence how management teams structure future treasury operations, particularly in sectors with significant exposure to digital assets. However, execution risk remains clear: even with unencumbered BTC, balance-sheet management, hedging strategies, and regulatory scrutiny can introduce volatility that tests the long-term viability of such programs.

Why it matters

For investors, Strive’s actions underscore a continuing appetite for crypto-backed cash-flow strategies that do not rely on additional leverage. The combination of debt retirement and an expanded Bitcoin position signals confidence in the resilience of corporate BTC holdings as a component of strategic balance sheets, rather than a speculative bet. The rapid deleveraging tied to convertible notes and a sizable loan repayment demonstrates that even in a bear market, companies are willing to invest in durable capital structures that support crypto exposure.

From a market perspective, the move highlights how capital markets are pricing crypto treasuries as legitimate financial tools. The strong demand for SATA, which enabled the upsizing to $225 million, suggests that investors view long-duration equity linked to Bitcoin as a credible instrument when aligned with prudent balance-sheet goals. As more corporates weigh their own cryptocurrency programs, Strive’s progress—especially its transition to an unencumbered BTC position—adds to the dialogue about risk management, governance, and transparency in corporate crypto strategies.

For builders and policymakers, the episode raises questions about governance, disclosure, and the sustainability of treasury-centric models. If more companies pursue similar paths, there may be pressure to standardize reporting on crypto holdings, hedges, and debt instruments so markets can better assess risk and return profiles. The interplay between equity financings and crypto purchases, particularly in the face of regulatory shifts, will shape how such programs evolve in the coming quarters.

What to watch next

Release of detailed use-of-proceeds statements from Strive regarding the SATA offering closing and allocation of funds.

Monitoring the pace of debt repayment, including the remaining $10 million due within roughly four months.

Any further Bitcoin purchases or changes to hedging strategies as the company manages liquidity and exposure.

Regulatory developments affecting corporate crypto treasuries and disclosure requirements.

Sources & verification

Strive’s public disclosures on debt retirement and the Semler Scientific acquisition, including the $110 million retirement and the $90 million convertible notes exchanged for SATA stock.

Details of the SATA offering and its upsizing from $150 million to $225 million in response to roughly $600 million of demand.

The completion of the Semler Scientific acquisition on Jan. 13 following the September merger agreement.

The addition of 333.9 BTC at an average price of $89,851, bringing Strive’s total to 13,132 BTC, valued at about $1.17 billion.

The reported 21.2% quarter-to-date Bitcoin yield and the status of Strive as a top-10 corporate BTC treasury holder.

Industry-wide figures noting that more than 190 publicly traded companies hold Bitcoin on their balance sheets, collectively owning about 1.134 million BTC (roughly 5.4% of supply).

Bitcoin treasury expansion and debt retirement redefine Strive’s corporate treasury strategy

Strive’s financial moves this month mark a notable shift in how a corporate treasury can marshal capital to both deleverage and expand crypto exposure. By retiring a large portion of the debt it inherited from Semler Scientific and simultaneously increasing its Bitcoin holdings, the company is embedding digital assets more deeply into its core financial framework. The decision to use the proceeds from SATA to settle convertible notes and a Coinbase credit facility underscores a deliberate strategy to reduce liabilities while preserving ample liquidity for future buys. The unencumbered status of its Bitcoin portfolio stands out as a structural benefit, offering flexibility if market conditions or funding needs shift in the months ahead.

From a narrative standpoint, Strive’s approach blends traditional financing with crypto investment, signaling to investors that long-duration equity can serve as a bridge to balance-sheet optimization and asset accumulation. The upsized $225 million sale demonstrates investor appetite for instruments tied to Bitcoin exposure, provided the proceeds are channeled toward debt reduction and strategic acquisitions rather than amplified leverage. This combination matters because it could influence how other companies structure similar programs, particularly those seeking to weather volatility while building durable, crypto-linked revenue streams.

In practical terms, the retirement of the Coinbase loan and the conversion of $90 million of convertible notes into SATA stock illustrate a sophisticated approach to restructure liabilities in a way that clears the way for more aggressive asset accumulation without compromising financial stability. As corporate treasuries continue to emerge as a distinct asset class within the broader crypto ecosystem, Strive’s results may serve as a reference point for evaluating risk-adjusted returns, governance standards, and disclosure norms that will likely evolve as more firms explore Bitcoin’s role as a treasury asset.

This article was originally published as Strive Buys Bitcoin, Pays Off Debt from Semler Scientific Deal on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.