Cryptopolitan

The market order has changed. XRP has taken the fourth spot, bumping Binance Coin to the fifth spot despite both being in the red. Binance Coin has shed 6.28% in the last 24 hours and has fallen to $588 as traders debate what to do next. However, for investors wondering what cryptocurrency to invest in today, the question is not what will happen to Binance Coin. 

The question is whether holding exchange-based tokens or settlement coins is even relevant in an era in which there are clear protocols for earning passive income. There is a cryptocurrency out there with functioning infrastructure, a limited supply, and passive income opportunities that Binance Coin and XRP do not provide.

BNB Drops Lower

XRP has taken the spot from Binance Coin, but this does not mean anything has changed on the fundamental side. XRP is currently trading at $1.36 and has shed 33% in one month. Despite Goldman Sachs holding $152 million in XRP ETFs, there is no income generated by XRP holders. All XRP does is settle transactions. It does not multiply the value of holders.

The same goes for Binance Coin. While the value of Binance Coin is tied to trading volume on Binance and to the burning of Binance Coin, burning does not provide income to holders. There are no dividends earned on transactions processed on the exchange, and there is only speculation about the timing of the burn. As such, neither XRP nor Binance Coin qualifies as the best cryptocurrency to invest in today.

What Mutuum Finance Actually Builds

Mutuum Finance (MUTM) is a decentralized, non-custodial lending platform in which users earn income on their holdings without selling them. Mutuum Finance has two different markets: peer-to-contract (P2C) and peer-to-peer (P2P). 

Peer-to-Contract lending features pools where different suppliers’ liquidity is combined. When a user adds $8,000 in USDC, they will be rewarded with mtUSDC, which will automatically start earning interest. At an achievable 10% APY, this could increase to a total of $8,800 in one year without the user’s involvement. Peer-to-peer is a type of market where users can set their own loan terms. A user who wants to borrow $4,000 ETH for a short time could be able to do so, negotiating a 12% APY and SHIB collateral.

Presale Supply and 21x Opening Window

The fixed supply mechanism is what differentiates Mutuum Finance from other DeFi tokens, which have inflationary systems. The total supply is capped at 4 billion, with 45.5% allocated for the presale. This is a fixed amount, with over 850 million absorbed by over 19,000 holders, raising a total of $20,500,000.

The price for Phase 7 is set at $0.04, while Phase 8, which is set to be released soon, will be priced at $0.045. The public launch will be activated when the entire presale is sold out, and the price will be fixed at $0.06. However, according to analysts who have created a model for what will happen when the platform is launched, it is likely that the price will immediately rise 21x. This is due to the fixed supply versus growing demand and adoption, listings, and the other growth drivers like the protocol’s buyback-and-distribute mechanism. If the demand from stakers and new users is as predicted, it is likely that the price will be adjusted to $0.84 within a short time of its launch.

Earning While Holding: Dividends and Daily Rewards

Unlike BNB, which simply reduces float by burning, Mutuum actually transfers value to participants. The buy and distribute mechanism utilizes a portion of the borrowing fees from the protocol to buy MUTM on the open market. These MUTM tokens are then transferred to users who stake their mtTokens with the safety module.

Take the example of a user who lends $12,000 of ETH to a liquidity pool. The user receives mtETH, which they decide to stake. What if the fees from the protocol reach $600,000 per month, with $90,000 of this being used for the buyback and redistribution? The staker could get up to an extra $1,200, separate from their yield on the lending.

Why Infrastructure Beats Sentiment

BNB is waiting for a volume boost while XRP is waiting for a lawsuit to spark nostalgia. Mutuum Finance on the other hand, has an audited lending platform with real fees to transfer to their token holders. For investors looking to determine what is the best crypto to buy, it’s not about which one has the top market capitalization. It’s about which one actually produces value.

For more information about Mutuum Finance (MUTM) visit the links below:

Website: https://mutuum.com/ 
Linktree: https://linktr.ee/mutuumfinance

While Ripple (XRP) continues to face difficulties in maintaining its growth, one new crypto coin is gaining the attention of investors. This new coin, Mutuum Finance (MUTM), has already shown impressive growth, with a highly-subscribed presale that has raised over $20.48 million sooner than expected.

XRP Under Pressure Amid Global Risk-Off Sentiment

XRP’s price has fallen from $2.00 to $1.40, driven by various factors in the global market. The latest decision by China to sell US Treasury bonds has caused a risk-off sentiment in the market, affecting the liquidity of various assets, including XRP. XRP’s RSI indicator is currently below 50, and the price is currently trading below the 50-day moving average. While XRP struggles with momentum, Mutuum Finance has gained attention as investors look for better opportunities in the market.

MUTM Price Prediction: Could the Token Reach $1?

From its presale start, MUTM has managed to raise more than $20.48 million and has recorded more than 19,000 token holders. The current price is $0.04 in Phase 7, having increased by 4x since its opening presale price. When it finally reaches $1, as analyst predictions state, it would be a 25x price appreciation from its current price. The price appreciation is not only based on strong presale demand, but also on its underlying protocol and upcoming exchange listings. The capped supply, presale structure, and increased engagement make MUTM an interesting investment opportunity for those searching for a top crypto to buy now.

Multichain Expansion: Unlocking Liquidity Across Networks

One of the strategies employed by Mutuum Finance is its multichain expansion, which will help unlock liquidity across multiple networks instead of having it confined to a single network. 

For example, its deployment will start on Ethereum, where it could achieve $10 million in supplied liquidity and $5 million in borrowed liquidity. That results in a 50% utilization ratio, which could result in a 6% APY. When deployed to two more networks, liquidity could increase to $20 million and $15 million in borrowed liquidity, bringing its utilization ratio 75%. This would allow lenders to earn a higher APY e.g, 10%, making multichain expansion beneficial to both lenders and the protocol.

Peer-to-Peer Lending: Flexible Solutions for Speculative Assets

Mutuum Finance’s Peer-to-Peer (P2P) Lending offers specific and personalized loan opportunities. P2P is particularly useful for tokens that are volatile or cannot participate in a market pool. For example, if an investor has $12,000 in SHIB tokens but needs cash for other uses, the investor can find a peer who is willing to lend $6,000 USDC. The investor would then lock up the SHIB tokens as collateral at 200% overcollateralization. The loan would be received at an agreed interest rate, for instance, 12%.

While Ripple continues to face challenges, investors are now looking to a new crypto coin, Mutuum Finance. While only recently launched, MUTM has taken over the DeFi scene with strong momentum. Investors can accumulate the token during phase 7 of its presale at $0.04, with higher prices scheduled in the upcoming phases. Phase 8 alone will see MUTM cost nearly 20% more. Investors can benefit from a live DeFi lending platform, liquidity expansion through multiple chains, and peer-to-peer lending for customized volatile assets. With its presale already exceeding $20.48 million and 19,000 investors, MUTM is projected to accelerate toward $1 upon launch, making it one of the best cryptos to buy now.

For more information about Mutuum Finance (MUTM) visit the links below:

Website: https://mutuum.com/ 

Linktree: https://linktr.ee/mutuumfinance 

Deutsche Bank, Germany’s largest bank, managed a large part of Jeffrey Epstein’s assets through 40 accounts. This revelation came with consequences. The bank’s stock fell by 5.49% on February 4 after additional Epstein files detailing his criminal activities were made public. 

Epstein was a sex offender. He was in custody awaiting trial for further charges when he died in August 2019 with a net worth of nearly $600 million. According to DOJ documents, Deutsche took him on as a client in 2013 after JPMorgan decided to close his long-held accounts for reputational reasons. Therefore, the bank knew exactly whom it was getting involved with. 

Paul Morris was reportedly part of the JPMorgan team that managed Epstein’s money before introducing the financier as a client to Deutsche Bank. Morris was the primary officer for a number of Epstein accounts at Deutsche Bank, including Southern Financial, which was reportedly one of the financier’s main sources of income.

Deutsche Bank kept Epstein as a client after publicly cutting ties

Deutsche Bank has been particularly criticized for failing to react when Epstein withdrew large sums of cash from his account. Analysts have highlighted certain transaction details in the Epstein files that now seem problematic, considering the financier’s dubious business activities.

The bank served him for 5 years before telling him that it would end the relationship in late 2018. However, it continued offering services even after closing all its accounts after his arrest in July 2019. For instance, it arranged an order made on April 9, 2019, for 50,000 euros ($59,300) in cash in “large bills” ahead of a trip to Europe

Also, on January 3, 2019, Epstein’s office asked how much he could take out daily with his Deutsche debit card. The bank’s answer was $12,000 a day. Deutsche continued to operate one Epstein account, called Southern Trust Company, with more than $30 million moving in and out in March 2019. 

In April 2019, an Epstein account at Deutsche made more than $100,000 in transfers to various aviation firms. Deutsche also arranged another $7,500 in euros to be sent in cash by FedEx to an Epstein aide in New York, as well as the 50,000 euros on short notice. Both requests were made in a single email on April 9. 

Epstein still held at least nine accounts with balances totalling $1,776,680 with Germany’s largest bank as of May 3, 2019. The files show it took news of his arrest on July 6, 2019, almost seven months later, for Deutsche to make a final clean break with Epstein by officially closing the accounts.

Deutsche Bank has already been forced to pay out money in this case. The US Federal Reserve imposed a fine of more than $180 million after it was found to have not fixed problems with its money-laundering controls fast enough. It was also ordered to pay $75 million as part of a settlement to a group of Epstein’s victims. 

This week, the German news agency dpa quoted a company spokesperson as saying: “As repeatedly emphasized since 2020, the bank acknowledges its mistake in accepting Jeffrey Epstein as a client in 2013.”

Financial institutions and their execs found in the Epstein files

Chief legal officer and general counsel at Goldman Sachs, Kathy Ruemmler, appeared in several emails with Epstein and his associates from 2014 to 2019. Various emails suggest Ruemmler often visited Epstein for lunch, that he showered her with gifts, and sometimes paid for hair appointments.

Jes Staley, who resigned as CEO of Barclays in 2021 following an investigation by the Financial Conduct Authority into his links with Epstein, also had very close connections with the convicted sex offender.

“I deeply appreciate our friendship. I have few so profound,” Staley wrote to Epstein in 2009 when he was working at JPMorgan. Between 2008 and 2012, Staley exchanged around 1,200 emails with the disgraced financier while at the US bank.

Additionally, Cecilia Steen, an employee within JPMorgan’s London office, is a longtime associate of Jeffrey Epstein. She messaged the convicted sex offender to pledge her loyalty just days before he died.

“My dearest Jeffrey, I don’t know when you’ll get to read this. I was so sad to read that you had been found unconscious [sic] in your cell. No matter what happens, I will always be loyal to you, and you will always be in my heart,” she wrote.

Paul Barrett, an employee at JPMorgan, served Epstein after JPMorgan dropped him. As reported by Cryptopolitan, he continued to engage with him privately and later left JPM to be Epstein’s manager. “I left a great career at JPM to work with you […] We made a lot of money working together over the years…” Barrett wrote to Epstein.

Also, a spokesperson for Edmond de Rothschild told The Banker that de Rothschild was a business acquaintance of Epstein between 2013 and 2019. Epstein was paid $25 million to carry out strategic advisory assignments and support the bank’s overall business development.

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After years of price wars destabilizing the Chinese automobile industry, the government is finally stepping in to regulate prices and protect both manufacturers and consumers. 

China’s market regulator has released 28 new rules that target extreme price competition and encourage companies to make their platforms safer for consumers by flagging suspicious or unclear listings. 

Why is China cracking down on car price wars now?

The State Administration for Market Regulation (SAMR) in China has issued a new set of rules called the “Guideline for Compliance with Price Behavior in the Automobile Industry” in order to protect both consumers and businesses from the destructive price wars that have hurt the Chinese car market for the past few years. 

The new guideline contains five chapters and 28 articles and covers everything from how car manufacturers set their prices to how local dealerships advertise to customers. The guideline firstly sets rules for manufacturers, requiring them to manage prices through the entire production process. 

Second, it targets sales companies for “non-clear price marking” and false advertisements. Third, it encourages online platforms to set up risk prompts for very low prices that might be misleading or dangerous to the market. 

Finally, it instructs car companies to build internal compliance systems containing six specific mechanisms, including price decision-making, contract management, internal supervision, emergency response, risk control, and staff training.

According to the China Association of Automobile Manufacturers (CAAM), the Chinese automobile industry’s price war caused an estimated loss of 471 billion yuan ($65 billion) in industry output value over the last three years.

Industry data shows that 173 car models saw official price cuts in the first 11 months of 2025 alone. The industry’s pre-tax profit margin fell to just 4.3% or 4.4% in late 2025, the second-lowest level on record for the sector. 

Regulators are now worried that companies will stop investing in new technology or safety if profit margins remain so low.

Passenger car sales in China experienced the biggest percentage drop in nearly two years, dropping by 19.5% in January 2026 compared to the previous year. 

The government is now trying to encourage buyers to return to the market with the confidence that prices have stabilized. The government also extended a program that gives subsidies to people who trade in old cars for new ones. But, the 2026 version of the program gives a percentage of the car’s price rather than a fixed amount. 

How will these new price rules affect the global EV market?

The EU recently agreed to exempt the Cupra Tavascan, an electric SUV designed in Spain but made in China, from a 20.7% import tariff. In exchange, Volkswagen agreed to a minimum price floor and a sales quota, meaning the car cannot be sold in Europe below a certain price. 

An EU investigation showed that this “price undertaking” would prevent Chinese subsidies from hurting European car makers.

He Yadong, a spokesperson for the Ministry of Commerce (MOFCOM), reversed the country’s previous stance and said that China now supports its EV makers reaching “minimum price” agreements with the EU. 

China’s Ministry of Commerce is encouraging other Chinese brands like BYD and Nio to also agree to minimum prices so Chinese companies can avoid the high tariffs that were first introduced in 2024. Those tariffs ranged from 7.8% for Tesla to over 35% for SAIC. 

Under the EU’s new guidance issued in January 2026, companies that agree to minimum prices are also encouraged to invest in manufacturing plants within the European Union. This helps the EU reach its climate goals and protects local jobs.

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Lending protocols are some of the most active DeFi apps. Due to the heavy usage of smart contracts, they are also the most at risk for hacks and exploits. 

Lending protocols logged the biggest number of exploits among DeFi attacks. Historically, lending protocols suffered 67 attacks in total, out of 267 DeFi incidents reported by Sentora. 

Lending protocols are attractive for exploiters for several reasons. They contain well-funded vaults with stablecoins or valuable collateral, often in the form of ETH or BTC. Additionally, most of the on-chain lending is permissionless and relies on smart contracts. 

The other main reason is the possibility of flash loans, which are in themselves an exploit, causing market losses. Protocols also faced risks from oracles and pricing, as well as the triggering of liquidations.

Lending protocols also sometimes use new tokens to pay interest, leading to minting exploits. 

Technical error is the main reason for losses from lending protocols

Overall, most large protocols aim to increase their security and audit their smart contracts. The chief source of losses for the past 12 months ended January 2026 shows a dominance of technical issues. 

Smart contract bugs were the root cause of the majority of incidents. The second most notable cause was compromised private keys or multisig wallets. In total, smart contracts led to $526M losses across 48 incidents in the past year. 

Lending protocols hold $53B in reported value locked, and may remain a target for exploits. The attacks target smaller protocols and sometimes, specific vaults. As Cryptopolitan reported, projects like Moonwell were exploited through flaws in oracles and pricing data. 

Price manipulation incidents were also a key type of exploit, with a total of 13 incidents in the past year and $65M in losses. 

Even audited protocols were at risk, losing a total of $515M. Out-of-scope exploits lost $193M, while unaudited contracts leaked another $77M in 24 incidents. Historically, among the top 30 hacks, unaudited code is the main reason in 58.4% of cases. Most projects go through audits, but this does not protect them from all risks, as on-chain apps have multiple sources of input and interaction.

Most of the attacks against DeFi rely on careful tracking and deep knowledge of their smart contracts. The other vector of stealing funds is directed at end users. While DeFi is permissionless, new cloned DEXs are appearing. Some pretend to be decentralized, but hold user deposits and require additional fees to withdraw. 

 

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Pudgy Penguins has surged nearly 10% in the past 2 hours after the firm integrated with Visa and KAST on Thursday to launch the Pengu Card. At the time of publication, Pudgy Penguins is trading at $0.006403, up 8.8% in the past 24 hours.

Pudgy Penguins has dropped 9% in the last 7 days and more than 46.5% in the last 30 days prior to the partnership announcement. The firm’s initiative shows that it’s expanding beyond the cryptocurrency sector into retail traditional finance.

Pengu Card offers up to 12% rewards

Today, Pengu enters the world of consumer finance.

Introducing the Pengu Card on @Visa, in collaboration with @KASTxyz.

Sign up for the waitlist below to secure your very own Pengu Card. pic.twitter.com/Kdj5lNmMOw

— Pudgy Penguins (@pudgypenguins) February 11, 2026

Pudgy Penguins said on Wednesday that users can access the Pengu Card in advance via a waitlist. The Visa Debit Card will be accepted globally, targeting more than 150 million merchants.

The firm revealed that the card will offer users up to 12% rewards and up to 7% yield. The card will also enable users to directly pay with stablecoins or cryptocurrencies. Pengu Penguins said the initiative aims to enable seamless circulation of virtual assets in daily financial activities.

The financial firm released the card in three tiers: Standard Card, Black Card, and Gold Card. Pengu Penguins revealed that the Standard Card offers 6%, while the Premium and Gold Cards offer up to 8% and 12%, respectively.

Pengu Penguins added that it will offer users on the waitlist a unique referral code to invite friends to participate. Users will also receive a Black Card once they get a higher ranking on the leaderboard. The waitlist will open a few weeks before the virtual card launch.

The firm will also offer the top 10 referrers on the waitlist leaderboard a free Premium Pengu Card. The referral program will rank users by total successful referrals, with the final leaderboard confirmed before launch.

KAST also revealed that users will require a verified KAST account to receive and use the Pengu Card. The Pengu card will be accepted in more than 170 countries where Visa is accepted. 

Pengu Penguins said it will first launch the card as a virtual card, enabling users to use it online with digital wallets. The firm confirmed that it will release a physical card later and will offer waitlist members early updates on the release. Pengu Penguins and KAST have also arranged a party in Hong Kong to celebrate the project, with the firm promising attendees an early access code and exclusive merch. 

Pudgy Penguins hosts a three-day Valentine’s pop-up event

The firm is also planning to host the Pudgy Petals for Valentine’s Day pop-up event, signifying its efforts to build cultural relevance. The firm said the three-day event in New York City will feature major retailers and integrate with physical products in the Pudgy World metaverse. Pudgy Penguins will offer the Pudgy Penguins Plush Bouquet ($49.99), featuring plush characters and soft textures as an alternative to traditional flowers.

“The Plushie Bouquet marked our first Valentine’s Day expression. The item is intentionally positioned as a long-lasting symbol of companionship designed to be kept and revisited rather than disregarded after a few days like traditional flowers or candy.”

-Steve Starobinsky, Director of Business Development at Pudgy Penguins.

Starobinsky also revealed that the firm is aiming to expand the pop-up event globally in 2027. Pudgy Penguins began as an internet-native phenomenon and NFT project after Canary Capital filed for an S-1 form with the U.S. Securities and Exchange Commission in March 2025 to list a fund tracking PENGU.

Cryptopolitan previously reported that the SEC has extended its review of a Pengu ETF proposal filed by Grayscale and T. Rowe Price. The ETFs will be the first funds to include both the PENGU token and Pudgy Penguins NFTs once approved. The firm also revealed that the ETF will hold Solana and Ethereum to allow the sale and purchase of the included assets.

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Solana network has experienced explosive growth in payment volume, outpacing both Web3 and Web2 platforms. The network’s payment volume grew 755% year on year, according to Artemis data.

The Solana network is currently leading all payment platforms across Web2 and Web3 in total payment volume. According to data from onchain data provider Artemis, Solana’s payment processing volume grew 755% year over year across all platforms, with total payment volume exceeding $1.8 billion.

Solana Network’s B2B payment volume rises by 9X in 16 months, onchain data shows

Solana leads payments growth across all platforms, at +755% YoY.

While blockchains are winning growth (+755% on $6.5B), TradFi still owns volume (PayPal processes $1.8T). https://t.co/9bW2qfzIlA pic.twitter.com/k0BlKxdckJ

— Artemis (@artemis) February 11, 2026

In comparison, Artemis data showed that stablecoin payment volume increased by over 137% year over year as of August 2025, with B2B accounting for the largest share across all stablecoins. The data also shows that Solana’s B2B payment volume grew by 9X to $3.84 billion in just 16 months.

Solana Network has also witnessed massive growth in spot trading volume. A previous report by Cryptopolitan, dated January 5, highlighted that the network recorded $1.6 trillion in spot trading volume in 2025, outpacing major crypto exchanges.

Solana’s trading volume accounted for 11.92% of the global spot market according to onchain data. The network’s spot volume ranked it only behind Binance, which led the pack with $7.2 trillion. According to onchain data, Solana outperformed major crypto exchanges such as Bybit, Coinbase, and Bitget in 2025. 

Data from the open-source DeFi data aggregator DefiLlama shows that SOL’s monthly volume on decentralized exchanges outperformed major rivals such as Ethereum and BSC in most of 2025, peaking in January 2025 at $313.91 billion.

In the same month, Ethereum followed in second place with a total trading volume of $85.692 billion, while Base ranked third with $50 billion. Solana ended the year with total trading volume exceeding $1.5 trillion, while Ethereum clocked $950 billion.

SOL price dips, sending treasury firms tumbling

However, SOL has had a rough start to the year amid the ongoing crypto winter. The crypto asset is down 9% over the last 7 days, according to CoinMarketCap data. SOL has declined by more than 35% year to date and is trading at $82.38 at the time of this publication.

The price decline has had a devastating impact on SOL treasury firms. Cryptopolitan recently reported that Solana treasury firms have seen their holdings decline after SOL fell nearly 40% over the last 30 days.

According to data from Coingecko, Forward Industries currently ranks first with 6.9 million Solana in its books, valued at $564.38 million. In comparison, Solana Company claims the second spot with 2.3 million SOL, valued at $187.8 million. The report noted that SOL’s price mirrored the massive liquidations that occurred on Friday, wiping out more than $300 million in long positions. 

Spot SOL ETFs have recorded net outflows of more than $10 million so far in February. Data from Sosovalue shows that these funds recorded inflows worth $478.90k on Wednesday after drawing $8.43 million from investors the previous day. The funds currently hold $673.99 million in net assets under management, which accounts for 1.49% of the crypto asset’s total market capitalization.

Solana’s daily validator count has fallen to its lowest level since 2021, below 800. The figures mark a significant decline from the network’s peak validator count of 2,500 recorded in early 2023. The decline in validator count could be a deliberate effort by the Solana Foundation, according to a previous Cryptopolitan coverage.

The report noted that the foundation implemented a deliberate behind-the-scenes restructuring to reshape validator conditions and requirements. The pruning phase led the Solana Foundation to offload many underperforming nodes amid efforts to improve the network’s quality and reliability.

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Spot crypto trading on centralized and decentralized exchanges expanded in January. Binance was once again the leading market, boosting the growth to 10% compared to December 2025. 

Spot crypto trading on centralized exchanges remains active, even after the drawdown of leveraged liquidity. On average, activity expanded by 10% in January, compared with December 2025.

The top growth was noted on Uniswap, up by 84%. Bitfinex added 70% to its volumes, and Upbit expanded its activity by 44%. 

The biggest outflows happened on HTX, down 19%, and Bybit, down 16%. KuCoin lost 7% of its January volume. 

Derivative crypto trading slowed down in January

The crypto market still has sufficient liquidity, though concentrated into BTC and ETH, as Cryptopolitan reported. The crypto space has a record supply of stablecoins capable of ensuring active spot trading. 

Derivative activity has lost its momentum, meaning exchanges operate with lower leverage. In January 2026, derivatives trading volumes declined by 5% on average. MEXC led the decline, down 36%, followed by Aster (down 24%). 

Coinbase showed an increase of 49% for derivatives, while Hyperliquid recovered 19% of its volumes. 

Binance remained the top spot and derivative exchange, up by 12.5% for spot trading activity. However, Binance only saw a 0.7% increase for its derivative trading, reflecting the cautious market sentiment. Trading data may be inaccurate by including bot-driven orders and wash trading. 

Web traffic to exchanges remained mostly unchanged, though South Korean markets like Upbit and KuCoin saw increased visits. MEXC continued to slow down, losing 8% of its site visits. 

Traders searched for short-term resolution

Crypto trading in January saw an uptick in volumes, while most assets took a downturn. For some DEXs and markets, activity reached peak levels, as traders divested their positions. 

A part of the volume expansion was due to selling, as well as some spot accumulation. Without a clear directional move and greed sentiment, the current spot-driven market may mean a period of sideways trading for major assets. 

DEXs retained a relatively high share of 16.9% of centralized activity. Those markets were also more widely used by retail and for meme token trading. Centralized market orders also diminished in size. 

The size of spot orders declined in January, while smaller whales and retail reappeared in February. | Source: Cryptoquant

In the past weeks, retail orders returned, alongside orders from smaller whales. Larger whales continued with silent accumulation, but did not add to active daily trading volumes.

While the market moves sideways, smaller wallets were noticed buying back BTC, as well as ETH, while whales continued to sell. Crypto trades with peak uncertainty and higher volatility, as questions were raised on whether BTC could go lower in an extended bear market.

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The full blocking of WhatsApp in Russia is linked to the nation’s firewall running out of capacity amid attempts to slow down Telegram, experts in the field suggest.

Besides the two messengers, Russian authorities are also cutting traffic to YouTube, overloading the technology employed by the state to censor internet for its citizens.

Russia extends itself to block massive online content and communication

The sudden and complete restriction of access to the popular messenger WhatsApp and YouTube in Russia is likely related to efforts to slow down Telegram, local media unveiled, quoting specialists with knowledge of how the system works.

Russia’s telecom watchdog, Roskomnadzor, removed the WhatsApp domain from its DNS servers on Wednesday, effectively preventing the use of Meta’s messaging service in the country. It appears it did that also with Google’s video sharing platform a day earlier.

The domains have been deleted from the National Domain Name System (NDNS), established after the adoption of the so-called “sovereign internet” law.

Under the legislation, the Federal Service for Supervision of Communications, Information Technology and Mass Media (Roskomnadzor) is responsible for enforcing the Russian equivalent to the Chinese framework for internet control.

The strategy is the same in both case, so is the reason which is of technical nature, according to Dzhemali Avalishvili, managing director of the infrastructure integrator Ultimatek, who commented on the latest developments for RBC. Quoted by the Russian business news portal, Avalishvili explained further:

“There’s only one reason, and it’s technical – the TSPU equipment is operating at the limit of its capacity.”

The TSPU (Technical Means of Counteracting Threats) devices are deployed at internet service providers to allow them to throttle or block internet traffic to targeted platforms.

In comparison with China’s “Great Firewall,” which operates on a national level, Russia’s solution allows for more precise, highly targeted and geographically defined restricting.

However, the Russian system isn’t built to last, Avalishvili pointed out, and is running out of resources now when it has to deal with multiple and widely used platforms. He elaborated:

“The infrastructure simply can’t handle simultaneously squashing YouTube, Telegram, and WhatsApp. It’s like trying to run three heavy apps on an old laptop.”

Targeting Telegram is harder and requires resources that Russia doesn’t have

Slowing down Telegram is much harder than in the case of all of the other affected services and websites, the expert emphasized.

He highlighted that tech entrepreneur Pavel Durov’s messenger has stronger security and more experience with previous attempts to block it in other countries.

Avalishvili added that Telegram’s unique architecture relies on a distributed infrastructure of mirrors and content delivery networks (CDNs).

“Its encryption protocol is designed to make deep packet inspection (DPI) as difficult as possible. To slow down Telegram, you need to deploy colossal computing power,” he detailed.

The privacy-oriented messenger has tens of millions of users in Russia, and not only among citizens and businesses, but also government institutions and other organizations.

Almost everyone in the country has the messenger installed on their smartphones, logging in several times a day to read and write, chimed in Alexey Uchakin, an independent telecom market specialist.

“This represents a huge amount of traffic and a huge number of connections from end-user devices to Telegram servers. The messenger has learned to bypass many standard blocking mechanisms.”

While WhatsApp used to be more popular in the Russian Federation, it never significantly modernized its infrastructure to successfully circumvent Moscow’s restrictions, he noted, agreeing that blocking Telegram is definitely harder.

He is convinced that Roskomnadzor is removing the domains of previously restricted services to “clear up resources to slow down Telegram.”

In a broad interview with the official TASS news agency, the Kremlin’s spokesman Dmitry Peskov insisted that the messenger must comply with Russia’s laws and ensure protection for its citizens, before the restrictions are removed, although some say Moscow has already made up its mind about its future.

President Putin’s press secretary set similar conditions for resuming WhatsApp’s full services in Russia, where its parent company, Facebook’s owner Meta, has been designated as an “extremist” organization. He accused the latter of lacking the willingness to engage in dialogue with Russian authorities on the matter.

Roskmonadzor limited voice calls through both apps in August, alleging they were increasingly being used by fraudsters and extremists. The measures against them seem to be part of a campaign to make Russians use a state-approved alternative called Max, which critics say can be used for surveillance and censorship.

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World Liberty Financial is expanding its operations into foreign exchange trading in order to strengthen its USD1 stablecoin ecosystem. The Trump-associated crypto firm confirmed at Consensus Hong Kong that it will launch “World Swap”, a USD1-based forex platform. 

Co-founder Zak Folkman said more information will be released at an upcoming Mar-a-Lago event. However, the core goal is already obvious. World Liberty Financial wants USD1 to anchor a full-stack digital finance network that includes payments, lending, asset tokenization, and now foreign exchange.

World Liberty takes on the global money game

World Liberty Financial aims to compete directly with traditional remittance firms. According to company statements, legacy operators charge between 2% – 10% per transfer. Therefore, World Swap aims to reduce costs by incorporating cross-border currency exchange into the USD1 ecosystem.

Users will send and receive digital dollars via an interface aimed to be similar to mainstream payment apps. As a result, the platform aims to reduce the friction commonly associated with managing crypto wallets and private keys. 

USD1 is at the base of the whole model. The stablecoin has reached more than $5 billion in market capitalization in the first year of its existence. It is now among the top 25 cryptocurrencies by market capitalization. Folkman said that the growth of stablecoins has enabled the firm to accelerate product development. 

USD1 powers a bold market expansion

World Liberty Financial has continually expanded its product line. At the Hong Kong conference, Folkman described World Liberty Markets as a lending platform that raised hundreds of millions of dollars in deposits within weeks of its launch. 

The firm has also secured partnerships with decentralized finance protocols to increase the circulation of stablecoins. These collaborations are looking to inject USD1 into multiple blockchain environments. Therefore, adoption is no longer confined to peer-to-peer payments.

Last month, the company partnered with Spacecoin to develop a USD1-focused token swap system. Spacecoin launched three satellites into low Earth orbit to support its network infrastructure. The satellite structure will be based on World Liberty’s financial systems for transaction processing, connecting digital finance with space-based communications.

In addition, the company has announced plans to introduce real-world asset products that are collateralized by USD1. This initiative is aimed at institutional investors who are seeking exposure to tokenized traditional assets. The RWA offerings will also increase the stablecoin’s utility beyond peer-to-peer transactions.

World Liberty Financial also unveiled a branded WLFI debit card that will enable holders to spend digital assets in everyday activities. The card is meant to link crypto balances with traditional payment networks. 

Meanwhile, the firm’s native token, WLFI, has been moving higher. As of the latest data, WLFI is trading around $0.107, up 7.53% over the past 24 hours. Market capitalization is about $2.86 billion. 

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Samsung Electronics has begun mass production and shipment of its next-generation high-bandwidth memory (HBM4), claiming significant performance gains that challenge longtime rival SK Hynix’s dominance and intensify competition with other players like Micron.

According to Samsung, its HBM4 chips deliver a consistent transfer speed of 11.7 gigabits per second (Gbps), roughly 46% faster than the JEDEC industry standard of 8 Gbps, and can be pushed to 13 Gbps under optimized conditions.

In a statement dated Thursday, February 12, Samsung mentioned that it is striving to keep up with the high demand for Nvidia Corp.’s graphics chips. This surging demand stems from the chips’ cutting-edge features, positioning them as the industry-leading choice for AI model training and operationalization.

Samsung seeks to solidify its position as a leader in the tech industry 

For some time, Samsung has observed its competitor, SK Hynix Inc., gaining dominant market share and capturing the majority of Nvidia’s high-bandwidth memory orders. High-bandwidth memory is a key component for AI accelerators.

Nonetheless, after years of hard work, Samsung recently narrowed this gap through its latest strategic move. Both tech giants have solidified their positions as the most valuable tech firms in South Korea by market capitalization. Moreover, they have witnessed a significant surge in their stock prices since September last year amid fears of a memory shortage. 

Responding to these fears, the Corporate President and Chief Technology Officer (CTO) of Samsung Electronics’ Device Solutions Business, Jaihyuk Song, forecast significant supply constraints for both this year and next. 

Meanwhile, regarding Samsung’s first delivery phase for its new HBM4 memory chips, Song mentioned that they are setting the standard in the high-performance memory industry again, reigniting growth as the definitive leader in memory. Afterwards, the industry executive asserted that the company’s stock prices would rise significantly to high levels.

He expressed this unexpected confidence in Seoul during the Semicon Korea conference, where he was the featured speaker. Song made these remarks after another senior executive from Samsung earlier shared a brief message stating that the tech giant is back. This statement sparked hope that Nvidia will soon adopt the firm’s next-generation high-bandwidth memory as its preferred option.

“We’re showing Samsung’s true abilities once more,” Song said, further arguing that, “Although we haven’t fully showcased how Samsung meets customer needs with top-notch technology for a while, you can see this as our return to form.” 

Memory supply shortage remains a primary concern in the industry 

Regarding shortages in memory chip supply, Samsung’s industry executives said this situation could trigger price hikes across the industry, impacting the firm’s own client products.

To further demonstrate the intensity of the situation, reports highlighted that, despite its status as the top memory producer, Samsung is constrained by the escalating costs of these foundational components, which range from smartphones and laptops to smart home devices and self-driving vehicles.

During an interview, Wonjin Lee, president and head of global marketing, commented on this matter. He noted that, “There will be challenges with semiconductor supplies, and everyone will feel the impact,” adding that, “Prices are increasing right now. We definitely don’t want to pass that cost onto consumers, but we may reach a point where we have to rethink our product pricing.” 

Lee made this statement at CES in Las Vegas, where the company was exhibiting its full lineup of electronic products from small wireless earbuds to top-notch 130-inch TVs. Like many event exhibitors, Samsung sought to promote its vision of a more connected, AI-enhanced product lineup amid rising production costs.

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Israeli authorities have formally charged an army reservist and a civilian accused of using classified military information to place bets on Polymarket.

According to court documents and official statements released Thursday, the Tel Aviv District Court lifted a gag order at the request of the State Attorney’s Office cyber department, allowing limited disclosure of the investigation. 

State officials claim the accused reservist had accessed classified information during his military service, which he passed to a civilian to place wagers online.

Israeli law enforcement confirmed the suspects were arrested during a joint operation with domestic security agency Shin Bet, the Arazim investigations unit within the Defense Ministry’s Security Authority, and Israel Police.

Ex-military shared classified data that a civilian used on Polymarket 

Local news outlet The Jerusalem Post reported that prosecutors filed indictments against both suspects on several charges, including severe security offenses, bribery, and obstruction of justice. The investigators allege the pair used confidential operational information to gain a betting advantage in military-related markets.

“The defense establishment emphasizes that placing such bets, based on secret and classified information, poses a real security risk to IDF operations and to the security of the state,” a joint statement from authorities read. The officials noted they would “thwart and bring to justice anyone involved in the unlawful use of classified information.”

The Israeli military separately condemned the alleged conduct, stating the reservist’s actions represented “a serious ethical failure and a clear crossing of a red line, which are inconsistent with the IDF’s values and the standards expected of its service members.”

Last month, Israel’s public broadcaster Kan reported that Shin Bet had begun investigating suspicions that someone within the defense establishment was leaking classified documents for betting purposes.

According to information from the said investigation, an online user with the moniker ricosuave666 made bets which correctly foretold Israeli military activities against Iran. According to the prosecution, these wagers amounted to tens of thousands of dollars, with an estimated profit of $150,000.

However, the reservist’s Attorney, Nir Cohen Rochverger, has disputed some elements of the charges. Rochverger said authorities had to drop an earlier allegation claiming his client harmed Israel’s national security.

“Our client is a highly regarded individual who has made a significant contribution to Israel’s security. Due to the broad gag order, we cannot at this stage address the matter in detail, only clarify what it does not contain,” he said in a statement.

He also mentioned that the defense intends to challenge the case on several grounds, including the agencies’ involvement in investigative misconduct. 

“We have strong arguments regarding the indictment that was filed, the defects in it, selective enforcement, and the improper and severe conduct of the investigative bodies, which itself caused harm to security. We are convinced that once these are presented, the case will conclude in a manner entirely different from how it began.”

Insider trading allegations put spotlight on prediction markets

The Israeli case joins a list of instances in which authorities believe classified information was used in decentralized prediction markets. Regulators and lawmakers in several jurisdictions, like the US, are probing whether existing financial or gambling laws adequately cover prediction markets.

In January, US Representative Ritchie Torres proposed legislation to stop insider trading on such platforms after a trader reportedly earned about $400,000 by wagering on the capture of Venezuelan President Nicolás Maduro, hours before the news became public.

Advocates of prediction markets argue that such activities should not be classified as simply “gambling.” The thought is the collective betting information provides better insight into what will happen in the future compared to traditional polls.

“It’s the most accurate thing we have as mankind right now, until someone else creates some sort of super crystal ball,” Polymarket chief executive Shayne Coplan told CBS’s 60 Minutes last November.

Blockchain analyst Andrew 10 Gwei, who has investigated insider trading within crypto startups, said prediction markets share information with the public faster than conventional news channels. “You gain access to critical information about key world events faster than everyone else,” he said.

Kalshi recently recorded one of its busiest trading days during the Super Bowl, with users placing a $113 million pool predicting which song the Puerto Rican singer Bad Bunny would perform at halftime.

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Mercedes just posted one of its toughest years in recent memory. Full-year earnings before interest and taxes dropped 57% in 2025. The damage came largely from about $1.2 billion in tariff costs, heavy price pressure in China, and currency headwinds.

Revenue fell 9.2% to €132.2 billion. Net profit dropped 48.8% to €5.3 billion. Earnings per share slid to €5.34 from €10.19. Free cash flow from the industrial business came in at €5.4 billion, down from €9.2 billion a year earlier.

Even with that hit, Mercedes said results landed within its own guidance. Adjusted EBIT reached €8.2 billion compared with €13.7 billion in 2024.

Net liquidity in the industrial business stood at €32.2 billion at year end, slightly higher than €31.4 billion the year before. Shareholders still got a total return above 20% in 2025, and Mercedes proposed a dividend of €3.50 per share.

Mercedes reports full 2025 financial results across all divisions

The cars division took the biggest punch. Adjusted EBIT at Mercedes Cars fell to €4.8 billion from €8.7 billion. Revenue dropped 10.5% to €96.4 billion. Unit sales declined 9.2% to 1,801,291 vehicles.

Battery electric vehicle sales fell 8.8% to 168,823 units. Electrified vehicles overall reached 368,700 units, barely above last year. The xEV share rose to 20.5% of total sales from 18.5%.

Adjusted return on sales at Mercedes Cars landed at 5.0%, down from 8.1%. Without tariffs it would have been 6.1%. Cash flow before interest and taxes dropped to €5.2 billion. The adjusted cash conversion rate improved to 1.2. Research and development spending declined year over year, while investments in property, plant and equipment increased due to new product launches. Cost savings under the Next Level Performance plan added more than €3.5 billion to EBIT.

The vans division at Mercedes delivered an adjusted return on sales of 10.2%. That was lower than 14.6% in 2024 but still double digit. Unit sales fell 11.5% to 359,136 vans.

Fully electric van sales jumped 46% to 28,488 units. BEVs made up 7.9% of global van sales and 11% in Europe. Revenue declined 11.2% to €17.1 billion. Adjusted EBIT reached €1.75 billion. Cash flow before interest and taxes fell to €951 million.

Mercedes Financial Services reported adjusted EBIT of €1.27 billion, up from €1.13 billion. Adjusted return on equity improved to 9.7% from 8.7%. Total portfolio volume stood at €128.8 billion, down from €138.1 billion.

New business reached €55.9 billion. Revenue in the unit slipped 1.8% to €24.6 billion. The finance arm merged with vehicle sales at the end of December 2025 to form a single customer-focused structure.

Mercedes accelerates product launches and outlines cost cuts through 2027

In 2025, Mercedes launched the all-new CLA at the start of the year and ended the year with the new GLB and GLC. The CLA won Europe’s Car of the Year 2026 and Euro NCAP’s Best Performer among 2025 tested vehicles. Order books stretch well into the second half of 2026. Production runs on three shifts in some plants. Quarterly BEV volumes improved as the year went on.

The upgraded S-Class now includes a new V8 engine and the MB.OS operating system. The model carries an updateable MB.OS Supercomputer, fourth-generation MBUX, and MB.DRIVE ASSIST PRO point-to-point assisted driving. China gets the system first, with the United States following later in 2026.

Chief executive Ola Källenius said, “We successfully kicked off our biggest ever product and tech launch program in 2025. We are launching more than 40 new models in three years.”

Looking ahead, Mercedes expects 2026 group revenue to match 2025 levels. Group EBIT should come in significantly above 2025. Free cash flow from the industrial business will likely sit slightly below 2025.

Adjusted return on sales for cars is guided between 3% and 5%. Vans are guided at 8% to 10%. Financial Services return on equity is seen between 10% and 12%.

Medium term, Mercedes targets around 2 million vehicle sales, with more than a 15% increase in Top-End sales and a doubling of xEV share. Global production capacity will be adjusted to about 2.2 million units by 2028.

Assembly at the COMPAS joint venture in Mexico ends in 2026. Germany capacity will be 900,000 units and Hungary up to 400,000 units.

Production costs per unit are set to fall 10% from 2027 versus 2024. Fixed costs should drop 10% between 2024 and 2027. Material cost savings are targeted at 8% by 2027 and 10% beyond that.

In China, Mercedes aims to cut local material costs by 10%, variable production costs by 20%, and fixed costs by 20% by 2027 through local partnerships including Momenta and ByteDance.

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RLUSD on Ethereum has reached $1.2 billion in supply after 14 months of launch, representing a roughly 10× year-over-year increase and reflecting the stablecoin’s rapid traction.

The $1.2 billion milestone marks a 20% increase since RLUSD reached a supply of over $1 billion on the ETH blockchain in early November 2025, only a few days after hitting $900 million on October 24 of last year.

RLUSD drives growth in the Ethereum stablecoin market

BREAKING: @Ripple's RLUSD on @ethereum reaches $1.2 billion in supply, up ~10x YoY.

A chart to follow 👇 pic.twitter.com/RitA3Upna8

— Token Terminal 📊 (@tokenterminal) February 11, 2026

RLUSD is used on both the XRP Ledger (XRPL) and the Ethereum network. On-chain data reveals that XRPL accounts for 348 million tokens, representing 22.87% and Ethereum holds the majority of the supply at roughly 1.2 billion tokens, representing 77.13% of market share. 

On-chain data showed that the supply of Ethereum’s RLUSD rose by 2.40% over the last seven days and by 11.54% over the last month. The supply of XRPL increased by 4.50% over the past month, driven by continued issuance and adoption across both networks.

RLUSD supply split with 1.2B ETH, 348M XRPL. Source: DefiLIama

RWA.xyz data shows that as of February 12, RLUSD’s market capitalization is $1.52 billion, up 9.85% over the previous 30 days. There are 41,277 active holdings, including 3,206 active addresses, and a 30-day trading volume of $3.2 billion.

RLUSD is one of the top ten stablecoins by market capitalization of $1.5 billion, ranking alongside well-known platforms like Tether Holdings ($173.2 billion), Circle ($72.5 billion), MakerDAO ($10.0 billion), Binance ($9.3 billion), Ethena ($7.4 billion), BitGo ($5.4 billion), Paxos ($5.2 billion), Polygon Bridge ($2.3 billion), and Falcon Finance ($1.8 billion). 

RWA.xyz data also reveals that the total market capitalization of the stablecoin market stands at $295.11 billion, down 0.53% over the previous 30 days. Stablecoins have a 22.07% increase in monthly transfer volume to $9.75 trillion. 

The number of monthly active addresses dropped by 11.40% to 41.31 million, despite the increase in transaction volume, suggesting that although stablecoins are moving in significant quantities, a small number of unique users are actively transacting.

The number of asset owners has also increased, rising 4.24% from the previous month to 228.97 million. The increase suggests that more people are holding stablecoins for payments, savings, or trading. Even as interaction per active address declines, the market is still exhibiting strong transactional demand and overall user adoption.

RWA.xyz data shows that Ethereum led the stablecoin ecosystem, accounting for $163.6 billion of the total market capitalization. TRON came in second with $83.7 billion, Solana with $16.3 billion, BNB Chain with $12.7 billion, and Arbitrum with $7.7 billion.

Institutions drive stablecoin growth through partnerships and investments

Institutional companies are also stepping up amid strong transactional activity and expanding stablecoin adoption, forming alliances and making smart investments that further assist market expansion and practical use cases.

Ripple and Zand Bank expanded their partnership last month to include regulated digital asset custody mechanisms under UAE oversight and link RLUSD and AEDZ on the XRP Ledger to create liquidity channels.

Avalanche announced in the same month that it had hosted Fosun Wealth’s yield-bearing RWA stablecoin, FUSD. According to the announcement,  the government bonds and money market funds back the assets. Avalanche further revealed that the assets distribute rewards on real-world assets.

According to a Cryptopolitan report, dated February 4, Tether responded to media reports, stating that the company had canceled a scheduled fundraising event due to investor concerns about a $500 billion valuation. The company made it clear that the numbers were speculative and not actual goals. 

Cryptopolitan also reported that Tether invested $100 million in Anchorage Digital, a $4.2 billion digital asset bank with federal charter status.

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Investor money poured into Chinese artificial intelligence companies Thursday after several businesses rolled out new technology and Beijing’s leadership called for faster adoption across the country.

Zhipu AI, which is listed on the Hong Kong exchange under the name Knowledge Atlas Technology, jumped almost 30% to close at 405 Hong Kong dollars ($51.8). The spike happened right after the company put out GLM-5, a model anyone can use that handles coding work and manages tasks over long stretches without stopping.

Zhipu said its new tool performs close to Anthropic’s Claude Opus 4.5 when tested on coding tasks and beats Google’s Gemini 3 Pro in certain areas, though no one outside the company has checked those numbers yet.

MiniMax shares climbed 13.7% to reach 70.5 Hong Kong dollars by market close after launching an updated version called M2.5 on Wednesday. The company markets this as “a model built for Max coding & agentic workflows” with better tools for AI agents, released through its international website.

The market reaction to these announcements shows investors remain confident in Chinese AI businesses despite global uncertainty. UCloud Tech, a Shanghai-listed firm that provides computing power for Zhipu, hit its daily trading limit with a 20% gain on Thursday.

SenseTime, which changed its focus from facial recognition surveillance equipment to AI software platforms, saw its Hong Kong shares rise 6.8%.

DeepSeek, Ant Group, and ByteDance roll out updates

DeepSeek, the startup that grabbed worldwide attention and caused major market disruptions last year, updated its main AI model on Wednesday by expanding what it can process and adding fresher information. The company has faced growing regulatory scrutiny from governments concerned about data security and its connections to Chinese authorities.

Ant Group released its Ming-Flash-Omni 2.0 model Wednesday, described as a tool that can create speech, music, sound effects and images. ByteDance kicked off the week Monday by launching Seedance 2.0, its newest AI video tool, which triggered gains across Chinese AI app stocks.

Reports suggest the company is also working with Samsung to develop its own chips.

Beijing signals strong government support

Premier Li Qiang stressed Wednesday that China needs to push for “scaled and commercialized application of AI” while improving coordination of computing resources and power systems. He emphasized Beijing’s plans to create a better environment for AI talent and businesses.

The surge in pure AI startups contrasts with drops in major Chinese tech companies that also run AI divisions. Tencent shares fell 2.6% while Alibaba declined 2.1%. The Hong Kong Hang Seng Tech index dropped 1.7%.

These developments happen as Chinese companies race to match American competitors while spending far less money. A RAND research group report published last month found Chinese models run at roughly one-sixth to one-fourth the cost of similar American systems. This approach lets Chinese firms focus on practical uses rather than chasing huge capital spending.

Tai Hui, APAC chief market strategist at JPMorgan, told CNBC Thursday he thinks talk of an AI bubble seems “a little premature” since many quality companies globally still have solid fundamentals.

JPMorgan analysts recently started coverage of Zhipu and MiniMax with “Buy” ratings, projecting MiniMax will see revenue grow at 138% annually through 2030 while Zhipu grows 127% over the same period, with both companies expected to turn profitable in 2029.

Rolf Bulk, an analyst at Futurum Group, noted Chinese technology companies have taken a relatively frugal approach to AI development, with far less capital spending than American rivals while focusing on the domestic market.

As Cryptopolitan previously covered, DeepSeek’s breakthrough showed the industry that powerful models can be created even under resource constraints, forcing Chinese competitors to accelerate their own development timelines.

Chinese AI firms are preparing for sustained competition with US companies. With government backing and lower operating costs, these businesses might capture growing market share in developing countries where affordability matters more than cutting-edge features.

However, ongoing regulatory concerns about data security and government access could limit their expansion into Western markets.

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Binance Co-CEO Richard Teng insisted that the crypto market collapse on October 10 was caused by global macroeconomic shocks, not by centralized exchanges like Binance.

Speaking Thursday at CoinDesk’s Consensus Hong Kong conference, Teng said the event wiped out $19 billion in leveraged positions across crypto markets. He argued that liquidations occurred simultaneously on both centralized and decentralized platforms.

Teng linked the October market selloff to geopolitical tensions, citing US tariffs on China and Beijing’s export restrictions on rare-earth metals. According to the Binance lead, those developments completely flipped the sentiment of a market that had already begun showing signs of weakness.

Co-CEO Richard Teng, macroeconomic factors are to blame for 10/10

Teng told the conference attendees and panelists that the first tipover came after US President Donald Trump announced plans to impose an additional 100% tariff on Chinese goods. The proposal also included export controls on certain software technologies.

China responded to Trump’s threats by introducing tighter controls on rare earth metals, critical components for advanced manufacturing and electronics. According to Teng, the back-and-forth between Beijing and Washington led to declines across several asset classes, including crypto, pointing to steep downturns in US equities.

The US equity market plunged $1.5 trillion in value that day. US stocks alone saw $150 billion of liquidation. The crypto market is much smaller. It was about $19 billion. And the liquidation on crypto happened across all the exchanges.

Richard Teng.

Bitcoin had touched its all-time high of $125,000 earlier that week, before dropping to around $104,000 over the weekend and falling further below six figures later in October.

Data from Coinglass showed more than 1.6 million traders were liquidated during the 24-hour period of 10/10. Over $7 billion worth of positions closed within less than one hour, but

Coinglass suggested the true liquidation total may have been higher, as exchanges like Binance do not always report real-time data.

Teng said 75% of liquidations occurred around 9:00 PM Eastern Time, which coincided with two isolated market disruptions on exchanges. One incident involved a temporary stablecoin de-pegging, while another involved slowed asset transfers on certain platforms.

On Binance, the stablecoin USDe dropped to $0.65 during the turmoil, triggering further forced liquidations in liquid staking derivatives, alternative layer-1 tokens, and derivatives markets. Total perpetual futures open interest in major exchanges dropped 43% from $217 billion to $123 billion within the first 24 hours of the liquidation doomsday.

However, Teng has bashed claims that Binance caused the liquidation wave, saying there were no abnormal withdrawal patterns from the platform during the event. Binance facilitated $34 trillion in trading volume last year and serves about 300 million users globally, according to Teng.

When some users experienced losses during the crash, Binance provided support to affected traders. “The data speaks for itself,” Teng boasted.

At the macro level, I think people are still uncertain about interest rate movements going forward, and there’s always the trend of geopolitics, tension, etc. Those weigh on these assets, such as crypto.

Richard Teng

He also noted that retail demand appeared weaker compared with previous market cycles, but institutional and corporate participation is still heavy.

Richard Teng praises the US government for passing the stablecoin law

Speaking on how the US government’s push for clarity in digital asset regulation benefited the industry, Teng reiterated that a lot of institutions jumped to try to issue their own stablecoins and partner with issuers once the GENIUS Act was signed into law. 

Corporates are much more willing. And if you look at corporate treasuries now globally, they are moving from traditional fiat channels to stablecoins and crypto. Market cap of stablecoin after the passing of the Genius Act, it went up by 50% last year.

Richard Teng

The Binance CEO also mentioned the stalled CLARITY Act, saying he hoped it would have the same impact on developers, innovators, and crypto exchanges. “Innovation can really be pushed forward to take place,” Teng concluded.

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The Pentagon is putting real pressure on major artificial intelligence companies to give the U.S. military access to their tools inside classified systems.

Officials aren’t just asking for basic access. They want these AI models to work without all the usual limits companies place on users.

During a White House meeting on Tuesday, Emil Michael, the Pentagon’s Chief Technology Officer, told tech leaders the military wants these AI models running across both classified and unclassified networks.

An official close to the talks allegedly said the government is now set on getting what it calls “frontier AI capabilities” into every level of military use.

Pentagon demands access without restrictions across secure networks

This push is part of bigger talks about how AI will be used in future combat. Wars are already being shaped by drone swarms, robots, and nonstop cyberattacks. The Pentagon doesn’t want to play catch-up while the tech world draws lines around what’s allowed.

Right now, most companies working with the military are offering watered-down versions of their models. These only run on open, unclassified systems used for admin work. Anthropic is the one exception.

Claude, its chatbot, can be used in some classified settings, but only through third-party platforms. Even then, government users still have to follow Anthropic’s rules.

What the Pentagon wants is direct access inside highly sensitive classified networks. These systems are used for stuff like planning missions or locking in targets. It’s not clear when or how chatbots like Claude or ChatGPT would be installed on those networks, but that’s the goal.

Officials believe AI can help process huge amounts of data and feed that to decision-makers fast. But if those tools generate false info, and they do, people could die. Researchers have warned about exactly that.

OpenAI made a deal with the Pentagon this week. ChatGPT will now be used on an unclassified network called genai.mil. That network already reaches over 3 million employees across the Defense Department.

As part of the deal, OpenAI removed a lot of its normal usage limits. There are still some guardrails in place, but the Pentagon got most of what it wanted.

A company spokesperson said any expansion to classified use would need a new deal. Google and Elon Musk’s xAI have done similar deals in the past.

AI researchers are quitting and calling out the risks

Talks with Anthropic haven’t been as easy. Leaders at the company told the Pentagon they don’t want their tech used for automatic targeting or spying on people inside the U.S.

Even though Claude is being used already in some national security missions, the company’s executives are pushing back. In a statement, a spokesperson said:-

“Anthropic is committed to protecting America’s lead in AI and helping the U.S. government counter foreign threats by giving our warfighters access to the most advanced AI capabilities.”

They said Claude is already in use, and the company is still working closely with what’s now called the Department of War. President Donald Trump recently ordered the Defense Department to adopt that name, but Congress still needs to approve it.

While all of this is happening, a bunch of researchers at these companies are walking out. One of Anthropic’s top safeguards researchers said, “The world is in peril,” as he quit. A researcher at OpenAI also left, saying the tech has “a potential for manipulating users in ways we don’t have the tools to understand, let alone prevent.”

Some of the people leaving aren’t doing it quietly. They’re warning that things are moving too fast and the risks are being ignored. Zoë Hitzig, who worked at OpenAI for two years, quit this week.

In an essay, she said she had “deep reservations” about how the company is planning to bring in ads. She also said ChatGPT stores people’s private data, things like “medical fears, their relationship problems, their beliefs about God and the afterlife.”

She said that’s a huge problem because people trust the chatbot and don’t think it has any hidden motives.

Around the same time, tech site Platformer reported that OpenAI got rid of its mission alignment team. That group was set up in 2024 to make sure the company’s goal of building AI that helps all of humanity actually meant something.

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The US is pressing AI funding, fisheries technology, and maritime surveillance at APEC meetings in southern China, positioning American systems as partners seek alternatives amid the US-China rivalry shaping the region’s technology and security agenda.

The push comes as Washington promotes exports of artificial intelligence tools and ocean-monitoring technologies to Asia-Pacific economies.

US advances AI funding through APEC

The US’ senior representative to APEC (Asia-Pacific Economic Cooperation) Casey Mace has announced that it will establish a $20 million fund to help APEC partner nations adopt American AI technologies.

This initiative fits into a larger strategy of demonstrating US leadership in new technologies prior to key diplomatic events later this year, such as the hosting of APEC leaders by China in Shenzhen, China.

The American approach was reinforced over the past year through the signing of an executive order by President Donald Trump to promote “American AI technology, create responsible standards for AI, and develop governance models for internationally adopting” American artificial intelligence technologies and how to use them.

The United States government argues that their approach is based on transparent standards and supports innovation driven by market forces.

Maritime AI issues date back as far as 2023 when the governments of Australia, the United Kingdom, and the United States joined forces to deploy advanced AI technology aimed at bolstering maritime security in the Asia Pacific region.

This collaborative effort at the time signified a significant leap forward in the development of AI-powered maritime surveillance systems.

Challenging China’s AI model

US representatives have utilized discussions to highlight their differing views compared to China. According to a spokesperson from the US Department of State, China promotes the ideas of the Chinese Communist Party (CCP) and makes use of AI technology as a tool for their censorship, as well as having an oppressive approach to AI governance.

“China’s AI technology promotes CCP propaganda and censorship, while its vision for AI governance seeks to enable authoritarian repression.” US representative.

China denies these claims and instead states that they support the cooperative efforts of the world relating to AI governance and how to properly use AI in an effective manner.

In addition, China continues to spend large amounts of money to reduce its technological difference relative to the United States, even if some restrictions prevent them from being able to close that difference in some technological fields, such as the manufacture of advanced chips.

The initiative is also targeting illegal fishing with technology. China’s fishing fleet is the largest in the Pacific and creates challenges for smaller coastal nations trying to enforce fisheries regulations.

Ruth Perry, Acting Principal Deputy Assistant Secretary of State for Oceans and International Environmental and Scientific Affairs said, “numerous countries are adversely affected, and China’s distant water fleet is the common denominator and cannot be ignored in the Pacific”.

US companies are said to be creating technologies to combat these issues through satellite tracking of fishing vessels, AI based analytical tools, acoustic detection systems, and sensor equipped ocean buoys.

Perry stated that “illegal fishing practices are often associated with human trafficking, forced labour, and smuggling,” referencing concerns about China’s new fishery laws being proposed in May 2026.

“China seems to be saying all the right things, and we will be looking for them to follow through with actions,” said Perry.

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SoftBank reported a quarterly profit of ¥248.6 billion, falling short of the expected ¥336.7 billion. Even though the number is still big, the miss raised eyebrows.

The group saw gains in some places but got dragged down in others. It wasn’t a clean win. The performance looked all over the place, despite what the headline profit might suggest.

For the nine-month period from April to December, net sales hit ¥5.72 trillion, up 7.9% from the ¥5.3 trillion posted a year ago. Income before tax jumped 228% to ¥4.17 trillion, while net income soared nearly 400%, landing at ¥3.17 trillion versus ¥636.2 billion the year before.

Gains on investments doubled from ¥2.17 trillion to ¥4.22 trillion, but the group’s investment business outside of Vision Funds collapsed, dropping 91.9% to just ¥163.4 billion. That segment alone used to bring in over ¥2 trillion.

Vision Funds returns after last year’s collapse

The SoftBank Vision Funds unit staged a massive turnaround, logging a ¥3.6 trillion gain, a major bounce from the ¥309.9 billion loss reported a year earlier.

The Vision Funds are where most of the OpenAI exposure sits. SoftBank has been piling billions into it throughout 2025, aiming to ride the AI wave.

Source: SoftBank

The group officially committed $40 billion to OpenAI in March 2025, though $30 billion of that was SoftBank’s own exposure. The money was funneled through SVF2, its second Vision Fund. In April 2025, the first $10 billion round closed, with $7.5 billion of it from SVF2.

Then, by December, a second $31 billion round wrapped up, with SVF2 throwing in another $22.5 billion. Altogether, SoftBank’s total stake hit $34.6 billion, giving it about 11% ownership in OpenAI.

The first chunk went into OpenAI Global LLC, while the second landed in OpenAI Group PBC, following a recapitalization completed in October.

The pre-money valuation was $260 billion, and co-investors chipped in another $11 billion, bringing the total syndication to $41 billion. SoftBank now holds its OpenAI shares directly through SVF2.

Asset sales and new bets show where the money is going

Behind the scenes, SoftBank’s been selling off other holdings to keep the OpenAI checks flowing.

Between June and December, it dumped $12.73 billion worth of T-Mobile shares. It also sold its full Nvidia stake in October for $5.83 billion, despite Nvidia’s role in AI chips. The company has also been borrowing against its Arm stake and other holdings to stay liquid.

It hasn’t stopped spending though. In December 2025, SoftBank said it would buy DigitalBridge, a data center investment firm based in Florida, for $4 billion, including debt. A couple of months earlier, in October, it agreed to acquire ABB’s robotics division for $5.4 billion. Both moves were aimed at building more exposure to AI-linked infrastructure.

SoftBank’s CFO Yoshimitsu Goto said this week that 60% of the company’s assets are now AI or ASI-related, referencing artificial superintelligence, which founder Masayoshi Son once claimed would be “10,000 times smarter than humans.” The focus on ASI is no longer just talk. It’s clearly where the company is betting everything.

Goto was pressed multiple times on OpenAI during the company’s earnings call. When asked why SoftBank keeps doubling down on the AI firm even after some rough patches, he replied:

“We assume OpenAI will be able to lead this industry and this era, and we are quite convinced. So that’s why we are making an investment in this company.”

The company believes OpenAI is just getting started with monetizing its tech. A person close to the matter said future revenue may come from enterprise deals, hardware, and ads, even though the company isn’t profitable yet.

SoftBank shares are up 9.5% in 2026 so far, after almost doubling in 2025. Investors got another reason to buy this week after Prime Minister Takaichi Sanae’s win over the weekend.

Takaichi-san’s push for bigger spending in AI and semiconductors gave markets a jolt. Still, the big question now is whether SoftBank can keep financing its AI push without sinking its balance sheet.

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