Crypto Breaking

Kraken has expanded its institutional reach by linking its over-the-counter (OTC) desk to ICE Chat, Intercontinental Exchange’s real-time messaging platform used by banks and trading desks. Announced February 17, 2026, the arrangement makes Kraken the first cryptocurrency platform to be approved for ICE Chat, enabling quote requests and negotiations to flow directly within a system that aggregates more than 120,000 market participants. The move positions Kraken’s liquidity alongside traditional assets across a familiar workflow, signaling a broader push to incorporate digital assets into mainstream financial-market infrastructure. The OTC desk at Kraken handles large block trades in crypto spot and options, and the partnership with ICE is expected to evolve as institutions look for deeper, more integrated access to crypto liquidity.

Key takeaways

Kraken’s OTC desk is now integrated with ICE Chat, enabling institutional traders to access Kraken’s crypto liquidity directly through a widely used messaging platform.

ICE Chat connects more than 120,000 market participants, including banks, brokers, and trading desks, allowing real-time deal negotiation within established workflows.

Kraken is the first crypto platform approved to connect to ICE Chat, situating digital asset liquidity alongside traditional asset classes.

The integration is expected to expand over time, reflecting broader efforts to embed digital asset trading into traditional financial-market infrastructure.

ICE’s broader crypto initiatives include on-chain data collaborations, large-scale investments in crypto markets, and potential partnerships with wallet and payments providers, signaling a more integrated financial ecosystem.

Market context: Link the story to broader crypto conditions (liquidity, risk sentiment, regulation, ETF flows, macro, or sector trends) WITHOUT inventing facts.

Why it matters

The Kraken-ICE Chat linkage marks a notable step toward deeper institutional access to crypto liquidity. By enabling quote requests and negotiations to occur within ICE’s established messaging network, hedge funds, asset managers, and banks can integrate crypto trading into their existing workflows without resorting to separate channels or processes. The arrangement reduces friction for large crypto block trades, a key consideration for participants handling significant volumes in both spot and options markets. In practical terms, traders can coordinate, price, and settle trades within a single, familiar interface, potentially improving execution efficiency and speed while preserving governance and compliance controls.

The move also highlights ICE’s broader strategy to bring digital assets into mainstream capital-markets infrastructure. ICE operates ICE Chat, the New York Stock Exchange, and a suite of data, clearing, and technology services. Its push into crypto markets aligns with the industry-wide trend of bridging traditional finance with digital assets, leveraging established market infrastructure to widen participation and liquidity. In recent months, ICE has pursued a series of crypto-related initiatives, including a collaboration with Chainlink to pull FX and precious metals data on-chain, substantial investments in crypto-native ventures, and explorations into crypto payments capabilities. These steps underscore a broader ambition to weave crypto more deeply into the fabric of conventional trading and risk management.

The partnership comes amid a wider set of tokenization and on-ramp developments across major exchanges. Nasdaq has signaled a willingness to explore tokenized equities through regulatory channels, while the NYSE has discussed plans to operate a 24/7 trading platform for tokenized stocks and ETFs, integrating traditional post-trade settlement with blockchain-based processes. These efforts reflect a synchronous push from traditional venues toward digitized asset classes, where liquidity, transparency, and execution efficiency are often cited as critical advantages. The ecosystem is evolving rapidly, with market participants watching how these initiatives will interact with evolving regulatory standards and the pace of adoption by institutional users.

The timing of Kraken’s announcement overlaps with other notable industry moves. Earlier in the year, Kraken pledged to support a government-backed initiative to create “Trump Accounts,” a savings program for Americans under 18—an effort that reflects the broader intersection of crypto policy and retail-facing programs. This backdrop illustrates how crypto firms are navigating public policy while expanding their institutional capabilities, seeking to demonstrate value beyond consumer-focused products and toward core market infrastructure.

Why it matters (continued)

The integration could help amplify liquidity for large crypto trades by tapping into ICE’s global network, potentially reducing spreads and improving price discovery for institutional participants. It also signals to regulators and incumbents that crypto liquidity can be treated as part of the same market ecosystem that handles equities, bonds, and other traditional asset classes. For Kraken, the collaboration with ICE Chat may expand its reach among asset managers who prefer operating within standardized, risk-managed environments—furthering the normalization of digital assets within regulated financial marketplaces.

What to watch next

Expansion updates: Follow announcements about extending ICE Chat access to additional Kraken clients and other Kraken desks or counterparties.

Broader ICE crypto initiatives: Monitor developments tied to ICE’s data services, on-chain integrations, and potential partnerships in payments or custody.

Tokenization momentum: Track regulatory progress and product launches related to tokenized stocks and ETFs at Nasdaq and NYSE, which could influence liquidity and settlement paradigms.

Data and settlement enhancements: Look for updates on ICE’s Consolidated Feed and how it interoperates with on-chain data streams and DeFi-native pricing mechanisms.

Sources & verification

Kraken Integrates with ICE Chat to Expand Institutional OTC Access — Business Wire press release (official announcement of the integration).

ICE Chat and Market Participation — ICE corporate communications outlining the platform’s reach beyond traditional markets.

Chainlink and ICE Forge On-Chain Data Collaboration — Cointelegraph coverage detailing ICE’s data-on-chain initiative.

ICE Invests in Polymarket — Cointelegraph reporting on ICE’s $2 billion investment and the valuation context.

Nasdaq and NYSE tokenization efforts — Cointelegraph coverage of Nasdaq’s tokenized-stocks push and NYSE’s plans for 24/7 tokenized-trading platform.

What the announcement changes

The Kraken-ICE Chat integration represents a concrete step in the ongoing evolution of institutional crypto access. By embedding Kraken’s liquidity within ICE’s established communications platform, the move lowers barriers for large-scale crypto trading and aligns digital asset execution with the workflows many institutions already use for other asset classes. The collaboration reinforces the idea that cryptos are not merely retail instruments but elements of a broader, interconnected market infrastructure that includes data, clearing, risk management, and settlement. As the ecosystem expands, institutions may increasingly rely on a combination of on-chain data, centralized exchanges, and OTC desks to manage exposure, price risk, and execution efficiency across diverse crypto products.

What to watch next

Monitoring quarterly updates from Kraken and ICE for new client onboarding and expanded platform access.

Regulatory developments affecting crypto-asset trading infrastructure and tokenized securities, including any policy shifts impacting tokenization and cross-market liquidity.

Progress on ICE’s partnerships with data providers and on-chain data feeds, and how these integrations affect price discovery and risk management.

This article was originally published as Kraken Joins ICE Chat to Boost Institutional OTC Access on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

MicroStrategy, now known as Strategy (NASDAQ: MSTR), expanded its Bitcoin holdings last week amid continued market challenges. The company purchased 2,486 Bitcoin, bringing its holdings to over 717,000 coins. This purchase, valued at nearly $50 billion, reflects Strategy’s unwavering commitment to Bitcoin, despite bearish market conditions.

Last week, Strategy bought 2,486 Bitcoin, spending $168 million. With this latest acquisition, its Bitcoin stash now exceeds 717,000 coins. This purchase came as the company continued using its stock sales to fund the Bitcoin buys, causing shareholder dilution.

Strategy has acquired 2,486 BTC for ~$168.4 million at ~$67,710 per bitcoin. As of 2/16/2026, we hodl 717,131 $BTC acquired for ~$54.52 billion at ~$76,027 per bitcoin. $MSTR $STRC https://t.co/wvxRYZlQ3Y

— Michael Saylor (@saylor) February 17, 2026

The company has sold over $7.8 billion in shares and is set to sell more. In addition to the stock sales, Strategy holds over $20 billion in preferred STRK. The number of outstanding shares now surpasses 312 million, a significant rise from previous years. As the company’s Bitcoin strategy endures, Michael Saylor, the firm’s former CEO, pledged to keep purchasing Bitcoin indefinitely. He also mentioned plans to swap company debt for additional shares in the future.

Technical Indicators Point to Bitcoin’s Potential Decline

Bitcoin’s price continues to struggle, showing a bearish pattern in the charts. Analysts are concerned that Bitcoin may drop further before any potential rebound. The technical setup suggests a bearish pennant pattern, signaling a price drop.

Bitcoin’s price is moving toward a potential crash, with projections hinting at a fall to $60,000. The bearish pattern emerges from a confluence of a vertical line and a symmetrical triangle. If Bitcoin fails to rise above the $80,000 resistance, the negative outlook will remain intact.

In the past, Bitcoin’s behavior has shown vulnerability to market sentiment shifts. Standard Chartered recently adjusted its Bitcoin price forecast, lowering it from $150,000 to $100,000. The bearish sentiment comes as Bitcoin struggles to break above critical resistance levels, keeping the coin under pressure.

Geopolitical Risks Amplify Bitcoin’s Struggles

Bitcoin faces additional pressure from geopolitical concerns, which weigh heavily on its performance. Tensions in the Middle East, including rising conflict risks between the U.S. and Iran, could impact Bitcoin’s price. Despite negotiations between the U.S. and Iran, ongoing military movements create uncertainties for the market.

The ongoing geopolitical uncertainty has contributed to Bitcoin’s volatility, as the coin fails to establish itself as a safe-haven asset. Bitcoin’s price has been closely linked to broader market sentiment, especially during times of conflict. This ongoing instability is likely to exacerbate the challenges faced by Bitcoin in the short term.

As the Middle East crisis develops, it is unclear how Bitcoin will respond. While some might view it as a hedge against traditional markets, Bitcoin has proven to be vulnerable to large-scale geopolitical events. With global events continuing to influence cryptocurrency prices, Bitcoin’s future remains uncertain.

This article was originally published as MicroStrategy Expands Bitcoin Holdings to $50 Billion Despite Market Woes on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Key Insights:

Binance whale inflow ratio surged, showing growing dominance of large BTC transactions.

Bitcoin’s 22% YTD decline has pushed sentiment into extreme fear territory.

Falling stablecoin liquidity makes whale moves more influential on price action.

Market Weakness Deepens Across Crypto

The larger crypto market is still under intense pressure with Binance registering a massive increase in whale activity. Bitcoin is trading around $68,000, dropping over 22% in the year, the lowest first-quarter performance since 2018.

The month of January ended with a sharp loss of 10% and February has been unable to provide relief yet. This decline is reflected in investor sentiment, where the Crypto Fear & Greed Index is solidly in the extreme fear zone. The range of $60,000 to $65,000 has been cited by analysts as one of the key support zones that might dictate the direction in the near future.

Whale Inflows on Binance Spike Suddenly

Despite bearish price action, on-chain data points to a notable shift in large-holder behavior. According to CryptoQuant, Binance’s whale inflow ratio jumped from 0.40 to 0.62 between February 2 and February 15, indicating that a large portion of exchange inflows is currently taken over by large holders.

A single large holder, known as the Hyperunit whale, allegedly transferred close to 10,000 BTC to Binance as the volatility increased. A number of other high-value transfers occurred in their turn, indicating that institutional-scale players are actively repositioning as prices get weaker.

Whale Inflow ratio surges on Binance amid market correction.

This correction is testing all types of investors, from retail participants to whales and even institutions.

According to the whale inflow ratio, we are seeing a clear surge in whale activity on Binance,… pic.twitter.com/TVJiUAWy1O

— Darkfost (@Darkfost_Coc) February 17, 2026

In the past, increasing numbers of whales may cause sell-side pressure. They can, however, reflect tactical actions in times when deep liquidity on the major exchanges becomes crucial.

Liquidity Tightens as Capital Pulls Back

Binance has seen declining stablecoin liquidity. The exchange has registered three consecutive months of negative netflows of stablecoins, with almost $3 billion leaving the platform this month. Since November, the total stablecoin reserves have been decreasing by nearly $9 billion.

This tightening of liquidity increases the effect of the whale movement since big transfers can more readily influence the short-term price action.

Selling Pressure or Strategic Accumulation?

The statistics provide a varied picture. The low liquidity and risk-off flows suggest caution, but the rise in whale activity implies that the large players are finding opportunities at these levels. It remains unclear whether this signals distribution, hedging, or silent accumulation.

This article was originally published as Binance Whale Inflows Surge as Bitcoin Tests Critical Support on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Nakamoto, the Bitcoin (CRYPTO: BTC) treasury company formerly known as KindlyMD, has signed definitive agreements to acquire BTC Inc and UTXO Management GP, advancing its plan to build a Bitcoin-native operating company. The move consolidates media, events and capital allocation under a single public vehicle as the company pivots away from its prior healthcare focus. The arrangement underscores a broader push to formalize Bitcoin-centric businesses within a listed framework, linking media properties, advisory services and asset management under one umbrella.

Key takeaways

The all-stock deal values the acquisition at roughly $107.3 million, calculated from a fixed $1.12 per share under Nakamoto’s call-option framework combined with Friday’s close around $0.2951.

BTC Inc and UTXO Management GP shareholders will receive 363,589,816 shares of Nakamoto common stock on a fully diluted basis, diluting existing holders given the price disparity with the current trading level.

The transaction leverages a Marketing Services Agreement that granted Nakamoto a right to acquire BTC Inc, which itself owned a call option to acquire UTXO, tying three entities together through a stock-based consideration.

Nakamoto’s balance sheet currently includes 5,398 BTC, a figure that places it ahead of several other public Bitcoin treasury holders and aligns with its expanded treasury strategy long in the works.

The deal follows a broader Bitcoin treasury pivot, built on the idea that media, advisory and asset-management services can be bundled under a public company dedicated to Bitcoin, even as the broader market faces volatility and downcycles.

Tickers mentioned: $BTC, $NAKA

Sentiment: Neutral

Price impact: Negative. The stock traded lower after the announcement as dilution concerns weighed on investors.

Market context: The deal arrives amid a testing phase for corporate treasury strategies in crypto markets. Bitcoin’s price has experienced a steep swing in recent quarters, with the asset retreating from previous peaks and testing investor appetite for Bitcoin-focused corporate moves. The broader market environment has underscored the tension between ambitious, asset-backed business plans and the need for actionable, near-term value delivery to shareholders.

Why it matters

The proposed acquisition acts as a strategic centripetal force for Nakamoto’s ambitions to create a Bitcoin-native operating ecosystem. By bringing BTC Inc, known for Bitcoin Magazine and The Bitcoin Conference, together with UTXO Management GP, which provides advisory services and connections to Bitcoin-focused capital, Nakamoto aims to streamline the decision-making and capital allocation process around Bitcoin. This consolidation could shorten the path from media coverage and thought leadership to real-world investment and capital deployment in the Bitcoin space.

From a portfolio perspective, Nakamoto’s 5,398 BTC on its balance sheet places the company among the more substantial publicly disclosed Bitcoin treasuries. The tally is frequently cited by market trackers such as BitcoinTreasuries.NET, which catalogs corporate bitcoin holdings and related disclosures. The combination of media influence, conference branding and asset-management capabilities under one roof positions Nakamoto to influence both public perception and practical investment flows around Bitcoin. The move follows a broader industry pattern where companies seek to align communications, investor relations and treasury management under a single corporate entity to maximize efficiency and visibility.

The background of the deal is also noteworthy: Nakamoto rebranded from KindlyMD after facing headwinds in its healthcare business, including a subpar share price performance that spurred a strategic repositioning toward Bitcoin. This pivot — from healthcare services to a Bitcoin-focused treasury and media strategy — illustrates how public markets reward clear alignment between asset exposure and governance, as well as a coherent long-term plan for capital allocation in an asset class that remains highly cyclical and sensitive to macro shifts.

In the context of the crypto downturn, where Bitcoin’s price has declined from peaks observed during the previous cycle, investors are closely watching how treasury-centric models can sustain growth and deliver cash flow in a public market setting. As Cointelegraph and other outlets have reported, treasury adoption and the formation of Bitcoin-focused public vehicles have faced pressure during periods of downturn, making the current deal a critical test case for the viability of a diversified, Bitcoin-centric public platform.

Related coverage has highlighted the interplay between Bitcoin media, events and investment vehicles as a potential accelerator for mainstream adoption, even as the sector contends with volatility and evolving regulatory scrutiny. The current transaction, with its all-stock consideration and fixed-price framework, emphasizes a willingness to prize strategic alignment and long-term value creation over near-term share-price parity.

What to watch next

Regulatory approvals and closing conditions for the acquisition of BTC Inc and UTXO Management GP, including any required shareholder votes.

Completion of the stock issuance: timing, share registrations and any subsequent adjustments to the fully diluted share count.

Performance of BTC Inc and UTXO assets under Nakamoto’s ownership, especially how BTC Inc’s media assets (Bitcoin Magazine) and conference operations scale within the public vehicle.

Monitoring Nakamoto’s treasury strategy as new corporate cash flows emerge from the consolidated platform and whether additional acquisitions or partnerships follow.

Sources & verification

Nakamoto Holdings announces definitive agreements to acquire BTC Inc and UTXO Management GP, with details of the all-stock consideration and call-option framework.

The Marketing Services Agreement (MSA) underlying the call option and acquisition structure, including the right to acquire BTC Inc and its implications for the deal’s valuation.

Nakamoto’s disclosed Bitcoin holdings (5,398 BTC) and the company’s public market status on Nasdaq under NAKA, as reflected in industry trackers and the company’s filings.

Bitcoin Inc’s role as the parent entity for Bitcoin Magazine and organizer of The Bitcoin Conference, and UTXO’s advisory relationship with 210k Capital.

BitcoinTreasuries.NET and publicly accessible market data pages showing Nakamoto’s position relative to other public Bitcoin treasury holders and the company’s market capitalization trends.

Key figures and next steps

Nakamoto broadens Bitcoin treasury play with all-stock acquisitions

Nakamoto’s latest pivot marks a concerted effort to transform a niche treasury strategy into a scalable, publicly traded platform. By acquiring BTC Inc, which operates Bitcoin Magazine and The Bitcoin Conference, and UTXO Management GP, which provides Bitcoin-focused advisory services, the company is positioning itself as a one-stop shop for Bitcoin media, events, strategy and asset management. The stock-based consideration, fixed at $1.12 per share, is substantial relative to the current trading price, underscoring a willingness to accept significant dilution to accelerate the consolidation of these assets under a single corporate umbrella. The resulting combined entity would have a diversified revenue stream spanning media properties, event-driven revenue and Bitcoin advisory and asset services, all tethered to the performance of the Bitcoin ecosystem itself. The size of the consideration — 363,589,816 shares on a fully diluted basis — reflects both the ambition of the deal and the complexity inherent in cross-entity stock swaps tied to a volatile asset class.

From a governance perspective, the transaction hinges on a stock-for-assets approach that aligns incentives with Nakamoto’s long-term growth strategy. The fact that Nakamoto’s stock trades on Nasdaq under NAKA, with a market capitalization around a few hundred million dollars, adds pressure to deliver tangible upside for investors beyond mere consolidation. The market’s initial reaction appeared negative, as indicated by a post-announcement decline in Nakamoto’s share price, a typical response when large pools of new shares enter the float. Yet the strategic logic remains: a public vehicle that can coordinate Bitcoin media reach, capital-formation activities and wallet-level treasury strategies may unlock synergies that are not as easily realized through standalone entities.

Historically, Nakamoto’s Bitcoin holdings have been a cornerstone of its narrative. With 5,398 BTC on its balance sheet, the company sits ahead of several peers in the public-treasury space, positioning it as a reference point for others evaluating whether to scale similar approaches. The integration of BTC Inc’s media empire and UTXO’s advisory reach could deepen liquidity for Bitcoin-focused assets and accelerate capital allocation to Bitcoin-related ventures, potentially smoothing the path for new fundraising or strategic partnerships.

As this process unfolds, observers will watch how the combined entity manages governance, treasury allocation, and the delivery of near-term earnings or cash flows that can validate the business model. The deal’s all-stock structure implies a forecast of growth fueled by equity rather than immediate cash, a choice that emphasizes confidence in long-run value creation but also invites closer scrutiny of dilution effects and ongoing capital discipline.

In summary, the acquisition represents a deliberate bet on the breadth of the Bitcoin ecosystem — media influence, conference-driven engagement, and advisory and asset-management services — converging in a single public platform. If executed thoughtfully, the new entity could become a template for how Bitcoin-centric businesses scale within public markets while maintaining alignment with the asset’s core network and community dynamics. The coming quarters will reveal whether the expected synergies translate into sustained shareholder value as Bitcoin’s market cycles continue to shape corporate strategy in this evolving sector.

This article was originally published as Nakamoto Eyes $107M All-Stock Buy: BTC Inc, UTXO on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

SOU NFTs as Proof of Claims

The SOU system offers affected users an on-chain, non-fungible token (NFT) that tracks the value owed to them. Each SOU represents an individual claim, recorded securely on the Ethereum blockchain. Users can see their principal amount, which decreases as payouts and donations are processed. The transparency of this system ensures that the value cannot be manipulated, providing a fair method for managing claims.

SOU is live

Introducing SOU (Shib Owes You) an onchain NFT built as a good-faith effort to support impacted users with payouts, donations, and occasional rewards.

Transparent. Tradable. On-chain.
You can transfer it, split it, merge it, or trade it on marketplaces.

Claim your… pic.twitter.com/ONyO8OitJQ

— Shib (@Shibtoken) February 16, 2026

This initiative aims to restore trust and compensate those who experienced setbacks during Shibarium’s challenges. Shiba Inu’s developer, Kaal Dhairya, emphasized the importance of this effort, stating that it would help make things right for impacted users. The project’s transparent tracking feature ensures that users have clear visibility of their claims.

Security and Audits Behind the SOU Mechanism

The Shiba Inu team worked with Hexens, an independent auditing firm, to thoroughly review the SOU system. Hexens focused on ensuring the security of the NFT contracts and their integration within the broader Shiba Inu ecosystem. The audit included assessing key components, such as asset recovery, repayment flows, NFT mechanics, and access controls.

According to Hexens, the security review confirmed that the system is safe for managing funds and transactions. This review further guarantees that the SOU system adheres to high security standards, reducing the risk of any breaches. With a clear focus on safety and reliability, the Shiba Inu team has ensured that the SOU NFT mechanism is designed to protect user funds and claims.

Community Support and Positive Reactions

The Shiba Inu community has responded positively to the launch of the SOU system. Shytoshi Kusama, the Shiba Inu lead ambassador, praised the team for their effort and commitment to addressing the issue. Kusama highlighted the significance of getting this system up and running as a critical step in supporting impacted users.

The announcement has sparked discussions among community members who appreciate the transparency and efficiency of the solution. Many users expressed their confidence in the SOU mechanism as a solid foundation for restoring Shibarium’s reputation. By taking this proactive approach, Shiba Inu aims to solidify its reputation and ensure its community feels supported and valued.

Shiba Inu’s Position in the Market

Amid the SOU announcement, the broader crypto market saw some fluctuations. Shiba Inu (SHIB) experienced a minor dip of 2.36% in the past 24 hours, with its price sitting at $0.000006431. Despite the market downturn, SHIB managed to record a weekly increase of 7%, indicating some resilience.

Shiba Inu’s commitment to improving Shibarium’s infrastructure and restoring trust has been crucial in navigating the current market challenges. As the crypto community continues to react, SHIB’s price remains closely tied to the ongoing recovery efforts within the ecosystem. This marks a critical moment for Shiba Inu as it works to rebuild momentum and prove its dedication to long-term growth.

This article was originally published as Shiba Inu Launches ‘Shib Owes You’ NFT to Compensate Shibarium Users on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Ripple CEO Brad Garlinghouse has expressed confidence that the CLARITY Act, a landmark piece of legislation for the crypto industry, is likely to pass by the end of April.

Ripple CEO Brad Garlinghouse remains optimistic about the Clarity Act, giving it an 80% chance of being signed by the end of April.

While XRP has its legal clarity, the rest of the industry is still waiting. Progress over perfection is the goal. pic.twitter.com/7DqQezE3U2

— 𝗕𝗮𝗻𝗸XRP (@BankXRP) February 16, 2026

According to Garlinghouse, there is now an 80% chance of the bill being approved, especially after continued negotiations between banks and crypto firms. The CEO has urged the industry to embrace compromise, suggesting that waiting for a perfect bill could stall progress.

In recent weeks, discussions surrounding the CLARITY Act have seen significant developments, especially following a long-standing deadlock in the Senate Banking Committee. This delay occurred just before the bill was initially expected to pass. Ripple’s Chief Legal Officer, Stuart Alderoty, also remains optimistic, noting that talks between banks and crypto firms have made significant strides.

The potential passage of the CLARITY Act would offer much-needed regulatory clarity for the crypto space, which has long struggled with uncertain legislation. This clarity, according to Garlinghouse, would be a step toward stabilizing the market, benefiting both crypto firms and investors. However, despite its positive potential, the bill still faces challenges that could delay its passage further.

Crypto Bill Stalemate and Progress in Negotiations

The road to the CLARITY Act’s passage has not been smooth. Earlier this year, Coinbase, one of the largest cryptocurrency exchanges in the United States, pulled its support for the legislation. The company cited its inability to reach a compromise on the issue of stablecoin yield. This setback delayed momentum in the Senate Banking Committee, creating further uncertainty for the bill’s future.

While there is some frustration over the stalled negotiations, there is still hope that a breakthrough is imminent. The White House has set a February deadline for crypto and banking leaders to agree on stablecoin yield provisions within the bill. This deadline aligns with Garlinghouse’s predictions, as he has consistently emphasized that compromise rather than perfection is necessary to move the legislation forward.

As talks continue this week, stakeholders in the crypto sector remain hopeful that the final version of the bill will be sufficiently beneficial to all parties involved. The current focus is on balancing regulatory clarity with the needs of both traditional banks and the emerging crypto economy. A resolution could bring much-needed stability and restore confidence in the market, especially as the crypto industry struggles through a bearish phase.

White House Involvement and Potential Market Impact

The involvement of the White House in the negotiation process highlights the importance of the CLARITY Act to the future of the crypto industry. A key upcoming meeting later this week could serve as a turning point in the discussions. With the backing of influential parties, such as the White House and major financial institutions, the chances of the bill’s successful passage by April appear to be increasing.

Market speculation suggests that the CLARITY Act’s passage could lead to significant liquidity returning to the crypto space. If the bill succeeds, many analysts believe it could reinvigorate the market, which has been experiencing a downturn for some time. Increased stability from clearer regulations may prompt a resurgence of interest in crypto assets, driving investment and innovation within the sector.

Despite the uncertainty, many in the industry are holding out hope that the passage of the CLARITY Act will bring much-needed regulatory certainty. This could pave the way for future growth and opportunities in the crypto market. With discussions heating up and potential progress on the horizon, the crypto community will be watching closely as April approaches.

This article was originally published as Ripple CEO Expects CLARITY Act to Pass by April, Boosting Crypto Clarity on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

StarkWare’s Starknet is expanding its privacy capabilities by integrating EY’s Nightfall protocol, enabling institutions to run private payments and DeFi activity on public Ethereum-aligned rails, with confidentiality preserved alongside auditability. In a Tuesday release, StarkWare positioned the move as a bridge for enterprises to use a shared, open layer-2 instead of siloed, bank-only networks, while partnering with a Big Four firm that already audits many prospective onboarding clients. Nightfall—EY’s open-source zero-knowledge privacy layer—lets transactions be verified without exposing underlying data, unlocking private B2B and cross-border payments, confidential treasury management, and on-chain transfers of tokenized assets around the clock. The rollout appears staged, focusing on privacy-forward onboarding with selective disclosure for regulators and auditors.

Key takeaways

StarkWare is integrating EY Nightfall into Starknet to support private transactions on an Ethereum-compatible chain, enabling private payments and DeFi activity at scale.

The plan emphasizes an open, layer-2 solution rather than siloed, bank-only networks, with a Big Four auditor involved in onboarding.

Nightfall’s zero-knowledge privacy layer lets verifications occur without revealing private data, while still allowing selective disclosure for compliance and audits.

The rollout will be staged, starting with compliant private payments and transfers and expanding to additional features as the system scales.

Starknet has grown to be a major ZK rollup by TVL, but has faced outages in 2025 that prompted post-mortems and reliability enhancements ahead of broader institutional flows.

Tickers mentioned: $ETH, $ZEC

Market context: The initiative signals a growing emphasis on privacy-preserving rails and interoperable, on-chain workflows for institutions within the expanding Layer-2 ecosystem, as DeFi and cross-border token transfers push for compliance-ready, scalable solutions.

Why it matters

The blending of Nightfall with Starknet is more than a technical upgrade; it represents a strategic attempt to unlock institutional participation in public blockchains without forcing a trade-off between privacy and auditability. By anchoring the privacy layer to a public, open network, StarkWare aims to encourage banks and corporates to explore private payments, treasury management, and cross-border settlement on-chain, while maintaining visibility for regulatory and internal controls. The approach could lower the barriers for traditional financial players who have historically shied away from fully transparent on-chain activity, offering a path to leverage distributed ledger technology within established compliance frameworks.

Eli Ben-Sasson, StarkWare’s co-founder and CEO and a founding scientist of privacy-focused cryptocurrency Zcash (ZEC), described the Nightfall-on-Starknet initiative as paving the way for “the equivalent of a private superhighway for stablecoins and tokenized deposits.” The framing underscores a broader privacy push across Starknet, where institutions could gain confidential access to Ethereum DeFi activities—such as lending, swaps, and yield strategies—without sacrificing auditable records. Alex Gruell, StarkWare’s global head of business development, emphasized that Nightfall’s readiness for KYC-verified onboarding could be a critical differentiator for large organizations entering the blockchain space, aligning privacy with regulatory compliance at scale.[Zcash (CRYPTO: ZEC) is referenced here to reflect Ben-Sasson’s broader background and the privacy ethos behind the technology.]

Gruell also argued that Nightfall, when paired with Starknet, functions as an interoperability layer that could bridge otherwise siloed institutional environments. He contrasted this architecture with permissioned, stand-alone networks such as Canton Network, which he argued are not yet integrated with the Web3 ecosystem. The planned rollout remains permissionless and fully integrated into Starknet, with a staged deployment that starts with private payments and transfers guarded by compliance gates and secure sequencing. Verifier upgrades and expanded functionality will follow as the system scales, aiming to preserve privacy by default while enabling selective disclosure for audits and regulatory checks.

Starknet’s growth and teething trouble

Starknet has established itself as one of the larger ZK rollups by total value locked (TVL), with current estimates hovering around $280 million, driven largely by DeFi protocols and native ecosystem apps. This rapid ascent has not come without challenges. In 2025, Starknet experienced outages tied to sequencer and infrastructure weaknesses, prompting public post-mortems and commitments to harden reliability before courting broader institutional flow. The ongoing efforts to improve resilience are central to appealing to banks and corporates that require robust operational continuity alongside privacy guarantees.

As Starknet matures, proponents argue that a privacy-first path—especially when supported by a reputable auditor—could unlock new capital channels on public rails. The integration with Nightfall is positioned as a concrete step toward that vision, offering institutions a controlled yet verifiable on-chain environment. Yet observers will be watching how the privacy layer handles cross-border compliance challenges, including KYC/AML workflows and data-access requirements, as real-world usage scales beyond pilots and proof-of-concept tests.

What to watch next

Timeline and milestones for the staged rollout, including the initial private-payments phase and planned expansions of on-chain features.

Auditing milestones and regulatory reviews tied to the Nightfall integration, especially around KYC verification workflows.

Verifier upgrades and any announced improvements to sequencing, privacy guarantees, and throughput as adoption grows.

Real-world usage metrics from early institutional deployments and any interoperability benchmarks with other networks.

Sources & verification

StarkWare’s announcement detailing the Nightfall integration with Starknet for private payments and DeFi on public rails.

EY’s Nightfall privacy protocol, describing zero-knowledge privacy for on-chain transactions.

Cointelegraph coverage of the Nightfall integration and related commentary from StarkWare and EY.

DefiLlama data showing Starknet’s TVL around $280 million and its DeFi usage drivers.

Starknet outage post-mortems and reliability commitments published in 2025.

What the story means for users and builders

The integration positions privacy-preserving on-chain activity as a standard feature for institutional users within public blockchain networks. For builders, it creates an opportunity to design DeFi products and treasury solutions that satisfy typical enterprise compliance requirements without sacrificing the openness and composability that characterize open ecosystems. For users and investors, the development signals ongoing maturation of Layer-2 privacy capabilities and a potential shift in how incumbent financial institutions interact with blockchain technologies—moving from isolated pilots to scalable, auditable, and privacy-respecting deployments on public rails.

Key figures and next steps

With Nightfall in tow, Starknet’s roadmap includes extended privacy controls, selective disclosure options for audits, and broader cross-border transaction support. The collaboration’s success will hinge on robust reliability improvements, effective onboarding workflows, and the ability to demonstrate real-world compliance without eroding the user experience. If these elements come together, institutions could begin treating public blockchains as viable platforms for confidential settlement and asset management, painting a more nuanced picture of privacy, scalability, and openness in decentralized finance.

Why it matters for the broader market

Privacy-preserving instrumentation on public blockchains aligns with a broader industry trend toward compliant, enterprise-grade blockchain ecosystems. As institutions weigh the benefits of public networks against privacy and regulatory requirements, solutions like Nightfall could help reconcile these tensions by offering auditable privacy with flexible disclosure. The broader market will be watching how this approach affects competition among Layer-2 providers, the pace of DeFi institutionalization, and the evolution of cross-chain interoperability as the ecosystem grows more interconnected.

This article was originally published as StarkNet Adds EY Nightfall to Enable Private Payments on Eth Rails on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Editor’s note: In a sector defined by rapid changes in energy costs and compute demand, HIVE Digital Technologies reports a standout quarter that highlights the resilience of its dual-engine model — steady Bitcoin hashrate expansion alongside high-growth BUZZ AI HPC. The Q3 results, led by record revenue of $93.1 million and a gross margin of $32.1 million, reflect disciplined scaling across renewable-powered infrastructure and an accelerating AI compute strategy. The company’s Paraguay expansion and GPU cloud initiatives illustrate how HIVE is positioning for longer-term margin expansion, recurring revenue and geographic diversification.

Key points

Record quarterly revenue of $93.1 million, up 219% YoY and 7% QoQ, with gross margin of $32.1 million (34.5%).

Bitcoin hashrate capacity reached 25 EH/s, with BUZZ HPC growth accelerating.

AI GPU expansion: 504 Nvidia GPUs under a $30 million contract, live deployments in Q1 2026, lifting HPC revenue and targeting $140 million ARR by Q4 2026 with 11,000 GPUs.

Paraguay expansion and renewable-powered infrastructure underpin margin growth and geographic diversification.

Why this matters

This quarter demonstrates HIVE’s ability to scale a renewable-powered data center platform while expanding into AI compute markets. The dual-engine approach provides resilience against sector volatility, leveraging Bitcoin hashrate expansion as a cash generator and BUZZ HPC as a high-growth, recurring revenue stream. With Paraguay infrastructure, green energy and new AI deployments, HIVE is positioned for margin expansion and geographic diversification into Latin America.

What to watch next

Deployments of 504 Nvidia GPUs live in Q1 2026 and expected ARR uplift to $140 million by Q4 2026 as GPU AI Cloud evolves.

Paraguay expansion: energization of the additional 100 MW at Yguazú targeted for Q3 2026 and 63 hectares of land acquisition supporting growth.

Anticipated overall energy footprint of 540 MW by year-end, with evaluation of incremental megawatts for future EH/s growth.

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

HIVE Delivers Record Q3 Revenue of $93.1 Million with $32.1 Million Gross Operating Margin, Up Over 6x Year-Over-Year

This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated November 25, 2025 to its short form base shelf prospectus dated October 31, 2025.

San Antonio, TX, February 17, 2026 — HIVE Digital Technologies Ltd. (TSX.V: HIVE) (Nasdaq: HIVE) (FSE: YO0) (BVC: HIVECO) (referred to as the “Company” or “HIVE”), a global leader in sustainable data center infrastructure, announced its results for the third quarter ended December 31, 2025 (all amounts in US dollars, unless otherwise indicated).

HIVE delivered record quarterly revenue of $93.1 million, representing 219% year-over-year growth and 7% quarter over quarter growth, and Adjusted EBITDA of $5.7 million. Gross operating margin expanded significantly to $32.1 million (34.5%), up more than sixfold compared to $5.3 million in the prior year period.

This quarter marks the strongest “dual-engine” growth in HIVE’s history, driven by the rapid scale-out of its Bitcoin hashrate fleet to an installed base of 25 Exahash per Second (EH/s) by period end December 31, 2025 and accelerating demand for BUZZ HPC platforms.

Q3 FY2026 Financial Highlights:

• Total Revenue: $93.1 million, a 219% increase from $29.2 million in Q3 FY2025 and a 7% increase over last quarter. Gross operating margin was $32.1 million or 34.5%, up from 18% in fiscal Q3 FY2025. See the calculation of direct costs and mining margin included below in this press release.

• Digital Currency Hashrate Revenue: $88.2 million, up 8% from Q2 FY2026, reflecting a 41% quarter-over-quarter increase in average hashrate to 22.9 EH/s, partially offset by approximately 10% lower Bitcoin prices and 15% higher network difficulty. This hashrate revenue was achieved at a direct cost of $57.8 million, of which approximately 90% is energy costs. See the calculation of direct costs included below in this press release.

• Bitcoin Output: Generated 885 Bitcoin, representing a 23% quarter over quarter increase, despite a 15% rise in network difficulty.

• HPC Revenue: BUZZ HPC revenue was $4.9 million during the quarter. This revenue was achieved against direct costs of $2.3 million.

• G&A: $8.4 million, up from $7.8 million in Q2 2026, primarily as a result of increased staff to support HIVE’s global expansion, including Paraguay, and the BUZZ HPC business. Notably, while gross operating margin increased more than 6x year-over-year, corporate G&A grew only 1.8x over the same period, demonstrating operating leverage and disciplined scaling.

• Net Loss: GAAP net loss of $91.3 million was primarily driven by $57.4 million in accelerated depreciation related to the Paraguay expansion and non-cash revaluation adjustments. The loss reflects HIVE’s decision to depreciate the next-generation ASIC fleet over a two-year cycle, rather than the typical four-year schedule, to reflect the faster pace of efficiency improvements and shorter economic lives of new ASICs—a conservative approach aligned with our strong growth in Paraguay and focus on operating income.

• Adjusted EBITDA: $5.7 million.

OPERATING PERFORMANCE: SCALE WITH DISCIPLINE

Infrastructure Expansion

• Completed Paraguay Buildout and Achieved 25 EH/s: Operating 440 megawatts (MW) of global, hydro-powered capacity with 25 EH/s installed and 22.9 EH/s average operational hashrate, while reaching 17.5 Joules per Terahash (J/TH) fleet efficiency; record completion of 300 MW of green-energy Tier-I infrastructure brought online in 6 months (from May 2025 to November 2025).

• Land & Power: The company signed an additional 100 MW PPA in Yguazú and bought 10 hectares of land, with energization targeted for Q4 2026. This maintains our growth in Paraguay by an additional 10 EH/s. Subsequent to the quarter end, the Company has purchased an additional 63 hectares of land.

Positioning for AI and HPC Growth

Future Capacity & Growth Outlook

• Accelerating AI Revenue: In February 2026, the Company signed a 2-year, $30 million contract for 504 Nvidia B200 GPUs. Expected deployments to be live in calendar Q1 2026 at Bell’s Tier-III facility; adds ~1$15 million of ARR and lifts HPC annualized revenue ~75% (from $20 million to $35 million). Targeting $140 million ARR by Q4 2026 for GPU AI Cloud with 11,000 GPUs, subject to market conditions and successful infrastructure deployment.

• BUZZ’s Growth Plan: Targeting $225 million ARR for total HPC revenue for BUZZ HPC and GPU AI Cloud by end of calendar 2026 or early 2027 as GPU cloud and colocation capacity expands.

• Strengthened Runway for Scalable Compute: By year-end, HIVE expects to operate a 540 MW energy footprint (440 MW currently operating, plus the additional 100 MW PPA contracted). Existing and incremental megawatts will be evaluated to preserve flexibility for highest-value deployments – toward expanding EH/s or supporting future AI and high-performance computing workloads.

Management Insights

Frank Holmes, HIVE’s Executive Chairman, stated, “This quarter marked an inflection point for HIVE. We delivered record revenue, scaled our renewable-powered Tier-I hashrate platform to 25 EH/s and accelerated our AI strategy. These milestones reflect disciplined execution across both engines of our business – Bitcoin hashrate services as the cash generator and BUZZ as our high-growth HPC platform, positioning HIVE for diversified, recurring revenue growth. Demand for AI compute continues to rise, and HIVE is leveraging its long track record in high-performance compute infrastructure and deep technical expertise in AI cloud services and data center operations to capture that opportunity. Notably, we are also positioning Paraguay to be a leader in HPC for Latin America. With abundant and stable green energy, and a government that is strongly-aligned with the United States, we believe Tier-III data centers are the future in Paraguay. Our future deployments in Paraguay will have the architecture and infrastructure footprint for Tier III future deployments as we build out our powered land. Our team has ordered the substation for the additional 100 MW at Yguazú, which we expect to come online in calendar Q3 2026. Moreover, the Company has a strategic alignment with Paraguay’s largest Tier III telecom datacenter operator, where we are sending a cluster of high-performance GPUs which will operate on the BUZZ AI Cloud out of Asuncion. Thus, by laying the foundation for long-term and rapid scale HPC Tier III Data Center deployment with our next 100 MW in Yguazú, and curating HIVE’s first Latin America GPU AI cloud proof-of-concept this quarter from Asuncion, our vision is to be a first mover in Latin America, powering the AI industrial revolution with renewable energy from Paraguay. HIVE will be a key economic driver for Paraguay, as we anticipate materially contributing to the GDP growth of the country through our data center construction expenditures and stable and long-term consumption of power from the Itaipu Dam, which will strengthen Paraguay’s domestic energy market and drive revenue for ANDE and the government. President Santiago Pena has demonstrated great leadership, along with Marcos Riquelme and Ruben Ramirez Lezcano, which gives us the confidence to advance our investments into Paraguay.”

Mr, Holmes continued, “Our wholly owned subsidiary, BUZZ AI has begun to demonstrate the scale of its earnings power. With this growth, our early-stage Paraguay platform becomes even more strategic, as we partner with a leading Tier III telecom data center operator in the country and deploy our first cluster of high-performance GPUs into that facility, demonstrating that our GPU chips have arrived and that Paraguay can be a cornerstone market for BUZZ in Latin America. Tier I data centers are a critical first step in building the power and infrastructure backbone required for future Tier III AI and HPC data centers, and we see them as the key runway for grid buildout and long-term capacity planning across our global platform. This is the strategy we are executing in Canada and Sweden today, and now in Paraguay as we develop large-scale, renewable powered Tier I capacity that can be systematically upgraded into Tier III AI and HPC data centers over time.”

Aydin Kilic, President & CEO, stated, “This quarter demonstrated HIVE’s execution in both our Tier-I hashrate platform and GPU AI Cloud. Our business has scaled substantially over the last year. Notably, our gross operating margin has increased over 6x YoY, from $5.3 million period end December 31, 2024 to $32.1 million this current period end December 31, 2025. At HIVE, we pursue accretive growth with a high-performance work culture, and this exponential growth in gross operating margin relative to corporate G&A reflects our expertise to scale with our Tier-I hashrate platform. Furthermore, this growth in corporate G&A includes added key personnel and talent to our BUZZ HPC and GPU AI Cloud business. In this fiscal quarter, we announced the purchase of 504 next-generation AI-optimized GPUs, and last week, ahead of their installation in March 2026 in the BUZZ Canada West facility, we announced the entire cluster was leased on a two-year fixed term contract valued at $30 million. As we expand BUZZ, we are leveraging our proven infrastructure operating model and deep technical expertise in AI to deliver GPU cloud and colocation capacity quickly and reliably for enterprise customers. With Tier-III+ capacity across Canada, Sweden and a growing pipeline of multi-year GPU cloud and colocation demand, we believe HIVE is positioned to build a durable, high-margin, recurring revenue platform through 2026 and beyond. This dual-engine strategy provides continued growth and sustained cashflow as we navigate the recent volatility in Bitcoin hashrate revenues.”

Darcy Daubaras, HIVE’s CFO, stated, “This quarter demonstrates strong revenue growth and operating margin expansion despite a more competitive hashrate environment. Accelerated depreciation impacted net income, but reflects conservative accounting and disciplined balance sheet management. We believe our cost structure and renewable power strategy position us to generate attractive operating margins as competition increases.”

Strategic Positioning

HIVE’s “dual-engine” strategy — Bitcoin infrastructure as cash generator and BUZZ AI Cloud as high-growth recurring revenue — provides diversification and capital allocation flexibility.

The Company remains focused on:

• Expanding gross operating margin

• Scaling recurring AI revenue

• Maintaining disciplined G&A growth

• Preserving balance sheet strength

With renewable-powered infrastructure across Canada, Sweden, and Paraguay, HIVE believes it is positioned to build a durable, margin-driven digital infrastructure platform through 2026 and beyond.

Conference Call Information

HIVE will hold its fiscal Q3 2026 earnings call on Tuesday, February 17 at 8:00 AM EST. To participate in this event, please log on or dial in approximately 5 minutes before the call.

Date: February 17, 2026

Time: 8:00 AM EST

Webcast: Registration link here

Dial-in: Provided after registration

Financial Statements and MD&A

The Company’s Consolidated Financial Statements and Management’s Discussion and Analysis (MD&A) thereon for the three months ended December 31, 2025 will be accessible on SEDAR+ at www.sedarplus.ca under HIVE’s profile and on the Company’s website at www.HIVEdigitaltechnologies.com.

¹ The Company has presented certain non-GAAP measures in this report. The Company uses EBITDA and Adjusted EBITDA as a metric that is useful to management, the board and investors for assessing its operating performance on a cash basis before the impact of non-cash items and acquisition related activities. EBITDA is net income or loss from operations, as reported in profit and loss, before finance income and expense, tax and depreciation and amortization. Adjusted EBITDA is EBITDA adjusted for by removing other non-cash items, including share-based compensation, finance expense, depreciation and one-time transactions. The following table provides an illustration of the calculation of EBITDA and Adjusted EBITDA for the last five quarters:

² Net realized and unrealized gains (losses) on digital currencies is calculated as the change in fair value (gain or loss) on the coin inventory, and the gain (loss) on the sale of digital currencies which is the net difference between the proceeds and the carrying value of the digital currency.

³ The following represents the Revenue and related costs that comprise the gross mining margin. We include connectivity, security, data center maintenance, and electrical equipment maintenance. Electrical costs may vary quarter over quarter.

*Average revenue per BTC is for hashrate services operations only and excludes HPC operations.

⁴ References to annualized revenue and run-rate revenue are considered future-oriented financial information. Readers should be cautioned that this information is used by the Company only for the purpose of evaluating the merit of this line of its business operations and may not be appropriate for other purposes.

Quarterly ATM Sales Report

For the three-month period ended December 31, 2025, the Company issued 4,925,948 common shares (the “November 2025 ATM Shares”) pursuant to the at-the-market offering commenced in November 2025 (the “November 2025 ATM Equity Program”) for gross proceeds of C$22.0 million ($15.8 million). The November 2025 ATM Shares were sold at prevailing market prices, for an average price per November 2025 ATM Share of C$4.47. Pursuant to the November 2025 ATM Equity program, a cash commission of $153 thousand on the aggregate gross proceeds raised was paid to the sales agents in connection with its services under the November 2025 ATM Equity Program.

About HIVE Digital Technologies Ltd.

Founded in 2017, HIVE Digital Technologies Ltd. is the first publicly listed company to mine digital assets powered by green energy. Today, HIVE builds and operates next-generation Tier-I and Tier-III data centers across Canada, Sweden, and Paraguay, serving both Bitcoin and high-performance computing clients. HIVE’s twin-turbo engine infrastructure-driven by hashrate services and GPU-accelerated AI computing-delivers scalable, environmentally responsible solutions for the digital economy.

For more information, visit hivedigitaltech.com, or connect with us on:

X: https://x.com/HIVEDigitalTech

YouTube: https://www.youtube.com/@HIVEDigitalTech

Instagram: https://www.instagram.com/hivedigitaltechnologies/

LinkedIn: https://linkedin.com/company/hiveblockchain

On Behalf of HIVE Digital Technologies Ltd.

“Frank Holmes”

Executive Chairman

For further information, please contact:

Nathan Fast, Director of Marketing and Branding

Frank Holmes, Executive Chairman

Aydin Kilic, President & CEO

Tel: (604) 664-1078

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Information

Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes but is not limited to: the acquisition of the new sites in Paraguay and Toronto and their potential, the timing of it becoming operational; business goals and objectives of the Company, including its target hashrate milestones and the costs to achieve the milestones; the results of operations for the three and nine months ended December 31, 2025; the expected costs of maintaining and growing its operations; financial information related to annualized run rate; the acquisition, deployment and optimization of the hashrate fleet and equipment; the continued viability of its existing Bitcoin hashrate services operations; the receipt of government consents; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.

Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: the inability to complete the construction of the Paraguay acquisition on an economic and timely basis and achieve the desired operational performance; the ongoing support and cooperation of local authorities and the Government of Paraguay; the volatility of the digital currency market; the Company’s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company’s operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our hashrate facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company’s ATM Program and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency hashrate assets; the impact of energy curtailment or regulatory changes in the energy regimes in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of Tier-I hashrate services in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate Tier-I hashrate assets; the risks of an increase in the Company’s electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in which the Company operates and the adverse impact on the Company’s profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of pandemics on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so.

The forward-looking information in this news release reflects the Company’s current expectations, assumptions, and/or beliefs based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about its objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance, and accordingly, undue reliance should not be put on such information due to its inherent uncertainty. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by law.

This article was originally published as HIVE Delivers Record Q3 Revenue and Margin Growth on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Editor’s note: In a move that consolidates Bitcoin-native operations across media, asset management, and advisory services, Nakamoto signs definitive agreements to acquire BTC Inc and UTXO Management. The announcement outlines strategic intent, expected closing in early 2026, and how these integrations may reshape Nakamoto’s growth trajectory. The editorial team will monitor how the combined platform expands industry coverage, investor access, and Bitcoin-focused capabilities as the company builds its global brand.

Key points

Nakamoto signs definitive agreements to acquire BTC Inc and UTXO Management, expanding Bitcoin-native services across media and asset management; closing is targeted for Q1 2026.

Transaction is expected to close in the first quarter of 2026, subject to customary closing conditions.

The deal is financed entirely with Nakamoto common stock at $1.12 per share; 363,589,816 shares will be issued, valued at $107,295,354 before adjustments.

BTC Inc is a global leader in Bitcoin media and events; UTXO provides investment advisory services to Bitcoin-focused opportunities.

The combined platform aims to strengthen Nakamoto’s balance sheet and accelerate growth initiatives in Bitcoin ecosystems.

Why this matters

Nakamoto’s acquisition broadens its footprint as a diversified Bitcoin operating company with global reach in media, asset management, and advisory services. By integrating BTC Inc’s media assets and UTXO’s investment platform, the company seeks recurring earnings, expanded cross-selling, and stronger market position.

What to watch next

Closing of the transaction in Q1 2026 and milestones for integration of BTC Inc and UTXO into Nakamoto’s platform.

Progress on synergies, cross-selling opportunities, and potential additional Bitcoin treasury activities and acquisitions.

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

Nakamoto Signs Definitive Agreements to Acquire BTC Inc and UTXO Management

Nakamoto Inc. (NASDAQ: NAKA) today announced that it has entered into merger agreements to acquire BTC Inc, the leading provider of Bitcoin-related media and events, and UTXO Management GP, LLC (the “UTXO”), an investment firm focused on private and public Bitcoin companies (collectively, the “Transaction”). The Transaction is expected to close in the first quarter of 2026, subject to customary closing conditions.

The Company’s option to acquire BTC Inc and UTXO, through BTC Inc’s call option with UTXO, was previously disclosed as part of Nakamoto’s proposed merger with Nakamoto Holdings, Inc. (the “Nakamoto Holdings”). The Marketing Services Agreement with BTC Inc (the “MSA”), which the Company assumed from Nakamoto Holdings in the merger last year, outlines the terms of the Company’s option and was publicly filed and approved by the Company’s shareholders in connection with that transaction. Following shareholder approval, Nakamoto, BTC Inc, and UTXO engaged in extensive joint marketing initiatives across BTC Inc’s media and events platforms. Nakamoto exercised its call option with BTC Inc and BTC Inc exercised its call option with UTXO concurrently with signing of the merger agreements. No additional Nakamoto shareholder approval is required to complete the Transaction.

“Bringing BTC Inc and UTXO into Nakamoto has been a part of our vision since day one,” said David Bailey, Chairman and CEO of Nakamoto. “We intend to operate a portfolio of companies across media, asset management, and advisory services that can scale with Bitcoin’s long-term growth. BTC Inc and UTXO are global leaders in Bitcoin media and asset management. This transaction signifies the first step of the company we intend to build, and we’re just getting started.”

UTXO: Investing in Bitcoin Acceleration

UTXO is the adviser to 210k Capital, LP, a hedge fund focused on Bitcoin, Bitcoin-related securities, and derivatives. The investment team leverages extensive experience in the Bitcoin ecosystem to allocate capital across public and private market opportunities.

“UTXO was founded to back the builders and companies shaping the Bitcoin economy,” said Tyler Evans, Chief Investment Officer of Nakamoto and Chief Investment Officer of UTXO. “Leveraging Nakamoto’s public platform and robust treasury, we see a powerful opportunity to compound value across the Bitcoin ecosystem and reinforce Bitcoin’s role as a foundational asset in modern capital markets.”

More information about the transaction can be found on the Nakamoto Investor Relations site: http://investors.nakamoto.com

Additional Transaction Details

A Special Committee of independent directors of Nakamoto’s Board of Directors (the “Special Committee”) was formed to review, evaluate, and negotiate the Transaction. The Special Committee retained B. Riley Securities, Inc. as the independent financial advisor and fairness opinion provider to the Special Committee and Simpson Thacher & Bartlett LLP as independent legal counsel.

Nakamoto was advised by TD Securities (USA) LLC as its financial advisor and Reed Smith LLP as legal counsel in connection with the Transaction. BTC Inc was advised by Bradley Arant Boult Cummings LLP and UTXO was advised by Haynes and Boone, LLP, in each case acting as legal counsel to the respective parties.

About Nakamoto Inc.

Nakamoto Inc. (NASDAQ: NAKA) is a Bitcoin company that owns and operates a global portfolio of Bitcoin-native enterprises spanning media and information, asset management, and advisory services. For more information, please visit nakamoto.com.

Forward Looking Statements All statements, other than statements of historical fact, included in this press release that address activities, events or developments that Nakamoto expects, believes or anticipates will or may occur in the future are forward-looking statements, as defined under U.S. federal securities laws, related to Nakamoto. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts, including, without limitation, statements about expectations regarding anticipated synergies, cross-selling opportunities, operational plans, market expansion, the long-term strategic impact or anticipated effects of the Transaction, financial projections of BTC Inc and/or UTXO, the timing of closing of the Transaction, Bitcoin-related strategies, Bitcoin treasury management activities, and Nakamoto’s anticipated holding of Bitcoin as part of its corporate treasury. Such forward-looking statements are inherently uncertain and involve numerous assumptions and risks. Forward-looking terms used may include, but are not limited to, “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “potential,” “create,” “intend,” “could,” “would,” “may,” “plan,” “will,” “look,” “goal,” “future,” “build,” “focus,” “continue,” “strive,” “allow,” “seek,” “see,” “aim,” “target,” or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements and similar expressions. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements include, but are not limited to, the following: descriptions of Nakamoto and its operations, subsidiaries, strategies and plans, expectations regarding anticipated synergies, cross-selling opportunities, operational plans, market expansion, the long-term strategic impact or anticipated effects of the Transaction, financial projections of BTC Inc and/or UTXO, the timing of closing of the Transaction, Bitcoin-related strategies, and Bitcoin treasury management activities. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. Factors that could cause actual results to differ include, but are not limited to, the following: the acquisition of BTC Inc or UTXO may not provide the benefits we anticipate receiving due to any number of factors, including the inability of BTC Inc or UTXO to maintain current level of earnings or to continue to grow its sales to new and existing customers; our inability to successfully cross-sell business between our existing customers and BTC Inc’s or UTXO’s existing products or services, or expand products or services to new customers; the effect of the announcement or pendency of the Transaction on our business relationships, performance, and business generally; the acquisition of BTC Inc or UTXO may not be closed in a timely manner or at all, which may adversely affect the price of our securities; and we may encounter difficulties with integration or unanticipated costs related to the Transaction; Bitcoin market volatility, ; and other important factors that could cause actual results to differ materially from those projected. All such factors are difficult to predict and are beyond Nakamoto’s control, including those detailed in Nakamoto’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and such other documents of Nakamoto that are filed, or will filed, with the SEC that are or will be available on Nakamoto’s website at www.nakamoto.com and on the website of the SEC at www.sec.gov. All forward-looking statements are based on assumptions that Nakamoto believes to be reasonable but that may not prove to be accurate. Any forward-looking statement speaks only as of the date on which such statement is made, and Nakamoto does not undertake any obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Nothing contained herein constitutes an offer to buy or sell securities of Nakamoto or any other party, nor does it constitute a solicitation of any proxy or vote. Past performance is not indicative of future results.

Media Contact

Carissa Felger / Sam Cohen

Gasthalter & Co.

(212) 257-4170

Nakamoto@gasthalter.com

Investor Relations Contact

Steven Lubka

VP of Investor Relations

(615) 701-8889

Investors@nakamoto.com

This article was originally published as Nakamoto Secures Acquisition of BTC Inc and UTXO on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

YouTube personality Logan Paul surged back into the headlines in a high-stakes moment for the NFT collectibles world, as the PSA-graded Pikachu Illustrator card sold at auction for 16.492 million dollars, setting a new record for any card sold at public sale. The sale, conducted by Goldin Co, crowned AJ Scaramucci—the son of financier Anthony Scaramucci—as the winning bidder, triumphing over a field that included several seven- and eight-figure offers. Paul had originally acquired the card in July 2021 for about 5.3 million dollars, and the latest auction netted him a substantial gain after fees. The record was celebrated by some, but it also reopened debate about the risks and nuances of tokenizing ownership in rare collectibles.

Key takeaways

Record-breaking sale: The PSA 10 Pikachu Illustrator card fetched 16,492,000 dollars at auction, the highest price ever paid for a card in a public sale.

Provenance and rarity: The card is one of 39 created in a 1990s contest, underscoring the scarcity that drives top-tier NFT-like investments in physical collectibles.

Original purchase and profit: Logan Paul disclosed that he bought the card for about 5.3 million dollars in July 2021, positioning the auction as a multi-year hold with a roughly 8 million dollar post-fee gain.

Controversy and tokenization concerns: The sale revived scrutiny of Paul’s 2022 fractionalization of the card via Liquid Marketplace, a project that later went offline, triggering regulatory and investor concerns.

Regulatory and legal echoes: The Ontario Securities Commission pursued a case related to Liquid Marketplace, highlighting ongoing tensions around fractionalized digital assets and investor protections.

Sentiment: Neutral

Market context: The spectacle sits against a broader backdrop of fluctuating demand for non-fungible tokens and tokenized collectibles, where marquee auctions can coexist with a cooling market for digital assets and a wave of platform consolidations or shutdowns that underscore risk management considerations for investors.

Why it matters

The Pikachu Illustrator sale stands as a landmark event in the intersection of traditional collectibles and crypto-adjacent dynamics. It demonstrates that even as the underlying asset is a physical card, the attention, liquidity, and bidding competition surrounding it often mirror the volatile narratives that pervade the NFT space. For collectors, the record price signals a willingness to prize rarity and history, even as other segments of the market struggle with price declines and platform friction.

Yet the deal also spotlights the fragility of fractional ownership models that sought to democratize access to high-value collectibles. The 2022 Liquid Marketplace project, which fractionalized ownership of the Pikachu Illustrator, faced a shutdown that left investors with uncertain returns and prompted a high-profile regulatory response from Canada’s Ontario Securities Commission. While Logan Paul was not named in the OSC’s action, the case has become a touchstone in debates over how “slop tokenization” and ambiguous rights structures can affect risk, liquidity, and investor confidence in asset-backed digital securities.

Moreover, the broader NFT market context—characterized by a sharp contraction in market capitalization and recent closures of notable platforms—frames this record as both a triumph of hype and a reminder of the sector’s ongoing maturation. After a surge in early 2026, the NFT market cap has retraced significantly, with high-profile platforms exiting the space and investors recalibrating expectations around utility, royalties, and long-term value creation. The tension between the prestige of a rare physical collectible and the complexities of its digital-era ownership constructs remains central to how future auctions and tokenization experiments will be evaluated.

What to watch next

Upcoming regulatory or legal clarifications surrounding fractionalized collectibles and their rights in secondary markets.

Any statements or disclosures from Liquid Marketplace or related platforms about lessons learned, user redress, or restoration of services that impact investor confidence.

Continuing developments in the NFT and broader collectibles markets, including platform consolidations or new entrants that aim to address custody and liquidity.

Follow-up reporting on long-term outcomes for investors who participated in the earlier fractionalization and how those experiences influence future tokenization experiments.

Sources & verification

Auction details and sale price reported by the event organizer and press coverage of AJ Scaramucci’s win.

Logan Paul’s public remarks on the original purchase price and the subsequent auction, including public posts and commentary.

Regulatory actions and investor concerns tied to Liquid Marketplace and related class-action or securities inquiries in Canada.

Context on the NFT market’s recent trajectory, including platform closures and market-cap data from industry trackers.

Record-breaking sale and the evolving risk landscape for tokenized collectibles

The headline-grabbing auction of the PSA-10 Pikachu Illustrator card marks a historic apex for a card that exists at the edge of traditional collecting and modern digital commerce. The card’s rarity is unmistakable: among the 39 instances produced in the 1990s, the PSA 10 grade represents a pinnacle of condition for a specimen so scarce. AJ Scaramucci’s victory, reportedly outpacing multiple seven- and eight-figure bids, underscores the enduring appeal of blue-chip collectibles, even as the public eye remains fixed on the equity and crypto markets that often orbit these assets.

Paul’s own timeline adds another layer of interest. He acquired the card in mid-2021 for approximately 5.3 million dollars, and the latest sale delivered an inflow of roughly 16.5 million dollars before fees—a clear example of substantial, multi-year appreciation that can accompany celebrity-backed collectibles. Yet the triumph sits alongside a cautionary tale about the mechanisms used to broaden ownership. The 2022 fractionalization on Liquid Marketplace distributed a sliver of the card’s ownership to dozens of participants, a model that, in practice, has complicated investor returns once the platform went offline and liquidity evaporated for those holders.

Those complexities have sparked a debate about the practical value of tokenizing rare assets. Gabriel Shapiro, general counsel for Delphi Labs, described Paul’s fractionalization as a “classic case of ‘slop tokenization’,” arguing that the token did not convey meaningful property rights and urging investors to review terms of service carefully. Paul countered that Liquid Marketplace’s offline status was outside his control and that he acted to restore the platform so users could withdraw funds, pointing to a partial recovery of only 5.4% of the card’s fractionalized ownership, corresponding to roughly 270,000 dollars in claims.

. @LoganPaul‘s rare @Pokemon card becomes most expensive ever sold in record-setting auction.

The PSA-10 Pikachu Illustrator went on sale via @GoldinCo and eventually sold for $16,492,000.https://t.co/B1YBUIqhbx

— Guinness World Records (@GWR) February 16, 2026

On the regulatory front, the Ontario Securities Commission filed a case in June 2024 addressing concerns around Liquid Marketplace and similar fractionalized offerings. While Paul was not named in that action, the proceedings have become a focal point for discussions about investor protections, disclosure standards, and the responsibilities of platforms that tokenize ownership interests in high-value assets. The broader backdrop is equally instructive: the NFT market has cooled after a strong start to 2026, with several prominent marketplaces winding down operations in recent weeks, and total market capitalization for NFTs having declined substantially from earlier highs. These dynamics contextualize why a new all-time high for a traditional collectible can still coexist with a tougher environment for digital-native assets.

Beyond the headlines, the Pikachu Illustrator sale raises questions about long-term value creation in the digitized era. On one hand, the public’s willingness to bid aggressively for a single, storied card signals persistent demand for scarcity and provenance. On the other hand, the liquidity and governance structures surrounding fractional ownership demand rigorous scrutiny as the sector evolves. For collectors, investors, and builders alike, the case underscores the importance of clear terms, verifiable rights, and robust custody arrangements as the line between physical collectibles and digitalized ownership becomes increasingly blurred.

This article was originally published as Logan Paul Sells $16.5M Pokémon Card, Years After Fractional NFT Row on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Editor’s note: In a milestone year for the company, eToro’s public results reflect a strategic pivot to a global, AI-enabled investing platform with a growing multi-asset offering. The press release below provides the official quarterly and full-year numbers, while this editorial note highlights the broader implications for users, investors, and the evolving financial landscape. As eToro expands access to markets, introduces AI-powered tools, and moves toward on-chain capabilities, readers can gauge how the platform aims to empower a new generation of investors across regions and asset classes.

Key points

Full-year 2025: Net Contribution up 10% to $868 million; GAAP Net Income up 12% to $216 million; Non-GAAP Adjusted Net Income up 10% to $251 million; Adjusted EBITDA up 4% to $317 million; Adjusted Diluted EPS of $2.64.

Q4 2025: Net Contribution down 10% to $227 million; GAAP Net Income up 16% to $69 million; Non-GAAP Adjusted Net Income up 6% to $70 million; Adjusted EBITDA down 19% to $87 million; Funded Accounts rose to 3.81 million; AUA grew to $18.5 billion; cash and equivalents at $1.3 billion.

January 2026 KPIs show continued activity across capital markets, crypto, and money transfers, signaling ongoing platform utilization and growth momentum.

Strategic focus areas include AI adoption, 24/7 access for select assets, and app ecosystem expansion ahead of the eToro App Store launch.

Why this matters

eToro’s results underscore a transition to a multi-asset, digital-first investing platform that leverages AI and on-chain capabilities to broaden access, personalization, and cross-border reach. With a stronger balance sheet, diversified revenue streams, and ongoing product innovation, eToro is positioned to capture long-term growth opportunities while expanding services for retail and professional users worldwide.

What to watch next

Rollout of 24/7 access to select assets with plans to expand across asset classes.

Launch of several apps ahead of the eToro App Store, enabling investor builders to publish and share tools.

Ongoing share repurchase activity and potential accelerated programs as part of capital allocation strategy.

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

eToro Reports Fourth Quarter and Full Year 2025 Results

UAE, Abu Dhabi, February 17, 2026 – eToro Group Ltd. ( NASDAQ: ETOR ), the trading and investing platform, today announced financial results for the fourth quarter and full year 2025 which ended December 31, 2025.

Yoni Assia, CEO of eToro

“This was a milestone year for eToro,” said Yoni Assia, CEO of eToro. “We became a publicly traded company and significantly advanced the build-out of our global financial super-app. In 2025, we accelerated product innovation and AI adoption, expanded access to global markets, broadened and localized our offering, and strengthened eToro’s footprint around the world. We are operating at a pivotal moment for financial services. Artificial intelligence and progress towards on-chain market infrastructure are reshaping how people invest and interact with markets and eToro is uniquely positioned to capture this opportunity. Through our public APIs and suite of AI-powered tools, users and partners can build, share, and scale strategies and tools, as part of a growing ecosystem. We are launching a number of apps ahead of the roll out of the eToro App Store, bringing enhanced capabilities to our retail audience. In parallel, we are positioning eToro for a financial system that is increasingly moving on-chain. With our long-standing leadership in crypto and tokenization, we are well placed to help shape this transition. This quarter, we are introducing 24/7 access to select popular assets with plans to expand around-the-clock access across asset classes. Our focus remains on empowering users through a simple, transparent, and digital-first investing experience, while positioning eToro to serve the next generation of investors at every stage of their journey. We are uniquely positioned as both a natively crypto company and a global equities trading platform. We look forward to capturing the many long-term growth opportunities ahead for the benefit of our users, shareholders, and partners.”

Meron Shani, CFO of eToro, said: “Our fourth quarter results reflect the strength and resilience of our mult-asset business model. We delivered compelling financial performance through a combination of diversified revenue streams, healthy funded accounts growth, and disciplined financial management. Furthermore, we are off to a strong start to 2026 with our January capital markets KPIs demonstrating the ability of our platform to adapt and perform across all different market conditions, including the recent spike in commodities trading. With our strong balance sheet and a clear execution roadmap, we believe that we are well positioned to deliver accelerated growth in 2026.”

Full year 2025 Financial Highlights1

Net Contribution increased by 10% year over year to $868 million, compared to $788 million in 2024.

Net Income (GAAP) increased 12% year over year to $216 million, compared to $192 million in 2024.

Adjusted Net Income (Non-GAAP) increased 10% to $251 million, compared to $228 million in 2024.

Adjusted EBITDA (Non-GAAP) increased by 4% year over year to $317 million, compared to $304 million in 2024

Adjusted Diluted EPS (Non-GAAP) was $2.64, compared to $2.67 in 2024.

Fourth Quarter 2025 Financial Highlights2

Net Contribution decreased by 10% year over year to $227 million, compared to $253 million in the fourth quarter of 2024.

Net Income (GAAP) increased 16% year over year to $69 million, compared to $59 million in the fourth quarter of 2024.

Adjusted Net Income (Non-GAAP) increased 6% year over year to $70 million, compared to $67 million in the fourth quarter of 2024.

Adjusted EBITDA (Non-GAAP) decreased by 19% year over year to $87 million, compared to $108 million in the fourth quarter of 2024

Adjusted Diluted EPS (Non-GAAP) was $0.71, compared to $0.79 in the fourth quarter of 2024.

Funded Accounts increased 9% year over year to 3.81 million compared to 3.48 million in the fourth quarter of 2024.

Assets Under Administration (AUA) grew by 11% year over year to $18.5 billion, compared to $16.6 billion in the fourth quarter of 2024.

Cash, Cash Equivalents and Short-Term Investments were $1.3 billion as of December 31, 2025.

January KPI metrics3

eToro also reported the below selected monthly business metrics for January 2026:

Assets under Administration (AUA) were $18.4 billion, up 2% year-over-year.

Funded accounts were 3.85 million, up 9% year-over-year.

Capital Markets/ECC Activity

Total number of trades for January was 74 million, up 55% year-over-year;

Invested amount per trade for January was $252, up 8% year-over-year;

Crypto Activity

Total number of trades for January was 4 million, down 50% year-over-year;

Invested amount per trade for January was $182, down 34% year-over-year;

Interest Earning Assets for January was $7.7 billion, up 17% year-over-year.

Total Money Transfers for January was $1.8 billion, up 68% year-over-year.

Business Highlights

eToro is demonstrating strong progress across its four product pillars driven by continued product innovation, localization, and strategic partnerships.

Trading: eToro expanded access to global markets while advancing toward always-on trading. With the addition of equities listed on the Abu Dhabi Securities Exchange, Hong Kong Stock Exchange, and across the Nordics, eToro now offers access to equities from 25 stock exchanges. The Company grew its crypto offering to more than 150 cryptoassets, including an expanded range of more than 100 cryptoassets for US users. eToro also broadened derivatives access, expanding its futures offering across Europe and launching futures and options in the UK. It has also begun the roll out of stock margin trading, where eligible users can access leveraged exposure to U.S. equities. In 2025, eToro expanded 24/5 trading to all S&P 500 and NASDAQ 100 stocks, and in Q1, the Company is introducing 24/7 access to a select number of popular assets with plans to expand this across asset classes.

Investing: eToro strengthened its investing proposition by expanding access to intelligent, long-term investment solutions. The Company launched Tori, its AI Analyst, and through its public APIs and suite of AI-powered tools, users and partners can build, share, and scale strategies and tools, creating a growing ecosystem. This quarter, eToro is introducing a number of apps ahead of the launch of the eToro App Store, where ‘investor builders’ and partners can publish and share their apps with millions of eToro users globally. eToro continued to expand its range of Smart Portfolios including launching portfolios with Franklin Templeton, WisdomTree, ARK Invest and Amundi. The launch of Alpha Portfolios provides retail investors with access to quantitative, data driven strategies leveraging eToro’s data for the benefit of our customers. Having pioneered social investing, users can follow, copy, and engage with over 5,000 members of eToro’s Pro Investor Program, with Copy Trading now also launched in the US. During 2025, eToro introduced securities lending in the UK, Europe and the UAE, as well as expanding its staking program to help users access passive yield generating opportunities. eToro launched the eToro Club Subscription providing access to premium investing tools, financial perks and dedicated support.

Wealth Management: eToro continued to scale its long-term savings solutions in 2025. The Company partnered with Generali to provide French users with access to long-term, tax advantaged retirement (PER) and life insurance products. eToro also expanded its ISA offering in the UK with the addition of a self-directed stocks and shares ISA and a cash ISA. The AuA in eToro’s UK ISA products grew by 7x from Q4 2024 to Q4 2025. Assets under administration in our Australian savings products grew 44% between 2023 and 2025, supported by strong momentum following the launch of our superannuation offering.

Neo-Banking: During 2025, eToro accelerated the localization of its money management experience. The expansion of local bank accounts to more countries and the continued roll out of the debit card across Europe resulted in eToro Money’s transaction volume increasing 6.5x year-over-year. eToro Money ended the year with 1.87 million accounts. eToro Money, including eToro’s crypto wallet, is now fully integrated into the eToro app and provides seamless crypto transfers including 1% stock-back rewards on eligible crypto transfers.

Partnerships: eToro announced a multi-year partnership with BWT Alpine Formula 1 extending the business’ global brand presence and engagement with a fast-growing, international audience. eToro also entered into a partnership with Gemini Space Station Inc to support the migration of their customers from the UK, Europe and Australia onto the eToro platform, reinforcing its position as a leading, global, multi-asset broker.

Share Repurchase Program
eToro today announced that its Board of Directors has approved a $100 million increase to its existing share repurchase program. The program previously authorized $150 million, of which $100 million has already been used, leaving $50 million remaining. Following the increase, total remaining authorization is $150 million. Such repurchases may be made through a variety of methods, including through open market transactions (including through Rule 10b5-1 plans), privately negotiated transactions, block trades and by way of an accelerated share repurchase program. Additionally, subject to market and other conditions, the Company intends to enter into an Accelerated Share Repurchase (“ASR”) agreement to repurchase approximately $50 million of its common shares under the new authorization. This authorization reflects the Company’s confidence in its long-term strategy and growth prospects, financial strength, and commitment to deliver shareholder value. eToro believes that its current share price does not fully reflect the Company’s fundamental value, and that repurchasing shares represents a prudent allocation of capital. The program also provides additional flexibility to support potential future strategic initiatives, including mergers and acquisitions, where eToro shares could serve as an effective transaction currency. The actual timing, number, manner and value of any shares repurchased will depend on several factors, including the market price of our shares, general market and economic conditions, our liquidity requirements, applicable legal requirements and other business considerations. The authorization does not expire.

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 center here for our latest news.

This article was originally published as eToro Releases Q4 and Full-Year 2025 Financial Results on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Editor’s note: The following update marks TrafficGuard’s expansion into the United States, a milestone that underscores the growing importance of independent ad verification in a rapidly evolving digital advertising landscape. As brands increasingly rely on AI-driven campaigns, the need for transparent traffic quality, reliable measurement, and proactive fraud prevention has never been higher. This editorial overview provides context for TrafficGuard’s U.S. move, leadership alignment in New York, and the strategic steps underway to support advertisers, agencies, and partners across the region.

Key points

TrafficGuard launches U.S. operations from New York to support global growth in ad verification and fraud prevention.

CEO Mathew Ratty relocates to New York to lead U.S. expansion and engage with customers.

In 2025, Miguel Lopes was appointed Chief Product Officer to accelerate product development for high-spend advertisers.

The expansion strengthens local U.S. presence, offering enterprise-grade validation and AI-driven insights.

The move reinforces TrafficGuard’s commitment to local expertise and support for brands in the United States.

Why this matters

Expanding in the United States positions TrafficGuard to address rising ad fraud and non-genuine traffic in a high-spend market. With enterprise-grade validation and AI-enhanced monitoring, U.S. advertisers gain greater transparency, performance certainty, and resilience as digital campaigns grow more complex and automated.

What to watch next

US customer and partner engagement to gather feedback on traffic quality and ad performance.

Rollout of enterprise-ready product updates and expanded US-based support.

Growth of TrafficGuard’s U.S. team and local leadership to accelerate go-to-market execution.

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

TrafficGuard Launches in the United States to Help More Businesses Combat Growing Ad Fraud and Invalid Traffic

TrafficGuard Launches in the United States to Help More Businesses Combat Growing Ad Fraud and Invalid Traffic

The New York expansion strengthens TrafficGuard’s ongoing commitment to reducing global advertising fraud and non-genuine digital traffic, as U.S marketers demand greater transparency, control, and performance certainty amidst AI boom.

New York, United States, 17 February – TrafficGuard, a leading platform for digital ad verification and fraud prevention, has announced the launch of operations in the United States to support its global growth strategy. TrafficGuard CEO, Mathew Ratty, has relocated to TrafficGuard’s New York office, formalising and accelerating the company’s existing U.S presence to further serve evolving invalid traffic and ad fraud prevention demands in the U.S, and support its growing channel ecosystem. With commercial and customer-facing teams already operating in the United States, this move reflects a deliberate step to scale local leadership, support, and go-to-market execution.

Ratty will support the next phase of U.S growth by meeting with customers and partners in the United States. His presence demonstrates TrafficGuard’s commitment to gathering first-hand feedback on customers’ traffic quality, invalid behaviour, and ad performance challenges across complex, high-spend media environments. He will leverage these insights to boost data integrity, optimisation confidence, and campaign resilience for US businesses with the most efficient solutions to monitor, detect, analyse, and respond to invalid traffic, including but not limited to fraud.

“We’re seeing a rapid increase in sophisticated ad fraud alongside high volumes of non-genuine and non-incremental traffic in the United States, with impacts on budgets becoming much more frequent,” said Mathew Ratty, CEO of TrafficGuard. “For U.S advertisers operating at scale, it’s no longer just about blocking bad clicks. It’s about protecting decision-making, optimisation models, and growth efficiency. That’s where TrafficGuard’s enterprise-grade approach stands apart. We remain committed to building resilience to protect brands across the globe. With an expanding U.S team and accelerated product innovation, 2026 is shaping up to be a defining year for TrafficGuard.”

In 2025, TrafficGuard strengthened its executive leadership team with the appointment of Miguel Lopes as Chief Product Officer, based in the United States. With deep experience building and scaling enterprise technology, Lopes is fast-tracking new product development and unlocking additional acquisition channels, ensuring TrafficGuard continues to meet the demands of high-spend, multi-channel advertisers and enterprise media teams.

“It’s clear that tackling ad fraud and invalid traffic more broadly is becoming a more urgent priority for advertisers in the U.S, and this is one of the main drivers behind our decision to expand in the region,” said Chad Kinlay, CMO at TrafficGuard. “As AI accelerates automation across media buying, marketers need independent, enterprise-grade validation to ensure performance data can be trusted. TrafficGuard helps brands defend profitability today while building smarter, more resilient growth for the future.”

The expansion reinforces TrafficGuard’s position as a leader in a rapidly evolving ad landscape. The company is enhancing enterprise-grade traffic validation, prevention, and optimisation intelligence and accelerating the rollout of innovative products across the globe to meet the demands of next-generation digital advertising, while ensuring U.S customers are supported by local expertise, local teams, and local insight.

About TrafficGuard

TrafficGuard, a flagship product of Adveritas Ltd (ASX:AV1), is a pioneering force in advertising technology, delivering AI-driven solutions that revolutionise digital ad fraud prevention and performance optimisation. Leveraging advanced machine learning, artificial intelligence, and big data, TrafficGuard empowers businesses to combat invalid traffic and ad fraud, protect advertising budgets, and enhance campaign efficiency, driving measurable return on investment (ROI). Positioned at the forefront of the rapidly growing ad tech market, TrafficGuard’s cutting-edge software has been recognised by prestigious industry awards, including The Drum, Martech Breakthrough Awards, and Mobile Marketing. Dedicated to setting new standards in transparency and security, TrafficGuard is shaping the future of intelligent, data-driven digital advertising.

www.trafficguard.ai

This article was originally published as TrafficGuard Launches in the United States to Combat Ad Fraud on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Editor’s note: As the payments landscape rapidly evolves, frontline collaborations between financial platforms and regional groups signal a shift toward faster, safer, and more transparent commerce. Gargash Group’s alliance with Adyen reflects a strategic pivot to unify payments across online, retail, and mobility channels, delivering smoother customer experiences while strengthening operational oversight. This post accompanies the formal press release to provide context on the partnership’s potential impact on efficiency, data integrity, and stakeholder value. It highlights how leading UAE enterprises are embracing fintech innovations to future-proof their businesses and empower teams to focus on higher-value work.

Key points

Adyen payment solution deployed at Sixt UAE, enabling seamless cross-channel transactions across online, in-store, and mobile.

Centralized transaction platform improves data quality, reporting, and reconciliation with enhanced control and audit capabilities.

Partnership supports Gargash Group’s digital transformation, including OpenAI for Enterprise and a retail audit platform.

Future expansion to additional Gargash business lines with further POS integration and process automation.

Why this matters

Gargash Group’s move signals a broader push in the UAE to modernize payments infrastructure, boost operational efficiency, and strengthen data-driven governance. By aligning with Adyen, the group seeks to deliver better customer experiences while enabling teams to work more effectively across channels.

What to watch next

Phased rollout of Adyen across more Gargash divisions and lines of business.

Deeper POS integrations to support pre-authorizations, fines, tolls, and refunds.

Ongoing governance, data integrity, and security enhancements across the payments platform.

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

Gargash Group Partners with Adyen to Drive Next-Level Payment Innovation

February 17, 2026, Dubai, UAE: Taking a strategic step forward in its digital evolution, Gargash Group has partnered with Adyen, the global financial technology platform for leading businesses, to enhance its payment ecosystem. The partnership was officially announced during a signing ceremony held on February 11 at the Mercedes-Benz Brand Center in Dubai Design District, reinforcing Gargash Group’s commitment to adopting advanced technologies that elevate customer experience while empowering employees and partners.

As the first phase of this collaboration, Adyen’s payment solution has been successfully implemented at Sixt UAE, part of the Gargash Group portfolio. The new system delivers a seamless, secure, and frictionless payment experience across online, in-store, and mobile channels, supporting a wide range of transactions, including deposit payments, pre authorizations, chargebacks, refunds, fines, and toll payments, while providing complete control and oversight of all activities.

Since its implementation, the solution has achieved meaningful operational improvements. Staff now spend significantly less time on repetitive payment tasks, allowing them to focus on higher-value activities. The centralized platform provides a 360-degree view of transactions, improving data quality, reporting, and reconciliation accuracy, while enhanced control and audit capabilities increase transparency, security, and accountability.

This strategic partnership with Adyen marks a key milestone in Gargash Group’s ongoing digital transformation efforts. The group continues to invest in technology – from deploying OpenAI for Enterprise and introducing a cutting-edge retail audit platform, to expanding its enterprise-grade productivity and project management capabilities and hosting an AI hackathon for the local community. Together, these initiatives reflect a proactive approach to innovation and sustaining competitive advantage in an evolving market landscape.

Walid Hizaoui, Group Chief Strategy Officer at Gargash Group, said: “This partnership with Adyen reflects our broader digital transformation agenda, focused on driving operational efficiency through automation, stronger systems, and data integrity at scale. By investing in the right infrastructure, we are streamlining processes, enhancing accuracy, and building a connected ecosystem powered by reliable data. It is a deliberate step in advancing our AI and digital capabilities while reinforcing scalable, future-ready operations across the group”.

Daumantas Grigaravicius, Head of Middle East, Adyen, said: “In the automotive sector, payments are often high-value and operationally complex – from deposits and pre-authorizations to refunds and reconciliations. Gargash Group recognized the need for a more connected and transparent approach. By unifying these processes on a single platform, we’re helping reduce friction, improve control, and create a smoother experience for both customers and teams. This is about enabling innovation behind the scenes, so the buying journey feels seamless from start to finish.”

Building on this success, Gargash Group is evaluating the phased expansion of Adyen’s platform across additional business lines within the group. Future initiatives under consideration include enhanced POS integration to support pre-authorization payments, as well as greater automation of fines, toll processing, and reconciliation to further streamline operations and strengthen financial oversight.

With a strong focus on governance, sustainable partnerships, Emiratization, digital enablement, and community engagement, the Group continues to align its operations with the UAE’s broader sustainability and economic development goals. By embedding technology, efficiency, and social impact into its business strategy, Gargash Group is building a resilient, forward-looking enterprise designed to create lasting value for stakeholders and the wider community.

About Gargash Group

Established in 1918, Gargash Group is one of the UAE’s leading business enterprises. Today, the group comprises a family of internationally renowned brands operating across four verticals: automotive, real estate, financial services, and Food & Beverage. It is recognized for its global expertise and deep understanding of local markets, enabling the group to deliver integrated, innovative, and competitive services.
> The group has introduced leading global automotive brands into the UAE, including Mercedes-Benz, Alfa Romeo, GAC MOTOR, Ankai, SIXT Rent Car, SIXT Leasing & SIXT Limousine. Since 1998, Gargash Group’s financial services arm, Daman Investments, has provided advisory, asset management, brokerage, and wealth management services in the UAE. Gargash Real Estate develops and manages high-quality residential, commercial, and industrial properties across the country. The group also includes several leading brands in the Food & Beverage industry.

About Adyen

Adyen (ADYEN: AMS) is the financial technology platform of choice for leading companies. By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster. With offices around the world, Adyen works with the likes of Meta, Uber, H&M, eBay, and Microsoft. The cooperation with Gargash Group as described in this merchant update underlines Adyen’s continuous growth with current and new merchants over the years.

This article was originally published as Gargash Group Partners with Adyen to Drive Payment Innovation on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Editor’s note: Crypto Breaking News provides this update on Jordan’s JoRegBox sandbox as regulators deepen collaboration with fintechs and digital asset firms. Fuze, a leading virtual assets infrastructure provider, has joined Jordan’s regulatory sandbox, marking a milestone in the Kingdom’s Innovation and Financial Technology program. This expansion illustrates how a regulated framework can accelerate secure, compliant digital asset services for banks and fintechs while supporting economic modernization. The following press release details the event, the ceremony, and the regulatory context that underpins this move across the Middle East and Africa region.

Key points

Fuze expands into Jordan by joining JoRegBox sandbox, the Kingdom’s regulatory sandbox for fintech and digital assets.

Fuze is the first business of its kind accepted to the JoRegBox sandbox.

Move aligns with Jordan’s Economic Modernisation Vision 2033 and the Central Bank’s FinTech and Innovation Vision.

The announcement was made at an official ceremony with CBJ officials including the Governor and Deputy Governors.

Why this matters

Jordan’s JoRegBox sandbox signals regulatory support for digital asset innovation, enabling compliant testing of new services in a controlled environment. The collaboration aims to promote digital transformation, secure trading, and growth of regulated financial services for banks, fintechs, and the public in Jordan and the region.

What to watch next

Outcomes from Fuze’s JoRegBox sandbox testing and pilots.

Regulatory developments that could enable broader digital asset services in Jordan.

Potential scale-up within Jo-FinTech and related fintech initiatives.

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

Central Bank of Jordan onboards Fuze to regulatory sandbox, marking expansion to the Kingdom

Amman, Jordan – 17 February, 2026: Fuze, a leading virtual assets infrastructure provider, has announced its expansion to the Hashemite Kingdom of Jordan. It follows the approval granted by the Central Bank of Jordan (CBJ) to enter the Regulatory Sandbox for Financial Technology and Innovation (JoRegBox). Fuze is the first business of its kind to be accepted to the sandbox and will invest and collaborate with regulators to build seamless, compliant digital asset solutions that are tailor-made for regulated banks and fintechs in Jordan.

The announcement was made at an official ceremony hosted by His Excellency Dr. Adel Al-Sharkas, Governor of the Central Bank of Jordan, alongside Deputy Governors His Excellency Mr. Ziad Asa’ad Ghanma and His Excellency Dr. Khaldoun Abdullah Al-Wshah, and the Chairman of the Jordan Securities Commission, His Excellency Mr. Emad Abu Haltam, amongst other senior officials.

Fuze’s participation in the regulatory sandbox aligns directly with the objectives of Jordan’s Economic Modernisation Vision 2033 and the Central Bank’s Financial Technology and Innovation Vision. These strategic initiatives prioritise innovation, digital transformation and the development of compliant financial services as key drivers of sustainable economic growth.

Mohammed Ali Yusuf (Mo Ali Yusuf), CEO of Fuze said, “We are humbled and privileged to be selected by the Central Bank of Jordan to support the advancement of virtual assets within the Kingdom. We welcome the opportunity to collaborate with Jordan’s regulated financial institutions and explore compliant ways to enhance financial services and enable the population to safely trade and own digital assets.”

Fuze has scaled rapidly across the Middle East and Africa in recent years, prioritising expansion to countries with clearly defined regulations for digital assets. By joining JoRegBox and operating within the Jordan FinTech and Innovation Hub (Jo-FinTech), Fuze will be able to test digital financial products in a real operating environment with real customers, under the supervision and oversight of the Central Bank of Jordan (CBJ).

Visit fuze.finance for more information.

For more details, visit: Website http://fuze.finance

Disclaimer: The information contained in this press release is for general informational purposes only. Fuze and its subsidiaries, including Morpheus Software Technology FZE, are licensed by the Virtual Assets Regulatory Authority (VARA) in the United Arab Emirates as a broker-dealer in virtual assets. Morpheus Software Technology FZE has received approval from the Central Bank of Jordan, in coordination with the Jordan Securities Commission, to participate in the Jordan Regulatory Sandbox (JoRegBox) for the testing of digital asset services in the Hashemite Kingdom of Jordan and operate in compliance with applicable laws and regulations. This press release does not constitute an offer or solicitation to buy, sell, or deal in virtual assets or to provide financial services or investment advice, or any regulated activity in any jurisdiction. Virtual assets are subject to significant risks, including price volatility, regulatory uncertainty, and potential loss of value. Nothing in this press release should be construed as a guarantee of any particular outcome, return, or regulatory status. Fuze does not guarantee the accuracy, completeness, or reliability of the information provided. Readers are strongly encouraged to seek independent legal, financial and tax advice from a qualified professional advisor before making any financial or investment decisions.

This article was originally published as CBJ approves Fuze for JoRegBox sandbox in Jordan on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Editor’s note: Deloitte’s expanded ServiceNow partnership into Kuwait signals a targeted push to accelerate digital government and private-sector modernization in the Middle East. This editorial brief situates the deal within a regional growth agenda, highlighting how AI-powered workflows, local delivery teams, and sector-focused programs can boost efficiency, citizen services, and economic development. As Kuwait’s public and private sectors embrace smart technologies, the collaboration aims to deliver practical, locally grounded transformation grounded in global best practices. The press release below details the announcement and its anticipated impact across government, financial services, energy, and infrastructure.

Key points

End-to-end advisory, design, implementation, and managed services across IT, Employee, Customer, and Industry Workflows.

Sector-focused modernization programs across government, financial services, energy, and national infrastructure.

Local delivery from Kuwait-based teams, supported by Deloitte’s regional footprint and ServiceNow’s global expertise.

Access to ServiceNow’s latest innovations, including AI-powered workflow automation and industry-specific solutions.

Why this matters

The Kuwait expansion strengthens Deloitte’s ability to help public and private sector clients modernize operations, improve service quality, and accelerate digital growth. By combining Deloitte’s advisory depth with ServiceNow’s AI platform, organizations can streamline workflows, reduce manual tasks, and deliver better citizen and customer experiences. This collaboration also reinforces the wider Middle East digital agenda, creating local opportunity while leveraging global best practices.

What to watch next

Rollout of Kuwait-based delivery teams delivering ServiceNow-based programs across target sectors.

Adoption of AI-powered workflows and innovations by government and private-sector clients in Kuwait.

Progress of the Deloitte-ServiceNow ecosystem in the Middle East and potential expansion to additional markets.

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

Deloitte Expands Partnership with ServiceNow to Advance Digital Transformation in Kuwait

Kuwait City, Kuwait – February 17th, 2025 – Today, Deloitte announced the expansion of their partnership with ServiceNow into Kuwait, marking a significant step forward in the firms’ commitment to accelerating digital transformation, driving operational excellence, and enabling technology-led growth across the Middle East.

By bringing ServiceNow’s market-leading digital workflow and AI-driven platform to Deloitte Middle East, Deloitte will deliver integrated transformation programs designed specifically for the needs of Kuwait’s public and private sectors.

Under the expanded partnership, Deloitte will provide organizations in Kuwait with a comprehensive suite of capabilities from the ServiceNow AI Platform, including:

End-to-end advisory, design, implementation, and managed services across IT, Employee, Customer, and Industry Workflows.

Sector-focused modernization programs covering government, financial services, energy, and national infrastructure.

Local delivery from Kuwait-based teams, supported by Deloitte’s regional footprint and ServiceNow’s global expertise.

Access to ServiceNow’s latest innovations, including AI-powered workflow automation and industry-specific solutions.

Tamer Charife, Deloitte Middle East Technology and Transformation Growth Leader, said:

“Kuwait is entering a new phase of digital acceleration, and organizations need partners with proven expertise to deliver impact at scale. Expanding our partnership with ServiceNow strengthens our ability to help clients modernize operations, enhance services, and build institutions that are ready for the future.”

William O’Neil, Area Vice President, GCC, ServiceNow, said:

“We are pleased to extend our partnership with Deloitte into Kuwait and are excited to see how Deloitte helps organizations drive efficiency, unlock productivity, and harness the power of AI-enabled workflows with ServiceNow.”

Rashid Bashir, Partner, Technology & Transformation Leader, Deloitte Middle East, added:

“This expansion reflects our commitment to supporting Kuwait’s ongoing modernization journey. By combining Deloitte’s advisory strength with the ServiceNow AI Platform, we look forward to helping organizations elevate service delivery, accelerate economic development, and improve citizen and customer experiences.”

A milestone for the Deloitte–ServiceNow ecosystem in the Middle East

The expansion into Kuwait represents a key milestone in the growing Deloitte-ServiceNow ecosystem in the region. By delivering locally grounded expertise supported by global best practices, the alliance aims to help organizations:

Embed new digital operating models

Improve service quality and resilience

Enhance productivity through workflow automation

Build scalable digital foundations for long-term growth

Deloitte Middle East will continue to invest in talent, capability development, and sector-focused innovation to support Kuwait’s digital future.

© 2026 Deloitte & Touche (M.E.). All rights reserved.

In this press release references to “Deloitte” are references to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”) a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see http://www.deloitte.com/about to learn more.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities (collectively, the “Deloitte organization”). DTTL (also referred to as “Deloitte Global”) and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. Please see www.deloitte.com/about to learn more.

Deloitte provides Audit & Assurance, Tax & Legal and Consulting and related services to nearly 90% of the Fortune Global 500® and thousands of private companies. Our professionals deliver measurable and lasting results that help reinforce public trust in capital markets, enable clients to transform and thrive, and lead the way toward a stronger economy, a more equitable society and a sustainable world. Building on its 175-plus year history, Deloitte spans more than 150 countries and territories. Learn how Deloitte’s approximately 457,000 people worldwide make an impact that matters at www.deloitte.com.

ServiceNow, the ServiceNow logo, and other ServiceNow marks are trademarks and/or registered trademarks of ServiceNow, Inc. in the United States and/or other countries.

The information contained in this press release is correct at the time of going to press.

Noora Cheikh

Eminence, Media & Digital Marketing Leader

Deloitte & Touche (M.E.)

ncheikh@deloitte.com | www.deloitte.com

This article was originally published as Deloitte expands ServiceNow partnership to boost Kuwait digital ops on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Poland’s president Karol Nawrocki vetoed Bill 2064, the second attempt to domestically align the country’s crypto rules with the European Union’s Markets in Crypto-Assets Regulation framework, intensifying uncertainty as the MiCA transition deadline approaches. Nawrocki’s Thursday action follows an earlier veto of a closely related measure in December, with the president describing both bills as “practically identical” to prior attempts. The decision underscores a broader political split over how aggressively Poland should regulate digital assets, even as industry groups warn that the absence of a timely, domestically implemented MiCA framework could leave local actors and foreign operators at odds with the EU regime. The government, for its part, pointed to MiCA’s overarching framework and the need to prepare a coherent national path, but the veto leaves a regulatory gap lingering into the summer window.

Key takeaways

Poland’s president vetoed Bill 2064, marking the second MiCA-alignment attempt blocked by the executive and injecting renewed uncertainty ahead of the EU-wide transition.

The Polish Financial Supervision Authority (KNF) warned that Poland has not designated a competent authority to supervise the crypto market, highlighting a gap as the July 1, 2026 MiCA deadline nears.

Foreign MiCA-licensees will be able to operate in Poland, while Polish firms face an uncertain licensing path domestically, creating regulatory asymmetry that critics say favors non‑Polish entities.

Industry voices; Kanga Exchange and Zonda Crypto officials stress that they have prepared alternative jurisdictional strategies to continue operations, signaling a counter-play to uncertain domestic rules.

Polish economist Krzysztof Piech is reportedly drafting a crypto-friendly MiCA implementation bill, signaling ongoing legislative experimentation as the debate unfolds.

Tickers mentioned: $COIN

Sentiment: Neutral

Market context: The MiCA transition is unfolding across the EU, with a hard deadline of July 1, 2026. In Poland, the lack of a domestically enacted MiCA law has produced an uneven regulatory landscape relative to foreign players licensed under MiCA, potentially shaping market access and competitive dynamics as exchanges and fintechs plan their compliance pathways.

Why it matters

The veto spotlights a central tension in Poland’s crypto policy: how to reconcile domestic rules with a broad EU framework that aims to standardize oversight across member states. The KNF’s warning—that Poland has not designated a competent supervisory authority—adds urgency to this debate, because MiCA enforcement hinges on clear national governance. Without a designated authority, Polish platforms could confront delays or regulatory uncertainty that complicate onboarding processes for new products, licensing, and cross-border operations. The absence of a robust national regime also risks creating a regulatory mismatch with foreign firms that secure MiCA licenses outside Poland, then passport services back into the country.

Industry players have signaled they anticipated the possibility of delays and adapted accordingly. Sławek Zawadzki, co-CEO of Kanga Exchange, emphasized that the group had prepared alternative jurisdictional solutions from the outset, should Polish law fall behind the EU timetable. He stressed that this approach was preemptive rather than reactive, as regulatory clarity remained the ultimate objective. The sentiment inside the industry reflects a broader push to attract innovation while avoiding onerous rules that could curb growth. The situation also has implications for smaller Polish operators, some of whom may struggle if licensing avenues within Poland remain uncertain or blocked for an extended period.

Meanwhile, the debate has drawn political attention from figures who view the current drafts as too heavy-handed. Tomasz Mentzen has publicly criticized the proposed measures as excessive regulation that could stifle the sector, highlighting a political fault line over how to nurture crypto entrepreneurship while protecting consumers. In the wake of Nawrocki’s veto, some observers are pushing for a more crypto-friendly approach that retains EU alignment but tailors compliance to Poland’s market realities.

The broader EU context remains in focus. The MiCA framework aims to harmonize licensing, consumer protections, and market surveillance across member states, potentially enabling cross-border service provision and easier access for crypto firms willing to operate under EU rules. Yet the Polish episode illustrates how national prerogatives, industry interests, and regulatory sequencing can complicate the transition, particularly for domestic businesses that have long operated outside the European licensing regime. A foreign operator such as Coinbase, for instance, has already expanded operations in Poland after securing a MiCA license elsewhere in the EU, a move that underscores the regulatory asymmetry highlighted by Polish executives. Coinbase (EXCHANGE: COIN) is a notable example of how companies leverage EU licensing to access Polish markets, while domestic players seek a similar doorway that remains blocked by the absence of a Polish MiCA implementing law.

As the debate evolves, Piech’s reported draft could offer a path forward. The economist indicated on social media that a crypto-friendly MiCA implementation bill is in the final stages of preparation, signaling that policy makers are considering alternatives that could balance EU standards with domestic industry needs. The outcome will influence not only Polish exchanges but also the broader ecosystem of wallets, DeFi projects, and custody providers seeking regulatory clarity in Poland as they plan product launches and capital formation strategies.

In short, the veto does not end the MiCA adaptation conversation in Poland; it reframes the terms of the debate and compounds the incentives for faster, clearer, and more pragmatic regulation that can support innovation while maintaining consumer protections.

What to watch next

Dispatch of a new Polish MiCA proposal or revised framework from lawmakers in the coming months.

Any designation of a national competent authority for crypto market supervision and the associated implementing rules.

Actions by Polish exchanges and fintechs evaluating licensing pathways outside Poland, including passporting possibilities under MiCA.

Further public statements from KNF and the president’s office clarifying timelines and expectations for compliance.

Sources & verification

KNF announcement outlining the lack of a designated competent authority and MiCA deadlines.

Statement from President Nawrocki regarding the veto and his critique of the bills as “wrong law.”

Bill 2064 text and related Sejm records detailing the legislative path and prior vetoes (Bill 1424).

Reports on Coinbase expanding operations in Poland and securing a MiCA license in Luxembourg in 2025.

Public remarks from Kanga Exchange’s Sławek Zawadzki about alternative jurisdictional strategies and the impact on Polish firms.

Polish economist Krzysztof Piech’s discussion of a crypto-friendly MiCA implementation bill draft.

Poland’s MiCA standoff shapes a critical summer for crypto regulation

The ongoing impasse surrounding Poland’s implementation of MiCA illustrates how national political dynamics can slow the adoption of a unified EU regime. Nawrocki’s veto signals a preference for tightly scoped, industry-friendly regulations that avoid overburdening participants in Poland’s crypto market, even as EU-wide transitions press ahead. The KNF’s warning about the absence of a designated supervisory body crystallizes the operational risk for exchanges that must navigate both Polish expectations and EU-level standards. In practice, foreign operators licensed under MiCA may enjoy a smoother entry into Poland than purely domestic firms, a situation that could influence investment decisions, product development, and the competitive landscape in the near term.

As industry leaders recalibrate, Piech’s forthcoming draft could provide a viable compromise—one that preserves MiCA’s core protections while offering a regulatory path tailored to Poland’s market structure. In parallel, the market will be watching for concrete steps from the government and supervisory authorities that clarify licensing routes and supervisory responsibilities, a move that could unlock new liquidity channels and support for innovation in the Polish crypto ecosystem. The summer period will thus be pivotal for investors, founders, and operators seeking stability, certainty, and alignment with Europe’s broader regulatory architecture.

This article was originally published as Poland President Again Vetoes MiCA, Crypto Firms Seek Licenses Abroad on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Key Takeaways:

Cardano founder Charles Hoskinson, says crypto market fatigue is widespread as retail investor participation in the top 100 coins has dropped over 30% since the 2021 peak.

He states that the decline is driven by repeated boom-and-bust cycles, high-profile project failures,

Future growth lies in AI, privacy, and user experience: Platforms that integrate AI-driven economic agents, enhanced privacy features, and next-generation wallets are better positioned to attract and retain users while driving sustainable adoption.

At the Crypto Consensus held in Hong Kong, Charles Hoskinson says the current market has seen retail participation in major cryptocurrencies drop by more than 30% compared with the highs of 2021. Hoskinson attributes this decline to repeated boom-and-bust cycles, speculative excess, and high-profile project failures, including the collapse of notable meme coins and underperforming tokens. He also criticized the growing trend of federation in crypto, where institutional entities and centralized platforms exert influence over key network decisions. According to Hoskinson, this centralization undermines the core principle of decentralization, limits retail participation, and contributes to investor fatigue as smaller participants feel increasingly sidelined in favor of larger players.

He emphasized the growing importance of long-term infrastructure over short-term speculation. With more than 10,000 tokens in circulation today, many lack meaningful adoption or economic utility. Hoskinson argued that the era of chasing 10x returns with minimal underlying value is unsustainable. The narrative that crypto is just a financial product scheme needs to change. It’s the everything product. As such, developers and companies should prioritize systems that create tangible, long-term value, making the technology easy to use and applicable across every sphere of life, including social and political spheres. People should be able to integrate it into everyday apps and systems. 

On security, Hoskinson addressed concerns around quantum computing, noting that while these machines could challenge current encryption standards in the next 5 to 10 years, post-quantum cryptography tools already exist. He stressed that careful design and gradual adoption of these solutions will prevent a sudden systemic threat.

Governance remains a critical differentiator between blockchain networks. Hoskinson highlighted that on-chain governance models allow for faster upgrades and more resilient decision-making, often implementing changes 3–5 times faster than networks relying on informal social consensus. This speed, he said, will become increasingly important as blockchain platforms integrate with real-world applications and complex financial systems.

Finally, Hoskinson identified key areas for the next wave of innovation: AI economic agents, programmable privacy features, and next-generation wallet experiences. He envisions these tools combining with robust cryptography to create secure, user-centric platforms. While market speculation has slowed, he believes the crypto ecosystem still offers opportunities for developers and smaller players who focus on practical, infrastructure-driven solutions.

This article was originally published as Cardano Founder Charles Hoskinson Says Crypto Needs a Reset on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

New findings from TRM Labs indicate that Monero activity has remained resilient even as major exchanges pulled back on the privacy-focused token. The research shows that transaction usage in 2024 and 2025 stayed above pre-2022 levels, suggesting demand persisted despite delistings and increased compliance pressure. The Dubai International Financial Centre’s (DIFC) regulatory stance this year, which banned privacy coins on licensed platforms, underscored a widening regulatory arc around anonymity tools. Against this backdrop, the broader market has shown a complex mix of risk appetite and regulatory scrutiny as observers watch how privacy-oriented assets navigate liquidity and enforcement forces.

Key takeaways

TRM Labs reports persistent Monero activity in 2024–2025, with on-chain usage higher than pre-2022 benchmarks despite exchange constraints.

Major platforms like Binance and Kraken moved to delist or phase out Monero over compliance concerns, while Dubai’s DIFC tightened rules on privacy coins such as Monero and Zcash.

Bitcoin (CRYPTO: BTC) remains the dominant currency for real-world ransom payments, even though operators sometimes request Monero (CRYPTO: XMR) and offer discounts for it.

Darknet markets showed a notable shift in 2025, with 48% of newly launched markets reportedly supporting only Monero, a marked increase from previous years.

Monero’s Fluorine Fermi update (v0.18.4.3), released in October 2025, aims to bolster privacy and network security by refining peer selection and steering wallets toward safer nodes.

Researchers found that roughly 14–15% of Monero nodes exhibited timing and connectivity patterns that could reveal how transactions propagate, signaling network-level privacy considerations beyond on-chain cryptography.

Tickers mentioned: $BTC, $XMR, $ZEC

Market context: The privacy-coin narrative remains shaped by regulatory pushback and shifting liquidity. While on-chain privacy protocols continue to operate, platform-level delistings and country-level prohibitions are pressuring the ecosystem to adapt, even as users and operators push for greater operational privacy and alternative exchange pathways.

Why it matters

Monero’s continuing activity highlights a tension in crypto between cryptographic privacy and the realities of regulatory compliance. Even as exchanges reduce access to privacy coins, real-world demand persists among users who prize anonymity, financial sovereignty, and resilience against surveillance. The divergence between on-chain privacy guarantees and network-level visibility underlines a nuanced risk for users: even when a transaction is cryptographically shielded, the manner in which it travels through the network can still leak clues about origin and routing if nodes observe traffic patterns.

The October 2025 Fluorine Fermi upgrade signals ongoing development within the Monero ecosystem to mitigate such risks. By improving peer selection and steering wallets away from potentially compromised segments of the network, the update aims to reduce exposure to “spy nodes” that could correlate IP addresses with transaction activity. This move illustrates a proactive stance from developers to harden anonymity without compromising the protocol’s foundational cryptography.

Beyond technical improvements, the trend in darknet markets—where a growing share launched in 2025 with Monero-only support—highlights a continued demand for privacy-centric channels in illicit or quasi-illicit activity. While this fact fuels ongoing debates about the societal costs and benefits of privacy coins, it also underscores the pragmatic realities of how these tools are used in the wild. The broader policy implications are evolving as regulators balance enforcement with the need for legitimate use cases and user protections.

What to watch next

Follow any updates to the Fluorine Fermi roadmap and subsequent privacy-focused enhancements from the Monero project, including potential changes to node behavior and network-monitoring defenses.

Track regulatory developments in the Dubai DIFC and other jurisdictions, particularly any clarifications or expansions of rules governing privacy coins on licensed platforms.

Monitor darknet market dynamics for shifts in Monero-centric usage and the resilience of privacy-centric marketplaces amid enforcement pressures.

Look for independent research from analytics firms on network-layer privacy and transaction propagation to gauge evolving anonymity assumptions.

Sources & verification

TRM Labs research on Monero activity in 2024–2025, with insights into persistent usage and network-layer observations.

News coverage documenting delisting and phase-outs of Monero by major exchanges, including actions taken by Binance and Kraken.

Reports on Dubai’s DIFC ban on privacy coins such as Monero and Zcash (ZEC).

Monero’s Fluorine Fermi update (v0.18.4.3) released in October 2025, focusing on privacy and anti-spy-node measures.

Research noting that 48% of newly launched darknet markets in 2025 supported Monero-only usage.

Monero’s privacy and the evolving network landscape

Bitcoin (CRYPTO: BTC) continues to be the predominant on-ramp for ransom payments in the criminal-leaning segments of the ecosystem, even as operators occasionally request Monero (CRYPTO: XMR) and offer discounts for it. The usage data from 2024 and 2025, which stayed above pre-2022 levels, suggests that demand for privacy-preserving tools has not receded in the face of platform restrictions. Several exchanges that previously hosted Monero—such as Binance and Kraken—took steps to delist or phase out the coin, reflecting a tightening regulatory regime and a preference for compliance-driven asset lists. In parallel, Dubai’s DIFC moved to ban privacy coins on licensed platforms, reinforcing the cross-border complexity of privacy technologies’ compliance landscape. Zcash (CRYPTO: ZEC), another privacy-oriented coin, faced similar regulatory scrutiny in the same environment.

On the supply and usage side, the darknet ecosystem appears to be reinforcing the monetization of privacy tools. Data shows that nearly half of the darknet markets launched in 2025 supported only Monero, suggesting that privacy-centric rails remain attractive for dark market operators and participants despite broader enforcement actions elsewhere. This trend occurs even as the on-chain cryptography of Monero remains robust; observers warn that network-level observations—how transactions propagate across nodes—can still expose information about origin, timing, and routing paths. About 14%–15% of Monero nodes exhibited atypical timing and connectivity patterns, a signal that some participants may run numerous connected nodes to map propagation paths. While this does not imply a breach of Monero’s cryptography, it raises questions about how much anonymity can be preserved in practice when network visibility is visible to watchful observers.

The response from the Monero project has been to bolster defenses at the network level. The Fluorine Fermi release introduced a more selective peer-management approach, steering wallets away from suspicious nodes and toward safer parts of the network. This update is part of a broader effort to reduce the feasibility of linking transactions to IP addresses via node observation, an area that has grown more salient since reports of surveillance-capable nodes circulated in 2024. Taken together, the developments signal a pragmatic approach: maintain strong cryptographic privacy while acknowledging and addressing potential leaks at the network layer. The ongoing dialogue among researchers, practitioners, and policymakers will shape how privacy-focused assets like Monero navigate compliance, user protections, and market demand in the coming years.

This article was originally published as Monero Use Persists Despite Delistings as Darknet Markets Move to XMR on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

SBI Holdings, the Tokyo-listed financial group, is intensifying its crypto play by pursuing a controlling stake in Singapore-based Coinhako. Through its wholly owned subsidiary SBI Ventures Asset, SBI signed a nonbinding letter of intent with Holdbuild, Coinhako’s parent company, to inject capital and acquire shares from existing investors. If the deal moves forward, SBI would secure a majority stake and Coinhako would become a consolidated subsidiary, subject to regulatory approvals. Financial terms were not disclosed, and the investment structure remains under discussion. The proposal signals SBI’s broader ambition to build international digital-asset infrastructure beyond a single trading platform, including ventures in tokenized securities and stablecoins.

Chairman and CEO Yoshitaka Kitao framed the development as part of a larger strategy rather than a mere acquisition. He underscored Coinhako as a building block in SBI’s plan to create cross-border rails for digital assets, aligning with efforts to expand tokenized securities, settlement networks, and regulated stablecoins across Asia-Pacific. The Singapore base would offer a licensed footprint in one of the region’s most regulated crypto hubs, potentially smoothing the path for SBI’s foreign-market expansion.

Coinhako, founded in Singapore, operates a regional digital-asset trading platform and related services through Hako Technology, which is licensed by the Monetary Authority of Singapore as a Major Payment Institution. The group also runs Alpha Hako, a virtual asset service provider registered with the British Virgin Islands Financial Services Commission. The exchange’s trajectory has included SBI’s involvement in 2021 via the SBI-Sygnum-Azimut Digital Asset Opportunity Fund, a vehicle that signaled SBI’s willingness to co-invest with established crypto and traditional-finance partners.

Yusho Liu, Coinhako’s co-founder and CEO, framed the alliance as a pathway to scale institutional-grade systems. He emphasized that the partnership would address rising demand for tokenized assets and stablecoins while reinforcing Singapore’s role as a linchpin of the world’s next-generation financial system. The collaboration is seen as a catalyst for deeper liquidity, more robust custody tools, and scalable settlement workflows that could attract regulated participants seeking compliant, cross-border rails.

For SBI, the potential consolidation of Coinhako dovetails with a long-running strategy to broaden its blockchain footprint. The group has pursued tokenization initiatives, payment networks, and other crypto-related businesses for several years. In December 2025, SBI partnered with Startale Group to develop a fully regulated Japanese yen-denominated stablecoin aimed at tokenized asset markets and cross-border settlement, with issuance and redemption handled by Shinsei Trust & Banking and circulation supported by SBI VC Trade, SBI’s own crypto exchange. Earlier in 2025, SBI Group joined forces with Chainlink to build digital-asset tools for financial institutions in Japan and across the Asia-Pacific region. Taken together, these moves illustrate SBI’s intent to connect traditional finance with crypto-native capabilities—spanning custody, liquidity, and programmable settlement rails.

The announcement comes at a time when Singapore’s regulatory framework continues to attract and shape institutional crypto activity. By seeking a licensed base in Singapore, SBI would align with a jurisdiction that has sought to balance innovation with consumer protections and market integrity. The nonbinding nature of the LOI means terms could evolve, and the ultimate path to a definitive agreement will hinge on regulatory scrutiny and the willingness of both sides to align on governance, integration, and capital deployment. The Coinhako deal, if consummated, would place a notable cross-border asset under SBI’s umbrella, potentially accelerating the bank’s ability to service institutional clients seeking regulated access to tokenized assets and stablecoins in Asia’s evolving ecosystem.

Industry observers will watch closely how the transaction might influence Coinhako’s roadmap. A successful consolidation could enable deeper institutional onboarding, more rigorous risk-management protocols, and a broader product set that leverages SBI’s capital, technology, and network—potentially including enhanced liquidity provisioning, custody enhancements, and more formalized cross-border settlement rails. Yet the deal also poses questions about regulatory approvals, competition in Singapore’s exchange landscape, and how a larger SBI-backed entity would interact with local incumbents and market entrants. As with many cross-border crypto ventures, execution risk centers on navigating a complex regulatory matrix and aligning strategic priorities across jurisdictions.

Beyond Coinhako, SBI’s broader blockchain push signals a continuing appetite among major financial groups to blend traditional finance with crypto-native capabilities. The yen-stablecoin initiative with Startale, the Chainlink collaboration, and other partnerships indicate a deliberate roadmap toward tokenized markets, regulated stablecoins, and interoperable networks that can support tokenized securities, digital cash equivalents, and cross-border settlement. If the Coinhako talks crystallize into a binding deal, SBI could gain a foothold in Singapore’s regulated crypto infrastructure, potentially serving as a gateway for further collaborations, licenses, and product launches across the region. The coming months are likely to reveal whether these strategic threads converge into a cohesive, long-term platform strategy or remain a portfolio of exploratory projects that complement SBI’s core banking and payments businesses.

Key takeaways

SBI Holdings’ subsidiary SBI Ventures Asset signed a nonbinding letter of intent to inject capital into Coinhako and acquire shares from existing investors, potentially giving SBI a majority stake and making Coinhako a consolidated subsidiary pending approvals.

The terms of the arrangement were not disclosed, and the deal structure remains under discussion, subject to regulatory clearance.

Coinhako operates a MAS-licensed trading platform in Singapore, with additional services via Alpha Hako in the British Virgin Islands; the exchange has previously attracted SBI investment.

CEO Yusho Liu described the partnership as a path to scale institutional-grade systems to meet demand for tokenized assets and stablecoins, reinforcing Singapore’s role in the future financial system.

SBI’s broader blockchain initiatives—yen-stablecoin development with Startale and digital-asset tools with Chainlink—underscore the group’s aim to build cross-border, regulated rails for digital assets in Asia-Pacific.

Market context: The move reflects ongoing consolidation and institutionalization of crypto activities in regulated Asia markets, with Singapore acting as a focal point for cross-border infrastructure and compliant product suites. Regulatory approvals will shape the timeline and scope of any definitive agreement, while the broader market trend toward tokenized assets and stablecoins provides a backdrop for SBI’s expansion strategy.

Why it matters

The potential consolidation of Coinhako under SBI would extend SBI’s footprint beyond traditional financial services into a regulated, cross-border crypto platform. If completed, the transaction could accelerate Coinhako’s ability to scale institutional-grade operations, offering more robust custody, liquidity, and integration with SBI’s broader payments and tokenization programs. The arrangement also signals how large financial groups view regulated hubs like Singapore as launchpads for cross-border crypto activity, not just as regional trading venues but as gateways to tokenized markets across Asia-Pacific.

For Coinhako, the deal could bring additional capital, governance expertise, and access to a global network of financial partners, potentially speeding up product development and regulatory compliance improvements. For Singapore, the move reinforces the city-state’s standing as a regulated center for digital assets, encouraging more collaboration between traditional financial institutions and crypto-native platforms while maintaining stringent oversight to protect market integrity.

From a broader market perspective, SBI’s actions—coupled with its yen-stablecoin initiative and Chainlink collaboration—illustrate a trend among traditional financiers to build multi-faceted ecosystems that blend tokenized assets with regulated stablecoins and cross-border settlement workflows. This could influence how other regional players structure partnerships, custody solutions, and liquidity access as demand for regulated, scalable crypto infrastructure continues to rise.

What to watch next

Definitive agreement: Sign-off on a binding agreement and disclosure of terms, subject to regulatory approvals.

Regulatory review: MAS scrutiny and any conditions placed on a potential consolidation and cross-border activities.

Structural details: Governance, board representation, and integration plans for Coinhako within SBI’s corporate umbrella.

Product roadmap: Any announced additions to Coinhako’s platform, including tokenized assets or stablecoin-related services linked to SBI’s ecosystem.

Follow-up disclosures: Additional statements from SBI, Holdbuild, or Coinhako regarding timelines, milestones, or financing rounds.

Sources & verification

SBI Holdings announces a nonbinding LOI to acquire Coinhako via a press release (pdf): https://www.sbigroup.co.jp/english/news/pdf/2026/0213_a_en.pdf

Coinhako’s previous SBI investment described in a Cointelegraph article: https://cointelegraph.com/news/sbi-holdings-invests-in-singapore-crypto-exchange-coinhako

Startale and SBI yen-stablecoin collaboration mentioned in Cointelegraph: https://cointelegraph.com/news/japan-sbi-and-startale-plan-regulated-yen-stablecoin-in-2026-under-new-framework

SBI Group’s Chainlink partnership to build digital asset tools for APAC: https://cointelegraph.com/news/sbi-group-partners-chainlink-crypto-asia-finance-market

Background discussion on Asia-Middle East corridor and permissioned-scale approaches: https://cointelegraph.com/news/future-crypto-asia-middle-east-corridor-lies-in-permissioned-scale

SBI bid to anchor Coinhako: implications and next steps

This article was originally published as SBI Holdings Eyes Majority Stake in Singapore-based Coinhako on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

A cross-border snapshot from BVNK and YouGov shows stablecoins moving from niche crypto wallets into mainstream payroll and everyday spend. The online survey, conducted in September and October 2025 among 4,658 adults who currently hold or plan to acquire cryptocurrency across 15 countries, reveals a broad willingness to use dollar- and euro-pegged coins for earnings, remittances, and purchases. Key findings include that 39% already receive income in stablecoins, 27% use them for daily payments, and average holdings sit around $200 globally, rising to roughly $1,000 in higher-income economies. The data also suggests strong demand for wallet access via banks or fintechs and for linked debit card usage.

Key takeaways

39% of survey respondents report earning income in stablecoins, with 27% using stablecoins for everyday transactions, highlighting a shift from speculative trading to functional payroll utilities.

Respondents hold an average of about $200 in stablecoins worldwide, while holdings in high-income economies average near $1,000, indicating material savings potential for more affluent users.

77% would consider opening a stablecoin wallet with their primary bank or fintech provider, and 71% express interest in a linked debit card to spend stablecoins, signaling traditional financial institutions’ potential pivotal role.

People receiving stablecoin income report that stablecoins constitute roughly 35% of their annual earnings on average; cross-border transfers with stablecoins save about 40% in fees compared with traditional remittance methods.

Ownership is highest in lower- and middle-income economies, with Africa showing the strongest uptake at 79%, underscoring a regional tilt toward cost-effective digital payments.

Market context: The findings arrive during a wave of regulatory attention and enterprise adoption around stablecoins. In the United States, the GENIUS Act is shaping the policy debate on stablecoins and embedded finance, while Europe’s Markets in Crypto-Assets Regulation (MiCA) is catalyzing compliance-driven use cases for wages and cross-border settlements. Meanwhile, the stablecoin market has surged to roughly $307.8 billion in total value, up from around $260.4 billion in mid-2024, underscoring growing scale and willingness to use digital currencies for non-speculative purposes.

A BVNK spokesperson emphasized that the study was designed to illuminate usage patterns among current and prospective crypto users rather than measure broad population adoption. The respondents tend to diversify across multiple dollar- and euro-pegged stablecoins rather than relying on a single issuer, suggesting a preference for multi-token liquidity management. When it comes to where to manage these assets, exchanges are favored by 46% of respondents, followed by crypto-enabled payment apps (like PayPal or Venmo) at 40% and mobile wallet apps at 39%. Only a minority—13%—prefer hardware wallets for custody.

BVNK, a London-headquartered company founded in 2021, built its business around stablecoin-enabled payments infrastructure for enterprises. In June, it partnered with San Francisco-based Highnote to introduce stablecoin-based funding for embedded-finance card programs, signaling a broader push to integrate digital assets into everyday financial services. The collaboration aims to streamline funding flows for card programs that rely on stablecoins as a settlement medium, reducing friction for merchants and employers alike.

An ecosystem narrative is emerging around payroll and cross-border payments. In the United States, the GENIUS Act has accelerated discussions about how payrolls can be paid with digital assets within a regulated framework, while Europe’s MiCA framework pushes providers toward transparent disclosures and robust consumer protections. The combination of regulatory clarity and corporate experimentation is accelerating the adoption of stablecoins in payroll workflows and cross-border settlements, as businesses seek faster settlement cycles and lower costs. The underlying stability of pegged coins makes them more reliable for wage payouts and reimbursements than traditional crypto assets with heightened volatility.

Beyond payroll, the market is advancing toward regulated, enterprise-grade integrations. For instance, Deel announced on Feb. 11 that it would begin offering stablecoin salary payouts through a collaboration with MoonPay, starting with workers in the United Kingdom and European Union and later expanding to the United States. Under the arrangement, employees can opt to receive part or all of their wages in stablecoins to non-custodial wallets, with MoonPay handling conversion and on-chain settlement while Deel continues to manage payroll and compliance. MoonPay has been positioned as the on-ramp for gateway conversions in this setup.

On the enterprise side, the pace of consolidation continues. Paystand recently acquired Bitwage, a platform focused on cross-border stablecoin payouts, a move that broadens Paystand’s B2B payments network for digital-asset settlements and foreign exchange capabilities. Paystand notes that its network has already processed more than $20 billion in payment volume, reflecting growing demand from businesses for stablecoin-enabled settlement and liquidity management. The deal signals that corporate back offices are increasingly viewing stablecoins as a legitimate, scalable settlement layer rather than a speculative vehicle.

While the strict price stability of stablecoins—tied 1:1 to fiat currencies such as the U.S. dollar or euro—addresses volatility concerns for payments, the research also hints at ongoing diversification. Respondents indicated a tendency to hold multiple stablecoins rather than relying on a single issuer, a pattern that could complicate compliance and liquidity management for institutions that serve as on/off ramps for ordinary users. DefiLlama’s data reinforces the point: the stablecoin sector has grown rapidly to hundreds of billions in market capitalization, underscoring that stablecoins are no longer peripheral to crypto markets but are becoming central to payment rails and cross-border transfer ecosystems.

As this secular shift unfolds, questions remain about the pace of mainstream adoption and the regulatory guardrails that will shape long-term viability. The GENIUS Act and MiCA are not just about consumer protection; they are about enabling compliant, bankable use cases for digital assets in payroll, benefits, and enterprise settlement. The rise of payroll-focused stablecoins, in particular, could help workers in regions with limited banking access and high remittance costs participate more fully in the digital economy, while offering employers a more cost-efficient and auditable method of payroll settlement.

What to watch next

Regulatory developments around the GENIUS Act and the US approach to stablecoins as payroll instruments (timeline updates and potential amendments).

Progress of Europe’s MiCA implementation and how financial institutions integrate stablecoin-based payroll and cross-border payments within the regime.

Deel’s rollout of stablecoin payroll in the UK/EU and subsequent US rollout timelines, along with adoption metrics and employee uptake.

Paystand’s continued integration of Bitwage and the broader adoption of enterprise-grade stablecoin settlement across global B2B networks.

Regional variations in stablecoin ownership, particularly in Africa and other emerging markets, and how these dynamics influence merchant acceptance and wallet adoption.

Sources & verification

BVNK-YouGov survey methodology: online fielded in September–October 2025 across 15 countries with 4,658 respondents who currently hold or plan to acquire cryptocurrency.

Survey findings on income in stablecoins, everyday use, and average holdings, including the 39%/27% figures and the $200 global average (rising to ~$1,000 in high-income economies).

Banking/fintech adoption metrics: 77% would open a stablecoin wallet with their primary bank or fintech provider; 71% interested in a linked debit card.

Enterprise movements: Deel’s stablecoin payroll pilots with MoonPay; Paystand’s acquisition of Bitwage and its impact on cross-border settlements.

Regulatory context and market size: GENIUS Act references and MiCA, along with DefiLlama’s stablecoin market capitalization data.

Stablecoins move from wallets to payroll: how a global survey maps the shift

The report’s narrative centers on a pragmatic shift in how people interact with digital assets. Stablecoins are increasingly viewed not as a speculative instrument but as a practical tool for earning, paying, and moving money across borders. In the 4,658-person sample, a substantial portion already earns in stablecoins, and a growing share uses them for routine payments. The implication for merchants is equally striking: more than half of crypto holders have made purchases specifically because a merchant accepts stablecoins, and the propensity to spend stablecoins rises to 60% in emerging markets. This suggests a feedback loop where consumer demand for stablecoin-enabled checkout can spur broader merchant adoption and, in turn, drive demand for compliant, scalable on-ramps and off-ramps.

From a banking and fintech perspective, the data hints at a possible reorientation of product design. If 77% of respondents would consider opening a stablecoin wallet with a bank or fintech and 71% want a linked debit card, incumbents may respond with regulated wallets, insured custodianship, and seamless settlement rails that reduce friction for wages and cross-border payroll. The fact that a meaningful share of earnings already comes in stablecoins points to a future where payroll providers, payroll tech platforms, and banks co-create wage ecosystems that can operate inside regulatory constraints while offering on-chain settlement where appropriate. The partnership of BVNK with Highnote to embed stablecoin funding into card programs signals how the industry is pursuing this convergence, aligning corporate cards with stablecoin liquidity as a basic building block of embedded finance.

Beyond payroll, the story touches on regulatory readiness. The GENIUS Act and MiCA collectively push the market toward standardized disclosures, consumer protections, and clear tax and accounting treatments for stablecoins used in wages and cross-border payments. In this environment, the operational and technological investments—such as Deel’s stablecoin payroll via MoonPay and Paystand’s acquisition of Bitwage—reflect a broader trend of enterprises rethinking how digital assets can underpin scalable, compliant financial operations. The data also underscores a geographic dimension: ownership and usage skew higher in Africa and other lower- and middle-income economies, suggesting that stablecoins could play a critical role in expanding financial access where traditional rails are costly or fragile.

As the market grows, so does the importance of robust, verifiable data. The DefiLlama figure placing the stablecoin market around $307.8 billion reinforces that stablecoins have transcended their early-stage, speculative perception. They are increasingly intertwined with the actual plumbing of payments—settlement, remittance, and payroll—where speed, cost, and regulatory compliance are essential. While the path to full mainstream adoption remains uneven across regions and assets, the convergence of consumer demand, enterprise infrastructure, and regulatory clarity paints a credible trajectory for stablecoins to become an integral part of everyday financial life. For stakeholders—whether individuals earning in the digital currency economy, merchants seeking lower-payment friction, or institutions building the next generation of compliant digital finance—this survey provides a map of where trust, convenience, and policy align to unlock real-world value.

This article was originally published as Stablecoins Gain Ground for Paychecks and Daily Spending, BVNK Report on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.