Market Snapshot
| Metric | Value | Change |
| Total Crypto Market Cap | $2.36T | –$1T YTD |
| Bitcoin (BTC) | ~$69,700 | +1.39% W/W |
| Ethereum (ETH) | ~$2,080 | Recovery from $1,900 midweek |
| BTC Dominance | 59.06% | – |
| Fear & Greed Index | 9 | Extreme Fear |
| BTC Spot ETF Net Flows | –$359.91M | Feb 9–13 |
| ETH Spot ETF Net Flows | –$161.15M | Feb 9–13 |
| Tokenized RWA TVL | $24.6B | All-time high |
| Stablecoin Market Cap | $300B+ | Stable |
Realized losses across the Bitcoin network spiked to magnitudes comparable to the June 2022 capitulation event. Stablecoin market capitalization held above $300 billion while total crypto market cap contracted roughly $1 trillion year-to-date signaling defensive rotation rather than full capital exit.
Funding & Deals
Notable Rounds (Feb 9–14)
| Company | Amount | Type | Sector |
| Mirae Asset → Korbit | ~$92.27M | M&A (92.06% stake) | Crypto Exchange |
| Jiuzi Holdings (JZXN) | $60M | Capital Injection | Digital Asset Treasury |
| Levl | $7M | Seed | Stablecoin Infrastructure |
| Xross Road | $1.5M | Seed | Blockchain |
Jiuzi Holdings (Nasdaq: JZXN) signed a definitive Securities Purchase Agreement on February 12 for $60 million via equivalent crypto assets, issuing 40 million ordinary shares at $1.50 per share, according to a Jiuzi Holdings SEC filing / StockTitan press release.
Early 2026 VC Trend
- $2B+ deployed into crypto projects since January 1, 2026 weekly inflows averaging above $400M
- Capital has rotated away from Layer 1s and meme tokens toward stablecoin infrastructure, custody, and RWA tokenization
- Crypto funding in January 2026: $1.46 billion, up 61% month-over-month from December 2025’s $910M
Regulation & Policy
United States
| Date | Development | Primary Source |
| Feb 13 | Treasury Secretary Bessent calls for Clarity Act passage by spring | U.S. Treasury / Senate Banking Committee hearing |
| Feb 12 | Fed publishes working paper: “Initial Margin for Crypto Currencies Risks in Uncleared Markets” | federalreserve.gov |
| Feb 12 | SEC enforcement chief addresses division priorities at LA Bar Association | SEC.gov |
| Jan 28 | SEC issues joint staff guidance on tokenized securities | SEC.gov Division of Corporation Finance |
SEC crypto enforcement actions dropped 60% year-over-year from 33 actions in 2024 to 13 in 2025. Monetary penalties against digital-asset participants totaled $142 million in 2025, under 3% of 2024’s total. The SEC and CFTC have launched a joint “Harmonization Initiative” to clarify jurisdictional boundaries for digital assets.
Europe
The European Banking Authority (EBA) issued an opinion on February 12 advising national competent authorities on how to proceed when the PSD2↔MiCA transition period ends on March 2, 2026. Since the original no-action letter in June 2025, over 100 CASPs have submitted authorization applications or approached regulators, as outlined in the EBA.europa.eu Opinion on PSD2/MiCA interplay.
India
Under the Union Budget 2026–27, the Ministry of Finance proposed amendments to Section 509, introducing daily penalties for failure to report or for inaccurate disclosure of crypto transactions. These measures will come into effect from April 1, 2026, as detailed by the Union Budget 2026–27, Ministry of Finance, Government of India.
Security & Hacks
Incidents (Feb 2–8 Recap)
| Date | Target | Loss | Root Cause |
| Feb 8 | Unknown Protocol (Ethereum) | ~$63K | Unverified input in Gnosis Safe module |
| Feb 5 | Unknown Staking Protocol (Ethereum) | ~$71.6K | Unvalidated router calldata to Pendle |
| Feb 5 | SOFI Token (BNB Chain) | ~$29.6K | Flawed burn mechanism in _transfer() |
| Feb 2 | CrossCurve (Multi-chain Bridge) | ~$3M | Weak access controls in expressExecute() |
January 2026 Security Totals
- $370.3 million stolen highest monthly total in 11 months
- 16 hacking incidents totaling $86M per PeckShield data
- Phishing scams: $311.3M of total losses; one victim lost $284M via social engineering
Emerging Threat: AI Deepfake Social Engineering
Google’s Mandiant threat intelligence team reported on February 10 that North Korea-linked actors are now using deepfake video in fake Zoom meetings to target crypto executives. Attackers impersonated known industry CEOs via AI-generated video to build trust before deploying malware under the pretense of “audio troubleshooting”.
Institutional Activity
Binance SAFU Fund → Bitcoin Conversion
Strategy (formerly MicroStrategy)
Strategy purchased 1,142 BTC for approximately $90 million at an average price of $78,815 between February 2–8, bringing total holdings to 714,644 BTC. The firm’s aggregate cost basis stands at roughly $54.4 billion, with a current market value near $49.2 billion, resulting in an unrealized loss of about $5.2 billion, per the Strategy SEC 8-K Filing.
Goldman Sachs Q4 2025 13F (Released Feb 10)
| Asset | Holding | Q/Q Change |
| Bitcoin ETFs | $1.06B (21.2M shares) | –39.4% |
| Ethereum ETFs | ~$1.0B (40.7M shares) | –27.2% |
| XRP ETFs | $152.2M | New position |
| Solana ETFs | $108.9M | New position |
| Total Crypto | $2.36B | +15% Q/Q |
Goldman Sachs reduced its BTC and ETH positions while initiating approximately $261 million in exposure across XRP and Solana ETF products, according to Goldman Sachs Form 13F SEC EDGAR, bringing its total crypto exposure to around 0.33% of the reported portfolio.
Trump Media ETF Filings (Feb 13)
Truth Social Funds filed an SEC registration for two crypto ETFs a Bitcoin & Ether fund with a 60/40 allocation and a Cronos Yield Maximizer ETF targeting CRO staking according to the SEC EDGAR Truth Social Funds registration statement, with fees set at approximately 0.95%.
DeFi & Protocol Updates
BlackRock BUIDL on UniswapX
BlackRock’s $2.4B tokenized USD Institutional Digital Liquidity Fund (BUIDL) went live on UniswapX on February 11, enabling whitelisted institutional investors to swap BUIDL shares against USDC 24/7 via smart contracts. The launch was highlighted via Uniswap Labs Blog, with tokenization and compliance infrastructure provided through Securitize.io, under the broader digital asset strategy of BlackRock Digital Assets.
UNI surged ~40% to $4.57 before retracing to ~$3.40, with on-chain data showing ~5.9M UNI sold near the peak by large holders.
LayerZero Announces “Zero” Blockchain
| Spec | Target |
| TPS per Zone | 2 million |
| Transaction Cost | $0.000001 |
| Architecture | Heterogeneous, ZK-proof based |
| Launch | Fall 2026 |
| Backers | Citadel Securities, ARK Invest, Tether Investments |
| Advisory Board | Cathie Wood (ARK), Michael Blaugrund (ICE), Caroline Butler (ex-BNY Mellon) |
| Collaborators | DTCC, Google Cloud, ICE |
Aave DAO Revenue Proposal
Aave Labs proposed on February 12 to route 100% of product revenue to the DAO treasury under Aave V4, with an estimated 8–12 month migration timeline. The proposal, discussed on the Aave Governance Forum, also included a $50 million token request, representing 31.5% of the DAO treasury, which sparked significant debate among governance participants.
BIP 360: Bitcoin Post-Quantum Defense
BIP 360 was merged into the official Bitcoin BIPs GitHub Repository on February 13, introducing a draft Pay-to-Merkle-Root (P2MR) output type. CoinShares estimates that 10,230 BTC currently face near-term quantum risk, while Taproot address market share has already declined sharply from 54% to 22%.
Other Notable Events
| Event | Key Data |
| AI.com Super Bowl Debut | CEO purchased domain for $70M in crypto largest domain-only sale in history. Campaign cost: ~$85M. Site crashed post-broadcast |
| Token Unlocks | Aptos: 11.31M APT ($12.07M) on Feb 10; Avalanche: 0.67M AVAX ($15.13M); Connex: 1.32M CONX on Feb 15 |
| Coinbase Q4 2025 | $667M net loss; revenue ~$1.78B |
| Robinhood Q4 2025 | Crypto revenue down ~38% YoY to ~$221M; shares fell ~11.5% post-earnings |
Weekly Top Movers
| Gainers | % | Losers | % |
| pippin (PIPPIN) | +230.27% | MemeCore (M) | –17.23% |
| Humanity Protocol (H) | +56.62% | Aptos (APT) | –12.61% |
| Zcash (ZEC) | +23.54% | Bitget Token (BGB) | –10.54% |
| Bittensor (TAO) | +22.71% | Jupiter (JUP) | –3.70% |
| Hedera (HBAR) | +16.67% | Hyperliquid (HYPE) | –3.61% |
Top Trending (Markets & Institutional)
Bitcoin’s rebound attempts faded as volatility stayed elevated
Bitcoin spent the week oscillating in a tight but nervous range, repeatedly failing to hold breakouts as macro risk sentiment and deleveraging pressure continued to shape flows. Data circulating in ETF flow dashboards showed sharp day-to-day swings around Feb 10–12, underscoring how quickly “risk-on” appetite flipped back to “risk-off” positioning.
Corporate Bitcoin accumulation stayed in the spotlight
Strategy (formerly MicroStrategy) disclosed it acquired 1,142 BTC for about $90 million, bringing total holdings to 714,644 BTC as of Feb 8, 2026. The company reported an aggregate purchase price of $54.35 billion and an average purchase price of $76,056 per BTC.
Biggest & Very Important (Regulation)
Europe set a March 2 deadline that could reshape stablecoin “payment” rails
The European Banking Authority (EBA) published an Opinion advising national regulators what to do when the PSD2–MiCA transition period ends on 2 March 2026. The EBA told regulators to allow certain crypto-asset service providers to continue providing electronic money token (EMT) services that qualify as payment services only under specified conditions, and to require others to cease those EMT payment-service activities and offboard affected clients.
U.S. Treasury pushed for a federal crypto market structure bill by spring
In Washington, Treasury Secretary Scott Bessent urged Congress to pass the proposed “Clarity Act” and send it to the President for signature by spring 2026, arguing it would stabilize expectations during a period of market turbulence. (No outbound link here per your “no crypto news site links” rule.)
Florida advanced a payment-stablecoin framework at state level
A Florida Senate bill analysis outlined a payment stablecoin framework that would require the state Office of Financial Regulation to certify compliance with federal review mechanisms and align state rules on capital/liquidity/risk management with the federal GENIUS Act framework.
Hacks, Breaches & Safety
Figure confirmed a breach after an employee-account compromise; stolen data was posted
Figure confirmed a data breach after attackers gained access via an employee account and exfiltrated files; the ShinyHunters group claimed responsibility and published 2.5GB of allegedly stolen data, including customer PII (names, addresses, birth dates, phone numbers).
Dormant exploit funds moved again: Mixin hack-linked ETH activity resurfaced
On-chain monitoring flagged that 2,005 ETH tied to the 2023 Mixin hack moved and was routed toward Tornado Cash-linked activity, highlighting the long tail of laundering risk even years after major incidents.
Exchanges & Industry Operations
Bithumb faced regulatory scrutiny after a major internal-controls failure
South Korea’s Bithumb acknowledged internal system weaknesses after an incident that lawmakers and regulators examined publicly, with Reuters reporting that system flaws enabled an erroneous event tied to a promotional payout process and a localized price shock.
Binance scheduled removals of select spot trading pairs
Binance said it would remove and cease trading certain spot pairs effective Feb 13, 2026 (08:00 UTC) as part of its periodic reviews.
Filings / Product Launches
Truth Social Funds announced it filed a registration statement for two proposed ETFs: the Truth Social Cronos Yield Maximizer ETF and the Truth Social Bitcoin and Ether ETF, with Crypto expected to provide custody, liquidity, and staking services subject to regulatory approval; the release cited a 0.95% management fee.
