Blockonomi

TLDR:

Rezervy Tetheru na burze klesly z 60 miliard dolarů na 51,1 miliardy dolarů, což představuje odtok 9 miliard dolarů v likviditě za pouhé dva měsíce.

Úroveň 50 miliard dolarů USDT je nyní kritickou podporou; proražení by mohlo posunout rezervy směrem k hranici 44 miliard dolarů.

Počet aktivních on-chain adres prudce klesl z 376 000 na 263 000, což potvrzuje oslabení maloobchodní a institucionální aktivity.

CryptoQuant varuje, že bez stabilizace stablecoinů a návratu účastníků je pravděpodobné, že bolest na trhu bude pokračovat.

Likvidita na trhu s kryptoměnami se zmenšuje tempem, které uvedlo analytiky a obchodníky do vysoké pohotovosti. Rezervy Tetheru na burze klesly z 60 miliard dolarů na 51,1 miliardy dolarů za pouhé dva měsíce.

TLDR:

Dragonfly Capital launched a $650M Fund IV, bringing total assets under management to approximately $4 billion.

Co-founder Qureshi credits geographic arbitrage between Asia and the US as the firm’s earliest competitive edge.

Dragonfly avoided trending crypto deals like Terra and Axie, instead backing Ethena and Polymarket at low-interest periods.

Qureshi argues that non-consensus investments drive the majority of venture returns, making contrarian discipline essential.

Dragonfly Fund IV, a $650 million crypto venture capital fund, has officially launched amid widespread skepticism about the industry.

Dragonfly Capital now manages approximately $4 billion in assets across offices in New York, San Francisco, and Singapore, with around 45 staff members.

Co-founder Haseeb Qureshi recently shared a detailed account of the lessons behind building the firm, offering rare transparency into the mechanics of crypto venture capital.

Starting From Zero: Reputation and Finding a Niche

Dragonfly Fund IV’s story begins long before the launch announcement. Qureshi entered crypto in 2018, just as the ICO bubble collapsed and most participants were exiting the space.

He later partnered with Bo to launch Dragonfly Capital at a time when dominant players like Polychain, Pantera, and a16z controlled the market.

According to Qureshi, first-time fund managers must stake their personal reputation to get started. He wrote that raising from friends, former bosses, and wealthy connections is non-negotiable for a debut fund. Without putting everything on the line, he argued, there is little to no chance of success.

The firm’s early edge was a geographic arbitrage strategy. Qureshi was based in the United States while his partner, Bo operated in Asia.

This east-meets-west positioning helped Dragonfly earn allocations in early rounds, even without leading deals. The approach was demanding, requiring long hours and constant coordination across time zones.

Talent Management and Brand Building as Competitive Advantages

As Dragonfly grew, Qureshi identified talent retention as a major differentiator. He noted that VC firms are notoriously poor at corporate management, including basic practices like mentorship, clear responsibilities, and open communication. Poor management often goes unaddressed because power law returns mask internal dysfunction.

Dragonfly took a different path. The firm invested in giving junior team members stability, voice, and independence.

Qureshi credited this approach for helping retain people who could have joined larger platforms. Over time, those individuals became central to the firm’s performance.

Brand distribution was another focus area. Qureshi stressed that every team member should build a personal audience. He encouraged public writing, social media presence, and individual thought leadership.

Firms that discourage employees from engaging publicly, he wrote, are making a strategic error.

Investment Philosophy: Non-Consensus Bets and Long-Term Discipline

On investment strategy, Qureshi outlined a clear framework. Most returns in venture come from a small number of deals, often just two or three per fund. He pointed out that consensus deals are usually overpriced, leaving little room for outsized returns.

Dragonfly’s biggest wins came from avoiding popular trends. The firm passed on Terra, Axie Infinity, and Yuga Labs during their peaks.

Instead, it backed Ethena shortly after the Terra collapse and invested in Polymarket before the 2024 election cycle drew mainstream attention.

Hsseeb wrote on X: “Every cycle has a narrative that feels irresistible…most of those themes turn out to be a waste of money.” He tied this discipline directly to portfolio construction, warning that trend-following produces a portfolio of “what was popular 18 months ago.”

Qureshi also addressed fundraising timing, noting that the best window to raise capital rarely aligns with the best time to deploy it. Managing that tension, he concluded, is one of the defining skills in venture.

The post Dragonfly Launches $650M Fund IV as Co-Founder Reveals the Blueprint Behind Building a Crypto VC Firm appeared first on Blockonomi.

TLDR:

The OCC proposed a regulatory framework for payment stablecoin issuers under the GENIUS Act with a 60-day comment window.

BSA, AML, and OFAC sanctions rules are excluded from this proposal and will be addressed in a separate Treasury rulemaking.

Stablecoin transfer volume topped $10 trillion in January 2026, the highest recorded level since April 2022 on-chain activity.

Over 200 stablecoins across 37 chains now carry a combined market cap exceeding $320 billion, per Dune Analytics data.

Payment stablecoins are now at the center of a major U.S. regulatory push. The Office of the Comptroller of the Currency (OCC) has issued a proposed rulemaking under the GENIUS Act.

The proposal covers regulations for permitted stablecoin issuers within the OCC jurisdiction. It also addresses foreign issuers and custody activities by OCC-supervised entities.

Public comments are open for 60 days after Federal Register publication.

Stablecoins represent a legally permissible new payment tool. The OCC invites comments on a proposed regulatory framework for payment stablecoins pursuant to the GENIUS Act. More info at https://t.co/fbADAxqP2N. pic.twitter.com/gfwt6AtN7u

— OCC (@USOCC) February 25, 2026

OCC Sets the Scope of Its Proposed Rule

The proposed rule addresses most regulations the OCC must issue under the GENIUS Act. However, it does not cover Bank Secrecy Act or Anti-Money Laundering requirements.

Those areas will be handled in a separate rulemaking with the Department of the Treasury. The OCC confirmed it will coordinate with all relevant agencies throughout the process.

Comptroller Jonathan V. Gould spoke directly about the agency’s approach to the proposal. He stated, “The OCC has given thoughtful consideration to a proposed regulatory framework in which the stablecoin industry can flourish in a safe and sound manner.”

He further added, “We welcome feedback on the proposal to inform a final rule that is effective, practical and reflects broad industry perspective.” Gould also noted the OCC will keep working to provide regulated entities with more ways to serve customers and communities.

The proposed rule applies to both domestic and foreign payment stablecoin issuers equally. It also reaches custody activities conducted by OCC-supervised entities.

This broad coverage shows a clear intent to regulate a wide range of market participants. The OCC wants regulated entities to have more ways to serve their customers and communities.

The agency will continue working to fully implement the GENIUS Act going forward. It will also maintain close coordination with other federal agencies involved in the effort.

The public comment period offers stakeholders a formal channel to share concerns. Those responses will directly inform the structure of the final rule.

Stablecoin Market Growth Adds Urgency to New Rules

The stablecoin market has seen strong growth leading into this regulatory moment. Data from Dune Analytics tracks over 200 stablecoins across 37 different blockchain networks.

Total market capitalization has now exceeded $320 billion. That figure reflects how deeply stablecoins have embedded themselves in digital finance.

In January 2026, stablecoin transfer volume surpassed $10 trillion for the month. That marks the highest transfer activity recorded since April 2022.

Dune data shows over 200 trackable stablecoins across 37 chains, with total market cap above $320B. In January 2026, stablecoin transfer volume exceeded $10T, the highest since April 2022, with 56% of activity from DEX liquidity pools. CEXs hold about $80 billion in stablecoins,…

— Wu Blockchain (@WuBlockchain) February 25, 2026

Around 56% of that volume came from decentralized exchange liquidity pools. This shows the scale of on-chain stablecoin usage well beyond centralized platforms.

Centralized exchanges hold approximately $80 billion in stablecoins currently. That places them as the largest category among labeled on-chain addresses.

The data points to growing reliance on stablecoins across both retail and institutional segments. It also shows why a clear and workable framework has become a pressing need.

The proposed rule arrives as stablecoin adoption reaches a measurable high point. Market participants now have 60 days to formally submit their comments to the OCC.

Those responses will shape the final regulatory direction for payment stablecoins. The industry and regulators alike are now moving in the same direction.

 

The post OCC Proposes Regulatory Framework for Payment Stablecoins Under the GENIUS Act appeared first on Blockonomi.

TLDR:

Prevalon Energy added STRC to its treasury focusing on capital preservation, liquidity, and long-term financial discipline.

Anchorage Digital holds STRC on its balance sheet, aligning its capital with Strategy’s institutional Bitcoin framework.

Both companies conducted independent evaluations through their own management teams and boards before allocating STRC.

Strategy’s STRC offers an 11.25% annual dividend paid monthly, designed for stable price dynamics in corporate treasuries.

Prevalon Energy and Anchorage Digital have publicly announced their allocations of STRC to their corporate treasuries. The disclosures were made during Strategy World 2026 in Las Vegas.

Both companies presented during the “Bitcoin for Corporations” track at the conference. Each firm conducted an independent evaluation before committing to the allocation.

The announcements were made on behalf of Strategy Inc., listed on Nasdaq under tickers including STRC, MSTR, STRF, STRK, and STRD.

Yesterday, Prevalon Energy and @Anchorage announced live during the "Bitcoin for Corporations" track at Strategy World that they have added $STRC to their corporate treasuries. https://t.co/NKDgFKDGFZ

— Strategy (@Strategy) February 25, 2026

Prevalon Energy and Anchorage Digital Step Forward With Independent Treasury Decisions

Prevalon Energy’s CFO, Benjamin Hunnewell, made the formal announcement on behalf of the company. He confirmed that Prevalon added STRC to its treasury as part of a broader capital management strategy.

Hunnewell stated, “As Prevalon continues to scale globally, we remain focused on maintaining a strong and flexible balance sheet.” He added that after evaluating a range of treasury alternatives, STRC aligned best with the company’s objectives.

Anchorage Digital’s Head of Prime Sales, Manuel Andreani, disclosed the firm’s STRC position during his presentation.

Nathan McCauley, Co-Founder and CEO of Anchorage Digital, further elaborated on the rationale behind the move.

McCauley said, “Institutions don’t adopt Bitcoin on conviction alone; they adopt it through structure and disciplined capital management.” He noted that holding STRC aligns Anchorage’s capital with Strategy’s institutional framework.

Both companies stressed that their evaluations were conducted independently by their own management teams and boards. Neither firm’s decision was influenced by the other’s allocation.

The separate reviews point to a shared conclusion reached through distinct internal processes. This adds credibility to STRC as a treasury instrument appealing across different corporate profiles.

Strategy CEO Phong Le responded to the announcements during the event. He described STRC as a flagship digital credit instrument built for stable price performance.

Le said, “We are encouraged to see innovative companies like Prevalon and Anchorage Digital integrate STRC into their corporate treasury strategies.” He added that the stock offers an 11.25% annual dividend distributed every month, with more institutions expected to follow.

STRC Draws Institutional Interest as a Structured Digital Credit Instrument

STRC stands for Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock. It is designed to deliver stable price dynamics alongside a consistent dividend yield.

The monthly distribution structure makes it attractive for treasury teams managing cash flow. Unlike direct Bitcoin exposure, STRC offers a structured entry point into the Bitcoin treasury ecosystem.

Anchorage Digital’s involvement carries additional weight given its position as a regulated crypto institution. McCauley noted that “the link between Bitcoin treasury strategy and regulated infrastructure becomes even more critical” as adoption accelerates.

The firm serves institutional clients and operates within a compliance-focused infrastructure. Its decision to hold STRC reinforces the connection between regulated custodians and Bitcoin-aligned treasury tools.

Prevalon Energy’s announcement broadens the conversation beyond financial and technology sectors. Hunnewell emphasized that the decision reflects Prevalon’s focus on “capital preservation, liquidity, and disciplined long-term financial management.”

Energy companies entering the digital credit space reflect a wider corporate shift in treasury thinking. Treasury diversification into instruments like STRC is gaining ground in unexpected corners of the corporate world.

Together, the two announcements at Strategy World mark a notable moment for STRC’s market visibility. The public disclosures during a major conference signal growing confidence in the instrument.

Both companies chose to go on record at a high-profile venue, lending further weight to their decisions. For Strategy, the announcements serve as real-world validation of its digital credit strategy.

The post Prevalon Energy and Anchorage Digital Back STRC as a Corporate Treasury Instrument appeared first on Blockonomi.

TLDR:

The CFTC issued a prediction markets advisory on February 25, 2026, following two Kalshi enforcement cases.

A political candidate received a five-year Kalshi ban and a $2,246.36 penalty for trading on his own candidacy.

A YouTube editor was fined $20,397.58 and suspended two years for trading on material nonpublic information.

The CFTC confirmed full federal authority to prosecute fraud, insider trading, and manipulation on any DCM platform.

The CFTC Enforcement Division issued a prediction markets advisory on February 25, 2026. The advisory came after two enforcement cases surfaced involving fraudulent trading on KalshiEX, a Designated Contract Market.

Both cases involved misuse of nonpublic information on event contracts, also known as prediction markets. The CFTC used this opportunity to remind market participants that it holds full authority to prosecute illegal trading on any DCM, including Kalshi.

CFTC Confirms Full Authority Over Prediction Market Violations

The CFTC Enforcement Division made its position clear in the advisory released this week. While Kalshi handled both cases through its internal compliance program, the Division stressed it retains independent prosecutorial power.

The agency cited multiple sections of the Commodity Exchange Act to back its authority. This move signals that federal oversight of prediction markets is becoming more active.

The Division pointed to Section 6(c)(1) of the Act as the primary legal basis for action. Regulation 180.1(a)(1) and (3) also applies, covering manipulative schemes and fraudulent conduct.

The CFTC referenced prior enforcement actions, including CFTC v. Clark, to show its track record. These citations reinforce that prediction markets are not beyond the reach of federal law.

.@CFTC Enforcement Division Issues Prediction Markets Advisory: https://t.co/2y2dabMKYK

— CFTC (@CFTC) February 25, 2026

The advisory also addressed other prohibited practices beyond insider trading. These include pre-arranged trading, wash sales, and disruptive trading under Section 4c(a).

Fraud and manipulation under various sections of the Act were also listed. The CFTC made clear these rules apply to event contracts just as they do to traditional futures markets.

The Division further noted that DCMs carry an independent duty under Section 5(d) of the Act. This includes maintaining audit trails, conducting market surveillance, and enforcing rules.

The CFTC stated it will continue coordinating with exchanges on enforcement referrals where needed.

Two Kalshi Cases Prompted the CFTC Advisory

The first case involved a political candidate who traded on his own candidacy in May 2025. Social media videos surfaced showing the trades, prompting Kalshi’s compliance team to act immediately.

The trader admitted knowing the trades were improper under Kalshi’s rules. Kalshi imposed a $2,246.36 penalty and a five-year suspension from the exchange.

The CFTC noted this conduct potentially violated prohibitions on manipulative or deceptive trading practices. The candidate’s trades represented a direct conflict of interest with the outcome of the contract.

This type of self-interested trading threatens the integrity of prediction markets. The Division made clear it could have pursued this matter independently.

The second case involved a YouTube channel editor who traded between August and September 2025. The trader placed bets on a prediction market tied to the very channel where they worked.

Kalshi investigated the unusually profitable trades and discovered the employment connection. The trader likely accessed material nonpublic information through their editorial role before videos were published.

Kalshi imposed a $20,397.58 penalty, including $5,397.58 in disgorgement and a $15,000 fine. A two-year suspension from the exchange was also handed down.

The CFTC identified this as a potential misappropriation of confidential information in breach of a duty of trust. The Division’s advisory serves as a formal warning that such conduct on prediction markets carries serious federal consequences.

The post CFTC Enforcement Division Issues Prediction Markets Advisory Following Kalshi Fraud Cases appeared first on Blockonomi.

TLDR:

Ethereum Foundation researcher Justin Drake proposed roughly seven protocol forks through 2029 on a six-month cadence.

The EF protocol team targets 1 gigagas/sec L1 throughput via zkEVMs, equating to approximately 10,000 transactions per second.

High-throughput L2 via data availability sampling aims to support up to 10 million transactions per second across Layer 2 networks.

The strawmap introduces post-quantum cryptography and native privacy-preserving ETH transfers as long-term first-class protocol goals.

Ethereum Foundation researcher Justin Drake has released a protocol document called the “strawmap,” proposed by the EF protocol team.

The plan outlines roughly seven forks through 2029, operating on a cadence of one upgrade every six months. Five long-term goals anchor the roadmap: faster L1 finality, 1 gigagas/sec throughput, high-throughput L2, post-quantum cryptography, and native privacy-preserving ETH transfers.

Drake Proposes a Six-Month Fork Cadence Through the End of the Decade

Justin Drake, a researcher at the Ethereum Foundation, put forward the strawmap as a technical coordination tool for the EF protocol team.

The document covers seven planned forks stretching from the present through 2029. It was originally drafted during an internal EF workshop held in January 2026 before being shared publicly.

Drake introduced the document on social media, writing that the strawmap is “an invitation to view L1 protocol upgrades through a holistic lens.”

Introducing strawmap, a strawman roadmap by EF Protocol.

Believe in something. Believe in an Ethereum strawmap.

Who is this for?

The document, available at strawmap[.]org, is intended for advanced readers. It is a dense and technical resource primarily for researchers,… pic.twitter.com/gIZh5I8Not

— Justin Drake (@drakefjustin) February 25, 2026

By placing all proposals on a single visual, the EF protocol team aimed to present a unified perspective on Ethereum’s long-term ambitions. The time horizon extends well beyond what All Core Devs typically covers in its near-term planning cycles.

The six-month fork cadence is central to how the EF protocol team structured the strawmap. Each fork is limited to one consensus headliner and one execution headliner to keep the pace manageable.

For example, the upcoming Glamsterdam fork features ePBS and BALs as its two headliners across the respective layers.

Fork names follow a star-based naming convention on the consensus layer, with letters incrementing from Altair onward.

Upcoming forks like Glamsterdam and Hegotá carry confirmed names, while others such as I* and J* remain placeholders.

The roadmap is publicly accessible at strawmap.org and will receive at least quarterly updates as the protocol evolves.

Five Long-Term Goals Shape the EF Protocol Team’s Technical Vision

The five north stars proposed by the EF protocol team define the technical direction through the end of the decade.

Drake described them clearly: faster L1 targeting finality in seconds, 1 gigagas/sec throughput via zkEVMs, high-throughput L2 via data availability sampling, post-quantum cryptography through hash-based schemes, and native privacy-preserving ETH transfers via shielded transactions.

Each goal connects directly to specific upgrade tracks mapped across the consensus, data, and execution layers. The gigagas target of 1 gigagas/sec translates to roughly 10,000 transactions per second on L1.

The teragas L2 goal targets 1 gigabyte per second, supporting approximately 10 million transactions per second across Layer 2 networks.

Post-quantum cryptography addresses the long-term durability of Ethereum’s security model. Hash-based cryptographic schemes are the proposed mechanism for protecting the network against future quantum computing threats. This upgrade track reflects the EF protocol team’s focus on securing Ethereum well beyond the current decade.

Native privacy through shielded ETH transfers rounds out the five goals. The strawmap treats privacy as a first-class protocol feature rather than an application-layer concern.

Drake described the document as a work-in-progress living document, not a formal prediction, but a structured path proposed by the EF protocol team for advancing Ethereum’s core infrastructure.

The post Ethereum Foundation’s Justin Drake Unveils “Strawmap” Roadmap With Seven Forks Planned Through 2029 appeared first on Blockonomi.

TLDR:

TRON Academy now partners with 12 top universities, including Oxford, Cambridge, Princeton, and Dartmouth for 2025–2026.

Student blockchain organizations across partner campuses range from over 100 to more than 2,500 active members each.

TRON DAO provides students with mentorship, technical resources, and rewards to build real-world blockchain solutions.

The initiative supports workshops and hybrid events to strengthen blockchain literacy and developer readiness globally.

TRON Academy has added four prominent institutions to its growing global academic network. Dartmouth College, Princeton University, Oxford University, and Cambridge University are the newest partners.

These additions come for the 2025–2026 academic year under TRON DAO’s ongoing education initiative. The program already includes Columbia, Harvard, Yale, MIT, Cornell, Imperial College London, and UC Berkeley.

TRON Academy equips students with blockchain resources, mentorship, and technical tools to advance Web3 development.

New Partnerships Extend TRON Academy’s Global Academic Reach

TRON DAO announced the expanded collaborations through its official channels, drawing attention across the blockchain community. The four newly added universities bring fresh geographic and intellectual diversity to the initiative.

Oxford and Cambridge represent two of the most respected academic institutions in the United Kingdom. Princeton and Dartmouth further strengthen the program’s presence across North America.

TRON announced expanded university collaborations through its TRON Academy initiative with leading academic institutions, including @Dartmouth College, Oxford University (@UniofOxford), Cambridge University (@Cambridge_Uni), and @Princeton University.

These institutions extend… pic.twitter.com/KEIJDdl4Ck

— TRON DAO (@trondao) February 25, 2026

Each new partner hosts an active student-led blockchain organization with dedicated memberships. These groups range from over 100 to more than 2,500 members per institution.

For the current academic year, TRON Academy has formalized ties with @UniofOxford and @Cambridge_Uni blockchain societies. @Princeton and @Dartmouth College complete the newest wave of additions.

TRON DAO’s Community Spokesperson Sam Elfarra addressed the expansion in an official statement. “University blockchain organizations are playing a critical role in shaping the next generation of Web3 developers and researchers,” Elfarra said.

He added, “Through TRON Academy, we are committed to providing students with access to infrastructure, mentorship, and practical learning opportunities.” These tools are designed to connect academic study directly with real blockchain innovation.

The formalized collaborations will cover workshops, educational events, and career engagement activities. Both in-person and hybrid programming formats are part of the planned structure.

Through these activities, students will build stronger blockchain literacy and developer readiness. The program is structured to create measurable outcomes across all partner campuses.

TRON Academy Connects Emerging Talent to Decentralized System Development

The expansion comes as leading universities increasingly integrate blockchain and emerging technologies into academic programs. More students are now pursuing career paths tied to decentralized finance and digital infrastructure.

TRON Academy meets this growing demand by offering structured access to technical resources and mentorship. The program also includes rewards tied to building practical blockchain solutions.

TRON DAO has steadily broadened its academic engagement through builder programs and research partnerships over time.

The existing network, which includes @Columbia, @Harvard, @Yale University, @MIT, @Cornell University, @ImperialCollege London, and @UCBerkeley, continues to grow.

These fields are expected to play a central role in the future of global digital infrastructure. As adoption grows, demand for trained developers in these areas continues to rise.

The initiative works directly with student-led organizations rather than formal university departments. This approach allows the program to reach communities of actively engaged learners on the ground.

Students apply classroom knowledge to real-world blockchain challenges through structured programming. The model encourages both learning and direct contribution to the decentralized ecosystem.

TRON DAO’s academic network now spans institutions across North America, Europe, and beyond. The continued growth of TRON Academy reflects a broader industry commitment to developer education.

Each new university partnership adds to an expanding pipeline of future Web3 talent. The program positions TRON DAO as a consistent supporter of blockchain’s next generation of builders.

The post TRON DAO Strengthens TRON Academy With Four New University Partnerships for 2025–2026 appeared first on Blockonomi.

TLDR

Russia will begin real-world testing of the digital ruble in coordination with the central bank and finance ministry.

Prime Minister Mikhail Mishustin announced the testing plan during a speech before the State Duma.

Authorities scheduled a phased rollout of the digital ruble starting in September 2026.

Major banks and large merchants must enable digital ruble payments from the first stage of implementation.

Smaller banks and companies will have until September 2028 to comply with the new requirements.

Russia has confirmed it will begin real-world testing of the digital ruble soon, according to Prime Minister Mikhail Mishustin. He announced the move before the State Duma while lawmakers reviewed the government’s annual report. At the same time, authorities prepared new legislation to legalize cryptocurrencies under strict state control.

Russia Moves Toward Digital Ruble Rollout

Prime Minister Mikhail Mishustin said the government will start active testing of the digital ruble shortly. He spoke before the State Duma and outlined coordination with financial authorities.

He said, “Regarding the digital ruble, my colleagues from the Bank of Russia and the Ministry of Finance and I will now begin actively testing it.”

He added that officials must build infrastructure and assess transactions before defining volumes and usage methods.

The Central Bank of Russia created the digital ruble as a central bank digital currency. It represents the third form of national fiat after cash and electronic bank money. The bank launched a limited pilot in August 2023 and involved selected participants. Authorities had planned a public launch for mid-2025, then postponed it to fall 2026 after President Vladimir Putin urged wider adoption.

Officials scheduled a phased introduction beginning September 1, 2026. Major banks and large merchants must offer digital ruble services from that date. Universal banks and firms with annual revenue above 30 million rubles will have one extra year to comply. Smaller institutions and companies must enable transactions by September 1, 2028, while very small retailers remain exempt.

Crypto Legalization Advances Under Strict Controls

Russian authorities have also prepared legislation to regulate decentralized digital assets. The Finance Ministry and the central bank drafted a bill that defines the structure of the domestic crypto market. According to reports, the draft will legalize activities such as investment and trading. The plan follows a central bank proposal published in December to classify cryptocurrencies and stablecoins as monetary assets.

Lawmakers aim to adopt the framework by July 1 under the current timetable. The bill sets a $4,000 cap on crypto purchases for non-qualified investors. It also establishes capital requirements for domestic platforms and strict compliance standards. Global exchanges must register local subsidiaries and store user data inside Russia or face blocking measures.

The regulatory push also affects digital ruble accounts. A February report stated that the Bank of Russia updated rules for opening such accounts. These rules introduce tighter procedures for users and service providers. Authorities continue to align both the CBDC rollout and crypto regulation under a unified legal framework.

The post Russia Begins Digital Ruble Tests With Crypto Limits appeared first on Blockonomi.

TLDR

Kraken has launched Flexline, a fixed-rate crypto-backed loan product for Kraken Pro users.

The loans offer terms ranging from two days to two years with annual rates between 10% and 25%.

Users can borrow against supported cryptocurrencies without selling their digital assets.

Kraken holds collateral in segregated wallets and includes it in its Proof of Reserves attestations.

The platform may liquidate collateral if users breach maintenance requirements or fail to repay on time.

Kraken has launched Flexline, a fixed-rate crypto-backed loan service for Kraken Pro users. The product allows clients to borrow against digital assets without selling them. Kraken said it designed the service for advanced and institutional traders seeking liquidity.

Kraken rolls out Flexline with fixed terms and instant funding

Kraken offers loan terms from two days to two years with fixed annual rates. The platform lists annual percentage rates between 10% and 25%. However, Kraken has not disclosed specific loan-to-value ratios.

Users can post supported cryptocurrencies as collateral and receive funds almost instantly. They can receive proceeds in crypto or stablecoins based on regional eligibility. They can trade or withdraw the funds on the platform where permitted.

Kraken holds collateral in segregated wallets and includes it in Proof of Reserves attestations. The exchange said these attestations verify client assets on a 1:1 basis. Collateral faces liquidation if users breach maintenance requirements or miss repayment at maturity.

Borrowers can repay loans early using their account balances on Kraken Pro. However, Kraken charges an early repayment fee for such actions. The product remains unavailable in several jurisdictions, including the United States and the United Kingdom.

Kraken excludes Australia, Brazil, Canada, India, New Zealand, Switzerland, and the United Arab Emirates. The exchange restricts access based on local regulations and internal compliance standards.

Exchanges and DeFi platforms expand crypto-backed lending services

Coinbase has expanded its own crypto-backed loan product for eligible United States users. It allows borrowing up to $100,000 in USDC against assets such as XRP, Dogecoin, Cardano, and Litecoin.

The company lets users access liquidity without selling their tokens. It supports multiple digital assets as collateral under the updated program.

Outside exchanges, mortgage lender Rate has introduced a program called RateFi. The initiative allows qualified borrowers to use verified cryptocurrency holdings during underwriting.

Rate permits digital assets to count as reserves and sometimes as income. Borrowers can therefore avoid liquidating their holdings to meet requirements.

Decentralized finance lending protocols also continue to grow in total value locked. Data from DefiLlama shows about $51.9 billion locked across DeFi lending markets.

Active borrowing across these protocols stands near $30.8 billion, according to the same data. Aave holds nearly $26.9 billion in total value locked.

Morpho follows with around $5.8 billion in total value locked. On Feb. 15, Apollo Global Management partnered with Morpho to support blockchain-based lending infrastructure.

Apollo said it could acquire up to 90 million MORPHO tokens under the agreement. The asset manager oversees about $940 billion in assets.

The post Kraken Launches Flexline Crypto Loans for Pro Users appeared first on Blockonomi.

TLDR:

Michael Saylor pojmenoval Solanu jako primární blockchain pro nasazení programovatelného digitálního úvěru v měřítku.

Strategie STRF převádí ekonomickou energii Bitcoinu do strukturovaných peněžních toků s ochranou kapitálu pro investory.

Saylor představil hodnocení BTC, riziko BTC a kreditní spread jako základní metriky pro měření rizika digitálního úvěru.

Reflexní efekt setrvačníku spojuje tvorbu úvěrů s poptávkou po Bitcoinu, což zvyšuje hodnotu vlastního kapitálu v širším ekosystému.

Michael Saylor učinil odvážné tvrzení o budoucnosti programovatelného digitálního úvěru. Výkonný předseda strategie nedávno uvedl, že Solana bude sloužit jako primární blockchain pro nasazení této nové generace nástrojů digitálního úvěru.

TLDR

Společnost Circle hlásila 77% nárůst celkových příjmů a rezervních výnosů za 4. čtvrtletí 2025.

Společnost Circle vygenerovala 770 milionů dolarů na příjmech, včetně 733 milionů dolarů na rezervních výnosech.

Oběh USDC dosáhl 75,3 miliardy dolarů, což představuje meziroční nárůst o 72%.

Objem transakcí na řetězci dosáhl 11,9 bilionu dolarů ve 4. čtvrtletí, což je nárůst o 247% oproti loňsku.

Společnost Circle vykázala 133 milionů dolarů na čistém příjmu a 167 milionů dolarů na upraveném EBITDA.

Společnost Circle hlásila 77% meziroční nárůst celkových příjmů a rezervních výnosů za čtvrté čtvrtletí 2025. Společnost spojila růst s vyšším oběhem USDC a rezervními výnosy. Nejnovější čísla naznačují rostoucí propast mezi USDC a Ripplem RLUSD.

TLDR

t54 Labs získal 5 milionů dolarů v kole seed financování, které spolupředsedali Franklin Templeton a Ripple.

Společnost vytváří nástroje pro identitu a riziko pro autonomní agenty, kteří provádějí finanční transakce.

Anagram a PL Capital se připojili k kolu spolu s několika investory zaměřenými na kryptoměny.

t54 funguje na sítích včetně XRP Ledger, Solana a Base.

Startup plánuje najímat inženýry a vedoucího vztahů s vývojáři, aby rozšířil svou platformu.

t54 Labs zajistil 5 milionů dolarů v seed financování na vybudování důvěryhodné vrstvy pro agentní finance. Anagram, PL Capital a Franklin Templeton spolupředsedali kolo s podporou od Ripple a dalších. Zakladatel Chandler Fang potvrdil financování a nastínil plány na rozšíření infrastruktury a nábor.

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Bitcoin čelí pokračujícímu strukturálnímu tlaku uprostřed neaktivní likvidity stablecoinů.

Poměr nabídky stablecoinů vykazuje negativní hodnoty napříč krátkodobými, střednědobými a dlouhodobými oscilátory.

Obnovení cenových reboundů se potýká, protože kapitál zůstává ve stablecoinech místo aby byl vystaven spotovému trhu.

Tržní posun závisí na obnovené poptávce po stablecoinech, nikoli na krátkodobé cenové momentum.

Bitcoin pokračuje v obchodování pod strukturálním tlakem, přičemž poměr nabídky stablecoinů (SSR) zůstává negativní napříč 90denními, 200denními a 365denními oscilátory.

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21Shares uvedla ETP STRC na Euronext Amsterdam pod tickerem STRC NA.

Produkt poskytuje evropským investorům expozici na preferované akcie společnosti Strategy, které jsou spojeny s jejím bitcoinovým pokladem.

Strategy v současnosti drží 717,722 BTC, jejichž hodnota činí přibližně 47 miliard dolarů.

Preferované akcie nabízejí proměnlivou dividendu stanovenou na annualizované sazbě 11,25 %.

21Shares navrhla ETP, aby umožnila přístup prostřednictvím standardních makléřských účtů.

21Shares uvedla na trh nový produkt obchodovaný na burze, který poskytuje evropským investorům expozici na preferované akcie společnosti Strategy. Produkt se obchoduje pod tickerem STRC NA na Euronext Amsterdam. Uvedení na trh rozšiřuje přístup k výnosové struktuře společnosti Strategy, která je podložena bitcoinem, prostřednictvím regulovaného burzovního nástroje.

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Safe has integrated a Morpho vault to enable yield generation using Société Générale’s EURCV stablecoin.

Users can access euro-denominated yield directly through their self-custody Safe wallets.

The EURCV stablecoin operates under MiCA compliance through Société Générale-FORGE.

Steakhouse Financial will manage risk parameters and curate collateral for the Morpho vault.

Safe reported a fivefold revenue increase in 2025 after processing about $600 billion in transactions.

Safe Labs has integrated a Morpho vault to support yield generation using Société Générale’s EURCV stablecoin. The initiative enables euro-denominated savings onchain through self-custody wallets. The company targets institutional users seeking compliant euro-based yield products.

Safe Connects Morpho Vault for EURCV Yield

Safe will allow users to connect directly to a dedicated Morpho vault for the EURCV stablecoin. The vault will distribute yield directly into users’ Safe wallets. Safe Labs designed the integration to simplify access to Euro liquidity onchain. The product supports users who manage large euro balances.

Rahul Rumalla, CEO of Safe Labs, outlined the goal of the launch. He said, “European users managing serious capital need the same quality of earning infrastructure that exists for dollar stablecoins.” He added, “This is about bringing institutional-grade EUR yield into self-custody, with a product experience that works at scale.” Safe will route deposits through Morpho’s decentralized lending infrastructure.

Steakhouse Financial will curate the vault’s DeFi strategies and risk parameters. The firm will also define acceptable collateral assets for deployment. Steakhouse manages dozens of vaults on Morpho. It aims to optimize capital allocation within defined limits.

Morpho operates as a decentralized lending protocol. It enables curated vaults that match lenders and borrowers. Safe users will access the EURCV vault through their existing wallets. The system will credit yield directly without custodial intermediaries.

EURCV Stablecoin Expands Onchain Euro Access

Société Générale-FORGE issues the EURCV stablecoin under MiCA compliance. The token tracks the euro and supports regulated digital asset use. The structure aligns with European regulatory standards. Safe integrates this compliant asset into decentralized finance tools.

Safe originated as a noncustodial wallet project from Gnosis. The platform now serves DAOs, foundations, and institutional users. Its multisig smart contracts secure large digital asset holdings. The company reported a fivefold revenue increase in 2025.

Safe processed about $600 billion in transaction volume during that period. The company plans to reach $100 million in annual recurring revenue by 2030. It continues expanding wallet features and integrations. The Morpho vault marks another step in that plan.

In November, Safe partnered with Hypernative. The partnership embedded automated transaction protection into Safe wallets. It also added policy controls for institutional users. These tools aim to strengthen operational security.

The post Safe Connects EURCV Stablecoin to Morpho Lending Vault appeared first on Blockonomi.

TLDR

Austin Arnold řekl, že Bitcoin má vyšší šanci dosáhnout 1 000 000 $ než klesnout na 0 $.

Bitcoin se obchoduje blízko 66 700 $, což je 48 % pod jeho předchozím historickým maximem.

Peter Schiff vyzval držitele, aby prodali, a tvrdil, že Bitcoin nakonec klesne na nulu.

Spot Bitcoin ETF v současnosti drží přibližně 1,45 milionu BTC v hodnotě přibližně 96 miliard $.

Veřejné společnosti vlastní více než 1 milion BTC, což odráží rostoucí firemní přijetí.

Bitcoin se obchoduje blízko 66 700 $, po ostrém poklesu z předchozího vrcholu. Zakladatel Altcoin Daily Austin Arnold řekl, že aktivum má vyšší šanci dosáhnout 1 000 000 $ než klesnout na 0 $. Jeho komentáře vyvolaly novou debatu, když účastníci trhu zvažují dlouhodobé výsledky.

TLDR

Tether invested in Whop to expand stablecoin payments for digital creators worldwide.

Whop will integrate Tether’s Wallet Development Kit to enable self-custodial wallets.

The platform will support transactions in USDT and the newly introduced USAT token.

Users will access on-chain settlement along with lending and borrowing features.

Whop serves more than 18 million users across 144 countries.

Tether has invested in fintech marketplace Whop to expand stablecoin payments for digital creators worldwide. The companies announced the deal on Wednesday and outlined plans for wallet integration and on-chain settlement. The partnership aims to connect millions of users with dollar-denominated digital assets for daily transactions.

Tether integrates USDT and USAT into the Whop platform

Tether will integrate its Wallet Development Kit into Whop to power self-custodial wallets for users. The system will support USDT and the newly introduced USAT token for platform payments.

Whop users will transact directly on-chain, and they will access features such as lending and borrowing. Tether’s open-source kit will also support Bitcoin and the Lightning Network for broader asset access.

Tether CEO Paolo Ardoino said stablecoins gain value through daily commercial use. He stated, “Tether’s partnership with WHOP supports a digital dollar infrastructure aimed at improving payment speed, accessibility, and economic participation.”

Whop CEO Steven Schwartz said the integration will remove friction from online payments. He stated that payments will “move as freely as the internet itself” through stablecoin rails.

Whop will embed the wallet into its existing social commerce system for digital sellers. Users will control their assets directly, and they will settle transactions without intermediaries.

The companies confirmed that the integration will roll out in phases across the platform. They expect the upgrade to reach Whop’s global user base during the expansion process.

Expansion plans follow Tether investment

Whop launched in 2021 under founders Steven Schwartz and Cameron Zoub in Brooklyn. The platform positions itself as an alternative to Shopify and Patreon for digital products.

The company reports more than 18 million users across 144 countries. It also reports roughly $3 billion in annual payouts to creators and entrepreneurs.

Tether will support Whop’s growth across Latin America, Europe, and Asia-Pacific. The funding will also back new artificial intelligence tools for income generation.

Whop plans to use AI systems to help users create and market digital products. The company will integrate these tools alongside the new stablecoin infrastructure.

Tether operates from El Salvador through its investment arm. The firm reports more than $180 billion in issued digital dollars worldwide.

The company states that its broader network now reaches over 530 million users globally. It has deployed capital across energy, biotechnology, and digital media sectors.

The post Tether Invests in Whop to Expand Stablecoin Payments appeared first on Blockonomi.

TLDR

FG Nexus sold 7,550 Ethereum in a single transaction valued at about 14.06 million dollars.

The company transferred the Ethereum to Galaxy Digital, according to data shared by Lookonchain.

FG Nexus had previously acquired 50,770 Ethereum at an average price of 3,860 dollars per token.

The firm has now sold more than 28,000 Ethereum since reversing its accumulation strategy.

Despite the recent sales, FG Nexus still holds 37,594 Ethereum in its treasury.

Vitalik Buterin has sold 11,422 Ethereum as part of his pledged plan to support open source development.

FG Nexus has sold another 7,550 Ethereum in a single transaction, extending its ongoing liquidation trend. The transfer came as other major holders, including Vitalik Buterin, also reduced their positions. These moves place fresh focus on recent Ethereum treasury activity and large holder transactions.

FG Nexus Extends Ethereum Liquidation Strategy

FG Nexus executed the sale of 7,550 ETH worth about $14.06 million. Lookonchain cited Arkham data and reported that the firm sent the tokens to Galaxy Digital.

The transaction forms part of a broader selling streak that began late last year. Earlier, the company shifted from accumulation to steady disposals as market conditions changed.

Between August and September 2025, FG Nexus purchased 50,770 ETH for $196 million. The firm paid an average price of $3,860 per token during that period.

After the October 10 market crash, the company announced plans to sell property assets to fund more Ethereum purchases. However, it reversed that plan within weeks and began liquidating its holdings.

Ethereum treasury firm FG Nexus(@FGNexusio) sold another 7,550 $ETH($14.06M) today.

In August and September 2025, they bought 50,770 $ETH($196M) at $3,860 avg.

On October 22, 2025, they announced plans to sell their property to buy more $ETH.

But less than a month later, they… pic.twitter.com/m5cFreTBQk

— Lookonchain (@lookonchain) February 25, 2026

The firm first sold 21,025 ETH for $55.7 million. It has now followed by another 7,550 ETH sale as part of the same strategy.

Despite the recent sales, FG Nexus still holds 37,594 ETH. At current prices, those holdings carry an estimated value of $73.62 million.

Ethereum trades below the firm’s average purchase price of $3,860. As a result, the company holds an unrealized loss exceeding $70 million based on disclosed data.

Vitalik Buterin and Other Large Holders Reduce Ethereum Exposure

Vitalik Buterin has also reduced his Ethereum holdings in recent weeks. He pledged to sell 16,384 ETH to support open-source development initiatives.

So far, Buterin has liquidated 11,422 ETH. That total includes a 675 ETH sale reported yesterday.

Trend Research, another Ethereum treasury firm, completed a large liquidation on February 8. The firm transferred 651,757 ETH to Binance to repay outstanding debt.

Arthur Hayes, BitMEX co-founder, has also moved Ethereum to exchanges. He recently transferred 1,000 ETH to Bybit as part of a portfolio adjustment.

In contrast, Bitmine has continued to increase its Ethereum holdings. The company announced the purchase of 51,162 ETH earlier this week.

Following that acquisition, Bitmine now holds 4,422,659 ETH. The firm has stated that it aims to secure a 5% share of the total Ethereum supply.

The post FG Nexus Sells 7,550 Ethereum as Vitalik Cuts 11,422 ETH appeared first on Blockonomi.

TLDR

Nearly 48.7% of Bitcoin’s circulating supply now trades below its cost basis at around $66,500.

Bitcoin has declined 47% from its October 2025 all-time high of $126,000.

Similar levels of supply in loss appeared at previous cycle bottoms in 2015, 2018, and 2022.

The Fear and Greed Index currently reads 11, reflecting extreme fear in the market.

The share of UTXOs in profit has dropped sharply from 99.89% in October 2025 to 56.4% today.

Bitcoin (BTC) has extended its decline as nearly half of its circulating coins now trade below cost basis. On-chain data shows 48.7% of supply sits in loss at a price near $66,500. Previous cycles reached similar levels before Bitcoin price formed its bear market bottom.

Bitcoin has fallen 47% from its $126,000 peak recorded in October 2025. The broader crypto market has erased over $1.2 trillion in value since that peak.

Bitcoin Supply in Loss Reaches Historic 50% Baseline

CryptoQuant data shows 48.7% of Bitcoin supply, about 9.7 million BTC, remains below acquisition price. Analyst Crypto Rand stated that “the last three times this happened, it marked the exact bottom.” He shared the data as Bitcoin traded near $66,500.

50% of all Bitcoin supply is now in loss. The last 3 times this happened it was the exact bottom. Sleep well. pic.twitter.com/z1xmSCbKvs

— Rand Group (@cryptorand) February 25, 2026

Historical records show similar readings during prior bear markets. Bitcoin traded at $15,479 in November 2022 when half the supply was underwater. It also traded at $3,122 in December 2018 and $152 in January 2015 under similar conditions.

Each of those levels later became the cycle low. Prices rebounded strongly after selling pressure eased.

Data indicates heavy losses often follow rapid declines. Forced selling tends to slow once weaker holders exit the market.

Market Indicators Mirror Past Bitcoin Cycle Lows

The Fear and Greed Index currently stands at 11, which signals Extreme Fear. The index showed 20 during the November 2022 bottom and 11 in December 2018.

On-chain metrics also reflect declining profitability. UTXOs in profit have dropped from 99.89% in October 2025 to 56.4% today.

The same metric stood above 99% in November 2024. It measured 84.6% as recently as January 2026.

UTXOs in profit track whether coins trade above their last moved price. The sharp fall shows that many holders now hold unrealized losses.

Analyst Moustache said Bitcoin recorded its second-lowest weekly RSI in history. He stated that this reading suggests the bottom may already be in place.

Trader HK identified a price range between $60,000 and $42,000 as a potential bottom zone. He said historical data shows experienced investors often accumulate in this area.

Bitcoin continues to trade near $66,000 at the time of reporting. Market data confirms that nearly half of the circulating supply remains below cost basis.

The post Nearly 50% of Bitcoin Supply Now in Loss, Echoing Past Bottoms appeared first on Blockonomi.