Market Signal Briefing

The Coca-Cola Company delivered strong Q4 2025 results, outperforming previous expectations with robust organic revenue growth across all segments. KO trades at a significant premium (21x EV/EBITDA) to peers like PEP and KDP, making its current valuation unattractive for new purchases. Despite a sharp drop in reported operating margin due to a one-off trademark write-off, underlying profitability and non-GAAP margins improved on organic growth.

SAN FRANCISCO, Feb. 10, 2026 (GLOBE NEWSWIRE) -- Investors in Hub Group, Inc. (NASDAQ: HUBG) saw the price of their shares fall over 27% during trading on February 6, 2026, after the company filed its current report warning that its quarterly reports going back to March 31, 2025 “should no longer be relied upon.”

The development and severe market reaction has prompted national shareholder rights law firm Hagens Berman open an investigation into whether Hub Group may have intentionally misled investors about having prepared its financial statements consistent with relevant accounting rules. The firm urges Hub Group investors who suffered significant losses to contact the firm now to discuss their rights.

Visit: www.hbsslaw.com/investor-fraud/hubg
Contact the Firm Now: [email protected] | 844-916-0895

Hub Group, Inc. (HUBG) Investigation:

In the past, Hub Group has assured investors that its financial statements were prepared in conformity with generally accepted accounting principles (“GAAP”) and fairly presented its financial condition. The company also assured investors that its disclosure controls and procedures were sufficient.

These assurances came into question after the market closed on February 5, 2026. That day, Hub Group filed a report with the SEC warning investors not to rely on certain of its quarterly reports because the company understated “purchased transportation costs and accounts payable in the first nine months of 2025.”

The specific quarterly reports which the company warned about include the periods ended March 31, June 30 and September 30, 2025.

Hub Group also revealed that it “expects to conclude that it did not maintain effective disclosure controls and procedures and internal control over financial reporting for the year ended December 31, 2025[,]” and that it “is continuing to assess the potential impact to its consolidated financial statements for the years ended December 31, 2024 and 2023.”

The market’s reaction was swift. During trading the next day, the price of Hub Group shares tanked as much as $14.16 (-27%), wiping out over $800 million of market capitalization in a single day.

“We’re investigating whether, having repeatedly assured investors about the propriety of it is financials and controls, Hub Group may have intentionally understated expenses and whether fiscal years 2023 and 2024 may also be impacted,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.

If you invested in Hub Group and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now.

If you’d like more information and answers to other frequently asked questions about the Hub Group investigation, read more.

Whistleblowers: Persons with non-public information regarding Hub Group should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

Contact:
Reed Kathrein, 844-916-0895

Bitcoin is currently trading below the average cost of production for listed miners, a situation that historically doesn’t last long, according to recent CoinShares research.

The average production cost for publicly traded bitcoin mining companies sits around $74,600, per the report. When prices fall below this threshold, miners face pressure on their balance sheets and capital spending, typically forcing a contraction in supply.

The gap between bitcoin mining economics and current prices may signal an approaching market bottom, particularly as large holders have started buying again after weeks of selling pressure, according to the CoinShares report.

The shift in investor behavior appears in multiple data points. Entities holding more than 10,000 bitcoin previously sold roughly $28 billion worth during the recent downturn starting in October 2025. But over the past two weeks, these large holders reversed course and purchased approximately $4.7 billion of bitcoin, per CoinShares.

At the same time, trading volumes reached historic highs. Global crypto exchange-traded product volumes hit a record $18.5 billion on February 8, according to the report. These volume spikes during price declines have typically reflected final selling pressure rather than the start of prolonged downturns.

The production cost threshold creates natural support levels. Spot prices staying materially below what it costs miners to produce new bitcoin are “short lived,” the report stated, because the economics become unsustainable for marginal producers.

Mining Sector Performance The actively managed CoinShares Bitcoin Mining ETF (WGMI) offers direct exposure to companies navigating these production economics. The actively managed fund holds $201.3 million in assets and returned 14.5% year-to-date, per ETF Database.

IREN Limited (IREN) represents the fund’s largest position at 22.5% of assets, followed by Cipher Mining Inc. (CIFR) at 18.3%, according to ETF Database. Hut 8 Corp. (HUT), Applied Digital Corp. (APLD), and TeraWulf Inc. (WULF) round out the top five holdings.

For investors seeking broader bitcoin exposure, the CoinShares Bitcoin ETF (BRRR) holds $425.5 million in assets with a 0.25% expense ratio and saw $4.56 million in net inflows over the past month, per ETF Database.

The report noted that while the market remains under pressure, with more than 75% of bitcoin positions still underwater, behavioral and production-level signals suggest “downside momentum is close to exhaustion.”

For more news, information, and strategy, visit the CoinShares Crypto ETF Hub.

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SAN FRANCISCO, Feb. 10, 2026 (GLOBE NEWSWIRE) -- National shareholder rights law firm Hagens Berman is issuing notice to investors in F5, Inc. (NASDAQ: FFIV) regarding the February 17, 2026, lead plaintiff deadline in a pending securities class action against the company and certain of its executives.

The firm is actively investigating the alleged claims, which allege that F5 executives misled the market regarding the security of its core BIG-IP products. The lawsuit alleges that while F5 touted its comprehensive security platform, the truth emerged in October 2025: a sophisticated nation-state threat actor had allegedly maintained long-term persistent access to F5’s systems, exfiltrating sensitive source code. This breach and the subsequent 2026 revenue guidance cut triggered a series of crashes wiping out over $2 billion in market value.

[CLICK HERE TO SUBMIT YOUR F5 LOSSES]

View our latest video summary of the allegations: www.youtube.com/watch?v=_SyUnnvAYak

“We are investigating if F5 unduly delayed in disclosing a material cybersecurity incident,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation of the alleged claims in the pending suit.

FFIV Case Summary at a Glance

Key DetailInformation for FFIV InvestorsLead Plaintiff DeadlineFebruary 17, 2026Class PeriodOct. 28, 2024 – Oct. 27, 2025Core AllegationUndisclosed breach of BIG-IP source codeStock Price ImpactSignificant declines from Oct. 2025 disclosures
F5, Inc. (FFIV) Securities Fraud Claims: Alleged Infiltration and the Guidance Collapse

Concealment of Systemic Vulnerabilities and Significant Financial risks: The lawsuit alleges the company falsely touted its best-in-industry security and confidence in its ability to meet and capitalize on the growing security needs for its clientele. In reality, F5 was, at the time, the subject of a significant security incident, placing its clientele’s security and F5’s future prospects at significant risk.Undetected Longterm Persistent Infiltration: On Oct. 15, 2025, F5 revealed that “[i]n August 2025, we learned a highly sophisticated nation-state threat actor maintained long-term, persistent access to, and downloaded files from, certain F5 systems. These systems included our BIG-IP product development environment and engineering knowledge management platforms.” This news drove shares down nearly 14% over two trading days, according to the complaint.Poor Performance and Dismal Outlook: On Oct. 27, 2025, F5 released disappointing 4Q FY25 results, providing significantly below-market growth expectations for fiscal 2026 due in significant part to the security breach as F5 announced expected reductions to sales and renewals, elongated sales cycles, terminated projections, and increased expenses attributed to ongoing remediation efforts. Defendants also allegedly disclosed that BIG-IP, the product that was the subject of the security breach, is F5’s highest revenue product. This news drove the price of F5 shares down $22.83 (-7%) the next day and was followed by several analyst rating and price target downgrades. Next Steps: Contact Partner Reed Kathrein Today
Hagens Berman is a top-tier plaintiff litigation firm recognized for leading complex securities fraud class actions.

Mr. Kathrein is actively advising investors who purchased FFIV shares during the Class Period (October 28, 2024 – October 27, 2025) and suffered substantial losses.

The Lead Plaintiff Deadline is February 17, 2026.

TO SUBMIT YOUR F5 (FFIV) LOSSES NOW, PLEASE USE THE SECURE FORM BELOW:

Report Your FFIV Losses to Hagens BermanContact: Reed Kathrein at 844-916-0895 or email [email protected]. If you’d like more information and answers to additional frequently asked questions about the F5 case and our investigation, read more.

Whistleblowers: Persons with non-public information regarding F5 should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

Contact:
Reed Kathrein, 844-916-0895

Q4: 2026-02-10 Earnings SummaryEPS of $1.41 beats by $0.11

 |

Revenue of

$87.07M

(0.10% Y/Y)

beats by $448.16K

Consensus Cloud Solutions, Inc. (CCSI) Q4 2025 Earnings Call February 10, 2026 8:30 AM EST

Company Participants

Adam Varon - Senior Vice President of Finance
R. Turicchi - CEO & Director
Johnny Hecker - Chief Revenue Officer & Executive VP of Operations
James Malone - CFO & Principal Accounting Officer

Conference Call Participants

David Larsen - BTIG, LLC, Research Division
Gene Mannheimer
Isaac Sellhausen - Oppenheimer & Co. Inc., Research Division

Presentation

Operator

Good day, ladies and gentlemen, and welcome to Consensus Q4 2025 Earnings Call. My name is Paul, and I will be the operator assisting you today. [Operator Instructions]

On this call from Consensus will be Scott Turicchi, CEO; Jim Malone, CFO; Johnny Hecker, CRO and Executive Vice President of Operations; and Adam Varon, Senior Vice President of Finance. I will now turn the call over to Adam Varon, Senior Vice President of Finance at Consensus. Thank you. You may begin.

Adam Varon
Senior Vice President of Finance

Good morning, and welcome to the Consensus investor call to discuss our Q4 and year-end 2025 financial results, other key information and our 2026 full year and Q1 2026 guidance. Joining me today are Scott Turicchi, CEO; Johnny Hecker, CRO and EVP of Operations; and Jim Malone, CFO. The earnings call will begin with Scott providing opening remarks. Johnny will give an update on operational progress since our Q3 2025 investor call, and then Jim will discuss Q4 2025 and full year 2025 financial results, then provide our full year 2026 and Q1 2026 guidance range.

After we finish our prepared remarks, we will conduct a Q&A session. At that time, the operator will instruct you on the procedures for asking a question. Before we begin our prepared remarks, allow me to direct you to our forward-looking statements and risk factors on Slide 2 of our investor presentation.

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered In Ramaco To Contact Him Directly To Discuss Their Options

If you purchased or acquired securities in Ramaco between July 31, 2025 and October 23, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

[You may also click here for additional information]

New York, New York--(Newsfile Corp. - February 10, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Ramaco Resources, Inc. ("Ramaco" or the "Company") (NASDAQ: METC) and reminds investors of the March 31, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) that Defendants had not commenced any significant mining activity at the Brook Mine after groundbreaking; (2) that no active work was taking place at the Brook Mine; (3) that, as a result, the Company overstated development progress at the Brook Mine; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On October 23, 2025, Wolfpack Research published a report alleging, among other things, that Ramaco's Brook Mine in northern Wyoming is a "hoax" and a "Potemkin Mine" which was not, in fact, mined after its July groundbreaking. The report alleges that the Company "built this mine for show," and reveals that, as shown by drone footage taken three months after the mine's opening, no active work appears to have occurred. The report states that "[d]espite multiple site visits during working hours over several weeks" Wolfpack researchers "never observed the equipment mentioned in news reports or any active work."

On this news, Ramaco's stock price fell $3.81, or 9.6%, to close at $36.01 per share on October 23, 2025, on unusually heavy trading volume.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Ramaco's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the Ramaco Resources class action, go to www.faruqilaw.com/METC or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Follow us for updates on LinkedIn, on X, or on Facebook.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283272

Source: Faruqi & Faruqi LLP

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TLDR Michael Saylor dismissed concerns that Strategy might sell its bitcoin holdings due to price fluctuations. Saylor emphasized that the strategy’s financial position ensures it will continue buying bitcoin. The company recently purchased 1,142 bitcoins for $90 million, bringing its total holdings to 714,644 coins. Strategy’s average cost per bitcoin is $76,056, well above the current price of around $69,000. Despite recent losses, Saylor expressed confidence in bitcoin’s long-term performance and the Strategy’s investment strategy. Michael Saylor, chairman of Strategy, has dismissed concerns that the company might be forced to sell its bitcoin holdings amid the cryptocurrency’s fluctuating prices. He reassured investors during a CNBC interview, emphasizing that the company remains committed to buying bitcoin, despite the recent price decline. Saylor clarified that Strategy’s financial position and long-term strategy do not necessitate the sale of its bitcoin assets.

Saylor Addresses Bitcoin Concerns Saylor explained that worries about the company selling bitcoin are “unfounded.” He pointed out that Strategy’s net leverage ratio is half of what is typical for investment-grade companies, ensuring its stability.

“We’ve got 50 years’ worth of dividends and bitcoin,” Saylor said. “We’ve got two and a half years’ worth of dividends just in cash on our balance sheet.”

He further assured that the company would continue to purchase Bitcoin. “We’re not going to be selling, we’re going to be buying bitcoin,” he stated, adding that he expects the company to buy bitcoin every quarter for the foreseeable future.

Last week, Strategy added 1,142 bitcoins to its holdings, totaling roughly $90 million. The coins were purchased at an average price of $78,815 each, bringing the company’s total bitcoin holdings to 714,644 coins. The total investment in bitcoin now stands at approximately $54.35 billion, with an average cost of $76,056 per bitcoin.

Despite bitcoin’s recent price dip, which has seen it trading around $69,000, Strategy is not planning to sell its holdings. Saylor emphasized that the volatility of bitcoin is part of its nature and that it has outperformed traditional assets such as gold, equity, and real estate.

Financial Performance and Strategy’s Long-Term Outlook Strategy reported a fourth-quarter operating loss of $17.4 billion, largely due to non-cash mark-to-market accounting related to bitcoin’s price drop. The company’s net loss for the period stood at $12.6 billion. Despite these results, Saylor remains confident in the company’s long-term strategy, which focuses on bitcoin and its digital credit business.

Saylor declined to make short-term bitcoin price predictions but expressed optimism about its long-term performance. He stated that he believes bitcoin will outperform the S&P 500 over the next four to eight years. This aligns with Strategy’s broader vision of maintaining a long-term approach to its bitcoin investments, unaffected by short-term market movements.

Shares of Strategy have experienced a decline, with the company’s stock down 3% on Tuesday, contributing to a year-to-date drop of 15%. Over the past year, the company’s shares have fallen by 60%. However, Saylor’s confidence in the company’s strategy remains unchanged, and he continues to prioritize bitcoin as a core asset.

Ripple Chief Legal Officer Stuart Alderoty has been confirmed as a key attendee at a high-stakes meeting at the White House today. 

During the meeting, top-tier crypto executives and banking giants aim to hash out the contentious issue of stablecoin yields.

Alderoty has joined representatives from Goldman Sachs, JPMorgan, Coinbase, a16z, and other financial heavyweights. 

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The goal is to break the deadlock that has stalled the progress of the much-talked-about crypto legislation.

The yield issueWhether or not stablecoin issuers and exchanges should be permitted to offer interest-like "yields" to holders remains the most hotly debated issue.

Traditional financial institutions, which are represented by groups like the American Bankers Association and giants like Bank of America and Wells Fargo, have argued that allowing crypto firms to pay yield on stablecoins creates an uneven playing field. 

They argue that these products could siphon deposits away from community and regional banks without banking charters and FDIC insurance requirements.

Industry leaders like Ripple and Coinbase argue that restricting yields acts as a protectionist measure for banks.

Coinbase is being quietly eclipsed by Hyperliquid, whose trading volume is nearly double that of Coinbase.

The prominent decentralized perpetual futures exchange, Hyperliquid, has surpassed Coinbase in terms of trading volume, according to Artemis. The data revealed that Hyperliquid recorded $2.6 trillion in trading volume, compared with Coinbase’s $1.4 trillion within the same timeframe.

This represents nearly double the notional volume of Coinbase.

Hyperliquid vs. Coinbase Findings shared by Artemis also disclosed that the year-to-date price performance highlights a stark contrast between the two platforms. Hyperliquid has gained 31.7% so far in 2026, while Coinbase has declined by 27.0%. This resulted in a divergence of 58.7% over just a few weeks.

Coinbase is one of the most established centralized exchanges in the world, while Hyperliquid is still an emerging decentralized player in the space. Following the significant gap in both trading activity and asset performance, Artemis described it as a sign that the market is paying attention to the decentralized perpetuals exchange’s rapid growth.

Throughout 2025, the platform generated $822 million in revenues. So far this year alone, it recorded $79.1 million in revenues.

Meanwhile, open interest on Hyperliquid, over the past 24 hours, stood at $4.1 million.

Amid rapid growth, Ripple announced that its Ripple Prime brokerage platform will now support Hyperliquid. This would allow institutional clients to access Hyperliquid’s on-chain derivatives while cross-margining exposure across other assets, including cleared derivatives, OTC swaps, fixed income, forex, and digital assets, under a single counterparty.

You may also like: Ripple Announces Institutional Support for Hyperliquid These Popular Altcoins Lost the Most in the Last 24 Hours: What You Need to Know Bitwise CIO Warns: Crypto Faces a 3-Year Test if Clarity Act Fails Michael Higgins, international CEO of Ripple Prime, said the integration merges decentralized finance with traditional prime brokerage, improving liquidity access and trading efficiency. The move comes as Hyperliquid continues to see billions in daily volumes, as the platform sees growing influence in the decentralized perpetual futures market.

HYPE Shorting Controversy Hyperliquid’s popularity has not been without controversy. In December, the exchange confirmed that a former employee, dismissed in early 2024 for insider trading, was behind large short positions in its native HYPE token. On-chain analysis verified that the wallet responsible executed leveraged shorts totaling over $223,000, including $180,000 in HYPE at 10x leverage.

The platform reiterated its zero-tolerance policy for insider trading and said employees and contractors are prohibited from trading HYPE derivatives.

Tags:

By PYMNTS  |  February 10, 2026

 | 

Curql, a collective of more than 160 credit unions that jointly invest in FinTech, said Tuesday (Feb. 10) that it invested in digital asset core platform Stablecore.

Stablecore’s platform enables credit unions to offer stablecoin and digital asset products to their members, Curql said in a Tuesday press release.

The investment follows the July passage of the GENIUS Act as well as other regulatory changes around digital assets, the group said in the release.

While credit unions are now well positioned to offer stablecoins and digital assets to their members, many of these institutions must solve gaps in their existing technology stack before they can do so, according to the release.

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Stablecore offers a solution with its platform that integrates digital asset custody, blockchain infrastructure, compliance and digital asset ledgering, per the release.

“Stablecore removes the technology barrier,” Curql President and CEO Nick Evens said in the release. “Our credit union owners see this as essential infrastructure for staying competitive in the years ahead.”

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Curql Fund Principal Martin Walker said in the release: “While blockchain technology, cryptocurrencies and digital assets aren’t really ‘new’ anymore, we believe stablecoins and tokenization enable several use cases that will be disruptive to payments, money movement and operations within financial institutions.”

Stablecore Co-Founder and CEO Alex Treece said in the release: “As digital assets and stablecoins continue to see rapid growth, credit unions must evolve to support these products in order to preserve their deposits, remain competitive and continue serving as their members’ primary account.”

Treece announced in a September blog post that Curql was among the investors participating in Stablecore’s $20 million funding round. He said Stablecore would use the additional funding secure in the round to support its bank and credit union clients.

Jordan Leites, vice president at Norwest, which led the round, said in a September press release that stablecoins and digital assets are moving into the heart of the financial system and that Stablecore is building the infrastructure for this next era of banking.

“Stablecore is leading the charge, bringing together deep digital asset expertise and large-scale enterprise execution to deliver trusted solutions for banks and credit unions,” Leites said.

PYMNTS reported in September that as financial services move on-chain, credit unions and regional banks are faced with the choice to either plug in or risk being routed around.

3 mins mins

Key Insights:

Tether backs LayerZero Labs after USDt0 moves $70B across chains in under 12 months. LayerZero’s tech powers seamless digital asset transfers between blockchains without losing liquidity. New tools like WDK support AI-driven wallets for real-time digital asset payments and custody. Tether Backs LayerZero After USDt0 Moves $70B Cross-Chain Tether Investments has made a new investment in LayerZero Labs, the company behind a widely used cross-chain protocol. The deal follows the fast growth of USDt0, a stablecoin powered by LayerZero’s system, which moved over $70 billion in value across blockchains in less than a year.

LayerZero’s framework allows digital assets to move smoothly between different chains. This reduces the need to split liquidity or lock assets on single networks. The technology has already been used in live markets and under real-world demand.

Tether’s move supports its plan to back infrastructure that is already working at scale. The goal is to improve how stablecoins like USDt move across platforms and to help build a more connected digital asset system.

Building Tools for Wallets and AI Systems Tether has also built a Wallet Development Kit (WDK) that works with LayerZero’s tech. Together, they form the base for payment, custody, and settlement tools. The system is designed for use in both business settings and AI-driven finance.

AI agents can use these tools to create wallets and carry out digital asset transfers on their own. This opens new ways for smart systems to manage funds and carry out transactions without manual input.

Tether CEO Paolo Ardoino said,

 “LayerZero Labs has built interoperability technology that allows digital assets to be transferred in real-time across any transport layer and distributed ledger.”

USDt0 Proves Value in Real-World Conditions USDt0 and XAUt0 were built by Everdawn Labs using LayerZero’s framework. They show that tokens can move between blockchains without breaking liquidity. This helps solve a long-standing problem in crypto where assets are often locked to one chain.

These tools have been tested under real conditions. USDt0 alone handled billions in value movement in under 12 months. This performance helped drive Tether’s decision to invest in the team behind the tech.

A Long-Term Strategy Backed by Working Results Tether’s investment reflects support for systems that already show strong performance. The company focuses on tech that improves stability, access, and ease of use for global digital assets.

LayerZero CEO Bryan Pellegrino said,

 “Having Tether deepen its commitment with this investment is the ultimate validation. We are thrilled to continue building the rails for global permissionless markets together.”

Tether’s investments are made through its independent arm based in El Salvador. The firm uses profits and reserves to back technologies in sectors such as AI, energy, and financial services.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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TLDR Grayscale’s research indicates that Bitcoin’s price movements are increasingly aligned with high-risk growth assets rather than gold. Bitcoin has developed a strong correlation with software stocks, especially since early 2024, signaling a shift in its market behavior. Grayscale points out that Bitcoin’s recent price declines reflect its deeper integration into traditional financial markets. Bitcoin’s failure to act as a safe-haven asset should be seen as part of its ongoing evolution rather than a setback. Grayscale acknowledges Bitcoin’s long-term potential as a store of value but notes it is unlikely to replace gold in the short term. Grayscale’s latest research reveals that Bitcoin’s price movements are increasingly mirroring those of high-risk growth assets rather than a safe haven. Despite its long-standing position as “digital gold,” the cryptocurrency’s behavior has shown closer correlation with software stocks than traditional precious metals. Grayscale’s findings suggest that Bitcoin is becoming more integrated into traditional financial markets, making it more sensitive to equities.

Bitcoin No Longer Correlated with Gold Grayscale’s report, authored by Zach Pandl, points out that Bitcoin’s recent market behavior is far from that of gold or other precious metals. The analysis notes that Bitcoin’s price movements have failed to align with those of bullion or silver, which have seen record rallies recently. Instead, Bitcoin is increasingly tracking software stocks, particularly since early 2024, a trend not seen in the past.

This change comes amid growing concerns in the software sector about artificial intelligence’s potential to disrupt or even obsolete many services. As a result, Bitcoin’s correlation with this sector signals a shift away from its traditional role as a safe haven, highlighting its increasing connection with growth assets. Pandl emphasized, “Bitcoin’s short-term price movements have not been tightly correlated with gold or other precious metals,” indicating a change in its market behavior.

Bitcoin’s Growing Sensitivity to Equities The growing sensitivity of Bitcoin to equities reflects deeper integration into traditional financial markets. Grayscale attributes this shift to increased institutional participation, including exchange-traded fund activity and changing macroeconomic risk sentiment. Bitcoin’s exposure to the stock market has intensified as more institutional investors and retail traders view it as a growth asset.

Bitcoin’s recent price decline, which saw a nearly 50% drop from its October 2025 peak of $126,000, highlights its volatility. This downturn, driven by several waves of selling starting in October 2025 and continuing into 2026, underscores its sensitivity to broader market forces. Furthermore, Grayscale mentions that “motivated US sellers” have contributed to Bitcoin’s recent price discounts, especially on platforms like Coinbase.

Grayscale remains optimistic about Bitcoin’s long-term potential, viewing it as a store of value due to its fixed supply and independence from central banks. Pandl notes that it would be unrealistic to expect Bitcoin to replace gold as a monetary asset in the short term, given gold’s historical role in the global economy. However, as the world becomes more digitized, Bitcoin could evolve in this direction over time, especially as the global economy embraces tokenized markets.

The Cardano price continued its strong downward trend, reaching its lowest level since October 2023, making it one of the crypto industry’s top laggards.

Summary

Cardano price dropped to a crucial support level this week. The developers are working on Pentad, which aims to grow the ecosystem. The coin has become highly oversold, with the RSI moving to 28. Cardano (ADA), a top layer-1 network, slipped to $0.2640, down over 80% from its December 2024 peak and 91% below its all-time high of $3 in 2021.

ADA extended its sharp decline despite several major catalysts, including this week’s CME futures launch and the upcoming Midnight mainnet debut. The futuress product made it available to American retail and institutional investors. 

Midnight, its upcoming zero-knowledge sidechain, is expected to launch either later this month or in March. Data shows that its testnet continues to perform well, having handled over 185,000 blocks and 295 million slots. NIGHT, its native token, has achieved a market capitalization of over $800 million.

Cardano’s developers are working to fix the network and attract more creators. They are working on the Leios upgrade, which will make it a faster network than many popular chains. 

At the same time, they are implementing the Pentad program, which aims to attract more oracle network, tier-1 stablecoins like USDT and USDC, and analytics tools. It has already attracted Pyth Network, a top oracle network, and Dune, a popular analytics tool.

Therefore, Cardano price is falling because of the ongoing crypto market crash, which has affected Bitcoin and most altcoins. 

Cardano price prediction: technical analysis ADA price chart | Source: crypto.news The weekly timeframe chart shows that ADA token has continued falling in the past few months. It has slumped from a high of $1.3230 in December 2024 to the current $0.2638.

The coin has dropped below the 50-week Exponential Moving Average, a sign that bears remain in control. Also, Cardano token has settled at the key support at $0.2212, the neckline of the head-and-shoulders pattern.

ADA has become oversold, with the Relative Strength Index at 28, the oversold level. The Stochastic Oscillator has also moved below the oversold line. 

Therefore, the coin may rebound in the coming days, potentially to the psychological level of $0.50. However, a drop below the current support level at $0.2212 will confirm more downside, potentially to $0.15.

Ripple has secured a new strategic partnership in the United Arab Emirates (UAE) as the country continues to position itself as a regional hub for digital assets and blockchain innovation. 

The company announced on Tuesday that it is expanding its relationship with Zand, a UAE‑based digital bank built around artificial intelligence (AI) and blockchain technology, to support the development of the digital economy through stablecoins and distributed ledger solutions.

Expanded Ripple And Zand Deal  Under the collaboration, Zand and Ripple will work together on a range of initiatives centered on Zand’s UAE dirham‑backed stablecoin, AEDZ, and Ripple’s US dollar stablecoin, RLUSD. 

According to both parties, the goal is to create new infrastructure and use cases that connect traditional financial services with on-chain systems within a regulated environment.

Reece Merrick, Ripple’s managing director for the Middle East and Africa, said in a social media post that the agreement builds on an earlier payments partnership between the two firms. 

He explained that Ripple and Zand are now expanding their cooperation to explore several areas, including support for RLUSD within Zand’s regulated digital asset custody platform, as well as direct liquidity solutions between RLUSD and AEDZ.

XRPL Deployment In The UAE According to the official statement, the expanded partnership will also focus on examining the feasibility of seamless liquidity between the two stablecoins and issuing AEDZ on the XRP Ledger (XRPL). 

Any deployment on XRPL would be accompanied by appropriate compliance standards, monitoring tools, and risk management controls, the companies said.

Zand’s Chief Executive Officer, Michael Chan, said the bank views stablecoins, blockchain technology, and tokenization as key building blocks as traditional finance increasingly moves on-chain. 

He described the partnership with Ripple as an important milestone for the growth of the digital asset ecosystem in the UAE, adding that it could reshape how governments and businesses interact with secure and trusted blockchain‑based solutions.

The 1-D chart shows XRP’s attempt to consolidate above $1.40. Source: XRPUSDT on TradingView.com At the time of writing, XRP was trading at $1.40. It has registered major losses of 26% and 33% over the past fourteen and thirty days, respectively. This positions the fifth-largest cryptocurrency 61% below its all-time high of $3.65. 

Featured image from OpenArt, chart from TradingView.com 

TLDR: Ondo Global Markets filed confidential SEC registration, first for transferable tokenized stocks globally.  Platform surpassed $500M total value locked and $10B cumulative trading volume in under six months.  Ondo supports all three major tokenization models with full SEC-registered infrastructure in the U.S.  SEC filing enables rapid global market expansion when regulatory conditions become favorable worldwide. Ondo Global Markets has confidentially submitted a registration statement to the U.S. Securities and Exchange Commission.

The filing represents a major development in the tokenized securities sector. Once effective, the company will become the first issuer of transferable tokenized stocks subject to SEC reporting requirements.

The move aims to provide comprehensive disclosures meeting regulatory standards for all global investors.

SEC Filing Sets New Disclosure Standard The registration statement filed by Ondo Global Markets will provide detailed issuer-level information to investors worldwide.

SEC filing requirements are widely recognized as the global benchmark for securities disclosure. The company voluntarily chose to meet these stringent standards.

This decision ensures that all investors in Ondo Global Markets products receive equal access to high-quality information.

The filing supports the free exchange of tokenized products onchain within legal boundaries. Transparency remains central to the platform’s regulatory approach.

Once the confidential filing becomes effective, Ondo Global Markets will be positioned to enter new markets rapidly.

The company can support primary and secondary market trading of tokenized securities globally. This expansion depends on favorable regulatory and market conditions in each jurisdiction.

Peter Curley, Head of Global Regulatory Affairs at Ondo Finance, commented on the development. “This confidential filing marks a pivotal moment in the global expansion of tokenized securities markets,” he stated.

“Setting this new disclosure standard for tokenized securities like the Ondo Global Markets products means there are really no barriers to offering the primary and secondary market trading of those products anywhere in the world when regulatory and market conditions are favorable. We’ve built the infrastructure, proven global demand, and are uniquely positioned to support every major model of securities tokenization — all within a fully compliant framework.”

Platform Growth and Infrastructure Capabilities Ondo Global Markets has emerged as the largest tokenized equities platform globally in under six months. The platform has surpassed $500 million in total value locked. This amount exceeds the combined TVL of all other competing platforms.

Trading activity on the platform has generated over $10 billion in cumulative volume. Tens of thousands of asset holders outside the United States have participated.

The platform already operates with an approved base prospectus for public offerings across the European Union and European Economic Area.

Ondo Finance has built comprehensive regulatory infrastructure to support securities tokenization in the United States.

The company operates an SEC-registered transfer agent, broker-dealer, investment adviser, and alternative trading system. These licenses enable the platform to tokenize corporate equities and funds while ensuring regulatory compliance.

The platform supports all three major tokenization models within the United States. These include direct ownership of traditional securities in tokenized form, tokenized beneficial ownership, and digitally-native tokenized securities.

No other platform has built comparable infrastructure to support every approach. This positions Ondo Finance uniquely in the evolving tokenized securities landscape as markets continue to develop.

By PYMNTS  |  February 10, 2026

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Tether invested in LayerZero Labs, the development company behind an interoperability protocol.

The move by Tether’s investment arm is a sign of its support for “the development of proven, production-grade interoperability infrastructure used across the global digital asset ecosystem,” according to a Tuesday (Feb. 10) press release.

Combined with Tether’s Wallet Development Kit, the infrastructure offers “the most advanced foundational rail for digital assets payments, settlements and custody for real-world use cases,” the release said.

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It is also designed for agentic finance, letting artificial intelligence agents operate their own autonomous wallets and transact with stablecoins and digital assets at scale, per the release.

LayerZero Labs has developed one of the most widely used bridging frameworks in the market, providing the technology that lets digital assets move securely and efficiently along blockchains, according to the release.

“Tether invests in infrastructure that is already delivering real-world utility,” Tether CEO Paolo Ardoino said in the release. “LayerZero Labs has built interoperability technology that allows digital assets to be transferred in real-time across any transport layer and distributed ledger, enabling a fundamental utility within the financial industry. This enables digital assets to serve the infinite agentic AI economy that will require such primitives to orchestrate micro-payments at an unprecedented scale.”

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The news came days after Tether made a $100 million investment into crypto-focused bank Anchorage Digital.

“This moment reflects years of deliberate execution,” the bank said at the time. “Tether’s investment is a strong signal of conviction from one of the most scaled and sophisticated operators in the digital asset ecosystem.”

Meanwhile, stablecoins have a growing role in the banking world. One of the clearest themes emerging from bank-led stablecoin projects is a focus on wholesale rather than retail use, PYMNTS reported Monday (Feb. 9).

“Unlike consumer-facing wallets or payment apps, most bank-issued stablecoins are designed to sit behind the scenes, improving the economics of existing processes,” the report said. “What’s taking shape is not a single ‘bank stablecoin’ model, but a family of instruments that reflect where inefficiencies are most painful, and where incumbents believe blockchain rails can quietly outperform legacy systems.”

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Bitcoin ETFs took a hit. The funds dropped below $100 billion in total assets after investors pulled $272 million from the products, marking a sharp reversal for what had been one of Wall Street’s hottest investment vehicles.

BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Trust led the decline, with both funds seeing significant redemptions as traders cashed out positions. The total assets under management across all spot Bitcoin ETFs now sits at $97.9 billion, down from peaks reached earlier this year. Year-to-date outflows have reached $1.3 billion as profit-taking accelerates and investors rotate into other assets. The crypto market faces stiff competition from traditional financial instruments, putting pressure on fund managers to retain investor interest.

BlackRock’s IBIT got hammered particularly hard.

The fund, which had attracted billions in inflows since its launch, saw substantial redemptions as institutional investors reassessed their crypto allocations. Fidelity’s FBTC didn’t fare much better, with the fund reporting similar outflows that contributed to the broader market decline. Both funds had previously been darlings of the investment community, drawing massive interest from retail and institutional players alike. But sentiment has shifted fast, and managers are scrambling to understand what’s driving the exodus.

Market watchers say the dynamics are changing rapidly. Investors are reshuffling their portfolios in response to recent volatility, and these moves are part of broader shifts in investment strategies across asset classes. Such portfolio adjustments hit Bitcoin ETFs hard, given their concentrated exposure to a single volatile asset. And the timing couldn’t be worse, with crypto markets already facing headwinds from regulatory uncertainty and macroeconomic pressures.

The outflows show just how volatile crypto investing can be. ETF managers are now examining new strategies to stem the bleeding and potentially attract fresh capital. Some are considering fee cuts or enhanced marketing efforts, but the path forward remains murky as market conditions continue to evolve. There’s no quick fix for this kind of investor flight.

BlackRock and Fidelity haven’t commented yet. The market waits for their responses. Strategic moves in coming weeks will be crucial for these funds’ futures.

Grayscale managed to hold its ground better than competitors, with its Bitcoin Trust maintaining around $10 billion in assets as of February 3. The firm’s experience in crypto markets probably helped it weather the storm more effectively than newer entrants. But even Grayscale isn’t immune to the broader market pressures affecting all Bitcoin investment products. More on this topic: Bitcoin Searches Explode as Price Crashes.

February has always been a tough month for crypto. Historical data shows similar patterns of investor behavior during this period, though the scale of current outflows exceeds previous years. Past trends suggest these cycles are somewhat predictable, but that doesn’t make them any easier for fund managers to navigate. The cyclical nature of Bitcoin investments creates challenges for maintaining steady asset flows.

The SEC keeps watching these developments closely. Regulatory oversight remains a key factor in ETF stability, and any new rules or guidance could dramatically impact future fund flows. The commission’s approach to approving new products or modifying existing regulations will shape the industry’s trajectory. No new directives have emerged yet, but market participants stay alert for any regulatory changes.

Institutional investors are rethinking their crypto strategies. Many are considering asset reallocation to reduce risk exposure, and these shifts will likely influence the ETF landscape significantly. The ongoing changes in institutional sentiment reflect broader concerns about cryptocurrency volatility and regulatory uncertainty. Detailed strategies from these large investors remain under wraps for now.

Bitcoin’s price volatility adds another layer of complexity. On February 2, Bitcoin traded around $35,000, creating additional uncertainty for ETF investors. The price swings make institutional players nervous, leading to position reevaluations across crypto-related assets. This volatility directly impacts ETF performance and investor confidence in these products.

Vanguard stays on the sidelines deliberately. A company spokesperson said February 3 that Vanguard continues focusing on diversified investment strategies rather than crypto-specific products. The firm’s cautious approach contrasts sharply with competitors who rushed into Bitcoin ETFs, highlighting different risk tolerance levels among major financial institutions.

JP Morgan analysts released research February 1 suggesting Bitcoin’s price movements will drive ETF flows in coming months. The report links investor sentiment closely to Bitcoin’s price stability, emphasizing the interconnected nature of crypto markets and ETF investment decisions. Such analysis helps explain why recent price volatility has triggered significant outflows from these funds. More on this topic: Bernstein Doubles Down on 0K Bitcoin.

Chicago Mercantile Exchange reported increased Bitcoin futures trading February 3. The volume spike suggests some investors are shifting to futures for Bitcoin exposure instead of ETFs. Trading pattern changes at CME provide insight into how market participants adapt to current ETF challenges. Futures offer different risk profiles that may appeal to certain investor types.

NYSE saw heightened volatility in Bitcoin-related stocks February 3, reflecting broader investor uncertainty. Companies like Coinbase and MicroStrategy, both with significant Bitcoin holdings, watched their stock prices swing in response to ETF outflows. The volatility demonstrates how cryptocurrency markets and traditional equity markets have become increasingly interconnected.

CoinShares data from February 2 shows institutional interest remains mixed despite outflows. While some investors withdraw funds, others use lower price levels to increase their Bitcoin holdings. The digital asset management firm’s research reveals a complex landscape where investor strategies vary widely based on risk tolerance and market outlook.

ARK Invest’s Cathie Wood maintains her bullish Bitcoin stance. During a February 4 webcast, Wood reiterated long-term positive views, emphasizing Bitcoin’s potential as a currency hedge. ARK’s confidence in Bitcoin’s future prospects remains unshaken by short-term market turbulence, though not all investors share this optimism.

Galaxy Digital CEO Mike Novogratz called current market dynamics a natural consolidation phase February 4. He sees these shifts as necessary for long-term growth and sustainability in crypto markets. Novogratz views recent market movements as part of an ongoing maturation process rather than a fundamental problem with Bitcoin investment products. Trading volumes at major exchanges support his consolidation theory.

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TL;DR

Visa moved stablecoin settlement to full production, integrating Ethereum as its primary rail for USDC. It processes over $3.5 billion in annualized volume, slashing settlement times from days to minutes. Ethereum serves as the high-security anchor, complemented by chains like Solana and Avalanche for speed. Visa no longer runs stablecoin settlement as a pilot program. The company moved the operation to production scale, integrating Ethereum as a live settlement rail that allows issuers and acquirers to close obligations directly in USDC, bypassing traditional bank transfers entirely. The system runs around the clock. Settlement times that once took days now close in minutes. Cardholders notice nothing — they still swipe a Visa card just as before.

By early 2026, Visa’s stablecoin settlement program processed more than $3.5 billion in annualized volume across multiple blockchains, with Ethereum serving as the primary layer for high-value flows. Lead Bank and Cross River Bank are among the first U.S. institutions to settle with Visa in USDC over public blockchains.

The architecture distributes volume across Ethereum, Solana, and Avalanche depending on speed and security requirements, with Stellar handling select cross-border cases. Ethereum anchors the entire structure because of its deep liquidity and decentralization.

The total annualized run-rate reached approximately $4.5 billion by early 2026. Against Visa’s $14.2 trillion in total annual payment volume, the share is still small. Against Ethereum’s on-chain stablecoin flows, the incremental gas demand registers as modest. Fee burn from Visa-related transactions alone does not move the needle in any immediate way. DeFi activity, Layer 2 transactions, and speculative trading all generate more gas pressure per dollar.

What Visa’s Entry Actually Does to Ethereum’s Position The real weight of the announcement sits in the narrative layer, not in the fee data. Ethereum now functions as a back-end settlement rail for a systemically important payment network.

That framing tends to carry more weight during risk-on periods, when institutions need justification to raise allocations. A rail that processes Visa settlements carries different connotations than a rail that only handles DeFi protocols. The distinction compresses perceived risk over time, even when on-chain fee impact stays low in the near term.

Stablecoin market cap now exceeds $250 billion, and Visa’s program represents a slice of a much larger institutional shift toward settling real-economy flows in on-chain dollars. More card transactions and cross-border payments settled in USDC deepen the dollar liquidity available on Ethereum, which makes the chain a more attractive venue for foreign exchange, money-market instruments, and tokenized assets.

Visa and Circle also explore Arc, Circle’s new Layer-1 chain, as an additional settlement venue. Visa participates as a validator. Some volume could shift there over time. Even so, Ethereum retains the anchor role for high-trust, security-sensitive flows. The likely end state distributes volume by function — Ethereum for settlement integrity, faster chains for throughput.

Over the next six to twelve months, the Visa news stream — new banks, new regions, new product integrations — builds the case for ETH more through institutional confidence than through cash-flow mechanics.

For anyone tracking macro dips in ETH, the Visa integration places a quiet but firm floor under the argument that Ethereum is losing relevance to competitors. The floor does not guarantee price appreciation. It does make the bear case harder to hold.

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The Pakistan Digital Authority (PDA) and the DFINITY Foundation have formalized a collaboration to advance sovereign cloud and AI-ready infrastructure for the country. As reported by PANews (https://www.bitget.com/amp/news/detail/12560605191787), the parties signed a memorandum of understanding to develop national digital capabilities on DFINITY’s internet computer (ICP).

The program includes building a Pakistan-specific subnet on ICP, planning a national messenger application, and establishing a local DFINITY presence to support long-term operations, according to ProPakistani (https://propakistani.pk/2026/02/10/swiss-company-is-entering-pakistan-to-help-build-local-cloud-services/). The scope signals an effort to localize critical workloads while enabling verifiable, tamper-resistant services.

Combined, these deliverables aim to provide domestic control over core platforms and expand access to AI tools for public bodies and builders. The arrangement is infrastructure-first, with further regulatory steps expected as services move from pilots to production.

Why a sovereign cloud matters for Pakistan’s security and resilienceA sovereign cloud places data residency, legal jurisdiction, and operational control within national borders. As reported by Axios (https://www.axios.com/2026/02/10/pakistan-dfinity-ai-cloud-sovereignty), Pakistan is seeking to reduce reliance on foreign cloud providers and keep sensitive information in-country while lowering barriers for entrepreneurs to build AI-native applications.

On ICP, a country-specific subnet is configured so computation and storage occur on nodes under agreed governance in the target jurisdiction. That structure is intended to improve auditability, mitigate cross-border exposure, and align services with local compliance requirements.

Officials characterize the collaboration as a resilience measure focused on secure public services and trusted digital rails. Dr. Sohail Munir, Chairperson , Pakistan Digital Authority, said, “This partnership marks an important step in Pakistan’s digital evolution.”

DFINITY frames the approach as pairing sovereignty with verifiability for next-generation software. Dominic Williams, Founder and Chief Scientist , DFINITY Foundation, said, “Pakistan is taking a forward-looking approach to digital infrastructure. By establishing a Pakistan Subnet and investing in sovereign, tamper-proof systems, the country is laying the groundwork for software and AI applications that are secure, verifiable, and built to serve national priorities.”

For government, a local ICP subnet can support services that require strict data residency, including identity, records, and communications. Tamper-evident execution may enhance integrity and reduce operational risk.

For startups, native access to compute and modern tooling on sovereign infrastructure could shorten build cycles and reduce vendor lock-in. A planned national messenger also opens integration paths for verified communications.

For students and universities, AI tools and verifiable compute environments can support research, coursework, and sandboxed experimentation aligned with domestic governance. This can broaden hands-on exposure to modern cryptographic and AI systems.

At the time of writing, Internet Computer (ICP) traded near $2.36 with approximately 17.91% recent volatility and an RSI around 35.18, based on data from Yahoo Finance (https://finance.yahoo.com). These figures are contextual and not investment guidance.

Implementation, governance, and rollout: how the Pakistan subnet will operateExecution phases, responsibilities, and compliance for PDA and DFINITYThe MoU establishes a cooperative framework in which PDA sets policy direction and public-sector priorities while DFINITY provides technical architecture, support, and a local presence for continuity. Detailed timelines are subject to regulatory clearances and procurement processes.

A pragmatic path typically moves from design and testing to limited pilots, then progressive scaling to priority services once security, performance, and compliance thresholds are validated. Governance would focus on data residency, incident response, auditability, and alignment with national directives.

Operations on a Pakistan subnet would rely on node providers that meet jurisdictional, security, and reliability requirements. Service-level objectives and change controls should be documented to support oversight and external audits.

Caffeine AI license allocation and startup access processAccording to TechJuice (https://www.techjuice.pk/pda-partners-with-dfinity-for-national-cloud-1500-ai-licenses/), the collaboration includes 1,500 licenses for DFINITY’s Caffeine AI platform: 1,000 designated for government use and 500 reserved for startups. The aim is to accelerate near-term experimentation and deployment.

PDA is expected to administer access for startups through a designated program with published eligibility, documentation, and usage terms. Final procedures and compliance conditions will be communicated before allocation.

FAQ about Pakistan Digital AuthorityHow does a Pakistan-specific Internet Computer (ICP) subnet keep sensitive data in-country?Subnet configuration confines compute and storage to domestically operated nodes, coupled with governance controls that enforce data residency, auditability, and jurisdictional compliance.

Who gets the 1,500 Caffeine AI licenses and how can startups apply for access?1,000 licenses support government projects; 500 are reserved for startups. Startups apply via a PDA-administered program once criteria, documentation, and terms are published.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Concerns over Strategy selling bitcoin are 'unfounded,' Michael Saylor saysStrategy Executive Chairman Michael Saylor affirmed the firm’s commitment to a long-term bitcoin strategy following major fourth quarter losses and a continued plunge in prices early this year. Feb 10, 2026, 7:18 p.m.

Concerns that Strategy (MSTR) will be forced to sell bitcoin BTC$68,867.78 amid falling prices are “an unfounded concern,” chairman Michael Saylor said during a CNBC interview, affirming the company’s commitment to ongoing purchases.

STORY CONTINUES BELOW

“Our net leverage ratio is half the typical investment grade company," Saylor said. "We've got 50 years worth of dividends and bitcoin, we've got two and a half years worth of dividends just in cash on our balance sheet ... we're not going to be selling, we're going to be buying bitcoin. I expect we'll be buying bitcoin every quarter forever.”

Last week, the company added 1,142 BTC to its holdings for roughly $90 million, at an average price of $78,815 per coin. The company’s total stack now stands at 714,644 coins, purchased for about $54.35 billion, bringing the average cost per bitcoin to $76,056 — well above the current price of around $69,000.

Saylor’s comments come as bitcoin has seen significant volatility (almost exclusively downward) over the past months, though he emphasized that swings are part of the asset’s design. “The key to keep in mind is that bitcoin is digital capital," he continued. "It's going to be two to four times as volatile as traditional capital like gold or equity or real estate. It's got two to four times the performance this decade of traditional capital. It's the most useful global capital asset in the world, you can put more leverage on it. You can trade it in more ways than any other kind of capital assets. So the volatility is the bug, but the volatility is the feature."

Strategy reported an operating loss of $17.4 billion and a net loss of $12.6 billion for the fourth quarter, reflecting largely non-cash mark-to-market accounting tied to bitcoin’s price decline. The results highlight how swings in the cryptocurrency’s value continue to influence the company’s financial statements despite its long-term investment strategy.

Saylor also addressed the notion that bitcoin’s current price levels could represent a new form of market maturity, which he characterized as a good thing.

Strategy’s balance sheet and its digital credit business are central to its strategy, Saylor said. The firm’s digital credit structure has emerged as one of the most actively traded credit instruments of the decade, generating substantially higher cash flow than traditional fixed-income products and far exceeding the trading volume of preferred stocks.

“There isn’t any credit risk in the balance sheet of the company,” he said.

Saylor declined to offer a short-term bitcoin price prediction but reiterated confidence in long-term performance. “I don't really make predictions over 12 months. I think that bitcoin is going to double or triple the performance of the S&P over the next four to eight years. And I think that's the only thing we need to know.”

Shares of the company are down 3% on Tuesday, bringing the year-to-date decline to 15% and the year-over-year fall to 60%.

More For You

Struggling Coinbase gets price target cut from JPMorgan ahead of Thursday earnings

2 hours ago

Shares of COIN are down nearly 30% this year, with analysts warning that softer trading and crypto prices are likely to weigh on revenue.

What to know:

JPMorgan cut its December 2026 price target on Coinbase to $290 from $399 ahead of fourth-quarter earnings, citing weaker crypto trading volumes, softer prices and slower USDC growth.The bank still rates Coinbase Overweight, but projects a sharp sequential drop in earnings and EBITDA, even after factoring in a full quarter of revenue from the Deribit derivatives acquisition.Other firms, including Barclays and Compass Point, are more cautious or bearish, warning that retail trading, blockchain rewards and subscription and services revenue may miss expectations and remain closely tied to overall crypto prices.

TL;DR

Michael Saylor confirmed that Strategy will execute quarterly Bitcoin purchases on a permanent basis, without conditioning the policy on price. He stated that a 90% drop, with Bitcoin near $8,000, would not alter the strategy or force sales from the treasury. The company has years of cash coverage, low leverage, and room to refinance. Michael Saylor confirmed in a CNBC interview that Strategy will buy Bitcoin on a quarterly and permanent basis, without conditioning that policy on price or market volatility. The company will maintain that approach even in the event of extreme declines in the asset.

The executive chairman of Strategy said that a 90% correction, leaving Bitcoin around $8,000, would not change the strategy or force sales from the corporate treasury. The company, formerly known as MicroStrategy, will continue accumulating BTC as part of its structural capital allocation.

Strategy holds a reserve of 714,644 BTC. Saylor indicated that no drawdown scenario would alter the decision to keep that balance. The purchase policy will be executed every quarter and has no defined time horizon.

Saylor Dismisses Forced Liquidation Rumors During the interview, Saylor described Bitcoin as digital capital, distinguishing it from traditional assets such as gold, equities, and real estate. Under his framework, that digital capital is designed to operate with higher volatility and to sustain superior returns over long periods. That characteristic does not condition Strategy’s corporate allocation.

Michael dismissed the risks of forced liquidation, despite Bitcoin’s price sitting roughly 50% below the highs recorded in October. As he explained, the company’s financial structure does not depend on short-term market movements.

Saylor said that Strategy has several years of cash coverage and decades of Bitcoin-linked value relative to its dividend obligations. Within that context, he noted that refinancing remains a viable option, even after the volatility seen between late 2025 and early 2026.

Strategy Maintains Low Leverage He also stated that Strategy’s level of leverage remains below the typical standards of investment-grade companies. That structure, he explained, limits financial risk and reduces the likelihood of forced selling.

Saylor reiterated that he does not contemplate a scenario in which Bitcoin goes to zero. At the same time, he reinforced his conceptual framework on social media, distinguishing between conventional capital and the digital capital represented by Bitcoin, as well as between traditional credit and digital credit.

His statements remove any speculation about tactical changes in Strategy’s treasury policy. The company will maintain direct and sustained exposure to Bitcoin, regardless of short-term price movements

The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

Happy Tuesday! CryptoQuant founder Ki Young Ju said bitcoin is "not pumpable right now," with $308 billion worth of inflows in 2025 coinciding with a $98 billion drop in market cap, as selling pressure overwhelms any multiplier effect.

In today's newsletter, Michael Saylor predicts bitcoin will "double or triple" S&P returns, BitMine buys another $84 million in ETH, South Korea launches an official probe into Bithumb, and more.

Meanwhile, jailed FTX founder Sam Bankman-Fried filed a motion seeking a new trial.

P.S. Don't forget to check out The Funding, a biweekly rundown of crypto VC trends. It's a great read — and just like The Daily, it's free to subscribe!

Saylor says bitcoin will 'double or triple' S&P returns over coming years, vows Strategy won't be selling Strategy Executive Chairman Michael Saylor said bitcoin will "double or triple" the S&P 500's returns over the next four to eight years despite recent market volatility.

Speaking Tuesday with co-anchor Andrew Ross Sorkin on CNBC's Squawk Box, Saylor also said Strategy will not sell its holdings under pressure and expects the company to keep buying bitcoin every quarter, "forever." Strategy continues to add to its bitcoin holdings even as the market value of its treasury now sits below its total acquisition cost after the pullback. The company disclosed Monday it bought another 1,142 BTC for about $90 million, lifting total holdings to 714,644 BTC, or more than 3.4% of bitcoin's 21 million fixed supply. CEO Phong Le recently told investors that Strategy's balance sheet would only face serious stress if bitcoin fell around 90% to roughly $8,000 and stayed there for five to six years. Saylor framed bitcoin's volatility as a feature rather than a flaw, arguing long-term investors focus on multi-year outperformance rather than short-term price swings. BitMine buys $84 million in ETH as Tom Lee calls market pullback 'attractive' entry point BitMine bought roughly $84 million worth of ether in a single day, acquiring another 40,000 ETH via FalconX and BitGo, according to onchain data.

The purchases lift BitMine's total holdings to nearly 4.4 million ETH, putting the company roughly 72% of the way toward its stated goal of accumulating 5% of Ethereum's circulating supply. The company also stakes roughly 67% of its ETH holdings, generating about $202 million in annualized revenue while maintaining its bullish bet on Ethereum. Executive Chairman Tom Lee framed the recent market pullback, with ETH now 57% below peak, as an "attractive" entry point, arguing that price lags the network's growing utility and long-term role in finance. South Korea launches probe into Bithumb over $43 billion fat-finger incident South Korea's Financial Supervisory Service launched a full-scale investigation into Bithumb after the crypto exchange mistakenly distributed about $43 billion worth of bitcoin to users in a platform error.

The incident saw Bithumb accidentally distribute "620,000 BTC" on internal ledgers during a promotional campaign after a staff member input rewards in BTC instead of Korean won, despite the exchange reportedly only holding around 46,000 BTC at the time. Bithumb said it recovered 99.7% of the misdistributed bitcoin and 93% of the 1,788 BTC that users sold. It also pledged 110% compensation to users affected by the subsequent price plunge on Bithumb, while announcing tighter internal controls and a $68 million user protection fund. The error intensified political and regulatory scrutiny, with lawmakers citing systemic risk management failures and pushing for tougher exchange rules as South Korea debates digital asset regulations. Vitalik Buterin sketches near-term vision for Ethereum's role in an AI-driven future Vitalik Buterin argued that Ethereum's role in an AI-driven future lies in shaping how systems interact, coordinate, and govern rather than racing toward artificial general intelligence.

He emphasized near-term tooling such as trustless and private AI access, including local large language models, cryptographic payments, and client-side verification to reduce reliance on centralized intermediaries. Buterin positioned Ethereum as a potential economic coordination layer where AI agents could transact, post collateral, and build reputational histories onchain. He also said AI could help scale governance and markets by augmenting human judgment in areas like prediction markets and DAO decision-making, aligning with his concept of "defensive acceleration." Backpack exchange reaches $1 billion unicorn valuation on tokenization push Backpack, the crypto exchange founded by former FTX employees, is in talks to raise $50 million at a $1 billion pre-money valuation, marking unicorn status, according to Axios.

The company outlined a tokenization plan that splits its total 1 billion exchange token supply between pre-IPO circulation and a large post-IPO treasury, which co-founder Armani Ferrante said is designed to prevent dumping on retail investors and align incentives long term. Backpack plans to airdrop 250 million tokens to early users while expanding beyond its wallet roots into a regulated spot and derivatives exchange, lending, and prediction markets. In the next 24 hours U.S. mortgage data are due at 7 a.m. ET on Wednesday. U.S. nonfarm payroll numbers follow at 8:30 a.m. U.S. FOMC member Michelle Bowman is scheduled to speak at 10:15 a.m. Avalanche is among the crypto projects set for token unlocks. Consensus Hong Kong, Bitcoin Investor Week, and Cayman Crypto Week continue. Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.

Disclaimer: This article was produced with the assistance of OpenAI’s ChatGPT/xAI’s Grok and reviewed and edited by our editorial team.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Ahmed Balaha

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Ahmed Balaha

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Aug 2025

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Ahmed Balaha is a journalist and copywriter based in Georgia with a growing focus on blockchain technology, DeFi, AI, privacy, digital assets, and fintech innovation.

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We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

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Bitcoin traders are glued to one price right now: $50,000.

After a brutal dip that saw prices flash below $60,000 for a hot minute, everyone’s wondering if we’ve finally hit rock bottom.

Yes, Bitcoin price bounced back above $70,000 temporarily, but here’s the thing, nobody’s really convinced this is “the bottom” just yet.

Key Takeaways Analysts warn the recent bounce to $71,000 may be a “bull trap” designed to liquidate shorts before a retest of $50,000 support. JPMorgan data indicates Bitcoin has traded below the estimated miner production cost of $87,000, a historical signal for capitulation. Technical patterns highlight critical support at $67,350, with a breakdown potentially opening the door to the $43,000 region. Weekly Close Shows Fragility Despite $70K ReboundBitcoin found its way back to $71,000 as the week kicked off. However, most find this rally looking sketchy.

Sure, we saw a 7% bounce from last week’s $60,000 bloodbath, but there’s basically no volatility around the weekly close. And when things look too calm after a crash, traders get suspicious.

Source: Bitcoin Liquidation Heatmap / HYBLOCKTrader CrypNuevo said on X: this whole move up looks like a calculated play to hunt down short positions stacked between $72,000 and $77,000.

If this “recovery” turns out to be fake, bears have one target in their crosshairs: $50,000.

Miner Costs and Stablecoin Flows Signal CautionHere’s a number that should make you nervous: $67,000. That’s what it costs miners to produce one Bitcoin.

BTC might be trading below that soon. Historically, the miner production cost acts like a safety net, prices usually don’t stay below it for long.

if this continues, miners start going broke. And when miners capitulate? They dump their Bitcoin to stay alive, which creates even more sell pressure. It’s a vicious cycle.

While the fundamentals look grim, there’s a massive pile of cash sitting on the sidelines. Stablecoin inflows just doubled to $98 billion.

They’re ready to buy… they’re just waiting for the right moment.

Next Steps: Bitcoin Price Technical Levels to WatchTraders are staring down at an interesting moment as inflation data drops this week. Right now, all eyes are on $67,350, that’s the support level holding this whole thing together.

If Bitcoin breaks below that? We’re looking at bearish flag patterns that could drag prices down to $50,000. Yeah, a potential 30%+ dive.

There’s a bullish scenario too. The magic number is $74,434. If BTC can reclaim and hold above that level, it kills the bearish setup and potentially opens the door back to $80,000.

Strategy (NASDAQ:MSTR) executive chairman Michael Saylor on Tuesday said the company won't sell Bitcoin (CRYPTO: BTC) even if it crashes to $8,000, pledging to refinance debt instead. The $8,000 Refinancing Pledge Saylor told CNBC the company has 2.5 years of cash to cover dividends and debt without raising money.

Gold demand reached a record $555 billion in 2025, driven by an 84% surge in investment flows and $89 billion in inflows into physically backed ETFs.

The World Gold Council reports ETF holdings climbed 801 tons to an all-time high of 4,025 tons, with assets under management doubling to $559 billion. US gold ETFs alone absorbed 437 tons, bringing domestic holdings to 2,019 tons, valued at $280 billion.

This indicated institutional repositioning.

Bitcoin, meanwhile, spent the first two months of 2026 shedding holders. US spot Bitcoin ETFs recorded net outflows of over $1.9 billion in January.

As of Feb. 9, spot Bitcoin ETFs globally held 1.41 million BTC valued at $100 billion, roughly 6% of Bitcoin's fixed supply. Yet, the tape suggests capital is moving out, not in.

The gold rally validates the debasement thesis, raising the question of whether Bitcoin captures any of the next wave of flows or whether allocators have already assigned it to a different risk bucket entirely.

What actually changedInvestment demand for gold reached 2,175 tons in 2025, an 84% jump year-over-year.

Using the World Gold Council's average price of roughly $3,431 per ounce, that translates to approximately $240 billion in notional investment demand. This figure is driven by ETF adoption, central bank buying, and concerns about currency stability rather than cyclical growth fears.

China's People's Bank bought gold for a 15th consecutive month, holding 74.19 million ounces valued at $369.6 billion as of January 2026.

The IMF notes global debt remains above 235% of world GDP, a backdrop that makes hard collateral appealing regardless of growth expectations.

Gold's 2025 run, which resulted in 53 all-time highs, wasn't a trade. It was a repricing of the role of strategic reserves amid persistent sovereign deficits and weakening confidence in the stability of fiat currencies.

Bitcoin's proponents argue it serves the same function: a non-liability asset immune to debasement. However, the ETF tape tells a different story.

While gold funds doubled assets under management, Bitcoin ETFs hemorrhaged capital. If allocators viewed the two as substitutes, the flows would track each other. They don't.

Metric2025 / Jan–Feb 2026 valueDirectionInterpretationGold: Total demand (value)$555B (2025)↑Record-scale demand value = “strategic collateral” repricing, not just cyclical buyingGold: Investment demand2,175t (2025)↑Investment-led bid (allocation behavior), consistent with macro/sovereignty hedgingGold: Physically backed ETF inflows$89B (2025)↑Institutional channel doing the work; ETF wrapper is the transmission mechanismGold: ETF holdings change+801t (2025)↑Holdings accumulation (not just price) → persistent positioning, not a quick tradeGold: End-year ETF holdings4,025t (all-time high, 2025)↑New “inventory” peak reinforces the idea of a structural allocation shiftGold: Gold ETF AUM$559B (2025)↑AUM doubling signals scale-up in institutional exposure and mandate adoptionGold: US gold ETFs absorbed+437t (2025)↑US institutions participated materially; not just EM/central-bank narrativeGold: US gold ETF holdings2,019t (2025)↑Deepened domestic stockpile supports “gold re-rating” / reserve-like framingGold: US gold ETF AUM$280B (2025)↑Concentrated capital base: US ETF complex is a major driver of the gold bidBitcoin ETFs: Net flow (US spot ETFs)–$1.9B (Jan 2026)↓De-risking / liquidation pressure; “tape” contradicts pure debasement narrativeBitcoin ETFs: Global holdings (spot ETFs)1.41M BTC (Feb 9, 2026)—Large installed base remains, but flows are the marginal signal (and they’re negative)Bitcoin ETFs: Value of holdings~$100B (Feb 9, 2026)—Size is meaningful, yet capital is leaking rather than compoundingBitcoin ETFs: Share of BTC supply~6% (Feb 9, 2026)—Concentrated “wrapper ownership” is large enough that flows can matter at the marginSmall percentages and big numbersThe hypothetical exercise is important because it quantifies the implications of small reallocations for Bitcoin's marginal bid.

Starting with global gold ETF assets under management of $559 billion, a 0.25% rotation would represent $1.4 billion, or roughly 19,900 BTC, at current prices of approximately $70,212. At 0.5%, doubling yields $2.8 billion and 39,800 BTC.

A full percentage point translates to $5.6 billion, enough to purchase approximately 79,600 BTC, equal to 6.3% of existing US spot ETF holdings or about 177 days of post-halving issuance at 450 BTC per day.

Using 2025 gold ETF inflows of $89 billion as an alternative base, the same exercise yields smaller but still meaningful figures. A 0.25% reallocation amounts to $222 million, or approximately 3,170 BTC, while a 0.5% reallocation amounts to $445 million and 6,340 BTC.

At 1%, the figure rises to $890 million and approximately 12,700 BTC.

A third base is based on the derived $240 billion in gold investment demand from 2025. Quarter-percent, half-percent, and one-percent reallocations translate to $600 million (8,550 BTC), $1.2 billion (17,100 BTC), and $2.4 billion (34,200 BTC), respectively.

These aren't forecasts. They're sensitivity checks. But they clarify the stakes: even a 0.5% allocation of gold ETF assets would represent an order-of-magnitude capital comparable to Bitcoin's worst monthly outflow in recent memory.

The problem is there's no mechanism forcing that rotation, and current behavior suggests allocators treat the two assets as complements in different portfolios rather than substitutes within the same mandate.

Table shows hypothetical Bitcoin demand if gold capital rotates: a 1% shift from gold ETF assets would equal $5.6 billion or 79,616 BTC, representing 6.27% of U.S. spot ETF holdings and 177 days of mining issuance.Jan. 30 tells you what Bitcoin isOn Jan. 30, gold dropped nearly 10%, its steepest single-day decline since 1983, after Kevin Warsh's nomination as Treasury Secretary triggered concerns about balance sheet tightening and the CME raised margin requirements.

Silver collapsed 27% the same day. Bitcoin fell 2.5% to around $82,300, explicitly tied by Reuters to liquidity fears stemming from the potential for a smaller Federal Reserve balance sheet.

Gold and silver didn't behave like stable insurance. They gapped down amid a hawkish liquidity shock and a wave of leverage unwinds. Bitcoin joined them.

By Feb. 9, gold had recovered to around $5,064 as the dollar weakened and markets repriced for rate cuts. However, the Jan. 30 tape revealed something critical: in 2026, Bitcoin still trades as a liquidity barometer during policy-tightening shocks, not as insurance against fiat debasement.

This distinction matters for the rotation thesis. If the primary catalyst driving capital into gold is sovereignty concerns and debt sustainability, Bitcoin theoretically benefits.

However, if the transmission mechanism involves tighter policy or margin calls, Bitcoin behaves more like risk-on leverage than like collateral.

Street forecasts remain bullish on gold. UBS targets above $6,200 per ounce later in 2026, JPMorgan $6,300, and Deutsche Bank $6,000. But those projections assume gold benefits from both debasement fears and safe-haven demand during stress.

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Bitcoin has demonstrated the former but not the latter.

When the debasement trade could favor BitcoinThe regime that supports Bitcoin is one in which markets expect easier policy, balance sheet expansion, and a weaker dollar. These conditions lift assets that benefit from abundant liquidity.

Reuters commentary explicitly links Bitcoin and gold to balance sheet expansion hedging, and the World Gold Council notes that falling yields, a weakening dollar, safe-haven demand, and momentum supported 2025 ETF inflows.

For Bitcoin to win rather than merely tag along, two conditions must hold: sustained spot ETF inflows rather than reflex bounces, and reduced leverage reflexivity that can amplify sell-offs during liquidity shocks.

Recent months show the opposite. Outflows have been persistent, and Bitcoin's correlation with risk assets remains high during stress.

A clean hypothetical illustrates the stakes: if Bitcoin captured 1% of global gold ETF assets under management in a debasement-driven regime, that would represent roughly $5.6 billion in incremental buying, about 80,000 BTC at $70,000, equal to 6% of current US spot ETF holdings.

That's not a small number. But it requires a catalyst strong enough to shift allocator behavior, not just to align narratives.

What to watchThe dollar and real-rate expectations will drive the next leg. DXY direction, explicit signals about balance sheet policy, and the speed of any Fed rate cuts will determine whether the environment favors hard assets broadly or just those with established safe-haven credibility.

The Jan. 30 shock demonstrated sensitivity to liquidity conditions. A reversal toward easier policy could flip the script.

ETF flows provide the clearest indication of allocator intent. Comparing weekly inflows into gold ETFs with daily flows into US spot Bitcoin ETFs will indicate whether capital treats Bitcoin as an alternative store of value or as a high-beta macro trade.

China's continued gold accumulation, spanning 15 consecutive months of central bank buying, supports its sovereignty bid for hard collateral and sets a baseline for how nation-states are positioning themselves.

Gold forecasts clustering around $6,000 to $6,300 per ounce create a testable scenario: if gold consolidates and then re-accelerates toward those targets, does Bitcoin follow or diverge?

The answer will reveal whether the debasement thesis translates into Bitcoin demand or whether institutional flows remain anchored to traditional hard assets with deeper liquidity and regulatory clarity.

Chart shows gold, silver, and Bitcoin all sold off on January 30 during a liquidity shock, with gold recovering to above $5,000 by February 9 while Bitcoin remained lower, indicating different recovery patterns.The underlying questionGold's $555 billion demand year wasn't about traders front-running inflation prints. It concerned central banks, sovereign wealth funds, and institutional allocators repositioning for a world in which debt levels, currency stability, and geopolitical fragmentation matter more than short-term growth cycles.

Bitcoin's case rests on the same macro logic, but its behavior during the Jan. 30 shock and the months of ETF outflows that preceded it suggests allocators still view it as a liquidity-sensitive asset rather than a liability-free reserve.

The rotation math shows what's possible if that perception shifts.

A 1% reallocation from gold ETF assets could move markets. However, possibility isn't probability, and current flows in the opposite direction.

Bitcoin doesn't need gold to fail. It needs a catalyst that convinces the same institutions driving gold's record year that Bitcoin belongs in the strategic collateral bucket, not the speculative beta sleeve. So far, that catalyst hasn't arrived.

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