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Global asset manager ProShares has listed a dedicated money market ETF, IQMM, for U.S. stablecoin issuers on the New York Stock Exchange (NYSE), The Block reported. The ETF is the first financial product designed to meet the reserve requirements of the U.S. stablecoin regulation known as the GENIUS Act, which took effect last July.

Simon Gerovich, CEO of the Japanese listed company Metaplanet, affirmed in a letter to shareholders that the company will maintain its strategy of accumulating Bitcoin despite its recent price plunge. He acknowledged that BTC is highly volatile, a fact all holders must accept. Gerovich explained that Metaplanet's investment is driven by Bitcoin's limited supply, increasing adoption, and its characteristics as a store of value, though he noted this does not eliminate the pain of a decline in asset value. He added his personal belief that BTC has likely formed a bottom around the $60,000 level. However, Gerovich stressed that the company's strategy remains unchanged regardless of price movements, stating that Metaplanet will continue to accumulate BTC and will not sell under any circumstances.

Crypto bank Anchorage Digital has launched Stablecoin Solutions, a new service that uses stablecoins for correspondent banking, CoinDesk reported. The service aims to replace complex and costly traditional correspondent banking relationships with an on-chain settlement system based on stablecoins. Anchorage plans to offer the service under its federal charter from the U.S. Office of the Comptroller of the Currency (OCC) and within the GENIUS regulatory framework for stablecoins.

New York-based crypto investment firm DBA has raised a $68 million second fund, The Block reported. This follows its first $50 million fund, which was established in 2023. The firm plans to invest primarily in early-stage projects. Its first fund invested in projects such as DoubleZero (2Z) and Monad (MON), as well as stablecoin app Payy, capital formation platform MetaDAO, and Bitcoin scalability solutions developer Alpen Labs. The second fund is reportedly set to focus on areas like decentralized derivatives exchanges, such as Hyperliquid (HYPE), and prediction markets.

Mike McGlone, a senior macro strategist at Bloomberg Intelligence who previously forecast that Bitcoin could collapse to $10,000, has revised his downside target to $28,000, CoinDesk reported. McGlone had faced criticism for his $10,000 prediction, with some arguing it could excessively stoke fear and negatively impact capital flows. In his new analysis, he stated that a drop to $28,000 is more likely than a plunge to $10,000, adding that investors should remain cautious about buying risk assets, including BTC.

Institutional investors are consistently buying Ethereum below the $2,000 level, even as the asset experiences its sixth consecutive month of decline, BeInCrypto reported. Citing an analyst, the outlet noted that this is Ethereum's longest downtrend since 2018. Despite growing concerns over unrealized losses, purchasing ETH below $2,000 is being viewed more as an opportunity than a risk. Inflows into accumulation wallets held by large-scale investors have reportedly reached an all-time high, with recent buyers including firms like Bitmine (BMNR) and K3 Capital. In contrast, the report added that retail investors are turning away from Ethereum, fatigued by its sideways price movement over the past five years.

Whale Alert reported that 290,010,321 USDC has been transferred from Coinbase Institutional to Coinbase. The transaction is valued at about $290 million.

Veteran trader Peter Brandt has predicted that the true bottom for Bitcoin is likely to emerge around this October, U.Today reported. He stated that BTC must surpass $93,000 to invalidate its current bearish structure, noting that the technical setup has deteriorated since the price fell below its January high of $92,000. Brandt added that the bottom of this cycle is likely to form in October, with prices expected to be between $42,000 and the low $60,000s.

Bitcoin cloud mining firm Bitdeer (BTDR) has announced plans to issue $300 million in convertible notes and conduct a direct sale of its Class A shares. According to CoinDesk, the proceeds will be used to fund capped call transactions to limit share dilution upon conversion of the new notes and to privately purchase a portion of its convertible notes due in 2029. The capital will also be allocated to expanding data centers, developing high-performance computing and AI cloud businesses, and creating ASIC-based mining equipment. Following the announcement, Bitdeer's stock fell 17% to a 10-month low. BTDR is currently trading at $8.29, down 13.88%.

The Layer 2 blockchain Sui (SUI) has introduced a custom PCR (Platform Configuration Register) verification feature, the project announced on its official X account. This feature proves that an application's code has not been hacked or manipulated when running within a special security zone called Marlin Nautilus. Sui added that this allows users to verify an app's security without any separate process.

Tradeweb Markets has partnered with prediction market Kalshi to make it easier for institutional investors to access prediction markets, according to Walter Bloomberg. As part of the partnership, Tradeweb will also invest a minority stake in Kalshi, and Kalshi's real-time data will be integrated into the Tradeweb platform.

The three major U.S. stock indices opened lower today. - S&P 500: -0.30% - Nasdaq: -0.40% - Dow Jones: -0.31%

Minneapolis Fed President Neel Kashkari, one of the most prominent crypto skeptics within the U.S. Federal Reserve, has stated that cryptocurrency is completely useless, according to Walter Bloomberg.

The pace of net inflows into spot Bitcoin ETFs has surpassed industry expectations, according to Bloomberg analyst Eric Balchunas. In a post on X, Balchunas noted that cumulative net inflows for the ETFs peaked at $63 billion last October and currently stand at $53 billion, marking a $53 billion increase in assets under management in just two years. He added that Bloomberg's own forecast for first-year net inflows was more optimistic than most, predicting a range of $5 billion to $15 billion.

Voltage has launched a programmatic revolving credit line that allows businesses to make instant payments and repay balances in U.S. dollars via the Lightning Network. According to The Block, the product is designed for companies that want to use the Bitcoin payment system without holding the cryptocurrency on their balance sheets. The offering aims to bridge a structural gap in corporate finance. There are no loan fees, and a fixed annual interest rate is applied to any outstanding balance.

Blockchain project Soil has launched a real-world asset (RWA)-based yield protocol on the XRPL that utilizes Ripple's stablecoin, RLUSD, The Block reported. The protocol is designed to allow RLUSD holders to earn a fixed income by depositing their crypto into on-chain vaults. An initial $1 million pool was filled within 72 hours of its launch. The developer, ORQO, holds regulatory licenses in Poland and Malta.

Artificial intelligence project Sentient (SENT) has announced the official launch of its foundation. The Sentient Foundation is a non-profit organization that aims to maintain open-source artificial general intelligence (AGI), ensure its development in a decentralized manner, and align it with the interests and values of all humanity. The foundation plans to support the open AGI ecosystem by establishing AGI standards and oversight systems, fostering global research collaboration, supporting open-source developers, building a governance framework, and hosting global forums.

CME Group plans to launch a 24-hour trading service for its cryptocurrency futures and options products starting May 29, Walter Bloomberg reported.

Blockchain-based online lending platform Figure has announced the launch of its stock token, FGRD. According to CoinDesk, FGRD is offered on Figure's on-chain public equity network, OPEN. Investors can invest in FGRD through the Figure Markets app and a network-integrated self-custody wallet. The stock token can also be used as collateral for loans on the DeFi protocol Democratized Prime.

According to CoinNess market monitoring, BTC has fallen below $66,000. BTC is trading at $65,966.01 on the Binance USDT market.

U.S. initial jobless claims for the second week of February totaled 206,000, coming in below the forecast of 229,000. Weekly jobless claims are a key indicator the U.S. Federal Reserve uses to gauge the health of the labor market when making interest rate decisions. A higher-than-expected number of claims can signal that companies are increasing layoffs, suggesting a cooling labor market and potentially providing the Fed with a reason to cut interest rates. Conversely, a lower-than-expected figure indicates a robust labor market, which could give the Fed grounds to hold or raise rates to focus on curbing inflation.

The U.S. Court of Appeals for the Second Circuit has overturned the conviction of FTX founder Sam Bankman-Fried. In a post on X, Bankman-Fried said the appeals court acknowledged that the trial judge, Lewis Kaplan, had improperly excluded several pieces of evidence. Bankman-Fried claimed Judge Kaplan repeatedly blocked his testimony and excluded all evidence at the government's request. He added that the court had refused to admit evidence showing that FTX's business practices were in line with industry standards, did not threaten the company's solvency, and that its structures and contracts had been drafted and approved by lawyers. Bankman-Fried stated that he welcomed the appeals court's decision to correct these issues.

BlackRock has deposited 1,270 BTC, worth $84.92 million, and 15,409 ETH, valued at $30.22 million, to Coinbase Prime, according to Onchain Lens. Coinbase Prime is a prime brokerage platform that facilitates large-scale trading and custody for institutional investors.

Morgan Stanley increased its stake in Bitmine by approximately 26% at the end of last year, bringing its total holdings to over 12.1 million shares, Cointelegraph reported. The position was valued at $331 million at the end of the quarter.

Thomas Perfumo, a global economist at Kraken, predicts a high probability of a Bitcoin rebound if the price stabilizes in the $65,000 to $70,000 range. In an interview with DL News, he noted that options traders are betting on reduced volatility for BTC within that range. Perfumo pointed to similar trends during BTC corrections in August 2004 and March-April 2005, when recovery rallies followed periods of large-scale selling and high volatility. Additionally, he explained that the Coin Days Destroyed (CDD) indicator, which tracks long-term holdings, has fallen to low levels after a spike in 2024-2025. This signals a decrease in selling from long-term investors, creating conditions for the market to stabilize as supply pressure eases, he added.