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Binance has expanded the reach of its wallet ecosystem by adding support for the TON blockchain, opening the door for millions of users to interact directly with TON-based applications.

With the update, Binance Wallet users can now store and manage TON assets, explore decentralized applications built on the network, and connect seamlessly to the TON ecosystem.
Key Takeaways
Binance Wallet’s TON integration expands access to dApps and developers, but puts its infrastructure to the test.TON’s complex sharding design boosts scalability, yet remains a challenge for multi-chain wallets under heavy load. 
For developers, the integration brings TON Connect into the Binance Wallet environment, offering access to a large base of verified users and simplifying onboarding for new dApps.
What the TON Integration Brings to Users and Developers
The addition strengthens TON’s position as an emerging smart contract platform, which currently holds close to $80 million in total value locked across its decentralized finance ecosystem. Users gain direct access to TON dApps without relying on third-party tools, while developers benefit from exposure to millions of verified wallet users through a single integration point.
Despite the growing infrastructure support, Toncoin’s market performance remains under pressure. The token is down nearly 60% over the past 12 months and is currently trading around $1.51, highlighting the gap between ecosystem development and price action.

The Sharding Challenge Behind the Scenes
A key question surrounding the rollout is whether Binance Wallet can smoothly handle TON’s underlying architecture. TON relies on sharding, a scaling approach that splits the blockchain into multiple parallel chains, allowing transactions to be processed simultaneously. While this boosts scalability, it also introduces complexity for wallets, which must track activity across many shards and correctly synchronize balances and transactions.
Under heavy network load, most multi-chain wallets struggle with this setup, often facing syncing delays or data inconsistencies. This makes TON support more demanding than traditional single-chain integrations and puts wallet infrastructure to a real technical test.
Binance has acknowledged these requirements and warned users to update their wallet extension to version 1.8.0 or higher to ensure full compatibility with TON features. The update is necessary for proper asset management and reliable dApp connectivity.
Overall, the integration marks a meaningful step for TON adoption by lowering barriers for both users and builders. Whether Binance Wallet can maintain performance as activity scales will be closely watched, especially as sharded blockchains continue to challenge multi-chain wallet infrastructure.
#TON

Bitcoin is heading into its largest options expiry of 2026, with more than $8.53 billion in BTC options set to expire this Friday at 08:00 UTC.

This event represents the biggest expiry of the year so far and arrives at a time when Bitcoin is trading near a critical technical zone around $90,000, making short-term price direction highly sensitive to major volatility swings.
Key Takeaways
Over $8.53 billion in Bitcoin options expire this week, the largest expiry of 2026Call options are heavily stacked near $100,000, while puts dominate around $85,000Max pain sits near $90,000, where option sellers benefit the mostShort-term price action is likely to be driven by hedging flows and dealer positioning
How Options Positioning Can Move Bitcoin’s Price
Large options expiries often influence spot price behavior due to hedging activity by market makers. With calls concentrated at $100,000, dealers who sold those calls may hedge by buying Bitcoin as price approaches higher levels, potentially amplifying upside moves. Conversely, heavy put positioning near $85,000 creates downside hedging pressure if price begins to slide toward that zone.
The max pain level at $90,000 is particularly important. This is the price at which the greatest number of options expire worthless, minimizing payouts for option buyers and benefiting sellers. Historically, Bitcoin often gravitates toward this level into expiry as hedging flows compress volatility. However, if price decisively moves away from max pain, volatility can accelerate sharply as hedges are adjusted.
Investors actively use this information to position for short-term volatility, favoring strategies such as reduced leverage, tighter risk management, or directional trades aligned with potential post-expiry breakouts.
Technical Structure: What the Chart Is Signaling
From a technical perspective, Bitcoin is currently trading around $90,100, holding just above a key horizontal support zone. The Relative Strength Index (RSI) is elevated near 68, indicating strong momentum but approaching overbought territory. This suggests buyers remain in control, but upside may be more reactive to catalysts rather than trend-driven in the immediate term.

Meanwhile, the Moving Average Convergence Divergence (MACD) remains positive, with momentum lines above the signal line, supporting the broader bullish structure. However, momentum has begun to flatten, aligning with the idea of price compression ahead of options expiry.
Volume remains moderate, reinforcing the notion that the market is waiting for a trigger - most likely the expiry itself - to define the next directional move.
What Investors Are Watching After Expiry
Once the options expire, two dominant scenarios tend to play out. If Bitcoin holds above $90,000 and reclaims the $92,000-$94,000 zone with volume, dealers may unwind hedges, opening the door for a momentum push toward $100,000, where call interest is heavily concentrated.
On the other hand, failure to hold $88,000-$89,000 could expose downside liquidity toward $85,000, where put positioning is strongest. In that case, volatility could expand quickly as protective hedges are triggered.
For many investors, the strategy is clear: expect volatility, respect key levels, and wait for confirmation after expiry rather than front-running the move. Historically, the most decisive trends often emerge after large options events, not before them.
Аlthough one of the major indicators for Bitcoin is the expected Fed rate decision later today. This event usually has impact for the investor sentiment and the price action. With the expectation of keeping the rate at its current level, investors will be closely watching Jerome Powell's comments on inflation and the jobs market, that could signal the next direction for both crypto and traditional markets.
#bitcoin

Memecoins are showing renewed strength as the crypto market attempts a short-term recovery ahead of the Federal Reserve’s interest rate decision later today.

While major cryptocurrencies remain largely muted, speculative tokens are starting to move, suggesting traders are cautiously rotating back into higher-risk assets.

Key Takeaways
Memecoins are rallying ahead of the Fed’s rate decision, even as the broader crypto market remains sluggish.Gold, silver, and the S&P 500 are hitting record highs, underscoring crypto’s continued underperformance.Pippin is leading the memecoin surge with a 50%+ daily jump, while DOGE and SHIB post modest gains.
Gold, Stocks Surge While Crypto Stalls Ahead of the FOMC
The latest memecoin rally comes against a striking macro backdrop. Traditional markets continue to outperform digital assets, with gold, silver, and other precious metals pushing to fresh record highs as investors seek safety. At the same time, the S&P 500 has climbed to new all-time highs, underlining strong momentum in equities.
Crypto markets, however, have failed to follow the same trajectory. Bitcoin and most large-cap altcoins remain range-bound, reflecting uncertainty ahead of the Federal Open Market Committee meeting. The Fed is widely expected to hold interest rates steady, reinforcing the current pause in policy as markets look for clearer signals on the next move.
Memecoins Lead a Short-Term Crypto Recovery
Despite broader weakness in crypto, memecoins have emerged as one of the few sectors showing meaningful upside. Over the past 24 hours, several well-known tokens have posted solid gains, signaling renewed speculative interest.
Dogecoin is up around 3.6% on the day, trading near $0.126 and maintaining a market capitalization above $21 billion. Shiba Inu has gained roughly 2.5%, holding around $0.0000078 with a market cap of about $4.6 billion. Pepe has also moved higher, rising just over 1% to approximately $0.0000050, pushing its valuation above $2 billion. Pudgy Penguins has outperformed most peers, jumping nearly 8% to around $0.010, with a market cap close to $640 million.
Pippin Steals the Spotlight With a 50% Daily Rally
The most dramatic move in the memecoin space belongs to Pippin. The token has surged more than 50% in the past 24 hours, climbing to around $0.49 and lifting its market capitalization to roughly $490 million, briefly approaching the $500 million milestone.

Pippin’s sharp rally stands out even within the volatile memecoin sector and highlights how quickly capital can rotate into smaller, high-beta assets when sentiment improves, even if only temporarily.
Conclusion: Rally or Short-Lived Bounce?
Although memecoins are surging ahead of the Fed’s rate decision, the broader market environment still points to caution. The general tone across global markets remains risk-off, driven by fears of a potential U.S. government shutdown, ongoing dollar weakness, and elevated geopolitical uncertainty. In that context, the current memecoin rally may reflect short-term speculation rather than a broader shift in risk appetite.
#Memecoins🤑🤑

WisdomTree has expanded its suite of regulated tokenized funds to the Solana blockchain, marking one of its most significant non-EVM deployments to date and reinforcing its multi-chain digital asset strategy.

The move enables both retail and institutional investors to access WisdomTree’s tokenized products natively on Solana through the firm’s WisdomTree Connect™ and WisdomTree Prime® platforms.
Key takeaways:
WisdomTree is extending regulated tokenized funds beyond EVM chains with a major Solana deployment. The integration provides native onchain access for both retail and institutional investors. Solana becomes one of the firm’s most important non-EVM networks for real-world asset tokenization.
With this integration, WisdomTree now offers its full lineup of tokenized money market, equity, fixed income, alternative, and asset allocation funds on Solana, alongside stablecoin conversion services using USDC and PYUSD. The expansion builds on the firm’s existing presence across Ethereum, Arbitrum, Avalanche, Base, Optimism, and Stellar, further positioning WisdomTree as one of the most active traditional financial institutions bridging regulated real-world assets with onchain infrastructure.
According to Meredith Hannon, Head of Business Development for Digital Assets at WisdomTree, Solana’s high-performance infrastructure was a key factor behind the decision. The network’s speed and low transaction costs allow the firm to meet growing crypto-native demand while maintaining the regulatory and compliance standards expected by institutional investors. The move reflects WisdomTree’s broader focus on delivering regulated, scalable access to tokenized financial products across multiple blockchains rather than relying on a single ecosystem.
Solana Price Action and Market Context
At the time of the expansion, Solana is trading around $127, following a period of heightened volatility earlier in the month. After peaking near the mid-$140s, the asset experienced a sharp drawdown toward the low-$120s before stabilizing and attempting to recover. This consolidation phase suggests the market is absorbing recent selling pressure while evaluating new catalysts, including increased institutional activity tied to real-world asset tokenization.

Technical Indicators Signal Stabilization
From a technical perspective, momentum indicators point to a neutral-to-constructive setup. The Relative Strength Index is hovering in the mid-50s, indicating balanced conditions with neither overbought nor oversold pressure dominating.
Meanwhile, the Moving Average Convergence Divergence is flattening near the zero line, suggesting bearish momentum has faded and the market may be transitioning into a range-bound or recovery phase. If price continues to hold above recent support levels, the expanding institutional footprint on Solana - highlighted by WisdomTree’s deployment - could reinforce confidence in the network’s longer-term fundamentals.
What Investors Should Watch Near Key Support
With Solana consolidating around the $125–$130 zone, this area is emerging as a critical near-term support level. Sustained holding above this range would suggest that recent selling pressure has been absorbed and that market participants are beginning to price in longer-term fundamentals, including growing institutional adoption through tokenized real-world assets. A breakdown below recent lows, however, could signal that broader market risk-off conditions are outweighing network-specific catalysts, delaying any upside response to developments such as WisdomTree’s expansion.
Beyond short-term price fluctuations, investors should closely monitor onchain activity tied to institutional platforms and regulated tokenized products on Solana. Increased usage of WisdomTree Connect and Prime on the network could translate into higher transaction volumes, deeper liquidity, and stronger demand for Solana’s blockspace. While this adoption may not immediately reflect in price, it strengthens the medium-term narrative by positioning Solana as a credible settlement layer for regulated financial products, a factor that historically supports valuation expansion once broader market conditions turn favorable.
#solana

Across Europe, stablecoins are beginning to slip into the existing financial system not through disruption, but through compliance.

Instead of bypassing banks or card networks, crypto firms are increasingly choosing to integrate directly into them, aligning with regulators rather than challenging them.
Key Тakeaways
Stablecoins are moving into everyday payments through regulated card networks in EuropeOKX is integrating crypto spending within the EU’s compliance frameworkFull KYC and AML checks remain mandatory for users
This shift reflects a broader reality of the European market: crypto payments are welcome, as long as they behave like traditional financial products.
Cards, not wallets, are doing the heavy lifting
While self-custody and on-chain transfers remain central to crypto ideology, real-world spending is still dominated by card networks. That gap is now being bridged by crypto-native firms choosing to wrap blockchain balances in familiar payment formats.
One of the latest examples comes from OKX, which has introduced a Europe-focused payment card that converts stablecoin balances into merchant payments wherever Mastercard is accepted.
Instead of supporting volatile assets, the card is limited to dollar-pegged stablecoins, including USDC and Global Dollar, positioning it as a payments tool rather than a trading extension.
Why this works in Europe and not everywhere
Europe’s regulatory structure is what makes this model viable. Under Markets in Crypto-Assets Regulation, crypto firms can operate across the bloc if they meet uniform licensing, capital, and compliance standards.
OKX operates as a registered crypto-asset service provider, while the card itself is issued by Monavate, a licensed EMI that handles the regulatory obligations tied to payments, identity checks, and transaction monitoring.
This separation of roles allows crypto firms to offer consumer-facing products without directly holding responsibility for payment issuance.
Compliance is the product, not a side feature
Despite being connected to a self-custodial wallet inside the OKX app, access to the card is gated behind full identity verification. There is no anonymous usage, no partial access, and no opt-out from monitoring.
That design choice reflects Europe’s policy stance: crypto may innovate at the asset layer, but payments remain firmly under financial supervision.
The result is a product that looks familiar to regulators, banks, and card networks - even if the funds originate on-chain.
Stablecoins shift from markets to utility
What makes this development notable is not the card itself, but what it represents. Stablecoins are slowly transitioning from trading instruments into functional money, at least within regulated environments.
Rather than replacing existing systems, they are being embedded into them. For users, this means spending crypto without learning new tools. For regulators, it means retaining oversight. For card networks, it means absorbing a new source of transaction volume.
A sign of where crypto payments are headed
Europe is emerging as a proving ground for this model. Clear rules, strict enforcement, and harmonized licensing create conditions where crypto payments can scale without triggering policy backlash.
For OKX, the card is less about innovation and more about alignment. And for the broader market, it signals a future where stablecoins don’t compete with traditional finance - they operate inside it.
#stablecoin

As Ripple accelerates its push into new corners of crypto finance, speculation has been building that the company might be quietly shifting its priorities.

The rollout of a stablecoin, deeper institutional services, and custody solutions sparked fresh debate about whether XRP still sits at the center of Ripple’s plans - or whether it is slowly becoming secondary.
Key Takeaways
Ripple is responding directly to renewed doubts about XRP’s relevanceExecutives say expansion does not come at the expense of the token
XRP is framed as infrastructure rather than a legacy assetA February community event aims to clarify XRP’s role in Ripple’s future
Those assumptions, according to Ripple executives, miss the bigger picture.
Ripple’s answer to the market narrative
Company leaders say expansion does not equal abandonment. Instead of replacing XRP, Ripple argues that its newer products are being layered on top of an existing foundation where the token continues to play a key role. The firm’s view is that growth requires more infrastructure, not a different one.
That message was reinforced this week when a Ripple executive addressed the community directly, pushing back against claims that XRP’s relevance is fading as the company diversifies.
XRP as infrastructure, not a legacy product
Internally, Ripple frames XRP less as a standalone asset and more as a structural component. Ripple has consistently described the token as something that underpins how its technology stack operates, even as the business moves beyond its early focus on cross-border payments.
This positioning suggests XRP is meant to scale alongside the company rather than be left behind by it.
What Ripple leadership has said before
That same stance has been echoed by CEO Brad Garlinghouse, who has previously stated that Ripple’s acquisitions and product expansion are designed with XRP in mind. His remarks were aimed at reassuring long-time holders that the company’s evolution strengthens, rather than weakens, the token’s strategic role.
According to leadership, Ripple’s shift toward institutional finance is intended to increase the ways XRP can be integrated, not reduce them.
A February event meant to reset expectations
To address lingering doubts, Ripple is preparing a public conversation focused on how XRP fits into its broader roadmap. The session, scheduled for February, is expected to explain how the company’s changing business model aligns with its long-term token strategy.
Led by Monica Long, the discussion will take place on X Spaces and is framed as a chance to provide clarity rather than unveil new products.
Ripple’s message going forward
As Ripple continues to evolve, it appears increasingly focused on managing perception as much as execution. The company’s position is that growth into stablecoins and institutional services does not dilute the importance of XRP - it reinforces why the token exists in the first place.
#Ripple

Institutional positioning across crypto exchange-traded products showed clear divergence on January 27, with Bitcoin and Ethereum ETFs remaining under pressure, while Solana and XRP products attracted selective inflows.

The data highlights a cautious stance toward larger, more mature assets, contrasted with targeted risk-taking in specific altcoin exposures.
Key takeaways:
Bitcoin and Ethereum ETFs continued to see net outflows, signaling ongoing institutional caution toward large-cap crypto exposure.Solana ETFs recorded modest inflows, pointing to selective risk appetite rather than broad market confidence. XRP ETFs stood out with the strongest net inflows of the day, suggesting growing institutional interest in specific altcoin narratives despite overall defensive positioning.
Bitcoin ETFs recorded another net outflow day, extending a multi-session streak of capital leaving spot Bitcoin products. Total net flows for the day came in at approximately –$147.4 million, driven primarily by redemptions from major issuers. BlackRock’s IBIT and Fidelity’s FBTC once again accounted for the bulk of the outflows, reinforcing the view that institutional investors are trimming Bitcoin exposure rather than rotating within the ETF complex. Smaller products saw minimal activity, offering little offset to the broader selling pressure.
Ethereum ETFs followed a similar pattern, posting net outflows of around –$63.6 million on the day. Selling was concentrated in core funds, while products with staking exposure failed to attract meaningful fresh inflows. Despite Ethereum’s broader ecosystem developments, ETF investors appear hesitant to increase allocations in the current market environment, suggesting that macro conditions and risk appetite remain the dominant drivers.
Selective Altcoin Exposure Emerges
In contrast, Solana ETFs delivered a modest but notable net inflow of roughly $1.9 million. While small in absolute terms, the inflow stands out against the broader weakness in Bitcoin and Ethereum products. Activity was concentrated in a limited number of funds, signaling selective positioning rather than broad-based accumulation. The data suggests that some investors are willing to express higher-beta views through Solana while reducing exposure to the largest crypto assets.
XRP ETFs posted the strongest relative performance of the day. Total net inflows reached approximately $4.81 million, led by sizable contributions to Bitwise’s XRP ETF and Franklin’s XRP product. The absence of meaningful outflows across competing vehicles points to a more constructive institutional stance toward XRP, potentially reflecting expectations around regulatory clarity or relative value compared with other large-cap digital assets.
What the Flows Are Telling the Market
Overall, the January 27 ETF data underscores a market that remains defensive at the top while selectively rotating into specific altcoin narratives. Persistent outflows from Bitcoin and Ethereum ETFs indicate that institutional investors are not yet prepared to re-risk broadly, even as prices stabilize. At the same time, modest but consistent inflows into Solana and XRP products suggest that capital is not leaving the crypto space altogether, but is instead becoming more tactical and selective.
#CryptoETF

The U.S. crypto market is entering a pivotal moment as the Senate prepares to vote on the long-awaited Crypto Market Structure Bill on Thursday at 3:00 PM ET.

The legislation is widely seen as one of the most consequential regulatory developments for digital assets in years, with the potential to bring long-sought clarity to how cryptocurrencies are classified, regulated, and overseen in the United States.
Key Takeaways
The U.S. Senate is set to vote on a comprehensive crypto market structure bill, a major regulatory milestone for the industryThe legislation aims to clarify jurisdiction between regulators and define how digital assets are classifiedMarkets are reacting positively, with major cryptocurrencies posting gains ahead of the vote
If passed, the bill would establish clearer rules around which digital assets fall under securities regulation and which are treated as commodities, addressing a long-standing source of uncertainty for exchanges, developers, and institutional investors. Industry participants have argued for years that regulatory ambiguity has slowed innovation, pushed companies offshore, and increased compliance risks for firms operating in the U.S.
Markets React Ahead of the Vote
Crypto markets appear to be cautiously optimistic as the vote approaches. Total crypto market capitalization is hovering around $3.03 trillion, up nearly 2 percent on the day. Bitcoin is trading near $89,300, posting modest gains, while Ethereum has climbed above $3,000, outperforming the broader market. Several large-cap altcoins, including BNB, XRP, and Solana, are also showing positive momentum, suggesting improving risk sentiment across the sector.
Market indicators reflect a measured but constructive backdrop. The Fear and Greed Index remains in “fear” territory, signaling that traders are still cautious, while the Altcoin Season Index sits below thirty, indicating Bitcoin continues to dominate market leadership. This combination suggests investors are positioning selectively rather than embracing broad risk-on behavior.
Trading activity has also picked up across derivatives markets, with open interest rising modestly on major exchanges as traders position for potential volatility around the vote. Funding rates remain largely neutral, suggesting leverage is still restrained and that the current move is being driven more by spot demand than speculative excess. This dynamic points to cautious accumulation rather than aggressive positioning, a pattern often seen ahead of major macro or regulatory events.
Notably, sector rotation within crypto markets remains selective. While Bitcoin continues to anchor overall market direction, strength in Ethereum and several large-cap altcoins indicates growing confidence in assets that could benefit directly from regulatory clarity—particularly those tied to decentralized finance, tokenized assets, and infrastructure. However, with sentiment indicators still subdued, investors appear to be waiting for confirmation from policymakers before committing to a broader risk-on stance.
Why This Vote Matters
Beyond short-term price action, the Senate vote could mark a turning point for the U.S. crypto industry. Regulatory clarity may open the door for deeper institutional participation, accelerate product approvals such as spot exchange-traded funds, and reduce the threat of enforcement-driven regulation. At the same time, failure to pass the bill could reinforce uncertainty and prolong regulatory fragmentation.
With lawmakers signaling that crypto policy is becoming a legislative priority, the outcome of this vote may shape the trajectory of the U.S. digital asset market for years to come. For now, investors and industry leaders alike are watching closely as Washington prepares to make a decision that could redefine the rules of the game.
#crypto

A new proposal in the Midwest is pushing Bitcoin out of the political sidelines and straight into state-level treasury discussions, as lawmakers debate whether the asset belongs alongside bonds and public funds.

Instead of treating Bitcoin as a speculative experiment, legislators in South Dakota are exploring its role as a long-term financial hedge. A newly introduced bill would give the state’s Investment Council permission to allocate part of its reserves into Bitcoin, effectively laying the groundwork for a state-level Bitcoin reserve.
Key Takeaways
South Dakota is considering adding Bitcoin to its state investment reserves.Any Bitcoin allocation would be capped at 10% of available funds.The proposal emphasizes strict custody, security, and institutional controls.
The idea comes from Logan Manhart, who argues that digital scarcity and decentralization could offer protection similar to hard assets in an era of fiscal uncertainty. The proposal sets a clear boundary: no more than 10% of available state funds could be deployed into Bitcoin, ensuring that exposure remains controlled rather than dominant.
Bitcoin joins the institutional conversation
If approved, Bitcoin would sit within the same investment framework as traditional instruments such as government securities and exchange-traded products. Rather than forcing direct ownership, the bill allows flexibility - the state could hold Bitcoin directly, rely on regulated custodians, or gain exposure through exchange-traded vehicles.
This approach mirrors a broader institutional trend where public entities are no longer debating whether Bitcoin exists, but how it should be handled responsibly within existing financial systems.
Security first, speculation second
One of the most distinctive elements of the proposal is its emphasis on operational security. Any direct Bitcoin holdings would remain under the exclusive control of the State Investment Council, with private keys protected through hardware-based encryption. Those keys would be split across multiple secure locations, reducing single-point-of-failure risks.
On top of that, the bill outlines strict governance measures: multi-party authorization for transactions, disaster recovery planning, regular penetration testing, and ongoing audits. The message is clear - if Bitcoin is treated as public money, it must meet institutional-grade security standards.
National momentum shapes local decisions
South Dakota’s move doesn’t exist in isolation. At the federal level, discussions around a Strategic Bitcoin Reserve continue, with advisers to President Donald Trump confirming that digital assets remain part of the administration’s long-term financial strategy.
Several states have already taken concrete steps. Texas publicly disclosed a Bitcoin purchase last year, signaling that state treasuries are increasingly willing to experiment beyond fiat-only reserves.
What comes next
The bill, known as House Bill 1155, still faces committee scrutiny before it can advance further. But regardless of its final outcome, the proposal highlights a growing shift in public finance: Bitcoin is no longer just a market instrument. For some policymakers, it is becoming a candidate for reserve status, debated not on hype, but on custody, limits, and long-term risk management.
#bitcoin

Crypto payments infrastructure is starting to look less like an experiment and more like a core layer of the digital economy.

That shift is now being reflected in valuations. Mesh Connect has reached unicorn status after closing a new funding round that values the company at $1 billion, a milestone driven not by user growth hype but by real transaction volume flowing through its network.
Key Takeaways
Mesh reached a $1B valuation driven by real crypto payment volume, not hype.Investors are betting on crypto infrastructure, not consumer apps.Mesh aims to expand globally as crypto payments scale.
The bet investors are actually making
Mesh doesn’t compete with exchanges, wallets, or payment apps. Instead, it sits underneath them.
Its role is to solve a growing problem in a tokenized economy: fragmentation. As crypto spreads across dozens of wallets, blockchains, and platforms, businesses need a single way to interact with users’ assets without building endless custom integrations. Mesh positions itself as that neutral connection layer.
Investors backing the latest round, led by Dragonfly Capital, are effectively betting that the most valuable companies in crypto payments won’t be consumer-facing brands, but the infrastructure quietly routing value between them.
Volume, not sign-ups, changed the story
Mesh has been on investors’ radars for years, but what unlocked this round was scale. The platform is now handling close to $10 billion in transactions every month, a level that signals real economic usage rather than early experimentation.
That shift marked a turning point. Earlier phases were defined by onboarding and integrations. The current phase is defined by flow — payments actually moving across the system at speed and consistency.
This acceleration helped justify participation from firms such as Coinbase Ventures and Paradigm, alongside other fintech-focused backers.
Where Mesh already shows up
Most end users don’t know they’re using Mesh — and that’s intentional.
Behind the scenes, PayPal relies on Mesh to allow merchants to accept crypto from multiple wallets while avoiding direct exposure to volatility. Payments can arrive in crypto, but merchants receive fiat or PayPal’s stablecoin instead.
Beyond payments, platforms like Revolut and Kalshi use Mesh to connect crypto functionality into their broader financial products without rebuilding infrastructure from scratch.
Regulation quietly unlocks adoption
Timing also matters. Investors point to clearer rules around stablecoins in the US as a catalyst that made companies more willing to build crypto-native payment features. With legal uncertainty reduced, product teams shifted from “pilot mode” to production.
That change didn’t just increase sign-ups — it increased usage, which is ultimately what infrastructure businesses live or die on.
Scaling the plumbing, not the brand
Mesh plans to use its new capital to expand internationally, focusing on Latin America, Asia, and Europe. The strategy is not to chase consumers directly, but to embed itself deeper into local fintechs, payment processors, and platforms.
The underlying thesis is simple: as crypto becomes a standard financial rail, the companies routing transactions between wallets, banks, and merchants may end up more defensible — and more valuable — than the apps users see on the surface.
#crypto

Stablecoins are increasingly looking less like a competitive market and more like a tightly controlled duopoly.

New data shows that just two issuers dominate nearly the entire sector, raising fresh questions about how upcoming U.S. regulation could reshape capital flows rather than stabilize them.
Key Takeaways
Tether and Circle control about 87% of the global stablecoin market, leaving little room for competitors.Proposed U.S. rules would ban yield on payment stablecoins despite Treasury-backed returns.Yield demand shifts offshore or into synthetic and less transparent dollar alternatives.Restrictions may weaken regulated stablecoins while accelerating growth in gray zones.
At the center of the market sit Tether and Circle, which together account for roughly 87% of global stablecoin supply. Tether’s USDT alone commands about 62% of the market, while Circle’s USDC contributes another 25%. Everything else - including yield-bearing stablecoins - is reduced to a thin slice of the pie.
A market already concentrated
The chart highlights just how little room is left for alternatives. The top yield-bearing stablecoins combined represent only around 6% of total market share, while all remaining issuers together make up roughly 7%. In other words, the stablecoin economy is already highly centralized before regulators even step in.
That context matters as U.S. lawmakers debate new rules for so-called payment stablecoins. Under current proposals, these tokens would be prohibited from offering yield to users, even though they are typically backed by short-term U.S. Treasury bills yielding roughly 3% to 4%.

Who captures the yield
The result is a widening disconnect between where value is generated and who receives it. While reserves earn steady returns through government debt, those gains are captured by issuers and banking partners. End users, meanwhile, earn nothing for holding assets that function as digital cash equivalents.
From a capital allocation perspective, that trade-off is increasingly difficult to justify. Markets tend to adapt quickly when incentives are misaligned, and demand for yield does not simply vanish because regulation restricts it.
Capital finds another path
Instead, yield-seeking behavior shifts elsewhere. Some of it moves offshore, beyond the reach of U.S. frameworks. Some flows into synthetic dollar products such as Ethena’s USDe. Other capital migrates into more complex or less transparent structures that sit in regulatory gray zones.
Ironically, this dynamic risks undermining the very stability policymakers aim to protect. By restricting yield on the most regulated and transparent stablecoins, growth pressure is redirected toward products with higher opacity and potentially higher systemic risk.
Stability with unintended consequences
The stablecoin market was already consolidated long before these proposals emerged. By banning yield on compliant payment stablecoins, regulators may be reinforcing that concentration while simultaneously weakening the competitive position of the safest products.
In practice, the rules could lead to less oversight, not more, as activity migrates away from the most visible corners of the ecosystem. The attempt to impose stability may end up exporting risk instead.
#Stablecoins

American Bitcoin is quietly reshaping its position in the public crypto hierarchy, using balance-sheet accumulation rather than stock performance to signal conviction.

While Bitcoin has struggled to hold recent highs, American Bitcoin continued to add to its holdings, lifting its total stash to nearly 6,000 BTC. At current prices, the company’s reserves are worth just over half a billion dollars, placing it firmly among the larger publicly listed Bitcoin holders.
Key Takeaways
American Bitcoin increased its BTC holdings, strengthening its treasury despite market weakness.The company climbed into the top 20 public Bitcoin holders in just months.The stock reaction was brief, highlighting the gap between treasury growth and market sentiment.
The move reinforces the firm’s strategy of prioritizing long-term Bitcoin exposure over short-term market timing, even as volatility persists across both crypto and equities.
Stock reaction proves fleeting
The disclosure sparked a brief positive reaction in early trading, with shares ticking higher before the market opened. That optimism faded quickly. By the time regular trading began, the stock had given back those gains and remains meaningfully lower for the year.
The response reflects a broader disconnect seen across crypto-linked equities: additional Bitcoin accumulation no longer guarantees sustained upside when the underlying asset is under pressure.
Ranking jumps faster than the share price
Where the impact is more visible is in American Bitcoin’s standing relative to peers. The latest addition pushed the company into the top 20 global public Bitcoin treasury holders, a notable climb achieved in less than five months as a listed firm.
That ascent underscores how aggressively the company has accumulated BTC compared with many longer-established players, even as market conditions turned less favorable.
Yield story meets market reality
Internally, management points to strong Bitcoin yield metrics since the company’s listing, highlighting how quickly reserves have expanded. Externally, investors appear more cautious, weighing those gains against falling crypto prices and year-to-date losses in the stock.
For now, American Bitcoin’s message is consistent: rankings and reserves matter more than near-term share performance. Whether markets eventually reward that stance will depend less on disclosure headlines and more on where Bitcoin itself finds support.
#americacrypto #bitcoin

Crypto markets have spent years pricing tokens, yields, and narratives. Now, one project on Base is attempting to price something even more volatile: attention.

A newly launched application called Breakout introduces a speculative market where visibility itself becomes the asset. Instead of predicting prices or events, users trade on whether specific crypto figures are gaining or losing mindshare on social platforms over short time windows.
Key Takeaways
Breakout turns Crypto Twitter attention into a weekly onchain trading market on Base.Users bet on which crypto accounts gain or lose mindshare, not on token prices.The dApp is live for non-US users and launched with over $30,000 in initial liquidity.
Attention becomes the signal
Breakout is built on a simple observation: in crypto, influence often precedes price action. Narratives form on social media long before charts react, and traders already act on those signals informally. Breakout formalizes that behavior into a structured, onchain market.
Rather than asking who is popular, the system tracks directional change. The core question is momentum - who is breaking out of obscurity or accelerating faster than peers.
How the market resets power dynamics
Each trading cycle runs on a fixed weekly cadence. A curated set of prominent crypto accounts is monitored, and positions are opened based on whether their relative attention increases or declines by the next settlement.
Because markets reset frequently, dominance is temporary. Even well-known figures must continuously generate engagement to stay relevant, while lesser-known accounts can surface quickly if attention shifts in their favor.
The result is a game-like environment where influence must be constantly defended.
Liquidity before hype
Unlike many experimental dApps, Breakout did not launch empty. One of the project’s founders seeded more than $30,000 in initial liquidity, signaling confidence that traders would engage immediately.
Early chatter suggests participants are already using the platform to express views on which voices are about to go viral, rather than reacting after the fact.
Access, for now, is restricted to non-US users, with participation governed by eligibility requirements.
Why this is happening now
Breakout’s timing is not accidental. The regulatory backdrop in the US has shifted meaningfully under Donald Trump, with the passage of the GENIUS Act providing long-awaited clarity around event contracts and prediction-style markets.
That clarity has enabled platforms like Kalshi to operate within defined legal boundaries and encouraged broader experimentation with market design.
As the company behind Base, Coinbase has benefited from this environment, positioning the network as a testing ground for new financial primitives that blend information, speculation, and onchain settlement.
InfoFi as infrastructure, not novelty
Breakout fits into a growing category often described as “InfoFi” - financial systems that treat information flow as collateral. On Base, this trend overlaps with tokenized assets, stablecoins, and real-world asset experiments that increasingly interact with prediction markets.
Institutions exploring tokenized funds and onchain collateral are paying close attention to these mechanics, not because they are flashy, but because they reveal how markets can be built around signals rather than securities.
The bigger idea
Breakout is not just about betting on influencers. It is an experiment in whether attention can be standardized, measured, and priced in a way markets trust.
If it works, it suggests a future where narratives themselves become tradeable instruments - and where markets move not on what people believe, but on how fast belief is spreading.
#crypto

Japan’s corporate sector is starting to treat Bitcoin less like a speculative asset and more like financial infrastructure.

A new initiative involving Animoca Brands Japan and RootstockLabs reflects that shift, focusing on how large companies can integrate Bitcoin directly into treasury operations while remaining within Japan’s strict regulatory boundaries.
Key Takeaways
Japanese companies are beginning to treat Bitcoin as treasury infrastructure, not speculation.Animoca Brands Japan and RootstockLabs are targeting institutional, Bitcoin-native financial tools.The focus is on security and regulatory compliance rather than experimental DeFi.
From balance sheets to blockchains
Rather than promoting consumer-facing DeFi, the partnership targets institutional use cases. The emphasis is on enabling companies to hold, deploy, and manage Bitcoin within structured treasury frameworks, using onchain tools that do not compromise security or compliance.
The approach mirrors a growing trend in Japan, where firms are cautiously experimenting with digital assets as long-term balance-sheet instruments instead of short-term trading vehicles.
Why Bitcoin, not altcoins
The initiative centers on Bitcoin-based infrastructure rather than multi-chain DeFi. Rootstock’s technology allows smart contracts to run on a network secured by Bitcoin’s Proof-of-Work, giving institutions access to programmable finance without leaving Bitcoin’s security model.
This design is particularly attractive to corporations that view Bitcoin as a conservative digital asset but still want access to automation, yield mechanisms, and settlement tools traditionally associated with DeFi.
Practical tools over experimentation
Instead of launching new tokens or products, the partnership will evaluate existing Bitcoin-native components such as Bitcoin-pegged assets and infrastructure protocols built on Rootstock. These tools can be used to streamline treasury management, improve liquidity handling, and explore onchain financial workflows without introducing excessive operational risk.
Animoca Brands Japan is expected to act as the local interface, helping adapt these tools to Japanese corporate standards and governance requirements.
Regulation shapes the strategy
Compliance is not an afterthought. Japan’s regulatory environment strongly influences how crypto services can be deployed, especially for public companies and large institutions. The collaboration is designed to fit within those constraints, positioning Bitcoin-based finance as an extension of traditional treasury management rather than a parallel system.
That focus may slow experimentation, but it significantly lowers the barrier for corporate participation.
A signal of where adoption is heading
The partnership does not signal a sudden DeFi boom in Japan. Instead, it highlights a quieter evolution: Bitcoin being integrated into corporate finance as infrastructure, not speculation.
If successful, this model could offer a blueprint for how regulated markets adopt Bitcoin-native financial tools without importing the volatility and regulatory friction seen elsewhere.
#bitcoin

Tether has announced the launch of USA₮, a federally regulated, dollar-backed stablecoin, marking a significant shift in the company’s strategy as regulatory pressure around stablecoins intensifies in the United States.

According to the announcement, USA₮ is designed to be fully compliant with U.S. federal regulations and backed one-to-one by U.S. dollars. The stablecoin is positioned as a “Made in America” digital dollar, aimed at institutional users, payment providers, and regulated financial platforms seeking on-chain dollar exposure with clearer legal standing.
Key takeaways:
Tether launched USA₮, a federally regulated U.S. dollar stablecoinThe asset is fully dollar-backed and designed for U.S. complianceThe move signals a strategic shift toward regulated markets
A Strategic Pivot Toward U.S. Regulation
The launch of USA₮ represents a notable evolution for Tether, whose flagship stablecoin USDT has historically operated largely outside direct U.S. federal oversight. By introducing a regulated alternative, Tether appears to be responding to growing demand from institutions and policymakers for stablecoins that fit squarely within existing regulatory frameworks.
USA₮ is expected to coexist alongside USDT rather than replace it, allowing Tether to serve both global markets and more tightly regulated U.S. use cases. This dual-track approach could help the company mainta

in its dominant position in global stablecoin liquidity while expanding its footprint in compliant financial environments.
Competing in a Crowded Stablecoin Market
The U.S. stablecoin landscape has become increasingly competitive, with regulated dollar-backed tokens gaining traction as lawmakers push for clearer rules around issuance, reserves, and consumer protections. By launching USA₮, Tether directly enters this arena, positioning itself against other regulated stablecoins that already operate within U.S. oversight structures.
Supporters of the move say USA₮ could lower barriers for traditional financial institutions to adopt on-chain settlement and payments, while critics note that long-term success will depend on transparency, reserve management, and regulatory consistency.
What USA₮ Means for the Stablecoin Sector
The introduction of a federally regulated stablecoin by the world’s largest issuer underscores how rapidly the stablecoin market is maturing. As governments move closer to formal legislation, issuers are increasingly adapting their products to meet compliance expectations rather than operating in regulatory gray zones.
If widely adopted, USA₮ could accelerate the integration of blockchain-based dollars into mainstream finance, particularly for payments, treasury management, and tokenized financial products—while reshaping how stablecoin issuers balance innovation with regulation.
#Tether

Global authorities hunting crypto crime are running into a new problem: the laundering layer is no longer improvised, fragmented, or small.

Instead, investigators are increasingly confronting a professionalized financial infrastructure operating largely in Chinese-language networks - one that now plays a central role in moving illicit crypto funds across borders.
Key Takeaways
Chinese-language networks now act as core infrastructure for global crypto laundering.Stablecoins and self-custody are the main enablers of scale and speed.Enforcement is shifting from chasing wallets to dismantling financial networks.
Laundering becomes a service industry
Blockchain analysts say crypto crime has entered a new phase. Rather than criminals laundering funds themselves, specialized intermediaries now handle the entire process, offering conversion, obfuscation, and settlement as bundled services.
Data from Chainalysis shows that these Chinese-language networks have grown into one of the dominant clearing layers for illicit crypto, quietly processing a significant share of illegal digital flows worldwide over recent years.
What stands out is not just scale, but structure. The activity has expanded from a narrow set of wallets into a sprawling ecosystem resembling a shadow payments network.
Speed beats secrecy
Unlike older informal value-transfer systems that relied on human brokers and manual ledgers, crypto allows these networks to move value instantly and globally. That efficiency has made them attractive to a wide range of criminal clients, from fraud operators to international trafficking groups.
Stablecoins have become the primary tool. Their price stability and ease of transfer make them ideal for laundering proceeds generated in cash-heavy crimes, while Bitcoin remains a secondary option for cross-chain movement and settlement.
China’s ban creates a paradox
China’s formal prohibition on cryptocurrency trading has not eliminated crypto activity - it has reshaped it.
Analysts note that enforcement inside China tends to prioritize threats to capital controls and financial stability, rather than eliminating all crypto usage outright. That leaves space for underground actors who operate quietly, often serving foreign demand rather than domestic markets.
These networks also cater to individuals seeking to move money across borders outside official channels, adding another layer of demand.
Global crime plugs in
Western authorities have become increasingly vocal about the role these laundering groups play in international crime. US officials have warned that Chinese-language brokers now function as financial conduits for drug trafficking organizations and other transnational groups, replacing slower, riskier cash-based methods.
Crypto allows them to compress what once took weeks into transactions completed in minutes, without relying on correspondent banking or physical transport.
The stablecoin blind spot
Regulators are particularly concerned about the rise of stablecoins held in self-custodied wallets. While transactions remain visible on public blockchains, the absence of regulated intermediaries removes a critical layer of monitoring and reporting.
The Financial Action Task Force has repeatedly warned that this combination - stablecoins plus unhosted wallets - is becoming the dominant vector for illicit crypto activity.
From wallets to infrastructure
What alarms investigators most is that this is no longer about chasing individual bad actors. The laundering layer itself has become infrastructure: resilient, multilingual, and adaptable across jurisdictions.
As crypto adoption expands, enforcement agencies face a familiar challenge from traditional finance, now reborn on-chain - dismantling networks that function less like gangs and more like financial institutions operating entirely outside the law.
#crypto

The TRON Network is seeing a sharp acceleration in on-chain activity, with the number of active accounts surpassing 4.59 million, according to fresh data shared by Lookonchain.

The figure represents a 36% increase compared to a month ago, highlighting a notable resurgence in user engagement across the network.
Key takeaways:
Active accounts on TRON have climbed above 4.59 million.Monthly growth stands at roughly 36%, signaling rapidly rising usage.The surge comes despite relatively muted price action in TRON.
On-Chain Usage Accelerates
The steady rise in daily active accounts suggests expanding real-world usage rather than short-term speculation. Transaction activity, wallet interactions, and smart contract usage have all contributed to higher engagement levels, pushing TRON closer to the top tier of most-used public blockchains by daily activity.

Historically, sustained growth in active accounts has been associated with increased network utility, particularly for payment flows and stablecoin transfers — areas where TRON has maintained a strong foothold.
Growth Outpaces Market Sentiment
Interestingly, the surge in network activity is occurring while TRX’s market price remains relatively flat. This divergence points to organic usage growth rather than hype-driven participation, a dynamic often viewed as constructive from a long-term adoption perspective.
Such patterns have previously preceded broader market recognition, as fundamentals catch up with price action over time.
Price Action Tells a Different Story
Despite the surge in activity, TRX has not yet reflected this growth in its price. The token is trading around $0.29, showing mild short-term weakness and remaining locked in a broader consolidation range. Market capitalization sits near $27–28 billion, with a circulating supply of roughly 94.7 billion TRX.

This divergence — rising fundamentals paired with flat price action — suggests the market has yet to fully price in the uptick in network usage.
Why the Divergence Matters
Historically, periods where on-chain metrics strengthen ahead of price have often preceded larger market moves. Rising activity without speculative price spikes typically signals organic demand, which tends to be more durable than hype-driven rallies.
If network usage continues to expand while price remains compressed, TRX could be building a fundamentals-led base — a setup that has, in past cycles, resolved with stronger directional moves once broader sentiment aligns.
Bigger Picture
Crossing the 4.59 million active account threshold places TRON firmly among the most actively used blockchains globally. While price action has yet to respond, the underlying data shows a network gaining traction at the user level.
For now, the message from the data is clear: TRON’s fundamentals are strengthening faster than its price - and that gap is worth watching closely.
#Tron

A new front is opening in the race to bring altcoins into the US ETF market, and Sui is quietly moving closer to that line.

Behind the scenes, asset managers are tightening their proposals as regulators show growing openness toward crypto products that go beyond Bitcoin and Ethereum.
Key Takeaways
Sui is gaining momentum as a potential ETF asset in the US.Grayscale and rivals are refining staking-based ETF structures.ETF activity could become a near-term catalyst for SUI.
While recent ETF approvals have focused on larger, more established tokens, interest is now spreading toward newer networks. Sui has emerged as one of the names drawing institutional attention, with multiple firms positioning themselves early in anticipation of a friendlier regulatory climate.
At the center of that push is Grayscale, which has adjusted its proposal for a Sui-based investment product as part of ongoing discussions with the U.S. Securities and Exchange Commission. The move suggests the issuer is actively responding to regulatory feedback rather than testing the waters.
A yield-focused structure
Unlike plain spot exposure, the proposed product is designed to combine price tracking with staking-based returns. The updated documentation expands on how staking would be integrated, what risks investors could face, and how regulatory developments might affect operations.
Several commercial details are still intentionally left open, including fees and the identity of the staking partner. That flexibility is common at this stage and allows issuers to adjust economics closer to a potential approval.
If cleared, the fund would operate under the name Grayscale Sui Staking ETF and seek listing on NYSE Arca, transitioning Sui exposure from over-the-counter markets into a regulated exchange environment.
Heavyweights line up behind the scenes
The proposed structure relies on familiar institutional infrastructure. Bank of New York Mellon is set to handle administrative functions, while Coinbase would act as prime broker, with assets safeguarded through Coinbase’s custody arm.
This setup mirrors those used in other crypto-linked ETFs and highlights how standardized frameworks are becoming a key part of winning regulatory approval.
Competition builds around $SUI
Grayscale is not acting in isolation. Other issuers, including Bitwise and Canary Capital, are also pursuing Sui-related products. Their involvement suggests the asset is gaining credibility among firms that typically move only when they see sustained investor demand.
The timing is notable. Following the SEC’s recent approvals of ETFs tied to several major altcoins, issuers appear increasingly confident that the door is open for a broader range of networks.
What this means for SUI
For the market, the significance lies less in any single filing and more in the pattern that is forming. Multiple applications, similar structures, and growing institutional overlap point to Sui becoming part of the next ETF expansion wave.
While regulatory approval is still uncertain, the momentum alone is enough to put SUI back into focus, particularly among traders watching for catalysts tied to institutional access rather than short-term hype.
#suietf #sui

Russia is quietly building the enforcement side of its crypto policy first, even as the broader market rules remain unfinished.

While lawmakers continue to debate how citizens and businesses will be allowed to use digital assets, the state is already finalizing how those assets can be taken away.
Key Takeaways
Russia is prioritizing crypto seizure mechanisms ahead of full market legalizationDigital assets will be explicitly treated as property under criminal lawRetail crypto access is coming, but with strict limits and payment bans
Enforcement comes before permission
In Moscow’s legislative process, a clear priority is emerging. Before cryptocurrencies are fully legalized or widely accessible, authorities want airtight procedures for freezing, seizing, and confiscating them. That approach moved another step forward this week after a key committee in the State Duma backed a bill that gives law enforcement sweeping powers over digital assets tied to criminal cases.
The proposal is now positioned for final approval, signaling that the state wants operational tools in place before crypto activity expands further inside the country.
Digital assets formally treated as property
At the heart of the bill is a legal reclassification. Cryptocurrencies and other digital assets would be explicitly recognized as property within Russia’s criminal and procedural codes. Until now, that status existed in fragments across different laws, creating uncertainty for investigators trying to secure assets during criminal proceedings.
By closing that gap, lawmakers argue they are removing a loophole that has slowed down corruption probes, financial crime cases, and asset recovery efforts involving digital currencies.
How seizures would actually work
Instead of vague enforcement powers, the draft law lays out concrete methods. Authorities would be able to confiscate crypto either indirectly or directly. In some cases, investigators could seize physical infrastructure such as servers, laptops, or cold storage devices. In others, they could move digital funds into wallets controlled by the state.
The objective is to ensure that crypto cannot be hidden, moved, or rendered inaccessible while a case is still under investigation or awaiting a court ruling.
Political backing from the ruling party
The initiative has strong institutional support. Members of the ruling United Russia party describe the bill as overdue, framing it as a necessary modernization of law enforcement rather than a crackdown on innovation.
According to committee chair Pavel Krasheninnikov, the measure brings Russia closer to international standards and gives investigators tools that already exist in many other jurisdictions.
A separate track for full crypto regulation
Notably, this enforcement push is running on a different timeline from Russia’s long-promised crypto market framework. Comprehensive rules governing issuance, trading, and ownership are still under construction and are expected to land later, based on a policy blueprint prepared by the Central Bank of Russia.
That framework is expected to introduce strict oversight, recognize crypto and stablecoins as monetary assets, and tightly control who can participate in the market and under what conditions.
Limited access for everyday investors
Lawmakers have already signaled that retail access will come with caps. According to Anatoly Aksakov, ordinary citizens would be allowed to buy cryptocurrencies legally, but only within predefined limits. Current discussions point to an annual ceiling measured in hundreds of thousands of rubles, though the final figure has not been locked in.
At the same time, proposed legislation would ban the use of cryptocurrencies as a domestic payment method, keeping the ruble firmly in control of everyday transactions.
Courts draw a line on ownership rights
Even as enforcement powers expand, Russia’s judiciary has sent its own signal. The Constitutional Court of the Russian Federation has confirmed that cryptocurrencies qualify as property and are entitled to judicial protection. This means owners retain legal rights, even when assets are frozen or seized under criminal law.
The result is a distinctly Russian crypto model taking shape: ownership is acknowledged, access is restricted, and enforcement comes first.
#crypto

China is approaching the United States as the world’s largest holder of Bitcoin, according to updated estimates of government-controlled reserves — a development that highlights a striking contradiction in Beijing’s digital asset policy.

The shift is occurring despite China maintaining a nationwide ban on crypto trading and mining, underscoring how state-held Bitcoin can diverge sharply from public-facing regulation.
Key takeaways:
China is nearing — and could soon surpass — the U.S. in estimated Bitcoin holdings.Much of China’s Bitcoin is believed to originate from asset seizures and enforcement actions.The development contrasts with China’s strict domestic ban on crypto activity.
How China Built Its Bitcoin Holdings
China’s Bitcoin reserves are widely understood to stem from large-scale law enforcement seizures tied to illicit activity rather than open-market purchases. High-profile crackdowns over recent years resulted in authorities confiscating substantial amounts of Bitcoin, which were subsequently consolidated under state control.

While Beijing has aggressively restricted private crypto usage, it has not liquidated all seized Bitcoin holdings, allowing reserves to accumulate quietly. This has placed China among the top government Bitcoin holders globally — a position that appears increasingly close to overtaking the United States.
The U.S. Approach: Seizures, Sales, and Transparency
The United States also holds a significant amount of Bitcoin, primarily acquired through seizures conducted by federal agencies. Unlike China, however, U.S. authorities have frequently opted to auction or sell portions of these holdings, returning proceeds to the Treasury.
This difference in policy has resulted in a more dynamic U.S. balance over time, while China’s holdings appear comparatively static — and potentially growing relative to U.S. reserves as fewer coins are sold.
A Strategic Contradiction
China’s rising Bitcoin position stands in stark contrast to its official stance on crypto. While the country promotes state-controlled digital finance through its central bank digital currency initiatives, it continues to ban decentralized cryptocurrencies for public use.
Yet the existence of large Bitcoin reserves suggests that, at the state level, Bitcoin is treated less as a prohibited asset and more as a strategic financial resource — even if it remains off-limits to citizens.
This dual-track approach highlights a broader reality in global crypto policy: governments may publicly discourage adoption while privately retaining exposure.
Why This Matters
Government-held Bitcoin has implications beyond symbolism. Large state reserves can influence market perceptions, policy debates, and even geopolitical narratives around monetary sovereignty and digital assets.
If China ultimately overtakes the U.S. as the largest government Bitcoin holder, it would reinforce Bitcoin’s role as a strategic asset — one that transcends ideological positions on crypto adoption.
For now, the development serves as a reminder that Bitcoin’s most significant holders are often states, not traders, and that official policy does not always tell the full story of how governments interact with digital assets behind the scenes.
#china #bitcoin