Weekly Crypto & Blockchain Update: Feb 9-15
Market Movements
- Bitcoin is down 0.87% over the last 7 days, currently at $68,980
- Ethereum is sitting at $1,991 with a 3.78% decrease from the previous week
- Last week’s top 3 gainers were PIPPIN (178.64%), H (58.98%), and STABLE (50.63%), while the top 3 losers were MYX (68.29%), APT (11.61%), and M (10.32%)
- The crypto market’s Fear & Greed Index is at 12 Extreme Fear today (CMC)
- Crypto market capitalization is at $2.36 trillion, down 2.67% since yesterday
- Bitcoin's market cap dominance is currently at 58.4%, Ethereum at 10.2%, and other cryptocurrencies at 31.4%
- Stablecoins' market capitalization has risen by 0.04% in the last 7 days, currently at $307 billion, with USDT dominance at 59.68% (DefiLlama)
- NFT sales volume increased by 45.29% over the previous 7 days, while total transactions increased by 22.33% (CryptoSlam)
Regulatory Developments
- Treasury secretary Bessent urges passage of Clarity Act to stabilize crypto markets
- Digital Chamber pushes for stablecoin rewards as banks resist in Senate crypto bill
- DeFi Education Fund urges narrow definition of “control” in UK crypto regulations
- Senior crypto executives join Commodity Futures Trading Commission advisory committee alongside Coinbase, Ripple and Nasdaq
- BRICS countries weigh linking CBDCs to trade independently of the US financial system
- Agant secures Financial Conduct Authority registration for pound stablecoin GBPA in UK
- US banks urge Office of the Comptroller of the Currency to slow crypto charter approvals amid regulatory concerns
- Thai Cabinet approves expansion of derivatives law to include crypto assets
- Paxful fined $4 million over transfers tied to money laundering schemes
- Democrats criticize U.S. Securities and Exchange Commission chair over dismissed crypto lawsuits involving Binance and Justin Sun
- Financial Conduct Authority launches legal action against HTX over alleged illegal crypto promotions
- Danske Bank adds bitcoin and ethereum ETPs to meet rising client demand
- Fintech groups push for direct access to US payment rails through Federal Reserve accounts
Investments, Partnerships, & Acquisitions
- Coinbase rolls out agentic wallets to power autonomous AI payments infrastructure
- Beast Industries to acquire Step banking app after crypto trademark filing
Crypto Security
- Wallet tied to $200 million Mixin Network hack begins moving funds
- Connecticut man charged with defrauding crypto investors of $1 million and gambling away funds
- Braden John Karony sentenced to 100 months in prison for defrauding SafeMoon investors
- Supreme Court of Cyprus allows police to open safe deposit boxes in €700 million crypto laundering case
More Industry/Market Updates
- Binance fires compliance staff who raised potential Iran sanctions violations: report
- On-chain indicators signal uncertainty around Bitcoin’s potential bottom
- Binance converts SAFU fund entirely into bitcoin, now holding $1 billion in BTC
- Bithumb explores legal options after mistakenly distributing $43 billion in bitcoin
Have a successful new week ahead! 🤝
- Swapin Team