Author: Defx Intern

Coinbase, a leading cryptocurrency exchange, has reached a significant milestone by holding $420 billion in assets for its customers. According to CEO Brian Armstrong, this positions Coinbase as the 21st largest bank in the United States if it were classified as a financial institution. Armstrong also noted that if Coinbase were considered a brokerage, it would rank as the 8th largest by assets under management (AUM).

This impressive growth highlights the increasing mainstream adoption of cryptocurrencies and the blurring lines between traditional finance and the crypto industry. As more individuals and institutions turn to platforms like Coinbase for investing, spending, and borrowing, the demand for seamless integration between crypto and traditional financial services becomes evident.

The fact that Coinbase now holds such a substantial amount of assets underscores the growing trust in cryptocurrency exchanges as secure and reliable platforms for managing digital wealth. This trust is further reinforced by Coinbase’s efforts to comply with regulatory requirements and maintain high security standards.

The implications of Coinbase’s growth are significant for the broader crypto market. As one of the most prominent and user-friendly exchanges, Coinbase’s success can drive further adoption and legitimacy of cryptocurrencies. With more users entering the space through trusted platforms like Coinbase, the overall market liquidity and stability may improve, potentially reducing volatility and attracting even more institutional investors.

Moreover, Coinbase’s expanding user base and asset holdings can lead to increased demand for various cryptocurrencies, potentially impacting their prices. As users trade and invest through the platform, the exchange’s listing decisions and trading volumes can have a notable influence on market sentiment and asset valuations.

Looking ahead, Coinbase’s growth trajectory suggests that the exchange is well-positioned to continue bridging the gap between traditional finance and the crypto world. As regulatory clarity improves and more institutions embrace cryptocurrencies, platforms like Coinbase are likely to play a crucial role in facilitating the mainstream adoption of digital assets.

However, it is essential to note that the crypto industry is still nascent and subject to regulatory uncertainties. As the landscape evolves, exchanges like Coinbase will need to navigate the changing regulatory environment while continuing to innovate and provide secure, user-friendly services to their growing customer base.

Tags: Coinbase, Cryptocurrency, Digital Assets, Banking, Brokerage, Market Adoption

Source: https://bitcoinist.com/with-420-billion-under-management-coinbase-matches-major-us-banks-ceo/

The Enron token, launched on February 4, has experienced a significant crash, leading to allegations of a potential rugpull. In response, Enron CEO Connor Gaydos has taken a polygraph test administered by a retired FBI agent to deny any involvement in the token’s crash.

The polygraph test comes as an attempt to clarify the situation and address the growing concerns surrounding Enron’s potential role in the token’s sudden decline. The company alleges that it had no involvement in the crash, but the circumstances have raised suspicions among investors and the crypto community.

The crash of the Enron token has significant market implications, as it highlights the risks associated with investing in newly launched tokens, particularly those with ties to companies with a history of controversial practices. The incident may lead to increased scrutiny of token launches and a heightened sense of caution among investors.

From a technical analysis perspective, the crash of the Enron token could be seen as a classic example of a pump and dump scheme. The sudden rise in price followed by a rapid decline is a pattern often associated with manipulative practices in the crypto market. Investors should be wary of tokens that exhibit such behavior and conduct thorough research before investing.

The Enron token crash also raises questions about the effectiveness of polygraph tests in determining the truth in such situations. While the CEO’s willingness to undergo the test may be seen as a positive step towards transparency, the reliability of polygraph results remains a topic of debate.

As the situation unfolds, it will be crucial for Enron to provide clear and convincing evidence to support their claims of non-involvement in the token’s crash. The company’s reputation, already tarnished by past scandals, may suffer further damage if the allegations are not adequately addressed.

Investors and the crypto community will be closely monitoring developments in this case, as it serves as a reminder of the importance of due diligence and the potential risks associated with investing in the volatile world of cryptocurrencies.

Tags: Enron Token, Crypto Crash, Polygraph Test, Market Implications, Pump and Dump

Source: https://news.bitcoin.com/enron-token-crashes-hard-ceo-takes-polygraph-test-to-deny-involvement/

American rapper Kanye West has been making waves in the crypto world following his surprise appearance at the Grammys 2025. The hip-hop superstar has been actively posting on X, hinting at a potential collaboration with Coinbase CEO Brian Armstrong.

West recently revealed that he was offered $2 million to promote a fraudulent cryptocurrency project, which he declined. The scheme was projected to rob unsuspecting fans and crypto community members of tens of millions of dollars. Despite this incident and West’s controversial posts, several crypto projects have encouraged him to launch his own token.

Notably, Solana-based token generation and trading platform Pump.fun responded to one of West’s posts, urging him to launch his own cryptocurrency. However, it appears that West is more interested in exploring a collaboration with Coinbase. In a post captioned “concerning crypto,” West shared a chat screenshot where he asked an associate to connect him with Brian Armstrong.

If Kanye West were to launch his own token, he wouldn’t be the first celebrity to do so. In May 2024, rapper Iggy Azalea launched her Mother Iggy (MOTHER) token, garnering significant attention. Other celebrities allegedly involved in token launches in the past year include Davido, French Montana, and Lil Pump.

The potential collaboration between Kanye West and Coinbase could have significant implications for the crypto market. As one of the biggest names in the music industry and pop culture, West’s involvement could bring mainstream attention and adoption to cryptocurrencies. However, his erratic and controversial nature adds an interesting dimension to how investors might approach a token launched in his name.

It remains to be seen whether the collaboration will come to fruition and what form it might take. Nonetheless, the mere possibility of a Kanye West-backed cryptocurrency has already generated buzz in the crypto community. As the story develops, investors and enthusiasts will be keeping a close eye on any further announcements or developments.

Tags: Kanye West, Coinbase, Brian Armstrong, celebrity tokens, crypto collaboration

Source: https://bitcoinist.com/kanye-west-to-coinbase-ceo-as-crypto-token-launch/

In a significant move, Hong Kong has reportedly accepted cryptocurrency as proof of assets for investment immigration applications. The city has recognized bitcoin and ethereum holdings in two cases under its HK$30 million residency requirement, signaling a growing acceptance of digital assets as a legitimate form of wealth.

This development positions Hong Kong as a leader in embracing the potential of cryptocurrencies and blockchain technology. By allowing investors to use their crypto holdings to meet the investment threshold for residency, Hong Kong is attracting a new wave of tech-savvy individuals who see the value in digital assets.

The recognition of cryptocurrency as a valid proof of assets has several implications for the market. Firstly, it legitimizes the use of digital currencies as a store of value and a means of investment. This validation from a major financial hub like Hong Kong could encourage more institutional investors to consider allocating a portion of their portfolios to cryptocurrencies.

Secondly, the move could inspire other countries to follow suit and adopt more crypto-friendly policies. As the global competition for talent and capital intensifies, nations that embrace emerging technologies and provide a welcoming regulatory environment for digital assets may gain a competitive edge.

Furthermore, the acceptance of cryptocurrency for investment immigration could drive demand for bitcoin and ethereum, as high-net-worth individuals seek to diversify their wealth and gain residency in Hong Kong. This increased demand could potentially contribute to price appreciation and further mainstream adoption of these digital assets.

However, it is essential to note that the regulatory landscape for cryptocurrencies remains complex and varies across jurisdictions. While Hong Kong’s stance is encouraging, investors should still exercise caution and conduct thorough due diligence before making significant investments in digital assets.

As the world continues to navigate the rapidly evolving world of cryptocurrencies and blockchain technology, Hong Kong’s decision to accept crypto as proof of assets for investment immigration sets a precedent that other nations may follow. It showcases the growing recognition of digital assets as a legitimate form of wealth and highlights the potential for cryptocurrencies to reshape traditional financial systems.

Tags: Hong Kong, Cryptocurrency, Investment Immigration, Bitcoin, Ethereum, Proof of Assets, Market Implications

Source: https://news.bitcoin.com/hong-kong-accepts-crypto-as-proof-of-assets-for-investment-immigration/

The cryptocurrency market is showing signs of recovery after a significant correction in February, with altcoins leading the charge. The total crypto market cap has bounced off the $3 trillion mark, and the altcoin market cap, despite facing rejection at $425 billion, is exhibiting a shallower pullback compared to previous downturns.

Crypto analyst Rekt Capital’s technical analysis highlights the importance of the $425 billion resistance level for the altcoin market. The current pullback measures around 50% from this level, whereas the last two significant downturns saw steeper declines of 69% and 85%. This milder retracement indicates that bearish momentum is weakening, and the market is showing growing resilience.

The relatively shallow pullback from the $425 billion resistance level strengthens the argument that the anticipated altcoin season could unfold better than in the past two cycles. Crypto analysts are eagerly awaiting an altcoin season, where profits from Bitcoin start flowing into altcoins, and the altcoin market outperforms Bitcoin.

However, Bitcoin dominance remains strong, and a full-fledged altcoin season has yet to materialize. Rekt Capital noted a recent rejection of Bitcoin dominance around 64%, but history suggests that the real rejection occurs around 71%. If Bitcoin dominance reaches this level and faces a harsh rejection, it could signal the start of a cycle-defining altcoin season.

For now, analysts suggest that the anticipated altcoin rally may be on pause, with Bitcoin continuing to absorb the majority of market liquidity. Altcoin investors may have to wait a little longer for a clearer reversal in Bitcoin dominance before the altcoin market can truly take off.

The current market conditions present an opportunity for investors to prepare for the potential altcoin season. As the market recovers and Bitcoin dominance shows signs of weakening, allocating a portion of one’s portfolio to promising altcoin projects could prove to be a profitable strategy.

As always, it is essential to conduct thorough research and exercise caution when investing in cryptocurrencies. The market can be volatile, and past performance does not guarantee future results.

Tags: altcoins, altcoin season, crypto market, bitcoin dominance, technical analysis

Source: https://www.newsbtc.com/altcoin/altcoins-season-recent-crypto-dip-shows-decline-may-be-over-and-bulls-are-taking-charge/

Bitcoin (BTC) prices experienced a turbulent week amidst global trade war fears, falling to around $91,500 before recovering. However, a strong rejection at the $102,000 price zone has drawn speculation on the future of the current bull run.

Renowned crypto analyst Burak Kesmeci recently shared insights on the Bitcoin Advanced NVT (network value to transaction) metric, which evaluates BTC’s market valuation relative to its transaction volume. This metric helps traders identify overbought and oversold conditions in the Bitcoin market. According to Kesmeci, the Bitcoin Advanced NVT has indicated local bottoms on four occasions in the past year, with scores ranging from 30.78 to 38.21.

Interestingly, as Bitcoin crashed to $91,000 in the past week, the Advanced NVT metric fell to 38.13 – a level consistent with past local bottoms. This development suggests that Bitcoin is due for a price rally. However, historical data indicates that BTC may remain in consolidation for some time before launching a strong price rally. For a rally to materialize, market bulls must overcome resistance at $102,000, with further hurdles at $105,000 and $106,000.

In other bullish news, blockchain analytics company IntoTheBlock reports that the Bitcoin market experienced $267 million in net exchange outflows, forming a three-week streak of outflows. Consistent net outflow is a positive signal indicating investors are moving their assets off exchanges, reducing potential selling pressure. While the recent outflow volume is lower than levels recorded in November 2024, it still indicates room for growth in terms of investor confidence.

At the time of writing, BTC trades at $96,720, reflecting a 0.84% decline in the past 24 hours. The premier asset experienced an overall loss of 6.48% for the week, pushing its monthly gains to 2.90%. With a market cap of $1.9 trillion, Bitcoin remains the largest cryptocurrency and the eighth-largest asset in the world.

As the Bitcoin Advanced NVT metric signals a potential local bottom, investors and traders should keep a close eye on BTC’s price action in the coming days. A successful break above key resistance levels could confirm the start of a new price rally, while failure to do so may result in further consolidation or a potential trend reversal.

Tags: Bitcoin, BTC price, Advanced NVT, on-chain metrics, exchange outflows, crypto market analysis

Source: https://bitcoinist.com/bitcoin-key-metric-signals-local-bottom-price-rally/

Former Bitmex CEO Arthur Hayes has issued a stark warning about the potential consequences of the United States creating a strategic Bitcoin reserve. In an essay published on February 5, 2025, Hayes argues that such a move would be a “ticking time bomb” that could lead to political manipulation, market chaos, and a government ready to dump BTC at will.

Hayes suggests that a U.S. Bitcoin reserve would give the government unprecedented power over the cryptocurrency market. By holding a significant amount of BTC, the government could potentially manipulate prices, create artificial scarcity, or flood the market with supply whenever it sees fit. This level of control would go against the decentralized nature of Bitcoin and could undermine the very principles that make it attractive to many investors.

Moreover, Hayes warns that a strategic reserve could be used as a political tool, with the government using its BTC holdings to reward allies, punish enemies, or pursue other geopolitical objectives. This could lead to a situation where the price of Bitcoin is driven more by political considerations than by market forces, creating uncertainty and instability in the market.

The potential market implications of a U.S. Bitcoin reserve are significant. If the government were to suddenly sell off large amounts of BTC, it could trigger a massive price crash, wiping out billions of dollars in value and shaking confidence in the cryptocurrency market as a whole. On the other hand, if the government were to use its reserve to prop up prices or limit supply, it could create artificial bubbles and distort the market in ways that are difficult to predict.

From a technical analysis perspective, the creation of a U.S. Bitcoin reserve could introduce new levels of volatility and uncertainty into the market. Traders and investors would need to factor in the potential actions of the government when making decisions, adding an additional layer of complexity to an already complex market. This could lead to increased risk and make it more difficult for market participants to accurately assess the value of BTC.

Overall, the idea of a U.S. Bitcoin strategic reserve raises serious concerns about the future of the cryptocurrency market. While some may argue that government involvement could bring greater legitimacy and stability to the market, Hayes’ warning suggests that the risks may outweigh any potential benefits. As the crypto space continues to evolve, it will be important to watch how governments around the world approach the issue of strategic reserves and what impact their decisions may have on the market as a whole.

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Tags: Bitcoin, BTC, US Strategic Reserve, Arthur Hayes, Market Manipulation, Crypto Regulation

Source: https://news.bitcoin.com/arthur-hayes-warns-of-bitcoin-crash-if-us-creates-strategic-btc-reserve/

Bitcoin’s attempt to sustain momentum above the highly anticipated $100,000 mark has faced stiff resistance, leading to a sharp pullback. The rejection at this psychological level has fueled bearish pressure, pushing BTC into a corrective phase as sellers take control. Now, all attention turns to key support zones that could determine whether Bitcoin stabilizes or extends its decline.

The current downward move reflects weakening momentum as Bitcoin struggles to break above the $100,000 mark and reclaim the 100-day Simple Moving Average (SMA). This suggests that BTC may remain vulnerable to further declines unless buyers step in at critical support levels. A failure to hold above these zones may open the door for more downside, potentially testing lower price levels.

Furthermore, Bitcoin’s Relative Strength Index (RSI) is also gaining bearish traction, declining from neutral territory toward the oversold zone. This shift indicates weakening buying pressure, allowing sellers to dictate price action. If the RSI continues to drop, it could reinforce the downward trend and signal the potential for further declines.

The $93,257 level now serves as a crucial support test for Bitcoin. Holding above this level could signal a possible bounce, while a breakdown may accelerate losses toward lower support zones. Should the price drop below $93,257, bearish momentum could increase, pushing Bitcoin toward the next key support at $85,211.

On the other hand, if Bitcoin manages to hold above the $93,257 support level, it could trigger a rebound toward the $100,000 mark. A breakout above this key resistance would bolster upside movement and pave the way for further gains.

As uncertainty looms, Bitcoin’s next move will be pivotal in shaping its short-term trend. Traders and investors should closely monitor these key support levels and watch for any signs of a potential reversal or continuation of the current bearish pressure.

Tags: Bitcoin price, $100K resistance, support levels, technical analysis, cryptocurrency market

Source: https://www.newsbtc.com/news/bitcoin/bitcoin-100000-rejection/

The Dogecoin market has been experiencing a significant downturn in recent weeks, with the price of DOGE falling by nearly 50% since reaching a local high of $0.47 in early December. The latest on-chain data from Santiment reveals that this decline may be attributed to a decrease in activity among Dogecoin whales.

According to Santiment, the number of DOGE transactions worth over $100,000 has drastically reduced, falling by more than one-third compared to the volume seen during the “Trump pump run-up” in early November. Weekly $100,000 transactions have dropped from 20,200 to 6,200 since November 9, 2024, representing an almost 70% decline. Similarly, weekly $1 million DOGE transactions have plunged by over 75%, going from 3,490 to 850 in the last three months.

This decrease in whale activity suggests that large investors are becoming less confident in the Dogecoin market, which could further contribute to the downward pressure on the price of DOGE. As of this writing, the DOGE token is valued at around $0.246, reflecting a mere 0.5% decline in the past 24 hours. While the meme coin seems to have found support around $0.23, there has not been enough movement to ensure a comeback and recover the recent losses.

The general market condition has not been particularly positive, but the meme coin sector appears to be enduring the biggest impact of this climate shift. For the Dogecoin price to recover, these whale transaction metrics may need to pick up again, indicating renewed interest and confidence among large investors.

However, there may be a glimmer of hope for Dogecoin. Crypto analyst Ali Martinez recently revealed that whales have accumulated over 100 million DOGE tokens in the past 24 hours, signaling growing interest and confidence among some large investors. If this trend continues, it could potentially help to stabilize the price of DOGE and pave the way for a recovery.

Tags: Dogecoin, DOGE, Whale Activity, On-Chain Data, Crypto Market

Source: https://www.newsbtc.com/news/dogecoin/dogecoin-whales-desert-market-number-of-100000-transactions-nosedives-70/

In a remarkable display of computational prowess, Bitcoin’s hashrate has once again shattered records, reaching an astounding 852 exahash per second (EH/s) in February 2025. This milestone marks the imminent arrival of the zettahash era, with an expected 14.8% increase in processing power on the horizon.

The Bitcoin network’s resilience and growth continue to impress, as the hashrate has surged to new heights despite recent fluctuations in transaction volume. This record-breaking achievement underscores the unwavering commitment of miners and the robust infrastructure supporting the world’s leading cryptocurrency.

As the zettahash epoch approaches, it is crucial to consider the potential implications for the Bitcoin market and the broader cryptocurrency landscape. The increased hashrate not only bolsters network security but also reflects the confidence of miners in the long-term viability and profitability of Bitcoin mining.

This development may attract further investment in mining infrastructure, as well as drive innovation in mining technology. The race to develop more efficient and powerful mining equipment is likely to intensify, potentially leading to a consolidation of mining power among the most competitive players in the industry.

Moreover, the rising hashrate could influence the dynamics of the Bitcoin market, as the increased computational power may contribute to greater network stability and faster transaction processing times. This, in turn, could enhance Bitcoin’s appeal as a reliable and efficient means of value transfer, further solidifying its position as the flagship cryptocurrency.

However, it is essential to monitor the environmental impact of the escalating energy consumption associated with Bitcoin mining. As the hashrate continues to climb, the industry must prioritize the adoption of sustainable energy sources and explore innovative solutions to mitigate the carbon footprint of mining operations.

In conclusion, the Bitcoin network’s record-breaking hashrate of 852 EH/s in February 2025 signifies a major milestone in the cryptocurrency’s journey towards the zettahash era. This achievement highlights the strength and resilience of the Bitcoin ecosystem, while also presenting opportunities and challenges for miners, investors, and the wider cryptocurrency community. As we witness the unfolding of this new chapter in Bitcoin’s history, it is crucial to strike a balance between embracing technological advancements and addressing the environmental considerations that come with the increasing computational power of the network.

Tags: Bitcoin, Hashrate, Mining, Zettahash, Network Security

Source: https://news.bitcoin.com/bitcoin-hashrate-smashes-records-with-852-eh-s-frenzy-zettahash-era-inches-closer/