Fed Chair Powell Supports Banks Serving Crypto Customers

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Global Stats:

• Cryptocurrencies: 11.29M

• Exchanges: 789

• Market Cap: $3.23T (+2.88%)

• 24h Volume: $130.32B (+25.53%)

• Bitcoin Dominance: 59.8%

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• ETH Gas Price: 0.89 Gwei

• Fear & Greed Index: 40 (Neutral)

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1. TORO/SOL – $0.0005023 (+99.80%)

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5. PERRY/WBNB – $0.008488 (+5299%)

💹 Market Highlights:

• Total DeFi Volume: $11.45B (8.78% of total 24h volume)

• Stablecoins Volume: $120.35B (92.35% of total 24h volume)

• Coin with highest % change: CLEO/WBNB (+9999%+)

📈 Preview On Today’s News:

1. - Fed Chair Powell Supports Banks Serving Crypto Customers

2. - Crypto.com Secures EEA-Wide Regulatory Approval Under MiCA

3. - Coinbase Derivatives to Launch Solana and Hedera Futures Amid U.S. Crypto Shift

Keep reading below for more!

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Today’s News:

1)

Fed Chair Powell Supports Banks Serving Crypto Customers

Federal Reserve Chair Jerome Powell reaffirmed that the Fed will not block banks from serving legal cryptocurrency customers, emphasizing the importance of crypto regulation while allowing banks to operate within the sector. Speaking before Congress, Powell reiterated his stance that banks are "perfectly able" to engage with crypto customers if they can manage the risks, reinforcing his earlier statements from the January FOMC meeting. While the Fed remains focused on overseeing banking activities, Powell’s comments mark a shift toward a more open approach to crypto in the U.S. financial system.

• Powell confirmed that the Federal Reserve will not prevent banks from offering services to crypto customers, provided they can manage associated risks.

• His remarks signal growing acceptance of crypto within the banking sector, aligning with prior statements and emphasizing regulatory oversight rather than restriction.

2)

Crypto.com Secures EEA-Wide Regulatory Approval Under MiCA

Crypto.com has received full regulatory approval to operate across all European Economic Area (EEA) member states, marking a major milestone for crypto services in Europe. This approval, granted by Malta’s Financial Services Authority on January 27, 2025, makes Crypto.com the first global crypto asset service provider to obtain a MiCA (Markets in Crypto-Assets) license. The move enhances regulatory clarity, strengthens security measures, and establishes standardized compliance protocols for crypto platforms within the EEA. Crypto.com’s President and COO, Eric Anziani, emphasized the company’s commitment to compliance and the broader impact of the European Union’s proactive regulatory framework. This development positions the EEA as a key hub for regulated crypto services while setting a precedent for global crypto compliance.

• Crypto.com’s Malta-based entity became the first to secure a full MiCA license, enabling seamless cross-border crypto services across all EEA member states.

• The approval enhances regulatory clarity, strengthens security measures, and establishes the EEA as a leading hub for compliant crypto operations, with potential global implications.

3)

Coinbase Derivatives to Launch Solana and Hedera Futures Amid U.S. Crypto Shift

Coinbase Derivatives is set to introduce Solana (SOL) and Hedera (HBAR) futures, with contracts expected to go live on or after February 18. The platform filed the necessary paperwork with the Commodity Futures Trading Commission (CFTC) in January, continuing the trend of increasing crypto derivatives activity in the U.S. This move aligns with the broader shift in cryptocurrency regulation under President Donald Trump’s administration, which has been more favorable toward the industry. The new contracts will be cash-settled on a monthly basis, reinforcing Solana’s growing prominence as discussions around a potential Solana ETF gain momentum.

• Coinbase Derivatives will launch Solana (SOL) and Hedera (HBAR) futures on or after February 18, following CFTC filings in January.

• The move reflects the growing acceptance of cryptocurrency derivatives in the U.S. under a pro-crypto administration, further boosting Solana’s market presence.

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4)

HashFlare Co-Founders Plead Guilty in $550M Crypto Fraud Case

Sergei Potapenko and Ivan Turogin, the Estonian co-founders of HashFlare, have pleaded guilty to conspiracy to commit wire fraud in the U.S. District Court for the Western District of Washington. Between 2015 and 2019, they defrauded users out of more than $550 million by misrepresenting HashFlare’s mining capabilities, which reportedly operated at only 1% of the claimed efficiency. In addition, they raised $25 million in 2017 for a digital bank project, Polybius, which was never established. Both have agreed to forfeit assets frozen by authorities in 2022, with their sentencing set for May 8, where they each face up to 20 years in prison.

• Potapenko and Turogin misled HashFlare users about mining capabilities, defrauding them of $550M, and falsely raised $25M for a non-existent digital bank.

• The co-founders, extradited to the U.S. in May 2024, face up to 20 years in prison following their May 8 sentencing.

5)

US States Could Inject $23B Into Bitcoin Reserves, VanEck Reports

A new analysis by asset manager VanEck suggests that proposed state-level Bitcoin reserve bills could drive up to $23 billion in demand for Bitcoin if enacted. The report examined 20 state bills and estimated that they would collectively require the purchase of approximately 247,000 BTC. This projection does not account for potential Bitcoin acquisitions by state pension funds, which could further boost demand. Additionally, former President Donald Trump has directed staff to explore the creation of a national strategic Bitcoin reserve, while over 150 companies continue to accumulate Bitcoin as a treasury asset, reinforcing its role as an inflation hedge.

• VanEck's analysis found that proposed state-level Bitcoin reserve bills could generate $23 billion in BTC demand, requiring states to buy 247,000 BTC.

• Former President Trump has ordered an exploration of a national Bitcoin reserve, while institutional adoption of BTC as a treasury asset continues to grow.

6)

JPMorgan’s Bitcoin Exposure Contradicts CEO’s Crypto Criticism

JPMorgan Chase has disclosed $500,000 in Bitcoin exposure through ETFs in its latest 13F filing, despite CEO Jamie Dimon’s ongoing skepticism toward the cryptocurrency. While Dimon previously called Bitcoin a “fraud” in 2017 and remains critical, comparing it to cigarettes, he acknowledges growing client demand. The bank's exposure stems from its role as an authorized participant for spot Bitcoin ETFs, facilitating transactions rather than actively investing. Although JPMorgan’s position is minor compared to its total assets, it reflects a cautious adaptation to crypto markets, aligning with broader institutional trends where firms engage with digital assets while balancing regulatory concerns.

• JPMorgan disclosed $500,000 in Bitcoin exposure via ETFs, contrasting CEO Jamie Dimon’s long-standing skepticism and past criticism of the cryptocurrency.

• The bank’s involvement is procedural rather than a direct investment, signaling a measured approach as major financial firms cautiously engage with crypto markets.

7)

Strategy Rebrands and Adds More Bitcoin, Boosting Shareholders’ Profits by $1.8B

Days after rebranding from MicroStrategy to Strategy, Michael Saylor’s Bitcoin-focused company acquired more BTC, generating over $1.8 billion in shareholder profits in 2025. The firm now holds 478,740 BTC, valued at approximately $46.7 billion, with recent purchases funded through a $21 billion equity offering program. The rebrand reflects a stronger commitment to Bitcoin and artificial intelligence, with a new orange-themed logo symbolizing its position as the leading Bitcoin Treasury Company. Shareholders also approved an increase in authorized stock, ensuring flexibility for future acquisitions.

• Strategy’s rebranding emphasizes its Bitcoin-focused investment strategy, with recent BTC acquisitions boosting shareholder profits by over $1.8 billion.

• The company’s holdings have grown to 478,740 BTC, funded by stock sales and debt offerings, with more purchases expected as it strengthens its position as the largest corporate Bitcoin holder.

8)

zkLend Hacked for $4.9M, Offers Attacker $1M Bounty for Return

zkLend, a decentralized finance lending protocol on Starknet, suffered a major security breach, losing approximately 3,700 ETH ($4.9 million). The exploit led to the suspension of withdrawals while zkLend, alongside security firms and blockchain organizations like Binance Security and StarkWare, investigates and tracks the hacker. On-chain data suggests the stolen funds were funneled through the Railgun crypto mixer to obscure transactions. In an effort to recover the funds, zkLend has offered the hacker a 10% whitehat bounty—about 400 ETH ($1M)—if the remaining assets are returned by February 14. The offer is legally binding and would release the exploiter from liability, following similar past cases where bounties failed to recover stolen funds.

• zkLend lost $4.9M in ETH due to a security exploit, pausing withdrawals and enlisting blockchain security firms to investigate and track the stolen assets.

• The platform offered the hacker a 10% bounty ($1M) in exchange for returning the remaining funds, but history suggests such efforts rarely succeed.

9)

Franklin Templeton Expands Tokenized Fund to Solana

Global asset manager Franklin Templeton has expanded its OnChain U.S. Government Money Market Fund (FOBXX) to the Solana blockchain, reinforcing Solana’s growing appeal for tokenized financial products. Already available on Ethereum, Aptos, Base, and Avalanche, the fund now benefits from Solana’s high-speed, low-cost transactions and censorship-resistant infrastructure. With a market capitalization of $594 million, FOBXX ranks as the third-largest tokenized money market fund, behind BlackRock’s BUIDL and Hashnote’s USYC. The move aligns with broader industry trends as tokenized treasuries approach a $3.6 billion market cap, with projections suggesting a trillion-dollar future for tokenized real-world assets.

• Franklin Templeton’s $594M FOBXX fund has expanded to Solana, leveraging its speed and efficiency for on-chain trading.

• Tokenized treasuries now hold a $3.6B market cap, with experts predicting the sector will reach a trillion-dollar valuation.

10)

Japanese Investors Flock to Metaplanet Amid Soaring Stock Prices

Japanese investors are increasingly drawn to Metaplanet as its stock price has surged to record highs, fueled by Michael Saylor’s endorsement of the company’s Bitcoin strategy. The stock, which was priced below 1,000 yen in October, skyrocketed past 6,650 yen, delivering an astonishing 4,000% annual return. Metaplanet further bolstered its financial standing by raising 4 billion yen through a zero-interest corporate bond issuance, with proceeds allocated for Bitcoin purchases. The company's rising liquidity in the Nikkei index, coupled with strategic Bitcoin acquisitions by MicroStrategy, continues to shape the financial landscape, despite macroeconomic uncertainties and market influences from institutions like JPMorgan and Morgan Stanley.

• Metaplanet's stock price soared from under 1,000 yen to over 6,650 yen, marking an 81% monthly and 4,000% annual return, driven by Michael Saylor’s praise and Bitcoin-focused strategy.

• The company secured 4 billion yen through a zero-interest bond issuance to accelerate Bitcoin acquisitions, further strengthening its financial position amid growing market liquidity and institutional influence.

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