The post Bitmine’s $8.8B Ethereum Loss Now Worse Than FTX, Analysts Warn of ‘Structural Impairment’ appeared first on Coinpedia Fintech News

Bitmine Immersion Technologies shareholders have now accumulated approximately $8.8 billion in paper losses on Ethereum, surpassing the roughly $8.0 billion FTX customers initially lost when that exchange collapsed in 2022.

Crypto research firm 10x Research flagged the comparison on Monday, warning that ETH is at valuation levels where its fundamental value proposition is being “structurally tested.”

Bitmine’s Ethereum Losses Exceed the FTX Collapse

Ethereum’s price has fallen 60% over the past six months, dropping below Bitmine’s average cost basis of $3,843 per token, according to Bitminetracker.

The firm, chaired by Wall Street veteran Tom Lee, has drawn comparisons to Strategy’s Bitcoin treasury model, but the scale of unrealized damage now sits in historic territory.

Bitmine’s stock has dropped roughly 59% over the same period, trading at $20.13 today. Despite the drawdown, the company acquired 45,759 ETH last week.

“Investors must therefore assess carefully whether the asset is simply in a cyclical downturn or entering a phase of deeper structural impairment,” 10x Research said.

Anthropic Is Now Worth More Than Ethereum

Here is where the capital allocation story gets uncomfortable. FTX’s prior $1.4 billion investment in Anthropic, made using customer funds, would be worth roughly $30 billion today had it not been sold for $1.3 billion during 2024 bankruptcy proceedings.

Anthropic’s valuation now stands near $380 billion. Ethereum’s entire market cap sits at roughly $231 billion. A single AI startup, partially seeded by stolen crypto funds, has eclipsed the network Bitmine staked its balance sheet on.

Smart Money Shorts ETH While Whales Accumulate

Not everyone agrees on what happens next. Smart money traders remain net short on ETH.

Whales are moving the other way. Large investors increased spot ETH accumulation by over sixfold in the past week, acquiring $44 million across 41 wallets. Fresh wallets created in the past 15 days bought $245 million in spot Ethereum, signaling new entrants are net buyers.

Wall Street Is Still Increasing Bitmine Exposure

The top 11 Bitmine shareholders, including Morgan Stanley, Ark Investment Management, and BlackRock, all increased their positions during Q4 2025. SharpLink Gaming, the second-largest corporate ETH holder, faces a $1.4 billion paper loss. The Ether Machine sits on nearly $948 million in unrealized losses.

Bitmine keeps buying. Wall Street keeps holding. And the question 10x Research posed Monday is the one the entire Ethereum market now has to answer: cyclical bottom, or structural impairment?

Also Read: SEC ETF Deadline, CLARITY Act, New Fed Chair: 5 Events That Will Define Crypto in 2026

The post ‘Failed Experiment’: Are Bitcoin Treasury Companies Dumping BTC? Bitdeer Holdings Hit Zero appeared first on Coinpedia Fintech News

SwanDesk CEO Jacob King, a well-known Bitcoin critic, says companies are rushing to dump their BTC. In a post on X, King claimed corporate Bitcoin exposure has fallen by over 37% in the past three months. He called it “the largest downturn in history.”

His comments came as Bitcoin miner Bitdeer confirmed it sold its entire Bitcoin treasury, bringing holdings down to zero.

Bitdeer Liquidates Entire BTC Reserve

Bitdeer, the Singapore-based miner founded by ex-Bitmain co-founder Jihan Wu, sold 1,132.9 BTC in a single week. That includes 943.1 BTC from its reserves and all 189.8 BTC it mined during the period. Corporate holdings now sit at exactly zero.

The decline was steady. Bitdeer started 2026 holding roughly 2,000 BTC. By the end of January, that fell to 1,530 BTC. By February 13, it was down to 943.1 BTC. A week later, everything was sold.

The company has raised $325 million through convertible notes and another $43.7 million in equity. The funds will go toward AI data center expansion, cloud growth, and mining hardware development.

‘Bitcoin Is a Failed Experiment’

King framed the selloffs as proof that corporate Bitcoin strategies are falling apart.

“Bitcoin is a failed experiment. Companies bought in because they thought they could make some quick fiat gains and it would lure new dumb money into their failing stock, but it backfired on both. They’re now jumping ship as quick as they can,” he added.

King also warned that the bear market has more room to fall, saying the “next major leg down will be eye-opening for many naive retail who got lured into this scam.”

Also Read: Crypto Analyst Warns Bitcoin Could Hit Zero, Lays Out 16-Step ‘Doomsday’ Scenario

Are Bitcoin Mining Companies Abandoning the HODL Strategy?

Bitdeer is not the only miner selling. Earlier this month, Cango dumped 4,451 BTC worth $305 million to fund its AI pivot. Riot Platforms sold $200 million in BTC. Bitfarms has dropped its “Bitcoin company” branding altogether and is going all-in on AI in the U.S.

About 70% of top public miners now earn revenue from AI and high-performance computing. The reason is simple. AI workloads bring in 3 to 25 times more revenue per kilowatt than Bitcoin mining, with margins between 80% and 90%.

MARA Holdings also bought a 64% stake in French computing firm Exaion last week, pushing deeper into cloud and AI services. HIVE, Hut 8, TeraWulf, and IREN are all converting mining facilities into data centers.

What Bitcoin’s Bear Market Means for Treasury Companies in 2026

Bitcoin is currently trading around $66,272, down 47% from its October 2025 all-time high. It now sits below the estimated $77,000 to $87,000 production cost for most miners. Bitcoin ETF outflows have hit nearly $4 billion over the past five weeks.

Bernstein still sees BTC reaching $150,000 by year-end, calling this the “weakest bear case in history.” But for miners running on tight margins and rising debt, waiting for a recovery may no longer be an option.

The post Gemini Exchange News Today: Winklevoss Twins Lose 3 Top Execs as GEMI Stock Crashes 80% appeared first on Coinpedia Fintech News

Cameron and Tyler Winklevoss spent over a decade building Gemini into one of crypto’s most recognized exchanges. That reputation is now unraveling at speed.

According to Bloomberg, Gemini is cutting well beyond its announced 25% workforce reduction, letting go of additional US staff in recent days. The company has exited the UK, EU, and Australia entirely. GEMI stock, which peaked at $45.89 after its September 2025 IPO, now trades near $5.82, with market cap cratering from nearly $4 billion to under $700 million.

Three C-Suite Execs Leave Gemini

On February 17, Gemini parted ways with COO Marshall Beard, CFO Dan Chen, and CLO Tyler Meade, all in a single day. The executive who led Gemini’s prediction markets platform also departed the same month the product launched.

Cameron Winklevoss is now absorbing the COO role. No replacement is planned.

Gemini’s Bull Market Bet Backfires

Truist Securities analysts wrote that “Gemini’s management team placed a big bet on the crypto bull market run continuing through 2027 and instead crypto asset prices have cratered.”

“Their strategy needs to change,” analyst Matthew Coad added.

Expenses rose roughly 70% last year while net revenue grew just 17%. Gemini handled only 0.1% of global spot crypto trading in January, down from 0.6% in June, according to Cantor Fitzgerald.

Winklevoss Twins Pivot to Prediction Markets

Facing evaporating revenue, the twins are betting on a new direction. Gemini launched its CFTC-licensed prediction markets platform in December, processing over $24 million in volume from more than 10,000 users.

“Our thesis is that prediction markets will be as big or bigger than today’s capital markets,” the brothers wrote in a recent post.

But the space is crowded. Kalshi, Polymarket, Coinbase, and Robinhood are all pushing into the same market.

What’s Next for GEMI Stock?

Gemini’s $425 million IPO haul provides a financial cushion. But with projected expenses of up to $530 million against net revenue of up to $175 million, the burn rate is steep.

“I just think when you see such a slowdown in user growth coinciding with that level of cash burn, investors are going to worry about solvency issues,” Coad said.

Gemini’s next earnings report, expected March 30, could decide whether the market treats this as a turnaround or a warning sign.

The post SEC ETF Deadline, CLARITY Act, New Fed Chair: 5 Events That Will Define Crypto in 2026 appeared first on Coinpedia Fintech News

Between late March and early July 2026, five major regulatory and macro events hit back to back. Blockchain advisor Anddy Lian says these aren’t random. They’re connected, and together they’ll decide if crypto finally grows up or stays stuck.

Lian, who has spent over fifteen years in the space and advised governments on blockchain policy, posted his breakdown on X. He called the window between Q2 and early Q3 “a defining moment for digital assets.”

SEC Must Rule on 91 Crypto ETF Applications by March 27

The SEC faces a hard deadline. By March 27, it must deliver final decisions on 91 pending crypto ETF applications covering 24 tokens. That includes altcoin ETFs tied to Solana and XRP.

Approval would open the same institutional access path that Bitcoin and Ethereum ETFs created. Lian called it “a critical test of whether US regulators will allow market demand to shape product availability.”

CLARITY Act and UK Crypto Access Land Days Apart

Trump is expected to sign the CLARITY Act by April 3, which would finally split regulatory duties between the SEC and CFTC. Three days later, on April 6, the UK starts allowing crypto exchange-traded notes inside tax-advantaged ISAs and pensions.

That means millions of UK retail investors and pension funds get a direct, familiar way into crypto. Lian said this move shows “how progressive regulation can expand access without compromising investor protections.”

• Also Read :
•   Goldman Sachs, Coinbase, CFTC Chair Join Trump’s World Liberty Forum as CLARITY Act Eyes April Deadline
•   ,

Powell’s Exit Could Move Markets More Than Any ETF

Fed Chair Jerome Powell’s term ends May 15, 2026. A Trump-appointed replacement would likely push for lower rates and easier monetary conditions.

Lian flagged this as the biggest single catalyst of the five. “Global liquidity conditions often outweigh project-specific developments in driving price action,” he said. History backs that up. Every major crypto rally has lined up with periods of expanding money supply.

MiCA Hits Full Force on July 1

The EU’s MiCA regulation reaches full enforcement on July 1, requiring every crypto firm in the bloc to meet strict compliance standards or shut down.

Lian acknowledged MiCA “may initially slow innovation but ultimately lend credibility to the sector.” Firms that move early stand to gain a competitive edge across all 27 EU member states. Those that resist may lose access entirely.

The post Bitwise CIO Names 4 Crypto Assets to Own in 2026 as Bear Market Deepens appeared first on Coinpedia Fintech News

Bitwise Chief Investment Officer Matt Hougan has picked his four must-own crypto assets for this cycle: Bitcoin, Ethereum, Solana, and Chainlink. With markets deep in bear territory and Bitcoin trading over 40% below its October 2025 all-time high, Hougan’s call carries weight. Bitwise manages over $15 billion in client assets and already consults with central banks on digital asset strategy.

Speaking on the When Shift Happens podcast, Hougan laid out specific reasoning for each pick rather than broad market hype.

Why Bitcoin Still Leads Hougan’s Crypto Picks

Hougan called Bitcoin the only clear winner in its category.

“I have every confidence that Bitcoin will win the digital gold store of value monetary asset space. I think that game is over and Bitcoin has won it,” he said.

For every other category, including smart contract platforms where Ethereum, Solana, and Avalanche compete, Hougan recommends buying a basket instead of betting on a single winner.

Read More: Altcoins Outperform Bitcoin After Supreme Court Tariff Ruling: Altcoin Season Starting?

Bitcoin to $500K? Hougan Says Market Ignores Sovereign Buying

The biggest surprise was Hougan’s take on sovereign Bitcoin purchases. He says markets currently price in roughly a 0% chance that the U.S. government actively buys Bitcoin beyond its seized holdings. Hougan puts that probability at 10-25%.

“If that happens, I think the price goes to half a million dollars or more almost instantly,” he said.

Bitwise is already in conversations with central banks. Sovereign wealth funds in Abu Dhabi and Luxembourg are already buying. The process is real but moves at central-bank speed, which crypto markets consistently discount.

Why Chainlink Could Be the Sleeper Pick of 2026

Hougan’s most interesting pick may be Chainlink. His case rests on one thesis: if stablecoins and tokenization grow as expected, oracles become essential infrastructure, and Chainlink dominates that market.

“There’s hundred trillion dollars of equities. There’s more of that of bonds. There’s even more of that in real estate,” Hougan said, framing tokenization as a far larger opportunity than stablecoins alone.

Major institutions including NYSE, NASDAQ, BlackRock, and Goldman Sachs are all signaling a shift to blockchain-based rails. Hougan compared the current moment to early ETF adoption, a trend skeptics consistently underestimated.

Bitwise launched its own Chainlink ETF (CLNK) on NYSE Arca in January 2026, and a Chainlink ETF is seen as a coming catalyst for LINK’s price.

The post Ripple’s Secret Banking Play: $4B in Acquisitions, OCC Charter, and a Feb 26 ETF Deadline appeared first on Coinpedia Fintech News

Ripple is no longer just a payments company. Through a series of aggressive acquisitions in 2025 totaling roughly $4 billion, the company has assembled a full-stack banking infrastructure that positions it as what crypto analysts are now calling “the banker’s bank.”

The argument, laid out by NCashOfficial, is that traditional banks lack the time and expertise to build blockchain infrastructure from scratch. Ripple spent over a decade doing exactly that, and now it’s packaging the finished product for them.

Ripple’s $4 Billion Acquisition Stack

The buying spree started with Hidden Road for $1.25 billion, a prime brokerage clearing roughly $3 trillion annually. That was rebranded as Ripple Prime. Rail came next at $200 million, adding stablecoin payment rails. GTreasury followed at $1 billion, cracking open the corporate treasury market. Palisade rounded it out with institutional custody and wallet technology.

In December 2025, the OCC granted Ripple conditional approval for a national trust bank charter, giving the company direct access to US banking rails.

Brad Garlinghouse has been deliberate about how he frames this.

“Banks are our customers. If we want these technologies to have the biggest impact on the largest number of people, banks are the touch point,” he said.

Asked directly if Ripple would buy a bank, he kept it short: “They’re our customers.”

Also Read: XRP Ledger News Today: AI Agents Can Now Pay With XRP and RLUSD via x402

XRP Supply Squeeze Builds Ahead of Feb 26 ETF Deadline

Separately, Cheeky Crypto highlighted that the SEC faces a February 26 deadline on T. Rowe Price’s active crypto ETF, which lists XRP as a core eligible asset. T. Rowe Price manages $1.8 trillion in assets.

“We believe that blockchain technology and digital assets will play an important role in the future of the financial services industry,” the firm stated in its filing.

US spot XRP ETFs already hold over $1 billion in net asset value, representing more than 1% of circulating supply. Since January, 42 new wallets holding over 1 million XRP each have appeared on-chain.

Ripple’s 2026 roadmap includes native lending and zero-knowledge proofs on the XRP Ledger. But analysts also flag a key risk: enterprise adoption of Ripple’s infrastructure “may not immediately translate into proportional demand for the XRP token itself, creating a lag in price discovery.”

XRP is trading at $1.44 with a market cap of roughly $87 billion.

This Might Interest You: Why Is XRP Price Outperforming Bitcoin After the 2026 Crypto Crash?

The post IoTeX Bridge Hacked for $8.8M via Private Key Exploit, IOTX Price Dips appeared first on Coinpedia Fintech News

IoTeX’s cross-chain bridge was hit by a private key exploit on February 21, draining over $8 million in crypto assets and sending the IOTX token tumbling. The attack, which unfolded between 7 and 9 AM UTC, gave the hacker control over IoTeX’s TokenSafe and MinterPool contracts.

On-chain analyst Specter was among the first to flag the breach, reporting that the attacker drained $4.3 million in tokens including USDC, USDT, IOTX, PAYG, WBTC, and BUSD. The stolen assets were quickly swapped to ETH, with approximately 45 ETH bridged to the Bitcoin network.

But that was only part of the damage.

Attacker Minted Millions in CIOTX and CCS Tokens

Beyond the initial drain, the hacker exploited the compromised contracts to mint $4 million in CIOTX tokens and $4.5 million in CCS, pushing total estimated losses toward $9 million.

Blockchain security firm PeckShield confirmed the exploit on X, writing: “The IoTeX Bridge has been hacked for over $8M worth of crypto due to a compromised private key. The hacker has swapped the stolen funds to $ETH and has started bridging them to BTC via THORChain.”

#PeckShieldAlert The IoTeX[.]io Bridge @iotex_io has been hacked for over $8M worth of crypto due to a compromised private key.

The hacker has swapped the stolen funds to $ETH and has started bridging them to #BTC via #Thorchain. pic.twitter.com/uNWHzahk4F

— PeckShieldAlert (@PeckShieldAlert) February 21, 2026

Three attacker addresses have been publicly identified so far.

IoTeX Says Actual Losses Are Lower

IoTeX confirmed the breach by 10:30 AM UTC and pushed back on the circulating estimates. The team stated that “initial estimates indicate the potential loss is significantly lower than circulating rumors suggest.”

The company added that it has “already coordinated with major exchanges and security partners, which are actively assisting in tracing and freezing the hacker’s assets.”

We are aware of recent reports regarding suspicious activity involving an IoTeX token safe. Our team is fully engaged, working around the clock to assess and contain the situation.

Initial estimates indicate the potential loss is significantly lower than circulating rumors…

— IoTeX (@iotex_io) February 21, 2026

IOTX Price Reacts to the Exploit

IOTX is currently trading near $0.0049, down 9.2% over the last 24 hours, with daily volume surging over 507%.

This incident follows a rough stretch for cross-chain bridges in 2026. Just three weeks ago, CrossCurve lost $3 million in a separate bridge exploit, and January alone saw nearly $400 million in total crypto thefts industry-wide.

IoTeX says the situation is “under control” and has promised continued updates. Analysts are now watching whether the frozen funds can be recovered before the attacker moves them further.