Blockonomi

TLDR:

Dubai’s real estate tokenization enters Phase Two, putting 7.8 million tokens up for regulated secondary market trading.

Ctrl Alt and DLD built a controlled trading framework to test market efficiency while protecting investor interests and governance.

ARVA management tokens and ownership tokens work together on-chain to create one immutable record of property ownership.

All Phase Two transactions settle on the XRP Ledger, secured by Ripple Custody within Dubai’s regulated digital asset framework.

Real estate tokenization in Dubai has reached a new milestone. Ctrl Alt and the Dubai Land Department (DLD) have launched Phase Two of their Real Estate Tokenization Project Pilot.

This phase introduces controlled secondary market trading for tokenized property assets. The move follows a successful pilot that tokenized ten properties worth over $5 million.

Around 7.8 million tokens issued during the first phase are now eligible for resale within a regulated trading environment.

Secondary Market Trading Opens Under Regulated Framework

Phase Two creates a structured environment for investors to trade tokenized real estate assets. Trading takes place on the project’s distribution platform, keeping transactions aligned with existing land registry processes. All on-chain activity continues to run on the XRP Ledger and is secured by Ripple Custody.

The Dubai Land Department and Ctrl Alt designed the secondary market to test market efficiency and operational readiness.

Thrilled to see Phase Two launch for Dubai @Land_Department Real Estate Tokenization Project! Building on the pilot, controlled secondary market trading is now live for tokenized properties on the XRP Ledger, secured by @Ripple Custody via our partner @CtrlAltCo

This is massive…

— Reece Merrick (@reece_merrick) February 20, 2026

Governance structures and investor protections remain central to the framework’s design. This approach ensures trading activity stays within regulatory boundaries set by VARA.

Ctrl Alt serves as the tokenization infrastructure partner for the project. The firm minted and issued the original title deed ownership tokens during Phase One. Now, it is deploying the secondary market functionality for Phase Two operations.

Robert Farquhar, CEO, MENA at Ctrl Alt, spoke about what the phase represents for Dubai’s digital asset landscape:

“We’re proud to work with the Dubai Land Department and VARA on Phase Two of the project, demonstrating what is possible when governments and institutional-grade innovation come together to build market-leading digital rails. Secondary market trading is essential to that outcome.”

Dual Token Framework Supports Smooth Fractional Ownership

For Phase Two, Ctrl Alt will issue Asset-Referenced Virtual Asset (ARVA) management tokens. These tokens facilitate regulated secondary-market transfers alongside the original ownership tokens. Both token types are recorded on-chain, creating one immutable ownership record.

Ctrl Alt engineered a technical framework to support the dual operation of ARVA management tokens and ownership tokens on-chain. This structure handles the complexity behind the scenes.

Distribution platforms like PRYPCO can then deliver fractional real estate experiences without building their own tokenization infrastructure.

Matt Acheson, CPO at Ctrl Alt, described the engineering approach behind the system:

“Our goal was to build a secondary market infrastructure that is efficient for the entire ecosystem while maintaining the controls and governance required by the DLD and VARA. We manage the underlying complexity of this tokenization technology so that distribution platforms can deliver smooth, fractional real estate experiences to their end users.”

Ctrl Alt holds a licensed Virtual Asset Service Provider status and was the first firm to receive an Issuer license from VARA.

The company additionally holds a Broker-Dealer license, strengthening its position to support regulated token transfers.

These credentials allow Ctrl Alt to operate within Dubai’s formal digital asset framework while supporting government-led real estate innovation.

The post Dubai Real Estate Tokenization Enters Secondary Market Phase With 7.8 Million Tokens Now Up for Trading appeared first on Blockonomi.

TLDR:

Treasury T-bill issuance holds a +0.80 correlation with Bitcoin price over the last four years of data.

M2 money supply has decoupled from Bitcoin, making it an unreliable indicator for forecasting price direction.

The Fed balance sheet scores a near-zero correlation of -0.07 with Bitcoin, removing it as a credible signal.

T-bill issuance peaked in late 2024, and Bitcoin has shown renewed weakness as early 2026 issuance declines.

T-bill issuance is gaining recognition as Bitcoin’s most reliable macro indicator, pushing aside long-favored metrics like M2 money supply.

A crypto analyst recently shared data pointing to a +0.80 correlation between Treasury T-bill issuance and Bitcoin over four years.

That figure towers above what M2 and the Federal Reserve balance sheet have managed to produce. With Bitcoin last trading around $67,721, the conversation around macro signals is shifting in a clear direction.

Why M2 and the Fed Balance Sheet No Longer Tell the Full Story

T-bill issuance is stepping into the spotlight as M2 money supply loses its grip as a Bitcoin forecasting tool. Crypto analyst Axel Bitblaze posted on X that Bitcoin has already decoupled from M2 in observable stretches. During those periods, M2 stayed flat or moved higher, yet Bitcoin did not respond accordingly.

This chart is worth watching next time..

Not M2 supply, not the fed balance sheet. as we’ve already seen M2 decouple.

there were periods where M2 was flat or even up and $BTC didn’t care..

same with the fed balance sheet. correlation here is basically zero at -0.07.

the chart… pic.twitter.com/bR4UhXX0xr

— Axel Bitblaze (@Axel_bitblaze69) February 20, 2026

The Federal Reserve balance sheet has also struggled to track Bitcoin’s price behavior with any consistency. Bitblaze recorded the correlation between the Fed balance sheet and Bitcoin at just -0.07. That number effectively removes it from serious consideration as a directional signal.

T-bill issuance, however, has held a +0.80 correlation with Bitcoin across the same four-year period. For a notoriously volatile asset like Bitcoin, that reading carries real weight.

Analysts are now paying closer attention to how Treasury market activity channels liquidity into broader risk appetite.

The Four-Year Timeline That Makes T-Bill Issuance Hard to Ignore

The case for T-bill issuance as a Bitcoin signal is built on a timeline that stretches back to late 2021. Bitblaze noted that issuance peaked around that time, and Bitcoin soon followed with its own cycle top.

When issuance began falling through 2022, Bitcoin crashed in the months that came after.

The connection held again in mid-2023, when T-bill issuance bottomed out alongside Bitcoin’s price floor. From that low point, both began climbing in tandem, with Bitcoin trailing the issuance trend by a visible lag.

Through 2024 and into 2025, rising issuance continued to pull Bitcoin higher with that same delayed rhythm.

Then in late 2024, T-bill issuance peaked once more. As early 2026 arrived, issuance started declining, and Bitcoin’s price weakened in step.

Bitblaze summed it up directly: “When the blue line goes up, BTC follows with a delay. When it rolls over, BTC struggles.” The four-year record now has traders watching Treasury issuance schedules as closely as any on-chain metric.

 

The post Move Over M2: Data Shows Treasury T-Bill Issuance Drives Bitcoin Price Cycles appeared first on Blockonomi.

TLDR:

Custodia CEO Caitlin Long called Trump family crypto ties the “big showstopper” blocking the CLARITY Act in the Senate.

Long described the bill’s Senate passage as a “coin flip,” with seven Democratic votes still needed to reach cloture.

Trump-linked projects like World Liberty Financial have made securing bipartisan Senate support significantly more difficult.

Long warned that without legislation, crypto regulations remain vulnerable to reversal by any future incoming administration.

Custodia Bank CEO Caitlin Long has identified Trump family crypto ties as a central obstacle to the CLARITY Act’s Senate passage.

Speaking at ETH Denver on Wednesday, Long said meme coins and ventures linked to President Donald Trump have eroded bipartisan support for the bill.

She described its chances as a “coin flip.” The legislation passed the House in July 2025 but remains stalled in the Senate over ethics concerns and stablecoin disputes.

Long Points to Trump-Linked Crypto as the “Big Showstopper”

Long did not hold back when asked about the bill’s Senate difficulties. She called the Trump family’s involvement in crypto “the big showstopper in the CLARITY Act.”

Projects like World Liberty Financial and Trump-associated meme coins have drawn sharp Democratic opposition. That opposition has made the 60-vote cloture threshold increasingly difficult to reach.

Senator Elizabeth Warren has been among the most outspoken critics of Trump’s crypto activities. Long noted that even Senator Cynthia Lummis, a leading crypto advocate, admitted the controversy has complicated her efforts. “It created controversy,” Long told Decrypt.

“Lummis herself has said it made her job harder.” The ethics dimension has shifted the debate away from policy and toward politics.

Seven Democratic votes are needed to advance the bill past the Senate cloture threshold. So far, that number has proven hard to secure. Long acknowledged that an agreement satisfying both Congress and the White House remains possible.

“There is a possibility they reach an agreement on something the White House can live with, and Congress is comfortable with,” she said, “but they’ve got to be able to get the cloture vote.”

Meanwhile, negotiations are still active. White House officials, lenders, and the Crypto Council for Innovation met on Thursday to discuss stablecoin reward provisions.

That issue has emerged as another major sticking point alongside the ethics controversy. Both problems must be resolved for the bill to move forward.

Long Warns Against Relying on Rulemaking Over Legislation

Beyond the political obstacles, Long raised a broader concern about regulatory durability. She warned that rules established through agency rulemaking carry no permanent weight.

“When a new administration comes in, those rules can be reversed through new rule-making,” she said. A statutory framework, by contrast, requires a much harder process to undo.

Passing the CLARITY Act would lock in a regulatory structure that is far more resistant to political change. “If Congress puts it in statute, it doesn’t mean it can’t be changed,” Long said.

“It’s just a lot harder to change.” That durability is precisely why she believes congressional action matters more than regulatory guidance alone.

Long also addressed the current market downturn with measured perspective. She noted that a 50% drawdown is familiar to anyone who has been in crypto for years. “Those of us who’ve been around for a long time, a 50% drawdown is nothing,” she said.

Bear markets, she added, are an opportunity to build knowledge, with her consistent advice remaining the same: “Bear markets are the best time to get self-educated.”

 

The post Custodia CEO Caitlin Long Says Trump Family Crypto Ties Are Blocking the CLARITY Act in the Senate appeared first on Blockonomi.

TLDR:

BitGo Bank & Trust, N.A. serves as qualified custodian within Figure’s OPEN on-chain public equity network.

Figure’s OPEN network launched in February 2026, enabling equity issuance and trading on Provenance Blockchain. 

The BitGo–Figure integration separates custody from execution, preserving counterparty risk protections for institutions. 

Real-time on-chain settlement reduces reconciliation layers, lowering operational costs for broker-dealers and asset managers. 

Blockchain-native equity trading reached a new milestone as BitGo and Figure completed their first tokenized equity trades.

The trades were executed through Figure’s Alternative Trading System, operating on the Provenance Blockchain. BitGo Bank & Trust, N.A. served as the qualified custodian within Figure’s Onchain Public Equity Network.

The integration brings regulated custody and near real-time settlement to on-chain public equities, offering institutions a more efficient trading framework.

BitGo’s integration with @Figure is now live to help institutions mitigate counterparty risk and achieve cost savings on blockchain-native equity. BitGo serves as the independent trust layer, allowing for near real-time settlement while keeping assets in regulated custody.

The… pic.twitter.com/MauuRN5y7n

— BitGo (@BitGo) February 20, 2026

OPEN Network Brings Regulated On-Chain Equity Infrastructure to Market

Figure’s OPEN network launched in February 2026 as a regulated electronic trading venue. It enables companies to issue and trade equity directly on blockchain infrastructure.

Issuance, trading, and settlement are embedded into a single on-chain environment. This removes multiple intermediary layers that traditionally slow down public equity markets.

BitGo Bank & Trust, N.A. operates as a qualified custodian within the OPEN framework. The bank safeguards assets and provides regulated infrastructure for all participants.

Its custodian role ensures compliance with existing financial regulations for institutions. Consequently, regulated participants can access blockchain-native equity within a familiar oversight structure.

The completed trades demonstrate how tokenized equities can function in a continuous on-chain environment. Settlement activity occurs in real time within a regulated framework on Figure’s ATS.

Trade records are also published directly on-chain, adding a layer of market transparency. This approach removes several reconciliation steps found in traditional market infrastructure.

Mike Belshe, CEO of BitGo, spoke directly to the partnership’s broader purpose for market participants.

“At BitGo, our goal is to provide institutions the infrastructure and ability to trade, secure and build on anything on-chain. Our partnership with Figure moves the industry in that direction with BitGo operating as the independent trust layer to reduce risk, increase transparency and instill confidence in continuous markets.”

Custody Separation and Cost Efficiency Support Institutional Participation

BitGo and Figure maintain a clear separation between custody and trade execution throughout their integration. This preserves the counterparty risk protections that traditional market structure depends on.

Institutions can therefore engage with blockchain-native equity without compromising governance standards. The model mirrors core principles from conventional finance while running on blockchain rails.

By cutting reconciliation layers, the integration reduces operational overhead for market participants. Capital efficiency also improves compared to traditional batch-based settlement systems.

Broker-dealers and asset managers can use this as a repeatable integration model. As a result, on-chain equity products become more accessible to a broader range of regulated institutions.

Mike Cagney, Figure’s Executive Chairman, addressed how qualified custody makes institutional engagement more practical.

“Partnering with BitGo brings qualified custody and institutional-grade controls to the OPEN on-chain public equity network. With instant settlement on Provenance and the potential to meaningfully reduce market-structure friction and costs, this is a concrete step toward modernizing how public equities trade and settle.”

Together, BitGo and Figure have established a scalable framework for blockchain-native equity markets. The model combines blockchain efficiency with governance standards that institutions already recognize and trust.

 

The post BitGo and Figure Execute First Blockchain-Native Equity Trades on Figure’s Alternative Trading System appeared first on Blockonomi.

TLDR:

S&P assigned a BBB- rating to Ledn’s ABS senior notes, the first for a digital asset lender.

The $188M offering was 2x oversubscribed, with institutional demand exceeding the full deal size.

Ledn’s bitcoin collateral stays ring-fenced in custody and cannot be lent out by any party.

The ABS creates a rated benchmark for bitcoin-backed loans, a first in crypto credit markets.

Ledn has closed a $188 million asset-backed security offering backed by its portfolio of Bitcoin-collateralized retail loans. 

Standard & Poor’s assigned the senior notes a BBB- rating, marking the first investment grade rating ever given to a digital asset lending portfolio. 

The deal drew twice the demand it sought, with institutional interest surpassing the full offering size. No crypto-native lender has hit this benchmark before.

Ledn Becomes First Crypto Lender to Earn Investment Grade ABS Rating From S&P

The rating places Ledn in a category previously reserved for traditional asset classes. 

Auto loans, mortgages, and similar instruments have long carried these benchmarks. Bitcoin-backed lending has not, until now. S&P’s decision signals a structural shift in how institutions view crypto credit.

Ledn shared details of the transaction via a blog post published alongside the announcement. The company stated that S&P evaluated its loan book using the same analytical frameworks applied to conventional lending assets. 

Operational procedures, custody standards, and technology platforms were all reviewed. The outcome confirmed that Ledn’s systems met institutional requirements.

The offering closed oversubscribed by a factor of two. 

Demand from institutional buyers exceeded the $188 million target. Ledn did not disclose the specific investors involved. The oversubscription reflects growing appetite for rated crypto credit products among traditional capital allocators.

Ledn noted the ABS structure does not change how client collateral is handled. Bitcoin posted as collateral remains in custody and stays ring-fenced. 

Neither Ledn, its funding partners, nor any financing vehicle can lend out that collateral. The company emphasized this in its blog post to address client concerns about counterparty exposure.

Ledn has issued the first investment grade-rated bitcoin-backed ABS in the digital asset industry.

The senior notes under the offering were rated BBB- by S&P. Plus, the ABS has been 2x oversubscribed, with institutional demand exceeding the $188 million offering size.

This is… pic.twitter.com/D35fwVyxYq

— Ledn (@hodlwithLedn) February 20, 2026

Bitcoin-Backed Lending Gets Its First Institutional Benchmark With This ABS Closing

The company has operated since 2018 and has navigated multiple market cycles, including the 2022 credit crisis. Its loan book maintained a clean performance record through those periods. 

S&P’s review covered that full history. The rating reflects durability across volatile conditions, not just recent performance.

Ledn described the ABS market access as a new liquidity frontier. The structure creates a direct channel between its bitcoin-backed loan portfolio and institutional credit markets. 

This allows funding that operates independently of broader digital asset market conditions. The company framed this as a long-term stability mechanism.

Pension funds and insurance companies typically require investment grade ratings before allocating capital. This deal now meets that threshold for the first time in the digital asset space. 

Ledn’s blog post described the milestone as validation of the standards it has worked to establish. The transaction sets a new pricing and risk benchmark for the sector.

The post Ledn Closes $188M Bitcoin-Backed ABS With First-Ever Investment Grade Rating From S&P appeared first on Blockonomi.

TLDR:

Pakistan’s PVARA formally launches a live crypto sandbox to test real-world virtual asset use cases under regulatory oversight. 

The sandbox framework targets stablecoins, tokenization, remittances, and on- and off-ramp infrastructure inside a supervised environment. 

PVARA Chairman Bilal bin Saqib joined global crypto and finance leaders at the World Liberty Forum in Mar-a-Lago, Florida. 

Goldman Sachs, Nasdaq, Franklin Templeton, and Coinbase participated in forum talks centered on stablecoins and financial innovation.

Pakistan launches crypto sandbox to test digital assets in a live, supervised environment built for real-world virtual asset use cases.

The Pakistan Virtual Assets Regulatory Authority formally approved the framework, marking a concrete step toward structured digital asset oversight.

The sandbox covers tokenization, stablecoins, remittances, and on- and off-ramp infrastructure. All operations run under direct PVARA supervision.

Sandbox Guidelines and the application process will be published on the PVARA website shortly, giving interested firms a clear path forward.

A Controlled Framework for Real-World Digital Asset Testing

The crypto sandbox gives companies a working environment to test virtual asset solutions within defined regulatory boundaries.

PVARA will monitor live operations and review outcomes before building broader compliance rules around them. This approach allows the authority to gather practical market data without reducing its oversight responsibilities.

Rather than regulating from theory alone, Pakistan is now working from observed, real-world results gathered inside a controlled setting.

The Pakistan Virtual Assets Regulatory Authority has formally approved and launched its Regulatory Sandbox for virtual assets.

The Sandbox creates a live, supervised environment for testing real-world use cases including tokenization, stablecoins, remittances, and on- and…

— Pakistan Virtual Assets Regulatory Authority (@PakistanVARA) February 20, 2026

The sandbox targets several key segments of the virtual asset market. Tokenization, stablecoins, remittance solutions, and on- and off-ramp infrastructure are all within the program’s scope.

Each use case will be tested against Pakistan’s specific financial and regulatory environment. This targeted structure ensures the framework remains focused and produces results that are directly applicable to domestic market conditions.

Firms that qualify for the sandbox can operate in a live market environment while remaining accountable to the authority.

The full Sandbox Guidelines and application details will be released on the PVARA website in the coming days. Companies working in the virtual asset space should watch the official website closely for submission deadlines and participation requirements.

PVARA Chairman Attends World Liberty Forum as Pakistan Moves Toward Global Alignment

Bilal bin Saqib, Chairman of PVARA, attended the World Liberty Forum at Mar-a-Lago in Florida earlier this week. The event brought together financial executives, crypto innovators, and policymakers from across the global financial sector.

Discussions centered on the future of finance and digital technology’s growing role in reshaping traditional systems.

Saqib shared updates from the forum directly on social media, describing it as a gathering focused on stablecoins, tokenization, and financial innovation. 

Great day at Mar-a-Lago for the World Liberty Forum.

Wall Street, crypto, and policymakers all in one room. Goldman Sachs, Nasdaq, Franklin Templeton, Coinbase and others aligned on the future of stablecoins, tokenisation, and financial innovation. pic.twitter.com/JvsQ2sWmCp

— Bilal bin Saqib MBE (@Bilalbinsaqib) February 19, 2026

Representatives from Goldman Sachs, Nasdaq, Franklin Templeton, and Coinbase were among the participants in those discussions. The forum reflected a growing global consensus around structured frameworks for digital asset development.

Pakistan’s decision to launch a crypto sandbox to test digital assets aligns with the direction taken by leading financial institutions worldwide.

The domestic framework now gives Pakistani firms a regulated channel to pursue innovations similar to those discussed at the global forum.

As countries move toward structured virtual asset oversight, Pakistan’s sandbox places it among nations actively shaping the next phase of digital finance regulation.

 

The post Pakistan Goes Live With Crypto Regulatory Sandbox: Here’s What It Means for Digital Assets appeared first on Blockonomi.

TLDR:

SBI Ripple Asia and AWAJ signed an MOU to provide XRPL technical support to financial startups in Asia.

AWAJ already holds separate partnership agreements with JETRO and Ripple, expanding its regional influence.

Support under the deal covers system design, security checks, and connections to existing financial infrastructure.

The initiative targets globally scalable XRPL use cases, with Japan positioned as the development launchpad.

SBI Ripple Asia has signed a formal memorandum of understanding with Asia Web3 Alliance Japan. The partnership targets startups building financial services on blockchain technology. 

Both organizations will work together to provide structured technical support. This marks a key step in expanding XRP Ledger adoption within Asia’s growing web3 sector.

SBI Ripple Asia and AWAJ Formalize Technical Support Framework for Blockchain Startups

The agreement focuses on supporting businesses that want to deploy financial services using XRPL. 

SBI Ripple Asia brings deep experience in international remittance and payments infrastructure. AWAJ, meanwhile, operates as a venture studio connecting startups with investors and institutional partners.

According to the announcement, support will cover system configuration, technical design, and security verification. Each engagement will be handled through individual contracts between the parties involved. The scope of support will vary case by case.

SBI Ripple Asia is headquartered in Minato-ku, Tokyo, and is led by Representative Director Masashi Okuyama. 

AWAJ is based in Chuo-ku, Tokyo, and is represented by Hinza Asif. The two organizations say this collaboration is premised specifically on the XRP Ledger.

AWAJ recently signed separate agreements with the Japan External Trade Organization and Ripple. Those deals have positioned it as a central node in Japan’s web3 ecosystem. The new MOU with SBI Ripple Asia adds another layer to that growing network.

SBI Ripple AsiaとAsia Web3 Alliance Japanが提携しXRPL利用さ!

AWAJは最近も日本貿易振興機構(JETRO)とRippleとも提携した,アジアweb3のハブ的機関だね
今提携でXRPLを活用した金融サービスを作る事業者に対し支援するようさ!

XRPL利用の組織が鮮やかに増えたね!… https://t.co/Qq7AbnLHfN pic.twitter.com/VnkEBplhTC

— カエサル・ナルシスト (@crypto_narcist) February 20, 2026

XRPL Positions as Infrastructure of Choice for Asia’s Financial Innovation Push

The announcement highlights growing interest in blockchain-based financial services across the region. 

However, it also acknowledges real barriers: regulatory complexity, security requirements, and business viability concerns. SBI Ripple Asia plans to help startups navigate all of these.

Technical support under this initiative will primarily reach startups in AWAJ’s innovation programs. These programs are designed to take early-stage ideas through proof-of-concept and into commercialization. 

AWAJ describes its model as “hands-on,” going beyond simple networking.

The organizations say the goal extends beyond Japan. They aim to develop financial use cases on XRPL that can scale globally. Japan, in their framing, becomes the origin point for these internationally applicable solutions.

Per the official announcement, the partnership also envisions connection with existing financial systems, not just new blockchain infrastructure. 

This practical framing sets it apart from more theoretical web3 initiatives. The emphasis stays on whether technology can function as a real financial service.

The post SBI Ripple Asia Partners With AWAJ to Drive XRPL Adoption Across Asia appeared first on Blockonomi.

TLDR:

The Supreme Court struck down Trump’s IEEPA tariffs, putting $150B+ in potential refunds on the table for U.S. firms.

Refunds won’t be automatic; companies must file claims or lawsuits to recover payments made under the tariffs.

If tariffs ease, import costs may fall, inflation could cool, and the Fed may have room to cut rates sooner.

Trump retains tariff authority under Sections 232, 301, and 122, though broader tariffs now require stronger legal grounds.

The Supreme Court has ruled Trump’s sweeping tariffs unconstitutional, upending a cornerstone of his trade policy. 

Importers across the U.S. paid over $150 billion under these tariffs. The government now faces pressure to return that money. The ruling reshapes the trade landscape and carries wide economic consequences.

Supreme Court Tariff Ruling Opens Door to $150 Billion in Refunds

The tariffs in question relied on the International Emergency Economic Powers Act, known as IEEPA. The court’s decision strips that tool from the administration’s trade arsenal. It does not, however, eliminate the president’s authority to levy tariffs altogether.

Refunds will not flow automatically to affected companies. According to Bull Theory, businesses will likely need to file formal claims or pursue litigation. That process could take months or years to resolve.

The Supreme Court has ruled Trump's tariffs ILLEGAL and the goverment may have to refund $150 Billion+ to the U.S. companies.

Let us explain
How this refund will work,
The impact on US economy,
and Trump’s Backup plan.

Importers have already paid roughly $150 billion under… pic.twitter.com/G92DSXNZ4t

— Bull Theory (@BullTheoryio) February 20, 2026

If the government approves large-scale refunds, federal revenue takes a serious hit. The fiscal gap could force higher borrowing, which tends to push Treasury yields upward. That creates a new pressure point for bond markets.

At the same time, removing these tariffs could ease cost burdens on importers. Lower import costs typically reduce what businesses charge consumers. That could translate into softer inflation readings over time.

Crypto and Financial Markets Watch Fed’s Next Move Amid Tariff Fallout

The Federal Reserve currently faces a difficult position. Growth signals are soft. Inflation remains sticky. The tariff ruling adds a new variable to that calculation.

If import costs fall and inflation cools, the Fed gains more room to cut interest rates. Bull Theory notes that reduced tariff pressure and easing prices could support more aggressive rate cuts. Lower rates historically benefit risk assets, including crypto markets.

Rate cuts tend to lift consumer spending and business investment. Housing markets also respond quickly to cheaper borrowing. Crypto traders watch these macro signals closely.

Trump still holds several legal tools for imposing tariffs. Section 232 covers national security-based tariffs and applies to specific industries. Section 301 targets countries engaged in unfair trade practices, and it already underpins most China-related tariffs.

Section 122 offers a faster but narrower option, limited in size and duration. Anti-dumping and countervailing duties remain available too, though they require formal legal proceedings. 

Bull Theory points out that what changes most is speed. IEEPA allowed near-instant, broad tariffs. Future tariffs will require investigations and stronger legal grounds.

The post Supreme Court Rules Trump Tariffs Illegal, $150B Refund Now on the Table appeared first on Blockonomi.

TLDR:

Illicit stablecoin flows hit $141B in 2025, the highest figure TRM Labs has recorded in five years.

Sanctions-linked networks drove 86% of all illicit crypto volume, anchored by Russia’s A7 platform.

Guarantee services moved funds that were 99% stablecoin-denominated, peaking above $17B per quarter.

Zedcex and Zedxion processed 83% of volume in USDT before receiving OFAC sanctions in 2026.

Stablecoins have quietly become the backbone of global crypto crime. New data from TRM Labs reveals illicit entities received $141 billion through stablecoin wallets in 2025. 

That figure marks the highest level recorded in five years. Monthly stablecoin transaction volumes surpassed $1 trillion several times throughout the year.

Sanctions Networks Fuel Stablecoin Crime Surge in 2025

According to the report by TRM Labs, sanctions-related activity accounted for 86% of all illicit crypto flows last year. That share climbs to 42% after removing volumes tied to the A7A5 token, a ruble-pegged stablecoin. 

TRM Labs traced much of this activity to the A7 network, a cross-border payment platform tied to Russia. The firm attributed at least $83 billion in direct volume to addresses linked to A7 following a communications leak.

Garantex and Grinex, both sanctioned Russian exchanges, maintained heavy exposure to A7. These platforms operated with stablecoins as internal settlement rails.

They used them to reconcile transactions across affiliated entities and shell companies. 

TRM noted bidirectional flows between A7 and entities registered in jurisdictions including Kyrgyzstan.

A7A5 itself functions almost entirely within sanctions-linked ecosystems, per TRM Labs. USDT and A7A5 together served as core payment instruments in these networks. 

State-linked entities tied to China, Iran, North Korea, and Venezuela intersected with these flows. Stablecoins enabled cross-border value movement outside traditional banking controls.

In January 2026, the US Treasury designated Zedcex and Zedxion. These were the first sanctions ever targeting digital asset exchanges for operating within Iran’s financial sector. 

Between 2024 and 2025, roughly 83% of incoming volume to both platforms was in USDT. TRM’s analysis confirmed they functioned as value-transfer intermediaries, not retail trading platforms.

Stablecoins now account for ~60% of all #crypto transaction volume. But illicit exposure is highly concentrated.

Our latest TRM analysis found:

Tens of trillions of USD in annual #stablecoin transfer volume

A substantial share of illicit activity involves stablecoins

… pic.twitter.com/VfU2eVYbjd

— TRM Labs (@trmlabs) February 20, 2026

Illicit Use Varies Sharply Across Crime Categories

Stablecoin adoption is not uniform across crime types. Illicit goods, services, and laundering networks show near-total reliance on stablecoins. .

Scams and ransomware operators favor Bitcoin at the point of offense before converting later. CSAM vendors recorded significantly lower stablecoin usage, leaning on fragmented payment structures instead.

Guarantee and escrow services showed particularly stark numbers. Roughly 99% of volume through these services moved in stablecoins. Quarterly activity in this category surged from under $1 billion to peaks above $17 billion by mid-2025. 

A sharp drop followed in late 2025 after enforcement actions hit Huione and Haowang Guarantee in October.

TRM Labs flagged professional facilitators as the primary source of stablecoin-linked illicit risk. These include guarantee services, OTC desks, and front-company exchanges. 

Stablecoins offer them speed, low costs, and price certainty at high transaction volumes. That combination makes them operationally attractive for industrial-scale laundering.

The post Stablecoins Now Drive 86% of All Illicit Crypto Flows, TRM Labs Finds appeared first on Blockonomi.

TLDR

BGD Labs announced it will end its contributions to Aave DAO on April 1 after nearly four years of work.

The firm said it will continue supporting Aave v3 and related infrastructure until its contract expires.

BGD Labs cited governance tensions and structural shifts within the Aave ecosystem as reasons for its departure.

The company described an asymmetric organizational scenario involving Aave Labs’ growing control.

Aave Labs has proposed directing all protocol revenue to the DAO treasury while seeking funding for development.

BGD Labs confirmed it will end its work with Aave DAO on April 1, closing nearly four years of technical leadership. The firm said it will complete its current service agreement and assist with a transition plan. The announcement follows governance friction and structural changes within the Aave ecosystem.

Aave Governance Shift and Development Disputes

BGD Labs informed the Aave community through a forum post on Friday. The firm said it wants to ensure continuity before its contract expires. It will continue supporting Aave v3, Umbrella, chain expansions, asset onboarding, and security until April 1.

The company described Aave v3 as the ecosystem’s “crown jewel.” It said it built and refined its core infrastructure since early 2022. It also stated that governance systems “just work” and can operate without major changes.

BGD Labs linked its departure to structural changes within Aave. Aave Labs has moved to lead Aave v4 development and related initiatives. The firm said this shift created an “asymmetric organizational scenario.”

It argued that Aave Labs controls brand assets and communication channels. It also referenced voting influence within governance processes. The firm said these factors introduce centralization risks in a decentralized framework.

BGD Labs criticized what it called an adversarial stance toward improving Aave v3. It said contributors advised on v4 without incentives or design participation. The firm wrote, “the environment no longer aligns with how we operate.”

Transition Plan and Proposed Security Retainer

BGD Labs said it will publish documentation and maintenance guidelines. It wants other contributors to assume its responsibilities smoothly. The firm pledged full cooperation during the remaining contract period.

It confirmed that Aave’s core systems remain stable and future-proof. The team said infrastructure and safety mechanisms can function indefinitely. It credited years of operational procedures and governance tooling.

Aave Labs recently proposed directing all protocol revenue to the DAO treasury. In return, it requested funding for ongoing development work. The plan includes placing intellectual property under a new foundation.

The proposal prioritizes Aave v4 rollout and coordination with the DAO. It also suggests reducing new feature work on v3. The plan outlines a gradual wind-down of v3 after v4 launches.

BGD Labs proposed an optional security retainer from April through June 2026. The firm would respond to incidents affecting Aave v3 and governance systems. The retainer would cost $200,000 and requires DAO approval.

The firm stated it remains committed to a stable transition. It said it will fulfill all duties through the contract’s end date. The optional retainer now awaits a governance vote.

The post BGD Labs Confirms Aave Departure Amid Governance Shift appeared first on Blockonomi.

TLDR

Ripple Chief Legal Officer Stuart Alderoty said lawmakers are now reviewing specific language for the CLARITY Act.

Alderoty confirmed that participants worked through detailed statutory text during recent meetings in Washington.

He thanked Representative Patrick McHenry for helping move the crypto legislation forward.

The CLARITY Act aims to define oversight roles between the SEC and the CFTC.

Industry representatives took part in drafting discussions alongside lawmakers and executive branch officials.

Lawmakers and industry representatives are now drafting precise statutory text for a major crypto bill. Ripple Chief Legal Officer Stuart Alderoty confirmed the shift after meetings in Washington. He said discussions on the CLARITY Act now center on exact wording and implementation details.

CLARITY Act Discussions Move to Technical Drafting Stage

Alderoty said participants reviewed “specific language” during the latest policy session. He shared the update in a public post after the meeting. He stated, “We rolled up our sleeves and went through specific language today.” He added that discussions will continue in the coming days.

Many thanks to @patrickjwitt for today's meeting and for his continued  commitment to get CLARITY across the finish line. We rolled up our sleeves and went through specific language today. Work will continue in the coming days. Let’s get this right and make the US the crypto…

— Stuart Alderoty (@s_alderoty) February 19, 2026

He thanked Representative Patrick McHenry for advancing the legislation. He said McHenry has played an important role in moving talks forward. Lawmakers and stakeholders focused on refining definitions and oversight provisions. They worked through line-by-line text that could shape the final statutory language.

Earlier talks addressed market structure and token classification at a broad level. However, current sessions concentrate on drafting enforceable rules. Participants are now aligning terminology tied to agency jurisdiction. They are also reviewing how the bill assigns regulatory responsibilities.

Ripple Engages Directly in Legislative Negotiations

Ripple has taken part in policy meetings related to digital asset regulation. The company has engaged with lawmakers during negotiations over the bill’s framework. Alderoty indicated that industry representatives contributed directly to drafting discussions. He said participants examined wording that could guide agency enforcement.

The CLARITY Act seeks to define oversight boundaries between the SEC and the CFTC. Lawmakers aim to clarify how agencies classify and supervise digital tokens. Industry groups have argued that unclear definitions created compliance challenges. They have also said that regulatory overlap increases legal disputes.

Ripple’s involvement follows its multi-year court dispute with federal regulators. The company has advocated for clearer federal rules governing digital assets. Alderoty’s recent comments show continued engagement in the legislative process. He described the talks as focused and text-driven.

Officials from the executive branch also attended recent meetings. The White House session indicated coordination across branches of government. However, Congress must pass the bill through both chambers. Lawmakers continue negotiations as they refine draft provisions.

The post Ripple CLO Stuart Alderoty Says CLARITY Act Talks Shift to Drafting appeared first on Blockonomi.

TLDR

Peter Schiff warned that Bitcoin could fall to $20,000 if it breaks below the $50,000 level.

He said such a move would mark an 84% decline from Bitcoin’s all-time high.

Schiff urged holders to sell Bitcoin now as he questioned the current market structure.

He argued that high leverage and institutional ownership could worsen any sharp downturn.

Bitcoin supporters pushed back and defended the asset’s long-term value and network strength.

Peter Schiff renewed his criticism of Bitcoin and warned of a steep decline if prices fall below $50,000. He said a break of that level could push the asset toward $20,000. He urged holders to sell now and framed the risk as severe.

Bitcoin Crash Warning Targets $50K Support

Schiff posted his latest warning on X and pointed to weakening price action.

He wrote, “If Bitcoin price breaks $50K, which looks likely, it seems highly likely it will at least test $20K.”

He added that such a move would mark an 84% drop from the all-time high. He said prior drawdowns followed similar patterns but occurred under different conditions.

Schiff stated, “I know Bitcoin has done that before,” and compared the setup to earlier cycles. However, he argued that current leverage and ownership levels change the risk profile.

If Bitcoin breaks $50K, which looks likely, it seems highly likely it will at least test $20K. That would be an 84% drop from its ATH. I know Bitcoin has done that before, but never with so much hype, leverage, institutional ownership, and market cap at stake. Sell Bitcoin now!

— Peter Schiff (@PeterSchiff) February 19, 2026

He said hype, leverage, and institutional exposure now sit at elevated levels. He warned that these factors could accelerate losses during a selloff.

Schiff has long criticized Bitcoin and promoted gold as an alternative store of value. He repeated his call and told followers to “Sell Bitcoin now!”

Bitcoin previously fell more than 70% after its 2017 peak. It also dropped sharply after reaching its 2021 high.

Those declines occurred before the launch of U.S. spot exchange-traded funds. They also preceded wider corporate treasury allocations.

Market Pushback and Ongoing Divide

Schiff’s comments drew immediate responses from Bitcoin supporters on X. Critics accused him of repeating a bearish stance he has held for years.

One user said investors who followed his silver calls remained “stuck in it for 20 years.” Others noted that Schiff urged sales when Bitcoin traded near $100.

Several replies highlighted Bitcoin’s censorship-resistant settlement network. They argued that global liquidity and open access support its long-term case.

One response said volatility reflects price discovery in a developing system. That user framed swings as part of market maturation.

Schiff has issued similar warnings during previous rallies and downturns. He has maintained that Bitcoin behaves like a speculative bubble.

Meanwhile, Bitcoin now counts spot ETFs, corporations, and institutions among holders. These entities control large portions of the circulating supply.

The debate reflects a divide over whether institutional ownership strengthens or weakens resilience. Schiff’s forecast centers on a potential break below $50,000 and a move toward $20,000.

The post Peter Schiff Urges Bitcoin Sell-Off, Sees 84% Price Plunge appeared first on Blockonomi.

TLDR

Ripple minted 20 million RLUSD tokens, which increased the stablecoin’s circulating supply.

The total RLUSD supply reached 1.53 billion tokens after the latest issuance.

Etherscan confirmed that the transaction was completed through the Ripple Deployer wallet.

Market data showed RLUSD trading close to its $1 value with strong daily volume.

The new mint improved liquidity for exchanges and payments across the Ethereum network.

Ripple expanded its Ripple USD (RLUSD) supply after minting new tokens valued at $20 million on Feb. 19, 2026, and the move increased on-chain liquidity across Ethereum as trading activity remained steady.

RLUSD Supply Expansion

Ripple increased circulation by issuing 20 million RLUSD tokens from its treasury, and the transfer occurred through a confirmed Ethereum transaction. The issuer used a wallet tagged “Ripple: Deployer,” and the transaction finalized within seconds.

The mint raised the total supply to 1.53 billion tokens, and this placed RLUSD in the mid-range of dollar stablecoins. Market trackers showed its supply well below USD-pegged leaders, and this included USDT at more than $183 billion.

20,000,000 #RLUSD minted at RLUSD Treasury.https://t.co/UJ37cINglF

— Ripple Stablecoin Tracker (@RL_Tracker) February 19, 2026

The updated supply followed ongoing plans linked to Ripple’s stablecoin operations, and these plans also include custody features. Ripple has positioned RLUSD for institutional usage, and this extends to settlement and treasury applications.

Market data indicated RLUSD traded near its $1 level, and daily volume passed $100 million. The activity pointed to active movement of tokens, and trackers did not show dormant balances.

Traders saw the new issue expand available liquidity, and this affected exchange pairs on Ethereum. The adjustment improved depth for payment flows, and it also supported potential DeFi integrations.

The 20 million increase supported short-term usage, and analysts observed rising flows in recent sessions. The outcome raised liquidity pools on several platforms, and the movement provided fresh inventory for market operations.

Ripple continued issuing RLUSD when demand increased, and institutions often required new supply for settlements. Treasury rebalancing also influenced issuance timing, and exchanges sometimes requested reserves for trading support.

Data from monitoring platforms confirmed the circulation boost, and the figures aligned with blockchain records. Etherscan listed the transaction with a completed status, and the details confirmed the minting amount.

Broader Ripple Stablecoin Activity

Ripple advanced its ecosystem strategy during the period, and RLUSD remained a core part of this effort. The firm linked the stablecoin to future tokenization channels, and these included institutional workflows.

The ecosystem plan also extended to cross-border settlement, and RLUSD played a role in pilot processes. The stablecoin supported regulated flows, and the updates created new balance points for liquidity teams.

New issuance often reflected fresh institutional requests, and Ripple adjusted supply when market flows changed. Exchanges gained additional resources for trading pairs, and the change bolstered available depth.

The post Ripple lifts RLUSD circulation with fresh $20M mint to strengthen liquidity appeared first on Blockonomi.

TLDR

The Netherlands ordered Polymarket to stop offering services to Dutch users.

Regulators warned that the company will face weekly fines if it does not comply.

Officials said Polymarket operated illegal gambling services without a required license.

The authority stated that prediction markets pose social risks to the public.

Polymarket continued expanding partnerships even as regulatory pressure increased worldwide.

Netherlands regulators ordered Polymarket to halt services after identifying illegal gambling activities, and they issued the directive quickly and pressed the platform to restrict access, while authorities warned weekly fines would follow, expecting immediate compliance from Polymarket.

The Dutch authority stated Polymarket must stop offering prediction markets to residents, and officials demanded proof of compliance and flagged penalties for any further violation.

Regulators said the platform enabled betting without required licenses under national laws, and they argued that such operations breach rules to protect users and ensure oversight.

Regulatory Order in the Netherlands

The agency said users could stake value on uncertain events with payouts, and it added that these structures meet gambling definitions regardless of market design choices.

Officials cited “social risks” including election influence as prediction markets grew rapidly, and they said labels cannot change mandatory licensing requirements within the Netherlands system.

The order set weekly penalties reaching €420,000 with a strict maximum limit, and it required Polymarket to present safeguards proving operations comply with Dutch laws.

Polymarket Response and Rising Pressures

Polymarket provided no comment after receiving instructions to restrict access for Dutch users, and the platform kept expanding commercial partnerships while confronting growing attention from regulators.

The company said Substack integration will supply authors with live data for newsletters, and it also advanced a partnership with Major League Soccer during ongoing growth.

Kalshi asserted its event contracts function as financial instruments rather than gambling, and its chief said users trade directly with peers rather than follow terms.

Courts in the United States now hear multiple lawsuits tied to prediction, and plaintiffs include agencies and private groups claiming unauthorized gambling occurred on services.

Several countries reviewed operators under rules covering consumer safeguards and approval processes, and authorities demanded compliance evidence before allowing returns linked to real-world event resolutions.

Dutch experts said this enforcement fits the country’s standards for strict licensing, and they explained regulators expect early action from firms entering the digital asset fields.

They noted enforcement rises when businesses operate without essential permissions under law, and they said these measures support oversight and strengthen protections for users.

Analysts acknowledged that prediction markets hold informational value but still face strict licensing, and they said informational benefits cannot replace licensing duties required under Dutch gambling.

The directive remains active while regulators track compliance actions from the operator, and it forms the latest regulatory step affecting Polymarket during its ongoing global expansion.

Authorities continue reviewing materials while preparing further checks on platform compliance procedures, and they stated more updates will follow as monitoring expands across the related market.

The post Polymarket Ordered to Exit Netherlands for Running Illegal Gambling appeared first on Blockonomi.

TLDR:

US Q4 GDP grew just 1.4%, well below expectations, signaling economic weakness for investors.

PCE and Core PCE inflation readings exceeded forecasts, raising concerns over rising consumer costs.

Slower growth and higher prices may pressure crypto trading liquidity and market volatility.

Geopolitical risks with Iran add uncertainty to energy markets, indirectly affecting crypto sentiment.

The US economy recorded a sharp slowdown in Q4 GDP, hitting 1.4%, far below the expected 3% growth. Inflation measures, including the PCE Price Index and Core PCE, exceeded forecasts, signaling rising costs for consumers. 

Investors are weighing the potential impact on markets, including crypto trading, amid economic uncertainty. The combination of slowing growth and rising prices presents challenges for monetary policy and market stability.

US Economic Data Raises Crypto Market Tensions

US GDP growth for the fourth quarter is among the weakest in two years, according to data reported by Crypto Rover. The slowdown coincides with inflation readings above expectations, signaling higher consumer prices across goods and services. 

BIG WARNING: US ECONOMY IS IN DEEP TROUBLE RIGHT NOW.

US Q4 GDP just came in, and it’s way worse than expected.

US Q4 GDP was expected at 3% while it came in at 1.4%, the 2nd worst print in 2 years.

This is a clear sign that the US economy is struggling, and I’ve been… pic.twitter.com/VY0phbZreA

— Crypto Rover (@cryptorover) February 20, 2026

Rising costs may pressure disposable incomes, affecting investor liquidity available for speculative markets, including cryptocurrencies. Traders are monitoring these economic indicators closely to adjust exposure in volatile markets.

The PCE Price Index, a preferred measure of inflation, showed significant gains in January, exceeding projections. Core PCE, which strips out food and energy, also rose, pointing to persistent underlying inflation pressures. 

These dynamics place pressure on the Federal Reserve to balance policy between easing and hawkish measures. Market participants are assessing potential scenarios for interest rates and liquidity conditions affecting crypto valuations.

Investor sentiment in crypto markets is increasingly tied to US economic data, as both liquidity and risk appetite respond to macroeconomic shifts. Slower growth may prompt caution, leading to reduced trading volumes and heightened price volatility. 

Rising inflation could push the Fed to maintain tighter policies, which historically compresses speculative asset markets. Analysts note that cryptocurrency traders remain sensitive to macroeconomic policy moves, particularly in the US dollar context.

Trading platforms reported increased activity during the GDP announcement, reflecting rapid adjustments in portfolio allocations. Exchanges including Coinbase and Binance saw heightened volumes in BTC and ETH as investors reacted to the news. 

Market participants are factoring in the dual pressure of slow growth and inflation for near-term trading strategies. Liquidity in smaller altcoins may experience higher volatility as attention focuses on macro-sensitive tokens.

Geopolitical Tensions Add Pressure to Crypto Markets

Tensions in the Middle East, particularly regarding US military planning toward Iran, are influencing global markets, including cryptocurrencies. Reports from Walter Bloomberg indicate potential US strikes targeting Iran’s leadership and nuclear facilities. 

US MILITARY PLANS TARGETING IRAN, REGIME CHANGE POSSIBLE

The U.S. is reportedly preparing military options against Iran, including targeting key individuals and potential regime change if ordered by President Trump, two officials told Reuters.

• Planning builds on prior…

— *Walter Bloomberg (@DeItaone) February 20, 2026

Any conflict could disrupt oil supply routes, indirectly affecting global liquidity and risk appetite in crypto markets. Investors are tracking developments closely for potential market-moving events.

The potential for limited US military action, including naval and air assets, raises uncertainty for energy markets. Tehran has warned of a decisive response if targeted, increasing the risk of regional escalation. 

Crypto traders are considering these geopolitical factors alongside domestic economic data in portfolio strategies. Rising energy costs could feed into inflation expectations, further complicating monetary policy outlooks.

Regional instability coincides with macroeconomic pressures, potentially amplifying market volatility in digital assets. Traders are adjusting exposure in real time, particularly in stablecoins and BTC, seeking safe-haven positions. 

Historical patterns show crypto markets react quickly to both economic and geopolitical shocks. Analysts suggest monitoring these developments closely to anticipate liquidity shifts and trading trends.

The post Crypto Feels Macro Shock as US Economy Falters and Iran Conflict Risk Grows appeared first on Blockonomi.

TLDR

A federal judge in Tennessee granted Kalshi a preliminary injunction that blocks state gambling enforcement.

The court determined that Kalshi is likely to prove its sports contracts fall under federal derivatives law.

Tennessee regulators had accused the platform of offering unlicensed sports betting.

The judge stated that overlapping federal and state control could disrupt Congress’s regulatory structure.

Kalshi argued that its markets operate as swaps regulated by the CFTC under federal law.

Federal court action reshaped the dispute as a Tennessee judge granted Kalshi temporary protection from state gambling enforcement, and the order backed the platform’s claim that federal law governs its sports contracts and therefore bars state control. The ruling also advanced the company’s broader effort to defend its federally regulated model.

Federal Ruling Shifts the Case for Kalshi

Judge Aleta Trauger issued a preliminary injunction and blocked Tennessee officials from enforcing gambling laws against the exchange. She stated the company showed strong grounds under federal derivatives rules and therefore required temporary relief.

Her order addressed ongoing friction between federal oversight and state rules and pushed the case into new territory. She held that dual control could disrupt the uniform system created by Congress and thus warranted judicial intervention.

Kalshi argued that its sports contracts operate as swaps under the Commodity Exchange Act and therefore fall under CFTC authority. The company maintained this stance as regulators pursued state actions that challenged its federal position.

Tennessee regulators issued cease-and-desist letters and accused the firm of unlicensed sports wagering under state law. The agency defended its view, yet faced the injunction that halted its enforcement authority.

The court highlighted the platform’s registration as a designated contract market and referenced federal standards that guide such exchanges. It emphasized that these standards address oversight concerns and therefore influence jurisdictional boundaries.

Legal teams for the state signaled further arguments as the case advances and prepared their next filings. They stressed that state rules target sports betting and therefore remain relevant to local oversight.

The injunction’s scope covers pending enforcement steps and pauses state penalties while the lawsuit proceeds. The order keeps current markets active and prevents new state actions.

Broader Dispute Reaches New States

The conflict expanded as Nevada regulators pursued a civil case and challenged the platform’s sports markets. That action pressed the firm to defend its model across multiple courts.

Other states reviewed similar issues and raised new questions about federal and state boundaries. Their approaches created varied outcomes and shaped parallel disputes.

Kalshi continued to argue that federal law preempts conflicting state measures and protects its event contract structure. Its filings repeated this point and pushed for clear jurisdiction.

The Tennessee ruling influenced related debates because other courts monitored the case closely. They reviewed key arguments and weighed their next steps.

The legal landscape evolved as filings increased and hearings progressed across regions. These updates guided regulators and market operators.

State agencies prepared responses and defended their reading of sports betting statutes in each venue. They claimed their frameworks addressed public oversight and guided their positions.

Federal regulators tracked the dispute as the CFTC reviewed developments across courts. That agency regulates the platform and manages its compliance.

The post Kalshi Wins Court Shield in Tennessee as Fight Over Sports Contracts Intensifies appeared first on Blockonomi.

TLDR

Grayscale increased its Cardano allocation in the Smart Contract Fund as part of its latest portfolio shift.

Zach Humphries stated that many traders may underestimate ADA’s long-term potential despite recent volatility.

The analyst said Cardano’s focus on Bitcoin DeFi could set it apart from other smart contract networks.

He explained that Bitcoin-driven liquidity could improve ADA’s appeal to institutions exploring new exposure.

Cardano advanced its Bitcoin DeFi work through a live BTC swap demo and the launch of the Cardinal protocol.

Cardano gained fresh attention as Grayscale raised its ADA weighting while analyst Zach Humphries pointed to rising Bitcoin DeFi activity, and he argued that current market conditions present a chance for accumulation as ecosystem development continues.

Grayscale and Cardano Allocation Shift

Grayscale raised its Cardano allocation within its Smart Contract Fund and drew interest across the market. The fund lifted ADA’s share from 19.50% to 19.55% and later moved it to 20.07%.

Humphries said the steady adjustment shows continued confidence from the asset manager. He added that many traders may overlook ADA’s long-term position. He noted that changing market flows often cause short-term exits.

The Smart Contract Fund holds several leading networks. It includes Solana at 28.58% and Ethereum at 28.41%. It also includes Hedera, Avalanche, and Sui.

The analyst stated that the shift comes during strong development inside the Cardano ecosystem. He pointed to fresh activity across core infrastructure. He also pointed to rising interest from developers.

Cardano, Grayscale, and Bitcoin DeFi Expansion

Humphries linked the allocation increase to Cardano’s ongoing move into Bitcoin-based DeFi. He said this direction could set it apart from other platforms. He added that this change could draw wider liquidity.

He explained that the network aims to bring Bitcoin holders into DeFi without giving up custody. He shared that non-custodial collateral models support this design. He also said stablecoin tools build further activity.

The analyst said this model could give Cardano an edge in a space led by Ethereum and Solana. He added that even moderate engagement could drive higher volumes. He also said this approach could shift user attention.

He noted that institutions continue to explore new blockchain exposure. He said Bitcoin-driven flows may support ADA’s appeal. He added that ADA could gain stronger visibility as this trend expands.

Humphries said many traders often watch Solana and Ethereum. He added that this sometimes causes ADA to be overlooked. He also said the new strategy may improve Cardano’s position.

Bitcoin DeFi Progress on Cardano

Cardano advanced its Bitcoin DeFi work through several public demonstrations. Developers carried out a live swap of Bitcoin for Minswap tokens at a major industry event. The event took place during the Bitcoin 2025 gathering.

Input Output Global later launched Cardinal. The protocol lets users bridge and stake BTC within Cardano’s extended UTXO framework. It also builds new paths for cross-chain activity.

Cardinal introduced fresh options for BTC holders. It lets them stay within a non-custodial environment. It also supports wider DeFi participation.

Development teams continue to expand these tools. They aim to unlock new liquidity routes. They also plan to broaden interaction across networks.

The post Grayscale Boosts Cardano Allocation as Bitcoin DeFi Strategy Gains Traction appeared first on Blockonomi.

TLDR

Binance introduced the Junior program to support family-focused digital finance education.

The Junior app operates as a supervised sub-account that links directly to a parent’s main Binance account.

The system blocks trading features and limits access to prevent young users from entering high-risk markets.

Parents control all transfers and authorizations, while young users can view balances and receive crypto.

Binance allows each parent to create up to five Junior accounts for family use.

The company confirmed that Binance Junior serves learning goals and does not support speculative activity.

Binance introduced a new family-focused product as its SAFU reserve crossed the $1 billion mark, and the two moves advanced separate goals and timelines, yet they shaped the company’s expanding ecosystem together and created fresh activity around digital learning tools.

Binance Junior Program Overview

Binance rolled out Binance Junior to give families a structured way to teach digital finance. The company positioned the product as a savings and education tool for young users.

Parents created sub-accounts through their primary profiles, and the system linked the accounts with a QR scan. The setup allowed clear oversight and direct control.

#Binance SAFU Fund Asset Conversion – Final Update

Binance has successfully completed the final tranche purchase of 4,545 BTC, finalizing the $1 billion transition of SAFU stablecoin reserves into Bitcoin.

This transition was completed within 30 days of the initial… pic.twitter.com/NJbNPS1b0I

— Binance (@binance) February 12, 2026

The app restricted trading access, and it blocked high-risk features to keep young users away from market speculation. The structure focused on learning rather than trading.

Parents managed deposits, withdrawals, and transfer limits, and they set all authorizations as needed. The company said, “Parents remain fully responsible.”

Children viewed balances and received transfers, and they used Flexible Simple Earn where eligible. Users aged 13 and above accessed Binance Pay with preset daily caps.

The company continued shaping its platform with new products, and Binance Junior aligned with this broader strategy. The service aimed to support digital education in a controlled setting.

Parents created up to five accounts, and the system supported each profile without trading access. Transfers stayed within the preset limits.

The tool targeted families seeking long-term education pathways, and the design emphasized steady engagement. The company kept speculation outside the product.

The platform limited payments and blocked merchant access for young users, and it enforced strict controls across all actions. These measures supported the product’s defined purpose.

Regions with growing digital adoption, including parts of Africa, saw increased interest in structured finance tools. Binance referenced uneven access to financial education.

SAFU Fund Reaches $1B in BTC

Binance completed a 15,000 BTC purchase for SAFU at an average price near $70,000. The new allocation pushed the fund’s value to about $1.005 billion.

The company executed another purchase of 4,545 BTC weeks later, and the acquisition added more than $300 million to the reserve. This completed the planned allocation.

The fund supported user protection during platform events, and the company continued to build it with regular adjustments. Binance maintained its BTC-based structure.

Both the SAFU update and the Binance Junior release arrived close together, yet each development served a separate role. The company confirmed no operational link.

The allocation update closed the latest phase of SAFU activity, and the fund remained at its $1 billion target. This marked the most recent factual development in Binance’s internal reserves.

The post Binance Debuts Junior App as SAFU Bitcoin Fund Surges Past $1B Mark appeared first on Blockonomi.

TLDR

Ripple executive Reece Merrick confirmed the launch of controlled trading for tokenized properties on the XRP Ledger.

The Dubai Land Department joined the project to support real estate tokenization and on-chain title management.

Phase two of the project introduced regulated resale of fractional property tokens for broader market access.

The pilot phase previously tokenized ten properties with a value of over five million dollars.

About 7.8 million tokens created during the pilot are now eligible for resale under the new framework.

The project advanced further on Friday as new details emerged and expanded its scope and purpose, and the update introduced controlled trading for tokenized properties. The development created a clear path for broader asset access and drew attention to expanding token markets. The disclosure from senior leadership also showed how partners support the ongoing rollout phase.

Phase Two Expands Property Trading on the XRP Ledger

Ripple executive Reece Merrick confirmed the launch of controlled trading for tokenized properties. He shared the update on X and said the system now supports structured resale activity.

He explained that phase two follows a pilot that tested token issuance and supported early property onboarding. He added that trading now operates under a regulated setup.

The pilot introduced 10 properties worth over $5 million and created 7.8 million eligible tokens. The new phase now enables investors to resell those units.

Merrick said the expansion provides a pathway for wider access to tokenized assets. He noted that the market framework supports investor protections.

The update also shows how partners built the trading model for long-term use. It now connects infrastructure with land registry processes.

Dubai Entities Deepen Real Estate Tokenization With Ripple Custody

The Dubai Land Department joined the project to support asset tokenization and registry integration. The agency now links property data with the blockchain system.

The department works with Ctrl Alt to manage a tokenization engine that issues and transfers title deeds on-chain. This setup allows the market to track property changes.

Partners said the system records all transactions using Ripple Custody for secure verification. They also confirmed that asset movements remain visible to regulators.

The controlled market aims to test operational readiness under real trading conditions. It also helps partners evaluate governance tools.

The update reflects how agencies coordinate to align registry processes with blockchain tools. It supports consistent tracking across each property event.

Controlled Market Framework Drives Regulated Activity for Tokenized Assets

Project leaders said the controlled market creates a clear environment for resale activity. They emphasized that all trades follow set rules.

Merrick stated that investors can enter or exit positions under defined oversight. He said this structure keeps transactions orderly.

The partnership with Ctrl Alt improves how title data moves through the chain of records. It links each update to on-chain documentation.

Teams designed the system to support future expansion. They continue monitoring how participants use the trading functions.

The latest update confirms that phase two is now active with regulated resale features. It also shows that about 7.8 million tokens are ready for trading under the new framework.

The post XRP Ledger Debuts Controlled Trading for Dubai Property Tokens, Ripple Says appeared first on Blockonomi.

TLDR

House Democrats asked Treasury Secretary Scott Bessent to explain safeguards that protect the OCC’s chartering process from outside influence.

Lawmakers requested documentation on any involvement by the White House in the OCC review of World Liberty Financial.

The inquiry focused on concerns over political ties linked to former President Donald Trump.

Lawmakers cited reports of foreign investment in the company and said the issue requires increased scrutiny.

The request followed prior questioning of Bessent about potential conflicts connected to Trump-affiliated crypto ventures.

House Democrats advanced new pressure on Treasury Secretary Scott Bessent as they sought clarity on the OCC’s review of a national trust bank charter tied to a President Donald Trump-affiliated crypto venture, and they moved to secure answers on safeguards around foreign influence, and they pressed for documentation on any White House involvement.

Lawmakers Seek Clarity on Charter Safeguards

Democratic lawmakers asked Treasury to explain protections that keep the OCC’s chartering work free from outside influence, and they stressed the urgency of transparent oversight. They said the process must remain independent because it affects broad federal supervision.

They referenced concerns about political pressure because the company is linked to former President Donald Trump, and they raised questions about possible foreign ownership. They urged Treasury to confirm who engaged with the OCC during the review.

Rep. Gregory Meeks led the letter and requested details on internal controls within the department, and he emphasized the need for clear boundaries. He stated the “process must stay insulated from political or foreign interests.”

He asked Bessent to describe what information Treasury receives from the OCC, and he requested records of any meetings tied to the review. He said the public needs clarity on the charter process.

World Liberty Financial Review Draws New Attention

Lawmakers referenced reports describing foreign investment stakes in World Liberty Financial, and they said those reports require fast scrutiny. They argued that a national trust bank charter would expand its reach across states.

They pressed for confirmation on whether Treasury discussed the application with the White House, and they also requested documentation showing how conflicts are handled. They insisted the public must understand any involvement beyond the OCC.

The lawmakers reminded Bessent that the OCC usually manages charter reviews on its own, and they emphasized that this independence must stay intact. They asked for written assurances that this process remains unchanged.

They cited prior comments from Bessent, who said Treasury cannot “bail out bitcoin,” and they noted his claim that some matters fall outside the agency’s authority. They asked him to restate those boundaries in writing.

Foreign Investment Concerns Expand Scrutiny

Democratic lawmakers pointed to the reported 49% UAE stake in the company, and they highlighted new calls for a national security review. They referenced inquiries from Sens. Warren and Kim.

They also noted that Rep. Ro Khanna opened a separate House probe into the $500 million investment, and they said these steps reflect growing concern. They pointed to Wall Street Journal reporting that first detailed the stake.

They added that Trump has said he knew about the deal, and they argued this comment raised further questions. They said Treasury must provide clarity on all related communications.

The post Treasury’s Bessent Faces New Demands Over OCC Review of Donald Trump Crypto Firm appeared first on Blockonomi.