Odaily News According to its 13F disclosure for the period ending December 2025, Italian banking giant Intesa Sanpaolo reported holding approximately $96 million worth of Bitcoin spot ETFs, including the ARK 21Shares Bitcoin ETF and the iShares Bitcoin Trust. Simultaneously, Intesa Sanpaolo also holds a significant put option position on Strategy, which the market interprets as a hedge against Strategy's stock price being overvalued relative to its Bitcoin asset value (mNAV) while being long on Bitcoin ETFs. (CoinDesk)

Odaily News According to official sources, Centrifuge and Pharos have announced a partnership aimed at distributing and operating institutional-grade assets, such as tokenized U.S. Treasuries (JTRSY) and AAA-rated structured credit products (JAAA), on-chain at scale through a shared infrastructure framework. This collaboration will integrate Centrifuge's tokenization infrastructure with Pharos's Layer 1, providing a liquidity and distribution layer for assets issued by Centrifuge to address the distribution challenges of institutional assets in on-chain finance.

Bhaji Illuminati, CEO of Centrifuge Labs, stated that tokenization alone cannot solve issues of access and usability, and this partnership focuses on building the distribution and infrastructure layer.

Wish Wu, CEO of Pharos, noted that the challenge lies not in demand but in infrastructure, and the collaboration aims to create an environment where institutional assets can remain active on-chain.

Pharos is a financial Layer 1 designed for RealFi, developed by a team of former Ant Group leaders and engineers, and has received investments from institutions such as Hack VC and Faction VC.

Odaily News Cryptocurrency researcher anıl posted on the X platform, stating that historical data shows Bitcoin reaches its price bottom when the MVRV Z-Score falls below 0, especially below -0.20. In the current cycle, the lowest value Bitcoin touched was +0.26, which means the classic "green zone" has not been tested. In every previous major cycle, the Z-Score has entered negative territory. If this value enters negative territory again, it may signal the most attractive medium-to-long-term risk-reward ratio interval for Bitcoin.

Odaily News Iranian officials have proposed suspending uranium enrichment activities, transferring part of its uranium stockpile offshore, and reaching a commercial agreement with the United States to advance nuclear negotiations and avoid a potential U.S. strike. However, it remains uncertain whether these measures will satisfy U.S. President Trump unless Iran commits to a complete halt of its uranium enrichment activities. (The Wall Street Journal)

Odaily News According to Onchain Lens monitoring, BlackRock (0x4a2...b82) deposited 1,700.93 BTC (worth $115 million) and 22,661 ETH (worth $44.55 million) into Coinbase.

Odaily News According to a post by Cointelegraph on the X platform, El Salvador continues to increase its Bitcoin holdings, with its BTC holdings rising to 7,565.37.

According to Arkham monitoring, the value of Machi Big Brother's Hyperliquid account has fallen below $1 million. To replenish the margin for his latest Hyperliquid long positions, Machi Big Brother utilized funds deposited into the PleasrDAO treasury 5 years ago. His net worth was close to $100 million 5 months ago, and his total losses currently stand at $28 million.

Odaily News, according to a post by crypto analyst Maartunn on platform X, BTC open interest has fallen 55% from its all-time high, representing the largest drop since April 2023.

Odaily News, according to a post by crypto analyst Darkfost on the X platform, long-term holders (LTHs) are showing early signs of stress. As the market correction continues, LTHs are beginning to feel pressure based on the SOPR (Spent Output Profit Ratio) metric. Although the annual average SOPR for long-term holders is 1.87, the metric has now fallen below the threshold of 1 to 0.88, marking the first occurrence since the end of the 2023 bear market. This indicates that long-term holders are gradually starting to sell at a loss, reflecting rising market pressure.

However, this trend is not yet fully established. Looking at the monthly average, the SOPR remains at 1.09, suggesting that over a broader timeframe, most sales are still profitable. Therefore, the market has not yet entered a true long-term holder capitulation phase. These are merely early signs of weakening sentiment, which could subside if the market stabilizes, or intensify if selling pressure persists.

Odaily News: Leon Waidmann, Head of Research at Lisk, posted on the X platform stating that Polygon's daily USDC transaction volume has reached a record high, exceeding 12 million. This figure far surpasses other blockchain networks, where daily USDC transaction volumes are all below 3 million. The transaction volume data for Base, Arbitrum, and the Ethereum mainnet are lower compared to Polygon.

1. The correlation between the Japanese Yen and the Topix index has turned positive for the first time since 2005;

2. DeFiLlama: Over 60 chains have monthly revenue/fees below $1,000;

3. Backpack initiates identity verification ahead of TGE;

4. Lending protocol ZeroLend announces it will cease operations;

5. The whale Bitcoin inflow ratio on the Binance platform has increased significantly over the past two weeks, potentially linked to activity from "BTC OG insider whales";

6. The Coinbase Bitcoin Premium Index has been in negative territory for 33 consecutive days, setting the longest "negative streak" record since May 2023;

7. Binance launches a USD1 Position Airdrop campaign with a total prize pool incentive of 235 million WLFI tokens;

8. Total LP reward distribution on the Polymarket platform surpasses $12.86 million, with over 66,000 participating addresses;

9. The "Sky-high Pikachu Card Auction Price" betting event on Polymarket concludes, with the final transaction price exceeding $16 million;

10. Kalshi transaction volume in February exceeds 34.8 million, potentially setting a new monthly high;

11. Analysis: Bear market expectations persist until mid-2027, closely monitor the crossover signal of the 90-day and 365-day moving averages;

12. US fast-food chain Steak 'n Shake: Adoption of BTC payment and reserve strategy leads to significant sales growth;

13. GBP stablecoin issuer Agant: UK crypto legislation may take effect in 2027;

14. Market News: Charles Schwab increases holdings by over 91,000 shares of Strategy stock, with total holdings valued at $168 million;

15. Total market value of RWA assets on the Ethereum chain surpasses $15 billion;

16. Data: EtherFi's single-user revenue reaches $256, far exceeding payment platforms like Revolut, Wise, and SoFi;

17. Analyst: The number of new crypto funds hits a 5-year low, with total fundraising from 2023 to 2025 only approaching the full-year 2022 figure.

Odaily News CryptoQuant posted on X platform, stating that currently $47.5 billion in stablecoins is concentrated on a single exchange. Binance holds 65% of all stablecoin liquidity across exchanges, while its competitors still lag far behind, even as outflows slow during bear markets. Funds are not leaving the crypto space but are becoming concentrated.

Odaily News: Crypto KOL Darkfost posted on the X platform, stating that Binance's stablecoin net inflows have been in negative territory for three consecutive months, indicating a continued contraction of available liquidity in the crypto market. This phenomenon last occurred during the 2023 bear market. When major platforms like Binance, which concentrate a large amount of market liquidity, experience outflow dominance, it reflects investors' genuine de-risking position adjustments, meaning funds are gradually leaving the exchange ecosystem.

In December last year, Binance's monthly net outflow of stablecoins had already reached approximately $1.8 billion; this dynamic intensified significantly in January this year, with a net outflow of nearly $2.9 billion. February continued this trajectory, and although only half of the month has passed, nearly $3 billion in outflows have been recorded. Meanwhile, Binance's stablecoin reserves have declined substantially. Since November, reserves have dropped from about $50.9 billion to $41.8 billion, a contraction of nearly $9 billion during this period. This persistent decline in reserves points to weakening demand and more defensive position adjustments by investors. Against a backdrop of rising global uncertainty, a difficult-to-interpret macroeconomic environment, and escalating geopolitical tensions, these outflow signals indicate an increased willingness to reduce risk exposure. Market participants tend to adopt a wait-and-see approach, which mechanically adds pressure to liquidity and overall market dynamics.

Odaily News On the evening of February 16th local time, while answering reporters' questions about the Epstein case aboard the "Air Force One" presidential aircraft, US President Trump emphasized that he himself has been proven innocent, while more Democrats who initially sought to target him have become implicated. He also stated that the recent performance of former US First Lady and former Secretary of State Hillary Clinton during the Munich Security Conference in Germany was as if she were suffering from "Trump Derangement Syndrome." (Jin10)

According to Arkham monitoring, the open interest for JELLYJELLY has surged significantly on the OKX and Bybit platforms. Concurrently, exchanges such as MEXC, KuCoin, and Bitget have observed front-running accumulation activities, potentially indicating price manipulation.

Odaily News Crypto KOL Edgy posted on platform X, stating that 85% of token launch projects in 2025 are operating at a loss. Deals backed by venture capital firms are only managing to break even, with some projects even suffering significant losses. A chart from Galaxy Research shows that in Q2 2022, crypto venture capital firms raised nearly $17 billion in a single quarter through over 80 new funds; however, the return on investment for venture capital firms has been declining since 2022, with the number of new funds hitting a 5-year low. The amount raised last quarter was only 12% of that in Q2 2022. The $8.5 billion invested by venture capital firms last quarter was not new capital but leftover funds raised in 2022. The total capital deployed from 2023 to 2025 is roughly equivalent to the amount raised in the single year of 2022. The model of fundraising, launching tokens, and dumping them on retail investors is coming to an end. As the influence of venture capital firms wanes, projects with real users and revenue will prevail. The future will see fairer launch methods, less insider dumping, and more developers focused on optimizing products rather than fundraising.