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The Bitcoin price crash from $126,000 to $60,000 has naturally sent most of the market into a panic, and with sentiment still in the red, the probability of the price falling lower remains high. At this time, the focus has now turned to predictions of when Bitcoin will hit a bottom. Over the years, a number of factors have determined when the price has reached its bottom. But taking into account the current climate, crypto analyst BarneyXBT has outlined three different reasons arguing for and against why the Bitcoin bottom might be in.

Reasons Why Bitcoin Price Could Still Be In A Bear Market

In the post shared on X, BarneyXBT gives three things to consider that might show that Bitcoin is still in a bear market. The first reason given to consider Bitcoin being in a bear market is that large investors are still selling their coins. Satoshi-era whales have been recently seen selling, while Vitalik Buterin, founder of Ethereum, has been selling ETH.

Next on the list of reasons points to the current macro climate. With the tariff war still mostly unresolved, interest rates staying the same, and consumer confidence plunging, the analyst says the macro climate is a “mess.”

The last reason given is the fact that retail seems to be completely gone from the market. This is proven by the lack of liquidity currently flowing into the market. In addition to this, there has been no emergence of new narratives, such as was seen with Artificial Intelligence (AI) back in 2024, among others.

The Argument For A Bull Market

On the flip side, the analyst also gives reasons that suggest that Bitcoin could still be in a bull market. One is the fact that sentiment has plunged to levels not seen since the FTX exchange crash. Now, this is important because the sentiment reached a low at this point, and then the market began to recover.

Another reason is that institutions are not going to let their investments be in vain. The likes of BlackRock and Fidelity have poured billions of dollars into their ETF products, and BarneyXBT explained that it is unlikely they spent this much on infrastructure just to walk away.

Lastly, there is the legendary Bitcoin halving cycle. Past performances show that the bull run has always revolved around the Bitcoin halving, which happens once every four years. Thus, it is possible the BTC price could recover as another halving rolls around in 2028.

A new report from Glassnode says Bitcoin could potentially be closer to a bottoming range than the early phase of the bear market.

Bitcoin Supply In Loss Trend Doesn’t Look Similar To An Early Bear Market

In its latest weekly report, on-chain analytics firm Glassnode has discussed how the current bear market structure is looking from the perspective of the Total Supply in Loss. This indicator measures the amount of Bitcoin that’s currently being held at some net unrealized loss on the blockchain.

Here is the chart shared by Glassnode that shows the trend in the 7-day moving average (MA) value of the metric over the last several years:

As displayed in the above graph, the Bitcoin Total Supply in Loss approached a value of zero as the cryptocurrency’s price hit a new all-time high (ATH) in October. The market downturn that has followed since then, however, has put a large chunk of the supply into loss, causing a sharp surge in the indicator.

Today, the 7-day average value of the metric is sitting at 9.2 million BTC, which is the highest level since the end of the last bear market. Currently, there are just under 20 million tokens in circulation, so the latest value of the Total Supply in Loss corresponds to nearly half the asset’s supply. “This aligns with prior bear market environments where drawdowns approached the 50% threshold and broad investor cohorts were under pressure,” explained the analytics firm.

From the chart, it’s visible that not only is the current level of the metric similar to past bear markets, its structure in fact resembles that of their latter stages, rather than early phases.

Historically, the higher the Total Supply in Loss has gone, the more probable a market bottom has become. The reason behind the pattern is that as loss concentration increases on the Bitcoin network, selling pressure with the motive of profit-taking starts becoming exhausted. Both the 2018 and 2022 bear markets reached their bottoms alongside tops in the metric.

So far, the 7-day MA Total Supply in Loss hasn’t reached the same highs as during previous cyclical bottoms, but it has certainly come close following the most recent jump in the metric. “In structural terms, the market appears closer to a potential bottoming range than to the initial onset of contraction, even as volatility and fragility persist,” noted Glassnode.

BTC Price

Bitcoin recovered above $69,000 on Wednesday, but its price has seen a small pullback since then as it’s now trading around $67,300.

With a White House deadline on the anticipated CLARITY Act set for March 1, crypto policy discussions are intensifying in Washington. On Thursday afternoon, Senate Democrats are scheduled to meet to continue deliberations on the crypto market structure bill. 

Ahead of those talks, the Blockchain Association returned to Capitol Hill to press lawmakers on how decentralized finance (DeFi) will be treated in the latest draft from the Senate Banking Committee.

Blockchain Association Lobbies For Developer Protections

The industry trade group, which represents a range of crypto companies, said its advocacy efforts are focused particularly on Title III of the draft legislation and on preserving the Blockchain Regulatory Certainty Act (BRCA) as negotiations move forward. 

In a post on social media platform X, the organization stated that leaders from 18 member companies were meeting with 24 Senate offices across both the Banking and Agriculture Committees.

According to the association, the stakes extend beyond technical regulatory language. “Today’s meetings are about whether America will keep its commitment to open innovation — and to the developers who build permissionless software,” the group wrote. 

It emphasized that it has consistently pushed for legislation that clearly distinguishes between developers of non-custodial software and financial intermediaries that actually take control of customer funds. 

As Congress works toward a comprehensive framework for digital asset markets, the association argued, policymakers must ensure that DeFi protocols are not effectively pushed out of existence through overly broad rules.

Clear Line Between Custodians And Code Writers 

Central to the debate is the treatment of open-source developers. The group maintains that developers who publish code but do not custody or manage user assets should not be regulated as financial institutions. 

“Open-source developers should not be treated as financial intermediaries when they do not custody or control customer assets,” the association said, adding that the United States has a significant opportunity to lead globally in DeFi innovation if it gets the policy approach right. 

Summer Mersinger, the Blockchain Association’s chief executive officer, reinforced that message in a post earlier Thursday. She described developer protections as foundational to what she called the next wave of American innovation. 

As lawmakers advance market structure legislation, she said, it is essential to draw a clear boundary between entities that hold and control consumer funds and those that merely create and publish open-source software. 

New Bipartisan Crypto Bill 

The debate over developer liability is also unfolding in the House of Representatives. On Thursday, crypto journalist Eleanor Terrett reported that Representatives Scott Fitzgerald, Ben Cline, and Zoe Lofgren introduced the bipartisan Promoting Innovation in Blockchain Development Act of 2026. 

The proposed legislation is designed to protect software developers from prosecution under Section 1960 of the federal criminal code. The bill seeks to clarify that Section 1960 — originally crafted to address unlicensed money transmitters that custody customer funds — applies only to actors who actually control user assets. 

It would exclude developers who simply write or publish code, a distinction that the crypto industry, and especially the DeFi sector, has been advocating to incorporate into the CLARITY Act.

Featured image from DALL-E, chart from TradingView.com 

The Office of the Comptroller of the Currency (OCC) has asked the public for feedback on its proposed framework to regulate stablecoins under the landmark crypto regulation, including proposals to address potential workaround on the interest payments ban.

OCC Lays Out Framework For GENIUS Act Implementation

On Wednesday, the OCC issued a proposed rulemaking to implement the landmark stablecoin legislation, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.

The GENIUS Act was signed into law by US President Donald Trump on July 18, 2025. The legislation establishes a regulatory framework for payment stablecoin activities in the US.

In the 376-page document, the agency included regulations for permitted payment stablecoin issuers and foreign payment stablecoin issuers under the OCC’s jurisdiction and certain custody activities conducted by OCC-supervised entities.

Notably, the OCC will have regulatory authority over certain issuers, such as subsidiaries of national banks or federal savings associations, federal qualified issuers, state qualified issuers, and foreign issuers.

The proposed rules cover all regulations the OCC is required to promulgate under the GENIUS Act, including reserve asset standards, liquidity and custody requirements, risk management controls, audits, and supervisory examinations.

However, it exempts rules related to the Bank Secrecy Act, Anti-Money Laundering, and Office of Foreign Assets Control sanctions, which will be addressed in a separate rulemaking alongside the Department of the Treasury.

“The OCC has given thoughtful consideration to a proposed regulatory framework in which the stablecoin industry can flourish in a safe and sound manner,” said Comptroller of the Currency Jonathan Gould in a statement.

“We welcome feedback on the proposal to inform a final rule that is effective, practical and reflects broad industry perspective. The OCC will continue its work to implement the GENIUS Act and provide OCC regulated entities with more opportunities to meet the needs of their customers and communities,” he added.

Rules To Address Stablecoin Yield Workarounds

The proposed draft also tackled a key issue related to the regulation of these assets: the payments of interest or yield on stablecoins. For context, the legislation prohibits interest payments on the holding or use of payment-purpose stablecoins, but only addresses permitted issuers.

Based on this, the banking sector has argued that the GENIUS Act has “loopholes” that could pose risks to the financial system and has urged senators to include language in the crypto market structure bill, known as the CLARITY Act, that also bans digital asset exchanges, brokers, dealers, and related entities from offering yield.

The OCC expanded on the GENIUS Act ban, highlighting potential areas that must be addressed to prevent these “loopholes.” The agency argued that issuers could attempt workarounds to “make prohibited payments of interest or yield to payment stablecoin holders through arrangements with third parties.”

However, it noted that due to the large and changing variety of such arrangements, it would be impossible to identify and address all of them. Therefore, it proposed to include a presumption that “certain types of arrangements with certain types of persons” would be prohibited payments of yield or interest by the issuer.

The OCC would presume that an issuer is paying the holder any form of interest or yield if: the issuer “has a contract, agreement, or other arrangement with an affiliate or a related third party to pay interest or yield to the affiliate or related third party;” and if the affiliate or related third party “has a contract, agreement, or other arrangement to pay interest or yield (…) to a holder of any payment stablecoin issued” by the permitted issuer “solely in connection with the holding, use, or retention” of these tokens.

Nonetheless, the OCC clarified that the prohibition is not intended to prevent a merchant from independently offering a discount to a holder for using payment stablecoins. It is also not intended to prevent an issuer “from sharing in the profits derived from the payment stablecoin with a non-affiliate partner in a white-label arrangement.”

Sam Bankman-Fried, the co-founder and former CEO of collapsed crypto exchange FTX, has in recent months repeatedly called for a retrial in New York, where he was sentenced to 25 years in prison following the company’s 2022 downfall.

His renewed public statements have coincided with growing online speculation that he could seek a presidential pardon, particularly after former Binance CEO Changpeng Zhao (CZ) was pardoned last year by President Donald Trump.

Sam Bankman-Fried Praises CLARITY Act

The speculation intensified this week after Sam Bankman-Fried posted on X, formerly Twitter, praising the proposed CLARITY Act. In his message, he described the bill as a major milestone for the crypto industry and “a huge achievement” for President Trump. 

He added that he had supported similar efforts in the past to remove oversight of digital assets from former Securities and Exchange Commission (SEC) Chair Gary Gensler, claiming that Gensler had assisted the Biden administration’s Department of Justice (DOJ) in bringing charges against him.

In the same post, Sam Bankman-Fried referenced a letter from the House Financial Services Committee. The document, signed by Chairman Patrick McHenry, called on the SEC to provide records and communications involving the agency’s Division of Enforcement, the Office of the Chair and the DOJ. 

The lawmakers sought information about the timing of charges filed against Sam Bankman-Fried and his arrest, which occurred shortly before he was scheduled to testify before the House Financial Services Committee.

Senator Cynthia Lummis, a prominent supporter of digital assets closely aligned with President Trump’s crypto policy agenda, responded sharply to Bankman-Fried’s remarks. Writing on Thursday, she suggested that his praise for the CLARITY Act was self-serving. 

Lummis Dismisses Pardon Talks

“Someone’s looking for a pardon and doesn’t realize the Clarity Act would have you locked up for much longer than 25 years,” the Senator said in her remarks. 

Lummis further distanced her proposal from any prior legislative efforts associated with Sam Bankman-Fried, stating, “My legislation couldn’t be more different than the bill you tried to buy from Congress over my objection in 2022. We do not need—nor want—your support.”

Her comments were echoed by some social media users, including one who pointed out that the CLARITY Act includes tougher criminal penalties for fraud, misrepresentation and misuse of customer assets when digital assets are involved. 

According to that interpretation, certain crypto-related offenses would be treated as aggravated financial crimes, adding additional years to standard wire fraud sentences. “Please get it passed!!” the user wrote in response to Lummis’ remarks.

The CLARITY Act, also known as the broader crypto market structure bill, remains under negotiation. It is currently on hold as representatives from the banking and crypto sectors prepare for another meeting at the White House scheduled for Friday. 

The talks are expected to focus on unresolved issues, including stablecoin rewards programs, decentralized finance (DeFi) provisions and ethics-related measures that have complicated earlier drafts.

Industry participants and administration officials have indicated that progress is being made. Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets, described last week’s discussions as “a big step forward.” 

In a public message, Witt wrote, “We’re close,” adding that if both sides continue negotiating in good faith, he believes the administration’s March 1 deadline can still be met.

Featured image from Fortune, chart from TradingView.com 

Bitcoin has regained short-term momentum after a roughly 7% surge on Wednesday, providing some relief to a market that had remained under persistent selling pressure. The rebound followed renewed discussion around Jane Street — the global quantitative trading firm that was widely accused in parts of the crypto community of contributing to the 2022 LUNA collapse, although no formal proof ever confirmed direct responsibility. The resurfacing of that narrative appears to have coincided with improved liquidity expectations and short-term repositioning, helping stabilize sentiment after recent volatility.

Despite the rebound, structural stress remains visible beneath the surface. According to top analyst Darkfost, the On-Chain Trader cohort — defined as holders with coins aged between one and three months — has a realized price near $90,000. With Bitcoin currently trading around $68,000, this group is sitting on an average unrealized loss of approximately 24%, a level that historically increases behavioral sensitivity.

Deviation bands around this realized price further contextualize the pressure zone. The upper bands sit near $126,000 and $153,000, while downside thresholds are positioned around $79,000 and $56,000. These levels help frame potential mean-reversion paths, underscoring that although momentum has improved, a large segment of recent buyers remains underwater.

Bitcoin Realized Price Bands Highlight A Critical Inflection Zone

Bitcoin is currently navigating a sensitive phase that could determine whether the recent rebound evolves into a sustainable recovery or merely a temporary relief within a broader corrective structure. Price remains well below the realized price of the 1–3 month on-chain trader cohort, estimated near $90,000, leaving a substantial portion of recent entrants in unrealized loss territory. This positioning typically increases market reactivity, as short-term holders tend to respond quickly to price fluctuations.

Darkfost’s framework around deviation bands provides useful context for assessing potential pressure zones. These statistical ranges help identify where latent profits or losses accumulate. Historically, when Bitcoin has approached the upper “Max” deviation band during this cycle, corrective phases often followed, suggesting that overheated positioning tends to invite distribution or profit-taking.

At present, however, the situation is inverted: traders are largely underwater rather than in profit. That reduces immediate profit-taking risk but increases sensitivity to further downside. Importantly, price still needs a meaningful recovery before this cohort returns to a comfortable average profit position.

Consequently, Bitcoin sits at a technical and behavioral inflection point. Continued stabilization could gradually rebuild confidence, but renewed weakness risks reinforcing defensive positioning and extending the corrective phase.

Bitcoin Holds $65K After Sharp Structural Breakdown

Bitcoin remains under technical pressure despite a recent rebound, with price action currently stabilizing near the $68K region after a steep decline from late-2025 highs. The chart shows a clear structural breakdown below the $90K–$95K zone, which previously acted as strong support. That level now appears to function as resistance, suggesting a transition from bullish expansion toward a corrective phase.

The moving averages reinforce this interpretation. BTC is trading below the 50-period and 100-period averages, both of which are beginning to slope downward. This configuration typically reflects weakening momentum and reduced trend strength. The 200-period average remains lower and still upward sloping, indicating that the longer-term trend has not fully reversed but is under stress.

Volume dynamics add another layer. The most recent selloff occurred alongside elevated volume spikes, pointing to forced positioning adjustments rather than gradual distribution. Since then, recovery attempts have lacked comparable participation, which raises questions about the durability of the bounce.

From a structural standpoint, holding above the mid-$60K zone is critical. Losing that area could expose lower liquidity pockets and intensify downside volatility. Conversely, sustained consolidation here could allow the market to rebuild demand, particularly if broader liquidity conditions begin to improve.

Featured image from ChatGPT, chart from TradingView.com 

The price of Bitcoin has been cut in half since hitting its all-time high. That much is hard to ignore. But according to a new report from financial services firm River, the price chart is telling only part of the story.

Underneath the surface, Bitcoin adoption across institutions, governments, banks, and ordinary merchants has been growing at a pace that the firm describes as historic — and one that has yet to fully show up in the price, River said.

5 Countries, Major Banks, And Record Institutional Buying

Governments are no longer just watching from the sidelines. Based on reports from River, five new nation-states became Bitcoin holders in 2025, including sovereign wealth funds in Luxembourg and Saudi Arabia, a central bank in the Czech Republic, and purchases by Brazil and Taiwan.

River estimates that 23 nation-states now hold Bitcoin in some form, whether through state-backed mining operations, asset seizures, or direct central bank exposure. That is a category of ownership that did not meaningfully exist just a few years ago.

What Bear Market? “There’s no bear market in Bitcoin adoption […] it is compounding in ways that aren’t affecting the price, yet,” River disclosed in a report released Tuesday, which noted that the top crypto asset is down 50% from its all-time high.

On the banking side, 60% of the top US banks are now actively building Bitcoin-related products for their customers. A more favorable regulatory climate in the US has made it possible for banks to hold Bitcoin in custody and offer related services — something that was effectively off the table for most regulated financial institutions not long ago.

Money Flowing In

Institutional investors have been piling in as well. Reports say registered investment advisors have been net buyers of Bitcoin for eight consecutive quarters, putting roughly $1.5 billion into Bitcoin exchange-traded funds every quarter over the past two years.

In total, institutions accumulated 829,000 BTC throughout 2025 — a figure that includes purchases made by businesses, governments, investment funds, and ETF vehicles. River pointed out that behind those institutional numbers are millions of individual people gaining their first exposure to Bitcoin through retirement accounts, brokerage platforms, and corporate balance sheets.

Businesses were the single largest category of buyers in 2025, according to the study. Crypto treasury companies — firms that hold Bitcoin as a core part of their financial strategy — drove the majority of those purchases, with adoption among that group growing 2.5 times compared to the year before.

Featured image from Creative Fabrica, chart from TradingView

Bitcoin is currently testing the $69,000 level as resistance after rebounding from the $64,000 zone, attempting to recover from its recent corrective phase. While the short-term momentum appears constructive, broader market conditions suggest that conviction remains limited. The move higher is unfolding in an environment characterized by reduced participation and compressed liquidity.

According to top analyst Darkfost, February is on track to close as the month with the lowest Bitcoin spot trading volumes since the beginning of 2024. This contraction in activity coincides with BTC revisiting price levels last observed last year, reinforcing the perception of a market stuck in a defensive posture rather than entering a renewed expansion phase.

Despite the slowdown, Binance continues to dominate spot trading with nearly $75 billion in monthly volume, significantly ahead of Gate.io at $25 billion and Bybit at $20 billion. However, overall liquidity across the crypto market remains constrained, particularly following the October 10 shock that saw open interest decline by more than 70,000 BTC — roughly $8 billion in notional value.

Spot Volume Contraction Signals Market Caution

The ongoing decline in spot trading activity provides a useful lens for understanding current Bitcoin market dynamics. Darkfost notes that participation across major exchanges has fallen markedly since the October peak, with aggregate spot volumes roughly halved. Binance’s monthly volume has dropped from about $198 billion to $75 billion, Gate.io from $53 billion to $25 billion, and Bybit from $41 billion to roughly $20 billion. The fact that this pattern spans multiple leading venues suggests a systemic shift rather than exchange-specific behavior.

From a market-structure perspective, shrinking spot volumes typically indicate reduced conviction. When liquidity thins, price moves can become less reliable because they are driven by smaller capital flows. This environment often coincides with consolidation phases, where both buyers and sellers adopt a wait-and-see approach rather than aggressively positioning.

Importantly, weaker spot participation can delay trend formation. Sustained bullish recoveries historically require expanding spot demand, as derivatives-driven rallies alone tend to lack durability. Conversely, declining spot flows may also reflect capital rotation toward other asset classes amid macro uncertainty.

The key variable will be whether spot participation stabilizes or begins to recover. A meaningful rebound in volumes would signal renewed confidence, whereas continued contraction would reinforce the current defensive market posture.

Bitcoin Consolidates Below Key Moving Averages

Bitcoin’s daily chart shows a market attempting to stabilize after a decisive breakdown from the $90,000–$95,000 consolidation zone. The sharp selloff into the low $60,000s was accompanied by a notable spike in volume, suggesting forced liquidation and aggressive distribution rather than orderly rotation. Since then, price has rebounded toward the $68,000–$69,000 area, which now acts as near-term resistance.

Technically, BTC remains below the 50-day, 100-day, and 200-day moving averages, all of which are trending downward. This alignment confirms a bearish momentum structure. The 50-day average has crossed below the 100-day, reinforcing short-term weakness, while the 200-day sits significantly above the current price, signaling that longer-term trend recovery is not yet underway.

The recent sideways movement near $68,000 appears corrective within a broader downtrend. Higher lows have not yet been established on a structural basis, and upside attempts lack expanding volume support.

For a meaningful shift in sentiment, Bitcoin would need to reclaim the $72,000–$75,000 zone and close above declining moving averages. Until that occurs, rallies are likely to face selling pressure, with downside risk remaining toward the $60,000 support cluster if momentum weakens again.

Featured image from ChatGPT, chart from TradingView.com 

On-chain data shows spot demand for Bitcoin is returning as the Apparent Demand metric has started to grow for the first time since late November.

Bitcoin Apparent Demand Has Seen Its 30-Day Sum Turn Green

In a new post on X, CryptoQuant head of research Julio Moreno has discussed the latest trend in the Apparent Demand of Bitcoin. This on-chain indicator provides an estimate for the spot demand for the cryptocurrency that’s present on the network right now. It does so by comparing two metrics: the mining issuance and change in the 1-year inactive supply.

The mining issuance is the amount of the asset that miners are ‘minting’ on the blockchain every day through their mining activities. It can be considered as a measure of the asset’s total production. In contrast, the 1-year inactive supply, corresponding to coins dormant since more than one year ago, represents the cryptocurrency’s inventory.

When the value of the Apparent Demand is positive, it means the decrease in the inventory exceeds the production. Such a trend suggests demand for BTC is going up. On the other hand, the indicator being negative implies coins are being stashed away in inventory, potentially because of a lack of fresh activity.

Now, here is the chart shared by Moreno that shows the trend in the 30-day sum of the Bitcoin Apparent Demand over the last few months:

As displayed in the above graph, the Bitcoin Apparent Demand saw its 30-day sum plummet deep into the red zone during December, implying demand for the cryptocurrency was muted. The metric persisted at these lows during the first half of January, but things started to reverse in the month’s second half.

The Apparent Demand remained at slight negative levels for much of February, but recently, a reversal into the positive territory has finally taken place. “Bitcoin spot demand is growing for the first time since late November,” noted the analyst. For now, the metric’s green level is still relatively small, so it only remains to be seen whether it will go up further in the near future.

In related news, the Coinbase Premium Index has also flipped green for Bitcoin recently, as CryptoQuant founder Ki Young Ju has pointed out in an X post.

The Coinbase Premium Index tracks the percentage difference between the BTC price on Coinbase (USD pair) and that on Binance (USDT pair). In other words, it reflects how Coinbase’s US-centric traffic differs in behavior from Binance’s global userbase.

From the chart, it’s visible that the metric shot up into the positive territory alongside the latest price surge, a potential sign that accumulation from American institutions backed the rally.

BTC Price

At the time of writing, Bitcoin is floating around $68,000, up 4% in the last 24 hours.

Michael Saylor used his Strategy World 2026 keynote on Feb. 25 to argue that Bitcoin-backed “digital credit” is moving beyond Wall Street wrappers and toward programmable distribution on crypto rails, naming Solana and Ethereum as part of that future. The pitch matters because it pushes Strategy’s Bitcoin treasury model into a broader product thesis: use Bitcoin as the capital base, then package credit, yield and liquidity for corporates, retail investors and eventually tokenized markets.

Bitcoin Capital, Credit Product

Saylor framed Bitcoin as the foundation of the stack and Strategy’s Stretch (STRC) as the credit layer built on top of it. In his telling, the company’s business is no longer just accumulating Bitcoin, but “converting capital into credit” by using long-duration capital structures to strip cash flow from a volatile asset and deliver it as a steadier yield product.

“What is Strategy doing? Our company is converting capital into credit. We’re converting economic wealth into a stream of cash flows,” Saylor said. “You need an operating company in order to take a block of economic energy and turn it into a currency, peg it to a currency, strip away the risk, damp the volatility, extract the cash flows in the form of yield and compress the duration to now.”

That framework sits at the center of his case for STRC. Saylor said Strategy arrived there only after working through what he described as increasingly durable forms of leverage, from exchange leverage and margin loans to senior debt, junior debt, convertibles and preferred structures.

The key variable, in his view, is not just headline maturity, but the “stochastic duration” of capital, how long a company can realistically rely on it before covenants, mark-to-market stress or refinancing pressure force a problem.

He argued that variable preferred credit offered the best compromise short of common equity because it maximized optionality and reduced the risk of getting squeezed out of the position during a drawdown.

Saylor also laid out a simple quantitative case for digital credit. Strategy, he said, uses three internal metrics: BTC rating, or collateral coverage; BTC risk, the probability that collateral falls below required levels by the end of the term; and the implied credit spread needed to compensate investors. He contrasted current benchmarks of 78 basis points for investment-grade bonds and 288 basis points for high-yield debt with what he said digital credit could deliver if Bitcoin compounds faster than traditional assets.

His model depends heavily on a constructive view of Bitcoin’s long-run returns. If Bitcoin appreciates at 30% annually, Saylor said, sizable volumes of investment-grade credit can be created against it. If Bitcoin goes nowhere, the same structure starts to look like distressed debt.

He used recent performance to sharpen that distinction. Since Bitcoin’s all-time high about four and a half months ago, Saylor said, Bitcoin had fallen 45%, while STRC had lost “0% of its value” and paid 4.5% in dividends through the drawdown. That, he argued, is the commercial opening: offer a less volatile yield instrument to buyers who want Bitcoin-linked economics without owning the asset outright.

Solana And Ethereum As Distribution Rails

The keynote’s most consequential turn came when Saylor described digital credit as “programmable.” He was not using the term narrowly.

“Programmable means I take the credit and I create it. I turn it into a token, a private fund, a public fund, an ETF, an ETP. I make it a bank account. I make it a crypto account,” he said. “Then I put it on a platform — the NASDAQ, the London Stock Exchange, Solana, Ethereum, Binance, Coinbase Base. There are a lot of different platforms I can put that on.”

BREAKING: Michael Saylor says the future of programmable digital credit will be deployed on Solanapic.twitter.com/F4scOmDaU3

— Solana (@solana) February 25, 2026

He went further, arguing that once credit is packaged as a modular product, issuers can tune volatility, liquidity, staking periods, payout frequency and currency exposure. In that framework, Solana and Ethereum are not the capital base (Bitcoin remains that in Saylor’s model) but potential rails for distributing tokenized versions of the credit product.

That leaves Strategy with a larger ambition than simply selling preferred stock. Saylor said the company intends to deepen STRC liquidity and scale the underlying asset base, while partners build “digital money” and “digital yield” products around it.

If that thesis holds, Strategy is betting Bitcoin-backed credit can move from a public-market niche into a cross-platform product category spanning brokerages, ETFs and on-chain ecosystems.

At press time, Solana traded at $86.97.

A finance veteran is pushing back against critics who have dismissed a $100 XRP price prediction, suggesting that those on the opposing side may simply be missing the bigger picture. He boldly argues that double- and triple-digit prices are inevitable, pointing to its underlying technology as the driving force that could carry the asset toward this ambitious milestone with relative ease. 

Why The XRP Price Could Reach $100 Without Hassle

Paul White Gold Eagle, a financial industry expert, is standing firm in his ambitious prediction that XRP will reach $100, firing back at skeptics who have written off the possibility. After spending 10 years working in bank operations, the veteran stated on X that his experience inside the financial system gave him a perspective most retail investors do not have. 

Unlike front-facing roles where employees interact directly with customers, Paul White Gold Eagle revealed that operations work exposed him to the infrastructure that keeps banking institutions running. He described this infrastructure as “the backbone” of the financial industry. 

Notably, the veteran reflected on a pivotal moment in his career when banks shifted from paper-based processes to digital systems. He recalled that the transition was far more complex and disruptive than anyone anticipated, a lesson he suggests is directly relevant to the transformation he believes Ripple and XRP are now poised to deliver. 

Paul White Gold Eagle further argued that those who doubt XRP’s price potential fundamentally do not understand the cryptocurrency’s underlying technology and the specific role it is designed to play in the global finance sector. He pointed to Ripple’s upcoming CFO dashboard as tangible proof of its utility and real-world application.

The finance veteran also noted that wire reporting systems currently used inside banks still resemble technology from the 1980s. He suggested that the overhaul of these outdated interfaces is a strong signal that “so much is going to change.” For him, a double or even triple-digit price for the altcoin is not a question of if, but when. He likely views it as an inevitable byproduct of XRP’s growth as a global payment system. 

Analyst Says “It Won’t Remain Cheap For Long”

Crypto analyst BarriC is urging investors sitting on the sidelines to pay close attention to XRP. According to him, its current low price is a temporary window before the market sees a massive shift in global financial infrastructure. The analyst argues that once banks and financial institutions start adopting and relying on the altcoin, its valuation model could change completely. 

BarriC believes that once this happens, it could push XRP far beyond today’s single-digit price forecasts of $2, $3, and $4, reaching targets of $100, $ 1,000, or even $10,000 per token. He warns that once XRP reprices, people will look back on a $1-$2 valuation as a once-in-a-lifetime opportunity they missed.

Following a brief and sudden market-wide uptick, the Ethereum price is drawing closer to the pivotal $2,100 mark again, recording a 12% rise in the past day. Despite the bounce on Wednesday, the broader market of ETH is still quite bearish, but bullish sentiment appears to be gaining momentum in the Spot ETFs sector.

Sharp Decline Meets Quiet Ethereum Spot ETF Inflows

The recent price movement of Ethereum has been quite harsh, with steep declines and ongoing volatility significantly impacting market sentiment. However, beyond the persistent waning price action, a different narrative is unfolding in the Ethereum Spot Exchange-Traded Funds (ETFs).

Despite the sell-off, causing ETH’s price to drop from $4,900 to under $2,000, spot ETF flows show renewed interest and, in certain situations, ongoing capital allocation. This discrepancy between robust ETF demand and poor price performance raises the possibility that institutional and long-term investors are seeing the decline as an opportunity rather than a warning.

After a period of significant outflows in the middle of 2025, Leon Waidmann, market expert and head of research at Lisk, highlighted that ETH has seen selling pressure steadily decrease across its exchange funds. The enormous surges of influx that occurred in late 2024 and early 2025 have vanished, but peak panic selling is also turning out to be an issue.

Compared to the previous turbulent periods, the recent flow bars are much smaller in both directions, and the sellers are running out of steam. According to the expert, this trend is relevant because the institutional exodus appears to be exhausting itself despite one of the sharpest ETH drawdowns in recent memory.

Currently, the weak hands that desired to exit the market have already done so, and this does not mean that the price bottom for ETH is in yet. There is still a slight outflow bias in recent weeks, and a clear accumulation signal has not yet unfolded. 

However, the intensity of selling is clearly fading, representing the first thing that needs to happen before any trend reversal emerges. Thus, Waidmann has warned that when selling stops before sentiment recovers, investors should pay attention. Interestingly, this is where the next move begins to develop.

Short Positions On ETH Are Vanishing From The Market

Given the latest bullish response, the Ethereum market is currently undergoing a crucial shift. Market expert and investor CW reported that ETH short positions are now being destroyed completely, suggesting a growing positive market environment. 

The expert highlighted that there are bearish bets left on the ETH market, with investors gradually leaning toward the long side. Despite this major shift in investors’ sentiment, the rate of increase of high-leverage long positions is very slow. 

Data shared by CW suggests that Investors with high levels of leverage seem to have used up much of their remaining capital. However, the expert has classified this trend as a very positive situation that could be pivotal for the ETH’s price.

A senior UK security official is pushing for a temporary freeze on cryptocurrency donations to political parties, warning that foreign governments could exploit the hard-to-trace nature of digital currencies to quietly shape British politics.

Matt Western, who chairs the Joint Committee on National Security Strategy, sent a letter to Housing Secretary Steve Reed on Monday urging the government to act before the threat grows any larger.

Six Agencies, No Clear Leader — And A Problem That Keeps Growing

Western’s concern runs deeper than just donations. He pointed out that enforcing rules around political funding and foreign interference is currently split across six separate bodies — the Electoral Commission, the Metropolitan Police Service, Counter-Terror Policing, the National Crime Agency, MI5, and local police forces.

No single agency is clearly in charge. According to Western, that gap in leadership leaves the UK exposed. His letter recommends creating a dedicated national police unit focused entirely on political finance oversight and foreign interference risks — a longer-term fix to what he sees as a structural weakness in the current system.

“We are concerned that foreign state intent to intervene in UK political finance may grow out to the next election,” Western wrote.

He added that as the UK’s military role in Europe expands and its positions on issues like Ukraine and relations with the US and European Union become more consequential, the incentive for outside actors to meddle in British politics will only increase.

Strict Rules Proposed For Any Crypto That Does Get Accepted

Western did not call for a permanent ban. The moratorium he proposed would stay in place only until the Electoral Commission releases formal statutory guidance on how crypto donations should be handled.

Once that guidance is issued, the freeze would be lifted. But the rules he wants attached to any future crypto donations are strict. Reports say Western’s recommendations include requiring political parties to use only cryptocurrency platforms registered with the Financial Conduct Authority, the UK’s financial services watchdog.

Donations traced back to mixing services — tools commonly used to obscure the origin of funds — would be banned outright. Any crypto received by a political party would need to be converted into regular currency within 48 hours.

Western also pushed for stricter oversight of political donations, including checks on the source of donors’ wealth. He urged tougher penalties for breaking election finance laws and called for broader authority for the Electoral Commission to require banks and other institutions to disclose where donated funds originate.

Featured image from Alamy, chart from TradingView

PayPal, the digital payments company, has seen its stock price slump by almost half its value in recent months, which has led to conversations about who could realistically step in if a deal were ever pursued. Among the names circulating in online discussions is Ripple, the blockchain payments firm, which has been on a spree of acquisitions in recent months.

Although no talks have been confirmed, the idea of Ripple acquiring PayPal is interesting because of the overlap between both companies in digital payments, cross-border transfers, and stablecoins. The question now is what this potential acquisition would mean for Ripple’s ambitions in global finance.

Can Ripple Realistically Acquire PayPal?

PayPal’s share price has fallen by around 46% over the past year, leading to discussions as to whether there might be a takeover of the company very soon. For instance, Fintech startup Stripe is reportedly in early discussions to potentially buy PayPal.

However, there have also been speculations among members of the XRP community as to whether Ripple might actually be in contention to acquire PayPal. Jay Nisbett, commenting on X, described the idea as purely speculation but also noted that it makes sense from a synergy standpoint. 

He pointed out that PayPal’s market capitalization is around the $40 billion mark, which is reportedly below Ripple’s latest private valuation. However, financing such a deal would still be complicated. PayPal is a publicly traded company with a large shareholder base, regulatory obligations, and global compliance frameworks. 

Ripple, on the other hand, is privately held. Any acquisition would likely require capital raises, structured financing, or even a reverse merger mechanism that allows Ripple to effectively enter public markets through PayPal’s listing.

Nisbett also noted that PayPal’s stablecoin, PYUSD, currently has a $4 billion market cap. An acquisition would allow this to be easily integrated into Ripple’s ecosystem with RLUSD and the XRP Ledger.

Another angle involves regulatory positioning. Ripple recently secured expanded regulatory approvals and financial licenses that could theoretically support payment operations on a broader scale. A PayPal acquisition would instantly plug Ripple into PayPal’s established banking and e-commerce distribution network. This includes Ripple’s large share of global online payment processing and its existing cross-border corridors, which are expected to be about 45% of the total market.

Ripple’s Growing Track Record Of Acquisitions

Ripple has been expanding its footprint in recent months through a series of high-profile acquisitions that are placing its business beyond just payments on the XRP Ledger. To put this into context, Ripple has spent about $2.7 billion in acquisitions in the past three years. 

In 2025 alone, the company bought Hidden Road, a multi-asset prime brokerage firm; GTreasury, a global treasury management platform focused on corporate finance; and Rail, a stablecoin payments platform that focuses on cross-border payment capabilities. Ripple also acquired Palisade, a digital asset wallet and custody technology provider.

At this time, there are no confirmed discussions between Ripple and PayPal, and acquisition talks are all just speculation at this point.

In terms of price action, Solana may be demonstrating a downside trend, but its ecosystem is signaling growing dominance in the Web3 sector. After seeing notable network performance, the blockchain now controls a significant portion of the total decentralized application (dApp) revenue.

A Large Web3 dApp Earnings Covered By Solana

With robust network coverage, Solana, one of the leading blockchains in the cryptocurrency sector, is rapidly cementing its position as a dominant force in the Web3 economy. This is a pivotal moment for the network during a weakening price performance, which could play a role in its price outlook.

A recent report from SOL Strategies, a publicly traded company, discloses that Solana is dominating the web3 economy now by capturing a large share of all dApp revenue. As user activity increases and developers continue to expand throughout its ecosystem, it is becoming more evident that the network may produce actual economic value.

Using data from Syndica, a platform focused on building and scaling blockchain systems, the network currently controls over 41% of all web3 dApp revenue. Solana’s growing revenue footprint, which includes both consumer-facing applications and DeFi technologies, indicates more than just an increase in usage.

According to SOL Strategies, the Solana ecosystem is proving it is the place where real value is created across the web3 ecosystem. With its share of dApp earnings increasing, SOL is becoming a key hub in the upcoming stage of blockchain-driven innovation.

Solana’s network growth and dominance go beyond just the Web3 ecosystem. Its Real World Asset (RWA) ecosystem is accelerating at a remarkable pace, with on-chain value hitting historic levels. In an X post, SolanaFloor reported that SOL in this field has risen to a new all-time high of over $1.71 billion in total value.

The spike indicates increased institutional experimentation as well as heightened trust in the network’s infrastructure to sustain high-value, compliant assets. This massive figure represents a more than 45% increase in the last 30 days. The network’s most recent milestone highlights how tokenization is progressing from concept to actual on-chain growth, with capital coming in and acceptance expanding.

Here’s The Next Potential Catalyst For SOL

While price has been moving sideways, Solana could still be setting up for a super cycle, and APAC institutions may be the catalyst for this upswing. CryptoRus shared that Solana Company HSDT has announced the launch of Pacific Backbone, a quick, low-latency infrastructure buildout that links Seoul, Tokyo, Singapore, and Hong Kong. 

This move is aimed at APAC institutions, which pairs Decentralized Finance (DeFi) tooling with liquid staking and Traditional Finance (TradFi) style execution to foster new capital flows in Solana. If this thesis is correct, SOL becomes the standard high-throughput settlement layer for an expanding area of capital markets rather than merely another Layer 1 pump. Furthermore, should institutions move in, the altcoin could gain momentum for a multi-phase run.

Indiana is moving closer to formally embedding crypto into its public financial system after lawmakers approved House Bill 1042, commonly referred to as the Bitcoin Rights Bill. The legislation has cleared both legislative chambers and now awaits the signature of Governor Mike Braun.

Related Reading: Binance Faces US Senate Inquiry Tied To $1.7 Billion In Sanctions-Related Transactions

If enacted, the law would allow certain public investment programs to provide exposure to crypto through regulated ETFs and establish legal protections for individuals who use or hold digital assets. The measure reflects a broader shift among U.S. states as they explore how crypto fits within traditional finance.

Public Funds and Retirement Plans Open to Crypto ETFs

HB 1042 permits state-managed investment funds to include cryptocurrency ETFs as investment options rather than allowing direct token purchases. The approach aims to provide exposure through regulated financial products while maintaining oversight mechanisms.

Under the bill, several state-administered programs must offer self-directed brokerage accounts containing at least one digital asset investment option. These include retirement plans for teachers, public employees, and legislators, as well as the Hoosier START 529 education savings program.

Participation would remain voluntary, meaning individuals could choose whether to allocate funds toward crypto-related investments. Before rollout, the state must establish approved investment structures designed to manage compliance and risk oversight.

The legislation also allows eligible investment funds from outside Indiana to allocate assets into crypto ETFs under the state’s framework, potentially expanding institutional participation beyond state borders.

Legal Protections for Digital Asset Users

Beyond access to investment, the bill introduces protections for cryptocurrency users. Public agencies, with limited exceptions, would be restricted from banning or limiting lawful digital asset activities.

Residents would retain the right to accept crypto payments for legal goods and services and to store assets in self-custodied or hardware wallets. The proposal also prevents the state from imposing special taxes on crypto transactions and requires taxation rules to align with those applied to other financial activities.

Supporters argue that these provisions provide legal clarity for individuals and businesses operating in the digital asset space, while critics continue to highlight concerns about market volatility and retirement risk exposure.

Part of a Broader U.S. Policy Shift

Indiana’s move comes amid growing institutional interest in cryptos, following the expansion of crypto ETFs and evolving federal policy discussions on retirement portfolio diversification. Other states are considering similar measures, signaling a gradual shift toward incorporating digital assets into public finance structures.

HB 1042, introduced by State Representative Kyle Pierce, completed the legislative process after the House approved Senate amendments. If Governor Braun signs the bill, the law is scheduled to take effect on July 1, 2026, triggering implementation by state agencies and retirement administrators.

Related Reading: Netherlands To Amend Controversial 36% Tax On Unrealized Crypto, Stock Gains

As more states evaluate crypto-focused legislation, Indiana’s decision could serve as another trigger to the continued adoption of crypto in other states’ financial systems.

Cover image from ChatGPT, BTCUSD chart on Tradingview

Solana projects Step Finance and its sister platforms have announced they are winding down operations following an exploit last month. This also comes as crypto prices struggle amid the current bear market, with SOL still below the psychological $100 level. 

Solana Projects To Wind Down Following Exploit And Amid Price Struggle

In an X post, Solana DeFi aggregator Step Finance announced that it and its sister projects, SolanaFloor and Remora Markets, will be winding down all operations. This follows the hack towards the end of last month involving the firm’s treasury wallets, which resulted in a loss of around $40 million. 

Related Reading: This Analyst Predicted Solana Sell-Off At $250, And Is Back With A New Prediction

StepFinance stated that following the hack, they explored every possible path forward, including financing and acquisition opportunities. However, the Solana project was unable to secure a viable outcome, which is why it has decided to end all operations effective immediately. The firm also revealed that it is working on a buyback for STEP holders based on a snapshot taken before the incident. 

The STEP token is down over 40% in the past week amid this announcement, currently trading at around 0.00060. The token is down by over 99% from its all-time high (ATH) of $10, set in August 2021. 

Furthermore, Step Finance stated that it is also working on a redemption process for Remora rToken holders, with these tokens still backed 1:1. Remora Markets, a tokenized stock marketplace on SOL, also confirmed that it is winding down operations alongside its parent company, Step Finance. Remora stated that they are currently working on a redemption process to allow holders to redeem their tokens for USDC and that they will share more details soon. 

Media Outlet To Also Wind Down

Solana media platform Solana Floor, a sister company to Step Finance, also confirmed that it is winding down operations. The platform will no longer publish new content, but the existing website, videos, and newsletters will remain available as an archive. Solana wallet Solflare stated that it will pause its News section inside the wallet due to Solana Floor’s sunsetting. 

Related Reading: XRP, Solana Secure Inflows As Institutions Move $1 Billion Out Of Bitcoin And Ethereum

Solflare also revealed that it is considering opening up the space to community-driven articles published directly in the wallet. This will include original long-form articles, fresh insights, analysis, and strong opinions, deep dives into SOL projects/trends, educational crypto explainers, and market analysis. 

Meanwhile, Step Finance co-founder George Harrap indicated that there was still the possibility of an acquisition of any of their projects. He stated that some people have reached out about acquiring various businesses and that they will pursue those if serious and have interest, but warned that they are working on a “time crunch.

At the time of writing, the Solana price is trading at around $89, up 8% in the last 24 hours, according to data from CoinMarketCap.

After weeks stuck below a key psychological level, Ethereum (ETH) surged past $2,000 in a swift rally, pushing prices to $2,158 within a day. The recovery comes after a prolonged period of sideways trading around $1,900 and a broader correction that had pushed ETH more than 60% below its previous peak.

The latest double-digit recovery coincided with a wider cryptocurrency market rebound, with total market capitalization rising by over 4% and Bitcoin also advancing during the same period.

Ethereum ETF Inflows and Institutional Activity Drive Recovery

Renewed institutional demand helped drive Ethereum’s breakout, as spot ETFs recorded fresh inflows after weeks of outflows. Daily investments topped $20 million in some sessions, with total inflows exceeding $125 million on February 25, led largely by Grayscale and Fidelity products.

On-chain data also pointed to accumulation by large holders. Whale wallets added thousands of ETH while others withdrew significant amounts from exchanges, a pattern often interpreted as long-term positioning rather than short-term trading.

The Ethereum Foundation added another layer of support by announcing plans to stake 70,000 ETH from its treasury. The move reflects a shift toward active reserve management while reducing the circulating supply available on the market.

Technically, momentum indicators turned positive as capital flowed back into the asset. Analysts identified resistance zones between $2,080 and $2,150, while support formed around the psychologically important $2,000 level.

Upgrade Roadmap Signals Faster and More Secure Ethereum

Beyond price action, investor attention has also focused on Ethereum’s long-term development roadmap. Co-founder Vitalik Buterin recently outlined proposals to significantly improve transaction speed and security over the next several years.

The plan includes gradually reducing block slot times from 12 seconds to as low as two seconds, allowing faster transaction processing. Developers are also targeting transaction finality between 6 and 16 seconds, a major reduction from the current confirmation timeframe, which can stretch into minutes.

The roadmap spans multiple protocol upgrades expected through the end of the decade and introduces quantum-resistant cryptography designed to prepare the network for future computing risks. Changes will be implemented gradually to limit disruption and maintain network stability.

Options Expiry Could Increase Short-Term Volatility

Despite improving sentiment, derivatives markets may introduce near-term volatility. Around $893 million worth of ETH options are set to expire this week, with a “max pain” level near $2,200. The put-to-call ratio below 1 suggests traders are leaning toward upside exposure, though expiry mechanics can temporarily influence price direction.

Ethereum’s ability to hold above $2,000 remains the key signal for traders. Sustained institutional inflows and progress on network upgrades could determine whether the latest rally develops into a broader trend reversal or remains a short-term recovery within a larger consolidation phase.

Cover image from ChatGPT, ETHUSD chart on Tradingview

New developments in XRP’s active address count suggest that investors may be jumping ship from the leading cryptocurrency. According to on-chain metrics, the number of active addresses on the XRP Ledger (XRPL) has dropped by more than half in one day, marking a new low in 2026. The decline in this metric comes as the cryptocurrency continues to consolidate near the $1.40 region after its price fell by more than 20% over the past month.

XRP Active Address Drop Raises Investor Exit Concerns

Recent data from market analytics platform CryptoQuant paints a worrying picture for XRP, as more than 18,130 active addresses have disappeared from the network. The decline is particularly striking considering that on February 10, active addresses had surged to a yearly high of 32,684. At the time, the altcoin was trading low at $1.399. However, despite the subdued price, network participation continued to climb, signaling increased engagement.

Following this peak, XRP active addresses dropped the next day to 17,275, representing a decline of more than 15,409 addresses. This slump coincided with an almost 3% decrease in the XRP price, which was around $1.36 at the time. In the subsequent days, active address counts fluctuated between 16,000 and 17,000 before experiencing another major drop, eventually settling at 14,551. Notably, this marked the lowest level of active addresses seen throughout this year. 

Importantly, active address measures the number of unique wallet addresses that participated in transactions over a given period. It serves as a key indicator of a network’s activity level and, to some extent, investors’ interest in a cryptocurrency. Typically, a decline in active addresses suggests reduced user participation on the blockchain. It can also signal a more concerning trend of investors exiting a cryptocurrency and diminishing retail interest.

If investors are indeed abandoning XRP, it would come as no great surprise given the cryptocurrency’s recent price performance. CoinMarketCap data shows that year-to-date, the price has fallen by more than 36%. The cryptocurrency has also declined by more than 52% from its 2025 peak above $3, underscoring its continued bearish trend amid ongoing market volatility and eroding investor confidence.

What Analysts Are Saying About The Price

Despite its subdued price action and poor performance this year, analysts remain optimistic about XRP’s outlook. According to market expert Bird, XRP’s corrective phase appears to have ended after the cryptocurrency completed a triangle pattern, marked by declining price action.

After a recent rebound above the $1.30 range into the $1.40 region, Bird suggests that the market may be on the verge of a confirmed price reversal. He noted that XRP will need additional upward momentum before it can advance toward the next projected target above $1.7 on the price chart.

Ripple has backed AI infrastructure startup t54 in a $5 million seed round, a move that ties the company more closely to the emerging market for autonomous payments and agent-driven financial activity. The investment also puts the XRP Ledger in the frame as one of the networks being positioned for machine-to-machine commerce.

Ripple And The XRP Ledger Enter The Agentic Payments Race

t54 announced on February 25 that its seed round was led by Anagram, PL Capital, and Franklin Templeton, with strategic participation from Ripple, alongside Virtuals Ventures, Blockchain Coinvestors, and ABCDE. The company describes itself as a “trust layer for the agentic economy,” focused on a problem that is starting to attract more attention as AI systems move from recommendation to execution: how to verify an agent’s identity, evaluate its risk, and assign accountability when something goes wrong.

That framing was echoed by Ripple President Monica Long, who wrote on X that “as autonomous agents begin managing and transacting with real capital, trust infrastructure becomes a foundational piece of the equation.” She added that Ripple was “proud to be at the forefront of AI innovation,” calling out t54 as a team “building the trust layer for the agentic economy.”

The company’s pitch is that existing financial rails were built around humans, not software agents acting on delegated authority. In the press release, founder Chandler Fang laid that out directly:

“We are building trust infrastructure for the agentic economy. Financial systems were designed around human identity and human decision-making. As agents become autonomous participants, we need agent-native financial primitives—verifiable agent identity (KYA), real-time risk assessment, and programmable accountability—built for how agents operate.”

That thesis is not just about identity in the abstract. t54 says its platform is built across four pillars: identity and verification, risk and fraud, credit, and a broader operating platform that combines controls with settlement. The idea is to give institutions a way to bind agents to verified developers or human operators, monitor their behavior in real time, and decide when they should be allowed to transact, borrow, or execute payment flows.

The company is also making a direct bet on crypto rails as part of that stack. Among the products it listed is an “XRPL x402 Facilitator,” described as infrastructure that lets AI agents pay for services using XRP and RLUSD. It also highlighted an open-source secure layer on x402 and said its ecosystem spans XRPL, Solana, Base, and Virtuals, suggesting it is not building for a single chain, even if Ripple’s involvement gives XRPL special relevance.

That matters because Ripple’s interest here goes beyond venture exposure. Markus Infanger, SVP at RippleX, framed the opportunity as a shift in the nature of economic actors themselves:

“Autonomous systems are becoming participants in economic activity, not just tools. The financial infrastructure that supports them must evolve accordingly. We support t54’s efforts to build the identity and risk capabilities that will be foundational as AI agents operate across payments, treasury, and capital markets.”

Tony Pecore, Franklin Templeton SVP and director of digital asset management, said:

“As institutions embrace tokenization and autonomous systems, the infrastructure layer must evolve to match. t54 is building the trust and verification framework that institutional finance will require as AI agents become participants in financial markets.”

t54 also backed its market argument with survey data. It cited a recent YouGov study showing 42% of US consumers would allow an AI agent to make purchases on their behalf if it secured the lowest price.

At the same time, research from Keyfactor found 86% of cybersecurity professionals believe autonomous systems and AI agents should have unique, dynamic digital identities. Together, those figures capture the tension t54 is trying to monetize: growing willingness to delegate financial actions to software, but only with tighter controls.

For Ripple and XRPL, the bet is clear. If autonomous agents do become active users of payment rails, then Ripple wants XRP Ledger infrastructure to be part of that next layer.

At press time, XRP traded at $1.4397.