Core Insights - Coinbase customers are facing significant losses due to the decline in Bitcoin and Ethereum prices, with $170 million lost in collateral through liquidations on the DeFi platform Morpho [1][2] - The company's crypto-backed lending product, initially marketed as a wealth growth tool, has seen a surge in loan defaults as Bitcoin and Ethereum prices dropped by 17% and 26% respectively over the past week [2][3] - The total amount of loans originated by Coinbase's crypto-backed lending product since its launch is $1.8 billion [3] User Impact - Approximately 2,000 users lost $90.7 million in collateral on a single day as their loans reached unhealthy levels, leading to liquidation [1][2] - Around 3,300 users have not taken action to prevent liquidation, resulting in the permanent loss of their Bitcoin and Ethereum [3] - If collateral values were to decrease by another 50%, potential losses for Coinbase users could reach $600 million [4] Loan Management - Coinbase claims to notify users frequently about the risk of liquidation, with alerts sent as often as every 30 minutes [4] - The company emphasizes that crypto-backed loans are faster, cheaper, and more efficient compared to traditional loans, while also offering better rates [4] - All loans on Morpho are over-collateralized by default, and the exchange is exploring additional protective measures for users [5] Revenue Model - Coinbase does not earn fees from liquidations but generates revenue as a technology provider by taking a share of performance fees earned by risk managers [6]

Core Insights - Bitcoin briefly dropped to $60,000 before recovering, with analysts noting traders are hesitant to engage in the market due to breaking support levels and increasing liquidations [1] Company Insights - Strategy CEO Phong Le stated that the company's balance sheet remains secure unless Bitcoin falls to $8,000 and stays there for approximately five years, which would align their Bitcoin reserves with net debt, necessitating restructuring or new financing options [3][6] - Strategy reported a net loss of $12.6 billion in Q4, primarily due to unrealized Bitcoin losses under mark-to-market accounting [6] - CFO Andrew Kang emphasized that the company continues to pursue its long-term Bitcoin treasury strategy despite short-term price volatility [6] - Executive Chairman Michael Saylor reassured investors about the company's resilience against extreme Bitcoin drawdowns and highlighted the importance of focusing on positive fundamentals, such as an improving regulatory environment [6] Industry Insights - Charles Hoskinson, founder of Cardano, reported a personal loss of over $3 billion in unrealized crypto value but indicated no intention to liquidate his holdings [4][6] - Hoskinson expressed concerns about worsening market conditions while encouraging builders and investors to remain persistent [6] - The crypto market experienced significant sell-offs, with Cardano's ADA dropping over 11% and currently sitting about 92% below its 2021 peak [6]

Bitcoin’s 50% plunge from its October peak has done more than just erase $2 trillion in market value — it has reignited a fierce debate over the fiduciary math of the American retirement system. As investors scramble to parse the drivers of the latest crash, industry observers are asking if volatile digital assets have any business being in a $12.5 trillion 401(k) market designed for stability. “If investors want to speculate on crypto, they are welcome to do so on their own. 401ks exist to help people ...

Volatility is expected in crypto, but these wild swings have not been seen since late 2022, when the FTX empire of notorious crypto conman Sam Bankman-Fried blew up. On Thursday evening, Bitcoin briefly dipped below $60,000, which represented a roughly 52% drop since its all-time high of $126,000 in October. By early afternoon on Friday, though, the original cryptocurrency surged up about 17% to its current price of roughly $70,000, according to Binance. The 24-hour rollercoaster ride for Bitcoin mirror ...

Many altcoins, defined as any cryptocurrency besides Bitcoin (CRYPTO: BTC), fizzled out over the past year as high Treasury yields, unclear monetary policies, and other messy macro headwinds drove investors toward more conservative investments. However, investors who can stomach some near-term volatility might find a few good buying opportunities before the crypto market warms up again. Two of those promising altcoins are XRP (CRYPTO: XRP) and Solana (CRYPTO: SOL). Let's see why these two smaller tokens c ...

Core Viewpoint - UBS has declared that "crypto is not an asset," indicating a bearish stance on digital assets as Bitcoin whales and ETF investors withdraw capital from the market [1][2]. Group 1: UBS's Position on Crypto - UBS's statement that crypto is held by a "tiny portion of society" reflects a significant shift in sentiment, especially after previously opening crypto access for private clients [2]. - The mixed messaging from UBS is concerning as institutional approval typically stabilizes the market, but the current trend suggests instability [2]. Group 2: Market Sentiment and Activity - Jefferies analyst Andrew Moss has noted a resurgence of "crypto winter" discussions, with Bitcoin's price dropping from a peak of $125K to current levels, indicating that large investors are selling rather than buying [2][4]. - Bitcoin whales, who hold substantial amounts of BTC, have become net sellers, actively offloading their assets during this downturn, which suggests a lack of bullish indicators for a market recovery [4]. - Traditional finance investors are also exiting the market, with significant outflows from spot Bitcoin ETFs, indicating that the influx of "tourism" money is rapidly diminishing [5]. Group 3: Market Conditions - The market is currently experiencing "peak fear," with significant declines in the value of companies associated with Bitcoin, such as Michael Saylor's firm, which has seen a 75% drop in stock value from its peak [6].

Group 1 - BlackRock's Bitcoin ETF (IBIT) achieved over $10 billion in trading volume during a market crash, primarily driven by selling activity as Bitcoin's price dropped 20% in a week [1] - Over $434 million exited various US-based crypto funds, with BlackRock's fund accounting for approximately 40% of the outflows, followed by Fidelity's Bitcoin fund [2] - Crypto products experienced a record trading volume of $18.5 billion on Thursday, indicating heightened market activity amid the downturn [2] Group 2 - The total cryptocurrency market capitalization of $1.3 trillion has reverted to levels seen before the pro-crypto US President Donald Trump was elected in 2024, with Bitcoin and other cryptocurrencies experiencing significant declines [3] - The recent price drops are attributed to general market anxiety linked to weak US jobs data, rather than the collapse of a centralized exchange or stablecoin issues [4] - Analysts suggest that Bitcoin may stabilize between $60,000 and $70,000, with indications that aggressive selling pressure may have subsided [4]

Core Insights - Ondo is positioning itself for significant growth in 2025, focusing on expanding its core businesses beyond asset issuance to include various services [1][3] - The company is currently a leading issuer in tokenized U.S. Treasuries, with over $2 billion in total value locked (TVL), and holds approximately 60% market share in tokenized stocks and ETFs, with a TVL of around $600 million [6] - Ondo's new platform, Ondo Perps, will allow tokenized stocks and ETFs to be used as collateral for perpetual futures, aiming to attract market makers and enhance liquidity [6] Market Context - Tokenization is still in its early stages, and revenue generation is not the primary focus for Ondo at this time [2] - Retail adoption of tokenized assets is already evident outside the U.S., indicating growing interest in these financial products [4] Future Ambitions - Ondo's long-term goal is to establish an on-chain prime brokerage service, which will integrate various asset classes into a single trading application [5][6] - The company is actively building scalable infrastructure to support this vision, prioritizing the development of "the pipes" before full monetization occurs [6] Strategic Partnerships - Ondo has formed partnerships with major financial institutions such as Mastercard and JPMorgan, enhancing its credibility and reach in the market [6] Market Dynamics - The current phase is described as a "land grab," with various financial entities competing to transition assets onto blockchain platforms [6] - Ondo's tokenized stocks platform has experienced consistent net inflows since its launch, indicating strong market demand [6]

Strategy (Nasdaq: MSTR), formerly MicroStrategy, reported the financial results for the fourth quarter of 2025 on Feb. 5. The world's largest Bitcoin (BTC) treasury company posted a net loss of $12.4 billion, or $42.93 per MSTR common share, during the quarter. As of Feb. 1, the company held 713,502 Bitcoin acquired at a total cost of $76,052 per coin. Related: Saylor's MicroStrategy reports billions in quarterly loss With BTC trading only slightly above $67,000 right now, Strategy's Bitcoin holding is ...

Core Insights - Ondo Finance has surpassed $2 billion in Total Value Locked (TVL) and is focusing on building a comprehensive on-chain prime brokerage by 2026 [1] Company Strategy - The firm is transitioning from simple asset issuance to a more complex financial service model [1] - A significant component of this strategy is the launch of Ondo Perps, which enables users to trade perpetual futures on equities and commodities [1] Product Offering - Ondo Perps allows users to utilize their tokenized spot assets as collateral for trading [1] - The platform aims to bridge the gap between traditional finance (TradFi) and decentralized finance (DeFi) [1] Market Access - Ondo is positioning crypto wallets as a gateway for global investors to access, hedge, and leverage over 200 tokenized stocks and ETFs around the clock [1]