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SEC Chair Paul Atkins is facing pressure from Democratic lawmakers over the agency’s evolving approach to crypto regulation, particularly its decision to pause the 2023 lawsuit against Tron founder Justin Sun.

During a House Financial Services Committee hearing, Representative Maxine Waters questioned why the SEC requested a stay in the case earlier this year. The original lawsuit accused Sun of orchestrating unregistered securities sales tied to TRX and BTT and manipulating trading volumes. Since the pause, Sun has become a major backer of Trump linked crypto ventures, reportedly purchasing billions in WLFI tokens tied to World Liberty Financial. Waters also cited recent public allegations from Sun’s former partner claiming she holds evidence of token manipulation.

Atkins declined to comment on the specifics of the case, stating he cannot discuss individual enforcement matters publicly but would be open to confidential discussions where permitted. When pressed about potential conflicts involving Trump affiliated businesses, he said he could not speak to the Trump family’s activities.

Lawmakers also raised concerns about the SEC dropping several high profile cases in 2025, including actions against Binance, Ripple, Coinbase, Kraken, and Robinhood. The Binance case drew particular scrutiny after Trump pardoned former CEO Changpeng Zhao and a stablecoin linked to World Liberty Financial was reportedly used in a 2 billion dollar investment in the exchange.

Representative Stephen Lynch criticized the agency’s recent direction, pointing to reputational damage and asking for clarity on enforcement decisions. Atkins responded that the SEC continues to maintain a strong enforcement program.

However, data from Cornerstone Research shows total SEC enforcement actions fell 30 percent in 2025, while crypto related cases declined by 60 percent. Atkins, who became chair in April 2025 following Gary Gensler’s departure, has consistently signaled a move away from the prior administration’s litigation heavy strategy toward what he describes as a more balanced regulatory framework.

Binance has completed the full conversion of its 1 billion dollar Secure Asset Fund for Users into Bitcoin, confirming the purchase of a final 4,545 BTC and bringing the total reserve to 15,000 BTC. With Bitcoin trading around 67,000 dollars, the fund is now valued at just over 1 billion dollars.

The exchange executed the transition through multiple transactions between February 2 and February 12, finishing the process well within the 30 day window it outlined on January 30. The dedicated SAFU wallet address, which Binance has made public, now reflects the updated Bitcoin balance.

SAFU was originally established in 2018 as an emergency insurance pool designed to compensate users in extreme scenarios such as security breaches. In April 2024, Binance converted the reserve entirely into USDC, citing stability concerns at the time. The latest move represents a complete reversal of that strategy, signaling renewed confidence in Bitcoin as a long term reserve asset rather than relying on dollar pegged stablecoins.

Binance stated that it views Bitcoin as the leading long term store of value within the crypto market and said it will rebalance the fund if its value falls below 800 million dollars due to price volatility. The decision effectively ties user protection funds directly to Bitcoin’s market performance.

The shift also arrives as Binance maintains a dominant position in global crypto trading. According to recent data, the exchange accounts for roughly 41 percent of spot trading volume among the top ten platforms in 2025, alongside a significant share of Bitcoin perpetual futures activity and stablecoin reserves.

Meanwhile, Bitcoin is trading near 67,300 dollars, posting modest daily gains but remaining under pressure on longer time frames. The asset is down nearly 5 percent over the past week, around 24 percent over two weeks, and close to 30 percent over the past month. It also remains more than 46 percent below its October 2025 all time high above 126,000 dollars, highlighting the broader market correction even as Binance deepens its exposure to BTC through its insurance reserve.

Ethereum has faced sustained volatility since October, with selling pressure intensifying over the past month as the asset struggles to reclaim the 2,000 dollar level. While many investors have grown frustrated with the prolonged weakness, Fundstrat Head of Research Tom Lee believes the current downturn fits a familiar historical pattern and could signal that a bottom is approaching.

Speaking at a conference in Hong Kong, Lee highlighted that since 2018 Ethereum has experienced at least eight major drawdowns of more than 50 percent. One of the most notable was a 64 percent decline between January and March last year. According to Lee, every one of those deep corrections ultimately formed a V shaped bottom, with ETH recovering at roughly the same speed as it fell. In his view, this repeated structure suggests the present decline does not represent a breakdown in Ethereum’s long term trajectory.

Lee also cited technical analysis from veteran market strategist Tom DeMark, who believes Ethereum may need to revisit the 1,890 dollar area to form what he calls a perfected bottom. Lee noted that current price action closely mirrors previous major turning points, including late 2018, late 2022, and April 2025. These historical parallels reinforce his view that ETH may be in the final stages of its correction phase.

Rather than attempting to pinpoint the exact low, Lee stressed that the magnitude of the drawdown is what matters most. Sharp declines of this scale have historically presented opportunity rather than signaling structural failure. From his perspective, long term investors should be thinking about positioning for recovery instead of reacting emotionally to short term weakness.

The ongoing sell off has already forced significant portfolio shifts across the market. Trend Research, led by Liquid Capital founder Jack Yi, recently exited what had been Asia’s largest leveraged Ethereum position. The firm had built approximately 2.1 billion dollars in ETH exposure but ultimately closed the trade at a realized loss of about 869 million dollars. Notably, Yi had reiterated his bullish long term outlook only days before the final unwind.

Despite high profile capitulations and Ethereum’s difficulty reclaiming key psychological levels, Lee maintains that the asset’s historical behavior points toward another sharp rebound once selling pressure exhausts itself.

Binance, the world’s largest cryptocurrency exchange, has pushed back against circulating rumors suggesting the platform faced unprecedented withdrawals in recent days. Social media posts claimed that between 10 and 17 billion dollars had exited the exchange, warning users of potential insolvency and urging immediate withdrawals. Some widely followed analysts on X amplified these claims, causing concern across the crypto community.

The exchange responded swiftly, stating that the numbers cited came from third-party sources and contained discrepancies. Binance highlighted that platforms such as Coinglass and DefiLlama had reported inconsistent data, which will take 24 to 48 hours to fully correct. They emphasized that users should not panic based on inaccurate reports and reassured the public that their systems remain healthy.

Binance also explained that routine withdrawal tests on all trading platforms are standard and healthy procedures. They advised users to carefully verify wallet addresses before transferring funds and even proposed creating an annual “withdrawal day” for all exchanges to confirm the authenticity of their holdings.

Supporting its stance, Binance pointed to the latest Proof-of-Reserves report on its official website, showing that all cryptocurrencies held by the platform are overcollateralized. This means the USD backing exceeds the total crypto reserves, signaling financial stability and robust liquidity. Binance insisted that despite the recent social media panic, the exchange remains fully operational and well-capitalized, urging the community to focus on verified data rather than rumors.

Uniswap’s UNI token spiked roughly 40 percent in just 30 minutes after Uniswap Labs announced that BlackRock’s tokenized money market fund, BUIDL, is now available for trading via UniswapX. The integration connects one of the world’s largest asset managers with a decentralized exchange, drawing attention from both traders and institutional observers.

Uniswap Labs partnered with Securitize to make BlackRock’s USD Institutional Digital Liquidity Fund accessible on its request-for-quote platform, allowing investors to swap BUIDL with approved counterparties at any time using smart contract settlement. Uniswap CEO Hayden Adams said the move aims to make markets faster and cheaper, while Securitize CEO Carlos Domingo highlighted that it brings traditional finance standards to blockchain trading. BlackRock’s head of digital assets, Robert Mitchnick, described the launch as a significant step for tokenized funds in DeFi. The firm also confirmed an investment within the Uniswap ecosystem, though details were not disclosed.

Following the announcement, UNI jumped to 4.57 dollars before settling near 3.40 dollars, still up about 5 percent over 24 hours. Despite this short-term gain, the token remains down roughly 9 percent over the week and over 35 percent in the past month, showing the spike came amid a broader decline.

The BUIDL integration reflects a growing trend of major financial institutions bringing tokenized assets to public blockchains. Earlier this year, 35 firms, including BlackRock, JPMorgan, and Fidelity, launched Ethereum-based products such as tokenized stocks, funds, stablecoins, and deposit tokens. Securitize, which manages over 4 billion dollars in assets, has worked with Apollo, KKR, and BNY to enable compliant tokenized fund trading. UNI’s recent volatility underscores how closely markets follow institutional moves in decentralized finance.

Market volatility remains elevated as MYX Finance plunges nearly 40 percent in the past 24 hours, making it the weakest performer today. The token has fallen to below 3.30 dollars, standing out sharply against a relatively stable broader market.

Bitcoin continues to struggle for direction. After being rejected at 90,000 dollars on January 28, bearish pressure pushed BTC down to 60,000 dollars last week, marking its lowest level in over a year. A swift rebound followed, sending the asset to 72,000 dollars, but bulls failed to maintain momentum. Bitcoin slipped below 66,000 dollars again yesterday, briefly bounced, and now trades around 67,000 dollars, down roughly 5 percent on the week. Its market capitalization sits near 1.34 trillion dollars, while dominance has eased to 56.6 percent.

Among large cap altcoins, performance is mixed. Ethereum remains under the key 2,000 dollar level, and XRP is trading below 1.40 dollars. BNB is holding above 600 dollars, showing relative strength. HYPE and HBAR are among the stronger performers in this group, each posting gains of around 5 percent.

Outside the majors, PIPPIN continues to rally, rising about 11 percent on the day and nearly 190 percent over the past week, approaching the 0.50 dollar mark. ASTER and VET have also recorded gains.

Despite isolated rallies, the overall crypto market remains subdued. Total market capitalization is still below 2.4 trillion dollars, recovering only slightly from the previous session as traders remain cautious amid ongoing uncertainty.

Short term Bitcoin holders are facing mounting losses as BTC falls back below 70,000 dollars. According to CryptoQuant analyst Darkfost, the short term holder cost basis sits near 94,200 dollars. With Bitcoin trading around 67,000 dollars, this places the average unrealized loss at roughly 28 percent.

The analyst noted that Bitcoin has remained below the short term holder cost basis for four consecutive months, marking the longest period of stress in this cycle. This unusual duration suggests the current downturn may be evolving from a simple correction into a broader bear market. In previous cycles, similar conditions persisted for more than a year.

CryptoQuant also pointed to a lack of new capital entering the market. Analysts said recent selling pressure is not being offset by fresh inflows, a pattern more typical of early stage bear markets. In bullish phases, price pullbacks tend to attract new buyers, whereas in weaker environments investors step back.

Technical analysts are watching key retracement levels. After briefly holding the 0.382 Fibonacci level, Bitcoin broke below it. The next major support based on the 0.618 retracement sits near 57,800 dollars and could become the next downside target if weakness continues.

Some analysts remain cautiously optimistic. Bitfinex researchers observed that long term holder supply has started rising again after months of distribution, climbing back to around 14.3 million BTC. In past cycles, increases in long term holder supply have preceded price recoveries by several months, suggesting the possibility of a mid cycle reset rather than a definitive market top.

Bitcoin recently dipped close to 66,000 dollars before stabilizing near 67,000 dollars, though momentum remains fragile. Ether has also struggled, falling below the 2,000 dollar psychological level and trading near 1,950 dollars, close to its March 2025 lows.

XRP is currently trading at 1.37 dollars, reflecting a decline of nearly 15 percent over the past week and about 33 percent over the last month. Despite ongoing bearish pressure, a prominent analyst believes the long term chart structure points to a potential turning point.

According to analyst Arthur, the monthly timeframe reveals an ascending channel that has been respected for nine years. The lower boundary of this channel lies between 0.85 and 0.95 dollars, roughly 30 percent below the current price. He suggests this zone could serve as an attractive entry area for institutional investors who have not yet reentered the market.

Arthur emphasized that his outlook is based on long term structural analysis supported by macro trends and historical volume patterns. He noted that the largest surge in XRP trading volume occurred between November 2020 and April 2021. In comparison, the 2024 rally above 2 dollars was accompanied by significantly lower volume, indicating that major institutional capital may still be absent.

Derivatives data also reflects cooling speculation. Over the past month, XRP futures open interest has declined sharply across major exchanges, suggesting traders are unwinding leveraged positions rather than adding new exposure. Such behavior is often seen during transitional phases before a new trend develops.

Beyond technical analysis, Arthur pointed to broader macro developments that could support XRP. These include regulatory clarity following the resolution of Ripple’s legal battle with the United States Securities and Exchange Commission, the rollout and expansion of RLUSD, and increased institutional adoption of Ripple’s technology. He also highlighted growing interest in tokenization and the development of institutional grade infrastructure.

Historically, XRP has staged strong recoveries after prolonged downturns. The asset traded near 0.30 dollars during the 2018 bear market before rallying to 1.70 dollars in 2021. It later consolidated around 0.35 dollars in 2022 before surging above 2 dollars in late 2024 and reaching a record high of 3.65 dollars in July 2025.

While short term momentum remains weak, the analyst argues that long term structural and macro factors could set the stage for a significant breakout if key support levels hold.

Tensions between major banks and crypto firms remain unresolved after another round of talks at the White House failed to produce an agreement ahead of the March 1 deadline. The core issue is whether crypto companies should be allowed to offer yield on dollar pegged stablecoins without pulling deposits away from traditional banks.

According to reports from participants, the meeting was described as constructive, but no final compromise was reached. Banking representatives presented a formal set of principles arguing that payment stablecoins, as defined under proposed legislation, should function strictly as payment tools rather than interest bearing products. They called for a broad prohibition on any financial or non financial incentives tied to holding or using such tokens.

The banking proposal included limited exemptions, penalties for violations, and strict restrictions on marketing stablecoins as deposit like or federally insured products. One shift in tone was the willingness to consider potential exemptions, marking a change from earlier resistance to any carve outs.

Crypto firms, however, are advocating for more flexible definitions that would allow platforms to provide certain user rewards. The disagreement highlights a broader legislative battle over digital asset regulation.

The meeting was led by the executive director of the President’s Crypto Council and included representatives from Coinbase, Ripple, a16z, Paxos, and major banking institutions such as JPMorgan, Goldman Sachs, Bank of America, Citi, Wells Fargo, PNC, and U.S. Bank, along with industry trade groups.

While some participants expressed cautious optimism, the issue remains unsettled, and further discussions are expected.

The debate comes as lawmakers work on broader crypto market legislation. Banks warn that yield offering stablecoins could shift substantial funds out of checking and savings accounts, reducing lending capacity. Some analysts estimate that stablecoins could draw hundreds of billions of dollars in deposits from banks in developed economies over the next several years.

Trend Research, the trading firm founded by Liquid Capital’s Jack Yi, has exited all of its Ethereum positions, ending what had been the largest ETH long position in Asia. On chain data from Arkham shows the firm once held about 2.1 billion dollars in leveraged Ethereum longs, built by borrowing stablecoins against ETH collateral.

The final position was closed on Sunday, resulting in an estimated realized loss of around 869 million dollars. The exit followed several days of position reductions as Ether’s price fell toward 1,750 dollars, increasing pressure on leveraged traders across the market.

Just days before the complete exit, Yi had reaffirmed his bullish stance publicly, stating that Trend Research remained optimistic about the next major bull cycle. He projected that Ethereum could rise above 10,000 dollars and Bitcoin beyond 200,000 dollars. At the time, he described the firm’s actions as partial risk adjustments while maintaining confidence in the long term outlook for the crypto industry.

Yi also pointed to weak liquidity and alleged platform related manipulation but argued that current valuations could represent attractive long term entry points, even though extreme volatility often forces bullish traders out before recoveries take place.

Despite the high profile liquidation, on chain metrics show a different trend among certain holders. According to CryptoQuant, wallets classified as accumulating addresses currently hold around 27 million ETH, roughly 23 percent of the circulating supply. These addresses have no history of selling, maintain balances of at least 100 ETH, and are not linked to exchanges, miners, or smart contracts.

Data also indicates that Ethereum has traded below the realized price of these accumulating wallets only twice in its history, once during the 2025 market bottom and again since January 2026. This suggests that long term holders have continued adding to their positions despite recent price weakness and the unwinding of leveraged trades.