Paul Atkins and Hester Peirce spoke at ETHDenver on Wednesday on the future of regulation at the SEC and its response to crypto market volatility. Paul Atkins, chair of the US Securities and Exchange Commission (SEC), and the agency’s crypto task force head, Hester Peirce, said Wednesday they would support efforts to clarify how “tokenized securities interact with existing regulation,” better positioning industry developers. Speaking to attendees at the ETHDenver conference on the future of regulation, Atkins and Peirce addressed concerns about volatility in many cryptocurrency prices and how the agency plans to move forward with digital asset regulation amid a potential market structure bill in Congress. In response to “falling crypto prices of late,” likely referring to the price of Bitcoin (BTC) and Ether (ETH) falling by more than 28% and 40%, respectively, in the previous 30 days, Atkins said: Read more
A transaction-level analysis of 92 community banks found $78.3 million in net deposits moved to Coinbase over 13 months, with money market accounts losing most outflows. New analysis from banking data company KlariVis found that 90% of community banks in its sample had customers transacting with Coinbase. Across 53 banks where transaction direction could be determined, $2.77 flowed to the crypto exchange for every $1.00 returning, resulting in a net $78.3 million deposit shift over 13 months. The study reviewed 225,577 Coinbase-related transactions across 92 community banks and found that transfers were heavily concentrated in money market accounts, where 96.3% of identifiable transaction volume represented funds leaving banks for the exchange. "In general, community banks can be defined as those owned by organizations with less than $10 billion in assets," the Federal Reserve says on its website. Read more
The Bollinger Bands indicator has narrowed to its tightest level on record, a rare technical setup that analysts say is a sign of a pending directional move. A key volatility indicator for Bitcoin (BTC) has narrowed to its tightest measurement on record, a pattern that was followed by a multimonth rally in previous bull and bear markets. Will the Bollinger Bands indicator call the market bottom again? Analyzing the monthly Bitcoin chart, crypto analyst Dorkchicken noted that BTC’s Bollinger Bands are currently at their “tightest” level on record. Such conditions have repeatedly led to bullish breakouts, with the only prior downtrend from similar conditions occurring in 2022, during the drop to $16,000 from $20,000. Bollinger Bands measure price volatility, and extreme compression often leads to a sharp expansion. The analyst added that there are higher odds of an upside trend once expansion begins. Read more
The ETF invests exclusively in short-term US Treasurys and is structured for potential use by stablecoin issuers under US reserve requirements. US-based exchange-traded funds issuer ProShares has launched a money market ETF designed to qualify as an eligible reserve asset under the GENIUS Act, positioning it for potential use by stablecoin issuers. The ProShares GENIUS Money Market ETF, trading under the ticker IQMM, invests exclusively in short-term US Treasurys. Unlike conventional government money market funds, it uses a floating net asset value (NAV) based on market pricing and trades intraday on an exchange. According to an announcement on Wednesday, the structure includes same-day settlement and dual NAV features designed for institutional reserve management. Read more
Trump administration officials held a similar event last week to discuss stablecoin yield within a market structure bill under consideration in Congress. Update (Feb. 19 at 7:21 pm UTC): This article has been updated to include a statement from the Crypto Council for Innovation. The White House has held another meeting between representatives from the cryptocurrency and banking industries on a market structure bill under consideration in the US Senate, seeking to iron-out differences on stablecoin yield provisions, among other issues. In a Thursday Fox News interview, Ripple CEO Brad Garlinghouse said that the company’s chief legal officer, Stuart Alderoty, attended the meeting with White House officials earlier in the day. The CEO’s comments came after unconfirmed reports that the Trump administration would follow its Feb. 10 meeting on the CLARITY Act, a bill to establish digital asset market structure. That meeting did not result in a deal on stablecoins. Read more
Heavy outflows haven’t erased the success of spot Bitcoin ETFs, which still hold $53 billion in cumulative inflows, according to Bloomberg analyst Eric Balchunas. US spot Bitcoin exchange-traded funds (ETFs) may be seeing heavy outflows lately, but the broader picture tells a different story. According to Bloomberg ETF analyst Eric Balchunas, cumulative net inflows into Bitcoin (BTC) ETFs peaked at $63 billion in October and now stand at about $53 billion, even after months of redemptions. “That’s NET NET +$53b in only two years,” Balchunas wrote on X, sharing data compiled by fellow analyst James Seyffart. Read more
Bitcoin trades in a tight demand zone that formed in 2024, but previous bear market data suggests the channel will break and lead to new lows. Bitcoin’s (BTC) market structure shifted into a corrective phase after losing a key onchain valuation level in late January. Glassnode data shows that BTC's price is compressing within a 2024-era demand zone as liquidity conditions soften. At the same time, BTC's supply is steadily shifting into long-term, retail-linked wallets while exchange activity has cooled. This mix of technical and onchain data, along with the current capital rotation, may shape the next steps for Bitcoin price. Read more