Day: February 27, 2026

US DOJ Seized $580M in Crypto from ‘Chinese Transnational Criminals‘

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The seizures and freezing over three months were conducted by the District of Columbia’s Scam Center Strike Force, established by US Attorney Jeanine Pirro in November. Officials with the US Department of Justice reported “freezing, seizing, and forfeiting” more than $578 million worth of digital assets tied to criminal groups as part of a task force’s efforts targeting “Southeast Asian cryptocurrency-related fraud and scams.” In a Thursday notice, the Justice Department said the frozen and seized crypto had been “stolen by Chinese transnational criminal organizations” using websites and social media…

Magic Eden to shut down Bitcoin and EVM marketplaces, pivot to Solana and iGaming

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Magic Eden is shutting down its Bitcoin and Ethereum Virtual Machine marketplaces and discontinuing its multi chain wallet, marking a major strategic pivot away from its once dominant Ordinals business. Blockspace first reported that the company plans to wind down its EVM marketplace and Bitcoin Runes and Ordinals marketplace on March 9, followed by the Bitcoin API on March 27. The Magic Eden wallet will enter export only mode before being fully discontinued on April 1. The company will continue supporting Solana assets. The move marks a sharp shift for…

Analysts Reject Jane Street Bitcoin Manipulation, Bitcoin ETF Demand Rises

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This week, rumors of a “10 a.m. Bitcoin dump” blamed on quantitative trading company Jane Street gained traction online after it was sued by Terraform Labs’ court-appointed administrator, but market watchers said the data does not support a consistent, company-driven selloff. The accusations mounted a day after Jane Street was sued by Terraform Labs’ administrator amid allegations of insider trading that worsened the collapse of Terra’s algorithmic stablecoin ecosystem in May 2022. Elsewhere in the market, demand for spot Bitcoin exchange-traded funds returned after five consecutive weeks of net negative…

Morgan Stanley applies to establish US national trust bank for digital asset business

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Morgan Stanley has applied to the Office of the Comptroller of the Currency (OCC) to establish a dedicated digital asset trust bank. According to a filing published on February 27, the proposed entity, Morgan Stanley Digital Trust, National Association (MSDTNA), would operate as a nationally chartered trust bank focused on custody services for crypto assets. The trust bank, which would be wholly owned by Morgan Stanley Capital Management, plans to hold digital assets on behalf of clients and conduct related activities, such as buying, selling, swapping, and transferring tokens to…

Bitcoin Rally Stalls Near $70K: Will Altcoins Keep Going?

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Key points: Bitcoin continues to face selling on minor rallies, indicating a negative sentiment. Several altcoins have turned down from the overhead resistance levels, indicating the bears are active at higher levels. Bitcoin (BTC) continues to face selling on rallies, with bears attempting to sink the price below $66,000. However, some analysts believe the downside may be limited.  Analyst Willy Woo said in a post on X that the selling may have exhausted and BTC is likely to enter a period of consolidation. He expects the rebound to be rejected…

Minnesota to Weigh Ban on Crypto Kiosks after Scam Reports

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A Minnesota lawmaker has introduced a bill that could ban virtual currency kiosks across the state after reports of incidents involving crypto-related scams. In a Thursday session of the Minnesota House of Representatives Commerce Finance and Policy Committee, Representative Erin Koegel said the bill, House File 3642, would address the “novel” and “minimally regulated” technology of crypto kiosks. Koegel said she had heard from state law enforcement agencies that many scammers used the kiosks to trick residents into sending crypto, while legitimate traders tended to use centralized exchanges. “Because of…

Why Yen Stablecoins Are Key to Japan’s Crypto Ambitions

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Japan is preparing its financial system for a world of stablecoins and tokenized assets, with banks, regulators and financial conglomerates working to bring the yen economy onchain. The country is the world’s fourth-largest economy, and its yen is one of the most important currencies in global finance. According to the International Monetary Fund, the yen accounted for 5.82% of global foreign exchange reserves, ranking third worldwide. A major reason for the yen’s systemic importance is the carry trade. Due to low interest rates, investors borrow cheap yen, convert it into…

Revenue Beats, Earnings Per Share Miss, Stock Falls

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Shares of Figure Technology Solutions, a blockchain-based consumer lending marketplace, plunged on Friday after the company reported mixed fourth-quarter results the prior day, signaling a more difficult operating environment even as revenue continued to climb. For the quarter ended Dec. 31, the company posted revenue of $159.9 million, up from $83.9 million a year earlier, and net income of $15.1 million, compared with $5.9 million in the same period of 2024. Earnings were $0.06 per diluted share, compared to zero a year earlier. Analysts polled by Yahoo Finance expected earnings…

Ethereum Foundation launches Project Odin to support public goods teams

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The Ethereum Foundation today unveiled Project Odin, a 12-month initiative designed to help public goods teams achieve lasting financial stability. The program targets infrastructure builders working on open-source tools, node software, and security protocols that underpin the broader network but lack commercial revenue models. The Foundation for Verified Software, which maintains the Vyper programming language, will serve as the pilot participant. Vyper currently secures more than $2.3B in total value locked across roughly 8,000 deployed contracts. Project Odin unfolds in three stages: mapping available funding sources, validating potential business approaches…

PayPal taps MoonPay and M0 to launch PYUSDx stablecoin issuance framework

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PayPal, MoonPay and M0 are launching PYUSDx, a platform that lets developers issue branded tokens backed by PayPal USD. The product is designed to allow app developers to launch their own dollar pegged tokens without building reserve and compliance infrastructure from scratch. The rollout is scheduled for next month. “The next phase of stablecoin adoption is happening at the application layer,” said May Zabaneh, PayPal’s head of crypto. PYUSDx merges M0’s token issuance technology with MoonPay’s operational tools, allowing launches in days rather than months. The framework supports deployment across…