Bank of England taps Chainlink for DLT pilot

Major institutional adoption signals emerge as traditional finance embraces blockchain infrastructure, while legal battles and market uncertainty continue to weigh on sentiment.

WELC Greed Factor 😨


Score	32/100 — Fear
Gauge	██████░░░░░░░░░░░░░░
24h BTC Outlook	BTC likely to test support levels near $68-69K over the next 24 hours as weak macro data (jobs report) and broad risk-off sentiment persist, with potential for further downside if capitulation signals don't materialize.

Dominant bearish signals include $250M+ liquidations, sentiment at 2022 lows, Mayer Multiple at bear market levels, major exchange issues (Kraken CFO firing, Gemini exit), regulatory headwinds, and analyst warnings of incomplete capitulation—partially offset by modest ETF inflows and some institutional demand signals.

Regulation

SafeMoon Founder Sentenced to Prison

SafeMoon CEO Braden Karony received a 100-month prison sentence for crypto fraud involving token manipulation and misuse of investor funds. The case highlights continued enforcement against DeFi project leaders.

EU Proposes Russia Crypto Crackdown

The European Union outlined aggressive measures to prevent crypto transactions with Russia as part of sanctions evasion prevention. The proposal could significantly disrupt global digital asset markets and international trade.

Blockchain.com Wins UK Registration

The crypto exchange secured FCA approval to offer regulated crypto services in the UK after a four-year process. The registration follows the company's European MiCA license approval.

CFTC Enforcement Team Eliminated

The CFTC's flagship Chicago enforcement office now has zero enforcement attorneys amid the agency's embrace of crypto and prediction markets, according to reports.

Markets

Bitcoin Struggles Near $69K

Bitcoin held around $68,703 with analysts warning of extended downside potential. Sentiment remains at 2022 lows with technical indicators suggesting incomplete capitulation.

Ethereum Sees Major Exchange Outflows

Over 220,000 ETH exited exchanges in the strongest withdrawal wave since October. The move suggests potential accumulation despite price weakness.

Meme Coins Outperform Majors

Meme tokens posted double-digit gains while major cryptocurrencies languished, with CoinDesk's memecoin index rising as traders rotated into higher-beta assets.

Interactive Brokers Adds Crypto Futures

IBKR expanded its crypto suite with nano Bitcoin and Ether futures through Coinbase Derivatives, building on its January stablecoin push.

Technology

MegaETH Launches Public Mainnet

The new blockchain went live with millisecond block times and real-time execution capabilities, challenging traditional Layer 2 approaches with its performance-first design.

Ethereum Validator Proof Verification Concerns

Researchers highlighted potential centralization risks as Ethereum's move to proof verification could require 12 GPUs for home validators, creating new barriers to participation.

Vitalik Outlines Ethereum's AI Role

Ethereum co-founder Vitalik Buterin sketched how Ethereum could serve as an economic coordination layer for decentralized AI systems rather than competing in the AGI race.

Corporate

MrBeast Acquires Banking App

Beast Industries purchased teen-focused banking platform Step following a $200M BitMine deal, potentially democratizing financial services for younger audiences.

Kraken Fires CFO Ahead of IPO

The crypto exchange moved CFO Stephanie Lemmerman to a strategic advisory role ahead of its long-awaited public offering, according to sources familiar with the matter.

Tether Invests in LayerZero Labs

The stablecoin issuer backed LayerZero's cross-chain infrastructure as part of its focus on omnichain technology and "agentic finance" use cases.

Quick Hits

Hyperliquid's permissionless perpetuals hit $5.2B daily volume amid metals trading frenzy
Ripple Custody enabled Ethereum and Solana staking for institutional clients
Bitcoin whales moved $4.7B into cold storage during recent selloff
Google warned of AI-powered North Korean malware targeting crypto and DeFi
Prediction markets grew 4x to $63.5B in 2025 but face structural strain risks
MoonPay partnered with Deel to enable stablecoin payroll for 40,000 businesses
Jump Trading to take stakes in Polymarket and Kalshi prediction markets
South Korea probes Bithumb over $43B fat-finger incident
CME Group to launch futures for Cardano, Chainlink, and Stellar

What to Watch

Wednesday's US jobs report could impact crypto sentiment and Fed policy expectations
Coinbase earnings on Thursday amid JPMorgan price target cut and 30% YTD stock decline
Ripple's XRP Community Day featuring Grayscale and Gemini leadership
Continued institutional adoption signals despite market weakness
Regulatory developments around prediction markets in Massachusetts and Nevada

Frequently Asked Questions

What is the significance of the Bank of England's blockchain pilot with Chainlink?

The six-month pilot represents a major step toward institutional adoption of blockchain technology in traditional finance. By testing distributed-ledger settlement infrastructure with central bank money, the BoE is exploring how core UK financial markets could transition onchain, potentially revolutionizing securities settlement and market infrastructure.

Why is Michael Saylor continuing to buy Bitcoin despite market weakness?

Saylor views Bitcoin as a long-term treasury asset with "no credit risk" and believes it will "double or triple" S&P 500 returns over the coming years. MicroStrategy's strategy involves continuous quarterly purchases regardless of price, treating Bitcoin as digital capital rather than a trading asset, even as the company's treasury value currently sits below acquisition cost.

What are Sam Bankman-Fried's chances of getting a new trial?

Legal experts suggest new trial motions face high hurdles, requiring demonstration of significant procedural errors or newly discovered evidence that could materially affect the verdict. While SBF claims to have found new evidence after firing his attorney, federal courts rarely grant such motions unless there are compelling grounds showing the original trial was fundamentally flawed.