This article summarizes cryptocurrency news as of February 11, 2026, focusing on the latest Bitcoin updates, Ethereum upgrades, Dogecoin trends, real-time crypto prices, and price forecasts. Major Web3 events today include:
- Gate Founder Dr. Han: Deep Integration of TradFi and DeFi, Multi-Asset Collaboration Driving a New Wave of Industry Expansion
During Consensus HK, Gate hosted a high-end networking reception inviting over a thousand industry guests. Gate founder and CEO Dr. Han stated in his speech titled “What’s the Next Big Thing in Crypto” that RWA and TradFi assets accelerating on-chain are driving the shift from conceptual integration to large-scale implementation of traditional finance and crypto systems. Multi-asset collaboration will become a key engine for industry expansion in the next phase.
In line with this trend, Gate continues to enhance its TradFi product offerings, covering stocks, metals, forex, indices, and commodities, supporting trading in gold, silver, Tesla, Nvidia, Apple, and other popular assets, with leverage up to 500x. They introduced the industry’s first adjustable gold leverage mechanism to increase asset allocation flexibility.
Data shows Gate’s total TradFi trading volume has surpassed $33 billion, with a single-day high over $6 billion, demonstrating the platform’s significant advantage in multi-asset trading structure and liquidity integration. It also provides a verifiable scale sample for crypto trading platforms to carry traditional financial assets, further promoting industry evolution toward multi-asset and integrated solutions.
- Larry Fink Warns of U.S. Debt Out of Control: Confidence in the Dollar May Be Eroded, Bitcoin and Gold as New Safe Havens?
BlackRock CEO Larry Fink warned that if the U.S. cannot effectively control rising debt interest payments, global confidence in the dollar could be severely impacted. He bluntly stated that if fiscal deterioration continues, the dollar might eventually become “a credit symbol like Monopoly money,” sparking rapid market discussion.
According to the latest U.S. Treasury data, federal debt neared $38 trillion, with about 20% of the annual budget used for interest payments. With interest rates remaining high, borrowing costs keep rising, quickly squeezing budgets for infrastructure, education, healthcare, and defense. Fink pointed out that if this trend spirals out of control, it will weaken U.S. fiscal flexibility and shake investor confidence in the dollar’s long-term stability.
He further emphasized that as the country needs more resources to pay off old debt, markets will reassess credit risk. Doubts about fiscal discipline could threaten the dollar’s status as the world’s primary reserve currency.
In this context, Fink mentioned “long-term value assets” as potential hedges. Historically, gold has been a safe haven during inflation and currency devaluation. Recently, some investors see Bitcoin as a digital asset hedge against fiat currency risk, given its fixed issuance mechanism believed to resist monetary over-issuance and preserve purchasing power.
However, the dollar still dominates global trade, foreign exchange reserves, and commodity pricing. Many central banks remain highly dependent on the dollar system, making it difficult to replace in the short term. But Fink’s warning highlights a reality: if debt and interest burdens continue to grow, the dollar’s long-term credit foundation will face greater challenges, and global capital flows may gradually shift.
- MSTR Plunge Revealed: Michael Saylor Says Bitcoin Bear Market Is “Dragging Down” Strategy Stock Price
Michael Saylor recently responded to Strategy (MSTR)’s continued stock decline, stating that the root cause is not operational or execution issues but that Bitcoin has entered a clear bear market phase over the past four months. As a highly “Bitcoinized” public company, MSTR’s stock performance is almost entirely dependent on BTC market cycles, a structural feature amplified in this correction.
Reviewing the market, Bitcoin surged above $110,000 at the end of 2025 but then lost momentum, falling back near $70,000, with significant retracement of previous gains. The prolonged decline caused market sentiment to turn sharply negative, pressuring risk assets overall, with MSTR, heavily exposed to Bitcoin, hit hardest.
Strategy is not a traditional software company; its valuation is not based on revenue or profit multiples but is highly synchronized with Bitcoin’s price. As of early 2026, the company holds over 250,000 BTC and continues to add via debt and equity financing. This high-leverage structure means that when Bitcoin drops, MSTR’s stock often falls even more.
The core reason is leverage effects. Fixed debt costs and rising market concerns over potential equity dilution rapidly increase risk premiums. Every Bitcoin correction is “magnified” in MSTR’s stock, leading to more volatile swings than spot BTC.
While some investors are surprised by the rapid market sentiment reversal, most analysts see MSTR’s movement as reflecting Bitcoin’s macro cycle rather than deteriorating fundamentals. Saylor has long positioned Strategy as “Bitcoin treasury company,” meaning its stock inherently has high elasticity and risk.
For investors, holding MSTR is essentially a leveraged bet on Bitcoin. If BTC rebounds or trends upward, MSTR may quickly recover losses; if the bear market persists, the stock could continue downward. Rational risk assessment and clear strategy are more important than emotions.
- AI Drains Liquidity from Crypto? Wintermute Warns: Capital Rotation Reshaping Bitcoin and Crypto Markets
Crypto market maker Wintermute, in its latest market commentary, pointed out that the AI investment boom has drained global available capital for months, weakening growth momentum for Bitcoin and the entire crypto market. The firm believes that if AI-related trading continues to dominate capital, digital assets may struggle to outperform other risk assets in the medium term.
Wintermute noted a clear sector rotation, with large-scale capital flows into AI stocks, reducing liquidity for crypto. Over the past year, driven by demand for chips, cloud computing, and automation, many AI leaders saw stock gains over 200%, attracting institutional allocations. In contrast, Bitcoin and mainstream cryptos, while still above previous cycle lows, lagged significantly behind the AI sector.
As a liquidity provider handling billions in daily digital asset trades, Wintermute observes increasing capital shifting from crypto to AI. This trend affects short-term prices and alters market risk appetite.
Historically, when a sector outperforms and gains consensus, valuations are quickly inflated, often followed by corrections. Wintermute suggests that if AI cools off, some funds may flow back into high-volatility assets like Bitcoin, fueling new crypto momentum.
However, some analysts warn that a sharp correction in AI stocks could trigger broader market volatility, putting pressure on all risk assets in the short term. Crypto prices are thus influenced by macro conditions, capital flows, and investor sentiment.
Before the AI-led capital allocation phase ends, Wintermute advises investors to monitor liquidity shifts and sector rotation signals, as these may determine the rhythm of the next crypto rally.
- Hong Kong Approaching Stablecoin License Issuance: First Approvals in March, New Phase of Digital Asset Regulation
Hong Kong Financial Secretary Paul Chan announced that Hong Kong is ready to issue its first stablecoin license in March, marking the start of practical stablecoin regulation locally. This statement was made at a digital asset industry conference, sparking market attention on “Hong Kong stablecoin regulatory framework” and “stablecoin issuance prospects.”
Paul Chan said that initially only a small number of licenses will be issued, with regulators focusing on applicants’ clear use cases, sustainable business models, and comprehensive compliance and risk management systems. He emphasized that stablecoins are not just payment tools but vital infrastructure connecting traditional finance and on-chain economy, requiring a balance between innovation and risk control.
In addition to stablecoins, Hong Kong is finalizing a licensing regime for custodians, expected to be legislated this summer. This will complement existing digital asset regulations, covering issuance, trading, and custody, creating a more complete compliant ecosystem.
Regarding industry trends, Paul Chan highlighted three accelerating directions: expanding tokenization of real-world assets, deepening integration of DeFi and traditional finance, and closer fusion of AI and blockchain. Traditional financial products like government bonds and money market funds are increasingly issued on-chain to improve settlement efficiency, support partial ownership, and address liquidity issues.
He also mentioned that as AI agents gain autonomous decision-making and execution, a “machine economy” may emerge, with AI systems holding and transferring digital assets, paying fees, and transacting on-chain. This scenario is seen as a potential application for stablecoins and blockchain infrastructure.
With the first stablecoin licenses approaching, Hong Kong aims to further strengthen its leadership in Asia’s digital asset regulation and innovation.
- Uniswap Wins Key Case! U.S. Court Dismisses Bancor Patent Lawsuit, Major Boost for DeFi Automated Market Makers
The U.S. Southern District Court dismissed a patent infringement lawsuit filed against Uniswap by Bancor’s Bprotocol Foundation and LocalCoin Ltd. Judge John G. Koeltl’s memo on February 10 stated that the involved patents are essentially “abstract concepts” that do not meet U.S. patent protection standards.
The case centered on the “Constant Product Automated Market Maker” model, a core liquidity pricing mechanism in DeFi. The plaintiffs claimed Uniswap illegally used their automated pricing and liquidity pool technology, but the court found these patents merely cover “basic economic practices of calculating exchange rates,” which, even when implemented on blockchain and smart contracts, do not qualify for patent protection.
The judge further noted that deploying abstract formulas on blockchain infrastructure does not constitute a “creative concept” technological breakthrough, thus failing the two-step patent eligibility test established by the Supreme Court. The court also found that the plaintiffs failed to adequately explain how Uniswap’s open-source code contains the patented key parameters, with clear defects in direct infringement, inducement, and willful infringement claims.
This ruling is a procedural victory for Uniswap but not a final judgment. The court allows the plaintiffs 21 days to amend their complaint; otherwise, the case will be dismissed with prejudice. After the announcement, Uniswap founder Hayden Adams posted “We won” on social media, showing optimism.
Industry experts see this case as not only a patent dispute between Uniswap and Bancor but also potentially setting a precedent for whether core DeFi algorithms can be patented. As on-chain financial innovation deepens, such judicial decisions will continue to influence the industry’s technological boundaries and compliance environment.
- Spot Bitcoin ETF Sees $167 Million Inflows in One Day, Institutions Rebalance XRP and Solana
The U.S. spot Bitcoin ETF recorded net inflows for the third consecutive trading day, attracting approximately $167 million on Tuesday, bringing weekly inflows to $311.6 million, nearly offsetting last week’s outflows of $318 million. Previously, these products experienced three weeks of net outflows totaling over $3 billion.
Despite Bitcoin’s price dropping about 13% over the past week and briefly falling below $68,000, capital flows indicate that institutional withdrawals have not been significant. Analysts note that recent selling pressure has eased, and ETF capital flows are stabilizing, with market sentiment gradually improving.
Meanwhile, institutional holdings have shifted. According to 13F filings with the SEC, Goldman Sachs significantly reduced its Bitcoin ETF exposure in Q4 2025, cutting holdings in a leading product by about 39%, and also decreased positions in several Ethereum ETFs.
Notably, Goldman Sachs disclosed holdings in spot XRP and Solana ETFs, purchasing roughly $152 million and $104 million worth, respectively, indicating a rebalancing approach toward some mainstream blockchain assets. Data shows recent modest inflows into spot altcoin ETFs, with Ethereum funds adding about $14 million in a day, and XRP and Solana products also recording small positive flows.
Bloomberg senior ETF analyst Eric Balchunas noted that despite increased volatility, most Bitcoin ETF investors continue to hold. He estimates that even during sharp declines, only about 6% of assets are likely to be liquidated. Even after scale-backs from peak levels, these funds have achieved the fastest growth to over $60 billion in assets.
From capital flows and institutional adjustments, spot Bitcoin ETFs remain a key indicator of crypto market sentiment, and a short-term rebound could signal further upside.
- Michael Saylor Continues to Bet on Bitcoin: Strategy’s Heavy Holdings Remain, Long-Term Returns Will Be Twice That of the S&P 500
Despite ongoing market volatility, Strategy Chairman Michael Saylor remains bullish on Bitcoin, expecting its long-term returns to double the S&P 500. Over the past year, Bitcoin fell sharply from a peak of $126,000 in October 2025, down about 28.6%. Meanwhile, Strategy’s stock declined more sharply, dropping near $103, then rebounding to around $138.
During the downturn, Strategy increased its holdings, investing about $90 million to buy 1,142 BTC, raising total holdings to 714,644 BTC, about 3.4% of the fixed supply. However, current Bitcoin prices are still below their overall cost basis. In Q3 2025, the company reported a net loss of $12.4 billion, with a loss of $42.93 per share.
In an interview with CNBC, Saylor denied that the company would be forced to sell assets. He said Strategy will continue to buy Bitcoin quarterly, viewing it as a core asset to replace dollar-based liabilities. Founded in 1989 as an enterprise software firm, Strategy shifted to Bitcoin reserves in 2020 and has become the world’s largest corporate Bitcoin holder.
CEO Phong Le added that the company’s balance sheet would only be pressured if Bitcoin fell below about $8,000 and stayed there for years—an unlikely scenario. He also noted the company has about two and a half years of cash reserves and can refinance debt in extreme conditions.
Saylor emphasized that ongoing institutional adoption of Bitcoin on Wall Street will support long-term prices. However, since over half of the assets are digital, MSCI is evaluating whether to remove Strategy from its index, adding uncertainty that continues to influence market sentiment.
- What to Do After a Crypto Market Crash? Tom Lee Offers “New Buying Logic” for Bitcoin and Ethereum
Fundstrat Chief Investment Officer and BitMine Immersion (BMNR) Chairman Tom Lee stated at Consensus Hong Kong 2026 that investors should stop obsessing over precisely timing market bottoms and instead focus on finding risk-reward opportunities during pullbacks. “What you should think about is opportunity, not panic selling,” he emphasized.
Recently, crypto markets have come under renewed pressure. Since reaching a peak in October 2025, Bitcoin has retraced about 50%, one of the sharpest corrections since 2022. On Wednesday, Bitcoin fell below $67,000, down about 2.8% in 24 hours; Ethereum also weakened, dropping to around $1,950, down about 3%.
Lee linked this decline to sharp swings in precious metals. He pointed out that in late January, gold’s market cap experienced trillions of dollars in daily volatility, triggering margin pressures and risk asset sell-offs. Since Bitcoin’s 2025 performance lagged gold, he believes metals may be near a high, while digital assets have better relative prospects before 2026.
Regarding Ethereum, Lee noted that since 2018, ETH has experienced multiple 50% deep retracements but often rebounded strongly afterward. He also cited technical analyst Tom DeMark’s view that ETH might briefly dip below $1,800 to form a “perfect bottom,” setting the stage for a mid-term recovery.
Lee concluded that markets rarely give a universally accepted bottom; instead, phased positioning, pacing, and focusing on long-term logic are more practical than chasing precise timing. For risk-tolerant investors, this stage is a key window to reassess risks and potential rewards.
- QCP: Short-Term Bottom May Be Forming, Market Expected to Maintain Range Volatility
QCP Capital released market analysis indicating that Bitcoin and Ethereum rebounded from last week’s lows, sparking optimism and suggesting a possible short-term bottom. QCP still expects BTC to trade within a range, awaiting new catalysts. Capital inflows are currently the main driver.
Yesterday, spot BTC ETFs recorded $145 million in net inflows, continuing Friday’s $371 million inflow and ending previous weeks of outflows exceeding $3 billion, indicating renewed institutional demand. Spot ETH ETFs also saw $57 million in net inflows after three days of outflows, supported by ongoing accumulation in Ethereum funds.
On the macro front, tensions between the U.S. and Iran eased after last Friday’s negotiations, and weak employment data increased expectations of a Fed rate cut in March. Focus now shifts to non-farm payrolls and CPI data, which could quickly reshape Fed expectations and risk appetite. The selling pressure on spot markets has eased, but market sentiment remains fragile, with the fear and greed index still at extreme fear levels. The BTC/ETH ratio remains stable between 33 and 34, indicating limited rotation; although implied volatility has retreated from highs, it remains elevated. In the upcoming macro data-heavy week, actual volatility is expected to stay firm.
- Pantera Partner: Record Capital Deployment in 2025, Focus on AI, RWA, Stablecoins, and More in 2026
Pantera Capital Managing Partner Paul Veradittakit stated at Consensus 2026 that Pantera currently manages $6 billion, and 2025 was its most active deployment year ever. Despite a 42% decline in crypto deal volume, venture capital funding increased 14% year-over-year, indicating a shift toward high-quality projects. Institutional holdings of Bitcoin have increased from 4% to 15%, with major banks and financial institutions like JPMorgan, Goldman Sachs, and Stripe deepening their crypto involvement.
Veradittakit predicts 2026 as the “Year of Utility” for crypto, with themes including AI and crypto integration, tokenization of RWAs (stocks, gold, real estate), stablecoins, and AI infrastructure. He highlights Asia’s advantages in retail, decentralized perpetual contracts, and prediction markets. For developers, he advises focusing on product-market fit and sustainable business models rather than mere token speculation.
- Arkham: Trend Research’s Final Loss on ETH Reached $869 Million
According to Arkham, Trend Research closed its final ETH position last Sunday, resulting in a net loss of $869 million. The firm’s ETH long position peaked at $2.1 billion. Now, their on-chain accounts are fully closed, with the final loss recorded at $869 million.
- Spark Connects DeFi and TradFi Borders, $9 Billion Stablecoin Liquidity Directly Linked to Institutional Capital
Decentralized finance protocol Spark announced the launch of a new institutional lending infrastructure aimed at building a secure on-chain bridge to traditional finance. Through Spark Prime and Spark Institutional Lending, Spark is bringing the deep liquidity of stablecoins in DeFi to previously off-chain reliant institutional lending markets.
Spark states that these services have expanded over $9 billion in deployed stablecoin liquidity to hedge funds, trading firms, and fintechs meeting custody and compliance standards. According to Galaxy, the off-chain crypto lending market is about $33 billion, indicating many institutions remain cautious about direct on-chain exposure but still have strong demand for crypto financing.
Phoenix Labs co-founder Sam MacPherson explained that the new system is essentially OTC crypto lending via qualified custodians, using overcollateralization to reduce systemic risk. He emphasized that uncollateralized loans previously caused serious issues, but the new design with risk controls and custody separation greatly enhances safety.
Spark Prime introduces a unified margin framework, allowing borrowers to deploy collateral across centralized platforms, DeFi protocols, and qualified custodians, with a single risk engine for liquidation and management. Powered by Arkis, it can automatically trigger cross-platform liquidations when risk exceeds thresholds, increasing capital efficiency for hedge funds and high-frequency strategies.
Spark Institutional Lending targets institutions preferring fully custodial models, partnering with providers like Anchorage Digital, enabling borrowers to use custody-approved collateral within regulated environments while accessing Spark’s on-chain liquidity pools.
Previously, Spark has supported core liquidity for several institutional products, including $1 billion+ for 2025 Bitcoin lending projects and stablecoin ecosystems. This upgrade signals Spark’s growing role as a key infrastructure connecting stablecoin demand with global capital markets. (CoinDesk)
- Galaxy CEO: The Crypto “Speculation Era” May Be Ending? Institutional Entry and RWA Rise Reshape Market Logic
Galaxy CEO Mike Novogratz spoke at CNBC’s Digital Finance Forum in New York, stating that as more risk-averse institutional capital enters, the “speculative era” of high-multiplier crypto returns may be ending, with the industry evolving toward more mature financial forms.
Novogratz noted retail investors often chase 2x or 10x returns, while institutions prioritize stability and risk management. This shift reduces the scope for outsized gains. He recalled the impact of the 2022 FTX collapse, when Bitcoin plunged about 78% from $69,000 to $15,700, shaking trust in the market.
He also mentioned the October 10 leverage unwind event, which, lacking clear catalysts, worsened capital outflows and selling pressure. “You look around, but it’s hard to find a real reason,” he said. To him, crypto is fundamentally a “narrative-driven asset,” and when funds exit, confidence and stories need time to rebuild.
Looking ahead, Novogratz sees real-world tokenized assets as a new growth driver. These assets, closer to traditional financial returns, can leverage blockchain’s efficiency and transparency. Ultimately, assets tied closely to the real economy will dominate the market.
Chainlink co-founder Sergey Nazarov echoed this view, suggesting RWA’s overall value could surpass that of traditional crypto assets and drive structural change.
Meanwhile, Lightspark co-founder and CEO David Marcus noted that Bitcoin holder profiles are changing, with more new users accessing the financial system via networks. Still, long-term Bitcoin hedgers remain resilient.
- Hong Kong Advances Perpetual Contract Innovation, Institutional Investors Can Access Bitcoin and Ethereum Financing
Hong Kong regulators are accelerating the rollout of perpetual contracts to diversify local crypto product offerings. HK Securities and Futures Commission (SFC) Chief Carrie Lam announced at Consensus Hong Kong 2026 that a high-level framework will soon be published allowing regulated exchanges to offer perpetual futures contracts to institutional clients.
Lam explained that the framework targets institutional investors, not retail, emphasizing risk management and fairness. Brokers will be able to provide financing to creditworthy institutions, with collateral including BTC and ETH, to ensure market stability.
Platforms trading perpetuals will need to establish independent market-making units and strict conflict-of-interest rules to ensure transparency and compliance. Lam said these measures extend Hong Kong’s 2025 crypto development roadmap, aiming to mature and innovate the local digital asset market.
She added that more details, including platform admission standards and risk controls, will be released soon, along with further development of custody and related markets to support the launch of these products. This positions Hong Kong to become a key financial hub for advanced crypto derivatives, offering more diverse investment and financing options for institutions.
