Industry News

Tracks company news, strategic changes, funding activities, and personnel adjustments across the blockchain and crypto industries, delivering a full-spectrum industry overview for our users.

Winklevoss Stays Bullish as Gemini Faces Reset

Tyler Winklevoss remains optimistic about crypto despite bleak market conditions, even as the exchange he co-founded, Gemini, undergoes a significant strategic reset due to mounting financial pressures. While Gemini's revenue rose to an expected $165-$175 million in 2025, its operating costs surged to over $520 million. This widening gap forced the company to cut 25% of its workforce, exit several international markets, and part ways with key executives. Consequently, Gemini's global market share has fallen sharply, and its valuation has dropped significantly. The company is now pivoting to new areas like prediction markets and custody services to diversify revenue. This restructuring occurs amid a negative crypto sentiment, with Bitcoin ETFs seeing outflows and fear levels high. Despite this, Tyler views the extreme pessimism as a potential precursor to recovery, though Gemini must first stabilize its operations to convert optimism into tangible results.

TheNewsCrypto02/23 13:24

Winklevoss Stays Bullish as Gemini Faces Reset

TheNewsCrypto02/23 13:24

Pharos Establishes RealFi Alliance to Promote Institutional-Grade On-Chain Execution Standardization for RWA

Pharos Network has launched the RealFi Alliance, a strategic ecosystem initiative aimed at unifying institutional asset issuers, financial infrastructure providers, and on-chain builders. The alliance seeks to standardize and scale the execution framework for real-world assets (RWA), moving beyond isolated pilots. Founding members include Chainlink, Asseto Finance, Ember, Faroo, LayerZero, R25, Re7 Labs, TopNod, and Centrifuge. The alliance addresses systemic issues like fragmented liquidity, inconsistent infrastructure standards, and regulatory disconnects by creating a unified operational layer where RWAs remain active, composable, and capable of supporting institutional workflows. It operates on four core pillars: Asset Enablement (bringing real-world value on-chain securely), Infrastructure & Compliance (leveraging Pharos’s parallel execution and built-in compliance modules), Liquidity & Utility (designing clear functional use cases like staking and yield mechanisms), and Market Transparency (establishing trust through clear risk and return benchmarks). Pharos CEO Wish Wu emphasized that the goal is to create a unified environment for assets to operate at scale with institutional reliability. The upcoming Pharos mainnet will launch as a ready-to-use financial environment with integrated liquidity and compliance standards. The alliance plans to expand in structured batches, selecting new members based on asset quality, technical maturity, and ecosystem synergy. Pharos is a financial-grade Layer 1 blockchain designed for RealFi, combining modular architecture, parallel execution, and built-in compliance modules. It is developed by a team with backgrounds from Ant Group and is backed by investors like Hack VC and Faction VC.

marsbit02/23 13:02

Pharos Establishes RealFi Alliance to Promote Institutional-Grade On-Chain Execution Standardization for RWA

marsbit02/23 13:02

The War Between Stablecoins and Banking May Not Actually Exist

The article argues that the perceived war between stablecoins and traditional banking is largely illusory, drawing a parallel to the "Javon's Paradox" where technological efficiency (like ATMs) expands, rather than shrinks, an industry. From the supply side, blockchain and stablecoins are dismantling fragmented global payment infrastructures, replacing them with a single, open ledger. This drastically reduces the cost and complexity of offering financial services, enabling companies like Sling Money to operate globally with a small team. Examples like M-Pesa in Kenya and UPI in India show that lowering transaction costs to near zero leads to a massive expansion in financial inclusion, serving previously unbanked populations. On the cost side, the piece highlights the immense compliance burden on banks, which spend hundreds of billions annually on tasks like auditing and reconciling opaque transactions across correspondent banks. Shared ledger technology directly solves this by providing a single source of truth, eliminating reconciliation layers. Projects like J.P. Morgan's Onyx and the Canton Network demonstrate how banks are using this technology to achieve near-instant settlement and free up trapped capital. The convergence of these forces—lower barriers to entry and reduced internal operational costs—points to a future where more financial services are available to more people at a lower cost, much like cloud computing democratized access to computing power. The conclusion is that stablecoins will not destroy the banking system but will instead become a foundational infrastructure upon which more products are built, ultimately expanding the entire market.

Odaily星球日报02/23 12:47

The War Between Stablecoins and Banking May Not Actually Exist

Odaily星球日报02/23 12:47

Crypto’s Investable Universe Is Shrinking: NYDIG

According to NYDIG's Head of Research Greg Cipolaro, the crypto industry's investable universe is shrinking as markets mature. He argues that only a limited set of blockchain applications can attract sustained capital, suggesting the broader Web3 vision may need recalibration. Investors are now focusing on applications that extend traditional financial products onto blockchain infrastructure, including Bitcoin, tokenized assets, stablecoins, select DeFi infrastructure, and general-purpose blockchains like Ethereum. Cipolaro emphasizes that blockchain’s core attributes—trustlessness, permissionlessness, and censorship resistance—align best with financial use cases, where they provide clear advantages over centralized systems. He notes that most non-financial applications, such as gaming or social media, don’t require global immutable ledgers and are more efficiently served by centralized alternatives. This shift has led to capital concentration around fewer, stronger narratives, increasing Bitcoin’s market dominance while reducing investment in speculative altcoins. Cipolaro views this trend as market consolidation rather than collapse, with a focus on economically sustainable applications. A smaller, more durable market grounded in financial utility may enhance long-term stability and attract institutional interest. The crypto space may ultimately function as a specialized financial technology layer rather than a comprehensive Web3 overhaul. The next phase of development will likely emphasize real-world utility, regulatory clarity, and prudent capital allocation over rapid narrative expansion.

TheNewsCrypto02/23 09:02

Crypto’s Investable Universe Is Shrinking: NYDIG

TheNewsCrypto02/23 09:02

Bitdeer’s Bitcoin Balance Hits Zero After Total Sell-Off – Details

Bitdeer Technologies Group has completely sold off its entire Bitcoin holdings, reducing its corporate treasury balance to zero. This includes both recently mined coins and long-held reserves, totaling over 1,132 BTC. The move comes as the company seeks to raise more than $300 million through convertible notes to fund expansion into data centers, AI services, and ASIC development. The market reacted negatively, with shares falling around 15% due to concerns over dilution and debt. Meanwhile, Bitcoin’s price remains volatile, trading around $67,600 amid geopolitical tensions and macroeconomic developments. The decision reflects a strategic shift toward liquidity and operational funding over holding Bitcoin as a treasury asset.

bitcoinist02/23 07:31

Bitdeer’s Bitcoin Balance Hits Zero After Total Sell-Off – Details

bitcoinist02/23 07:31

OpenClaw Imposes Strict No-Crypto Rule on Discord

OpenClaw has implemented a strict no-cryptocurrency policy on its Discord server, banning any mentions of Bitcoin or other digital assets. This decision follows a high-profile scam involving a fraudulent Solana-based token, $CLAWD, which was promoted using abandoned social media handles during OpenClaw's rebrand. The token reached a $16 million market cap before crashing over 90% after creator Peter Steinberger denied any involvement. Although a user was temporarily banned for referencing Bitcoin block height in a technical discussion, the zero-tolerance policy remains. OpenClaw aims to prevent brand misuse and protect users from scams, prioritizing security over open discussion of blockchain topics.

TheNewsCrypto02/23 06:26

OpenClaw Imposes Strict No-Crypto Rule on Discord

TheNewsCrypto02/23 06:26

Bitdeer Liquidates 943.1 BTC Reserves: Is It a 'Winter Is Coming' for Mining Giants or a 'Breakthrough Rebirth' in the AI Sector?

Bitdeer, a major Bitcoin mining company, has completely liquidated its Bitcoin reserves, selling off 943.1 BTC despite recently becoming the world's largest publicly traded mining firm by self-mining hash rate (63.2 EH/s). This move reflects severe pressure from plummeting mining profitability, driven by a sharp 14.72% increase in Bitcoin network difficulty and a collapse in Hashprice to under $30/PH/s/day—pushing many miners toward unprofitability. Rather than holding volatile Bitcoin assets, Bitdeer is prioritizing cash flow and strategic financial maneuvering. The company raised $325 million via convertible senior notes, partly to restructure debt and hedge against equity dilution, signaling a shift toward sophisticated corporate finance practices. The core strategy involves pivoting from Bitcoin mining to high-performance computing (HPC) and AI cloud services. Bitdeer aims to leverage its energy infrastructure and data center expertise to capture opportunities in the high-demand AI compute market, where long-term contracts offer more stable revenue compared to Bitcoin's volatility. This transition marks a broader industry trend where large miners evolve into diversified energy and compute infrastructure providers, prioritizing capital efficiency and new high-margin opportunities over traditional "HODL" strategies.

marsbit02/23 04:41

Bitdeer Liquidates 943.1 BTC Reserves: Is It a 'Winter Is Coming' for Mining Giants or a 'Breakthrough Rebirth' in the AI Sector?

marsbit02/23 04:41

Financing Weekly Report | 10 Public Financing Events, Sports Prediction Market Novig Completes $75 Million Series B Financing Led by Pantera Capital

Last week (Feb 16-22) saw 10 disclosed blockchain funding rounds totaling over $143 million. Key highlights include Novig's $75 million Series B led by Pantera Capital for its sports prediction market, valuing the company at $500 million. In DeFi, derivatives protocol MYX secured a strategic investment from Consensys. Web3+AI firm Unicity Labs raised $3 million in seed funding. Infrastructure investments included $13 million for wallet infrastructure Kresus Labs and $8 million for API infrastructure Monark Markets. CeFi saw Stake raise $31 million in a Series B for its real estate tokenization platform, and Newity raised $11 million to explore on-chain small business lending. Other prediction market deals included PRED's $2.5 million seed round and a strategic investment in Kalshi by Tradeweb. Additionally, Dragonfly closed a $650 million crypto venture fund.

marsbit02/23 03:06

Financing Weekly Report | 10 Public Financing Events, Sports Prediction Market Novig Completes $75 Million Series B Financing Led by Pantera Capital

marsbit02/23 03:06

The Economist: In Asia, Stablecoins Are Becoming the New Financial Infrastructure

Stablecoins are rapidly emerging as a new financial infrastructure across Asia, driven by real-world needs for efficient and low-cost transactions. Despite cautious or strict regulatory stances in countries like India, cryptocurrency adoption continues to thrive. India, which imposes heavy taxes and transaction fees, still leads the global crypto adoption index, with inflows reaching approximately $338 billion from mid-2024 to 2025. A key application is cross-border remittances. With 24 million migrant workers in Southeast Asia, traditional remittance fees averaging 6.5% per $200 transfer pose a significant burden. Stablecoins, unlike volatile cryptocurrencies like Bitcoin, offer a stable, fast, and accessible alternative. From January to July last year, global stablecoin transfers exceeded $4 trillion. Businesses are also adopting stablecoins to streamline payments, reducing intermediaries, delays, and costs. Monthly stablecoin transactions between enterprises surged from under $100 million in early 2023 to over $6 billion by mid-2025. Additionally, Asia’s vast gig economy—over 210 million workers—benefits from instant salary settlements via stablecoins, bypassing traditional banking delays. However, the same features that benefit legitimate transactions—speed, low cost, and accessibility—also risk being exploited for illicit activities. The future of stablecoins in Asia will depend on how effectively regulators balance innovation with oversight. Success could reshape global finance; failure may leave crypto with a practical—but illegal—use case.

marsbit02/22 04:12

The Economist: In Asia, Stablecoins Are Becoming the New Financial Infrastructure

marsbit02/22 04:12

From Spring Festival Gala Robots to the Computing Power Energy War: Why Does China Hold the 'Trump Card' in the AI Era?

China's 2026 Spring Festival Gala showcased a breakthrough in embodied AI, featuring robots from companies like Magic Atom, Unitree, and Galaxy General performing complex tasks such as dancing, martial arts, and comedy. This demonstrated China's advanced progress in robotics and AI physical integration. Meanwhile, the U.S. faces an escalating energy crisis, with electricity prices rising 36% by early 2026. Training AI models like GPT-4 consumes power equivalent to 100,000 households annually, and U.S. data centers are projected to use 600,000 GWh by 2028. Aging infrastructure, fragmented grids, and lengthy approval processes for new transmission lines exacerbate the problem. In contrast, China has built a strategic advantage through decades of infrastructure investment. It operates 45 ultra-high-voltage (UHV) power transmission projects, spanning 40,000 kilometers, efficiently delivering clean energy from the west to eastern data centers. Renewable energy accounts for over 60% of China’s power capacity, with 40% of electricity coming from green sources. China also dominates transformer production, holding 60% of global capacity. While the U.S. excels in AI algorithms, China’s robust energy infrastructure—UHV grids, renewable energy, and manufacturing capacity—provides a foundational edge in the AI era, turning energy into a critical competitive asset.

marsbit02/22 02:27

From Spring Festival Gala Robots to the Computing Power Energy War: Why Does China Hold the 'Trump Card' in the AI Era?