KEYTAKEAWAYS
- Corporate Bitcoin holders face new accounting and tax challenges, with Strategy warning of potential significant tax obligations under the Inflation Reduction Act starting in 2026.
- Stablecoin market continues rapid evolution with Tether co-founder launching a yield-bearing competitor and major players issuing over $10.75B in new supply.
- Global regulatory landscape shows divergent approaches, with Japan approving new frameworks, Dubai granting strategic licenses, and Russia considering dedicated mining infrastructure.
CONTENT
Welcome to the CoinRank Crypto News Roundup. CoinRank will provide daily important crypto news in this column series, allowing readers to quickly obtain the latest crucial updates from the cryptocurrency market.
MORNING NEWS
1. Strategy Annual Report Warns of Bitcoin Volatility Risks and Potential Tax Burden
Bitcoin investment company Strategy (formerly MicroStrategy) reported in its February 18 10-K filing a net loss for fiscal year 2024 due to $1.79 billion in digital asset impairment losses. The company warned that significant Bitcoin market value declines might prevent future profitability and impact its ability to meet financial obligations. Additionally, with FASB’s new fair value accounting rules adoption from January 2025, Strategy cautioned that unrealized gains on its Bitcoin holdings may face a 15% Corporate Alternative Minimum Tax under the Inflation Reduction Act, potentially creating substantial cash payment obligations from 2026 onward.
2. Mastercard Crypto Business Head: Company Has Transitioned from Experimentation to Actual Crypto Solutions
Mastercard’s head of crypto and blockchain, Raj Dhamodharan, stated that the company has moved beyond experimentation to delivering real crypto solutions. Mastercard recently partnered with compliance firm Notabene to integrate its Crypto Credential system into the SafeTransact platform, enabling users to transfer crypto assets using email addresses instead of complex wallet addresses. Dhamodharan outlined three focus areas for 2025: building crypto on/off-ramp channels, expanding Crypto Credential functionality, and stablecoin operations.
3. Tether Co-Founder Developing Yield-Bearing Stablecoin
Tether co-founder Reeve Collins is developing a yield-bearing stablecoin project to compete with Tether, planned for launch on Ethereum and Solana blockchains later this year. The project will mint stablecoins through smart contracts, backed by yield-generating real-world assets such as bonds. Unlike Tether, which profits from reserve investments, the new project will distribute profits to participants who promote the stablecoin and will launch a governance token allowing holders to participate in platform decisions.
4. SEC Acknowledges Bitwise Spot XRP ETF Application and Seeks Public Feedback on Ethereum ETF Options Trading
The U.S. Securities and Exchange Commission has confirmed receipt of Bitwise’s spot XRP ETF application and is soliciting public feedback on whether to approve options trading for three spot Ethereum ETFs. According to regulatory filings, the SEC is seeking comments on allowing Cboe Exchange to list and trade options on Grayscale Ethereum Trust ETF, Grayscale Ethereum Mini Trust ETF, and Bitwise Ethereum ETF. Comments must be submitted within 21 days after publication in the Federal Register.
5. Data: Tether and Circle Have Issued $10.75 Billion in Stablecoins Since the Beginning of 2025
Since the start of 2025, Tether has minted 3 billion USDT on the Tron blockchain, while Circle has minted 7.75 billion USDC on Solana. Notably, direct minting activity on Ethereum has been minimal during this period.
NOON NEWS
1. Analyst: XRP ETF Approval Could Bring $800 Million Inflow in First Week
Northstake’s product head Luca Sorlini estimates that XRP ETF approval could generate first-week inflows between $400 million and $800 million. Sorlini notes that his prediction depends on various factors including overall market conditions, the number of competing ETFs launching simultaneously, and institutional interest in the offering. CF Benchmarks research head Gabe Selby made a similar projection, suggesting XRP ETFs could potentially attract “nine-figure” positive inflows upon launch.
2. Derivatives Data Shows Traders Expect ETH Price Increase Before April Pectra Upgrade
Derivatives data indicates renewed investor optimism, with traders positioning for ETH price recovery ahead of April’s Pectra upgrade, while Solana faces downward pressure. Derive.xyz founder Nick Forster notes that ETH’s seven-day implied volatility stands at 66%, comparable to its six-month IV, while Bitcoin’s IV is significantly lower. Forster estimates a 30% probability of Ethereum breaking above $3,000 by quarter-end, up from 28% last week.
3. Czech National Bank Governor Urges Central Bankers to Study Bitcoin
Czech National Bank Governor Aleš Michl has urged fellow central bank governors to study Bitcoin, emphasizing its unique potential as a reserve asset. Simultaneously, he cautioned investors on social media to exercise extreme care when considering crypto investments, noting that the market remains in its early stages and will experience volatility. Michl advised investing only in assets that investors understand and can afford to lose entirely.
4. DeFi Platform MANTRA Receives Dubai VASP License
DeFi platform MANTRA has obtained a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). The license will enhance MANTRA’s position in the Middle East and support its focus on real-world asset (RWA) tokenization.
5. Japan Financial Services Agency Approves New Crypto Regulatory Framework
On February 19, Japan’s Financial Services Agency approved the Financial Council’s working group report on fund settlement systems. The report proposes a new regulatory framework for crypto exchanges and stablecoins, incorporating Financial Instruments and Exchange Act provisions into the Payment Services Act. It introduces an “affiliation system” for crypto trading and allows stablecoin issuers to allocate up to 50% of assets in short-term government bonds and specific term deposits.
EVENING NEWS
1. Analysis: ETH/BTC Ratio May Have Bottomed, Potential Reversal Ahead if Monthly High Breaks
CoinPanel CEO Aran Hawker suggests Ethereum’s recent price action represents a catch-up to expected levels rather than outperformance. However, LMAX Group market strategist Joel Kruger offers a more optimistic view, stating that current market conditions may signal the end of ETH’s multi-year downtrend against BTC. Kruger emphasizes the importance of monitoring the ETH/BTC ratio’s current monthly high, as breaking above it could trigger a reversal in the trend.
2. Base Protocol Lead: Industry Recovery Depends on Long-Term Builders
Base protocol head Jesse Pollak commented on recent celebrity memecoin incidents, stating: “A few days from now, the same people will be back selling us the same product in slightly different packaging. The only way for this industry to escape this cycle is for long-term thinkers to build a better future. It’s up to us.”
3. Russian Official Proposes Dedicated Power Plants for Crypto Mining to Address Uncontrolled Energy Usage Russian State Council Energy Commission Chairman Aisen Nikolaev has proposed building dedicated power stations exclusively for cryptocurrency mining operations, separate from the public grid. Nikolaev stated that the State Council Energy Commission is in dialogue with the Energy Ministry regarding cryptocurrency mining issues. He believes innovative solutions will emerge soon, allowing Moscow to develop cryptocurrency mining businesses while protecting public interests. Currently, mining electricity usage in some Russian regions has reached “uncontrolled” levels, causing capacity shortages and degrading electricity supply quality for residents and businesses.
4. Crypto Lawyer: LIBRA Token Caused Losses for 74,698 Traders Totaling $286 Million
According to data disclosed by wassielawyer, the LIBRA token incident resulted in losses for 74,698 traders, totaling approximately $286 million. Among the affected traders, 25 lost over $1 million each, 52 lost between $500,000 and $1 million, and 71,369 retail traders lost less than $10,000 each.
5. Chainalysis: Sanctioned Entities Received $15.8 Billion in Crypto Last Year, Accounting for Nearly 39% of Illicit Transactions
A new Chainalysis report reveals that sanctioned entities received $15.8 billion in cryptocurrency during 2024, representing nearly 39% of all illicit crypto transactions. Sanctioned jurisdictions reached a record share in sanctions-related activity compared to individual entities, accounting for nearly 60% by the end of 2024.
As Western enforcement agencies intensified crackdowns, individuals and state-backed networks in Iran and Russia sought alternative financial systems to bypass Western restrictions. The report states that both countries adapted their financial strategies in 2024, using DeFi and no-KYC exchanges to maintain financial operations.
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