Stablecoin reserves on Binance have fallen from $50.9 billion in November to $41.4 billion, a decline of 18.6% that has taken balances back to October levels. The drop comes amid a broader crypto liquidity drought and expectations that U.S. interest rates will remain unchanged in March. Binance still holds about 64% of all exchange stablecoin reserves, but analysts say a renewed inflow of stablecoins may be needed to stabilize market liquidity.

Digital asset funds saw $288 million exit in the latest week, extending a five-week streak of outflows that has now reached $4 billion. Bitcoin products led with $215 million in redemptions, while XRP, Solana, and Chainlink posted modest inflows that failed to counter broad altcoin weakness. Concurrently, Bitcoin's drop below $65,000 triggered about $230 million in long liquidations amid rising geopolitical and macroeconomic uncertainty.

Digital asset treasury companies are publicly listed firms that accumulate crypto on their balance sheets, offering stockholders indirect exposure. The model began in 2020 with Strategy (formerly known as MicroStrategy) and has since expanded to 200+ companies holding assets like BTC, ETH, and SOL. These vehicles differ from ETFs, use leverage, and trade at premiums or discounts to NAV.

On Monday, Terraform Labs' liquidation administrator Todd Snyder filed a lawsuit against Jane Street, its co-founder Robert Granieri, and employees Bryce Pratt and Michael Huang, alleging insider trading before the 2022 Terra-Luna collapse. The complaint claims Jane Street used non-public information from former Terraform insiders and other firms, including Jump Trading, to profit from trades tied to TerraUSD and Luna.

Crypto markets opened under pressure after President Trump imposed 15% global tariffs, with US 30 down 0.55% to 49,354.5 and US Tech 100 off 0.89% to 24,790.9. Bitcoin climbed back above $66,000 toward $68,000 as Ethereum slipped 1.72%, while new SEC staff guidance applies a 2% haircut (98% recognition) to qualifying USD stablecoins.

Data from derivatives tracker CoinGlass shows that crypto exchanges liquidated about $507 million in positions over the past 24 hours, with roughly $438 million, or 86%, coming from long contracts. During this volatility, Bitcoin fell from $67,700 to $64,300 before rebounding, while its open interest dropped to $19.5 billion and bearish sentiment on social platforms climbed to a two-week high.

On Feb. 23, 2026, Backpack Exchange said users who stake its forthcoming token for at least one year will be able to swap those tokens for company equity equal to 20%. The firm detailed a 1 million‑token plan with 25% to unlock at TGE and another 37.5% before a potential U.S. IPO if milestones are achieved.

Ethereum is hovering near the $1,885 support area after a sharp market decline, with its price still trading below key moving averages. XRP remains under bearish pressure as it inches closer to the $1 level, while Shiba Inu continues to show fragile rebounds within a prolonged downtrend. Across these assets, weak buying conviction and persistent resistance zones highlight a cautious and defensive market backdrop.