Coinbase Global Inc. (NASDAQ:COIN) CEO Brian Armstrong acknowledged on Tuesday that the company is “misunderstood” on Wall Street, stating that some traditional finance players have not been able to stomach the cryptocurrency “disruption.”

Is TradFi Skeptical Of Crypto?

In an X post, Armstrong said that while one section has been “leaning” and “embracing” cryptocurrency, the other half has been “resisting.”

“I think some of these people are just inherently skeptical of crypto because of incentives – their whole careers have been built in the traditional financial system,” the cryptocurrency mogul argued. “They’re skeptical because it feels like a threat.”

Benzinga

American Bitcoin Corp. (NASDAQ:ABTC) co-founder Eric Trump toasted the firm’s treasury hitting the 6,000 Bitcoin (CRYPTO: BTC) milestone on Tuesday.

Trump Sees ‘Exciting Days Ahead’

In an X post, Trump stated that the firm hit the “incredible” milestone within six months of going public.

“Today is a testament to ABTC’s execution, which has built one of the fastest-growing Public Bitcoin reserves in the world, outpacing many established players in a fraction of the time,” Trump added. “Exciting days ahead!”

As of this writing, American Bitcoin holds 6,039 BTC, worth $409 million, according to BitcoinTreasuries.net, ahead of companies such as GameStop…

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Cryptocurrency-based prediction platform Polymarket is looking to penetrate the Chinese market, despite the country’s stringent prohibitions on online gambling.

Polymarket Targets Asian Giant For Growth

Polymarket has recruited Mandarin-speaking employees and is offering bets related to the Lunar New Year to appeal to Chinese users, reported Rest of World, a technology-focused publication.

Justin Yang, who oversees Polymarket’s market entry strategy in Asia, said China has become a “very important geography for” the company.

Yang said Polymarket introduced several China-centric markets based on users’ feedback, including those tied to the Spring Festival Gala, which is broadcast…

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Bitcoin is holding around $68,000 level, reflecting broader market softness and persistent fear sentiment.

Cryptocurrency
Ticker
Price

Bitcoin
(CRYPTO: BTC)
$67,989.66

Ethereum
(CRYPTO: ETH)
$1,999.07

Solana
(CRYPTO: SOL)
$85.11

XRP
(CRYPTO: XRP)
$1.48

Dogecoin
(CRYPTO: DOGE)
$0.1020

Shiba Inu
(CRYPTO: SHIB)
$0.056567

Notable Statistics:

Coinglass data shows 83,760 traders were liquidated in the past 24 hours for $196.52 million.
SoSoValue data shows net inflows of $15.2 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net inflows of $10.3 million.
In the past 24 hours, top losers include pippin, MYX Finance and Quant.

Notable Developments:

Cathie… Read more on Benzinga

BlackRock (NYSE:BLK) has filed an amended S-1 for its iShares Staked Ethereum (CRYPTO: ETH) Trust ETF, revealing an 18% cut of staking rewards split between the sponsor and prime execution agent.

The 18% Staking Fee Structure

The amended filing disclosed that the trust will pay an aggregate 18% of gross staking consideration as a “Staking Fee,” with the trust retaining the remainder. 

This 18% represents the combined total of two pieces: BlackRock’s staking-related portion and the prime execution agent’s share.

The prime execution agent can then pay portions onward to staking service providers.

Coinbase (NASDAQ:COIN) serves as both the custodian through Coinbase Custody Trust Company…

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BitMine Immersion Technologies (NYSE:BMNR) bought 45,759 Ethereum (CRYPTO: ETH) last week for over $90 million—its largest weekly purchase this year.

The Buying Spree Continues

BitMine’s total ETH holdings reached 4,371,497 tokens worth $8.7 billion at current prices, representing 3.62% of total ETH supply. 

The company also raised its cash pile to $670 million alongside a $200 million stake in Beast Industries, bringing total assets to $9.6 billion.

Staking generates meaningful revenue despite losses. BitMine has staked 3,040,483 ETH—69% of total holdings—generating $176 million in annualized rewards at a 2.89% yield. 

When MAVAN, the company’s proprietary staking solution,…

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Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, disclosed a significant increase in its position in BlackRock’s iShares Bitcoin Trust (IBIT), reporting ownership of 12.7 million shares valued at approximately $630.6 million as of December 31. 

This represents a 46% rise from the 8.7 million IBIT shares previously reported as of September 30. Mubadala manages a broad global portfolio spanning technology, healthcare, infrastructure, private equity and public markets, with assets under management exceeding USD 330 billion. 

The fund’s strategy aims to generate sustainable returns for the Government of Abu Dhabi and support economic…

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