Top Stories of The Week
The US Securities and Exchange Commission’s (SEC) Crypto Task Force convened with representatives from both the cryptocurrency and traditional finance sectors to address regulatory challenges regarding digital assets in early February. The discussions highlighted several pressing matters, including staking regulations, the establishment of guidelines for exchange-traded products (ETPs), and the creation of a new framework to oversee this developing asset class. Official documents from the SEC indicate that on February 4, the Task Force met with the Blockchain Association, an influential industry lobby group, which presented six key areas for the Task Force to prioritize in order to address concerns affecting the digital asset sector. Among these were the need for clearer regulatory principles, a pro-innovation stance towards broker-dealers and exchanges, uniform standards for ETPs, and the classification of protocol staking as a non-security.
Elizabeth Warren Challenges Elon Musk Over CFPB Cuts
US Senator Elizabeth Warren is confronting Elon Musk and former President Donald Trump regarding their efforts aimed at disassembling the Consumer Financial Protection Bureau (CFPB), an agency she played a pivotal role in founding back in 2007. The CFPB, a federal agency dedicated to safeguarding consumer rights, experienced another round of layoffs on February 13, with reports indicating the termination of up to 100 employees. These layoffs occurred shortly after Russell Vought, the newly appointed acting head of the CFPB by Trump, halted the agency’s access to new funding, aligning with the Musk-led initiative focused on government efficiency and workforce optimization. Warren stated emphatically that only Congress has the authority to dismantle the CFPB, not Musk or Trump, during an interview with Mother Jones on February 12.
SEC Takes Note of Grayscale’s XRP and DOGE ETF Applications
The SEC has officially acknowledged the applications submitted by Grayscale, a prominent crypto asset manager, to list exchange-traded funds (ETFs) for spot XRP and Dogecoin. On February 13, the SEC’s acknowledgment of Grayscale’s Form 19b-4 filings for the Grayscale XRP Trust and the Grayscale Dogecoin Trust signals that the review process will commence shortly, adhering to a mandated 240-day timeline for decision-making. This countdown will begin once Grayscale’s filings are published in the SEC’s federal register, typically within a few days. If processed promptly, the SEC’s decision could be expected by mid-October.
Coinbase CEO Foresees Significant Crypto Integration by 2030
Brian Armstrong, CEO of Coinbase, predicts a transformative period for cryptocurrency in the United States, suggesting that by 2030, as much as 10% of the global gross domestic product (GDP) could be facilitated through crypto channels. Armstrong made this assertion during Coinbase’s earnings call on February 13, likening the current integration of crypto by businesses to the early 2000s when companies were compelled to adapt to the internet. He stated, “Onchain is the new online.” Should Armstrong’s forecast materialize, it would imply that over $10 trillion in value could be tokenized or exist on-chain, given the current global GDP exceeds $100 trillion, as reported by the World Bank.
Dog Named Broccoli Triggers Memecoin Craze
Changpeng “CZ” Zhao, the founder and former CEO of Binance, recently revealed that his dog is named Broccoli, which ignited a surge of memecoins inspired by the Belgian Malinois. Following CZ’s post on February 13, numerous Broccoli-themed tokens emerged on popular launching platforms for memecoins, such as Solana’s Pump.fun, which saw at least 480 Broccoli-related coins, and BNB Smart Chain’s Four.Meme, hosting around 300 coins at that time. Some of these tokens gained significant attention, with one Broccoli memecoin on Solana achieving a market capitalization of $1.5 billion on February 13. CZ clarified that he was not behind the launch of any memecoin himself, emphasizing that the initiative rests with the community.
Winners and Losers
As the week concludes, Bitcoin (BTC) is priced at $97,351, Ether (ETH) stands at $2,727, and XRP is valued at $2.73, with the total market capitalization reaching $3.24 trillion, according to CoinMarketCap. Among the top 100 cryptocurrencies, the leading altcoin gainers for the week include PancakeSwap (CAKE) at 75.99%, Sonic (previously FTM) (S) at 41.67%, and SPX6900 (SPX) at 35.51%. Conversely, the three biggest losers are Onyxcoin (XCN) at 19.09%, Bitget Token (BGB) at 16.21%, and DeXe (DEXE) at 12.10%. For additional information on cryptocurrency pricing, readers are encouraged to consult Cointelegraph’s market analysis.
Memorable Quotes of the Week
Cathie Wood, CEO of ARK Invest, remarked, “We actually think the odds have gone up that our bull case will be the right number, because of what is becoming the institutionalization of this new asset class.” Independent crypto analyst Matthew Hyland stated, “Crypto received the worst possible news of 2025 today, yet Alts hardly sold off, and some are in the green.” Hester Peirce, head of the SEC’s Crypto Task Force, expressed, “We assume that sometime soon, if Chairman Atkins is confirmed as chairman, he’ll come in and want to set his agenda.” Jeffrey Hu, head of research at HashKey Capital, noted, “Given the increasing abundance and diversity of crypto ventures and projects, the selection process is becoming tougher.” A pseudonymous Bitcoin trader, known as apsk32, observed, “Even during the biggest bubbles, Bitcoin has never gone more than five years ahead of the trendline. Right now, we’re near the one-year-ahead level, suggesting further upside.” Sam Altman, CEO of OpenAI, stated, “After that, a top goal for us is to unify o-series models and GPT-series models by creating systems that can use all our tools, know when to think for a long time or not, and generally be useful for a very wide range of tasks.”
Prediction of The Week
Despite recent outflows from ETFs, Cathie Wood maintains that the likelihood of Bitcoin reaching $1.5 million is on the rise, as institutional investors are increasing their engagement with digital assets. For now, Bitcoin has remained below the crucial $100,000 threshold since February 4, as market sentiment has been affected by global trade tensions sparked by new tariffs between the US and China. Nevertheless, Wood asserts that Bitcoin’s chances of surpassing $1.5 million have improved, stating, “We actually think the odds have gone up that our bull case will be the right number, because of what is becoming the institutionalization of this new asset class.”
FUD of The Week
An ex-manager from the layer-1 blockchain platform Near Protocol inadvertently exposed nude images during a public livestream, coinciding with a notable increase in the price of the NEAR token. Andrew Krynin, a former business development manager, was sharing his screen with Near core contributor Cameron Dennis when the images unexpectedly appeared, prompting Krynin to exclaim, “God damn it,” before halting the livestream. Meanwhile, the founder of CluCoin, who pleaded guilty to wire fraud for misappropriating $1.1 million in investor funds for online gambling, has requested leniency from a judge, asking to be sentenced to probation instead of prison. Austin Michael Taylor submitted a memo to a Miami federal court on February 11, admitting his poor judgment and highlighting his completion of a mental health program prior to his guilty plea. In contrast, prosecutors are seeking a prison term of around two and a half years for him.
In a separate incident, six individuals have been charged in connection with the alleged kidnapping of a Chicago family and their nanny, during which they reportedly forced the victims to transfer $15 million in cryptocurrencies. According to a February 12 report from the Chicago Tribune, the kidnappers, posing as individuals who had accidentally damaged the family’s garage door, gained access to their home at gunpoint. The victims were then transported to an Airbnb for one night before being moved to another location the following day, where the kidnappers demanded ransom payments in Bitcoin, Ether, and other digital currencies, threatening violence if their demands were not met.
Top Magazine Stories of The Week
In the latest developments, South Korea is set to lift its corporate ban on cryptocurrency, while concerns arise regarding hard drives recycled from Chia crypto farms by Seagate. Additionally, Coinbase is making moves to re-enter the Indian market, and a Japanese firm has purchased a significant amount of Bitcoin. Olas has introduced a platform that incentivizes users to train AI agents for better predictions in token rewards, while discussions continue around whether crypto is merely evolving into a version of traditional finance 2.0, moving further away from Satoshi Nakamoto’s original vision of eliminating trusted intermediaries.
