hodler

11 Feb 2026, 20:15

Sky Protocol became one of the top fee producers for 2025, with $338M in revenues

Sky Protocol, formerly MakerDAO, closed 2025 with significant revenue growth, reaching $338M. The lending platform adapted to the shifting market by lowering its expenses by 63%. Sky Protocol achieved $338M in total revenues for 2025, showing its model was robust even under non-ideal trading conditions. Sky Protocol retained its momentum in early 2026, as it remained in the green despite the market drawdown. Following the latest positive results, SKY traded near its higher range for the past three months at $0.065. Trading volumes recovered to a three-month high of $19M in 24 hours. During market turbulence, Sky Protocol remained a reliable source of loans and liquidity. In 2025, the protocol increased its USDS stablecoin supply by 74%, showing trust in the lending mechanism. The biggest driver of stability was the buybacks. Sky Protocol did not take up haphazard buybacks to stave off market decline. Instead, support for the SKY token directly reflects the fees generated by the protocol. Sky Protocol: leaner and a better fee producer Sky Protocol showed a successful pivot from the Maker DAO stablecoin mechanism. The chief tool of the protocol was the adaptable savings rate, which is currently recovered to 4%, from lows of 2.75%. During previous cycles, Sky Protocol offered up to 12.5% return on USDS. The protocol still carries the legacy DAI token, which is also active in DeFi. During the 2025 market cycle, Sky Protocol operated with a lower value locked, lagging behind Aave. Sky Protocol drew in $5.34B, decreasing from $9.18B in early 2025. Spark Lend carries $2.43B in liquidity, ranking within the top 5 on-chain lenders. Despite the lower liquidity, Sky Protocol grew its fee production to a higher baseline, drawing in around $1.13M in 24 hours. USDS also supplies near-record liquidity, with a supply of over 9.57B tokens. The ecosystem continued to grow slowly in the first months of 2026, despite the downturn in ETH and BTC. USDS expands its DEX activity In addition to being used for lending, USDS is spreading across the DeFi ecosystem. In the past four months, USDS volumes on decentralized markets grew to new peaks. The token is most actively trading on the new Manifest DEX, as well as Curve, its traditional legacy market. Recently, SUI announced it will add suiUSDSe, a native version of the Sky Protocol token. USDS activity increased on DEX in the past three months, boosted by a growing supply and new partnerships. | Source: Dune Analytics Over the course of 2025, Token Terminal data shows USDS activity on Sky Protocol expanded by 400%, based on more active transfers. Those transfers also translated into higher fees. Sky Protocol shows the rising demand for alternative sources of liquidity and reliable lending vaults to tap the value of crypto collaterals. Lenders also put their USDS to work, making it one of the key stablecoins to distribute passive income. If you're reading this, you’re already ahead. Stay there with our newsletter .

11 Feb 2026, 19:30

Bitwise's Matt Hougan says BlackRock's tokenized iShares plan is "one of the key narratives to lead the market out of a bear market"

BlackRock’s plan to tokenize its flagship iShares ETF lineup has triggered a bubbly response from the crypto community, with analysts calling the development a critical catalyst that could potentially lift the crypto market out of its prolonged downturn. Latest developments reveal that BlackRock is in active discussion with the US Securities and Exchange Commission (SEC) to move its flagship iShares ETFs onto blockchain rails. If it succeeds, this could lead to the creation of programmable, 24/7-settling ETF tokens that can be used as collateral in DeFi protocols. However, this is still an uncertainty, with BlackRock’s CFO Martin Small acknowledging that he could not determine whether the process would be completed “in 90 days or 12 months”. "I can't tell you if it happens in 90 days or 12 months," said Martin Small, CFO of BlackRock. That's 12 months at the outside. If you're wondering what narratives will lead us out of the bear market, this is one of them. Bullish L1s and quite bullish DeFi imo. pic.twitter.com/Z40c22ZLGY — Matt Hougan (@Matt_Hougan) February 11, 2026 Tokenized ETFs promise 24/7 settlement and DeFi integration For iShares ETFs (representing holdings in stocks, bonds, and other traditional securities), tokenization would allow investors to trade, transfer, or use these assets as collateral in DeFi lending protocols without having to leave their digital wallets. Bitwise Chief Investment Officer, Matt Hougan, considers this move a transformative one, saying that it is “one of the key narratives to lead the market out of a bear market” and emphasizing that the development is “very positive for Layer one blockchains and the decentralized finance (DeFi) sector.” As such, tokenized iShares could serve as a potential new base layer of collateral backed by regulated cash flows and established issuers. The CEO of BlackRock, Larry Fink, had previously described tokenization as “one of the most exciting areas of growth in financial markets” during an earnings call. Being the world’s largest asset manager, BlackRock views the nearly $4 trillion held in digital wallets across crypto assets, stablecoins, and tokenized assets as a major growth opportunity, especially with younger investors who are already comfortable with tokenized assets but lack access to high-quality traditional investment programs. Other analysts suggest that BlackRock’s tokenized iShares may likely operate on established blockchain networks like Ethereum, or potentially on other private/permissioned blockchains, as the infrastructure choice will be critical for ensuring scalability and security. Is Bitwise pivoting strategy because of Bitcoin? This tokenization strategy comes as one of the avenues for navigating a bearish crypto market. Bitcoin is currently trading near $66,000 , down by approximately 4.57% over the last 24 hours, with about $47 billion in trading volume. Ethereum is trading at approximately $2,000 per token (down by nearly 5%), and Solana is trading around $78 (about a 6.5% reduction), leaving many firms with crypto exposure looking for ways to stay afloat in a very volatile period. Hougan told investors that he expects Bitcoin to settle between $75,000 and $100,000 in the first half of 2026, before spiking to record-breaking highs in the second half of the year as falling interest rates, institutional flows, and lower volatility replace the usual four-year cycle pattern. However, for Bitwise, which trades across Bitcoin, Ethereum, Solana, and XRP ETFs (plus its Crypto Industry Innovators equity fund), the tokenization wave delivers both opportunity and competitive pressure. The firm has already started preparing itself for the shift by launching the Model Portfolio Solutions for Digital Assets (now available across various billion-dollar advisory firms) earlier this month. This will give financial advisors more structured frameworks to allocate crypto through ETFs. The race to capture $4 trillion in digital wallet capital is on The strategic importance of tokenized traditional assets goes beyond just adding blockchain settlement to existing assets. BlackRock’s strategy is targeting a critical gap: the $4 trillion sitting in digital wallets belonging to users who would like to remain in the crypto space but can’t access stocks, bonds, or diversified ETFs without converting their assets back into regular currency and using more traditional methods. “If we could orchestrate a business plan around tokenization of ETFs, it is young people who are heavy users of tokenized assets, and then we could introduce them to more traditional assets sooner in their life path,” Fink explained during BlackRock’s earnings discussion. For crypto platforms like Bitwise, the challenge is clear: BlackRock’s $10 trillion in assets under management plus the dominating iShares brand could quickly mop up market share in tokenized products, possibly repeating the pattern that happened with Bitcoin ETFs. BlackRock’s iShares Bitcoin Trust (IBIT) is now the fastest-growing ETF in history, accumulating over $70 billion in assets. According to RWA.xyz, the distributed asset value of the tokenized real-world asset market is close to $25 billion in on-chain value, with private credit organizations and US Treasury-backed products emerging as early adopters. Other major asset managers like Fidelity, Franklin Templeton, and Goldman Sachs are also expected to accelerate their tokenization strategies. As blockchain technology continues to mature, Hougan’s theory that tokenization will help lead crypto out of this bear market may be proven right. Nonetheless, at the moment, the race is on to sit comfortably at the intersection of traditional finance credibility and crypto distribution, with billions in assets and the future of digital finance at stake. If you're reading this, you’re already ahead. Stay there with our newsletter .

11 Feb 2026, 19:30

Flow and HTX Confirm Full Protection of User Assets, Restore Full FLOW Services Following Security Resolution

BitcoinWorld Flow and HTX Confirm Full Protection of User Assets, Restore Full FLOW Services Following Security Resolution Vancouver, British Columbia, Canada Flow, a consumer-first blockchain, and HTX, a leading global crypto exchange, today confirmed the full restoration of FLOW trading, deposits, and withdrawals on HTX following the December 27, 2025 security incident on the Flow network. Since the incident, Flow validators and core contributors executed a coordinated remediation process that contained the exploit, patched the vulnerability, and restored normal network operations, preserving the integrity of legitimate user balances at the network level. Concurrently, HTX activated its internal risk management and asset verification procedures, maintaining close and continuous coordination with the Flow team to assess impact, reconcile asset status, and safeguard user interests. Through these joint efforts, both parties affirm that all FLOW assets held by users on HTX remain intact and fully validated. Upon completing its internal reconciliation process, HTX resumed full FLOW services on its platform, confirming successful resolution of the incident and the continuation of standard listing status. “The complete protection of user assets is non-negotiable for HTX. This outcome underscores our steadfast user-first philosophy and the value of constructive engagement across the blockchain ecosystem,” said Molly Fu, Spokesperson of HTX. “We appreciate the close collaboration with the Flow team throughout this process and remain committed to working with partners to strengthen security practices, governance coordination, and long-term ecosystem resilience.” “HTX is a valued global partner for Flow, and we look forward to growing together,” said Roham Gharegozlou, CEO of Dapper Labs and Board Member at Flow Foundation. “Disney, the NBA, and the NFL chose Flow for a reason — and that reason hasn’t changed. Flow is where the world’s biggest brands meet the next generation of consumer products. And we’re just getting started.” The restoration arrives on the heels of news that the Flow network recently surpassed 40 million unique user accounts and 950 million transactions processed. Flow remains the most widely adopted consumer blockchain, with leading applications in sports, entertainment, and digital finance. As an important partner of the Flow ecosystem and leader in the blockchain industry, HTX will continue to uphold the highest standards of asset safety and disciplined risk management. Guided by a user-first approach, the platform is dedicated to reinforcing the trust, operational rigor, and resilience essential to sustainable growth in Web3. About Flow Flow is a consumer-first blockchain, trusted by today’s top global brands, powering 40 million accounts and 950 million transactions across sports, entertainment, and digital finance. Flow is the home of leading consumer platforms including NBA Top Shot, NFL ALL DAY, and Disney Pinnacle by Dapper Labs. Built for scale, usability, and reliability, Flow is expanding the types of consumer applications it supports, including new financial experiences designed for everyday users. For more info, visit Flow.com . About HTX Founded in 2013, HTX (formerly Huobi) has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses. As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,” HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide. To learn more about HTX, please visit https://www.htx.com/ or HTX Square , and follow HTX on X , Telegram , and Discord . For further inquiries, please contact [email protected] . cc(at)wearetheuntold.com This post Flow and HTX Confirm Full Protection of User Assets, Restore Full FLOW Services Following Security Resolution first appeared on BitcoinWorld .

11 Feb 2026, 19:20

Orbital AI Data Centers: The Daunting Economic Reality Behind the Space Compute Dream

BitcoinWorld Orbital AI Data Centers: The Daunting Economic Reality Behind the Space Compute Dream San Francisco, CA – October 2025 : The vision of massive artificial intelligence data centers floating in orbit has shifted from science fiction to a serious corporate strategy. However, beneath the ambitious announcements from SpaceX, Google, and well-funded startups lies a brutal economic equation. Launch costs, satellite manufacturing, and the unforgiving space environment present monumental hurdles that make terrestrial data centers, for now, the far cheaper option. The Sky-High Price Tag of Orbital Compute Currently, building compute capacity in space carries a staggering premium. According to an analysis by space engineer Andrew McCalip, a 1 Gigawatt orbital data center could cost approximately $42.4 billion. This figure is nearly three times the cost of an equivalent ground-based facility. The primary drivers are the upfront capital expenditures for satellite construction and the expense of launching thousands of tons of hardware into orbit. This economic reality tempers the immediate feasibility of projects like SpaceX’s proposed million-satellite constellation or Starcloud’s 80,000-satellite network. Experts consistently identify launch costs as the fundamental barrier. While SpaceX’s Falcon 9 has dramatically reduced prices to roughly $3,600 per kilogram, orbital data center business models require a further 18-fold reduction. Project Suncatcher, Google’s space AI effort, cites a target of $200/kg, a milestone not expected until the 2030s. The entire economic case hinges on the success and pricing strategy of next-generation vehicles like SpaceX’s Starship, which remains in development. The Manufacturing Challenge Beyond Launch Even with cheaper launches, satellite production costs present a second massive hurdle. “People are not taking into account the satellites are almost $1,000 a kilo right now,” McCalip noted. High-performance AI satellites need robust solar arrays, advanced thermal management systems, and laser communication links. Mass-producing these complex systems at a fraction of current costs is essential. SpaceX’s experience scaling Starlink production offers a blueprint, but AI satellites are fundamentally more demanding and expensive. Confronting the Hostile Space Environment Proponents often claim space offers “free” cooling, but this is a significant oversimplification. In reality, dissipating heat in a vacuum requires large, heavy radiators. “You’re relying on very large radiators to just be able to dissipate that heat into the blackness of space,” explained Mike Safyan of Planet Labs, which is building prototypes for Google. Thermal management is recognized as a long-term engineering challenge. Furthermore, cosmic radiation poses a constant threat. It degrades silicon chips over time and can cause “bit flip” errors that corrupt data. Mitigation strategies like radiation shielding or using hardened components add mass, complexity, and cost. Companies like Google and SpaceX are actively testing their AI chips in particle accelerators to understand these effects. Additionally, the solar panels that power these stations face their own dilemma: cheap silicon panels degrade quickly in space, while durable, space-grade panels are prohibitively expensive. Architectural and Workload Limitations A critical, unanswered question is what type of AI work these orbital centers will actually perform. Training massive AI models requires thousands of GPUs to work in tight coordination with extremely high-bandwidth connections. Current inter-satellite laser links max out around 100 Gbps, far below the hundreds of gigabits per second used in terrestrial data center networks. Google’s Project Suncatcher concept addresses this by flying 81 satellites in a precise formation to use terrestrial-grade connections, introducing immense operational complexity. Consequently, the initial use case will likely be AI inference —the process of running a trained model, such as answering a ChatGPT query—rather than training. Inference tasks can be performed on dozens of GPUs, potentially on a single satellite. “Training is not the ideal thing to do in space,” said Starcloud CEO Philip Johnston. “I think almost all inference workloads will be done in space.” This delineation shapes the near-term business model and potential revenue streams for the first orbital AI deployments. The Path to Economic Viability The economic case for orbital AI rests on a convergence of factors beyond just cheaper launches. It requires: Massive Capital Investment: Funding the development of new spacecraft, supply chains, and infrastructure. Technology Breakthroughs: In radiation-hardened computing, efficient space-based power, and thermal management. Rising Terrestrial Costs: The equation improves if ground-based data centers face soaring energy prices, resource scarcity, or regulatory bottlenecks. For a company like SpaceX, the strategy may be one of optionality. By developing both terrestrial AI compute through xAI and orbital capabilities, it can scale where it finds the fewest constraints. “A FLOP is a FLOP, it doesn’t matter where it lives,” McCalip said. “[SpaceX] can just scale until [it] hits permitting or capex bottlenecks on the ground, and then fall back to [their] space deployments.” Conclusion The dream of orbital AI data centers is propelled by genuine technological ambition and the promise of nearly limitless solar energy. However, the current economics are brutally challenging. Success depends not on a single innovation, but on simultaneous advances across launch vehicles, satellite manufacturing, and space-hardened computing. While prototypes may launch by 2027 and small-scale inference operations could begin sooner, the vision of shifting a significant percentage of global compute to orbit by 2028 remains a formidable long-term bet against physics, engineering, and finance. The race is less about who announces first and more about who can systematically dismantle this multi-faceted cost barrier. FAQs Q1: Why are companies like SpaceX interested in orbital AI data centers? Companies are pursuing orbital AI primarily for energy arbitrage. Solar panels in space are far more efficient and can generate power nearly continuously. This could potentially provide a vast, clean energy source for power-hungry AI computations, circumventing terrestrial grid limitations and costs. Q2: What is the biggest cost obstacle for space-based data centers? The single largest cost obstacle is launch expense. Putting the massive weight of servers, solar panels, and supporting infrastructure into orbit is prohibitively expensive with current rocket technology. The business case requires launch costs to drop from thousands of dollars per kilogram to just a few hundred. Q3: Can AI models be trained in orbit? Training the largest AI models in orbit is currently impractical due to the need for extremely high-speed, low-latency connections between thousands of chips. The initial focus for orbital compute is on AI inference —running already-trained models—which has less demanding hardware coordination requirements. Q4: How does radiation in space affect computer chips? Cosmic radiation can degrade silicon chips over time and cause “bit flips,” where data in memory is accidentally changed. This can corrupt calculations and crash systems. Protecting chips requires heavy shielding or specialized, expensive “rad-hardened” components, both of which increase cost and mass. Q5: When could orbital data centers become economically competitive? Most analysts and company roadmaps, such as Google’s Project Suncatcher, suggest orbital data centers are unlikely to be cost-competitive with terrestrial centers until the 2030s. This timeline depends on the successful development and dramatic cost reduction of new heavy-lift rockets like Starship, alongside breakthroughs in satellite manufacturing. This post Orbital AI Data Centers: The Daunting Economic Reality Behind the Space Compute Dream first appeared on BitcoinWorld .

11 Feb 2026, 19:05

Ripple CLO to XRP Army: “Compromise Is in the Air”

Regulatory clarity is shaping up as the next big milestone for crypto, and Ripple is front and center. Stablecoin reward programs—long a gray area in U.S. law—are now seeing real progress thanks to high-level talks between banks and crypto innovators. White House Session Signals Momentum Eleanor Terrett reported that a focused follow-up White House meeting on stablecoin yields gathered top executives from banks, crypto firms, and trade associations. While no final deal was reached, insiders described the session as “productive.” Ripple Chief Legal Officer Stuart Alderoty summed up the mood: “Compromise is in the air.” The discussion tackled practical questions about what activities crypto firms can legally offer to users. This is key for platforms like Ripple, which rely on flexible stablecoin programs to expand their services. NEW: Details from the White House stablecoin yield meeting, per banking and crypto sources in the room: People on both sides called the meeting ‘productive,’ but, again, no compromise was reached by the end of the meeting. However, deal specifics were discussed in more detail… pic.twitter.com/w5nPlG1DLi — Eleanor Terrett (@EleanorTerrett) February 11, 2026 Banks Shift Toward Cooperation One standout moment: banks signaled willingness to consider exemptions for transaction-based rewards—a stance they previously rejected. This marks a shift toward regulated experimentation, opening the door for innovative crypto solutions within traditional frameworks. Defining “permissible activities” also sparked debate. Crypto leaders advocated for broad interpretations to fuel innovation, while banks pushed for narrower definitions to control risk. The dialogue shows both sides are searching for a middle ground—a positive sign for Ripple and the wider XRP ecosystem. Who’s Driving the Talks The session, led by Patrick Witt of the President’s Crypto Council, included Senate Banking Committee staff and top crypto representatives such as Alderoty (Ripple), Paul Grewal (Coinbase), Miles Jennings (a16z), Josh Rosner (Paxos), and Summer Mersinger (Blockchain Association). We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Banks sent heavy hitters too, including Goldman Sachs, JPMorgan, Bank of America, Citi, and Wells Fargo, alongside trade associations like ABA Bankers and ICBA. The smaller format allowed for sharper, technical discussions on legal, operational, and regulatory nuances. What’s Next More talks are expected before the March 1 White House deadline. Ripple’s active participation signals confidence that a balanced framework—one that fosters innovation while staying compliant—is achievable. For the XRP Army, this is bullish news. As banks show openness and regulators engage constructively, Ripple’s stablecoin initiatives gain legitimacy and momentum. The message is clear: dialogue, compromise, and collaboration are paving the way for a stronger, more integrated crypto ecosystem. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Ripple CLO to XRP Army: “Compromise Is in the Air” appeared first on Times Tabloid .

11 Feb 2026, 19:00

Ethereum On Discount: On-Chain Tracker Flags Massive ETH Buys After Price Crash

Ethereum’s (ETH) latest price crash is triggering aggressive capital rotation from institutional investors positioning around perceived value zones. Fresh on-chain tracking shows large ETH purchases emerging immediately after the decline, reinforcing the view that deep-pocket players are treating the pullback as a discounted entry opportunity rather than a sign of structural weakness. Institutional Capital Steps In As Ethereum (ETH) Slides Blockchain monitoring data linked to Fundstrat analyst Tom Lee indicates that Bitmine executed another major Ethereum purchase directly following the market drop. The transaction involved 20K ETH valued at $41.08M, sourced from FalconX’s hot wallet tagged 0x115 and transferred into a Bitmine-associated wallet ending 0x3BF. The timing strengthens the signal behind the move. The transfer occurred roughly 41 minutes before it was flagged by the on-chain tracker, placing the acquisition right in the middle of the post-crash repricing window . This purchase also forms part of a broader acquisition pattern. Six days earlier, another 20K ETH moved through the same FalconX-to-Bitmine channel, carrying a valuation of $46.04M at the time. The difference in valuation between the two transactions shows that the most recent buy secured Ethereum at a lower effective cost basis. In practical terms, this reflects discounted accumulation enabled by the asset’s price compression. When identical transaction sizes appear across declining price conditions , the behavior typically reflects scaling — a structured approach to building exposure. Rather than representing a one-time allocation, the pattern suggests deliberate position expansion during a period of liquidity stress. Historical Wallet Flows Expose Broader Accumulation Structure Transfer records visible within the same dashboard widen the analytical scope beyond the primary flagged transaction. Around two weeks ago, several large Ethereum movements were routed from Bitmine : WalletSimple into a BatchDeposit wallet tagged 0xcD7, pointing toward internal aggregation, custody staging, or exchange settlement preparation. The capital involved in these transfers was substantial and consistently structured. One movement recorded 40.32K ETH valued at $113.39M, followed by 38.4K ETH worth $107.99M. Additional flows included 30.72K ETH totaling $86.39M, alongside another 38.4K ETH transfer carrying the same valuation. The routing sequence continued with 28.8K ETH valued at $80.99M, 26.88K ETH at $75.59M, another 30.72K ETH worth $86.39M, 34.56K ETH totaling $97.19M, and 23.04K ETH valued at $64.79M. The repetition in tranche sizing signals operational treasury routing rather than discretionary trading. BatchDeposit channels are commonly used for consolidation and custody alignment, meaning the Ethereum was likely being organized for storage, collateral use, or staged deployment. When these historical flows are assessed alongside the more recent FalconX outflows into Bitmine wallets, a clear acquisition pipeline takes shape. Liquidity appears to be sourced through institutional brokers , routed across internal wallets, and consolidated through deposit infrastructure. Taken together, these buy-ins suggest that despite Ethereum’s short-term price weakness, Fundstrat-linked capital channels are expanding exposure into the downturn rather than stepping away from it.