hodler

7 Feb 2026, 09:53

Over 11 billion flows into XRP in a day after massive crash

XRP has staged a sharp rebound over the past 24 hours, with more than $11 billion flowing back into the token as investors moved in following a steep, market-wide sell-off. By press time, XRP’s market capitalization stood at $89.14 billion, up from $77.86 billion a day earlier, marking an increase of $11.28 billion in a single session. XRP market cap chart. Source: CoinMarketCap The recovery followed a violent downturn that pushed XRP to multi-month lows near the $1.15 level, briefly intensifying fears of a deeper breakdown. Instead, buyers stepped in aggressively, pushing prices higher. As of press time, XRP was trading around $1.46, reflecting a gain of roughly 13% over the same 24-hour period as broader cryptocurrency markets began to stabilize. Why XRP price is rebounding On-chain data from Santiment showed clear signs of accumulation during the dip. Whale activity surged, with 1,389 transactions worth more than $100,000 recorded on the XRP Ledger, the highest level seen in four months. At the same time, network participation spiked sharply, as the number of unique active addresses jumped to 78,727 within a single eight-hour window, marking a six-month high. 📈 Crypto markets are rebounding, but $XRP 's price has been on a particularly huge tear. Since bottoming out below $1.15 just under 18 hours ago, the #4 market cap has now recovered to back above $1.50. 😱 Panic sellers should have stopped to notice the massive activity on the… pic.twitter.com/3y0eyGxpo2 — Santiment (@santimentfeed) February 6, 2026 The Santiment data suggests that large holders and active traders moved decisively to accumulate XRP as prices collapsed, a pattern that often precedes short-term price reversals. It is worth noting that the rebound appears to have been driven less by a single XRP-specific catalyst and more by a combination of relief buying and improving sentiment across the digital asset market. As Bitcoin ( BTC ) and other major cryptocurrencies recovered from recent losses, XRP amplified the move, a pattern often seen during volatility-driven snapbacks. XRP price remains fragile While the rapid inflow and strong price reaction suggest confidence is returning after capitulation selling, market conditions remain fragile. In this case, XRP’s price action remains technically weak despite the rebound. The token is trading well below its key moving averages, with the 50-day simple moving average ( SMA ) near $1.92 and the 200-day SMA around $2.42, confirming that XRP remains in a broader bearish trend and has yet to reclaim important resistance levels that would signal a sustained reversal. Momentum indicators paint a more neutral picture in the very short term. The 14-day relative strength index ( RSI ) is around 37.9, placing XRP below the midpoint but not yet in deeply oversold territory. This suggests selling pressure has eased compared with the recent crash, though buying momentum remains cautious rather than decisive. Featured image via Shutterstock The post Over 11 billion flows into XRP in a day after massive crash appeared first on Finbold .

7 Feb 2026, 09:52

Until XRP Breaks $1.8 With Conviction, This Remains Murky Waters

Despite the recent recovery push, XRP still trades within "murky waters" until it rebounds above the pivotal $1.8 mark with conviction. The crypto market suffered a devastating blow on Thursday, Feb. Visit Website

7 Feb 2026, 09:50

Telegram Bitcoin scam targets Indian national

An Indian national has become the latest victim of Bitcoin scammers on Telegram, falling prey to a scam that resulted in a loss of around Rs. 70 lakh ($77,300). The victim, a 50-year-old who works for a private firm, claimed he was lured into a fake Bitcoin investment by a woman he had accidentally met on the messaging platform Telegram. According to the complaint filed by the victim, the first contact between him and the woman was on November 30, 2025. The resident of Kodihalli in east Bengaluru said the woman identified herself as Priya Agarwal and claimed she was attempting to contact a person named Rahul, but instead contacted him. Instead of ignoring the message, the victim pressed on with the conversation. However, unknown to him, he was the actual target, and the woman in question was a scammer who would steal his funds. Indian national loses $77K to Bitcoin scammer on Telegram According to the Indian national, the conversations started briefly, and they exchanged pleasantries at intervals. However, things moved fast, and they started exchanging chats regularly. They later shifted to WhatsApp, with the woman communicating from a +44 number. She told the Indian man that she was based in Liverpool, United Kingdom, and ran a family business. Over time, she started to gain his trust and used the opportunity to introduce him to Bitcoin trading. Priya claimed she has been earning huge profits from her investments in the past four to five years. She also told him to invest and assured him that she would guide his investments and ensure he sees substantial rewards from his investment. The Indian victim sensed no issues with the investment scheme and chose to trust her. She sent him a link, he clicked on it, and it led him to download a trading application that will be used to carry out all his activities. The Indian national said he created an account and made his first investment on December 5, 2025. He sent Rs. 50,000 to his account on the application, sending the funds through a physical account provided by someone who claimed to be a customer care support member of the platform. Encouraged by the profits that came from his first investment, he continued to make more investments. Between December 9, 2025, and January 14, 2026, the man made about eight transactions. Police warn residents about the climbing crime rate According to the victim, the funds were sourced from his personal savings and loans from a bank and finance firm, which he took at Priya’s insistence. On the investment app, his balance soon swelled to Rs. 2.6 crore, which strengthened his belief that the Bitcoin investment scheme was genuine. However, the scam unraveled after he tried to withdraw some of his earnings from the application. He was met with several restrictions and was soon told that his account was frozen. The man said he contacted the customer support and was told to deposit more funds into his account under the pretext of taxes and processing fees, to be able to enable withdrawal. It was then that the Indian national realized that he had fallen prey to an elaborate crypto investment scam. After realizing the scam, the man approached the police and lodged his complaint with the national cybercrime portal. The case was registered under the Information Technology Act and BNS Section 318 (cheating). In its statement, the Indian police said it had released numerous statements in the past to dissuade people from investing in crypto investment schemes that have not been verified. It said that contacting people under the guise of mistakes is one of the ways that these criminals forge relationships with their victims. The Indian police claimed they usually use attractive women and lead their victims on in hopes that they would enter a romantic relationship before they strike. If you're reading this, you’re already ahead. Stay there with our newsletter .

7 Feb 2026, 09:48

Soluna Holdings: Pricing In An Absolute Zero

Summary Soluna Holdings is deeply undervalued, trading near net cash levels despite significant infrastructure and a 2.8 GW development pipeline. The market misprices SLNH as a speculative Bitcoin miner, ignoring its transition to hosting, AI, and high-performance computing infrastructure. Project-level margins are strong, with Project Sophie at 68.4% and Dorothy 1A at 43.6%, supporting positive adjusted EBITDA despite GAAP noise. Key catalysts include Dorothy 2 ramp, Project Kati energization, and AI/HPC contracts; dilution risk remains the primary concern. It is one thing to price a company for a struggle, as the market was doing when Soluna Holdings ( SLNH ) traded around $2 back in December . It is another thing entirely to price it for an immediate, total wipeout. At ~$0.76, we have officially entered the latter phase. The thesis is simple: the market is pricing the company as a distressed, speculative microcap crypto miner and ignoring its successful transition into a cash-rich renewable computing infrastructure platform. With the stock trading not far off its net cash value, I believe the downside is capped, offering a risk-reward profile skewed heavily toward a potential 4x upside as the market wakes up. When I look at the screen today, I see a market cap of roughly $75m . Yet the company’s last balance sheet showed over $51m in cash . Even after subtracting the $23.3m in total debt, you are left with a net cash position of roughly $28m . In my view, the market is saying that the 123 MW of managed data centres, the proprietary Maestro OS software, and the 2.8 GW development pipeline are not only worthless but also a liability . To me, this is like a panicked exit from a messy small-cap ticker as opposed to the efficient market at work. Project Pipeline (Soluna Investor Presentation Jan-26) Infrastructure, Not Just Crypto For those unfamiliar with the name, it is important to understand that Soluna has evolved beyond the typical Bitcoin miner business model. It is now essentially a power-arbitrage infrastructure company. They build modular data centres co-located with renewable energy power plants (mostly wind in Texas) that face the problem of wasted energy that cannot be sold to the grid (curtailment). Soluna buys this stranded power at low costs to run high-density computing tasks. While they started with proprietary Bitcoin mining, they have aggressively pivoted toward a hosting model, i.e. providing the infrastructure for other customers. This derisks their revenue stream from the volatility of Bitcoin prices. This shift is visible in the numbers. In the Q3-25 data, hosting revenue increased to $5.2m, significantly outpacing the $2.7m brought in from proprietary mining. Soluna is now effectively a landlord for high-performance compute, competing less with speculative miners and more with junior data centre infrastructure firms. They are currently managing 123 MW, with the 166 MW Project Kati already through its groundbreaking and under construction . The transition to AI and High Performance Computing [HPC] is the real catalyst. They have already secured an MOU with an HPC partner and have land ready for Kati 2, which is designed specifically for high-density workloads . If they land a firm AI hosting contract, the Bitcoin discount currently suppressing the stock could evaporate overnight. Squinting Through the GAAP Noise Looking only at the $24m net loss reported in Q3, you might want to run for the hills . But that number is a typical example of why GAAP can be misleading for growing companies with complex capital structures. Nearly $22m of that loss was a non-cash fair value adjustment related to warrants . When you strip out one-time professional fees, the compensation catch-ups, and the Preferred B consent fees, the adj. EBITDA (ex. special charges) was actually a positive $58k . However, the project-level performance is where the value is hiding. Project Sophie delivered a 68.4% gross margin in Q3 . Dorothy 1A was at 43.6% . These are the cash-generating engines of the company, but the overall numbers were dragged down by Dorothy 2, which was still in its ramp-up phase. That site is now transitioning to steady-state operations . Paying For The Cash And Getting The Business For Free The math at $0.76 has crossed the line from cheap into absurd. With the stock at this level, we are looking at a market cap of about $75m, with ~$51.3m in cash and equivalents. That's nearly 70% of the company’s entire market valuation backed by cash. If you back out the cash and add in the net debt, you get a total EV of only about $110 million. For that you are getting: 123 MW of active, high-margin hosting and mining operations. A 166 MW project (Kati) that is already under construction. A 2.8 GW development pipeline. Proprietary software (Maestro) that the company claims can optimize power costs in real time. My take is that the market is completely ignoring the forward-looking earnings power here. Management’s own illustrative guide points toward $28m in adj. EBITDA for 2026. Even if you think they are being too optimistic and you cut that number in half to $14m, the stock is trading at a forward EV/EBITDA of just 7.9x. Management Forecast (Investor Presentation Jan-26) If they actually hit those targets? An $110m EV against $28m in EBITDA is a 3.9x multiple. This is a significant valuation gap for a sector where pure-play data centres and AI infrastructure firms often command >18x (see below). Peer Comparison (Seeking Alpha/Finbox) If we assume the company can successfully bring Phase 1 of Kati online and move toward a $40m EBITDA run-rate by 2027 (achievable if they land an HPC partner) and we apply a conservative 10x multiple, we get an EV of $400m. After accounting for the debt and allowing for some further dilution to, say, 140m shares, you get a price target of roughly $2.70 per share. From where I am sitting at $0.76, that is nearly a 4x upside. The risk-reward here is completely skewed in favour of the bulls. You would essentially be buying the operating assets for pennies on the dollar and getting the entire AI/HPC growth story as a free call option. Funding Growth, Not Survival A key concern for Soluna is the dilution trap. Management has been aggressive with their At-The-Market program, raising $20.8m in Q3 alone . However, a closer look at the cash flow statement reveals that the dilution is funding asset growth, not operating losses. In the first 9 months of 2025, the cash flow from operations was just -$3.5m, while $18m was spent on capex to build out Project Dorothy 2 and Kati . With ~$51m in cash on hand and a quarterly operating burn that is flirting with breakeven (adj. EBITDA of $58k in Q3), Soluna has a significant cash runway for its operations. While the dilution effectively caps the per-share upside in the short term, the risk of bankruptcy appears negligible. In my view, the balance sheet is robust enough to weather a crypto winter, meaning that $0.76 is a distressed price for a company that is simply in a heavy build phase. What Moves The Stock The most immediate catalyst is the ramp of Dorothy 2, as Q3 only saw a partial contribution. A clean Q4-25 or Q1-26 print showing Dorothy at full capacity would prove the earnings power of the Texas sites . The second is Project Kati Phase 1 (48 MW) energisation slated for 2026 . If they hit their construction milestones there, it becomes very hard for the market to keep valuing the pipeline at zero. Finally, any firm news on the AI/HPC front at Project Kati 2 or Grace may shift the narrative . The market is currently giving them zero credit for their 2.8 GW pipeline. An AI partnership could put a floor on those megawatts that is significantly higher than the current stock price . As for negative drivers, in addition to the dilution trap noted, there is also the Bitcoin hashprice risk. If mining difficulty continues to skyrocket while Bitcoin stays flat, their hosting customers might struggle to pay the bills . However, this is mitigated by Soluna moving to more stable volumetric (fixed-fee) hosting contracts, which I think is the right move for an infrastructure-first model . The Risk-Reward Is Skewed My belief is that at $0.76, the market is selling off Soluna with the wider market at exactly the time when the operational milestones are actually being hit. You are getting a business that is cash-flow positive at the project level and sitting on a pile of cash for not much more than the value of that cash . This stock is going to continue to be volatile, b ut from what I can tell, the downside is being protected by the balance sheet, while the upside, if they execute on even a fraction of their 2.8 GW pipeline, is massive . I think the market is missing the forest for the trees here.

7 Feb 2026, 09:31

CME Group will launch tokenized cash product with Google Cloud later in 2026 for crypto collateral use

CME Group will launch a tokenized cash product with Google Cloud later in 2026. The product uses Google Cloud Universal Ledger for crypto collateral at CME clearing operations.

7 Feb 2026, 09:25

South Korean Crypto Audit: Authorities Launch Sweeping Probe After Bithumb’s Critical Deposit Incident

BitcoinWorld South Korean Crypto Audit: Authorities Launch Sweeping Probe After Bithumb’s Critical Deposit Incident SEOUL, South Korea – December 2024 – South Korean financial authorities have initiated an unprecedented, nationwide audit of all cryptocurrency exchanges following a significant Bitcoin deposit incident at Bithumb, one of the country’s largest trading platforms. This regulatory action represents a critical turning point for South Korea’s digital asset market, which has experienced rapid growth alongside persistent security concerns. The comprehensive review aims to identify systemic vulnerabilities across the entire exchange ecosystem, potentially reshaping the regulatory landscape for years to come. South Korean Crypto Audit: Understanding the Bithumb Incident According to reports from Newsis, South Korea’s Financial Services Commission (FSC) and Financial Supervisory Service (FSS) formed an emergency response team immediately after discovering the Bithumb deposit error. The incident involved erroneous Bitcoin deposits affecting multiple user accounts, though authorities have not disclosed the exact financial magnitude. Consequently, this event triggered concerns about exchange infrastructure reliability and customer protection mechanisms. The emergency team comprises cybersecurity experts, blockchain analysts, and financial regulators who will coordinate the nationwide audit process. South Korea maintains one of the world’s most active cryptocurrency markets, with daily trading volumes frequently exceeding traditional stock markets. However, the sector has faced multiple security breaches historically, including the infamous 2017 Bithumb hack that resulted in approximately $7 million in losses. Therefore, authorities approach this latest incident with heightened vigilance, recognizing potential systemic implications. The audit will examine technical infrastructure, internal controls, and compliance with existing regulations like the Specific Financial Information Act. Regulatory Framework and Historical Context South Korean cryptocurrency regulation has evolved significantly since the 2017 boom period. Initially, authorities implemented real-name verification systems to prevent money laundering. Subsequently, they established licensing requirements for exchanges through the Specific Financial Information Act. However, this comprehensive audit represents the most extensive regulatory action since those foundational measures. The Financial Intelligence Unit (FIU) will lead examination efforts alongside the FSC and FSS, creating a multi-agency approach to exchange oversight. Comparative Analysis: South Korea’s Regulatory Evolution The table below illustrates key regulatory milestones in South Korea’s cryptocurrency journey: Year Regulatory Action Primary Focus 2017 Real-name verification mandate Anti-money laundering 2020 Specific Financial Information Act Exchange licensing 2021 Travel Rule implementation Transaction monitoring 2023 Virtual Asset User Protection Act Consumer safeguards 2024 Comprehensive exchange audit Systemic security review This regulatory progression demonstrates South Korea’s methodical approach to digital asset oversight. Each phase addresses specific vulnerabilities identified through previous incidents. The current audit focuses particularly on: Deposit and withdrawal mechanisms – Technical validation processes Internal control systems – Error detection and correction protocols Customer protection measures – Compensation and disclosure policies Cybersecurity infrastructure – Prevention of unauthorized access Compliance documentation – Adherence to existing regulations Market Impact and Industry Response The announcement immediately affected South Korea’s cryptocurrency market dynamics. Trading volumes showed increased volatility as investors assessed potential implications. Major exchanges including Upbit, Coinone, and Korbit issued statements affirming their cooperation with authorities. Industry associations like the Korea Blockchain Association emphasized their commitment to security standards. Meanwhile, international observers monitor developments closely, recognizing South Korea’s influence on global regulatory trends. Market analysts identify several potential outcomes from this regulatory action. First, smaller exchanges might face operational challenges meeting enhanced security requirements. Second, institutional investors could gain confidence from strengthened oversight. Third, technological innovation might accelerate as exchanges invest in more robust systems. Fourth, cross-border regulatory alignment could improve through information sharing with international counterparts. Finally, consumer protection mechanisms will likely receive substantial reinforcement. Expert Perspectives on Systemic Security Financial technology experts highlight the technical complexities underlying deposit errors in cryptocurrency exchanges. Professor Kim Jae-hyun of Seoul National University’s Blockchain Research Center explains, “Exchange deposit systems involve multiple validation layers. An error at any stage—blockchain confirmation, internal ledger update, or user interface display—can create discrepancies. Therefore, comprehensive audits must examine the entire transaction lifecycle.” This technical perspective informs the audit’s methodological approach, which will analyze each exchange’s unique architecture. Cybersecurity specialist Park Min-ji adds, “The Bithumb incident reveals potential vulnerabilities beyond malicious hacking. System errors can originate from software bugs, configuration mistakes, or integration failures. Consequently, regulators must evaluate both external threat protection and internal process reliability.” These expert insights guide the audit’s dual focus on cybersecurity and operational integrity, ensuring a thorough examination of exchange ecosystems. Global Regulatory Parallels and Lessons South Korea’s comprehensive audit follows similar regulatory actions in other jurisdictions. Japan’s Financial Services Agency conducted extensive exchange examinations after the 2018 Coincheck hack. Singapore’s Monetary Authority implemented enhanced licensing frameworks following multiple security incidents. The European Union’s Markets in Crypto-Assets (MiCA) regulation establishes standardized oversight across member states. These international examples provide valuable reference points for South Korean authorities developing audit protocols and evaluation criteria. The global regulatory landscape increasingly emphasizes: Proactive supervision rather than reactive responses Technical competency among regulatory staff International cooperation on cross-border issues Risk-based approaches prioritizing systemic concerns Transparent communication with market participants South Korea’s audit incorporates these principles while adapting them to local market characteristics. The emergency response team includes technical specialists capable of evaluating complex blockchain systems. Additionally, authorities coordinate with international regulators through established information-sharing channels. This approach balances immediate response needs with long-term regulatory development objectives. Technical Examination and Compliance Verification The audit process involves multiple phases designed to identify vulnerabilities comprehensively. Initially, authorities will review exchange documentation including security policies, incident response plans, and compliance records. Subsequently, technical teams will conduct on-site examinations of exchange infrastructure. These examinations will test deposit and withdrawal systems under various conditions. Additionally, auditors will evaluate internal controls through simulated error scenarios. Finally, authorities will assess customer service responsiveness and dispute resolution mechanisms. Key technical areas under examination include: Node synchronization – Consistency across blockchain networks Transaction validation – Multi-signature requirements and confirmation thresholds Database integrity – Reconciliation between blockchain and internal ledgers API security – Protection of integration points with external systems Key management – Storage and access controls for cryptographic keys This technical scrutiny represents a significant advancement in regulatory capability. Previously, authorities focused primarily on financial compliance rather than technological infrastructure. The current audit bridges this gap by combining financial oversight with technical evaluation. Consequently, exchanges must demonstrate both regulatory adherence and engineering excellence to satisfy audit requirements. Consumer Protection and Market Confidence Beyond technical considerations, the audit addresses fundamental consumer protection concerns. South Korea’s Virtual Asset User Protection Act, implemented in 2023, establishes basic safeguards for cryptocurrency investors. However, the Bithumb incident revealed potential gaps in operational implementation. The audit will verify exchange compliance with these protection measures, including insurance requirements, reserve fund maintenance, and transparent fee disclosure. Authorities particularly emphasize compensation mechanisms for users affected by technical errors. Market confidence represents another critical audit objective. Cryptocurrency adoption in South Korea has plateaued recently amid security concerns and regulatory uncertainty. A thorough, transparent audit process could restore investor trust by demonstrating rigorous oversight. Historical precedent supports this perspective: Japan’s cryptocurrency market recovered gradually following comprehensive regulatory reforms after the Coincheck incident. Similarly, South Korean authorities aim to strengthen market foundations through systematic examination and remediation. Conclusion The South Korean crypto audit represents a watershed moment for digital asset regulation, triggered by Bithumb’s deposit incident but addressing broader systemic concerns. This comprehensive examination combines technical evaluation with regulatory oversight, reflecting authorities’ growing sophistication in cryptocurrency supervision. The audit’s outcomes will likely influence exchange operations, investor confidence, and international regulatory approaches. As South Korea continues balancing innovation with protection, this proactive regulatory action establishes important precedents for cryptocurrency governance worldwide. The final audit findings, expected in early 2025, will shape South Korea’s digital asset landscape for years to come. FAQs Q1: What triggered the South Korean cryptocurrency exchange audit? The audit was triggered by an erroneous Bitcoin deposit incident at Bithumb, one of South Korea’s largest cryptocurrency exchanges. This technical error revealed potential vulnerabilities in exchange systems, prompting financial authorities to launch a comprehensive review of all trading platforms. Q2: Which South Korean authorities are conducting the audit? The Financial Services Commission (FSC), Financial Supervisory Service (FSS), and Financial Intelligence Unit (FIU) are leading the audit through a specially formed emergency response team. This multi-agency approach combines regulatory, supervisory, and intelligence capabilities. Q3: How will the audit affect cryptocurrency investors in South Korea? Investors may experience temporary market volatility during the audit process. However, the long-term effects should include enhanced security, improved consumer protections, and increased market stability. Exchanges that pass the audit will demonstrate stronger operational reliability. Q4: What technical areas are the audit examining? The audit examines deposit and withdrawal systems, internal controls, cybersecurity infrastructure, node synchronization, transaction validation processes, database integrity, API security, and key management practices across all cryptocurrency exchanges. Q5: How does South Korea’s audit compare to international regulatory approaches? South Korea’s audit follows similar comprehensive examinations in Japan and Singapore while incorporating unique elements like technical infrastructure evaluation. The approach aligns with global trends toward proactive supervision, technical competency, and international cooperation in cryptocurrency regulation. This post South Korean Crypto Audit: Authorities Launch Sweeping Probe After Bithumb’s Critical Deposit Incident first appeared on BitcoinWorld .