The digital asset market is navigating a period of significant structural and regulatory shifts as of February 20, 2026. Recent developments include a sharp decline in the valuation of a major mining firm, substantial movements of XRP into private custody, and a public exchange between industry leaders and United States lawmakers regarding the financial independence of the cryptocurrency sector.
Bitdeer Technologies Shares Drop 17% Following $300 Million Debt Offering
Bitdeer Technologies Group (NASDAQ: BTDR), a Singapore-based provider of data center and Bitcoin mining infrastructure, saw its share price decline by 17% following the announcement of a private placement of $300 million in convertible senior notes. The offering, aimed at institutional investors, is intended to fund the expansion of the company’s data center operations and the development of its proprietary mining hardware.
Market analysts suggest the sharp sell-off reflects investor concerns regarding potential equity dilution and the increasing cost of debt in the current economic environment. Bitdeer, led by founder Jihan Wu, has been aggressively expanding its global footprint, but the capital raise comes at a time when mining margins are under pressure due to fluctuating network difficulty and energy costs. Details regarding the specific interest rates and conversion terms of the notes have not been fully disclosed to the public, though the company confirmed the proceeds would be used for general corporate purposes. According to reports from MENAFN – Crypto Breaking, the slump in share price highlights the sensitivity of mining stocks to capital structure changes.
XRP Exchange Reserves Fall as 200 Million Tokens Move to Private Custody
On-chain data indicates a significant shift in XRP holdings, with approximately 200 million tokens recently moved from centralized exchanges to private wallets. This movement, often referred to as an “exodus” from exchanges, typically suggests a transition from short-term speculation to long-term holding or “accumulation” by large-scale investors.
Despite this trend of declining exchange reserves, XRP continues to face persistent selling pressure and relatively weak demand in the spot markets. Sentiment remains cautious as the market monitors the broader regulatory landscape for Ripple-associated assets. While the reduction in exchange supply can theoretically reduce immediate liquid selling pressure, it has yet to translate into a sustained upward price trend. As reported by NewsBTC, the current market outlook for XRP is characterized by a balance between large-holder accumulation and a lack of broader retail momentum.
Changpeng Zhao Responds to Senator Warren Regarding Crypto Bailouts
Binance co-founder Changpeng “CZ” Zhao has publicly addressed comments made by U.S. Senator Elizabeth Warren concerning the potential for federal intervention in the cryptocurrency market. In a letter addressed to the Federal Reserve and the U.S. Treasury, Senator Warren advocated for a strict “no-rescue” policy, naming Zhao and other industry figures as examples of why the sector should not receive government support during financial distress.
Responding via the social media platform X, Zhao stated that “crypto never needed a bailout, never will.” He emphasized that the fundamental principles of decentralized finance are built on market-driven outcomes rather than the centralized safety nets common in traditional banking. The exchange highlights the ongoing friction between U.S. regulators and international crypto entities. Senator Warren has been a consistent critic of the industry, frequently citing concerns over consumer protection and financial stability. The details of this interaction were documented by MENAFN – News.
Peter Schiff Issues Warning of Potential Bitcoin Decline to $20,000
Financial commentator and noted cryptocurrency critic Peter Schiff has issued a new warning to Bitcoin investors, suggesting the asset could see a decline to the $20,000 level. Schiff’s projection would represent an approximate 85% decrease from Bitcoin’s reported peak of over $126,000 reached in October 2025.
Schiff dismissed technical analysis arguments that suggest support levels might prevent such a drop, urging investors to exit their positions. He has long maintained that Bitcoin lacks intrinsic value compared to traditional assets like gold. While Bitcoin has seen significant growth over the past year, Schiff argues that the current market structure is vulnerable to a sharp correction. According to MENAFN – News, Schiff’s comments come amid a period of heightened volatility for the leading digital currency.
US Treasury Secretary Scott Bessent Discusses Stablecoins and Hong Kong Markets
During a recent testimony before the Senate Banking Committee, U.S. Treasury Secretary Scott Bessent addressed the evolving role of stablecoins and their impact on global financial markets, specifically in relation to China and Hong Kong. Bessent was questioned on whether China might utilize stablecoins or gold to circumvent traditional financial systems or to bolster its market position.
The discussion centered on the reality of Hong Kong’s market and its role as a bridge for digital asset liquidity. Bessent’s remarks suggest that the U.S. Treasury is closely monitoring the integration of stablecoins into international trade and the potential for these assets to influence the dominance of the U.S. dollar. The testimony underscores the increasing geopolitical importance of digital asset policy. Further analysis of these remarks was provided by MENAFN – Asia Times.
Market Summary
The current state of the cryptocurrency industry is defined by a convergence of institutional financing challenges, as seen with Bitdeer, and ongoing ideological debates between regulators and industry pioneers. While on-chain data for assets like XRP suggests a shift toward private custody, the warnings from critics like Peter Schiff and the policy discussions led by Secretary Bessent indicate that the sector remains under intense scrutiny from both financial and political sectors.
Join our Telegram Channel