GM, Crypto Briefers!

Bitcoin failed at $70K again and drifted back toward $65K as February heads toward a rare red close. The range that has defined the month remains intact, and momentum continues to stall below key resistance. Despite strong ETF inflows this week, price action remains muted.

At the same time, corporate headlines are picking up. Block cut nearly 40% of its workforce as it pivots toward an AI-first model, sending shares up 25%. And across the Atlantic, Barclays is exploring its own blockchain-based payments platform, signaling that institutional infrastructure buildout is far from slowing.

Bitcoin falls back to $66K as February risks historic red close

Bitcoin retreated to $66K after failing to hold above the $70K resistance level on Wednesday. The asset remains trapped in its February range, with no decisive breakout or breakdown. If BTC closes the month in the red, it will mark only the fourth negative February in the past 13 years, despite February historically being a strong month.

March does not offer much comfort either, having closed red in seven of the last 13 years. That cautious tone spilled into majors as ETH fell to $1,950, SOL dropped to $82.5, and XRP slid to $1.36, dragging the broader crypto market down 2.2% to $2.28 trillion.

Not all flows are negative. Bitcoin ETFs have seen over $1 billion in inflows this week against roughly $200 million in outflows, pending Friday’s final data. Ethereum ETFs are also net positive with $173 million in inflows versus $49.5 million in outflows.

Markets

_{Data powered by CoinGecko.}

Block cuts 40% of workforce on AI-driven restructuring despite record profitability

Block announced it is cutting nearly 4,000 jobs as CEO Jack Dorsey restructures the company to become smaller, flatter, and AI-first. The move follows a full internal review and comes roughly one year after the company cut 900 roles. Despite the layoffs, Block reported nearly $2 billion in Bitcoin revenue in its latest quarter, accounting for almost a third of total revenue.

Shares closed near $54.5 on Thursday before surging roughly 25% in after-hours trading. The stock remained elevated on Friday, giving back a small portion of the move but still holding solid gains from the earnings-driven rally.

Barclays explores blockchain platform for payments, targets partner selection by April

Barclays is exploring building a blockchain platform for payments and tokenized deposits. The bank is evaluating technology providers and could select partners as early as April. The initiative may include stablecoin integration and tokenized deposit capabilities, reflecting a broader institutional shift toward digital asset infrastructure.

The British lender has increasingly moved from cautious observation to active investment. It joined a bank consortium last year to explore reserve-backed digital currencies pegged to G7 assets and recently invested in Ubyx, a clearing system for tokenized deposits and regulated stablecoins.

Gloria AI Wire

OpenAI lands $110B mega-round at $730B valuation, reshaping AI infrastructure landscape

OpenAI has secured a stunning $110B funding round from Amazon, Nvidia, and SoftBank, one of the largest private capital raises ever, at a staggering $730B pre-money valuation. The 143% jump from its March 2025 valuation signals unbridled institutional appetite for AI infrastructure at any price point, even as the broader tech market faces macro headwinds.

The capital will fund a sprawling compute infrastructure build, with commitments including 2GW of AWS Tranium capacity, 3GW of Nvidia inference chips, and 2GW of training on Vera Rubin systems.

On Our Radar

TRON DAO advances stablecoin dialogue at digital assets at Duke Conference

UK regulator weighs crypto as payment option for gamblers

SBI Holdings, Startale Group to issue first trust-based yen stablecoin JPYSC under Japan’s framework

Meme of the Day

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Until next time.

Estéfano

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