Today's Cryptocurrency News (February 28) | Israel conducts airstrikes on Iran; Bitcoin drops below $64,000
This article summarizes cryptocurrency news as of February 28, 2026, focusing on the latest Bitcoin updates, Ethereum upgrades, Dogecoin trends, real-time crypto prices, and price forecasts. Major Web3 events today include:
According to FT, U.S. President Trump stated Saturday that the U.S. and Israel launched a “large-scale and ongoing operation” against Iran this morning. Multiple reports indicate intense explosions across Tehran, with smoke rising from the area housing the Presidential Palace, and the situation has become tense.
Trump said the military action aims to prevent Iran from threatening U.S. and core national security interests, vowing to “destroy their missile capabilities” and level the missile industry. He also referenced last June’s U.S. strike on Iran’s nuclear facilities, emphasizing multiple attempts at negotiations that went unanswered. Trump publicly called on members of the Islamic Revolutionary Guard Corps to “lay down their weapons” and promised “full immunity,” warning that otherwise they will face certain death.
Israel’s Defense Minister Israel Katz stated this was a “preemptive strike” aimed at “eliminating threats.” Israel has declared a state of emergency, closed its airspace, restricted nationwide gatherings, and warned of possible retaliation via Iranian missiles and drones.
Iranian officials: Tehran is preparing retaliatory measures, and the response will be destructive. Multiple sectors in southern Tehran have become targets. Following the attack, OPEC+ is considering increasing production.
A forecast report by Citrini released this week has caused market turbulence. The scenario painted is quite pessimistic: if AI technology becomes highly advanced, many white-collar jobs could be replaced, consumer spending would decline, dragging down the overall economy. Analysts believe that if the economy weakens, the Fed may intervene through rate cuts or expanding monetary supply.
Kaiko analyst Laurens Fraussen noted that markets often view Bitcoin as a hedge against currency devaluation, supporting its price when liquidity expectations rise. In this context, Bitcoin and stablecoins have become focal points after the report’s release.
The report also highlights that as “agent” programs become widespread, software that autonomously executes tasks will need low-cost, instant settlement payment methods. It suggests that stablecoins on Solana or Ethereum layer-2 networks, with low fees and quick transfers, could serve as infrastructure for AI agent trading. Some investors have already positioned themselves, causing traditional payment company stocks to dip temporarily.
Stripe co-founder John Collison said that the combination of stablecoins and AI could spark a new wave of agent economy, emphasizing blockchain’s role in payment systems. Stablecoin supply surged to $300 billion in 2025 but slowed in 2026, indicating a market shift toward fundamentals and sustainability.
Meanwhile, Bitcoin recently rebounded from $62,900 to around $66,000 amid U.S. geopolitical and trade tensions but still faces short-term downward pressure. Industry insiders suggest that if speculative enthusiasm wanes and funds return to infrastructure, Bitcoin’s long-term value and stablecoin applications could become key market re-evaluation factors.
Despite lingering market lows, risk capital invested about $883 million in crypto startups in February. Data from DefiLlama shows this is about 13% less than the same period in 2025, when the bull market saw funding exceed $1 billion. Funds are still flowing, but investment logic has become more cautious.
Andrei Grachev, managing partner at DWF Labs, said investors now focus more on actual revenue, user growth, and sustainability in bear markets, rather than just concepts. He noted that in 2026, VC focus is on stablecoins, payment infrastructure, AI agents, and institutional compliance and fund management tools—these foundational layers are prioritized before large-scale institutional capital enters.
Specific cases include Andre Cronje’s Flying Tulip, which raised $206 million via token sales for integrated DeFi architecture and native stablecoin ftUSD, with structured down-side protection. Tether invested $200 million in Whop to expand stablecoin self-custody payments and global creator economy. U.S. digital bank Anchorage Digital completed $100 million in equity funding to strengthen compliant stablecoin issuance and institutional custody.
Data indicates that in 2026, investors prefer projects with real cash flow, compliance frameworks, and stablecoin payment scenarios, marking a shift from narrative-driven to fundamentals and sustainable development.
Following the US-Israel airstrikes on Iran, global risk sentiment surged, causing Bitcoin to fall below $64,000, dropping about 3% within hours to a recent low not seen since the February 5 flash crash. Earlier in February, Bitcoin briefly dipped below $60,000, triggering significant volatility.
Israel’s Defense Minister Israel Katz declared a nationwide state of emergency, and a U.S. official confirmed U.S. involvement. The Middle East situation has sharply escalated, adding pressure on already stressed risk assets during weekend trading. Since stock and bond markets are closed on weekends, Bitcoin’s 24/7 liquidity makes it a primary outlet for quick risk hedging.
Market structure shows Bitcoin often reacts first to geopolitical shocks. When traditional markets cannot respond immediately, some institutions and quant funds adjust risk exposure via crypto assets, amplifying short-term swings. Under this escalation, Bitcoin again exhibits “pre-price” features.
It’s notable that the U.S. has already deployed military assets in the region for weeks, and negotiations over Iran’s nuclear program recently broke down. If tensions worsen, oil prices, the dollar index, and global stock futures could react, further increasing crypto volatility.
Technically, $64,000 is a key support; a break below could test $60,000. Short-term price movements will heavily depend on Middle East developments, safe-haven flows, and macro policy expectations. For investors tracking Bitcoin’s latest moves, geopolitical impacts, and weekend trading risks, careful risk management is crucial.
Elon Musk’s SpaceX plans to secretly submit an IPO registration with the U.S. SEC as early as March, aiming to go public by June. If successful, the company’s valuation could approach $1.75 trillion, potentially setting a record for the largest IPO ever.
Sources say the IPO could raise about $50 billion, surpassing Saudi Aramco’s 2019 record of $290 billion. Previously, SpaceX’s private market valuation was below $1 trillion; after acquiring xAI in February, it neared $1.25 trillion, with market expectations rising to $1.5 trillion, and latest forecasts now pointing to $1.75 trillion.
If realized, SpaceX’s valuation would rival tech giants like NVIDIA, Apple, Microsoft, Alphabet, and Amazon, even surpassing Meta and Tesla.
The company has engaged Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley as advisors. Funds will be used to increase Starship launch frequency, expand Starlink, and explore orbital AI data centers and lunar bases.
With Falcon 9’s advantages in launch market and Starlink’s global user base, SpaceX continues to attract investor interest. Topics like “SpaceX IPO timeline” and “Is $1.75 trillion valuation reasonable?” are hot in investment circles.
UK gambling regulators are evaluating the feasibility of allowing consumers to use cryptocurrencies for betting. UK Gambling Commission Executive Director Tim Miller said at an industry conference that regulators want to explore “the compliant use of cryptocurrencies on regulated betting platforms” to ensure funds are secure, anti-money laundering measures are maintained, and consumer protections are upheld.
This aligns with the FCA’s push for digital asset regulation. The plan is to finalize crypto rules within 2026, with full implementation targeted for late 2027. Topics like “UK crypto payment compliance” and “Are crypto assets legal for online betting?” are gaining attention.
Miller has asked industry forums to develop a feasible licensing mechanism that encourages innovation while meeting licensing and prudential standards. If clear, licensed operators could offer direct crypto betting. Regulators believe channeling betting into legal avenues can reduce illegal sites and increase transparency.
This move could make the UK a pioneer in integrating crypto into traditional gambling. Success depends on effective KYC, funds tracing, and consumer risk protocols. If regulatory frameworks proceed smoothly, the UK may lead major economies in crypto-licensed betting.
Precious metals prices continue rising. Gold up over 1% today, nearly 8% since mid-February, approaching $5,250, aiming for a seventh consecutive month of gains. Rising geopolitical tensions between the US and Iran have rekindled safe-haven demand, boosting gold. In late January, gold hit a near-record $5,600 amid regional tensions, then retreated to around $4,400 in early February, a drop of over 21%.
Silver performed even stronger, up over 6% to around $94, with a 28% increase since mid-February, hitting monthly highs. Spot platinum rose 3.5% to $2,352 per ounce, palladium edged up to $1,785, both on track for monthly positive returns. Market questions include “Will gold continue its seven-month rally?” and “How much room is left for silver rebound?”
In contrast, digital assets and equities remain volatile. Bitcoin, after falling below $60,000, now fluctuates between $65,000 and $70,000, recently around $65,500, down 2.8% intraday. Weakening risk assets make “gold and Bitcoin diverge” a key discussion point.
U.S. stocks also under pressure. S&P 500 down 0.8%, Nasdaq down 1.1%, tech giants retreat. NVIDIA, despite earnings beating expectations, has fallen about 9% since Wednesday, dropping below $180. Meta, Amazon, Alphabet also weak, amid concerns over AI-related capital expenditure, expected to exceed $770 billion by 2026.
Under the dual influence of “geopolitical risk boosting gold” and “tech stock correction dragging US equities,” funds are favoring defensive assets. Whether precious metals can sustain strength depends on shifts in risk appetite and global developments.
On February 26, bipartisan lawmakers introduced the “Promoting Innovation in Blockchain Development Act,” aiming to clarify legal responsibilities for blockchain developers and prevent open-source code authors from being misclassified as remittance providers. Led by Scott Fitzgerald, Ben Cline, and Zoe Lofgren, the bill proposes amending U.S. Code Section 1960, focusing criminal liability on custodians controlling customer assets or executing transfers on behalf of users.
The bill addresses debates over “whether open-source developers bear remittance licensing responsibilities” and “legal risks for non-custodial blockchain developers,” seeking to provide clear exemptions for code-only entities. The recent lawsuit against Tornado Cash has amplified concerns over “code as crime.” Cline noted that regulatory expansion has blurred lines between bad actors and tech innovators; Fitzgerald emphasized that innovators should not face undue enforcement for infrastructure development.
Industry groups like Solana Institute and Blockchain Association support the bill, believing it will help establish clear boundaries between “open-source developers and custodial financial intermediaries.” Washington is also discussing the CLARITY Act and GENUIS Act. The former, passed in the House in 2025, has slowed; the latter, focusing on stablecoin regulation, does not expand developer liability.
Analysis suggests that if enacted, the “Blockchain Innovation Act” could reshape U.S. crypto regulation and set standards for developer compliance. Ongoing lobbying and precise wording of amendments will likely influence U.S. crypto policy directions in 2026.
NFT platform Magic Eden announced it will close its Ethereum Virtual Machine (EVM) trading platform and Bitcoin Runes and Ordinals services on March 9, and will cease Bitcoin API support on March 27. Multi-chain wallets will switch to export-only mode before full shutdown on April 1. The company will continue supporting Solana assets, marking an official exit from the “main battlefield” of Bitcoin Ordinals trading.
Having entered the Bitcoin ecosystem in March 2023, Magic Eden quickly captured over half of Ordinals trading volume, peaking at about 80% market share for Bitcoin Ordinals and Runes, with native Bitcoin assets contributing roughly 70% of total volume. The decision to “close Bitcoin NFT and EVM trading” is seen as a major strategic pivot.
Jack Lu confirmed on social media that the company will streamline its product lineup, focusing on Solana and Packs, while expanding its crypto casino and sports betting platform Dicey, aiming at “Solana-based iGaming development.” He revealed that about 80% of operational costs previously went to segments generating only 20% of revenue, prompting resource reallocation.
Dicey remains in closed beta with around 200 users, but has seen over $15 million in bets in two months. Management believes that integrating finance and entertainment is the next growth driver. Future plans include making $ME tokens core assets of Magic Eden and Dicey ecosystems, halting NFT buybacks, and redirecting resources toward tokenomics and product updates.
Founded in 2021 as a Solana NFT platform, Magic Eden quickly became a leading ecosystem player. It raised $157 million in total funding, with a $1.6 billion valuation after a $130 million Series B in 2022.
Amid cooling multi-chain NFT enthusiasm, “NFT platform shifts to crypto gambling and token trading” signals a new industry trend. Magic Eden’s strategic shift indicates a move from cross-chain digital collectibles to Solana infrastructure and on-chain entertainment. Future performance hinges on iGaming regulation progress and Solana ecosystem activity.
Gold prices continue climbing, with spot gold up 0.9% to $5,232.21 per ounce, nearing historic highs and on track for a seventh straight month of gains; April futures are at $5,253.20, up 1.2% daily. Since February, gold has gained 6.5%, with a 58% increase over seven months, making “2026 gold price outlook” a key market focus.
Main reasons for the rally include two major variables: first, rising uncertainty over U.S. tariffs; second, unresolved negotiations between the U.S. and Iran over Tehran’s nuclear program. The U.S. has imposed 10% tariffs globally, with some countries facing up to 15%. Meanwhile, indirect talks between the U.S. and Iran in Geneva have made progress but risks remain. Analysts Sonny Kumari and Linh Tran note that policy and geopolitical risks support gold’s safe-haven appeal, though escalation is not yet imminent.
Interest rates also support gold. The U.S. 10-year Treasury yield has fallen to a three-month low, reducing opportunity costs for holding non-yielding assets. The impact of Fed rate cuts in 2026 is a key variable; markets expect 2-3 cuts this year. Historical data shows that a rate cut leads to an average 6.53% rise in gold over 12 months, potentially adding about 13% in extra returns if the trend continues.
Long-term, Bernstein raised its gold forecast, projecting a $4,800 target in 2026 and up to $6,100 by 2030. Analyst Bob Brackett explained that the forecast considers central bank net gold purchases, ETF flows, and U.S. monetary policy paths. Although central bank gold buying slowed in 2025, it remains above pre-2022 levels; 95% of central banks expect to increase gold reserves over the next year. Since mid-2024, ETF holdings have surged, amplifying volatility.
In stocks, Newmont was upgraded by Bernstein to “outperform,” with a target of $157, and EBITDA estimates increased 26% to $21.9 billion, with shares up 2.33% today.
Other precious metals also rose: spot silver at $92.20, platinum at $2,393.80 (four-week high), and palladium higher. The outlook remains bullish amid evolving tariffs, geopolitical risks, and monetary policy.
YZi Labs issued a statement claiming that recent filings suggest 10X Capital Asset Management LLC and affiliates may have held over 5% of CEA Industries’ common stock by the end of 2025 but have not filed the required Schedule 13D with the SEC.
YZi Labs pointed out that based on warrant exercise data, approximately 2.376 million warrants have been exercised, representing about 5.39% of issued shares. Since YZi Labs did not exercise these warrants, it infers the shares mainly come from 10X affiliates.
The statement also notes that 10X and director Hans Thomas have not publicly disclosed their holdings or filed relevant disclosures. YZi urges clarification and whether there is a “related group” under Section 13(d)(3) of the Securities Exchange Act.
Sam Altman announced on X that OpenAI has reached an agreement with the U.S. Department of Defense to deploy its AI models on classified U.S. networks. Altman said the DoD has shown high regard for AI safety and aims to achieve optimal application through cooperation.
He emphasized that AI safety and inclusivity are core to OpenAI’s mission. The company’s two key safety principles—prohibiting large-scale domestic surveillance and ensuring human responsibility for force—have been recognized by the DoD and incorporated into legal and policy frameworks. These principles are part of the formal agreement.
To ensure safe operation, OpenAI will deploy Functional Defense Equipment (FDE) and run only on cloud networks. Both sides plan to develop technical safeguards to prevent misuse or abnormal behavior. Altman called on the U.S. military to offer similar terms to all AI firms, stressing fairness and shared responsibility.
This partnership marks the U.S. government’s official use of cutting-edge AI in sensitive networks and highlights the importance of AI safety and ethics in military applications. Altman said OpenAI will continue to develop AI for the benefit of humanity while promoting responsible tech in complex, risky environments.
The collaboration has attracted broad industry attention, seen as a potential new path for AI in defense and critical infrastructure, and has sparked debate over autonomous weapons safety and human decision-making responsibility.
According to Cointelegraph, Morgan Stanley has applied to the OCC for a national trust bank license to establish “Morgan Stanley Digital Trust” to support custody, trading, and staking of digital assets for clients.
This move is part of the bank’s recent accelerated crypto strategy, following previous applications for Bitcoin, Ethereum, and Solana ETFs.
Ethereum founder Vitalik Buterin discussed the roadmap for Ethereum scaling, proposing a two-phase approach: short-term and long-term. The short-term phase relies on the upcoming Glamsterdam upgrade, which will enable parallel validation via on-chain access lists, extend block validation windows with ePBS, and introduce Gas re-pricing to measure actual operation costs, along with multi-dimensional Gas to differentiate resource consumption and prevent state bloat.
During Glamsterdam, “state creation costs” will be separated, allowing state creation Gas to be excluded from the normal Gas cap, supporting larger contract creation. EVM will maintain compatibility through a “reservoir” mechanism, ensuring sub-calls and Gas operations function normally. Future plans include transitioning to multi-dimensional Gas pricing for long-term sustainability, while maintaining flexibility.
Long-term, focus shifts to ZK-EVM and blobs. Blobs aim to reach 8MB/s data availability via iterative PeerDAS, allowing block data to be directly stored in blobs without full download verification. ZK-EVM will be rolled out in phases, starting with 5% network usage in 2026, expanding in 2027, and eventually transitioning to a “3-of-5” multi-proof system, enabling nodes to verify without re-execution, ensuring security and ultra-high Gas limits.
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