Bitcoin Hodl Waves Update

On February 18, California’s Department of Financial Protection and Innovation (DFPI) released an update on implementing the Digital Financial Asset Law (DFAL), explicitly requiring all individuals or companies offering cryptocurrency-related services to California residents to either hold a DFAL license, submit an application, or meet exemption criteria by July 1, 2026—failing which they face enforcement action. Signed into law by Governor Gavin Newsom in October 2023, DFAL establishes a statewide licensing and regulatory framework for cryptocurrencies, covering various digital asset services and crypto ATM operations. It has been widely compared to New York’s 2015 BitLicense regime. License applications will open March 9, 2026, via the Nationwide Multistate Licensing System (NMLS). Regulators advise businesses to review the pre-application checklist in advance and join the industry training session scheduled for March 23. California is home to roughly a quarter of all blockc

Feb. 18 — Italy’s largest bank Intesa Sanpaolo SpA said it held bitcoin spot ETFs valued at roughly $96 million as of the end of last year, expanding its exposure to cryptocurrency assets. Per its 13-F filing with the U.S. Securities and Exchange Commission (SEC), the lender holds 5 spot bitcoin ETF positions: ~$72.6 million in the ARK 21Shares Bitcoin ETF and ~$23.4 million in the iShares Bitcoin Trust.

February 18th — Coinglass data shows a Bitcoin drop below $66,000 would trigger cumulative long liquidation intensity of $957 million across major centralized exchanges (CEXs). Conversely, a breakout above $70,000 would lead to cumulative short liquidation intensity of $989 million for those same CEXs. **BlockBeats Note**: Liquidation charts do not display the exact number or value of contracts set to be liquidated. Instead, the bars represent the relative importance of each liquidation cluster compared to adjacent clusters — i.e., "intensity." This means the charts illustrate how significantly the underlying asset’s price will be impacted when it hits a specific level. Higher "liquidation bars" signal a more intense market reaction due to a liquidity cascade when the price reaches that threshold.

February 18th, Nimbus Capital revealed a $15 million strategic partnership with Chimera Wallet—a non-custodial wallet leveraging Bitcoin’s VTXO technology. The collaboration aims to expand decentralized finance (DeFi) capabilities within the Bitcoin ecosystem and advance programmable financial tools on the Bitcoin network. Both parties note the partnership will merge Bitcoin’s underlying security with Arkade layer’s Bitcoin-native programmability. This will deliver DeFi services like asset exchange, lending, liquidity provision, fiat onramps, and payment integrations—all while letting users retain full self-custody of their assets. Chimera Founder & Director Claudio Levrini said the alliance combines financial expertise with Bitcoin infrastructure development to boost Bitcoin’s real-world use cases, all while safeguarding self-custody. Nimbus Capital Managing Partner Robert Baker added this move will drive deeper Bitcoin integration across institutional and decentralized spaces.

February 18 — Binance CEO Changpeng Zhao (CZ) stated that BNB has delivered a cumulative return of 5,354x over the eight-plus years since Binance launched. Many users have earned significant profits in the Binance and BNB ecosystem, emerging as the core foundational force of the community. CZ specifically thanked “Binance Angels” — longtime volunteer contributors who’ve stayed involved for 5 to 8+ years, quietly supporting the community without pay. He emphasized Binance embraces the “Prosperity for All” business philosophy and adheres to reciprocity in competition and collaboration: “You treat me well, I treat you well.” Binance doesn’t actively seek trouble, but isn’t afraid of challenges. Noting industry players come and go, CZ said Binance will stand the test of time, using game theory to adapt to market shifts in a relatively stable landscape. Additionally, CZ pointed out Binance is committed to building a platform users can trust, but users still need to do their own res

On February 18, Phantom—the cryptocurrency wallet—announced the launch of its MCP Server. The server supports AI agent exchanges, signing, and management of all on-chain addresses compatible with Phantom, and can also integrate with Claude, OpenClaw, or any MCP-compatible client.