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Feb 12, 2026
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LONG
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"Corporates are much more willing... moving from traditional fiat channel to stablecoins... if you use fiat channel for crossborder correspondence takes two to three days very expensive... crypto stable coins it's instantaneous at a fraction of the cost." The "killer app" for crypto isn't just speculation; it's corporate treasury management. As corporations replace SWIFT with stablecoins to increase capital velocity, the market cap of stablecoin issuers and the protocols they run on will expand. This is a direct siphon of volume away from traditional banking correspondence networks. LONG. Strict US stablecoin legislation (e.g., Clarity Act) that favors only specific issuers or bans algorithmic variants. |
CoinDesk
The $300M Move: Richard Teng on Tokenizing Wa...
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Feb 12, 2026
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LONG
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"Binance teaming up with Franklin Templeton to use tokenized money market funds as off exchange collateral... allows users to hold Benji tokens... use that as collateral trade on the best exchange." This is a zero-to-one moment for Real World Assets (RWA). Previously, tokenized treasuries were just for yield. Now, they have *utility* as collateral in deep liquidity pools. This increases the total addressable market (TAM) for issuers like Franklin Templeton (BEN) and validates the RWA infrastructure thesis, as capital efficiency improves for traders who no longer need to sit in idle cash. LONG. Regulatory crackdown on off-exchange settlement structures or smart contract risk in the tokenization layer. |
CoinDesk
The $300M Move: Richard Teng on Tokenizing Wa...
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Feb 12, 2026
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LONG
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"We started offering precious metals perpetual contracts... in a short span of one month the volume just skyrocketed... because for precious metals the information come in at night during the weekend and you need to be able to hedge." Traditional commodity markets (COMEX/LBMA) are archaic because they close. In a volatile geopolitical environment, risk happens 24/7. There is massive pent-up demand for tokenized or crypto-derivative exposure to hard assets that can be traded instantly when news breaks on a Sunday. This drives volume to crypto-native commodity derivatives. LONG. Decoupling of "paper gold" (derivatives) prices from physical spot prices during extreme volatility. |
CoinDesk
The $300M Move: Richard Teng on Tokenizing Wa...
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Feb 12, 2026
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LONG
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"If you look at institutional holding of bitcoin it stays relatively constant right and they actually added more so about 1.3 million bitcoin holdings and then in January they added another 43,000 bitcoin." Retail investors are currently "muted" and chasing "hot stories," while institutions are quietly buying the supply. When "Smart Money" accumulates during a lull in retail activity, it typically creates a supply shock once retail interest returns. The floor price is being raised by sticky institutional capital. LONG. Macroeconomic liquidity shocks forcing institutions to liquidate risk assets. |
CoinDesk
The $300M Move: Richard Teng on Tokenizing Wa...
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Feb 12, 2026
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LONG
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Despite retail volatility and liquidation events, institutions added 43,000 BTC to portfolios in January. Total institutional holding is ~1.3M BTC. The "crash" narrative is driven by retail panic and leverage flushes (liquidations), but the "smart money" (institutions) is buying the dip. This divergence usually signals a local bottom. LONG Bitcoin following institutional flows. Regulatory crackdowns or a broader macro liquidity freeze strengthening the USD. |
Bloomberg Markets
China's Zhipu Jolts AI Race as 'Scare Trade' ...
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