Playnance, a Web2‑to‑ Web3 gaming infrastructure whose model separates gameplay from value custody, ensuring all balances are secured in audited smart contracts rather than studio servers. Decoupling Gameplay from Value Custody In the rapidly evolving world of Web3 gaming, the term non-custodial is often used as a marketing buzzword. Yet for a platform hosting thousands […]
Ooredoo Fintech Integrates Western Union to Boost Remittance Options in Qatar
Ooredoo Fintech has entered into a strategic partnership with global money transfer giant Western Union, integrating its services directly into the Ooredoo Money app.
The collaboration launches initially in Qatar with plans to expand across other Ooredoo Fintech markets in the region. The move is designed to provide Ooredoo Money customers with a broader range of options for sending and receiving money, enhancing flexibility for users who rely on the platform for remittances.
Expanding financial inclusion
The partnership aligns with Ooredoo Fintech’s broader strategy to drive digital financial inclusion across the Middle East and North Africa (MENA) region. By embedding Western Union’s global network into its app, Ooredoo aims to bridge the gap between digital wallets and global cash or bank transfer networks.
Aziz Fakhroo, chairman of Ooredoo Fintech, commented on the strategic value of the integration: “This partnership reflects our commitment to providing customers with more choice, convenience, and access to essential financial services. By integrating Western Union into the Ooredoo Money app, we are giving users greater freedom in sending and receiving money in Qatar… It’s a key step in delivering the flexible, best-in-class digital financial services our customers deserve.”
A regional rollout plan
While the service is now live for customers in Qatar , both companies have confirmed this is the first phase of a wider regional rollout.
Giovanni Angelini, president, Europe, Middle East, Africa & Asia–Pacific at Western Union, highlighted the shared mission of the two entities: “With Ooredoo Fintech we share the same mission of making the financial services our customers need and deserve more accessible. I am delighted then that today’s announcement will enable Ooredoo customers to connect to their families and loved ones across the world seamlessly… As we launch our partnership in Qatar, one of the Middle East’s main innovation and fintech hubs, I am looking forward to the expansion of the partnership across the region.”
Ooredoo Fintech, a wholly owned subsidiary of Ooredoo Group, was established to build an integrated fintech ecosystem across the MENA region. Western Union’s network spans more than 200 countries and territories, connecting millions of digital wallets and bank accounts globally.
Customers in Qatar can access the new service immediately by downloading the latest version of the Ooredoo Money app.
Top 5 CEXs Hold Firm in 2025 as Bitget Beats Coinbase, CoinGecko Shows
- CoinGecko ranks Binance (39.2%), Bybit (8.1%), MEXC (7.8%), Gate (7.5%), and Crypto.com (7.2%) as the top five CEXs by spot market share in 2025.
- Binance’s (39%) share dwarfed every other venue, while positions 2 through 10 sat in a tight band roughly between 5.5% and 8.1%.
- The study reports $18.7 trillion spot trading volume across the top 10 CEXs in 2025, up 7.6% YoY.
The global pecking order among centralized crypto exchanges held largely steady through 2025. The same five platforms dominated spot-market share even as the battle for the next tier intensified and liquidity continued to concentrate in a handful of platforms.
Binance remained the largest centralized exchange by spot trading volume, accounting for 39.2% of the top-10 market in 2025, according to CoinGecko Research. It was followed by Bybit (8.1%), MEXC (7.8%), Gate (7.5%), and Crypto.com (7.2%)—a top five that, in CoinGecko’s data, stayed firmly in place.
The more notable shift came just below that group. Bitget finished 2025 with a 6.4% market share, edging Coinbase at 6.1%, as exchanges outside the top tier fought for incremental gains that can be self-reinforcing in markets where spreads, depth and execution quality often determine where flow lands.
A tightening race behind Binance
CoinGecko’s ranking—based on spot trading volume from Jan. 1 to Dec. 31, 2025—shows the competitive “pack” behind Binance has become unusually dense, with nine of the top 10 venues clustered between roughly 5% and 10% share.
That compression helps explain why exchanges are leaning harder on product design and market-structure tactics—fee schedules, fast listings, and derivatives-to-spot funnels—to defend engagement. In CoinGecko’s year-end table, Bitget’s rise occurred in a cohort that also included OKX (6.3%), HTX (6.0%) and Upbit (5.5%).
Volumes rose, but the year was uneven
Overall activity expanded in 2025, though it didn’t move in a straight line. CoinGecko estimates the top 10 exchanges generated $18.7 trillion in spot trading volume in 2025, up 7.6% from 2024.
Monthly data from CCData illustrates how quickly volumes could cool even in a broadly higher year. In September 2025, combined spot and derivatives volumes on centralized exchanges fell 17.5% to $8.12 trillion, marking the first decline after three months of increases.
Bitget’s growth pitch: multi-asset “one screen”
Bitget’s statement around the ranking leaned on two claims: a sharp year-over-year expansion and a strategic shift toward a broader trading offering.
CoinGecko’s report shows Bitget’s 2025 spot trading volume rose 45.5% year over year, second only to MEXC’s 90.9% jump among the top 10.
“We’re proud to see Bitget’s continued growth reflected in CoinGecko’s report,” Bitget CEO, Gracy Chen, said in statement shared with AlexaBlockchain.
“The trust community has placed in us is attributed to the security we’ve built over the years, holding one of the largest market shares in crypto means we build to scale and with UEX we see this come into real life,” she added.
Bitget also highlighted a “Universal Exchange” strategy—framing recent efforts as a move to keep traders inside a crypto-native interface while they express macro views through instruments tied to commodities, indices, FX and metals, alongside crypto spot and derivatives.
Why Coinbase is still in the mix—despite slipping to No. 8
Coinbase’s position in CoinGecko’s 2025 spot market-share table—No. 8 at 6.1%—doesn’t necessarily translate into weakness in its core U.S. franchise, where regulatory posture and institutional relationships are central differentiators.
Coinbase continues to benefit from its status as the only publicly traded U.S. crypto exchange. From a U.S. policy environment that was seen as becoming more favorable to the sector—while competition also intensified as other firms explored public listings.
In practice, Coinbase is often competing on a different axis than offshore-heavy derivatives leaders: perceived compliance, custody and institutional access versus aggressive fee and leverage-driven growth.
The real engine: derivatives dominance keeps growing
The spot market-share table is only part of the story. Across the industry, derivatives—especially perpetual futures—continued to dominate crypto trading in 2025, shaping the incentives and revenue mix for the largest venues.
CoinGecko’s 2025 annual industry report estimates that perpetual futures trading volume on centralized exchanges rose 47.4% in 2025 to $86.2 trillion, a record.
That derivatives-heavy structure tends to reward exchanges that can offer deep liquidity, robust risk systems, and capital-efficient margining—features that can spill over into spot-share gains as active traders consolidate activity on fewer platforms.
A convergence trade: tokenization and “24/7 markets”
Bitget’s emphasis on tokenized stock futures and multi-asset access fits a broader trend: crypto venues and traditional market operators are both moving toward round-the-clock, on-chain or quasi-on-chain market access.
Intercontinental Exchange (ICE), the NYSE owner, is developing a platform for 24/7 trading and on-chain settlement of tokenized securities, citing demand for around-the-clock access to U.S. equities. Separately, TD Securities has argued that perpetual-futures style instruments could become a key building block for tokenized equities, given crypto’s established 24/7 derivatives rails.
That convergence matters for centralized exchanges because it suggests the next leg of competition may be about workflow ownership: who becomes the default venue where traders manage crypto exposure, macro hedges and tokenized representations of traditional assets.
The article “Top 5 CEXs Hold Firm in 2025 as Bitget Beats Coinbase, CoinGecko Shows” was first published on AlexaBlockchain. Read the complete article here: https://alexablockchain.com/top-5-cexs-hold-firm-in-2025-bitget-beats-coinbase/
Read Also: Fear, Liquidations, Fed Reset: Why Bitcoin Is Stuck Near $78K
Disclaimer: The information provided on AlexaBlockchain is for informational purposes only and does not constitute financial advice. Read complete disclaimer here.
Image Credits: Shutterstock, Canva, Wiki Commons
Vietnam Draft Rules Propose 0.1% Tax on Crypto Transfers
Vietnam is preparing to introduce a tax framework for cryptocurrency transactions that would align digital assets with securities trading, according to a draft policy circulated by the Ministry of Finance.
Under the proposal, individuals transferring crypto assets through licensed service providers would face a 0.1% personal income tax on the value of each transaction, local outlet The Hanoi Times reported. The structure mirrors the levy currently applied to stock trades in the country.
According to the report, the draft circular, released for public consultation, classifies crypto transfers and trading as exempt from value-added tax. However, the turnover-based tax would apply to investors regardless of residency status whenever a transfer is executed.
Companies operating in Vietnam would be taxed differently. Institutional investors earning income from crypto transfers would be subject to a 20% corporate income tax, calculated on profits after deducting purchase costs and related expenses, per the report.
Related: No companies apply for Vietnam crypto pilot amid high barriers
Vietnam formally defines crypto assets
Authorities also reportedly provided a formal definition of crypto assets, describing them as digital assets that rely on cryptographic or similar technologies for issuance, storage and transfer verification.
The draft also outlines strict requirements for operators. Firms seeking to run a digital asset exchange would need at least 10 trillion Vietnamese dong (about $408 million) in charter capital, a threshold higher than that required for commercial banks and far above capital standards in many other industries. Foreign ownership would be permitted but capped at 49% of an exchange’s equity.
The proposed rules come as Vietnam began a five-year pilot program for a regulated crypto asset market launched in September 2025. On Oct. 6, 2025, Vietnam’s Ministry of Finance confirmed that no companies had applied to participate in the five-year crypto pilot at that time, citing high capital requirements and strict eligibility conditions.
Related: Vietnam central bank expects credit growth amid rapid crypto adoption
Vietnam opens licensing for crypto exchanges
Last month, Vietnam started accepting applications for licenses to operate digital asset trading platforms, marking the operational launch of its planned pilot program for a regulated crypto market.
“Applications for the aforementioned administrative procedures will be accepted beginning January 20, 2026,” the State Securities Commission of Vietnam (SSC) said, framing the move as part of a broader effort to bring crypto under formal regulatory oversight.
Magazine: Bitget’s Gracy Chen is looking for ‘entrepreneurs, not wantrepreneurs’
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy
Crypto market rebounds after BTC price tumbles to 2024 low: Crypto Markets Today
Thursday’s selloff was one of the sharpest and most devastating in crypto market history: More than $2.6 billion was liquidated as bitcoin tumbled to $60,000 to mark its lowest point since October 2024.
The drawdown led to bitcoin being the third most “oversold” in its history, according to the relative strength index (RSI), a momentum oscillator that tracks market conditions. Oversold conditions of this magnitude historically precede a major bounce.
The situation grew a bit brighter as Asia woke up, with bitcoin bouncing from $60,000 to above $65,000 while ether came off a low of $1,750 to trade back at $1,920.
Even so, the broader crypto market remains in a bear market. Privacy coin zcash has lost 34% of its value over the past week, while optimism , solana and ether are all dealing with losses of around 30%.
Traditional markets have also struggled in recent days. The Nasdaq 100 index dropped 6% since Jan. 28, and precious metals gold and silver are down by 12% and 38%, respectively, over the same period.
Derivatives positioning
- The crypto futures market is worth less than $100 billion for the first time since March 2025, as traders continue to reduce risk as prices slide and liquidations cause wealth destruction.
- Over $2.6 billion in leveraged futures bets have been liquidated, or forced closed, by exchanges due to margin shortage in 24 hours. Out of that, over $2.10 billion were long bets. This shows the degree of bullish leverage that was deployed around the pivotal $70,000 support, which was breached Thursday.
- Open interest (OI) has declined in futures tied to all major tokens, including recent outperformer HYPE.
- Annualized perpetual funding rates for major tokens such as BTC, SOL, XRP and DOGE have flipped negative as price crashes triggered demand for bearish bets. The negative rates could see arbitrageurs resort to reverse cash and carry bets.
- Bitcoin’s annualized 30-day implied volatility surged to nearly 100% late Thursday as traders scrambled to buy puts, with some snapping up these bearish bets at strike prices as low as $20,000. Since then, volatility has pulled back to under 70%. A similar pattern is seen in ether’s implied volatility.
- Still, bitcoin and ether short-term put options continue to trade at a volatility premium of 20 or more points to calls, a sign of lingering downside worries. Puts remain pricier at the long end as well.
- Options tied to BlackRock’s IBIT ETF saw record activity Thursday, with traders rushing to buy puts. The one-year skew rose to over 25 points, reflecting a massive premium for put options, indicating peak fear.
Token talk
- The altcoin sector presented a couple of unlikely winners despite the broader market decline on Thursday. Privacy-focused decred rose by 31% in 24 hours, seemingly unperturbed by the carnage as it added to a rally that has lifted it from $17.4 to $24.2.
- HyperLiquid’s HYPE token continues to perform well, relatively speaking, as it remains up 11% this week despite falling 4% in the past 24 hours.
- XRP was one of the most volatile altcoins, plunging by more than 30% before bouncing by 21%. Trading volume topped $14 billion, a 143% rise over 24 hours.
- The CoinDesk 20 (CD20) and CoinDesk 80 (CD80) both fell by around 6% in the past 24 hours, but the concerning corner of the market was DeFi, with the DeFi Select Index (DFX) underperforming the wider market with a decline of more than 10%.
- CoinMarketCap’s “altcoin season” indicator is now at 24/100, down from Wednesday’s high of 32/100, suggesting investors are seeking safer, less volatile assets like bitcoin or stablecoins.
Ether’s crash leaves $686 million gaping hole in trading firm’s book
An ether bull was caught leaning hard into the upside this week as the cryptocurrency tanked, turning the whale bet into a multi-million dollar horror story.
That bull is Trend Research, a trading firm headed by Liquid Capital founder Jack Yi. The firm spent recent months building a bullish (long) bet worth $2 billion on ether by borrowing stablecoins from DeFi giant Aave, which were reportedly collateralized by ether.
The position blew up this week, leaving the firm with a $686 million loss, according to Arkham.
The blow up underscores the crypto market’s unchanged reality: Volatility can still make or break traders in a single week. It also shows how traders keep chasing risky leveraged loop plays – borrowing stablecoins against ETH collateral – despite these bets exploding spectacularly every downtrend.
How it went down
The team was convinced of ether’s long-term potential and expected a quick rebound from its October drop below $4,000.
But that never materialized – ether kept sliding, endangering their “looped ether” long position. As prices fell, the stablecoin collateral backing the leveraged bet shrank, while the fixed debt loomed large in classic leveraged fashion.
The final blow came this month as ether started falling rapidly with bitcoin and on Feb. 4 prices tanked to $1,750, the weakest level since April 2025. Trend Research responded by liquidating over 300,000 ether, according to data source Bubble Maps.
“Trend Research started sending large amounts of ETH to Binance to repay debt on AAVE In total, this cluster moved 332k ETH worth $700M to Binance over 5 days,” Bubble Maps said on X. The firm now holds just 1.463 ETH.
Jack Yi described these sales as a risk-control measure.
“As multi-heads in this round, we remain optimistic about the performance of the new bull market: ETH reaching over $10,000, BTC exceeding $200,000 USD. We’re just making some adjustments to control risk, with no change in our expectations for the future mega bull market,” Yi said in a post on X.
He added that now is the best time to buy tokens, calling volatility as the biggest feature of the crypto circle. “Historically, countless bulls have been shaken off by this volatility, but often what follows is a doubled rebound,” he noted.
Figure Partners with moomoo and Keplr to Expand Global Access to the On-chain Public Equity Network (OPEN)
WHY THIS MATTERS:
Public equity markets are increasingly being questioned for their reliance on legacy infrastructure that prioritises intermediaries over efficiency. Batch settlement, restricted trading hours and complex custody chains add cost and friction that feel increasingly out of step with a digital-first investment world. Blockchain-native equity issuance represents a structural rethink—one that treats equities as programmable, continuously settling assets rather than static securities. By bridging regulated broker access with self-custody wallets, this model challenges the assumption that investors must choose between compliance and control. As capital markets explore faster settlement cycles and broader access, the convergence of traditional brokerage, on-chain registries and DeFi marks a significant step toward modernising how public equities are issued, traded and financed globally.
Figure is expanding investor access to the On-Chain Public Equity Network (OPEN) through new integrations with moomoo and Keplr, extending the distribution of blockchain-native public equities across both regulated brokerage platforms and self-custody wallets. OPEN allows companies to issue their equity native on blockchain and enables investors worldwide to invest in U.S. public equities while accessing decentralized finance (DeFi) for borrowing against and lending out stock.
Moomoo is the first retail brokerage to integrate with OPEN, enabling investors to trade equities registered on OPEN through a regulated trading platform. Additionally, as equities join OPEN Keplr will enable direct, self-custodied ownership of OPEN-issued equities, making it the first third-party self-custodied wallet to integrate with OPEN.
“We are thrilled to bring the blockchain revolution to moomoo customers and broaden access to more diversified investment strategies,” said Neil McDonald, CEO of moomoo. “This is a natural evolution of our tech-first strategy and we are excited to offer our customers access to Figure’s Democratized Prime for stock borrow and lend, delivering greater flexibility to participate in institutional-grade opportunities.”
Together with the Figure Markets app, these integrations demonstrate how public equities can trade and settle natively on blockchain while remaining accessible through both brokerage and self-custody models. Figure plans on offering its own stock – the first on OPEN – in the coming weeks.
Modernizing public equity market infrastructure
Traditional public equity markets rely on centralized clearing, custodial intermediation, and batch settlement cycles that introduce cost, delay, and operational complexity. OPEN replaces this structure with a blockchain-native registry and real-time settlement framework, enabling T+0 settlement, 24-hour trading and access to DeFi.
By supporting self-settlement on a regulated Alternative Trading System (ATS), OPEN streamlines post-trade processes while remaining aligned with existing securities regulations. This architecture also allows equities issued on OPEN to be accessed across multiple platforms while maintaining a single source of truth for ownership and settlement.
“Replacing broker-gated market access with self-custody wallets is a huge step for the blockchain ecosystem,” said Josh Lee, of Keplr. “We are excited to be spearheading this innovation.”
With over $22 billion in loans originated on public blockchain, Figure has established a track record of modernizing traditional financial markets by using blockchain infrastructure. OPEN extends this approach to public equities.
Expanding access while preserving market integrity
As additional platforms integrate with OPEN, public equities move closer to operating as continuously settling, digitally native instruments rather than assets constrained by legacy infrastructure.
“We are thrilled at how both moomoo and Keplr are democratizing access to the public equity market,” said Mike Cagney, Figure’s co-founder and Chairman. “We see this as the beginning of an entirely new public equity capital market.”
WHY THIS MATTERS:
Public equity markets are increasingly being questioned for their reliance on legacy infrastructure that prioritises intermediaries over efficiency. Batch settlement, restricted trading hours and complex custody chains add cost and friction that feel increasingly out of step with a digital-first investment world. Blockchain-native equity issuance represents a structural rethink—one that treats equities as programmable, continuously settling assets rather than static securities. By bridging regulated broker access with self-custody wallets, this model challenges the assumption that investors must choose between compliance and control. As capital markets explore faster settlement cycles and broader access, the convergence of traditional brokerage, on-chain registries and DeFi marks a significant step toward modernising how public equities are issued, traded and financed globally.
Google Search Volume For ‘Bitcoin’ Surges Amid $60K Plunge
Google search volume for the term “Bitcoin” surged over the past week as the asset’s price briefly fell to the $60,000 level for the first time since October 2024.
Google Trends provisional data shows worldwide searches for “Bitcoin” reached a score of 100 for the week starting Feb. 1, the highest level in the past 12 months.
The previous peak was a score of 95 in the week of Nov. 16–23, when Bitcoin (BTC) slipped below the psychological $100,000 level for the first time in nearly six months.
Google search interest is one of several commonly used indicators among crypto analysts to gauge retail interest in Bitcoin and the broader crypto market, which typically spikes during significant price moves, particularly major rallies to new all-time highs or sudden sell-offs.
The increase comes as Bitcoin dropped from about $81,500 on Feb. 1 to roughly $60,000 within five days, before rebounding to $70,740 at the time of publication, according to CoinMarketCap.
Some market observers suggest the current price range may be drawing renewed attention from a broader retail audience. Bitwise head of Europe, André Dragosch, said in an X post on Saturday, “Retail is coming back.”
Meanwhile, CryptoQuant’s head of research, Julio Moreno, said in an X post on Saturday that US investors are buying Bitcoin after it reached $60,000. “The Coinbase premium is now positive for the first time since mid-January,” Moreno said.
Other indicators suggest that investors are still cautious about the crypto market. The Alternative.me Crypto Fear & Greed Index fell further down once again on Saturday to an “Extreme Fear” score of 6, nearing levels that haven’t been seen since June 2022.
Related: Crypto’s stress test hits balance sheets as Bitcoin, Ether collapse
The sentiment indicator’s decline to such low levels has led some market participants to suggest it could signal a buying opportunity.
Crypto analyst Ran Neuner said in an X post on Friday that, “every single metric is telling you that Bitcoin has never been more undervalued on a relative basis.”
Magazine: Bitcoin’s ‘biggest bull catalyst’ would be Saylor’s liquidation: Santiment founder
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy
Bitrue Expands XRP Infrastructure as 10 New RLUSD Pairs Go Live
XRP momentum is accelerating as Bitrue deepens integration, rolls out new RLUSD trading pairs, and doubles down on positioning traders for a potential market recovery, reinforcing XRP’s role as a core growth asset in crypto markets. Bitrue Expands XRP and RLUSD Strategy as Adoption Optimism Builds Growing optimism around XRP adoption gained momentum as crypto […]
Ripple (XRP) Surges 20.1% as All Assets Trade Higher
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.
The CoinDesk 20 is currently trading at 1944.26, up 6.7% (+121.31) since 4 p.m. ET on Thursday.
All 20 assets are trading higher.
Leaders: XRP (+20.1%) and HBAR (+13.1%).
Laggards: AAVE (+1.9%) and BNB (+3.0%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.