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Solana Company starts building high-speed infrastructure to prepare SOL for next ‘super cycle’

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Solana Company (HSDT) said it plans to build a high-speed infrastructure network across the Asia-Pacific region to support the growth of the Solana blockchain and diversify its revenue streams.

The initiative, called the “Pacific Backbone,” will connect Seoul, Tokyo, Singapore and Hong Kong with a low-latency cluster designed to support staking, validation and trading services on Solana.

The move targets institutional demand across the region, which has become a hotspot for crypto adoption, cross-border payments and digital asset development.

The buildout aims to make Solana’s infrastructure more accessible and reliable for market makers, high-frequency traders, and financial institutions, according to a press release.

The company said the project will begin immediately, with performance optimization and additional product launches expected in the next 12 to 18 months. These include DeFi tools, liquid staking, automated market makers and execution services tailored to traditional finance firms entering the space.

Joseph Chee, CEO of Solana Company, said the expansion will help prepare for what he called Solana’s “next super cycle.”

The goal is to reduce reliance on external service providers, reduce latency, and provide a compliant infrastructure that meets institutional requirements in regulated markets.

Solana, the firm said, processes over 3,500 transactions per second and supports millions of daily active wallets. Solana Company is currently the second-largest Solana treasury firm, with 2.3 million SOL, or over $180 million, in its treasury.

Solana Company’s shares are down 13.3% in today’s trading session to $1.76, amid a wider cryptocurrency market drawdown. Solana itself is down nearly 6% in the last 24-hour period, while BTC is down more than 4%.

CoinDesk has reached out to Solana Company for comment but hasn’t heard back at the time of writing.

World Liberty Financial Claims Coordinated Attack on USD1 as Stablecoin Briefly Slips From $1 Peg

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World Liberty Financial said its USD1 stablecoin was targeted in a coordinated attack that included hacked cofounder accounts, paid influencer campaigns, and aggressive short positions — but insisted the effort failed. USD1 Drops to $0.994 Before Recovering Amid Alleged Short Attack World Liberty Financial (WLFI), a crypto protocol tied to members of the Trump family, […]

Bank of Beirut UK Goes Live with Temenos to Scale Corporate Banking and Trade Finance

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Bank of Beirut UK Ltd has officially gone live with Temenos Core Banking and Payments, marking a significant technological transformation aimed at accelerating its corporate banking growth.

The deployment is designed to strengthen the institution’s position as a trusted partner for businesses and correspondent banks operating across the UK, Europe, Africa, and the Middle East.

Replacing legacy systems in 15 months

By migrating to the Temenos Core platform, Bank of Beirut UK can now offer a comprehensive suite of retail, commercial, and deposit services. Crucially, the system is complemented by specialised trade finance capabilities specifically tailored to support businesses navigating global markets.

The implementation and migration from the bank’s legacy infrastructure were completed in just over 15 months. The project was executed in collaboration with LTIMindtree, a designated Temenos Delivery Partner.

Sophoklis Argyrou, CEO of Bank of Beirut UK, highlighted the strategic importance of the upgrade:
“Migrating from a legacy system to Temenos’ modern core banking and payments platform allows us to scale our trade finance business and strengthen our corporate and retail banking proposition. We can now offer a broader portfolio of products and deliver superior customer experiences with greater speed and efficiency.”

Unifying global operations

The successful UK go-live builds upon Temenos’ existing, long-standing relationship with the UK entity’s parent company, Bank of Beirut, which is one of Lebanon’s top banking institutions.

By unifying both its UK and global operations on a single, modern platform, the banking group aims to improve operational efficiency, reduce costs, and accelerate the time-to-market for new financial services.

Mark Yamin-Ali, managing director – Europe at Temenos, commented: “This successful go-live shows Temenos’ unique strength to deliver comprehensive, regionalized solutions on a unified platform, helping banks in multiple markets to innovate and grow. We’re proud to welcome Bank of Beirut UK as a new Temenos client in Europe and to build on our long-standing relationship with Bank of Beirut.”

Hemal Jayasinghe, chief business officer at LTIMindtree, added: “We are proud to partner with Temenos and Bank of Beirut on this strategic transformation in the UK. Our deep expertise and commitment to delivery excellence ensure a smooth and timely go-live, setting a strong foundation for future growth.”

Binance.US eyes deeper banking ties and charter options after SEC lawsuit withdrawal

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Binance.US, the American arm of the global crypto exchange, is pursuing expansion in the US after securities regulators dropped their 2023 lawsuit against the platform, said Binance’s co-founder Changpeng “CZ” Zhao in a recent interview with Bloomberg News.

CZ, who is no longer involved in the day-to-day operations of Binance but remains its largest shareholder, suggested that a more accommodating regulatory environment could open the door to options such as enhanced banking partnerships or securing a financial charter.

However, he indicated that execution would depend on legal and management decisions. The billionaire stressed that his comments applied exclusively to the US-based entity, not international operations.

The US SEC brought suit against Binance entities and CZ in June 2023, leveling 13 charges that included allegations of running an unregistered exchange and offering unregistered securities. Regulators formally dismissed the case with prejudice last May following a shift in regulatory policy and a mutual agreement between the parties.

Under the second Trump administration, authorities have moved to drop several high-profile cases tied to the crypto sector.

With Paul Atkins taking the helm at the US SEC and the launch of a “Crypto Task Force,” the government has abandoned its prior reliance on enforcement actions, opting instead for a structured regulatory framework intended to strike the balance between investor protection and innovation promotion.

The lawsuit prompted Binance.US to suspend dollar deposits and withdrawals, a freeze lasting roughly 18 months that gutted its market position. Trading volume plummeted during that period.

Separately, Binance agreed to pay $4.3 billion in penalties tied to anti-money-laundering violations in late 2023, with CZ pleading guilty to related charges.

After serving a four-month prison sentence, CZ was released in September 2024. He received a presidential pardon in October 2025.

The move ignited speculation about potential business discussions between the Trump family and Binance, raising the prospect of CZ returning to an executive position.

CZ has repeatedly denied any business ties with the Trump family, dismissing speculation around World Liberty Financial, a DeFi venture backed by the two Trump sons.

Despite receiving a presidential pardon, CZ maintains he has no intention of returning as CEO, calling that chapter closed.

BTC slips toward $65,000 amid U.S. stock rout

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Bitcoin’s very modest rebound from its steep overnight selloff quickly fizzled out during U.S. morning trading on Monday as broader risk markets turned sharply lower.

Trading at $65,400 near the noon hour on the east coast, bitcoin was down 35% over the past 24 hours.

The action occurred as U.S. equities tumbled. The S&P 500 and the tech-heavy Nasdaq 100 were each lower by more than 1%, led by renewed weakness in software stocks and private-equity names.

The iShares Expanded Tech-Software ETF (IGV) sank another 5% to a fresh 52-week low and is now down nearly 35% since October amid concerns that generative AI tools could disrupt traditional software business models. Whether true or not, current market thinking is that crypto is just software, and price movements of bitcoin and IGV of late have been nearly perfectly correlated.

Adding to that bearish theme are continuing worries that AI could be leading markets to the cusp of a major negative credit event similar to that of 2008’s global financial crisis. This is currently reflected in private equity share prices. These companies have heavy exposure to the afore-mentioned software sector. Blow Owl Capital (OWL) — which last week sold assets in an attempt to mollify liquidity-seeking investors — is lower by another 3.5% Monday and 32% year-to-date. BlackStone (BX), Ares Management (ARES), and Apollo Global Management (APO) all added to their sizable recent losses, falling between 6% and 8%.

Crypto often trades as a high-beta proxy for tech and broader liquidity conditions, and Monday’s weakness reflected that dynamic. While BTC has so far held above the worst of its early February lows, it still trades in a tight range between $60,000 and $70,000 as risk appetite remains fragile.

Added to all of this is uncertainty about global tariffs after the Supreme Court clamped down on President Trump’s previous use of sweeping levies, Joel Kruger, market strategist at LMAX Group, said in a note.

“This sparked a classic risk-off environment,” Kruger said. “Investors pulled back from speculative assets like crypto, with bitcoin behaving more like a high-beta risk play than ‘digital gold.'”

Bitmine Faces $8.8B Paper Loss, Threatening ‘Cyclical Downturn’ for Ether

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Corporate Ether treasuries are coming under increasing pressure as the crypto downturn deepens, with analysts warning the market is approaching a make-or-break phase for Ether’s investment case.

Bitmine Immersion Technologies, one of the biggest corporate holders of Ether (ETH), is sitting on a large unrealized loss as ETH trades well below the company’s average acquisition price, according to third-party tracker Bitminetracker. Some estimates put Bitmine’s paper losses in the $8.8 billion range after Ether’s slide over recent months.

ETH’s price has fallen 60% during the past six months, dropping well below Bitmine’s average cost basis of $3,843 per token, Bitminetracker data shows.

Crypto research outlet 10x Research said Monday that Ether is now trading near valuation and cost-basis levels that test whether the asset is simply in a cyclical downturn or entering a period of deeper, structural weakness.

 “Investors must therefore assess carefully whether the asset is simply in a cyclical downturn or entering a phase of deeper structural impairment.”

Bitmine continues to buy ETH despite the mounting paper losses. Last week, Bitmine acquired 45,749 Ether at an average aggregate cost basis of $1,992 per ETH, signaling confidence from the world’s largest Ether treasury firm.

Source: 10x Research

Big Wall Street participants are maintaining exposure to Bitmine despite the market downturn.

The top 11 Bitmine shareholders, including Morgan Stanley, Ark Investment Management and asset manager BlackRock, have all increased their exposure to the treasury company during the fourth quarter of 2025.

Bitmine’s stock price has fallen by about 59% over the past six months and traded at $19.68 in the pre-market on Monday, data from Google Finance showed.

Related: Wells Fargo sees ‘YOLO’ trade driving $150B into Bitcoin and risk assets

Corporate Ether holders face mounting losses amid downtrend

Other leading Ether treasury companies have also felt the pressure from the crypto market downturn.

SharpLink Gaming, the second-largest Ether treasury firm, is currently facing a $1.4 billion paper loss, as ETH trades below its average cost basis of $3,609, according to the company’s dashboard.

ShaprLink Gaming, ETH holdings, cost basis and staking rewards. Source: Sharplink

The Ether Machine, the third-largest corporate holder, is nearing $948 million in unrealized losses, as it acquired its 496,712 Ether holdings currently worth $950 million at an average price of $3,788, according to CoinGecko.

Related: Wall Street boosts Bitmine stakes as DeFi lenders buckle on liquidity: Finance Redefined

Smart money shorts ETH for $67 million as whales step up spot investments

The leading crypto traders by returns, tracked as “smart money,” continue betting on Ether’s decline.

Smart money traders added $1.48 million worth of short positions during the past 24 hours and were net short on Ether for $67 million, according to crypto intelligence platform Nansen.

Smart money traders, top traded tokens and net positioning on Hyperliquid exchange. Source: Nansen

Still, whales, or big cryptocurrency investors, have increased their spot Ether accumulation pace by over sixfold during the past week, as this cohort acquired $44 million in spot ETH across 41 wallets, according to Nansen.

Fresh wallets created in the past 15 days have also bought $245 million worth of spot Ether tokens, potentially signaling that new crypto market entrants are net buyers.

Magazine: Sharplink exec shocked by level of BTC and ETH ETF hodling — Joseph Chalom