Welcome to Kaupr Today

Good morning. Crypto markets are drifting into a “has it bottomed?” phase. Bitcoin is grinding sideways around 67,000 dollars, as macro data, Fed expectations and extreme sentiment signals collide. Stablecoins and USDC are moving deeper into real‑world flows, from Deel’s cross‑border payrolls to Stripe’s AI‑native payments on Base. In parallel, new institutional rails like LayerZero’s Zero chain, BlackRock’s BUIDL in DeFi and Sygnum’s tokenized BTC‑backed credit are wiring Bitcoin and blockchains into core market infrastructure. Against this backdrop, the Satoshi Speech in Oslo casts Bitcoin less as a speculative asset and more as emerging monetary infrastructure for a multipolar financial system.

Have a good read,
Morten

Have crypto markets finally found a bottom?

Bitcoin trades muted near $67,000 after strong U.S. jobs data

Bitcoin traded largely unchanged around 67,000 dollars in Asian hours on Thursday after stronger‑than‑expected U.S. jobs data reduced expectations for near‑term Federal Reserve interest rate cuts, keeping the token capped below the 70,000‑dollar level in thin liquidity. Nonfarm payrolls and unemployment figures pointed to a still‑resilient labour market, leading traders to scale back bets on an early rate cut while turning their focus to upcoming weekly jobless claims and Friday’s U.S. CPI report for further clues on inflation and the Fed’s policy path. Altcoins were modestly higher in range‑bound trade, with ether up about 1.1% near 1,973 dollars and other major tokens such as XRP, Cardano and Polygon also ticking higher.

Why it matters: Bitcoin’s sideways trade below 70,000 dollars underlines how macro data and “higher for longer” rate expectations continue to dominate crypto pricing, with this week’s U.S. labour and inflation releases likely to set the tone for risk appetite across digital assets.

Source: Bitcoin price today: muted near $67k after strong US jobs data; CPI awaited, Investing.com

Tom Lee says stop timing the bottom and start buying the dip

Fundstrat’s Thomas Lee told attendees at Consensus Hong Kong 2026 that investors should stop trying to precisely time a market bottom and instead start looking for entry points, arguing that crypto is in a “mini winter” after bitcoin’s roughly 50% drawdown from its October highs. Bitcoin has slipped back below 67,000 dollars after a sharp bounce from last week’s lows, while ether is down around 3% near 1,950 dollars, with Lee suggesting recent weakness is tied to volatility in metals and that bitcoin is likely to outperform gold through 2026.

Why it matters: Lee’s call frames the current selloff as an opportunity rather than the start of a prolonged bear market, reinforcing the narrative that forced liquidations and cross‑asset volatility can set up attractive long‑term entry points in bitcoin and ether.​

Source: Tom Lee says stop timing the bottom and start buying the dip, CoinDesk

K33 point to rare cluster of signals suggesting bitcoin has bottomed

In a February 10 note, analysts argue that bitcoin may have put in a cyclical bottom after a rare clustering of extreme indicators, including the sixth‑lowest daily RSI print ever (and the weakest since March 12, 2020), deeply negative funding rates last seen in March 2023, and a fear and greed index at its second‑lowest reading on record, signalling extreme fear. They also highlight heavily defensive options positioning with skew at its highest level since the FTX collapse in November 2022 and back‑to‑back outlier spot volume days, with a combined 32 billion dollars in two‑day volume marking the fourth‑highest such stretch ever. The authors conclude that these outlier signals taken together point toward a likely bottom and expect stagnant consolidation between 60,000 and 75,000 dollars to follow.

Why it matters: If this cluster of panic‑like signals indeed marks a bottom, it suggests bitcoin could be transitioning from forced‑selling volatility into a consolidation phase, offering a more stable base for the next leg of institutional and retail positioning.

Source: Ahead of the Curve – February 10, 2026, K33 Research

Stablecoin salaries and AI‑native payment

Deel and MoonPay team up to offer stablecoin salaries

Global payroll platform Deel has partnered with MoonPay to enable salary payouts in stablecoins, integrating MoonPay’s stablecoin conversion and payout infrastructure so workers can receive their earnings directly into non‑custodial crypto wallets instead of traditional bank accounts. The rollout will start next month for workers in the UK and EU before expanding to the US, giving Deel’s globally distributed workforce faster, lower‑friction cross‑border payouts and more flexibility in how they access and hold their income.

Why it matters: The partnership shows how stablecoins are moving from trading use cases into mainstream payroll, using crypto rails to modernise cross‑border salaries and expand payment options for remote workers worldwide.
Source: Deel Partners with MoonPay to Enable Stablecoin Salary Payouts for Global Workers, PR Newswire

Stripe to support USDC payments on Base via AI-native payments

Stripe is rolling out support for USDC payments over Coinbase’s x402 protocol on the Base network, allowing developers to charge both humans and AI agents for API calls, content access and tool usage with on-chain stablecoin transactions that settle directly into their Stripe balances alongside traditional payments. The integration uses unique deposit addresses and PaymentIntents so agents can pay invoices autonomously in USDC on Base, with Stripe exposing status via its API and dashboard and planning future expansion to more protocols, chains and payment methods.

Why it matters: The move bridges mainstream fintech rails and crypto-native infrastructure, positioning USDC on Base and x402 as a standard way for AI agents and APIs to transact autonomously while keeping reconciliation and payouts inside familiar Stripe workflows.

Source: Stripe to Support Base Chain USDC Payments via x402, CoinLaw

Building a new financial infrastructure

LayerZero launches Zero blockchain with Citadel, DTCC and ICE

LayerZero Labs has announced Zero, a new high‑performance blockchain that uses a heterogeneous architecture and advances in compute, storage, networking and zero‑knowledge proofs to target up to 2 million transactions per second per zone, near‑zero fees and effectively unlimited blockspace. The launch includes collaborations with Citadel Securities, DTCC, Google Cloud and Intercontinental Exchange, with Citadel Securities making a strategic investment in ZRO, while DTCC explores using Zero for its tokenization and collateral app chains and ICE evaluates applications for 24/7 trading, clearing and tokenized collateral.

Why it matters: The project signals that core market‑structure players are now actively testing purpose‑built blockchain infrastructure for trading, clearing, settlement and collateral, potentially accelerating tokenization and on‑chain capital markets at institutional scale.

Source: LayerZero Announces Zero Blockchain to Build Global Market Infrastructure In Collaboration with Citadel Securities, The Depository Trust & Clearing Corporation, Intercontinental Exchange; With Strategic Investment in ZRO from Citadel Securities, Business Wire

BlackRock takes first major DeFi step by bringing BUIDL to Uniswap

Fortune reports that BlackRock is working with Uniswap Labs and Securitize to make shares of its BlackRock USD Institutional Digital Liquidity Fund (BUIDL) tradable via UniswapX, allowing whitelisted investors to swap between BUIDL and USDC on Ethereum and other supported chains with near‑instant on‑chain liquidity. As part of the integration, BlackRock has also made a strategic investment in the Uniswap ecosystem, deepening its involvement in tokenized treasuries and positioning BUIDL alongside stablecoins at the core of an emerging on‑chain money market.

Why it matters: The move marks one of the clearest signals yet that the world’s largest asset manager is willing to plug tokenized real‑world assets directly into DeFi infrastructure, accelerating the convergence of traditional capital markets, stablecoins and decentralized exchanges.

Source: BlackRock takes its first major step into DeFi with Uniswap deal, Fortune

Sygnum tokenizes part of $50M bitcoin-backed loan

Swiss crypto bank Sygnum has arranged a USD 50 million bitcoin‑backed syndicated loan for digital asset lender Ledn, with a portion of the facility tokenized via Sygnum’s end‑to‑end issuance platform to create on‑chain private credit instruments for institutional and qualified investors. The deal, which was reportedly around 2x oversubscribed, refinances an earlier BTC‑backed loan, strengthens the Sygnum–Ledn financing relationship, and offers investors fully collateralized, bitcoin‑secured exposure with strict margin and liquidation terms managed by the bank.

Why it matters: This transaction shows how regulated crypto banks are turning bitcoin into institutional‑grade collateral for tokenized private credit, expanding yield‑bearing products for investors while deepening the role of BTC in structured finance. BitcoinCom

Source: Swiss Crypto Bank Sygnum Tokenizes Portion of $50M BTC‑Backed Loan for Ledn, BitcoinCom

Nordic crypto ETPs and VC funding

Danske Bank opens for retail customers to trade crypto ETPs

Danske Bank now allows retail customers to gain exposure to bitcoin and ethereum through a small selection of crypto exchange‑traded products (ETPs) directly in its online and mobile trading platforms, marking the bank’s first move into offering listed crypto investment products to self‑directed clients. The products, issued by major international asset managers and covered by MiFID II rules, are subject to suitability checks so that only customers who pass an appropriateness test can trade these high‑risk instruments.

Why it matters: The move brings crypto exposure into Danske Bank’s mainstream retail channels via regulated ETPs, signalling a cautious but important step in Nordic banks integrating digital assets into standard investment offerings.

Source: Danske Bank opens for retail customers to trade crypto ETPs, Kaupr

Skyfall Ventures announces Fund III for early-stage Nordic tech

Skyfall Ventures has announced Skyfall Fund III, continuing its strategy of backing Nordic tech startups that aim to define or reshape their categories in areas such as AI, climate tech, blockchain, robotics and cybersecurity. The new fund builds on Skyfall’s track record since 2014 of investing in “fearless founders” and supporting companies from seed stage through high‑growth scaling.

Why it matters: The launch of Skyfall Fund III adds fresh early‑stage capital for Nordic founders working on transformative technologies, strengthening the region’s startup funding environment and deepening support for next‑generation AI, climate and Web3 companies.

Source: 💥 Announcing Skyfall Fund III 💥 Since 2014 ..., LinkedIn

Highlights from Satoshi speech in Oslo

Bitcoin from store of value to monetary infrastructure

At the Satoshi Nakamoto Annual Speech in Oslo, Sygnum Bank’s Thomas Eichenberger described how Bitcoin has evolved from a digital collectible into a genuine monetary phenomenon, arguing it now sits between a store of value and a medium of exchange. He outlined the classical properties of money, highlighting Bitcoin’s strength in scarcity, durability and immutability while pointing to broad acceptability through adoption as the key remaining factor, and said banks typically integrate Bitcoin in five stages — custody, brokerage, lending, transfers and yield — showing institutional adoption as a gradual build‑out of infrastructure rather than a single event. Eichenberger concluded that in a multipolar world, Bitcoin could act as a neutral settlement layer between financial systems, framing the open question of whether we are seeing the financialisation of Bitcoin or the Bitcoinisation of finance.

Why it matters: Eichenberger’s address underscores a shift in how institutions and policymakers frame Bitcoin — less as speculative risk asset and more as emerging monetary infrastructure that could underpin future cross‑border settlement and financial architecture.

Source: Read summaries of the Annual Speech from Kaupr, LinkedIn feed

What to watch for

Watch how the “mini winter vs. full winter” debate in bitcoin plays out, especially as institutional ETFs, macro policy shifts and on‑chain data start to either validate a cyclical reset or a longer, grinding downturn.

Why it matters: The way this tension resolves will shape everything from stablecoin and tokenization flows to how far crypto can progress from speculative cycles into durable, institutional‑grade market infrastructure over the next few years

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Best regards
Morten Myrstad
Founder & Editor