Crypto markets spent February 2026 under pressure as prices declined and fear reached extreme levels. Strategy continued buying Bitcoin despite falling treasury valuations, Gemini announced a major restructuring, and the Solana ecosystem expanded its financial infrastructure and tokenized asset markets. Here are the month's main developments, with confirmed facts separated from market estimates.

Bitcoin declined while Strategy kept accumulating BTC

Bitcoin remained under pressure through the end of February. According to historical trading data, BTC closed February 28 near $67,000. The market saw sharp bouts of panic after Bitcoin fell toward $62,000–$63,000 earlier in the month. On February 24, the Crypto Fear & Greed Index fell to 5 out of 100. Such a low reading reflects extreme anxiety, but does not guarantee an imminent price recovery.

Michael Saylor's Strategy continued its Bitcoin accumulation program. According to its February 23 SEC filing, the company bought another 592 BTC for approximately $39.8 million between February 17 and 22. As of February 22, it held 717,722 BTC purchased for a combined $54.56 billion, or an average of $76,020 per coin.

Strategy's paper losses: why the figures changed

When Bitcoin traded below $76,000, Strategy's reserves were worth less than their acquisition cost. In early February, The Block estimated unrealized losses of more than $9.2 billion. However, that was a snapshot at a particular BTC price, not a fixed month-end result. Every change in market prices altered both the dollar value and percentage of the paper loss. Treating a 16.8% drawdown and a $9.2 billion loss as permanent monthly figures would therefore be misleading.

An unrealized loss is not the same as cash lost from selling BTC: it measures the gap between current market value and historical purchase cost. Lower prices nevertheless carry risks for Strategy shareholders, its share valuation and the terms under which the company can raise additional capital. Strategy continued buying during the sell-off.

Gemini announced a 25% workforce reduction and exits from key markets

On February 5, the Winklevoss brothers' cryptocurrency exchange Gemini disclosed a restructuring plan in an SEC filing involving up to 200 employees, or about 25% of its workforce. At the same time, Gemini said it would wind down operations in the United Kingdom, the European Union and Australia. The plan was expected to be substantially completed during the first half of 2026, leaving operations in the United States and Singapore.

In a statement to users and investors, Gemini's founders pointed to the cost and complexity of operating internationally, and a desire for a leaner organization. They also emphasized AI-enabled efficiency and prediction markets. This was an announced commercial restructuring, not a company bankruptcy filing.

Three Gemini executives departed on February 17

Less than two weeks later, Gemini confirmed the departures of Chief Financial Officer Dan Chen, Chief Operating Officer Marshall Beard and Chief Legal Officer Tyler Meade. All three departures took effect on February 17 and were documented in a regulatory filing. The company named interim leaders for finance and legal affairs, while saying it did not intend to appoint a new COO.

On February 22, reports emerged of additional layoffs beyond the previously announced 25%. These reports cited Bloomberg and people familiar with the matter. The exact number of additional job cuts was not disclosed in those reports, so adding an unverified figure to the original 200 would be inappropriate.

Firedancer reached Solana mainnet before February

Some coverage connected February to Firedancer's launch and a throughput of one million transactions per second. In fact, the full Firedancer validator client went live on Solana mainnet on December 12, 2025. Built by Jump Crypto, it is an independent validator software implementation intended to improve client diversity and network resilience.

Throughput figures above one million TPS came from Firedancer performance demonstrations under test conditions, not actual end-user transaction throughput on Solana mainnet in February. It would therefore be inaccurate to say the network first achieved a million production TPS that month.

Solana's tokenized assets and RWA market continued growing

The ecosystem nevertheless continued developing in February. In the Solana Foundation's retrospective report, the network's real-world asset (RWA) market capitalization reached approximately $1.71 billion by month-end, up 45% over the previous 30 days. The foundation also highlighted Citigroup's tokenized trade-finance experiments and continued growth in institutional financial applications.

Tokenized exposure to NVIDIA, Tesla and other US stocks was not new in February: xStocks began rolling out tokenized equities in June 2025. On January 21, 2026, Ondo Global Markets expanded to Solana with more than 200 tokenized stocks and ETFs. February represented further sector growth, not the first appearance of these assets. Legal rights, liquidity and geographic eligibility differ between products.

What the $8 million Solana ETF inflow actually measured

On February 10, US-listed spot Solana funds recorded about $8.43 million in net inflows in a single trading day. That was their strongest day in nearly a month, not the total flow for all of February. The Solana Foundation's monthly review also noted that cumulative net inflows into US-listed Solana ETFs had exceeded $900 million since launch. Positive daily flows indicate selective investor interest, not a wholesale shift of institutional money into SOL.

Implications for affiliate marketing and crypto payments

February illustrated the different pressures on crypto businesses. Falling BTC prices affect corporate treasuries and liquidity, Gemini's international withdrawal changes service availability across jurisdictions, and Solana's RWA expansion broadens the infrastructure for financial products. Affiliate networks and media buyers should verify their payment providers' operational status, withdrawal conditions, actual network capacity and the legal restrictions attached to tokenized assets.

Crypto markets spent February 2026 under pressure as prices declined and fear reached extreme levels. Strategy continued buying Bitcoin despite falling treasury valuations, Gemini announced a major restructuring, and the Solana ecosystem expanded its financial infrastructure and tokenized asset markets. Here are the month's main developments, with confirmed facts separated from market estimates.

Bitcoin declined while Strategy kept accumulating BTC

Bitcoin remained under pressure through the end of February. According to historical trading data, BTC closed February 28 near $67,000. The market saw sharp bouts of panic after Bitcoin fell toward $62,000–$63,000 earlier in the month. On February 24, the Crypto Fear & Greed Index fell to 5 out of 100. Such a low reading reflects extreme anxiety, but does not guarantee an imminent price recovery.

Michael Saylor's Strategy continued its Bitcoin accumulation program. According to its February 23 SEC filing, the company bought another 592 BTC for approximately $39.8 million between February 17 and 22. As of February 22, it held 717,722 BTC purchased for a combined $54.56 billion, or an average of $76,020 per coin.

Strategy's paper losses: why the figures changed

When Bitcoin traded below $76,000, Strategy's reserves were worth less than their acquisition cost. In early February, The Block estimated unrealized losses of more than $9.2 billion. However, that was a snapshot at a particular BTC price, not a fixed month-end result. Every change in market prices altered both the dollar value and percentage of the paper loss. Treating a 16.8% drawdown and a $9.2 billion loss as permanent monthly figures would therefore be misleading.

An unrealized loss is not the same as cash lost from selling BTC: it measures the gap between current market value and historical purchase cost. Lower prices nevertheless carry risks for Strategy shareholders, its share valuation and the terms under which the company can raise additional capital. Strategy continued buying during the sell-off.

Gemini announced a 25% workforce reduction and exits from key markets

On February 5, the Winklevoss brothers' cryptocurrency exchange Gemini disclosed a restructuring plan in an SEC filing involving up to 200 employees, or about 25% of its workforce. At the same time, Gemini said it would wind down operations in the United Kingdom, the European Union and Australia. The plan was expected to be substantially completed during the first half of 2026, leaving operations in the United States and Singapore.

In a statement to users and investors, Gemini's founders pointed to the cost and complexity of operating internationally, and a desire for a leaner organization. They also emphasized AI-enabled efficiency and prediction markets. This was an announced commercial restructuring, not a company bankruptcy filing.

Three Gemini executives departed on February 17

Less than two weeks later, Gemini confirmed the departures of Chief Financial Officer Dan Chen, Chief Operating Officer Marshall Beard and Chief Legal Officer Tyler Meade. All three departures took effect on February 17 and were documented in a regulatory filing. The company named interim leaders for finance and legal affairs, while saying it did not intend to appoint a new COO.

On February 22, reports emerged of additional layoffs beyond the previously announced 25%. These reports cited Bloomberg and people familiar with the matter. The exact number of additional job cuts was not disclosed in those reports, so adding an unverified figure to the original 200 would be inappropriate.

Firedancer reached Solana mainnet before February

Some coverage connected February to Firedancer's launch and a throughput of one million transactions per second. In fact, the full Firedancer validator client went live on Solana mainnet on December 12, 2025. Built by Jump Crypto, it is an independent validator software implementation intended to improve client diversity and network resilience.

Throughput figures above one million TPS came from Firedancer performance demonstrations under test conditions, not actual end-user transaction throughput on Solana mainnet in February. It would therefore be inaccurate to say the network first achieved a million production TPS that month.

Solana's tokenized assets and RWA market continued growing

The ecosystem nevertheless continued developing in February. In the Solana Foundation's retrospective report, the network's real-world asset (RWA) market capitalization reached approximately $1.71 billion by month-end, up 45% over the previous 30 days. The foundation also highlighted Citigroup's tokenized trade-finance experiments and continued growth in institutional financial applications.

Tokenized exposure to NVIDIA, Tesla and other US stocks was not new in February: xStocks began rolling out tokenized equities in June 2025. On January 21, 2026, Ondo Global Markets expanded to Solana with more than 200 tokenized stocks and ETFs. February represented further sector growth, not the first appearance of these assets. Legal rights, liquidity and geographic eligibility differ between products.

What the $8 million Solana ETF inflow actually measured

On February 10, US-listed spot Solana funds recorded about $8.43 million in net inflows in a single trading day. That was their strongest day in nearly a month, not the total flow for all of February. The Solana Foundation's monthly review also noted that cumulative net inflows into US-listed Solana ETFs had exceeded $900 million since launch. Positive daily flows indicate selective investor interest, not a wholesale shift of institutional money into SOL.

Implications for affiliate marketing and crypto payments

February illustrated the different pressures on crypto businesses. Falling BTC prices affect corporate treasuries and liquidity, Gemini's international withdrawal changes service availability across jurisdictions, and Solana's RWA expansion broadens the infrastructure for financial products. Affiliate networks and media buyers should verify their payment providers' operational status, withdrawal conditions, actual network capacity and the legal restrictions attached to tokenized assets.

Crypto markets spent February 2026 under pressure as prices declined and fear reached extreme levels. Strategy continued buying Bitcoin despite falling treasury valuations, Gemini announced a major restructuring, and the Solana ecosystem expanded its financial infrastructure and tokenized asset markets. Here are the month's main developments, with confirmed facts separated from market estimates.

Bitcoin declined while Strategy kept accumulating BTC

Bitcoin remained under pressure through the end of February. According to historical trading data, BTC closed February 28 near $67,000. The market saw sharp bouts of panic after Bitcoin fell toward $62,000–$63,000 earlier in the month. On February 24, the Crypto Fear & Greed Index fell to 5 out of 100. Such a low reading reflects extreme anxiety, but does not guarantee an imminent price recovery.

Michael Saylor's Strategy continued its Bitcoin accumulation program. According to its February 23 SEC filing, the company bought another 592 BTC for approximately $39.8 million between February 17 and 22. As of February 22, it held 717,722 BTC purchased for a combined $54.56 billion, or an average of $76,020 per coin.

Strategy's paper losses: why the figures changed

When Bitcoin traded below $76,000, Strategy's reserves were worth less than their acquisition cost. In early February, The Block estimated unrealized losses of more than $9.2 billion. However, that was a snapshot at a particular BTC price, not a fixed month-end result. Every change in market prices altered both the dollar value and percentage of the paper loss. Treating a 16.8% drawdown and a $9.2 billion loss as permanent monthly figures would therefore be misleading.

An unrealized loss is not the same as cash lost from selling BTC: it measures the gap between current market value and historical purchase cost. Lower prices nevertheless carry risks for Strategy shareholders, its share valuation and the terms under which the company can raise additional capital. Strategy continued buying during the sell-off.

Gemini announced a 25% workforce reduction and exits from key markets

On February 5, the Winklevoss brothers' cryptocurrency exchange Gemini disclosed a restructuring plan in an SEC filing involving up to 200 employees, or about 25% of its workforce. At the same time, Gemini said it would wind down operations in the United Kingdom, the European Union and Australia. The plan was expected to be substantially completed during the first half of 2026, leaving operations in the United States and Singapore.

In a statement to users and investors, Gemini's founders pointed to the cost and complexity of operating internationally, and a desire for a leaner organization. They also emphasized AI-enabled efficiency and prediction markets. This was an announced commercial restructuring, not a company bankruptcy filing.

Three Gemini executives departed on February 17

Less than two weeks later, Gemini confirmed the departures of Chief Financial Officer Dan Chen, Chief Operating Officer Marshall Beard and Chief Legal Officer Tyler Meade. All three departures took effect on February 17 and were documented in a regulatory filing. The company named interim leaders for finance and legal affairs, while saying it did not intend to appoint a new COO.

On February 22, reports emerged of additional layoffs beyond the previously announced 25%. These reports cited Bloomberg and people familiar with the matter. The exact number of additional job cuts was not disclosed in those reports, so adding an unverified figure to the original 200 would be inappropriate.

Firedancer reached Solana mainnet before February

Some coverage connected February to Firedancer's launch and a throughput of one million transactions per second. In fact, the full Firedancer validator client went live on Solana mainnet on December 12, 2025. Built by Jump Crypto, it is an independent validator software implementation intended to improve client diversity and network resilience.

Throughput figures above one million TPS came from Firedancer performance demonstrations under test conditions, not actual end-user transaction throughput on Solana mainnet in February. It would therefore be inaccurate to say the network first achieved a million production TPS that month.

Solana's tokenized assets and RWA market continued growing

The ecosystem nevertheless continued developing in February. In the Solana Foundation's retrospective report, the network's real-world asset (RWA) market capitalization reached approximately $1.71 billion by month-end, up 45% over the previous 30 days. The foundation also highlighted Citigroup's tokenized trade-finance experiments and continued growth in institutional financial applications.

Tokenized exposure to NVIDIA, Tesla and other US stocks was not new in February: xStocks began rolling out tokenized equities in June 2025. On January 21, 2026, Ondo Global Markets expanded to Solana with more than 200 tokenized stocks and ETFs. February represented further sector growth, not the first appearance of these assets. Legal rights, liquidity and geographic eligibility differ between products.

What the $8 million Solana ETF inflow actually measured

On February 10, US-listed spot Solana funds recorded about $8.43 million in net inflows in a single trading day. That was their strongest day in nearly a month, not the total flow for all of February. The Solana Foundation's monthly review also noted that cumulative net inflows into US-listed Solana ETFs had exceeded $900 million since launch. Positive daily flows indicate selective investor interest, not a wholesale shift of institutional money into SOL.

Implications for affiliate marketing and crypto payments

February illustrated the different pressures on crypto businesses. Falling BTC prices affect corporate treasuries and liquidity, Gemini's international withdrawal changes service availability across jurisdictions, and Solana's RWA expansion broadens the infrastructure for financial products. Affiliate networks and media buyers should verify their payment providers' operational status, withdrawal conditions, actual network capacity and the legal restrictions attached to tokenized assets.

Crypto markets spent February 2026 under pressure as prices declined and fear reached extreme levels. Strategy continued buying Bitcoin despite falling treasury valuations, Gemini announced a major restructuring, and the Solana ecosystem expanded its financial infrastructure and tokenized asset markets. Here are the month's main developments, with confirmed facts separated from market estimates.

Bitcoin declined while Strategy kept accumulating BTC

Bitcoin remained under pressure through the end of February. According to historical trading data, BTC closed February 28 near $67,000. The market saw sharp bouts of panic after Bitcoin fell toward $62,000–$63,000 earlier in the month. On February 24, the Crypto Fear & Greed Index fell to 5 out of 100. Such a low reading reflects extreme anxiety, but does not guarantee an imminent price recovery.

Michael Saylor's Strategy continued its Bitcoin accumulation program. According to its February 23 SEC filing, the company bought another 592 BTC for approximately $39.8 million between February 17 and 22. As of February 22, it held 717,722 BTC purchased for a combined $54.56 billion, or an average of $76,020 per coin.

Strategy's paper losses: why the figures changed

When Bitcoin traded below $76,000, Strategy's reserves were worth less than their acquisition cost. In early February, The Block estimated unrealized losses of more than $9.2 billion. However, that was a snapshot at a particular BTC price, not a fixed month-end result. Every change in market prices altered both the dollar value and percentage of the paper loss. Treating a 16.8% drawdown and a $9.2 billion loss as permanent monthly figures would therefore be misleading.

An unrealized loss is not the same as cash lost from selling BTC: it measures the gap between current market value and historical purchase cost. Lower prices nevertheless carry risks for Strategy shareholders, its share valuation and the terms under which the company can raise additional capital. Strategy continued buying during the sell-off.

Gemini announced a 25% workforce reduction and exits from key markets

On February 5, the Winklevoss brothers' cryptocurrency exchange Gemini disclosed a restructuring plan in an SEC filing involving up to 200 employees, or about 25% of its workforce. At the same time, Gemini said it would wind down operations in the United Kingdom, the European Union and Australia. The plan was expected to be substantially completed during the first half of 2026, leaving operations in the United States and Singapore.

In a statement to users and investors, Gemini's founders pointed to the cost and complexity of operating internationally, and a desire for a leaner organization. They also emphasized AI-enabled efficiency and prediction markets. This was an announced commercial restructuring, not a company bankruptcy filing.

Three Gemini executives departed on February 17

Less than two weeks later, Gemini confirmed the departures of Chief Financial Officer Dan Chen, Chief Operating Officer Marshall Beard and Chief Legal Officer Tyler Meade. All three departures took effect on February 17 and were documented in a regulatory filing. The company named interim leaders for finance and legal affairs, while saying it did not intend to appoint a new COO.

On February 22, reports emerged of additional layoffs beyond the previously announced 25%. These reports cited Bloomberg and people familiar with the matter. The exact number of additional job cuts was not disclosed in those reports, so adding an unverified figure to the original 200 would be inappropriate.

Firedancer reached Solana mainnet before February

Some coverage connected February to Firedancer's launch and a throughput of one million transactions per second. In fact, the full Firedancer validator client went live on Solana mainnet on December 12, 2025. Built by Jump Crypto, it is an independent validator software implementation intended to improve client diversity and network resilience.

Throughput figures above one million TPS came from Firedancer performance demonstrations under test conditions, not actual end-user transaction throughput on Solana mainnet in February. It would therefore be inaccurate to say the network first achieved a million production TPS that month.

Solana's tokenized assets and RWA market continued growing

The ecosystem nevertheless continued developing in February. In the Solana Foundation's retrospective report, the network's real-world asset (RWA) market capitalization reached approximately $1.71 billion by month-end, up 45% over the previous 30 days. The foundation also highlighted Citigroup's tokenized trade-finance experiments and continued growth in institutional financial applications.

Tokenized exposure to NVIDIA, Tesla and other US stocks was not new in February: xStocks began rolling out tokenized equities in June 2025. On January 21, 2026, Ondo Global Markets expanded to Solana with more than 200 tokenized stocks and ETFs. February represented further sector growth, not the first appearance of these assets. Legal rights, liquidity and geographic eligibility differ between products.

What the $8 million Solana ETF inflow actually measured

On February 10, US-listed spot Solana funds recorded about $8.43 million in net inflows in a single trading day. That was their strongest day in nearly a month, not the total flow for all of February. The Solana Foundation's monthly review also noted that cumulative net inflows into US-listed Solana ETFs had exceeded $900 million since launch. Positive daily flows indicate selective investor interest, not a wholesale shift of institutional money into SOL.

Implications for affiliate marketing and crypto payments

February illustrated the different pressures on crypto businesses. Falling BTC prices affect corporate treasuries and liquidity, Gemini's international withdrawal changes service availability across jurisdictions, and Solana's RWA expansion broadens the infrastructure for financial products. Affiliate networks and media buyers should verify their payment providers' operational status, withdrawal conditions, actual network capacity and the legal restrictions attached to tokenized assets.