Happy Friday!

Bitcoin is rallying on Friday but overall down pretty bad and in need of a bailout. Only that said bailout is not going to come, according to VanEck’s Matthew Sigel.

Scott Bessent says the crypto industry’s problems are self-induced. Here’s why he is opposed to Coinbase’s recent action.

Plus, Benzinga Pro delivers real-time news, government trades, and market-moving catalysts in one place. President’s Day pricing ends tomorrow, 50% off Annual plans.

TOP STORY

'There Will Be No Bailout For Bitcoin,' VanEck’s Matthew Sigel Warns

"There is no CEO of Bitcoin, there will be no bailout," VanEck's Matthew Sigel warned as Bitcoin sits 50% below its peak.

But here's the twist: realized volatility has also dropped 50% compared to the 2022 crash, when BTC plunged 80%.

Sigel argues the structural backdrop is stronger than prior downturns, noting 13 countries are now mining Bitcoin at the government level and leverage remains relatively low.

His read: this is a typical down year in the four-year cycle—not a repeat of 2022.

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QUICK N DIRTY

Bitcoin, Ethereum, XRP are rallying slightly on Friday after a positive inflation data print: here’s what’s moving markets today.

Peter Schiff is not impressed by Michael Saylor’s ideas to refinance debt even if Bitcoin plunges to $8,000. Here’s what he had to say about that.

XRP’s co-creator has blasted Bitcoin for becoming technologically obsolete. Here’s why he thinks BTC is at the end of its road.

FINTECH FOCUS

Treasury Secretary Bessent Says Crypto Volatility Is 'Self-Induced' After Criticizing Coinbase For Clarity Bill Opposition

Treasury Secretary Scott Bessent is blaming the crypto crash on the industry itself. In a CNBC interview, Bessent called the selloff "self-induced," pointing to firms blocking the Digital Asset Market Clarity Act—and singled out Coinbase as a "recalcitrant actor" who should "move to El Salvador" if they don't want regulation.

Bitcoin is down nearly 50% from October highs, and Bessent argues clarity on the bill would stabilize markets.

Polymarket puts 61% odds on the Clarity Act passing this year, but the stablecoin yield fight with JPMorgan and Bank of America remains unresolved.

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