XRP Ledger launches permissioned DEX, Strategy purchases $168M Bitcoin, Animoca secures Dubai license | Weekly recap

In this week’s edition of weekly recap, XRP Ledger activated a members-only decentralized exchange for regulated institutions, Strategy reported its fourth-largest Bitcoin purchase of the year and Animoca Brands obtained regulatory approval in Dubai.

XRP Ledger enables institutional-only trading

• The XRP network has activated a new “Permissioned DEX” amendment designed to allow regulated institutions to trade on XRPL without opening markets to unrestricted participation.
• The technical upgrade, known as XLS-81, enables creation of permissioned decentralized exchanges functioning similarly to XRPL’s existing built-in DEX but with controlled access restrictions.

Strategy acquires Bitcoin with preferred share proceeds

• The treasury company reported Tuesday its fourth-largest Bitcoin (BTC) purchase of 2025, acquiring 2,500 BTC for $168 million last week.
• Total holdings increased to approximately 717,100 Bitcoin following the acquisition.

Animoca obtains Dubai regulatory authorization

• The digital asset venture capital company received Monday a Virtual Asset Service Provider license from Dubai’s regulatory authority governing the digital asset industry.
• The licensing approval enables Animoca to operate cryptocurrency-related services within the Emirate’s regulatory framework.

Logan Paul’s Pikachu card sets auction record

• The YouTuber and entrepreneur sold his PSA-10 Pikachu Illustrator card for $16,492,000 in an auction conducted by Goldin.
• Guinness World Records confirmed the sale establishes the rare Pokémon card as the most expensive Pokémon card ever sold.

Gemini implements senior leadership changes

• The cryptocurrency exchange disclosed Tuesday plans for restructuring that will see Chief Operating Officer Marshall Beard, Chief Financial Officer Dan Chen, and Chief Legal Officer Tyler Meade depart effective February 17.
• Form 8-K filings indicate the company plans separation agreements potentially allowing temporary retention to assist transitions, during which executives would receive base salary and benefits without additional bonuses.

Nevada regulators pursue Kalshi enforcement

• The Nevada Gaming Control Board filed civil enforcement action against KalshiEX LLC in Carson City District Court, accusing the federally regulated prediction market of offering unlicensed wagering.
• Regulators argue Kalshi’s sports-linked “event contracts” constitute gambling under Nevada law.

Hyperliquid establishes Washington advocacy group

• The decentralized perpetual futures exchange launched a new advocacy organization to advance clearer decentralized finance regulations in Congress.
• The Hyperliquid Policy Center will be “dedicated to advancing a clear, regulated path for decentralized finance to thrive in the United States” according to February 18 announcements.

BitMine accumulates Ethereum near recent lows

• The treasury company purchased 45,759 Ethereum (ETH) for approximately $91 million near $2,000 pricing, roughly 62% below the 2025 peak exceeding $5,000.
• Total holdings reached 4.37 million Ethereum with 3.04 million staked.

UAE government reportedly holds $700M Bitcoin

• Blockchain analytics firm Arkham Intelligence stated the United Arab Emirates has accumulated approximately $700 million worth of Bitcoin through state-linked mining operations.
• On-chain research identified wallets controlled by the UAE government holding around 6,300 Bitcoin.

Polymarket acquires prediction market infrastructure

• Polymarket purchased Dome, a Y Combinator-backed startup building unified API solutions for developers to access and build across multiple prediction market platforms.
• This acquisition provides Polymarket with infrastructure allowing broader developer ecosystem participation and cross-platform integration capabilities.

SEC reduces stablecoin capital requirements

• The Securities and Exchange Commission quietly reduced the capital “haircut” on qualifying payment stablecoins for broker-dealers from 100% to 2%.
• This regulatory adjustment means $100 of approved stablecoins can now count as $98 toward a firm’s net capital.

Tether discontinues offshore yuan stablecoin

• The company announced it will cease support for CNH₮, its offshore yuan stablecoin, citing low demand and limited community adoption.
• All new token issuances will end immediately, while redemption support will terminate one year from the announcement date following prior reminder notices.