Weekly Recap | Trump Raises Global Tariffs to 15%, UK Crypto Legislation May Take Effect in 2027, Ec
2026.02.24
Last Week in Review (Feb 16 – Feb 22)
The U.S. introduced a unified 15% global tariff policy, triggering market volatility. The uncertainty surrounding this policy is expected to continue influencing risk appetite and trading sentiment in the coming week.
Amid ongoing regulatory developments and expectations for institutional product rollouts, the crypto market moved in a cautious, range-bound pattern, with total market capitalization edging slightly lower. Bitcoin briefly attempted to break above $70,000 but pulled back toward the $65,000 level, maintaining a relatively weak overall trend.
This report brings you a quick recap of last week’s key developments in the crypto industry and a preview of the major trends and highlights for the week ahead.
Market Pulse
Trump raised global tariffs from 10% to 15%, intensifying macro uncertainty.
The Head of Product at X stated that the platform will crack down on bots and undisclosed AI accounts.
The U.S. Department of Defense reportedly warned of potential penalties against AI company Anthropic.
WLFI claimed that its stablecoin USD1 faced a coordinated attack, with hackers compromising a co-founder’s account and attempting to short the token unsuccessfully.
Strategy is currently sitting on an unrealized loss of $7.059 billion, while Bitmine reports an unrealized loss of $8.208 billion.
Funding & M&A
A total of 10 funding rounds were completed last week, with total disclosed financing exceeding $140 million, mainly concentrated in DeFi and AI:
AI agent startup Temporal secured $300 million in a Series D round led by a16z.
Digital wallet infrastructure provider Kresus Labs raised $13 million.
Monark Markets completed an $8 million strategic round led by F-Prime.
Stake raised $31 million in a Series B round led by Emirates NBD.
Fintech company Newity raised $11 million to bring small business loans on-chain.
Sports prediction market Novig secured $75 million in a Series B round led by Pantera Capital.
Policy & Compliance
An SEC commissioner proposed rule revisions to clarify the regulatory framework for payment stablecoins.
The Hong Kong Gold Exchange announced plans to develop a digital commodities blockchain.
A Tennessee judge approved a preliminary injunction blocking state enforcement action against Kalshi.
The Arizona Senate Finance Committee passed a bill to establish a digital asset strategic reserve fund.
The CFTC stated that it holds exclusive federal jurisdiction over prediction markets.
According to pound-backed stablecoin issuer Agant, UK crypto legislation may take effect in 2027.
Echobit Highlights
The Ice & Snow interactive giveaway campaign went live, offering festive rewards for task participation.
The Winter Olympics Prediction Challenge launched, with participants competing to split a 300 USDT prize pool.
The Valentine’s Trading Rewards campaign kicked off, featuring a 10,000 USDT prize pool for traders.
The “Find the Designated Coin” interactive challenge went live, rewarding users for completing tasks.
The Global Journey Series – Stop 8: Taj Mahal themed event launched, offering exclusive gifts for participants.
The “Find the Hidden Coin” challenge began, encouraging users to complete interactive tasks to win rewards.
Week Ahead (Feb 23 – Mar 1)
Alchemy Pay plans to launch the testnet of its L1 public blockchain, Alchemy Chain, on February 23.
Donald Trump is scheduled to deliver a State of the Union–style address on February 24.
The White House will begin imposing a temporary 10% tariff on certain imported goods starting February 24.
U.S. Securities and Exchange Commission has postponed its decision on raising position limits for IBIT options, with a new deadline set for February 24.
U.S. lawmakers have called for an investigation into WLFI’s application for a banking license.
NVIDIA will release its earnings report after market close on February 25.
Echobit will continue tracking global crypto developments, focusing on market movements, regulatory trends, and investment opportunities—helping you navigate bull and bear cycles and stay ahead of the curve.