Today in Crypto closed around structure rather than spot direction: Fidelity filed to stake up to 100% of its Ether ETF, UBS lifted its reported IBIT exposure, and Tether said KPMG issued an unqualified opinion on its 2025 financials. Coverage also kept Bitcoin at the center, with ETF exposure, Stacks incentives and proposed hybrid ETF products in view.
The weaker side of the scan was corporate crypto balance sheets and market-integrity risk. GameSquare paired stronger operations with a crypto-linked accounting loss and limited cash, while a Solana treasury company reported a $27 million quarterly loss and cut its accelerator. Baltimore’s lawsuit against Kalshi and Polymarket, plus reporting on Polymarket surveillance links, kept prediction markets in the regulatory lane.