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The collaboration comes as part of the exchange’s plan to expand partnerships with major financial institutions.

Your day-ahead look for Feb. 28, 2025

(Bloomberg) -- As news started spreading about a massive hack on crypto exchange Bybit last Friday, cybersecurity researchers quickly concluded that the era of giant digital-asset heists had entered a new and potentially ruinous phase.Most Read from BloombergCuts to Section 8 Housing Assistance Loom Amid HUD UncertaintyThe Trump Administration Takes Aim at Transportation ResearchShelters Await Billions in Federal Money for Homelessness ProvidersNYC Office Buildings See Resurgence as Investors Pi

Since the start of the year, bitcoin holdings bought on margin on Bitfinex have increased by over 13,000 BTC.

Dogecoin (CRYPTO: DOGE) was the cryptocurrency industry's original meme-token. It was created as a joke by two friends in 2013, who were inspired by the "Doge" meme that was spreading across the internet like wildfire at the time. Dogecoin has become a vessel for speculative investors because it has very little utility in the real world.

This year's average purchase price is around $97,880, leaving investors facing an almost 20% unrealized loss at current prices.

The overall cryptocurrency market has climbed 24% since the presidential election in November. Donald Trump embraced digital assets during his campaign and, while upward momentum has stalled in recent weeks, some Wall Street experts still anticipate big gains in XRP (CRYPTO: XRP) and Bitcoin (CRYPTO: BTC). Dom Kwok, former Goldman Sachs employee and co-founder of blockchain education company EasyA, earlier this year said XRP had a good shot at replacing Ethereum as the second most valuable cryptocurrency.