EU Crackdown, Goldman Bets, Bithumb's Big Blunder

Welcome to our Crypto news in 10, a daily podcast bringing you the latest news about crypto in under 10 minutes.

Here's what's making waves on Wednesday, February 11, 2026... Europe is taking a harder line on Russia and crypto. A Wall Street giant quietly reveals the depth of its digital-asset exposure. A major broker opens round-the-clock access to tiny crypto futures. South Korea probes an exchange after a stunning internal error. And prices are wobbling again ahead of key U.S. data. Let's get you up to speed.

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First up, Brussels.

The European Commission has proposed a sweeping ban on any cryptocurrency transactions tied to Russia — a blanket prohibition, not just a narrow blacklist. The draft, part of the EU's twentieth sanctions package since the invasion of Ukraine, would bar dealings with any crypto service provider connected to Russia. It even targets transactions involving the Bank of Russia's digital rouble, and it calls out a rouble-pegged stablecoin from payments platform A7 by name.

To enforce it, the package tightens controls on third-country routes — officials say some dual-use exports are being rerouted through Kyrgyzstan. It still needs unanimous approval from member states — and several have already raised concerns about scope and enforcement — but if it passes, it would be one of the toughest crypto-related sanctions regimes anywhere, according to the Financial Times.

Next, a rare window into Wall Street balance sheets.

Goldman Sachs disclosed roughly 2.36 billion dollars of crypto exposure in its latest 13F — almost entirely through spot ETFs. The breakdown is striking: about 1.1 billion in bitcoin ETFs, roughly one billion in ether ETFs, and first-time positions in XRP and Solana ETFs at approximately 153 million and 108 million dollars, respectively.

It's a sliver of Goldman's overall portfolio — but it marks a tangible shift from years of caution to sizable, regulated exposure via securities, not raw tokens. Reporting indicates the bank holds no direct coins, leaning instead on ETFs and options for risk management. Net-net... one of the biggest names in finance is now positioned across multiple large-cap networks, not just bitcoin, as noted by Crowdfund Insider.

On the product side, Interactive Brokers just switched on 24/7 access to nano bitcoin and nano ether futures listed by Coinbase Derivatives. Contracts are sized at 0.01 BTC and 0.10 ETH — small enough for precise hedging — and they're available with monthly expiries or in a perpetual-style format, all on a CFTC-regulated venue.

The broker says trading runs around the clock, with only a short Friday maintenance window. If you're a pro desk or an active retail trader managing crypto risk over weekends, this is meaningful — futures tools that finally match crypto's always-on nature, but inside a traditional brokerage stack.

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Let's head to Seoul.

Bithumb's promotional giveaway went spectacularly wrong last week when staff entered amounts in bitcoin instead of Korean won — leading to 620,000 BTC being mistakenly credited across user accounts. The exchange halted trading and clawed back virtually all of it on-ledger — about 99.7 percent — but roughly 9 million dollars remains unaccounted for after dozens of customers managed to sell quickly during the chaos.

South Korea's Financial Supervisory Service has launched a probe, and lawmakers have called emergency hearings to question Bithumb's internal controls. The company says it wasn't a hack... but the incident is a stark reminder that operational safeguards — not just smart-contract security — can make or break trust in centralized platforms, according to the Guardian.

And finally, prices.

Bitcoin slipped again this morning, hovering in the mid sixty-seven thousand dollar range after Monday's bounce. Majors like ether and XRP are also in the red. Markets are eyeing Friday's U.S. CPI print for clues on the rate path — a softer read could bolster risk appetite and ETF inflows, while a hot number could extend the risk-off tone.

Crypto-exposed equities — exchanges and trading platforms among them — were softer in premarket trading. For now, it's classic macro-meets-crypto tape: thinning liquidity, headline sensitivity, and fast rotations as traders handicap the next Fed move, as reported by Barron's.

Quick recap...

The EU's proposed ban on all Russia-linked crypto flows would set a new global precedent if it clears member states. Goldman's 2.36-billion-dollar ETF footprint shows institutions are diversifying beyond bitcoin. Interactive Brokers' 24/7 nano futures bring regulated derivatives closer to crypto's always-on reality. In Korea, Bithumb's fiasco underscores the cost of weak operations even without a hack. And prices? Still choppy into Friday's CPI... so expect volatility to stick around.

Thanks for listening and see you tommorow!