costs

The European Central Bank (ECB) has signed agreements with European Card Payment Cooperation, Nexo Standards, and Berlin Group to reuse existing open payment standards for digital euro transactions, aiming to reduce the system access costs for banks, merchants, and payment service providers.The relevant standards cover contactless payments, connections between merchants and payment service providers, as well as alias payments based on mobile phone numbers. The European Central Bank stated that this move helps to reduce market adoption costs and promotes a unified digital euro user experience in the euro area. Previously, the European Central Bank analyzed that the digital euro could bring about 4 billion to 6 billion euros in costs to EU banks within 4 years.

Helius CEO mert posted on platform X, stating that decentralization is essentially "coordination without a central authority." If the cost of coordination is close to zero, then it is effectively centralized; if the cost of coordination is infinitely high, then it technically cannot be called decentralized, as the system would not function properly.mert illustrated this point through a thought experiment: suppose there currently exists a highly decentralized blockchain with hundreds of thousands of nodes running from home, distributed mining power, and token supply. He then proposed another extreme hypothesis—if North Korea could transfer funds from wallet A to wallet B within time T, then this would be equivalent to that chain being able to simultaneously detonate nuclear weapons in most countries around the world.Finally, assuming that the blockchain could successfully freeze the funds in wallet A through a fork without causing mass casualties, would this blockchain still be considered decentralized? mert believes that although humanity can achieve coordination due to the shared incentive of "not dying," this does not mean that the chain is "unorganized." Decentralization is still fundamentally "coordination without a central authority."

ChainCatcher reported live that Du Yu, head of the Wanxiang Blockchain Lab, and He Yi, co-CEO of Binance, attended the 2026 Hong Kong Web3 Carnival, engaging in a roundtable discussion titled "Reshaping Boundaries: The Next Decade of Web3, AI, and the Intelligent Economy."Regarding the three major areas of personal focus, He Yi stated that she is currently dividing her time among three sectors: first, the world changes brought about by the approaching AI singularity, contemplating the product and service forms of Binance in the next decade; second, organizational and talent development, as companies need self-sustaining growth capabilities to support development once they reach a certain scale; third, the further integration of crypto and traditional finance, which is actively promoted in both the U.S. and Hong Kong, with the possibility that global foreign exchange may occur on blockchain rather than the SWIFT system in the future, and asset trading will achieve 24/7 uninterrupted global operations like in the crypto space.Regarding the impact of AI on Binance, He Yi clearly stated that Binance does not intend to lay off employees on a large scale to cut costs and improve efficiency like most tech companies. She believes AI makes the strong even stronger, as a programmer using AI to write code can enhance efficiency tenfold. She also shared that an employee was discovered and fired for "taking on multiple jobs" after their efficiency improved due to AI. She stated that Binance's overall approach is to further enhance the organization's output and innovation capabilities rather than reduce costs at the current scale.Regarding the goal of reaching three billion users, He Yi revealed that this year they have upgraded their target from pursuing one billion users to pursuing three billion users. She believes that becoming a company with three billion users means Binance is not just an exchange but a global financial infrastructure, with services aimed at everyday payments and wealth management for ordinary people.On the essence of AI, He Yi stated that there should be no "technological arrogance." No matter how advanced AI is, the most important thing for individuals is how technology serves life. She gave an example of when a bean bag can tell a rural elderly woman that a certain health product is fake and not to buy it, or when a lonely elderly person can chat with someone through AI; this is the value and significance that technology brings to humanity.Regarding the integration of crypto and traditional finance, He Yi pointed out that the internet has already gone through this path. Initially, Silicon Valley's internet had a strong hippie culture, which later diverged into two paths: those who went left pursued absolute freedom in the dark web, while those who went right created Google and Amazon, becoming commercial companies serving the public. Binance will steadfastly move towards serving the public. She also revealed that Binance has launched trading in commodities such as crude oil, gold, and silver, with the platform's commodity trading volume already accounting for a very high proportion of traditional scales. She believes that when labeling oneself to distinguish between Crypto and TradFi, that label is "drawing a line," and one should return to first principles: contributing to financial freedom and equality in the world.Regarding industry maturity and original intentions, He Yi stated that when Wall Street and traditional finance make a 180-degree turn to embrace crypto, it precisely indicates that the industry is becoming increasingly mature, with early-stage dividends diminishing. Entering a mature phase means crossing a chasm, and products must truly have value and be grounded. She quoted a phrase she has been saying since 2017: "We are not starting a business; we are creating history." Binance's slogan has also remained unchanged—"Exchange the World." She emphasized that the impact and transformation of Web3 on finance are real, and even if it only improves financial efficiency a little, it is an incredible innovation. There is no need to pursue perfection in one step; "just make a little progress every day."

Due to the migration of the top decentralized application Ether.fi to Optimism, the Ethereum Layer-2 network Scroll has experienced a significant loss of funds, resulting in a total value locked (TVL) decrease of approximately $160 million and an annual fee loss of about $13 million.Scroll stated that it will propose a plan to dissolve the decentralized security committee and reduce DAO members to lower operational costs, with network control being handed over to the internal team. Additionally, Scroll briefly raised network gas fees by 1,280 times after the protocol migration, causing users to pay over $50,000 in extra fees, but it has since returned to normal. After this adjustment, Scroll's TVL has dropped to approximately $23 million. The official statement claims that all contract changes will remain transparent and verifiable on-chain.

According to PR Newswire, BTQ Technologies has released a research paper titled "Kardashev Scale Quantum Computing for Bitcoin Mining," which quantifies the physical costs of the entire process of using quantum computing for Bitcoin mining for the first time. The related research points out that the market has long confused two types of quantum threats: one is the attack on Bitcoin's elliptic curve digital signatures (real and urgent), and the other is quantum mining accelerated by Grover's algorithm (theoretically possible but with extremely high practical costs).The BTQ paper argues that to have a substantial impact on consensus, a quantum computing cluster with energy consumption far exceeding the current level of human civilization needs to be built. The study also proposes an open-source resource estimation model, covering key aspects such as reversible double SHA-256 computation, fault-tolerant quantum error correction, and large-scale quantum bit scheduling. The conclusion emphasizes that the more realistic risk facing Bitcoin comes from vulnerabilities in cryptographic signatures, rather than quantum mining capabilities.

The conflict in the Middle East has led to disruptions in shipping through the Strait of Hormuz, causing global shipping costs to soar dramatically, and the war risk insurance premiums for vessels have risen rapidly.In addition, shipping companies also need to consider freight rates. Industry insiders indicate that freight rates have already increased by 11 to 12 times. The costs of insurance and detours are being passed on, continuously impacting global trade and supply chain security.

Sources close to the White House say that as the Iran war enters its second month, senior White House aides and government officials are discussing the possibility of oil prices soaring to $150 a barrel or even higher records.Two industry officials in contact with the White House indicated that White House officials are assessing the impact of high oil prices on the economy and considering measures to reduce costs, including the use of additional emergency powers. Trump has also received reports from the Treasury Department regarding the recent outlook for energy prices. The U.S. Treasury currently believes that oil prices may remain above $100 a barrel for some time.Sources say the government views this figure as a "baseline" and does not rule out the possibility of oil prices rising to $200 a barrel. Another informed official revealed that the government is trying every possible idea to alleviate oil prices, including exercising emergency powers and responding to supply chain disruptions in the Strait of Hormuz for defense reasons.

According to The Block, digital asset management company CoinShares released a report indicating that Bitcoin miners are facing ongoing pressure to break even while accelerating their transition to AI. CoinShares' research director James Butterfill noted that the weighted average cash cost for publicly listed mining companies to mine one Bitcoin in the fourth quarter of 2025 has risen to approximately $79,995.The price of computing power has further dropped from $36 to $38 per PH/s/day to about $28 to $30 in the first quarter of 2026, meaning miners are still under more pressure. The report also pointed out that a triple negative difficulty adjustment at the end of 2025 is the first since July 2022, with publicly listed miners' Bitcoin reserves decreasing by more than 15,000 coins from their peak, with Core Scientific, Bitdeer, and Riot all having sold, and MARA separately announced the sale of 15,133 Bitcoins on Thursday.Regarding price outlook, Butterfill stated that a rebound in Bitcoin price to $100,000 "is not unrealistic," at which point the price of computing power is expected to rise to about $37 per PH/s/day; if it reaches the previous high near $126,000, it could reach about $59. If Bitcoin remains below $80,000 in the long term, the price of computing power will continue to decline with rising difficulty, but the exit of loss-making capacity may stabilize returns.In terms of the AI transition, Butterfill expects that publicly listed mining companies are rapidly accelerating their shift to artificial intelligence and high-performance computing, driven primarily by the higher and more stable returns in these fields compared to Bitcoin mining. By the end of this year, the revenue share from AI for publicly listed mining companies is expected to rise from the current approximately 30% to as high as 70%.

Data shows that the economic pressure on Bitcoin mining is intensifying. The current average production cost per coin is about $88,000, while the current Bitcoin price is approximately $69,200, meaning miners are losing nearly $19,000 per BTC, resulting in an overall loss of about 21%. Meanwhile, the overall mining difficulty has decreased by about 7.8%, marking the second-largest drop within 2026, reflecting the exit of computing power and rising network pressure.Analysis suggests that rising energy prices, combined with the tense situation in the Middle East, further increase mining costs. Electricity costs remain under pressure, and if miners are forced to sell Bitcoin to maintain operations, it could create additional selling pressure on the market. If Bitcoin prices continue to stay below the cost line and difficulty continues to decrease, the process of miners clearing out may continue, putting pressure on the spot market structure in the short term.

According to CoinDesk, the conflict in the Middle East leading to rising oil prices has caused a significant drop in Bitcoin's hash rate, putting pressure on miners and the overall market.In the past week, the network hash rate has decreased by about 8%, to 920 EH/s, suggesting a possible entry into a new phase of miner sell-offs, which is usually accompanied by downward price pressure. The current Bitcoin price is below $72,000, down about 5% from Monday's peak. The network is expected to undergo a hash rate difficulty adjustment of about 8%, marking the second-largest negative adjustment in the past five years. Previously, in mid-February, Bitcoin also experienced a historic significant difficulty adjustment, indicating extreme volatility in mining activity.Analysis indicates that the pressure faced by miners stems from intensified competition, persistently low transaction fees, and Bitcoin price fluctuations, which have compressed profit margins. Many publicly listed mining companies have begun to diversify their operations, including AI and high-performance computing, while increasing Bitcoin sales to maintain operations, which also creates some resistance to Bitcoin prices.

According to on-chain data platform CryptoQuant, the selling pressure from Bitcoin miners has intensified. MARA announced a new policy allowing the sale of Bitcoin reserves and transferred 298 BTC to Cumberland; Core Scientific recently also sold 2,174 BTC.MARA's current average mining cost is about $70,027 per coin, while efficient miners can have costs as low as approximately $45,000. The purpose of the sell-offs by several mining companies includes strengthening their balance sheets and funding the expansion of AI infrastructure.

According to Cointelegraph, Token Terminal data shows that Ethereum transaction costs have plummeted 99% from historical highs, currently averaging only $0.016.

The CEO of Mysten Labs, evan.sui, stated in a recent interview that he does not agree with the notion of "bear markets are great, keep building." In fact, bear markets are not "great" and are not worth celebrating or boasting about. The volatility does not merely "cleanse the market," but can scare away builders and users, leading to a smaller talent pool and slower adoption processes. While bear markets may allow a few teams to focus more, packaging it as beneficial for everyone overlooks the real costs and can harm the long-term development of the crypto industry. During downturns, many people lose their savings, cash flow breaks down, and even some strong teams may not be able to survive, which genuinely harms many individuals.

The chairman of the U.S. Securities and Exchange Commission (SEC) testified before the House Financial Services Committee that it will reduce regulatory burdens through three initiatives to "make IPOs great again," including: streamlining disclosures based on materiality, reducing politicized issues at shareholder meetings, and providing litigation alternatives for public companies. He emphasized that the federal regulatory framework for crypto assets is "seriously outdated," supports Congress in passing the CLARITY Act, and collaborates with the CFTC to develop token classification and on-chain trading exemption programs through "Project Crypto."At the same time, the SEC is conducting a comprehensive review and cutting costs of systems like the Consolidated Audit Trail (CAT), reducing PCAOB budgets and board compensation, and combating overseas manipulation and fraud through cross-border enforcement, reaffirming its core mission to protect investors and enhance market efficiency.

Bitcoin mining has entered a severe phase, with unit hash rate revenue dropping to a historical low of about $35/PH. Affected by a significant market correction, the price of Bitcoin has fallen over 50% from its 2025 peak of $126,000, currently hovering around the $60,000 range. Against this backdrop, the average production cost of a single Bitcoin across the network is approximately $87,000, about 45% higher than the current market price, marking the first large-scale "underwater operation" since the bear market of 2022.CryptoQuant defines the current phase as the "surrender phase," characterized by the accelerated shutdown of old mining machines and a noticeable contraction in overall network hash rate. As a result, the stock prices of listed mining companies such as MARA Holdings and Riot Platforms have dropped over 20% this week, with funds flowing towards more stable traditional assets like gold.Meanwhile, North America's mining hubs (especially Texas) are facing severe winter storms, forcing some mining farms to limit power usage to ensure the stability of the civilian power grid. Coupled with miner exits, the network experienced a historic difficulty adjustment of about 11% on February 9. However, due to the significant drop in coin prices, the profitability recovery effect from the difficulty adjustment is limited.The industry's "Miner Profitability Sustainability Index" has fallen to 21, indicating that, except for a few operators with low electricity costs and high efficiency, most miners have completely compressed profit margins. For companies with electricity prices above $0.05 per kilowatt-hour or those still using older model mining machines, this difficulty adjustment is unlikely to reverse the risk of total shutdown.To cope with the "2026 mining winter," leading companies are accelerating their transition to artificial intelligence (AI) and high-performance computing (HPC). IREN and Core Scientific have redirected some of their data center power capacity to support generative AI businesses to secure more stable long-term contract revenues. Recently, Bitfarms announced a complete exit from Bitcoin mining to focus on its AI strategic transformation.

According to Cointelegraph, India is exploring the cross-border use of the digital rupee (e-rupee) to reduce payment costs, enhance trade settlement efficiency, and expand the global role of the rupee.The report states that as a sovereign digital currency issued by the Reserve Bank of India, the e-rupee enables direct and final settlement without relying on multiple intermediaries in international payments. Currently, India has proposed linking the e-rupee with the central bank digital currencies (CBDCs) of other countries, particularly those in the BRICS, to streamline cross-border trade, remittances, and tourism settlements.

Data shows that the number of validator nodes on the Solana network has significantly decreased from a peak of 2,560 in March 2023 to the current 795, a drop of 68%, raising concerns in the market about the network's level of decentralization.Industry insiders point out that, in addition to clearing "zombie nodes," a more core reason is the continuous rise in operating costs + zero-fee competition among large nodes, which is systematically squeezing out small and medium-sized validators. An independent validator node operator stated that many small nodes are not bearish on Solana, but rather that the economic model has become unsustainable: "Without economic viability, decentralization becomes a charitable act." Meanwhile, Solana's Nakamoto Coefficient has dropped from 31 to 20 during the same period, a decline of about 35%, indicating that the control of staked SOL is concentrating in the hands of a few large nodes, reducing the network's level of decentralization.From a cost perspective: to maintain operation (excluding hardware and servers), a node needs at least $49,000 worth of SOL in the first year; approximately 401 SOL is required annually to pay for voting fees; and daily voting transaction costs can reach up to 1.1 SOL/day. The trend signals are clear: Solana is gradually evolving from a "broad participation node structure" to a structure dominated by large institutional nodes, which may have a profound impact on the network's security structure and governance patterns in the long term.