It’s been one of those busy weeks again. Markets moved, narratives shifted, and crypto never really sleeps. Even while enjoying the weekend, I still like to stay in touch with what’s happening across the space. From regulation and macro moves to airdrops, NFTs, and random curveballs, there’s always something worth paying attention to.
This week, one topic stood out more than the rest: Tax Unrealized Bitcoin Gains. On top of that, we’ve got important airdrop updates, a messy brand controversy, metals making unexpected moves, and another NFT platform calling it quits. Let’s break it all down and get you fully up to speed.
1) Tax Unrealized Bitcoin Gains: A Dutch Proposal That Sounds Unreal
I’m Dutch, and honestly, this proposal sounds completely ridiculous.
But knowing the Netherlands, I wouldn’t be shocked if it actually passes.
Starting in 2028, the Dutch government plans to tax unrealized gains on assets like Bitcoin, stocks, bonds, and other investments. That means you could owe tax on profits you never realized, never sold, and never received in cash.
Yes, even if your Bitcoin sits quietly in a hardware wallet.
The New Box 3 System Explained
The proposal falls under a new tax framework called Wet werkelijk rendement Box 3, scheduled to start on January 1, 2028.
Instead of taxing assumed or estimated returns, the government wants to tax the actual yearly change in value of your assets.
Here’s how it works in simple terms:
- The value of your assets is measured at the start and end of the year
- Any increase counts as taxable return
- Both realized and unrealized gains are included
- A flat tax rate of 36% applies
- The first €1,800 per person is tax-free
Losses can be carried forward and used to offset future gains, which sounds fair on paper. But in practice, this system creates a serious problem.
Why the Netherlands Is Changing the Rules
This reform comes after Dutch courts ruled the old Box 3 system unfair. Investors were taxed on fictional returns, even during years with losses.
Lawmakers argue the new model is more accurate and treats all asset classes equally, including crypto. On paper, that sounds reasonable.
In reality, taxing unrealized Bitcoin gains is a different beast.
Why This Is Bad News for Bitcoin Holders
Bitcoin is volatile. Anyone who has held BTC longer than a week knows that.
Taxing unrealized gains means:
- You may owe taxes during a temporary pump
- You might need to sell Bitcoin just to pay taxes
- A later crash doesn’t refund your earlier tax bill
As a Dutch investor, this would completely change how I operate.
Long-term holding becomes unattractive. Spot accumulation makes no sense.
Personally, if this goes through, I would never hold Bitcoin long-term again. I’d purely trade and farm. No emotional attachment. No multi-year holds.
And I wouldn’t be surprised if crypto investors and businesses quietly relocate elsewhere.
2) Airdrop Claims & Farming Updates
This is your reminder to stay on top of airdrop updates.
Missing a claim or a simple sign-in can cost you months or years of farming.
Rainbow Wallet Airdrop: Check Your Points
- Snapshot: January 26
- Claim: February 25
This one hurts.
Rainbow Wallet was a 2–3 year farm, and I was an active user throughout 2024. I checked my points recently after not using the wallet for about nine months.
From memory, around 90% of my points are gone.
Did I miss a sign-in in 2025? Maybe.
Did they quietly change something? Also possible.
No clear explanation so far. Just disappointment.
If you farmed Rainbow, check your points now. I hope your outcome is better than mine.
ETHgas Airdrop ($GWEI)
Good news for once.
- ETHgas airdrop claim is live
- Token: $GWEI
If you interacted with ETHgas earlier, make sure you don’t miss this one.
3) Pudgy Penguins, Manchester City, and a PR Disaster
Pudgy Penguins announced a high-profile partnership with Manchester City, bringing NFTs and physical merchandise together. On paper, this was a massive branding win.
Limited edition collectibles, global reach, and mainstream exposure.
Pretty cool move by Luca. Love him or hate him, he knows how to push the brand forward.
Then things went sideways.
Backlash, Apologies, and a Falling Token
Shortly after the partnership announcement, a Pudgy Penguins post on X sparked backlash. Many users criticized it as xenophobic toward India, especially in the context of InfoFi and reply-spam discussions.
Manchester City stepped in and forced the project to apologize.
The post was deleted, and private acknowledgments followed.
The market reacted fast:
- PENGU initially pumped on the partnership news
- Then dropped around 16%
- Weekly losses reached roughly 20%
Speculative hype faded quickly, and reputational damage didn’t help.
The bigger issue is brand mismatch. Pudgy Penguins markets itself as family-friendly, yet often leans into edgy engagement farming online. That contrast is starting to matter, especially when partnering with global brands.
Learn how to claim your very first airdrop, or share this with your friends who want to join
4) Palladium Breaks Above $2,000
A quick macro update, because this one aged very well.
At the start of the year, we wrote about palladium around $1,634.
Just three and a half weeks later, it’s up roughly 25% and trading above $2,000.
What’s Driving the Move?
According to UBS:
- Palladium price forecasts were raised by $300 per ounce
- Investment demand is the main driver
- The market is small, which leads to sharp swings
This isn’t about catalytic converters anymore.
It’s about positioning for:
- Lower US interest rates
- A weaker dollar
- Rising geopolitical uncertainty
Interestingly, palladium has been moving alongside platinum and silver since mid-2025. With palladium now much cheaper than platinum, UBS expects manufacturers to eventually switch back.
ETF inflows and futures positioning confirm rising investor interest.
5) Nifty Gateway Is Shutting Down – Action Required
If you were active during the NFT boom in 2020 or 2021, check Nifty Gateway now.
The Gemini-owned platform will shut down on February 23, 2026 and is already in withdrawal-only mode.
Personally, I still had:
- TheWeeknd NFTs are sitting there
- Some leftover dollars
- Assets that were once worth thousands and are now basically worthless
You must manually withdraw:
Withdrawals can be done via Gemini or directly to your bank through Stripe.
A Short History of a Big NFT Name
Nifty Gateway launched in 2020 and helped bring NFTs to the mainstream by allowing credit card purchases.
At its peak in 2021:
- Over $300 million in NFT sales
- Big-name artists like Beeple, Grimes, Eminem, and TheWeeknd.
As the NFT market cooled, activity dropped sharply. In 2024, the platform pivoted away from a full marketplace. Now, it’s shutting down entirely.
Another reminder that cycles end, and platforms disappear.
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Final Words
This week perfectly sums up the current market.
Governments are pushing aggressive tax proposals.
Airdrops reward the active and punish the inattentive.
Big brands flirt with crypto, then back away fast.
Old NFT giants quietly shut their doors.
And metals keep outperforming expectations.
Stay flexible. Stay informed.
And above all, check your wallets, claims, and accounts before it’s too late.
If you enjoyed this blog, you may want to check our other crypto news updates.
As always, don’t forget to claim your bonus below on Bybit. See you next time!
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