A UK man’s bid to obtain a permit to search a landfill for his hard drive — holding private keys to 8,000 Bitcoin — has been rejected by the UK Court of Appeals.
“Appeal request to the Royal Court of Appeal: refused,” Howells said in a March 14 X post.
“The Great British Injustice System strikes again… The state always protects the state,” the early Bitcoin adopter added before revealing his “next stop” would be the European Convention on Human Rights (ECHR).
UK Royal Court of Appeal Judge Christopher Nugee knocked back Howells’ application, stating that there was no “real prospect of success” and there was “no other compelling reason” as to why it should be heard, according to a March 13 filing shared with Cointelegraph.
Nugee’s decision follows an earlier dismissal on Jan. 9 from High Court Judge Andrew Keyser, who similarly said there was “no realistic prospect” of Howells’ case succeeding at a full trial.
In a note to Cointelegraph, Howell said his “last legal option” to exhaust is at the ECHR — where he will claim that the UK High Court and UK Court of Appeal breached his right to property and right to a fair trial under Article 1 of Protocol 1 and Article 6 of the ECHR.
“The British establishment want to sweep this under the carpet, and i will not let them. It will not go away — no matter how long it takes!”
The ECHR cannot overrule a UK court decision — however, a verdict in Howells’ favor would call on the UK courts to consider whether its legislation was interpreted in a way that is compatible with the ECHR’s provisions.
In a separate statement shared with Cointelegraph, Howells said he would file a claim to the ECHR in the “coming weeks.”
The court filings follow repeated rejections from the Newport City Council allowing Howells to search through the Docksway landfill — where Howells’ former partner disposed of a bag containing the hard drive at the site in 2013.
Howells’ 8,000 Bitcoin (BTC) is worth around $660 million at current prices. While few predicted Bitcoin would reach such heights back then, Howells’ incident illustrates the importance of properly securing self-custodied crypto funds.
Howells also appears to be running out of time, as the Docksway landfill is reportedly set to shut down sometime during the UK’s 2025-2026 financial year, BBC News reported on Feb. 9.
Coinbase exchange’s stock price has received an optimistic price prediction from a Bernstein analyst, citing improving crypto regulatory clarity in the world’s largest economy.
Gautam Chhugani, an analyst at global asset management firm Bernstein, initiated coverage of Nasdaq-listed Coinbase (COIN) stock with an outperform rating and a price target of over $310.
The analyst expects improving mainstream cryptocurrency adoption, driven by US President Donald Trump’s administration, which intends to make crypto policy a national priority and make the US a global hub for blockchain innovation, according to a Bernstein research note seen by Tipranks.
If Coinbase shares manage to rise to $310, it would mean an over 64% rally from the current $188 mark, Google Finance data shows.
Coinbase stock may surge on improving crypto regulatory clarity in the US
Coinbase is set to benefit from crypto’s “ascendancy to the US financial mainstream” amid improving regulations, mainly due to the firm offering a one-stop platform for numerous crypto activities, wrote the research note, adding:
“COIN is described as a crypto exchange, but it is actually what a universal Bank would look like in the world of blockchain-based financial services.”
“COIN offers an exchange, broker/dealer, institutional prime desk, stablecoin banking, crypto payments, custodian bank, software and blockchain ecosystem services, all combined into a full stack ‘Amazon’ of crypto financial services,” added the report.
Crypto regulation is heading in a positive direction, with some analysts seeing the US Bitcoin reserve plan as the first “real step” for Bitcoin’s integration into the global financial system.
“The US has taken its first real step toward integrating Bitcoin into the fabric of global finance, acknowledging its role as a foundational asset for a more stable and sound monetary system,” Joe Burnett, head of market research at Unchained, told Cointelegraph.
While Trump has previously highlighted his intentions to bolster crypto innovation in the US, issuing regulatory frameworks takes time and setting the “right regulatory tone” will be crucial for the administration, according to Anastasija Plotnikova, co-founder and CEO of Fideum — a regulatory and blockchain infrastructure firm focused on institutions.
Xapo Bank, a global cryptocurrency-friendly bank headquartered in Gibraltar, is betting on crypto lending revival by launching Bitcoin-backed US dollar loans.
Qualifying Xapo Bank clients can now access Bitcoin (BTC) loans of up to $1 million, the firm said in an announcement shared with Cointelegraph on March 18.
The new lending product is designed for long-term Bitcoin hodlers who want to access cash while keeping their BTC, Xapo Bank CEO Seamus Rocca told Cointelegraph.
“Unlike traditional assets, Bitcoin is an ideal form of collateral — it is borderless, highly liquid, available 24/7, and easily divisible, making it uniquely suited for lending,” Rocca said.
No collateral re-usage
A key distinction of Xapo’s Bitcoin loan product is that the bank does not rehypothecate the loan collateral by users, meaning that its lending mechanism does not involve the re-usage of BTC assets by clients.
Instead, the Bitcoin collateral is stored in Xapo’s BTC vault using institutional multiparty computation (MPC) custody.
Working of a crypto lending platform.
Eligible Xapo clients can choose repayment schedules of 30, 90, 180 or 365 days, with no penalties for early repayment, the firm said.
Who is eligible?
Xapo’s new Bitcoin lending offering will be available to pre-approved members based on several criteria.
The key criteria for eligibility are the amount of Bitcoin holdings and the period of holdings, as Xapo specifically targets long-term BTC holders with a long-term investment strategy.
According to the bank, the offering will be available to global investors in regions like Europe and Asia, excluding residents of the United States.
The list of jurisdictions supported by Xapo Bank. Source: Xapo Bank
Xapo Bank is regulated by the Gibraltar Financial Services Commission under the Financial Services Act 2019. In 2024, the bank successfully passported its banking license in the United Kingdom, granting its Xapo Bank App full access to the country.
While Xapo’s lending is offered across the European Union, crypto lending is not covered by local regulations like the Markets in Crypto-Assets framework.
A revival following numerous collapses
Xapo Bank’s new BTC loan launch comes a few years after the crypto lending industry suffered a major crisis in 2022.
“The collapse of Celsius, BlockFi, and other centralized lenders significantly eroded trust in the crypto lending space,” Xapo Bank CEO told Cointelegraph.
An example of the Bitcoin lending process on the Xapo Bank App. Source: Xapo Bank
“Borrowers today exercise greater caution, prioritizing platforms with a proven track record in Bitcoin custody and those that offer secure, transparent solutions — especially ones that do not engage in rehypothecation,” Rocca said, adding:
“At the same time, demand for Bitcoin-backed loans is on the rise, particularly among high-net-worth individuals and institutional investors who seek liquidity without selling their Bitcoin holdings.”
In addition to removing asset rehypothecation and MPC security, Xapo offers risk management tools and proactive protection to prevent automatic liquidations.
“In the event of a Bitcoin price drop, customers receive instant notifications, allowing them to either top up their collateral or make partial repayments to maintain their loan status,” Rocca noted.
Xapo is not the only firm that has been working to introduce lending products in 2025. In early March, Bitcoin developer Blockstream secured a multibillion-dollar investment to launch three new institutional funds, with two of them offering BTC lending.
Bitcoin managed to outperform the other major global assets, such as the stock market, equities, treasuries and precious metals, despite the recent crypto market correction coinciding with the two-month debt suspension period in the United States.
Bitcoin’s (BTC) price is currently down 23% from its all-time high of over $109,000 recorded on Jan. 20, on the day of US President Donald Trump’s inauguration, Cointelegraph Markets Pro data shows.
Despite the recent decline, Bitcoin still outperformed all major global market segments, including the stock market, equities, US treasuries, real estate and precious metals, according to Bloomberg data shared by Thomas Fahrer, the co-founder of Apollo Sats.
BTC/USD, 1-year chart. Source: Cointelegraph
“Even with the pullback, Bitcoin still outperforming every other asset post election,” wrote Fahrer in a March 18 X post.
Asset performance post-Trump administration takeover. Source: Thomas Fahrer
Despite concerns over the premature arrival of the bear market cycle, Bitcoin’s retracement to $76,000 remains part of an organic “correction within a bull market,” according to Aurelie Barthere, principal research analyst at the Nansen crypto intelligence platform.
“We are still in a correction within a bull market: Stocks and crypto have realized and are pricing in a period of tariff uncertainty and fiscal cuts, no Fed put. Recession fears are popping up,” the analyst told Cointelegraph.
Bitcoin ETFs log biggest daily inflows since February
The US spot Bitcoin exchange-traded funds (ETFs) are starting to see positive net daily inflows, which may bring more upside momentum for the world’s first cryptocurrency.
The US Bitcoin ETFs recorded over $274 million worth of cumulative net inflows on March 17, marking the highest day of investments since Feb. 4, when Bitcoin was trading above $98,652, Sosovalue data shows.
While Bitcoin may see more downside volatility due to global trade war concerns, it is unlikely to see a significant decline below the current levels, according to Gracy Chen, CEO of Bitget.
Chen told Cointelegraph:
“I don’t see BTC falling below 70k, possibly $73k – $78k which is a solid time to enter for any buyers on the fence. In the next 1-2 years, BTC at $200k isn’t as far-fetched as most would think.”
Other industry leaders are also optimistic about Bitcoin’s price trajectory for the rest of 2025, with price predictions ranging from $160,000 to above $180,000.
Magazine: SCB tips $500K BTC, SEC delays Ether ETF options, and more: Hodler’s Digest, Feb. 23 – March 1