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Fastest Breaking Markets Updates Crypto • Finance • Technology • War
The Week Ahead | @infinityhedge
•Trump to host first official Cabinet meeting on 26
•U.S. Senate Banking Committee hearing on “Exploring Bipartisan Legislative Frameworks for Digital Assets” on 26
•Amazon Event in NY that may include the launch of a revamped “Alexa” with AI on 26
•Nvidia Earnings on 26
•Fed’s Michael Barr to speak on novel activity supervision, like crypto-assets on 27
•US Core PCE ⚠️ (expected to cool to the slowest pace since June) on 28
•Deepseek’s Open Source Week, they'll be open-Sourcing 5 repos: whole week
Ethena Crypto Project Raises $100 Million to Fund Finance Foray: BBG
The fundraising, which hasn’t been previously reported, was completed in December and drew investors including Franklin Templeton and F-Prime Capital, the venture capital firm affiliated with Fidelity Investments.
BYBIT CEO Livestream on the Latest ETH Wallet Incident: LIVE NOW
https://www.bybit.com/en/press/live/eth-wallet-incident
https://www.youtube.com/live/Pso66cnmdWk
BYBIT CEO CONFIRMS A ETH COLD WALLET WAS HACKED FOR $1.4B+ (401K ETH)
*Hacker took control of the specific ETH cold wallet we signed and transfered all ETH in the cold wallet to unidentified address. Please rest assured that all other cold wallets are secure. All withdraws are NORMAL.
Bybit Total Assets: $15.727B (per defillama)
Bybit Processing Withdrawals Normally: Onchain
*BYBIT CEO: Bybit is Solvent even if this hack loss is not recovered, all of clients assets are 1 to 1 backed, we can cover the loss.
Currently monitoring suspicious outflows from Bybit of $1.46B+ will update as information becomes available
0x47666Fab8bd0Ac7003bce3f5C3585383F09486E2
*TRUMP EYES TARIFFS TO COUNTER DIGITAL TAXES HATED BY BIG TECH
President Trump is expected to sign a memorandum on Friday that allows for levies in response to digital services taxes imposed by some countries on US tech giants
*SEC LAUNCHES CYBER AND EMERGING TECHNOLOGIES UNIT
*SEC CYBER UNIT WILL COMBAT FRAUD IN CRYPTO AMONG OTHER AREAS
TRUMP CALLS UKRAINE’S PRESIDENT ZELENSKIY A DICTATOR WITHOUT ELECTIONS
TRUMP SAYS UKRAINE'S ZELENSKIY "BETTER MOVE FAST" OR HE WON'T HAVE A COUNTRY LEFT
The Week Ahead | @infinityhedge
*No Bitcoin purchase news expected by MicroStrategy this week
*Trump, Elon Musk Fox News interview; 9PM ET: 18
*FTX repayments; Claims <$50k ~ $1.2B at 10AM ET: 18
*Apple Launch Event: 19
*Binance.US Announcement: 19
*Argentina’s Javier Milei’s Libra Token Scandal Fallout
FIGURE AI HUMANOID STARTUP IN TALKS FOR $40B VALUATION
Backed by OpenAI and Microsoft, Figure is discussing a $1.5 billion funding round.
EARLIER: META PLANS MAJOR INVESTMENT INTO AI-POWERED HUMANOID ROBOTS
TSMC CONSIDERS OPERATING US INTEL FACTORIES AFTER TRUMP REQUEST
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ETH Pectra Testnet Announcement: ETH
*It will go live on Holesky at 21:55 UTC Feb. 24, and then on Sepolia at 7:29 UTC Mar. 5
TRUMP: WOULD LOVE TO HAVE RUSSIA BACK IN G7
TRUMP: WANT TO TELL XI, PUTIN LET'S CUT MILITARY BUDGET IN HALF
TRUMP: NO REASON TO BUILD NUCLEAR WEAPONS; HAD BEEN TALKING ABOUT DENUCLEARIZING AND WE ARE GOING TO DO IT
CZ: I am just posting my dog's picture and name. I am NOT issuing a meme coin myself. It's up to the community to do that (or not). I will likely interact with a few of the more popular meme coins on BNB Chain (BSC)
https://x.com/cz_binance/status/1890071433214038103
CZ: Will post the dog pic in 3 hours, 8PM ish Dubai time
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MICROSTRATEGY ACQUIRES 20,356 BITCOINS AT AN AVG. PRICE OF $97,514 BETWEEN FEB. 18 & 23, 2025
Total Holdings: 499,096 BTC
Average Price: $66,357/BTC
*BTC DOWN 2.6%
*GOLD UP 0.3%
*SPX DOWN 1.3%
*NVIDIA DOWN 2.6%
*MICROSTRATEGY DOWN 5%
*COINBASE FALL 5.3%, NOW DOWN 18.5% SINCE EARNINGS ANNOUNCED LAST WEEK
Ethena Labs : Not a single dollar of spot backing value is held on any exchange, including Bybit.
Update: the $30m of unrealised PNL noted in the prior post has been reduced to $10m and we expect to have zero unrealised PNL exposure to Bybit within the next hour.
There are currently $2.0b of liquid stablecoins in USDe backing which can be redeemed immediately if users wish.
2nd Update: The unrealised PNL exposure to Bybit has been reduced to zero
ZachXBT: My sources confirm it's a security incident
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*APPLE PULLS CLOUD ENCRYPTION FEATURE IN UK AFTER BACKDOOR ORDER
Apple is removing its most advanced, end-to-end encrypted security feature for cloud data in the United Kingdom, in a stunning development after the government ordered the company to build a backdoor for accessing user data.
*UK government ordered Apple to build a backdoor into customer data globally.
SEC STAFF HAS AGREED IN PRINCIPLE TO DISMISS ITS UNLAWFUL ENFORCEMENT CASE AGAINST COINBASE, SUBJECT TO COMMISSIONER APPROVAL: LINK
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ECB Wants to Establish Blockchain-Based Payment System: BBG
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DEEPSEEK WEIGHS RAISING OUTSIDE MONEY FOR FIRST TIME - THE INFORMATION
ALIBABA AND CHINESE STATE FUNDS HAVE EXPRESSED INTEREST IN INVESTING IN DEEPSEEK
Every great cause begins as a movement, becomes a business, & eventually degenerates into a racket
MUSK’S XAI DISCUSSES $10 BILLION RAISE AT $75 BILLION VALUATION
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*ABU DHABI'S SOVERIGN WEALTH FUND BOUGHT $436M OF BITCOIN ETFS IN Q1: 13F
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Anyone Can Push Updates to the DOGE Website: 404media
The doge.gov website that was spun up to track Elon Musk’s cuts to the federal government is insecure and pulls from a database that can be edited by anyone.
Still live on website here: https://doge.gov/workforce?orgId=1&ref=404media.co
TRUMP SIGNS MEMO TO IMPLEMENT RECIPROCAL TARIFF PLAN, TARGETING COUNTRIES WITH LARGE U.S. TRADE SURPLUSES
TRUMP: SENDING COMMODITIES THROUGH OTHER COUNTRIES TO AVOID TARIFFS WILL NOT BE ACCEPTED
TRUMP: TARIFF PLAN WILL INCLUDE TARIFFS, VAT, AND OTHER BARRIERS; VAT TAX WILL BE VIEWED AS A TARIFF; WILL CONSIDER COUNTRIES THAT USE VAT; PROVISIONS WILL BE MADE FOR NON-MONETARY TARIFFS
WH OFFICIALS HOPE TO DISCUSS WITH OTHER COUNTRIES, AND IF OTHER COUNTRIES WANT TO LOWER TARIFFS, TRUMP IS VERY WILLING TO LOWER TARIFFS
TRUMP: EXPECTS A LOT OF COUNTRIES' TARIFFS TO STAY THE SAME. I DON'T EXPECT ANY EXEMPTIONS OR WAIVERS.
LUTHNICK: TRUMP MAY LAUNCH A RECIPROCAL PLAN BEFORE APRIL 2
WH official: Tariffs would be customized for each country, meant to offset not just their own levies on US goods but also non-tariff barriers nations impose in the form of unfair subsidies, regulations, VAT, exchange rates & other factors that act to limit US trade.
*Trump's decision not to implement tariffs right away could be seen as an opening bid for negotiation.
US PPI YOY ACTUAL 3.5% (FORECAST 3.3%, PREVIOUS 3.3%)
US PPI MOM ACTUAL 0.4% (FORECAST 0.3%, PREVIOUS 0.2%)
US CORE PPI MOM ACTUAL 0.3% (FORECAST 0.3%, PREVIOUS 0.0%)
US CORE PPI YOY ACTUAL 3.6% (FORECAST 3.3%, PREVIOUS 3.5%)
JPMorgan says Tether may need to sell bitcoin to comply with proposed US stablecoin regulations: TheBlock
JPMorgan analysts estimate that only 66%–83% of Tether’s reserves comply with proposed U.S. stablecoin regulations, potentially requiring asset restructuring.
Tether CEO says 'salty' JPMorgan analysts discount his company's $20 billion group equity in their analysis of its reserves