It was the week of February 17th, with Bitcoin plunging and we may be experiencing another crypto contagion.
The biggest news this week is that the crypto market is shaking after Bybit suffered the biggest hack in industry history.
The attack caused a wave of liquidation, particularly in the Ethereum futures market.
On February 14th, Argentine President Javier Mairi promoted the launch of a new Solana Memecoin called Libra. The story is still developing, but so far there have been multiple allegations of market manipulation and insider trading.
I’ll post updates to the streets and roundtables next week so please follow me to stay up to date.
Now for some good news! President Donald Trump shared an XRP-related article on Coindesk on his social media platform Truth Social. In this article, we discussed Ripple, CEO of Brad Garlinghouse, about his optimism regarding US dealings and employment after Trump’s election victory.
Brazilian securities regulators have also approved the world’s first spot XRP ETF. It is managed by HashDex, a global cryptocurrency management company with over $1 billion in assets under management.
Brazil may have beaten the US with the launch of the Spot XRP ETF, but the US SEC has allowed applications from multiple asset managers, including Bitwise for the SPOT XRP ETF application. Acknowledgments began a 21-day public comment period before a final decision was made. According to analysts at Bloomberg, there is a possibility of 65% approval in the US
In the case of Bitcoin, asset management company Bitwise has pledged to donate $150,000 from Bitcoin ETF (BITB) profits to support open source developers of Bitcoin. This initiative is part of an ongoing commitment, with 10% of BITB’s total profit being allocated annually to Bitcoin development.
Meanwhile, the strategy, also known as MicroStrategy, has announced plans to raise $2 billion in 0% convertible senior notes to buy more Bitcoin.
The move is part of the 21/21 Plan, which aims to raise $42 billion over three years to acquire Bitcoin. The company currently owns 478,740 BTC, and its shares have skyrocketed 372% over the past year despite reporting a net loss of $670.8 million in the fourth quarter of 2024.
As of February 18th, Bitcoin Memocoin Dogs are now available for trading in Solana thanks to a two-way bridge launched by Minelabs. The bridge allows for seamless token movement between Bitcoin and Solana, allowing fast trading at commissions under penny within Meteor’s liquidity pool.
The story continues