🔽 Ross Ulbricht-Linked Wallets Lose $12M in Memecoin Mishap

Crypto wallets tied to recently pardoned Silk Road founder Ross Ulbricht suffered a $12M loss after mistakenly mispricing ROSS, a fan-made memecoin, on Raydium. The wallet set up liquidity at the wrong price, allowing an MEV bot to instantly scoop up and dump 40% of the token supply, crashing ROSS by 90%. Despite the loss, the wallet still holds 10% of the supply (~$200K).

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Crypto experts be like.

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❕ Coinbase Users Lose $150M to Scams

ZachXBT revealed that Coinbase users have lost $150M to social engineering scams, with a recent victim losing $11.5M on Base. Attackers used phishing and fake support tactics to steal funds, laundering them across multiple exchanges. Concerns grow over Coinbase’s security measures, as scams continue with no intervention from the exchange.

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⏬ THORChain Faces Collapse as $200M Debt Cripples Protocol

THORChain is in turmoil with $200M in toxic loans, forcing a halt to THORFi services and a 90-day restructuring plan. RUNE has crashed 82%, hitting 2020 levels amid liquidity concerns. Founder John-Paul Thorbjornsen insists on profitability, but doubts grow. $50-100M in funding is critical to survival, while AX1 proposes Trust Wallet acquisition to settle debts and install new leadership. Without urgent action, RUNE risks total collapse.

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Altcoin Season Index:

The last technical altcoin season was in November last year.

We are now sitting at the 50% zone.

What's next: A retest of the red zone? (alt season) - Or the green zone? (BTC season).

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🐋 Two Whales Take Heavy Losses on AI16Z and TRUMP

On-chain data reveals two crypto whales suffered major losses. One whale, who invested $2.91M in AI16Z 24 days ago, is now down $2.14M as the token has dropped 77% from its all-time high. Another whale bought 92,700 TRUMP tokens for $2.8M on Jan. 28 but panic-sold at $23.82, taking a $590K loss. The sharp declines highlight the risks of timing volatile altcoin markets.

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⏬ Crypto Market Falls Below $3T as Trump Tariffs Spark Sell-Off

The total crypto market cap dropped $379 billion, slipping under $3 trillion after Trump confirmed new trade tariffs. Bitcoin fell 7.2% to $93,391, losing key support at $93,625. If BTC fails to reclaim this level, a drop to $90,000 is possible. Investors are closely watching the $2.93T market cap support to avoid further losses.

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❕ Crypto Market Drops as Scimitar Capital Reportedly Liquidates Holdings

A sudden selloff in altcoins is rumored to be linked to Scimitar Capital’s decision to liquidate its crypto holdings, returning capital to investors. The market-wide drop saw Bitcoin fall 4% and the global crypto market cap shrink by 5.74% to $1.04 trillion. Altcoins like Cardano (ADA) and Solana (SOL) took the biggest hit, losing over 24% in the past 24 hours. Reports suggest Scimitar offloaded $2 billion in altcoins, triggering the decline, though the firm’s online presence remains limited.

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🔥 Ether Volatility Surges Over 100% Amid Market Crash

Ether’s price plummeted up to 24%, causing its one-day at-the-money volatility to spike from 34% to 184%. The renewed U.S. trade war intensified risk-off sentiment, triggering major market dislocations. On Deribit, ETH hit a low of $2,065, while Kraken and Coinbase saw prices at $2,127 and $2,150, respectively. Market makers reportedly contributed to the heightened volatility and price distortions.

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🙏 Bitcoin and XRP Lead $527M Inflow Recovery Despite Volatility

Crypto ETPs recorded a fourth consecutive week of inflows, totaling $527 million, with Bitcoin leading the surge as U.S. investors poured in $474 million. Despite AI-driven market uncertainty, including $530 million in early-week outflows triggered by concerns over China’s DeepSeek AI, the market rebounded strongly, attracting over $1 billion later in the week. BlackRock’s IBIT led Bitcoin ETF inflows with $918 million, while XRP saw $15 million in inflows, bringing its YTD total to $105 million. Ethereum struggled, ending the week with neutral net flows.

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📣 MicroStrategy Pauses Bitcoin Buys Ahead of Earnings

MicroStrategy halted its weekly Bitcoin purchases for the first time in 12 weeks, likely due to a pre-earnings blackout period. The company holds 471,107 BTC and recently raised over $250M to continue accumulating.

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Eric Trump suggested that now is a great time to buy Ethereum.

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📣 World Liberty Financial Moves Majority of Crypto Holdings to Coinbase

World Liberty Financial, a Trump-backed DeFi protocol, transferred over 90% of its treasury, including significant ETH and WBTC holdings, to Coinbase. The moves, totaling hundreds of millions, coincided with ETH’s sharp rebound and Eric Trump’s post suggesting it was a good time to buy. Similar transfers were made for AAVE, ENA, and LINK, while its TRX position remained untouched. The reason behind these transactions remains unclear.

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📣 Coinbase Adds Ether.fi (ETHFI) and Bittensor (TAO) to Listing Roadmap

Coinbase has announced plans to list Ether.fi (ETHFI) and Bittensor (TAO), signaling compliance with the exchange’s security and regulatory standards. Following the announcement, both tokens surged over 30% before retracing, reflecting typical exchange listing reactions. The move is expected to boost liquidity and demand for these altcoins.

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🔥 Berachain Set to Launch Mainnet on February 6

Berachain, a blockchain known for its cult-like following, is officially rolling out its mainnet on February 6. The network introduces a proof-of-liquidity consensus mechanism, rewarding liquidity providers. The launch has been humorously framed as occurring in "Q5," a fictional quarter beyond Q4, adding to the hype. Meanwhile, Berachain’s pre-deposits application has already attracted over $3 billion in liquidity within a week, signaling strong early interest.

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FTX to Start Repayments for Bahamas Creditors on February 18

FTX will begin repaying creditors in the Bahamas process from February 18, prioritizing claims under $50,000 via BitGo. Other creditors will need to wait until March 4 for reimbursement. Additionally, creditors will earn 9% annual interest on lost assets since FTX's collapse in November 2022, reflecting the surge in crypto values. This marks a major step in resolving the exchange’s bankruptcy and restoring investor confidence.

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📣 SEC Launches Crypto Task Force, Shifts Away from Gensler’s Approach

Led by Hester Peirce, the SEC’s new crypto task force will work on defining which tokens are securities and creating a legal framework for compliant offerings. This marks a shift from Gary Gensler’s enforcement-driven stance, as the agency moves toward clearer regulations under a Republican majority.

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❕ XRP Ledger Temporarily Halts Block Production Amid Consensus Issue

The XRP Ledger stopped producing blocks for about an hour before spontaneously recovering, with Ripple CTO David Schwartz citing a possible network "drift" caused by validation issues. No assets or transactions were lost. The disruption follows previous technical challenges on XRPL, raising concerns about network stability. XRP dropped 8.3% on the day to $2.52.

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❕ Ondo Finance Brings U.S. Securities Onchain with New Tokenization Platform

Ondo Finance has launched Ondo Global Markets, enabling onchain access to U.S. stocks, bonds, and ETFs. The platform tokenizes assets 1:1, making them freely transferable outside the U.S., similar to stablecoins. With over $650M TVL, Ondo continues expanding real-world asset tokenization.

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