BitMine's, $BMNR, unrealized ETH losses rise to -$6.6 billion, now on track to become the 5th largest documented principal trading loss in history if sold.
Unrealized losses are now at ~66% of the size of Archegos in 2021, the largest loss ever recorded.
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Unrealized losses are now at ~66% of the size of Archegos in 2021, the largest loss ever recorded.
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Just four days before Trump’s inauguration, Abu Dhabi–linked entities quietly acquired a 49% stake in crypto project World Liberty Financial ($WLFI) for $500M.
About $187M reportedly went directly to Trump family structures. At least another $31M went to companies affiliated with project co-founder Steve Witkoff.
The investor was Sheikh Tahnoon bin Zayed, one of the most powerful figures in the UAE and a key lobbyist for access to US AI chips.
This deal stands out.
A foreign government official secured a major stake in a business tied to a future US president.
Hard to call it just a crypto investment.
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Newly released emails show Epstein was far closer to early Bitcoin funding and research circles than previously known. The connections touch developers, academics, investors, and political figures.
Key links that stand out:
Epstein sent about $850,000 to MIT between 2002 and 2017. Part of this money supported the MIT Digital Currency Initiative, which later paid Bitcoin Core developers during a funding shortfall.
The MIT DCI funded developers like Gavin Andresen and Wladimir van der Laan after the Bitcoin Foundation ran out of money. Epstein visited MIT nine times. His name was hidden internally and staff referred to him as “Voldemort.”
Emails describe a meeting at Epstein’s Manhattan mansion with Brock Pierce and Larry Summers. Bitcoin was discussed years before mainstream adoption. Summers saw potential but worried about reputational risk if prices collapsed.
In 2018 Epstein emailed Bannon asking about crypto taxes, receiving coins, spending coins, and avoiding campaign finance rules. Bannon replied “On it” and connected him with FEC experts and crypto figures.
Amazon records show Epstein buying books on Bitcoin, Ethereum, blockchain, and negotiation in 2017, while rebuilding his network.
These links suggest Epstein had access to developers, regulators, donors, and early crypto investors. None of this was public at the time.
The emails also show MIT underreported donations, visits were discreet, meetings were not logged, and senior officials approved funding privately.
This does not prove Epstein controlled Bitcoin or influenced its direction. It does show he was closer to the ecosystem than most people ever assumed.
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JUST IN: Elon Musk says SpaceX is going to put a literal Dogecoin, $DOGE, on the moon potentially as soon as next year.
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JUST IN: After CZ dismissed the idea of a crypto supercycle, Binance is now facing technical issues with user withdrawals, according to the company’s official statement.
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Every single crypto bull run ever (2013, 2017 and 2021) happened when the ISM moved up above 50.
Yesterday we hit 52.6.
This entire cycle since 2021 we’ve been below 50 with only tiny blips above the surface.
This is by far the largest move up we’ve had this cycle.
Run it hot.
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Yesterday we hit 52.6.
This entire cycle since 2021 we’ve been below 50 with only tiny blips above the surface.
This is by far the largest move up we’ve had this cycle.
Run it hot.
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After enough “existential threats,” each cycle feels less terminal.
The early shocks were brutal. Later ones were still violent, but easier to process.
Not because they were smaller, but because the brain had adapted.
Every cycle leaves scar tissue.
In crypto, scar tissue turns into antifragility. Better priors. Faster reflexes. Cleaner counterparty rules.
Experience does not compress.
Time is the one leverage nobody can liquidate.
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All the best times to buy crypto.
Feel like the absolute stupidest times possible to buy crypto.
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Feel like the absolute stupidest times possible to buy crypto.
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🫡 L2 as we knew it is over
Vitalik Buterin said the old idea of “L2 = simple Ethereum scaling” no longer holds.
Ethereum L1 is scaling on its own. At the same time, many L2s are moving too slowly toward full trust minimization.
➡️ If an L2 brings real new properties, it earns its place
➡️ If it doesn’t, it should be treated as a more independent network, not an Ethereum extension
The market will have to reprice what “being an L2” actually means.
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Vitalik Buterin said the old idea of “L2 = simple Ethereum scaling” no longer holds.
Ethereum L1 is scaling on its own. At the same time, many L2s are moving too slowly toward full trust minimization.
The market will have to reprice what “being an L2” actually means.
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