- The global crypto market cap decreased 1.75% over the past day to $2.87tn, while the total crypto market 24h volume decreased over 4% to $159.93bn. Bitcoin is down 3.30% in the past 24h and currently trades at $85,800 with a 24h volume of over $70bn. ETH is down 5% for the day, trading at $2,350 with a 24h volume of $32.40bn, which is 18% higher than a day ago.
- Crypto liquidations over the past 24h came in at $775.88m, with over 77% of them long positions. BTC liquidated orders amounted to $468.55m or 60% of all liquidated positions, with BTC longs leading at $388.83m.
So far, as per Coinglass liquidations data, Feb 25 marks the 3rd day of liquidations reaching levels higher than $700m.
source: Coinglass
- Outflows continue for US BTC and ETH spot ETFs. On Feb 26, BTC spot ETFs recorded net daily outflows totalling $755m while ETH ETFs recorded $94.3m in outflows. Between Feb 1 and Feb 26, as per Coinglass data, the AUM for US BTC spot ETFs decreased by over 15.59%, from over $125bn to the current $105.5bn.
- According to Lookonchain, whales are panic-selling ETH, with one address selling 8,074 ETH ($19.63m) at an average price of $2431 yesterday and another depositing 10k ETH ($23.44m) on Binance in the past 2 days.
- US President Trump has announced that tariffs on the European Union are imminent, proposing a 25 per cent levy on imports including cars and other goods, and accusing the bloc of being designed to disadvantage the United States. The announcement, made during a cabinet meeting with Elon Musk present, raises concerns of a transatlantic trade war as the European Commission warned it will react "firmly and immediately against unjustified barriers to free and fair trade". Following Trump's announcement, Bitcoin dropped below $84,000 for the first time since Nov 11, before recovering to currently trade around $85,900.
- The forensic review led by cybersecurity firms Sygnia and Verichains into the Bybit hack concluded that the attack specifically targeted Bybit’s wallet through vulnerabilities in Safe{Wallet}'s infrastructure. Investigators found that the breach was executed by replacing a normally benign JavaScript file with malicious code. This substitution appears to have been made possible by compromising a developer machine and potentially leaking AWS S3/CloudFront credentials. In response, Safe{Wallet} released a statement on X confirming that the Lazarus Group executed the attack using a compromised developer machine, while emphasizing that their smart contracts and frontend code were unaffected. They have since reconfigured their entire infrastructure, rotated all credentials, and implemented enhanced security measures to eliminate the attack vector, with a full post-mortem pending further investigation.
- The Ethereum Foundation is donating $1.25m to Tornado Cash developer Alexey Pertsev, stating in a post on X that "Privacy is normal, and writing code is not a crime". Alexey Pertsev was convicted on money-laundering charges last year and is currently waiting to appeal his conviction.
- The US Department of Justice (DOJ) announced that 26-year-old Russian national Aleksei Andriunin, founder of Gotbit, was extradited from Portugal to face charges of wire fraud and conspiracy to commit market manipulation. According to DOJ documents, between 2018 and 2024, Gotbit provided market manipulation services—essentially “wash trading” cryptocurrencies—to inflate token prices on behalf of client cryptocurrency companies, including companies located in the US. Andriunin allegedly funneled millions of dollars of Gotbit’s proceeds into his personal Binance account, and he previously admitted his business was “not entirely ethical” in a 2019 interview.