ZachXBT Teases Investigation; Chinese AI Firms Copy Claude; Kraken Lists Bundled Token

️ On today's Top Picks:

Crypto News

• Terraform Labs administrator sues Jane Street for alleged insider trading leading up to the collapse of Terra-Luna; Jane Street reportedly disputes the allegations and says they will defend themselves.

• Strategy $MSTR buys an additional 592 Bitcoin $BTC for ~$39.8M at ~$67,286 per BTC: now holds 717,722 BTC (~$46.4B) acquired for ~$54.6B at ~$76,020 per BTC.

• Bitdeer $BTDR reduces Bitcoin $BTC holdings to zero; says "We are currently evaluating multiple non-binding powered land acquisition opportunities, and we believe it is prudent to prepare liquidity now."

• ⭐️ Vitalik Buterin continues selling Ethereum $ETH; has sold 3,765 ETH for ~$7M in the past 3 days; 10,723 ETH for ~$21.7M since February 2nd; previously announced he would sell ETH to fund several project in January.

• BitMine $BMNR buys an additional 51,162 Ethereum $ETH (~$94.9M); now holds 4,422,659 ETH (~$8.2B) & $691M in cash; staking 3,040,483 ETH (~$5.6B).

• Digital Asset Investment Products recorded $288M in outflows last week; Bitcoin $BTC $215M outflows, Ethereum $ETH $36.5M outflows, Solana $SOL $3.3M inflows, Ripple $XRP $3.5M inflows.

• Crypto[.]com $CRO receives conditional approval for national trust bank charter from US OCC; Circle, Ripple, BitGo, Fidelity Digital Assets, Paxos, & Bridge also recently received conditional approval.

Alpha

• Euphoria $MEGA launches Week 2 of Tapathon; anyone who previously created a Euphoria account is eligible to participate; top participants will be eligible for rewards & prizes; to launch on MegaETH mainnet soon.

• Katana $KAT launches Season 1 'Training Mode' quests; users can complete quests, earn XP, & collect badges; TGE expected in ~May.

• OpenEden $EDEN to launch PRISM pre-deposit campaign rewards on February 28th; also launches new daily EDEN rewards stream for all yPRISM token holders; full PRISM launch expected soon.

• ICYMI Polymarket $POLY launches up/down HYPE market; recently launched 5 minute BTC, ETH, SOL & XRP markets; also recently teased POLY token.

• ICYMI Nado $INK raises NLP cap from $4M to $6M; Templars of the Storm NFT holders are whitelisted for early access; deposits to open to the public on February 21st.

• ICYMI USDai $CHIP launches Season 2 Points; also extends Level Up deadline for Pendle YT deposits until March 1st; TGE & airdrop expected in March.

Airdrops

• ⭐️ Jupiter $JUP Net-Zero Emissions proposal passes; Jupuary airdrop postponed indefinitely; Jupuary tokens go into the Community Cold Multisig until the community decides what happens next.

• Human[.]tech $HUMN to launch airdrop soon; HUMN Points holders & Human Tech Covenant Signatory NFT holders will potentially be eligible; HUMN Points Season 2 is currently live.

• ICYMI OpenMind $ROBO launches airdrop registration; OpenMind points holders, community members, & more are eligible; closes on February 24th.

• ICYMI YO $YO to close airdrop claim on May 6th; YO points holders are eligible; token is non-transferable until enabled via governance vote.

• ICYMI Kraken's Ink Foundation $INK teases INK token; Nado & Tydro points holders, and more will potentially be eligible for INK airdrop; Nado Open Beta Season 1 & Tydro Season 2 are ongoing.

Finance News

• ~$800B wiped out from the US stock market today; wipeout attributed to AI disruption fears (Anthropic Claude announcements) and trade war headlines (US President Trump's new 15% global tariff).

• US President Trump increases new global tariff from 10% to 15%; new tariff in response to the US Supreme Court ruling against tariffs imposed under IEEPA; notably, the EU has since froze approval of US trade deal.

• IBM $IBM drops ~12% after Anthropic announces Claude can streamline legacy COBOL code; worst day since October 2000; down ~23% YTD; similarly, IT security companies (CrowdStrike $CRWD) dropped after Anthropic launched Claude Code Security.

• ASML $ASML announces EUV light source upgrade that could let chipmakers (TSMC $TSM, Samsung $005930.KS, Intel $INTC) produce up to 50% more chips by 2030; from ~220 wafers per hour per machine to ~330.

• PayPal $PYPL reportedly drawing early takeover interest, with banks meeting the company following unsolicited approaches; stock down ~24% YTD.

• Key Events This Week: February Consumer Confidence data on Tuesday; Nvidia $NVDA earnings on Wednesday; Initial Jobless Claims data on Thursday; January PPI Inflation data on Friday.

Security and Exploits

• World Liberty $WLFI reports "coordinated attack"; claims hackers compromised cofounder accounts, paid influencers to spread FUD, and opened WLFI shorts to profit from the chaos; USD1 briefly depegged but has since recovered.

• ⭐️ ZachXBT to release new investigation on February 26th; to feature "one of crypto’s most profitable businesses where multiple employees abused internal data to insider trade..."; Polymarket projects Meteora $MET (~45%) as the crypto company.

• IoTeX's $IOTX multi-chain bridge ioTube exploited for ~$2M due to validator key compromise; offers white hat bounty to attacker; to publish compensation plan soon.

• ⭐️ Kraken lists alleged "bundled token" $WAR; Bubblemaps previously reported that WAR creator 'GaCagz' initially controlled 70% of the token supply & quietly dumped it over time.

• ⭐️ Anthropic accuses DeepSeek, Moonshot AI, & MiniMax of "industrial-scale distillation attacks"; alleges the labs created fraudulent accounts to extract Claude's capabilities to train and improve their own models.

Token Unlocks

• SoSoValue $SOSO / ~$4M / FEB 24th
• Monad $MON / ~$4M / FEB 24th
• Humanity $H / ~$14M / FEB 25th
• Plasma $XPL / ~$8M / FEB 25th
Sourced from Tokenomist

Funding

• Based raises $11.5M in Series A funding led by Pantera Capital.

• ICYMI Dragonfly raises $650M for Fund IV.

• ICYMI DBA raises $62M for DBA Fund II.

The Degen Farmer