Crypto Morning News: Trump's eldest son to speak at DeFi World 2025 this Wednesday; Kanye West denies selling X account to Bark
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Crypto Morning News: Trump's eldest son to speak at DeFi World 2025 this Wednesday; Kanye West denies selling X account to Bark
Several key Federal Reserve officials will speak frequently this week, as the market focuses on the core PCE price index.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Analysis: Only 44% of Bitcoin ETF inflows represent genuine long positions, over half may be arbitrage trades
According to 10x Research analysis, while spot Bitcoin ETFs have attracted $38.6 billion in net inflows since their January 2024 launch, only $17.5 billion (about 44%) represent genuine long buying.
The report indicates that more than half (56%) of the inflows may be linked to arbitrage strategies, where traders hedge ETF positions by shorting Bitcoin futures.
Kanye West denies selling X account to Bark
On February 24, Kanye West responded to a screenshot posted by Bark (@barkmeta) suggesting control over his account, clearly stating, "This is fake, I don’t know this person. Randomly following people was fun 10 years ago, but now as a wealthy individual who’s been deceived by so-called 'friends,' crypto scam opportunities have reached new heights."
Kanye further emphasized that when he truly launches a cryptocurrency project, it will be announced formally and explicitly. Previously, several crypto KOLs pointed out anomalies suggesting Kanye’s account might have been sold, including the system interface switching from dark to light mode and newly following Doginal-related accounts.
Bybit launches “Bounty Recovery Program,” offering rewards up to 10% of stolen funds
According to an official announcement, Bybit has officially launched its “Bounty Recovery Program,” calling on elite professionals worldwide in cybersecurity and crypto analytics to help trace the perpetrators behind the largest theft in crypto history.
Contributors who successfully recover funds will receive a 10% reward, with total bounties calculated based on verifiable recovered amounts of over $1.4 billion worth of stolen ETH at the time of the incident. If all funds are recovered, the total bounty could reach up to $140 million.
Individuals or organizations interested in participating in the “Bounty Recovery Program” should send emails to: [email protected]
Weekly macro outlook: Key Fed officials to speak extensively; market eyes core PCE price index
According to Jin10 News, several key Federal Reserve officials will speak intensively this week, including Logan (2026 FOMC voter), Governor Barr, Balakrishnan and Bostic (both 2027 FOMC voters).
The January Fed meeting minutes revealed that officials require further evidence of declining inflation before considering rate cuts and expressed concerns about potential inflationary impacts from new tariff policies proposed by the Trump administration. Following strong CPI data, this week’s release of the U.S. core PCE price index will be a focal point for markets.
Foreign media surveys indicate economists generally expect the Fed’s first rate cut to be delayed until July. Comerica Bank economists noted that due to tariffs, a strengthening labor market, and congressional extensions of tax cuts, long-term interest rates in 2025 may remain at current levels.
Trump Jr.: To deliver speech at DeFi World 2025 this Wednesday
Donald Trump Jr., eldest son of former President Donald Trump, announced on social media that he will deliver a speech at the DeFi World 2025 conference this Wednesday (February 26).
FTX creditor representative: Users from China, Russia and four other regions currently ineligible for payouts; Chinese users account for 8%
Sunil, representative for FTX creditors, disclosed that many FTX claimants come from jurisdictions currently excluded from distribution, including Russia, China, Egypt, Nigeria, and Ukraine. FTX is reviewing possible solutions. Among them, Chinese users are the largest group, accounting for 8% of total customers.
Kanye West plans to issue YZY token, retaining 70% share personally
Renowned rapper Kanye West plans to launch a cryptocurrency token named YZY. According to three insiders familiar with the project, Kanye will personally retain 70% of the token allocation, 10% will go toward liquidity provision, and 20% to investors. The YZY token will serve as the official currency of the Yeezy brand, usable for payments on its website.
On February 22, Kanye West posted on X, “All tokens right now are fake. I’m launching next week.”
Montana House rejects bill proposing state Bitcoin reserves
According to Cointelegraph, the Montana House voted 41-59 to reject a bill (HB 429) that would have added Bitcoin to the state’s reserve assets. The bill aimed to create a special revenue account investing in precious metals, stablecoins, and digital assets with an average market capitalization exceeding $75 billion over the past year—currently qualifying only Bitcoin. Several Republican lawmakers argued the investment was too risky for taxpayer funds.
CZ: Leaning toward using donation address funds to provide liquidity and give back to the community
CZ updated on social media regarding considerations for using funds in his donation address: "I might combine approaches. Let's see which combination works best.
Many suggest donating to charities—I support that. I like doing charity with crypto. My requirement for charity is that the receiving organization must accept crypto and allow tracking to the final beneficiary. Transparency. Suggestions welcome.
Some 'other projects' suggest burning received tokens. I understand the intent.
Airdrops involve the most wallet management effort, and choosing recipients often sparks more 'debate.'
Some suggest adding to LP. I did some testing yesterday. I think I might finally have figured it out. From this address, the MEV experience was quite accurate. Great learning experience. An interesting weekend exercise. I know I'm just a few years late.
Currently, I’m leaning toward doing more to support liquidity. I don’t care whether the funds in this address make or lose money. I think it’s also an indirect way to give back to our community."
Ethereum core developer: Ethereum rollback nearly impossible, could trigger irreversible chain reactions
In response to Bybit’s February 21 hack resulting in a $1.5 billion loss, Ethereum core developer Tim Beiko stated that although some in the crypto industry have called for rolling back the Ethereum network to pre-attack conditions, such an action is technically almost impossible.
Beiko emphasized that unlike the 2016 TheDAO hack, this attack did not violate Ethereum protocol rules. A rollback would cause widespread and irreparable chain reactions, potentially causing more damage than the hack itself. Additionally, a rollback would reverse all settled on-chain transactions but could not undo off-chain transactions.
Data: SUI, OP, ZETA and other tokens face major unlocks this week
According to Token Unlocks data, SUI, OP, ZETA and other tokens will undergo significant unlocks this week:
Sui (SUI) will unlock approximately 22.97 million tokens at 8:00 AM Beijing time on March 1, representing 0.74% of current circulating supply, valued at around $77.6 million;
Optimism (OP) will unlock approximately 31.34 million tokens at 8:00 AM Beijing time on February 28, representing 1.93% of current circulating supply, valued at around $36.7 million;
ZetaChain (ZETA) will unlock approximately 44.26 million tokens at 8:00 AM Beijing time on March 1, representing 6.48% of current circulating supply, valued at around $15 million;
AltLayer (ALT) will unlock approximately 240 million tokens at 6:00 PM Beijing time on February 25, representing 9.41% of current circulating supply, valued at around $11.6 million;
dydx (DYDX) will unlock approximately 8.33 million tokens at 8:00 AM Beijing time on March 1, representing 1.14% of current circulating supply, valued at around $6.7 million;
Sleepless AI (AI) will unlock approximately 18.21 million tokens at 8:00 AM Beijing time on March 1, representing 14.01% of current circulating supply, valued at around $5.1 million.
Market Update
Suggested Reading
Analyzing the hacking methods and unanswered questions behind Bybit’s near $1.5 billion theft
This article details the hacker techniques behind the largest theft in crypto history: laundering funds through multi-address transfers and cross-chain swaps, with some assets linked to North Korean hacking group Lazarus. Although mETH Protocol successfully recovered part of the stolen assets, most funds remain in motion.
Stealing another $1.5 billion in crypto—how did North Korea cultivate world-class hackers?
This article explores how the world’s most isolated nation—North Korea—has built such formidable strength in the digital battlefield. Jang Se-yul, a trainee from Bureau 121, reveals the hidden stories behind North Korean hackers. In an era where keyboards replace missiles, these cyber soldiers’ keystrokes have become a sword of Damocles hanging over cryptocurrencies.
Sonic ecosystem takes off—what projects should you watch?
Sonic is experiencing a revival, with ecosystem tokens broadly rising and overall TVL doubling within a week. Beyond its strong native DeFi offerings, much traffic also stems from founder AC (Andre Cronje) actively promoting the ecosystem. This article covers high-potential projects within Sonic’s DeFi and Meme sectors and explains participation methods.
What can you do on Berachain? A comprehensive look at mainnet key applications and yield strategies
This article provides a practical overview of Berachain’s DeFi, GameFi, SocialFi, and MemeFi ecosystems, exploring nearly everything available on Berachain. It also interprets the upcoming POL consensus mechanism (Proof-of-Liquidity) and discusses potential opportunities.
SBF’s latest prison interview: FTX never went bankrupt, only faced a liquidity crisis
Based on Sam Bankman-Fried’s prison interview, this article outlines his views on FTX’s collapse, legal battles, U.S. political dynamics, and the future of the crypto industry. He insists FTX never went bankrupt, only suffered a liquidity crisis, criticizes the FTX bankruptcy trustee and U.S. judicial system for unfairness, calls his case a “victim” of political struggle, and cautiously expresses hope for a potential pardon from President Trump. He also shares personal reflections, including his fall from being one of the world’s richest men.
This article records an interview with Feng Wuxiang, detailing his journey and successful experiences investing in both crypto farming and Meme sectors. He emphasizes that success lies in consistently focusing on “positive expected value” activities and favoring larger-cap, higher-certainty coins. He also advises avoiding excessive competition to maintain sustainability in long-term investing.
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