📌 The Next FTX?

5. FTX Begins Repaying Billions to Customers

Two years and three months since FTXs infamous collapse, creditors are beginning to receive repayments that, when all is said and done, could reach $16 billion. Yesterday, the first $1.2 billion was eligible for those with claims <$50k. Rumors are circulating that only about $400 million was KYCd or not resold to hedge funds, etc. So two questions emerge: 1) how much of the $1.2 billion will flow back into the crypto markets? and 2) Into what tokens will it flow? Once we know the answers to these two questions, we can predict where the other ~$15 billion of repayments will end up.

4. Is the LIBRA $200MM insider trading scandal the next FTX?

“It feels a lot like the first days of the Terra/Luna collapse, before FTX, Silvergate, and Three Arrows Capital unwound on their bad leverage, fake tokens, and the stealing of customer funds… We have not faced the 60% drawdowns in the major coins like BTC and ETH. But this may come.” (Read more here)

3. Mind Control

A “whistleblower” known as “Hu Lezhi” burned over 600 ETH ($1.6 million) and donated another 711 ETH ($1.9 million) to WikiLeaks – just to air allegations of “nano-brain-computer chips” controlling citizens. Claiming to be a former quant at Chinese hedge fund Kuande Investment, the sender accuses bosses of using “mind-control weapons” on employees. Yep — hard to vet this one. But screw it, let’s keep this week rolling. Jack Dorsey is Satoshi. SOL insiders are frauds. Fort Knox is empty. And, alas, the CCP is mind controlling its citizens.

2. Fold (FLD) Rises 30% on Market Debut

On the company’s first day of trading on the Nasdaq, Fold jumped more than 30% before being halted. While today’s trading has been volatile, the company’s successful debut is a positive signal for other crypto companies debating whether now is the right time to go public.

1. SOL FUD Growing

Solana’s market cap has now shed close to $20 billion since February 14 – with token prices down ~18% – as chaos swirls around President Javier Milei’s LIBRA token. Several other memecoins have also crashed along the way, raising liability concerns across the network and fueling negative sentiment around the memecoin casino, also known as pump•fun. What’s more? A major token unlock, worth ~$1.9 billion, tied to the FTX Estate, is scheduled for March 1, prompting investors to front-run expected sell pressure.