When your Bitcoin hideout gets exposed

Plus: One wallet update you don’t wanna click on…

GM. Crypto can feel like a fruit bowl: a bit overripe, a little squishy, but we’ve picked out the pieces worth taking a bite of.

⚖️ A crypto payments platform founder tried to hide 450 BTC.

🍋 News drops: alert to Phantom wallet users, the Hawk Tuah girl broke her silence… and then went silent again + more

🍍 Market flavor today

Investors are kinda like this emoji rn: 🙂 Is it a genuine smile or the hide-the-pain kind? Could be either, as the Fear & Greed Index is in Neutral.

And this kind of a meh mood isn’t out of nowhere – market prices are still in red today.

Trader Jelle summed it up – yes, BTC isn’t doing much, but there’s important stuff happening under the surface:

• The Trump pump hype is slowing down;

• Funding rates are dropping – lower funding rates suggest fewer people are willing to pay extra to keep their long positions open. That usually means a slowdown in bullish sentiment;

• Open interest (OI) is dropping – this measures the number of active futures contracts. A decline means traders are closing positions or getting liquidated, often signaling uncertainty or a pullback from leveraged trading;

• DXY is falling – this index measures the strength of the US dollar compared to other major currencies. When DXY drops, it means the dollar is weakening, which usually makes riskier assets like crypto more attractive.

These factors make Jelle think that the market’s in a shakeout phase (where weak hands sell) + the macro environment is improving fast, so new highs should be coming.

And what’s up with macro?

January’s jobs report supports the whole “soft landing” narrative, which keeps the Fed on track to cut interest rates in 2025.

Lower rates = cheaper borrowing = more money flowing into riskier assets like Bitcoin.

And hey, if you’re still not convinced – take a look at US States. They continue working to incorporate Bitcoin into their financial strategies:

• Utah’s Strategic Bitcoin Reserve bill passed the House and is now heading to the Senate (so, it might be the first state with an official BTC reserve);

• Missouri, Kentucky, and Iowa have all introduced their own proposals, bringing the total number of states considering a Bitcoin Strategic Reserve Fund to 17.

Meanwhile, across the Atlantic, Czech President Petr Pavel signed a major crypto law that:

• Defines tax regulations for crypto transactions;

• Provides a more stable legal framework to encourage investment;

• Guarantees licensed crypto companies access to bank accounts.

Overall, this development brings much-needed clarity to the industry.

So, Bitcoin might look like it’s stuck in place – but things are moving fast behind the scenes, and the long-term outlook still seems 🚀

🥝 Memecoin harvest

These tokens are turning FOMO into an Olympic sport ⁨💪

	Name		24H Change
	smol pepe PEP		▲ 7.5K%
	Test TST		▲ 4.6K%
	TYGA TYGA		▲ 4K%
	MEMDEX100 MEMDEX		▲ 42%

Data as of 05:00 AM EST.

Check out these memecoins and plenty more here.

Apparently, everybody and their motha want a crypto ETF. Here’s the list of assets with ETF filings that we previously talked about, and now, here are the latest additions:

• Franklin Templeton wants a multi-asset crypto ETF tracking Bitcoin and Ether;

• Cboe BZX Exchange filed for four spot XRP ETFs;

• Grayscale’s Solana ETF just got acknowledged by the SEC – a first for a coin they once called a “security”;

• Also, Grayscale is pushing to list its Litecoin Trust as an exchange-traded product on the NYSE;

• And because 2025 isn’t weird enough, Trump Media is looking to trademark a Truth(.)Fi Bitcoin Plus ETF. Yes, really.

Imagine you steal an apple from your roommate. You hear them coming, so you panic and shove it in a drawer to hide the evidence.

But then… you forget about it. Weeks later, your whole room stinks because of that stupid apple. And the worst part? You never even got to eat it.

Now, take that situation and multiply it by a million. Except, no need to imagine anything this time – I’m about to tell you exactly how that went down.

Back in 2020, two Canadian brothers, Firoz and Ferhan Patel, got locked up for running Payza, an illegal crypto payments platform. Firoz got 36 months, and Ferhan got 18.

As part of the sentence, they also had to give up any assets they gained from Payza.

Firoz told authorities he had only $30K in a retirement account. And in that moment, deep down, he was definitely feelin’ like this:

Cuz all that was a LIE 😈

Right before going to prison, Firoz started quietly consolidating Payza’s 450 BTC – worth over $43M – and tried to deposit it with Binance. This didn’t work tho’, because Binance flagged the deposit and shut his account down in April 2021. Strike one.

But you know what our boy Firoz isn’t? A quitter!!

He then opened an account at Blockchain(.)com under his dad’s name and tried to move the Bitcoin there. That wasn’t successful either – the exchange flagged the funds and froze them. Strike two.

At this point, most people would take the L, but Firoz had one more trick up his sleeve. He got a Payza associate to send a fake ID to the exchange, hoping to unlock the funds. If that plan had worked, he would’ve walked out of prison with 450 BTC, all chill and everything.

But actually, the authorities were onto him. While still serving his sentence, Firoz found out he was under investigation – so he convinced someone to pretend to be an attorney and trick US prosecutors into delaying his new charges so he could get out, flee to Canada, and escape justice.

Told you he wasn’t a quitter.

Too bad for him, the feds were one step ahead. And they were mad (probably, idk).

So instead of walking free, Firoz just earned himself an extra 3 years and 5 months in federal prison + three years of supervised release + a $24M forfeiture + the 450 BTC seized.

Moral of the story: always think whether you really need the apple.

🍋 News drops

🚨 Scammers are baiting Phantom wallet users with fake pop-ups disguised as legit update requests. If you fall for it and enter your seed phrase, they’ll empty your wallet!

👍 Federal Reserve Governor Christopher Waller is all for stablecoins – as long as they come with solid regulations. He believes they’ll boost the dollar’s global reach and solidify its status as a reserve currency.

🤨 Hailey Welch, aka the Hawk Tuah girl, is back after her memecoin disaster. She briefly uploaded a new Talk Tuah episode, then deleted it – not fast enough, tho’, as it had already got leaked.

🏈 Mythical Games’ Super Bowl promo for the NFL Rivals game dropped exclusive Kansas City Chiefs and Philadelphia Eagles NFT cards. Players can get 30 new cards and compete in Hero Events to earn rewards.

🧃 Sip of love

Valentine’s Day is creeping up fast. If you have a special someone and forgot, you’re welcome for the reminder. If you’re single, sorry for not adding a trigger warning.

But hey, whether your true love is a person or just your crypto, we’ve got the perfect gift. Complete the new BitDegree Mission, “Surprise Your Valentine With Trezor”, and get a discount on Trezor bundles.

Cuz nothing says “I love you” like keeping assets safe 🥰

🍌 Juicy memes