Crypto Pericles

On February 23, 2026, Todd Snyder, the bankruptcy administrator for Terraform Labs, filed an 83-page lawsuit in Manhattan federal court against Jane Street Group, co-founder Robert Granieri, and employees Bryce Pratt and Michael Huang (or Hwang).The suit accuses Jane Street of insider trading, front-running, market manipulation, and misusing non-public information to profit from and accelerate the May 2022 collapse of TerraUSD (UST) and LUNA, which erased about $40 billion in value!
Key Factors and Timeline (May 7, 2022):
Terraform quietly withdrew $150 million in UST from Curve's 3pool (a major liquidity pool).Minutes later (9 minutes), a wallet linked to Jane Street dumped $85 million in UST in one massive trade, the largest single UST transaction at the time.This intensified selling pressure, triggered panic, accelerated UST's depeg from $1, and sparked the hyperinflationary death spiral in LUNA.
The complaint alleges Jane Street obtained material non public information via back channel ties (including ex-Terraform employee Bryce Pratt) and used it to unwind large UST exposure "mere hours" before the full crash, avoiding major losses and potentially profiting.
Jane Street's Response:
The firm called the claims "desperate" and "baseless," a transparent attempt to extract money. The allegations remain unproven. This suit is part of ongoing efforts to recover funds for creditors in Terraform's bankruptcy (filed 2024, wind-down ongoing).
It revives debate over the Terra crash's causes previously blamed mainly on design flaws and panic selling by alleging sophisticated front running contributed to the speed and severity. Outcomes could take years, with damages uncertain...
#TerraformLabs #LUNA #USDT

Crypto Twitter lit up on Feb 23-24, 2026, after reports claiming Eric Trump deleted several World Liberty Financial ($WLFI ) and crypto related posts on X right as the project's USD1 stablecoin briefly depegged (dipping to $0.98 on some exchanges) and WLFI token dropped 8%!
WLFI blamed a "coordinated attack": hacked co-founder accounts, paid influencers spreading FUD, and massive shorts to profit from the chaos. The stablecoin recovered quickly thanks to its 1:1 backing and mint/redeem mechanism, with the team declaring the attack a failure...
Speculation exploded, some called it "sus," predicting a rug pull or insider exposure (tying into upcoming ZachXBT reports). Others shared screenshots claiming "the internet is forever" and accused Trump insiders of bailing.
Eric Trump fired back directly on X: "You were a clown. I’ve been tweeting about Crypto all week. I was the keynote speaker at the @worldlibertyfi conference two days ago. Don’t be a fool." His bio still shouts @WorldLibertyFi, and recent posts promote USD1's growth (e.g., expanding exchanges, real-world use, transparency via proof-of-reserves) plus other crypto news like a Maldives tokenized resort.
The deletions? Likely limited (e.g., a retweet about new Binance pairs), not a full purge, classic crypto FUD amplification during volatility. WLFI pushed forward strong, highlighting resilience in a high profile, politically tied project. Typical degen drama, but the Trump crew stays bullish!
#TRUMP #USD1 $WLFI

Ethereum co-founder Vitalik Buterin has been actively selling portions of his ETH holdings in February 2026, amid a broader decline in Ethereum's price (which has fallen significantly, with recent drops over 5% in short periods and reports of up to 30% in context)!
These sales are part of a preannounced plan to allocate funds toward Ethereum ecosystem development, research, open source initiatives, and grants, rather than personal profit or a bearish exit.
Buterin publicly outlined intentions to sell from a specific allocation of 16,384 ETH for long term support of the network. On-chain tracking platforms like Lookonchain, Arkham Intelligence, and Onchain Lens have monitored the activity from associated wallets (e.g., 0xfEB016D0D14AC0Fa6d69199608B0776d007203B2). Sales have occurred in batches, often via protocols like CoW to minimize market impact.Key Reported Sales in February 2026:
Since February 2: Cumulative sales of approximately 8,651–8,800 ETH, totaling around $16–$18 million (average price ~$2,077–$2,100 per ETH). This represents the executed portion of the 16,384 ETH plan, leaving a remaining balance.February 22: Withdrew 3,500 ETH ($6.95 million at the time) from the DeFi protocol Aave; sold portions including 571 ETH ($1.13 million) shortly after, and additional smaller amounts like 428.57 ETH (~$850,000) converted to stablecoins (e.g., GHO).Past 2 days (as of February 22–23 reports): Sold 1,694–1,869 ETH, valued at approximately $3.31–$3.67 million.
These transactions have coincided with increased market volatility, heightened trading volume, and short-term downward pressure on ETH's price.
However, Buterin's remaining holdings are substantial estimated at over 224,000–240,000 ETH (valued around $415–$467 million), indicating the sales are a small fraction of his overall position and aligned with transparent, ecosystem focused intentions rather than a full divestment.
Community and analysts continue to monitor on-chain data for further developments...
#ETH $ETH #Buterin

The U.S. Supreme Court delivered a major setback to President Donald Trump's economic agenda on February 20, 2026, ruling 6-3 that his sweeping global tariffs, imposed under the International Emergency Economic Powers Act (IEEPA), exceeded presidential authority and were unlawful!
Chief Justice John Roberts wrote the majority opinion, stating that the 1977 law did not grant the president power to unilaterally impose broad import levies on nearly every trading partner. The decision invalidated most of the tariffs enacted last year, potentially opening the door to billions in refunds for importers who paid the duties (estimates from prior collections exceed $130-200 billion, though the Court did not address repayment details).
In a defiant response, Trump denounced the justices as "fools" and "disgraceful," then swiftly imposed a new 10% across the board global tariff under alternative trade laws, set to take effect soon. This ruling reduces immediate trade war escalation and policy uncertainty that had weighed on global markets...
Impact on Cryptocurrency The decision provided short term relief to risk assets, including crypto. Bitcoin briefly surged about 2% post-ruling (climbing above $68,000 before pulling back), and the broader market saw a "relief bounce" as eased trade tensions boosted investor sentiment and liquidity expectations.
Key factors influencing crypto:
Reduced inflation and trade uncertainty, Tariffs had fueled inflation fears and economic slowdown risks, pressuring risk-on assets like cryptocurrencies. Striking down the broad tariffs eases these pressures, supporting higher liquidity flows into volatile markets such as Bitcoin and altcoins.Market volatility dynamics, Previous tariff threats (e.g., escalations with China) triggered massive liquidations and sell-offs in crypto, wiping out billions due to leveraged positions. The Court's invalidation removes a major uncertainty driver, potentially stabilizing sentiment and encouraging inflows.Political and policy implications, While modest in direct impact so far, the ruling shifts focus in Washington, possibly freeing bandwidth for crypto-friendly policies (e.g., regulatory clarity or innovation support). However, Trump's pivot to new tariffs introduces ongoing uncertainty, tempering gains.
Overall, the ruling favors a positive near-term outlook for crypto by curbing aggressive protectionism, though traders remain watchful of the administration's next moves and potential retaliatory actions from trading partners...
#BTC #ETH #AltSeasonComing

In a recent post on X, Elon Musk spotlighted the fundamental mission of xAI: to advance scientific discovery and deepen humanity's understanding of the universe.
Through its AI chatbot Grok, xAI emphasizes truth seeking above political correctness, while embracing principles such as appreciating beauty, uncovering the laws of physics, and ultimately extending consciousness across the stars. This reaffirmation arrives shortly after SpaceX's acquisition of xAI in early February 2026, a landmark move that merged the rocket pioneer with Musk's AI venture into what he described as "the most ambitious, vertically, integrated innovation engine on (and off) Earth." The deal unites rockets, space-based internet, communications, and advanced AI, with a bold vision of deploying orbital data centers powered by unlimited solar energy to fuel explosive AI growth beyond Earth's constraints. Musk has framed the acquisition as a pivotal step toward cosmic-scale ambitions, including building self-sustaining bases on the Moon, civilizations on Mars, and broader expansion into the universe!
By harnessing space for AI compute, the combined entity aims to accelerate breakthroughs that could unlock profound insights into physics, existence, and perhaps even the search for extraterrestrial life.Reactions on X have been mixed: supporters praise the grand, forward-thinking scope, while critics question Grok's unfiltered style or the practicality of such interstellar goals.
Nonetheless, the development underscores Musk's long standing drive to tackle humanity's biggest questions, both scientific and philosophical.
As xAI evolves under SpaceX, its pursuit of understanding the universe remains at the heart of the endeavor, blending cutting edge AI with the dream of becoming a multi planetary species.
Ad astra — to the stars!
#ElonMuskTalks #Musk

Gold advocate Peter Schiff is warning that Bitcoin could crash to $20,000 if it breaks below $50,000, an 84% drop from its all time high of $126,000!
In recent X posts, he urged investors to "sell Bitcoin now," citing hype, leverage, institutional ownership, and a $1.3T+ market cap as amplifying risks.
Bitcoin currently hovers around $67,000, down from its peak amid ETF outflows and volatility, but still well above his key breakpoint.
Schiff has made similar bearish calls for over a decade, predicting Bitcoin's collapse or death since it traded below $300!
THe declared Bitcoin "dead" at least 20–22 times since 2010 (ranking him as the most frequent skeptic), with community estimates exceeding 200 overall bearish predictions.
Nearly all have been wrong as BTC surged past levels he dismissed, including $1,000, $10,000, $50,000, and $100,000. Critics often joke his dire forecasts act as contrarian buy signals, marking bottoms rather than tops.
While he highlights real risks, his track record suggests skepticism toward his crash calls. Verify current prices independently,markets move fast.
#BTC $BTC