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🌙 Bitcoin Drops to $83,000 as Crypto Selloff Enters Third Day

Crypto markets dropped for a third day as the selloff across global markets accelerated.

Author

Mike Gavela
February 26, 2025

Crypto Roundup - February 26

In recent crypto news, Bitcoin's price dropped to $83,000 amidst a continuing selloff entering its third day, highlighting market volatility. Meanwhile, Safe Wallet has been identified as responsible for a massive $1.5 billion hack on ByBit, raising security concerns across digital asset platforms. In a noteworthy comeback, Zac Prince, former CEO of the now-defunct BlockFi, has returned to the crypto industry, joining Galaxy Digital as a managing director, despite his previous company's controversial collapse.

Top Stories

  • Bitcoin Continues to Fall: Prices have plummeted to $83,000 as part of an ongoing market selloff.

  • $1.5 Billion Crypto Hack: Safe Wallet was implicated in a significant security breach at ByBit.

  • Zac Prince Back in Crypto: After BlockFi's failure, Prince returns to crypto finance with a new role at Galaxy Digital.

TOP STORIES

Bitcoin Drops to $83,000 as Crypto Selloff Enters Third Day - "The Defiant"

In the past 24 hours, ETH, SOL and XRP are down another 5%, 6% and 2%, respectively.

thedefiant.io/news/markets/bitcoin-drops-to-usd83-000-as-crypto-selloff-enters-third-day

Safe Wallet Found Responsible for ByBit’s $1.5 Billion Hack - "The Defiant"

Binance founder CZ criticized Safe after ByBit’s audit revealed the point-of-failure exploited by North Korean hackers.

thedefiant.io/news/hacks/safe-wallet-found-responsible-for-bybit-s-usd1-5-billion-hack

BlockFi’s Zac Prince has returned to work in crypto

Mike Novogratz’s crypto conglomerate Galaxy Digital has hired ex-BlockFi founder Zac Prince as a managing director.

protos.com/blockfis-zac-prince-has-returned-to-work-in-crypto

FUNDRAISING

Raise nets $63 million in round led by Haun Ventures to build out crypto platform for gift cards

George Bousis, founder and CEO of Raise, wants to put your $100 Walmart gift card on the blockchain.

fortune.com/2025/02/26/exclusive-raise-nets-63-million-in-round-led-by-haun-ventures-to-build-a-crypto-platform-for-gift-cards

OTHER HEADLINES

Gotbit founder extradited to US to face market manipulation and fraud charges

Aleksei Andriunin was allegedly part of a wash trading scheme to facilitate token listing in major exchanges.

cryptoslate.com/gotbit-founder-extradited-to-us-to-face-market-manipulation-and-fraud-charges

Bank of America CEO says it’s ‘pretty clear’ lending giant will develop a stablecoin

CEO Brian Moynihan's plans are a game changer. Now lawmakers have to step up to pass meaningful legislation. Still, some tempered expectations around banks issuing stablecoins.

www.dlnews.com/articles/markets/bank-of-america-ceo-says-lender-will-develop-a-stablecoin

Story Protocol’s IP Token Leads Altcoin Market - "The Defiant"

The newly released IP token has tripled over the last week.

thedefiant.io/news/blockchains/story-protocol-s-ip-token-leads-altcoin-market

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