Point of View: The Federal Reserve Has Over-Eased, with a 65% Chance of Stagflation in the United States

On February 26, Bitcoin ETFs recorded net inflows of $506.6 million yesterday, while Ethereum ETFs saw net inflows of $157.2 million, per data from Farside Investors.

February 26th — Per on-chain analyst Yu Jin, 11.2 billion PUMP tokens (valued at ~$21.22 million) were transferred 1 hour ago from a wallet linked to PUMP’s core treasury to Kraken. This sum accounts for 1.12% of PUMP’s total supply. Additionally, the same wallet received 20 billion PUMP (2% of total supply) from PUMP’s core treasury wallet when the token launched in July last year.

February 26: LookIntoBitcoin data shows Ethereum co-founder Vitalik Buterin has continued selling ETH, with total sales hitting 17,196 ETH (roughly $34.96 million) — exceeding his initial target of 16,384 ETH.

On February 26, Solana-based perpetual contract trading platform Pacifica (link: https://app.pacifica.fi/?referral=pacbot) announced a one-month online hackathon for developers, quant analysts, and builders to create innovative apps on its perpetual contract infrastructure. Participants can join as individuals or teams of up to 5 people. The hackathon focuses on four core tracks: - **Track 1: Trading Apps & Bots** (algorithmic trading, execution optimization) - **Track 2: Analysis & Data** (market intelligence, P&L tracking, risk dashboards) - **Track 3: Social & Gamification** (leaderboards, copy trading, competitions) - **Track 4: DeFi Composability** (building protocols/apps on Pacifica’s perpetual contract infrastructure) ### Prizes Total rewards include $15,000 in cash and 100,000 points. Breakdown: - Overall Winner: $5,000 cash + 25,000 points - Four Track Winners: $2,000 cash + 12,500 points each - Two Special Awards (Most Innovative App, Best UX): $1,000 cas

All tweets from Jane Street’s official X account were deleted on February 26.

Wall Street Journal reported that on February 24, the court-appointed bankruptcy trustee for Terraform Labs filed a lawsuit against Jane Street in the U.S. District Court for the Southern District of New York, accusing the quant trading firm of frontrunning trades using non-public insider information from Terra insiders during the Terra ecosystem collapse and profiting from it. The lawsuit alleges Jane Street established a secret communication channel with Terraform Labs’ internal staff via former intern Bryce Pratt to obtain confidential non-public information. On May 7, 2022, Terraform Labs withdrew 150 million TerraUSD (UST) from the Curve liquidity pool without prior disclosure. Jane Street followed up by withdrawing approximately 85 million UST through an associated wallet within 10 minutes—completing a frontrun before market-wide panic set in and UST fully depegged. The suit claims this illegal activity generated profits and accelerated the collapse of Terraform Labs and its e