Federal Reserve Governor Jefferson: No Need to Hurry to Further Cut Interest Rates, Strong Economy Makes Caution Appropriate

Feb 13: Crypto & Market Update ### Crypto - Bitcoin dipped this morning to $65,118, now rebounded to $66,245; Ethereum briefly fell below $1,900, now at $1,948; SOL dropped under $80, BNB touched $600. - Total crypto market cap: $2.347T, 24-hour drop of 0.6%. - Top altcoin losers: CHESS (-51.45%, $0.0035); DF (-44.3%, $0.00175); BERA (-19.9%, $0.73); FLOW (-19.6%, $0.039); DYM (-9.3%, $0.0048) ### US Stocks - Dow (-1.34%), S&P 500 (-1.57%), Nasdaq (-2.03%); Apple plummeted 5%, Nvidia slipped 1.64%. - Coinbase (COIN) released Q4 2025 earnings: $667M net loss, but full-year performance remained strong. - Crypto-related stocks mostly down: MicroStrategy (MSTR) (-2.44%); Circle (CRCL) (-2.07%); BitMine Immersion (BMNR) (+1.39%, outperforming); SharpLink Gaming (SBET) (-1.21%); Coinbase (COIN) (-7.9%) ### Precious Metals (Bitget Data) - Spot gold tumbled $200 intraday to $4,878.376/oz; spot silver dropped below $75/oz (steeper decline).

Coinbase released its Q4 2025 and full-year financial results on Thursday (February 13) following the U.S. stock market close, delivering mixed performance amid a broader crypto market downturn. The exchange posted a Q4 net loss of $667 million, or $2.49 per share—well above analyst expectations. Total revenue came in at $17.8 billion, marking a 5% quarter-over-quarter decline and 22% year-over-year drop, missing the market’s forecast range of $18.3 billion to $18.5 billion. Adjusted metrics told a different story: adjusted EPS of $0.66, adjusted net income of $1.78 billion, and adjusted EBITDA of $566 million. Despite Q4 pressure, Coinbase’s full-year 2025 performance was robust: - Total trading volume hit $52 trillion (156% year-over-year growth) - Crypto trading market share doubled to approximately 6.4% - Subscription and services revenue rose 23% to roughly $2.8 billion - Coinbase One paid subscribers approached 1 million - Platform assets and USDC stablecoin balan

Feb. 13 — Coinbase has officially resolved the issue that prevented some users from buying, selling, or transferring assets. The official cause of the incident remains undisclosed.

February 13: BitMEX co-founder Arthur Hayes announced he’ll return to TOKEN2049 Dubai on April 29–30 to speak on the correlation between macro misalignment and on-chain opportunities.

**Sonic Labs Issues Statement Addressing Andre Cronje, Sonic Network Comments** (Feb. 13) — Sonic Labs released a statement on Monday addressing recent public discourse surrounding Andre Cronje and the Sonic network. In 2018, a Korean team launched an ICO for Fantom (now rebranded as Sonic) but failed to deliver a functional product due to mismanagement, leading to significant fund losses. Andre Cronje joined the project in June 2018 to relaunch Fantom. At his arrival, the project’s treasury held less than $5 million in non-FTM assets—this grew to a nine-figure sum between 2020 and 2021. Sonic Labs further clarified key points: - Cronje did not design the original Fantom tokenomics, which were created by the 2018 Korean team and later modified via on-chain governance. - He does not unilaterally control or safeguard the Sonic Development Fund. - Cronje has never abandoned Fantom/Sonic; he designed the original technology, expanded funding, and continues serving as a techni

Feb. 13 — According to HTX market data, U.S.-listed stock COIN (Coinbase) saw its intraday drop widen to 7.66%, with its market capitalization falling to $38.194 billion. Earlier, Coinbase announced that users are currently unable to buy, sell or transfer funds on its platform. The company noted it is investigating the issue related to user fund security.