Justin Sun: Li Lin Once Concealed Due Diligence Materials, I Lent the Company $30 Million to Fill the Gap

On February 19th, Bitcoin mining firm Bitdeer (BTDR) saw its shares open sharply lower, dropping 19.5%. The stock currently trades at $8.36, with a market capitalization of $1.922 billion. Market analysts attribute the decline to concerns over equity dilution tied to Bitdeer’s newly announced $300 million convertible bond offering. Earlier that day, Bitdeer said it plans to privately place $300 million in principal of 2032 convertible preferred notes, with up to an additional $45 million in purchase options for initial buyers. Net proceeds will partially cover capped call transaction costs and repurchases of its 5.25% convertible bonds maturing in 2029. The remaining funds will support data center expansion, scaling its high-performance computing and AI cloud business, researching and manufacturing ASIC mining rigs, plus working capital and general corporate needs.

On February 19, the Ethereum Foundation announced the launch of its **Platform Team**—tasked with building the most robust Ethereum platform possible to better support users, applications, and all organizations operating on Ethereum’s L1 and L2 layers, while strengthening the L1-L2 relationship to create a mutually reinforcing system across all tiers. The Foundation noted that since it first proposed a rollup-centric roadmap five years ago, a chain ecosystem has grown around Ethereum’s L1 layer. Early rollup thinking has given way to a diverse set of L2 networks, each with its own unique, valuable economic system—extending Ethereum’s core features to millions of users. As Ethereum matures, the Foundation says more steps are needed to build a unified platform that fully leverages the unique strengths of Ethereum’s L1+L2 system. These priorities include: - Boosting L2’s value proposition - Refining L2’s adoption-focused mechanisms to deliver broader value to Ethereum - Steeri

On February 19th, market data from Bitget shows major U.S. stock indexes opened lower across the board: the Nasdaq Composite fell 0.51%, the Dow Jones Industrial Average dropped 0.28%, and the S&P 500 declined 0.29%. Tech stocks saw broad declines, with Tesla down 1%, Apple down 0.7%, and Nvidia down 0.5%. U.S.-listed crypto-related stocks trended lower overall, with Riot Blockchain (RIOT) as the only gainer (up 1.97%). Other notable moves include: - MicroStrategy (MSTR): Down 2.48% - Coinbase (COIN): Down 1.13% - Circle (CRCL): Down 2.4% - MARA Holdings (MARA): Down 1.93% - Bit Digital Immersion (BMNR): Down 2.74% - SharpLink Gaming (SBET): Down 2.58%

February 19, 2026 — Minneapolis Fed President and FOMC voter Neel Kashkari noted the U.S. labor market remains quite resilient: it has shown some moderation but still stands as “decent to quite good.” Current monetary policy is moving toward neutrality, he added. Kashkari expressed optimism about artificial intelligence (AI), pointing out nearly all companies recognize the benefits of AI adoption. AI could boost productivity over the next 5 to 10 years, he said. The Fed is taking a cautious approach to internal AI use, with robust guardrails in place to prevent unauthorized access to sensitive data.

February 19 — U.S. initial jobless claims posted their biggest drop since last November on Thursday, fresh evidence the labor market is stabilizing. The Labor Department reported initial claims fell 23,000 to 206,000 for the week ended February 14, coming in below nearly all survey forecasts. Layoffs remain broadly low, and workers sidelined temporarily by late-January severe winter storms have returned to their jobs. Continuing claims, however, rose to 1.87 million last week — the highest level since early January. (Source: FXStreet)

On Thursday, February 19, Figure Technology Solutions will tokenize its stock on-chain in the form of FGRD (Figure Stock Tokens). The tokens will be issued, traded and settled on Figure’s on-chain stock and lending platform—the Onchain Public Equity Network (OPEN)—without relying on traditional clearing and custody systems. Holders of the tokenized stock will be able to participate in lending via Figure’s DeFi marketplace. This tokenized stock listing coincides with Figure’s secondary public offering (SPO), which has now been expanded to $150 million, with venture capital firm Pantera Capital participating in the deal.