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

On Feb 11, per LookOnChain monitoring, a whale address 3NVeXm deposited 2,500 BTC to Binance an hour ago — valued at roughly $172.56 million.

As of February 11, Robinhood has announced via official sources that its developer-focused Robinhood Chain testnet is now live, enabling builders to construct infrastructure on the network. Robinhood Chain is reportedly a finance-grade Ethereum Layer 2 network built on Arbitrum, engineered to support real-world assets. Per the announcement, the initiative aims to speed up the growth of on-chain financial services—kicking off with tokenized real-world assets and digital assets. Developers can now build on Robinhood Chain’s core infrastructure and test use cases ahead of the mainnet launch.

February 11th — Bitget market data shows U.S. equities closed Tuesday’s session with mixed early moves: the Dow Jones Industrial Average (Dow) was up 0.1% initially, while the S&P 500 fell 0.3% and the Nasdaq Composite dropped 0.59%. Cryptocurrency-related stocks were broadly lower, with the following notable moves: - Coinbase (COIN): Down 2.83% - Circle (CRCL): Down 0.58% - MicroStrategy (MSTR): Down 3.93% - Gemini (GEMI): Down 7.72% - Bit Digital (BTBT): Down 3.87% - Strategic Elements (BMNR): Down 6.99% - SharpLink Gaming (SBET): Down 6.47% - ETHZilla (ETHZ): Down 7% - ALT5 Sigma (ALTS): Down 6.21% - American Bitcoin (ABTC): Down 4.76% - Kindly MD (NAKA): Down 4.91% - Solana Co (HSDT): Down 6.64%

On February 11th, Hyperliquid’s HIP-3 permissionless perpetual contract market reported a daily trading volume of $5.2 billion on February 5th—its highest single-day record since the protocol launched in October 2025. As the leading market maker on HIP-3, TradeXYZ holds nearly 90% of total trading volume via its perpetual contracts across precious metals, stock indices, and individual stocks. TradeXYZ’s silver perpetual contract alone generated $4.09 billion in volume on February 5th, accounting for roughly 68% of that day’s total HIP-3 activity. This surge is tied to the commodity’s price volatility, which has drawn traders seeking alternatives to crypto assets.

JPMorgan analyst Ken Worthington cut his Coinbase price target to $290 from $399 on Feb. 11, ahead of the crypto exchange’s Q4 earnings report due this Thursday. Worthington noted he’s still bullish on the stock— the revised target implies 75% upside from Coinbase’s current $165.5 share price. He forecasts adjusted EBITDA of $7.34 billion, down from Q3’s $8.01 billion, marking a sharp sequential decline driven by lower trading volume, softer crypto prices, and slower USDC stablecoin balance growth. Worthington projects Q4 spot crypto trading volume at $2.63 trillion. He also flagged a drop in circulating USDC and sees stablecoin-related revenue at $3.12 billion. Those headwinds are partially offset by revenue from Deribit— the crypto derivatives exchange Coinbase acquired last August— which contributed to full-quarter results. Including Deribit, JPMorgan’s model forecasts total trading revenue of $10.6 billion— with Deribit contributing ~$1.17 billion from an estimated $586 bi