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

On February 23, per monitoring by HyperInsight (via the link: https://t.me/HyperInsight), Li Cheng Huang—known as "Brother Ma Ji"—has just added 2,300 ETH to his long position using 25x leverage, with an average entry price of $1,877.91. His current unrealized profit totals $5,019.

On February 23, Cointelegraph reported that Greg Cipolaro, NYDIG’s Head of Research, noted in a report that the "investable universe" in the crypto space is narrowing—focusing primarily on applications or services that "extend traditional financial products onto blockchain infrastructure." He added that beyond Bitcoin, tokenized assets, stablecoins, select DeFi infrastructure, and a handful of general-purpose blockchains (like Ethereum), "the likelihood of large-scale blockchain applications is lower than previously anticipated."

As of February 23, per 8MarketCap data, Bitcoin has slipped to 15th place in global asset market cap rankings, trailing Nvidia and Tesla. Its current market cap stands at $1.305 trillion, down 4.11% over the past 24 hours.

February 23rd – Per data from Coinglass, Bitcoin briefly dipped below $65,000 today, with major centralized (CEX) and decentralized (DEX) exchange funding rates signaling the market has shifted back to bearish territory. Specific funding rate details are available in the attached image. BlockBeats Note: Funding rates are set by crypto exchanges to align perpetual contract prices with the underlying asset’s market value. This is a capital exchange mechanism between long and short traders—exchanges do not collect this fee. It adjusts the cost or profit of traders holding positions to keep contract prices closely tied to the underlying asset. Key Rule: A 0.01% funding rate is the baseline. Rates above 0.01% indicate a broadly bullish market, while rates below 0.005% signal a broadly bearish market.

On February 23, U.S. Customs and Border Protection (CBP) announced it will halt the imposition of tariffs under the International Emergency Economic Powers Act (IEEPA) as of 12:01 a.m. Eastern Time (ET) on Tuesday, February 24 — corresponding to 1:01 p.m. Beijing Time.

On February 23, Onchain Lens monitoring revealed a whale deposited 2 million USDC into Hyperliquid and boosted its 20x-leveraged SOL long position—with open orders currently in place to expand the position further. The whale also holds an $11.14 million 20x-leveraged ETH long position.