MicroStrategy bought another 2,530 $BTC($243M) at an average price of $95,972 last week!

**Dragonfly Partner Haseeb’s X Post (Feb 11):** Heard plenty of folks this week saying current market sentiment is worse than back when FTX collapsed. Nah, it’s not even in the same ballpark—just classic recency bias. FTX’s collapse was crypto’s deepest despair since Mt. Gox: a true systemic meltdown. Back then, we didn’t know what else might survive—let alone if it’d trigger a de facto global crypto ban. Nobody knew when the industry might bounce back; some feared the whole space could hibernate. Bitcoin’s price has dropped since October, no doubt—that’s tough. But let’s be real: crypto’s fundamentals are totally solid. The system held up to stress; global regulation’s improving; institutional/corporate adoption keeps growing; prediction markets are unusually active; perpetual contract DEXs just hit an all-time high in volume; stablecoin adoption is exploding. It’ll take time, but we’ll be okay.

**Crypto Analytics Firm Bubblemaps Accuses X Longform Contest Winner of Meme Token Pump-and-Dumps** On February 11, Bubblemaps released an analysis claiming Beaverd — winner of X’s $1 million longform creation contest — used a public wallet to launch 10+ meme tokens, netting over $600,000 in profits. One token, SIAS, crashed to zero shortly after launch; its official account was later deactivated. Before collapsing, SIAS briefly hit a $6 million market cap, leaving users with heavy losses. Beaverd also launched 10+ other worthless meme tokens, per the report. Beaverd responded to Bubblemaps’ tweet: “Cry all you want, this isn’t even one of my top five masterpieces.” **Contest Win Context** On February 4, X named Beaverd (@beaverd) the grand prize winner. His winning article — *“Deloitte, a $740 Billion Cancer Spreading Across America”* — examines the government consulting giant’s role in federal and state IT systems. The piece racked up 44.71 million views, 29,000 likes,

February 11th — InvestingLive analyst Justin Low noted all eyes are on today’s U.S. non-farm payrolls (NFP) data, with market participants on edge for the release to guide their next moves. Traders are currently pricing in roughly 60 basis points of total Fed rate cuts this year, including a 25-bp reduction at the June meeting. Yesterday’s soft consumer data only reinforced those expectations. A stronger-than-expected NFP report today, paired with a stable unemployment rate, would signal the Fed could hold rates steady for longer. In a bullish outcome, that would sharply cut the odds of a first-half (H1) rate cut. Still, given mixed signals from yesterday’s U.S. consumer prints, it’s too soon to fully rule out additional rate cuts in June or July. — FXStreet

On February 11th, on-chain analyst Ember Ye reported that Coinbase has added Aztec (AZTEC) to its listing roadmap. The project team also tweeted yesterday to confirm the exact TGE (Token Generation Event) time: 3:00 PM Beijing time on February 12th. Back in December 2023, Aztec hosted a fully on-chain automated token auction, with 16,741 addresses participating. In total, 15% of its tokens were sold, raising 19,388 ETH (equivalent to $59.13 million). This gave the project a fully diluted valuation (FDV) of $490 million, with an average cost of $0.0473 per token. After the auction ended, 4,234.6 ETH ($12.91 million) was paired with 273 million AZTEC tokens in a Uniswap V4 liquidity pool. However, the pool remains inactive because tokens cannot be transferred before the TGE. Once the TGE goes live, this $26 million in liquidity will activate simultaneously, making AZTEC one of the top on-chain tokens with deep liquidity.

As of February 11, the probability that Bitcoin will drop to $55k this year on Polymarket has climbed to 78%. Additionally, the odds of it falling to $50k are 63%, while the chances of it rising to $80k stand at 72% and to $90k at 55%.

**SBF (via friend) claims Biden DOJ threatened witnesses; demands conviction reversal, Kaplan recusal** On February 11, Sam Bankman-Fried (SBF) posted a message (relayed by a friend with access to his account—he is currently in prison) asserting new evidence shows the U.S. Department of Justice (DOJ) under President Biden’s leadership threatened multiple witnesses to stay silent or alter their testimony. He argued his conviction should be overturned. SBF also called for Judge Lewis Kaplan to recuse himself from the motion, citing the judge’s tendency to prejudge and preordain guilt for the defendant (himself) and claiming Kaplan has intentionally made things difficult for his team, making a fair ruling impossible. The post tagged @realDonaldTrump. BlockBeats Note: SBF is currently incarcerated; the message was relayed by a friend with access to his account.