HLP Treasury Settles "BTC OG Insider Whale" $700M Long, Profits Around $15M

February 26th — Per Coinbob Popular Address Monitor (https://t.me/Coinbob_track_CN), Nvidia reported a 73% year-over-year revenue surge in its morning earnings release today, beating analyst expectations. The stock jumped above $200 at 5 AM ET, climbing over 4% before paring all gains. Ahead of the earnings announcement, several top on-chain traders on the Hyperliquid platform had already taken positions in NVDA (Nvidia) synthetic contracts. Among them, addresses tied to CBB (X: @Cbb0fe), 0xRay (X: @0xRay518), and Continue Capital held tens of millions in NVDA positions. Latest holding updates: - 0xRay (X: @0xRay518): Currently the largest on-chain NVDA long, holding a $16.53M long position. Average entry price: $190; floating profit: $406K; no position cuts yet. - CBB (X: @Cbb0fe): Yesterday’s largest on-chain NVDA short, sharply reduced position today — short size dropped from $10.5M to $5.96M, average price $188. - Continue Capital-linked addresses: Hold $10.02M long posit

February 26th — Jane Street, a leading global quantitative trading giant, has an extensive footprint in the cryptocurrency space, with core focuses on infrastructure, decentralized finance (DeFi), and crypto mining. Public records indicate Jane Street’s investments in native crypto projects include ZetaChain, Arbitrum, 1inch, Euler Finance, Membrane Labs, Kaito, and Vest Exchange, among others. On the equity side, Jane Street significantly boosted its stakes in several crypto mining companies through the secondary market between 2024 and 2026: it holds roughly 5.4% of Bitfarms (BITF), 5% of Cipher Mining (CIFR), and 5% of Hut 8 (HUT). Additionally, Jane Street participated in multiple rounds of Kraken’s financing last year. It is also a major liquidity provider and shareholder of Coinbase.

On Feb 26, Coinglass data shows Coinbase’s Bitcoin Premium Index flipped positive yesterday (Feb 25) at 0.0159%—ending a 40-day streak of discounts—before turning negative again today, though the gap has narrowed to -0.0033%. This signals warming buying sentiment in the U.S. market. BlockBeats Note: The Coinbase Bitcoin Premium Index measures the spread between Bitcoin’s price on Coinbase (a top U.S. exchange) and the global market average. It’s a key indicator for tracking U.S. capital inflows, institutional investment enthusiasm, and shifts in market sentiment. A positive premium means Coinbase’s price is above the global average, typically signaling: strong U.S. buying interest, active inflows from institutions or compliant funds, ample USD liquidity, and broadly optimistic sentiment. A negative premium (Coinbase price below the global average) usually reflects: notable U.S. selling pressure, reduced investor risk appetite, rising market risk aversion, or capital outflows.

**Thirdweb CTO & Co-Founder Jake Loo Resigns to Go All-In on AI (Feb 26)** Jake Loo, co-founder and CTO of Web3 development tool platform thirdweb, announced his resignation on February 26. In a statement, Loo said: “At thirdweb, we’ve built and deployed multiple AI agents across our product and organizational structure. I’ve watched AI evolve from a ‘nice-to-have’ to a transformative technology that fundamentally changes how we work. This experience shifted my mindset—nothing feels more critical right now than AI. This isn’t hype: it’s brought tangible changes to how software is built and used, how teams operate, and how the entire industry is restructuring. So I’m going all-in.” ### Notes on American English adaptation: 1. **Conciseness**: Used casual contractions (*we’ve, I’ve, I’m*) common in informal-to-semi-formal statements (natural for a founder’s announcement). 2. **Flow**: Split long sentences for readability (e.g., separated the “shifted mindset” clause with an

February 26: On-chain analyst Ai Auntie (@ai_9684xtpa) reports that address 0xAb5…0b767 has purchased 7,008.8 ETH on-chain over the past 5 hours at an average price of $2,075, totaling $14.54 million in value. This marks the first time the address has accumulated ETH.

February 26 — The Office of the Comptroller of the Currency (OCC) today released a proposed rule implementing the GENIUS Act and is seeking public comment, per crypto journalist Eleanor Terrett. The framework will establish baseline rules for OCC-regulated charter stablecoin issuers and foreign payment stablecoin issuers, while also covering certain custody activities. OCC Acting Comptroller Jonathan Gould noted the rule aims to create a system where stablecoins can “thrive in a safe and sound manner.” Notably, the rule does not currently include provisions for the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) or the Office of Foreign Assets Control (OFAC); those matters will be addressed separately following coordination with the Treasury Department.