SOL drops below $80, down 3.5% in the last 24 hours

On February 19, Bubblemaps uncovered that Hayden Davis—a key figure in the LIBRA token scam—was actually the second-largest investor in Pump.fun’s private sale round. Davis put up 50 million USDC and dumped the tokens for $65 million on listing day. While most recall Pump.fun’s $500 million public token sale in July 2025, few remember its private round included several undisclosed investors. After investing $50 million, Davis’ active on-chain address received 12.5 billion PUMP tokens at launch, valued at $73 million with a projected $15 million profit. The address was previously identified, but Davis’ ownership was only now confirmed. It remains unclear if the Pump.fun team is aware of this, but the address has clear, multiple on-chain ties to Davis.

On February 19, privacy-focused cryptocurrency Dash officially announced plans to integrate transaction shielding into its Evolution chain, leveraging Zcash’s Orchard technology to safeguard user transaction confidentiality with top-tier security and fast finality. Following the launch of its Protected Credit Pool, Dash will move forward with developing shielded tokens and adding secure protection features for token transfers. This aligns with Zcash’s Shielded Assets concept but offers more comprehensive token functionality, as Dash will use a dedicated token security protection pool. Additionally, shielded transfers are expected to roll out soon, with shielded pools for token transfers to follow.

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%