K33 Research: Lack of Data Support for "Jane Street 10 AM Flash Crash" Narrative

Binance Research noted in a social media post on February 26 that Bitcoin’s leverage ratio has surged to its highest level since last November—price declines have outpaced the deleveraging process. This passive leverage increase signals the market is at a peak pressure point, pointing to a potential short-term bottom as deleveraging slows and liquidity tightens gradually.

Binance Picks Greece as EU Regulatory Hub Ahead of MiCA Deadline Binance Co-CEO Richard Teng noted Greece’s workforce and safety conditions gave it an edge over bigger financial centers in the firm’s choice of a European regulatory base. The crypto exchange applied last month to operate in Greece under the EU’s Crypto Asset Market Regulation (MiCA) framework. Under MiCA rules, crypto firms must secure a license by July 2026 to keep operating in the EU. While Germany has issued 45 licenses and the Netherlands 22, Greek regulatory data shows no approvals have been granted yet—making Binance’s pick particularly notable.

On February 26, according to Bitget market data, Circle (CRCL) — the issuer of the USDC stablecoin — has bucked the trend with a 7.47% gain amid a broad downturn in the crypto market and crypto-related stocks, last trading at $89.51.

**February 26** The U.S. Attorney’s Office for the Middle District of Florida announced on February 26 that Christopher Alexander Delgado, former CEO of crypto investment firm Goliath Ventures, has been arrested on charges tied to an alleged $328 million Ponzi scheme. Delgado faces wire fraud and money laundering charges, each carrying a maximum 30-year prison sentence, per the office’s statement. According to the indictment, Delgado lured victims by pitching investments in a crypto liquidity pool with promised monthly returns—but diverted funds to pay early investors, purchase luxury homes, and cover lavish personal expenses. The monthly returns investors received came from money contributed by later victims, not legitimate profits. Law enforcement has confirmed that affected victims will receive restitution notices.

February 26: Axiom promotional partner Devin issued an apology on social media, acknowledging he took a reputational risk and had no way of knowing ZachXBT would expose Axiom. Previously, Devin posted multiple times to support Axiom and shared screenshots telling the community he’d bet on the "NO" option for Axiom on Polymarket (meaning the exposed firm wouldn’t be Axiom). 21 hours ago, Devin posted: “Here’s some free insider info—Axiom isn’t the company named in ZachXBT’s investigation. The NO option for Axiom on Polymarket is basically free money.”

**February 26 Crypto Stock Moves: Mixed Performance Amid U.S. Market Open (Bitget Data)** U.S. stock markets opened on February 26 with the following moves (per Bitget market data): - Dow Jones Industrial Average: +0.35% - S&P 500 Index: -0.04% - Nasdaq Composite: -0.28% Crypto-related stocks showed mixed performance, with key changes: - Coinbase (COIN): +0.34% - Circle (CRCL): +1.94% - MicroStrategy (MSTR): -0.36% - Gemini (GEMI): +0.65% - Bit Digital (BTBT): +0.37% - SharpLink Gaming (SBET): Unchanged - ETHZilla (ETHZ): -1.02% - ALT5 Sigma (ALTS): -1.32% - American Bitcoin (ABTC): Unchanged - Kindly MD (NAKA): +3.27% - Solana Co (HSDT): -6.45% This rewrite follows U.S. financial news conventions: concise headlines, clear bullet points, and straightforward language (using "up/down/unchanged" for brevity, common in market updates). Duplicate/conflicting entries for Bit Digital (BTBT) are resolved to the first reported move (consistent with standard