Trump Jokes: Chose Powell Because He Looked Like "Out of a Movie," Will Sue Him If No Rate Cut
February 1 — Donald Trump delivered a keynote address at the Alfalfa Club’s annual black-tie dinner Saturday night, where he reportedly mocked attendees sarcastically during the closed-door event.
According to attending sources, Trump told the audience of business leaders and Washington elites that he chose Wash because the latter “looks like he walked out of a movie.” He added that if Wash does not lower interest rates once elected, he will sue him.
Later that evening, when asked about the remarks aboard Air Force One, Trump said it was “just a joke” and that no nomination commitment had been received from Wash. “I could do it if I wanted to, but I didn’t,” he noted. (Wall Street Journal)
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Tokyo Hong Kong Yen Heist Surges, Cryptocurrency Exchange Shop Staff Arrested for Alleged Embezzlement
February 1 – According to Caixin, in less than 24 hours between January 29 and 30, two large-scale robberies targeting cash in Japanese yen occurred in Tokyo, Japan, and Hong Kong, China—cities traditionally viewed as safe.
The Tokyo case involved approximately 420 million yen (roughly 19 million Chinese yuan), while the Hong Kong robbery netted around 51 million yen (about 2.29 million Chinese yuan).
Within six hours of the incidents, Hong Kong police arrested three robbery suspects who were trying to leave the country at Hong Kong International Airport on robbery charges. Officers also detained two store employees at a crypto exchange shop in Tsim Sha Tsui: a 28-year-old local man and a 29-year-old man from mainland China. The pair is suspected of helping the robbers launder part of the stolen cash.
Initial intelligence suggests the linked Japanese companies may have brought yen cash to Hong Kong to exchange for Hong Kong dollars, then used the funds to buy duty-free goods t
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Bhutan's Sovereign Wealth Fund Sells Over 25,000 Ether During Morning Dip to Deleverage
On-chain data from February 1st shows an address tied to Bhutan’s sovereign wealth fund Druk Holdings actively sold stETH (staked Ethereum) this morning during Ethereum’s flash crash (around 2:30 AM ET) to avoid liquidation.
The transaction timestamp aligns with Ethereum’s short-term low of $2243. The address is estimated to have sold roughly 25,816 ETH in a short window, while simultaneously repaying a USDT loan on the Aave protocol.
As of press time, the account’s health factor on Aave stands at 1.10. It holds 78,245.7949 stETH and still owes $137.8 million in USDT loans.
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Tom Lee: 10/11 Event Deleveraging Impact Greater Than FTX Insolvency, Caused by a Certain CEX Pricing Vulnerability Triggering Cascade Liquidation
**Thursday, February 1st**
Tom Lee told listeners on this week’s *The Compound* podcast that the current crypto bear market stems from the largest deleveraging event in the sector’s history since last October—one even bigger than the FTX collapse.
A pricing exploit on a trading platform sparked a chain reaction of automatic liquidations, wiping out over 2 million global accounts, eliminating 1/3 of liquidity providers (LPs), inflicting heavy balance sheet losses on the platform, and leaving the entire ecosystem “hobbled” (per the 46–48 minute mark of the episode).
Lee added selling pressure hasn’t fully abated: the 2022 market recovery took 8–12 weeks, but no clear rebound signals have emerged yet.
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Rug Pull: $86.01M Stolen from Crypto in January 2026
Pe Shield reported on February 1 that the cryptocurrency sector saw 16 hacking incidents in January 2026, with combined losses totaling $86.01 million.
This marks a 1.42% year-over-year decrease from the $87.25 million in losses recorded in January 2025. However, it represents a 13.25% jump from the $75.95 million lost in December 2025.
Separately, losses from phishing attacks remain staggering, exceeding $300 million in total.
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Peter Brandt Suggests Bitcoin Could Fall to $58K in Recent Post
Feb. 1st: Renowned trader and chart analyst Peter Brandt—who correctly predicted the 2018 Bitcoin crash—hinted this morning that Bitcoin could drop to $58,000. The attached chart shows BTC hovering near the lower bound of a logarithmic channel, pointing to a continued bear market.
Yesterday, Brandt forecast Bitcoin will bottom out and rebound between August and October, then rally sharply.
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