On February 9th, Mechanism Capital co-founder Andrew Kang posted: “We’re in one of the most extreme asymmetric moments in history. The only sound strategy right now is to extend your time horizon and abandon short-termism entirely. Obsessing over a bubble is foolish—so is trying to time the market. Short-term volatility and corrections are inevitable, but when we’re this close to the singularity, they’re just noise. We’re on the cusp of exponential breakthroughs in AI, robotics, energy, and innovation. The future will bring billions of AI agent workers, humanoid robots, space data centers, interplanetary colonization, and drastically improved medical therapies—all fundamentally accelerating the pace and output of technological progress across fields over the next decade. Over the next 20 years, we’ll compress more technological advancement and economic growth than all of human civilization’s history combined.” We’re already on the steep part of the J-curve, but it’s hard to sp

On February 9, per LookOnChain monitoring data, a freshly created wallet acquired 47.6 million WLFI at an average price of $0.109. The wallet also holds 4.83 million USDC and may continue buying.

On February 9, Cointelegraph reports that Tether has allocated profits from its stablecoin operations to 140 investments spanning sectors including agriculture and sports, and aims to grow its workforce to 450 employees.

February 9: A operational mistake at cryptocurrency exchange Bithumb caused an erroneous reward distribution to 249 users. The platform incorrectly entered 620,000 Korean won as 620,000 bitcoins, mistakenly sending out crypto worth 600 trillion Korean won. While 99.7% of the assets have been recovered, 125 bitcoins remain unreturned—valued at roughly 13 billion Korean won. Over 80 people have cashed out the mistakenly received bitcoins: about 3 billion Korean won went to personal bank accounts, and another 10 billion won was used to buy other cryptos. Bithumb is now reaching out to affected users to request the funds back. For users hit by market swings, Bithumb plans to fully cover any price differences from selling, plus an extra 10% compensation, and waive one week of transaction fees.

On February 9, The Block reported that Bitcoin plunged more than 20% this week in a sudden drop. While prices have since partially recovered, several crypto fund managers said the drop caught them off guard. Zaheer Ebtikar, founder and CIO of Split Capital, noted: “I don’t think almost anyone truly expected panic selling of this scale to hit so fast.” The common take from many interviewees is that the issue wasn’t a single specific trigger—but the speed of the market collapse: a rapid shift in sentiment, spiking panic indicators, massive spot selling triggering cascading liquidations, and a chain reaction of declines. Ray Hindi, co-founder and managing partner at L1D AG, said: “Many TradFi-linked themes were noticeably overstretched and trading crowded in January. The subsequent intense deleveraging and pullback will send shockwaves to the crypto market, which still faces severe unresolved structural issues from the October 10 liquidation event.” He added the decline also reflect

February 9th — Per GMGN’s monitoring on the Solana blockchain, the meme coin PENGUIN has rebounded from a roughly $18 million market cap low yesterday to its current $30.8 million valuation. It’s currently trading at ~$0.0308, with a 24-hour gain of 66% and ~$14.5 million in trading volume over that span. BlockBeats notes that meme coin trading is extremely volatile—largely driven by market sentiment and hype, with no tangible value or use case. Investors should exercise caution.