February 20th — Crypto-related U.S. stocks were broadly higher in pre-market trading, per Bitget market data. Notable movers include: Robinhood (+1.92%), Circle (+1.81%), Coinbase (+1.77%), Argo Blockchain (+1.75%), and Marathon Patent Group (+1.63%).

On February 20th, The Block reported that prediction market platform Kalshi has secured a preliminary injunction in Tennessee, barring state officials from enforcing its sports-related event contracts under the state’s gambling laws. In a Thursday ruling, U.S. District Court Judge Aleta A. Trauger sided with Kalshi on key issues, finding the company is likely to prevail in its lawsuit by arguing its sports event contracts qualify as “futures” under the Commodity Exchange Act. The injunction applies to relevant state officials, prohibiting them from taking enforcement action against Kalshi under Tennessee’s sports gambling laws while the litigation is pending.

On February 20, Bitcoin’s mining difficulty adjusted at block height 937,440 (02:54:35 Beijing time today) per data from Cloverpool. It rose 14.73% to 144.4 T, while the 7-day average network hashrate currently stands at 1.05 ZH/s.

On February 20th, Polymarket’s probability for Bitcoin rebounding to $75,000 within the year stands at 82%. Additionally, the platform pegs the odds of: - Rebounding to $80,000: 72% - Dropping to $55,000: 73% - Falling to $50,000: 62% This version uses concise, news-friendly phrasing (common in U.S. crypto updates) with clear bullet points for readability, avoids redundant "probability of" repetition, and uses natural terms like "stands at" and "pegs the odds of" that align with American English usage.

February 20 — Official sources confirm Binance Alpha will host an airdrop today at 6:00 PM UTC+8. Users with at least 251 Alpha points qualify for tokens on a first-come, first-served basis; distribution will wrap up once the airdrop pool is exhausted or the event concludes. Additional details will be released shortly.

**Hong Kong SFC Warns Public of "HOMEO Trend" Token as Suspicious Investment** On February 20, the Hong Kong Securities and Futures Commission (SFC) issued a warning to the public about the "HOMEO Trend" token—a digital asset-related investment product now added to its list of suspicious offerings. Operated and promoted by Excellent Trend Therapy (Hong Kong), the token is suspected of being offered to Hong Kong investors. Information about the product has been distributed via local seminars, with claims it will deliver investment returns. The SFC stressed the product has not been authorized for public offering in Hong Kong. Non-authorized products and their disclosure documents are not reviewed by the Commission. Investors are urged to exercise extreme caution, as such investments may lead to significant or total losses.