Crypto Daily | Fed’s Waller Says Crypto Euphoria May Be Fading; Cathie Wood's Ark Invest Buys More Bullish as Stock Jumps over 16%

Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.

Crypto News

Bitcoin(BTC) Drops Below $70,000 with a Narrowed 2.03% Decrease in 24 Hours

Bitcoin has crossed the $70,000 benchmark and is now trading at $69,685, with a narrowed 2.03% decrease in 24 hours.

Ethereum(ETH) Drops Below $2,100 with a 1.18% Decrease in 24 Hours

Ethereum has crossed the $2,100 benchmark and is now trading at $2,069, with a narrowed 1.18% decrease in 24 hours.

Fed’s Waller Says Trump-Induced Crypto Euphoria May Be Fading

Federal Reserve Governor Christopher Waller said initial optimism that lifted crypto markets after President Donald Trump was elected may now be fading amid a selloff that has rattled the asset class.

“Some of the euphoria that came into the crypto world with the current administration, some of that’s kind of fading,” Waller said Monday in La Jolla, California, during a conference hosted by the Global Interdependence Center.

The Fed governor said ups and downs are common in the crypto market, and recent volatility could be driven by regulatory uncertainty and risk-management moves by larger financial firms.

Cathie Wood's Ark Invest Buys More Bullish as Stock Jumps over 16%

Cathie Wood’s Ark Invest purchased additional shares of Bullish on Monday as the stock advanced amid a broader rally in equity markets.

The firm bought a total of 57,164 Bullish shares today across three of its exchange-traded funds, worth around $1.83 million based on the closing price, according to the firm's trading disclosure.

The move followed its purchase of 393,057 shares of Bullish on Friday, valued at roughly $10.8 million. Ark also sold about $22.2 million worth of Coinbase shares that day.

Strategy Acquired Bitcoins for Average Price of ~$79K Last Week

Strategy continued its weekly bitcoin purchases, with tokens worth $90M acquired in the week ended February 8.

The figure compares with $75M worth of BTC bought in the week before.

During the period of February 2 to February 8, the bitcoin treasury company bought 1,142 tokens at an average price of ~$79K.

The bitcoin purchases were made using proceeds from the sale of 616,715 class A shares.

Bitmine Immersion Technologies Announces ETH Holdings Reach 4.326 Million Tokens

BitMine Immersion Technologies Inc. announced on Monday that Bitmine crypto + total cash + “moonshots” holdings totaling $10.0 billion.

As of February 8, the company's crypto holdings are comprised of 4,325,738 ETH at $2,125 per ETH, 193 Bitcoin (BTC), a $200 million stake in Beast Industries, $19 million stake in Eightco Holdings (ORBS) and total cash of $595 million.

Bitmine said its ETH holdings are 3.58% of the ETH supply (of 120.7 million ETH).

Stripe Valuation Set to Hit $140 Billion in New Tender Offer

Stripe Inc. is arranging a tender offer that would give the payments giant a valuation of at least $140 billion, according to a person familiar with the matter, a jump of more than $30 billion from its most recent value.

Investors said Stripe was worth $107 billion in a deal last year. Terms of the latest tender offer could change, said the person, who asked not to be identified discussing private information.

The company, one of the most closely watched potential candidates for an initial public offering, has set up frequent tenders since 2024 as a way to let employees sell shares without going public.

Jump Trading Poised to Gain Stakes in Kalshi and Polymarket

Jump Trading is set to gain small stakes in Kalshi Inc. and Polymarket in exchange for providing liquidity on the prediction-market platforms, according to people with knowledge of the matter.

The firm’s agreement with Kalshi is for a set amount of equity in the company, said the people, who asked not to be identified discussing confidential matters. The size of the stake in Polymarket will grow over time depending on how much trading capacity Jump provides to the exchange’s operation in the US, the people said.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Monday was $145 million. The total net asset value of Bitcoin spot ETFs is $90.05 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.37%.

The Bitcoin spot ETF with the highest net inflow on Feb. 9 was Grayscale Bitcoin Mini Trust, with a net inflow of $130.54 million. Followed by ARK 21Shares Bitcoin ETF, with a net inflow of 14.09 million, according to SoSoValue.

SoSoValue