February 26th, there were rumors that Chinese regulators were reviewing Jane Street's trading behavior in the Chinese ETF market. However, a source close to Jane Street said, "I have no knowledge of these rumors, nor any reason to believe they are true, and these rumors should not be associated with Jane Street." This week, Jane Street, its co-founder, and two employees were accused of insider trading, fraud, and market manipulation, behaviors that were also blamed for accelerating the collapse of the $40 billion market value of the 2022 TerraUSD (UST) stablecoin and its sister token Luna.Founded in 1999, Jane Street is one of the world's largest proprietary quantitative trading firms, with a net trading income of over $20 billion in 2024 and a net profit of nearly $13 billion. Unlike hedge funds, Jane Street does not accept external client funds, so its disclosure obligations are much lower than those of traditional asset management institutions, a structure that has kept it shrouded in mystery for a long time. (Caixin)

February 26, the joint release of the "Top Player" - A Deep Analysis of the Global Cryptocurrency Asset Harvesting Operation Under U.S. Technological Hegemony by the China National Computer Virus Emergency Response Center and other departments showcased the process of the U.S. harvesting global cryptocurrency assets using technological hegemony. According to incomplete statistics, from 2022 to 2025, the U.S. has cumulatively seized global cryptocurrency assets worth over 30 billion U.S. dollars through various cases, with the asset seizure scale in just the Chen Zhi case alone reaching 15 billion U.S. dollars, accounting for 50%.The report shows that in October 2025, the U.S. Eastern District of New York Federal Prosecutor's Office announced criminal charges against Chen Zhi, the founder of the Cambodian Prince Group, on charges including telecommunications network fraud, money laundering, etc., while prominently announcing the seizure of about 127,000 Bitcoins controlled by him, valued at about 15 billion U.S. dollars based on the market price at the time, setting a record for the largest virtual asset seizure in the history of the U.S. Department of Justice.The case of Binance founder Changpeng Zhao is another typical example of the U.S. using judicial hegemony and technological monitoring means to force global virtual asset platforms to comply with its regulatory rules, achieving economic harvesting and rule output. From 2023 to 2025, the U.S. initiated a "civil + criminal" dual accountability against Changpeng Zhao, and eventually, based on a plea agreement, Binance platform paid a fine of 4.3 billion U.S. dollars."During the case investigation, the U.S. used comprehensive technological monitoring means to achieve full penetration and evidence collection of Binance's operational data, user data, and transaction data, demonstrating its technological advantage in the field of digital asset platform monitoring." Dou Zhenhua further explained that the U.S. penetrated Binance's internal servers through hacking techniques, obtained core operational data and executive communication records, confirming that Binance executives were well aware of U.S. regulatory rules but intentionally evaded compliance requirements.

February 26th, the market speculation around Jane Street has once again triggered a discussion on the Bitcoin spot ETF trading mechanism. Analysts pointed out that the creation and redemption of spot ETF shares can be facilitated by Authorized Participants (APs) under a regulatory exemptive order framework, without necessarily requiring immediate buying or selling of Bitcoin on the open market; in cases such as futures contango, APs may also hedge through futures and other derivative products, leading to a timing mismatch between ETF fund inflows and spot market buying pressure and short-term price action.Reports cited industry insiders stating that the above mechanism is a common and legitimate operation of ETFs, and does not directly imply misconduct by any single institution, but it also reflects that Bitcoin price discovery is increasingly influenced by institutional trading venues (such as the futures market). (Decrypt)

February 26th, according to on-chain analyst Ai Auntie (@ai_9684xtpa), two addresses have accumulated a total of 120,000 ETH in long positions, currently with an unrealized gain of $5.622 million.Address 0xa5b…01d41: Holding 70,000 ETH, average entry price $1,991.53;Address 0x6C8…D84F6: Holding 50,000 ETH, average entry price $2,012.11.

February 26th, according to public information, in July 2025, the Securities and Exchange Board of India (SEBI) issued an interim ban on Jane Street Group, accusing it of manipulating the Indian index (such as the Bank Nifty index) through high-frequency trading strategies.The SEBI allegation stated that Jane Street on derivative expiration dates manipulated the index by buying underlying stocks and futures in the spot market to drive up the index, and then profited on options (causing small investors to trade at unfavorable prices). SEBI froze about 4.843 billion rupees (approximately $565 million) of assets and prohibited Jane Street from trading in the Indian securities market.Recently, allegations of market manipulation by Jane Street have been frequently exposed. The court-appointed bankruptcy trustee of Terraform Labs has filed a lawsuit against Jane Street in the New York Federal Court, accusing it of engaging in frontrunning trades using non-public insider information provided by Terra insiders during the Terra crash and profiting from it.Furthermore, the crypto community has accused Jane Street of manipulating the market for Bitcoin ETFs and Silver ETFs through market-making.

February 26, according to Onchain Lens monitoring, Antalpha sent 1000 XAUT gold tokens to Bybit 15 hours ago (approximately $5.16 million), possibly for sale.

February 26th, according to TheEnergyMag, a fire occurred in Wenatchee, Washington, USA, suspected to be related to local Bitcoin mining activities. The local fire department has arrived at the scene for disposal, and specific loss and whether there are casualties have not been announced yet.Relevant authorities are investigating the cause of the fire and whether the mining farm complies with local safety regulations. As of now, the name of the involved mining farm and the direct cause of the fire have not been disclosed.

February 26th, according to HyperInsight monitoring, along with the market's strong rebound, the "buddy" contract finally saw a floating profit in its position, as of the time of writing, its long position's floating profit is $773,000.In addition, last night and this morning, the "buddy" closed the Bitcoin long position and continued to add to the Ethereum long position. It currently holds a 25x ETH long position, with a quantity of 6230 coins, and a liquidation price of $1926.

February 26th - Dutch Finance Minister Eelco Heinen stated that he plans to amend a controversial law passed earlier regarding the taxation of unrealized gains from cryptocurrency. The law, approved by the Dutch House of Representatives on February 12th, requires investors to pay a 36% tax on the unrealized gains of their cryptocurrency holdings, even if the assets are not sold. Heinen, in an interview with RTL Nieuws, said, "This law should not pass as it stands now. It is clear that there are issues that need to be addressed."The law still needs to be reviewed by the Dutch Senate and is not set to take effect until January 1, 2028, at the earliest. The Ministry of Finance has stated that they will reassess the content of the law and engage in discussions with the parliament to decide whether it should be entirely rewritten or partially revised. (DL News)

February 26th, Zen, head of the Solana protocol's Meteora, @realdezen, stated that since taking over in March of last year, the team has always taken insider trading risks seriously and has implemented practical protective measures.Zen described Meteora as a permissionless platform, with the team's main focus over the past 12 months being to enhance infrastructure robustness and reliability to achieve project deployment without the need for manual intervention. Therefore, the team only learned of relevant situations after some projects had already launched or been integrated. In the related prediction markets, Meteora has at one point become the most speculated object with the highest probability and ranking.

February 26, according to Coinglass data, the total value of positions liquidated across the entire network yesterday was $698 million, with short positions accounting for $5.886 billion.It is worth noting that this is the first time in over a month and a half that the value of short liquidations has exceeded that of long liquidations, with the last occurrence being on January 13.

February 26th, WLFI proposed a Governance Staking System aiming to incentivize more users to participate in governance. According to the proposal, in the future, using unlocked WLFI tokens for governance voting will require staking, with a minimum lock-up period of 180 days.The system will introduce a tiered node structure: regular stakers can receive approximately a 2% annualized reward; users staking 10 million WLFI (about 1 million USD) can become nodes, with the privilege to exchange USDT, USDC, and other stablecoins for USD1 at a 1:1 ratio; users staking 50 million WLFI (about 5 million USD) can become super nodes, gaining the opportunity to collaborate directly with the WLFI team. The proposal requires a minimum voting token of 1 billion WLFI to be valid, with a 7-day voting period. If approved, the implementation will proceed in three stages.

February 26th, according to GMGN market data, the ARC token experienced a "haircut" in its price last night and this morning, with its market capitalization falling from $131 million to $56.65 million, a 44.89% decline over 24 hours.Furthermore, according to onchainschool.pro monitoring, a whale address that received $1.7 million worth of ARC tokens started continuous selling yesterday and has sold its entire position as of the time of writing.In addition, the ARC contract saw $3.4924 million in liquidations within 12 hours, with long positions liquidated totaling $3.0054 million.

February 26th, according to an official announcement, Binance has officially launched five new official WhatsApp channels, including Mandarin Chinese, Africa, Arabic, Argentina, and Brazil channels.The announcement states that these WhatsApp-verified channels will only support one-way communication and are the only channel for Binance to enter WhatsApp in Africa, the Middle East, North Africa (MENA), Latin America, as well as the non-mainland Chinese-speaking community.

February 26th, Hut 8 announced its full-year 2025 performance, reporting a net loss of $248 million, compared to a net profit of $331.4 million in the same period in 2024; the company attributed the performance pressure mainly to an unrealized digital asset loss of about $220 million. Revenue for the same period increased to $2.351 billion (compared to $1.624 billion in the previous year).Hut 8 also emphasized that it is transitioning from a Bitcoin mining company to a power and AI infrastructure developer, signing an AI leasing agreement in 2025 with financial support from Google, with a 15-year term and a base contract value of about $7 billion, stating that the scale of the development pipeline is expected to reach 8.5GW by the end of 2025. (The Block)