2025, Feb 15 - Feb 21

James Fishback on X, posted that the President and Elon musk should announce a “DOGE Dividend” tax refund. Surprisingly enough Elon tweeted back and the initial hype began. Rumors spread across social media of the potential $5,000 “tax-refund” check to all Americans. Because already over $55 billion is currently saved from government fraud and overspending, the internet hopes for a firsthand “one time pay” benefit from DOGE. However, whenever a government directly injects cash into the economy, inflation follows. We can see from the 2020 stimulus check, the US faced a 40-year high in inflation, according to CNN. Andrei Jikh, a finance Youtuber, states that there wouldn’t be as much inflation as we think because it was from the old government’s wasted money.

BybIt, the world’s third biggest crypto exchange popular among traders, CEO Ben Zhou launched a live stream on Friday morning. BTC dropped 2.25% and ETH dropped down 3.14%.

He publicly announced that around $1.46 billion worth of Ethereum left wallets after being hacked making today one of the biggest exchange thefts in history. After offloading over $200 million in stake Ethereum $67.34 million in Mantle Network, and 401,346 ETH, or approximately $1.12 billion was moved by the hacker, according to a report led by blockchain analyst ZachXBT. Later this morning, Zhou posted on X, claiming that all clients are 1:1 backed and that “we can cover the loss.” He also stated that “Bybit Hot wallet, Warm wallet and all other cold wallets are fine. The only cold wallet that was hacked was ETH cold wallet. ALL withdrawals are NORMAL.” [“Hot wallets are connected to the internet, while cold wallets are disconnected to the internet.”] The Bybit Web3 ecosystem includes the Bybit Wallet cryptocurrency wallet, offering a decentralized Internet, to swap users in a convenient and safe manner. This can significantly change the short term direction of exchanges because uncertainty among crypto safety rises after a repeating theft history. According to the Economic Times, cryptocurrency holdings valued around $2.2 billion were stolen in 2024. For the fourth year in a row, more than $1 billion worth of money was taken.