Invest ideasNews
21 Feb 2026, 06:00
Convicted FTX Founder Sam Bankman-Fried Breaks Silence On ‘10 Myths’
Sam Bankman-Fried has once again taken to social media from prison, laying out what he describes as “10 myths” surrounding the collapse of crypto exchange FTX and his subsequent conviction. The former chief executive used the statement to challenge prosecutors, the bankruptcy process, media coverage, and even the conduct of his trial. Sam Bankman-Fried Denies FTX Insolvency Bankman-Fried began by disputing the allegation that FTX was insolvent and that $8 billion in customer funds vanished. He contrasted statements made by prosecutors to jurors with representations made by bankruptcy debtors to the court, and that his claim of solvency was false and that he had lost billions in customer money. Media reports, he said, reinforced the message that the funds were gone. In his version of events, however, FTX was solvent and is now repaying customers between 119% and 143% of their claims. Bankman-Fried also rejected persistent rumors about a lavish corporate culture. Addressing allegations of “polycule orgies,” Bankman-Fried flatly denied that such conduct took place. He insisted he did not party or take vacations, noting that while FTX owned a penthouse, he personally rented only 10% of it for six months for $50,000. He maintained that his personal spending and political donations were funded from his earnings and were less than those earnings. Secret ‘Backdoor’ For Alameda On the events leading to FTX’s bankruptcy, Bankman-Fried pushed back against the narrative that he filed because he could not meet surging withdrawal demands. According to him, there were offers to cover the liquidity shortfall and stabilize the platform. He claimed that within three days, financing proposals were on the table and withdrawals had begun to resume, but that lawyers nonetheless proceeded with the bankruptcy filing. The former FTX CEO also addressed the structure of the exchange’s trading platform, Alameda Research , saying it was unrealistic to expect a margin exchange to be fully liquid at all times. Margin trading, he explained, involves customers — including Alameda Research — opting into lending and borrowing through a shared collateral pool. He asserted that most assets on the exchange were part of this lending program and that FTX had sufficient liquidity to cover assets outside of it. Another key accusation he disputed was that he created a secret “backdoor” in FTX’s systems to siphon funds to Alameda. Bankman-Fried denied that such a mechanism existed, saying the account features in question had legitimate purposes and were not used to allow Alameda to borrow more from customers than it had lent. Pardon Hopes Fade A significant portion of his statement focused on his trial. Bankman-Fried claimed he did not receive a fair hearing, arguing that once the Department of Justice (DOJ) under former President Joe Biden and the bankruptcy debtors took control of FTX, they controlled the narrative, access to documents, and the pool of witnesses. Bankman-Fried also accused Judge Lewis Kaplan of restricting his ability to defend himself, including imposing a gag order, revoking his bail before trial, excluding evidence related to FTX’s solvency, and advice of counsel. Regarding the revocation of his bail, Bankman-Fried maintained that it stemmed from his exercise of First Amendment rights and attempts to assist the bankruptcy debtors, rather than from witness intimidation. The statement comes as Bankman-Fried continues to pursue a new trial in New York. Speculation that he might receive a presidential pardon from President Donald Trump — similar to the one granted to former Binance CEO Changpeng Zhao — has largely faded. Featured image from OpenArt, chart from TradingView.com
21 Feb 2026, 06:00
Bithumb $43 Billion Bitcoin Blunder Triggers Political Backlash In South Korea
South Korean lawmakers are ramping up pressure on financial regulators after a system failure at Bithumb, the country’s largest cryptocurrency exchange, led to the accidental distribution of more than $43 billion worth of Bitcoin (BTC) earlier this month. The February 6 incident has triggered political scrutiny of both the exchange itself and the agencies responsible for overseeing the virtual asset market. Behind The Bithumb Massive Bitcoin Mishap According to local reporting by The Korea Times, members of the National Assembly are questioning how such a massive error could slip through despite repeated regulatory inspections. Rep. Kang Min-guk of the main opposition People Power Party disclosed that the country’s Financial Services Commission (FSC) reviewed Bithumb three times between 2022 and 2025. Over the same period, the Financial Supervisory Service (FSS) conducted three separate inspections. Yet regulators failed to detect what has now been described as a critical structural weakness in the exchange’s system. Related Reading: ‘Sell Bitcoin Now,’ Peter Schiff Warns, Predicts $20,000 Target On Breakdown Kang argued that existing oversight mechanisms were inadequate. He pointed out that safeguards were insufficient to prevent a situation in which a single employee could initiate massive coin transfers. Kang said: The episode is not merely a technical mishap but a case that lays bare deeper structural weaknesses in the virtual asset market, including complacent supervision and gaps in regulation. Instead of crediting users with Bitcoin worth 2,000 won — approximately $1.38 — the system mistakenly credited 2,000 Bitcoin per user. In total, 620,000 Bitcoin were incorrectly distributed. Rep. Han Chang-min of the minor Social Democratic Party also criticized regulators, questioning whether supervisory authorities had meaningfully evaluated the exchange’s internal systems. “Authorities appeared to be shifting responsibility onto Bithumb despite their supervisory role,” Han said. Broader Crypto Oversight In response to the incident, the FSS extended the deadline for its formal investigation from Feb. 13 to the end of the month, citing the need for additional time. An eight-member inspection team is now intensifying its review, focusing on possible violations related to investor protection and anti-money laundering (AML) compliance. Particular attention is being given to the system architecture that allowed coins not actually held by the exchange to be credited to users. Regulators have not ruled out the possibility that further erroneous distributions could be uncovered. Related Reading: House Democrats Urge Treasury Probe Into Trump Family’s Crypto Venture Separately, financial authorities have reportedly formed an emergency response team in coordination with the Digital Asset eXchange Alliance (DAXA), a self-regulatory body representing domestic exchanges. The team has begun inspections of asset verification and internal control systems at four other platforms — Upbit, Coinone, Korbit, and GOPAX. Any deficiencies are expected to be incorporated into DAXA’s self-regulatory guidelines and could influence the next phase of cryptocurrency legislation in South Korea. At the time of writing, Bitcoin was trading at $67,763, marking a 2% decline over the past seven days and showing minimal change since Thursday’s trading session. Featured image from OpenArt, chart from TradingView.com
21 Feb 2026, 01:30
Strategy CEO Calls for Rethink of Basel’s 1,250% Bitcoin Risk Capital Treatment
U.S. banking rules on bitcoin face mounting scrutiny as Strategy CEO Phong Le urges regulators to revisit Basel capital standards, warning current risk weights could hinder America’s ambitions to lead the global digital asset market. Strategy CEO Warns 1,250% Bitcoin Treatment by Basel Could Undermine America’s Crypto Ambitions Strategy (Nasdaq: MSTR) CEO Phong Le shared
20 Feb 2026, 23:00
Tron acquires 177K TRX: Why this ‘long-term’ treasury move matters
TRX strengthens at key support: Could $0.30 be next?
20 Feb 2026, 22:15
CZ Returns to US for Trump-Backed Crypto Event
Former Binance CEO Changpeng Zhao (CZ) returned to the United States this week for the first time since his release from a California federal prison in 2024. The visit took place at Mar-a-Lago in Palm Beach, Florida, where Zhao attended a 500-person convention hosted by the Trump family-backed World Liberty Financial. CZ Makes Appearance at Crypto Event A Wall Street Journal (WSJ) report revealed that the gathering brought together prominent figures from finance, technology, and entertainment. Guests included Goldman Sachs CEO David Solomon, New York Stock Exchange president Lynn Martin, “Shark Tank” personality Kevin O’Leary, and Coinbase founder Brian Armstrong, who had also attended a smaller VIP dinner on Tuesday evening alongside Trump’s sons and CZ. Rapper Nicki Minaj, who has publicly supported the Trump administration, also held a “fireside chat” on that day. Posting on X during the occasion, Zhao shared a photo of himself listening to a top federal crypto regulator, writing, “Learned a lot.” CZ, whose crypto exchange has been barred from operating in the U.S. since 2023 for violating anti-money-laundering rules, pleaded guilty to a related charge that same year. He was then sentenced in April 2024 to four months in prison and officially released in late September after serving his term. Later in October 2025, the crypto entrepreneur received a presidential pardon from President Donald Trump. During a recent interview on the “All-In” podcast, Zhao said he “didn’t do anything” to secure the clemency but noted that it could help the exchange resume its efforts to return to the American market. World Liberty Unveils Ambitious Crypto Vision World Liberty’s leadership used the occasion to lay out its vision for the cryptocurrency industry. CEO Zach Witkoff described the company’s goal as creating a “new digital Bretton Woods system,” referencing the 1944 conference that established a post-war economic order. His co-founders, the Trump sons, talked about the scale of the event, with Donald Trump Jr. joking about how much it would have been unimaginable a year ago. Meanwhile, Eric Trump compared it to the World Economic Forum in Davos, Switzerland, saying it offered “better hospitality, better food, better weather, better group of people, less wokeness.” The firm also promoted its stablecoin, USD1, and outlined plans to sell digital tokens that would give accredited investors a share of loan revenues from a Trump resort under development in the Maldives. The president’s sons also addressed questions about foreign investment in World Liberty, including a $500 million deal with a senior Abu Dhabi royal, stressing that such moves are standard in global finance and unrelated to government agreements. Several other Trump administration officials were also in attendance, including Commodity Futures Trading Commission (CFTC) Chairman Michael Selig and Under Secretary of State for Economic Affairs Jacob Helberg. The post CZ Returns to US for Trump-Backed Crypto Event appeared first on CryptoPotato .
20 Feb 2026, 21:55
XRP Price Prediction: Ripple Has Been Invited to the White House — Is the US Government About to Back XRP?
Ripple is heading to the White House and if you think about it, this is crazy. The White House administration is convening a third high stakes meeting on stablecoin yields, and Ripple chief legal officer Stuart Alderoty is on the invite list alongside legal leaders from Coinbase and a16z. The focus whether stablecoin issuers should be allowed to pass interest earned on reserves directly to users. This debate has stalled key crypto legislation in the Senate. Traditional banks are pushing back hard, arguing that yield bearing stablecoins could pull deposits out of the banking system and weaken their lending power. If you don’t think crypto is the future… Pay attention to how hard traditional banks are fighting against stablecoins paying yield. It’s really that simple. — Nate Geraci (@NateGeraci) February 20, 2026 Crypto executives counter that allowing yields is a consumer benefit and essential for keeping innovation inside the US rather than offshore. The fact that Ripple has a seat at the table matters. It signals that policymakers are not sidelining major crypto players. Instead, they are actively engaging them as legislation takes shape. That does not mean the US government is about to endorse XRP directly. But it does suggest that regulatory clarity around stablecoins and digital assets is moving closer. XRP Price Prediction: Is That Retest Or Deeper Pullback? XRP pushed above the upper boundary of the descending channel but failed to hold it, getting rejected near the $1.61 zone and slipping back down. That kind of move usually signals unfinished business. Price is now drifting back toward the channel structure, potentially retesting it from the inside. Source: XRPUSD / TradingView If XRP fully falls back into the channel, it could trigger a move toward $1.30 support. A deeper breakdown below would expose $1.10 again, but for now that remains a secondary scenario. Failed breakouts often lead to one more sweep lower before a stronger push. If XRP stabilizes and forms a higher low inside or just at the edge of the channel, it would build pressure for another breakout attempt. A decisive reclaim of $1.50, especially with momentum expanding, would confirm the channel break and shift focus toward $1.90 and beyond. Maxi Doge Standing Out As One Of The Best Meme Coins In 2026 Maxi Doge ($MAXI) is not waiting on legislation or regulatory clarity. It is built for narrative velocity. Bold meme identity. High-conviction positioning. Community-driven momentum that thrives when sentiment rotates away from slow institutional plays and toward asymmetric upside. Early traction is already strong. The $MAXI presale has raised around $4.6 million so far, with staking rewards offering up to 68% APY for early participants. If blue chips are stuck proving themselves on the chart, Maxi Doge is positioned for the phase where attention shifts and moves get fast. Visit the Official Maxi Doge Website Here The post XRP Price Prediction: Ripple Has Been Invited to the White House — Is the US Government About to Back XRP? appeared first on Cryptonews .
