BizwavemediaPersonal Finance and Crypto Updates

Bitcoin’s price on Bithumb, one of South Korea’s largest crypto exchanges, suddenly dropped 10% below global market prices today, after an exchange employee accidentally distributed 2,000 BTC to hundreds of users during an airdrop, according to Dumpster DAO core member Definalist.

It looks like hundreds of users got that accidental 2,000 BTC. It’s a total comedy of errors—apparently, a staff member meant to give out 2,000 KRW as a random box prize but typed BTC instead. Crazy to think that exchanges can still do paper trading like this, even in 2026
lmao https://t.co/RGwXzbUBDN pic.twitter.com/fEnfxAWhJO

— Definalist (@definalist) February 6, 2026

According to the analyst, a staff member tried to distribute 2,000 Korean won (KRW) worth less than $2 as a random box prize but entered BTC by mistake.

Recipients of the erroneous Bitcoin deposits quickly sold the assets at market price, triggering immediate downward pressure on Bithumb’s BTC trading pairs relative to other exchanges.

Bitcoin’s price on Bithumb has rebounded to above $66,000 (KRW 98 million), up from a low of around $56,000 (KRW 82 million).

Charles Hoskinson has lost over $3 billion in crypto but has chosen to stay committed, regardless of recent market losses, the founder of Cardano said during a Thursday livestream.

“It’s easy for you to say, Charles, you’re rich. You can ride it out. I’ve lost more money than anyone listening to this, over $3 billion now,” Hoskinson said. “It’d have been real easy to cash out. Just walk away. And do you think I honestly care if I lose it all? Do you think I’m doing this for money? You’re pretty mistaken if you do.”

Hoskinson emphasized that he is not motivated by personal gains and has avoided major scandals like the FTX fallout or the Epstein files by consistently turning down questionable opportunities and prioritizing integrity over access or influence.

He previously criticized some industry leaders for accepting the flawed CLARITY Act in exchange for power, wealth, and elite status.

Commenting on market conditions, Hoskinson encouraged the crypto community to endure the “red days” and focus on collaboration and continued development.

“It’ll get worse. It’ll get redder. It is what it is. But at the end of the day, are you having fun? Find a way to. And know that each and every one of you in the cryptocurrency space, you’re doing something that matters. You’re doing something that has the potential to change the world,” he said.

On Cardano, Hoskinson expressed optimism about the project’s infrastructure, governance, and future commercialization despite the downturn, with projects like Hydra, Leios, and Midnight showing development progress.

Hoskinson co-founded Ethereum before leaving the project in 2014. He launched Cardano in 2017 through IOG with a focus on scientific research and sustainable blockchain design.

In his remarks last night, Hoskinson also praised Ethereum co-founder Vitalik Buterin and Solana co-founder Anatoly Yakovenko as allies in advancing crypto adoption.

Crypto traders faced one of the most brutal resets on Thursday after Bitcoin’s free fall wiped out roughly $2.7 billion in leverage positions in the last 24 hours.

As the panic escalates, the Crypto Fear and Greed Index, which tracks investor sentiment using factors such as volatility, trading volume, and Bitcoin’s dominance, has fallen to 9, its lowest reading since June 2022.

Bitcoin is trading above $65,000, reflecting a roughly 10% decline in the past day. Bitcoin has trimmed some of its losses after briefly testing the $60,000 level, but analysts warn that capitulation risks are rising as most BTC supply is now underwater.

According to Gerry O’Shea, Head of Global Market Insights at global crypto asset manager Hashdex, Bitcoin has been pressured by global uncertainty linked to AI, geopolitics, and macroeconomic conditions, which has driven investors away from risk assets.

He said investors still favor gold as a store of value, but expects Bitcoin’s “digital gold” narrative to strengthen over time as adoption grows and regulation becomes clearer.

“We believe, however, that despite this recent drawdown, Bitcoin will continue to increase its appeal as ‘digital gold’ in portfolios as more institutions allow access to BTC and more individuals understand its thesis as a non-sovereign, immutable asset,” O’Shea said in a Thursday note.

“In the near term, we expect continued price volatility to track alongside important developments such as the integration of digital assets into financial infrastructure, increasing regulatory clarity, and traditional platforms giving their clients access to Bitcoin and other digital assets,” he stated.

The analyst believes that meaningful progress on the CLARITY Act could support a market recovery in the months ahead, voicing confidence in Senate efforts to pass the bill this year.

Strategy reported a $12.4 billion net loss for the fourth quarter of 2025 as it announced its financial results Thursday, with Bitcoin falling to $64,000 amid a sharp crypto market downturn.

The report follows one of Bitcoin’s worst trading days since the October 2025 flash crash, with the asset falling more than 12% on the day. The drawdown puts Strategy’s 713,502 BTC holdings deep underwater, translating to a $7.5 billion paper loss based on the company’s disclosed $76,052 average cost per coin.

The selloff hammered Strategy’s stock price, which fell 17% to $106, erasing year-to-date gains and bringing it near levels last seen in August 2024.

Despite the volatility, Strategy emphasized its long-term commitment to Bitcoin-backed credit. “We raised $25.3 billion of capital in 2025 to advance our Bitcoin treasury strategy,” said CEO Phong Le, adding that 41,002 BTC were acquired in January 2026 alone.

The company’s USD Reserve now stands at $2.25 billion, providing more than 2.5 years of dividend and debt coverage. Its STRC credit product has reached $3.4 billion in issuance with an adjustable 11.25% dividend rate designed to maintain price stability.

Alphabet posted its fourth quarter 2025 earnings after the bell on Wednesday, delivering results that came in above Wall Street expectations. Despite the beat, the stock tumbled as much as 7% on Thursday morning, opening near $312 before recovering to around $322 by midday, still well below its $332 close ahead of the report.

The company reported revenue of $113.8 billion and earnings per share of $2.82, topping analyst estimates of $111.2 billion in revenue and $2.57 in EPS.

The initial selloff appears tied to Alphabet’s capital expenditure forecast of $175 billion to $185 billion for 2026, which sparked concern among investors that AI infrastructure spending could outpace monetization in the near term.

Despite the market reaction, analysts responded positively to the report. The strong results and continued rollout of Alphabet’s Gemini AI model across Search, Ads, and Workspace led to a wave of upgraded price targets.

JPMorgan raised its GOOGL target to $395 from $385, Barclays to $360 from $315, and Canaccord to $415 from $390. KeyBanc increased its target to $370, and Pivotal Research now holds the highest at $420, up from $400. Piper Sandler raised its forecast to $395 from $365.

While the short-term reaction was negative, Wall Street’s outlook remains bullish as Alphabet leans further into its AI and cloud investment cycle.

BlackRock, the world’s largest asset manager, deposited around 5,080 Bitcoin worth approximately $358 million and 27,196 Ethereum valued at about $57 million into Coinbase Prime this morning, according to Arkham Intelligence data.

The transfers came as Bitcoin continued to weaken after breaking below $71,000 yesterday. The digital asset dipped to $69,200 at the time of reporting, down 22% in the last 7 days, per TradingView.

The movements follow a pattern of large transfers earlier in the week, usually followed by big inflows and outflows. They do not automatically signal withdrawals, but market watchers pay close attention as crypto markets remain volatile.

IBIT, BlackRock’s spot Bitcoin ETF launched in January 2024, recorded approximately $373 million in net outflows on Wednesday, while US spot Bitcoin ETFs collectively saw $545 million in single-day outflows.

Crypto markets saw over $1 billion in leveraged liquidations in 24 hours, with long positions taking the bulk at about $897 million.

Bitcoin is now down over 20% year-to-date in 2026. Ethereum has fared worse, falling roughly 30% since January.

Strategy, the world’s largest crypto treasury firm, has seen unrealized losses on its Bitcoin holdings reach $3.8 billion amid a sharp market downturn that drove the crypto asset below $71,000.

The recent sell-off, falling on Michael Saylor’s birthday, sparked $777 million in liquidations in 24 hours, largely from long bets.

Bitcoin has declined roughly 19% so far this year and now trades at levels last seen around the 2024 election, TradingView data shows.

Strategy holds 713,502 BTC acquired for approximately $54.3 billion at an average price of around $76,000 per coin.

MSTR shares are also under pressure, closing Wednesday down 3% at $129 and slipping further in after-hours trading. The stock has dropped over 70% since its July 2025 peak and 15% so far in 2026.