Geopolitics

U.S. Customs announced the suspension of illegal tariffs imposed by Trump under the International Emergency Economic Powers Act, but the newly imposed 15% global tariffs will take effect on February 24. The market reaction was lukewarm, and Bitcoin prices declined again. Analysts warn that if the $60,000 support level is broken, further declines may occur. In the short term, a tax refund is unlikely, and the market remains under pressure.

February 24 News, Strategy announced an additional $40 million investment in Bitcoin, despite the current market being somewhat pessimistic about Bitcoin price forecasts. The company currently holds Bitcoin worth $55 billion, with an average cost of approximately $76,020. At Bitcoin's current price of $63,000, unrealized losses amount to nearly $10 billion. Executive Chairman Michael Saylor stated that the company employs a dollar-cost averaging strategy and is not concerned about short-term price fluctuations. Recently, Bitcoin has been affected by geopolitical tensions, economic uncertainties triggered by developments in artificial intelligence, and policy changes by the Trump administration, leading to consecutive price declines. Matt Howells-Barby, Vice President of Growth at CEX, pointed out that Bitcoin could potentially drop to $50,000 in the short term. Data from DefiLlama shows that investors sold over $1 billion worth of Bitcoin ETFs in February, bringing the total ETF decline since November last year to $7 billion. Data from CF Benchmark indicates that major hedge funds reduced their Bitcoin ETF holdings by 28% between the third and fourth quarters.

On February 24, news reports indicate that amid increasing uncertainty over the United States pushing forward a new round of global trade tariff policies, Bitcoin prices have fallen below the key psychological threshold of $65,000, and market risk appetite has significantly cooled down. Data shows that Bitcoin retreated from a high of approximately $66,465 on Monday to an intraday low of $62,952, a stage decline of nearly 5%, and a cumulative retracement of about 35% from the year's high, with market sentiment turning cautious. This downward movement is closely related to the policy expectation that the Trump administration may impose an additional 10% tariff on multiple countries (potentially raised to 15% via executive order). Historical experience shows that escalating trade tensions often intensify volatility in the crypto market. The market still remembers that after the U.S. imposed high tariffs on China in 2025, the total market value of cryptocurrencies shrank significantly within two months, and Bitcoin's sensitivity to macro shocks once again became a focus.

The cryptocurrency market continues to be sluggish, with Bitcoin falling below $63,000 and the panic index at an extreme fear level. Global stock markets have declined due to AI and geopolitical risks, while precious metals are favored. Tensions between Trump and Iran have escalated, and new tariff policies have triggered market panic, boosting risk aversion. Analysis indicates that the Bitcoin market needs to restore demand, and liquidity is expected to gradually recover.

Bitcoin plummeted over 5% due to rising global tariffs and increased Middle Eastern geopolitical risks, breaking below the $63,000 psychological level. It has declined a total of 27% this year. Market analysis suggests that this drop is driven by a risk sentiment reset rather than a crisis unique to the crypto market. Changes in the macro liquidity environment will continue to impact the performance of crypto assets.

February 24 News, the U.S. Federal Reserve has officially advanced a regulatory proposal to end the "debanking" of the crypto industry and has opened a 60-day public comment period on related banking regulatory rules. This move is seen as an important signal of a shift in U.S. financial regulatory policy, and the crypto industry generally believes it could weaken the long-standing banking service restrictions that have troubled digital asset companies. According to official statements, the proposed rules aim to remove "reputational risk" as a core basis for banks to review clients from the regulatory framework, instead focusing on "material financial risk." Regulators have previously instructed banking authorities not to require financial institutions to close customer accounts solely based on reputational concerns, which means that legitimate crypto businesses may receive clearer institutional protections when opening bank accounts and accessing financial services.

The Aftermath of the Terra collapse of 2022 is not finished yet. In the present case, Terraform Labs has sued Jane Street based on insider trading in connection to the dramatic collapse of TerraUSD and LUNA. As per the filing, a wallet associated with Jane Street had effected a huge sell-off of

Trump Peace Committee plans to launch a USD stablecoin in Gaza to rebuild the local damaged payment system and prevent Hamas funding flows. However, the plan currently faces challenges due to the lack of a regulatory framework and has raised concerns within the industry. The plan needs to collaborate with digital currency professionals and establish secure digital infrastructure.

An investment company in Tsim Sha Tsui, Hong Kong, that provides cryptocurrency settlement services, has approximately 20 clients who have reported their USDT accounts being hacked starting from January 2026. The total loss amounts to 2.67 million USDT, equivalent to about 20.87 million HKD. After an investigation, the police arrested 34-year-old network engineer Cai on February 23 on suspicion of theft. He is suspected of unauthorized access to the company's database and viewing customer account information.

President Trump plans to implement a 0% capital gains tax on all Bitcoin and cryptocurrency investments. Once this policy is enacted, it will fundamentally change the investment cost structure of the cryptocurrency market and have a profound impact on retail investors, institutional investors, and industry talent allocation. The policy details are still to be clarified, including the scope of applicable assets and holding period requirements.

XRP closed down 2.95% on February 23, trading at $1.3522, hitting a three-week low, with the overall crypto market plunging 3.80%. Anthropic's Claude Code has sparked market concerns over AI disrupting tech stock profits; Trump immediately imposed an additional 10%–15% tariff globally following the Supreme Court ruling, adding dual pressure that dragged down the entire crypto asset sector.

According to the Financial Times of the UK, the Gaza Reconstruction and Peace Committee established by U.S. President Trump in January 2025 is currently in the preliminary discussion stage, exploring whether to issue a dedicated stablecoin as a fundamental tool for digital economic transactions among Gaza residents after the war. An insider said that the related stablecoin is positioned as a digital transaction medium, neither a replacement for fiat currency nor similar to meme coins, but the report did not specify which entity would be responsible for issuing the coin if the plan moves forward.

Currently, the Ethereum (ETH) market is experiencing a deep correction, mainly due to capital outflows and technical adjustments. Institutional investors are highly risk-averse, with whale sell-offs and founder holdings reduction intensifying market panic. The Ethereum Foundation has adopted a defensive financial strategy to ensure funding for technological development, while also planning internal network reforms to address centralization risks. Regulatory pressure is also increasing, as the EU is about to implement strict compliance standards that could impact the DeFi market. Overall, Ethereum is going through a phase of short-term pain coupled with long-term structural adjustments.

MicroStrategy (MSTR), the world's largest Bitcoin institutional holder, CEO Michael Saylor recently publicly refuted the quantum computing threat theory, stating that the cybersecurity community generally believes that credible quantum attack capabilities will take at least another ten years to emerge. He emphasized that once the threat materializes, global digital infrastructure will upgrade collaboratively to respond, and the cryptocurrency community will play a leading role.

Bitcoin (BTC) continues its decline from the beginning of the week, currently around $63,500 as of February 24. The Ethereum Foundation has established a DeFi team to promote the development of the "DeFipunk" protocol. Jane Street was sued by Terraform Liquidation Party, accused of using insider trading to accelerate the crash.

Bitcoin has recently experienced a clear decline, with the market facing two simultaneous pressures. Major miner Bitdeer has liquidated over 2,000 coins in eight weeks, strategically shifting to an immediate sell-off mode; the U.S. Supreme Court ruled that Trump's tariffs were illegal, and a new wave of national security tariff issues has emerged, causing global risk assets to panic sell. Technical indicators have also worsened, with Bitcoin breaking below the triangle support, with short-term targets directly pointing to the critical $64,000 defense line.

U.S. stocks generally declined due to the potential disruptive risks of artificial intelligence and adjustments in U.S. tariff policies, with the S&P 500 index dropping over 1% and IBM's stock price plummeting. Bitcoin continued to slide, falling to $63,888, as market fear intensified, and overall market capitalization decreased by 3.38%. Investors are focusing on tariff trends and NVIDIA's earnings report.

The "Peace Committee" led by U.S. President Trump is considering issuing a stablecoin pegged to the US dollar to support the digital payment system in Gaza and address the cash access difficulties in the local humanitarian crisis. The project is led by Israeli entrepreneur Liran Tancman and aims to establish digital payment infrastructure and other online services.

ChainCatcher reports that, according to Jinshi, five informed sources revealed that officials working with Trump's "Peace Commission" are exploring the creation of a stablecoin for Gaza to reshape the economy of this war-torn Palestinian enclave. The discussion around introducing the stablecoin is still in the preliminary stage, and many details remain to be finalized regarding how to implement it in Gaza. The stablecoin is expected to be pegged to the US dollar, with hopes that Gulf Arab countries and Palestinian enterprises with expertise in digital currencies can take the lead in advancing the project.