Day: February 2, 2026

SpaceX acquires xAI as Musk pitches orbital data centers ahead of $1 trillion IPO

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SpaceX has acquired xAI, Elon Musk’s artificial intelligence startup, according to a company memo that frames the deal as an effort to combine rockets, satellite internet, direct-to-mobile connectivity, and AI into a single vertically integrated platform. In the memo, Musk argues that AI scaling is constrained by the power and cooling demands of terrestrial data centers and pitches space as the long-term solution. The plan includes orbital data centers powered by near-constant solar energy. The memo describes using Starship to lift far more mass to orbit than current systems, enabling…

BTC Hits Record Undervaluation Amid ETF Outflows: Bitwise

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Bitcoin (BTC) price fell to a year-to-date low of $74,555 on Monday, marking a 40% drawdown from its all-time high. The move coincided with $1.3 billion in net outflows from the global Bitcoin exchange-traded products (ETPs) last week. This drawdown coincided with extreme bearish sentiment and low valuation metrics, but the silver lining could be analysts’ view that a potential asymmetric trade setup is in the works.  Key takeaways: Bitcoin’s 2-year rolling MVRV z-score has fallen to its lowest level on record, signalling extreme undervaluation. Global Bitcoin ETPs saw $1.35…

White House Officials Met with Crypto Execs to Discuss Market Structure

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The meeting came more than two weeks after the Senate Banking Committee postponed a markup on the CLARITY Act, adding that everyone “remains at the table“ to work on the bill. Officials in US President Donald Trump’s administration met with representatives from the cryptocurrency and banking industry to discuss how to address stablecoin yield in the market structure bill under consideration in the Senate. In a Monday X post, The Digital Chamber, a crypto advocacy organization, said its CEO, Cody Carbone, and others had met at the White House to…

Robinhood stock sinks 10% to 7-month low as crypto correction deepens

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Shares hit 7-month low as crypto-linked revenues face pressure ahead of February earnings. Robinhood shares fell more than 10% on Monday, sliding to $89, their lowest level since late June 2025, as a broader crypto selloff and seasonal revenue slowdown triggered a wave of selling. The drop follows Bitcoin’s weekend decline to $75,000, which prompted investors to rotate out of high-beta fintech names before BTC recovered modestly to around $78,500 by press time. Robinhood’s stock often trades in tandem with crypto assets due to its integrated digital asset services. In…

Here’s 4 Supporting Data Points

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Key takeaways: Bitcoin fell to $74,680 after futures market liquidations, yet derivatives data show no signs of panic or extreme bearishness. Spot Bitcoin ETF outflows reached $3.2 billion, but represent less than 3% of assets under management. Bitcoin (BTC) price plunged to $74,680 on Monday after a total of $1.8 billion in bullish leveraged positions were liquidated since the market downturn on Thursday. Traders moved into cash and short-term government bonds, especially after silver prices fell 41% over three days. Concerns over stretched valuations in the tech sector pushed investors…

Analyst Highlights What People Are Missing In The XRP Price Chart

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An XRP analyst is pushing back against the growing sense of boredom surrounding XRP’s price action, with the outlook that people are misreading what is actually happening on the higher timeframes.  Taking to the social media platform X, an analyst known as XRP QUEEN said traders are overlooking a typical setup that has always preceded some of XRP’s most notable rallies. Her view is based on XRP’s weekly price structure and a comparison with how previous long consolidation phases eventually resolved. Why XRP $1.50 To $3 Range Matters More Than…

Wrench Attacks Increased by 75% in 2025, Resulting in $41M Losses: CertiK

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Physically targeting crypto users or their relatives, colloquially known as “wrench attacks,” significantly increased in the last year, according to blockchain security auditor CertiK. In a report on wrench attacks released on Sunday, CertiK said there had been 72 verified cases worldwide in 2025 in which crypto users had been subject to physical attacks. According to the platform, such attacks were “no longer edge cases,” given that physical assaults and kidnappings had increased by about 75% over incidents in 2024.  “Beyond direct losses, the psychological and reputational fallout is reshaping…

ParaFi Capital Backs Jupiter with $35M Strategic Investment

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Jupiter said it has secured a $35 million strategic investment from ParaFi Capital, marking the first time the Solana-based onchain trading and liquidity aggregation protocol has taken outside capital after years of bootstrapped, profitable growth. The transaction involved token purchases at market prices with no discount and an extended lockup period and was settled entirely in Jupiter’s JupUSD stablecoin, the companies said. Financial terms beyond the $35 million investment were not disclosed. Source: Jupiter The investment comes as Jupiter has processed more than $1 trillion in trading volume over the…

Trump announces India trade deal lowering tariffs to 18% as equities bounce on Monday

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President Donald Trump announced a new trade deal with India on Monday, lowering the US reciprocal tariff on Indian goods from 25% to 18%, effective immediately. Prime Minister Narendra Modi confirmed the agreement and pledged to increase US imports, including energy, agriculture, and technology products. The deal includes a commitment from Modi to halt purchases of Russian oil and shift toward US and potentially Venezuelan energy sources. Trump said the agreement unlocks over $500 billion in future US exports. Investor sentiment rebounded on the news, lifting US equities as markets…

Tether integrates USDT and Tether Gold into Opera’s MiniPay wallet

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Tether has integrated USDT and Tether Gold (XAUt0) into MiniPay, Opera’s stablecoin wallet, aiming to help millions in emerging markets access stable, dollar- and gold-backed value, the companies announced Monday. With USDT’s $186 billion market cap, users can send, receive, and hold digital dollars without blockchain complexity, Tether stated. Meanwhile, Tether Gold offers a gold-backed, inflation-resistant savings option. Built on the Celo blockchain, MiniPay’s mission is to bring fast, affordable, and user-friendly digital payments to millions of users across emerging markets. Starting in Africa, the wallet has expanded to over…