Strike Bitcoin Payment Network Reportedly Hit by DDoS Attack

On February 6th, per Onchain Lens monitoring, a whale deposited 3,947 ETH (approximately $7.53 million) into Binance. The whale had previously withdrawn 6,947 ETH (about $29 million) from Binance, incurring a $11.97 million loss over a 4-month holding period.

**Feb 6: DeFi Dev Corp CIO/COO Parker White Takes to Social Media** Yesterday (Feb 5), Belade IBIT trading volume hit $10.7 billion—nearly double its prior all-time high. Option premiums reached ~$900 million, with both metrics setting new records. BTC and SOL declined in sync, while CeFi liquidations were lower. White suspects the volatility stemmed from a large IBIT position holder: likely one or more non-crypto hedge funds headquartered in Hong Kong, China. Data shows some funds hold extremely high IBIT positions (even as single-asset funds) to isolate margin risk. Today, silver plummeted and yen carry trade unwinds accelerated, ramping up market pressure and further hitting fund leverage positions. These funds may be trying to stem losses via high-leverage option trades, but losses keep mounting. Ultimate Bitcoin downside could wipe out their positions entirely. 13F filings are lagged—related position details won’t be public until mid-May—but the event’s massive scal

On-chain data as of February 6 shows that as Bitcoin continues to decline, Binance’s SAFU Fund has seen its BTC holdings shrink by 15% to $170 million. Currently, the fund’s USDC reserves remain at $800 million and will keep purchasing assets. Per the fund’s launch commitment, if Bitcoin keeps falling, SAFU will continue buying to maintain its position value above $1 billion.

On February 6th, Binance founder CZ took to social media to share that he’s currently collaborating with additional countries to launch their respective stablecoins, noting that all currencies should be represented on-chain.

Per LookOnChain monitoring on February 6, whale 0xEc0B was liquidated 21 times across long positions in BTC, ETH, ENA, WIF, NEAR, CRV, and DOGE during today’s cryptocurrency market crash, with total losses exceeding $19.7 million.