UBS: With Rate Cut in Sight and Geopolitical Risks Rising, Gold Could Head to $6,200

On February 24, on-chain detective ZachXBT announced he will release a major investigation on February 26 targeting one of the crypto industry’s most profitable firms—alleging multiple employees engaged in prolonged insider trading by misusing internal data. In the wake of the announcement, several crypto KOLs took to social media to weigh in. @spacexbt noted that if the probe targets a prediction market platform, employees would theoretically have access to sensitive data—including outcome determination rules, market maker positions, liquidity metrics, and user order flow. Combined with past reports of “unusually high win rates” and massive profits on such platforms, this long-running information asymmetry is notable. Earlier reports also flagged suspected advance betting on geopolitical events via Polymarket, reigniting community chatter about insider trading. Additionally, Crypto Rug Muncher targeted crypto projects linked to the Trump family, claiming that during the recent $

On February 24th, data from Coinbob Popular Address Monitoring shows that as HYPE’s price continues to decline, the largest on-chain whale holding a long position in the token—suspected of insider trading related to HYPE’s listing—has seen its unrealized loss swell to $17.2 million. Overnight and this morning, the whale urgently deposited a total of $2.4 million in additional margin to lower its liquidation price. The address currently holds a 5x leveraged HYPE long position worth approximately $36.18 million, with an entry price of $38.67. The position is now down roughly 237%, and its liquidation price has been adjusted from the previous $26.15 to $23.9. The position is now only about 2.2% away from its liquidation price. Even when HYPE surged sharply earlier—nearly bringing the position back to breakeven—the whale never chose to close it. The whale went long on HYPE before its October 23 listing on Robinhood last year. The entry price was quickly exceeded by subsequent d

On February 24th, monitoring from HyperInsight (via Telegram @HyperInsight) indicates that the 25x Ethereum long position held by “Big Brother Whale” Li Cheng Huang has been liquidated again. Currently, the address has just $24,900 in remaining assets and zero open contract positions. The total loss associated with this address is approximately $29 million.

February 24th — Bitget market data shows spot gold has fallen below $1,170 an ounce, down 1.12% intraday. Spot silver has dipped below $86 an ounce, posting a 2.52% daily decline.

Step Finance announced on February 24 that its SolanaFloor and Remora Markets platforms will cease operations immediately. The team noted that following a hack in late January, it explored multiple options—including funding and mergers/acquisitions—but failed to secure viable outcomes, leading to the decision to shut down all operations. The team added it will conduct a buyback for STEP token holders based on a snapshot taken prior to the incident, and launch a redemption process for Remora rToken holders. Remora tokens remain fully asset-backed at a 1:1 ratio. More details will be announced at a later date. As BlockBeats previously reported, Step Finance issued a statement on February 3 regarding the hack: Approximately $40 million in treasury assets were stolen due to a breach of a company executive’s device. Upon discovering the security vulnerability, Step Finance immediately engaged cybersecurity researchers and relevant authorities for investigation, notified law enforce

On February 24th, 6 hours prior to the time of reporting, a multi-signature wallet linked to Ondo Finance transferred 24.475 million ONDO tokens (valued at approximately $6.12 million) to Coinbase, per EmberCN monitoring.