## Market Movements

**BNB Chain's** BNB token and **PancakeSwap's** CAKE have defied the low-volatility market conditions, rallying **9.3%** and **35%** respectively, even as **Bitcoin (BTC)** remains rangebound at **$96,200**. 

### CAKE's Surge
**CAKE** has more than **doubled over the past week**, coinciding with a spike in trading volume, with **$1.1 billion** recorded in the past 24 hours, according to CoinMarketCap data.

### BNB's Rise
**BNB** also saw a significant increase, attributed to tweets from Binance founder **Changpeng Zhao**, hinting at potential interactions with **memecoins** on the BNB Chain. This has led to a flipping of **Solana's SOL** token in terms of market cap.

### Bitcoin's Range
Despite the activity in altcoins, **Bitcoin** has been trading between **$95,000** and **$98,000** since **February 8**. This rangebound price action typically leads to increased activity in alternative cryptocurrencies as traders look for more speculative bets. Notably, **LIDO**, **INJ**, **JTO**, and **HYPE** have all gained between **7%** and **9%** in the past 24 hours.

![Market Overview](https://cdn.sanity.io/images/s3y3vcno/production/31f122f423c87feeb813cdd49add76b8df43d3f5-3454x2763.jpg?auto=format)

### Key Takeaways
- CAKE has rallied **35%** in 24 hours and **107%** in the past week.
- BNB surged **9.3%** following tweets from Binance's CEO.
- Bitcoin remains stagnant around **$96,200**, leading to increased altcoin activity.

BNB has surged following a series of tweets from Binance founder CZ.

Why PancakeSwap's CAKE and BNB Tokens Are Soaring While Bitcoin Stays Stagnant at $96K

### Overview  
Illinois Governor **JB Pritzker** is pushing for new legislation aimed at regulating cryptocurrency ATMs to combat **scams** and **money laundering** activities. These ATMs allow users to convert traditional currency into cryptocurrency, such as **Bitcoin**, and vice versa.

### The Rise of Crypto ATMs  
Crypto ATMs have been operating in Chicago since **2014**, and their usage has surged as **cryptocurrency** has gained **legitimacy**. However, the lack of oversight has raised concerns regarding their potential for misuse.

### The Risks of Cryptocurrency  
Unlike physical cash, **cryptocurrency** does not have a fixed value, making it susceptible to rapid fluctuations. The decentralized nature of crypto transactions means they often lack legal protections and can be irreversible. Governor Pritzker's proposed regulations include:  
- Setting daily transaction limits for crypto ATMs  
- Capping excessive usage fees  
- Requiring receipts that detail the dollar value of digital assets and associated fees  

### The Dark Side of Crypto ATMs  
With over **1,600** crypto ATMs in Illinois, including **1,167** in Chicago, these machines have been linked to various criminal activities. **Drug dealers** and **human traffickers** have exploited these ATMs to launder money. Additionally, scams such as “**pig butchering**” have emerged, where criminals trick individuals into sending cryptocurrency under false pretenses.

### Current Regulatory Landscape  
Currently, Illinois does not have specific regulations for crypto ATMs. A previous attempt to require operators to register these ATMs failed in the Senate. Lawmakers are cautious about regulating an industry they view as lacking legitimacy, leaving the door open for potential state-level action if the federal government remains inactive.

### Future of Cryptocurrency Regulation  
Former President **Donald Trump** has shifted his stance on cryptocurrency, now advocating for its deregulation to foster growth in the industry. He has also launched a new crypto venture, **World Liberty Financial**, signaling a significant change in the political landscape surrounding digital assets.

![Bitcoin ATM](https://cst.brightspotcdn.com/dims4/default/018f3c0/2147483647/strip/true/crop/6122x4083+0+0/resize/840x560!/quality/90/?url=https%3A%2F%2Fchorus-production-cst-web.s3.us-east-1.amazonaws.com%2Fbrightspot%2Fe4%2Fc4%2F8c54d6b14118920f9b5dbfcb88c6%2Fwatchdogs-011724-09.jpg)  
*Image of a Bitcoin ATM in Chicago*  
*Anthony Vazquez/Sun-Times*  

### Conclusion  
As the cryptocurrency landscape evolves, the call for regulation becomes increasingly critical to protect consumers and curb illegal activities. The proposed measures by Governor Pritzker could pave the way for greater accountability in the crypto ATM sector.

Gov. JB Pritzker wants new rules on cryptocurrency ATMs to address scams and money laundering.

Illinois Governor Proposes Bold Regulations for Crypto ATMs Amid Rising Scams and Money Laundering Concerns

## **A Historic Heist in the Crypto World**  
In a staggering incident, **hackers have stolen $1.5 billion** from the cryptocurrency exchange **Bybit**. This theft marks one of the largest in the history of the cryptocurrency industry, posing significant challenges to a sector that was recently revitalized by **Donald Trump’s re-election**.  
  
## **Impact on the Cryptocurrency Industry**  
The theft is a major blow to an industry that has been gaining momentum and public trust. As cryptocurrencies continue to grow in popularity, incidents like this raise concerns about security measures in place at exchanges.  
  
## **What This Means for Investors**  
Investors and users of Bybit are left questioning the safety of their assets and the overall reliability of cryptocurrency exchanges. This incident could lead to increased scrutiny and regulatory measures aimed at preventing future hacks.  
  
![Bybit Exchange](https://www.ft.com/__origami/service/image/v2/images/raw/https://barrier-page-components.s3.eu-west-1.amazonaws.com/assets/icons/primary_product_icon_trial.svg?source=next-barrier-page&format=svg)  
  
The implications of this theft could resonate throughout the market, affecting investor confidence and potentially leading to a bearish sentiment across the board. As the situation unfolds, it is crucial for investors to stay informed and vigilant about the security of their investments.

Theft deals blow to an industry that has been reinvigorated by Donald Trump’s re-election

Massive $1.5 Billion Heist: The Shocking Theft from Crypto Exchange Bybit

### Bitcoin Price Analysis: Short-term bulls eye breakout above $98,800 to fuel rally towards $100,000  
Bitcoin has recently surged, reaching prices between **$97,973** and **$98,323** as traders focus on critical technical levels while evaluating **macroeconomic** and **inflation** signals.  
The price has stabilized in a range of **$96,000** to **$98,000** following a **10.3%** pullback from its all-time high on **January 20, 2025**. Currently, we are in a correction phase with **key resistance** set at **$109,356** and **support** at **$89,164**.  
Maintaining above **$96,000** could indicate a **bullish reversal**, targeting **$102,000–$105,000**. Conversely, a drop below **$94,000** might lead to a retest of **$90,000**. Traders are closely monitoring this range to assess directional momentum.  
### Elon Musk’s DOGE Could Soon Refund $5,000 to All US Taxpayers; Will the Markets React?  
In other news, **Elon Musk**, the head of **DOGE**, mentioned on **X** (formerly Twitter) his intention to discuss with President **Donald Trump** a proposal that could see a **$5,000 refund check** issued to U.S. taxpayers, funded by savings from his **Department of Government Efficiency (DOGE)**.  
This initiative, known as the **‘DOGE Dividend,’** was initially proposed by **James Fishback**, CEO of **Azoria Investment Firm**, and aims to redistribute **20%** of DOGE’s projected savings by **2026** to taxpaying households.

Bitcoin Price Analysis: Short-term bulls eye breakout above $98,800 to fuel rally towards $100,000

Bitcoin Surge: Will It Break $100,000 Soon?

### Major Milestone for Bitcoin Finance

The recent **listing of Fold Holdings Inc.** on the Nasdaq marks a **significant achievement** for Thesis*, a venture studio at the forefront of **Bitcoin-native financial innovation**. This groundbreaking event aims to enhance access to **crypto products** for everyday consumers.

### Fold's Public Debut

Fold, one of Thesis*'s most successful incubated companies, is now the **first Bitcoin financial services company** to be publicly traded on the Nasdaq Stock Market. It operates under the ticker symbols **FLD** for common stock and **FLDDW** for warrants. This move not only highlights Fold's success but also underscores the growing acceptance and integration of **Bitcoin** into mainstream finance.

The listing marks a major milestone for Thesis* as it continues to pioneer Bitcoin-native financial innovation, aimed at providing access to crypto products to average consumers

Thesis* Revolutionizes Bitcoin Finance: Fold Becomes First Public Company on Nasdaq!

### Pi Network: A Controversial Blockchain Project
Pi Network’s **lack of transparency**, an **obscure core team**, and a **fervent community** have made it a highly controversial blockchain project.

After six years in the making, Pi Network **announced the launch of its open mainnet** on Thursday, allowing users to trade Pi tokens externally. However, it has faced persistent criticism and has yet to gain recognition for its blockchain technology.

### Background of Pi Network
Launched in March 2019 by **Nicolas Kokkalis**, **Chengdiao Fan**, and **Vince McPhillip**, who later quit due to internal disagreements, Pi Network claims **60 million users** with **10.14 million mainnet migrations** and **19 million completing KYC** identity verification. On social media, Pi Network has **111,000 followers on Reddit**, **2.9 million on Telegram**, **3.5 million on Twitter**, and **1.65 million on YouTube**.

Unlike traditional mining, where users validate transactions, Pi users simply log in daily, tap a button, and collect tokens. Pi Network’s whitepaper claims to redefine mining beyond proof-of-work models, stating, "We define ‘mining’ more broadly than its traditional meaning equated to executing a proof-of-work consensus algorithm as in Bitcoin or Ethereum."

However, some experts argue that cryptocurrency mining is already well-defined, and Pi Network’s redefinition serves its own agenda. **CCN** describes Pi Network as a decentralized blockchain platform that allows mining via smartphones. Unlike Bitcoin or proof-of-stake systems, Pi Network relies on users forming **trust-based groups** to validate transactions.

### Concerns About Trust and Control
Experts warn about the implications of a trust-based system. "What happens if the foundation of this trust is flawed?" **CCN** cautions about the risks of bad actors infiltrating the network.

Despite Pi Network's decentralization claims, experts note that all active mainnet nodes remain under its **core team’s control**. The absence of **smart contracts** even after six years further raises doubts about its legitimacy.

### Inconsistencies and Privacy Issues
Pi Network claims **60 million users**, yet **ExplorePi** reports only **9.11 million wallets**, or just **15%** of the claimed user base. Furthermore, only **20,000 wallets** show daily activity, raising concerns about actual engagement. 

The **mandatory KYC process** has sparked privacy concerns, requiring users to submit video selfies and government-issued IDs, increasing the risks of misuse and identity theft. Critics argue that the development team lacks transparency and demands excessive app permissions.

### Engagement and Community Dynamics
Pi Network’s daily login model follows principles of habitual conditioning, creating a psychological trap for users who hesitate to quit after months of effort. The **referral-based system** fuels engagement, which some critics liken to a **Ponzi scheme**. 

### Unrealistic Price Expectations
Many supporters believe Pi tokens will be highly valuable, advocating for a **“consensus price”** of **$500–1,000** per Pi. However, critics dismiss these estimates as **unrealistic**. 

The Pi Core Team set a total supply of **100 billion tokens**, with around **6 billion** expected to enter circulation post-mainnet launch. If valued as optimistically as its community suggests, Pi Network’s market capitalization would be astronomical, lacking real-world data to support it.

**CryptoTimes** attributes Pi’s rise to psychological tactics but emphasizes that a project’s growth ultimately depends on its actual value. As of now, the hyperbole around Pi Coin and Pi Network is just noise with no real value.

![User interface of Pi Network app on a smartphone. Photo by VnExpress/Bao Lam](https://vcdn1-english.vnecdn.net/2025/02/21/20250131-225809-1739769150-154-8828-6274-1740112294.jpg?w=680&q=100&dpr=2&fit=crop&s=sznQQE7I0fOK51uhJLjLsA)

Pi Network’s lack of transparency, an obscure core team, and a fervent community have made it a highly controversial blockchain project. - VnExpress International

The Controversial Rise of Pi Network: What You Need to Know

## The Recent Bitcoin Crash: A Wake-Up Call for Investors

The recent **Bitcoin price drop** has left many investors worried. In such a volatile market, effectively managing risks and protecting investment returns has become a primary concern for cryptocurrency investors. Fortunately, **ICOminer** offers an innovative solution to help investors profit steadily even during the Bitcoin crash.

![ICOminer](https://blockchainwire.s3.amazonaws.com/314569e6a5d43b921d60272d18106216/editor_image/ico.jpg)

## ICOminer: Redefining the Future of Cloud Mining

ICOminer introduces **AI-powered smart mining technology**, optimizing the distribution of computing resources to significantly increase mining efficiency while reducing energy consumption. This not only brings higher returns for users but also supports greener, more sustainable mining practices. Regardless of market fluctuations, ICOminer provides a **transparent, secure, and stable** mining environment.

### Why Choose ICOminer to Respond to Bitcoin’s Crash?

1. **No Fees, Transparent Returns**  
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**Disclaimer**: The information provided is not a solicitation for investment. Cryptocurrency mining involves risk and the potential for loss of funds. It is recommended to consult with a professional financial advisor before investing in cryptocurrency.

  Leeds, England, Feb.  20, 2025  (GLOBE NEWSWIRE) -- The recent Bitcoin price drop has left many investors worried. In such a volatile market, effectively...

Investing in Bitcoin's Downturn: Discover How ICOminer Can Help You Profit Without Fees!

U.Today presents the top three news stories over the past day.

## Ripple CTO Explains Main Difference Between XRP and Bitcoin
Ripple CTO **David Schwartz** recently engaged in an X exchange regarding **XRP** with members of the crypto community. In one of his replies, Schwartz pointed out the main difference between **XRP and Bitcoin's supply dynamics**, stating that, measured in common units, "there is a lot more bitcoin than XRP." The CTO then wrote that the "only reason you get a smaller number of BTC is because BTC is a larger unit of value than XRP." In his opinion, comparing the two assets based only on supply might be misleading; **XRP** has a maximum supply of **100 billion**, while **Bitcoin's** pegged supply stands at **21 million coins**. Additionally, according to **CoinMarketCap**, Bitcoin's total supply is **19.82 million BTC**, as that of XRP stands at **99.87 billion XRP**. Now, BTC is trading at **$97,946**, and XRP at **$2.73**. At current prices, the supply of Bitcoin remains higher than XRP in dollar terms. Schwartz added: "Measuring in dollars, the supply of Bitcoin is greater than XRP. There is no meaningful sense in which Bitcoin is scarcer than XRP."

## Shiba Inu (SHIB): Reset Point Reached
**Shiba Inu** has reached a potential support level that could become a foundation for a price reversal after a prolonged decline. The formation of a **double bottom pattern** near the **$0.00001485** mark suggests that the meme token may be stabilizing, although overall market conditions remain a concern. Recently, a **death cross** appeared on SHIB's chart, indicating bearish momentum, which has historically led to further price drops but can also precede reversals. For a bullish reversal to be confirmed, SHIB needs to break above key resistance levels, starting with the **50-day moving average** around **$0.00001700**. However, the lack of strong buying interest raises doubts about its ability to recover, and if selling pressure persists, SHIB could drop to **$0.00001300** or lower.

## Brazil Approves First XRP ETF: Details
**Brazil** is on the verge of launching the world's first **XRP-based ETF**. According to the **Comissão de Valores Mobiliários (CVM)**, **Hashdex**, a well-known asset management firm, has received approval to launch the world's first **XRP spot ETF** in Brazil. However, the exact date of the product's listing on the Brazilian Stock Exchange (**B3**) remains unknown. With over **200 million people**, Brazil offers a massive market for crypto investment products; the introduction of an **XRP ETF** will give both institutional and retail investors a great opportunity to invest in the asset without having to deal with the technicalities of private wallets and direct ownership. While other countries like the U.S. are still figuring out their approach to a **XRP ETF**, Brazil is taking a major step forward, with the prestige of the world's first **XRP ETF** coming to the country.

Get the latest news in the crypto industry with U.Today's daily news digest!

Why PancakeSwap's CAKE and BNB Tokens Are Soaring While Bitcoin Stays Stagnant at $96K

Summary:

Market Movements

CAKE's Surge

BNB's Rise

Bitcoin's Range

Key Takeaways

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Other Latest News

Illinois Governor Proposes Bold Regulations for Crypto ATMs Amid Rising Scams and Money Laundering Concerns

Massive $1.5 Billion Heist: The Shocking Theft from Crypto Exchange Bybit

Bitcoin Surge: Will It Break $100,000 Soon?

Thesis Revolutionizes Bitcoin Finance: Fold Becomes First Public Company on Nasdaq!

The Controversial Rise of Pi Network: What You Need to Know

Investing in Bitcoin's Downturn: Discover How ICOminer Can Help You Profit Without Fees!

Unveiling the Crypto Landscape: XRP vs Bitcoin, Shiba Inu's Reset, and Brazil's Pioneering XRP ETF

Other Latest News

Illinois Governor Proposes Bold Regulations for Crypto ATMs Amid Rising Scams and Money Laundering Concerns

Massive $1.5 Billion Heist: The Shocking Theft from Crypto Exchange Bybit

Bitcoin Surge: Will It Break $100,000 Soon?

Thesis Revolutionizes Bitcoin Finance: Fold Becomes First Public Company on Nasdaq!

The Controversial Rise of Pi Network: What You Need to Know

Investing in Bitcoin's Downturn: Discover How ICOminer Can Help You Profit Without Fees!

Unveiling the Crypto Landscape: XRP vs Bitcoin, Shiba Inu's Reset, and Brazil's Pioneering XRP ETF