February 2025 Community Updates

We hope you’re buckled up for a wild ride through February 2025’s crypto chaos!

This month was a rollercoaster of hacks, pumps, dumps, and regulatory plot twists that’ll leave you wondering: is this the future of finance or high-stakes drama?

Macro Madness

First off, the big one: Bitcoin took a nosedive below $90,000—its lowest since mid-November—wiping over $100 billion from the broader crypto market in just days. Why? Investors are jittery over U.S. economic policies, geopolitical tensions, and a massive sell-off in risky assets.

But here’s the insider scoop: on-chain data revealed huge outflows from exchanges, meaning big players (aka whales) are quietly scooping up Bitcoin on the cheap.

Key data point: U.S. spot Bitcoin ETFs saw record outflows this month, with $2.3 billion pulled. Are institutions cashing out or merely repositioning? Time will tell.

The Bybit Heist

Then came the gut punch: Bybit, one of the top exchanges, was hacked for an eye-watering $1.5 billion in Ethereum from its cold wallets—the largest crypto heist in history.

Prime suspect: North Korea’s infamous Lazarus Group, executing yet another “sophisticated” attack on February 21st.

To tackle the fallout, Bybit CEO Ben Zhou is offering a $150 million bounty—10% of the stolen Ethereum—to anyone who helps recover the funds through a community-driven effort.

Exclusive stat: The hack drained 500,000 ETH, roughly 0.4% of Ethereum’s total supply. It’s a blow, but the network remains resilient.

While the news has caused shockwaves in the crypto space in general, Bybit was also praised by experts for its quick response and transparent follow-ups, which managed to quickly calm both the crypto markets and community.

Altcoins + Memecoins: A Reality Check

Altcoins? It’s been brutal. Posts on X claim 90% of them tanked—and while that’s not hard data, the sentiment checks out.

CryptoQuant CEO Ki Young Ju delivered a sobering take: 2025 likely won’t see a full-blown “altcoin season,” but projects with real revenue—think DeFi leaders or utility tokens—could still shine. Pro tip: dig into fundamentals, not just hype.

And memecoins? $LIBRA and $TRUMP, two highly touted presidential tokens launched on Solana, crashed hard, proving that even seasoned degens aren’t immune to the perils of memecoin mania.

We caught up with Lily Liu, President of the Solana Foundation at Consensus HK to discuss what’s next for their protocol. While the memecoin fallout still lingers, Solana is leaving the future direction up to its community. The priority? Ensuring the protocol evolves to meet the needs of its users. For more hot topics from Consensus HK, here’s our summary.

Regulatory Wins

On the flip side, there’s a glimmer of hope! The SEC dropped its probes into Coinbase and Uniswap—a huge win for centralized exchanges and decentralized finance (DeFi) alike. Robinhood’s crypto division also avoided regulatory punishment, signaling a possible thaw in the U.S. crackdown.

This shift aligns with Trump’s vision for fostering a thriving crypto industry in the U.S.—a narrative worth watching closely.

AI + Crypto: The Next Frontier

In our latest poll, FET is leading the pack as the community favorite in the AI race. Meanwhile, builders at Consensus HK are breaking new ground, leveraging AI to tackle crypto’s trickiest UX challenges.

At the foundation, we’re thrilled to champion AI innovation—from Notifs AI news updates to our AI-powered trade signal platform. Got ideas? We’re all ears—let’s build the future together.

Looking Ahead

Have we hit the bottom, or is there more pain ahead? Will Bitcoin claw its way back to $100K? Can altcoins rise from the ashes? We’d love to hear your thoughts.

Here at OAX, we’re committed to giving you a front-row seat to the most impactful developments in the crypto world. As a community-led initiative, we’re here to drive decentralization and innovation—no matter how chaotic the ride gets.

Stay sharp, stay involved.

The OAX Foundation Team

Disclaimer: The above is an opinion piece written by an authorized author, but in no way represents the official standpoint of OAX Foundation Limited, nor should it be meant to serve as investment advice.