Overview of Important Developments on the Evening of February 5

12:00-21:00 Keywords: BitMine, Strategy, Big Short 1. The crypto market capitalization has evaporated by about $570 billions, with the overall total market cap dropping by approximately 19%. 2. The number of planned layoffs in the US surged in January, reaching the highest monthly level in 17 years. 3. Strategy's bitcoin holdings are currently at an unrealized loss of over $4.6 billions. 4. Crypto company Penguin Securities completed a financing round of approximately $18 millions. 5. "Big Short" Michael Burry: The current bitcoin trend may repeat the bear market pattern of 2022. 6. BlackRock deposited 3,900 BTC and 17,197 ETH into an exchange. 7. Bitcoin fell below the $70,000 mark for the first time since November 6, 2024. 8. The value of Ethereum portfolio held by Ethereum treasury company BitMine has dropped to $9.1 billions.