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FTSE 100 Index Climbs to a Record High

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FTSE 100 Index Climbs to a Record High

The UK Consumer Price Index (CPI) report released today showed a slowdown in inflation. According to Forex Factory, the annual figure came in at 3.0%, compared with 3.4% the previous month.

Media reports note that:
→ this marks the lowest level since March 2025;
→ the easing in inflation was driven by lower prices for petrol, air fares, food and education.

As a result, optimism prevails in the equity market, with expectations of monetary policy easing gaining traction. According to Trading Economics, the bullish trend is particularly evident in defence and mining stocks.

The chart of the UK’s FTSE 100 index (UK 100 on FXOpen) shows the market in a clear uptrend, with a sequence of higher highs and higher lows allowing an ascending channel to be drawn.

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Technical Analysis of the FTSE 100 Chart

Bullish strength is highlighted by:
→ the price’s decisive break above the 10,600 level and its ability to hold above it this week;
→ the behaviour of the line dividing the upper half of the channel into two quarters. This line acted as resistance throughout February but was broken to the upside today — and may now serve as support.

The RSI indicator has moved into overbought territory. However, given the strength of the fundamental driver, any pullbacks are unlikely to be deep.

It is reasonable to assume that bullish sentiment will continue to dominate the FTSE 100, with 10,750 — near the upper boundary of the long-term channel — potentially serving as a target for profit-taking.

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This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

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Moonwell’s ‘vibe-coded’ oracle in $1.8M blowup

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Moonwell's 'vibe-coded' oracle in $1.8M blowup

It was only a matter of time before “vibe-coded” smart contracts led to a significant loss of funds and on Sunday, an oracle misconfiguration led to users of DeFi lending platform Moonwell being liquidated for a total of 1,096 Coinbase Wrapped Staked Ether (cbETH).

The protocol was also saddled with $1.8 million worth of bad debt as a result.

The error was introduced in pull request 578, submitted by Moonwell core contributor “anajuliabit” and co-authored by Claude Opus 4.6.

Including this incident, Moonwell has suffered three oracle malfunctions in the past six months, leading to over $7 million in bad debt.

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Read more: Claude AI plugins can now vibe code smart contracts

cbETH = $1.12

Moonwell’s post-mortem report states that, this time, the issue lies in calculating the dollar price of cbETH.

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“The oracle used only the raw cbETH/ETH exchange rate. This misconfiguration caused the oracle to report cbETH’s price as approximately $1.12 (reflecting the cbETH/ETH ratio of ~1.12) rather than the intended market value of roughly $2,200,” the report explains.

As a result, the error “wiped out most or all of the cbETH collateral for many borrowers.”

A total of 1,096 cbETH was liquidated. In turn, $1.78 million worth of bad debt was generated for the protocol.

Monitoring systems picked up the discrepancy and strict borrow and supply caps were set to prevent further interaction.

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Despite this, liquidation of existing positions continued. Any oracle correction requires “a five-day governance voting and timelock period, which could not be bypassed.”

Trading Strategy’s Mikko Ohtamaa pointed out that “regardless of whether the code is written by an AI or by a human, these kinds of errors are caught in an automated integration test suite.”

He highlights that Claude can even write these tests itself, but that in this case “there was no test case for price sanity.”

Others highlighted the contributor’s GitHub profile which shows an extremely high workrate, over 1,000 commits in the past week.

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Read more: Clawdbot creator Peter Steinberger: ‘Crypto folks, stop harassing me’

The dark side of the moon

Moonwell is a lending protocol active on the Base, Optimism, and Moonbeam networks. It holds around $90 million in total value locked (TVL), according to DeFiLlama data, down from a peak of $380 million in August last year.

Since then, the project has suffered a number of hiccups.

DeFi commentary account “Yieldsandmore” details two further incidents in recent months. The first came during last year’s infamous October 10 crash, when a pricing discrepancy between Chainlink feeds and decentralized exchanges on Base led to $12 million in liquidations and $1.7 million of bad debt.

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The second came less than a month later, on November 4, when the $129 million Balancer hack had a knock on effect on Moonwell’s market-based wrsETH/ETH oracle, leading to $3.7 million of bad debt.

The two incidents were apparently exploited by the same attacker, who is “clearly constantly scanning Moonwell for extractable value.”

Previously, 2022’s $190 million Nomad Bridge hack devastated the protocol’s Moonbeam deployment, its sole instance at the time.

The incident saw TVL drop 80%, from over $100 million to just $21 million.

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Sai Launches Perps Platform Combining CEX Speed with Onchain Settlement

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Sai Launches Perps Platform Combining CEX Speed with Onchain Settlement

[PRESS RELEASE – Panama City, Republic of Panama, February 18th, 2026]

Sai today launched Sai Perps, a perpetuals trading platform built to be as fast and intuitive as a centralized exchange with the transparency and self-custody of on-chain settlement. The platform features gasless transactions, removing friction for traders while maintaining full on-chain security.

Sai also unveiled Let’s Go Saicho, a one-month on-chain trading competition running from February 18 through March 19, 2026, with $25,000 in total prizes. The campaign is structured in two phases designed to reward both performance and participation: a PNL competition for profitable traders, followed by a first-come, first-serve “Be Early” phase for traders who engage early and hit a minimum volume threshold.

“On-chain markets shouldn’t require traders to compromise between speed and self-custody,” said Matthias Darblade, a Sai contributor. “Sai Perps is designed for active traders who want a clean, CEX-like experience, while still getting the transparency and settlement guarantees that only on-chain infrastructure can provide.”

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Why Sai vs. Other Perps DEXs

Sai Perps is built around the premise: trading should be accessible without the usual friction of on-chain perps. Compared to existing perpDEXs, Sai stands out in many ways:

  • CEX-like UX, on-chain settlement: A streamlined trading experience designed to be fast and familiar, with trades settling on-chain for transparency and verifiability.
  • Infrastructure built for deep, smooth markets: Sai has focused heavily on liquidity, risk systems, and oracle design to support more consistent execution and robust market integrity.
  • Accessible to both new and experienced traders: A platform experience optimized for speed and clarity, without sacrificing advanced trading capability.
  • Roadmap beyond crypto perps: Sai’s planned expansion includes stocks, commodities, and FX markets, plus user-focused capital efficiency features like Sai Savings (yield on deposits), and cross-chain deposits.

Let’s Go Saicho: $25,000 Trading Competition (Feb 18 – Mar 19, 2026)

Let’s Go Saicho is a one-month competition rewarding trading on Sai across two two-week phases:

  • Phase 1 (Feb 18 – Mar 4): PNL Competition | $20,000 prize pool, 50 winners
  • Phase 2 (Mar 5 – Mar 19): Be Early (First Come First Serve) | $5,000 prize pool, 50 winners

All markets listed on Sai are eligible in both phases. Traders may go long or short on any listed pair using supported collateral (e.g., USDC and other supported assets such as stNIBI, as available on Sai). For more details on Sai’s Trading Competition, visit here.

About Sai

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Sai is a new perpetuals trading platform designed to feel as easy and fast as a centralized exchange, while still settling fully on-chain. Sai’s mission is to make advanced trading accessible without sacrificing transparency or self-custody.

Sai is focused on finalizing its core trading infrastructure and user experience, building liquidity and risk systems for smoother execution, and laying the groundwork for yield features that help users earn on idle collateral. Next on the roadmap: expanded markets (stocks, commodities, FX), Sai Savings, cross-chain deposits, and smart accounts for gasless trading.

SPECIAL OFFER (Exclusive)

SECRET PARTNERSHIP BONUS for CryptoPotato readers: Use this link to register and unlock $1,500 in exclusive BingX Exchange rewards (limited time offer).

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ECB To Launch Payment Provider Selection For Digital Euro

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ECB To Launch Payment Provider Selection For Digital Euro

The European Central Bank (ECB) is moving closer to a pilot for a digital euro, with Executive Board Member Piero Cipollone outlining plans to begin selecting payment service providers (PSPs) in early 2026, ahead of a 12-month test scheduled for the second half of 2027.

Cipollone on Wednesday held an executive committee meeting of the Italian Banking Association. He said the pilot would involve a limited number of payment service providers, merchants and Eurosystem staff. Selection of participating providers is expected to start in the first quarter of 2026.

Cipollone said the digital euro will be designed to ensure it protects European card schemes and keeps banks at the core of the Eurozone payments system, according to Reuters.

Pilot could give PSPs an early start

European Union-licensed PSPs will be at the core of digital euro distribution, Cipollone said. For participating PSPs, the pilot offers an early-readiness advantage ahead of a potential broader rollout, including hands-on experience with onboarding, settlement and liquidity management.

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Source: ECB

He added that it also provides clearer visibility on future infrastructure, compliance and staffing costs, helping companies plan investments more accurately.

With direct Eurosystem support and the ability to feed into the design process, participants should gain both operational insight and influence over how the digital euro ultimately takes shape.

Stablecoins are not the only threat to banks, says Cipollone

The digital euro pilot is also intended to protect domestic European payment projects, such as Italy’s Bancomat card network and Spain’s Bizum peer-to-peer system.

“Banks could lose their role in payments not just because of stablecoins but also due to other private solutions,” Cipollone said, pointing to Europe’s heavy reliance on international card networks like Visa and Mastercard.

Source: Zerohedge

He added that the digital euro would be structured to preserve the competitiveness of local systems.

“The cap on the fee that merchants will pay on the digital euro network will be lower than what the international payments network, normally the costlier, charge, but higher than what domestic payments scheme, normally the cheapest, charge,” Cipollone said.

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Cointelegraph contacted the ECB for comment on the PSP selection but had not received a response by publication.

Related: Lagarde early exit report puts ECB succession and digital euro in focus

The news marks a milestone in the digital euro pilot after the ECB officially moved to the next phase of the project in October 2025, targeting a launch in 2029.

The central bank then projected that a pilot exercise could start in 2027 if legislation is put in place during the course of 2026.

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Magazine: Is China hoarding gold so yuan becomes global reserve instead of USD?