CZ denies Binance ever traded on BitMEX or booked 60,000 BTC in hedge profits during the March 2020 crash, calling the viral allegation “fake news” and technically impossible.

CZ pushes back on BitMEX hedge narrative

Responding to a viral post from Flood, CEO of fullstack_trade on Hyperliquid, CZ said the allegation that Binance hedged flow on BitMEX for over 60,000 BTC in profit during the Covid‑era liquidation cascade was entirely fabricated. “4. Fake news. They just making things up randomly now. Not sure what their goal is. I feel bad for the people believing this without seeing any proof,” he wrote, adding bluntly that “Binance never traded on BitMex.” Zhao tagged BitMEX co‑founder Arthur Hayes to underline a key operational constraint at the time, noting that “BitMex processes withdrawals only once a day,” a structure that would have made real‑time risk‑hedging of that magnitude effectively impossible.

BitMEX and traders call claim “impossible”

Market participants quickly weighed in to deconstruct the 60,000 BTC storyline. “Exactly. BitMEX’s once-a-day withdrawal window back in 2020 made it impossible for an exchange to use it for a real-time hedge of that size,” commentator Murtuza J. Merchant argued, stressing that “no entity would trap 60,000 BTC in a manual multi-sig during a black swan crash.” He suggested the “60k figure is likely just a garbled memory of old” market anecdotes rather than a verifiable trade record. BitMEX itself has since confirmed that it has no records supporting the alleged flows and pointed to its upgrade from once‑daily batched withdrawals to real‑time payouts as part of broader infrastructure changes since 2020.

FUD, Binance’s legacy, and market context

Not everyone accepted the “fake news” framing. One critic, posting under the handle Broly, countered that “Binance has had a major role in every major downfall of crypto,” citing the exchange’s role in the FTX collapse, its backing of LUNA before withdrawals were halted, and its influence around other major dislocations. The episode has been widely mocked as yet another round of competitive FUD, but it also underscores how opaque cross‑exchange flows, historical grievances, and incomplete memories can quickly harden into conspiracy narratives in a market that still trades on screenshots and hearsay as often as audited disclosures.

Market prices and further reading

This parabolic move comes as digital assets continue to trade as the purest expression of macro risk appetite. Bitcoin (BTC) is hovering around $68,280, with a recent 24‑hour range between roughly $64,760 and $71,450. Ethereum (ETH) is trading near the low‑$2,000 band, with prediction markets clustering key levels between about $1,940 and $2,100 over the near term. Solana (SOL) changes hands around $78–81, roughly flat on the session after a modest pullback from recent highs.

The previous Consumer Price Index (CPI) report was published on 13 January and had a significant impact on Bitcoin’s price. As the BTC/USD chart shows:

→ shortly after the release, the price surged aggressively to the 14 January peak;
→ it then reversed sharply lower (a sign of a bull trap), creating a bearish outlook — which we highlighted on 21 January;
→ subsequently, it broke through multi-month support and entered an accelerated decline towards the $60k area.

For this reason, today’s US inflation report (16:30, GMT+3) is drawing close attention across multiple markets, as it may have a substantial effect on both the dollar and traders’ appetite for risk assets, including Bitcoin.

Technical Analysis of the BTC/USD Chart

Bitcoin’s price swings have formed a descending channel, shown in red. Within this framework:

→ the lower boundary (L) appears to be key support. When the price dipped below it on 6 February, aggressive buyers stepped in, resulting in a candle with a long lower shadow;

→ the QL line, which divides the lower half of the channel into two sections, is acting as resistance — as reflected in price action on 9 February.

The ATR indicator is trending lower, signalling declining volatility, which suggests the market is awaiting important news. Higher inflation is generally seen as a factor that could delay interest rate cuts, strengthen the dollar and bond yields, and weigh on BTC/USD. Conversely, softer inflation would be supportive for cryptocurrencies.

If the CPI release does not produce major surprises, Bitcoin may continue to trade within the broad L–QL range.

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[PRESS RELEASE – Valletta, Malta, February 13th, 2026]

Qzino, a Web3-based crypto casino platform, has officially launched, introducing an ecosystem that integrates profit-sharing mechanisms, token-based rewards, and a broad gaming offering. The platform provides access to more than 10,000 games, including proprietary Qzino Originals, and incorporates token utility into its operational model.

Positioned as an alternative to traditional online casinos, Qzino integrates a revenue participation structure through its native QZI token. The token is designed to function as a profit-sharing mechanism within the platform’s ecosystem, allowing holders to receive distributions linked to overall platform performance, including during periods when they are not actively playing.

Simple and Transparent Profit-Sharing Model

QZI functions as a participation token within the Qzino ecosystem. According to the project, the token is structured to enable holders to receive distributions tied to the platform’s performance.

The model includes:

• Allocation of 30% of Qzino’s Net Gaming Revenue (NGR) to eligible participants
• A staking mechanism under which 3% of the staking pool is distributed daily to QZI holders

Under this structure, rewards may be generated both through platform activity and through token holding. The distribution framework is designed to operate according to predefined parameters outlined by the project.

Staking Mechanism and Token Supply Structure

The Qzino ecosystem incorporates a token model centered on mining and staking mechanisms. The QZI token has a capped total supply of 7,777,777,777 tokens and follows a predefined distribution framework outlined by the project.

Through the staking mechanism, eligible participants may receive daily distributions from the platform’s staking pool, subject to the platform’s terms and performance. The structure is designed to support ongoing token utility within the ecosystem and to align participation incentives with platform activity over time.

Cashback and Rakeback Program

Qzino includes a structured cashback and rakeback program as part of its platform model. According to the project, the system is designed to provide ongoing rewards tied to user activity.

The program includes:

• Cashback of up to 40%, distributed twice weekly, subject to platform terms
• Rakeback of up to 15%, calculated automatically and applied to eligible bets

These mechanisms are integrated into the platform’s broader rewards structure and form part of its operational framework within the crypto iGaming sector.

Integrated Mining Mechanism

At launch, Qzino includes a built-in mining mechanism integrated into platform activity. The system enables users to accumulate QZI tokens through participation, without requiring external hardware or specialized technical setup.

According to the project, the mining framework is designed to distribute tokens through user engagement prior to the activation of additional features such as profit-sharing and staking. The mechanism forms part of the platform’s broader token distribution model within its ecosystem.

Sports Betting Coming to Qzino

In addition to its casino offering, Qzino plans to integrate sports betting into the platform. The feature is intended to allow users to place cryptocurrency-based bets on major international sporting events.

According to the project, sports betting activity will be incorporated into the existing rewards framework, including cashback, rakeback, and token-based mechanisms. With this addition, Qzino aims to broaden its platform scope beyond casino gaming to include multiple forms of crypto-based betting within a single ecosystem.

AI-Supported Tools and Platform Accessibility

Qzino incorporates AI-based tools designed to support user experience within the platform. These tools assist with functions such as personalized game recommendations, basic analytics, and navigation, while gameplay decisions remain user-directed.

The platform is mobile-responsive, supports multiple languages, and is accessible to users in various jurisdictions, subject to local regulations. According to the project, registration is streamlined, KYC requirements are limited, and deposits and withdrawals are processed in cryptocurrency.

Affiliate Program and Market Positioning

In parallel with its player-facing features, Qzino has introduced a global affiliate program aimed at crypto-focused influencers, communities, and media partners. The program offers revenue share of up to 35%, including sub-affiliate commissions, with real-time performance tracking. Additional components include token-based incentives, airdrop campaigns, and free-to-play funnels, as outlined by the project.

“Our mission with Qzino is to create a platform where players don’t just gamble — they participate,” said Matero, Co-Founder of Qzino. “By combining profit-sharing, staking, and industry-leading cashback, we’re building an ecosystem where users genuinely benefit from the platform’s growth.”

The launch takes place amid continued growth in the crypto iGaming sector, particularly among platforms emphasizing transparency and blockchain-based mechanics. By combining gaming services with token-based participation models, Qzino seeks to establish a presence within the evolving Web3 gaming landscape.

For more information about Qzino and to join the platform, users can visit www.qzino.com.

About the Project

Qzino is a Web3-based crypto gaming platform designed to combine casino entertainment with tokenized revenue participation. Built around the QZI token, the project integrates profit-sharing, staking, mining mechanics, and a loyalty-driven rewards system into a single ecosystem.

The platform provides access to over 10,000 games, including proprietary Qzino Originals, with sports betting integration underway. By aligning platform growth with token holder participation, Qzino aims to introduce a sustainable, community-oriented model within the evolving crypto iGaming sector.

Boerse Stuttgart Group, operator of one of Europe’s largest stock exchanges, said it will merge its cryptocurrency business with Frankfurt-based digital asset trading firm Tradias in a strategic move to expand its presence in institutional crypto markets.

The transaction will consolidate about 300 employees under a joint management team from both companies, according to a Friday announcement.

The combined unit aims to cover multiple digital asset services, including brokerage, trading, custody, staking and tokenized assets. It will serve banks, brokers and other financial institutions across Europe, providing fully regulated crypto infrastructure, the announcement said.

Financial terms of the deal were not disclosed. Boerse Stuttgart and Tradias representatives declined to comment to Cointelegraph on the deal’s terms. Bloomberg reported the transaction could value Tradias at about 200 million euros ($237 million) and the combined entity at more than $590 million.

MiCA-compliant crypto custodian joins forces with BaFin-licensed bank

Boerse Stuttgart has been developing its regulated crypto infrastructure through its Boerse Stuttgart Digital arm, which provides trading, brokerage and custody services in accordance with the European Union’s Markets in Crypto-Assets Regulation (MiCA).

In 2025, Boerse Stuttgart reported tripling crypto trading volumes, accounting for a quarter of its total revenue in 2024. CEO Matthias Voelkel expressed a bullish stance on crypto and disclosed personal Bitcoin (BTC) holdings at the time.

The platform’s existing footprint in regulated digital assets positions the exchange group to expand offerings by combining technology with Tradias’ execution capabilities.

Operating as the digital assets arm of Bankhaus Scheich, Tradias is licensed as a securities trading bank by the German Federal Financial Supervisory Authority (BaFin).

“With the planned merger of Boerse Stuttgart Digital and Tradias, Boerse Stuttgart Group is driving the development and consolidation of the European crypto market,” Voelkel said.

Related: Denmark’s Danske Bank allows clients to buy Bitcoin and Ether ETPs

“We have built strong growth momentum in recent years. By merging with Boerse Stuttgart Digital, we will take the next logical step in our corporate development,” Tradias founder Christopher Beck noted, adding:

“Together, we will cover the entire value chain for digital assets and create a new European champion with significantly greater reach, strategic depth, and creative power for further market consolidation.”

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