Δημοφιλή άρθρα στο Binance Square

$POWER $FHE $PIPPIN
Iran has announced a shocking condition: they will “stop all uranium enrichment” only if they are allowed to continue all uranium enrichment. Experts call this a mind-bending nuclear loophole, leaving the world confused and alarmed.
Analysts warn this move is not just a negotiation trick — it signals that Iran may legally continue its nuclear program while appearing to comply with international demands. This could dramatically shift the balance of power in the Middle East, heighten tensions with Israel and the U.S., and put global energy markets at risk.
Sources reveal that President Trump has issued secret warnings to Tehran, signaling that any misstep could lead to serious military escalation. Observers say the stakes are extremely high: nuclear capability, diplomatic credibility, and the threat of war are all hanging by a thread.
The world is watching as Iran plays a dangerous game of “stop but continue”, and Trump’s next move could determine whether this ends in a deal or disaster. 🌍🔥
Shocking Heading: IRAN WILL “STOP BUT CONTINUE” URANIUM ENRICHMENT — TRUMP WARNED MILITARY OPTIONS READY!
#USRetailSalesMissForecast #USTechFundFlows #USIranStandoff

Bitcoin (BTC) is entering a critical phase of its 2026 corrective cycle, having shed 38% of its value since January. As of February 11, 2026, the asset is drifting toward the $63,100 mark a vital cost-basis cluster where approximately 1.3% of the total circulating supply changed hands. The breakdown of a bearish "flag" pattern and a hidden RSI divergence have confirmed a loss of buying momentum, while on-chain data reveals a worrying trend: long-term conviction is fading, with holder accumulation dropping by 35% in a single day. If the $63,000 "demand wall" fails to hold, the market faces a potential slide toward $57,740 or even a full structural reset at $42,510.
Technical Breakdown: Bear Flag Failure and RSI Warnings
Bitcoin’s recent attempt at a recovery from $60,100 to $72,100 has officially stalled, forming a classic bearish continuation pattern.
The Flag Breakdown: On February 10, BTC broke below the lower boundary of its bear flag structure. This technical failure suggests that the weak rebound seen in early February was merely a pause in the broader downtrend rather than a genuine reversal.Hidden Bearish Divergence: Between late November and early February, Bitcoin’s price made lower highs while the RSI made slightly higher highs. This "hidden" divergence signaled that momentum was exhausting even as prices attempted to stabilize, setting the stage for the current pullback.
Conviction Crisis: Long-Term Holders Move to Sell
The most concerning aspect of the current price action is the shifting behavior of Bitcoin’s "strongest hands."
Accumulation Slump: The 30-day Hodler Net Position Change saw a sharp 35% drop in accumulation between February 9 and 10. Medium-term investors are slowing their purchases, indicating a lack of confidence in current price levels.Acelarating Sell-Side: Long-term holder selling widened by 7% over the same 24-hour period, with net outflows reaching -169,186 BTC.The Speculative Surge: Meanwhile, the 24-hour holder cohort (short-term traders) saw their share of supply jump from 0.72% to 1.02%. This influx of speculative, "fast money" typically increases market fragility, as these holders are the most likely to panic-sell during sharp declines.
The $63,000 Stand: Mapping the Support Floors
With Bitcoin losing the $67,350 level, all eyes are now on the massive cost-basis cluster sitting just above $63,000.
The Critical Demand Wall: Around 1.3% of the total Bitcoin supply is concentrated near $63,100. This zone represents a significant break-even point for a large group of investors; if defended, it could lead to market stabilization.The Breakdown Risks: A daily close below $63,000 would push large holder groups into unrealized losses, potentially triggering a cascade of liquidations. This would open the path to $57,740 or, in a worst-case scenario, the $42,510 major support zone.Recovery Hurdles: To change the current bearish narrative, Bitcoin must first reclaim $72,130 and eventually break above $79,290 to invalidate the broader downtrend.
Essential Financial Disclaimer
This analysis is for informational and educational purposes only and does not constitute financial, investment, or legal advice. Bitcoin (BTC) price projections and on-chain metrics like the $63,000 cost-basis cluster are based on technical analysis and third-party data as of February 11, 2026. Technical patterns like "bear flags" and indicators like "RSI" are probabilistic and do not guarantee future performance. Bitcoin remains an extremely volatile asset; the 38% decline since January highlights the potential for significant capital loss. On-chain signals like holder net position changes are subject to rapid shifts and may not represent the entirety of institutional sentiment. Always conduct your own exhaustive research (DYOR) and consult with a licensed financial professional before making significant investment decisions in Bitcoin or digital assets.

Do you think the $63,000 cluster is the "buy of a lifetime," or is the 35% drop in holder conviction a sign that $42k is coming?

Ripple’s XRP is sitting in a weird spot right now. On one hand, the whole market has been sliding, and XRP has been dragged down with it. The XRP price is hovering near $1.37, close to levels traders haven’t seen since the 2024 lows.

But at the same time, Ripple is quietly landing serious institutional deals behind the scenes. That’s what makes this moment interesting. XRP looks weak on the chart… but the headlines underneath are getting bigger.

And now, there’s a new deadline coming from the White House that could put crypto regulation into fast-forward.

Ripple’s Aviva Deal Is Bigger Than It Looks

Ripple just announced a partnership with Aviva Investors, one of the biggest asset managers in the UK.

The plan is to bring tokenized traditional fund products onto the XRP Ledger starting in 2026. That’s not meme hype. That’s real finance infrastructure.

This is Ripple pushing XRPL deeper into the real-world asset space, where institutions actually care about compliance, settlement, and regulated rails.

It probably won’t pump XRP overnight, but it adds long-term weight. Deals like this are how crypto moves from speculation into real adoption.

XRP Is Still Stuck in a Market Sell-Off

Even with the partnership news, XRP hasn’t escaped the broader fear in crypto. The XRP price dropped to around $1.37 and is now sitting in a key support zone. Traders are watching closely because if this floor breaks, the next downside levels come fast.

The short-term mood is still cautious. This isn’t a clean breakout environment. It’s more like XRP is trying to survive the storm. A bounce is possible, but the chart still needs proof.

Read Also: Internet Computer (ICP) Escapes Ethereum’s Old Problem, But a New Risk Appears

However, March 1 Could Be the Moment That Changes the Tone Crypto Aiman, who has nearly 88K subscribers, highlighted something major.

The White House has reportedly urged banks and crypto companies to reach an agreement on the Clarity Act and the broader market structure bill by March 1.

Ripple’s chief legal officer, Stuart Alderoty, even warned that the “window is still open” and that action needs to happen now.

That matters because regulation has been the cloud hanging over XRP for years. If the U.S. finally moves toward clearer rules, XRP is one of the names most tied into that process. This isn’t just politics. It’s a potential unlock for institutional confidence.

XRP Price Targets If Momentum Flips

Right now, XRP is valued at $1.37, and the current chart is at a decision point.

Should buyers defend this zone, and the XRP price is again pushed back towards $1.52, the next possible move could be towards the $1.75-$1.85 region.

However, if momentum is building behind that March 1 deadline and we see a market stabilize, then a push to $2.10 becomes possible.

But if the $1.37 level is not successful, then the consequences are felt quickly with the potential to fall and reach the price of $1.12, which is the next support.

So the clean trade here is to hold the floor, reclaim $1.50, and then allow the XRP price to run. Lose the floor, and the market could flush it lower before any real recovery starts.

Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.

The post Here’s the XRP Price If the March 1 Crypto Bill Deadline Lights a Fire Under Ripple appeared first on CaptainAltcoin.

If you leverage trade $BTC , $ETH or any other altcoin, then you need to read this rules👇. Rules 15-19 are very very important
Mid last year, I was in a position many of you might recognize: I needed capital to fund a business venture. I was looking for a "fast" way to get the funds. A friend suggested leverage trading(Note: I have never leverage traded before this time), with assurance of getting the liquidity.
It was a disastrous move.
Without a strategy or an understanding of the dynamics, I lost over $1,000 in a heartbeat. I wasn't trading; I was gambling with money I couldn't afford to lose. Just yesterday on one of my articles here, I saw a comment from a reader pleading for help because he/she had lost all to leverage trading.
The market doesn't care about your business plans or your desperation. It only responds to discipline. To save you from the same fate, I’ve compiled the 20 Essential Rules for Leverage and Futures Trading, gathered from my own hard-learned lessons and and reading after top traders in the space.
Rules of Capital Preservation
1. The 10% Deployment Rule
Never commit more than 10% of your total portfolio to active trades. If things go south, 90% of your wealth remains intact to fight another day.
2. The Law of Risk: Protect Capital First
Your primary job isn't to make money; it's to protect what you have. If a trade puts your "survival" at risk, it is a bad trade, regardless of the potential profit.
3. Be Content with 1% – 5% Daily
Depending on your liquidity, a 1% to 5% return on your capital per day is a massive win. Compounded, this beats almost any traditional investment. Stop using crazy leverage.
4. Avoid the "New Pair" Trap
Do not trade newly listed pairs on futures. They lack historical data, are prone to extreme volatility, and are often used by whales to exit positions on retail traders.
Psychology Rules
5. Never Revenge Trade
If the market takes money from you, don't try to "take it back" immediately. Trading while angry or frustrated leads to doubled positions and tripled losses.
6. Kill the FOMO (Fear Of Missing Out)
If a coin has already pumped 40%, you missed the entry. Don't "ape in" because you see others posting green PnL screenshots on X (Twitter).
7. Don't Trade Under Pressure
If you are trading because you need to pay rent or fund a business (like I was), you will make emotional decisions. Trade only when you are financially and mentally "light."
8. The Law of Patience
No setup = No trade. If the market doesn't give you a clear entry signal that fits your strategy, stay on the sidelines. Sitting in cash is also a position.
9. Do Not Ape in for KOLs
Key Opinion Leaders (KOLs) often have different entry prices and risk tolerances than you. Never enter a position just because an influencer posted it as a call, a lot of people have been wrecked from this.
Execution Rules
10. Trade with the Trend
The "Law of Trend" is simple: don't try to catch a falling knife or short a parabolic moon-mission. It’s easier to swim with the current than against it. So trade the trend. James Wynn lost millions of $$ doing this.
11. Understand the Narrative
Do not enter a trade if you don’t understand the narrative behind the price action. Technicals are great, but the story (AI, RWA, Memes) drives the volume.
12. Always Take Profits.
Always take profit when TP is hit. Take profit and rest. Don't immediately put the funds in the market again.
13. One Entry, One Trade
Do not enter the same trade twice (averaging down) unless it was part of your original plan. Usually, "doubling down" is just a way to accelerate liquidation.
14. Journal Every Trade
Write down why you entered, how you felt, and why you exited. You cannot improve what you do not measure.
Appetite Rule
If you haven't noticed a pattern yet, these final rules are the most important because they address the #1 killer of accounts.
15. Don’t be greedy. (Seriously. Take the profit when it’s there.)
16. Don’t be greedy. (Don’t use 50x or 100x leverage just because you can.)
17. Don’t be greedy. (Don’t stay in a winning trade until it turns into a losing one.)
18. Don’t be greedy. (Respect your stop-losses.)
19. Don’t be greedy. (The market will be here tomorrow; make sure your capital is too.)
Finally, I know it is hard to follow every rule every day. I’m still improving, and you will too. But remember: the difference between a trader and a gambler is a system. Stick to these 19 rules, and you will keep staying afloat.

晚上好，我是鸣人
国家最近管得非常严，香港那边稳定币商家也就是usdt商家基本上全被清退了，现在对于大陆兑换也非常严格，可以说禁止了。而且香港这次动真格了，没拿到他们的牌照直接全部清退，不留颜面。有人说这个牌照好拿吗，2500w港元本地储备资产 是最基本的。
而且就算拿到牌照，你也不能向他卖
以下是现在在香港合规出u流程，大佬还可以，散户算是废了。
- 完成KYC实名认证（必须）
- 你必须是专业投资者（个人≥800万港元资产；机构≥4000万）
- 仅可在专业投资者专区卖出USDT→港币/美元
- 资金只能提至同名香港银行账户
- 流程：充值USDT→卖出→提现到银行
香港都被监管了，之前那么多商家，下一步内地肯定更严格，可能otc商家越来越少，而且我们出金越来越容易被冻结。就算你赚了钱，你也提不出来。我身边好多u商都出事了，而且币安最近出u也一直被打反诈电话，真不知道那一天钱就成数字了。现在管控真的很严格，内地肯定会慢慢把这些商家取代了。
所以现在@Plasma 的解决方案提出，邀请更多的商家加入他们的生态，让usdt通过这个链直接消费，gas费极低，容量又打，速度极快，我认为这是面对目前情况的一个反制
下一步，国家队的刀会挥向那个地方呢，评论区兄弟，你们准备怎么办？
#Plasma $XPL

clawed back nearly 2% during Monday's Asian session after a scary weekend dip below $70,000. But don't let the bounce fool you. Several respected analysts are warning that this relief is temporary and the real pain hasn't even started yet.
The $57K to $87K Box That Nobody Wants to Talk About
Analyst Doctor Profit has mapped out what he calls a new trading "box" ranging from $57,000 to $87,000. That's a massive 33% spread, and he expects BTC to grind sideways within it for weeks, possibly months.
Here's the catch. This isn't bullish consolidation. It's structural decay disguised as stability. Doctor Profit points back to 2024 when Bitcoin chopped between $58,000 and $74,000 for nearly a year before eventually exploding past $100,000. He warned back then that those same levels would become battleground zones in the next downturn. Fast forward to today and that prediction is playing out almost perfectly.
The difference now is context. What once acted as a launchpad is now functioning as a ceiling. Once this sideways grind exhausts itself, Doctor Profit expects a clean breakdown targeting the $44,000 to $50,000 zone.
Smart Money Is Playing Both Sides
Doctor Profit admits he's buying spot BTC between $57,000 and $60,000, viewing it as the local floor of this range. But he's clear that this isn't the final bottom. He sees this zone getting tested multiple times, making it ideal for short term range plays.
If price pushes toward $87,000, he plans to add to short positions he opened between $115,000 and $125,000, which remain fully active. His real accumulation targets sit much lower, in the low $40,000s to low $50,000s, where he believes the macro bottom will form around September or October.
His blunt take: "We are in a bear market. The bounces are temporary and exist to build liquidity for further downside."
Technical Signals Paint a Grim Picture
Analyst Filbfilb drew direct comparisons between today's price structure and the 2022 bear market. BTC is now trading below its 50 week exponential moving average near $95,300, a level widely considered a critical trend indicator. Losing that level strips away any remaining bullish argument and leaves the chart looking eerily similar to previous capitulation cycles.
The Capitulation Everyone Is Waiting For
BitBull added fuel to the bearish fire, stating that BTC's "final capitulation hasn't happened yet." His thesis is straightforward: a genuine bottom will only form below $50,000, the level where the majority of spot ETF buyers would be sitting on losses. Until that washout occurs, every bounce is just bait.
The months ahead could test the patience of even the most committed holders.
#BTCMiningDifficultyDrop #BinanceBitcoinSAFUFund #BitcoinGoogleSearchesSurge #WhenWillBTCRebound

Look, friend—let's talk about what happened Monday. Ripple dropped an update most people scrolled past without a second thought. Big mistake.
They quietly locked in partnerships with Securosys (Swiss hardware security module specialists) and Figment (PoS infrastructure powerhouse). Sounds like boring enterprise jargon, right? But peel back the layer—and it clicks.
Here's the real deal: banks and custodians no longer need to wrestle with validators or key management to custody and stake XRP. It's all plug-and-play now—on-premise or cloud-based HSMs, wrapped in Chainalysis compliance checks. And after snapping up France-regulated Palisade last year, Ripple's basically assembled a full institutional toolkit: custody, treasury services, post-trade ops. This isn't about cross-border payments anymore. It's about bridging TradFi into decentralized networks—on regulators' terms.
My take? This isn't a "price pumps tomorrow" play. It's groundwork. While we're arguing whether XRP hits $5 or crashes to $0.30, institutions are quietly laying rails between legacy finance and crypto assets. And when regulators finally greenlight PoS staking for banks? Ripple's infrastructure will already be live. Competitors will be playing catch-up.
Question for you: Can you see XRP not as a speculative meme-token tied to a lawsuit, but as a slow-burn institutional on-ramp—even if the payoff takes years? Or is it still just "that SEC token" with no real future in your book?
$XRP #xrp #Ripple

Bitcoin’s connection to the global economy is changing.
For many years, investors watched United States interest rates closely because they strongly influenced Bitcoin’s price. But recently, analysts have noticed something more important driving the market.
Bitcoin is now reacting more to liquidity, which is the amount of money flowing through the financial system.
This shift shows that the crypto market is becoming more mature and more connected to how the real financial world works.
Let’s explain this in simple terms.
What Is Liquidity
Liquidity simply means how easy it is for money to move around in the economy.
When liquidity is high
• There is plenty of cash available
• Borrowing is easier
• Investors are more willing to take risks
• Bitcoin and other risky assets often rise
When liquidity is low
• Money becomes tight
• Lending slows down
• Investors become cautious
• Risk assets can struggle
So instead of reacting mainly to interest rate news, Bitcoin is now responding more to how much money is actually available to invest.

How Bitcoin Used to React to Interest Rates
In the past, the relationship looked simple.
Lower interest rates often pushed Bitcoin higher because borrowing was cheaper and investors chased higher returns.
Higher interest rates often pushed Bitcoin lower because money became more expensive and investors preferred safer assets.
But that pattern is no longer as reliable.
Why this changed
• Markets often expect rate changes before they happen
• Rate cuts can signal economic weakness, not just easy money
• Investors now pay attention to deeper financial conditions
This means rate announcements alone no longer explain Bitcoin’s movements.

Why Liquidity Now Matters More

Bitcoin is increasingly reacting to how much money is actually circulating in the financial system.
Several major forces influence liquidity.
Central bank balance sheets
When central banks remove money from the system, liquidity falls.
Government borrowing
Large bond issuance absorbs cash from investors, leaving less money for risk assets.
Bank reserves
When banks hold less money, they lend less, which reduces overall market activity.
All these factors influence how much capital can flow into investments like Bitcoin.

Bitcoin Changing Role In Finance
Bitcoin is slowly shifting from being just a bet on interest rate decisions to something bigger.
It is becoming a signal of global financial liquidity.
This means Bitcoin often rises when money flows freely and struggles when cash becomes tight.
This shift is happening because
• More institutional investors are involved in crypto
• Markets are more developed
• Investors use more advanced analysis
What Investors Should Watch Now
If liquidity is the key driver, investors need to follow different indicators.
Important signals include
• Central bank balance sheet size
• Money supply growth
• Bank reserve levels
• Government cash balances
• Short term funding conditions
These show how much money is actually moving through the system, not just policy announcements.

Interest Rate Driven vs Liquidity Driven Markets
Key Differences in Simple Terms
Interest rate driven market
• Main trigger is central bank announcements
• Price reactions are usually fast
• Focus is on rate decisions
• Often used for short term trading
Liquidity driven market
• Main trigger is overall money availability
• Price movements build gradually over time
• Focus is on financial system cash flow
• Often better for medium term positioning
Liquidity effects tend to move slower but can last longer.

Why This Shows Crypto Is Maturing
Early crypto markets reacted strongly to central bank news because investors lacked better ways to value Bitcoin.
Now the environment is different
• Institutional participation is growing
• Market data is deeper
• Infrastructure is improving
This is similar to how other assets evolved. Gold and technology stocks also became more complex as markets matured.
Bitcoin appears to be following the same path.
What Could Happen Next
Bitcoin’s relationship with the global economy will likely keep evolving.
Possible developments
• Stronger links to global liquidity cycles
• More complex macroeconomic influences
• Eventually unique crypto specific drivers
But one thing is clear.
Simple interest rate predictions are no longer enough to understand Bitcoin.

Final Takeaway
Bitcoin is no longer driven mainly by interest rate headlines.
It is increasingly influenced by how much money is actually flowing through the global financial system.
This shift reflects
• A more mature crypto market
• More sophisticated investors
• Deeper integration with traditional finance
For investors, the lesson is simple.
Watch where money is flowing, not just what central banks say.

You know why you are always losing in their playground?

It's simple you are always following their flow not understanding it.
In today hyperconnected world markets move at the speed of information. News spreads in seconds. Trends go viral in minutes. Prices spike before most people even understand what’s happening. And in the middle of that chaos, one powerful emotion drives decision-making more than logic ever does:
FOMO — Fear of Missing Out.
I. WHAT IS FOMO?
FOMO stands for “Fear of Missing Out.”

It is the anxiety that others are gaining opportunities, profits, status, or advantages while you are being left behind.

In investing and financial markets, FOMO appears when:
A price suddenly surges.Social media is flooded with success stories.Influencers call something “the next big thing.”Friends show screenshots of profits.
FOMO convinces you that if you don’t act immediately, you will miss a life-changing opportunity.
And the moment that fear hits you. Congratulations! you've officially become their exit liquidity. "Thanks for playing!"
II. The Psychology Behind FOMO
A ridiculous thing is humans are wired for social comparison.
Historically, being excluded from the group meant reduced chances of survival. Today, that instinct still exists but it manifests financially.
When you see others “winning,” your brain interprets it as:
A threat (I am falling behind).A loss (I missed something important).An urgent call to action (I need to enter now).
Under emotional pressure, rational analysis weakens. You stop asking critical questions:
What is the intrinsic value?Who entered earlier?Who benefits if I buy now?What is my exit plan?
Instead, you chase momentum.
And when you chase momentum late you often become liquidity for those who entered early.
"This game is always changing. If you don’t change, you’ll always lose."
III. The Playground Is Designed by the Prepared
Markets are not random playgrounds.
They are structured environments where:
Early participants accumulate quietly.Information advantages matter.Narrative timing is strategic.Liquidity cycles are predictable.

By the time something “feels obvious” it is usually no longer early.

The breakout you see is often the distribution phase for someone else.

This does not mean the system is unfair but it does mean it rewards preparation over reaction.
IV. Why You Keep Losing

"Relying on empty words for safety is the most expensive mistake."
You lose not because you lack intelligence.

You lose because you enter emotionally and You treat their words like "insurance".

FOMO creates three dangerous behaviors:
Late entry – Buying after significant price appreciation.Overexposure – Allocating more capital than your risk tolerance allows.Panic exit – Selling during corrections due to emotional exhaustion.

The cycle repeats:
Hype -> Entry -> Volatility -> Fear -> Loss -> Regret -> Repeat.
Until discipline replaces emotion.

"The moment you stop fearing missing out is the moment you start making decisions that truly belong to you."

And the entire market is drawing the wrong conclusion.

Friday, 7pm Seoul. Bithumb runs a promo where winners get 2,000 Korean won.

About $1.40. One employee types “BTC” instead of “KRW.” 695 users receive 2,000 Bitcoin each. 620,000 BTC conjured from a single input field with zero validation.

Nearly 3% of all Bitcoin that will ever exist. Credited from nothing.

Bithumb held 175 BTC on its own books. 42,619 for customers.

The system manufactured 14x more than the exchange possessed and the trading engine accepted every phantom coin as real.

Users saw billions on screen and sold. 1,786 BTC dumped into the order book.

Price cratered 17% to 81.1 million won while every other exchange traded normally. Detected in 20 minutes.

99.7% reversed same day.

Remaining 0.3% covered from corporate funds. 110% compensation pledged.

On-chain reserves never moved. CryptoQuant data stable at ~42,304 BTC.

Crypto Twitter wants this to be FTX 2.0. It isn’t close. FTX was intentional fraud, $8 billion misappropriated, solvency crisis. Bithumb was a fat-finger on a marketing script disconnected from custody infrastructure.

But here’s what should actually terrify you.
South Korea has seen this exact transmission before. April 2018, Samsung Securities. Employee enters a dividend as shares instead of won. 2.81 billion ghost shares issued. $105 billion. 30x the company’s market cap. 16 employees sold 5 million shares before it was caught 37 minutes later. Samsung Securities lost 12% of its value permanently.

Same country. Same denomination error. Same regulatory escalation. Eight years apart.

The critical difference nobody is seeing: Samsung’s ghost shares entered the Korea Exchange settlement system. External contagion. Structural damage. Bithumb’s ghost Bitcoin never left the internal ledger. No blockchain settlement. No external propagation. The exchange reversed it unilaterally because crypto CEXs are their own clearinghouse.

That distinction separates a contained incident from a systemic crisis. And it simultaneously reveals the real vulnerability everyone should be talking about.

Every centralized exchange operates an internal ledger. Your “balance” is a database entry. It becomes real Bitcoin only when you withdraw and it settles on-chain. Bithumb’s system had no validation preventing a promo script from crediting assets that don’t exist. No constraint checking credited balances against actual reserves. Phantom coins entered a live order book and traded against real money from real people.
That architecture is not unique to Bithumb. It is how every centralized exchange on earth works.

Rep. Na Kyung-won of South Korea’s People Power Party said it plainly: “If an exchange functions by merely shifting figures within its internal ledger without any corresponding movement on the blockchain, it is effectively selling coins it does not possess.”

She is describing every CEX you have ever used.

Bithumb didn’t create 620,000 fake Bitcoin.

Bitcoin’s supply is mathematically fixed at 21 million and the blockchain was never touched.

What Bithumb proved is that the ledger sitting between you and the blockchain has no native constraint preventing it from showing you assets that don’t exist. The only safeguards are operational controls.

And on Friday in Seoul, those controls didn’t exist on the one input field that mattered.

Blockchains are trustless. The exchanges sitting on top of them are not.

And the distance between your exchange balance and on-chain reality is the most underpriced risk in crypto right now.