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- 2/3/25: A Crypto Bloodbath 🩸🦄🇬🇧
2/3/25: A Crypto Bloodbath 🩸🦄🇬🇧

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Top News
Crypto market rocked by $2B liquidation bloodbath in 24 hours
Uniswap launches v4 “hooks” upgrade
Coinbase secures UK approval: Expanding crypto services globally

Specs’ Insights
1. Crypto market rocked by $2B liquidation bloodbath in 24 hours
🚨 UPDATE: Over $2 BILLION Liquidated in Just 24 Hours!
More liquidations than both the COVID crash and FTX implosion.
— Cointelegraph (@Cointelegraph)
3:07 AM • Feb 3, 2025
⌐◪-◪ → This weekend was a bloodbath!
The crypto market just experienced its single worst liquidation event in history, wiping out over $2 billion—with estimates suggesting the real number could be as high as $8-10 billion, according to BYBIT CEO Ben Zhou.
For context, this liquidation event was bigger than LUNA, bigger than COVID, bigger than the FTX collapse—an absolutely brutal reset for overleveraged traders.
Bitcoin is currently sitting below $95K, a level that tells you everything you need to know about market sentiment. But the real damage? Alts got absolutely wrecked. Ethereum took a massive hit, with ETH/BTC now sitting at 2020 lows—just when we thought things couldn’t get worse for ETH.
Zooming out, the hysteria on the timeline makes it seem like the sky is falling, but let’s put things into perspective: Bitcoin is still at $95K, a price most people could only dream of just last year.
Days like this separate the diamond hands from the weak hands. Volatility is part of the game—don’t let it shake you. If your long-term conviction hasn’t changed, neither should your strategy.
2. Uniswap launches v4 “hooks” upgrade
. @Uniswap v4 introduces hooks, enabling custom logic at key points in a pool—think native limit orders, dynamic fees, and automated market-making strategies.
singleton structure consolidates all pools into one contract, reducing deployment costs by ~99%.
flash accounting… x.com/i/web/status/1…
— Rohit | Okto 🐙⛓️ | Orchestrating Web3 (@rrohit689)
10:41 AM • Feb 3, 2025
⌐◪-◪ → Uniswap v4 is here!
Uniswap just dropped its biggest upgrade yet, and it’s already rolling out across the ecosystem.
v4’s key upgrades:
Hooks: Customizable smart contract modules, enabling limit orders, custom oracles, dynamic fees, and more.
Singleton structure: Consolidates all pools into one contract, reducing deployment costs by ~99%.
Flash accounting: Cuts gas fees significantly by minimizing redundant transfers.
Adoption is happening fast—v4 is already live on 10 chains, including Ethereum, BNB, and Polygon, with Base leading the charge, slowly displacing v3.
Shoutout to @haydenzadams and the Uniswap team for pushing the space forward. If you want to dive deeper, check out the full whitepaper here.
3. Coinbase secures UK approval: Expanding crypto services globally
Coinbase is now the UK’s largest VASP. 🇬🇧
The United Kingdom is our biggest international market, and this registration represents an important chapter in our international expansion strategy.
— Coinbase 🛡️ (@coinbase)
1:54 PM • Feb 3, 2025
⌐◪-◪ → Coinbase is taking over the UK!
Coinbase just secured full regulatory approval from the UK’s Financial Conduct Authority (FCA)—making it the largest exchange to legally operate in the UK.
For context, only 14% of FCA applicants get approved, making this a huge milestone for Coinbase.
This approval means:
UK users get access to new products, including staking services, stablecoin integrations, and more.
Coinbase can directly engage with UK regulators to shape the future of crypto policy.
A major expansion of Coinbase’s dominance, now leading in both the U.S. and U.K. markets.
Coinbase keeps proving itself as one of the most powerful forces in crypto adoption—and this latest win cements its global presence even further.

Everything Else
📈 Market Snapshot
Bitcoin → $95,777.87 ▼ 3.46% (24h)
Ethereum → $2,594.83 ▼ 15.98% (24h)
XRP → $2.35 ▼ 17.01% (24h)
Solana → $196.12 ▼ 8.06% (24h)
BNB → $571.35 ▼ 12.18% (24h)
ETH/BTC ratio sinks to 2020 levels
BTC dominance nears 4-year high
THORChain's RUNE plummets 45% to lowest since 2020
Ben Zhou estimates $8-10B in liquidations
⛓️ Crypto & DeFi
Raydium overtakes Uniswap in DEX volume
Bitcoin mempools clear as transaction count hits 11-month low
Sky Protocol stablecoin pivot gains traction
Bitcoin slips below $100K as Trudeau retaliates
Kraken sees $1.5B in revenue for 2024
Tether reports $13B in net profits for 2024
🏦 Wall Street
Bitfarms explores AI/HPC alternatives
Wintermute CEO discusses the future of crypto trading
THORChain to issue equity tokens for $200M debt
MicroStrategy raises $563M for more Bitcoin
Elliott Management warns of inevitable crypto collapse
🚀 Venture Capital
TON Foundation launches $100M VC fund
Coinbase acquires web3 adtech platform Spindl
Cipher Mining secures $50M from SoftBank
🏛️ Legal & Regulatory
Utah could be first U.S. state to pass Bitcoin reserve bill
Crypto ETFs could flood market if SEC changes stance
21Shares files for Polkadot ETF
Purpose Investments files for XRP ETF
Dogecoin trust coming to Grayscale
Grayscale files proposal to convert XRP trust to ETF
Investor sues Pump.fun over volatile memecoins
🌎 Rest Of The World
Crypto gang jailed for over 76 years in UK
Russia plans crypto mining registry
Ripple's XRP omitted from Hong Kong’s approved crypto list
Monochrome brings first Aussie Bitcoin & Ethereum ETFs to Singapore
Swiss bank UBS tests blockchain for digital gold investments
Indian government considers crypto policy shift
Thailand plans new digital token trading platform
South Korea’s bitcoin premium soars to 10-month high
🖼️ NFTs & Metaverse
TRUMP Solana token falls after President’s ‘pump’ post
Stablecoin supply on Sol surges by 112%
Funtico unveils Web3 gaming platform
Elon Musk's father hopes to raise $200M from memecoin
Kanye West speculated to launch memecoin
Tinder Swindler plans to launch memecoin on Valentines Day
Memeland raises $10M from PAIN pre-sale
