BlockBeats News, February 6 — Over the past two weeks, the crypto market has experienced a deep downturn, with Bitcoin rapidly falling from its high of $90,000 and barely holding above the $60,000 mark. However, the intense bear market feeling is not only reflected in the price. In the past 48 hours, three executives have publicly announced their career changes.
In addition to Kyle Samani, co-founder of Multicoin, who is considered a leading figure in the industry, ZKsync CTO Anthony Rose (@anthonykrose) and Eigen Labs Director of Developer Relations Nader Dabit have also left the industry one after another.
Amid the weak price performance, the wave of executive departures in the crypto industry may be a concentrated manifestation of cyclical industry pressures combined with personal choices.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
On-chain NASDAQ 100 largest long positions wrong on three markets: going long NASDAQ and BTC while shorting silver, with unrealized losses approaching $10 million
On February 24th, on-chain whale (0x8af) held positions in US stocks, the crypto market, and precious metals simultaneously, going long on the Nasdaq 100 with $20 million, going long on BTC, and short on silver. Due to market corrections, this address experienced unrealized losses, mainly from a 40x leveraged BTC long position, with losses reaching $13.8 million. Despite the risks, the whale's overall profit remains at $51 million.
GateNewsBot3m ago
Bitcoin drops below $63,000, triggering extreme panic; key support levels face testing
February 24 News, Bitcoin continues to be under pressure amid market "extreme panic" sentiment, with the price once dropping to around $62,700. It then rebounded slightly above $63,000, with a 24-hour decline of over 3%. The overall crypto market also weakened, with the total market capitalization of digital assets falling back to approximately $2.25 trillion. Meanwhile, mainstream assets such as Ethereum, XRP, and Solana have all experienced varying degrees of correction, indicating a significant cooling of risk appetite.
Presto Research analyst Min Jung pointed out that this recent drop below $63,000 for Bitcoin reflects more of a deterioration in market sentiment rather than a single fundamental change. Macroeconomic uncertainties regarding tariffs and rising geopolitical risks have led funds to shift toward safe-haven assets, weakening short-term demand elasticity for crypto assets. The Fear and Greed Index has fallen to 5, in the extreme pessimistic range in history, indicating that market sentiment is approaching a temporary bottom.
GateNewsBot4m ago
Canaan acquires a 49% stake in a Texas mining farm in the United States for $40 million, increasing Bitcoin mining capacity.
February 24 News, Bitcoin mining hardware manufacturer Canaan announced that it will invest approximately $39.75 million to acquire a 49% stake in Cipher Mining's three Bitcoin mining farm projects in Texas, further expanding its strategic footprint in North American Bitcoin mining infrastructure and energy assets. The deal covers Alborz LLC, Bear LLC, and Chief Mountain LLC (collectively known as the ABC projects). After the transaction is completed, renewable energy infrastructure company WindHQ will still hold a 51% controlling stake.
GateNewsBot12m ago
Bitcoin drops over 19% in February, marking the worst monthly performance since June 2022
Odaily Planet Daily reports that Bitcoin declined over 19% in February, marking the worst monthly performance since June 2022, due to concerns related to global tariffs. (Cointelegraph)
GateNewsBot29m ago
