🗞 NEWS:

• White House met with banks and crypto leaders to try to unblock U.S. crypto legislation, but the meeting didn’t resolve the stalemate. One key debate: whether stablecoins can offer yield/rewards.

• Big liquidations: a large wave of forced closes hit the market as volatility spiked, showing too much leverage got wiped out.

• Bitcoin selloff accelerated mid-week as risk sentiment worsened, with over $1B liquidations in a 24-hour window.

• BTC nearly hit $60,000 on Feb 6, briefly touching around $60,008 (about a 16-month low) before bouncing.

• ETH also dropped sharply on Feb 6, falling to around $1,751.94 before recovering.

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