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MemeCoins Are Dead
PLUS: Liquidation Cascade & ByBit Declares 'War' On Lazarus
Liquidation Cascade
Memecoins Are Dead
ByBit Declares War on Lazarus
And more…
Market Data Prices as of 5.15am ET

This Update is Brought to You By Swan Bitcoin
Bitcoin is on sale!
These dips are meant for buying!
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LIQUIDATION CASCADE
If you checked the markets this morning and thought:
“Did I miss some big news?”
“What’s causing this?”
“Is it too late to bring back the wallet chain?”
The answers: No, we’ll explain, and you can try (but maybe reconsider).
Today’s market drop seems to be driven by a combination of weakened sentiment, fear, and mass liquidations across multiple assets.
It sounds complex, but we’ll break it down step by step.
What’s Happening?
Mass liquidations occur when too many traders are using leverage—essentially borrowing money to trade.
If prices drop below a certain threshold, they’re forced to sell their assets to cover their loans.
That forced selling pushes prices lower… which triggers more liquidations… which leads to more selling… until the market stabilizes.
A Simple Breakdown:
✅ Markets have been weakening for days (stocks & crypto).
✅ Investors started selling.
✅ That selling pushed prices lower.
✅ Prices hit liquidation levels.
✅ Leveraged traders were forced to sell to cover loans.
This creates a cascading effect, but eventually, buyers step in, and things begin to recover.
It’s tough, no doubt. But here’s the reality…
This kind of volatility is normal in crypto. In fact, options markets have been signaling a potential drop to $75K or lower since December (which we covered two months ago).
The key takeaway? This isn’t a reason to panic.
As Kyle explained in last week’s video, we’re nowhere near the cycle top. That means these dips are just part of the process—not a sign of collapse.
At worst? It’s a rough patch to push through.
At best? It’s a prime buying opportunity.
The moment you shift your mindset from “red charts = panic” to “red charts = opportunity”—everything changes.
Why is everyones first reaction on red days in markets to wonder if/when they should sell?
And then on green days the first reaction is if/when to buy
It should be the complete opposite
— Kyle Reidhead | Milk Road (@KyleReidhead)
7:51 PM • Feb 24, 2025
Hang tight. We’ll keep you updated.
A crypto wallet is a physical device, designed to enhance the security of your private keys by securely storing them offline.
These wallets physically store your private keys within a chip inside the device itself.
The beauty of using a crypto wallet is the security it provides to your private keys.
The big idea behind crypto wallets is the isolation of your private keys from your easy-to-hack smartphone or computer – basically anything that can expose your private keys
💀MEMECOINS ARE DEAD
💥 Boom. Bitcoin just fell below $90,000—for the first time in months.
And according to Matt Hougan, CEO of Bitwise, there’s only one thing to blame: memecoins.
We all saw the 2024 memecoin craze—but Matt says it’s officially over.

And here’s why:
🔥 Melania Coin & Libra—projects that fizzled out fast.
💸 Lazarus Group—using memecoins to launder stolen ETH.
🚫 Investors losing interest—and pulling out fast.
BUT HERE’S THE TWIST…
The memecoin funeral might be the best thing to happen to crypto in years.
💎 Bitcoin adoption is skyrocketing.
💳 Stablecoins are going mainstream.
🔗 Tokenization is moving at full speed.
📈 DeFi is making a major comeback.
MARKET RESET = MASSIVE OPPORTUNITY
📉 Short-term pain: A correction as retail investors panic.
🚀 Long-term gain: A mature crypto market led by institutions.
Ryan Rasmussen from Bitwise just dropped a 🔥 take:
"Retail investors are panicking. Smart money is licking their lips."
💡 Translation?
The memecoin crash might just be your best entry point yet.
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BYBIT DECLARES ‘WAR’ ON LAZARUS
Cryptocurrency exchange Bybit has officially declared a “war against Lazarus”, launching a crowdsourced effort to track and freeze stolen funds.

Bybit has introduced a new bounty website that aggregates wallet addresses linked to Lazarus, offering a 5% reward for any successful submission leading to frozen assets.
Bybit’s CEO, Ben Zhou, announced the initiative on social media, emphasizing the platform’s commitment to transparency in tracking sanctioned Lazarus money laundering activities.
Join us on war against Lazarus - lazarusbounty.com
Industry first bounty site that shows aggregated full transparency on the sanctioned Lazarus money laundering activities. V1 includes:
- Becoming a bounty hunter by connecting your wallet and help tracing the fund, when… x.com/i/web/status/1…— Ben Zhou (@benbybit)
2:40 PM • Feb 25, 2025
Zhou stated that users can connect their wallets to the site to help trace stolen assets, and once funds are frozen, the bounty is paid upfront.
Bybit has deployed a dedicated team to maintain and update the platform, vowing to eliminate Lazarus and other bad actors in the crypto industry.
Currently, 6,338 Lazarus-linked addresses are being monitored, with around $42.3 million already frozen, accounting for just over 3% of the stolen assets.
This initiative follows the $1.5 billion hack on Bybit, which sent crypto markets tumbling.
Investigations confirmed that North Korea’s Lazarus Group orchestrated the attack, marking it as the largest crypto theft in history.

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FOR THE FERTILE MIND…
You are what you read! Here is what we are reading right now…
Cryptosovereignty - Erik Cason
The Sovereign Individual - James Dale Davidson and Lord William Rees Mogg
Contributions to Philosophy (Of The Event) - Martin Heidegger
Liberty and Property - Ludwig Von Mises
Concept of the Political - Carl Schmitt
OTHER NEWS
🇸🇻 El Salvador resumes its Bitcoin accumulation, investing $661,000 after a brief one-week pause to strengthen its crypto reserves.
🏦 European Central Bank advisor Jürgen Schaaf reaffirms his stance that Bitcoin is unsuitable for central bank reserves, citing its volatility and perceived lack of economic utility.
💼 BlackRock moves 1,800 BTC to Coinbase Prime amid ETF outflows and market uncertainty, signaling portfolio rebalancing and potential investor redemptions.
🕵️♂️ A Bybit hacker converts $6.2M in stolen ETH to BTC in real-time using Thorchain and OKX Web3 Swap.
⚖️ OKX agrees to a $504M settlement with the US Department of Justice over alleged anti-money laundering (AML) violations.
📉 Michael Saylor's latest Bitcoin purchases fail to boost MicroStrategy (MSTR) stock, as tweets on Jan 21, Jan 27, Feb 10, and Feb 24 coincided with a decline in share price, suggesting a shifting investor sentiment.
🚀 Riot Platforms reports a 34% revenue increase in 2024, fueled by mining expansion and a move into AI/HPC, despite rising operational costs and lower Bitcoin production.
🇮🇳 Bybit secures regulatory approval in India, restoring services after paying a $1.06M fine.
🏛️ DekaBank, a Frankfurt-based investment giant managing $395B in assets, launches Bitcoin trading and custody for institutions, while Citadel Securities gears up to become a key crypto liquidity provider amid regulatory shifts.
📊 Metaplanet acquires 135 BTC worth $12.9M, bringing total holdings to 2,235 BTC, with plans for continued expansion through 2026.
💰 Bitwise Asset Management raises $70M from Electric Capital, MassMutual, and Haun Ventures, expanding its spot Bitcoin ETF offerings, which now hold nearly $4B in assets.
🚔 Sen. Dick Durbin introduces the Crypto ATM Fraud Prevention Act, aiming to curb scams targeting seniors and impose stricter regulations on Bitcoin and crypto ATMs.
📉 MicroStrategy's net asset value (mNAV) drops to a nine-month low, despite $2B in Bitcoin purchases, raising concerns about investor confidence and stock dilution risks.
🔍 Block Inc. enters discussions with NYDFS to address Bitcoin-related money laundering allegations and ensure compliance with AML regulations, as scrutiny on crypto firms intensifies.
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
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