Anonymous Programmer Burns $7 Million in Ethereum to Protest Alleged 'Brain Control'

Crypto User Burns $7 Million in Ethereum to Protest 'Mind Control'

In a dramatic move, an anonymous programmer named Hu Lezhi has burned and donated approximately $7 million worth of Ethereum to protest what he claims is manipulation by a "brain-control organization." According to Decrypt, Hu sent 2,553 ETH through multiple transactions, with 603 ETH ($1.65 million) permanently removed from circulation by sending it to an unspendable blockchain address. He also donated over 700 ETH (nearly $2 million) to organizations like WikiLeaks. Hu inscribed messages on the blockchain, alleging that he has been monitored and manipulated since birth and accusing executives at WizardQuant Capital Management of using "brain-computer weapons" to control employees. His final transaction occurred on February 17, where he expressed despair over his situation.

Decrypt reports that this act has sparked mixed reactions, with some crypto users attempting to exploit Hu's remaining funds. The incident highlights the intersection of cryptocurrency and personal activism, albeit under unusual circumstances.

FTX Repayments Could Pressure Bitcoin, Ethereum, and Ripple Prices

Bitcoin, Ethereum, and Ripple are facing potential price declines due to selling pressure from FTX repayments, as reported by FXStreet. Bitcoin has been consolidating between $94,000 and $100,000, while Ethereum hovers around $2,690, and Ripple trades at $2.55. FTX creditors with claims under $50,000 have started receiving repayments, representing approximately $1.2 billion in value. This influx of funds could lead to increased selling activity, further impacting the market.

Technical indicators suggest bearish momentum for Bitcoin and Ripple, while Ethereum shows signs of recovery. However, analysts warn that if Bitcoin breaks below $94,000, it could test the $90,000 level. Similarly, Ethereum risks falling to $2,359 if it fails to maintain its current support levels.

Raoul Pal Predicts Explosive Growth for Bitcoin, Ethereum, and Solana

Raoul Pal, CEO of Real Vision, has reiterated his bullish outlook on Bitcoin, Ethereum, and Solana, calling them "the greatest macro trade of all time," according to TradingView. Despite recent market volatility, Pal believes these cryptocurrencies are poised for significant growth. He highlighted technical patterns, such as Bitcoin's long-term uptrend and Ethereum's symmetrical triangle, as indicators of potential breakouts.

Pal also emphasized the importance of long-term investment strategies, urging traders to avoid excessive leverage and focus on broader market trends. He predicts that Ethereum could reach $4,000 or higher, while Solana's consolidation phase may precede an explosive rally.

Ethereum Eyes $3,000 as JetBolt Presale Surges

Ethereum's price has shown signs of recovery, trading at $2,819 after a recent climb from $2,500, as reported by Disrupt Africa. Analysts suggest that if Ethereum maintains its momentum, it could break the $3,000 barrier. However, risks remain, with potential declines to $2,503 if support levels fail.

Meanwhile, the new altcoin JetBolt has gained significant attention, selling over 325 million tokens during its presale. JetBolt's innovative features, such as zero-gas technology and AI-powered crypto insights, have attracted crypto whales and early investors. The altcoin's success highlights the growing interest in next-generation blockchain solutions.

Crypto Market Crash: Bitcoin and Altcoins Decline

The crypto market has experienced another crash, with Bitcoin dropping below $95,000 and altcoins like Ethereum, Solana, and XRP also declining, according to CoinGape. The downturn is attributed to global economic uncertainty, including U.S. trade policies and the Federal Reserve's tightening measures. Additionally, capital inflows into Bitcoin and Ethereum have decreased by over 30% in the past month, further straining the market.

Solana has faced additional challenges due to a $286 million rug pull involving the LIBRA meme coin, which has eroded investor confidence. Over $300 million has been liquidated from the crypto market in the last 24 hours, with long positions taking the most significant hit.

Argentina Scandal Impacts Solana's Market Value

Solana has lost approximately 25% of its market value since February 14, following a scandal involving Argentina's President Javier Milei, as reported by Bloomberg. The controversy centers around a memecoin called Libra, launched on the Solana blockchain. The token's association with the president has raised concerns, leading to a $20 billion decline in Solana's market capitalization.

Solana, known for its low fees and fast transactions, has been a popular platform for memecoins. However, the recent events have highlighted the risks associated with speculative tokens and their impact on broader market sentiment.

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