Breaking: Hong Kong Fund’s Bitcoin ETF Unwind and Bithumb’s $42.5B Phantom BTC Crisis
HONG KONG/SEOUL — February 9, 2026: A perfect storm of leveraged trading and exchange errors rocked Asian cryptocurrency markets this week as investigators examine whether a Hong Kong-based fund’s unraveling Bitcoin ETF position triggered widespread selling pressure. Simultaneously, South Korea’s Bithumb exchange faces regulatory scrutiny after mistakenly distributing 620,000 Bitcoin—worth approximately $42.5 billion—in a promotional […]
