👻Bitcoin Below $80K, Roger Ver’s Pardon Fight, and Trump’s Crypto Pivot

Happy Sunday—or whatever day it is in your crypto-induced time warp.

One minute we’re watching Bitcoin push $80K, the next we’re bracing for ETF outflows and miner struggles. Meanwhile, the SEC is pulling one of the biggest rug pulls yet—ghosting its own lawsuits like they never existed.

Feels like Web3 never sleeps.

But since you probably need a break from watching charts, let’s get into today’s stories.

IN TODAY’S EDITION

• Bitcoin crashed to $78,393, its lowest since November.

• $1.1B flowed out of Bitcoin ETFs—worst day ever.

• Five U.S. states rejected Bitcoin reserve bills.

• Vitalik Buterin, Ross Ulbricht, and Jesse Powell push for Roger Ver’s pardon, but odds sit at just 7%.

• Trump’s Crypto Summit is happening this week, and the SEC is suddenly backing off major lawsuits.

• The market is reacting—Bitcoin bounced 2.4% in 24 hours.

BITCOIN BELOW $80K—END OF THE BULL RUN?

Back in the day, Bitcoin dips were just part of the ride—big crashes, bigger comebacks.

(If you held long enough, you usually won.)

But this time? Feels different.

• BTC dropped to $78,393 on Friday—its lowest since November.

• ETFs had their worst day ever with $1.1B in outflows on Tuesday.

• Five U.S. states have now rejected Bitcoin reserve bills.

Investors are spooked by Trump’s trade war, inflation fears, and uncertainty around interest rates. And analysts say we might not be done bleeding yet.

The ETF sell-off is what really hurt this week. Big money pulled out fast, but Bloomberg’s James Seyffart says this isn’t unusual:

"ETFs grow in steps—two forward, one back."

There’s a small silver lining: Friday saw $93M in inflows, the first green day in two weeks.

Meanwhile, Bitcoin mining just got easier. Mining difficulty dropped from 114T to 110.5T as U.S. energy costs forced some miners offline. Short-term relief for miners, but if BTC keeps falling, it could signal deeper problems.

The bigger issue? States backing away from Bitcoin reserves. South Dakota just killed a bill to allocate 10% of public funds to BTC, making it the fifth state to do so.

• No Bitcoin reserves.

• No national stockpile.

• And Trump's earlier promises? Looking shaky.

So, is this just another pullback? Or a sign that the market is shifting for good?

IS ROGER VER’S PARDON A LOST CAUSE? 🤔

Back in the day, clemency decisions were straightforward – you either had political backing or you didn’t.

(If you had enough influence, your pardon chances skyrocketed.)

Now, with prediction markets, public sentiment analysis, and political agendas in play, securing a presidential pardon is a whole new ballgame.

And Roger Ver, aka “Bitcoin Jesus,” is stuck in the middle of it.

Crypto Leaders Rally Behind Roger Ver’s Pardon

Vitalik Buterin, Jesse Powell, and even Ross Ulbricht are advocating for Ver’s clemency, arguing that his prosecution is politically charged.

But not everyone agrees.

Elon Musk, now leading the Department of Government Efficiency (DOGE) under Trump’s administration, outright dismissed Ver’s plea, stating:

"Roger Ver gave up his US citizenship. No pardon for Ver. Membership has its privileges."

And according to Polymarket, the odds of Trump granting Ver clemency within his first 100 days?

Just 7%. 👇

Why Does This Matter?

Ver’s arrest in early 2024 stemmed from tax evasion charges totaling $48 million. But critics argue that the government is setting an example rather than pursuing justice.

Buterin summed it up best:

"There have been plenty of people and corporations accused of far worse and yet faced far milder sentences than what Roger is facing."

Even Ulbricht, who recently secured clemency himself, weighed in:

"No one should spend the rest of their life in prison over taxes. Let him pay and be done with it."

The Bigger Picture

Crypto figures are making a case, but political tides aren’t in Ver’s favor.

For now, his fate hinges on two things:

1/ Public pressure on Trump – If enough high-profile names push for his release, it could tip the scales.

2/ Trump’s own agenda – If pardoning Ver aligns with his political interests, the odds could shift.

But for now, the market is betting against it.

Trump to Address Industry Leaders at the First Crypto Summit

A few years ago, crypto regulation felt like a crackdown.

(Every other week, there was a new lawsuit, an investigation, or a fine.)

Now, the tide is turning—fast.

Trump to Address Industry Leaders at the First Crypto Summit

On Friday, President Donald Trump will host the federal government’s first-ever Crypto Summit at the White House.

The event, chaired by AI & Crypto Czar David Sacks, will bring together top founders, CEOs, and investors to discuss the future of digital assets under the new administration.

And it comes just days after a sweeping withdrawal of major regulatory lawsuits.

The SEC Just Pulled Back in a Big Way

In the last week alone:

→ Coinbase lawsuit dropped
→ Investigations into Gemini, OpenSea, Uniswap, and Robinhood withdrawn
→ Richard Heart’s case dismissed on jurisdictional grounds
→ Potential resolution in Justin Sun’s case

Mark T. Uyeda, Trump’s interim SEC Chair, seems to be undoing years of enforcement from the previous administration.

And crypto leaders have noticed.

Cameron Winklevoss: “The War on Crypto is Ending”

Gemini’s co-founder called the SEC’s withdrawal a milestone, but also added:

"This does little to make up for the damage this agency has done to us, our industry, and America."

Translation? The fight might not be over—but it’s shifting.

The Market’s Reaction

📈 Bitcoin is up 2.4% in the last 24 hours
📈 U.S. Bitcoin ETFs are seeing net inflows again
📈 Trump’s official memecoin (TRUMP) is up 18% from its lows

With crypto-friendly regulator Paul Atkins set to take over the SEC (pending Senate approval), and Trump making pro-crypto policy a priority, the industry could be entering a new era of regulatory support.

But does this mean crypto is in the clear?

We’ll find out Friday. 👀

Events Next Week 🌍

📍 MWC25 Barcelona – March 3-4 → More info
📍 Japan FinTech Festival – March 3-7 → More info
📍 FUELD Conference USA 2025 – March 4-5 → More info
📍 SXSW – March 7-15 → More info
📍 Traders Fair Singapore – March 8 → More info

The Ghost’s Recommendation

📖 Articles You Shouldn’t Miss

→ Bitcoin Sell-Off or a Perfect Retest?
BTC’s recent dip might just be a textbook breakout-and-retest play.
Read on CoinDesk

→ Trump-Linked Firm Eyes NFT & Metaverse Expansion
A firm tied to Donald Trump may be entering the NFT and metaverse space—big move or just noise?
Read on CoinDesk

→ Ethereum Foundation’s Leadership Shake-Up
Two new co-executive directors step in, with former researcher Danny Ryan now leading the new Etherealize marketing arm.
Read on The Block

→ QuickNode Rolls Out $65M Accelerator for Layer 2s
Google, Coinbase Ventures, and Dragonfly back a massive fund to scale Layer 2 projects—who will benefit?
Read on The Block

🎥 Watch & Learn

→ The Truth About Crypto’s Biggest Risks
Breaking down the biggest threats to crypto’s future—regulation, security, and adoption hurdles.
▶️ Watch on YouTube

→ How AI & Crypto Are Colliding in 2025
Exploring the intersection of AI and crypto—game-changer or overhyped narrative?
▶️ Watch on YouTube

TICKLE YOUR TOKENS

Alright, that’s a wrap for today.

We started the week with ETF outflows and fear, and now we’re heading into Monday with a White House Crypto Summit on the horizon. If that doesn’t scream bull market chaos, I don’t know what does.

Stay haunted, stay sharp—see you tomorrow.

Nitesh

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