Crypto coins Deribit said that starting Feb. 17, Russian accounts will switch to “reduce-only” mode, and all positions will be forcibly closed by March 29, although withdrawals will remain open. Withdrawals to Remain Open Deribit, a cryptocurrency derivatives platform, announced Feb. 5 that European Union (EU) sanctions on Russia have forced it to exit the country…
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Cryptocurrency
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Nobel laureate Eugene F. Fama has expressed a strong belief that Bitcoin will lose all value within the next ten years due to its lack of intrinsic value and its volatility. Fama, who earned a Nobel Prize in Economic Sciences in 2013, has also argued that Bitcoin’s instability makes it unsuitable as a medium of exchange. His calls echo hundreds made over the years, all of which have proved spectacularly wrong.
Eugene F. Fama is an American economist renowned for his groundbreaking work in financial economics, particularly his development of the Efficient Market Hypothesis (EMH). In 2013, he was awarded the Nobel Prize in Economic Sciences for his contributions to asset pricing and market efficiency.
Over the decades, Fama has remained an influential voice in economics, frequently challenging conventional wisdom on financial bubbles, cryptocurrencies, and the nature of risk in markets. In a recent discussion on the podcast Capitalisn’t, the man often referred to as the “Father of Modern Finance” predicted that Bitcoin’s value is likely to drop to zero within the next decade:
In the discussion, Fama was skeptical about Bitcoin’s long-term viability, emphasizing that its lack of stable value and intrinsic worth undermines its potential as a sustainable currency. He suggested that Bitcoin’s current valuation is driven by speculative behavior rather than fundamental value, reinforcing his prediction of its eventual decline to zero. When asked about the probability of Bitcoin becoming worthless in ten years, Fama responded, “I would say it’s close to one.”
Fama also took aim at cryptocurrencies in general during the episode:
Cryptocurrencies are such a puzzle because they violate all the rules of a medium of exchange. They don’t have a stable real value. They have highly variable real value. That kind of a medium of exchange is not supposed to survive.
There are many who would agree with Fama when it comes to most cryptocurrencies but would disagree when it comes to Bitcoin, which has seen extremely influential members of the banking institution recognizing its value as a decentralized form of digital gold.
In predicting Bitcoin’s death, Fama has added his name to a cast of hundreds, all of whom have been not just wrong to date but spectacularly wrong.
Meme coin
Feb 7, 2025, 12:02 p.m. UTC
Cardano (ADA) and dogecoin (DOGE) were down 4% in the past 24 hours, leading losses among major tokens as traders await U.S. payrolls before further positioning in the market.
Bitcoin (BTC) traded just over $97,300 in European morning hours Friday, down 1.7% in the past 24 hours. The broad-based CoinDesk 20 (CD20), a liquid index of the largest tokens by market capitalization, fell 2.3%.
“Bitcoin failed to reclaim the $99K resistance level last night, triggering a broad selloff in the market and pushing BTC back to a new daily low of $95.6K,” Singapore-based QCP Capital said in a Telegram broadcast. “With a three-day losing streak, the outlook for crypto remains uncertain.”
Ether (ETH) fell 2%, while XRP outperformed BTC with slight declines of 1.1% after a brief Thursday sell-off. Solana’s SOL was up 0.2% as investment firm VanEck predicted the token hitting $520 at the end of 2025.
Some traders pointed to continued volatility in crypto markets next week.
“It’s been a volatile week as China has proved that it can take measures against new tariff policies,” Jeff Mei, COO at BTSE, told CoinDesk in a Telegram message. “It looks as if there is a wide breadth of tools at their disposal which can act as leverage.
“Additionally, we’ve yet to see Trump tariffs hit the EU, so markets will likely continue to be fluctuating through the next few weeks,” Mei added, referring to the multiple tariffs issued or hinted by Trump against Canada, Mexico, EU and China last week.
The U.S. Non-Farm Payrolls (NFP) is a monthly report detailing job creation, unemployment rate, and wage changes which influences markets by affecting expectations around Federal Reserve’s interest rate policies.
Strong job growth can lead to fears of inflation, and raising interest rates, while weak data might signal an economic slowdown, lowering rates expectations and affecting currency and bond yields.
Bitcoin’s price reacts to this data through shifts in risk sentiment, liquidity, and the dollar’s value. Positive payrolls might bolster bitcoin — and the broader crypto market — if it spurs a risk-on market mood and vice-versa.
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM,
BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
