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What caused the massive Bitcoin crash? Clues point to a blow-up at Hong Kong hedge funds

One crypto observer suspects a fund holding Bitcoin call options got wiped out, triggering a broader crash.

By Jeff John RobertsFebruary 6, 2026
Dow soars by 1,200 points to top 50,000 for the first time as chipmakers and airlines lead ferocious stock market rebound
By Stan Choe and The Associated PressFebruary 6, 2026
bitcoin logo in front of chart
Bitcoin claws back above $70,000 after worst day since FTX crash 
By Carlos GarciaFebruary 6, 2026
Epstein’s crypto ties: Documents reveal early Coinbase investment, publicist’s view of ‘complete creep’ Michael Saylor
By Ben Weiss and Leo SchwartzFebruary 6, 2026
Dario Amodei, Anthropic CEO, speaking.
Anthropic’s Claude triggered a trillion-dollar selloff. A new upgrade could make things worse
By Beatrice NolanFebruary 6, 2026
Latest Stories
North AmericaU.S. births dropped last year, offsetting 2024’s increase and dashing hopes for an upward trend
By Mike Stobbe and The Associated PressFebruary 6, 2026
PoliticsTrump’s racist post about Obamas is deleted after bipartisan backlash. The White House initially defended it, then blamed a staffer
By Bill Barrow, Josh Boak and The Associated PressFebruary 6, 2026
CEO and co-founder of Anthropic Dario Amodei speaking on stage.
AIAnthropic’s newest model excels at finding security vulnerabilities—but raises fresh cybersecurity risks
By Beatrice NolanFebruary 6, 2026
Personal FinanceBest certificates of deposit (CDs) for February 2026
By Glen Luke FlanaganFebruary 6, 2026
LawMinneapolis fourth grader says ICE fears leave his 30-person class with just 7 students: ‘The teachers cry’
By Bianca Vázquez Toness and The Associated PressFebruary 6, 2026
The Chase logo on a green layered background.
Personal FinanceChase CD rates February 2026
By Joseph HostetlerFebruary 6, 2026
PoliticsUSAID division killed by Trump is reborn after 2 mysterious donors give $48 million
By Thalia Beaty and The Associated PressFebruary 6, 2026
LawTrump torpedoed Biden’s $1 billion plan to save American salmon, leaving species ‘on the brink of extinction’
By Claire Rush and The Associated PressFebruary 6, 2026
More Banking
Personal FinancePersonal loan APRs on Feb. 6, 2026
By Glen Luke FlanaganFebruary 6, 2026
Photo: Strategy chairman Michael Saylor
CryptoBitcoin whales and ETFs are baling out of the market; UBS warns: ‘Crypto is not an asset’
By Jim EdwardsFebruary 6, 2026
Personal FinanceToday’s top high-yield savings rates: Up to 5.00% on Feb. 6, 2026
By Glen Luke FlanaganFebruary 6, 2026
arrow pointing down next to Bitcoin logo
CryptoCrypto market in free fall as Bitcoin plunges below $70,000 while shares of Coinbase and Circle tumble
By Carlos GarciaFebruary 5, 2026
lewis, lee
InvestingMichael Lewis and Tom Lee hold court on the $1 trillion software-stock carnage: ‘I think fear is not a bad thing to be long right now’
By Nick LichtenbergFebruary 5, 2026
Personal FinancePersonal loan APRs on Feb. 5, 2026
By Glen Luke FlanaganFebruary 5, 2026
bessent
BankingScott Bessent trolls Democrats during testimony, implying their questions are unserious and stupid
By Fatima Hussein and The Associated PressFebruary 5, 2026
warsh
CommentaryKevin Warsh’s Fed criticisms make sense, but he’s got a ‘cleanest dirty shirt’ problem. Here’s the triple dilemma he faces
By Daniel J. ArbessFebruary 5, 2026
karp
LawKarp steps down as Paul Weiss chairman after Epstein emails
By Meghan Tribe, Tatyana Monnay and BloombergFebruary 5, 2026
stocks
BankingRout deepens on Wall Street as tech, crypto slide
By Rita Nazareth and BloombergFebruary 5, 2026
Personal FinanceTop high-yield savings rates: Up to 5.00% on Feb. 5, 2026
By Glen Luke FlanaganFebruary 5, 2026
bessent
EconomyScott Bessent’s ‘gotcha’ moment on Trump’s tariffs and inflation: He denies writing ‘tariffs are inflationary’ in letter to hedge fund investors
By Nick LichtenbergFebruary 4, 2026
A drawing of a piggy bank on a rocket ship.
Personal FinanceBest high-yield savings accounts of February 2026
By Glen Luke FlanaganFebruary 4, 2026
Federal Reserve Chair Jerome Powell speaks during a press conference following the Federal Open Markets Committee meeting at the Federal Reserve on January 28, 2026 in Washington, DC.
EconomyTrump may have shot himself in the foot at the Fed, as Powell could stay on while Miran resigns from White House post
By Eleanor PringleFebruary 4, 2026
Personal FinancePersonal loan APRs on Feb. 4, 2026
By Glen Luke FlanaganFebruary 4, 2026
Personal FinanceThe top high-yield savings rates: Up to 5.00% on Feb. 4, 2026
By Glen Luke FlanaganFebruary 4, 2026
The Citizens Bank logo on a green layered background.
Personal FinanceCitizens Bank CD rates 2026: Strong APY (but can you afford it?)
By Joseph HostetlerFebruary 3, 2026
C-SuitePayPal dumps CEO in surprise shake-up, poaches HP’s top exec as replacement
By Jeff John RobertsFebruary 3, 2026
Personal FinanceDigital Federal Credit Union CD rates 2026: Wide selection of CDs with impressive return rates
By Joseph HostetlerFebruary 3, 2026
CryptoFamed startup incubator Y Combinator will let founders receive funds in stablecoins
By Ben WeissFebruary 3, 2026
Personal FinancePersonal loan APRs on Feb. 3, 2026
By Glen Luke FlanaganFebruary 3, 2026
trump
EconomyHow Trump created a trade deal bonanza—for all of America’s former allies who realized they needed new partners
By Paul Wiseman, Josh Boak, Elaine Kurtenbach and The Associated PressFebruary 3, 2026
american dream
CommentaryWe need more capitalists, not necessarily more capitalism
By Seth Levine and Elizabeth MacBrideFebruary 3, 2026
Personal FinanceThe best high-yield savings account rates on Feb. 3, 2026: Earn up to 5.00% APY
By Glen Luke FlanaganFebruary 3, 2026
Personal FinancePersonal loan APRs on Feb. 2, 2026
By Glen Luke FlanaganFebruary 2, 2026
Personal FinanceNorthern Bank Direct review 2026: Great returns for your CD and MMA accounts
By Joseph HostetlerFebruary 2, 2026
Kevin Warsh, former governor of the U.S. Federal Reserve board, speaks during a news conference following the results of his review into the Bank of England's Monetary Policy Committee meetings, at the Bank of England in London, U.K., on Thursday, Dec. 11, 2014.
Economy‘FOMO’ trade finally loses steam as gold and silver sink on Warsh nomination
By Eleanor PringleFebruary 2, 2026
Personal FinanceThe best high-yield savings account rates on Feb. 2, 2026: Earn up to 5.00% APY
By Glen Luke FlanaganFebruary 2, 2026
EconomyThis ‘mutually assured destruction’ threat in the $7.3 trillion JGB market helps prevent Japan from triggering a debt crisis — for now
By Jason MaFebruary 1, 2026
MagazineHow FedEx CEO Raj Subramaniam is adapting to the era of ‘re-globalization’
By Nicholas GordonFebruary 1, 2026
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Most Popular
C-Suite
OpenAI’s Sam Altman says his highly disciplined daily routine has ‘fallen to crap’—and now unwinds on weekends at a ranch with no cell phone serviceAn image of a popular article
By Jacqueline MunisFebruary 5, 2026
Politics
Meet the Palm Beach billionaire who paid $2 million for a private White House visit with TrumpAn image of a popular article
By Tristan BoveFebruary 3, 2026
Travel & Leisure
How Japan replaced France as the country young Americans obsessively romanticize—they’re longing for civility they don’t see at homeAn image of a popular article
By Nick LichtenbergFebruary 5, 2026
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