PPI unexpectedly rose to 3.5% YoY (forecast: 3.2%, previous: 3.3%) and 0.4% MoM (forecast: 0.3%, previous: 0.5%).
US President Trump announced that the United States will impose further tariffs targeting countries that use the value-added tax (VAT) system. Trump's announcement indicates the tariffs will mainly affect four key industries: automotive, pharmaceuticals, metallurgy, and semiconductors.
The global crypto market cap is currently $3.21tn, a 0.93% increase over the last day, while the total crypto market 24h volume decreased 27.86% to $95.96bn.
US BTC spot ETFs had their 4th consecutive day of outflows on Feb 13, recording $157m of net outflows. ETH ETFs on the other hand recorded net inflows of $12.8m.
Bitcoin's 24h volume is down 38.41% to $31.05bn and currently trades at $97,184, a 0.97% increase over the last day. Similarly, Ether's 24h volume is down 31.70% to 18.03bn while it trades 0.92% higher than a day prior, at $2,707.
Crypto liquidations in the past 24h came in at $162.83 with $87.06m in long positions and $75.77m in short.
US economic data releases, including retail sales, industrial production, and foreign trade prices, are expected to drive market movements today as investors evaluate growing inflation trends and Trump's economic plans.
The Department of Government Efficiency (DOGE), led by Elon Musk, has shut down the Consumer Financial Protection Bureau (CFPB). This move coincides with Musk's X platform expanding into financial services through X Crypto and DOGE Payments. The timing raising conflict of interest concerns since the CFPB would have had oversight over digital payment platforms like X Crypto. The CFPB was about to implement new regulations for monitoring digital payment platforms for fraud and privacy issues.
Bloomberg announced on Feb 13 the launch of the Bloomberg Bitcoin & Gold Blend Indices which combine commodities and digital assets components. The new indices include the Bloomberg Bitcoin and Gold Equal-Weighted Index (BBIG), and the Bloomberg Dollar, Bitcoin and Gold Equal-Weighted Index (BBUG).
Coinbase exceeded Q4 expectations with $4.68 earnings per share (vs expected $1.81), including $476m in crypto investment gains. Total revenue reached $2.3bn from $953.8m a year earlier, with transaction revenue up 172% to $1.6bn and subscription revenue up 15% to $641m.
Robinhood, a financial services platform in the United States, reported their Q4 net profit surged 2,953% to $916m from $30m last year, with total revenue up 115% to $1.01bn. This growth was largely driven by crypto revenues, which jumped 700% to $358m.
According to Chainalysis, crypto scams made an estimated $9.9 billion in revenue in 2024, with predictions suggesting this could exceed $12 billion after accounting for undiscovered illicit addresses based on previous growth patterns. High-yield investment program (HYIP) scams - atype of Ponzi scheme - led with 50.2% of revenues, while pig butchering scams - where scammers form personal connections with victims then manipulate them into making fake investments - followed at 33.2%, showing a 40% year-over-year increase in activity.
World Liberty Financial, the DeFi project linked to Trump, bought $1.4m in MOVE tokens - whose creator is Movement Labs, rumored to be working with Musk's Department of Government Efficiency - and $5m in wrapped Bitcoin, staked $5.9m worth of Ethereum with Lido Finance, and deposited $5m USDC into Aave's lending protocol.
