152: HODLing 4 Dear Life

The Bit Bite Podcast

Ep152 HODLing 4 Dear Life: Bitcoin ETFs, State Legislation on Bitcoin Reserves, Bybit Hack, and Tariff Announcements**
1. **Bitcoin ETF Inflows and Outflows**:
- Discussion of daily net flows for various Bitcoin ETFs from February 11th to 28th, 2025.
- Highlight the total outflows amounting to approximately $3,005 million USD.
2. **State Legislation on Bitcoin Reserves**:
- Utah leads efforts to establish the first state-backed Bitcoin reserve, with over 50 Bitcoin-related bills progressing across at least 22 states.
- North Carolina, Oklahoma, Texas, and Montana are also advancing their Bitcoin reserve bills.
- Expected that four to five states will pass their Bitcoin reserve legislation this year despite some setbacks.
3. **Bybit Hack**:
- Bybit experienced a massive $1.4 billion exploit, the largest heist in crypto history, carried out by the North Korea-linked Lazarus Group.
- Bybit has launched a recovery campaign and plans to release an audited report on its asset status.
4. **Tariff Announcements**:
- President Donald Trump announced 25% tariffs on Mexican and Canadian imports and a 10% levy on Chinese goods, effective March 4th.
- The rationale behind the tariffs is to combat the flow of fentanyl into the U.S. and raise significant revenue.
- Economists are concerned that the tariffs could worsen inflation as importers may pass the costs onto consumers.