It was a weekend with a lot of beers. Of course, Super Bowl Sunday.
Bad Bunny headlined the show. The vibes were high. The snacks were flowing.
But something felt different this year.
There was almost no crypto talk leading up to the event. No massive exchange ads. Zero “crypto is the future” slogans. No celebrities pumping tokens mid-game.
That’s usually a top signal.
When the Super Bowl is flooded with crypto ads, we’re euphoric.
When it’s quiet? We’re probably in a bear phase.
On another note, Bithump was feeling extremely generous.
And by generous, I mean accidentally airdropping tens of billions worth of Bitcoin.
Enough to give you guys a proper news update.
Let’s go.
1) Bithump BTC Blunder Sends $44 Billion to Users
South Korean exchange Bithumb made one of the wildest operational mistakes in crypto history.
During a small promotional rewards event, the plan was simple: distribute about 2,000 Korean won per user. That’s roughly $1.40.
Instead, due to a processing error, some users received at least 2,000 BTC each.
Yes. Bitcoin.
In total, roughly 620,000 BTC was mistakenly distributed. At current prices, that’s around $44 billion.
For a short moment, Bithump BTC became the most profitable “airdrop” ever.
The exchange reacted quickly.
Trading and withdrawals were restricted for 695 affected accounts within 35 minutes. Bithumb says it has recovered 99.7% of the excess Bitcoin.
Still, about 125 BTC, worth roughly $9 million, hasn’t been recovered. A few lucky (or unlucky, depending on how you see it) users managed to sell before restrictions hit.
Bithumb stated clearly that this was not a hack. No external breach. Just internal processing failure.
The incident caused immediate volatility on the platform. Bitcoin briefly dropped around 17% on Bithumb before recovering.
Regulators in South Korea responded fast. Inspections have already started. Internal controls are under review. And questions are being asked about how employees could issue crypto payouts without stricter settlement procedures.
The timing is sensitive. Bithumb has been pursuing plans to go public in the United States.
Not ideal PR.
Now be honest…
Imagine you wake up and see $100 million worth of BTC in your account.
What are you doing?
I consider myself an honest person.
But I’m also realistic.
I’d probably sell very quickly, book the profit, and move my family to a quiet paradise island before the compliance team finishes their morning coffee.
Easy to judge. Harder when it’s your screen showing eight figures.
2) Airdrop Updates – Don’t Ruin Your Eligibility
In markets like this, airdrops matter even more.
Staying up to date is critical. Missing a claim window can completely destroy eligibility. Sometimes it’s not about farming harder, but about claiming on time.
Here’s what’s live:
- Warden Airdrop Claim is live
- Based Mystery Boxes claim is live. If you farmed Based, claim within the next few days.
- Rainbowdotme Claim is live
Important note on Rainbowdotme: you need to install an application to claim.
Since they rugged our referral points and our allocation was minimal, we skipped it. We haven’t tested the software.
Stay careful installing new programs on your devices. An airdrop is never worth compromising your wallet security.
3) HIP-4 Prediction Markets on Hyperliquid
Now this one is interesting.
Hyperliquid announced HIP-4, bringing outcome trading natively to HyperCore.
This is the evolution many builders were waiting for.
Outcomes are fully collateralized contracts that settle within a fixed range. They’re designed for prediction markets and bounded derivatives.
No leverage. No liquidations. Non-linear exposure. Dated contracts.
For the first time, prediction markets are becoming a native primitive inside HyperCore instead of a side application built on top.
That matters.
Outcomes expand what can be built on Hyperliquid. They compose with portfolio margin and the broader HyperEVM ecosystem.
Right now, it’s still being tested on testnet. Canonical markets will launch later, denominated in USDH. Eventually, deployment may become permissionless.
If you’re farming Hyperliquid (and you probably should be), use all protocol features.
History shows that airdrops often reward full ecosystem participation. Sometimes that’s a multiplier.
It’s easy to place neutral trades on prediction markets. You can even hedge exposure by counter-betting on platforms like Polymarket.
Farm smart. Not loud.
Tired of the Binance FUD? Check this list of Binance alternatives.
4) Super Bowl Karaoke: Coinbase Ad Sparks Mixed Reactions
While crypto ads were mostly quiet this year, Coinbase still made noise.
They ran a karaoke-style Super Bowl ad using “Everybody (Backstreet’s Back)” and turned it into a singalong.
No product demo. No hard pitch. Just nostalgia.
After the famous QR stunt in 2022, this felt like another attempt to stand out emotionally rather than technically.
Reactions were split.
Some praised the light tone. Others felt it didn’t explain why Coinbase matters.
But here’s the thing.
People are talking about it.
And in advertising, attention is currency.
From that perspective, it worked.
5) SpaceX Acquires xAI in Record-Breaking Deal
Not directly crypto.
But when Elon moves, markets watch.
SpaceX officially acquired xAI in a deal that reportedly values SpaceX at $1 trillion and xAI at $250 billion.
That makes it the largest M&A deal in history, surpassing Vodafone’s takeover record from 2000.
The move unifies Musk’s AI and space ambitions. It brings Grok, Starlink, and AI infrastructure under one ecosystem.
Some are calling it the “Muskonomy.”
With SpaceX planning a potential public offering later this year, this consolidation strengthens the narrative heading into IPO territory.
Whether you like Elon or not, his influence on tech, AI, memes, and sometimes crypto, makes this relevant.
He doesn’t just move markets. He moves narratives.
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Final Words
It was a quiet Super Bowl for crypto.
But behind the scenes, chaos and innovation continue.
Bithump BTC accidentally became the biggest airdrop in history.
Hyperliquid is evolving into a serious derivatives playground.
Coinbase is leaning into nostalgia marketing.
And Musk is building trillion-dollar ecosystems.
Bear market on TV.
Full volatility under the surface.
Stay sharp. Stay updated. And don’t forget to check your wallet.
Just in case someone accidentally sent you 2,000 BTC.
If you enjoyed this blog, you may want to check our other crypto news updates.
As always, don’t forget to claim your bonus below on Bybit. See you next time!
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