Daily Market Wrap | Feb. 20

Hot Topics

• A growing number of crypto hedge funds have moved to cut risk and pile into cash, underscoring the impact of the post-October crash rout on professional investors.
• Geopolitical tensions and a cautious tone in U.S. stocks are keeping risk appetite in check, and some strategists warn of a potential retest of 2024 lows before a more sustained recovery.

Market Updates

• Ripple CEO Brad Garlinghouse said he now sees a 90 percent chance that the long-debated Clarity Act will pass by the end of April, citing renewed momentum in Washington.
• Simon Gerovich defended Metaplanet’s transparency, options based Bitcoin strategy, and accounting approach.