The cryptocurrency market experienced a significant downturn, with Bitcoin plunging approximately 15% in a single day, marking the largest drop since the FTX incident. Ethereum also faced a sharp decline, falling to around $1,800. This market turbulence has led to substantial unrealized losses for major investors, with Michael Saylor's Bitcoin holdings down over $10 billion and Tom Lee's Ethereum positions losing more than $8.6 billion. In other developments, Aptos Labs saw a notable increase in stablecoin inflows, surpassing Solana, indicating a potential shift in Layer 1 capital allocation. Meanwhile, Circle has partnered with Polymarket to transition prediction markets to native USDC, enhancing compliance and redemption capabilities. Additionally, a large transfer of 8,000 ETH (approximately $14.8 million) to Binance by Yi Lihua has raised concerns about potential selling pressure.