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It is Sunday, Feb. 15, and the crypto market can be characterized with the following three stories: Ripple CEO Garlinghouse getting in an unexpected brawl with Theranos's Elizabeth Holmes on X; the biggest meme coin on Ethereum, Shiba Inu, sees a 71% surge in volume as SHIB community lead Shythoshi Kusama leaves an intriguing clue in his social media feed; and, finally, to conclude today's Morning Crypto Report, Tom Lee, Bitmine chairman, reveals his opinion on when to expect "crypto winter" to end. Spoiler: it is April 2026.
TL;DR
- Brad Garlinghouse responds "Not true" to Elizabeth Holmes, and Theranos's founder replies with a Ripple case reference.
- SHIB volume rises 71.6% to $235.8 million, the price at $0.000006822 after Shytoshi Kusama teases "1326."
- Tom Lee says crypto winter may already be over or end before April.
Elizabeth Holmes spars with Ripple CEO from prison over legal "game"
One of the most interesting and, at the same time, unexpected, events this Sunday was not about cryptocurrency directly, but a figure strongly tied to it — Ripple CEO Brad Garlinghouse. All of the sudden, Garlinghouse decided to engage in a social media debate with Elizabeth Holmes, founder of Theranos and convicted fraudster.
For those not familiar, Holmes founded Theranos in 2003 as a health technology startup that claimed to revolutionize blood testing with a device capable of running hundreds of tests on a few drops of blood. Long story short, at its peak, the company was valued at $9 billion, but investigative reports in 2015 revealed that the technology was ineffective, causing the company to collapse, and Holmes was convicted of fraud in 2022, receiving an 11-year prison sentence.
Today, Holmes, or whoever runs her X account, posted a comment on the U.S. federal conviction rate, stating that the government wins the vast majority of cases it brings and describing structural disadvantages faced by defendants.
This was the point of view that made Garlinghouse respond by saying that this is "not true." Then the whole social media exchange turned into a debate, as Holmes's account replied with an explicit reference to the SEC v. Ripple lawsuit.
Holmes fired back by highlighting the difference between her criminal conviction and Ripple’s civil settlement. She noted that while Garlinghouse paid a $125 million penalty to settle SEC charges, she faced a $500,000 SEC fine in addition to her felony charges brought by the Department of Justice.
The Theranos founder argued that Garlinghouse's case was a "game" of civil charges without the threat of a grand jury or indictment, concluding that "criminal charges are different."
This public spat does not have any impact on an already-concluded Ripple case, but it does offer an interesting angle on it from someone you would not expect, Elizabeth Holmes. As for Theranos and its founder, though, the brawl just underscores Holmes's continued efforts to remain relevant via social media while incarcerated, even as she campaigns for her early release.
Shiba Inu (SHIB) sees 71% spike in volume, while Shytoshi Kusama teases UX/UI overhaul ahead of "Eclipse"
According to CoinMarketCap, Shiba Inu (SHIB) trading volume has surged 71.6% to $235.8 million. The spike in trading activity coincided with lead developer Shytoshi Kusama moving his new project into "alpha testing" for a significant User Experience (UX) and User Interface (UI) redesign.
While being a complete secret, one may try to guess what Kusama is cooking up behind the scenes. One of the theories is that this overhaul likely addresses critical barriers to entry, such as complex wallet integrations and fragmented dApp navigation. A streamlined UI could reduce "bounce rates" from new retail investors, a key metric for long-term project viability in 2026.
Another of Kusama’s cryptic messages was in a bio of his X account, worth one million followers, and also came yesterday, Feb. 14 — Valentine's Day.
What it may be about:
- The "1326" Theory: Some SHIB enthusiasts suggest "1326" may refer to a specific technical milestone or a scheduled release time.
- The Eclipse Talk: Scheduled for Feb. 17, this briefing is expected to reveal the first look at the "Alpha" interface.
Despite the 71% volume spike, SHIB’s price remains consolidated at $0.000006822, with a total market capitalization of $4.02 billion. The current lack of panic-driven price movement suggests this volume represents the return of volatility rather than a speculative pump.
If SHIB sustains a move above the $0.000007 resistance level during the Feb. 17 briefing, it would confirm a shift in short-term momentum, driven by an isolated narrative, not broader crypto market movement.
Fundstrat’s Tom Lee predicts end of crypto winter by Q2, 2026
Another interesting development for the crypto market this Sunday came from Tom Lee's side, as the Fundstrat cofounder and Bitmine chairman — Fundstrat's being a company with almost $8 billion in unrealized loss in its Ethereum position — offered a perspective on the end of the current crypto winter. During a recent appearance, Lee claimed that the market has either reached its lowest point or will reach it before April 2026.
Lee characterizes the recent downturn, which also caused a multibillion-dollar hole in Bitmine's Ethereum balance, as a standard cyclical correction rather than the failure of the digital assets industry.
According to Fundstrat's analysis, if the market sees a final leg down in late February, it will likely represent the ultimate low before a recovery phase. The April deadline coincides with historical Q2 liquidity quakes and anticipated macro-policy clarity.
It is not understandable how Lee, a market veteran with a track record in Bitcoin investments, came into a position where the company he chairs carries up to $8 billion in ETH loss — one of the worst investment deals in the history of markets, by the way. This fact also somewhat makes all the recent statements by Lee less trustworthy too, let's be honest, and may be seen as "hopium" by market participants.
Nonetheless, if Lee's assessment is correct, the transition to a bullish trend will occur within weeks, not quarters.
Crypto market outlook for Feb. 16-22: What to expect?
For the week of Feb. 16-22, 2026, the cryptocurrency market is navigating a critical macro-pivot as it tests long-term support levels following last week's CPI optimism.
- ETHDenver 2026 (Feb. 17-21): The largest Ethereum builder festival kicks off in Denver, USA. Expect high volatility in Ethereum (ETH) and layer-2 ecosystems as new technical upgrades and "BUIDLathon" results are announced.
- FOMC Minutes Publication (Feb. 18): The Federal Reserve will release minutes from its latest meeting. Traders are scanning for hawkish signals from Fed Chair nominee Kevin Warsh, whose recent selection has pressured Bitcoin prices.
- U.S. GDP Data Release (Feb. 20): Fresh economic growth data will be released, directly impacting risk appetite for digital assets.
Vladislav Sopov
Dan Burgin