EPISODE · Feb 20, 2026 · 3 MIN
Issue #475: China's $436M IBIT Backdoor, Lightning Hits $1B, UAE Mining Profits
from Bitcoin Breakdown
A mystery Hong Kong entity discloses a $436M BlackRock Bitcoin ETF position with no public identity, raising questions about Chinese capital routing around Beijing's ban, Lightning Network crosses $1B in monthly volume for the first time, and UAE's royal-linked miners hold $344M in unrealized profit. Three stories, under five minutes. Full written edition with links: https://www.btcbreakdown.com/p/issue-475
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Issue #475: China's $436M IBIT Backdoor, Lightning Hits $1B, UAE Mining Profits
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