Today's News Highlights:
Binance will launch Heima (HEI) 1-75x U-based perpetual contracts
Upbit will list TRUMP in the KRW, BTC, and USDT markets
MyShell will launch SHELL token generation activities on Binance Wallet and PancakeSwap
The Ethereum Foundation deposits 10,000 ETH each into Aave and Spark
20 million TRUMP transferred from Binance to an unknown wallet in 2 hours, worth about $342 million
Regulation/Macro
The U.S. "Department of Government Efficiency" plans to disclose cost-cutting details
Led by Musk, the U.S. Department of Government Efficiency (DOGE) tweeted that its official website doge.gov is now live, providing the following content: • Updates on X platform • Integration of government organizational structure (manually organizing over 16,000 agencies) • Overview of the regulatory system, including the "Unconstitutionality Index" (measuring the ratio of regulations set by unelected officials to congressional legislation) Future updates (expected to launch on February 14): • Details and evidence of government cost reductions • Overall savings report DOGE stated it will continue to optimize website functionality and welcomes public feedback to enhance transparency and usability.
Coinbase seeks to re-enter the Indian market and is in talks with regulators
According to TechCrunch, Coinbase is in talks with the Indian Financial Intelligence Unit (FIU) to plan its re-entry into the Indian market after a suspension of over a year. Previously, Binance resumed operations in India in August 2024 after registering with the FIU, setting a precedent for overseas crypto exchanges to comply with entering the Indian market. Coinbase briefly launched its Indian operations in 2022 but suspended services within three days due to the National Payments Corporation of India (NPCI) refusing to recognize its UPI payment support. Coinbase CEO Brian Armstrong revealed that the company faced "informal pressure" from the Indian central bank. A Coinbase spokesperson stated that the company is optimistic about the Indian market and plans to comply with all regulatory requirements. However, the market's growth still faces challenges due to the Indian government's implementation of a 30% income tax and a 1% transaction withholding tax on crypto asset trading.
According to Yonhap News, the South Korean Financial Services Commission (FSC) announced that it will advance the opening of real-name accounts for corporate entities in the crypto asset sector in three phases. This year, it will first open trading permissions to non-profit organizations, law enforcement agencies, and crypto exchanges, with plans to allow professional investment corporations to engage in crypto investments in the second half of 2025. Policy advancement details: Phase One (First half of 2025): • Law enforcement agencies (prosecutors, National Tax Service, Customs, etc.) will be allowed to open crypto accounts to handle the confiscation of criminal proceeds and auction of tax-delinquent assets. • Non-profit organizations (such as designated donation funds) are expected to be approved in Q2 2025 to accept and convert crypto donation funds. • Crypto exchanges may obtain corporate accounts before Q2 2025 to convert platform fee income into fiat currency, but the exchanges' selling behavior will be subject to government guidance to prevent market volatility. Phase Two (Second half of 2025): • Professional investment corporations (such as listed companies and registered professional investment institutions, about 3,500) will be allowed to participate in crypto asset trading, but must meet mandatory anti-money laundering (AML) requirements and be reviewed by banks and exchanges. Phase Three (Long-term plan): • The comprehensive opening of crypto investments for ordinary enterprises is still in the medium to long-term discussion stage and requires the completion of Phase Two legislation, including stablecoin regulation, exchange operation rules, and cross-border crypto trading monitoring. FSC Vice Chairman Kim Jae-young stated that it will accelerate the advancement of Phase Two crypto legislation, including stablecoin and security token (STO) regulatory frameworks, and push the National Assembly to pass relevant laws to promote the compliant development of the crypto industry.
According to CryptoSlate, Japanese medical service company SBC Medical Group Holdings announced plans to purchase Bitcoin (BTC) worth 1 billion yen (approximately $6.7 million) as part of its long-term strategy for asset diversification and inflation hedging. The company stated that Bitcoin's fixed supply and growing global adoption give it long-term appreciation potential. The purchase will be executed by SBC Medical's U.S. subsidiary through Coinbase, expected to be completed between February and May 2025. The company emphasized that it has fully considered accounting, tax, and cybersecurity factors and will continue to provide updates on investment progress. In Japan, the trend of corporate Bitcoin investment is heating up. This year, companies such as Metaplanet and game publisher Gumi have announced Bitcoin purchase plans. Among them, Metaplanet has accumulated 1,762 BTC (approximately $185 million) since April 2024, with its stock price soaring 3,500% within a year, and plans to increase its holdings to 21,000 BTC by the end of 2026, becoming one of the largest corporate Bitcoin holders globally.
According to Securities Times, Du Xueyi, head of the Economic Crime Prosecutor's Office of the Supreme People's Procuratorate, stated during a visit to the Supreme Procuratorate's interview event on February 13 that telecom network fraud crimes are currently rampant, and the situation remains severe and complex. Firstly, fraud groups are becoming cross-border and monopolistic, with criminals setting up "industrial parks" and "technology parks" abroad, managing and controlling through guarantees and armed protection, taking a cut or charging fees to obtain illicit funds, forming large criminal organizations. Secondly, the methods of fraud are increasingly diverse and complex, with more deceptive combinations such as "pig butchering + false investment," "gambling fraud combination," and "fraud and extortion combination," leading to serious violent crimes such as intentional injury. Thirdly, the modules of black market crimes are becoming more stable, with criminal tools and software being simple and easy to use, resulting in a wider population being drawn into criminal activities. Fourthly, the channels for funds are intertwined and concealed, with virtual currency "money laundering" becoming a mainstream method, helping criminals transfer fraudulent funds in "small amounts and multiple transactions," making it difficult to trace.
CFTC new chair nominee: The U.S. can maintain global leadership in blockchain and crypto regulation
Brian Quintenz posted on the X platform that he is honored to be nominated by U.S. President Trump as the chair of the Commodity Futures Trading Commission (CFTC), having previously served as a CFTC commissioner in Trump's first administration. He stated that the CFTC plays a key role in maintaining the global leadership of hedging and price discovery markets and believes the agency has the capability to ensure that the U.S. remains a global leader in blockchain technology and innovation. SEC Commissioner Hester Peirce congratulated Quintenz and looks forward to strengthening cooperation between the SEC and CFTC in cryptocurrency regulation, stating that the focus this time will be on crypto regulation rather than the Dodd-Frank Act Chapter 7 reforms following the last financial crisis.
Coinbase derivatives platform may launch Solana and Hedera futures
According to FulcrumNews, Coinbase Derivatives, LLC has submitted a self-certification application for Solana futures contracts to the U.S. Commodity Futures Trading Commission (CFTC) and plans to officially launch trading on or after February 18, 2025. Contract details: • Solana futures will be cash-settled and margin-traded, settled monthly. • Hedera futures are also expected to be launched simultaneously, further enriching Coinbase's derivatives trading offerings.
Cboe BZX Exchange submits proposal to allow 21Shares Ethereum ETF to participate in staking
According to The Block, the Cboe BZX Exchange has submitted a proposal to allow the 21Shares Core Ethereum ETF to stake Ethereum, awaiting a decision from the U.S. Securities and Exchange Commission (SEC). According to Bloomberg analyst James Seyffart, this is the first ETF to submit a staking application to the SEC. The SEC approved several Ethereum ETFs last year, including those from 21Shares, BlackRock, and Fidelity, but many companies removed the staking feature during registration. The market expects that under the leadership of the Trump administration, the SEC's stance on cryptocurrencies may become more favorable.
Financing
Gam3Girl Ventures strategically invests in YGG, purchasing YGG tokens to join its ecosystem
The fund Gam3Girl Ventures, focused on Web3 gaming incubation in Asia, announced a strategic investment in Yield Guild Games (YGG) by directly purchasing YGG tokens from the market to join its ecosystem.
OKX Ventures announces investment in Web3 innovative trading application Blum
According to official news, OKX Ventures announced a seed round investment in the innovative trading application Blum, which aims to create a trading experience connecting DEX and CEX for 90 million users. This round of financing was led by gumi Cryptos Capital, with participation from Spartan and No Limit Holdings. It also received continued investment from seed pre-round supporters YZi Labs and Top.co, as well as participation from well-known institutions like Bitscale Capital and Wintermute. Currently, Blum has raised a total of $5 million in seed pre-financing and seed round financing. “This funding marks an important milestone for Blum as it will drive the development of our trading features. We are very grateful to OKX Ventures and other supporters for their confidence in us,” said Gleb Kostarev, CEO and co-founder of Blum. “From day one, Blum has attracted the attention of investors and users. Our approach to financing is not just about securing funds; it is about carefully selecting partners with expertise and resources that can enhance the user experience.” OKX Ventures partner Jeff Ren stated, “We are excited to invest in Blum, which is one of the largest Telegram Web3 communities. At the same time, we will establish a partnership with Blum through OKX Connect to attract more users together. Through this investment, we hope to once again demonstrate our willingness and determination to promote the development of the Ton ecosystem.”
AI
Musk: Grok 3 will be released in about one to two weeks
Musk: In testing, Grok 3 has outperformed any released product we know of. We are in the final stages, and Grok 3 will be released in about one to two weeks.
OpenAI board questions Musk's $97 billion acquisition proposal, citing inconsistency
According to The New York Times, the OpenAI board has questioned the $97.4 billion acquisition proposal made by investors including Elon Musk, stating in court documents on Wednesday that the proposal contradicts Musk's claims in a lawsuit against OpenAI last year. OpenAI stated in the documents that Musk previously argued that the company's assets must remain under the control of a non-profit organization and cannot be transferred to other entities for public benefit, yet he is now attempting to acquire those assets. OpenAI believes this exposes Musk's "hypocrisy." Musk's lawyer, Marc Toberoff, responded that the core of the lawsuit is not about OpenAI's control but about the misconduct of Sam Altman and OpenAI. He stated that if OpenAI is willing to abandon its plan to "sell" non-profit assets, Musk will withdraw the acquisition proposal.
Musk's X agrees to pay about $10 million to settle Trump lawsuit
According to The Wall Street Journal, Elon Musk's social platform X (formerly Twitter) has agreed to pay about $10 million to settle a lawsuit with Donald Trump regarding his account suspension. This makes X the second platform, after another social media company, to settle a lawsuit over Trump's account ban following the Capitol riot on January 6, 2021. Trump and other plaintiffs sued then-Twitter and its former CEO Jack Dorsey in 2021. Musk completed his acquisition of Twitter on October 27, 2022. Trump's X account (formerly Twitter account) was restored on November 19, 2022.
OpenAI CEO unveils GPT-4.5 and GPT-5 roadmap, expected to launch in the coming weeks or months
According to the roadmap released by OpenAI CEO Sam Altman, GPT-4.5 (codenamed Orion) will be OpenAI's last non "Chain-of-Thought" model, expected to launch in the coming weeks or months. After that, OpenAI will integrate the o series with the GPT series models to use tools more intelligently and adapt to different task requirements. GPT-5 will combine the o3 model and integrate features such as voice, Canvas, search, and deep research. Free users of ChatGPT will have unlimited access to the standard intelligent version of GPT-5, while Plus and Pro users will have access to higher intelligence levels of the GPT-5 version.
Project Updates
Binance will launch Heima (HEI) 1-75x U-based perpetual contracts
Binance announced the launch of Heima (HEI) and will support HEI trading across various functions including finance, one-click buy, flash exchange, leverage, and contracts. The specific arrangements are as follows: Binance Finance: HEI's principal-protected earning product will go live on February 13 at 16:00, and users can subscribe immediately; starting from February 14 at 18:00, users can purchase HEI through the regular investment platform. One-click buy & sell: Users can purchase HEI using credit cards, Google Pay, Apple Pay, or use wallet balances for buy and sell transactions, expected to be enabled within one hour after HEI's spot launch. Flash exchange: HEI can be exchanged for BTC, USDT, or other tokens, with no exchange fees, expected to be opened within one hour after the spot launch. Leverage trading: HEI will be added as a borrowable asset at 19:00 on February 13, supporting HEI/USDT and HEI/USDC trading pairs, with VIP 7 to VIP 9 users able to borrow related assets 30 minutes in advance. Contract trading: HEI U-based perpetual contracts will go live at 17:00 on February 13, supporting 1-75x leverage.
Upbit will list TRUMP in the KRW, BTC, and USDT markets
According to the official announcement, the South Korean crypto exchange Upbit will list TRUMP in the KRW, BTC, and USDT markets, with trading expected to start on February 13 at 17:00.
Bittensor is about to launch the dTAO upgrade, optimizing the token issuance mechanism
According to an official announcement on Bittensor's Discord, the Dynamic TAO (dTAO) upgrade will go live between 16:00 and 17:00 EST on February 13. This upgrade is considered the most significant since the establishment of the Bittensor network, aiming to change the issuance mechanism from a trusted capital allocation model dominated by a few large validators to a market-determined issuance mechanism. After the upgrade, each AI market (currently the TAO subnet) will operate using independent tokens, with issuance volumes dynamically adjusted based on the relative market prices of each token to enhance fairness and liquidity.
BNB's market cap surpasses Solana, rising to the fifth position in cryptocurrency market cap
CoinGecko data shows that BNB (Binance Coin) has risen 23.7% in the past week, currently priced at $709.13, with a total market cap of $103.5 billion, successfully surpassing Solana's (SOL) market cap of $96 billion, climbing to the fifth largest asset in the crypto market. Solana is currently priced at $196.61, with its market cap ranking dropping to sixth place. BNB's recent strong rise may be influenced by increased market demand and the expansion of the BNB Chain ecosystem.
MyShell will launch SHELL token generation activities on Binance Wallet and PancakeSwap
According to the official announcement, the decentralized AI consumption layer project MyShell will conduct a token generation event (TGE) on February 13 from 10:00 to 21:59 (Beijing time) on Binance Wallet and PancakeSwap. Details of the SHELL token subscription are as follows:
- Total fundraising amount: $800,000 (settled in BNB)
- Total issuance: 40 million tokens (4% of total supply)
- Token price: 0.00003175 BNB (approximately $0.02)
- Individual subscription limit: 3 BNB
- Allocation method: distributed based on subscription amount (Pro-rata Basis)
- Lock-up period: no lock-up
- DEX trading launch time: February 13 at 22:00 (Beijing time)
Participation method: Users need to create a Keyless wallet in Binance Wallet, hold BNB, and submit their subscription during the event. MyShell tokens will be used for governance, AI content creation support, in-platform payments, and asset trading pairs.
Important reminder: The SHELL token will not be open for trading until the TGE ends, and all tokens circulating in advance are counterfeit. Please be sure to verify the official contract address.
Coinbase will list POPCAT and PENGU trading
According to Coinbase's announcement, the platform will soon support trading of Popcat (POPCAT) and Pudgy Penguins (PENGU) on the Solana network (SPL tokens). Users must ensure that transfers are made only on the Solana network to avoid loss of funds. The POPCAT-USD and PENGU-USD trading pairs are expected to go live on February 13 at 9 AM Pacific Time (1 AM Beijing time on February 14), provided liquidity conditions are met. Some regions may be subject to trading restrictions.
Robinhood Q4 crypto trading volume surges 400% to $70 billion
According to The Block, Robinhood reported its fourth-quarter earnings, showing a 400% year-over-year increase in cryptocurrency trading volume to $70 billion. Previously, this trading volume had been declining throughout 2024, with the first three quarters recording $36 billion, $21.5 billion, and $14.4 billion, respectively. The company's Q4 trading revenue increased by 200% year-over-year to $672 million, with cryptocurrency trading revenue reaching $358 million, a 700% increase. Meanwhile, stock trading volume grew by 154% to $423 billion. Robinhood added seven new crypto assets during Q4 and launched Ethereum staking services in the EU. Robinhood CEO Vlad Tenev stated in December that the company had discussed the possibility of holding Bitcoin internally, but there are currently no plans for BTC reserves. The company also announced plans to launch Bitcoin, oil, and gold futures trading in early 2025.
Phantom wallet services have resumed normal operations
According to Phantom's announcement, all services have now resumed normal operations. The official apologized for the downtime incident and emphasized the importance of user access to assets, promising to take measures to prevent similar failures in the future.
Opinions
Glassnode co-founder Negentropic stated that after inflation data exceeded expectations, Bitcoin's price briefly touched the liquidity point of $94,000 and fell back to $96,000 after a short rise to $98,000. He pointed out that the current weak market liquidity and slowing network growth are potential risk signals, and if conditions do not improve, Bitcoin's price may further drop to $92,000.
Important Data
The Ethereum Foundation deposits 10,000 ETH each into Aave and Spark
According to Lookonchain monitoring, the Ethereum Foundation has just deposited 10,000 ETH each into Aave and Spark, with a total value of approximately $53.48 million. Previously, it was reported that the Ethereum Foundation transferred 50,000 ETH to a multi-signature wallet for participation in DeFi.
According to Whale Alert monitoring, 20 million TRUMP tokens valued at approximately $342 million were transferred from Binance to an unknown new wallet at 14:47. Earlier today, it was reported that Upbit would list TRUMP in the KRW, BTC, and USDT markets.
According to Whale Alert monitoring, approximately 1.4 billion USDC was transferred from Binance to an address starting with 0xad354 ten minutes ago, including: 700 million USDC transferred to the address starting with 0xad354 at 14:57; 699,999,990 USDC transferred to the address starting with 0xad354 at 14:56.
According to The Block, trading volume for the Pump.fun token on Solana has recently cooled, with an average daily trading volume of only $560 million over the past week, marking a new low since Christmas 2024, a significant drop of 82% compared to the single-day peak of $3.13 billion three weeks ago. Additionally, the graduation rate of Pump.fun tokens on Raydium has also declined, with only 1.04% of tokens successfully graduating last week, compared to 1.54% and 1.59% in the previous two weeks. Meanwhile, tips for Jito validators on the Solana network have dropped from 68,500 SOL ($17.5 million) two weeks ago to 23,800 SOL ($4.8 million) last week, indicating a decrease in trading activity. The recent meme coin market on Solana has been described as an "euthanasia rollercoaster" effect, where the market cap peaks of each new coin gradually decrease. For example, $TRUMP reached a fully diluted valuation (FDV) of $75 billion, while subsequent coins $MELANIA, $VINE, $JELLYJELLY, and the latest $JAILSTOOL saw their market cap peaks drop to $13 billion, $500 million, $250 million, and $220 million, respectively, showing a gradual cooling of market sentiment.
A whale withdrew 104,509 ETH from Binance in two days, valued at $279 million
According to Spot On Chain monitoring, a whale net withdrew 104,509 ETH (approximately $279 million) over the past two days at an average price of $2,669, depositing most of the funds into or staking them on decentralized platforms such as Etherfi, Lido Finance, Spark, Compound, Aave, Gearbox, and Morpho.
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