Organized by: Cora, Techub News
**TinTinLand
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Fear and Greed Index: 8 (Extreme Greed)
Bitcoin Price: $69,879
BTC/ETH Spot ETF Fund Flow (2.6)
BTC Net Inflow: $92.08 M
ETH Net Inflow: $18.60 M
Hong Kong
BTC/ETH Spot ETF Fund Flow (2.6)
BTC Net Subscription/Redemption: 0 BTC
ETH Net Subscription/Redemption: 0 ETH
Alchemy Pay Invests in Hong Kong SFC Licensed Institution HTF Approved for License Upgrade
Cryptocurrency payment company Alchemy Pay has partnered with Hong Kong SFC licensed institution HTF Securities Limited to complete the upgrade of the SFC's Type 4 (Advising on Securities) license VA. This development builds on Alchemy Pay's previous strategic investment in HTF Securities, and both parties will also collaborate to advance the application for the upgrade of Type 1 and 9 licenses for virtual asset business.
Consensus Hong Kong 2026 Surrounding Event Guide
Hosted by CoinDesk, Consensus Hong Kong 2026 will take place from February 10 to 12 at the Hong Kong Convention and Exhibition Centre.
Regulation/Macro
Brazil Plans to Ban Algorithmic Stablecoins, Violators Could Face Up to 8 Years in Prison
Brazil's Congressional Committee on Science and Technology has passed Bill 4.308/2024, which prohibits the issuance or trading of algorithmic stablecoins such as Ethena's USDe and Frax. The new bill requires that all stablecoins issued in Brazil must be fully backed by reserve assets, and the issuance of uncollateralized stablecoins will be considered financial fraud, punishable by up to 8 years in prison. For foreign-issued stablecoins like USDT and USDC, they can only be provided by companies authorized to operate in Brazil, and exchanges must ensure that foreign issuers comply with Brazilian regulatory standards.
Project/Company Updates
Strategy CEO Phong Le stated during the company's fourth-quarter financial performance webinar that Bitcoin would need to drop to $8,000 and remain at that level for five to six years to pose a real threat to repaying its convertible debt. "In extreme adverse conditions, if Bitcoin's price drops by 90% to $8,000, our Bitcoin reserves would equal our net debt, and we would not be able to repay the convertible bonds with our Bitcoin reserves. At that point, we would consider restructuring, issuing additional stock, or issuing additional debt."
Kalshi Establishes Independent Advisory Committee to Strengthen Trading Regulation
Prediction market platform Kalshi announced the establishment of an independent advisory committee and a new trading regulation partnership with Solidus Labs and Daniel Taylor, Director of the Wharton School's Forensic Analysis Lab, to further enhance market monitoring and compliance programs.
Pump.fun Acquires Trading Execution Terminal Vyper
Pump.fun has acquired the trading execution terminal Vyper. The Vyper team stated, "Vyper's infrastructure will soon migrate to [Terminal]. As part of the migration process, Vyper will soon cease operations." Last October, Pump.fun acquired Padre and rebranded it as Terminal.
Relay Completes $17 Million Series B Financing, Led by Archetype and USV
Interoperability infrastructure Relay announced the completion of $17 million in Series B financing, led by Archetype and USV. The funds will be used to launch infrastructure built for instant cross-chain settlement, Relay Chain.
Circle Partners with Polymarket to Introduce Stablecoin Infrastructure for Prediction Markets
Circle announced a partnership with Polymarket. Circle stated that the focus of this collaboration is to introduce transparent, fully-backed stablecoin infrastructure for prediction markets.
Tether Invests $100 Million in Anchorage Digital
Tether announced a strategic equity investment of $100 million in Anchorage Digital. Tether stated that Anchorage Digital Bank N.A. is the first federally regulated digital asset bank in the U.S., playing a crucial role in integrating digital assets into the mainstream financial system.
Bitwise Submits S-1 Registration Filing for Uniswap ETF to the SEC
Bitwise has submitted an S-1 registration filing for the Bitwise Uniswap ETF to the SEC. The filing indicates that the ETF is managed by Bitwise Investment Advisers and custodied by Coinbase Custody, which is currently not participating in staking but may introduce it in the future through amended registration filings.
Tether Spends $150 Million to Acquire 12% Stake in Gold.com to Promote Tokenized Gold Distribution
Tether has spent $150 million to acquire a 12% stake in the gold and tokenized gold trading platform Gold.com (GOLD). As part of the collaboration, Tether will integrate its gold-backed token XAUT into Gold.com’s infrastructure.
In-Depth & Outlook
Tokenized money market funds can digitally meet investors' similar needs while unlocking new advantages, including greater settlement flexibility, portability, and collateral efficiency, and are expected to enhance financial stability through faster and more transparent redemption processes.
A Covert War Among Cryptocurrency Exchanges
Essentially, it is leveraged perpetual contracts, with gameplay almost identical to BTC or ETH contracts. The bull market dividends of traditional assets are fully packaged by the efficiency tools of crypto platforms, allowing users to adjust positions and hedge systemic risks at any time. Many believe this is the ultimate form of decentralized exchanges: bringing truly valuable assets into a 24/7 uninterrupted ecosystem, freeing traders from the constraints of traditional trading sessions.
Opinions
Last night, after Bitcoin fell below the key psychological price of $70,000, its price plummeted again this morning, crashing to $60,000, marking the lowest record since September 2024. Compared to last October's historical peak of $126,000, this drop exceeds 52%, effectively "halving."
No Black Swan: Four Atypical Speculations on Bitcoin's Overselling "Culprit"
Without any apparent warning, Bitcoin suddenly plummeted, entering the third-largest oversold zone in history, with the balances of bullish accounts collapsing alongside their psychological defenses. What confuses the market is that this spiral decline lacks a clear trigger.
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