Weekly Preview | The UK holds a hearing on the asset disposal in the money laundering case involving Zhiming Qian; WLFI hosts the first "World Liberty Forum" at Mar-a-Lago.

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News Preview:

  • 60,000 bitcoins in the Qian Zhimin money laundering case are stuck in asset disposal, and a hearing will be held on February 16;
  • Flying Tulip will launch its public sale on February 16;
  • 21shares will distribute staking rewards to Solana ETF holders on February 17;
  • The Trump family’s crypto project WLFI will host the first "World Liberty Forum" at Mar-a-Lago on February 18;
  • The US Supreme Court will release opinions related to tariffs on February 20;
  • LayerZero (ZRO) will unlock approximately 25.71 million tokens at 7 PM Beijing time on February 20, accounting for about 5.98% of its circulating supply, worth approximately 49.1 million USD;

February 16

Policy Regulation:

Caixin: 60,000 bitcoins in the Qian Zhimin money laundering case are stuck in asset disposal, and a hearing will be held on February 16

8,300 Chinese victims are applying for compensation in the 60,000 bitcoins Qian Zhimin money laundering case, which is stuck in asset disposal. Many law firms are representing them separately, and the UK judge sees issues of repeated submissions, repeated debates, and prolonged procedures, while legal fees are also rising, ultimately needing to be paid by the Chinese victims.

It is reported that on the eve of the Lunar New Year and the first day of the New Year (February 16 and 17, 2026), a hearing involving over 30 billion RMB and concerning nearly 130,000 Chinese victims will be held in the UK High Court, which is the asset disposal procedure of the highly watched 60,000 bitcoins money laundering case. Furthermore, the price of bitcoin has been volatile, with the market value of 60,000 bitcoins shrinking from approximately 54 billion RMB on October 6, 2025, to about 31 billion RMB in early February 2026.

Project Updates:

Flying Tulip will launch its public sale on February 16, with TGE on February 23

Flying Tulip, an on-chain financial system founded by Andre Cronje, announced that the FT token will start its public sale on February 16 and will conduct TGE on February 23. Previously, Flying Tulip completed its token sale on CoinList, with commitments nearing 10 million USD.

Eurozone finance ministers plan to discuss issuing euro stablecoins and joint debt on February 16

Eurozone finance ministers will discuss how to enhance the global status of the euro and strengthen Europe's economic security through the issuance of euro-denominated digital assets (such as stablecoins, tokenized deposits, and central bank digital currency CBDC) and increasing EU joint debt. The European Commission's document states that in the face of the increasing "weaponization" risk of the international monetary and financial system, the EU needs to take action to enhance its financial security. Currently, euro-denominated tools account for less than 1% of the rapidly growing stablecoin market, dominated by dollar assets, which increases the risk of European capital flowing to the US. Additionally, the proposal suggests deepening the euro debt market through the issuance of increased EU joint debt and establishing an independent European payment system separate from Visa and Mastercard. The document also mentions that finance ministers will consider converting the 500 billion euro European Stability Mechanism (ESM) into an official EU institution to play a similar role to the EU Debt Management Agency.

KBC Bank in Belgium will launch cryptocurrency trading services in the week of February 16

KBC Bank in Belgium announced it will start providing cryptocurrency buying and selling services for private investors through its online investment platform Bolero starting in the week of February 16. Initially, the service will support trading of Bitcoin and Ethereum. This crypto service will operate under the European MiCAR regulatory framework, and KBC has submitted a Crypto Asset Service Provider (CASP) notification to regulators. Bolero will adopt a closed-loop model, allowing customers to trade only within the platform, not supporting fund transfers between other platforms, with custody services provided by KBC.

Token Unlocking:

Arbitrum (ARB) will unlock approximately 92.65 million tokens at 9 PM Beijing time on February 16, accounting for about 1.82% of its released supply, worth approximately 11.2 million USD;

February 17

Project Updates:

Figure will issue blockchain-based stocks, pricing planned for February 17

Fintech company Figure Technology Solutions Inc. has officially begun promoting 4.23 million shares of blockchain-based native stock to investors. According to insiders, the company plans to set the price after the close of the New York market on February 17. These stocks are provided by a group of unnamed shareholders and will be traded on Figure's own developed blockchain-based alternative trading system instead of the traditional Nasdaq market. The company also plans to buy back up to 30 million USD worth of shares after the issuance ends.

Nomina (NOM) plans to migrate its activity to Ethereum around February 17

The on-chain trading terminal Nomina (NOM) announced it will simplify its infrastructure and fully integrate with Ethereum. As part of this integration, all NOM staked or held on Omni Core will be automatically migrated to Ethereum as ERC-20 tokens. This migration is planned to occur around February 17, 2026 (final date TBD). Prior to this, Omni Core will remain fully operational, allowing users to manage positions, withdraw, or cross-chain assets normally.

21shares will distribute staking rewards to Solana ETF holders on February 17

Crypto ETF issuer 21shares announced it will distribute SOL staking rewards to holders of the 21shares Solana ETF (TSOL), with each TSOL shareholder receiving 0.316871 USD per share, with the payment date on February 17, 2026.

The new proposal from Jupiter aims to achieve "net zero emissions" by indefinitely suspending team token releases, voting starts on February 17

Jupiter announced a significant proposal aimed at achieving a zero net release of tokens in the future. The final decision on the proposal will be made by a vote by the DAO, with related proposals set for community discussion on February 16, and voting starting on February 17.

The proposal includes four measures: First, the indefinite postponement of the Jupuary airdrop, with all 700 million JUP returned to the community multisig cold wallet for future use. The usage at the current time point and staking snapshots will be preserved. When market conditions, token status, and market sentiment are more suitable, this matter will be renegotiated with the DAO; Second, indefinitely suspend the release of tokens to team members. As an alternative, team members will receive JUP in the form of Jupiter balance sheet debt, and if members wish to sell their allocated tokens, they will be bought directly by Jupiter's balance sheet; Third, fully hedge against selling pressure from Mercurial stakeholders, accelerating its unlocking process and purchasing an equivalent amount of tokens through Jupiter's own balance sheet to absorb potential impacts from token sales.

CoinShares submits revised F-4 registration draft to the SEC, related hearing to be held on February 17

Digital asset management company CoinShares and special purpose acquisition company Vine Hill (VCIC) announced they have submitted a revised F-4 form registration draft to the U.S. Securities and Exchange Commission (SEC) on February 2, 2026, this submission follows the initial registration draft submitted confidentially on November 21, 2025, representing ongoing progress in the transaction regulatory review process, with the merger transaction still proceeding as planned, but it must meet customary closing conditions, including obtaining approval from CoinShares and Vine Hill's respective shareholders, necessary legislation from the Royal Court of Jersey, the effectiveness of the F-4 form, and approval from local regulatory authorities, with the related hearing scheduled for February 17, 2026.

Token Unlocking:

YZY (YZY) will unlock approximately 62.5 million tokens at 11 AM Beijing time on February 17, accounting for about 17.24% of its circulating supply, worth approximately 20.6 million USD;

February 18

Project Updates:

The Trump family’s crypto project WLFI will host the first "World Liberty Forum" at Mar-a-Lago on February 18

The Trump family's crypto project World Liberty Financial will host the first "World Liberty Forum" at Mar-a-Lago on February 18, 2026, focusing on the future development of finance, technology, and policy. Attendees will include Goldman Sachs Chairman and CEO David Solomon, Franklin Templeton CEO Jenny Johnson, CFTC Chairman Michael Selig, FIFA President Gianni Infantino, along with WLFI co-founder Eric Trump and Donald Trump Jr. The forum will cover topics such as the evolution of financial markets, digital assets, artificial intelligence, geopolitical risks, and public-private cooperation, expecting to host about 300 participants from business, investment, and policy fields.

The DeFi derivatives protocol Polynomial will cease operations, with forced liquidations on February 18

The DeFi derivatives protocol Polynomial announced it has ceased operations and entered winding up as of February 14 Beijing time, with both Polynomial Chain and Polynomial Trade to be closed, forced liquidations on February 18, liquidity layer closure on February 24, and chain operation cessation on March 3. Polynomial stated that technology is not the moat in the derivatives market, but liquidity is, which it lacked; its TVL peaked at only 8 million USD. The team indicated that new companies will still relate to derivatives.

Pump.fun establishes an investment division Pump Fund, application deadline on February 18

Pump.fun announced via Twitter that it has established an investment division called Pump Fund. This fund will promote the development of startup projects within the ecosystem through long-term partnerships with projects. Additionally, Pump Fund will launch a 3 million USD public construction hackathon activity, providing 250,000 USD in funding for 12 projects (project valuation of 10 million USD) and many opportunities including guidance from Pump.fun founders. The application deadline is February 18, 2026.

February 19

Macroeconomics:

The Federal Reserve will release minutes of the monetary policy meeting, and the Philadelphia Fed manufacturing index for February;

Exchanges:

Upbit will delist Groestlcoin token GRS, withdrawal support will terminate on February 19

Upbit announced that Groestlcoin (GRS) will be delisted by the member exchanges of the Digital Asset Exchange Association (DAXA). DAXA member exchanges may take measures to protect users, including issuing warnings, designating GRS as a trading alert asset, and terminating trading support. Upbit stated it will support withdrawals for 34 days from the termination of trading support (until February 19, 2026).

February 20

Policy Regulation:

The US Supreme Court will release opinions related to tariffs on February 20

The US Supreme Court stated it will hold its next opinion release day on February 20, at which time it will issue legal opinions on the legality of the tariff measures implemented by former President Trump.

Token Unlocking:

LayerZero (ZRO) will unlock approximately 25.71 million tokens at 7 PM Beijing time on February 20, accounting for about 5.98% of its circulating supply, worth approximately 49.1 million USD;

KAITO (KAITO) will unlock approximately 32.6 million tokens at 8 PM Beijing time on February 20, accounting for about 10.64% of its released supply, worth approximately 10.6 million USD;

February 21

None

February 22

Project Updates:

USD.AI will conduct a token sale on CoinList starting February 22

CoinList announced it will conduct a sale event for USD.AI, which is only open to users who participated in the USD.AI "Allo Game" points event, eligible users can directly participate through CoinList during the sale window from February 22 to 27. Participants will receive guaranteed allocations based on the points gained in the Allo Game, and users can apply for additional purchases beyond the guaranteed allocation; if the sales are not met, the excess will be allocated proportionally. The token for USD.AI is named CHIP, with a total supply of 10 billion tokens, of which 700 million will be sold in this sale, with the price per token at 0.03 USD, corresponding to an FDV of 300 million USD, expected to be 100% unlocked at the March TGE, with a minimum purchase amount of 100 USD.

Token Unlocking:

MBG By Multibank Group (MBG) will unlock approximately 27.15 million tokens at 8 PM Beijing time on February 22, accounting for about 10.96% of its released supply, worth approximately 8.3 million USD;

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