24H Hot Cryptocurrencies and Key News｜Fed's Bostic: Perhaps One or Two Rate Cuts Could Reach Neutral Level; Trump-Powell Dispute Becomes a "Stumbling Block" for Wash's Appointment (February 3rd)

1. Hot Tokens on CEXs

Top 10 CEX Trading Volume and 24-hour Price Changes:

• BTC: +1.24%
• ETH: +1.39%
• SOL: +1.35%
• BNB: +0.67%
• WLFI: -1.37%
• DOGE: +2.21%
• Binance Life: -2.31%
• MDT: +2.34%
• SENT: -3.85%
• UTK: -2.63%

24-hour Top Gainers (Data Source: OKX):

• ZAMA: +8.97%
• KAIA: +7.96%
• MERL: +7.64%
• ASP: +6.58%
• STX: +5.83%
• SOPH: +4.51%
• SSV: +4.49%
• XAUT: +4.29%
• RESOLV: +4.13%
• PAXG: +4.09%

24-hour Top Gainers - Tokenized Stocks (Data Source: msx.com):

• SNDK: +18.27%
• WDC: +8.61%
• GME: +8.46%
• SOXL: +8.16%
• PLTR: +7.79%
• STX: +7.46%
• MU: +6.41%
• INTC: +6.04%
• AMD: +5.92%
• COHR: +5.37%

2. On-Chain Hot Memes (Data Source: GMGN):

• ELON
• BARRON
• ELON MUSK
• CCT
• stars

Headlines

Fed's Bostic: Perhaps One or Two Rate Cuts Could Reach Neutral Level

Federal Reserve's Raphael Bostic stated that current policy is not highly restrictive, and perhaps one or two rate cuts could reach a neutral level. He previously did not expect rate cuts in 2026.

Trump-Powell Dispute Becomes a "Stumbling Block" for Warsh's Appointment

Institutions point out that before the new Fed Chair can begin pushing for rate cuts, Trump may have to abandon punitive actions against Powell. Trump's criminal complaint against Powell has angered some of Trump's allies in Congress and led key Republican Senator Tillis to vow to block all Fed nominations until the investigation concludes. As of now, Tillis remains firm in his stance. Meanwhile, Trump has not backed down, even suggesting he is willing to wait until Tillis retires in January 2027 to get Warsh approved by the Senate.

Trump: Working with House Speaker Johnson to Advance Funding Bill

Trump posted, stating he is working with U.S. House Speaker Mike Johnson to advance the funding agreement passed in the Senate last week through the House and to his desk, where he will sign it into law immediately! We must get the government working again. I hope all Republicans and Democrats will join me in supporting this bill and get it to my desk as soon as possible, without delay. There can be no changes now. We will work in good faith to address the issues raised, but we cannot have another long, pointless, and highly damaging shutdown that severely harms our country—such a shutdown would not benefit Republicans or Democrats. I hope everyone will vote for it.

Multiple ETH Treasury Companies Face Losses, BitMine's ETH Holdings Show $6.95 Billion Paper Loss

Affected by the crypto market downturn, corporate Bitcoin and Ethereum treasuries are facing significant paper losses. BitMine, as the company holding the most ETH, currently has an unrealized loss of $6.95 billion on its holdings, with an average purchase price of $3,883, while ETH's current price has fallen to $2,240. Additionally, SharpLink Gaming faces a $1.09 billion paper loss.

Due to market pressure, some institutions have begun reducing positions. Trend Research (0x4a2...b82) sold a cumulative 53,589 ETH today to repay debts, worth approximately $123 million. Although the institution still holds 618,000 ETH, it has incurred over $534 million in unrealized losses. Trend Research founder Jack Yi stated that previously believing ETH was undervalued at $3,000 and being prematurely bullish was a mistake. Meanwhile, Nansen data shows Smart Money addresses bought $38.3 million worth of ETH against the market trend in the past week.

UBS Group Has Increased Its Stock Holdings in MicroStrategy to $805 Million

UBS Group disclosed that it increased its holdings by 3.23 million shares of Bitcoin treasury company MicroStrategy (MSTR), now holding a total of 5.76 million shares worth $805 million.

Justin Sun: Plans to Purchase $50 Million to $100 Million Worth of Bitcoin

Tron founder Justin Sun revealed to the media that he plans to add $50 million to $100 million worth of Bitcoin to the blockchain's holdings. This purchase plan comes as Bitcoin's price once fell to $74,674, having dropped 21% cumulatively since January 15.

Industry News

GameStop May Phase Out Bitcoin, Plans to Pursue "Super Merger" in Consumer Sector

GameStop CEO Ryan Cohen stated the company is planning a high-risk, high-impact merger targeting a "very, very large" publicly traded consumer company. This move may imply GameStop will gradually exit its Bitcoin allocation.

In an interview with CNBC, Ryan Cohen described the acquisition as "transformative," potentially pushing GameStop's valuation into the hundreds of billions and having a profound impact on capital markets. He said the potential target should have an undervalued stock price, solid fundamentals, and "unambitious management," and plans to improve its efficiency using GameStop's capital, governance, and operational capabilities.

Reports indicate that last week, on-chain data showed GameStop transferred all 4,710 of its held Bitcoin to Coinbase Prime, sparking market speculation it might sell Bitcoin to fund the merger. Ryan Cohen did not directly respond to whether he would liquidate Bitcoin, only stating the new strategy is "more attractive than Bitcoin." The news pushed GME's stock price up over 8% on Monday, with a year-to-date increase of about 25%.

DiscusFish: When Bitcoin Falls to $75,000, 23.3W/T Miners Will Reach Shutdown Price

Cobo & F2pool co-founder DiscusFish posted on X platform, stating Bitcoin fell nearly 15% this week. When Bitcoin's price reaches $75,000, miners with a power efficiency of 23.3W/T will reach the break-even point (i.e., shutdown price).

WSJ: Cboe Plans to Relaunch Binary Options to Enter Prediction Markets

The Chicago Board Options Exchange (Cboe) is in early discussions with retail brokers and market makers to relaunch binary options contracts, aiming to compete in the fast-growing prediction market. Kalshi and Polymarket reached $17 billion in trading volume in January, setting a monthly record high. Cboe launched the product in 2008 but later delisted it and is now seeking to reposition it as a starting point for retail investors to enter the options market through compliant design. The plan will be regulated by the SEC or CFTC.

Viewpoint: Nomination of Kevin Warsh as Fed Chair is a Mixed Bag for Bitcoin and Liquidity

The U.S. President nominated Kevin Warsh as the new Federal Reserve Chair. Kraken Global Economist Thomas Perfumo stated this nomination implies overall market liquidity is expected to stabilize rather than expand significantly, maintaining a complex macro backdrop for Bitcoin and cryptocurrencies. Coin Bureau co-founder Nic Puckrin believes that due to Kevin Warsh's advocacy for shrinking the Fed's balance sheet, market concerns about future low liquidity environments have led to declines in cryptocurrency, stock, and precious metal markets. Currently, CME Group data shows 85% of market participants expect the March 18 meeting to keep rates unchanged.

Project News

Sky: Repurchased 130 Million SKY in January, Cumulative Buyback Exceeds $106 Million

Sky posted on X platform, stating that Sky Protocol (MakerDAO) used 8.5 million USDS to repurchase 130 million SKY in January. Since the plan's launch in February 2025, the total USDS used for buybacks has exceeded 106 million USDS.

Optimism to Transfer 6,400 ETH Today for Liquid Staking

Optimism Governance announced it will transfer 6,400 ETH between wallets later today to enable liquid staking of Optimism Collective treasury assets.

According to the previously released Liquid Staking RFP, Optimism plans to allocate 40% (approximately 6,400) of its roughly 21,500 ETH treasury assets to liquid staking protocols on the OP mainnet, with the remaining 60% used for native staking on the Ethereum mainnet.

CrossCurve: EYWA Token Exploit Contained, Hacker Unable to Sell Stolen Tokens

CrossCurve posted on X platform, stating the exploit of its EYWA token has been contained. The hacker withdrew EYWA from the cross-chain bridge on the Ethereum network, but because the only deposit channel for this token on Ethereum is XT.com Exchange and it has been frozen, the hacker cannot use these tokens. Users' EYWA and all tokens on the Arbitrum network are safe. To further ensure security, the project is contacting KuCoin, Gate.io, MEXC, BingX, and BitMart Exchange to ensure the hacker cannot sell or use the stolen tokens. The stolen EYWA tokens will not enter circulation. The team is conducting a comprehensive investigation.

Market News: Hyperliquid Testing Native Prediction Market on Testnet

Hyperliquid is testing a native prediction market on its testnet.

Despite Weekend Market Crash, Prediction Market Weekly Transaction Count Hits New Record High

According to Dune data, despite the crypto market crash last weekend, prediction market trading remained active, with the weekly transaction count reaching a new record high of 26.39 million. Among them, Polymarket had 13.34 million transactions, ranking first; Kalshi had 11.88 million transactions, ranking second; Opinion had 379,300 transactions, ranking third.

Additionally, prediction market weekly trading volume remains high. Polymarket's weekly trading volume was $2 billion, up 18.4% week-over-week, ranking first; Kalshi's weekly trading volume was $1.4 billion, up 8.5% week-over-week, ranking second.

Regulatory Developments

New York Attorney General Criticizes GENIUS Stablecoin Act: Insufficient Consumer Protection

New York State Attorney General Letitia James and four local district attorneys recently sent letters to several Democratic lawmakers, criticizing the "GENIUS Stablecoin Act" signed into law by Trump last year for having major flaws in consumer protection, particularly for not requiring stablecoin issuers to return stolen funds in case of theft.

The letter named Tether (USDT) and Circle (USDC), arguing that the two major stablecoin issuers could still earn interest on related assets after funds are stolen, while victims lack effective recourse. New York prosecutors pointed out that while the bill grants stablecoins higher "legitimacy endorsement," it does not simultaneously strengthen key regulatory requirements such as anti-terrorist financing, anti-money laundering, and crypto fraud prevention.

The GENIUS Act is currently entering the implementation phase, requiring stablecoins to be fully backed by U.S. dollars or highly liquid assets and imposing annual audits on issuers with market capitalization exceeding $50 billion. However, New York prosecutors believe these measures are still insufficient to address the widespread use of stablecoins in illicit fund flows.

According to Chainalysis data, approximately 84% of illicit crypto transaction volume in 2025 involved stablecoins. Based on this, New York authorities are calling for further strengthening of the regulatory framework to better protect consumer rights.

South Korean Regulator Introduces AI Algorithm to Monitor Crypto Market Manipulation

The Financial Supervisory Service of South Korea has upgraded its Virtual asset trading analysis Intelligence SysTem (VISTA) and introduced an automated detection algorithm to combat improper crypto trading. The algorithm uses sliding window grid search technology to automatically identify potential price manipulation intervals, reducing reliance on manual investigations. Performance tests show the system has successfully detected all known manipulation periods and previously difficult-to-find abnormal intervals. The Financial Supervisory Service has allocated a budget of 170 million won (approximately $116,000) for 2026 for AI performance upgrades. Future plans include automatically identifying coordinated trading account networks, analyzing abnormal trading texts for thousands of crypto assets, and tracing manipulation fund sources.

Hong Kong Monetary Authority: Plans to Issue First Batch of Stablecoin Issuer Licenses in March

Hong Kong Monetary Authority (HKMA) Chief Executive Eddie Yue stated at a Legislative Council meeting on Monday that the HKMA plans to issue the first batch of stablecoin issuer licenses in March, with the initial number of approvals being very limited. The HKMA has received 36 applications, and the review process is nearing completion. Key review areas include risk management, anti-money laundering controls, reserve asset quality, and use cases. Licensed issuers must comply with local cross-border activity regulations, and future exploration of mutual recognition arrangements with other jurisdictions is possible.

Voices

Galaxy Digital: Bitcoin May Test 200-Week Moving Average Around $58,000 in Coming Months

Galaxy Digital Head of Research Alex Thorn analyzed that Bitcoin's recent trend has clearly weakened. Between January 28 and January 31, Bitcoin fell approximately 15%, with a single-day drop of 10% on January 31, triggering over $2 billion in long contract liquidations. During this period, the price briefly fell to around $75,600, below the average cost basis of U.S. Bitcoin ETFs at around $84,000, and approached the annual low formed in April 2025 around $74,400. Currently, about 46% of Bitcoin's supply is in an unrealized loss state.

The analysis suggests Bitcoin could further decline to the