24H Hot Cryptocurrencies and Key News｜US Senate Democrats' Closed-Door Meeting Releases Positive Signals, Hope Remains for Crypto Legislation Advancement; CME Bitcoin Futures Show Significant Gap, Market Views It as a Potential Rebound Signal (February 5th)
- Core View: The current crypto market shows a broad decline, but the industry is undergoing structural adjustments. Traditional financial institutions are accelerating their deployment, regulatory dynamics are showing a positive shift, and market analysis indicates that investor preference is shifting from high-risk applications to long-term core infrastructure development.
- Key Elements:
- Market Performance: Major cryptocurrencies are generally declining, with BTC and ETH down over 3% in 24 hours. CME Bitcoin futures show a gap of approximately $7,000, seen as a potential technical rebound signal.
- Institutional Dynamics: CME Group is exploring the launch of its own crypto token; this move by the Wall Street derivatives giant could boost institutional confidence in tokenized assets. IG Group has completed the acquisition of crypto platform Independent Reserve, advancing its business in Asia-Pacific and the Middle East.
- Regulatory Shift: The US CFTC has formally withdrawn a draft proposal to ban political event prediction contracts, sending a clearer positive regulatory signal for prediction markets.
- Capital Flows: An industry survey shows that 85% of institutional investors prioritize infrastructure as their top investment focus. Capital preference is shifting from applications like DeFi to core facilities such as custody and clearing.
- Legislative Progress: The US Senate Democrats' closed-door meeting on crypto legislation released positive signals. Despite existing differences, prospects for legislative advancement remain.
1. Hot Tokens on CEXs
Top 10 CEX Trading Volume and 24-hour Price Changes:
- BTC: -3.75%
- ETH: -4.52%
- SOL: -5.57%
- BNB: -2.35%
- ZAMA: +0.14%
- SENT: -6.91%
- DOGE: -2.78%
- TRX: -1.22%
- Binance Life: -7.2%
- IDEX: +0.92%
- ATM: -3.74%
24-hour Top Gainers (Data Source: OKX):
- SNT: +11.11%
- RAY: +10.08%
- DOOD: +5.9%
- G: +5.73%
- WCT: +4.58%
- IOTA: +4.42%
- RPL: +4.39%
- DGB: +4.12%
- OMI: +4.08%
- LIT: +4.05%
24-hour Top Gainers - Tokenized Stocks (Data Source: msx.com):
- LITE: +10.66%
- LLY: +10.09%
- SIVR: +6.88%
- FIG: +5.61%
- WU: +4.79%
- SQQQ: +3.83%
- PFE: +3.49%
- ADBE: +3.13%
- SLB: +3.09%
- OXY: +2.85%
2. On-Chain Hot Memes (Data Source: GMGN):
- DJT
- HAPPINESS
- SAD
- ET
- TP
Headlines
According to reporter Eleanor Terrett, a Democratic staffer stated that the atmosphere of today's meeting was "positive" and called it "the most productive Democratic meeting to date." Chuck Schumer also attended the meeting, emphasizing the importance of industry participation and urging to maintain legislative momentum and expedite the passage of the bill.
Although Democrats still have clear demands regarding certain provisions, attendees generally believe that this legislative effort, which was considered "on the verge of being shelved" weeks ago, is "far from over," and prospects for advancement still exist.
CME Bitcoin Futures Show Significant Gap, Market Views It as a Potential Rebound Signal
CME Bitcoin futures showed a significant price gap during the weekend market closure, providing some optimism for market bulls. Data shows that CME's Bitcoin futures closed at approximately $84,445 on Friday, while the opening price dropped to $77,385 when trading resumed on Sunday night, corresponding to the spot market's earlier drop to around $75,000, thus forming a noticeable gap.
Note: A CME gap refers to a price discontinuity formed between the closing price of the futures market and the next opening price. Since CME futures are not traded 24/7, this price jump occurs due to mismatches with the continuously trading spot market during weekends or maintenance periods. Historical experience shows that while CME gaps are not an absolute rule and are typically filled within days or weeks, this phenomenon is still considered an important technical reference indicator by traders.
Probability of Fed Holding Rates Steady in March at 90.1%
According to CME "FedWatch Tool": The probability of the Fed cutting rates by 25 basis points by March is 9.9%, while the probability of holding rates steady is 90.1%. The probability of a cumulative 25 basis point rate cut by April is 23.2%, the probability of holding rates steady is 75.1%, and the probability of a cumulative 50 basis point cut is 1.6%. The probability of a cumulative 25 basis point rate cut by June is 46.0%.
US Republican Senator Urges Treasury to Purchase Bitcoin
Odaily News: According to market sources, some Republican lawmakers are urging the US Treasury to purchase Bitcoin. It is reported that Senator Cynthia Lummis has suggested Treasury Secretary Besant use US gold reserves to buy Bitcoin. She proposed this idea to Besant last year and stated she would support action within existing executive authority.
Industry News
Galaxy Digital: Client's Sale of ~$9B Bitcoin Not Due to "Quantum Computing Risk"
Alex Thorn, Head of Research at Galaxy Digital, stated that a Galaxy client's recent sale of approximately $9 billion worth of Bitcoin was not motivated by so-called "quantum computing risk" considerations.
He pointed out that although Galaxy Digital founder and CEO Mike Novogratz mentioned that some market views cite quantum computing as an explanation for Bitcoin's price weakness, Novogratz himself does not subscribe to this narrative.
CME Group CEO: Exploring Launch of Own Crypto Token "CME Coin"
Terry Duffy, CEO of Wall Street derivatives giant CME Group, stated that the company is studying the possibility of launching its own crypto token.
Responding to an analyst's question during the latest earnings call, Terry Duffy said CME is evaluating various forms of margin and collateral solutions, including tokenized cash, and "potentially its own token launched on a decentralized network for use by industry participants." He noted that tokens from systemically important financial institutions would be more reassuring as margin or settlement tools compared to those issued by small and medium-sized financial institutions.
It is reported that CME is currently collaborating with Google to advance a tokenized cash solution, planned for launch later this year, with transactions settled through deposit banks. The mentioned "own token" is seen as a separate exploration, and it is not yet clear whether it will be a stablecoin or a settlement token. CME has not provided further details.
If this plan materializes, it would be the first time CME explicitly proposes issuing its own asset on a decentralized network. Previously, among traditional financial institutions, JPMorgan has launched a tokenized deposit solution via JPM Coin. CME also stated that its crypto derivatives business is still expanding, with plans to achieve 24/7 trading for crypto futures in the second quarter of this year.
Trend Research Liquidation Price Lowered to ~$1640, Stopped Out on ~188.5K ETH Over Past Four Days
According to crypto analyst Yu Jin, from the afternoon of February 1st to now, Trend Research has stopped out on approximately 188,500 ETH over the past four days at an average price of around $2,263, involving about $426 million, and has repaid approximately $385 million USDT to reduce leverage levels.
After continuous deleveraging, the liquidation prices for several of its ETH borrowing positions have been lowered to the range of $1,576–$1,682, mainly concentrated around $1,640. Trend Research currently still holds about 463,000 ETH.
Nick Tomaino, founder of 1confirmation, posted on X that Polymarket's website monthly visits are continuously rising, while Robinhood and Coinbase's website monthly visits are showing a downward trend.
According to Onchain Lens monitoring, BitMEX co-founder Arthur Hayes (0x6cd...e21) transferred 3.63 million ENA (worth $486,000) and 332,000 PENDLE (worth $487,000) to Galaxy and Binance. Over the past 2 days, BitMEX co-founder Arthur Hayes purchased 96,116 HYPE, worth $3.42 million, and currently holds 161,271 HYPE, worth $5.78 million.
Project News
Polymarket Cumulative Notional Trading Volume Exceeds $50 Billion
According to Dune data, Polymarket's cumulative notional trading volume has exceeded $50 billion, currently reported at $50.346 billion.
Ripple Prime Integrates Hyperliquid to Expand Institutional Derivatives Trading Access
Ripple announced the integration of Hyperliquid into its Ripple Prime platform, marking the platform's first direct support for a decentralized finance (DeFi) trading venue. This integration allows Ripple Prime users to access Hyperliquid's on-chain derivatives markets while managing existing asset exposures, which can include not only centralized crypto exchanges but also traditional markets like forex and fixed income. It is reported that trades on Hyperliquid will still have Ripple Prime as the sole counterparty. The platform acts as a bridge between clients and trading venues, enabling unified risk and margin management without the need to manage positions separately on each platform.
Financing
Online trading giant IG Group has completed its acquisition of crypto trading platform Independent Reserve, with the transaction approved by the Monetary Authority of Singapore. The deal, first announced in September 2025, marks IG Group's formal increased commitment to the digital asset space.
Independent Reserve will be integrated into the IG Group system while maintaining stable service and compliant operations. IG plans to leverage Independent Reserve's crypto technology and operational experience to launch crypto trading products tailored for local markets in Singapore, Australia, and the UAE in the second half of 2026.
IG Group stated that this acquisition will help it expand compliant digital asset services in markets with gradually clarifying regulations. Independent Reserve believes that with IG's resources and regional network, it will accelerate the internationalization process of its crypto products.
Digital asset market infrastructure provider Prometheum disclosed that it has completed an additional $23 million funding round. Investors include a group of high-net-worth individuals and institutions, with specific names not yet disclosed. The new funds will be used to introduce digital asset products, including cryptocurrencies, tokenized assets, and on-chain securities, into mainstream financial markets.
Matador Signs Equity Distribution Agreement to Raise $30 Million to Increase Bitcoin Holdings
Bitcoin treasury company Matador Technologies announced it has signed an equity distribution agreement with ATB Cormark Capital Markets, planning to raise $30 million through the issuance of common shares to support its strategic Bitcoin accumulation. The goal is to hold 1,000 Bitcoin by the end of 2026. It is reported that the related common shares will be sold by the company from time to time to the public through an agent, at the company's discretion, at market prices at the time of sale, with all transactions subject to the terms and conditions of the equity distribution agreement.
Odaily News: Prediction market Opinion announced the completion of a $20 million Series A funding round with participation from Hack VC, Jump Crypto, Primitive Ventures, Decasonic, and others. Its trading scope has now expanded to include macroeconomics, pre-token launch events, culture, and cryptocurrency, covering topics from CPI data, etc. Data shows the company currently handles about one-third of global prediction market trading volume, with open interest exceeding $130 million.
Regulatory Developments
US SEC Sues Three Firms, Accusing Them of Manipulating Crypto Asset Markets
According to a U.S. Securities and Exchange Commission (SEC) announcement, the SEC has filed lawsuits against three firms—ZM Quant Investment, Gotbit Consulting (Gotbit Hedge Fund), and CLS Global FZC—accusing them of posing as "market makers" and manipulating markets for various crypto assets through practices like wash trading, misleading retail investors.
The SEC stated that these firms and nine related individuals executed matched trades through algorithms, creating false trading volume and liquidity illusions, inducing investors to buy related assets based on false signals. The case has been filed in Massachusetts federal court, with the SEC seeking permanent injunctions, disgorgement of ill-gotten gains, civil penalties, and officer and director bars.
The investigation also involved a law enforcement operation using a fake token created by the FBI to reveal related manipulation techniques. The SEC stated it will continue to strengthen regulatory enforcement against fraud and manipulation in crypto asset markets.
U.S. Commodity Futures Trading Commission (CFTC) Chairman Mike Selig announced on Wednesday the formal withdrawal of the 2024 proposed "event contract" regulatory draft and the rescission of a related guidance issued during the Biden administration. The draft originally sought to ban prediction contracts based on political event outcomes, equating them with contracts on war, terrorism, etc., deemed "contrary to the public interest."
Selig stated that the 2024 proposal represented the previous administration's "overreach into value-judgment-based regulation." The CFTC will now advance a new set of rules based on the Commodity Exchange Act (CEA) that are more consistent and rational, supporting responsible innovation in derivatives markets and aligning with Congressional legislative intent.
This policy adjustment sends a clearer regulatory signal for prediction markets. Previously, the CFTC lost a lawsuit against Kalshi, forcing it to allow political prediction contracts. With the new administration, institutions including Coinbase and Cboe have also begun actively deploying prediction market-related businesses. The withdrawal of the old rules is seen as a significant turning point in the regulatory direction for U.S. prediction markets.
Voices
Analysis: Bitcoin Falls Back to $74K, AI Stock Sell-off Weighs on Crypto Market
Influenced by weakness in tech stocks, Bitcoin fell below $74,000 during early U.S. trading hours. The Nasdaq 100 index dropped 1%. Due to market concerns about AI's disruptive impact, the iShares Expanded Tech-Software ETF (IGV) has fallen 17% cumulatively over the past week or so. Crypto mining stocks related to AI infrastructure development also declined, with Cipher Mining (CIFR), IREN, and Hut 8 (HUT) all falling over 10%. This decline stemmed from chipmaker AMD's 2026 earnings outlook falling short of analyst expectations, causing its
