24H Hot Tokens and Key News｜Some S21 Series and Whatsminer Models Have Reached Shutdown Prices; Waller's Nomination Triggers Policy Logic Reassessment, Fed May Shift to "QT + Rate Cuts" Combo (Feb 6)
1. Hot Tokens on CEXs
Top 10 CEX Trading Volume and 24-hour Price Change:
- BTC: -12.25%
- ETH: -12.36%
- SOL: -13.23%
- BNB: -11.35%
- DOGE: -13.66%
- Binance Life: -24.3%
- XRP: -21.28%
- ASTER: -12.68%
- IDEX: -5.15%
- ZAMA: +1.37%
24-hour Top Gainers (Data Source: OKX):
- HYPE: +4.74%
- AEVO: +2.75%
- PARTI: +1.48%
- ZENT: +0.65%
- RIO: +0.51%
- FOGO: +0.41%
- LAT: +0.06%
- USDC: +0.02%
- USAT: +0.02%
- PYUSD: +0.02%
24-hour Top Gainers in Tokenized Stocks (Data Source: msx.com):
- SQQQ: +7.57%
- NIO: +5.18%
- LITE: +4.61%
- GILD: +2.91%
- MKSI: +2.76%
- ARM: +2.74%
- CSCO: +1.48%
- COST: +1.27%
- BE: +1.26%
- MRK: +1.2%
2. On-chain Hot Memes (Data Source: GMGN):
- littletsj
- cigarette
- BULBS
- DOOM
- dodo
Headlines
Some S21 Series and Whatsminer Machines Have Reached Shutdown Price
According to Antpool data, based on the current Bitcoin mining difficulty and an electricity cost of $0.08 per kWh, the Antminer S21+, Antminer S21e Hyd., Antminer S21, and Whatsminer M63S (360T) have reached their shutdown price. Additionally, the Antminer S21 Imm., Antminer S21 Hyd., and Antminer S21+ Hyd. are currently approaching their shutdown price.
Under Fire from Democratic Lawmakers, Bessent Admits Mistake: "Tariffs Drive Up Inflation" Was Wrong
U.S. Treasury Secretary Scott Bessent admitted under questioning from several Democratic lawmakers on Wednesday that he and his Key Square investment company were wrong to tell partners in January 2024—before Trump won re-election—that "tariffs are inflationary."
During a sometimes-heated hearing before the House Financial Services Committee, Bessent was questioned about the document and said he wished to correct the record.
"If I was wrong before, I'm happy to correct it. My statement that tariffs could be inflationary was indeed wrong," Bessent, a Trump appointee, told lawmakers.
Warsh Nomination Triggers Policy Logic Reassessment; Fed May Shift to "QT + Rate Cuts" Combination
During Asian trading hours, U.S. Treasury yields edged lower across the board, driven by expectations related to Fed Chair nominee Kevin Warsh. Commerzbank analyst Erik Liem noted in a report that Trump's nomination of Kevin Warsh reinforces market expectations that the Fed may not rely as heavily on balance sheet tools in the future as it has in the past. Meanwhile, the U.S. Treasury's decision to keep auction sizes stable met market expectations, although officials stated they are still evaluating the possibility of increasing bill, bond, and floating-rate note auction sizes in the future.
ECB Holds Rates Steady as Expected, Keeps Three Key Rates Unchanged
The European Central Bank kept its three key interest rates unchanged, in line with market expectations, marking the fifth consecutive meeting of holding steady. The deposit facility rate, main refinancing rate, and marginal lending rate were maintained at 2%, 2.15%, and 2.40%, respectively.
Industry News
Gemini Plans to Cut Up to 25% of Workforce, Affecting U.S. and Singapore Markets
Cryptocurrency exchange Gemini stated it plans to cut up to 25% of its workforce, affecting up to 200 positions globally, including employees in the U.S. and Singapore. Gemini co-founders Tyler and Cameron Winklevoss said, "For various reasons, these overseas markets have proven difficult to win, and we find ourselves struggling with organizational and operational complexities that have driven up our cost structure and slowed us down."
As Bitcoin fell, Bitfinex margin long positions rose to approximately 77,100 BTC, hitting a nearly two-year high. This trend indicates significant leveraged bottom-fishing capital remains in the market during the decline. Furthermore, Bitfinex margin long positions have grown by about 64% over the past six months, often seen as a signal of large investors or high-risk appetite capital continuing to add positions during market stress periods. However, historical experience shows this indicator often expands during market stress phases but does not necessarily mean the price has bottomed. Analysis suggests the current accumulation of margin longs reflects both bottom-fishing behavior and may also indicate the market has not yet completed its final shakeout, with short-term volatility risks still present.
Garrett Jin Withdraws 80,000 ETH Worth $167 Million from Binance
According to Lookonchain monitoring, Bitcoin OG Garrett Jin (fbd3...) withdrew 80,000 ETH worth $167 million from Binance. Garrett Jin has now begun repurchasing ETH.
Trend Research Under Yi Lihua Would Need to Sell Another 320,000 ETH to Fully Close Leverage
According to on-chain analyst Ai Yi on X, with ETH falling below $2,000, Trend Research under Yi Lihua would need to sell another 320,000 ETH to fully close its leverage. Its current liquidation range is $1,574.6 - $1,681.49.
As Bitcoin selling intensifies, pushing it below $70,000, its core selling point of a "21 million supply cap" is being challenged. Analysts point out that derivatives such as ETFs, cash-settled futures, options, and margin lending have diluted Bitcoin's scarcity, creating "synthetic supply" and making prices more driven by derivatives trading than supply and demand. Veteran analyst Bob Kendall stated, "Once supply can be synthesized, the asset is no longer scarce, and price becomes a derivatives game. This is precisely Bitcoin's current situation. Similar structural changes have occurred in gold, silver, oil, and stock markets."
Project News
Circle Partners with Polymarket to Optimize Stablecoin Infrastructure for Prediction Markets
Stablecoin provider Circle announced a partnership with Polymarket to optimize stablecoin infrastructure for prediction markets. Circle will introduce transparent, fully-reserved stablecoin infrastructure to prediction markets, enhancing settlement reliability and reducing friction to support the next phase of on-chain financial market development.
Rainbow: Coordinating with Partners for RNBW Trading to Start Simultaneously
Crypto wallet Rainbow posted on X that it is coordinating with various partners to ensure the RNBW token begins trading at the same time (February 6th, 1:00). It is handling the CoinList distribution and will complete it before trading begins on exchanges.
Aster announced on X that it executed a 100% burn of the Phase 4 and 5 buyback tokens at 21:00 on February 5th (Beijing Time). This permanently destroyed a total of 98,400,345.46 ASTER tokens, with 53,920,060.26 from Phase 4 and 44,480,285.20 from Phase 5. The related burn transactions have been verified and made public via BscScan. The announcement also noted that the Phase 6 buyback plan is still ongoing, and users can track buyback activity via the provided on-chain address.
Cap Launches Public Sale Registration; Token Sale to Proceed via Uniswap CCA Mechanism
Cap Labs Limited announced that its token sale contract has been deployed on Uniswap, with public sale registration simultaneously launched on the Predicate platform. This public sale will begin pre-bidding at 9:00 AM EST on February 9th and will utilize the Continuous Clearing Auction (CCA) mechanism introduced by Uniswap. Cap stated it will use CCA's supply curve model for the token sale, with the sale currency adjusted to USDC and no single bid cap.
Participation requires KYC/KYB registration. During the bidding phase, users must set the maximum acceptable FDV and bid amount. All bids will be settled at a uniform price per block.
Funding
Web3 Security Firm Certora Receives Grant from Ethereum Foundation
Web3 security firm Certora announced it has received a grant from the Ethereum Foundation, with the specific amount undisclosed. The funds will be used to support verifying the correctness of automated precompiles, a key optimization technique in zero-knowledge computing developed by Powdr Labs for the Ethereum Foundation's zkEVM project. Certora plans to open-source its developed specifications, proofs, and verification framework.
Tether Makes $100 Million Strategic Equity Investment in Anchorage Digital
Tether officially announced a $100 million strategic equity investment in Anchorage Digital to advance shared goals in the next phase of digital asset adoption. Anchorage Digital Bank N.A. is the first federally chartered digital asset bank in the U.S., providing staking, custody, governance, settlement, and stablecoin issuance services to global institutions and innovators.
Singapore-based crypto company Penguin Securities announced the completion of a funding round of approximately 2.8 billion yen (around $18 million), with investors including mint, Tokyo University of Science Investment Management, and other Japanese investment institutions. The company was co-founded in February 2023 by Japanese entrepreneurs Yūya Kurafuji, Kentaro Kawabe, and Shō Setoguchi, and obtained a Capital Markets Services license from the Monetary Authority of Singapore (MAS) in 2025.
Regulatory Developments
Brazil's Congressional Science and Technology Committee passed a bill advancing a ban on algorithmic stablecoins, explicitly prohibiting the issuance and trading of stablecoins without sufficient reserves, including Ethena's USDe and Frax. The new rules require stablecoins issued in Brazil to be 100% backed by segregated reserve assets and increase transparency. Issuing unbacked stablecoins will be classified as a criminal offense, punishable by up to 8 years in prison. For foreign stablecoins (e.g., USDT, USDC), only approved institutions may offer them, and exchanges must verify if issuers comply with domestic standards or bear the risk themselves. Stablecoins currently account for about 90% of Brazil's crypto trading volume.
As the U.S. regulatory environment gradually opens up, the fintech industry is accelerating its "licensed banking transformation." Trust bank charter approvals significantly sped up last year, with the Office of the Comptroller of the Currency (OCC) granting conditional approval for national trust bank charters to five companies, including Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos. Having a bank charter is also seen as a crucial hedge against capital market volatility. Industry insiders believe the era of fintech companies merely serving as front-end channels for traditional banks is ending. An increasing number of digital finance and crypto institutions are directly seeking bank licenses to access more stable, low-cost funding sources by taking FDIC-insured deposits and connecting to the federal payment system.
Louisa Law, Deputy Director of Intermediaries at the Hong Kong Securities and Futures Commission (SFC), revealed that the regulator is considering allowing licensed Virtual Asset Trading Platforms (VATPs) to provide secondary trading of tokenized securities for retail clients. The focus is on local tokenized money market funds, with the hope of allowing them to trade on licensed VATP platforms. The regulator is currently studying related requirements, operational risks, control measures, and drafting a relevant circular. Law stated that from the SFC's perspective, tokenized securities are essentially the same as ordinary securities, just with an added technological layer, applying the principle of "same business, same risk, same rules."
U.S. Court Denies Nevada Regulator's Request to Halt Coinbase's Prediction Market Operations
A U.S. district court in Nevada has denied state regulators' request for an emergency order to halt Coinbase's prediction market operations. The Nevada Gaming Control Board previously filed a lawsuit alleging Coinbase offered unlicensed sports event contract betting products in the state and sought a temporary restraining order. The court did not grant the emergency injunction, instead deciding to hold a hearing next week, allowing Coinbase to respond.
Coinbase Chief Legal Officer Paul Grewal stated the company has concurrently filed a lawsuit in federal court in the state, arguing that the U.S. Commodity Exchange Act grants the Commodity Futures Trading Commission (CFETC) "exclusive jurisdiction" over swaps and event contracts listed on regulated exchanges. State regulators' attempt to classify these instruments as state-level gambling conflicts with the federal derivatives regulatory framework.
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