24H Hot Cryptocurrencies and Key News | US Treasury Secretary Besant: Crypto Market Structure Bill Needs to Pass This Spring; EU Plans Comprehensive Ban on Cryptocurrency Transactions with Russia (February 11)
- Core View: The current crypto market exhibits a coexistence of weakness in mainstream assets and activity in specific sectors. Simultaneously, the industry continues to evolve in terms of regulation, technological application, and institutional dynamics, making market sentiment and structural changes noteworthy.
- Key Elements:
- Divergent Market Performance: Mainstream cryptocurrencies (BTC, ETH) generally declined, while some altcoins (e.g., ZRO, SONIC) and fan tokens (ACM, JUV) bucked the trend and rose, indicating capital rotation.
- Intense Regulatory Dynamics: The US Treasury Secretary urged the passage of a crypto bill this spring; an SEC Commissioner emphasized that existing securities laws should adapt to the on-chain environment; the EU plans a comprehensive ban on cryptocurrency transactions with Russia.
- Significant Institutional Activity: Harvard University's holdings of Bitcoin ETF assets now exceed its holdings of Google stock; Bitdeer recently sold 468.8 BTC.
- Product and Compliance Progress: Polymarket filed a lawsuit due to state regulatory issues; Victory Securities in Hong Kong suspended trading functions for mainland users; Fosun Wealth launched the RWA stablecoin FUSD on Avalanche.
- Key Figures' Perspectives: CryptoQuant CEO pointed out that massive fund inflows have not boosted market capitalization, indicating DAT strategy failure; "Rich Dad Poor Dad" author Robert Kiyosaki strongly favors Bitcoin's scarcity.
- Active Investment and Financing: LayerZero received strategic investment from Tether; AI financial compliance company Bretton AI completed a $75 million Series B funding round; several projects combining AI and payments secured funding.
1. Popular Tokens on CEXs
Top 10 CEX Trading Volume and 24-hour Price Changes:
- BTC: -1.80%
- ETH: -3.86%
- BNB: -2.56%
- SOL: -3.05%
- ACM: +6.47%
- CITY: +6.08%
- JUV: +6.23%
- LAZIO: +4.79%
- BAR: +4.95%
- PIVX: -2.12%
24-hour Top Gainers List (Data Source: OKX):
- ZRO: +29.03%
- SONIC: +13.09%
- ALLO: +12.57%
- OMI: +7.97%
- G: +5.60%
- FLOW: +4.93%
- NAVX: +4.29%
- OL: +4.20%
- WCT: +4.00%
- T: +3.83%
24-hour Tokenized Stock Gainers List (Data Source: msx.com):
- NET: +19.7%
- FIG: +10.08%
- ETHD: +9.53%
- CONI: +9.05%
- MSTZ: +7.93%
- TGL: +7.17%
- CRDO: +8.64%
- ZSL: +6.36%
- MDB: +6.07%
2. Trending On-chain Memes (Data Source: GMGN):
- WhiteWhale
- WAR
- USELESS
- PENGUIN
- Buttcoin
Headlines
US Treasury Secretary Besant: Crypto Market Structure Bill Needs to Pass This Spring
US Treasury Secretary Besant stated in an interview with Fox News that the crypto market structure bill needs to pass this spring, adding, "We need to complete the crypto market structure bill," and also expressed optimism about the bill's passage.
SEC Commissioner Mark T. Uyeda shared his views on securities tokenization, stating that SEC rules should not create "unnecessary barriers" in technological evolution. In a speech at the Asset Management Derivatives Forum, Uyeda noted that tokenization has moved from theoretical exploration to early practical stages, with market participants testing how traditional securities can be issued, held, and transferred on-chain. He emphasized that tokenized securities still fall under securities regulations, and technological advancements have not changed core legal obligations such as information disclosure, asset custody, and investor protection.
Uyeda stated that the SEC's role is not to create a parallel set of rules for crypto-native assets but to adapt existing securities laws to the on-chain environment without causing unnecessary friction. He reiterated the SEC's adherence to the "technology-neutral" principle, focusing on regulatory outcomes rather than specific processes. Uyeda specifically mentioned that the SEC recently received an exemption application based on the Investment Company Act, indicating that tokenization "is no longer just theoretical speculation but is becoming a reality."
EU Proposes Comprehensive Ban on Cryptocurrency Transactions with Russia
The European Union has proposed a comprehensive ban on all cryptocurrency transactions with Russia to prevent sanctions evasion.
SBF Files for Retrial, Attempting to Overturn FTX Fraud Conviction
Convicted former FTX CEO Sam Bankman-Fried (SBF) is seeking a retrial. According to reports, his mother recently filed an application with a New York federal court, claiming new evidence has emerged in the case, and the fraud charges should be retried.
Currently, SBF is proceeding with the application pro se. According to legal procedures, he must prove the existence of significant new evidence that could affect the original verdict to have a chance at a retrial.
SBF was previously sentenced to 25 years in prison for the FTX collapse case and continues to challenge the verdict through appeals and other means. His past defense emphasized that FTX was not completely insolvent at the time of its collapse, but appellate court judges pointed out that the core of the case lies in whether customer funds were misappropriated and investors were misled, not the company's solvency.
Additionally, US President Trump recently stated he would not consider granting SBF a pardon.
Polymarket Partners with Kaito AI to Expand "Attention Market"
Polymarket announced a partnership with Kaito AI to expand the "attention market," allowing users to predict the popularity and public opinion of trends, brands, and individuals. Polymarket's trading volume exceeded $10 billion in January, and the collaboration with Kaito AI will support its expansion into the "attention market."
Viewpoint: $308 Billion Inflow in 2025 Fails to Boost Market Cap, DAT Strategy Falters
CryptoQuant CEO Ki Young Ju stated that despite a $308 billion inflow in 2025, it failed to lift the market capitalization, causing the DAT strategy to falter, and BTC is facing excessive selling pressure.
Analyst: Rise in Japanese Bond Yields Primarily Reflects "Normalization"
Joost van Leenders, Senior Investment Strategist at Dutch wealth management firm Van Lanschot Kempen, stated in a report that the recent rise in Japanese government bond yields is primarily a normalization after years of deflation and low or even negative interest rates. "The new government's largest fiscal plan could put further upward pressure on yields," Leenders noted. The expansionary fiscal policy under Japanese Prime Minister Takaichi Sanae has raised market concerns about debt sustainability, leading to rising Japanese bond yields and a weaker yen. Previously, Takaichi Sanae secured an overwhelming victory in the weekend's House of Representatives election and pledged to implement responsible fiscal policies.
Industry News
DCo investor Joel John posted on X that the share of perpetual contracts in DeFi protocol revenue has grown approximately fourfold since the low point in late 2023. This revenue is now close to half of Tether and Circle's daily revenue and matches exchange spot trading revenue.
US Solana Spot ETFs See Total Net Outflow of $15,000 in a Single Day
According to SoSoValue data, Solana spot ETFs saw a total net outflow of $15,000 yesterday (US Eastern Time, February 9).
Yesterday (US Eastern Time, February 9), Bitwise SOL ETF BSOL saw a single-day net inflow of $1.281 million, with a historical total net inflow of $671 million to date.
Grayscale SOL ETF GSOL saw a single-day net outflow of $1.296 million, with a historical total net inflow of $108 million to date.
As of press time, the total net asset value of Solana spot ETFs is $733 million, with a Solana net asset ratio of 1.47%, and the historical cumulative net inflow has reached $862 million.
Bitdeer Sells 468.8 BTC, Currently Holds 1,039 BTC
Singapore-listed Bitcoin mining company Bitdeer Technologies has sold 468.8 BTC, with a total current holding of 1,039 BTC. It ranks 47th on the list.
Harvard University's Bitcoin ETF Holdings Exceed Value of Its Google Stock Holdings
The scale of Harvard University's Bitcoin ETF holdings has surpassed the value of its Google stock holdings.
CertiK's "2026 Skynet Prediction Market Report" shows that prediction market trading volume grew to $63.5 billion in 2025, a 4x increase, with Kalshi, Polymarket, and Opinion becoming dominant platforms. However, the scale growth has also brought new risks, including oracle vulnerabilities, admin key abuse, and Web2.5 architecture issues.
The report points out that prediction markets have become legal financial products in the US through CFTC rulings but are banned in several EU countries as unauthorized gambling. Additionally, regulatory differences across US states may further complicate compliance. In December 2025, a security incident involving Polymarket's third-party verification provider exposed centralized failure points in hybrid Web2/Web3 architectures. The research also estimates that during peak airdrop periods, artificial trading volume on some platforms reached 60%, severely distorting liquidity metrics.
CertiK predicts that 2026 will see technological privacy enhancements and accelerated institutional adoption for prediction markets, but platforms will need to simultaneously address liquidity maintenance, security infrastructure development, and revenue model sustainability to achieve long-term growth.
Project News
Polymarket CLO: Has Filed Lawsuit Against Massachusetts in Federal Court
Polymarket CLO Neal Kumar posted on X that a lawsuit has been filed against Massachusetts in federal court. Congress granted the CFTC, not individual states, exclusive jurisdiction over event contracts. These are national markets, and key issues must be resolved in federal court. Attempts by states like Massachusetts and Nevada to shut down Polymarket US and other prediction markets through state courts cannot change federal law and will miss opportunities to pioneer future markets. While these important issues are being litigated in federal court, Neal Kumar stated they continue to welcome dialogue with other states and fight for user rights.
Previous news: A Massachusetts judge ruled in January to ban Kalshi from offering sports betting in the state.
Hong Kong's Victory Securities Has Suspended Cryptocurrency Trading for Mainland China ID Users
Starting the afternoon of February 9, 2026, Hong Kong's Victory Securities officially closed virtual currency trading functions for all users with Mainland China identification, retaining only withdrawal permissions and no longer supporting deposits or new trades. This is a continuation of the platform's gradual tightening of services for mainland users, including previous bans on purchases and suspensions of new address verifications, aimed at complying with Hong Kong SFC regulatory requirements and mainland policies. Currently, non-mainland tax resident users can still use cryptocurrency trading services normally, and affected users can continue to withdraw assets.
Fosun Wealth's FinChain Launches RWA-Backed Stablecoin FUSD on Avalanche
FinChain, the blockchain finance platform under Fosun Wealth Holdings, has launched the RWA asset-backed stablecoin FUSD on the Avalanche platform. FUSD is backed by compliant financial assets (including money market funds and government bonds), aiming to provide native yield while maintaining full liquidity and wide applicability in the DeFi space.
Financing
Xross Road Completes $1.5 Million Pre-seed Round for AI Comic Platform Development
Xross Road posted on X that it has completed a $1.5 million Pre-seed funding round. This round will be used to develop next-generation IP creation and distribution through Xross Road and its AI-driven comic platform HANASEE. The round saw participation from Arbitrum Gaming Ventures, Decima Fund, Taisu Ventures, and Baboon VC.
On February 10, artificial intelligence company Sahara AI formed an in-depth partnership with Danal Fintech, one of South Korea's largest payment technology providers, to jointly develop a next-generation AI payment system based on stablecoins. The two parties will combine Danal's large-scale payment and clearing experience with Sahara AI's full-stack Agent platform to upgrade core scenarios such as cross-border payments and automated reconciliation with AI, enhancing system reliability and operational efficiency in real financial scenarios.
Simultaneously, Danal's subsidiary PayProtocol plans to integrate Sahara AI's investment assistant Sorin into the Paycoin App, providing real-time market dynamics and asset analysis to millions of users. This collaboration marks Sahara AI's official entry into large-scale traditional finance and payment scenarios.
LayerZero Labs Receives Strategic Investment from Tether
Stablecoin issuer Tether announced a strategic investment in LayerZero Labs, with the specific amount undisclosed. LayerZero Labs is the creator of one of the market's bridging frameworks, providing underlying technology that enables digital assets to be transferred securely and efficiently between blockchains.
Decentralized Exchange edgeX Receives Investment from Circle Ventures
Circle Ventures announced an investment in the decentralized exchange edgeX, with specific amount and valuation undisclosed. Circle also plans to introduce its stablecoin USDC and Cross-Chain Transfer Protocol (CCTP) to edgeX's blockchain, EDGE Chain. It is reported that the two companies began negotiations in late 2025 and finalized the investment deal last month, with Circle Ventures being the sole investor in this round.
Bretton AI Completes $75 Million Series B Funding Round Led by Sapphire Ventures
AI financial compliance startup Bretton AI announced the completion of a $75 million Series B funding round led by Sapphire Ventures, with participation from Greylock, Thomson Reuters Ventures, and Citi Ventures. The company was founded by Will Lawrence, a former member of stablecoin infrastructure company Paxos's compliance team. Its current clients are primarily fintech service companies, including fintech startups like Mercury, Ramp, Robinhood, and Coinbase, as well as some community regional banks, helping them achieve anti-money laundering (AML) and know-your-customer (KYC) compliance operations.
Regulatory Developments
The Bank Policy Institute, Clearing House Association, and Financial Services Forum have formally submitted a joint comment letter opposing granting crypto and fintech companies direct access to the Federal Reserve's payment system.
The banking groups demand a 12-month observation period before such companies
