Crypto Morning Report: Coinbase Reports Q4 Net Loss of $667 Million, Binance SAFU Fund Buys Another $300 Million in Bitcoin

marsbitPublished on 2026-02-13Last updated on 2026-02-13

Abstract

Crypto Exchange Coinbase reported a net loss of $667 million in Q4, with revenue declining 20% to $1.8 billion due to a cooling crypto market. Meanwhile, Binance’s SAFU fund purchased an additional 4,545 BTC, worth approximately $304.58 million. In regulatory developments, the CFTC appointed 35 members to its new Innovation Advisory Committee, including leaders from Solana, Ripple, Coinbase, and other major crypto firms. Hong Kong Monetary Authority outlined its 2026 priorities, emphasizing support for sustainable and responsible development of the digital asset industry. Aave Labs proposed a new strategy to direct 100% of Aave-branded product revenue to its DAO treasury, requesting funding of $25 million in stablecoins and 75,000 AAVE tokens in return. Other notable updates include Lighter’s partnership with Circle to share yield from $920 million in USDC deposits, and Cango’s $10.5 million equity financing plus a $65 million investment commitment to expand into AI and computing infrastructure. Market sentiment remains cautious as Bitcoin’s price dipped amid broader economic uncertainty, with upcoming CPI data likely to influence future trends.

Author: Deep Tide TechFlow

Yesterday's Market Dynamics

US Initial Jobless Claims for the Week Ending Feb 7: 227K, Expected 222K, Previous Revised from 231K to 232K

According to Jinshi Data, US Initial Jobless Claims for the week ending February 7 were 227,000, compared to an expectation of 222,000. The previous figure was revised from 231,000 to 232,000.

CFTC Chair Selig Appoints 35-Member Innovation Advisory Committee, Multiple Crypto Industry Figures Included

As reported by The Block, US Commodity Futures Trading Commission (CFTC) Chair Michael S. Selig announced the formation of an Innovation Advisory Committee (IAC), appointing 35 members responsible for providing advice on regulating breakthrough technologies like AI and blockchain. The committee boasts a strong lineup, including representatives from blockchain projects like Vivek Raman from Etherealize, Anatoly Yakovenko from Solana Labs, and Brad Garlinghouse from Ripple, as well as executives from major crypto exchanges like Coinbase, Crypto.com, and Gemini.

Additionally, founders of prediction market platforms Polymarket and Kalshi, as well as representatives from prominent venture capital firms like a16z crypto and Framework Ventures, are also on the list. Selig stated that this committee will help the CFTC formulate rules that adapt to market realities, paving the way for a "golden age of US financial markets."

US Media: Treasury Secretary Agrees to Senate Investigation of Powell in Exchange for Fed Chair Nomination Approval

According to Jinshi Data, citing a report by US financial media Semafor quoting informed sources, US Treasury Secretary Yellen, during a closed-door meeting with Senate Republicans on Wednesday, agreed with a suggestion from some senators—that the Senate Banking Committee, not the Department of Justice, should investigate Fed Chair Powell. A knowledgeable lawmaker said this move was intended to "test" whether it might persuade North Carolina Republican Senator Thom Tillis to lift his hold on Fed nominees. "They wanted to dangle this in front of Tom to see if he'd take it," the lawmaker said. "Tom was expressionless." Another source indicated this could be a viable compromise. A Republican congressman stated: "The President wants an investigation," and using the Banking Committee "to satisfy that investigative desire" could be an option. However, the first lawmaker expressed skepticism: "I'd be surprised if Tom accepts."

HKMA 2026 Focus: Supporting Sustainable and Responsible Development of the Digital Asset Industry

The Hong Kong Monetary Authority (HKMA) released its 2025 review and 2026 priorities, noting that in 2025, regarding digital assets, it provided consumer protection, conducted industry consultation on a proposed framework for handling loss claims from authorized payment scams, and will formally enact a prudential regulatory framework for crypto assets on January 1, 2026. The HKMA's 2026 priorities will support the sustainable and responsible development of the digital asset industry and promote "Fintech 2030," including: Data & Payments (Comprehensive Risk Data Strategy), Artificial Intelligence (Generative AI Sandbox++, Industry-Specific Models), and Tokenization (Regulatory Incubator for DLT).

Trump Family-Related Crypto Project WLFI to Launch Forex Platform World Swap

According to CoinDesk, Zak Folkman, co-founder of the Trump family-related crypto project World Liberty Financial (WLFI), announced at the Hong Kong Consensus conference that the project is launching a forex platform called "World Swap." The platform aims to simplify cross-border transfers and challenge the high fees of 2%-10% charged by traditional remittance services.

Lighter Reaches Agreement with Circle to Share Yield from Approximately $920 Million in USDC Deposits on Platform

According to Velo news, perpetual contract protocol Lighter has partnered with USDC issuer Circle to share the yield generated from approximately $920 million in USDC deposits on the platform.

Aave Publishes "Temp Check" Proposal, Proposing 100% of Aave Brand Product Revenue Be Sent to DAO Treasury

Aave Labs recently published a "Temp Check" proposal seeking initial community feedback on a new strategic framework. This framework plans to establish Aave V4 as the technical foundation for the protocol's future development and proposes directing 100% of revenue from all Aave-branded products (including aave.com, Aave App, etc.) directly to the DAO treasury. In exchange, Aave Labs is requesting funding support of $25 million in stablecoins and 75,000 AAVE tokens from the DAO. The proposal also includes plans to establish a foundation to protect the Aave brand trademarks.

Binance SAFU Fund Address Buys Another 4,545 BTC, Valued at $304.58 Million

According to Arkham monitoring, the Binance SAFU fund address purchased another 4,545 BTC, valued at $304.58 million.

Coinbase Q4 Net Loss of $667 Million, Revenue Down 20%

As reported by Bloomberg, cryptocurrency exchange Coinbase Global Inc. showed in its latest earnings report that Q4 revenue fell 20% year-over-year to $1.8 billion, missing market expectations, due to cooling crypto markets. The company recorded an unrealized loss due to a decline in the value of its cryptocurrency holdings and investments, resulting in a net loss of $667 million, compared to a profit of $1.3 billion in the same period last year.

Strategy Plans Shift to Preferred Stock Financing for Bitcoin Purchases

As reported by Bloomberg, Strategy CEO Phong Le stated in a Bloomberg live broadcast: "We will begin shifting from equity financing to preferred stock financing to support the bitcoin purchase plan."

Bitcoin Miner Cango Completes $10.5 Million Equity Financing, Secures Additional $65 Million Investment Commitment

According to PRNewswire, NYSE-listed bitcoin mining company Cango Inc. (NYSE: CANG) announced the completion of a previously disclosed $10.5 million equity investment from Enduring Wealth Capital Limited (EWCL) and signed an agreement with entities wholly owned by company chairman Xin Jin and director Chang-Wei Chiu, who committed to invest a total of $65 million in the company.

Cango stated it will use these funds to support its expansion into AI and computing infrastructure and further strengthen its balance sheet.

Market Dynamics

Trending Cryptos

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wrapped stUSDTWSTUSDT

Velodrome FinanceVELODROME

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ZRX（0X）ZRX

PancakeSwapCAKE

Base Under Pressure

**Title: The Pressure Mounts for Base** Base, the Ethereum Layer 2 scaling solution backed by Coinbase, is facing significant pressure and public scrutiny from its leadership following the launch of Robinhood Chain. Base co-founder Jesse Pollak recently acknowledged strategic missteps, admitting that the chain's past focus on social and creator tokens (e.g., through Farcaster, Zora) failed to deliver sustainable adoption. He has refocused on core infrastructure, handing leadership of the Base App back to Coinbase's Cobie. While Base remains a top L2 contender alongside OP Mainnet and Arbitrum, and boasts the highest TVL (nearly $12B), its weaknesses are being highlighted by the new competitor. Key criticisms include its slow progress on decentralization. Base has faced issues with its single sequencer causing block production halts, and L2BEAT is reportedly considering downgrading its decentralization rating from Stage 1 to Stage 0. This contrasts sharply with the rapid initial success of Robinhood Chain, whose DEX quickly entered the top five by volume. The leadership styles of the parent companies are also being compared: Robinhood's CEO actively engages with new projects, while a recent incident where Coinbase's Brian Armstrong briefly changed his profile picture—sparking and then crashing a related meme token—drew community ire and mockery. Pollak stated Base is working with Coinbase on tokenized stocks backed 1:1 by real equity, differentiating it from Robinhood's derivatives model. However, the article argues that Base's most urgent task is to address its long-standing technical and trust issues. With more traditional finance players likely to emulate Robinhood's path, Base must use this competitive pressure to solidify its position as long-term financial infrastructure.

Foresight News12m ago

Foresight News12m ago

White House Concession Removes Ethical Hurdle, Clarity Act Races Against Final Window Before Recess?

On July 21st, industry sources reported that the Trump administration has agreed to include an ethics provision in the "Clarity Act" (Digital Asset Market Clarity Act of 2025). This concession addresses the long-standing conflict-of-interest concerns regarding government officials and the crypto industry, potentially removing the final major obstacle to the bill's progress. Additionally, Patrick Witt, the executive director of the White House's Digital Asset Advisory Committee, confirmed he will remain in his role to help finalize the bill, alleviating previous concerns about his potential departure. The Clarity Act aims to establish a unified federal regulatory framework for the U.S. digital asset market. Its core objective is to resolve regulatory ambiguity by defining different types of digital assets (digital commodities, investment contract assets, and permitted payment stablecoins) and clarifying the respective oversight roles of the SEC and CFTC. This would end the long-running jurisdictional dispute between the two agencies and provide clearer compliance paths for the industry. With the ethics issue moving toward resolution, the most urgent challenge now is time. The U.S. Congress is set to begin its August recess in mid-August, leaving only a few working weeks to finalize the text and advance the bill through the Senate. Industry advocates, like the Blockchain Association's Kristin Smith, stress that this is a critical moment. If negotiations conclude successfully in the coming weeks, the Clarity Act could pass a key hurdle before the recess; otherwise, it may face significant delays. If enacted, the Clarity Act could mark a historic turning point in crypto regulation. By providing a clearer and more predictable legal framework, it aims to reduce uncertainty for businesses, developers, and traditional financial institutions looking to enter the digital asset space, potentially setting a global benchmark for market structure regulation.

Odaily星球日报18m ago

White House Concession Removes Ethical Hurdle, Clarity Act Races Against Final Window Before Recess?

Odaily星球日报18m ago

Midnight’s 515M NIGHT hack sends token down 32% – Will $0.015 hold?

In July 2026, the Midnight network was hacked, with 515 million NIGHT tokens drained from a cross-chain bridge contract. The attacker sold a large portion, causing the token price to crash 32% to an all-time low of $0.015. This triggered panic selling, spiking trading volume and driving market indicators into deeply oversold territory. While the Midnight Foundation stated its core network remained secure, the incident left the wrapped token on BNB unbacked. Analysts warn of continued bearish pressure, with the key question being whether the $0.015 support level will hold.

ambcrypto23m ago

Midnight’s 515M NIGHT hack sends token down 32% – Will $0.015 hold?

ambcrypto23m ago

AI Era, Industrial Revolution, and Future Civilization Interview — Zhang Dingwen: The Future Does Not Belong to Chasers

"AI Era, Industrial Revolution and Future Civilization: An Interview with Zhang Dingwen – The Future Does Not Belong to Those Who Chase" In this interview, entrepreneur Zhang Dingwen reflects on his entrepreneurial journey and philosophy, moving beyond discussions of financing or success to emphasize understanding the "era" itself. He argues that true entrepreneurs should not chase short-term trends ("winds"), but position themselves in the direction of long-term technological and societal evolution. Zhang shares key lessons from his early days, including the realization that user value does not automatically translate to commercial value. For him, the core of entrepreneurship is not building a company but constantly upgrading one's own "cognition" – the ability to interpret information, ask the right questions, and understand the underlying "causes" behind business outcomes, not just the effects. His thinking has evolved from a focus on creating good products to a strategic focus on building "entrances" – platforms that naturally connect users to digital services. He sees smart wearables, like watches, not merely as hardware but as potential future gateways combining technological, financial, social, and even fashion attributes to create sustained user relationships and ecosystems. Ultimately, Zhang's vision transcends individual products or companies. He discusses business competition in three stages: product, platform, and finally, "civilization" – where the greatest companies influence how society operates by defining new rules and ways of life. He believes the mission of a truly great enterprise is to solve problems of its time, build enduring trust, and contribute lasting value, leaving behind not just wealth but a positive impact on how the world works. The future, he concludes, belongs not to the fastest, but to those with the correct long-term direction and a commitment to continuous learning and evolution.

marsbit29m ago

AI Era, Industrial Revolution, and Future Civilization Interview — Zhang Dingwen: The Future Does Not Belong to Chasers

marsbit29m ago

Cryptocurrency & Stock Market Barometer丨Strategy Cash Reserves Increase to $3.23 Billion, Halting BTC Purchases; Vanguard and Other Asset Managers Increase Holdings in Strategy Stock (July 21)

Market Overview & Warnings: The article warns of high volatility in South Korean stocks and continued dependence on U.S. stocks on geopolitics. Chinese A-shares remain under pressure. It advises against using leverage in current equity markets. For crypto-linked stocks, most have limited growth except Robinhood, with caution advised. U.S. Stock Market: Bearish bets on U.S. stocks, particularly targeting AI-related companies, have reached record highs since 2010, signaling deep skepticism about the sustainability of the AI-driven rally. Tech and chip stocks led a market decline, with the Philadelphia Semiconductor Index potentially entering a bear market. Increased expectations for Federal Reserve interest rate hikes and geopolitical tensions contributed to the negative sentiment. Bitcoin Treasury Company Updates: * Strategy: Increased its cash reserves to $3.23 billion and paused Bitcoin purchases. Several major asset managers, including Vanguard Group and Capital Group, increased their holdings of Strategy (MSTR) stock. * Global corporate Bitcoin buying slowed significantly to just $1.33 million last week. * Other notable activity: Strive purchased 21 BTC; ORANGE JUICE raised $40 million for Bitcoin acquisitions; Bitcoin Japan Corp. raised $60 million, allocating $4.08 million for its first BTC purchase. Other Crypto Treasury Holdings: * Ethereum: BitMine increased its ETH holdings to 5.78 million, nearing its 5% of supply goal. Its total crypto assets, cash, and securities are valued at $11.5 billion. * Solana: No significant corporate treasury activity reported. * Altcoins: HypeStrat made no adjustments to its treasury; its mNAV ratio fell to a long-term low. (Note: This summary is for informational purposes only and does not constitute investment advice.)

marsbit30m ago

Cryptocurrency & Stock Market Barometer丨Strategy Cash Reserves Increase to $3.23 Billion, Halting BTC Purchases; Vanguard and Other Asset Managers Increase Holdings in Strategy Stock (July 21)

marsbit30m ago

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What is $BITCOIN

DIGITAL GOLD ($BITCOIN): A Comprehensive Analysis Introduction to DIGITAL GOLD ($BITCOIN) DIGITAL GOLD ($BITCOIN) is a blockchain-based project operating on the Solana network, which aims to combine the characteristics of traditional precious metals with the innovation of decentralized technologies. While it shares a name with Bitcoin, often referred to as “digital gold” due to its perception as a store of value, DIGITAL GOLD is a separate token designed to create a unique ecosystem within the Web3 landscape. Its goal is to position itself as a viable alternative digital asset, although specifics regarding its applications and functionalities are still developing. What is DIGITAL GOLD ($BITCOIN)? DIGITAL GOLD ($BITCOIN) is a cryptocurrency token explicitly designed for use on the Solana blockchain. In contrast to Bitcoin, which provides a widely recognized value storage role, this token appears to focus on broader applications and characteristics. Notable aspects include: Blockchain Infrastructure: The token is built on the Solana blockchain, known for its capacity to handle high-speed and low-cost transactions. Supply Dynamics: DIGITAL GOLD has a maximum supply capped at 100 quadrillion tokens (100P $BITCOIN), although details regarding its circulating supply are currently undisclosed. Utility: While precise functionalities are not explicitly outlined, there are indications that the token could be utilized for various applications, potentially involving decentralized applications (dApps) or asset tokenization strategies. Who is the Creator of DIGITAL GOLD ($BITCOIN)? At present, the identity of the creators and development team behind DIGITAL GOLD ($BITCOIN) remains unknown. This situation is typical among many innovative projects within the blockchain space, particularly those aligning with decentralized finance and meme coin phenomena. While such anonymity may foster a community-driven culture, it intensifies concerns about governance and accountability. Who are the Investors of DIGITAL GOLD ($BITCOIN)? The available information indicates that DIGITAL GOLD ($BITCOIN) does not have any known institutional backers or prominent venture capital investments. The project seems to operate on a peer-to-peer model focused on community support and adoption rather than traditional funding routes. Its activity and liquidity are primarily situated on decentralized exchanges (DEXs), such as PumpSwap, rather than established centralized trading platforms, further highlighting its grassroots approach. How DIGITAL GOLD ($BITCOIN) Works The operational mechanics of DIGITAL GOLD ($BITCOIN) can be elaborated on based on its blockchain design and network attributes: Consensus Mechanism: By leveraging Solana’s unique proof-of-history (PoH) combined with a proof-of-stake (PoS) model, the project ensures efficient transaction validation contributing to the network's high performance. Tokenomics: While specific deflationary mechanisms have not been extensively detailed, the vast maximum token supply implies that it may cater to microtransactions or niche use cases that are still to be defined. Interoperability: There exists the potential for integration with Solana’s broader ecosystem, including various decentralized finance (DeFi) platforms. However, the details regarding specific integrations remain unspecified. Timeline of Key Events Here is a timeline that highlights significant milestones concerning DIGITAL GOLD ($BITCOIN): 2023: The initial deployment of the token occurs on the Solana blockchain, marked by its contract address. 2024: DIGITAL GOLD gains visibility as it becomes available for trading on decentralized exchanges like PumpSwap, allowing users to trade it against SOL. 2025: The project witnesses sporadic trading activity and potential interest in community-led engagements, although no noteworthy partnerships or technical advancements have been documented as of yet. Critical Analysis Strengths Scalability: The underlying Solana infrastructure supports high transaction volumes, which could enhance the utility of $BITCOIN in various transaction scenarios. Accessibility: The potential low trading price per token could attract retail investors, facilitating wider participation due to fractional ownership opportunities. Risks Lack of Transparency: The absence of publicly known backers, developers, or an audit process may yield skepticism regarding the project's sustainability and trustworthiness. Market Volatility: The trading activity is heavily reliant on speculative behavior, which can result in significant price volatility and uncertainty for investors. Conclusion DIGITAL GOLD ($BITCOIN) emerges as an intriguing yet ambiguous project within the rapidly evolving Solana ecosystem. While it attempts to leverage the “digital gold” narrative, its departure from Bitcoin's established role as a store of value underscores the need for a clearer differentiation of its intended utility and governance structure. Future acceptance and adoption will likely depend on addressing the current opacity and defining its operational and economic strategies more explicitly. Note: This report encompasses synthesised information available as of October 2023, and developments may have transpired beyond the research period.

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Fractal Bitcoin: Scaling Bitcoin as a Recursive System

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