Author: Deep Tide TechFlow
Yesterday's Market Dynamics
US Media: Trump Administration Considers New National Security Tariffs on Six Major Industries, Covering Batteries, Pig Iron, and Iron Fittings, etc.
According to the Wall Street Journal, the Trump administration is considering imposing new "national security tariffs" on six industries. Sources familiar with the matter revealed that the scope of the tariffs under consideration may cover large batteries, pig iron and iron fittings, plastic pipes, industrial chemicals, as well as power grid and telecommunications equipment industries. These tariffs will be levied under Section 232 of the Trade Expansion Act of 1962. The new US tariffs on the six major industries will be implemented separately from the new global 15% tariff. It is currently unclear when the investigations, which are the responsibility of the Department of Commerce, will be announced, and when the tariffs will ultimately be imposed. Section 232 requires a lengthy investigation before tariffs can be imposed, but once implemented, the president can modify them unilaterally.
US Trade Representative: US Bilateral Trade Agreements Remain Valid After Supreme Court Tariff Ruling
According to Jinshi, US Trade Representative Greer said on CBS's "Face the Nation" on Sunday that those agreements reached with countries such as the EU and South Korea are still valid. He sought to distinguish these agreements from the 15% global tariff that Trump announced plans to implement on Saturday. Greer said: "We want them to understand that these deals will be successful deals. We will fully support these deals. We also expect our partners to fully support these deals." He also stated that other US trade tools, including means to investigate the trade practices of other countries, will provide the US with advantages. He spoke with EU officials this weekend and will also communicate with officials from other major US trading partners to convey a message of reassurance.
WLFI Response: Attacker Hacked WLFI Co-founder's Account to Spread FUD and Heavily Short, But the Attack Was Not Successful
World Liberty Financial officially issued an announcement on social media stating:
"This morning, a coordinated attack was launched against USD1. The attacker hacked the accounts of several WLFI co-founders, hired KOLs to spread panic, and heavily opened short positions on WLFI, attempting to profit from this artificially created chaos.
But this attack was not successful.
Thanks to USD1's robust minting and redemption mechanism and fully 1:1 asset backing, USD1's trading price has remained stable at par value. No fraudster can shake the long-term commitment of the entire WLFI team and co-founders to USD1.
Reminder to users: Please only obtain accurate information through verified official channels."
Meme Coin TRUMP Team Plans to Deploy No More Than 5% of Tokens for Ecosystem Growth Plan
According to official news, the Meme coin TRUMP team announced the next phase of development, focusing on improving market liquidity depth, expanding application scenarios, and promoting long-term value growth through more disciplined capital operations. Based on community feedback, the project will simultaneously advance three initiatives: a revenue and liquidity plan, institutional-grade market structure optimization, and strategic inventory management, to improve trading quality and strengthen the ecosystem.
In terms of liquidity, holders will soon be able to participate in the revenue plan through the Kamino vault, receiving TRUMP and stablecoin rewards. The related incentive scale exceeds $10 million at most to support on-chain liquidity and DEX capital efficiency. At the same time, new professional market makers will strengthen liquidity support in centralized and decentralized markets, improving price discovery capabilities and trading execution stability.
In addition, TRUMP will, according to the public token unlock schedule, strategically use no more than 5% of the unlocked tokens in the coming months for ecological investments, partnerships, and growth plans. This includes an ecological fund of up to $3.5 million, potential acquisitions and partnerships, as well as entertainment and gaming layouts promoted by The TRUMP Game Studio, with the first project being the Web3 game TRUMP Billionaires Club.
Bitdeer Responds to Bitcoin Sale Decision: Preparing Liquidity in Advance for Land Acquisition, Hashrate Growth Plan Unchanged
Bitdeer (BTDR), the bitcoin mining company under Wu Jihan, stated, "The company's decision to sell bitcoin should not cause market-level concerns. This move is aimed at preparing liquidity in advance for several non-binding power land acquisition opportunities currently under evaluation. The company emphasizes that the hashrate will continue to grow, and it will continue to mine for the benefit of shareholders."
Ethereum Foundation Establishes DeFi Team to Support New Protocol Development, Reiterates Belief in "DeFipunk" Philosophy
According to The Block, the Ethereum Foundation is establishing a dedicated decentralized finance (DeFi) department under its Application Relations team to support new protocol development. The Foundation appointed Charles St. Louis, former CEO of DELV and MakerDAO governance architect, as DeFi Protocol Expert, and Ivan (ivangbi), co-founder of Gearbox Protocol, as DeFi Coordinator.
The Ethereum Foundation stated: "We want to see DeFi flourish, but we have a clear view of what it should be: permissionless, censorship-resistant, privacy-first, self-custodial, and open-source." St. Louis added on platform X: "The Ethereum Foundation believes in DeFipunk: not finance that is slightly better than traditional finance, but finance that would not be possible without Ethereum."
The team will support existing DeFi projects while focusing on the development of "tomorrow's DeFi," including innovative directions such as user-controlled artificial intelligence and high-throughput on-chain futures markets.
Backpack Plans to Offer Company Equity to Token Stakers, Company Has Already Reserved 20% of Equity for This Plan
According to Decrypt, the cryptocurrency exchange Backpack plans to allow holders of its upcoming token to obtain company equity through staking. According to a statement by Backpack CEO Armani Ferrante on social media, users can convert their staked tokens into company equity at a fixed ratio after staking for at least one year. The company has already reserved 20% of its equity for this plan.
Ferrante stated that this move aims to improve the existing model, as many projects have failed to deliver on the promise of supporting tokens based purely on utility value. The exchange has not yet announced a token issuance date but has asked users to verify their personal information to determine eligibility for claiming.
Tether Announces Discontinuation of Support for Offshore RMB Stablecoin CNH₮
February 21, according to an official announcement, Tether announced on February 20, 2026, that it will gradually phase out its CNH₮ stablecoin service. Effective immediately, Tether has stopped issuing new CNH₮ tokens and will completely terminate redemption support after one year.
This decision is based on changes in market conditions, low product interest, and limited community demand relative to other assets. Holders of CNH₮ are advised to redeem their assets as soon as possible and must complete the operation before the redemption deadline.
Director of Shanghai Finance and Development Laboratory: Regulators Distinguish RWA Tokens from Virtual Currency for the First Time and Do Not Mandate Absolute Decentralization
Caixin published an article "Strict Management of Overseas RWA," in which Zeng Gang, Director and Chief Expert of the Shanghai Finance and Development Laboratory, stated that the 42nd document jointly issued by eight departments adopts a regulatory framework of "prohibition domestically, strict management overseas," distinguishing RWA tokens from virtual currency for the first time. The China Securities Regulatory Commission (CSRC) has designated "asset-backed security tokens" as the first operable type of RWA, opening a specific path for compliant overseas issuance by domestic enterprises. The regulatory authorities neither deny the potential value of RWA tokens as new financing tools nor relax risk prevention. The 42nd document emphasizes the use of "encryption technology and distributed ledger or similar technology" and does not mandate absolute decentralization. The core principle is: the entire process of overseas issuance must ensure that domestic entities do not come into contact with token transactions, funds entering the country must go through compliant cross-border investment and foreign exchange management channels, and an event reporting mechanism must be established post-issuance to ensure that major events are reported to the CSRC in a timely manner.
US Private Credit Giant Blue Owl Capital Announces Sale of Approximately $1.4 Billion in Loan Assets
According to CoinDesk, US private credit giant Blue Owl Capital announced the sale of approximately $1.4 billion in loan assets to match investor redemption demands from its retail-oriented private credit fund (Blue Owl Capital Corp II). The fund will return about 30% of its net asset value (NAV) to qualified investors, with the assets sold at a price equivalent to 99.7% of face value. Affected by this, Blue Owl stock (OWL) fell nearly 15% this week, with a cumulative decline of over 50% compared to the same period last year; stocks of other private equity firms such as Blackstone, Apollo Global, and Ares Management also fell significantly.
Experts compare this to the "canary in the coal mine" signal before the 2007 financial crisis (such as the Bear Stearns hedge fund collapse), warning that overexpansion in the private credit market (especially AI-related investments) may trigger systemic risks, credit crunches, and bank contagion. If the pressure intensifies, forcing central banks to cut interest rates and inject liquidity, it could replay the post-2020 pandemic scenario, injecting momentum into the Bitcoin and crypto markets and driving the next bull run.
SBI Holdings Launches 10 Billion Yen On-Chain Bond, Rewarding Investors with XRP
According to CoinDesk, Japanese financial giant SBI Holdings announced the issuance of an on-chain bond "SBI START Bonds" worth 10 billion yen (approximately $64.5 million). The bond targets retail investors and is issued, managed, and settled entirely on the blockchain platform "ibet for Fin." Qualified investors (holding an SBI VC Trade account and investing over 100,000 yen) can receive XRP rewards equivalent to the investment amount at the time of issuance and subsequent interest payment dates (until 2029), with every 100,000 yen corresponding to 200 yen worth of XRP. The bond has a three-year term and offers a fixed interest rate. Secondary trading will commence on the Osaka Digital Exchange on March 25, 2026.
Market Dynamics
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