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
Recommended Reading
February 12 Market Summary: Nonfarm Payrolls Double Expectations, But No One is Happy
This article analyzes the US Nonfarm Payrolls data far exceeding expectations, but the market reaction was counterintuitive. Tech stocks were hit by delayed rate cut expectations, while hardware infrastructure performed strongly. The software services industry was pressured by competition in AI. Gold and silver began to stabilize after recent sharp fluctuations, Bitcoin prices pulled back, and market sentiment was low. Future trends will be influenced by the upcoming CPI inflation data.
a16z Partner's Account: Boutique VC is Dead, Scaling Up is the Ultimate Endgame for VC
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The Economist: Falling Below $70K, This Crypto Winter is More Desperate Than Ever
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OpenAI Researcher's Resignation Accusation: ChatGPT Selling Ads, Who Protects Your Privacy?
This article discusses the ethical and potential issues of OpenAI testing an advertising model in ChatGPT, along with the author's criticism of the company's strategic shift. The article also proposes three alternative financing models for the AI industry, including cross-subsidization, independent regulation, and data trusts, to avoid the risks of user manipulation that an ad model might bring.
