GuShiio.com The U.S. Senator of Florida proposed a Bitcoin Investment Bill; members of Kentucky and Maryland respectively proposed “Bitcoin Reserve” bills; and the SEC postponed the decision on BlackRock’s Ethereum ETF options trading until April 9.
Today’s top news tips:
Invest Hong Kong approves an investment immigration application with ETH as an asset certificate
Caixin: Hao Gang, former deputy director of the Beijing Local Financial Supervision Bureau, is suspected of money laundering
U.S. Senator from Florida proposes Bitcoin Investment Bill
Lawmakers in Kentucky and Maryland proposed “Bitcoin Reserve” bills respectively
US SEC postponed decision on BlackRock’s Ethereum ETF options trading until April 9
Video sharing platform Rumble announced it has completed a $775 million strategic investment from Tether
Solayer has opened the query for eligibility for LAYER token airdrop
Rapper Kanye West: Someone offered to give me $2 million to launch the RUG disk Meme coin, but his request has been rejected
Regulation/macro
Judge rules Coinbase must face client litigation in New York
Reuters reported that on Friday, a U.S. federal judge ruled that crypto exchange Coinbase must face lawsuits from customers who accused the exchange of illegally selling securities without registering as a broker-dealer. U.S. District Judge Paul Engelmayer in Manhattan, New York, rejected Coinbase’s argument that Coinbase did not qualify as a “legal seller” under federal securities laws because it had never transferred ownership of the 79 tokens traded by customers. The judge cited the charge: “Customers on Coinbase only traded with Coinbase itself,” which was enough to conclude that Coinbase was the seller. Engelmayer also refused to dismiss charges under California, Florida and New Jersey law, saying customers had sufficiently accused Coinbase of being a seller directly selling the tokens. Coinbase said in a statement: “Coinbase does not list, offer or sell securities on its exchanges. We look forward to defending the remaining charges in District Court.”
Invest Hong Kong approves an investment immigration application with ETH as an asset certificate
According to clementsiu, a certified public accountant in Hong Kong, Invest Hong Kong approved an investment immigration application using Ethereum as proof of HK$30 million in assets. The accountant said that in October 2024, he had successfully handled Hong Kong’s first investment immigration case with Bitcoin as proof of assets.
Caixin: Hao Gang, former deputy director of the Beijing Local Financial Supervision Bureau, is suspected of money laundering
According to Caixin, nearly two years after being investigated, Hao Gang, former deputy director of the Beijing City Local Financial Supervision and Administration Bureau, was sentenced to 11 years in prison in the first instance. According to Caixin learned from multiple channels, Hao Gang was involved in Bitcoin money laundering; in addition, he also assisted a senior executive of a leading Bitcoin mining company in lifting border charges and taking bribes totaling tens of millions of yuan. On February 6, 2025, the Second Intermediate Court of Beijing City publicly pronounced the case of Hao Gang’s bribery and money laundering in accordance with the law, and sentenced the defendant Hao Gang to eight years in prison for accepting bribes and fined RMB 500,000; He was sentenced to four years in prison for money laundering and fined RMB 800,000. He decided to execute 11 years in prison and fined RMB 1.3 million. Recovery of his illegal income from bribery and fruits, confiscation of them, and turn them over to the state treasury.
Tornado Cash developer Alexey Pertsev has been temporarily released by a Dutch court
Alexey Pertsev, one of Tornado Cash’s developers, was temporarily released on Friday after spending nine months in a Dutch prison, but he still faces a 64-month sentence (5 years and 4 months), Bitcoin.com reported. In a recent positive turn of events, the court released Alexey Pertsev and placed him under house arrest and electronic surveillance until his trial date. Pertsev posted on the X platform: “Freedom is priceless. My house arrest can only be achieved through the efforts of lawyers, who paid for it with your donations. My struggle is not over yet. For final victory and confidence, I still need everyone’s help.” It was reported yesterday that Tornado Cash developer Alexey Pertsev was granted conditional release to appeal.
U.S. Senator from Florida proposes Bitcoin Investment Bill
According to The Block, Republican Senator Joe Gruters of Florida submitted a bill on Friday that would allow the state to invest in bitcoin and other cryptocurrencies. Based on the filing, the senator recommended that Florida’s chief financial officer could use public funds to “invest bitcoin and other digital assets for specific purposes.” Gruters ‘bill outlines that Florida’s chief financial officer “cannot invest more than 10% of the total funds in any account.” Some of the sources of public funds mentioned in the bill that could be used to invest in Bitcoin include general income funds, budget stabilization funds, trust funds, and “all institutional funds of each state agency and the judiciary.” The bill also proposes to “authorize state executive board trustees to invest and reinvest available funds from systems trust funds in Bitcoin… and stipulate that public funds ‘investment in Bitcoin is not subject to certain security requirements.” In October last year, Florida’s chief financial officer Jimmy Patronis said that the state holds approximately $800 million in “crypto-related” investments. He also said that if Trump becomes president, the amount of money the state government invests in crypto assets may increase.
Lawmakers in Kentucky and Maryland proposed “Bitcoin Reserve” bills respectively
CoinDesk reports that as Utah became the first state to pass legislation allowing public funds to be invested in crypto assets, lawmakers from two more states joined the ranks this week: Kentucky and Maryland. Although these states ‘initiatives are widely related to the Republican-led so-called “Bitcoin Strategic Reserve” program at the federal level, states have proposed their own measures, with varying ways to invest state funds in digital assets. This week, Democratic Representative Caylin Young of Maryland introduced a new bill to promote the establishment of a strategic reserve of Bitcoin, similar to the one envisioned by U.S. Senator Cynthia Lummis. In Maryland, the reserve will be funded through enforcement revenue from gambling violations. Kentucky legislation was also introduced this week, and currently has two bills that would allow state pension funds to invest in digital asset ETFs. The bills will also create obstacles to the use of Central Bank digital currencies (CBDC). Fifteen other states are weighing legislation during the current session, and more are expected to follow suit, with two more states-Michigan and Wisconsin-already investing some of their pension funds in crypto ETFs. So far, 22 states have enacted bills, are seriously discussing proposals, or have begun investing in cryptocurrencies.
US SEC postponed decision on BlackRock’s Ethereum ETF options trading until April 9
According to The Block, the U.S. Securities and Exchange Commission (SEC) on Friday postponed its decision on whether to approve BlackRock to list and trade options on its spot Ethereum ETF. Based on the filing, the SEC said it will decide on April 9, 2025 whether to approve or refuse to allow BlackRock’s iShares Ethereum trust to conduct options trading. “The committee believes it is necessary to designate a longer period of time to issue orders approving or rejecting proposed rule changes to allow sufficient time to consider the proposed rule changes and the issues they raise,” the SEC said. Also on Friday, the SEC sought public comment on a proposal submitted by the Cboe BZX Exchange on behalf of Fidelity to list and trade options on its spot Ethereum ETF. These comments must be submitted within 21 days of publication in the Federal Register.
U.S. regulators are conducting a tokenization pilot, using stablecoins as collateral
According to CoinDesk, Caroline Pham, acting head of the U.S. Commodity Futures Trading Commission, is promoting a pilot tokenization program backed by stablecoins, and an upcoming summit will invite executives from Coinbase, Ripple, Circle, Crypto.com and other digital asset companies. The specific date and further details of the Digital Assets CEO Forum have not yet been determined. In November last year, Fan proposed the idea for a tokenization regulatory sandbox through his advisory committee, the Global Markets Advisory Council, but the agency’s previous leadership did not adopt it. Acting Chairman Pham said in a statement on Friday: “I am pleased to announce this ground-breaking initiative targeting the U.S. digital asset market. I look forward to working with market participants to deliver on the Trump administration’s commitment to ensuring that the United States leads the world in economic opportunity.” According to the agency, the plan, based on what Fan calls the concept of “responsible innovation”, will promote the use of non-cash collateral through distributed ledger technology. In its November recommendation, Pham’s advisory committee expected to allow market participants to experiment with non-traditional collateral. The recommendation states: “By improving the operating infrastructure of assets that already qualify for regulatory margin, blockchain or other distributed ledger technology (DLT) can help reduce or eliminate some challenges without changing collateral eligibility rules.” Market participants can also use their existing policies, procedures, practices and processes to identify, assess and manage the risks of using DLT, just as they do with other forms of market infrastructure and technologies.”
AI/Metaverse
Meta will conduct company-wide layoffs starting next week
According to Jin Shi, an internal memo shows that Facebook owner Meta Platforms(META.O) plans to make expected company-wide layoffs next week while accelerating the recruitment of machine learning engineers. The memo shows that layoff notices in most countries, including the United States, will be issued starting at 5 a.m. local time on Monday. Employees in Germany, France, Italy and the Netherlands are not affected by layoffs “due to local regulations,” while employees in a dozen other countries in Europe, Asia and Africa will receive notices between February 11 and February 18.
financing
Video sharing platform Rumble announced it has completed a $775 million strategic investment from Tether
According to official sources, Rumble (NASDAQ: RUM), a video sharing platform and cloud service provider, announced that it has completed a US$775 million strategic investment from Tether. Regarding transaction details, as part of the transaction, Tether purchased 103,333,333 shares of Rumble Class A common stock at a price of $7.50 per share for a total amount of $775 million. The company will use $250 million of that, after deducting transaction fees, to support growth plans. As part of the transaction completion, the company has successfully completed its previously announced offer to purchase up to 70 million Class A common shares. As of the expiration date, a total of 70,061,168 shares were validly and successfully tendered and were not withdrawn. Rumble subsequently accepted a pro-rata purchase of 70 million shares, while zero-share bids were accepted in full for a total amount of $525 million (excluding fees and expenses associated with the offer). The depositary institution will immediately pay the shares accepted for purchase and return all other shares bid but not purchased.
Founder of DCG: Has invested a total of US$105 million in more than a dozen deAI projects and looks forward to increasing investment in 2025
According to CoinDesk, DCG founder and CEO Barry Silbert is making a big bet on decentralized artificial intelligence (deAI), calling it “the next major era of cryptocurrency” with potential that may even exceed Bitcoin. In a letter to shareholders from his cryptocurrency group Digital Currency Group (DCG), Silbert expressed strong optimism about deAI: it is an effort by the crypto industry to integrate artificial intelligence innovation with blockchain technology. He believes that this technological fusion may bring greater returns to mankind than closed systems developed by OpenAI and other giants. “We are moving from digital ownership of assets to intelligent decentralized ownership and the availability of vast decentralized computing resources,” Silbert wrote in the fourth-quarter letter. It said that the company has invested US$105 million in more than a dozen deAI projects and is looking forward to increasing investment in 2025. He specifically mentioned DCG’s investment in Bittensor, a cryptographic network focused on machine learning and AI applications, and wrote that Bittensor’s TAO token has many similarities to Bitcoin. DCG plans to invest heavily in supporting the Bittensor ecosystem. Silbert pointed out that in November last year, DCG formed a company called Yuma to specialize in incubating Bittensor’s infrastructure projects. In addition, Grayscale, another DCG company, now also offers TAO-related investment products.
project dynamics
Solayer has opened the query for eligibility for LAYER token airdrop
The Solayer Foundation announced on the X platform that the query for eligibility for LAYER token airdrop is now open. Earlier yesterday’s news, Solayer announced the economics of LAYER tokens: the maximum supply of 1 billion coins, and 51.23% will be allocated to communities and ecosystems.
Rapper Kanye West: Someone offered to give me $2 million to launch the RUG disk Meme coin, but his request has been rejected
According to The Block, American rapper Kanye West said on social media that he hopes to have a conversation with Coinbase CEO Brian Armstrong on “cryptocurrency-related matters.” Previously, he revealed that he had received a $2 million offer to issue tokens, but he rejected the offer and stopped working with the proposer. According to a chat screenshot posted by Kanye, this cooperation requires Kanye to promote a RUG disk Meme coin and pay US$750,000 in advance. Kanye can announce that his account has been stolen 8 hours after posting, and pay US$1.25 million 16 hours after posting. The mastermind behind the scenes said that this cooperation can make tens of millions of dollars in profits.
Layer3 gaming network B3 will launch B3 tokens and airdrop them on February 10
Decrypt reported that Layer3 gaming network B3, which is based on Base, announced on Friday that it will launch its recently-announced B3 token on February 10, accompanied by airdrops. Snapshots of online activity will be taken ahead of the planned “S1 airdrop”, and there will be more airdrops, championships and gamification ways to earn B3 in the future. According to posts on the X platform, B3 pledgers will receive certain benefits, including receiving tokens for a dedicated game chain, early experience of new games on the Internet, and other potential rewards. The post also briefly introduced token economics: 34.2% of the token supply will be allocated to communities and ecosystems, 23.3% will be allocated to teams and consultants, 22.5% will be used to support the Player1 Foundation in the B3 ecosystem, and 20% will be reserved for investors. Tokens for investors, team members and advisers will have a one-year lock-up period, and will be unlocked monthly for the next three years. The total supply of B3 has not yet been announced.
Telegram game TapSwap will launch its TAPS token on BNB Chain instead of the TON network
Decrypt reports that Telegram-based click-to-money game TapSwap has announced that its upcoming TAPS tokens will be released on BNB Chain rather than the originally planned TON network. The game originally planned to complete the token airdrop in late January, but recently said it had postponed the token release on the advice of an unnamed “primary” decentralized exchange in an attempt to find better market conditions. However, after completing the first season of the game on February 6, the project decided to move forward with a token release on BNB Chain, which is expected to take place on February 14, based on an X post earlier this week. “Releasing TAPS tokens on BNB Chain will improve speed, security and accessibility, making TapSwap more attractive to players and investors,” the project said. Users will earn upcoming tokens based on their overall participation in the TapSwap click-to-money game. However, in the future, the game plans to transform from a click-to-money model and integrate skill-based gameplay. In early January, Telegram and TON announced an exclusive agreement requiring all mini-games or apps that integrate cryptocurrency to use TON exclusively. However, although TapSwap has previously promoted its partnership with TON, it did not mention Telegram or any migration plans in its token release announcement.
views
Alliance DAO founder: Many AI+Crypto projects are a bit far-fetched, and tokenization strategies may become an important tool for startups
Imron Khan and Qiao Wang, founders of Web3 venture capital accelerator AllianceDAO, recently said in a Podcast that many current projects combining AI and blockchain seem far-fetched, but there are also teams that integrate AI technology into blockchain applications in a more natural way. They believe that the integration of AI and blockchain will be more seamless in the future, and users will only feel the improvement in product performance, but will not realize the technology behind it. The two also analyzed recent market developments, including U.S. policy changes, the development of Bitcoin spot ETF and L1/L2 public chain competition. Regarding Bitcoin, rumors that the United States may establish a strategic reserve (SBR) have attracted market attention. If the plan is implemented, it may drive a surge in institutional demand. In terms of public chains, Solana has gradually become the first choice for entrepreneurs, with rapid ecological growth, while Base launched by Coinbase is facing pressure due to lack of liquidity. At the same time, new public chains such as Sui and Aptos have emerged, challenging traditional L2 solutions. In addition, tokenization has become a new model for entrepreneurship. For example, the founder of Vine launched Vine tokens in an attempt to restart applications, and the market value of TRUMP has also soared due to political influence. The two believe that tokenization strategies may become an important tool for start-ups, and brand tokens will also change the way fundraising and user participation are conducted.
Trump: DeepSeek is a very positive development, not a bad thing
According to reports in the financial community, U.S. President Trump expressed his views on DeepSeek and whether it poses a national security threat, saying that this is a developing technology, and if developed correctly, we will benefit from it because the artificial intelligence involved now The cost will be much lower than people initially thought, which is a good thing. Trump emphasized that he regarded it as a very positive development, not a bad thing.
important data
The U.S. Bitcoin Spot ETF had a total net inflow of US$171 million yesterday, and the ETF net asset ratio reached 5.96%
According to SoValue data, the total net inflow of Bitcoin spot ETFs yesterday (February 7, U.S. Eastern Time) was US$171 million. Yesterday, the Grayscale ETF GBTC had a single-day net outflow of US$0.00. The current historical net outflow of GBTC is US$21.906 billion. Grayscale Bitcoin Mini Trust ETF BTC has a single-day net outflow of US$0.00. Currently, the total historical net inflow of Grayscale Bitcoin Mini Trust BTC is US$1.237 billion. The bitcoin spot ETF with the largest net inflow in a single day yesterday was Ark Invest and 21Shares ETF ARKB, with a net inflow of US$59.0353 million in a single day. Currently, the total historical net inflow of ARKB reaches US$3.011 billion. This was followed by Fidelity ETF FBTC, with a single-day net inflow of US$52.4681 million. Currently, the total historical net inflow of FBTC reaches US$12.780 billion. As of press time, the total net asset value of the Bitcoin Spot ETF was US$113.095 billion, the ETF net asset ratio (market value as a proportion of Bitcoin’s total market value) reached 5.96%, and the historical cumulative net inflow has reached US$40.701 billion.
Sanitation: Single dogcoin transactions exceeding US$100,000 have dropped by two-thirds from early November last year
Sanitation issued a post on the X platform saying that the huge single transactions of DOGE exceeding US$100,000 have been significantly reduced recently. Currently, the weekly volume of such transactions is only one-third of the peak period driven by the “Trump Effect” in early November. The increase in trading volume of giant whales is often seen as a signal that giant whales may start accumulating assets again, and investors can watch whether a similar surge in trading will occur again in the future.
A giant whale sold 10,828.5 ETH units to repay his loan on Aave in order to remove leverage
According to Chain analyst Ember Monitoring, nemorino.eth sold 10,828.5 ETH units in the past three hours to repay his loan on Aave in order to unload leverage. He sold 10,828.5 ETH units into 28 million USDC units to repay the loan, with an average selling price of US$2,586. After paying off all borrowings, he now still holds 8,833.4 ETH(US$23.26 million). Whales generally unload leverage in the belief that prices will continue to fall.
