GuShiio.com 1. Federal Reserve Monetary Policy Report: Plans to Stop Quantitative Tightening at Appropriate Time
The Federal Reserve released a monetary policy report, which mentioned that since June 2022, the Federal Reserve has been reducing its balance sheet, only reinvesting when exceeding the monthly limit. As of June 2024, the Federal Reserve has reduced its securities holdings by $297 billion, and since the QT period began, it has accumulated a reduction of about $2 trillion. The Federal Reserve plans to stop the reduction of the balance sheet when its reserve levels are sufficient. Primary dealers at the New York Fed generally expect the Federal Reserve to end QT in June this year, at which point the balance sheet size will be less than $6.4 trillion.
Cai Xin: Former Deputy Director of Beijing Municipal Financial Bureau Suspected of Bitcoin Money Laundering and Accepting Bribery to Assist a Head Bitcoin Mining Company Executive to Remove Border Control
According to Cai Xin reports, after nearly two years of investigation, Hao Gang, the Deputy Director of Beijing Local Financial Regulatory Administration, was sentenced to 11 years in first instance. Cai Xin learned from multiple sources that Hao Gang was involved in Bitcoin money laundering. In addition, he also assisted a head Bitcoin mining company executive to remove border control, accepting bribes amounting to tens of millions of yuan. Hao Gang was born in July 1975 and is about to turn 50 years old, from Qingdao, Shandong. Hao Gang once served as the Director of Financial Risk Management Department of Beijing Municipal Financial Bureau and since August 2019 has been a member of the Party Group and Deputy Director of Beijing Municipal Financial Bureau, responsible for risk lines, until April 2023 when he was investigated by relevant disciplinary inspection departments on suspicion of serious disciplinary violations.
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3.Kanye: Someone proposed to me $2 million to launch a RUG token meme, but I declined their offer
The well-known fashion artist Ye (Kanye West) posted on Twitter that someone had offered him $2 million to promote a meme scam, but he has decisively refused. According to a screenshot of a chat post published by Kanye, the behind-the-scenes operator planned to first charge him $750,000 and promote the token, then claim an account hack eight hours later, and receive the remaining $1.25 million 16 hours later, using this to manipulate the market and steal fan funds. The behind-the-scenes figure claimed that the cooperation could yield tens of millions of dollars in profit. In addition, Kanye also posted a screenshot of a chat post showing that he seemed to be trying to contact Coinbase CEO Brian Armstrong to discuss matters related to cryptocurrency.4. Hong Kong Investment Immigration Recognizes Bitcoin and Ethereum as Asset Certificates for the First Time
Hong Kong accountant Stephen Chow stated that on February 7, 2025, a client used Ethereum worth 30 million Hong Kong dollars as an asset certificate to apply for investment immigration with the Hong Kong Investment Promotion Authority. In October 2024, another client using Bitcoin as an asset certificate was approved, marking the first case in Hong Kong where cryptocurrency was used as an asset for an investment immigration application. The relevant clients were mostly from mainland China.
5. Pork and PNDC Founders Added to Puerto Rico’s Top Ten Wanted List
The San Juan police of Puerto Rico have added Jeremy Cahen, the founder of Pork and PNDC, to their top ten wanted list, accusing him of suspected attacks.Cahen is more well-known for his now banned user name @Pauly0x. Since the record high on September 2, 2023, pork and PNDC have both fallen by 98%.
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6.GuShiio.com Weekly Selection: Trump Launches Tariffs, Establishes Sovereign Wealth Fund, WLFI Plans to Set Up a Token Strategic Reserve and News Top10
Weekly News Top10
1. Trump Orders Tariffs, Cryptocurrency Market Hedges Downlink
On Monday, Trump signed an order imposing a 25% tariff on imports from Mexico and Canada, as well as a 10% tariff on China, which will take effect Tuesday. Cryptocurrencies have shown a trend of hedging, with significant declines, with BTC falling by 8% to 92,$798.34. Bitwise’s alpha strategy director Jeff Park stated that due to the eventual weakening of the US dollar and interest rates, a sustained tariff war will be ‘amazing’ for Bitcoin in the long run. On Monday, Bybit’s chief executive Ben Zhou posted: ‘The real total settlement amount in today’s cryptocurrency market is far beyond $2 billion. According to my estimate, it should be at least between $8 billion and $10 billion. Just Bybit’s 24-hour settlement reached $2.1 billion. Bybit’s 24-hour settlement on CoinGlass was about $333 million, but this is not all of the settlement amount. We have an API limit on how much information we push per second. Observations from me,Other exchanges have also adopted the same approach to restrict settlement data. On Tuesday, Trump announced the postponement of Mexico and Canada’s tariff policies. Affected by the delay in the tariffs, Bitcoin rebounded to a maximum of $102,500; ETH rebounded to a maximum of $29,200.
The State Council of China’s Customs and Taxation Commission issued a notice: With the approval of the State Council, tariffs will be imposed on certain imported goods originating from the United States starting from February 10, 2025. Tariffs of 15% will be imposed on coal and liquefied natural gas, and 10% on crude oil, agricultural machinery, large-capacity cars, and pickup trucks.Finance Minister Scott Bessenet has expressed some interest in cryptocurrencies, while Commerce Secretary nominee Howard Lutnick is a staunch supporter of the crypto industry. Bessenet stated at the White House alongside Trump that it is expected that the sovereign wealth fund will be established within the next 12 months. Although Bitcoin was not mentioned at the time of signing, the fund could become a tool for the government to purchase and hold cryptocurrencies.
3. Trump Family Project WLFI plans to establish a token strategy reserve link
Chase Herro, co-founder of the Trump Family Project World Liberty Financial, said that the platform plans to use the purchased tokens to establish a “strategic reserve.” Herro is Donald Trump Jr., the eldest son of Trump.Introducing, and attending the roundtable discussion at the inaugural Ondo Finance conference in New York with World Liberty Financial’s other co-inventors Zak Folkman and Zach Witkoff. Zach Witkoff is the son of Trump’s close ally Steve Witkoff, who once helped establish contact between the Trump family and the founding team of World Liberty Financial, and he has now been nominated by Trump as a Middle East envoy.Earlier in January, Utah State Representative Jordan Teuscher introduced a bill to establish a strategic reserve for Bitcoin, aiming to authorize the state’s finance secretary to invest in digital assets.
Additionally, Iowa State Representative Taylor Collins proposed a bill that would invest public funds in Bitcoin and digital assets.
5. The U.S. Congress formed a joint working group to advance cryptocurrency legislation link
David Sacks stated at a press conference with leaders of relevant congressional committees that the U.S. House and Senate are forming a joint working group to push forward cryptocurrency legislation. Tim Scott, chairman of the Senate Banking Committee, said that the committee will first address stablecoin issues. In addition, the House and Senate will also push forward legislation related to market structure.House Speaker French Hill stated that a bill similar to the “21st Century Financial Innovation and Technology Act” (FIT21) will also be pushed forward in the House of Representatives along with the cryptocurrency legislation. The U.S. Securities and Exchange Commission (SEC) is reducing a specialized department responsible for cryptocurrency enforcement, which was composed of over 50 lawyers and staff members. This is the first concrete action taken by the Trump administration in terms of cryptocurrency and digital asset regulation. Some of the department’s lawyers have been transferred to other departments, and the transfer of some key lawyers is seen as an unfair demotion. The Bank of England has cut interest rates by 25 basis points. On February 6th, the Bank of England cut interest rates by 25 basis points, lowering the benchmark rate from 4.75% to 4.5%.Meeting market expectations, this is the third rate cut in the current interest rate cycle. Traders are increasing their bets on the Bank of England easing its policies, anticipating another three rate cuts by 2025.
8. The German Alternative for Germany (AfD), the second-ranked far-right party in opinion polls, has called for a “widespread deregulation” of Bitcoin, wallets, and transactions, and has called for Germany to break away from the eurozone, while also demanding gold as the backing for the new German mark. Additionally, the AfD opposes the introduction of digital euros, advocating that cash should be treated as legal tender and enjoy basic civil rights.
9.Wu Jiezhuang, member of the National Committee of the Chinese People’s Political Consultative Conference and a member of the Hong Kong Legislative Council, stated that Hong Kong needs to accelerate research into the feasibility of using Bitcoin as a strategic reserve; open up the authority of stabilizing cryptocurrency companies currently approved within sandbox, and allow them to issue and implement applications as soon as possible; seek national support, use Hong Kong’s unique position and some mainland cities in the Greater Bay Area as pilot projects for stabilizing cryptocurrency applications, and use stable cryptocurrencies to solve pain points in international trade; immediately relax the types of transactions on licensed virtual asset trading platforms; strategically open an office for digital assets, dedicated to promoting the development of artificial intelligence and virtual assets.
10. Tornado Cash developers are temporarily released, Vitalik referrer support link
Tornado Cash developer Alexey Pertsev posted on X thatThe Dutch court has approved a temporary suspension of its pre-trial detention and has requested that it undergo electronic monitoring, with the decision taking effect at 10:00 on February 7th. Pertsev stated that although this is not true freedom, it is better than prison conditions, and he will use this opportunity to prepare for an appeal and continue to fight for justice, thanking all supporters for their help. Subsequently, Vitalik Buterin, co-founder of Ethereum, shared the news and expressed support.
Key Financing Event
MicroStrategy has issued new preferred shares at a discount of 20%, raising $5.6.3 billion US dollars in link
The blockchain interoperability protocol Analog has completed a new round of financing with an estimated valuation of 300 million US dollars.
The Bitcoin sequencer project Taproot Wizards has announced the completion of a funding round of 30 million US dollars.
Irreducible has completed a round of financing of 24 million US dollars.
GOAT Gaming, an AI gaming network on Telegram, has announced the completion of a strategic financing round of 4 million US dollars.
The decentralized gaming infrastructure platform Beamable has completed a round of financing of 13.5 million US dollars.
The AI agent platform Olas has announced the completion of a financing round of 13.8 million US dollars.Led by 1Kx, the Crypto Collaborative Terminal project has announced the completion of a Pre-Seed round financing of $1.8 million. The cryptocurrency infrastructure startup Reservoir has also announced the completion of an A round financing of $14 million. The cryptocurrency interest rate market protocol Rho Labs has also completed a seed round financing of $4 million. For more industry financing events, please refer to crypto-fundraising.info.
