News on February 9 indicated that the cryptocurrency market experienced fluctuations. As of the time of writing, $Bitcoin (BTC.CC)$Bitcoin fell by 0.35%, trading at $70,942.60, with an increase of over 2% in the past 24 hours; $Ethereum (ETH.CC)$Ethereum dropped by 0.85%, trading at $2,090.72.
Key Focus
Michael Saylor has once again released Bitcoin Tracker information, and this week may disclose additional purchase data.
Michael Saylor once again posted Bitcoin Tracker information on the X platform. Based on previous experience, $Strategy (MSTR.US)$ relevant data regarding potential additional purchases may be disclosed this week.
The floating loss of 6,230 BTC purchased by Binance's SAFU fund has narrowed to $6.05 million.
As Bitcoin slightly rebounded, the floating loss of the 6,230 BTC purchased by Binance's SAFU fund narrowed to $6.05 million. Between February 2 and February 6, Binance purchased $434 million worth of BTC in three tranches at an average price of $69,740.79. The progress of its $1 billion purchase plan is nearing the halfway mark.
Cathie Wood: Bitcoin has an extremely low correlation with gold and is gradually purchasing crypto-related stocks.
Cathie Wood, CEO of ARK Invest, known as "Wood Sister," stated, "Bitcoin once dropped to around $60,000, nearly halving from its October peak. By calculating the correlation of returns between Bitcoin and gold since 2019, the correlation coefficient is only 0.14, indicating almost no correlation. Gold tends to rise before Bitcoin, and this situation might occur again.
We disclose our trading activities daily, and it can be seen that we have been gradually purchasing small amounts of crypto-related stocks. We do not know how far the decline will continue, nor can we guarantee that it has ended. However, when negative sentiment becomes so extreme, if our research judgment is correct, we should enter the market in batches and gradually increase our positions."
South Korea to launch a special investigation into cryptocurrency price manipulation and plans to introduce punitive fines for IT incidents
The Financial Supervisory Service of South Korea announced its business plan for 2026 today, declaring a series of enhanced regulatory measures for the virtual asset market. The FSS will conduct special investigations into high-risk areas that disrupt market order, focusing on combating typical manipulative practices such as 'whale' style market manipulation, 'cage' tactics, 'horse racing' tactics, as well as improper trading involving the use of API orders or spreading false information via social media.
At the same time, artificial intelligence analysis tools will be developed to conduct second-level and minute-level analyses of virtual assets with abnormal surges, automatically identifying suspicious trading intervals and groups. To prevent financial IT accidents, the Financial Supervisory Service will introduce a punitive fine system and strengthen the security responsibilities of CEOs and Chief Information Security Officers. Additionally, an integrated monitoring system will be officially launched to collect and disseminate cyber threat information within the financial sector.
Tom Lee: The cryptocurrency market may be forming a bottom, as Ethereum has experienced seven V-shaped rebounds following drawdowns exceeding 60% over the past eight years.
On February 9, Ethereum Treasury Company $Bitmine Immersion Technologies (BMNR.US)$ Chairman Tom Lee stated in an interview with CNBC, "In just the past eight years, Ethereum has undergone seven drawdowns exceeding 60%. The good news is that all seven resulted in V-shaped rebounds—first a waterfall-like decline followed by a rapid recovery.
If the cryptocurrency market is indeed forming a bottom now, the current signs seem to suggest this possibility, especially considering MicroStrategy’s approximately 25% rebound. Historical experience shows that such recoveries often follow a V-shaped pattern, meaning the speed at which we fall is usually matched by a similar pace of recovery."
Coinbase CEO: Long-term outlook remains firmly bullish on the cryptocurrency industry
$Coinbase (COIN.US)$ CEO Brian Armstrong noted that while the recent cryptocurrency market has experienced significant volatility, this is not uncommon in the industry, which has gone through multiple cycles. He emphasized that the long-term outlook remains firmly bullish, believing it is rapidly reshaping and replacing traditional financial service systems. Armstrong added that regardless of market conditions, Coinbase will continue advancing its product and business development because the global financial system still requires updates.
Tether has invested its stablecoin profits into 140 ventures and plans to expand its workforce to 450 employees.
According to Cointelegraph citing the Financial Times, Tether has reinvested profits from its stablecoin operations into 140 investments spanning sectors from agriculture to sports and plans to increase its workforce to 450 employees.
The 125 Bitcoins mistakenly sent by Bithumb remain unrecovered, with over 80 users having already 'cashed out'.
Bithumb mistakenly entered 6.2 million Korean won as 6.2 million Bitcoin when distributing rewards to 249 users, resulting in Bitcoin worth 60 trillion Korean won being erroneously distributed. Although the exchange recovered 99.7% of the assets, 125 Bitcoin remain unrecovered, valued at approximately 13 billion Korean won. It has been confirmed that over 80 individuals have already cashed out the erroneously credited Bitcoin.
Approximately 3 billion Korean won has been transferred to individual bank accounts, while around 10 billion Korean won was used to purchase other cryptocurrencies. Bithumb is currently in communication with the relevant users to request the return of funds. For users affected by market fluctuations, Bithumb plans to fully compensate for the selling price difference and provide an additional 10% compensation, along with waiving trading fees for a week. South Korea's financial regulatory authorities have announced that they will inspect the internal control systems and asset verification processes of all exchanges.
Yi Lihua: Continue building for Ethereum and SharpLink, maintain confidence and persistent efforts.
According to ChainCatcher, Yi Lihua, founder of Liquid Capital (formerly LD Capital), posted a photo with the Chief Information Officer and Chief Development Officer of SharpLink, the second-largest crypto treasury company on Ethereum (DAT), stating, "Continue building for Ethereum and SharpLink together, maintaining confidence and continuous effort."
Governor of the South African Reserve Bank warns that rising stablecoin usage could impact currency uniformity.
According to Bloomberg, Lesetja Kganyago, Governor of the South African Reserve Bank, warned that as stablecoin usage increases, crypto assets may face a 'fragmentation' risk. At the 2026 Warwick Economic Summit, he stated that central banks are responsible for maintaining currency uniformity and ensuring affordable public access to money, and that the rise of stablecoins could pose a challenge to this objective.
Kganyago pointed out that stablecoins have recently been increasingly used in South Africa as low-volatility crypto instruments. The South African Reserve Bank had already warned in November 2025 about the financial risks posed by insufficient regulation. Additionally, he emphasized that amid rising global uncertainties, such as increased U.S. tariffs, central banks must rely on diversified financial models to respond to changes.
An anonymous individual transferred 2.565 Bitcoins to Satoshi Nakamoto’s genesis address last weekend.
According to Cointelegraph monitoring, last weekend, an anonymous person transferred 2.565 Bitcoins (approximately $181,000) to Satoshi Nakamoto’s genesis address.
Vitalik: Algorithmic stablecoins represent true DeFi.
Ethereum co-founder Vitalik Buterin wrote on the X platform that USDC deposit yields do not count as DeFi, but algorithmic stablecoins represent true DeFi. He clarified from a risk structure perspective: if there exists a high-quality algorithmic stablecoin collateralized by ETH, even if most of its liquidity comes from CDP holders, the key lies in transferring counterparty risk on the dollar side to market makers; even if the algorithmic stablecoin is backed by RWA, as long as it achieves over-collateralization and asset diversification—ensuring sufficient collateral remains intact if any single asset fails—it represents a lower risk for token holders.
Substantial improvements in structure. Buterin believes that the industry should move in such directions, gradually moving away from the US dollar as the unit of account and towards a more universal and diversified index-based valuation system. Current operations like 'depositing USDC into Aave for interest' do not fall under this category.
Bullish CEO: Cryptocurrency Industry to See Major Consolidation
$Bullish (BLSH.US)$ CEO Tom Farley stated that the cryptocurrency industry is about to undergo 'large-scale consolidation,' with the current market correction serving as a significant catalyst. In an interview with CNBC, he noted that many companies will realize 'they are not running a business but merely owning a product,' and future growth must be achieved through mergers and acquisitions or consolidations. Farley pointed out that industry consolidation should have occurred one or two years ago due to previously inflated valuations. As the bubble bursts, these unrealistic valuation expectations will come to an end.
Data: Crypto Payment Card Consumer Transaction Volume Hit $113 Million in January 2026
According to @obchakevich_'s data panel, the consumer transaction volume of crypto payment cards was $113 million in January 2026, marking a slight decline of approximately 5.8% compared to December 2025, ending 12 consecutive months of growth. So far this month, crypto payment cards have completed nearly $27.5 million in consumer transactions, averaging between $3.5 million to $4 million per day.
Arthur Hayes Bets That HYPE’s Growth Over the Next Six Months Will Outperform All 'Shitcoins' With Market Caps Above $1 Billion
In response to former Multicoin Capital managing partner Kyle Samani's view that 'several structural issues within the crypto industry are reflected in Hyperliquid,' BitMEX co-founder Arthur Hayes commented, 'Since you say $HYPE won't succeed, let's make a bet.'
I bet that from February 10, 2026, 00:00 UTC to July 31, 2026, 00:00 UTC, HYPE's increase will surpass any shitcoin on CoinGecko with a market cap exceeding $1 billion (valued in USD). You choose the coin you support. The loser will donate $100,000 to a charity designated by the winner.
Billionaire Grant Cardone Lists Mansion for Sale at 700 Bitcoin
According to Cointelegraph, billionaire Grant Cardone stated that he is listing his Gold Coast mansion for sale at 700 Bitcoin, while his neighbor priced a similar property at $88 million. He remarked, 'Let my neighbor earn more fiat currency. Four years from now, my choice will still be the better one.'
Strategy Bitcoin Strategy Manager: Will Never Stop Buying BTC
$Strategy (MSTR.US)$ Chaitanya Jain, Bitcoin Strategy Manager at Strategy, posted on the X platform: 'We will never stop buying Bitcoin.' He previously stated that Strategy is not a trader, does not engage in speculation, does not attempt to time the market entry, does not conduct technical analysis, and does not draw lines on charts, but instead adopts a buy-and-hold strategy for the long term.
Block, the Bitcoin payment company founded by Jack Dorsey, plans to cut its workforce by 10%.
According to a report by Cointelegraph, as Block, the Bitcoin payment company founded by Jack Dorsey, undergoes broader restructuring, it has begun notifying hundreds of employees that their positions may be eliminated during the annual performance review. The potential layoff rate could reach approximately 10%. Block initiated a restructuring plan in 2024 aimed at improving efficiency and realigning its product offerings. The company is working to integrate its peer-to-peer payment platform, Cash App, more closely with its merchant services division, Square. Block is expected to release its quarterly earnings report on February 26.
Arthur Hayes: There is no secret conspiracy to crash the cryptocurrency market, and the future will only see an upward trend.
Arthur Hayes, co-founder of BitMEX, wrote that derivatives of BTC do not create market trends; they merely amplify fluctuations in both bullish and bearish directions. There is no secret conspiracy aimed at undermining the cryptocurrency market. Fortunately, there has been no bailout, which allows us to quickly clear out over-leveraged 'tourist funds' and return to a trajectory of sustained growth.
Eugene: $60,000 May Serve as Support for Bitcoin; Survival Takes Priority in Bear Markets, Trading Requires Strict Stop-Loss Discipline
Trader Eugene reviewed last week's market conditions and noted that significant issues remain evident from the high time frame (HTF) market structure. Although $60,000 can still be considered reasonable support for Bitcoin, he emphasized lessons learned from the previous cycle: never go all-in on long positions without stop-loss protection.
Eugene pointed out that bull markets often behave more wildly than anticipated, while bear markets tend to see sharper declines than expected. He admitted uncertainty about where the bottom of the bear market lies or whether Bitcoin has already bottomed at $60,000 but stressed that 'survival is always the top priority.' He advised traders to evaluate risk on each operation individually and implement stop-loss strategies to guard against further downside.
US Prediction Market Boom Gains Momentum: Growth Driven by Regulatory Arbitrage and Marketing, Long-Term Outlook Remains Uncertain
According to BusinessInsider, analysis indicates that the boom in US prediction markets is built on an unstable foundation, largely due to regulatory arbitrage opportunities. For instance, there are currently no comprehensive regulations in various US states governing users' participation in sports event betting through prediction markets. Data shows that sports-related trading accounted for approximately 85% of Kalshi’s trading volume and around 39% of Polymarket’s in 2025.
Prediction markets position themselves as platforms offering futures contract trading regulated by the Commodity Futures Trading Commission (CFTC), thereby enabling sports event betting in states where sports gambling is prohibited, such as California and Texas.
Editor/Joe
