Important news from last night and this morning (February 5th - February 6th)

Binance Futures will launch multiple USDT-based perpetual equity contracts.

According to the official announcement, Binance Futures will launch perpetual contracts at the following time:

• February 9, 2026, 22:30 (UTC+8): MSTRUSDT perpetual stock contract, with leverage up to 10x;
• February 9, 2026, 22:40 (UTC+8): AMZNUSDT perpetual stock contract, with leverage up to 10x;
• February 9, 2026, 22:50 (UTC+8): CRCLUSDT perpetual stock contract, with a maximum leverage of 10x;
• February 9, 2026, 23:00 (UTC+8): COINUSDT perpetual stock contract, with a maximum leverage of 10x;
• February 9, 2026, 23:10 (UTC+8): PLTRUSDT perpetual stock contract, with leverage up to 10x.

Wintermute CEO: The public blockchain debate is meaningless; the token economic model is almost defunct.

Wintermute CEO Evgeny Gaevoy pointed out the multiple predicaments facing the current crypto industry. He believes the public chain debate ("Solana vs Ethereum vs [other chain]") is meaningless because no breakthrough applications have yet emerged on any chain. Stablecoins are merely a very niche "victory," but from a macro perspective, nothing has changed; their essence remains the replacement of one centralized intermediary with another. The scalability of blockchain applications is generally questionable, especially perpetual exchanges, which struggle to achieve traditional financial-grade scale. Their fundamental bottleneck lies in the design of the risk engine rather than simply throughput.

He further criticized the distorted values ​​within the industry: Bitcoin's original vision has been obscured by price narratives, and the cyberpunk trend of "institutional entry" has overwhelmed the cypherpunk spirit. Only a very few opinion leaders, such as Vitalik, are still focusing on the essential issues. The token economic model is almost ineffective, and mechanisms such as buybacks, lock-ups, and airdrops are all in trouble, requiring a restart experiment from the underlying logic. Despite pointing out many drawbacks, Gaevoy remains cautiously optimistic about the industry's long-term development, believing that the current market has moved beyond the blind frenzy of the "Trump-driven rally," speculators will gradually exit, and true believers may usher in a healthier environment.

BlackRock deposited 3,900 BTC and 17,197 ETH into Coinbase.

According to Onchain Lens, BlackRock deposited 3,900 BTC (worth $274.95 million) and 17,197 ETH (worth $35.83 million) into Coinbase, and may deposit more.

Singapore-based crypto firm Penguin Securities completes approximately $18 million Pre-A round funding.

According to Coinpost, Singapore-based cryptocurrency financial services company Penguin Securities Holdings announced the completion of a Pre-A round of financing of approximately 2.8 billion yen (approximately US$18 million). Investors in this round include mint, Tokyo University of Science Investment Management, Third Wave Financial, and other Japanese institutions.

Founded in February 2023 by Japanese entrepreneurs, the company obtained a Capital Markets Services license from the Monetary Authority of Singapore in 2025, enabling it to offer cryptocurrency derivatives as well as traditional financial products such as stocks, bonds, and ETFs. This round of financing will be used to expand its products and services for qualified and institutional investors, strengthen its platform and organizational structure, explore new business areas, and advance strategic partnerships. Simultaneously, the company plans to establish a branch in Japan, officially entering the Japanese market, and exploring collaborations with local business partners.

Binance Alpha will list Rainbow (RNBW)

According to an official announcement, Binance Alpha will list Rainbow (RNBW) on February 6th. Eligible users can claim the airdrop using Binance Alpha Points on the Alpha event page after trading opens on Alpha. Further details will be announced separately.

Bullish reported a fourth-quarter loss of $563.6 million, and its stock price fell 5%.

Cryptocurrency exchange Bullish reported a net loss of $563.6 million for the fourth quarter of 2025, compared to a net profit of $158.5 million in the same period last year. The company reported a loss of $3.73 per share, primarily due to losses from the remeasurement of non-cash digital assets. Following the earnings release, its stock price fell 5% in pre-market trading.

The report shows that the platform's spot trading volume reached $64.3 billion in the quarter. The company launched its spot trading business in the US last September, simultaneously introducing options trading, with options trading volume reaching $9 billion in the same quarter. Bullish plans to list on the New York Stock Exchange via direct listing in August 2025; previously, it was a privately held exchange focused on institutional clients.

Aster: The burning of tokens from the fourth and fifth phases of the buyback has been completed, totaling 98.4 million ASTER tokens.

Aster announced on its X platform that it executed a 100% burn of the tokens from the fourth and fifth phases of its buyback program on February 5th at 21:00 (Beijing time). A total of 98,400,345.46 ASTER tokens were permanently burned, with 53,920,060.26 tokens burned in the fourth phase and 44,480,285.20 tokens burned in the fifth phase. The relevant burn transactions have been verified and publicized via BscScan. The announcement also stated that the sixth phase of the buyback program is still ongoing, and users can track the buyback progress through the provided on-chain address.

The number of Americans filing for initial jobless claims for the week ending January 31 was 231,000, compared to an expected 212,000.

According to Jinshi News, the number of initial jobless claims in the United States for the week ending January 31 was 231,000, compared with an expected 212,000 and a previous value of 209,000.

Polymarket and Circle have partnered to improve stablecoin infrastructure in prediction markets.

According to market sources, Polymarket has partnered with Circle to improve stablecoin infrastructure in prediction markets.

Gemini will cease operations in the UK, and customer accounts in the UK will only be able to withdraw cash from March 5th.

According to CoinDesk, Gemini has announced it will cease operations in the UK. From March 5, 2026, all UK customer accounts will be converted to a withdrawal-only mode.

Deutsche Bank: Bitcoin's recent decline reflects a loss of market confidence, not a collapse of market structure.

A Deutsche Bank report argues that Bitcoin's recent decline reflects a loss of market confidence rather than a market structure collapse. The report identifies three main factors contributing to the decline: continued institutional outflows, decoupling from traditional market anchors, and weakening regulatory momentum. Nevertheless, the report views the current phase as a market reset, testing whether Bitcoin can transcend belief-driven rallies and regain support from regulators and institutional capital.

The report shows that since peaking in October 2025, Bitcoin has fallen by over 40%, marking four consecutive months of declines, while gold has risen by over 60% and the stock market has rebounded, highlighting a significant weakening of the correlation between Bitcoin and gold and stocks. Institutional selling pressure is a direct source of stress. US spot Bitcoin ETFs have recorded net outflows since October of last year, with outflows exceeding $7 billion in November, and approximately $2 billion and $3 billion in December and January, respectively. Trading volume has subsequently shrunk, making prices more prone to sharp fluctuations. Delayed regulatory progress has also exacerbated market volatility. The bipartisan "Digital Asset Markets Clarity Act" stalled in Congress due to disputes over stablecoin provisions, causing Bitcoin's 30-day volatility to rise above 40%, approaching levels seen at the end of October last year. Furthermore, market sentiment indicators show that retail interest is cooling.

A new wallet withdrew 55,483 ETH from WhiteBIT in the past two days, worth $115 million.

According to Lookonchain monitoring, a newly created wallet (0x8eeF) withdrew 55,483 ETH (worth $115.16 million) from WhiteBIT in the past two days.

Gemini will close all its customer accounts in the UK, EU and Australia.

According to Bloomberg, cryptocurrency exchange Gemini has announced the closure of all its customer accounts in the UK, EU, and Australia. According to its announcement on February 5th, starting March 5th, accounts in these regions will enter a withdrawal-only mode, with a planned complete closure within a month. Gemini has also halted new account registrations and all incentive programs in these regions.

Gemini went public in September 2025. Affected by the decline in cryptocurrency prices, its share price has fallen by approximately 23% since the beginning of 2025. On the day the announcement was made, its share price fell a further 2.8%.

Previous reports indicated that Gemini would cease operations in the UK, and customer accounts in that country would only be able to withdraw cash starting March 5th .

Analysis: The rise in Bitcoin leveraged positions indicates that bargain hunting continues, but the price bottom may not yet have appeared.

Bitcoin margin long positions on cryptocurrency exchange Bitfinex have increased to approximately 77,100 BTC, the highest level since December 2023. This position has grown by 64% over the past six months, while the price of Bitcoin has fallen nearly 50% from its all-time high last October.

Historical data shows that Bitfinex margin long positions are often considered a contrarian indicator. These positions tend to expand during periods of market pressure and contract during periods of price increases. At past cycle lows, such as the FTX crash in November 2022, the "arbitrage trade" liquidation in August 2024, and the "tariff shock" in April 2025, margin long positions remained near their peak levels before the market bottomed out. Analysis suggests that the current continued accumulation of margin long positions may indicate that despite large holders buying during the decline, Bitcoin prices have not yet established a clear bottom. Bitcoin prices have now fallen for five consecutive months, yet the trend of increasing long positions continues.

Binance: The threshold for the Rainbow (RNBW) airdrop is 241 Binance Alpha Points.

According to the official announcement, Binance Alpha will list Rainbow (RNBW), and Alpha trading will officially begin on February 6, 2026 at 01:00 (UTC+8). Users with at least 241 Binance Alpha Points can receive an airdrop of 430 RNBW tokens on a first-come, first-served basis. If the reward pool is not fully distributed, the points threshold will automatically decrease by 5 every 5 minutes. Please note that claiming the airdrop will consume 15 Binance Alpha Points. Users must confirm their claim on the Alpha event page within 24 hours, otherwise they will be considered to have forfeited their claim.

Gemini plans to lay off up to 25% of its workforce, affecting approximately 200 positions.

According to Bloomberg, cryptocurrency exchange Gemini announced plans to lay off up to 25% of its staff after announcing a phase-out of its operations in the UK, EU, and Australia , citing cost-cutting and profitability improvements as the reason. The layoffs will affect up to 200 positions across its global workforce, including those in the US and Singapore.

Gemini co-founders Tyler and Cameron Winklevoss stated, "These overseas markets have proven difficult to win for a variety of reasons, and we found ourselves struggling to cope with the complexities of organization and operations, which increased our cost structure and slowed us down."

Bitcoin plunged 15.48% in a single day, marking its biggest single-day drop since the FTX crash.

According to OKX market data, Bitcoin experienced its largest single-day drop since the FTX crash, falling to a low of $6,156.3 and currently trading at $62,248.9 per coin, a 15.48% decrease in the last 24 hours. Ethereum also fell below $1,800, currently trading at $1,812.8 per coin, a 15.38% decrease in the last 24 hours.

Coinbase launches spot trading for Hyperliquid (HYPE) and Rainbow (RNBW).

According to Coinbase's announcement, spot trading of Hyperliquid (HYPE) and Rainbow (RNBW) has been launched.

The USDT OTC price on the Binance platform rose to 7.1 yuan, and the selling price rose to 7.03 yuan.

As the cryptocurrency market declines, the current OTC price of USDT on the Binance platform has risen to 7.1 yuan, and the selling price has risen to 7.03 yuan. The current USD/CNY exchange rate is 6.94.

Siblings (whale 7) added 17,800 ETH, worth $34.88 million, in the past 19 hours.

According to on-chain analyst Ai Yi, whale 7 Siblings added 17,757.77 ETH in the past 19 hours at an average price of $1,964.55, worth $34.88 million. This whale has cumulatively collateralized 423,048.58 ETH to borrow $254 million worth of stablecoins through Aave and Maker.

Saylor's unrealized losses exceed $10.1 billion, and Tom Lee's unrealized losses exceed $8.65 billion.

According to Onchain Lens monitoring, both Saylor and Tom Lee have suffered paper losses of billions of dollars as the market declines. Regarding Bitcoin, Saylor's losses exceed $10.16 billion due to the price falling below $61,000. Regarding Ethereum, Tom Lee's losses exceed $8.65 billion due to the price falling below $1,800.

In the past 12 hours, a total of $1.702 billion in contract liquidations occurred across the entire network, mainly involving long positions.

According to CoinAnk data, in the past 12 hours, the total liquidation amount for cryptocurrency futures contracts across the entire network reached $1.702 billion, including $1.524 billion in long positions and $178 million in short positions. The total liquidation amount for BTC was $869 million, and for ETH it was $341 million.

Aave founder Stani.eth sold 4,504 ETH within four hours, cashing out 8.36 million USDC.

According to on-chain analyst Jia Yujin's monitoring, Aave founder Stani.eth sold 4,504 ETH on-chain in the past 4 hours, exchanging them for 8.36 million USDC. The selling price was $1,855.

MSTR reported a net loss of $12.4 billion in Q4 2025, causing its stock price to plummet 17% that day.

According to Coindesk, Strategy (MSTR) reported a net loss of $12.4 billion for the fourth quarter of 2025, attributed to the plunge in Bitcoin prices from approximately $120,000 on October 1st to around $89,000 by the end of the year (currently down to $61,000). The company's Bitcoin yield for fiscal year 2025 was 22.8%. As of February 1, 2026, it held 713,502 Bitcoins, with a total value of $54.26 billion, or $76,052 per Bitcoin. The company had $2.25 billion in cash reserves at the end of the year, sufficient to cover 2.5 years of dividends on its preferred stock and interest on its debt. Strategy's stock closed down 17% that day, marking one of its worst performances in recent years. The stock recovered slightly in after-hours trading.

Yi Lihua transferred 8,000 ETH to Binance, worth approximately $14.8 million.

According to on-chain analyst Jia Yujin, Liquid Capital founder Jack Yi transferred 8,000 ETH (worth approximately $14.8 million) to Binance.

Bitwise filed its S-1 registration document with the U.S. Securities and Exchange Commission (SEC).

According to official documents, Bitwise has formally submitted its S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) to apply for the launch of the Bitwise Uniswap ETF. The product is managed by Bitwise Investment Advisers, with Coinbase Custody as the custodian. Currently, it does not participate in staking, but this may be introduced in the future through amendments to the registration document.

As the cryptocurrency market declines, the current OTC price of USDT on the Binance platform has risen to 7.1 yuan, and the selling price has risen to 7.03 yuan. The current USD/CNY exchange rate is 6.94.