crypto是时代的产物，撸毛在crypto的土壤应运而生。曾幻想撸毛会经久不衰，结果遗憾但也庆幸，撸毛没有逃过掌管万物的周期。最红利的暴力期过去的时候，终点注定是年化博弈的理财游戏，去留随心。
布师大才，好文共赏👇 https://twitter.com/Bruce1_1/status/1912802451859939415

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Crypto is a product of the times, and "leeching" naturally emerged in the crypto soil. Once imagined that leeching would be long-lasting, the result is regrettable but also fortunate, as leeching could not escape the cycle that governs all things. After the most profitable violent period passed, the endpoint is destined to be a financial game of annual yield, with coming and going at one's discretion.

Master of skills, good article to share 👇 https://twitter.com/Bruce1_1/status/1912802451859939415

Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another crash, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Bitwise CIO Jeff Park offers a new analytical framework from the perspective of options and hedging mechanisms.
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The Black Swan Event Was Actually This: The Real Reason for the Recent Bitcoin Crash

Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another sharp drop, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Jeff Park, CIO of Bitwise, offers a new analytical framework from the perspective of options and hedging mechanisms. [...]

The release of this new regulation marks a historic leap in the attitude of Chinese regulators towards virtual assets, shifting from a "complete ban" to a "combination of restriction and guidance."

Article Author & Source: Guofeng Law Firm On February 6, 2026, the "Notice on Further Preventing and Handling Risks Related to Virtual Currencies" (Yinfa [2026] No. 42, hereinafter referred to as "Document No. 42"), jointly issued by eight ministries led by the People's Bank of China, and the "Regulatory Guidelines on the Issuance of Asset-Backed Securities Tokens Overseas by Domestic Assets" (hereinafter referred to as the "Guidelines") simultaneously issued by the China Securities Regulatory Commission, have triggered significant reactions in the legal and financial circles...