[1/3] [Crypto/TradFi Merge Update] 2026-02-08 16:00 (Beijing Time) Important News 1. The White House will hold its second round of "staff-level" crypto meetings next week, focusing on "stablecoin yields." Policy heads from several major banks will attend for the first time; Bank of America, JPMorgan Chase, and Wells Fargo are reportedly invited, while Citigroup, PNC, and U.S. Bancorp are likely to participate. Representatives from banking associations/research institutions include BPI, ABA, and ICBA. Banks advocate for restricting crypto companies from paying interest to stablecoin holders, fearing that high-yield products will lead to deposit outflows and affect loan supply. Crypto companies, on the other hand, believe this will weaken competition and stifle innovation. U.S. Treasury Secretary Bessenter stated that efforts will be made to avoid "deposit volatility" caused by stablecoin yield payments. The meeting is related to the progress of the Cryptocurrency Market Structure Act (CLARITY), and Patrick Witt, executive director of the White House Crypto Council, urged all parties to reach a consensus by the end of this month. (TechFlow | Odaily | BlockBeats) 2. CFTC expands stablecoin rules: Allows "national trust banks" to issue dollar-pegged tokens under the GENIUS Act. Reports indicate that the GENIUS Act allows "national trust banks" to issue tokens pegged to the US dollar, potentially further extending the issuance of stablecoins to the regulated banking system. (Cointelegraph) 3. Bithumb has completed the handling of the "mistakenly sent Bitcoin" incident and initiated compensation: 99.7% has been recovered, and the remaining 0.3% (approximately 1,788 BTC) will be made up from its own assets. Bithumb stated that as of 22:42:52 on February 7th, BTC asset consistency had been restored to 100%. Compensation includes: 20,000 Korean Won per user who accessed the App/website during the incident; 100% compensation for the price difference plus an additional 10% consolation payment for users who sold BTC at a lower price during the incident; and 0% transaction fees for all asset classes for 7 consecutive days starting February 9th. The Financial Supervisory Service of Korea conducted an on-site inspection at 13:00 on February 7th. (TechFlow | BlockBeats | PANews | Foresight News | Bithumb Announcements | Odaily) 4. Tether is reportedly accelerating its expansion: with an investment portfolio of approximately 140 items and about 300 employees, it plans to hire another 150 people; the new CFO is said to be strengthening governance and centralizing finance and operations in London. Reports indicate that the new CFO is Simon McWilliams, and Tether is expanding its team and investment footprint, while pushing for centralized governance and organizational management. (FT | WuBlockchain) 5. Illinois, USA, proposes a state-level "Community Bitcoin Reserve Act": It proposes to establish a state-run, multi-signature cold storage reserve for BTC, and to set up an "Altgeld Bitcoin Reserve". BTC can only be traded/sold after obtaining new legislative authorization. This is a new case of exploring state-level fiscal/reserve resources. (BlockBeats | TechFlow | Odaily | Cointelegraph) 6. Vietnam plans to levy a 0.1% tax on crypto transactions and treat digital assets like stocks. Reports indicate that Vietnam plans to levy a 0.1% tax on crypto transactions and tends to treat digital assets in a tax/regulatory manner similar to stocks. (Cointelegraph) 7. U.S. Treasury Secretary Bessen: The U.S. government has no right to "rescue" Bitcoin; taxpayers' money will not be invested in crypto assets. He stated that the government's holdings of BTC are assets seized by law enforcement and emphasized that there is no room for investing/rescuing crypto assets with public funds. (BlockBeats) 8. The Governor of the South African Reserve Bank warned that the increased use of stablecoins could weaken the "uniformity/consistency" of the currency and impact financial stability. He stated that the expansion of stablecoin use could weaken the consistency of the country's monetary system, thereby impacting financial stability. (Odaily) 9. Encryption security risks escalate: Signature-based phishing resulted in $6.27 million in losses in January; wrench attack-related home invasion robberies involved $66 million in targets. Scam Sniffer reported 4,741 victims of signature-based phishing attacks in January 2026, resulting in $6.27 million in losses (a 207% increase from December 2025). The report also mentioned a $12.25 million loss due to copying incorrect addresses from transaction history. Two U.S. teenagers aged 16/17 were charged/arrested for allegedly posing as delivery drivers and violently breaking into homes, allegedly targeting $66 million worth of cryptocurrency. The report also mentioned approximately 60 physical attacks targeting cryptocurrency holders in 2025. (BlockBeats | PANews | Foresight News | BlockBeats | Foresight News | PANews) Market Analysis 1. Trend Research sold a total of 658,168.58 ETH (approximately $1.354 billion) over 8 days, with an estimated loss of $688 million in this round. Its average cost was approximately $3,104.36 and its average selling price was $2,058.05. After giving back a profit of $315 million in the previous round, the cumulative net loss is approximately $373 million. Arkham's monitoring indicates that the remaining ETH were eventually transferred to exchanges, bringing the on-chain balance close to zero.