Compiled by: Cora, Techub News
TinTinLand
Fear of Greed Index: 9 (Extreme Greed)
Bitcoin price: $68,950
BTC/ETH Spot ETF Fund Flows (February 10)
BTC net inflow: $83.11 M
Net inflow of ETH: $13.32 M
Hongkong
BTC/ETH Spot ETF Fund Flows (February 10)
Net BTC subscriptions: 78.15 BTC
ETH net creation/redemption: 0 ETH
Hong Kong's first batch of compliant stablecoin licenses is expected to be issued by the end of March, with HSBC and Standard Chartered Bank likely to be among the first recipients. Sources indicate that following the issuance of the first batch of licenses, the second round of approvals will proceed rapidly and is expected to be released soon.
Fosun Wealth's Web3 brand FinChain has officially launched its yield-generating real-world asset (RWA) stablecoin, FUSD, on the Avalanche network. FUSD is backed by compliant financial assets such as money market funds and government bonds, achieving native yields while maintaining full liquidity and DeFi universality.
Hong Kong Legislative Council member Lee Wai-hung stated that the government should vigorously promote the tokenization of gold assets to enhance Hong Kong's competitiveness as an international financial center. He urged the Hong Kong Monetary Authority to require banks to maintain a friendly attitude towards precious metals and digital asset operators and not to easily classify general business as high-risk for money laundering. Lee also suggested that the Hong Kong Futures Exchange implement 23-hour trading as soon as possible to better meet the needs of global investors.
Victory Securities (Hong Kong) officially shut down cryptocurrency trading for all users with mainland Chinese identities on the afternoon of February 9, 2026. Only withdrawal permissions remain; deposits and new transactions are no longer supported. This is a continuation of the platform's gradual tightening of services for mainland users, including previous measures such as prohibiting purchases and suspending new address verification, aimed at complying with Hong Kong Securities and Futures Commission regulations and relevant mainland policies. Currently, non-mainland tax resident users can still use cryptocurrency trading services normally, and affected users can continue to withdraw their assets.
Consensus Hong Kong 2026, hosted by CoinDesk, will be held from February 10 to 12 at the Hong Kong Convention and Exhibition Centre.
Regulation/Macro
South Korea's Financial Supervisory Service (FSS) has upgraded its investigation into the massive Bitcoin erroneous transfer incident at the Bithumb exchange from an on-site inspection to a formal audit, launching a full-scale investigation on the same day. The FSS stated that the incident is extremely serious and has deployed additional personnel to conduct a high-intensity audit, focusing on whether the exchange violated its "actual holding obligation," whether "ghost currency" exists, and internal control loopholes. The investigation will examine why Bithumb actually held approximately 46,000 Bitcoins but mistakenly transferred 620,000 Bitcoins, and the consistency of asset custody and accounts under its "ledger transaction" model. Financial authorities pointed out that this incident could shake overall trust in the virtual asset market and will further investigate whether the erroneous Bitcoin transfers posed a structural risk of large-scale simultaneous withdrawals, and examine Bithumb's internal approval loopholes that allowed a single person to complete such a large transfer.
U.S. Treasury Secretary Scott Bessant recently criticized Coinbase on Fox News as a "stubborn player" for opposing the CLARITY Act. Bessant repeatedly stressed the need for the bill's passage during a Senate Banking Committee hearing last week, using strong language against its opponents. The CLARITY Act aims to clarify the regulatory roles of the SEC and CFTC in the regulation of crypto assets, but Coinbase is concerned that it may restrict its business model, including stablecoin rewards.
The Kaiping City Procuratorate handled a case involving the use of virtual currency for "money laundering." The criminal gang received funds obtained from telecommunications and online fraud, then arranged for people to withdraw the stolen money from banks and exchange it for virtual currency before transferring it to upstream fraudsters. Within just two months, the gang transferred over 2 million yuan in fraudulent funds. Currently, 19 people involved in the case have been sentenced by the Kaiping City Court for the crime of concealing and covering up the proceeds of crime.
U.S. Securities and Exchange Commission (SEC) Commissioner Mark T. Uyeda stated that security tokenization has moved from the conceptual stage to practical application, and the SEC should not create unnecessary regulatory obstacles. During the Trump administration, the SEC shifted its focus to promoting innovation through guidance, public consultation, and pilot exemptions, rather than primarily relying on enforcement actions. Uyeda emphasized that, while ensuring investor protection, the compliant implementation of on-chain securities and real-world assets (RWAs) is worth exploring. Tokenization has the potential to reduce intermediaries, shorten settlement cycles, and improve transparency, but tokenized securities must still comply with the existing securities law framework.
Daren Li, a dual citizen of China and St. Kitts and Nevis, was sentenced in absentia to 20 years in prison by the U.S. District Court for the Central District of California for his involvement in a $73 million cryptocurrency "pig butchering" scam money laundering scheme. Li fled after cutting his electronic restraints in December 2025 and remains at large. He had previously pleaded guilty to conspiracy to launder money, admitting that he and his accomplices used shell companies and a network of international bank accounts to convert victims' funds into USDT, which was then transferred to cryptocurrency wallets under his control for money laundering.
Under the guidance of the People's Bank of China, Chengdu successfully launched the nation's first smart contract transaction for paying migrant workers' wages using digital RMB. This service relies on the digital RMB smart contract ecosystem platform to automate wage payments, eliminating human intervention and ensuring timely payment for migrant workers. As of the end of January 2026, 486,400 digital RMB smart contracts had been signed in areas such as prepayment management, supply chain finance, and subsidy disbursement, with a transaction value of 316 million yuan.
Project/Company Updates
21Shares today filed an amended S-1 filing with the U.S. Securities and Exchange Commission (SEC) for its ONDO ETF.
Five hours ago, a user on the BSC chain lost approximately $118,000 worth of BUSD after signing a malicious increaseAllowance transaction. Analysts point out that while most users are wary of permit signatures and approve calls, the increaseAllowance function also poses a security risk, which is easily overlooked simply because its name is less common.
Payments giant Stripe is preparing a takeover bid that would value the company at least at $140 billion. This valuation is more than $30 billion higher than its most recent estimate. According to sources familiar with the matter, the specific terms of the takeover bid are still subject to change.
High-frequency trading firm Jump Trading has reached separate agreements with prediction market platforms Kalshi and Polymarket, whereby it will provide liquidity in exchange for a small equity stake. The agreement with Kalshi involves a fixed amount of equity, while its stake in Polymarket will increase as Jump Trading's trading capabilities in its US operations grow.
Matrixport Group and SGB Bank (SGB), a licensed bank backed by Mumtalakat, announced the launch of a virtual account service. This service integrates COBO (Cash on Delivery) and POBO (Pay on Delivery) functions, supporting instant identification and real-time settlement. It primarily targets payment service providers and technology companies such as online marketplaces to meet regulatory requirements for end-user fund segregation. Currently, Fly Wing Technologies, a wholly-owned subsidiary of Matrixport, has deployed the service, allowing its cryptocurrency mining clients to monetize their cryptocurrency assets and cover operating costs.
In-depth & Foresight
World Liberty previously stated that the Abu Dhabi transaction did not grant any party the authority to intervene in government decision-making or influence policy. The company also stated that it played no role in CZ's pardon and that its business dealings with Binance were routine operations. Binance, in turn, stated that neither it nor CZ had provided any funds or assistance to World Liberty.
Bitcoin's price briefly touched $60,000 last week. Under a diminishing returns model, this is no mere noise. The market is touching the most vulnerable point in the entire four-year cycle and logarithmic growth framework. With the gains at the top of the Bitcoin cycle already significantly compressed, a historically deep correction would completely negate the allure of its classic cycles. This is not a prediction; it's a mathematical law.
On February 3, 2026, Vitalik Buterin published a lengthy article on X and the Ethereum community, with the core argument in a single sentence: the roadmap established five years ago, which regarded L2 as the primary means of scaling Ethereum, is now obsolete. This statement, if made by someone else, would be seen as pessimism; but coming from Vitalik, it's a verdict.
