Encrypted Breakfast | February 13 1. All three major U.S. stock indexes closed lower, with the Dow Jones Industrial Average down 1.34%, the S&P 500 down 1.57%, and the Nasdaq Composite down 2.03%. 2. Spot gold plunged during the session, hitting a low of $4878.37, before closing down 3.17% at $4922.8 per ounce; spot silver fell even more sharply, briefly dipping below $75 per ounce in the final minutes of trading, before closing down 10.64% at $75.26 per ounce. 3. Trump: The US "must" reach a deal with Iran, otherwise the situation will be "very serious." Israeli Prime Minister Netanyahu stated that Trump may reach a good agreement with Iran. 4. Anthropic completes a $30 billion funding round, bringing the company's valuation to $380 billion. 5. Zhipu released the GLM-5 model, and orders were sold out instantly. Currently, it supports Pro and Max subscription plans. 6. Coinbase reports unexpected Q4 loss: trading revenue plummeted to $982.7 million, consumer trading revenue dropped more than 45% year-over-year, and the company recorded a net loss of $666.7 million (analysts expected a profit). 7. Standard Chartered Bank lowers its 2026 price target for BTC from $150,000 to $100,000, and warns that it may fall to $50,000 first. 8. Pendle: The sPENDLE buyback program started on February 9th, and the first batch of proceeds will be distributed on February 13th (based on time weighting). 9. Pump.fun Announced the launch of the GitHub Creator Fee Sharing feature, allowing users to now distribute creator fees to any GitHub account via the Pump.fun mobile app. 10. Bubblemaps revealed that Perp DEX Trove has quietly refunded KOLs who participated in the pre-sale, while other pre-sale participants suffered heavy losses. 11. Coinbase will launch spot trading for Aztec (AZTEC) and Espresso (ESP). 12. Upbit will delist FLOW spot trading on March 16, 2026 at 15:00 (Korean Standard Time). FLOW has fallen by more than 15%. 13. OKX Ventures made a strategic investment in STBL, which will develop an RWA-backed stablecoin on X Layer. 14.OKXCanton (cc) will be listed and open for trading at 18:00 today. [Bitcoin Market Analysis] The Bitcoin spot ETF saw a net outflow of $276.3 million the day before yesterday, while the Ethereum ETF saw a net outflow of $129.1 million. After three days of net inflows into ETFs, the situation has now turned into outflows. However, trading platforms have begun to buy in, with Binance buying $1 billion and Coinbase buying $35 million worth of Bitcoin. They will continue to buy in the future. The decline in US stocks last night also affected Bitcoin's price movement, but the impact was minor. Bitcoin saw a slight drop and is currently hovering around 66,000. The 4-hour chart doesn't look too optimistic; the key is whether it can hold above the pre-Chinese New Year level. If it fails to hold, further declines are expected. [Risk Warning] Digital assets are highly volatile and carry extremely high risks. Please participate with caution, never go all in, and never use leveraged loans.