1. The US core PPI rose 0.8% month-on-month in January, significantly higher than expected.
US wholesale inflation rose more than expected in January. Core PPI (excluding food and energy) rose 0.8% month-on-month, higher than December's 0.6% and market expectations of 0.3%; overall PPI rose 0.5% month-on-month, also higher than the expected 0.3%. The data shows that inflationary pressures remain strong.
2. Wikipedia co-author: Bitcoin may fall below $10,000 by 2050.
Wikipedia co-founder Jimmy Wales tweeted that Bitcoin will not go to zero; its design is robust enough to withstand unforeseen cryptographic collapses or accidental 51% attacks (even then, it could likely continue through a fork). However, Bitcoin's functions as a currency and store of value have completely failed, and it will not become the dominant currency of the future. Its price is projected to be below $10,000 in present value by 2050, possibly far below that, merely at a hobbyist level. It is essentially a speculative asset, not a successful currency; AI robots have not yet widely adopted cryptocurrencies.
3. South Korea's National Tax Service mistakenly disclosed seed phrase, leading to the suspected transfer of approximately $4.8 million in cryptocurrency assets.
When the South Korean National Tax Service announced the seizure of crypto assets, it mistakenly published the complete seed phrase of a hardware wallet in a news photo. Blockchain data shows that approximately 4 million PRTG tokens, valued at about $4.8 million, were subsequently transferred from the wallet. Experts point out that leaking the seed phrase is tantamount to surrendering control of the wallet, constituting a serious security management error.
4. Morgan Stanley plans to launch Bitcoin custody, trading, yield, and lending services.
Morgan Stanley's Head of Digital Asset Strategy, Amy Oldenburg, stated at the Bitcoin for Corporations conference in Las Vegas that the company plans to develop its own Bitcoin custody and trading services, and explore yield and lending features, saying, "We will definitely do it; it's a natural part of the roadmap." Oldenburg emphasized the need for in-house technology to ensure "zero errors" and to maintain client trust in the Morgan Stanley brand; clients' crypto assets are "quite substantial," but some prefer self-custody. Previously, the company had registered Bitcoin, Ethereum, and Solana funds with the SEC and plans to offer BTC, ETH, and SOL trading through its E*Trade app.
5. Jack Dorsey announced that Block will lay off nearly half of its staff, shifting towards an AI-first and flatter organizational structure.
Jack Dorsey announced that Block will be laying off nearly half of its workforce, reducing its size from over 10,000 to less than 6,000. More than 4,000 employees will be leaving or entering into negotiation processes. Dorsey stated that the company's financial situation is sound and gross profit continues to grow. This move is not due to operational difficulties, but rather based on his belief that AI and intelligent tools are changing the way organizations operate, requiring the company to shift to a smaller, flatter, and intelligence-centric structure. Therefore, he chose a one-time adjustment rather than phased layoffs.
