Foresight News 消息，据 @ai_9684xtpa 监测，易理华旗下 Trend Research 连最后 0.148 ETH 都充进了交易所，已清仓全部 ETH 持仓。该地址在 8 天内共抛售 658,168.58 枚 ETH，价值 13.54 亿美元，成本价约 3,104.36 美元，卖出价 2,058.05 美元，此轮共计亏损 6.88 亿美元。上一轮盈利的 3.15 亿美元已全部回吐，倒亏 3.73 亿美元。该地址于 2 月 6 日下午开始进行巨量抛售后，ETH 却止跌了，现价仍稳在 2000 美元上方。

<p>Foresight News 消息，据 @ai_9684xtpa 监测，易理华旗下 Trend Research 连最后 0.148 ETH 都充进了交易所，已清仓全部 ETH 持仓。该地址在 8 天内共抛售 658,168.58 枚 ETH，价值 13.54 亿美元，成本价约 3,104.36 美元，卖出价 2,058.05 美元，此轮共计亏损 6.88 亿美元。上一轮盈利的 3.15 亿美元已全部回吐，倒亏 3.73 亿美元。该地址于 2 月 6 日下午开始进行巨量抛售后，ETH 却止跌了，现价仍稳在 2000 美元上方。</p>

Trend Research 将最后 0.148 ETH 转入交易所，此轮共计亏损 6.88 亿美元

According to Foresight News , monitoring by @ai_9684xtpa, Trend Research, a company under Yi Lihua, has deposited its last 0.148 ETH into exchanges, clearing out its entire ETH holdings. This address sold a total of 658,168.58 ETH over 8 days, worth $1.354 billion, with a cost price of approximately $3,104.36 and a selling price of $2,058.05, resulting in a total loss of $688 million. The previous profit of $315 million has been completely wiped out, leaving a loss of $373 million. After the massive sell-off began on the afternoon of February 6th, ETH prices stabilized and remain above $2,000.

<p>According to Foresight News , monitoring by @ai_9684xtpa, Trend Research, a company under Yi Lihua, has deposited its last 0.148 ETH into exchanges, clearing out its entire ETH holdings. This address sold a total of 658,168.58 ETH over 8 days, worth $1.354 billion, with a cost price of approximately $3,104.36 and a selling price of $2,058.05, resulting in a total loss of $688 million. The previous profit of $315 million has been completely wiped out, leaving a loss of $373 million. After the massive sell-off began on the afternoon of February 6th, ETH prices stabilized and remain above $2,000.</p>

Trend Research transferred its final 0.148 ETH to exchanges, resulting in a total loss of $688 million in this round.

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...