Encrypted Breakfast | February 12 1. U.S. nonfarm payrolls increased by 130,000 in January, far exceeding market expectations and marking the largest increase since April 2025; the unemployment rate unexpectedly fell to 4.3%, a new low since August 2025. Following the release of the nonfarm payrolls data, traders lowered their expectations for a Federal Reserve rate cut. 2. Trump praised the non-farm payroll data and urged the Federal Reserve to cut interest rates to the "lowest in the world". 3. Trump met with the Israeli Prime Minister, stating that reaching an agreement with Iran would be his "top priority." It would be best to negotiate and avoid launching missiles, because every time missiles are launched, everyone ends up paying for them. 4. Coinbase launched Agentic Wallets, positioning the product as a payment infrastructure that is directly integrated into Coinbase's existing custody and compliance system, rather than simply a proxy framework. 5. BlackRock BUIDL launched on Uniswap: BlackRock's tokenized US Treasury bond fund BUIDL integrates with Uniswap through Securitize, marking its first step into DeFi. 6. XRP Ledger surpasses Solana in RWA tokenization value: XRP Ledger's total RWA tokenization value surpasses Solana's, and its holder structure shows stronger institutional participation. 7. A JPMorgan report states that institutional inflows and improving fundamentals will drive the recovery for the remainder of 2026. 8. Ethena suiUSDe launched on Sui: The synthetic US dollar suiUSDe was launched on the Sui mainnet, with a $10 million yield treasury. 9. Bloomberg: The UK Treasury selects HSBC's blockchain platform to pilot the issuance of digital government bonds. Are traditional institutions still hesitant to adopt Ethereum? 10. Lighter has launched a perpetual contract trading fee refund mechanism, with a maximum refund rate of 15%. 11. Coinglass platform data shows that Binance experienced a 24-hour outflow of $3.76 billion. Binance responded that it was a third-party data issue and that the platform's fund inflows and outflows were normal. 12. Bithumb acknowledged the existence of a "serious flaw" and that its internal systems were vulnerable to potential damage. 13. Denmark’s largest bank, Danske Bank, is offering Bitcoin and Ethereum ETPs to investors, ending an eight-year ban on cryptocurrencies. 14. Stripe preview version supports x402: Settlement in USDC at Base, targeting "AI agent payment"; and it has been revealed that it is incubating stablecoin payment L1 "Tempo". [Bitcoin Market Analysis] The Bitcoin spot ETF recorded a net inflow of $145 million, continuing the inflow of $371 million from Friday and ending the previous streak of outflows, indicating that institutional demand is re-emerging. The spot ETH ETF also turned to a net inflow of $57 million after three consecutive days of outflows. The continued inflow of institutional funds will inject confidence into the market. The current 60,000 level is being continuously tested as a temporary bottom. The market will continue its oscillating and adjusting trend, followed by a rebound and a second bottom test. By Q3, the market will take off again. The altcoin market has been turbulent these past few days, with CEXs easily surging by 100%. Everyone should be aware of the risks. [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.