News Highlights from February 15 to 23:
Wu Jihan responds to Bitdeer's clearing of Bitcoin: does not mean they won't hold in the future
- US SEC Commissioner: Plans to amend rules to clarify regulatory framework for payment stablecoins, supports a 2% capital haircut on payment stablecoins
Tom Lee: The crypto bear market may end by April at the latest
AI/Macro
PANews, February 23 - Nikita Bier, head of the X product and advisor to Solana, stated that the platform will use “all available tools and strategies” to combat bot accounts and undisclosed AI-generated content accounts in the AI era. He pointed out that users come to X to “have a pulse on humanity,” so the platform must make every effort to prevent any distortion or alteration of this genuine expression. He also emphasized, “There is nothing more unsettling than thinking you are reading human text only to find out it is machine-generated content or an account controlled by undisclosed commercial or government entities,” and that in the AI era, X's product design, policies, and overall strategy need to evolve meaningfully.
Trump: Raise global tariffs from 10% to 15%
PANews, February 22 - Trump stated on social media that following a comprehensive, detailed, and complete review of the Supreme Court's ruling on tariffs on the 20th, as President of the United States, he will immediately raise the 10% global tariffs imposed on many countries to a fully legal and legally tested 15% level. Many of these countries have been “exploiting” the United States for decades without any punishment (until I took office!). In the coming months, the Trump administration will identify and enact new legal tariffs that will allow America to continue its extraordinary process of making great again.
PANews, February 21 - SEC Commissioner Hester Peirce stated that she hopes to amend Rule 15c3-1 to more clearly encompass payment stablecoins. The agency has released an FAQ clarifying the regulatory treatment of payment stablecoins under the net capital rules for broker-dealers, mainly including: 1. If a broker-dealer applies a 2% capital haircut to its proprietary payments stablecoin assets when calculating net capital, regulators will not object. 2. Prior to the enactment of the “GENIUS Act,” stablecoins need to be denominated in USD, issued by state-regulated money transfer agents, state-chartered trust companies, or national trust banks, and meet reserve asset requirements, redemption policy disclosures, and have monthly attestations from registered accountants; after the act's enactment, they must comply with the definitions and requirements of “payment stablecoins” and “compliant issuers” as defined by the “GENIUS Act.”
OpenAI: Expected to exceed $280 billion in revenue by 2030
PANews, February 21 - According to Jinshi, an informed source revealed that OpenAI expects its revenue to grow rapidly in the coming years, exceeding $280 billion by 2030. This revenue forecast reflects OpenAI's strong growth momentum in selling AI software subscription services to consumers and businesses. OpenAI has also recently started testing advertising services with some users, creating a new potential revenue source for the company. Additionally, OpenAI plans to control total computing expenses at around $600 billion by 2030 while paving the way for an IPO, potentially valuing the company at up to $1 trillion.
PANews, February 20 - According to CoinDesk, the White House, in discussions with the banking and crypto industries, expressed support for parts of the stablecoin reward program and urged the banking sector to reach an agreement on the market structure bill. It is reported that if the banking sector agrees, the limited stablecoin rewards will be incorporated into the next draft of the U.S. Senate's Digital Asset Market Clarity Act. At Thursday's meeting, the White House team led by Trump’s crypto advisor Patrick Witt explicitly stated that the reward programs for certain activities would remain in the bill, but rewards similar to deposit account holdings of stablecoins were excluded. Blockchain Association CEO Summer Mersinger stated that the meeting made constructive progress in resolving reward-related issues and maintaining the legislative process of market structure. The bill still needs to address Democratic demands to strengthen DeFi regulation, prohibit high-ranking government officials from directly participating in the crypto industry, and fill the vacancies of CFTC and SEC commissioners.
PANews, February 18 - According to The Information, AI giant Anthropic recently made its most optimistic forecast, predicting that by 2029, it will pay at least $80 billion to Amazon, Google, and Microsoft to run its Claude AI system on their cloud servers, but this is not the only way these tech giants will profit from Anthropic: if their clients purchase Anthropic's AI products, they can also share in the revenue generated by Anthropic, which is growing rapidly. According to Anthropic's data, the company only paid about $1.3 million to cloud service providers for AI sales commissions in 2024.
Cryptocurrency exchange Gemini's three executives collectively resign months after IPO
PANews, February 17 - Cryptocurrency exchange Gemini Space Station Inc. announced on Tuesday that its Chief Operating Officer, Chief Financial Officer, and Chief Legal Officer would be leaving immediately. Notably, Marshall Beard, who also served as a member of the Gemini board, has resigned from his board position. The company stated that his departure was not due to any disagreements with the company.
Pentagon threatens to penalize AI company Anthropic
PANews, February 16 - According to Jinshi, a senior Pentagon official said that U.S. Defense Secretary Lloyd Austin is “about to” cut commercial ties with Anthropic and designated the AI company as a “supply chain risk,” meaning that anyone wishing to do business with the U.S. military must sever ties with the company. Anthropic's Claude is currently the only available AI model in the U.S. military's classified systems and has a leading position in many commercial applications. Pentagon officials have given high praise to Claude's capabilities. However, the Pentagon accuses Anthropic of imposing harsh restrictions on how the Department of Defense can use its tools, including wanting to ensure that its tools are not used for large-scale surveillance of Americans or for developing weapons that can be launched without human intervention.
Charles Schwab hires product manager for stablecoin-related business
PANews, February 16 - According to job postings on Charles Schwab's official website, the company is recruiting a product manager (senior manager) for digital assets and stablecoin-related businesses. It is reported that its digital asset business division is developing crypto products for retail clients, covering account opening, capital flows, crypto trading, and on-chain transfers.
Short positions on the dollar have reached their highest level since January 2012
PANews, February 16 - According to Jinshi, based on the latest foreign exchange and interest rate sentiment survey by Bank of America, the sentiment towards the dollar in February is at its most negative level in 14 years. Currently, short positions on the dollar have reached their highest since January 2012.
Opinion
Wu Jihan responds to Bitdeer's clearing of Bitcoin: does not mean they won't hold in the future
PANews, February 22 - In response to news of Bitdeer clearing its Bitcoin holdings, its Chairman and CEO Wu Jihan stated that having zero holdings now does not mean it will always be that way in the future. Previously, news from Bitcoin miner Bitdeer revealed that their latest BTC holdings data shows that their total Bitcoin holdings have dropped to zero, and all mining output this week has also been sold off.
PANews, February 21 - According to The Block, on-chain analysis firm glassnode pointed out that Bitcoin has breached the “True Market Mean,” an indicator historically used to delineate expansion and contraction cycles. Currently, the structural support is looking towards $54,900. Additionally, the net flow of the U.S. spot Bitcoin ETF has resumed continuous outflows, weakening the support that was previously marginal demand. In the derivatives market, panic sentiment has cooled but has not turned optimistic, while implied volatility has retreated from high levels, indicating that traders are unwinding downside protection positions but have yet to establish large long positions.
PANews, February 21 - Evgeny Gaevoy, founder of crypto market maker Wintermute, recently stated in the Crypto Playbook podcast by Fortune magazine that despite the favorable trend of pro-blockchain government and Wall Street adoption, the crypto industry has gradually been dominated by a mentality that “only pursues price increases (number go up),” deviating from the original cypherpunk ethos. Bitcoin was initially intended to build a decentralized monetary system out of government and bank control, but the current direction of the industry revolves more around financialization and speculation. The crypto industry should return to the cypherpunk spirit instead of completely integrating into Wall Street in the future.
PANews, February 21 - Thomas Strobel, strategist at Italian UniCredit, stated that Bitcoin's recent decline primarily reflects weak market sentiment and macro pressures. Although U.S. regulatory uncertainties have eased, somewhat lowering policy risks, the bank maintains a neutral stance and estimates Bitcoin's fair value at around $75,000. If the price drops about 35% below this level, especially if it remains below $50,000, it may imply a deeper structural shift. For Bitcoin prices to recover, they need to rely on an improvement in sentiment, a rebound in ETF capital inflows, and an overall improved liquidity environment.
PANews, February 20 - A financial magazine published an article titled “When Will Central Banks Stop Stockpiling Gold?”, indicating that while the Federal Reserve is committed to maintaining stable interest rates, the Trump administration is pushing for lower interest rates, leaving global interest and inflation situations still unclear. The latest data from the World Gold Council shows that the total foreign exchange reserves of various central banks amount to about $13 trillion, with official gold holdings at 36,000 tons. At the current gold price of $5,500 per ounce, the value of the gold held by central banks is around $6.37 trillion. According to Deutsche Bank's research, when gold prices hit $5,790 per ounce, central banks' gold reserves will exceed their dollar reserves, at which point gold will become the global “primary” reserve asset.
K33: Bitcoin enters the “late bear market region”, market signals similar to the end of 2022
PANews, February 18 - According to The Block, research and brokerage company K33 stated that the current Bitcoin market structure, derivative positions, and ETF fund flows are highly similar to those in the late 2022 bear market, indicating a possible entry into prolonged consolidation rather than a rapid rebound. K33 research director Vetle Lunde noted that their proprietary indicators show a “striking similarity” between the current state and September and November 2022 (near the bear market bottom). However, historical experience indicates that market bottoms are often accompanied by prolonged consolidation, with average returns of only about 3% over 90 days in similar conditions. Data shows Bitcoin has dropped nearly 28% since January, with funding rates negative for 11 consecutive days, and open interest falling below 260,000 BTC, with long positions being liquidated. Spot trading volume has decreased by 59% week-over-week, and futures open interest has fallen to a four-month low.
Founder of the renowned “Black Swan Fund” warns: S&P 500 may surge to 8,000 points and then crash
PANews, February 18 - According to Jinshi, Mark Spitznagel, founder and CIO of the “Black Swan Fund” Universa Investments, stated that the upward trend of U.S. stocks has not yet ended - at least not at the moment. In a recent letter to investors, Spitznagel wrote that in the coming year, the market will remain in a “Goldilocks zone - inflation and interest rates declining, economic slowdown but not overly, market sentiment turning euphoric - the stock market will continue to rise and end with a surge.” However, he added, “the largest bubble in human history” is currently in its final stage. The hedge fund run by Spitznagel has been focusing on tail risk hedging for nearly two decades, aiming to protect investors' portfolios from the next major crash.
Tom Lee: The crypto bear market may end by April at the latest
PANews, February 15 - According to Hokanews, Tom Lee, co-founder of Fundstrat and Chairman of BitMine, stated that the long-term slump of digital assets may be nearing its end, and the crypto bear market has either already ended or will reach its bottom by April at the latest, with the market possibly needing one more “dive” to establish a bottom. Lee's outlook suggests that the current cycle may be following a similar historical pattern, where the capitulation stage is usually marked by a final wave of selling, after which the market stabilizes.
PANews, February 15 - According to Coindesk, Steve Kurz, head of global asset management and co-head of digital assets at Galaxy Digital, believes that the recent decline in cryptocurrencies is due to the release of liquidity and leverage, rather than a systemic failure. This indicates that the cryptocurrency cycle is more mature than in 2022, and much of the forced selling may have been absorbed by the market. The integration of stablecoins, tokenization, and blockchain with traditional finance is accelerating, making cryptocurrencies both a financial asset and a core component of the financial system. Steve Kurz expects that cryptocurrencies will not experience a V-shaped recovery but will undergo a period of range-bound fluctuation before gradually rising as institutional capital flows in and the ongoing “big integration” of cryptocurrencies with traditional finance progresses.
Project/Institution Dynamics
PANews, February 23 - WLFI announced on the X platform that USD1 faced an organized attack this morning. The attackers allegedly hacked into multiple WLFI co-founders' accounts, paid influencers to spread panic information (FUD), and massively shorted $WLFI, trying to profit from artificially created market chaos. WLFI stated that the attempt was unsuccessful. With USD1's robust minting and redemption mechanism and 100% 1:1 asset support, USD1 continues to trade near its par value. The team emphasizes that no malicious actors can undermine its long-term commitment to USD1. WLFI also reminds users to obtain accurate information only through official verified channels to avoid misleading content.
PANews, February 23 - The AI trading bot “Lobstar Wilde” developed by OpenAI employee Nik Pash mistakenly transferred all Memecoin tokens worth $250,000 to a user requesting 4 SOL. Due to liquidity issues, the recipient sold the tokens for about $40,000. The incident may have resulted from the bot misinterpreting API data.
Base announces it will abandon OP Stack, causing OP to drop over 20%, hitting a historic low
PANews, February 19 - After Base announced it would abandon OP Stack to transition to its own “unified stack,” OP tokens plummeted over 20%. This decision removed an important catalyst from the Optimism ecosystem, exacerbating the downward trend of OP.
PANews, February 19 - The Ethereum Foundation released a 2026 protocol priority update, indicating that it will advance along three tracks: expanding capacity (integrating L1 execution and Blob scaling), improving user experience (focusing on native account abstraction and cross-chain interoperability), and strengthening the L1 layer (enhancing security, anti-censorship, and network resilience). Moreover, the Ethereum Foundation stated it will continue to push for Gas Limit increases to 100M and above, advance ePBS and further Blob parameter adjustments, promote the zkEVM attester client, and work on anti-censorship and post-quantum security issues; the next major upgrade, Glamsterdam, is targeted for the first half of 2026, with Hegota planned for follow-up later in the year.
Strategy's Bitcoin holding cost declines for the first time in nearly two and a half years
PANews, February 18 - According to Arkham monitoring, Strategy recently purchased $168.4 million worth of Bitcoin at approximately $67,286, bringing MSTR's average holding cost down by $29 to $76,027. The last time an average cost decline occurred was on September 25, 2023, nearly two and a half years ago.
Dragonfly has completed the fourth fundraise, totaling $650 million
PANews, February 17 - According to Fortune, crypto VC Dragonfly has successfully completed its fourth fundraise, totaling $650 million. Dragonfly managing partner Haseeb stated that the fourth fund is the largest investment they have made so far, and they believe the cryptocurrency revolution is still in its early stages of exponential growth. He added, “Agent payments, on-chain privacy, and the tokenization of everything - the landscape of cryptocurrency is about to explode, and we want to support those founders who are leading the charge.”
Data
PANews, February 23 - According to SoSoValue data, for the trading day last week (February 16 to February 20, Eastern Time), the Bitcoin spot ETF experienced a net outflow of $316 million. As of press time, the total net asset value of Bitcoin spot ETFs is $85.31 billion, with the ETF net asset ratio (market value compared to Bitcoin's total market value) reaching 6.30%, with a historical cumulative net inflow of $54.01 billion.
PANews, February 23 - According to Alternative.me data, today's cryptocurrency Fear and Greed Index has dropped to 5 again after being at 9 yesterday, indicating a continued state of “extreme fear.” The entire month of February has seen this index remain in the extreme fear range.
PANews, February 22 - OpenClaw founder Peter Steinberger responded on social media to an incident where a user was banned for mentioning “Bitcoin” on the OpenClaw Discord server. He stated that the server has strict rules, which users agreed to upon entering, clearly prohibiting any discussion of cryptocurrency-related content.
PANews, February 17 - According to Coinglass data, the Coinbase Bitcoin premium index has been in negative premium for 33 consecutive days, currently reported at -0.0477%, setting a record for the longest “negative streak” since May 2023, surpassing the approximately 30 days of negative premium seen during the “1011 crash.” The Coinbase Bitcoin premium index measures the difference between Bitcoin prices on Coinbase (a mainstream platform in the U.S.) and the global market average, with a negative premium generally reflecting significant selling pressure in the U.S. market, decreased investor risk appetite, increased market risk aversion, or capital outflows.
Institution/KOL Holdings
PANews, February 23 - According to on-chain analyst Yu Jin monitoring, Bitcoin treasury company Strategy (MSTR) purchased 592 BTC (approximately $39.8 million) last week at around $67,286. They now hold a total of 717,722 BTC (approximately $47.501 billion) at an average cost of $76,020, with a floating loss of $7.059 billion. Ethereum treasury company Bitmine (BMNR) purchased 51,162 ETH (approximately $9.94 million) last week at around $1,943. They now hold a total of 4,422,659 ETH (approximately $8.504 billion) with an average cost of $3,779, facing a floating loss of $8.208 billion.
Continue Capital deposits 812,000 HYPE into Bybit, worth $22.2 million
PANews, February 23 - On-chain data monitoring shows that Continue Capital deposited 812,000 HYPE into Bybit about 10 minutes ago, worth $22.2 million.
PANews, February 23 - According to on-chain data monitoring, Brother Ma Huang Licheng has recently increased his 25x leveraged long position in Ethereum, currently holding about 3,325 ETH with an unrealized profit of approximately $100,000 and a liquidation price of about $1,879. In addition, Brother Ma has placed 25 limit sell orders for Ethereum between $1965 and $2050, totaling 950 ETH.
Arthur Hayes shares his personal investment portfolio, crypto assets include ZEC, HYPE, etc.
PANews, February 23 - Arthur Hayes, co-founder of BitMEX, shared his current investment portfolio on social media, which includes stocks (gold, silver, copper, uranium miners, oil giants, “war merchants,” Latin American energy companies), crypto assets (BTC, ETH, ZEC, HYPE) and physical gold.
Bitdeer clears Bitcoin holdings, all mining output sold off this week
PANews, February 22 - According to official sources, Bitcoin mining company Bitdeer (BTDR) released the latest data on its BTC holdings, indicating that as of February 20, its total Bitcoin holdings (pure proprietary holdings, excluding customer deposits) have dropped to 0, and its Bitcoin mining output for the week was 189.8 BTC, all of which were sold during the same period, resulting in a weekly net outflow of 943.1 BTC.
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