Morning News | Tether makes a $100 million equity investment in Anchorage Digital; Cookie DAO will transform into a prediction market platform; Multicoin co-founder's tweet deleted seconds before leaving
Overview of Important Market Events on February 5th整理：ChainCatcher
Important News:
- Multicoin co-founder deleted tweet before leaving: no longer believes in the vision of Web3
- He Yi: The community's "withdrawal campaign" is an effective stress test for exchanges
- Cookie DAO announces transformation into a prediction market platform
- Gemini to close all customer accounts in the UK, EU, and Australia
- Tether announces $100 million strategic equity investment in Anchorage Digital
- Circle partners with Polymarket to enhance stablecoin infrastructure for prediction markets
- Hong Kong SFC plans to allow VATPs to provide secondary trading of tokenized securities for retail investors
What important events have occurred in the past 24 hours?
Circle partners with Polymarket to enhance stablecoin infrastructure for prediction markets
According to ChainCatcher, stablecoin provider Circle announced a partnership with Polymarket to enhance the stablecoin infrastructure for prediction markets. Circle will introduce a transparent, fully reserved stablecoin infrastructure for prediction markets, improving settlement reliability and reducing friction to support the next phase of on-chain financial market development.
According to ChainCatcher, the Deputy Director of the Intermediaries Division of the Hong Kong SFC, Lo Hoi Si, revealed that they are considering allowing licensed virtual asset platforms (VATPs) to provide secondary trading of tokenized securities for retail clients, focusing on local tokenized money market funds and hoping to allow trading on licensed VATP platforms. The regulatory body is currently studying related requirements, operational risks, and control measures, and is drafting relevant circulars.
Lo Hoi Si stated that from the perspective of the Hong Kong SFC, tokenized securities are essentially the same as ordinary securities, just with a technological layer, applicable to "the same business, the same risks, and the same rules."
According to ChainCatcher, as reported by Coindesk, Checkonchain data shows that Bitcoin's current price is around $70,000, which is below its estimated average production cost of about $87,000, a difference of about 20%. Historically, Bitcoin prices remaining below production costs is often a characteristic of bear markets, similar situations occurred in the market cycles of 2019 and 2022.
The total network hashrate peaked at about 1.1 ZH/s last October but has since dropped about 20% due to the shutdown of less efficient miners, recently rebounding to 913 EH/s, showing initial signs of stabilization. However, at the current price, many miners are still in a state of loss. To maintain daily operations, pay energy costs, and repay debts, miners are continuously selling their Bitcoin reserves, highlighting the ongoing financial pressure faced by the industry.
According to ChainCatcher, Singapore cryptocurrency company Penguin Securities announced the completion of approximately 2.8 billion yen (about $18 million) in financing, with investors including mint and the Tokyo University of Science Investment Management Company among several Japanese investment institutions.
The company was co-founded in 2023 by Japanese entrepreneurs Yuya Kuratomi, Kentaro Kawabe, and Shogo Setoguchi, and has obtained a capital markets services license from the Monetary Authority of Singapore (MAS) in 2025.
Gemini to close all customer accounts in the UK, EU, and Australia
According to ChainCatcher, as reported by Bloomberg, cryptocurrency exchange Gemini announced it will close all customer accounts in the UK, EU, and Australia. According to its announcement on February 5, accounts in these regions will enter a withdrawal-only mode starting March 5, with plans to complete the full closure a month later. Meanwhile, Gemini has halted new account registrations and all incentive programs in these areas.
Gemini went public in September 2025, and its stock price has fallen about 23% since early 2025 due to the decline in cryptocurrency prices. On the day the news was released, its stock price further dropped by 2.8%.
Tether announces $100 million strategic equity investment in Anchorage Digital
According to ChainCatcher, Tether Investments announced today a $100 million investment in digital asset platform Anchorage Digital. Anchorage Digital Bank N.A. is the first federally regulated digital asset bank in the U.S., providing staking, custody, governance, settlement, and stablecoin issuance services for global institutions and innovators.
Strategy founder Michael Saylor calls for "HODL"
According to ChainCatcher, Strategy (MSTR) founder Michael Saylor tweeted "HODL" (hold on for dear life).
The world's largest Bitcoin treasury company, Strategy (MSTR), will release its Q4 2025 financial report after the U.S. stock market closes today. Additionally, Strategy's current unrealized losses on its Bitcoin holdings have now exceeded $6.4 billion. Strategy holds 713,502 BTC at an average purchase price of $76,052, with a total acquisition cost of approximately $54.26 billion.
According to ChainCatcher, as reported by The Block, a senior Democratic member of the U.S. House of Representatives has launched an investigation into the cryptocurrency project World Liberty Financial (WLFI) related to Donald Trump, following reports that the project received a $500 million investment from an entity associated with a member of the UAE royal family.
House member Ro Khanna sent a letter to WLFI co-founder Zach Witkoff requesting detailed information and related documents. The letter cited an earlier report from The Wall Street Journal, stating that Aryam Investment 1 (controlled by UAE National Security Advisor and President's brother Sheikh Tahnoon bin Zayed Al Nahyan) acquired a 49% stake in WLFI.
Cookie DAO announces transformation into a prediction market platform
According to ChainCatcher, Cookie DAO announced on the X platform that it will transform into a prediction market platform, betting on the fastest-growing sector in the cryptocurrency field.
ChainCatcher previously reported that Cookie DAO announced the cessation of operations for Snaps.
According to ChainCatcher, as reported by TheDefiant, as the cryptocurrency market continues to decline (BTC and ETH have both fallen below $73,000 and $2,100, respectively), the cumulative market value of the 20 largest DAT companies has shrunk by $17 billion.
Among them, Tom Lee's Bitmine Immersion accounts for nearly 44% of that figure, with unrealized losses on its ETH holdings reaching as high as $7.5 billion, with an average purchase price of $3,900.
Michael Saylor's Strategy follows closely behind; despite Bitcoin's trading price being only 2.8% lower than its average acquisition price of $76,000, the company has still incurred a loss of $2.2 billion.
According to ChainCatcher, as reported by Financefeeds, the U.S. Securities and Exchange Commission (SEC) has filed market manipulation charges against three crypto market makers—ZM Quant, Gotbit, and CLS Global. The SEC alleges that these companies used algorithms for fraudulent trading to create artificial trading volume, deceiving retail investors. Additionally, the SEC has also charged nine individuals, including promoters and company employees, accusing them of hiring manipulation services and executing meaningless trades, violating anti-fraud and registration provisions of securities laws.
As part of the investigation, the FBI conducted a sting operation using a fictitious token called NexFundAI, revealing these companies' willingness to engage in fraudulent trading. This case has led to 15 entities being charged and has triggered related criminal lawsuits.
Arthur Hayes: Today we should pay attention to "black swan" events, BTC's movement is too abnormal
According to ChainCatcher, Arthur Hayes tweeted, "Maybe I should pay attention to 'black swan' events today, after all, BTC's movement is too abnormal."
Yi Lihua: Can't help but be bullish, will continue to wait while controlling risks
According to ChainCatcher, Liquid Capital founder Yi Lihua posted on X:
"Being in the industry always makes it hard to be bearish, which relates to my past entrepreneurial experiences. Back then, I couldn't find a job and started my own business. After making my first pot of gold, I didn't dare to spend big and invested in tech projects, which should have performed well. Entering the cryptocurrency industry in 2015, I mined BTC, bought ETH, and invested in projects, hitting the golden age, which was a continuous journey of being bullish.
However, later bear market investments led to significant losses, and I couldn't withstand the bear market, liquidating my BTC too early, ultimately missing out on the bull market after 312, which is the consequence of being bearish. Liquid Capital has experienced a bull market after two rounds of bear markets, so this time, after escaping the peak, I am quite confident that I bought in too early and will continue to wait while controlling risks."
He Yi: The community's "withdrawal campaign" is an effective stress test for exchanges
According to ChainCatcher, He Yi posted on the X platform that some users in the community initiated a "withdrawal campaign," but after this action was launched, the asset quantity in Binance's address actually increased. Regularly initiating withdrawals from all trading platforms is indeed a very effective stress test, but he reminded that during the withdrawal process, it is necessary to carefully verify the address to reduce the risk of operational errors, as blockchain transfers, once completed, usually cannot recover funds.
He Yi also stated that he is learning to view everything with a positive mindset, such as price declines possibly being an opportunity to acquire high-value assets at lower prices, while FUD can enhance the understanding of Binance among those who were previously unaware, emphasizing that these views do not constitute investment advice.
Data: Bitmine's ETH holdings currently have an unrealized loss exceeding $8 billion
According to ChainCatcher, as monitored by Lookonchain, as the ETH price fell below $2,000, Bitmine's holdings of 4,285,125 ETH (valued at $8.47 billion) currently have an unrealized loss exceeding $8 billion.
Multicoin co-founder deleted tweet before leaving: no longer believes in the vision of Web3
According to ChainCatcher, as recorded by community users, Multicoin co-founder Kyle Samani stated yesterday in response to X user Taran (@Taran_ss) regarding "bear market complaints":
"Cryptocurrency is not as interesting as many people (including myself) once imagined. I once believed in the vision of Web3 and dApps. Now I don't believe anymore. Blockchain is essentially just an asset ledger. It will reshape finance, but that's about it, not much more. DePIN is another area worth noting. Cryptocurrency will continue to improve, but all the truly interesting questions have already been answered, except for the issue of on-chain privacy/confidentiality. (I still firmly believe Zama will win this race.)"
Kyle quickly deleted the tweet afterward and released a resignation announcement earlier today, stating that he has decided to step down from Multicoin Capital and will continue to serve as the chairman of Forward Industries (the largest SOL treasury company), looking forward to taking a break and exploring new directions in the tech field.
Kyle also tweeted in response that he personally remains extremely bullish on SOL and cryptocurrency and will continue to participate in the cryptocurrency field both personally and as the chairman of Forward.
However, Multicoin Capital's letter to LPs may further validate the notion that "Kyle is no longer interested in crypto." The letter stated that "Kyle's interests have expanded from cryptocurrency to other tech fields such as artificial intelligence, life sciences, and robotics, and he has decided to invest time exploring these emerging technologies."
Meme Popularity Rankings
According to the meme token tracking and analysis platform GMGN, as of February 6, 09:00,
The top five popular tokens on ETH in the past 24 hours are: SHIB, LINK, PEPE, UNI, ONDO
The top five popular tokens on Solana in the past 24 hours are: FWOG, USCR, PENGUIN, USELESS, swarms
The top five popular tokens on Base in the past 24 hours are: PEPE, SKYA, B3, NATO, TOSHI
What are some interesting articles worth reading in the past 24 hours?
In the power games of Wall Street, the giants are never absent; they are just waiting for the right moment to harvest the entire field.
This morning, Terry Duffy, CEO of the world's largest derivatives exchange CME Group, made a statement during the Q4 earnings call that stirred the entire market.
Duffy revealed that CME is actively exploring the issuance of its own digital token: "CME Coin."
DeFi's second half: Institutional credit on-chain and the rise of interest rate markets
Introduction: Current money market protocols (such as Aave, Morpho, Kamino, Euler) serve lenders well, but due to the lack of fixed borrowing costs, they fail to serve a broader group of borrowers, especially institutional borrowers. Since only lenders have been well served, market growth has stagnated.
From the perspective of money market protocols, P2P fixed rates are a natural solution, while interest rate markets provide an alternative with capital efficiency 240-500 times higher.
P2P fixed rates and interest rate markets are complementary and crucial for each other's prosperity.
A hidden war among cryptocurrency exchanges
Since the 1011 liquidation event triggered a chain reaction, liquidity in the cryptocurrency market has remained low, with major CEX spot trading volumes falling to their lowest levels since 2024.
Looking at major global assets, from the second half of 2025 to early 2026, safe-haven assets like gold and silver continue to rise strongly, while U.S. stocks are dominated by AI themes.
Meanwhile, major cryptocurrency exchanges are also actively laying out precious metals/commodities/forex contracts and tokenized U.S. stocks, seeking breakthroughs by leveraging the bull market in external assets.
When cryptocurrency is no longer interesting, when Multicoin Capital loses its soul
Today, Multicoin Capital co-founder and managing partner Kyle Samani announced on his social media account that he will step back from the daily management and investment decisions of Multicoin Capital and will explore opportunities in other tech fields outside the cryptocurrency industry. Multicoin's official statement later indicated that the fund will continue to operate normally, and the existing investments and team structure will not be affected.
Risk warning
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