Daily Report | Former Deputy Director of Beijing Financial Bureau Sentenced to 11 Years for Involvement in Bitcoin Money Laundering Case; DeepSeek Be

Organizer: Luan Peng, ChainCatcher

Important News:

• U.S. SEC Delays Decision on BlackRock's Ethereum ETF Options Trading to April 9
• Former Deputy Director of Beijing Financial Bureau Sentenced to 11 Years for Bitcoin Money Laundering Case
• Musk Again Graces the Cover of Time Magazine
• Su Zhu: Closed BERA Short Position, Now Bullish on ETH
• Trump: DeepSeek is a Very Positive Development, Not a Bad Thing
• Poland's Central Bank Refuses to Accept Bitcoin as Reserve Currency Due to Security Concerns
• Judge Rules Coinbase Must Face Lawsuit from Customers Accusing It of Illegal Securities Sales
• Nigeria Launches First Compliant Stablecoin cNGN, Part of the Country's SEC Incubation Program

"What Important Events Happened in the Last 24 Hours"

U.S. SEC Delays Decision on BlackRock's Ethereum ETF Options Trading to April 9

According to The Block, the U.S. Securities and Exchange Commission (SEC) delayed its decision on whether to approve BlackRock's listing and trading of options on its spot Ethereum ETF on Friday. According to the submitted documents, the SEC stated it would decide by April 9, 2025, whether to approve or deny the proposed rule change allowing options trading for BlackRock's iShares Ethereum Trust.

The SEC stated, "The Commission believes it is necessary to designate a longer period to issue an order approving or disapproving the proposed rule change in order to have sufficient time to consider the proposed rule change and the issues raised by it."

Also on Friday, the SEC sought public comments on the proposal submitted by Cboe BZX Exchange on behalf of Fidelity to list and trade options on its spot Ethereum ETF. Comments must be submitted within 21 days after publication in the Federal Register.

Former Deputy Director of Beijing Financial Bureau Sentenced to 11 Years for Bitcoin Money Laundering Case

According to Caixin, Hao Gang, the former deputy director of the Beijing Local Financial Supervision and Administration Bureau, was sentenced to 11 years in prison in the first instance.

Hao Gang was involved in Bitcoin money laundering and had assisted executives of a leading Bitcoin mining company in lifting border controls, with the amount of bribes possibly reaching tens of millions. Hao previously served as the director of the Financial Risk Management Department of the Beijing Financial Bureau and became a member of the Party Leadership Group and deputy director of the bureau in August 2019, overseeing risk lines until he was investigated in April 2023 for suspected serious violations of discipline and law.

Musk Again Graces the Cover of Time Magazine

According to Time Magazine, Elon Musk is featured on the cover of the latest issue, with the caption "Elon Musk's War on Washington." In the cover photo, Musk is seated behind an ornate wooden desk symbolizing power, with the U.S. flag and presidential flag in the background, suggesting his deep ties to U.S. political power.

Reports indicate that Musk's "Department of Government Efficiency" (DOGE) team, although lacking formal charters and legal authorization, has gained significant powers due to Musk's influence. Their tasks include budget cuts, civil service reform, and limiting the ability of independent agencies to obstruct presidential policy goals. As a key ally of the Trump administration, Musk plays a critical role in federal government reform.

Su Zhu: Closed BERA Short Position, Now Bullish on ETH

Su Zhu, co-founder of Three Arrows Capital, posted that he has closed his short position on BERA, taking profits at $6.406, and has shifted to a bullish position on ETH.

Trump: DeepSeek is a Very Positive Development, Not a Bad Thing

According to Financial界, U.S. President Trump expressed his views on DeepSeek and whether it poses a national security threat, stating that it is a developing technology. If developed correctly, we will benefit from it, as the costs associated with the artificial intelligence involved will be much lower than people initially imagined, which is a good thing. Trump emphasized viewing it as a very positive development, not a bad thing.

Poland's Central Bank Refuses to Accept Bitcoin as Reserve Currency Due to Security Concerns

According to CryptoNews, the National Bank of Poland (NBP) firmly denied any possibility of including Bitcoin in its national reserves, citing security and stability concerns.

Adam Glapiński, the president of the National Bank of Poland and chairman of the Monetary Policy Council, announced this at a press conference, reiterating that the central bank's primary task is to ensure the absolute safety of its reserve assets. Glapiński stated, "Under no circumstances will we consider Bitcoin, as reserves must be absolutely secure."

Poland's reserves remain primarily composed of traditional assets such as gold, U.S. dollars, and euros, with a strategic focus on financial stability.

Judge Rules Coinbase Must Face Lawsuit from Customers Accusing It of Illegal Securities Sales

According to Reuters, a U.S. federal judge ruled on Friday that cryptocurrency exchange Coinbase must face a lawsuit from customers accusing the exchange of illegally selling securities without being registered as a broker-dealer. U.S. District Judge Paul Engelmayer in Manhattan dismissed Coinbase's argument that it does not qualify as a "statutory seller" under federal securities law because it never transferred ownership of the 79 tokens traded by customers. The judge cited the allegations: "Customers on Coinbase only transact with Coinbase itself," which is sufficient to conclude that Coinbase is a seller.

Engelmayer also rejected the dismissal of claims brought under the laws of California, Florida, and New Jersey, stating that customers have adequately alleged that Coinbase is a direct seller of these tokens. Coinbase stated in a statement, "Coinbase does not list, offer, or sell securities on its exchange. We look forward to defending against the remaining allegations in district court."

Nigeria Launches First Compliant Stablecoin cNGN, Part of the Country's SEC Incubation Program

According to Bitcoin.com News, Nigeria has launched its first compliant stablecoin, cNGN. The stablecoin has been listed on two exchanges and is part of the Securities and Exchange Commission (SEC) incubation program.

According to Nigerian Senator Ihenyen, this stablecoin, pegged to the Nigerian Naira, will enable faster, lower-cost, and safer cross-border payments.

PORK and PNDC Founders Once Featured on Puerto Rico's Most Wanted List

According to Protos, Jeremy Cahen, the founder of PORK and PNDC, was listed as one of Puerto Rico's top ten most wanted criminals by the police of San Juan for alleged assault. However, as of Thursday evening, he has been removed from the list, possibly indicating that he has been arrested, charges have been dropped, or he has fallen out of the top ten.

It is reported that Jeremy Cahen created the forked token PORK, which once had a market cap of $250 million, and the Uniswap forked token PNDC, which reached a market cap of $100 million.

DeepSeek Becomes the Fastest App to Break 30 Million Daily Active Users

QuestMobile data shows that DeepSeek surpassed Doubao in daily active users for the first time on January 28, and then broke the 30 million mark on February 1, becoming the fastest app to achieve this milestone in history.

"What Important Events Happened in the Last 24 Hours"

In-Depth Exploration of Ethereum's Issuance and Destruction: A Dynamic Game of Cat and Mouse

The reduction in ETH issuance and the increase in destruction occur simultaneously. Since Ethereum's merge, ETH has become scarcer than BTC.

Is the Crypto Market No Longer Rewarding Diamond Hands?

Once upon a time, Zhao Changpeng's saying "If you can't hodl, you won't get rich" was regarded as the golden rule of investing in the crypto space. Buy, hold firmly, and then sell for huge profits when the time is right; the HODL mentality was once very prevalent in the community.

Some investment institutions have achieved substantial returns through in-depth research and betting, such as obtaining hundreds or even thousands of times returns on MATIC and AAVE in the last cycle. Various legendary wealth stories have led retail investors to generally believe in the power of diamond hands. However, if this investment philosophy was somewhat effective in the last cycle, it is no longer believed by the market in this cycle, especially among players holding a lot of altcoins.

Under a four-year cycle, the market structure has changed significantly. If one cannot adjust their style in a timely manner, they often face the risk of standing guard at the peak. Has the market really stopped rewarding diamond hands?

Why Did Tether Spend Over $770 Million to Invest in Video Platform Rumble? Business Ties to Trump

Despite Tether's annual profits exceeding $10 billion and its recent acceleration in investment pace, the investment in Rumble, which spans different fields, remains surprising. This may be related to the close ties between Rumble and Trump, as well as its desire to expand its business presence in the U.S.

From New York to Washington, U.S. Anti-Crypto Forces Are Facing a Comprehensive Reckoning

The regulatory attitude in Washington is undergoing a fundamental change.

After 18 Days of Terminating Hundreds of Contracts, Musk Leads a Revolution in America with Six Gen Z Members

On the morning of February 3, Washington time, the headquarters of the U.S. Agency for International Development (USAID) was closed, and the once bustling office area fell silent. Just the night before, officials from the Department of Government Efficiency (DOGE) led by Elon Musk officially took over this 60-year-old international aid agency and announced plans for a complete shutdown. USAID employees received emails stating that all personnel, except for key positions, would transition to remote work. Meanwhile, the USAID website was taken offline, and official social media accounts were deleted, bringing the agency's operations to a halt.

Musk stated on social media that he had discussed this matter with President Trump and received full authorization to close USAID. He claimed that the agency was a "far-left criminal organization" that must be completely dismantled.

Musk collaborated with Trump to establish the "Department of Government Efficiency" (DOGE) to promote radical reforms under the guise of "streamlining government." Its core objectives mainly include cutting government spending, digitizing the bureaucratic system, and replacing human decision-making with algorithms. This dramatic closure of USAID has also revealed the true nature of the previously mysterious DOGE group, and this may just be the beginning, as the power landscape of the U.S. federal government is being rapidly reshaped.

Meme Popularity Rankings

According to the meme token tracking and analysis platform GMGN , as of February 8, 19:50:

The top five popular Ethereum tokens in the past 24 hours are: SPX, ONDO, PEPU, UNI, 69MINUTES

The top five popular Solana tokens in the past 24 hours are: YODA, YE, BATMAN, KALSHI, ARO

The top five popular Base tokens in the past 24 hours are: VIRTUAL, AIXBT, BRETT, ye, SKIBRETT