<div id="readability-page-1"><div><div>Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance, covering key news, mining information, project updates, technological advancements, and other industry dynamics. This article is the news weekly, giving you a glimpse into the major events in the blockchain industry this week.<h2>Headlines</h2>▌Li Lin: Not an investor in Yi Lihua or Garrett Gin, did not reduce BTC or ETH holdings in this round of market activityOn February 8th, Huobi founder Li Lin responded on his WeChat Moments, stating that he is not an investor in LD or Garrett Gin, did not reduce his BTC or ETH holdings in this round of market activity, and stated that he has been repeatedly subjected to rumors in recent years, forcing him to clarify repeatedly. ... BitMEX co-founder Arthur Hayes stated that BTC derivatives do not create market movements; they merely amplify volatility in both long and short directions. There is no secret conspiracy to manipulate the crypto market. Thankfully, there has been no bailout, allowing us to quickly clear out over-leveraged &#34;tourist funds&#34; and return to a trend of only rising prices. According to on-chain analyst Ai Yi (@ai_9684xtpa), Trend Research, owned by Yi Lihua, transferred its last 0.148 ETH to an exchange platform, selling a total of 658,168.58 ETH over eight days, worth $1.354 billion. The cost price was approximately $3,104.36, and the average selling price was $2,058.05, resulting in a total loss of $688 million in this round. Trend Research also gave back all of its previous profit of $315 million, recording a total loss of $373 million. Trump has recently claimed inflation is under control 20 times. He has consistently portrayed himself as the Republican Party's leading voice on the cost of living issue. Since December, Trump has delivered five speeches on the economy, claiming nearly 20 times that inflation is under control or has fallen significantly, and nearly 30 times that prices are declining. These claims contradict the nearly 3% inflation rate over the past year and voters' firsthand experience of paying higher prices for necessities. For example, since Trump took office a year ago, beef prices have risen 18%, and coffee powder prices have risen 29%. Republican strategists say that Trump's contradictory messages on issues most important to voters could damage his and the Republican Party's credibility ahead of the November midterm elections, when control of Congress will be tested. Polls show that American voters are deeply dissatisfied with Trump's economic policies. (Jinshi) Cryptocurrency exchange Gemini has announced the closure of all its customer accounts in the UK, EU, and Australia. According to its announcement on February 5th, starting March 5th, accounts in these regions will enter a withdrawal-only mode, with a planned complete closure within a month. Gemini has also halted new account registrations and all incentive programs in these regions. <h2>Policy</h2>▌Tether Assists Turkey in Freezing $544 Million in Illegal Crypto AssetsTether, at the request of Turkish regulators, has frozen over $544 million in crypto assets linked to a suspected illegal online gambling and money laundering network. Tether CEO Paolo Ardoino stated that the company took legal action after receiving information from law enforcement, and this cooperation is part of Tether's global compliance efforts, having previously cooperated with agencies such as the US Department of Justice and the FBI. Data from analytics firm Elliptic shows that as of the end of 2025, Tether and Circle had blacklisted approximately 5,700 wallets, freezing a total of approximately $2.5 billion, of which about two-thirds were USDT. ...h2&gt;<ol></ol>▌Cryptocurrency Company Penguin Securities Raises Approximately US$18 Million in FundingSingapore-based cryptocurrency company Penguin Securities announced the completion of a funding round of approximately 2.8 billion yen (approximately US$18 million). Investors include mint, Tokyo University of Science Investment Management, and several other Japanese investment institutions. The company was co-founded in 2023 by Japanese entrepreneurs Yuya Kuratomi, Kentaro Kawabe, and Sho Setoguchi, and obtained a Capital Markets Services License from the Monetary Authority of Singapore (MAS) in 2025.▌Cryptocurrency Company Penguin Securities Raises Approximately US$18 Million in Funding▌Vitalik: New EVM Chains Should Be Innovative and Genuinely Dependent on Ethereum, Avoiding Blind CopyingEthereum founder Vitalik Buterin stated that many newly built EVM chains are simply copying existing architectures or connecting to Ethereum via optimistic bridges with a one-week delay. This approach is similar to repeatedly copying Compound in governance; while &#34;comfortable,&#34; it exhausts innovation in the long run, leading the ecosystem into a dead end. If new chains are not connected to Ethereum's optimistic bridges (i.e., purely replacing L1), the situation is even worse. What the ecosystem truly needs are projects that bring new features, such as privacy protection, application-specific efficiency, or ultra-low latency. The form of &#34;Ethereum connection&#34; must match the actual functionality. For example, prediction market applications can issue and settle markets and manage user accounts on L1, but transaction execution occurs in a Rollup or L2 system, verifying signatures and market states through L1. Deeply connected L1 architectures should be prioritized, rather than merely using bridging as a formality for approval. Another type of &#34;application chain&#34; can verify algorithm execution on government, social media, or gaming platforms, using technologies like STARKs to ensure updates are authorized and executed according to pre-committed rules. While not entirely Ethereum, these chains offer algorithmic transparency and minimized trust, facilitating economic activities that would otherwise be impossible. New projects should achieve two things: First, genuinely bring innovation, not just copy the existing EVM chain; second, their public image should match their actual functionality. The project's claimed level of connectivity with Ethereum should accurately reflect its technological and ecosystem dependence, ensuring ecosystem interoperability and long-term value. According to the Hong Kong Economic Journal, the Hong Kong Securities and Futures Commission (SFC) is considering allowing licensed Virtual Asset Platforms (VATPs) to provide secondary trading of tokenized securities for retail investors. The focus is on local tokenized money market funds, with a desire to allow them to trade on licensed VATP platforms. The regulator is currently studying the relevant requirements, operational risks, and control measures and is drafting a related circular. Lo Hoi-shi stated that from the SFC's perspective, tokenized securities are essentially the same as ordinary securities, only with added technical aspects, and are subject to &#34;the same business, the same risks, and the same rules.&#34; Tether has announced a $150 million acquisition of a 12% minority stake in Gold.com, integrating its gold-backed token XAUT into the Gold.com platform to expand the global distribution of tokenized gold. The two companies also plan to explore the use of USDT and its newly launched, US-regulated stablecoin USAT to directly purchase physical gold. This move comes at a time of strong gold prices and rapid expansion of the tokenized gold market, which has exceeded $5.5 billion. Tether's XAUT currently holds over 60% of the market share and is backed 1:1 by physical gold held in Swiss vaults. On the same day, Tether also announced an investment in the US-regulated crypto bank Anchorage Digital to support the development of USAT. <ol></ol><h2>Cryptocurrency</h2>▌Michael Saylor: Selling Bitcoin is also an option; no longer insisting on only buying and never sellingAccording to Caixin.com, Strategy, the world's largest corporate Bitcoin holder, stated in its Q4 and full-year 2025 financial results that the company recorded an unrealized loss of $17.4 billion in fair value changes of assets in Q4, with a net loss of $12.4 billion. Although the company holds $2.25 billion in cash reserves, which can cover debt interest and dividends, and there is no immediate risk of selling, co-founder Michael Saylor no longer insisted on &#34;only buying and never selling&#34; during the earnings call, stating that &#34;selling Bitcoin is also an option.&#34; One investor commented that &#34;this will undoubtedly further trigger a pre-emptive sell-off in the market.&#34;▌10X Research Head: Bitcoin May Fall to $40,000-$50,000 This SummerCryptocurrency research firm 10X Research points out that Bitcoin may experience a brief rebound or consolidation, but it could still reach new lows this summer. Markus Thielen, the firm's research head, estimates that Bitcoin could fall as low as $50,000, or even to the $40,000-$50,000 range. This week's selling pressure in the crypto market mainly stemmed from the sell-off of Bitcoin spot ETFs, the forced liquidation triggered by the sharp price drop, and the collateral damage from the sell-off in software stocks, further exacerbating market volatility. However, some investors entered the market to buy, causing prices to rebound rapidly in a short period. Nevertheless, most market participants remain cautious about whether the market has reached its bottom.▌a16z crypto: We are currently in the financial era of blockchainChris Dixon, partner and leader of a16z crypto, published an article on social media titled &#34;The Long-Term Game of Cryptocurrency,&#34; stating: There's a popular saying that non-financial applications of cryptocurrency are dead. Some even claim the &#34;read-write-own&#34; model has failed. These conclusions misunderstand the core concepts and misjudge our current stage of development. We are currently in the financial era of blockchain. But the core concept has never been that all crypto applications will emerge simultaneously, nor that finance won't come first. Its core idea has always been that blockchain introduces a new primitive: the ability to coordinate human and capital on an internet-scale and directly embed ownership into the system. (And increasingly, it's also used to coordinate AI agents.) Finance is the domain where this primitive most naturally proves its value, which is why we often cite finance as a primary example of productive use cases for tokens. Finance isn't separate from a grander vision; it's an integral part of it. It's the foundation and testing ground for everything else. At a16z and a16z crypto, we look to the long term: our fund structure is designed for cycles exceeding 10 years because building new industries takes time—the order of operations is crucial. Infrastructure and distribution networks often precede new application categories. The internet didn't begin with social media, streaming, or online communities; it began with packet switching, TCP/IP, and basic connectivity. Completely new cultural and economic categories emerged only after hundreds of millions of people were online. Cryptocurrency is likely to follow suit. A reasonable assumption is that we need to get hundreds of millions of people on-chain through financial applications like payments, stablecoins, savings, and DeFi before we see meaningful adoption in media, gaming, AI, or perhaps even further afield. Many applications rely on existing wallets, identities, liquidity, and trust mechanisms. This is why a16z has spent over five years working to establish a clear regulatory framework for tokens. Great undertakings take time. The breakthroughs we see in AI today are the result of decades of hard work by exceptional talent. Building new technological systems is a marathon, and this is what a marathon looks like in practice: a long period of preparation followed by a sharp turning point. It is precisely these chaotic years that create the obvious achievements of the future. According to Alternative data, the cryptocurrency fear and greed index fell to 6 on February 7th (from 9 yesterday), further exacerbating the market's &#34;extreme fear&#34; sentiment. At this current level, historically, only June 2022 and August 2019 have seen such low readings. Note: The fear index ranges from 0-100 and includes the following indicators: volatility (25%) + market volume (25%) + social media buzz (15%) + market surveys (15%) + Bitcoin's share of the overall market (10%) + Google trending topics (10%). ▌Metaplanet CEO: Will Continue to Steadily Increase Bitcoin HoldingsFebruary 6th news: Simon Gerovich, CEO of the Japanese &#34;micro-strategy&#34; Metaplanet, stated in an article that they fully recognize that, given the recent stock price trend, the current period remains quite challenging for shareholders. However, Metaplanet's strategy remains unchanged. They will continue to steadily accumulate Bitcoin, improve its profitability, and prepare for the next phase of growth.<h2>Important Economic Developments</h2>▌Federal Reserve Vice Chairman Jefferson Hints: No Need for Policy Adjustments in the Short TermFederal Reserve Vice Chairman Jefferson stated that the central bank's current interest rate stance is &#34;perfectly suited&#34; to the robust economic conditions, indicating that he is not in a hurry to resume the rate cuts that the Fed paused in January. Jefferson pointed out that although the inflation rate has consistently been above the Fed's 2% target, he expects the downward trend in inflation to resume later this year. At the same time, he estimates the overall economic condition to be good, with economic growth expected to reach approximately 2.2% in 2026.▌UBS Group: Believes Gold and Silver May Rise Further in 2026UBS Group: Believes Gold and Silver May Rise Further in 2026.UBS Group: Believes Gold and Silver May Rise Further in 2026.▌Trump: Interest rates will be lowered, it's &#34;almost a foregone conclusion&#34;US President Trump: Interest rates will be lowered, it's &#34;almost a foregone conclusion.&#34; I think Warsh understood that I wanted to lower interest rates, and if he had indicated he wanted to raise rates, he wouldn't have gotten the job.▌The probability of the Fed keeping interest rates unchanged in March is 90.1%According to CME's &#34;FedWatch&#34;: The probability of the Fed cutting interest rates by 25 basis points by March is 9.9%, and the probability of keeping interest rates unchanged is 90.1%. The probability of the Fed cumulatively cutting interest rates by 25 basis points by April is 23.2%, the probability of keeping interest rates unchanged is 75.1%, and the probability of cumulatively cutting interest rates by 50 basis points is 1.6%.The probability of a cumulative 25 basis point rate cut by June is 46.0%. The U.S. Bureau of Labor Statistics announced that the release date for the January non-farm payrolls report will be February 11, and the release date for the January CPI report will be February 13. In addition, the December job openings and labor mobility report will be released on February 5. Previously, due to the partial shutdown of the U.S. government, the release of some data was delayed, but the shutdown ended late Tuesday local time, and the operating funds for the Department of Labor and most other government agencies will remain until September 30. It is understood that in addition to the regular monthly employment data and unemployment rate data, the January employment report also includes the highly anticipated revisions to the annual employment data.</div></div></div>

Li Lin clarified he is not an investor in LD or Garrett Gin and has not reduced his BTC or ETH holdings. Arthur Hayes stated that BTC derivatives do not manipulate the market but amplify volatility. Trend Research sold 658,168.58 ETH, incurring a loss of $688 million. Gemini announced the closure of customer accounts in the UK, EU, and Australia. Tether froze $544 million in crypto assets linked to illegal activities in Turkey. Penguin Securities raised approximately $18 million in funding. Vitalik Buterin emphasized the need for innovation in new EVM chains.

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Li Lin: Not an investor in LD. Arthur Hayes: There was no conspiracy to dump shares.