Today's News Highlights:
Musk's confrontation with Washington becomes the cover story of the latest issue of Time magazine.
Brazil's B3 stock exchange will launch BTC options and ETH and SOL futures contracts.
DeepSeek gains 100 million users in just 7 days.
CZ: Never purchased or owned TST, which has unauthorized use of the Binance logo.
Binance will list Cheems (1000CHEEMS) and Test (TST) and add seed tags for them.
Arweave's computing platform AO mainnet is now live.
Berachain Foundation: The second part of the airdrop will be distributed to wallets on February 10.
Market news: Pump.fun is planning to issue tokens using a Dutch auction model.
After launching the Meme coin, Trump has over 700 tokens sent to his wallet.
Regulation/Macro
Musk's confrontation with Washington becomes the cover story of the latest issue of Time magazine
Musk's confrontation with Washington has become the cover story of the latest issue of Time magazine, as Elon Musk leads a massive streamlining effort within the U.S. government. His "Department of Government Efficiency" (DOGE) has taken over the U.S. Digital Services Department and entered the Office of Personnel Management (OPM), laying off employees, cutting budgets, and restructuring federal agencies. In early February, DOGE attempted to forcibly enter the headquarters of the U.S. Agency for International Development (USAID), and after being denied, Musk referred to it as a "criminal organization" on X, leading to a near-total shutdown of the agency.
The Trump administration authorized Musk to advance the "Project 2025" reforms, aimed at reducing the size of government and eliminating opposition. Several civil servants were forced to resign for refusing to cooperate, and some agency leaders were replaced. The Democratic Party and unions have initiated legal action, with some courts ruling to suspend related actions. However, Musk still controls key agencies, raising concerns about excessive influence of private entrepreneurs over government power.
Brazil's B3 stock exchange will launch BTC options and ETH and SOL futures contracts
Brazil's B3 stock exchange will launch BTC options as well as ETH and SOL futures contracts, expanding its range of cryptocurrency products. B3 is Brazil's main stock exchange, listing dozens of cryptocurrency exchange-traded products along with stocks, bonds, and other financial products.
Former Sequoia Capital analyst Julian Fahrer tweeted that Montana's House Bill 429 will authorize the investment committee to invest up to $50 million in precious metals, digital assets, and stablecoins with an average market cap exceeding $75 billion before July 15, 2025. These funds must be held by qualified custodians or through exchange-traded funds.
AI/Metaverse
DeepSeek becomes the fastest app to surpass 30 million daily active users
QuestMobile data shows that DeepSeek's daily active users first surpassed Doubao on January 28, and then broke the 30 million mark on February 1, becoming the fastest app to achieve this milestone in history.
DeepSeek gains 100 million users in just 7 days
According to IT Home's AI product rankings, after the release of the DeepSeek R1 model on January 20, DeepSeek's user growth reached 125 million in January (note: including website and app users without deduplication). Over 80% of users came from the last week of January, achieving a growth of 100 million users in just 7 days without any advertising.
Project Updates
The app page shows that Binance Alpha has added TST.
Binance will list Cheems (1000CHEEMS) and Test (TST) and add seed tags for them
According to the official announcement, Binance will list Cheems (1000CHEEMS) and Test (TST) and add seed tags for them. The listing time is February 9 at 19:00 (UTC+8).
Bitget will list Test (TSTBSC) in the Innovation and Meme section
According to the official announcement, Bitget will list Test (TSTBSC) in the Innovation and Meme section. The trading open time is February 9 at 18:00 (UTC+8).
Ethereum block gas limit raised to 36M, L1 transaction volume increases by 20%
According to a technical update shared by Vitalik, Ethereum L1 has recently completed a dynamic adjustment of the block gas limit, increasing it from 30M to 36M, resulting in a 20% increase in L1 transaction throughput, while expected to reduce transaction fees by 10% to 30%.
This adjustment was not decided by any single entity but was the result of validators gradually adjusting parameters and reaching consensus. Currently, 49.5% of validators have reported adopting the 36M gas limit.
Arweave's computing platform AO mainnet is now live
Decentralized storage project Arweave has officially launched the mainnet version of its computing platform AO after a year of testing. The native tokens previously minted and distributed to AR holders and testnet depositors will be transferable after the mainnet launch.
AO is referred to by developers as a "super parallel computer," introducing a distributed computing environment with parallel processing capabilities. Arweave's permanent data storage supports AO's operation, ensuring data is immutable and permanently accessible. According to core developers, AO will support a new wave of dapps, including on-chain autonomous agents focused on AI coordination.
The launch of the AO mainnet is accompanied by the final release of its native token, which is separate from Arweave's AR token. The maximum supply cap for the AO token is 21 million, echoing Bitcoin's model. The AO team states that it adopts a fair distribution model, distributing tokens to users bridging assets to the platform and existing AR token holders.
Based on holdings, 36% will be allocated to AR holders over time. The remaining 64% is reserved for economic growth incentives, particularly for bridging assets into AO, including rewards for users depositing assets like DAI and stETH into the AO ecosystem. Before the launch, over $700 million had been pre-bridged to the AO testnet.
Arweave launched the public testnet of AO in February 2024. By June, AO announced its native token AO, along with token economics and reward mechanisms. The main function of the AO token is to protect messaging within the network through system incentive proofs.
Berachain Foundation: The second part of the airdrop will be distributed to wallets on February 10
The Berachain Foundation tweeted that the second part of the Berachain airdrop will be distributed to wallets on February 10. Top X yapper and Discord users (Berachain + Bong Bear NFT server). The participation index using KaitoAI and Cookie3 data is used to identify Yappers.
Recipients of the RFB plan (applications and communities). Over 200 ecosystem projects and community members have received tokens through the foundation's RFB plan. dApps must allocate 70% of their distribution for future mainnet rewards and liquidity incentives. Airdrop recipients must register their wallets by 11:59 PM EST on February 9 to receive their allocated tokens. Tokens will be claimable on February 10.
Market news: Pump.fun is planning to issue tokens using a Dutch auction model
Crypto KOL He Bi (@hebi555) tweeted that Pump.fun is planning to issue tokens and conduct a public offering using a Dutch auction model, currently collaborating with major centralized exchanges to develop the public offering program. Pump.fun is facing a class action lawsuit in the U.S., with speculation that it may have some impact on the token issuance.
Indian crypto exchange WazirX releases creditor list and balance snapshot
Indian crypto exchange WazirX tweeted that it has released a preliminary creditor list and a balance snapshot page as of July 18 within the WazirX app to ensure complete transparency in the restructuring process.
Creditors can query their claim amounts (in USD) through a unique UUID, with the list sorted in descending order by claim value, searchable using the UUID. A "Find My Balance" option is also provided for easy access. Creditors can view claims information of other creditors by submitting a check request (using UUID instead of personal identification). Creditors can view the balance snapshot as of 1:00 PM IST on July 18, 2024, including token balances and subsequent deposits.
Opinions
CZ: Never purchased or owned TST, which has unauthorized use of the Binance logo
CZ tweeted that TST has a website and X account, neither of which are created or controlled by the BNB Chain or any Binance-related team, but are controlled by community members, whose specific identities are unclear. They have used the Binance logo without authorization, which constitutes infringement and needs to be changed. It is suggested to use a label like "powered by Test." Like all meme coins, he has never purchased or owned TST, which is currently fully operated by the community.
CZ reiterates that he is not associated with the TST token
In response to a tweet about "BNB clearly being one of the strongest assets in the current market. CZ has always been a builder, and he is about to make BNBCHAIN great again," CZ stated, "It's not just me, but also my community. The TST token has nothing to do with me."
This morning's news, CZ claims he has never purchased or owned TST, which has unauthorized use of the Binance logo.
Important Data
NFT trading volume decreased by 33% to $119.5 million in the past 7 days
CryptoSlam data shows that the NFT market has cooled this week, with total trading volume dropping from $137.9 million to $119.5 million, a decrease of 33% from the previous week.
The Ethereum network saw a 38.43% decline, but still maintained the top position with a trading volume of $62.6 million, while the number of buyers fell by 71.26% to 16,852. Mythos Chain rose to second place with a trading volume of $13.9 million, an increase of 4.66%. Solana ranked third with a trading volume of $11 million, down 32.56%.
Despite a 37.55% drop to $9.1 million, Fat Penguins remains in the lead. The series has stable buyer interest, with 172 participants. DMarket ranked second with a trading volume of $8.7 million, up 7.98%, maintaining a high number of transactions at 322,241. Courtyard held third place with a trading volume of $7.3 million, an increase of 25.78%, attracting 10,935 buyers. CryptoPunks fell to fourth place with a trading volume of $5.2 million, down 30.01%, while Azuki dropped to fifth place with a trading volume of $5 million, down 79.17%.
Notable transactions this week include:
- CryptoPunks #8868: $558,008 (206 ETH)
- Autoglyphs #320: $309,450 (100 WETH)
- Autoglyphs #491: $267,998 (100 WETH)
- CryptoPunks #7585: $242,639 (85 ETH)
- Autoglyphs #331: $235,343 (87.0107 WETH)
On-chain analyst Yu Jin monitored that the Ethereum Foundation transferred 50,000 ETH ($131.66 million) to a multi-signature wallet for DeFi participation 3 hours ago.
After Trump launched the Meme coin, over 700 tokens were sent to his wallet
According to FT, in the three weeks following Trump's launch of the Meme coin, over 700 altcoins and junk coins have been sent to Trump's digital wallet. Trump's official wallet contains 736 different memecoins. Nearly 200 of these memecoins are named after Trump or his family, including "OFFICIAL TRUMP" and "OFFICIAL MELANIA," but have no connection to the president.
Among the 192 tokens named after Trump or his family, 167 are altcoins, and 67 use the term "official" in their names. There are 35 tokens that include "Elon" or "Musk" in their names, clearly referring to the Tesla CEO and Trump's ally. Unauthorized tokens also target Trump's children: 30 mention Barron, 26 mention Ivanka, and 10 mention Eric. Eswar Prasad, a senior fellow at the Brookings Institution, stated that Trump's involvement in meme coins "opens the floodgates to deception and rampant speculation," and that ordinary investors buying meme coins "will only face enormous risks."
On-chain analyst @ai_9684xtpa monitored that an Ethereum whale is suspected of selling 8,139 ETH, valued at $21.18 million, accumulated two years ago. This address withdrew 13,459 ETH from Binance and FTX between August 2021 and December 2022, at an average price of $1,358; if sold now, it would profit $10.125 million.
A whale that previously profited over $150,000 from trading TST bought 4.81 million TST
According to Onchain Lens monitoring, a whale spent 1.94 million USDT to purchase 4.81 million TST. Previously, this whale spent 49,900 USDC to buy 5.31 million TST and sold it for $205,000, making a profit of $155,000.
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