Organizer: Cora, Techub News
**TinTinLand
**
Fear and Greed Index: 18 (Extreme Greed)
Bitcoin Price: $77,219
BTC/ETH Spot ETF Fund Flow (Last Week)
BTC Net Outflow: $1.49 B
ETH Net Outflow: $326.93 M
Hong Kong
BTC/ETH Spot ETF Fund Flow (Last Week)
BTC Net Subscription/Redemption: 0 BTC
ETH Net Subscription/Redemption: 0 ETH
The Hang Seng Gold ETF has been listed on the Hong Kong Stock Exchange, becoming the first physical gold ETF in Hong Kong that allows individual investors to redeem directly from banks. Xu Zhengyu, Secretary for Financial Services and the Treasury of Hong Kong, revealed at the 19th Asian Financial Forum (AFF) held in Hong Kong that in addition to providing options for redeeming physical gold at banks, the Hang Seng Gold ETF plans to distribute through licensed digital asset trading platforms. Li Peishan, Executive Director and CEO of Hang Seng Investment Management, pointed out that the tokenized non-listed category of the Hang Seng Gold ETF is currently in the final testing phase and is expected to launch in the first quarter of 2026. The tokenized category will also be open to retail investors, with expected lower entry fees. Currently, only USD-denominated shares are arranged, but this category will not have a physical gold redemption option.
Consensus Hong Kong 2026 Surrounding Events Guide
Consensus Hong Kong 2026, hosted by CoinDesk, will be held from February 10 to 12 at the Hong Kong Convention and Exhibition Centre.
Regulatory/Macro
U.S. Democrats Say They Will Not Help Republicans Pass Funding Plan Quickly
U.S. House Democratic leader Hakeem Jeffries stated that they will not assist Republicans in passing the federal government funding plan quickly. U.S. media pointed out that Jeffries' statement implies that the U.S. government shutdown may last longer than expected. The U.S. Senate passed a funding bill for several federal departments for the remainder of the fiscal year on January 30, which will be sent to the House for consideration. However, the House is currently in recess and may vote on the funding bill as early as February 2. It is reported that the operating funds for several federal departments, including the State Department and the Pentagon, were exhausted as of January 30, leading to a partial "shutdown" of the U.S. federal government starting at midnight on January 31.
A 46-year-old Chinese man from Beijing, Su Jingliang, was sentenced to 46 months in prison for participating in a "pig butchering" scam that laundered over $36.9 million (approximately 256 million RMB). He was also ordered to pay up to $26.87 million (approximately 187 million RMB) in compensation. The U.S. previously dismantled a multinational fraud and money laundering ring that built trust with victims through social media or dating apps, subsequently guiding them to fake cryptocurrency trading platforms for so-called "investments." Funds from 174 U.S. victims flowed into accounts of 74 shell companies registered in the U.S., and once the funds were received, they were converted into USDT.
Tennessee Lawmaker Proposes Bill to Establish "Tennessee Strategic Bitcoin Reserve"
Tennessee lawmaker Jody Barrett has proposed a bill aimed at creating a "Tennessee Strategic Bitcoin Reserve."
Project/Company Updates
A senior member of the UAE royal family has secretly purchased a 49% stake in Trump’s cryptocurrency project World Liberty Financial for $500 million.
Step Finance Hacked, Approximately $30 Million in SOL Stolen
Multiple treasury and fee wallets of Step Finance were hacked, resulting in approximately 261,854 SOL tokens being unstaked and transferred, valued at around $30 million.
Insiders: OpenAI and Nvidia's $100 Billion Deal Has Been Put on Hold
Nvidia had originally planned to invest up to $100 billion in OpenAI for training and running the latest AI models. However, this cooperation agreement has recently been put on hold.
Trend Research Adds $109.1 Million Margin Again, Leverage Drops to 2.2 Times
Trend Research withdrew 109.1 million USDT from Binance to repay loans after Ethereum's decline early this morning. This reduced their leveraged purchase of ETH from $1.12 billion to $1.01 billion, with leverage dropping from 2.4 times to 2.2 times. They currently hold a total of 651,500 Ethereum (approximately $1.83 billion).
Ethena Founder: Ethena Has Never Had Any So-Called No ADL Privilege Agreement with Any Exchange
The founder of Ethena clarified in a post that Ethena has never had a special ADL (Automatic Deleveraging) agreement. He stated that ADL risks have always been clearly listed in the risk section of the official documentation. Unlike other platforms, Ethena settles profits and losses daily and employs a zero-leverage strategy, with most funds held in BTC and ETH on platforms with over 8 years of no ADL records.
In-Depth & Outlook
Understanding Premium Rates Will Make You 24 Hours Ahead of ETF Data
Since the approval of BTC and ETH spot ETFs, daily ETF fund inflows and outflows have become a core indicator for many traders. The logic is simple: net inflows represent institutional buying bullish; net outflows represent institutional selling bearish. However, the problem is that the ETF data we see every day is the result from the previous day. By the time the data is released, prices have often already reacted. So, is there any way to predict whether today’s ETF will be net inflow or net outflow? Yes, the answer is the ETF premium rate.
However, the personal views of the Federal Reserve Chair have a significant guiding role on the market and regulatory atmosphere, influencing how regulators view financial innovation and its systemic impacts. For the crypto industry, a Federal Reserve Chair who understands the value of Bitcoin and comes from the intersection of traditional finance and digital assets is undoubtedly a significant incentive signal.
Opinions
Crypto Market Calm Period, Exchanges Have Started Self-Rescue
The non-ferrous metal market shows initial signs of strength in 2025; the beginning of 2026 has entered a "boiling moment" without any warm-up. The prices of the three major precious metals—gold, silver, and platinum—are leading the charge, while heavy metals like copper and aluminum are steadily rising, and rare metals like lithium and tungsten are blooming in multiple areas, creating a spectacular market feast.
In 2023, Jeff Yan Talks About Why He Wants to Create Hyperliquid?
This episode's guest is Jeff Yan, founder of Hyperliquid. Jeff's career began in high-frequency trading at Hudson River, then shifted to the crypto world, where he built one of the largest market makers in the field. He delves into the infrastructure of centralized crypto exchanges, adversarial algorithms, and why HFT (high-frequency trading) profits and losses may actually be predictive of mid-term price trends.
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