Compiled by: Cora, Techub News
TinTinLand
Fear and Greed Index: 14 (Extreme Greed)
Bitcoin Price: $65,907
BTC/ETH Spot ETF Fund Flow (2.27)
BTC Net Inflow: $1.9 M
ETH Net Inflow: 0
Hong Kong
BTC/ETH Spot ETF Fund Flow (2.27)
BTC Net Subscription/Redemption: 0 BTC
ETH Net Subscription: 302.88 ETH
CEO of HKEX, Charles Li, stated that they are researching the creation of a tokenization platform that can support diverse assets, rather than just single tokenized stocks or bonds. Whether and when this can be done depends on whether the technology supports it and whether there is market demand. She emphasized that the exchange hopes to diversify as much as possible, considering different products, but also needs to recognize the competitive landscape, as traditional securities and bonds have very different trading requirements compared to digital assets, and careful consideration will be given.
Derlin Holdings announced that its two RWA tokenization products were approved by the Hong Kong SFC on February 24, involving Derlin Securities' distribution of RWA tokens and Derlin Digital Family Office's tokenization of its fund equity. The two major underlying assets for this token issuance are a limited partnership fund holding Derlin Tower in Central, Hong Kong, and a limited partnership fund investing in Animoca Brands. The group had previously disclosed relevant plans in October 2025.
Regulation/Macroeconomics
Recently, US Federal District Judge Andrew Carter ruled to reject Binance's request to resolve some customer claims through arbitration. The judge determined that users have the right to sue in court for claims arising before February 20, 2019. The reason is that Binance did not adequately inform users when modifying the terms of use to include arbitration requirements and waive collective litigation rights, with no evidence showing that Binance issued an "announcement" or provided explicit means for inquiries. The judge found the class action waiver clause in Binance's 2019 terms of use ambiguous and unenforceable. In response to the ruling, a Binance spokesperson stated that they would vigorously defend the remaining limited claims and described the case itself as "baseless."
In 2022, the Gangnam Police Station in Seoul failed to comply with the virtual asset confiscation storage policy established in 2021, improperly storing bitcoins, resulting in the loss of 22 bitcoins. At that time, it was discovered that the Gangnam Police Station had stored these bitcoins in a third-party cryptocurrency wallet not owned by the police and even entrusted the mnemonic phrases required to access the wallet to that third party. It took four years for the Gyeonggi North Police Agency to uncover this theft case and announced the arrest of two men in their 40s on the 25th.
Starting from the new tax year on April 6, UK investors will no longer be able to add cryptocurrency exchange-traded notes (ETNs) to their tax-free personal savings accounts (ISAs). The UK's tax agency, HM Revenue and Customs (HMRC), has classified crypto ETNs as an asset class only applicable to "Innovative Finance ISAs" and not as qualifying instruments for mainstream stocks and shares ISAs. HMRC stated that investors already holding crypto ETNs in ISA accounts are not required to sell them forcibly.
Projects/Company Updates
Chainalysis released its annual report showing that the total number of data breaches in 2025 approached 8000, a 50% increase compared to 2024. However, the total on-chain ransom amount was $820 million, down 8% from 2024. Chainalysis stated that increased regulatory scrutiny, enforcement actions against money laundering network infrastructures, and the general refusal of large companies or organizations to pay ransoms led to a decrease in overall ransom payments in 2025, prompting attackers to target smaller victims instead.
The XRP Ledger Foundation has confirmed the fix for a serious vulnerability discovered in a revision of Ripple's XRP Ledger that has not yet been activated, preventing a potential significant attack.
The cryptocurrency wallet Holdstation suffered a supply chain attack, where the attacker stole developer session tokens, bypassed two-factor authentication, injected malicious code in app updates, resulting in stolen user funds. The attack caused a loss of 462,000 USDT. The Holdstation team has suspended services, committed to compensating affected users 100%, and is working with a security team to investigate the incident, while also issuing messages on-chain, hoping to incentivize the attacker to return the funds through a bug bounty program.
Japan's financial group SBI Holdings is collaborating with Startale Group to launch the yen stablecoin JPYSC. It is reported that JPYSC is Japan's first trust bank-backed stablecoin, issued and managed under trust by SBI Shinsei Trust Bank, with SBI's trading platform SBI VC Trade as the main distribution channel while Startale Group is responsible for technical development. The stablecoin is expected to be launched in the second quarter of this year, pending regulatory approval.
IoTeX has released IIP-56 proposal suggesting the phasing out of CIOTX across all networks (Ethereum, Base, Solana, BSC, Polygon, and IoTeX) and adopting different sunsetting procedures depending on whether each network is affected by a vulnerability attack.
Nisha Surendran, head of Citibank's digital asset custody business, stated at the Strategy-hosted "Strategy World" that the bank plans to launch infrastructure that integrates Bitcoin into the banking system. Nisha stated, "Later this year, Citibank will launch infrastructure that incorporates Bitcoin into traditional finance, starting with core custody safeguards and institutional-grade key management and wallet infrastructure."
After a year of trial, MetaMask is expanding its blockchain-based debit card coverage in the USA and has obtained permission to enter New York State for the first time. This debit card has been co-developed with Mastercard and cryptocurrency payment provider Baanx. The card will start limited promotion among thousands of users in the EU and UK in August 2024, allowing users to spend USDC, USDT, and wETH stored on Linea. The pilot program in the USA will start in December 2024.
The mining company American Bitcoin, supported by the Trump family, reported a loss of $59 million in the last quarter of the previous year. Due to the write-down of the value of the company's Bitcoin reserves, it recorded an unrealized loss of $227 million for that year. Since the peak in September, the company’s stock price has evaporated nearly 90% of its market value.
Nasdaq has submitted a proposal to the SEC to change rules to list the VanEck JitoSOL ETF. Jito Foundation Chairman Brian Smith stated that if approved, staking rewards will not be allocated separately but will be reflected in the net asset value of the fund. Due to JitoSOL's automatic compounding rewards, each token held by the trust will represent the underlying staked SOL and its accumulated staking rewards on Solana.
In-Depth & Outlook
In this crypto winter, the NFT field is undoubtedly a "disaster zone." Trading volume has plummeted, users are lost, and project parties are withdrawing investment, making it seem as though the entire market's development has hit the rewind button. Following the closures of NFT trading platform Nifty Gateway and NFT social platform Rodeo in January, another NFT platform plans to terminate some operations, attempting to seek transformation and survival amid the cold winter.
This article analyzes the natural growth curve, historical lessons from fiat currency collapses, and the risks of Bitcoin’s "second half," discussing its future strategic path. It emphasizes three core issues in Satoshi Nakamoto's design, depicts the timeline for the dollar collapse, and proposes a two-step strategy towards the Bitcoin standard, ultimately pointing towards a decentralized, non-inflationary global monetary system.
In summary, Jin Street has simply been pushed into the spotlight, and the real issues are deeply buried within the underlying architecture of Bitcoin ETFs designed by Wall Street veterans, where no AP is explicitly suppressing Bitcoin's price; rather, what the AP structure can suppress is the integrity of the price discovery mechanism itself, which may have far-reaching effects compared to the former.
This article argues that the fee compression on L1 is permanent and accelerating. It will dissect specific new models that squeeze L1's profit margins at various phases and analyze the impacts of this trend on L1 tokens that still incorporate long-term revenue potential into their valuations.
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