Crypto Morning Post 2.13| Coinbase's financial report hits rock bottom| Gold and Silver Epic Flash Crash| ⚠️ Upbit suddenly removes FLOW TL; DR (too long to read): Macro and Major Collapse: US stocks fell across the board, spot silver fell more than 10% in a single day, gold fell below $4900, and safe haven assets became invalid. Coinbase's performance hit rock bottom: Q4 unexpected net loss exceeded $600 million, retail trading revenue halved, indicating low market activity. Institutional expectations lowered: Standard Chartered Bank cuts its 2026 BTC target price from 150000 to 100000 US dollars and warns of short-term downside risks. Risk of counterfeit currency: Upbit, the largest exchange in South Korea, announced the delisting of FLOW, causing a 15% drop in cryptocurrency prices. The main text is as follows: Crypto Breakfast | February 13th 1. The three major indexes of the US stock market collectively closed down, with the Dow Jones Industrial Average falling 1.34%, the S&P 500 index falling 1.57%, and the Nasdaq falling 2.03%. 2. Spot gold experienced a sharp decline during trading, hitting a low of 4878.37 and ultimately closing down 3.17% at $4922.8 per ounce; Spot silver fell even more sharply, briefly breaking below $75 per ounce in late trading and ultimately closing down 10.64% at $75.26 per ounce. Trump: The United States' must 'reach an agreement with Iran, otherwise the situation will be' very serious'. Israeli Prime Minister Netanyahu said that Trump may reach a good deal with Iran. Anthropic has completed a $30 billion financing, with a company valuation of $380 billion. 5. Zhipu released the GLM-5 model, and orders were instantly received. Currently, it supports Pro and Max subscription packages. 6. Coinbase announced unexpected Q4 loss: trading revenue fell sharply to $982.7 million, consumer trading revenue fell more than 45% year-on-year, and recorded a net loss of $666.7 million (analysts expected profit). Standard Chartered Bank has lowered its BTC price target for 2026 from $150000 to $100000 and warned that it may first drop to $50000. 8. Pendle: The PENDLE repurchase was initiated on February 9th, and the first batch of proceeds will be distributed on February 13th (time weighted). nine http://Pump.fun Announced the launch of GitHub creator fee sharing feature, users can now access it through http://Pump.fun Mobile applications allocate creator fees to any GitHub account. 10. BubbleMaps revealed that Perp DEX Trove has quietly completed refunds for KOLs participating in pre-sales, and the remaining pre-sale participants have suffered heavy losses. Coinbase will launch spot trading for Aztec (AZTEC) and Espresso (ESP). Upbit will be delisted from FLOW spot trading on March 16, 2026 at 3:00 PM (Korean Standard Time). FLOW has fallen by over 15%. OKX Ventures strategically invests in STBL, which will develop RWA supported stablecoins on X Layer. OKX will launch CC (Canton) and open trading at 18:00 today. Bitcoin Market Analysis: Two days ago, the net outflow of Bitcoin spot ETF was $276.3 million, and the net outflow of Ethereum ETF was $129.1 million. The net inflow ETF that has been maintained for three days has now turned into outflow, but trading platforms are gradually buying. Binance bought $1 billion, Coinbase bought $35 million in Bitcoin, and will continue to buy in the future. Last night's decline in the US stock market also affected the trend of Bitcoin, but it is not a big problem. Bitcoin has fallen slightly and is currently hovering around 66000. At the 4-hour level, it's not very optimistic. It depends on whether we can hold on to the Spring Festival. If we can't hold on, it will continue to decline in the future. [Risk Reminder] Digital assets have significant fluctuations and extremely high risks. Please participate with caution, avoid full positions, and refuse loan leverage;