Huang Licheng's ETH long positions were completely liquidated before he opened new ETH long positions, resulting in a total loss exceeding $25.88 million.

According to Onchain Lens monitoring, as the market declined, Huang Licheng (@machibigbrother)'s ETH 25x leveraged long position was completely liquidated, but Machi immediately opened another ETH 25x leveraged long position. Machi's cumulative losses have now exceeded $25.88 million.

Two whale addresses saw a combined liquidation of $146 million, accounting for 8.4% of the total liquidation value in the past 24 hours.

According to on-chain analyst @ai_9684xtpa, as BTC plunged to $81,118 and ETH plunged to $2,689, two major whales were liquidated. Hyperliquid's ETH long positions were liquidated, worth $65.14 million. HTX's BTC long positions were liquidated, worth $80.58 million. The two addresses collectively liquidated $146 million, accounting for 8.4% of the total liquidated value in the past 24 hours.

TH fell below $2,700, down 4.46% on the day.

According to OKX market data, ETH has just fallen below $2,700 and is currently trading at $2,698.53 per coin, down 4.46% on the day.

BTC fell below $82,000, down 3.53% on the day.

According to OKX market data, BTC has just fallen below $82,000 and is currently trading at $81,951.60 per coin, down 3.53% on the day.

The US government seized over $400 million in assets related to the dark web cryptocurrency mixing service Helix.

According to a statement from the U.S. Department of Justice, the U.S. government has obtained final ownership of over $400 million in assets related to the operations of the darknet cryptocurrency mixing service Helix, including seized cryptocurrency, real estate, and monetary assets. This action involves assets previously seized from Helix operator Larry Dean Harmon. Court documents show that Helix handled at least approximately 354,000 bitcoins (worth about $300 million at the time) between 2014 and 2017, primarily for money laundering for the darknet drug market. Harmon pleaded guilty to conspiracy to launder money in August 2021 and was sentenced to 36 months in prison and forfeiture of property in November 2024. On January 21, 2026, a judge in the U.S. District Court for the District of Columbia signed the final forfeiture order.

MegaETH has outlined four key performance indicators (KPIs) that will determine the 53% MEGA token supply release plan.

According to The Block, Ethereum's Layer 2 network MegaETH has clarified its MEGA token release rules: 53% of the supply (5.3 billion tokens) will be released based on the achievement of four key performance indicators (KPIs) of the protocol, rather than on a fixed schedule. These four KPIs are: 1. Ecosystem Growth: Measured by the total value locked in MegaETH and the supply of the USDM stablecoin. 2. MegaETH Decentralization: Following the L2 standardization "phases" model proposed by Ethereum founder Vitalik Buterin. 3. Performance Improvement: Increasing network bandwidth and reducing latency. 4. Ethereum Ecosystem Decentralization: Including external milestones such as Ethereum's private transaction flow, client diversity, and the degree of centralization in block building. Co-founder Namik Muduroglu stated that tokens will be rewarded to holders who choose to stake MEGA. This means that token unlocking is linked to the success of the protocol, not time. If the KPIs are not met, the relevant tokens will remain locked, and their future use may be determined by a vote. Previously, it was reported that the MegaETH public mainnet would launch on February 9th. It is understood that the total supply of its tokens is 10 billion. Apart from 53% used for KPI rewards, the rest is allocated to the public sale (15%), venture capital (14.7%), team/advisors (9.5%) and foundation (7.5%).

The US SEC chairman has withdrawn his previous timeline that the "crypto innovation exemption" would be released this month.

According to Decrypt, U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins has reversed his previous timeline for the "crypto innovation exemption" to be released this month, and when asked about the timing, refused to commit to releasing the final rule this month or even next month. He stated that the SEC is still studying the details and is taking a cautious approach, emphasizing that the progress of the crypto market structure bill currently under consideration by Congress could also affect the timing of the exemption rule's release. These proposed exemption rules aim to provide assurances to companies in specific crypto sectors such as tokenized securities and DeFi, protecting their activities from SEC enforcement action. Atkins had expressed hope in December that the rule could be released in January, but changed his tone at an event co-hosted with the CFTC this Thursday, saying that "we need to think carefully" and hoping to see clear direction from Congress.

AC's new project, Flying Tulip, has raised a total of $225.5 million in institutional funding to date.

According to The Block, Flying Tulip, a unified on-chain financial system founded by Andre Cronje, founder of Sonic Labs, announced that it has completed a total institutional funding round of $225.5 million to date, at the same fully diluted valuation of $1 billion as its seed round. This funding includes a $25.5 million Series A private token financing round through Amber Group, Fasanara Digital, and Paper Ventures, as well as a $200 million seed round completed last September. In addition to institutional funding, Flying Tulip also raised $50 million through Impossible Finance's Curated platform and plans to launch another public sale on CoinList next week. The project team stated that it has received approximately $1.36 billion in investment intentions to date, and if the existing allocation is fully filled, the remaining funding amount will be approximately $400 million. Previously, it was reported yesterday that CoinList would launch the public sale of its new AC project, FlyingTulip (FT), on February 3rd.

The Central Bank of Kazakhstan plans to use cryptocurrencies seized from criminals to expand the country's cryptocurrency reserves.

According to DL News, the National Bank of Kazakhstan's investment subsidiary, NIC, announced that it will use cryptocurrencies seized from criminals by law enforcement, along with foreign currency and gold reserves, to expand its newly established national cryptocurrency reserve fund. Timur Suleimenov, head of the company, stated that $350 million worth of foreign exchange and gold has been allocated as initial capital to the fund. The central bank currently does not plan to directly hold cryptocurrencies, but will instead invest through five selected hedge funds and in cryptocurrency venture capital funds. President Tokayev stated at a national meeting of financial regulators that police have shut down 130 illegal cryptocurrency exchanges, seizing assets worth over $5 million, and instructed agencies to develop specific proposals to combat cryptocurrency crime.

Trend Research withdrew 109 million USDT from Binance in the past 9 hours and deposited them into Aave to reduce liquidation risk.

According to on-chain analyst @ai_9684xtpa, Trend Research withdrew a total of 109 million USDT from Binance in the past 9 hours, including 80 million USDT deposited into Binance on January 28. These funds have now been deposited into Aave to reduce the risk of liquidation. Its 661,272.65 ETH holdings are currently showing a floating loss of $192 million (cost of approximately $3,104.36).

The contract account of the "$230 million long whale" has begun to lose money, with its long positions currently showing a floating loss of $83.57 million.

According to on-chain analyst Yu Jin, as ETH fell to $2,800, the Hyperliquid account of a "$230 million long whale" went from a profit of $142 million two weeks ago to zero and is now in the red. His current long positions have a floating loss of $83.57 million, primarily in ETH, with a liquidation price of $2,280, $534 from the current price: 212,000 ETH ($596 million) long, opening price $3,149, floating loss $73.84 million, liquidation price $2,280; 511,000 SOL ($60.01 million) long, opening price $130.1, floating loss $6.5 million; 572 BTC ($48.26 million) long, opening price $91,506, floating loss $4.14 million.

The chairman of the US CFTC stated that the agency will develop new rules for prediction markets.

According to Bloomberg, Michael Selig, chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated that the agency will develop new rules for the prediction market industry, while withdrawing a 2024 proposal to ban sports and political prediction contracts, as well as a 2025 staff-issued warning document regarding sports-related contracts. Selig emphasized that the CFTC will support legitimate innovation in the market and reaffirm its exclusive jurisdiction over commodity derivatives. Selig also stated that the CFTC will work with the Securities and Exchange Commission (SEC) to develop cryptocurrency rules, while also supporting the digital asset legislation currently being pursued by Congress. He noted that while regulators can issue rules, formal legislation remains necessary.

The U.S. crypto market structure bill passed key Senate procedures despite opposition from Democrats.

According to CoinDesk, the U.S. Senate Agriculture Committee formally advanced the legislative process of the Cryptocurrency Market Structure Act with a 12-11 partisan vote. This marks the first progress the bill has made at the Senate committee level, signifying a new stage in its development. However, due to the entirely partisan voting and the lack of Democratic support, the bill still faces significant obstacles to unanimous Senate passage. Committee Chairman John Boozman, a Republican, stated that significant progress has been made after months of negotiations, and it is time to move forward. However, Democratic chief negotiator Corey Booker criticized the Republicans for withdrawing from negotiations and accused President Trump and his family of profiting from the crypto industry while attempting to push for a regulatory framework lacking ethical constraints. Democrats on the committee unanimously opposed the current version but expressed their willingness to continue negotiations to reach a bipartisan consensus. The bill still needs to pass the Senate Banking Committee, whose version has been slow to progress due to more controversial provisions involving stablecoin yields. The White House plans to convene again next week to coordinate positions among the crypto industry, the banking sector, both parties, and the government. If the bill ultimately passes the Senate, it will be integrated with the version that has already passed the House by a large margin before being submitted to the President for signature into law. Analysis indicates that the legislative window is narrowing as the midterm elections approach.

Trump said he will announce the nominee for Federal Reserve Chair tonight Beijing time.

According to Jinshi News, US President Trump said he will announce the nominee for Federal Reserve Chair tomorrow morning (tonight Beijing time).

Ethereum developer Griff Green will use unclaimed funds from The DAO hack to establish a new security fund.

According to The Block, early Ethereum developer Griff Green announced the launch of "The DAO Security Fund," a new security fund utilizing unclaimed funds from the 2016 "The DAO" hack. These funds, initially reserved for victims of exceptional circumstances and representing approximately 20% of the total, are now worth about $200 million. The fund will hold approximately 70,500 ETH (from the ExtraBalance withdrawal contract) and approximately 4,600 ETH worth of DAO tokens (from The DAO Curator Multisig), and will be supported by staking rewards. The funds will be used to support the Ethereum security ecosystem, and the funding mechanism will adopt a grassroots-oriented model, including quadratic funding and retroactive grants. The Ethereum Foundation's Grants Management team will be responsible for eligibility verification for each round of funding. This initiative is considered part of the Ethereum Foundation's "trillion-dollar security plan."

A whale once again purchased 20,000 ETH from FalconX, spending $56.03 million.

According to Onchain Lens monitoring, whale "0xFB7" further purchased 20,000 ETH from FalconX, spending $56.03 million. This brings its total holdings to 110,154 ETH, with a staked value of $311.26 million.

SpaceX is reportedly considering merging with Tesla or AI.

According to Jinshi News, previous reports suggested that SpaceX and xAI might consider a merger, but the latest reports indicate that SpaceX is considering two options. Sources familiar with the matter revealed that SpaceX is also considering a merger with Tesla. This suggests that Musk is weighing how to consolidate his business empire. Sources said the company has explored the feasibility of a SpaceX-Tesla partnership, and some investors are pushing the idea. Other sources indicated that SpaceX is also exploring a merger with xAI prior to its IPO. Sources revealed that any deal could attract significant interest from infrastructure funds and Middle Eastern sovereign wealth funds. The deal may also require substantial financing. Sources stated that SpaceX has not yet made a final decision, details may change, and the companies may decide to continue operating independently. Tesla's stock price surged as much as 4.5% in after-hours trading on Thursday.

Bitmine has staked another 314,500 ETH, bringing its total staked value to $7.98 billion.

According to Onchain Lens monitoring, Bitmine has staked an additional 314,496 ETH, worth $887 million. To date, they have staked a total of 2,831,392 ETH, with a total value of $7.98 billion.

Trump: I will nominate a new Fed chair next week; interest rates should be 2 to 3 percentage points lower.

According to Jinshi News, US President Trump stated that he plans to announce his successor to Federal Reserve Chairman Jerome Powell next week, ending weeks of speculation about who will take over the position. Powell's term ends in May 2026. Trump also indicated that interest rates should be 2 to 3 percentage points lower.

Trump declared a national emergency and imposed tariffs on countries supplying oil to Cuba.

According to Jinshi News, the White House stated that Trump signed an executive order declaring a national emergency and establishing a process to impose tariffs on goods from countries that sell or otherwise supply oil to Cuba. Following Trump's announcement of trade threats related to Cuba, spot gold broke through $5430 per ounce, rising 1.17% on the day.

US media: Trump and Democrats reach agreement on funding issues to avoid government shutdown

According to a report by NBC News cited by Jinshi, five sources familiar with the matter revealed that US President Trump and Senate Democrats reached an agreement on Thursday to avoid a prolonged shutdown of most departments of the federal government. This move aims to ease the fierce battle surrounding the Department of Homeland Security and Immigration and Customs Enforcement (ICE). This funding dispute reached a fever pitch after two US citizens were shot and killed by law enforcement officers in Minneapolis. Although funding for several agencies will be temporarily suspended starting at 00:01 local time on Saturday, the impact is expected to be minimal, as most federal employees do not work over the weekend. The Senate may vote on the appropriations agreement as early as Thursday evening. The House of Representatives will return to Washington on Monday, where it will need to pass the bill and send it to President Trump for his signature.

The US Senate failed to advance an appropriations bill, and the federal government is once again facing a shutdown crisis.

According to Xinhua News Agency, the U.S. Senate failed to advance the government funding bill, which had already passed the House of Representatives, in a procedural vote on the 29th, putting the U.S. federal government at risk of a partial shutdown again. The Senate voted 55-45, failing to reach the 60 votes needed for the bill to advance. All Democratic senators voted against the bill, as did several Republican senators. Funding for several federal departments will run out on January 30th. Currently, lawmakers from both parties are still engaged in tense negotiations to avoid a shutdown. Senate Majority Leader John Thune previously stated that he was considering potentially separating funding for the Department of Homeland Security from the appropriations bill for separate discussion. Earlier this month, law enforcement officers from a Department of Homeland Security agency shot and killed two U.S. citizens during an operation targeting undocumented immigrants in Minneapolis, Minnesota. Senate Democrats subsequently indicated they would vote against the government funding bill that included funding for the Department of Homeland Security.

Crypto custody company Copper is considering an IPO, with Goldman Sachs, Citigroup, and others potentially participating.

According to CoinDesk, London-based crypto custody company Copper is in early discussions evaluating a potential initial public offering (IPO). Sources indicate that Goldman Sachs, Citi, and Deutsche Bank may be involved in the listing plans. Copper's final decision will depend on recent revenue performance, and a spokesperson stated that the company currently has no plans for an IPO but did not deny that discussions are underway. If the listing is successful, Copper will become the second crypto infrastructure company to enter the public market, following its competitor BitGo. BitGo listed on the New York Stock Exchange last week at $18 per share, with an initial market capitalization of approximately $2 billion. Previously, Copper's founders launched Bron Labs, focusing on digital asset security, raising $15 million in early funding. BitGo's stock rose approximately 20% on its first day of trading on the NYSE, reaching a peak valuation of $2.6 billion.

The "1011 Insider Whale" lost approximately $53 million in two hours.

According to Ai Yi, the "insider who opened short positions after the 1011 flash crash" has accumulated a floating loss of up to $84 million on its current long positions worth $704 million after adding to its positions on January 28. In just the past two hours alone, it has lost about $53 million.

Iran reportedly to conduct live-fire military exercises in the Strait of Hormuz

According to CCTV, Iran issued a VHF radio notice to passing ships on the same day, announcing that it will hold military exercises in the Strait of Hormuz from February 1st to 2nd, including live-fire drills. It is understood that this exercise may affect shipping activities through the Strait of Hormuz. Currently, Iranian officials have not made any public statement regarding the specific scale and arrangements of the exercises.

As the market crashed, Huang Licheng lost $2 million in a single day.

According to Lookonchain, as the market plummeted, Huang Licheng (Machi, @machibigbrother) lost another $2 million in a single day. Despite continuously injecting funds into the HyperLiquid platform, the losses continued to widen.

Spot gold nearly fell below $5,100, while silver fell nearly 9% intraday.

Spot gold continued its decline, nearly breaking below the $5,100/ounce mark, with a daily drop of 5.5%; spot silver once fell below $107/ounce, with a daily drop of 8.81%.

US cryptocurrency stocks collectively declined, with BMNR falling 8.4%.

US cryptocurrency stocks generally declined: BMNR fell 8.4%; MSTR fell 7.6%; CRCL fell 7.33%; SBET fell 5.12%; COIN fell 5.2%; MARA fell 4.77%; and HOOD fell 2%.

Spot gold gave up its intraday gains, briefly falling below $5,300, and is currently down 2.46%.

Spot gold continued its short-term decline, falling below $5,300 per ounce, erasing its intraday gains, and is currently down 2.46%.

Iran: It will not initiate war, but will resolutely retaliate if invaded.

According to CCTV News, on January 29th local time, Iranian First Vice President Aref stated that the current government has maintained a state of combat readiness since taking office. Iran emphasized that it will not initiate war, but if attacked, it will defend itself with a firm stance, stating that "the outcome of the war will not be decided by the enemy." This statement from Iran demonstrates its defensive attitude in the regional situation.

US stocks opened with Meta up 10%, while Microsoft fell more than 9%, marking its biggest intraday drop since 2020.

U.S. stocks opened mixed, with the Dow Jones Industrial Average up 0.14%, the S&P 500 up 0.18%, and the Nasdaq Composite down 0.13%. Meta Platforms (META.O) surged about 10% after its fourth-quarter results, first-quarter guidance, and full-year capital expenditures exceeded market expectations. Microsoft (MSFT.O), on the other hand, saw its stock price fall more than 9%, its biggest intraday drop since 2020, due to market concerns over slowing growth in its cloud business and record-high capital expenditures.

A whale that bought $5.6 million worth of XAUT deposited $3.5 million into Hyperliquid to go long on silver and gold.

According to Lookonchain data, the whale address 0x8709 recently conducted several operations: it used $5.6 million USDC to purchase 1066 XAUT (gold tokens) at a unit price of $5261, then deposited $3.5 million USDC into the Hyperliquid platform to open long positions of 53,528 SILVER (silver contracts) worth $6.48 million and 158.36 GOLD (gold contracts) worth $876,000, while simultaneously shorting 4229 shares of NVDA (worth approximately $809,000).

Cryptocurrency exchange Talos raises $45 million, with Robinhood, a16z, and others participating.

CoinDesk reports that Robinhood participated in Talos's Series B funding round extension, valuing the platform at approximately $1.5 billion. Talos focuses on providing crypto trading infrastructure to global institutions, serving clients with approximately $21 trillion in assets under management. This $45 million extension round also attracted new strategic investors including Sony Innovation Fund, IMC, QCP, and Karatage, while existing investors a16z crypto, BNY, and Fidelity Investments also joined the investment. Robinhood stated that Talos's flexibility and rapid adaptability will further enhance the liquidity and functionality of its crypto business. Previously, Talos announced partnerships with Uniswap Labs and Fireblocks to provide DeFi liquidity to institutional investors.

London copper prices broke through $14,400 per tonne, surging more than 10%.

According to Walter Bloomberg, copper prices on the London Metal Exchange (LME) surged by more than 10%, breaking through $14,400 per tonne and setting a new record high.

A whale that bought ETH at a minimum cost of $9.35 in 2016 is suspected of selling 5,000 ETH, worth approximately $14.7 million.

According to on-chain data from ai_9684xtpa, the address 0x660…7Bf35, suspected to be an ancient ETH whale from 2016, deposited 5,000 ETH into Wintertermute three hours ago, worth approximately $14.7 million, at a cost as low as $9.35. Tracing the source of the funds reveals that this address is related to two main sources: 1️⃣ Address 0xDA2…80100 withdrew 10,600 ETH from Gatecoin 10 years ago at a cost of only $99,000; 2️⃣ Address 0x132…38378 withdrew 18,049.96 ETH from Kraken 9 years ago at a price as low as $86.

The number of initial jobless claims in the U.S. for the week ending January 24 was slightly higher than expected.

The number of Americans filing for unemployment benefits for the week ending January 24 was 209,000, compared with an expected 205,000 and a revised 210,000 for the previous week.

ALT5 Sigma announced a $100 million stock buyback program and has signed a $15 million loan agreement with WLFI.

ALT5 Sigma Corporation (NASDAQ: ALTS) announced that its board of directors has approved a stock repurchase program of up to $100 million, authorizing the repurchase of up to 50 million shares, representing 40% of its outstanding shares. In addition, the company plans to further acquire $WLFI tokens through a strong balance sheet and a strategic partnership with World Liberty Financial (WLFI). Currently, ALT5 holds approximately 7.3 billion $WLFI tokens, valued at approximately $1.5 billion, and plans to leverage market conditions to enhance the token's value and strengthen its asset base. The company has also signed a $15 million loan agreement with WLFI to launch the related programs. CEO Tony Isaac stated that these initiatives will create significant value for shareholders and demonstrate the company's strong confidence in its stock and strategy. Previously, it was reported that ALT5 Sigma, the financial arm of WLFI, had resolved its issue of failing to file financial statements with Nasdaq on time.

Venture capital firm Escape Velocity raises $62 million to focus on investing in DePIN and crypto projects.

According to Fortune, venture capital firm Escape Velocity has completed its second round of fundraising, raising a total of $62 million, primarily to support DePIN (decentralized physical infrastructure) and projects in the broader crypto space. The fund attracted prominent investors including Marc Andreessen and Ribbit Capital founder Micky Malka, with Cendana contributing $15 million as the largest contributor. Escape Velocity co-founder Mahesh Ramakrishnan stated that despite the current market downturn in the DePIN space, he believes decentralized physical infrastructure will see a breakthrough. The firm has previously invested in DePIN projects such as Daylight and Glow in the solar energy sector and plans to continue seeking high-quality projects that transcend market hype.

Trump on the Federal Reserve: We deserve the lowest interest rates in the world

In his latest remarks, Trump again criticized Federal Reserve Chairman Jerome Powell, saying his refusal to cut interest rates was unjustified and that high interest rates were harming the U.S. economy and national security, resulting in hundreds of billions of dollars in unnecessary interest payments annually. Trump stated that inflation is no longer a threat and that the U.S. should enjoy the lowest interest rates globally thanks to the economic strength gained from tariff policies. He emphasized that the Federal Reserve should immediately and significantly cut interest rates to further strengthen the nation's economic competitiveness and reiterated his dissatisfaction with Powell.

Sources familiar with the matter: Alibaba is considering increasing its investment in AI infrastructure and cloud computing to 480 billion yuan within three years.

According to LatePost, an insider revealed that Alibaba is considering increasing its investment in AI infrastructure and cloud computing from 380 billion yuan to 480 billion yuan over the next three years. Alibaba is developing its own chip, the Zhenwu 810E, domestically and procuring large quantities of GPU resources overseas; even consumer-grade RTX 4090 graphics cards are being used to build inference clusters.

Agent of "1011 Insider Whale": Multiple structural factors have prevented ETH and BTC from rising along with other risk assets.

Garrett Jin, an agent for the "1011 Insider Whale," stated on the X platform that multiple structural factors have prevented ETH and BTC from rising along with other risky assets. The main reasons are believed to be trading cycles, market microstructure, and market manipulation by some exchanges, market makers, or speculative funds. Regarding the market background, the deleveraging decline that began in October has caused significant losses for leveraged participants, especially retail investors. From a time perspective, although BTC and ETH have underperformed over the past three years, they have still outperformed most assets over a six-year period; short-term underperformance can be seen as mean reversion over a long-term cycle. As long as the narratives of BTC as "digital gold" and ETH as a core component of AI and RWA infrastructure remain valid, there is no basis for their long-term underperformance. Currently, the trading volume of BTC and ETH futures is near historical lows, indicating that the deleveraging process is nearing its end. Labeling BTC and ETH as purely risky assets is one-sided. BTC and ETH also have safe-haven attributes. The real reason for their poor performance lies within the crypto market itself: the market is in the late stages of a deleveraging cycle, and participants are highly sensitive to downside risks; the market is dominated by retail investors, with institutional participation being passive; speculative funds take advantage of the high leverage of retail investors and the market's microstructure to create volatility through concentrated selling during periods of low liquidity, thereby triggering a chain of liquidations.

Binance Alpha will be available on Kindred Labs (KIN) on January 30th.

According to Binance Wallet, Binance Alpha will list Kindred Labs (KIN) on January 30th (Beijing time). Eligible users can claim airdrop rewards using Binance Alpha Points through the Alpha Events page after trading begins.

The Hyperliquid team wallet has unlocked 140,400 HYPE, which will be distributed on February 6th.

According to Mlm onchain monitoring, the Hyperliquid team wallet has just unlocked 140,400 HYPE tokens (worth $4.7 million). According to a previous official announcement, these tokens will begin to be distributed on February 6th.

Moonbirds is now accepting $birb claims, and Nesting 2.0 is live.

Moonbirds has announced that it has opened the $birb claim page, and the Nesting 2.0 feature is now live.

Iran launches five missile strikes against Israel

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