News
A U.S. judge granted the SEC's request to compel Ripple to disclose its 2022-2023 financial records and contracts related to institutional XRP sales, which Ripple contested. Previously, the judge had classified these institutional sales as securities transactions. Link
Ark Invest CEO Cathie Wood stated Bitcoin is increasingly substituting gold as a store of value, serving as a safe-haven and preferred asset during economic uncertainty. This trend is likely to persist due to the convenience of purchasing Bitcoin through ETFs. Link
South Korean prosecutors have arrested three Haru Invest executives for allegedly embezzling $826 million in cryptocurrency from around 16,000 users. Haru Invest advertises yields of up to 12%. Link
SoSoValue reported a net inflow of $68.11 million for Bitcoin spot ETFs on February 5, marking the seventh straight day of inflows. Grayscale's GBTC ETF experienced a net outflow of $107 million, while the other nine ETFs, excluding Grayscale, saw a combined net inflow of $175 million. Notably, BlackRock's IBIT ETF recorded a net inflow of $137 million in a single day. Link
MetaMask and Robinhood Connect have partnered to simplify Web3 access by enabling users to buy cryptocurrency via Robinhood's low-cost order engine, promoting Web3 adoption with a secure, user-friendly and self-custodial method. Link
Projects
$DYM - Started trading on exchanges at 15:00 UTC today. It failed to reach consensus on Mainnet due to 35% of staked DYM being delegated to a single validator. Link
$SOL - Block explorers Solscan and OKLink indicated a Solana blockchain outage, with transactions halting at 17:52 UTC+8. It has since been restarted having experienced a total outage of 4 hours and 46 minutes. Link
EigenLayer - TVL is up ~80% following the cap raise yesterday. Link
Disclaimer: This research report is exactly that — a research report. It is not intended to serve as financial advice, nor should you blindly assume that any of the information is accurate without confirming through your own research. Bitcoin, cryptocurrencies, and other digital assets are incredibly risky and nothing in this report should be considered an endorsement to buy or sell any asset. Never invest more than you are willing to lose and understand the risk that you are taking. Do your own research. All information in this report is for educational purposes only and should not be the basis for any investment decisions that you make.