Crypto Morning News: Bitcoin falls below $90,000; Aya Miyaguchi to serve as new Ethereum Foundation chair
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Crypto Morning News: Bitcoin falls below $90,000; Aya Miyaguchi to serve as new Ethereum Foundation chair
Arthur Hayes believes that if Trump's budget proposal is blocked, Bitcoin could pull back to the $70,000 - $75,000 range.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Viewpoint: The recent crypto market plunge may be triggered by theyen strengthening
According to an article by Coindesk analyst Omkar Godbole, amid market expectations of a Bank of Japan rate hike, the yen has appreciated nearly 6% within six weeks.
The market fears this yen strength could replay the situation from last July, when a Bank of Japan rate hike led to a sharp yen appreciation, triggering widespread risk aversion. As a result, Bitcoin's price plunged from around $65,000 to $50,000 within days.
Arthur Hayes: If Trump’s budget proposal stalls, Bitcoin mayretraceto the $70K–$75K range
BitMEX co-founder Arthur Hayes tweeted, “Now we cool off, retrace, and wait. If Trump fails to pass his budget—which increases spending and raises the debt ceiling—the market will resume its decline back to pre-election victory levels, i.e., the $70,000 to $75,000 range. This will be a test of Trump’s control over the Republican Party.”
Aya Miyaguchi to become new Executive Director of Ethereum Foundation
According to official news, Aya Miyaguchi will serve as the new Executive Director of the Ethereum Foundation. She stated her intention to continue nurturing Ethereum’s unique culture and act as a voice bridging Ethereum with the broader global community.
SBF tweets for the first time in two years, discussing company layoffs and management issues
Former FTX CEO Sam Bankman-Fried (SBF) posted on X for the first time after two years of silence. In the thread, SBF primarily discussed company layoffs and management challenges.
Du Jun: A $50 million loss is merely an "entry-level trial cost" in the crypto industry
Du Jun, founder of ABCDE, stated that in the crypto industry, especially for projects involving funds, if one hasn’t experienced a $50 million loss, they might not have even entered the game yet. While $50 million is a large absolute figure, it isn't particularly significant in the crypto space. Looking at industry history—from Mt.Gox, Luna, PayPal, FTX to Bybit last week—every major project has faced losses in the hundreds of millions. In comparison, $50 million amounts to little more than an entry-level trial cost.
Insider: U.S.SEC plans to cut regional executives, preparing for DOGE review
According to Jinshi News, two insiders revealed that the U.S. Securities and Exchange Commission (SEC) plans to replace senior leaders across its regional offices nationwide, as part of cost-cutting proposals submitted to the Trump administration. Sources said that on Friday, the SEC informed directors of its 10 regional offices that their positions would be eliminated under a plan to be submitted next month.
The SEC, which oversees over $100 trillion of U.S. capital markets, is currently under pressure from the Trump administration to downsize and reduce costs. Some government cost-cutting efforts involve the newly formed Department of Government Efficiency (DOGE) and Elon Musk. Agency leaders have been instructed to submit proposals for substantial spending reductions to the government.
SEC confirms acceptance of Grayscale’s spot Cardano ETF application
According to Cointelegraph, the U.S. Securities and Exchange Commission (SEC) has confirmed acceptance of the listing application for Grayscale’s spot Cardano ETF, filed by NYSE Arca on behalf of Grayscale. The application was submitted on February 10 and will have Coinbase Custody Trust Company as custodian, with BNY Mellon providing asset services and administration.
Market news: Nasdaq files 19b-4 application for Grayscale DOT ETF
According to market news, Nasdaq has filed a 19b-4 application for the Grayscale DOT ETF (Grayscale Polkadot Trust).
Trump announces launch of "Gold Card" program, offering U.S. permanent residency at $5 million
According to Jinshi News, U.S. President Trump announced on Tuesday that he will launch the "Gold Card" program within two weeks, offering U.S. permanent residency and a path to citizenship to investors for $5 million, replacing the existing EB-5 investment immigration program.
Commerce Secretary Lutnick stated that unlike the EB-5 program, the "Trump Gold Card" allows applicants to pay funds directly to the U.S. government rather than investing in American businesses. Lutnick added, “They can come to the U.S., the president can give them green cards, they can invest in America, and we can use this money to reduce the deficit.” The Trump administration believes the plan can be implemented without congressional approval, though full implementation details have not yet been released.
Eric Trump: ₿uy the dips!!!
Eric Trump, the younger son of Donald Trump, posted “₿uy the dips!!!” on X, replacing the “B” with the Bitcoin symbol, possibly hinting at buying Bitcoin during the dip.
Trader "Set 10 Big Goals First" liquidates 1,783.48 BTC at a loss, total value $159 million
According to Ai Monitor, well-known trader "Set 10 Big Goals First" (@Jason60704294) stopped out when Bitcoin dropped to $89,000, closing his entire position of 1,783.48 BTC at an average price of $89,138, totaling $159 million.
The trader’s entry price averaged $100,320.80. He had not exited earlier when Bitcoin fell to $91,231 on February 3. This exit erased all previously accumulated unrealized gains.
Market Data
Suggested Reading
BTC falls below $90K: How are experts predicting the market outlook?
This article mainly discusses how market sentiment, influenced by multiple factors, could lead to further declines after Bitcoin broke below $90,000. Institutional fund withdrawals, leveraged liquidations, and macroeconomic pressures are the main triggers. Analysts hold divergent views on the future outlook—some see this drop as a correction within a bull market, while others predict further downside. Market recovery will likely require fresh capital inflows and improved macro conditions.
Decoding the Mint Blockchain Whitepaper: The Ambition and Future of an NFT-dedicated L2
This article introduces Mint Blockchain, an Ethereum Layer 2 infrastructure dedicated to NFTs and RWAs, driving industry development through efficient, low-cost solutions. Its goal is to solve pain points in the NFT ecosystem—such as standardization, liquidity, and integration with real-world assets—through specialized technical architecture and modular design, while attracting users and developers via innovative tokenomics and airdrop campaigns.
On the eve of SOL unlock, SBF speaks again: Four years ago “bought all at $3”, now a different world
This article mainly discusses SBF's return to social media after two years, addressing corporate layoffs and management issues, jokingly comparing himself to government employees. The community questions the authenticity of SBF’s posts, noting the writing style differs significantly from before, even suspecting his account was sold. Amid the overall crypto market downturn, SOL’s future development relies more on its community and ecosystem builders than any single individual.
From Fantom to Sonic, ve(3,3) remains the core engine driving flywheel growth
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Monad Testnet is heating up: 13 airdrop opportunities and Bonus project guide
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