Headline
▌Global Crypto Exchanges Are Racing to Launch US Stock Token Trading Services
Several major global cryptocurrency exchanges are racing to launch cryptocurrency token trading services that track US stock market movements, creating a parallel market not subject to US regulatory oversight. According to a source familiar with the matter, Binance is considering relaunching stock tokens on its platform—a product that was delisted in 2021. Haider Rafique, Global Managing Partner and Chief Marketing Officer of OKX, another major global cryptocurrency platform, stated that the company is also considering launching tokenized stock services. Currently, exchanges including Kraken and Bitget, as well as decentralized platforms like Jupiter, have seen their stock token products gradually gain market attention. Stock tokens come in various structures, but are essentially tokenized certificates of shares in companies like Apple and Nvidia. Investors can trade them through overseas cryptocurrency exchanges, even when the US stock market is closed.
Furthermore, investors unable to open a US brokerage account can also indirectly participate in the US stock market through these tokens, with trading supporting anonymous trading. Web3 cybersecurity company CertiK is exploring an IPO path. The co-founder stated that the company currently has no concrete IPO plans, but going public remains a goal. CertiK's most recent valuation was $2 billion, from a 2022 funding round co-led by Insight Partners, Tiger Global, and Advent International. As of press time, according to CoinGecko data: BTC price is $89,415.00, a 24-hour change of approximately -0.43%; ETH price is $2,949.84, a 24-hour change of approximately -0.49%; BNB price is $888.42, a 24-hour change of approximately... 0);">
-0.24%；
SOL price is
$127.24, with a 24-hour change of approximately
-1.07%；
DOGE price is
$0.124029, with a 24-hour change of approximately
-0.82%；
XRP price is
$1.91, with a 24-hour change of approximately
-0.52%；
TRX price is
$0.296352, with a 24-hour change of approximately -3.48%; WLFI price is approximately $0.17, with a 24-hour fluctuation of approximately +1% to +3%; HYPE price is $22.76, with a 24-hour fluctuation of approximately +4.84%.
Policy
▌UK FCA Enters Final Consultation Phase on Crypto Industry "Consumer Duty," Plans to Open License Applications in September 2026
The UK Financial Conduct Authority (FCA) has announced that it has entered the final consultation phase on the regulation of the crypto asset industry, with comments accepted until March 12, 2026. The focus is on how to apply "Consumer Duty" rules to crypto asset companies. The FCA stated that it plans to open the application channel for crypto asset business licenses in September 2026 and requires all crypto service providers (including companies already registered under anti-money laundering regulations) to obtain formal authorization no later than October 2027.
Under the proposed rules, crypto companies must act in good faith, avoid foreseeable harm to customers, and ensure good customer outcomes in areas such as information disclosure, pricing, and customer support.
▌US SEC Agrees to Dismiss Lawsuit Against Gemini Earn
The US Securities and Exchange Commission (SEC) on Friday agreed to dismiss a lawsuit against cryptocurrency exchange Gemini, related to the company's delisted Earn product. The SEC stated that the lawsuit was no longer necessary after Gemini Earn investors recovered 100% of their assets.
▌FBI Arrests Former Olympic Athlete Suspected of Using Crypto Assets to Operate Transnational Cocaine Crime Network
The Federal Bureau of Investigation (FBI) has arrested former Olympic snowboarder Ryan Wedding in Mexico City. The US accuses him of operating a transnational drug trafficking organization and extensively using cryptocurrencies and stablecoins for drug money settlement and money laundering.
FBI Director Kash Patel stated that Wedding will be extradited to the United States to face multiple charges, including cocaine trafficking and murder. Wedding has been on the FBI's Ten Most Wanted Fugitives list since 2025, with a bounty of up to $15 million on his capture. US prosecutors allege that the criminal network, in collaboration with the Sinaloa Cartel in Mexico, smuggled hundreds of kilograms of cocaine from Colombia through Mexico and California to the United States and Canada.
The US Treasury Department previously indicated that the organization used multiple blockchains, including Bitcoin, Ethereum, Tron, Solana, and BNB Chain, for financial transactions, involving stablecoin payments and exhibiting characteristics of multi-chain money laundering. In 2024, the US Treasury Department's Office of Foreign Assets Control (OFAC) imposed sanctions on Wedding, its associates, and shell companies, and froze multiple encrypted addresses. Prosecutors also allege that Wedding orchestrated the murder of informants and planned multiple acts of violent retaliation related to drug trafficking.
Blockchain Applications
▌CZ on Trump's Pardon: I am now a truly free man
Binance founder CZ, in an interview with CNBC in Davos, said, "I was pardoned by Trump three months ago, and I feel much freer in the past three months. I think it's more of a psychological change. It's like a heavy burden has finally been lifted. I was actually free before, but I carried the burden of being a felon. But now I am a truly free man."
▌Tether-backed Stable mainnet upgrades to v1.2.0
Tether-backed L1 blockchain Stable announced that its mainnet will be upgraded to version v1.2.0 on February 4th. This upgrade will switch the native Gas to USDT0 and remove the original wrap/unwrap process. In addition, it will improve the observability of the staking lifecycle of the indexer and enhance compatibility with developers across the network.
CryptoQuant: Bitcoin on-chain data turns to loss, first time since October 2023
A recent report from blockchain analytics firm CryptoQuant shows that Bitcoin holders have begun to experience net losses, the first time since October 2023.
Data shows that since December 23, 2025, the cumulative net loss has reached nearly 69,000 Bitcoins.
The report points out that the current pattern of shifting from net profit to net loss is highly similar to the transition period from the bull market to the bear market in 2021-2022. Annualized net realized profit has fallen to 2.5 million Bitcoins, the lowest level since March 2024, approaching the state at the beginning of the 2022 bear market. The company believes that the continued decline in net realized profit indicates that the upward momentum of Bitcoin prices is weakening. It has previously issued multiple warnings of bear market signals and characterized the recent rebound as a "bear market rally." BNBChain: Verifying Details of Coinmarketcap Account Theft Nina Rong, Executive Director of Growth at BNBChain, stated that she has received reports of a BNBChain Coinmarketcap account being stolen. We are currently verifying the details with our security and internal audit teams and have noted that we should exercise caution when making any investment decisions posted on social media.
▌CZ: If I Could Start Over, I Would Block US Users from Day One to Avoid Regulatory Risks
Binance founder CZ, in an interview with CNBC in Davos, when asked "What different choices would you make if you could do it all over again?", said, "I would block US users from day one. This is the most crucial point, the core of which is the regulatory issue. When we initially built our technology platform, we actually had US users, and I was in Shanghai at the time; we were just a small tech startup. But it wasn't until about six years later that we realized this was considered a violation of the Bank Secrecy Act. If I had known this then, if I could do it again, I would definitely have blocked US users directly from day one; that would have avoided far fewer problems."
Important Economic Developments
▌Spot Silver Reaches $102/oz
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