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▌Musk appeared on the cover of Time magazine
On February 8, Time magazine has included Elon Musk as the cover character in this issue and published an article "Elon Musk" Musk's War against Washington. Musk is in the cover, wearing a suit and sitting behind a luxurious wood-carved desk that symbolizes power (or imitate the firm table in the office of the US president). On the left side behind is the American flag and on the right side is the presidential flag, suggesting that Musk has been deeply bound to the presidential power and the United States. According to the article: On one side, it is an institution with a 64-year history, a budget of $35 billion, and its mission is clearly stipulated by federal law; on the other side, it is a destructive team used by Musk to dismantle the federal bureaucracy. They call themselves members of the Ministry of Efficiency (DOGE), a group of temporary staff members without a charter, without a website, and without explicit legal authorization. Its power comes from Musk, the wealthiest man on the planet, who was given the task of dismantling most of the federal bureaucracy—cutting budgets, undermining civil service, and depriving independent institutions of the ability to hinder the president’s goals.
▌Trump: DeepSeek does not pose a security threat The United States can benefit from its innovation
February 8 news, according to media reports such as the US Newsmax News Network, US President Trump Pu told reporters on the 7th local time that he believes DeepSeek will not pose a security threat, and the United States can eventually "benefit" from the startup's artificial intelligence (AI) innovation. Newsmax News Network said that regarding the question "whether DeepSeek poses a threat to security", Trump told reporters that day, "No." “It’s a technology that is developing… Actually, I think – I think we’re going to benefit from it,” he added. “The AI we’re talking about will be much cheaper than people initially thought. It’s a A good thing. I think it's a very good development, not a bad one."
Trending as of press time, according to Coingecko data, BTC's latest transaction price is 96,552.95 US dollars, with an intraday up and down -0.2%;
ETH's latest Transaction price is US$2,640.50, with an intraday increase of +0.1%;
BNB's latest transaction price is US$614.47, with an intraday increase of +6.2%;
SOL's latest transaction price is US$200.52, with an intraday 3.9% increase or decrease;
DOGE's latest transaction price is $0.2536, and its intraday increase or decrease +2.4%;
XPR's latest transaction price is $2.42, and its intraday increase or decrease +0.6% .
▌Polish central bank refuses to accept Bitcoin as a reserve currency due to security issues
According to CryptoNews, the Bank of Poland (NBP) firmly denies it on the grounds of security and stability. Any possibility to include Bitcoin in its reserves. Poland Bank President and Currency CommitteeChairman Adam Glapiński made the announcement at a press conference and reiterated that the central bank’s priority is to maintain the absolute security of its reserve assets. "In any case, we will not consider Bitcoin, because reserves must be absolutely safe." Poland's reserves are still mainly based on traditional assets such as gold, the US dollar and the euro, with a strategic focus on financial stability.
▌Nigeria launches its first compliant stablecoin cNGN
Nigeria launches its first compliant stablecoin cNGN. The stablecoin has been launched on two exchanges and has entered the Securities and Exchange Commission (SEC) incubation program. According to Nigerian Senator Ihenyen, this stablecoin pegged to the Nigerian Naira will enable faster, lower cost and safer cross-border payments.
▌Musk: No intention to acquire TikTok, usually tend to build a company from scratch
February 9, according to Fortune, at a conference held by Axel Springer, Germany, Musk expressed his opinions on the topic of acquiring TikTok for the first time. He said he had not made an offer to TikTok and had no plans. Musk said he personally does not use TikTok and said: "I am not keen on acquiring TikTok, and I usually tend to build a company from scratch." It was reported that officials were evaluating the possibility of Musk's acquisition of TikTok's US business. If TikTok fails to successfully respond to the ban, Musk's X platform may take over TikTok's US business.
Blockchain application
▌Arweave computing platform AO main network has been launched
Arweave's decentralized storage project Arweave has officially launched its computing after a year of testing network stage. The mainnet version of platform AO. Native tokens previously minted and distributed to AR holders and testnet depositors will be transferable upon activation of the mainnet. The launch of the AO mainnet is accompanied by the final release of its native token, which is separate from Arweave’s AR token. The maximum supply cap of AO tokens is 21 million, echoing the Bitcoin model. The AO team said it adopted a fair issuance distribution model, distributing tokens to users who bridge assets to the platform and existing AR token holders. According to the holding volume, 36% will be allocated to AR holders over time. The remaining 64% are reserved for economic growth incentives, especially for bridging assets into AO, including rewards for users who deposit assets such as DAI and stETH into the AO ecosystem. Prior to release, more than $700 million had been pre-bridged to the AO testnet.
Cryptocurrency
▌Kanye West denied the issuance of tokens, related hype tokens plummeted
Rapper Kanye West posted on social media that denied the launch of cryptocurrencies, saying that "the tokens are just relying on hype to harvest fans." Previously, the market's expectations for its token issuance were as high as 40%, but it quickly fell to 10% after its statement. Several Kanye-related altcoins plummeted, one of which fell by more than 65%, and the other fell by 89%. Kanye revealed that he had rejected a $2 million token offering proposal and said he would only devote himself to what he really was passionate about and understood. After his speech, he also suspected to be seeking to communicate with Coinbase CEO Brian Armstrong.
▌Ethereum L1 block Gas upper limit has been increased to 36M
Vitalik Buterin forwarding technology update shows that Ethereum L1 has completed dynamic adjustment of the block Gas upper limit, from 30M to 36M. The adjustment is driven by validator consensus, and 49.5% of validators have adopted new parameters. The upgrade has increased L1's online transaction processing capabilities by 20%, and is expected to reduce transaction fees by 10% to 30%.
▌BlackRock plans to launch Bitcoin spot investment products in Switzerland
According to Bitcoin.com News, BlackRock, the world's largest asset management company, is planning to launch Bitcoin spot in Switzerland Invest in products. BlackRock CEO Larry Fink said Bitcoin is a safe haven to fight currency depreciation. Currently, BlackRock Bitcoin Fund continues to hit a new high inflow of funds, indicating that institutional investment demand is growing.
Important economic trends
▌Wall Street is bullish on gold, with gold-backed tokens performing strongly
Citi and UBS raise their gold price expectations due to concerns about trade war and central bank increase in holdings. The gold bull market is expected to continue. Citi raises its short-term target to $3,000 per ounce and raises its annual average price forecast from $2,800 to $2,900; UBS also raises its 12-month target to $3,000. Gold has risen to US$2,860, up about 9% this year. At the same time, benefiting from the rise in gold prices, gold-backed tokens such as PAXG and XAUT outperformed the crypto market. It is expected that if the gold price continues to rise, such assets will further benefit.
Golden Encyclopedia
▌What is chain abstraction?
The chain abstraction in a blockchain works by providing a single interface that enables users and developers to interact with multiple blockchains without managing the complexity of each individual chain. Chain abstraction solutions are still under development and many companies are working to solve the problem. At the moment, how this all works is not an exact science, but a multi-chain solution may allow users to seamlessly use Web3 from one account.
Disclaimer: As a blockchain information platform, the content of the articles published by Golden Finance is for information reference onlyExam, not as actual investment advice. Please establish the correct investment philosophy and be sure to improve your risk awareness.
