Solana staking protocol Fragmetric completes $7 million seed round

February 6 – The Federal Reserve Bank of Boston said Thursday that the impact of tariffs will fade by mid-year. The central bank also noted high inflation has persisted too long and reached a plateau, adding the Fed cannot ignore the inflation issue.

**February 6th** — Citigroup has sharply cut its price target for Coinbase stock, slashing it from $505 to $400. The revision ties to four key drivers: waning risk appetite in the crypto market, softer trading volume, reduced institutional activity, and uncertainty over the progress of U.S. crypto market structure legislation. Coinbase’s shares have retraced roughly 65% from their all-time high of ~$450, but the new target still implies a gain of more than 100% from its current closing price of ~$146. Notably, Citigroup is keeping its "Buy/High Risk" rating on Coinbase. The firm views the company as an industry leader, poised to benefit long-term from improvements to the U.S. crypto regulatory framework. (Source: CoinDesk)

**Feb. 6 Update** U.S. Treasury Secretary Janet Yellen said Tuesday Hong Kong is exploring a new digital asset-based financial system as a “sandbox” for financial innovation, sparking market concerns over potential impacts on Bitcoin and gold pricing. Yellen added there’s no conclusive evidence of the initiative yet, but related rumors are circulating, and the U.S. is closely monitoring the situation. Analysts note a future sovereign digital asset system tied to gold could long-term disrupt the dollar-dominated global financial system and crypto asset pricing logic. Still, the current landscape remains in early policy discussion and market speculation stages—short-term crypto market moves are driven by sentiment and expectations. (Forbes)

February 6th Per The Kobeissi Letter, institutional investors are actively offloading U.S. stocks. Hedge funds sold U.S. equities at the fastest clip since last October on Wednesday—marking their second straight day of selling, driven primarily by short-selling followed by long position unwinds. This is also the fifth net outflow for hedge funds in the past six trading sessions. As a result, five of the 11 U.S. stock market sectors have seen liquidations, with information technology, industrials, and materials hit hardest. Subsectors facing the most pressure include semiconductors & semiconductor equipment, communication equipment, and technology hardware. The report notes this signals a shift in hedge fund sentiment.

February 6: Per HyperInsight data, the Bollinger whale address **pension-usdt.eth** reopened a 3x ETH short position ahead of the U.S. stock market open, with a notional value exceeding $8.45M (equivalent to 4,503 ETH). Later that day at noon, the whale closed out the short position, netting $2.21M in profits over 11 hours.

February 6 — According to Reuters, Sberbank, Russia’s largest bank, is preparing to launch cryptocurrency-backed loans for corporate clients. A bank spokesperson noted the move responds to strong interest from corporate clients, adding the lender is ready to collaborate with the central bank to develop regulatory rules. Previously, Sberbank had issued the first pilot cryptocurrency-backed loan to mining firm Intelion Data by the end of 2025, with collateral consisting of cryptocurrency mined by the company. The Bank of Russia currently classifies cryptocurrency as a foreign exchange asset, allowing trading but banning its use for domestic payments. Russia plans to finalize the relevant legislative framework by July 1, 2026. Additionally, Russian lender Sovkombank has already begun issuing such loans.