The Federal Reserve is considering opening up the payment system to non-bank institutions, sparking industry controversy
On February 10, Decrypt reported that the Federal Reserve is exploring limited payment account access for non-bank financial institutions, igniting fierce debate between fintech firms and traditional banks.
The Electronic Transactions Association (ETA) and other groups back the proposal, arguing it will boost competition and innovation in the payments space. Meanwhile, the Bank Policy Institute (BPI) and other institutions caution the move could heighten financial instability—particularly by supporting stablecoin issuance and similar crypto-related businesses that act like deposits but lack deposit insurance. The decision will significantly shape the boundaries between banks, fintech firms, and crypto companies in the U.S. payments ecosystem.
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Binance will delist multiple margin trading pairs on February 13th
February 10 — Binance announced it will delist the following margin trading pairs at 06:00 UTC on February 13, 2026:
Cross margin pairs: QNT/BTC, GRT/BTC, CFX/BTC, IOTA/BTC, ROSE/BTC, THETA/BTC, SAND/BTC, RUNE/BTC, ALGO/BTC, LPT/BTC;
Isolated margin pairs: QNT/BTC, GRT/BTC, CFX/BTC, IOTA/BTC, ROSE/BTC, THETA/BTC, SAND/BTC, RUNE/BTC, ALGO/BTC, LPT/BTC.
Key timelines:
- Feb 11, 2026 (06:00 UTC): Lending suspended for the listed isolated margin pairs.
- Feb 13, 2026 (06:00 UTC): User positions closed, automatic settlement executed, all pending orders canceled for the pairs.
Note: Users may still trade these assets via other available margin trading pairs on Binance.
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US Treasury Secretary Yellen Slams Coinbase's Opposition to the CLARITY Act as 'Obstinate Stance'
February 10th
U.S. Treasury Secretary Scott Benson labeled Coinbase a "reluctant participant" in a Fox News appearance, criticizing the crypto exchange for opposing the proposed CLARITY Act.
During last week’s Senate Banking Committee hearings, Benson repeatedly emphasized the need to pass the legislation and used strong language against its opponents.
The CLARITY Act aims to clarify regulatory jurisdiction over crypto assets, with the SEC and CFTC overseeing distinct areas. However, Coinbase has raised concerns that the bill could restrict business models tied to stablecoin rewards, sparking industry divisions.
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A court in Guangdong, China, has sentenced 19 individuals in a virtual currency "boosting" money laundering case, involving fraudulent funds of over 2 million yuan
**February 10 Update**
Per the official WeChat account of Net Letter Jiangmen, Guangdong’s Kaiping Court recently sentenced 19 people in a money laundering case tied to bank card trafficking (locally referenced as “smurfing”).
Between July and September 2024, Suspects A, B and their group recruited 14 “cardholders” by offering a 4% commission for cash withdrawals using bank cards, plus extra rewards for recruiting more people. The group helped transfer funds from telecom fraud and other crimes via cash withdrawals and virtual currency exchanges—with total funds involved exceeding 2 million yuan.
All 19 defendants were convicted of concealing and disguising proceeds of crime (they knew the funds were from illegal activities). Sentences range from 8 months to 3 years and 6 months in prison, plus corresponding fines.
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Whale "degen-retard.sol" Fails to Buy the Dip on SOL, Exits with $3.6 Million Loss
Feb. 10 — Per LookOnChain data, the whale address "degen-retard.sol" emerged roughly two weeks ago, investing ~$124M (avg. $124/SOL) to buy 100k SOL tokens and stake them. Six hours ago, he dumped all his SOL, incurring a loss of over $3.6M. Prior to this trade, he’d already lost over $6.6M on SOL.
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Base App announces a shift in product direction, focusing on enhancing on-chain transaction experience
On February 10, Base App announced a product direction shift, focusing on enhancing the on-chain transaction experience. Its information feed will now only display tradable assets and on-chain activities, while the Talk discussion section will be removed.
Additionally, Base App will phase out its Creator Rewards program. Over the past six months, more than $450,000 has been distributed to roughly 17,000 creators. The program will conclude on February 15, with the final distribution taking place on February 18. The company stated it will explore new community incentive mechanisms in the future.
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