Morgan Stanley: Fed Led by Powell Could Intensify US Treasury Market Volatility
February 3rd, Morgan Stanley said the Federal Reserve under Kevin Warsh could exacerbate volatility in the U.S. Treasury market by reducing policy transparency.
Warsh—nominated by Trump to succeed Powell as Fed chair in May—served as a Fed governor from 2006 to 2011. Morgan Stanley’s review of past Federal Open Market Committee (FOMC) meeting minutes found Warsh wanted investors to form their own views on economic growth, inflation, and monetary policy.
At the bank, analysts Hornbach and Tauber note the former governor favors a smaller balance sheet: this could push long-term Treasury yields higher relative to short-term yields, steepening the yield curve.
A key concern, however, is that the Fed under Warsh may alter its communication strategy, raising investor uncertainty. Changes could include less media interaction from Fed officials (especially ahead of FOMC meetings) and potentially scrapping the “dot plot” forecasts or economic projections summary (per FXStreet).
6 minutes ago
ING Germany to Open Retail Bitcoin, Ethereum, and Solana ETP Investment Channel
On February 3, ING Deutschland (ING Germany) launched access for retail customers to invest in cryptocurrency-related Exchange Traded Notes (ETNs/ETPs) via its Direct Depot platform. The offering supports investments in digital assets including Bitcoin, Ethereum, and Solana.
ING noted the products are physically backed instruments issued by firms like 21Shares, Bitwise, and VanEck, and trade on regulated exchanges. This lets clients gain exposure to cryptocurrencies without managing wallets or private keys themselves.
The bank also warned these products carry risks such as price volatility, issuer risk, liquidity issues, and regulatory uncertainty. It added that in Germany, the tax treatment for these ETNs mirrors directly holding cryptocurrencies—holdings of over one year may qualify for a capital gains tax exemption.
(Source: The Block)
6 minutes ago
A certain whale liquidated a $3.98 million ETH long position, reallocating funds to a long position in gold.
**Feb 3rd Crypto Update**
Per HyperInsight monitoring (Telegram: @HyperInsight), at 13:14 today, an address starting with 0xb49 liquidated a 1,712.48 ETH long position with a liquidation price of ~$2,325 (equivalent to ~$3.98M). The proceeds were used to open a higher-leverage long position in xyz:GOLD (a tokenized gold asset).
The address currently holds multiple leveraged positions:
- 25x leveraged ETH long: 1,129.9 ETH (~$2.629M); unrealized gain ~$2,201
- 16x leveraged xyz:GOLD long: ~$11.3M; unrealized gain 1.53%
- 10x leveraged xyz:SILVER long: ~$1.399M; unrealized loss 0.44%
6 minutes ago
Polymarket Launches Chinese New Year Gala-themed Predictions, Including "Will Li Guyi Go on Stage", "Brand of Participating Robot", etc.
On February 3, Polymarket launched Chinese New Year Gala-themed prediction markets, per information on its official page.
One market asks: Will renowned singer Li Guanyi perform at the 2026 Spring Festival Gala?
Another focuses on robot brands participating in the gala, with Yushu and Zhipu listed as predicted participants.
6 minutes ago
Bitcoin ETF ends 4-day outflow streak, yesterday saw a net inflow of $561.8 million, Ethereum ETF saw a net outflow of $2.9 million yesterday
Per Farside Investors data as of February 3rd:
- U.S. Bitcoin spot ETFs saw a net inflow of $561.8 million yesterday, **snapping a 4-day streak of net outflows**.
- IBIT: $142 million net inflow
- FBTC: $153.3 million net inflow
- Ethereum ETFs posted a **net outflow of $2.9 million** yesterday:
- ETHA: $82.1 million net outflow
- FETH: $66.6 million net inflow
6 minutes ago
The "Suspected HYPE Listing Insider Trading" whale, who has been holding the bag since last October, is approaching the breakeven point, with an average holding price of $38.76
**Feb 3 Update**
Per Coinbob Popular Address Monitoring (via Telegram: @Coinbob_track_CN), HYPE’s price surge from $30 to $38.5 has sharply narrowed unrealized losses for one of its largest on-chain longs—a whale suspected of insider trading ahead of HYPE’s listing. The position is now near breakeven.
Current details on the 5x leveraged HYPE long:
- Position size: ~$52M
- Average entry price: $38.67
- Unrealized loss: $1.1M (-10%)
- Weekly capital recovery: >$15M
Background on the whale:
The address went long HYPE *before* its Robinhood listing on Oct 23 last year. Its entry price was later undercut, leaving it in unrealized loss for months—with no position adjustments or reductions since.
Key prior metrics:
- Peak unrealized loss: ~$26M
- Liquidation price: ~$20.1
- Liquidation risk hit as low as 0.37% in mid-late January
### Notes on U.S. style alignment:
1. **Concise phrasing**: Uses "Update" (common in crypto news alerts) and bullet points for scann
6 minutes ago
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