If Bitcoin breaks through $86,000, the mainstream CEX aggregate short liquidation intensity will reach 9.12 billion

On February 12, Fortune reported that former President Trump’s proposed tax cuts—touted as a key measure to tackle the affordability crisis—are projected to spark the largest tax refund season on record. However, a non-partisan analysis from the Tax Foundation think tank found that tariff burdens have effectively canceled out the tax cuts’ benefits, acting as an invisible tax hike on American families: the average household burden will hit $1,000 in 2025, climbing to $1,300 in 2026. Even after accounting for tax refunds, the average American still faces a roughly $300 loss. Long-term, tariffs are projected to net $1.9 trillion in federal revenue between 2025 and 2034, while the tax cuts will cut federal revenue by $4.1 trillion—creating an overall net negative impact.

On February 12, Binance founder CZ said during an AMA (Ask Me Anything) session: While I might be wrong about this, Real World Assets (RWA) are now drawing a ton of attention. From my conversations and feedback, every country I engage with wants to tokenize some of its assets. Here’s why: For a country, tokenizing an asset lets it secure funding right away. When people want to redeem the token, physical settlement can happen later. This token will build a new economic ecosystem for that asset class—and you can then develop full infrastructure around it. That said, the World Cup is approaching—so I’m betting prediction markets will blow up during the tournament. They’ll also heat up around big events like elections, too. These seem relatively "obvious" calls, but I could be wrong. There’s always something that comes out of left field and blows up overnight.

**Binance Founder CZ on Chinese Community Unity in Feb 12 AMA** Binance founder Changpeng Zhao (CZ) said during an AMA on February 12 that he can’t personally represent the massive Chinese community, noting its size often sparks fierce internal competition. He added recent fake news and similar issues are likely the work of Chinese competitors—even friendly ones. CZ stressed the Chinese community isn’t as united as it should be right now, urging greater unity to boost the group’s overall international influence. However, he noted people often struggle to stay united, saying he can’t change that.

On February 12, Binance founder CZ shared during an AMA: “I believe we should focus on our own work. My advice to all ecosystem projects, projects tied to me, or those I can influence: stick to your own lane—don’t talk about others, don’t fixate on them. If our products lag others, we learn. If others have strong values, we learn. If they have a top team, we recruit. We’ve been hiring, but we only measure ourselves against our own goals. At the end of the day, a great product will win users over—that’s all that matters. Token prices being a bit higher than others isn’t cause for celebration, nor is a slight dip reason to be upset. Winning long-term is the only real win. Prioritize serving users well: protect their funds, offer the lowest fees, fastest speeds, and best user experience so they can leverage all your product features. That’s what matters most—everything else is noise, so don’t sweat it.”

February 12 — Per LookOnChain monitoring, the whale address 3NVeXm has just transferred an additional 1,800 BTC to Binance, valued at approximately $122 million. The same address sold 5,000 BTC via a centralized exchange (CEX) yesterday, with the transaction worth roughly $343 million.

On February 12, Binance founder Changpeng Zhao (CZ) said during an AMA session: “I think people just tally up assets and funds and slap on the ‘richest person’ label. But what matters more to me is contributing to society and the world—that’s what actually makes me feel good. I don’t do this for other people—I do it for ‘selfish’ reasons. Doing things that have a positive impact on the world makes me feel good. Humans are wired genetically to want to help each other, to leave the world a little better than we found it, right? That’s why we want to make a positive contribution. When you do this, you get a really strong internal reward that makes you happy. That’s why I do it. Especially after going through what I did over the past two years, I now value the simple joys in life. I feel really lucky right now—I have enough resources to do impactful things, enough skills, a solid team, the funds to make things happen, and the time to put into it too. I’m not exactly young anymo