U.S. Senator: If Powell Is Fired by Trump, It Will Trigger a Market Collapse

On February 12, Sonic Labs announced a strategic realignment to consolidate its product roadmap and channel resources toward core blockchain infrastructure services. This move reflects a broader strategic shift underway across the Web3 ecosystem—companies are increasingly prioritizing scalability, interoperability, and long-term sustainability over the previous multi-product trial-and-error model. Sonic Labs noted the revised strategy will prioritize its foundational technologies, including liquidity infrastructure, a cross-chain communication system, and developer integration tools. By narrowing its operational focus, the firm aims to boost execution efficiency, accelerate product upgrades, and better align with the needs of dApp developers and ecosystem partners.

Binance CEO Richard Teng told attendees at the Consensus Hong Kong conference on February 12 that the October 11 crypto market liquidation was not caused by Binance. Instead, the event stemmed from China’s rare earth export controls and new U.S. tariffs, which triggered large-scale liquidations across all centralized and decentralized exchanges that day. About 75% of the liquidations occurred around 9:00 p.m. U.S. Eastern Time that day, alongside two unrelated, isolated technical issues: the stablecoin USEe depegging and some asset transfer delays, Teng said. “The U.S. stock market lost $15 trillion in value that day, with $150 billion in liquidations—far more than crypto’s $19 billion,” he noted. On a macro level, uncertainty over future interest rate direction persists, while geopolitical tensions and other trends continue to pressure assets like crypto, Teng said. “What matters most is underlying development: Retail demand has weakened compared to the past year, but institu

On February 12, Nicholas Peach—Head of Asia-Pacific for BlackRock iShares—told the Hong Kong Consensus Conference that a mere 1% allocation to crypto assets in a traditional Asian portfolio could theoretically unlock nearly $2 trillion in new capital. Crypto ETFs are gaining traction among Asian institutions, with some allocation models recommending small exposure to the asset class. Given an estimated $108 trillion in Asian family wealth, even a conservative allocation would have a meaningful impact.

On February 12, official sources confirm Hyperliquid has launched the AZTEC/USDC perpetual contract, offering up to 3x leverage.

February 12 – Thailand is advancing plans to integrate cryptocurrencies into its regulated derivatives market. The Thai Securities and Exchange Commission (SEC) recently announced it will expand the scope of permitted underlying assets under its derivatives regulatory framework to include digital assets and carbon credits. This move follows the Thai Cabinet’s recent approval of a proposal to align the country’s derivatives market with international standards, while upholding robust regulatory oversight, risk mitigation, and investor protection measures. The SEC’s update formally recognizes digital assets (including cryptocurrencies) as a legitimate investment asset class eligible to serve as underlying assets for regulated derivatives. This means futures, options, and other contract products tied to assets like Bitcoin could launch on platforms such as the Thailand Futures Exchange (TFEX) in the future. The regulator intends to establish complementary regulatory details: am

February 12 — CoinDesk reports that OKX Ventures has made a strategic investment in STBL, a stablecoin and yield infrastructure provider, with the specific investment amount undisclosed. STBL was co-founded by Reeve Collins (a Tether co-founder) and Avtar Sehra (founder of Libre Capital). The firm says it plans to build a real-world asset (RWA)-backed stablecoin on X Layer, OKX’s Ethereum-compatible Layer 2 blockchain.