Backpack Token Distribution Details Revealed: 25% Unlocked at TGE, 37.5% Gradually Unlocked Pre-IPO, Remaining 37.5% Unlocked Post-IPO as Treasury Funds
On February 9, Backpack officially shared its token distribution details via social media, with the following breakdown:
· 25% of tokens will unlock at the Token Generation Event (TGE): 24% for point holders, 1% for Mad Lads.
· 37.5% will unlock pre-IPO, with gradual releases tied to key milestones. All tokens go to users who hit each supply milestone—based on measurable regulatory progress, product expansion, and broader market access.
· 37.5% will unlock post-listing, held as corporate treasury funds fully locked until 1 year after the IPO. These tokens act as strategic digital asset exposure for long-term value creation; all team members and investors gain token exposure through the corporate treasury.
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An ETH long position held for 70 days incurred a realized loss of $8.8 million upon liquidation. Subsequently, a new 20x leverage $120 million ETH long position is experiencing an unrealized loss of $1.4 million.
On February 9, LookOnChain monitoring data shows that a steadfast Ethereum (ETH) bull identified by the address "0xa5B0" closed out his ETH long position after holding it for over 70 days, incurring an $8.8 million loss.
Shortly thereafter, he opened a new 20x leveraged long position of 60,000 ETH (valued at $1.22 billion at the time of opening). As of now, this new position is already facing a loss of over $1.4 million.
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The US Dollar Index (DXY) continues to decline, with intraday losses expanding to 0.7%.
On February 9th, per Bitget market data, the U.S. Dollar Index (DXY) extended its decline, with intraday losses widening to 0.7%.
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BitMine increased its ETH holdings by 40,613 coins last week. Tom Lee stated that he believes ETH will experience a "V-shaped recovery" as usual.
February 9 — Bitmine announced today that the combined value of its cryptocurrency holdings, cash, and “high-risk, high-return investment projects” has reached $10 billion, per official sources.
As of 3:00 PM Eastern Time on February 8, 2026, the company’s assets include:
- 4,325,738 ETH
- 193 Bitcoin (BTC)
- $200 million in Beast Industries equity
- $19 million in Eightco Holdings equity (Nasdaq: ORBS) — a “high-risk, high-return investment project”
- $595 million in cash
Bitmine CEO Thomas “Tom” Lee noted: “ETH has fallen 62% from its 2025 peak, but Ethereum’s daily transaction volume has hit a record 2.5 million, while 2026 daily active addresses have surged to an all-time high of 1 million. Cryptocurrency prices are highly volatile — in fact, this is the 8th time since 2018 that ETH has dropped 50% or more from a recent high, meaning such declines happen nearly every year. Between January and March 2025, ETH fell 64%, then later that year jumped from $1,600 to $5,00
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Hashet: Expected Employment Data to Slightly Decrease, But Should Not Cause Panic
Feb. 9 — Hassett, Chair of the White House National Economic Council, stated that a modest decline in employment data is expected, emphasizing that softer employment figures should not spark panic. (Golden Ten)
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Nillion Unveils Decentralized Smart Agent Verification Layer Based on ERC-8004 Standard
On February 9, decentralized privacy-computing network Nillion announced the launch of a decentralized smart agent verification layer built on the ERC-8004 standard, deployed on its Ethereum Layer 2 network Nillion Blacklight.
Initially, Blacklight will focus on smart agent activity attestation: a committee of Blacklight nodes independently calls endpoints provided by smart agents, confirms a 2XX HTTP response, and records the result on-chain via decentralized consensus. The verification process includes five key steps: smart agent registration, verification request initiation, committee assignment, node execution check, and on-chain result reporting.
Nillion notes that moving forward, Blacklight will evolve toward programmable verification, supporting decentralized audits of more complex behaviors—including smart agent decision logic consistency, multi-step workflow execution, and secure constraint compliance. ERC-8004 is an Ethereum standard for smart agent registration and ver
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