Singapore's largest money laundering case suspect Wang Shuiming may be extradited to China, with his accomplice being the mastermind behind the Hong Kong crypto platform scam AAX.

Feb. 8 data from Coinglass shows that if Bitcoin breaks above $73,000, the total short liquidation intensity across major centralized exchanges (CEXs) will hit $482 million. Conversely, if Bitcoin drops below $70,000, the total long liquidation intensity on these major CEXs will reach $270 million. Note from BlockBeats: Liquidation charts do not display the exact number or value of contracts being liquidated. Instead, the bars on these charts represent the relative importance of each liquidation cluster compared to neighboring clusters—i.e., "intensity." Thus, liquidation charts illustrate how significantly reaching a specific price level will impact the market. A taller "liquidation bar" means the price hitting that level will trigger a more intense reaction due to a liquidity cascade.

February 8 — Omnichannel trading platform Based today announced the launch of its native token, BASED, alongside its tokenomics details. The total supply of BASED is 1 billion tokens, with allocations broken down as follows: - 36% to the community - 23.64% for ecosystem and community rewards - 20.36% for investors - 20% for core contributors Community token distributions are further specified: - 23.5% (235 million tokens) will go to Based community members who joined Season 1/2 point activities, PUP holders, BasedPal NFT holders, and launch partners supporting the token generation event (TGE). Applications open in March 2026 with no lock-up period. - 7.5% (75 million tokens) is earmarked for the Ethena community. - 5.0% (50 million tokens) is reserved for Season 3 participants. （Note: Corrected a factual typo in the original—23.5% of 1 billion tokens equals 235 million, not 2.35 billion.）

February 8 — Per HyperInsight monitoring, “Brother Ma Ji” Huang Licheng has boosted his positions in ETH and HYPE. His current ETH long position is valued at $7.45 million, with an average entry price of $2,046.47. His HYPE long position totals $1.96 million, at an average entry of $31.9. The account’s current unrealized profit stands at $269,000.

February 8th – Jack Dorsey’s Bitcoin-focused payments firm Block is undergoing a broader restructuring, with hundreds of employees being notified their positions may be eliminated as part of its annual performance review. Layoffs could reach up to 10%, per Cointelegraph. Block launched a 2024 restructuring plan aimed at boosting efficiency and refining its product lineup. The company is prioritizing closer integration between its peer-to-peer Cash App and Square merchant services division. Block is set to release its quarterly earnings report on February 26. Analysts project the firm’s fourth-quarter profit will hit $403 million, with revenue reaching $6.25 billion.

On February 8, MicroStrategy founder Michael Saylor again shared information related to the company’s Bitcoin tracker. Per MicroStrategy’s past pattern, the firm typically discloses details of its additional Bitcoin purchases the day after releasing related news.

**February 8th Brief** ARK Invest CEO Cathie Wood—widely known as “WoodSis”—said Wednesday: “The key to diversified asset allocation is adding new assets with low correlation to existing holdings, and Bitcoin fits that bill. Low-correlation additions can boost risk-adjusted returns over the long term.” That’s why I believe institutions are finally taking crypto seriously. Previously, they may have held back due to the “four-year cycle” narrative. Whether or not that cycle is real, the market has undergone a sharp correction and is now near what many technical analysts see as a potential low point. Market bottoms typically bring high volatility. In hindsight, people often say, “I wish I’d bought at that low.” The V-shaped rebound we’ve seen has already been notable. Of course, this isn’t a guarantee—but multiple factors appear to be gradually lining up.