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.

February 12 — Lighter has rolled out a funding rate rebate mechanism for perpetual contract trading, per official sources, marking a new initiative echoing its prior innovative zero-fee on-chain trading model. Put simply, eligible traders paying funding rates will receive a percentage rebate, while the funding rate charging structure remains unchanged. Rebates can reach up to 15% of the total funding rate paid. The mechanism is effective immediately, with rebates distributed within 24 hours.

February 12 — U.S. President Trump said he concluded a "very successful" meeting with Israeli Prime Minister Netanyahu. During the session, the two discussed Gaza and significant progress across the region. Additionally, Trump emphasized his push for continued negotiations with Iran to explore a potential deal — no decisions were finalized in the meeting.

**TD Securities Delays Fed Rate Cut Start to June, Still Expects 75bps of Cuts This Year** February 12 – TD Securities has revised its forecast for the Federal Reserve’s first interest rate cut of 202X, pushing the timing from March to June, while maintaining its call for a total of 75 basis points (bps) of policy easing this year to lower the target rate to 3%. The firm’s team, led by Chief U.S. Macro Strategist Oscar Munoz, projects 25bps cuts at each of the Fed’s June, September, and December meetings. Crucially, the expected policy easing is not driven by a deteriorating economic outlook, but by inflation gradually moving toward the Fed’s target—allowing monetary policy to “normalize.” Improved employment prospects will also let the Fed refocus on its inflation mandate, the team noted. TD Securities also forecasts U.S. bond yields will keep falling this year, with the 10-year Treasury yield seen ending 202X at 3.75% (up from its prior forecast of 3.5%). Source: FXStr

On February 12, Binance released a statement saying: “Coinglass’s display of Binance outflow data is glitched due to issues with the third-party platform data it uses—similar to past instances where DefiLlama showed abnormal data. We expect its data to be restored within 24 to 48 hours.” Regular withdrawal tests across all trading platforms are a proactive, healthy practice. When doing these tests, always double-check addresses—only initiate a withdrawal after verifying they’re correct. All platforms should set up an annual “Withdrawal Day” to confirm their assets are legitimate.

February 12: Binance employee sisi addressed reports that Coinglass data showed a $3.76 billion 24-hour outflow from Binance, stating: "We spotted abnormal data on Coinglass and immediately contacted them. They confirmed an issue with the third-party data they rely on, which will take roughly 24-48 hours to fix." As of now, Binance’s fund inflows and outflows are normal, with no unusual large outflows. This statement clarifies the situation.

February 12 – Vontobel analyst Andrew Jackson noted U.S. job growth in January topped expectations, again underscoring the economy’s resilience. However, the data failed to provide policymakers with much clearer guidance. While the current economic landscape is more predictable than early last year, uncertainty surrounding the Federal Reserve remains higher than that of many other central banks. For fixed income investors, the key takeaway is: “Credit fundamentals remain sound, macroeconomic conditions are still favorable, and the U.S. economy has shown notable resilience.” Concerns over elevated corporate bond valuations are also less prominent now than a year ago. “I think credit spreads could hold steady at current levels or even narrow modestly further,” Jackson said (per FX Street).