Gate.io Launches INIT Perpetual Contract Pre-trading

Feb 12 — Decentralized exchange Lighter has added support for Korean stock futures trading, covering Hyundai, Samsung, SK Hynix, and the Korea Composite Stock Price Index (KRCOMP), with up to 10x leverage.

Feb. 12: LookOnChain monitoring data shows trader 0x4321—who previously lost $3.2 million shorting BTC—has re-entered the market after over two months of inactivity. He just placed a leveraged short position of 99 BTC (valued at $6.7 million), with a liquidation price of $76,202.53.

As of February 12, Coinglass data indicates total liquidations across the entire network reached $471 million over the past 24 hours—including $299 million in long liquidations and $172 million in short liquidations. Globally, 149,680 traders were liquidated in the same period, with the largest single liquidation occurring on Hyperliquid: a BTC-USD position valued at $11.86 million.

February 12 — Per Onchain Lens data, multiple crypto whales are ramping up their holdings of gold-backed tokens. A new wallet (0xcF7) received 2,100 XAUT (valued at $10.58M) from Bitfinex. Additionally, two wallets (0x83F and 0xd95) linked to the same entity withdrew 986 PAXG (valued at $5.01M) from Binance.

Nomura Securities has pushed back its forecast for the Federal Reserve’s first interest rate cut this year from March to June, while still projecting a total of 75 basis points of reductions in 2024 to bring the target rate to 3%. The cuts are expected in June, September, and December (25 basis points each). Led by Chief U.S. Macro Strategist Oscar Munoz, Nomura’s team noted the anticipated policy easing is not driven by worsening economic conditions, but rather inflation gradually moving toward the Fed’s target—allowing monetary policy to “normalize.” Improved employment outlooks will enable the Fed to shift its focus to its inflation mandate, the team added. The firm also forecasts U.S. 10-year Treasury yields will continue falling this year, with the benchmark yield seen ending 2024 at 3.75% (up from its prior forecast of 3.5%). (Source: FXStreet)

On Feb. 12, Elon Musk announced he has restructured his AI startup xAI following the departure of two co-founders earlier this week. The revamped company will focus on four core areas: Grok, Programming, Imagine video products, and Macrohard — the latter responsible for generating and managing xAI’s digital intelligence. The two co-founders, Jimmy Ba and Tony Wu, resigned in quick succession, with several other employees also leaving in recent days. Before these departures, xAI had just merged with SpaceX, pushing the combined entity’s valuation to $1.25 trillion. The deal is expected to ease xAI’s financial strain, as the company has been burning through significant cash to build data centers, purchase high-cost computing chips, and cover talent expenses. Source: (Jinshi)