GateNewsBot

Gate News Bot Message, February 09, according to CoinMarketCap data, as of press time, PI (Pi) is trading at $0.15, up 0.51% in the past 24 hours, with a high of $0.16 and a low of $0.13. The 24-hour trading volume reached $9.14 million. The current market capitalization is approximately $1.295 billion, an increase of $6.54 million from yesterday.
Pi is the first digital currency that can be mined on a mobile phone, utilizing groundbreaking technology to enable mobile mining without draining the battery. Pi Network features decentralization, mobile-first design, and eco-friendliness. Through a free mobile app, users can easily participate in cryptocurrency mining. Mining is completely free and only requires an invitation from existing trusted network members to download the app and start mining.
## Important recent news about PI:
1️⃣ **Mainnet migration and security upgrade progress**

The Federal Deposit Insurance Corporation (FDIC) agreed to pay $188,440 in legal fees and withdraw its public rejection of the crypto-related "Cease and Desist" order, reaching a settlement in the Freedom of Information Act lawsuit. The FDIC will cover all legal fees for History Associates and adjust its FOIA enforcement practices, committing not to apply a blanket exemption policy in banking regulation.

ChainCatcher reports that, according to Gate market data, the US Dollar Index DXY short-term declined by 15 points, and non-US currencies collectively strengthened, with EUR/USD rising by 20 points.

Ethereum Name Service provider ENS announces that it will officially cancel the originally planned Layer 2 project Namechain in ENSv2 and instead directly release the upgraded protocol on the Ethereum mainnet. ENS lead developer nick.eth stated that the drastic decrease in network fees over the past year has made the premise of "going L2 to reduce costs" no longer valid.
In an official blog post, nick.eth pointed out that the gas cost for ENS registration has decreased by about 99% in one year, driven by a series of structural changes brought about by Ethereum's scaling upgrades. The recently launched Fusaka upgrade has increased the single-block gas limit to 60 million, twice the goal set for early 2025. He also revealed that Ethereum core developers are aiming to cap the 2026 target at 200 million, which is a threefold increase from the current baseline, and this plan has not yet accounted for any potential increments from zero-knowledge rollup solutions.

On February 9, the Federal Deposit Insurance Corporation (FDIC) agreed to pay $188,440 in legal fees and waived its right to continue the Freedom of Information Act (FOIA) lawsuit over the cryptocurrency "Cease and Desist" letter, ending a legal dispute that has captured industry attention. The case forced regulators to disclose documents revealing the specific ways in which multiple banks were asked to suspend or restrict crypto-related activities.
According to a joint status report filed with the U.S. District Court in Washington, D.C., the FDIC will pay all legal fees to History Associates Incorporated. This research organization was commissioned by the United States' largest compliance CEX to initiate the information disclosure request. The FDIC also committed to adjusting its FOIA processing procedures, no longer rejecting disclosures based solely on "record type," but instead evaluating the applicability of exemptions on a case-by-case basis.

CryptoQuant analyst Darkfost on the on-chain data platform pointed out that the Bitcoin Sharpe ratio, which measures the risk-reward relationship, has fallen into negative territory and is approaching levels that have historically appeared during the late stages of multiple bear markets. This change is seen as a potential cycle signal, but it does not mean the market has already reversed.
Darkfost stated on X that the current indicator range has often corresponded to the final downward phase of the market in the past. However, this is more like a sign that the risk-reward ratio has reached an extreme, rather than an immediate confirmation of a bull market. Data shows that the indicator has dropped to -10, the lowest since March 2023.

The Korean financial regulatory authorities announced that they will comprehensively upgrade their supervision of the cryptocurrency market, focusing on cracking down on price manipulation, high-frequency abnormal trading, and market disorder caused by IT system failures. This move is seen as a significant turning point in South Korea's efforts to advance the digital asset governance system.
According to Yonhap News Agency, the Financial Supervisory Service (FSS) stated in its latest annual policy agenda that it will conduct special investigations into high-risk behaviors in the cryptocurrency market and impose stricter punitive fines on institutions that damage market fairness and consumer rights due to system failures within the entire financial system. Regulators emphasized that technological stability has become one of the core elements of financial security.

Gate News Bot Message, February 09, according to CoinMarketCap data, WLFI (World Liberty Financial) is currently priced at $0.11, up 14.66% in the past 24 hours, with a high of $0.14 and a low of $0.10. The 24-hour trading volume reached $205 million. The current market capitalization is approximately $3.047 billion, an increase of $389 million from yesterday, ranking 30th.

After the FTX collapse, the bankruptcy management team sold their stake in Anthropic, cashing out approximately $884 million, ultimately recovering $1.3 to $1.4 billion. Anthropic's valuation soared during the AI boom, with a pre-funding valuation of up to $350 billion. If not for bankruptcy, SBF's equity could have been worth $28 billion, missing out on huge appreciation.

A whale on a certain blockchain fully closed a long position of approximately 60,000 ETH on February 9, incurring a loss of $9.63 million. Although they attempted to average down, they ultimately chose to cut losses and reopened a short position on ETH at an average price of $2,086, with a position size of about $28.6 million.

French police have arrested six suspects allegedly involved in kidnapping a judge and his mother. The kidnappers demanded a cryptocurrency ransom, but the victims escaped with the intervention of neighbors and did not pay the ransom. This case highlights the organized trend of cryptocurrency-related crimes, and the investigation is ongoing.

Gate News Bot Message, February 09, according to CoinMarketCap data, KAS (Kaspa) is currently trading at $0.03, up 6.63% in the past 24 hours, with a current market capitalization of approximately $908 million.

Matrixport analysis indicates that Bitcoin, after experiencing capitulation-style selling, is attempting a rebound. In the short term, technical indicators suggest potential upward movement, but sustained gains will depend on new inflows of capital rather than short covering. Currently, the market remains in a bear market reset phase, with weakening demand momentum and increased price volatility. If spot support remains weak, it could lead to a gap down in price.

The largest long whale on the Chain, "Loraclexyz," recently achieved a profit of $11.5 million by continuously going long on HYPE and trading BTC and ETH in swing trades, with funds growing from $7 million to $41.1 million. Its holdings include $48.52 million in HYPE long positions and short positions in BTC and ETH.

As of February 6, the total net inflow of Bitcoin spot ETFs reached $371 million, with BlackRock's IBIT ETF having the highest net inflow at $232 million. The total net inflow amounted to $61.841 billion. Currently, the total net asset value of Bitcoin spot ETFs is $89.433 billion, with cumulative net inflows reaching $54.689 billion.

As of February 6th, Ethereum spot ETFs have a total net outflow of $16,745,500. Bitwise ETF ETHW has a net inflow of $11,797,800, and Grayscale Ethereum Mini Trust ETF has a net inflow of $6,799,500. BlackRock ETF ETHA has a net outflow of $45,438,100. The total assets under management (AUM) amount to $11.966 billion, with a historical net inflow of $11.809 billion.

In the past week, Bitcoin experienced its largest single-week decline in three years, with a 13% drop on February 5th, briefly falling below $61,000. Crypto whale Yi Lihua lost $700 million and liquidated 400,000 Ethereum, but some funds have started to buy the dip. Optimists believe the winter may end quickly, and currently, top billionaires have not faced a crisis.

ChainCatcher reports that, according to Arkham data, at 12:48, 195.82 BTC (worth approximately $13.9 million) was transferred from an anonymous address (starting with 3G5oj8S5...) to another anonymous address (starting with 32RfUiZx...).

Odaily Planet Daily reports that according to Gate data, spot silver surged 5.00% intraday, currently at $81.72 per ounce. Comex silver jumped 6.00% intraday, currently at $81.52 per ounce.

U.S. Treasury Secretary Yellen suggests holding Wash's Federal Reserve nomination hearing simultaneously with the Powell investigation, as Republican Senator Tillis plans to delay the selection despite supporting Wash. Tillis's voice on the Banking Committee is crucial and could lead to a tied vote on the nomination.