Headline
▌CryptoQuant Report Shows Bitcoin Mining Profits Plunge to 14-Month Low
According to Decrypt, CryptoQuant data shows that the ratio measuring the relationship between Bitcoin price and the profitability of Bitcoin mining operations has fallen to its lowest point in 14 months, with the miner sustainability index at 21, the lowest level since November 2024.
CryptoQuant believes that given the sharp drop in Bitcoin prices this week and the current mining difficulty, miners' income is "extremely low." This situation persists despite the Bitcoin network's hashrate (a metric measuring network computing power) declining for five consecutive periods and falling to its lowest point since September 2025.
In addition to the "extremely low income" for Bitcoin miners according to the aforementioned metrics, some miners have also been severely affected by the recent severe winter storms that swept across the eastern United States, bringing snow and ice disasters to several states.
▌BNB Breaks Through $860
Market data shows that BNB has broken through $860 and is currently trading at $860.28, with a 24-hour decline of 0.66%. The market is experiencing significant volatility; please manage your risk accordingly.
-3.4%；
SOL price is approximately
$114.5, with a 24-hour change of approximately
-2.2%；
DOGE price is approximately
$0.1137, with a 24-hour change of approximately
-1.7%；
XRP price is approximately
$1.7175, with a 24-hour change of approximately
-4.6%；
TRX price is approximately
$0.2920, with a 24-hour change of approximately +0.2%; WLFI price is approximately $0.155-$0.16, with a 24-hour fluctuation of approximately -2%.
Policy
▌Trump: Not worried about Warsh's Senate confirmation process
US President Trump stated that Federal Reserve Chairman candidate Kevin Warsh did not explicitly promise to lower interest rates during his application, but added, "He certainly wants to lower interest rates." Trump praised Warsh's qualifications—including his appearance. "Looks don't matter, but he certainly has a great presence." Trump dismissed concerns about Warsh's past advocacy for interest rate hikes. He also stated that he was not worried about the Senate confirmation process. "This candidate is perfect. This is not unexpected," Trump said. According to Xinhua News Agency, US President Trump stated on the 30th that Iran hopes to reach an agreement with the United States, and he has informed Iran of the deadline for reaching an agreement. Trump answered media questions while signing an executive order at the White House that day. When asked if there was a deadline for reaching an agreement, Trump said he had communicated with Iran, but did not disclose a specific date, saying, "Only they know." The White House will hold a stablecoin rewards summit, with Coinbase and banking organizations discussing the regulation of stablecoin rewards. Coinbase, Ripple, Kraken, and several crypto industry associations and banking organizations will hold a summit at the White House next Monday to discuss the regulation of stablecoin rewards. The meeting, hosted by the White House Crypto Council, focused on how to handle stablecoin rewards—a major point of contention in lawmakers' push for overall crypto regulations and the allocation of regulatory power (CFTC and SEC). Banking groups worry that rewards could divert deposits, while Coinbase accuses banks of trying to stifle competition. The summit comes as the Senate Agriculture Committee pushes for crypto legislation, but has yet to gain Democratic support, and the Senate Banking Committee also needs to hold hearings to advance related legislation. A US judge has ruled that shareholder lawsuits against several Coinbase Global Inc. directors for alleged insider trading can proceed, according to Bloomberg. An internal investigation has ruled that the lawsuits against several directors of Coinbase Global Inc., including venture capitalist Marc Andreessen, for alleged insider trading can continue after an internal investigation ruled out wrongdoing.
A shareholder of the cryptocurrency platform filed a lawsuit in 2023, alleging that directors, including CEO Brian Armstrong, used confidential information to sell over $2.9 billion worth of stock when the company went public in 2021, thus avoiding losses exceeding $1 billion.
According to the shareholder's complaint, Brian Armstrong, who has served as CEO since Coinbase's founding in 2012, sold $291.8 million worth of stock. The US Department of Justice has released over 3 million pages of additional materials related to the Epstein case. According to CCTV News, the US Department of Justice continues to release investigative materials related to the case of the late billionaire Jeffrey Epstein. Deputy Attorney General Todd Branch stated at a press conference that the Department of Justice released over 3 million additional pages of related materials that day, including approximately 2,000 videos and 180,000 images, all related to the Epstein case. Branch stated that this disclosure was carried out in accordance with the requirements of the Epstein Data Transparency Act. The bill officially took effect on November 19th last year, requiring the Department of Justice to release all documents related to Epstein within 30 days.
Blockchain Applications
▌Coinbase CEO: Tokenized Stocks Will Bring Major Positive Changes to the Financial System
Coinbase CEO Brian Armstrong stated in an article on the X platform that tokenized stocks will bring major positive changes to the financial system, and this trend will be realized in the near future. The United States is at the forefront of this field.
Cryptocurrencies
▌Tether's Net Profit to Exceed $10 Billion in 2025
Tether, the world's largest stablecoin issuer, aims to achieve a net profit exceeding $10 billion in 2025.
Tether currently has $186 billion USDT in circulation, backed by $193 billion in assets, including approximately $122 billion in US Treasury bonds, making it one of the world's largest holders of US Treasury bonds. The company has excess reserves of $6.3 billion. In 2025, Tether added over $50 billion in USDT, the second-largest annual issuance in the company's history. The company also holds approximately 140 tons of gold and continues to invest in areas such as Bitcoin mining, decentralized AI, and peer-to-peer messaging. Furthermore, Tether established a subsidiary in the US in 2025 and launched the USAT stablecoin, issued domestically in the United States.
▌Nearly 20,000 Bitcoins Become a Focus of SpaceX-Tesla Merger Negotiations
Elon Musk's consideration of a potential merger between SpaceX, Tesla, or artificial intelligence company xAI has brought renewed attention to a less-discussed aspect of his business empire: one of the world's largest corporate Bitcoin holders.
According to publicly disclosed information, SpaceX and Tesla together hold nearly 20,000 Bitcoins, worth approximately $1.7 billion at current prices. This would make them the seventh-largest Bitcoin holders globally, second only to CoinDesk's parent company, Bullish, which holds 24,300 Bitcoins.
▌
ArkInvest Increases Holdings in Coinbase, Circle, ARKB, and Bullish Shares ArkInvest yesterday purchased 7,565 shares of Coinbase, 23,420 shares of Circle, and 35,360 shares of ARK 21Shares Bitcoin (ticker symbol: ARKB) through its fund ARKF. It also acquired 64,211 shares of Bullish.
▌Opinion: Warsh as Fed Chair May Be More Hawkish, Negative for Crypto Market
Markus Thielen, founder of 10x Research, commented on Trump's nomination of Kevin Warsh as the next Fed Chair, stating, "The market generally believes that Warsh's election is negative for Bitcoin because he emphasizes monetary discipline, higher real interest rates, and lower liquidity. This makes cryptocurrencies no longer seen as a hedge against currency devaluation, but rather as a speculative overreaction. When loose monetary policy is withdrawn, this overreaction will disappear. From this perspective, his approach is likely to lead to higher unemployment, slower economic recovery, and a greater risk of deflation in the 2010s."
Important Economic Developments
▌Dollar Sees Largest One-Day Gain Since July, Gold and Silver Plunge Drags Down Commodity Currencies
▌Analyst: The Precious Metals Feast is Over, and It's Unprecedented
InvestingLive analyst Adam Button stated that the precious metals feast is over, and it's unprecedented. Regarding gold, I find it hard to imagine its price falling below $4,000. If it does drop to that level, I think some well-funded investors will step in, but I won't comment before then. For holders? This is a tricky choice. This market situation could improve rapidly or become highly volatile, and making panic decisions on Friday night is unwise. Will we see a further sell-off similar to "Black Monday"? Personally, I think it's unlikely unless there's some trigger beyond the Iran deal.
▌Federal Reserve Vice Chair for Supervision Bowman says she still supports rate cuts, despite voting to pause rate cuts at this week's meeting
Federal Reserve Vice Chair for Supervision Bowman said on Friday that she still believes interest rates should be lowered, but voted this week to keep monetary policy unchanged, merely to gather more data before the next rate cut. Bowman said she expects three rate cuts this year, each by 25 basis points, and the decision made by the Fed after its two-day policy meeting on Wednesday only concerns the timing of the next action. Bowman said her analysis of the risks to the economy remains unchanged; inflation is likely to approach 2%, but the weak labor market still requires accommodative monetary policy. However, she also acknowledged that the labor market has shown signs of stabilization, and given the data gap caused by last fall's US government shutdown, she believes that the current policy rate range of 3.50%-3.75% should be considered at the next meeting.
Spot gold plunged 8.00% intraday, currently trading at $4946.59 per ounce. US stocks continued their decline in early trading on Friday, with traders betting that Kevin Warsh, the Fed chairman chosen by Trump, would ultimately not support deep interest rate cuts and would be more concerned about inflation. Although Warsh had responded to Trump's call for rate cuts and supported Fed reform, traders believe he will ultimately be more inclined to prevent rising price pressures due to his expressed concerns about rising inflation during his tenure at the Fed.
Golden Encyclopedia
▌How AI in Cryptocurrency Trading Reshapes and Disrupts the Role of Humans
Artificial intelligence (AI) is gradually integrating into cryptocurrency trading, accelerating the analysis, execution, and optimization processes previously performed by humans. Investors and trading firms are facing the challenge of automating decision-making without diminishing control, accountability, or human judgment. While some projects are striving to build more autonomous trading systems, most AI tools in the cryptocurrency space remain subject to numerous limitations. Humans are still responsible for strategy development, setting risk limits, and bearing responsibility for outcomes, while machines handle most of the bandwidth used for data-intensive tasks such as research and monitoring. In the cryptocurrency market, the balance between automation and regulation is quietly reshaping trading workflows and beginning to redefine which human roles remain important.
AI hasn't eliminated humans from the cryptocurrency space, but it is reshaping the way labor is distributed across the entire industry.
AI hasn't removed humans from the cryptocurrency space, but it is reshaping how labor is distributed across the entire industry.
This shift has largely occurred quietly, manifesting at the task level, particularly in research roles that previously relied on junior analysts and intern teams. As trade execution becomes increasingly automated, traders can focus their energy on strategy and risk control rather than manual operations.
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