Hong Kong's SFC Allows Licensed Virtual Asset Brokers to Provide Margin Financing
On February 11, Hong Kong’s Securities and Futures Commission (SFC) released new guidance allowing licensed brokers offering virtual asset trading services (virtual asset brokers) to expand their scope to include margin financing. The regulator also established a high-level framework to guide virtual asset trading platforms in proposing leveraged virtual asset products for professional investors.
These changes align with the SFC’s ASPIRe roadmap, which focuses on diversifying product and service offerings. Under the new rules, virtual asset brokers may offer virtual asset financing to their securities margin clients—provided they meet requirements for adequate collateral and strong investor protection. This is expected to boost participation from margin clients with solid credit and collateral, while enhancing Hong Kong’s virtual asset market liquidity in a risk-controlled framework.
For licensed virtual asset trading platforms, the SFC has for the first time rolled out a high-le
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QCP: Short-Term Bottom May Be Forming as Market Expects Range-Bound Trading
QCP Capital released market analysis on its official channel on February 11, noting Bitcoin and Ethereum rebounded from last week’s lows—sparking market optimism and potentially forming a short-term bottom. QCP still expects BTC to stay range-bound as the market awaits fresh catalysts; fund inflows remain a key driver.
Yesterday, spot BTC ETFs posted a net inflow of $145 million, following Friday’s $371 million inflow—breaking the prior outflow trend and signaling a pickup in institutional demand. Spot ETH ETFs also flipped to a $57 million net inflow after three straight days of outflows, while Tom Lee’s BitMine continued accumulating, offering solid support for Ethereum.
On the macro front, marginal easing is emerging. U.S.-Iran tensions appeared to ease following Friday’s talks, and weak employment data tilted markets toward a potential Fed rate cut in March. Current focus centers on nonfarm payrolls and the CPI report—these two data points are likely to quickly reshape Fed ex
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Kyle predicts that Solana's advancement will surpass any in history, becoming the on-chain cornerstone of sophisticated financial applications
On February 11, former Multicoin co-founder Kyle Samani predicted Solana’s microstructure advancements over the next 18 months will outpace any prior period in crypto history. Key highlights to watch include:
**Alpenglow**: A major upcoming consensus mechanism upgrade—one of Solana’s largest protocol-level changes ever. It simplifies consensus logic drastically, cutting block finalization time from ~12 seconds to 100–150 milliseconds, while removing legacy components like Proof of History and Tower BFT. New block propagation and voting mechanisms will deliver ultra-low latency infrastructure for high-frequency financial apps.
**ACE (Application Control of Execution)**: A core innovation on Solana’s roadmap. Unlike traditional blockchains where validators/block producers fully control transaction ordering, ACE lets smart contracts/apps set their own transaction order, settlement logic, and priorities. This lets Solana DeFi apps customize their market microstructure—e.g., order mat
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Preview: Market Focuses on Tonight's Unemployment Rate and Non-Farm Data, with Forecasts from 32 Institutions as Follows
**U.S. January Unemployment Rate & NFP Forecasts From 32 Institutions Ahead of Tonight’s Release**
On February 11, the U.S. January unemployment rate and non-farm payrolls (NFP) data are scheduled for release at 21:30 UTC+8 tonight. Below are forecasts from 32 institutions:
### **Unemployment Rate Forecasts**
Nomura Securities: 4.3%
Bank of Canada: 4.3%
EFG Bank: 4.3%
Barclays Bank: 4.3%
UBS Group: 4.3%
ING Bank: 4.4%
ANZ Bank: 4.4%
Danske Bank: 4.4%
BNP Paribas: 4.4%
Bank of America: 4.4%
Capital Economics: 4.4%
Deutsche Bank: 4.4%
Citigroup: 4.4%
Commerzbank: 4.4%
Crédit Agricole: 4.4%
Credit Suisse Group: 4.4%
Goldman Sachs Group: 4.4%
ING International: 4.4%
JPMorgan Chase: 4.4%
Lloyds Bank: 4.4%
SMBC Nikko Securities: 4.4%
Moody’s Analytics: 4.4%
Oxford Economics: 4.4%
Morgan Stanley: 4.4%
Natixis: 4.4%
Standard Chartered Bank: 4.4%
TD Securities: 4.4%
UBS: 4.4%
Wells Fargo: 4.4%
MUFG Bank: 4.5%
Nomura Securities
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"「Strategy Opponent Position」 Stop-loss of 54 million USDT in BTC and ETH long positions, resulting in a loss of approximately 1.86 million USDT"
February 11th — Per HyperInsight monitoring, the "Strategy Whale" (0x94d…) executed a coordinated liquidation of its BTC and ETH long positions, totaling approximately $13.13 million in liquidation value.
This includes: a previously valued BTC long position ($29.94 million) and an ETH long position ($24.13 million) — both positions closed at a loss, with a total loss of roughly $1.86 million.
The address is known for aggressively opening large short positions on mainstream coins around MicroStrategy’s (MSTR) December listing. It once became Hyperliquid’s largest BTC short holder, with a position size of $120 million, before being liquidated at $3,113 — a move that significantly drained its funds.
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