Yi He's Reflection on Clearing Inventory: Entering a Bear Market is the Best Timing for Positioning, Still Optimistic about the Industry's Next Bull Market Opportunity

On February 8, encrypted journalist Eleanor Terrett disclosed details of a White House cryptocurrency meeting set for next Tuesday. This marks the second meeting in a series, held again at the staff level—no CEOs of crypto or other firms have been invited, but senior policy officials from various banks will attend. Insiders say large banks including Bank of America, JPMorgan Chase, and Wells Fargo have been invited, with PNC Bank, Citigroup, and U.S. Bancorp also potentially included. Banking industry groups set to participate include the Bank Policy Institute, American Bankers Association, and Independent Community Bankers of America—though each is expected to send fewer representatives than usual. Banks are pushing to restrict crypto firms from offering interest on stablecoins, arguing the practice threatens their core business. They fear large sums flowing into high-yield crypto accounts will drain bank loan funds and trigger broader financial instability. Crypto firms, meanwh

On February 8, South Korean crypto exchange Bithumb released a post-incident report on its "accidental Bitcoin airdrop." That same day, 99.7% of the mistakenly airdropped Bitcoin was swiftly recovered. The remaining 0.3% (roughly 1,788 BTC) had been sold, and the shortfall was fully covered using Bithumb’s own funds. As of 10:42 PM KST on February 7, 2026, Bithumb’s Bitcoin asset reconciliation was fully restored to 100%, ensuring all client assets were protected. South Korea’s Financial Supervisory Service (FSS) conducted an on-site inspection at the exchange on February 7 at 1:00 PM KST. Bithumb also announced targeted compensation: - Each user who accessed the Bithumb app or website during the incident will get 20,000 South Korean won. - Users who sold Bitcoin at a depressed price during the incident will be reimbursed 100% of their actual price difference, plus an extra 10% as a goodwill gesture. - All trading pairs on the platform will have zero transaction fees for 7

February 8 — U.S. Treasury Secretary Janet Yellen told a congressional hearing on February 4 that neither the Treasury Department nor the Financial Stability Oversight Council (FSOC) has the authority to “bail out” Bitcoin or require banks to hold it as part of their reserves. Yellen stressed that U.S. taxpayer dollars will not be invested in crypto assets. She noted that Bitcoin currently held by the U.S. government stems from law enforcement seizures — a clear distinction from funds managed on behalf of taxpayers.

On February 8th, on-chain analyst Ai Auntie (@ai_9684xtpa) reported that Trend Research—a subsidiary of Yihua—transferred its final 0.148 ETH to an exchange, concluding an 8-day sell-off. Over the period, the firm sold 658,168.58 ETH total, valued at $1.354 billion. With an average entry cost of ~$3,104.36 per ETH and an average selling price of $2,058.05, the round incurred a $688 million loss. Notably, Trend Research has surrendered all $315 million in profits from its prior cycle, resulting in a cumulative net loss of $373 million.

**February 8th** Du Jun, co-founder of ABCDE, retweeted a screenshot from Li Lin’s WeChat Moments to clarify recent claims. Li Lin stated in the post: “I am not the investor behind Yi Lihua’s Trend Research, nor am I linked to Garrett Jin—the agent of ‘BTC OG Whale Insider.’ I have never reduced my BTC or ETH holdings in this market cycle.” Du Jun added further context: - Li Lin’s family office, Avenir Group, remains BlackRock’s IBIT’s largest Asian holder. - U.S. SEC 13F reports are updated quarterly. - ~80% of the ETH held by the family office is pledged and held long-term. - To his knowledge, 95% of the funds are managed by the family office’s in-house team—no external institutions or individuals are entrusted with management.

On February 8, Scam Sniffer released its January 2026 Security Report, highlighting key crypto-related security incidents from the month. A January victim lost $12.25 million after copying an incorrect address from a transaction record—mirroring a $50 million loss suffered by another user in December 2025 for the same mistake. Additionally, signature phishing attacks spiked in January: 4,741 people fell victim, losing a combined $6.27 million—up 207% from December 2025.