Gate Crypto Flash News and Market Updates

BlockBeats News, February 12 — Bitwise CEO Hunter Horsley stated, "One of Bitwise's wealth management clients had never allocated any assets to cryptocurrencies when they first contacted Bitwise two years ago. Today, as the market retraces, this client has invested $11 million in Bitcoin. For many investors who have yet to enter the crypto market, market retracements present an opportunity."

On February 12, the U.S. Department of Justice announced a $4 million fine against peer-to-peer encryption platform Paxful. The company previously admitted that, lacking anti-money laundering and customer due diligence mechanisms, it had long transferred funds for criminals and profited directly from it. The related funds are said to be connected to human trafficking, scams, extortion, and illegal prostitution activities. Prosecutors disclosed that between January 2017 and September 2019, Paxful facilitated over 26 million transactions totaling nearly $3 billion, earning approximately $29.7 million in revenue. The Department of Justice pointed out that the company had promoted its platform as "no identity information required" and issued anti-money laundering policies that were not actually enforced, thereby attracting high-risk customers.

Co-Executive Director of the Ethereum Foundation, Wang Xiaowei, stated at the Consensus 2026 conference that currently no other L1 can compete with Ethereum. She emphasized the importance of censorship resistance and privacy protection tools, as well as application layer innovation, especially in the future development of identity.

Gate News Bot Message, February 12 — According to CoinMarketCap data, ON (Orochi Network) is currently trading at $0.07, up 20.08% in the past 24 hours. The price reached a high of $0.08 and fell back to a low of $0.06. The 24-hour trading volume is $2.33 million. The current market capitalization is approximately $11.11 million, an increase of $1.86 million from yesterday. Orochi Network is the world's first verifiable data infrastructure, dedicated to solving Web3's limitations in computation, data correctness, and data availability through zero-knowledge proof (ZKP) technology. The network provides the highest level of data and digital asset security by adopting MPC and ZKP, while supporting high-performance applications with data availability layers and trustless randomness from distributed sources. Orochi Ne

At the Hong Kong Consensus 2026 conference, leaders from Bitkub, Coinhako, and Coins.ph discussed the current state of Southeast Asia's crypto market, noting that there are over ten million users who are shifting from speculation to commercial applications. Each company is promoting stablecoins and commercialization, actively expanding the market.

ChainCatcher message, according to Jinshi reports, the USD/JPY (US dollar to Japanese yen) has fallen by 0.5% intraday, currently at 152.46.

ChainCatcher message: According to Web3 asset data platform RootData's token unlock data, RateX (RTX) will unlock approximately 1.23 million tokens at 9:00 AM Beijing time on February 19, valued at about $3.08 million.

ChainCatcher message: According to Web3 asset data platform RootData's token unlock data, zkPass (ZKP) will unlock approximately 16.62 million tokens, worth about $1.52 million, at 11:00 AM Beijing time on February 19.

ChainCatcher News reports that according to Web3 asset data platform RootData's token unlock data, Quai Network (QUAI) will unlock approximately 43.02 million tokens, valued at about $2.28 million, on February 19th at 21:00 Beijing time.

On February 5th, Bitcoin's price dropped from $70,000 to $60,000, with on-chain realized losses reaching $3.2 billion, marking the largest single-day loss in history. This sell-off is analyzed as a typical capitulation event, potentially signaling the bottom of the bear market.

Gate News Bot Message, February 12 — According to CoinMarketCap data, as of press time, BLESS (Bless) is reported at $0.00 USD, up 39.74% in the past 24 hours, with a high of $0.01 USD and a low back down to $0.00 USD. The current market cap is approximately $12.4 million, an increase of $3.54 million from yesterday. Bless is the world's first shared computer network. Users can share their device's idle computing resources by installing a browser extension or desktop application to earn rewards. The network supports various applications such as AI model training and inference, gaming infrastructure, data processing, and scientific research computing, while also providing behavior data market insights based on user consent. Bless has over 5 million user-maintained nodes, offering on-demand GPU/CPU computing resources to users worldwide, with ultra-low latency and zero downtime.

Last week, the cryptocurrency market experienced intense volatility, with Bitcoin plummeting from around $70,000 to $60,000 in a short period, triggering the largest "realized loss" event in history. On-chain analysis platform Glassnode shows that the adjusted realized losses reached as high as $3.2 billion, setting a new record for the Bitcoin network. This metric measures the USD value of Bitcoin sold below cost and excludes the impact of transfers within the same entity, thus providing a more accurate reflection of genuine selling pressure. This figure even exceeds the approximately $2.7 billion loss during the 2022 LUNA collapse, indicating that the current downward sentiment shock has surpassed the darkest phase previously experienced. Data platform Checkonchain pointed out that this market movement exhibits typical "capitulation sell-off" characteristics: rapid decline, large transaction volumes, mainly driven by holders with the weakest conviction being forced to liquidate.

PANews February 12 News, according to Lookonchain monitoring, trader 0x4321, who previously lost $3.2 million from shorting BTC, has reappeared after more than 2 months of silence. He has just opened a 10x leveraged short position with 99 BTC (worth $6.7 million). Liquidation price: $76,202.53.

Foresight News reports that the decentralized trading platform Lighter has added support for Korean stock trading. This includes HYUNDAI, SAMSUNG, SKHYNIX, and KRCOMP (Korea Composite Index), with a maximum leverage of 10x.

Gate News Bot Message, February 12 — According to CoinMarketCap data, TAKE (OVERTAKE) is currently priced at $0.04, up 91.31% in the past 24 hours. The highest price reached $0.04, while the lowest dropped to $0.02. The 24-hour trading volume is $5.07 million. The current market capitalization is approximately $7.85 million, an increase of $3.75 million from yesterday. OVERTAKE is a peer-to-peer blockchain gaming asset trading platform built on the Sui chain, dedicated to bringing true ownership into the digital asset space and connecting Web2 and Web3 gaming economies. Through multi-signature smart contract escrow mechanisms, it offers players a secure, low-cost experience for trading game items, accounts, and currencies, focusing on the multi-billion dollar Web2 gaming asset market. The platform provides a Marketplace trading platform, Tak

Elon Musk announced that the built-in payment system XMoney within the X platform has completed internal closed testing. A limited external beta is expected to be launched in the next 1 to 2 months, followed by gradual rollout to users worldwide. This feature is positioned as a core financial module in the X ecosystem, supporting in-app peer-to-peer transfers and various currency trading scenarios. Musk stated that XMoney will be deeply integrated with communication features like XChat to form a unified "in-platform financial hub," encouraging users to continuously use X across social, payment, and communication scenarios. He emphasized that the goal is to enable users to "accomplish everything they need in life within a single app" and to drive the platform toward a long-term vision of over 1 billion daily active users.

BlockBeats News, February 12th, according to Coinglass data, over the past 24 hours, the entire network experienced liquidations totaling $471 million, including $299 million in long positions and $172 million in short positions. In the last 24 hours, a total of 149,680 people worldwide have been liquidated, with the largest single liquidation occurring at Hyperliquid - BTC-USD, valued at $11.8609 million.

Gate News Bot Message, February 12th, according to CoinMarketCap data, as of press time, PIPPIN (pippin) is currently trading at $0.51, up 30.06% in the past 24 hours, with a high of $0.52 and a low of $0.16. The 24-hour trading volume reached $69 million. The current market capitalization is approximately $511 million, an increase of $118 million from yesterday. Pippin is a community project called "Wobbly Worlds," dedicated to creating a gentle and charming ecological space, where gentle miracles foster intangible connections, and friendly words bloom like flowers. The project is symbolized by the Pippin unicorn, integrating the technical foundation of the BabyAGI framework to build a complete ecosystem that includes tokens, unicorn culture, and innovative frameworks.