In the past hour, total liquidations across the network reached $10.38 million, with $9.19 million from long positions, with $1.18 million from short positions. BTC liquidation $3.64 million, ETH liquidation $2.25 million.

According to The Data Nerd, three hours ago, a whale (3NVeX) deposited 2,500 BTC into Binance, worth approximately $172.56 million. The whale's average purchase price was $81,683, resulting in a loss of approximately $31.65 million.

Huoxun Finance News, February 11th – According to Fortune magazine, stablecoin infrastructure startup Levl announced the completion of a $7 million seed funding round, led by Galaxy Ventures, with participation from Protagonist, DeusX, and BlockchainBuilders Fund, among others. The company focuses on providing stablecoin payment infrastructure for digital wallets and fintech companies, serving over 20 clients with an annualized transaction volume exceeding $1 billion. The founders stated that their platform helps clients achieve instant cross-border payments at a lower cost, without needing to build complex systems themselves. Levl plans to double its team size and focus on expanding into the Latin American and African markets.

Huoxun Finance reported on February 11th that, according to CoinDesk, Hong Kong Chief Executive John Lee delivered a brief speech at the opening ceremony of the Consensus Hong Kong conference, outlining Hong Kong's work in developing the cryptocurrency community and businesses. In his pre-recorded speech, he stated, "The Hong Kong SAR Government is committed to establishing Hong Kong as a global hub for digital asset innovation. Therefore, over the past few years, Hong Kong has been actively building a regulatory framework to promote the robust and sustainable development of the Web3 ecosystem." Lee stated that Hong Kong can leverage the advantages of the burgeoning cryptocurrency sector and benefit from its existing close connection to mainland China and the broader financial markets. He mentioned Hong Kong's efforts in the cryptocurrency field, including the digital asset regulatory policy statement released last year and work related to stablecoins. He indicated that the Hong Kong Monetary Authority is about to issue licenses to stablecoin issuers, with the first batch of licenses potentially being issued next month. Similarly, the Hong Kong Securities and Futures Commission is working to improve the liquidity of the region's virtual asset market to further "drive the development of this dynamic growth area." He emphasized that "Hong Kong is well-positioned to drive the development of Web3, and Hong Kong will continue to go all out to remain at the forefront of this key transformation in finance and technology. We welcome global businesses and institutions to join us in building a brighter digital future."

According to Bloomberg, Coinbase CEO Brian Armstrong's wealth has fallen out of the top 500 richest people in the world as cryptocurrency prices continue to decline. According to the Bloomberg Billionaires Index, his net worth has shrunk by over $10 billion in seven months, from a peak of $17.7 billion to approximately $7.5 billion. Armstrong holds about 90% of his wealth in his 14% stake in Coinbase. The stock has fallen about 60% since its peak on July 18th last year, with a single-day drop of 2.8% on Tuesday. Other cryptocurrency billionaires have also seen significant declines in their wealth. The Winklevoss brothers, co-founders of Gemini, saw their net worth fall from $8.2 billion in October last year to $1.9 billion. Galaxy Digital CEO Michael Novogratz's net worth fell from a peak of $10.3 billion to $6.2 billion. Strategy founder Michael Saylor's net worth has evaporated by about two-thirds since its July 2025 peak, currently standing at approximately $3.4 billion.