Huoxun Finance reported on February 23 that Backpack CEO Armani Ferrante stated in an article on the X platform that he entered the crypto space nine years ago not to issue "junk coins" or get rich quickly, but because he believed the industry would change the world. However, through multiple bull and bear markets, decentralized hype, and scams, the industry has gradually deviated from its original intentions. Most projects' promises are unfulfilled, remaining merely "promises," and the more centralized the token, the more limited its value. Apart from Bitcoin, Ethereum, and a few public chains, the actual utility of most tokens remains mere rhetoric. To address this issue, Backpack launched an innovative token model: users who stake their platform tokens for at least one year can exchange them for company equity at a fixed ratio, currently 20%. This is the first case where users can obtain company equity simply by using the product, demonstrating a long-term commitment to the community. Backpack will gradually roll out more features in the future, including centralized solutions related to some decentralized products and equity. Ultimately, the token value will not only represent a single company, but in the short term, this is the best way to demonstrate a long-term commitment to users.

Odaily Planet Daily reports that Mexico's fifth richest man has stated that users should buy Bitcoin to protect their assets from inflation, and suggests buying when prices fall. (The Bitcoin Historian)

According to an official announcement, OKX will soon launch pre-market trading for OPN (Opinion). The OPN/USDT pre-market trading will open at 20:00 (UTC+8) on February 23, 2026. Opinion Labs, powered by Binance Labs, is a decentralized blockchain platform that builds a "multi-user internet" through on-chain prediction markets, opinion trading, and voting networks, focusing on transforming ideas into tradable assets.

According to a report by QCPGroup on February 23, with Bitcoin prices still significantly below average mining costs, mining companies are facing pressure, prioritizing liquidity over hoarding strategies. Bitdeer's liquidation of its Bitcoin reserves is a recent signal of miners diversifying their risk-averse strategies and partially shifting towards AI. Bitcoin fell below $65,000 in early trading today, triggering approximately $230 million in long liquidations. The market is under pressure as it digests the new round of tariff risks. US President Trump's move to raise global tariffs from 10% to 15% further exacerbates the cooling of macro risk appetite. However, the market is not entirely bearish. This round of liquidations has had a significantly milder chain reaction than earlier this year, with the market reacting more restrainedly to news. While the options market is still pricing in downside risk, indicating a cleaner position structure, ETF fund flows appear more like basis trading liquidations rather than a complete withdrawal, reflecting an adjustment in the funding structure rather than a complete market exit.

Huoxun Finance reported on February 23 that, according to CoinDesk, data from on-chain analytics platform CryptoQuant showed that the Bitcoin balance linked to Binance exchange wallets rose to 676,834.84 BTC (approximately $44.53 billion) last Sunday, the highest level since November 2024, representing a 9.3% increase from the multi-month low of 618,782 BTC in November last year. It is unclear whether the asset has been sold off, but the market initially retreated in early Asian trading on Monday, with Bitcoin falling from $67,600 to $64,400 before rebounding slightly to around $65,850. Analysts point out that an increase in Bitcoin balances on exchanges is often seen as a potential signal of selling pressure, meaning investors may be preparing to sell the asset or use it as margin for derivatives trading, both of which typically exacerbate price volatility.