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Growing doubts about the profitability of Big Tech's AI investments and the resulting decline in tech stocks have triggered a sharp downturn in the cryptocurrency market, according to an analysis by DL News. Kraken Vice President Matt Howells-Barby noted that concerns over Big Tech's AI investments failing to generate expected returns are unsettling the broader risk asset market. He suggested that Bitcoin could potentially fall below the $80,000 level again. The report highlighted that Microsoft (MSFT) saw its market capitalization decrease by approximately $357 billion in a single day due to a drop in its stock price. This has fueled a wider risk-off sentiment, with even the price of gold falling by nearly 3% as investors hedge against market risks. Adding to the market uncertainty are renewed fears of a U.S. federal government shutdown. Amid these pressures, the total cryptocurrency market capitalization has fallen below the $3 trillion mark.

Binance plans to complete repayments to users of the South Korean exchange Gopax's GoFi service this year and aims to become the top exchange by market share in the country, The Block exclusively reported. In an interview with the publication, SB Seker, Binance's Head of Asia Pacific, stated that once the GoFi repayment process is finished, the company will introduce its global standard technology and security systems to Gopax. The focus will then shift to new business areas such as stablecoins, real-world asset (RWA) tokenization, and attracting institutional investors. Seker added that Binance intends to expand its business over the next 12 months to challenge the market currently dominated by Upbit and Bithumb, expressing confidence in its ability to navigate regulatory risks like restrictions on major shareholder stakes. GoFi funds were frozen in 2023 after its partner, Genesis Global Capital, halted withdrawals. Binance's acquisition of a stake in Gopax initiated a rescue plan, but the process was delayed by a holdup in local regulatory approval. The repayment wallet currently holds 11 cryptocurrencies, including 775.11 BTC, 5,766.62 ETH, and 706,184 USDC. Binance plans to repay users in the original quantity of their crypto assets, not their equivalent value in Korean won.

Binance has announced it will list perpetual futures for Intel (INT) and Robinhood (HOOD) stocks on Feb. 2. The INT/USDT contract is scheduled to go live at 2:30 p.m. UTC, followed by the HOOD/USDT contract at 2:45 p.m. UTC. This follows an earlier announcement from the exchange that it would support trading for Astar-based U.S. stock perpetual futures.

Ethereum founder Vitalik Buterin announced on X that he will commit 16,384 ETH from his holdings to support the open-source hardware and software ecosystem. The move comes as the Ethereum Foundation (EF) enters a period of moderate fiscal tightening. Buterin stated the decision is aimed at completing Ethereum's roadmap, which seeks to balance performance and scalability with robustness, sustainability, and decentralization. He added that the goals also include ensuring the foundation's long-term viability and protecting user sovereignty and privacy. Looking ahead, Buterin plans to focus investments on open silicon, encrypted messaging, and privacy-preserving operating systems, rather than corporate-led closed ecosystems. He emphasized that Ethereum will be the central axis of this effort, built as a decentralized collaborative infrastructure.

Tron founder Justin Sun announced on X that the project will increase its Bitcoin holdings at the request of Binance. The move follows Binance's recent announcement that it is adjusting the asset structure of its Secure Asset Fund for Users (SAFU) by gradually converting its $1 billion stablecoin reserve into BTC.

BitMEX co-founder Arthur Hayes stated on X that the recent decline in Bitcoin (BTC) is unsurprising amid a contraction in U.S. dollar liquidity. He noted that dollar liquidity has fallen by approximately $300 billion in recent weeks, while the U.S. Treasury General Account (TGA) balance has increased by about $200 billion. Hayes suggested this is likely due to the U.S. government securing cash in preparation for a potential shutdown.

During a CoinNess Night Live event on Jan. 29, Brevis CEO and co-founder Michael explained that the project is a verifiable computing platform based on zero-knowledge (ZK) proofs. It processes complex, costly, and slow computations off-chain, then uses a small cryptographic proof to verify the results on-chain. Michael described the project's "infinite computing layer" as a structure where the blockchain only verifies proofs rather than re-executing computations. This model allows for virtually unlimited off-chain scaling of high-cost operations like transaction history analysis, AI inference, and cross-chain verification. He noted that Brevis technology is already being used for functions such as volume-based fee discounts and reward distribution, with users experiencing the benefits seamlessly as all calculations are handled off-chain and verified with ZK proofs. Key products from Brevis include: - Pico: A Rust-based modular zkVM that proves Ethereum blocks in real-time. - ZK Data Coprocessor: Enables smart contracts to trustlessly access historical on-chain data. - ProverNet: A decentralized marketplace for ZK proof generation, currently live on mainnet. - Incentra: A trust-minimized platform for incentive distribution using off-chain computation. Regarding its role in the Ethereum Foundation's roadmap, Michael stated that Pico is already operational within the Ethproofs infrastructure. Brevis is working to enable faster proofs on lighter hardware, aiming for a future where anyone can participate in Ethereum validation from a mobile device. He also revealed that Brevis is testing its Pico Prism in a 16 GPU environment, down from the previous 64 GPUs, to make Ethereum block proofs cheaper and more accessible. The project is also preparing to integrate new functionalities related to privacy and AI verification.

Crypto analyst and IntoTheCryptoverse founder Benjamin Cowen has suggested that Bitcoin (BTC) may continue to underperform the stock market as the current cycle concludes. According to Cointelegraph, Cowen said in a recent video that Bitcoin will likely continue to show weakness against stocks. He added that a capital shift from gold and silver to Bitcoin is unlikely in the short term, cautioning against the optimistic view that a rally in precious metals would immediately lead to a rise in Bitcoin.

South Korean crypto exchange Upbit has announced it will delist GoChain (GO) at 6:00 a.m. UTC on March 3. The exchange explained that after reviewing the virtual asset's trading and adoption status, it identified numerous shortcomings and a potential for harm to users.

The South Korean cryptocurrency exchange Coinone said on its official website that Trust Wallet Token (TWT) will remain on the exchange’s delisting watchlist for another month.

The following are the long/short position ratios for BTC perpetual futures over the last 24 hours on the world's top three crypto futures exchanges by open interest: Overall: 47.57% long, 52.43% short 1. Binance: 46.95% long, 53.05% short 2. OKX: 47.61% long, 52.39% short 3. Bybit: 46.97% long, 46.97% short

The growing possibility that former Federal Reserve Governor Kevin Warsh could be named the next Fed Chair is intensifying downward pressure on Bitcoin, Coindesk reported. Markus Thielen, founder of 10x Research, noted that Warsh favors higher real interest rates and reduced liquidity, viewing cryptocurrencies as speculative instruments that will vanish once the era of low interest rates ends. Separately, Renaissance Macro Research analyzed that Warsh has consistently advocated for hawkish monetary policy throughout his time as a Fed governor, particularly during periods of labor market collapse. The research firm suggested his current dovish stance is a matter of convenience and that there is a risk President Trump could be misled by his intentions. President Trump is expected to announce his nominee for the position tomorrow.

Cardano founder Charles Hoskinson announced that the platform will support USDCx, a bridged version of Circle's USDC stablecoin.

Binance has announced it will list XPT/USDT perpetual futures at 10:00 a.m. UTC today, followed by XPD/USDT perpetual futures at 10:15 a.m. UTC. Both contracts will support up to 100x leverage.

The Korea Financial Investment Association (KOFIA) announced a reorganization on Jan. 30 that includes the creation of a new Digital Strategy Team to support its member firms' expansion into digital assets, Dailian reported. The new team will operate within the Industry Cooperation Department under the newly established K-Capital Market Division, which will also oversee pensions and taxation. Its primary goal is to assist member companies with their business in areas such as security tokens and other virtual asset-related financial products.

South Korean crypto exchanges Upbit, Bithumb, and Korbit have placed Loopring (LRC) on a delisting watchlist. The exchanges said the decision followed a review that found insufficient disclosure of information that could materially affect the token’s value, as well as shortcomings identified during an assessment of the project’s business progress.

Decentralized satellite internet project SpaceCoin (SPACE) has announced a partnership with Midnight, a privacy-focused blockchain led by Cardano (ADA) founder Charles Hoskinson. The two companies will conduct a joint review to develop privacy messaging technology based on satellite infrastructure. Their initial priority is to implement a peer-to-peer messaging application that does not rely on centralized servers. The collaboration will explore using Midnight's zero-knowledge proof (ZKP) technology, which would allow users to verify their authorization to communicate without exposing sensitive information such as their identity or location.

Binance has announced a restructuring of its Secure Asset Fund for Users (SAFU), gradually converting its $1 billion in stablecoin holdings to BTC. The exchange also stated that if the fund's market value falls below $800 million due to BTC price volatility, it will inject additional BTC to restore its value to $1 billion.

According to CoinNess market monitoring, BTC has risen above $83,000. BTC is trading at $83,011.84 on the Binance USDT market.

U.S. spot ETH ETFs recorded a total net outflow of $178 million on Jan. 29, marking a return to outflows after a single day, according to data from TraderT. Major fund outflows included $59.19 million from Fidelity's FETH, $55.22 million from BlackRock's ETHA, $26.49 million from Grayscale's ETHE, and $21.92 million from Grayscale's Mini ETH Trust.

U.S. spot Bitcoin ETFs experienced a net outflow of approximately $818 million on Jan. 29, marking the third consecutive day of net outflows, according to data compiled by TraderT. Specific fund outflows included $317 million from BlackRock's IBIT, $168 million from Fidelity's FBTC, $88.88 million from Bitwise's BITB, and $71.58 million from Ark Invest's ARKB.

Cryptocurrency exchange Backpack announced via its official X account that it will unlock 25% of its total supply at its upcoming Token Generation Event (TGE). Of this initial unlock, 24% will be allocated to points holders and 1% to holders of Mad Lads NFTs. Backpack CEO Armani Ferrante said the company will release its tokenomics in stages as the TGE approaches. He added that the token will be distinct from existing tokens in its distribution, utility, and functionality, suggesting it may even require a new name. The launch date for the token has not yet been disclosed.

Bitcoin has fallen out of the list of the top 10 largest assets by market capitalization amid its ongoing price decline, The Block analyst BR reported. The cryptocurrency is now ranked 11th, behind Saudi Aramco.

A whale address that had been dormant for two years swapped 699 ETH for $1.876 million in USDC and deposited the funds into Hyperliquid. The address then opened a 20x leveraged ETH long position valued at approximately $18 million, according to Onchain Lens.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $768 million liquidated (96.96% longs) - ETH: $417 million liquidated (93.7% longs) - XRP: $71.32 million liquidated (99.05% longs)