Crypto czar David Sacks: will release a statement authorizing the crypto industry to participate in a series of measures in Congress at an appropriate time

Odaily Planet Daily reports that iFlytek (NYSE: America) has completed a proof of concept (PoC) and simulated the provision of America Key4 Gold product on ZKsync Validium in a testing environment. This test aims to provide solutions regarding scalability, cost, privacy, interoperability with Ethereum, and the convenience of trading assets. ZKsync Validium is an L2 blockchain solution designed to extend Ethereum while maintaining data privacy, selected for "deploying PoC with the goal of effectively developing the network while enhancing its interoperability in testing environments America Key4 Gold provides retail and wealth customers in Switzerland with the direct right to purchase physical gold, allowing for scattered gold investments.

Odaily Planet Daily News: Enron wrote on X, "When we say maximum transparency, we are serious. Unfortunately, snipers came in early - but luckily, they are gone now. It's time to start building. We have heard your feedback regarding the 7-day lock period. The latest lock up period for the team and investors is 6 months, followed by a linear lock up period of 12 months. This represents our long-term commitment Earlier today, it was reported that X account @ Enron issued the Meme coin ENRON this morning, which has fallen nearly 75% since its high point. According to the account owner's disclosure, they spent $275 to purchase the Enron IP and domain and re registered the Enron company, so this is not the original Enron company. Users are advised to be cautious of the risks.

On February 5th, according to CNBC, payment company Stripe officially completed its acquisition of stablecoin infrastructure company Bridge for $1.1 billion on Tuesday. This is Stripe's largest acquisition transaction to date, marking its significant layout in the stablecoin field. Bridge's team of approximately 60 people has completed their onboarding at Stripe headquarters in San Francisco. Bridge focuses on helping businesses accept stablecoin payments while reducing the complexity of direct access to digital assets. Its clients include Coinbase and SpaceX. Stripe supported Bitcoin payments in 2014, but discontinued the service in 2018. The acquisition of Bridge enables it to optimize cross-border payment solutions and expand its stablecoin payment infrastructure. Currently, Stripe processes millions of cross-border transactions every day, with an annual growth rate of 50%.

The current total market value of cryptocurrencies is 3.26 trillion US dollars, with a 24-hour evaporation of 96.299 billion US dollars, a decrease of 2.87%. Among them, the market value of Bitcoin accounts for 59.51%, and the market value of Ethereum accounts for 10.23%.

Odaily Planet Daily News: According to a recent report by Glassnode, since November 2022, Bitcoin has absorbed approximately $450 billion in additional capital, bringing its total realized cap to $850 billion, making it a global macro asset of concern to countries and institutions. It stated that the growth in Bitcoin's market value has been driven by its increasingly important role on the global stage, which has attracted institutions and sovereign entities. The report emphasizes that the participation of nation states in Bitcoin is a key factor, including Bhutan's involvement in large-scale mining operations, El Salvador's establishment of Bitcoin as a legal tender, and the United States' consideration of its potential as a strategic reserve asset. In addition, Bitcoin also serves as a decentralized payment network. In the past year, the Bitcoin network has processed an average of $8.7 billion in adjusted economic transactions per day, with a total transaction volume of $3.2 trillion. The report also points out that new demand is now experiencing explosive growth, rather than continuous inflows like in previous cycles. Compared to the peak in 2021, the participation of small retail investors has decreased, while large entities have increased their holdings. Despite the favorable market conditions, Google's search interest in Bitcoin has not yet reached the level of 2021. The investor community is undergoing changes, with retail participants showing more strategic increase in holdings. The launch of the US spot Bitcoin ETF has provided institutional investors with investment opportunities, with a net inflow of over $40 billion within one year and a comprehensive asset management scale exceeding $120 billion. The Bitcoin investor community has shown resilience during the market downturn. The actual losses in the current cycle are lower than in previous cycles, with the only significant event being the yen arbitrage liquidation on August 5, 2024. The report also emphasizes that unlike past cycles, the decline of Bitcoin is more controllable and has lower actual volatility. Overall, the price trend of this cycle is characterized by a series of increases followed by a period of consolidation, with a more stable market structure due to more mature participants trading Bitcoin and other cryptocurrencies.