同理想维持 Perpdex 的可持续流动性和可防御的市场份额，并非通过被动的 Farming、喊单、刷量来实 现，而是通过主动构建一个极致竞争性的心理环境来达成。 通过精心设计的机制，让交易者们相互对抗，协议的机制应当是用来激发人类最强大的内在驱动力—— 贪婪和不甘心——来创造一个自我延续的交易活动飞轮，从而摆脱对通胀性代币释放的过度依赖，最终 实现真正的市场稳定性。 一、 伟大的博弈：解构交易的零和现实 （来源：吴说） 作者：@agintender 链接：https://x.com/agintender/status/1975136198911029405 初中化学提到要想让吹出来的泡泡更稳定、更持久，就要在在溶剂中加入聚乙烯吡咯烷酮 （Polyvinylpyrrolidone，简称 PVP）——是一种增稠剂和泡沫稳定剂，为泡沫提供结构和持久性，使其 能够维持形态，抵抗外部压力。 交易的本质是一场零和博弈，不是你亏就是我赚，没必要遮遮掩掩，粉饰太平。 Meme：最原始的 PvP 竞技场 Meme 的交易生态是 PvP 原则最纯粹、最不加掩饰的体现。与那些声称拥有潜在效用或现金流的资产不 同，Meme 的价值 ...

新华财经纽约1月31日电（记者刘亚南） 受市场对美联储货币政策"鹰派"预期影响，比特币等主要加密 货币价格1月31日大幅下挫。 美国加密货币交易平台克拉肯网站数据显示，比特币价格当天下午一度跌至77082.48美元，在过去24小 时最大跌幅达8.32%。以太币价格一度跌至2354.67美元，过去24小时最大跌幅达12.84%。 数据显示，索拉纳币、狗狗币和币安币等代币价格均大幅下挫。 分析人士认为，美国总统特朗普30日宣布提名美国联邦储备委员会前理事凯文·沃什为下任美联储主 席，市场对美联储未来货币政策"鹰派"预期浓厚，刺激美元显著走强和贵金属价格大幅回调，高风险、 高波动的加密货币也遭到抛售。 新加坡10x研究公司创始人马库斯·蒂伦说，市场对沃什货币政策偏向"鹰派"的预期使加密货币不被视 为"抵御货币贬值的手段"，而是被视作一种"投机性过剩的资产"。一旦宽松货币政策结束，相关投机行 情便会退潮。 （文章来源：新华社） ...

Core Viewpoint - Bitget has been consistently increasing its Bitcoin holdings over the past year, indicating a positive trend in the platform's BTC inventory [1] Group 1: Bitcoin Holdings - As of January 2025, Bitget holds approximately 11,127 BTC, which is projected to increase to about 21,889 BTC by January 2026 [1] - The platform's BTC holdings reached a peak of approximately 23,276 BTC in December 2025 [1]

Core Viewpoint - Binance attributes the record $19 billion liquidation event on October 10 to a combination of macroeconomic risks, high leverage, and liquidity exhaustion, denying that core system failures were the main cause, although this explanation has not quelled industry concerns regarding its marketing strategies and market influence [1][4]. Group 1: Market Dynamics - On October 10, global markets were under pressure due to tariff-related news, leading to over $100 billion in unliquidated Bitcoin derivatives and a rapidly shrinking order book, which together triggered a chain liquidation [2][3]. - The sell-off was self-reinforcing, as market makers initiated automatic risk controls and reduced exposure, causing liquidity to vanish from the order book, with Kaiko data indicating that buy depth nearly disappeared during peak volatility [2]. - The turmoil extended beyond the cryptocurrency market, with the U.S. stock market losing approximately $1.5 trillion that day, marking the largest single-day drop for the S&P 500 and Nasdaq indices in six months [2]. Group 2: Platform Issues and Compensation - Binance acknowledged two specific platform incidents during the crash but asserted that these did not cause broader market volatility. The first incident involved a slowdown in internal asset transfer systems, affecting transfers between spot, wealth management, and futures accounts, which was attributed to database performance issues under increased traffic [3]. - The second incident involved temporary index deviations for USDe, WBETH, and BNSOL, occurring after most liquidations had already taken place, which Binance claims was due to thin liquidity and delays in cross-exchange rebalancing [3]. - Binance has compensated users over $328 million and initiated additional support plans to stabilize affected participants, with total compensation reaching approximately $600 million post-crash [3]. Group 3: Leadership Statements - Binance co-founder Zhao Changpeng denied that the platform was a key driver of the liquidation wave, labeling ongoing accusations as "far-fetched" and confirming that users affected by platform issues had been compensated [4][5]. - Zhao Changpeng, who resigned as CEO in November 2023, acknowledged failures in maintaining effective anti-money laundering protocols, with Binance Holdings agreeing to hire an independent compliance overseer [5]. - OKX CEO Xu Mingxing criticized Binance's "irresponsible marketing activities" for triggering the crash, particularly pointing to the promotion of high-yield products linked to the USDe stablecoin, which he claimed led to a "leverage cycle" that exacerbated the market's vulnerability [6].

据 Arkham 数据，Abraxas Capital 旗下 Heka 基金约 2 小时前向 Kraken 转入 2,000 个 BTC。Heka 是 Abraxas Capital 旗下的核心量化/系统化交易基金，主要面向 BTC、ETH 等主流加密资产及其衍生品。 （来源：吴说） ...

（来源：吴说） 吴说获悉，据 @gmgnai 监控，Binance 创始人 CZ 在 1 月 31 日 15:03 UTC+8 取关了 Solana 联创 toly。而在 当日早些时候（10:27 UTC+8），toly 转发了 OKX 创始人批评 Binance 的文章。此前社区有建议认为 Binance 作为平台应该公平对待每一个生态，而不是主要侧重 BNB Chain。 ...

据 SolanaFloor 消息，Solana 生态交易平台 Jupiter 推出 Q4 质押 ASR 奖励后引发社区争议，因用户需在 Jupiter 钱包中导入助记词才能领取奖励，被认为存在安全隐患，并对使用无私钥或托管钱包的用户不友 好。Jupiter 回应称，将于 1–2 周内支持从其他钱包直接领取奖励。 （来源：吴说） ...

（来源：吴说） 吴说获悉，美国财政部外国资产控制办公室（OFAC）对英国加密货币交易所 Zedcex 和 Zedxion 实施制 裁，理由是它们帮助伊朗规避制裁。这是 OFAC 首次因数字资产交易所涉足伊朗金融领域而对其进行 制裁。 此外，还有七名伊朗个人（其中六人与伊朗伊斯兰革命卫队有关联）以及据称被释放出狱为伊朗政权洗 钱的巴巴克·赞贾尼也被列入名单。名单上的七个地址经手的资金超过 3.89 亿美元。 ...

（来源：吴说） 吴说获悉，Binance 发布声明称，2025 年 10 月 10 日的加密市场闪崩并非由平台系统故障引发，而是由 贸易战相关宏观冲击、高杠杆头寸集中去杠杆、做市商在极端波动中收缩流动性，以及以太坊网络拥堵 影响跨平台套利等因素共同导致；声明同时确认，平台在极端行情下出现两项独立技术事件，包括 21:18–21:51 UTC 期间资产划转子系统性能下降，以及 21:36–22:15 UTC 期间 USDe、WBETH、BNSOL 指数在流动性显著变薄时出现异常偏离。Binance 强调，上述问题发生时主要去杠杆已完成，未构成闪 崩成因，并已完成用户补偿并强化系统与指数风控机制。 ...

1 月 30 日，Binance 宣布将原 10 亿美元规模的稳定币储备逐步转换为比特币，计划 30 天内完成；若因波动市值低于 8 亿美元，将补充 BTC 恢复至 10 亿美元。 究竟是怎么回事？ 1月28日，易理华发文表示，Tether与币安等成为行业抽水泵，在赚取百亿美元利润下，并没有表率担任行业建设的担当。并建议CZ与何一应将某安的 利润用于买入BTC与ETH，实现当初承诺的建设加密行业的口号。 ...