Weekly Preview | Flying Tulip will conduct TGE on February 23; NVIDIA releases earnings report

News Preview:

Flying Tulip will conduct TGE on February 23;

Alchemy Pay plans to launch the L1 public chain Alchemy Chain testnet on February 23;

U.S. President Trump will deliver the State of the Union address on February 24; on the same day, the U.S. will impose a 10% temporary tariff on some imported goods;

Nvidia will release earnings after market close on February 25;

Jupiter (JUP) will unlock approximately 253 million tokens, about 7.94% of its circulating supply, worth approximately $39.3 million, on February 28, 10 PM Beijing time;

Sui (SUI) will unlock about 43.35 million tokens, approximately 1.13% of its circulating supply, worth about $40.46 million, on March 1, 8 AM Beijing time.

February 23

Special Focus:

Trump considers limited military strikes on Iran; Iran’s Foreign Minister states a draft agreement with the U.S. will be finalized before the 23rd.

On February 20, U.S. local time, Trump stated he is considering a “preliminary limited military strike” on Iran to pressure Iran into accepting U.S. demands regarding the nuclear deal. Iran’s Foreign Minister said Iran’s peaceful nuclear program has no military solution, and the only way forward is diplomacy, with a draft agreement with the U.S. to be finalized within three days (by February 23).

Project Updates:

Flying Tulip to conduct TGE on February 23

Founded by Andre Cronje, the on-chain financial system Flying Tulip announced that FT tokens will go on public sale on February 16 and conduct TGE on February 23. Previously, Flying Tulip completed a token sale on CoinList, with commitments nearing $10 million.

Alchemy Pay plans to launch the Alchemy Chain testnet on February 23

Crypto payment provider Alchemy Pay announced plans to launch the Alchemy Chain L1 public chain testnet on February 23. The chain will be built on the Solana Virtual Machine architecture and will offer a payment system allowing users to transact with fiat and cryptocurrencies for large-scale commercial applications.

HyperLiquid to conduct validator voting on delisting OM on February 23

HyperLiquid announced on X platform that validators will vote around 8:00 UTC (4:00 PM Beijing time) on February 23 whether to delist OM. If validators recently decide to delist OM, traders should settle their positions to the 1-hour time-weighted spot oracle price before delisting and cancel all open orders. Early closing is advised to avoid automatic settlement. After settlement, no new orders will be accepted.

NFT trading platform Nifty Gateway announces closure and advises users to withdraw assets before February 23

Nifty Gateway announced its closure and recommends users withdraw assets before February 23. Nifty Gateway, one of the early NFT trading and management platforms, was acquired by cryptocurrency exchange Gemini in 2019.

February 24

Policy & Regulation:

U.S. White House: Temporary 10% tariffs on some imported goods effective from February 24

The White House issued a statement that President Trump signed a new proclamation imposing a 10% import tariff on goods imported into the U.S. for 150 days, effective from 12:01 AM EST on February 24. The White House stated that this tariff decision aims to “address fundamental international payment issues.”

Additionally, President Trump will deliver the State of the Union address on February 24, outlining policy priorities for the coming year.

U.S. SEC delays decision on increasing IBIT options position limit, new deadline February 24

The U.S. Securities and Exchange Commission (SEC) has extended the review period for a rule change proposal submitted by Nasdaq ISE. The proposal aims to increase the position and exercise limits for iShares Bitcoin Trust (IBIT) options from 250,000 contracts to 1,000,000 contracts. The SEC has extended the decision deadline to February 24, 2026, to allow sufficient time to assess the impact of the significant relaxation of limits.

Project Updates:

Fabric Foundation opens ROBO airdrop registration, deadline February 24

Fabric Foundation has opened registration and review channels for the ROBO airdrop. Users can link their wallets, X accounts, Discord accounts, and Github accounts from 11:00 AM Beijing time on February 20 to 11:00 AM on February 24. Airdrop amounts will be announced upon distribution.

February 25

Focus:

Nvidia will release earnings after market close, with performance and guidance not only affecting its stock price but also directly influencing investment sentiment across the AI industry chain.

Macro Policy:

Hong Kong Financial Secretary Paul Chan: New fiscal year budget to be announced on February 25

Hong Kong Financial Secretary Paul Chan released a note revealing that the new fiscal year budget will be announced on February 25. Benefiting from a booming financial market, including increased revenue from stamp duties, the government’s operating surplus is expected to resume early. Despite increased investment in public works, the capital account will still record a deficit. Chan previously mentioned that he supports gradually developing stablecoins, considering pegging them to gold or other assets after initial steps, emphasizing cautious handling.

Token Unlocks:

Humanity (H) will unlock approximately 105 million tokens, about 4.37% of its circulating supply, worth approximately $17.1 million, at 8 AM Beijing time on February 25.

February 26

Exchanges:

Cryptocurrency exchange ProBit Global will cease all services on February 26, urging users to withdraw assets promptly.

ProBit Global announced on December 31, 2025, that due to rapidly changing regulatory environments and strategic restructuring, all platform services will officially end starting from 8:00 AM UTC+8 on February 26, 2026. Spot trading will cease at 8:00 AM UTC+8 on January 28, 2026, with standard withdrawal services remaining open until 7:59 AM UTC+8 on February 26, 2026. Users are strongly advised to complete withdrawals before this deadline to avoid potential asset loss or management fees.

The asset return period is extended from 8:00 AM UTC+8 on March 1, 2026, to 7:59 AM UTC+8 on April 1, 2026. Unwithdrawn assets after the standard withdrawal period will be considered inactive, and remaining assets will incur maintenance fees to cover infrastructure and custody costs, starting strictly from 8:00 AM UTC+8 on March 1, 2026. According to the terms of service, any assets not withdrawn before 7:59 AM UTC+8 on April 1, 2026, will be deemed abandoned and permanently lost.

U.S. House members request investigation into WLFI bank license application, response due by February 26

Over 40 Democratic House members jointly wrote to Treasury Secretary Janet Yellen on February 19, requesting an investigation into the federal bank license application of World Liberty Financial (WLFI), a crypto company under the Trump family, citing potential conflicts of interest and national security concerns. WLFI is currently applying for a national bank charter with the Office of the Comptroller of the Currency (OCC). The lawmakers call for a suspension of the review process and clarification on whether the White House and Treasury Department are involved in the approval process, with a written response due by February 26.

February 27

Macro Economy:

U.S. releases January PPI data

Exchanges:

FTX users and law firm Fenwick & West reach settlement agreement in principle regarding their roles in the FTX incident; formal settlement filed on February 27

FTX users have reached a settlement in principle with law firm Fenwick & West concerning their involvement in the FTX case. Both parties plan to file a formal settlement agreement and seek approval from the U.S. District Court in Florida on February 27. Details of the settlement are not yet public. The lawsuit was initially filed in 2023, accusing Fenwick & West of providing “key assistance” in FTX’s fraudulent scheme.

Project Updates:

IREN to be included in MSCI US Index on February 27

Data center operator and Bitcoin miner IREN will be added to the MSCI US Index after market close on February 27.

February 28

Token Unlocks:

Jupiter (JUP) will unlock approximately 253 million tokens, about 7.94% of its circulating supply, worth approximately $39.3 million, at 10 PM Beijing time.

Grass (GRASS) will unlock about 55 million tokens, approximately 13.15% of its circulating supply, worth about $10.1 million, at 9:30 PM Beijing time.

March 1

Token Unlocks:

Sui (SUI) will unlock about 43.35 million tokens, approximately 1.13% of its circulating supply, worth about $40.46 million, at 8 AM Beijing time.

EigenCloud (EIGEN) will unlock about 36.82 million tokens, approximately 8.15% of its circulating supply, worth about $6.8 million, at 12 PM Beijing time.