In the past hour, total liquidations across the network reached $10.01 million, with $8.30 million from long positions, with $1.70 million from short positions. BTC liquidation $1.84 million, ETH liquidation $3.05 million.

According to Odaily Planet Daily, Vitalik Buterin published an article on the X platform discussing the design of creator coins, pointing out that the crypto industry's overall effectiveness in content incentives over the past decade has been limited. The core problem is not insufficient content supply, but rather a lack of mechanisms for selecting and discovering high-quality content. Given that AI can generate large amounts of content at low cost, the industry's goal should shift from "incentivizing more content" to "identifying and amplifying high-quality content." Vitalik believes Substack is a relatively successful example of creator incentives, its key being proactively selecting and supporting high-quality creators through the platform, rather than relying solely on mechanism design. He points out that existing creator token projects generally suffer from a structural problem of "highly influential users dominating the leaderboards," rather than truly reflecting content quality. At the solution level, Vitalik proposes establishing a non-tokenized creator DAO, selecting creators through member voting, and maintaining clear content positioning and scale control to build stable brand and commercial bargaining power. It also allows creators to issue their own tokens. If these tokens are added to the Creator DAO, the DAO revenue can be used to buy back and burn them, transforming speculators into "predictors of high-quality creators," thereby reducing pure speculative cycles and improving the efficiency of selecting high-quality content. Vitalik stated that future effective governance mechanisms may combine prediction markets with multi-party governance structures to enhance the system's resistance to manipulation and ensure consistency of objectives.

Odaily Planet Daily reports that U.S. House Speaker Boris Johnson expressed confidence that he would secure enough votes to end the partial government shutdown by at least next Tuesday. (Jinshi)

Huoxun Finance reported on February 1st that, according to Caixin.com, within less than 24 hours from January 29th to 30th, Tokyo, Japan, and Hong Kong, both known for their good public safety, experienced a series of robberies targeting large sums of Japanese yen. The amounts stolen were 420 million yen (approximately 19 million yuan) and 51 million yen (approximately 2.29 million yuan) respectively. About six hours after the incidents, police arrested three suspects at Hong Kong International Airport who were attempting to leave the country on charges of robbery. They also arrested two employees (a 28-year-old local man and a 29-year-old mainland man) at a cryptocurrency exchange shop in Tsim Sha Tsui who assisted in handling the stolen money. Preliminary analysis suggests that the Japanese company involved may have been carrying yen to Hong Kong to exchange for Hong Kong dollars and then purchasing duty-free goods to profit from the tax differences between the two places; this route may be directly related to the cases.

According to Huoxun Finance on February 1, Arkham reported that Bhutan's sovereign wealth fund transferred approximately 100.818 BTC, worth about $8.31 million, to QCP Capital two days before the cryptocurrency market crash.