Odaily Planet Daily reports that CZ recounted his early career experiences to Chamath Palihapitiya in the All-In podcast, including his time at Blockchain.info (now Blockchain.com) and OKCoin, as well as his early deep understanding of the Bitcoin industry and his value choices. Joining Blockchain.info: CZ stated that the team initially consisted of only three people, with him serving as VP of Technology. The team later expanded to 18 people, but a CFO restructuring led to a change in corporate culture, resulting in several developers, including CZ, voluntarily leaving. He emphasized that at Blockchain.info, he learned the concepts of remote work, paying salaries in Bitcoin, and how to achieve rapid user growth to approximately 2 million through "guerrilla" marketing (such as a 150-page post on BitcoinTalk.org). Joining OKCoin: After leaving Blockchain.info, He Yi contacted CZ to recruit him to OKCoin, initially offering 5% equity, but BTC China offered 10%, prompting OKCoin to match the offer within three hours. CZ ultimately chose to join OKCoin in Beijing as CTO, taking on greater business responsibilities. Reason for leaving OKCoin: CZ revealed that the main reason was the incompatibility of culture and values. For example, "The main issue is the incompatibility of culture and values. There are some practices that I cannot agree with. To give a simple example: when they do promotions or advertise fee discounts, the advertisements make it seem like everyone can enjoy them, but in reality, you have to actively apply for them to get them. It's not automatic. Details like these make me uncomfortable." CZ decided to leave in early 2015.

In the past hour, total liquidations across the network reached $52.28 million, with $50.20 million from long positions, with $2.09 million from short positions. BTC liquidation $25.50 million, ETH liquidation $12.55 million.

Odaily Planet Daily reports that Hong Kong's Securities and Futures Commission (SFC) Chief Executive Officer, Felix Leung, stated at the Consensus Hong Kong conference on February 11 that the regulator will release a "high-level framework" allowing licensed trading platforms to offer perpetual contract products. Leung pointed out that these products will initially be open only to institutional investors, not retail clients. The framework will focus on risk management, requiring platforms to have robust risk control capabilities and ensuring that trading mechanisms are fair to clients. Furthermore, the SFC will allow brokers to provide financing services to clients with good credit, with collateral including securities and virtual assets. Given the high volatility of virtual assets, initially only Bitcoin (BTC) and Ethereum (ETH) will be eligible as collateral. Regarding market-making, platforms offering such services must establish an independent market-making department and implement a strict conflict-of-interest management mechanism. Leung stated that these measures continue the SFC's roadmap for promoting the development of the local crypto market by 2025, aiming to enable compliant institutions to offer more diversified products and services.

According to data from Coinglass, as reported by Odaily Planet Daily, $124 million in positions were liquidated across the entire network in the past four hours, with $119 million in long positions and $5.15 million in short positions. Specifically, $4,818 in BTC positions were liquidated and $4,667 in ETH positions were liquidated.

According to OKX market data, BTC has fallen below 67,000 USDT and is currently trading at 66,980 USDT, a 24-hour drop of 3.39%. (This news item was generated with AI assistance.)