S&P 500 Index futures rose 0.4%, hitting a new intraday high

Sichuan's First Batch of Digital RMB Smart Contract Payroll Implementation in Chengdu High-tech Zone

Sichuan Province has implemented digital renminbi smart contracts for the first time in Chengdu High-tech Zone, successfully distributing over 1 million yuan in wages to 104 construction workers. This allows for instant salary payments and traceability control, helping to address the issue of wage arrears among migrant workers. Local company "Yizhi Technology" provided technical support, and Chengdu High-tech Zone established a smart supervision system covering 176 projects, with a total salary distribution exceeding 2.8 billion yuan and a salary issuance rate of 98.62%.

U.S. employment data unexpectedly strong, Bitcoin still drops to 67K

U.S. employment data unexpectedly increased, prompting traders to reduce rate cut bets, and U.S. stocks edged lower. The crypto market confidence remains weak, with total market capitalization down 2.08%. Bitcoin briefly dropped to 65K but rebounded above 67K, while Ethereum fell below $2000. The Fear and Greed Index is in extreme fear.

Why did Bitcoin drop today? Non-farm payrolls at 130,000 lower interest rate cut expectations, US Treasury yields surge to 4.2%

The US January employment report showed 130,000 new jobs, nearly twice market expectations, and the unemployment rate dropped to 4.3%, indicating the labor market remains resilient. Strong data pushed the 10-year US Treasury yield up to 4.2%, reducing the likelihood of the Federal Reserve cutting interest rates recently. The tightening financial environment has put pressure on risk assets. Analysts point out that Bitcoin is highly sensitive to liquidity; rising government bond yields lead to capital shifting toward safer assets.

JPMorgan's Blockchain Division Co-Head Naveen Mallela has left the company.

PANews February 12 News, according to Bloomberg, Naveen Mallela, Global Co-Head of JPMorgan Chase's Blockchain Division Kinexys, has left the company. Meanwhile, the bank is accelerating the expansion of digital asset payment services. Mallela assumed this position in 2024 and has been with the bank for over ten years. A JPMorgan spokesperson confirmed Mallela's departure and stated that a successor will be appointed soon.

BlackRock Executive: If Asian asset allocation allocates only 1% to cryptocurrencies, it could bring in nearly $2 trillion in capital inflows

BlackRock iShares Asia-Pacific Head Nicholas Peach stated at the Hong Kong conference that if only 1% of traditional investment portfolios in Asia are allocated to cryptocurrencies, it could bring in nearly $2 trillion in new capital flows. He pointed out that market expectations for digital assets are changing, and some asset allocation models have already recommended adding cryptocurrencies. Meanwhile, regulatory agencies in markets like Hong Kong are promoting more crypto ETF products in hopes of encouraging capital inflows.

Danske Bank Reverses Crypto Policy, Cites Regulation Progress

Danske Bank is now allowing clients to invest in Bitcoin and Ethereum ETPs, marking a shift towards embracing crypto investments amid clearer EU regulations. However, it emphasizes the inherent risks and does not provide investment advice.