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

Top 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 approximately 43.35 million tokens, about 1.13% of its circulating supply, worth approximately $40.46 million, on March 1, 8 AM Beijing time.

February 23

Special Focus:

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

On February 20, U.S. time, Trump stated he is considering a “preliminary limited military strike” on Iran to pressure Iran to accept U.S. demands regarding the nuclear deal. Iran’s Foreign Minister said that Iran’s peaceful nuclear program has no military solution, and the only solution is diplomatic, 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 the FT token will start public sale on February 16 and conduct TGE on February 23. Previously, Flying Tulip completed a token sale on CoinList, raising nearly $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 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 of positions is advised to avoid automatic settlement. After settlement, no new orders will be accepted.

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

Nifty Gateway, an early NFT trading and management platform acquired by Gemini in 2019, announced its closure and advised users to withdraw assets before February 23.

February 24

Policy & Regulation:

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

The White House announced that President Trump signed a new proclamation imposing a 10% tariff on certain imported goods for 150 days, effective from 12:01 AM EST on February 24. The White House stated this tariff 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 SEC has extended the review period for Nasdaq ISE’s proposed rule change to increase the IBIT options position and exercise limits from 250,000 contracts to 1,000,000 contracts. The new decision deadline is February 24, 2026, to allow sufficient time to assess the impact of the significant limit increase.

Project Updates:

Fabric Foundation opens ROBO airdrop registration, deadline February 24

Fabric Foundation has opened registration and review for the ROBO airdrop. Users can link their wallets, X accounts, Discord, 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

Key Focus:

Nvidia will release earnings after market close on February 25. Its performance and guidance will not only impact its stock price but also influence investor sentiment across the entire AI industry chain.

Macro Policy:

Hong Kong Financial Secretary Paul Chan: New Fiscal Budget to be announced on February 25

Hong Kong Financial Secretary Paul Chan published a column revealing that the new fiscal 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 plans to develop stablecoins gradually, considering pegging 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, on February 25 at 8:00 AM Beijing time.

February 26

Exchanges:

Crypto exchange ProBit Global to cease all services on February 26, urges users to withdraw promptly

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

The delayed asset return period is from 8:00 AM UTC+8 on March 1, 2026, to 7:59 AM UTC+8 on April 1, 2026. Unwithdrawn assets after the deadline will be considered abandoned, and a maintenance fee will be charged to cover infrastructure and custody costs, strictly starting from March 1, 2026. Any assets not withdrawn before April 1, 2026, will be deemed forfeited 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 sent a letter on February 19 to Treasury Secretary Janet Yellen requesting an investigation into the Trump family’s crypto company World Liberty Financial (WLFI)’s application for a federal bank license, citing potential conflicts of interest and national security concerns. WLFI is applying for a national bank charter with the OCC. Democrats call for suspending the review and clarifying whether the White House or Treasury Department has intervened in the licensing process. Response is requested by February 26.

February 27

Macro Economy:

U.S. releases January PPI data

Exchanges:

FTX users and Fenwick & West reach settlement agreement in principle regarding their role in the FTX case, formal agreement filed on February 27

FTX users have reached a settlement in principle with U.S. law firm Fenwick & West concerning their roles in the FTX case. Both parties plan to file a formal settlement agreement and seek approval from the Florida federal court on February 27. Terms 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 approximately 55 million tokens, about 13.15% of its circulating supply, worth approximately $10.1 million, at 9:30 PM Beijing time.

March 1

Token Unlocks:

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

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