Canaan’s fall on Tuesday sent its share price to $0.56, falling further from the $1 it must reclaim by July to avoid a potential Nasdaq delisting. Crypto miner and manufacturer Canaan fell 6.9% on the Nasdaq on Tuesday despite reporting a 121.1% year-on-year increase in revenue to $196.3 million in the fourth quarter, driven by an increase in hardware sales and stronger mining performance. Canaan reported that its Bitcoin (BTC) mining revenue rose 98.5% year-on-year to $30.4 million, helping boost its Bitcoin treasury to a record 1,750 BTC, valued at nearly $120 million, while the company also increased its Ether (ETH) holdings to 3,950 ETH, worth $7.9 million. The revenue figure is Canaan’s highest quarterly posting in three years, and was also driven by Bitcoin mining machine sales, with the company shipping a record 14.6 exahashes per second (EH/s) of computing power during the quarter. Read more
ETH’s market structure and fractal analysis from 2021 and 2024 provide insights where significant buy demand may exist. Currently, it’s on the downside. Ether (ETH) struggled to hold prices above $2,000 on Tuesday, and against this backdrop, analysts noted that Ether’s 31% decline in 2026 fits a familiar price fractal from previous bull markets. Key takeaways: ETH’s recent dip to $1,736 may mark only the first of many lows in a larger consolidation phase. Read more
Bitcoin’s double-digit rebound and brief trading above $72,000 may confirm $60,000 was the bottom, but data shows top traders are refusing to open longs. Key takeaways: The Bitcoin long-to-short indicator at Binance hit a 30-day low, signaling a sharp decline in bullish leverage demand. US-listed Bitcoin exchange-traded funds reversed a negative trend with $516 million in net inflows following a period of heavy liquidations. Read more
Sam Bankman-Fried asked a federal appeals panel for a new trial in the FTX fraud case, arguing that new witness testimony could weaken the case that led to his 25-year sentence. Former FTX chief CEO Sam Bankman-Fried has asked a federal court for a new trial on fraud charges, arguing that previously unavailable witness testimony could undermine the government’s case that led to his 25-year prison sentence. In a motion filed Feb. 5 in Manhattan federal court, Bankman-Fried challenged his 2023 conviction, though the request is separate from his formal appeal, as Bloomberg reported. Motions for a new trial face a high legal bar and are rarely granted. The filing was submitted to the court by Bankman-Fried’s mother, retired Stanford law professor Barbara Fried, and is now under review. Bloomberg described the effort as a long shot. Read more