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Wall Street is re-evaluating software services, especially in the context of AI's increasing impact on the market. After Anthropic PBC launched Claude Code Security, security-related stocks declined, indicating investor concerns about AI's influence. The recent "SaaSpocalypse" phenomenon suggests this is a market reclassification rather than pure disruption. Following a significant drop in Figma's valuation, the company is leveraging AI innovation to reshape itself and is becoming a cross-departmental design system. The market needs to reassess companies that enhance system centrality through efficient pathways. SaaSpocalypse sets a new standard for future technology markets.

Recently, multiple cases of unauthorized credit card usage have occurred in Lishui City and Heuncheon City, Jeollanam-do, South Korea, with total losses exceeding 120 million KRW. Authorities suspect that personal information leaks are involved and are considering investigating the relevant payment companies and shop owners. Experts advise consumers to strengthen personal information protection to prevent similar crimes from happening again.

In May 2024, WeatherXM went public. This DePIN project, dubbed the "world's largest community-driven weather network," is backed by a $7.7 million Series A funding round led by Lightspeed Faction, with a lineup of top-tier institutions behind it: Protocol Labs, Borderless Capital, Arca, Placeholder VC, and Consensys.

Coupang Inc, despite experiencing a personal information leak, still achieved record-high revenue and profit last year, with annual revenue increasing by 14%. However, in the fourth quarter, due to the impact of the leak, revenue slowed down and profits dropped significantly. Member attrition has impacted the company's stability, but signs of recovery have appeared since early 2026. Whether growth can be sustained in the future remains to be seen.

By the end of February 2026, the crypto market is shrouded in a strange "coincidence." Over the past few months, Bitcoin often experienced a precise wave of sell-offs at 10 a.m. Eastern Time, popularly dubbed the "Jane Street 10 a.m. dump strategy." However, just this week, with a lawsuit filed in the U.S. Federal Court in New York, this mechanically precise selling pressure suddenly vanished, and Bitcoin along with a number of altcoins surged.
This is not an urban legend but the real turmoil currently faced by Wall Street's top quant giant, Jane Street. As one of the most secretive and profitable trading firms globally, Jane Street has not only been hit with hefty fines last year for allegedly manipulating the Indian derivatives market but is now also entangled in the old case of the 2022 TerraUSD (UST) collapse. Terraform

Written by: Liang Yu
Edited by: Zhao Yidan
Hong Kong Economic Daily, February 25 — Hong Kong Financial Secretary Paul Chan delivered the government’s Fiscal Budget for the 2026-2027 fiscal year in the Legislative Council. The chapter on digital asset development signals a more systematic policy approach: a draft licensing regime for digital asset trading and custody service providers will be submitted within the year, the first batch of fiat-backed stablecoin licenses will be issued next month, the Securities and Futures Commission will further enhance market liquidity and offer more products and services for professional investors, and an accelerator will be established to promote market innovation.
On February 26, 2026, Dering Holdings Group Limited issued an announcement that sent ripples through Hong Kong’s digital asset market. The listed company announced that it had received a no-objection letter from the Hong Kong Securities and Futures Commission regarding its RWA tokenization plan.

MetaMask expands its blockchain-based debit card coverage in the United States, obtaining its first license in New York State. Developed in partnership with Mastercard and Baanx, the card will launch a pilot in December 2024 and is already supported at all merchants accepting Mastercard.