Midday Key Developments on February 23

7:00-12:00 Keywords: Ethereum market cap, US SEC, Arthur Hayes 1. Ethereum market cap drops to 89th among global mainstream assets; 2. Trade tensions rise again, risk aversion sentiment pushes international gold and silver prices higher; 3. Today's Fear & Greed Index drops to 5, indicating the market is in an "extreme fear" state; 4. The US SEC clarifies that brokers holding stablecoins can count them towards net capital at a 2% discount; 5. USDT circulating market cap decreases by $1.5 billion, marking the largest drop since 2022; 6. Vitali: Security is about minimizing the gap between user intent and system behavior; 7. Arthur Hayes discloses current portfolio: crypto assets, allocation in precious metals and energy stocks, and holding physical gold.