Standard Chartered Bank plans to consolidate its client custody business at its Zodia Custody into the bank’s Digital Assets division for corporates and investment banks. Zodia will become an independent custody SaaS platform. Relevant announcements will be made within this month.

Standard Chartered Bank plans to restructure its holding of Zodia Custody Ltd., integrating its cryptocurrency custody business into the corporate and investment banking division, and expects to issue a related announcement within this month. Zodia Custody will continue to operate as an independent crypto-asset custody SaaS company.

FiscalNote Holdings has been delisted from the New York Stock Exchange due to its stock price remaining below $1 for an extended period and will now trade on the over-the-counter market. The company faces challenges from AI technology replacing its core business model. Despite efforts to pivot and diversify, market confidence remains low. This delisting reflects the profound impact of the AI-driven era on traditional SaaS models.

Bill Gurley points out that the AI wave has caused many people to rapidly accumulate wealth, forming a bubble, and he anticipates a reset is coming. He advises investors to focus on undervalued SaaS stocks, as the current software sector is being impacted by AI, with related company stock prices declining significantly. Meanwhile, he expresses concern about the high cash burn rate of leading AI companies.

This year, 27 software companies have mentioned AI agents as a competitive risk in their filings, but executives generally downplayed this threat during earnings calls, revealing a contradiction between their filings and public statements. This phenomenon has raised concerns among investors about the software industry, with some companies' stock prices falling sharply, leading to what is known as the "SaaS end-of-days" situation.

Odaily Planet Daily reports that Arthur Hayes posted on the X platform stating that BTC (white) has not yet decoupled from the US SaaS technology company (green). This may just be a short-term rebound, and it has not yet moved out of the danger zone. Patience is required.

Stripe co-founder John Collison stated in an interview that claims of an end-of-days for the SaaS industry are unfounded, as current data does not show a slowdown in growth. He believes that changing market expectations for the long-term outlook may cause fluctuations in the current situation, despite decreasing software production costs, the market response remains unstable.

On February 13, news broke that Anthropic, OpenAI's strongest competitor, announced the completion of a $30 billion Series G funding round, with a post-money valuation of approximately $380 billion, reigniting global capital enthusiasm for the artificial intelligence sector. This round was led by GIC and Coatue, with participation from Founders Fund, Sequoia Capital, BlackRock, Temasek, Microsoft, NVIDIA, and other institutions. Meanwhile, the company's annual revenue has risen to about $14 billion, maintaining a tenfold growth over three years, and is expected to approach $18 billion this year. This phenomenon not only reshapes the landscape of tech investment but also subtly influences the capital structure of digital assets. As AI tools can replace various SaaS services, enterprise software valuations come under pressure. Bloomberg reported that in early February, software stocks lost approximately $285 billion in market value over a single week. Market analyst Jim Bianco pointed out that the trends of Bitcoin and software stocks are highly synchronized, driven by the same underlying force: the flow of private credit funds.

In 2025, among the top 20 companies holding BTC, China’s Cango and Next Technology Holding rank 16th and 18th respectively. Cango has transformed from auto finance to a Bitcoin mining company, becoming the second-largest mining enterprise globally. Meanwhile, Next Technology is a Nasdaq shell company for a micro-business SaaS platform.