1. Top 10 CEX Trading Volume and 24-Hour Price Changes:
ETH: + 1.08%
BTC: - 0.32%
SOL: - 3.56%
OM: - 3.16%
IP: - 12.03%
DOGE: - 1.54%
TRUMP: - 3.08%
KAITO: - 0.51%
XRP: + 0.41%
SUI: - 1.72%
24-Hour Gainers (Data from OKX):
NC: + 23.36%
GLM: + 18.73%
BZZ: + 12.57%
SWFTC: + 9.87%
PRQ: + 8.36%
S: + 8.04%
AYCTION: + 7.81%
NMR: + 7.30%
CVC: + 6.64%
ARKM: + 5.28%
2. 24-Hour Hot Search Coins:
BAN, an art Meme coin, surged last weekend;
PI, an old "community coin", has been listed on exchanges like OKX;
KAITO, with airdrops, has been listed on Binance and other exchanges.
Headlines
Bybit: Deposits and Withdrawals Have Fully Resumed to Normal Levels
Bybit announced on Platform X that deposits and withdrawals on Bybit have fully resumed to normal levels, and on-chain data has confirmed this.
NEXUS Testnet II Has Closed, Devnet OS to Be Launched Soon
According to official news, NEXUS Testnet II closed at 4:00 am this morning, and the platform plans to launch a Devnet OS, including Devnet OS, Devnet chain, and Devnet explorer, soon.
Andre Cronje Unveils 4 Visions for Sonic in 25 Years, Including Fee Monetization and Dynamic Fees
Andre Cronje posted on Platform X that Sonic's vision for this year is simple: fee monetization (90% of fees will go to the application, not validators and MEV), fee subsidies (eliminating user entry fee barriers), dynamic fees (applications can set fees for users), and native economics and account abstraction (no wallets or fees required).
Argentine Senate Demands Government Report on LIBRA Scandal
The Argentine Senate passed a motion with 46 votes in favor and 15 against, demanding the government provide a report on the LIBRA scandal. Meanwhile, the Senate rejected the proposal to establish an investigative committee, although 47 senators supported it, it did not reach the 48-vote threshold to initiate the process.
Industry News
Wall Street Journal: CertiK Confirms Bybit Incident as Largest Crypto Theft in History
The Wall Street Journal, citing Web3.0 security firm CertiK, reported that the Bybit theft incident is the largest single crypto theft in history, with the stolen assets valued at over $140 million. After the incident, Bybit announced that it had reported the case to the relevant authorities, and its CEO Ben Zhou said that all Bybit functions and products are still operating normally, the exchange has the ability to compensate customers, and will fully bear the customer losses. As of now, all withdrawal requests on Bybit have been processed, and the withdrawal system has resumed normal speed.
Franklin Templeton Has Filed an S-1 for a Spot Solana ETF with the US SEC
According to information on the US SEC website, Franklin Templeton has formally filed an S-1 for a spot Solana ETF with the US Securities and Exchange Commission (SEC).
FTX creditor representative Sunil posted on Platform X that a large number of bankruptcy claims come from jurisdictions that do not qualify for FTX distribution, including Russia, China, Egypt, Nigeria, and Ukraine. China has the largest number of users, accounting for 8% of FTX's total user base. FTX is reviewing relevant solutions.
Canary Litecoin Spot ETF Listed on DTCC Website with Ticker LTCC
According to the DTCC website, the Canary Litecoin Spot ETF has been listed on the DTCC website with the ticker LTCC, and the Create/Redeem column shows "D". Although this does not indicate that the ETF has received any regulatory approval or any definitive approval process result, being listed on the DTCC website is the "standard process" for launching a new ETF.
Recently, the Grayscale XRP ETF application and four other Solana ETF applications from last week have been entered into the US Securities and Exchange Commission (SEC) Federal Register, with VanEck, 21Shares, Bitwise, and Canary Capital's Solana ETF applications submitted on February 18. After being entered, a 21-day public comment period will be triggered, and the regulator is expected to decide on approval, rejection, or further review by October 18. If approved, the XRP ETF will provide users with a regulated XRP investment exposure tool. XRP has surged over 381% in the past 12 months and is currently attracting attention due to legal and regulatory improvements, with recent recovery drivers including rumors of US banks potentially using it for internal transactions and speculation about the SEC's long-term litigation stance against Ripple. The SEC sued Ripple in December 2020, alleging it raised $1.3 billion through unregistered XRP sales and classifying it as a security under the Howey Test. INPAY CEO Arthur Azizov said, "The XRP ETF is highly likely to be launched this year, with the specific timing depending on the speed of resolving the legal dispute with the SEC."
Utah Bitcoin Reserve Bill Enters Second Reading in Senate
Legislation allowing Utah to invest in Bitcoin has been approved by a state Senate subcommittee. The HB 230 "Blockchain and Digital Innovation Amendments" bill passed the Utah Revenue and Taxation Subcommittee on February 20 with a 4-2-1 vote and is now undergoing second and third readings in the Senate before a final Senate vote. The Bitcoin reserve bill has already passed the House, so if it is approved in the Senate, Republican Utah Governor Spencer Cox only needs to sign the bill for Bitcoin to become a state reserve asset. (Cointelegraph)
Project News
Cross-chain bridge Chainflip responded to the Bybit CEO's request, saying: "We have tried our best to handle the current situation, but as a decentralized protocol, we are unable to fully stop, freeze or redirect any funds. However, we have closed some front-end services to prevent fund movements." Previously, Bybit CEO Ben Zhou posted on Platform X that he had monitored hackers trying to transfer BTC through Chainflip, and hoped Chainflip would help Bybit stop and prevent further asset transfers to other chains.
BinaryX Officially Rebrands to Four, BNX Tokens to Be Exchanged 1:1 for FOUR
According to official news, BinaryX has officially rebranded to Four: all BNX token holders can exchange their BNX tokens for the new Four tokens at a 1:1 ratio. This rebranding was supported by a community vote held from September 21 to 23, 2024, and received unanimous support from BNX holders.
Kaito founder Yu Hu posted on X platform stating: Staking rewards have now been launched, with currently about 10% of tokens staked, with an annualized yield of around 70%. It is expected to return to normal in the next few days. Any locked tokens (including investors/foundation/team) cannot participate in staking, and rewards currently come from liquidity incentives, but from next week this will become a net outflow due to network fees, and more information on staking functionality will be released. Some users have already noticed a HODL score, which will increase Kaito Connect voting rights - this is just one aspect, Genesis NFT holders and KAITO token stakers will always have priority access to everything we do at Kaito.
Bithumb: Will suspend service for about 6 hours on February 24 to upgrade internal systems
According to the official announcement, Bithumb announced that it will carry out internal system upgrade work from 1:00 to 7:00 (a total of 6 hours) on Monday, February 24, 2025, during which all related services of its platforms (Bithumb APP/mobile website/PC/API) will be temporarily suspended. The service maintenance time may be completed earlier or delayed. This operation is carried out in accordance with Article 17, Paragraph 1, Item 1 of the Enforcement Decree of the Act on the Protection of Virtual Asset Users in Korea.
CoinList will launch Obol token sale, with a 30% discount compared to the recent VC round
CoinList will launch the Obol token sale at 1:00 am Beijing time on February 25, with a 30% discount compared to the recent VC round. For regular users: FDV is $125 million, token price is $0.25, and 33% will be unlocked 6 months after TGE, followed by linear unlocking over 12 months. For wstETH or weETH holders: FDV is $115 million, token price is $0.23, and 33% will be unlocked 6 months after TGE, followed by linear unlocking over 12 months. Users also need to hold at least $20 worth of wstETH or weETH on CoinList between March 4, 2025 1:00 am and March 11, 2025 1:00 am to enjoy the lower price and FDV. The purchase limit for both options is a minimum of $100 and a maximum of $250,000. Users who are not selected for allocation will receive their funds in their CoinList wallets before 1:00 am on March 13, 2025.
Investment and Financing
Token-based social network ResearchHub raises $2 million, with BoostVC as an investor
Token-based social network ResearchHub announced the completion of a $2 million new round of financing, with BoostVC as an investor. The new funding will further leverage its ResearchCoin (RSC) token to incentivize scientists to openly share academic content, and build decentralized scientific collaboration and publishing tools to promote research collaboration, feedback, and knowledge sharing among researchers.
Crypto privacy data layer Primus completes $6.5 million Pre-Seed and Seed round, led by VanEck
The official of the crypto privacy data layer Primus posted on X platform that it has completed a total of $6.5 million in Pre-Seed and Seed round financing, led by Dispersion Capital, Symbolic Capital, and VanEck, with participation from Samsung Next, Alchemy, and Maelstrom.
Infinity Ground completes $2 million seed round, with Animoca Brands as an investor
Infinity Ground announced the completion of a $2 million seed round, with investors including Animoca Brands, MARBLEX, MH Ventures, Frachtis Ventures, KuCoin Ventures, KnightFury, Presto Labs, and Pakafund. Infinity Ground is an MVB accelerator program co-hosted by YZi Labs, BNB Chain, and CoinMarketCap. The project provides no-code building, deployment, and monetization of AI applications for Web3 creators through its Agentic IDE (Intelligent Development Environment) and IDK (Intelligent Development Kit), aiming to make "Text to App" a reality. The platform supports multi-chain interoperability, including Base, BNB Chain, and Kaia, and provides powerful infrastructure support through Infinity Ground's own ING Network and Interwoven Stack technology from Initia.
Personalities & Voices
Coinbase co-founder: Reached settlement with SEC, litigation expected to be fully withdrawn
Coinbase co-founder Brian Armstrong posted on X platform that Coinbase has reached a settlement with the SEC, and the litigation is expected to be fully withdrawn, without any fines being paid and no changes to its business. This result proves that Coinbase's decision to fight the SEC in court was correct, despite initial doubts. The key points include: the SEC exceeded its statutory authority by demanding the delisting of non-security assets; compromising could have harmed the US crypto industry and forced it to move overseas; this fight is crucial to protecting customer and industry interests, and is also a fight against government overreach. Armstrong said he is proud to have challenged the SEC's decisions, and they plan to continue working with the SEC and advocate for clearer crypto regulations.
Regarding the community's concern about "Binance employees not being allowed to trade", Binance founder CZ posted on X platform that Binance (CEX) has always restricted employees from trading. This is of course to protect users. But the side effect is that product managers don't really understand user needs. CZ said: "I can't control that anymore, let their management decide. On (BNB) Chain, I should go experience the products. Let me try a few on-chain memes later."
Insider: Hong Kong regulators are discussing the launch of crypto ETF staking
After the release of the new industry roadmap, it has been revealed that Hong Kong regulators may introduce staking services for crypto exchange-traded funds and other advanced products (such as derivatives trading). Haiyang Ru, Chief Risk Officer of HashKey Group, said, "We are actively discussing with the Hong Kong Securities and Futures Commission the introduction of ETF staking and tokenized money market funds, as well as the launch of 'earning' functions in parallel with spot trading." Previously, the Hong Kong Securities and Futures Commission announced 12 new measures on Wednesday, including exploring the possibility of new token listings, margin trading, derivatives, staking, lending and borrowing in the crypto industry. (TheBlock)
