In the coming week from February 24, 2025 to March 2, 2025, there are also these blockchain news that are worth your attention.

News Preview:

• Ethereum plans to activate the Pectra upgrade on the Holesky testnet on February 24.
• $FX will be renamed to $PUNDIAI and implement a 100:1 supply reduction on February 25;
• VitaDAO: plans to launch a new token on Pump Science on February 25
• The U.S. Senate Banking Digital Assets Subcommittee will hold its first hearing on February 26 local time, discussing the "Exploring a Bipartisan Legislative Framework for Digital Assets";
• Optimism (OP) will unlock about 31.34 million tokens at 8:00 am Beijing time on February 28, accounting for 1.93% of the current circulating supply, worth about $36.7 million
• Arkham Exchange will start providing spot trading to users in 17 U.S. states from March 1;
• Sui (SUI) will unlock about 22.97 million tokens at 8:00 am Beijing time on March 1, accounting for 0.74% of the current circulating supply, worth about $77.6 million;
• Kanye says the current market is full of fake coins, and will launch his own coin next week

February 24

Exchanges:

Binance will delist AMB, CLV, STMX and VITE on February 24

Binance announced that it will delist and stop trading the following spot trading pairs: AMB/USDT, CLV/BTC, CLV/USDT, STMX/TRY, STMX/USDT and VITE/USDT starting at 11:00 am (Beijing time) on February 24, 2025. All outstanding orders will be automatically canceled after the trading is stopped. From 11:00 am (Beijing time) on February 25, 2025, deposits of the relevant tokens will no longer be credited to user accounts, and withdrawal services will continue until 11:00 am (Beijing time) on April 24, 2025.

Bithumb: Plans to suspend service for about 6 hours on February 24 due to internal system upgrades

Bithumb announced that it will carry out internal system upgrade work from 1:00 am to 7:00 am (a total of 6 hours) on Monday, February 24, 2025, during which all Bithumb services (Bithumb APP / mobile website / PC / API) will be temporarily suspended. The maintenance time may be completed earlier or delayed. To protect customers with outstanding orders, orders may be canceled, so please cancel buy/sell orders as much as possible before the service check.

CME plans to launch cash-settled options on Bitcoin Friday futures on February 24

The Chicago Mercantile Exchange (CME) announced that it plans to launch cash-settled options linked to its Bitcoin Friday futures on February 24, subject to regulatory approval. Giovanni Vicioso, CME's global head of crypto products, said the smaller size and daily expiration design of these new option contracts provide market participants with more capital-efficient tools to adjust their bitcoin exposures. Since its launch in September last year, the Bitcoin Friday futures contract has a contract size of only 1/50 of 1 bitcoin, smaller than Coinbase's "nano" bitcoin futures (1/100 of 1 bitcoin). As of now, the product has accumulated over 775,000 contracts traded, with an average daily volume of about 9,700 contracts.

Project Dynamics:

Latest Ethereum ACDE Meeting: Plans to activate Pectra upgrade on Holesky testnet on February 24

Christine Kim, Vice President of Research at Galaxy, summarized the 203rd Ethereum Core Developers Execution (ACDE) conference call, where developers confirmed the timeline for upgrading Ethereum's public testnets, planning to activate the Pectra upgrade on the Holesky and Sepolia testnets on February 24 and March 5 respectively. If the public testnet upgrades go smoothly, Pectra is expected to launch on the Ethereum mainnet around April 8. In addition, developers discussed Beiko's proposal to lock the scope of the Fusaka upgrade, planning to freeze the scope of Fusaka before the Pectra upgrade is launched. Beiko also suggested extending the deadline for developers to submit EIP proposals to ensure that all opinions are fully discussed and integrated.

February 25

Project Dynamics:

CoinList will launch Obol token sale on February 25

CoinList announced that it will launch the Obol token sale at 1:00 am (Beijing time) on February 25, with a 30% discount compared to the previous VC investment round. Obol is the base for L1 blockchains and decentralized infrastructure networks. Sale details are as follows: For regular users: FDV is $125 million; token price is $0.25; 33% unlocked 6 months after TGE, then linear unlock over 12 months. For wstETH or weETH holders: FDV is $115 million; token price is $0.23; 33% unlocked 6 months after TGE, then linear unlock over 12 months; users also need to hold at least $20 worth of wstETH or weETH on CoinList from March 4, 1:00 to March 11, 1:00 to enjoy the lower price and FDV.

The purchase limit for both options is a minimum of $100 and a maximum of $250,000. After the subscription period ends, users who are not selected for allocation will receive their funds in their CoinList wallets before 1:00 am on March 13. This public sale is not available to users in the U.S., China, Canada and certain other jurisdictions.

$FX will be renamed to $PUNDIAI and implement a 100:1 supply reduction on February 25

$FX will officially be renamed to $PUNDIAI at 10:00 am (GMT+8) on February 25, 2025. This upgrade will be automatically or manually performed based on the blockchain the token is on. $FX on the Pundi AIFX Omnilayer (formerly f(x)Core) will be automatically upgraded, including staked and non-staked tokens. $FX on the Base chain and Ethereum network will need to be manually upgraded, with the upgrade page to be provided later, allowing users to bridge $FX back to the Pundi AIFX Omnilayer for automatic upgrade. Centralized exchanges participating in this upgrade will provide automatic upgrades, please check with the exchanges for specific timelines.

BNB Chain: Plans to conduct the Pascal hard fork on the testnet on February 25, and on the mainnet in mid-March

BNB Smart Chain (BSC) will undergo the Pascal hard fork. The fork is planned to take place on the testnet on February 25, 2025, and on the mainnet in mid-March 2025. The Pascal hard fork integrates key features of the Ethereum Pectra upgrade, enhancing the compatibility between BSC and Ethereum.

VitaDAO: Plans to launch a new token on Pump Science on February 25

The longevity research DAO VitaDAO posted on X platform that it plans to launch a new compound experiment token on the Pump Science platform on February 25, and the supplement pre-purchase and market launch will be on March 25.

Token Unlocks:

AltLayer (ALT) will unlock about 240 million tokens at 6:00 pm Beijing time on February 25, accounting for 9.41% of the current circulating supply, worth about $11.6 million

February 26

Policy & Regulation:

The U.S. Senate Banking Digital Assets Subcommittee plans to hold its first hearing on February 26 local time

The U.S. Senate Banking Digital Assets Subcommittee announced that it will hold its first hearing next Wednesday (February 26) local time, discussing the "Exploring a Bipartisan Legislative Framework for Digital Assets" theme.

February 27

Exchanges:

Upbit: Plans to suspend NFT service for 2 hours on February 27

The South Korean cryptocurrency exchange Upbit announced that due to planned database maintenance tasks, the NFT service will be suspended for 2 hours from 06:00 to 08:00 on February 27. During this period, the deposit and withdrawal of Ethereum and Polygon-based NFTs on Upbit will not be available. The check may be postponed or canceled depending on market conditions.

Kraken will fully close its NFT marketplace on February 27, shifting focus to other projects

The cryptocurrency exchange Kraken stated in a statement that the company will shut down its NFT marketplace to free up resources for upcoming projects. After November 27, 2024, users will no longer be able to list, bid on or sell items on Kraken's NFT marketplace; they can only withdraw assets. The marketplace will be fully closed on February 27, 2025. A Kraken representative said: "We've decided to shut down our NFT marketplace in order to dedicate more resources to new products and services, including some unannounced plans we're developing. Customers have been notified of these changes, and our team will support them in transferring their NFTs to their Kraken wallets or self-custody wallets of their choice."

ZK Nation: ZIP-6 proposal to redeploy all governance contracts, voting to end on February 27

ZK Nation posted on the X platform that since the required voting quorum has been reached, the voting period for ZIP-6 is planned to end at 18:15 UTC on February 27. The proposal will upgrade the governance contracts, redeploying all governance contracts, including the UpgradeHandler contract related to the ZKSYNC protocol upgrade mechanism, which is responsible for executing Ethereum protocol upgrades approved by the Token Assembly.

February 28

Policy & Regulation:

Brazil's Central Bank considers banning the withdrawal of stablecoins from exchanges to personal wallets, public consultation will continue until February 28

Brazil's Central Bank (BCB) has published a regulatory proposal to prohibit centralized exchanges from allowing users to withdraw stablecoins to self-custody wallets. According to the public consultation notice, in the context where Brazilian law already allows payments in foreign currency, the transfer of stablecoins (referred to as "tokens denominated in foreign currency") between residents will be restricted. This is part of Brazil's crypto regulation bill approved in December 2022, which designates BCB as responsible for establishing rules for the country's crypto industry. The public consultation will continue until February 28, 2025, and market participants can share their opinions with the regulator. However, BCB can override the opinions and act as described in the document.

Project Dynamics:

Decentralized ride-hailing app Teleport to shut down, users can transfer remaining USDC balances and export private keys before February 28

Teleport, a decentralized ride-hailing app on the Solana blockchain, posted on the X platform announcing: "The platform is about to shut down, this is not the desired outcome, but we are deeply grateful to this community and all the passionate believers in the vision, unfortunately we couldn't find a way to make this business viable. More detailed analysis explaining the reasons behind this decision will be published in the future, but for now we are focused on an orderly shutdown. The Teleport app will support the transfer of any remaining USDC balance and the export of user private keys until February 28, 2025."

Metaplanet to be included in the MSCI Japan Index on February 28

Simon Gerovich, CEO of the Japanese listed company Metaplanet, stated that Metaplanet will officially be included in the MSCI Japan Index after the market close on February 28, 2025. The MSCI Japan Index, compiled by MSCI, covers large and mid-cap Japanese companies and is an important benchmark for global institutional investors.

Token Unlocks:

Optimism (OP) will unlock approximately 31.34 million tokens on February 28 at 8:00 AM Beijing time, representing 1.93% of the current circulating supply, valued at approximately $36.7 million

March 1

Exchanges:

Arkham Exchange to offer spot trading to users in 17 U.S. states starting March 1

Arkham Intelligence announced that its exchange Arkham Exchange will start offering spot crypto trading to users in 17 U.S. states from March 1. Arkham had announced this move last November, after the company launched a USDT-based perpetual contract exchange. The spot trading will be available to users in Colorado, Hawaii, Indiana, Iowa, Kansas, Michigan, New Hampshire, New Jersey, South Carolina, Tennessee, Utah, Virginia, Wyoming, Wisconsin, California, Massachusetts, and Montana.

120 million SOL from the FTX bankruptcy auction to be unlocked on March 1, valued at approximately $2.06 billion

According to monitoring by @ai_9684xtpa, the 12 million SOL (valued at approximately $2.06 billion) from the FTX bankruptcy auction will be unlocked on March 1, 2025. Previously, FTX had sold a total of 41 million SOL through three auctions, with the main buyers and their returns as follows:

• Galaxy purchased 25.52 million at $64 per SOL, with a return of 187%;
• Pantera and others purchased 13.67 million at $95 per SOL, with a return of 93%;
• Figure and others purchased 1.8 million at $102 per SOL, with a return of 80%.

Token Unlocks:

Sui (SUI) will unlock approximately 22.97 million tokens on March 1 at 8:00 AM Beijing time, representing 0.74% of the current circulating supply, valued at approximately $77.6 million

ZetaChain (ZETA) will unlock approximately 44.26 million tokens on March 1 at 8:00 AM Beijing time, representing 6.48% of the current circulating supply, valued at approximately $15 million

dydx (DYDX) will unlock approximately 8.33 million tokens on March 1 at 8:00 AM Beijing time, representing 1.14% of the current circulating supply, valued at approximately $6.7 million

Sleepless AI (AI) will unlock approximately 18.21 million tokens on March 1 at 8:00 AM Beijing time, representing 14.01% of the current circulating supply, valued at approximately $5.1 million

March 2

Exchanges:

OKX to delist GFT spot trading pairs, suspend GFT withdrawals on March 2

OKX platform announced that it plans to officially delist the GFT/USDT and GFT/USDC trading pairs on March 2, 2024 at 5:00-5:30 PM (UTC+8). The platform will suspend GFT deposit services on March 2, 2024 at 4:00 PM (UTC+8), and GFT withdrawal services will be suspended on March 2, 2025 at 4:00 PM (UTC+8). Users are advised to process their assets before March 4, 2025 at 4:00 PM (UTC+8) to avoid losses.

Timing to be determined

DeepSeek to open-source 5 code repositories next week

DeepSeek announced today that it will open-source 5 code repositories over the next week, with new content unlocked daily, further sharing its latest progress. DeepSeek explained that the modules for the current online service have been tested and deployed, ready for production. The company defines itself as a small company, stating that each sharing will become a powerful momentum to accelerate the industry's development journey. It also mentioned that there is no ivory tower in this field, only the pure garage entrepreneurial spirit and the innovative power built by the community.

Kanye (Ye): All the coins on the current market are fake, will launch his own coin next week

American producer and rapper Ye (Kanye West) tweeted that all Ye-related Memes on the current market are fake, and he will launch his own coin next week. He later tweeted, "YEEZY is committed to creating a true currency, and no matter what field I enter, I will learn from the best and treat their life's work with the utmost respect."

According to X user @afhasbara, Kanye sold the publishing rights to his X account for $20 million before the crypto currency launch, with his agent John Monopoly taking a 15% fee. The Kanye crypto currency tweets we're seeing now are obviously not from him personally.

OpenAI's GPT-4.5 expected to launch as soon as next week, GPT-5 likely to be released in late May

Microsoft is preparing for OpenAI's latest model, with GPT-4.5 expected to launch as soon as next week, and Microsoft anticipating the release of GPT-5 in late May. The updated GPT-5 will make significant improvements to the usage of ChatGPT, unifying OpenAI's o-series and GPT-series models to reduce user confusion in choosing models.