BlockBeats will organize the key industry news content of the week (2.24-3.2) in this article, and recommend in-depth articles to help readers better understand the market and learn about industry trends.
Important News Review
The crypto market fell sharply this week, and the total market value of cryptocurrencies fell below $3 trillion
This week, perhaps affected by a series of hacking incidents and Trump's tariff increase, the crypto market ushered in a sharp correction, and the total market value of cryptocurrencies fell below $3 trillion. On February 28, Bitcoin fell below $79,000, a 24-hour drop of 8.64%; Ethereum fell below $2,100, and the number of liquidations on the entire network surged, mostly long orders. The situation of the U.S. stock market is not optimistic either. In the early morning of the 28th, the market value of the "Big Seven" in the U.S. stock market evaporated by a total of about $550 billion. Among them, Nvidia fell more than 8%, and its market value shrank by more than $270 billion, setting the largest single-day market value loss since January 27. Related reading: "Bitcoin plummeted 20% in 30 days. What are the reasons and how will it trend in the future?"
Bybit released a mid-term investigation report showing that the theft of $1.5 billion was caused by a vulnerability in Safe infrastructure
On February 26, Bybit officially released an interim report on the $1.5 billion theft (provided by Sygnia), pointing out that the theft was caused by a vulnerability in Safe's infrastructure, and that Bybit's related infrastructure did not show any abnormalities. On the same day, Safe posted on social media that the attack on Bybit was achieved by hacking into the devices of Safe{Wallet} developers, resulting in malicious transactions disguised as legitimate transactions being submitted. The review by external security researchers did not find any vulnerabilities in Safe's smart contracts or front-end and service source code. Currently, the Safe{Wallet} front-end is still functioning normally, and additional security measures have been taken. However, users need to be extra cautious and vigilant when signing transactions.
The next day, Binance founder CZ wrote that the incident report released by Safe used vague language to cover up the problem. After reading it, there are more questions than answers. The questions that come to mind temporarily include: · What does "destroying the Safe {Wallet} developer machine" mean? How did they hack this particular machine? Is it social engineering, virus, etc.? · How does the developer machine access the "account operated by Bybit"? Some code is deployed directly to prod from this developer machine? · How did they deceive the Ledger verification step among multiple signers? Is it a blind signature? Or did the signer fail to verify correctly? · Is $1.4 billion the largest address managed with Safe? Why don't they target others? · What can other "self-hosted, multi-signature" wallet providers and users learn from this? Related reading: "How important is Safe, the top infrastructure in the crypto attacked by North Korean hackers, to encryption?"
Bybit hackers have successfully laundered 50% of the stolen ETH, and THORChain chief developer resigned
On February 28, according to monitoring, Bybit hackers have successfully laundered 50% of the stolen ETH. In the past less than a week, Bybit hackers have laundered a total of 266,309 ETH (about $614 million), accounting for 53.3% of the 499,000 ETH stolen, with an average of 48,420 ETH laundered every day, most of which were converted into BTC through THORChain. At the current rate, the remaining 233,086 ETH may only take 5 days to launder. Previously, THORChain faced the dilemma of insolvency, and its savings and loan functions had been suspended. It planned to issue equity tokens to cope with the $200 million debt crisis. The Bybit hacker has brought THORChain $2.91 billion in trading volume and $3 million in handling fees. On the 28th, @Pluto9r, the chief developer of THORChain who has served for four years, announced his resignation.
Stablecoin digital bank Infini platform suffered an attack, losing about $49.5 million
On February 24, the stablecoin digital bank Infini platform was attacked, and the attacker 0x3ac9 had converted all funds into 17,696 ETH (about 49.5 million US dollars). Subsequently, Infini co-founder Christine responded in a statement that the full amount would be paid, the engineer involved had been located and controlled, and stated that the personal private key had not been leaked, and there was negligence in the previous transfer of authority. On the 27th, Christian posted a statement saying, "Today, I officially filed a case in Hong Kong on behalf of Infini. The police were very efficient and the experience was very good. I can feel the Hong Kong government's open and inclusive attitude towards digital assets."
Mask Network founder's wallet hacked, more than $4 million stolen
On February 27, Mask Network founder Suji Yan posted a message saying, "6 hours ago, I turned 29. About 3 hours ago, $4 million of assets were stolen from one of my public wallets. All stolen transactions seemed to be manual transfers and lasted for more than 11 minutes." According to monitoring on the same day, the hacker who invaded Suji Yan's wallet had transferred the stolen assets to 7 wallet addresses and exchanged them for a total of 1,690.17 ETH. Suji Yan later posted again that the stolen funds were personal assets and professionals had intervened.
The US SEC announced this week that it would lift lawsuits against several crypto companies, including Coinbase, ConsenSys, Gemini Trust, etc.
On February 26, it was reported that the US SEC abandoned its investigation into DeFi company Uniswap Labs. The warning was reportedly issued in the form of a "Wells Notice", which the US Securities and Exchange Commission sends to a company before initiating formal litigation, giving the company a last chance to refute any allegations. The specific nature of the SEC's allegations against Uniswap Labs is not yet known.
On the 27th, the U.S. SEC document showed that it had concluded its investigation into Gemini Trust Company, LLC and decided not to take enforcement action. Gemini co-founder Cameron Winklevoss confirmed on social media that the investigation lasted 699 days and received a notice from Wells 277 days ago. Winklevoss criticized the SEC's regulatory actions for causing huge losses to the crypto industry, accusing the agency of enforcing the law without establishing clear rules, causing companies to bear high legal fees and economic losses.
On the same day, it was reported that the SEC, Justin Sun and his three companies filed a joint application with the Manhattan Federal Court to suspend the case in order to explore potential settlement options. The SEC sued Justin Sun and his companies, the Tron Foundation, the BitTorrent Foundation and Rainberry (formerly BitTorrent), in March 2023, accusing them of selling unregistered securities through TRX and BTT tokens. Both parties requested the court to approve a 60-day suspension of the case and promised to submit a joint status report at that time.
On the 28th, according to market news, the US SEC announced that it had lifted the civil enforcement action against Coinbase.
On the same day, according to people familiar with the matter, the U.S. SEC and Consensys have reached an agreement in principle to terminate the SEC's lawsuit against the blockchain software company. The withdrawal of the lawsuit needs to be approved by the committee, and the Wall Street regulator is expected to issue an announcement soon.
Crypto market sentiment suddenly changed this week, from "neutral" to "extreme fear"
This week, the cryptocurrency panic and greed index dropped to a low of 11, and market sentiment shifted from "neutral" to "extreme fear." Note: The panic index threshold is 0-100, including indicators: volatility (25%) + market trading volume (25%) + social media heat (15%) + market research (15%) + Bitcoin's proportion in the entire market (10%) + Google hot word analysis (10%).
SBF tweeted again after two years, talking about his experience of firing employees
On February 25, FTX founder SBF tweeted again after two years. SBF said, "I sympathize with U.S. federal government employees. I haven't checked my emails for hundreds of days. And I can confirm that unemployment is not as easy as it seems. Firing people is one of the hardest things to do in the world. It's terrible for everyone involved." Related reading: "What does it mean that SBF tweeted again after 767 days?"
CZ announced his holdings: BTC accounts for only 1.32%, BNB accounts for 98.51%
On February 24, Binance founder CZ announced his investment portfolio on Binance Square, of which BNB accounted for 98.51%, BTC accounted for 1.32%, and EURI accounted for 0.17%. CZ said he didn't remember where EURI came from, and speculated that it might be related to Binance Card. Related reading: "CZ calls himself a boring person, and only 1.3% of his holdings are BTC"
Traditional financial giant Citadel Securities plans to become a cryptocurrency market maker
On February 25, Bloomberg reported that Citadel Securities, a giant in the traditional financial industry and the largest market maker on the New York Stock Exchange with a market value of $65 billion, plans to enter the field of cryptocurrency market making, betting that President Trump's support for the crypto industry will bring market prosperity. Citadel Securities plans to join the list of market makers of multiple trading platforms such as Coinbase Global, Binance and Crypto.com, and may initially set up a market making team outside the United States. Related reading: "Regulation continues to relax, are American crypto market makers back?"
Strategy Bitcoin holdings' floating profit dropped to $6.923 billion, with an average purchase price of about $66,357
On February 28, Bitcoin briefly fell below $80,000. According to mstr-tracker data, Strategy (formerly MicroStrategy) currently holds a total of 499,096 Bitcoins, with a total purchase cost of approximately $33.119 billion and an average purchase price of approximately $66,357. The current total value of Bitcoin holdings is $40.041 billion, and its Bitcoin holdings have fallen to $6.923 billion. On the same day, its founder Michael Saylor posted a self-deprecating post on social media: "If necessary, sell a kidney, but keep the Bitcoin."
A Chinese man was killed while trading virtual currency in Jeju, South Korea. The suspects are four Chinese suspects.
On February 26, Modern Express reported that a Chinese man was found dead in a hotel in Jeju, South Korea, presumably killed while trading virtual currency. South Korean police have arrested four Chinese suspects, two women in their 30s, a man in his 30s, and a man in his 60s. It has been confirmed that the four suspects fled with 85 million won from the victim, and the motive and process of the crime are currently under investigation.
21 employees of the U.S. Government Efficiency Department resigned collectively, saying they refused to use technical expertise to "dismantle key public services"
On February 26, it was reported that 21 staff members of the Department of Government Efficiency (DOGE) led by Musk collectively resigned on February 25 local time. In their joint resignation letter, they refused to use their technical expertise to "dismantle key public services" and accused many of the people recruited by Musk of being "political dreamers" who lacked the skills or experience required to complete their work tasks. Meanwhile, New York Governor Cathy Hochul said on February 25 that recently fired federal staff were welcome to apply for state government positions through an online portal. Currently, DOGE is coordinating federal government layoffs with the stated goal of cutting federal bureaucracy, but there is no official total number of layoffs.
Ethereum Foundation Executive Director Aya Miyagotchi Promoted to Chair; Hsiao-Wei Wang and Tomasz Stańczak Appointed as Co-Executive Directors
On February 26, Aya Miyagotchi, executive director of the Ethereum Foundation, was promoted to chairman of the Ethereum Foundation. Aya Miyagotchi stated that he would adhere to the values of Ethereum, promote diversity, and expand the influence of Ethereum's vision and culture. He is committed to making Ethereum's technology and social innovation serve human values. In 2013, Aya Miyaguchi was responsible for operations in Japan at the trading platform Kraken. In February 2018, Aya Miyaguchi joined the Ethereum Foundation as an executive director, mainly responsible for coordinating and organizing the foundation's various activities, including internal affairs and cooperation with community members, such as education and events. Related reading: "Aya Miyaguchi, the new chairman of the Ethereum Foundation: from teacher to crypto pioneer" , "The Elegy of Ethereum's "Leftists""
Then on March 2, the Ethereum Foundation announced a new leadership structure, with Hsiao-Wei Wang and Tomasz Stańczak serving as co-executive directors from March 17. This marks a new chapter in the development of the Foundation, which will continue to support the growing Ethereum ecosystem.
Regarding the personnel changes of the foundation this week, Ethereum core developer timbeiko.eth posted a message saying, "The past few months can be said to be turbulent. Although it is obvious that Ethereum still needs to make many changes to win. If grasped properly, it will become one of the most influential turning points in history. Ethereum's culture is unique, which is the result of top-down and bottom-up joint shaping. With Aya Miyaguch as the chairman of the EF board of directors and the establishment of formal and informal advisory circles, I believe that Ethereum will stick to the OG values while still being attractive to new forces. "
YZi Labs invests in crypto AI startup Vana, CZ joins as advisor
On February 24, it was reported that YZi Labs (formerly Binance Labs) has invested in crypto AI startup Vana, and Binance founder CZ will join as an advisor. The specific investment amount has not been disclosed. Vana is YZi Labs' first AI investment since its name change last month. Before the name change, Binance Labs supported several crypto AI projects including Sahara AI and MyShell. A YZi Labs spokesperson said that the focus has now expanded from Web3 to a wide range of fields including artificial intelligence and biotechnology, and will continue to explore opportunities brought by the intersection of various fields, but is also willing to invest in independent AI and biotechnology projects "to capture the entire spectrum of innovation."
A Guangdong company was suspected of issuing virtual currency for fraud, and the main offender was sentenced to 11 years in prison
On February 25, Guangzhou Daily reported that a Guangdong court recently concluded a virtual currency fraud case. The case showed that in May 2018, Xie Moumou promoted the appreciation potential of "AA Coin" through an Internet platform, and promised the victim that it would be listed on the exchange for trading, with an expected return of no less than 5 million yuan. An investor therefore invested 990,000 yuan to purchase more than 1.6 million AA coins, but these tokens were always locked and could not be traded. The court found that the defendant Xie Moumou fabricated facts to defraud others of property for the purpose of illegal possession, and the amount was extremely huge. He was eventually sentenced to 11 years in prison for fraud and fined 50,000 yuan. The judgment has come into effect.
pump.fun is testing the swap function internally; Raydium responded that Pump.Fun was a "strategic misjudgment"
On February 24, according to the relevant page, pump.fun is testing the swap function internally. The community speculates that it may launch its own Swap platform to replace Raydium, and the price of RAY tokens has fallen sharply. InfraRAY, a core contributor to Raydium, wrote that completely abandoning Raydium is a "strategic misjudgment" for this popular and profitable meme factory. He doubts whether Pump.Fun's self-built trading facilities can successfully replace Raydium. The market believes that Pump.fun is no longer satisfied with being Raydium's "traffic provider", but is trying to become a "controller" of liquidity. More than 30% of Raydium's daily trading volume comes from Pump.Fun tokens. If the latter switches to self-built AMM, its fee income will shrink significantly. Related reading: "Pump.fun builds its own AMM, can Raydium still monopolize the meme liquidity pool?" , "Data analysis shows how much Raydium relies on pump.fun?"
Kanye West announces his temporary withdrawal from Twitter, and his plan to issue meme coins may be put on hold
On February 25, the famous rapper Kanye announced that he would temporarily quit Twitter. "I'm temporarily quitting Twitter. They just deleted my last tweet. Jordan left the NBA." Kanye said last week that he plans to launch the meme token YEEZY this week. According to the analysis of crypto KOL @lokithebird, Kanye may have transferred (or entrusted) his X account to BarkMeta Doginals for $17 million. Kanye later denied that he had transferred (or entrusted) the X account. Related reading: "Suspicion of singer Kanye issuing coins: X account is suspected to be sold, is it another elaborate "harvest"? "
This week's hot articles
"Bitcoin plummeted 20% in 30 days. What are the reasons and how will it trend in the future?"
Bitcoin has been affected by a series of hacking incidents recently, and market sentiment has fallen sharply, and the amount of liquidation in the entire network has continued to rise. The cryptocurrency panic index hit a new low, and market sentiment turned to extreme fear. Analysis pointed out that the reasons for the decline in Bitcoin prices include the liquidation of IBIT funds, the failure of Trump's Bitcoin strategic reserve plan to be fulfilled, and the policy uncertainty of the US government. In addition, limited market liquidity and the decline of US-related crypto stocks have also exacerbated market anxiety. Despite this, some analysts believe that we are still in the middle of the bull market and may usher in new highs after a short-term correction.
The Elegy of Ethereum’s “Leftists”
This week, Aya Miyaguchi, former executive director of the Ethereum Foundation, was promoted to chairman. However, both Vitalik and Aya are facing tremendous pressure from the community. Aya is seen as an executive director who does nothing, although she has made some contributions to promoting events such as ETH Devcon and building a global community. In addition, Ethereum's core values have always adhered to decentralization and social values, but as the market shifts to the right, more and more voices are questioning Ethereum's non-profit model and even calling for a more capitalized strategy. The community's mood continues to fluctuate, and the conflict of values between the leadership and members is becoming more and more obvious.
"After 767 days, what does it mean that SBF tweeted again?"
SBF, who is still in prison, tweeted this week about the difficulty of firing employees, saying that this is usually a problem of company management rather than the fault of the employees themselves. He emphasized that if employees cannot play their value in the company, continuing to stay will only waste resources. At the same time, SBF changed his political stance and publicly supported Trump, saying that his disappointment with the Biden administration prompted him to move closer to the Republican Party. The Trump administration's "Government Efficiency Department" also carried out large-scale layoffs to promote cost cuts. SBF's remarks coincide with the policies of the Trump administration, especially his views on layoffs and personnel restructuring.
"Citadel Securities, the largest market maker on Wall Street, is short ETH?"
There have been recent rumors that Citadel Securities may be one of the institutions holding $3.1 billion in Ethereum short assets. As one of the world's largest market makers, Citadel's recent entry into the crypto market has attracted attention from the outside world. As early as 2021, Citadel quietly laid out crypto assets through cooperation with Sequoia Capital and Paradigm. The integration of its market making business with the crypto market has made it an important market player. Citadel's trading strategies and short operations have long shown influence in the stock market, and have affected the price trend of ETH through similar methods. Therefore, although their short behavior is part of risk hedging, it is also considered one of the new "big dealers" in the crypto market.
"Regulation continues to loosen, are US crypto market makers back?"
Two traditional market makers—Citadel Securities and Wintermute—are planning to enter the U.S. crypto market, bringing new life to the market. Citadel plans to expand its cryptocurrency market-making business, betting on the Trump administration's policy support, while Wintermute is preparing to expand its over-the-counter and derivatives business in the United States. As U.S. regulatory policies are gradually relaxed and institutional confidence increases, it is expected to drive market liquidity and trading activity. However, regulatory and competitive pressures remain challenges, especially the market concentration risks that traditional financial giants may bring, which may lead the crypto market from "decentralization" to "centralization."
"How do the dealers sell their stocks this time? Let's see what pitfalls you have encountered?"
The current market adjustment period shows that many Altcoin have plummeted. Some project owners manipulate the market through carefully designed shipping methods, such as using unilateral liquidity pools, false repurchases, spot control and other means to manipulate the currency price, attract retail investors to invest and sell at high prices. In addition, some project owners attract users to lock positions through high-interest pledges, which actually provides cover for their own cashing out. Retail investors should have the ability to think independently in the market, avoid being guided by the dealer's operations, stay calm, and avoid becoming the object of harvesting.
Super.exchange is a decentralized asset issuance platform based on the Solana ecosystem, which aims to solve problems such as insider trading and excessive price fluctuations in the traditional meme market. Its innovative Super Curve mechanism optimizes the price discovery process of tokens, avoids liquidity problems that may be caused by traditional Bonding Curve, and ensures the continued growth of the market. The platform also introduces ticker uniqueness and the community-driven $SUPER platform coin to enhance the transparency and fairness of transactions. Despite this, how to build community consensus without short-term incentives remains an important challenge facing Super.exchange.
This week, Binance Launchpool launched the 64th project RedStone (RED). RedStone is a multi-chain oracle across EVM and non-EVM chains, which has gained rapid growth in the market with its modular architecture and highly optimized verification mechanism. Compared with traditional oracles, RedStone improves security, scalability and low latency through the EigenLayer AVS framework, allowing it to maintain high stability and accuracy during market fluctuations. RedStone's token RED will be used as a utility token for staking and participating in DeFi protocols, with an initial circulation supply of 28% and a focus on community growth. The RED token price is expected to be around $2, and it is expected to reach a higher valuation in the future.
The recent $1.5 billion Bybit and Safe hack has attracted widespread attention. The hacker's technique was almost perfect and no traces have been left so far. The investigation found that there was no problem with Safe's front-end code, but the code in the production environment was tampered with, which may have been done by a long-term trusted developer or team member. This incident highlights the security loopholes of multi-signature wallets, especially the importance of Safe in the Ethereum ecosystem, which affects the security of a large number of projects and institutions. The incident caused panic in the crypto, and many people began to doubt the security of multi-signature wallets, and even believed that this might be a signal of the end of the current bull market.
"Which stablecoin yield pools are the safe havens now?"
In the current market environment, stablecoin income opportunities have gradually become an effective way to cope with challenges and achieve growth. Multiple platforms offer different income products, such as Hyperliquid's HLP vault (annualized yield of 18.61%), Sky Money's reward vault (8.52%), and Ethereal platform's points activity (estimated annualized yield of 15%-20%). In addition, the AO project offers an annualized yield of approximately 14.37%, while Berachain's USDC.e/HONEY pool offers a yield of 13.79%. The airdrop mining activities of the Sonic platform also create unique opportunities. Although these opportunities have their own characteristics, risks and returns also need to be carefully evaluated.
"The average return rate is 400%. Do you know these three high-yield crypto IDO platforms?"
As a new financing method, IDO (Initial Decentralized Exchange Offering) has become an important bridge between project owners and the crypto community. The three major platforms, Echo, Legion and Buidlpad, each represent a different IDO model: Echo focuses on elite recommendation and community-driven, Legion innovatively introduces a reputation scoring system, and Buidlpad emphasizes compliance and openness. They provide financial support to project owners through different mechanisms and provide ordinary users with opportunities to participate, which promotes the decentralization of crypto financing and helps project owners find a balance between community and compliance.
《Pump.fun overturned the table? Self-built AMM pool to get rid of Raydium's constraints》
Pump.fun launched its own AMM pool in an attempt to challenge Raydium's dominance in the Solana ecosystem. Previously, Pump.fun earned transaction fees by providing traffic to Raydium, but after building its own AMM pool, Pump.fun can control liquidity and transfer transaction fee income to its own platform. If successful, this strategy may weaken Raydium's revenue and market position and push Pump.fun to build its own DeFi ecosystem. The move triggered a sell-off of Raydium's token $RAY in the market, while the price of Pump.fun's test token rose, showing the potential of its strategy.
On February 26, Donald Trump Jr., co-founder of World Liberty Finance, attended the "DeFi World 2025" conference, an event surrounding ETH Denver, and discussed crypto regulatory policies, the future of DeFi, and the role of the United States with important guests from the crypto industry. He advocated that the United States should lead the future of finance by formulating reasonable regulations to promote the development of cryptocurrency and blockchain technology. He also mentioned that through projects such as WLFI, the combination of traditional finance and decentralized finance can promote financial democratization and provide opportunities for more people. In addition, he encouraged novices to start with small investments, gradually understand the operation of the crypto field, and avoid excessive leverage. He is confident in the potential and future of crypto technology and believes that it can bring revolutionary changes to the global financial system.
"Meme ends, DeFi returns, which possible TGE projects are worth ambush?"
In 2025, the DeFi field may usher in a wave of TGE. Although the current TVL has not yet broken through the 2021 high, the transaction volume has reached a new high, reflecting the strong interest of capital and users. Several high-quality pre-TGE projects are worth paying attention to, including Infinex (DeFi trading platform), Babylon (Bitcoin staking protocol), Lombard (DeFi lending platform), etc. These projects have outstanding innovation and team strength. As DeFi gradually returns to fundamentals, these projects may become important market participants in the future.
Gambling + AI, one article to understand what is "GambleFAI"
This article describes the development of GambleFi, which emerged in 2023 and was gradually marginalized in 2024 due to the market shift and the popularity of meme coins. Entering 2025, GambleFAI came into being, combining the advantages of decentralized gambling and AI technology. With the advancement of AI in the field of large language models (LLMs) and machine learning, GambleFAI enables players to obtain more accurate predictions, significantly improving their winning rate. AI Agent is driving innovation in the industry, not only improving prediction accuracy, but also bringing higher return potential to players, marking a technological leap in the gambling industry.
Disappearing Liquidity: Analyzing the Multiple Factors Behind the Decline of the Crypto Market
This article analyzes the recent decline in the crypto market, which has complex reasons, including the Bybit hack, Ethereum weakness, and the return of stock market volatility. In particular, the cryptocurrency market has lost some momentum with reduced liquidity. Although the market has pulled back, it does not mean the arrival of a long-term bear market. The technical pullback is healthy, and the crypto market still needs liquidity to continue to prosper.
"Ethereum core developers explain in detail: Why is Ethereum rollback no longer feasible today?"
Ethereum cannot roll back to reverse the hack because the current Ethereum ecosystem is very different from historical cases such as Bitcoin and TheDAO. The transfer of funds in the hack did not violate the protocol rules, and the funds were used quickly, which could not be repaired by rollbacks as in the past. In addition, the high degree of interconnectivity of Ethereum's decentralized applications and cross-chain bridges makes any attempt to roll back likely to trigger an unmanageable chain reaction. Even if it is technically feasible, rollbacks will bring great social controversy and unforeseen consequences, making rollbacks impractical.
"Sonic Ultimate Operation Manual, How to Seize the DeFi Flywheel Opportunity?"
This article introduces the background of Sonic, the design of Tokenomics, and the operating principle of the DeFi flywheel, analyzes the potential risks in the ecosystem, and explains in detail how to profit from this mechanism. By screening multiple projects in the Sonic ecosystem, the author recommends opportunities in areas including DEX, lending, derivatives, and meme to readers, aiming to help readers seize high-potential projects.
This discussion mainly focused on several hot issues in the crypto industry, including the Bybit hack, the Libra Meme coin trading scandal supported by the Argentine president, and Kanye West's Yeezy token. The depressed market sentiment may deter others, and Yeezy may become the last celebrity coin. Even so, there are still some people in the industry who focus on the development of infrastructure and applications, and they don't care too much about short-term market fluctuations. Some guests also pointed out that they hope to see more favorable policies introduced so that benign participants like Coinbase will no longer be attacked unnecessarily and more resources will be used to combat real illegal activities.
《CZ calls himself a boring person, and only 1.3% of his holdings are BTC》
CZ(CZ) disclosed his cryptocurrency portfolio on Binance for the first time at the request of the community, showing that his largest position is the platform coin BNB, accounting for 98.51%, followed by Bitcoin, which holds only 1.32%, and a small amount of EURI. CZ said that he is not a frequent trader, and for him there is no difference between holding BNB and Bitcoin. It is worth noting that this is only his position on Binance and may not represent all assets. In addition, his main asset is the BNB he holds, and it is speculated that his holdings may be as high as 94 million.
"Niche players are secretly delighted, Hyperliquid NFT is actually rising against the trend?"
The NFT market is gradually getting rid of the traditional value judgment criteria. Many projects use NFT to warm up the ecosystem or directly sell token quotas by combining NFT with upcoming token issuance projects. The NFT trading market on Hyperliquid is gradually emerging. Although it is not yet fully mature, there are already transactions and projects of a certain scale. Projects such as Wealthy Hypio Babies and K-16 have performed outstandingly and attracted many players to participate. At the same time, new projects in the market are constantly emerging, such as Hypers, PiP, etc. Although the overall market situation is uncertain, players still need to carefully evaluate the value of the community and partnerships in NFT casting and trading.
The TRUMP coin launched by Trump exceeded $20 billion in market value in just a few hours and attracted a large number of crypto investors. However, this crypto craze based on the celebrity effect soon burst into a bubble. In just over a month, the market value of the TRUMP coin fell by more than 80%, and other celebrity-issued coins such as Melania Coin and Argentina President Coin also collapsed rapidly. The short-term surge and plunge of such tokens exposed the fragility of the crypto market and the risk of over-reliance on the celebrity effect. Although it attracted a lot of attention, it ultimately brought not only large-scale losses, but also questioned the concept of decentralization.
"The market is sluggish, why can MKR still rise against the trend?"
In this article, the author points out that $MKR (now $SKY) is expected to outperform in Q1/Q2 2025, mainly due to the growth momentum brought by the $30 million monthly buyback program, DAI/USDS supply close to historical highs, and the upcoming launch of SPK farming. Although the re-branding has not been favored by the market, its strong fundamentals, coupled with the potential benefits of the US stablecoin bill, are positive in the coming months.
"With the frequent loosening of regulations, is the crypto spring coming to the US market?"
Recently, the United States has shown a positive change in its regulatory attitude towards the crypto industry. The U.S. Securities and Exchange Commission (SEC) announced the termination of its three-year investigation into Uniswap Labs and did not take any enforcement action. At the same time, traditional financial giants such as Citadel Securities and Wintermute also plan to enter the U.S. crypto market. In addition, Alexey Pertsev, the founder of Tornado Cash, was temporarily released after a Dutch court ruled that his case was not subject to current laws. These events show that U.S. regulatory policies may gradually relax and promote the development of the crypto industry, especially innovation in the field of decentralized finance (DeFi).
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