SEC Crypto Assets Working Group Officially Announces First Roundtable to be Held on March 21
According to The Block, the U.S. Securities and Exchange Commission's (SEC) newly formed Crypto Assets Working Group will hold its first roundtable discussion later this month as part of a series of meetings. The SEC said in a Monday statement that the meeting, titled "Our Past and Future - Defining the Status of Securities," will be held on March 21 at the agency's headquarters in Washington, D.C. This roundtable is part of a "spring sprint to seek crypto clarity" series. Republican Commissioner Hester Peirce, who is leading the Crypto Assets Working Group, said in the statement: "I look forward to leveraging public expertise to develop a workable regulatory framework for crypto." Peirce indicated that she plans to prioritize classifying some tokens as "non-securities."
SEC Withdraws Lawsuit Against Kraken, Kraken Calls It a Turning Point for the U.S. Crypto Industry
According to a Kraken announcement, the U.S. Securities and Exchange Commission (SEC) has agreed to withdraw its lawsuit against Kraken, with no fines to be paid and no admission of wrongdoing, and Kraken's business model will not be affected. Kraken stated that this dismissal is not only a legal victory for the company, but also a critical turning point towards fair regulation for the U.S. crypto industry. Kraken criticized the SEC's previous "regulation by enforcement" strategy, saying it has hindered innovation and investment, and put the U.S. at a disadvantage in the global crypto market. The company thanked the White House and the SEC's new leadership for driving this change, and said it will continue to support the Congressional and SEC Commissioner Hester Peirce-led "Crypto Task Force" in advancing a clear digital asset regulatory framework. Kraken believes that a stable and predictable regulatory system will help attract investment, foster industry growth, and maintain the U.S.'s competitiveness in the global digital asset economy. The company reiterated that it will continue to drive innovation while protecting consumer interests, and collaborate with regulators to ensure there is no repeat of the "regulation by enforcement" approach.
Trump: Reciprocal Tariffs to Take Effect on April 2
According to Jinshi News, U.S. President Trump said that reciprocal tariffs will take effect on April 2. Tariffs on Canada and Mexico will begin on Tuesday.
Yuga Labs Announces SEC Has Officially Concluded Investigation into the Company
Yuga Labs posted on the X platform: "After over 3 years of investigation, the U.S. Securities and Exchange Commission (SEC) has officially concluded its investigation into Yuga Labs. This is a huge victory for the NFT space and all the creators driving our ecosystem forward. NFTs are not securities."
Tencent Metaverse App Tops China's App Store Free Downloads, Surpassing DeepSeek
The Tencent Metaverse App has risen to the top of the free App downloads chart on the Apple App Store in China, surpassing DeepSeek.
Nasdaq Has Filed a 19b-4 Application for the Grayscale Hedera ETF
According to Cointelegraph, Nasdaq has filed a 19b-4 application to list and trade the Grayscale Hedera ETF (HBAR).
NYSE Arca Has Filed a 19b-4 Application for the Bitwise Dogecoin ETF
NYSE Arca has filed a 19b-4 application for the Bitwise Dogecoin ETF, in which the "text of the proposed rule change" section states that pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4 thereunder, NYSE Arca proposes to list and trade shares of the Bitwise Dogecoin Exchange Traded Fund on the NYSE Arca marketplace under NYSE Arca Rule 8.201-E (Commodity-Based Trust Shares).
Strategy: Held 499,096 BTC as of March 2, No Additional Purchases in the Past Week
According to Strategy's (formerly MicroStrategy) latest 8-K filing, the company did not sell any Class A common stock or purchase any additional Bitcoin between February 24 and March 2. As of March 2, 2023, Strategy and its subsidiaries held a total of 499,096 BTC, with an aggregate purchase price of approximately $33.1 billion and an average purchase price of $66,357 per BTC. Additionally, the company's board of directors declared a quarterly cash dividend of $1.24 per share on the 8.00% Series A Perpetual Preferred Stock (STRK), payable on March 31 to shareholders of record as of March 15.
Arthur Hayes: Believes We Are Still in a Bull Market Cycle, Worst-Case Bitcoin Could Drop to $70,000
BitMEX co-founder Arthur Hayes stated in his latest blog post that while U.S. stock market indices remain near all-time highs, Bitcoin has signaled an impending liquidity crisis. Based on this, Hayes believes the U.S. stock market will experience a severe correction due to concerns about an economic recession. Hayes pointed out that if Bitcoin leads the trend during market declines, it will also play a similar role during upswings. Due to the massive leverage in the system, even a minor financial disturbance could quickly escalate into a full-blown panic. If his prediction is accurate, the Federal Reserve will likely take action soon. Bitcoin will be the first to bottom out and rebound, while the fiat-based financial system dominated by the U.S. stock market will subsequently fall into turmoil. Hayes remains convinced that the current cycle is still in a bull market, so the worst-case scenario for Bitcoin is a drop to the previous cycle's all-time high of $70,000. However, he is uncertain if it will reach that level. A positive signal is the decline in the U.S. Treasury General Account balance, which is equivalent to a liquidity injection. Confident in Trump's financial policies and their objectives, Hayes increased his risk exposure when Bitcoin was trading in the $80,000 to $90,000 range. If this is just a "Dead Cat Bounce," he expects Bitcoin to retest the $80,000 lows. If the S&P 500 or Nasdaq 100 index falls 20% to 30% from their all-time highs, and a major financial institution is on the verge of collapse, the global markets may synchronize a downturn, and all risk assets, including Bitcoin, could plummet below $80,000, potentially reaching $70,000. Regardless of market fluctuations, Hayes stated that he will cautiously accumulate at lower levels, avoid leverage, and wait for the ultimate shakeup of the global (especially U.S.) fiat financial markets, which will drive Bitcoin to $100,000 or even higher. He concluded, "Stay focused, buy Bitcoin."
Cronos Proposal to Restore 70 Billion Destroyed CRO Faces Strong Opposition, Currently 95.7% Against
The Layer1 blockchain Cronos is facing strong opposition to a proposal to restore the 70 billion CRO tokens that were destroyed in 2021. Early voting results on Mintscan show that 95.7% of participants have voted against the plan. The voting is expected to end on March 17. Additionally, Cryptoslate reported that CRO advocate Wyll Bilderberg stated on the X platform: "Burn is burn, burned tokens should not be revived. I almost never oppose anything that happens on Cronos, but today, I strongly oppose! If this proposal passes, it will only confirm that Cronos is highly centralized and therefore untrustworthy." Previously, Cronos had proposed to reissue the 70 billion destroyed tokens to "create a Cronos strategic reserve."
AI Company CoreWeave Files for IPO, Aims to Raise $4 Billion at $35 Billion Valuation
Here is the English translation:According to CoinDesk, CoreWeave, an AI company that closely collaborates with bitcoin miner Core Scientific, has filed for an IPO today, aiming to raise $4 billion and achieve a valuation of over $35 billion. The prospectus shows the company generated $1.9 billion in revenue in 2024, but incurred a net loss of $863 million due to AI-related investments. The company's cumulative losses have reached $1.5 billion. CoreWeave has invited Core Scientific to help build a 500 MW AI infrastructure. When CoreWeave was still engaged in Ethereum mining, the latter was its largest GPU supplier.
Famous internet streamer Amouranth claims she was robbed at gunpoint and had cryptocurrency demanded
According to Cointelegraph, on the night of March 2nd, famous internet streamer Amouranth (real name Kaitlyn Siragusa) posted a series of posts on the X platform, stating that she had been the victim of a home invasion robbery, with the robbers demanding cryptocurrency from her. Just hours after her first post on the X platform, on March 3rd, she posted an update, saying there were three armed intruders, and included what appears to be footage from a security camera. It is reported that after she led these three men to another part of the property, three loud bangs were heard, and the three men then ran out of the frame. In November 2024, Amouranth posted a screenshot of her Coinbase account, showing she held around 211 bitcoins, worth $20 million at the time, or $86,535 per bitcoin. The screenshot also showed she held around $80,000 worth of Ethereum, with Ethereum priced at $2,161 at the time. Amouranth is known for publicly sharing her financial status, having appeared on a YouTube personal finance show and sharing her earnings across various platforms.
Zora announces the launch of an "entertainment-only" MEME token, planning an airdrop in Spring 2025
According to The Block, the universal media registry protocol Zora announced in a Monday release that it will launch its eponymous MEME token on the Optimism-based Base network in the coming months. The upcoming token will be "for entertainment purposes only" and will not grant governance rights to holders. The first ZORA snapshot was taken on Monday, with the second snapshot scheduled for three days before the official ZORA airdrop, expected to occur at some point in Spring 2025. The token will have a total supply of 10 billion, with 26.1% allocated to contributors, 20% for incentives, 20% for the treasury, 18.9% for the Zora team, 10% for retroactive airdrops, and 5% for liquidity maintenance. Zora is a universal media registry protocol built on the Optimism stack. The company was founded in 2020 and launched its decentralized, creator-centric Zora network in 2023. In May 2022, Zora raised a $50 million round led by Haun Ventures, valuing the protocol at $600 million at the time.
AI startup Anthropic completes $3.5 billion funding, valued at $61.5 billion
According to Zhitong Finance, the AI startup Anthropic has announced the completion of a $3.5 billion funding round, with the company now valued at $61.5 billion. The round was led by Lightspeed Venture Partners, who invested $1 billion, with other investors including General Catalyst, Jane Street, and Fidelity Management & Research Company. Existing investors Menlo Ventures and Bessemer Venture Partners also participated in the round. Anthropic's soaring valuation is partly due to the rapid expansion of its business. According to sources, the company's annualized revenue was around $1 billion by the end of 2023, but has grown 30% so far this year. However, Anthropic did not comment on the specific revenue figures. The new funding will be used to develop the next generation of AI models, expand computing capacity, strengthen AI safety research, and drive expansion into the Asian and European markets. Last week, Anthropic released its more advanced AI model Sonnet and launched a new AI agent capable of automating software programming tasks, further demonstrating its cutting-edge AI R&D capabilities.
Hut 8's net profit reaches $331 million in 2024, holds 10,171 BTC and expands AI infrastructure
According to CoinDesk, the bitcoin miner Hut 8 achieved a net profit of $331 million in 2024, with annual revenue of $162 million, benefiting from the rise in bitcoin prices. As of the end of 2024, Hut 8 held 10,171 BTC, currently valued at around $905 million, with the majority used as collateral for the purchase of ASIC miners. The company manages 1,020 MW of energy and plans to expand to 12,300 MW. Meanwhile, it has reached a hosting partnership with Bitmain, expected to generate $125 million in annual revenue, and they will jointly develop the next generation of ASIC miners. Hut 8 is also increasing its investment in AI infrastructure, with its subsidiary Highrise AI signing a 5-year GPU cloud computing service agreement and receiving a $150 million strategic investment from Coatue to support its AI business development. Despite the strong performance, the company's stock price fell 7.25% today, with a market capitalization of $1.5 billion.
The market crash in February triggered $500 million in ETH liquidations
According to The Block, in February, the Ethereum lending market experienced the most severe liquidation event in the past 12 months, with nearly $500 million in collateral being liquidated. This was the second-highest monthly liquidation amount in DeFi history, following the $670 million liquidation during the market crash in May 2021. The surge in liquidations coincided with a significant drop in the overall cryptocurrency market capitalization, triggering a series of forced liquidations. These liquidations were primarily concentrated on the two major lending platforms, Aave and Compound, which handled the majority of the February liquidations. While lending protocols are designed to handle liquidations through automated processes, the scale of the February event highlights how quickly market conditions can deteriorate when the overall market sentiment shifts. For borrowers, this underscores the importance of maintaining healthy collateral ratios and sufficient buffers to withstand market downturns. Despite the massive liquidation volume, the leading lending platforms have demonstrated resilience, operating as designed even under stress. This operational stability represents an important milestone in the maturity of DeFi infrastructure, indicating that these protocols can handle large-scale deleveraging events without systemic risk.
Tether appoints Simon McWilliams as CFO, advancing comprehensive financial audits
According to the Tether announcement, the company has appointed Simon McWilliams as Chief Financial Officer (CFO) to drive the company's historic comprehensive financial audit. McWilliams has over 20 years of financial audit experience and will help Tether further enhance transparency and strengthen cooperation with regulators. Tether has previously established transparency benchmarks through quarterly audits with the global top-five accounting firm BDO, but this comprehensive audit will further verify its reserve assets and improve market confidence. Meanwhile, Tether has relocated to El Salvador and obtained a Digital Asset Service Provider (DASP) license. Tether's former CFO, Giancarlo Devasini, will transition to the role of Group Chairman, focusing on macroeconomic strategy to drive Tether's global expansion of digital asset applications.
CryptoQuant CEO Ki Young Ju wrote that the crypto market is gradually becoming a tool for the US to pursue national interests. Since the election of Trump, global moral standards have declined, and any behavior that aligns with Trump's and US interests is no longer considered illegal. He pointed out that the US has opened the market without strict regulation, and although it has not cracked down on fraudulent projects, it has clearly sent a signal: projects that follow the Trump administration's agenda and benefit US national interests will be supported. The issuance of Trump-themed tokens is a symbol of this trend. Ki Young Ju believes that this strategy may lead to "tokens that serve US national interests" being detrimental to other countries. At the same time, this trend is also unfavorable for assets like Bitcoin and Ethereum that are committed to globalization and neutrality. He speculates that based on Trump's recent statements, Bitcoin and Ethereum are in a delicate position of being "neither allies nor enemies".
SlowMist: STAR10 token holders have renounced contract ownership
According to SlowMist's monitoring, the latest on-chain data shows that the STAR10 project team has renounced contract ownership. Nevertheless, the security agency still reminds investors to remain vigilant, conduct sufficient due diligence (DYOR) when trading or holding the token, and guard against potential risks. The STAR10 token issued by football star Ronaldinho was previously reported to have high contract permissions, posing security risks, and investors' assets could be arbitrarily destroyed.
Infini proposes a white hat agreement, allowing hackers to retain 20% of stolen funds
According to on-chain information, Infini founder Christian has just transferred 0.1 ETH to the hacker's address, acknowledging their ability to discover protocol vulnerabilities and hoping to reach a white hat agreement. Christian proposes that the hacker can retain 20% of the stolen funds as a bounty, and the remaining part needs to be returned to the official designated wallet (0x7e857de437a4dda3a98cf3fd37d6b36c139594e8). If the hacker accepts this proposal, Infini says it will not pursue legal liability. It is currently unclear whether the hacker will accept the agreement.
CoinShares: Digital asset investment products saw net outflows of $2.9 billion last week
According to the latest CoinShares report, digital asset investment products have seen capital outflows for the third consecutive week, with last week's outflows reaching a record high of $2.9 billion, bringing the three-week total to $3.8 billion. Bitcoin was hit the hardest, with $2.59 billion in outflows last week, while short Bitcoin products saw a slight inflow of $23 million.
According to Ember Monitoring, a whale/institution that has been hoarding 40,000 ETH since September 2022 has just cleared its position, transferring 37,000 ETH (about $86.94 million) to Binance. The address has accumulated a total of 48,800 ETH at an average price of $1,651, and the transfer to Binance was at an average price of around $2,430, resulting in an overall profit of approximately $38.06 million.
FTX/Alameda has released the pledge of 3.03 million SOL and transferred it to multiple wallets
According to Lookonchain monitoring, FTX/Alameda has released the pledge of 3.03 million SOL (about $43.13 million) and transferred it to multiple wallets.
According to Lookonchain monitoring, a whale wallet holding over 110,000 ETH ($235 million) appears to be selling ETH. In the past 14 hours, the wallet has transferred 30,000 ETH ($68.55 million) to FalconX and Galaxy Digital, and received 7.76 million USDC from FalconX. The wallet may be related to Genesis Trading.
Hackers have completely cleaned up the 499,000 ETH ($1.39 billion) stolen from Bybit, taking 10 days
According to on-chain analyst Ember Monitoring, the hackers have completely cleaned up the 499,000 ETH ($1.39 billion) stolen from Bybit, a process that took 10 days. The ETH price fell 23% (from $2,780 to the current $2,130) during this process. The main channel used by the hackers for money laundering, THORChain, also benefited from the hackers' money laundering, generating $590 million in trading volume and $5.5 million in fee income.
