1. Top CEX Coins
Top 10 CEX Trading Volume and 24-Hour Price Change:
BNB: 6.11%
BTC: 6.39%
ETH: 5.04%
SOL: 7.58%
DOGE: 10.93%
XRP: 11.94%
TRUMP: 6.02%
ADA: 8.47%
RARE: 3.48%
PEPE: 16.33%
24H Gainers (Data from OKX):
BANANA: 39.8%
PRQ: 27.24%
AUCTION: 20.88%
ID: 14.47%
TIA: 11.36%
VELO: 9.58%
SWFTC: 8.63%
CTC: 7.75%
VRA: 7.68%
SONIC: 7.47%
2. Top 5 On-Chain Meme Coins (Data from GMGN):
YODA
PIPE
SAYLOR
PROMETHEUS
WTFO
3. 24H Trending Coins
PWEASE: A Meme Coin inspired by the interaction between the US Vice President Vance and the Ukrainian President Zelenskyy, the name is a humorous misspelling of "please" and also mocks the perceived arrogance of the US Vice President Vance in his interaction with the Ukrainian President Zelenskyy.
Headlines
CBOE Submits Proposal to Allow Fidelity Ethereum ETF to Engage in Staking
According to market news, the Chicago Board Options Exchange (CBOE) has submitted a proposed rule change to the US Securities and Exchange Commission (SEC) to modify the regulations related to the Fidelity Ethereum Trust, whose shares have been approved by the Commission to be listed and traded on the exchange under BZX Rule 14.11(e)(4), with the aim of allowing the trust's held Ethereum to be staked.
Cynthia Lummis Announces Reintroduction of New Version of Bitcoin Bill
US crypto-friendly Senator and Chair of the US Senate Banking Digital Assets Subcommittee, Cynthia Lummis, has announced on the X platform the reintroduction of a new version of the Bitcoin bill, which will incorporate the vision of former President Trump to establish a US strategic BTC reserve. Cynthia Lummis stated that BTC is not only a technological opportunity, but also a national imperative for the US to maintain its financial leadership in the 21st century.
US Congress Votes to Overturn IRS Crypto Tax Reporting Rule
On March 12, 2025, the US House of Representatives passed a resolution 292-132 to overturn the IRS rule requiring crypto platforms (including DeFi entities) to collect and report taxpayer and transaction data. The bipartisan resolution aims to avoid imposing unreasonable regulatory burdens on DeFi platforms. Opponents argue that this could enable tax evasion and criminal activities, leading to a $4 billion increase in national debt. The IRS stated that the rule was intended to ensure tax compliance, consistent with existing broker regulations. If passed by the Senate and signed by President Trump, the IRS will be permanently prohibited from implementing similar rules.
Trump stated on the Truth social media platform that, in response to Canada's Ontario province imposing a 25% tariff on "power" entering the US, he has instructed the Commerce Secretary to impose an additional 25% tariff on all steel and aluminum entering the US from Canada, bringing the tariff level to 50%, effective tomorrow, March 12. Additionally, Canada must immediately cancel the 250% to 390% anti-US farmer tariffs on various US dairy products, which have long been considered outrageous. A national power emergency will soon be declared in the threatened areas, allowing the US to quickly take necessary measures to alleviate the abuse from Canada. If Canada does not similarly cancel its other shocking long-term tariffs, auto tariffs entering the US will be significantly increased on April 2, which will permanently shut down Canada's auto manufacturing industry.
Industry News
Copper and Anchorage Digital have become the custodians for asset manager Cantor Fitzgerald's BTC financing business, which aims to provide leveraged trading services on institutional investors' BTC holdings, with an initial funding of $2 billion. It's worth noting that Cantor Fitzgerald's former CEO, Howard Lutnick, is currently the Commerce Secretary and has been a supporter of incorporating BTC into traditional finance.
Coreweave Enters $11.9 Billion Strategic Agreement with OpenAI
Coreweave has announced a strategic agreement with OpenAI, valued at up to $11.9 billion, with OpenAI also becoming an investor in the AI HyperScaler by issuing $350 million worth of Coreweave stock. The deal is said to involve expanding OpenAI's computing capacity and extending its latest models to its hundreds of millions of global users.
Trading Protocol Vest Raises $5 Million, Backed by BlackRock and Jane Street Group
Trading protocol Vest has announced a $5 million funding round, with investments from BlackRock, Jane Street Group, Selini Capital, Amber Group, QCQ Group, and Big Brain VC.
Vest replaces fragmented individual risk assessment needs, providing a verifiable, neutral framework. Financial participants no longer need to rely on trust, but can use a shared, objective risk model that can dynamically adjust based on market conditions.
Project News
StarkWare Announces Establishment of Strategic BTC Reserve, Plans to Hold More Funds in BTC
StarkWare, the protocol contributor and development company behind Starknet, has announced the establishment of a "strategic BTC reserve" and plans to hold more funds in BTC going forward. StarkWare was valued at $8 billion in its previous funding round and is a core contributor to the Ethereum Layer 2 Starknet. The company has invested more time and resources into BTC research in recent years, but has not disclosed the specific details of how much BTC it currently holds or plans to acquire.
GoPlus Security Releases Buyback Plan and User Compensation Scheme
In response to the GPS token price fluctuations, GoPlus Security has released a remedial and improvement plan on the X platform:
1. The market maker fund has repurchase commitments, and Binance has frozen the USDT assets (currently with a balance of 4.34 million USDT) generated through GPS trading in the original market maker account. Once the regulatory procedures are completed, these funds will be transferred under our control. We commit: Within 90 days, in accordance with laws, regulations and market rules, we will use these funds to repurchase GPS tokens to support the healthy development of the market; Through this repurchase plan, we will optimize market liquidity, reduce the impact of previous market making activities, and rebuild market confidence; Ensure the repurchase process is transparent and compliant, provide regular updates to the community, and maintain close communication with relevant parties. Repurchase principles: Set limit orders on the Binance GPS/USDT trading pair; Make multiple small purchases per day to avoid causing market fluctuations; All repurchased tokens will be permanently destroyed to prevent any impact on the future market.
2. Additional compensation plan: The team has allocated $2 million in additional funds to be directly compensated to users. This compensation will be distributed directly through Binance to users who made net purchases on the Binance platform during the period from March 4, 2021 at 21:00:00 to March 5, 2021 at 17:55:59 (UTC+8). Eligible users will receive a corresponding share of the $2 million USDC. Net buyer definition: The total amount of GPS tokens purchased during the eligibility period minus the total amount of GPS tokens sold must be a positive number. Note: This compensation plan includes both spot and leverage users.
Regulatory Developments
Acting SEC Chair: Will no longer require crypto companies to register as trading systems
Mark Uyeda, the Acting Chair of the U.S. Securities and Exchange Commission (SEC), stated that he has instructed staff to study abandoning a plan that would have expanded the definition of alternative trading systems to include some cryptocurrency companies. The SEC proposed in 2022 to require some cryptocurrency companies to register as alternative trading systems, facing criticism from the industry over potentially increased regulation and additional rules. The plan has not been finalized yet.
Investment and Financing
Crypto payment company Mesh completes $82 million Series B funding, led by Paradigm
Crypto payment company Mesh announced the completion of an $82 million Series B funding round to expand its stablecoin-based payment settlement network. The round was led by Paradigm, with participation from ConsenSys, QuantumLight, Yolo Investments, Evolution VC, Hike Ventures, Opportuna, and AltaIR Capital.
Mesh aims to build a payment network that connects crypto wallets, exchanges, and payment service providers, supporting users to pay with cryptocurrencies like BTC, ETH, and SOL, while merchants can choose to settle in USDC, PYUSD, or RLUSD.
Real estate tokenization company Arda announced the completion of a $3 million Pre-Seed funding round, with Lightshift Capital participating. Arda will not directly address pain points like mortgage, custody, and property inspection in real estate, but its company will serve as the foundation - aggregating data and building blockchain infrastructure - to help other companies execute transactions.
Canaan completes $200 million Series A-1 preferred stock financing
Bitcoin mining hardware manufacturer Canaan announced that it has completed a $200 million Series A-1 preferred stock financing. The first tranche of the preferred stock financing was completed on March 10, 2025, with the receipt of the initial $100 million. It is expected that another $100 million related to the second tranche will be received in the near future, subject to certain terms and conditions. The funds will support Canaan's research and development, production expansion, and digital mining infrastructure investments in North America.
Voices
Goldman Sachs lowers US economic forecast, sees 20% recession risk
The forecast for US economic growth has been significantly lowered due to concerns that President Trump's trade war will lead to a global recession.
Goldman Sachs stated that due to Trump's large-scale global tariffs, the US economy's growth rate this year is expected to be only 1.7%, lower than the previous 2.4% forecast. Goldman Sachs' downgrade reflects Wall Street's growing concerns about the Trump administration, as the US stock market plunged on Monday, with the tech-heavy Nasdaq index falling as much as 3.9% and the S&P 500 index declining 1.5%, after Trump refused to rule out the possibility of a US recession. Goldman Sachs predicts that the US currently faces a 20% recession risk, and economists believe that once the prospect of economic threat becomes clear, Trump will downplay the tariffs.
Bitcoin Magazine CEO David Bailey posted on X that the implementation of the US strategic Bitcoin reserve executive order will be "much tighter than the market expects", with the timeline calculated in "days and weeks, not months or years". Bailey stated that the US government is "keeping pace with technological developments" and taking "urgent action".
