1. Top 10 CEX Trading Pairs and 24H Price Changes:
BTC: - 4.72%
ETH: - 6.32%
KAITO: + 44.07%
IP: + 25.01%
SOL: - 5.55%
DOGE: - 3.85%
LTC: + 7.83%
XRP: - 5.46%
SUI: - 2.11%
TRUMP: - 0.03%
24H Top Gainers (Data from OKX):
KAITO: + 44.07%
IP: + 25.01%
PUNT: + 16.61%
DUCK: + 14.55%
NC: + 13.09%
PRCL: + 12.53%
G: + 12.43%
BERA: + 11.94%
ANIME: + 10.16%
VINE: + 10.16%
2. 24H Hot Searched Coins:
IP, continuing to rise against the trend;
PI, an old "community coin", rising against the trend;
Headlines
Bybit Releases Hacker Forensics Report: Funds Stolen Due to Safe Infrastructure Vulnerability
Bybit co-founder and CEO Ben Zhou released a hacker forensics report provided by Sygnia and Verichains, which revealed that the theft of funds was due to a vulnerability in the Safe infrastructure, and malicious code was deployed at UTC 2023-02-19 15:29:25, specifically targeting Bybit's Ethereum multi-signature cold wallet.
Former US President Trump stated that he is launching a program that will provide residency and naturalization pathways for investors who pay $5 million, offering a new avenue for legal immigration, while he is also cracking down on undocumented immigrants. Trump said the "gold card" program will be launched within two weeks, and added that he believes his administration does not need Congressional approval.
Bank of America CEO: Fed Will Keep Rates Unchanged for the Next Two Years
Bank of America CEO Brian Moynihan said on Tuesday that the bank expects the Federal Reserve to keep interest rates unchanged for the next two years. He pointed out at a conference in Washington that "it will take years to squeeze out inflation, and the Fed's efforts to control inflation are likely to continue until 2026." The Personal Consumption Expenditures (PCE) report on Friday is expected to show progress in the Fed's fight against inflation.
LIBRA and MELANIA Teams Suspected of Money Laundering Through Wash Trading
According to Lookonchain monitoring, the LIBRA and MELANIA internal teams are laundering money through "wash trading", spending 19,846 SOL (about $2.76 million) to buy a meme coin (POPE) worth less than $150,000, and eventually selling it for 175 SOL (about $24,000), losing $2.73 million, which has effectively transferred the $2.73 million to other wallets in a "legal" manner.
Industry News
SEC, Tron Foundation and Justin Sun File Joint Motion to Suspend Litigation
The SEC, Tron Foundation and Justin Sun filed a joint motion on Wednesday requesting a federal judge to suspend the litigation against Justin Sun and his company Tron. This motion is similar to the SEC's suspension requests in the Coinbase and Binance cases, with the three parties stating that they are working to seek potential resolutions. The SEC sued Tron, Justin Sun and BitTorrent in July 2023, alleging market manipulation, fraud and the issuance of unregistered securities. The SEC claimed that Justin Sun manipulated the trading volume of the TRX token through wash trading, with Tron employees conducting over 600,000 wash trades.
SEC Ends Investigation of Gemini, Decides Not to Take Enforcement Action
Gemini co-founder Cameron Winklevoss announced that the SEC has closed its investigation into Gemini and decided not to take enforcement action. This decision was made 699 days after the SEC launched its investigation. While this marks an important victory for the crypto industry, Gemini stated that the SEC's actions have resulted in tens of millions of dollars in legal fees and billions of dollars in productivity and innovation losses.
Circle and Tether Diverge on US Stablecoin Regulation
Circle and Tether have divergent views on US stablecoin regulation, with Circle CEO Jeremy Allaire believing "there should be no free pass" and that dollar-pegged stablecoins should be registered and operated in the US, while Tether CEO Paolo Ardoino claimed that USDT is the most successful tool for US dollar hegemony and distribution in emerging markets, and that its "competitors" true intention is to "kill Tether".
Oklahoma's "Strategic Bitcoin Reserve Act" (HB 1203) Passes House Committee, Enters Full House Vote
Oklahoma's "Strategic Bitcoin Reserve Act" (HB 1203) has passed the House committee and entered the full House vote stage. The bill allows up to 10% of public funds to be invested in BTC or digital assets with a market cap over $500 billion.
Project News
Pump.fun Official X Account Hacked, Users Need to Be Aware of Risks
The official X account of pump.fun was hacked and a fraudulent token "PUMP" was issued, users need to be aware of the risks.
Ethereum Foundation: Will Donate $1.25 Million for Legal Defense of Tornado Cash Developers
The Ethereum Foundation officially stated that the foundation will donate $1.25 million for the legal defense of Tornado Cash developer Alexey Pertsev, and stated that "privacy is normal, and writing code is not a crime".
BTS to Tokenize Hit Song Copyright Through Aria RWA Protocol in Story Ecosystem
Aria, the IP RWA protocol in the Story ecosystem, announced that it will acquire a portion of the copyright of the BTS and Steve Aoki collaboration single "The Truth Untold" and tokenize it. This initiative will bring one of the most influential musical works in the world into the on-chain RWA IP ownership domain.
Ethena to Expand to MoveVM Ecosystem, ENA Stakers to Receive 5% Echelon Airdrop
Ethena officially announced its expansion to the MoveVM ecosystem, and will first collaborate with Aptos and the Movement ecosystem project Echelon. Starting today, sENA holders (ENA stakers) will automatically accumulate Echelon reward points and will share a 5% Echelon token airdrop in the future.
Here is the English translation of the text, with the terms in <> retained as is:Jupiter founder Meow released a long article outlining the future development plan and long-term strategy of the JUP token. Meow proposed the "GOAT framework" (governance, transparency, organic, synergy) as the core, and announced three key initiatives: first, to commission an independent audit firm to conduct a comprehensive audit of the founders, treasury, and tokens, and all results will be publicly disclosed on the new official website jup.com to enhance transparency. Secondly, the establishment of the "Litterbox Trust Fund", with a commitment to inject 50% of the agreement income into the fund over the next two years for strategic accumulation of JUP. Finally, Meow proposed the 2030 incentive plan, voluntarily using his personal 280 million JUP for new team incentives, and promised not to receive any tokens before 2030, with the final 500 million JUP reward completely dependent on the community's vote on his performance.
Meteora stated in a post on X that the events of the past few weeks have been a severe test of the platform's resilience, and looking ahead, Meteora will continue to empower users, developers, and LPs. Meteora emphasized that LPs are the core of the protocol, and in order to enhance the synergy between Meteora and LPs, it will increase additional communication/feedback channels, support more community-led initiatives, and ensure that the community has a voice in shaping Meteora's future. Building on the existing LP incentive proposals, Meteora will continue to improve the existing points system to fairly reward all LPs.
Investment and Financing
Crypto wallet Phantom acquires token data platform SimpleHash
Crypto wallet Phantom announced the acquisition of token data platform SimpleHash, with the specific acquisition amount not disclosed. This is Phantom's third acquisition transaction in the past few months, following Blowfish and Bitski. Phantom declined to comment on the exact number of SimpleHash employees and the number of employees transitioning to Phantom.
ZKP technology startup Ligero completes $4 million seed round, led by Galaxy Ventures and 1kx
ZKP technology startup Ligero has completed a $4 million seed round, co-led by Galaxy Ventures and 1kx, with participation from Franklin Templeton, Nascent, Anagram, Robot Ventures, Digital Currency Group, and ZKV. The company reportedly began this round of financing in March 2024 and completed it in July 2024, with a valuation cap of $20 million, and currently has no plans to launch a token.
Crypto gift card platform Raise completes $63 million financing, led by Haun Ventures
Crypto gift card platform Raise announced the completion of a $63 million financing round, led by Haun Ventures, with participation from Paper Ventures, Selini Capital, GSR, and Raj Gokal, the co-founder of blockchain Solana. The company declined to disclose the valuation of this financing.
Personalities & Voices
Standard Chartered: Don't rush to buy the dips, Bitcoin may test $80,000 low
The price of Bitcoin briefly fell to around $86,000 on Tuesday, hitting its lowest level since November last year, down more than 20% from the January all-time high. As market risk aversion sentiment intensifies, the expected crypto surge due to Trump's inauguration has not materialized. Morgan Stanley data shows that crypto ETF outflows reached $544 million last week, indicating that market sentiment is turning pessimistic. Standard Chartered's digital asset research head Geoff Kendrick warned, "Don't rush to buy the dips. Bitcoin may test the $80,000 low. $90,000 is a key support for Bitcoin, and a break below this level could lead to further declines in the world's largest cryptocurrency. Although Bitcoin has remained above $90,000 on the back of optimism about crypto support under the Trump administration, its appeal has been diminished by the unfulfilled presidential promises and rising macroeconomic uncertainty."
According to the on-site report by Odaily reporters, at the ongoing ETH DENVER summit, Donald Trump Jr., co-founder of World Liberty Finance and a member of the Trump family, delivered weighty views on crypto regulation and the future of decentralized finance (DeFi). He pointed out that the biggest challenge facing the US crypto industry is regulatory ambiguity, stressing the need to establish a clear regulatory framework to lead financial innovation, and called for using technology to achieve financial democratization. Donald Trump Jr. criticized the current US crypto regulatory policy as "almost predatory", believing that excessive intervention and opaque enforcement have led to a large number of companies leaving the country. He called on the US government to form a regulatory team that truly understands the crypto industry, and to formulate "reasonable and predictable" rules, rather than being led by decision-makers "who don't understand technology". In addition, Donald Trump Jr. also elaborated on the mission of World Liberty Finance, which is to bring traditional assets such as government bonds and real estate onto the blockchain through technology, creating a highly liquid and low-threshold financial service. The project has partnered with well-known protocols such as Chiliz, Tron, and Ondo Finance, aiming to bridge the gap between traditional finance and DeFi.
Binance co-founder CZ posted on the X platform stating that he usually does not criticize other industry participants, but the incident report released by Safe uses vague language to cover up the problems. After reading it, there are more questions than answers, including: What does "intrusion into the Safe {Wallet} developer machine" mean? How did they crack this specific machine? Was it social engineering, viruses, etc.? How did the developer machine access "accounts operated by Bybit"? Were some codes directly deployed from this developer machine to the production environment? How did they deceive the Ledger verification step among multiple signatories? Was it blind signing or did the signatories fail to properly verify? Is the $1.4 billion the largest address managed by Safe? Why didn't they target others? What can other "self-custody, multi-signature" wallet providers and users learn from this?
CryptoQuant analyst: It cannot be concluded that BTC price has bottomed out yet
CryptoQuant research head Julio Moreno posted on social media that it cannot be said that Bitcoin's price has bottomed out yet, as all valuation indicators have entered an adjustment range, and this process may take more time. For example, MVRV has fallen below its 365-day moving average (each time it breaks through, it takes time to adjust).
Here is the English translation:According to a report released by Adam, a macroeconomic researcher at Greeks.live, the group members generally hold a bearish attitude, as Bitcoin has plummeted from over $100,000 to a low of $80,000, which traders have described as a "crisis spreading". Key observation levels include the critical support of $86,000, and if it breaks below this level, many believe there will be a "vacuum area" down to the $72,000-$77,000 range, with some members even expecting it to further drop to $65,000. The market experienced a single-day drop of $6,000, accompanied by a large number of forced liquidations, causing the majority of traders in the group to suffer significant losses, with some reporting losses in the five to six-digit range. Several traders believe this round of sell-off is controlled, possibly from a "invisible" large seller who needs to complete the sell-off before any meaningful rebound can occur. Despite the gloomy market, some members are cautiously looking for a potential range formation between $85,000 and $90,000, viewing $89,000-$91,000 as a level that, if reclaimed, could provide some breathing space.
