Headlines
▌SEC Announces Crypto Working Group Roster
The U.S. Securities and Exchange Commission (SEC) today announced the members of its Crypto Assets and Cyber Unit, which will advise the Commission on crypto-related matters.
The working group is composed of members from the Office of the Acting Chair and other divisions of the Commission. SEC Commissioner Hester Peirce stated: "The Crypto Assets and Cyber Unit brings deep expertise and strong commitment, and will work with the Commission's other talented staff and the public to tackle the complex challenges of crypto asset regulation."
▌BTC Breaks $87,000
The market shows that BTC has broken through $87,000, currently trading at $87,008.93, with a 24-hour decline narrowing to 7.77%. The market is highly volatile, please manage your risks accordingly.
Market
As of the time of writing, according to Coingecko data:
BTC's latest trading price is $86,346.90, with a daily change of -7.9%;
ETH's latest trading price is $2,158.47, with a daily change of -13.5%;
BNB's latest trading price is $575.01, with a daily change of -7.5%;
SOL's latest trading price is $142.53, with a daily change of -19.1%;
DOGE's latest trading price is $0.1994, with a daily change of -15.7%;
XPR's latest trading price is $2.40, with a daily change of -17.2%.
Policy
▌El Salvador's $1.4 Billion IMF Loan Agreement Includes Bitcoin Regulatory Conditions
El Salvador's $1.4 billion IMF loan agreement includes Bitcoin oversight conditions, with the new IMF loan terms revealing key measures El Salvador must take related to Bitcoin: Ending public participation in Chivo and stopping the use of public funds by July 2025.
Liquidating the Fidebitcoin trust and publishing audited financial data
Establishing a Bitcoin management framework for the government's BTC holdings
Disclosing all cold and hot wallet addresses and BTC holdings to the IMF
Regular IMF reviews to ensure compliance by 2025
▌SEC Concludes Investigation into Yuga Labs
Yuga Labs' X account posted that "the SEC has officially concluded its investigation into Yuga Labs, which lasted over three years. This is a major victory for the NFT industry and all creators driving ecosystem development, further confirming that NFTs are not securities."
Blockchain Applications
▌Zora Launches Native Token ZORA
Ethereum L2 network Zora has announced the launch of its native token ZORA, which will be listed this spring.
ZORA plans to launch on the Base network with a total supply of 10 billion tokens. The first snapshot was taken this morning (March 3, 2025) at 9 AM ET, and the second snapshot will be taken three days before the ZORA launch.
Zora has over 2.4 million collectors and 618,000 creators, generating over $27.7 million in rewards, with content on Zora driving over $376 million in secondary market transactions.
Cryptocurrencies
▌Singapore's Largest Money Laundering Case Convict Wang Shuming May Be Extradited to China, His Partner is the Mastermind of Hong Kong Crypto Platform Scam AAX
According to Netease Qingliu Studio, Wang Shuming, a Fujian Anxi native arrested in the largest money laundering case in Singapore, has been captured in Montenegro and will be extradited to China. Wang Shuming's partner Su Weiyi has been confirmed as the mastermind behind the Hong Kong cryptocurrency platform scam AAX, arrested by Hong Kong police in July 2024.
In November 2022, Atom Asset Exchange suddenly became unable to withdraw funds and subsequently collapsed, with Su Weiyi fleeing with 16.745 million Hong Kong dollars (about 15.675 million RMB). In July 2024, Su Weiyi was arrested by Hong Kong police. It is worth mentioning that Su Weiyi and other partners jointly owned other companies, and these partners were associated with Alice Guo (Guo Huaping), a convicted former Filipino-Chinese mayor.
▌Former Binance.US Executive Tammy Weinrib Joins Copper as Chief Compliance Officer for the Americas
Crypto custody company Copper has hired Tammy Weinrib as its new Chief Compliance Officer and Bank Secrecy Act (BSA) Officer, where she will lead the company's licensing business in the U.S. market and become a member of Copper's executive team based in New York. This decision is part of the company's strategic shift, focusing on markets such as the U.S., Europe, and the Middle East.
Weinrib previously served as Chief Compliance Officer and BSA Officer at Binance.US. Prior to that, she worked at the cryptocurrency exchange Gemini. Before entering the crypto industry, she worked in traditional finance, holding roles at Citibank (C), Royal Bank of Scotland (RBS), and Standard Chartered (STAN) on Wall Street.
▌Arkham: FTX/Alameda Wallets Received $430 Million in SOL
According to data disclosed on the X platform by Arkham, FTX/Alameda asset wallets received 3.033 million SOL, currently valued at approximately $430 million.
▌Renowned Streamer Amouranth Claims Armed Robbery, Robbers Demanded Crypto
On the night of March 2nd, renowned 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 initial X post, on March 3rd, she posted an update, stating that there were three armed intruders, and included what appears to be surveillance camera footage. After she led the 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, at a price of $2,161 per ETH. Amouranth is known for publicly sharing her financial status, having appeared on a personal finance YouTube show and sharing her earnings across platforms.
▌Cryptocurrencies Erase Weekend Gains, Struggle to Decouple from Traditional Finance
Crypto analysts point out that Bitcoin has now turned bearish, with its weekend gains completely erased. While Trump's comments on crypto reserves briefly halted the decline, underlying macroeconomic issues remain. Bitcoin has exhibited extreme volatility in the past few days. Fundamentally, Trump's statement may have only superficially addressed a much more serious problem. Last week, the Crypto Fear and Greed Index fell to its lowest level since 2022, and there are several reasons for Bitcoin's current bearishness: First, the macroeconomic environment does not constitute a bullish factor for cryptocurrencies, with the Atlanta Fed's GDPNow model now forecasting a 2.8% contraction in U.S. GDP by the end of Q1 2025, a disastrous outcome compared to the 3.9% growth predicted four weeks ago. Another key factor is Trump's tariff policy. While some analysts believe tariffs are not the main driver, when Trump recently announced a 25% tariff on the EU, the crypto market saw a sharp decline. In other words, macroeconomic factors largely influence the sentiment in the crypto industry. Since the spot Bitcoin ETF approval, cryptocurrencies have become deeply integrated with traditional finance. So if the U.S. economy falls into recession, the drawbacks of this integration will be fully exposed.
Important Economic Dynamics
▌Trump Packed the Market with Information in 30 Minutes: Tariffs, Russia-Ukraine, Massive Investment
On Monday local time, U.S. President Trump said at a news conference announcing that Taiwan Semiconductor Manufacturing Company (TSM.N) will invest $100 billion in the U.S. that the U.S. will impose a 25% tariff on Canada and Mexico starting on the 4th of this month, and said there is no room for negotiation with these two U.S. allies. The Canadian Foreign Minister responded that they are prepared to impose tariffs on $155 billion worth of U.S. goods. In addition, Trump also said that the U.S. will impose retaliatory tariffs starting on April 2, and will also impose tariffs on countries that devalue their currencies. This press conference, where reporters were eager to ask questions, lasted about 30 minutes. Trump had previously revealed that he would impose tariffs on agricultural products on April 2. Regarding the Russia-Ukraine conflict, Trump said that although he had a public dispute with Zelensky, the mineral trade with Ukraine has not been disrupted, and the suspension of military aid to Ukraine has not yet been discussed. Trump also hinted that Zelensky's presidency may be in jeopardy if he does not agree to sign a ceasefire agreement. He will update the progress of the mineral agreement on the 4th evening. In addition, there is news that the U.S. is drafting a plan that may grant sanctions relief to Russia.
▌91% Probability of Fed Keeping Rates Unchanged in March
According to the CME "Fed Watch": The probability of the Fed keeping rates unchanged in March is 91%, and the probability of a 25 basis point rate cut is 9%. The probability of keeping the current rate unchanged by May is 60.5%, the probability of a cumulative 25 basis point rate cut is 36.5%, and the probability of a cumulative 50 basis point rate cut is 3%.
▌The Three Major U.S. Stock Indexes Collectively Closed Lower
The three major U.S. stock indexes collectively closed lower, with the Dow Jones Industrial Average falling 1.48%, the Nasdaq falling 2.64%, and the S&P 500 falling 1.76%. Large tech stocks broadly declined, with Nvidia falling over 8%, Broadcom over 6%, Amazon over 3%, Tesla, Google, and Microsoft over 2%. The semiconductor, Bit, blockchain, and computer hardware sectors led the declines, with AMD down 13%, Dell Technologies over 7%, Bit Digital over 6%, Intel and Coinbase over 4%, Micron Technology over 3%, Qualcomm and Nvidia over 2%.
▌Trump: 25% Tariffs on Mexican and Canadian Goods to Take Effect on the 4th
U.S. President Trump said on March 3 local time that retaliatory tariffs will begin to be collected on April 2, and the 25% tariffs on Mexican and Canadian goods will take effect on March 4. President Trump said there is no room for consensus on tariffs on Mexico and Canada.
Jinse Encyclopedia
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Disclaimer: Jinse Finance, as a Bit platform, the articles published are for information reference only and do not constitute actual investment advice. Please everyone to establish the correct investment concept and improve risk awareness.
