The White House Crypto Summit will begin at 2:30 am Beijing time on March 8
PANews, March 5 - According to a report by Fox Business News reporter Eleanor Terrett, the inaugural White House Crypto Summit will be held from 1:30 pm to 5:30 pm on March 7 (2:30 am to 6:30 am Beijing time on Saturday, March 8). The invitation email did not disclose any other details besides the time and location. Earlier today, executives from Coinbase, Robinhood and other companies confirmed that they will attend the White House Crypto Summit this Friday.
The US SEC agrees to withdraw the lawsuit against Cumberland DRW
PANews, March 5 - Crypto trading firm Cumberland DRW posted on the X platform that "Today, we have signed a joint filing with the U.S. Securities and Exchange Commission (SEC) to dismiss the lawsuit against Cumberland DRW. The filing was agreed in principle between Cumberland DRW and SEC staff on February 20 and is now pending Commission approval. As a firm that steadfastly upholds principles of integrity and transparency, we look forward to continuing our dialogue with the SEC to jointly shape a future where technological progress and regulatory clarity go hand in hand, ensuring the U.S. remains at the forefront of global financial innovation."
PANews, March 5 - According to CoinDesk, on Tuesday, the U.S. Senate, with strong support from many Democrats, successfully passed a resolution aimed at repealing the Biden administration's crypto tax rules, which could be the biggest obstacle to eliminating the IRS's new broker rules (which were originally planned to cover decentralized finance DeFi). The Senate passed the resolution, authorized under the Congressional Review Act, by a vote of 70 to 27 to completely repeal the IRS broker rules expansion. However, the House still needs to pass an identical resolution, after which U.S. President Trump can sign it into law. Once completed, not only will the rule be completely repealed, but the IRS will also be prohibited from implementing similar policies in the future. The House Financial Services Committee has already passed an identical resolution and recommended its approval in a full House vote, which is currently pending.
El Salvador's President: The action of buying Bitcoin will not stop due to the IMF agreement
PANews, March 5 - According to CoinDesk, El Salvador, under the leadership of President Nayib Bukele, seems to have no intention of stopping the accumulation of Bitcoin, regardless of what demands the International Monetary Fund (IMF) may make. Bukele posted on the X platform that El Salvador will not stop accumulating Bitcoin: "When the whole world turns against us, when most 'Bitcoin believers' abandon us, it hasn't stopped, it won't stop now, and it won't stop in the future. Proof of Work is greater than Proof of Complaint." Shortly after Bukele's social media post, the IMF released more details on its $3.5 billion loan agreement with the Latin American country. The IMF claimed that as part of the loan program, "the voluntary accumulation of Bitcoin by the public sector" has been prohibited. Perhaps in response to the IMF's post, El Salvador disclosed late Monday night that it had purchased 19 more Bitcoins in the past seven days, and then disclosed on Tuesday afternoon that it had purchased an additional one token on top of that. The Salvadoran government currently holds 6,101.15 Bitcoins, worth about $530 million at Bitcoin's current price of around $88,000.
PANews, March 5 - According to The Block, the U.S. government has disclosed in a notice the addition of dozens of Bitcoin (BTC) and Monero (XMR) addresses to its sanctions list. On Tuesday, the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) confirmed 49 virtual currency addresses used by Iranian national Behrouz Parsarad, who was allegedly the administrator of the dark web marketplace Nemesis. A total of 44 Bitcoin addresses and 5 Monero addresses were added to the sanctions list. Parsarad is set to become the target of an international law enforcement operation in 2024. It is reported that Nemesis had 30,000 active users before it was shut down, and facilitated nearly $30 million worth of drug transactions during its three years of operation. OFAC stated in a statement that "Parsarad profited by charging a fee on each transaction on Nemesis, and OFAC estimates he earned millions of dollars during the market's existence." In addition to providing a trading platform for criminals, Parsarad also laundered money for drug traffickers and cybercriminals active on Nemesis. Nemesis offered a range of drugs, personal identification data, forged documents, ransomware, and cybercrime services such as phishing and DDoS tools.
David Sacks: Sold Multicoin's holdings and liquidated all crypto assets
PANews, March 4 - David Sacks posted on the X platform that he has sold Multicoin Capital's holdings and liquidated all of his cryptocurrency and crypto investment funds. He emphasized that there was no need to do this at the time of the sale, as the relevant due diligence process was still ongoing, but he chose to withdraw voluntarily and advised the public not to make "unfounded and hysterical accusations" before all the facts are known.
Less dilution, lower selling pressure for stakers. According to a Coin Metrics report, as of February, Solana's inflation rate was 4%, down from the initial 8%, but still far above the 1.5% target, and is currently declining at a rate of 15% per year.
OpenAI launches the NextGenAI alliance, promising $50 million to support AI research and education
PANews, March 4 - According to an announcement from OpenAI, the company has launched NextGenAI, an innovation alliance comprising 15 leading research institutions, aimed at leveraging artificial intelligence to accelerate scientific breakthroughs and drive educational transformation. OpenAI has pledged $50 million in research funding, computing resources, and API access to support scholars, students, and researchers exploring the frontiers of AI. The alliance members include MIT, Harvard University, Oxford University, Caltech, Texas A&M University, and Boston Children's Hospital, among others. Each member plans to use AI to advance developments in areas such as healthcare, digital libraries, educational reform, and research automation. For example, Oxford University will use AI to digitize rare documents, while Harvard University and Boston Children's Hospital will use AI to optimize rare disease diagnosis workflows.
Here is the English translation of the text, with the content inside <> retained without translation:PANews, March 5 - Asset management firm VanEck said that the protocol upgrades planned for Solana are crucial for the long-term health of the network, but may impact the revenue of validators. In March, Solana validators will vote on two blockchain protocol upgrade proposals (SIMD) aimed at ensuring rewards for stakers and adjusting the inflation rate of the native token SOL. VanEck's head of digital asset research, Matthew Sigel, said in a March 4 post that these two proposals have sparked "significant controversy" as they could reduce validator revenue by up to 95%, potentially jeopardizing small operators. Sigel said: "While these changes may reduce staking rewards, we believe lowering inflation is a worthwhile goal that can enhance Solana's long-term sustainability."
Reddit co-founder joins bid to acquire TikTok, plans to "put it on the blockchain"
PANews, March 5 - According to The Block, Reddit co-founder Alexis Ohanian is seeking to acquire TikTok and "put it on the blockchain". The app plans to integrate Frequency, a "decentralized social media protocol" aimed at giving users control over their network content.
Blockstream secures multi-billion dollar investment to launch three crypto funds
PANews, March 5 - According to Bloomberg, sources reveal that Bitcoin development company Blockstream Corp. has secured a multi-billion dollar investment to launch three funds, two of which will support crypto lending.
Coinbase International to list CAKE, BRETT, AI16Z perpetual contracts
PANews, March 5 - Coinbase International announced it will list perpetual contracts (PERP) for PancakeSwap (CAKE), Brett (BRETT) and ai16z (AI16Z) on March 6, 2025 at 9:30 UTC or later, supporting the Coinbase International Exchange and Coinbase Advanced platforms.
PANews, March 4 - According to Jupiter founder Meow's team strategy, Jupiter will focus on decentralized liquidity platforms, global community expansion and the Jupnet ecosystem in the next 5 years, and plans to allocate 280 million JUP to new team members in the next 3 years, subject to community decision.
Aave updates token economic model, plans to buy back $1 million AAVE per week initially
PANews, March 4 - According to an Aave governance proposal, the Aave community has proposed the latest token economics update [Aavenomics Implementation Plan: Part 1], aiming to optimize the AAVE token economy, including launching AAVE buybacks, reallocating protocol surplus revenue, terminating LEND token migration, and upgrading secondary liquidity management.
Binance Earn, One-Click Buy, Swap, and Leverage to list GoPlus Security (GPS)
PANews, March 4 - According to a Binance announcement, GoPlus Security (GPS) will be listed on several Binance trading and finance platforms starting from 21:00 (UTC+8) on March 4, 2025.
Tether's asset tokenization platform Hadron now supports Bitcoin sidechain Liquid
PANews, March 4 - According to Tether CEO Paolo Ardoino, Tether's Hadron platform now supports digital asset tokenization on the Bitcoin sidechain Liquid.
Cross-chain protocol Across raises $41 million, led by Paradigm
PANews, March 4 - According to The Block, cross-chain interoperability protocol Across has raised $41 million in token financing, led by Paradigm, with participation from Bain Capital Crypto, Coinbase Ventures, Multicoin Capital and angel investor Sina Habinian.
Metaplanet completes around $87 million financing to increase Bitcoin holdings
PANews reported on March 4 that according to an announcement from Metaplanet, the company has completed a large-scale exercise of the 13th and 14th series of stock subscription rights through third-party private placement, raising a total of about 12.97 billion yen (about $87 million). This financing was supported by EVO FUND, and part of the funds have been used to redeem the previously issued 7th ordinary bonds in advance. Metaplanet plans to use the funds to continue increasing its Bitcoin holdings to strengthen its digital asset investment strategy.
Flowdesk Completes $102 Million Financing to Expand Trading and Liquidity Business
PANews reported on March 4 that according to The Block, the French cryptocurrency trading company Flowdesk has completed a $102 million financing round, of which 90% was equity financing and 10% was debt financing. This round was led by HV Capital, with existing investors Eurazeo, Cathay Innovation, and ISAI VC participating, and the debt financing portion was provided by a fund managed by BlackRock. Flowdesk plans to use the funds to expand its over-the-counter derivatives trading business, launch a cryptocurrency lending department, and set up a new office in the United Arab Emirates. The company also plans to double its workforce within the next 12 months and strengthen regulatory compliance to actively respond to the implementation of the EU's MiCA regulation.
PANews reported on March 4 that according to The Block, the Berachain liquid staking protocol Infrared has completed a $14 million Series A financing round, led by Framework Ventures, with participation from Citizen X, Halo Capital, No Limit Holdings, NGC Ventures, and Selini Capital. This round of financing was conducted using the SAFT (Simple Agreement for Future Tokens) model. After the $2.25 million strategic round led by Binance Labs and the $2.5 million seed round, Infrared's total financing has reached $18.75 million. Infrared was incubated by the Berachain Foundation and has launched two liquid staking tokens, iBGT and iBERA, corresponding to Berachain's governance token BGT and gas token BERA, respectively. Currently, the protocol's TVL exceeds $1.7 billion, making it the largest protocol in the Berachain ecosystem. Berachain's mainnet was officially launched in February, but due to issues with investor and internal holding ratios, the BERA token has fallen 57% since its launch on February 6.
PANews reported on March 5 that according to The Block, the trading volume of the "graduated" Pump.fun token has declined significantly since the beginning of the year, reflecting both the broader market cooling and the evolution of trader sentiment. Daily trading volume has plummeted from a peak of $3 billion in January to about $170 million at the time of writing, a drop of 94%, which is consistent with the slowdown in the platform's token graduation rate, which has declined from 1.85% per week to 0.83%, indicating a decrease in the number of new tokens reaching the $100,000 market cap threshold to qualify for an upgrade to Raydium. The contraction in trading volume points to a potential fatigue among traders in the Solana meme coin ecosystem. After months of frenetic activity, many participants seem to have grown weary of the dark side of this space, including scams, dubious influencer promotions, and insider trading groups, leading to a general loss of trust in meme coins. Despite the current market downturn, Pump.fun has still made a significant impact since its launch on January 19, 2024, generating $570 million in revenue in just over seven months.
Bitcoin ETFs See Net Outflows of 1,238 BTC, Ethereum ETFs See Net Outflows of 12,221 ETH
PANews reported on March 4 that according to Lookonchain data, both Bitcoin and Ethereum ETFs experienced significant net outflows today: • 10 Bitcoin ETFs saw net outflows of 1,238 BTC (about $102.85 million) • The iShares (Blackrock) Bitcoin Trust (IBIT) saw outflows of 909 BTC, with its current holdings at 572,227 BTC (about $47.55 billion) • The Grayscale Bitcoin Trust (GBTC) saw outflows of 420 BTC, with its total holdings decreasing to 196,387 BTC • 9 Ethereum ETFs saw net outflows of 12,221 ETH (about $25.35 million) • The iShares (Blackrock) Ethereum Trust (ETHA) saw outflows of 7,570 ETH, with its current holdings at 1,284,919 ETH (about $26.6 billion) • The Grayscale Ethereum Trust (ETHE) saw outflows of 5,521 ETH, with its total holdings decreasing to 1,263,919 ETH
PANews reported on March 4 that according to Onchain Lens monitoring, a whale spent 1,000 ETH (about $209,000) to purchase 298.27 billion PEPE in the past hour. Currently, this whale holds a total of 1.062 trillion PEPE (about $720,000) across two wallets, with the majority of the holdings traceable to 1.8 years ago.
A Whale Unstaked 79,530 SOL 2 Hours Ago, Generating Over $27 Million in Profits
PANews reported on March 4 that according to Lookonchain monitoring, a whale unstaked 79,530 SOL (about $10.86 million) two hours ago. This whale had extracted 200,000 SOL (about $8.6 million) from Binance and staked them on November 8, 2023, when the SOL price was $43. On November 6, 2024, the whale unstaked and deposited 120,000 SOL (about $22.2 million) back into Binance. The whale still holds 98,727 SOL (about $13.53 million) and has generated over $27 million in profits.
The Mysterious Entity "7 Siblings" Spent $36.68 Million to Purchase 17,855.3 ETH
PANews reported on March 5 that according to OnchainLens monitoring, the mysterious entity marked as "7 Siblings" purchased 17,855.3 ETH for $36.68 million in DAI, USDC, and USDT, at an average price of $2,054 per ETH. They likely hold over 1,169,015 ETH, worth approximately $25.3 billion, across two different wallets.
PANews reported on March 4 that on-chain data shows that the Grayscale Bitcoin Trust (GBTC) addresses transferred 674.35 BTC, worth about $56.037 million, to three addresses including Coinbase Prime Deposit on March 4, 2025, at 22:21:43 (UTC+8).
