In the coming week from February 24, 2025 to March 2, 2025, there are other blockchain news that are worth your attention.
News preview:
- Ethereum plans to activate Pectra upgrade on Holesky testnet on February 24
- $FX will be renamed to $PUNDIAI on February 25th, and a 100:1 supply cut will be implemented;
- VitaDAO: Plans to launch new token on Pump Science on February 25
- The U.S. Senate Banking and Digital Assets Subcommittee will hold its first hearing on February 26 local time to discuss the theme of "Exploring a Bipartisan Legislative Framework for Digital Assets";
- Optimism (OP) will unlock approximately 31.34 million tokens at 8:00 am Beijing time on February 28, accounting for 1.93% of the current circulation, with a value of approximately US$36.7 million.
- Arkham Exchange will provide spot trading to users in 17 U.S. states starting March 1;
- Sui (SUI) will unlock approximately 22.97 million tokens at 8:00 a.m. Beijing time on March 1, accounting for 0.74% of the current circulation, with a value of approximately US$77.6 million;
- Kanye said that all the current coins on the market are fake and he will launch his own coin next week
February 24
Exchange:
Binance will delist AMB, CLV, STMX and VITE on February 24
Binance announced that it will delist and stop trading the following spot trading pairs: AMB/USDT, CLV/BTC, CLV/USDT, STMX/TRY, STMX/USDT and VITE/USDT from 11:00 on February 24, 2025 (Beijing time). All unfinished orders will be automatically cancelled after the trading is stopped. From 11:00 on February 25, 2025 (Beijing time), the recharge of the relevant tokens will no longer be credited to the user's account, and the withdrawal service will continue until 11:00 on April 24, 2025 (Beijing time).
Bithumb announced that it will carry out internal system upgrades from 1:00 to 7:00 (6 hours in total) on Monday, February 24, 2025. All Bithumb services (Bithumb APP/mobile webpage/PC/API) will be suspended at that time. The service maintenance time may end early or be delayed. To protect customers holding pending orders, pending orders may be cancelled, so please cancel buy/sell pending orders before the service inspection as much as possible.
CME plans to launch cash-settled options on Bitcoin Friday futures on February 24
The Chicago Mercantile Exchange Group (CME) announced plans to launch cash-settled options linked to its Bitcoin Friday futures on February 24, subject to regulatory approval. Giovanni Vicioso, head of global cryptocurrency products at CME, said the smaller size of these new options contracts and the daily expiration design provide market participants with a more capital-efficient tool to adjust their Bitcoin exposure. Since its launch in September last year, the Bitcoin Friday futures have been 1/50 of a Bitcoin in size, smaller than the "nano" Bitcoin futures launched by Coinbase (1/100 of a Bitcoin). So far, the product has traded more than 775,000 contracts, with an average daily trading volume of about 9,700.
Project News:
Christine Kim, vice president of research at Galaxy, summarized the 203rd Ethereum Core Developer Executive (ACDE) conference call, where developers confirmed the timeline for Ethereum public testnet upgrades, with plans to activate the Pectra upgrade on the Holesky and Sepolia testnets on February 24 and March 5, respectively. If the public testnet upgrade goes smoothly, Pectra is expected to go live on the Ethereum mainnet around April 8. In addition, developers discussed Beiko's proposal to lock the scope of the Fusaka upgrade, planning to freeze the scope of Fusaka before the Pectra upgrade goes live. Beiko also suggested extending the time for developers to submit EIP proposals to ensure that opinions from all parties are fully discussed and integrated.
February 25
Project News:
CoinList to Launch Obol Token Sale on February 25
CoinList announced that it will start the Obol token sale at 1:00 am (Beijing time) on February 25, with a 30% discount compared to the previous round of VC investment. Obol is the foundation of the L1 blockchain and decentralized infrastructure network. The details of the sale are as follows: For ordinary users: FDV is 125 million US dollars; the token price is 0.25 US dollars; 33% will be unlocked 6 months after TGE, and then linearly unlocked in 12 months. For wstETH or weETH holders: FDV is 115 million US dollars; the token price is 0.23 US dollars; 33% will be unlocked 6 months after TGE, and then linearly unlocked in 12 months; at the same time, users need to hold at least $20 worth of wstETH or weETH on CoinList between 1:00 am on March 4 and 1:00 am on March 11 to enjoy the lower price and FDV.
Both options have a minimum purchase limit of $100 and a maximum purchase limit of $250,000. After the subscription period ends, users who are not selected for an allocation will receive the funds in their CoinList wallet by 1:00 am on March 13. This public sale is not available in the United States, China, Canada, and certain other jurisdictions.
$FX will be renamed to $PUNDIAI on February 25th and implement a 100:1 supply cut
$FX was officially renamed to $PUNDIAI at 10:00 AM (GMT+8) on February 25, 2025. This upgrade will be performed automatically or manually depending on the blockchain where the token is located. $FX on Pundi AIFX Omnilayer (formerly f(x)Core) will be automatically upgraded, including staked and non-staked tokens. $FX on the Base chain and Ethereum network will need to be upgraded manually. The upgrade page will be provided later. Users can bridge $FX back to Pundi AIFX Omnilayer for automatic upgrade. Centralized exchanges participating in this upgrade will provide automatic upgrades. Please pay attention to the exchanges for specific times.
BNB Smart Chain (BSC) will conduct a Pascal hard fork. The fork is scheduled to take place on the testnet on February 25, 2025, and the mainnet is scheduled to take place in mid-March 2025. The Pascal hard fork enhances the compatibility of BSC with Ethereum by integrating key features of the Ethereum Pectra upgrade.
VitaDAO: Plans to launch new token on Pump Science on February 25
VitaDAO, an autonomous organization for longevity research, announced on the X platform that it plans to launch new compound experimental tokens on the Pump Science platform on February 25, and pre-order and market release of supplements on March 25.
Token unlocking:
AltLayer (ALT) will unlock approximately 240 million tokens at 6:00 pm Beijing time on February 25, accounting for 9.41% of the current circulation and worth approximately US$11.6 million.
February 26
Policy supervision:
The U.S. Senate Banking and Digital Assets Subcommittee announced that it will hold its first hearing next Wednesday (February 26th) local time to discuss the topic of "Exploring a Bipartisan Legislative Framework for Digital Assets."
February 27
Exchange:
Upbit: NFT services will be suspended for 2 hours on February 27
South Korean cryptocurrency exchange Upbit announced that due to planned database maintenance tasks, NFT services will be suspended for 2 hours from 06:00 to 08:00 on February 27. During this period, the deposit and withdrawal of Ethereum and Polygon-based NFTs in Upbit's NFT service will not be possible. Depending on market conditions, this inspection may be postponed or cancelled.
Kraken will completely shut down its NFT market on February 27 and shift its focus to other projects
Crypto exchange Kraken will shut down its NFT marketplace to free up resources for upcoming projects, the company said in a statement. After November 27, 2024, users will no longer be able to list, bid, or sell items on Kraken's NFT marketplace; they will only be able to withdraw assets. The marketplace will be completely shut down on February 27, 2025. A representative from Kraken said: "We have decided to close our NFT marketplace in order to shift more resources to new products and services, including unannounced initiatives in development. Customers have been informed of these changes and our team will support them in transferring their NFTs to their Kraken wallets or the self-custodial wallet of their choice."
ZK Nation: ZIP-6 proposes to redeploy all governance contracts, voting will end on February 27
ZK Nation announced on the X platform that since the voting quorum has been reached, the voting period for ZIP-6 is scheduled to end at 18:15 UTC on February 27. It is reported that the proposal will upgrade the governance contract and redeploy all governance contracts, including the contract related to the ZKSYNC protocol upgrade mechanism, namely the protocol UpgradeHandler, which is responsible for executing Ethereum protocol upgrades approved by Token Assembly.
February 28
Policy supervision:
The Central Bank of Brazil (BCB) has unveiled a regulatory proposal that would prohibit centralized exchanges from allowing users to withdraw stablecoins to self-insured wallets. According to the public consultation notice, the transfer of stablecoins (called "foreign currency-denominated tokens") between residents will be restricted in cases where Brazilian law already allows payments in foreign currency. The move is part of Brazil's crypto regulatory bill approved in December 2022, which established the BCB as responsible for setting rules for the country's crypto industry. The public consultation will last until February 28, 2025, and market participants can share their opinions with the regulator. However, the BCB can overturn the opinion and act as stated in the document.
Project dynamics:
Teleport, a decentralized taxi-hailing app on the Solana chain, announced on the X platform: "The platform is about to close. This is not the desired result, but I am very grateful to this community and all those who believe in the vision and are passionate. It is a pity that we have not found a way to make this business run normally. A more detailed analysis will be released in the future to explain the reasons for this decision, but we are currently focusing on an orderly closure. The Teleport application will support the transfer of any remaining USDC balances and the export of user private keys until February 28, 2025."
Metaplanet to be included in MSCI Japan Index on February 28
Simon Gerovich, CEO of Metaplanet, a Japanese listed company, said that Metaplanet will be officially included in the MSCI Japan Index after the end of trading on February 28, 2025. The MSCI Japan Index is compiled by Morgan Stanley Capital International (MSCI), covers large and medium-sized Japanese companies, and is an important reference indicator for global institutional investors.
Token unlocking:
Optimism (OP) will unlock approximately 31.34 million tokens at 8:00 am Beijing time on February 28, accounting for 1.93% of the current circulation, with a value of approximately US$36.7 million.
March 1
Exchange:
Arkham Exchange will offer spot trading to users in 17 U.S. states starting March 1
Arkham Intelligence announced that its exchange, Arkham Exchange, will begin offering spot cryptocurrency trading to users in 17 U.S. states starting March 1. Arkham announced the move last November, following the launch of its USDT-based perpetual contract exchange. Spot trading will be available to users in Colorado, Hawaii, Indiana, Iowa, Kansas, Michigan, New Hampshire, New Jersey, South Carolina, Tennessee, Utah, Virginia, Wyoming, Wisconsin, California, Massachusetts, and Montana.
11.2 million SOL from FTX bankruptcy auction will be unlocked on March 1, worth about $2.06 billion
According to @ai_9684xtpa, the 11.2 million SOL (worth about $2.06 billion) from the FTX bankruptcy auction will be unlocked on March 1, 2025. Previously, FTX sold a total of 41 million SOL through three auctions. The main buyers and their returns are as follows:
- Galaxy purchased 25.52 million coins at $64 per coin, a return of 187%;
- Pantera and other buyers purchased 13.67 million pieces at $95 per piece, a return of 93%;
- Figure and other buyers purchased 1.8 million coins at $102 each, a return of 80%.
Token unlocking:
Sui (SUI) will unlock approximately 22.97 million tokens at 8:00 am Beijing time on March 1, accounting for 0.74% of the current circulation, with a value of approximately US$77.6 million.
ZetaChain (ZETA) will unlock approximately 44.26 million tokens at 8:00 am Beijing time on March 1, accounting for 6.48% of the current circulation and worth approximately US$15 million.
DYDX (DYDX) will unlock approximately 8.33 million tokens at 8:00 am Beijing time on March 1, accounting for 1.14% of the current circulation and worth approximately US$6.7 million.
Sleepless AI (AI) will unlock approximately 18.21 million tokens at 8:00 am Beijing time on March 1, accounting for 14.01% of the current circulation and worth approximately US$5.1 million.
March 2
Exchange:
The Ouyi platform announced that it plans to officially delist the GFT/USDT and GFT/USDC trading pairs from 5:00-5:30 pm (UTC+8) on December 3, 2024. The GFT recharge service will be suspended at 4:00 pm (UTC+8) on December 2, 2024, and will no longer be available in the future. In addition, the GFT withdrawal service will be suspended at 4:00 pm (UTC+8) on March 2, 2025. Users are requested to complete asset processing before 4:00 pm (UTC+8) on March 4, 2025 to avoid losses.
Specific time to be determined
DeepSeek will open source 5 code libraries next week
DeepSeek announced today that it will release 5 code bases in the next week, unlock new content every day, and further share new progress. DeepSeek introduced that the modules of the current online services have been tested and deployed, and can be put into production. The company defines itself as a small company, and also said that every sharing will become a powerful potential energy to accelerate the journey of industry development. It also said that there is no high ivory tower in this field, only the pure garage entrepreneurial spirit and the innovation power built by the community.
Kanye: All the current coins on the market are fake, and I will launch my own coin next week
Kanye West, an American producer and rapper, tweeted that all Ye-related memes on the market are fake and that he will launch his own coin next week. He later tweeted, "YEEZY is committed to creating a real currency. No matter what field I enter, I will learn from the best and treat their life's work with the highest respect."
According to X user @afhasbara , Kanye sold the publishing rights of his X account to @barkmeta for $20 million before the cryptocurrency was released, and his agent John Monopoly received a 15% fee. The cryptocurrency tweets Kanye is seeing now are obviously not sent by him.
Microsoft is preparing for OpenAI's latest model, GPT-4.5 is expected to be released as early as next week, and Microsoft expects GPT-5 to be released in late May. The updated GPT-5 will make significant improvements to the way ChatGPT is used, unifying OpenAI's o-series and GPT-series models to reduce user confusion in choosing models.
