Today's news tips:
Suspected Sun Yuchen’s address pledged 60,000 ETH to Lido yesterday, worth over $100 million
North Carolina Bitcoin Reserve Bill Would Authorize 10% of Public Funds to Purchase Bitcoin
Spot gold stands at $3,040/ounce, setting a new record high
Filecoin Ecosystem DeFi Protocol Glif Launches GLF Governance Token and Airdrops 94 Million Tokens
EOS transforms into a "web3 bank" and changes its name to Vaulta, plans to launch a new token
Regulatory/Macro
North Carolina Bitcoin Reserve Bill Would Authorize 10% of Public Funds to Purchase Bitcoin
According to Bitcoin Laws, North Carolina's Bitcoin Reserve Act SB327 authorizes the state treasurer to allocate up to 10% of public funds to Bitcoin. The details are as follows: the custody method is multi-signature cold storage; the reserve proof is audited monthly; the holding policy is that sales are only allowed under "serious financial crises" and strict conditions. North Carolina currently has $9.5 billion in its general fund.
Binance founder Changpeng Zhao (CZ) has changed the profile picture of his X (formerly Twitter) account to a photo of him wearing traditional Arabic clothing.
Spot gold stands at $3,040/ounce, setting a new record high
According to Jinshi.com, spot gold has reached $3,040/ounce, setting a new record high, breaking through four barriers in two days. The year-to-date increase is close to 16%.
North Dakota Senate passes crypto ATM bill with daily transaction limit of $2,000
According to Cointelegraph, the North Dakota Senate passed HB 1447 with an overwhelming vote of 45:1, which imposes strict supervision on crypto ATMs, including: a daily cash withdrawal limit of $2,000 for users, requiring operators to obtain a state currency transmission license, using blockchain analysis tools to monitor and report suspicious activities, providing quarterly reports (including terminal location, name and transaction data), and mandatory posting of fraud warning signs. The bill will be returned to the House of Representatives for review and revision. If passed, it will be submitted to Governor Kelly Armstrong for signature and implementation. The passage of HB 1447 marks the tightening of crypto ATM supervision in the United States. With the surge in fraud cases, more states may follow suit, pushing the industry from wild growth to compliant operations.
Viewpoint
Cathie Wood: Most Meme Coins Will Eventually Become "Worthless", Buyers Need to Be Cautious
In a recent interview with Bloomberg TV, Cathie Wood, founder of ARK Investment, warned that most Memecoins in the $2.6 trillion crypto market may eventually be "worthless." She pointed out that although the combination of blockchain and AI has spawned "millions" of Memecoins, these tokens have limited actual value, and ARK's private funds will not invest in such assets. In contrast, Wood is positive about mainstream crypto assets. She is optimistic about the development prospects of assets such as Bitcoin, Ethereum and Solana, and predicts that Bitcoin may exceed $1.5 million by 2030.
According to Cryptoslate, according to a new survey conducted by Coinbase and EY-Parthenon, institutional investors are increasingly bullish on cryptocurrencies, with 83% of institutions planning to expand their allocations this year. The study, which surveyed 352 institutional decision makers in January, found that investors' confidence in digital assets continues to grow as regulatory clarity improves and a wider range of application scenarios emerge. The majority (59%) of respondents plan to allocate more than 5% of their assets under management (AUM) to cryptocurrencies in 2025, indicating that cryptocurrencies are transforming from a niche investment to a key component of an investment portfolio.
Additionally, stablecoins continue to gain traction with institutions, with 84% of investors surveyed currently using or considering using them for a variety of purposes beyond trading. Yield generation (73%), foreign exchange (69%), and internal cash management (68%) were cited as the main drivers of adoption. While still in the early stages of institutional participation, DeFi is expected to see significant growth. Currently, only 24% of investors participate in DeFi, but this number is expected to triple to 75% by 2027.
Analysis: The Fed may end quantitative tightening, and the Bitcoin market hopes for a policy shift
According to market analysis, the Federal Reserve may hint at the end of the quantitative tightening (QT) program in the upcoming interest rate decision, which may provide support for Bitcoin and other risky assets. At present, the market generally expects the Federal Reserve to keep interest rates unchanged in the range of 4.25%-4.50%, focusing on the future direction of the QT program. Since the launch of QT in June 2022, the Federal Reserve has gradually reduced the size of its balance sheet, and the end of QT may mark the beginning of a new monetary policy and inject liquidity into the market. Previously, Federal Reserve Chairman Jerome Powell hinted that QT may end in 2025. Analysis points out that the end of QT may ease liquidity pressure in the U.S. Treasury market, and may also be beneficial to risky assets such as Bitcoin. However, stagflation risks in economic forecasts may limit asset gains. Bank of America predicts that the Federal Reserve may suspend QT due to debt ceiling issues, and may postpone plans for further interest rate cuts against the backdrop of lower economic growth expectations and higher inflation. In addition, data from the prediction platform Polymarket shows that the probability of QT ending before May is as high as 100%.
Haseeb Qureshi, managing partner of Dragonfly, shared his life journey from a professional poker player to a top crypto investor. He took the probabilistic thinking, risk assessment, and emotional resilience he learned from his poker career and applied these abilities to the field of venture capital. He said that blockchain has the potential to completely reshape the global payment system and began investing in Bitcoin and Ethereum in 2016. Haseeb is optimistic about the future of the crypto industry, especially in the context of the advancement of stablecoin legislation and the development of blockchain infrastructure. He pointed out that although traditional giants are gradually entering the market, start-ups will still dominate in innovation and profitability. In the field of investment, Haseeb emphasized the importance of deep insight and clear logic. He said that what he values most in entrepreneurs is a clear understanding of the market and specific execution, rather than just relying on telling big stories or catering to market trends. He believes that investors need to show a deep understanding of the industry, specifically to grasp each project, trend and market dynamics, rather than staying on the surface.
Matrixport's analysis today pointed out that the Bitcoin futures market has cooled down, while Bitcoin ETF inflows have remained stable. As of mid-December 2024, Bitcoin ETF inflows and futures open interest both reached about $35 billion. Subsequently, futures positions fell sharply, but Bitcoin ETF fund flows were relatively stable, indicating that short-term traders are leaving the market and may sell their chips to long-term investors. Currently, market funding rates and trading volumes are both at low levels. Analysts believe that unless new macro catalysts emerge, it is unlikely that Bitcoin ETF funds will grow significantly.
Nick Forster, founder of Derive, holds a similar view. He said: "Bitcoin may be in a normal correction phase, and the cycle peak has not yet arrived. Historically, Bitcoin will experience this type of correction during a long-term rise, and there is no reason to think that this time will be different."
The Federal Reserve is expected to maintain its current policy stance at the March FOMC meeting, and analysts at Bank of America Securities expect the Fed to adopt a cautious and measured policy amid rising economic uncertainty. The Fed is likely to prioritize "patience over panic," keeping interest rates steady while assessing the balance between slowing economic growth and persistent inflationary pressures. Bank of America analysts expect the Fed's latest economic forecasts to reflect elements of stagflation, with growth forecasts to weaken and inflation expectations adjusted upward. While the market has speculated on the timing of a possible rate cut, policymakers are likely to reiterate their data-driven approach, emphasizing the need for further clarity on the economic outlook before making any policy shifts. Investors will be closely watching Fed Chairman Powell's speech to understand how the Fed views evolving risks, including supply-side disruptions, labor market resilience, and geopolitical uncertainty.
Project News
Filecoin Ecosystem DeFi Protocol Glif Launches GLF Governance Token and Airdrops 94 Million Tokens
Filecoin's largest DeFi protocol GLIF released GLF governance tokens and airdropped 94 million tokens, accounting for 9.4% of the total supply. GLF will expand to new features such as loyalty rewards in the future. GLIF is expanding to the decentralized physical infrastructure network (DePIN), beyond the Filecoin ecosystem. At present, GLIF has locked more than $102 million on Filecoin and will support more DePIN networks in the future. The specific list has not yet been announced.
EOS transforms into a "web3 bank" and changes its name to Vaulta, plans to launch a new token
The public chain EOS will be renamed Vaulta and transformed into a "web3 bank". If the proposal is approved, EOS tokens will be exchanged for new vaulta tokens starting in May. Vaulta will be built around the blockchain's existing EOSIO software and integrated with exSat, a so-called "docking layer" that brings smart contracts to Bitcoin. The cross-chain system will have 1-second transaction finality and support C++ and EVM-compatible smart contracts. Vaulta's "web3 banking operating system" will provide a set of institutional-grade financial services through partner projects including Ceffu, Spirit Blockchain and Blockchain Insurance. The Vaulta Bank Advisory Board is composed of experts in the financial and blockchain industries, and members will come from Systemic Trust, Tetra and ATB Financial.
Raydium is developing LaunchLab, a Meme coin issuance platform, to compete with Pump.fun
According to The Block, Solana Ecosystem decentralized exchange Raydium plans to launch a Meme coin issuance platform "LaunchLab" to compete with Pump.fun. Raydium's "LaunchLab" is essentially a fork of Pump.fun, but with some selective differences. It will use a similar logarithmic bonding curve, but also allow third-party user interfaces to set fees and directly access Raydium's liquidity pool. The project has reportedly been in development for several months.
According to The Block, Gyroscope, the stablecoin protocol behind Gyro Dollars (GYD), has launched its governance token GYFI. Gyroscope co-founder Lewis Gudgeon said that the launch of the GYFI token includes airdropping up to 2.1 million tokens to eligible users - about 15% of the total supply of 13.7 million GYFI. Airdrop qualifications are determined through Gyroscope governance voting, and users who participate in SPIN points activities, founding member NFT holders, and Gyroscope Galxe activities are included. Users who receive GYFI can choose to receive liquidity tokens in full or lock tokens for additional rewards: 40% additional GYFI for locking for 9 months and 150% additional GYFI for locking for 18 months. GYFI will allow holders to participate in a decentralized governance system where they can vote in protocol decisions. In addition, Gyroscope mentioned that a buyback and destruction mechanism may be implemented in the future.
MyShell Launches Shell Launchpad, AI Agent Launch and Tokenization Platform
MyShell, the AI consumer layer, recently announced on the X platform that Shell Launchpad is now online, a tool for launching and tokenizing AI agents. Shell Launchpad provides 3 modes for creating AI agents: ① Classic mode, suitable for beginners to build basic AI agents; ② Professional configuration mode, a low-code option for advanced developers; ③ ShellAgent mode, a professional framework for building multi-agent applications without coding.
Binance will launch FORM perpetual contract with up to 50x leverage
Binance announced the launch of StraitsX USD (XUSD) and Four (FORM), supporting Simple Earn, Buy Crypto, Convert, Margin, Auto-Invest and other functions. It will also launch FORM perpetual contracts at 16:00 Beijing time on March 19, with a maximum leverage of 50x.
Cosmos gets native EVM framework via open source Evmos
As reported by The Block, Cosmos’ Interchain Foundation (ICF) has funded the open source of Evmos (EVMOS -32.90%), the native EVM framework for its multi-chain ecosystem of more than 200 application chains. The foundation said that the framework, previously developed under the Evmos project, will now be maintained in the official cross-chain software stack as “Cosmos EVM”, including the Cosmos SDK, which means that the Cosmos ecosystem now has a standardized version of the Ethereum Virtual Machine (EVM). This development enables the Cosmos blockchain to integrate the Cosmos EVM for full EVM compatibility, including support for JSON-RPC and Ethereum wallet compatibility through lightweight EVM configuration for native ERC-20 tokens. The integration strengthens cross-chain interoperability between the broader EVM ecosystem and Cosmos through the Inter-Chain Communication (IBC) protocol. As part of this transition, Evmos co-founder Federico Kunze Küllmer will no longer serve as a core contributor to Evmos while continuing to advise the ICF on the interoperability and modular architecture of the Cosmos EVM, Evmos noted. Kunze Küllmer's company Altiplanic was a core contributor to the Evmos codebase and will no longer be involved in the project.
Binance will support BNB Smart Chain (BEP20) and opBNB Chain (opBNB) network upgrades and hard forks
According to the official announcement, Binance will support the network upgrade and hard fork of BNB Smart Chain (BEP20) and opBNB Chain (opBNB). The opBNB Chain (opBNB) will undergo a network upgrade at 10:10 (ET8) on March 20, 2025. Binance expects to suspend the token deposit and withdrawal services of opBNB Chain (opBNB) at 10:05 (ET8) on March 20, 2025. BNB Smart Chain (BEP20) will undergo a network upgrade at 10:10 (ET8) on March 20, 2025. Binance expects to suspend the token deposit and withdrawal services of BNB Smart Chain (BEP20) at 10:05 (ET8) on March 20, 2025.
Important data
Suspected Sun Yuchen’s address pledged 60,000 ETH to Lido yesterday, worth over $100 million
According to Arkham monitoring, the suspected Justin Sun address pledged 60,000 ETH to Lido yesterday, worth over $100 million.
Perhaps due to CZ changing his profile picture, mubarak rose by 28.46% in a short period of time
According to GMGN market data, mubarak rose 28.46% in a short period of time, and is now quoted at $0.17268, possibly due to CZ's profile picture change. Note: This token has a large fluctuation range, please pay attention to the safety of funds, this is not an investment advice, DYOR.
PancakeSwap’s 24-hour trading volume reached $2.672 billion, leading the DEX market
According to the latest data from DefiLlama, PancakeSwap's trading volume in the past 24 hours was US$2.672 billion, and its trading volume in 7 days increased by 32.09% month-on-month. Uniswap's 24-hour trading volume was US$1.188 billion, and its trading volume in 7 days decreased by 48.94% month-on-month. Raydium's 24-hour trading volume was US$408 million, and its trading volume in 7 days decreased by 29.44% month-on-month. Curve Finance's 24-hour trading volume was US$244 million, and its trading volume in 7 days decreased by 18.64% month-on-month. Orca's 24-hour trading volume was US$244 million, and its trading volume in 7 days decreased by 39.14% month-on-month.
A whale withdrew 59,406 SOL from Kraken and then sold it on DEX for 7.47 million USDT
According to Lookonchain monitoring, a whale withdrew 59,406 SOL from Kraken and sold it on DEX at an average price of $125.8 in exchange for 7.47 million USDT.
Financing
AI-driven Metaverse Technology Platform Peer Completes $10.5 Million in New Round of Financing
According to NFT Plazas, Peer Global Inc. has completed a new round of financing of US$10.5 million, bringing its total investment to US$65.5 million. The financing was led by Tommy Mai's family office and will be used to expand Peer's development team, enhance its artificial intelligence capabilities, and improve its metaverse platform.
According to reports, Peer is a technology platform that integrates artificial intelligence to create interactive digital environments. The company has launched a 3D personal planet that allows users to create and customize digital spaces for social interaction. Peer's metaverse engine provides developers with tools to build AI-generated digital environments. Peer's monetization strategy includes virtual property sales, that is, users can purchase and personalize digital spaces.
Crypto prediction platform Yeet completes $7.75 million in financing, led by Dragonfly
According to Decrypt, the crypto prediction platform Yeet has completed a $7.75 million financing round, led by Dragonfly, with participation from angel investors including Pudgy Penguins CEO Luca Netz and LayerZero CEO Bryan Pellegrino.
According to reports, Yeet was co-founded by Michael Anderson (alias Mando), a well-known figure in the crypto field, anonymous trader Keyboard Monkey and professional poker player Ben Lamb. It focuses on the "prediction market for crypto users" and targets crypto-native groups with high-risk preferences.
Via Science, Inc. (VIA) has closed $28 million in Series B funding to accelerate the development of its data and identity protection platform for governments and enterprises. Investors in this round include Bosch Ventures (lead), BMW i Ventures, MassMutual Ventures, and Sentinel Global. New investors joined Westly Group and certain existing investors in the minority investment.
Graphite, an AI code review platform backed by Anthropic, announced the completion of a $52 million Series B financing round led by Accel, with participation from Anthropic's Anthology Fund, Menlo Ventures, Shopify Ventures, Figma Ventures, Andreessen Horowitz, and The General Partnership. Founded in 2020 by Tomas Reimers, Greg Foster, and Merrill Lutsky, Graphite initially focused on mobile development tools before turning to AI-driven code review. Its platform uses models from Anthropic and OpenAI to provide code feedback, error detection, and automatically fix code problems. Currently, Graphite serves more than 500 companies, including Shopify, Snowflake, Figma, and Perplexity, with revenue growing 20-fold in 2024. In addition, Graphite is launching a new product, Diamond, designed to automatically capture code errors.
Crypto development platform Crossmint completes $23.6 million financing, led by Ribbit Capital
The crypto development platform Crossmint announced that it has completed a $23.6 million financing, covering seed rounds, A rounds and strategic financing, led by Ribbit Capital, with participation from Franklin Templeton, Nyca, First Round, Lightspeed Faction and others. Crossmint provides API tools to help developers easily integrate crypto functions without having to deeply understand blockchain technology. Its current customers include 40,000 companies and developers such as Adidas, Red Bull, and Coinbase.
Solana RWA Protocol ORO Completes $1.5 Million Pre-Seed Financing
Solana Ecosystem RWA (Real World Asset) Protocol ORO has completed a $1.5 million Pre-Seed round of financing, led by 468 Capital, with participation from Fasset, Collective, Dead King Ventures and several angel investors. ORO aims to tokenize gold, making it an on-chain asset that can be pledged, borrowed, and earn income. The team plans to use the new funds to expand development and promote the application of gold in the Solana DeFi ecosystem.
Web3 workflow protocol Halliday completes $20 million Series A financing, led by a16z crypto
Web3 workflow protocol developer Halliday announced the completion of a $20 million Series A funding round, led by a16z crypto, with participation from Avalanche Blizzard Fund, Credibly Neutral, Alt Layer and several angel investors, bringing its total funding to $26 million. Halliday is committed to simplifying the process of creating smart contracts, and its infrastructure allows developers to delegate workflows to automated systems to shorten development time. The company plans to use the new funds to expand its engineering team (currently 17 people) and further develop workflow protocols and payment applications Halliday Payments.
Peregrine Exploration, the development company behind the stablecoin protocol Level, recently completed a new round of financing of US$2.6 million, led by Dragonfly Capital and participated by Polychain, bringing the total financing amount to US$6 million. New investors include Flowdesk, Echo Syndicates, Native Crypto, Feisty Collective, as well as Frax founder Sam Kazemian and Injective co-founder Albert Chon. Level's income-generating stablecoin lvlUSD has exceeded US$80 million in supply since the beta version was launched five months ago, and plans to include Morpho as a source of income while expanding the utility of lvlUSD.
