Today's news tips:
US SEC says proof-of-work mining does not involve securities laws
Upbit to List ORCA Tokens in KRW, BTC, and USDT Markets
Binance has launched the first batch of voting tokens, and the “Voting” pool includes 21 tokens
Binance will delist AERGO, AST, BURGER, COMBO, and LINA
Upbit to List ORCA Tokens in KRW, BTC, and USDT Markets
YZi Labs Announces Jane He as General Partner to Lead Biotech Investments
Regulatory/Macro
According to the Korea Economic Daily, the Financial Intelligence Analysis Unit (FIU) under the Financial Services Commission (FSC) of South Korea has taken enforcement action against overseas cryptocurrency exchanges that provide services to Korean users without registration, in accordance with the Specific Financial Transaction Information Reporting and Use Act. According to reports, the FIU is considering blocking website access as the main enforcement measure, and the target exchanges include BitMEX, KuCoin, CoinW, Bitunix and KCEX.
SlowMist Yuxian forwarded a security case about the use of hardware wallets on the X platform: "A user stored BTC in a hardware wallet and thought it was safe. After a few years, he took it out and found that the battery was swollen and could not be used. He found a wallet of the same model and went to Huaqiangbei to change the battery. As a result, he opened it and found that the wallet had been initialized and there was no backup. It was lost forever. Remind everyone that you must make a backup after using the hardware wallet. If you need to repair the hardware wallet, you must find a professional hardware team." Yuxian commented on this: "After a few years, the battery is swollen and can't be used. The wallet has been initialized? Which hardware wallet, let's avoid the pit... If there is a mnemonic backup, it can be tolerated... If there is no backup, it's really XX..."
US SEC says proof-of-work mining does not involve securities laws
According to The Block, the U.S. Securities and Exchange Commission (SEC) has clarified its position on certain proof-of-work (PoW) mining activities, the latest move by the agency after it shifted to a friendlier attitude toward the cryptocurrency industry. In a statement released by the SEC's Division of Corporate Finance on Thursday, SEC staff said that proof-of-work mining does not involve the issuance and sale of securities; therefore, parties involved in mining activities do not need to register transactions with the Commission under the Securities Act, nor do they fall within the scope of the registration exemptions in the Securities Act related to these mining activities. In its conclusion on Thursday, the SEC relied on the "Howey Test" - a 1946 U.S. Supreme Court case that the SEC often cites to determine whether an asset meets the definition of an investment contract and is therefore a security. The test relies on four questions: whether it involves an investment of funds, whether it involves a common enterprise, whether there is an expectation of profit, and whether the profit comes from the efforts of others.
Metaplanet appoints Trump's son Eric Trump to strategic advisory board
According to official news, Japanese listed company Metaplanet appointed Trump's second son Eric Trump as a member of the strategic advisory board.
Australia Unveils New Crypto Regulations, Promises to Address Unbanking
According to Decrypt, the government led by Australian Prime Minister Anthony Albanese has outlined a new digital asset regulatory framework that aims to provide greater certainty to industry participants while addressing risks associated with consumer protection and market integrity. The reform will require major cryptocurrency platforms to obtain an Australian financial services license while exempting small businesses and companies that do not involve financial services. The Australian Treasury's statement document on "Developing an Innovative Australian Digital Asset Industry" released on Thursday details plans to regulate digital asset platforms and payment stablecoins under existing financial services laws. "By aligning with international best practices, Australia can enhance the global competitiveness of the digital asset industry," the document reads. The proposed framework will apply to cryptocurrency exchanges, custody services, and specific brokerage platforms that facilitate digital asset trading and storage. Businesses that provide tokenized stored value facilities, including some stablecoin issuers, will also be subject to licensing and compliance obligations. However, companies that create or use digital assets, develop software, or maintain digital asset infrastructure for non-financial purposes will not be subject to the new regulations. The government also acknowledged that de-banking (i.e., financial institutions restricting services to cryptocurrency companies) is a growing problem. The new licensing system aims to improve risk management and transparency within the industry, which may reduce the de-banking behavior of major financial institutions. "The government has been working with stakeholders to ensure transparency and fairness, including engaging with Australia's major banks to understand the extent of unbanking," the document reads.
YZi Labs Announces Jane He as General Partner to Lead Biotech Investments
YZi Labs announced on the X platform that Jane He has been appointed as its general partner to lead biotech investments while contributing to the company's broad strategy in the fields of AI and Web3. Jane's appointment comes as YZi Labs expands its investment focus from Web3 to AI and biotech after its recent rebranding. It is reported that before joining YZi Labs, Jane was an investor and COO of a Hong Kong hedge fund, focusing on growth investments in biotech and innovation-driven fields. Her portfolio and research cover cancer treatments (immunotherapy, cell therapy, antibody-drug conjugates), metabolic treatments (GLP-1 drugs for obesity and type 2 diabetes), oligonucleotide therapies (mRNA, siRNA, ASO), gene editing, sequencing, and medical devices. She also actively explores opportunities in the intersection of AI and biotech. Jane previously held a leadership position at alternative investment management company PAAMCO Prisma, responsible for managing its investments in other funds in Asia. Jane holds an MBA from Stanford University and graduated as an Arjay Miller Scholar.
According to PR Newswire, crypto derivatives exchange Bitnomial announced the launch of XRP US Dollar Myra (XRUY) futures, the first CFTC-regulated XRP futures product in the United States. Bitnomial's physically settled futures ensure that the contract is delivered with actual XRP at the time of settlement, which is different from cash settlement alternatives that do not interact directly with the underlying assets. In addition, Bitnomial announced that yesterday, Bitnomial Exchange, LLC filed a voluntary withdrawal notice with the U.S. Securities and Exchange Commission (SEC). In October 2024, Bitnomial Exchange, LLC filed a lawsuit with the SEC, focusing on whether Bitnomial's XRP futures are security futures contracts. Bitnomial welcomes the SEC's evolving cryptocurrency policies, which provide greater clarity on XRP's securities status.
According to Cryptoslate, Tether continues to play an important role in the U.S. Treasury market, firmly ranking as the seventh largest buyer of U.S. Treasuries in 2024. On March 20, Tether CEO Paolo Ardoino updated the X platform, revealing that the company purchased $33.1 billion in U.S. Treasuries in 2024. This figure exceeds the holdings of countries such as Canada, Taiwan, Mexico, Norway, Hong Kong, South Korea, Germany and Saudi Arabia. Despite reaching this milestone, Ardoino pointed out that the Cayman Islands led the world with purchases of more than $100 billion. It was followed by France, Luxembourg, Belgium, Singapore and the United Kingdom. However, he clarified that holdings in regions such as the Cayman Islands and Luxembourg include investments from multiple hedge funds, while Tether's assets belong to a single entity. Tether uses U.S. Treasuries as the cornerstone of its reserve strategy to ensure the stability of the company's USDT stablecoin. According to Tether's latest quarterly reserve report in December 2024, the company's total holdings of U.S. Treasuries are worth $94 billion.
Viewpoint
10x Research published an article on the X platform saying that as expected, the Federal Reserve lowered its economic growth forecast and slightly slowed the pace of balance sheet reduction (QT). Although this move is not as dovish as the market hoped, it still tends to be dovish. Fed Chairman Powell reinforced this tone in his post-meeting press conference, emphasizing that the recent rise in inflation may be temporary, while long-term inflation expectations remain solid. This suggests that the Fed may remain on hold for the next few months. By acknowledging weak economic growth while downplaying inflation concerns, the Fed hinted that a rate cut is increasingly likely. Our basic view is that the Fed will keep interest rates unchanged until September, and the announced QT slowdown will provide some support. However, ongoing risks may limit the upside potential of risky assets after the initial rebound. Traders should distinguish between short-term tactical bullish layouts and more cautious medium-term prospects. As long as Bitcoin remains below the $90,000-92,000 resistance zone (a major obstacle according to multiple indicators), the market may remain in a consolidation phase. Large investors are likely to remain on the sidelines ahead of Trump’s expected tariff announcement on April 2 and the start of the U.S. corporate earnings season around April 11, when major banks begin reporting. There is little evidence that retail traders are re-entering the market or viewing Powell’s recent dovish comments as a buying opportunity. Market structure indicators remain subdued, suggesting that this rally is unlikely to gain significant momentum or return Bitcoin to the broader bullish sentiment.
Zhang Ming, deputy director of the National Financial and Development Laboratory, published an article in the Study Times titled "Digital Currency Reconstructs the International Financial System", in which he pointed out that the nature of Bitcoin is not a real currency, but a peculiar financial asset, which itself has investment value. Bitcoin is more like a risky asset, and also like a safe-haven asset that can hedge against fluctuations in the US dollar exchange rate. The article proposes a response strategy for the reconstruction of the international financial system by digital currency. On the one hand, the scope of digital RMB substitution should be expanded from M0 (cash) to M1 (cash plus demand deposits) and even M2 (cash plus all deposits) as soon as possible. On the other hand, China's stable currency construction should be promoted, and the use of digital tokens on Internet platforms should be expanded, so as to more calmly deal with the challenges of the US dollar stable currency.
BlackRock’s head of digital assets: Approval for staking would be a “huge leap” for Ethereum ETFs
According to CNBC, demand for Ethereum ETFs has been tepid since their launch in July last year, and Robert Mitchnick, head of digital assets at BlackRock, said that this could change if some of the regulatory issues that are hindering their development are "resolved." Mitchnick said at the Digital Asset Summit in New York City on Thursday that the general perception is that the success of Ethereum ETFs is "underwhelming" compared to the explosive growth of funds tracking Bitcoin. Although he believes this is a "misunderstanding," he admitted that the inability of these funds to earn staking returns may be a factor hindering their development. He said: "Obviously, there is a next stage in the potential development of [Ethereum ETFs], and ETFs have proven to be a very, very attractive tool for many different types of investors to hold Bitcoin. There is no doubt that for ETH today, ETFs without staking are not perfect. Staking yield is an important part of how you generate investment returns in this space, and all [Ethereum] ETFs have no staking capabilities when they are launched. This is not a particularly easy problem to solve. It's not like... the new government just gives the green light and then we're all good and start to make a big move. There are a lot of fairly complex challenges that need to be solved, but if these problems can be solved, then the activity we see around these products will be a qualitative leap."
Project News
Coinbase Adds Freysa (FAI) to Its Asset Roadmap
PANews reported on March 20 that according to Coinbase Assets officials, Freysa (FAI) has been added to its asset roadmap.
Binance has launched the first batch of voting tokens, and the “Voting” pool includes 21 tokens
Binance has launched the first batch of voting to delist. Each user can vote for up to 5 projects in the "Vote to Delist" pool. Each verified account can only vote once for each project. Users must log in to their verified Binance account and hold at least 0.01 BNB in their main account throughout the voting period for their vote to be valid. The voting time is from 06:30 (UTC) on March 21, 2025 to 23:59 (UTC) on March 27, 2025. The voting results are not the only factor that determines the final delisting decision. Project monitoring is still under evaluation, and the final decision will be made by Binance based on Binance's official review process and standards. In addition, the delisting timeline will depend on Binance's procedures. The options for this vote include JASMY, ZEC, FTT, ELF, SNT, STPT, BAL, ARK, GPS, MBL, PROS, CTXC, HARD, BETA, CREAM, FIRO, VIDT, NULS, TROY, ALPACA, UFT.
Binance will delist AERGO, AST, BURGER, COMBO, and LINA
According to the official announcement, Binance has decided to stop trading and delist the following currencies at 11:00 (ET) on March 28, 2025: Aergo (AERGO), AirSwap (AST), BurgerCities (BURGER), COMBO (COMBO), and Linear Finance (LINA). In addition, a voting delisting function will be introduced after this batch of delistings. Projects that have been announced to be delisted will no longer participate in voting to delist.
Upbit to List ORCA Tokens in KRW, BTC, and USDT Markets
According to the official announcement, Upbit will list ORCA tokens in the Korean won, BTC, and USDT markets.
According to the monitoring of on-chain analyst @ai_9684xtpa, the developer of BSC Meme coin BUBB has made a floating profit of $580,000 with only 0.31 BNB, a return rate of 3028 times. He bought 3.87% of the chips at a cost as low as $0.000004878, and transferred 10 million of them to CZ's public donation address 27 hours ago (accounting for 1% of the total), and the rest has not been sold yet because He Yi interacted with the official push this morning and paid attention to it. BUBB's market value has exceeded $20 million, and the current price is $0.02111.
Pump.fun adds the function of jumping to MEXC DEX Plus trading in the trading panel
Pump.fun has integrated a link button to MEXC DEX trading in the trading panel. Users can directly jump to DEX Plus launched by MEXC Exchange for trading. On March 19, MEXC Exchange launched DEXPlus, a hybrid product of CEX and DEX. It currently supports the Solana ecosystem, allowing users to trade on-chain tokens on Raydium and pump.fun directly on the MEXC exchange client and website. According to the official introduction, it is planned to expand to Binance Smart Chain (BSC) on March 26.
Bithumb to List Pax Gold (PAXG) in Korean Won Market
South Korean crypto exchange Bithumb has announced that it will list Pax Gold (PAXG) in the Korean won market.
Doodles CEO: White paper will be released before DOOD token TGE
“Ahead of the DOOD Token Generation Event (TGE), we’re sharing our whitepaper, what we’ve been building, and how it all ties together,” Scott Martin (@burnttoast), CEO of NFT project Doodles, announced on X Platform.
Coinbase adds ALT, PENDLE and L3 to its listing roadmap
Coinbase announced that it will add AltLayer(ALT), Pendle(PENDLE) and Layer3(L3) to its asset listing roadmap.
Pump.fun launches DEX called PumpSwap, which can instantly migrate graduated tokens
According to The Block, the Solana-based Meme coin launch platform Pump.fun has launched a native decentralized exchange (DEX) called PumpSwap. Pump.fun's tokens will be transferred directly to PumpSwap after completing their bonding curve, seemingly skipping the step of migrating to Raydium, a Solana-based decentralized exchange and automated market maker (AMM). Pump.fun wrote on the social media platform X that the move not only cancels the 6 SOL migration fee, but also opens up opportunities for future creator revenue sharing. Each transaction on PumpSwap will charge a 0.25% fee, of which 0.2% goes to liquidity providers and 0.05% belongs to the protocol. Pump.fun said that PumpSwap is comparable to Uniswap v2 and Raydium v4 through its constant product AMM mechanism. The launch of PumpSwap comes at a time when Pump.fun and Raydium seem to have plans to squeeze each other out. Pump.fun tested its AMM functionality in late February, while Raydium has reportedly been developing its own meme coin creation platform LaunchLab over the past few months. The launch of PumpSwap also comes as Pump.fun has seen a 94% drop in trading volume since the beginning of 2025, and a subsequent drop in the number of graduated tokens migrating to Raydium. Tokens must reach a market cap of $69,000 on Pump.fun before they can migrate to Raydium for secondary market trading.
LG announced plans to close its NFT marketplace Art Lab on June 17
LG is shutting down its NFT marketplace Art Lab for TVs, The Verge reports. In a notice posted on its website, LG said it had made the "difficult decision" to shut down the platform on June 17. The company said users will no longer be able to make purchases on the platform from March 10. The LG Art Lab team will automatically transfer their NFTs to their own wallets by April 30. "As the NFT space continues to grow, we believe now is the right time to shift focus and explore new opportunities," LG said. The platform will be completely shut down in June. LG launched the Art Lab app during the NFT craze in 2022, advertising it as a way to "buy, sell and enjoy high-quality digital art" through TV. It added new digital art to the platform through a "groundbreaking" NFT drop, which users can purchase through LG's crypto wallet app Wallypto by scanning a QR code to complete the transaction. At launch, LG Art Lab ran on the Hedera network, which uses a blockchain alternative called hashgraph, but expanded to Ethereum last year.
Important data
Stablecoin market capitalization exceeds $230 billion for the first time
According to The Block, on Thursday, the total market value of stablecoins exceeded $230 billion for the first time, as U.S. regulators worked hard to promote the adoption of stablecoins. According to DefiLlama data, the current total market value is $230.45 billion, an increase of $2.3 billion in the past seven days. Compared with the same period last year, the market value of stablecoins has increased by 56%. In the overall market value, Tether's USDT stablecoin dominates, with a market value of nearly $144 billion, accounting for 62.6%, followed by Circle's USDC, with a market value of $59 billion.
According to Spot On Chain, in the past 4 days, 19 new wallets (likely one entity) withdrew 61.52 million OM (about 3.4% of the total supply) from Binance at an average price of $6.82 (about $420 million in total). Their current unrealized losses are $14.2 million (-3.39%).
According to SoSoValue data, yesterday (March 20, Eastern Time), the total net inflow of Bitcoin spot ETFs was $166 million. The Bitcoin spot ETF with the largest net inflow in a single day yesterday was BlackRock Bitcoin ETF IBIT, with a net inflow of $172 million in a single day. Currently, IBIT's total net inflow has reached $39.669 billion. The second is VanEck ETF HODL, with a net inflow of $11.8985 million in a single day, and the total net inflow of HODL in history has reached $844 million. The Bitcoin spot ETF with the largest net outflow in a single day yesterday was Bitwise ETF BITB, with a net outflow of $17.4015 million in a single day, and the total net inflow of BITB in history has reached $2.024 billion. As of press time, the total net asset value of Bitcoin spot ETFs was $94.472 billion, and the ETF net asset ratio (market value to Bitcoin's total market value) reached 5.63%, and the cumulative net inflow in history has reached $35.965 billion.
PANews 3 months 24 times (65.68 million US dollars) of income. He/they received and hoarded these 34,000 ETH through itfinex, Changelly, and ShapeShift in March 2017. At that time, the price of ETH was only $44, and these ETH were worth $1.5 million. He/they hoarded ETH just before ETH took off. In the following months, ETH rose from double digits to more than $000+. These ETH were transferred to Coinbase 5 hours ago. The current price of ETH is $1,969, with a value of up to $67.18 million, a 44-fold increase in value.
Financing
Manifest Finance, a tokenized real estate investment platform, has completed a $2.5 million financing round, led by VanEck, with participation from Lattice Fund, Compound and SALT Fund. According to reports, Manifest is a decentralized finance (DeFi) platform that allows users to invest in tokenized U.S. real estate assets. By leveraging blockchain technology, Manifest provides partial ownership opportunities, enabling investors to acquire real-world assets (RWA) with lower capital requirements and higher liquidity.
Multi-party computing platform Stoffel MPC completes $1.6 million Pre-seed round of financing
Stoffel MPC, a privacy-focused multi-party computing platform, has completed a $1.6 million Pre-seed round of financing, led by Eterna Capital and Robot Ventures, with participation from several angel investors. According to reports, Stoffel is a platform designed to help developers build privacy-centric applications using multi-party computing (MPC) technology.
Crypto-backed uranium spot market Uranium Digital raises $6.1 million led by Framework Ventures
Uranium Digital founder Alex Dolesky announced that the company has raised $6.1 million in seed funding to accelerate the creation of a uranium spot trading platform using crypto infrastructure. The financing was led by Framework Ventures. Uranium Digital plans to become the world's first institutional market for uranium, an important clean energy commodity, although the uranium market has not matured due to strict regulations and low demand. With the recovery of nuclear energy demand, Dolesky believes that the creation of an efficient and fast uranium spot market will attract more institutional investors.
