The White House Crypto Summit will begin at 2:30 a.m. Beijing time on March 8
PANews reported on March 5 that according to Fox Business News reporter Eleanor Terrett, according to the invitation email of the White House's first cryptocurrency summit, the meeting will last from 1:30 pm to 5:30 pm on March 7 (2:30 to 6:30 am, Saturday, March 8, Beijing time), and no other details were disclosed in the email except the time and location. Earlier today, it was reported that executives from Coinbase, Robinhood and other companies confirmed that they would attend the White House Crypto Summit this Friday .
US SEC agrees to drop lawsuit against Cumberland DRW
PANews reported on March 5 that crypto trading company Cumberland DRW posted on the X platform: "Today, we signed a joint document with the U.S. Securities and Exchange Commission (SEC) requesting the dismissal of the lawsuit against Cumberland DRW. The document was agreed in principle by Cumberland DRW and SEC staff on February 20 and is currently awaiting approval from the Commission. As a company that firmly upholds the principles of integrity and transparency, we look forward to continuing our dialogue with the SEC to jointly promote a future where technological advancement and regulatory clarity go hand in hand, ensuring that the United States remains at the forefront of global financial innovation."
U.S. Senate votes to repeal IRS cryptocurrency rules, pending House vote
PANews March 5 news, according to CoinDesk, on Tuesday, the U.S. Senate, with the strong support of many Democrats, successfully passed a resolution aimed at repealing the Biden administration's cryptocurrency tax rules, which may be the biggest obstacle to eliminating the U.S. Internal Revenue Service (IRS) new broker rule (which was originally planned to cover decentralized finance DeFi). The Senate passed a resolution authorized by the Congressional Review Act by 70 votes to 27, aimed at completely repealing the expansion of the IRS broker rule. However, the House of Representatives 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 Once completed, not only will the rule be completely repealed, but the IRS will also be prohibited from pursuing similar policies in the future. The House Financial Services Committee has passed an identical resolution and recommended approval in a full House vote, which is still awaiting a vote. The White House said earlier today that the president may sign the resolution quickly.
Earlier yesterday, it was reported that the White House supports the abolition of the "Crypto Broker Reporting Rules" and opposes the expansion of DeFi regulation .
El Salvador’s President: Bitcoin purchases will not stop due to IMF agreement
PANews March 5 news, according to CoinDesk, El Salvador, led by the country's President Nayib Bukele, apparently has no intention of stopping accumulating Bitcoin, no matter what the International Monetary Fund (IMF) requires. Bukele posted on the X platform that El Salvador will not stop accumulating Bitcoin: "When the whole world rejects us and most of the 'Bitcoin believers' abandon us, it has not stopped, it will not stop now, and it will not stop in the future. Proof of Work is greater than Proof of Complaint." Shortly after Bukele posted on social media, the International Monetary Fund announced more details of its $3.5 billion loan agreement with the Latin American country. The IMF claims that as part of the loan program, it has banned "voluntary accumulation of Bitcoin by the public sector." Perhaps in response to the IMF's post, El Salvador disclosed late Monday night that it had purchased 19 Bitcoins in the past seven days, and then disclosed on Tuesday afternoon that it had purchased an additional coin on this basis. The Salvadoran government currently holds 6,101.15 Bitcoins, which is worth about $530 million at Bitcoin's current price of about $88,000.
US Treasury Sanctions 49 Bitcoin and Monero Addresses Linked to Defunct Dark Web Market Nemesis
PANews reported on March 5 that according to The Block, the US government disclosed in an announcement that it had added dozens of Bitcoin (BTC) and Monero (XMR) addresses to its entity sanctions list. On Tuesday, the US Treasury Department's Office of Foreign Assets Control (OFAC) confirmed 49 virtual currency addresses used by Iranian national Behrouz Parsarad, who is allegedly the administrator of the dark web market Nemesis. A total of 44 Bitcoin addresses and 5 Monero addresses were included in the sanctions list. Parsarad became the target of international law enforcement actions in 2024. Nemesis reportedly 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. “Parsarad profited by charging Nemesis users a fee for each transaction, and OFAC estimates that he earned millions of dollars during the marketplace’s existence,” OFAC wrote in a statement. “In addition to providing a trading platform for criminals, Parsarad laundered funds for drug traffickers and cybercriminals active on Nemesis.” Nemesis offered a range of narcotics, personally identifiable data, counterfeit documents, ransomware, and cybercrime services such as phishing and DDoS tools.
David Sacks: Sold Multicoin holdings and cleared all crypto assets
PANews reported on March 4 that David Sacks posted on the X platform that he had sold Multicoin Capital's holdings and cleared all cryptocurrencies and crypto investment funds. He stressed that it was not necessary to do so at the time of the sale because the relevant ethical review process was still ongoing, but he took the initiative to withdraw and advised the outside world not to make "groundless and hysterical accusations" before knowing all the facts.
Less dilution, reducing the selling pressure on stakers. According to Coin Metrics, as of February, Solana's inflation rate was 4%, lower than the initial 8%, but still far above the terminal target of 1.5%, and is currently declining at a rate of 15% per year.
OpenAI launches NextGenAI consortium, pledges $50 million to support AI research and education
PANews reported on March 4 that according to an announcement by OpenAI, the company launched NextGenAI, an innovative alliance of 15 leading research institutions that aims to use artificial intelligence to accelerate scientific breakthroughs and promote educational change. OpenAI has pledged to provide $50 million in research funding, computing resources, and API access to support scholars, students, and researchers in exploring the frontiers of AI. Alliance members include MIT, Harvard University, Oxford University, California Institute of Technology, Texas A&M University, Boston Children's Hospital and other institutions. Members plan to use AI to advance the development of multiple fields such as healthcare, digital libraries, education reform, and scientific research automation. For example, Oxford University will use AI to digitize and archive precious documents, while Harvard University and Boston Children's Hospital will use AI to optimize the diagnosis process for rare diseases.
PANews reported on March 5 that asset management company VanEck said that Solana's planned protocol upgrade is critical to the long-term health of the network, but it may deal a blow to validators' income. In March, Solana's validators will vote on two blockchain protocol upgrade proposals (SIMD) that aim to ensure rewards for stakers and adjust the inflation rate of the network's native token SOL. Matthew Sigel, head of digital asset research at VanEck, said in a March 4 X post that the two proposals have caused "significant controversy" because they could cut validators' income by up to 95%, potentially endangering small operators. "While these changes may reduce staking rewards, we believe that reducing inflation is a worthy goal that can enhance Solana's long-term sustainability," Sigel said. Sigel introduced that the first proposal, SIMD 0123, will introduce an in-protocol mechanism to distribute Solana's priority fees to validator stakers. Traders can pay additional fees to speed up transaction processing, and priority fees account for 40% of network revenue, but currently validators do not need to share with stakers. The proposal, which was voted on March 6, aims to increase staking rewards and prevent off-chain transaction agreements, strengthening on-chain execution. Sigel called the second proposal, SIMD 0228, the "most impactful" proposal, which would adjust the SOL inflation rate to be inversely proportional to the percentage of staked token supply, thereby potentially reducing
PANews reported on March 5 that according to The Block, Reddit co-founder Alexis Ohanian is seeking to acquire TikTok to "chain" the social media app. The app plans to integrate the Frequency blockchain, a "decentralized social media protocol" designed to allow users to control their online content. Ohanian posted a message on X saying: "This is exciting news for the digital world. I am now officially one of the people trying to acquire TikTok's US business and put it on the chain. TikTok is a game changer for creators, and its future should be shaped by them. Users should own their data. Creators should own their audience." Ohanian joined Project Liberty, the bidding team previously announced by Frank McCourt, the former owner of the Los Angeles Dodgers of Major League Baseball (MLB), to acquire TikTok's US business, and will serve as a strategic advisor focusing on social media.
Blockstream receives billions of dollars in investment to launch three crypto funds
PANews March 5 news, according to Bloomberg, people familiar with the matter revealed that Bitcoin development company Blockstream Corp. has received a multi-billion dollar investment to launch three funds, two of which will support cryptocurrency lending. The investment shows that the cryptocurrency lending business, which was once out of favor after the collapse of Sam Bankman-Fried's FTX exchange at the end of 2022, has regained favor, and the rising price of Bitcoin and the pro-cryptocurrency White House policy will also benefit the business. Blockstream said in January that it plans to launch a fund to provide guarantees for Bitcoin-backed loans, another fund will support cryptocurrency lending with US dollars as collateral, and the third fund will adopt a hedge fund strategy. According to an unnamed person familiar with the matter, all three funds will go online on April 1, and two of the lending funds will be available for borrowing. The company plans to accept additional external funds starting July 1. Blockstream declined to comment further except to confirm the date of the planned launch.
Coinbase International will launch CAKE, BRETT, and AI16Z perpetual contracts
PANews reported on March 5 that Coinbase International announced that it will launch perpetual contracts (PERP) trading for PancakeSwap (CAKE), Brett (BRETT) and ai16z (AI16Z) on or after 9:30 UTC on March 6, 2025, supporting Coinbase International Exchange and Coinbase Advanced platforms.
PANews reported on March 4 that according to the team strategy released by Jupiter founder Meow, Jupiter will focus on decentralized liquidity platforms, global community expansion and Jupnet ecology in the next five years, and plans to allocate 280 million JUP to new team members in the next three years, but the source of funds needs to be decided by the community. The startup team initially held 20% (2 billion JUP), of which 600 million JUP have been destroyed, and currently there are 1.4 billion JUP left. The team members have expanded to 80 people, promoting projects such as Jupiter Research Center, Jup.ag, and Jupiter Mobile. Meow proposed two plans: Plan 1 (default) allocates 280 million JUP from the strategic reserve, which will be unlocked from July 2025 without community voting; Plan 2 (community voting) is paid by Meow's personal holding of 280 million JUP, which will be recovered from the strategic reserve in 2030, and an additional 220 million JUP will be applied for as an incentive (DAO adjustable). Meow said that if Plan 2 is approved, he will focus on the development of Jupiter in the next five years, and the community can supervise and adjust the final implementation plan.
Aave updates its token economic model, initially plans to repurchase $1 million of AAVE per week
PANews reported on March 4 that according to the Aave governance proposal, the Aave community proposed the latest token economics update [Aavenomics Implementation Plan: Part I], which aims to optimize the AAVE token economy, including launching AAVE buybacks, redistributing excess protocol revenue, terminating LEND token migration, and upgrading secondary liquidity management. Aave DAO currently has $115 million in cash reserves and expects revenue growth in 2025. The proposal plans to use the Umbrella security mechanism to ensure liquidity, while promoting Anti-GHO tokens to repay GHO debts or exchange for StkGHO. In addition, Aave will launch a "buy back and distribute" plan, initially repurchasing $1 million of AAVE per week and gradually expanding the scale. If the proposal is passed, it will enter the Snapshot voting stage and will be implemented by the Aave Finance Committee.
Binance Finance, one-click coin purchase, instant exchange, leveraged GoPlus Security (GPS)
PANews reported on March 4 that according to Binance’s announcement, GoPlus Security (GPS) will be launched on Binance’s multiple trading and wealth management platforms from 21:00 (Eastern Time Zone 8) on March 4, 2025. GPS’s principal-guaranteed coin-earning current product will be available for subscription on Binance’s wealth management platform, and users can purchase GPS through fixed investment from 18:00 on March 5. The one-click coin purchase function supports the purchase or sale of GPS by credit card, debit card, Google Pay, Apple Pay, etc. In addition, GPS can be exchanged for BTC, USDT and other assets on the flash exchange platform within 1 hour after it goes online, and there is no handling fee. In terms of leveraged trading, Coin Security Warehouse and Position-by-Position Leverage will add GPS borrowable assets, and open GPS/USDT, GPS/USDC, and GPS/FDUSD leveraged trading pairs.
Tether’s asset tokenization platform Hadron now supports Bitcoin sidechain Liquid
PANews reported on March 4 that according to Tether CEO Paolo Ardoino, Tether's Hadron now supports digital asset tokenization on Bitcoin sidechain Liquid. Liquid is Bitcoin's Layer 2 expansion solution, which aims to improve transaction speed, security and privacy protection.
Cross-chain protocol Across completes $41 million financing, led by Paradigm
PANews reported on March 4 that according to The Block, Across Protocol, which focuses on cross-chain interoperability, has completed $41 million in token financing, led by Paradigm, with participation from Bain Capital Crypto, Coinbase Ventures, Multicoin Capital and angel investor Sina Habinian. This round of financing was carried out in two phases, completed in Q2 and Q4 of 2024, with a total financing amount of $51 million. Across focuses on intent-driven cross-chain transactions, supporting users to transfer cross-chain assets through a single request, with an average transaction time of less than 5 seconds. Its technology is based on the ERC-7683 standard, which has been adopted by more than 50 protocols such as Base, Arbitrum, Polygon and Optimism, and is used for Uniswap's cross-chain bridging function. So far, Across has processed a total of $19 billion in transactions, of which the monthly transaction volume in January 2025 exceeded $1 billion.
Metaplanet completes approximately $87 million in financing to increase Bitcoin holdings
PANews reported on March 4 that Metaplanet announced that the company completed the large-scale exercise of the 13th and 14th series stock subscription rights through a third-party private placement, raising a total of approximately 12.97 billion yen (approximately 87 million US dollars). 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 to increase its holdings of Bitcoin to strengthen its digital asset investment strategy.
Flowdesk Completes $102 Million Funding to Expand Trading and Liquidity Business
PANews reported on March 4 that according to The Block, French crypto trading company Flowdesk has completed a $102 million financing, of which 90% is equity financing and 10% is debt financing. This round of financing was led by HV Capital, with participation from existing investors Eurazeo, Cathay Innovation and ISAI VC, and the debt financing was provided by funds managed by BlackRock. Flowdesk plans to use the funds to expand its over-the-counter derivatives trading business, launch a crypto credit department, and set up a new office in the UAE. The company also plans to double its headcount in the next 12 months, strengthen regulatory compliance, and actively respond to the implementation of the EU MiCA regulations.
PANews reported on March 4 that according to The Block, Berachain's liquid pledge protocol Infrared has completed a $14 million Series A financing, 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 a $2.25 million strategic round led by Binance Labs and a $2.5 million seed round, Infrared's total financing has reached $18.75 million. Infrared was incubated by the Berachain Foundation and launched two liquid pledge tokens, iBGT and iBERA, corresponding to Berachain's governance token BGT and gas token BERA, respectively. At present, the protocol has a TVL of over $1.7 billion, making it the largest protocol in the Berachain ecosystem. The Berachain mainnet was officially launched in February, but due to controversy over the proportion of investors and internal holdings, the BERA token has fallen 57% since its issuance on February 6.
PANews reported on March 5 that according to The Block, the trading volume of "graduated" Pump.fun tokens has dropped significantly since the beginning of the year, reflecting both the cooling of the broader market 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%. This drop coincides with the slowdown in the platform's token graduation rate, which has dropped from 1.85% per week to 0.83%, indicating that the number of new tokens that have reached the $100,000 market value threshold and are eligible to upgrade to Raydium has decreased. The shrinking trading volume points to possible fatigue among traders in the Solana meme coin ecosystem. After months of frenetic activity, many participants seem tired of the dark side of the field. Factors such as scams, suspicious influencer promotions, and insider trading groups have led to a general decline in people's trust in Meme coins. Despite the current market downturn, Pump.fun's overall influence remains significant since its launch on January 19, 2024. In just over seven months, the platform has generated $570 million in revenue.
Bitcoin ETF has a net outflow of 1,238 BTC today, and Ethereum ETF has a net outflow of 12,221 ETH
PANews reported on March 4 that according to Lookonchain data, both Bitcoin and Ethereum ETFs saw large-scale net outflows today: • 10 Bitcoin ETFs had a net outflow of 1,238 BTC (approximately US$102.85 million) • iShares (Blackrock) Bitcoin Trust (IBIT) had an outflow of 909 BTC and now holds 572,227 BTC (approximately US$47.55 billion) • Grayscale Bitcoin Trust (GBTC) had an outflow of 420 BTC, and its overall holdings fell to 196,387 BTC • 9 Ethereum ETFs had a net outflow of 12,221 ETH (approximately US$25.35 million) • iShares (Blackrock) Ethereum Trust (ETHA) had an outflow of 7,570 ETH and now holds 1,284,919 ETH (approximately US$2.66 billion) • Grayscale Ethereum Trust (ETHE) had an outflow of 5,521 ETH, and its total holdings fell to 1,263,919 ETH
PANews reported on March 4 that according to Onchain Lens monitoring, in the past hour, a whale spent 1,000 ETH (about $2.09 million) to buy 298.27 billion PEPE. Currently, the whale holds a total of 1.062 trillion PEPE (about $7.2 million) in two wallets, most of which can be traced back to 1.8 years ago.
A whale unstaked 79,530 SOLs 2 hours ago, with a cumulative profit of over 27 million US dollars
PANews reported on March 4 that according to Lookonchain monitoring, a whale unstaked 79,530 SOL (about 10.86 million US dollars) two hours ago. The whale withdrew 200,000 SOL (about 8.6 million US dollars) from Binance on November 8, 2023 and staked it, when the SOL price was 43 US dollars. On November 6, 2024, the whale unstaked and deposited 120,000 SOL (about 22.2 million US dollars) to Binance. Currently, the whale still holds 98,727 SOL (about 13.53 million US dollars), with a cumulative profit of more than 27 million US dollars.
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, a mysterious entity marked as "7 Siblings" on the chain purchased 17,855.3 ETH with $36.68 million in DAI, USDC and USDT, with an average price of $2,054. They are likely to hold more than 1,169,015 ETH in two different wallets, with a total value of approximately $2.53 billion.
PANews reported on March 4 that on-chain data showed that the Grayscale Bitcoin Trust (GBTC) address transferred 674.35 BTC to three addresses including Coinbase Prime Deposit at 22:21:43 (UTC+8) on March 4, 2025, with a total value of approximately US$56.037 million.
