1. Popular currencies on CEX
CEX top 10 trading volume and 24-hour rise and fall:
BTC: -4.72%
ETH: -6.32%
KAITO: +44.07%
IP: +25.01%
SOL: -5.55%
DOGE: -3.85%
LTC: +7.83%
XRP: -5.46%
SUI: -2.11%
Trump: -0.03%
24H increase list (data source: OKX):
KAITO: +44.07%
IP: +25.01%
PUNT: +16.61%
DUCK: +14.55%
NC: +13.09%
PRCL: +12.53%
G: +12.43%
BERA: +11.94%
ANIME: +10.16%
VINE: +10.16%
2. 24H hot search currencies
IP, continued to rise against the trend;
PI, the old “community coin”, rose against the trend;
Headlines
Bybit releases hacker forensics report: Funds stolen due to Safe infrastructure vulnerability
Bybit co-founder and CEO Ben Zhou published a hacker forensics report provided by Sygnia and Verichains on the X platform, which revealed that the theft of funds was caused by a vulnerability in the Safe infrastructure. In addition, the malicious code was deployed at 15:29:25 UTC on February 19, specifically targeting Bybits Ethereum multi-signature cold wallet.
U.S. President Donald Trump said he was launching a program that would offer residency and a path to citizenship to investors who pay $5 million, creating a new pathway for legal immigration as he launches a sweeping crackdown on undocumented immigrants. Trump said the program, dubbed the gold card, would be launched within two weeks, adding that he did not think his administration would need congressional approval. It was unclear what the full scope of the plan would be or how it would be implemented.
Bank of America CEO: Fed will keep interest rates unchanged this year and next
Bank of America Corp. Chief Executive Brian Moynihan said Tuesday that the bank expects the Federal Reserve to keep interest rates unchanged this year and next. It will take years to squeeze out inflation, and the Feds efforts to control inflation are likely to last until 2026, he said at a conference in Washington. Fridays personal consumption price index (PCE) report is expected to show the Feds progress in fighting inflation.
The team behind LIBRA and MELANIA is suspected of laundering money through cross-trading
According to Lookonchain monitoring, the internal team of LIBRA and MELANIA is laundering money through counter-trading. The team spent 19,846 SOL (about 2.76 million US dollars) to buy a meme coin (POPE) with a market value of less than 150,000 US dollars, and finally sold it at a price of 175 SOL (about 24,000 US dollars), losing 2.73 million US dollars. The 2.73 million US dollars was effectively transferred to other wallets in a legal manner.
Industry News
The U.S. SEC, Tron Foundation and Justin Sun filed a joint motion on Wednesday, requesting a federal judge to suspend the lawsuit against Justin Sun and his company Tron. This motion is similar to the SECs request for suspension in the Coinbase and Binance cases, and the three parties said they are working hard to find a potential solution. The SEC sued Tron, Justin Sun and BitTorrent in July 2023, accusing them of market manipulation, fraud and issuing unregistered securities. The SEC claimed that Justin Sun manipulated the trading volume of TRX tokens through wash trading, and Tron employees conducted more than 600,000 wash trades in total. The judge in the case had previously rejected the SECs request for Tron to submit an additional response. (CoinDesk)
SEC drops investigation into Gemini, decides not to pursue enforcement action
Cameron Winklevoss, co-founder of Gemini, announced that the SEC has closed its investigation into it and decided not to take enforcement action against it. The decision came 699 days after the SEC launched its investigation. While this marks an important victory for the crypto industry, Gemini still said that the SECs actions caused tens of millions of dollars in legal fees and hundreds of millions of dollars in lost productivity and innovation.
Circle and Tether diverge on U.S. stablecoin regulation
Circle and Tether have different views on the regulation of stablecoins in the United States. Circle CEO Jeremy Allaire believes that there should be no free pass and that stablecoins pegged to the US dollar should be registered and operated in the United States. At the same time, Tether CEO Paolo Ardoino claims that USDT is the most successful tool for US dollar hegemony and distribution in emerging markets, and believes that the real intention of its competitors is to kill Tether.
Oklahoma’s Strategic Bitcoin Reserve Act (HB 1203), which has passed a House committee and entered a full vote, would allow up to 10% of public funds to be invested in BTC or digital assets with a market value of more than $500 billion.
Project News
pump.fun official X account was stolen, users should be aware of the risks
The official X account of pump.fun was stolen and the fraudulent token PUMP was released. Users should pay attention to the risks.
Ethereum Foundation: Will Donate $1.25 Million for Legal Defense of Tornado Cash Developers
The Ethereum Foundation officially announced that it will donate $1.25 million for the legal defense of Tornado Cash developer Alexey Pertsev, and stated that privacy is normal and writing code is not a crime.
BTS will tokenize the copyright of hit singles through Story Ecosystem RWA Protocol Aria
Story Ecosystem IP RWA Protocol Aria announced that it will acquire and tokenize part of the copyright of BTS and Steve Aokis collaborative single The Truth Untold. This move will introduce one of the worlds most influential music works into the on-chain RWA IP ownership field.
Ethena will expand to the MoveVM ecosystem, and ENA staking users can receive 5% of Echelon airdrops
Ethena officially announced that it will expand to the MoveVM ecosystem and will take the lead in cooperating with Aptos and Movement ecosystem projects Echelon. From today, sENA holders (ENA stakers) will begin to automatically accumulate Echelon reward points and will share 5% of the Echelon token airdrop in the future.
Jupiter founder Meow published a long article, expounding on the future development plan and long-term strategy of JUP tokens. Meow proposed to take the GOAT framework (governance, transparency, organic, and synergy) as the core, and announced three key measures: First, an independent auditing agency will be commissioned to conduct a comprehensive audit of the founders, vaults, and tokens. All results will be announced through the new official website jup.com to enhance transparency. Secondly, the Litterbox Trust Fund will be established, promising to inject 50% of the protocol revenue into the fund in the next two years for the strategic accumulation of JUP. Finally, Meow proposed the 2030 incentive plan, voluntarily using the 280 million JUP held by individuals for new team incentives, and promised not to receive any tokens before 2030. Whether he can finally obtain the 500 million JUP reward will depend entirely on the communitys vote on his performance of duties.
Meteora said in a post on X that the events of the past few weeks have been a severe test of the platforms resilience. Looking forward to the future, Meteora will continue to empower users, developers, and LPs. Meteora emphasizes that LPs are the core of the protocol. In order to enhance the synergy between Meteora and LPs, additional communication/feedback channels will be added to support more community-led initiatives and ensure that the community has a say in shaping the future of Meteora. On the basis of the existing LP incentive proposal, Meteora will continue to improve the existing points system to fairly reward all LPs.
Investment and Financing
Crypto wallet Phantom acquires token data platform SimpleHash
Crypto wallet Phantom announced the acquisition of token data platform SimpleHash. The specific acquisition amount has not been disclosed. This is Phantom’s third acquisition in recent months after Blowfish and Bitski. Phantom declined to comment on the exact number of SimpleHash employees and the number of employees who will transition to Phantom. (TheBlock)
ZKP technology startup Ligero has completed a $4 million seed round of financing, led by Galaxy Ventures and 1kx, with participation from Franklin Templeton, Nascent, Anagram, Robot Ventures, Digital Currency Group and ZKV. It is reported that the company started this round of financing in March 2024 and ended in July 2024, with a valuation cap of $20 million. There is currently no plan to launch a token. (TheBlock)
Crypto gift card platform Raise completes $63 million financing, led by Haun Ventures
Raise, an encrypted gift card platform, announced the completion of a $63 million financing, led by Haun Ventures, with participation from Paper Ventures, Selini Capital, GSR and Raj Gokal, co-founder of the blockchain Solana. The company declined to disclose the valuation of this financing. (Fortune)
Characters Voices
Standard Chartered: Don’t rush to buy the bottom, Bitcoin may drop to $80,000
The price of Bitcoin fell to around $86,000 on Tuesday, the lowest level since November last year, and fell more than 20% from its all-time high in January. As risk aversion in the market intensified, the expected surge in cryptocurrencies due to Trumps inauguration failed to materialize. Data from JPMorgan Chase showed that cryptocurrency ETFs saw outflows of $544 million last week, indicating that market pessimism is spreading. Geoff Kendrick, head of digital asset research at Standard Chartered Bank, warned: Dont rush to buy the bottom. Bitcoin may fall to a low of $80,000. $90,000 is a key support level for Bitcoin, and a break below this level could cause the worlds largest cryptocurrency to fall further. Although Bitcoin has remained above $90,000, supported by optimism about the Trump administrations support for cryptocurrencies, the appeal of cryptocurrencies has been weakened as the presidents promises have not been fulfilled and macroeconomic uncertainty has increased. (thecryptobasic)
According to the on-site follow-up report by Odaily reporters, at the ongoing ETH DENVER summit, Donald Trump Jr., a member of the Trump family and co-founder of World Liberty Finance, expressed his views on the future of crypto regulation and decentralized finance (DeFi). He pointed out that the biggest challenge facing the US crypto industry is regulatory ambiguity, emphasized the need to establish a clear regulatory framework to lead financial innovation, and called for financial democratization through technology. Donald Trump Jr. criticized the current regulatory policies of the US crypto industry as almost predatory, believing that excessive intervention and opaque law enforcement have led to a large number of corporate outflows. He called on the US government to form a regulatory team that truly understands the crypto industry and formulate reasonable and predictable rules, rather than being led by technical illiberal decision makers. In addition, Donald Jr. also elaborated on the mission of World Liberty Finance, which is to introduce traditional assets such as treasuries and real estate to the chain through blockchain technology to create highly liquid and low-threshold financial services. The project has reached cooperation with well-known protocols such as Chiliz, Tron, and Ondo Finance, aiming to bridge the gap between traditional finance and DeFi.
Regarding the future of DeFi, Donald Jr. emphasized its practical breakthrough role and suggested that novices participate in it by small entry and continuous learning. The vision of World Liberty Finance is to achieve financial democratization, provide ordinary people with accessible financial tools, and promise to make all operations transparent.
CZ: Safe’s response to the Bybit theft was vague, and many questions were not clearly explained
Binance co-founder CZ posted on the X platform that he usually does not criticize other industry players, but the incident report released by Safe uses vague language to cover up the problem. After reading it, there are more questions than answers, including: What does hacking the Safe {Wallet} developer machine mean? How did they hack this particular machine? Is it social engineering, viruses, etc.? How does the developer machine access the account operated by Bybit? Some code is deployed directly from this developer machine to the production environment? How did they trick the Ledger verification step among multiple signers? Is it a blind signature? Or did the signer not verify correctly? Is $1.4 billion the largest address managed with Safe? Why dont they target others? What can other self-custodial, multi-signature wallet providers and users learn from this?
CryptoQuant analyst: It is not possible to conclude that BTC price has bottomed out yet
Julio Moreno, head of research at CryptoQuant, said on social media that it is not possible to say that the price of Bitcoin has bottomed out now, as all valuation indicators have entered the adjustment range, a process that may take more time. For example, MVRV is below its 365-day moving average (each break below takes time to adjust).
Greeks.live macro researcher Adam published an English community briefing saying that group members are generally bearish because Bitcoin has plummeted from more than $100,000 to a low of $80,000, which traders describe as crisis contagion. Key watch prices include the critical support level of $86,000. If it falls below this level, many people believe that there will be a vacuum zone below to the $72,000-77,000 range, and some members even expect that it may fall further to $65,000. The market experienced a single-day drop of $6,000, accompanied by a large number of forced liquidations, resulting in major losses for most traders in the group, with some reporting losses of 5-6 figures. Several traders believe that this round of selling is controlled and may come from a stealth large seller who needs to complete the sell-off before any meaningful rebound can occur. Despite the bleak market, some members are cautiously looking for a range that may form between $85,000 and $90,000, seeing $89,000-91,000 as a level that may provide some breathing space if it can be recaptured.
