Daily | Trump will announce Bitcoin reserve strategy at White House crypto summit; US SEC agrees to withdraw lawsuit against Cumberland DRW
Reprinted from chaincatcher
03/05/2025·1MCompiled by: Jerry, ChainCatcher
Important information:
- U.S. Commerce Secretary: Trump will announce Bitcoin reserve strategy at White House crypto summit
- Executives from multiple companies including Coinbase, Robinhood confirm to attend Friday's White House crypto summit
- US SEC agrees to withdraw lawsuit against Cumberland DRW
- Blockstream receives billions of dollars in investment and will officially launch three Bitcoin-backed funds on April 1
- Zhao Changpeng: Vitalik is the cornerstone of the crypto industry, and he is still a blockchain learner
- Berachain: Regrets selling too many tokens to VCs and is working to repurchase to reduce the dilution suffered by community shares
- Binance will launch RedStone (RED) spot trading
- The Ethereum Pectra upgrade has been activated on the Sepolia test network and enters the final testing phase
- Zhao Changpeng: I missed the entire "ETH train", but it may have contributed to Binance and BNB
- Solana Labs Early Investor Foundation Capital raises $600 million for its 11th fund
“What important events have happened in the past 24 hours”
U.S. Commerce Secretary: Trump will announce Bitcoin reserve strategy at White House crypto summit
The U.S. Commerce Secretary announced that Trump will announce Bitcoin (BTC) reserve strategy at the White House crypto summit .
Fox Business News reporter Eleanor Terrett said that although the official invitation has not been sent yet, several important industry figures have confirmed that they will attend the cryptocurrency summit held at the White House this Friday.
The guests confirmed to attend the summit include: Strategy founder Michael Saylor, Bitcoin Magazine CEO David Bailey, Paradigm co-founder Matt Huang, Exodus CEO JP Richardson, Multicoin managing partner Kyle Samani, Trump-related crypto project Zach Witkoff, Chainlink co-founder Sergey Nazarov, Coinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev, and Kraken CEO Arjun Sethi.
US SEC agrees to withdraw lawsuit against Cumberland DRW
Crypto trading company Cumberland DRW issued a statement on the X platform saying that it has signed a joint application with the U.S. Securities and Exchange Commission (SEC) to revoke the lawsuit filed by the SEC. The agreement reached an agreement on February 20 on both sides and is currently awaiting approval from the SEC committee.
The SEC sued Cumberland DRW in October last year, accusing it of operating as an unregistered securities dealer and selling more than $2 billion in unregistered securities.
Blockstream, a blockchain infrastructure company, has received billions of dollars in investment and will officially launch three Bitcoin-backed funds on April 1.
Two of the three funds will focus on the Bitcoin lending business: one will underwrite loans that are collateralized by Bitcoin, and the other will use US dollars as collateral for cryptocurrency lending. The third fund will adopt a hedge fund strategy to provide institutions with investment opportunities in the Bitcoin market.
Blockstream said its "institutional-grade Bitcoin Investment Solution" will be available on April 1 and will begin accepting external funds on July 1.
Zhao Changpeng responded to the view that “Vitalik and Zhao Changpeng are two important figures” and said, “Without Vitalik’s contribution, smart contracts, ERC20, NFT, SBT, L2, etc., cryptocurrencies would not be as large as they are today. I am just a civilian who is still learning blockchain.”
"Don't think the criticism is completely wrong. If we could do it again and the team could start from scratch, we might not have sold that much supply to venture capital firms. In fact, most of the supply was sold in the seed round in early 2022.
At that time, we thought this might be an interesting thing, but we didn't expect it to grow to this large scale now. So I think these criticisms make sense. In fact, over time, we have been working hard to repurchase the supply of that part of the seed round and then the A rounds, so that we can minimize the dilution that the community suffers. ”
Binance will launch RedStone (RED) spot trading
Binance will end RedStone (RED) pre-market trading at 09:00 (UTC) on March 6, 2025, and open spot trading at RED/BTC, RED/USDT, RED/USDC, RED/FDUSD and RED/TRY at 13:00 (UTC) on March 6.
Ethereum's upcoming Pectra upgrade was activated on the Sepolia test website around 14:30 Beijing time today.
It is reported that the Sepolia version is the last major release before the main network upgrade is launched, and the main network upgrade is expected to be launched next month. The deployment marks the second phase of Pectra testnet activation, which was launched on the Holesky testnet on February 24.
The Pectra upgrade is named a combination of “Prague” (execution layer changes) and “Electra” (consensus layer update), introducing several changes designed to improve Ethereum’s scalability. If performing well, developers are expected to determine the mainnet activation date during the All-Core Developer (ACD) conference call on March 6, 2025. The potential start time for the mainnet is scheduled to be in early April.
Zhao Changpeng: I missed the entire "ETH train", but it may have contributed to Binance and BNB
Binance founder Zhao Changpeng responded to a question from community users "whether to hold ETH" and said that he did not hold any meaningful amount of ETH, and it may only contain a small amount in some old wallets. This is mainly because BNB needed to pay ETH as fuel fee when it was initially issued as an ERC20 token.
CZ further revealed, "I missed the entire ETH train right in front of me. I met Vitalik at a Bitcoin conference in 2013. I learned about 'ICO' in 2014. In 2015, Vitalik spent a short stay in my small apartment in Tokyo during his trip. My (spicious) suggestion was: 'A Turing-complete language on the blockchain? Wouldn't it be too difficult?' He said: 'This is possible.'
This is a really missed opportunity. But then again, if I had bought ETH so early, I might not have the motivation to start Binance or BNB. ”
Solana Labs Early Investor Foundation Capital raises $600 million for its 11th fund
Silicon Valley venture capital firm Foundation Capital, which has raised $600 million for its Phase 11 fund, is an early-stage investor in Solana Labs and will continue to focus on supporting early-stage startups.
The 30-year-old venture capital firm mainly invests in areas such as cryptocurrency, fintech and artificial intelligence, and said the new fund will continue its tradition of supporting founders before product building or generating revenue, namely providing support at the "zero starting point" stage. Foundation Capital said 80% of its investments occur before the company generates first dollar revenue, “we look for the so-called 'zero-billion dollar market' – opportunities won’t appear in industry forecasts because they are only visible to those who can see outside of their current existence.”
Foundation Capital is one of Solana Labs’ early investors, and has participated in its $20 million Series A round in 2019. Its cryptocurrency portfolio also includes Binance US, OpenSea, MoonPay, Algorand, Stacks, BCB Group, Helius, Jito and Kamino. “We have been investing in blockchain since 2014, free from the severe cold cryptocurrency winter,” the company said.
Foundation Capital’s 11th fund rose 20% from the previous $500 million fund that closed three years ago. "If you are a seed-stage founder working in cryptocurrency, fintech or enterprise AI, come and talk to us," said Rodolfo Gonzalez, a partner at the company.
“What are some great articles worth reading in the past 24 hours”
There was a mess, "I lost my face and lost my money at the same time."
How authentic and practical are they?
Aave is about to join the DeFi dividend army. On March 4, the Aave community proposed a new proposal to update its token economic model, which will not only strengthen its competitive advantage in the liquidity battle, but will also accelerate DeFi's transformation to a sustainable value capture model.
Digging deep into the White House Crypto Summit, who are the 25 mysterious seats?
Based on public information, we listed 7 industry representatives who have identified attendance and 8 likely to attend the White House Crypto Summit in two days.
In the previous issue, we only selected three exchanges, Binance, OKX, and Coinbase. This time we updated the listing rate of Bybit and Upbit, and improved the indicators to achieve better statistical results.
Meme Popular List
According to the market data of Meme token tracking and analysis platform GMGN , as of March 5, 19:50:
The top five popular Ethereum tokens in the past 24h are: LINK, SPX, MKR, ITWT, ONDO
The top five popular tokens in the past 24h are: PIPE, YODA, Sammy, DARKLON, CHAPPY
The top five popular tokens in the past 24h Base are: KAITO , EURC, USDT, BRAIN, USD+
panewslab
jinse