Important information last night this morning (March 5-March 6)
Reprinted from panewslab
03/06/2025·1M
According to Fox Business News reporter Eleanor Terrett, acting chairman of the Commodity Futures Trading Commission (CFTC), Caroline Pham, said that the U.S. Securities and Exchange Commission (SEC) and CFTC staff are discussing and collaborating on digital assets and other matters. "We have restarted staff-level dialogue between the CFTC and the SEC. We hope to work together. We have worked very well in the past and I look forward to returning to normal," Pham said at the "Financial Technology Future Symposium" held by the Milken Institute in Washington, D.C. "SEC Commissioner Hester Peirce agreed. Pham also mentioned that the cooperation with David Sacks, the White House head of cryptocurrency affairs, and the White House "was very smooth". Peirce added: "It's a good thing to have a White House dedicated to the clarity of cryptocurrency regulation. The SEC's cryptocurrency task force has begun to identify areas that are not part of our responsibilities. It's important to clarify what the SEC's responsibilities are and what is not. People affected by the rules should have a place in the rulemaking process."
According to minutes of the Securities and Exchange Commission (SEC) Cryptocurrency Working Group meeting, on March 5, 2025, the Cryptocurrency Working Group staff met with representatives of Circle Internet Financial, LLC, and representatives of WisdomTree Digital Management, Inc. and its affiliates to discuss ways to solve problems related to crypto asset supervision. Circle and WisdomTree respectively provide the included files that were discussed during the meeting.
The latest list of White House crypto summit attendance includes CEOs of Crypto.com and Ripple
According to the latest list of attendees at the first White House crypto summit counted by the X platform by Crypto KOL "The Wolf of All Streets", in addition to the previously disclosed executives of Coinbase and Robinhood, the latest industry personnel confirmed to attend include Crypto.com CEO Kris Marszalek and Ripple CEO Brad Garlinghouse. The White House officials confirmed to attend include Bo Hines (Executive Director of the President’s Digital Assets Committee), David Sacks (Head of Artificial Intelligence and Cryptocurrency Affairs), Mark Uyeda (Acting Chairman of the SEC in the United States), and Caroline Pham (Acting Chairman of the U.S. CFTC). Unconfirmed attendees included: Cathie Wood (CEO of ARK Invest), Vitalik Buterin (Co-Founder of Ethereum), Jeremy Allaire (CEO of Circle), Paolo Ardoino (CEO of Tether), Anatoly Yakovenko (College of Solana), Marc Andreessen (Co-Founder of a16z, Early Ripple Investor). Unconfirmed White House officials included Howard Lutnick (US Secretary of Commerce), Scott Bessent (US Secretary of Treasury), and Pam Bondi (US Secretary of Justice). According to sources who have signed a White House to the United States, Cardano co-founder Charles Hoskinson was not invited to attend the White House crypto summit on March 8.
U.S. Commerce Secretary Says Trump Will Reveal BTC Reserve Strategy at White House Encryption Summit
According to The Pavlovic Today, U.S. Commerce Secretary Howard Lutnick revealed that Trump will announce the strategic reserve plan for Bitcoin (BTC) at the White House crypto summit, marking a major change in U.S. crypto policy. Trump said the plan will promote the United States to establish cryptocurrency reserves and mention assets such as XRP, SOL, and ADA. Additionally, Bitcoin may gain special status, while other crypto assets will be subject to different but aggressive regulation. The policy is part of Executive Order 14178, aiming to establish the United States as the global leader in digital finance and reverse the strict regulatory stance during the Biden administration.
Argentine prosecutor applies for freezing $100 million cryptocurrency raised in LIBRA sales
According to Decrypt, the chief prosecutor in charge of investigating Argentine President Javier Milei's alleged involvement in the LIBRA scandal has requested the freezing of about $100 million in crypto assets related to the case and the recovery of deleted social media posts, including Milei's tweets promoting Solana-based Meme coins. Prosecutor Eduardo Taiiano also requested detailed records of the LIBRA transaction.
According to TASS, the Russian Ministry of Finance and the central bank are discussing the launch of local cryptocurrency transactions under the experimental legal framework, which are limited to the participation of "ultra-high qualification" investors. The specific standards for this category are still being formulated. Officials from the Ministry of Finance said that if an agreement is reached on the experimental system, investor qualification standards and risk control, a formal plan may be submitted to the government. The discussion is still taking place between the Ministry of Finance, the central bank and market participants. Previously, Putin signed a law in August 2024, allowing cross-border payments and cryptocurrency transactions under the experimental legal framework from September 2024, with the central bank responsible for the regulatory authority.
Texas Strategic Bitcoin Reserves Act on Intent Agenda is to be considered soon
According to Bitcoin Magazine, the Texas Strategic Bitcoin Reserves and Investment Act has been included in the intent agenda and is expected to be reviewed today. The bill has been reviewed by the Commerce and Trade Commission and has been released from the committee with a vote of 10 votes in favor and 0 votes against, entering the next legislative stage.
OpenAI plans to launch an AI Agent with a monthly fee of 145,000 yuan
According to Jinshi's recruitment by The Information, OpenAI plans to charge US$20,000 (about RMB 145,000) per month for AI Agents that reach the doctoral level. These "doctoral level" AI Agents can handle complex tasks in the fields of academic research and software development. It is reported that OpenAI plans to launch three types of AI Agents, which may charge between $2,000 and $20,000 per month.
US judge rejects Musk's request to block OpenAI's transformation to for-profit entities
According to foreign media reports, a California judge in the United States rejected Musk's request to prevent OpenAI from transforming into a for-profit entity. The latest court documents show that Musk's other lawsuits against OpenAI can continue.
UK CMA launches investigation into the merger of OpenAI with Microsoft
UK Competition and Markets Authority (CMA): Investigation on the merger of OpenAI and Microsoft (MSFT.O) has started.
Elixir launches the empty investment grid inspection page and announces token economics
Modular liquidity network Elixir announced on the X platform that the ELX empty investment space check page is online, and users, community members and selected DeFi power users can now view their allocations. ELX provides consensus and governance for the Elixir network, with 41% of the supply left to the community (8% first quarter airdrop, 21% future airdrop/LP reward, 12% public cybersecurity reward), 22% to the DAO Foundation, 3% to liquidity, 15% to investors, and 19% to core contribution value. ELX holders can run their own validator or delegate tokens to help protect the network and receive network security rewards. The airdrop receiver will automatically delegate to the Elixir Foundation validator - these tokens can be withdrawn at any time. Users who continue to hold the commission during the initial stability phase will receive a network stability bonus within three months.
MegaETH: No airdrop rewards will be provided to users participating in the test network
MegaETH issued a statement on the X platform saying that the project will not provide airdrop rewards to users participating in the public test network. The main purpose of the public test network is to conduct technical stress testing, allow developers to explore new technological breakthroughs, and allow users to experience real-time applications for the first time. MegaETH emphasized that although they do not object to the points-based incentive model, this does not conform to the project's philosophy. Previous news, MegaETH will deploy the test network on March 6 and will accept users to join on March 10.
Coinbase is restarting plans to tokenize its COIN stocks and other securities in the U.S.
Coinbase is re-pushing tokenize its stock COIN as part of a broader effort to bring securities tokens to the U.S. market, Crypto Briefing reported. The company first tried the move in 2020 but gave up due to regulatory hurdles. With the establishment of the newly formed cryptocurrency task force of the US SEC, the company sees new opportunities to integrate blockchain-based securities into traditional finance. Coinbase Chief Financial Officer Alesia Haas expressed optimism about regulatory progress at the Morgan Stanley TMT meeting. “I now believe that our U.S. regulators are looking for product innovation and want to move forward,” Haas said. Haas revealed that Coinbase initially plans to list through issuing securities tokens representing its COIN stock, in line with its vision to integrate blockchain into traditional finance. Coinbase CEO Brian Armstrong highlighted the potential benefits of tokenized securities, saying they can provide consumers with the ability to trade 24/7.
According to The Block, lending protocol Aave is planning to create a savings product called "sGHO" around its native stablecoin GHO and the new "Aave Savings Rate". This move is part of the on-chain stablecoin expansion of fiat-anchored token functionality and usage scenario trends, while providing benefits to holders. Similar products include MakerDAO's "savings USDS" and Noble's USDN. A “temporary inspection” governance proposal reads: “Aave’s GHO stablecoin has grown strongly during 2025 and is currently the 20th largest stablecoin. Despite strong growth so far, growth from 200 million to over 300 million will face a different set of challenges that require a different approach.” According to the proposal submitted by Aave Chan Initiative, sGHO aims to be “a low-risk savings product.” Similar to many interest-bearing stablecoins, sGHO will serve as a supplementary asset to "staked tokens" to protect the protocol. The deposited GHO will be locked in the sGHO contract instead of being re-collateralized to "minimize risk". The savings rate will be partly determined by the number of sGHOs minted by the user – the larger the holding base, the lower the return or the additional financial support is required. In particular, Aave savings rate will be linked to native returns generated by the "USDC native returns" of Aave V3 on the Ethereum main network. In addition, users do not need to pay deposit and withdrawal fees. "As a revenue product, creating friction through expenses will reduce the attractiveness of the product, making sGHO at a disadvantage in the market compared to similar products." The proposal states that sGHO is "most similar" to Sky Ecosystem's sUSDS product. sGHO appears to be part of a series of initiatives aimed at expanding the GHO user base, including a proposal to use stablecoins as “Gas tokens across different blockchains” to expand Aave’s “GHO cross-chain strategy.” The temporary inspection was passed by a 100% vote two days ago. Similarly, there are other individual proposals aimed at extending GHO to the Fluid ecosystem, Arbitrum and other ecosystems.
Bitwise applies to US SEC to launch Aptos ETF
According to CoinDesk, Bitwise has submitted documents to apply to launch an ETF that tracks the price of Aptos (APT) in the Aptos network native token. The asset manager had revealed the trend last week when it filed an application to create a Delaware Trust entity for the proposed Aptos ETF. On Wednesday, Bitwise filed the S-1 document with the U.S. Securities and Exchange Commission (SEC), officially launching the program. The S-1 document is a necessary step for a company to issue new securities and list on a public stock exchange. To launch such funds, the asset management company will also need to file 19b-4 documents to indicate that the relevant stock exchanges need to make necessary rule changes, which also means that the SEC will face strict approval deadlines.
Canary Capital applies to US SEC to launch ETF tracking cross-chain protocol Axelar
According to CoinDesk, Canary Capital, a digital asset-focused investment company founded by former Valkyrie Funds co-founder Steven McClurg, is planning to launch an ETF that tracks the price of Axelar (AXL). The company filed S-1 documents with the U.S. Securities and Exchange Commission (SEC) on Wednesday, launching the process to launch such funds. The hedge fund has previously submitted documents for several other ETFs. Some of them have been confirmed by the SEC and are awaiting approval. Axelar is a cross-chain protocol connecting blockchains that has been integrated by major players such as JPMorgan Chase, Microsoft, Uniswap and MetaMask, and former Coinbase legal director Brian Brooks joins Axelar's new institutional advisory board.
Coinbase will launch Renzo(REZ) tokens
Coinbase Assets announced on the X platform that Coinbase will add support for Renzo (REZ) on the Ethereum (ERC-20 token) network. Do not send this asset through other networks, otherwise the funds may be at risk of loss. If liquidity conditions are met, trading will start at or after 01:00 Beijing time on March 7, 2025. Once the asset is sufficient, trading of the REZ-USD trading pair will be initiated in stages.
Robinhood US launches Arbitrum (ARB)
According to Robinhood US, Robinhood will launch Arbitrum (ARB).
Ethereum Foundation: Sepolia testnet Pectra upgrade has been fixed
According to the official blog of the Ethereum Foundation, the Pectra network upgrade has been launched on the Sepolia test network, but due to problems with Sepolia's licensed deposit contract, some execution layer clients cannot include transactions in the block. This issue is limited to Sepolia test network configuration and will not affect the Ethereum main network. The team quickly determined the cause and started the repair. The verifier deployed the patch at 14:00 UTC and the network restored normal throughput. All Sepolia node operators must upgrade the execution layer client to maintain network compatibility, and the official has provided the corresponding updated version.
Chicago trading giant Jump is fully resuming its U.S. crypto business, which has accelerated its trading layout and expanded recruitment after shrinking regulatory uncertainty over the past two years, according to people familiar with the matter. Although Jump continues to conduct crypto trading and market making around the world, trading volume in the U.S. market is recovering, prompting Jump to return to the market. The company plans to recruit crypto engineers and add policy and government affairs positions to adapt to the new regulatory environment. Previously, Jump was under regulatory scrutiny for the Terra Luna and FTX crashes, laying off nearly half of its employees and splitting the Wormhole project. In the future, Jump may enter the US crypto ETF market, paying particular attention to the Solana (SOL) ecosystem. The market expects that Solana ETF may be approved.
Ripple fundes $50 million to launch NCA to promote crypto education and popularization
According to The Block, the National Cryptocurrency Association (NCA), established by Ripple funded by $50 million, was officially launched to help Americans better understand the crypto industry through educational platforms. NCA provides encryption knowledge resources, video tutorials, practical guides, etc., and plans to carry out national promotion activities, community activities and courses, and will release a survey report on 10,000 US crypto holders this month. Data shows that 21% of Americans may have used cryptocurrencies, and 76% believe cryptocurrencies have a positive impact on their lives. Although NCA was founded by Ripple, the organization said it is not attached to any particular company or engages in political lobbying, with the goal of promoting objective, neutral crypto education that will help widespread adoption of the crypto industry.
According to CoinDesk, people familiar with the matter revealed that startup DoubleZero Foundation completed a $28 million financing with a valuation of $400 million, led by Dragonfly and Multicoin Capital. DoubleZero Foundation is currently looking for a "strategic partner" to seek more strategic financing at a valuation of $600 million, and the strategic financing is not over yet. According to reports, DoubleZero is building a "new type of Internet" to improve blockchain performance, with its vision to build a global private optical cable network and then use these optical cables to enable blockchains to transmit data more efficiently than on the public Internet. The project is seen as a key technology for Solana to achieve its grand plan to process one million transactions per second. DoubleZero is opening its licensed testnet to Solana validators and RPC, and plans to gradually expand to other chains. Its optical cable network is connected to dedicated lines operated by Jump Crypto, RockawayX, Distributed Global, Latitude and Terraswitch, and is accepting more contributors.
Pond.fun Chief Engineer Steals Liquidity and Transfers 64.8ETH
According to Pond.fun's official disclosure, the Meme coin Launchpad Pond.fun on Linea was hacked this morning. The attacker was Genesis, the project's chief software engineer, who has stole liquidity from the smart contract and sold tokens, transferring a total of 64.8 ETH to the privacy protocol Railgun. Pond.fun warns users to avoid interacting with their official websites, efrogs and croak websites to prevent further security risks. Chainalysis and Elliptic have been contacted to ensure that the hackers cannot pass the Proof of Innocence (POI) review and are working with the Linea team to investigate the incident.
Celo mainnet will be upgraded to Ethereum L2 on March 26
According to Celo's official news, Celo will officially activate the Ethereum L2 main network at 11:00 on March 26, 2025 (Beijing time), with a hard fork block height of 31057000. After the upgrade, the block time will be shortened from 5 seconds to 1 second, while retaining the complete on-chain history to ensure network transparency. In addition, this upgrade reduced 365,000 lines of code, reduced the technical burden, and supported trustless upgrades to make node operations more efficient.
According to CoinDesk, Animoca Brands' full-year revenue in 2024 was US$314 million, a year-on-year increase of 12%, of which the consulting business revenue was US$165 million, a year-on-year increase of 116%, surpassing the traditional Web3 business. Web3 business (game and NFT) revenue fell to US$110 million, a year-on-year decline of 40%, reflecting the company's transformation to consulting services such as token economy, listing consulting, node operations, etc. In addition, investment income and administrative expenses contributed US$39 million. The latest year-end financial report shows that the company has cash and stablecoins reserves of US$293 million, digital assets are US$538 million, and on-chain token reserves are US$2.9 billion. Although the portfolio increased to 540 companies, the scale of private equity investment fell 18%, from $690 million to $564 million, mainly due to token unlocking, equity exits and asset impairment.
The number of ADP employment in the United States in February was 77,000, the smallest increase since July last year, with an expected 140,000 people, compared with the previous value of 183,000.
Ceffu wallet deposits approximately $62 million in ETH to Binance via an intermediate address
The data on the chain shows that a few minutes ago, 28,000 ETHs were transferred from the Ceffu wallet to the unknown wallet. The unknown wallet address then transferred 27,978 ETHs (about $62 million) to the Binance Exchange. At present, the unknown wallet address still holds about 9,273 ETH, and the Ceffu wallet holds about 282,600 ETH (worth about 630 million US dollars).
Mt. Gox transfers 11833.64 BTC to an unmarked wallet
According to OnchainLens monitoring, 21 minutes ago, Mt. Gox had transferred 11833.64 BTC (worth $1.07 billion) to an unmarked wallet.
According to Spot On Chain monitoring, World Liberty Financial, a Trump family crypto project (WLFI), has once again started buying ETH, WBTC and MOVE. Early this morning, it transferred 25 million USDC to a new multi-signature wallet and purchased: 4468 ETH (about $10 million, unit price of $2,238), 110.6 WBTC (about $10 million, unit price of $90,420), and 3.42 million MOVE (about $1.5 million, unit price of $0.439). There are 3.5 million USDC left in the new wallet.
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