In the coming week from February 24, 2025, to March 2, 2025, there are several blockchain news items worth your attention.
News Preview:
- Ethereum plans to activate the Pectra upgrade on the Holesky testnet on February 24.
- $FX will be renamed to $PUNDIAI on February 25, implementing a 100:1 supply reduction.
- VitaDAO: Plans to launch a new token on Pump Science on February 25.
- The U.S. Senate Banking Committee on Digital Assets will hold its first hearing on February 26, discussing the theme of "Exploring a Bipartisan Legislative Framework for Digital Assets."
- Optimism (OP) will unlock approximately 31.34 million tokens at 8:00 AM Beijing time on February 28, representing 1.93% of the current circulation, valued at about $36.7 million.
- Arkham Exchange will offer spot trading to users in 17 U.S. states starting March 1.
- Sui (SUI) will unlock approximately 22.97 million tokens at 8:00 AM Beijing time on March 1, representing 0.74% of the current circulation, valued at about $77.6 million.
- Kanye stated that all coins on the current market are fake and will launch his own coin next week.
February 24
Exchanges:
Binance will delist AMB, CLV, STMX, and VITE on February 24
Binance announced that it will delist and stop trading the following spot trading pairs at 11:00 AM (Beijing time) on February 24, 2025: AMB/USDT, CLV/BTC, CLV/USDT, STMX/TRY, STMX/USDT, and VITE/USDT. All open orders will be automatically canceled after trading stops. From 11:00 AM (Beijing time) on February 25, 2025, deposits of the relevant tokens will no longer be credited to user accounts, and withdrawal services will continue until 11:00 AM (Beijing time) on April 24, 2025.
Bithumb: Plans to suspend services for about 6 hours on February 24 due to internal system upgrades
Bithumb announced that it will conduct internal system upgrades from 1:00 AM to 7:00 AM (6 hours) on February 24, 2025, during which all Bithumb services (Bithumb APP / mobile web / PC / API) will be suspended. The maintenance time may end early or be delayed. To protect customers with open orders, orders may be canceled, so please cancel buy/sell orders as much as possible before the service check.
CME plans to launch cash-settled options for Bitcoin Friday futures on February 24
The Chicago Mercantile Exchange (CME) announced plans to launch cash-settled options linked to its Bitcoin Friday futures on February 24, pending regulatory approval. Giovanni Vicioso, CME's global head of cryptocurrency products, stated that the smaller scale of these new options contracts and their daily expiration design provide market participants with more capital-efficient tools to adjust their Bitcoin exposure. Since its launch in September last year, Bitcoin Friday futures have had a contract size of only 1/50 of a Bitcoin, smaller than the "nano" Bitcoin futures (1/100 of a Bitcoin) launched by Coinbase. To date, the product has accumulated over 775,000 contracts traded, with an average daily trading volume of about 9,700 contracts.
Project Updates:
Latest Ethereum ACDE Meeting: Plans to activate Pectra upgrade on Holesky testnet on February 24
Christine Kim, Vice President of Research at Galaxy, summarized the 203rd Ethereum Core Developer Execution (ACDE) conference call, where developers confirmed the timeline for the Ethereum public testnet upgrade, planning to activate the Pectra upgrade on the Holesky and Sepolia testnets on February 24 and March 5, respectively. If the public testnet upgrade goes smoothly, Pectra is expected to go live on the Ethereum mainnet around April 8. Additionally, developers discussed a proposal by Beiko to lock the scope of the Fusaka upgrade, planning to freeze the scope of Fusaka before the Pectra upgrade goes live. Beiko also suggested extending the time for developers to submit EIP proposals to ensure that all parties' opinions are fully discussed and integrated.
February 25
Project Updates:
CoinList will launch Obol token sale on February 25
CoinList announced that it will open the Obol token sale at 1:00 AM (Beijing time) on February 25, offering a 30% discount compared to the last round of VC investment. Obol is the foundation of an L1 blockchain and decentralized infrastructure network. Sale details are as follows: For regular users: FDV is $125 million; token price is $0.25; 33% unlock after TGE, followed by linear unlock over 12 months. For wstETH or weETH holders: FDV is $115 million; token price is $0.23; 33% unlock after TGE, followed by linear unlock over 12 months; users need to hold at least $20 worth of wstETH or weETH on CoinList from 1:00 AM on March 4 to 1:00 AM on March 11 to enjoy the lower price and FDV.
The purchase limit for both options is a minimum of $100 and a maximum of $250,000. After the subscription period ends, users who are not selected for allocation will receive funds in their CoinList wallets by 1:00 AM on March 13. This public sale is not available to users in the U.S., China, Canada, and certain other jurisdictions.
$FX will be renamed to $PUNDIAI on February 25, implementing a 100:1 supply reduction
$FX will officially be renamed to $PUNDIAI at 10:00 AM (GMT+8) on February 25, 2025. This upgrade will be conducted automatically or manually based on the blockchain where the token is located. $FX on Pundi AIFX Omnilayer (formerly f(x)Core) will be automatically upgraded, including both staked and non-staked tokens. $FX on the Base chain and Ethereum network will require a manual upgrade, and the upgrade page will be provided later, allowing users to bridge $FX back to Pundi AIFX Omnilayer for automatic upgrading. Centralized exchanges participating in this upgrade will provide automatic upgrades; please pay attention to the exchanges for specific times.
BNB Smart Chain (BSC) will undergo a Pascal hard fork. The fork is scheduled to take place on the testnet on February 25, 2025, with the mainnet planned for mid-March 2025. The Pascal hard fork enhances BSC's compatibility with Ethereum by integrating key features of the Ethereum Pectra upgrade.
VitaDAO: Plans to launch a new compound experimental token on Pump Science on February 25
Longevity research DAO VitaDAO announced on platform X that it plans to launch a new compound experimental token on Pump Science on February 25, with supplement pre-orders and market release on March 25.
Token Unlocks:
AltLayer (ALT) will unlock approximately 240 million tokens at 6:00 PM Beijing time on February 25, representing 9.41% of the current circulation, valued at about $11.6 million.
February 26
Policy and Regulation:
U.S. Senate Banking Committee on Digital Assets plans to hold its first hearing on February 26
The U.S. Senate Banking Committee on Digital Assets announced that it will hold its first hearing on Wednesday, February 26, discussing the theme of "Exploring a Bipartisan Legislative Framework for Digital Assets."
February 27
Exchanges:
Upbit: NFT services will be suspended for 2 hours on February 27
South Korean cryptocurrency exchange Upbit announced that due to planned database maintenance, NFT services will be suspended for 2 hours from 6:00 AM to 8:00 AM on February 27, during which deposits and withdrawals of Ethereum and Polygon-based NFTs will not be possible. Depending on market conditions, this maintenance may be postponed or canceled.
Kraken will completely shut down its NFT market on February 27, focusing on other projects
Cryptocurrency exchange Kraken stated in a statement that it will close its NFT market to reallocate resources to upcoming projects. After November 27, 2024, users will no longer be able to list, bid, or sell items on Kraken's NFT market; they will only be able to withdraw assets. The market will be completely shut down on February 27, 2025. A representative from Kraken stated, "We decided to close our NFT market to shift more resources to new products and services, including upcoming undisclosed plans. Customers have been informed of these changes, and our team will support them in transferring their NFTs to their Kraken wallets or self-custody wallets of their choice."
ZK Nation announced on platform X that since the quorum for voting has been reached, the voting period for ZIP-6 is set to end at 18:15 UTC on February 27. It is reported that this proposal will upgrade the governance contracts and redeploy all governance contracts, including those related to the ZKSYNC protocol upgrade mechanism, namely the protocol UpgradeHandler, which is responsible for executing Ethereum protocol upgrades approved by Token Assembly.
February 28
Policy and Regulation:
The Central Bank of Brazil (BCB) has announced a regulatory proposal to prohibit centralized exchanges from allowing users to withdraw stablecoins to self-custody wallets. According to the public consultation notice, the transfer of stablecoins (referred to as "tokens priced in foreign currency") between residents will be restricted in cases where Brazilian law already permits payment in foreign currency. This move is part of the cryptocurrency regulatory bill approved in December 2022, which designates the BCB as responsible for establishing rules for the country's crypto industry. The public consultation will last until February 28, 2025, during which market participants can share their opinions with the regulators. However, the BCB can override opinions and act as described in the document.
Project Updates:
The decentralized ride-hailing app Teleport on the Solana chain announced on platform X: "The platform is about to shut down, which is not the desired outcome, but we are very grateful to this community and everyone who believes in the vision and is passionate. Unfortunately, we have not found a way to make this business operate normally. A more detailed analysis explaining the reasons for this decision will be released in the future, but for now, we are focused on an orderly shutdown. The Teleport app will support the transfer of any remaining USDC balances and the export of user private keys until February 28, 2025."
Metaplanet will be included in the MSCI Japan Index on February 28
Simon Gerovich, CEO of the Japanese listed company Metaplanet, stated that Metaplanet will officially be included in the MSCI Japan Index after trading ends on February 28, 2025. The MSCI Japan Index, compiled by Morgan Stanley Capital International (MSCI), covers large and mid-sized companies in Japan and is an important reference for global institutional investors.
Token Unlocks:
Optimism (OP) will unlock approximately 31.34 million tokens at 8:00 AM Beijing time on February 28, representing 1.93% of the current circulation, valued at about $36.7 million.
March 1
Exchanges:
Arkham Exchange will offer spot trading to users in 17 U.S. states starting March 1
Arkham Intelligence announced that its exchange, Arkham Exchange, will begin offering spot cryptocurrency trading to users in 17 U.S. states starting March 1. Arkham announced this move last November, following the launch of its USDT-based perpetual contract exchange. Spot trading will be available to users in Colorado, Hawaii, Indiana, Iowa, Kansas, Michigan, New Hampshire, New Jersey, South Carolina, Tennessee, Utah, Virginia, Wyoming, Wisconsin, California, Massachusetts, and Montana.
According to monitoring by @ai_9684xtpa, 11.2 million SOL (valued at approximately $2.06 billion) from the FTX bankruptcy auction will unlock on March 1, 2025. Previously, FTX sold a total of 41 million SOL through three auctions, with the main buyers and their returns as follows:
- Galaxy purchased 25.52 million SOL at $64 each, with a return of 187%;
- Pantera and other buyers purchased 13.67 million SOL at $95 each, with a return of 93%;
- Figure and other buyers purchased 1.8 million SOL at $102 each, with a return of 80%.
Token Unlocks:
Sui (SUI) will unlock approximately 22.97 million tokens at 8:00 AM Beijing time on March 1, representing 0.74% of the current circulation, valued at about $77.6 million.
ZetaChain (ZETA) will unlock approximately 44.26 million tokens at 8:00 AM Beijing time on March 1, representing 6.48% of the current circulation, valued at about $15 million.
dydx (DYDX) will unlock approximately 8.33 million tokens at 8:00 AM Beijing time on March 1, representing 1.14% of the current circulation, valued at about $6.7 million.
Sleepless AI (AI) will unlock approximately 18.21 million tokens at 8:00 AM Beijing time on March 1, representing 14.01% of the current circulation, valued at about $5.1 million.
March 2
Exchanges:
OKX announced that it plans to officially delist the GFT/USDT and GFT/USDC trading pairs from 5:00 PM to 5:30 PM (UTC+8) on December 3, 2024. The GFT deposit service will be suspended at 4:00 PM (UTC+8) on December 2, 2024, and will not be reopened thereafter. Additionally, GFT withdrawal services will be suspended at 4:00 PM (UTC+8) on March 2, 2025. Users are advised to complete asset processing before 4:00 PM (UTC+8) on March 4, 2025, to avoid losses.
Specific timing to be determined
DeepSeek will open source 5 code repositories next week
DeepSeek announced today that it will gradually open source 5 code repositories over the next week, with new content unlocking daily to further share new progress. DeepSeek stated that the modules of the current online service have been tested and are fully deployed, ready for production. The company defines itself as a small company and stated that each share will become a powerful momentum, accelerating the journey of industry development. It emphasized that there is no ivory tower in this field, only the pure garage entrepreneurship spirit and the innovative power built by the community.
Kanye: All coins on the current market are fake, and he will launch his own coin next week
American producer and rapper Ye (Kanye West) tweeted that all Ye-related memes on the current market are fake, and he will launch his own coin next week. He later tweeted, "YEEZY is committed to creating a real currency. No matter which field I enter, I will learn from the best and treat their life's work with the utmost respect."
According to X user @afhasbara, Kanye sold the publishing rights of his X account for $20 million to @barkmeta before the cryptocurrency launch, with his agent John Monopoly taking a 15% fee. The cryptocurrency tweets attributed to Kanye that are currently seen are clearly not posted by him.
Microsoft is preparing for OpenAI's latest model, with GPT-4.5 expected to be released as early as next week, and GPT-5 anticipated to be released in late May. The updated GPT-5 will bring significant improvements to the way ChatGPT is used, unifying OpenAI's o series and GPT series models, reducing user confusion in choosing models.
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