- CEX Hot Coins
CEX Trading Volume Top 10 and 24-Hour Price Changes:
ETH: + 1.08%
BTC: - 0.32%
SOL: - 3.56%
OM: - 3.16%
IP: - 12.03%
DOGE: - 1.54%
TRUMP: - 3.08%
KAITO: - 0.51%
XRP: + 0.41%
SUI: - 1.72%
24H Price Increase Ranking (Data Source: OKX):
NC: + 23.36%
GLM: + 18.73%
BZZ: + 12.57%
SWFTC: + 9.87%
PRQ: + 8.36%
S: + 8.04%
AYCTION: + 7.81%
NMR: + 7.30%
CVC: + 6.64%
ARKM: + 5.28%
- 24H Trending Coins
BAN, an art Meme coin, surged last weekend;
PI, an established "community coin," has launched on exchanges like OKX;
KAITO, airdrop has started, has been listed on exchanges like Binance.
Headlines
Bybit: Deposits and Withdrawals Have Fully Returned to Normal Levels
Bybit announced on the X platform that deposits and withdrawals on Bybit have fully returned to normal levels, as confirmed by on-chain data.
NEXUS Testnet II Has Been Closed, Developer Network System Coming Soon
According to official news, NEXUS Testnet II was closed at 4:00 AM today, and a developer network operating system is planned to be launched soon, including: Devnet OS, Devnet chain, and Devnet explorer.
Andre Cronje Unveils Sonic's 25-Year Vision, Including Fee Subsidies and Dynamic Fees
Andre Cronje posted on the X platform that Sonic's vision for this year is quite simple: fee monetization (90% of fees will go into the application, not to validators and MEV), fee subsidies (eliminating the fee barrier for users), dynamic fees (applications can set fees for users), native economy, and account abstraction (no need for wallets or fees).
Argentine Senate Requests Government Report on LIBRA Scandal
The Argentine Senate passed a motion with 46 votes in favor and 15 against, requesting the government to provide a report related to the LIBRA scandal. Meanwhile, the Senate rejected the proposal to establish an investigative committee, as it received support from 47 senators but did not reach the 48 votes needed to initiate the process. At the same time, the proposal to establish a parliamentary committee to investigate the scandal was rejected. This proposal received support from 47 senators, but 48 votes are required to initiate the procedure.
Industry News
Wall Street Journal: CertiK Confirms Bybit Incident as Largest Theft in Crypto History
The Wall Street Journal cited Web3.0 security firm CertiK's view that the Bybit theft incident is the largest single theft in crypto history, with stolen assets valued at over $1.4 billion due to this hacking attack. Following the incident, Bybit announced that it has reported the case to the relevant authorities, and its CEO Ben Zhou stated that all functions and products of Bybit are still operating normally, and the exchange is solvent and will fully cover customer losses. As of now, all withdrawal requests from Bybit have been processed, and the withdrawal system has returned to normal speed.
Franklin Templeton Has Submitted Spot Solana ETF S-1 Filing to the SEC
According to information from the U.S. SEC website, Franklin Templeton has officially submitted the S-1 filing for a spot Solana ETF to the U.S. Securities and Exchange Commission (SEC).
FTX creditors' representative Sunil posted on the X platform that a large number of bankruptcy claims come from jurisdictions that do not qualify for FTX distribution, including: Russia, China, Egypt, Nigeria, and Ukraine. Among them, the number of users from China is the largest, accounting for 8% of FTX's total user base. FTX is reviewing relevant solutions.
Canary Litecoin Spot ETF Listed on DTCC Website, Code LTCC
According to the DTCC website, the Canary Litecoin spot ETF has been listed on the DTCC website with the code LTCC, and the creation/redemption section shows D. Although this move does not indicate that the ETF has received any regulatory approval or any explicit approval process results, listing on the DTCC website is part of the "standard process" for launching a new ETF.
Recently, the Grayscale XRP ETF application and four other Solana ETF applications from last week were entered into the U.S. Securities and Exchange Commission (SEC) federal register. The Solana ETF applications from VanEck, 21Shares, Bitwise, and Canary Capital were submitted on February 18. The entry of the applications will trigger a 21-day public comment period, and regulators are expected to decide on approval, rejection, or further review by October 18. If approved, the XRP ETF will provide users with a regulated investment exposure tool for XRP. XRP has increased over 381% in the past 12 months and is currently under scrutiny due to legal and regulatory improvements. Recent recovery drivers include rumors that U.S. banks may use it for internal transactions and speculation about the SEC's long-term litigation stance against Ripple. The SEC sued Ripple in December 2020, alleging that it raised $1.3 billion through unregistered XRP sales and classified it as a security based on the Howey test. Arthur Azizov, CEO of the crypto payment solution B2BINPAY, stated, "The XRP ETF is very likely to be launched within the year, depending on the speed of resolution of the legal disputes with the SEC."
Utah Bitcoin Reserve Bill Enters Second Review in the Senate
Legislation allowing Utah to invest in Bitcoin has been passed by the state Senate committee. The HB230 "Blockchain and Digital Innovation Amendment" bill was passed by the Utah Revenue and Taxation Committee on February 20 with a vote of 4-2-1 and is currently undergoing second and third readings before the final Senate vote. The Bitcoin reserve bill has already passed the House, so if it is approved in the Senate, Utah Republican Governor Spencer Cox only needs to sign the bill for Bitcoin to become a state reserve asset. (Cointelegraph)
Project News
Cross-chain bridge Chainflip responded to Bybit CEO's request, stating: "We have tried to handle the current situation, but as a decentralized protocol, we cannot fully stop, freeze, or redirect any funds. However, we have currently closed some front-end services to prevent the flow of funds." Previously, Bybit CEO Ben Zhou posted on the X platform stating that hackers were attempting to transfer BTC through Chainflip. They hope Chainflip can help Bybit stop and prevent further asset transfers to other chains.
BinaryX Officially Renamed to Four, BNX Tokens Will Be Exchanged for FOUR at a 1:1 Ratio
According to official news, BinaryX has officially been renamed to Four: all BNX token holders can exchange their BNX tokens for the new Four tokens at a 1:1 ratio. It is reported that this renaming received unanimous support from BNX holders during a community vote held from September 21 to 23, 2024.
Kaito founder Yu Hu posted on the X platform stating: Staking rewards are now live, with approximately 10% of tokens staked and an annualized yield of about 70%. It is expected to return to normal in the coming days. Any locked tokens (including those from investors/foundations/teams) cannot participate in staking; rewards currently come from liquidity incentives, but starting next week, this will become a net outflow due to network fees. More information about the staking feature will be released. Some users have already noticed a HODL score, which will increase voting rights for Kaito Connect—this is just one aspect, as Genesis NFT holders and KAITO token stakers will always have priority access to everything we do at Kaito.
Bithumb: Service Will Be Suspended for About 6 Hours on February 24 for Internal System Upgrade
According to the official announcement, Bithumb has announced that it will conduct an internal system upgrade from 1:00 AM to 7:00 AM (total of 6 hours) on February 24, 2025, during which all platform-related services (Bithumb APP/mobile web/PC/API) will be suspended. The service maintenance time may end early or be delayed. This operation is conducted in accordance with Article 17, Paragraph 1, Item 1 of the Enforcement Decree of the South Korean Virtual Asset User Protection Act.
CoinList to Launch Obol Token Sale, 30% Discount Compared to Recent VC Round Investment
CoinList will launch the Obol token sale at 1:00 AM Beijing time on February 25, offering a 30% discount compared to the recent VC round investment. For general users: FDV is $125 million, token price is $0.25, with 33% unlocked 6 months after TGE, followed by linear unlocking over 12 months. For wstETH or weETH holders: FDV is $115 million, token price is $0.23, with 33% unlocked 6 months after TGE, followed by linear unlocking over 12 months. Users need to hold at least $20 worth of wstETH or weETH on CoinList between 1:00 AM on March 4, 2025, and 1:00 AM on March 11, 2025, to enjoy the lower price and FDV. The purchase limit for both options is a minimum of $100 and a maximum of $250,000. Users who are not selected for allocation will receive funds in their CoinList wallet by 1:00 AM on March 13, 2025.
Investment and Financing
Tokenized Social Network ResearchHub Completes $2 Million Financing, BoostVC Participates
The tokenized social network ResearchHub announced the completion of a new round of financing totaling $2 million, with participation from BoostVC. The new funds will further utilize its ResearchCoin (RSC) tokens to incentivize scientists to openly share academic content and build decentralized scientific collaboration and publishing tools to facilitate research cooperation, feedback, and knowledge sharing among researchers.
The crypto privacy data layer Primus officially announced on the X platform that it has completed a total of $6.5 million in Pre-Seed and Seed round financing, led by Dispersion Capital, Symbolic Capital, and VanEck, with participation from Samsung Next, Alchemy, Maelstrom, and others.
Infinity Ground Completes $2 Million Seed Round Financing, Participated by Animoca Brands
Infinity Ground announced the completion of $2 million in seed round financing, with investors including Animoca Brands, MARBLEX, MH Ventures, Frachtis Ventures, KuCoin Ventures, KnightFury, Presto Labs, and Pakafund. It is reported that Infinity Ground is a project of the MVB accelerator jointly organized by YZi Labs, BNB Chain, and CoinMarketCap. The project provides Web3 creators with no-code capabilities to build, deploy, and monetize AI applications through its Agentic IDE (Intelligent Development Environment) and IDK (Intelligent Development Kit), aiming to make "Text to App" a reality. The platform supports multi-chain interoperability, including mainstream blockchains such as Base, BNB Chain, and Kaia, relying on Infinity Ground's own ING Network and Initia's Interwoven Stack technology to provide robust infrastructure support.
People & Voices
Coinbase Co-Founder: Settlement Reached with SEC, Lawsuit Expected to Be Fully Withdrawn
Coinbase co-founder Brian Armstrong posted on the X platform stating that Coinbase has reached a settlement with the SEC, and the lawsuit is expected to be fully withdrawn, with no fines to be paid and no changes to its business. This outcome proves that Coinbase's decision to fight the SEC in court was correct, despite initial doubts. Key points include: the SEC overstepped its statutory authority by demanding the delisting of non-security assets; compromising could harm the U.S. crypto industry and force it to move overseas; this struggle is crucial for protecting customer and industry rights and is a fight against government overreach. Armstrong expressed pride in challenging the SEC's decisions, and they plan to continue working with the SEC to advocate for clearer crypto regulations.
In response to community concerns about "Binance employees not being allowed to trade," Binance founder CZ posted on the X platform stating that Binance (CEX) has always restricted employees from trading. This is, of course, to protect users. However, the downside is that product managers may not fully understand user needs. CZ stated, "I can't manage this anymore; let their management decide. On the (BNB) Chain, they should indeed experience the product. I might try some new tokens later."
Insiders: Hong Kong Regulators Discussing Launching Crypto ETF Staking
After the release of the new industry roadmap, it has been reported that Hong Kong regulators may launch staking services for crypto exchange-traded funds and other advanced products (such as derivatives trading). Haiyang Ru, Chief Risk Officer of HashKey Group, stated, "We are actively discussing the introduction of ETF staking and tokenized money market funds with the Hong Kong Securities and Futures Commission, as well as launching an 'earn' feature in parallel with spot trading." Previously, the Hong Kong Securities and Futures Commission announced 12 new measures on Wednesday, including exploring the possibility of new token listings, margin trading, derivatives, staking, borrowing, and lending in the crypto industry. (TheBlock)
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