Trump Signs Executive Order to Create Strategic Bitcoin Reserve
According to Jinshi, David Sacks, the head of cryptocurrency at the White House, revealed that Trump signed an executive order to establish a strategic Bitcoin reserve. The reserve will be funded by Bitcoin owned by the federal government, which is confiscated in criminal or civil asset forfeiture procedures. In addition to assets obtained through asset forfeiture procedures, the government will not purchase additional assets for the reserve. The government will not sell any Bitcoin deposited in the reserve. The Secretary of the Treasury and the Secretary of Commerce are authorized to develop budget-neutral strategies to obtain more Bitcoin. The executive order also established the U.S. digital asset reserve. Sacks also said that the U.S. government's premature sale of Bitcoin has cost U.S. taxpayers more than $17 billion in value. The U.S. government owns about 200,000 Bitcoins, and the executive order requires a comprehensive accounting of digital assets held by the federal government. Now, the federal government will develop a strategy to maximize the value of its Bitcoin holdings.
Jinshi explained that the United States has established a Bitcoin war reserve, but will not actively purchase additional Bitcoin ; Fox Business News reporter Eleanor Terrett explained that Trump's executive order established two types of digital asset holding mechanisms . Coinbase executive commented that Trump's latest executive order is expected to reduce $18 billion in Bitcoin selling pressure.
Texas Bitcoin Strategic Reserve Bill Passed by Senate
According to CoinDesk, several U.S. states are increasingly inclined to invest public funds in the cryptocurrency field after President Trump announced plans for the federal government to take similar actions, and Texas has now become one of the leading competitors in this field. On Thursday, the Texas Senate passed SB 21, which will allow the state to invest part of its public funds in digital assets, especially Bitcoin. Texas Lieutenant Governor Dan Patrick issued a letter on the passage of the Texas Bitcoin Reserve Act in the Senate: "Establishing the Texas Bitcoin Reserve is a bold move that other states should follow. I stand on the side of President Trump and hope to make Texas the center of the digital future of the United States." Earlier yesterday, the New Hampshire Bitcoin Bill was passed by the House Committee with an overwhelming advantage. In addition, nearly a dozen states have vigorously promoted the passage of bills allowing similar allocations, while at least five states have encountered setbacks or voted to fail to pass their bills. Utah has been far ahead in various efforts and currently only needs to obtain Senate approval to submit the bill to the governor. However, the legislative session will end this week, leaving the Senate and the state legislature to jointly approve the investment of up to 5% of funds in certain public accounts in digital assets. There is not much time left.
According to Bloomberg, more than two dozen cryptocurrency executives, investors and celebrities will gather at the White House Cryptocurrency Summit tomorrow to plan the future direction of the crypto space under Trump's leadership. People familiar with the matter said the event is likely to become a platform for promoting a number of cryptocurrency-related administrative initiatives, and multiple options are currently under consideration. People familiar with the matter said Trump may announce that the government will stop selling cryptocurrencies confiscated in criminal cases and instead use them to build a national reserve. They also said Trump may issue an executive order to create a real Bitcoin reserve, which is expected to buy more of the digital currency. Another potential proposal would involve the tax treatment of cryptocurrencies and would likely require review and approval by Congress, one of the people familiar with the matter said. These actions are still under discussion and may not ultimately be implemented or may change, the people familiar with the matter said.
Fox Business News reporter Eleanor Terrett released an updated list of this Friday's White House Crypto Summit (there may be more): Garlinghouse (Ripple CEO), Chris Giancarlo (former CFTC Chairman and Willkie Senior Legal Advisor), Nathan McCauley (Anchorage Digital CEO), Kris Marszalek (Crypto.com), Cameron Winklevoss and Tyler Winklevoss (Gemini founders), Vlad Tenev (Robinhood CEO), Arjun Sethi (Kraken CEO), Michael Saylor (Strategy founder), Brian Armstrong (Coinbase CEO), Sergey Nazarov (Chainlink co-founder), Kyle Samani (Multicoin managing partner), Zach Witkoff (Trump-related crypto project World Liberty Financial co-founder), JP Richardson (Exodus CEO), Matt Huang (Paradigm co-founder), David Bailey (Bitcoin Magazine CEO), Raghu Yarlagadda (FalconX CEO), Shayne Coplan (Polymarket CEO). David Sacks, the White House AI and encryption director, commented on the list: "Most of the invitation lists circulating about X are fake, but this one looks real (although it is not yet complete). Please note that the Digital Asset Summit is not a conference, but a roundtable forum. We appreciate everyone's attention, but in order to have in-depth and meaningful exchanges, we need to keep the scale small."
According to the announcement of the Securities and Futures Commission (SFC) of Hong Kong, the virtual asset platform Linkbex is suspected of fraud, falsely claiming to be related to 7 licensed companies in Hong Kong, and some investors reported that their accounts were locked due to the "SFC's anti-money laundering investigation". The Hong Kong police have blocked Linkbex's related websites at the request of the SFC and included the platform in the SFC's warning list of suspicious virtual asset trading platforms on March 6, 2025.
According to The Block, Japan's Liberal Democratic Party (LDP) has drafted a crypto tax reform proposal to reduce the cryptocurrency tax rate from a maximum of 55% to 20%, and reclassify it as a financial product, subject to the Financial Instruments and Exchange Act, similar to the tax model for securities investment. Currently, Japan regards cryptocurrency gains as "miscellaneous income" with a maximum tax rate of 55%. If the proposal is approved, crypto assets may receive independent tax treatment and lay the foundation for spot crypto ETFs. The LDP is soliciting public opinions until March 31, after which it will be submitted to the Financial Services Agency (FSA) for review. The FSA previously announced that it will announce new crypto regulatory directions by June at the latest.
Jito Foundation Contributors Propose New JTO Token Economic Model, Including Potential Buyback
According to The Block, Andrew Thurman, a contributor to the Jito Foundation, proposed a simulation of a new model for the JTO token economics on Thursday, which includes a potential token repurchase plan. The 12-page proposal he prepared is intended to trigger an in-depth discussion on how to expand the utility of Jito governance tokens (it should be noted that this proposal is informal and does not represent the official position of the Jito Foundation, JitoDAO or other relevant parties). Thurman pointed out that as Solana usage grows, the revenue of the protocol and DAO is also increasing. He believes that the community should think about how to best use these revenues rather than just increase the size of the treasury. Although many protocols face a choice between reinvesting in ecosystem growth and distributing it to participants through rewards, Jito can explore a "recycling and reward" strategy. He believes that at the application and infrastructure level, value recovery (reinvesting in ecosystem growth) and value rewards (redistributing or compensating ecosystem participants) are all new design areas, and how to best achieve these two goals remains to be solved.
In terms of “value recovery”, Thurman believes there are two main options: buybacks or flipping a fee switch. Both of these methods are designed to return value to users in a relatively straightforward way. Although the fee switch mechanism is sometimes controversial, it is a simple mechanism to reward value to token holders. Thurman mentioned some running examples such as GMX and Synthetix, but he believes that there are not many crypto projects that have successfully redistributed value through fee switches. In contrast, buybacks have become a popular method for rewarding ecosystem participants, which may be influenced to some extent by the success of buybacks in traditional market mechanisms. However, Thurman pointed out that there is currently no risk-free model or “clear blueprint for success” to reward the community through buybacks. To this end, he proposed two possible “new reinvestment” models: “buyback and barter” and “real yield indicator”. In the buyback and barter model, Jito DAO will use a certain percentage of the fees it earns to “barter” with the DAO of another project in exchange for favorable conditions, and in this way achieve long-term cooperation. Thurman believes that the benefit of the proposal is to remove JTO from the open market and "soft lock" the tokens, thereby avoiding increasing the circulating supply with tokens from the Jito DAO treasury. But he also pointed out that the proposal has counterparty risks.
Coinbase International will launch VVV, COOKIE and BIO perpetual contracts
Coinbase International Exchange announced that it will launch perpetual futures for Venice Token (VVV), Cookie DAO (COOKIE) and Bio Protocol (BIO) at or after 17:30 (ET) on March 13, supporting trading on Coinbase International Exchange and Coinbase Advanced trading platforms.
Binance Finance, One-click Coin Purchase, Flash Exchange, Leverage, Contract Launch RedStone (RED)
Binance announced that it will support RedStone (RED) in multiple product lines, including financial management, one-click coin purchase, flash exchange, leveraged trading and contract trading, starting from 00:00 on March 7 (Eastern Time 8). • Binance Financial Management: RED principal-guaranteed coin-earning current product will be launched at 00:00 on March 7 and open for subscription. • Fixed investment: Starting from 18:00 on March 7, users can invest in RED through the Binance fixed investment platform. • One-click coin buying & selling: Support credit cards, debit cards, Google Pay, Apple Pay, Revolut to buy RED, or use wallet balance to buy and sell RED, which is expected to be available within 24 hours of spot listing. • Flash exchange trading platform: RED is expected to support flash exchange within 24 hours of spot listing, which can be exchanged for BTC, USDT and other tokens, and is free of handling fees. • Margin trading: Binance will open RED borrowable assets for Coinsafe and Isolated Margin trading at 00:20 on March 7, and will launch RED/USDT, RED/USDC, and RED/FDUSD trading pairs. • Contract trading: Binance will launch RED U-margin perpetual contract at 00:00 on March 7, with a maximum leverage of 75 times.
The multi-signature wallet Safe{Wallet} announced that its joint security investigation with Mandiant (now part of Google Cloud) has made key progress and confirmed that the February 21 attack was carried out by the North Korean hacker group TraderTraitor (UNC4899), which has previously launched attacks on the crypto industry many times. Hackers gained critical access by hacking into the computers of Safe{Wallet} developers and hijacking AWS session tokens to bypass multi-factor authentication (MFA). Safe{Wallet} emphasized that although the attack caused a certain impact, the smart contract was not damaged, the system has been fully reset, and more stringent security measures have been implemented, including: • Infrastructure reset: regenerate all credentials, reset clusters, update keys and confidential information, and redeploy container images. • External access restrictions: temporarily block external access to trading services, allow only internal communication, and strengthen firewall rules. • Malicious transaction detection upgrade: cooperate with Blockaid to strengthen transaction monitoring and increase risk markers for Safe account master upgrades. • Real-time monitoring enhancement: improve logging and threat detection capabilities to respond to security incidents faster. • Pending transaction cleanup: Clear all pending transactions in the database to prevent potential security risks. • Optimize UI and security verification tools: Introduce Safe Utils as a third-party transaction verification tool, and plan to provide a Safe{Wallet} version that is fully hosted on IPFS. Safe{Wallet} calls on the Web3 ecosystem to jointly respond to increasingly complex security threats and strengthen the optimization of transaction verification tools to improve user security. The official has released a detailed transaction verification guide and plans to further optimize the user experience to reduce potential risks.
Binance announced that the RedStone (RED) trading originally scheduled to start at 21:00 (Beijing time) on March 6, 2025 will be postponed to 00:00 (Beijing time) on March 7, 2025. Previously, Binance had temporarily postponed the trading launch plan due to the RedStone (RED) project's temporary adjustment of the community airdrop distribution plan.
RedStone adjusts RED airdrop distribution, adding 2% to compensate missed community members
In response to community concerns, RedStone announced adjustments to the selection process and allocation of RED airdrops. RedStone decided to allocate an additional 2% of the total RED supply from the "ecosystem and data providers" on top of the original 5% of the total supply Miner airdrop to compensate for contributors missed in the initial airdrop. Eligibility for the additional airdrop has been re-evaluated, and eligible users will be determined based on the collected proof of participation. The 2% share will be available for collection at 00:00 (Beijing time) on March 7, 2025. In addition, RedStone plans to allocate another 4.5% of RED 6 months after the TGE (September 6, 2025). The total supply is used to support DeFi projects that use RedStone price oracles, and these projects will further distribute it to their ecosystem users. Currently eligible projects include Euler, Gearbox, Pendle, Venus, Fraxlend, Evaa, Angle and many other DeFi platforms. RED transactions are still proceeding normally on various platforms, and RedStone said it will continue to optimize the community incentive mechanism in the future.
Insider: Manus token has nothing to do with the Manus AI Agent product team
According to Blue Whale News, the AI Agent product Manus has recently emerged and attracted widespread attention in the market. But at the same time, a token with the same name has also appeared in the market, which has aroused relevant doubts. In this regard, the reporter learned from an insider close to the Manus AI Agent team that the token with the same name Manus has nothing to do with the Manus AI Agent product team.
According to the World Network announcement, it has launched a new chat feature, World Chat, which runs as a "mini app" within the World App wallet and provides special benefits to users holding World Network digital passports. The design of World Chat is similar to iMessage. The chat bubbles of verified users are displayed in blue with a World ID badge, while the messages of unverified users are gray and have no badge. The chat feature can be used even if the user has not completed the iris scan. In addition, World Network announced a partnership with Alchemy, Bain Crypto Capital, Blockchain Capital and Variant Fund to launch the World Build incubator, which plans to hold hackathons, build camps and Demo Days to encourage developers to build more "mini apps." World Chat will be available on the World App for Android and iOS starting today.
World Liberty Financial and Sui reach strategic reserve cooperation
According to the Sui Foundation, World Liberty Financial (WLFI), a DeFi protocol inspired by US President Trump, announced a strategic partnership with Sui to promote the development of decentralized finance (DeFi). As part of the cooperation, WLFI plans to include SUI tokens in its strategic reserves to support leading Web3 projects.
Lombard Finance to launch its Bitcoin liquid staking token LBTC on Sui blockchain
According to CoinDesk, Lombard Finance announced that its Bitcoin liquid pledge token LBTC will be launched on the Sui blockchain on March 12, marking the first time that LBTC has been integrated into a non-EVM-compatible chain. Currently, LBTC has been deployed on EVM-compatible networks such as Ethereum, Base, and BNB Chain, with a circulation of nearly $2 billion, of which 70% has been used in DeFi protocols such as Aave and Morpho. LBTC will be supported by Sui Wallet and Phantom Wallet, and will first be integrated into Sui protocols with the highest TVL, such as Cetus, Navi Protocol, and SuiLend. In addition, Lombard Finance plans to introduce incentives to encourage Bitcoin adoption in the Sui ecosystem, and hints that it may expand to more non-EVM networks in the future.
According to Brazil Journal, Brazilian technology company Méliuz has invested 10% of its cash reserves in Bitcoin (BTC), becoming one of the first companies in Latin America to adopt Bitcoin as a reserve asset. The company said that this move is part of its long-term strategy, hoping to emulate the success of companies such as MicroStrategy, and is evaluating the possibility of further increasing its Bitcoin holdings in the future.
Bitwise's hybrid Bitcoin and gold ETP product is now available in Europe
According to CoinDesk, asset management company Bitwise launched a Bitcoin and gold exchange-traded product (ETP). The product, Bitwise Diaman Bitcoin & Gold ETP (BTCG), was listed on Euronext Paris and Amsterdam exchanges on Thursday. BTCG tracks the Diaman Bitcoin and Gold Index and can dynamically reallocate assets between Bitcoin (BTC) and gold (Gold) based on Bitcoin's risk-adjusted performance to take advantage of cyclical trends in the market.
Dubai government-owned bank Emirates NBD launches crypto trading service through Liv X
According to CoinDesk, Dubai government-controlled Emirates NBD Bank has launched a crypto trading service through its digital bank Liv, allowing users to buy and sell cryptocurrencies on its new app Liv X. The service is supported by Aquanow, a digital asset platform licensed by the Dubai Virtual Asset Regulatory Authority (VARA), and the custody service is provided by Zodia, which is supported by Standard Chartered Bank.
YZi Labs invests in Tensorplex Labs to advance decentralized AI
YZi Labs announced that it has invested in Tensorplex Labs, a lab dedicated to building decentralized AI applications, infrastructure, and tools. The investment aims to accelerate the combination of AI development and decentralized technology. Tensorplex main products: • Tensorplex Dojo: decentralized AI core infrastructure that integrates human intelligence to train AI and provides rewards to contributors. In the future, Dojo will promote real-time collaboration between humans and machines and create a "human API" in the AI era. • Backprop Finance: A DeFi platform for the Bittensor ecosystem that supports dTAO transactions and analysis, and plans to launch an EVM-based capital solution to promote the growth of the Bittensor subnet economy.
Tether freezes $28 million in USDT held by Russia-sanctioned exchange Garantex
According to Cointelegraph, Tether has frozen about $28 million in USDT, involving Garantex, a Russian crypto exchange sanctioned by the EU and the US. Affected by this, Garantex has suspended all transactions and withdrawals, and announced on its official website that all USDT assets in Russian wallets are at risk. This action follows the 16th round of sanctions against Russia issued by the EU on February 26. Garantex was included in the list due to its close relationship with sanctioned Russian banks. The US Treasury Department imposed sanctions on it as early as April 2022. Garantex responded that it would continue to fight, but did not disclose subsequent countermeasures.
Uniswap's cumulative trading volume exceeds $2.5 trillion
According to Token Terminal data, Uniswap's historical cumulative trading volume has exceeded 2.5 trillion US dollars. Since 2021, Uniswap's trading volume has steadily increased, and this milestone further consolidates its position as the core infrastructure of the DeFi ecosystem.
