GuShiio.com The U.S. House of Representatives of Montana vetoed the “Strategic Bitcoin Reserve” bill;Bybit CEO said it had completely closed the ETH gap; exchange eXch denied allegations of helping the Lazarus Group hacking team launder money;SUI, OP, ZETA and other tokens will be welcomed this week. Large amounts of unlocks, of which SUI unlock value is approximately US$77.6 million.
Today’s top news tips:
1. The U.S. House of Representatives of Montana vetoes the “Strategic Bitcoin Reserve” bill
2. Exchange eXch denies allegations of helping Lazarus Group’s hacking team launder money
3. Pump.fun suspected internal testing of AMM liquidity pool, adding Swap section
4. Bybit hackers have sold 50,700 ETH units, and Bybit is suspected to have bought 157,600 ETH units in the past 2 days
5. Bybit has obtained approximately 446,870 ETH pieces worth approximately US$1.23 billion through loans, whale deposits and purchases
6. Bybit CEO: ETH gap has been completely closed
7. PeckShield: Infini hackers have replaced 49.5 million DAIs with approximately 17,700 ETH
8. Data: SUI, OP, ZETA and other tokens will receive large unlocks this week, of which SUI unlocked value is approximately US$77.6 million
Regulation/macro
Montana House of Representatives vetoes “Strategic Bitcoin Reserve” bill
According to Cointelegraph, the U.S. House of Representatives of Montana voted 41 – 59 to veto the “Strategic Bitcoin Reserve” bill, and many lawmakers feared that the Investment Committee would use taxpayer money to engage in excessive speculation.
According to previous news, the Montana “Strategic Bitcoin Reserve” bill passed the committee review and entered the House of Representatives voting stage.
Georgia proposes second bitcoin reserve bill
According to Cointelegraph, the U.S. state of Georgia has proposed a second Bitcoin Reserve Act (SB228), allowing the state to invest in Bitcoin without any investment restrictions.
Earlier, the U.S. state of Georgia proposed a bill to allow state treasurers to invest in Bitcoin. According to screenshots attached to the media, the bill involves state depositors to require state depositors to allow state treasurers to invest in bitcoin; impose limits on such investments; impose requirements for the safe handling of such assets; prescribe borrowing of such assets; repeal laws that conflict with them, etc.
project dynamics
Bybit hackers have used the cross-chain redemption platform to exchange 37,900 ETH pieces into other assets across the chain
According to monitoring by the chain analyst Ash, Bybit hackers have used a large number of addresses to exchange 37,900 ETH items using cross-chain exchange platforms such as Chainflip, THORChain, LiFi, DLN, and eXch in the nearly 30 hours since they started washing coins yesterday afternoon.(US$106 million) were exchanged across the chain into other assets (BTC, etc.). Bybit hackers currently have 461,491 ETH (US$1.29 billion) at their address, and the total number of ETH they stole from Bybit is 499,395 (US$1.4 billion).
Michael Saylor once again releases information related to Bitcoin Tracker, suspected to disclose information on increasing holdings
MicroStrategy founder Michael Saylor once again released information about Bitcoin Tracker, saying: “I don’t think this reflects what I did last week.” According to previous rules, MicroStrategy always discloses information on increasing its holdings in Bitcoin the day after relevant news is released.
Pumpfun front-end deletes Lazarus related Meme coins
According to Aggr News, Pumpfun front-end has deleted Meme coins related to the North Korean hacker organization Lazarus Group. Previously, Bybit attackers suspected of issuing Meme coins in Pumpfun to launder money. The attacker transferred SOL coins to an address and launched Meme coins.
Bybit: With the assistance of various parties, US$42.89 million in stolen funds has been successfully frozen
Bybit tweeted that through coordinated efforts from multiple parties, it successfully froze $42.89 million in stolen funds in one day. Agencies providing assistance include Tether, THORChain, ChangeNOW, FixedFloat, Avalanche Ecosystem, CoinEx, Bitget, Circle, etc.
Exchange eXch denies allegations of helping Lazarus Group’s hacking team launder money
According to Theblock, non-KYC centralized exchange eXch denied allegations that it was laundering money on behalf of Lazarus Group in a post on the forum. “Holding the opposite opinion is just the view of some people who want the interchangeability and on-chain privacy of decentralized currencies to disappear… These people have long hated decentralized cryptocurrencies.”
Analyst Vxdb pointed out: “Exch[.] Cx is an exchange that does not require KYC, and its ETH trading volume has soared abnormally-20,000 ETH in the past 24 hours, compared with 800 ETH in normal times.” “Their bitcoin reserves are also empty, but their ETH reserves have increased by 900%.”
The eXch team admitted that “a small portion of the funds from the ByBit hack ended up at our address,” but said the transfer was “an isolated case and the only part that our exchange handles.” Later, the eXch team promised to donate the proceeds to “various open source initiatives dedicated to privacy and security inside and outside the encrypted space.”
In another post, the eXch team posted a screenshot showing an email from Bybit employees asking eXch to block certain wallet addresses marked as receiving stolen funds. The team apparently refused the request and accused Bybit of damaging its reputation by labeling deposits from eXch addresses as “high risk.”
Safe Wallet will gradually restore service and add additional security measures over the next 24 hours
Safe Wallet tweeted that its team is working hard to restore service and will gradually restore it in the next 24 hours. The restored Safe Walle will add additional security measures:
- Verification of transaction hashes, data and signatures
- Enhance monitoring alerts
- And temporarily remove the native Ledger integration because Ledger is the signature device/method used in Bybit attacks.
After recovery, users may experience longer transaction times or performance issues due to running additional checks. As always, users are advised to be vigilant when signing transactions and verify that the correct transaction data has been signed.
Pump.fun suspected of internally testing AMM liquidity pool, adding Swap section
According to Aggr News, Pump.fun is suspected to be internally testing the AMM liquidity pool and adding a Swap segment, which may replace Raydium as a third-party supplier.
Bybit hackers have sold 50,700 ETH units, and Bybit is suspected to have bought 157,600 ETH units in the past two days
According to monitoring by Chain analyst Ash, Bybit hackers have sold 50,700 ETH (US$142 million) for DAI and other Chain assets (BTC, etc.), and currently hold 448,600 ETH (US$1.26 billion). In addition, the address suspected to belong to Bybit or its affiliates (0x2E4… b77) Through three brokers, Galaxy Digital, FalconX, and Wintermute, they bought a total of 157,600 ETH units (US$441 million) in the past two days and transferred them to Bybit.
Bybit allegedly bought 266,694 ETH units worth approximately US$742 million after being hacked
According to Lookonchain monitoring, Bybit is suspected to have purchased 266,694 ETH (US$742 million) after being hacked:
- 0x2E45… 1b77 (related to Bybit) purchased 157,660 ETH (US$437.82 million) from Galaxy Digital, FalconX, Wintermute via OTC
- 0xd7CF… A995 (possibly related to Bybit) purchased 109,033 ETH units ($304.12 million) from DEX and CEX
Bybit has obtained approximately 446,870 ETH units worth approximately US$1.23 billion through loans, whale deposits and purchases
According to Lookonchain monitoring, since the hack, Bybit has obtained approximately 446,870 ETH (US$1.23 billion) through loans, whale deposits and ETH purchases. Bybit is currently close to making up for the funding gap caused by hacking attacks.
Bybit CEO: ETH gap has been completely closed
Bybit CEO said that Bybit has fully closed the ETH gap and a new audited POR (Proof of Reserves) report will be released soon.
PeckShield: Infini hackers have exchanged 49.5 million DAIs for approximately 17,700 ETH
According to PeckShield monitoring, Infini hackers have replaced 49.5 million DAIs with approximately 17,700 ETH pieces and moved them to the new address 0xfcc8a… 6e49。
Founder of Infini: The personal private key was not leaked, it was an oversight when transferring authority before
Christian, founder of Infini, tweeted: “A friend joked that my journey was too smooth. I said that I was always ready for the first disaster, but I didn’t expect that the accident would be me immediately after bybit. The personal private key was not leaked. It was due to negligence when transferring authority before. In the final analysis, it was his own responsibility. This time, it sounded the alarm. There is no problem with liquidity at present, and we can pay in full. The funds are being traced.”
Quotes: Raydium (RAY) fell 24.7% in 24 hours
Or influenced by the news that Pump.fun added Swap section, the market showed that Raydium (RAY) fell 24.7% in 24 hours and is now trading at US$3.21.
Previously, Pump.fun is suspected to be internally testing the AMM liquidity pool and adding a Swap segment, which may replace Raydium as a third-party supplier.
Binance will adjust the settlement frequency of BANUSDT U-standard perpetual contract fund rates at 16:00 today
According to an official announcement, Binance will adjust the settlement frequency of BANUSDT U-standard perpetual contract fund rates at 16:00 on February 24 (East Eighth District Time). The fund rate settlement frequency will be adjusted from once every four hours to once every two hours. The maximum funding rate range remains unchanged between +3.00% and-3.00%.
Bybit: The mETH Protocol team successfully recovered 15,000 cmETH tokens worth approximately US$43 million
Bybit tweeted that the mETH Protocol team provided crucial assistance in recent security incidents. Through rapid action and effective coordination, the mETH Protocol team successfully recovered 15000 cmETH tokens worth approximately US$43 million.
Founder of Infini: Since the theft to the present, withdrawal requests have totaled US$500,000, and all responses have been made.
Christian, founder of Infini, tweeted that since the theft to the present, withdrawal applications have totaled US$500,000, and all have been responded to, and there are even many wallets that continue to deposit money. At present, all product consumption and withdrawal are as usual. The only thing affected is the financial management part (because the contract has been suspended and funds have not been transferred to prevent secondary risks). It takes a certain amount of time to propose and implement a more appropriate plan.
views
Matrixport: Hidden buying in Bybit theft may help ETH rebound
Matrixport analysis pointed out that in the Bybit theft incident, buying was hidden or helped ETH rebound. The focus of market attention is on the theft of nearly 500,000 ETH units in Bybit, but what is really noteworthy is its impact on the market. Bybit needs to buy back ETH to replenish wallet funds, while hackers need to be cautious about subsequent operations.
From past experience, stolen funds are usually not sold immediately, that is, short-term selling pressure or limited. At the same time, the market has added potential demand for 500,000 ETH units, and currently only about 100,000 ETH units are reported to be repurchased. The imbalance between supply and demand may push ETH prices upward. Given that prices are showing signs of stabilizing, we are optimistic about the current trend.
important data
The Ethereum Spot ETF had a weekly net inflow of US$1.61 million last week, and only Fidelity Ethereum ETF FETH achieved a weekly net inflow
Bitcoin Spot ETF had a net outflow of US$559 million last week, and only VanEck Bitcoin ETF HODL achieved a weekly net inflow
Data: SUI, OP, ZETA and other tokens will receive large unlocks this week, of which SUI unlocked value is approximately US$77.6 million
Token Unlocks data shows that SUI, OP, ZETA and other tokens will receive large unlocks this week, including:
- Sui (SUI) will unlock approximately 22.97 million tokens at 8 a.m. Beijing time on March 1, with a ratio of 0.74% to current circulation and a value of approximately US$77.6 million;
- Optimism (OP) will unlock approximately 31.34 million tokens at 8 a.m. Beijing time on February 28, with a ratio of 1.93% to current circulation and a value of approximately US$36.7 million;
- ZetaChain (ZETA) will unlock approximately 44.26 million tokens at 8 a.m. Beijing time on March 1, with a ratio of 6.48% to current circulation and a value of approximately US$15 million;
- AltLayer (ALT) will unlock approximately 240 million tokens at 6 pm Beijing time on February 25, with a ratio of 9.41% to current circulation and a value of approximately US$11.6 million;
- Dydx (DYDX) will unlock approximately 8.33 million tokens at 8 a.m. Beijing time on March 1, with a ratio of 1.14% to current circulation and a value of approximately US$6.7 million;
- Sleepless AI (AI) will unlock approximately 18.21 million tokens at 8 a.m. Beijing time on March 1, with a ratio of 14.01% to current circulation and a value of approximately US$5.1 million.
As of 2025, encryption companies and sports organizations have reached 22 partnerships, with an average value of US$4.3 million
According to Theblock, collaboration between cryptocurrency companies and sports organizations is increasing, ranging from Formula 1 team sponsorship to football, mixed martial arts and even snooker. Cryptocurrency exchanges such as Coinbase, Gate.io and XBO.com, stablecoin issuer Tether, and cryptocurrency betting websites Sportsbet.io and Cloudbet have all recently signed important partnerships with sports organizations.
According to the Financial Times, citing data from marketing agency SportQuake, 22 deals have been concluded so far in 2025, with an average value of $4.3 million, compared with 18 deals in the same period last year, with an average value of $2.6 million.
Notable partnerships include Tether’s acquisition of a minority stake in Italian football team Juventus, worth approximately $50 million.
Coinbase recently reached a partnership with Aston Martin’s Formula One racing team, Aston Martin Aramco, in an agreement that was paid entirely in stablecoin. The value of the transaction has not been disclosed. Coinbase’s logo appears on the team’s recently launched AMR25 car.
Gate.io has also signed a deal with Oracle Red Bull Racing, whose logo will appear on the team’s cars, racing suits and the helmet of four-time world champion Max Verstappen.
Cryptocurrency exchange XBO.com recently signed a cooperation agreement to become the official global sponsor of Argentina’s national football team in 2025. XBO will launch special promotions, rewards and marketing activities featuring the team’s athletes.
Other notable partnerships include Sportsbet.io ‘s naming agreement with the Snooker Players Championship, and a multi-year agreement between crypto casino Cloudbet and the mixed martial arts organization the Professional Fighting League.
Data: Since 2025, Circle has cast 8 billion USDCs on the Solana chain
According to Spot On Chain monitoring, Circle’s total casting volume in the past seven days has reached 1 billion USDC pieces. So far in 2025, Circle has cast 8 billion USDC in Solana, including 6 billion in January and 2 billion in February.
According to previous news, USDC Treasury has cast 250 million new USDC units on the Solana chain.
The wallet suspected to belong to Sandbox deposited 8 million SAND pieces into Binance about 10 minutes ago
According to The Data Nerd, 10 minutes ago, 8 million SAND (approximately US$2.7 million) were deposited into Binance in the wallet 0xx73f (which may belong to Sandbox). Last month, the wallet also deposited 8 million tokens with Binance, before the price fell 33%. Currently, the wallet still holds 8 million SAND (approximately US$2.7 million).
