GuShiio.com The US SEC has determined that Meme coins are not securities and investors must bear their own risks.
Author: Shenchao TechFlow
yesterdaymarket dynamics
us stocksFalling:NASDAQClosed down 2.78%, the seven top U.S. stocks collectively plunged, and Nvidia fell more than 8%
According to Jin Shi, U.S. stocks fell sharply again on Thursday. The S & P 500 index closed down 1.59%, the Nasdaq Composite Index closed down 2.78%, and the Dow Jones Industrial Average closed down 0.45%. The top seven U.S. stocks fell collectively, and their market value evaporated by nearly US$550 billion. Among them, Nvidia turned from a 2% opening rise to a closing decline of more than 8%, and their market value evaporated by more than US$270 billion in a single day.
Morgan Stanley’s Quantification and Derivatives Strategies division warned that the S & P 500 index has fallen below the important medium-term CTA liquidation trigger level of 5887 (closed at 5,861.57 on Thursday), and expects macro systemic strategies to need to sell more than $40 billion in stocks in the coming week, most of which come from CTA, as triggers for U.S. equity futures begin to flip. It is expected to sell at least $12.6 billion and $58 billion in the following week and month, respectively.
Market sentiment has deteriorated sharply, with the latest sentiment survey by the American Association of Individual Investors showing that investor sentiment has become extremely bearish. Expectations that share prices will fall over the next six months surged more than 20 percentage points to nearly 61 percent in the week ended Wednesday. JPMorgan data showed that retail investors sold $1.1 billion in stocks in the first two hours of trading on Monday, the largest outflow of funds in a single day since the outbreak of the epidemic in March 2020.
Analysts pointed out that concerns about shrinking growth and trade uncertainty triggered by Trump’s policies are hitting stocks, killing the momentum trade that had previously driven markets higher. The S & P 500 index has fallen 0.3% in 2025, and another 1.4% decline will erase all gains since Trump was elected.
Deribit: Judging from the data and indicators, the market has officially turned from bull to bear, and it is not optimistic in the short term
According to Lin Chen, head of Asia-Pacific business at Deribit, according to data and indicators, the market has officially turned from a bull market to a bear market. The short-term outlook is not optimistic and will face greater selling pressure when it rebounds. However, in the long run, she is still optimistic that when the macro environment (including tariffs, inflation, interest rate cuts, geopolitical conflicts and breakthroughs in artificial intelligence technology) improves, the Bitcoin market will rise again.
As an industry practitioner who holds money, Lin Chen plans to continue to hold Bitcoin in the next few months, gain income by selling call options, and purchase a small amount of forward put options to increase spot positions.
Data: Seven of the 16 popular Bitcoin miners have exceeded the shutdown price, with the lowest shutdown price being US$51,617
Bitdeer data shows that when the bitcoin price is US$84,859.69, 7 of the 16 popular bitcoin miners have touched or exceeded the shutdown price. Among them, the shutdown price of Shenma Mining Machine M53s is US$83,878.96, which is already in a critical state, with only US$0.17 in daily income. Six mining machines, including Shenma Mining Machine M50, Ant S19pro water-cooled version, Ant S19j Pro, Ant S19 Pro, Shenma Mining Machine M30S ++ and Ant S19, are no longer profitable at all, accounting for more than 110%.
Among the mining machines that remain profitable, the Ant S21 water-cooled version has the lowest shutdown price, at US$51,617.82, accounting for 60.72% of the electricity bill; the shutdown price of the A2 water-cooled version and A2 standard version of the Seal Mining Machine is US$53,230.88, accounting for 62.61% of the electricity bill; the shutdown price of Shenma Mining Machinery M63S and M60S is US$59,683.11, accounting for 70.20% of the electricity bill.
Crypto trading platform BitMEX is seeking buyers and has entrusted investment banks to assist with the sales process
CoinDesk reports that BitMEX, a cryptocurrency exchange and derivatives trading platform co-founded by Arthur Hayes in 2014, is seeking buyers. According to people familiar with the matter, the established exchange, which made perpetual futures the most popular product for leveraged traders, commissioned boutique investment bank Broadhaven Capital Partners to assist in the sales process at the end of last year.
BitMEX pleaded guilty in 2020 to charges of failing to implement adequate anti-money laundering measures. After criminal charges were filed in the United States, Hayes and co-founders Ben Delo and Samuel Reed resigned as CEO. Both BitMEX and Broadhaven declined to comment on the acquisition plans.
Recently, mergers and acquisitions have been active in the crypto derivatives sector, with major exchanges Kraken and Coinbase rumored to be bidding for leading crypto options exchange Deribit, while FalconX also acquired Arbelos Markets earlier this year to expand its derivatives business.
Argentine President Milei was punished for promoting Libra incident FBI investigation
According to Bitcoin.com News, Argentine President Javier Milei is under investigation by the FBI for his previous promotion of a failed cryptocurrency project called Libra on social media. The report pointed out that the Libra project is associated with unregistered companies and lacks necessary compliance measures.
Mask Network founder: Wallet on his mobile phone was hacked 3 hours ago or stolen at a birthday partyprivate key
Suji Yan, founder of Mask Network, posted that today is his birthday. About three hours ago, a public wallet carried on his mobile phone was hacked and more than $4 million in assets were stolen.
Suji Yan said all stolen transactions appeared to be manual and lasted for more than 11 minutes. So either the private key was leaked on his birthday, or it could have been an offline attack.
Suji Yan said he was at a private party with more than a dozen friends, and when he went to the bathroom to wait, his mobile phone left for a few minutes. Suji Yan said he believed in his friend, but this was a nightmare for anyone. He has contacted Slow Fog and ZachXBT to assist in the investigation.
In the United States, the number of initial jobless claims in the week ending February 22 was 242,000, and the expected number was 221,000. The previous value was revised to 220,000.
According to Jin Chao, the number of people applying for unemployment benefits in the United States for the week ending February 22 was 242,000, and the expected number was 221,000. The previous value was revised from 219,000 to 220,000.
US Senate Digital Assets Subcommittee’s first hearing focuses on stablecoin regulation
According to CoinDesk, the U.S. Senate Banking Committee’s first digital assets subcommittee held a hearing on February 27, focusing on stablecoin regulation and the digital asset legislative framework, chaired by Republican Senator Cynthia Lummis of Wyoming.
Lummis said in an opening statement: We are at a critical moment in finally creating a bipartisan legislative framework for stablecoins and market structures. quot; She views the bill co-sponsored with Democratic Senator Kirsten Gillibrand of New York as the natural counterpart of the House of Representatives 21st Century Financial Innovation and Technology Act. Tim Scott, Republican of South Carolina, chairman of the Senate Banking Committee, confirmed that stablecoins will be at the top of the committee’s agenda.
Former CFTC Chairman Timothy Massad advised lawmakers to prioritize stablecoin regulations and delay legislation related to market structure for several years. He pointed out: The SEC has dropped enforcement cases and established a cryptocurrency working group to address these issues, and we should let these regulatory initiatives progress rather than rush to rewrite securities laws. quot;Massad warned that existing proposals could create more confusion than clarity, especially when it comes to defining the attributes of digital assets.
US SEC Qualitative Meme coins are not securities and investors need to bear their own risks
According to Jin Shi, the U.S. Securities and Exchange Commission’s (SEC) Corporate Finance Regulation Division issued guidance on memecoins, saying they are not securities but are similar to collectibles. The department believes that the transactions related to miniin described in the guidance do not involve the issuance and sale of securities under federal securities laws.
As a result, individuals involved in the issuance and sale of minicoins are not required to register their transactions with the Commission under the Securities Act of 1933, nor are they required to comply with the registration exemption provisions of the Securities Act. As a result, buyers or holders of minicoins are not protected by federal securities laws.
Pump.fun officially restores control of the X account, confirming that hacking is limited to social platforms
According to an official statement, the Pump.fun team has successfully regained control of the hacked social media account and confirmed that this security incident was limited to the breach of platform X accounts and did not affect other systems.
According to the officially disclosed investigation results, the team learned that the account was hacked at around 15:20 UTC on February 26, 2025. Despite the team’s strict security measures, including multiple protection measures such as the use of physical security keys, Google two-factor authentication, and regular replacement of complex passwords, the hackers successfully circumvented these defenses.
A survey by online data analyst ZachXBT shows that the attack may have been carried out by the same gang as previous hacking incidents against Jupiter and WIF. The attackers may have used social engineering to deceive X platform employees or used system vulnerabilities to gain account control.
The Pump.fun team specifically reminds users that official accounts and their related personnel will never publish contract addresses or wallet addresses, and calls on the community to verify the authenticity of the information through multiple channels before making any decisions.
Babylon Foundation: Will expand airdrops to all NFT holders
The Babylon Foundation issued an article on platform X stating that Cuneiform Assets Limited has decided to expand the scope of airdrops and that the voice of the community is very important.
Therefore, after extensive evaluation, Cuneiform Assets decided to cancel the pledge history requirement. This means that all NFT holders are now eligible for NFT airdrops, but must comply with all other airdrop eligibility requirements and abide by the terms of the airdrop.
market dynamics
recommended reading
A big inventory of saving losses: The market is not good, which one will have the strongest financial gain in stablecoin in February?
This article discusses the potential and risks of stablecoin financial management as a safe haven in the current downturn in the crypto market, and analyzes in detail the stablecoin financial management opportunities on multiple chains, including income sources, operation methods and potential risks.
IDO over-raised and Binance launched in stock. It’s time to learn about MyShell’s products and token economy
This article mainly introduces MyShell as a BSC-based decentralized AI Agent and application creation platform. Recently, it completed the IDO of the token $SHELL through the Binance platform, overraised by 42 times, attracting widespread attention. The platform provides a modular tool for building AI Agents and an Aipp store. Users can participate in the creation and transaction of AI Agents through tokenization.$ SHELL tokens have multiple uses on the platform, including subscription services, advertising promotion and data transactions, providing a diverse incentive mechanism for creators, users and developers.
Dialogue with Jack Tan, CEO of WOO: Be a decentralized CME and be optimistic about the future AI with DeFi binding
This article is an in-depth interview with WOO co-founder and CEO Jack Tan, discussing WOO’s development vision, product matrix, the combination of AI and DeFi, and the impact of macro policies on the encryption industry. Jack Tan shared WOO’s goals to become a decentralized version of CME and how to promote the development of Web3 through innovation, user needs orientation and AI technology.
Full text of the 2025 dialogue by Trump’s eldest son ETH Denver: Newcomers are advised to enter in small amounts and continue to learn DeFi
This article records Donald Trump Jr. In the ETH Denver 2025 conversation, we discussed the importance of regulatory frameworks, financial democratization, and technological innovation in the cryptocurrency and DeFi fields. He emphasized the United States ‘leadership role in the financial future and shared advice for novice investors and expectations for the future.
Opinion: Crypto does not needexternality
This article explores the current state of the cryptocurrency industry and the challenges it faces, especially regarding the need for externalities and the spending power of users within the industry. The author criticizes the industry’s excessive focus on attracting new users and believes that more attention should be paid to the services and needs of existing users, while pointing out the uniqueness of the encryption industry and the importance of user quality density.
In-depth analysis of the current market: The theft of large amounts of funds has triggered market concerns about the migration of liquidity under the game between major powersresonanceresults
This article describes the recent sharp correction in the cryptocurrency market. The reasons include market concerns and rising risk aversion caused by the theft of large amounts of funds, as well as the impact of intensified geopolitical games among major countries and liquidity migration at the macro level. The article provides an in-depth analysis of the current market micro and macro factors, and discusses the potential impact of the U.S. fiscal deficit, stagflation risks and the trend of the U.S. dollar on the market.
Welcome to join the official social community of Shenchao TechFlow
Telegram subscription group: www.gushiio.com/TechFlowDaily
Official Twitter account: www.gushiio.com/TechFlowPost
Twitter英文账号：https://www.gushiio.com/DeFlow_Intern
