GuShiio.com The giant whale that received the most ETH compensation in Genesis Trading’s clearing claims has sold 40,000 ETH in the past two days; more than 95.25 million XRPs were transferred from OKX to unknown wallets, approximately US$236 million;Berachain Joint Venture: Regrets selling too much token supply to VCs and currently hopes to minimize community dilution.
Today’s top news tips:
The White House Encryption Summit will begin at 2:30 am on March 8, Beijing time
U.S. Senate votes to pass bill to repeal IRS cryptocurrency rules, pending House vote
Berachain Joint Venture: Regrets selling too much token supply to VCs and currently hopes to minimize community dilution
Moody’s: Trump tariffs may cause the U.S. economy to stagflation, and the Federal Reserve may raise interest rates
Binance will launch multiple RedStone (RED) spot trading pairs on March 6
The giant whale that received the most ETH compensation in Genesis Trading liquidation claims has sold 40,000 ETH units in the past 2 days
Standard Chartered Bank: Recent price movements of Bitcoin may test support in the US$69,000 -76,500 range
More than 95.25 million XRPs were transferred from OKX to unknown wallets, approximately US$236 million
Regulation/macro
Metaplanet spends 6.616 billion yen to increase its holdings of 497 bitcoins
Japanese-listed company Metaplanet announced that it has invested 6.616 billion yen to increase its holdings of 497 bitcoins, bringing its total holdings to 2888.
The White House Encryption Summit will begin at 2:30 am on March 8, Beijing time
According to Fox Business News reporter Eleanor Terrett, according to the invitation email for the first White House Cryptocurrency Summit, the meeting will last from 1:30 pm to 5:30 pm on March 7 (from 2:30 am to 6:30 am on Saturday, March 8, Beijing time). No other detailed information except the time and place was disclosed in the email. Earlier today, it was reported that executives from several companies including Coinbase and Robinhood confirmed that they would attend the White House Crypto Summit this Friday.
El Salvador President: Bitcoin purchase will not stop due to IMF deal
According to CoinDesk, El Salvador, under the leadership of the country’s President Nayib Bukele, clearly has no intention of stopping accumulating bitcoins, regardless of what the International Monetary Fund (IMF) requests. Bukele posted on platform X saying that El Salvador will not stop accumulating Bitcoin: “When the whole world excluded us and most ‘Bitcoin believers’ abandoned us, it did not stop, and it will not stop now and in the future. Proof of work is greater than proof of complaint.” Shortly after Bucker posted on social media, the International Monetary Fund released more details of its $3.5 billion loan agreement with the Latin American country. The International Monetary Fund claims it has prohibited “voluntary accumulation of bitcoins by the public sector” as part of its lending package. Perhaps in response to an IMF post, El Salvador disclosed late Monday night that it had purchased 19 bitcoins in the past seven days, and then disclosed Tuesday afternoon that it had purchased an additional token on top of that. The government of El Salvador currently holds 6,101.15 bitcoins, worth approximately US$530 million based on Bitcoin’s current price of approximately US$88000.
U.S. Senate votes to pass bill to repeal IRS cryptocurrency rules, pending House vote
CoinDesk reported that on Tuesday, the U.S. Senate, with strong support from many Democrats, successfully passed a resolution aimed at repealing the Biden administration’s cryptocurrency tax rules, which may be the biggest obstacle to eliminating the new IRS broker rule that was originally planned to cover decentralized financial DeFi. The Senate voted 70 – 27 to pass the resolution authorized under the Congressional Review Act to completely repeal the extension of the IRS broker rule. However, the House still needs to pass an identical resolution before U.S. President Trump can sign it into law. Once completed, not only will the rule be completely repealed, but the IRS will also be prohibited from implementing similar policies in the future. The House Financial Services Committee has passed an identical resolution and recommended approval on a full House vote, which is still pending. The White House said earlier today that the president may sign the resolution quickly.
The U.S. Treasury Department imposes sanctions on 49 Bitcoin and Monero addresses related to the closed dark web market Nemesis
According to The Block, the U.S. government disclosed in an announcement that it has added dozens of Bitcoin (BTC) and Monero (XMR) addresses to its entity sanctions list. On Tuesday, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) identified 49 virtual currency addresses used by Iranian national Behrouz Parsarad, who is said to be the administrator of the dark web market Nemesis. A total of 44 Bitcoin addresses and 5 Monero addresses were added to the sanctions list. Parsarad will become the target of international law enforcement operations in 2024. Nemesis reportedly had 30,000 active users before its shutdown and facilitated nearly $30 million worth of drug deals during its three years of operation. OFAC wrote in a statement: “Parsarad makes money by charging Nemesis users a fee per transaction, and OFAC estimates he has earned millions of dollars during his existence in the market. In addition to providing a trading platform for criminals, Parsarad also launder money for drug traffickers and cybercriminals active on Nemesis.” Nemesis provides a range of drugs, personally identifying data, forged documents, ransomware and cybercrime services such as phishing and DDoS tools.
Executives from several companies including Coinbase and Robinhood have confirmed that they will attend the White House Crypto Summit on Friday
Fox Business News reporter Eleanor Terrett said that although the formal invitation letter has not yet been sent, many important industry figures have confirmed that they will attend the cryptocurrency summit held at the White House on Friday. Guests currently confirmed to attend the summit include: Strategy founder Michael Saylor, Bitcoin Magazine CEO David Bailey, Paradigm co-founder Matt Huang, Exodus CEO JP Richardson, Multicoin managing partner Kyle Samani, Zach Witkoff, co-founder of Trump-related crypto project World Liberty Financial, Sergey Nazarov, Chainlink co-founder, Brian Armstrong, CEO of Coinbase, Robinhood CEO Vlad Tenev, and Kraken CEO Arjun Sethi.
US SEC agrees to drop lawsuit against Cumberland DRW
Crypto trading company Cumberland DRW posted on platform X: “Today, we signed a joint document with the U.S. Securities and Exchange Commission (SEC) requesting the lawsuit against Cumberland DRW to be dropped. The document was agreed in principle by Cumberland DRW and SEC staff on February 20 and is currently awaiting committee approval. As a company that firmly upholds the principles of integrity and transparency, we look forward to continuing our dialogue with the SEC to jointly promote a future where technological progress and regulatory clarity coexist and ensure that the United States remains at the forefront of global financial innovation.”
Moody’s: Trump tariffs may cause the U.S. economy to stagflation, and the Federal Reserve may raise interest rates
According to Jin Shi, U.S. President Trump launched an action to impose tariffs on Canada and Mexico. Moody’s chief economist Mark Zandi believes that the U.S. economy may fall into stagflation. Recent data reflects that U.S. consumers and business circles are already worried about the economic outlook and reducing spending. The relevant effect will lead to a significant slowdown in the economy. The tariff effect will cause high inflation, so the U.S. economy may fall into stagflation. If true, it will be the first time in 50 years that the United States has fallen into stagflation. The Atlanta Fed’s GDPNow model shows that the U.S. economy may contract by 2.8% in the first quarter. If true, it will be the first contraction since the first quarter of 2022. Faced with stagflation, the Federal Reserve may raise interest rates, just as former Federal Reserve Chairman Volcker raised interest rates aggressively in the early 1980s to sacrifice the economy to curb inflation.
views
Matrixport: Google Trends shows Solana and BTC are rising in popularity, ETH and Memecoin are close to record lows
According to Matrixport’s latest report, Google Trends data shows that global search popularity for Solana and Bitcoin has increased in the past five years, while the attention of Ethereum and Memecoin has been in a sluggish state, near an all-time low. It is worth noting that Memecoin’s issuance and trading activity dropped sharply after the launch of $TRUMP, while Google Trend Data also reflects extremely low overall interest. TRUMP tokens have fallen 82% from their peak and currently show no significant signs of recovery. The report points out that historically sharp declines in search interest have often been associated with sharp declines in prices, a trend that is particularly evident in the Memecoin space. The analysis recommends that investors should focus on assets whose market momentum is increasing, such as Solana and Bitcoin, rather than assets that are in a downturn.
Berachain Joint Venture: Regrets selling too much token supply to VCs and currently hopes to minimize community dilution
Smokey the Bera, Berachain’s anonymous co-founder, said in an interview with Un Chained: “I don’t think the criticism is completely wrong. If we could do it all over again and the team could start from scratch, we might not be selling so much supply to venture capital firms. In fact, most of the supply was sold during the seed round in early 2022. At the time, we thought it might be an interesting thing, but we didn’t expect it to develop to such a large scale. So I think these criticisms are reasonable. In fact, over time, we have been trying to buy back some of the supply of seed rounds and subsequent rounds such as Series A so that we can minimize the dilution the community suffers from from these shares.”
Dragonfly Partner: Macroeconomic uncertainty will curb token prices, even as crypto market fundamentals continue to strengthen
Dragonfly general partner Rob Hadick shared his views on current macroeconomic and market trends on social media. He believes the Trump administration may deliberately push the economy closer to recession as an excuse to cut welfare, foreign aid, government spending and imports, even though these areas are drivers of economic growth. In addition, he predicted that the government will stimulate the economy through measures such as large-scale tax cuts, quantitative easing (QE), gold visas and manufacturing subsidies in a later period. He pointed out that inflation is the key and the market is divided on expectations for the Federal Reserve to cut interest rates. If economic growth worsens, Federal Reserve Chairman Powell could be forced to cut interest rates, otherwise unconventional monetary easing could occur, but it would push up inflation and risky asset prices. In addition, he mentioned that the deterioration of U.S. relations with allies and policies to support certain regimes may increase the risk of a “black swan event.” Although AI investment will provide support for the market, if companies such as NVIDIA perform weakly, the market may face greater pressure. Regarding the crypto market, he believes that despite the strengthening fundamentals, macroeconomic uncertainty will inhibit token price performance. However, once the macro environment improves, the crypto market may rebound first. He is also optimistic about the rapid growth of stablecoins and recommends adopting a long-term volatility trading strategy under the current uncertainty.
Founder of Bridge Water Fund: Gold is more optimistic than ever, investors need to build a diversified investment portfolio to cope with uncertainty
Dalio, founder of Bridgewater Fund, recently said that the current global monetary system is based on debt, and governments of various countries may lead to the devaluation of their currencies through inflation or low interest rate policies. Investors should consider whether there is an alternative currency that is not dependent on debt and is relatively stable. He believes that Bitcoin may be one of the candidates and may even play an important role in the future, but emphasized that “money is essentially debt” and the real alternative currency still needs further exploration. Dalio pointed out that the advantage of Bitcoin as a safe-haven asset is that it is highly liquid. Unlike real estate, it will not be fixed in a certain place, making it more difficult to be taxed or confiscated. However, he also emphasized that diversity and soundness of investment are more important. When asked about his thoughts on gold, Dalio said he was more bullish on gold than ever, but advised investors to exercise restraint. He believes that the future is full of uncertainty and investors need to build a diversified investment portfolio to cope with it. He suggested a “prudent” gold allocation ratio of 10% to 15%, which would protect and avoid over-reliance on a single asset. He emphasized that reasonable asset allocation is an important strategy to deal with future uncertainty.
Standard Chartered Bank: Recent price movements of Bitcoin may test support in the US$69,000 -76,500 range
Standard Chartered Bank’s Geoff Kendrick expressed concerns about the near-term prospects of Bitcoin and MicroStrategy (MSTR), arguing that Bitcoin prices could face volatility near a key support level. He pointed out that the price range ($69,000 to $76,500) on November 6, 2024 (the day after the U.S. election) is a key potential support area for Bitcoin, and the trend of this range may determine its short-term trajectory. Kendrick said that if Bitcoin fell to the $69,000 to $76,500 range, it would be closer to MicroStrategy’s average purchase price of $65,000, so this is a key level that needs to be watched closely. He mentioned that MicroStrategy is currently in this price range and has been hovering around that level for several days, but has not yet fallen below. He emphasized that while it is unlikely to hit $65,000 in the short term, this price level is still noteworthy. In addition, Kendrick also pointed out that Bitcoin is highly correlated with major stock indexes, and broader market trends will affect the price of cryptocurrencies. Although former President Donald Trump’s recent Truth Social post about U.S. cryptocurrency reserves sparked some speculation, Kendrick believes that the 5% decline in Nasdaq futures since the last time U.S. markets opened has had a greater impact on Bitcoin’s decline.
project dynamics
Binance will launch multiple RedStone (RED) spot trading pairs on March 6
Binance announced that it will end pre-sales of RedStone (RED) at 17:00 on March 6, 2025, Beijing time, and launch the following spot trading pairs at 21:00 on the same day: RED/BTC, RED/USDT, RED/USDC, RED/FDUSD and RED/TRY. Binance announced that it will end pre-sales of RedStone (RED) at 17:00 on March 6, 2025, Beijing time, and launch the following spot trading pairs at 21:00 on the same day: RED/BTC, RED/USDT, RED/USDC, RED/FDUSD and RED/TRY. Users can recharge RED from 18:00 on March 6, Beijing time, to prepare for transactions, and the withdrawal function will be open at 21:00 on March 7. In addition, the transfer function will be restored before 18:00 on March 6. Previously, Binance Launchpool launched RedStone (RED).
zkLend: Asset recovery portal is now online
Starknet online lending agreement zkLend said in a post on the X platform: “The asset recovery portal is now online, please remain vigilant-always interact with official channels and verify communications through verified social media.” According to its previous introduction, users can directly access their claims through the portal by connecting to affected wallets. Previously, zkLend was attacked since February 11, resulting in financial losses of approximately US$9.6 million.
Bithumb will launch PLUME and COW tokens in the Korean won market
According to an official announcement, South Korean crypto exchange Bithumb will launch PLUME and COW tokens in the Korean won market.
Upbit will launch KAITO tokens in the Korean won, BTC, and USDT markets
According to an official announcement, South Korean crypto exchange Upbit will launch KAITO tokens in the Korean won, BTC, and USDT markets.
VanEck: Solana’s proposed two upgrades will enhance the network but significantly reduce verifier revenue
Asset manager VanEck said Solana’s planned protocol upgrades are critical to the long-term health of the network, but could hit verifiers ‘revenue. In March, Solana’s validators will vote on two blockchain protocol upgrade proposals (SIMD) that aim to ensure rewards for pledgers and adjust the inflation rate of the network-native token SOL. Matthew Sigel, director of digital asset research at VanEck, said in a March 4 X post that the two proposals have caused “significant controversy” because they could cut verifiers ‘revenue by as much as 95%, potentially endangering small operators. “While these changes may reduce pledge rewards, we believe that reducing inflation is a worthy goal and can enhance Solana’s long-term sustainability,” Sigel said. Sigel said that the first proposal, SIMD0123, would introduce an intra-protocol mechanism to allocate Solana’s priority fees to verifier pledgers. Traders can pay additional fees to speed up transaction processing. Priority fees account for 40% of network revenue, but currently verifiers do not need to share with pledgers. The proposal, which was voted on March 6, aims to increase pledge rewards, block off-chain trading agreements and strengthen on-chain execution. Sigel said the second proposal, SIMD0228, is the “most influential” proposal and would adjust the SOL inflation rate to be inversely proportional to the percentage of pledged token supply, potentially reducing dilution and reducing selling pressure on pledgers. As of February, Solana’s inflation rate was 4%, down from the initial 8%, but still well above the terminal target of 1.5%, and is currently falling at an annual rate of 15%, Coin Metrics reported.
As the Meme coin craze cools, daily trading volume of Pump.fun has plunged 94% from its January peak
According to The Block, trading volume of Pump.fun tokens that have “graduated” has dropped significantly since the beginning of the year, reflecting both the cooling of the broader market and the evolution of trader sentiment. Daily trading volume has plummeted from a peak of $3 billion in January to approximately $170 million at the time of writing, a drop of up to 94%. This decline is consistent with a slowdown in platform token graduation rates, which has dropped from 1.85% per week to 0.83%, indicating a decrease in the number of new tokens that have reached the $100,000 market cap threshold and are eligible for upgrade to Raydium. The decline in trading volume points to possible fatigue among traders in Solana’s minocoin ecosystem. After months of feverish activity, many participants seem tired of the dark side of the field. Factors such as scams, promotion of suspicious Internet celebrities and insider trading groups have all led to a general decline in people’s trust in Meme coins. Despite the current market downturn, Pump.fun’s overall influence remains significant since its launch on January 19, 2024. In just over seven months, the platform has generated $570 million in revenue.
Coinbase International Station will launch CAKE, BRETT, and AI16Z perpetual contracts
Coinbase International announced that it will launch Perpetual Contract (PERP) transactions for PancakeSwap (CAKE), Brett (BRETT) and ai16z (AI16Z) on or after 9:30 UTC on March 6, 2025, supporting Coinbase International Exchange and Coinbase Advanced platforms.
important data
Kaito’s team is suspected of selling 2 million tokens, or approximately $4.1 million
According to monitoring by@ai_9684xtpa, Kaito’s team suspected of selling 2 million tokens worth approximately US$4.1 million two hours ago. Data shows that the address 0x8D0… 4afA9 received 25 million tokens from the multi-signed address two weeks ago and transferred 5 million tokens to the new address 22 hours ago, of which 2 million have been recharged into the coin security.
More than 95.25 million XRPs were transferred from OKX to unknown wallets, approximately US$236 million
According to Whale Alert, 95,254,697 XRPs (approximately US$236 million) were transferred from the crypto exchange OKX to an unknown wallet at 16:37.
BNB broke through US$600, rising 5.71% in 24 hours
According to Binance market data, BNB exceeded US$600, rising 5.71% in 24 hours, and is now quoted at US$600.09.
AAVE broke through $220, rising 26.25% in 24 hours
According to OKX market data, AAVE exceeded US$220, rose 26.25% in 24 hours, and is now quoted at US$220.04. Previously, Aave updated its token economy model and initially planned to repurchase US$1 million AAVE every week.
Data: About US$102 million USDT transferred from Binance to unknown wallets
According to Whale Alert monitoring, 101,913,695 USDTs (approximately US$102 million) were transferred from Binance to an unknown wallet at 15:37.
Another 58964 SOL pieces were released from FTX/Alameda and were just deposited into Binance, approximately US$8.52 million
According to Lookonchain monitoring, another 58,964 SOLs (US$8.52 million) of the 3.03 million SOLs (US$431.3 million) released by FTX/Alameda have just been deposited into Binance.
A giant whale is shorting the ETH/BTC trading pair, depositing 2219 cbBTC from Aave and borrowing 45441 ETH
According to Lookonchain monitoring, a giant whale is shorting the ETH/BTC trading pair. The giant whale extracted 2,770 cbBTC (approximately US$243 million) from Coinbase, deposited 2,219 cbBTC (approximately US$194.6 million) with Aave, and borrowed 45,441 ETH (approximately US$99 million).
Two wallets associated with Ethena Labs deposited 29.87 million ENAs, or approximately US$11.52 million, into Binance
According to Spot On Chain monitoring, two wallets associated with Ethena Labs deposited 29.87 million ENAs (US$11.52 million) into Binance at a price of approximately US$0.386 in the past hour. It is worth noting that both wallets received ENA from Ethena Labs ‘multi-signature wallets on July 20, 2024, when the price was $0.487. Currently, one of the wallets still holds 53.6 million ENAs (worth US$20.2 million). Update: Lookonchain monitored three wallet addresses, saying that three wallets associated with Ethena’s team had deposited 38.36 million ENAs (approximately US$14.4 million) into Binance in the past hour.
The giant whale that received the most ETH compensation in Genesis Trading liquidation claims has sold 40,000 ETH units in the past 2 days
According to on-line analyst Ember Monitoring, the giant whale/institution that received the most ETH compensation in Genesis Trading’s liquidation claims in August last year has sold 40,000 ETH units (US$89.2 million) through brokers OTC in the past two days. In the past two days, he transferred 30,000 ETH to Galaxy Digital and 10,000 ETH to FalconX. Then it received 20 million USDC from Galaxy Digital and 19.49 million USDC from FalconX. The ETH at this address comes from the liquidation of Genesis Trading, a bankrupt institution, last August. It received compensation of 114,500 ETH(US$358 million), which was the address that received the most ETH compensation at that time. When he received compensation last year, the ETH price was $3,128. Now the price of ETH has dropped by 30% compared with that time. The value of the 114,500 ETH units paid fell by US$110 million.
financing
Reddit Joins the bidding team to acquire TikTok and plans to “link” the social app
According to The Block, Reddit co-founder Alexis Ohanian is seeking to acquire TikTok to “link” the social media application. The app plans to integrate the Frequency blockchain, a “decentralized social media protocol” designed to allow users to control their web content. Ohanian posted on X: “This is exciting news for the digital world. I am now officially one of the people trying to acquire TikTok’s U.S. business and link it up. TikTok is a game changer for the creators and its future should be shaped by them. Users should own their data. Creators should have their audience.” Ohanian has joined Project Liberty, a bidding team previously announced by Frank McCourt, former owner of the Los Angeles Dodgers in the United States, to acquire TikTok’s U.S. operations, and will serve as a strategic consultant focusing on social media.
Blockstream receives billions of dollars in investment to launch three crypto funds
According to Bloomberg, people familiar with the matter revealed that Bitcoin development company Blockstream Corp. has received a multibillion-dollar investment that will be used to launch three funds, two of which will support cryptocurrency lending. The investment suggests that the cryptocurrency lending business, which was once out of favor after the collapse of Sam Bankman-Fried’s FTX exchange in late 2022, is returning to favor, and that the business will also benefit from rising bitcoin prices and pro-cryptocurrency White House policies. Blockstream had said in January that it planned to launch one fund to guarantee bitcoin-backed loans, another fund would support cryptocurrency lending backed by U.S. dollars, and a third fund would adopt a hedge fund strategy. According to a person familiar with the matter who declined to be named, all three funds will go online on April 1, and two of the lending funds will be available for borrowing. The company plans to accept additional external funding starting July 1. Blockstream declined to comment further beyond confirming the planned launch date.
Berachain Mobile Pledge Agreement Infrared completes US$14 million Series A financing, led by Framework Ventures
Berachain Mobile Pledge Agreement Infrared completed a US$14 million Series A financing, led by Framework Ventures, with Citizen X, Halo Capital, No Limit Holdings, NGC Ventures and Selini Capital participating. This round of financing is conducted using the SAFT (Future Tokens Simple Agreement) model. After a US$2.25 million strategic round of financing and a US$2.5 million seed round of financing led by Binance Labs, Infrared’s cumulative total financing reached US$18.75 million. Infrared was incubated by the Berachain Foundation and launched two mobile pledge tokens, iBGT and iBERA, corresponding to Berachain’s governance token BGT and Gas token BERA respectively. Currently, the TVL of this agreement exceeds US$1.7 billion, making it the largest agreement in the Berachain ecosystem. Berachain’s main network was officially launched in February, but due to controversy over investor and internal position ratios, the BERA token has fallen 57% since its issuance on February 6.
Cross-chain agreement Across completes US$41 million in financing, Paradigm leads the investment
Across Protocol, which focuses on cross-chain interoperability, completed a US$41 million token financing, led by Paradigm, with the participation of Bain Capital Crypto, Coinbase Ventures, Multicoin Capital and angel investor Sina Habinian. This round of financing is carried out in two phases, completed in Q2 and Q4 of 2024 respectively, and the total financing amount has reached US$51 million. Across focuses on intent-driven cross-chain transactions, allowing users to transfer assets across the chain through a single request, with an average transaction time of less than 5 seconds. Its technology is based on the ERC-7683 standard, which has been adopted by more than 50 protocols including Base, Arbitrum, Polygon and Optimism, and is used in Uniswap’s cross-chain bridging function. So far, Across has handled a cumulative transaction volume of US$19 billion, of which the monthly transaction volume in January 2025 exceeded US$1 billion.
Acki Nacki completes more than US$6 million in financing, with Hack VC and others participating
According to Acki Nacki’s official announcement, pre-sales of its network nodes have been successfully completed, with a financing amount of more than US$6 million. Investors include Kingsway Capital, K5 Global, Blockchain.com, Original Capital and Hack VC. Acki Nacki uses a “Bitcoin for Proof of Stake” design. There is no pre-mining, airdrop, or token allocation. The $NACKL token will be released within 60 years after mining. Its Gossip Ignite decentralized launch protocol was launched on January 29, 2025, and the main network will be officially launched after 75% of verifiers join. Currently, the network test network has more than 5 million users, and the goal is to promote a truly decentralized “world computer” vision.
