1. Top Crypto Coins on CEX
Top 10 CEX Trading Volume and 24-Hour Price Change:
BTC: -4.25%
ETH: -4.85%
XRP: -1.82%
SOL: -5.42%
ADA: -11.82%
SUI: -0.11%
DOGE: -4.57%
TRUMP: -4.86%
ENA: +3.02%
LINK: -2.47%
24H Gainers (Data from OKX):
AUCTION: +9.27%
DGB: +9.02%
MOVE: +7.62%
CRO: +5.97%
CETUS: +5.26%
ICE: +2.41%
SD: +1.27%
TRA: +1.12%
SUI: +0.70%
PNUT: +0.65%
2. Top 5 Meme Coins on Chain (Data from GMGN):
BWEATHE
Nadu
TDF
TRUMPKING
Strawberry
3. 24H Trending Coins
TRUMPKING, due to the recent crypto market being tied to Trump, a "Trump worship" phenomenon has emerged on-chain, and this Meme coin summarizes and mocks this phenomenon.
Headlines
Trump Signs Executive Order to Establish a U.S. Strategic Bitcoin Reserve
According to a post by David Sacks, President Trump has just signed an executive order to establish a U.S. strategic Bitcoin reserve. The reserve will use Bitcoin seized through asset forfeiture procedures, without increasing the tax burden on taxpayers.Key points:
The U.S. government estimates it holds about 200,000 Bitcoins, and this order requires a full audit;
The Bitcoins in the reserve will be held as a store of value and will not be sold;
Early sale of Bitcoins has cost taxpayers over $17 billion in losses;
The Treasury and Commerce Departments can develop plans to acquire more Bitcoins without increasing the tax burden;
A U.S. Digital Asset Stockpile will also be established to manage the government's other digital assets;
The President has fulfilled his promise to make the U.S. the "crypto capital of the world", with important contributions from Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Executive Director of the Working Group Bo Hines.
Trump Executive Order Establishes Two Digital Asset Holding Mechanisms
FOX Business reporter Eleanor Terrett posted on X that Trump's executive order establishes two different digital asset storage mechanisms:
1. Strategic Reserve (Strategic Reserve) stores only Bitcoin (BTC) - considered the best digital asset for value storage
Initial funding source: About 200,000 Bitcoins obtained by the government through criminal and civil forfeiture over the years
Unique authorization: Treasury Secretary Bessent and Commerce Secretary Lutnick are authorized to explore ways to acquire more Bitcoins without increasing the tax burden on taxpayers
Positioned as a national-level digital value reserve
2. Digital Asset Stockpile includes digital assets other than Bitcoin - may include XRP, ADA, ETH, SOL and other assets
Managed by the Treasury Department to "responsibly manage" the government's digital assets
The government will only explore budget-neutral ways to purchase more Bitcoins, and will not actively seek to increase the number of other digital assets in the stockpile.
The executive order also requires a comprehensive audit of all digital assets currently held by the government to ensure transparency in asset management.
Industry News
U.S. Initial Jobless Claims for the Week Ended March 1 Were 221,000, Expected 235,000, Prior 242,000
U.S. Continuing Jobless Claims for the Week Ended February 22 Were 1.897 Million, Expected 1.88 Million, Prior Revised from 1.862 Million to 1.855 Million.
IntoTheBlock: Nearly $900 Million in Bitcoin Withdrawn from Exchanges in the Past 7 Days
According to data disclosed by IntoTheBlock, despite the recent surge in market panic, traders seem to still have confidence in Bitcoin, as nearly $900 million worth of Bitcoin has been withdrawn from exchanges in the past 7 days.
According to on-chain analyst Ali, the number of addresses holding over 10,000 ETH has now reached 919, with an average cost basis of $2,172.
Project News
Trump Family Crypto Project WLFI Partners with Sui Network
According to official news, the Trump family crypto project WLFI has partnered with Sui Network, with WLFI planning to include Sui assets in its strategic token reserve "Macro Strategy" and begin exploring product development opportunities.
According to data disclosed on the X platform, thanks to its support for Bitcoin, MicroStrategy (now Strategy) has become the largest convertible bond issuer in the U.S. market so far this year, with a 30% market share, having issued $2 billion in convertible bonds so far this year.
Token Terminal: Uniswap's Cumulative Trading Volume Exceeds $2.5 Trillion
Token Terminal reported that Uniswap's cumulative trading volume has exceeded $2.5 trillion.
Tether Freezes $28 Million USDT Belonging to Sanctioned Russian Exchange Garantex
Stablecoin issuer Tether has frozen about $28 million (2.5 billion rubles) worth of USDT belonging to the sanctioned Russian crypto exchange Garantex, causing the platform to temporarily suspend operations. Garantex announced in an official notice that it has temporarily suspended operations and closed withdrawals, with its website currently under maintenance.
This freezing action occurred after the EU imposed new sanctions on Garantex on February 26. Garantex warned users that "all USDT in Russian wallets are currently at risk". The platform emphasized that it will not give up and will continue to fight.
Garantex was already added to the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) sanctions list in April 2022. Tether has not yet responded to the freezing decision.
Gate.io Announces Completion of Q4 2024 Platform Token GT Burn, Worth Over $63.9 Million
According to the official announcement, the Q4 2024 on-chain burn of the Gate Token (GT) has been completed, with 2,904,885.4321514 GT transferred to the burn address, worth over $63.9 million. To date, a total of 177 million GT have been burned.
The Dantewada district of Chhattisgarh, India, has announced that it has digitized 700,000 land records dating back to 1950 and stored them on the Avalanche blockchain to ensure transparency and tamper-resistance. The project was implemented with the assistance of Indian blockchain startup LegitDoc (a subsidiary of Zupple Labs).
Local officials said that this move will significantly improve the accessibility and security of land records, avoiding delays and tampering risks in traditional verification processes. In addition, the government has set up self-service terminals in various sub-regions for citizens and officials to query, with sensitive data requiring authorized access, and on-chain records can be verified through the Avalanche Explorer.
Investment and Financing
YZi Labs Announces Investment in Tensorplex
According to official information, YZi Labs has announced an investment in Tensorplex, with the specific amount not yet disclosed. Tensorplex Labs is a decentralized AI laboratory that uses decentralized technologies (such as Tensorplex Dojo, Backprop Finance, etc.) to build applications, infrastructure and tools to enhance AI development and use cases.
Privacy Blockchain Seismic Completes $7 Million Financing, Led by a16z Crypto
The privacy blockchain project Seismic has announced the completion of a $7 million financing round, led by a16z Crypto, with participation from Polychain, 1kx, NGC, and dao5. Specific valuation information has not yet been disclosed, and the new funds will be used to build a private smart contract platform.
The decentralized AI network Fortytwo has announced the completion of a $2.3 million Pre-Seed financing round, led by Big Brain Holdings, with participation from CMT Digital, Escape Velocity Ventures (EV3), Chorus One, Mentat Group, and angel investors including Santiago R Santos, Keone Hon, Paul Taylor, and Comfy Capital. Fortytwo is creating a new type of reasoning that leverages small language models running on everyday devices to achieve scale and capabilities beyond centralized AI.
Regulatory Trends
Texas Senate Passes Strategic Bitcoin Reserve Bill SB 21
The Texas State Senate passed the Strategic Bitcoin Reserve Bill SB 21 with a vote of 25 to 5. Next, SB 21 will be submitted to the Texas House of Representatives, where the bill will be assigned to relevant committees for review, amendment, and hearings. If the House amends SB 21, the Senate must agree to those amendments, otherwise a conference committee will be needed to reconcile the final version. The final version agreed to by both chambers will then need to be voted on and passed by each chamber separately. After passing the House and Senate, the bill will be sent to the Texas Governor for signing. The Governor can choose to sign the bill into law.
Hong Kong SFC Warns: Beware of Alleged Virtual Asset Fraud by Linkbex
The Hong Kong Securities and Futures Commission (SFC) has reminded the public to be wary of Linkbex, an entity allegedly engaged in virtual asset fraud and falsely claiming to be associated with seven licensed companies in Hong Kong.
Investors have reported that their accounts on Linkbex have been frozen on the pretext of an "SFC anti-money laundering investigation". At the SFC's request, the Hong Kong Police Force has taken action to block Linkbex-related websites to prevent further risks.
Voices
David Sacks, the White House's AI and Crypto Lead, posted on the X platform that over the past decade, the US federal government has sold approximately 195,000 Bit, generating $366 million in revenue. If the US government still held these Bit, their current value would exceed $17 billion, which is the cost that US taxpayers have paid for not having a long-term strategy.
US Commerce Secretary Raimondo: Tariffs Will Not Provide Funding for a US Sovereign Wealth Fund
US Commerce Secretary Raimondo stated that tariffs will not provide funding for a US sovereign wealth fund.
Bitwise CIO: Trump Administration's Crypto Reserves May Be Primarily in Bit, Exceeding Expectations
Bitwise Chief Investment Officer Matt Hougan recently said that the Trump administration's cryptocurrency reserves will likely be predominantly composed of Bit, and the scale may far exceed market expectations. He believes that Bit will dominate and become the core asset.
Startale CEO: Japan Aims to Classify Cryptocurrencies as New Assets, Not Securities
Sota Watanabe, the CEO of Startale, revealed that the ruling party in Japan has proposed establishing a new regulatory framework for cryptocurrencies under the Financial Instruments and Exchange Act. If the proposal is passed this year, cryptocurrencies may not be regulated as securities, but rather be viewed as a new asset class, which could lead to the introduction of crypto ETFs and a reduction in the tax rate from the current highest level of 55% to 20%.
The government has been in dialogue with industry leaders in Japan, which is seen as a positive outcome of regulatory cooperation with the industry, and is expected to attract more Japanese investors to the on-chain market.
Top trader Eugene Ng Ah Sio stated in a TG group: "As of March 7th, I believe there is no expected earnings (EV) in speculating on reserve assets. The current price is in a no-trade zone, and I will only focus on mean reversion trades when approaching the edge of the range.
I've seen many people slowly give back their profits to the market, ultimately being cut to death.
