Headlines
▌The Wall Street Journal: CZ Remains Binance's Largest Shareholder
According to The Wall Street Journal, CZ, widely known as CZ, remains Binance's largest shareholder. Binance has acknowledged violating U.S. anti-money laundering laws in 2023. Previously, sources revealed that representatives of the Trump family have held negotiations on investing in Binance's U.S. subsidiary, aiming to explore business opportunities.
▌Putin: Russia Agrees to a 30-Day Ceasefire
Putin stated that Russia has agreed to a 30-day ceasefire, but Russia currently has an advantage on the Kursk front. Whether the Ukrainian military will withdraw unharmed or lay down their weapons and surrender on the spot needs to be resolved. Putin also said that further discussions are needed on how to monitor the ceasefire and resolve many details. Putin said he may exchange views on these issues with Trump. (CCTV News)
Market
As of the time of writing, according to Coingecko data:
BTC's latest trading price is $81,323.71, with a daily change of -2.7%;
ETH's latest trading price is $1,876.35, with a daily change of -1.6%;
BNB's latest trading price is $577.04, with a daily change of +0.8%;
SOL's latest trading price is $123.46, with a daily change of -2.2%;
Doge's latest trading price is $0.1653, with a daily change of -3.7%;
XPR's latest trading price is $2.26, with a daily change of +1.2%.
Policy
▌Turkey Introduces New Regulations to Strengthen Crypto Asset Oversight
Turkey is advancing crypto asset regulations, developing new rules for Crypto Asset Service Providers (CASPs). On March 13, the Turkish Capital Markets Board (CMB) issued two regulatory documents on CASP licensing and operations, covering crypto trading platforms, custodians, and wallet service providers. The regulatory framework grants the CMB comprehensive oversight of crypto platforms to ensure compliance with domestic and international standards. Additionally, the framework sets standards and requirements for establishing and providing crypto asset services in Turkey, including registered capital, management background, shareholder rules, etc.
▌U.S. Senate Banking Committee Votes to Advance Stablecoin Bill
The U.S. Senate Banking Committee has advanced a crypto industry stablecoin regulation bill, an important first step towards the legislation being sent to President Donald Trump for signing into law. With the initial committee approval, this bill to federally regulate U.S. stablecoin issuers now needs to pass the full Senate, while a similar version awaits approval in the House. While many hurdles remain, including reconciling the different bills between the chambers, the bill was approved by the committee in an 18-6 vote.
▌U.S. Treasury Meets with Crypto Firms to Discuss Bitcoin Reserve Custody
Sources reveal that the U.S. Treasury Department met this week with executives from three crypto custody firms to discuss how to safeguard a national strategic Bitcoin reserve. Anchorage Digital was one of the institutions involved in the meeting. Anchorage CEO Nathan McCauley stated that Treasury officials extensively inquired about best practices for Bitcoin national reserves and digital asset custody, and discussed how custody could impact stablecoins and market structure. Congressional sources said the Treasury is in a research phase without a clear position yet, but is actively seeking industry input. The current preference is for a third-party to custody government Bitcoin reserves, with the long-term goal of the government self-custodying. As for various seized digital assets controlled by the government, long-term reliance on third-party custody may still be necessary. The U.S. Treasury declined to comment.
▌U.S. Senate Banking Committee Advances the Financial Integrity and Regulation Management Act
The U.S. Senate Banking Committee advanced the Financial Integrity and Regulation Management Act this Thursday in a 13-11 vote. The bill will prohibit federal regulators from using reputational risk as an assessment factor in financial regulation. The committee also made a series of amendments to the bill, including adjusting regulatory approaches through a management program to ensure bank regulation is tailored to their risk profiles and business models.
Blockchain Applications
▌Coinbase International to List REZ, GRASS, RARE Perpetual Contracts
According to the official announcement, Coinbase International Exchange and Coinbase Advanced will list perpetual contracts for REZ, GRASS, and RARE.
▌Jupiter Announces Launch of Solana Ecosystem Token Liking Feature
According to official information, Jupiter has announced the launch of a new community verification system, allowing users to easily support Solana ecosystem tokens by clicking the "Like" button. Upon initial launch, only verified accounts or smart accounts can click the "Like" button. Users' X accounts will not be linked to their associated wallets.
Cryptocurrencies
▌CZ: The Wall Street Journal Report Distorts the Facts, No Discussion on Binance US Deal
Binance co-founder CZ posted on the X platform, stating that the Wall Street Journal report distorts the facts. They are trying to fabricate a story to report, and he has not discussed the Binance US deal with anyone. No hardened criminal would mind a pardon, and it seems the article's motive is to attack former President Trump and cryptocurrencies, as the remnants of the "crypto war" from the previous U.S. administration are still at play. CZ is glad to see even The Wall Street Journal believes he should be pardoned.
▌Sources: Trump Crypto Project WLFI Discussed Stablecoin Collaboration Possibility with Binance
Four informed sources revealed that Trump's crypto project WLFI had discussed collaboration with the world's largest digital asset exchange Binance Holdings Ltd. Binance's founder had previously acknowledged failing to take necessary measures to prevent entities from sanctioned countries and terrorists from using its services. It is unclear how far these discussions progressed or if any deal or collaboration project will ultimately materialize. These sources requested anonymity as the negotiations were private matters. Two of them said the discussions included the possibility of Binance collaborating with WLFI to develop a stablecoin - a cryptocurrency pegged to the U.S. dollar. Trump and his son have been promoting the company since September last year, and according to its founding documents, the Trump family could receive three-quarters of WLFI's net revenue.
Important Economic Dynamics
▌Wall Street Fuels a Gold Rush, but Investors Should Be Cautious
Analyst Karishma Vanjani said Wall Street is fueling a gold rush, but investors should be careful. JPMorgan and Goldman Sachs have recommended continuing to hold gold, Barclays Bank has just raised its gold price forecast, and BlackRock has been advising buying gold to diversify portfolios for several months. So far, these recommendations have been correct. But this is not without risk. First, considering that gold has been in a bull market since September 2022, it can be said that it is overvalued. This increases the possibility that gold prices have largely reflected the potential of this period, and therefore a pullback is easily possible. These gains may attract early investors to sell to lock in profits. Second, gold may also struggle if efforts to reform the federal government in the U.S. are proven successful. Furthermore, economic growth is negatively correlated with gold. When the economy is booming, investors tend to favor riskier assets like stocks rather than the less attractive gold.
▌The U.S. Will Impose Additional Sanctions on Russia's Oil, Gas, and Banking Sectors
According to CBS, the U.S. will impose additional sanctions on Russia's oil, gas, and banking sectors.
Jinse Encyclopedia
A cold wallet is a method of storing cryptocurrency that keeps it offline and disconnected from the internet. This setup makes it much harder for hackers to remotely access the funds. Examples include: hardware wallets (such as Ledger, Trezor), paper wallets, and air-gapped computers (devices that have never been connected to the internet).
Disclaimer: Jinse Finance, as a blockchain information platform, the articles published are for informational reference only and not as actual investment advice. Everyone should establish the correct investment concept and must increase risk awareness.
