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▌US media: The IRS plans to lay off nearly 45,000 employees
Two people familiar with the matter revealed that the IRS is drafting a plan to cut its workforce by up to half by various means such as layoffs, natural reductions and providing incentive buyouts. These layoffs are part of Trump's attempt to reduce the size of federal employees through the efficiency department Musk is responsible for, including closing some agencies, laying off almost all probationary employees who have not yet been protected by civil servants, and providing a buyout of their seniority program to almost all federal employees through a "delayed resignation program" to rapidly reduce the number of employees.
▌Circle's USDC will become Japan's first dollar stablecoin
Circle's USDC will become Japan's first dollar stablecoin, and SBI VC Trade will be the first to list Circle's stablecoin under Japan's new payment framework.
Trending as of press time, according to Coingecko data, BTC's latest transaction price is US$87,070.70, with an intraday rise and fall of +1.1%;
ETH's latest transaction price is US$2,165.88, with an intraday rise and fall of +0.6%;
BNB's latest transaction price is US$582.56, with an intraday rise and fall of +1.4%;
SOL's latest transaction price is US$144.39, with an intraday rise and fall of +1.4%;
DOGE's latest transaction price is US$0.1986, with an intraday rise and fall of -0.3%;
XPR's latest transaction price is US$2.45, with an intraday rise and fall of +2.7%.
▌The US Treasury Department sanctions 49 Bitcoin and Monero addresses, involving the dark web market Nemesis
According to the announcement of the U.S. Treasury Office of Overseas Assets Control (OFAC), the United States has included 49 cryptocurrency addresses on the sanctions list, which are controlled by Iranian citizen Behrouz Parsarad, who is accused of being an administrator of the dark web market Nemesis. The addresses that were sanctioned this time include 44 Bitcoin and 5 Monero addresses.
Nemesis had 30,000 active users before it was shut down, and led to nearly $30 million in drug deals over three years of operation. According to OFAC, Parsarad made millions of dollars by charging users for transaction fees and was suspected of laundering money for drug traffickers and cybercriminals. Nemesis deals range from drugs, personally identifiable data, forged documents, ransomware and cybercrime tools such as phishing attacks and DDoS tools.
▌U.S. Senate votes to repeal the IRS DeFi broker rules
On Tuesday, the U.S. Senate was among the big ones of Democrats.With strong support, a resolution aimed at repealing Biden’s cryptocurrency tax rules was successfully passed, which could be the biggest obstacle to eliminating the new IRS broker rule, which was originally planned to cover decentralized finance. The Senate voted 70 to 27 to pass a resolution authorized under the Congressional Review Act, aiming to completely repeal the extension of the IRS broker rules. 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 abolished, but the IRS will also be banned from implementing similar situations in the future.
The House Financial Services Committee has passed an identical resolution and recommended approval in the House of Representatives' voting, which is still awaiting a vote. The White House said earlier today that the president may sign the resolution quickly.
▌The US SEC agrees to withdraw the lawsuit against Cumberland DRW
Crypto trading company Cumberland DRW issued a statement on the X platform stating that it has signed a joint application with the U.S. Securities and Exchange Commission (SEC) to revoke the lawsuit filed by the SEC against it. The agreement was agreed in principle on February 20 and is currently awaiting approval from the SEC committee.
The U.S. SEC sued Cumberland DRW in October last year, accusing it of operating as an unregistered securities dealer and selling more than $2 billion in unregistered securities.
▌Belarusian President has ordered the development of cryptocurrency mining to generate revenue by using excess electricity
Belarusian President Alexander Lukashenko has instructed the new energy minister to start developing the country's cryptocurrency mining industry to make full use of excess electricity resources. The decision comes as Lukashenko formed a new role, and he also stressed that the current priority is to upgrade the 5,700-km grid across the country to meet the growing electricity demand for households and economic activities.
Blockchain application
▌Reddit Alexis Ohanian participated in the bidding for TikTok and planned to "roll it"
Reddit co-founder Alexis Ohanian is considering acquiring TikTok and plans to "roll it" the social media application. The app plans to integrate the Frequency blockchain, a “decentralized social media protocol” designed to give users control over their online content. Frequency is a blockchain-based decentralized platform created by Project Liberty to increase transparency, accountability and data ownership.
Alexis Ohanian said on X platform: "This is exciting news for the digital world. I am now officially one of the people trying to buy TikTok US and bring it to blockchain. TikTok has changed the game for creators, and its future should be created by them. Users should have their own data. Creators should have their own audience. That's it. ”
Cryptocurrency
▌Standard Chartered Bank analyst: $69,000 to $76,500 is the key potential support area for Bitcoin
Standard Chartered Bank analyst Geoff Kendrick expressed concerns about the short-term trends of Bitcoin and Strategy (formerly MicroStrategy) as Bitcoin prices face potential volatility near key support levels.
Kendric pointed out that the price range on November 6, 2024 (the day after the U.S. election) is the key potential support area for Bitcoin, with an estimated price range between $69,000 and $76,500. He believes that Bitcoin’s trend in this range may determine its short-term trend. He noted that if Bitcoin’s price falls to $69,000 to $69,000 The range of $76,500 will be closer to Strategy’s average purchase price of $65,000, so this is a key level to pay attention to.
▌Salvador President: Will not stop raising Bitcoin due to the IMF agreement
Salvador Nayib Bukele said on X platform that El Salvador has no intention of stopping Bitcoin (BTC), no matter what the International Monetary Fund (IMF) requested.
Bukele posted on X platform: "'This will stop in April. ’’This will stop in June. ’'This will stop in December. ’ No, it won’t stop, and if the world excludes us and most ‘bitcoin users’ abandon us, we won’t stop now and in the future. Proof of Work > Proof of Complaint. ”
Earlier that day, the International Monetary Fund (IMF) announced more details of the $3.5 billion agreement with the Latin American. The IMF claims that as part of the loan plan, the IMF prohibits the "public sector from voluntarily accumulating Bitcoin."
Salvador once again increased his holdings by one bitcoin this morning, and currently holds 6,101.18 bitcoins in the past 30 days. According to data from the El Salvador Ministry of Finance website, El Salvador increased his holdings by another bitcoin in the early morning of this day, and increased his holdings by 5 bitcoins yesterday. Currently, its holdings of 6,101.18 bitcoins, worth more than $520 million, has increased its holdings by 13 bitcoins in the past 7 days and 45 bitcoins in the past 30 days.
▌Coinbase and Robinhood CEO and other industry executives have confirmed to attend the White House Cryptocurrency Summit
According to Fox Business Channel reporter Eleanor Terrett, although the official invitation letter has not been sent yet, many important industry figures have confirmed that they will attend this Friday.The cryptocurrency summit held by the White House. Sources pointed out that the scale of the summit may be smaller than previously expected.
The guests who have confirmed to attend the summit include: Coinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev, Kraken CEO Arjun Sethi, MicroStrategy founder Michael Saylor, Paradigm co-founder Matt Huang, Multicoin Capital managing partner Kyle Samani, Yield Guild Games co-founder Jp Richardson, World Liberty Fund co-founder Zach Witkoff, Chainlink co-founder Sergey Nazarov, etc.
Important economic trends
▌The probability of the Federal Reserve keeping interest rates unchanged in March is 95%
According to CME's "Feder Observation": The probability of the Federal Reserve keeping interest rates unchanged in March is 95%, and the probability of a 25 basis point cut is 5%. The probability of maintaining the current interest rate unchanged by May is 57.4%, the probability of a cumulative interest rate cut of 25 basis points is 40.6%, and the probability of a cumulative interest rate cut of 50 basis points is 2%.
▌Analysis: The market has changed from expectation to worry, "Trump options" disappears
Institutional analysts said that "Trump options" no longer exist. The evidence is that U.S. stocks have wiped out almost all the sharp gains since (Trump) election day, and this decline has also affected Bitcoin and other risky assets. There have been expectations for President Trump to relax regulations, tax cuts and other fiscal stimulus measures, which have now been replaced by concerns. "The chaos in the United States brings a lot of uncertainty. This is simply a Trump-induced fire," said Chris Galipeau, senior market strategist at Franklin Templeton Investments. Benoit Anne, general manager of Meisheng Investment Management, said the trade war is a risk to economic growth in the United States and other parts of the world. The stock market is reflecting this point. US stocks are no longer rising all the way, and the situation is more complex and changeable now. "The worst may pass soon, the stock market is now in a "discount promotion" state, and the scope of profit growth is expanding, which is a positive factor, and mid-cap and small value stocks look particularly attractive. As AI-related transactions "lose support more and more", even the "big seven" in the technology industry are almost becoming good bargains."
Analysts: The United States may ease its tariffs
Analyst Adam Button said that the U.S. Commerce Secretary said that Trump may cut tariffs on the United States and Mexico tomorrow.This sudden change in attitude makes people wonder if this is part of the U.S. plan. The reason is that the tariffs announced by Trump yesterday were not found on the US federal website, and now the unpublished document is available, but the release date is March 6, which may imply that the United States will have some changes or exemptions before this. The above situation may be just a bureaucratic process issue, but it still exacerbates people's confusion.
▌Federal Williams: Tariffs will have a certain impact on inflation
Federal Williams said that understanding the details of tariffs is the key, and tariffs will have a certain impact on inflation. Begin to consider the impact of tariffs on prices. Currency is in good condition and can be adjusted as needed. It is not believed that interest rates need to be changed at the moment.
Golden Encyclopedia
▌What is DeFAI
DeFAI is combining DeFi's decentralized financial ecosystem with artificial intelligence-driven analysis and automation. DeFAI is still in its early stages, focusing mainly on momentum trading similar to memecoins, so there is still a lot of room for rapid development. DeFAI represents a turning point in the Crypto asset industry.
Disclaimer: As a blockchain information platform, the content of the articles published by Golden Finance is for information reference only and is not used as actual investment advice. Please establish the correct investment philosophy and be sure to improve your risk awareness.
