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▌Fox reporter: The US SEC's lawsuit against Ripple has entered the final stage
According to Fox Business reporter Eleanor Terrett, the US SEC's lawsuit against Ripple may soon end in ongoing negotiations and has entered the final stage. The delay in reaching the agreement was reportedly because Ripple's legal team was negotiating more favorable terms for the August district court ruling, which fined the company $125 million and included a permanent injunction that prohibited the company from selling XRP to institutional investors.
▌The US SEC once again postponed the approval of Fidelity spot Ethereum ETF options trading
The US SEC once again postponed the resolution on Fidelity spot Ethereum ETF options trading.
Trending as of press time, according to Coingecko data, BTC's latest transaction price is US$83,527.16, with an intraday increase of 0.8%;
ETH's latest transaction price is US$1,904.61, with an intraday increase of -0.8%;
BNB's latest transaction price is US$570.51, with an intraday increase of 3.3%;
SOL's latest transaction price is US$126.16, with an intraday increase of 0.4%;
DOGE's latest transaction price is US$0.1721, with an intraday increase of 4.4%;
XPR's latest transaction price is US$2.24, with an intraday increase of 2.6%.
▌Blockchain-related terms in the SEC file hit a record high in February
The terms in the U.S. Securities and Exchange Commission (SEC) file reached an all-time high in history in February, with more than 5,000 related mentions recorded by the EDGAR database, showing a continuous upward trend since mid-2023.
This growth is consistent with a significant shift in the SEC's regulatory attitude towards the crypto industry. Since the presidential change in January, Acting Chairman Mark Uyeda took office, the SEC has terminated multiple investigations against companies such as Uniswap, Coinbase, Yuga Labs, Kraken and Gemini, marking a different adjustment from the "law enforcement and supervision" strategy during the period of former chairman Gary Gensler. In addition, Uyeda's crypto task force, led by Hester Peirce, a committee member who supports the crypto industry, plans to hold its first round table this month to explore a more collaborative regulatory model.
▌AML Bitcoin founder is convicted of fraud and may face decades of imprisonment
A 12-person jury in San Francisco federal court ruled today that Marcu, founder of Anti-Money Laundering Bitcoin (AML Bitcoin),Rowland Andrade, who planned a multi-million-dollar “support” scam in 2017, was convicted of federal telecom fraud and money laundering, and may face decades in prison. Andrad is a Texas businessman who has worked with well-known lobbyist Jack Abramoff to promote AML Bitcoin as a "safe and reliable" payment system.
▌U.S. Massachusetts Congressman proposes to establish a special committee on blockchain and cryptocurrency
Massachusetts Congressman Kate Lipper-Garabedian submits a bill to establish a special committee including state legislature members to investigate matters related to blockchain and cryptocurrency.
▌Braska signed the Bitcoin ATM Regulation Act
Braska Governor Jim Pillen officially signed the LB609 Act on Wednesday to regulate Bitcoin ATMs and other electronic trading terminals to prevent fraud and protect consumer rights. The bill requires Bitcoin ATM operators to clearly disclose all terms of use and provide users with eye-catching anti-fraud warnings. In addition, users can receive a full refund if they report fraud to operators and law enforcement within 90 days.
Blockchain application
▌Solana SIMD-228 proposal currently has a support rate of 35.7%, and an opposition rate of 17.2%. According to data on the chain, Solana's SIMD-0228 proposal currently has a support rate of 35.7%, an opposition rate of 17.2%, and abstention rate of 1.2%. If the proposal is passed, it will be implemented gradually within 50 epochs with the goal of significantly reducing inflation (possible reductions of 70%–80%, for example from 4.5% to a minimum of about 0.87%).
The proposal proposes a significant adjustment to the token issuance model of the Solana blockchain. Specifically, the proposal hopes to adjust the inflation model of SOL tokens from the current fixed rate to a dynamic market mechanism linked to the staking participation rate. It aims to optimize Solana's currency by making inflation dynamically adjust the proportion of SOL's pledge, thereby enhancing the flexibility and efficiency of the network economy.
▌GnosisDAO voted to invest an additional $4.8 million to continue to support HOPR's research and development decentralized VPN
GnosisDAO has voted to pass an additional $4.8 million investment to support Gnosis VPN developed by HOPR, which is expected to be launched within two years. Gnosis VPN is a collaboration project launched by Gnosis and HOPR last year, which is responsible for VPN development and has received $1.5 million in seed funding, and Gnosis has acquired a portion of its HOPR's asset library in return. HOPRCo-founder Sebastian Burgel said that decentralized VPNs, as tools to block search traffic, are still under-developed areas in the market and are crucial to protecting on-chain privacy.
Cryptocurrency
▌The co-founder of the Russian sanctioned crypto trading platform Garantex was arrested in India
Aleksej Besciokov, the co-founder of the sanctioned Russian crypto trading platform Garantex, was arrested while on vacation in India. Besciokov faces allegations of money laundering, co-conspiracy against sanctions and operating unlicensed funds transfer business. Last week, an international law enforcement agency composed of the United States, Germany and Finland jointly operated to seize Garantex’s servers and domain names and freeze nearly $28 million in crypto assets, which was assisted by stablecoin issuer Tether.
▌Sui reached a cooperation with the encryption security platform Blockaid
Sui reached a cooperation with the encryption security platform Blockaid to enhance the security of the Sui ecosystem. According to the announcement, Blockaid will add protection measures for Sui wallet and deal with smart contract vulnerabilities, off-chain threats and operational failures on Sui.
▌Bloomberg analyst: Crypto ETF approval may be postponed until the new SEC chairman takes office
The U.S. Securities and Exchange Commission (SEC) on Tuesday delayed its decision to apply for multiple spot cryptocurrency ETFs, including XRP, Solana (SOL), Dogecoin (DOGE) and Litecoin (LTC). Bloomberg ETF analyst James Seyffart said the SEC is unlikely to approve or reject the applications until Trump-nominated SEC chairman Paul Atkins is confirmed by Congress.
Seyffart pointed out that although Trump has nominated Atkins to take over as SEC chairman, no confirmation hearing has been scheduled. In addition, the approval of spot Bitcoin and Ethereum ETFs has been several years since the SEC has previously regarded the maturity of the relevant asset futures market as an important approval standard, while the ETF applications currently pending review have not met this standard.
Nevertheless, analysts believe that the probability of some altcoin ETFs being approved by the end of this year is still as high as more than 65%. However, the final result still depends on the confirmation of the new chairman and its direction.
▌Modular blockchain network Hemi main network is online
Modular blockchain network Hemi main network is officially launched. Hemi completed a $15 million seed round in September 2024, with institutions such as Binance Labs, Breyer Capital and Big Brain Holdings participating.
Important economic dynamics
▌People familiar with the matter: Trump advances a large-scale antitrust investigation into Microsoft
According to foreign media reports, the US Federal Trade Commission (FTC) is promoting a large-scale antitrust investigation into Microsoft (MSFT.O) in the late Biden administration, which shows that censoring tech giants is the top priority of Trump's new FTC chairman Ferguson. FTC staff have been continuing to investigate in recent weeks, meeting with businesses and other groups to gather information, according to people familiar with the matter. Late last year, the FTC issued a so-called civil investigation request to Microsoft. The document forced the company to hand over a lot of data about its AI business, including the cost of training models and getting data, which dates back as early as 2016. The agency wants to learn the details of Microsoft's data center and the company's efforts to find enough computing power to meet customer needs. The FTC is also scrutinizing Microsoft's decision to cut funding for its own AI projects after a deal with OpenAI, which could be seen as a damaging competition in the AI market. The progress of the investigation is now in the hands of Ferguson and his new director of competition affairs, Guinella. Guanela previously worked at the Justice Department, where she was responsible for antitrust cases against Alphabet and Apple.
▌The RMB exchange rate against the US dollar fluctuates upward, and there may still be room for appreciation in the short term
In recent times, the RMB exchange rate against the US dollar has shown a fluctuation and upward trend. Wind data shows that as of the close of March 12, the onshore RMB exchange rate against the US dollar rose 0.54% in March, once rebounding from near the "7.3" mark to near the "7.2" level. Looking longer, compared with this year's lowest point (7.3326), the onshore RMB exchange rate against the US dollar has rebounded by about 1.19%. The offshore RMB exchange rate against the US dollar also showed a similar trend. As of the close of March 11, the offshore RMB exchange rate against the US dollar rose by 0.93% in March. "In recent trading days, the RMB exchange rate against the US dollar has fluctuated upward, mainly due to the sharp decline of the US dollar index. The non-US currencies have generally appreciated recently, and the RMB has also risen accordingly." Wang Qing, chief macro analyst of Oriental Jincheng, said.
▌The probability of the Federal Reserve keeping interest rates unchanged in March is 98%
According to CME's "Feder Observation": The probability of the Federal Reserve keeping interest rates unchanged in March is 98.0%, and the probability of cutting interest rates by 25 basis points is 2.0%. The probability of maintaining the current interest rate unchanged by May is 82.1%, the probability of a cumulative interest rate cut of 25 basis points is 17.6%, and the probability of a cumulative interest rate cut of 50 basis points is 0.3%.
Golden Encyclopedia
▌What is a cold wallet?
Cold wallet is a cryptocurrency storage method that stays offline and disconnects from the internet. This setup makes it more difficult for hackers to access funds remotely. Examples include: hardware wallets (such as Ledger, Trezor), paper wallets, isolated computers (devices that have never been connected to the internet).
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