Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance. The content covers key news of the week, mining information, project trends, technology progress and other industry trends. This article is one of the weekly news articles, giving you an overview of the major events in the blockchain industry this week.
Headlines
▌Bitcoin denominated in Japanese yen, British pound and other currencies hit a record high
While Bitcoin is still below its all-time high in November 2021 in US dollar terms, BTC has broken all-time highs in local currencies in many markets around the world.
Since November 2021, the U.S. dollar index (DXY) has risen by 10.7%, which means that the currencies of many countries around the world are depreciating. Countries where Bitcoin has reached new local highs include economic powerhouses such as China, Japan, the United Kingdom and India, as well as developing markets such as Argentina, Turkey and Egypt. The yen fell 24%, meaning Bitcoin had already hit an all-time high in the country before this week’s surge.
Nansen analyst Aurelie Barther said: "US economic growth remains exceptionally strong compared to Europe, the UK and Japan, which is supporting the dollar. However, this is less clear going forward as we see To a string of weak U.S. consumption and housing data, the U.S. dollar index is pegged to cryptocurrency prices through interest rates."
▌Donald Trump's Cryptocurrency Portfolio Breaking $5 million
The value of crypto assets held by former U.S. President Donald Trump has increased significantly. According to Arkham data, Trump currently holds 340.531 ETH, worth slightly more than $1 million. In addition, he also owns 368.342 WETH, worth more than $1 million. However, the majority of Trump’s crypto wealth comes from his massive holdings of TRUMP tokens, totaling 579,281 worth $2.92 million. As of press time, TRUMP was trading at $5.04.
▌Apple plans to abandon its electric car plan and shift the team to generative AI
According to Apple reporter Mark Gurr Apple (AAPL.O) has canceled its decade-long electric car plan, Man said, citing people familiar with the matter. Apple's internal disclosure on Tuesday surprised nearly 2,000 employees involved in the project, people familiar with the matter said. The decision was made jointly by Chief Operating Officer Jeff Williams and Kevin Lynch, the vice president in charge of the effort, according to people familiar with the matter. The two executives told employees that the project would begin to wind down, and that many employees working on automotive development would be reassigned to the artificial intelligence unit, where those employees would focus on generative AI projects, which is increasingly important to the company. Priorities.
The Apple car team also has hundreds of hardware engineers and car designers who may also apply for jobs on other Apple teams. The company will lay off employees, but it's unclear how many will be laid off.
▌Bitcoin breaks through $64,000, up nearly 50% so far this month
Bitcoin breaks through $64,000 per coin , continuing to hit a new high since November 2021; it rose 13% within the day and has risen nearly 50% so far this month.
Policy
▌The U.S. SEC has solicited public opinions on the possibility of introducing Bitcoin spot ETF options trading
The U.S. Securities and Exchange Commission (SEC) has solicited public comments on the possibility of introducing Bitcoin spot ETF options trading. The development prompted a strong reaction from financial markets, with experts predicting regulatory approval could come as early as March. In a letter to the U.S. Securities and Exchange Commission on Friday, the New York Stock Exchange (NYSE) filed for a rule change that would allow trading in the Bitwise Bitcoin ETF (BITC), the Grayscale Bitcoin Trust (GBTC) and “anyone holding Bitcoin.” options trading on the Trust. The New York Stock Exchange said the Bitcoin spot ETFs qualify for options trading under U.S. exchange laws because they are commodity-backed exchange-traded products (ETPs). The NYSE said that all exchange standard rules and regulations will guide all aspects of the listing and trading of spot ETF options, including "listing standards, expiration dates, exercise prices, minimum increments, position and exercise limits, Margin requirements, customer accounts and trading suspension procedures. The SEC has formally acknowledged the NYSE’s latest filing, included the proposal in its official register, and invited the public to provide feedback over the next 21 days.
▌ South Korean financial authorities: The direction of approving BTC ETF has not yet been decided, but it is being considered and open
South Korea’s opposition Democratic Party announced its commitment to allow domestic issuance, listing and trading of ETFs, but the ruling People’s Power Party has While agreeing to the institutionalization of virtual assets, it warned that allowing ETF investment may hinder the development of domestic ETFs. There are strong concerns in the capital market. Although the Financial Services Commission, the competent authority, has not yet made a final decision on whether to allow it, it is expected that even after the election , related disputes will continue for some time. Regarding the approval of Bitcoin spot ETFs, the position of the financial authorities is that we have not yet decided on the direction, but we are open and considering it.
▌< strong>Shanxi Provincial Non-profit Affairs Office reminds: Be wary of illegal fund-raising in the name of "virtual currency"
The Shanxi Provincial Leading Group Office for Handling Illegal Fund-raising issued a reminder to introduce the characteristics of illegal fund-raising of "virtual currency" , to help people identify and avoid falling into scams. The so-called "virtual currency" is a specific virtual commodity that is not issued by a monetary authority, is supported by blockchain or similar technology, and is recorded electronically, mainly including Bitcoin etc., are new forms of currency that do not use physical forms as carriers. It is worth noting that our country currently does not recognize the legal status of "virtual currency", and any financing activities involving token issuance are illegal.
< strong>▌Court upholds fraud conviction of My Big Coin founder
The Court of Appeal upholds the fraud conviction of Randall Crater, who founded the cryptocurrency project My Big Coin and was sentenced to more than eight years in prison.
In a Feb. 23 filing with the 1st Circuit Court of Appeals, a three-judge panel confirmed more than a year later Randall Crater was convicted after a jury found the cryptocurrency founder guilty of four counts of wire fraud, three counts of unlawful currency transactions and one count of operating an unlicensed money transmission business. Appeal Judges Gustavo Gelpí, Jeffrey Howard and Julie Rikelman has expressed her opinion that Randall Crater should not get a new trial for his involvement in the cryptocurrency scheme.
▌U.S. Department of Justice appoints Unabomber prosecutor to lead new FTX Investigation
The U.S. Department of Justice’s Bankruptcy Division appointed prosecutor Robert J. Cleary of the “University Air Bomb” (UNABOM) case to lead the new FTX investigation. According to court documents, Cleary was asked to review the investigation involving FTX Potential conflicts of interest at bankruptcy law firm Sullivan & Cromwell. He has also been asked to review past investigations by FTX's new management team, creditors and government regulators, and examine whether other FTX employees were involved in fraudulent activity before its collapse in November 2022. It is reported that Cleary's appointment and investigation must be approved by Judge John Dorsey.
▌Coinbase once again filed for arbitration with the U.S. Supreme Court
Coinbase once again filed for arbitration with the U.S. Supreme Court, marking the For the second time, a cryptocurrency exchange has appeared in the high court. The arbitration had nothing to do with cryptocurrencies, but instead argued over how to handle customer disputes. Coinbase argued that arbitrators should decide where such conflicts should be handled, but lost in a lower court. and asked the judge to throw out those rulings and send the case back to a higher court for a new trial.
▌U.S. House of Representatives panel votes to reject controversial SEC custody guidelines
The U.S. House Financial Services Committee voted to pass a Resolution opposing the SEC’s controversial Staff Accounting Bulletin No. 121 (commonly known as SAB 121). SAB 121 requires regulated financial institutions to mark customers’ crypto assets on their own balance sheets. During the vote, 31 members of the two parties voted in favor and 20 members voted against. Each member also voted in favor of a bill that would provide the U.S. Secret Service with more resources to investigate illegal activity and cybercrime related to cryptocurrency.
It is reported that all members of the House of Representatives and the Senate must vote for the resolution to take effect. If it takes effect, it will prevent the US SEC from issuing similar guidance in the future.
Blockchain Applications
▌Pandora: The latest iteration of ERC-404 will be officially released soon
< p>ERC-404 project Pandora posted on the X platform that the latest iteration of ERC-404 will be officially released soon, and the "V2" version has been provided to developers through the official GitHub. It will be launched after a final audit by Trail of Bits.
▌NFT startup Arianee announces the launch of Layer 2 powered by Polygon
Paris, France-based NFT startup Arianee announces the launch of Layer 2 powered by Polygon 2. Specializes in the production of digital passports, which are used by more than 40 brands, including Breitling, Moncler, Yves Saint Laurent and Lacoste.
▌Slow Mist Cosine: The front end of the Tornado Cash IPFS version has backdoor code that hijacks deposit certificates
Slow Mist founder Cosine posted on the X platform that Tornado There is a backdoor code on the front end of the Cash IPFS version that hijacks deposit certificates, and due to governance attacks, the malicious proposal was quietly passed. The malicious code existed for almost two months; in these two months, some attackers' funds waiting to be mixed should have been hacked by this backdoor. blacken.
▌Parallel Network partners with Lido to introduce stETH deposits and native staking
Parallel Network announces partnership with Lido to bring stETH Deposits and native staking are introduced to Parallel Network’s full-chain L2. Parallel will provide stETH deposits for its L2 early access and native rewards through the Lido protocol. This move is designed to provide users with more opportunities to deposit and earn native rewards on the parallel network. s Choice.
▌The Aave community proposal proposes to increase the supply and lending limit of V3 Scroll
According to the community governance forum, the Aave community proposal It is recommended to increase the supply and borrowing caps of V3 Scroll. The proposal proposes to increase the wstETH supply cap from 520 to 700 and the WETH borrowing cap from 400 to 600.
▌SynFutures launches V3 version on the Blast mainnet and plans to launch native tokens within the year
Focus on crypto perpetual futures trading The decentralized derivatives exchange SynFutures has launched its V3 platform on the Blast mainnet. SynFutures has also launched a points reward program called Oyster Odyssey. SynFutures said its V3 users will also be eligible for the upcoming Blast airdrop.
SynFutures also plans to launch its own token this year, a source with direct knowledge of the matter said. When SynFutures raised $22 million in a Series B round of funding last October, it said at the time it was willing to launch its token as part of its roadmap for decentralized projects.
▌Metis will integrate Chainlink’s interoperability solution Chainlink CCIP
Ethereum L2 network Metis plans to integrate Chainlink’s Interoperability solution Chainlink CCIP, the team said that as part of this integration, the Metis bridge interface will be upgraded to leverage Chainlink CCIP as the official cross-chain infrastructure to power the canonical Metis token bridge, with an initial focus It bridges some mainstream stablecoins from the Ethereum main network to the Metis network.
Cryptocurrency
▌The market value of the stablecoin market has grown by more than US$4 billion in the past 30 days
According to Coingecko statistics, the stablecoin field is currently experiencing significant growth, with the current total market capitalization at $140.82 billion, an increase of $2.56 billion from $138.26 billion on February 24. Among them, the market value of USDT has risen from approximately US$96.52 billion to US$97.98 billion today, and the total supply has increased by 2.5% since January 24, 2024. On January 24, the market value of USDC was close to US$27.9 billion. On February 24, it had increased to US$28.14 billion. The supply of USDC has grown by 8.9% over the past 30 days. DAI has also risen from $4.84 billion to $4.93 billion in the past 10 days. Since January 24, FDUSD supply has grown by 25.2%, and the market capitalization has jumped from $2.83 billion on February 14 to the current $3.31 billion.
▌Fidelity and Accenture were in Paris last week to educate bank executives and asset managers about Bitcoin
According to a post on social media by Bitcoin Archive, Fidelity and Accenture hosted 100 bank executives and asset managers in Paris last week to learn more about Bitcoin and what to do as an institution. Be prepared.
▌BlackRock Spot Bitcoin ETF’s daily trading volume exceeded US$1 billion, ranking 11th among all ETFs
< p> According to data released by Bloomberg analyst Eric Balchunas, as of around 2:30PM EST on Monday, the daily trading volume of BlackRock Spot Bitcoin ETF (IBIT) has exceeded US$1 billion, ranking 11th among all ETFs. position (top 0.3%), ranking among the top 25 stocks.
Analysts said: “For a novice ETF, this is a crazy number (especially one of the ten competitors). One billion US dollars in daily trading is a very large level of trading volume. Sufficient (and even more so) for institutional consideration”.
▌The single-day trading volume of the U.S. spot Bitcoin ETF reached $3.2 billion, the second highest in history
Bloomberg Data compiled by analyst James Seyffart show that the single-day trading volume of U.S. spot Bitcoin ETFs, including Grayscale GBTC, reached $3.2 billion, the second highest in history. The largest transaction volume was on the launch day of these products, with $4.6 billion worth of transactions on that day.
Analysts stressed that volume does not equal flows and will see flow data later tonight and/or tomorrow.
▌The assets of four U.S. spot Bitcoin ETFs including ARKB exceed US$2 billion
Bloomberg analyst James Seyffart said that there are currently four U.S. spot Bitcoin ETFs with assets under management exceeding US$2 billion, namely: Grayscale’s GBTC, BlackRock’s IBIT, Fidelity’s FBTC, and Ark 21Shares’ ARKB.
▌El Salvador’s Bitcoin holdings are worth more than $147 million, with profits exceeding 40%
According to El Salvador’s President Nayib Bukele Posted on
It is reported that the average price of El Salvador’s cumulative holdings is US$44,292, and there are a total of 2,381 Bitcoins in the country’s treasury.
▌Bloomberg: Merrill Lynch and Wells Fargo offer spot Bitcoin ETFs to wealth management clients
Bloomberg quoted people familiar with the matter Merrill Lynch and Wells Fargo, the wealth management arm of Bank of America, are offering spot Bitcoin ETFs to wealth management clients, according to Bloomberg, underscoring the growing acceptance of such products by mainstream companies. A Wells Fargo representative confirmed that since the SEC approval, the spot Bitcoin ETF can be purchased actively through Wells Fargo Advisors or the bank’s online WellsTrade platform. Representatives for Bank of America declined to comment.
Morgan Stanley is evaluating adding a spot Bitcoin ETF to its platform, according to CoinDesk.
Important economic trends
▌Convertible bond fund managers are paying attention to gaming opportunities as conversion prices have been reduced intensively strong>
Since February 6, the equity market has experienced a rise. Affected by this, the convertible bond market also surged, and all convertible bond funds rose. Industry insiders said that convertible bonds are currently facing an opportunity to deploy on the left. In addition, since the beginning of this year, convertible bonds have intensively lowered their conversion prices, and relevant fund managers are also paying close attention to the investment opportunities this brings. There are currently 71 convertible bond funds on the market. Since the market rose this time, they have all achieved positive returns, with an average increase of more than 2%. The convertible bond fund with the largest increase was Minsheng Canada Bank Convertible Bond Selection, with an increase of 6.22%. Shanghai Banking Convertible Bond Select Bonds, Rongtong Convertible Bonds, and Ping An Convertible Bonds also rose by 4.59%, 4.52%, and 3.85% respectively.
▌U.S. stocks closed: Digital currency concept stocks led the market, with Coinbase rising more than 16%
U.S. stocks closed on Monday, The Dow Jones Industrial Average initially closed down 60 points or 0.16%, the S&P 500 Index fell 0.38%, and the Nasdaq Composite Index fell 0.1%. Digital currency concept stocks led the market, with Coinbase (COIN.O) rising by more than 16% and Marathon Digital (MARA.O) rising by nearly 22%. Arm (ARM.O) rose nearly 10%, and Google (GOOG.O) fell more than 4%. The Nasdaq China Golden Dragon Index closed up 0.72%, Li Auto (LI.O) closed up 18.7% after the results, Xpeng Motors (XPEV.N) rose nearly 7%, and NIO (NIO.N) rose nearly 5% %.
▌U.S. stocks closed: the three major stock indexes closed lower, and the concept of digital currency continued to rise actively
U.S. stocks closed on Wednesday, the Dow Jones Industrial Average , the S&P 500 ended slightly lower, and the Nasdaq fell 0.55%. The concept of digital currency continues to rise actively, with MicroStrategy (MSTR.O) rising by more than 10% and Coinbase (COIN.O) rising by 0.8%. The Nasdaq China Golden Dragon Index fell 1.6%, Baidu (BIDU.O) closed down 8% after the results, JD.com (JD.O) fell more than 5%, and Li Auto (LI.O) fell nearly 2%.
▌U.S. stocks closed: MicroStrategy rose more than 6%
U.S. stocks closed on Thursday, with the Dow initially closing up 45 points or more 0.1%, and the S&P 500 index rose 0.5%. The Nasdaq rose 0.9%. Nvidia (NVDA.O) closed up 1.8%, Arm (ARM.O) rose 5%, and AMD (AMD.O) rose 9%. Marathon Digital (MARA.O) closed down 16%, while MicroStrategy (MSTR.O) rose more than 6%. The Nasdaq China Golden Dragon Index fell 0.2%, Xpeng Motors (XPEV.N) rose 7.9%, NIO (NIO.N) rose 5%, and Li Auto (LI.O) rose more than 1%.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.
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