Important information last night and this morning (March 10-March 11)
Reprinted from panewslab
03/11/2025·2M
El Salvador signs cryptocurrency regulation agreement with Paraguay
According to CoinDesk, El Salvador has reached a cooperation agreement with Paraguay on cryptocurrency regulation, the second international cryptocurrency regulatory agreement signed in three months, after which it had previously reached a similar agreement with Argentina. The agreement was signed by Paraguay's anti-money laundering agency SEPRELAD and the El Salvador National Digital Assets Commission (CNAD) on Friday to strengthen cooperation between the two parties in crypto industry regulation, unauthorized crypto business detection and anti-money laundering compliance. It is worth noting that the Central Bank of Paraguay has previously stated that cryptocurrencies have not obtained their authorization, reminding the public to be cautious in interacting with non-regulatory entities. The agreement could mean Paraguay is considering drawing on El Salvador’s single digital asset regulatory system.
According to Embers, Maker will update the oracle price to $1,806 at 10 o'clock. If ETH fails to rebound above the giant whale's liquidation price before this, or the account fails to replenish collateral, its position will face forced liquidation. Earlier today, a giant whale/institution urgently added collateral, but the risk of ETH liquidation has not been lifted.
Longling Capital transfers 21,000 ETH to Binance, about $38.81 million
According to Ember Monitoring, Longling Capital transferred 21,000 ETH (about $38.81 million) to Binance 15 minutes ago.
The total transaction fees generated by Solana network last week were only 53,800 SOL, the lowest since September 2024, down 10% from the previous week, according to The Block. Of these, 77% of the fees came from the "acceleration fee" paid by users to validators (Jito prompt fee), which has dropped significantly from the peak period of $TRUMP and $MELANIA meme coins (the fourth week of January). The 7-day average (7DMA) of the number of active addresses on the Solana chain also fell by 35% during the same period, causing the SOL price to fall by about 50% since January 20. In addition, the token “graduation” rate on the Pump.fun platform in the Solana ecosystem (migrating from Pump.fun to Raydium DEX) has dropped to 0.89%/day, well below 1.6%/day in January.
BTC fell below $77,000, down 3.80% intraday
According to the Ouyi OKX market, BTC has just fallen below $77,000 and is now at $76,996.10 per coin, down 3.80% during the day.
According to Onchain Lens monitoring, Mt. Gox has just transferred 11,502 BTC (about $905 million) to an unknown wallet. The move may be related to the exchange's creditor repayment plan.
In order to avoid liquidation, a giant whale sold 25,800 ETH, and lost leverage to US$31.75 million.
According to Ember Monitoring, a giant whale faces liquidation risks due to leverage long ETH and has to sell 25,800 ETH (about 47.81 million USDT) to lower the liquidation line. The sale happened five hours ago, when the ETH price fell to $1,853, further exacerbating the downward pressure on the market. The giant whale's ETH was originally bought through leverage at an average price of $3,084 in July 2024, and the leverage part alone had a loss of $31.75 million.
According to the latest GENIUS Act 2025, the updated bill specifically expands the “Reciprocity for Payment Stablecoins Issued in Overseas Jurisdictions”. The U.S. Treasury Secretary was asked to reach bilateral agreements with countries with similar stablecoin regulatory frameworks to ensure coordination of reserve requirements, oversight, anti-money laundering and counter-terrorism measures, sanctions compliance standards, liquidity requirements and risk management standards. The reciprocity arrangement needs to be completed within two years of the bill's entry into force to facilitate international transactions and enhance interoperability with USD-denominated overseas payment stablecoins. In addition, the bill clearly excludes licensed payment stablecoin issuers from the scope of "commodities" defined in the Commodity Exchange Act, and further clarify regulatory responsibilities.
US stocks Black Monday: Nasdaq plummeted 4% Tesla plummeted 15%
U.S. stocks fell sharply on Monday due to concerns about the ferment of negative emotions such as US economic recession, with the Dow Jones Industrial Average initially closing down 2%, the S&P 500 fell 2.7%, and the Nasdaq fell 4%. Tesla (TSLA.O) plummeted 15.4%, Apple (AAPL.O) fell nearly 5%, and NVDA (NVDA.O) fell 5%. Among blockchain concept stocks, Hut 8 fell 15.03%, Canaan Technology (CAN.O) fell 14.17%, MicroStrategy (MSTR.O) fell 16.68%, and Coinbase (COIN.O) fell 17.58%.
Coinbase will launch Cookie DAO (COOKIE)
Coinbase Assets said on the X platform that it will add support for Cookie DAO (COOKIE) on the Base network. Do not send this asset through other networks, otherwise your funds may be lost. The specific transaction start time has not been disclosed.
Coinbase to launch 24/7 Bitcoin and Ethereum futures contracts in the United States
According to an official Coinbase announcement, in the coming weeks, Coinbase Derivatives, LLC, a futures exchange regulated by the U.S. Commodity Futures Trading Commission (CFTC), will launch 24/7 Bitcoin and Ethereum futures contracts, allowing American traders to manage risks and seize opportunities at any time like trading cryptocurrencies. Coinbase is also developing a perpetual futures contract to fill key products that American traders have long lacked. These innovations are designed to respond to strong demands from cryptocurrency native traders, making the U.S. market more accessible, competitive, and in line with global standards.
Movement public mainnet beta version has been launched
According to official news, the Movement Network Foundation announced that the Beta version of Movement Public Main Network has been launched, and the MOVE token is the native Gas token of Movement Network. Official bridges powered by LayerZero have also been launched simultaneously, and users can bridge MOVE, USDT, USDC, WETH and WBTC between Movement and Ethereum. It is reported that the Dapp features that were opened on the first day of the online launch include: bridging MOVE with the official bridge; pledging MOVE on Thunderhead, Meridian or Movernance; purchasing NFT on Tradeport or publishing a collection; depositing assets into Canopy for profit; borrowing on MovePosition or Echelon; trading on Yuzu or Warpgate; issuing tokens on move.fun or warpgate.fun; launching an AI agent on DeAgentAI, or interacting with an agent on RNDM; minting an AI art NFT or uploading a model on CoScript; making predictions on BRKT; In addition, according to the officially released roadmap, Movement Network The rapid end mechanism is about to be launched, and other functions including decentralized shared sorters are under development.
According to Cointelegraph, the total value of cryptocurrency (TVL) locked in the DeFi protocol has completely given up on previous gains since Trump was elected President in November 2024. Analyst Miles Deutscher pointed out that since the U.S. election, DeFi TVL soared to $138 billion on December 17, but fell back to $92.6 billion by March 10. As the meme coin craze subsided, Solana became the target of public criticism, but Ethereum also faced challenges in recent cycles and failed to hit an all-time high, while Bitcoin broke through $109,000 on the day of Trump's inauguration (January 20). DefiLlama data shows that Ethereum's TVL has fallen by $45 billion from its cyclical highs. Despite positive developments in the industry, such as the launch of appearing ETFs in the United States and Trump’s executive order to establish strategic Bitcoin reserves, Ethereum’s all-time high of $4,787 set in November 2021 has not been broken so far.
UK Treasury: "No plan" to introduce American-style Bitcoin reserves
According to the news of the Jinshi recruitment market, the British Ministry of Finance said there is no plan to introduce American-style Bitcoin reserves.
MyShell released an official statement on Binance announcement and SHELL repurchase plan: "On March 7, we received a notice from the Binance team that one of our market makers was involved in violations. In response, we immediately terminated our cooperation with the market maker and introduced several new partners to ensure stable liquidity. All Binance accounts related to the market maker have been suspended and their remaining assets will be transferred to our new market maker. In addition, all stablecoins sold by the market maker will be used to repurchase SHELL within 90 days. To ensure full transparency, we will publish the wallet addresses related to the repurchase for verification by community members. In addition, we are working closely with Binance to ensure openness and transparency in this process."
Thai regulators add stablecoins USDC, USDT to approved cryptocurrencies
According to CoinDesk, Thailand's financial regulator, the Securities and Exchange Commission (SEC), is expanding its approved cryptocurrency list, using two major stablecoins, Tether's USDT and Circle's USDC, as trading pairs for digital asset exchanges. Prior to this, the regulator approved only certain tokens used in BTC, ETH, XRP, XLM, and Thai bank settlement systems. The move was made after a public consultation in February, during which most respondents supported the proposal. The new regulations will come into effect on March 16.
Thai regulators recognize Tether's USDT as a licensed cryptocurrency
According to the official blog, Tether announced that the Securities and Exchange Commission of Thailand (SEC) has accepted USDT as an approved cryptocurrency. The approval means that USDT can conduct legal transactions in Thailand, paving the way for USDT to list on regulated exchanges in Thailand, and also laying the foundation for the widespread use of USDT in the payment field in Thailand.
Strategy submits prospectus to issue up to $21 billion in preferred shares
Strategy (formerly MicroStrategy) has submitted a prospectus and plans to issue 8.00% Series A permanent execution preferred shares worth up to US$21 billion. The offering is intended to raise funds for general purposes, including the possible acquisition of Bitcoin. MicroStrategy intends to continue its strategy of accumulating Bitcoin, leveraging the proceeds of equity, debt financing and operating cash flow. The document does not mention any new Bitcoin acquisitions, but highlights the company's ongoing commitment to its Bitcoin strategy.
Crypto executives suggest: Consider using Bitcoin for Trump's "gold card"
According to Kingsen, BTC Inc. CEO David Bailey, one of dozens of insiders invited to attend the recent Trump crypto summit, proposed on social media that the president’s two ideas could be combined to increase crypto reserves without spending a penny. Bailey said many elites in emerging markets want to live in the United States, but it is difficult to transfer $5 million abroad. Bitcoin provides a simpler, safer, and more prudent solution that should be considered, and Trump’s proposed “gold card” plan can be paid in bitcoin. If the government does take this measure, it should send another clear signal to the world that the United States is serious about incorporating Bitcoin into its internal policies.
Singapore Exchange plans to launch Bitcoin perpetual futures contract in the second half of 2025
According to Bloomberg, Singapore Exchange Ltd. plans to launch Bitcoin perpetual futures, a move by traditional exchanges to further deepen their cryptocurrency derivatives market. A spokesman for the Singapore Exchange said the company intends to launch the contracts in the second half of 2025, and the company will strictly target institutional clients and professional investors and prohibit retail investors from trading these tools. The Singapore Exchange wants to be a bridge between regulated financial markets and the laissez-faire world of cryptocurrency trading. A spokesman for the company said they believe the products it offers will "significantly expand access to the institutional market." These planned products are still awaiting approval from the Monetary Authority of Singapore.
Market News: Japan's cryptocurrency reform bill will be submitted to Congress after cabinet approval
According to the news that Kim Shi's recruitment market, Japan's cryptocurrency reform bill will be submitted to Congress after the cabinet is approved.
According to Decrypt, Geoff Kendrick, global head of digital asset research at Standard Chartered, proposed that the U.S. government can buy bitcoin in several budget-neutral ways when implementing President Trump’s latest executive order. Kendrick elaborated on these strategies, noting that they will avoid "extra costs to U.S. taxpayers" which Trump had banned when he established a strategic Bitcoin reserve on Thursday. Kendrick wrote in a research note last Friday that the Trump administration could "sell gold" and use what the U.S. Treasury Department calls the exchange rate stability fund (ERF), or include budget neutral plans in the 2024 Bitcoin Act proposed by Senator Cynthia Lummis. According to the World Gold Council data, the U.S. government currently holds 8133.46 tons of gold reserves. At current prices, the gold batch is worth approximately US$758 billion.
According to Bitcoin.com News, the Cayman Islands has updated its cryptocurrency regulatory framework and has developed new licensing regulations that will take effect from April 1, 2025. Under the Virtual Assets (Service Providers) (Amendment) Ordinance 2025, all entities that provide virtual asset custody and trading platform services are required to obtain a license issued by the Cayman Islands Financial Authority (CIMA). Existing Virtual Asset Service Providers (VASPs) must submit a license application within 90 days of the effective date. As part of the application process, crypto asset custodians must disclose the type and quantity of virtual assets they intend to hold for their clients, while trading platform operators are required to provide detailed information on the expected revenue and where they are located.
According to CoinShares' latest weekly report, digital asset investment products have experienced capital outflows for the fourth consecutive week, with a total amount of US$876 million. Although this indicates a slowdown in outflows, investor sentiment remains bearish. The cumulative outflows of funds during this period have now reached US$4.75 billion, reducing the inflows so far this year to US$2.6 billion. Affected by the dual impact of falling prices and ongoing capital outflows, the total asset management scale (AuM) fell from its peak to $39 billion to $142 billion, the lowest since mid-November 2024. Regionally, U.S. investors were the most bearish, withdrawing $922 million, while most other regions viewed this as a buying opportunity, most notably Switzerland, Canada and Germany, with inflows of $23 million, $14.7 million and $13.3 million, respectively. Bitcoin was the main focus, with $756 million outflows last week, although short Bitcoin also saw $19.8 million outflows, the largest outflow since December 2024. Various altcoins have also appeared outflows, most notably Ethereum ($89 million), Tron ($32 million) and Aave ($2.4 million). Instead, Solana, XRP and Sui continued to inflow, with totals of $16.4 million, $5.6 million and $2.7 million, respectively. Blockchain-related stock ETPs have also failed to get rid of negative sentiment, with $48 million flowing out of funds last week.
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