PA Daily | Bank of Korea has never considered including BTC in foreign exchange reserves; BNB chain transaction volume exceeds Solana in 24 hours
Reprinted from panewslab
03/17/2025·3MToday's news tips:
Jin Shi: The rumor of Trump may use sovereign funds to buy Bitcoin
Bank of Korea: Never considered including Bitcoin in foreign exchange reserves
US Treasury Secretary: No guarantee that the United States will not fall into recession
Brazilian MPs propose a bill to legalize Bitcoin payments
CZ: AI agents do not need to issue coins for each, they should pay attention to practicality.
BNB Chain surpasses Solana in 24-hour DEX trading volume
Solayer team transfers 6.9 million LAYERs to Binance, worth $8 million
Binance will launch StraitsX USD (XUSD)
Regulatory/Macro
Trump's ex-wife calls on U.S. president to "revoke lawsuit against Roger Ver"
According to Bitcoin.com, Marla Maples, the second wife of U.S. President Donald Trump, posted on social media platform X last Sunday, calling on Trump and his team to abandon their lawsuit against early Bitcoin investor Roger Ver. Videos related to Roger Ver's charity work have been widely circulated on the Internet, with multiple freedom advocates including Ryan Fournier, co-founder of Students for Trump. Last week, a group of international supporters released a video showing Roger Ver's charity-related video, with Trump's ex-wife Marla Maples reposting Fournier's post to her 61,500 followers on the X platform on Sunday. "Share more about calling for the withdrawal of the prosecution against Roger Ver," Maples added. In the news, she tagged U.S. Attorney General Pam Bondi, White House counsel Dave Warrington, Elon Musk and President Trump's @realDonaldTrump X account. Roger Ver was arrested in Spain in May last year and was charged by the United States with suspected mail fraud, tax evasion and filing false tax returns. He is known online as "Bitcoin Jesus" and is the former CEO of digital wallet developer Bitcoin.com.
Bank of Korea: Never considered including Bitcoin in foreign exchange reserves
According to South Korea's Economic Television, the Bank of South Korea has made it clear that it has "never considered including Bitcoin in foreign exchange reserves." In response to a written question from MP and member of the Program and Finance Committee Cha Guigen (transliteration), the Bank of South Korea said on the 16th, "We believe that we need to be cautious about the inclusion of Bitcoin in foreign exchange reserves." This is the first time that the Bank of South Korea has made a position on the issue of Bitcoin reserves. The first reason why the Bank of Korea is negative is the high volatility of Bitcoin prices. In response, the Bank of Korea pointed out: "If the virtual asset market becomes unstable, Bitcoin may face the risk of a sharp increase in transaction costs during the monetization process." In addition, the Bank of Korea also stated: "We do not believe Bitcoin does not meet the International Monetary Fund (IMF) foreign exchange reserve calculation standards." For these reasons, the Bank of Korea replied: "As of now, we have never discussed or considered including Bitcoin in foreign exchange reserves." The Bank of Korea also added: "It is understood that some countries such as the Czech Republic and Brazil have positive attitudes towards this, but the European Central Bank (ECB), the Swiss National Bank and the Japanese government have all expressed opposition."
US Treasury Secretary: No guarantee that the United States will not fall into recession
According to Kim Shi, after US President Trump refused to guarantee that the US economy would not grow negatively last weekend, the US Treasury Secretary also said in an interview on Sunday (16th) that there is no guarantee that the US economy will not fall into recession. However, Becent ruled out the possibility of a financial crisis in an NBC interview. Asked if there was a guarantee that there would be no recession during Trump's administration, Becent replied: "There is no guarantee. (Like) anyone can predict the COVID-19 pandemic?" Becent said he was implementing a lasting prudent policy, saying that the country needs to gradually get rid of what it calls large-scale government spending. Asked if the adjustment would lead to a recession, Becent said: "There is no reason to do so." Becent refuted concerns about the recent decline in U.S. stocks, saying that stock market corrections are healthy and that if the government implements good tax policies, relaxes regulation and energy security, the market will be in good condition.
Brazilian MPs propose a bill to legalize Bitcoin payments
According to The Crypto Basic, former Rep. Luiz Phillipe of Orleans-Braganza, a former federal Rep. Luiz Phillipe of Orleans-Braganza, has submitted a bill to the Brazilian Congress seeking to legalize Bitcoin salary payments. The politician proposed legislation allowing Brazilian workers to receive wages and labor rights in cryptocurrency. The bill aims to allow workers to receive up to 50% of their wages and benefits in the form of digital assets. It is worth noting that the bill does not mandate acceptance of Bitcoin, but provides a legal basis for residents who want to be exposed to emerging technologies. With the agreement of the employer, employees can choose to obtain labor rights in the form of Bitcoin and can terminate the payment method at any time. The bill also stipulates that 50% of salary still needs to be paid in Brazilian reals to ensure the practicality of the currency. However, this clause does not apply to freelancers, foreigners and self-employed persons, and related matters are regulated by the Brazilian Central Bank. The proposal must be approved by the House of Representatives plenary meeting and a majority vote before it can enter the Federal Senate for final review.
Viewpoint
CZ: AI agents do not need to issue coins for each, they should pay attention to practicality.
Binance founder CZ said on social media that although cryptocurrencies are AI's currency, not every AI agent needs to issue its own tokens. He suggested that agents can charge services through existing cryptocurrencies and consider issuing tokens only when they have scale. He stressed that the focus should be on practicality rather than the token itself.
According to Augustine Fan, head of SignalPlus, the recent Bitcoin sell-off is mainly triggered by multi-strategy hedge fund trading that dominates the macro market. These multi-strategy trading includes arbitrage, long-term and leverage operations, aiming to maximize returns across asset classes. In the Bitcoin market, the common multi-strategy trading method is basis trading, that is, by purchasing spot Bitcoin (usually through ETFs) and shorting Bitcoin futures, making profits. However, when the spread narrows or the market changes, the profits of basis trading drop, causing funds to exit positions and concentrated selling of Bitcoin and ETF shares. Fan noted that this liquidation pressure has amplified the sell-off in the past week, especially in the context of increased tariff-related volatility. Despite this, the "buy on dips" sentiment in the market still exists. Fan said stocks outside major large-cap stocks are still relatively stable compared to historical averages, and that hard economic data may outperform the rapid deterioration of soft data. Therefore, the market generally believes that it is still a "buy on dips" market and is expected to gradually digest the impact of tariff fluctuations.
Crypto analyst Nik Patel said the market will usher in five important interest rate decisions this week, including FOMC, but growth data such as retail sales on Monday may provide a more tactical market signal. If the data is lower than expected but the market continues last Friday’s rebound, it may indicate that growth panic has been fully priced and only serious tariff escalations can trigger new lows. On the contrary, if the data is better than expected, market sentiment may reverse due to the extreme pessimism before, and short-term risks tend to rise. Nik believes that if the data is lower than expected and the stock market hits a low, growth panic will still be the dominant one, but the next round of decline may become the bottom. It is expected that Q2 may usher in weak growth data being digested by the market and the gradual reflection of positive data. In addition, Nik predicts that the FOMC resolution has limited impact on the market.
Matrixport: Gold breaks through $3,000 or BTC hits $100,000, could trigger short-term consolidation
Matrixport said that gold prices broke through record highs, further strengthening Bitcoin’s “digital gold” narrative, a trend that has gradually emerged since gold broke through $2,000 in the summer of 2023. At present, gold is not only regarded as a hedge tool to combat US debt inflation, but also a safe-haven asset to avoid tariff risks. As institutions such as BlackRock promote Bitcoin's market sentiment, the status and momentum of Bitcoin and gold as alternative assets continue to increase. Although gold breaks through $3,000 or Bitcoin hits $100,000, may trigger a short-term consolidation, the overall uptrend is expected to continue.
Jin Shi: The rumor of Trump may use sovereign funds to buy Bitcoin
According to King Shi, US President Trump previously signed an executive order, ordering the U.S. Treasury and Commerce Department to set up a sovereign wealth fund within the next 12 months, and will be managed by Michael Grimes, a former Morgan Stanley technology investment banker. The fund is expected to be mainly tariffs. There is currently rumors in the currency circle that Trump may use sovereign wealth funds to buy Bitcoin. Despite this, Bitcoin not only did not receive a boost on the 17th, but fell by more than 1% during the session.
Cobo co-founder and CEO Shenyu posted an analysis on the X platform that Strategy (MSTR) amplifies Bitcoin's high volatility by 2.5 times through clever design. Professional institutions use this high volatility to arbitrage and obtain short-term profits; MSTR obtains cash through the issuance of convertible bonds and ATMs to hoard Bitcoin in large quantities; common shareholders bear the risks of severe stock price fluctuations and short-term declines, but passively obtains "bitcoin income" of each share; Bitcoin holders benefit from the continuous market inflow and rising Bitcoin prices.
Project News
Binance will launch StraitsX USD (XUSD)
Binance announced that it will launch StraitsX USD (XUSD) at 16:00 Beijing time on March 19, and open the XUSD/USDT spot trading pair.
Aave Labs founder clarified: Based on the DAO consensus, there is no plan to launch new tokens
According to The Block, Aave Labs founder Stani Kulechov clarified on Sunday that new tokens will not be created for Aave’s proposed product Horizon. The company recently proposed Horizon, aiming to integrate real-world assets into decentralized finance, sparking debate in the Aave community. Temperature Check invites the community to provide feedback on Horizon's RWA product launch for institutions. The controversial part of the proposal suggests that if the token is created, Aave DAO may receive a 15% distribution as well as a revenue sharing arrangement. This raises concerns: new tokens may dilute the value of existing AAVE tokens and undermine the focus of AAVE as the sole governance and practical token. The opposition was so strong that Marc Zeller, who was of Aave Chan Initiative, publicly stated that he would not support the proposal in the current form. Kulechov clarified the situation to X, saying Aave DAO is not interested in introducing additional tokens, and developers will respect that consensus. Due to the cancellation of the token plan, it is not clear whether Aave Labs will continue to deploy Horizon.
WEMIX suffered a hacker attack that lost about $6.22 million in late February
WEMIX, a chain game platform under the Korean listed gaming company Wemade, disclosed a hacking incident on March 4, saying: "On February 28, 2025, about 8,654,860 WEMIX tokens were abnormally withdrawn due to malicious external attacks on Play Bridge Vault." WEMIX said it had taken immediate action to prevent further damage and cooperated with law enforcement and tracked the attackers. On March 13, the WEMIX Foundation implemented 20 million WEMIX tokens to mitigate market impact. In addition, according to Yonhap News Agency today, Wemix suffered about 9 billion won (about 6.22 million US dollars) in the hacking incident on February 28. In response to the outside world's accusation of its delay in the announcement, the Wemix Foundation emphasized that "there has never been any idea or attempt to conceal the hacker attack."
BNB Chain surpasses Solana in 24-hour DEX trading volume
According to Cointelegraph data, BNB Chain surpassed Solana in 24-hour DEX trading volume. In the past 24 hours, the transaction volume of BNB Chain Ecological DEX reached US$1.636 billion, and the transaction volume of Solana Ecological DEX was approximately US$1.077 billion.
Important data
Data: More than 134 million USDC transferred from Binance to unknown wallet
According to Whale Alert monitoring, 134,607,656 USDC (approximately $134,590,292) were transferred from Binance to an unknown wallet at 16:17.
Solayer team transfers 6.9 million LAYERs to Binance, worth $8 million
According to OnchainLens monitoring, the Solayer team transferred 6.9 million LAYERs (worth $8 million) to Binance in the past hour.
A trader earns $1.5 million in profits by trading MUBARAK tokens at $1,155
According to OnchainLens monitoring, a trader made $1.5 million in profits in just four days. Four days ago, the trader spent 2 BNBs ($1155) to buy 20.84 million MUBARAK tokens. So far, the trader has sold 7.84 million MUBARAKs in exchange for 4.7 BNBs ($2,710), and still holds 13 million MUBARAKs worth $1.5 million.
According to Lookonchain monitoring, a giant whale continued to short the ETH/BTC trading pair. The giant whale extracted 3644 cbBTC (worth $304 million) from Coinbase and deposited 3034 cbBTC (worth $253 million) into Aave. 79,638 ETH (worth $152 million) were then borrowed from Aave and deposited into Coinbase.
US spot Bitcoin ETF reduced its holdings by 55,348 bitcoins in just 35 days, worth US$4.58 billion
According to Bitcoin.com, the latest data shows that the US spot Bitcoin ETF has reduced its holdings of 4.76% of its Bitcoin holdings since February 6, 2025. From January 1 to February 6, the funds added about 56,802.86 bitcoins to their balance sheets, but positions have decreased by 55,348.00 bitcoins over the past 35 days. As of March 14, the total value of Bitcoin held by these funds was US$93.25 billion, accounting for about 5.6% of the total market value of Bitcoin. BlackRock's IBIT consolidated its lead with a net inflow of $39.24 billion and a holding of 568,559.37 Bitcoins. Fidelity's FBTC followed closely behind, with a total inflow of US$11.25 billion and a holding of 194,269.83 Bitcoins. Meanwhile, Grayscale's GBTC ranked third with 193,870.05 bitcoins despite recording a net outflow of $22.5 billion. These three giants - IBIT, FBTC and GBTC - account for 85.26% of the 1.121 million Bitcoin holdings of the entire ETF group. While 12 spot Bitcoin ETFs are currently operating in the market, the 13th competitor may join the competition. On February 14, Osprey Funds submitted a draft registration for its Osprey Bitcoin Trust (OBTC) Form S-1 to the US SEC. As of March 16, 2025, OBTC has not yet obtained the SEC's approval, but according to timechainindex.com, the fund has held about 1,934 bitcoins, worth up to $160 million.
According to the monitoring of the on-chain analyst Yuchen, BTC's sudden rise last night did not clear out the "Hyperliquid 50x giant whale". Now the price of BTC has fallen back to around $82,000. So the giant whale's BTC shorting has now earned $8.3 million: the number of shorting BTC is as high as 5,608, worth $460 million. The cost is $83,923 and the liquidation price is $85,803. In addition, he opened 3.39 million more MELANIA (about $2.4 million) an hour and a half ago for $0.69.
Financing
According to Financial Tech Times, mini-gaming platform PlaysOut completed a $7 million seed round of financing at a $70 million valuation. OKX Ventures, KBW Ventures and Pacific Century Group participated in the investment. The financing allows the company to focus on three key missions: expanding its mini-game ecosystem, securing strategic partnerships, and penetrating high-growth markets in the United States, the Middle East and North Africa, and Asia. According to reports, PlaysOut is a mini game platform that embeds infrastructure such as blockchain functions to help developers release mini games on superAPP platforms such as Telegram, Discord and YouTube.
Gamebeast brand updated to Ephyra and completes US$10.5 million Series A financing
Web3 gaming platform Game Beast announced its brand upgrade, officially renamed Ephyra, and will focus on the construction of the game ecosystem empowered by AI Agent. At the same time, Ephyra completed a US$10.5 million Series A financing, led by BECKER Ventures, and participated in the investment in the UAE and Hong Kong many Family Offices. The Ephyra ecosystem will launch a number of AI-powered gaming products and plans to launch token TGE, and more details will be announced one after another. Previously, Web3 gaming platform Game Beast completed a seed round of $2 million.
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