PA Daily | Binance Observation tag adds 10 tokens including AERGO, ALPACA, AST; Arthur Hayes firmly believes that it is still in a bull market cycle
Reprinted from panewslab
03/05/2025·1MToday's news tips:
Nasdaq has submitted 19b-4 application documents for Grayscale Hedera ETF
Binance adjusts the observation tag rules and adds 10 tokens including AERGO, ALPACA, AST, etc.
Binance HODLer Airdrop launches Phase 11 project - GoPlus Security (GPS)
Zora releases ZORA token economics: 10% for retrospective airdrop
Placeholder Partner: Now is the bull market pullback stage, not the top of this bull market
Arthur Hayes: Believe it is still in a bull cycle, with the worst case Bitcoin falling to $70,000
Regulatory/Macro
According to Cailianshe, the State Council’s Tariff Commission issued an announcement on the 4th stating that on March 3, 2025, the US government announced that it would further impose a 10% tariff on all Chinese goods imported to the United States on the grounds of fentanyl. The US's unilateral tariff imposition has damaged the multilateral trading system, exacerbated the burden on US companies and consumers, and undermined the foundation of economic and trade cooperation between China and the United States. With the approval of the State Council, from March 10, 2025, tariffs will be imposed on some imported goods originating in the United States. The relevant matters are as follows: 1. An additional 15% tariff is imposed on chicken, wheat, corn and cotton. 2. A 10% tariff will be imposed on sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables, and dairy products. 3. For imported goods listed in the annex originating from the United States, corresponding tariffs will be imposed on the basis of the current applicable tariff rates. The current bonded and exempted tax policies will remain unchanged, and the tariffs imposed this time will not be reduced or exempted. 4. If the goods have been shipped from the place of departure before March 10, 2025 and imported from March 10, 2025 to April 12, 2025, the tariffs imposed in this announcement shall not be imposed.
Mike Alfred, founder of Eaglebrook Advisors, a digital asset investment platform, posted on X platform: "There are reports that the Trump administration is preparing to announce the zero capital gains tax policy for cryptocurrency sales (i.e., cryptocurrency sales will be exempt from capital gains tax) at the cryptocurrency summit on Friday."
Nasdaq has submitted 19b-4 application documents for Grayscale Hedera ETF
According to Cointelegraph, Nasdaq submitted 19b-4 application documents, applied for listing and trade Grayscale Hedera ETF (HBAR).
Market crash in February triggered $500 million in ETH liquidation
According to The Block, the Ethereum lending market experienced its worst liquidation incident in 12 months in February, with nearly $500 million in collateral being liquidated. This is the second highest monthly liquidation amount in DeFi history, second only to the $670 million liquidation scale when the market crashed in May 2021. The surge in liquidation occurred simultaneously with a sharp decline in the market value of the entire cryptocurrency market, triggering a series of forced closing positions. These liquidations are mainly concentrated on two major lending platforms, Aave and Compound, which jointly handled most of the liquidations in February. While lending agreements are designed to handle liquidation through automated processes, the scale of the February event highlights how quickly market conditions deteriorate when overall market sentiment changes. For borrowers, this emphasizes the importance of maintaining a healthy mortgage rate and adequate buffering to withstand market downturns. Despite the huge liquidation volume, major lending platforms have shown resilience and operate as designed even under pressure. This operational stability represents an important maturity point in DeFi infrastructure, indicating that these protocols can handle large-scale deleveraging events without systemic risks.
Amouranth, a well-known online anchor, said she was robbed by a gunman and asked for cryptocurrency
According to Cointelegraph, late at night on March 2, the well-known online anchor Amouranth (real name Kaitlyn Siragusa) posted a series of posts on the X platform, saying that he had been robbed and the robbers asked him for cryptocurrency. On March 3, hours after her first post on X, she posted another update, saying there were three gunmen and attached a video suspected to be from a surveillance camera. Three loud noises came after she took the three men to another part of the property, and the three men ran out of the screen. In November 2024, Amouranth posted a screenshot of her Coinbase account, showing that she held about 211 bitcoins, which was worth $20 million at the time, equivalent to $86,535 per bitcoin. The screenshot also shows that she holds about $80,000 worth of Ethereum, which was priced at $2,161 at the time. Amouranth is known for revealing her financial situation, and has participated in a YouTube personal finance program and shared her earnings on various platforms.
According to The Block, the U.S. Securities and Exchange Commission (SEC)’s newly formed cryptocurrency task force will hold its first roundtable later this month as part of a series of meetings. The SEC said in a statement Monday that the meeting, titled “Our Past and Future – Defining Securities Status”, will be held on March 21 at the agency’s headquarters in Washington, D.C. This roundtable is part of a "Spring Sprint, Seeking Cryptocurrency Clarity" series. "I look forward to using public expertise to develop a viable regulatory framework for cryptocurrencies," Hester Peirce, a Republican member who leads the cryptocurrency task force, said in a statement. Peirce said she plans to prioritize some tokens as "non-securities."
NYSE Arca has submitted 19b-4 application documents for Bitwise Dogecoin ETF
NYSE Arca has filed a 19b-4 application document for the Bitwise Dogecoin ETF, which states in the "Text of Proposed Rules Changes" states that under Section 19(b)(1) of the Securities Exchange Act of 1934 and its sub-rule 19b-4, NYSE Arca proposes to list and trade shares of the Bitwise Dogecoin Exchange Trading Fund under NYSE Arca Rule 8.201-E (Commodity-based Trust Shares).
Trump: Peer-to-peer tariffs will begin on April 2
According to King Shih, US President Trump said that reciprocal tariffs will be implemented on April 2. Tariffs on Canada and Mexico will begin on Tuesday.
Yuga Labs announces that US SEC has officially concluded its investigation
Yuga Labs posted on X platform: "After more than three years of investigation, the Securities and Exchange Commission (SEC) officially ended its investigation into Yuga Labs. This is a huge victory for the NFT field and all the creators who are driving our ecosystem. NFT is not a securities."
Financing/IPO
AI company CoreWeave submits IPO application to raise $4 billion at a valuation of $35 billion
According to CoinDesk, CoreWeave, an AI company that works closely with Bitcoin mining company Core Scientific, submitted an IPO application today, with an expected financing of US$4 billion and a valuation of more than US$35 billion. The prospectus shows that the company achieved revenue of $1.9 billion in 2024, but suffered a net loss of $863 million due to AI-related investments. The company's cumulative losses have reached US$1.5 billion. CoreWeave has invited Core Scientific to assist in the construction of a 500 megawatt (MW) AI infrastructure. When CoreWeave was still in the Ethereum mining business, the latter was the former's largest GPU supplier.
AI startup Anthropic completes $3.5 billion in financing, with a valuation of $61.5 billion
According to Zhitong Finance Network, artificial intelligence startup Anthropic announced that it has officially completed a financing of US$3.5 billion, with the company's valuation reaching US$61.5 billion. The round of financing was led by Lightspeed Venture Partners, with $1 billion investing, and other investors include General Catalyst, Jane Street and Fidelity Management & Research Company. In addition, existing investors such as Menlo Ventures and Bessemer Venture Partners have also invested additionally in this round of financing. Anthropic's valuation surged in part due to the rapid expansion of the company's business. According to people familiar with the matter, the company's annual revenue operating rate was about $1 billion by the end of 2023, but it has increased by 30% this year. However, Anthropic did not comment on the specific revenue. The new financing will be used to develop next-generation AI models, expand computing power, strengthen AI security research, and promote expansion of Asian and European markets. Last week, Anthropic launched Sonnet, a more advanced AI model, and released a new AI agent that can automate software programming tasks. This move further demonstrates its cutting-edge innovation capabilities in AI R&D.
MEV infrastructure FastLane Labs completes $6 million financing, led by Figment Capital and others
MEV infrastructure FastLane Labs announced that it had completed a $6 million financing, led by Figment Capital and DBA, and participated by Coinbase Ventures, Robot Ventures, Hashkey Capital, CHORUS ONE and others. The new funds will be used to create all-round liquid staking tokens on Monad. According to reports, FastLane Labs is committed to building a long-term MEV ecosystem on Monad, so that users, dApps and stakeholders can benefit from it. Previously, in May 2023, FastLane Labs completed a US$2.3 million financing, led by Multicoin Capital.
Project News
Binance adjusts the observation tag rules and adds 10 tokens including AERGO, ALPACA, AST, etc.
Binance announced that it will adjust the update frequency of observation tags to once a month, and new projects will be added during the first week of each month. At the same time, the scope of observation tags will be expanded, with the following 10 new tokens: Aergo (AERGO), Alpaca Finance (ALPACA), AirSwap (AST), Badger DAO (BADGER), BurgerCities (BURGER), COMBO (COMBO), NULS (NULS), STP (STPT), UniLend (UFT) and VIDT DAO (VIDT).
Bybit co-founder and CEO Ben Zhou released the latest executive summary about hacker funds on X platform: the total amount of stolen funds is about US$1.4 billion, equivalent to about 500,000 ETH, of which 77% are still traceable, 20% are no longer trackable, and 3% have been frozen. Breakdown: 83% (417,348 ETH, approximately US$1 billion) have been converted into Bitcoin, involving 6,954 wallets (average 1.71 BTC per wallet). This week and next week are crucial for freezing of funds, as funds will begin to be cleared on exchanges, over-the-counter (OTC) and peer-to-peer (P2P) platforms. Hackers mainly use THORChain to convert Ether into Bitcoin: the number of ETH exchanged through the THORChain chain is 361,255, equivalent to US$900 million, accounting for 72%, which can be tracked. 79,655 ETH, accounting for about 16% of the funds, disappeared through the ExCH channel and is still waiting for updates. 40,233 ETHs, equivalent to US$100 million, accounting for 8%, are traded through the OKX Web3 proxy. Among them, 16,680 ETHs can still be tracked, while 23,553 ETHs, equivalent to US$65 million (about 5%), cannot be tracked, and information is required by OKX Web3. Bounty Update: A total of 11 parties helped Bybit freeze funds, among which the top three most outstanding performers are Mantle, Paraswap and ZachXBT. 2,178,797 USDT have been paid to 11 bounty hunters.
Binance HODLer Airdrop launches Phase 11 project - GoPlus Security (GPS)
According to the official announcement, Binance HODLer airdrop has now launched the 11th phase project - GoPlus Security (GPS). From 08:00 on February 19, 2025 to 07:59 on February 25, 2025 (East Eighth District time), users who use BNB to subscribe for guaranteed currency (regular and/or current) or on-chain currency earning products will receive airdrop distribution. HODLer airdrop information is expected to be launched within twelve hours, and the new tokens will be distributed to the user's spot wallet at least 1 hour before the transaction begins. Binance will list GPS at 21:00 on March 4, 2025 (East Eighth District Time), and open trading pairs for USDT, USDC, BNB, FDUSD and TRY, and seed label trading rules apply. The GPS recharge channel will be open in 2 hours. GPS HODLer airdrop details: Token name: GoPlus Security (GPS); Total supply of Genesis tokens: 10,000,000,000 GPS; Maximum supply of tokens: 10,000,000,000 GPS; Total tokens for HODLer airdrop: 300,000,000 GPS (accounting for 3% of the maximum supply of tokens); an additional 400,000,000 GPS will be allocated to Hodler airdrops in batches 6 months after the spot listing; detailed rules will be announced separately. Circulating supply at Binance when it was listed: 1,813,400,000 GPS (18.1% of the maximum supply of tokens).
Layer1 blockchain Cronos faces strong opposition over a proposal to restore the 70 billion CRO tokens destroyed in 2021. Early voting results on Mintscan showed that 95.7% of participants voted to reject the program. The vote is expected to end on March 17. In addition, Cryptoslate reported that CRO advocate Wyll Bilderberg said on the X platform: "Destruction is destruction, and the destroyed tokens should not be resurrected. I almost never object to anything that happened on Cronos, but today, I strongly oppose it! If this bill passes, it will only confirm that Cronos is highly centralized and therefore not trustworthy." Previously, yesterday's news, Cronos proposed to reissue 70 billion destroyed tokens to "create Cronos strategic reserves."
Zora releases ZORA token economics: 10% for retrospective airdrop
According to The Block, the general media registration protocol Zora announced in a Monday announcement that it will launch its Meme coin of the same name on the Optimism-based Base network in the coming months, with the upcoming token "for entertainment only" and will not grant holders the right to govern. The first snapshot of ZORA was taken on Monday, while the second snapshot is scheduled for three days before ZORA’s official airdrop and is expected to take place sometime in spring 2025. The total supply of the token is 10 billion, of which 26.1% are allocated to contributors, 20% are for incentives, 20% are owned by the vault, 18.9% are allocated to the Zora team, 10% are for traceable airdrops, and 5% are for maintaining liquidity. It is reported that Zora is a general media registration protocol built using the Optimism technology stack. The company was founded in 2020 and launched its decentralized, creator-centric Zora network in 2023. In May 2022, Haun Ventures led a $50 million round of financing from Zora, when the agreement was valued at $600 million.
Viewpoint
Placeholder Partner: Now is the bull market pullback stage, not the top of this bull market
Placeholder partner Chris Burniske tweeted that the current market sentiment is low and many people choose to sell at low points, but he believes it is an opportunity rather than an end. He believes that now may be just a pullback in the bull market, rather than the top of this bull market. Even if Bitcoin may still fall a little, selling now may not be a good choice, because it is easy to miss subsequent rises. He advises investors to stay calm and choose not to look at price fluctuations if they don’t know how to operate; if they still have funds, they can consider buying in batches when the market looks attractive or the mood is most pessimistic. He reminded not to trust those who "always trade perfectly", and the key is to hold potential assets for a long time. Burniske also mentioned that Bitcoin and crypto assets are at the fastest rate in the financial market. If the stock market fluctuates more, policies may intervene, and the crypto market will respond most sensitively. He encouraged investors not to miss out on opportunities due to fear or frequent operations, and was confident in the future of the blockchain industry, believing that institutional entry and technology applications are accelerating.
Adam Cochran: Trump has no right to unilaterally abolish crypto capital gains tax, only Congress can
In response to the rumors that Mike Alfred had previously released about "the Trump administration intends to announce a zero-capital gains tax policy for cryptocurrency sales at Friday's crypto summit," said Adam Cochran, partner at Cinneamhain Ventures. "Mike blocked me because I repeatedly checked his authenticity, but that doesn't stop me. The president cannot unilaterally modify the tax law. Only Congress can do so. It's one of the few Congressional powers clearly stipulated by the Constitution. Even if the president announces the decision, or tries to sign an executive order for it, it won't make it law. It's no more effective than I claim to be a cupcake."
Arthur Hayes: Believe it is still in a bull cycle, with the worst case Bitcoin falling to $70,000
BitMEX co-founder Arthur Hayes said in his latest blog post that although the U.S. stock market index is still close to its all-time high, Bitcoin has signaled that the liquidity crisis is approaching. Based on this, Hayes believes that the U.S. stock market will experience a serious correction due to concerns about the recession. Hayes pointed out that if Bitcoin leads the trend when the market falls, it will play a similar role when it rises. With huge leverage in the system, slight financial disturbances may quickly evolve into a full-scale panic. If his predictions are accurate, the Fed will act soon. Bitcoin will be the first to bottom out and rebound, while the fiat financial system dominated by the U.S. stock market will then fall into trouble. Hayes firmly believes that it is still in a bull cycle, so the worst case for Bitcoin is to fall back to the all-time high of the previous cycle. But he is not sure if it will fall to this level. A positive signal is the decline in the U.S. Treasury’s total account balance, which is equivalent to liquidity injection. Based on confidence in Trump's financial policies and its goals, Hayes increased exposure when Bitcoin trades in the range of $80,000 to $90,000. If it is just a "dead cat rebound", he expects Bitcoin to fall to a low of $80,000 again. If the S&P 500 or Nasdaq 100 index falls 20% to 30% from its historical highs, and a large financial institution is on the verge of bankruptcy, the global market may fall simultaneously, and all risky assets will suffer a setback, and Bitcoin may fall below $80,000 or even fall $70,000. Regardless of how the market fluctuates, Hayes said it will be cautious in buying on dips, not using leverage, and wait for the final fluctuation of the global (especially the United States) fiat currency financial markets, which will drive Bitcoin to $1 million or even higher. He concluded: “Keep focused and buy bitcoin.”
CryptoQuant CEO Ki Young Ju said the Bitcoin market may continue to remain sluggish before US market sentiment improves. At present, the on-chain activity is not significant, and the key indicators are neutral, indicating that the bull market cycle is still continuing. At the same time, Bitcoin's fundamentals are still strong, and more mining machines are being launched. He pointed out that if the bull market cycle ends here, it will be a result that all parties do not want to see, including veteran whales, mining companies, traditional financial institutions and even Trump. He also added that the market does not care about the impact of retail investors.
Important data
According to Binance market data, or affected by the new Binance Observation tag, tokens such as NULS, ALPACA, COMBO, etc. fell by more than 20% in a short period of time, including: COMBO fell 24.2% in a short time and is now quoted at US$0.2244; NULS fell 23.58% in a short time and is now quoted at US$0.1919; ALPACA fell 21% in a short time and is now quoted at US$0.0946; AERGO fell 20.1% in a short time and is now quoted at US$0.0739; BADGER fell 19.53% in a short time and is now quoted at US$3.047 Yuan; VIDT fell 19.17% in a short period of time and is now quoted at US$0.016; AST fell 16% in a short period of time and is now quoted at US$0.0581; UFT fell 15.12% in a short period of time and is now quoted at US$0.1353; BURGER fell 14.01% in a short period of time and is now quoted at US$0.3018; STPT fell 9.71% in a short period of time and is now quoted at US$0.09604. Previous news, Binance adjusted its observation tag rules and added 10 tokens including AERGO, ALPACA, AST, etc.
Ansem sells $2 million WIF and $1.06 million FARTCOIN, losing $294,000 and $31,000 respectively
According to Onchain Lens monitoring, 13 hours ago, Ansem (@blknoiz06) conducted two token sale transactions: one was to sell 2.97 million $WIFs for $2 million, losing about $294,000; the other was to sell 3.6 million $FARTCOINs for $1.06 million, losing about $31,000.
According to monitoring by on-chain analyst @ai_9684xtpa, the ancient giant whale of Ethereum IC0 560,000 ETH transferred 6,022 ETH to the Ethereum Foundation’s associated address more than two hours ago, about US$12.34 million. The funds have not been transferred or interacted yet. The IC0 giant whale has distributed ETH to 4 addresses, of which 105,522 ETH have been transferred to the current address in the past two years. Most of them are used for various LRT protocol pledges. Currently, 280,000 ETHs with a cost as low as US$0.31 are still stored in three addresses.
A giant whale that shorted ETH 50 times has now made a floating profit of US$78 million
According to on-chain analyst @ai_9684xtpa, a giant whale opened an Ethereum short position on Hyperliquid with 50 times leverage in January, and now has a floating profit of about $78 million. If Ethereum rises to $3,507.3, its corresponding position will be liquidated.
Regarding the position of Giant Whale "first set 10 big targets", according to the update released by the analyst @ai_9684xtpa on the link, according to the screenshots of group members last night, the Giant Whale seemed to close the position and take profit at around $90,000 BTC and turned its head to open too much. It also opened long positions for ETH: BTC: The opening price is $90,207, and the holding position is 2,069 ETH: The opening price is about $2,285, and the holding position is 10,800. According to this data, it has now lost $15.62 million.
According to OnchainLens monitoring, a giant whale has withdrawn a total of 20 million OMs (worth $143.1 million) from Binance in the past four days. Currently, these OMs are worth $138 million and have a floating loss of $4.7 million.
1.54 million UNIs continued to flow from Galaxy Digital to Binance and OKX 5 hours ago
According to on-chain analyst Ember Monitor, 1.54 million UNIs (about $11.17 million) continued to flow from Galaxy Digital into Binance and OKX five hours ago. In 12 days, the UNI (US$74.35 million) with up to 8.871 million were transferred from Galaxy Digital to Binance and OKX. UNI prices also fell 29% during this period ($9.5 to $6.7).
According to Lookonchain monitoring, a giant whale wallet holding more than 110,000 ETH ($235 million) appears to be selling ETH. In the past 14 hours, the wallet has transferred 30,000 ETH ($68.55 million) to FalconX and Galaxy Digital and received 7.76 million USDC from FalconX. This wallet may be related to Genesis Trading.
The hackers have cleaned up all 499,000 ETH stolen from Bybit, which took 10 days
According to on-chain analyst Yuchen Monitor, the hackers have cleaned up all the 499,000 ETH ($1.39 billion) stolen from Bybit, and the entire process lasted 10 days. ETH price fell 23% in the process (from $2,780 to $2,130 now). THORChain, the main channel for hackers to use money laundering, also obtained $5.9 billion in transaction volume and $5.5 million in handling fee income due to hackers' money laundering.
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