PA Daily | CZ "shouting order" Mubarak in Binance Square; VanEck applies to the US SEC to launch Avalanche ETF
Reprinted from panewslab
03/15/2025·3MToday's news tips:
1.VanEck applies to the US SEC to launch Avalanche ETF
2.CZ released meme pictures with Mubarak in Binance Plaza and rose by more than 150%
3. "Crypto Tsar" David Sacks sold over $200 million in digital assets through his individuals and his company before taking office
4. Hong Kong Ya Holdings has changed its board of directors and executives, and the new CEO has more than 10 years of experience in the crypto industry
5.Shardeum launched airdrop activity before the main network was launched, and now it has launched airdrop registration
6.RedStone announced the launch of DRILL plan, intending to allocate 4.5% of the RED supply to its core users
7. Binance Wallet announces the launch of exclusive TGE, and early project applications are now open
8.IOST: Snapshot shooting has been executed, and the airdrop query portal is scheduled to be launched on April 1
Regulatory/Macro
According to Brazilian media O Globo, Brazil plans to simplify international financial transactions in import and export contracts between BRICS member states by using blockchain technology. This issue will become one of the priority issues during the term of Brazil's rotating presidency. Brazil's rotating presidency will last for one year starting from January 2025. The proposal is different from the previous proposal to create a common currency of the BRICS countries. Sources said the move was not intended to create a foreign trade standard trading currency that competes with the US dollar. The focus this time is on improving the efficiency of international transactions, which can be achieved through a technology closer to the immediacy and programmability of cryptocurrencies, which have been widely used in informal occasions.
One of the main practical moves to introduce blockchain into a regulated traditional financial system is Drex, the pilot project of the Central Bank of Brazil (BC). The project creates a tokenized infrastructure for trading financial assets. One of the use cases Drex is looking at is cross-border transactions. However, the project faces a challenge of how to maintain privacy while ensuring the central bank’s control over transactions in a decentralized digital environment. If blockchain technology is not adopted, another option is to create an integrated network system similar to Pix. However, this approach has raised concerns about the governance rights and sovereignty of relevant countries.
According to a memorandum dated March 5, U.S. AI and cryptocurrency Tsar David Sacks sold over $200 million in digital assets through his individual and his company Craft Ventures before taking office to reduce potential conflicts of interest. Of these, at least $85 million is directly attributable to David Sacks, but Craft Ventures still holds some fund investments involving crypto assets.
Sacks sold all its holdings of Bitcoin, Ethereum and Solana and cleared its shares in the Bitwise 10 Crypto Index Fund, Coinbase and Robinhood. In addition, he has also begun to withdraw from limited partnership interests in crypto investment funds such as Multicoin Capital and Blockchain Capital. It is also divesting its minority stake in Animoca Brands Co., Open Deal Inc. and Amalgamated Token Services Inc.
Previous news , "crypto czar" David Sacks confirmed that he had sold all cryptocurrency positions before taking office as the US government.
According to market news, Kentucky's cryptocurrency bill HB701 has been passed in the Senate and sent to the governor for signature. The bill protects custody rights, exempts nodes from currency transfer rules, and prohibits new taxes on payments. The bill was passed in neither house.
Viewpoint
Zhao Changpeng posted on the X platform that its Web3 education platform GiggleAcademy will soon launch the "recommended earn points" function, but does not involve cryptocurrencies.
Analysis: Stablecoin supply growth indicates that Bitcoin bull cycle may not be over yet
IntoTheBlock posted on X platform: "Stablecoin data shows that the crypto market has not peaked. Historically, the peak of stablecoin supply is consistent with the cyclical highs. In April 2022, the supply reached $187 billion — just when the bear market began. Now it has reached $219 billion and is still rising, which suggests we may still be in the mid-cycle."
CryptoQuant: Bitcoin demand continues to weaken since December
On-chain analytics platform CryptoQuant tweeted that it is witnessing the weakest Bitcoin demand this year. Compare new supply to supply that has been idle for more than a year to understand current demand dynamics. When this ratio is below 0, it indicates that the demand has become negative, which means that the number of bitcoins actively acquired is reduced. It can be seen that demand has been weakening since December and has continued to decline over time. This suggests that investors have become more cautious in the context of ongoing political and economic uncertainty, and may turn to less risky assets.
Hari, a former Ethereum Foundation engineer, said that the lack of clear and cohesive vision of Ethereum and EVM has prevented EVM from making progress. It believes that Ethereum needs more decisive leadership, and without such improvements, the only viable path is “steadiness. In addition, Ethereum needs to focus less on research and more on delivery. At this time, Ethereum should reflect on what went wrong in the past five years and work hard to solve it. If Ethereum operates exactly the same way as the past five years, without any changes, it will produce the exact same results.
10x Research: Bitcoin is "very likely" to consolidate again for 8 months
Markus Thielen, chief cryptocurrency researcher at 10x Research, said Bitcoin is “very likely” to repeat the trend in 2024, entering a long period of oscillation after hitting an all-time high. It hit an all-time high of $73,679 in March last year before entering a consolidation phase that had been fluctuating around $20,000 before Donald Trump was elected as U.S. president in November. Bitcoin’s technical graph is similar to the “high and tight flag” and, although usually a bullish continuation pattern, also shows signs of weakness. Meanwhile, the spot Bitcoin exchange-traded fund (ETF) market has shown no signs of a "buy on dips" mentality.
Project News
Layer1 blockchain Shardeum is preparing for the launch of the mainnet and has launched structured airdrop activities for early contributors. A total of 5.5 million SHM tokens will be distributed to 63,000 eligible wallets, and the airdrop is divided into two different stages, each targeting a different contributor group: Phase 1 rewards users participating in Liberty Alphanet and Sphinx Betanet from February 2022 to June 2024. The snapshot was taken on June 22, 2024, with a total of 3.3 million SHMs allocated. Phase 2 is mainly aimed at those participating in Shardeum’s Atomium Incentive Test Network between June 2024 and March 2025, and took snapshots on March 1, 2025, with a total of 2.1 million SHMs allocated.
In addition, Layer1 blockchain Shardeum announced on X platform today that SHM token airdrop registration has now been launched. Eligible users who registered within the first 7 days will receive the allocation at TGE. SHM airdrop registration ended at 07:59 Beijing time on April 14, 2025. According to its recently released update token economics , the uses of SHM include staking functions, rewards and Gas functions. Its initial supply is 249 million, of which 36.72% are used for sales (after 3 months of lock-up period, daily linear unlock within 2 years), 30.6% are allocated to the team (after 3 months of lock-up period, daily linear unlock within 2 years), 22.44% are allocated to the foundation (unlocked at TGE), and 10.23% are allocated to ecosystems and airdrops (unlocked at TGE). Similar to Ethereum, validator rewards will be generated dynamically based on network demand, and SHM is expected to show a deflationary trend over time due to 100% destruction of all fees.
DeFi oracle RedStone announced the launch of the RedStone DRILL program on the X platform, which will allocate 4.5% of the RED supply to RedStone core users to reward early adopters of RedStone technology and inspire rapid growth in the RedStone ecosystem. DRILL's program is built through five strategic pillars to create lasting impacts: development, reinforcement, innovation, launch, and learning.
1. Development pillars account for 15% of DRILL allocations, used to incentivize early adopters and reward communities for embracing cutting-edge assets; six months after the RED Token Generation Event (TGE), these tokens will flow into the allocation contract; partner agreements can connect their fund pools, and the token allocation speed will be expanded based on their total locked value (TVL). 2. Strengthening pillars account for 60% of DRILL allocation to enhance the security and robustness of data sources throughout the ecosystem; these funds will be deployed into the Eigen pledge vault six months after TGE to enhance security while gradually releasing income to users of the protected fund pool; in the potential situations where the recorded price source failure results in damage, this part of the funds can be used as potential insurance compensation. 3. Innovation pillars account for 20% of DRILL allocations, and these funds will enter the allocation contract six months after TGE, and the partner agreements can be allocated according to their TVL. 4. Launch pillars account for 5% of DRILL allocations, committed to helping the new protocol get started, which will begin six months after TGE and continue based on the potential of early projects applying for and using RedStone data sources. 5. The learning pillar does not have direct token allocation, but advocates the creation of research, dashboards, tools and learning resources to highlight the key role of high-quality data sources and oracles in DeFi.
DRILL plans to extract its 4.5% distribution from the “Community and Creation” section of RedStone Token Economics. To qualify, the project must use the RedStone product to protect its protocol TVL. But there is one condition: projects that meet the criteria need to be allocated to airdrops to product users directly protected by RedStone. Allocation segmentation will depend on factors such as TVL protection, innovation, and the project's preference for RedStone as its oracle provider.
Binance Wallet announces the launch of exclusive TGE, early project applications are now open
According to the official announcement, Binance Wallet announced the launch of exclusive TGE (token generation event), and early project applications are now open; Binance Wallet is committed to helping small and medium-sized potential projects fairly launch their tokens through exclusive TGE activities and reach an active real user base. After the token is launched, the token will be included in Binance Alpha. As a Binance Platform Listing Observation Selection Pool, Binance Alpha is a platform that demonstrates early-stage crypto projects with growth potential. In addition, projects can also obtain liquidity support from Binance Wallet to initiate on-chain liquidity.
Regarding Binance Wallet’s exclusive TGE project screening rules, projects with the following qualities will be prioritized: products with high market adoption, strong and active community, focused and tough founding team, business model and token economy design with sustainable value accumulation systems, early-stage projects with growth potential embracing Binance ecosystem and BNB chains.
REX Shares launches Bitcoin Enterprise Treasury Convertible Bond ETF
According to Businesswire, asset management company REX Financial announced the launch of the Bitcoin Corporate Treasury Convertible Bond ETF through its subsidiary REX Shares. The ETF is listed on Nasdaq under BMAX. It is mainly aimed at retail investors and investment advisers. It is a convertible bond issued by a company that supports the inclusion of Bitcoin into its financial strategy.
Bubblemaps: Decides to evenly distribute the total supply of BMT tokens between Solana and BNB Chain
Bubblemaps posted on the X platform that because BNB chain has become BMT's main chain in terms of transaction volume, liquidity and coin holders, it has decided to evenly distribute the total supply between Solana and BNB Chain to promote stronger development of the communities on both chains.
Previously, the deployment address of BMT had held 757 million BMTs (75.7% of the total supply) on Solana, of which: 348.8 million have been deposited into the lock contract operators on Solana to ensure future allocations based on the locking plan; the remaining number (408.1 million) has been bridged to BNB Chain using LayerZero OFT (cross-chain communication protocol) and has been locked. The locked contract successfully handled thousands of withdrawals under high pressure environments. As the issuance goes smoothly, the remaining supply of the deployer has been transferred to the locked contract, ensuring that the tokens are allocated as planned. The supply on BNB Chain has been allocated and fully locked on Unicrypt based on token economics, including 60 million in protocol development/research and development, 90 million in teams, 206.7 million in ecosystems, and 51.45 million in liquidity.
The summary token economics of the current two chains are as follows: 1.Solana Chain: The deployment address transfers all tokens to the attribution contract, which currently holds 384 million BMTs. 2.BNB Chain: The allocation of teams, protocols and ecosystems has been locked through Unicrypt, and the remaining supply is composed of the unlocked portion of the coin holder and the ecosystem and community supply.
VanEck applies to the US SEC to launch Avalanche ETF
VanEck has submitted an S-1 application to the SEC and plans to launch the Avalanche ETF. The filing states: "The investment objective of the trust is to reflect the price performance of the Avalanche network's native token 'AVAX' minus the cost of the trust's operation."
Previous news , according to the Delaware company registration information, VanEck registered the "VanEck Avalanche ETF" on March 10, 2025. The company type is Statutory Trust and the registration agency is CSC Delaware Trust Company.
Coinbase Derivatives plans to launch natural gas and ADA futures
Coinbase Derivatives has submitted applications to CFTC for self-certified natural gas (NGS) futures and Cardano (ADA) futures to expand its product range in the energy and cryptocurrency derivatives markets, with the product expected to go live on March 31.
Goldman Sachs mentioned cryptocurrencies in its annual shareholder letter, acknowledging its increasingly important role in financial markets and competition. "The growth of electronic transactions and the introduction of new products and new technologies, including transactions and distributed ledger technologies (such as cryptocurrencies) and artificial intelligence technologies, have intensified the competition," Goldman Sachs said in the letter. “In some cases, our competitors may offer financial products that we do not offer and our customers may prefer, including cryptocurrencies and other digital assets that we cannot or may choose not to offer.”
While highlighting the growing popularity of blockchain and digital assets, the company warns of potential risks, including cybersecurity vulnerabilities and market volatility. "Although distributed ledger technology, cryptocurrencies and similar technologies are expanding in popularity and scope of application, these technologies are still in their infancy and may be vulnerable to cyber attacks or have other inherent weaknesses." The letter also warned that the company is at risk in assisting its customers in activities involving blockchain financial products, investing in related companies, and accepting digital assets as collateral.
CZ rose by more than 150% after releasing a meme picture with Mubarak in Binance Plaza
CZ posted a "Weekend Meet a Friend" update in Binance Plaza, accompanied by Mubarak-related Meme pictures. According to GMGN data, mubarak rose by more than 150% after the release of the news, with a market value exceeding US$20 million and now at US$24 million.
Base eco-game project Henlo Kart has contract loopholes, and HENLO tokens fall 96.5%
Base eco-game project Henlo Kart tweeted, "A snapshot of all HENLO holders and LP positions has been taken. A vulnerability has been found in the HENLO contract. The team is actively looking for a solution. Henlo has withdrawn the LP of all team tokens. All liquidity removed from the current LP position will be redeposited to a new LP position." The market shows that Henlo Kart token HENLO fell 96.5% in the past 24 hours.
IOST announced that the IOST 3.0 main network has now been put into operation. In order to protect the rights of token holders, snapshots have been performed at 0:00 UTC time on March 15 (8:00 Beijing time today) to ensure the upcoming TGE. According to the subsequent plan, the airdrop query portal is planned to be launched on April 1, when users can check the token application qualification. In addition, the equity pledge portal is planned to be launched in early April.
Hong Kong-listed Hong Kong-Ya Holdings (1723.HK), a Hong Kong-listed company, announced the appointment of a series of board and executive positions including directors, chairman, CEO, chief financial officer and chief information officer. New CEO John Riggins said that the overall changes in the company's directors have ended and Bitcoin-related (₿ig) products are about to enter the most important market in Asia.
New CEO John Riggins has over 10 years of experience in the cryptocurrency industry and is a founding partner of UTXO’s Bitcoin Ecosystem Fund. Since February 2016, he has also served as the head of international operations at BTC Inc., the publisher of Bitcoin Magazine and sponsor of the annual Bitcoin Conference.
Previous news , Hong Kong Asia Holdings disclosed that it spent 5.9369 million Hong Kong dollars to increase its holdings of 7.88 bitcoins.
Important data
"Hyperliquid 50x giant whale" is putting an order again to buy $5 million LINK
According to monitoring by the on-link analyst @ai_9684xtpa, the "Hyperliquid 50x giant whale" once again placed a US$5 million LINK price limit order, and has been sold for about 5%. Perhaps affected by this, LINK rose above $14 in a short period of time, and the giant whale's total position on the two platforms was already in a floating profit state.
The Meme coin boom on Pump.fun is facing a bottleneck, and the platform's "graduation rate" has been below 1% for four consecutive weeks. "Graduation Rate" is a term used by the Meme Coin Launch Platform to describe the tokens passing through the incubation phase and being fully tradable on the Solana Decentralized Exchange (DEX). To graduate, the token must meet specific liquidity and trading requirements.
Dune Analytics data shows that Pump.fun's graduation rate has remained below 1% for the first time since February 17. Pump.fun's graduation rate has not been high, and the platform's best performance week was last November, when 1.67% of Meme coins entered the open market. However, the huge number of tokens launched on the platform at that time made this percentage more significant than it is now. In the week that began last November 11, 323,000 tokens were created on Pump.fun, meaning a 1.67% graduation rate equals about 5,400 tokens entering Solana’s DeFi economy in a week.
With the decline in token creation on Pump.fun and Solana, weekly token graduation volume has plummeted to an average of about 1,500 tokens as of this writing, according to Dune.
According to the on-chain analyst Yuchen Monitor, the "Hyperliquid 50x giant whale" spot and contract double opening long LINK operation closed its position 4 hours ago, with a loss of US$1.27 million. Then, he shorted 1,937 BTC with a margin of US$3.75 million on the Hyperliquid platform with 40 times leverage, with an opening price of US$84,287, a position value of US$160 million, and a liquidation price of US$85,158.
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