PA Daily | Doodles will launch token DOOD; GameStop considers investing in Bitcoin and other cryptocurrencies
Reprinted from panewslab
02/14/2025·3MToday's news tips:
21,000 BTC options and 176,000 ETH options will expire today
U.S. Texas lawmakers resubmit Bitcoin reserve bill, expanding to include other cryptocurrencies
GameStop considers investing in Bitcoin and other cryptocurrencies
A sniper quickly bought Broccoli after CZ announced his dog name and made a profit of $27.8 million
Regulatory/Macro
According to feedback from GoPlus users, some assets are suspected to have been stolen. Security monitoring shows that the address of the stolen coins was newly created yesterday, and more than US$1 million of assets have been collected from addresses starting with 0x49ad. GoPlus speculates that this may be related to the batch stolen private keys of a trading platform or Trading Bot user. GoPlus reminds users to check the security of their wallet assets as soon as possible.
U.S. Texas lawmakers resubmit Bitcoin reserve bill, expanding to include other cryptocurrencies
U.S. Texas lawmakers have re-emerged a bill aimed at building strategic bitcoin reserves, which is now designated SB 21, allowing investment in additional cryptocurrencies. Senator Charles Schwertner announced the bill on February 12, highlighting that it would make the state the first to establish a cryptocurrency reserve, with the potential to drive innovation and "financial freedom." The new legislation is based on SB 778, with the old bill introduced in January this year, focusing mainly on Bitcoin. Bill SB 778 restricts state governments from buying and holding bitcoin only and not using it for other operations, while Bill SB 21 expands its scope and allows investment in cryptocurrencies that maintain a market capitalization of at least $500 billion over the course of the year. But at present, Bitcoin is the only cryptocurrency that meets this standard.
According to Cointelegraph, Michigan became the latest state in the United States to propose a Bitcoin reserve bill, marking that 20 states across the United States are already advancing legislation on crypto reserves. On February 13, 2025, Rep. Bryan Posthumus and Ron Robinson filed the HB 4087 Act, aiming to amend Michigan’s Management and Budget Act to establish strategic Bitcoin reserves for the state government. The bill allows the Michigan Treasury Secretary to invest in cryptocurrencies from general funds and economic stability funds, with a cap of 10%, and no restrictions or guidance on the types of cryptocurrencies that can be purchased. The bill also proposes that if cryptocurrency borrowing does not increase financial risks, the Finance Minister can lend cryptocurrency to obtain further profits. In addition, Posthumus also mentioned that the launch of a stablecoin called "MichCoin" will be pegged to gold and silver reserves to enhance its actual value.
According to Wall Street Journal: U.S. Vice President Vance said on Thursday that if Russian President Putin disagrees to reach a peace agreement with Ukraine to guarantee long-term independence, the United States will impose sanctions on Russia and may take military action. If Russia fails to negotiate in good faith, the US's choice to send troops to Ukraine remains "at the negotiating table."
Tiktok has been re-launched on the App Store and Google Play Store
According to King Shi, Apple (AAPL.O): Tiktok has been re-listed on the App Store. Google: TikTok is back on Google Play Store.
According to The Block, U.S. District Court Judge Amy Berman Jackson has approved a suspension of Binance's legal dispute with the U.S. Securities and Exchange Commission (SEC), with the case delayed by 60 days, and the two parties must submit a joint status report by April 14. Binance and the SEC filed an application on Monday to request a pending case, citing the SEC's newly formed cryptocurrency working group that is developing a clearer regulatory framework. The working group is led by Hester Peirce, a commissioner appointed by SEC’s new acting chair, who recently raised cryptocurrency regulatory priorities, including the classification of some tokens as non-securities.
GameStop considers investing in Bitcoin and other cryptocurrencies
GameStop is exploring the possibility of investing in Bitcoin (BTC) and other crypto assets, and sources say the company is evaluating whether the investment strategy is suitable for its business, CNBC reported. Affected by this news, GameStop's stock price rose 20% at one point in after-hours trading. However, the company has not finalized its decision to implement the plan. Last weekend, GameStop CEO Ryan Cohen posted a photo with MicroStrategy co-founder Michael Saylor on X platform. While Saylor has not been involved in GameStop's crypto investment discussion, MicroStrategy has purchased billions of dollars in BTC in recent years and has become a major enterprise-level holder. GameStop launched its crypto wallet business in 2022, but closed in 2023 due to regulatory uncertainty. Currently, the company holds $4.6 billion in cash reserves and approved a new investment policy by the end of 2023 that allows management to invest in securities assets that meet the guidelines.
SEC accepts Grayscale XRP Trust Conversion ETF application and starts the review process
According to Fox Business reporter Eleanor Terrett, the U.S. Securities and Exchange Commission (SEC) has officially accepted the 19b-4 application filed by Grayscale and NYSE, intending to convert the Grayscale XRP Trust ($XRP Trust) into an exchange-traded fund (ETF). While this does not mean automatic approval and does not guarantee that the SEC will eventually agree to the application, this progress shows that the SEC is more open to crypto ETFs than directly refuses to consider such products. Previously, the exchange withdrew its Solana ($SOL) ETF application due to its tough SEC stance. However, the SEC's application for XRP ETF shows that encrypted ETFs such as LTC, DOGE, SOL, XRP still have the possibility of approval. The SEC is expected to publish the application to the Federal Gazette within a few days, when the 240-day approval window will be officially opened. In addition, XRP ETF applications from institutions such as Bitwise, 21Shares, Canary Funds and WisdomTree are still awaiting processing by the SEC.
US SEC has confirmed to accept DOGE ETF application
The Securities and Exchange Commission (SEC) has confirmed acceptance of Grayscale and the New York Stock Exchange filing 19b-4 applications to establish a DOGE ETF. NYSE Arca has filed an amended rule change application to the SEC to list on its exchange and trade Grayscale Dogecoin Trust (GDOG) shares, according to the Securities and Exchange Commission (SEC) filing. The trust is operated by Grayscale Investments and is managed by Coinbase Custody. The investment goal of a trust fund is to have its stock value reflect the DOGE price and rely on the CoinDesk Dogecoin Price Index (DCX) for pricing. Currently, the trust's administrative expenses are 2.5%. This application still requires SEC approval and public comment process.
Financing
DeFi.app completes $4 million in financing, with a total valuation of $100 million
According to The Block, DeFi trading platform DeFi.app raised another $4 million in its latest seed expansion round to maintain a valuation of $100 million tokens. The financing was jointly participated by venture capital institutions and Cobie's Echo platform, with Mechanism Capital, DCF Capital Partners, Balaji Srinivasan, Pentoshi and other institutions investing US$2 million, and Echo's Comfy Capital and George Beall teams contributed US$2 million. So far, the total financing amount of DeFi.app has reached US$6 million. In addition, DeFi.app announced the official opening of public beta, providing "no Gas fee" cross-chain token exchange, decentralized asset management and fiat currency purchase functions, and plans to launch perpetual contract trading, income farms and lending services in the future. The platform has previously attracted 100,000 alternate users and completed $60 million in trading volume, with the goal of attracting hundreds of thousands of users and driving daily trading volume to nine figures in the coming months. DeFi.app plans to conduct public token sales this month, selling 3% of the total supply HOME tokens to non-US KYC compliant users, also at a valuation of US$100 million.
FrodoBots completes $8 million financing to launch crypto robot network BitRobot
According to an official announcement from FrodoBots, it has completed a $8 million financing and plans to launch a BitRobot network that combines encryption and robotics technology, focusing on promoting the development of Embodied AI (embodied artificial intelligence). The round of financing was led by Protocol VC, with Big Brain Holdings, Fabric, Zee Prime Capital, Tioga Capital, Sfermion, Solana Ventures and others participating. Solana co-founder Anatoly Yakovenko and Raj Gokal and several DePIN project founders participated in the investment.
AI
Apple plans to introduce AI capabilities on Chinese iPhones by mid-2025
Market News: Apple (AAPL.O) plans to introduce AI capabilities on Chinese iPhones by mid-2025. Apple (AAPL.O) is working to bring its AI capabilities into China by mid-year, accelerating the complex task that requires changing software and relying on local partners. According to people familiar with the matter, the iPhone maker has multiple teams in China and the United States, committed to adjusting the Apple Intelligence platform to be suitable for China, with the goal of launching as early as May. (Jin Shi)
Baidu's Wenxin next-generation model is confirmed to be open source
According to Baidu's official official account, Baidu announced that it will launch the Wenxin Mockup 4.5 series in the next few months, and will be officially opened from June 30. Ironically, Robin Li said last year that open source is actually an IQ tax. "When you think rationally about what value a big model can bring and what cost it can bring value, you will find that you should always choose a closed source model. Whether it is ChatGPT or Wen Xinyiyan today, etc. The closed source model must be more powerful than the open source model and has lower inference costs.”
Project News
“czs-dog” section has been removed from the Binance Wallet homepage
According to the official Binance Wallet page, the "czs-dog" section has been removed. Previous news, Zhao Changpeng: The Meme coins will not be issued in person, it depends on whether the community does this.
Binance launches BNSOL super pledge sixth phase project Pepe (PEPE)
Binance announced the launch of the sixth BNSOL super staking campaign with its token partner Pepe (PEPE). During the event, users hold BNSOL from February 17, 2025 to 07:59 on March 17, 2025 (Beijing time) or pledge SOL as BNSOL, and can receive PEPE APR Boost reward airdrop, which is in BNSOL Additional benefits above the staking base APR.
According to the official announcement of Doodles, NFT project Doodles officially launched its official token $DOOD and plans to be issued on the Solana chain with a total supply of 10 billion pieces, which will support cross-chain to Base in the future. 68% of tokens will be allocated to the community, of which 30% will be allocated to the Doodles community, 25% will be included in the eco-fund, 13% will be allocated to new members, 17% will be allocated to the team (1 year locked, 3 years of ownership), and 10% will be used as liquidity 5% of the funds are reserved for the company. Doodles said its ecosystem has covered animation, short films and global brand cooperation, and plans to build a long-term cultural movement through a decentralized model.
According to The Block, the US cryptocurrency exchange Coinbase released its fourth quarter and full-year financial results for 2024, exceeding market expectations, and revenue and profits increased significantly. The company's fourth quarter revenue reached US$2.3 billion, doubled year-on-year, higher than market expectations of US$430 million and quarterly net profit of US$579 million. Transaction revenue increased by 172% year-on-year to US$1.6 billion. The full-year revenue reached US$6.6 billion, an increase of 111% year-on-year from US$3.1 billion in 2023, and net profit reached US$2.6 billion, with adjusted EBITDA of US$3.3 billion. Q4 total revenue was US$2.3 billion, transaction revenue was US$1.6 billion, and quarterly net profit was US$1.3 billion. Coinbase currently holds $9.3 billion in USD resources, up from $8.2 billion in the previous quarter. In addition, stablecoin revenue was $226 million, slightly lower than the $247 million in the previous quarter. Coinbase's stock price rose after trading, up 16% so far in 2025, up 112% in the past year, with a market value of more than $73 billion. In its annual shareholder letter, the company said that the regulatory environment in the United States is improving, the government's crackdown on the cryptocurrency industry is over, and policies are expected to be more friendly in the future. Coinbase recently sent letters to the Federal Reserve, FDIC and OCC urging clarification of crypto-banking rules and ending “debanization” of the industry. Q1 Since 2025, Coinbase transaction revenue has reached US$750 million, and subscription and service revenue is expected to be between US$685-765 million.
Zhao Changpeng released photos of his pet dog Broccoli and their stories
Binance founder Changpeng Zhao (CZ) released photos of his pet dog Broccoli and the story between them.
Coinbase International Station will launch Spx6900 and Kaspa perpetual contracts
According to the Coinbase International Exchange announcement, the platform and Coinbase Advanced will support Spx6900 and Kaspa perpetual contracts, and the SPX-PERP and KAS-PERP markets will be open for trading at or after 17:30 Beijing time on February 20, 2025.
Viewpoint
Analysis: Bitcoin bull market may not end, 200-week moving average trend shows bullish signals
According to TradingView data, Bitcoin (BTC)’s 200-week simple moving average (SMA) is currently $44,200, which is still well below the $69,000 peak of the 2021 bull market, despite reaching an all-time high. Historical data shows that a bull market usually ends when the 200-week moving average rises to the high point of the previous bull market. For example, the bull market in 2021 ended when the 200-week moving average reached its 2017 high of $19,000, while the bull market in 2017 ended when the moving average reached its 2013 high of $1,200.
The current BTC price fluctuates between 90,000 and 110,000 US dollars. If the historical trend continues, this range may break through with a bullish trend. In addition, Deribit options market data also supports this view. According to Amberdata, call options for a three-month or more long term are higher than put options, reflecting market expectations for price increases. The current market price is $96,700, and the most popular option is a call option with a $120,000 strike price, with nominal open positions exceeding $1.8 billion.
Important data
A sniper quickly bought Broccoli after CZ announced his dog name and made a profit of $27.8 million
According to Lookonchain monitoring, a sniper made a profit of $27.8 million by sniping the Meme coin named after CZ's dog. After CZ announced its dog's name, the sniper quickly bought almost all Memecoin named Broccoli and distributed tokens to multiple wallets through the Disperse tool to sell them. Subsequently, the sniper collected the BNBs obtained from selling Broccoli to his wallet "0xe332...03f3" and exchanged all the BNBs for USDT. In the end, the sniper earned a total of USDT.
A giant whale spends $5 million to buy Broccoli tokens to become the largest holder
According to Lookonchain monitoring, a giant whale investor bought a large amount of $5 million worth of Broccoli (token address: 0x6d5...714). The investor spent a total of 7,431 BNBs (about $5 million) to purchase 39.54 million Broccoli tokens at $0.1264, becoming the largest holder of the token.
Ethereum ETH staking ratio has dropped to 27%, a decline for the first time since its peak of 29%.
According to The Block, the proportion of Ethereum pledge has dropped to 27%, returning to its level since July 2024 and has declined for the first time since its 29% peak at the end of 2024. At present, 33.5 million ETH has been pledged and continues to support the security of the Ethereum network. Although the pledge ratio has declined, liquid staking derivatives (LSDs) still dominate the Ethereum ecosystem, with Lido controlling about 69% of the market share and Binance pledged ETH accounting for 15% of the market share.
21,000 BTC options and 176,000 ETH options will expire today
According to Greeks.live data, 21,000 BTC options will expire today, Put Call Ratio is 0.67, with the maximum pain point of $98,000, and the nominal value is 2.08 billion US dollars; at the same time, 176,000 ETH options will expire, Put Call Ratio is 0.64 , the maximum pain point is $2,725, with a nominal value of $470 million. Although the U.S. government has released a number of positive news recently, market sentiment remains sluggish, with implicit volatility (IV) falling to its lowest level in the past year. Since BTC fell below $100,000, options investors have continued to sell short-term calls. Bulk bullish trading volume has risen, but bearish trading volume has declined, indicating that the market is not optimistic about the rise, but the panic of the decline is also weakening. Institutions generally believe that the market lacks funds and hot spots in February and may enter the "garbage time" stage.
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