PA Daily | EOS transformed into "Web3 Bank" and changed its name to Vaulta; Derive founder says the peak of the cycle has not arrived yet
Reprinted from panewslab
03/19/2025·2MToday's news tips:
Suspected that Justin Sun pledged 60,000 ETH to Lido yesterday, worth more than US$100 million.
North Carolina Bitcoin Reserves Act intends to authorize 10% of public funds to purchase Bitcoin
Zhao Changpeng changed his X account avatar to a photo of wearing Arabic clothes
Spot gold is at $3,040 per ounce, setting a record high
Filecoin Eco DeFi Protocol Glif launches GLF governance tokens and airdrops 94 million
EOS transformed into "web3 bank" and renamed Vaulta, plans to launch new tokens
Regulatory/Macro
North Carolina Bitcoin Reserves Act intends to authorize 10% of public funds to purchase Bitcoin
According to Bitcoin Laws, North Carolina Bitcoin Reserves Act SB327 authorizes the state secretary of the Treasury to allocate up to 10% of public funds to Bitcoin. The details are as follows: the custody method is multi-signature cold storage; the reserve proof is monthly audit; the holding policy is to allow the sale of North Carolina only under the "severe financial crisis" and strict conditions plus North Carolina currently has $9.5 billion in its general fund.
Zhao Changpeng changed his X account avatar to a photo of wearing Arabic clothes
Binance founder Changpeng Zhao (CZ) has changed his X (original Twitter) account avatar, and the new avatar is a photo of him wearing traditional Arabic clothes.
Spot gold is at $3,040 per ounce, setting a record high
According to Jinshi, spot gold stood at $3,040 per ounce, setting a record high and conquered four barriers within two days. The increase is close to 16% so far this year.
North Dakota Senate passes crypto ATM bill, with a daily transaction cap of $2,000
According to Cointelegraph, the North Dakota Senate passed the HB 1447 bill with an overwhelming vote of 45:1, strictly supervising crypto ATMs, including: a single-day withdrawal of $2,000 for users, requiring operators to obtain an in-state currency transmission license, use blockchain analysis tools to monitor suspicious activities and report them, provide quarterly reports (including terminal location, name and transaction data), and forced posting fraud warning signs. The bill will return to the House of Representatives for review and will be submitted to Governor Kelly Armstrong for signing and taking effect. The passage of the HB 1447 Act marks a tighter regulation of crypto ATMs in the United States. As fraud cases surge, more states may follow suit and promote the industry to transform from wild growth to compliant operations.
Viewpoint
Cathie Wood: Most Meme coins will eventually become "worthless", buyers need to be cautious
ARK Investment founder Cathie Wood warned in a recent interview with Bloomberg TV that most Memecoin in the $2.6 trillion crypto market may end up being "worthless". She noted that while the combination of blockchain and AI has spawned "millions of" Memecoin, the actual value of these tokens is limited, and ARK's private funds will not invest in such assets. In contrast, Wood has a positive attitude towards mainstream crypto assets. She is optimistic about the development prospects of assets such as Bitcoin, Ethereum and Solana, and predicts that Bitcoin may exceed $1.5 million by 2030.
According to a new survey conducted by Coinbase and EY-Parthenon, institutional investors are increasingly bullish on cryptocurrencies, with 83% planning to expand their allocation this year. The study, which surveyed 352 institutional decision makers in January, found that investors' confidence in digital assets continues to grow as regulatory transparency increases and wider application scenarios emerge. The majority (59%) of respondents plan to allocate more than 5% of their managed assets (AUM) into cryptocurrencies in 2025, indicating that cryptocurrencies are transitioning from a niche investment to a key component of their portfolio.
In addition, stablecoins continue to gain favor from institutions, with 84% of the surveyed investors currently using or considering using them for various purposes other than trading. Earnings generation (73%), Forex (69%) and internal cash management (68%) were listed as the main drivers of adoption. DeFi, while still in the early stages of institutional participation, is expected to achieve significant growth. Currently, only 24% of investors participate in DeFi, but this figure is expected to triple by 2027 to 75%.
Analysis: Fed may end quantitative tightening, Bitcoin market hopes for policy shift
According to market analysis, the Fed may suggest an end to a quantitative tightening (QT) plan in its upcoming interest rate resolution, which may support Bitcoin and other risky assets. At present, the market generally expects that the Federal Reserve will keep interest rates unchanged in the range of 4.25%-4.50%, focusing on the future trend of the QT plan. Since the launch of QT in June 2022, the Federal Reserve has gradually reduced its balance sheet size, and the end of QT may mark the start of a new monetary policy and inject liquidity into the market. Earlier, Fed Chairman Jerome Powell, had hinted that QT could end in 2025. Analysis points out that the end of QT may alleviate liquidity pressure in the US Treasury market, and may also be beneficial to risky assets such as Bitcoin. However, the risk of stagflation in economic forecasts may limit asset gains. Bank of America predicts that the Federal Reserve may suspend QT due to debt ceiling issues and may postpone further interest rate cuts amid a downturn of lower growth expectations and higher inflation. In addition, data from the prediction platform Polymarket shows that the probability of QT ending before May is as high as 100%.
Dragonfly managing partner Haseeb Qureshi shares his life journey from professional poker players to top crypto investors. He has applied these abilities to venture capital with the probabilistic thinking, risk assessment and emotional resilience he learned in his poker career. He said blockchain has the potential to completely reshape the global payment system and began investing in Bitcoin and Ethereum in 2016. Haseeb is optimistic about the future of the crypto industry, especially in the context of the advancement of stablecoin legislation and the development of blockchain infrastructure. He noted that despite the gradual entry of traditional giants into the market, startups will still dominate in innovation and profitability. In the investment field, Haseeb emphasizes the importance of in-depth insights and clear logic. He said that he values entrepreneurs’ abilities the most is a clear understanding of the market and specific execution, rather than relying solely on telling big stories or catering to market trends. He believes that investors need to show a deep understanding of the industry, specifically grasping each project, trend and market trends, rather than staying on the surface.
Matrixport today's analysis pointed out that the Bitcoin futures market has cooled down while Bitcoin ETF capital inflows remained stable. As of mid-December 2024, Bitcoin ETF capital inflows and futures open contracts both reached approximately US$35 billion. Subsequently, futures positions fell sharply, but the flow of Bitcoin ETFs was relatively stable, indicating that short-term traders were leaving the market and could sell chips to long-term investors. At present, the market capital rate and transaction volume are both at a low level. Analysts believe that unless new macro catalysts appear, there is less likely to be a significant increase in Bitcoin ETF funds.
Derive founder Nick Forster holds a similar view, saying: "Bitcoin may be in a normal pullback phase, and the cyclical peak has not yet arrived. Historically, Bitcoin will experience this type of pullback during its long-term rally, and there is no reason to think this time will be different."
The Fed is expected to maintain its current policy stance at the FOMC meeting in March, and Bank of America Securities analysts expect the Fed to adopt a cautious and cautious policy amid rising economic uncertainty. The Fed may prioritize “patience over panic”, while keeping interest rates stable, assessing the balance between slowing economic growth and sustained inflationary pressures. Bank of America analysts expect the Fed's latest economic forecast will reflect the factors of stagflation, growth forecasts will weaken, and inflation expectations will adjust upward. While markets have speculated about the timing of a possible rate cut, policy makers may reiterate the data-driven approach, emphasizing the need to further clarify the economic outlook before any policy shift is made. Investors will closely follow the speech of Fed Chairman Powell to understand how the Fed views changing risks, including supply disruptions, labor market resilience and geopolitical uncertainty.
Project News
Filecoin Eco DeFi Protocol Glif launches GLF governance tokens and airdrops 94 million
Filecoin's largest DeFi protocol, GLIF, released GLF governance tokens and airdropped 94 million pieces, accounting for 9.4% of the total supply. GLF will expand to new features such as loyalty rewards in the future. GLIF is expanding towards the decentralized physical infrastructure network (DePIN), surpassing the Filecoin ecosystem. At present, GLIF has locked up more than US$102 million in Filecoin and will support more DePIN networks in the future. The specific list has not been announced yet.
EOS transformed into "web3 bank" and renamed Vaulta, plans to launch new tokens
The public chain EOS will be renamed Vaulta and transformed into "web3 bank". If the proposal is approved, the EOS token will be exchanged for the new vaulta token starting in May. Vaulta will build around blockchain’s existing EOSIO software and integrate with exSat, a so-called “docking layer” that introduces smart contracts into Bitcoin. This cross-chain system will have 1 second transaction finality and support C++ and EVM-compatible smart contracts. Vaulta's "web3 banking operating system" will provide an institutional-level financial service through cooperation projects including Ceffu, Spirit Blockchain and Blockchain Insurance. The Vaulta Bank Advisory Board is composed of experts in the financial and blockchain industry, and will be from Systemic Trust, Tetra and ATB Financial.
Raydium is developing Meme coin issuing platform LaunchLab to compete with Pump.fun
According to The Block, Solana's ecological decentralized exchange Raydium plans to launch a Meme coin issuance platform "LaunchLab", to compete with Pump.fun. Raydium's "LaunchLab" is essentially a fork of Pump.fun, but with some selective differences. It will take a similar logarithmic binding curve, but also allows third-party user interfaces to set fees and access Raydium's liquidity pool directly. The project has been in development for months, according to reports.
According to The Block, Gyroscope, the stablecoin protocol behind Gyro Dollars (GYD), has launched its governance token GYFI. Gyroscope co-founder Lewis Gudgeon said the launch of GYFI tokens includes airdropping up to 2.1 million tokens to qualify users - accounting for about 15% of the total GYFI supply. The empty investment space was determined through Gyroscope Governance voting, and users participating in the SPIN Points Event, Founding Member NFT Holders, and Gyroscope Galxe Events were included. Users who receive GYFI can choose to receive liquidity tokens in full or lock the tokens to obtain additional rewards: 40% of the additional GYFI can be obtained for 9 months, and 150% of the additional GYFI can be obtained for 18 months. GYFI will allow holders to participate in a decentralized governance system where they can vote in protocol decisions. In addition, Gyroscope mentioned that repurchase and destruction mechanisms may be implemented in the future.
MyShell launches AI proxy launch and tokenization platform Shell Launchpad
AI consumer layer MyShell recently announced on the X platform that Shell Launchpad is now online, a tool to start AI proxy and tokenize AI proxy. Shell Launchpad provides three modes for creating AI agents: ① Classic mode, suitable for beginners who build basic AI agents; ② Professional configuration mode, that is, low-code options for advanced developers; ③ ShellAgent mode, a professional framework for building multi-agent applications without coding.
Binance will launch FORM perpetual contract, up to 50 times leverage
Binance announced the launch of StraitsX USD (XUSD) and Four (FORM), supporting Simple Earn, Buy Crypto, Convert, Margin, Auto-Invest and other functions. It will launch a FORM perpetual contract at 16:00 on March 19, Beijing time, with a maximum of 50 times leverage.
Cosmos obtains native EVM framework through open source Evmos
According to The Block, Cosmos' Cross-chain Foundation (ICF) has funded the open source of Evmos (EVMOS -32.90%), its native EVM framework for its multi-chain ecosystem with more than 200 application chains. The foundation said that the framework was previously developed under the Evmos project and will now be maintained as a "Cosmos EVM" in the official cross-chain software stack, including the Cosmos SDK, which means that the Cosmos ecosystem now has a standardized version of the Ethereum Virtual Machine (EVM). This development enables the Cosmos blockchain to integrate Cosmos EVM for full EVM compatibility, including support for JSON-RPC and Ethereum wallet compatibility via lightweight EVM configurations for native ERC-20 tokens. This integration enhances cross-chain interoperability between the broader EVM ecosystem and Cosmos through the Cross-chain Communication (IBC) protocol. As part of this shift, Evmos co-founder Federico Kunze Küllmer will no longer serve as a core contributor to Evmos while continuing to advise the ICF on the interoperability and modular architecture of Cosmos EVM, Evmos noted. Kunze Küllmer's company Altiplanic is a core contributor to the Evmos code base and will no longer be involved in the project.
Binance will support BNB Smart Chain (BEP20) and opBNB Chain (opBNB) network upgrades and hard forks
According to the official announcement, Binance will support BNB Smart Chain (BEP20) and opBNB Chain (opBNB) network upgrades and hard forks. opBNB Chain (opBNB) will undergo network upgrade at 10:10 on March 20, 2025 (East Eighth District time). Binance is expected to suspend opBNB Chain (opBNB) token recharge and withdrawal services at 10:05 on March 20, 2025 (East Eighth District time). BNB Smart Chain (BEP20) will undergo a network upgrade at 10:10 on March 20, 2025 (East Eighth District time). Binance is expected to suspend BNB Smart Chain (BEP20) token recharge and withdrawal services at 10:05 on March 20, 2025 (East Eighth District time).
Important data
Suspected that Justin Sun pledged 60,000 ETH to Lido yesterday, worth more than US$100 million.
According to Arkham monitoring, it is suspected that Justin Sun pledged 60,000 ETH to Lido yesterday, worth more than US$100 million.
Perhaps affected by CZ's avatar change, mubarak rose 28.46% in a short period of time
According to GMGN market data, mubarak may be affected by the change of avatar of CZ, and mubarak rose 28.46% in a short period of time and is now quoted at US$0.17,268. Note: The token has a large fluctuation range, please pay attention to fund safety, non-investment advice, DYOR.
PancakeSwap's 24-hour trading volume reached US$2.672 billion, leading the DEX market
According to the latest data from DefiLlama, PancakeSwap's trading volume in the past 24 hours was US$2.672 billion, with a month-on-month increase of 32.09% in 7 days. Uniswap's 24-hour trading volume was US$1.188 billion, and the trading volume within 7 days decreased by 48.94% month-on-month. Raydium's 24-hour trading volume was US$408 million, and the trading volume within 7 days fell by 29.44% month-on-month. Curve Finance's 24-hour trading volume was US$244 million, and the trading volume within 7 days decreased by 18.64% month-on-month. Orca's 24-hour trading volume was US$244 million, and the trading volume within 7 days fell by 39.14% month-on-month.
According to Lookonchain monitoring, a giant whale extracted 59,406 SOLs from Kraken and sold them on DEX for an average of $125.8 in exchange for 7.47 million USDT.
Financing
According to NFT Plazas, Peer Global Inc. completed a new round of financing of $10.5 million, increasing its total investment to $65.5 million. The financing, led by the Tommy Mai family office, will be used to expand Peer's development team, enhance its artificial intelligence capabilities, and refine its meta-universe platform.
According to reports, Peer is a technology platform that integrates artificial intelligence to create interactive digital environments. The company launched a 3D personal planet, allowing users to create and customize digital spaces for social interaction. Peer's Metauniverse Engine provides developers with tools to build digital environments generated by AI. Peer's monetization strategy includes virtual property sales, i.e. users can purchase and personalize digital spaces.
Crypto forecasting platform Yeet completes $7.75 million in financing, Dragonfly leads investment
According to Decrypt, crypto forecasting platform Yeet completed a $7.75 million financing, led by Dragonfly, and angel investors such as Pudgy Penguins CEO Luca Netz and LayerZero CEO Bryan Pellegrino participated in the investment.
According to reports, Yeet was co-founded by Michael Anderson (pseudonym Mando), anonymous trader Keyboard Monkey and professional poker player Ben Lamb. It focuses on the "predictive market for crypto users", and the target users are crypto native groups with high risk preferences.
Via Science, Inc. (VIA) has completed a $28 million Series B financing to accelerate its data and identity protection platform for government and businesses. Investors in this round include Bosch Ventures (led investment), BMW i Ventures, MassMutual Ventures and Sentinel Global. New investors, together with Westly Group and some existing investors, completed the minority equity investment.
Graphite, an AI code review platform supported by Anthropic, announced that it has completed a US$52 million Series B financing. This round of financing is led by Accel, with Anthropic's Anthology Fund, Menlo Ventures, Shopify Ventures, Figma Ventures, Andreessen Horowitz and The General Partnership. Founded in 2020 by Tomas Reimers, Greg Foster and Merrill Lutsky, Graphite initially focused on mobile development tools and later moved to AI-powered code review. Its platform uses Anthropic and OpenAI models to provide code feedback, error detection, and automatically fix code problems. Currently, Graphite serves more than 500 companies, including Shopify, Snowflake, Figma and Perplexity, with revenues up 20 times in 2024. Additionally, Graphite is launching a new product, Diamond, aiming to automatically catch code errors.
Crypto development platform Crossmint completes $23.6 million in financing, led by Ribbit Capital
Crypto development platform Crossmint announced that it has completed a US$23.6 million financing, covering seed rounds, A rounds and strategic financing, led by Ribbit Capital, with Franklin Templeton, Nyca, First Round, Lightspeed Faction and others participating. Crossmint provides API tools to help developers easily integrate encryption without having to understand blockchain technology. Currently, its customers include 40,000 companies and developers including Adidas, Red Bull, Coinbase, etc.
Solana RWA Agreement ORO completes $1.5 million in Pre-Seed financing
Solana Eco-RWA (Real World Asset) Agreement ORO completed a US$1.5 million Pre-Seed round of financing led by 468 Capital, with Fasset, Collective, Dead King Ventures and several angel investors participating. ORO aims to tokenize gold, making it an on-chain asset that can be pledged, borrowed, and earned. The team plans to use new funds to expand development and promote the application of gold in the Solana DeFi ecosystem.
Web3 workflow protocol Halliday completed US$20 million Series A financing, led by a16z crypto
Halliday, a developer of Web3 workflow agreement, announced the completion of a US$20 million Series A financing, led by a16z crypto. Other participants include Avalanche Blizzard Fund, Creditbly Neutral, Alt Layer and several angel investors, bringing its total financing to US$26 million. Halliday is committed to simplifying the smart contract creation process, and its infrastructure allows developers to delegate workflows to automated systems to reduce development time. The company plans to use the new fund to expand its engineering team (currently 17 people) and further develop workflow protocols and payment applications Halliday Payments.
Peregrine Exploration, the development company behind the stablecoin agreement Level, recently completed a new round of financing of US$2.6 million, led by Dragonfly Capital and participated by Polychain, with the total financing amount increasing to US$6 million. New investors include Flowdesk, Echo Syndicates, Native Crypto, Feisty Collective, as well as Frax founder Sam Kazemian and Injective co-founder Albert Chon. Level's revenue stablecoin lvlUSD has exceeded $80 million in supply since the beta launch, and plans to include Morpho as its source of income while expanding the utility of lvlUSD.
