PA Daily | Pump.fun's average daily trading volume plummeted 82% to $560 million; about $342 million TRUMP transferred from Binance to unknown wallet
Reprinted from panewslab
02/13/2025·3MToday's news tips:
Korea Financial Commission plans to open legal person and exchange accounts in three phases
Binance will launch Heima (HEI) 1-75 times U-standard perpetual contract
Upbit will launch TRUMP in Korean won, BTC, USDT markets
MyShell will launch SHELL token generation activity in Binance Wallet and PancakeSwap
Glassnode: Soft market liquidity and slowing network growth may cause BTC to fall to $92,000
The Ethereum Foundation deposits 10,000 ETH to Aave and Spark each
Regulatory/Macro
U.S. Department of Government Efficiency Plans to Disclose Cost Cut Details
The U.S. Department of Government Efficiency (DOGE), led by Musk, tweeted that its official website doge.gov has now been officially launched, providing the following content: • Dynamic updates on X platform • Government organizational structure integration (manually sorted out 16,000+ institutions) • Overview of the regulatory system, including the “Unconstitutional Index” (measures the ratio of regulations formulated by non-elected officials to Congress legislation) Future updates (expected to be available on February 14): • Details and evidence of government cost reduction • Overall savings report DOGE says it will Continuously optimize website features and welcome public feedback to improve transparency and practicality.
Coinbase seeks to return to India and is in talks with regulators
According to TechCrunch, Coinbase is in contact with the Indian Financial Intelligence Unit (FIU) and plans to re-enter the Indian market after more than a year of suspension of operations. Previously, Binance resumed operations in India after registering through FIU in August 2024, providing a precedent for overseas crypto exchanges to enter the Indian market in compliance. Coinbase briefly launched its Indian business in 2022, but the service was suspended within three days after the National Payment Corporation of India (NPCI) refused to acknowledge its UPI payment support. Coinbase CEO Brian Armstrong once revealed that the company was under "informal pressure" from the RBI. A Coinbase spokesman said the company is full of expectations for the Indian market and plans to comply with all regulatory requirements. However, the growth of the market is still facing challenges as the Indian government imposes a 30% income tax and a 1% transaction deduction on crypto asset transactions.
Korea Financial Commission plans to open legal person and exchange accounts in three phases
According to Yonhap News Agency, the Korea Financial Commission (FSC) announced that it will promote the opening of real-name accounts of crypto assets of legal entities in three stages. This year, it will first open trading rights to non-profit organizations, law enforcement agencies and crypto exchanges, and plans to 2025 Professional investment legal persons are allowed to invest crypto cryptocurrency in half a year. Policy promotion details: Phase 1 (first half of 2025): • Law enforcement agencies (procuratorate, State Taxation Department, Customs Department, etc.) have been allowed to open encrypted accounts to handle the confiscation of criminal proceeds and the auction of tax-afford assets. • Nonprofit organizations (such as designated endowments) are expected to be approved in Q2 2025 to receive and convert crypto donations. • Crypto exchanges can obtain legal person accounts before Q2 2025 to convert platform fee income into fiat currency, but the exchange's selling behavior needs to be restricted by government guidance to prevent market fluctuations. Phase 2 (second half of 2025): • Professional investment legal persons (such as listed companies and registered professional investment institutions, about 3,500) will be allowed to participate in the transaction of crypto assets, but they must meet the mandatory anti-money laundering (AML) requirements and will be subject to the bank. Review with the exchange. The third phase (long-term plan): • The full opening of crypto investment in ordinary enterprises is still in the medium- and long-term discussion stage, and the second phase of legislation needs to be completed, including stablecoin supervision, exchange operating rules, cross-border crypto transaction monitoring, etc. Jin Zhaoying, vice chairman of the Financial Committee, said that he would accelerate the second phase of crypto legislation, including a regulatory framework for stablecoins and securities tokens (STOs), and promote Congress to pass relevant laws to promote compliance development of the crypto industry.
Japanese medical service company SBC Medica announces buying about $6.7 million in Bitcoin
According to CryptoSlate, Japanese medical service company SBC Medical Group Holdings announced that it will purchase 1 billion yen (about 6.7 million US dollars) of Bitcoin (BTC) to achieve long-term strategic goals of asset diversification and combat inflation. The company said that the fixed supply of Bitcoin and growth in global adoption give it a long-term value-added potential. The acquisition will be carried out by SBC Medical's US subsidiary through Coinbase and is expected to be completed between February and May 2025. The company stressed that it has fully considered factors such as accounting, taxation and cybersecurity, and will continue to provide the latest investment progress. In Japan, corporate Bitcoin investment trends are heating up. Since the beginning of this year, companies such as Metaplanet and game publisher Gumi have announced plans to purchase Bitcoin. Among them, Metaplanet has accumulated 1,762 BTC (about US$185 million) since April 2024, and its share price soared by 3,500% in one year. It plans to increase its holdings to 21,000 BTC by the end of 2026, becoming one of the world's largest enterprise-level Bitcoin holders. .
According to the Securities Times, Du Xueyi, director of the Economic Crime Procuratorate of the Supreme People's Procuratorate, said in an interview with the Supreme People's Procuratorate on February 13 that the current high incidence of telecommunications and network fraud crimes is still severe and complex. First, fraud groups are cross-border and monopoly. Criminals open "industrial parks" and "science and science and technology parks" overseas, implement management control by providing guarantees, armed asylum, etc., and obtain stolen money by taking commissions or charging fees, forming a large criminal organization. Second, fraud methods are diverse and complex, and "pig killing + false investment", "combination of gambling and fraud", "combination of extortion" and other serious violent crimes such as intentional injury are more confusing. Third, the black industry crime module is becoming increasingly stable, and the criminal tool software is simple and easy to use, resulting in a wider population being absorbed into criminal activities. Fourth, the funding channels are intertwined and hidden, and virtual currency "money laundering" has become the mainstream method, helping criminals transfer fraud-related funds "small amounts and multiple transactions", which is difficult to trace.
CFTC new chairman nominee: U.S. can maintain global leadership in blockchain and crypto regulation
Brian Quintenz posted on X platform that he was honored to be nominated by US President Trump as chairman of the Commodity Futures Trading Commission (CFTC), who previously served as a CFTC committee member in Trump's first administration. He said the CFTC plays a key role in maintaining the world's leading hedging and price discovery markets and believes the institution has the ability to ensure the U.S. remains globally leading in blockchain technology and innovation. SEC Commissioner Hester Peirce congratulated Quintenz and looked forward to the SEC and CFTC strengthening cooperation in cryptocurrency regulation, saying that the focus this time will be on crypto regulation rather than Dodd after the last financial crisis. Chapter 7 Reform of the Frank Act.
Coinbase derivatives platform may launch Solana and Hedera futures
According to FulcrumNews, the Coinbase Derivatives Exchange (LLC) has submitted a self-certification application for Solana futures contracts to the U.S. Commodity Futures Trading Commission (CFTC), and plans to officially launch trading on or after February 18, 2025. Contract details: • Solana Futures will be settled monthly by cash settlement and margin trading. • Hedera futures are expected to be launched simultaneously, further enriching Coinbase's derivative trading category.
Cboe BZX Exchange Submits Proposal to Allow 21Shares Ethereum ETF to Participate in Staking
According to The Block, the Cboe BZX exchange has submitted a proposal to allow Ethereum held by the 21Shares Core Ethereum ETF to be pledged and awaits a decision by the Securities and Exchange Commission (SEC). According to Bloomberg analyst James Seyffart, this is the first ETF to submit a pledge application to the SEC. The SEC approved several Ethereum ETFs last year, including 21Shares, BlackRock and Fidelity, but many companies removed the staking feature when they registered. The market expects that the SEC's stance on cryptocurrencies may be more friendly under the Trump administration.
Financing
Gam3Girl Ventures strategically invests in YGG, buys YGG tokens to join its ecosystem
Gam3Girl Ventures, a fund focused on Web3 game incubation in Asia, announced a strategic investment in Yield Guild Games (YGG), joining its ecosystem by purchasing YGG tokens directly from the market.
OKX Ventures announces investment in Web3 innovative trading application Blum
According to official news, OKX Ventures announced a seed round investment in the innovative trading application Blum, a platform aiming to create a trading experience connecting DEX and CEX for 90 million users. This round of financing was led by gumi Cryptos Capital, with Spartan and No Limit Holdings participating. Also gained continued investment from seed front-wheel supporters YZi Labs and Top.co, as well as participation from well-known institutions such as Bitscale Capital and Wintermute. Currently, Blum has received a total of US$5 million in pre-seed and seed rounds. “This funding marks an important milestone for Blum as it will drive the development of our trading capabilities. We are very grateful to OKX Ventures and other supporters for their confidence in us,” said Gleb Kostarev, Blum CEO and co-founder. “Blum has attracted the attention of investors and users since day one. Our financing method is not just to secure funds; it is to carefully select partners with expertise and resources that can enhance the user experience.” OKX Ventures Partner Jeff Ren said: “We are delighted to invest in Blum, which is one of the largest Telegram Web3 communities. At the same time, we will also establish a partnership with Blum through OKX Connect to attract more users. Through this investment, we Hopefully, we will once again demonstrate our willingness and determination to advance the Ton ecosystem.”
AI
Musk: Grok 3 will be released in about one to two weeks
Musk: In testing, the Grok 3 outperformed any released product we know. We're in the final stages and Grok 3 will be released in about one to two weeks.
The OpenAI board of directors questioned the $97.04 billion acquisition proposal made by investors such as Elon Musk, noting in a court filing Wednesday that the proposal was in line with Musk's claim to file a lawsuit against OpenAI last year, the New York Times reported. contradiction. OpenAI said in the filing that Musk had previously claimed that the company's assets must remain under the control of nonprofits and cannot be transferred to other entities for public interest, but now he is trying to acquire the asset. OpenAI believes that this exposes Musk's "hypocrisy". Musk's lawyer Marc Toberoff responded that the core of the lawsuit was not the control of OpenAI, but the misconduct against Sam Altman and OpenAI. He said Musk would withdraw his acquisition proposal if OpenAI is willing to abandon its plan to "sell" non-profit assets.
Musk's X agrees to pay about $10 million to settle Trump's lawsuit
According to the Wall Street Journal, Elon Musk's social platform X (former Twitter) has agreed to pay about $10 million to reach a settlement with Donald Trump over his account ban. This makes X the second platform to settle a lawsuit to ban Trump’s account after another social media company on January 6, 2021, after the January 6, 2021 Congressional riots. Trump and other plaintiffs sued then-Twitter and its former CEO Jack Dorsey in 2021. Musk completed the acquisition of Twitter on October 27, 2022. Trump's X account (formerly Twitter account) was restored on November 19, 2022.
According to the GPT-4.5 and GPT-5 roadmap released by OpenAI CEO Sam Altman, GPT-4.5 (internal code-named Orion) will be OpenAI's last non-"chain-of-Thought" model and is expected to be counted in the future Launched within weeks or months. After that, OpenAI will integrate the o-series and GPT series models to make it more intelligently use of tools and adapt to different task needs. GPT-5 will combine the o3 model and integrate functions such as voice, Canvas, search and in-depth research. ChatGPT free users will be able to use the standard smart version of GPT-5 without restrictions, and Plus and Pro users can access the higher smart version of GPT-5.
Project News
Binance will launch Heima (HEI) 1-75 times U-standard perpetual contract
Binance announced the launch of Heima (HEI) and will support HEI trading in multiple functions such as financial management, one-click buying of coins, flash exchange, leverage and contracts. The specific arrangements are as follows: Binance Financial Management: HEI current guaranteed currency earning products will be launched at 16:00 on February 13, and users can subscribe immediately; from 18:00 on February 14, users can purchase HEI through the fixed investment platform. Buy coins with one click & sell coins: Users can purchase HEI through credit cards, Google Pay, Apple Pay, etc., or use their wallet balance to buy and sell transactions. It is expected to be opened within one hour after HEI is launched in spot stock. Flash exchange transaction: HEI can be converted into BTC, USDT or other tokens, and the exchange is free of charge and is expected to be open within one hour after it is launched. Leveraged Trading: HEI will be added as borrowable assets at 19:00 on February 13, and supports HEI/USDT and HEI/USDC trading pairs. VIP 7 to VIP 9 users can borrow related assets 30 minutes in advance. Contract Trading: The HEI U standard perpetual contract will be launched at 17:00 on February 13, supporting 1-75 times leverage.
Upbit will launch TRUMP in Korean won, BTC, USDT markets
According to the official announcement, South Korean crypto exchange Upbit will launch TRUMP in the Korean won, BTC, and USDT markets, and trading will start at 17:00 (expected).
Bittensor will be launched to upgrade dTAO to optimize the token issuance mechanism
According to Bittensor's official Discord announcement, the Dynamic TAO (dTAO) upgrade will be launched from 16:00 to 17:00 Eastern Time on February 13. The upgrade is considered the most important upgrade since the establishment of the Bittensor network, aiming to change the issuance mechanism, from a trusted capital allocation model of a few large validators to an issuance mechanism that is entirely determined by the market. After the upgrade, each AI market (now TAO subnet) will be operated with independent tokens, and the issuance volume will be dynamically adjusted according to the relative market price of each token to enhance fairness and liquidity.
BNB's market value surpasses Solana and rises to fifth place in cryptocurrency market value
CoinGecko market shows that BNB (Binance Coin) has risen 23.7% in the past week and is now at $709.13, with a total market value of $103.5 billion, successfully surpassing Solana (SOL)'s $96 billion market value and jumping to the fifth largest asset in the crypto market. Solana is currently quoting $196.61, and its market value has fallen to sixth place. BNB's recent strong rise may be affected by the increase in market demand and the expansion of BNB Chain's ecosystem.
MyShell will launch SHELL token generation activity in Binance Wallet and PancakeSwap
According to the official announcement, MyShell will conduct token generation activities (TGE) on Binance Wallet and PancakeSwap from 10:00 to 21:59 on February 13 (Beijing time). SHELL token subscription details: • Total fundraising: US$800,000 (BNB settlement) • Total issuance: 40 million (accounting for 4% of the total supply) • Token unit price: 0.00003175 BNB (approximately US$0.02) • Personal subscription limit :3 BNB • Distribution method: Distribution according to the subscription amount (Pro-rata Basis) • Locking period: No locking • DEX transaction launch time: 22:00 on February 13 (Beijing time) Participation method: Users need to be in Binance Create a Keyless wallet within Wallet, hold BNB and submit subscriptions within the event time. MyShell tokens will be used for governance, AI content creation support, in-platform payments and asset transactions. Important reminder: SHELL tokens will not be traded before the end of TGE. All tokens circulating in advance are fake tokens. Please be sure to verify the official contract address.
Coinbase will launch POPCAT and PENGU transactions
According to Coinbase announcement, the platform will soon support Popcat (POPCAT) and Pudgy Penguins (PENGU) transactions on the Solana network (SPL token). Users need to make sure they transfer money only on the Solana network to avoid losing funds. The POPCAT-USD and PENGU-USD trading pairs are expected to be launched on or after 9AM Pacific time on February 13 (1AM Pacific time on February 14, Beijing time) provided that liquidity conditions are met. Some regions may be subject to transaction restrictions.
Robinhood Q4 crypto trading volume surges 400% to $70 billion
According to The Block, Robinhood released its fourth-quarter financial report, showing that its cryptocurrency trading volume increased by 400% year-on-year to $70 billion. Previously, the transaction volume continued to decline in 2024, with US$36 billion, US$21.5 billion and US$14.4 billion in the first three quarters respectively. The company's Q4 transaction revenue increased by 200% year-on-year to US$672 million, of which cryptocurrency transaction revenue reached US$358 million, an increase of 700%. Meanwhile, stock trading volume rose 154% to $423 billion. Robinhood added 7 new crypto assets during Q4 and launched Ethereum staking services in the EU. Robinhood CEO Vlad Tenev said in December that the company had discussed the possibility of holding Bitcoin internally, but there was no BTC reserve plan yet. In early 2025, the company also foresees the launch of Bitcoin, oil and gold futures trading.
Phantom wallet service has returned to normal
According to Phantom announcement, all services have now returned to normal. The official apologized for the downtime incident and emphasized the importance of understanding the user's access to assets, promising to take measures to prevent similar failures in the future.
Viewpoint
Glassnode: Soft market liquidity and slowing network growth may cause BTC to fall to $92,000
Glassnode co-founder Negentropic said that after inflation data was higher than expected, the price of Bitcoin once hit a liquidity point of $94,000 and fell back to $96,000 after a brief rise to $98,000. He pointed out that current weak market liquidity and slowing network growth are potential risk signals, and if conditions do not improve, the price of Bitcoin may further fall to $92,000.
Important data
The Ethereum Foundation deposits 10,000 ETH to Aave and Spark each
According to Lookonchain monitoring, the Ethereum Foundation has just deposited 10,000 ETH into Aave and Spark respectively, with a total value of about $53.48 million. Previous news, the Ethereum Foundation transferred 50,000 ETH to a multi-signment wallet for participating in DeFi.
According to Whale Alert monitoring, 20 million TRUMP tokens worth approximately $342 million were transferred from Binance to an unknown new wallet at 14:47. Earlier today, it was reported that Upbit will launch TRUMP in the Korean won, BTC, and USDT markets.
According to Whale Alert monitoring, about 1.4 billion USDCs were transferred from Binance to the starting address of 0xad354 from 10 minutes ago, of which: 700 million USDCs were transferred to the starting address of 0xad354 at 14:57; 699,999,990 USDCs were transferred to the starting address of 0xad354 at 14:56 address.
According to The Block, the trading volume of Pump.fun tokens on Solana has cooled down recently, with an average daily trading volume in the past week being only $560 million, a new low since Christmas 2024, compared with a single-day high of 3.13 billion three weeks ago The US dollar fell sharply by 82%. In addition, the Raydium graduation rate of Pump.fun tokens is also declining, with an average of only 1.04% of the tokens successfully graduating last week, compared with 1.54% and 1.59% respectively in the first two weeks. Meanwhile, Jito validator tips on Solana's network also fell from 68,500 SOL ($17.5 million) two weeks ago to 23,800 SOL ($4.8 million) last week, indicating a decline in transaction activity. Solana's recent meme coin market has been described as a "roller coaster for euthanasia" effect, that is, the market value high of each round of the new currency has gradually decreased. For example, $TRUMP once reached $75 billion FDV, while subsequent $MELANIA, $VINE, $JELLYJELLY and the latest $JAILSTOOL market value peaks fell to $13 billion, 500 million, 250 million and 220 million in turn, indicating that market sentiment has gradually cooled down, indicating that market sentiment has gradually cooled down .
A giant whale extracted 104,500 ETH from Binance within two days, worth US$279 million
According to Spot On Chain, a giant whale net withdraws 104,509 ETH (about $279 million) in the past two days, with an average price of $2,669, and deposits or pledges most of its funds to Etherfi, Lido Finance, Spark, Compound, Decentralized platforms such as Aave, Gearbox and Morpho.
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