PA Daily | Six of Trump's cabinet members hold BTC or related investments; Ripple obtains Dubai license

Today's news tips:

Six of Trump's 22 cabinet members hold Bitcoin or related investment products

Ripple has obtained Dubai license and will provide crypto payment services in the UAE

TRUMP will be practical as fake news because of hackers

China Banknote Printing and Mint Group: Never sells virtual currencies through any channel

Venice airdrop ends, $100 million unreceived VVV tokens is destroyed

Crypto Analyst Eugene: BTC may test 66k key levels, low probability of short-term reversal

Founder of DeFiance Capital: The crypto market may have entered the end of the "fat protocol theory"

Coinbase will launch Maple Finance (SYRUP) transactions

Regulatory/Macro

Six of Trump's 22 cabinet members hold Bitcoin or related investment products

According to a survey by Fortune magazine, multiple members of Trump's cabinet hold Bitcoin directly or indirectly. According to financial disclosure documents, 6 of the 22 cabinet members hold Bitcoin or related investment products. For example, Secretary of Health and Human Services Robert Kennedy Jr. holds a Bitcoin account worth $1 million to $5 million; Secretary of Defense Pete Hegseth holds a Bitcoin worth $15,000 to $50,000; and Secretary of Finance Scott Bessent discloses holding a Bitcoin-related ETF worth $250,000 to $500,000. In addition, Transport Minister Sean Duffy holds $250,000 to $500,000 worth of Bitcoin and other crypto investments, Russell Vought, director of the Office of Budget Management, and Tulsi Gabbard, director of the National Intelligence, also disclosed different amounts of Bitcoin assets, and some officials said they would conduct asset divestitures under the ethical agreement.

Ripple has obtained Dubai license and will provide crypto payment services in the UAE

According to the official announcement of Ripple, Ripple has obtained regulatory license from the Dubai Financial Services Authority (DFSA) and has become the first blockchain payment provider in Dubai International Financial Centre (DIFC), officially launching compliant cross-border crypto payment services in the UAE.

TRUMP will be practical as fake news because of hackers

According to @tier10k's latest statement, previous reports on Trump's Meme coins were fake news and his account was suspected to have been hacked. Investors are asked to carefully identify information to avoid being affected by misleading.

China Banknote Printing and Mint Group: Never sells virtual currencies through any channel

China Banknote Printing and Mint Group issued a statement today: Recently, our company has received reports from the public that some criminals pretended to be our company to sell virtual currencies on their websites and apps. Our company hereby solemnly declares that our company has never issued virtual currency through any means. Please be careful not to be deceived and avoid losses in your own economic interests. China Banknote Printing and Minting Corporation is directly affiliated to the People's Bank of China. It is a large state-owned enterprise integrating RMB design, research and development, printing and serving the entire life cycle management of cash, and is committed to the development of the monetary and cultural industry and digital currency research.

Bloomberg: CS2 skin investment performance surpasses cryptocurrency and S&P 500

According to Bloomberg, the ROI of CS2 skin has surpassed the S&P 500 and major crypto assets (Bitcoin and Ethereum) recently, becoming one of the best performing asset classes. Data shows that the total value of items in the CS2 game has exceeded US$4.3 billion and has shown a continuous upward trend, while Bitcoin, Ethereum and S&P 500 indexes all fell during the same period.

Bloomberg: CS2 skin investment performance surpasses cryptocurrency and S&P 500

According to Bloomberg, the ROI of CS2 skin has surpassed the S&P 500 and major crypto assets (Bitcoin and Ethereum) recently, becoming one of the best performing asset classes. Data shows that the total value of items in the CS2 game has exceeded US$4.3 billion and has shown a continuous upward trend, while Bitcoin, Ethereum and S&P 500 indexes all fell during the same period.

Nebraska signs Bitcoin ATM Regulation Act LB609 to strengthen anti-fraud protection

According to Decrypt, Nebraska Governor Jim Pillen officially signed the LB609 Act on March 12, which aims to regulate Bitcoin ATMs and other electronic trading terminals to prevent fraud and ensure the safety of user funds. The bill is part of the Controllable Electronic Record Fraud Prevention Act, requiring Bitcoin ATM operators to clearly disclose all transaction terms to users and provide clear anti-fraud warnings. In addition, if the user reports that he has suffered a fraud within 90 days, the operator must refund him a full amount.

U.S. stocks close: Nasdaq rose 1.2%, Tesla rose more than 7%

U.S. stocks closed on Wednesday, with the Dow Jones Industrial Average initially closing down 0.2%, the S&P 500 rose 0.49%, and the Nasdaq closed up 1.2%. NVDA.O rose 6.4%, Tesla (TSLA.O) rose 7.5%, Walmart (WMT.N) fell 2.6%, and Apple (AAPL.O) fell 1.7%. Among blockchain concept stocks, Strategy (MSTR.O) rose 0.75%, and Coinbase (COIN.O) rose 0.02%.

Viewpoint

Crypto Analyst Eugene: BTC may test 66k key levels, low probability of short-term reversal

Crypto analyst Eugene said the overall trend is still downward, and although there is a possibility that BTC has bottomed out in the 76k or double bottoms in the 74-76k range, this probability is decreasing over time. He pointed out that from a structural point of view, the market has not yet seen enough selling to clear out the excess sentiment in this cycle. He expects BTC to fall to the 66k psychological threshold set by Michael Saylor and pay attention to the market's performance below that price. It is also mentioned that the uptrend or range of BTC has been broken within all time frames, and 75k is currently the last key support level. In addition, he mentioned that BTC is highly correlated with stocks and is not expected to have a short-term reversal due to Trump, Bessent or Powell's policies. He said that if the PPI data performs well tonight and BTC reaches a high of 80k range, he may consider shorting.

Founder of DeFiance Capital: The crypto market may have entered the end of the "fat protocol theory"

Arthur, founder and chief investment officer of DeFiance Capital, said on social media that the crypto market may have entered the end of the "fat protocol theory", which has caused long-term damage to the investment nature of crypto assets outside of Bitcoin. He noted that successful application projects are usually valued at 5 to 15 times the revenue, while infrastructure projects that have hardly grown in the past two years are still valued at 150 to 1,000 times the revenue. He believes that the speculative premium bubble of crypto infrastructure has officially burst.

Project News

OKX will remove multiple spot trading pairs such as XR, GOAL, KP3R, LBR, LAMB, BZZ, GPT, etc.

According to OKX announcement, the platform will remove multiple trading pairs such as XR, GOAL, KP3R, LBR, LAMB, BZZ and GPT from 16:00 to 17:00 on March 20, 2025 (Beijing time), and suspend recharge at 11:00 on March 13 (Beijing time). It is recommended that users manage assets as soon as possible. After being removed from the shelves, uncancelled orders will be automatically revoked and are expected to be completed in 1-3 working days. Starting from 16:00 on June 20, 2025 (Beijing time), the withdrawal function of the relevant currency will be turned off, and users need to complete asset transfer before this.

Coinbase will launch Maple Finance (SYRUP) transactions

According to Coinbase announcement, it will support Maple Finance (SYRUP) as an ERC-20 token to be launched on the Ethereum network. SYRUP recharge is now open and is suitable for areas where Coinbase and Coinbase Exchange support transactions. If the liquidity conditions are met, the SYRUP-USD trading pair is planned to be launched gradually at 0:00 am on March 14th Beijing time (9AM on March 13th PT time).

Coinbase will launch Aethir (ATH) trading, opening trading pairs on March 14

According to Coinbase's announcement, it will support Aethir (ATH) as an ERC-20 token to be launched on the Ethereum network. Users must not transfer money through other networks to avoid losing funds. ATH recharge is now open and is available in areas where Coinbase and Coinbase Exchange support transactions. If the liquidity conditions are met, the ATH-USD trading pair is planned to be launched gradually at 0:00 am on March 14th Beijing time (9AM on March 13th PT time).

Venice airdrop ends, $100 million unreceived VVV tokens is destroyed

According to The Block, the privacy protection AI platform Venice has completed community airdrops, and about $100 million unclaimed VVV tokens were permanently destroyed on Wednesday. Since the launch of VVV tokens on the Ethereum Layer 2 Base network on January 27, more than 40,000 people have received a total of 17.4 million VVV tokens, accounting for 35% of the total community allocation. The 32.6 million VVV tokens destroyed this time account for 65% of the total community allocation, equivalent to one-third of the total Genesis supply, significantly reducing market circulation supply. Nevertheless, 14 million new VVV tokens will be added each year, with an initial inflation rate of 14%, and will be gradually reduced according to the "usage rate" of the Venice API. Venice said it did not conduct VC financing, pre-sales or over-the-counter transactions and has repurchased and destroyed the 1% Genesis Supply Tokens previously sold in response to community questions. In the future, Venice plans to launch image engines, social dynamics, mobile applications and token economy updates.

Important data

A new wallet withdraws more than 200,000 SOLs from Binance 2 hours ago, which is about 25 million US dollars

According to Lookonchain monitoring, a newly created wallet pulled 201,755 SOLs from Binance 2 hours ago, worth about $25 million.

FTX/Alameda redeems 185,000 SOLs from pledge today, most of which flow to the exchange

According to on-link analyst Ember Monitor, FTX/Alameda redeems 185,000 SOLs (about $22.89 million) from the pledge six hours ago and then distributed them to 38 addresses, most of which eventually transferred the SOLs to Coinbase and Binance. Since November 2023, the FTX/Alameda pledged addresses have been redeemed and transferred 7.845 million SOLs (about US$1.009 billion) through similar methods, with an average transfer price of US$128. At present, the FTX/Alameda pledge address still holds 5.502 million SOLs (about 694 million US dollars) and is still in a pledge state.

Financing

nunu.ai completed a $6 million seed round of financing, led by TIRTA Ventures and a16z speedrun

According to official nunu.ai, the company has completed a $6 million seed round of financing, led by TIRTA Ventures and a16z speedrun, and other participants include Factorial Funds, Y Combinator, Earthling, Hartmann Capital, FOV Ventures and New Renaissance Ventures. nunu.ai focuses on the intersection of artificial intelligence, games and robotics technology, and is committed to building the first AI agent that can test and play games, and promoting the intelligent development of the game industry.

Offline Protocol completes $1.1 million Pre-Seed financing, led by Portal Ventures

According to the official announcement of Offline Protocol, the project has completed a US$1.1 million Pre-Seed round of financing, led by Portal Ventures, participated by Seed Club Ventures, and supported by angel investors such as Paul Taylor, Rushi Manchester, and Rahim Noorani. Offline Protocol is committed to building a decentralized, private, and censor-resistant offline network, allowing users to directly control communications, personal finance and information access. At present, its core product OfflineID has covered 15,000 users during the private testing phase, with a total of 70,000 sessions and 240,000 devices.

Indian Web3 startups raise $564 million in financing, developer community expands rapidly

The total amount of financing for Indian Web3 startups reached US$564 million in 2024, which is more than doubled compared with US$270 million in 2023, of which investment in the infrastructure sector increased by more than 200%, becoming the biggest beneficiary. However, this financing scale is still lower than the 2022 peak of US$1.4 billion. India's Web3 infrastructure investment is mainly concentrated in AI, middleware and data tools. Representative projects include EigenLayer, Sentient and Avail. In addition, DePIN (Decentralized Physical Infrastructure Network) and BaaS (Blockchain as a Service) are also supported by financial support. Web3 finance grew 50% to $86 million in 2024, reversing the downward trend since 2021. Funds mainly flow to liquidity re-staking (LRT), real-world assets (RWA) tokenization and multi-chain financial instruments. In terms of developer ecosystem, India has become the fastest growing Web3 developer community in the world, with open source developers growing by 28% year-on-year to 4.5 million, exceeding the total of the top four countries. The report predicts that India is expected to surpass the United States in 2028 and become the world's largest developer community.

Web3 game developer M10 completed a seed round of $3 million, with Sui Foundation and others participating in the investment

Web3 game developer and publisher M10 completed a $3 million seed round of financing, with Sui Foundation, GSR, Big Brain Holdings, Monoceros, Blockchain Founders Fund and Presto Labs participating. According to reports, the M10 was founded by a group of veterans in the gaming industry who hope to surpass the F2P model. Team members include CEO Maitham Mohamed (Forbes 30 elite under 30, semi-professional FIFA players), President Lars Buttler (co-founder of Trion Worlds) and Chief Creative Officer Martin Capel (director of Ubisoft Assassin's Creed).