Weekly | Federal Reserve Chairman Powell: Supports the establishment of a regulatory framework around stablecoins; Zhao Changpeng: Will not issue Meme coins in person, it depends on whether the community does this; US SEC has confirmed to accept DOGE ETF
Reprinted from chaincatcher
02/16/2025·2MCompiled by: Luan Peng, ChainCatcher
“What important events happened this week (2.10-2.16)”
Jupiter co-founder meow pointed out that “we need to launch major tokens in a better way, and the existing 'fog of war' state is extremely unfavorable for the development of the entire industry.”
meow added that the Central African Republic (CAR) government office has been contacted to further confirm the authenticity of the CAR token and will update the relevant information in real time.
meow emphasized that the team temporarily verified the CAR token to prevent users from purchasing the wrong token, but there are still many unknown factors , including the source of tokens, locked positions, etc. , reminding investors to pay attention to risks .
According to Kingshin, Federal Reserve Chairman Powell said he supports establishing a regulatory framework around stablecoins.
3.US SEC has accepted 21Shares, Bitwise, Canary and VanEck's Solana spot ETF applications
Several institutions have submitted applications for Solana Spot Exchange Traded Fund (ETF) to the U.S. Securities and Exchange Commission (SEC), and the SEC has confirmed that it has received and accepted relevant documents.
Cboe BZX Exchange filed a proposed rule change form to support the listing and trading of Solana spot ETFs issued by 21Shares, Bitwise, Canary Capital and VanEck. Previously, the Solana ETF applications for these companies were denied.
Bloomberg ETF analyst James Seyffart and Eric Balchunas said Monday they see the SEC's chances of approving the Solana ETF at 70%. Franklin Templeton also appears to be preparing to join the Solana ETF, which filed documents in Delaware on Tuesday to register the Franklin Solana Trust.
According to WLFI official announcement, World Liberty Financial (WLFI) announced the launch of the Macro Strategy Strategic Reserve Fund, aiming to support leading crypto assets such as Bitcoin and Ethereum and enhance market stability. The strategy will be used to diversify investment, reduce market volatility, promote the development of the DeFi ecosystem, and strengthen community trust.
WLFI is establishing strategic cooperation with traditional financial institutions to promote the inclusion of tokenized assets into reserves and improve transparency through open blockchain wallets. In addition, WLFI plans to conduct joint marketing and branding to expand the influence of partner institutions. The full proposal will be released in the Governance Forum, and community members can participate in the discussion and provide feedback.
5.Jiangsu High Court: Overseas virtual currency investment is not protected by our country's laws
According to the official account of the Jiangsu High Court, the Jiangsu High Court released typical cases of foreign-related commercial trials, pointing out that overseas virtual currency investment is not protected by my country's laws. In related cases, Singaporean citizen Pan and Chinese citizen Tian signed a cooperation agreement with non-parties to jointly operate the "MFA blockchain" project. Pan transferred 15.74 million yuan to Tian to purchase MFA virtual currency. However, afterwards, the virtual account involved in the case was locked and the principal could not be traded was completely lost, and Pan filed a lawsuit with the court.
The Jiangsu High Court held in the second instance that Pan Moumou is a Singaporean citizen and this case has foreign factors. According to the application of laws and regulations of our country, if it involves my country's financial security and social public interests, the mandatory provisions of our country's laws and regulations should be directly applied, which are prohibited by my country's laws and regulations. Virtual currency investment. In this case, the parties signed a contract to speculate overseas virtual currencies, which violated the mandatory provisions in the field of financial supervision in my country. The investment losses claimed by the parties shall not be protected according to law, and the losses caused by this shall be borne by the parties themselves.
6.Federal Reserve Chairman Powell: Many cryptocurrency-related activities can be carried out in banks
Federal Reserve Chairman Powell said many cryptocurrency-related activities can be carried out in banks. (Jin Shi)
7.Binance Alpha adds ONDO, MORPHO, AERO, VIRTUAL
According to the official page, Binance Alpha has added ONDO, MORPHO, AERO, and VIRTUAL.
The Ethereum Foundation officially stated that 10,000 ETH to Spark, 10,000 ETH to Aave Prime, 20,800 ETH to Aave Core, and 4,200 ETH to Compound have been deployed. There is more content in the future, including exploring pledges.
9.Stabilized coin company Plasma completed a $24 million financing, led by Framework Ventures
According to Fortune, stablecoin company Plasma completed a $24 million financing, led by Framework Ventures, and participated in the investment by cryptocurrency exchange Bitfinex, famous venture capitalist Peter Thiel and Tether CEO Paolo Ardoino.
Plasma plans to launch its own blockchain in the coming months. Plasma co-founder Paul Faecks said that the project is based on Bitcoin blockchain development, adopts a unique consensus mechanism, focusing on optimizing stablecoin transaction efficiency, and will support DeFi protocols such as Curve, Ethena and Aave.
According to RootData , Plasma is a scalable payment and financial infrastructure on Bitcoin. Plasma is built on native UTXO and allows the use of BTC to pay for gas and works seamlessly with existing Bitcoin infrastructure. By leveraging a hybrid UTXO/account architecture, users can unlock new features for holding, staking and deploying their Bitcoins.
10.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 on X.
Zhao Changpeng said that he would not issue meme coins in person and would interact with some of the more popular meme coins on BNB Chain (BSC). The BNB Foundation may offer rewards for the head memes on the BNB chain.
11.Zhao Changpeng: I won’t issue Meme coins in person, it depends on whether the community does this
Binance founder Changpeng Zhao (CZ) said on X platform: "I just posted photos and names of my dog. I won't issue Meme coins in person. It depends on whether the community does this. I may be with BNB Chain (BSC) Interact on some of the more popular meme coins. The BNB Foundation may offer rewards for top memes on the BNB chain, giving LP support or other rewards. Details are still under discussion. More content will be released soon.”
12.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.
13.Musk changed X's profile to "Volunteer Tech Support"
Musk changed his profile description to "Volunteer Tech Support".
According to the official announcement, starting from February 14, 2025, Binance will update the token information method and include the token unlocking plan in information about market value and circulation supply.
The new approach will work with listed projects to provide necessary details about their token unlocking plans. The new method is to include unlocked tokens into market capitalization. Unlocked tokens will have their token unlock program available for viewing.
With this update, users can now view the token unlocking plan and their details for each project through the links provided in the Project Overview section on the Binance website and the Binance app.
- Market capitalization: calculated by multiplying the circulating supply by the current price. This includes unlocked tokens. If the unlocked token data is not available, non-publicly accessible tokens will be excluded.
- Fluidity: Tokens available for trading will include unlocked tokens. If data for the unlocked token is not available, non-publicly accessible tokens will be excluded.
15.The person in charge of BNBChain Ecological Development, Yiwei, has resigned this week
According to Wu, BNBChain's ecological development director Yi Wei has resigned from BNBChain this week. Yiwei joined BNBChain in August 2024 and left OKX in July 2024.
16.Binance launches BNSOL Super Stake Phase 6 project Pepe (PEPE)
Binance announced a partnership with Pepe (PEPE) to launch the sixth phase of the BNSOL Super Stake project. From 08:00 on February 17, 2025 to 07:59 on March 17, 2025, users who hold BNSOL in their Binance account and Binance Wallet, or stake SOL to BNSOL, will receive a PEPE APR Boost airdrop reward .
PEPE APR Boost airdrop rewards can be collected at around 13:30 every day from February 18, 2025 (East Eighth District time).
17.Zhao Changpeng: Can't tweet anymore, tweets are always over-interpreted
Zhao Changpeng posted on X platform: "You can't tweet anymore. People always over-interpret my tweets, and any mention of anything will be attached with some extra meaning."
18.Vitalik: Even in L2-dominated Ethereum, L1 Gas restrictions need to be increased
Ethereum co-founder Vitalik Buterin released the latest article "Reasons for the need to increase L1 Gas restrictions even in L2-dominated Ethereum." The article said that an important recent discussion in the Ethereum roadmap is about how to increase the L1 gas cap.
Recently, the L1 gas cap has increased from 30 million to 36 million, with a 20% increase in capacity. Many support further significant increases in the near future. These increases are secure due to recent and upcoming technological improvements: increased efficiency of Ethereum clients, reduced demand for storing old history due to EIP-4444 (see roadmap), and stateless clients in the future.
However, before we go this path, it is important to ask a question: Is it the right thing to do to increase the L1 gas cap in the long run in the context of a Rollup-centric roadmap? We do not want to end up with the centralized risk of high L1 use without really sure we will benefit from it.
According to the Argentina Presidential Office, “On October 19, 2024, President Javier Milei held a meeting with representatives of KIP Protocol in Argentina. During this meeting, the company representative introduced the president to his The intention of the project to develop a project called "Viva la Libertad" ("Long Live Freedom") aims to use blockchain technology to provide financing for private enterprises in Argentina.
The meeting was officially recorded in the public hearing register, with participants including the President of the State, Mauricio Novelli and Julian Peh, representatives of KIP Protocol, as well as a presidential spokesperson Manuel Adorni.
Against this backdrop, on January 30, 2025, the President met with Hayden Mark Davis at the Presidential Palace, Casa Rosada. According to a representative from KIP Protocol, Mr. Davis will provide the technical infrastructure for the project. Mr. Davis has neither associated nor established any relationship with the Argentine government, and he was introduced as a project partner by a representative of KIP Protocol.
Finally, yesterday, the President posted a message on his personal social media account announcing the launch of the KIP Protocol project, similar to how he supports many entrepreneurs who want to launch projects in Argentina to create jobs and attract investment. As the project’s launch has attracted widespread attention, the president decided to remove the post to avoid any speculation and reduce further spread.
In view of the above, President Javier Mille decided to immediately hand the matter over to the Office of Anti-Corruption (OA) to determine whether there are any misconducts in this incident by members of any national government, including the President himself.
In addition, the President of the State decided to set up an investigation task force (UTI) under the President's Office, which will be composed of representatives of institutions and departments in related fields such as crypto assets, financial activities, money laundering, etc., to integrate relevant information to facilitate the release of the cryptocurrency LIBRA and All relevant companies or individuals conduct emergency investigations.
All information collected during the investigation will be transferred to the judiciary to determine whether the business or individual related to the KIP Protocol project is suspected of committing a crime.
President Mile demonstrated his pursuit of the truth with practical actions and promised to investigate the incident to the end until the truth is revealed. ”
According to Bitcoin.com, the new governor of the Brazilian central bank, Gabriel Galipolo, said that more than 90% of the country's cryptocurrency use is stablecoin transactions. The central bank's analysis found that stablecoins are mainly used for cross-border payments and evade taxes and money laundering risks.
Galipolo pointed out that the central bank initially believed that the stablecoins were popular because it provided the public with convenient ways to hold the dollar. However, after in-depth research, it was found that a large number of stablecoin transactions were related to cross-border shopping and the transaction methods were opaque and might be used to evade tax or money laundering activities. He also criticized some citizens for their pursuit of privacy, believing that it is often related to illegal activities.
Galipolo revealed that the Brazilian central bank proposed new regulations in December last year, intending to peg stablecoins to foreign currency regulation, and may prohibit individuals from holding stablecoins. If the regulations are finally passed, Brazilian users will restrict participation in decentralized finance (DeFi) activities, because most DeFi platforms require users to manage their own funds.
“What are some great articles worth reading this week (2.10-2.16)”
1.2025 Encryption Preview - Listen to what major investment institutions say (II)
At the beginning of the New Year, the global investment environment continues to change, and various emerging technologies and market trends continue to emerge. In this context, how investors formulate long-term strategies and how to evaluate and select investment projects has become a topic of widespread attention within and outside the Crypto industry.
In this regard, RootData and ChainCatcher hosted the interview. In the last issue, we invited investment institutions including OKX Ventures and Bixin Ventures to make constructive replies. The investment institutions invited in this issue include IOSG Ventures, Bing Ventures, Waterdrip Capital and many other representative investment institutions. They have in-depth discussions on investment trends and suggestions in 2025.
While crypto community is wailing everywhere, many "Qing Dynasty legacy" born in the previous two cycles have successively announced the issuance of coins.
Last night, OpenSea first announced that it would launch $SEA tokens, and then Doodles also officially announced that it would launch token $DOOD on Solana. These are the other two NFT leaders following Fat Penguin and Azuki that are involved in the coin issuance craze.
Not only the NFT track, but also the privacy projects that were very popular in the last cycle but almost disappeared in 2024 seem to have begun to extend their lives by issuing coins. Last night, the Ethereum privacy layer Aztec Network, which was collectively bet by investment groups such as a16z and Paradigm, also established a foundation to prepare for the upcoming TGE.
As a16z's leading investment project with a crypto project with a valuation of up to US$2.25 billion, Story Protocol's recent performance surprised community users.
On February 13, Story Protocol's official official finally revealed the high-profile details of the airdrop plan. However, unlike the generous feedback expected, this airdrop plan has caused a lot of controversy and dissatisfaction. Many studios and investors have said that the conditions for this airdrop are too harsh, and the witch alone has three lines of defense, and the amount of airdrop tokens issuance is far lower than expected, and has been "reversed".
To make matters worse, on the same day, Story Protocol Token (IP) officially launched TGE and immediately launched exchanges such as CoinBase, Bithumb, and MEXC. The market performance of tokens after they were launched is also surprising. After the coin price opened from US$2.3, it has fallen all the way, reaching as low as US$1.7. The market value and financing valuation of the secondary market have already shown an inverted phenomenon.
This series of events undoubtedly brought a heavy blow to Story Protocol's community users. Many users said that they were unspeakable about the disappointment of the project's airdrop plan and TGE performance, and even began to question the project's long-term development prospects. Some users have publicly protected their rights in the official Story Protocol community.
4.The Meme's annual farce caused by CZ pet dog ended with scolding
In the early morning of Beijing time, after repeatedly stoking her appetite, Zhao Changpeng finally posted photos and stories of his pet dog Broccoli. The young players and the players who were pulled up to the expectations were ready and ready. However, including Zhao Changpeng and BNBChain, it was far from expected that a small picture of a pet dog triggered a large meme fight and leeks. massacre".
Recently, due to the influence of macro policies, the cryptocurrency market has generally continued to fluctuate and shown a downward trend. As the meme craze gradually faded, many meme-related currencies also cooled down. However, the meme coin TST on BNB Chain unexpectedly ushered in explosive growth, attracting widespread attention.
From obscurity to market value soaring to hundreds of millions of dollars, TST's rise not only attracted the market, but also triggered heated discussions about the logic of Binance's currency listing.
This article will review the ins and outs of the TST incident and explore the market logic and controversy behind it. From the initial test tokens to the Binance spot trading, every step of TST is full of drama. Under Binance's "light speed listing" operation, TST's market value soared from US$500,000 to US$500 million, an increase of more than 100 times. However, the plunge after going online caused heavy losses to many investors, causing doubts about Binance's currency listing process.
Next, we will analyze it one by one from the birth, outbreak, to the controversy.
6.Behind the KOL Inverse: Is the Kaito Yap model really sustainable?
Have you noticed that when I was browsing X these days, many KOLs I have been paying attention to have started to yap. What are you all in Yap?
Yaps is a points system launched by Kaito, an AI-driven encrypted data analysis and social incentive platform. X users can earn Yap points by publishing high-quality encrypted content (tweets, interactions). Recently, Berachain airdrops to Yapper and Yapper. Today, Kaito also announced that it would open the ANIME token claim to Yapper and Kaito Genesis NFT holders of the top 1,000 ANIME (Azuki’s anime project Anime token) Yapper and Kaito Genesis NFT holders, plus Story Protocol, Movement Labs, MegaETH and other projects cooperated with Kaito, and the expectation of "projects on Yap Kaito can get airdrops" has once again pushed Kaito's popularity.
Similar to the flywheel trajectory of Web3 social networking, KOLs and celebrities who have accumulated influence are like fish in the Yaps points system. They enjoy outputting articles on X and forming a matrix with other ICTs (Inner Crypto Twitter). The advantage is that there are more discussions about encryption and popular projects, and foreseeable disadvantages are gradually emerging, such as the flood of low-quality content, excessive interactions have caused harassment to KOLs, and deeper levels such as influence monopoly, Kaito Recently, it has also announced that it will soon launch a shadow ban to improve the current chaos through technical means. But the controversy and doubts continue.
In 2024, fundamental analysis faces a full-scale collapse in the encryption field, and the current market is increasingly confirming the saying "Attention in crypto is everything". If Meme is some result of the attention economy, Kaito is more like an upstream business of the attention economy, i.e. how to manage and distribute attention. But the essence of attention-based economy is that the next one is better. As a product of this era, can Kaito itself overcome short-term behavior and become a sustainable and practical product?
This article will analyze Kaito in detail. Because of the existence of Yap, there are currently many short essays about Kaito on X, but I still recommend you to read this article.
EdgeX has received support from two well-known Web3 capitals and is expected to announce the specific financing situation during Q2 or Q3.
8.Arthur Hayes: The Future of Political Memecoin
Over the past century, with the advancement of communication technology, the essential skills for politicians to attract people have also changed. To illustrate my point, I would like to quickly review the history of the President of the United States and look at key advances in communications technology.
As the founder and largest shareholder of Binance, CZ's every word and action may affect market sentiment and trends. Recently, CZ has been "supporting" for BNB Chain on Twitter, launching BSC's meme coins on Binance, emphasizing the technological advantages and ecological potential of BNB Chain, drawing a development blueprint for 2025, and arousing widespread market attention. Driven by CZ, BNB Chain eco-tokens ushered in general growth, setting a new high this year.
Every time CZ makes a sound, it is like a "deep water bomb", causing layers of turmoil in the crypto market. From the bold statement that "BNB Chain has been imprisoned for too long, it's time to unblock the constraints" to the change in attitude towards meme coins, CZ's return undoubtedly injects a booster into BNB Chain. And is this ecological boom triggered by the "CZ effect" a flash in the pan or is it the starting point for BNB Chain to return to the peak?
Since Trump officially entered the White House, favorable policies have frequently appeared. Recently, Trump has nominated former Bitfury Chief Legal Officer Jonathan Gould as the director of the U.S. Office of the Comptroller of the Currency (OCC), responsible for overseeing the national banking system. The nomination was submitted to the Senate on February 11 and serves a term of five years.
In addition, he nominated Brian Quintenz, head of policy at a16z, as chairman of the Commodity Futures Trading Commission.
The influence of the US Currency Complaint cannot be underestimated. It is one of the most influential banking regulators in the United States. OCC-regulated banks control most of the U.S. banking industry, including major banks such as Citibank, JPMorgan Chase, and Bank of America. Due to the core position of the U.S. banking system in the global financial market, OCC policies will affect international interbank transactions, dollar clearing system, and global financial stability. In recent years, OCC has allowed national banks to provide crypto custody services and explored the integration of stablecoins and banking systems, which has a far-reaching impact on the compliance development of the crypto industry.
Kristin Smith, CEO of Blockchain Association, a crypto industry advocacy group, issued a statement saying Gould is an excellent candidate to serve as the U.S. Office of the Regulatory Commissioner, whose experience in the crypto industry allows him to effectively lead the agency. Lectric Capital co-founder Avichal Garg also said Gould's nomination is a very positive development for fintech and cryptocurrency founders looking for better financial services.
So who is Gould, who can get such a high evaluation?
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