Weekly Preview | FTX Starts Debt Repayment; Consensus Hong Kong will open on February 18

News trailer:

• FTX will repay creditors starting from February 18, 2025;
• Consensus Hong Kong will be held from February 18 to 20, 2025:
• Germany will elect a new parliament on February 23, and the party hopes to withdraw from the euro zone and relax its regulation of Bitcoin;
• Murasaki (MURA) will unlock about 20 million tokens at 8 a.m. Beijing time on February 23, with a ratio of 2.00% to the current circulation and a value of about 85.4 million US dollars;
• Melania Meme (MELANIA) will unlock approximately 61.25 million tokens at 8 a.m. Beijing time on February 20, with a ratio of 40.83% to the current circulation, and a value of approximately US$81.5 million;
• Fasttoken (FTN) will unlock about 20 million tokens at 8 a.m. Beijing time on February 18, with a ratio of 4.66% to the current circulation, worth about 78.6 million US dollars.

February 17

Exchange:

Russian broker Finam will issue notes pegged to BlackRock Bitcoin ETF on February 17

Russian retail brokerage Finam will launch an investment product pegged to BlackRock iShares Bitcoin Trust ETF (IBIT) on February 17, giving qualified Russian investors the opportunity to access spot Bitcoin ETFs for the first time. Finam's upcoming IBIT bonds will be denominated in Russian rubles, and the yield will be calculated in USD equivalent based on the exchange rate of the Russian Central Bank. If the price of the Bitcoin ETF at the time of the note expires is at least one basis point higher than the price at the time of the product being launched, investors will receive a US dollar yield of up to 20%. The minimum investment is 200,000 rubles, or about $2,200 at the time of writing. Brokerage commission is 1% (in rubles). In addition, Finam also plans to launch more similar products linked to Ethereum spot ETFs.

Binance Leverage will remove leveraged trading pairs such as HMSTR/FDUSD, SAGA/BTC on February 17

Binance Leverage will remove the following leveraged trading pairs on February 17, 2025 at 14:00 (East Eighth Time):

• Full warehouse leverage: HMSTR/FDUSD, SAGA/BTC

• Leverage per position: HMSTR/FDUSD, ILV/BTC, LTO/BTC, MDT/BTC, SAGA/BTC

Binance will launch the sixth phase of BNSOL super staking project Pepe (PEPE) on February 17

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.

Policy Supervision:

The Hong Kong Securities and Exchange Commission will hold two cybersecurity webinars on February 17 and 19 respectively, and virtual asset service providers are invited

The Hong Kong Securities Regulatory Commission issues a network security webinar circular to licensed corporations, virtual asset service providers and contact entities licensed by the China Securities Regulatory Commission. It is reported that the Hong Kong Securities Regulatory Commission will hold two online meetings on February 17 and 19, 2025 respectively. A cybersecurity webinar was held to raise security awareness of emerging cyber threats in Hong Kong.

Token unlock:

ApeCoin (APE) will unlock approximately 15.6 million tokens at 8:30 pm on February 17, Beijing time, with a ratio of 2.16% to the current circulation, worth approximately US$11.4 million.

Echelon Prime (PRIME) will unlock approximately 750,000 tokens at 8 a.m. Beijing time on February 17, with a ratio of 1.37% to the current circulation, worth about US$5 million.

February 18

Exchange:

FTX will repay creditors starting February 18, 2025

FTX creditors, on behalf of Sunil, disclosed on X that FTX plans to start debt repayment from February 18, 2025 at 10 a.m. ET. The repayment will be preferred to creditors whose claims amount is less than $50,000. It is reported that the repayment amount will include 100% of the award amount determined (capitalized at US$50,000) and will provide an additional compensation of 9.0% annual interest from November 11, 2022 to the initial allocation date.

Coinbase derivatives platform plans to launch Solana and Hedera futures on February 18, 2025

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.

Project News:

BNB Chain will launch $4.4 million Memecoin liquidity support program on February 18

Starting February 18, BNB Chain launches a $4.4 million Memecoin liquidity support program. BNB Chain will focus on the head Memecoin daily and weekly and inject BNB liquidity directly from the BNB Chain Foundation's wallet into the liquidity pool of winning projects. BNB Chain will offer 50% BNB + 50% Memecoin (buyed from the market) and add to the Memecoin’s most active liquidity pool. This liquidity will remain in the pool forever and will not be extracted. Winning criteria:

• Market value: Need to reach $1M or more
• Active holding address: no less than 1,000
• Token supply contribution: The project needs to add 10% of the total supply to the liquidity pool
• Holding Distribution: The top 10 externally owned accounts (EOA) holds the total supply of supply not exceeding 10%. These holders are encouraged to manage assets through locking positions or linear releases
• Security measures: Projects must verify their token source code at BscScan or pass security audit

Community Activities:

Consensus Hong Kong will be held from February 18 to 20, 2025

Token unlock:

Fasttoken (FTN) will unlock about 20 million tokens at 8 a.m. Beijing time on February 18, with a ratio of 4.66% to the current circulation, worth about US$78.6 million.

QuantixAI (QAI) will unlock approximately 565,700 tokens at 8 a.m. Beijing time on February 18, with a ratio of 10.88% to the current circulation, worth approximately US$48.2 million.

February 19

Token unlock:

Pixels (PIXEL) will unlock approximately 91.18 million tokens at 6 pm Beijing time on February 19, with a ratio of 11.83% to the current circulation, worth about US$6.3 million.

February 20

Macroeconomics:

The Federal Reserve will release minutes of January 's monetary policy meeting on February 20

Exchange:

Coinbase International Station will launch the Spx6900 and Kaspa perpetual contract on February 20

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.

Project News:

$DIN Phase 2 airdrop will be launched on February 20

The second phase of the first AI Agent blockchain DIN will be launched at 4 pm Beijing time on February 20. In addition, the $DIN staking function has also been launched, and holders can earn more $DIN through staking.

TON Foundation launches the "TON Mini Program Migration Funding Plan", and applications will be closed on February 20

TON official said on the X platform that from February 21, Telegram will implement new regulations for blockchain mini-programs, because TON blockchain has become the exclusive blockchain infrastructure of the Telegram mini-program ecosystem. To ensure that this transition is as smooth as possible, the TON Foundation has launched the "TON Mini Program Migration Funding Program", an initiative specifically to help mini programs migrate from other chains to the TON blockchain. Developers and builders will receive the following support: 1. Eligible projects can earn $50,000 in advertising points; 2. Seamless migration through TON Connect; 3. Improve visibility with Telegram user base; 4. Technology to ensure success and marketing support. Applications will be closed on February 20.

Token unlock:

Melania Meme (MELANIA) will unlock approximately 61.25 million tokens at 8 a.m. Beijing time on February 20, with a ratio of 40.83% to the current circulation, worth approximately US$81.5 million.

February 21

Token unlock:

Metars Genesis (MRS) will unlock about 10 million tokens at 8 a.m. Beijing time on February 21, with a ratio of 11.87% to the current circulation, worth about US$29.2 million.

Immutable (IMX) will unlock approximately 24.52 million tokens at 8 am on February 21, Beijing time, with a ratio of 1.41% to the current circulation, worth approximately US$20.1 million.

February 22

Project News:

Eliza Labs to collaborate with EigenLayer on February 22 to host AI Agent Hackathon

Ethereum restaking agreement EigenLayer announced that it will cooperate with Eliza Labs to hold an AI proxy hackathon in downtown Denver from February 22 to March 3, 2025.

Token unlock:

SPACE ID (ID) will unlock approximately 18.49 million tokens at 8 a.m. Beijing time on February 22, with a ratio of 4.29% to the current circulation and a value of approximately US$5.9 million.

February 23

Policy Supervision:

Germany will elect a new parliament on February 23, with the election party hoping to withdraw from the euro zone and relax Bitcoin regulation

Germany will elect a new parliament on February 23, which could have far-reaching impact on the financial sector in Europe's largest economy. Among them, the far-right German Choice Party ranked second in the polls, but mainstream German parties refused to work with it in any government, meaning its proposals may never be fulfilled. Nevertheless, their financial policy plans are the most specific and radical. The German Choice Party calls on Germany to withdraw from the euro zone, support "widely deregulated" bitcoin, wallets and transactions, oppose digital euros, and so on.

Project News:

Ethereum Foundation opens application for proposals on Pectra Proactive Grant Round, ending on February 23

The Ethereum Foundation announced that it will provide a $200,000 grant to support Pectra's ecosystem upgrade and open the application for the Pectra Proactive Grant Round proposal, with the application date ending until February 23. It is reported that the submitted proposals should comply with one or more of the following key areas:

1. Core protocol support: Develop tools and libraries that directly support protocol-level changes introduced in Pectra, and create infrastructure to ensure that Pectra-related updates are seamlessly integrated into the core protocol; 2. Tools and infrastructure: to builders, stakeholders Updates of essential tools for users and end users, creating new tools to support EIPs directly related to Pectra; 3. Testing and security: Enhancement of testing frameworks and infrastructure, tools to improve network security before and after Pectra upgrades; 4. Adoption and impact Analysis: Projects that track and analyze the adoption of changes introduced by Pectra, tools or frameworks for measuring the impact of Pectra-related EIPs on the Ethereum ecosystem and protocols.

Token unlock:

Murasaki (MURA) will unlock about 20 million tokens at 8 a.m. Beijing time on February 23, with a ratio of 2.00% to the current circulation, worth about 85.4 million US dollars.