Trump signs executive order to establish a strategic Bitcoin reserve
According to Jinshi, White House crypto czar David Sacks revealed that Trump has signed an executive order to establish a strategic Bitcoin reserve. The reserve will be funded by Bitcoin confiscated through criminal or civil forfeiture proceedings, and the government will not purchase any additional assets for the reserve beyond what is obtained through forfeiture proceedings. The government will not sell any of the Bitcoin deposited in the reserve. The Treasury Secretary and Commerce Secretary are authorized to develop a budget-neutral strategy to acquire more Bitcoin. The executive order also establishes a U.S. Digital Asset Reserve. Sacks also said that the U.S. government's early sale of Bitcoin has cost U.S. taxpayers over $17 billion in value. The U.S. government owns about 200,000 Bitcoin, and the executive order requires a full accounting of the federal government's digital assets. Now, the federal government will develop a strategy to maximize the value of the Bitcoin it holds.
Jinshi's analysis indicates that the U.S. is establishing a Bitcoin strategic reserve, but will not actively purchase additional Bitcoin; Fox Business News reporter Eleanor Terrett's analysis indicates that Trump's executive order establishes two types of digital asset holding mechanisms. A Coinbase executive commented that Trump's latest executive order is expected to reduce $18 billion in Bitcoin selling pressure.
The Bitcoin strategic reserve bill in Texas has been passed in the Senate
PANews, March 7 - According to CoinDesk, after President Trump announced the federal government's plan to take similar action, several U.S. states are increasingly inclined to invest public funds in the crypto space, and Texas has emerged as one of the leading competitors in this field. On Thursday, the Texas State Senate passed SB 21, which will allow the state to invest a portion of public funds in digital assets, particularly Bitcoin. Texas Lt. Governor Dan Patrick issued a letter on the "Texas Bitcoin Reserve Act" passing the Senate: "Establishing a Texas Bitcoin Reserve is a bold move that other states should emulate. I stand with President Trump and hope to make Texas the center of America's digital future." Earlier yesterday, a Bitcoin bill in New Hampshire was overwhelmingly approved in a House committee. In addition, nearly a dozen states have been actively pushing through similar allocation-allowing bills, while at least five states have faced setbacks or failed to pass their bills. Utah has consistently been at the forefront of these efforts and only needs Senate approval to send the bill to the governor. However, the legislative session will end this week, leaving little time for the Senate and the state legislature to jointly approve investing up to 5% of public accounts in digital assets.
According to Jinshi citing Bloomberg, more than 20 executives, investors and celebrities in the crypto industry will gather at the White House crypto summit tomorrow, under Trump's leadership, to plan the future development of the crypto space. Sources familiar with the matter said the event is likely to serve as a platform to drive multiple crypto-related executive actions, with several proposals currently under consideration. Sources said Trump may announce that the government will stop selling crypto assets seized in criminal cases and instead use them to establish a national reserve. They also said Trump may issue an executive order to create a true Bitcoin reserve, which is expected to buy more of the digital currency. One source said another potential proposal would involve the tax treatment of cryptocurrencies and would likely require congressional review and approval. These sources said the actions are still under discussion and may ultimately not be implemented or may change.
Fox Business News reporter Eleanor Terrett released an updated list of attendees for the White House crypto summit this Friday (there may be more additions): Garlinghouse (Ripple CEO), Chris Giancarlo (former CFTC chairman and Willkie senior legal advisor), Nathan McCauley (Anchorage Digital CEO), Kris Marszalek (Crypto.com), Cameron Winklevoss and Tyler Winklevoss (Gemini co-founders), Vlad Tenev (Robinhood CEO), Arjun Sethi (Kraken CEO), Michael Saylor (Strategy founder), Brian Armstrong (Coinbase CEO), Sergey Nazarov (Chainlink co-founder), Kyle Samani (Multicoin managing partner), Zach Witkoff (Trump-related crypto project World Liberty Financial co-founder), JP Richardson (Exodus CEO), Matt Huang (Paradigm co-founder), David Bailey (Bitcoin Magazine CEO), Raghu Yarlagadda (FalconX CEO), Shayne Coplan (Polymarket CEO). David Sacks, the White House's AI and crypto czar, commented on this list: "Most of the invitation lists circulating are fake, but this one looks real (though not yet complete). Please note that the Digital Assets Summit is not a conference, but a roundtable. We are very grateful for the interest, but to have a meaningful and in-depth discussion, we need to keep the scale small."
According to the announcement of the Hong Kong Securities and Futures Commission (SFC), the virtual asset platform Linkbex is suspected of fraud, claiming to be associated with 7 licensed companies in Hong Kong, and investors have reported that their accounts have been locked due to the "SFC's anti-money laundering investigation". The Hong Kong police have, at the request of the SFC, blocked the Linkbex-related website and placed the platform on the SFC's list of suspicious virtual asset trading platforms on March 6, 2025.
Japan's ruling party proposes to lower the crypto tax rate cap to 20% to match stock investment
According to The Block, the Liberal Democratic Party (LDP) of Japan has drafted a crypto tax reform proposal to lower the crypto tax rate from the current maximum of 55% to 20%, and reclassify crypto assets as financial products subject to the Financial Instruments and Exchange Act, similar to the tax treatment of securities investments. Currently, crypto asset gains are treated as "miscellaneous income" in Japan, with a maximum tax rate of 55%. If the proposal is approved, crypto assets may receive independent tax treatment and lay the foundation for spot crypto ETFs. The LDP is seeking public comments until March 31, after which it will be submitted to the Financial Services Agency (FSA) for review. The FSA previously announced that it will announce new crypto regulations by June at the latest.
Jito Foundation contributors propose a new JTO token economic model, including potential buybacks
Here is the English translation of the text, with the content inside <> retained without translation:According to The Block, Andrew Thurman, a contributor to the Jito Foundation, proposed a simulation model for a new JTO token economic model on Thursday, which includes a potential token buyback plan. His 12-page proposal aims to spark in-depth discussions on how to expand the utility of the Jito governance token (note that this proposal is informal and does not represent the official position of the Jito Foundation, JitoDAO, or any other related parties). Thurman pointed out that as Solana usage grows, the protocol and DAO's revenue is also increasing. He believes the community should consider how to best utilize these revenues, rather than just increasing the treasury size. While many protocols face a choice between reinvesting in ecosystem growth and distributing rewards to participants, Jito can explore a "recycle and reward" strategy. He believes that in the application and infrastructure layers, value capture (reinvesting in ecosystem growth) and value reward (redistributing or compensating ecosystem participants) are both new design spaces, and how to best achieve these two goals remains to be solved.
In terms of "value capture", Thurman sees two main options: buybacks or flipping the fee switch. Both of these aim to return value to users in a relatively direct way. While the fee switch mechanism can sometimes be controversial, it is a simple mechanism for rewarding value to token holders. Thurman mentioned some ongoing examples like GMX and Synthetix, but he believes there are not many crypto projects that have successfully redistributed value through the fee switch. In contrast, buybacks have become a popular way to reward ecosystem participants, which may be influenced by the success of buybacks in traditional markets to some extent. However, Thurman pointed out that there is currently no risk-free model or "clear successful blueprint" for rewarding the community through buybacks. To this end, he proposed two potential "new reinvestment" models: "buyback and barter" and "real yield metric". In the buyback and barter model, the Jito DAO would use a certain percentage of its earned fees to "barter" with another project's DAO in exchange for favorable terms, thereby achieving long-term cooperation. Thurman believes the benefit of this proposal is that it removes JTO from the open market and "soft locks" the tokens, avoiding an increase in the circulating supply from the Jito DAO treasury. But he also noted that the proposal carries counterparty risk.
Coinbase International to List VVV, COOKIE and BIO Perpetual Futures
Coinbase International Exchange announced that it will list perpetual futures for Venice Token (VVV), Cookie DAO (COOKIE) and Bio Protocol (BIO) on or after March 13, 2023 at 17:30 (UTC+8), available for trading on both Coinbase International Exchange and Coinbase Advanced.
Binance Launches RedStone (RED) on Wealth Management, One-Click Buy, Swap, Margin and Futures
Binance announced that starting from March 7, 2023 at 00:00 (UTC+8), it will support RedStone (RED) across multiple product lines, including Wealth Management, One-Click Buy, Swap, Margin Trading and Futures Trading. • Binance Wealth Management: The RED principal-protected active Wealth Management product will be launched on March 7, 2023 at 00:00 and open for subscription. • DCA: Starting from March 7, 2023 at 18:00, users can invest in RED through the Binance DCA platform. • One-Click Buy & Sell: Support for purchasing RED using credit/debit cards, Google Pay, Apple Pay, Revolut, or selling RED using wallet balance, expected to be available within 24 hours of the spot listing. • Swap Platform: RED is expected to be supported on the Binance Swap platform within 24 hours of the spot listing, allowing swaps for BTC, USDT and other tokens with no trading fees. • Margin Trading: Binance's cross-margin and isolated margin will open RED as a borrowable asset on March 7, 2023 at 00:20, and list RED/USDT, RED/USDC, RED/FDUSD trading pairs. • Futures Trading: Binance will list RED perpetual futures with up to 75x leverage on March 7, 2023 at 00:00.
The multi-signature wallet Safe{Wallet} released an announcement stating that its security investigation, conducted jointly with Mandiant (now part of Google Cloud), has made critical progress and confirmed that the attack incident on February 21 was carried out by the North Korean hacker group TraderTraitor (UNC4899), which has previously launched attacks on the crypto industry. The hackers gained critical access privileges by infiltrating the computers of Safe{Wallet} developers and hijacking AWS session tokens to bypass multi-factor authentication (MFA). Safe{Wallet} emphasized that although the attack incident caused some impact, the smart contracts were not compromised, the system has been fully reset, and more stringent security measures have been implemented, including: • Infrastructure reset: regenerating all credentials, resetting the cluster, updating keys and secrets, and redeploying container images. • Restricted external access: temporarily blocking external access to the transaction service, allowing only internal communication, and strengthening firewall rules. • Enhanced malicious transaction detection: collaborating with Blockaid to strengthen transaction monitoring and increase risk tagging for Safe account upgrades. • Improved real-time monitoring: enhancing logging and threat detection capabilities to respond to security incidents more quickly. • Pending transaction cleanup: clearing all pending transactions from the database to prevent potential security risks. • UI optimization and security verification tools: introducing Safe Utils as a third-party transaction verification tool, and planning to provide a fully IPFS-hosted version of Safe{Wallet}. Safe{Wallet} called on the Web3 ecosystem to jointly address the increasingly complex security threats and optimize transaction verification tools to enhance user security. The official has released detailed transaction verification guidelines and plans to further optimize the user experience to mitigate potential risks.
Binance Confirms Continued Listing of RedStone (RED), Adjusts Trading Time to 24:00
Binance announced that the previously scheduled RedStone (RED) trading, originally set to begin on March 6, 2023 at 21:00 (Beijing time), has been postponed to March 7, 2023 at 00:00 (Beijing time). This was due to the RedStone (RED) project team temporarily adjusting the community airdrop allocation plan.
RedStone Adjusts RED Airdrop Allocation, Adds 2% to Compensate Overlooked Community Members
In response to community concerns, RedStone announced adjustments to the RED airdrop selection process and allocation. RedStone decided to allocate an additional 2% of the total RED supply from the "Ecosystem and Data Providers" pool to compensate the contributors who were initially overlooked in the initial airdrop. The eligibility for the additional airdrop has been re-evaluated, and qualified users will be able to claim their share on March 7, 2023 at 00:00 (Beijing time). Additionally, RedStone plans to reallocate 4.5% of the total RED supply to support DeFi projects using the RedStone price oracle, and these projects will further distribute the tokens to their ecosystem users, within 6 months after the TGE (September 6, 2023). The current eligible projects include Euler, Gearbox, Pendle, Venus, Fraxlend, Evaa, Angle, and more. RED trading continues normally on various platforms, and RedStone stated that it will continue to optimize the community incentive mechanism going forward.
Insider: Manus Token and Manus AI Agent Product Team Have No Affiliation
According to Blue Whale News, the recent launch of the AI Agent product Manus has attracted widespread market attention. However, a token with the same name as Manus has also emerged, leading to related questions. According to a source close to the Manus AI Agent team, the Manus token and the Manus AI Agent product team have no affiliation.
World Network Launches Chat Feature World Chat, Supports "Real-Person Verification" Chatting
According to the World Network announcement, it has launched a new chat function called World Chat, which runs as a "mini-app" within the World App wallet and provides special privileges to users holding a World Network digital passport. World Chat is designed similar to iMessage, with verified users' chat bubbles displayed in blue and bearing a World ID badge, while unverified users' messages are in gray and without a badge. Users can use the chat function even without completing iris scanning. In addition, World Network announced a partnership with Alchemy, Bain Crypto Capital, Blockchain Capital, and Variant Fund to launch the World Build incubator, planning to hold hackathons, build camps, and Demo Days to promote the development of more "mini-apps". World Chat will be launched on the World App for Android and iOS today.
World Liberty Financial Reaches Strategic Reserve Cooperation with Sui
According to the Sui Foundation, the DeFi protocol World Liberty Financial (WLFI), inspired by former US President Trump, has announced a strategic partnership with Sui, aiming to promote the development of decentralized finance (DeFi). As part of the cooperation, WLFI plans to include SUI tokens in its strategic reserve to support leading Web3 projects.
Lombard Finance to Launch Its Bitcoin Liquid Staking Token LBTC on Sui Blockchain
According to CoinDesk, Lombard Finance has announced that its Bitcoin liquid staking token LBTC will be launched on the Sui blockchain on March 12, which is the first time LBTC has been integrated into a non-EVM compatible chain. Currently, LBTC has been deployed on Ethereum, Base, and BNB Chain, with a circulating volume of nearly $2 billion, 70% of which has been used in DeFi protocols such as Aave and Morpho. LBTC will be supported by Sui Wallet and Phantom Wallet, and will first be integrated into the top TVL Sui protocols such as Cetus, Navi Protocol, and SuiLend. In addition, Lombard Finance plans to launch incentive measures to encourage Bitcoin adoption in the Sui ecosystem and hinted at the possibility of expanding to more non-EVM networks in the future.
Brazilian Tech Company Méliuz Invests 10% of Cash Reserves in Bitcoin, Considering Further Increase
According to Brazil Journal, the Brazilian tech company Méliuz has invested 10% of its cash reserves in Bitcoin (BTC), becoming one of the first companies in Latin America to adopt Bitcoin as a reserve asset. The company stated that this move is part of its long-term strategy, hoping to emulate the success of companies like MicroStrategy, and is currently evaluating the possibility of further increasing its Bitcoin holdings in the future.
Bitwise's Bitcoin and Gold Blended ETP Product Listed in Europe
According to CoinDesk, asset management firm Bitwise has launched a Bitcoin and gold exchange-traded product (ETP), the Bitwise Diaman Bitcoin & Gold ETP (BTCG), which was listed on the Euronext Paris and Amsterdam exchanges on Thursday. BTCG tracks the Diaman Bitcoin and Gold Index, which dynamically reallocates assets between Bitcoin (BTC) and Gold (Gold) based on Bitcoin's risk-adjusted performance, in order to leverage the cyclical trends in the market.
Dubai Government-Owned Bank Emirates NBD Launches Crypto Trading Service Through Liv X
According to CoinDesk, the Dubai government-owned Emirates NBD bank has launched a crypto trading service through its digital bank Liv, allowing users to buy and sell cryptocurrencies on its new app Liv X. The service is supported by the digital asset platform Aquanow, which is licensed by the Dubai Virtual Assets Regulatory Authority (VARA), and the custody service is provided by Zodia, which is backed by Standard Chartered Bank.
YZi Labs Invests in Tensorplex Labs to Promote Decentralized AI Development
YZi Labs has announced an investment in Tensorplex Labs, a lab dedicated to building decentralized AI applications, infrastructure, and tools. This investment aims to accelerate the integration of AI development and decentralized technology. Tensorplex's main products are: • Tensorplex Dojo: a decentralized AI core infrastructure that integrates human intelligence training of AI and provides rewards for contributors. In the future, Dojo will facilitate real-time human-machine collaboration and create a "human API" for the AI era. • Backprop Finance: a DeFi platform in the Bittensor ecosystem that supports dTAO trading and analysis, and plans to launch EVM-based capital solutions to promote the growth of the Bittensor subnet economy.
Tether Freezes $28 Million USDT of Sanctioned Russian Exchange Garantex
According to Cointelegraph, Tether has frozen around $28 million USDT related to the Russian crypto exchange Garantex, which has been sanctioned by the EU and the US. As a result, Garantex has suspended all trading and withdrawals, and announced on its website that USDT assets in all Russian wallets are at risk. This action closely follows the EU's 16th round of sanctions against Russia on February 26, as Garantex was included in the list due to its close ties with sanctioned Russian banks. The US Treasury Department had already sanctioned it in April 2022. Garantex responded that it will continue to fight, but did not disclose any further countermeasures.
Uniswap's Cumulative Trading Volume Exceeds $2.5 Trillion
According to Token Terminal data, Uniswap's historical cumulative trading volume has exceeded $2.5 trillion. Since 2021, Uniswap's trading volume has steadily increased, further consolidating its position as a core infrastructure in the DeFi ecosystem.
