Headlines
▌1inch Largely Recovers Funds After Hack, Reaches Bug Bounty Agreement
According to a post-incident report by Decurity, 1inch has returned most of the $5 million stolen by the hacker after negotiations, with the hacker retaining a portion as a bug bounty. The attack stemmed from a vulnerability in the Fusion v1 smart contract, primarily affecting users of the outdated parser, while regular user funds were unaffected. As previously reported by Odaily, 1inch discovered the Fusion v1 smart contract vulnerability on March 5, which the hacker exploited to steal funds. 1inch has called for immediate audits and contract updates of the relevant parsers to prevent similar incidents.
▌David Sacks: US Government's Crypto Holdings to Be Audited
Crypto czar David Sacks stated that the US government's crypto holdings will be audited "to find out what digital assets we actually own".
Market
As of press time, according to Coingecko data:
BTC last traded at $86,201.61, up +0.7% on the day;
ETH last traded at $2,198.16, up +3.5% on the day;
BNB last traded at $590.77, down -0.2% on the day;
SOL last traded at $137.78, down -0.4% on the day;
DOGE last traded at $0.1926, down -2.0% on the day;
XPR last traded at $2.34, down -0.8% on the day.
Policy
▌Texas Creates Bitcoin Endowment Fund, First State-Owned Crypto Fund in US History
The Texas Senate has passed SB 21, creating the Texas Bitcoin Endowment Fund - the first state-owned crypto fund in US history. Lt. Governor Dan Patrick called it a major step forward, aligning with President Trump's vision of making America the global leader in cryptocurrencies. Texas is leading this effort. The endowment will hold BTC and other top cryptocurrencies with a market cap threshold of over $500 billion. A new advisory council will oversee its development. This is not just a state initiative - it is the emerging national crypto policy.
▌MichaelSaylor Shares "$100 Trillion" Crypto Strategy at White House Summit
Saylor stated that by establishing a clear digital asset regulatory framework, the US can unlock up to $100 trillion in economic value over the next decade. He categorized digital assets into four types: digital tokens, digital securities, digital currencies, and digital commodities, with Bitcoin falling into the latter. Saylor suggested that by 2035, the US should hold 5%-25% of the total BTC supply, potentially generating $16-$81 trillion in revenue by 2045.
▌Nexo Partners with Sphere to Transform Cross-Border Payments in Latin America
Digital asset platform Nexo has announced a strategic partnership with scalable blockchain solutions provider Sphere to drive the development of cross-border payments in Latin America. The collaboration aims to provide fast, low-cost, and compliant solutions. According to Cointelegraph, the partnership is intended to facilitate more seamless international business payments.
▌US and European Authorities Seize Garantex Domain, Freeze $26 Million in Assets
US and European authorities have seized the Garantex domain and frozen $26 million in assets, accusing the Russia-linked cryptocurrency exchange of laundering billions of dollars for cybercriminals and sanctioned entities. Two executives, Aleksej Besciokov and Aleksandr Mira Serda, were charged with a money laundering conspiracy, with Besciokov facing additional sanctions violations. Garantex is alleged to have processed $96 billion in crypto transactions, including ransomware and dark web drug sales.
Blockchain Applications
▌Brazil Post Seeks Blockchain and AI Solutions
Brazil's state-owned postal service Empresa Brasileira de Correios e Telégrafos has launched a pre-selection process to recruit companies and experts in Blockchain and Artificial Intelligence (AI) to develop solutions for its logistics and operations management. The company announced: "We want to promote a collaborative and dynamic process to find AI and Blockchain solutions for our business, operational and hiring challenges."
Cryptocurrencies
▌Address with Largest Cocoro Losses Cashed Out 2 Hours Ago, Losing $317,000
According to monitoring by EmberCN, the new pet of the Doge prototype Shiba Inu owner, the Cocoro Meme coin Cocoro, completed a price cycle in 12 hours. An address bought Cocoro at the peak last night and cashed out 2 hours ago, becoming the largest loser on Cocoro. The whale spent $534,000 to buy 6.4 million Cocoro at an average price of $0.0836 last night, and cashed out at $0.0338, losing $317,000 (-59%).
▌El Salvador Has Purchased Over 13 Bitcoin Since March 1
Despite pressure from the International Monetary Fund (IMF) on the country's public sector to stop accumulating this decentralized store of value, El Salvador has purchased over 13 Bitcoin since March 1. According to the El Salvador Bitcoin Office, the country's Bitcoin treasury now holds over 6,105 BTC, worth over $527 million at current prices.
▌Bitcoin Hash Price Drops from $56.73 Last Month to $49.81/PH/s
According to Bitcoin.com News, the Bitcoin hash rate has taken a beating. - Hash price dropped from $56.73 last month to $49.81/PH/s - Miners earned $124 million in February, but March is not looking good - Difficulty is set to increase by around 1.29% on March 9 Unless BTC price or fees rise, the future will be very challenging!
▌ECB Plans to Establish CBDC by October 2025
The European Central Bank plans to establish a CBDC by October 2025.
Key Economic Dynamics
▌Mark Cuban: Federal Spending Cuts Could Trigger Economic Downturn
Mark Cuban recently expressed concerns about the US economic outlook, warning that significant federal spending cuts could trigger a chain reaction leading to a recession.
▌Analyst: Trump's Government Downsizing Plan May Impact Tourism, Cause Economic Ripple Effects
Melius Research analysts in a report noted that the Trump administration's push to downsize the government could have negative impacts on the tourism industry and the broader US economy. United Airlines recently stated that its government business has weakened since the November US presidential election. However, analysts also pointed out that airlines' reliance on government business is relatively small, accounting for less than 2% of United's revenue and around 1% for Delta. "The question is whether the weakness in government business spills over into other parts of the economy, and that's harder to judge, but clearly there's growing concern about how that impact might be contained," the analysts wrote.
▌White House: US to Become World Bitcoin Superpower, Golden Age Has Begun
The official White House X account posted, "The United States will become the world's Bitcoin superpower. America's golden age has begun!" [Original link]farcaster comments
Jinse Encyclopedia
DeFAI is the combination of the decentralized finance (DeFi) ecosystem and AI-driven analysis and automation. DeFAI is still in its early stage, mainly focusing on momentum trading similar to memecoins, so there is still a lot of room for rapid development. DeFAI represents a turning point in the Crypto asset industry.
Disclaimer: Jinse Finance, as a blockchain information platform, the content of the articles published is for information reference only and not as actual investment advice. Please everyone establish the correct investment concept and must improve risk awareness.
