Must-Watch Next Week | FTX Begins Compensation for Claims Under $50,000; Jupiter Will Use 50% of Protocol Revenue for JUP Buybacks (2.17-2.23)

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4 days ago

Next Week's Key Focus|FTX Begins Repayment for Claims Under $50,000; Jupiter Will Use 50% of Protocol Revenue for JUP Buyback (Feb 17-23)

Next Week's Key Preview


February 17

U.S. stock market will be closed on Monday, CME futures trading will end early

Jupiter: Starting next Monday, 50% of protocol fees will be used for JUP buyback and locked for 3 years

February 18

Consensus conference will be held in Hong Kong from February 18-20

FTX creditors in the Bahamas with claims up to $50,000 will start receiving repayments on February 18

February 20

The Federal Reserve will release the minutes of the January monetary policy meeting

February 22

EigenLayer will collaborate with Eliza Labs to host an AI agent hackathon from February 22 to March 3

February 23

ETHDenver 2025 will be held in Denver from February 23 to March 2

From February 17 to February 23, more noteworthy events in the industry are as follows.

February 17

U.S. stock market will be closed on Monday, CME futures trading will end early

Odaily Planet Daily reports that due to Presidents' Day in the U.S., the stock market will be closed on February 17 (Monday), and trading for CME precious metals and U.S. crude oil futures contracts will end early at 03:30 Beijing time on the 18th, while stock index futures trading will end early at 02:00 Beijing time on the 18th. (Jin10)

Jupiter: Starting next Monday, 50% of protocol fees will be used for JUP buyback and locked for 3 years

Odaily Planet Daily reports that Jupiter announced on X that 50% of all protocol fees will be used for JUP buyback and locked for 3 years, starting next Monday.

To ensure transparency in the token buyback transactions, Jupiter announced plans to launch a related dashboard next week to disclose transaction data.

Binance will remove multiple margin trading pairs on February 17, 2025

Odaily Planet Daily reports that according to an official announcement, Binance will remove the following margin trading pairs at 06:00 (UTC) on February 17, 2025: cross-margin trading pairs: HMSTR/FDUSD, SAGA/BTC; isolated margin trading pairs: HMSTR/FDUSD, ILV/BTC, LTO/BTC, MDT/BTC, SAGA/BTC. Users must close positions in the relevant margin trading pairs and transfer assets to their spot accounts before 06:00 (UTC) on February 17, 2025. Binance will suspend the lending function for the above isolated margin trading pairs at 06:00 (UTC) on February 12, 2025. (This news was generated with AI assistance)

Musk: Grok 3 will be released next Monday at 8 PM Pacific Time

Odaily Planet Daily reports that Musk posted on X that Grok 3 will be released next Monday at 8 PM Pacific Time (12 PM Beijing time the next day) with a live demonstration. He also stated that this will be the smartest AI on Earth.

He added that he will be offline all weekend to refine the product with the team.

February 18

Consensus conference will be held in Hong Kong from February 18-20

Odaily Planet Daily reports that the 2025 Consensus conference will be held in Hong Kong from February 18 to February 20.

FTX creditors in the Bahamas with claims up to $50,000 will start receiving repayments on February 18

Odaily Planet Daily reports that according to a statement on Tuesday, FTX Digital Markets creditors in the Bahamas with claims up to $50,000 (i.e., Convenience Class creditors) will start receiving repayments on February 18.

Based on the claim value as of November 11, 2022, creditors will receive a 9% annual interest rate, marking the first repayment to creditors after years of the company's restructuring and creditor repayment proposals.

In November 2024, the FTX estate estimates that repayments for creditors with claims under $50,000 will begin in March 2025, with an expected compensation amount of approximately 118%.

The liquidator for FTX Digital Market, PwC, has stated that non-Convenience Class creditors are expected to receive repayments in the second fiscal quarter of this year, and digital asset custodian BitGo will handle these repayments for individuals, institutions, and other creditors, sending repayments in USD. (The Block)

Coinbase Derivatives plans to list Solana and Hedera futures on its derivatives trading platform as early as February 18

Odaily Planet Daily reports that Coinbase subsidiary Coinbase Derivatives submitted regulatory documents on Thursday, planning to launch new futures contracts for Solana (SOL) and Hedera (HBAR) on or after February 18. These contracts will be cash-settled and settled monthly.

BNB Chain will launch a $4.4 million first round of Meme coin liquidity support program, officially starting on February 18

Odaily Planet Daily reports that according to official news, BNB Chain will launch a Meme coin liquidity support program with a first-round support fund of up to $4.4 million, starting on February 18, 2025. The daily competition time is from 8 AM to 8 AM the next day (24 hours); the weekly competition time is from 8 AM on February 18, 2025, to 8 AM on February 24, 2025.

February 19

None

February 20

The Federal Reserve will release the minutes of the January monetary policy meeting

Odaily Planet Daily reports that at 03:00 Beijing time on February 20 (Thursday), the Federal Reserve will release the minutes of the January monetary policy meeting, providing further clues about interest rate cuts to the market.

Morph's points activity will last until February 20, 2025

Odaily Planet Daily reports that the points activity for the consumer-grade public chain Morph will last until February 20, 2025, with 10% of tokens used for community airdrops and ecological activity growth, totaling 1.6 million points. The activity will last until February 20, 2025. Users can earn points through cross-chain asset transfers, paying gas fees, and inviting new users.

February 21

BNBChain TVL incentive program phase five will end on February 21

Odaily Planet Daily reports that the fifth phase of the BNBChain TVL incentive program will end on February 21, and the BNBChain Foundation will provide up to 5% of the new TVL (calculated only for Staked BNB) to the top five staking or re-staking protocols as staking support for winning ecological projects, with each protocol eligible for up to 20,000 BNB in staking support from the BNBChain Foundation. The total staking support cap for the entire event is 50,000 BNB. The staking support lock-up period is 1 to 3 months, and the earnings from the staking support during the event will be returned to community users in the form of market activities or airdrops.

February 22

EigenLayer will collaborate with Eliza Labs to host an AI agent hackathon from February 22 to March 3

Odaily Planet Daily reports that EigenLayer will collaborate with Eliza Labs to host an AI agent hackathon from February 22 to March 3, located in downtown Denver.

February 23

ETHDenver 2025 will be held in Denver from February 23 to March 2

Odaily Planet Daily reports that ETHDenver 2025 will be held in Denver, USA, from February 23 to March 2, 2025.

Others (specific time not yet determined)

zkLend: The hacker did not respond before the deadline, and the fund recovery and release plan will be announced next week

Odaily Planet Daily reports that zkLend officials stated that since the hacker did not contact the project team before the deadline, the zkLend team has submitted an incident report to the Hong Kong police, FBI, and Department of Homeland Security and initiated an investigation.

The investigation shows that the hacker is related to attacks on other DeFi protocols that occurred previously. The project team has monitored the flow of funds and identified multiple related wallet addresses, and this information has been submitted to centralized exchanges. zkLend will announce the fund recovery and release plan next week, while the security team is preparing a post-incident analysis report.

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