Organizer: Luan Peng, ChainCatcher
"What Important Events Happened This Week (2.10-2.16)"
Jupiter co-founder meow commented on the issuance of CAR tokens, stating, "We need to launch major tokens in a better way; the current 'fog of war' state is extremely detrimental to the development of the entire industry."
Meow added that they have contacted the government office of the Central African Republic (CAR) to further confirm the authenticity of the CAR tokens and will provide real-time updates on relevant information.
Meow emphasized that the team has temporarily verified the CAR tokens to prevent users from purchasing the wrong tokens, but there are still many unknown factors, including the source of the tokens and lock-up conditions, reminding investors to be aware of the risks.
2. Federal Reserve Chairman Powell: Supports Establishing a Regulatory Framework for Stablecoins
According to Jinshi, Federal Reserve Chairman Powell stated that he supports establishing a regulatory framework for stablecoins.
3. U.S. SEC Has Accepted Applications for Solana Spot ETFs from 21Shares, Bitwise, Canary, and VanEck
Multiple institutions have submitted applications for Solana spot exchange-traded funds (ETFs) to the U.S. Securities and Exchange Commission (SEC), which has confirmed receipt and acceptance of the relevant documents.
Cboe BZX Exchange submitted a proposed rule change form to support the listing and trading of Solana spot ETFs issued by 21Shares, Bitwise, Canary Capital, and VanEck. Previously, these companies' Solana ETF applications had been rejected.
Bloomberg ETF analysts James Seyffart and Eric Balchunas stated on Monday that they believe there is a 70% chance the SEC will approve the Solana ETF. Franklin Templeton also seems ready to join the competition for Solana ETFs, as the company submitted documents in Delaware on Tuesday to register the Franklin Solana Trust.
According to an official announcement from WLFI, World Liberty Financial (WLFI) has launched the Macro Strategy strategic reserve fund aimed at supporting leading crypto assets like Bitcoin and Ethereum and enhancing market stability. This strategy will be used to diversify investments, reduce market volatility, promote the development of the DeFi ecosystem, and strengthen community trust.
WLFI is establishing strategic partnerships with traditional financial institutions to promote the inclusion of tokenized assets in reserves and enhance transparency through public blockchain wallets. Additionally, WLFI plans to conduct joint marketing and brand promotion to expand the influence of partner institutions. A complete proposal will be released in the governance forum, where community members can participate in discussions and provide feedback.
5. Jiangsu High Court: Overseas Virtual Currency Investments Are Not Protected by Chinese Law
According to the Jiangsu High Court's official account, the Jiangsu High Court released typical cases involving foreign commercial trials, stating that overseas virtual currency investments are not protected by Chinese law. In the relevant case, Singapore citizen Pan and Chinese citizen Tian signed a cooperation agreement to jointly operate the "MFA Blockchain" project, with Pan transferring 15.74 million yuan to Tian for the purchase of MFA virtual currency. However, the virtual account involved was subsequently locked, resulting in the total loss of the principal, leading Pan to file a lawsuit.
The Jiangsu High Court's second-instance ruling stated that Pan, as a Singapore citizen, involved foreign factors in this case. According to China's law application principles, matters related to China's financial security and social public interests should directly apply the mandatory provisions of Chinese laws and regulations, which prohibit virtual currency investments. The parties' contract to speculate on overseas virtual currencies violated the mandatory provisions of China's financial regulatory field, and the investment losses claimed by the parties are not protected by law, with the resulting losses borne by the parties themselves.
6. Federal Reserve Chairman Powell: Many Cryptocurrency-Related Activities Can Be Conducted at Banks
Federal Reserve Chairman Powell stated that many cryptocurrency-related activities can be conducted at banks. (Jinshi)
7. Binance Alpha Adds ONDO, MORPHO, AERO, VIRTUAL
According to the official page, Binance Alpha has added ONDO, MORPHO, AERO, and VIRTUAL.
8. Ethereum Foundation: Future Treasury Funds Will Explore More Possibilities Such as ETH Staking
The Ethereum Foundation officially stated that it has deployed 10,000 ETH to Spark, 10,000 ETH to Aave Prime, 20,800 ETH to Aave Core, and 4,200 ETH to Compound. More content is expected in the future, including exploring staking.
9. Stablecoin Company Plasma Completes $24 Million Financing, Led by Framework Ventures
According to Fortune, stablecoin company Plasma has completed $24 million in financing, led by Framework Ventures, with participation from cryptocurrency exchange Bitfinex, renowned 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 stated that the project is developed based on the Bitcoin blockchain, utilizing a unique consensus mechanism focused on optimizing stablecoin trading 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 a native UTXO foundation, allowing gas fees to be paid with BTC and seamlessly collaborating with existing Bitcoin infrastructure. By leveraging a hybrid UTXO/account architecture, users can unlock new features for holding, staking, and deploying their Bitcoin.
10. Zhao Changpeng Shares Photos of His Pet Dog Broccoli and Their Story
Binance founder Zhao Changpeng (CZ) shared photos of his pet dog Broccoli and their story on X.
Zhao Changpeng stated that he will not personally issue meme coins but may interact with some popular meme coins on the BNB Chain (BSC). The BNB Foundation may provide rewards for top memes on the BNB Chain.
11. Zhao Changpeng: Will Not Personally Issue Meme Coins; It Depends on the Community
Binance founder Zhao Changpeng (CZ) stated on the X platform: "I just posted a photo and the name of my dog. I will not personally issue meme coins. It depends on whether the community does so. I may interact with some popular meme coins on the BNB Chain (BSC). The BNB Foundation may provide rewards for top memes on the BNB Chain, offering LP support or other rewards. Details are still under discussion. More content will be released soon."
12. U.S. SEC Has Confirmed Acceptance of DOGE ETF Application
The U.S. Securities and Exchange Commission (SEC) has confirmed acceptance of the 19b-4 application submitted by Grayscale and the New York Stock Exchange to establish a DOGE ETF.
13. Musk Changes X Profile to "Volunteer Tech Support"
Musk changed his profile description to "Volunteer Tech Support."
According to an official announcement, starting February 14, 2025, Binance will update the method of providing token information to include token unlocking plans in information related to market capitalization and circulating supply.
The new method will collaborate with listed projects to provide necessary details about their token unlocking plans. The new method incorporates unlocked tokens into market capitalization calculations. Unlocked tokens will have their unlocking plans available for viewing.
With this update, users can now view the token unlocking plans and their details for each project through links provided in the project overview section on the Binance website and Binance app.
- Market Capitalization: Calculated by multiplying circulating supply by the current price. This includes unlocked tokens. If data on unlocked tokens is unavailable, non-publicly accessible tokens will be excluded.
- Circulating Supply: Tokens available for trading will include unlocked tokens. If data on unlocked tokens is unavailable, non-publicly accessible tokens will be excluded.
15. BNBChain Ecosystem Development Head Li Wei Resigned This Week
According to Wu Shuo, BNBChain's ecosystem development head, Li Wei, has left BNBChain this week. Li joined BNBChain in August 2024 and left OKX in July 2024.
16. Binance Launches BNSOL Super Stake Phase Six Project Pepe (PEPE)
Binance announced a collaboration with Pepe (PEPE) to launch the BNSOL Super Stake Phase Six project. From February 17, 2025, 08:00 to March 17, 2025, 07:59, users holding BNSOL in their Binance accounts and Binance wallets, or staking SOL to BNSOL, will receive PEPE APR Boost airdrop rewards.
The PEPE APR Boost airdrop rewards will be available for collection daily starting from February 18, 2025, around 13:30 (UTC+8).
17. Zhao Changpeng: Cannot Tweet Anymore, Tweets Are Always Over-Interpreted
Zhao Changpeng posted on the X platform: "I can’t tweet anymore; people always over-interpret my tweets, and anything I casually mention gets attached with some extra meaning."
18. Vitalik: L1 Gas Limit Needs to Be Increased Even in L2-Dominated Ethereum
Ethereum co-founder Vitalik Buterin published a new article titled "Reasons to Increase L1 Gas Limits Even in L2-Dominated Ethereum." The article states that an important recent discussion in Ethereum's roadmap is about how to increase the L1 gas limit.
Recently, the L1 gas limit was increased from 30 million to 36 million, a 20% increase in capacity. Many support a further significant increase in the near future. These increases are considered safe due to recent and upcoming technological improvements: enhanced efficiency of Ethereum clients, reduced need for storing old history due to EIP-4444 (see roadmap), and future stateless clients.
However, before we go down this path, it is important to ask a question: In the context of a Rollup-centric roadmap, is it the right approach to increase the L1 gas limit in the long term? We do not want to face the centralization risks brought by high L1 usage without truly determining that we will benefit from it.
According to the Argentine presidential office report: "On October 19, 2024, President Javier Milei met with representatives of KIP Protocol in Argentina. During this meeting, the company representatives introduced their intention to develop a project named 'Viva la Libertad' (Long Live Freedom), which aims to use blockchain technology to provide financing for private enterprises in Argentina.
This meeting has been officially recorded in the public hearing registry, with participants including the national president, KIP Protocol representatives Mauricio Novelli and Julian Peh, and presidential spokesperson Manuel Adorni.
In this context, on January 30, 2025, the president met with Hayden Mark Davis at the Casa Rosada. According to the introduction from KIP Protocol representatives, Mr. Davis will provide the technical infrastructure for the project. Mr. Davis has had no prior association with the Argentine government and has not established any relationship; he was introduced as a project partner by KIP Protocol representatives.
Finally, yesterday, the president posted a message on his personal social media account announcing the launch of the KIP Protocol project, similar to his usual support for many entrepreneurs hoping to launch projects in Argentina to create jobs and attract investment. Due to the widespread attention the project launch received, to avoid any speculation and reduce further dissemination, the president decided to delete this post.
In light of the above, President Javier Milei has decided to immediately transfer this matter to the Anti-Corruption Office (OA) to determine whether there has been any misconduct by any members of the national government, including the president himself, in this incident.
Additionally, the national president has decided to establish an investigative task force (UTI) under the presidential office, composed of representatives from institutions and departments related to crypto assets, financial activities, money laundering, etc., to consolidate relevant information for an urgent investigation into the issuance of the cryptocurrency LIBRA and all related enterprises or individuals.
All information collected during the investigation will be handed over to the judicial department to determine whether any enterprises or individuals related to the KIP Protocol project are suspected of criminal activity.
President Milei has demonstrated his pursuit of truth through practical actions and has committed to thoroughly investigating this incident until the truth is revealed."
According to Bitcoin.com, Brazil's new central bank president Gabriel Galipolo stated that over 90% of cryptocurrency usage in the country involves stablecoin transactions. The central bank's analysis found that stablecoins are primarily used for cross-border payments and pose risks of tax evasion and money laundering.
Galipolo pointed out that the central bank initially believed the popularity of stablecoins was due to their convenience for the public to hold dollars. However, after further research, it was found that a large number of stablecoin transactions are related to cross-border shopping, and the transaction methods are opaque, potentially being used for tax evasion or money laundering activities. He also criticized some citizens' pursuit of privacy, believing it is often associated with illegal activities.
Galipolo revealed that the Brazilian central bank proposed new regulations last December, intending to link stablecoin regulation with foreign currency regulation, which may ban individuals from holding stablecoins. If this regulation is ultimately passed, it will restrict Brazilian users from participating in decentralized finance (DeFi) activities, as most DeFi platforms require users to manage their funds independently.
"What Exciting Articles Are Worth Reading This Week (2.10-2.16)"
1. 2025 Crypto Outlook—What Major Investment Institutions Have to Say (Part II)
As the new year begins, the global investment environment continues to change, with various emerging technologies and market trends constantly emerging. In this context, how investors formulate long-term strategies and assess and select investment projects has become a widely discussed topic within and outside the crypto industry.
In response, RootData, in collaboration with ChainCatcher, hosted this interview. In the previous issue, we invited investment institutions including OKX Ventures and Bixin Ventures to provide constructive responses. This issue features invited investment institutions such as IOSG Ventures, Bing Ventures, and Waterdrip Capital, which engage in in-depth discussions on investment trends and recommendations for 2025.
While the crypto community is in despair, many "Qing Dynasty remnants" born in the last two cycles are announcing token launches one after another.
Last night, OpenSea announced it would launch the $SEA token, followed by Doodles announcing it would launch the $DOOD token on Solana. This follows the trend of other NFT leaders like Fat Penguins and Azuki getting involved in the token issuance frenzy.
Not only in the NFT sector, but privacy projects that were also popular in the last cycle but have nearly disappeared in 2024 seem to be seeking survival through token issuance. Last night, the Ethereum privacy layer Aztec Network, which has been collectively backed by investment giants like a16z and Paradigm, also established a foundation, possibly preparing for an upcoming TGE.
3. Airdrop Conditions Are Harsh, Secondary Valuation Is Inverted; Does Story Protocol Still Have Hope?
As a crypto project that a16z has led in three consecutive rounds of investment and was once valued at $2.25 billion, Story Protocol's recent performance has shocked community users.
On February 13, Story Protocol finally revealed the details of its highly anticipated airdrop plan; however, contrary to the expected generous rewards, this airdrop plan has sparked considerable controversy and dissatisfaction. Many studios and investors have expressed that the conditions for this airdrop are too harsh, with three barriers just for witches, and the amount of airdropped tokens is far below expectations, leading to a "reverse harvest."
To make matters worse, on the same day, the Story Protocol token (IP) officially launched its TGE and was immediately listed on exchanges like CoinBase, Bithumb, and MEXC. After going live, the token's market performance was also shocking, with the price dropping from an opening of $2.3 to a low of $1.7, resulting in an inverted valuation between the secondary market and financing valuation.
This series of events has undoubtedly dealt a heavy blow to Story Protocol's community users. Many users have expressed their disappointment with the project's performance in the airdrop plan and TGE, questioning the project's long-term development prospects, and some users have publicly sought to protect their rights in the official Story Protocol community.
4. CZ's Pet Dog Sparks Meme Annual Farce, Ending in a Chorus of Criticism
In the early hours of Beijing time, after repeatedly teasing the audience, Zhao Changpeng finally released a photo of his pet dog Broccoli and the story behind it. The highly anticipated P young players and orchestrators were already poised for action; however, including Zhao Changpeng and BNBChain, they did not expect that a small picture of a pet dog would trigger a large-scale meme brawl and a "slaughter" of retail investors.
Recently, influenced by macro policies, the cryptocurrency market has generally continued to fluctuate and show a downward trend. As the meme craze gradually recedes, many meme-related coins have also cooled down. However, the meme coin TST on BNB Chain unexpectedly experienced explosive growth, attracting widespread attention.
From being obscure to a market capitalization soaring to hundreds of millions of dollars, TST's rise not only caught the market's eye but also sparked intense discussions about Binance's listing logic.
This article will review the ins and outs of the TST incident, exploring the market logic and controversies behind it. From the initial test token to its listing on Binance's spot trading, every step of TST has been dramatic. Under Binance's "lightning listing" operation, TST's market cap skyrocketed from $500,000 to $500 million, an increase of over 100 times. However, the subsequent crash after its launch caused significant losses for many investors, raising questions about Binance's listing process.
Next, we will analyze TST's birth, explosion, and controversies step by step.
6. Behind KOL Competition: Is the Kaito Yap Model Really Sustainable?
Have you noticed that many KOLs have started to Yap while scrolling through X these days? What are they all Yapping about?
Yaps is a points system launched by Kaito, an AI-driven crypto data analysis and social incentive platform, where X users can earn Yap points by posting high-quality crypto content (tweets, interactions). Recently, Berachain airdropped to Yappers, and today Kaito announced that it would open ANIME token claims to the first 1,000 ANIME (Anime token under Azuki) Yappers and Kaito Genesis NFT holders. Coupled with collaborations with multiple projects like Story Protocol, Movement Labs, and MegaETH, the expectation that "projects on Yap Kaito can receive airdrops" has once again heightened Kaito's popularity.
Similar to the trajectory of previous Web3 social flywheels, KOLs and already influential figures thrive in the Yaps points system, eagerly producing articles on X and forming matrices with other ICT (Inner Crypto Twitter) members. The benefit is that discussions about crypto and outputs of popular projects have increased, but foreseeable downsides are also gradually emerging, such as the proliferation of low-quality content, excessive interactions causing harassment for KOLs, and deeper issues like influence monopolization. Kaito has recently announced the upcoming launch of shadow bans to improve the current chaos through technical means. However, controversies and doubts continue.
In 2024, fundamental analysis faces a complete collapse in the crypto field, and the current market increasingly confirms the saying "Attention in crypto is everything." If memes are a result of the attention economy, then Kaito is more like an upstream business of the attention economy, focusing on how to manage and allocate attention. But the essence of the attention economy is that the next is always better. As a product of this era, can Kaito itself overcome short-term behaviors and become a sustainable, practically useful product?
This article will provide a detailed analysis of Kaito. Due to the existence of Yap, there are currently many (inflated) articles about Kaito on X, but I still recommend you read this article.
EdgeX has received support from two well-known Web3 capital firms and is expected to announce specific financing details in Q2 or Q3.
8. Arthur Hayes: The Future of Political Memecoins
Over the past century, with advancements in communication technology, the essential skills politicians use to attract the public have also changed. To illustrate my point, I would like to quickly review the history of U.S. presidents, focusing on key advancements in communication technology.
9. BSC Series Dominates Growth Rankings; Can CZ's Energy Propel the BNBChain Ecosystem to New Heights?
As the founder and largest shareholder of Binance, CZ's every word and action can influence market sentiment and trends. Recently, CZ has been continuously promoting BNB Chain on Twitter, emphasizing the technical advantages and ecological potential of BNB Chain while outlining a development blueprint for 2025, which has attracted widespread market attention. Under CZ's push, BNB Chain's ecosystem tokens have experienced a broad rally, reaching new highs for the year.
Every statement from CZ acts like a "deep-water bomb," creating ripples in the crypto market. From the bold claim that "BNB Chain has been shackled for too long, it's time to break free" to a shift in attitude towards meme coins, CZ's return undoubtedly injects a strong dose of confidence into BNB Chain. However, whether this ecological boom triggered by the "CZ effect" is a fleeting moment or the starting point for BNB Chain's return to its peak remains to be seen.
10. Two Major Regulatory Agency Heads Are All "Insiders"; Is a New Era of Crypto Regulation Beginning?
Since Trump officially took office in the White House, favorable policies have emerged frequently. Recently, Trump nominated former Bitfury Chief Legal Officer Jonathan Gould to head the Office of the Comptroller of the Currency (OCC), responsible for regulating the national banking system. This nomination was submitted to the Senate on February 11, with a five-year term.
Additionally, he nominated a16z policy head Brian Quintenz as the chairman of the Commodity Futures Trading Commission.
The influence of the OCC cannot be underestimated, as it is one of the most influential banking regulatory agencies in the United States. The banks regulated by the OCC control a significant portion of the U.S. banking industry's assets, including major banks like Citibank, JPMorgan Chase, and Bank of America. Given the core position of the U.S. banking system in the global financial market, OCC policies will impact international interbank transactions, the U.S. dollar clearing system, and global financial stability. In recent years, the OCC has allowed national banks to provide crypto custody services and explored the integration of stablecoins with the banking system, which has profound implications for the compliant development of the crypto industry.
Kristin Smith, CEO of the crypto industry advocacy group Blockchain Association, stated that Gould is an excellent choice to lead the OCC, as his experience in the crypto industry enables him to effectively lead the agency. Avichal Garg, co-founder of Electric Capital, also noted that Gould's nomination is a very positive development for fintech and cryptocurrency founders seeking better financial services.
So who exactly is Gould to receive such high praise?
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