Weekly Preview | FTX Begins Debt Repayment; Consensus Hong Kong to Open on February 18

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4 days ago

News Preview:

  • FTX will start repaying creditors on February 18, 2025;
  • Consensus Hong Kong will be held from February 18 to 20, 2025;
  • Germany will elect a new parliament on February 23, with a party hoping to exit the Eurozone and relax Bitcoin regulations;
  • Murasaki (MURA) will unlock approximately 20 million tokens at 8:00 AM Beijing time on February 23, accounting for 2.00% of the current circulation, valued at approximately $85.4 million;
  • Melania Meme (MELANIA) will unlock approximately 61.25 million tokens at 8:00 AM Beijing time on February 20, accounting for 40.83% of the current circulation, valued at approximately $81.5 million;
  • Fasttoken (FTN) will unlock approximately 20 million tokens at 8:00 AM Beijing time on February 18, accounting for 4.66% of the current circulation, valued at approximately $78.6 million.

February 17

Exchanges:

Russian broker Finam will issue notes linked to BlackRock's Bitcoin ETF on February 17

Russian retail brokerage Finam will launch investment products linked to BlackRock's iShares Bitcoin Trust ETF (IBIT) on February 17, providing Russian qualified investors with their first opportunity to access a spot Bitcoin ETF. The IBIT bonds to be issued by Finam will be denominated in Russian rubles, with yields calculated in US dollar equivalents based on the Russian central bank's exchange rate. If the price of the Bitcoin ETF at maturity is at least one basis point higher than the price at product launch, investors will receive up to a 20% dollar yield. The minimum investment amount is 200,000 rubles, approximately $2,200 at the time of writing. The brokerage commission is 1% (calculated in rubles). Additionally, Finam plans to launch more similar products linked to Ethereum spot ETFs.

Binance will remove leveraged trading pairs HMSTR/FDUSD, SAGA/BTC, etc. on February 17

Binance will remove the following leveraged trading pairs at 14:00 (UTC+8) on February 17, 2025:

  • Cross-margin leverage: HMSTR/FDUSD, SAGA/BTC

  • Isolated margin leverage: 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 phase of the BNSOL Super Staking event in collaboration with its token partner Pepe (PEPE). During the event, users holding BNSOL or staking SOL as BNSOL from 08:00 on February 17, 2025, to 07:59 on March 17, 2025 (Beijing time) will receive PEPE APR Boost reward airdrops, which are additional earnings on top of the base APR for BNSOL staking.

Policy and Regulation:

The Hong Kong Securities and Futures Commission will hold two cybersecurity webinars on February 17 and 19, inviting virtual asset service providers

The Hong Kong Securities and Futures Commission has issued a circular regarding cybersecurity webinars to licensed corporations, licensed virtual asset service providers, and related entities. It is reported that the Hong Kong Securities and Futures Commission will hold two cybersecurity webinars on February 17 and 19, 2025, to raise awareness of emerging cybersecurity threats in Hong Kong.

Token Unlocking:

ApeCoin (APE) will unlock approximately 15.6 million tokens at 8:30 PM Beijing time on February 17, accounting for 2.16% of the current circulation, valued at approximately $11.4 million.

Echelon Prime (PRIME) will unlock approximately 750,000 tokens at 8:00 AM Beijing time on February 17, accounting for 1.37% of the current circulation, valued at approximately $5 million.

February 18

Exchanges:

FTX will start repaying creditors on February 18, 2025

FTX creditor representative Sunil disclosed on X that FTX plans to begin debt repayments at 10:00 AM Eastern Time on February 18, 2025. This repayment will prioritize creditors with claims of less than $50,000. It is reported that the repayment amount will include 100% of the adjudicated claim amount (capped at $50,000) and will provide an additional 9.0% annual interest as compensation from November 11, 2022, to the initial distribution date.

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

Coinbase Derivatives, 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 February 18, 2025, or later.

Contract details:

• Solana futures will be cash-settled and margin traded, settled monthly.

• Hedera futures are also expected to launch simultaneously, further enriching Coinbase's derivatives trading offerings.

Project Updates:

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

Starting February 18, BNB Chain will launch a $4.4 million Memecoin liquidity support program. BNB Chain will focus daily and weekly on leading Memecoins and inject BNB liquidity directly from the BNB Chain Foundation's wallet into the liquidity pools of winning projects. BNB Chain will provide 50% BNB + 50% Memecoin (purchased from the market) and add it to the most active liquidity pools of that Memecoin. This liquidity will remain permanently in the pool and will not be withdrawn. Winning criteria:

  • Market capitalization: must reach $1M or above
  • Active holding addresses: no less than 1,000
  • Token supply contribution: the project must add 10% of the total supply to the liquidity pool
  • Holding distribution: the top 10 externally owned accounts (EOA) must hold no more than 10% of the total supply. These holders are encouraged to manage their assets through locking or linear release.
  • Security measures: the project must verify its token source code on BscScan or pass a security audit.

Community Events:

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

Token Unlocking:

Fasttoken (FTN) will unlock approximately 20 million tokens at 8:00 AM Beijing time on February 18, accounting for 4.66% of the current circulation, valued at approximately $78.6 million.

QuantixAI (QAI) will unlock approximately 565,700 tokens at 8:00 AM Beijing time on February 18, accounting for 10.88% of the current circulation, valued at approximately $48.2 million.

February 19

Token Unlocking:

Pixels (PIXEL) will unlock approximately 9.118 million tokens at 6:00 PM Beijing time on February 19, accounting for 11.83% of the current circulation, valued at approximately $6.3 million.

February 20

Macroeconomics:

The Federal Reserve will release the minutes of the January monetary policy meeting on February 20.

Exchanges:

Coinbase International will launch Spx6900 and Kaspa perpetual contracts on February 20

According to the announcement from Coinbase International Exchange, the platform and Coinbase Advanced will support Spx6900 and Kaspa perpetual contracts, with the SPX-PERP and KAS-PERP markets opening for trading at or after 5:30 PM Beijing time on February 20, 2025.

Project Updates:

The second phase airdrop of $DIN will start on February 20

The second phase airdrop of the first AI Agent blockchain DIN will start at 4:00 PM Beijing time on February 20. Additionally, the $DIN staking feature has been launched, allowing holders to earn more $DIN through staking.

The TON Foundation launches the "TON Mini Program Migration Grant Program," with applications closing on February 20

The official TON account on X stated that starting February 21, Telegram will implement new regulations for blockchain mini programs, as the TON blockchain has become the exclusive blockchain infrastructure for the Telegram mini program ecosystem. To ensure a smooth transition, the TON Foundation has launched the "TON Mini Program Migration Grant Program," a dedicated initiative to assist mini programs in migrating from other chains to the TON blockchain. Developers and builders will receive the following support: 1. Eligible projects can receive $50,000 in advertising credits; 2. Seamless migration through TON Connect; 3. Increased visibility through the Telegram user base; 4. Assurance of successful technical and marketing support. Applications will close on February 20.

Token Unlocking:

Melania Meme (MELANIA) will unlock approximately 61.25 million tokens at 8:00 AM Beijing time on February 20, accounting for 40.83% of the current circulation, valued at approximately $81.5 million.

February 21

Token Unlocking:

Metars Genesis (MRS) will unlock approximately 10 million tokens at 8:00 AM Beijing time on February 21, accounting for 11.87% of the current circulation, valued at approximately $29.2 million.

Immutable (IMX) will unlock approximately 24.52 million tokens at 8:00 AM Beijing time on February 21, accounting for 1.41% of the current circulation, valued at approximately $20.1 million.

February 22

Project Updates:

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

The Ethereum restaking protocol EigenLayer has announced a collaboration with Eliza Labs to host an AI Agent Hackathon in downtown Denver from February 22 to March 3, 2025.

Token Unlocking:

SPACE ID (ID) will unlock approximately 18.49 million tokens at 8:00 AM Beijing time on February 22, accounting for 4.29% of the current circulation, valued at approximately $5.9 million.

February 23

Policy and Regulation:

Germany will elect a new parliament on February 23, with the Alternative for Germany party hoping to exit the Eurozone and relax Bitcoin regulations

Germany will elect a new parliament on February 23, which could have far-reaching implications for the financial sector of Europe's largest economy. The far-right Alternative for Germany party ranks second in polls, but mainstream German parties refuse to cooperate with it in any government, meaning its proposals may never be realized. Nevertheless, their financial policy plans are the most specific and radical. The Alternative for Germany party calls for Germany to exit the Eurozone, supports "broad deregulation" of Bitcoin, wallets, and trading, and opposes the digital euro, among other things.

Project Updates:

The Ethereum Foundation opens proposal applications for the Pectra Proactive Grant Round, closing on February 23

The Ethereum Foundation has announced a $200,000 grant to support the Pectra upgrade ecosystem and has opened proposal applications for the Pectra Proactive Grant Round, with applications closing on February 23. It is reported that submitted proposals should align with one or more of the following key focus areas:

  1. Core Protocol Support: Develop tools and libraries that directly support protocol-level changes introduced in Pectra, creating infrastructure to ensure seamless integration of Pectra-related updates into the core protocol;
  2. Tools and Infrastructure: Updates to essential tools for builders, stakeholders, and end-users, creating new tools to support EIPs directly related to Pectra;
  3. Testing and Security: Enhancements to testing frameworks and infrastructure, tools to improve network security before and after the Pectra upgrade;
  4. Adoption and Impact Analysis: Projects that track and analyze the adoption of changes introduced by Pectra, tools or frameworks to measure the impact of Pectra-related EIPs on the Ethereum ecosystem and protocol.

Token Unlocking:

Murasaki (MURA) will unlock approximately 20 million tokens at 8:00 AM Beijing time on February 23, accounting for 2.00% of the current circulation, valued at approximately $85.4 million.

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