Today's News Highlights:
The U.S. SEC announces the establishment of a Cyber and Emerging Technologies Unit to protect retail investors, focusing on combating cryptocurrency asset fraud.
The "Litecoin ETF" from Canary Fund has been added to the DTCC website.
Grayscale's XRP ETF has been published in the Federal Register, and the U.S. SEC must make a decision by October 18.
Hong Kong will promote the use of tokenization technology in capital markets.
Kaito AI releases KAITO tokenomics: total supply of 1 billion tokens, with the foundation holding 10%.
Story releases the latest roadmap: plans to launch new features such as an IP portal and proof services in Q2.
The Argentine Senate requests a government report on the LIBRA token scandal.
CoinList will launch the Obol token sale on February 25.
The top whale in the PAIN presale has not yet sold tokens, with an unrealized profit of $2.39 million.
Regulation/Macro
According to Jin10, initial jobless claims in the U.S. for the week ending February 15 are 219,000, expected 215,000, with the previous value revised from 213,000 to 214,000.
Fox reporter: The U.S. SEC is very interested in "staking" and is expected to issue related guidance
According to Fox Business reporter Eleanor Terrett's post on X platform, sources revealed that the U.S. SEC is very interested in "staking" and has even requested the industry to provide a memorandum detailing different types of staking and their benefits. The source expects that the U.S. SEC will issue some guidance on staking in the near future, as it is a topic they are keen on.
According to an official announcement, the U.S. Securities and Exchange Commission today announced the establishment of the Cyber and Emerging Technologies Unit (CETU), focusing on combating misconduct related to the internet and protecting retail investors from bad actors in the emerging technology space. Led by Laura D'Allaird, CETU replaces the Crypto Assets and Cyber Unit and consists of about 30 fraud experts and attorneys from various SEC offices.
Specifically, CETU will leverage its staff's extensive fintech and internet-related experience to combat misconduct related to securities trading in the following priority areas:
- Fraud implemented using emerging technologies such as artificial intelligence and machine learning
- Fraud conducted through social media, the dark web, or fake websites
- Obtaining significant non-public information through hacking
- Takeover of retail brokerage accounts
- Fraud involving blockchain technology and cryptocurrency assets
- Compliance of regulated entities with cybersecurity rules and regulations
- Fraudulent disclosures related to cybersecurity by publicly listed companies
Figure receives U.S. SEC approval to issue the first interest-bearing stablecoin
According to Fortune, Figure has received U.S. SEC approval to issue the first interest-bearing stablecoin, but a spokesperson for the agency did not immediately respond to requests for comment. The stablecoin, named YLDS, is developed by digital asset company Figure Markets, will be pegged to the U.S. dollar, and will offer users a 0.5% yield, similar to cash in a savings account.
The "Litecoin ETF" from Canary Fund has been added to the DTCC website
The Litecoin (LTC) ETF from Canary Fund has been confirmed to be registered with the U.S. Depository Trust & Clearing Corporation (DTCC), with the code LTCC. Previously, the U.S. Securities and Exchange Commission (SEC) announced that it had officially received the 19b-4 filing for the LTC ETF from Canary Fund.
Fox Business reporter Eleanor Terrett tweeted that Grayscale's XRP ETF (19b-4 submission) has been officially published in the Federal Register. This means that the U.S. SEC will enter the review phase from now on and will approve or reject it by October 18.
Utah's Bitcoin reserve bill enters the Senate for a second review
Legislation allowing Utah to invest in Bitcoin has been passed by the state Senate committee. The HB230 "Blockchain and Digital Innovation Amendment" bill was passed by the Utah Revenue and Taxation Committee on February 20 with a vote of 4-2-1 and is currently undergoing second and third readings before the final Senate vote. The Bitcoin reserve bill has already passed the House, so if it is approved in the Senate, Utah's Republican Governor Spencer Cox only needs to sign the bill for Bitcoin to become a state reserve asset.
Hong Kong will promote the use of tokenization technology in capital markets
According to Hong Kong media Ming Pao, Hong Kong's Deputy Financial Secretary, Paul Chan, stated that the government will further improve the regulation and framework for virtual assets and continue to promote the broader application of tokenization technology in capital markets, as well as improve system development and establish industry standards. Additionally, Hong Kong is proactive and capable in developing fintech, having published a policy declaration on the responsible application of artificial intelligence in financial markets last October and submitted a draft "Stablecoin Regulation" in December for regulating fiat stablecoin issuers.
AI
According to The Verge, Microsoft is preparing for OpenAI's latest model, with GPT-4.5 expected to be released as early as next week, and GPT-5 anticipated to launch in late May. The updated GPT-5 will significantly improve the way ChatGPT is used, unifying OpenAI's o-series and GPT series models, and reducing user confusion over model selection.
DeepSeek will open source 5 code repositories next week
DeepSeek announced today that it will gradually open source 5 code repositories over the next week, with new content unlocked daily to further share new progress.
DeepSeek introduced that the modules of the current online service have been tested and are fully deployed, ready for production. The company defines itself as a small company and stated that each share will become a powerful momentum, accelerating the journey of industry development. It also mentioned that there is no ivory tower in this field, only the pure entrepreneurial spirit of garage startups and the innovative power built by the community.
OpenAI launches AI broker "Operator" in several regions
According to Jin10, OpenAI announced on Friday that it is launching an AI broker called "Operator" for ChatGPT Pro users in Australia, Brazil, Canada, India, Japan, Singapore, South Korea, the UK, and other regions. OpenAI stated that Operator will be available in most regions supporting ChatGPT, except for the EU, Switzerland, Norway, Liechtenstein, and Iceland. Launched in the U.S. in January, "Operator" is one of several "AI broker" tools on the market that can take instructions to perform tasks such as booking tickets, making restaurant reservations, submitting expense reports, or shopping on e-commerce sites.
Project Updates
Kaito AI releases KAITO tokenomics, with a total supply of 1 billion tokens, distributed as follows:
- 25% - Core contributors;
- 32.2% - Ecosystem and network growth;
- 2% - Binance holders;
- 10% - Initial community and ecosystem claims;
- 7.5% - Long-term creator incentives;
- 5% - Liquidity incentives;
- 8.3% - Early supporters;
- 10% - Foundation.
Deribit is evaluating acquisition offers, with a valuation potentially reaching $4-5 billion
According to Coindesk, cryptocurrency options exchange Deribit is working with FT Partners to evaluate acquisition offers, with Bloomberg disclosing that the company's valuation could reach $4 billion to $5 billion or even higher. Deribit has declined to comment on the related information.
According to @ai_9684xtpa's monitoring, Wintermute is one of the market makers for the new token KAITO, having received 1.2 million KAITO tokens (0.5% of the initial circulation) from the project's multi-signature address 3 hours ago, with 400,000 tokens already deposited into CEX.
Binance to Launch KAITO 1-75x U-Based Perpetual Contracts
According to the official announcement, Binance will launch KAITO on its financial services, one-click buy, instant exchange, leverage, and contracts, with KAITO 1-75x U-based perpetual contracts expected to go live on February 20, 2025, at 21:00 (UTC+8).
Coinbase to Support Kaito (KAITO)
Coinbase has announced that it will add support for Kaito (KAITO) on the Base network. Please do not send this asset through other networks, as funds may be lost. Trading will begin later today if liquidity conditions are met. Once the supply of the asset is sufficient, the KAITO-USD trading pair will be launched in phases. Support for KAITO may be restricted in certain supported jurisdictions.
Crypto Exchange Kraken Considering Launching Stablecoin
According to Bloomberg, sources revealed that Kraken is exploring the development of its own stablecoin. This move is partly due to competitive gaps created by new European regulations that require crypto service providers to delist Tether's USDT and other unlicensed tokens. The source stated that the token will be pegged to the U.S. dollar and issued by Kraken's Irish subsidiary.
The exchange announced this month, that starting March 31, all non-compliant coins held on Kraken's European platform will be converted to "equivalent stablecoins." If all goes well, this will not be Kraken's first foray into the digital dollar space. At the end of last year, the exchange joined an alliance called the Global Dollar Network, which partnered with Paxos to launch a stablecoin named USDG. Other members, such as Robinhood and Galaxy Digital, are also developing their own stablecoins.
Meanwhile, Crypto.com announced its stablecoin plans in its 2025 roadmap last November, aiming to launch in the third quarter. Additionally, another informed source indicated that the exchange plans to launch the token in Europe and informed customers last month that Tether would exit trading in the region by the end of March.
SBF Changes Political Stance to Support Trump in First Interview from Prison, Seeking Pardon
FTX founder Sam Bankman-Fried criticized the Biden administration's "destructive" politicization of the judicial system during his first interview at the Brooklyn Metropolitan Detention Center in New York, attempting to seek a pardon from President Trump. He was sentenced to 25 years in prison for one of the largest cryptocurrency fraud cases to date and is currently serving his sentence at the center. Bankman-Fried reiterated claims that FTX was solvent but lacked liquidity, as well as allegations of mishandling bankruptcy proceedings by the law firm Sullivan & Cromwell.
Argentine Senate Requests Government Report on LIBRA Token Scandal
According to TASS, the Argentine Senate approved a motion requesting the government to provide a report on the $LIBRA cryptocurrency scandal. However, the proposal to establish a parliamentary committee to investigate the scandal was rejected. The initiative received support from 47 senators, but 48 votes are needed to initiate the procedure.
CoinList to Launch Obol Token Sale on February 25
CoinList announced that it will open the Obol token sale on February 25 at 1:00 (Beijing time), offering a 30% discount compared to the last round of VC investment. Obol is the foundation of an L1 blockchain and decentralized infrastructure network. Sale details are as follows:
For regular users:
- FDV is $125 million
- Token price is $0.25
- 33% unlock after TGE, followed by linear unlock over 12 months
For wstETH or weETH holders:
- FDV is $115 million
- Token price is $0.23
- 33% unlock after TGE, followed by linear unlock over 12 months
- Users must hold at least $20 worth of wstETH or weETH on CoinList between March 4 at 1:00 and March 11 at 1:00 to enjoy the lower price and FDV.
The purchase limit for both options is a minimum of $100 and a maximum of $250,000. After the subscription period ends, users who are not selected for allocation will receive funds in their CoinList wallets by March 13 at 1:00. This public sale is not available to users in the U.S., China, Canada, and certain other jurisdictions.
Story Releases Latest Roadmap: Plans to Launch IP Portal and Proof Services in Q2
L1 intellectual property blockchain Story has released its roadmap, with two major technology releases planned for 2025:
End of Q1/Beginning of Q2: The IP portal will be launched, serving as Story's homepage, allowing users to seamlessly register IP and browse any applications registered on Story. A proof service will also be launched, which is a decentralized oracle network that brings IP verification signals (creator identity, infringement detection, etc.) on-chain.
In Q3, a comprehensive upgrade of the network will enhance L1 in three dimensions:
- Performance: Faster transactions, higher throughput, more validators
- Products: IPKit Frontend SDK, large file storage, etc.
- Governance: Decentralized, transparent, frictionless upgrades
Musk Changes X Account Avatar, Background Features "The Doge Father"
Musk changed his X account avatar to an image of himself holding a "golden chainsaw," with the background featuring "The Doge Father." It is reported that the "golden chainsaw" was a gift from Argentine President Milei.
Kaito AI Founder: KAITO Staking Rewards Now Live, More Utility Information Coming Soon
Yu Hu, founder of the AI-based crypto search engine Kaito AI, posted on the X platform that KAITO staking rewards are now live, with approximately 10% of tokens staked and an annualized yield of 70%. This yield is expected to gradually normalize in the coming days, as locked tokens, including those from investors/foundations/teams, cannot be staked. Currently, the source of rewards is liquidity incentives, but starting next week, as network fees increase, this will shift to net consumption, with more utility information about staking to be released soon.
According to the official announcement from BNB Chain, the BNB Smart Chain (BSC) will undergo a Pascal hard fork. The fork is scheduled to take place on the testnet on February 25, 2025, with the mainnet planned for mid-March 2025. The Pascal hard fork enhances BSC's compatibility with Ethereum by integrating key features from the Ethereum Pectra upgrade.
Binance Alpha Launches B3, FLUID, VVV, TOKEN, DRIFT, CPOOL
According to the official page, Binance Alpha has added B3, FLUID, VVV, TOKEN, DRIFT, and CPOOL.
Opinions
QCP Capital stated in a post on their TG channel that demand for high Delta Bitcoin call options from February to April is strong, likely driven by Trump's statements and speculation surrounding potential strategic Bitcoin reserves, contributing to short-term bullish sentiment. Additionally, the 25 Delta implied volatility has shifted towards bullish options across all maturities, indicating that the market is preparing for the second phase of a bull market. As inflation concerns ease, the S&P 500 index has reached new highs, and the U.S. dollar index (DXY) has retreated to the 107 level, the macro environment seems increasingly supportive of risk assets.
Since Trump took office, altcoins have garnered widespread attention, with multiple ETF applications related to altcoins submitted to the U.S. Securities and Exchange Commission (SEC), including an ETF application for XRP. Notably, Brazilian regulators have approved the world's first spot XRP ETF. It remains uncertain whether this will catalyze Trump's ambition to position the U.S. as a global cryptocurrency hub and pave the way for further ETF approvals in 2025.
Vitalik Buterin stated that the Ethereum community in Argentina is filled with outstanding builders who have contributed some of the most important software to the Ethereum ecosystem. Argentina indeed has the determination and energy to maintain the current momentum, leveraging cryptocurrency and other new technologies to build a prosperous 21st-century society. Recent news should not be seen as a reason to give up but rather as an important example of education, and he remains very optimistic about Argentina and Latin America's contribution and role in the crypto space.
Bybit CEO: The PI Project is a Scam, Bybit Will Not List Any Suspected Scam Projects
Bybit CEO Ben Zhou tweeted that in 2023, Chinese police issued an official warning about PI, alerting the public that it is a scam targeting the elderly, which could leak personal data and lead to loss of pensions. There are also multiple other reports questioning the legitimacy of the project. Bybit has not received any listing requests from PI and claims that PI's refusal to list on Bybit or the assertion that Bybit did not pass some kind of PI KYB is completely absurd. If the PI project were real and legitimate, it should proactively respond to these doubts, but instead, it chooses to fabricate lies and make baseless childish attacks. He still believes PI is a scam, and Bybit will not list any suspected scam projects.
CryptoQuant CEO: Altcoin Season Has Begun, Trading Volume is the Deciding Factor
CryptoQuant CEO Ki Young Ju tweeted that altcoin season has begun. There is no direct rotation from BTC to altcoins, but stablecoin holders favor altcoins. The trading volume of altcoins is 2.7 times that of BTC. BTC's dominance no longer determines altcoin season; trading volume does. However, this is a very selective altcoin season, so do your own research (DYOR).
Important Data
PAIN Pre-sale Top Whale Has Not Sold Tokens, Floating Profit of $2.39 Million
According to on-chain analyst @ai_9684xtpa, the top whale in the PAIN pre-sale has not sold any tokens and has a floating profit of $2.39 million. This whale invested 20,000 SOL to participate in the pre-sale two weeks ago (after refunds, the actual investment was 4,000 SOL, about $860,000); after receiving 215,327 PAIN yesterday, it transferred 30,145 to two new addresses, both of which have not been sold, making it the current top personal holding address.
A Trader Bought 6,783 $SHADOW 17 Days Ago, Currently with a Floating Profit of $1.15 Million
According to Lookonchain, a trader spent 150,300 S tokens ($70,500) to buy 6,783 $SHADOW 17 days ago, and these tokens are currently worth about $1.22 million, with a floating profit of $1.15 million.
LayerZero Foundation Multisig Address Transfers 1 Million ZRO to Coinbase, Worth $3.06 Million
According to ai_9684xtpa, the LayerZero Foundation multisig address transferred 1 million ZRO to Coinbase 7 hours ago, worth $3.06 million. This address currently holds 77.91 million ZRO, with a total value of up to $238 million.
A Whale Earned $1.72 Million by Trading Sonic Ecosystem DeFi Token SHADOW
According to lmk.fun (formerly Scopescan), a whale has earned $1.72 million by trading the Sonic ecosystem DeFi token SHADOW. Twenty days ago, this whale spent $100,700 to purchase 10,324 SHADOW at an average price of $9.75. Today, it sold 9,300 tokens for a total value of $1.629 million, at an average selling price of $175, and still holds 1,000 tokens, worth about $190,000.
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