1. Trump to Speak at Cryptocurrency Summit
U.S. President Donald Trump will address leaders in the cryptocurrency industry at the first cryptocurrency summit held at the White House on Friday. The summit comes as the U.S. government fully withdraws its regulatory actions and investigations against cryptocurrency industry companies. Cameron Winklevoss, co-founder of Gemini, stated that the U.S. Securities and Exchange Commission's conclusion of its investigation into his company marks "another milestone in the end of the cryptocurrency war." -Original
2. Bitcoin ETF Inflows Show Signs of Market Recovery
On the last day of February, the total inflow for U.S. spot Bitcoin exchange-traded funds (ETFs) was $94.3 million, marking the end of the worst month for cryptocurrencies in three years. This figure ended eight consecutive days of outflows, during which investors withdrew over $3.2 billion from these funds due to falling digital asset prices. BlackRock's iShares Bitcoin Trust (IBIT) is the largest spot Bitcoin ETF by assets under management and was one of the outliers with an outflow of $244.6 million on Friday. Meanwhile, according to data from Farside Investors, other large ETFs, including Fidelity's FBTC, received $176 million from investors, while the ARK 21Shares Bitcoin ETF saw the largest inflow of $193.7 million. After Bitcoin's price hit a low of $78,000 in the early hours of February 28, signs of recovery began to emerge in the cryptocurrency market, accompanied by inflows. Bitcoin is currently trading at around $84,900, up 1.6% in the past 24 hours, while the broader CoinDesk 20 index rose 0.3% to 2,705 points. Over the past week, BTC is still down about 12%, while the broader cryptocurrency market, as measured by the CoinDesk 20 index, has fallen by 15.8%. Since February 14, spot Bitcoin ETFs have experienced massive outflows, with inflows of $66.2 million on that day. On the other hand, spot Ethereum ETFs also maintained a continuous outflow trend on the last day of February, with outflows of $41.9 million. According to Farside's data, $357.5 million has flowed out of these funds since the last day of positive net flow. Amid the recent market recovery, the White House announced that U.S. President Donald Trump will host a cryptocurrency summit on March 7, and BlackRock, the world's largest asset management company, will add a 1% to 2% allocation of spot Bitcoin ETF to one of its model portfolios. As foundational trading begins to close positions, BlackRock's Bitcoin ETF set a record for daily outflows. -Original
3. Swiss Central Bank Rejects Bitcoin as Reserve Asset
Swiss National Bank (SNB) President Martin Schlegel rejected the idea of including Bitcoin as part of the Swiss central bank's reserves, citing Bitcoin's lack of stability, liquidity, and security. In an interview with the Tamedia Group, Schlegel listed three main concerns surrounding cryptocurrencies. The first is their volatility, which he said makes them unsuitable for long-term value preservation. "Secondly, our reserves need to have high liquidity so they can be quickly used for monetary policy purposes when needed," Schlegel told Tamedia, pointing out that software assets themselves lack security. "We all know that software can have bugs and other vulnerabilities." Schlegel's remarks come amid increasing debate in Switzerland over the emerging asset class. The article noted that a recent initiative is pushing for a constitutional amendment that would require the Swiss central bank to hold Bitcoin alongside gold in its reserves. This initiative, launched in December and led by entrepreneur Yves Bennaim, does not specify the allocation of Bitcoin but stipulates that it should be increased from bank profits. The initiative has 18 months to collect 100,000 signatures in hopes of triggering a nationwide vote. Despite Switzerland's growing acceptance of cryptocurrencies, with various Swiss banks offering cryptocurrency-related services to clients, Schlegel views the asset class as a "niche phenomenon." He told Tamedia that there is competition for currency, and Schlegel insists that the bank is "not afraid of competition from cryptocurrencies," citing the continued strength of the Swiss franc. -Original
4. U.S. Public Company Eason Technology Invests in Bitcoin
NYSE-listed Eason Technology announced it will invest $150,000 to purchase Bitcoin, but the company's CEO stated that this purchase is for product development and there are currently no plans to include digital assets in the investment portfolio. -Original
5. Musk Says Meme Tokens Are Like Casinos, Invest Cautiously
Elon Musk commented on the phenomenon of meme tokens during an interview on the Joe Rogan podcast, saying, "It's a bit like a casino; it's foolish to think you can win by gambling. Don't put your life savings into meme tokens. If you want to have some fun, you can play around." -Original
6. Bybit Hacker Resumes Money Laundering Activities
The Bybit hacker resumed transferring and laundering stolen assets after a one-day pause. As of yesterday, when the hacker "rested," there were still 218,000 ETH (approximately $486 million) in their address. -Original
7. Hong Kong Stock Company Jiamu Technology to Develop DEX Aggregator
According to an announcement from the Hong Kong Stock Exchange, Hong Kong-listed Jiamu Technology announced the authorization of a new share placement, with the funds raised intended for the development of Web 3.0 business, including the development of an on-chain data analysis platform and the organization of a DEX aggregator for decentralized exchange quotes. It is reported that the net proceeds from the placement are capped at approximately HKD 33.27 million, with about HKD 11.64 million expected to be allocated for the development of the DEX aggregator and on-chain data analysis platform. -Original
8. Discussion Arises from New Token Unlocking Mechanism Proposal
Odaily Planet Daily reports that CZ mentioned a new token issuance proposal on X, with the full content as follows: What if someone issued a token according to the following token economics? Initially, 10% of the tokens are unlocked and sold on the market. The funds raised will be used for the project team's product/platform development, marketing, salaries, and other expenses. Future unlocks must meet all of the following conditions: six months must have passed since the last unlock; the token price must have remained above twice the price of the last unlock for the 30 days prior to the unlock; each unlock can be a maximum of 5% of the tokens. For example, if the token's initial issuance (TGE) is in January at a price of $1, and by June the token price is still below $2, no more tokens can be unlocked. Assuming the token price remains above $2 from July 4 to August 3, then on August 3, an additional 5% of the tokens can be unlocked for circulation. If the price on August 3 is $3, then the earliest possible next unlock date would be March 3 of the following year, and it can only be unlocked if the price has been above $6 for more than 30 consecutive days. The project team has the right to decide to postpone or reduce the scale of each unlock. If they do not want to sell more tokens, they can choose not to sell. However, they can only unlock (sell) a maximum of 5% of the tokens each time, and must wait at least another 6 months, with the price needing to double again. The project team does not have the right to shorten the unlock interval or increase the scale of the next unlock. Tokens will be locked through smart contracts, with the keys controlled by a third party. This mechanism avoids a large influx of new tokens into the market during price downturns. At the same time, it also incentivizes the project team to focus on long-term development. CZ concluded by stating, "There are no plans to issue new tokens. This is just an idea for discussion." -Original
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