24H Hot Cryptocurrencies and News | The U.S. Senate overwhelmingly votes against the DeFi broker bill; Blockstream secures billions in investment to launch three funds (March 5)

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24H Hot Coins and News | U.S. Senate Overwhelmingly Opposes DeFi Broker Bill; Blockstream Secures Billions in Investment for Three Funds (March 5)

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  1. 24H Hot Search Coins

WANCE: A meme coin related to current U.S. Vice President JD Vance, originating from Vance's strong performance during a recent meeting between Trump and Ukrainian President Zelensky, which sparked widespread discussion and led to the creation of several related memes, including yesterday's PWEASE token.

Headlines

U.S. Senate Overwhelmingly Opposes DeFi Broker Bill, Moves to House Voting Stage

The U.S. Senate passed a resolution with a vote of 70-27 to repeal the IRS's expanded broker rules, which were originally intended to cover DeFi. The next step requires a vote in the House, after which the President can sign it into effect, repealing the regulation and preventing the IRS from implementing similar policies in the future.

Previously, U.S. crypto-friendly Senator and Chair of the Senate Banking Committee on Digital Assets, Cynthia Lummis, retweeted a post on X stating, "The White House will support the CRA to repeal the DeFi broker rules," and added: "The IRS's regulations on DeFi fundamentally misunderstand how decentralized technology operates. Wyoming has always been at the forefront of responsible digital asset regulation, and I have witnessed how regulatory clarity—rather than overregulation—promotes innovation. These harsh federal regulations could push U.S. crypto entrepreneurs overseas when we should be nurturing this industry domestically. I am honored to work with Senator Ted Cruz to repeal this attack on the crypto community."

Blockstream Secures Billions in Investment for Three Funds, Two of Which Will Be Used for Crypto Lending

According to insiders, Bitcoin infrastructure development company Blockstream Corp. has secured billions in investment to launch three funds, two of which will be used for crypto lending. Another source revealed that these three funds will go live on April 1, and the company plans to accept additional external capital starting July 1. Blockstream declined to comment on this.

Industry News

Circle's USDC to Become Japan's First Dollar Stablecoin

Circle's USDC will become Japan's first dollar stablecoin, with SBI VC Trade being the first to list Circle's stablecoin under Japan's new payment framework.

El Salvador Increases Bitcoin Holdings by 1 BTC, Total Holdings Reach 6,101 BTC

El Salvador increased its Bitcoin holdings by 1 BTC early this morning, bringing its total holdings to 6,101.18 BTC. Yesterday, El Salvador accumulated an additional 5 BTC.

Aave High-Risk Loan Volume Drops by $1 Billion, Liquidation Volume Decreases

According to data from IntoTheBlock, high-risk loans on the Aave mainnet have decreased by nearly $1 billion since the large-scale liquidation event on February 3, and liquidation volumes have also significantly declined. Notably, current market volatility is more severe than in February, which theoretically should lead to more borrowers facing forced liquidation, yet actual liquidation volumes have dropped sharply. This phenomenon can be partly attributed to previous forced liquidations, but a more significant factor may be the overall shift in market sentiment. Many large holders have begun to adopt more cautious strategies, actively deleveraging to reduce risk exposure in response to potential price pressures and market uncertainty.

JPMorgan: Total Market Value of 14 Listed Mining Companies Fell by 22% in February, Bitcoin Mining Economics Weakens

JPMorgan tracked a 22% drop in the total market value of 14 listed mining companies in February, highlighting the weakening of Bitcoin mining economics. The bank noted that following the announcement of DeepSeek AI and concerns over recent data center capacity demand, the stock prices of Bitcoin mining companies with high-performance computing (HPC) exposure fell. JPMorgan added in its report that Core Scientific (CORZ) performed the best, down 9%, while Greenidge Generation performed the worst, down 36% for the month.

Project News

Monad: Sending Over 10 MON Test Coins to Individual Addresses of Numerous NFT Holders

Monad officially announced that it has sent over 10 MON test coins to wallet addresses holding the following NFTs.

• cryptopunks • milady maker • bored ape yacht club • pudgy penguins • autoglyphs • chromie squiggles
• mutant ape yacht club • doodles • fidenza • azuki • lil pudgys • meebits • captains • redacted remilio babies
• parallel avatars • sappy seals • digidaigaku • max pain xcopy • cool cats • mfers • moonbirds • forgotten runes wizard cult • cryptoadz • beanz • rektguy • opepen • the plague • checks • schizoposters • pudgy rods

Aave Community Releases New Proposal to Update AAVE Token Economics, etc.

According to market news, Aave DAO service provider Marc Zeller released a governance proposal seeking approval to implement the first part of the updated Aavenomics, including updating AAVE token economics, redistributing protocol excess income, phasing out LEND tokens, and updating AAVE secondary liquidity protocol management. This proposal is a natural continuation of the "TEMP CHECK" Aavenomics update proposed in July 2024 and approved in August 2024. This proposal focuses on implementing Aavenomics in a more concise manner compared to "TEMP CHECK" to enhance readability. The "TEMP CHECK" update for Aavenomics was approved about six months ago. The proposal suggests using Umbrella as a protective mechanism for Aave users while redistributing part of Aave DAO's excess income to Umbrella aToken stakers as a growth tool.

MARA: Bitcoin Holdings Increase to 46,374 BTC

U.S. listed crypto mining company MARA released its operational data for February 2025, reporting a Bitcoin mining output of 706 BTC in February, with daily production increasing by 4%, bringing its Bitcoin holdings to 46,374 BTC.

Sony's L2 Network Soneium Has Distributed OG NFT Badges to Early Users

Sony's Layer 2 network Soneium has distributed Soneium OG Badges (requiring at least 45 transactions) and Soneium Premium OG Badges (requiring bridging 1 ETH or 2500 USDC or 70000 ASTR to the network) to early users, which can now be queried through block explorers like Blockscout. On-chain data shows that the total number of addresses holding the two OG NFTs is 426,992.

Investment and Financing

Across Protocol Raises $41 Million in Funding Led by Paradigm

Focusing on interoperability, Across Protocol has raised $41 million by selling its ACX tokens to investors, with Paradigm leading this round of financing. Bain Capital Crypto, Coinbase Ventures, Multicoin Capital, and angel investor Sina Habinian also participated, bringing the total funding amount to $51 million.

Infrared Completes $16 Million Series A Financing, Led by Framework Ventures

Berachain's on-chain Proof of Liquidity (PoL) staking protocol, Infrared, announced the completion of a $16 million Series A financing round, led by Framework Ventures, with participation from Citizen X, Halo Capital, No Limit Holdings, NGC Ventures, and Selini Capital. The total funding raised to date is $18.75 million.

Metaplanet Completes Approximately $87 Million Financing to Increase Bitcoin Holdings

According to Metaplanet's announcement, the company has completed a large-scale exercise of its 13th and 14th series stock subscription rights through a third-party directed issuance, raising approximately 12.97 billion yen (about $87 million). This financing is supported by EVO FUND, and part of the funds has been used to redeem previously issued 7th series ordinary bonds early. Metaplanet plans to use these funds to continue increasing its Bitcoin holdings to strengthen its digital asset investment strategy.

French Crypto Market Maker Flowdesk Raises $102 Million to Expand Services, Including Establishing a Crypto Lending Department

French crypto trading company Flowdesk successfully raised $102 million, with approximately 90% coming from equity financing and about 10% from debt financing. The new funds will be used to expand services, including establishing a crypto lending department and opening an office in the UAE.

Flowdesk focuses on market making and liquidity provision, achieving an eightfold increase in revenue in 2024. This round of financing was led by European investor HV Capital, with participation from French private equity firm Eurazeo, among others. The debt financing comes from a fund managed by BlackRock. Flowdesk plans to use this funding to expand its OTC derivatives business and provide competitive lending and loan solutions. The company will also increase its workforce and open more offices in the coming year. Additionally, Flowdesk is actively preparing to meet compliance requirements under the EU MiCA regulations.

Endless Web3 Genesis Cloud Completes Strategic Round Financing, with Participation from Foresight Ventures and Others

The distributed smart component protocol Endless Web3 Genesis Cloud announced the completion of a strategic round of financing, with major investors including Foresight Ventures and several other institutions and well-known investors.

The financing is intended to accelerate the development of Endless's component-based development platform, AI Agent toolchain, and ecosystem construction, as well as key aspects of project product R&D, ecosystem development support, long-term development reserves, and market and strategic cooperation, promoting Endless to become a super connector between Web2 and Web3, as well as AI and Web3.
Endless is a distributed smart component protocol designed to lower the barriers for Web2 applications to transition to Web3, providing developers with a one-stop Web3 application development platform and offering users a Web2-level experience. Endless is built on a public chain that supports the Move language and integrates various AI large model capabilities and plugins, aiming to become the best connector for AI and Crypto, allowing developers to build Crypto AI applications more easily and quickly.

FastLane Labs Completes $6 Million Financing, Led by Figment Capital and DBA

FastLane Labs announced the completion of $6 million in financing, led by Figment Capital and DBA, with participation from Coinbase Ventures, Robot Ventures, Hashkey Capital, CHORUS ONE, and others.

Previously, in May 2023, FastLane Labs, the developer of the Polygon ecosystem MEV solution FastLane, announced the completion of a $2.3 million seed round financing, led by Multicoin Capital, with participation from Polygon Ventures, Shima Capital, Delphi Ventures, Everstake Ventures, a41 Ventures, and the venture capital fund Symbolic Capital, co-founded by Polygon co-founder Sandeep Nailwal.
It is reported that the FastLane protocol focuses on generating revenue for validators and improving the efficiency of algorithmic traders while minimizing redundant transactions on the network without requiring custom software to be installed or managed on validation nodes.

Regulatory Trends

U.S. Treasury Sanctions 49 Bitcoin and Monero Addresses Linked to Dark Web Market Nemesis

According to an announcement from the U.S. Treasury's Office of Foreign Assets Control (OFAC), the U.S. government has sanctioned 49 cryptocurrency addresses controlled by Iranian citizen Behrouz Parsarad, who is accused of being an administrator of the dark web market Nemesis. The sanctioned addresses include 44 Bitcoin and 5 Monero addresses. Before its shutdown, Nemesis had 30,000 active users and facilitated nearly $30 million in drug transactions over three years. According to OFAC, Parsarad profited millions of dollars by charging users transaction fees and is suspected of laundering money for drug traffickers and cybercriminals. Nemesis's transactions included a wide range of illegal activities, such as drugs, personal identity data, forged documents, ransomware, and cybercrime tools (such as phishing attacks and DDoS tools).

U.S. SEC Agrees to Dismiss Lawsuit Against Cumberland DRW

Crypto trading company Cumberland DRW announced that it has signed a joint application with the U.S. Securities and Exchange Commission (SEC) to dismiss the lawsuit filed against it. The agreement was reached in principle on February 20 and is currently awaiting SEC commission approval. The SEC sued Cumberland DRW last October, accusing it of operating as an unregistered securities dealer and selling over $2 billion in unregistered securities.

Voices

El Salvador President: Will Not Stop Accumulating Bitcoin Due to IMF Agreement

El Salvador's Nayib Bukele stated that El Salvador has no intention of stopping its Bitcoin (BTC) purchases, regardless of what the International Monetary Fund (IMF) requests. Bukele posted on X, saying: "'This will all stop in April.' 'This will all stop in June.' 'This will all stop in December.' No, it will not stop. If the world rejects us, and most 'Bitcoin users' abandon us, we will not stop now or ever. Proof of work > proof of complaint." Earlier that day, the IMF released more details about its $3.5 billion agreement with the Latin American country. The IMF claimed that as part of the loan program, it prohibits "the public sector from voluntarily accumulating Bitcoin."

U.S. Commerce Secretary: Trump Will Compromise on Tariffs with Canada and Mexico, May Announce Reductions Tomorrow

U.S. Commerce Secretary Lutnick stated on Tuesday that the Trump administration may announce a path to tariff reductions on goods from Mexico and Canada as early as tomorrow. In an interview with Fox, Lutnick said, "Officials from Mexico and Canada have been on the phone with me all day trying to indicate that they will do better, and the President is listening, so I think he will reach some agreement with them. This won't be a suspension of tariffs, but I think Trump will compromise with them in some ways, and we are likely to announce this tomorrow." Lutnick indicated that tariffs might be set at "some middle level," and Trump would make some concessions to Canada and Mexico but would not fully back down. Lutnick dismissed the idea that tariffs would be completely lifted, referencing the United States-Mexico-Canada Agreement (USMCA) reached during Trump's first term through negotiations. "If those rules are followed, then the President will consider giving you a reduction," he said. "If those rules are not followed, then tariffs will apply." This marks the first public indication since the implementation of tariffs that Trump may waver on this issue. The market is confused, as Trump previously stated that retaliatory tariffs from Canada would immediately trigger the U.S. to "increase equivalent tariffs."

Analysis: Probability of U.S.-Canada Trade War Ending Before May Rises to 70% on Polymarket, Crypto Market May React Positively

Polymarket data shows a 70% probability that the U.S.-Canada trade war will end before May. The Trump administration imposed a 25% tariff on goods from Canada and Mexico on Tuesday, but Lutnick later hinted at the possibility of negotiations, easing market sentiment and causing the related prediction probability to rise by 20% in a short time. Lutnick stated that Trump hopes to reach an agreement with Canada and Mexico rather than simply suspending tariffs. Following this news, the crypto market rose, with Bitcoin breaking through $87,000. (CoinDesk)

Earlier news indicated that U.S. Commerce Secretary Lutnick stated on Tuesday that the Trump administration may announce a path to tariff reductions on goods from Mexico and Canada as early as tomorrow. In an interview with Fox, Lutnick said, "Officials from Mexico and Canada have been on the phone with me all day trying to indicate that they will do better, and the President is listening, so I think he will reach some agreement with them. This won't be a suspension of tariffs, but I think Trump will compromise with them in some ways, and we are likely to announce this tomorrow." Lutnick indicated that tariffs might be set at "some middle level," and Trump would make some concessions to Canada and Mexico but would not fully back down.

Cynthia Lummis: The Door to Punitive Regulation Against the Crypto Industry is Closing

U.S. Senator and Chair of the Senate Banking Committee on Digital Assets, Cynthia Lummis, commented on the dismissal of the lawsuit against crypto exchange Kraken on X, stating: "This is a huge victory for the digital asset industry, and we are closing the door to punitive regulation, welcoming the return of American innovation."

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