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Important News Review
Gate.io Launches PAXG Perpetual Contract Spot Trading
Gate.io launched PAX Gold (PAXG) perpetual contract spot trading (settled in USDT) on Friday (March 21), supporting leverage of 1 to 50 times.
PAXG is a virtual asset backed by physical gold stored in the London Bullion Market Association (LBMA) vaults. It provides investors with a cost-effective way to hold physical gold.
Trump Calls for Stablecoin Legislation
U.S. President Trump spoke at the Digital Assets Summit on Thursday, calling on Congress to pass a significant stablecoin bill, stating that it would help maintain the dollar's dominance in the global financial system. The bill has made progress in the Senate Banking Committee and aims to regulate privately issued stablecoins pegged to the dollar.
Additionally, Trump urged Congress to pass landmark legislation to establish simple, common-sense rules for stablecoins and market structure.
Pump.fun Launches Decentralized Exchange PumpSwap
The innovative platform Pump.fun, based on the Solana blockchain, launched a native decentralized exchange called PumpSwap on Thursday, directly competing with Solana's existing automated market makers (AMM). It no longer directs popular memecoins to Raydium but instead provides initial liquidity internally to reduce costs and adjust revenue models. In the future, PumpSwap plans to offer revenue to token creators through a 25 basis point trading fee sharing mechanism, although specific ratios and timelines have not been disclosed.
Ripple CEO Expects XRP ETF Launch in Second Half of Year
Ripple CEO Brad Garlinghouse stated in an interview with Bloomberg that he expects the XRP exchange-traded fund (ETF) to launch by the end of 2025 after Ripple resolves its legal dispute with the U.S. Securities and Exchange Commission (SEC). Brad said, "I am confident about the ETF, and at the same time, an IPO for Ripple Labs is not out of the question."
Trump Media Executives Form SPAC
Three executives from Trump Media & Technology Group have partnered to form a special purpose acquisition company (SPAC) aimed at raising approximately $179 million to fund its expansion in blockchain, cryptocurrency, and data security. The new company is named Renatus Tactical Acquisition Corp and is registered under Cayman Islands law.
Reports indicate that an S-1 form has been submitted to the SEC in preparation for the company's initial public offering (IPO).
Volatility Shares Launches Two Solana Futures ETFs
Volatility Shares announced on Thursday the launch of two Solana futures ETFs: SOLZ (Volatility Shares Solana ETF) and SOLT (Volatility Shares 2X Solana ETF). SEC filings show that SOLZ has a management fee of 0.95% until June 30, 2026, at which point the fee will increase to 1.15%; SOLT has a management fee of 1.85%.
This new development is seen by the market as a signal of an upcoming Solana spot fund.
Japanese Listed Company Metaplanet Increases Bitcoin Holdings by 150
Japanese hotel operator Metaplanet spent approximately $12.5 million to purchase 150 bitcoins (BTC) at an average price of $83,508 each. The company's total Bitcoin holdings amount to 3,200, with a total cost of about $266.2 million. To purchase Bitcoin, the company also issued 2 billion yen (approximately $13.38 million) in zero-coupon ordinary bonds this week.
Since adopting a Bitcoin-focused strategy last April, the company has been accumulating Bitcoin, aiming to hold 10,000 bitcoins by the end of 2025 and 21,000 bitcoins by 2026.
Solana Futures Officially Launched on CME
The Chicago Mercantile Exchange (CME) officially launched Solana futures trading on Monday, with a first-day trading volume of $12.1 million. In comparison, this trading volume is far from the performance of Bitcoin and Ethereum when they first launched futures on CME.
Some analysts believe that considering the price trends of Bitcoin and Ethereum, Solana's price may not experience a strong upward trend. The lack of price increase after its futures launch on CME indicates a lack of investor enthusiasm.
Korean Central Bank Clearly Rejects Bitcoin Inclusion in Foreign Exchange Reserves
The Bank of Korea has clearly stated that it has never considered including Bitcoin in its foreign exchange reserves and believes that a cautious approach should be taken. The Bank of Korea pointed out that Bitcoin's price is highly volatile, and if the market is unstable, there is a risk of sharply rising transaction costs during the monetization process. Additionally, Bitcoin does not meet the International Monetary Fund (IMF) standards for foreign exchange reserves.
Next Week's Highlights
Gate.io to Launch Nillion Spot Trading
Gate.io will launch Nillion (NIL) spot trading next Monday.
Nillion is a permissionless network that provides secure data storage and computation for blockchain and artificial intelligence (AI). Processing high-value data (such as data from AI agents, transaction data, etc.) is highly challenging or impossible for blockchain. Nillion addresses this issue by storing and computing encrypted data (known as blind computation).
U.S. Bitcoin Mining Company CleanSpark Added to S&P SmallCap 600 Index
U.S. Bitcoin mining company CleanSpark previously announced that it will officially join the S&P SmallCap 600 Index, with this adjustment taking effect before the market opens next Monday.
The S&P SmallCap 600 Index aims to measure the performance of small-cap stocks in the U.S. stock market, and CleanSpark's inclusion in this index marks further recognition of the company in the capital markets.
Prior to this, another major Bitcoin mining company, Marathon Digital, was also added to the index.
Celo to Activate Transition to Ethereum L2 Hard Fork Next Wednesday
Celo's transition to the Ethereum L2 mainnet activation date is set for next Wednesday at 11 AM, with a hard fork block height of 31,057,000. After the upgrade, Celo L2 will reduce block time from 5 seconds to just 1 second. Celo's complete history and block height will remain unchanged, allowing users to look up past transactions.
U.S. February PCE Price Index to be Released Next Friday
The U.S. February core personal consumption expenditures (PCE) data will be released next Friday. The market expects the core PCE inflation rate to rise from 2.6% year-on-year in January to 2.8% in February. Tariff increases may begin to reflect in consumer prices as early as March, and in the coming months, the core inflation rate is expected to climb above 3%.
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