1. Popular currencies on CEX
CEX top 10 trading volume and 24-hour rise and fall:
BTC: -4.25%
ETH: -4.85%
XRP: -1.82%
SOL: -5.42%
ADA: -11.82%
SUI: -0.11%
DOGE: -4.57%
TRUMP: -4.86%
ENA: +3.02%
LINK: -2.47%
24 H increase list (data source: OKX):
AUCTION：+9.27%
DGB: +9.02%
MOVE: +7.62%
CRO: +5.97%
CETUS: +5.26%
ICE: +2.41%
SD: +1.27%
TRA: +1.12%
SUI: +0.70%
PNUT: +0.65%
2. Top 5 popular memes on the chain (data source: GMGN ):
BWEATHE
Nadu
TDF
TRUMPKING
Strawberry
3. 24-hour hot search currencies
TRUMPKING, due to the recent cryptocurrency market being tied to Trump, a Trump worship phenomenon has appeared on the chain. This Meme coin is a summary and mockery of this phenomenon.
Headlines
Trump signs executive order to establish US strategic Bitcoin reserve
According to David Sacks, President Trump has just signed an executive order to establish the US Strategic Bitcoin Reserve. The reserve uses Bitcoin obtained by the government through asset confiscation procedures and will not increase the burden on taxpayers. Main content:
The U.S. government estimates that it owns about 200,000 bitcoins, and the order requires a comprehensive audit;
The Bitcoin in the reserve will be retained as a store of value and will not be sold;
Premature sales of Bitcoin have cost taxpayers more than $17 billion;
The finance and commerce departments could devise plans to acquire more bitcoins without increasing the burden on taxpayers;
At the same time, a U.S. digital asset reserve will be established to manage other digital assets held by the government;
The President delivered on his promise to make the United States the “crypto capital of the world,” with key contributions from Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Task Force Executive Director Bo Hines.
Trumps executive order establishes two types of digital asset holding mechanisms
FOX Business reporter Eleanor Terrett wrote on X that Trump’s executive order established two different digital asset storage mechanisms:
1. Strategic Reserve stores only Bitcoin (BTC) - considered the best digital asset for storing value Initial funding source: about 200,000 Bitcoins acquired by the government through criminal and civil forfeiture over the years Unique authorization: Treasury Secretary Bessent and Commerce Secretary Lutnick are authorized to explore ways to acquire more Bitcoin without increasing the burden on taxpayers Positioned as a national digital value reserve
2. The Digital Asset Stockpile contains other digital assets besides Bitcoin - possibly including XRP, ADA, ETH and SOL, among others. The Ministry of Finance is responsible for responsible management of the digital assets held by the government.
The government will only explore budget-neutral ways to buy more Bitcoin and will not actively seek to increase the amount of other digital assets in the reserve.
The executive order also requires a comprehensive audit of all digital assets currently held by the government to ensure transparency in asset management.
Industry News
The number of people continuing to apply for unemployment benefits in the United States for the week ending February 22 was 1.897 million, in line with expectations of 1.88 million. The previous value was revised from 1.862 million to 1.855 million.
According to data disclosed by IntoTheBlock, despite the recent surge in market panic, traders appear to still be showing confidence in Bitcoin, with nearly $900 million worth of Bitcoin withdrawn from exchanges in the past seven days.
According to on-chain analyst Ali’s monitoring, the number of addresses holding more than 10,000 ETH has reached 919, with an average holding price of US$2,172.
Project News
Trump family crypto project WLFI reaches cooperation with Sui Network
According to official news, the Trump familys crypto project WLFI has reached a cooperation with Sui Network. WLFI plans to incorporate Sui assets into the strategic token reserve Macro Strategy and begin exploring product development opportunities.
Data disclosed by Strategy (formerly MIcroStrategy) on the X platform shows that thanks to the support of Bitcoin, Strategy has become the largest issuer of convertible bonds in the US market so far this year, with a market share of 30%. So far this year, the company has issued $2 billion in convertible bonds.
Token Terminal: Uniswap’s historical cumulative transaction volume exceeds 2.5 trillion US dollars
Token Terminal published a statement disclosing data stating that Uniswap’s historical cumulative transaction volume has exceeded 2.5 trillion US dollars.
Tether freezes $28 million worth of USDT on sanctioned Russian exchange Garantex
Stablecoin issuer Tether has frozen about $28 million (250 million rubles) of USDT from sanctioned Russian crypto exchange Garantex, causing the platform to suspend operations. Garantex said in an official announcement that it has temporarily suspended operations and closed the withdrawal function, and its website is currently under maintenance.
The freeze came after the EU imposed a new round of sanctions on Garantex on February 26. Garantex warned users that all USDT in Russian wallets are currently at risk. The platform stressed that it would not give up and would continue to fight.
Garantex was included in the sanctions list by the U.S. Treasury Departments Office of Foreign Assets Control (OFAC) as early as April 2022. Tether has not yet responded to the freezing decision.
According to the official announcement, the on-chain destruction of Gate Token (GT) in the fourth quarter of 2024 has been completed. This time, 2,904,885.4321514 GTs were transferred to the destruction address, with a destruction value of over 63.9 million US dollars. So far, a total of 177 million GTs have been destroyed.
The Dantewada district of Chhattisgarh, India, announced that it has digitized 700,000 land records dating back to 1950 and stored them on the Avalanche blockchain to ensure transparency and tamper-proofing. The project was assisted by Indian blockchain startup LegitDoc (owned by Zupple Labs).
Local officials said the move will greatly improve the accessibility and security of land records, avoiding delays and tampering risks in traditional verification processes. In addition, the government has set up self-service terminals in each sub-region for citizens and officials to query, sensitive data requires authorized access, and can verify on-chain records through Avalanche Explorer.
Investment and Financing
YZi Labs announces investment in Tensorplex
According to official news, YZi Labs announced an investment in Tensorplex, and the specific amount has not been disclosed. Tensorplex Labs is a decentralized AI laboratory that uses decentralized technologies (such as Tensorplex Dojo, Backprop Finance, etc.) to build applications, infrastructure, and tools to enhance AI development and use cases.
Privacy blockchain Seismic completes $7 million financing, led by a16z Crypto
The privacy blockchain project Seismic announced that it has completed US$7 million in financing, led by a16z Crypto, with participation from Polychain, 1kx, NGC, and dao 5. The specific valuation information has not been disclosed yet. The new funds will be used to build a private smart contract platform.
Decentralized AI network Fortytwo announced the completion of a $2.3 million Pre-Seed round of financing, led by Big Brain Holdings, with participation from CMT Digital, Escape Velocity Ventures (EV3), Chorus One, Mentat Group, and angel investors including Santiago R Santos, Keone Hon, Paul Taylor, and Comfy Capital. Fortytwo is creating a new type of reasoning that leverages small language models running on everyday devices to achieve scale and capabilities beyond centralized AI.
Regulatory trends
Texas Strategic Bitcoin Reserve Bill SB 21 Passed by Senate Vote
The Texas Senate passed the Strategic Bitcoin Reserve Act SB 21 with 25 votes in favor and 5 votes against. After that, SB 21 needs to be submitted to the Texas House of Representatives, where the bill will be assigned to relevant committees for review, modification, and hearings. If the House of Representatives makes changes to SB 21, the Senate must agree to these changes, otherwise the two sides will need to coordinate a final version through a conference committee. The final version agreed by both parties needs to be voted on separately. After passing the House and Senate, the bill will be sent to the Governor of Texas for signature. The governor can choose to sign the bill to make it law.
The Hong Kong Securities and Futures Commission has reminded the public to be wary of Linkbex, an entity suspected of engaging in virtual asset fraud and falsely claiming to be affiliated with seven licensed companies in Hong Kong.
Some investors reported that their accounts on Linkbex were frozen due to the SFCs anti-money laundering investigation. At the request of the SFC, the Hong Kong Police Force has taken action to block Linkbex-related websites to prevent further risks.
Character Voice
David Sacks, the White House AI and encryption director, posted on the X platform that the U.S. federal government has sold about 195,000 bitcoins in the past decade, earning $366 million. If the U.S. government still holds these bitcoins, they would be worth more than $17 billion today. This is the price that U.S. taxpayers pay for not developing a long-term strategy.
U.S. Commerce Secretary Lutnick: Tariffs will not finance U.S. sovereign wealth fund
U.S. Commerce Secretary Mattis Lutnick said the tariffs would not provide funding for the U.S. sovereign wealth fund.
Matt Hougan, chief investment officer of Bitwise, recently said that the Trump administrations cryptocurrency reserves will mainly consist of Bitcoin, and the scale may far exceed market expectations. He believes that Bitcoin will dominate and become a core asset.
Startale CEO: Japan plans to classify cryptocurrencies as new assets, not securities
Sota Watanabe, CEO of Startale, revealed that Japans ruling party has proposed to establish a new regulatory framework for cryptocurrencies under the Financial Instruments and Exchange Act. If the proposal is passed this year, cryptocurrencies may not be regulated as securities, but will be regarded as a new asset class, which may lead to the launch of crypto ETFs and a reduction in tax rates from a maximum of 55% to 20%.
The government has been in dialogue with Japanese industry leaders and the move is seen as a positive outcome of regulatory and industry collaboration and is expected to attract more Japanese investors to the on-chain market.
Top trader Eugene Ng Ah Sio said in the TG group: Going into March 7, I dont think there is any expected return (EV) to speculating in reserve assets. The current price is in a no-trading range and I will only focus on mean reversion trades near the edge of the range.
I see many people slowly returning their profits to the market bit by bit, only to be eventually drained of them.
