BlockBeats will summarize the key industry news of the week (3.10-3.16) in this article, and recommend in-depth articles to help readers better understand the market and industry trends.

Important News Review

Abu Dhabi's MGX Invests $2 Billion in Binance, Acquires Minority Stake

On March 12, cryptocurrency exchange Binance and Abu Dhabi-based AI and advanced technology investor MGX announced a $2 billion investment deal, marking Binance's first institutional investment to date. This is the largest single investment in a cryptocurrency company and the largest investment in cryptocurrency ever. This investment reportedly represents MGX's first foray into the cryptocurrency and blockchain sector, acquiring a minority stake in Binance.

According to MGX's website, MGX Chairman Tahnoon bin Zayed is the UAE Deputy Prime Minister and UAE National Security Advisor, the son of the first UAE President Sheikh Zayed Bin Sultan Al-Nahayan, and the brother of the current UAE President Mohamed Bin Zayed Al-Nahyan. The 56-year-old Tahnoon bin Zayed controls two sovereign wealth funds with assets totaling $1.4 trillion. Related article: "Binance Receives $2 Billion Institutional Investment, Backed by Abu Dhabi's Second-in-Command"

Wall Street Journal Reports Trump Family Allegedly Seeking Equity Stake in Binance.US in Exchange for Pardon for CZ; CZ Responds: Report is False

On March 13, according to The Wall Street Journal, representatives of the Trump family have been in talks regarding acquiring a financial stake in Binance's U.S. subsidiary, which may involve the Trump family holding shares or transacting through World Liberty Financial. Meanwhile, Binance founder CZ has been urging the Trump administration to pardon him. Last year, Binance contacted Trump allies, proposing a commercial deal with the Trump family as part of a plan to bring back the exiled company to the U.S., leading to negotiations between the two parties. It is currently unclear how the Trump family's stake would materialize if the deal is reached, or if it is contingent on a pardon. Later, Binance founder CZ responded on social media, stating that The Wall Street Journal's report is factually incorrect, as he has never discussed any transaction related to Binance.US with anyone but doesn't mind being pardoned. Related article: "Mix-up Over Binance.US Equity Swap for Pardon, CZ Clarifies Online"

「Hyperliquid 50x Leverage Whale」 Engages in Frequent Operations This Week, Triggering "Forced Liquidation" of 160,000 ETH Leading to HLP's Short-Term Loss of Over $4 Million

This week, the 「Hyperliquid 50x Leverage Whale」 engaged in frequent operations, taking large short or long positions on ETH. On March 12, the whale opened a long position on Ethereum with over 170,000 ETH, subsequently withdrawing most of the principal and profits to compress the liquidation price, resulting in the "forced liquidation" of the remaining long position of over 160,000 ETH, totaling $3.068 billion. The 160,000 ETH long position was liquidated at $1915 and taken over by HLP. Due to the substantial amount, HLP bore the loss incurred during the liquidation due to the price drop. HLP incurred a loss of over $4 million on that day.

Later that day, Hyperliquid stated in a post that regarding the issue of the 「Hyperliquid 50x Leverage Whale」 (user 0xf3f4) ETH long position, it is first clarified that there was no protocol vulnerability or hacking attack. To increase the maintenance margin requirement for large positions, the maximum leverage for BTC and ETH will be adjusted to 40x and 25x, respectively. This adjustment will provide better cushioning for the fallback liquidation of large positions.

On the 13th, Hyperliquid's official announcement indicated that during the network upgrade on March 15, the margin ratio requirement for margin transfers would be adjusted to 20%. "Margin transfer" refers to funds being transferred out of the cross-margin wallet or isolated margin position, including withdrawals, perpetual contract-to-spot transfers, and adding or reducing isolated margin. This adjustment will not affect the opening of new cross-margin positions. It will only impact users when they open new isolated margin positions and the cross-margin leverage exceeds 5x.

On the 14th, according to monitoring, the 「50x Leverage Whale」 profited $16.39 million in the past month on Hyperliquid. Later that day, the whale's LINK long position was liquidated, resulting in a loss of 1.07 million USDC, but still maintained a profit of over $15 million in the past month. Related Readings: "50x Long Position Liquidated After Being Forced Long But Walking Away with $2 Million, How Did the Hyperliquid 'Insider' Achieve It?", "The 'Insider' and Whales' Preferred Opening Position, How Strong Is Hyperliquid's Fundamentals?"

Telegram Founder Pavel Durov Allowed to Leave France, Now Residing in Dubai

On March 15, Telegram founder Pavel Durov, after obtaining approval from a French court, has left France and relocated to Dubai. According to Barron's, on March 13, Durov was reportedly granted permission by a French court to exit the country and head to Dubai—a city known for its business-friendly environment and lack of extradition agreements with many countries. The specific terms of the court's decision are not yet clear, but Durov's relocation has once again sparked debates on jurisdiction, privacy, and the responsibility of tech leaders in combating illegal activities on their platforms. On March 16, the TON Foundation released a statement confirming that Telegram founder Durov has regained his freedom, supporting the defense of online freedom of speech and privacy rights.

Ethereum's Nearly 20% Plunge Breaks Bull Market Trend Line Since 2022 Terra Crash

On March 10, according to Coindesk, Ethereum's price experienced a nearly 20% plunge in the seven days leading up to March 9, marking the largest weekly percentage drop since November 2022. This sell-off breached the bull market trend line that started after the June 2022 Terra algorithmic stablecoin UST crash, which resulted in the loss of wealth for billions of investors. This decisive downturn indicates that Ethereum's nearly three-year bull market trend may have come to an end, shifting focus to deeper losses that could drop to support levels near the September-October 2023 lows, around $1,500.

US States' Bitcoin Strategic Reserve Progress: 6 States Enter Senate Vote, 8 States Under Committee Review

On March 13, according to BlockBeats' data chart statistics, the complete process for US states' Bitcoin strategic reserve is as follows: Public support by legislators - Bill proposal - Committee review - Senate vote - Governor signing the bill. The current progress of US states is as follows: Utah has passed a Bitcoin bill, but the bill does not currently include a strategic Bitcoin reserve; states progressing to Senate vote include Texas, Arizona, Oklahoma, Ohio, New Hampshire; states that have submitted for committee review include Massachusetts, Illinois, New Mexico, Iowa, Michigan, North Carolina, Missouri, Georgia; states with public support by legislators include Florida, Alabama, Kentucky; states where the bill was rejected include North Dakota, South Dakota, Montana, Pennsylvania, Wyoming.

Shenyu: Asset Growth Multiplied Tenfold Since "312," Hoarding Bitcoin as Primary Source of Wealth

On March 12, Cobo co-founder and CEO Shenyu initiated a "312" fifth-anniversary asset scale survey, indicating that the assets have grown tens of times (15 to 100 times) since "312," with hoarding Bitcoin as the largest source of wealth. Bitcoin, which dropped to $3,800 on March 12, 2020, soared to $110,000 five years later, currently priced at $81,700, marking an over 20-fold increase over the five years.

Coinbase to Launch 24/7 Bitcoin and Ethereum Futures Contracts

On March 10, Coinbase announced that its CFTC-regulated futures trading platform, Coinbase Derivatives, LLC, will launch the first batch of 24/7 Bitcoin and Ethereum futures contracts, allowing U.S. traders to manage risk continuously and seize opportunities.

Ethereum Developers Introduce New Testnet Hoodi for Finalizing Pectra Upgrade

On March 14, according to this Thursday's All Devs Call, Ethereum Foundation developers have introduced a new test network called Hoodi, which will test the final deployment of Pectra before activation on the mainnet. This new "long-lived" test network is expected to launch on March 17. Previously, activation of Pectra on the Holesky and Sepolia testnets faced configuration issues, leading to delays in the official release schedule. The Pectra upgrade aims to improve Ethereum's usability and scalability. It includes lowering data availability costs by increasing the number of "blob" transactions on layer 2 networks, significantly raising the staking limit, and introducing account abstraction, greatly expanding the functionality of smart contracts and wallets. Pectra is tentatively scheduled to activate on the Ethereum mainnet as early as April 25, approximately 30 days after the deployment of the new Hoodi test network for the upgrade.

Ethereum Foundation Board Updates Personnel, First Chinese-American Member Hsiao-Wei Wang Joins Board

On March 10, the Ethereum Foundation announced in a blog post new personnel updates, with Hsiao-Wei Wang joining the Ethereum Foundation board. The current board members include Aya Miyaguchi (Executive Director), Vitalik Buterin (Founder), Patrick Storchenegger (Swiss Legal Counsel), and Hsiao-Wei Wang (Co-Executive Director). Related Read: "EF Foundation's Self-Salvation: First Chinese-American Executive Director Appointed, Techno-Bureaucrat on the Rise"

Trump's Crypto Project WLFI Concludes Public Offering, Total Funding Reaches $550 Million

On March 14, as shown on the official website, the Trump family's crypto project World Liberty Financial has completed its entire community public offering funding (with a previous additional round), with a total funding amount of $550 million. Earlier reports indicated that Trump's crypto project WLFI increased its supply by 5%, raising the selling price to $0.05, whereas the previous round was priced at only $0.015.

SBF is Seeking a Trump Pardon

On March 11, according to Fortune magazine, FTX founder SBF is seeking a Trump pardon, with a crypto industry lobbyist stating that the likelihood of SBF being pardoned is increasing as Trump's ties to the industry grow stronger.

Bubblemaps Releases BMT Tokenomics: Total Supply of 1 Billion, Airdrop Percentage at 22.2%; Bubblemaps TGE on Binance Wallet Oversubscribed by 94x

On March 11, Bubblemaps released the BMT tokenomics, with a total supply of 1 billion tokens. The distribution includes Ecosystem and Community at 26.3%, Investors at 24.3%, Airdrop at 22.2%, Liquidity at 12.2%, Team at 9%, and Protocol Development and Research at 6%. BMT is a cross-chain token issued on the BNB Chain and Solana through the LayerZero OFT standard, with current supply distribution as follows: 12% on the BNB Chain and 88% on Solana. On the same day, the Bubblemaps TGE launched on PancakeSwap through Binance Wallet was oversubscribed by 94x, with a subscription cap of 3 BNB and a total deposit of over 140,000 BNB.

Japanese Cabinet Approves Crypto Brokerage and Stablecoin Reform Proposal, Submitted to Parliament

On March 10, the Japanese Cabinet approved a proposal to reform laws related to crypto brokerage and stablecoins. As per the announcement by the Japanese Financial Services Agency (FSA), the government approved a Cabinet resolution to amend the Payment Services Act. This legislation will allow crypto companies to operate as "intermediaries." This means that brokers will no longer need to apply for the same type of license as cryptocurrency exchanges and wallet operators. The proposal also provides more flexibility for stablecoin issuers in terms of the asset types that back their tokens. Historically, no crypto-related legal changes submitted after receiving Cabinet approval have been rejected by the Japanese parliament. Similarly, the Cabinet has never rejected any legal change proposals related to Japan's crypto regulations put forth by the FSA. The FSA holds a certain degree of "full handling authority" in Japan's crypto regulatory affairs.

OKX Clarifies: Web3 Wallet Service Not Under EU Regulatory Investigation

On March 11, OKX responded on social media regarding its Web3 service being under scrutiny by EU regulatory authorities, stating, "The Bloomberg article is misleading. Like all other major cryptocurrency exchanges, OKX offers self-custody wallet services/exchange functions, acting as an aggregator for users' efficiency. When Bybit was attacked by hackers, we took two approaches: we froze funds related to the CEX; we developed a new feature to detect and prevent hacker addresses from using our DEX or wallet services. Bybit's statement spread misinformation in the media. OKX clarifies with the community: OKX was not under investigation; our Web3 wallet service is no different from the services offered by other industry participants."

Earlier reports indicate that, according to Bloomberg, insiders say the European cryptocurrency watchdog is reviewing the use of a service provided by the OKX cryptocurrency exchange. Hackers used this service to launder $1.5 billion stolen from the Bybit exchange. These insiders requested anonymity as the review process is confidential. They stated that national regulators from the 27 EU member states discussed this issue on March 6 at a meeting hosted by the Digital Finance Task Force at the European Securities and Markets Authority. OKX is regulated under the EU's new "Crypto Assets Market Regulations."

Farcaster Founder: Will Collaborate with Ecosystem Projects to Airdrop to Users, First Airdrop Next Week

On March 14, Farcaster founder Dan Romero posted on social media that Farcaster will collaborate with developers/projects interested in airdropping to users. Users who join will perform required actions (using the framework, participating in channels, etc.) to build a good user reputation and potentially receive airdrops in the future. Ultimately, developers can decide on target users (data is permissionless). The first airdrop will take place next week. Dan Romero added that it should be clear that the airdrop comes from a framework built by ecosystem developers (not Farcaster). Related reading: "Farcaster Finally Airdropping? Includes Rules Interpretation"

This Week's Popular Meme: Grok's Proposed First Token DRB Market Cap Breaks $40 Million; BSC Ecosystem Meme Coin mubarak Market Cap Surpasses $52 Million; Kanye West Retweeting Meme Surges Over 25x

On March 12, Grok's proposed first token DRB "DebtReliefBot" broke a market cap of $40 million, reaching a new all-time high. The DRB token was jointly created by AI agents Bankr and Grok through an "agent-to-agent" mechanism, with Grok conceptualizing the token's name. Related reading: "Grok 'Scam-issued' $DRB Market Cap Exceeds $40 Million, Is BaseAI Narrative Resurfacing?"

On March 15, the BSC ecosystem meme coin mubarak briefly exceeded a $52 million market cap. The 24-hour trading volume reached $46.9 million. Simultaneously, Binance Alpha has listed mubarak.

On the same day, renowned rapper Kanye West retweeted a tweet about the Meme coin CA on social media. The Meme coin, named Swasticoin (YZY), saw its market value briefly "spike" to $180 million before falling back.

Solana's "Inflation Rate Adjustment Proposal" SIMD-0228 Fails to Pass; Another Proposal, SIMD-0123, Successfully Passes

On March 14th, data shows that with the end of Epoch 755, Solana's community proposal to reduce SOL staking inflation, SIMD-0228, concluded its vote. The proposal received 43.6% yes votes, 27.4% no votes, and 3.3% abstain votes, failing to pass (total voter turnout 74%). Reportedly, the SIMD-0228 proposal aimed to make a significant adjustment to Solana's token issuance model. Specifically, the proposal sought to transition SOL token's inflation model from the current fixed rate to a dynamic market mechanism linked to staking participation rate. This proposal aims to optimize Solana's monetary policy by dynamically adjusting the inflation rate based on SOL's staking ratio to enhance the network's economic flexibility and efficiency.

On the same day, the Solana SIMD-0123 proposal passed smoothly through the community vote. The proposal received 42.3% yes votes, 14.2% no votes, and 0.7% abstain votes, with a total voter turnout of 56.9%. SIMD-0123 will introduce an in-protocol mechanism to allocate Solana's priority fee to validator stakers. Traders can pay additional fees to expedite transaction processing, with the priority fee representing 40% of the network revenue, but currently, validators do not need to share this with stakers. This proposal, voted on March 6th, will increase staking rewards, prevent off-chain transaction protocols, and strengthen on-chain execution. Read more: "Solana's SIMD-0228 Proposal Did Not Pass the Vote, Who Is Opposing Multicoin?"

pump.fun Application Adds Chat Functionality

On March 14th, pump.fun tweeted that its mobile application has added a chat function. Users can send private messages, create group chats, and seamlessly share specific token information. Read more: "Experience Pump.fun's New DM Feature, Can Social Skills Drive the 'Meme Market' Recovery?"

El Salvador and Paraguay Sign Cryptocurrency Regulation Agreement

On March 11, Paraguay's Secretariat for the Prevention of Money Laundering (SEPRELAD) and El Salvador's National Digital Assets Commission (CNAD) signed a memorandum of understanding last Friday. This is the second such agreement signed in the past three months, following El Salvador's similar regulatory cooperation with the Argentine National Securities Commission (CNV) in December last year. According to SEPRELAD's statement, the two parties will collaborate to combat unlicensed cryptocurrency operations and strengthen anti-money laundering measures.

China Banknote Printing and Minting Corporation: Never Sold Virtual Currency Through Any Means

On March 13, the China Banknote Printing and Minting Corporation issued a statement on March 13 stating, "Recently, our company has received reports from the public that some criminals are impersonating our company to sell virtual currency on websites and apps. We solemnly declare here that our company has never sold virtual currency through any means. We advise the general public to beware of falling victim to scams and avoid financial losses."

Base Network Sees Record High Contract Deployments Last Week

On March 14, Token Terminal revealed data on the X platform stating that the Base Network deployed 11.4 million contracts last week, setting a new record high. Related read: "Base AI's Coin Issuance Heat Rises Again, What's Being Hyped These Days?"

Top Articles of the Week

"A Man Named threadguy Has Disappeared"

During threadguy's more than 20-day absence, there are still many people on X discussing when he will return. He once spent $25,000 to attend a Trump dinner and asked Trump about his views on the future of cryptocurrency. As a crypto KOL, threadguy started writing in-depth analyses during the early stages of NFTs in 2021, gradually building his personal brand. Later, he shifted to hosting Twitter Spaces and podcasts, with guests including NFT creators, artists, musicians, and more. His traffic peaked in 2024 with an interview with Andrew Tate, but controversies and declining traffic led him into a trough. Eventually, he turned to Twitch live streaming to discuss topics such as crypto and meme coins. However, last month, he was caught up in the storm of the LIBRA token harvest and disappeared from the public eye. Nevertheless, more and more post-00s individuals like threadguy are entering the crypto world, leaving their stories in this market in their own unique ways.

"Cryptocurrency, the Ongoing Dissolution of Cyber Religion?"

The current cryptocurrency community is in a stage of fading faith. The innovative narratives that once drove the industry's development, such as NFTs, the metaverse, DAOs, etc., are now seen as bubbles or scams. The market is gradually shifting from pursuing ideals to purely seeking profits. While Bitcoin has reached a new all-time high, most of the funds are flowing into traditional financial channels rather than the on-chain ecosystem, leading to a lack of new growth momentum within the crypto community, creating a "fake bull market" PvP situation. In this environment, exchanges, market makers, and KOLs control the market, meme coins have become speculative targets, and Solana has turned into a "crypto casino." The once faith-driven crypto world now only retains the belief in making money.

"Binance Welcomes $2 Billion Institutional Investment, Backed by Abu Dhabi's Second-Ranking Figure"

Binance has received a $2 billion investment from the Abu Dhabi-based investment firm MGX, marking the largest institutional investment in the history of the crypto industry. Behind this funding is the UAE National Security Advisor and Abu Dhabi's Crown Prince Tahnoun bin Zayed Al Nahyan, who controls multiple sovereign wealth funds and has investments in AI, finance, crypto, and other fields. Binance's move is not just financing but also deeply tying itself to Middle Eastern capital, seeking a safe haven amid tightening global regulations. Abu Dhabi is accelerating its transformation into a global crypto financial center, while Binance is reshaping its market positioning in response and breaking free from regulatory constraints in Europe and the US.

"'312' Fifth Anniversary, Revering the Market, Forever and Ever"

In March 2025, the market sentiment is gloomy, even worse than the series of collapses at the beginning of 2023. Despite the US president showing "favor" towards Bitcoin, actual actions do not match the promises. Instead of acquiring Bitcoin reserves, the US has issued its own digital currency, drawing liquidity out of the market. Within 7 weeks of Trump taking office, the crypto market evaporated $1 trillion, with $20 billion and 700,000 people liquidated within 24 hours, setting new historical records. Looking back at the market crash on March 12, 2020, Bitcoin plummeted nearly 50% within 24 hours, with $29.3 billion in liquidations across the network. BitMEX even halted trading to prevent prices from going to zero. On a macro level, the global financial markets are in turmoil, with US stocks, oil, and other assets suffering heavy losses. The "312" event has become a wake-up call for the market, reminding investors, whether in a bull or bear market, to respect the market, manage risks, and ensure the safety of their principal.

"50x Leverage Contract Trading Earns Millions in a Day: Why Are Whales Choosing to Open Positions on Hyperliquid?"

Through its fully on-chain Central Limit Order Book (CLOB) and high-performance Layer-1 blockchain, Hyperliquid has successfully captured a dominant position in the on-chain perpetual contract market, overcoming the liquidity and user experience bottlenecks of traditional DEXs. Its success is not only based on innovative technology and optimized trading experience but also reflected in its user-driven token distribution and community feedback mechanism, ensuring long-term alignment of user and protocol interests. Through risk-free self-funding, a decentralized path, and efficient market promotion, Hyperliquid has gradually established a high-performance decentralized trading platform, aiming to become the "Binance on-chain."

"Whale Goes Long on 50x Leverage But Makes Off with $2 Million: How Did the Hyperliquid 'Insider Brother' Do It?"

The HyperLiquid platform suffered a loss of over $4 million due to the operation of a whale "insider brother." The insider brother went long on ETH and BTC with high leverage, realized gains in the contract, and as a result of the position not being closed, was liquidated, with the HyperLiquid platform's liquidation fund (HLP) taking over the process. Due to the significant amount involved, the HLP bore the losses of the platform. This event highlights the liquidity risks in DeFi projects, especially when there are no strict controls on leverage and profit extraction, exposing vulnerabilities in platform management and mechanisms, and reminding investors to act cautiously in high-risk environments.

"US Holds Only 90,000 Bitcoins in Reserves? Analysis: 108,000 BTC to Be Returned to Bitfinex Victims"

Trump signed an executive order formally establishing a Bitcoin Strategic Reserve, sourcing bitcoins seized by the federal government through criminal or civil proceedings. According to data, the US currently holds about 198,109 bitcoins, of which about 112,000 will be returned to Bitfinex, and the remaining approximately 86,000 can be used as reserves. The executive order stipulates that government digital assets cannot be sold arbitrarily, but can be returned to victims or used for law enforcement actions in specific cases. The Coinbase CEO anticipates that G20 countries will follow the US's lead and launch similar Bitcoin asset reserve plans.

"Insider of Market Maker Reveals: Industry Is Wild, 'Order Book' Spread and Options Are the Main Profit Methods"

This article discusses the role and business model of market makers in the cryptocurrency industry, and the author shares their experience and insights. The core work of a market maker is to provide bid and ask quotes on the exchange's order book, maintain market liquidity, and help project teams stabilize token prices. The article emphasizes the difference between active market makers and passive market makers, especially how passive market makers provide liquidity through borrowing or a subscription model, earning spreads and service fees. The author also points out that there are some unscrupulous market makers in the industry who profit through unethical means, causing losses to project teams and retail investors.

"Analysis and Opinion: Will the Crypto Market Still Have a Bull Market in 2025?"

Currently, the market is in the "wealth destruction phase" of the cryptocurrency cycle. Despite many seemingly bullish factors, overall market sentiment remains low. As the prices of mainstream crypto assets such as Bitcoin fluctuate, speculative sentiment weakens, and the market faces liquidation, panic, and the emergence of bad actors. Additionally, despite signs of global liquidity growth, the overall economy is declining, and the cryptocurrency industry has not been able to gain support from these macro changes. Overall, a short-term rebound may face significant selling pressure, and the recovery of the bull market remains uncertain.

"Why Did the Crypto Market Lose $900 Billion While Stablecoin Market Cap Hit a Historic High?"

Since Trump took office, the total market capitalization of the cryptocurrency market has dropped by nearly $900 billion, but the market cap of stablecoins has grown against the trend, surpassing $227 billion to hit a historic high. The growth of the stablecoin market has benefited from the upcoming favorable regulatory environment and the role of stablecoins in consolidating the global dominance of the dollar. The U.S. government is driving stablecoin policies, pushing for the enactment of bills, and emphasizing its support for U.S. bond demand. Multiple countries and traditional financial institutions are also accelerating their stablecoin layout to cope with the reshaping of the cross-border payment market. Stablecoins are gradually transitioning from speculative tools to broader payment and fund transfer tools.

"USDC Swapped for USDT Resulting in a $215,000 Loss, How Does MEV Attack Stablecoin Transactions?"

This article reports on a sandwich attack incident that occurred in a cryptocurrency transaction, where a trader lost over $215,000 while exchanging stablecoins. The article provides a detailed description of the attack process, including how MEV bots profited through front-running transactions, and discusses potential money laundering activities. Additionally, the article mentions the protective measures taken by the Uniswap platform to prevent such attacks and clarifies the initial criticisms.

"The Trend of Stocks Going On-chain Has Emerged, A Quick Look at 5 Arbitrage Opportunities Under 'CoinStock Parallelism'"

On March 6, rumors circulated in the market that Coinbase was considering restarting its stock COIN and other security tokenization plans. In 2020, Coinbase made an initial attempt at this but abandoned it due to regulatory obstacles. With the SEC establishing a new cryptocurrency working group, Coinbase seems to see an opportunity to restart this plan. Just two days later, the RWA project Backed announced on March 8 that they had launched a Coinbase stock derivative token wbCOIN on the Base network, backed 1:1 by COIN stock. Although Backed stated that this move was unrelated to Coinbase, the swift action raises speculation. This article analyzes multiple arbitrage opportunities that may exist between the two markets under the 'CoinStock Parallelism' model, including price arbitrage and liquidity spread arbitrage.

"Grok 'Scammed Issuance' $DRB Market Cap Exceeds $40 Million, Is BaseAI's Narrative Making a Comeback?"

Since the success of $GOAT, Degens have been trying to guide Grok in issuing cryptocurrency, but most tokens have ended in failure. The birth of $DRB is different as it broke through a $40 million market cap on the Base platform, becoming Grok's first truly issued token. Through the Bankr platform, any X user can directly create and manage tokens, and Grok unintentionally "participated" in the generation of $DRB. Although Grok denies creating the token, the address still received profits. Subsequently, Grok lost a significant amount of money due to being scammed, but their wallet still recovered value. The success of $DRB has brought new attention to Base and reignited the potential of combining AI with cryptocurrency.

"Farcaster Finally Airdropping? Rule Interpretation Included"

The Farcaster team has announced the launch of an experimental airdrop plan designed to help developers reach active users through airdrops. Users can choose to participate in the airdrop and complete specific actions as requested by developers to enhance their reputation and increase future airdrop opportunities. Users with higher activity levels are more likely to be selected, while those who fail to comply with the requirements may lose eligibility for future airdrops. Developers are free to set airdrop targets, and the plan is voluntary, aiming to promote platform activity and increase wallet usage. The Farcaster team hopes that this mechanism will drive the enrichment of platform content and encourage more users to participate in the ecosystem.

"Still Using Old-Fashioned DeFi Lending? Wake Up, 3Jane Has Unfolded"

3Jane has disrupted the traditional high-collateral lending restrictions in the DeFi field by introducing a credit lending model, using on-chain and off-chain data to evaluate user credit and provide collateral-free loans. Unlike traditional DeFi platforms, 3Jane employs a multi-dimensional credit assessment mechanism that includes on-chain assets, bank deposits, credit scores, and more to ensure that loans are granted to trustworthy users, preventing borrowers from absconding. Its technical architecture includes zero-knowledge technology and smart contracts to ensure flexible risk control and repayment mechanisms. Although 3Jane is in its early stages, its innovative model demonstrates the potential to reshape the DeFi lending ecosystem.

"Behind Binance's New Coin Price Dump: The Complete Operation Chain of a Coin Circle 'Harvester'

The collapse of the GPS and SHELL cryptographic tokens revealed the dark side of market manipulation. A market maker manipulated token prices through one-sided selling, causing a market crash and making a profit of $5 million. Upon deeper investigation, it was found that two companies, Web3Port and Whisper, operated this event through a complete arbitrage chain. Web3Port provided free tokens in exchange for services and then cashed out the tokens through Whisper, resulting in losses for retail investors. This event exposed deep-rooted issues in the crypto market interest chain, particularly the complex relationships among project teams, market makers, exchanges, and VCs.

"Top VC Firm Invests $28 Million to Back New Project Double Zero by Former Solana Foundation Core Member"

The DoubleZero Foundation has received a $28 million investment with backing from Dragonfly and Multicoin Capital. The project focuses on the DePIN field, allowing users to contribute permissionless fiber optic links to drive the development of Web3 infrastructure. Its unique "dual-ring architecture" optimizes blockchain performance by filtering out spam transactions through hardware and using dedicated bandwidth to improve communication efficiency, reducing latency and congestion. Founder Austin Federa, a key figure in the Solana Foundation, leads the project leveraging Solana's ecosystem resources, aiming to provide better bandwidth and low-latency services for high-performance blockchains.

"GMGN Co-founder Guides You on How to Become a Qualified P Soldier"

GMGN co-founder Haze points out in this article that the success of on-chain transactions is influenced by multiple factors, including Gas fees, slippage, and MEV sandwich attacks. Gas fees determine the transaction's priority, with higher Gas leading to easier transaction packaging. Slippage refers to the deviation between the actual execution price and the expected price, caused by factors such as insufficient market liquidity, trade delays, and bot attacks. MEV sandwich attacks manipulate prices through front-running and back-running transactions, causing users to trade at unfavorable prices. To avoid sandwich attacks, users can enable MEV protection, adjust gas fees, and properly set slippage range and transaction amounts to avoid excessive impact on liquidity pools.

"Altcoin ETF Battle Begins - Who Will Be the First to Get Approved?"

Following the approval of Bitcoin and Ethereum ETFs, multiple financial institutions plan to launch various types of cryptocurrency ETFs, including Dogecoin, Solana, XRP, and TRUMP coin. Traditional financial giants like Franklin Templeton have also entered this field, submitting applications for an XRP spot ETF. Solana and Dogecoin ETFs are expected to be approved around 2026, potentially attracting significant investment funds. Despite facing regulatory challenges, analysts believe there is a higher likelihood of a Litecoin ETF approval, while ETFs for TRUMP and BONK coins are also in the application process.

"A Look at Five Latest Cryptocurrency Projects Incubated by Y Combinator"

Against the backdrop of a turbulent cryptocurrency market downturn, several noteworthy new projects have emerged in the stablecoin and cross-border payment space. In Y Combinator's latest W25 cohort, four startups related to payments or stablecoins were featured. BlindPay provides a global stablecoin payment interface to help enterprises address compliance issues; Infinite offers a low-cost global instant payment solution; Karsa is a stablecoin digital bank targeting emerging markets, providing stablecoin deposit and spending services; PAX Markets is the world's first encrypted trading platform with a single-chip architecture, boasting extremely fast transaction speeds.

"The Rise and Fall of TON: A Narrative of VC, Exchange Platform, and Traffic Frenzy"

The plight of Yescoin and the ups and downs of the TON ecosystem reflect a similar story. TON initially rose rapidly in the Web3 world with the support of VCs, promotion by exchange platforms, and Telegram's massive user base, attracting numerous users and investments. However, as market enthusiasm waned, the airdrop effect diminished, users grew weary, coin prices fell, and capital began to retreat, causing a sharp devaluation of the TON ecosystem. Although TON's story is not yet fully concluded, it exposes the vulnerability of capital manipulation, traffic magic, and market bubbles.

"Frame-by-Frame Analysis of the White House Cryptocurrency Summit: What Market Overlooked Narratives Were There?"

Hosted by Donald Trump, the cryptocurrency summit marked the United States' leadership in the digital finance space. The summit discussed cryptocurrency regulation and policies, with the government emphasizing the importance of Bitcoin as a strategic asset and announcing the establishment of a Bitcoin reserve. Despite the introduction of a long-term regulatory strategy, the market expressed disappointment over the lack of clear regulatory measures and the uncertainty surrounding meme coins.

"The Finishing Touch of the Sonic Ecosystem, What is the FlyingTulip created by AC?"

FlyingTulip is an innovative DeFi integration platform aimed at addressing the liquidity fragmentation issue in existing DEXs, providing various functions such as trading, liquidity pools, and lending. It adopts an adaptive curve AMM that automatically adjusts liquidity distribution based on market fluctuations, allowing liquidity providers to achieve optimal returns without complex settings and reduce impermanent loss. Furthermore, the platform has created a dynamically adjusting LTV lending model that adjusts lending limits based on market depth and volatility to reduce risk. FlyingTulip aims to attract more Web2 users to the decentralized finance market through a simple and intuitive DeFi experience, but its success also depends on the stability of oracles and Andre Cronje's ecosystem split on Sonic.

"Solana SIMD-0228 Proposal Vote Did Not Pass, Who Was Opposing Multicoin?"

The Solana community's SIMD-0228 proposal did not pass as it failed to secure the required two-thirds majority vote. The proposal aimed to adjust SOL's inflation model by dynamically adjusting the supply to reduce inflation, enhance network security, and decentralization. Supporters believed the proposal could increase SOL's scarcity and network value, while opponents were concerned it might compromise decentralization and consolidate power among large players. The voting results revealed the conflicting interests between large and small validators and demonstrated the Solana community's strong focus and intense discussion on the future direction.

"Is the US Intentionally 'Wanting' an Economic Recession?"

The US faces significant debt refinancing pressure, with an estimated $92 trillion in debt maturing by 2025. To tackle this challenge and quickly lower interest rates, the fastest way might be to trigger an economic recession. The US's economic growth expectations have plummeted due to trade wars and falling oil prices, while the possibility of rate cuts is on the rise. Although President Trump claims not to care about the stock market, his policy signals indicate a willingness to take steps to lower interest rates, even if it could lead to a recession. The US's high debt levels and rising interest costs have exacerbated the urgency of rate cuts, making an economic recession potentially the only solution.

"Has the Cryptocurrency Speculative Bubble Burst? A First Principles Examination of Crypto Investment"

The author believes that the biggest problem in the crypto field is not talent or capital, but the lack of first principles thinking, leading the industry into a cycle of short-termism, extractive culture, and low trust. The author analyzes the reasons why compounding builders are hard to come by, proposes the need for top-down promotion of long-term thinking and a focus on building revenue-generating products, criticizes the inefficiency of general-purpose Layer 1 blockchains, suggests focusing on specific areas and building ecosystems to give tokens value. Furthermore, the author emphasizes that liquidity token projects should establish investor relations roles to enhance transparency, rather than relying solely on buybacks and burns, advocates for using funds to expand products and consolidate long-term competitive advantages to break the current nihilism trap and achieve sustainable growth.

"Macro Cycle Peak, Are You Ready for a Potentially Decade-Long Bear Market?"

This article reviews the period from the outbreak of World War II in 1939 to the re-election of Trump in 2024, during which the U.S.-led global economy experienced a supercycle primarily driven by one-time events such as the rise of the U.S. as a superpower post-World War II, the entry of women and minorities into the labor force, and the Cold War victory. However, the author believes that this feast has ended due to deglobalization trends, non-repeatable labor force expansion, and difficulty in further reducing interest rates. The future will face financial asset deleveraging, capital controls, and fiscal repression, making it hard for traditional markets to replicate past glory. Gold and Bitcoin, as uncontrollable non-traditional assets, will become safe haven choices, especially with Bitcoin potentially rising in smaller countries due to its digital advantages, eventually reaching a million-dollar valuation, but first, it must undergo a bear market test.

"Early Prediction of a Major Drop? Stock God Buffett's Credibility Is Still Rising"

Warren Buffett has once again proven the wisdom of long-term investing through his investment strategy. During market crashes, he insists on selling stocks and accumulating cash to prepare for a possible economic recession. Despite market fluctuations, Buffett always believes that market downturns conceal opportunities. By patiently waiting and buying undervalued assets during market declines, he ultimately reaps generous returns. His investment philosophy emphasizes staying calm when panic spreads and seizing undervalued opportunities.

"Narrative Fizzling Out, In-Depth Analysis of Dogecoin DOGE's Final Battle"

Dogecoin ($DOGE) saw a surge in late 2024 driven by the U.S. election and the Musk effect but then experienced a pullback, indicating that short-term momentum is driven by market sentiment. On the institutional investment front, Grayscale launched a Dogecoin Trust Fund, and Bitwise applied for a $DOGE ETF, hinting at the coin's potential transition from a meme coin to institutional investment. Moreover, Musk's support and X Platform payment integration could serve as long-term growth catalysts for Dogecoin. Although the current price is highly volatile, future development will depend on factors such as payment applications, institutional investment, and on-chain trends.

"The Crypto Life of Cardano's Founder: A Veteran 'Ethereum Killer'"

Charles Hoskinson is a well-known figure in the cryptocurrency field, having been an early advocate for Bitcoin, a founding member of Ethereum, and the founder of Cardano. His career spans not only blockchain technology but also extends to fields such as extraterrestrial life exploration, agriculture, and healthcare. While Cardano may not be as active in the market as its competitors, its technology and funding model still attract attention. In recent years, Hoskinson has ventured into politics, supporting Trump and participating in cryptocurrency industry regulation. Additionally, despite facing scrutiny and controversy due to his personal background, his achievements and diversified investments have left a strong mark on the crypto world.

"EF Foundation's Self-Rescue: First Chinese-Descent Executive Director Appointed, Techno-Bureaucrats on the Rise"

Hsiao-Wei Wang has been promoted to the Ethereum Foundation's board of directors, becoming the first Chinese-descent leader to rise from a technical grassroots position. From an early core researcher to an Asia-Pacific community ambassador and now an executive director, she has driven Ethereum's technical expansion and community development. The sharding and merge projects she leads are seen as significant achievements for Ethereum's development, especially showcasing the new role of techno-bureaucrats in addressing challenges such as Layer 2 ecosystem fragmentation and governance trust crises. Her proposed technical and governance innovations, such as the dynamic sell-off mechanism and Layer 2 revenue sharing scheme, aim to tackle Ethereum's economic and ecological issues, providing new impetus for its future upgrades.

"Recent Revenue Overview of Seven Major DEXs: Who Is Rising Against the Trend?"

Over the past week, the survival status of decentralized exchanges (DEXs) has received widespread attention, with most platforms experiencing a significant drop in revenue. Hyperliquid saw a sharp decline in income due to a whale arbitrage event affecting liquidity, while GMGN faced a revenue plunge from user attrition and intensified market competition. Mainstream DEXs such as Jupiter and PancakeSwap continue to maintain high activity levels and stable revenue, while Raydium and Shadow Exchange experienced a significant drop in earnings. Overall, DEXs are facing the three major challenges of maintaining activity, optimizing liquidity, and achieving sustainable revenue. The future competition will revolve not only around transaction volume but also a comprehensive struggle involving liquidity, risk management, and ecosystem layout.

"2024 Public Chain RWA Annual Report: Market Deconstruction and Paradigm Shift"

In 2024, the tokenization of Real-World Assets (RWA) experienced explosive growth, driven by institutional investment, technological breakthroughs, and regulatory clarity, leading to the gradual emergence of a new financial paradigm. The differential growth rates of asset classes such as U.S. Treasury bonds and private credit reflect the market's liquidity and diversity of risk preferences. Simultaneously, technological advancements and support from public chain infrastructure have paved the way for the scaled application of RWA. However, structural issues such as liquidity stratification and yield risk mismatch still need attention, especially in the real estate tokenization field. As the market size expands and technological innovation drives forward, the industry is moving towards a more mature and diversified direction.

"Speechless, Getting Banned from Coinbase for On-Chain Transfer?"

Ethereum core developer Eric Conner publicly criticized Coinbase for locking his account, expressing frustration with the platform's overreliance on risk control systems, resulting in innocent users being restricted. His account was locked due to unsuccessful verification and a password reset request, attracting attention from the crypto community. Coinbase's aggressive security policies have previously sparked controversies. Due to excessive dependence on automated risk control systems and a lack of transparency, users are often left in difficult situations. Meanwhile, security vulnerabilities in third-party services could also become weak links for the platform, affecting overall security. Exchanges need to strike a balance in risk control, transparency, and customer support to enhance user trust.

"Crypto Market from the First-Person View of VC in the East and the West: Narrating for the Sake of Narrating, Utterly Boring"

Recently, the market sentiment has been subdued, with Asian VCs adopting a conservative investment strategy, many of them refraining from making moves for months. In contrast, VCs in Europe and the U.S. remain active and continue to invest heavily. The differences between the two may be related to their investment philosophies, exit timelines, and focus on short-term returns. The current crypto market seems to have reached a stage where it is touching the "low-hanging fruit," with innovation in the financial sector becoming saturated. The future may witness a new trend of modularization and cross-disciplinary integration, especially in the combination of blockchain and AI technologies. Future projects will likely focus more on solving real-world issues rather than merely existing for the sake of crypto or AI. This could also be the direction of future investments.

"Experience Pump.fun's New DM Feature: Can Social Ingenuity Revive the 'Meme Coin Market'?"

Pump.fun has recently introduced a new Direct Message (DM) feature, signaling its transition from a singular token issuance platform to a social platform. Users can now engage in private chats or group conversations via DM, where they can share token links, investment insights, and more to increase token exposure and promotional effectiveness. This move makes token dissemination more organic and efficient, while also expanding the platform's social interaction possibilities. With the enhancement of social features, Pump.fun may collaborate with other projects to drive the diversification of the Solana ecosystem, albeit facing challenges in improving privacy and security.

"Even Retail Investors Can Now Co-invest in Coinbase Ventures' Projects? Learn How to Seize the 'Coinbase 100x Public Sale' Opportunity Through Echo."

Coinbase has announced a partnership with Echo to launch an investment model based on community participation, aimed at fostering the development of projects within the Base ecosystem. Founded by crypto influencer Cobie, Echo leverages a lead investment referral mechanism to attract investors to high-potential projects. The Echo platform has successfully raised over $100 million in funding and attracted participation from various renowned projects. Coinbase's collaboration will further open up this investment model, expected to draw more investors. The Echo-Base partnership may offer a broader funding channel for crypto industry builders, facilitating the emergence of more innovative projects. Additionally, several promising projects such as Sapien, HeyElsa, and Conduit are currently growing within the Base ecosystem.

"$5 Billion Airdrop Feast: Why Has the U.S. Become an 'Outsider'?"

The U.S. cryptocurrency airdrop market is restricted by policies, resulting in a large number of U.S. users being unable to participate and missing out on significant economic benefits. In 2024, approximately 920,000 to 5.2 million U.S. users were geo-blocked from participating in airdrops, leading to income losses ranging from $18.4 billion to $26.4 billion. Furthermore, the U.S. has missed out on significant tax revenues due to crypto companies relocating, including $418 million to $1.1 billion in federal taxes and $107 million to $284 million in state taxes. The report also analyzes the U.S.'s complex regulatory environment and recommends driving innovation and equitable development in the crypto market through the establishment of clear rules.

"Q1 2025 AI Agent Market Overview: What New Developments Have Various Agents Made?"

In the first quarter of 2025, Web3 AI agents experienced price fluctuations, but innovation continued to accelerate. The market's focus shifted to projects addressing real-world issues, building valuable products, attracting users, and generating revenue. Major platforms such as Virtuals, ElizaOS, and Arc have been advancing the application of AI agent technology, while players like Clanker and Cod3x have been actively participating in the competition by optimizing user experience and product functionality.

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