Community News:

1. The relationship between the cryptocurrency market and Nasdaq turns positive before the release of US CPI

Before the release of the US CPI, the relationship between the cryptocurrency market and Nasdaq turned positive, and the 90-day correlation coefficient between the total market value of the crypto market and Nasdaq rose from -0.12 to 0.74 in 4 weeks, reaching the highest level since early November. (CoinDesk)

Industry News:

1. CZ: Paxos has guaranteed the security of funds and continues to review other projects to ensure user safety

Changpeng Zhao (CZ), founder and CEO of Binance, responded on Twitter to the SEC’s lawsuit against BUSD issuer Paxos, saying, “Paxos will continue to provide product services and manage redemption functions. Paxos also assured Binance that the funds are safe.”

2. Paxos: BUSD is fully backed by reserves, and users can redeem BUSD at least until February 2024

Paxos announced that it will terminate its partnership with Binance on BUSD and stop issuing new BUSD from February 21. Paxos said that BUSD is currently fully backed by reserves, and users can redeem BUSD or convert BUSD to USDP at least until February 2024. (PR Newswire)

Policies and Regulations:
1. UAE Central Bank to issue CBDC as part of its financial transformation plan

The Central Bank of the United Arab Emirates (CBUAE) plans to launch a central bank digital currency (CBDC) for cross-border and domestic use as part of its first Financial Infrastructure Transformation (FIT) program. (Cointelegraph)

2. The new EU draft law stipulates that EU banks must apply the maximum possible risk weight to crypto assets

European Union banks must apply the maximum possible risk weights to crypto assets, according to a draft law published by the European Parliament on Friday. The planned rules could determine how the traditional financial sector can participate in digital assets. (CoinDesk)