News

According to BlockBeats, data from DefiLlama reveals that PancakeSwap recorded a trading volume of $2.525 billion over the past 24 hours, making it the leading decentralized exchange (DEX) in terms of transaction volume. In comparison, Uniswap's trading volume during the same period was $1.31 billion.

According to BlockBeats, the Trump family's cryptocurrency initiative, World Liberty Financial, has successfully concluded its community public offering, raising a total of $550 million. This follows an additional funding round that was previously conducted.

According to Odaily, Tether has frozen $11 million USDT linked to a TRON address, THsPNvWc47swNQp2GmAoH96KtYfSR4bz9F, due to suspected phishing activities. Additionally, a UniswapV2Pair contract address (0x652d…89E) has also been frozen, involving 442,400 USDT.

According to Odaily, Token Terminal shared data on the X platform revealing that the Base ecosystem reached a new milestone in contract deployments over the past week, with 11.4 million contracts deployed.

According to Foresight News, on this day in 2022, Do Kwon engaged in a million-dollar wager with crypto influencer Sensei Algod regarding the future value of LUNA. The bet centered on whether LUNA would surpass $88 within a year. Cobie was invited to act as a witness to the agreement.

According to PANews, a recent survey conducted by Grayscale Investments and Harris Poll indicates that 26% of American high net worth individuals, defined as those with over $1 million in investable assets, hold cryptocurrency. This figure surpasses the national average of 20%. Furthermore, 38% of these affluent investors anticipate incorporating crypto assets into their future portfolios, with 53% of those under 50 years old and 22% of those over 50 expressing this expectation.The survey highlights that high net worth investors are increasingly influenced by factors such as the approval of spot Bitcoin ETFs, inflation, and geopolitical events, leading to heightened interest in the crypto market. Notably, 36% of these investors are closely monitoring Bitcoin. Additionally, 42% of high net worth individuals have acquired crypto assets based on recommendations from financial advisors, significantly higher than the 27% of average investors who have done the same.Moreover, the survey reveals that 43% of investors over 50 and 48% of those under 50 are waiting for clearer regulatory policies before further engaging in the crypto market.

According to ShibDaily, the U.S. House of Representatives has voted to repeal the IRS DeFi broker rule, a regulation that would have required decentralized finance (DeFi) platforms to report user transactions to the Internal Revenue Service (IRS). The House approved the measure with a 292-132 vote, showcasing bipartisan support for overturning the rule. While opposition primarily came from Democratic lawmakers, 76 Democrats joined Republicans in favor of the repeal. This decision follows the U.S. Senate's approval of the repeal on March 4, with a 70-27 vote, indicating widespread bipartisan agreement. The IRS DeFi broker rule, if implemented, would mandate DeFi platforms, including decentralized exchanges, to report gross proceeds from cryptocurrency sales and provide taxpayer information related to these transactions. Critics argue that the decentralized nature of these platforms makes compliance with such reporting requirements challenging. Republican Representative Mike Carey, who submitted the repeal motion, stated that the rule invades the privacy of millions of Americans and hinders the development of the DeFi industry in the United States. House Financial Services Committee Chairman French Hill also praised the repeal, asserting that the IRS rule was detrimental to innovation within the digital asset industry. Hill described the rule as government overreach that could push American digital asset development overseas. The resolution must undergo another vote in the Senate before reaching U.S. President Donald Trump, who has indicated his approval of the repeal. This effort highlights the ongoing debate over how to regulate the digital asset industry effectively without stifling its growth or compromising user privacy. As the industry continues to evolve, policymakers are tasked with finding a balance between regulatory oversight and fostering innovation. The repeal of the IRS DeFi broker rule underscores the challenges faced by lawmakers in navigating the complexities of digital asset regulation.

According to Foresight News, on this day in 2023, the decentralized finance (DeFi) lending protocol Euler Finance experienced a significant security breach. The attack resulted in a loss of approximately $197 million. This incident highlights the ongoing vulnerabilities within the DeFi sector, emphasizing the need for enhanced security measures to protect digital assets.

According to Odaily, AdsPower's security team disclosed a security breach on January 24, where hackers infiltrated the system by spreading malicious code, altering some third-party cryptocurrency wallet plugins within the AdsPower fingerprint browser. The company has since patched the vulnerability, enhanced system security, and reported the incident to Singaporean authorities, actively cooperating with the police investigation.The breach was initially noticed between January 21 and 22, when a few users reported issues with installing or updating the MetaMask plugin. On January 23, the technical team identified anomalies in the plugin download link and replaced it with the official download address. By January 24, AdsPower detected the plugin tampering, removed the malicious plugin package, fixed the download link, and instructed affected users to reinstall the plugin to ensure security.An internal investigation revealed that attackers exploited a vulnerability in a third-party technical service system to upload and distribute a malicious version of the MetaMask plugin, potentially compromising users' wallet plugin cache information. AdsPower has since upgraded the application center's plugin download mode and plans to further strengthen cybersecurity, emergency response, and supply chain security management. Affected users can receive an exclusive value-added service package through the AdsPower client.

According to PANews, Nano Labs, SlowMist, and Aquarius have announced the establishment of the Fortres Foundation and the launch of the Fortress Initiative. This initiative introduces a security design framework and process audit standards aimed at setting new benchmarks for safety and transparency in cryptocurrency liquidity management. The framework covers various stages of the liquidity management lifecycle, including risk assessment, continuous monitoring, and incident response. It also incorporates measures such as smart contract code audits and multi-chain asset security monitoring to ensure comprehensiveness and practicality.The Fortress Initiative plans to achieve industry integration through a one-year roadmap, initially focusing on inviting asset management protocols and ecosystem partners with BTC staking needs to participate in its development. The initiative has garnered support from leading industry institutions such as Nano Labs, SlowMist, and Aquarius. Additionally, Takara Lend, a lending protocol supported by the Sei blockchain, has joined as one of the first donor members.

According to Odaily, the SlowMist security team has issued a warning about a recent surge in social engineering attacks involving malware. Hackers are using fake video call links to trick victims into downloading malicious scripts, which are then used to steal sensitive information. In recent incidents, attackers first compromised the Telegram accounts of victims' friends and then used these accounts to initiate fake video calls, reducing the target's suspicion.The SlowMist team advises users to take immediate action if they encounter such attacks. Recommended steps include:1. Protecting Assets: If a wallet's private key or mnemonic phrase was stored on a computer, funds should be transferred promptly.2. Changing Passwords and Enabling 2FA: Users should immediately update passwords for accounts such as Telegram, X, email, and exchanges, and check for any unusual login activity.3. Running a Full Antivirus Scan: Utilize reputable antivirus software like AVG, Bitdefender, or Kaspersky to scan the system.4. System Reset (if necessary): Backup important files, reinstall the operating system, and ensure the system is virus-free before restoring data.Users are urged to remain vigilant, avoid clicking on unknown video call links, and ensure the security of their assets.

According to Foresight News, data from Defillama indicates that the market capitalization of stablecoins has surged to $227.17 billion, marking a new all-time high.

According to PANews, MakerDAO is set to update its oracle price to $1,806 at 10:00 (UTC+8). If Ethereum (ETH) fails to rebound above the liquidation price of a large whale's position or if the account does not add sufficient collateral, the position will face forced liquidation.

According to Binance Fear and Greed Index, the index rose to 24 today, up from 20 yesterday, indicating that market sentiment remains in a state of 'extreme fear.' The index, which ranges from 0 to 100, is calculated based on several factors: volatility (25%), market trading volume (25%), social media activity (15%), market surveys (15%), Bitcoin's dominance in the market (10%), and Google search trends (10%).

According to PANews, the multi-chain decentralized exchange PancakeSwap has announced the recent burning of 9,586,824 CAKE tokens. The value of these tokens is approximately $15 million. This move is part of PancakeSwap's ongoing efforts to manage the supply of CAKE tokens and enhance their value.

According to BlockBeats, the Monad testnet has reached a significant milestone, with daily transactions surpassing 1.3 million and total transactions exceeding 237 million. In the past week, 2,351,328 new addresses have been added. The number of addresses with 1 to 5 transactions is approaching 5 million.

According to Cointelegraph, the U.S. Department of Housing and Urban Development (HUD) is considering the use of blockchain technology and stablecoins for its operations. The department, responsible for overseeing social housing, has discussed utilizing blockchain to monitor grants, as reported by ProPublica on March 7. This information comes from a meeting recording, documents, and insights from three officials familiar with the discussions.The idea of experimenting with stablecoin payments to HUD grantees was also considered. This initiative could initially be tested in one of the department's offices before potentially expanding to other offices. HUD, led by Scott Turner, a choice of U.S. President Donald Trump, has been involved in cost-cutting measures inspired by Elon Musk.Two officials expressed to ProPublica that the HUD blockchain experiment might serve as a preliminary test for broader crypto and blockchain applications across the federal government. A recent meeting focused on a project within the Community Planning and Development office, which manages billions in grants for affordable housing and homeless shelters. The project aimed to track funds to one grantee using blockchain.However, the necessity of the project was questioned, with one attendee noting the lack of clear articulation for its need. A HUD official criticized the plan in a staff memo, labeling it as "dangerous and inefficient," and argued that stablecoin payments could introduce volatility. During a subsequent meeting, HUD staff had mixed reactions, with some suggesting that grantees could be paid using crypto, while another official proposed using "a stable currency." A finance official indicated that blockchain implementation would begin within the CPD.Despite these discussions, a HUD spokesperson informed ProPublica that "the department has no plans for blockchain or stablecoin. Education is not implementation." U.S. President Donald Trump has shown strong support for the crypto industry, and the HUD experiment reflects ideas from Elon Musk, who advocates for blockchain use to reduce federal spending.In related news, U.S. Treasury Secretary Scott Bessent stated at the White House Crypto Summit on March 7 that the government is considering the stablecoin regime to maintain the U.S. dollar's status as the dominant global reserve currency.

According to Odaily, top trader Eugene Ng Ah Sio shared three essential principles for assessing the value of DeFi token investments in a Telegram group. Despite improvements in the regulatory environment in recent years, he believes there is still a gap in viable investment strategies. Ng emphasizes that project teams must prioritize the interests of token holders, placing them at least on par with equity holders. Additionally, business models should not rely entirely on cryptocurrency speculation cycles to avoid valuation failures during bear markets when trading volumes plummet. Lastly, the execution capability of the team is crucial, requiring either technical barriers or exceptional execution skills. Ng noted that currently, only a few protocols meet these standards, and he plans to invest when the time is right.

According to Odaily, on March 5, the SlowMist security team detected suspicious transactions related to 1inch, with preliminary estimates indicating a loss of approximately $1 million. Previously, 1inch had disclosed that on March 5, the team discovered a vulnerability in the old Fusion v1 parser smart contract, which resulted in financial losses. The security team is currently addressing the associated risks.

According to Odaily, data from Greeks.live indicates that on March 7, 26,000 Bitcoin (BTC) options are set to expire, with a put-call ratio of 0.72 and a maximum pain point of $89,000, amounting to a nominal value of $2.36 billion. Concurrently, 215,000 Ethereum (ETH) options will expire, showing a put-call ratio of 0.73 and a maximum pain point of $2,300, with a nominal value of $490 million.The market has experienced significant volatility this week, influenced by U.S. President Donald Trump's impact on the cryptocurrency sector. This has resulted in BTC's short-term volatility remaining at 90%, while ETH's short-term volatility has surged past 110%. Market sentiment is highly sensitive, leading options market makers to reduce their selling pressure, causing a substantial increase in implied volatility (IV), which indicates a tendency towards risk aversion. On the other hand, buyers have seen considerable profits in the recent market conditions.