Crypto Morning News: Trump hopes to sign stablecoin legislation by August, Binance has delisted market makers for GPS and SHELL due to non-compliance
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Crypto Morning News: Trump hopes to sign stablecoin legislation by August, Binance has delisted market makers for GPS and SHELL due to non-compliance
U.S. February CPI data will be released on Wednesday, and Trump will meet with American tech leaders.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Trump: Hopes to Sign Stablecoin Legislation Before August
According to The Block, during the first-ever cryptocurrency summit held at the White House, Trump stated, "I support lawmakers passing a stablecoin bill and other legislation addressing market structure, so the U.S. dollar remains dominant 'for a long time to come.' If possible, I hope members of Congress will send this bill to my desk before their August recess."
During the summit, Trump also addressed de-banking issues and called for an end to "Operation Choke Point 2.0," which has become a hot topic among legislators and the digital asset industry in recent months. Cryptocurrency companies have increasingly criticized the policy, saying they face challenges when trying to establish and maintain bank accounts in the U.S. Trump said: "They [the Biden administration] forced banks to shut down accounts for crypto businesses and entrepreneurs, effectively blocking fund transfers between certain exchanges, and weaponized the government against the entire industry."
Michael Saylor Proposes '100 Trillion Dollar' Comprehensive Crypto Strategy at White House Summit
According to CoinDesk, Michael Saylor, co-founder of Strategy, shared a comprehensive cryptocurrency strategy at the White House digital assets summit, proposing that the U.S. could unlock up to $100 trillion in economic value over the next decade by establishing a clear regulatory framework, removing innovation barriers, and strategically acquiring Bitcoin.
Saylor categorized digital assets into four types: digital tokens for capital formation and innovation, digital securities to improve market efficiency, digital currencies for commerce and strengthening the global status of the U.S. dollar, and digital commodities such as Bitcoin for wealth preservation. He believes this classification would reduce regulatory uncertainty and seamlessly integrate digital assets into traditional financial systems.
At the core of his proposal, Saylor suggested that the U.S. strategically acquire 5% to 25% of the total global Bitcoin supply by 2035 through steady, programmatic purchases, thereby building a strategic Bitcoin reserve. He forecasts that this reserve could generate value between $16 trillion and $81 trillion by 2045, offering a long-term solution for reducing U.S. national debt.
In addition, Saylor called for an end to what he described as "hostile and unfair tax policies" toward the crypto industry, encouraged major banks to custody, trade, and finance Bitcoin assets, and opposed any tolerance for de-banking practices targeting participants in the crypto sector.
David Sacks Opposes Crypto Transaction Tax to Fund U.S. Crypto Reserves
According to Cointelegraph, David Sacks, White House Director of Crypto and Artificial Intelligence, opposed on a recent episode of the All In Podcast the idea of levying a tax on every crypto transaction—a proposal originally intended to raise funds for a strategic U.S. Bitcoin and crypto reserve.
Podcast host Jason Calacanis suggested imposing a 0.01% tax on each crypto transaction, valued in the transacted asset. Sacks responded: "Taxes always start this way. They're initially described as very mild, but when income tax started, it only applied to about a thousand Americans, and lawmakers swore it would never apply to the middle class." He added: "Even if promised to have minimal impact on people, I don't like the idea of new taxes. To me, it sounds burdensome."
Meanwhile, the Trump administration is exploring major reforms in taxation, cryptocurrency regulation, and governance. Trump previously proposed eliminating federal income tax and replacing its revenue with tariffs on imported goods. Notably, while specific tax policies were not discussed at the recent White House crypto summit, the Trump administration has expressed support for comprehensive tax reform at the federal level.
Analyst: If the Fed Does Not Cut Rates At All in 2025, It Could Trigger a Bear Market, With Bitcoin Possibly Retracing to $70,000
According to Cointelegraph, network economist Timothy Peterson warned that if the U.S. Federal Reserve does not implement any rate cuts in 2025, it could trigger a broader market downturn, pulling Bitcoin’s price back toward approximately $70,000. In a post, Peterson said: "The market needs a catalyst, and I think that catalyst might be the Fed not cutting rates at all this year."
Based on Peterson's Nasdaq Minimum Price Forward model, once a bear market begins, the Nasdaq would fall about 17% over roughly seven months, implying a potential 33% drop in Bitcoin to $57,000. However, Peterson believes the actual decline in Bitcoin may not be that severe, expecting the bottom to be closer to the lower end of $70,000.
He explained: "Traders and speculators are circling Bitcoin like vultures. Once the market expects Bitcoin to hit $57,000, it likely won’t reach that level because there will always be investors stepping in when prices are perceived as 'low enough.'" He recalled that in 2022, many predicted Bitcoin’s bottom would be $12,000, yet it only fell as low as $16,000—25% higher than expected.
MinionLab Relaunches Stream AI, Building the World’s First Data Agent Network
According to official news, MinionLab announced the relaunch of its data product Stream AI, which focuses on providing real-time commercial data acquisition capabilities for AI Agents. It covers multiple data sources including Google Search, Store, Amazon, and boasts the most comprehensive and highest-quality U.S. Store dataset currently available.
Stream AI uses MinionLab’s decentralized node network to capture, clean, and return high-quality data in real time, ensuring AI Agents can efficiently access required information. Leveraging its powerful Runtime Node technology architecture, MinionLab says it will continue launching advanced products to further empower the development of the AI ecosystem.
Binance: Has Delisted and Confiscated Proceeds from Market-Manipulating Market Makers of GPS and SHELL to Compensate Project Users
According to an official announcement, Binance, after investigating a market maker for GoPlus Security (GPS), discovered that the same entity was also responsible for market-making activities for MyShell (SHELL). Upon investigation, Binance found evidence of market misconduct and has since delisted the market maker and banned them from conducting any further market-making activities on the platform. All related profits have been confiscated and will be used to compensate users of the GPS and SHELL projects. Specific compensation plans will be determined and separately announced by the GPS and SHELL project teams.
In the announcement, Binance reiterated its requirements for authorized market makers, including ensuring both buy and sell orders are supported, maintaining sufficient order size and order book depth, and avoiding high-frequency order placement and cancellations that disrupt market stability. Binance will take further action against any market makers violating these rules to protect user interests.
Bloomberg: Gemini Has Secretly Filed U.S. IPO Application
According to Bloomberg, citing sources familiar with the matter, cryptocurrency exchange Gemini has secretly filed an application for an initial public offering (IPO) and has engaged Goldman Sachs and Citigroup to handle the potential IPO process.
The exchange has previously cleared several regulatory hurdles, including the U.S. Securities and Exchange Commission (SEC) concluding its investigation without taking enforcement action, as well as reaching a $5 million settlement with the Commodity Futures Trading Commission (CFTC) in January.
KABOSU, the Dog Behind DOGE, Gets a New Rescue Companion Named “Cocoro”
The owner of KABOSU, the Shiba Inu behind the DOGE meme, posted on X: "After being hacked recently, this might look suspicious, but it’s true. Today, our family welcomed a new member—I named her 'Cocoro,' a girl."
The name Cocoro comes from the Japanese word 「こころ」 (kokoro), meaning "heart." However, she affectionately calls her "Koko," and prefers the spelling "Coco," hence the full name "Cocoro." Like Neiro, she is a 10-year-old rescue dog.
"When Cocoro and Neiro met for the first time, they greeted each other warmly, acting like old friends. Neiro usually takes time to warm up to other dogs, so seeing them bond so quickly truly surprised me. I believe the two of them will happily live together with our three cats in our home every day."
Viewpoint: U.S. Equities Could Become the Third Major Class of RWA Assets After Stablecoins and Treasuries
According to Alex Xu, Research Partner at Mint Ventures, Coinbase CEO Brian Armstrong and CFO Alesia Haas recently indicated they are considering tokenizing the company’s stock to enable trading of U.S. equities on the Base blockchain. If successfully implemented, U.S. equities could become the third major category of RWA (real-world asset) after stablecoins (USDT, USDC) and treasuries (Buidl), potentially surpassing the current scale of tokenized treasury assets in the short term.
The value proposition of on-chain equities lies in two main aspects: first, expanding the trading market by enabling 7×24, borderless, permissionless trading; second, superior composability, allowing equity assets to serve as collateral, margin, or components of indices and fund products. For both supply and demand sides, listed companies can access global investors and gain more buying interest, while investors can directly allocate U.S. equities regardless of geographic restrictions.
Such concepts have been attempted before—Coinbase planned a security token listing in 2020 but paused due to regulatory concerns; during the last DeFi boom, Terra’s Mirror and Ethereum’s Synthetix launched synthetic U.S. equity products. Currently, the SEC’s shifting stance presents new opportunities for such innovations. Potential beneficiaries include Polymath’s Polymesh blockchain (token Polyx), which BlackRock has already used to issue a $500 million digital bond, as well as RWA projects like Ondo and oracle solutions such as Chainlink, which may benefit from this trend.
Macro Outlook This Week: U.S. February CPI Data to Be Released Wednesday, Trump to Meet U.S. Tech Leaders
According to Jin10 News, several key economic indicators will be released next week, with the U.S. February CPI data drawing the most market attention. On Wednesday, the U.S. will release unadjusted year-on-year CPI, seasonally adjusted month-on-month CPI, seasonally adjusted core CPI month-on-month, and unadjusted core CPI year-on-year figures—data that will directly influence the Federal Reserve’s policy decisions at its March 18–19 meeting.
In addition, U.S. President Trump is scheduled to meet with American tech leaders this week, including executives from HP, Intel, IBM, and Qualcomm. Other notable events include the Bank of Canada interest rate decision and a speech by European Central Bank President Lagarde.
This Week, APT, SEI, ARB, and Others Face Large Token Unlocks, With APT Unlock Worth $68.2 Million
According to Token Unlocks data, APT, STRK, SEI, and ARB will experience significant token unlocks this week:
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APT will unlock tokens worth $68.2 million at 6:00 AM on March 13, representing 1.92% of circulating supply;
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STRK will unlock tokens worth $10.86 million at 8:00 AM on March 15, representing 2.33% of circulating supply;
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SEI will unlock tokens worth $11.86 million at 8:00 PM on March 15, representing 1.19% of circulating supply;
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ARB will unlock tokens worth $34.93 million at 9:00 PM on March 16, representing 2.10% of circulating supply.
Former Directors of Avalanche Foundation Confirm Collective Resignation
Omer (@demirelo), former director of the Avalanche Foundation, issued a statement on X confirming that he, along with directors Aytunç Yildizli and Vikram Nagrani, have collectively resigned from their board positions at the foundation and its affiliated companies earlier this week.
Executive Director Aytunç Yildizli ceased duties on February 28, 2025, after which the board remained in a holding pattern, attempting to chart a path forward.
Omer stated: "Over the past 18 months, Aytunç Yildizli, Vikram Nagrani, and I advanced several key initiatives, including establishing the Avalanche Foundation’s brand identity, publishing its first annual report, launching the infraBUIDL() and infraBUIDL(AI) incentive programs, developing the AiFRED project, enhancing internal ecosystem coordination, and refocusing growth strategy on new market expansion and strategic partnerships. This collective, voluntary resignation was 'well-considered,' and we will continue to follow the development of the Avalanche ecosystem, wishing the Avalanche community and ecosystem continued success."
Market Movements
Suggested Reading
Why Is Sonic (formerly FTM) So Hot? Can It Spark Another DeFi Boom Cycle?
This article explores the rise of Sonic, a new blockchain led by Fantom founder Andre Cronje (AC), analyzing its technological innovations, market potential, and role in advancing the DeFi ecosystem. It also compares Sonic with other blockchains like Berachain, discusses its airdrop strategy and liquidity mining mechanisms, and outlines potential future developments and innovations.
Confessions of a Market Maker: A Frontline Guide to Surviving the Dark Forest for Project Teams
This article dives deep into the role of market makers in the cryptocurrency market, examining their business models, industry conditions, common misconceptions, and how project teams can choose suitable partners. Drawing from personal experience, the author reveals hidden rules of the industry and offers practical advice to help project teams better navigate sector challenges.
Podcast Notes: What the U.S. Strategic Reserve Means for the Crypto Industry and Retail Investors
This article comprehensively examines the implications of the U.S. announcement to establish a crypto strategic reserve on the cryptocurrency market, as well as recent performance and future outlook for major cryptocurrencies like Bitcoin and Ethereum. It analyzes how Trump’s policies may drive the market, shifts in Democratic attitudes toward crypto, and underperformance of Ethereum, among other topics.
"I’m Not a Criminal" – SBF’s Prison Interview: From Crypto Empire to Solitary Trial
This article presents a comprehensive exploration of Sam Bankman-Fried (SBF)'s journey from building a crypto empire to its collapse, based on an interview conducted from prison. It covers his life behind bars, reflections on effective altruism, views on the crypto industry and regulation, and more.
Tokenizing U.S. Equities and STOs: An Unfolding Narrative Waiting to Happen
This article discusses how tokenization of U.S. equities (STO) could become a significant narrative in the crypto market, with companies like Coinbase planning to use blockchain technology to enable borderless trading of equity assets. Although previous attempts stalled due to regulatory hurdles, the SEC’s evolving stance creates new potential. Equity tokenization offers advantages such as 7×24 trading and strong composability, meeting needs on both supply and demand sides. However, STO success ultimately depends on the speed at which clear regulatory frameworks emerge.
Deep Dive: The Final Battle for Dogecoin
This article provides an in-depth analysis of Dogecoin ($Doge)—its historical evolution, market positioning, and future potential. It explores Dogecoin’s transformation from a meme coin to a top-tier asset, institutional investment interest, potential payment applications, and its connection with Elon Musk. The article also analyzes Dogecoin’s token distribution and price volatility factors, and forecasts how upcoming key events—such as ETF approvals and payment integrations—could impact its market performance.
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