Crypto Morning News: U.S. short-term interest rate futures still indicate the Fed will cut rates in June; Solana SIMD-0228 proposal fails to pass
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Crypto Morning News: U.S. short-term interest rate futures still indicate the Fed will cut rates in June; Solana SIMD-0228 proposal fails to pass
Ethereum stuck in a "falling knife" dilemma, ETH/BTC ratio may drop another 30%.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
U.S. weekly initial jobless claims and February PPI data both below expectations
According to Jin10 News, the U.S. initial jobless claims for the week ending March 8 came in at 220,000, below the expected 225,000.
The U.S. February PPI year-on-year rate was 3.2%, below the forecast of 3.3%. The previous value was revised upward from 3.50% to 3.7%. The month-on-month PPI rate stood at 0%, compared to an expected 0.3%, with the prior figure revised from 0.40% to 0.6%.
Short-term U.S. interest rate futures still indicate a Fed rate cut in June
Following the release of U.S. initial jobless claims and PPI data, short-term U.S. interest rate futures continue to price in a Federal Reserve rate cut in June, according to Jin10 News.
CZ: Wall Street Journal article distorts facts; I never discussed any Binance US deal
Binance founder Changpeng Zhao (CZ) posted on X stating that the Wall Street Journal’s report about him making a deal for a pardon contains factual inaccuracies.
Zhao emphasized he has never discussed any transaction regarding Binance US and suggested the article appears to be an attack on both the President and cryptocurrency, implying remnants from the previous administration’s “crackdown on crypto” are still active.
He noted over 20 individuals told him the Wall Street Journal had asked them whether they could confirm "CZ reached some kind of deal for a pardon." Zhao pointed out that as the only person in U.S. history imprisoned as a felon solely due to a single Bank Secrecy Act (BSA) charge, no convicted felon would object to receiving a pardon.
Zhao reiterated his ongoing commitment to advancing cryptocurrency development in the United States and globally.
Solana SIMD-0228 proposal fails to pass
The Solana community’s voting on SIMD-0228, a proposal to adjust token inflation, has concluded. It received 61.39% support (counting only yes and no votes), falling short of the required 66.67% threshold for approval.
Per Dune data, the proposal received 43.6% yes votes, 27.4% no votes, and 3.3% abstentions, with a total participation rate of 74.0%. A total of 910 validators participated in this governance vote.
The SIMD-0228 proposal aimed to shift Solana’s SOL token inflation model from a fixed rate to a dynamic market mechanism linked to staking participation rates, designed to enhance flexibility and efficiency in the network’s economy through adaptive inflation adjustments.
Analyst: Ethereum trapped in 'catching a falling knife' scenario, ETH/BTC exchange rate may drop another 30%
Multiple analysts warn the ETH/BTC exchange rate could decline further in the coming weeks, Cointelegraph reported. Crypto analyst Alessandro Ottaviani described the current situation as a “falling knife” scenario—a rapid and steep decline that typically discourages buyers from entering too early. The metaphor suggests attempting to “catch the knife” when an asset appears cheap can lead to greater losses if the downtrend persists.
Technically, the RSI (Relative Strength Index) on the two-week chart for ETH/BTC has dropped to a historic low of 23.32. While an RSI below 30 usually signals oversold conditions that might trigger a rebound, Ethereum’s RSI continued declining for two months after previously entering oversold territory, indicating accelerating downward momentum rather than stabilization. If ETH/BTC fails to rebound from the 0.022 BTC level, it could fall further to the 0.020–0.016 BTC range—approximately a 30% decline from current levels.
Fundamental factors also support bearish sentiment. Ethereum faces strong competition from rivals like Solana. VanEck data shows Solana’s decentralized exchange trading volume has surpassed Ethereum’s. Additionally, the launch of spot Bitcoin ETFs disrupted traditional crypto market cycles. In 2024 alone, $129 billion flowed into Bitcoin ETFs, draining liquidity from altcoin markets including Ethereum.
Sen. Warren warns: If stablecoin bill passes, Musk could launch X Money tomorrow with almost no regulation
The U.S. Senate Banking Committee is set to review the stablecoin regulatory bill (GENIUS Act) on Thursday, a key step before it advances to a full Senate vote. Proposed by Senators Bill Hagerty, Tim Scott, and Kirsten Gillibrand, the bill aims to establish a regulatory framework for dollar-pegged stablecoins.
Although the bill is expected to gain bipartisan support, Senator Elizabeth Warren strongly opposes it, arguing it could undermine U.S. economic stability and grant excessive financial influence to tech giants—including Elon Musk’s X platform. Warren’s memo warns the bill lacks sufficient anti-money laundering and consumer protection measures.
In her two-page analysis, she stated: “Under this bill, Elon Musk could launch ‘X Money’ tomorrow and turn social media into a payment empire with virtually no oversight—we’re looking at the potential privatization of the dollar.”
The stablecoin market has expanded rapidly in recent years, with Tether, valued at over $140 billion, leading the industry. Supporters argue promoting dollar-backed stablecoins strengthens the U.S. dollar’s global position, while critics fear they could facilitate illegal activities such as sanctions evasion.
GoPlus Security announces completion of staking user snapshot, will airdrop SBT credentials
According to an official announcement from GoPlus Security, GoPlus has completed the snapshot of all staking users. All users who participated in staking before this point will receive a Soulbound Token (SBT) as an on-chain credential.
GoPlus stated these SBTs will be airdropped to users’ staking wallet addresses within the next two days.
Virtuals launches Agent Commerce Protocol (ACP) to build AI agent commercial ecosystem
Virtuals Protocol announced the official launch of its Agent Commerce Protocol (ACP), aiming to create a commercial ecosystem composed of AI agents. The protocol enables autonomous interactions, collaboration, and transactions among AI agents, forming what it calls the “Virtuals Nation.”
The ACP framework consists of three core components: an AI agent indexing registry (a Yelp-like rating system for AI agents), an AI agent commerce interaction system (facilitating cooperation and evaluation between agents), and an AI agent monetary transaction system (enabling trades via smart contracts). Currently, Virtuals Protocol hosts approximately 17,000 AI agents across multiple industries.
Virtuals Protocol plans to launch two business clusters within the next month: an autonomous hedge fund and trading DAO (in collaboration with projects like aixbt_agent and AIxVC_io), and an autonomous media company (partnering with luna_virtuals, MusicByVirtuals, etc.). The project will also host a hackathon to encourage developers to build innovative AI agent business clusters, such as AI-driven Hollywood or sports entertainment ventures.
Fortune: Financial disclosures show 6 of Trump’s 22 cabinet members hold bitcoin assets
According to Fortune, six of President Trump’s 22 cabinet members listed Bitcoin wallets or indirect cryptocurrency holdings through other financial instruments in their January financial disclosures, with total value amounting to millions of dollars.
The six officials are:
Secretary of Health and Human Services Robert Kennedy Jr.;
Director of the Office of Management and Budget Russell Vought;
Director of National Intelligence Tulsi Gabbard;
Secretary of Defense Pete Hegseth;
Secretary of the Treasury Scott Bessent;
Secretary of Transportation Sean Duffy.
China National Banknote Printing and Minting Corporation: Never issued virtual currency through any channel, beware of fraud
Jin10 reported that on March 13, China National Banknote Printing and Minting Corporation issued a statement saying it recently received reports from the public about scammers impersonating the company to issue virtual currencies via websites and apps. The company emphasized it has never issued virtual currencies through any channel and urged the public to remain vigilant against fraud to avoid financial loss.
Market Update
Suggested Reading
This article details the personal background, business portfolio, investments in cryptocurrency and artificial intelligence, and geopolitical positioning of Tahnoon bin Zayed Al Nahyan—the second most powerful figure in the UAE. Through the sovereign fund MGX, he invested $2 billion in Binance and established partnerships with leading AI firms such as OpenAI, xAI, and Anthropic. He also owns Phoenix Miner, the world’s largest Bitcoin mining facility. Tahnoon has aligned himself with the U.S. in the U.S.-China tech rivalry, leveraging AI investments and diplomatic strategies to strengthen his global technological influence.
Base AI token hype resurges—what’s driving the market lately?
This article discusses the recent surge in AI and meme token launches on the Base chain, along with performance and market dynamics of related platforms and tokens. The collaboration between Bankr and Clanker has become a focal point, enabling users to deploy ERC-20 tokens using Clanker technology via Bankr. While the Base chain’s token-launch frenzy has attracted significant attention, it carries high risks, with some tokens potentially collapsing to zero quickly.
Koreans don’t just trade crypto—they invest in U.S. stocks too
This article explores growing Korean investor interest in both U.S. equities and cryptocurrencies, especially amid limited domestic investment opportunities. Despite inefficiencies and high fees in existing U.S. stock trading infrastructure, blockchain-based solutions like tokenized stocks are emerging. Korean appetite for crypto remains significantly higher than the global average, although past scams have damaged market trust. Going forward, improved technology and platforms may attract more users and draw regulatory attention.
A breakthrough in uncollateralized lending on-chain? Core features and product breakdown of 3Jane
This article examines 3Jane’s hybrid CeFi-DeFi solution for uncollateralized lending, aiming to overcome major barriers in on-chain credit markets by integrating off-chain data and advanced technology to improve user experience.
Decoding DragonFly’s 2025 Airdrop Report: The untapped opportunity of crypto airdrops in the U.S.
This article analyzes how U.S. policy affects the crypto airdrop market, examining economic and tax losses caused by geographic restrictions and regulatory constraints on innovation. The report also offers policy recommendations to address current regulatory challenges and foster growth in the crypto industry.
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