According to Cointelegraph, U.S. President Donald Trump has proposed a plan to replace federal income taxes with tariffs, potentially saving the average American at least $134,809 over their lifetime. Research from accounting automation company Dancing Numbers suggests that these savings could increase to $325,561 per person if state-level wage-based income taxes are also eliminated. The states expected to benefit the most from this tax relief include New Jersey, New York, Connecticut, Illinois, and Massachusetts. Punit Jindal, founder of Dancing Numbers, indicated that Trump's plan might be preceded by a 20% 'DOGE Dividend' tax refund, which would provide immediate tax savings as a preliminary measure before a complete federal tax repeal. This initiative aims to offer minor tax relief and stimulate asset prices as investors reinvest their savings into the markets. Such tax cuts could also help counterbalance any potential increase in the cost of goods resulting from reciprocal trade tariffs and potential trade conflicts. President Trump initially proposed the idea of eliminating federal income tax in October 2024, suggesting that the revenue could be replaced by taxes on imported goods. During an appearance on the Joe Rogan Experience, Trump referenced the 19th-century U.S. economy, which was largely funded by tariffs before the establishment of permanent income taxes. In January 2025, Howard Lutnick, who was confirmed as commerce secretary in February 2025, supported the idea of replacing the Internal Revenue Service with an 'external revenue service.' Lutnick emphasized the historical success of tariffs in protecting American workers from unfair trade practices and criticized politicians for their fiscal management. The proposal has sparked discussions about its potential impact on the economy, with some experts suggesting that tax cuts could lead to increased market activity as individuals reinvest their savings. However, there are concerns about the possible rise in consumer goods prices due to trade tariffs, which could offset some of the benefits of the tax cuts. The plan remains a topic of debate as the administration considers its implementation and potential effects on the U.S. economy.

According to PANews, Web3 auditing firm Hacken, in collaboration with Bybit, has released an update on proof of reserves following a significant cyberattack that has heavily impacted the industry. Despite the attack, Bybit's reserves continue to exceed its liabilities. As the independent auditor for Bybit's proof of reserves, Hacken has confirmed that user funds remain fully supported. This indicates that Bybit possesses sufficient reserves to cover all user assets, maintaining its solvency while prioritizing security and transparency. In response, Bybit CEO Ben stated that Hacken's audit of their finances demonstrates their ability to compensate for customer losses using their own financial resources.

According to PANews, OpenSea CEO announced on Twitter that the U.S. Securities and Exchange Commission (SEC) is concluding its investigation into OpenSea. The CEO described this development as a victory for creators and builders in the field. He emphasized that categorizing NFTs as securities would be a setback, misinterpreting the law and hindering innovation.

According to Foresight News, Web3 auditing firm Hacken, in collaboration with Bybit, has released an update on proof of reserves following a significant cyber attack that has severely impacted the industry. Despite the attack, Bybit's reserves continue to exceed its liabilities. As Bybit's independent proof of reserves auditor, Hacken has confirmed that user funds remain fully backed. This indicates that Bybit has sufficient reserves to cover all user assets, maintaining solvency while prioritizing security and transparency. In response, Bybit CEO Ben stated that Hacken's audit of their finances demonstrates their ability to cover customer losses with their own financial resources.

According to BlockBeats, on February 22, Farside Investors reported notable net outflows from several major cryptocurrency funds. Grayscale's GBTC experienced a net outflow of $60.1 million, while Bitwise's BITB saw a net outflow of $16.6 million. Additionally, Fidelity's FBTC reported a net outflow of $12.5 million.

According to BlockBeats, on February 22, Bybit CEO Ben Zhou announced on social media that the company will transfer $2.95 billion USDT from cold wallets to hot wallets. Zhou emphasized that this is a planned strategy and not an unusual movement of funds.

According to Odaily, ABCDE Co-Founder Du Jun announced on the X platform that he will deposit 10,000 ETH into Bybit and will not withdraw it for a month.

According to Odaily, Casey Taylor, Global Support Director at DragonFly, commended Bybit's handling of a significant security breach involving $1.5 billion on the X platform. Taylor highlighted Bybit's exemplary crisis management, noting the swift and transparent response from the CEO, the prompt follow-up actions, and the calm demeanor under pressure. She emphasized the importance of clear communication, including live online responses, a defined timeline, and a willingness to address security vulnerabilities. Taylor suggested that other exchanges and projects could learn from Bybit's approach. Taylor also noted that the situation is still evolving, and facts may change as more information becomes available. Despite DragonFly being an early investor in Bybit, she assured that they receive updates simultaneously with the public and are committed to maintaining transparency throughout the incident's development.

According to BlockBeats, on February 22, Tim Wong, Chair of the Catizen Foundation, expressed his confidence on social media that Bybit will successfully navigate its current challenges. As a significant partner of Bybit, Wong reflected on the valuable support Bybit provided during the early stages of Catizen's development, particularly in marketing and resource integration. Wong emphasized that despite the challenges Bybit is currently facing, he believes the company will swiftly overcome these difficulties and emerge stronger. He quoted, 'What doesn't kill you makes you stronger,' highlighting his optimism for Bybit's continued growth and resilience.

According to Odaily, Mask Network founder Suji Yan announced on the X platform that he has deposited some Ethereum (ETH) back to Bybit. He mentioned that the public address holds less than $10 million and affirmed his continued support.

Bybit, the second-largest cryptocurrency exchange by volume, said it lost nearly $1.5 billion in Friday’s hack

On February 22, 2025, AB DAO officially announced that AB tokens will be listed on BingX exchange in the near future, and an official announcement will be issued after the launch.

Suspicious fund outflows were detected on Bybit, amounting to as much as US$1.46 billion.

On February 21, the White House issued a presidential memorandum entitled "'America First' Investment Policy."

Cryptocurrency exchange Bybit disclosed that its Ethereum multi-signature cold wallet was subject to unauthorized activity, resulting in the theft of nearly $1.5 billion in ETH and stETH assets.

CryptoQuant CEO Ki Young Ju tweeted that the coin season has begun.

Golden Finance launches the 2609th issue of "Golden Morning 8" - a morning report on the cryptocurrency and blockchain industry, providing you with the latest and fastest news on the digital currency and blockchain industry.

Investors unknowingly fell into the capital harvesting trap of "celebrity + Meteora + big truck".

Meme as a way of issuing assets is no longer friendly to ordinary people. Any asset issuance method, including Binance's vote for PI retro, has the heavy task of innovating the deep-rooted problems at its birth, but without any exception, they have all changed.

SBF has begun to move clearly toward the Republican Party, criticizing the Biden administration and may be seeking amnesty.