BlackRock executives remain silent on SOL ETF plans; BTC falls below $91,400

Headlines

▌BlackRock executives remain silent on Solana ETF plans

While the Solana ETF application boom continues to heat up, BlackRock, the world's largest asset manager (with $11.6 trillion in assets under management), has not yet joined the ranks. BlackRock's iShares brand currently manages the two largest spot cryptocurrency ETFs: iShares Bitcoin Trust ETF ($55.4 billion) and iShares Ethereum Trust ETF ($3.7 billion). When asked if BlackRock plans to launch a Solana ETF, Rachel Aguirre, head of BlackRock's US iShares product department, did not disclose specific details, only saying that the company will follow three core principles: What is the customer demand? Is the investment logic valid? Is it suitable for launch in the form of an ETF? Currently, institutions such as Franklin Templeton, Bitwise, Grayscale and 21Shares have submitted applications for the Solana ETF. Bloomberg analysts estimate that the probability of Solana ETF being approved by the US SEC is 70%. BTC falls below $91,400, according to market data. BTC fell below $91,400 and is now trading at $91,388.01, a 24-hour drop of 5.1%. The market is volatile, so please do a good job of risk control.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $91,499.84, with a daily increase or decrease of -5.1%;

ETH's latest transaction price is $2,506.72, with a daily increase or decrease of -11.5%;

BNB's latest transaction price is $612.27, with a daily increase or decrease of -7.2%；

SOL's latest transaction price is 141.07 US dollars, and its intraday increase or decrease is -16.4%；

DOGE's latest transaction price is 0.2086 US dollars, and its intraday increase or decrease is -14.3%；

XPR's latest transaction price is 2.28 US dollars, and its intraday increase or decrease is -11.7%.

Policy

▌South Dakota vetoes Bitcoin reserve bill

At the legislative meeting on February 24, local time, the South Dakota House of Representatives Commerce and Energy Committee decided to postpone the HB 1202 bill to the '41st day' of this legislative session. However, the state legislative session is only 40 days at most, and this move is equivalent to vetoing the bill, which means that the state will not include Bitcoin as an official investment option for the time being.

▌Dubai Financial Services Authority approves USDC and EURC as the first batch of approved stablecoins

The Dubai Financial Services Authority (DFSA) officially approved Circle's stablecoins USD Coin (USDC) and EURC as approved tokens, becoming the first batch of approved stablecoins under the regulatory system. The new regulations will enable companies in the Dubai International Financial Center (DIFC) to use these two stablecoins in a number of digital asset applications such as payment and fund management. Since its establishment in 2004, DIFC has attracted nearly 7,000 active businesses and strictly allows only approved crypto tokens to operate.

▌The US SEC may reconsider the lawsuit against ConsenSys MetaMask staking service

According to Fox Business reporter Eleanor Terrett, given the recent attention of the US Securities and Exchange Commission (SEC) to the staking business, the agency may reconsider the lawsuit filed last year against ConsenSys for its MetaMask staking service. In addition, the SEC previously accused ConsenSys of engaging in unregistered brokerage business, but this allegation has now been withdrawn, similar to the allegations dismissed in the Coinbase lawsuit.

Blockchain Applications

▌Celo, Chainlink, etc. launched the cross-chain version of USDT "Super USDT" on the OP super chain

Blockchain infrastructure protocols Celo, Chainlink, Hyperlane and Velodrome launched the cross-chain version of USDT "Super USDT" on the OP super chain.  

The stablecoin will be fully supported by the equivalent USDT reserves locked on the Ethereum expansion solution Celo, and its cross-chain function will be realized through Chainlink's cross-chain interoperability protocol and another open interoperability framework Hyperlane.

Cryptocurrency

▌Viewpoint: ETF approval will help Solana break the "meme chain" narrative

Chris Chung, CEO of Titan, wrote that Solana's development from a meme coin narrative to a major blockchain competitor depends on the approval of the Solana ETF, which will bring institutional trust and unleash its potential in large-scale financial applications such as payments and transactions. The article believes that meme coins have become synonymous with Solana, so much so that some in the industry believe it is purely a "meme chain." Solana's Pump.fun launchpad has created more than 7.5 million tokens and generated more than $550 million in revenue. This is a boon for the ecosystem, driving infrastructure upgrades and new users, but Solana’s potential extends far beyond memecoin, and the approval of a Solana ETF — all but guaranteed this year — is the catalyst that helps position Solana as a high-performance blockchain capable of supporting large-scale financial use cases, from complex trading to lending, with Polymarket traders currently giving an 85% chance of a fall launch.

▌Traditional Finance Giant Citadel Securities Plans to Become a Crypto Market Maker

Traditional finance giant Citadel Securities, the largest market maker on the New York Stock Exchange with a market capitalization of $65 billion, plans to enter the cryptocurrency market making space, betting that President Trump’s support for the crypto industry will lead to a market boom.  

Citadel Securities plans to join the list of market makers of multiple trading platforms including Coinbase Global, Binance and Crypto. com, and may initially set up its market making team outside the United States.

▌$879 million was liquidated across the entire network in the past 24 hours, and more than 294,000 people were liquidated

According to Coinglass data, the total liquidation amount of the cryptocurrency market in the past 24 hours reached $879 million, of which $815 million was liquidated for long orders and $64.2205 million was liquidated for short orders. The liquidation amount of BTC reached $240 million, ETH liquidated $187 million, and SOL liquidated $98.2312 million. A total of 294,419 people were liquidated, of which the largest single liquidation occurred in the XBTUSD trading pair of Bitmex, with an amount of $10 million.

▌Bernstein: Liquidity will flow back from useless memes to DeFi, GameFi and NFT, and is optimistic about stablecoins and RWA

Bernstein released an analysis report stating that "previously, the crypto market was forced to turn to useless meme coins to avoid regulatory crackdowns on utility tokens and NFT projects, but as the Trump administration relaxes regulations, analysts expect liquidity to return to practical-driven tracks such as DeFi (decentralized finance), GameFi and NFT." 

"Paul Atkins, the crypto-friendly regulator nominated by Trump, will take charge of the SEC (pending Senate confirmation) and establish a crypto working group led by Republican Commissioner Hester Peirce. The SEC's agreement in principle to drop securities violations charges against Coinbase and terminate the investigation into OpenSea both indicate a policy shift. ETF funds continue to inflow and Strategy The wave of corporate hoarding led by the US dollar will drive Bitcoin's rise in the coming months. Even with the recent market downturn, the target price of $200,000 by the end of the year is still maintained. "Stablecoins and real-world asset tokenization (RWA) are another focus, especially with the expected implementation of the regulatory framework for stablecoins and digital asset securities. Stablecoins will first affect cross-border B2B payments, interbank settlements and remittances. As the regulation of crypto asset securities becomes clearer, equity and debt tokenization will open up new paths for corporate financing, and the demand for stablecoins as settlement currencies will also increase. Stablecoins are expected to expand the potential market for trading platforms and brokers - the listing of tokenized equity will drive trading volume growth, and the demand for stablecoins will increase the platform's float income.

Important Economic Dynamics

▌Trump: The United States will receive more than $1.63 trillion in huge investments during his new term

US President Trump posted on social media that in his latest term During his tenure as US President, the United States received a lot of investment. He listed some specific investment projects, including a $14.1 billion bid from Japan Steel, a $20 billion investment from Hussein Sajwani, a $500 billion investment from Apple over four years, a $500 billion investment from Stargate over four years, and a $600 billion investment from Saudi Arabia. The above investment totals $163.41 billion.

▌Google proposes Titans: Breaking through computing power limitations and extending context

Google Research released a new study Titans. By introducing new neural long-term memory modules, three-head collaborative architecture and hardware optimization design modules, the context window of large models is expanded to 2 million tokens with only a 1.8-fold increase in computing power. Titans not only solves the computing power bottleneck of the Transformer model in long context processing, but also simulates the hierarchical mechanism of the human memory system through bionic design, and realizes the precise reasoning of 2 million tokens in ultra-long context for the first time.

▌The probability of the Federal Reserve keeping interest rates unchanged in March is 95.5%

According to CME's "Fed Watch": The probability of the Federal Reserve keeping interest rates unchanged in March is 95.5%, and the probability of a 25 basis point rate cut is 4.5%. The probability of maintaining the current interest rate unchanged by May is 72%, the probability of a cumulative 25 basis point rate cut is 26.9%, and the probability of a cumulative 50 basis point rate cut is 1.1%.

▌Microsoft reiterated its plan to invest $80 billion in AI

Microsoft reiterated its plan to invest $80 billion in artificial intelligence (AI), but may "adjust our infrastructure investment in certain areas." TD Cowen previously pointed out in a report that Microsoft has canceled its data center leasing plan.

Golden Encyclopedia

▌What is Fractal Bitcoin

Fractal Bitcoin is an innovative blockchain expansion solution based on recursive virtualization technology. It enhances the scalability of Bitcoin by creating a multi-layer network structure while maintaining a secure connection with the main network. The creation background of Fractal Bitcoin stems from the emergence of the Ordinals protocol and related applications in 2023. For security reasons, Bitcoin has imposed restrictions on opcodes and block storage space in its iterations. When the Bitcoin chain ecosystem develops rapidly, there are limitations in chain computing power and block space, so developers have proposed the concept of fractal Bitcoin, hoping to solve the shortcomings of the Bitcoin network.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment concept and be sure to raise your risk awareness.