Daily Report | David Sacks has sold all his cryptocurrencies before taking office in the government; Coinbase has provided local ETF custody services in Hong Kong
March 3 News OverviewOrganizer: Jerry, ChainCatcher
Important News:
- Coinbase Co-founder: BTC is the optimal choice for strategic reserves, a crypto market cap index could be launched to maintain fairness
- Arthur Hayes comments on Trump's push for crypto strategic reserves, says "nothing new"
- David Sacks: Sold all cryptocurrencies before taking government office
- Coinbase: Has provided local ETF custody services in Hong Kong, discussing ETF sub-custodian plans with HSBC
- GoPlus: STAR10 token has serious security risks, team can destroy any holder's tokens at will
- ADA surged over 70% after Trump's "call," becoming the 8th largest cryptocurrency by market cap
"What important events occurred in the past 24 hours"
Coinbase co-founder and CEO Brian Armstrong commented on social media regarding "Trump's push for a cryptocurrency reserve plan," stating that in terms of asset allocation for strategic reserves, BTC may be the best choice, serving as a successor to gold with the simplest and clearest narrative. If people want more variety, a market cap weighted index of crypto assets could maintain fairness. However, choosing only BTC might be the simplest.
Arthur Hayes comments on Trump's push for crypto strategic reserves, says "nothing new"
BitMEX co-founder Arthur Hayes released a comment on "Trump's announcement to push for cryptocurrency strategic reserves," stating, "Nothing new, just talk. When they get congressional approval for borrowing or raise the price of gold, let me know. Without these, they have no money to buy Bitcoin and altcoins. Of course, I'm not bearish, still bullish. But I won't buy more tokens at this point."
David Sacks: Sold all cryptocurrencies before taking government office
American AI and cryptocurrency mogul David Sacks tweeted, "I sold all my cryptocurrencies (including BTC, ETH, and SOL) before taking government office."
According to reports, the U.S.-listed cryptocurrency exchange Coinbase announced plans to expand into the Asia-Pacific market. Its Asia-Pacific Managing Director and Australia Director John O'Loghlen stated that they exited the Japanese market two years ago. Although Japan has recently relaxed token restrictions, the variety of tokens remains very limited, and the platform must have at least 10 actual employees, which poses significant challenges from a business perspective.
John O'Loghlen also mentioned that there are currently no plans to operate in Hong Kong. If an international platform enters the Hong Kong market, it may require changing the entire tech stack of the exchange. However, Coinbase has already begun providing custody services for local ETFs in Hong Kong and is discussing ETF sub-custodian plans with HSBC.
GoPlus: STAR10 token has serious security risks, team can destroy any holder's tokens at will
GoPlus Security issued a warning that Ronaldinho's STAR10 token has serious security risks. GoPlus discovered that token owners can destroy any holder's tokens at will. Since ownership has not been relinquished, all tokens are at risk of being destroyed without warning.
GoPlus Security calls on the Ronaldinho team to immediately relinquish ownership to protect community safety. They also remind traders to remain highly vigilant regarding this token and suggest that BNB Chain notify users of the associated risks.
ADA surged over 70% after Trump's "call," becoming the 8th largest cryptocurrency by market cap
According to CoinGecko data, Cardano (ADA) surged 73% after Trump stated he would "push for a strategic reserve of cryptocurrencies including XRP, SOL, and ADA" last night, reaching a high of $1.148, and is currently priced at $1.136, making it the 8th largest cryptocurrency by market cap ($39.8 billion), with a current FDV of $49.9 billion. The total trading volume across the network in the last 24 hours reached $8.12 billion.
"What are some great articles worth reading in the past 24 hours"
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Meme Hot List
According to the meme token tracking and analysis platform GMGN, as of March 3, 19:50:
In the past 24 hours, the top five popular tokens on Ethereum are: CSR, SPX, XCN, LINK, MKR
In the past 24 hours, the top five popular tokens on Solana are: YODA, TRUMP, KOINZ, PIPE, KAIREN
In the past 24 hours, the top five popular tokens on Base are: VIRTUAL, KAITO, SHAKA, Share, USD+
