income

According to market news, Goldman Sachs has submitted an application for the Bitcoin Premium Income ETF.

Defillama founder 0xngmi mentioned that "Polymarket will launch its native stablecoin Polymarket USD," stating that there is a total of approximately $1.25 billion in Polymarket user wallets, and if the platform is willing to retain interest income, it will generate $54 million in interest income annually at the current interest rate.

Devansh Mehta, a researcher at the Ethereum Foundation, proposed a Validator Revenue Redistribution (VRR) scheme at the EthCC conference. It aims to allow validators to signal on the consensus layer and autonomously decide to redirect a certain percentage of their staking rewards to designated smart contracts, rather than withdrawing all to personal wallets. The recipients can be public goods funding platforms like Gitcoin, Octant, security auditing agencies, or core protocol research teams.The scheme involves two changes to the execution layer: signaling the redirection ratio by validators and the logical implementation of fund allocation to the designated contracts.

According to Dailycoin, DefiLlama data shows that among approximately 1,300 DeFi projects, as much as 97.6% of the projects failed to generate significant revenue, and the income distribution exhibits a clear power-law pattern.Among them, stablecoin issuers and trading platforms dominate the leaderboard, with Tether at $490 million, Circle at $201 million, and Hyperliquid at $61 million.In addition, only six protocols had revenues between $10 million and $50 million. In the past 30 days, only 32 projects (accounting for just 2.4% of the total) had revenues exceeding $2 million; the biggest losses were incurred by the MEV protocol Kairos Timeboost (loss of about $200,000) and the options platform Hegic (loss of about $23,000).

According to The Defiant, Electric Capital released a research report on Monday, reviewing 501 real-world yield assets and cross-referencing them with tokenized assets that currently have significant on-chain activity. The report shows that only 34 yield assets have an on-chain scale exceeding $50 million, primarily concentrated in U.S. Treasuries, private credit, corporate bonds, and non-U.S. sovereign bonds; the remaining 93% of yield sources are still blocked by seven categories of obstacles, covering legal structures, asset-backed security challenges, and the real integration challenges of commodities and computing infrastructure.The report points out that distribution channels are the main bottleneck: among 35 non-stablecoin on-chain yield RWAs, only 2 have more than 2,000 holders. Part of the reason is design limitations, such as BlackRock's BUIDL requiring a minimum investment of $5 million, but data shows that most tokenized assets still rely on a few large deployers and treasury managers. The top ten holders of BUIDL control 98% of its supply, with holders mainly being protocols like Ethena, Ondo, and Sky.Electric Capital believes that five factors will drive more assets on-chain: the growth of stablecoin scale and diversification of yield preferences, differentiated competition among protocols, treasury infrastructure absorbing duration risk, layered mechanisms expanding the buyer base, and leveraged cycles amplifying demand for collateral assets. The report also notes that Goldman Sachs expects AI infrastructure spending to exceed $50 billion by 2026, with GPU leasing, data center construction, and energy contracts expected to become emerging catalytic scenarios for on-chain financing.

According to The Block, South Korea's largest opposition party, the People Power Party, has submitted a bill to the National Assembly proposing to completely abolish the cryptocurrency capital gains tax plan set to take effect on January 1, 2027. The bill was primarily proposed by the party's representative Song Eon-seok.Under the current tax scheme, South Korea plans to impose a maximum tax rate of 22% on cryptocurrency trading gains exceeding 2.5 million won (approximately $1,665), consisting of a 20% national income tax and a 2% local tax. This tax plan has been postponed three times since 2022.The core argument of the bill is tax fairness. By the end of 2024, South Korea will have abolished income tax on gains from traditional financial investments such as stocks, and the proponents argue that it is unfair to tax cryptocurrency investors separately. The bill also cites the recent guidance from the U.S. Securities and Exchange Commission (SEC) that classifies most cryptocurrencies as commodities, arguing that cryptocurrencies should not be treated the same as securities.

According to The Block, South Korea's largest opposition party, the People Power Party, has submitted a bill to the National Assembly proposing the complete abolition of the cryptocurrency capital gains tax plan scheduled to take effect on January 1, 2027. The bill was primarily proposed by the party's representative in the National Assembly, Song Eon-seok.Under the current tax scheme, South Korea plans to impose a maximum tax rate of 22% on cryptocurrency trading gains exceeding 2.5 million won (approximately $1,665), consisting of a 20% national income tax and a 2% local tax. This tax plan has been postponed three times since 2022. The core argument of the bill is based on tax fairness.By the end of 2024, South Korea has abolished income tax on traditional financial investment gains such as stocks, and the proponents argue that taxing cryptocurrency investors separately is unfair. The bill also cites the recent guidance from the U.S. Securities and Exchange Commission (SEC) that classifies most cryptocurrencies as commodities, asserting that cryptocurrencies should not be treated the same as securities.

According to GMGN data, the top 5 trending sector tokens in the past 24 hours are as follows:INCOME (5Qmb....ump): Currently priced at $0.0016, market cap of $1.38 million, 24h increase of +57.1K%, 24h trading volume of $5.97 million, number of trades 91,231;nees (iNKe....ump): Currently priced at $0.0001, market cap of $43,000, 24h decrease of -97.5%, 24h trading volume of $19.6 million, number of trades 86,404;OpenClawAi (Eg5B....Ldq): Currently priced at $0.0006, market cap of $520,000, 24h increase of +1.85K%, 24h trading volume of $37.58 million, number of trades 75,130;Ray (G7yd....ump): Currently priced at $0.0001, market cap of $50,000, 24h increase of +1.46K%, 24h trading volume of $3.61 million, number of trades 76,415;TFW (8Y7u....ump): Currently priced at $0.0004, market cap of $320,000, 24h increase of +10.6K%, 24h trading volume of $3.16 million, number of trades 49,957;

According to TheBlock, the governance results of the "Aave Will Win" proposal show that the temporary vote received approximately 622,300 votes in favor, accounting for 52.58%. The opposing votes totaled 497,100, accounting for 42%, with an additional 64,200 abstentions, accounting for 5.42%. This vote was initiated on February 25, began on February 26, and concluded early Sunday morning.If the subsequent phases are advanced, the framework will establish four major operational pillars: directing 100% of Aave brand product revenue to the DAO, establishing a formal brand protection mechanism, approving Aave V4 as the core technological foundation, and providing funding to the DAO to support strategic growth plans.This temporary review preliminarily indicates community support, and the next step is expected to submit a formal ARFC application that includes feedback.

According to a report by Reuters, the ruling party in Turkey has submitted a new tax law draft to parliament, proposing a 10% withholding tax on profits from cryptocurrency transactions conducted on compliant platforms, to be withheld and paid quarterly; profits from cryptocurrency transactions conducted outside authorized platforms would need to be reported and taxed annually.The draft also proposes a 0.03% transaction tax on cryptocurrency service providers, applicable to sales and transfer transactions they facilitate or conduct directly. In recent years, due to high inflation and the depreciation of the lira, the use and trading volume of cryptocurrency in Turkey have rapidly increased, with annual trading volume approaching $200 billion by 2025.

According to Jinshi Data, U.S. President Trump stated that the Supreme Court's ruling is regrettable. Almost all countries and cooperative organizations hope to maintain the agreements they have reached on tariffs. Tariffs will continue to be implemented and will replace income tax, with no action needed from Congress on the tariff issue.

According to Forbes, over the past few weeks, the price of Ethereum has continued to fluctuate narrowly around $2,000. Several market observers have pointed out that this reflects Ethereum being caught in a "narrative gap."Analyst Callan Sarre stated, "For the past few years, the story of Ethereum has been simple—L2 carries the scale, while the base layer remains lean and secure. Now, L2 has processed billions of dollars in weekly trading volume, with fees dropping over 90%, but the question is where long-term value accumulates." The market is pushing zero-knowledge technology and privacy features closer to the base layer, "for traders clinging to old models, it feels like the ground is shifting beneath their feet."Sarre emphasized the contradiction between transparency and institutional demand: "Today, every Ethereum transaction is completely public and transparent, which doesn't work for CFOs managing corporate treasuries or funds deploying nine-figure positions. If Ethereum is to attract trillions in institutional capital, privacy must be built into the protocol layer."Grayscale began distributing staking rewards to U.S. Ethereum ETF holders in January, and BlackRock has also applied for its staking ETH fund. PrimeXBT senior market analyst Jonatan Randin stated, "This changes the nature of Ethereum ETFs—not just price exposure, but income-generating products." He emphasized that the growth of the options market is reshaping the asset's volatility characteristics, "the options market around spot ETFs introduces dynamics like covered calls and dealer hedging that didn't exist two years ago."

According to Bloomberg analyst James Seyffart, the latest filing for BlackRock's Ethereum ETF (ticker ETHB) has been released. The filing includes an annual expense ratio of 0.25%. Additionally, BlackRock will retain 18% of the total staking revenue from the Ethereum ETF as staking fees.