Developers challenge BIP-110 proposal; former Iranian President Ahmadinejad killed in attack.

Headline

▌Developer Challenges BIP-110 Data Limitation Proposal by Writing Images to the Bitcoin Blockchain Without Using Taproot or Other Methods

Slovak Bitcoin developer and Rust Bitcoin library maintainer Martin Habovštiak released a proof-of-concept demonstrating that a 66kB TIFF image file was written directly to the Bitcoin blockchain in a single transaction without using OP_RETURN, Taproot, or OP_IF. This transaction is publicly verifiable on-chain and can be decoded into the complete image file. This experiment is seen as a direct challenge to Luke Dashjr's "anti-spam" soft fork proposal BIP-110. This proposal (formerly BIP-444) aims to limit the scale of on-chain data writes, which proponents argue deviates from Bitcoin's core function as "currency."

▌Former Iranian President Ahmadinejad Killed in Attack

According to foreign media reports on March 1, former Iranian President Ahmadinejad was killed in an attack.

(Xinhua News Agency) Market Data As of press time, according to CoinGecko data: BTC price is $65,808.26, a 24-hour change of -1.5%; ETH price is $1,941.93, a 24-hour change of -0.8%; BNB price is $619.78, a 24-hour change of +0.7%. The price of SOL is $83.61, a 24-hour change of -0.5%; the price of DOGE is $0.09219, a 24-hour change of -1.8%; the price of XRP is $1.35, a 24-hour change of -1.6%; and the price of TRX is $0.2806, a 24-hour change of -0.4%. WLFI price is $0.1087, 24-hour change -3.3%; HYPE price is $31.77, 24-hour change +3.0%. Policy: Joint Statement from the UK, France, and Germany: Possible "Necessary Defensive Actions" Against Iran. The leaders of the UK, France, and Germany issued a joint statement on March 1st, indicating the possibility of "necessary defensive actions" against Iran. The three leaders have agreed to cooperate with the US and other allies in the region.

▌Trump Still Willing to Engage in More Dialogue with Iran, Prepares to Speak on Attacks

According to the Daily Mail, Trump remains willing to engage in more dialogue with Iran, but it is uncertain whether such dialogue will take place "soon." When asked if he would give a speech or make a statement on the attacks on Iran, Trump replied, "I'm preparing to do so."

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Blockchain Applications

▌X Platform Paid Cooperation Policy Update: Cryptocurrencies, Investment Services, etc. Do Not Meet Promotion Conditions

According to the updated paid cooperation policy of the X platform, financial products, services, or opportunities (including loans, investment services, cryptocurrencies, buy-now-pay-later services, and other financial-related content) are listed as industry categories prohibited from paid cooperation promotion.

Furthermore, the policy requires all paid collaborative content to clearly indicate its commercial nature in the post, such as "advertisement" or "promotional content," and to ensure compliance with all applicable laws and regulations. Users who violate this policy may face penalties such as being required to delete posts or having their accounts suspended. Aave founder: Proposal to direct 100% of product revenue to AAVE tokens has passed the temperature check vote. Aave founder and CEO Stani.eth announced on the X platform that the "Aave Will Win" proposal to direct 100% of product revenue to AAVE tokens has passed the temperature check vote. This proposal will push Aave Labs further towards a "completely token-centric" model. The next step will be to optimize and improve the proposal structure based on community feedback before entering the ARFC (Aave Request for Comment) stage. Cryptocurrency ▌Analysis: SpaceX's Bitcoin Holdings Shrink by $235 Million, Potential Pressure to Disclose Book Value Before IPO According to on-chain data platform Arkham Intelligence, SpaceX currently holds approximately 8,285 Bitcoins in its Coinbase Prime escrow account, worth approximately $545 million at the latest price. This represents a decrease of approximately $235 million from its valuation of approximately $780 million three months ago, during which time the company has not reduced its holdings. SpaceX's Bitcoin holdings have remained relatively stable at around 8,300 Bitcoins since the beginning of 2026, but the book value has fluctuated significantly due to the BTC price correction. Its BTC holdings peaked at nearly $2 billion at the end of 2021, followed by a decline during the 2022 bear market, and have fluctuated between $400 million and $800 million over the past two years. Market analysts point out that once SpaceX submits its S-1 filing to the U.S. Securities and Exchange Commission, it will be required to disclose its exposure to related crypto assets, and future financial reports may reflect the risk of book profits and losses due to Bitcoin price fluctuations. Michael Saylor, founder of the Bitcoin treasury company Strategy, has once again released information related to Bitcoin Trackers, writing "The Turn of the Century." Based on past patterns, Strategy always discloses information about increasing its Bitcoin holdings the day after such news is released.

▌Former Credit Suisse CIO: CME Group Gold Futures Closed on Weekends, Tokenized Gold Handles Almost 100% of Price Discovery

Former Credit Suisse Chief Investment Officer Iggy Ioppe stated that during the period from the close of CME Group gold futures trading at 17:00 (Eastern Time) on Friday to the reopening at 18:00 on Sunday, tokenized gold assets such as PAX Gold (PAXG) and Tether Gold (XAUt) become the only continuously tradable public market. Since the formation of these publicly visible gold prices almost entirely occurs on-chain, it means that tokenized gold handles almost 100% of price discovery on weekends.

▌Binance Internal Notice: All Employees in the UAE Must Stay Indoors and Avoid Going Out

Binance has issued an internal notice requiring all employees in the UAE to stay indoors and avoid outdoor activities to ensure their personal safety.

▌Avantis Confirms Q2 Airdrop to Take Place March 5th

Base ecosystem decentralized derivatives exchange Avantis officially announced that the Q2 airdrop will take place on March 5th. A total of 40 million tokens will be distributed to trading users and LPs this quarter. The complete airdrop eligibility criteria and claiming mechanism will be announced in the coming days.

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Important Economic News

▌Trump: Military Action Against Iran Could Last 4 Weeks

According to the Daily Mail, US President Trump spoke for the first time on Sunday about the first US casualties in the conflict with Iran. Three US soldiers have been killed in the fighting.

▌ECB Governing Council Member Nagel: Questions about the Dollar's Safe-Haven Status Are Increasing

ECB Governing Council member Nagel stated that the dollar's role as the preferred traditional currency in times of uncertainty is increasingly being questioned, leading to a weaker exchange rate.

He stated, "There has been increased skepticism regarding the dollar's status as a safe-haven currency. Currently, the dollar's weakness is likely to continue, as the decline in international investor confidence is likely to persist." According to CME's "FedWatch": the probability of the Fed cutting rates by 25 basis points by March is 6.4%, and the probability of keeping rates unchanged is 93.6%. The probability of the Fed cutting rates by a cumulative 25 basis points by April is 22.6%, the probability of keeping rates unchanged is 76.2%, and the probability of a cumulative 50 basis point cut is 1.2%. The probability of a cumulative 25 basis point cut by June is 43.9%. [Golden Encyclopedia] What is the actual value of BTC? BTC is often likened to "digital gold," but its core value lies in its "promise of immutable scarcity." First, BTC possesses monetary properties, but it is not a currency because it lacks a stable unit of account. It is purely "monetary," representing a consensus game among humans regarding "what can serve as a store of value." Gold also possesses this core value, but its scarcity relies on physical geological constraints, while BTC's scarcity relies on mathematics and game theory—an information-level scarcity. However, what truly makes BTC unique is not the coin itself, nor the "digital gold" narrative, but rather that blockchain is the first permissionless, unclosable value settlement layer in human history. This is a completely new category of infrastructure. No sovereign entity can unilaterally prevent the final settlement of a BTC transaction. This attribute may be underestimated in peacetime, but it will be repriced during periods of geopolitical conflict and escalating capital controls. BTC is a systemic hedge. It is not a hedge against inflation, nor against the US dollar. It hedges against the structural degradation of institutional trust. In other words, Bitcoin's value is not intrinsic but reflexive; the more people believe in its value, the more valuable it becomes, and vice versa. Therefore, Bitcoin is a financialized expression of humanity's distrust of its own institutional capabilities. Its ceiling depends on the depth and breadth of this distrust, and its floor depends on the existence of a superior alternative.