US SEC announces list of crypto working group personnel BTC breaks through $87,000

Headline

▌U.S. SEC announces list of cryptographic working group members

The U.S. Securities and Exchange Commission (SEC) today announced the list of members of the cryptographic working group, which will provide advice to the Commission on matters related to cryptocurrencies.  

The working group is composed of members of the acting chairman's office and other departments of the Commission. SEC Commissioner Hester Peirce said: "The cryptographic working group has demonstrated deep expertise and positive commitment, and will find viable solutions to complex cryptocurrency regulatory issues with the help of other outstanding staff of the Commission and the public."

▌BTC breaks through $87,000

The market shows that BTC has broken through $87,000 and is now at $87,008.93. The 24-hour decline has narrowed to 7.77%. 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 $86,346.90, with a daily increase or decrease of -7.9%;

ETH's latest transaction price is $2,158.47, with a daily increase or decrease of -13.5%;

BNB's latest transaction price is $575.01, with a daily increase or decrease of -7.5%；

SOL's latest transaction price is 142.53 US dollars, and its intraday increase or decrease is -19.1%；

DOGE's latest transaction price is 0.1994 US dollars, and its intraday increase or decrease is -15.7%；

XPR's latest transaction price is 2.40 US dollars, and its intraday increase or decrease is -17.2%。

Policy

▌El Salvador’s $1.4 billion IMF loan agreement includes Bitcoin supervision conditions

El Salvador’s $1.4 billion IMF loan agreement includes Bitcoin supervision conditions, and the new International Monetary Fund (IMF) loan terms reveal key Bitcoin-related measures that El Salvador must take: end public participation in Chivo and stop using public funds by July 2025.  

Liquidate Fidebitcoin Trust and publish audited financials 

Establish a Bitcoin management framework for government-held BTC 

Disclose all hot and cold wallet addresses and BTC holdings to the IMF 

Regular IMF review to ensure compliance by 2025

▌The U.S. SEC ends its investigation into Yuga Labs

Yuga Labs’ X account posted, “The SEC has officially ended its more than three-year investigation into Yuga Labs. This is a major victory for the NFT industry and all creators who drive the development of the ecosystem, and further confirms that NFT is not a security.”

Blockchain Applications

▌Zora Launches Its Native Token ZORA

Ethereum L2 network Zora announced the launch of its native token ZORA, which will be available this spring. 

ZORA is scheduled to be launched on the Base network with a total supply of 10 billion. The first snapshot was taken today (March 3, 2025) at 9 am (Eastern Standard Time), and the second snapshot will be taken three days before ZORA goes online. 

Zora already has more than 2.4 million collectors and 618,000 creators, creating more than $27.7 million in rewards, and the content on Zora has driven more than $376 million in transactions on the secondary market.

Cryptocurrency

▌Singapore's largest money laundering criminal Wang Shuiming may be extradited back to China, and his partner is the mastermind of the Hong Kong crypto platform scam AAX

According to NetEase Qingliu Studio, Wang Shuiming, a native of Anxi, Fujian, who was arrested in connection with Singapore's largest money laundering case, has been arrested in Montenegro and will be extradited back to China. Wang Shuiming's partner Su Weiyi was confirmed to be the mastermind of the Hong Kong cryptocurrency platform scam AAX. In July 2024, Su Weiyi was arrested by the Hong Kong police.  

In November 2022, Atom Asset Exchange suddenly failed to withdraw cash and then went bankrupt. Su Weiyi ran away with 16.74 million Hong Kong dollars (approximately RMB 15.675 million). In July 2024, Su Weiyi was arrested by the Hong Kong police. It is worth mentioning that Su Weiyi co-owns other companies with other partners who are associated with Alice Guo, a convicted former mayor of Chinese Filipino descent.

▌Binance.US former executive Tammy Weinrib joins Copper as chief compliance officer for the Americas

Crypto custody company Copper has hired Tammy Weinrib as its new chief compliance officer and American Bank Secrecy Act (BSA) officer. Weinrib will lead the company's licensing business in the US market and will be a member of Copper's executive team based in New York. The decision is part of the company's strategic shift to focus on markets such as the United States, Europe and the Middle East.  

Weinrib served as chief compliance officer and BSA officer at Binance.US. Prior to this, she worked at cryptocurrency exchange Gemini. Before entering the cryptocurrency field, she worked in traditional finance and worked at Wall Street banks Citibank (C), Royal Bank of Scotland (RBS) and Standard Chartered Bank (STAN).

▌Arkham: FTX/Alameda wallet received $430 million SOL

According to data disclosed by Arkham on the X platform, the FTX/Alameda asset wallet received 3.033 million SOL, with a current market value of approximately $430 million.

▌Well-known network anchor Amouranth said that she was robbed by gunmen at home and the robbers asked for cryptocurrency

Late at night on March 2, well-known network anchor Amouranth (real name Kaitlyn Siragusa) posted a series of posts on the X platform, saying that she was robbed at home and the robbers asked for cryptocurrency. On March 3, a few hours after her first post on the X platform, she posted another update, saying that there were three gunmen and attached a video that seemed to be from a surveillance camera. After she allegedly took the three men to another part of the property, three loud bangs were heard, and the three men then ran out of frame. In November 2024, Amouranth posted a screenshot of her Coinbase account, showing that she held approximately 211 Bitcoins, which were then worth $20 million, or $86,535 per Bitcoin. The screenshot also showed that she held approximately $80,000 worth of Ethereum, which was then priced at $2,161. Amouranth is known for being open about her financial situation, having participated in a YouTube personal finance show and sharing her income across various platforms. Cryptocurrency erases gains since Sunday, and integration into traditional finance is difficult to remain immune Cryptocurrency analysts point out that Bitcoin has now turned bearish, and its weekend gains have completely evaporated. Although Trump's statement on cryptocurrency reserves briefly stopped the downward momentum, underlying macroeconomic issues remain. Over the past few days, the price of Bitcoin has shown great volatility. In essence, Trump's statement may only be a superficial treatment of a very serious problem. Last week, the Crypto Fear and Greed Index fell to its lowest level since 2022. There are several reasons why Bitcoin is so bearish at the moment: First, the macroeconomic situation is not a bullish factor for cryptocurrencies. The Atlanta Fed GDPNow model now expects the US GDP to shrink by 2.8% by the end of the first quarter of 2025. From an economic perspective, this forecast is disastrous compared to the 3.9% growth predicted four weeks ago. Another important factor is Trump's proposed tariff policy. Although some analysts believe that tariffs are not the main reason. However, when Trump recently announced a 25% tariff on the European Union, the cryptocurrency market plummeted. In other words, macroeconomic factors largely affect the market sentiment of the cryptocurrency industry. Since the approval of the spot Bitcoin ETF, cryptocurrencies have been deeply integrated with traditional finance. So if the US economy falls into a recession, the disadvantages of this integration will be fully revealed.

Important Economic Dynamics

▌Trump used 30 minutes to fill the market with information: tariffs, Russia and Ukraine, huge investments

On Monday, local time, at a press conference announcing that TSMC (TSM.N) would invest $100 billion in the United States, US President Trump said that the United States would impose a 25% tariff on Canada and Mexico on the 4th of this month, and said that there was no room for negotiation with these two US allies. The Canadian Foreign Minister responded that he was ready to impose tariffs on US goods worth 155 billion Canadian dollars. In addition, Trump also said that the United States would adopt reciprocal tariffs from April 2, and would impose tariffs on countries that took the approach of currency devaluation to impose sanctions. The press conference, where reporters rushed to ask questions, lasted about 30 minutes. Trump also revealed earlier that tariffs would be imposed on agricultural products on April 2. Regarding the conflict between Russia and Ukraine, Trump said that despite his public dispute with Zelensky, the mineral deal with Ukraine had not fallen through, and there was no talk of suspending military aid to Ukraine. Trump also hinted that if Zelensky does not agree to sign the armistice agreement, his presidency may be lost. He will update the progress of the mineral agreement on the evening of the 4th. In addition, in terms of US-Russia relations, there are reports that the United States is drafting a plan that may grant Russia sanctions relief.

▌The probability of the Federal Reserve keeping interest rates unchanged in March is 91%

According to CME's "Fed Watch": The probability of the Federal Reserve keeping interest rates unchanged in March is 91%, and the probability of a 25 basis point rate cut is 9%. The probability of maintaining the current interest rate unchanged by May is 60.5%, the probability of a cumulative 25 basis point rate cut is 36.5%, and the probability of a cumulative 50 basis point rate cut is 3%.

▌The three major U.S. stock indexes closed down collectively

The three major U.S. stock indexes closed down collectively, with the Dow Jones Industrial Average down 1.48%, the Nasdaq down 2.64%, and the S&P 500 down 1.76%. Large technology stocks fell across the board, with Nvidia down more than 8%, Broadcom down more than 6%, Amazon down more than 3%, and Tesla, Google, and Microsoft down more than 2%. Semiconductors, blockchain, and computer hardware sectors led the decline, with AMD down 13%, Dell Technologies down more than 7%, Bit Digital down more than 6%, Intel and Coinbase down more than 4%, Micron Technology down more than 3%, and Qualcomm and KLA-Tencent down more than 2%.

▌Trump: US 25% tariff on Mexican and Canadian goods will take effect on March 4

US President Trump said on March 3 local time that reciprocal tariffs will be levied on April 2, and the US 25% tariff on Mexican and Canadian goods will take effect on March 4. US President Trump said there is no room for consensus on tariffs on Mexico and Canada.

Golden Encyclopedia

▌What is DeFAI

DeFAI is the combination of DeFi's decentralized financial ecosystem with AI-driven analysis and automation. DeFAI is still in its early stages, focusing mainly on momentum trading similar to memecoins, so there is still a lot of room for rapid development. DeFAI represents a turning point in the Crypto asset industry.

Disclaimer: As a blockchain information platform, the articles published by Jinse Finance are for information reference only and are not intended as actual investment advice. Please establish the correct investment concept and be sure to enhance risk awareness.