Zhao Changpeng remains the largest shareholder of Binance. Russia agrees to a 30-day ceasefire

Headline

▌Wall Street Journal: Zhao Changpeng remains Binance’s largest shareholder

According to the Wall Street Journal, Zhao Changpeng remains Binance’s largest shareholder (Zhao, widely known as CZ, remains Binance’s largest shareholder), and Binance has admitted to violating US anti-money laundering laws in 2023. Earlier news, people familiar with the matter revealed that representatives of the Trump family have held talks on acquiring a stake in the US branch of the cryptocurrency exchange Binance to explore business development.

▌Putin: Russia agrees to a 30-day ceasefire

Putin said that Russia agreed to a 30-day ceasefire, but Russia currently has an advantage on the Kursk front line. Whether the Ukrainian army retreats unscathed or lays down its arms and surrenders on the spot, these issues need to be resolved. Putin also said that how the parties supervise the ceasefire and how to resolve many details need further discussion. Putin said he might communicate with Trump on the above issues. (CCTV News)

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $81,323.71, with a daily increase or decrease of -2.7%;

ETH's latest transaction price is $1,876.35, with a daily increase or decrease of -1.6%;

BNB's latest transaction price is $577.04, with a daily increase or decrease of +0.8%；

SOL's latest transaction price is 123.46 US dollars, with a daily increase or decrease of -2.2%；

DOGE's latest transaction price is 0.1653 US dollars, with a daily increase or decrease of -3.7%；

XPR's latest transaction price is 2.26 US dollars, with a daily increase or decrease of +1.2%。

Policy

▌Turkey introduces new rules to strengthen cryptocurrency regulation

Turkey is advancing cryptocurrency regulation and developing new rules for crypto asset service providers (CASPs). On March 13, the Capital Markets Board of Turkey (CMB) issued two regulatory documents on the licensing and operation of CASPs, covering crypto trading platforms, custodians, and wallet service providers. The regulatory framework gives the CMB full regulatory authority over crypto platforms to ensure that they meet domestic and international standards. In addition, the framework also sets standards and requirements for establishing and providing crypto asset services in Turkey, including registered capital, management background, shareholder rules, etc.

▌The U.S. Senate Banking Committee voted to pass a bill aimed at regulating stablecoin issuers

The U.S. Senate Banking Committee has advanced a bill to regulate stablecoins in the crypto industry, an important first step in sending the bill to President Donald Trump to sign into law. With the first committee approval, the bill, which would regulate U.S. stablecoin issuers at the federal level, now needs to be passed by the entire Senate, with a similar version awaiting approval in the House. While there are still many hurdles to overcome, including the eventual merger of the two chambers' different bills, the bill has passed the committee by a vote of 18 to 6.

▌U.S. Treasury meets with three crypto companies to discuss Bitcoin reserve custody options

The U.S. Treasury Department met with executives from three crypto custody companies this week to discuss how to keep the country's strategic Bitcoin reserves, according to people familiar with the matter. Anchorage Digital was one of the institutions participating in the meeting. Anchorage CEO Nathan McCauley said Treasury officials asked in detail about the best practices for national reserves of Bitcoin and digital asset custody, and explored how custody affects stablecoins and market structure. Congressional sources said the Treasury Department is currently in the research stage and has not yet formed a clear position, but is actively seeking opinions from industry insiders. The current preference is for third-party institutions to custody the government's Bitcoin reserves, and the long-term goal is for the government to eventually achieve self-custody. As for the various types of seized digital assets controlled by the government, they may still need to rely on third-party custody for a long time. The U.S. Treasury Department did not comment on this.

▌The U.S. Senate Banking Committee advances the Financial Integrity and Regulation Management Act

The U.S. Senate Banking Committee voted 13-11 on Thursday to advance the Financial Integrity and Regulation Management Act. The bill will prohibit federal regulators from using reputation risk as an assessment factor in financial regulation. In addition, the committee has made a series of revisions to the bill, including adjusting the regulatory approach through the manager plan to ensure that bank supervision is adapted to its risk profile and business model.

Blockchain Applications

▌Coinbase International Station will launch REZ, GRASS, RARE perpetual contracts

According to the official announcement, Coinbase International Exchange and Coinbase Advanced will launch REZ, GRASS, and RARE perpetual contracts.

▌Jupiter announces the launch of the "Like" function for Solana Ecological Tokens

According to official news, Jupiter announced the launch of a new community verification system, where users can support Solana Ecological Tokens with one click by clicking the "Like" button. At the first launch, only X-verified accounts or smart accounts can click "Like". The user's X account will not be linked to its associated wallet.

Cryptocurrency

▌CZ: The Wall Street Journal report distorted the facts and did not discuss Binance US transactions

Binance Co-founder CZ posted on the X platform that the Wall Street Journal report distorted the facts, they worked hard to make up a story to report, and have not discussed Binance US transactions with anyone. No felon would mind a pardon. It feels like the motivation of this article is to attack President Trump and cryptocurrencies, and the remnants of the "cryptocurrency war" of the previous US government are still in effect. It's nice to see that even the Wall Street Journal thinks I should be pardoned.

▌People familiar with the matter: Trump's crypto project WLFI has discussed the possibility of cooperating with Binance to develop a stablecoin

Four people familiar with the matter revealed that Trump's crypto project WLFI had discussed cooperation with Binance Holdings Ltd., the world's largest digital asset trading platform. Binance's founder has previously admitted that he failed to take necessary measures to prevent terrorists and entities in sanctioned countries from using its services. It is unclear at what stage these discussions have progressed or whether they will eventually lead to a deal or cooperation project. These people familiar with the matter requested anonymity because the negotiations are private. Two of them said that the discussions included the possibility that Binance might work with WLFI to develop a stablecoin - a cryptocurrency pegged to the US dollar. Trump and his son began promoting the company last September, and according to its founding documents, the Trump family is entitled to three-quarters of WLFI's net income.

Important Economic Dynamics

▌Wall Street is in a gold rush, but investors should be wary

Analyst Karishma Vanjani said Wall Street is in a gold rush, but investors should be careful. JPMorgan Chase and Goldman Sachs recommend holding on to gold, BNP Paribas just raised its gold price forecast, and BlackRock has been recommending buying gold to diversify portfolios for months. So far, these recommendations have been correct. But it is not without risks. First, gold is arguably overvalued, given that it has been in a bull market since September 2022. This raises the possibility that gold prices have largely reflected the potential of this period, making it vulnerable to a correction. These gains may attract early investors to sell to lock in profits. Second, gold may also struggle in the event that the US government's efforts to reform the federal government prove to be successful. Furthermore, economic growth is negatively correlated with gold. When the economy is booming, investors tend to favor riskier assets such as stocks rather than gold, which has lost its appeal.

▌The United States will impose more sanctions on Russia's oil, gas and banking sectors

According to CBS, the United States will impose more sanctions on Russia's oil, gas and banking sectors.

Golden Encyclopedia

▌What is a cold wallet?

A cold wallet is a cryptocurrency storage method that is kept offline and disconnected from the internet. This setup makes it more difficult for hackers to access funds remotely. Examples include: hardware wallets (e.g. Ledger, Trezor), paper wallets, isolated computers (devices that have never been connected to the internet).

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