News
Reddit invested surplus cash into BTC and ETH with scope to do similar purchases in the future. Link
SoSoValue reports that on February 21st, Bitcoin spot ETFs experienced a total net outflow of US$35.66 million, marking the first single-day net outflow after 17 consecutive days of net inflows. The Grayscale ETF GBTC saw a net outflow of $199 million, while the BlackRock ETF IBIT recorded net inflows of $96.52 million. Link
SBF announced Marc Mukasey as his defence lawyer for his next court appearance. Mukasey previously defended Celsius founder Alex Mashinsky against DOJ charges of securities fraud and more. Link
Coinbase has requested the SEC to approve Grayscale's Ethereum spot ETF application, arguing that ETH meets the Commission's ETP standards and is considered a commodity, not a security, by the SEC, CFTC and the market. Link
Projects
ZK - The Ethereum Foundation has opened its first round of ZK funding, collaborating with Aztec, Polygon, Scroll, Taiko and zkSync. Each partner is contributing $150,000 to a collective prize pool, amounting to $900,000 in total. The deadline for applications is March 18th, 2024. Link
MATIC - 273 million MATIC, worth about US$253 million, were moved from the Matic vesting contract to the Matic Foundation address, marking the final token unlock transfer for MATIC. Link
TRON - Tron's fee revenue reached a record $1.758 million on February 20th, as reported by Tronscan, with 12,622,236 TRX burned. This revenue is calculated from the daily TRX burn volume and its closing price on CoinMarketCap. Link
YFI - OKX plans to delist YFII spot trading pairs (YFII/USDC and YFII/USDT) between 8:00 am and 8:30 am UTC on February 29th 2024, due to their failure to meet OKX's listing criteria. Link
RENZO - Binance Labs announced their investment in Renzo, a Liquid Restaking Token on EigenLayer. Link
Disclaimer: This research report is exactly that — a research report. It is not intended to serve as financial advice, nor should you blindly assume that any of the information is accurate without confirming through your own research. Bitcoin, cryptocurrencies, and other digital assets are incredibly risky and nothing in this report should be considered an endorsement to buy or sell any asset. Never invest more than you are willing to lose and understand the risk that you are taking. Do your own research. All information in this report is for educational purposes only and should not be the basis for any investment decisions that you make.