The overall market value of stablecoins increased by $7.7 billion in February, highlighting the growing demand for "digital dollars" in the crypto market. The main situation of the stablecoin market in February is as follows: USDS market value increased by 64%, PYUSD increased by 49%, USDT market value reached approximately $143 billion (an increase of $2.5 billion in February alone), USDC increased by 7%. However, the market value of USDe and DAI decreased.

David Marcus, former head of Meta's cryptocurrency business and co-founder and CEO of Lightspark, confirmed in a post on social media X that he was invited to participate in the first White House cryptocurrency summit.

Some US government agencies are still refusing to provide transparency regarding their involvement in Operation Chokepoint 2.0, a period during the Biden administration where crypto and tech founders were reportedly denied banking services, as stated by Coinbase's chief legal officer Paul Grewal. The collapse of crypto-friendly banks in early 2023 led to initial accusations of Operation Chokepoint 2.0. Critics, such as venture capitalist Nic Carter, characterized it as a government initiative to pressure banks into severing ties with cryptocurrency companies. Despite recent regulatory changes, agencies like the Federal Deposit Insurance Corporation (FDIC) are still resisting efforts for transparency, according to Grewal. He mentioned that the FDIC has been uncooperative in providing details on their due diligence process and has refused to comply with requests for documentation related to the events. Additionally, Grewal highlighted that the FDIC has heavily redacted documents and only provided snippets in response to Freedom of Information Act (FOIA) requests.

The German "Wirtschaftswoche" website published an article by economist Desmond Rahmann on the 7th titled "Trump may trigger a new European debt crisis." The article believes that various signs indicate that the new US government is targeting Europe, especially Germany, as its next target in the trade war. European decision-makers should prepare for a trade war. The US recently threatened to impose a 25% tariff on products imported from the EU. However, the US government may want to consider the economic difficulties on the European continent: the German economy is currently in a slump, while Italy and France are working to address more serious public debt issues. Perhaps by then, the US government will realize that its tariff policy - as part of the "America First" agenda - may trigger an economic recession in Europe and a debt crisis in the Eurozone.

The market shows BTC falling below $86,000, now trading at $85,975.56, with a 24-hour decline of 3.51%. The market is fluctuating significantly, please manage your risks.

On March 8th, according to a statement released by the Greater Memphis Chamber in Tennessee on March 7th local time, Musk's artificial intelligence company xAI has purchased a property in the southwest part of Memphis covering 1 million square feet, as another expansion move after announcing the expansion of the supercomputer "Colossus" in the city last December. The statement mentioned that the new facility will complement xAI's existing business and support the company's expansion in Memphis. The Greater Memphis Chamber stated that the supercomputer "Colossus" is advancing towards xAI's announced "supercluster scale" last December.

According to IntoTheBlock data, the total amount of BTC held by whales has dropped to the lowest level since 2019, hitting a new low in six years.

Around 17:48 local time this afternoon, Yoon Seok-yul was released and left the Seoul detention center to return to the presidential residence. Yoon Seok-yul was arrested on January 15 this year and entered the Seoul detention center on January 19, becoming the first president of South Korea to be sent to a detention center while in office. After being released, Yoon Seok-yul will continue to undergo trial in a non-detention status, including the impeachment case and criminal cases involving charges of insurrection. Currently, the public hearings of the constitutional court in South Korea on Yoon Seok-yul's impeachment case have all concluded, and a verdict is expected in mid-March, while the trial on charges of insurrection is still ongoing.

On March 8th, the official account of the Chinese AI intelligent body enterprise ManusAI has been restored. "We are back, just a reminder, this is our only official account, and we will continue to share cool use cases in the future, stay tuned." ManusAI (ManusAI_HQ) official account pointed out. Manus' chief scientist and co-founder Ji Yichao also announced this news for the first time, and reiterated: "Manus has never participated in any cryptocurrency projects, token issuance, blockchain launches, etc. Any virtual currency with a similar name, claims related to us are false." 

US Congressman Hill said that Trump should cooperate with Congress on the issue of Bitcoin reserves.

According to crypto analyst Ali Martinez, data revealed on Platform X shows that Bitcoin miners have not engaged in selling behavior since February 28th.

According to DefiLlama data, the total market value of stablecoins on the entire network is reported to be $2273.59 billion, with a growth of 1.03% in the past week, and USDT's market share is 62.98%.

On March 8th, Linea Discord community administrators stated that the TGE will not take place in Q1. The team will announce progress once the final schedule is determined. In November last year, the Ethereum zkEVM L2 Rollup Linea developed by ConsenSys announced the establishment of the Linea Association, aimed at promoting Linea governance. Previous reports indicated that the project's TGE would take place in Q1 of this year.

CZ shared his thoughts on tokenizing KOL time on Binance Square. CZ said that YZiLabs may invest in a project that uses BNB/BSC as the main payment option to develop a good MVP. This should require a few days/weeks of coding and security review. If the platform is secure enough, I will be the first user.

Santiment posted on X platform that in the past 48 hours, whales have purchased 1.1 million ETH.

The Financial Industry Regulatory Authority (FINRA) in the United States issued a press release on March 7th local time, stating that it has ordered Robinhood Financial to pay $3.75 million to customers, and fined Robinhood Financial and Robinhood Securities $26 million for violating multiple FINRA rules, including failing to respond to warning signs of potential improper behavior. In the settlement agreement, both companies accepted the findings of the FINRA investigation without admitting or denying the charges, and agreed to commit to addressing the related issues.

Offchain Labs CEO Steven Goldfeder said that the US cryptocurrency reserves should only focus on Bitcoin at least for now. Goldfeder believes that Bitcoin has emerged in a universally accepted way and focusing on Bitcoin is the cleanest and easiest move. He said that allowing other assets into the market is risky because regulatory agencies do not understand the complexity of all cryptocurrencies and do not know who is pushing for each cryptocurrency to be included in the market. In addition, if the US were to establish reserves focused on US cryptocurrencies, Steven Goldfeder believes that Arbitrum's native token ARB should be at the top.

Former U.S. Securities and Exchange Commission (SEC) commissioner Michael Piwowar said in an interview that compared to other cryptocurrency-related issues, Memecoins may be a case that the SEC can more easily resolve. He said that Memecoins can be considered commodities, but the Commodity Futures Trading Commission must publicly declare this.

The Solana SIMD-0228 proposal has now started voting. According to Dune data, the current approval rate is 7.4% and the disapproval rate is 1.1%.

The South Korean Prosecutor's Office gave up appealing the court's decision to "cancel the detention of Yoon Suk-yeol" on the 8th, and Yoon Suk-yeol will be released later. (Jinshi)