Wu Says Daily Selected Crypto News - European Central Bank Cuts Deposit Facility Rate by 25 Basis Points to 2.5%

The European Central Bank has lowered the deposit facility rate by 25 basis points to 2.5%, in line with market expectations, marking the fifth consecutive rate cut at its meetings. The main refinancing rate and marginal lending rate have been lowered from 2.90% and 3.15% to 2.65% and 2.90%, respectively.

2. Hong Kong Chief Executive John Lee's Twitter Account Suspected of Being Hacked to Post Token-Related Content, Government Confirms Scam

A Twitter account named after Hong Kong Chief Executive John Lee is suspected of being hacked, posting content related to tokens and warning users to be cautious of risks. Although the account displays a gray government verification badge, it is believed to have been renamed after being compromised by an Indian-related organization. Hong Kong Legislative Council members have raised concerns.

3. Tether Freezes $27 Million USDT of Russian Exchange Garantex

Stablecoin issuer Tether has frozen $27 million worth of USDT belonging to the Russian exchange Garantex, causing the platform to suspend all trading and withdrawal services, and its website is now in maintenance mode. Garantex warned users via Telegram that their USDT holdings are at risk and stated that they will fight back. This action follows the EU's 16th sanctions against Russia on February 26, specifically targeting Garantex due to its ties with sanctioned Russian banks. The U.S. Department of the Treasury had already imposed sanctions on Garantex in April 2022. Tether has not yet responded regarding the reason for the freeze.

4. U.S. Begins Releasing Some Seized Chinese-Made Crypto Mining Machines, Many Devices Still Unreleased

The U.S. has recently begun to release some of the previously seized Chinese-made cryptocurrency mining machines, with up to 10,000 devices having been held at various entry points. Taras Kulyk, CEO of Synteq Digital, revealed that thousands of devices have been released, and mentioned that some U.S. Customs and Border Protection (CBP) personnel have a negative attitude towards Bitcoin mining, which is hindering the industry. Ethan Vera, COO of Luxor Technology, confirmed that some seized devices have been released, but a large number remain unreleased, noting that concerns from regulators regarding the radio frequency emissions of mining machines are unfounded.

5. Singapore Officials Warn Public to Stay Away from Cryptocurrencies

Singapore's Minister of State for Home Affairs, Sun Xuelin, stated that cryptocurrencies accounted for a quarter of the total losses from scams last year; in the highest-profile case, a victim lost about 125 million Singapore dollars after clicking on a fake meeting link and downloading and running malicious code on their computer. "Our advice to the public is to stay away from cryptocurrencies. The risk of getting 'burned' is very high, and if you become a victim of a scam, the chances of recovering even a penny are very slim," she said.

6. Russian Finance Ministry Says It Will Not Include Crypto Assets in National Welfare Fund Investment Structure

According to the International News Agency, Vladimir Kolychev, Deputy Minister of Finance of Russia, stated to reporters that the Finance Ministry does not plan to change the current investment structure of the National Welfare Fund, particularly by including crypto assets—due to their high volatility, and the current level of accumulation in the National Welfare Fund does not allow for consideration of high-risk investments. Currently, the regulatory structure of the National Welfare Fund allows for a maximum share of 60% in RMB and 40% in gold. Kolychev noted that he had not heard of any discussions in Russia about creating a cryptocurrency strategic reserve similar to the plan proposed by the Trump administration.