1. David Sacks interprets Trump's mention of XRP, Solana, and Cardano. 2. Yescoin partner Wang Mouxin denies any actual investment relationship with Zhang Chi and other projects. 3. The Supreme Procuratorate's work report: 3,032 people will be prosecuted in 2024 for money laundering crimes involving the use of "virtual currency" to transfer criminal proceeds. 4. The National Bank of Cambodia revokes the banking license of Huibang Payment. 5. Former Georgian Prime Minister's assistant suspected of embezzling the former Prime Minister's Bitcoin and fleeing abroad. 6. Wu Says Zhou's selection: Trump signs an executive order on U.S. strategic Bitcoin reserves, the White House hosts a crypto summit and news Top 10.

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<div>1. David Sacks Explains Trump's Mention of XRP, Solana, and CardanoDavid Sacks, the head of AI and cryptocurrency affairs at the White House, explained the reason behind Trump's mention of XRP, Solana, and Cardano in his statement regarding the U.S. cryptocurrency strategic reserve. Sacks stated that Trump merely listed the top five cryptocurrencies by market cap and that there is no need for over-interpretation. He also noted that it remains unclear whether the federal government holds these tokens and emphasized that an executive order has called for a comprehensive audit of the government's current digital asset reserves. Additionally, the government may consider lending or staking its held cryptocurrency assets, with the Treasury Secretary and his team determining whether to rebalance, sell, or engage in other asset management operations based on long-term interests.2. Yescoin Partner Wang Mouxin: Zhang Chi Has No Actual Investment Relationship with 3WW3 or Any Other ProjectsWang Mouxin, a partner mentioned in Yescoin's official Twitter, published a lengthy statement indicating that Zhang Chi has no actual investment relationship with either 3WW3 or any other project; since the project launched in February until early June, Zhang Chi has not participated in any work, focusing entirely on his own Tonverse project. In July, Zhang Chi was involved in planning and initiating an illegal seizure incident, unlawfully stripping founding partner Wang Mouxin of his rights and illegally inciting members to take control of the project. On October 31, there was a conspiracy on Lark to schedule the code information related to the online core revenue, preparing for the illegal seizure of online income.3. Supreme People's Procuratorate Work Report: 3032 People to Be Prosecuted for Money Laundering Crimes Using "Virtual Currency" Starting in 2024Chief Prosecutor of the Supreme People's Procuratorate, Ying Yong, presented the work report at the third session of the 14th National People's Congress, stating that in 2024, the procuratorial authorities will prosecute 825 individuals for financial fraud, insider trading, and other securities-related crimes, and 3032 individuals for money laundering crimes involving the transfer of criminal proceeds using "virtual currency".4. The National Bank of Cambodia Revoked the Banking License of Huibao PaymentThe National Bank of Cambodia has revoked the banking license of Huibao Payment, which has been accused of operating the world's largest illegal online trading platform, with a case amounting to as much as 24 billion USD. A spokesperson for the National Bank of Cambodia revealed to the media that Huibao Payment's banking license was revoked for failing to comply with current regulations and the requirements of regulatory authorities.5. Former Georgian Prime Minister's Assistant Fled Abroad After Embezzling BitcoinVenture capitalist George Bachiashvili is on trial for allegedly embezzling investment gains from former Georgian Prime Minister Bidzina Ivanishvili. Bachiashvili embezzled 8,253.13 bitcoins between 2015 and 2017. He used Ivanishvili's personal funds as collateral to obtain a loan of 5 million USD from Cartu Bank, which he invested in Bitcoin mining through Bitfury. Ivanishvili's wealth is estimated to be as high as 7.60 billion USD, equivalent to a quarter of Georgia's GDP. Bachiashvili was previously released on bail but has now fled to a third country.6. Wu Says Zhou Selection: Trump Officially Signs Executive Order for U.S. Strategic Bitcoin Reserves, White House Hosts Cryptocurrency Summit and News Top 10<blockquote>Top 10 News This Week</blockquote><blockquote>1. Trump Has Signed an Executive Order to Establish Strategic Bitcoin Reserves <a href="https://x.com/davidsacks47/status/1897802280738734236">link</a></blockquote>David Sacks, the head of AI and cryptocurrency affairs at the White House, tweeted that Trump has signed an executive order to establish strategic Bitcoin reserves, funded by Bitcoin obtained by the federal government through criminal or civil asset seizure processes, without involving taxpayer money. These bitcoins will serve as a store of value and will not be sold. Additionally, the executive order sets up a U.S. digital asset reserve to hold confiscated digital assets other than Bitcoin but will not involve further acquisitions of new assets. This reserve will be managed by the U.S. Department of the Treasury.Fox reporter Eleanor Terrett provides an in-depth analysis of Trump's establishment of the strategic Bitcoin reserve and the digital asset reserve. The strategic reserve will only contain BTC, with initial funding coming from approximately 200 thousand BTC obtained by the government through criminal and civil seizures, and Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick are authorized to explore BTC procurement options that do not increase the taxpayer burden. Meanwhile, the digital asset reserve will include other digital assets besides BTC, expected to include XRP, ADA, ETH, and SOL, but the government will not actively purchase these assets. The government will only explore using funds to purchase BTC under potentially "budget-neutral" schemes.The executive order also requires a comprehensive audit of all digital assets held by the government to ensure responsible management of these assets by the Treasury Department.Alex Xu pointed out that there are limited actions Trump can take at the executive level. During the campaign, he mentioned establishing a BTC strategic reserve (at the executive level), creating a dedicated crypto advisory committee, dismissing/forcing out SEC Chair Gary Gensler, and relaxing industry regulations, most of which have been done. However, at an overall level, commitments have not been fully realized; Trump clearly stated during his campaign that he would also build a Strategic Federal Reserve to purchase more BTC, which is also part of the legislation pushed by Senator Cynthia Lummis in Congress.According to the full text of the White House executive order, the Treasury Secretary is to establish an office to manage and control a trust account collectively referred to as the "strategic Bitcoin reserve," which will hold all BTC owned by the Treasury Department. These BTC will ultimately be seized as part of criminal or civil asset forfeiture proceedings, or seized to satisfy any civil penalties imposed by any department or agency (agencies); within 30 days from the date of this order, agencies are to review their authority to transfer any government-held Bitcoin to the strategic Bitcoin reserve and submit a report reflecting the results of the review to the Treasury Secretary.Analyst @kanazawa0x0 pointed out that future U.S. fiscal neutrality strategies for purchasing Bitcoin include: continuing judicial forfeiture; selling gold to buy Bitcoin; allocating other fiscal revenues specifically for Bitcoin purchases; and using existing underutilized computing resources or energy for Bitcoin mining.According to Axios, U.S. Senator Elizabeth Warren issued a critical letter to government crypto and AI affairs head David Sacks on the day of the White House's first digital asset summit, questioning the potential conflicts of interest of him and related officials in policy-making. Warren noted that the Trump administration's push for the crypto industry could inflate the value of existing assets and demanded disclosure of the identities and investment situations of officials involved in the crypto strategic reserve decision-making. Sacks previously stated that he had cleared his personal crypto asset holdings, but the Bitwise index fund he previously invested in contains the five strategic reserve assets (BTC, ETH, SOL, XRP, ADA) announced by Trump earlier.<blockquote>2. Trump May Approve Congressional Resolution to Overturn IRS Crypto Tax Rules <a href="https://www.coindesk.com/policy/2025/03/04/president-warming-up-his-pen-to-sign-resolution-to-kill-irs-crypto-rule-if-passed?utm_medium=social&amp;utm_source=twitter&amp;utm_term=organic&amp;utm_content=editorial&amp;utm_campaign=coindesk_main">link</a></blockquote>Sources revealed that if Congress passes a resolution to overturn the IRS's new rules related to cryptocurrencies, President Donald Trump may approve it. The regulation requires certain DeFi participants to report total earnings from crypto asset transactions and related taxpayer information. The Congressional Review Act (CRA) resolution proposed by Republican Senator Ted Cruz has received bipartisan support in the Senate with a vote of 70–28, indicating that many Democratic senators also agree to advance the discussion. The resolution still needs to pass both the Senate and the House before being sent to Trump for approval.<blockquote>3. U.S. Treasury Secretary Bessent: We Are Determined to Lower Interest Rates <a href="https://www.fxstreet.com/news/us-treasury-sec-bessent-were-set-on-bringing-interest-rates-down-202503041240">link</a></blockquote>U.S. Treasury Secretary Scott Bessent stated during an interview with Fox News on Tuesday that they intend to lower interest rates. Bessent noted, "China's business model is export-oriented, which is unacceptable." He added that he is very confident that Chinese manufacturers will "bear the tariffs."<blockquote>4. The White House Will Host Its First Cryptocurrency Summit on March 7 <a href="https://www.wublock123.com/index.php?m=content&amp;c=index&amp;a=show&amp;catid=6&amp;id=38720">link</a></blockquote>The White House will host its first cryptocurrency summit on March 7. Fox Business reporter Eleanor Terrett stated that President Trump will attend and speak at the inaugural White House cryptocurrency summit on March 7. Attendees will include prominent founders, CEOs, and investors from the cryptocurrency industry, as well as members of the President's Digital Asset Working Group. The summit will be hosted by White House AI and cryptocurrency czar David Sacks, and managed by the group's executive director Bo Hines.Multiple executives from the cryptocurrency industry have confirmed their attendance at the White House cryptocurrency summit on Friday. Those confirmed to attend include Michael Saylor, founder of Strategy; David Bailey, CEO of Bitcoin Magazine; Matt Huang, co-founder of Paradigm; J.P. Richardson, CEO of Exodus; Kyle Samani, co-founder of Multicoin Capital; Zach Witkoff, co-founder of World Liberty Financial; Sergey Nazarov, co-founder of Chainlink; Brian Armstrong, CEO of Coinbase; Vlad Tenev, CEO of Robinhood; and Arjun Sethi, CEO of Kraken.<blockquote>5. The European Central Bank has lowered the deposit facility rate by 25 basis points to 2.5% <a href="https://www.wublock123.com/index.php?m=content&amp;c=index&amp;a=show&amp;catid=6&amp;id=39043">link</a></blockquote>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 meeting of rate cuts. The main refinancing rate and the marginal lending rate have been reduced from 2.90% and 3.15% to 2.65% and 2.90%, respectively.<blockquote>6. El Salvador's $1.40 billion International Monetary Fund loan agreement includes Bitcoin regulatory conditions <a href="https://x.com/BitcoinNewsCom/status/1896710938578817038">link</a></blockquote>The new terms of the International Monetary Fund (IMF) loan reveal key measures El Salvador must take regarding Bitcoin: ending public participation in Chivo (the government-backed digital wallet) by July 2025 and ceasing the use of public funds; liquidating the Fidebitcoin trust and publishing audited financial data; establishing a Bitcoin management framework for government-held BTC; publicly disclosing all cold and hot wallet addresses and BTC holdings to the IMF; and undergoing regular reviews by the IMF to ensure compliance before 2025.El Salvador President Nayib Bukele stated that the country’s Bitcoin purchasing activities will not cease, countering various predictions of its termination.<blockquote>7. The Australian government currently has no plans to establish a strategic reserve for cryptocurrencies <a href="https://cointelegraph.com/news/australia-government-no-plans-crypto-reserve">link</a></blockquote>The current Australian government stated that there are no plans to establish a strategic reserve for cryptocurrencies. A spokesperson for Assistant Treasurer and Minister for Financial Services Stephen Jones mentioned that the Albanese government is focusing on regulating digital asset platforms and is developing a regulatory framework suitable for digital assets. Tom Matthews, head of corporate affairs at Australian exchange Swyftx, believes that while the idea of a crypto reserve is popular, it may be "fraught with complexities" and could lead to concentration risks for certain tokens. Jonathan Miller, managing director of Kraken Australia, stated that cryptocurrencies have established their status as investable assets.<blockquote>8. Bybit has laundered all 499,000 ETH stolen, a process that took 10 days <a href="https://x.com/EmberCN/status/1896728373340303440">link</a></blockquote>During this time, the price of ETH fell by 23%, from $2,780 to $2,130. The hacker primarily laundered the funds through THORChain, which consequently saw $5.90 billion in transaction volume and $5.50 million in fee income. SlowMist reported that Bybit lost nearly $1.50 billion in ETH assets; aside from a portion being recovered, the rest has left the Ethereum network, with the majority entering the Bitcoin network and undergoing complex laundering operations on Bitcoin, benefiting the node operators of THORChain.<blockquote>9. Tether freezes $27 million USDT from the Russian crypto exchange Garantex <a href="https://cointelegraph.com/news/tether-freezes-27-million-usdt-sanctions-garantex-russia">link</a></blockquote>The stablecoin issuer Tether has frozen $27 million USDT from the Russian crypto exchange Garantex, resulting in the platform suspending all trading and withdrawal services, with the website entering maintenance mode.Garantex warned in a Telegram announcement that USDT held by users is under threat and stated that it will fight to the end. This move follows the European Union's 16th sanctions against Russia on February 26, which specifically targets Garantex due to its ties with sanctioned Russian banks. The U.S. Treasury had already sanctioned Garantex as early as April 2022. Tether has not yet responded to the reasons for the freeze.<blockquote>10. Sam Bankman-Fried claims political donations influenced sentencing <a href="https://www.coindesk.com/policy/2025/03/06/sbf-shocked-by-democrats-crypto-stance-prior-to-ftx-collapse">link</a></blockquote>In an interview with Tucker Carlson, Sam Bankman-Fried stated that before the collapse of FTX, he had begun to make political donations to the Republican Party comparable to those made to the Democratic Party, suggesting that this may have influenced the outcome of his 25-year sentence. Bankman-Fried also criticized former U.S. SEC Chairman Gary Gensler, claiming that the regulatory environment during his tenure was extremely unfavorable to crypto businesses and accused the legal community of playing a negative role in the FTX bankruptcy case.<blockquote>Key Funding Events</blockquote><ul><li>YZi Labs announced an investment in the decentralized AI lab Tensorplex Labs <a href="https://x.com/yzilabs/status/1897678910361625016">link</a></li><li>Across Protocol raised $41 million by selling its ACX tokens to investors <a href="https://www.theblock.co/post/344470/paradigm-leads-token-round-across-protocol-ethereum">link</a></li><li>DoubleZero Foundation completed a $28 million funding round at a valuation of $400 million <a href="https://www.coindesk.com/business/2025/03/05/doublezero-internet-400-million?utm_source=twitter&amp;utm_term=organic&amp;utm_campaign=coindesk_main&amp;utm_medium=social&amp;utm_content=editorial">link</a></li><li>French crypto market maker Flowdesk completed a $102 million funding round and plans to launch crypto lending services <a href="https://www.theblock.co/post/344389/crypto-market-maker-flowdesk-102-million-new-funding">link</a></li><li>Social gaming company ACID Labs announced the completion of an $8 million funding round <a href="https://decrypt.co/308319/acid-labs-raises-8m-from-a16z-speedrun-nfx-to-scale-instant-social-games-on-chatapps">link</a></li><li>The decentralized AI protocol Prime Intellect announced the completion of a $15 million funding round <a href="https://www.primeintellect.ai/blog/fundraise">link</a></li><li>MEV infrastructure FastLane Labs announced the completion of a $6 million funding round <a href="https://x.com/0xFastLane/status/1896636501615849575">link</a></li><li>Argo Blockchain signed a $40 million funding agreement to support its merger and acquisition activities <a href="https://x.com/ArgoBlockchain/status/1896458496587313283">link</a></li><li>The liquidity proof staking protocol Infrared completed a $14 million Series A funding <a href="https://www.coindesk.com/business/2025/03/04/infrared-raises-usd16m-to-roll-out-first-liquidity-staking-protocol-on-berachain">link</a></li><li>The privacy blockchain project Seismic announced the completion of a $7 million seed round funding <a href="https://x.<li>Cryptocurrency brokerage August completed a $10 million funding round <a href="https://fortune.com/crypto/2025/03/06/crypto-prime-brokerage-august-raises-10-million-dragonfly-ventures/">link</a></li><li>AI crypto company Validation Cloud announced the completion of a $15 million Series A funding round <a href="https://fortune.com/crypto/2025/03/06/ai-crypto-validation-cloud-fundraise-series-a-true-global-ventures/?utm_campaign=62956786-Series%20A_March%202025&amp;utm_content=367258813&amp;utm_medium=social&amp;utm_source=twitter&amp;hss_channel=tw-1148699042135887872">link</a></li></ul>For more industry funding events, please visit <a href="http://crypto-fundraising.info/">crypto-fundraising.info</a>.

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