KEYTAKEAWAYS
- Institutional and regulatory activity intensifies with Trump's planned address at the White House Crypto Summit and Arizona Senate passing two crypto reserve bills.
- February becomes most devastating month for crypto security with $1.51B in losses from 20 attacks, dominated by the $1.4B Bybit incident.
- Bitcoin ETFs experienced $3.55B in February outflows while global markets showed divergent trends with Hong Kong fund inflows surging 65-fold.
CONTENT
Welcome to the CoinRank Crypto News Roundup. CoinRank will provide daily important crypto news in this column series, allowing readers to quickly obtain the latest crucial updates from the cryptocurrency market.
MORNING NEWS
1. State-Level Bitcoin Reserves Likely to Precede Federal Action
Wyoming Senator Cynthia Lummis stated that state-level Bitcoin strategic reserves will likely emerge before any federal initiative, according to Fox Business reporter Eleanor Terrett. Lummis noted there are currently insufficient supporters in both the House and Senate to establish a federal Bitcoin strategic reserve.
2. Solana Memecoin Issuance Hits Three-Month Low
Daily memecoin issuance on the Solana network has fallen to 40,000, the lowest level since December 25, 2024, according to Cointelegraph data. This decline reflects cooling enthusiasm in the once-booming Solana memecoin sector.
3. Trump to Address White House Cryptocurrency Summit
President Trump will attend and deliver a speech at the first White House Cryptocurrency Summit on March 7, Fox Business reporter Eleanor Terrett revealed. The event will feature prominent founders, CEOs, and investors from the cryptocurrency industry alongside members of the President’s Digital Asset Task Force. White House AI and Crypto Czar David Sacks will host the summit, with task force executive director Bo Hines managing the proceedings.
4. Ukraine Advances Cryptocurrency Legalization
Ukraine is progressing with cryptocurrency legalization, with lawmakers expected to vote on relevant legislation in the coming months. Uncertainty remains regarding taxation, with officials considering rates between 5-10% or adopting a standard framework of 18% income tax plus 5% military tax, bringing the total to 23%. The legislation is expected to be finalized by mid-2025.
5. Arizona Senate Passes Two Crypto Reserve Bills
The Arizona Senate has passed two cryptocurrency reserve bills. The Strategic Digital Asset Reserve Act (SB 1373) was approved with 17 votes in favor and 12 against, establishing a digital asset strategic reserve fund managed by the state treasurer. Simultaneously, the Strategic Bitcoin Reserve Act (SB 1025) passed with 17 votes in favor and 11 against, authorizing public funds to invest directly in cryptocurrencies. Both bills have been forwarded to the state legislature for further consideration.
NOON NEWS
1. Solana Co-Founder Views Bitcoin as “Insurance”
Solana co-founder Anatoly Yakovenko (Toly) characterized Bitcoin not as a value investment but as “insurance” against systemic collapse. He stated, “Based on my life experience, a superpower has a 1% chance of collapse every year. For me, it’s worth spending 1% of my wealth on some assets that may not go to zero in that environment.” He emphasized that Bitcoin can serve this function regardless of whether it’s priced at $100,000 or $10,000.
2. Movement Labs Prepares for Public Mainnet Launch
Movement Labs co-founder Rushi Manche announced that the project’s public mainnet has been launched internally, with the official public launch pending completion of the Gnosis Safe security process with bridge partners.
3. Ethereum ETFs Report Net Outflows
According to SoSoValue data, Ethereum spot ETFs experienced a total net outflow of $41.82 million on February 28. Grayscale’s Ethereum Trust ETF (ETHE) recorded a single-day net outflow of $11.66 million, bringing its historical net outflow to $4.075 billion. As of press time, the total net asset value of Ethereum spot ETFs stood at $8.063 billion, representing 3.02% of Ethereum’s total market value, with historical cumulative net inflows reaching $2.819 billion.
4. India Seizes $2.75M in Crypto During Gainbitcoin Scam Investigation
India’s Central Bureau of Investigation (CBI) has seized cryptocurrencies worth 239.4 million Indian rupees (approximately $2.75 million) during a nationwide operation targeting the Gainbitcoin scam. The agency conducted searches at over 60 locations across major Indian cities from February 25-26, 2025, targeting individuals and entities suspected of money laundering fraud.
5. TRUMP Token Surpasses $14 as Trump Organization Files Metaverse Trademark
OKX market data shows that the TRUMP token briefly exceeded 14 USDT and currently trades at 14.01 USDT, representing a 24-hour increase of 21.76%. This price movement follows news that the Trump Organization has applied for a TRUMP trademark to launch a metaverse and NFT trading platform.
EVENING NEWS
1. Musk Criticizes Memecoins on Joe Rogan Podcast
Elon Musk strongly criticized memecoins during his latest appearance on the Joe Rogan Experience podcast, comparing them to a “casino” and warning participants against investing their life savings in such assets. While discussing Dogecoin, Musk noted it was originally created as a joke cryptocurrency. Joe Rogan expressed his belief that the memecoin craze has become excessive, particularly concerning real-money investments.
2. CZ Reflects on Early Bitcoin Investment Journey
In response to previous disclosures about selling his house in 2013 to invest in Bitcoin, Binance co-founder CZ provided additional context, explaining that the house sold for less than $1 million. Shortly after purchasing Bitcoin, its price fell from $600 to $200 and remained depressed for approximately 18 months. CZ noted that he was able to withstand this market decline and maintain his moderate standard of living thanks to his income.
3. Bitcoin ETFs Record Significant February Outflows
Data from Trader T reveals that U.S. Bitcoin ETFs experienced net outflows of approximately 40,000 BTC (worth about $3.546 billion) in February. During this period, Bitcoin’s price fell from $102,400 to $84,300, a decline of about 18%. Notable movements included BlackRock’s IBIT reducing holdings by approximately 9,740 BTC (currently holding 573,136 BTC) with outflows of about $721 million, Fidelity’s FBTC outflows of $1.202 billion, and Grayscale outflows of $585 million.
4. Hong Kong Fund Inflows Surge 65-Fold
According to the Hong Kong Investment Funds Association, total sales of retail funds in 2024 reached $81.698 billion, a 47% increase over 2023 and a three-year high. Net fund inflows reached $12.319 billion, representing a nearly 65-fold increase from $187 million in 2023. The association’s CEO noted that while fund tokenization and virtual assets are still in their early stages, these areas are expected to bring new business models and significantly impact the future development of the fund industry.
5. February Sets Record for Crypto Hack Losses
PeckShieldAlert monitoring reported 20 cryptocurrency hacker attacks in February, resulting in losses of approximately $1.51 billion — making it the most devastating month in cryptocurrency history. The Bybit incident alone accounted for $1.43 billion, ranking as the largest intrusion incident in the past five years. The top five February attacks were: Bybit ($1.4 billion), Infini ($49.5 million), zkLend ($9.66 million), Ionic ($8.6 million), and Suji Yan ($4 million).
▶ Buy Crypto at Bitget
CoinRank x Bitget – Sign up & Trade to get $20!
