The popular AI framework Virtuals Protocol will host an in-person meet-up in Hong Kong on Friday, January 17.

**February 27 Update** Per alternative data, today’s cryptocurrency Fear & Greed Index stands at 13 (down from 11 yesterday), signaling the market remains in "extreme fear" territory. Note: The index ranges from 0 to 100, with components including: - Volatility (25%) - Market Volume (25%) - Social Media Hype (15%) - Market Surveys (15%) - Bitcoin’s share of total market cap (10%) - Google Trends Analysis (10%)

On February 27th, per Coinbob Popular Address Tracker data, the swing-trading whale "pension-usdt.eth" continued building positions with 3x leverage and kept adding to its BTC long positions near $66,500 after BTC pulled back below $67,000 overnight and this morning. The whale’s current BTC long position size now stands at $67.3 million, with an average entry price of $66,860, boasting an unrealized profit of roughly $440,000—making it the largest on-chain BTC bull. This whale typically uses low leverage and short holding cycles (average ~30-hour holding period) to take large positions in BTC and ETH, targeting steady swing trading profits. Since last October, its cumulative profits have topped $24 million.

On February 27th, LayerZero Labs co-founder and CEO Bryan Pellegrino took to social media to announce: “As promised, all remaining STG held by the DAO has been burned. The redemption contract remains open to all. STG has now been rebranded as ZRO.”

On February 27th, Wikipedia co-founder Jimmy Wales shared a post on social media, stating: “Anyone who thinks Bitcoin will go to zero is probably mistaken. Its design is robust enough that it will continue to exist unless there’s an unforeseen cryptographic collapse or a surprise 51% attack — and even if those scenarios unfold, I believe it could persist through a fork.” However, Bitcoin might drop to a price point where only enthusiasts use it for casual purposes. Since it’s a total failure as a currency or store of value, it will never be the dominant currency of the future. For that reason, I recommend pegging its 2050 price target to below $10,000 in today’s dollars — and potentially much lower than that.

February 27th, per Cointelegraph, a bipartisan group of U.S. House lawmakers has introduced legislation to block prosecution of software developers who do not hold or control other people’s cryptocurrency. In a Thursday announcement, Representatives Scott Fitzgerald, Ben Cline, and Zoe Lofgren said they are backing the *Promoting Innovation in Blockchain Development Act*—a measure aiming to clarify how federal criminal cases involving blockchain developers are handled. The bill will clarify that the 1960 Travel Rule (part of U.S. federal law banning illegal money transmission businesses) applies only to entities that control other people’s digital assets. At least two crypto advocacy groups have publicly endorsed the bill: the Blockchain Association called it a “critical step” to support U.S.-based developers, while the DeFi Education Fund has backed lawsuits filed by developers like Roman Storm of Samourai Wallet.

**February 27 (Bloomberg) — JPMorgan said Wednesday the crypto market could still get a significant boost in the second half of 2024 if U.S. lawmakers pass comprehensive market structure legislation by mid-year, even as current sentiment remains subdued.** **In a research report, the bank noted the potential legislation would reshape market structure by: providing regulatory clarity, ending “enforcement-led regulation,” advancing tokenization, and driving greater institutional participation.** This rewrite aligns with U.S. news style: - Uses a concise lead (time + source + core claim) - Replaces wordy phrases (e.g., “referred to...as follows” → “noted...would reshape”) - Adopts financial industry common terms (e.g., “advancing tokenization” instead of “promoting”) - Keeps the tone direct and scannable, typical of American news briefs.