SEC Commissioner Releases "Crypto 2.0: Regulatory Whiplash," States Enforcement Action Against Coinbase Harms Regulatory Reputation

On March 1st, the yield on the 3-year U.S. Treasury note dipped below 4% for the first time since October of the previous year. Furthermore, the yield on the 10-year U.S. Treasury note reached an 18-day low, decreasing by 6.5 basis points to 4.222%; the yield on the 2-year Treasury note fell below 4% to its lowest point since October 21st of the previous year, declining by 8.5 basis points to 3.995%. (Jinshi)

On March 1st, Hester Peirce, a crypto-friendly commissioner of the U.S. Securities and Exchange Commission, stated that the SEC approached the Coinbase case with a bias. She is not in support of the action against Coinbase and is concerned that using enforcement tools to regulate the crypto industry will become a part of the SEC's larger strategy. Currently, the U.S. Securities and Exchange Commission has engaged with the public by establishing a cryptocurrency working group to develop a regulatory framework to serve the American public. This new approach led to the dismissal of the charges against Coinbase, but it does not mean that the SEC will stop taking enforcement actions when appropriate.

On March 1st, as reported by FOX Business reporter Eleanor Terrett, U.S. Congressman French Hill is going to invite Binance executive Tigran Gambaryan as a guest to the State of the Union address on Tuesday. Hill is making great efforts to secure Gambaryan's release from a Nigerian prison where he was wrongly accused and had served eight months on charges of tax evasion and money laundering. Gambaryan was released in October and came back to the United States.

On March 1st, according to official channels, the decentralized high-performance memory infrastructure Optimum announced the completion of its angel round of financing. This round of financing was led by Abhijeet Mahagaonkar (the Chief Technology Officer of Polychain), Arthur Cheong (the Founder, CEO, and CIO of DeFiance Capital), Gracy Chen (the CEO of Bitget), Robinson Burkey (the Co-Founder and Chief Business Officer of Wormhole), Sandeep Nailwal (the Co-Founder of Polygon), Sankha Banerjee (the Chief Economist of Babylon), Saurabh Sharma (a partner at Jump Crypto), Tal Tchwella (the Head of Product at Solana), and Zaki Manian (the Co-Founder of Sommelier), as well as the joint founders of Aethir, Aztec, Espresso, Magna, Pyth, Taiko, Zama, and ZkCloud, etc. It is reported that Optimum has improved the scalability and efficiency of the blockchain through RLNC, which is a patented invention by Professor Muriel Médard of MIT.

On March 1st, based on the information on the SEC's website, the SEC has postponed the approval of the Fidelity Ethereum ETF Futures.

February 28th - Based on market information, two Bitcoin reserve bills in the state of Arizona, the United States, have now both obtained approval in the Senate and been submitted to the House for review. It is reported that SB 1025 passed with a vote of "17-11-2".