Gemini Co-founder: Bitcoin is the Only Asset that Meets the Store of Value Asset Standard

On March 4th, as per Cointelegraph, the New York Stock Exchange-listed car trading service provider Cango augmented its holdings by 472 bitcoins, raising its total holdings to 1,944 bitcoins. Previously, BlockBeats reported that the car trading service provider Cango entered the Bitcoin mining domain in November 2024, investing $400 million to acquire 50 EH/s of hash rate and promptly becoming one of the largest miners in the world, accounting for approximately 6% of the hash rate behind Bitcoin. For reference, the world's largest publicly traded miner MARA Holdings (MARA) has a slightly over 47 EH/s hash rate, with the second-largest CleanSpark (CLSK) and Riot Platforms (RIOT) having 32 EH/s and 26 EH/s respectively.

On March 4th, based on the official personnel data of Deribit: The largest ETH block trade option transaction today. A certain user purchased the end-of-May $2400 put option and sold the end-of-May $2800 call option, with a total of 9750 ETH, and paid a premium of $1.326 million. It is indicated that the user is bearish on Ethereum. Currently, the ETH price is hovering around 2000. The DVOL volatility index is now at 78.23, and the ETH/BTC exchange rate has reached 0.0244.

March 4th, the State Council Customs Tariff Commission: Commencing from March 10, 2025, tariffs will be imposed on certain imported goods originating from the United States. A 15% tariff will be applied to chicken, wheat, corn, and cotton. A 10% tariff will be imposed on sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables, and dairy products. (Golden Ten)

On March 4th, with the latest tariff threat from Trump hanging in the air, the U.S. stock market is facing a potentially vulnerable time. The S&P 500 index has dropped by about 5% from its historical closing high on February 19th. A series of weak U.S. economic reports have given rise to concerns about economic growth, and the tariffs have further clouded the market outlook. Analysts generally believe that imposing tariffs on imported goods may aggravate inflation and reduce corporate profits. Chuck Carlson, the CEO of Horizon Investment Services, said, "At present, the market still views tariffs more as a negotiating tool rather than a long-term strategy. If this situation begins to change, I think it will have a negative impact on the stock market." (FX168)

On March 4th, according to GMGN market data (accessible via https://t.me/GMGN_sol_bot?start=i_m4TE56o8), only one project in pump.fun graduated to have a market cap exceeding $1 million within the past 24 hours, and the on-chain speculative fervor has significantly cooled down.

On March 4th, the Web3-focused top accelerator Web3Labs recently concluded a new round of strategic financing. This round was led by emerging investment groups such as Avenir Group, Mirana Ventures, OSL Group, and Gao Feng Innovation Venture Capital, which are four Web3 investment institutions. The funds from this financing round will be mainly used to strengthen global ecosystem construction, deepen the integration with the ecosystem of international mainstream trading platforms, and leverage professional financial service capabilities to inject new impetus into the Web3 ecosystem. After the financing, Web3Labs will comprehensively upgrade its ecosystem service system. On one hand, it will cooperate with top-tier trading platform partners to create a full-cycle acceleration platform covering project acceleration and primary market investment. On the other hand, it will actively explore ways to integrate with the traditional market. In addition, Web3Labs has started discussions with m