Gate.io Launches INIT Perpetual Contract Pre-trading

On February 25, Bitget market data shows spot gold hit $5,200 per ounce, posting an intraday gain of 1.13%. Spot silver surged 4% intraday and was last trading at $90.67 per ounce.

On Feb 25, Coinbase CEO Brian Armstrong stated that the UK’s ongoing stablecoin regulation finalization could undermine the country’s competitiveness in the global digital economy. For example, the Bank of England has proposed capping the amount of stablecoins individuals and businesses can hold. The UK has long been a global financial hub—embracing and fostering innovation, particularly as other nations advance rapidly, is critical to maintaining that position. However, the current regulatory direction runs counter to this, and it will stifle innovation. Armstrong is calling on UK users to sign a petition from StandwithCrypto. The petition advocates for stable, tokenized regulatory frameworks that drive innovation, including: supporting interest-bearing stablecoins, preserving their role as wholesale settlement assets, exploring government blockchain use cases, appointing a dedicated blockchain and cryptocurrency affairs chief, and more.

February 25 — Per HTX market data, while Asia-Pacific stocks surged in early trading, Bitcoin initially rebounded 2.64% within an hour. The rebound was short-lived, though, as the cryptocurrency continued to decline in subsequent hours. As of press time, Bitcoin has fallen below $65,000, currently trading at $64,872.89, with a nearly 0.82% drop over the past hour.

**Feb. 25 — Bitget market data shows spot gold’s intraday gain has widened to 1.00%, with the metal currently trading at $5,195.26 per ounce.**

On February 25, a Jane Street spokesperson responded to allegations from the bankruptcy trustee of Terraform Labs, calling the lawsuit an attempt to extort money from the firm. Jane Street will vigorously defend its rights against "baseless, opportunistic allegations." "This desperate lawsuit is clearly an attempt to extort money—especially since it’s been amply shown that losses suffered by Terra and Luna holders stemmed from a multi-billion-dollar fraud orchestrated by Terraform Labs management," the spokesperson said (per CoinDesk). Previously, the court-appointed bankruptcy trustee for Terraform Labs had sued Jane Street in federal court in New York, alleging the firm engaged in front-running trades using non-public insider information from Terra insiders to profit during Terra’s collapse.