On March 8th, it was announced by Omer (@demirelo), former director of the Avalanche Foundation, on the X social platform that three directors, including Aytunç Yildizli and Vikram Nagrani, officially resigned from the board of directors of the foundation and its subsidiaries early this week.

Scott Bessent, the US Secretary of the Treasury, spoke at the White House Crypto Summit, saying: "We will deeply consider the stablecoin system, as directed by President Trump, we will maintain the US position as the world's leading reserve currency, we will use stablecoins to achieve this."

The U.S. Commodity Futures Trading Commission (CFTC): As of the week ending March 4, the net long position of Bitcoin was 614 contracts. (Jin Shi)

According to Whale Alert monitoring, in the past two hours, the USDC Treasury has added a total of 479,734,456 USDC tokens.

On March 8th, MegaETH co-founder Lei Yang posted on social media that the RPC outage incident yesterday exposed an interesting edge case. Debugging the RPC method call resulted in the server allocating a large amount of memory for an excessively long string, ultimately leading to memory exhaustion. The MegaETH team has decided to build their own RPC stack in order to apply multiple optimizations on the RPC stack to improve performance. From a performance perspective, the results are good, but the cost is that the team will need to handle the maintenance of the infrastructure themselves. It is expected that there will be more outage situations in the future, and more post-incident analysis reports will be released. It is hoped that these reports will stimulate interesting discussions. They encourage everyone to provide more edge cases for testing now, rather than encountering problems months later.

Hut 8, a Nasdaq-listed cryptocurrency mining company, released its latest operating data, revealing that the mining output in February was 46 bitcoins, a decrease from the 65 bitcoins mined in January. Currently, its bitcoin reserve has increased to 10,237 BTC (including 968 bitcoins pledged and transferred to a third-party wallet). In addition, Hut 8 disclosed that the delivery of mining machines under the hosting agreement signed with Bitmain is in progress.

Coinbase CEO Brian Armstrong said on the X platform, "On this historic day of the White House Digital Asset Summit, thanks to President Trump's leadership and David Sacks' efforts, the United States now has a strategic Bitcoin reserve and regulatory policies are gradually becoming clear. This directly translates into economic growth in the United States. For example, Coinbase plans to hire about 1,000 employees in the United States this year to address this new growth. We will continue to develop this industry in the United States to ensure that the United States maintains a leading position in the technology and finance sectors."

Gianni Infantino, President of FIFA, announced the "FIFA Coin" plan at a White House summit, hoping to launch their own cryptocurrency. The aim is to leverage the $170 billion football industry and the 5 billion global football fans. They will invite cryptocurrency experts to collaborate and help realize this project.

President Trump signed an executive order to establish a special White House 2026 World Cup task force.

Polymarket posted on X platform, stating that after an unauthorized interview with Tucker Carlson, SBF (Sam Bankman-Fried) has been placed under solitary confinement. Since this unauthorized interview aired, the possibility of SBF receiving a presidential pardon has nearly doubled.

According to The Paper news, the Procurator-General of the Supreme People's Procuratorate, Ying Yong, made a work report of the Supreme Procuratorate at the third session of the Fourteenth National People's Congress, in 2024, the procuratorial organs prosecuted 825 people for securities crimes such as financial fraud and insider trading, and prosecuted 3032 people for money laundering crimes such as using "virtual currency" to transfer criminal proceeds.

On March 8th, a court in Georgia ordered the detention of George Bachiashvili, the founder of Mission Gate and a venture capitalist. He is currently facing trial for allegedly embezzling investment profits from former Georgian Prime Minister Bidzina Ivanishvili.

CleanSpark, a bitcoin mining company listed on Nasdaq, has been included in the S&P SmallCap 600 Index on the X platform. According to the company's latest financial report data, its current bitcoin holdings have reached 11,177 coins, with 624 bitcoins mined in February and an expected mining output of 1,250 bitcoins in the 2025 fiscal year. The S&P SmallCap 600 Index is typically referred to as a "small-cap index," reflecting emerging trends and innovative forces in the economy.

Nasdaq-listed company Nano Labs announced the additional issuance of 154,799 shares of Class A common stock to investors at $6.46 per share, raising funds to purchase 1 million USDT stablecoins. The company had previously issued 913,714 shares of Class A common stock, raising approximately $5.9 million.

According to Farside Investors monitoring, ARKB had a net outflow of $160 million yesterday, FBTC had a net outflow of $154.9 million, GBTC had a net outflow of $36.5 million, and BITB had a net outflow of $18.6 million.

According to on-chain data analyst @ai_9684xtpa, a whale's 20x BTC short position on Hyperliquid has increased to a floating profit of $4.886 million. In addition, the address's 30x ETH short position also has a floating profit of $190,000, with an opening price as high as $2,658, also opened at a high point of the rebound.

According to Lookonchain monitoring, in the past 9 hours, Galaxy Digital withdrew 282,500 SOL (approximately $40.5 million) from OKX, Bitstamp, Coinbase, and Binance, and staked 274,253 SOL (approximately $39.15 million).

According to Lookonchain monitoring, 8 hours ago, a whale address deposited 751 million FUN (approximately $1.55 million, accounting for 6.83% of the total supply) into Binance. This 751 million FUN was withdrawn from Binance during the bull market 4 years ago, when it was worth $18.25 million. This whale now faces a loss of $16.7 million (-92%).

According to online detective ZachXBT, a seizure lawsuit filed by US law enforcement agencies yesterday revealed the reason why Ripple co-founder Chris Larsen encountered a theft of approximately $150 million (283 million XRP) in January 2024. The incident stemmed from Larsen storing the private key in the LastPass password manager, which suffered a data breach in 2022. The documents show that after the victim enters the private key of the cryptocurrency wallet into an online password manager, the physical record of the private key will be immediately destroyed. The password manager experienced two major data breaches in August and November 2022, where attackers stole encrypted passwords and vault data. FBI investigation found that the stolen data was used to illegally access the electronic accounts of multiple victims and steal information, cryptocurrencies, and other data.

March 7th news, according to Arkham monitoring, 672.574 BTC worth $59.79 million was transferred to an unspecified address 7 minutes ago.