The Financial Industry Regulatory Authority (FINRA) in the United States issued a press release on March 7th local time, stating that it has ordered Robinhood Financial to pay $3.75 million to customers, and fined Robinhood Financial and Robinhood Securities $26 million for violating multiple FINRA rules, including failing to respond to warning signs of potential improper behavior. In the settlement agreement, both companies accepted the findings of the FINRA investigation without admitting or denying the charges, and agreed to commit to addressing the related issues.

Offchain Labs CEO Steven Goldfeder said that the US cryptocurrency reserves should only focus on Bitcoin at least for now. Goldfeder believes that Bitcoin has emerged in a universally accepted way and focusing on Bitcoin is the cleanest and easiest move. He said that allowing other assets into the market is risky because regulatory agencies do not understand the complexity of all cryptocurrencies and do not know who is pushing for each cryptocurrency to be included in the market. In addition, if the US were to establish reserves focused on US cryptocurrencies, Steven Goldfeder believes that Arbitrum's native token ARB should be at the top.

Former U.S. Securities and Exchange Commission (SEC) commissioner Michael Piwowar said in an interview that compared to other cryptocurrency-related issues, Memecoins may be a case that the SEC can more easily resolve. He said that Memecoins can be considered commodities, but the Commodity Futures Trading Commission must publicly declare this.

The Solana SIMD-0228 proposal has now started voting. According to Dune data, the current approval rate is 7.4% and the disapproval rate is 1.1%.

The South Korean Prosecutor's Office gave up appealing the court's decision to "cancel the detention of Yoon Suk-yeol" on the 8th, and Yoon Suk-yeol will be released later. (Jinshi)

Data from L2BEAT shows that the total value locked in the Ethereum Layer2 network is currently $32.9 billion, with a 4.98% decrease in the past 7 days. The top five locked values are:

David Sacks, the White House cryptocurrency chief, dodged questions about potential conflicts of interest between U.S. President Trump and cryptocurrencies during an interview on Friday, saying that Trump's personal digital asset projects (such as controversial meme coins) are "irrelevant" to government policy. When asked if Trump's cryptocurrency projects affect industry regulation, Sacks said, "I don't think it has any impact, it's not related to the work we're doing here." Later, when asked about Trump's "personal investments" in cryptocurrencies like Bitcoin, Sacks sharply refuted, saying "these are baseless claims," and that there is no evidence to suggest that Trump has personal investments in cryptocurrencies like Bitcoin.

According to Onchain Lens monitoring, a whale redeemed 36,156 SOL (5.05 million US dollars) after pledging for a year, making a profit of 1.51 million US dollars. Initially, this whale pledged 32,999 SOL on February 10, 2024, and made a profit of 3,157 SOL from the pledge.

The Office of the Comptroller of the Currency (OCC) issued a new letter, announcing the revocation of Interpretation Letter 1179 issued on November 18, 2021, and reaffirming that the activities related to cryptocurrency custody, distributed ledger, and stablecoins discussed in the previous letter are allowed.

On-chain analyst Ali posted on X that whales have bought over 30,000 BTC in the past two weeks.

The participants of the White House cryptocurrency summit took turns to speak, mostly expressing a series of progress in the cryptocurrency field since Trump took office and praising Trump himself.

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)

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.

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

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.