Daily Report | RootData Releases Overview of Q1 2025 Web3 Project Financing Data; Six Members of Trump's Cabinet Hold Millions of Dollars in Cryptocurrency
March 13 News OverviewOrganizer: Jerry, ChainCatcher
Important News:
- The strategic Bitcoin reserve bill proposed by U.S. Senator Cynthia Lummis has now been published on the Congressional government website
- The mention of blockchain terms in U.S. SEC filings reached a historic high in February, exceeding 5,000 keyword mentions
- RootData releases an overview of Q1 2025 Web3 project financing data: CeFi sector financing reached $2.6 billion
- Fox Business reporter Eleanor Terrett announces departure to host the "Crypto In America" podcast
- Six members of Trump's cabinet hold cryptocurrencies, with a total value of millions of dollars
- China's Printing and Minting Corporation: We have never issued virtual currency through any means
- The claim that Trump tokens have utility is fake news; the account was hacked
- Bybit CEO: The liquidation event of whale ETH long positions at 50x leverage on Hyperliquid may drive innovation in CEX and DEX liquidation mechanisms
"What Important Events Happened in the Last 24 Hours"
According to the official page, the strategic Bitcoin reserve bill proposed by U.S. Senator Cynthia Lummis has now been published on the Congressional government website.
The mention of blockchain-related terms in the U.S. Securities and Exchange Commission (SEC) EDGAR database reached a historic high in February 2025, exceeding 5,000 keyword mentions, continuing a strong upward trend that began in mid-2023.
This surge aligns with a significant shift in the SEC's approach to cryptocurrency regulation under acting chairman Mark Uyeda. Since the new government transition in January, the SEC has ended several high-profile investigations into major crypto companies such as Uniswap, Coinbase, Yuga Labs, Kraken, and Gemini, marking a clear departure from the "enforcement-based regulation" strategy of former chairman Gary Gensler.
RootData has released an overview of Q1 2025 Web3 financing data, covering the period from January 1 to March 13, 2025, with key points including:
- CeFi sector dominates the market: total financing reached $2.6 billion, with Binance's single investment amounting to $2 billion.
- Infrastructure sector performs well: 30 infrastructure projects raised $738.8 million, highlighting investor confidence in crypto infrastructure.
- Financing distribution in other sectors: 8 projects in the DeFi sector raised $344.95 million; 4 projects in the tools and information sector raised $23 million; a single project in the gaming sector secured $10 million in financing.
Fox Business reporter Eleanor Terrett announces departure to host the "Crypto In America" podcast
Eleanor Terrett announced that after working at Fox Business for 9 years, she has accepted an invitation from Sei Network to host a new weekly podcast and newsletter titled "Crypto In America." The show will feature conversations with key figures shaping cryptocurrency policy in the U.S.
Terrett stated that she will be joined by co-hosts Jacquelyn Melinek and Gerald Fenech to delve into how lawmakers, regulators, and the government are laying the groundwork for the U.S. to become a global leader in blockchain technology. The first episode of the podcast will be released on March 19.
In addition to her work on "Crypto In America," Terrett plans to launch her own extended content later this year, continuing to provide exclusive reports, breaking news, and important dialogues at the intersection of Wall Street and Washington.
Six members of Trump's cabinet hold cryptocurrencies, with a total value of millions of dollars
According to Fortune magazine, after reviewing the financial disclosures of members of President Trump's cabinet from January, it was found that six members hold Bitcoin indirectly through other financial instruments or have invested in cryptocurrencies, with a total value reaching millions of dollars.
The six members who invested in Bitcoin and their holdings include:
- U.S. Secretary of Health and Human Services Robert Kennedy Jr. disclosed a Bitcoin Fidelity cryptocurrency account valued between $1 million and $5 million.
- Office of Management and Budget Director Russell Vought disclosed Bitcoin in a Coinbase wallet valued between $1,001 and $15,000, stating he would divest.
- Director of National Intelligence Tulsi Gabbard reported owning a Bitwise Bitcoin ETF trust fund valued between $15,001 and $50,000, as well as Bitcoin valued between $15,001 and $50,000, stating she would divest.
- Secretary of Defense Pete Hegseth disclosed holding Bitcoin valued between $15,001 and $50,000.
- U.S. Treasury Secretary Scott Bessent's financial disclosure showed he holds an iShares Bitcoin Trust ETF valued between $250,000 and $500,000, which he will divest within 90 days upon confirmation.
- Transportation Secretary Sean Duffy disclosed Bitcoin valued between $250,000 and $500,000, Bitcoin held in a Gemini wallet valued between $250,000 and $500,000, and Fidelity Wise Origin Bitcoin Fund valued between $50,000 and $100,000.
China's Printing and Minting Corporation: We have never issued virtual currency through any means
On March 13, China's Printing and Minting Corporation issued a statement: "Recently, we have received reports from the public that illegal individuals are impersonating our company to sell virtual currency on websites and apps. We hereby solemnly declare that we have never issued virtual currency through any means. We urge the public to be cautious and avoid falling victim to scams to prevent economic losses."
The claim that Trump tokens have utility is fake news; the account was hacked
The previous report by the db X account regarding "Trump tokens having utility" is fake news; the account was hacked, and the tweet has since been deleted.
Bybit CEO Ben Zhou stated on the X platform that the large-scale liquidation of whale ETH at 50x leverage on Hyperliquid essentially utilized the platform's liquidation engine to exit. CEX also faces similar challenges; when whales are liquidated, the CEX liquidation engine takes over positions. Reducing overall leverage is one method and may be the most effective, but doing so could harm business as users always want higher leverage. Additionally, while deploying dynamic risk limitation mechanisms could be considered, such as reducing total leverage based on total position size as positions grow, this does not fundamentally solve the issue if users utilize multiple accounts.
If DEX wants to provide high leverage services long-term and avoid situations like the whale utilizing the platform's liquidation engine to exit on Hyperliquid, it may need to attempt CEX-level risk management, such as market monitoring to identify abusers and market manipulators. It will be interesting to follow the developments on this matter, which may drive innovation in liquidation mechanisms.
"What Interesting Articles Are Worth Reading in the Last 24 Hours"
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If Binance does something with the stablecoins it holds in the second half, there may be more excitement in the second round of the bull market.
Meme Hot List
According to the meme token tracking and analysis platform GMGN, as of March 13, 19:50:
In the past 24 hours, the top five popular Ethereum tokens are: SPX, PEPE, COCORO, UNO, CHAINSAW
In the past 24 hours, the top five popular Solana tokens are: PIPE, $ROGERS, YODA, ATLAS, TGBW
In the past 24 hours, the top five popular Base tokens are: KYLIE, Four, SKITTEN, VIRTUAL, DRB
