Aave updates its token economic model, initially plans to repurchase $1M of AAVE per week

PANews reported on March 4 that according to an announcement by OpenAI, the company launched NextGenAI, an innovative alliance of 15 leading research institutions

The White House Crypto Summit will begin at 2:30 a.m. Beijing time on March 8, reported by PANews. According to Fox Business News reporter Eleanor Terrett, according to the invitation email of the White House's first cryptocurrency summit, the meeting will last from 1:30 pm to 5:30 pm on March 7 (2:30 to 6:30 am, Saturday, March 8, Beijing time), and no other details were disclosed in the email except the time and location. Earlier today, it was reported that executives from Coinbase, Robinhood and other companies confirmed that they would attend the White House Crypto Summit this Friday .

US SEC agrees to drop lawsuit against Cumberland DRW

Crypto trading company Cumberland DRW posted on the X platform: "Today, we signed a joint document with the U.S. Securities and Exchange Commission (SEC) requesting the dismissal of the lawsuit against Cumberland DRW. The document was agreed in principle by Cumberland DRW and SEC staff on February 20 and is currently awaiting approval from the Commission. As a company that firmly upholds the principles of integrity and transparency, we look forward to continuing our dialogue with the SEC to jointly promote a future where technological advancement and regulatory clarity go hand in hand, ensuring that the United States remains at the forefront of global financial innovation."

U.S. Senate votes to repeal IRS cryptocurrency rules, pending House vote

On Tuesday, the U.S. Senate, with the strong support of many Democrats, passed a resolution aimed at repealing the Biden administration's cryptocurrency tax rules, which may be the biggest obstacle to eliminating the U.S. Internal Revenue Service (IRS) new broker rule (which was originally planned to cover decentralized finance DeFi). The Senate passed a resolution authorized by the Congressional Review Act by 70 votes to 27, completely repealing the expansion of the IRS broker rule. However, the House of Representatives still needs to pass an identical resolution, after which U.S. President Trump can sign it into law. Once completed, not only will the rule be completely repealed, but the IRS will also be prohibited from pursuing similar policies in the future.

The House Financial Services Committee has passed an identical resolution and recommended approval in a full House vote, which is still awaiting a vote. The White House said earlier today that the president may sign the resolution quickly.

Earlier yesterday, it was reported that the White House supports the abolition of the "Crypto Broker Reporting Rules" and opposes the expansion of DeFi regulation .

El Salvador’s President: Bitcoin purchases will not stop due to IMF agreement

El Salvador, led by the country's President Nayib Bukele, apparently has no intention of stopping accumulating Bitcoin, no matter what the International Monetary Fund (IMF) requires.

Bukele posted on the X platform that El Salvador will not stop accumulating Bitcoin: "When the whole world rejects us and most of the 'Bitcoin believers' abandon us, it has not stopped, it will not stop now, and it will not stop in the future. Proof of Work is greater than Proof of Complaint."

Shortly after Bukele posted on social media, the International Monetary Fund announced more details of its $3.5 billion loan agreement with the Latin American country. The IMF claims that as part of the loan program, it has banned "voluntary accumulation of Bitcoin by the public sector."

Perhaps in response to the IMF's post, El Salvador disclosed late Monday night that it had purchased 19 Bitcoins in the past seven days, and then disclosed on Tuesday afternoon that it had purchased an additional coin on this basis. The Salvadoran government currently holds 6,101.15 Bitcoins, which is worth about $530 million at Bitcoin's current price of about $88,000.

US Treasury Sanctions 49 Bitcoin and Monero Addresses Linked to Defunct Dark Web Market Nemesis

The U.S. government has added dozens of Bitcoin (BTC) and Monero (XMR) addresses to its entity sanctions list, according to an announcement from the U.S. Treasury Department's Office of Foreign Assets Control (OFAC).

On Tuesday, OFAC confirmed 49 virtual currency addresses used by Iranian national Behrouz Parsarad, who is allegedly the administrator of the dark web market Nemesis, are being included in its sanctions list. Among the confirmed addresses are 44 Bitcoin addresses and five Monero addresses.

Parsarad became the target of international law enforcement actions in 2024. Nemesis, which reportedly had 30,000 active users and facilitated nearly $30 million worth of drug transactions during its three years of operation, was shut down.

"Parsarad profited by charging Nemesis users a fee for