📢 Parr News Quick Report -2.25 1. OKX has reached a settlement with the US Department of Justice, paying over $500 million in fines and confiscation of funds. The trading platform is under investigation for not obtaining a fund transfer license to operate in the United States, and its affiliated company Aux Cayes FinTech Co. Ltd. has reached an agreement with the US. Par's note: It's nothing, spending money to ensure safety, I think it's pretty good. 2. Bybit was hacked and lost 1.4 billion yuan Bybit was hacked, becoming the largest financial theft case in history. The largest previous financial theft case was on March 18, 2003, when the Central Bank of Iraq was robbed of $1 billion. Parr's note: There will be more and more hacking cases like this, and the money is too easy. The security level of exchanges can be easily compromised, let alone small exchanges like DeFi projects. Wait and accept the uninterrupted impact of currency black swan. 3. Solana faces the largest scale token unlocking Crypto market maker Wintermute has withdrawn $38.2 million worth of SOLs from Binance in the past 24 hours, and is currently one week away from Solana's largest token unlocking in history (worth $2 billion). On March 1st, 11.2 million SOLs will be unlocked for circulation. Moreover, over 15 million SOLs (approximately $2.5 billion) will enter circulation in the next three months, most of which will be purchased by institutions such as Galaxy Digital, Pantera Capital, and Figure through FTX auctions at $64 per SOL, holding unrealized profits of $3 billion, $1 billion, and $150 million respectively on SOLs. The market speculates that these institutions may sell their positions. Parr's note: Don't think about buying SOL, short selling on a rebound is the key. 4. Citadel plans to become a cryptocurrency market maker Citadel Securities, with a market value of $65 billion and the largest market maker on the New York Stock Exchange, hopes to become a liquidity provider for Bitcoin and cryptocurrency, betting on President Trump's support for the industry. Parr's note: It's getting harder and harder to play, Castle Griffin is notorious, it's too difficult. 5. Federal Reserve researcher: Stablecoins become a new payment method According to Chris Colson, a payment researcher at the Atlanta Fed, stablecoins are gradually becoming a new payment method, although they still face multiple challenges. He pointed out that some retailers have started accepting stablecoin payments, and the size of the stablecoin market has exceeded 230 billion US dollars, close to the annual GDP of Greece or New Zealand. Pal's note: Good thing, stablecoins are the foundation of trading, and the more recognized they are, the safer they are. 6. This week, 5 cryptocurrency projects will unlock tokens, releasing a total value of approximately $290 million. On February 25th, ALT unlocked approximately 240 million pieces (about 11.72 million US dollars), accounting for 2.401% of the total supply; On February 26th, ENA unlocked approximately 12.86 million pieces (approximately 5.94 million US dollars), accounting for 0.086% of the total supply; On February 28th, OP unlocked approximately 31.34 million pieces (approximately $36.66 million), accounting for 0.73% of the total supply; On March 1st, SUI unlocked approximately 64.72 million pieces (about 220 million US dollars), accounting for 0.647% of the total supply; On March 1st, ZETA unlocked approximately 44.4 million pieces (approximately $14.75 million), accounting for 2.114% of the total supply.