Global Markets

The White House is considering stablecoin legislation to boost the dollar's global role, with support from banks. The GENIUS Act mandates regulatory oversight for stablecoins, promoting efficiency in payments while ensuring traditional banks remain vital for lending.

Stripe states that stablecoins have become a vital part of the global payment infrastructure, and transaction volumes are expected to continue increasing in the future, despite current challenges in blockchain processing capacity.

SBI Ripple Asia partners with DSRV Labs to explore blockchain enhancements for remittances and payments between Japan and South Korea, focusing on the use of XRP Ledger for cross-border services.

ChainCatcher reports that, according to Gate market data, major U.S. bank stocks are under pressure, with the S&P 500 Banking Index down 2.2%. Morgan Stanley's stock price fell 0.9%, Wells Fargo's stock price dropped 2.8%, and Citigroup's stock price declined 2.2%.

Bitcoin Standard Treasury Company (BSTR) is actively pursuing an IPO, with shareholder approval expected as early as April. The plan is to hold 30,000 Bitcoins. Founder Adam Back believes that a weakening Bitcoin price could be beneficial for BSTR's listing, allowing for additional Bitcoin acquisitions at lower prices.

PANews February 24 News, according to the official announcement from the Sui Foundation, the spot SUI ETF issued by 21Shares (NASDAQ: TSUI) began trading on the NASDAQ on February 24, providing U.S. investors with regulated, high-liquidity direct SUI exposure through existing brokerage accounts. The ETF was recently approved by the U.S. Securities and Exchange Commission.

ChainCatcher reports that according to Gate Market Data, the Dow Jones Industrial Average opened up 164.38 points on February 24th (Tuesday), a 0.34% increase, at 48,968.44 points; the S&P 500 opened down 12.39 points, a 0.18% decrease, at 6,825.36 points; the Nasdaq Composite opened down 67.58 points, a 0.3% decrease, at 22,559.69 points.

Gate News bot message, According to Feb 24 update, Bitcoin ETFs recorded a 1-day net outflow of 3,262 BTC (approximately $205.37M) and a 7-day net outflow of 7,895 BTC (approximately $497.07M). Ethereum ETFs showed a 1-day net outflow of 25,337 ETH (approximately $46.04M) and a 7-day net outflow of

Odaily Planet Daily reports that, according to Gate data, spot gold has fallen below $5,140 per ounce, down 1.68% for the day.

BNP Paribas Asset Management issues tokenized shares of a French-registered money market fund on the Ethereum public blockchain, marking a significant advancement in its tokenization technology. The project is restricted to regulated participants and combines asset management, securities services, and investment banking to ensure compliance with financial regulations and leverage blockchain transparency.

ChainCatcher message: According to Gate market data, S&P 500 index futures have erased their gains and are now turning downward.

Odaily Planet Daily reports that Bitcoin financial company ProCap Financial, listed on NASDAQ, announced that on February 20th, it repurchased 148,241 common shares on the open market. Additionally, the company disclosed that its current Bitcoin holdings amount to 5,007 coins, valued at approximately $335 million. It also holds $75 million in cash and about $100 million in convertible bonds. (Businesswire)

Digital asset investment products experienced significant outflows, totaling $288 million, driven mainly by Bitcoin's $215 million withdrawals and cautious investor sentiment, especially in the US, while European markets exhibited more resilience.

An executive at the National Bank of the United Arab Emirates stated that the bank is considering incorporating Bitcoin into its investment process, viewing it as a store of value and "digital gold." They believe Bitcoin's current valuation is more attractive and predict its fair price will approach $100,000. However, due to its high volatility, the allocation will remain limited to pursue portfolio diversification.

The U.S. SEC issues an exemption order for WisdomTree's tokenized money market fund, allowing investors to trade shares intraday at a price of $1 per share, enhancing trading efficiency and settlement experience, marking a flexible operation of tokenized funds under current regulations.

The US Dollar strengthened, reaching 97.810 on the index, while cryptocurrencies fell by 3.06% in market cap, and gold dropped over 1%. Uncertainty in macroeconomic conditions and geopolitical tensions are influencing these trends.

Recently, market risk aversion has increased, the US dollar is strong, long-term government bond yields are rising, and gold has hit new highs. Cryptocurrency assets have declined, with significant net outflows from BTC and ETH, and market sentiment is extremely fearful. Traditional derivatives institutions and mining companies are adjusting their strategies, and market funds are becoming more cautious.

The three major U.S. stock indices mostly rose before the market opened, with the Nasdaq up 0.19%, the Dow Jones up 0.05%, and the S&P 500 up 0.1%. Most of the seven major tech stocks increased, with Apple, Microsoft, and Nvidia all rising, while Tesla slightly declined.

The current market is undergoing a structural reshaping driven by de-globalization and artificial intelligence, resulting in slow trading adjustments. Bitcoin and Ethereum prices are struggling to rebound, indicating a lack of market confidence. Capital is flowing into value sectors, technology stocks are underperforming, and crypto assets are being sold off, facing a critical transition ahead.

February 24 News, as the United States advances its stablecoin regulatory framework, the "Genius Act" is being viewed by the market as a key policy to reshape the stablecoin industry landscape. Analysts point out that under the push of this act, the stablecoin-related revenue of the United States' largest compliant CEX is expected to grow by 2 to 7 times, and some institutions interpret this as a potential long-term "tenfold" growth logic, making it one of the important narratives in the crypto market by 2026. The act was signed by Trump, with the core goal of establishing a clear compliance system for U.S. stablecoins, including requirements for issuers to hold high-quality liquid assets such as U.S. Treasury bonds in a 1:1 ratio as reserves, and strengthening anti-money laundering and regulatory transparency. This institutional design will significantly reduce compliance uncertainties for stablecoins, increase institutional funding willingness, and promote the expansion of regulated stablecoins in payments, settlements, and on-chain finance.