SEC confirms receipt of Franklin Ethereum ETF pledge proposal application
On March 13th, according to official sources, the US Securities and Exchange Commission (SEC) confirmed receipt of the Franklin Ethereum ETF staking proposal application.
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The developer of Bankrbot, an AI cryptocurrency companion, announced that the system has been adjusted to stop responding to commands from Elon Musk's AI model Grok. Previously, Grok's suggestion had led to the creation of 17 tokens, with the most famous DRB token having a market value exceeding $30 million at one point. The incident originated in early March when a user on X platform asked Grok to suggest a token name for Bankrbot. Grok recommended "DebtReliefBot" (DRB) and then used Bankrbot's automated tools to automatically deploy tokens and set up liquidity pools on the Base blockchain. Afterwards, many users quickly created over 16 new tokens using Grok's recommendation function, attempting to ride on the popularity of "Grok". The trading of these tokens will incur a certain fee, of which 0.25% will be deposited into the relevant wallet as creator income. According to on chain data, wallets related to Grok have earned over $500000 through these token transactions and are expected to soon surpass $1 million. However, due to concerns that Grok may not be able to manage these funds properly, the founder of Bankrbot decided to cut off the interaction function with Grok, stating that "Grok was not designed for managing wallets and funds". This adjustment will prevent Grok from continuing to create more tokens through Bankrbot.
Odaily Planet Daily News: According to SoSo Value data, the total holdings of three Ethereum spot ETFs in Hong Kong are about 19700 ETH, an increase of over 35% compared to six months ago. Among them, Huaxia Fund (Hong Kong), which is managed by OSL Digital Securities Limited as a virtual asset custodian and trading partner, and the spot Ethereum ETF under Jiashi International hold more than 13100 ETH, accounting for over 65%
Arthur, founder and chief investment officer of DeFinance Capital, stated on social media that the cryptocurrency market may have entered the final stage of the "fat protocol theory," which has caused long-term damage to the investment potential of cryptocurrency assets outside of Bitcoin. He pointed out that successful application projects are typically valued at 5 to 15 times revenue, while infrastructure projects that have hardly grown in the past two years are still valued at 150 to 1000 times revenue. He believes that the speculative premium foam of encryption infrastructure has officially burst.
Odaily Planet Daily News Arthur Cheong, founder and CEO of DeFiance Capital, said that the impact of "Fat Protocol Thesis" on the encryption market was fading, and the speculative foam of infrastructure projects had burst. He pointed out that the price to earnings ratio (PE) of DeFi applications is usually between 5-15 times, such as Hyperliquid (7.7x), Ena (7.4x), and Jupiter (3.9x), while infrastructure projects such as Ethereum (694x) and Solana (162x) have had limited growth in the past two years, with valuations still in the price/revenue ratio range of 150x-1000x. Cheong believes that as the market re evaluates valuations, DeFi and other application-oriented projects will receive more attention, while the premium of infrastructure projects is being digested by the market.