| Hey Cryptonews, here's our curated daily bundle of crypto news. | | Bitcoin [BTC] should consider these warning signs
|  | - BTC registered some profits in February despite uncertainty across the board
- Exchange inflows might fuel selling pressure in the mid-term
After a bullish start to the year in January, February saw Bitcoin's gains stall somewhat. Even so, BTC held itself well enough on the charts, despite all the uncertainty around. For instance, Bitcoin's supply in profit fell down to 67% from 72.2% - A sign that there was significant accumulation near the crypto's recent highs.
On the contrary, one can also argue that while there is more room for upside, there is also some room for downside until BTC hits its perceived bottom.
Additionally, Bitcoin's Puell Multiple dropped to a level of 0.67 - Evidence of the Relative Strength of the crypto's buyers. In mid-February, it was as high as 1.19. What this finding suggests is that BTC is well below the level considered to be 'euphoric.' However, it is also not close to a level that would suggest capitulation.
With exchange inflows outpacing exchange outflows over the past few days, it is likely that some selling pressure may be exerted on the price charts of the world's largest cryptocurrency.
| | Learn more | | Ethereum: Account abstraction smart contract now live |  | | The Ethereum Foundation's ERC-4337 account abstraction standard is now available on the Ethereum mainnet. The audited version, implemented through smart contract EntryPoint, is designed to change how users interact with wallet services. Especially as most of Ethereum's existing wallets are externally owned accounts (EOA).
The list of wallets on Ethereum's ecosystem includes providers like imToken and MetaMask. It even extends to hardware wallets such as Ledger Nano, where only one key controls an account. If its key is compromised, any tokens within the wallet would be too.
Unlike EOAs, account abstraction makes the account flexible to match users' needs and also enables use of smart contract wallets with arbitrary verification logic.
"So now, users don't need to think about writing down 12 words on a piece of paper, but instead, they are able to add and remove devices and include recovery options with a friend or a lawyer." | | Learn more | | DOGE is now Unstoppable Domains' latest payment option |  | | Pre-eminent Web3 domain provider Unstoppable Domains has announced its move to add Dogecoin as a payment option for its domain purchases. By adding DOGE to its payment options, Unstoppable Domains is expanding its cryptocurrency payment services. These already include the likes of Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).
The innovative system offers a decentralized technology that allows for self-owned unique public addresses to replace lengthy wallet addresses with easily recollected crypto-centric domain extensions. This also allows users to register domains that cannot be confiscated by governing authority.
The announcement came as a result of growing interest in DOGE, which enjoyed a massive surge in price in 2021. Unstoppable Domains' mission is to decentralize the Domain Name System (DNS), assuring that no single entity has control over the entire platform. | | Ethereum's staking returns not the same since the Merge |  | | According to a recent tweet by Messari, Ethereum's [ETH] Merge had a huge impact as staking returns improved from 1% in Q3 to 6% in Q4 of last year. The situation of Ethereum stakers could improve even more. Once ETH is staked, it usually cannot be used for other functions. With a new service called Eigen Layer, ETH stakers can secure additional networks, securing multiple services with the same initial capital.
There were 531,653 validators that staked their ETH holdings, at press time. The validators on the network are doing well, with revenue increasing by 34.22% over the last month.
According to Staking Rewards, the overall revenue generated by stakers hit a value of $2.02 billion at press time. Along with stakers, the number of non-zero addresses on the Ethereum network increased, reaching an all-time high of 94.83 million addresses.
However, many of the new addresses holding Ethereum have not been selling their ETH. Especially as the overall transaction volume declined significantly. | | SEC, CFTC press civil charges against FTX's Singh
|  | | Both the SEC and CFTC have pressed civil charges against former FTX Director of Engineering Nishad Singh, shortly after he pleaded guilty to the criminal charges against him in a Manhattan district court. The court will also decide on whether he is subject to "disgorgement of ill-gotten gains plus prejudgment interest and/or a civil penalty."
The CFTC charged Singh with fraud by misappropriation and with aiding and abetting fraud committed by Samuel Bankman-Fried, FTX, and Alameda Research. The SEC's complaint against Singh charged him with violating the anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934.
Reportedly, Singh did not contest the CFTC charges and agreed to enter a proposed consent order. Additionally, Singh consented to a bifurcated settlement with the SEC, according to the agency.
Notably, Singh's former colleagues Caroline Ellison and Gary Wang settled their cases with the SEC but consented to stay their CFTC cases. However, the SEC and CFTC cases against Bankman-Fried are stayed until the conclusion of his criminal trial.
| | Australian central bank to launch CBDC pilot
|  | - RBA said it is collaborating with the DFCRC on a research project
- Research project will explore the use cases and economic benefits of a CBDC
According to a joint statement from the Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC), the Australian central bank is set to launch a "live pilot" of a CBDC in the coming months. The RBA stated it is collaborating with the DFCRC on a research project to,
"... explore potential use cases and economic benefits of a CBDC in Australia."
Additionally, the RBA revealed that the initial stage of the research project will involve the selection of several financial industry participants to demonstrate potential use cases of the CBDC such as payments, tax automation, and a CBDC for trusted Web3 commerce. Commonwealth Bank, Australia and New Zealand (ANZ) bank, and payment provider Mastercard are said to be participating in the trial.
The pilot project will be launched on 31 March and end on 31 May. A final report on the findings, including an assessment of the various use cases developed, will be published on 30 June. Commenting on the pilot and research study, Assistant Governor for Financial Systems at the RBA Brad Jones said,
"It will contribute to hands-on learning by industry, and it will add to policymakers' understanding of how a CBDC could potentially benefit the Australian financial system and economy."
| | DeFi to be examined at CFTC advisory meeting
|  | - The Technology Advisory Committee will examine DeFi
- Other panels will explore AI development
On 1 March, the CFTC announced that the agenda for the 22 March meeting of its Technology Advisory Committee will include a panel on "exploring issues in decentralized finance." The panel will include presentations that provide an overview of the DeFi ecosystem and will discuss decentralization issues, digital identity, noncustodial crypto wallets and exploits.
CFTC commissioner Christy Goldsmith Romero said,
"A discussion about DeFi, including cyber vulnerabilities, indicators of 'decentralization,' digital identity and unhosted wallets, will contribute to ongoing policy discussions in Washington, D.C. and beyond the beltway."
Additionally, other panels will explore responsible AI development and possible threats arising from AI, along with cybersecurity threats to financial markets.
Furthermore, the meeting agenda will also include a session that considers a sub-committee on crypto and blockchain technology. This is another move to help cement its bid to win regulatory jurisdiction over crypto. Notably, executives from crypto-companies including Fireblocks, Trail Of Bits, Terranet Ventures, TRM Labs, and Metrika are slated to present during the meeting.
| | Bears greet Bitcoin & co. |
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