Market Update - Saturday, February 28

- Gold rises to $5,300, U.S. stocks continue to decline, Bitcoin slightly drops to around $65,000, and altcoins remain stagnant.

- Trump expresses disappointment over U.S.-Iran negotiations, warns of potential military action, with the probability of a U.S. attack on Iran increasing to 69%.

- U.S. PPI inflation for January exceeds forecasts, prompting the Fed to maintain a cautious stance on interest rate cuts.

ETF Spot Update for February 27

- Bitcoin shows a gain of $1.9 million; BlackRock has no data available.

- Ethereum has no transactions; BlackRock has no data available.

- Solana shows a gain of $1.3 million.

- David Sacks states that the crypto sector has made significant concessions regarding stablecoin yields and urges banks to collaborate for the swift passage of the CLARITY Act.

- The U.S. Department of Justice continues to seize $580 million in crypto linked to fraud schemes from Southeast Asia.

- Major U.S. bank Morgan Stanley applies for a banking license to custody crypto and offer staking services.

- U.K. bank Barclays seeks partners to develop a blockchain platform for payments, tokenized deposits, and stablecoins.

- The South Korean tax agency accidentally leaked a seed phrase in a public announcement, resulting in the theft of $4.8 million in PRTG tokens.

- ZKsync Lite announces it will cease operations on May 4, 2026; funds will still be withdrawable, and other systems will not be affected.

- Crypto fund Paradigm expands into AI and robotics, raising a new fund of $1.5 billion for this strategy.