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CAKE soared almost 60% in the past 24 hours in line with the broader surge in BNB Chain tokens. Binance co-founder Zhao unveiled bullish developments for the BNB Chain ecosystem. Former PancakeSwap advisor withdrew $1.21 million in CAKE a few hours ago. CAKE, the token powering PancakeSwap, has surged 58.75% in the last 24 hours, reaching $3.05. This peak comes after reports of whale activity and renewed enthusiasm for BNB Chain tokens emerged, as crypto exchange Binance’s co-founder Changpeng Zhao (CZ) offered a bullish outlook for the blockchain in 2025. PancakeSwap Advisor “BNB Whale” Makes Million-Dollar CAKE Move Data from The Data Nerd on X indicates that @theveeman, identified as a former PancakeSwap advisor and BNB whale, withdrew 500,000 CAKE (worth around $1.21 million) and 3.88 million TST (approximately $698,000) from Binance a few hours ago. The withdrawal suggests the whale is positive on the CAKE token, anticipating further price increases soon. As @cz_binance shilled about @BNBCHAIN, most of tokens on #BNB pumped & some whales have accumulated. 9 hours ago, @theveeman withdrew 500k $CAKE (~$1..21M) and 3.88M $TST (~$698k) from #Bi… The post PancakeSwap’s CAKE Explodes 58%, Whale Activity and Binance CZ Optimism Fuel Rally appeared first on Coin Edition.

Hester Peirce stated many meme coins fall outside SEC’s regulations. Peirce differs from Gensler’s previous view on crypto regulation. Meme coins like TRUMP experienced major volatility, resulting in investor losses. Commissioner of the US Securities and Exchange Commission (SEC) Hester Peirce addressed the regulatory status of meme coins, saying many of these digital tokens likely do not fall under the SEC’s jurisdiction. In an interview with Bloomberg, Peirce stated that many meme coins, including those flooding the market, lack the characteristics that would bring them under current SEC rules. According to Peirce, “Many of the meme coins that are out there probably do not have a home in the SEC under our current set of regulations.If Congress wants to address, they can do that; maybe something that the CFTC wants to address, but many of those, I think, probably are not under our jurisdiction.” She explained individuals should be allowed to invest in tokens without government interference but also should be prepared for the possibility that the value of such tokens might eventually drop. She said, “If people want to buy a token or product that … The post SEC Memo: Hester Peirce Explores Meme Coin Regulation Limits appeared first on Coin Edition.

The NFT series Doodles has announced the launch of its official token, DOOD, which will be launched on Solana with an initial supply of 10B. There are plans for future cross-chain bridging with Base. 68% of the supply will be allocated to the community. Doodles previously…

Original source: Newsis Compiled by: KarenZ, Foresight News On February 13, South Korea held its third virtual asset committee meeting, planning to allow corporations to open real-name virtual asset accounts in phases, gradually opening up institutional participation in the virtual currency market. This policy marks South Korea's formal opening of the virtual asset market to corporate investors, reflecting changes in the South Korean virtual currency market environment and signaling a trend towards the mainstreaming of cryptocurrencies. However, at the same time, law enforcement agencies such as the prosecution and the National Tax Service have been allowed to open real-name accounts, which may transfer and sell criminal proceeds confiscated in virtual currency and collect tax arrears, potentially raising market concerns. So what directives were issued at the third virtual asset committee meeting convened by the South Korean Financial Services Commission today? The following content is compiled from Newsis. The Vice Chairman of the Financial Services Commission, Kim Joo-young (phonetic), convened the third virtual asset committee meeting and decided to advance the plan for corporations to open real-name virtual asset accounts in three phases, initially allowing law enforcement agencies, non-profit corporations, virtual asset exchanges, and other institutions that need to open accounts for "cash conversion purposes" to participate, with plans to gradually expand to professional investment corporations (for investment and financial purposes) and ordinary corporations in the future. Therefore, the Financial Services Commission has drafted a roadmap to gradually allow corporate participation in the virtual currency market without compromising user protection and market stability. Law enforcement agencies such as the prosecution, National Tax Service, Customs Service, and local governments have been allowed to open accounts since last November for the transfer and sale of virtual assets due to the confiscation of criminal proceeds and the compulsory collection of tax arrears. Non-profit corporations, such as designated donation groups, need to receive and liquidate virtual asset donations, and will be allowed to open corporate accounts in the second quarter of this year. However, due to the lack of specific standards and procedures in receiving and liquidating virtual assets, internal control standards need to be established in advance. Exchanges need to sell virtual assets (their own assets) obtained from transaction fees for operational expenses such as employee salaries and taxes, thus requiring urgent sales transactions. Given that such sales transactions may have a proprietary nature, potentially harming users by causing price declines, the South Korean government plans to establish public guidelines to limit the types and quantities of virtual assets sold. The second phase policy, which will be promoted in the second half of this year, plans to allow professional investment corporations to invest in virtual assets. According to the Capital Markets Act, professional investment corporations do not include financial companies but target listed companies and corporations registered as professional investors (about 3,500). This is to pilot transactions for investment and financial purposes, starting with trades from institutional investors with risk-bearing capacity. Due to the potential anti-money laundering risks associated with large-scale virtual asset transactions, the government will implement this after establishing relevant guidelines and monitoring measures. Additionally, since the investment capabilities of various corporations differ, the opening of accounts will undergo detailed review by banks and exchanges. The full participation of ordinary corporations will be studied as a medium to long-term plan, as it involves secondary legislation related to virtual assets and institutional adjustments such as foreign exchange tax systems. The second phase of legislation needs to include regulatory oversight of the business activities of virtual asset exchanges and a regulatory framework for stablecoins. At the same time, the Foreign Exchange Transaction Act needs to be improved to monitor cross-border virtual asset transactions. The Financial Services Commission plans to work with the government and private institutions to establish guidelines for corporate participation in virtual asset investments. Vice Chairman Kim Joo-young stated, "Regarding the second phase of virtual asset-related laws, including stablecoins, traders, and trading supervision, we will accelerate discussions within the virtual asset committee." He also added, "Regarding token securities, relevant legal amendments have been submitted, and we will actively support the National Assembly in swiftly passing the bill."

Trump-backed World Liberty Financial’s MicroStrategy-like token reserve is ‘mostly a clever grift,’ Two Prime CEO says