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    Elon Musk’s DOGE Initiative Gains Access to SEC Systems

    Elon Musk's Department of Government Efficiency (DOGE) is reportedly integrating with the U.S. Securities and Exchange Commission (SEC) as part of a new liaison initiative. This collaboration is testing the boundaries of public-private partnerships in financial regulation and comes at a time when the SEC is pivoting towards a more lenient stance on cryptocurrency—a focus that has been brought up during discussions of the previous administration.
    Key Points
    The newly formed efficiency task force will have access to SEC infrastructure, raising concerns over whether these reforms may compromise the agency’s autonomy during a critical period of crypto policy adjustment. The SEC's diminishing workforce and a reduction in crypto enforcement highlight a regulatory gap increasingly filled by private sector initiatives disguised as cost-saving partnerships. This partnership exemplifies a strategy used during the Trump administration to reshape federal agencies via informal operational alliances rather than transparent policy-making. Musk's DOGE team is gaining entry to SEC systems, treating its members as internal staff for network and data integration. As cited in a Reuters report from March 28, the SEC has allowed DOGE representatives access to its resources.
    Internal Confirmation of DOGE’s Role
    An SEC internal email confirmed that DOGE members will be recognized as staff for purposes related to network access and data integration. The commission is setting up a liaison team to facilitate collaboration with DOGE, adhering to established protocols regarding ethics, IT security, and access approvals.
    “Our intention is to partner with DOGE representatives and cooperate with their requests, following the normal protocols for ethics requirements, IT security, and defining their need for restricted access,” the email indicated.
     
    While DOGE officials will primarily engage through this liaison team, SEC staff have been instructed to respond politely to any direct inquiries, but not provide substantial information without first consulting the liaison team.
    An SEC spokesperson confirmed the onboarding process but did not provide further details regarding Musk's level of involvement. The DOGE task force has not yet responded to requests for commentary.
    The SEC, as the nation’s primary financial regulatory body, manages vast amounts of confidential information, which includes non-public data from banks, public companies, and private investment funds. The decision to grant DOGE access raises questions regarding the initiative's focus and intent, especially given Musk's often contentious history with the SEC.
    The formation of Musk’s DOGE team aligns with government restructuring efforts initiated after Donald Trump took office again in January, during which Trump signed an executive order empowering DOGE to implement cost savings to diminish government expenditures.
    However, some initiatives by DOGE, such as attempts to terminate staff at the U.S. Agency for International Development (USAID) and the closure of the Consumer Financial Protection Bureau (CFPB), have faced legal pushback.
    The SEC Undergoes Fundamental Changes
    As DOGE secures access to SEC systems, the agency is currently experiencing a significant transformation. According to a recent budget report to Congress, the SEC has offered a $50,000 incentive to employees for resignation or retirement, resulting in over 600 departures, which represents about 12% of its total workforce.
    This change is part of broader federal cost-cutting strategies, supported by DOGE, promoting widespread government downsizing. Notably, federal employees have recently been asked to document their weekly achievements, with reports suggesting that noncompliance may lead to job terminations.
    Under Acting Chair Mark Uyeda, the SEC has taken a step back from its previously aggressive approach to crypto regulation. The agency has reversed its stance on several legal actions against firms such as Kraken, OpenSea, and Coinbase, aligning with Trump's push for a more crypto-friendly regulatory environment.
    Trump had previously criticized former SEC Chair Gary Gensler for his stringent regulatory tactics before Gensler’s resignation. Meanwhile, Paul Atkins, Trump’s choice for SEC chair, has indicated a willingness to collaborate with Musk’s DOGE team on improving agency efficiencies.
    As the SEC adjusts its oversight of cryptocurrency markets, the involvement of Musk, Trump, and DOGE highlights ongoing discussions regarding the balance between private influence and public accountability. The results may shape the future of how regulators adapt to emerging technologies without compromising investor protections.
    Frequently Asked Questions (FAQs)
    How could DOGE's integration with SEC systems affect data management?
    Integrating DOGE into SEC data systems may improve procedures and accelerate data sharing. However, this collaboration raises concerns regarding data protection and maintaining unbiased oversight.
    What broader changes might stem from this team integration?
    The inclusion of DOGE could serve as an example of how unconventional teams can merge with established government practices, potentially prompting shifts in operation within federal agencies.
    What risks are associated with uniting private contributions with public oversight?
    This partnership might blur the lines between private influence and public responsibility, risking the dilution of protocols while igniting debates regarding protections for sensitive data and the independence of regulatory bodies.
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    Justin Sun: The Crypto Innovator on Forbes' Cover

    Justin Sun, the founder of TRON, has recently been featured on the cover of Forbes’ Digital Assets section, where he elaborated on his investments in World Liberty Financial (WLF), a project associated with Donald Trump. This spotlight reflects his efforts to merge digital currencies with traditional financial practices, highlighting his connections between technology trends, political networks, and new business opportunities.
    Key Insights
    Forbes showcases Sun’s attempts to integrate digital currencies with conventional finance. His professional journey is marked by daring decisions and a commitment to embedding cryptocurrency into established markets. The profile explores his relationships with political figures amid a complex regulatory landscape. Justin Sun’s Journey in the Cryptocurrency Arena
     
     
     
    Sun has made headlines for his youthful energy, controversial decisions, and swift accumulation of wealth. Born in 1990, he carved out a niche through unconventional strategies within the blockchain industry.

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    Over the last ten years, he has cultivated an expansive crypto ecosystem encompassing public blockchains, payment solutions, trading platforms, and decentralized finance (DeFi) projects. Notably, TRON reportedly serves over 300 million users and processes more than ten million transactions daily, underscoring his ambition to create a more inclusive global payment network through blockchain technology.
    As Global Advisor at HTX, Sun has played a pivotal role in shaping the exchange's trajectory. Recently, HTX was recognized by Forbes as one of the "Top 25 Most Trustworthy Crypto Exchanges in 2025." Under his leadership, the exchange has prioritized compliance and user security while pushing for a seamless connection between traditional finance and blockchain technology.
    Justin Sun's Insights and Achievements
    Sun took to X (formerly Twitter) to express his gratitude, stating, “From a visionary to a global force — honored to be featured on Forbes as Crypto’s Billionaire Barker.” His recognition extends beyond this feature; he was the only Chinese entrepreneur in the top three of Forbes Portugal's “40 Notable Blockchain Entrepreneurs to Watch,” trailing just behind Ethereum co-founder Vitalik Buterin.
    His accolades include appearances in Forbes' “30 Under 30 Asia” lists, showcasing his diverse interests, ranging from art collection and gaming to philanthropy and space exploration. In late 2024, Sun was appointed Prime Minister of the Republic of Liberland, where he champions policies centered on digital freedom and blockchain integration.
    Strategic Investments and Ongoing Legal Challenges
    The Forbes article shed light on Sun's partnership with the Trump family, detailing a collaboration that reportedly generated over $400 million. His $75 million stake in World Liberty Financial exemplifies how cryptocurrency is increasingly intertwining with mainstream business ventures.
    During his interview, Sun emphasized the value of adopting a long-term perspective in the crypto landscape, especially concerning industry volatility and trust fluctuations. Both HTX and TRON prioritize openness, community-driven governance, and transparency.
    Through these platforms, Sun aims to merge traditional finance with Web3, advocating for a shift towards a more transparent and efficient digital economy. Forbes summarizes his impact succinctly, noting, “This Eastern crypto pioneer is redefining global rules with code and consensus.”
    Legal Scrutineer from the SEC
    Sun’s latest ventures occur alongside ongoing scrutiny from the U.S. Securities and Exchange Commission (SEC). The regulator has accused him of fraud, manipulating the market, and offering unregistered securities tied to Tronix (TRX) and BitTorrent (BTT).
    Allegations suggest that Sun and his associates breached federal law by artificially inflating trading volumes. Additionally, updated filings indicate that Sun traveled to the U.S. often during his tenure at the Tron Foundation, despite publicly claiming otherwise.
    In February 2025, both Sun and the SEC called for a 60-day pause in legal proceedings to explore potential resolutions. A joint request indicated that this pause would serve the interests of both parties as well as the public, though it did not clarify whether a resolution would result in a settlement or dismissal.
    As of March 28, 2025, the case remains inactive, with no public updates provided regarding its progress. The outcome is still pending as observers eagerly await the results of the ongoing negotiations between Sun and the SEC.
    Despite the looming legal situation, Sun continues to pursue significant projects while maintaining his visibility in the cryptocurrency sector.
    Frequently Asked Questions (FAQs)
    How might increasing regulatory scrutiny affect digital finance projects?
    Heightened oversight compels companies to adhere to stricter standards. Experts argue this approach can enhance investor confidence and facilitate smoother progress by integrating digital assets with established financial practices.
    In what ways does the integration of digital assets with traditional finance alter market dynamics?
    Combining digital assets with conventional finance reshapes market behaviors and encourages broader participation. Analysts view this blend as a bridge connecting modern technology with tried-and-true financial systems to attract a diverse audience.
    Can collaborations with political figures influence the development of crypto markets?
    Alliances with political figures can shape public perception and influence regulatory measures. Observers suggest that such partnerships may bolster market confidence and pave the way for policies that unify cryptocurrency and traditional economic practices.
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    Trump Media Partners with Crypto.com to Unveil New ETFs

    Trump Media has entered into a non-binding agreement with the cryptocurrency exchange Crypto.com, aiming to introduce a range of exchange-traded funds (ETFs) that will focus on digital assets and securities.
    According to a statement released on March 24, the collaboration involves Trump Technology Group Corp (TMTG), which oversees the social media platform Truth Social as well as the fintech brand Truth.Fi. This initiative is still pending regulatory approval.
    The ETFs are expected to debut later this year through Crypto.com’s broker-dealer branch, Foris Capital US LLC. The funds will highlight a "Made in America" theme by including various digital assets and securities.
    Crypto.com will supply the necessary infrastructure and custody solutions, providing the cryptocurrencies for these funds, potentially comprising a range of tokens, including Bitcoin. The ETF offerings are projected to reach a global audience, with accessibility across existing brokerage platforms in the U.S., Europe, and Asia.
    Kris Marszalek, co-founder and CEO of Crypto.com, stated, “Once launched, these ETFs will be accessible on the Crypto.com App for our more than 140 million users worldwide.”
    Additionally, the ETFs are anticipated to be unveiled alongside a lineup of Truth.Fi Separately Managed Accounts (SMA), which TMTG intends to bolster with its financial reserves.
    This possible ETF rollout adds to the growing list of crypto-related initiatives associated with former U.S. President Donald Trump.
    However, Democratic lawmakers have raised concerns about potential conflicts of interest stemming from Trump’s presidential responsibilities in light of the Trump Organization's ownership of World Liberty Financial, a crypto platform, in addition to the TRUMP memecoin that was launched just three days prior to his inauguration.
    House Representative Gerald Connolly recently labeled the TRUMP token a “money grab,” claiming it has enabled Trump-connected entities to profit over $100 million in trading fees. Furthermore, Democrat Maxine Waters criticized the memecoin on January 20, describing it as a rug pull that exemplifies “the worst of crypto.”
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    Crypto.com Under Fire: Accusations of CRO Token Supply Manipulation

    Recently, Crypto.com has been thrust into the spotlight of controversy after an alleged reversal of a substantial token burn process involving 70 billion Cronos (CRO) tokens that were initially declared permanently destroyed in 2021. This move has drawn sharp criticism from the crypto community, who argue that it compromises the foundational principles of decentralization and transparency within the cryptocurrency sector.
    The uproar began on March 25 when on-chain investigator ZachXBT took to X to accuse Crypto.com of reintroducing tokens that were previously removed from circulation. He stated, “CRO is no different from a scam,” expressing concerns that this reissuance accounted for 70% of the overall token supply and diverged from the expectations of the community. In his post, he contended, “Your team just reissued 70B CRO a week ago that was previously burned ‘forever’ in 2021, going against the wishes of the community because you control the majority of the supply.”
    This decision to reissue the tokens appeared to coincide with reports regarding a non-binding partnership between Trump Media and Crypto.com aimed at launching U.S. crypto exchange-traded funds (ETFs) via Crypto.com’s broker-dealer, Foris Capital US. ZachXBT expressed bafflement over why Truth Media would prefer collaborating with Crypto.com instead of other established exchanges like Coinbase, Kraken, or Gemini given the recent developments.
    Suddenly increasing the circulating supply of tokens can lead to a dilution of value for existing coins, often triggering a decline in prices driven by the mechanics of supply and demand.
    CEO's Justification Amidst Backlash
    In light of the growing criticism, Crypto.com CEO Kris Marszalek defended the company's actions. He explained that the decision was essential for fostering investment growth in light of the evolving political landscape in the United States. During a March 25 AMA on X, he remarked, “Cronos and Crypto.com have been operating independently for years. The initial token burn in Q1 2021 was a defensive maneuver. At that time, it was justifiable. Now, with strong support from the new administration, the war on crypto has concluded [...] We need an aggressive investment approach to succeed.” He added, “This is what the community desires; we should be thinking in terms of dollars, not cents.”
    Worries About Governance and Decentralization
    Beyond the immediate financial implications, critics have raised alarms regarding potential manipulation of the governance process that facilitated the CRO reissuance. Reports from March 19 indicated that Crypto.com’s validators wield approximately 70% of the voting power on the blockchain, raising concerns that they can effectively nullify community votes.
    As per sources cited by Laura Shin in Unchained, it is claimed that Crypto.com controls between 70% and 80% of the total voting power, effectively diminishing the necessity for any genuine governance voting.
    In response to the ongoing controversy surrounding the return of 70 billion CRO tokens, Marszalek took to X on March 19 to assure the public of the firm’s financial stability and regulatory standing.

    Overall, Crypto.com had initially announced the 70-billion-token burn in a now-deleted blog post from February 2021, characterizing it as the "largest token burn in history," with the intent of achieving complete decentralization at the time of the CRO mainnet launch. The blog emphasized, “In alignment with our vision, and with the CRO chain’s mainnet launch approaching, we are fully decentralizing the chain network,” proclaiming the immediate destruction of 59.6 billion tokens.
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    SEC's Ripple Decision & Trump's Call For Stablecoin Regulations

    A significant shift in cryptocurrency regulation is underway as the SEC wraps up its long-standing legal engagement with Ripple, while policymakers are advocating for straightforward stablecoin regulations designed to reshape market oversight and enhance investor trust.
    Key Points to Consider:
    The SEC's withdrawal from the Ripple case suggests a trend toward more streamlined regulatory practices. The push for stablecoin regulations aims to set uniform standards that simplify compliance and lower market confusion. These developments could cultivate a clearer landscape, encouraging greater participation and engagement from institutional investors. The evolving regulatory framework in the U.S. could serve as a model for international standards, prompting a reassessment of digital asset regulations globally. The landscape of cryptocurrency regulation saw intensified activity this week, highlighted by two pivotal events in the U.S.: the SEC concluding its significant legal battle with Ripple concerning XRP and President Donald Trump advocating for established stablecoin regulations.
    In addition, the U.S. Treasury Department lifted sanctions on the Ethereum mixer Tornado Cash, while Germany's BaFin stepped up its enforcement efforts against Ethena's USDe token. Meanwhile, Pakistan is actively considering the legalization of cryptocurrency as a means to promote economic growth.
    These occurrences underscore the rapidly evolving global regulatory landscape as nations strive for clearer crypto regulations while balancing innovation and effective oversight.
    SEC Closes Ripple Case, Influencing Crypto Regulation
    The U.S. Securities and Exchange Commission (SEC) has officially concluded its extensive legal proceedings against Ripple, putting an end to the contentious issue of whether XRP qualifies as a security. Ripple's CEO, Brad Garlinghouse, published a statement on X that conveyed the importance of this resolution, confirming that XRP was not deemed a security.
    Ripple's CEO Announcement
    Ripple has consistently argued that XRP should not be classified as a security and has challenged the SEC's stringent enforcement actions, which the company believes have adversely affected XRP investors. Legal analysts view this case's resolution as a pivotal moment, potentially shifting regulatory perspectives towards cryptocurrencies.
    Legal professional Seth Goertz, a partner at Dorsey & Whitney LLP and former federal prosecutor, remarked that this outcome is crucial in establishing legal clarity for the crypto domain, particularly regarding the classification of digital assets under securities laws.
    Following the announcement, XRP saw a significant surge in its market value, positioning itself as the third-largest cryptocurrency by market capitalization, even outpacing major stablecoins like Tether. The resolution is anticipated to promote regulatory transparency and enhance investor confidence, especially for digital asset exchanges that previously navigated a legal gray area.
    Daniel Stabile from Winston & Strawn LLP expressed that the SEC ending the case could indicate a shift toward legislative measures rather than litigation as the primary means of establishing clear guidelines for crypto markets.
    Trump Advocates for Stablecoin Regulation and U.S. Crypto Leadership
    In a recent address at the Digital Assets Summit in New York, Donald Trump called upon Congress to enact stablecoin regulations featuring "simple, common-sense rules." He also expressed his commitment to positioning the U.S. as a frontrunner in the global cryptocurrency arena.
    This advocacy aligns with the industry's demands for clearer regulations, which would balance the need for innovation with financial stability. If ratified, such legislation could provide a clearer operational framework for stablecoins within the U.S. financial ecosystem, potentially drawing more institutional investors into the sector.
    Treasury Lifts Sanctions on Tornado Cash, Yet Cautions Remain
    In a notable policy shift, the U.S. Treasury has removed sanctions on Tornado Cash, an Ethereum-based mixer that had been previously targeted for allegedly aiding illegal transactions. This decision comes after a reevaluation of the financial sanctions applicable to decentralized platforms, especially as the crypto landscape continues to evolve.
    While this change signals a more flexible stance from the Treasury, officials have underscored their commitment to combating financial crimes. The agency continues to express concerns regarding cyber threats, particularly those associated with state-sponsored hacking and money laundering operations linked to North Korea.
    U.S. citizens and businesses are urged to exercise caution when interacting with digital asset services that could be misused for malicious activities. The revocation of sanctions indicates regulators may be adopting a more nuanced approach to decentralized finance (DeFi), recognizing both its inherent risks and its promising potential.
    Germany Tightens Regulations on Ethena's USDe Token
    In Europe, German financial authority BaFin has taken action against Ethena GmbH, freezing its asset reserves due to concerns about the approval process for its USDe token. BaFin suspects that Ethena GmbH is offering unregistered securities, including USDe and sUSDe tokens, without the necessary approval under the recent Markets in Crypto-Assets (MiCA) regulations.
    This crackdown on Ethena underscores the intensifying regulatory pressure in the European Union, as authorities enforce the newly implemented MiCA framework. The evolving oversight landscape poses compliance challenges for other crypto companies, which may also need to revisit their operational strategies to align with MiCA guidelines.
    Pakistan Considers Legalizing Cryptocurrency for Economic Growth
    In stark contrast to tightening regulations elsewhere, Pakistan is exploring the possibility of legalizing cryptocurrency trading to attract international investment and drive economic advancement. Bilal bin Saqib, the chief advisor to Pakistan’s finance minister for digital assets, noted the nation’s ambition to utilize its young, tech-savvy demographic to establish itself as a Web3 hub.
    With around 60% of its population under the age of 30, Pakistan views cryptocurrency as a prospective avenue for financial inclusion and technological progress. If successful in formulating a regulatory framework for cryptocurrencies, Pakistan could emerge as a significant player in the digital asset domain, particularly within South Asia. However, questions remain about how the government will navigate the delicate balance between regulation and innovation.
    The Future of Global Crypto Regulation: A Delicate Balance
    Recent developments highlight the intricate and often contradictory nature of global cryptocurrency regulation. The U.S. is beginning to form a more structured regulatory framework, while Europe amplifies enforcement actions. Concurrently, emerging markets such as Pakistan are considering adopting cryptocurrencies as a path toward economic growth.
    As regulatory practices evolve, governments worldwide are starting to acknowledge the enduring role of crypto in the financial landscape. The challenge now lies in striking the right balance between oversight, innovation, and maintaining financial security.
    Whether through stablecoin regulations, reevaluations of sanctions, or new frameworks for token approvals, the forthcoming months could significantly define the future trajectory of cryptocurrency.
    Frequently Asked Questions (FAQs)
    How will the SEC’s withdrawal affect crypto enforcement?
    The SEC's withdrawal indicates a transition from strict litigation to the establishment of clear, consistent regulations, aimed at reducing enforcement burdens and creating a stable regulatory environment, thereby minimizing uncertainty for crypto operators.
    What benefits can clear stablecoin regulations offer?
    Defining stablecoin regulations can standardize market practices and lower compliance expenses. Clear guidelines can boost investor confidence and foster innovation by eliminating legal ambiguities that hinder institutional investment.
    How might these changes influence global crypto standards?
    Shifts in U.S. policy could set international benchmarks, prompting other countries to revamp their frameworks. A unified approach can enhance cross-border investments and harmonize digital asset conventions worldwide.
    What impact could clearer crypto rules have on institutional investment?
    Clearer regulations diminish legal risks and operational uncertainties, rendering the market more appealing to institutional players. Predictable oversight may encourage long-term investments and deepen overall market engagement.
    What further changes can we expect in the crypto regulatory landscape?
    We anticipate gradual updates as regulators refine their strategies through ongoing industry discussions. Future legislative measures will likely focus on major market participants while clarifying compliance standards for digital assets.
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    TRON & Pump.fun Unite to Launch PumpSwap: A New Era in Decentralized Exchanges

    Geneva, Switzerland – March 20, 2025 – TRON DAO, the community-driven organization focused on promoting the decentralization of the internet through blockchain technology and decentralized applications (dApps), is excited to announce its collaboration with pump.fun, a premier crypto token launchpad that enables anyone to create their own token for free. Together, they are set to launch PumpSwap, a groundbreaking decentralized exchange (DEX) designed to enhance liquidity access and foster cross-chain interoperability, facilitating a seamless entry point for the broader Web3 ecosystem.
    What sets PumpSwap apart from traditional DEXs is its direct integration with pump.fun, which enhances user efficiency by removing the necessity for token migration. This streamlined connection significantly improves liquidity provisioning, enabling token creators to trade and manage their liquidity instantly without any delays.
    In an upcoming feature, pump.fun will implement a token revenue-sharing model that allows creators to earn a portion of the fees generated from their tokens. This aligns the long-term interests of token creators with those of their holders, promoting a more sustainable environment for memecoins and beyond. Additionally, the platform acts as a bridge between different ecosystems, utilizing LayerZero and Wormhole technology to enable cross-chain liquidity across various blockchain networks.
    This partnership marks a significant milestone in broadening pump.fun's scope beyond just memes; it is evolving into a central hub for crypto adoption. PumpSwap serves as an entry point for users to navigate various blockchain ecosystems, circumventing traditional fiat onramps and simplifying the process of purchasing and trading tokens across different networks.
    "TRON is committed to fostering blockchain innovation and increasing accessibility throughout the Web3 ecosystem," stated Justin Sun, Founder of TRON. "Our collaboration with pump.fun on PumpSwap not only enhances liquidity access but also improves cross-chain interoperability, contributing to the overarching goal of making decentralized finance more user-friendly and inclusive."
    "pump.fun has democratized the token creation process, established standard token contracts, and made cryptocurrency accessible to everyone," said Alon Cohen, Co-Founder of pump.fun. "By building the largest social network in crypto and establishing connections across various communities, partnerships like the one with TRON allow us to provide cross-chain liquidity on PumpSwap, which is fundamental to our mission."
    TRON’s engagement in this project further reinforces its dedication to cross-chain innovation and expanding access to decentralized finance (DeFi). As PumpSwap develops, it aims to become a vital liquidity hub, supporting on-ramps and off-ramps across multiple blockchains while promoting broader adoption of Web3 technologies.

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    About TRON DAO
    TRON DAO is a community-governed organization devoted to accelerating the decentralization of the internet through blockchain technology and decentralized applications. Established in September 2017 by H.E. Justin Sun, TRON has undergone impressive growth since the launch of its MainNet in May 2018. Until recently, TRON hosted the largest circulating supply of USD Tether (USDT), exceeding $60 billion. By March 2025, the TRON blockchain has recorded over 293 million total user accounts, more than 9.8 billion total transactions, and over $18.2 billion in total value locked (TVL), according to TRONSCAN.
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    Cronos Approves $5.6 Billion CRO Token Reissuance, Raising Centralization Concerns

    The recent decision effectively brings the total supply of CRO tokens back to its original limit of 100 billion.
    Cronos, a Layer 1 blockchain associated with Crypto.com, has approved a governance initiative allowing for the reissue of 70 billion CRO tokens worth $5.6 billion that were previously burned in 2021. This approval restores the total supply of CRO tokens to a maximum of 100 billion, with the newly minted tokens allocated to a strategic reserve wallet set to be vested over multiple years.
    According to the proposal, Crypto.com plans to utilize these restored tokens to facilitate the growth of its ecosystem. This includes efforts to establish a CRO exchange-traded fund (ETF) to cater to the rising institutional interest in cryptocurrencies.
    Crypto.com’s Influence Sparks Concerns Over Centralization
    The decision has ignited backlash regarding potential centralization issues, as validators linked to Crypto.com significantly influenced the approval process. Voting data from Mintscan indicated that independent validators predominantly opposed the reissuance, while major validators such as Electron, Antares, and Minotaur IV, connected to Crypto.com, played a crucial role in tipping the vote in favor of the initiative.
    Critics highlighted a suspicious last-minute influx of 3.35 billion CRO votes that drastically shifted the voting outcome. During the vote, held from March 2 to March 16, there was initially a slim margin between the yes and no votes. Moreover, the proposal encountered challenges in reaching the requisite 33% quorum until a late surge of votes pushed participation over the 70% threshold, ultimately leading to its approval.
    The final voting results revealed that 62.1% were in favor, 17.6% opposed, 20.1% abstained, and 0.11% exercised veto power. Industry critics, including Andre Cronje, the co-founder of Sonic, promptly raised alarms about possible governance manipulation. Cronje noted that just one significant vote could inflate Cronos' market capitalization from $2.5 billion to $8.5 billion overnight, casting doubt on the blockchain's decentralization.
    This approval raises important questions about governance transparency in blockchain ecosystems, especially when centralized entities hold substantial sway over critical decisions. The Cronos Chain, which utilizes the Cosmos SDK, became operational in November 2021, and a Layer 2 Cronos zkEVM blockchain on Ethereum is currently in development.
    At present, CRO has a circulating supply of 26.5 billion tokens, with a maximum limit of 30 billion and a market value of $2.13 billion. Following the approval of the reissuance proposal, CRO’s price fell to $0.080, experiencing a decline of over 7% within 24 hours, as per CoinMarketCap data.
    Crypto.com Expands Services Across European Economic Area
    In related news, Crypto.com has received a Markets in Crypto-Assets (MiCA) license from the Malta Financial Services Authority, enabling the exchange to officially extend its services to all the member states of the European Economic Area (EEA). This achievement marks Crypto.com as the first significant global crypto asset service provider to obtain full MiCA approval, allowing operations in the 30 countries of the EEA.
    Recently, the platform also launched trading for stocks and ETFs targeting U.S. users in states such as Pennsylvania, Ohio, Washington, and Arizona. Plans for a nationwide rollout of this feature are underway, offering users zero-commission trades, fractional shares, and seamless securities transfers within the app.
    Additionally, Crypto.com has introduced an institutional trading platform in the United States, aimed at enhancing its existing retail trading mobile application for cryptocurrencies. This new platform will provide over 300 trading pairs and sophisticated trading tools tailored for institutional clients, indicating the company’s ambitious strategy to penetrate Wall Street.
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    Bitcoin Faces Challenges Below $85,000 Amid Bull Market Uncertainty

    The leading cryptocurrency has been unable to break through the $90,000 threshold for more than a week now.
    As of March 14, Bitcoin continues to struggle below the $85,000 mark, despite the S&P 500 index witnessing a 1.9% increase. This lack of momentum raises concerns among traders regarding the durability of the current bull market and the persistence of selling pressure.
    Bitcoin’s Basis Rate Indicates Steadiness Despite Price Decrease
    Following a significant decline of 30% from its peak of $109,354 on January 20, Bitcoin's derivatives market is showing signs of resilience.
    The Bitcoin basis rate, which reflects the premium on monthly contracts compared to spot markets, has bounced back after briefly indicating bearish sentiment on March 13. Traders usually seek a 5% to 10% annualized premium as compensation for the longer settlement periods; while Bitcoin’s current basis rate of 5% is lower than the 8% recorded two weeks ago, it remains in a neutral zone. This indicates that leveraged buyers are still participating in the market, albeit with decreased confidence.
    The relationship between Bitcoin's price movements and the S&P 500 challenges the long-held belief that Bitcoin operates independently of traditional financial markets. Amid ongoing global economic uncertainties, investors seem to be reducing their exposure to riskier assets such as Bitcoin and are opting for safer investments like short-term bonds.
    Nonetheless, central banks are anticipated to implement stimulus measures to avert an economic downturn, which could be beneficial for Bitcoin as a limited asset. According to the CME FedWatch tool, markets currently assess a less than 40% chance of U.S. interest rates dropping below 3.75% from the existing 4.25% benchmark prior to the July 30 Federal Open Market Committee (FOMC) meeting.
     

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    Bitcoin Derivatives Show Stability Amid Market Fluctuations
    Despite the recent market volatility, Bitcoin derivatives have remained stable. The 25% delta skew, a crucial indicator for options traders, shows that professional traders are not actively hedging against further declines. This suggests that the market does not expect Bitcoin to plummet to $76,900 in the near term.
    In bullish environments, put (sell) options typically trade at a discount of 6% or more, while bearish periods see this metric shift to a premium of 6%. While there were brief spikes in bearish sentiment observed on March 10 and March 12, the delta skew has stayed within a neutral range, indicating a robust derivatives market.
    Investor confidence is further reflected in Bitcoin's margin market. At OKX, the long-to-short margin ratio is currently reported at 18:1, signaling strong bullish positioning. Historically, extreme confidence has pushed this ratio above 40:1, while levels below 5:1 suggest bearish sentiment. This current ratio resembles that of January 30, when Bitcoin was trading above $100,000.
    Over $920 million in leveraged long futures contracts were liquidated in the week leading up to March 13, contributing to short-term volatility. Nevertheless, Bitcoin's derivatives and margin markets show no substantial signs of distress, implying that investor sentiment remains healthy.
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    dYdX Revamps Roadmap For Enhanced Trading & User Experience

    dYdX, the decentralized trading platform for perpetual contracts, has announced a significant update to its roadmap, focusing on faster transactions, improved stability, and a trading experience tailored for retail users. The platform aims to expand its asset offerings while enhancing advanced features to attract a broader audience.
    Key Updates from dYdX's Roadmap
    Recently, dYdX shared a comprehensive roadmap update addressing serious improvements intended to optimize trading speed, platform reliability, and user engagement. The main goal is to enhance user experience amidst the challenges posed by market volatility.
    To tackle the issues resulting from instabilities, particularly during intense price fluctuations, dYdX is deploying a dedicated team of engineers. Their mission is to eliminate downtime and outdated data, ensuring that traders receive reliable information without interruptions by the end of the first quarter.
    A significant part of this plan is to enhance the speed of deposits and withdrawals. At present, users must often wait around 18 minutes to complete transactions. However, with a new integration with Skip, dYdX aims to reduce this time to less than one minute, enabling traders to respond promptly to market changes.
    Another major enhancement involves improving the mobile trading experience. The upcoming mobile interface will make trading more accessible to everyday investors. Once the mobile app is launched, these advancements will be extended to mobile web and Android users.
    Moreover, dYdX is enhancing its web interface to accelerate loading times and introduce new order types, including reduce-only limit orders, order scaling, and time-weighted average price (TWAP) orders, in addition to providing historical data on funding rates.
    To foster a culture of transparency, dYdX plans to share bi-weekly updates regarding development progress to keep the community well-informed.
    Vision for Growth and Innovation
    After implementing these immediate improvements, dYdX is set to reveal an expansive roadmap for the remainder of the year. This long-term vision encompasses the expansion of asset offerings, the integration of new price feed mechanisms, and the inclusion of real-world assets.
    Furthermore, dYdX intends to integrate with Ethereum via IBC Eureka, allowing token transfers underpinned by ZK light client security. This integration could pave the way for spot trading and facilitate multi-collateral options, enhancing the platform's capabilities.
    In terms of capital efficiency, the forthcoming MegaVault feature is designed to optimize liquidity usage while safeguarding against risks.
    Additionally, dYdX seeks to broaden its distribution reach by collaborating with wallet providers and aggregators, which will enhance accessibility for traders.
    To support algorithmic traders, the platform is improving its integration with systematic trading tools such as Hummingbot and CCXT.
    Additional developments may include the introduction of tiered fee discounts for stakers, new reward programs, and other tokenomics initiatives designed to bolster user engagement.
    dYdX's Future: Ambition, Resilience, and Market Leadership
    With a financial portfolio of $150 million held at dYdX Labs, alongside additional resources within its Decentralized Autonomous Organization (DAO), the platform is well-positioned to execute its ambitious plans.
    Despite the unpredictable nature of the market, dYdX remains optimistic about the continued growth of the DeFi derivatives sector, predicting that it may eventually surpass trading volumes on centralized exchanges.
    This roadmap update arrives on the heels of the recent dYdX Chain upgrade to version 8.0, which introduced permissioned keys to enhance account control and the capability to remove inactive markets for a more streamlined platform.
    Moreover, it has been reported that dYdX is in discussions to sell a portion of its derivatives trading software, with potential buyers including major market players like Wintermute Trading and Selini Capital.
    Currently, dYdX is focused on refining its infrastructure, expanding its product offerings, and growing its user base. The long-term goal remains to achieve dominance in the decentralized derivatives trading arena, although it remains in a highly competitive space with ongoing innovations from both competitors and centralized exchanges.
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    SEC Greenlights Nasdaq Proposal For Grayscale’s HBAR Trust ETF: A Step Toward Digital Asset Regulation

    The U.S. Securities and Exchange Commission (SEC) has officially recognized Nasdaq's proposal to list and trade shares of the Grayscale Hedera Trust, marking a pivotal moment for institutional investment in Hedera and cryptocurrency assets. This acknowledgment indicates an increasing institutional appetite for regulated cryptocurrency investment products.
    SEC Acknowledges HBAR Trust ETF Proposal
    The SEC's recognition initiates a 21-day public comment window, providing industry participants the opportunity to express their views before the SEC makes a definitive decision to approve, reject, or request further review of the proposal.
    This commodity-based trust structure will directly hold HBAR, Hedera's native token, with shares signifying fractional ownership of the trust's assets. However, it's essential to note that unlike conventional spot ETFs, this trust does not facilitate direct redemptions, which means shares might trade at either a premium or discount compared to the actual asset value.
    Administration of the trust will be conducted by BNY Mellon Asset Servicing, while CSC Delaware Trust Company will function as the trustee, and Coinbase Custody Trust Company will manage the custody of the assets.
    Market sentiment around this development has been largely positive, evidenced by a more than 7% increase in HBAR's value over the past 24 hours following the SEC's acknowledgment.

    Investment Implications of the HBAR Commodity-Based Trust ETF
    Grayscale’s Hedera Trust is designed to offer regulated exposure to HBAR through its commodity-based structure. While this trust allows for the buying and selling of shares, it's important to understand that the share prices may not always reflect the real-time market value of HBAR because of the absence of direct redemptions.
    The structure is designed to mitigate counterparty risks, thereby simplifying digital asset exposure for institutional investors. BNY Mellon will oversee governance and operational protocols to maintain compliance, while Coinbase Custody Trust Company will ensure the secure management of digital assets.
    With the SEC's acknowledgment of Nasdaq's filing, analysts speculate that institutional interest in HBAR could significantly increase. If approved, the trust is likely to draw further investments into Hedera's ecosystem, potentially influencing HBAR's long-term market dynamics.

    SEC's Approach to Crypto ETFs Amid Market Trends
    As the SEC progresses with its review of Grayscale’s HBAR Trust, it has simultaneously postponed decisions on several altcoin ETFs, including Grayscale’s XRP ETF and Cboe BZX Exchange’s spot Solana ETF, both of which are under further review until May. These delays are considered indicative of the SEC's cautious approach toward validating new cryptocurrency-based financial instruments.
    However, Bloomberg ETF analyst James Seyffart reassured that such postponements are a customary part of the review process rather than signs of outright denial. Historically, the SEC has been reluctant to approve spot cryptocurrency ETFs but has gradually shifted its stance, especially following changes in leadership after former SEC Chair Gary Gensler stepped down.
    Moreover, the SEC has been inundated with ETF applications in light of changing political landscapes, including the recent political shifts following Trump’s electoral return. Notably, the most recent application in this wave is from Bitwise for its Bitcoin Standard Corporations ETF, which aims to track companies that hold at least 1,000 BTC in their corporate treasuries. This ETF aims to provide indirect exposure to Bitcoin, capitalizing on the increasing trend of corporations designating a portion of their cash reserves to Bitcoin, regarding it as a strategic reserve asset amid government monetary policies.
    In summary, the acknowledgment of Grayscale's HBAR Trust reflects the evolving regulatory landscape under the current administration, which is becoming increasingly pro-crypto regarding cryptocurrency ETFs. While full approval remains uncertain, this development signals enhanced acceptance of digital asset investment vehicles within traditional financial realms. The SEC's forthcoming decision is likely to set a precedent for how other pending cryptocurrency ETF applications will be processed.
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    Unciphered's Crypto Security Crisis: Co-Founder’s Troubling History Unveiled

    Unciphered, a rising name in the cryptocurrency password recovery sector, is grappling with internal discord after revelations emerged surrounding one of its secret co-founders, Morgan Marquis-Boire. Accusations of repeated sexual assault have raised significant alarm among employees and contractors, particularly those with backgrounds in U.S. intelligence agencies.
    The Washington Post reports that Marquis-Boire's undisclosed background has caused concern among Unciphered's workforce, many of whom are former members of organizations like the CIA, NSA, and FBI. These professionals had previously introduced the company to key government officials as a potential asset, complicating its reputation amidst these allegations.
    A Co-Founder with a Checkered Past
    Morgan Marquis-Boire, initially from New Zealand, is a former security engineer at Google known for his expertise in high-end spyware analysis. He also collaborated with organizations like Citizen Lab and the Electronic Frontier Foundation (EFF), working on significant privacy and security initiatives.
    However, in 2017, he effectively vanished from public life following sexual assault allegations from several women. These accusations resulted in numerous organizations, including Citizen Lab, distancing themselves from him over concerns of a “toxic culture of sexual discrimination, harassment, and violence” in the tech industry.
    Despite the severity of these accusations, Marquis-Boire operated under the pseudonym "Frank Davidson" while co-founding Unciphered. His true identity remained a secret until late 2023 when company employees uncovered it.
     
     
     
    Unciphered's Rise and Fallout
    Founded four years ago, Unciphered has focused on recovering lost cryptocurrency funds by cracking digital wallets. Its innovative approach attracted high-profile cybersecurity professionals, including former NSA general counsel Stewart Baker and security expert Chris Wysopal. The company gained recognition in major media outlets such as Wired, Fortune, and The Washington Post, and has been featured in an upcoming Netflix documentary.
    Unciphered's business model involves enlisting elite hackers and utilizing sophisticated computing technologies to retrieve locked cryptocurrencies, sharing a portion of the recovered funds with clients. However, the revelation regarding Marquis-Boire's concealed role plunged the company into turmoil, raising concerns among employees about the impact on their professional reputations.
    Employee Uproar and Leadership Changes
    As details surrounding Marquis-Boire’s history came to light, employees voiced their concerns, fearing the reputational damage his association could inflict. Jon Ellch, a former FBI cybersecurity specialist, along with other employees, urged leadership to sever ties with Marquis-Boire.
    With escalating pressure, CEO Eric Michaud resigned, and Marquis-Boire exited the company. However, the situation resurfaced in early 2024 when a package addressed to him arrived at Unciphered’s San Francisco office, reigniting anxiety about his potential influence within the firm.
    In response to media inquiries, the remaining leadership at Unciphered acted swiftly, clarifying that Marquis-Boire’s shares had been bought out in February 2024 and that he was no longer involved. Michaud removed his LinkedIn profile and ceased all public communication.
    To further address the ongoing controversy, Unciphered eliminated all employee names from its website, citing safety concerns. A company statement reassured that "no one publicly associated with Unciphered has access to company or client funds," as reported.
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    SEGA's Iconic Trading Card Game Launches On Sui Blockchain

    Jokers Inc. has made significant strides in the gaming industry by securing multiple licensing deals with prominent Japanese character IPs, all set to debut on the Sui blockchain.
    Parasol, a gaming infrastructure startup and a subsidiary of Mysten Labs, has announced that CODE OF JOKER: EVOLUTIONS, a trading card game licensed by SEGA, will be introduced on Sui. This partnership aims to integrate blockchain technology into gaming experiences seamlessly.
    Originally released by SEGA Corporation over a decade ago in 2013, the CODE OF JOKER trading card game has garnered a significant following. CODE OF JOKER: EVOLUTIONS marks the next evolution in this beloved series, with its anticipated release on iOS, Android, and the web slated for late summer 2025.
    Digital Ownership and Blockchain Integration
    According to the press announcement, these digital trading cards are transitioning onto the blockchain, allowing players to verify ownership digitally. This integration will enable collectors to trade and showcase their card collections efficiently, with Sui as the underlying technology.
    Evan Cheng, CEO and Co-Founder of Mysten Labs, shared his enthusiasm about the project's potential. He stated, “During our initial meeting with the Parasol team last year, it became clear that we both believed gaming will lead the way in the Web3 revolution.” He emphasized that gamers are likely to be early adopters of the decentralized economy.
    Cheng added, “With the rich variety of SEGA IPs, CODE OF JOKER: EVOLUTIONS represents an ideal collaboration between classic gaming and blockchain technology.”
    Kai Chen, CEO of Parasol, remarked that developing this game has been “a labor of love” for the team, who grew up influenced by classic Japanese gaming. He highlighted Sui as the only blockchain that fulfills the technical requirements for Parasol's gaming collaborations, expressing gratitude for the support from Jokers Inc. and SEGA.
    Expanding the Web3 Gaming Landscape
    Takashi ‘Gin’ Mizouka, co-founder of Jokers Inc., noted that the firm has already secured several major licensing agreements with recognized Japanese character IPs. He mentioned, “These additions will significantly enhance the Web3 gaming arena.” Mizouka shared that this initiative is merely the beginning of many future collaborations with Parasol.
    Jokers Inc. features experienced leadership from former SEGA producers, such as Yasuhiro Nishiyama, known for titles like Sangokushi Taisen and CODE OF JOKER, and Wataru Sato, producer of Bakugan.
    Mizouka commented, “From our initial discussions about the digital experience of CODE OF JOKER: EVOLUTIONS, we aimed to replicate the exciting feeling of opening a new pack of cards.” The company's goal is to utilize blockchain to create a future where digital trading cards can be exchanged like their physical counterparts, blurring the lines between digital and physical trading card games.
    On March 7, Mysten Labs announced its acquisition of Parasol, enabling Parasol to onboard its gaming partners onto the Sui platform. The team noted that Parasol provides user-friendly REST APIs, allowing developers to implement essential functionalities such as in-game item tokenization, marketplaces, and on-chain gameplay—all exclusively available on Sui.
    Additionally, Mysten Labs is developing SuiPlay0X1, a hardware device designed for seamless play of both Web2 and Web3 games, in collaboration with Playtron OS.
    Current Market Status for SUI
    At the moment, the SUI token is trading at $2.23, reflecting a 2% decline over the day, a 20% decrease over the week, and a 30% drop over the month. However, its price has risen by 40% year-over-year, despite a drop from its all-time high of $5.35 reached in January 2025, representing a 58% decline since that peak.
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    Russia Turns To Crypto To Skirt Sanctions In Oil Deals With China & India

    Amid increasing sanctions from Western nations, Russia has started utilizing cryptocurrencies to facilitate its oil transactions with China and India. This strategy enables the country to circumvent financial restrictions that have impacted its economy.
    While the Russian government has publicly endorsed the use of digital currencies for international trade, the specific application of these currencies in oil exports has been somewhat concealed until now. The legalization of cryptocurrency payments for cross-border transactions was enacted last summer, further empowering this trend.
    The Rising Role of Cryptocurrencies in Russian Oil Trade
    Sources acquainted with the situation have disclosed that several Russian oil firms are employing cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and stablecoins like Tether (USDT), to streamline the exchange of currencies, particularly between the Chinese yuan, Indian rupee, and Russian rouble.
    Even though these crypto transactions represent a relatively small portion of Russia's massive $192 billion oil sector, their use is on the rise as a method to reduce dependence on the U.S. dollar, which is pervasive in global energy markets. All sources opted for anonymity due to the sensitive nature of the matter.
    The tendency for sanctioned nations like Iran and Venezuela to adopt cryptocurrencies for trade has caught on in Russia as well. These countries have historically relied on digital assets to maintain trading channels without the interference of dollar-denominated financial sanctions.
    Following renewed U.S. sanctions, Venezuela notably escalated its use of cryptocurrencies for exporting crude oil and fuel.
    How Crypto Transactions Work in Russian Oil Trade
    Insiders explained a structured approach to using cryptocurrencies in the oil industry: a Chinese buyer initiates the process by depositing yuan into an offshore account managed by an intermediary. This intermediary subsequently converts the yuan into cryptocurrency. The digital assets are then transferred to another account before being sent to a Russian entity, where they are exchanged for roubles to finalize the transaction.
    This method offers a swift and effective alternative to conventional banking channels, which have become more restricted due to financial sanctions. One source familiar with the oil trading sector indicated that some cryptocurrency-based transactions involve tens of millions of dollars each month.
    Despite the growing incorporation of digital currencies, traditional fiat currencies still account for the majority of Russian oil transactions. Analysts have noted a broader strategy involving the use of alternative currencies, such as the UAE dirham, to further evade financial constraints.
    Regulatory Concerns Surrounding Crypto in Russia
    Regulatory bodies have begun to take notice of the rising use of cryptocurrencies. The central bank of Russia has not yet addressed these developments publicly, though it has previously acknowledged the complications presented by delays in payments stemming from sanctions, which weigh heavily on the nation's economy.
    In light of increasing financial scrutiny, the U.S. and European Union have stepped up their efforts to suppress Russia's crypto activities. In 2022, the U.S. imposed sanctions on the Russian exchange Garantex, which was followed by similar actions from the EU in February. Tether subsequently blocked wallets linked to Garantex, leading to the suspension of the platform's operations last week.
    Future Prospects of Crypto in Russian Oil Trade
    While the political landscape may shift, with former U.S. President Donald Trump expressing interest in rekindling relations with Russia to help end the war in Ukraine, the fate of economic sanctions remains uncertain. While reports have suggested that the White House is contemplating options to ease sanctions, Trump indicated on March 7 that he is seriously considering additional financial restrictions against Russia.
    Regardless of potential policy changes, insiders believe that cryptocurrencies will likely continue to play a pivotal role in Russian oil transactions. The speed, confidentiality, and efficiency associated with digital transactions make them an appealing long-term solution for maneuvering around financial barriers.
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    Trezor Devices Under Scrutiny: Ledger Exposes Supply Chain Vulnerabilities

    In a recent security assessment, Ledger has identified persisting vulnerabilities within Trezor’s Safe 3 and Safe 5 hardware wallets, specifically tied to supply chain attacks. While Trezor maintains that user funds are secure, apprehensions regarding unpatched vulnerabilities and firmware integrity continue to linger.
    Ledger's comprehensive security report scrutinizes the latest iterations of Trezor's wallets, uncovering notable security enhancements compared to earlier models. However, even with these advancements, Ledger cautions that the new devices are still exposed to certain supply chain attacks, primarily due to their dependence on a microcontroller for cryptographic tasks.
    Ledger’s Insight on Trezor’s Security Architecture
    Since its founding, Ledger's Donjon has been dedicated to conducting open security evaluations of various hardware wallets, including earlier versions of Trezor like the Trezor One and Trezor T. Previous models were found to be vulnerable to physical seed recovery attacks, largely due to their reliance on generic microcontrollers, which lack the resilience against hardware exploitation, such as voltage glitching.
    The launch of the Trezor Safe 3 in late 2023, followed by the Safe 5 in mid-2024, significantly enhanced Trezor's security posture. These updated models now feature an EAL6+-certified Secure Element paired with a microcontroller.
    Charles Guillemet, CTO of Ledger, stated that this Secure Element is responsible for managing PIN authentication and key storage, making it substantially more challenging for adversaries to extract private keys through standard methods.
     
    Ongoing Vulnerabilities in Trezor Devices
    Despite the technological upgrades, Ledger's research indicates that Trezor devices still harbor certain vulnerabilities. Specifically, all cryptographic operations, such as transaction signing, are executed on a microcontroller that is susceptible to firmware manipulation.
    In cases where an attacker absconds with a device during its manufacturing or transit stages (i.e., a supply chain attack), they might alter the software running on the microcontroller, thereby compromising the device even before it reaches the consumer.
    Ledger’s report details that this type of attack could facilitate the remote theft of a user's assets without their awareness, even if they believe their hardware wallet to be secure.
    Supply Chain Attack Threats and Their Consequences
    A principal concern in Ledger's findings is the hazards posed by supply chain attacks. The method of verifying firmware integrity in the Trezor Safe 3 and Safe 5 models exhibits significant flaws. While the Secure Element in these wallets ensures robust PIN protection, it does not verify the authenticity of the firmware operating on the microcontroller.
    Ledger's analysis revealed that the TRZ32F429 microcontroller (a customized STM32F429 chip) used in Trezor Safe devices is vulnerable to voltage glitching. This sophistication allows adept attackers to read and modify the firmware stored within the device's flash memory.
    Given that Trezor relies on a pre-shared secret between the Secure Element and the microcontroller for authenticity verification, an adversary could leverage a glitching attack to extract this secret, subsequently reprogramming the device to seem genuine to unsuspecting users.
    Thus, if a supply chain infiltration occurs during the manufacturing or distribution phases, attackers may inject malicious firmware that operates seamlessly, yet discreetly compromises user keys or alters transaction information. Unlike direct physical assaults, which necessitate an attacker physically handling the wallet, a supply chain breach could lead to widespread compromise before devices reach consumers.
    Trezor's Assurance regarding User Funds
    In light of Ledger's revelations, users have expressed concerns regarding the safety of their funds. Responding to inquiries on X, the Trezor team reiterated that assets remain secure and that the vulnerability discovered pertains to a known exploit.
    Nonetheless, questions persist as to why this acknowledged issue remains unpatched. Compounding these concerns, a January 2024 report indicated a security breach that exposed the personal information of nearly 66,000 Trezor users. To date, the Trezor team has not made an official statement regarding the report, leaving users eager for updates on potential solutions or patches.
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    Crypto.com Ambitious Move To "Unburn" 70 Billion CRO: What You Should Know

    Crypto.com is stirring up the community with its controversial proposal to “unburn” 70 billion CRO tokens that were removed from circulation back in 2021. However, the plan is facing significant resistance from CRO holders, raising concerns about a potential drop in token prices.
    The cryptocurrency world is no stranger to heated debates sparked by bold proposals, reminiscent of the divides seen with Bitcoin and Bitcoin Cash. While the evolution of technology has lessened the risk of hard forks, disagreements still persist. This week, Crypto.com finds itself in the spotlight as it suggests a radical plan to reinstate 70 billion CRO, previously burned, back into circulation.
    During what has been dubbed the “Golden Age” of CRO, its value skyrocketed by over 500%, reaching nearly $1. Recently, however, the token has been in decline as competition grows and investors chase after the next promising meme coin on platforms like Solana.
    Crypto.com’s “Unburning” Strategy
    In February 2021, Crypto.com took a significant step by burning 70 billion CRO tokens, which reduced the total supply from 100 billion to just 30 billion. This move was ahead of similar supply reduction strategies implemented by Ethereum, BNB Chain, and Tron, all working to decrease their circulating supplies over time.
    The rationale behind this action was to foster scarcity, mirroring the economic model of Bitcoin. With fewer CRO tokens available and steady demand, prices surged from approximately $0.06 to over $0.95 by November 2021. This spike coincided with extensive marketing campaigns, including Crypto.com securing naming rights to a prominent stadium, and was further bolstered by the DeFi boom that saw CRO's market capitalization rise above $24 billion. Unfortunately, the downturn in crypto prices and the waning of DeFi enthusiasm caused CRO to crash in 2022.
    To address this decline and explore new opportunities for growth, Crypto.com introduced the SIMD-0036 proposal on March 3, 2025. This plan aims to “reverse” the decision made in 2021, by creating a “Cronos Strategic Reserve” that will allow 70 billion CRO to be reissued over the next ten years, effectively restoring the original supply.
    Tokens will be distributed gradually, mainly rewarding validators who secure and confirm transactions on the mainnet. Additionally, there is a proposal for a $5 billion fund to support AI development, stimulate ecosystem growth, and pursue spot CRO ETFs.
     
     
    Community Response and Concerns Over CRO Pricing
    While Crypto.com defends its proposal as a tactical reallocation rather than a new issuance of tokens, the community is not on board, leading to notable pushback. Early data from Mintscan indicates that nearly 60% of CRO holders may support SIMD-0036, with voting open until March 17. If these trends remain consistent, the proposal stands a good chance of passing.
    However, many users on social media are labeling the initiative as “dodgy,” arguing that it undermines the scarcity that previously propelled CRO’s price to $1 in 2021. The unrest among the community is reflected in CRO’s fluctuating value.
    Following a brief increase to $0.10 on March 3, driven by President Donald Trump’s announcement regarding crypto reserves, CRO has since dropped back down. Currently, it’s trading at approximately $0.072, and if this trend persists, the token could potentially dip below $0.068, hitting multi-year lows as part of a bearish trend.
     

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    At present, bearish sentiment has erased the gains made in Q4 of 2024, pushing prices to their lowest points in 2025. If resistance is encountered on March 17, it might stabilize CRO and possibly lead to a rebound toward February highs. Conversely, if the proposal goes ahead, it could trigger a significant sell-off as holders react to fears of dilution.
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    Crypto.com Unveils Ambitious Roadmap: Launching CRO ETF & New Stablecoin

    Crypto.com has announced exciting plans to roll out an exchange-traded fund (ETF) focusing on its native token, Cronos (CRO), while simultaneously looking to introduce its very own stablecoin.
    In its strategic blueprint for 2025, Crypto.com has prioritized the creation of the Cronos ETF for this year, with expectations to launch the stablecoin by the third quarter. The CRO token is projected to debut in the fourth quarter.
    While detailed information regarding the ETF is still limited, a regulated Cronos ETF could significantly enhance the credibility of the CRO token, allowing investors to engage with it without the need to hold the asset directly.
    As part of its growth strategy, Crypto.com is poised to broaden its offerings considerably. In the first quarter, the platform plans to start listing stocks, stock options, and ETFs.
    Furthermore, the company is set to unveil innovative banking features, including personal multicurrency accounts and cash savings accounts.
    Although specific details about the forthcoming stablecoin remain under wraps, a representative from Crypto.com emphasized that this initiative aligns with a larger goal to “[enhance] all aspects of user experience,” which includes providing “the most extensive range of financial investment services.”
    “We have already achieved five of the six planned products outlined in our Q1 roadmap, and in addition, we launched our institutional custody services ahead of schedule,” the representative noted.
    In related news, Tether Holdings, a prominent stablecoin issuer, has recently come under scrutiny during the confirmation hearings of Donald Trump's nominee for the Commerce Department. Tether has reported record profits of $13 billion, positioning it to rival leading Wall Street investment banks.
    With last year's profits hitting $13 billion on sales of $53.5 billion, Tether’s financial potential could rival that of major firms like Goldman Sachs Group, which reported a net income of $14.3 billion in 2024.
    Additionally, David Sacks, recently appointed as the White House AI and cryptocurrency advisor, stated that a well-regulated stablecoin market could lead to a surge in demand for the U.S. dollar, potentially lowering long-term interest rates by reinforcing its standing in the realm of digital finance.
    "This sector has already begun to thrive, primarily offshore. Our aim is to bring that innovation onshore and implement legislation to facilitate the issuance of stablecoins in the United States," Sacks explained.
    "The influence of stablecoins could amplify the dollar's international dominance, extend its digital presence, and generate potentially trillions of dollars in new demand for U.S. Treasuries. This would not only support our national debt but also assist in reducing long-term interest rates."
    Recently, Crypto.com secured a comprehensive Markets in Crypto Assets (MiCA) license to operate within the European Union. This accreditation enables Crypto.com to provide its wide-ranging crypto services across the European Economic Area (EEA) under a reinforced regulatory framework, thereby enhancing transparency in the sector.
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    Montana Man Convicted In $2.5 Million Cryptocurrency Laundering Scheme

    In light of increasing digital scams, the conviction of a Montana resident shines a light on the darker aspects of cryptocurrency. This case emphasizes the tension between the promise of decentralized finance and the critical need for better regulatory frameworks.
    Key Insights:
    A Montana man was found guilty of orchestrating the laundering of illicit funds through digital currencies tied to romance and other scams. This ruling showcases the growing capabilities of law enforcement while also revealing ongoing difficulties in tracking cryptocurrency-related fraud. The situation raises crucial questions about maintaining the decentralized nature of crypto while requiring greater transparency. Randall Rule, a Montanan, was convicted on February 26, 2025, on charges including conspiracy and money laundering related to fraud schemes that siphoned nearly $2.5 million from victims, according to a press release from the U.S. Attorney's Office dated February 27.
    Rule was indicted alongside Gregory Nysewander from South Carolina in November 2022 and was found guilty by U.S. Judge Jeremy D. Kernodle. The verdict came just three days after the jury began its deliberations on Rule’s role in the elaborate scam.
    “We will not remain passive while our citizens fall prey to financial crimes and have their life savings robbed,” stated Acting U.S. Attorney McGlothin. “We will actively pursue cases against those who perpetrate scams and those who facilitate them through laundering criminal proceeds.”
    Randall Rule’s Involvement in Crypto Money Laundering
    The indictment alleges that Rule and Nysewander collaborated with several unnamed associates to launder money derived from wire and mail fraud schemes using digital assets.
    “The defendants transformed funds from romance scams, business email compromises, real estate scams, and other fraudulent activities into cryptocurrencies, subsequently transferring the cryptocurrencies to accounts controlled by both foreign and domestic accomplices,” the press release highlighted.
    To obscure the origins of the illicit funds, Rule, Nysewander, and their unidentified partners instructed victims and their accomplices to label wire transfers as “advertising” or “loan repayments.”
    “The defendants also made false claims and concealed significant information while completing account opening documents and when communicating with financial institutions and cryptocurrency exchanges,” the U.S. Attorney’s Office added.
    Both defendants faced multiple charges, including conspiracy to commit money laundering, money laundering itself, and conspiring to violate the Bank Secrecy Act (BSA). Rule could face a maximum of 20 years in prison for each money laundering charge, along with up to five years for the conspiracy charge related to the BSA.
    Justice Achieved, Yet Challenges Remain
    The conviction of Randall Rule delivers justice to victims of these scams but does not signify the end of cryptocurrency-related financial misconduct.
    This ruling highlights both the successes and constraints of law enforcement in tackling the increasingly intricate digital fraud landscape. The crypto sector must find a way to balance dreams of decentralization with the urgent need for clearer accountability.
    Investors and policymakers are left with a fundamental question: How can transparency coexist with the ideals of privacy and freedom that cryptocurrencies promote? Resolving this dilemma will determine the trajectory of the industry.
    Frequently Asked Questions (FAQs)
    How might this case influence future cryptocurrency regulations?
    This case could prompt regulators to enhance oversight of cryptocurrency, leading to stricter rules on asset transparency and secure transfer protocols. This change aims to harmonize innovation with effective risk management.
    How are law enforcement agencies responding to the challenges posed by crypto fraud?
    Agencies are improving their technological capabilities, building international partnerships, and refining digital tracing methodologies. Their evolving approaches reflect a growing commitment to combat complex cryptocurrency scams.
    What should investors keep in mind when dealing with digital assets in light of these fraud cases?
    Investors should prioritize security by thoroughly evaluating platform credibility, understanding the volatility of cryptocurrencies, and staying informed about regulatory changes. Diligence and careful analysis remain essential in an ever-shifting market.
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    Trump's Vision for a U.S. Crypto Reserve Featuring XRP, SOL, & ADA

    In a recent post on Truth Social, former U.S. President Donald Trump articulated his ambition to position the United States as a frontrunner in the digital asset arena. He highlighted the establishment of a proposed Crypto Strategic Reserve that would incorporate prominent cryptocurrencies such as XRP, Solana (SOL), and Cardano (ADA).
    Trump emphasized that a U.S. Crypto Reserve would strengthen this vital sector after facing numerous attacks from the current administration, stating, "My Executive Order on Digital Assets directed the Presidential Working Group to advance a Crypto Strategic Reserve inclusive of XRP, SOL, and ADA. I will ensure the U.S. becomes the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!"
    In a subsequent statement, he affirmed, "Of course, BTC and ETH, as other significant cryptocurrencies, will also play a central role in the Reserve. I have a great appreciation for Bitcoin and Ethereum!"
     

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    Truth Social and Trump's Stance on Cryptocurrency
    Truth Social, which serves as Trump's main platform for communication, has become an essential tool for relaying his policy views. Launched by Trump Media & Technology Group, the platform aims to provide an alternative to what Trump perceives as censorship from major tech companies. It has garnered a substantial following, particularly among his supporters.
    Over time, Trump's perspective on cryptocurrency has shifted positively. Recently, he has adopted a more supportive stance, aligning himself more closely with the digital asset ecosystem. His latest comments indicate a strategic integration of cryptocurrencies into his pro-business platform as he approaches the 2024 election cycle.
    By advocating for a U.S. Crypto Reserve, Trump underscores his endorsement of digital assets as a crucial component of national economic strategy. His decision to include XRP, SOL, and ADA—together with Bitcoin and Ethereum—marks a significant move toward wider crypto adoption, potentially influencing regulatory frameworks that encourage innovation and investment in the sector.
    Donald Trump Jr. and the DeFi Revolution at ETHDenver
    In related news, Donald Trump Jr. participated in a virtual appearance at DeFi World on Wednesday, sharing insights about World Liberty Finance's vision and mission.
    During his address, he illustrated a future where decentralized finance (DeFi) merges seamlessly with traditional finance (TradFi), fostering a unified system that democratizes accessibility to liquidity for everyone.
    If you’re considering investing in Bitcoin and other cryptocurrencies, be sure to check out our review of #Best Wallet#—a leading option that requires no KYC (Know Your Customer) verification.
    By providing a clear and comprehensive overview of Trump's recent statements and the shifting landscape in the cryptocurrency arena, this article reflects a significant moment in the intersection of politics and digital finance.
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    Ukraine's Exploration Of A 5-10% Crypto Tax To Strengthen Its Budget

    As Ukraine navigates the complexities of an evolving financial environment, it is considering a new framework for taxing digital assets. This initiative aims to enhance the country’s security and build economic resilience against persistent challenges.
    Summary of Key Points:
    Ukrainian authorities are evaluating a regulated tax approach for digital asset earnings to fund state initiatives. This initiative represents a strategic combination of economic innovation and improved defense financing. The ongoing discussions highlight the difficulties of balancing investor interests with strict regulatory measures. Recent reports indicate that Ukrainian legislators are in the process of drafting a bill that will legalize and impose a 5-10% tax on cryptocurrency gains by mid-2025. The goal is to secure revenue for Ukraine's state budget and military amidst the ongoing conflict with Russia. Although the precise tax rates are still under consideration, officials have reiterated the importance of taxing all income sources, including those derived from cryptocurrencies.
    The initial reading of the proposed bill is anticipated by the end of March 2025, with the prospect of it becoming law by the summer of the same year.
    Tax Rate Proposals Spark Debate
    In an exclusive live interview on February 26 with the local news organization Novosti.LIVE, Taras Kozak, president of the investment group “UNIVER” and a member of the Kyiv City Council, shed light on Ukraine’s objectives to legitimize and regulate the cryptocurrency market. The question of taxation has spurred diverse opinions among investors and cryptocurrency-dependent businesses. While many are willing to contribute to the national budget, the final tax rate remains a major point of contention.
    Kozak mentioned that there is a growing consensus around a 5% tax rate that numerous Ukrainians may be willing to accept. He further proposed that the tax should stay modest, falling between 5% and 10%, as the resulting revenue is crucial for state operations, bolstering national security, and funding military efforts. Nonetheless, the government is also weighing a more conventional taxation framework, where individuals typically face an 18% income tax coupled with a 5% military levy. This situation could potentially result in investors paying a steep total of 23% if cryptocurrency income were taxed according to the existing scheme.
    Legislative Timeline and Key Challenges
    Danylo Hetmantsev, chair of the Verkhovna Rada’s Committee on Finance, Tax, and Customs Policy, previously indicated that Ukraine aims to establish cryptocurrency legality by mid-2025. He stated that the main text of the crypto tax bill has already been concluded, but significant discussions are still in progress regarding how regulators and law enforcement will monitor financial activities related to cryptocurrency income.
    Lawmakers must finalize these taxation measures prior to the formal submission of the crypto bill for approval.
     
     
     
    Hetmantsev expects that the initial reading of the bill will occur by the end of March 2025, with the final version potentially being signed into law by summer. Kozak, however, expressed skepticism about this optimistic timeline, predicting that the legislative process may extend into 2026. He believes that while the crypto bill might be signed by the end of 2025, full legalization and implementation of the tax are more likely to take effect in the subsequent year.
    Uncertainty Surrounding Tax Compliance and Regulatory Oversight
    A major concern is the ambiguity surrounding the transition for existing crypto investors. Many individuals who had acquired digital assets before the new law is enacted may find it challenging to substantiate their initial investments, thus complicating the determination of their tax obligations.
    In addition to compliance challenges, the question of regulatory authority remains unresolved. Hetmantsev indicated that the National Securities and Stock Market Commission is expected to oversee crypto taxation. However, there are apprehensions about whether this body possesses the capacity to effectively manage the cryptocurrency sector.
    The Need for Increased Military and National Security Funding
    Given the prolonged conflict with Russia, Ukraine is advocating for greater funding for military and national security efforts. The war has resulted in significant losses to infrastructure, human lives, and economic stability. While international aid has played a vital role, Ukraine is also investigating internal revenue sources to secure fiscal independence for its war initiatives.
    The proposed crypto tax seeks to capitalize on revenue generated from cryptocurrency transactions and investments as one such solution.
    The Role of Cryptocurrency in Ongoing Conflict Funding
    The significance of cryptocurrency in the context of war funding has become increasingly apparent. Recently, Russian authorities detained an individual connected to a diamond mining firm for allegedly channeling funds through cryptocurrency to Ukrainian militant groups. Throughout the conflict, Ukraine has received crypto donations from global supporters to bolster its military and humanitarian efforts. However, this has drawn scrutiny from Russian officials.
    Complicating matters further are the shifting dynamics of international politics. With the change in U.S. leadership from President Joe Biden, who previously allocated substantial military aid, to Donald Trump—who has expressed skepticism regarding unlimited U.S. financial support—Ukraine’s financial strategies are facing increased uncertainty. Recent interactions between Trump and Russian officials have raised concerns in Kyiv, particularly as Ukrainian President Volodymyr Zelensky was not part of those talks.
    As Ukraine continues to grapple with financial pressures amid an ongoing conflict and shifting geopolitical alliances, critical questions arise: Can internal revenue mechanisms, such as a crypto tax, realistically sustain military funding over the long term? And how might divergent global opinions—exemplified by public figures like Elon Musk criticizing prolonged conflict—impact Ukraine’s economic and strategic decisions moving forward?
    Frequently Asked Questions (FAQs)
    How might Ukraine’s new crypto tax influence investor sentiment and innovation?
    A well-calibrated tax could enhance clarity and trust within the digital market, directing funds toward defense while promoting fair practices. Nevertheless, overly stringent limits could stifle innovation in the crypto sector.
    What obstacles might regulators face in implementing Ukraine’s crypto tax framework?
    A sophisticated regulatory strategy will be critical in balancing the interests of investors with fiscal accountability. Officials must ensure adequate oversight while keeping pace with rapid changes in the market without hindering growth.
    How does the proposed crypto tax fit into broader fiscal strategies amid geopolitical tensions?
    A thoughtfully designed digital asset tax aligns with Ukraine’s efforts to merge contemporary fiscal approaches with national security priorities. By stabilizing revenue streams, the initiative aims to support both defense and economic resilience.
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    Bybit Exchange Breached: Over $1.4 Billion in Cryptocurrency Stolen

    On February 21, a significant hack targeted the Bybit cryptocurrency exchange, resulting in the theft of over $1.4 billion from an ETH cold wallet. The stolen assets included liquid-staked Ether (STETH), valued at $2,649.95, alongside Mantle Staked ETH (mETH) and various other ERC-20 tokens. This alarming breach was first identified by on-chain security analyst ZachXBT, who detected the incident shortly after it took place.
    Following this exploit, ZachXBT advised users to blacklist any addresses linked to the hack. Ben Zhou, the co-founder and CEO of Bybit, confirmed the breach and provided insight into the security implications.

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    Zhou revealed that approximately one hour prior to the hack, a transfer was made from the exchange’s multisignature wallet to a warm wallet. He explained that the transaction was cleverly disguised to appear legitimate; however, it contained malicious code intended to modify the smart contract logic of the wallet, allowing funds to be siphoned away. In a reassuring statement, Zhou emphasized:
    “Rest assured that all other cold wallets are secure. All withdrawals are functioning as usual. I will keep everyone updated as new information arises. We would be grateful for any assistance in tracking down the stolen funds.”
    This incident is part of a troubling trend of significant hacks and breaches that have impacted crypto exchanges throughout 2024 and into early 2025.
     
     

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    Zhou later stated, “Bybit remains solvent even if the losses from this hack can’t be recovered; all client assets are backed 1:1, so we can absorb the loss.” In an additional communication on X, the exchange reassured customers, stating that their cold wallets “are fully secure” and confirmed that “all client funds are safe, with operations continuing normally without any interruption.”
    Following the revelation of the hack, the value of Ether (ETH) fell by more than 3%, as this breach ranks among the most significant incidents in recent cryptocurrency history, stirring concerns throughout the market.
    Rising Security Breaches and Scams in February 2025
    The cryptocurrency landscape has seen a surge in hacking incidents and scam-related activities in the initial weeks of February 2025.
    On February 14, ZkLend, a money-market protocol based on Starknet, was exploited, resulting in the loss of $9.5 million. According to the cybersecurity firm Cyvers, the attacker bridged these stolen assets to Ethereum and utilized the Railgun protocol in an attempt to launder the funds; however, Railgun managed to revert the stolen assets back.
    On February 5, both Jupiter, a decentralized exchange on Solana, and former Malaysian Prime Minister Mahathir Mohamad experienced social media hacks. In these cases, the perpetrators leveraged the compromised accounts to promote fraudulent memecoins.
    Shaw Walters, the founder of Eliza Labs, also reported being a victim of a recent social media hack, where the hacker gained control of Walters’ X account and began disseminating scam links. Walters mentioned that the hack transpired despite having two-factor authentication enabled on his account.
    This wave of security breaches emphasizes the urgent need for enhanced protective measures within the cryptocurrency industry. Users are encouraged to remain vigilant and prioritize security protocols, as these incidents continue to pose significant risks to their assets.
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