SEC has officially closed its investigation into Crypto.com, CEO says
The US Securities and Exchange Commission (SEC) has officially closed its investigation into Crypto.com, a popular cryptocurrency exchange, with no action taken against the company. This news was announced by the firm’s CEO, Kris Marszalek, who stated that the investigation had been ongoing for seven months before being closed.
Back in August, the SEC had issued a Wells notice to Crypto.com, indicating its intention to take legal action against the platform. This caused concern and uncertainty within the crypto community, as the SEC has been known to take a strict stance on cryptocurrency regulation.
Marszalek expressed his frustration with the investigation, stating that the SEC had used every tool at their disposal to try and hinder the growth of Crypto.com. This included restricting access to banking, auditors, and investors, in what he believes was an attempt to shut down the entire industry.
However, despite these challenges, Crypto.com persevered and even filed a lawsuit against the SEC in October. The lawsuit accused the commission of overstepping its authority and taking a misguided approach to regulating the crypto industry.
The fact that Crypto.com not only survived but also became stronger is a testament to the company’s vision and the support of its community. Marszalek shared this sentiment in a post on X, a social media platform, where he also announced the closure of the SEC investigation.
The news of the investigation being closed with no action taken against Crypto.com has been met with relief and celebration within the crypto community. Many see this as a win for the industry and a step towards more favorable regulation in the future.
This is a developing story, and more information will be added as it becomes available. In the meantime, Crypto.com continues to thrive and provide its users with a secure and reliable platform for trading and investing in cryptocurrencies.
If you want to stay updated on the latest news and developments in the crypto industry, be sure to subscribe to Crypto Biz Newsletter, a subscription service offered by Crypto.com. This will ensure that you never miss out on important updates and insights from the world of cryptocurrency.
Getting crypto out of the 'AOL era' — Sandeep Nailwal
The current state of crypto is akin to the internet’s “America Online” (AOL) era during the late 1990s, when the user experience was clunky, technical, featured limited use cases, and moved at dial-up speeds, according to Polygon co-founder Sandeep Nailwal.In an interview with Cointelegraph, Nailwal identified several key areas of development to improve user experience, including seamless fiat on- and off-ramps, custody solutions that feature key recovery, and hardware wallets built into mobile devices.”We are in the dial-up era of the internet where even connecting to the Internet was a tedious task, like you had to be a mini-engineer to be able to connect to the Internet — we are still there in crypto.” —Sandeep Nailwal“We are probably still in 1998, and it is going to take at least 10 to 15 years to see crypto in its full glory,” the Polygon founder added.While considered revolutionary at the time, the AOL days of the internet featured limited functionality and a high barrier to entry. Source: PC MagazineThe internet took between 30-40 years to achieve mass adoption and began with a limited number of use cases. In the late 1990s, the AOL era of the internet was primarily focused on email and basic web browsing, but today, the internet encompasses the entire economy.Nailwal said that the current state of crypto is similar, with financial use cases, particularly market speculation, being the core focus of crypto at this time.However, once the financial use cases have been fully developed and achieved sufficient adoption, crypto adoption will spread to alternative use cases such as decentralized social media, gaming, and other niche sectors, he said.Related: Security concerns slow crypto payment adoption worldwide — SurveyBeing in crypto today is being early to the partyNailwal pointed out that even the base use case for cryptocurrencies, which is financial, has not been fully developed.According to a February 2025 report from Bitcoin (BTC) financial services company River, only 4% of individuals worldwide own BTC — which is the original cryptocurrency with the largest market cap and has the most mainstream appeal.Bitcoin’s adoption path. Source: RiverThe report found that BTC has only achieved about 3% of its total adoption path when institutions, the total addressable market, and proper portfolio allocations are considered.This small number of BTC holders indicates that crypto mass adoption is still years away and signals that the entire industry is still in the early adopter phase of development.Magazine: They solved crypto’s janky UX problem — you just haven’t noticed yet
US DOJ says it seized Hamas crypto meant to finance terrorism
The US Justice Department (DOJ) has made a major breakthrough in disrupting terrorist financing through cryptocurrency. In a statement released on March 27, the DOJ announced that it had seized over $200,000 in cryptocurrency intended to benefit the militant group Hamas.
According to the DOJ, the seized funds were traced to fundraising addresses allegedly controlled by Hamas and used to launder more than $1.5 million in digital assets since October 2024. This laundering was carried out through a series of virtual currency exchanges and transactions, involving suspected financiers and over-the-counter brokers. The funds are currently being held in at least 17 wallets.
This is not the first time that the US government has taken action against Hamas-linked cryptocurrency activities. In January 2024, the US Treasury’s Office of Foreign Assets Control, along with corresponding organizations in the United Kingdom and Australia, announced sanctions against networks and facilitators of crypto transactions linked to Hamas. These sanctions were built upon previous US Treasury sanctions from October 2023.
In a separate incident, three families of victims of a Hamas attack against Israel filed a lawsuit against Binance and its former CEO Changpeng Zhao, alleging that the exchange had provided “substantial assistance” to terrorists. However, in oral arguments, a lawyer representing Binance claimed that the exchange had no special relationship with Hamas.
Binance has also faced scrutiny from the US government over alleged shortcomings in its Anti-Money Laundering controls. In November 2023, the exchange settled with the DOJ for $4.3 billion.
The use of cryptocurrency by terrorist organizations for fundraising has become a growing concern for the US government. Some officials have even questioned whether the industry needs more supervision or regulation to prevent such activities.
However, a report by the Congressional Research Service in December 2024 stated that the scale and effectiveness of Hamas’ cryptocurrency fundraising efforts have been unclear. Additionally, a 2023 report by Chainalysis revealed that terrorism financing accounts for a very small amount of crypto usage, with illegal groups primarily using traditional, fiat-based methods to fund their operations.
In conclusion, while the use of cryptocurrency by terrorist organizations is a cause for concern, it is important to note that it is not a widespread issue. The US government and other regulatory bodies will continue to monitor and take action against any illegal activities involving cryptocurrency.
Solana price struggles to flip $150 to support — Is the SOL bull market over?
Solana’s native token, SOL (SOL), faced a sharp 8% rejection after briefly touching $147 on March 25. For the past three weeks, SOL has struggled to reclaim the $150 level, which is leading traders to question whether the bullish momentum that was originally driven by memecoin speculation and the rise of artificial intelligence sectors has come to an end.Some analysts argue that SOL price could significantly benefit from the eventual approval of a Solana spot exchange-traded fund (ETF) in the United States, as well as the expansion of tokenized real-world assets (RWA) on the Solana network, including stablecoins and money market funds. Others, like Nikita Bier, co-founder of TBH and Gas startups, believe Solana has “the fundamental building blocks for something to break out on mobile.”Source: nikitabierBier highlighted the constructive regulatory environment from US President Donald Trump and the long-term impact of the memecoin frenzy, which introduced “millions” of new users to Web3 wallets and decentralized applications (DApps). Essentially, Nikita Bier believes Solana is well-positioned due to its streamlined onboarding experience for mobile users.The lackluster Bitcoin reserve announcement hurt all cryptocurrenciesDespite the potential for establishing a “consumer-grade” marketplace for DApps, most traders suffered losses as the memecoin mania faded and onchain volumes plunged. This decline has led investors to question whether SOL has the strength to reclaim levels above $150. Beyond the waning interest in DApps, Solana is also facing growing competition from other blockchains.Additionally, the realization that the US government would not purchase altcoins for its strategic reserve and digital asset stockpile was a major disappointment for some investors. On March 6, President Trump signed a bill allowing budget-neutral strategies for the US Treasury to acquire Bitcoin (BTC), while altcoins in government possession could be strategically sold. In fact, there was no explicit mention of Solana or any other altcoin in the Digital Asset Stockpile executive order.Some may argue that the Solana ecosystem extends far beyond memecoin trading and token launchpads, as total value locked (TVL) has grown across liquid staking, collateralized lending, synthetic assets, and yield platforms. However, Solana’s fees and DApp revenues have continued to decline. Reduced onchain activity reduces SOL’s appeal to investors, thus limiting its upside potential.Solana 7-day DApp revenues (left) and chain fees (right), USD. Source: DefiLlamaSolana DApp revenues totaled $12 million in the seven days leading up to March 24, down from $23.7 million just two weeks earlier. Similarly, base layer fees reached $3.6 million in the same period, a sharp drop from $6.6 million in the seven days ending March 10. Interestingly, this decline occurred while the total value locked (TVL) remained stable at 53.2 million SOL.Related: Specialized purpose DEXs poised for growth in 2025 — Curve founderSolana is no longer the dominant network in DEX volumesThe drop in Solana’s onchain activity is particularly concerning given that BNB Chain surged to the top spot in DEX volumes, despite having 34% less TVL than Solana, according to DefiLlama data.Decentralized exchanges volume market share. Source: DefiLlamaIn terms of volume, Solana dominated the DEX industry from October 2024 to February 2025 but has recently lost ground to Ethereum and BNB Chain. As a result, part of SOL’s price weakness stems from a decline in Solana’s onchain activity compared to its competitors. For instance, trading volume on Hyperliquid increased by 35% over the past seven days, while activity on Pendle surged by an impressive 186%.Although fundamentals do not indicate an imminent rally above $150, the Solana network uniquely combines an integrated user experience with a degree of decentralization that has proven successful. For example, while BNB Chain and Tron offer similar scalability, neither has had a wallet or DApp rank among the top 10 on the Apple App Store—unlike Solana’s Phantom Wallet in November 2024.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Sei Foundation floats 23andMe acquisition, genetic data on the blockchain
The foundation behind the layer-1 blockchain, Sei, announced it was exploring the acquisition of the genetic testing company 23andMe after the firm filed for bankruptcy.In a March 27 X post, the Sei network said its foundation was considering purchasing 23andMe “to defend the genetic privacy of 15 million Americans” by putting the company’s data on the blockchain. According to the foundation, if it acquires the biotechnology company, it plans to deploy all the genetic information on the blockchain and “return data ownership to users through encrypted, confidential transfers.” March 27 X announcing a potential acquisition of 23andMe. Source: Sei Network“We believe user data sovereignty is a matter of national security,” the Sei network’s announcement reads. “When an American biotech pioneer faces bankruptcy, personal genomic data of millions becomes vulnerable to parties that may not share the same values of transparency and open access.”The announcement came four days after 23andMe said it filed for Chapter 11 protection in the US Bankruptcy Court for the Eastern District of Missouri. The company said at the time there would be “no changes to the way [it] stores, manages, or protects customer data,” which reportedly includes genetic information from roughly 15 million people globally.Related: Stop giving your DNA data away for free to 23andMe, says Genomes.io CEOThe 23andMe bankruptcy has, for many, reignited concerns about data privacy in an age in which companies have caches of genetic information from millions of people. After the bankruptcy announcement, New York State Attorney General Letitia James and California Attorney General Rob Bonta urged 23andMe users to contact the company to delete their personal data, saying they had a right to privacy and to request any DNA samples be destroyed. The two authorities said state laws gave 23andMe users control of their own data. The price of the network’s Sei (SEI) token briefly rose from $0.209 to $0.215 after the network’s X post — a roughly 3% increase.Magazine: Longevity expert: AI will help us become ‘biologically immortal’ from 2030
$16.5B in Bitcoin options expire on Friday — Will BTC price soar above $90K?
Bitcoin (BTC) investors are preparing for the record-breaking $16.5 billion monthly options expiry on March 28. However, the actual market impact is expected to be more limited, as BTC’s drop below $90,000 caught investors off guard and invalidated many bullish positions. This shift gives Bitcoin bears a crucial opportunity to escape a potential $3 billion loss, a factor that could significantly influence market dynamics in the coming weeks.Bitcoin options open interest for March 28, USD. Source: Laevitas.chCurrently, the total open interest for call (buy) options stands at $10.5 billion, while put (sell) options lag at $6 billion. However, $7.6 billion of these calls are set at $92,000 or higher, meaning Bitcoin would need a 6.4% gain from its current price to make them viable by the March 28 expiry. As a result, the advantage for bullish bets has significantly weakened.Bitcoin bulls pray for a “decoupling” if QE restarts Some analysts attribute Bitcoin’s weak performance to the ongoing global tariff war and US government spending cuts, which increase the risk of an economic recession. Traders worry about slower growth, particularly in the artificial intelligence sector, which had driven the S&P 500 to a record high on Feb. 19 before falling 7%.S&P 500 futures (left) vs. Bitcoin/USD (right). Source: TradingView / CointelegraphMeanwhile, Bitcoin bulls remain hopeful for a decoupling from the stock market, despite the 40-day correlation staying above 70% since early March. Their optimism stems from the expansion of the monetary base by central banks and increased Bitcoin adoption by companies such as GameStop (GME), Rumble (RUM), Metaplanet (TYO:3350), and Semler Scientific (SMLR).As the options expiry date nears, bulls and bears each have a strong incentive to influence Bitcoin’s spot price. However, while bullish investors aim for levels above $92,000, their optimism alone is not enough to ensure BTC surpasses this mark. Deribit leads the options market with a 74% share, followed by the Chicago Mercantile Exchange (CME) at 8.5% and Binance at 8%.Given the current market dynamics, Bitcoin bulls hold a strategic advantage heading into the monthly options expiry. For instance, if Bitcoin remains at $86,500 by 8:00 am UTC on March 28, only $2 billion worth of put (sell) options will be in play. This situation incentivizes bears to drive Bitcoin below $84,000, which would increase the value of active put options to $2.6 billion.Related: Would GameStop buying Bitcoin help BTC price hit $200K?Bitcoin bulls will have the edge if BTC price passes $90,000Below are five probable scenarios based on current price trends. These outcomes estimate theoretical profits based on open interest imbalances but exclude complex strategies, such as selling put options to gain upside price exposure.Between $81,000 and $85,000: $2.7 billion in calls (buy) vs. $2.6 billion in puts (sell). The net result favors the call instruments by $100 million.Between $85,000 and $88,000: $3.3 billion calls vs. $2 billion puts, favoring calls by $1.3 billion.Between $88,000 and $90,000: $3.4 billion calls vs. $1.8 billion puts. favoring calls by $1.6 billion.Between $90,000 and $92,000: $4.4 billion calls vs. $1.4 billion puts, favoring calls by $3 billion.To minimize losses, bears must push Bitcoin below $84,000—a 3% drop—before the March 28 expiry. This move would increase the value of put (sell) options, strengthening their position. Conversely, bulls can maximize their gains by driving BTC above $90,000, which could create enough momentum to establish a bullish trend for April, especially if inflows into spot Bitcoin exchange-traded funds (ETFs) resume at a strong pace.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
3 reasons why Bitcoin price can’t take out the $90K resistance level
Since reaching a weekly high of $88,752 on March 24, Bitcoin (BTC) price has formed a series of lower highs and lower lows in the 1-hour time frame chart. As the end of the week approaches, Bitcoin price has failed to break above the $88,000 resistance, reducing the chance for a $90,000 retest before the end of Q1. Bitcoin 1-hour chart. Source: Cointelegraph/TradingViewWhat is keeping Bitcoin under $90K?One major reason for Bitcoin’s current price struggles is constant sell-side pressure from short-term holders (STHs) or investors holding coins for less than 155 days. Glassnode’s “The Week On-chain” newsletter noted that the current Bitcoin cycle has witnessed a “top heavy” market where investors who purchased BTC at higher prices hold a significant portion of Bitcoin’s supply. As a result, the STH cohort have become the primary group facing the largest price drawdown since Bitcoin’s 30% correction from its all-time high. In the report, Glassnode analysts said,“Volume of Short-Term Holder supply held in loss surging to a massive 3.4M BTC. This is the largest volume of STH supply in loss since July 2018.”Bitcoin total supply in loss held by STHs. Source: GlassnodeThe selling pressure faced by the short-term holders is reflected in Bitcoin’s accumulation trend score. Bitcoin’s accumulation trend score, a metric that quantifies selling pressure, remained below 0.1 since BTC price dropped from $108,000 to the $93,000-$97,000 range. A score under 0.5 signals distribution (selling) instead of accumulation, and a sub-0.1 value highlights intense selling pressure.Another reason Bitcoin has struggled to break through the $90,000 threshold is due to the contraction of liquidity conditions. Data suggests that onchain transfer volumes have dropped to $5.2 billion daily, a steep 47% decline from the peak during the rally to all-time highs. Similarly, the active address count has also decreased by 18%, dropping from 950,000 in November 2024 to 780,000.At the same time, the open interest (OI) in the BTC futures market dropped 24% from $71.85 billion to $54.65 billion, with the perpetual futures funding rates also cooling down. This deleveraging and liquidity contraction—combined with only 2.5% of the total supply moving in profit during the correction—limits the market’s capacity to rally past $90k since there are insufficient buy orders to absorb sell orders.Related: Bitcoin price prediction markets bet BTC won’t go higher than $138K in 2025New demand for Bitcoin continues to fallGlassnode data also highlighted that the current BTC bull cycle lacks new demand (buyers) entering the market, with the Cost Basis Distribution (CBD) Heatmap showing supply concentration at higher price levels ($100K-$108K) but no significant influx of buyers at lower levels to drive a price recovery. Bitcoin Euphoria Zone, Top Buyer Cost Basis. Source: GlassnodeThe lack of demand factor is compounded by macroeconomic uncertainty, which has discouraged new investors, as seen in the transition to net capital outflows when the 1-week to 1-month STH cost basis fell below the 1-month to 3-month cost basis. However, Glassnode analysts said,“The flip side of these observations is that the Long-Term Holder cohort still retains a substantial portion of the network wealth, holding almost 40% of invested value.”Essentially, these periods of prolonged accumulation can eventually constrict the supply and lead to better conditions for a new wave of demand once a stronger uptrend is established in the market. Related: Would GameStop buying Bitcoin help BTC price hit $200K?This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Senator John Kennedy grills SEC nominee Paul Atkins about SBF pardon
Senator John Kennedy of Louisiana has been making headlines recently for his tough questioning of prospective Securities and Exchange Commission (SEC) chairman Paul Atkins. During the Senate Banking Committee’s March 27 nomination hearing, Kennedy directed a series of questions about former FTX CEO Sam “SBF” Bankman-Fried towards Atkins, probing him about donations made by Bankman-Fried’s family to Stanford University.
Kennedy’s line of questioning was sparked by reports that Bankman-Fried’s parents were seeking a pardon for their son from recently-elected US President Donald Trump. This news, coupled with Bankman-Fried’s high-profile pardon of Silk Road founder Ross Ulbricht, has raised concerns about potential double standards in the American justice system.
Kennedy made it clear that he expects the SEC to take action to prevent any potential pardons on behalf of Bankman-Fried, stating, “There should not be two standards of law and punishment for people in America. And every time you come to this committee, I am going to pounce on you like a ninja to find out what the SEC has done because I don’t think the SEC has done a damn thing.”
However, experts believe that Bankman-Fried is unlikely to secure a pardon for several reasons. Unlike Ulbricht, Bankman-Fried’s actions have resulted in significant financial losses for investors, making his case less sympathetic. Additionally, the public campaign promise made by then-candidate Trump to pardon Ulbricht sets his case apart.
Despite this, Bankman-Fried has attempted to cozy up to Republicans in several interviews with independent media outlets. However, these attempts have backfired, with Bankman-Fried being thrown into solitary confinement and moved to a prison facility in Oklahoma following an unauthorized interview with Tucker Carlson.
The controversy surrounding Bankman-Fried’s potential pardon highlights the ongoing debate about double standards in the American justice system. As the SEC continues to face pressure to take action against Bankman-Fried and his family, it remains to be seen how this situation will unfold.