Pirating pioneer Napster sells for $207M with plans for music metaverse
Artificial intelligence startup Infinite Reality has acquired the music-pirating app turned music streaming service Napster in a $207 million deal and plans to add a music-focused metaverse. Infinite Reality said in a March 25 statement that Napster would offer “branded 3D virtual spaces” to allow virtual concerts and “social listening parties” along with the ability to offer virtual merchandise.“Imagine stepping into a virtual venue to watch an exclusive show with friends, chat with your favorite artist in their own virtual hangout as they drop their new single, and be able to directly buy their exclusive digital and physical merch,” said Napster CEO Jon Vlassopulos, who will continue in his role amid the acquisition.“The internet has evolved from desktop to mobile, from mobile to social, and now we are entering the immersive era,” he added.”The most legendary collab?! Infinite Reality has acquired iconic online music brand @Napster.With this acquisition, we’re expanding and reimagining Napster, empowering artists with new audience monetization and engagement capabilities, underpinned by iR’s #immersive… pic.twitter.com/L4Fig7QFct— Infinite Reality (@Infinite_iR) March 25, 2025Infinite Reality added that it also plans for Napster to allow musicians to use AI customer and community management agents and analytics dashboards to track fan behavior and cross-promotion with its other entertainment properties, such as Esports teams.Napster’s latest repurposingNapster was a pioneer in piracy, launching in 1999 as a peer-to-peer (P2P) filing-sharing service mostly for music. It shuttered in 2001, buried by a court order after a wave of copyright infringement lawsuits.The now-bankrupt company sold its brand, which was relaunched as a music-streaming service before bouncing between owners for the next 20 years. The blockchain firm Algorand and crypto investment firm Hivemind most recently bought it in 2022.Related: Here’s what musicians actually think of tokenizing content in Web3Napster had made several moves in the Web3 space, announcing plans in June 2022 to launch its own Napster token on the Algorand blockchain that could be used to buy music subscriptions and other content. The brand also bought Web3 music startup Mint Songs in February 2023.Source: NapsterJohn Acunto, co-founder and CEO of Infinite Reality, said the team hopes to lead an “internet industry shift from a flat 2D clickable web to a 3D conversational one.” Infinite Reality says the acquisition of Napster is slated to close in a few weeks. According to the firm, it hopes to evolve the Napster brand to become the leading immersive music platform for artists, fans and curators through audience monetization and engagement capabilities.Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge
Bitcoin price has 75% chance of hitting new highs in 2025 — Analyst
Bitcoin network economist Timothy Peterson maintains his optimistic outlook for BTC (BTC), suggesting that there is a 75% chance that the asset will hit new highs in the next nine months. In a March 25 X post, Peterson highlighted BTC’s current position near the lower bound of its historical range. The analyst emphasized that Bitcoin’s current path aligns with the bottom 25% threshold, giving it majority odds for a positive rally. Bitcoin 10-year seasonality chart. Source: X.comPeterson said, “Here is a 50% chance it will gain 50%+ in the short term.”Peterson’s statements follow an earlier study that found that most of Bitcoin’s annual bullish performance occurred in April and October, which have averaged 12.98% and 21.98%, respectively, over the past decade.Bitcoin monthly returns. Source: CoinGlassRelated: Bitcoin flips ‘macro bullish’ amid first Hash Ribbon buy signal in 8 monthsBitcoin onchain cost basis zone key investors’ levelsIn a recent quicktake post on CryptoQuant, anonymous analyst Crazzyblockk said that the realized price for short-term whales is $91,000, whereas most highly active addresses hold a cost basis between $84,000 and $85,000. Bitcoin short-term whales position. Source: CryptoQuantA dip below the cost basis could trigger selling, making the $84,000 to $85,000 range a critical liquidity zone. The analyst added, “These onchain cost basis levels represent decision zones where market psychology shifts. Traders and investors should closely monitor price reactions in these areas to gauge trend strength and potential reversals.”Related: BlackRock launches Bitcoin ETP in EuropeThis 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.
FDIC moves to eradicate 'reputational risk' category from bank exams
The US Federal Deposit Insurance Corporation, an independent agency of the federal government, is reportedly moving to stop using the “reputational risk” category as a way to supervise banks. According to a letter sent by the agency’s acting chairman, Travis Hill, to Rep. Dan Meuser on March 24, banking regulators should not use “reputational risk” to scrutinize firms. “While a bank’s reputation is critically important, most activities that could threaten a bank’s reputation do so through traditional risk channels (e.g., credit risk, market risk, etc.) that supervisors already focus on,” notes the letter, first reported by Politico. According to the document, the FDIC has completed a “review of all mentions of reputational risk” in its regulations and policy documents and has “plans to eradicate this concept from our regulatory approach.”Reputational risk and debankingThe Federal Reserve defines reputational risk as “the potential that negative publicity regarding an institution’s business practices, whether true or not, will cause a decline in the customer base, costly litigation, or revenue reductions.”The FIDC letter specifically mentioned digital assets, with Hill noting that the agency has generally been “closed for business” for institutions interested in blockchain or distributed ledger technology. Now, as per the document, the FDIC is working on a new direction for digital asset policy aiming at providing banks a way to engage with digital assets.The letter was sent in response to a February communication from Meuser and other lawmakers with recommendations for digital asset rules and ways to prevent debanking.Industries deemed as “risky” to banks often face significant challenges in establishing or maintaining banking relationships. The crypto industry faced such challenges during what became known as Operation Chokepoint 2.0. The unofficial Operation led to more than 30 technology and cryptocurrency companies being denied banking services in the US after the collapse of crypto-friendly banks earlier in 2023.Related: FDIC resists transparency on Operation Chokepoint 2.0 — Coinbase CLO
Bitcoin sellers lurk in $88K to $90K zone — Is this week’s BTC rally losing steam?
Many Bitcoin (BTC) traders became bullish this week as prices rallied deep into the $88,000 level, but failure to overcome this level in the short term could be a take-profit signal. Alphractal, a crypto analytics platform, noted that Bitcoin whales have entered short positions at the $88,000 level. In a recent X post, the platform highlighted that the “Whale Position Sentiment” metric exhibited a sharp reversal in the chart, indicating that major players with a bearish bias have stepped. The metric defines the relationship between the aggregated open interest and trades larger than $1 million across multiple exchanges.Bitcoin: Whale position sentiment. Source: XAs illustrated in the chart, the two circled regions are synonymous with Bitcoin price falling to the $88,000 level. Alphractal said, “When the Whale Position Sentiment starts to decline, even if the price temporarily rises, it is a strong signal that whales are entering short positions, which may lead to a price drop.”Alphractal CEO Joao Wedson also confirmed that whales had closed their long positions and that prices have historically moved according to their directional bias. Bitcoin: Bull score signals. Source: CryptoQuantSimilarly, 8 out of 10 onchain signals on CryptoQuant have turned bearish. As highlighted above, with the exception of the stablecoin liquidity and technical signal indicators, all the other metrics flash red, underlining the likelihood of a possible pullback in Bitcoin price. Last week, Ki Young Ju, CEO of CryptoQuant, noted that the markets were entering a bear market and that investors should expect “6-12 months of bearish or sideways price action.”Related: Will Bitcoin price hit $130K in 90 days? Yes, says one analystBitcoin outflows reach $424M in 7 daysWhile onchain metrics turned red, some investors exhibited confidence in Bitcoin. Data from IntoTheBlock highlighted net BTC outflows of $220 million from exchanges over the past 24 hours. The sum reached $424 million between March 18 to March 24. This trend implies that certain holders are accumulating. Bitcoin net outflows by IntoTheBlock. Source: XOn the lower time frame (LTF) chart, Bitcoin formed an intraday high at $88,752 on March 24, but since then, BTC has yet to establish a new intraday high. Bitcoin 4-hour chart. Source: Cointelegraph/TradingViewWith Bitcoin moving within the trendlines of an ascending channel pattern, it’s expected that the price will face resistance from the upper range of the pattern and 50-day, 100-day, exponential moving averages on the daily chart. With whales possibly shorting between $88,000 and $90,000, Bitcoin needs to close above $90,000 for a continued rally to $100,000. Related: Bitcoin sets sights on ‘spoofy’ $90K resistance in new BTC price boostThis 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.
GameStop hints at future Bitcoin purchases following board approval
GameStop Corporation (GME), the video game retailer turned memecoin stock, is reportedly moving to invest in Bitcoin after its board unanimously approved a plan to acquire digital assets. According to a March 25 CNBC report, the company announced that it would use a portion of its corporate cash or future debt issuances to invest in Bitcoin (BTC) and US-dollar-pegged stablecoins. The plan was further corroborated by the company’s fourth-quarter earnings report, which was released on March 25 and showed intent to acquire Bitcoin and stablecoins. “[T]he Company’s investment policy permits investments in certain cryptocurrency assets, including Bitcoin and US dollar-denominated stable coins,” the financial statement read. GameStop’s cash reserves stood at more than $4.77 billion as of Feb. 1, compared to just $921.7 million one year earlier. The video game retailer posted $1.283 billion in net sales during the fourth quarter and $3.823 billion for fiscal 2024.GameStop’s quarterly financial statements. Source: GameStopRelated: GameStop buying Bitcoin would ‘bake the noodles’ of TradFi: Swan execThis is a developing story, and further information will be added as it becomes available.
Bitcoin miners’ income stabilizes post-halving: Coin Metrics
Bitcoin (BTC) mining revenues hit $3.7 billion in the fourth quarter of 2024, a 42% increase from the prior quarter, and are approaching similar levels of around $3.6 billion in Q1 2025, according to data from Coin Metrics. The revenue uptick suggests miners’ incomes are stabilizing after the Bitcoin network’s “halving” in April 2024 reduced mining rewards from 6.25 BTC to 3.125 BTC per block. Halvings occur every four years and cut the number of BTC mined per block in half. “With almost one year elapsed since Bitcoin’s 4th halving, miners have endured a period of stabilization, adapting to reduced block rewards, tighter margins, and shifting operational dynamics,” Coin Metrics said in its Q1 2025 Data Special report.This recovery could be cut short if ongoing trade wars disrupt miners’ business models, Ben Yorke, VP of Ecosystem at WOO X, a Web3 startup, told Cointelegraph.“Should semiconductor tariffs return, Bitcoin mining could face higher costs, consolidating power among major players and forcing smaller operations to power down,” Yorke said.Bitcoin mining revenues since 2022. Source: Coin MetricsRelated: Bitcoin flips ‘macro bullish’ amid first Hash Ribbon buy signal in 8 monthsAdapting after the halvingBitcoin miners have struggled in 2025 as declining cryptocurrency prices added further pressure to business models strained by the network’s April halving, according to a March 3 JPMorgan research note shared with Cointelegraph.However, well-capitalized miners have managed to adapt, according to Coin Metrics. In fact, Bitcoin’s hashrate — the total computing power securing the network — broke all-time highs in January, CoinWarz data showed. Common adjustments have included “upgrading to more energy efficient ASICs, [and] relocating to regions with cheaper and abundant renewable energy resources,” such as Africa and Latin America, Coin Metrics said. ASICs are specialized computer hardware used in Bitcoin mining. Additionally, “miners are also diversifying into AI data-center hosting as a way to expand revenue and repurpose existing infrastructure for high performance computing,” per the report. For instance, Bitcoin miner Core Scientific pledged 200 megaWatts of hardware capacity to support CoreWeave’s artificial intelligence workloads.Bitcoin supply held long-term has increased over time. Source: Coin MetricsSustaining mining incentivesAccording to Coin Metrics, more transaction activity on the Bitcoin network would help sustain economic incentives for miners post-halving. “Over time, increased participation from higher-value or more time-sensitive activity could help drive stronger fee revenue, supporting miner incentives as block rewards decline,” it said. However, for now, “[t]ransactions below $100 currently represent ~60% of Bitcoin’s total transaction count,” according to Coin Metrics. This is partially because holders are increasingly treating Bitcoin as a buy-and-hold asset, rather than a medium of exchange. “Bitcoin’s supply velocity, measuring the ratio of adjusted transfer volume to its current supply (rate of turnover), has declined over time, reinforcing the idea that BTC is increasingly held rather than transacted,” the report noted.Magazine: Fake Rabby Wallet scam linked to Dubai crypto CEO and many more victims
3 reasons why Cardano (ADA) price could be on the path to new highs
Cardano (ADA) gained 8% between March 23 and March 25, once again testing the $0.76 resistance level, which has held for over two weeks. Although still far from its March 3 high of $1.18, traders remain optimistic about further gains. Their confidence is driven by the ongoing efforts of founder and CEO Charles Hoskinson to highlight the network’s advantages and ADA’s potential to industry leaders, particularly within traditional finance markets.The ADA price surge on March 3 was triggered by US President Donald Trump, who explicitly mentioned Ether (ETH), XRP (XRP), and Cardano on his official social media accounts as leading candidates for the US Digital Asset reserves. However, the Digital Asset Stockpile executive order signed by Trump on March 7 did not include plans to purchase any altcoins, despite his earlier claims.Trump Jr. and Charles Hoskinson will attend DC Blockchain Summit 2025A fresh wave of bullish speculation for ADA emerged after Donald Trump Jr. was announced as a speaker at the DC Blockchain Summit 2025, a panel moderated by Cardano founder Charles Hoskinson. The two-day event in Washington, D.C., will feature several prominent speakers, including Wyoming Governor Mark Gordon, Majority Whip Tom Emmer, Senator Ted Cruz, Senator Cynthia Lummis, and Bo Hines, Executive Director of the Presidential Council of Advisers for Digital Assets.DC Blockchain Summit 2025 agenda. Source: dcblockchainsummitTrump Jr. is scheduled to speak on March 26 alongside three co-founders of World Liberty Financial, a crypto venture backed by US President Donald Trump. Launched in September 2024, the company has conducted two public token sales, raising a total of $550 million. More recently, on March 24, the project introduced a dollar-pegged stablecoin on Ethereum and BNB Chain, though it is not yet tradable.A significant portion of ADA’s recent gains is likely driven by speculation about a potential collaboration with World Liberty Financial, similar to the $30 million investment from Tron founder Justin Sun or Web3Port platform’s $10 million investment. However, some analysts, including 6MV managing partner Mike Dudas, have criticized Trump’s crypto venture, calling it a “pay-to-play” scheme rather than a true decentralized finance (DeFi) gateway.The potential listing of World Liberty Financial’s USD1 stablecoin on Cardano could be a game changer for the blockchain, generating significant hype around Charles Hoskinson sharing the stage with their representatives. Additionally, despite its relatively low total value locked (TVL) and onchain activity, the Cardano network has outperformed some of its competitors during testing.US digital stockpile and Cardano’s DeFi yield could boost demand for ADAImprovements within Cardano’s DeFi ecosystem and the opportunity to capture outsized yields could also benefit ADA price. Hydra, a layer-2 scalability solution on Cardano, has achieved nearly 1 million transactions per second while running a game. Some users have pointed out that no transactions have ever failed on the Cardano base layer, setting it apart from networks like Solana, which claim scalability but have faced issues.Source: TapToolsCiting data from Dune Analytics, TapTools reported a 40% failure rate on Solana transactions in the 30 days leading into March 17. In contrast, the post claims that “every transaction is validated before hitting the chain” on Cardano’s “eUTXO model.” Despite this criticism, user grekos99 argued on the X social network that most failed transactions on Solana are “typically transactions which are not fully executed because some conditions were not met, for example, slippage.”Related: Trump Media looks to partner with Crypto.com to launch ETFsRegardless of perceptions of Cardano’s unique validation and scalability processes, some of its DeFi applications show potential. For example, Indigo, a non-custodial synthetic asset protocol on Cardano, is currently offering a 28% yield on its stablecoin and 20% on Bitcoin-wrapped deposits. However, part of the difference can be explained by returns being paid in INDY tokens, making them less appealing compared to some of its competitors.The path for ADA to reclaim levels above $1 heavily depends on the Cardano Foundation and Charles Hoskinson’s ability to guide the network’s governance and support for use cases that align with its scalability and decentralization goals. Other catalysts include potential developments in the US government’s Digital Asset stockpile and inflows into Cardano’s DeFi applications, which are currently offering higher yields than most competitors.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.
SEC closes investigation into Immutable nearly 5 months after Wells notice
Web3 gaming platform Immutable says the US Securities and Exchange Commission has closed its investigation into the company, clearing it of any further action. Immutable — the firm behind the Ethereum layer-2 ImmutableX — said in a March 25 statement that the SEC shut its inquiry into the firm without finding wrongdoing and “closes the loop on the Wells notice issued by the SEC last year.”In November, Immutable said it received a Wells notice from the regulator — a letter informing that the SEC is considering an enforcement action, typically sent after it concludes there is evidence of possible securities law violations.“We are pleased the SEC has concluded its inquiry. This marks a significant milestone for the crypto industry and gaming as we advance towards a future with regulatory clarity,” Immutable president and co-founder Robbie Ferguson said in a statement.An Immutable spokesperson told Cointelegraph that the SEC sent it a letter of termination that didn’t explain why it had concluded its probe. The spokesperson said the letter was unprompted and that the SEC’s review of information Immutable had sent “appears to have resulted in them closing the investigation.”Immutable said in a November blog post that it believed the SEC was targeting the 2021 “listing and private sales” of its self-titled Immutable (IMX) token.Immutable’s X post after receiving a Wells notice in November 2024. Source: Immutable The company said it had a 10-minute call with the SEC after it had issued the notice where it alleged a 2021 Immutable blog post stating a pre-launch investment made in the IMX token at a price of $0.10, which was issued at a “$10 pre-100:1 split,” was inaccurate and implied there was no exchange of value between the parties.At the time, Immutable said it was “confident in its position” and would fight the regulator’s claims.The SEC has dropped many pending and in progress enforcement actions against crypto companies under President Donald Trump, whose administration has worked to defang the agency to make good on his promise to alleviate the crypto industry from regulatory action.Last month, the SEC stopped its investigations into non-fungible token marketplace OpenSea, trading platform Robinhood, decentralized exchange developer Uniswap Labs and crypto exchange Gemini.Related: Will new US SEC rules bring crypto companies onshore?The regulator has also dropped a slew of its high-profile lawsuits against crypto firms, including those against Ripple Labs, Coinbase and Kraken.Despite the SEC backing off from Immutable, the Manhattan-based Rosen Law Firm has cited the Wells notice in trying to spin up a securities class-action lawsuit against the firm over its IMX token offering, which Immutable’s spokesperson said it’s “not concerned about.”In its statement, Immutable said that major triple AAA gaming studios “have previously cited legal and compliance risks as key barriers to entry” into the Web3 gaming space.“However, with a clear regulatory framework on the horizon, this is expected to unlock further investment and opportunities to tokenize the now more than $100 billion market for in-game purchases,” it added.Web3 Gamer: Classic Sega, Atari and Nintendo games get crypto makeovers