The case against Pavel Durov and why it's important for crypto
Telegram founder Pavel Durov has been allowed to leave France temporarily, but the preliminary charges against him raise significant questions for the crypto community. On March 13, a French court gave the founder and CEO of the encrypted messaging app Telegram permission to leave for Dubai, where he had previously resided. Durov had been in France since August 2024, when he was arrested at the Le Bourget airport in Paris. Durov was part of an investigation containing allegations of negligence and complicity in crimes like narcotics trafficking, money laundering, child sexual exploitation and terrorism. He could face up to 20 years in prison if convicted.More broadly, Durov’s case raises questions about developer responsibility for the cryptographic platforms and tools they create — a well-known issue in the cryptocurrency industry.Is Durov responsible for what happens on Telegram?The preliminary charges against Durov claimed he was responsible, at least in part, for the illicit activities allegedly enabled by the platform’s encryption and support for cryptocurrencies. The argument will sound familiar to crypto industry observers, who have been following the case of Alexey Pertsev, the developer of cryptocurrency mixer service Tornado Cash. As with Durov, prosecutors allege that Pertsev is responsible for the illicit activities that took place on the platform, namely money laundering. Pertsev was arrested in the Netherlands in 2022 and is currently out on bail while he waits for his trial to begin.Related: Tornado Cash dev Alexey Pertsev’s bail a ‘crucial step’ in getting fair trial, defense saysIn both cases, members of the crypto community have recognized the possible implications to free speech and privacy, and come to support the executives. Jose Fabrega, head of marketing at Ethereum-based blockchain Metis, called Durov’s arrest the “Tornado Cash case all over again.”Source: Jose FabregaNatalia Latka, director of public policy and regulatory affairs at blockchain analysis firm Merkle Science, has previously told Cointelegraph that “Historically, software developers were seen as neutral creators of tools and platforms, responsible for their technical functionality but not for how those tools were used.”However, she said this has been changing with the proliferation of decentralized tools that “challenge traditional regulatory frameworks.”This puts decentralized platforms in a “tight spot,” crypto platform Onesafe wrote in a blog post on March 17. “This means knowing the legal frameworks governing their operations and engaging with regulatory bodies.”It also called the Durov case a “pivotal moment” for the cryptocurrency industry and called on crypto firms to advocate for more “balanced regulations” and support advocacy groups. Durov himself wrote on March 17 that Telegram has “not only met but exceeded its legal obligations.” Implications for free speechObservers and critics alike have raised concerns about Durov’s arrest — discussing what it means for free speech and whether the arrest could have been politically motivated. Chris Pavlovski, the CEO of “alt-tech” video-sharing platform Rumble, said that it was the final straw for him and his company, which had previously clashed with French officials over censorship issues. Source: Chris Pavlolvski Gregory Alburov, an investigator for the Anti-Corruption Foundation of late Russian opposition politician Alexey Navalny, said the case “in addition to being unjust as hell (Durov obviously isn’t engaged in terrorism or weapons trafficking), is also a huge blow to freedom of speech.”Durov’s previous clashes with regulators, particularly in 2018, when he refused to comply with an order from Russian telecoms regulator Roskomnadzor, have led many to believe that the charges were politically motivated. While French President Mannuel Macron publicly stated that the case is not an attack on Durov, Dmitry Zair-Bek — a human rights lawyer and head of the human rights organization Department One — disagrees. Related: Free speech and online privacy: Pavel Durov’s rise to the top“Durov is essentially being targeted for his efforts to protect users’ privacy and, of course, for his refusal to cooperate with intelligence agencies,” he said. Regardless of the motivations, the outcome of the case will have clear implications for future platforms. A conviction could intimidate platforms and executives into more intense moderation to the point of censorship, while a victory could embolden others to abandon obligations to regulators and public safety. Durov’s leave in Dubai reportedly extends to April 7. The French prosecutor’s office has not made any public statements regarding the status of the case.Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why
Whale closes $516M 40x Bitcoin short, pockets $9.4M profit in 8 days
A Bitcoin whale has closed over half a billion in short positions, betting on Bitcoin price’s decline ahead of the much-awaited Federal Open Market Committee (FOMC) meeting this week.A large crypto investor, or whale, made nearly $10 million profit after closing a 40x leverage short position for 6,210 Bitcoin (BTC) — worth over $516 million — which functions as a de facto bet on Bitcoin’s price fall.Leveraged positions use borrowed money to increase the size of an investment, which can boost the size of both gains and losses, making leveraged trading riskier compared to regular investment positions.Bitcoin whale closed shirt positions. Source: HypurrscanThe savvy whale closed all his short positions within a few hours, making a $9.46 million profit from Bitcoin’s decline, Hypurrscan data shows.The whale opened the initial $368 million position at $84,043 and faced liquidation if Bitcoin’s price surpassed $85,592.The whale managed to turn a profit, despite having to add $5 million to his short, after a publicly-formed team of traders started to “hunt” his short position’s liquidation, which ultimately failed, noted Lookonchain, in a March 17 X post.Bitcoin whale made $9.4 million in profit. Source: HypurrscanAfter closing his Bitcoin shorts, the whale started accumulating Ether (ETH) with his profits, acquiring over 3,200 Ether for over $6.1 million at 7:31 am UTC on March 18, Etherscan data shows.The profit-taking comes a day ahead of the upcoming FOMC meeting on March 19, which will offer market participants more cues on the Federal Reserve’s monetary policy path for 2025 and has the potential to impact investor appetite for risk assets such as Bitcoin.Related: Bitcoin experiencing ‘shakeout,’ not end of 4-year cycle: AnalystsBitcoin may see upside on easing inflation concerns: analystInflation-related concerns are starting to ease following the release of February’s US Consumer Price Index (CPI), which revealed a lower-than-expected 2.8% year-on-year increase compared to the expected 2.9%.Easing inflation-related concerns may be a positive sign for the upcoming FOMC meeting, according to Fumihiro Arasawa, co-founder and CEO of xWIN Research.The lower CPI reading may also be a positive sign for Bitcoin’s trajectory, the CEO told Cointelegraph, adding:“This suggests that inflationary pressures are gradually easing, which could influence the Federal Reserve’s monetary policy decisions.”“Bitcoin’s short-term price action will depend on whether it can hold the $81,000 support level. A sustained hold could stabilize sentiment, while a breakdown may trigger further corrections,” added Arasawa.Related: Crypto market’s biggest risks in 2025: US recession, circular crypto economyBitcoin target rate probabilities. Source: CME Group’s FedWatch toolMarkets are currently pricing in a 99% chance that the Fed will keep interest rates steady, according to the latest estimates of the CME Group’s FedWatch tool.“The market largely expects the Fed to hold rates steady, but any unexpected hawkish signals could put pressure on Bitcoin and other risk assets,” Ryan Lee, chief analyst at Bitget Research, told Cointelegraph.Magazine: SEC’s U-turn on crypto leaves key questions unanswered
Crypto and money laundering: What you need to know
What is crypto money laundering? Crypto money laundering involves concealing illegally obtained funds by funneling them through cryptocurrency transactions to obscure their origin. Criminals may operate offchain but move funds onchain to facilitate laundering.Traditionally, illicit money was moved using couriers or informal networks like Hawala. However, with the rise of digital assets, bad actors now exploit blockchain technology to transfer large amounts of money. With evolving techniques and increasing regulation, authorities continue working to track and mitigate the misuse of cryptocurrencies for money laundering.Thanks to sophisticated technologies like cryptocurrencies, criminals find moving large amounts of money simpler. As cryptocurrency adoption has grown, so has illicit activity within the space. In 2023, crypto wallets linked to unlawful activities transferred $22.2 billion, while in 2022, this figure stood at $31.5 billion. Stages of crypto money laundering Crypto money laundering follows a structured process designed to hide the source of illicit funds. Criminals use sophisticated methods to bypass regulatory oversight and Anti-Money Laundering (AML) measures. The process unfolds in several stages: Step 1 — Gathering funds: The first step involves gathering funds obtained illegally, often from organized crime or fraudulent activities. These illicit earnings need to be moved discreetly to avoid detection by regulatory authorities. Step 2 — Moving funds into the crypto ecosystem: Criminals now move illicit funds into the financial system by purchasing cryptocurrencies. The modus operandi is to buy cryptocurrencies through multiple transactions across crypto exchanges, particularly those with weak AML compliance. To make tracking more complex, they may convert funds into different digital assets like Ether (ETH), Polkadot (DOT) or Tether’s USDt (USDT). Step 3 — Juggling of funds: At this stage, the criminals hide the funds’ ownership. For this purpose, they move their crypto assets through a series of transactions across different platforms, exchanging one cryptocurrency for another. Often, funds are transferred between offshore and onshore accounts to further complicate tracing. Step 4 — Reintroducing cleaned money into the system: The final step involves reintroducing the cleaned money into the economy, which they do through a network of brokers and dealers. They now invest the money in businesses, real estate or luxury assets without raising suspicion.Did you know? Taiwan’s Financial Supervisory Commission has mandated that all local virtual asset service providers (VASPs) must adhere to new AML regulations by 2025. Various methods criminals use to launder cryptocurrencies Criminals employ several methods to launder illicitly obtained digital assets. From non-compliant exchanges to online gambling platforms, they use various techniques to conceal the transaction trail. Below is some brief information about the methods criminals use.Non-compliant centralized exchangesCriminals use non-compliant centralized exchanges or peer-to-peer (P2P) platforms to convert cryptocurrency to cash. Before being converted into fiat, the cryptocurrency is processed through intermediary services like mixers, bridges or decentralized finance (DeFi) protocols to obscure its origins. Despite compliance measures, centralized exchanges (CEXs) handled almost half of these funds. In 2022, nearly $23.8 billion in illicit cryptocurrency was exchanged, a 68% surge from 2021. Decentralized exchanges (DEXs)DEXs operate on a decentralized, peer-to-peer basis, meaning transactions occur directly between users using smart contracts rather than through a CEX. These exchanges are currently largely unregulated, which criminals use for swapping cryptocurrencies and making investigations harder.The absence of traditional Know Your Customer (KYC) and AML procedures on many DEXs allows for anonymous transactions.Mixing servicesCryptocurrency mixers, also called tumblers, enhance anonymity by pooling digital assets from numerous sources and redistributing them to new addresses randomly. They obscure the funds’ origins before they are sent to legitimate channels. A well-known example of criminals using crypto mixers is Tornado Cash, which was used to launder over $7 billion from 2019 until 2022. The developer of the mixer was arrested by Dutch authorities.Bridge protocolsCrosschain bridges, designed to transfer assets between blockchains, are exploited for money laundering. Criminals use these bridges to obscure the origin of illicit funds by moving them across multiple blockchains, making it harder for authorities to track transactions. By converting assets from transparent networks to privacy-enhanced blockchains, criminals evade scrutiny and reduce the risk of detection. The lack of uniform regulatory oversight across different chains facilitates illicit activity.Online gambling platformsCryptocurrency money launderers frequently exploit gambling platforms. They deposit funds from both traceable and anonymous sources, then either withdraw them directly or use collusive betting to obscure the funds’ origin. This process effectively “legitimizes” the money. The Financial Action Task Force (FATF), in its September 2020 report, identified gambling services as a money laundering risk, specifically highlighting suspicious fund flows to and from these platforms, especially when linked to known illicit sources.Nested servicesNested services encompass a wide range of services that function within one or more exchanges, using addresses provided by those exchanges. Some platforms have lenient compliance standards for nested services, creating opportunities for bad actors. On the blockchain ledger, transactions involving nested services appear as if they were conducted by the exchanges themselves rather than by the nested services or individual users behind them. Over-the-counter (OTC) brokers: A commonly used nested service for money laundering OTC brokers are the most prevalent nested service criminals use for crypto money laundering because they allow them to conduct large cryptocurrency transactions securely and efficiently with a degree of anonymity.Transactions may involve different cryptocurrencies, such as Bitcoin (BTC) and ETH, or facilitate conversions between crypto and fiat currencies, like BTC and euros. While OTC brokers match buyers and sellers in exchange for a commission, they do not participate in the negotiation process. Once the terms are set, the broker oversees the transfer of assets between parties.To combat North Korean cybercrime, the US government has taken strong action against the Lazarus Group’s money laundering activities. In August 2020, the US Department of Justice (DOJ) sought to seize 280 cryptocurrency addresses tied to $28.7 million in stolen funds following an investigation into a $250-million exchange heist.Further, in April 2023, the Office of Foreign Assets Control (OFAC) sanctioned three individuals, including two OTC traders, for aiding Lazarus Group in laundering illicit funds, highlighting the group’s continued reliance on OTC brokers.Did you know? Microsoft Threat Intelligence identifies Sapphire Sleet, a North Korean hacking group, as a key actor in crypto theft and corporate espionage. The evolving landscape of crypto money laundering, explained The complex landscape of crypto money laundering involves a dual infrastructure. While CEXs remain primary conduits for illicit funds, shifts are evident. Crosschain bridges and gambling platforms are witnessing increased usage, reflecting evolving criminal tactics. Analysis of deposit address concentrations and crime-specific patterns highlights vulnerabilities. Crypto money laundering infrastructureBroadly, crypto money laundering infrastructure can be categorized into intermediary services and wallets. Intermediary services include mixers, bridge protocols, decentralized finance (DeFi) protocols and other such services. On the other hand, fiat off-ramping services include any service that can help one convert crypto into fiat currency. While centralized exchanges are more commonly used for this purpose, criminals may also use P2P exchanges, gambling services and crypto ATMs. Crypto criminals use intermediary services to hide the origin of funds by concealing the onchain link between the source address and the current address.Key channels used for crypto money launderingDifferent financial services vary in their ability to combat money laundering. Centralized exchanges, for example, possess more control over transactions and have the authority to freeze assets linked to illicit or suspicious sources. However, DeFi protocols operate autonomously and do not hold user funds, making such interventions impractical. The transparency of blockchain technology enables analysts to track funds passing through DeFi platforms, which is often more difficult with centralized services. Centralized exchanges continue to be the primary destination for assets originating from illicit sources, with a relatively stable trend between 2019 and 2023. There was a significant uptick in ransomware proceeds being funneled to gambling platforms and an increase in ransomware wallets sending funds to bridges.Tracking illicit funds through deposit addressesDeposit addresses, which function similarly to bank accounts on centralized platforms, reveal how financial flows are concentrated. In 2023, a total of 109 exchange deposit addresses each received over $10 million in illicit crypto, collectively accounting for $3.4 billion. Comparatively, in 2022, only 40 addresses surpassed the $10 million mark, accumulating a combined total of just under $2 billion.The concentration of money laundering activity also varies by crime type. For instance, ransomware operators and vendors of illegal content exhibit a high degree of centralization. Seven key deposit addresses accounted for 51% of all funds from exchanges from illegal content vendors, while nine addresses handled 50.3% of ransomware proceeds. Criminals’ shift to crosschain and mixing servicesSophisticated criminals are increasingly turning to crosschain bridges and mixing services to obfuscate their financial transactions. Illicit crypto transfers through bridge protocols surged to $743.8 million in 2023, more than doubling from the $312.2 million recorded in 2022. There has been a sharp rise in funds transferred to crosschain bridges from addresses linked to stolen assets. Cybercriminal organizations with advanced laundering techniques, such as North Korean hacking groups like Lazarus Group, leverage a diverse range of crypto services. Over time, they have adapted their strategies in response to enforcement actions. The shutdown of the Sinbad mixer in late 2023, for example, led these groups to shift toward other mixing services like YoMix, which operates on the darknet. National and international frameworks for crypto AML Governments worldwide have implemented laws and guidelines to prevent crypto money laundering. Various national jurisdictions have put in place regulatory frameworks to ensure compliance.United StatesThe Financial Crimes Enforcement Network (FinCEN) regulates crypto asset service providers to prevent money laundering in the US. Crypto exchanges function under the Bank Secrecy Act, which requires the exchanges to register with FinCEN and implement AML and Counter-Terrorist Financing programs. They have to maintain proper records and submit reports to authorities.CanadaCanada was the first country to introduce crypto-specific legislation against money laundering through Bill C-31 in 2014. Transactions involving virtual assets fall under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and related regulations, requiring compliance from entities dealing in digital currencies.European UnionThe Markets in Crypto-Assets (MiCA) Regulation aims to safeguard consumers from crypto-related financial risks. The EU-wide Anti-Money Laundering Authority (AMLA) has also been set up. Crypto Asset Service Providers (CASPs) must collect and share transaction data to ensure traceability, which aligns with global standards. SingaporeSingapore enforces strict AML regulations through the Payment Services Act, which governs digital payment token services. Companies must conduct customer due diligence and comply with AML and Countering the Financing of Terrorism (CFT) measures to operate legally.JapanJapan regulates cryptocurrency under the Act on Punishment of Organized Crimes and the Act on Prevention of Transfer of Criminal Proceeds, ensuring strict oversight to combat illicit financial activities.Countries also collaborate globally to deter crypto money laundering, forming organizations like the FATF. They are working together for regulatory alignment, information sharing and strengthening AML frameworks.Token issuers also play a crucial role in tackling illicit activities. Notably, stablecoins such as Tether’s USDt (USDT) and USDC (USDC), have built-in mechanisms that allow them to block funds associated with criminal activities, preventing further misuse. How to prevent crypto money laundering Crypto money laundering is evolving and is forcing authorities to adopt advanced blockchain analytics to track illicit transactions. Thus, law enforcement agencies must use sophisticated tools to detect suspicious activity and dismantle criminal networks. Law enforcement has become more adept at tracing illicit transactions, as demonstrated in cases like Silk Road, where blockchain analysis helped uncover criminal operations. However, by working with global bodies like the FATF and the European Commission, authorities can assess high-risk jurisdictions and mitigate threats to the financial system.For crypto service platforms, stringent KYC and AML protocols must be followed, especially for transactions from high-risk areas. Platforms should regularly audit transactions, monitor for suspicious patterns, and collaborate with law enforcement to respond quickly to potential laundering activities.Users also play a role by avoiding transactions with entities operating in high-risk regions and reporting suspicious activities. Familiarizing themselves with secure wallet practices and ensuring their own transactions are traceable (if required) by keeping records can help prevent accidental involvement in illegal activities. Strong cooperation across all parties is key to curbing crypto money laundering.
All but 1 US spot Bitcoin ETF in the red this March
Nearly all United States spot Bitcoin exchange-traded funds (ETFs) had net negative performances in March as analysts expect a bearish Bitcoin trend of up to 12 months. Farside Investors data showed that spot Bitcoin ETFs struggled in March, with net outflows surpassing their monthly net inflows. Asset manager BlackRock’s iShares Bitcoin Trust ETF (IBIT) suffered the most, with outflows reaching $552 million and inflows of only $84.6 million. According to the data, Fidelity’s Wise Origin Bitcoin Fund (FBTC) saw outflows of over $517 million and had inflows of only $136.5. The data also showed that Grayscale’s Bitcoin Trust ETF (GBTC) had outflows of over $200 million and had zero inflows. However, Grayscale’s Bitcoin Mini Trust ETF (BTC) is the only one that defied the trend, with zero net outflows for March and over $55 million in net inflows. Spot Bitcoin ETF flows in millions. Source: Farside InvestorsUS Spot Bitcoin ETFs had outflows of over $1.6 billion in MarchOverall, the spot Bitcoin ETFs combined had outflows of over $1.6 billion in the first 17 days of March and recorded only $351 million in inflows. This wasn’t enough to offset the losses, bringing the net outflow to nearly $1.3 billion.Meanwhile, Ether-based investment products aren’t doing any better. BlackRock’s iShares Ethereum Trust ETF (ETHA) had the most outflows, reaching $126 million, but it did not record any monthly inflows. Fidelity’s Ethereum Fund (FETH) recorded outflows of about $73 million but only had $21 million in inflows. Ether ETFs had negative results throughout March, except for March 4, when inflows reached $14 million. However, spot Ether ETFs performed poorly in the rest of March, with over $300 million in total outflows.Spot Ether ETF flows in millions. Source: Farside InvestorsRelated: Yuga exec warns about ‘true bear market’ Ether price as whales scrambleCryptoQuant CEO says BTC bull cycle is overThe performance of crypto exchange-traded products comes as sentiments for Bitcoin and the crypto market turn bearish. On March 18, CryptoQuant founder and CEO Ki Young Ju said the “Bitcoin bull cycle is over.” The executive expects up to a year of bearish or sideways price action. Ju argued that onchain metrics indicate a bear market. The executive said that new whales are selling low as liquidity dries up. Magazine: Mystery celeb memecoin scam factory, HK firm dumps Bitcoin: Asia Express
LIBRA memecoin orchestrators named as defendants in US class-action suit
The Libra token scandal is set to be reviewed by the Supreme Court of New York after a newly filed class-action lawsuit accused its creators of misleading investors and siphoning over $100 million from one-sided liquidity pools.Burwick Law filed the suit on behalf of its clients against Kelsier Ventures, KIP Protocol and Meteora on March 17 for launching the Libra (LIBRA) token in a “deceptive, manipulative and fundamentally unfair” manner. The token was then promoted by Argentine President Javier Milei on X as an economic initiative to stimulate private-sector funding in the country.The law firm slammed the two crypto infrastructure and launchpad firms behind LIBRA — KIP and Meteora — claiming that they used a “predatory” one-sided liquidity pool to artificially inflate the memecoin’s price, allowing insiders to profit while “everyday buyers bore the losses.”Within hours, the insiders “rapidly siphoned approximately $107 million from the liquidity pools,” causing a 94% crash in LIBRA’s market value, Burwick Law said in a March 17 filing shared on X.Source: Burwick LawPresident Milei was mentioned in the lawsuit but wasn’t named a defendant.Burwick accused the defendants of leveraging Milei’s influence to aggressively promote the token, deliberately creating a false sense of legitimacy and misleading investors about its economic potential.Approximately 85% of LIBRA’s tokens were withheld at launch and the “predatory infrastructure techniques” allegedly used by the defendants weren’t disclosed to investors, Burwick said.“These tactics, combined with omissions about the true liquidity structures, deprived investors of material information.”Burwick is seeking compensatory and punitive damages, the disgorgement of “unjustly obtained” profits and injunctive relief to prevent further fraudulent token offerings.Related: Law firm demands Pump.fun remove over 200 memecoins using its IPData from blockchain research firm Nansen found that of the 15,430 largest Libra wallets it examined, over 86% of those sold at a loss, combining for $251 million in losses.Only 2,101 profitable wallets were able to take home a combined $180 million in profit, Nansen noted in a Feb. 19 report.The venture capital firm behind the LIBRA token, Kelsier Ventures, and its CEO, Hayden Davis, were apparently two of the biggest winners from the token launch. They claim to have netted around $100 million.Davis, who is now facing a potential Interpol red notice following an Argentine lawyer’s request, said on Feb. 17 that he didn’t directly own the tokens and wouldn’t sell them.Meanwhile, Milei has distanced himself from the memecoin, arguing he didn’t “promote” the LIBRA token — as fraud lawsuits filed against him have alleged — and instead merely “spread the word” about it.Argentina’s opposition party called for Milei’s impeachment but has had limited success thus far.Magazine: Meet lawyer Max Burwick — ‘The ambulance chaser of crypto’
‘Bitcoin bull cycle is over,' CryptoQuant CEO warns, citing onchain metrics
CryptoQuant’s head chief says Bitcoin’s bull market could already be over — changing his stance from earlier in the month when he said the Bitcoin bull cycle will be slow but “is still intact.”“Bitcoin bull cycle is over, expecting 6-12 months of bearish or sideways price action,” CryptoQuant founder and CEO Ki Young Ju said in a March 17 X post.All signals are currently bearish, says JuJu said that all Bitcoin (BTC) onchain metrics indicate a bear market. “With fresh liquidity drying up, new whales are selling Bitcoin at lower prices,” Ju said. It comes only days after Cointelegraph reported that Bitcoin funding rates, which reflect the cost of holding long or short positions in crypto futures, are hovering close to 0%, indicating increasing indecisiveness among traders.Ju’s claim is in stark contrast to his March 4 post, where he said the Bitcoin bull cycle will remain slow but “is still intact,” pointing to neutral readings on key indicators. “Fundamentals remain strong, with more mining rigs coming online,” Ju said in a March 4 X post.Other analysts aren’t as bearish. Swyftx lead analyst Pav Hundal told Cointelegraph that “there is no reason to panic.”Hundal explained that while investors are “spooked” by US President Donald Trump’s tariffs, “all the numbers show a global economy that is pointing in the right direction.”“Money will move to on-risk assets when the market is ready to take on risk.”At the time of publication, Bitcoin is trading at $83,030, down 14.79% over the past month, according to CoinMarketCap data.Bitcoin is down 14.89% over the past month. Source: CoinMarketCapSome analysts think that given that the global M2 money supply has just reached new highs, Bitcoin could be set for an uptrend.“I’m saying Global Money Supply just made another new ATH. We are about to see Bitcoin rally again,” crypto analyst Seth said in a recent X post.Likewise, CoinRoutes CEO Dave Weisberger said that if the historical trend persists, Bitcoin could reach all-time highs by late April.“Expect Bitcoin to hit a new ATH within a month if its BETA correlation to money supply holds,” Weisberger said in a March 17 X post.Related: Bitcoin price fails to go parabolic as the US Dollar Index (DXY) falls — Why?However, based on historical data, Bitcoin’s current price is 67% lower than the lower bound should be, according to former Phunware CEO Alan Knitowski.“At this stage of the cycle, the lower bound of the historical range should be around $250,000,” Knitowski said in a March 17 X post.Source: Alan KnitowskiSwan Bitcoin CEO Cory Klippsten recently told Cointelegraph that “there’s more than a 50% chance we will see all-time highs before the end of June this year.” Bitcoin’s current all-time high of $109,000 was reached on Jan. 20, just hours before Trump was inaugurated as US President.Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s whyThis 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.
Canary Capital proposes first Sui ETF in US SEC filing
Canary Capital has filed its sixth proposed crypto exchange-traded fund (ETF) with US regulators, this time for one tracking the spot price of the crypto token Sui.In a March 17 Form S-1 filing to the Securities and Exchange Commission, the crypto investment firm requested to list the Canary SUI ETF, which didn’t include information on what exchange it would trade on or the proposed ticker symbol.The ETF would directly hold Sui (SUI), the native token of the layer-1 blockchain used for fees and staking, which is the 23rd largest cryptocurrency with a market value of around $7.36 billion, per CoinGekco.Sui is trading up 1.3% over the last day to $2.31 and has gained 7.3% over the week. It has, however, fallen 56.5% from its Jan. 5 all-time peak of $5.35.Sui’s price over the last 24 hours hit a high of $2.38 but has since slightly fallen. Source: CoinGekcoCanary had registered a trust in Delaware on March 6 for the fund, and it must also file a Form 19b-4 with the SEC before the agency can consider whether to list it for trading.Canary’s Sui filing is its sixth crypto ETF bid with the SEC. In the past few months, it filed for ETFs tracking Solana (SOL), Litecoin (LTC), XRP (XRP), Hedera (HBAR) and Axelar (AXL).The filing comes after Sui said on March 6 that it partnered with World Liberty Financial, the crypto platform backed by US President Donald Trump.Part of the partnership saw World Liberty include the Sui token in its so-called “Macro Strategy” token reserve and explore further product opportunities together.Related: Hashdex amends S-1 for crypto index ETF, adds seven altcoinsTrump has promised to relax regulatory enforcement against crypto, which has sparked a flurry of crypto ETF filings amid optimism that the SEC under his administration will move to greenlight them.The SEC has delayed making decisions on multiple crypto ETF filings, but Commissioner Hester Peirce said last month that the agency would wait until the Senate confirms Trump’s pick to chair the SEC, Paul Atkins, before deciding on an agenda for crypto.A Senate confirmation hearing for Atkins is reportedly slated for March 27, having been delayed due to issues with financial disclosures.Magazine: Crypto fans are obsessed with longevity and biohacking — Here’s why
Microsoft warns of new remote access trojan targeting crypto wallets
Microsoft has recently issued a warning about a new remote access trojan (RAT) that specifically targets cryptocurrency wallets. This malware, known as StilachiRAT, has the ability to steal sensitive information such as credentials, digital wallet data, and even data stored in the clipboard. The tech giant’s Incident Response Team discovered the malware last November and has since found that it targets 20 different cryptocurrency wallet extensions for the Google Chrome browser.
According to Microsoft’s blog post, the StilachiRAT malware uses various methods to extract information from the target system. This includes scanning for configuration information for popular crypto wallet extensions like Coinbase Wallet, Trust Wallet, MetaMask, and OKX Wallet. The malware also has capabilities for detection evasion and anti-forensics, making it difficult to detect and analyze.
In addition to stealing information, StilachiRAT can also monitor clipboard activity for sensitive data like passwords and crypto keys. It can also clear event logs and check for signs that it is running in a sandbox, further complicating analysis attempts.
While Microsoft has not been able to identify the perpetrators behind this malware, they hope that by publicly sharing this information, they can prevent more people from falling victim to it. The tech giant advises users to have antivirus software and cloud-based anti-phishing and anti-malware components on their devices to protect against such threats.
Unfortunately, crypto-related scams, exploits, and hacks have been on the rise, with losses totaling nearly $1.53 billion in February alone. This includes the $1.4 billion Bybit hack, which accounted for the majority of losses. According to blockchain security firm CertiK, this highlights the need for increased security measures in the crypto industry.
In its 2025 Crypto Crime Report, blockchain analytics firm Chainalysis also noted the professionalization of crypto crime, with the use of AI-driven scams, stablecoin laundering, and efficient cyber syndicates. The report also revealed that there was $51 billion in illicit transaction volume in the past year.
As the crypto industry continues to grow, it is crucial for users to remain vigilant and take necessary precautions to protect their assets. With the increasing sophistication of cybercriminals, it is important to stay informed and stay ahead of potential threats.