Wemix denies cover-up amid delayed $6.2M bridge hack announcement
Wemix Foundation CEO Kim Seok-hwan said they had no intention of concealing a hack on its bridge, which led to over $6 million in losses.In a press conference, Kim reportedly said there was no attempt to cover up the incident, even though the audience pointed out the announcement was delayed.On Feb. 28, over 8.6 million WEMIX tokens were withdrawn due to an attack on the platform’s Play Bridge Vault, which transfers WEMIX to other blockchain networks. The company only made an official announcement four days after the attack. According to Kim, the announcement was delayed due to the possibility of further attacks and to avoid causing panic in the market because of the stolen assets. Related: Bank of Korea to take ‘cautious approach’ to Bitcoin reserveWemix CEO outlines risks of premature announcementWemix said the hacker broke into their system by stealing the authentication key for the company’s service monitoring system of Nile, its non-fungible token (NFT) platform. After the theft, the hacker spent two months preparing before randomly creating abnormal transactions. The hackers attempted to withdraw 15 times but only succeeded with 13 withdrawals, taking away 8.6 million WEMIX tokens and selling them in exchanges outside South Korea. Kim explained that upon becoming aware of the hack, they immediately shut down their servers and began their analysis.The executive added that they filed a complaint against the unidentified hacker with the Cyber Investigation Team of the Seoul National Police Agency. The Wemix CEO said the authorities had already started investigating the matter. Kim said that there was a risk in making a premature announcement. The CEO said that in a situation where the penetration method was not identified, they could be exposed to further attacks. Kim also reiterated that the market had already seen some impact from the sold assets, and they would risk panic selling if they announced it immediately. During the press release, the executive apologized to Wemix investors, saying that the disclosure delay was his call and that he should be held responsible if anything goes wrong. WEMIX token drops 39% amid hack announcementDespite the attempt to avoid causing market panic, the WEMIX token dropped by nearly 40% from the day of the exploit to March 4, when the company finally announced the hack. The price went from $0.70 on Feb. 27 to a low of $0.52 on Feb. 28. The price went down to $0.42 on March 4. At the time of writing, the crypto asset trades at $0.58, which is still 17% below its pre-hack price. WEMIX token price chart. Source: CoinGeckoMagazine: Ridiculous ‘Chinese Mint’ crypto scam, Japan dives into stablecoins: Asia Express
Not every AI agent needs its own cryptocurrency: CZ
Artificial intelligence agents need to prioritize their intrinsic utility, not the launch of their in-house native tokens to raise funds.AI agent-related tokens have significantly declined over the past month, as their cumulative market capitalization decreased by over 21% to the current $27 billion, according to CoinMarketCap data.While their continued decline may be part of the broader crypto market correction, another reason could be a lack of focus on intrinsic utility, according to Changpeng Zhao, the founder and former CEO of Binance, the world’s largest cryptocurrency exchange.30-day market cap chart of AI agent tokens. Source: CoinMarketCapZhao wrote in a March 17 X post:“While crypto is the currency for AI, not every agent needs its own token. Agents can take fees in an existing crypto for providing a service.”“Launch a coin only if you have scale. Focus on utility, not tokens,” he added.Source: Changpeng ZhaoZhao’s comments come during a significant downtrend for AI cryptocurrencies, which lost over 61% of their peak $70.4 billion market capitalization in the three months since they started to decline on Dec. 7.AI agent tokens, market cap, 1-year chart. Source: CoinmarketcapNumerous venture capital firms, including Pantera Capital and Dragonfly, are excited about the future of AI agents but have yet to invest in them, according to a panel discussion at Consensus 2025 in Hong Kong.Related: 0G Foundation launches $88M fund for AI-powered DeFi agentsAI agents are performing autonomous blockchain transactions, exchange servicesAI agents are gaining increasing interest thanks to their promise of increasing online productivity, streamlining decision-making processes and creating new financial opportunities.AI agents are already executing autonomous transactions on the blockchain without direct human input.The concept gained attention following a Dec. 16 post by Luna, an AI agent on Virtuals Protocol, which sought image-generation services.LUNA virtual protocol, X post. Source: LunaLuna also received an X response from STIX Protocol, another autonomous AI agent, which generated the requested images.LUNA payments to STIX protocol. Source: BasescanAfter the images were generated, Luna paid STIX Protocol’s AI agent $1.77 worth of VIRTUAL tokens on Dec. 16, onchain data shows.Yet, some of the demand for AI agents has since faded, as Virtuals Protocol’s revenue fell 97%, Cointelegraph reported on Feb. 28.Related: Libra, Melania creator’s ‘Wolf of Wall Street’ memecoin crashes 99%Industry watchers foresee a year of significant upside for the emerging field of AI cryptocurrencies.AI agents launch platform ai16z and decentralized trading protocol Hyperliquid are “poised for growth in 2025,” Alvin Kan, chief operating officer of Bitget Wallet, told Cointelegraph. “Emerging narratives like AI-driven investments, decentralized AI agents and tokenized assets hint at a tech-driven shift, though with added risk,” he said.Magazine: ETH may bottom at $1.6K, SEC delays multiple crypto ETFs, and more: Hodler’s Digest, March 9 – 15
Peak 'FUD' hints at $70K floor — 5 Things to know in Bitcoin this week
Bitcoin (BTC) heads into FOMC week in a cautious mood, with multimonth lows still uncomfortably close.BTC price action preserves $80,000 support as upside liquidity looks ripe for the taking.The Fed is the center of attention with a decision due on interest rates and traders eagerly scanning Chair Jerome Powell for dovish signals.A return to accumulation among Bitcoin top buyers forms grounds for confidence over market stability going forward.Historical BTC price cycle analysis delivers an impressive $126,000 target for the start of June.Those looking to “be greedy when others are fearful” should concentrate on $69,000, research concludes. Bitcoin trader sees $87,000 liquidity grabA comparatively quiet weekend saw BTC/USD avoid a lasting sell-off into the weekly close, instead only dipping to $82,000 before rebounding. Data from Cointelegraph Markets Pro and TradingView shows a broad reclaim of the $80,000 mark cementing itself in recent days.BTC/USD 1-hour chart. Source: Cointelegraph/TradingView“Not a bad Sunday for Bitcoin,” crypto trader, analyst and entrepreneur Michaël van de Poppe summarized in part of his latest market analysis on X. “We still have Monday to go, but this looks like we’re making a new higher low on Bitcoin before attacking the highs again.”BTC/USDT 4-hour chart. Source: Michaël van de Poppe/XOther market participants echoed the sentiment, including those seeing another retest of multimonth lows to take liquidity and “trap” late shorts.“I think Bitcoin will hit 78k first to grab liquidity before an Upside Breakout,” popular trader Captain Faibik argued in part of his own X content. “Once the breakout occurs, Bitcoin is likely to reach 109k in the coming weeks (Possibly by mid-April).”BTC/USDT 1-day chart. Source: Captain Faibik/XFellow trader CrypNuevo meanwhile noted that liquidity was skewed mostly to the upside, resulting in key targets for bulls to take.“The area between $85.4k & $87.1k is the main liquidity zone,” an X thread explained. “A move up targeting this area in the upcoming week seems more than likely.”Bitcoin exchange order book liquidity data. Source: CrypNuevo/XFed’s Powell in the spotlight as FOMC week arrivesBitcoin and risk-asset traders have one macroeconomic event only on their minds this week: the US Federal Reserve’s interest rate decision.Coming at what commentary calls a “pivotal point in time,” the move by the Federal Open Market Committee (FOMC) will have wide-ranging implications for market sentiment.On the surface, it appears that few surprises will likely come as a result of the second meeting of 2025 — inflation may be cooling, but Fed officials, including Chair Jerome Powell, maintain a hawkish stance on the economy and financial policy.Powell has repeatedly stated that he is in no rush to cut rates, leading to almost unanimous market bets that current levels will remain unchanged after FOMC.🇺🇸 FOMC: Polymarket users predict a 99% chance that the Fed will not make any rate cut changes on Mar. 20. pic.twitter.com/zaDGBsmAZM— Cointelegraph (@Cointelegraph) March 17, 2025The latest estimates from CME Group’s FedWatch Tool see a high probability of cuts coming only in June.Should Powell strike a more relaxed tone during his accompanying statement and press conference, the mood could easily flip.“If Powell even whispers ‘QE’ at the next FOMC, markets will move fast,” crypto technical analyst Kyle Doops argued in part of an X post on the topic. “But knowing Powell, he’ll keep it as vague as possible.”Fed target rate probabilities. Source: CME GroupDoops referred to quantitative easing, a byword for liquidity injections and something that historically benefits crypto performance.Behind the scenes, US M2 money supply is already increasing — a key ingredient for a crypto market rebound.“M2 money supply rose +3.9% year-over-year in January, the fastest pace in 30 months. This is the 11th straight month of money supply expansion,” trading resource The Kobeissi Letter noted at the weekend.Kobeissi added that worldwide liquidity is following a similar pattern.“Meanwhile, global money supply has risen by ~$2.0 trillion over the last 2 months, to its highest since September 2024,” it reported.“Money supply is expanding again.” US M2 money supply chart. Source: The Kobeissi Letter/XRecent buyers show new “hodling behavior”Newer Bitcoin investors are showing signs of maturing behavior as the bull market drawdown persists.The latest findings from onchain analytics platform CryptoQuant reveal accumulation taking over for the older half of the short-term holder (STH) cohort.STH entities are those who bought BTC up to six months ago. Per CryptoQuant, investors hodling between three and six months are now entering “accumulation” by refusing to succumb to panic selling, despite potentially being underwater on their stack.“According to the latest data, the percentage of coins held for 3 to 6 months has been rising rapidly, mirroring the accumulation patterns observed during the prolonged correction in the summer of 2024,” contributor ShayanBTC wrote in one of its “Quicktake” blog posts on March 16.“This trend highlights a hodling behavior, where investors refrain from selling their Bitcoin despite the current market correction.”Bitcoin realized cap by UTXO age (screenshot). Source: CryptoQuantAn accompanying chart shows Bitcoin’s realized cap split by the age of unspent transaction output (UTXOs). This reflects the total value of coins based on the price at which they last moved, with those dormant for between three and six months rising rapidly.“Historically, this type of resilience among Bitcoin holders has played a crucial role in forming market bottoms and igniting new uptrends,” the post continues. “As long-term holders continue accumulating, the available supply in circulation decreases, making Bitcoin more scarce. When demand eventually picks up, this supply squeeze often leads to price surges, pushing Bitcoin toward new record highs.”As Cointelegraph reported, however, STH buyers from 2025 have exhibited strikingly different reactions to the BTC price drop, selling coins with a combined $100 million loss since the start of February alone.$126,000 BTC price by June?Network economist Timothy Peterson’s historically accurate BTC price metric, Lowest Price Forward, recently gave 95% odds of BTC/USD never dropping below $69,000 again.Now, another calculation sees the potential for new all-time highs by the start of June.Bitcoin seasonal comparison. Source: Timothy Peterson/XComparing BTC price performance since 2015 at the weekend, Peterson described Bitcoin as currently being “near the low end” of what remains a standard range.The next two months, however, should be critical — April is historically one of the two best months for the Bitcoin bull market. “Nearly all of Bitcoin’s annual performance occurs in 2 months: April and October,” Peterson commented. “It is entirely possible Bitcoin could reach a new all-time high before June.”Bitcoin growth of $100 comparison. Source: Timothy Peterson/XFurther analysis produced a BTC price target of $126,000 as an average level that Bitcoin could still attain within the next two-and-a-half months. $70,000 marks a key “FUD” watershedWhen it comes to BTC price predictions, social media analysis is giving research firm Santiment cause to pay attention to two levels in particular.Related: Bitcoin reclaims $80K zone as BNB, TON, GT, ATOM hint at altcoin seasonIn its latest investigation, Santiment tied $69,000 and $100,000 to extremes in market outlook.“Over the past month, we have not seen Bitcoin’s market value fall below $70K OR rise above $100K,” it summarized on X. “That means looking at the crowd’s social predictions of $100K is a great gauge for FOMO. Historically, markets move the opposite direction of the crowd’s expectations.”Bitcoin social media data. Source: Santiment/XAccompanying data examined social media mentions of various BTC price levels.“This is why clusters of blue bars (representing $10K-$69K $BTC predictions) so reliably foreshadow a reversal (or buy signal), especially while markets are moving down and the crowd is getting fearful,” Santiment explained.Crypto Fear & Greed Index (screenshot). Source: Alternative.meThe Crypto Fear & Greed Index stood at 32/100 on March 17, out of its “extreme fear” bracket and at its highest levels since Feb. 24.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.
Victim of a crypto scam? Here’s what to do next
Beware of various forms of cryptocurrency scams Cryptocurrency scams can manifest in various forms, often preying on the lack of regulation and the complexity of blockchain transactions. You must be aware of common tactics used in cryptocurrency scams. These include:Phishing scams: Attackers send fraudulent emails or messages that mimic legitimate cryptocurrency platforms. Victims may be tricked into providing sensitive information such as private keys or login credentials.Ponzi schemes: Promises of high returns with little to no risk lure investors into schemes that eventually collapse, leaving many with significant losses.Fake ICOs: Fraudulent projects present a compelling investment opportunity, only to disappear after collecting funds.Rug pulls: In decentralized finance (DeFi), developers of a project could suddenly withdraw all funds from a liquidity pool, leaving investors with worthless tokens. This malicious act is called a rug pull, and it typically occurs after a project has gained enough momentum and unsuspecting investors have bought into it. Social media impersonations: Cybercriminals impersonate reputable influencers or customer support accounts. They use social media to solicit investments or send links that compromise security. Always cross-check identities through official channels.AI-powered scams: AI-powered scams in the crypto space involve advanced tools like phishing bots, deepfakes and exploit bots, which can automatically create convincing fake messages or manipulate platforms to steal funds. These scams are increasingly sophisticated, making it harder for users to spot fraudulent activities and putting digital assets at greater risk. Immediate steps: What to do after a crypto scam If you suspect you have fallen victim to a crypto scam, taking prompt action is crucial. Here’s a step-by-step guide on what to do after a crypto scam:1. Secure your accounts:Change passwords and enable two-factor authentication (2FA) on your cryptocurrency accounts.Transfer the remaining funds to a secure wallet to minimize further risk.2. Document the incident:Keep records of all communications, transaction IDs and any other relevant details. This documentation will be essential for recovery efforts and legal action against crypto scams, if possible.3. Report the scam:Contact local law enforcement and financial regulatory bodies. Many countries have dedicated cybercrime units that can investigate such incidents.File a complaint with consumer protection agencies and report the scam on platforms like the Financial Conduct Authority (FCA) in the UK or the Internet Crime Complaint Center (IC3), a division of the FBI that handles internet-related crimes in the US. You can also report cryptocurrency fraud to Action Fraud in the UK, which will then escalate the case to the National Crime Agency (NCA), which is responsible for investigating major cybercrimes and financial fraud.4. Seek professional guidance:Consult legal experts specializing in digital assets for legal action regarding crypto scams. They can help navigate the complex legal landscape and potentially assist in recovering lost funds.Engage cybersecurity professionals who can provide crypto fraud help and advice on strengthening your digital security.5. Monitor and track transactions:Utilize blockchain explorers to trace the movement of your stolen assets. Although cryptocurrencies are designed for transparency, identifying the destination of funds can be challenging without professional assistance.Consider reaching out to companies specializing in blockchain analytics for a detailed investigation.Did you know? Argentine President Javier Milei’s X post endorsing the LIBRA token briefly sent its market cap soaring to $4 billion — only for him to delete it hours later, triggering a crash that wiped out millions in investor funds. How to report a cryptocurrency scam in the US Reporting crypto scams in the US can be challenging because responsibility is spread across multiple agencies at the federal, state and local levels. Before reporting any scam, keep all transaction records, screenshots, emails and any other communications related to the fraud. Determine if it was a phishing attack, fake investment or another form of fraud. This helps in categorizing the complaint accurately. The next steps in reporting the scam are as follows:Federal reportingFBI’s Internet Crime Complaint Center (IC3): This is one of the primary platforms for reporting online financial crimes, including those involving cryptocurrencies. Although many victims report scams through IC3, feedback is often minimal, underscoring the need for a more responsive system.Additional Federal Agencies: Depending on the nature of the scam, you might also consider contacting regulators like the Securities and Exchange Commission (SEC) if the fraud involves investment scams.State and local authoritiesLocal law enforcement: File a report with your local police or cybercrime unit. They can sometimes offer immediate assistance or direct you to specialized resources.State regulators: Some states have dedicated offices for financial protection. For example, in California, authorities like the Department of Financial Protection and Innovation (DFPI) have been actively addressing emerging crypto scams, from fake mining schemes to fraudulent investment groups.Given the fragmented crypto crime reporting system in the US, industry leaders have called for a streamlined, centralized reporting system that not only consolidates data from various agencies but also offers victims a way to track the status of their complaints. While this system is not yet in place, being aware of this need can help you set realistic expectations and encourage further advocacy.Engage with specialized supportLegal consultation: Many crypto scams are orchestrated from overseas, making cross-border cooperation essential. A lawyer specialized in cryptocurrency or cybercrime in your jurisdiction could help you navigate the legal system and work with the appropriate agencies. Blockchain analysis firms: Some companies offer forensic services to trace the movement of funds on the blockchain. However, ensure you thoroughly research these firms to avoid further scams. Is it possible to recover crypto lost in scams? It’s one of the toughest questions for anyone scammed in the crypto space: Can I get my lost crypto back? Unfortunately, the short answer is that recovery can be incredibly difficult, but it’s not impossible.Crypto transactions, by nature, are irreversible. Once you send crypto to a scammer’s wallet, no central authority like a bank can reverse the transaction. However, there are still a few steps you can take to attempt recovery and minimize future risks.First, report the scam by contacting local authorities, such as Action Fraud in the UK or the FBI’s IC3 in the US. While they may not be able to recover your funds directly, reporting the incident creates a record of the scam, which could help in more extensive investigations or lead to action against the scammers in the future.Crypto exchanges and wallet providers may also be able to assist if the scam involves funds sent to or received by a platform they control. Contact their support team immediately. Although the likelihood of recovery from an exchange is slim, some platforms may freeze accounts or funds related to suspicious activities.Use blockchain forensics services that specialize in tracing the flow of stolen cryptocurrency on the blockchain. They might help you track where your funds went, and sometimes, this information can be handed over to law enforcement to assist with investigations. However, if your funds were sent to a private wallet or mixed through services designed to obscure transactions, recovery becomes significantly more challenging.While it may not always feel like there’s hope, acting quickly and understanding the complexities of crypto recovery can make a difference. Remember, the best recovery tactic is prevention; staying informed is your first defense.Did you know? Elliptic, a blockchain analytics firm, traced funds stolen in the record-breaking $1.5 billion Bybit hack to the North Korean Lazarus Group, which laundered the assets through exchanges like eXch. Preventative measures: Avoiding cryptocurrency scams Preventing future scams is as critical as recovering from one. Avoiding cryptocurrency scams is all about staying informed and cautious. Implement the following measures to reduce your risk:Do your homework: Before investing in any project or platform, take the time to research. Look into the team behind it, read the white paper and check out reviews from reputable sources. If you can’t find clear, verifiable information or something feels off, trust your instincts and steer clear.Stay updated on scam tactics: The tactics used by scammers are constantly evolving. Familiarize yourself with common scams like phishing, AI-powered or impersonation scams. Following crypto news and joining reputable online communities can keep you informed about the latest warning signs.Question “too-good-to-be-true” offers: If someone promises sky-high returns with little risk, it’s likely a red flag. In crypto, as in any investment, high rewards usually come with high risks. A legitimate opportunity won’t pressure you with unrealistic promises.Verify websites and emails: Scammers often create lookalike websites and send fake emails that mimic trusted services. Always double-check URLs and email addresses, and if something doesn’t match the official website or seems unusual, avoid clicking on any links.Secure your digital assets: Treat your crypto wallets like a personal safe. Use hardware wallets for long-term storage, enable 2FA on all accounts and never share your private keys or recovery phrases. Think of your private keys as the keys to your house — keep them secure and private.Take your time: Scammers love to create urgency with “limited-time offers” or “exclusive deals.” If you’re being rushed into a decision, pause and do your research. Legitimate opportunities will still be available after you’ve had time to verify the details.Diversify your investments: Never put all your money into one asset or project. Diversification helps manage risk and protects you if one investment turns out to be less secure than expected.Seek trusted opinions: If you’re unsure about an investment or an offer, ask for advice from knowledgeable friends or community members. Trusted crypto communities and forums can be great for getting second opinions — but always be cautious and cross-check the information.By staying vigilant, questioning deals that seem too good to be true and taking simple security measures, you can significantly reduce the risk of falling victim to crypto scams. It’s all about being cautious and making informed decisions. Your future self will thank you!
Solana’s 5th birthday: From pandemic origins to US crypto stockpile
Layer-1 blockchain Solana is marking its fifth anniversary since launching its mainnet in 2020. Over the years, it has become one of the most active blockchain networks by transaction volume and is among the few cryptocurrencies proposed for inclusion in a US digital asset reserve.Since the first Solana block was built on March 16, 2020, the network has processed more than 408 billion transactions and nearly $1 trillion worth of value on decentralized exchanges — establishing itself as one of the industry’s leading layer-1 blockchains.Source: SolanaHere are some of the Solana ecosystem’s most notable milestones since it was launched by Solana Labs CEO Anatoly Yakovenko and Solana co-founder Raj Gokal to the public in 2020.Solana was born just as the COVID-19 pandemic hitWhile Solana’s origins can be traced back to late 2017 when Yakovenko released a white paper outlining a timekeeping method for blockchains called “Proof of History,” but Solana wasn’t launched until March 2020 — right as the world started to enact emergency measures against the COVID-19 pandemic.The high-speed, low-cost layer 1 Solana blockchain launch was assisted by crypto-focused venture capital firm Multicoin Capital, leading a financing round for Solana, which brought in roughly $20 million worth of private token sales in July 2019.Source: OKXAdditional funding poured in soon after, and within 20 months of launching, Solana was hailed as a potential “Ethereum killer” as it soared to a $77.8 billion market cap at the peak of the 2020-2021 bull cycle.Solana hit hard by 2022 bear market, FTX collapse — but bounced backThe 2022 bear market, coupled with the catastrophic collapse of crypto exchange FTX, tanked Solana’s market cap to $3 billion — a whopping 96% fall from its previous peak — by late 2022.Sam Bankman-Fried’s former firm purchased around 58 million Solana tokens — currently worth $7.4 billion — from Solana Labs and the Solana Foundation. Solana was “by far the most serious” layer 1 that FTX was helping scale, Fortune said in an April 2022 report.FTX filed for Chapter 11 bankruptcy on Nov. 11, 2022, and is still in the process of unlocking hundreds of millions of dollars worth of staked Solana tokens from FTX’s wallets. Solana’s price fell to $8.30 on Dec. 29, 2022.Despite the setback, 2023 marked the start of Solana’s impressive comeback, which saw its market cap rise nearly 50-fold from $3 billion to over $140 billion by Jan. 19, 2025. Memecoin craze takes Solana adoption to the next levelOne of the biggest reasons behind Solana’s comeback was the crypto memecoin craze that took place between late 2023 and 2024 — a $100 billion market that Solana dominated.Several Solana memecoins such as Bonk (BONK), Dogwifhat (WIF), Fartcoin (FARTCOIN) and Pudgy Penguins (PENGU) rose to multibillion-dollar market caps in early 2024 — around the time Solana memecoin launchpad Pump.fun became one of the most popular crypto platforms for memecoin lovers. Pump.fun alone has raked in over $540 million in revenue over the last 12 months and even surpassed Ethereum over 24-hour intervals at some points.Solana is home to many of the largest memecoins by market cap. Source: CoinGeckoNo Solana memecoin, however, drew more attention than the Official Trump (TRUMP) token launched by now-US President Donald Trump’s inner circle on Jan. 17 — which soared to a $14.6 billion market within two days before it came crashing down.The TRUMP memecoin briefly pushed Solana decentralized finance (DeFi) total value locked to $14.2 billion, trailing only Ethereum, DefiLlama data shows. happy 5th birthday @solana 🥳congratulations on 5 years of building & shipping the greatest tech to ever grace our industry 🫶manlets on top 🎉 pic.twitter.com/Clkv3eEpn9— pump.fun (@pumpdotfun) March 16, 2025The Solana blockchain has also become the third largest adopter of stablecoins behind Ethereum and Tron.Solana unveils the first major crypto phoneIn May 2023, Solana released the first major crypto phone, called “Solana Saga.”Sales for the Android device with the built-in crypto wallet started slow but skyrocketed after a 30 million BONK airdrop enticed memecoin enthusiasts to make a purchase.Solana also unveiled a newer, shinier Solana “Seeker” smartphone last September to better facilitate memecoin trading and accrue token rewards.While most reviewers say the Solana phones lack the technical capabilities of an iPhone or Google Pixel, Solana has seen over 140,000 presales for the two products.The Solana Seeker phone is currently priced at $500.Hardware specifications of the Solana Seeker phone. Source: Solana MobileSolana, however, has also been plagued with several network outages over its five-year span — halting block production for 20 hours in some instances. Solana validators have been forced to restart the network on several occasions when network activity surged.A new independent validator client called Firedancer is scheduled to go live on Solana’s mainnet sometime in 2025 to address Solana’s client diversity woes. It has been touted as a superior solution to “QUIC” — a Google-developed data transfer protocol that has failed to process transactions on Solana over a dozen times.Solana set to be included in Trump’s Digital Asset StockpileThe Trump administration says it will include Solana in the Digital Asset Stockpile, which it confirmed through an executive order on March 7. It is the youngest cryptocurrency on the list. The Digital Asset Stockpile will initially use cryptocurrency forfeited in government criminal cases.Related: Solana proposal to cut inflation rate by up to 80% fails to passThe US doesn’t appear to hold Solana, according to crypto analytics firm Arkham Intelligence. However, the White House said it would complete an audit of crypto asset holdings.Trump initially announced that Solana would become a US reserve asset on March 2.Source: Donald TrumpHowever, he later established a Bitcoin-only reserve and the Digital Asset Stockpile, which looks like it will include Solana in addition to Ether (ETH), XRP (XRP) and Cardano (ADA).Solana is currently priced at $128.17 — the sixth-largest cryptocurrency with a market cap of $64.5 billion. Solana is down 56% from its all-time high as the broader market continues to navigate through recession fears and weakened market sentiment of late.Magazine: Comeback 2025: Is Ethereum poised to catch up with Bitcoin and Solana?
Trump’s second ex-wife calls for end of persecution against Roger Ver
Marla Maples, the second ex-wife of US President Donald Trump, has recently shown support for ending the country’s case against early Bitcoin advocate Roger Ver, also known as “Bitcoin Jesus.” In a tweet on March 16, Maples shared a video created by an organization aimed at supporting Ver and tagged Trump, Elon Musk, and US Attorney General Pam Bondi.
Ver was charged by the Department of Justice in April 2024 with mail fraud, tax evasion, and filing false tax returns. The charges allege that he hid the amount of Bitcoin he owned when he renounced his US citizenship in 2014 and defrauded the Internal Revenue Service out of $48 million by failing to report the gains he made through selling them.
Maples, who was married to Trump from 1993 to 1999, has long been involved with philanthropy and has advocated for multiple charities and causes. She is seemingly still close to and supportive of Trump, as she attended his inauguration and has expressed her willingness to serve him in any way possible.
Maples joins a list of high-profile figures, including Ethereum co-founder Vitalik Buterin and Silk Road creator Ross Ulbricht, in calling for the dismissal of Ver’s prosecution. Ver has appealed to Trump for a pardon, claiming he is a victim of “lawfare.” However, neither Trump nor the White House has publicly acknowledged his plea.
Ver was arrested in Spain at the time of the US indictment and was later granted bail on the condition that he remain in the country. He has since moved to dismiss the government’s case, arguing that the charges are unconstitutional and that the IRS’ “exit tax” for renounced citizens is unclear when applied to cryptocurrency.
Cointelegraph has reached out to Maples for comment on her support for Ver. This case raises questions about Trump’s involvement in the crypto industry and potential conflicts of interest and insider trading. As the case continues, it remains to be seen how it will impact the relationship between the US government and the crypto community.
OKX suspends DEX aggregator to stop ‘further misuse’ by Lazarus
Crypto exchange OKX has temporarily paused its decentralized exchange aggregator to prevent “further misuse” by North Korean hacking collective Lazarus Group.“Recently, we detected a coordinated effort by Lazarus group to misuse our defi services,” said OKX on March 17.“After consulting with regulators, we made the proactive decision to temporarily suspend our DEX aggregator services. This move allows us to implement additional upgrades to prevent further misuse.” The OKX helpdesk confirmed that the DEX aggregator was temporarily suspended for an “internal review and upgrade” but did not provide a timeline. It added that crypto wallet services will remain available to all customers, but it will “pause new wallet creation in select markets during this time.”Source: OKXOn March 11, Bloomberg reported that European Union financial watchdogs were investigating the firm’s DEX aggregator, called OKX Web3, and its wallet services for their alleged role in laundering funds from the Bybit hack.“Over the past few days, we’ve faced targeted media attacks questioning our integrity and operations,” the firm stated in a blog post. It added that it “can’t ignore the fact that these attacks are happening at a time when we are actively fighting against financial crime.”According to Bybit CEO Ben Zhou, nearly $100 million from the $1.5 billion Bybit hack had been laundered through OKX’s Web3 proxy, with a portion of the funds now untraceable.OKX responded on March 11, stating that the “Bloomberg article is misleading,” saying that when Bybit got hacked, OKX reacted in two ways: by freezing associated funds from moving into its CEX, and developing the new hack detection features.Related: Lazarus Group sends 400 ETH to Tornado Cash, deploys new malwareOKX stated that the goal is to ensure that explorers properly highlight the actual DEX processing trades “rather than mistakenly identifying our aggregator as the point of trade.”The exchange has already deployed a “hacker address detection system” for its DEX aggregator in addition to a system to track the hacker’s latest addresses and block them on its centralized exchange in real time.“We already rolled out a lot of controls for OKX Web3 to fight with the misuse, including prohibited markets’ IP blocking and real-time black address detection and blocking system,” said OKX CEO Star Xu on March 17.The firm also clarified that the OKX Web3 DEX aggregator is not a custodian of customer assets, adding that its function is to provide access to liquidity across multiple protocols. However, “some have deliberately misrepresented our platform,” it said. Magazine: ETH may bottom at $1.6K, SEC delays multiple crypto ETFs, and more: Hodler’s Digest
Bank of Korea to take ‘cautious approach’ to Bitcoin reserve
The Bank of Korea has recently announced that it is taking a cautious approach towards potentially including Bitcoin in its foreign exchange reserves. This decision comes after a written inquiry from Representative Cha Gyu-geun of the National Assembly’s Planning and Finance Committee.
According to officials from the Korean central bank, they have not yet looked into the possibility of adding Bitcoin (BTC) to their reserves due to its high volatility. They stated that a cautious approach is necessary, as Bitcoin’s price can fluctuate greatly and the transaction costs to cash out could rise drastically in times of market instability.
This announcement comes amidst global discussions on the role of cryptocurrencies in national financial strategies, sparked by US President Donald Trump’s executive order to establish a strategic Bitcoin reserve and digital asset stockpile. However, the Bank of Korea has emphasized that their foreign exchange reserves must have liquidity and be immediately usable when needed, as well as a credit rating of investment grade or higher. These are criteria that Bitcoin does not currently meet in their opinion.
Some members of Korea’s Democratic Party have urged the country to integrate Bitcoin into its national reserves and develop a won-backed stablecoin. However, the Bank of Korea has stated that their reserves must be held in proportion to the currencies of countries with which they trade, and Bitcoin does not fit this criteria.
Professor Yang Jun-seok of Catholic University of Korea agrees with the Bank of Korea’s decision, stating that it is appropriate for foreign exchange to be held in proportion to the currencies of trading partners. Professor Kang Tae-soo from the KAIST Graduate School of Finance also commented on the US likely leveraging stablecoins rather than BTC to maintain dollar hegemony.
In related news, a Democrat lawmaker has urged the US Treasury to cease Trump’s plans for a Bitcoin reserve. Meanwhile, South Korea’s financial regulator is examining Japan’s legislative trend towards crypto assets as they consider lifting a ban on crypto exchange-traded funds in the country.
In conclusion, while there is increasing global discussion on the role of cryptocurrencies in national financial strategies, the Bank of Korea has taken a cautious approach towards including Bitcoin in their foreign exchange reserves. They have cited Bitcoin’s high volatility and lack of liquidity and credit rating as reasons for their decision.