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Former U.S. President Donald Trump has reportedly granted pardons to three co-founders of cryptocurrency exchange BitMEX, who had previously pleaded guilty to federal charges.

According to a March 28 report by CNBC, Trump issued pardons for Arthur Hayes, Benjamin Delo, and Samuel Reed, who were facing criminal charges related to money laundering and violations of the Bank Secrecy Act. In February 2022, Hayes and Delo admitted to “willfully failing to establish, implement, and maintain an Anti-Money Laundering program” at BitMEX. Reed entered a guilty plea a few weeks later.

Source: Arthur Hayes

As of the time of publication, the White House had not officially announced the pardons. Cointelegraph reached out to BitMEX for comment but had not received a response.

Since assuming office on January 20, Trump has granted several controversial pardons, including to over 1,500 individuals charged in connection with the January 6, 2021, U.S. Capitol riot. He also pardoned Silk Road founder Ross Ulbricht, who had served more than 11 years in prison. Speculation has arisen regarding the possibility of a pardon for former FTX CEO Sam Bankman-Fried, who is serving a 25-year sentence for misusing customer funds and has reportedly sought favor with Trump and Republican lawmakers.

U.S. authorities charged Hayes, Delo, Reed, and BitMEX’s first employee, Gregory Dwyer, in 2020 for violations of the Bank Secrecy Act. Amid the legal proceedings, Hayes stepped down as BitMEX’s CEO.

The rationale behind Trump’s decision to pardon the BitMEX co-founders remains unclear. The three had already been sentenced in 2022 to penalties including home detention or probation. They were also ordered to pay $30 million in civil penalties as part of a settlement with the U.S. Commodity Futures Trading Commission (CFTC).

BitMEX had previously agreed to pay $100 million in consent payments to both the CFTC and the U.S. Financial Crimes Enforcement Center in 2021. In January 2024, a judge imposed a $100 million fine and two years of unsupervised probation on HDR Global Trading Limited, BitMEX’s parent company.

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Strategy is ramping up efforts to secure more debt and equity financing to expand its Bitcoin holdings as part of its corporate treasury strategy.

The company has priced its latest round of perpetual preferred stock, a move it typically makes before acquiring more Bitcoin. The shares will be sold at $85 each with a 10% coupon, generating approximately $711 million in revenue.

Market analyst Jesse Myers noted that the 11.8% annual dividend from this offering allows Strategy to attract investors away from the bond market, which currently offers a 4.2% return.

On March 17, Strategy made its latest Bitcoin purchase, acquiring 130 BTC worth around $10.7 million. This brought its total holdings to 499,226 BTC, valued at $41.8 billion. The purchase was the smallest on record for the company and came after a three-week pause. Despite this, co-founder Michael Saylor has indicated plans to continue raising capital through debt and equity sales to further grow Bitcoin reserves.

Source: SaylorTracker

Strategy Seeks Additional Capital for BTC Expansion

On March 10, Strategy announced plans to periodically sell shares of its 8% Series A perpetual preferred stock to raise up to $21 billion for Bitcoin acquisitions. The company followed up on March 18 with an offering of 5 million shares in Series A preferred stock to generate additional capital.

According to SaylorTracker, Strategy’s Bitcoin investment remains up approximately 26% overall, with over $8.6 billion in unrealized gains, despite recent market fluctuations.

However, Strategy’s stock price has faced volatility, dropping more than 26% since early March from its January 2025 peak and falling over 44% from its all-time high of around $543 on November 21. Currently, shares are trading at about $299, marking a 29% recovery from the recent low of $231 recorded on March 11.

Source: TradingView

The company’s inclusion in the Nasdaq 100, which tracks the top 100 tech-focused companies by market capitalization, has bolstered capital inflows. However, it has also made Strategy more susceptible to broader market downturns in the tech sector.

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Aleksei Andriunin, the founder of Gotbit, has agreed to forfeit approximately $23 million in Tether (USDT) and USD Coin (USDC) as part of a plea deal with federal prosecutors in Massachusetts.

According to a report from Law360 on March 19, Andriunin, a Russian national, has agreed to plead guilty to three charges of conspiracy to commit wire fraud and market manipulation. The plea deal follows allegations that Gotbit, a Belize-registered market maker, engaged in widespread cryptocurrency market manipulation from 2017 to 2024.

Details of the Plea Agreement

Under the terms of the deal, Andriunin will surrender about $23 million in USDT and USDC. The agreement was outlined in a letter signed by Andriunin on March 19.

An excerpt from letters in the Gotbix founder case related to the $23 million forfeiture as part of the plea with Massachusetts prosecutors: Law360 

“Defendant understands and agrees that forfeiture shall not satisfy or affect any fine, lien, penalty, restitution, cost of imprisonment, tax liability, or any other debt owed to the United States,” the letter stated.

Massachusetts attorney Leah Foley clarified that the plea agreement only applies to the Massachusetts district and does not bind the US Attorney General or any other federal, state, or local authorities. Foley also noted that the court is not obligated to follow the proposed sentencing guidelines, meaning Andriunin cannot withdraw his plea if the court imposes a different sentence.

Extradition and Legal Background

Andriunin, 26, was extradited to the United States in October 2024 after being arrested by Portuguese authorities. He has since appeared in a federal court in Boston, Massachusetts, where he was ordered to remain in custody.

The charges stem from an October 2024 indictment that accused Andriunin and Gotbit of conducting a large-scale market manipulation scheme. Gotbit reportedly created artificial trading volume for cryptocurrency projects, including firms in the United States, over a seven-year period.

Other Gotbit Employees Implicated

Massachusetts prosecutors have also named other Gotbit executives in the case, including marketing director Fedor Kedrov and sales director Qawi Jalili, both of whom are based in Russia.

Foley’s letter stated that the assets listed in the forfeiture agreement are controlled by Andriunin on behalf of Gotbit, despite technically belonging to the company.

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The U.S. Securities and Exchange Commission’s (SEC) long-running legal battle with Ripple is finally coming to a close, marking a major victory for the company and the broader crypto industry.

Ripple CEO Brad Garlinghouse announced on March 19 that the SEC will drop its appeal against the company, effectively ending the multi-year enforcement action.

“This is the moment we’ve been waiting for”

“This is it — the moment we’ve been waiting for. The SEC will drop its appeal — a resounding victory for Ripple and for crypto in every way,” Garlinghouse wrote on X (formerly Twitter).

Source: Twitter

In an accompanying video, Garlinghouse confirmed, “I’m finally able to announce that the case has ended; it’s over.”

The resolution comes four years after the SEC filed a lawsuit against Ripple in December 2020, alleging that the company conducted a $1.3 billion unregistered securities offering through its sale of XRP.

Announcement at the Digital Asset Summit

Garlinghouse made the announcement at the Digital Asset Summit in New York.

“Just a few minutes ago, right before I walked up here, I posted on X that the SEC is no longer pursuing their appeal in the Ripple case,” he told the audience.

“We’re now closing a chapter in crypto history,” Garlinghouse added. “It’s time to make the United States the crypto capital of the world.”

Gratitude and a Path Forward

Garlinghouse expressed gratitude toward the new SEC leadership and members of the U.S. government for working toward a “rational and constructive” approach to crypto regulation.

“It’s gratitude to everyone who stood by us — to every Ripple employee, to our incredible legal team, to the XRP family, our customers, and our partners,” Garlinghouse said.

He described Ripple’s victory as a turning point for the U.S. crypto industry, highlighting that it sends a “powerful message” about the future of innovation in the sector after years of regulatory pressure under former SEC Chair Gary Gensler.

XRP Spikes Following the News

Ripple’s token, XRP, surged approximately 9% in the first hour after the announcement, according to data from Cointelegraph Markets Pro and TradingView.

Source: TradingView

At the time of publication, XRP ranked as the third-largest cryptocurrency by market cap, reaching $146 billion.

The news also triggered a broader rally across the crypto market, with multiple tokens posting minor gains in response to Garlinghouse’s statement.

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Crypto and fintech firms are seeking bank charters under the Trump administration, aiming to expand operations and reduce borrowing costs, according to a Reuters report.

At least six industry executives said the new political climate presents an opportunity for crypto firms to boost credibility with customers by securing banking licenses. A bank charter allows a firm to operate as a bank, defining its structure, permitted activities, and regulatory obligations to ensure customer protection and financial stability.

“We’ve seen a lot more interest and are working on several applications now,” said Alexandra Steinberg Barrage, a partner at Troutman Pepper Locke. She noted that clients are “cautiously optimistic” but awaiting more clarity as Trump’s team appoints financial regulators.

Under the Biden administration, securing bank charters was difficult. Regulators were slow to approve applications, especially from crypto firms, reflecting a more cautious stance toward the sector.

Two sources involved in current applications said interest in bank charters has surged since Trump’s return to office. However, they are waiting to see how many firms will proceed with applications.

A bank charter imposes stricter regulatory oversight but offers benefits. Carleton Goss, a partner at Hunton Andrews Kurth working on three applications, said it could lower borrowing costs by allowing firms to draw on deposits and improve market credibility.

“It makes sense for them to get ahead of the curve and secure more capital at a lower cost,” said Goss.

Interest from Wall Street has also grown. In February, major banks explored IPO opportunities with crypto firms. Exchanges like Gemini and Bullish have shown interest in going public, while Kraken and stablecoin issuer Circle are considering similar moves.

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Cryptocurrency exchange-traded products (ETPs) continued to bleed capital last week, marking the 17th straight day of outflows — the longest losing streak since CoinShares began tracking data in 2015.

$1.7B in Outflows Marks Fifth Consecutive Week of Selling

Crypto ETPs recorded $1.7 billion in outflows last week, accelerating from $876 million the week before. This brings the five-week total to $6.4 billion, according to CoinShares’ report on March 17. Despite this sustained selling pressure, year-to-date (YTD) inflows remain positive at $912 million.

James Butterfill of CoinShares noted that the ongoing sell-off reflects weakening investor sentiment, but some products have managed to buck the trend.

Bitcoin ETPs Lead Losses With $5.4B in Outflows

Bitcoin ETPs accounted for the bulk of the selling, with $978 million in outflows between March 10 and March 14. This followed $756 million in outflows in early March, bringing the five-week total for BTC ETPs to $5.4 billion. YTD inflows for Bitcoin ETPs stood at $612 million as of March 14.

Source: CoinShares

Other major cryptocurrencies also faced pressure:

• Ether ETPs saw $175 million in outflows.

• Solana ETPs recorded $2.2 million in outflows.

• XRP ETPs bucked the trend with $1.8 million in inflows.

21Shares and BlackRock Lead Outflows

European crypto ETP provider 21Shares recorded the largest outflows last week, with $534 million leaving its funds. However, the U.S. market saw the biggest regional losses, with $1.2 billion exiting American crypto ETPs.

Source: CoinShares

Among issuers, BlackRock — the largest holder of crypto assets — reported $401 million in outflows last week, raising its month-to-date (MTD) losses to $594 million.

ProShares was the only major issuer to record positive inflows, with $2 million in MTD gains. ProShares remains one of just three issuers, alongside BlackRock and ARK Invest, to maintain positive YTD inflows by mid-March.

Binance Assets Drop After Seed Investor Exit

Binance also faced a sharp decline in assets under management (AUM) after a key seed investor exited. This left Binance with just $15 million in AUM, according to Butterfill.

Conclusion

While crypto ETPs continue to face heavy selling pressure, some products — including XRP and ProShares — have shown resilience. Investors will be watching closely to see if this prolonged selling streak signals a deeper shift in market sentiment or a temporary correction.

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A fraudulent cryptocurrency, allegedly called the “National Hong Kong Coin,” is being promoted by an account impersonating Hong Kong’s Chief Executive, John Lee. The scam has led to a series of warnings from both local authorities and regulators urging traders not to fall for the fake coin.

On March 6, Johnny Ng, a Hong Kong lawmaker and vocal supporter of cryptocurrency, took to social media to warn the public about the imposter account, which had claimed the coin would be launched on the Solana blockchain. The account under the username “JohnLeeKa_Chiu” falsely announced that a new Solana-based token would become the “National Hong Kong Coin,” citing it as a breakthrough in the region’s digital innovation and economic development.

Ng quickly refuted the claims, emphasizing that the Hong Kong government had no involvement in the launch, labeling the coin as a scam. “The government has made it clear that this information is absolutely false and is intended to deceive. Citizens are reminded to be cautious and not to be misled by such scams!” Ng wrote in his post.

The impersonator behind the account had initially posted on March 5, 2025, claiming the “Hong Kong Coin” would launch on March 6 at 3:00 AM Hong Kong time. However, the account later revised the launch time to 17:00 Hong Kong time, or 1:00 AM EST. Despite the changes, the coin’s official ticker, “HKONG,” was shared alongside the token’s contract address on the meme coin launchpad, Pump.fun.

By the scheduled launch time, the market cap of the token soared as high as $215,000. However, just minutes later, it dropped by more than 50%, with its market cap plummeting to $78,787. Notably, data from Pump.fun revealed that 80% of the tokens were controlled by a few top holders, signaling the likelihood of a rug pull, where early investors are left with worthless tokens once the promoters abandon the project.

Despite the warnings, the fraudulent account managed to attract a large audience, with the initial post about the “Hong Kong Coin” being viewed by over 162,000 accounts and shared 146 times. The impersonator account, which has been active since 2017 and earned a grey checkmark in 2019, seems to have leveraged its legitimacy to gain trust and promote the scam.

This scam highlights the growing concerns over fraudulent crypto schemes, especially as Hong Kong works to strengthen its position as a crypto hub in Asia. The region has been ramping up efforts to issue crypto licenses and push forward initiatives related to tokenization and stablecoins, further underlining the need for vigilance against scams within the space.

Authorities continue to advise caution to traders and urge them to verify any information before making investments in the volatile world of cryptocurrencies. As the Hong Kong government pushes forward with its crypto initiatives, the spotlight remains on the industry’s efforts to secure its growth while combating deceptive activities like this one.

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Matthew Sigel, VanEck’s head of digital assets research, has raised concerns that upcoming upgrades to the Solana blockchain could significantly reduce validator earnings and potentially increase centralization risks.

In a post shared on X on March 4, Sigel outlined three key proposals — SIMD 096, SIMD 0123, and SIMD 0228 — that aim to enhance Solana’s economic framework. While these proposals may help improve the overall network, they also have the potential to slash validator revenue by up to 95%.

Key Proposals and Their Impact

SIMD 096: This proposal, implemented on February 12, directed 100% of priority fees to validators, effectively eliminating the previous system that burned half of the fees. While staking payouts were boosted, the proposal discouraged off-chain trading agreements between validators and traders.

SIMD 0123: Currently up for vote, this proposal seeks to divert more revenue away from node operators by requiring validators to pay priority fees to stakers, further cutting into their earnings.

SIMD 0228: The most contentious of the proposals, SIMD 0228, is set to be voted on March 6. It suggests adjusting Solana’s inflation rate based on staking participation. The proposal would decrease the annual inflation rate from 4.7% to 0.93% if staking levels remain at 63%. While this would reduce token dilution and help support SOL’s price, it would also decrease staking rewards, negatively affecting validators’ income.

The Risk of Centralization

Solana’s validators are particularly concerned about the high operating costs associated with running nodes. These costs include mandatory voting fees of 1.1 SOL daily (roughly $58,000 annually) and approximately $6,000 in hardware expenses per year. Currently, only 458 of Solana’s 1,323 validators possess enough stake to turn a profit, leaving smaller operators vulnerable to being pushed out of the network.

Several community members have proposed lowering voting fees to ease the financial burden on validators. Despite the controversy surrounding these proposals, Sigel believes that reducing inflation would benefit SOL in the long term by lowering sell pressure and supporting the token’s value.

Solana’s Strong Network Activity

Despite the concerns surrounding validator profitability, Solana’s network continues to perform strongly. In February, Solana surpassed Ethereum for the fifth consecutive month in decentralized exchange volume, reaching $109 billion, according to data from DeFiLlama.

However, Sigel warns that the current proposals could make operating a node financially unfeasible for smaller validators, leading to a more centralized network. This shift could undermine Solana’s decentralized ethos, as larger operators would hold a greater share of the network, consolidating power among a few key participants.

The upcoming changes could reshape the Solana ecosystem, with significant implications for its validator community and long-term network decentralization.

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Analysts are warning that the cryptocurrency market may face heightened volatility in the coming weeks, as a series of macroeconomic developments stoke a risk-off sentiment among investors. The crypto market shed more than $500 billion in just 24 hours, and experts are forecasting even wilder swings in the future as global tensions continue to weigh heavily on investor confidence.

A $500 Billion Loss in 24 Hours

According to The Kobeissi Letter, the total market capitalization of cryptocurrencies plummeted by over $500 billion within a single day. This loss follows U.S. President Donald Trump’s recent announcement about creating a strategic U.S. crypto reserve, which would hold a basket of cryptocurrencies, with Bitcoin and Ethereum as core assets. At its peak, the crypto market surged from $2.7 trillion to $3.1 trillion in just 10 hours after the announcement. However, this brief rally was short-lived, and the market quickly reversed course, dropping back to $2.6 trillion.

The sharp decline is being described as a “colossal retail trap” that caught bullish traders off guard. In fact, crypto funds experienced a record $2.6 billion in outflows in late February, marking a $500 million increase over the previous record set in 2024.

Bitcoin and Ethereum Take Major Hits

Bitcoin, the largest cryptocurrency by market cap, saw its value drop by more than 3% from its pre-announcement level, wiping out nearly $250 billion in market cap over just 12 hours. Similarly, Ethereum slid by 8%, falling to $2,002, down from its earlier rebound.

The crypto market’s downturn comes amid broader market sell-offs, with the S&P 500 falling nearly 5% and tech stocks, including Nvidia, taking a major hit.

Escalating Global Trade Tensions

The sharp drop in crypto prices coincides with a series of macroeconomic events that are contributing to an overall sense of uncertainty in global markets. On March 3, President Trump announced a 25% tariff on Canada and Mexico, escalating trade tensions. Both countries have vowed to retaliate, while China has raised tariffs on key U.S. imports by 10-15% in response to the U.S. tariffs.

This has created a “risk-off” environment, as investors move away from risky assets, including cryptocurrencies, in favor of safer bets. According to The Kobeissi Letter, the global shift toward risk-off trading is the key driver behind the sell-off in crypto markets. Analysts also note that economic policy uncertainty, especially in the context of a potential trade war, is fueling fears and contributing to a broader market decline.

Bitcoin No Longer a Safe Haven

In the face of these market conditions, analysts believe that Bitcoin is no longer being viewed as a safe haven asset. As investors flee to traditional safe-haven assets like gold, Bitcoin’s price has been under pressure. Since the beginning of the year, gold prices have risen by 10%, while Bitcoin has fallen by nearly 10%.

“The crypto market is no longer viewed as a safe-haven play,” analysts at The Kobeissi Letter noted. In contrast to Bitcoin’s struggles, gold is now seen as the top asset for investors seeking protection from global instability.

More Volatility on the Horizon

Looking ahead, analysts are warning that even more volatility is likely. Goldman Sachs’ Volatility Panic Index, which tracks market anxiety, has surged from 1.4 in December to 9.1 as of last Friday, nearing the 10-level—last seen during previous major market shocks. According to The Kobeissi Letter, this surge in volatility is signaling that extreme price swings are becoming the new normal in global financial markets.

Additionally, a Bank of America survey cited by analysts shows that a significant majority of investors no longer see Bitcoin as a viable safe-haven asset. Just 3% of respondents believe Bitcoin would perform well during a full-scale trade war, while 58% of respondents view gold as the top safe-haven asset for 2025.

A Silver Lining?

Despite the ongoing turbulence in the crypto market, some analysts remain optimistic about the long-term outlook. Matt Mena, Crypto Research Strategist at 21Shares, told crypto.news that the market reaction to the recent tariffs may have been an overreaction. “Many investors had anticipated these moves, and we expect to see some degree of stabilization as trading resumes,” he said.

Mena added that the broader structural trends favoring institutional adoption of cryptocurrencies remain intact. “Despite the short-term volatility, the long-term outlook for the crypto sector remains bright,” he concluded.

Conclusion

As the crypto market continues to grapple with a combination of macroeconomic factors, including trade tensions and growing concerns about economic instability, analysts warn that further volatility is likely. With investor sentiment shifting away from riskier assets like Bitcoin and toward safer havens such as gold, the coming weeks could bring even more turbulence for the crypto market. However, some remain hopeful that long-term trends in crypto adoption will prevail, despite short-term challenges.

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The bullish momentum that XRP enjoyed during the fourth quarter has come to a halt, with the token now in danger of a deeper price decline. The latest dip has pushed XRP below the $2 support level for the first time since February 2, signaling increased vulnerability amidst a broader market downturn.

Market Factors Driving XRP’s Decline

The primary driver behind this decline seems to be the ongoing macroeconomic issues in the United States. With former President Donald Trump threatening substantial tariffs on goods from Canada, Mexico, and China, concerns about stagflation have risen. This could force the Federal Reserve to cut interest rates prematurely, resulting in further economic uncertainty.

Adding to the concern, the 10-year Treasury yield has decreased to 4.26%, while the 30-year yield has dropped to 4.53%. Just months ago, both were hovering near 5%, reflecting the Fed’s previous stance of maintaining higher rates for an extended period.

Despite this market turbulence, Ripple’s underlying fundamentals remain strong. The odds of a favorable outcome in its legal battle with the U.S. Securities and Exchange Commission (SEC) have improved, especially given the SEC’s recent decision to drop lawsuits against platforms like Coinbase and Uniswap.

Ripple’s Ecosystem Remains Resilient

Moreover, the XRP Ledger ecosystem continues to grow, attracting more developers and keeping the network vibrant. Speculation around a potential XRP spot exchange-traded fund (ETF) is also on the rise. If approved, an XRP ETF could bring billions of dollars in inflows, boosting demand for the token.

Technical Indicators Point to More Downside for XRP

From a technical perspective, XRP has entered a critical danger zone. After dropping to a low of $1.9615, it breached a key support level, which also happens to be the neckline of a head-and-shoulders pattern. This chart pattern is a bearish signal, indicating the potential for further downside once the neckline is broken.

XRP’s price has also fallen to the 50% Fibonacci retracement level, slipping below the 50-day moving average. Additionally, the Average Directional Index (ADX) has surged to 36, indicating a strong bearish trend. ADX values above 20 suggest that momentum is strengthening in the direction of the prevailing trend.

What’s Next for XRP?

Based on these technical signals, XRP could continue its descent, possibly reaching the 61.8% Fibonacci retracement level at $1.6230. This is typically where most pullbacks find support. However, if XRP fails to hold this level, it could see a significant drop, potentially testing the 78.6% retracement level at $1.13—roughly 45% below its current price.

For now, investors will need to watch for a reversal at these critical support levels. If XRP fails to bounce back, a 45% drop could be a real possibility. The outcome will largely depend on the broader market trends and whether XRP can regain bullish momentum or if the bearish trend will continue to dominate.

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Paytm has joined forces with Perplexity AI to introduce an AI-powered search feature to its app, offering users a smarter, more interactive way to manage their finances. This groundbreaking update allows users to ask questions, explore topics, and receive real-time, personalized responses in their own language—streamlining financial management and providing easy access to a wealth of information in one place.

The collaboration aims to democratize financial literacy, making it more accessible for millions of users across India. With Perplexity’s advanced AI, Paytm is going beyond payments, positioning itself as a smart assistant that provides insights into financial markets, answers everyday questions, and helps users make more informed decisions. This move effectively redefines Paytm’s role from a digital wallet into a comprehensive digital assistant for everyday living.

Vijay Shekhar Sharma, Founder and CEO of Paytm, emphasized the crucial role AI will play in transforming how Indians access information. “AI is transforming the way people access information and make decisions. With Perplexity, we are bringing the power of AI to millions of Indian consumers, making knowledge and financial services more seamless and accessible.”

Perplexity, known for providing real-time, source-backed answers, is positioning itself as an advanced alternative to traditional search engines. Aravind Srinivas, CEO & Co-founder of Perplexity, highlighted that the partnership marks a significant step towards an AI-first digital experience. “Our AI-powered search technology will help bring real-time insights, enabling users to make informed decisions effortlessly,” he stated.

This partnership is aligned with Paytm’s broader vision of driving digital inclusion and leveraging technology to empower users, making financial and knowledge-based decisions easier and more accessible.

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Paxos Digital Singapore, the issuer of the Global Dollar (USDG) stablecoin, has officially expanded its operations to the Solana blockchain, marking a significant step in broadening the stablecoin’s availability and use cases. Announced on February 25, 2025, USDG, which is pegged to the U.S. dollar, is now accessible on Solana, following its initial launch on Ethereum in November 2024.

Paxos Digital Singapore, a subsidiary of Paxos and regulated by Singapore’s Monetary Authority of Singapore (MAS), has partnered with prominent crypto exchanges, wallets, and blockchain platforms to accelerate the distribution of USDG to both individuals and institutions. The stablecoin is already available for use by institutions via key platforms like Anchorage Digital and Kraken.

Accelerating Global Stablecoin Adoption

Lily Liu, President of the Solana Foundation, emphasized that the integration of USDG onto Solana would fuel global adoption of stablecoins, particularly in sectors like payments and finance. She stated, “The launch of USDG on Solana will accelerate stablecoin adoption for payments and finance at a global scale, unlocking new opportunities for businesses and retail users alike.”

This expansion marks a milestone in Paxos’ strategy to broaden the use cases of USDG. The stablecoin is now set to serve various sectors, including cross-border payments, remittances, card payments, and treasury management. Alfred, a payments infrastructure firm, Caliza, a Brazilian fintech company, and Noah, a cross-border payments provider, are among the partners who will help integrate USDG into their platforms.

A Borderless Financial Future

The collaboration between the Global Dollar Network and these partners is expected to drive USDG adoption on Solana, fostering the growth of stablecoins in emerging markets, particularly in regions like Latin America, the Middle East, and Africa.

Ezra Kebrab, CEO and founder of Caliza, highlighted the role of stablecoins in promoting a borderless financial system. “The future of finance is borderless, and stablecoins are making it a reality. Joining the USDG network enables Caliza to break down barriers to economic opportunity. Now, businesses worldwide can benefit from access to dollar-denominated financial products that are safe and regulated,” he said.

Growth of the Stablecoin Market

As global regulatory changes and market trends continue to shape the crypto space, stablecoins are experiencing increased adoption across a wide range of use cases. While Tether (USDT) and Circle’s USDC remain the dominant stablecoins by market share, Paxos aims to challenge that status with USDG, alongside its other stablecoin offerings, including Pax Dollar (USDP) and Pax Gold (PAXG).

In addition to USDG, Paxos also issues PayPal USD (PYUSD) and Lift Dollar, a yield-bearing stablecoin. The company’s diversified stablecoin portfolio aims to tap into the growing demand for regulated and reliable digital currencies, particularly in underserved markets and industries.

By integrating USDG with Solana, Paxos positions itself at the forefront of the stablecoin market, ready to take advantage of the increasing global demand for digital, dollar-backed assets.

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Japan-based Metaplanet has made a significant move to further solidify its position as one of the country’s most active corporate Bitcoin investors. On February 25, the company announced the purchase of 135 Bitcoin (BTC) for a total of 1.939 billion yen ($12.8 million). This addition brings Metaplanet’s total Bitcoin reserves to 2,235 BTC, with an average price of 12.44 million yen ($82,000) per Bitcoin.

Following in the footsteps of companies like MicroStrategy, which boasts the largest corporate Bitcoin treasury, Metaplanet has steadily increased its holdings since launching its Bitcoin Treasury Operations. This strategy aims to leverage Bitcoin as a significant asset within its corporate structure.

In the fourth quarter of 2024, Metaplanet’s BTC Yield— a measure of the amount of Bitcoin held per share—surged by 309.8%. However, the growth has slowed to 23.2% in early 2025 as the company increased its number of shares in circulation.

Capital Market Moves to Fuel Bitcoin Growth

Metaplanet continues to tap into capital market activities to fund its Bitcoin acquisitions. In January, the company issued 21 million stock acquisition rights to EVO FUND, managed by Evolution Capital Management. It followed up with a strategic early bond redemption in February, securing 4 billion yen ($26.5 million). These financial maneuvers ensure Metaplanet can sustain its Bitcoin-buying strategy while fueling further growth.

Since the company began purchasing Bitcoin in April 2024, its stock price has skyrocketed by over 3000%, making it the best-performing stock in Japan. To further broaden investor participation, Metaplanet announced a 10-to-1 stock split on February 18, which will take effect on April 1, 2025. This move aims to make its shares more accessible to a broader pool of investors. The decision follows a reverse stock split in August 2024, which consolidated ten shares into one as the company sought to streamline its stock price.

Metaplanet Sets a New Template for Corporate Bitcoin Integration

Metaplanet’s success story may offer a blueprint for other companies considering incorporating Bitcoin into their balance sheets. With Japan’s progressive stance on cryptocurrency, Metaplanet’s strategic focus on Bitcoin as both a financial asset and a growth engine positions it as a potential model for others in the business world.

As Japan continues to take an open-minded approach toward digital currencies, Metaplanet’s innovative use of Bitcoin could inspire other firms to explore similar strategies, particularly those looking to hedge against inflation or build long-term wealth. With its continued investment in Bitcoin and commitment to enhancing shareholder value, Metaplanet is positioning itself as a leader in corporate cryptocurrency adoption.

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Elon Musk has reignited an old conspiracy theory regarding the gold reserves at Fort Knox, fueling a debate about transparency and the future of U.S. gold holdings. In a recent post, Musk questioned whether the U.S. Treasury’s $425 billion worth of gold is still securely stored at the facility, suggesting that it might be time for a live, public audit of the fabled gold vault.

The controversy surrounding Fort Knox dates back decades. Musk’s statement followed a comment from Senator Mike Lee, who revealed that despite being a sitting senator, he had been repeatedly denied access to the depository. Musk responded by asserting that the American public was the rightful owner of the gold and called for someone to confirm whether the precious metal is still there.

The lack of transparency surrounding Fort Knox has led to widespread skepticism. While the U.S. government regularly publishes reports on the amount of gold in storage, these reports have been criticized for not providing enough evidence of actual reserves. The last public inspection of Fort Knox took place in 1974, sparking renewed interest in the facility’s security, and many have questioned the veracity of the official records ever since.

Does Fort Knox Undergo Regular Audits?

While it is true that the U.S. government conducts audits, these are often not as public as many would like. The last time a full public audit was conducted was in 1974, when a group of Congress members and journalists were allowed to visit Fort Knox. However, since then, the doors have remained closed, with only private inspections allowed. The most recent visit took place in 2017 when Treasury Secretary Steven Mnuchin was granted permission for a private tour, which included a controversial solar eclipse viewing but lacked transparency.

Critics argue that this lack of openness has fueled suspicions. The U.S. government has yet to provide solid evidence to dispel conspiracy theories claiming that gold may be missing from Fort Knox. But despite the absence of direct evidence, the restrictions and limited visibility continue to leave room for doubt.

Bitcoin and the Fort Knox Debate

The idea of verifying Fort Knox’s gold reserves has also sparked discussions about the future of money and the potential advantages of Bitcoin. Musk’s concerns have intersected with the growing crypto movement, as more advocates argue that Bitcoin could serve as a more transparent and verifiable store of value than traditional gold.

Bitcoin supporters emphasize that unlike gold, Bitcoin’s ownership is easily verifiable on the blockchain. Bitcoin can be transferred instantly across borders, and its transparency allows anyone to independently verify the number of coins in circulation. In contrast, the Fort Knox gold reserves remain locked behind layers of bureaucracy and secrecy.

As Bitcoin becomes increasingly attractive as a financial asset, the debate about the U.S. government’s gold reserves and its potential plans to acquire Bitcoin has taken on new significance. As Musk and others have pointed out, Bitcoin’s open-source ledger eliminates the need for trust—because every transaction is visible and verifiable.

The U.S. and Gold as a Strategic Asset

The growing discussion around Fort Knox and Bitcoin is also tied to broader questions about the U.S. government’s financial strategy. Bernstein analyst Gautam Chhugani suggested that the U.S. may eventually need to sell off some of its gold reserves to fund the purchase of Bitcoin for a national reserve.

If the U.S. were to establish a “Strategic Bitcoin Reserve,” it would likely require significant funding. According to Chhugani, this could mean selling gold or issuing debt, both of which would create financial challenges for the government.

This possibility has fueled the concerns of many Bitcoin enthusiasts, who see gold’s role in the future as increasingly uncertain. With Bitcoin’s growing popularity, some believe the U.S. government may need to part with some of its gold holdings to stay competitive in a rapidly changing global economy.

Musk and Trump Weigh In

Musk’s concerns didn’t go unnoticed by former President Donald Trump. On February 20, Musk shared a clip of Trump, where he said, “We’re going to inspect the fabled Fort Knox to make sure the gold is there. If the gold isn’t there, we’re gonna be very upset.”

While Trump’s comment was likely made in jest, it highlighted the growing attention on the Fort Knox gold reserves and the broader conversation about the U.S.’s financial future. Could a public audit of Fort Knox be the next step? For now, it’s clear that both Musk and Trump believe that transparency is necessary to ensure the public can trust the U.S. government’s handling of its precious assets.

Conclusion

Musk’s recent remarks about Fort Knox have once again brought the gold reserve into the public spotlight, sparking debates about transparency, accountability, and the future of financial reserves. As discussions continue, the growing popularity of Bitcoin is forcing more people to reconsider traditional notions of wealth storage and security. Whether or not Fort Knox is holding the gold it claims, the real question may be whether the U.S. government can maintain its financial credibility in an increasingly decentralized and transparent world.

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Google is working on making Bitcoin easier to use, directly integrating it into the Google ecosystem.

At the Hong Kong Bitcoin Tech Carnival on February 18, 2025, Google Web3 specialist Kyle Song shared exciting news about the tech giant’s plans to make Bitcoin more accessible to everyday users. The company has been working for over a year on integrating Bitcoin into its vast ecosystem, aiming to lower the barriers for Web2 users and make Bitcoin usage as seamless as existing Web2 payment systems.

Google’s Plan for Bitcoin Integration
According to Song, Google is creating a solution that allows users to access and manage Bitcoin wallets through their Google accounts. This means that people who are already accustomed to using Google services will soon be able to interact with Bitcoin without needing a separate crypto wallet. Song explained that the goal is to make Bitcoin payments as intuitive and user-friendly as current Web2 payment solutions.

Another key focus for Google is ensuring robust security within its integration. To build trust and ensure the reliability of on-chain and off-chain interactions, Google plans to incorporate advanced encryption technologies, such as Zero-Knowledge Proofs (ZKPs). These protocols aim to protect user privacy and secure crypto transactions within the Google ecosystem.

What Does This Mean for Bitcoin Adoption?
While Song’s presentation was not an official announcement, the implications are potentially huge for Bitcoin’s mainstream adoption. With billions of active Google users worldwide, integrating Bitcoin into Google’s services could drastically change how people perceive and interact with cryptocurrency. If users can easily buy, trade, and spend Bitcoin directly from their Google accounts, the accessibility of crypto could grow exponentially.

The integration of Bitcoin with Google Pay, for instance, could open the door to massive crypto circulation, making it easier for users to use Bitcoin in everyday transactions. This may lead to more widespread use of Bitcoin and cryptocurrency, especially among people who are unfamiliar or hesitant about using traditional crypto exchanges or wallets.

Challenges and Previous Setbacks
That said, this move by Google could face several obstacles. Major tech companies have tried to integrate cryptocurrencies into their services in the past, only to back out when faced with regulatory and political pushback. For instance, Facebook’s Libra and Telegram’s Gram were ambitious projects that ultimately failed due to intense government scrutiny and regulatory hurdles.

However, the environment in 2025 is different from 2020. Cryptocurrency has gained much more recognition, especially with the approval of Bitcoin ETFs, which have legitimized the asset class and made it easier for institutional investors to engage with crypto. Many view Bitcoin ETF approval as a critical turning point that could pave the way for more mainstream adoption.

Why Google’s Approach Could Succeed
Unlike Facebook and Telegram’s attempts, Google’s push comes in a much more favorable climate. Bitcoin ETFs, especially the rapid success of BlackRock’s Bitcoin ETF, have made it easier for large institutions to invest in crypto, which has helped reduce the political and legislative challenges. Additionally, the political environment surrounding cryptocurrency is less hostile compared to when Facebook and Telegram faced regulatory pressure, with greater legal clarity now surrounding Bitcoin investments.

As Cameron Winklevoss, co-founder of Gemini Exchange, pointed out, the Facebook Libra shutdown was politically motivated. In contrast, today’s approval of Bitcoin ETFs shows a more open approach to crypto integration, which bodes well for Google’s ambitions.

The Role of Bitcoin ETFs
Bitcoin ETFs have become a crucial element in bridging the gap between traditional finance and the crypto world. By offering a regulated framework for Bitcoin investments, these ETFs have enabled large corporations and institutional investors to enter the market without navigating the complex regulatory landscape themselves. The success of BlackRock’s Bitcoin ETF is a testament to this transformation, further validating the idea that Bitcoin can coexist within mainstream financial systems.

The Future of Bitcoin in Google’s Ecosystem
If Google’s plans come to fruition, it could be a game-changer for crypto adoption. By making Bitcoin easily accessible through Google accounts, the company would not only bring crypto into the lives of billions of people but also help redefine how we think about cryptocurrencies and their role in the global economy.

The timing for this initiative is crucial, as Bitcoin has become more established, and its integration into platforms like Google could signal the beginning of a new phase for crypto adoption. Only time will tell if Google will succeed where others have failed, but given the current landscape, the potential for success is higher than ever.

As the integration of Bitcoin into Google’s ecosystem progresses, it could help solidify crypto’s place in mainstream finance, bringing us closer to a world where digital currencies are as easy to use as traditional ones.

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Metaplanet, a Japanese investment firm known for its Bitcoin-focused strategy, saw its shares drop by 8.41% on over-the-counter markets after the company announced a 10-for-1 stock split. The decision, approved by the board, aims to increase the number of shares in circulation and lower the price per share, making the stock more accessible to a broader range of investors.

In a notice issued on February 18, Metaplanet explained that the stock split is designed to improve liquidity and attract more investors. The firm emphasized its goal to lower the price per unit of stock, thereby making it easier for smaller investors to buy shares while also strengthening its relationship with a wider pool of shareholders.

“we have decided to conduct a stock split to lower the price per trading unit, thereby improving liquidity, expanding our investor base, and strengthening our connection with a broader range of shareholders”, Metaplanet stated.

The announcement follows a reverse stock split in August 2024, when Metaplanet consolidated 10 shares into one, raising the share price significantly. While this move helped to boost the stock’s value, it also made the shares more expensive for potential investors. Since pivoting to a Bitcoin-focused strategy, the firm’s stock price has surged by an astonishing 3,600%, driven in part by Metaplanet’s growing Bitcoin holdings. The company now holds 1,762 Bitcoins, with plans to accumulate up to 21,000 BTC, positioning it as one of Asia’s leading cryptocurrency investments.

To lower the entry barrier for investors, the company has decided to split each share into 10, effective April 1. Shareholders recorded on March 31 will receive the additional shares. This will increase the total number of issued shares from approximately 39 million to nearly 392 million.

Along with the stock split, the exercise price for stock acquisition rights will be adjusted. For example, the price for the 13th to 17th series of stock acquisition rights will decrease from 5,555 yen to 556 yen.

Metaplanet clarified that the stock split will not impact the company’s stated capital, emphasizing that the move is purely designed to improve liquidity and broaden its investor base.

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Japanese investment firm Metaplanet has announced a strategic addition of 269.43 Bitcoin to its treasury, marking a significant step in its ongoing Bitcoin accumulation strategy. The purchase, valued at $25.6 million, was made at an average price of $95,000 per BTC, increasing Metaplanet’s total Bitcoin holdings to 2,031.41 BTC. With the latest acquisition, the firm’s Bitcoin reserves are now worth approximately $159 million, reflecting an average purchase price of $78,000 per Bitcoin.

This move is part of Metaplanet’s broader strategy to use Bitcoin as a core treasury asset, following a model similar to that of Strategy (formerly known as MicroStrategy), the U.S.-based business that has been at the forefront of institutional Bitcoin adoption. Metaplanet has positioned Bitcoin Yield as a key performance metric, measuring the value of its Bitcoin holdings relative to its fully diluted shares. For Q1 2025, the firm reported a BTC Yield of 15.3%, a notable increase from a sharp 309.8% rise in late 2024.

Metaplanet’s Bitcoin accumulation strategy has been aggressive, particularly since mid-2024, when its holdings were just 141 BTC. By the close of the year, the firm had grown its Bitcoin reserves to over 1,760 BTC, positioning it as one of the largest institutional Bitcoin holders in Japan. The latest purchase further strengthens its standing in the market and underscores its commitment to Bitcoin as a store of value.

The firm’s strategy mirrors that of Strategy, which has been a prominent advocate for corporate Bitcoin accumulation. As of February 17, Strategy holds over 140,000 BTC, with unrealized profits exceeding $14.85 billion. Despite experiencing significant volatility—particularly in Q4 2024, when it reported a loss of $670.8 million due to a $1.01 billion impairment charge on its Bitcoin holdings—Strategy continues to lead the charge, making a long-term bet on Bitcoin’s potential growth.

Metaplanet, inspired by Strategy’s example, intends to continue its Bitcoin acquisitions and has outlined a target of reaching 10,000 BTC by the end of 2025. The firm’s continued expansion comes at a time when Japan is maintaining strict crypto regulations, yet Metaplanet’s commitment to the asset is clear. As the institutional Bitcoin narrative evolves, Metaplanet’s growing stake in Bitcoin is positioning it as a key player in the global digital asset market.

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An illegal Bitcoin mining operation was uncovered in a residential house in Malaysia following an explosion, further highlighting the growing issue of electricity theft linked to illicit crypto mining.

On February 13, authorities were alerted to an explosion and smoke coming from a house in Kuala Lumpur. According to the Malay Mail, local firefighters responded to the emergency after a resident reported the incident. Upon arrival, they discovered a room with modified electrical wiring that had sparked a fire.

Once the fire was extinguished, officials found multiple Bitcoin mining rigs and related equipment. Investigators confirmed that the operation had been illegally siphoning electricity. Authorities have since launched an investigation and are urging the public to come forward with any relevant information.

Malaysia’s Growing Bitcoin Mining Problem

Illegal Bitcoin mining, which involves stealing electricity to power high-performance computers that solve complex algorithms and generate Bitcoin, has become a widespread issue in Malaysia. In October 2024, the country’s national electricity provider, Tenaga Nasional Berhad (TNB), reported losses exceeding 440 million ringgit (approximately $101 million) due to electricity theft. Between 2018 and 2023, illegal crypto mining operations cost TNB a staggering $755 million.

A Global Concern

The rise of illicit Bitcoin mining isn’t limited to Malaysia. In Iran, unauthorized crypto mining was a major contributor to power shortages during the extreme summer heat of 2024. Authorities uncovered 230,000 illegal mining rigs consuming approximately 900 megawatts of electricity—equivalent to the energy use of a province with 1.4 million residents. Many of these operations were found in schools and mosques, which benefit from subsidized electricity.

Venezuela has also taken action against the issue. In May 2024, the government imposed a nationwide ban on crypto mining to protect its struggling power grid from excessive energy consumption.

As illegal mining operations continue to strain national power supplies, governments worldwide are ramping up efforts to combat electricity theft and enforce stricter regulations on cryptocurrency mining.

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BNB Chain has outlined its bold technology roadmap for 2025, aiming to revolutionize the blockchain ecosystem by integrating artificial intelligence (AI), boosting scalability, and tackling long-standing security challenges. The roadmap details the network’s plans to incorporate AI-driven smart contract automation, scale transaction capacity to 100 million transactions per second (TPS), and implement stronger defenses against maximal extractable value (MEV) exploits.

AI at the Core of BNB Chain’s 2025 Roadmap

The BNB Chain, originally developed by Binance, has set its sights on reducing transaction latency to sub-second speeds while introducing gasless transactions to enhance user experience. In addition, the blockchain aims to scale to a capacity capable of processing up to 100 million transactions daily, positioning itself for future demand in the rapidly growing blockchain space.

A key component of BNB Chain’s strategy is its focus on AI. Last month, the platform launched an AI Agent development solution, enabling automated on-chain decision-making, and also introduced Four.Meme, a platform that simplifies the creation of meme coins. These developments lay the foundation for the more ambitious AI initiatives coming in 2025.

Smart Contract Automation and AI Tools for Developers

One of the standout features of BNB Chain’s upcoming roadmap is the integration of AI into smart contract development. The introduction of Code Copilot, an AI-driven assistant, will help developers deploy contracts more efficiently by automating various aspects of the process. This will significantly reduce the complexity of smart contract creation and help streamline operations across the network.

Additionally, AI-powered DataDAOs are expected to create a new model for monetizing private datasets. These decentralized autonomous organizations will incentivize data contributions while ensuring stronger security for sensitive information, addressing key concerns around data privacy and integrity.

Tackling MEV Exploits with Stronger Security Measures

Alongside its ambitious scalability and AI initiatives, BNB Chain is also focused on enhancing security, particularly around MEV-related exploits. Maximal extractable value (MEV) refers to the additional profits that validators can extract by manipulating transaction orders, often through techniques like front-running trades. This has been a growing concern for BNB Chain users, especially given the significant losses due to MEV attacks.

In 2024 alone, BNB Chain users lost an estimated $1.5 billion to MEV exploits, with sandwich attacks being a primary method. These attacks allow malicious actors to manipulate the order of transactions to profit at the expense of users. In response, BNB Chain is actively working on solutions to reduce the impact of such exploits, with growing pressure from the community to take stronger action.

Binance founder Changpeng Zhao recently conducted a poll on X (formerly Twitter), asking users whether the network should intensify its efforts to combat MEV attacks. This growing feedback from the community underscores the urgency of addressing these vulnerabilities.

Strong Market Reaction and Continued User Growth

The announcement of BNB Chain’s 2025 roadmap has already sparked significant market interest. Following the reveal on February 11, BNB coin saw a near 10% surge. However, as of February 12, the price stabilized at around $627.

The network’s efforts to improve scalability and security come amid surging user activity. According to a recent post by Whale Insider, BNB Chain has surpassed 500 million unique active addresses—a milestone reflecting the platform’s increasing adoption. This growth coincided with the launch of TST, a test token created by BNB Chain’s team for educational purposes. Although intended solely for demonstration on the Four.Meme launchpad, the token sparked considerable speculation and boosted trading activity, likely contributing to the rise in active addresses.

Looking Ahead: The Future of BNB Chain

As BNB Chain continues to advance its AI-first strategy, the coming months will be pivotal in determining how effectively these proposed upgrades translate into tangible improvements. The network’s commitment to enhancing scalability, reducing transaction costs, and ensuring robust security could position it as a leader in the blockchain space, particularly as the demand for fast, secure, and efficient blockchain networks grows.

With AI, automation, and scalability at the forefront of its 2025 vision, BNB Chain is clearly preparing for the future of decentralized technologies—and it will be interesting to see how these ambitious goals unfold in the years ahead.

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As the U.S. government moves toward making the country a global leader in cryptocurrency, major Wall Street banks are stepping up their efforts to secure initial public offering (IPO) deals with crypto firms. According to a Bloomberg report, banks such as Morgan Stanley, Bank of America, and the Royal Bank of Canada are increasingly focused on expanding their crypto portfolios, with several exchanges considering going public in the near future.

The growing interest in crypto IPOs comes at a time when major exchanges like Gemini and Bullish are weighing the possibility of public listings. Kraken and Circle, a prominent stablecoin issuer, have also previously explored the option of going public.

This surge in activity is driven by expectations of more favorable regulations for cryptocurrency businesses under the Trump administration. At the Bitcoin 2024 Conference, former President Donald Trump reiterated his commitment to making the U.S. the “crypto capital of the planet” if re-elected, signaling a potential shift in policy that could create a more welcoming environment for crypto firms to list on U.S. exchanges.

Banks Eager for Crypto-Driven IPO Opportunities

Morgan Stanley is already taking steps to attract crypto clients, while Bank of America is reportedly preparing for more crypto-related deals, though specifics remain under wraps. Meanwhile, the Royal Bank of Canada is seeking to diversify its offerings by expanding into the crypto space. As crypto firms look toward public markets, these banks are positioning themselves to capitalize on the potentially lucrative IPO opportunities that lie ahead.

Crypto Exchanges Eyeing Public Listings

Bullish, which had originally planned a $9 billion SPAC (special purpose acquisition company) deal with Far Peak Acquisition in 2022, is now reconsidering its path to the public markets. The exchange’s former CEO, Brendan Blumer, explained that the delay in the SPAC deal was due to the lengthy process, which ultimately led to the decision to walk away from the deal. However, with the regulatory landscape shifting and growing interest from institutional investors, crypto firms are again looking toward IPOs as a viable exit strategy.

Klarna’s Crypto Expansion Ahead of Its Own IPO

In addition to crypto exchanges, other fintech giants are pushing into the crypto space. Swedish payments company Klarna, which is preparing for its own IPO later this year, has signaled its intention to integrate cryptocurrency services into its platform. CEO Sebastian Siemiatkowski has shared plans on social media to expand Klarna’s offerings to include crypto, potentially adding a new dimension to the fintech’s business ahead of its highly anticipated listing. Klarna’s IPO could reach a $15 billion valuation, making it one of the biggest offerings of 2025.

With Wall Street banks actively eyeing crypto deals and the regulatory environment poised to shift, the coming months could see a surge in crypto-related IPO activity, as both traditional financial institutions and innovative crypto firms look to capitalize on the growing sector.

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