Crypto Reporter

In a landmark move signaling its commitment to cryptocurrency, Trump Media and Technology Group, the operator of Truth Social, Truth+, and Truth.Fi, has announced a private placement offering that will raise approximately $2.5 billion to establish a significant Bitcoin treasury. The deal, one of the largest Bitcoin treasury acquisitions by any public company, underscores Trump Media’s ambition to expand its influence within the digital economy while aligning with its “America First” principles.

The financing includes approximately $1.5 billion in common stock sold at the last market price and $1 billion in 0.00% convertible senior secured notes issued at a conversion price reflecting a 35% premium. The Offering is expected to close on or around May 29, 2025, pending customary closing conditions. Proceeds from the transaction will be used exclusively for acquiring Bitcoin, which will join the company’s existing balance sheet assets, including $759.0 million in cash, cash equivalents, and short-term investments as of the first quarter of 2025.

This bold step marks the culmination of Trump Media’s previously announced special acquisition fund, designed to facilitate growth through mergers, acquisitions, and strategic investments. According to CEO and Chairman Devin Nunes, the decision to build a Bitcoin treasury reflects the company’s belief in Bitcoin as an “apex instrument of financial freedom.”

“Our first acquisition of a crown jewel asset, this investment will help defend our Company against harassment and discrimination by financial institutions, which plague many Americans and U.S. firms,” Nunes stated. He added that integrating Bitcoin into Trump Media’s operations would create synergies across its platforms, particularly for subscription payments, utility tokens, and other planned transactions within Truth Social and Truth+.

The move also represents a pivotal shift in Trump Media’s evolution toward becoming a diversified holding company focused on acquiring profit-generating assets aligned with its mission. By adding Bitcoin to its balance sheet, the company aims not only to bolster its financial resilience but also to position itself as a leader in the burgeoning digital asset space.

A Strategic Play in the Crypto Market

Trump Media’s entry into the Bitcoin treasury space comes amid growing institutional interest in cryptocurrencies. Companies like MicroStrategy have pioneered the trend of accumulating Bitcoin as a core asset, often citing its potential as a hedge against inflation and currency devaluation. Analysts suggest that Trump Media’s embrace of Bitcoin could attract investors seeking indirect exposure to the cryptocurrency without directly managing digital wallets.

The scale of the Offering—$2.5 billion—places Trump Media among the most prominent corporate adopters of Bitcoin. Custody services for the Bitcoin treasury will be provided by Crypto.com and Anchorage Digital, two leading names in the crypto custody industry known for their robust security measures and institutional-grade infrastructure.

Institutional Support and Advisory Roles

To execute the Offering, Trump Media partnered with several high-profile financial firms. Yorkville Securities, LLC and Clear Street LLC served as Co-lead placement agents, while BTIG, LLC and Cohen & Company Capital Markets acted as Co-placement agents. Cantor Fitzgerald & Co. provided financial advisory services, ensuring the structuring and execution of the Offering aligned with best practices for such transactions.

Legal counsel was equally comprehensive, with Nelson Mullins Riley & Scarborough LLP advising Trump Media and Reed Smith LLP representing the Placement Agents. This collaboration highlights the complexity and significance of the deal, reinforcing confidence in its execution and long-term viability.

Implications for Trump Media’s Future

By amassing a substantial Bitcoin treasury, Trump Media is making a clear statement about its vision for the future of finance and technology. Beyond its symbolic value, the acquisition serves practical purposes, including shielding the company from perceived biases in traditional financial systems and enabling innovative payment solutions across its platforms.

Truth Social, the company’s flagship social media platform, stands to benefit significantly from these developments. Integrating Bitcoin into its ecosystem could enhance user engagement and monetization opportunities, particularly if subscription models or utility tokens are introduced. Similarly, Truth+, the streaming service, and Truth.Fi, the fintech division, may leverage the treasury to offer new products and services tailored to the evolving demands of the digital economy.

Aligning with Broader Trends

Trump Media’s pivot toward Bitcoin aligns with broader trends reshaping the financial landscape. As more companies explore ways to incorporate digital assets into their operations, the distinction between traditional finance and decentralized technologies continues to blur. For Trump Media, this transition offers both challenges and opportunities, requiring careful navigation of regulatory environments and market dynamics.

Critics might question whether the company’s aggressive push into crypto represents a calculated strategy or a speculative gamble. However, proponents argue that the move positions Trump Media at the forefront of a transformative era, where blockchain-based innovations redefine how businesses interact with customers and stakeholders.

Conclusion

With this $2.5 billion initiative, Trump Media and Technology Group has cemented its place as a major player in the crypto economy. By building one of the largest corporate Bitcoin treasuries, the company is not only diversifying its asset base but also laying the groundwork for future growth and innovation. Under the leadership of CEO Devin Nunes, Trump Media aims to harness the power of Bitcoin to achieve greater financial independence, foster technological advancement, and uphold its commitment to “America First” values. As the project unfolds, all eyes will be on Trump Media to see whether it can translate this ambitious vision into sustained success.

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In a wide-ranging interview, The Hashgraph Association President of the Board of Directors Kamal Youssefi discusses enterprise governance, scaling Hedera’s ecosystem, stablecoin infrastructure, and the strategic future of blockchain regulation.

As blockchain networks seek broader institutional relevance, The Hashgraph Association (THA) has emerged as a driving force behind Hedera’s structured push into enterprise-grade distributed ledger technology. Crypto Reporter spoke with THA President Kamal Youssefi during Token2049 in Dubai to unpack the Association’s global strategy – from funding models and developer tools to regulatory engagement and venture investments.

CR: What long-term role do you see The Hashgraph Association playing in driving institutional adoption of distributed ledger technology?

Kamal Youssefi: Our strategy is built around five pillars: education, transformation, innovation, incubation, and acceleration. These translate into four core objectives: enablement through training and certifications; ecosystem funding via a $5 billion development fund; structured acceleration programs across verticals like sustainability, on-chain finance, and loyalty; and global scaling through partnerships with tech providers, integrators, consulting firms, and academic institutions. We also foster cross-pollination between startups and enterprises – sometimes connecting early-stage teams with members of our Governing Council, which includes firms like Google, IBM, and Standard Bank.

CR: You were part of the original Hedera Governing Council setup. How do you view the balance between decentralization and enterprise governance?

Kamal Youssefi: Decentralization alone is not sufficient for highly regulated sectors. Governance is essential. That’s why Hedera operates as a public-permissioned network: anyone can access it, but node validators are trusted institutions. This model delivers transparency while ensuring SLAs,compliance, and accountability. That balance is crucial to earning enterprise trust.

CR: The Stablecoin Studio SDK was recently launched. What challenge does it address?

Kamal Youssefi: It simplifies the deployment of stablecoins and eliminates the need for builders to start from scratch. We’re providing plug-and-play SDKs – not just for stablecoins but also for identity, asset tokenization, and wallets. It reduces complexity and accelerates go-to-market timelines, especially for startups.

CR: From a developer or enterprise standpoint, what makes Hedera a preferred DLT for tokenized assets?

Kamal Youssefi: Hedera isn’t blockchain – it’s DLT based on the Hashgraph consensus algorithm. We offer five key differentiators: performance (10,000+ TPS), security (ABFT consensus), governance (via reputable council members), price stability (microtransaction costs in USD), and sustainability (carbon-negative operations). Together, these create an enterprise-grade infrastructure.

CR: Your collaboration with KPMG India targets the enterprise sector. Where do you see traction?

Kamal Youssefi: We’re seeing demand in digital identity, tokenization, payments, and supply chain solutions. India is a high-growth market. KPMG provides the business expertise and local regulatory navigation, while we bring in the technology layer. We’re also working with Nazara Technologies on gamified loyalty programs.

CR: How does THA differentiate itself from other blockchain foundations?

Kamal Youssefi: Unlike traditional foundations, we offer co-ownership and strategic input via an association model. We also deliver hands-on support – from engineering and security audits to equity investment. Post-acceleration, we promote top projects to VC funds, sovereign wealth partners, and even provide follow-on funding of up to $2 million.

CR: The $100M Web3 Fund under ADGM is a milestone. What’s your investment thesis?

Kamal Youssefi: It focuses exclusively on Hedera-based startups that graduate from our programs. Priority areas include sustainability, on-chain finance (DeFi, RWA), and consumer engagement. We provide a funding continuum – from grants to venture investment – with a clear scale-up path from MVP to Series A readiness.

CR: Why Abu Dhabi and ADGM?

Kamal Youssefi: ADGM offers regulatory clarity and proximity to regional capital. Investors here show strong appetite for digital assets, and Abu Dhabi is evolving into a hub for financial innovation.

CR: How do you handle compliance in markets with uncertain crypto regulation?

Kamal Youssefi: We work with legal partners like Dentons and DLA Piper and proactively engage regulators to explain our tech. For example, in Morocco and Qatar, we conducted workshops and helped distinguish between DLT as infrastructure and crypto assets as financial instruments. This educational approach has been key to building regulatory trust.

CR: What will validate Hedera’s positioning in Web3 over the next 12-18 months?

Kamal Youssefi: Three indicators: number of active network accounts, transaction volume – we processed up to 200 million per day – and total value represented (TVR) on-chain. Hedera’s progress in DeFi, tokenized assets, and enterprise adoption will reinforce its relevance across Web3.

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President Donald Trump is set to host a private dinner at his Washington-area golf club for the top holders of his recently launched cryptocurrency, according to an announcement posted Wednesday. The event, described as an “intimate private” dinner, will feature discussions on the future of cryptocurrency.

The gathering is open to the top 220 average holders of the “$TRUMP” meme coin from April 23 to May 12. The top 25 holders will receive additional access, including a VIP reception and a special tour. Initially, the event page referenced a “Special VIP White House Tour,” but that mention was later removed.

Trump’s meme coin, launched just days before his January inauguration, has been promoted by a company in which he holds a significant stake. Following the announcement of the dinner, the price of the $TRUMP coin experienced a surge.

The Trump family’s involvement in crypto extends beyond the meme coin. Last year, Trump’s sons launched World Liberty Financial, a company developing a dollar-pegged stablecoin. These ventures could benefit from pending crypto-friendly legislation in Congress, although some lawmakers, including House Financial Services Chair French Hill, have indicated that Trump’s business ties to crypto have complicated the legislative process.

In March, Trump signed an executive order to create a federal “strategic reserve” of cryptocurrency assets seized through law enforcement actions.

A disclaimer on the dinner event page notes that it is organized by Fight Fight Fight LLC, and clarifies that Trump is participating as a guest without soliciting funds. Promotional material for the event encouraged increased investment in the $TRUMP token to secure a seat at the dinner.

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The U.S. Department of Justice (DOJ) is dismantling its National Cryptocurrency Enforcement Team (NCET), marking a significant policy shift in its approach to regulating the cryptocurrency industry. This change comes as part of the Trump administration’s broader push to recalibrate U.S. regulatory priorities, aligning them with its stance on reducing oversight of the digital asset sector.

Deputy Attorney General Todd Blanche confirmed that the DOJ would no longer pursue complex crypto-related enforcement actions tied to banking and securities law. Instead, the department will target criminal activities that use digital assets, such as fraud, money laundering, and the financing of illegal activities like human trafficking and terrorism. Blanche stated in a memo to prosecutors, “The Department of Justice is not a digital assets regulator,” emphasizing the department’s move away from regulating the cryptocurrency market.

The decision follows a broader trend during the Trump administration to scale back regulatory actions on the crypto industry, a sector that has received considerable support from the administration. This shift contrasts with the Biden administration’s aggressive stance, which had utilized the DOJ and other agencies to crack down on crypto-related crimes. Under Biden’s tenure, the NCET was established to focus on entities such as exchanges, mixers, and wallet providers that could facilitate illicit activities. However, with the new directive, these entities will no longer be held accountable for actions stemming from their users or regulatory lapses.

While critics argue that this shift could reduce consumer protection, supporters, including privacy and crypto advocacy groups, see it as a step toward fostering a more business-friendly environment. The disbandment of NCET and the cessation of crypto enforcement by the Market Integrity and Major Frauds Unit are effective immediately, allowing the DOJ to redirect its focus to other priorities, such as immigration and procurement fraud.

This policy shift is expected to influence the broader regulatory landscape, with some industry experts viewing it as a potential opportunity for the crypto industry to grow with fewer governmental constraints.

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The European Securities and Markets Authority (ESMA) has issued a cautionary statement regarding the potential risks cryptocurrencies pose to financial stability as their market ties with traditional financial systems increase. Although the crypto market remains relatively small, ESMA’s warning highlights concerns that significant growth and integration with established financial sectors could lead to broader systemic issues.

ESMA executive director Natasha Cazenave addressed the European Parliament, emphasizing that while the cryptocurrency market’s current size does not present an immediate threat to the EU’s financial stability, continued monitoring is essential. “Crypto-assets markets are still comparatively small,” Cazenave stated, “However, in the current market environment, turmoil even in small markets can catalyse broader stability issues in our financial system.”

The warning comes amidst growing geopolitical tensions, with the EU financial markets facing pressure from global developments, including the impact of U.S. economic policies. Despite these concerns, Cazenave reassured that the risks were not yet significant, noting that funds focused on crypto comprise less than 1% of the EU fund universe. Additionally, 95% of EU banks do not engage in crypto activities.

The statement follows a broader trend of U.S. regulators easing restrictions on the involvement of traditional banks in crypto activities. Recently, the U.S. Justice Department announced the disbanding of its National Cryptocurrency Enforcement Team, which had been responsible for addressing illicit activity in the crypto space.

ESMA’s concerns are particularly focused on stablecoins, which, if destabilized, could have wider market repercussions due to their linkage to other financial assets. As the crypto sector continues to expand, ESMA has called for enhanced vigilance to mitigate potential risks that may arise as the industry becomes more intertwined with traditional financial markets.

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PayPal is expanding its cryptocurrency footprint by adding two new tokens—Chainlink (LINK) and Solana (SOL)—to its trading platform, as part of its ongoing strategy to position itself as a key player in the digital asset ecosystem.

Starting now, eligible U.S. users can buy, sell, hold, and transfer both tokens through PayPal and its standalone app Venmo. The move signals a deepening commitment by the payments giant to diversify its crypto offerings beyond the original four—Bitcoin, Ethereum, Litecoin, and Bitcoin Cash—first introduced in 2020.

Solana, known for its fast transaction speeds and low fees, has gained popularity among developers building decentralized applications and NFT platforms. Chainlink, on the other hand, serves as a decentralized oracle network, allowing smart contracts to access off-chain data, making it a backbone for decentralized finance (DeFi).

PayPal has steadily ramped up its crypto efforts over the past year, launching its own stablecoin, PayPal USD (PYUSD), in 2023. PYUSD is integrated with MetaMask and can be used across PayPal and Venmo, adding a layer of utility to the firm’s digital asset ecosystem.

The addition of LINK and SOL also comes amid rising retail interest in crypto and mounting pressure on traditional fintech firms to offer more Web3 functionality. By embracing a wider range of tokens, PayPal appears determined to maintain relevance in a rapidly evolving space—while offering its over 400 million users access to the expanding world of digital assets.

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Bitcoin is showing signs of resilience as U.S. equities extend their steep decline, raising fresh hopes among crypto investors that the digital asset is finally decoupling from traditional risk markets.

While the Nasdaq Composite has dropped 11% over two trading days—falling 6% on Thursday and another 5% by midday Friday—bitcoin is bucking the trend, rising about 1% in the past 24 hours and trading near $83,000. That’s just a 3.5% pullback since President Trump’s tariff announcement on Wednesday evening triggered a broad market sell-off.

Crypto equities, however, haven’t been spared. Shares of Coinbase, MicroStrategy, and several mining firms have all posted double-digit losses during the same stretch. In contrast, the broader digital asset market is showing relative strength, with the CoinDesk 20 Index rising, led by gains in XRP, Solana, and Cardano.

“Bitcoin has shown impressive resilience,” said David Hernandez, a crypto investment specialist at 21Shares, who views this behavior as reinforcement of bitcoin’s appeal as a macro hedge.

Geoff Kendrick of Standard Chartered noted that bitcoin, often correlated with tech stocks, tends to act as a market hedge during crises—as seen during the March 2023 banking panic. He now sees bitcoin also playing the role of a “U.S. isolation” hedge.

Still, some analysts attribute the price support to large corporate buyers. Fundstrat’s Sean Farrell pointed to potential multi-billion-dollar corporate treasury accumulation programs as driving current strength, while leaving room for a narrative shift if bitcoin sustains gains into the weekend.

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U.S. President Donald Trump has pardoned Arthur Hayes, the ex-CEO of cryptocurrency exchange BitMEX, along with his co-founders Samuel Reed and Benjamin Delo, senior employee Greg Dwyer, and the company’s operating entity, HDR Global Trading. The White House confirmed the pardons on Friday, which were signed by Trump on Thursday.

The pardon comes after the Department of Justice (DOJ) charged BitMEX, its founders, and Dwyer in 2020 for violating the Bank Secrecy Act (BSA). Prosecutors accused the exchange of allowing users to trade anonymously without proper know-your-customer (KYC) protocols. All four individuals pleaded guilty and received fines and probationary sentences. Hayes was sentenced to two years of probation, Delo to 30 months, Reed to 18 months, and Dwyer to 12 months.

Delo expressed gratitude for the pardon, stating it vindicated their stance that they were “wrongfully targeted” under an outdated law. He claimed BitMEX’s success made it a political scapegoat for inconsistent regulatory signals. Hayes, meanwhile, simply tweeted “thank you” on X (formerly Twitter).

Separately, the Commodity Futures Trading Commission fined BitMEX $100 million in 2021 for violations of the Commodity Exchange Act and other regulations. This penalty was unrelated to the DOJ settlements.

The BitMEX pardons follow Trump’s recent decision to pardon Trevor Milton, the former Nikola Motors CEO convicted of fraud, and Ross Ulbricht, the creator of Silk Road serving a life sentence. Former FTX CEO Sam Bankman-Fried is reportedly seeking a similar pardon, while ex-Binance CEO Changpeng “CZ” Zhao, who served time for a BSA violation, has denied pursuing one, though he acknowledged no felon would reject such an offer.

This latest move underscores Trump’s willingness to extend clemency to high-profile figures in the crypto and tech industries, reigniting debates over accountability and justice in financial crimes.

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President Donald Trump made a virtual appearance at the Digital Asset Summit in Manhattan on Thursday, delivering a pre-taped speech that reinforced his pro-crypto stance while stopping short of announcing new policies. Speaking to a standing room-only crowd, Trump hailed cryptocurrency as a transformative force capable of driving unprecedented economic growth.

“Crypto is as big as you can get,” Trump declared, praising the industry’s potential to revolutionize banking, payments, and privacy. He emphasized that crypto pioneers have the power to enhance security, safety, and wealth for American consumers and businesses, ultimately unleashing “an explosion of economic growth.”

The remarks come amid growing speculation about whether Trump would unveil new executive actions related to digital assets, such as addressing debanking or crypto taxation. However, the speech largely reiterated steps his administration has already taken since he began his second term in January 2025. These include halting the sale of seized bitcoin, convening industry leaders with government officials, and ending what he described as the “last administration’s regulatory war on crypto and Bitcoin.”

Trump specifically criticized Operation Choke Point, an initiative under previous administrations aimed at restricting financial services to certain industries, calling it “a disgrace.” He assured attendees that such measures are now over, signaling a sharp departure from the regulatory approach of the Biden administration.

Since reclaiming office, Trump has signed two executive orders related to digital assets and established a working group to guide policy development. His administration also created a Bitcoin reserve using previously seized assets, further solidifying his commitment to fostering the crypto ecosystem.

While no new announcements were made during Thursday’s address, Trump reiterated his vision for the U.S. to lead the global charge in adopting next-generation financial technologies. “It’s an honor to speak with you about how the United States is going to dominate crypto and the next generation of financial technologies,” he said. “And it’s not going to be easy, but we’re way ahead.”

The speech marked Trump’s second engagement with the crypto community, following a live campaign appearance at Bitcoin Nashville in 2024. Over the past year, he has actively courted the industry, earning both financial contributions and electoral support from key players within the crypto space. Through his recent executive actions and efforts to roll back prior regulations, Trump continues to position himself as a staunch ally of the burgeoning digital asset sector.

As the industry eagerly awaits further developments, Trump’s appearance at the summit underscored his administration’s determination to make the U.S. a global leader in crypto innovation.

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President Donald Trump announced the inclusion of XRP (Ripple), SOL (Solana), and ADA (Cardano) in a new U.S. Crypto Strategic Reserve, triggering a surge in their market value. The announcement, made on March 2, 2025, via social media, follows an executive order signed in January aimed at solidifying the country’s position as a leader in digital assets.

“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA,” Trump stated.  Following his remarks, the three cryptocurrencies saw significant gains, with broader market enthusiasm lifting other digital assets.

“And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum!” Trump added later.

Trump has actively courted the crypto industry since his 2024 election campaign, contrasting sharply with the Biden administration’s regulatory crackdown on the sector. However, despite initial optimism, crypto prices have declined in recent weeks, erasing much of the post-election rally.

Market analysts suggest that a sustained rebound will require clear regulatory guidance from the White House or signals of a more accommodative stance from the Federal Reserve. Legal experts remain divided on the logistics of the reserve’s formation, with some speculating it could be funded via the U.S. Treasury’s Exchange Stabilization Fund or assets seized in law enforcement actions.

Trump is set to host the first White House Crypto Summit on March 7, where further details on the reserve’s structure could emerge.

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In a devastating blow to the cryptocurrency industry, Bybit revealed on Friday that it had suffered a “sophisticated” attack resulting in the theft of over $1.5 billion worth of Ethereum (ETH) from one of its cold wallets. This unprecedented breach surpasses all previous crypto heists in scale, dwarfing even the Ronin Network ($624 million), Poly Network ($611 million), and BNB Bridge ($586 million) hacks.

The Attack: A Deceptive Manipulation

According to Bybit’s CEO Ben Zhou, the incident unfolded during a routine transfer process involving the exchange’s ETH multisig cold wallet. In what appeared to be a legitimate transaction moving funds to a warm wallet, attackers exploited a deceptive technique to alter the underlying smart contract logic while masking the signing interface. This allowed them to gain unauthorized control over the affected cold wallet and siphon off its contents to an unidentified address.

“This transaction was manipulated through a sophisticated attack that masked the signing interface, displaying the correct address while altering the underlying smart contract logic,” Bybit explained in a post on X. As a result, over 400,000 ETH and stETH tokens—worth more than $1.5 billion at the time—were transferred out.

Lazarus Group Tied to the Breach

Within hours of the hack, blockchain analysis firms Elliptic and Arkham Intelligence identified North Korea’s state-sponsored Lazarus Group as the likely perpetrator. Independent researcher ZachXBT further connected the Bybit hack on-chain to the Phemex hack, which occurred just last month, reinforcing suspicions of Lazarus involvement.

Google has previously described North Korea as “arguably the world’s leading cyber criminal enterprise,” with the Lazarus Group orchestrating dozens of high-profile cryptocurrency heists to fund the country’s sanctioned regime. Last year alone, Chainalysis estimated that Lazarus stole $1.34 billion across 47 crypto hacks, accounting for 61% of all illicitly obtained crypto during that period.

Elliptic noted that Lazarus follows a characteristic laundering pattern, exchanging stolen tokens for native blockchain assets like Ether to avoid asset freezes. Following the Bybit theft, hundreds of millions of dollars in stolen stETH and cmETH were swiftly converted into Ether. These funds were then routed through 50 different wallets within two hours before being shifted through exchanges like eXch to convert them into Bitcoin.

A New Phase in Cyberattacks

Check Point Research highlighted the growing sophistication of supply chain and user interface manipulation attacks, pointing out that this breach marks a new phase in attack methods. Instead of merely exploiting protocol mechanics, the attackers employed advanced social engineering techniques to deceive signers into approving malicious transactions.

“The recent incident with Bybit demonstrates how threat actors can manipulate legitimate transactions through the Gnosis Safe Protocol’s

execTransaction

function,” Check Point stated. “This underscores the critical vulnerability where multisig cold wallets are only as secure as the individuals responsible for signing transactions.”

TRM Labs corroborated these findings, attributing the hack with high confidence to the Lazarus Group based on substantial overlaps between addresses controlled by the Bybit hackers and those linked to prior North Korean thefts.

Market Reactions and Customer Assurance

News of the breach sent shockwaves through the crypto market, causing Ethereum’s price to plummet by over 4% as the stolen funds began being liquidated. Nearly $200 million worth of Lido Staked Ether (stETH) was sold within the first half-hour, exacerbating volatility.

To reassure customers, Zhou emphasized that all other cold wallets remain secure and that withdrawals are operating normally. He also announced that Bybit had secured a bridge loan from undisclosed partners to cover any unrecoverable losses and maintain operations. Despite these assurances, many users have rushed to withdraw their funds amid fears of potential insolvency.

Industry Implications and Lessons Learned

This record-breaking heist serves as a stark reminder of the vulnerabilities inherent in the cryptocurrency ecosystem. While cold wallets are traditionally considered safer due to their offline nature, this breach highlights the risks posed by human error and social engineering tactics.

“Cryptocurrency heists are on the rise due to the lucrative nature of their rewards, the challenges associated with attribution to malicious actors, and the opportunities presented by nascent familiarity with cryptocurrency and Web3 technologies among many organizations,” Mandiant warned last month.

As investigations continue, experts stress the importance of adopting stricter security measures and improving education around phishing threats and smart contract vulnerabilities. The Lazarus Group’s continued success underscores the need for global cooperation between law enforcement agencies, blockchain analytics firms, and exchanges to combat such sophisticated cybercriminal activities.

For now, the crypto community waits anxiously for updates on the investigation, hoping that lessons learned from this historic breach will pave the way for a more secure future. Until then, the Bybit hack stands as a sobering testament to the evolving nature of cybercrime in the digital age.

Sources: https://www.cnbc.com/2025/02/21/hackers-steal-1point5-billion-from-exchange-bybit-biggest-crypto-heist.html https://techcrunch.com/2025/02/21/crypto-exchange-bybit-says-it-was-hacked-and-lost-around-1-4-billion/ https://www.investing.com/news/cryptocurrency-news/bybit-suffers-major-hack-with-over-146-billion-in-ethereum-stolen-93CH-3884287 https://thehackernews.com/2025/02/bybit-confirms-record-breaking-146.html

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The United States may soon place bitcoin at the center of its financial strategy, with President Donald Trump’s administration considering its inclusion in a potential sovereign wealth fund. Brian Sacks, Trump’s crypto advisor, recently unveiled this proposal, highlighting bitcoin’s potential as a strategic reserve asset to strengthen America’s financial leadership.

Sacks outlined the idea during a cryptocurrency policy briefing, emphasizing bitcoin’s staying power and its utility as a hedge against inflation. “Bitcoin is no longer a fringe investment—it’s a foundational asset. Incorporating it into a sovereign wealth fund ensures the United States remains at the forefront of the global financial system,” Sacks stated.

This ambitious proposal echoes moves by other nations. El Salvador has already integrated bitcoin into its national reserves, and Switzerland and Bhutan have embraced crypto-friendly policies to enhance their fiscal positioning. However, the United States remains a step behind countries like Hong Kong and Germany in terms of regulatory clarity.

While the potential benefits are significant, challenges abound. Regulatory uncertainty and bitcoin’s notorious volatility pose significant risks. Sacks acknowledged the hurdles, urging policymakers to establish a clear framework for digital asset management. “This isn’t just about bitcoin—it’s about preparing America for a digital financial future,” he added.

As discussions continue, President Trump’s administration seems poised to redefine America’s approach to cryptocurrency. Whether bitcoin’s inclusion in a sovereign wealth fund materializes or not, it’s clear that the digital economy will play an increasingly central role in shaping the country’s financial strategies.

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U.S. President Donald Trump has signed an executive order creating a cryptocurrency working group to advance digital asset regulations in the United States. Announced on January 23, this initiative underscores the administration’s intention to position the U.S. as a global leader in the evolving digital economy. It follows Trump’s promise on the campaign trail and Tuesday’s SEC announcement that it was creating a taskforce to overhaul crypto policy.

The working group will include representatives from the Treasury Department, the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and other key agencies. It is tasked with fostering innovation in the cryptocurrency space while addressing critical issues such as fraud, cybersecurity risks, and ensuring market transparency.

Trump highlighted the importance of innovation in his announcement, aligning with the administration’s aim to reduce regulatory burdens and encourage technological advancements in blockchain and decentralized finance (DeFi).

This development follows significant global strides in crypto regulation. The European Union implemented its Markets in Crypto-Assets Regulation (MiCA) in 2024, establishing a robust framework for digital assets. The U.S. now aims to craft its own policies to remain competitive in the global financial landscape.

Industry leaders have welcomed the move, praising it as a positive step toward fostering innovation and attracting investment. The working group’s formation is expected to streamline crypto regulations, giving businesses clearer pathways to operate while bolstering consumer trust.

As the working group begins its deliberations, its outcomes are likely to shape the U.S. cryptocurrency market’s trajectory and reinforce the country’s position in the global crypto economy.

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The U.S. Securities and Exchange Commission (SEC) has announced the formation of a specialized task force to establish clearer regulations for cryptocurrencies. Under the leadership of Acting SEC Chair Mark Uyeda, the crypto regulatory task force aims to tackle key challenges in the rapidly evolving digital asset industry, including investor protection, market transparency, and the classification of digital assets.

The SEC has not specified a timeline for when the task force will deliver its recommendations. However, the initiative signals the agency’s commitment to addressing regulatory gaps as cryptocurrencies continue to gain prominence. The task force will collaborate with financial experts, legal advisors, and technologists to navigate the complexities of emerging financial innovations like decentralized finance (DeFi) platforms and stablecoins.

In its announcement, the SEC highlighted the importance of balancing innovation with accountability. The agency’s approach reflects an ongoing effort to provide greater regulatory clarity to foster responsible market growth and protect investors.

This initiative comes amid heightened scrutiny of the crypto industry, following the collapse of major firms and rising concerns over fraud and market instability. While some industry stakeholders worry that excessive regulation could hinder innovation, others argue that clear rules will attract institutional investors and bring stability to the market.

As the task force begins its work, the crypto community is watching closely, anticipating a regulatory framework that supports innovation while ensuring market integrity and investor trust.

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Tether, the leading stablecoin issuer, has announced plans to relocate its operations to El Salvador after securing a Digital Asset Service Provider (DASP) license. This strategic move underscores Tether’s commitment to advancing Bitcoin adoption and innovation in emerging markets.

El Salvador, renowned for its progressive stance on digital assets, became the first country to adopt Bitcoin as legal tender in 2021. The nation’s favorable regulatory environment and growing Bitcoin-savvy community have made it an attractive destination for fintech companies. By establishing its headquarters in El Salvador, Tether aims to leverage this supportive ecosystem to develop and implement cutting-edge financial solutions more efficiently.

Paolo Ardoino, CEO of Tether, stated, “This decision is a natural progression for Tether as it allows us to build a new home, foster collaboration, and strengthen our focus on emerging markets.” He emphasized that El Salvador’s vision for financial freedom aligns seamlessly with Tether’s mission to empower individuals and businesses through digital currency.

According to the official statement, Tether’s relocation is expected to enhance its operational agility and capacity for innovation. By immersing itself in a Bitcoin-first economy, the company plans to expand its efforts in supporting financial inclusion, particularly in underserved regions. This move also reflects Tether’s dedication to providing reliable, accessible, and transparent financial solutions to its global user base.

El Salvador’s embrace of blockchain technology and digital currencies has positioned it as a global hub for digital assets and technology innovation. Tether’s establishment in the country is anticipated to attract further investment and encourage the development of the broader financial and technology sectors, solidifying El Salvador’s role in the global fintech landscape.

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Meme coins have taken the cryptocurrency market by storm, turning jokes into legitimate investment opportunities and captivating millions worldwide. From the legendary Shiba Inu to the adventurous Arctic Pablo Coin ($APC), these tokens have not only created overnight millionaires but also inspired vibrant, dedicated communities. With each coin carrying a unique story and value proposition, the competition for dominance in this niche remains fierce.

Among these rising stars, Arctic Pablo stands out as a thrilling new contender, boasting innovative features and jaw-dropping potential. While the likes of Shiba Inu and Floki Inu have solidified their positions, Arctic Pablo’s groundbreaking approach promises to take meme coins to the next level. Let’s dive deeper into these exciting projects and see why Arctic Pablo leads the charge in the best crypto presale to buy now.

1.  Arctic Pablo: A Treasure Hunt You Can’t Ignore

Imagine embarking on an epic journey with Arctic Pablo, a daring explorer on a quest for hidden treasures in the mythical underwater city of Atlantis. As Pablo’s magical coin glows with untapped potential, early investors have the chance to unlock unparalleled rewards. What makes Arctic Pablo ($APC) so unique is its dynamic roadmap—each week, Pablo moves to a new location, and his next stop is the icy world of Icyopolis. However, if treasures in Atlantis are discovered early, the expedition shifts immediately, creating an exclusive and fleeting window for investors.

The Arctic Pablo presale offers an astounding 53,000% ROI for those who join early, making it one of the best crypto presales to buy now. But the excitement doesn’t stop there. Arctic Pablo employs a deflationary token burn mechanism, permanently eliminating unsold tokens weekly during the presale.

Additionally, all remaining tokens after the presale will be burned, ensuring enhanced scarcity and long-term value. With every burn recorded transparently on the Binance Smart Chain (BSC), Arctic Pablo prioritizes investor confidence while fostering sustainability. For those seeking to capitalise on the meme coin craze, $APC is a golden opportunity that you simply cannot afford to miss.

2.  Shiba Inu: The Meme Coin That Started It All

No discussion about meme coins is complete without mentioning Shiba Inu. Launched as the self-proclaimed “Dogecoin Killer,” Shiba Inu introduced a robust ecosystem featuring its native token, $SHIB, and projects like ShibaSwap, Shibarium, and more. Its popularity soared thanks to a loyal community and the coin’s remarkable capacity for massive gains during bull markets.

Shiba Inu’s success lies in its ability to combine meme culture with tangible utility, making it a go-to choice for crypto enthusiasts. The ecosystem’s continuous evolution, including its ventures into NFTs and DeFi, ensures its relevance in the ever-changing crypto landscape.

That’s why Shiba Inu earned its spot on this list—it’s the coin that redefined the power of community-driven projects.

3.  Floki Inu: The Viking of Meme Coins

Born from the inspiration of Elon Musk’s Shiba Inu dog, Floki Inu has carved a niche for itself with a Viking-inspired narrative. The coin has established a multi-faceted ecosystem that includes FlokiFi, a DeFi protocol, and Valhalla, an ambitious play-to-earn metaverse game. Floki’s combination of storytelling, utility, and a strong social media presence has made it one of the most talked-about meme coins in recent years.

Floki Inu’s focus on gamification and community engagement has made it a standout in the meme coin space. With its roadmap blending innovation and fun, it’s no surprise that Floki Inu remains a top choice for meme coin investors.

That’s why it makes this list—it’s a coin with both charm and utility, poised for further growth.

Conclusion: Your Next Move in Meme Coins

Based on the latest research, the best cryptos to buy now are Arctic Pablo, Shiba Inu, and Floki Inu. While Shiba Inu remains the trailblazer and Floki Inu continues to innovate, Arctic Pablo leads the charge with its groundbreaking treasure-hunting adventure and deflationary tokenomics.

If you’re ready to seize a rare investment opportunity, now is the time to act. Arctic Pablo’s presale window won’t last forever, and with the promise of 53,000% ROI, this is your chance to join an extraordinary journey. Don’t let the next big wave in meme coins pass you by—dive into Arctic Pablo today!

For More Information:

Arctic Pablo Coin: https://www.arcticpablo.com/

Telegram: https://t.me/ArcticPabloOfficial

Twitter: https://x.com/arcticpabloHQ

Disclaimer: The statements, views and opinions expressed in this article are solely those of the content provider and do not necessarily represent those of Crypto Reporter. Crypto Reporter is not responsible for the trustworthiness, quality, accuracy of any materials in this article. This article is provided for educational purposes only. Crypto Reporter is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Do your research and invest at your own risk.

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Pichai Chunhavajira, Finance Minister of Thailand, on Wednesday unveiled a project to test cryptocurrency payments as an alternative to cash in the tourist destination of Phuket.

According to Pichai, the government’s policy is to trial cryptocurrencies in tourism-focused cities to make it easier for foreign tourists to use their digital assets for payments. Also, there is no need to amend current laws, as the mechanisms to support such transactions are already in place.

Pichai highlighted how recent geopolitical conflicts have disrupted global economies, noting that for individuals fleeing political tensions and seeking to purchase property in Thailand, “paying with Bitcoin could be a much simpler process.”

Foreign tourists participating in the pilot might be allowed to register their bitcoins through a Thai exchange and verify their identities before using the coins to purchase goods and services.

The project is part of a broader strategy to attract cryptocurrency-savvy travelers and ensure Thailand remains a competitive destination in the global tourism market.

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Digital asset management company Grayscale Investments has added HYPE, ENA, VIRTUAL, JUP, JTO, and GRASS to its updated list of the Top 20 cryptocurrencies for Q1 2025.

Each quarter the Grayscale research team analyzes digital assets universe to produce a diversified set of top assets across cryptocurrency sectors. The approach incorporates a range of factors, including network growth/adoption, upcoming catalysts, sustainability of fundamentals, token valuation, token supply inflation, and potential tail risks.

This quarter the Grayscale research team emphasizes the importance of the three following points: (1) the U.S. election and its potential implications for industry regulation, particularly in areas like decentralized finance (DeFi), and staking; (2) continued breakthroughs in decentralized AI technologies and the use of blockchains by AI agents; and (3) growth in the Solana ecosystem.

Taking into account these three points, the following new cryptocurrencies were added to the Top 20 list for Q1 2025:

Hyperliquid (HYPE): Hyperliquid is a Layer 1 blockchain designed to support on-chain financial applications. Its primary application is a decentralized exchange (DEX) for perpetual futures, featuring a fully on-chain order book.

Ethena (ENA): Ethena protocol has developed as novel stablecoin, USDe, which is backed primarily by hedged positions in Bitcoin and Ether collateral.[5] Specifically, the protocol holds long positions in Bitcoin and Ether and short positions in perpetual futures contracts on the same assets. A staked version of the token offers from the difference between spot and futures prices.

Virtuals Protocol (VIRTUAL): Virtuals Protocol is a platform for creating AI agents on Base, an Ethereum Layer 2 network. These AI agents are designed to perform tasks autonomously, mimicking human decision-making. The platform allows for the creation and co-ownership of tokenized AI agents, which can interact with their environment and other users.

Jupiter (JUP): Jupiter is the premier DEX aggregator on Solana, boasting the highest TVL among all applications on the network. As retail traders increasingly enter the crypto market through Solana and speculation intensifies around Solana-based memecoins and AI agent tokens, we believe Jupiter is well positioned to capitalize on this growing market activity.

Jito (JTO): Jito is a liquid taking protocol on Solana. Jito has experienced substantial growth in adoption over the past year and offers one of the best financial profiles in all of crypto, generating over $550mn in 2024 fee revenue.

Grass (GRASS): Grass is a decentralized data network that rewards users for sharing their unused internet bandwidth through a Chrome extension. This bandwidth is used to scrape online data, which is then sold to AI companies and developers for training machine learning models, effectively conducting web scraping for data while compensating users.

All cryptocurrencies included into Top 20 list are presented in the table below.

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The European Union’s Markets in Crypto-Assets Regulation (MiCA) is set to take full effect on December 30, 2024, marking a significant milestone in the EU’s journey toward comprehensive financial digitalization. This regulatory framework aims to establish clear guidelines for crypto-assets, fostering innovation while ensuring consumer protection and market integrity.

MiCA introduces stringent requirements for crypto-asset service providers (CASPs), including the obligation to obtain authorization to operate within the EU. This move is designed to mitigate risks associated with crypto-assets, such as fraud and market manipulation, thereby enhancing investor confidence. Additionally, MiCA imposes transparency obligations on issuers of asset-referenced tokens and e-money tokens, ensuring that consumers are well-informed about the products they engage with.

The regulation also addresses the environmental concerns associated with crypto-assets by requiring CASPs to disclose information on the sustainability of their activities. This aligns with the EU’s broader commitment to promoting sustainable finance and reducing the carbon footprint of digital financial services.

However, MiCA’s implementation comes at a time when global regulatory landscapes are rapidly evolving. Notably, former U.S. President Donald Trump’s pro-crypto stance has introduced a competitive dynamic, with the U.S. potentially offering a more favorable environment for crypto businesses. Trump’s promise to make the U.S. “the crypto capital of the planet” has already influenced major players like Binance to reconsider their operational strategies, potentially prioritizing the U.S. over Europe.

Despite these global shifts, MiCA positions the EU as a pioneer in crypto-asset regulation, providing a harmonized framework that could serve as a model for other jurisdictions. The regulation is expected to attract institutional investors by offering legal certainty and a stable operating environment. Moreover, MiCA’s emphasis on consumer protection and market integrity is likely to encourage broader public adoption of digital financial services within the EU.

In conclusion, MiCA represents a pivotal step in the EU’s financial digitalization efforts, balancing the need for innovation with robust regulatory oversight. As the global crypto landscape continues to evolve, the EU’s approach may influence regulatory strategies worldwide, shaping the future of digital finance on a global scale.

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As Bitcoin’s value surpasses $100,000, luxury brands are increasingly adopting cryptocurrency payments to attract affluent, tech-savvy consumers and diversify their revenue streams.

Image via Flickr

French department store Printemps has partnered with Binance and fintech firm Lyzi to accept Bitcoin and Ethereum, becoming the first European department store to do so. This initiative has sparked interest among other luxury retailers, with Binance France’s president, David Princay, noting, “There have been quite a few calls—it’s generated interest.”

Luxury lighter and pen maker S.T. Dupont plans to introduce cryptocurrency payments in two Paris stores before the holiday season. Additionally, cruise company Virgin Voyages now offers a $120,000 annual pass payable in Bitcoin, reflecting the growing acceptance of digital currencies in the luxury experience sector.

Brands such as Gucci and Balenciaga have been accepting cryptocurrency payments in the United States since 2022, positioning themselves as pioneers in integrating digital currencies into traditional retail.

The luxury sector’s shift towards cryptocurrency is partly driven by the promise of supportive U.S. regulation under President-elect Donald Trump, who has expressed intentions to foster a crypto-friendly environment. This regulatory optimism has contributed to Bitcoin’s record-breaking rise, encouraging luxury brands to explore digital payment options.

Offering cryptocurrency payments allows luxury brands to brand themselves as innovative and appeal to younger, tech-savvy customers. Andrew O’Neill, digital assets lead analyst at S&P Global Ratings, suggests that this approach helps companies avoid being perceived as “a stuffy old brand that’s only selling to the boomers.”

Despite the volatility and regulatory concerns associated with cryptocurrencies, luxury brands are implementing measures to mitigate risks. Retailers often convert crypto payments into traditional currencies to offset potential value fluctuations, ensuring financial stability while accommodating customer preferences.

The integration of cryptocurrency payments signifies a transformative period for the luxury industry, reflecting a broader acceptance of digital currencies in mainstream commerce. As more luxury brands adopt crypto-friendly policies, the intersection of high-end retail and digital finance is poised to expand, offering consumers increased flexibility and aligning with the evolving digital economy.

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