Weekly Crypto Roundup: Key Developments in the Cryptocurrency World

March 29, 2025

Regulatory Shifts and Legal Actions

• FDIC Eases Crypto Restrictions for Banks: The Federal Deposit Insurance Corporation (FDIC) announced that banks no longer require prior approval to engage in cryptocurrency-related activities. This policy reversal aims to provide financial institutions with greater flexibility in managing digital assets, provided they adequately address associated risks.

• Pardons for BitMEX Co-Founders: President Donald Trump has pardoned the three co-founders of the cryptocurrency exchange BitMEX—Benjamin Delo, Arthur Hayes, and Samuel Reed—who had pleaded guilty to violating the Bank Secrecy Act in 2022. This move is seen as part of the administration’s broader engagement with the crypto industry.

• Galaxy Digital’s $200 Million Settlement: Galaxy Digital has agreed to a $200 million settlement with the New York Attorney General over its involvement in the collapse of the cryptocurrency LUNA and the stablecoin TerraUSD during the 2022 crypto crisis. The settlement will be paid over three years, with Galaxy Digital neither admitting nor denying the allegations. 

Market Movements

• Bitcoin and Altcoins Experience Decline: Bitcoin’s price has fallen below $86,000, marking a 1.8% decline in the last 24 hours. Ethereum also dropped by 5.1% to $1,923. The overall cryptocurrency market capitalization decreased by 2.35%, settling at $2.79 trillion. 

Community Alerts

• Cryptocurrency Scam Warning: Stuntman Felix Leech, known for his roles in “Star Wars” and “Game of Thrones,” lost nearly £50,000 in a sophisticated cryptocurrency scam. After joining a WhatsApp trading group, he was initially able to make small withdrawals, which made the scam appear legitimate. However, larger withdrawal attempts led to demands for substantial fees under false pretenses. Leech warns others to exercise caution and be aware of scammers’ intimidation tactics. #MarketPullback $SOL $BTC