Congress repealed the IRS broker rule, but can it regulate DeFi?
The decentralized finance (DeFi) industry is breathing a sigh of relief as Congress relaxes reporting obligations, but questions remain about how lawmakers will regulate DeFi. On March 12, the House of Representatives voted to nullify a rule that required DeFi protocols to report gross proceeds from crypto sales, as well as info on taxpayers involved, […]
FTX liquidated $1.5B in 3AC assets 2 weeks before hedge fund’s collapse
Newly revealed court documents show that FTX secretly liquidated $1.53 billion in Three Arrows Capital (3AC) assets just two weeks before the hedge fund collapsed in 2022. The disclosure challenged previous narratives that 3AC’s downfall was solely market-driven. Once valued at over $10 billion, 3AC collapsed in mid-2022 after a series of leveraged directional trades […]
US Rep. Byron Donalds to introduce bill codifying Trump’s Bitcoin reserve
A new bill set to be introduced in Congress aims to formalize President Donald Trump’s executive order establishing a US Strategic Bitcoin Reserve, a move that could further integrate Bitcoin into the nation’s financial strategy. Trump signed an executive order on March 7 to use Bitcoin (BTC) seized in government criminal cases to establish a […]
Hong Kong fintech sector sees 250% blockchain growth since 2022
Hong Kong anticipates the continued growth of its fintech ecosystem, with blockchain, digital assets, distributed ledger technology (DLT) and artificial intelligence playing a central role in shaping its future. Hong Kong is home to over 1,100 fintech companies, which include 175 blockchain application or software firms and 111 digital asset and cryptocurrency companies, marking a […]
Pump.fun memecoins are dying at record rates, less than 1% survive
The memecoin frenzy on Pump.fun is hitting a wall, with the platform’s “graduation rate” sinking below 1% for the fourth straight week. “Graduation rate” is the memecoin launchpad’s term for tokens that make it through the incubation phase and become fully tradable on a Solana decentralized exchange (DEX). To graduate, a token must meet specific […]
Hong Kong crypto payment firm RedotPay wraps $40M Series A funding round
Hong Kong-based crypto payment platform RedotPay closed a $40 million Series A funding round led by Lightspeed, with participation from HSG and Galaxy Ventures. RedotPay aims to enable cryptocurrency use in everyday transactions while simplifying blockchain transactions for spenders, akin to fiat. In November 2023, the company launched its own physical Visa cards, which can […]
Behind Elon Musk’s X outage: What really happened and why it matters
What caused the X outage? On March 10, 2025, X’s services went down for many users, causing frustration and confusion across the platform. The outages were significant enough to make headlines and draw attention from the tech community and the media. Elon Musk, ever the outspoken owner, quickly attributed the disruptions to a “massive cyberattack.” […]
Bitcoin panic selling costs new investors $100M in 6 weeks — Research
Bitcoin speculators suffered losses of over $100 million in just six weeks thanks to panic selling, new research calculated. Data from onchain analytics platform CryptoQuant revealed the extent of recent capitulation by short-term holders (STHs). Bitcoin speculators run to the exit “in the red” Bitcoin (BTC) entities hodling coins between one and three months bore […]
Calls for stricter rules on political memecoins after $4B Libra collapse
Industry voices warned that politically endorsed cryptocurrencies must adopt stronger investor protections and liquidity safeguards to prevent another major market collapse. Investor sentiment remains shaken after the Libra (LIBRA) token, which was endorsed by Argentine President Javier Milei, suffered a $4 billion market cap wipeout due to insider cash-outs. According to blockchain analytics firm DWF […]
Trump-backed World Liberty Financial nets $550M in token sales
World Liberty Financial, a decentralized finance (DeFi) project backed by the Trump family, has completed its second public token sale, raising $250 million from investors. WLFI launched on Sept. 16, 2024, with the goal of promoting DeFi and stablecoins pegged to the US dollar. The project is endorsed by President Donald Trump and his sons […]