Top Stories of The Week
Market is underestimating how quickly Bitcoin will hit new ATH: Analyst
Bitcoin will break past its $109,000 all-time high sooner than expected despite recent volatile US macroeconomic conditions, according to a crypto analyst.
“The market may be underestimating how quickly Bitcoin could surge – potentially hitting new all-time highs before Q2 is out,” Real Vision chief crypto analyst Jamie Coutts told Cointelegraph.
He said this forecast stands regardless of whether or not there is more clarity on US President Donald Trump’s tariffs and potential recession concerns.
Trump pardons 3 BitMEX co-founders — Report
US President Donald Trump reportedly issued pardons to three co-founders of the cryptocurrency exchange BitMEX, who had pleaded guilty to felony charges.
According to a March 28 CNBC report, Trump granted pardons to Arthur Hayes, Benjamin Delo and Samuel Reed, who were facing a range of criminal charges related to money laundering or violations of the Bank Secrecy Act.
Hayes and Delo pleaded guilty in February 2022, admitting they “willfully fail[ed] to establish, implement and maintain an Anti-Money Laundering program” at BitMEX, while Reed entered a plea a few weeks later.
Ex-FTX CEO moved to transit facility after interview
Officials with the Federal Bureau of Prisons have moved former FTX CEO Sam Bankman-Fried to a transit facility days after political commentator Tucker Carlson interviewed him.
As of March 27, the bureau’s website showed Bankman-Fried was being housed at the Federal Transfer Center in Oklahoma City, suggesting he may be moved from the facility where he was incarcerated while awaiting trial and then moving forward with an appeal of his conviction.
Carlson remotely interviewed Bankman-Fried, commonly known as SBF, from the Metropolitan Detention Center in Brooklyn, New York, on March 5 — a reportedly unsanctioned event that resulted in the former FTX CEO being sent to solitary confinement.
UAE expects digital dirham rollout in Q4 2025
The United Arab Emirates expects its digital dirham central bank digital currency to roll out in the fourth quarter of 2025.
According to a report in the Khaleej Times, Central Bank of the UAE Governor Khaled Mohamed Balama said that the blockchain-based currency could improve financial stability and help combat financial crime. According to the report, the retail sector could expect the issuance of a digital dirham in the last quarter of 2025.
“It [digital dirham] will further enable the development of innovative digital products, services, and new business models while reducing cost and increasing access to international markets,” Balama said.
Onchain sleuth ZachXBT accuses Crypto.com of CRO supply manipulation
Crypto.com is facing criticism from the crypto community after reissuing 70 billion Cronos tokens burned in 2021. Critics said the move undermines the principles of decentralization and transparency in the cryptocurrency space.
The controversy erupted on March 25 after pseudonymous onchain investigator ZachXBT posted on X, accusing Crypto.com of reissuing Cronos tokens that had been declared permanently removed from circulation. “CRO is no different from a scam,” ZachXBT said, claiming the reissued amount represented 70% of the total supply and contradicted the community’s expectations.
“Your team just reissued 70B CRO a week ago that was previously burned ‘forever’ in 2021 (70% total supply) and went against the community wishes as you control majority of the supply,” he added.
Winners and Losers
At the end of the week, Bitcoin (BTC) is at $84,437, Ether (ETH) at $1,907 and XRP at $2.21. The total market cap is at $2.74 trillion, according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Berachain (BERA) at 32.97%, Cronos (CRO) at 30.01% and ZCash (ZEC) at 20.12%.
The top three altcoin losers of the week are PancakeSwap (CAKE) at 22.63%, Pi (PI) at 19.15% and Hyperliquid (HYPE) at 14.59%. For more info on crypto prices, make sure to read Cointelegraph’s market analysis.
Most Memorable Quotations
“They used every tool available to attempt to stifle us, restricting access to banking, auditors, investors, and beyond. It was a calculated attempt to put an end to the industry.”
Kris Marszalek, CEO of Crypto.com
“Hyperliquid may be on track to become FTX 2.0.”
Gracy Chen, CEO of Bitget
“After a year of fighting, this threat to digital ownership rights has finally been put to rest.”
Robbie Ferguson, co-founder of Immutable
“I bet $BTC hits $110k before it retests $76.5k. Y? The Fed is going from QT to QE for treasuries. And tariffs don’t matter cause of “transitory inflation.”
Arthur Hayes, co-founder and former CEO of BitMEX
“Ethereum’s holders have now brought the available supply on exchanges down to 8.97M, the lowest amount in nearly 10 years (November, 2015).”
Santiment
“It’s super fun seeing people love images in ChatGPT but our GPUs are melting. We are going to temporarily introduce some rate limits while we work on making it more efficient.”
Sam Altman, CEO of OpenAI
Prediction of The Week
XRP price may drop another 40% as Trump tariffs spook risk traders
The XRP market is flashing warning signs as a bearish technical pattern emerges on its weekly chart, coinciding with macroeconomic pressures from anticipated US tariffs in April.
Since its late 2024 rally, the XRP price chart has been forming a potential triangle pattern on its weekly chart, characterized by a flat support level mixed with a downward-sloping resistance line.
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A descending triangle pattern forming after a strong uptrend is seen as a bearish reversal indicator. As a rule, the setup resolves when the price breaks below the flat support level and falls by as much as the triangle’s maximum height.
As of March 28, XRP was testing the triangle’s support for a potential breakdown move. In this case, the price may fall toward the downside target at around $1.32 by April, down 40% from current price levels.
FUD of The Week
Lazarus Group’s 2024 pause was repositioning for $1.4B Bybit hack
North Korea-affiliated hackers may have scaled back their operations in the second half of 2024 while preparing for what became the largest crypto hack in history.
The crypto industry was rocked by the enormous hack on Feb. 21 when Bybit lost over $1.4 billion to the infamous North Korean Lazarus Group, which seems to have prepared the attack months in advance.
According to blockchain analytics firm Chainalysis, illicit activity tied to North Korean cyber actors sharply declined after July 1, 2024, despite a surge in attacks earlier that year.
The slowdown in crypto hacks by North Korean agents had raised significant red flags, according to Eric Jardine, Chainalysis cybercrimes research lead.
Coffeezilla shouldn’t duck Logan Paul suit over CryptoZoo claims: Judge
Influencer Logan Paul should be allowed to continue a lawsuit accusing YouTuber Stephen Findeisen, also known as “Coffeezilla,” of making defamatory remarks about Paul’s failed CryptoZoo project, a Texas magistrate judge said.
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In a March 26 report filed in a San Antonio federal court, Magistrate Judge Henry Bemporad recommended that Federal Judge Orlando Garcia, overseeing the case, deny Findeisen’s bid to toss Paul’s lawsuit, as Findeisen presented his claims more akin to facts than “mere opinion.”
“At the pleading stage, Plaintiff [Paul] has sufficiently alleged that the statements at issue in this case are reasonably capable of defamatory meaning and are not unactionable opinions,” Bemporad wrote.
Darkweb actors claim to have over 100K of Gemini, Binance user info
Darkweb threat actors claim to have hundreds of thousands of user records — including names, passwords and location data — of Gemini and Binance users, putting the apparent lists up for sale on the internet.
The Dark Web Informer, a Darkweb cyber news site, said in a March 27 blog post that the latest sale is from a threat actor operating under the handle AKM69, who purportedly has an extensive list of private user information from users of crypto exchange Gemini.
“The database for sale reportedly includes 100,000 records, each containing full names, emails, phone numbers, and location data of individuals from the United States and a few entries from Singapore and the UK,” the Dark Web Informer said.
Top Magazine Stories of The Week
Arbitrum co-founder skeptical of move to based and native rollups: Steven Goldfeder
Despite reports to the contrary, Arbitrum doesn’t sound as if it will embrace based or native rollups any time soon, according to co-founder Steven Goldfeder.
‘Chernobyl’ needed to wake people to AI risks, Studio Ghibli memes: AI Eye
A Chernobyl-level event might alert humans to the risks of AGI, humanoid robots tested in homes, and Indian call centers get an American accent makeover with AI.
Bitcoiner sex trap extortion? BTS firm’s blockchain disaster: Asia Express
Viral crypto influencer’s Bitcoin seduction campaign draws heat, BTS firm’s embarrassing blockchain flop shuttered, and more.
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Editorial Staff
Cointelegraph Magazine writers and reporters contributed to this article.
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Hodler’s Digest
Roaring Kitty fraud suit dropped, Ethereum Foundation hacked, and more: Hodler’s Digest, June 30 – July 6
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July 6, 2024
Roaring Kitty fraud lawsuit voluntarily dropped, Ethereum Foundation email server hacked, and Circle becomes first MiCA-compliant stablecoin issuer.
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Asia Express
Huawei NFTs, Toyota’s hackathon, North Korea vs. Blockchain: Asia Express
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ZhiyuanSun
5 min
February 2, 2023
Our weekly roundup of news from East Asia curates the industry’s most important developments. Huawei moves to trademark its NFTs According to a Jan. 28 report by Sina News, Chinese telecom giant Huawei has recently filed for eight trademarks related to its Huawei “YunYunBao” nonfungible tokens (NFT) series. The trademarks include digital collectibles in the […]
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