Umair
Today’s edition of the weekly recap covers the opening of Terra’s investor claims portal, President Trump’s latest crypto pardon, and Polymarket’s governance issues.
Terra opens investor claims portal
- Terraform Labs will launch an online system on March 31, allowing investors to file claims for losses related to the collapse of the Luna (LUNA) token and TerraUSD stablecoin.
- Investors must submit claims by April 30 at 11:59 p.m. ET through claims.terra.money, with late submissions forfeiting recovery rights.
Trump pardons BitMEX founders
- President Donald Trump issued pardons to three co-founders of cryptocurrency exchange BitMEX: former CEO Arthur Hayes, Benjamin Delo, and Samuel Reed.
- The executives had previously pleaded guilty to violating the Bank Secrecy Act for failing to maintain proper anti-money laundering and know-your-customer programs.
SEC ends Crypto.com investigation
- Crypto.com announced Thursday that the Securities and Exchange Commission has closed its investigation into the exchange.
- This conclusion is the latest major crypto firm to have SEC probes dropped. Others reportedly include Immutable, Crypto.com, Ripple, Coinbase and “Hawk Tuah Girl.”
Hyperliquid expands to spot trading
- The decentralized exchange has implemented direct deposits and withdrawals for spot trading, according to Thursday’s announcement.
- On Wednesday, the decentralized exchange also suffered another whale manipulation event when a user shorted the Solana (SOL) meme coin JELLY while a whale simultaneously dumped the token on DEXs.
USDT0 stablecoin extends to Optimism ecosystem
- Tether’s USDT0 stablecoin is expanding across Optimism’s Superchain following its successful launch on Kraken’s Ink layer 2 network.
- According to Thursday’s announcement, USDT0 is now live on OP Mainnet with additional launches planned in the near future.
Sam Bankman-Fried gets transferred
- According to Thursday’s update on the Federal Bureau of Prisons website, the former FTX CEO has been moved to the Oklahoma City Federal Transfer Center.
Wyoming plans state-issued stable token
- Governor Mark Gordon announced the crypto-friendly state’s intention to issue its own “stable token” at Wednesday’s Digital Chamber DC Blockchain Summit.
- The Republican governor cited Wyoming’s “right ecosystem for development” and responsive government as advantages, noting “we can turn on a dime, we can make things happen.”
Polymarket acknowledges governance attack
- The crypto prediction market platform stated it is “aware” of an alleged attack on one of its betting markets, possibly involving manipulation of its UMA oracle provider.
- Between March 24-25, a $7 million bet titled “Ukraine agrees to Trump mineral deal before April?” suddenly shifted from 9% to 100% probability, raising concerns about coordinated market manipulation.
SEC closes Immutable investigation
- The SEC has ended its investigation into Australian crypto company Immutable, which had received a Wells notice in October.
- The now-closed investigation had involved Immutable itself, the IMX Ecosystem Foundation, and the company’s CEO, with the Wells notice previously signaling potential charges.
Fidelity plans Solana ETF
- The $5 trillion asset management firm filed with the SEC on Tuesday to create an exchange-traded fund tracking Solana prices.
- Cboe Exchange submitted a 19b-4 filing to list the proposed Solana ETF, following Fidelity’s registration of a Solana Fund in Delaware the previous Thursday.
Dogecoin Foundation acquires $1.8 million in DOGE
- The Foundation’s corporate arm, House of Doge, purchased over 10 million dogecoin as part of a broader Dogecoin (DOGE) reserve strategy.
- House of Doge, formed in February with a five-year operating agreement, aims to reposition DOGE as a practical payment currency rather than primarily a memecoin.
Strategy surpasses 500,000 Bitcoin milestone
- Michael Saylor’s company acquired an additional 6,911 Bitcoin (BTC) for $584.1 million at an average cost of $84,529 per token.
- This purchase brings Strategy’s total holdings to 506,137 BTC, acquired for $33.7 billion at an average cost of $66,608 each.
