Editor's Choice
The Federal Reserve System has supported the BFT mechanism for digital payments, which opens up new opportunities for cryptocurrencies XRP, XLM, and HBAR in financial systems
The Federal Reserve System of the USA has supported the BFT (Byzantine Fault Tolerance) consensus mechanism, recognizing it as an effective and secure solution for digital payments. This could accelerate the adoption of BFT in financial systems, opening up opportunities for cryptocurrencies such as XRP, XLM, and HBAR. These assets use different forms of BFT, which makes them attractive for integration into international payment networks. The adoption of BFT also presents a challenge for smaller crypto projects to adapt and implement new solutions to increase their competitiveness.
Bybit invests $1 million in EthicHub to support small farmers, improve financial inclusion, and promote sustainable development in the coffee industry through blockchain
Bybit, the second-largest cryptocurrency exchange, has invested $1 million in EthicHub to enhance financial inclusion for small farmers, particularly in the coffee industry. The investment is aimed at creating the "Bybit Pool" fund to provide fair credit lines to farmers, helping them increase productivity and avoid exploitation. This decision highlights Bybit's commitment to using blockchain technology for social change, ensuring sustainable development for rural communities and financial transparency.
The bill on Bitcoin reserves rejected in Montana: The House of Representatives voted against investing in cryptocurrencies using state funds
The bill on the creation of reserves in Bitcoin in the state of Montana was rejected by the House of Representatives. In a vote on February 22, 2025, the bill received 41 votes in favor and 59 votes against. Its goal was to allow state funds to be invested in cryptocurrencies and precious metals with a market capitalization of over $750 billion. Opponents argued that this was too risky a use of taxpayer money. Supporters, on the other hand, argued that such investments could improve the state’s financial standing.
Pump.fun blocks hacker linked to major Bybit breach, preventing laundering of 1.5 billion dollars through meme coin QinShihuang
Pump.fun platform prevented an attempt by a hacker connected to the major Bybit exchange breach from launching tokens to launder stolen funds. The attacker used wallet 5STkQy…95T7Cq to transfer 60 SOL to wallet 9Gu8v6…aAdqWS, from which the meme coin QinShihuang (500000) was launched on Pump.fun, which could have been an attempt to hide the stolen funds. As a result, hackers stole more than 400,000 ETH worth around 1.5 billion dollars from Bybit's cold wallet. The exchange quickly reassured users, stating the safety of funds thanks to the 1:1 reserve system.
Kraken and Crypto.com are developing their own stablecoins to comply with the new MiCA regulation requirements in the EU, excluding unauthorized tokens by March 2025
The Lazarus group is using the meme-coin QinShihuang to launder $26 million stolen from Bybit through the Solana and Binance Smart Chain blockchains, exacerbating security issues on cryptocurrency platforms
Bybit restores 50 percent of Ethereum reserves after a $1.4 billion hacker attack, receiving emergency help from crypto companies and confirmation of user fund security
Costa Rica launches its first Bitcoin ETF through the largest bank, Banco Nacional, providing citizens access to crypto investments through the country's banking system
The CEO of Bybit, Ben Zhou, called Pi Network a fraudulent project and rejected the listing of the token following a warning from Chinese authorities
SEC concludes investigation against OpenSea: The platform is cleared of securities law violations, supporting the development of the NFT industry
FTX continues to make payments to creditors, but users from Russia, China, Ukraine, Nigeria, and Egypt remain excluded; payments for large creditors will begin in the second quarter of 2025
SEC approved the first U.S. interest-bearing stablecoin from Figure Markets, offering a 3.85 percent yield and available for independent storage and transactions
Kanye West (Ye) announces the launch of the YZY cryptocurrency, which will allow bypassing platforms like Shopify, with the aim of making it the primary currency for purchases on the official website
Kanye West (Ye) announced the launch of the YZY cryptocurrency, which will allow bypassing platforms such as Shopify after their breakup with him. YZY will also become the primary currency for purchases on the artist’s official website. The launch was postponed from Thursday to Friday due to concerns about the consequences of cryptocurrency scandals, such as the initiative with the LIBRA token in Argentina. Ye, who previously criticized cryptocurrencies for hype and speculation, now decided to create his own token, citing his business experience.
Bybit was subjected to a hacker attack, during which over $1.4 billion in staked Ether and other ERC-20 tokens were stolen
On February 21, 2025, the cryptocurrency exchange Bybit became the victim of a hacker attack, during which over $1.4 billion in staked Ether (stETH), Mantle Staked ETH (mETH), and other ERC-20 tokens were stolen. According to analyst ZachXBT, the funds were transferred through a multisignature wallet, after which the hackers masked the transfer to deceive the exchange's security system. Bybit's CEO, Ben Zhou, confirmed the incident, assuring that other cold wallets of the exchange remain secure and that withdrawals continue as usual.
The SEC drops the appeal against extending securities laws to DeFi, paving the way for a productive dialogue between the crypto industry and the regulator
The U.S. Securities and Exchange Commission (SEC) has dropped its appeal, overturning the attempt to extend securities laws to decentralized finance (DeFi). This decision means that DeFi platforms are unlikely to be required to comply with registration requirements related to cryptocurrency liquidity providers. Earlier, the SEC tried to expand the definition of "dealer," which triggered criticism from crypto associations. In response, the cryptocurrency industry is hoping for a productive dialogue with the new SEC leadership.
The ECB is developing a blockchain-based payment system, which could lead to the issuance of a digital euro to improve settlements and economic stability in the eurozone
The European Central Bank (ECB) is launching a project to create a payment system based on blockchain, which could lead to the issuance of a digital euro. The platform will be developed in two stages. In the first stage, the ECB will create a central bank money settlement system connected to the TARGET platform. In the second stage, long-term solutions for blockchain-based settlements will be explored. This project will strengthen the eurozone economy by providing faster and safer digital payments and reducing dependence on foreign payment systems.
Best news of the last 10 days
The Chief Technology Officer of SafeMoon, Thomas Smith, pleaded guilty to cryptocurrency fraud involving $200 million related to false statements about the liquidity of the SFM token
Elon Musk accuses the Democrats of "treason" at the Conservative Conference, calling for an audit of the Federal Reserve and the fight against bureaucracy
The BestChange website, a cryptocurrency exchange rate aggregator, was unblocked after being blocked due to suspicions of violating the cryptocurrency advertising law in Russia
TikTok is cutting staff in the security department amid the threat of a ban in the US and an investigation into political bias in the algorithms in Germany and other countries
A former employee of Wechain FinTech, Ho Kai Xin, has been sentenced to nearly 10 years in prison for stealing over $4 million from the ByBit cryptocurrency exchange through manipulation of payroll data
Ho Kai Xin, a former employee of Wechain FinTech, stole over $4 million from the cryptocurrency exchange ByBit by manipulating payroll records. The fraud was uncovered in 2022, and in 2025, Ho was sentenced to 9 years and 11 months in prison. The exchange was able to recover $1.27 million. This case highlights the importance of effective internal controls in cryptocurrency companies to prevent such crimes and losses.
British Graham Darby sentenced for concealing cryptocurrency assets in legal dispute related to an unfulfilled deal to exchange bitcoins and Tezos
50-year-old Graham Darby from the UK was sentenced to 18 months for concealing his cryptocurrency assets during a legal dispute with Australian Zhi Wan. They had agreed to exchange 30 bitcoins for 400,000 Tezos, but Darby failed to fulfill the terms of the deal and did not return the Tezos after the deadline. During the investigation, it was revealed that Darby had 100 bitcoins, which he did not disclose. The court found him guilty of withholding information and sentenced him to prison, which was reduced after he pleaded guilty and apologized.
SEC is creating a new division to combat cybercrime and protect investors: The Cyber and Emerging Technologies Unit will replace the Crypto Assets and Cyber Unit
The U.S. Securities and Exchange Commission (SEC) has announced the creation of a new division – the Cyber and Emerging Technologies Unit (CETU), which will replace the Crypto Assets and Cyber Unit. CETU will focus on combating cybercrimes related to artificial intelligence, blockchain, hacker attacks, account takeovers, and other threats to investors. The goal is to protect investor interests, support innovation, and ensure the safety of new technologies. The SEC is also creating a working group to develop a clear regulatory framework for cryptocurrencies, which will contribute to the further development of the industry.
The SEC recognized Bitwise's application to create a spot ETF with XRP, raising the likelihood of approval in 2025, despite criticism from investor Jason Calacanis
The SEC recognized Bitwise's application to create a spot ETF with XRP, which happened this Tuesday. The application was submitted in October, which positively impacted the token's price. Last week, the SEC also acknowledged applications from Grayscale and 21Shares, which became an important event amid the ongoing legal battle with Ripple. While the recognition of the applications does not guarantee the approval of the ETF, the likelihood of its approval in 2025 is now 80 percent, according to the Polymarket platform. However, investor Jason Calacanis expressed doubts, claiming this could lead to "chaos."