Author: Teererai Mukonavanhu

Article written by Teererai Mukonavanhu

South Korean regulators impose a three-month partial suspension on Upbit

February 27, 2025 1 min read

South Korean regulators have suspended Upbit, a major crypto exchange, for three months. This action is because of compliance issues, like unregistered transactions and customer verification problems. The suspension runs from March 7 to June 6, 2025. New users can’t transfer virtual assets right now. Existing users can keep trading freely. Regulators discovered Upbit’s links to unregistered virtual asset companies. They did not meet AML and KYC standards. Upbit is

Pi Network addresses controversy over its legitimacy

February 23, 2025 1 min read

Pi Network faced controversy recently due to accusations from Bybit CEO Ben Zhou. Zhou claimed that a warning from Chinese police in 2023 indicated Pi Network was involved in fraud. He alleged that the project targeted early investors and compromised user data. As a result, the value of PI Coin dropped by over 50%. Many early adopters sold their holdings after the mainnet launch. In response to these claims, Pi

Nigeria sues Binance for $81.5 billion

February 20, 2025 1 min read

Nigeria has filed an $81.5 billion lawsuit against Binance. The lawsuit accuses the crypto exchange of tax evasion, money laundering, and violating foreign exchange laws. It includes $2 billion in back taxes and additional penalties. Binance has not yet responded to these allegations. However, reports suggest that the company plans to contest the lawsuit. This legal battle is not new for Nigeria and Binance. In 2024, Nigeria accused Binance of

Coinbase launches Proof of Reserves for cbBTC

February 20, 2025 1 min read

Coinbase has launched Proof of Reserves (PoR) for its cbBTC token. This initiative aims to reassure users that each cbBTC is backed 1:1 by Bitcoin. The move addresses concerns about transparency and centralized control in the crypto sector. According to the PoR data, Coinbase holds 26,525.15 BTC to back a supply of 26,461.05 cbBTC tokens. These tokens are distributed across various networks. Ethereum has the largest share with 16,080 cbBTC.

HyveDA raises $50 million

February 16, 2025 2 mins read

Hyve, a middleware data availability protocol, has achieved a significant milestone by securing $50 million in pre-deposits from early contributors in just two weeks. This event coincided with the launch of the Symbiotic mainnet on January 28th, which initiated the pre-deposit phase for HyveDA’s data availability solution. Within four hours, the total value locked reached $25 million, and it eventually hit the maximum deposit cap, despite a downturn in the

CZ’s pet Broccoli sparks meme coin frenzy

February 15, 2025 1 min read

Changpeng Zhao, known as CZ and the former CEO of Binance, recently shared the story of his dog, Broccoli. This Belgian Malinois was named after CZ’s love for dogs and cryptocurrency. The post about Broccoli sparked a frenzy in the meme coin market. What started as a simple photo on X quickly led to the creation of dog-themed meme coins. Although CZ stated he was not launching a coin, the

Holonym foundation Acquires Gitcoin Passport

February 11, 2025 1 min read

The Holonym Foundation has acquired Gitcoin Passport to create a leading Proof of Humanity solution. This move will allow Human.tech to distribute 34.5 million zero-knowledge (ZK) credentials to Gitcoin Passport’s 2 million users. This is expected to produce over three times the identity proofs of Worldcoin. With this acquisition, Holonym Foundation aims to become a leader in Sybil detection and privacy-focused on-chain reputation. They plan to merge their Human Key

Blackrock (BLK) plans on listing a bitcoin exchange traded product (ETP) in Europe

February 6, 2025 1 min read

BlackRock, the largest asset management firm in the world with over $10 trillion in assets under management, is planning to launch a bitcoin exchange-traded product (ETP) in Europe. This news was reported by Bloomberg. The new fund will be based in Switzerland, and BlackRock may start marketing it as early as this month. This will be BlackRock’s first crypto-linked ETP outside the United States. Their U.S.-based iShares Bitcoin ETF has

President Trump’s new order launches a U.S. sovereign wealth fund

February 6, 2025 1 min read

President Donald Trump has signed an executive order to create a sovereign wealth fund, exciting Bitcoin supporters. This order instructs the Treasury and Commerce Departments to devise a plan within 90 days. The fund aims to enhance financial security, lower taxes, and boost the US economy. Sovereign wealth funds are government-managed investment funds that handle surplus money, often from trade or resource revenues. They invest in various assets like stocks,

Ethereum whale secures $16.8M profit with a 50x short position

February 2, 2025 1 min read

An Ethereum whale made a significant profit of $16.8 million by shorting ETH just before a price drop. The whale used a 50x short position to take advantage of Ethereum’s 5% decline during a wider crypto market sell-off. At one point, ETH fell to $3,050, leading to over $81 million in liquidations for long positions. Currently, Ethereum is priced at $3,065.40, showing a 5.76% decrease in the last 24 hours.

Pro-crypto Super PAC Fairshake raises $116 million for the 2026 midterms

February 1, 2025 2 mins read

Fairshake, a pro-crypto Super PAC, has raised $116 million for the 2026 midterm elections. Major donors like a16z, Coinbase, and Ripple have significantly increased their contributions. This funding aims to influence the political landscape in favor of cryptocurrency. The specific Senate races Fairshake will target remain uncertain. However, the political climate has changed. After Kamala Harris lost despite supporting crypto, anti-crypto sentiment in Congress has decreased, although some opponents still

Pump.fun gets a class action lawsuit for violating U.S. securities laws

February 1, 2025 1 min read

Pump.Fun, a memecoin launchpad and trading platform, is facing a class action lawsuit for violating U.S. securities laws. The lawsuit claims that Pump.Fun offered risky unregistered securities to users and made around $500 million from fees. Diego Aguilar filed the lawsuit in a New York court, alleging that the platform’s activities do not comply with U.S. securities regulations. The lawsuit also names several officers from Baton Corporation, a UK-based company