Crypto Weekly Roundup: Trump Courting Binance US, Ethereum Launches New Testnet, & More
Last week, both Rumble and Metaplanet invested heavily in Bitcoin while the U.S. Congress overturned the much controversial “Broker Rule,” a remnant from the Biden era. Additionally, Coinbase was also in the news as it has re-entered the Indian market after exiting it nearly two years ago. The firm’s CEO Brian Armstrong has also declared mass hiring plans, crediting the pro-crypto government of President Donald Trump. Let’s read more.
Bitcoin
Nasdaq-listed video-sharing and cloud infrastructure company Rumble has reinforced its treasury diversification strategy by announcing the acquisition of 188 Bitcoin (BTC) for approximately $17.1 million.
Japanese investment firm Metaplanet’s stock jumped over 8% following its latest purchase of 162 BTC, reaffirming its aggressive accumulation strategy and commitment to expanding its crypto holdings.
Ethereum
After several configuration issues on the Sepolia and Holesky testnets, the Ethereum Foundation has announced the launch of a new testnet to complete testing the Pectra upgrade and demonstrate the code update a final time before deployment.
A leveraged Ethereum trade on Hyperliquid resulted in a rare outcome where a whale secured profits despite being liquidated, while the platform’s liquidity pool absorbed a multi-million dollar loss.
Business
The Wall Street Journal has reported that members of former President Donald Trump’s family have engaged in discussions to acquire a financial interest in Binance.US, the American affiliate of the world’s largest cryptocurrency exchange
Coinbase CEO Brian Armstrong has declared that the company has plans to hire 1,000 new employees in the U.S., citing President Trump’s pro-crypto stance and policy shifts as key drivers behind the decision.
Security
Hardware wallet provider Trezor has resolved a security flaw in its Safe 3 and Safe 5 hardware wallets following a disclosure by rival Ledger, which uncovered a way to bypass some of Trezor’s existing countermeasures against supply chain attacks.
Regulation
Finance officials in the European Union are worried US President Donald Trump’s pivot towards digital assets could impact the Eurozone’s financial and monetary stability.
Crypto exchange Coinbase announced that it has registered with India’s Financial Intelligence Unit (FIU) and received approval to offer crypto trading in the country after it left the region nearly two years ago due to regulatory issues.
On March 11, the US House of Representatives and the Senate voted to overturn the Biden Administration’s controversial “Broker Rule,” which compelled IRS disclosure requirements for certain crypto brokers, relieving excessive burdens on digital asset transactions.
A new report by Dragonfly revealed U.S. users were excluded from billions in crypto airdrops due to regulatory geoblocking, leading to significant financial and tax revenue losses.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
