3 months ago
The blockchain level linked to United States President Donald Trump took the crypto marketplace downturn arsenic an concern opportunity, tripling its Ether holdings successful a week up of the White House’s archetypal Crypto Summit connected March 7.
Meanwhile, Solana was deed by astir fractional a cardinal dollars worthy of outflows successful February arsenic cryptocurrency investors sought safer investments pursuing a question of memecoin scams and rug pulls.
Trump’s WLFI tripled Ether holdings successful a week amid marketplace downturn
The decentralized concern (DeFi) level linked to US President Donald Trump importantly accrued its Ether holdings implicit the past week arsenic the cryptocurrency’s terms concisely dipped beneath $2,000.
Trump’s World Liberty Financial (WLFI) DeFi level tripled its Ether (ETH) holdings implicit the past 7 days arsenic ETH dipped beneath the $2,000 intelligence mark, Cointelegraph Markets Pro information shows.
ETH/USD, 1-month chart. Source: Cointelegraph
Data provided by Arkham Intelligence shows WLFI present holds astir $10 cardinal much successful Ether than a week earlier. Its latest acquisitions besides see an further $10 cardinal successful Wrapped Bitcoin (WBTC) and $1.5 cardinal successful Movement Network (MOVE) tokens.
WLFI token balances history. Source: Arkham Intelligence
Trump’s DeFi level is presently sitting connected a full unrealized nonaccomplishment of implicit $89 cardinal crossed the 9 tokens it invested in, Lookonchain information shows.
Source: Lookonchain
The dip buying came during a play of heightened marketplace volatility and capitalist concerns, driven by some macroeconomic concerns and crypto-specific events, including the $1.4 cardinal Bybit hack connected Feb. 21, the largest exploit successful crypto history.
Solana sees $485 cardinal outflows successful February arsenic crypto superior flees to “safety”
Solana saw astir fractional a cardinal dollars successful outflows past period arsenic investors shifted to what were perceived to beryllium safer integer assets, reflecting increasing uncertainty successful the cryptocurrency market.
Solana (SOL) was deed by implicit $485 cardinal worthy of outflows implicit the past 30 days, with capitalist superior chiefly flowing to Ethereum, Arbitrum and the BNB Chain.
The superior exodus came amid a wider formation to “safety” among crypto marketplace participants, according to a Binance Research study shared with Cointelegraph.
Solana outflows. Source: deBridge, Binance Research
“Overall, determination is simply a broader formation towards information successful crypto markets, with Bitcoin dominance expanding 1% successful the past period to 59.6%,” the study stated.
”Some of the superior flowed into BNB Chain memecoins, driven successful portion by CZ’s tweets astir his dog, Brocolli,” it added.
Beyond Solana, full cryptocurrency marketplace capitalization dropped by 20% successful February, driven by increasing antagonistic sentiment, Binance Research noted.
Alongside macroeconomic concerns, the crypto capitalist sentiment driblet was chiefly owed to the $1.4 cardinal Bybit hack connected Feb. 21, the largest exploit successful crypto history.
Disappointment successful Solana-based memecoin launches has besides curbed capitalist appetite, peculiarly aft the motorboat of the Libra token, which was endorsed by Argentine President Javier Milei.
Trump to big archetypal White House crypto acme connected March 7
US President Donald Trump volition big the archetypal White House Crypto Summit connected March 7, bringing unneurotic manufacture leaders to sermon regulatory policies, stablecoin oversight and the imaginable relation of Bitcoin successful the US fiscal system.
The attendees volition see “prominent founders, CEOs, and investors from the crypto industry,” on with members of the President’s Working Group connected Digital Assets, according to an announcement shared by the White House “AI and crypto czar,” David Sacks, successful a March 1 X post.
The acme volition beryllium chaired by Sacks and administered by Bo Hines, the enforcement manager of the Working Group.
Source: David Sacks
Sacks was appointed White House crypto and AI czar connected Dec. 6, 2024, to “work connected a ineligible model truthful the Crypto manufacture has the clarity it has been asking for, and tin thrive successful the U.S.,” Trump wrote successful the announcement.
Part of Sacks’ relation volition beryllium to “safeguard” online code and “steer america distant from Big Tech bias and censorship,” Trump added.
Source: Donald Trump
Trump has antecedently signaled that helium intends to marque crypto argumentation a nationalist priority and marque the US a planetary hub for blockchain innovation. The upcoming acme whitethorn acceptable the code for crypto regulations implicit the adjacent 4 years.
Crypto VC deals apical $1.1 cardinal successful February arsenic DeFi involvement surges — The TIE
Venture superior backing into blockchain and cryptocurrency startups accelerated successful February, with decentralized concern (DeFi) projects attracting important concern flows, signaling that request for blockchain builders remained beardown amid volatile marketplace conditions.
According to information from The TIE, 137 crypto companies raised a combined $1.11 cardinal successful backing successful February.
DeFi secured astir $176 cardinal successful full backing crossed 20 projects. Meanwhile, 8 concern work providers raised a full of $230.7 million. Startups specializing successful information services, payments and artificial quality besides drew important interest.
Business work providers and DeFi projects attracted the largest investments successful February. Source: The TIE
The biggest task superior investors targeted “multiple sectors, including cardinal narratives specified arsenic AI, Developer Tools, DeFi, DePIN, Funds, and Payments,” The TIE said.
The information is accordant with Cointelegraph’s caller reporting, which showed a ample uptick successful decentralized carnal infrastructure web (DePIN) deals.
Bybit hacker launders 100% of stolen $1.4 cardinal crypto successful 10 days
The Bybit exploiter has laundered 100% of the stolen funds aft staging the biggest hack successful crypto history, but immoderate of the loot whitethorn inactive beryllium recoverable by blockchain information experts.
On Feb. 21, Bybit was hacked for over $1.4 billion worthy of liquid-staked Ether (STETH), Mantle Staked ETH (mETH) and different ERC-20 tokens, resulting successful the largest crypto theft successful history.
The hacker has since moved each 500,000 stolen Ether (ETH), chiefly done the decentralized crosschain protocol THORChain, blockchain information steadfast Lookonchain reported successful a March 4 station connected X:
“The #Bybit hacker has laundered each the stolen 499,395 $ETH($1.04B currently), chiefly done #THORChain.”
Source: Lookonchain
North Korea’s Lazarus Group has converted the stolen proceeds contempt being identified arsenic the main culprit down the onslaught by aggregate blockchain analytics firms, including Arkham Intelligence.
The quality comes implicit 2 months aft South Korean authorities sanctioned 15 North Koreans for allegedly generating funds for North Korea’s atomic weapons improvement programme done cryptocurrency heists and cyber theft.
DeFi marketplace overview
According to information from Cointelegraph Markets Pro and TradingView, astir of the 100 largest cryptocurrencies by marketplace capitalization ended the week successful the green.
Of the apical 100, the Cardano (ADA) token roseate implicit 46% arsenic the bigger gainer successful the apical 100, driven by the token’s inclusion successful Trump’s upcoming Digital Asset Stockpile. Bitcoin Cash (BCH) roseate implicit 40% arsenic the second-biggest gainer implicit the past week.
Total worth locked successful DeFi. Source: DefiLlama
Thanks for speechmaking our summary of this week’s astir impactful DeFi developments. Join america adjacent Friday for much stories, insights and acquisition regarding this dynamically advancing space.
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