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Additionally, Bybit engaged Web3 security firm ZeroShadow for blockchain forensics on Feb. 25. The security firm is tasked with tracing and freezing the stolen Bybit funds and maximizing the recovery.
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On Feb. 25, blockchain analytics firm Elliptic identified more than 11,000 wallets linked to the Bybit hackers.
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A day prior, on Feb. 26, the Hong Kong government’s 2025–26 budget paid special attention to emerging technologies, aiming to “seize the critical opportunities presented by technological reform and artificial intelligence development.”
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The case was eventually settled, with Binance agreeing to pay $2.7 billion and CZ paying $150 million to the CFTC.
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The rumor came from the X account “trenchdiver,” who said in a Feb. 24 post that Pump.fun was working on and testing its own AMM liquidity pools — a feature that would users to trade crypto against liquidity in a smart contract instead of against a counterparty.
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Milei may now face the risk of impeachment after Argentina’s fintech chamber acknowledged that the case may be a rug pull.
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A cryptocurrency businessman and a Los Angeles County Sheriff’s Department (LASD) deputy have admitted to federal crimes, including conspiracy, civil rights violations, and tax evasion.
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Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.
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Of the top 100, the Solana-based memecoin Fartcoin (FARTCOIN) rose over 58% as the week’s biggest gainer, followed by the XDC Network (XDC) token, up over 49% on the weekly chart.
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“Phishing was the most costly attack vector last year,” a CertiK spokesperson told Cointelegraph. “Our figures are conservative, the actual figure is higher when you consider unreported incidents and other types of phishing scams like pig butchering.”
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Su Zhu, co-founder of Three Arrows Capital, was the most notable proponent of the Supercycle Thesis from 2021, arguing that crypto markets would remain in a bull market without a sustained bear market, with Bitcoin eventually peaking at $5 million.
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In November, Tether officially announced the suspension of its euro-backed stablecoin, EURt (EURT), citing community interest. At the time, EURT’s market cap accounted for as low as 0.02% of the USDT’s market value.
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“The purchase, holding of BTC and continuous expansion of BTC reserves is an important strategy of the Group,” Boyaa said in a statement.
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Boyaa Interactive International now has 3,183 Bitcoin in its stash, worth $310.7 million at current prices, according to CoinGecko.
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Boyaa Interactive International, a Hong Kong-based holding company specializing in online card and board games, adjusted its treasury assets by replacing Ether with Bitcoin.
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Meanwhile, chief investment officer at crypto financial services firm Ledn, John Glover, told Cointelegraph that a larger correction could still be possible. However, it is also possible that momentum could continue to the $125,000 area, he said, before adding:
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He added that this was especially true during halving years when “the December returns were +6% in 2012, +31% in 2016, and +47% in 2020 — averaging a remarkable +28%.”
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“Historically, Bitcoin has averaged a +10% increase in December, with blockbuster performances in 2010, 2011, and 2020,” 10x Research founder and CEO Markus Thielen told Cointelegraph.
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Bitcoin reclaimed $98,000 during early trading on Dec. 2, but has retreated below $97,000 since, trading just 3.3% below its Nov. 22 all-time high of $99,645 at the time of writing. Analysts tell Cointelegraph there could be more to come in December.
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“The next months will have insane long opportunities,” he predicted. December has also been a bullish month for BTC historically.
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