Karim

@skkarim2244

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The U.S. Senate has voted 70–28 to repeal a controversial crypto tax rule introduced at the end of the Biden administration. The rule required certain DeFi platforms to report user transactions and issue 1099 forms, sparking concerns over privacy and regulatory overreach. The repeal bill now heads to President Trump, and according to crypto advisor David Sacks, senior White House officials are expected to recommend signing it. If approved, it would mark Trump's first signed legislation on crypto in his current term.

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A governance attack occurred on Polymarket, where a UMA tycoon used his voting power to manipulate the oracle, allowing the market to settle false results and successfully profit. The tycoon cast 5 million tokens through three accounts, accounting for 25% of the total votes. Polymarket is committed to preventing this from happening again.

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Celo mainnet has recently initiated the migration process from L1 to an Ethereum L2, with Celo block production currently paused. Post-migration, Celo will operate as an Ethereum L2, supporting native Ethereum cross-chain bridging functionality, with block time reduced from 5 seconds to 1 second.

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According to CoinDesk, crypto brokerage FalconX has recently experienced a wave of senior-level departures, involving both resignations and layoffs. Between 10 and 15 employees, including the head of Europe, the head of credit, the general counsel, and the global chief compliance officer, have left the company. A FalconX spokesperson stated that the company’s headcount roughly doubled last year

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According to Fox reporter Eleanor Terrett, Ripple has agreed to drop its appeal against the SEC and pay $50 million of the originally ordered $125 million fine. The SEC will also request Judge Torres to lift the “obey the law” injunction imposed on Ripple. Once the Commission votes and the court documents are in order, the SEC vs. Ripple case will be officially concluded.

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David Alexander pointed out that Usual's net deposits once grew to $1.7 billion in 2025, but have since fallen 57%; at the same time, the total supply of the protocol's stablecoin USD0 has fallen 42%, and the price of the native token USUAL has fallen 86% this year.

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IMF has released the seventh edition of its Balance of Payments Manual (BPM7), incorporating Bitcoin and other cryptocurrencies into the balance of payments framework. Classified as non-produced assets, these digital assets are now part of global economic statistics under the IMF's updated standards. The new manual was published on March 20, marking the first inclusion of detailed guidance on digital assets in its global statistical framework.

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According to Fortune, former federal prosecutor Katie Haun is raising two new crypto funds totaling $1 billion, with a planned close in June. The funds, managed by her firm Haun Ventures, will follow the same structure as her 2022 debut, allocating $500 million to early-stage projects and $500 million to late-stage investments.

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Media under the Communist Party of China stated that once the US dollar stablecoin links the international credit of the US dollar more closely with the application scenarios in the virtual world, the US dollar stablecoin may greatly consolidate the US dollar hegemony, and called on China to promote stablecoins and expand the international currency status of the CNY.

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According to Decrypt, the U.S. Department of Justice has dropped charges against Nader Al-Naji, the founder of the decentralized social network BitClout. Last year, the DOJ accused Al-Naji of defrauding investors of $3 million through his crypto project and misappropriating funds for a lavish personal lifestyle. Al-Naji, a former Google engineer, created the BitClout platform, which tokenized Twitter personalities and attracted prominent investors such as a16z and Coinbase Ventures.

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CryptoQuant CEO Ki Young Ju believes that on-chain indicators suggest the Bitcoin bull cycle is over, and prices are expected to follow a bearish or sideways trend for 6-12 months. As new liquidity dries up, new whales are selling Bitcoin at lower prices. He applies PCA to on-chain metrics such as MVRV, SOPR, and NUPL to calculate a 365-day moving average, which is used to identify turning points in the one-year moving average trend. However, some users have pointed out that his sell signal in 2020 was incorrect.

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The U.S. SEC is considering withdrawing its proposal to tighten cryptocurrency custody requirements. Acting SEC Chairman Mark Uyeda stated that, due to serious concerns regarding the rule proposed in February 2023, moving forward with the original proposal faces significant challenges. The rule requires registered investment advisors to have cryptocurrency assets held by qualified custodians and strengthens asset protection measures.

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Telegram founder Pavel Durov stated that after months in France due to an investigation into criminal activities on the platform, he has returned to Dubai. He thanked the investigative judge, lawyers, and his team for their support, noting that the case is ongoing. Pavel Durov was arrested in France last year over a cybercrime investigation and was recently granted permission by a French court to leave the country.

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OKX: After consulting with regulators, we made the proactive decision to temporarily suspend our DEX aggregator services. This move allows us to implement additional upgrades to prevent further misuse. Beyond that, we've already rolled out: A hacker address detection system for its Web3 DEX aggregator, which was launched a few days ago. A system to track the hacker's latest addresses and block them in the CEX system in real-time

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According to Bloomberg, European Central Bank Governing Council member Francois Villeroy de Galhau stated, “The U.S. risks making a grave mistake through negligence. Historically, financial crises often originate in the United States and spread globally. By encouraging the development of crypto assets and non-bank finance, the U.S. government is effectively sowing the seeds of future turmoil.”

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21Shares US LLC announced the liquidation of two bitcoin futures and ethereum futures ETFs on March 28, 2025, following a routine review of its product lineup to align with market dynamics, client needs, and the maturing digital assets landscape. The affected ETFs are ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY) and ARK 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC).

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According to Bloomberg, the U.S. Senate advanced the Republican spending bill in a 62-38 vote, effectively eliminating the risk of a government shutdown. The bill imposes no restrictions, allowing Elon Musk’s government streamlining initiative to proceed and funding federal operations through the September 30 fiscal year-end.

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REX Shares announces the launch of the REX Bitcoin Corporate Treasury Convertible Bond ETF, a first-of-its-kind fund that provides exposure to convertible bonds issued by companies actively incorporating Bitcoin into their corporate treasury. BMAX is the first ETF giving retail investors and investment advisors access to convertible bonds issued by companies integrating Bitcoin into their financial strategy, making it easier to invest in the strategy pioneered by Michael Saylor—leveraging corporate debt to acquire Bitcoin as a treasury asset.

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U.S. Representative Byron Donalds plans to introduce legislation on Friday to codify the executive order signed by President Trump earlier this month, officially establishing a national Bitcoin reserve and digital asset stockpile. The bill aims to prevent future administrations from overturning the reserves via executive action, ensuring the continuation of Trump’s crypto-friendly policies.

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