In this week’s recap, we explore the launch of Terra’s investor claims portal, President Trump’s latest pardon related to cryptocurrency, and governance challenges faced by Polymarket.
Terra launches investor claims portal
- On March 31, Terraform Labs will debut an online platform for investors to submit claims concerning losses incurred from the Luna (LUNA) token and TerraUSD stablecoin’s collapse.
- Investors are required to file their claims by April 30 at 11:59 p.m. ET via claims.terra.money; late submissions will result in the loss of recovery rights.
Trump grants pardons to BitMEX co-founders
- Former President Donald Trump has granted pardons to three individuals associated with the cryptocurrency exchange BitMEX: ex-CEO Arthur Hayes, Benjamin Delo, and Samuel Reed.
- These executives had earlier admitted guilt to breaching the Bank Secrecy Act due to inadequate anti-money laundering and know-your-customer protocols.
SEC concludes Crypto.com investigation
- Crypto.com announced on Thursday that the Securities and Exchange Commission has officially wrapped up its investigation into the exchange.
- This marks another significant crypto entity to have its SEC scrutiny resolved, following others such as Immutable, Ripple, Coinbase, and “Hawk Tuah Girl.”
Hyperliquid broadens into spot trading
- The decentralized exchange has rolled out capabilities for direct deposits and withdrawals for spot trading, as announced on Thursday.
- The platform also experienced a whale manipulation event earlier this week, where a user shorted the Solana (SOL) meme coin JELLY just as a whale was unloading the token on DEXs.
USDT0 stablecoin expands within Optimism ecosystem
- Tether’s USDT0 stablecoin is now extending throughout Optimism’s Superchain following its recent launch on Kraken’s Ink layer 2 network.
- As per Thursday’s announcement, USDT0 has officially gone live on OP Mainnet, with more rollouts expected soon.
Sam Bankman-Fried relocated
- A Thursday update from the Federal Bureau of Prisons indicates that the former FTX CEO has been transferred to the Oklahoma City Federal Transfer Center.
Wyoming aims to issue state-backed stable token
- Governor Mark Gordon revealed the state’s plans to create its own “stable token” during the Digital Chamber DC Blockchain Summit on Wednesday.
- The Republican governor highlighted Wyoming’s conducive environment for development and efficient government, stating, “we can act quickly and effectively.”
Polymarket acknowledges governance breach
- The crypto prediction market platform informed users that it is aware of a suspected breach affecting one of its betting markets, potentially through manipulation of its UMA oracle provider.
- Between March 24-25, a $7 million wager titled “Ukraine agrees to Trump mineral deal before April?” saw its probability shift strikingly from 9% to 100%, sparking concerns over possible coordinated manipulation in the market.
SEC closes investigation into Immutable
- The SEC has concluded its investigation into Australian crypto firm Immutable, which had received a Wells notice in October.
- This investigation involved Immutable, the IMX Ecosystem Foundation, and the firm’s CEO, with the Wells notice indicating potential charges.
Fidelity seeks to launch Solana ETF
- The asset management giant has submitted a filing with the SEC to create an exchange-traded fund that tracks Solana prices.
- Cboe Exchange has also filed a 19b-4 to list this proposed Solana ETF, following Fidelity’s previous registration of a Solana Fund in Delaware.
Dogecoin Foundation acquires $1.8 million in DOGE
- The Foundation’s business arm, House of Doge, has purchased over 10 million dogecoin as part of a broader strategy to build reserves for DOGE.
- Established in February with a five-year operational commitment, House of Doge aims to establish DOGE as a functional payment currency beyond its status as just a memecoin.
Strategy surpasses 500,000 Bitcoin threshold
- Michael Saylor’s company has acquired an additional 6,911 Bitcoin (BTC) for $584.1 million, averaging $84,529 per token.
- This acquisition brings Strategy’s total Bitcoin reserves to 506,137 BTC, purchased for a total of $33.7 billion at an average price of $66,608 each.