February 2025 - CryptoCurrencyWire

FridayFeb 28, 2025 10:00 am

Crypto Market Loses $110bn as Trump Slaps Tariffs on Canada and Mexico

The cryptocurrency market experienced a sharp decline on Monday, erasing over $110bn in value as Bitcoin (BTC) and altcoins dropped to their lowest levels in weeks. This sudden downturn followed a period of stability and was driven by growing economic concerns and unsettling developments within the crypto asset sector. Leveraged positions lost $882 million as a result of the sell-off, making it one of the biggest liquidations in recent weeks. Over 284,000 crypto traders were forced to exit their trades, with those holding long positions suffering the most severe losses. Bitcoin’s value plummeted from $96,954 to a monthly low of…

ThursdayFeb 27, 2025 10:00 am

Coinbase Says the SEC is Dropping its Case Against the Exchange

Coinbase, the largest crypto exchange in the U.S., announced on Friday that the SEC intends to drop its lawsuit against the exchange. This decision indicates a shift in regulatory approach under the Trump administration, which appears to be more supportive of the industry. In a statement named “Righting a Major Wrong,” Coinbase revealed that SEC officials had reached a preliminary agreement to dismiss the lawsuit that was originally filed during President Biden’s tenure. The lawsuit accused the exchange of operating as an unregistered securities broker. However, the SEC still needs to hold a formal vote to officially drop the case.…

TuesdayFeb 25, 2025 10:00 am

ByBit Suffers $1.5bn Hack, the Largest Heist So Far

Crypto exchange Bybit suffered a major security breach on Friday, resulting in the theft of nearly $1.5 billion worth of Ethereum. The exchange reported that on February 21 at around 12:30 PM UTC, unauthorized access was detected in one of its Ether Cold Wallets during a routine transaction. The transfer was intended to move Ether from Bybit’s EtherMultisig Cold Wallet to its Hot Wallet. However, the transaction was compromised by an advanced cyberattack that tampered with the smart contract’s logic and manipulated the signing interface, allowing the hacker to seize control of the Cold Wallet. As a consequence, more than…

FridayFeb 21, 2025 10:00 am

ESMA Invites Public Input on Draft Standards for Cryptocurrency Service Providers

The European Securities and Markets Authority (ESMA) is inviting public input on proposed standards regarding the knowledge and qualifications required for cryptocurrency service firms. In a consultation paper published on February 17, ESMA introduced new guidelines aimed at ensuring that professionals working for crypto service firms possess the necessary expertise and training to offer guidance or information on digital assets. The goal of these regulations is to establish a baseline level of competency among employees providing such services, reinforcing investor protection and enhancing confidence in the crypto market under the EU’s Markets in Crypto-Assets (MiCA) framework. Given the unpredictable nature…

ThursdayFeb 20, 2025 10:00 am

GameStop Considers Bitcoin, Other Crypto Investments

Video game company GameStop is reportedly looking into investing in Bitcoin and other cryptos. Insiders say GameStop is assessing various investment opportunities, particularly in alternative assets like crypto, with a strong focus on Bitcoin. Following these reports, GameStop’s stock surged by nearly 20%. Despite the buzz, GameStop has not yet made a final decision. The firm is still assessing whether such investments align with its overall business strategy, according to one source familiar with the situation. Further raising speculation, Ryan Cohen, GameStop CEO, posted a photo on X alongside Michael Saylor, the co-founder of MicroStrategy, a company known for its…

WednesdayFeb 19, 2025 10:00 am

SEC Could Pause Many Lawsuits While Awaiting Crypto Regulatory Clarity

Binance and the Securities and Exchange Commission (SEC) jointly requested a pause in their ongoing lawsuit earlier this month. The filing referenced the newly established cryptocurrency task force and the expectation of clearer regulations, particularly regarding whether certain crypto assets should be classified as commodities or securities. The decision to pause legal action against Binance has increased speculation that similar lawsuits involving other crypto firms, initiated under the previous SEC leadership led by Gary Gensler, may also be put on hold. Throughout Gensler’s tenure, the agency faced criticism from policymakers and crypto industry stakeholders, who accused it of exceeding its…

FridayFeb 14, 2025 10:00 am

Hackers Promote Fake Crypto Using Social Media Accounts of Kenyan Police

The Kenyan Directorate of Criminal Investigations (DCI) announced on February 9 that it had successfully recovered access to its Facebook and X accounts which had been compromised by hackers. According to the law enforcement unit, the cybercriminals had used the accounts to promote a fraudulent crypto. Following the recovery of its accounts, the DCI stated that it had launched an investigation into the incident. The agency’s statement confirming the security breach came just hours after the hackers had introduced a cryptocurrency coin named DCI. Reports suggest that the cybercriminals attempted to lure Kenyans by presenting the token as a blockchain…

ThursdayFeb 13, 2025 10:00 am

BTC Demand Soars in Japan on Trump’s Crypto-Friendly Stance

The impact of President Donald Trump’s pro-cryptocurrency stance has triggered a surge in Bitcoin interest in Japan, leading one hotel operator to shift gears and reap substantial gains. Metaplanet Inc. has seen its stock skyrocket nearly 4,800% over the past year, making it the top-performing stock in Japan and one of the highest-gaining equities worldwide, according to Bloomberg data. The firm is among several companies attempting to follow in the footsteps of Michael Saylor’s firm, previously known as MicroStrategy Inc. Based in Tysons Corner, Virginia, the company has become a major Bitcoin investment vehicle, holding over $45 billion worth of…

TuesdayFeb 11, 2025 10:00 am

Why Trump-Linked WLF is Amassing Crypto

World Liberty Financial (WLF) has been making waves with its recent aggressive investments in cryptocurrency. In December, the company acquired over 4,000 AAVE tokens. Then, on Jan. 20, it made another major move, purchasing over $90 million worth of wrapped Ether and Bitcoin. Just last Thursday, the company spent upwards of $400,000 on digital assets issued by Ondo, a leading provider of U.S. tokenized Treasury bonds. Chase Herro, a co-founder of WLF, stressed that the investments were more than just speculative wagers during a Manhattan conference organized by Ondo. Herro also announced plans for a strategic reserve. “We’ve pooled a…

FridayFeb 07, 2025 10:00 am

MAGA Supporters Grumble Against Trump’s Meme Coin

Just days before he was set to take office as the next U.S. president, Donald Trump made a surprising announcement: he was launching a meme coin named after himself. His wife, Melania Trump, soon followed suit with her version. The move caught many in the cryptocurrency industry off guard, leading to immediate criticism. Ethics specialists also raised concerns about the implications of such a venture. While Trump’s core supporters did not react with the same level of outcry, there was still notable discontent. Some within the MAGA movement, particularly those who are also involved in the crypto space, felt uneasy…