Tag: Blockchain

Ethereum Falls Below $2,000 as Market Reacts to Trump’s Bitcoin Move

Summary: Ethereum dipped below the important $2,000 mark, losing 5.5% over 24 hours and its weekly decline to nearly 20%. The market decline follows an Executive Order signed by then-U.S. President Donald Trump establishing a Strategic Bitcoin Reserve. With increasing institutional investment in Bitcoin, governments’ inability to make outright buys infuriated traders, leading to a broad crypto sell-off.

Ethereum hit $1,999 during Monday’s Asian session, holding off key levels. The analysts say ETH has not been able to breach long-term resistance levels, with the quarterly SuperTrend indicator being one significant barrier. ETH could continue falling to $1,105 if demand stress continues.But on-chain data shows that large investors have been purchasing ETH, with over 330,000 ETH purchased within the past 48 hours.

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Despite the bearish signals, a potential Wyckoff reaccumulation phase suggests a potential rally in the near term. To change bullish, Ethereum needs to reclaim $2,125, which can push it up to $2,359. Maintaining current support levels is crucial in preventing further drops.

FIFA Explores Launching Its Own Cryptocurrency Token

Summary: FIFA President Gianni Infantino has signalled the possibility of introducing a FIFA cryptocurrency token, with the U.S. market being prioritized. During his speech at President Trump’s White House Crypto Summit, Infantino mentioned FIFA’s interest in using blockchain for fan engagement. Though news is scarce, the announcement caused a stir, sending a massive boom to an unrelated token named “FIFA.” The move comes amidst broader cryptocurrency initiatives under the Trump administration, including the establishment of a U.S. Strategic Bitcoin Reserve.

FIFA President Gianni Infantino has hinted that the organization could develop its own cryptocurrency token in order to attract its global fans.

Infantino addressed at President Trump’s White House Crypto Summit and stated that FIFA is “very, very interested” to launch a FIFA coin, perhaps originating from the U.S. He invited potential partners to come on board and work with him on the token, hyping the scope of the coin among the sport’s 5 billion fans.

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Trump adopted the idea, adding jokingly that “the coin could be worth more than FIFA itself in the end.” No official details or timeline were provided, but the announcement is a sign of FIFA’s growing interest in blockchain technology for revenue and fan interaction.

Following the summit, market volatility caused a 357,000% surge in an independent token named “FIFA,” which briefly hit an $8.2 million market cap. The token is not officially related to FIFA, though.

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The controversy comes as FIFA prepares for the 2026 World Cup, to be hosted by the U.S., Canada, and Mexico. It also comes on the heels of new crypto initiatives under the Trump administration, including a U.S. Strategic Bitcoin Reserve.

Power Slap Partners with VeChain to Stream Global Events on YouTube

Summary: Dana White’s Power Slap has entered into a multi-year partnership with VeChain to expand the sport globally. VeChain will be the official sponsor and cryptocurrency of Power Slap competitions, which will be live streamed on YouTube. The first event under this deal, “VeChain Power Slap 12,” will take place on March 7, 2025, in Las Vegas. VeChain branding will be featured on broadcasts, athlete equipment, and marketing materials. Both entities are dedicated to taking the sport to the next level, with potential future incorporations of UFC. Power Slap and VeChain have announced a massive partnership to live stream slapping championship competitions globally on YouTube.



UFC CEO and Power Slap creator Dana White and VeChain CEO Sunny Lu made the announcement. Under the agreement, VeChain is designated as the official sponsor and cryptocurrency of Power Slap events, another step in the expansion of its sports sponsorships.

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The initial event under this alliance, “VeChain Power Slap 12: Quinones vs. Bordeaux 2,” takes place on March 7, 2025, in Las Vegas and will stream live and for free on YouTube. VeChain branding will be exposed on broadcasts, athlete gear, and marketing materials.

Lu sees Power Slap’s grassroots growth as similar to blockchain’s decentralized expansion. White, however, believes that VeChain’s support will propel Power Slap to greater heights, having already gained over 22 million social media followers and 13 billion views.

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The partnership can go further, with planned integrations such as UFC and the UFC Foundation. VeChain previously partnered with UFC in 2022 and renewed its partnership in 2024 with the VeBetter initiative.

Alexis Ohanian Joins Bid to Acquire TikTok U.S. and Move It On-Chain

Summary: Reddit co-founder Alexis Ohanian has joined forces with a bid by Frank McCourt to acquire TikTok’s American operations. The offer, if approved, would combine blockchain technology, giving users more control of their data. Ohanian, a social media and technology icon, will serve as the bid’s strategic advisor.

McCourt anticipates that Ohanian’s experience will help him justify and sell the initiative. Project Liberty, McCourt’s initiative, envisions TikTok’s future as more decentralized and creator-driven. China-based ByteDance’s control of TikTok has spurred regulatory scrutiny, so a restriction is more likely in the U.S. Having Ohanian on board gives the cause legitimacy, in line with his earlier investments in Instacart, Patreon, and OpenSea.

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Reddit co-founder Alexis Ohanian has admitted his involvement in a bid to acquire TikTok’s U.S. business. It seeks to flip the platform over to blockchain if the bid goes through.

The addition of Ohanian was after validation that he has partnered with Frank McCourt’s bid. McCourt is behind Project Liberty that envisions TikTok’s possibilities being transplanted into a decentralized space where its users possess complete ownership of the data.

McCourt hired Ohanian, stressing his strong experience with social media and its evolution. He indicated that Ohanian’s responsibility will be to legitimize and sell the project, specifically in demonstrating its technical feasibility.

ByteDance-owned TikTok has been the target of regulatory challenges in the U.S., such as temporary prohibition. Regulational issues have led to speculations on likely curbs.

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Ohanian’s previous investments also include high-profile tech startups such as Instacart, Patreon, and OpenSea. His involvement in this bid suggests heightened interest in integrating blockchain into mainstream social platforms.

SBF Talks Prison Life, Says Diddy Has Been Kind to Him

Summary: In a recent interview, Sam Bankman-Fried opened up about life behind bars, calling it “soul-crushing” and revealing his unexpected interactions with fellow inmate Sean “Diddy” Combs. He shared insights on prison dynamics, surprising chess skills among inmates, and the reality of being a high-profile prisoner.

Sam Bankman-Fried, the disgraced FTX founder, gave a rare prison interview with Tucker Carlson, discussing his daily life, the harsh reality of incarceration, and his unexpected encounters with Sean “Diddy” Combs.

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Diddy, the well-known rapper and businessman, is currently in prison due to ongoing legal troubles, including multiple lawsuits and serious allegations. Despite their vastly different backgrounds, Bankman-Fried described him as being “kind” to fellow inmates, including himself.

Reflecting on his 25-year sentence for one of the biggest financial frauds in history, Bankman-Fried described prison as a place no one wants to be in, calling it “soul-crushing.” He noted that small acts of kindness matter, but he doesn’t view prison as a place for socializing.

When asked about how inmates perceive him and Diddy, he admitted it was an interesting dynamic but didn’t dwell on it. One of his biggest surprises has been the impressive chess skills of his fellow prisoners, including former armed robbers who barely speak English.

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His account offers a rare glimpse into life behind bars for high-profile inmates, where unexpected alliances and everyday survival shape their experience.

Crypto Market Hit by $390M Liquidations After Trump’s Executive Order

Summary: The crypto market faced a sharp downturn, leading to $390 million in liquidations within 12 hours. Bitcoin saw the biggest losses, with traders losing over $206 million, while Ethereum, XRP, Solana, and Cardano also suffered declines. The market cap dropped 4.5% to $2.88 trillion, with uncertainty growing after Trump’s latest executive order.

The cryptocurrency market took a major hit, with $539 million wiped out in liquidations over the past 24 hours. Around 156,000 traders were affected as prices plunged following an executive order from former US President Donald Trump.

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In just 12 hours, nearly $390 million in positions were liquidated, with long traders suffering the most—losing over $305 million. The biggest single liquidation occurred on Bitfinex, where a $15.4 million trade was completely wiped out.

Bitcoin traders bore the brunt, facing $206 million in liquidations. Long positions accounted for $151 million in losses, while short traders lost $54 million. Bitcoin’s price dropped about 5%, settling around $87,627.

Ethereum also saw heavy losses, with nearly $48 million in liquidations as its price fell over 6% to $2,156. XRP, Solana, and Cardano weren’t spared, with total liquidations of $16 million, $14 million, and $12 million, respectively. Cardano’s price suffered the worst drop, plunging over 10% to $0.86.

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With the total market cap now at $2.88 trillion—down 4.5% in just one day—traders are bracing for further volatility, uncertain whether this signals a deeper market decline or a buying opportunity.

Sam Bankman-Fried Turns 33 in Jail, Claims Strong GOP Ties in New Interview

Summary: In a behind-bars interview, FTX’s former CEO Sam Bankman-Fried spoke about his political affiliations, life in prison, and ongoing court theatrics. He claimed to be nearer to Republicans than everyone assumed and stood up for former colleague Ryan Salame. Bankman-Fried’s legal team is appealing his 25-year sentence while his parents seek a presidential pardon.

Sam Bankman-Fried marked his 33rd birthday in prison with a candid interview, reflecting on his conviction, political ties, and life behind bars. Speaking to Tucker Carlson on March of this year, the former FTX CEO insisted he wasn’t a criminal and argued that charges against ex-colleague Ryan Salame were politically driven due to Salame’s Republican affiliations.

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Despite his well-known donations to Democrats, Bankman-Fried claimed he had a better relationship with Republicans in Washington than the public realized. He is currently serving a 25-year sentence at Brooklyn’s Metropolitan Detention Center, where he mostly eats rice and beans and has had no contact with former FTX employees.

Sorry for those colleagues who collaborated with prosecutors, he maintained that the majority had no choice but to comply. His attorneys appealed, and his parents are said to be pursuing a potential presidential pardon by Donald Trump.

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The 2022 FTX collapse led to multiple convictions, with Bankman-Fried now awaiting the outcome of his appeal as legal processes continue.

Solana’s DeFi Grows 2,400%, But Ethereum Still Leads in Value

Summary: Solana DeFi protocol is flourishing with its charges increasing by 2,400% in a year as compared to 150% on Ethereum. Its DeFi tokens are still undervalued at 9x median multiple against Ethereum’s 18x, reports a Franklin Templeton report.

Even with Solana’s breakneck growth, Ethereum still leads with Layer-2 networks such as Arbitrum and Optimism relaxing congestion and reducing fees. While Solana keeps demonstrating resilience, the market will likely alter its valuation sooner rather than later.

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Solana’s DeFi scene is growing at breakneck speed, with revenue soaring 2,400% in just a year. Yet, according to a Franklin Templeton report, its DeFi tokens are still priced much lower than Ethereum’s.

The study contrasted top DeFi initiatives from each of the two chains—Lido, Aave, Maker, and Uniswap for Ethereum, and Jito, Jupiter, Kamino, and Raydium for Solana. While as genuine as Solana’s DeFi boom, its initiatives boast a median valuation multiple of 9x, in contrast to Ethereum’s 18x.

Ethereum’s Layer-2 networks, including Arbitrum and Optimism, continue to reduce congestion and fees, cementing its market dominance. But should Solana continue growing at the same pace, its DeFi tokens will be catching up very shortly.

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DeFi is in the process of developing quickly, with Solana gaining ground as Ethereum plays catch-up. If Solana will be able to fully close the gap remains to be seen, but its rise is impossible to overlook.

Emirates NBD Opens Crypto Trading for Liv Users in Dubai

Summary: Dubai’s biggest bank, Emirates NBD, now lets customers of its digital bank, Liv, trade crypto via the Liv X app. Partnering with Aquanow, a VARA-approved firm, the move taps into the UAE’s booming crypto market.

As world banks jump on the crypto bandwagon, Italy’s Intesa Sanpaolo recently made its first-ever Bitcoin buy and Switzerland’s PostFinance AG began Ethereum staking. Bitcoin’s rollercoaster, peaking at $109,241 and then dropping to $91,520, fuels the frenzy.

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Liv’s crypto platform is driven by Aquanow technology, and assets are held by Zodia Custody. As the Dubai crypto market picks up, regulations tighten to protect investors.

Emirates NBD has entered the crypto space, allowing Liv customers to buy, sell, and swap cryptocurrencies on the Liv X app. Joining forces with Dubai VARA-approved digital asset company Aquanow, the bank is hoping to catch the UAE’s high level of crypto adoption.

Banks globally are also taking note. Italy’s Intesa Sanpaolo recently bought Bitcoin, and Switzerland’s PostFinance AG introduced Ethereum staking.

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Bitcoin’s surge to $109,241 on Jan. 20, and then the drop to $91,520, has been keeping traders on the edge. In the meantime, Dubai regulators are clamping down on crypto advertisements to protect investors.

As major banks are opening their doors to cryptocurrency, mainstream adoption is more of a reality than ever before. Will more banks join the bandwagon?

Kaia’s Mini DApps Surge Past 35M Users, $2M Spent in Weeks

Summary: Kaia’s Mini DApps, which are incorporated into LINE Messenger, have acquired 35 million users in just one month. There has been in-app purchase for $2 million, with an average spend of $39. The platform is performing exceptionally well in Japan, Taiwan, Thailand, and Korea, which are the markets with high in-app spending.

Kaia’s blockchain has added 7.37 million new wallets, a 1,168% jump, making it the third-largest EVM chain for active wallets. Monthly transactions rose 124% to 27.38 million, while active users on the chain grew 252% to 8.1 million.

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Kaia and LINE NEXT are bridging Web2 and Web3, making blockchain feel seamless for LINE’s 196 million users. Next, Kaia plans to launch its own USD stablecoin for smoother transactions.

Kaia’s Mini DApps, running on the Kaia blockchain and integrated into LINE Messenger, have skyrocketed past 35 million users just one month after launch. Since January 22, users have spent $2 million, with each paying user averaging $39, and 13% opening their wallets.

The DApps are thriving in Japan, Taiwan, Thailand, and Korea, where in-app purchases are especially popular. Asians spend an average of 40% more on these kinds of purchases than others, so the region is a prime target market for Web3 adoption.

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LINE Messenger Dapp Portal has fueled astounding growth, obtaining 3 million of Kaia’s 7.37 million new digital wallets—a staggering 1,168% increase. Monthly transactions jumped 124% to 27.38 million, and users on the Kaia blockchain jumped 252% to 8.1 million.

Youngsu Ko, CEO at LINE NEXT, sees this as proof that Web3 is going mainstream since increasingly more DApps are in the pipeline for token listings. Chairman of Kaia DLT Foundation Dr. Sam Seo highlights how Mini DApps are driving profitable growth and scaling Web3.

Next, Kaia will introduce a USD stablecoin to simplify payments and allow builders to cash out using $KAIA and fiat-backed stablecoins. This is another step towards making blockchain payments a part of everyday life in Asia’s leading messaging platforms.

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