Category: Web3

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.

Nasdaq Goes 24/5: Stocks Are Catching Up to Crypto’s Non-Stop Trading

Nasdaq plans 24/5 trading by 2026. Crypto’s 24/7 model pushed this shift. Wall Street’s waking up—markets are never sleeping.

Big moves from Nasdaq Inc.—they’re gearing up to let stocks trade 24 hours a day, five days a week by late 2026. Of course, it all depends on regulators, but if they get the green light, Wall Street’s traditional schedule is getting a major update.

Why? Because investors worldwide hate waiting for markets to open. Nasdaq’s Tal Cohen says 24/5 trading means more access for everyone, not just Wall Street elites. But, there’s a catch—late-night trading could be wild with price swings and higher costs due to lower liquidity.

And Nasdaq isn’t alone. Cboe Global Markets is also going 24/5, while NYSE wants 22-hour trading days. Tech upgrades are in the works to handle the non-stop flow.

Crypto led the way. Bitcoin never sleeps, and neither do its traders. When Trump announced a U.S. Crypto Reserve on a Sunday, stock traders were stuck waiting while crypto markets reacted instantly.

Eric Trump flexed: “Traditional finance better catch up or die.” Nasdaq clearly got the message.

Stock markets are entering the no-sleep era. Crypto’s influence is undeniable. Ready for round-the-clock trading? Wall Street finally is.

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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.

FAFO Memecoins Take Over Pump.Fun After Elon Musk’s Tweet

Summary: A single tweet by Elon Musk has spawned a torrent of FAFO-themed memecoins on Pump.Fun. The insanity began when Musk half-jokingly suggested that “FAFO” could be the DOGE enforcement wing. There have been hundreds of FAFO tokens since then, most with small market caps and no trading volume. While some traders try to capitalize on the hype, history shows these coins rarely hold lasting value.

Elon Musk has once again set off a memecoin frenzy. On February 23, he jumped into a discussion on X about renaming DOGE as the “Federal Agency for Financial Oversight (FAFO).” Musk quipped, “Maybe FAFO can be the enforcement arm of @DOGE.” That single tweet was enough for memecoin creators to flood Pump.Fun with FAFO-themed tokens.

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Since then, numerous FAFO memecoins have launched, including:
– FAFO (FAFO) – Peaked at a $349,494 market cap with $230K in trading volume.
– F**k Around & Find Out (FAFO) – $48,045 market cap, but zero volume.
– FederalAgencyFinancialOversight (FAFO) – $8,888 market cap, no volume.
– Fafo (FAFO) – $8,134 market cap, no volume.

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This isn’t the first time X-driven hype has fueled memecoin mania. When Kash Patel was rumored as the next FBI director, Pump.Fun was flooded with fake coins using his name. While some traders try to ride the wave, most of these tokens have little real value.

TradeSta Partners with Avalanche for Perpetual Trading on Crypto and RWAs

Summary: TradeSta has teamed up with Avalanche to introduce rapid, low-fee perpetual trading of cryptocurrencies, real-world assets (RWAs), commodities, and metals. The partnership utilizes Avalanche’s C-Chain for immediate transactions and smooth execution without undue latency and fees on other platforms. TradeSta is launching its MVP with early access incentives, including a $25 token reward and eligibility for future airdrops. This phase is concerned with connecting legacy finance and DeFi and increasing usage applicability for perpetual contracts. Avalanche perpetual leverage trading is introducing Avalanche perpetual leverage trading by DeFi trading platform TradeSta with agility and low-cost transactions in crypto, RWAs, metals, and commodities. With the use of Avalanche’s C-Chain’s near-instant finality, TradeSta aims to nullify high fee and poor performance encountered in bottlenecked networks.

To put adoption on the right track, TradeSta is launching its MVP via an early access program. Members receive $25 in non-transferrable tokens and can receive subsequent airdrops in exchange for feedback. This builds a tight-knit trading community with seamless platform development.

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Beyond crypto, TradeSta is innovating perpetual contracts by merging RWAs and commodities. This aligns with the new trend of tokenized assets, which could bring traditional finance together with DeFi.

With leverage of up to 100x on major assets and future plans to include additional Avalanche-native protocols, TradeSta’s integration with Avalanche could redefine decentralized trading.

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As of March 5, 2025, AVAX is trading at $20.76, an increase of 5.48% over the day, a high of $21.28 and a low of $18.98, and its volume over the last 24 hours is $609 million.

TRUMP Developer Wallet Deploys $2M Liquidity—What It Means for the Price

Summary: A wallet belonging to the TRUMP meme coin creator has inserted $2 million worth of range liquidity on Meteora DEX, which forms a price range between $12.7 and $17.9. The step will keep the token price within the range stable by purchasing TRUMP as long as liquidity is present. Despite speculations by some that it means TRUMP is unable to break outside these levels, the price is not technically limited. The move suggests developers think this range is fair value, with potential sell-offs at the top end. One of the wallets belonging to the developer of the TRUMP meme coin has added liquidity on Meteora DEX between $12.7 and $17.9, where the TRUMP-USDC pair is actively traded.

This means the wallet will continue buying TRUMP within this range until the allocated $2 million runs out.

Blockchain analytics firm Arkham Intelligence highlighted the move, noting the address has already accumulated $170,000 worth of TRUMP tokens. Since the wallet received TRUMP directly from the developer’s main address, it is assumed to be one of the developer’s wallets.

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This strategy suggests developers perceive this range of prices as an affordable value. Others are expecting TRUMP to fail to move above these levels in the public, but this is not the case. Nevertheless, as price levels approach $17.9, there may be a selling off, but at $12.7 it would be a support.

TRUMP, released on January 18, 2024, previously traded as high as $74 following the announcement by Donald Trump when his inauguration term started.

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