Category: Web3

India Arrests Russian-Lithuanian Tied to Crypto Money Laundering Case

Summary:Indian authorities have arrested Aleksej Besciokov, a Russian-Lithuanian citizen, for money laundering and violating U.S. sanctions through his role in the Moscow-based crypto exchange Garantex. The U.S. accuses him of handling illicit transactions worth billions and seeks his extradition. He faces up to 45 years in prison for charges including money laundering and operating an unlicensed financial service. His arrest follows a global crackdown on Garantex, with U.S. authorities seizing domain names and freezing $26 million in related funds.

Indian law enforcement has detained Aleksej Besciokov, a Lithuanian citizen residing in Russia, over allegations of laundering money and breaching international sanctions through the Russian cryptocurrency exchange Garantex. The arrest, a joint operation by the Central Bureau of Investigation (CBI) and Kerala Police, came after a U.S. request for his extradition.

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Authorities caught Besciokov allegedly attempting to flee India. The U.S. Justice Department claims he managed Garantex, a Moscow-based exchange sanctioned in 2022 for processing over $96 billion in transactions tied to cybercriminals, terrorist groups, and drug trafficking networks.

Last week, U.S., German, and Finnish authorities dismantled Garantex’s digital infrastructure in a broader crackdown on illicit crypto activities. Besciokov faces charges of money laundering, violating the International Emergency Economic Powers Act, and operating an unlicensed financial service—offenses carrying up to 45 years in prison.

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Following a U.S. request, India swiftly issued a warrant on March 10. Besciokov will soon appear in court for extradition hearings. Meanwhile, U.S. authorities seized Garantex-linked domains and froze $26 million in related funds. Experts warn that while this is a major victory against illicit finance, similar exchanges often reappear under new identities.

Coinbase Expands Government Partnerships, Delists Tokens for New York Users

Summary: Coinbase is now collaborating with 145 U.S. government agencies and 29 international ones as crypto regulations evolve. The exchange, which safeguards nearly 12% of global crypto assets, plans to expand its workforce by 2025 due to growing institutional demand. Meanwhile, it has delisted FLOKI, TURBO, and GIGA for New York users following a routine review, with trading set to end on April 14. The company remains a key player in institutional and governmental crypto adoption, with strong compliance credentials enabling it to operate across all U.S. states.

Coinbase is strengthening its ties with government agencies, now working with 145 in the U.S. and 29 internationally amid a changing regulatory environment. The exchange has established itself as a major custodian, securing nearly 12% of the world’s crypto assets and serving financial institutions offering spot crypto ETFs.

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CEO Brian Armstrong has signaled plans to hire 1,000 new employees by 2025, citing clearer regulations. After attending a White House crypto summit, he expressed confidence in increasing U.S. investments.

On March 13, Coinbase announced it would delist FLOKI, TURBO, and GIGA for New York users after a review found they no longer met listing standards. Trading will cease on April 14 at 2 PM ET.

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Coinbase remains a trusted partner for institutions and governments, helping them securely trade, store, and use crypto. The company holds key U.S. regulatory licenses, ensuring compliance in all states.

Brazil Eyes Blockchain for BRICS Trade, Moving Away from Joint Currency

Summary: Brazil is prioritizing blockchain to streamline BRICS cross-border trade during its presidency of the bloc, moving away from past discussions about a joint currency. The focus is on improving transaction efficiency rather than challenging the U.S. dollar, especially as concerns over potential trade tariffs grow. Brazil’s central bank has been testing Drex, a tokenized financial infrastructure, though regulatory and privacy hurdles remain.

Brazil appears to be pushing for blockchain-based improvements in BRICS trade, potentially making it a key priority during its year-long presidency of the bloc, which started in January. According to Brazilian newspaper Valor Econômico, the country is shifting focus from discussions about a common BRICS currency to enhancing transaction efficiency.

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Sources close to the talks suggest that Brazil has no plans to create a currency that could compete with the dollar. This comes as former U.S. President Donald Trump has threatened heavy tariffs on nations attempting to move away from the American currency.

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Instead, the strategy may involve integrating blockchain into Brazil’s financial system. The country’s central bank has been testing Drex, a project designed to create a tokenized infrastructure for financial transactions. However, the initiative faces challenges in maintaining both privacy and regulatory compliance.

Pi Network Fans vs. Binance: Fake News Sparks Drama Over Exchange Listing!

Pi Network fans mad at Binance for not listing Pi. Fake news spread about Binance’s rating drop, but it’s false.

Binance, the world’s largest crypto exchange, is under fire from Pi Network fans, aka “Pioneers,” who feel betrayed.

The drama started when Binance ran a poll asking if Pi should be listed. Pioneers got hyped, expecting an actual listing. But Binance hasn’t given any updates, and now, Pi fans are furious.

Some social media users falsely claimed that Binance’s Google Play rating dropped to 1.5 stars because Pi supporters spammed 1-star reviews. But that’s straight-up fake news. Binance’s real rating is still at 4.2 stars.

Binance Rating On Google Play Store
Binance Rating on Google Play Store
Sure, some Pioneers might’ve left bad reviews, but the actual impact is minimal. Binance’s App Store rating did drop from 4.8 to 4.2, but nothing close to the claimed freefall.

Pi fans accuse Binance of using the poll just for social media engagement, not an actual listing. But others in crypto think review-bombing won’t work. One user said, “Stop using Binance’s rating as a hostage to list your coin.”

Meanwhile, Binance remains silent. But let’s be real—bad reviews alone won’t force the biggest exchange to list Pi.

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Polymarket Shows 41% Recession Probability in 2025 as Trump’s Bold Moves Shake Economy

Polymarket projects a 41% chance of US recession in 2025, with Trump’s risky policies fostering economic uncertainty.



Polymarket, the decentralized event trading platform, is now predicting a 41% chance of a US recession in 2025, with Donald Trump making bold moves since his January 2025 inauguration. What started as a joke is now a real trade, with $352k in volume as of March 12. The probability of recession has risen over 21% in a month, and panic is sweeping across the market.

Trump’s economic policies, including sweeping tariffs, mass federal layoffs, and budget cuts, are major headwinds to growth. All this, combined with plunging consumer sentiment and weakening indicators like the Conference Board’s LEI, is contributing to recessionary fears.

Further warning bells were rung with the Atlanta Fed’s negative growth forecast for Q1 this year, the re-inverted yield curve, and nosediving consumer confidence. Economists on X are debating the situation, with Peter Schiff arguing that the US is already in a recession, and it’s only going to get worse.

Schiff warns that investors expecting lower inflation and long-term bond yields as a silver lining may be in for a rude awakening. The US economy’s future remains uncertain.

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Singapore and Vietnam Strengthen Ties with Digital Asset Cooperation

Summary: Vietnam and Singapore have signed a Letter of Intent (LOI) to collaborate on digital asset regulation and the regulation of capital markets. The agreement, signed between the Monetary Authority of Singapore (MAS) and Vietnam’s State Securities Commission (SSC), is intended to facilitate regulatory cooperation as well as the sharing of information.

This partnership will help Vietnam develop its regulatory system for digital assets and deepen cooperation in combating money laundering and counter-financing of terrorism. It is harmonious with the other economic ties between both nations, following an upgrade to Comprehensive Strategic Partnership.

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The signing of the LOI during a Singapore official visit was attended by Singapore Prime Minister Lawrence Wong and Vietnam General Secretary To Lam.

MAS Assistant Managing Director Lim Tuang Lee emphasized cross-border financial interconnectivity as key, while SSC Chair Vu Thi Chan Phuong characterized the agreement as a significant step towards promoting economic cooperation and having transparent financial markets.

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Bitcoin Rallies to $81K as Crypto Market Rebounds

Summary: Bitcoin increased 5.48% in the past 24 hours to $81,946.75 and took its market capitalization to $1.62 trillion. Trading activity also picked up with a 20.14% rise in 24-hour volume to $46.97 billion.

The general crypto market is recovering, with a market value of $2.64 trillion, up 1.84% from yesterday. Ethereum and XRP, other large cryptocurrencies, also registered slight gains.

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This rally follows a recent slide driven by inflation concerns and Trump’s foreign policy initiatives. All expected a rally after the White House Crypto Summit but witnessed prices drop instead. The last biggest price rally came when Trump indicated a U.S. crypto reserve.

And now, with Bitcoin leading the pack, hope is trickling into the markets again. Investors remain hopeful but fingers crossed, waiting to see if this trend holds.

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Chainlink’s Sergey Nazarov on White House Crypto Summit and U.S. Blockchain Leadership

Summary: Chainlink co-founder Sergey Nazarov had his say on the White House Crypto Summit, which was held for the first time at the behest of President Donald Trump on March 7, 2025. The summit reaffirmed the U.S. government’s resolve to position America as the world leader in blockchain and digital assets.

Nazarov highlighted the increasing take-up of stablecoins, whose 2-5% holdings of U.S. treasury market today mean that they can no longer be disregarded by regulators. He further indicated digital asset holdings, awareness among regulators, and greater intersection of DeFi and TradFi into on-chain markets.

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In order to win in the world of crypto, America must build new, regulation-friendly digital assets that can coexist harmoniously on blockchain platforms. Chainlink is a part of this infrastructure with its decentralized oracle network and making proof of reserves and linkages of tokenized assets possible through CCIP.

As regulatory systems take form, the world’s blockchain ecosystem is closely observing how the U.S. will define digital asset innovation, which could become the model for the future of decentralized finance.

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VanEck Files for AVAX ETF, but Token Price Keeps Dropping

Summary: VanEck has submitted an Avalanche (AVAX) ETF filing in the United States, its fourth crypto ETF filing after Bitcoin, Ethereum, and Solana. The move comes as AVAX struggles, declining 55% in 2025 and a further 5% over the last 24 hours to $16.78. Although there were some expecting an XRP ETF to be filed first, VanEck’s action has been controversial. If approved, the AVAX ETF would institutionalize investment and liquidity for Avalanche.

VanEck, an international investment firm, has formally applied for an Avalanche ETF in the United States, joining its line of cryptocurrency investment products. The application, dated March 10, 2025, in Delaware under the number 10125689, reflects VanEck’s efforts to bring more digital asset ETFs to market.

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Avalanche is the latest cryptocurrency for which VanEck has submitted an ETF application to the U.S., following on from Bitcoin, Ethereum, and Solana. VanEck also submitted a Solana ETF last year and is among the first to openly adopt crypto-related investment products.

Avalanche, founded in 2020 by Ava Labs and led by Emin Gün Sirer, is a smart contract and dApps-centric blockchain network. It was among the top 10 cryptocurrencies and is currently 20th with a $7 billion market capitalization.

The timing of VanEck’s application is coincidental with a rough year for AVAX, down 55% this year. The token dipped another 5% in the last day to $16.78. There are some within the crypto community questioning why VanEck opted for an AVAX ETF rather than an XRP ETF.

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VanEck is not alone in seeking crypto ETFs. In October 2024, Grayscale filed a request to convert its multi-coin fund—AVAX holding—into an ETF. If approved, a spot AVAX ETF would increase institutional adoption and liquidity for Avalanche.

Bubblemaps TGE Sees Massive 13,500% Oversubscription

Summary: Bubblemaps (BMT) wrapped up its Token Generation Event (TGE) with a staggering 13,500% oversubscription. Originally intending to offer 40 million BMT tokens for 1,503.42 BNB, the event saw around 202,990 BNB worth of subscriptions. Held on Binance Wallet, the TGE fueled speculation of a potential Binance listing, though no official word has been released. BMT is already listed on leading exchanges like MEXC, Kraken, and Bybit.

Bubblemaps, a blockchain analytics platform, has finished its Token Generation Event for its own token, BMT, with overwhelming subscription orders. The project had reserved 40 million BMT at $0.02 per token to be sold in order to raise 1,503.42 BNB but received some 202,990 BNB worth of subscriptions—13,500% more than expected. The event follows the recent $3.2 million funding round by Bubblemaps led by INCE Capital, Cryptorank.io reports.

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Since TGE was executed on Binance Wallet, there has grown rumor of an impending Binance listing. Even though not made formally public, BMT already finds exchange trading on platforms like MEXC, Kraken, and Bybit.

Bubblemaps provides blockchain analysis as bubble clusters for token and NFT holdings so that users can detect wallet relationships, hidden whales, and suspicious activity. BMT is the native token of Bubblemaps and is both a utility and governance token, with it enabling features on the platform.

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For the tokenomics of BMT, 26.3% is allocated to ecosystem and community, 24.3% to investors, and 22.2% for adoption and early rewards airdrops. Liquidity reserves 12.2%, team receives 9%, and 6% is assigned to protocol development and R&D.

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