Category: Web3

SEC Drops Case Against OpenSea NFT Marketplace, No Charges Filed

SEC dropped its case against OpenSea, calling off NFT securities claims. Crypto fam sees it as a huge win for Web3.

Big W for NFTs—SEC just dropped its case against OpenSea, meaning no charges for the massive NFT marketplace. OpenSea’s founder, Devin Finzer, called it a win for the entire space after revealing the news on Feb 21.

This comes right after the SEC also backed off from a lawsuit against Coinbase, where they accused the exchange of running as an unregistered securities broker. OpenSea got hit with a Wells Notice last year, meaning legal action was on the table, but now? SEC is walking away.

The NFT world is celebrating, with Magic Eden’s Chris Akhavan calling it a win for the industry. Even crypto figure Beanie said it brings much-needed regulatory clarity.

Meanwhile, OpenSea isn’t slowing down. The platform is dropping its new SEA token soon, though the exact date is still unclear. But not everyone’s happy—some users have been roasting OpenSea’s recent airdrop rewards, saying it encouraged wash trading and ignored creators.

The SEC staying hands-off on NFTs could mean a regulatory shift, but they haven’t officially explained why they dropped the case. Either way, Web3 just dodged a bullet.

Also Read: Vitalik Buterin Frustrated with Ethereum’s Growing Casino Culture

Kanye West Announces Plans to Create His Own Blockchain

Kanye’s diving into crypto, planning “YZYCHAIN,” but backlash hit after he mentioned “Swasticoin.” Token drop next week—70% for himself.

Kanye West is back in the headlines, and this time it’s all about crypto. Ye just announced plans to launch his own blockchain, supposedly called YZYCHAIN, aiming to build his own digital empire instead of relying on existing platforms.

He dropped the news on X, sharing texts from someone named Edward, who hyped him up, saying he’s got the influence to make it happen. The idea? Fork Solana or Dogecoin and let users mine tokens to power the network.

But things got messy real quick. Ye went off on memecoins, calling them fake, and then suggested launching a token called “Swasticoin”—which, yeah, is as bad as it sounds. This sparked major backlash, especially given his history of controversial takes.

Ye’s been checking out different blockchains like Ethereum, Solana (which he spelled “Solona”), BNB Chain, and Hyperliquid. He also tried linking up with Binance co-founder CZ, who just hit him with a thinking emoji.

Word is, Ye’s dropping a token next week, with 70% of the supply going straight to him. Whether this actually happens or is just another wild Ye moment, only time will tell.

Also Read: Breaking: Bybit Hit by Massive Hack, $1.5 Billion in Crypto Stolen

Breaking: Bybit Hit by Massive Hack, $1.5 Billion in Crypto Stolen

One of the largest crypto exchanges, Bybit, has just experienced a massive security breach. Hackers were able to withdraw an estimated $1.5 billion from the platform’s Ethereum cold wallet, leaving the crypto community stunned.

The attackers deployed a sneaky tactic—forging the signing process of the wallet with an imposter yet realistic user interface. The signers of the wallet were viewing what appeared to be a routine transaction, yet embedded in code was a changed smart contract providing the hacker total control.

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Bybit CEO Ben Zhou confirmed the attack, stating that hackers tricked the exchange into approving a transaction that transferred all the ETH in the cold wallet to an unknown address. “Rest assured, all other cold wallets are secure,” Zhou added, trying to calm users.

Even as the stolen funds get swapped and moved around, Bybit insists withdrawals are still working and no other wallets have been affected. The exchange is working with security experts and authorities to track the stolen assets and recover what they can.

Interestingly, blockchain security firm Cyvers Alerts had flagged suspicious activity involving Bybit’s wallets just before the hack. Now, the exchange is asking the crypto community for help in tracing the stolen funds.

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With another massive hack hitting the crypto world, traders and investors are left wondering—how safe is their money?

Vitalik Buterin Frustrated with Ethereum’s Growing Casino Culture

Not happy with the direction of Ethereum, according to Vitalik Buterin. He was speaking during an AMA on Tako, where he admitted to be disappointed by the embrace blockchain casinos and memecoins have found in the Ethereum community.

When asked if he ever felt let down by the Ethereum Foundation or crypto in general, his answer was simple: “Of course.” No one was shocked when he spoke of issues ranging from people thinking Ethereum should fully embrace gambling and speculative assets to throwing shade at Solana, which has been flooded with memecoins over the past year.

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Some Ethereum supporters argue that ignoring trends like casinos and meme tokens could make Ethereum lose ground to faster-growing blockchains like Solana. But Buterin isn’t convinced. He believes chasing hype would be a “moral reversal” for Ethereum, and if things keep going this way, he might reconsider his role in the ecosystem.

Despite his frustration, he noticed something interesting. Online, people seem obsessed with casinos and quick-money trends, but when he talks to the community in person, their values haven’t changed. That’s what keeps him from walking away.

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As Ethereum competes with other blockchains, the debate continues—should it chase trends like gambling and memecoins, or stay focused on building meaningful applications?

Ethereum Gas Fees Hit Record Low, Dropping to $0.40

Ethereum gas fees have fallen to their lowest point since July 5 years ago, reaching as low as $0.40 in the last week. It takes about $0.70 for a straightforward swap on Uniswap, while USDT transfer is as cheap as $0.11, based on Etherscan data.

The drop coincides with Ethereum undergoing critical network upgrades like increased gas limits and the inclusion of blob transactions. Lower fees usually mean less congestion, making it cheaper to use the network.

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At the same time, Ethereum’s price has been struggling. ETH is currently trading at around $2,800, down 15% in the past month, according to CoinMarketCap. Some experts see this as a temporary slowdown before a bigger move.

“When Ethereum fees are this low, it usually means the network isn’t overcrowded,” says Santiment, a market analytics firm. “Reducing gas prices is a bearish indicator of waning activity for some, but it also creates a chance for new users to come into the market.”.

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With transaction costs hitting record lows, it’s becoming cheaper to employ Ethereum-based services and applications. While investors see this as a signal that something is off, others believe it could lead to a new wave of adoption and bring new traffic into the network.

Litecoin’s Pump: ETF Hype and Whales Are Sending It Soaring

Litecoin is making moves, and investors are paying attention. In just over two weeks (Feb 2–19), its market cap jumped 46%, fueled by excitement over a potential Litecoin ETF and heavy whale buying.

A Litecoin ETF would let people invest in LTC like they do stocks—no wallets, no private keys—just simple buying and selling. Recently, CoinShares applied to list a Litecoin ETF on Nasdaq, and now the SEC is reviewing it. Crypto analysts say there’s a 90% chance it gets approved by late of current year as U.S. regulators warm up to crypto.

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But it’s not just ETF speculation—Litecoin’s network is booming. Daily transaction volume has skyrocketed 243% since August, hitting $9.6 billion. More people are actually using Litecoin rather than just holding it.

And then there are the whales. In just two weeks, big investors scooped up $500 million worth of LTC, a clear sign they believe in its long-term value.

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Right now, LTC is holding around $138, with $120 as strong support. If momentum keeps up, we could see $225 soon. But if it dips under $80, the hype train might slow down.

Coinbase CEO Warns: “You Can End Up in Jail” Over Memecoins

Coinbase CEO Brian Armstrong is throwing up some major 🚨🚨 over memecoins, warning that shady moves like insider trading could land people behind bars. With memecoins pumping and dumping left and right—especially the ones hyped by Trump and Argentina’s President Javier Milei—Armstrong is telling the crypto community to chill and think twice before diving in.

In a tweet, Armstrong made it clear: memecoins might be fun, but they’re not a free pass for sketchy behavior. He called out insider trading in the space, saying that just because Dogecoin made it big doesn’t mean everyone can get away with rug pulls and backdoor deals.

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“Memecoins are just the beginning,” Armstrong tweeted. “Everything is going on-chain—posts, videos, art, stablecoins, contracts—you name it.” But he made it clear that Coinbase has no problem listing memecoins as long as they’re legal and people actually want to trade them. Still, the exchange won’t just list anything—if a token is a scam, it’s getting booted. If it’s just low-quality? That’s up to the community to decide.

But here’s where things get real serious—Armstrong straight-up warned that insider trading on memecoins can send people to prison. He said every bull run has people trying to get rich quick, and a lot of them end up learning the hard way.

His final advice? “Don’t break the law. And don’t chase quick money. The real bag comes from actually building something valuable.”

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Solana on the Edge: Can SOL Hold or Drop to $125?

Solana (SOL) is struggling, and investors are getting nervous. Having shot past way beyond $250 in the past, SOL is now fighting to stay above $170. If it fails to hold the crucial support levels, experts are warning it could fall down to as low as $125.

At the moment, SOL is hovering around $172 after briefly slipping to $169.19, down nearly 5% in the past 24 hours. The biggest concern? A flood of new tokens hitting the market. FTX’s bankruptcy proceedings will soon unlock 11.2 million SOL (worth $9.7 million), adding selling pressure at a time when demand is weak. On top of that, another $1.6 billion in SOL is set to unlock in March, making things even riskier.

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From a technical standpoint, SOL is still stuck in a downward trend. If the $160 support level holds, a bounce back to $180–$185 is possible.But if it does collapse, the subsequent lower point could be $150 or even lower, with the most bearish pushing it down to $125.

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Fueling the speculation, recent examples of scams such as $LIBRA and $TRUMP rug pulls have tested investor faith. For the moment, all are waiting to determine whether or not buyers will panic in and support SOL—or if a worse crash is in the cards.

Microsoft Alerts: New Malware Targets and Steals Crypto on Apple MacOS Devices

Microsoft warns new XCSSET malware can steal crypto and data on MacOS, urging caution against unapproved app downloads.



Microsoft just flagged an updated version of the XCSSET malware, which is now more dangerous for MacOS users. This malware, which first popped up in 2020, has always been known for stealing data from apps like Telegram and Apple Notes. But the new variant has a scary new trick—it can change Bitcoin addresses shown in browsers, leading to potential crypto theft.

Since 2022, the XCSSET malware has gotten more advanced, with improved hiding techniques, better ways to stay on infected systems, and even newer infection methods. Microsoft says that this version still targets digital wallets, collects system info, and steals data from apps like Notes, but the new features make it even harder to spot.

Even though this version of XCSSET has not yet spread widely, users are reminded to stay alert. Microsoft Defender for Endpoint for Mac can detect the malware, but you are still warned to be more cautious downloading unauthorized programs or Xcode projects. Always download your apps via the Mac App Store to ensure they are genuine and safe.

Since ransomware and malware evolve every minute, the better choice for operating MacOS would demand staying up-to-date with dangers as well as applying the methods of protection used in securing cryptocurrencies and those files.

Also Read: Nigeria Files $81.5B Lawsuit Against Binance for Economic Losses and Tax Evasion

Nigeria Files $81.5B Lawsuit Against Binance for Economic Losses and Tax Evasion

Nigeria is suing Binance for $81.5B tax evasion and economic damage, blaming it for the collapse of the naira and financial instability.



Nigeria just sued Binance for a record $81.5 billion, claiming that the exchange had caused enormous economic damage to the country. The suit demands $79.5 billion in damages and $2 billion in unpaid taxes. The devaluation of the naira was largely brought about by Binance, the Nigerian government claimed, and its foreign exchange trading damaged the local economy.

Binance has not yet registered in Nigeria, but the Federal Inland Revenue Service (FIRS) argues that the exchange has adequate presence to be taxed as a company. FIRS is requesting Binance to pay tax and penalty from three and two yeas ago for late payment. The government is asking for a 26.75% rate of interest on the unpaid tax.

In addition to tax issues, Binance is facing four counts of tax evasion, from failure to file tax returns to helping users evade taxes. The firm had previously stated it’s working with Nigerian regulators to resolve tax problems but has not responded to the new suit.

Meanwhile, Binance stopped transactions in Nigerian naira in March 2024 after the government intensified its crackdown on crypto exchanges. Binance is also facing separate money laundering charges, which it denies.

Also Read: Whale Withdraws $20.8M in SOL from Binance—Is a Price Surge Incoming?

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