Crypto weekly is authored by maaria and david blumenfeld

PRICE CHANGE: WTD/YTD
- Crypto Market Cap ($3.45T): -6% / +2%
- BTC ($94,632): -4% / +1%
- ETH ($3,276): -10% / -2%
- SOL ($189): -11% / 0%
- UNI ($13.76): -10% / +4%
- OP ($1.79): -14% / +2%
- Tether Mkt Cap ($137B): 0% / -1%
- USDC Mkt Cap ($45.7B): 0% / +4%
- BTC / ETH Dominance: 54% / 11%

THIS WEEK IN CRYPTO

• New York lawmakers have introduced legislation that would establish criminal penalties for “virtual token fraud” including rug pull scams. Link. Draft bill. 

- North Korean hackers who stole around $1.4 billion of Ethereum from crypto exchange Bybit have laundered the assets to Bitcoin across 4,400 addresses. Link. 

- President Donald Trump signed an executive order authorizing the creation of a Bitcoin strategic reserve and a digital asset stockpile using cryptocurrency from criminal and civil forfeiture. Link. Link. Executive order. 

- The price of Bitcoin fell from $90,400 to $85,000 on the news that the US’s strategic Bitcoin reserve would be made up seized assets, rather than net new purchases. The US can only purchase Bitcoin with budget-neutral strategies. Link. Link. 

- President Donald Trump told top crypto executives at the White House’s first crypto summit that he wanted Congress to pass new digital asset laws, including stablecoin rules, before August. Link. 

- Ethereum’s revenue dropped by 93% over the past year, with its share of blockchain revenue dropping from 55% in February 2024 to 24% in February 2025. Link. Link

- Ethereum developers decided to delay the upcoming major Petra upgrade after buggy tests. No date was set. Link. 

- The Senate overturned a December 2024 IRS rule that would have required decentralized finance protocols to register as “brokers” and perform KYC on users. Link. 

- Gemini, the crypto firm backed by the billionaire Winklevoss twins, has filed confidentially for an IPO. Link. 

- Coinbase acquired the team behind privacy-focused blockchain Iron Fish to strength privacy features on its Layer 2 network Base. The deal did not include the Iron Fish blockchain or its native token. Link. 

- Trading volume for memecoin platform Pump.fun has fallen 94% from its peak of $3 billion in January to $170 million. Link. 

- Industrial chemical supplier BioNexus Gene Lab Corporation approved an Ethereum-focused treasury strategy, becoming the first Nasdaq-listed company to prioritize Ethereum as a strategic asset. Link. 

- The SEC closed its 2022 investigation into Bored Ape Yacht Club creator Yuga Labs for allegedly violating securities law with its NFT offerings and ApeCoin token. Link. 

- Ethereum NFT and tokenization protocol Zora plans to launch its own meme coin – ZORA – on Base in Q2. Link.