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- Bitcoin, Ethereum, Cosmos and more Week 8 2025
Bitcoin, Ethereum, Cosmos and more Week 8 2025
Keeping you updated on crypto, web3 and blockchain
TL;DR
Saylor Urges U.S. to Buy 20% of Bitcoin Supply
Montana Advances Bitcoin Reserve Bill to House
Franklin Templeton Launches Bitcoin-Ether Index ETF
Vitalik Buterin Criticizes Crypto’s Gambling Shift
ShadeX Introduces Encrypted Crypto Lending
Saga Introduces Vault 2.0 for Liquidity Rewards
Nigeria Slaps Binance with $81B Tax Fine
Bybit Suffers Record $1.5B Hack
and much more!
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Bitcoin Highlights of the Week
MicroStrategy co-founder Michael Saylor is advocating for the U.S. government to acquire 20% of Bitcoin’s supply, claiming it could strengthen the dollar and eliminate national debt. Speaking at CPAC, he warned that other nations might seize the opportunity first.
His remarks come as some U.S. states push for Bitcoin reserves and President Trump explores a federal Bitcoin strategy. However, skeptics, including MIT’s Christian Catalini and author David Gerard, argue that Bitcoin lacks the stability of a true reserve asset and could undermine the dollar’s global status, casting doubt on the feasibility of Saylor’s proposal.
Montana’s House Business and Labor Committee has approved House Bill No. 429, allowing Bitcoin and other digital assets to become reserve assets. Passed in a 12-8 vote, with Republican support, the bill would establish a special revenue account for investing in precious metals, stablecoins, and digital assets with a $750 billion market cap—currently, only Bitcoin qualifies.
If enacted, Montana’s state treasurer could allocate up to $50 million by July 15. Montana joins Utah, Arizona, and Oklahoma in advancing similar legislation, while federal efforts continue through Senator Cynthia Lummis' Bitcoin reserve bill proposal.
A new theory by Seán Murray suggests Jack Dorsey could be Bitcoin’s creator, Satoshi Nakamoto. Murray points to several coincidences, such as Bitcoin’s first transaction occurring on Dorsey’s mother’s birthday and Satoshi’s last mined block aligning with his father’s birthday. Other clues include timestamps, addresses, and alleged online activity linked to Dorsey’s past.
However, skeptics argue that no definitive proof exists. Critics also question whether Dorsey, who led Twitter’s content moderation, would align with Bitcoin’s uncensorable ethos. Despite previous denials, Dorsey has yet to respond to these latest claims, leaving the mystery of Satoshi’s identity unresolved.
Howard Lutnick, former CEO of Cantor Fitzgerald and a vocal Bitcoin advocate, has been confirmed as the US Secretary of Commerce in a 51-45 Senate vote. Lutnick has long supported Bitcoin and stablecoins, advocating for their global acceptance and clearer regulations.
Under his leadership, Cantor Fitzgerald managed Tether’s US Treasury reserves and launched a $2 billion Bitcoin financing program. Beyond crypto, Lutnick backs Trump’s trade policies, including tariffs on imports. While Bitcoiners celebrate his appointment, some economists warn about potential trade tensions. His tenure will influence US economic policy and digital asset regulations significantly.
BlackRock’s Bitcoin ETF has surpassed 50% market share, holding over $56.8 billion in BTC despite a three-day sell-off. Bitcoin ETFs saw $364 million in net outflows on Feb. 20, with BlackRock’s iShares Bitcoin Trust accounting for $112 million. Bitcoin remains resilient, recovering above $99,300, suggesting other market forces like institutional accumulation and macro trends are at play.
Some experts believe Bitcoin’s price is being artificially suppressed, with its range-bound movement appearing unnatural. Despite concerns, ETFs have driven Bitcoin’s 2024 rally, contributing 75% of new investment as the asset reclaimed $50,000 on Feb. 15.
Ethereum Highlights of the Week
Franklin Templeton has introduced the Franklin Crypto Index ETF (EZPZ), a fund holding both Bitcoin and Ether, making it the second cryptocurrency index ETF in the U.S. after Hashdex’s Nasdaq Crypto Index ETF. EZPZ tracks the CF Institutional Digital Asset Index, currently comprising 87% BTC and 13% ETH, with plans to expand as more assets are added.
The fund offers investors exposure without direct crypto purchases. U.S. regulators are easing restrictions, prompting a wave of ETF filings, including proposals for Solana, XRP, and Litecoin. Bloomberg Intelligence sees high approval odds for upcoming crypto ETF applications.
The Ethereum Foundation is hiring a social media manager to improve community engagement following criticism of its perceived disconnect. The remote role involves managing platforms like X, Facebook, and LinkedIn, amplifying ecosystem updates, and organizing campaigns. Josh Stark announced the job on X, emphasizing the need for an experienced communicator with deep Ethereum knowledge.
This move follows backlash over recent ETH sales, which some argue undermine trust. Vitalik Buterin defended the sales, citing regulatory pressures and long-term sustainability. The new role aims to address transparency concerns and strengthen the foundation’s relationship with the Ethereum community.
Ethereum co-founder Vitalik Buterin expressed concerns over the crypto industry's moral shift, particularly criticism of Ethereum for not embracing blockchain gambling. In a Feb. 20 AMA, he dismissed claims that Ethereum is “intolerant” for not supporting casino-based applications. Buterin emphasized that offline interactions reassure him that Ethereum’s core values remain intact.
He hinted at potential changes in the Ethereum Foundation’s neutrality regarding applications. This follows recent funding shifts, with the foundation allocating 45,000 ETH ($120M) to DeFi platforms after criticism for selling ETH. The foundation is also exploring staking as an alternative funding mechanism.
The Ethereum Foundation has introduced the Open Intents Framework to streamline cross-chain asset transfers and unify the fragmented Layer-2 ecosystem. Developed with major L2 networks, wallets, and infrastructure providers, the initiative enhances interoperability by allowing users to transact seamlessly across chains.
By standardizing cross-chain interactions, intents enable decentralized finance, social platforms, and AI applications to function more efficiently. Proposed by Across and Uniswap in April 2024, the framework modularizes key components, giving developers greater flexibility. The goal is to make Ethereum’s multi-chain environment feel like a single, cohesive network, reducing inefficiencies and enhancing user experience.
A Chinese Ethereum investor, Hu Lezhi, burned 2,553 ETH worth $6.8 million, sending it to null addresses and donations like WikiLeaks. Lezhi claimed corporations and Chinese entities were using "brain-computer weapons" to control minds and enslave individuals.
His onchain messages accused executives of Kuande Investment of being both perpetrators and victims of this technology. The transactions, which began on Feb. 10 and continued until Feb. 17, conveyed warnings about digital enslavement. Crypto intelligence platform Arkham flagged the unusual fund movements, highlighting Lezhi’s drastic financial sacrifice to spread his concerns.
Cosmos Highlights of the Week
Shade Protocol is launching ShadeX, the first encrypted money market, allowing users to lend and borrow crypto assets while maintaining privacy. As part of its ATOM alignment, Shade has accumulated 16,000 ATOM and integrated ATOM and stATOM into its lending platform.
Unlike traditional money markets that expose user data, ShadeX ensures financial privacy while maintaining solvency through collateral liquidations. The platform aims to attract institutional liquidity by leveraging CosmosSDK and CosmWasm. ShadeX launches on March 5, 2025, requiring SCRT for gas and ATOM for transactions, offering a secure and private DeFi lending experience.
Saga is evolving its rewards structure by shifting focus from staking to liquidity provisioning. Vault 2.0 bridges this transition, ensuring users have the time and resources to adapt. While staking remains essential, rewards will gradually adjust to prioritize sustainability.
Liquidity providers will see increased incentives, playing a vital role in the ecosystem’s growth. This shift aligns with Saga’s long-term tokenomics strategy, reinforcing DeFi expansion. Vault 2.0 makes liquidity provisioning as seamless and rewarding as staking, encouraging broader participation. Users are urged to prepare for the transition and stay informed through Saga’s latest updates.
Penumbra has integrated Stride’s stTIA, stATOM, and STRD, bringing privacy to liquid staking for the first time. Users can now shield and trade staked assets without exposing balances, transfers, or transaction history.
Penumbra’s fully encrypted DEX eliminates MEV attacks and front-running, offering seamless, private liquidity. With ephemeral addresses for bridging, users can move assets across Cosmos chains without revealing their holdings. This marks a pivotal shift in DeFi, combining staking, liquidity, and financial privacy like never before.
Sei has launched its first Builders Round on Gitcoin, allocating $750K in SEI to support impactful projects since the Sei V2 launch. The funding is split into two tracks: Consumer-Facing Contributions and Infrastructure & Tooling. Eligible builders must have deployed live applications or infrastructure on Sei for at least 30 days.
Community voting begins on February 27, requiring wallets with at least 100 SEI. A 10% matching cap ensures fair distribution. This initiative empowers developers to drive growth while engaging the Sei community in funding allocation.
The partnership between DtravelDAO and Fetch.ai is transforming the travel industry by integrating AI-driven recommendations, automated bookings, and decentralized data storage. This collaboration enhances efficiency, personalization, and privacy, allowing users to seamlessly plan and book trips without relying on centralized platforms.
By leveraging blockchain and AI, travelers gain more control over their data while benefiting from intelligent automation. This innovation sets a new standard for digital travel, ensuring secure, efficient, and customized experiences. As decentralized technologies reshape industries, this partnership marks a significant shift in how people interact with travel services.
Other Highlights of the Week
Nigeria has escalated its crackdown on Binance, demanding an $81 billion penalty for alleged tax violations. The Federal Inland Revenue Service claims the exchange caused $79 billion in economic losses and owes $2 billion in taxes. This marks Binance’s third criminal case in the country, with previous charges including $35 million in money laundering.
The case has drawn global attention, especially after Nigerian authorities detained Binance executives, prompting U.S. government intervention to secure one executive’s release. The legal battle underscores Nigeria’s aggressive stance on regulating crypto exchanges operating within its borders.
Bybit has been hit by a $1.5 billion hack, the largest crypto theft in history, after hackers exploited a vulnerability in its ETH cold wallet. Despite the massive loss, Bybit’s CEO reassured users of the exchange’s solvency and pledged to cover all customer losses.
Arkham identified North Korea’s Lazarus Group as the likely perpetrators, raising concerns over state-backed cybercrime. The breach has reignited security concerns over centralized exchanges, with experts emphasizing the need for stronger transaction approval measures. Bybit now faces mounting pressure to enhance its security infrastructure and prevent future breaches.
FTX's bankruptcy estate has started repaying creditors, distributing $1.2 billion to smaller claimants as part of a $16 billion plan. Payments are based on 2022 asset prices, disadvantaging Bitcoin and Solana holders, as BTC has surged from $20,000 to $95,000. The estate has already sold 41 million SOL tokens, with another 11.2 million unlocking on March 1, raising concerns over market impact.
While FTX promises additional payouts, critics argue creditors are recovering only a fraction of their original holdings. The situation underscores ongoing disputes over asset valuation in bankruptcy proceedings, leaving many investors frustrated with their compensation.
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