Significant events constantly occur in the world of DeFi and cryptocurrencies. In this overview, we present the key news of the week, including the creation of the U.S. crypto reserve, Bybit hack, and Ronaldinho's STAR10 token launch.
Trump's Crypto Strategic Reserve
U.S. President Donald Trump announced the establishment of a Crypto Strategic Reserve, which includes Bitcoin, Ethereum, XRP, Solana, and Cardano. This was revealed on the Truth Social platform and follows Trump's January executive order on digital assets. Public reaction to this move has been mixed.
Bybit Hack and Fund Laundering
Hackers who breached Bybit were able to launder all the stolen 499,000 ETH in just 10 days. According to EmberCN, THORChain facilitated the transaction process, with $5.9B processed and $5.5M in fees earned. Hackers used mixing techniques and non-KYC platforms to cover their tracks.
Ronaldinho's STAR10 Token
Brazilian football star Ronaldinho launched his STAR10 token on BNB Chain, offering fans exclusive perks and AI-driven insights. Following warnings about fake meme coins using his name, STAR10 briefly reached a market cap of $300M before a sharp drop. This has raised concerns among investors about the token's future prospects.
This week, significant changes are occurring in the DeFi and cryptocurrency world. The creation of the U.S. crypto reserve, Bybit hack, and STAR10 token launch could have a notable impact on the industry. Stay tuned for updates to remain informed.
