As the DeFi and crypto space continues to evolve rapidly, this week saw several major developments you can't miss. Learn about Trump's crypto reserve, ByBit's hack, and Ronaldinho's STAR10 token.
Trump's Crypto Strategic Reserve
U.S. President Donald Trump announced the creation of a Crypto Strategic Reserve, which makes the government an official holder of digital assets. The reserve will include Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). This move follows Trump's January executive order on digital assets, which was initially met with skepticism.
How ByBit Hackers Laundered $1.39B in 10 Days
ByBit hackers successfully laundered 499,000 ETH, equivalent to $1.39 billion, stolen from the exchange. According to EmberCN, the process took just 10 days, with THORChain facilitating $5.9 billion in transactions and earning $5.5 million in fees. Hackers used mixing techniques and non-KYC platforms to cover their tracks.
Ronaldinho’s STAR10 Token: A Game-Changer or a Red Flag?
Brazilian football icon Ronaldinho has launched his STAR10 token on the BNB Chain, offering exclusive fan perks and AI-driven insights. However, on-chain data suggests insider trading, with STAR10 briefly hitting a $300 million market cap before a sharp drop. Investors are questioning whether this is a genuine Web3 project or just another celebrity cash grab.
These events underscore the current state and challenges of the crypto sector, highlighting its growth and complexity. From government strategic moves to technological innovations and hacker threats, the crypto space continues to capture global attention.
