Crypto Vesting

An unknown trader made nearly half a million worth of profit on a recently launched memecoin just before the token lost half of its value, sparking insider trading allegations after the recent wave of memecoin meltdowns.

A savvy trader made an over 1,500-fold return on his initial investment, turning it into over $482,000 in less than 24 hours on the Bubb (BUBB) memecoin.

Source: Lookonchain

“Turned $304 into $482K on $BUBB—a 1,586x return! This trader spent only $304 to buy 43.94M $BUBB and sold 28.9M $BUBB for $122K, leaving 15.64M $BUBB($360K),” wrote Lookonchain in a March 21 X post.

The profitable trade occurred shortly before the token lost over 50% of its value, from a peak that rose to a peak $43.7 million market capitalization on March 21 at 10:00 p.m. UTC, to the current $22.6 million, Dexscreener data

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Once, long ago, cryptocurrency companies operated comfortably in the US. In that quaint, bygone era, they would often conduct funding events called “initial coin offerings,” and then use those raised funds to try to do things in the real and blockchain world.

Now, they largely do this “offshore” through foreign entities while geofencing the United States.

The effect of this change has been dramatic: Practically all major cryptocurrency issuers started in the US now include some off-shore foundation arm. These entities create significant domestic challenges. They are expensive, difficult to operate, and leave many crucial questions about governance and regulation only half answered. 

Many in the industry yearn to “re-shore,” but until this year, there has been no path to do so. Now, though, that could change. New crypto-rulemaking is on the horizon, members of the Trump family have floated the idea of eliminating capital gains tax on cryptocurrency, and many US federal

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Both cryptocurrency and traditional markets will be pressured by global trade war concerns until at least the beginning of April, but the potential resolution may bring the next big market catalyst.

Bitcoin’s (BTC) price fell over 17% since US President Donald Trump first announced import tariffs on Chinese goods on Jan. 20, the first day after his presidential inauguration.

Despite a multitude of positive crypto-specific developments, global tariff fears will continue pressuring the markets until at least April 2, according to Nicolai Sondergaard, research analyst at Nansen.

BTC/USD, 1-day chart. Source: Cointelegraph/TradingView

The research analyst said during Cointelegraph’s Chainreaction daily X show on March 21:

“I’m looking forward to seeing what happens with the tariffs from April 2nd onwards, maybe we’ll see some of them dropped but it depends if

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The cryptocurrency industry may still be facing debanking-related issues in the United States, despite the recent wave of positive legislation, according to crypto regulatory experts and industry leaders.

The collapse of crypto-friendly banks in early 2023 sparked the first allegations of Operation Chokepoint 2.0. Critics, including venture capitalist Nic Carter, described it as a government effort to pressure banks into cutting ties with cryptocurrency firms.

Despite numerous crypto-positive decisions from US President Donald Trump, including the March 7 order to use Bitcoin (BTC) seized in government criminal cases to establish a national reserve, the industry may still be facing banking issues.

“It’s premature to say that debanking is over,” according to Caitlin Long, founder and CEO of Custodia Bank. Long said during Cointelegraph’s Chainreaction daily X show on

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Stablecoin issuer Tether is reportedly engaging with a Big Four accounting firm to audit its assets reserve and verify that its USDT (USDT) stablecoin is backed at a 1:1 ratio.

Tether CEO Paolo Ardoino reportedly said the audit process would be more straightforward under pro-crypto US President Donald Trump. It comes after rising industry concerns over a potential FTX-style liquidity crisis for Tether due to its lack of third-party audits.

Tether to produce first full audit after scrutiny

“If the President of the United States says this is top priority for the US, Big Four auditing firms will have to listen, so we are very happy with that,” Ardoino told Reuters on March 21.

“It’s our top priority,” Ardoino said. It was reported that Tether is currently subject to quarterly reports but not a full independent annual audit,

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Venture capital firm Haun Ventures is reportedly looking to raise $1 billion for two new crypto-related investment funds within the next three months.

If successful, $500 million will be allocated to early-stage crypto investments, while the remaining $500 million will go toward late-stage crypto investments, people familiar with the matter told Fortune Crypto on March 21.

Different market conditions to 2022 led to lowered expectations

The VC firm, founded by former Coinbase board member and federal prosecutor Katie Haun in 2022, reportedly did not aim for the $1.5 billion it raised in its highly praised funding round in 2022. It cited different market conditions as the reason for the lower target.

However, Haun reportedly expects the two new funds will be “oversubscribed.” In March 2022, Haun secured $1.5 billion in the company’s first funding round, shortly after its launch. Haun had also recruited former executives from Airbnb, <a data-ct-non-breakable="null"

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John Reed Stark, the former director of the Office of Internet Enforcement at the United States Securities and Exchange Commission (SEC), pushed back against the idea of regulatory reform at the first SEC crypto roundtable.

The former regulator said the Securities Act of 1933 and 1934 should not be changed to accommodate digital assets and urged that digital assets do not escape the definition of securities under the current laws.

The first-ever SEC crypto roundtable. Source: SEC

“The people buying crypto are not collectors. We all know that they are investors, and the mission of the SEC is to protect investors,” Stark said. The former official added:

“The volume of case law has developed so quickly because of all these crypto firms. They went for this sort of delay, delay, delay, idea, and they hired the best law firms in the world, and these law firms all fought

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A Super PAC network funded by the crypto industry is poised to back two Republican candidates for the United States House of Representatives in Florida’s April 1 special elections, according to a March 21 report by Politico. The network includes Fairshake, Defend American Jobs and Protect Progress.

Defend American Jobs will start the spending by airing a $1.2 million ad for Florida State Senator Randy Fine, who aims to replace former representative Michael Waltz, who resigned his House seat to become US President Donald Trump’s national security adviser. “Floridians want crypto innovation!” Fine posted on X on Jan. 14, while also highlighting the need for “clear rules of the road.”

Defend American Jobs is also spending $345,000 to support Florida Chief Financial Officer Jimmy Patronis in his quest to replace former representative <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-nominates-bitcoin-supporter-matt-gaetz-us-attorney-general" rel="" target="_self"

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America’s pro-crypto policy shift has become a bipartisan commitment as Democrats and Republicans look to secure the US dollar’s influence as a global reserve currency. According to US Representative and California Democrat Ro Khanna, at least 70 of his fellow party members now understand the importance of stablecoin regulation. 

According to Khanna, Americans can expect sensible crypto market structure and stablecoin bills this year. Under normal circumstances, this news would send crypto prices soaring, but that’s not been the case as President Donald Trump’s trade policies stoke recession fears.

ARK Invest CEO Cathie Wood is the latest crypto industry executive to sound the recession alarm. While a recession is rarely a good thing, Wood said it could provide Trump and the Federal Reserve with leeway to enact pro-growth policies. 

“We are worried about a recession” — Cathie Wood

Although US Treasury Secretary Scott Bessent

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The government of Nigeria is still open to crypto businesses operating in the country despite the ongoing lawsuit against crypto exchange Binance and the high-profile detention of Binance executive Tigran Gambaryan.

Nigerian Information Minister Mohammed Idris told Semafor that many crypto businesses operate inside the country that are not facing litigation or criminal prosecution.

“This is part of the effort to strengthen our laws, not to cripple anybody. We are ensuring that no one comes and operates without regulation,” Idris told the outlet.

Nigeria filed an $81.5 billion lawsuit against Binance in February, claiming the exchange crashed Nigeria’s local currency, the naira, and said that Binance owed $2 billion in back taxes as the Nigerian government continues to grapple with sensible crypto policy.

The naira M2 money supply has been rapidly increasing since March 2024. Source: Trading Economics

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