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ZachXBT says he unmasked mysterious 50x Hyperliquid whale

Onchain sleuth ZachXBT said he had identified the mysterious whale who profited $20 million from highly leveraged trades on Hyperliquid and GMX as a British hacker going by the name William Parker.

According to ZachXBT’s March 20 X post, Parker — who was previously known as Alistair Packover before changing his name — was arrested last year for allegedly stealing around $1 million from two casinos in 2023.

Parker also made headlines a decade ago for allegations of hacking and gambling, ZachXBT said.

“It is abundantly clear WP/AP has not learned his lesson over the years after serving time for fraud and will likely continue gambling,” ZachXBT said.

Source: ZachXBT

ZachXBT said his findings are based on a phone number provided by a person who allegedly received a payment

‘Successful’ ETH ETF less perfect without staking — BlackRock

BlackRock’s head of digital assets, Robbie Mitchnick, described the firm’s Ether (ETH) exchange-traded fund (ETF) as a “tremendous success” but acknowledged a key limitation. Speaking on March 20 at the Digital Asset Summit, he noted that the ETF is “less perfect” without staking, highlighting a crucial feature absent from the current offering.

“A staking yield is a meaningful part of how you can generate investment return in this space,” Mitchnick said. “And all the [Ether] ETFs, of course, at launch did not have staking. So, if that is able to get resolved…”

However, adding staking to Ether ETFs is no simple task, according to Mitchnick. “It’s not as simple as a new administration just green-lighting something, and then boom, we’re all good, off to the races,” he said. “There’s a lot of fairly complex challenges that have to be figured out, but if that can get figured

Canary files for PENGU ETF

Asset manager Canary Capital has filed to list an exchange-traded fund (ETF) holding Pengu (PENGU), the governance token of the Pudgy Penguins non-fungible token (NFT) project, US regulatory filings show.

The ETF is the latest in a slew of filings for new US investment products tied to spot cryptocurrencies, including altcoins and memecoins.

According to the filing, the ETF is intended to hold spot PENGU as well as various Pudgy Penguins NFTs. It would be the first US ETF to hold NFTs if approved.

Additionally, “[t]he Trust will also hold other digital assets, such as SOL and ETH, that are necessary or incidental to the purchase, sale and transfer of the Trust’s PENGU and Pudgy Penguins NFTs,” the filing said.

Launched in December, PUDGY has a roughly $438-million market capitalization as of March 20, according to CoinGecko.

On March

Kevin O’Leary reveals key catalysts that could reverse the bearish trend

The crypto market is currently facing significant pressure, largely due to US President Donald Trump’s trade war and deteriorating macroeconomic conditions. These factors have put markets under strain, with some analysts predicting that the bull run is over and a bear market may be on the horizon.

In a recent Cointelegraph interview, Kevin O’Leary, also known as “Mr. Wonderful,” shared his thoughts on the current state of the market and what could be ahead. Despite the turbulence, O’Leary remains optimistic about the future of Bitcoin (BTC). He explains that while the market is under pressure, he still expects Bitcoin to end the year higher as a couple of key factors come into play.

A key issue discussed in the interview is the need for regulatory clarity, especially surrounding stablecoins. O’Leary is particularly focused on the GENIUS Act, which he believes will be passed imminently by the US

Bitcoin Coinbase premium returns — Is $90K BTC price in the cards?

The Bitcoin (BTC) Coinbase premium index reached its highest level since Feb. 20 after BTC prices rallied 5% on March 19.

Bitcoin’s Coinbase premium index. Source: CryptoQuant

Return of Coinbase premium highlights Bitcoin accumulation

The Coinbase premium index measures the price difference between Coinbase and Binance prices for BTC pairs, where a higher value signals US investors dictating stronger buying pressure. The index gauges US retail interest, but Woonminkyu, a verified analyst on CryptoQuant, said that it may also signal strong accumulation from US institutions and whales.

Coinbase premium analysis by Woominkyu. Source: CryptoQuant

The analyst explained that the 30-day EMA of the index crossed the 100-day EMA level, which implies the presence of large players. The analyst added,

“Past trends show that when this indicator rises, BTC bull markets tend to continue. High likelihood of an accumulation phase, making it a

Venture capital firms invest $400M in TON blockchain

Update (March 20 at 4:41 PM UTC): This article has been updated to clarify that the token sale was not directed at the TON Foundation.

The Open Network Foundation, also known as TON Foundation, said several venture capital firms invested more than $400 million in the TON blockchain, signaling growing interest in the Telegram messaging ecosystem.

Sequoia Capital, Ribbit, Benchmark, Draper Associates, Kingsway, Vy Capital, Libertus Capital, CoinFund, SkyBridge, Hypersphere and Karatage participated in the investment by purchasing Toncoin (TON), the native cryptocurrency of The Open Network.

TON Foundation described the token purchases as strategic partnerships that will help expand the TON ecosystem, though no further details were provided.

TON blockchain is a decentralized network that supports the development of Mini Apps for the Telegram ecosystem. Although TON was initially developed by Telegram’s founders, it now operates as an independent chain.

As of January,

Trump becomes first US sitting president to speak at a crypto conference

US President Donald Trump is steadily aligning his administration with the crypto industry. On March 20, he addressed a community conference for the first time since being elected.

Speaking at the Blockworks Digital Asset Summit on March 20 in a pre-recorded statement, Trump reiterated that the US would take steps to ensure it is the “crypto capital of the world.”

The president lauded the recent regulatory shift in the crypto industry over the previous administration and added:

“Pioneers like you will be able to improve our banking and payment system and promote greater privacy, safety, security and wealth for American consumers and businesses alike. You will unleash an explosion of economic growth.”

“With dollar-backed stablecoins, you will help expand the dominance of the US dollar for many, many years to come,” the president continued.

President Trump has signed several pro-crypto executive orders, including the Jan. 23 order commissioning the

Trump says US will be 'Bitcoin superpower' as BTC price breaks 4-month downtrend

Bitcoin (BTC) sought to reinforce higher support at the March 20 Wall Street open as bulls broke out of a key downtrend.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

Trump pledges to make US “Bitcoin superpower”

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning above $86,000.

Now circling the daily open, Bitcoin continued to build on strength which came the day prior thanks to encouraging macroeconomic signals from the US Federal Reserve.

Rumors of a further announcement on crypto by the US government administration helped BTC price action to reach two-week highs.

President Donald Trump was due to deliver virtual remarks on the third day of the Blockworks Digital Asset Summit 2025 event in New York.

Trump doubled down on his pledge not to sell confiscated US Bitcoin, as well as end regulatory mechanisms such as Operation

TON-based XDAO protocol grants legal status to 367k DAOs

XDAO, a protocol based on The Open Network (TON), has enabled over 367,000 decentralized autonomous organizations (DAOs) to achieve legal status through its initiative that automates legal recognition for such organizations.

In an announcement, XDAO said it had streamlined the DAO creation process to allow DAOs to achieve legal status. An XDAO spokesperson told Cointelegraph that the protocol offers a standard for other “sub-entities” within its legal framework.

“Basically, those sub-entities exist both in relation to each other and outside entities that had acknowledged their existence and assented to some articles of the XDAO Labs’ Constitution,” the spokesperson told Cointelegraph.

XDAO added that the parties recognize Singapore, where XDAO Labs is incorporated, as the primary jurisdiction where disputes may be resolved if necessary.

Signing legally-binding documents through Telegram bots

The protocol also said it could enable the signing of legally binding documents using Web3 wallets. XDAO said DAOs could archive their transactions using a Telegram

The fallacy of scalability — why layer 2s won’t save crypto

Opinion by: Dan Hughes, founder of Radix

Crypto has spent years betting on layer-2 (L2) solutions as its magic bullet for fixing issues with scalability. What if they’re the very thing putting us at risk?

Instead of paving the way for mass adoption, this fixation has created a tangled web of rollups, bridges and fragmented liquidity, threatening blockchain’s core principles of decentralization and security. The dream of a seamless, decentralized network is fading, overshadowed by a complex system that echoes the inefficiencies and centralization of the traditional financial world. Are we scaling innovation or just recreating the past?

The blockchain trilemma

L2s were supposed to mitigate the blockchain trilemma. Yet, while they may fill the gaps at the individual level, as a movement, L2 solutions have put crypto at risk of losing all three.

The growing mass of L2s has led to a highly fractured