NewsBriefs - Pakistan aims to legalize crypto to attract international investment

Mar 20, 5:40 AM Bloomberg

Pakistan aims to legalize crypto to attract international investment

Pakistan is planning to establish a legal framework for cryptocurrency to attract international investment and enhance its digital-asset ecosystem. The Pakistan Crypto Council, led by Bilal bin Saqib, is working on clear regulatory guidelines. Crypto already enjoys popularity in Pakistan, which ranks ninth globally in adoption with an estimated 15-20 million users. The move aligns with broader regional trends and reflects international influences, including current US crypto strategies.

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• Mar 20, 2:18 PM The Block

  TON Foundation secures over $400 million in Toncoin sales with major VC participation

  The TON Foundation recently raised over $400 million through the sale of Toncoin, the native token of the TON blockchain, to top venture capital firms including Sequoia Capital, Ribbit, Benchmark, and Kingsway. These investments, fueled by the promising integration of TON blockchain within Telegram's messaging app ecosystem, aim to support the development of mini apps and leverage the mass distribution network of Telegram. Currently, the TON blockchain boasts 40 million active users and 121 million unique Toncoin holders.

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• Mar 20, 11:49 AM The Block

  Gotbit founder agrees to forfeit $23 million in plea deal for market manipulation

  Gotbit founder Alex Andryunin will forfeit $22.9 million in stablecoins as part of a plea deal with the US Attorney for the District of Massachusetts, Leah B. Foley, over charges of wire fraud and crypto market manipulation. Andryunin pleaded guilty to charges including one count of conspiracy to commit wire fraud and market manipulation, and two additional counts of wire fraud. The deal includes a proposed sentence of up to 24 months with 36 months' supervised release, and bans Andryunin from any US crypto trading activities. His guilty plea cannot be withdrawn and sentencing conditions have yet to be determined.

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• Mar 20, 5:40 AM Bloomberg

  Pakistan aims to legalize crypto to attract international investment

  Pakistan is planning to establish a legal framework for cryptocurrency to attract international investment and enhance its digital-asset ecosystem. The Pakistan Crypto Council, led by Bilal bin Saqib, is working on clear regulatory guidelines. Crypto already enjoys popularity in Pakistan, which ranks ninth globally in adoption with an estimated 15-20 million users. The move aligns with broader regional trends and reflects international influences, including current US crypto strategies.

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• Mar 20, 4:17 AM The Block

  Trump Media executives launch SPAC targeting US crypto and data security firms

  Executives from Trump Media have established Renatus Tactical Acquisition Corp I, a special purpose acquisition company aiming to acquire firms in the US crypto and blockchain sector, in alignment with the Trump administration's crypto regulatory changes. This SPAC, based in the Cayman Islands, plans to raise $178.9 million through the sale of 17.5 million shares. The management includes key Trump Media members, supporting President Trump's strategic move to create a bitcoin reserve to enhance the digital assets sector.

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• Mar 20, 1:00 AM The Wall Street Journal

  Kraken approaches $1.5 billion acquisition of NinjaTrader

  Kraken is close to finalizing a $1.5 billion acquisition of NinjaTrader, a US retail futures trading platform. This move aims to expand Kraken's user base and venture into additional asset classes. The deal may be publicly announced by Thursday.

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• Mar 19, 5:11 AM Cointelegraph

  DOJ charges filmmaker with misusing $11M from Netflix for crypto and stock gambles

  US federal authorities have charged filmmaker Carl Erik Rinsch with fraud and money laundering, alleging he misused $11 million from Netflix intended to produce the TV show "Conquest." Instead of financing the show, Rinsch is accused of making risky stock trades and profitable crypto transactions, using the gains to buy luxury items and vehicles. He could face up to 20 years in prison for each charge.

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• Mar 18, 8:51 PM Blockworks

  Raydium launches LaunchLab, a token launchpad rivaling pump.fun

  Raydium, a Solana DEX and automated market maker, is unveiling LaunchLab, a token launchpad that mirrors functionalities of pump.fun. This strategic move follows the severance of an unofficial partnership with pump.fun, which recently developed its own AMM. LaunchLab will feature various bonding curves and allow third-party UIs to determine their own fees. The platform is part of Raydium's broader initiative to provide a suite of token creation tools, targeting users and teams seeking alternatives to developing their own solutions. Despite previous financial setbacks, Raydium persists with significant reserves to fund such innovative endeavors.

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• Mar 18, 4:00 AM VnExpress

  VanEck plans to establish a Bitcoin fund in Vietnam

  VanEck, an asset management company with approximately $113.8 billion under management, is planning to establish a Bitcoin investment fund in Vietnam in collaboration with SSI Securities. CEO Jan van Eck discussed this initiative and the broader digital asset market's development potential with Vietnam's State Securities Commission and Deputy Minister of Foreign Affairs. This move aligns with VanEck's pioneering role in cryptocurrency ETFs and its strategy to expand digital asset partnerships and technology transfer in Asia.

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• Mar 18, 1:29 AM Cointelegraph

  Hyperliquid whale hunt mirrors GameStop short squeeze

  Hyperliquid, a blockchain network, enables traders to observe and target whales holding prominent leveraged positions, aiming to trigger liquidations in a democratized manner. According to Markus Thielen of 10x Research, this transparency could shift the balance of power by allowing small trader groups to affect market dynamics previously influenced by large entities on exchanges. Thielen highlights the potential for widespread onchain activity, with events similar to the GameStop saga, where traders coordinate to impact prices and liquidity.

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• Mar 17, 9:40 PM Cointelegraph

  Solana futures launch on CME with $5M in first-day trading volume

  Solana futures traded for the first time on the Chicago Mercantile Exchange (CME) on March 17, marking the crypto's growing mainstream adoption. The initial trading involved both standard and micro contracts, which are cash-settled and represent a significant step in providing regulated crypto derivatives in the US market. Early trades suggest a bearish sentiment, and the introduction of these futures follows the launch of similar products by Coinbase. The move by CME could potentially support future growth in crypto derivatives, specifically for Solana.

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• Mar 17, 10:30 AM Du Rove's Channel

  Pavel Durov confirms he returns to Dubai amid ongoing Telegram investigation

  Pavel Durov said on his Telegram channel that he has returned to Dubai from France amidst an ongoing investigation involving criminal activities on Telegram. He thanked the investigative judges, his legal team, and Telegram's global community for their support and efforts. Durov emphasized Telegram's commitment to exceeding its legal obligations in terms of moderation and cooperation.

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• Mar 17, 5:09 AM OKX

  OKX halts DEX aggregator to curb misuse by Lazarus Group

  OKX has temporarily suspended its decentralized exchange (DEX) aggregator to address misuse by the Lazarus Group, a North Korean hacking collective. OKX announced the precautionary measure following the detection of attempts by the group to exploit its decentralized finance (defi) services. The crypto exchange is implementing additional security upgrades during this suspension. Despite the ongoing internal review, OKX will continue providing wallet services, although it will halt new wallet creation in certain markets. The security enhancements aim to better identify and block hacker activities on its platform.

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• Mar 17, 4:00 AM PRNewswire

  FalconX completes first CME Group SOL futures trade with StoneX

  FalconX, a digital asset prime broker, executed the first block trade of CME Group's Solana (SOL) futures with StoneX, marking a significant advancement in institutional crypto derivatives trading. This execution underlines the growing institutional interest in cryptocurrencies beyond bitcoin and ether, offering regulated, capital-efficient trading options. The launch of SOL futures caters to this demand, providing institutional investors with new tools for risk management and portfolio expansion in the crypto space.

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• Mar 17, 3:56 AM The Block

  Bank of Korea rejects Bitcoin for reserve due to volatility and non-compliance with IMF guidelines

  The Bank of Korea has declined to consider incorporating bitcoin into its foreign exchange reserves, citing the cryptocurrency's high volatility and non-compliance with International Monetary Fund guidelines on liquidity and risk management. This decision comes despite recent moves by other nations following US President Donald Trump's creation of a Strategic Bitcoin Reserve from confiscated assets.

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• Mar 14, 9:32 PM Cointelegraph

  VanEck files for an AVAX ETF aiming for direct exposure

  VanEck has filed with the US Securities and Exchange Commission to create an Avalanche (AVAX) exchange-traded fund (ETF), intending to offer investors direct exposure to the smart contract platform. The fund aims to reflect AVAX's price performance, less the operational expenses, and will value its shares based on the MarketVector Avalanche Benchmark Rate.

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