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Coinbase Becomes Ethereum’s Largest Node Operator With 11% Stake
A Coinbase report revealed that the crypto exchange is the largest node operator on the Ethereum network, controlling 11.42% of the total staked Ether.
In a performance report, Coinbase said it had 3.84 million Ether, worth about $6.8 billion, staked to its validators. The exchange said that, as of March 3, it has 11.42% of the total staked ETH.
Coinbase also reported that its validators had an average uptime of 99.75%. Coinbase said they outperformed their target of 99% uptime without compromising security standards.
Dubai Starts Real Estate Tokenization Pilot, Forecasts $16bn Market by 2033
The Dubai Land Department (DLD), a government agency for the real estate industry, said it started a real estate tokenization pilot program, claiming to be the first property registration authority in the Middle East to use blockchain technology for property title deeds.
The initiative was developed with the digital assets watchdog Virtual Assets Regulatory Authority (VARA) and Dubai Future Foundation (DFF). The project aligns with Dubai’s 2033 real estate strategy and broader efforts to strengthen its position as a global technology hub.
The department projected that tokenized real estate could account for 7% of the city’s total property transactions, reaching $16 billion by 2033.
Volatility Shares Launching Solana Futures ETFs March 20
Volatility Shares is launching two Solana futures exchange-traded funds (ETFs), the Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT), on March 20.
According to the Securities and Exchange Commission filing, SOLZ will feature a management fee of 0.95% until June 30, 2026, when the management fee will increase to 1.15%.
Volatility Shares’ 2X Solana ETF gives investors twice the leverage and will feature a 1.85% management fee.
The filings represent the first Solana-based ETFs in the US and follow the Chicago Mercantile Exchange (CME) Group’s debut of SOL futures contracts.
Elon Musk’s AI Start-Up and Nvidia Join Microsoft, BlackRock, MGX AI Fund
Elon Musk’s xAI and Nvidia have joined BlackRock, Microsoft, and MGX to expand AI infrastructure in the U.S.
The AI Infrastructure Partnership plans to invest over $30 billion in data centers and energy projects to support AI models.
The first data center, expected to be completed in 2026, will house 400,000 Nvidia AI chips in Abilene, Texas.
Garantex Operators Move Funds to New Crypto Platform
The operators of the sanctioned Russian crypto exchange Garantex have launched a new platform, Grinex, which is reportedly a direct continuation of Garantex.
According to Global Ledger, the new exchange is based in Russia and uses the same infrastructure. Garantex, which was sanctioned by the U.S. Department of the Treasury’s OFAC in 2022 for money laundering related to ransomware and darknet markets, reportedly processed over $96 billion in illicit funds. U.S. authorities have indicted Garantex’s operators, with one facing extradition.
Grinex is being promoted as a workaround to sanctions and has already processed nearly $30 million in transactions, including the movement of A7A5, a ruble-backed stablecoin, from Garantex.
The findings suggest Grinex is essentially a successor to Garantex, continuing its financial operations despite the previous exchange’s shutdown.
Massive $1 bn USDT Transfer Hits Major Asian Crypto Exchange
A $1 billion USDT transfer was made from Tether Treasury to HTX (formerly Huobi), flagged by Whale Alert.
This large transaction raises questions about what’s happening behind the scenes, especially with TRON founder Justin Sun involved.
Sun recently teased a “TRON szn confirmed” message, hinting at something big. He had also promised to cover losses for meme coin creators on TRON, with proceeds going to charity.
Sun, who is a global advisor for HTX, is tied to this move, suggesting the transaction could be preparing for increased liquidity, new projects, or a surge in trading volume. Given Sun’s recent activities, this $1 billion transfer could be part of a larger plan.
Bybit CEO Ben Zhou Says 88.87% of What Lazarus Stole Is Still Traceable
Bybit CEO Ben Zhou revealed that 88.87% of the $1.4 billion stolen from the exchange in a hack is still traceable, despite efforts by the Lazarus Group, a North Korean hacking syndicate, to launder the funds using Bitcoin mixers.
The stolen assets, primarily 500,000 ETH, were converted into 12,836 BTC and distributed across 9,117 wallets.
While 3.54% of the funds have been frozen, 7.59% have disappeared into the dark web. North Korea now holds 13,562 BTC, making it the third-largest government holder of Bitcoin.
Zhou admitted Bybit had security warnings months before the attack but failed to address them in time.
The attack was carried out after hackers infiltrated Bybit’s system through compromised software, ultimately tricking Zhou into approving a fraudulent transaction that drained $1.5 billion in crypto.
The hack triggered panic withdrawals from users, amounting to nearly $10 billion. Despite this, Bybit remained solvent, and other companies like Bitget stepped in with financial support. Meanwhile, the Lazarus Group continues to launder the stolen funds through mixers and P2P networks.
Hyperliquid Rallies on Tiered Staking System
Hyperliquid’s HYPE token has seen a 14% increase in price over the last 24 hours, following the announcement of a new incentivized staking system.
The system introduces tiered staking, offering users discounts on trading fees, ranging from 5% to 40%, based on the amount of HYPE staked.
These fee savings will be implemented on or after April 30. The fees collected are used for the protocol’s market-making vault and to buy back HYPE tokens.
The protocol has been earning around $1.5 million in daily fees. This update is expected to incentivize large traders to purchase HYPE, with further staking features likely to follow.
South Korea Raids Bithumb Amid ex-CEO’s Alleged $2 mn Embezzlement
South Korean prosecutors raided the offices of crypto exchange Bithumb on March 20, investigating allegations that its former CEO, Kim Dae-sik, embezzled 3 billion Korean won to fund a personal apartment purchase.
Bithumb confirmed some of the allegations, stating that Kim took out a loan after a previous investigation by the Financial Supervisory Service (FSS) and later repaid the funds.
The probe comes as Bithumb pushes forward with plans for an initial public offering (IPO), aiming to go public in 2025 despite past legal challenges, including fraud charges against its former chairman. The company has been reorganizing to minimize judicial risks amid these efforts.
Kraken Close to Buying Futures Platform NinjaTrader for $1.5 bn
Kraken is reportedly close to finalizing a $1.5 billion deal to acquire U.S. futures trading platform NinjaTrader, according to a Wall Street Journal report.
This acquisition could allow Kraken to expand into a new asset class and attract more users. Sources familiar with the matter suggest that the deal could be announced as early as Thursday, with NinjaTrader continuing to operate as a separate entity under Kraken.
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