This week’s recap covers major legal rulings, cryptocurrency policy developments, and new technological advancements in the space. From a judge dismissing the SEC’s lawsuit against HEX founder Richard Heart to the Trump family’s growing metaverse ambitions, here’s everything you need to know.
Judge Dismisses SEC Case Against HEX Founder Richard Heart
U.S. District Judge Carol Bagley Amon has dismissed the SEC’s lawsuit against HEX, PulseChain, and Pulsex founder Richard Heart. The regulator had accused Heart of raising over $1 billion through unregistered cryptocurrency offerings and misusing $12.1 million on luxury purchases, including the world’s largest black diamond.
The judge ruled that there was insufficient connection between Heart’s alleged activities and the United States. Although Heart is a U.S. citizen, he resides in Finland, where he faces separate allegations of tax evasion and assault.
Trump to Host White House Crypto Summit
President Donald Trump is set to host a cryptocurrency summit on March 7, bringing together industry leaders and government officials. The event will be coordinated by David Sacks, the administration’s crypto and AI czar, alongside Bo Hines, executive director of the digital assets working group.
Trump Family Expands Into the Metaverse
A recent trademark application suggests the Trump family is planning a TRUMP-branded metaverse. This expansion signals their growing involvement in the cryptocurrency sector, extending beyond meme coins and NFTs. The U.S. Patent and Trademark Office filing was submitted on an “intent to use” basis.
MetaMask to Integrate Bitcoin and Solana
Popular cryptocurrency wallet MetaMask has announced plans to support Bitcoin and Solana. This move will eliminate the need for users to manage multiple wallets or rely on wrapped tokens. Bitcoin integration is set for Q3 2025, while Solana support is expected by May.
Bybit Hackers Convert Stolen Funds to Bitcoin
Hackers responsible for the Bybit breach have transferred at least 209,384 Ethereum (ETH), worth approximately $480 million, into Bitcoin. Blockchain intelligence firm Arkham Intelligence reported that $240 million of the stolen funds were laundered through THORChain before being converted to native BTC.
Meanwhile, North Korea’s Lazarus Group moved another 62,200 ETH ($138 million) on March 1, leaving them with 156,500 Ethereum from the original theft, according to crypto researcher EmberCN.
SEC Drops Consensys and Coinbase Lawsuits
The SEC has agreed to dismiss its lawsuit against Consensys, the developer behind MetaMask, over alleged securities law violations. Ethereum co-founder and Consensys CEO Joseph Lubin confirmed that the SEC will formally move to end the case.
Additionally, the SEC has filed to dismiss its case against Coinbase with prejudice, confirming an earlier agreement and ensuring that the lawsuit cannot be refiled.
BitMEX Explores Potential Buyers
Cryptocurrency exchange BitMEX is exploring acquisition opportunities as it faces ongoing regulatory challenges. The exchange, co-founded by Arthur Hayes in 2014, has struggled since being charged in 2020 for failing to implement proper anti-money laundering protocols.
Metaplanet Plans Additional Bitcoin Purchases
Japanese firm Metaplanet is seeking to raise 2 billion yen ($13.6 million) through zero-interest ordinary bonds to fund additional Bitcoin acquisitions.
SEC and Tron Request Case Pause
The SEC, Tron Foundation, and Justin Sun have filed a joint motion requesting a temporary halt to the regulator’s legal case against Tron. The SEC initially sued Tron, Sun, and BitTorrent in July 2023 for alleged market manipulation, fraud, and issuing unregistered securities.
ZachXBT Joins Paradigm as Security Advisor
Renowned blockchain investigator ZachXBT has joined investment firm Paradigm as an incident response advisor. Paradigm co-founder Matt Huang praised ZachXBT’s efforts, noting that he has helped recover over $350 million for scam and hack victims.
SEC Closes Uniswap Investigation
The SEC has terminated its investigation into Uniswap Labs, which operates the decentralized exchange protocol Uniswap. The move comes nearly a year after Uniswap received a Wells notice signaling the SEC’s intent to file charges.
Strive CEO Urges GameStop to Adopt Bitcoin Reserves
Strive Asset Management CEO Matt Cole has formally requested that GameStop consider Bitcoin as a reserve asset. Cole believes Bitcoin adoption could position GameStop as a leader in the evolving digital economy.
Sam Bankman-Fried Breaks X Silence
Former FTX CEO Sam Bankman-Fried posted publicly for the first time in two years, addressing the challenges of firing employees. His comments suggest that terminations often result from company-role mismatches rather than employee shortcomings.
OKX Affiliate Reaches $505M DOJ Settlement
OKX’s affiliate, Aux Cayes FinTech Co. Ltd, has agreed to a $505 million settlement after pleading guilty to serving U.S. customers without proper licensing and failing to comply with anti-money laundering regulations. The settlement includes a $420.3 million criminal forfeiture and an $84.4 million criminal fine.
MicroStrategy Completes Nearly $2 Billion Bitcoin Purchase
The company formerly known as MicroStrategy has acquired 20,355 Bitcoin at an average price of $97,514 per coin, marking a total investment of nearly $2 billion.
Binance Founder Zhao Reveals Portfolio Holdings
Binance founder Changpeng Zhao disclosed his cryptocurrency holdings, revealing that BNB comprises 98.48% of his portfolio. His remaining assets include a 1.32% allocation to Bitcoin and smaller positions in stablecoins EURI (0.17%) and USDT (0.03%).
Pump.fun Explores Automated Market Maker Development
The Solana-based meme coin launchpad Pump.fun is reportedly testing an in-house automated market maker (AMM) that could replace Raydium as the default decentralized exchange for new token listings.
This week’s developments highlight a mix of legal victories, regulatory shifts, and strategic advancements in the crypto space. With the upcoming White House crypto summit and continued market movements, the landscape remains dynamic and unpredictable.
