This week in crypto, significant developments took place, from major stock offerings to regulatory advancements and corporate expansions. Here’s a breakdown of the biggest stories shaping the industry.
Strategy Launches $21 Billion Preferred Stock Offering
Michael Saylor’s Strategy announced a massive $21 billion at-the-market offering of its Series A preferred stock (STRK) to fund additional Bitcoin acquisitions.
The firm remains one of the largest corporate holders of Bitcoin, amassing just under 500,000 BTC, but its stock has been on a downtrend this year. The move reinforces Saylor’s long-term commitment to Bitcoin despite market volatility.
Coinbase Expands Hiring and Returns to India
Coinbase CEO Brian Armstrong revealed plans to hire 1,000 U.S. employees in 2025, citing renewed optimism under the Trump administration. Armstrong emphasized that Trump is “breathing life back into the crypto industry,” signaling bullish sentiment.
In addition, Coinbase reentered the Indian market after securing registration with India’s Financial Intelligence Unit (FIU). This marks a significant comeback following its earlier withdrawal due to regulatory pressures.
Binance Secures Investment, Zhao Denies Trump Talks
Binance secured a $2 billion investment from Emirati state-owned firm MGX, marking the largest investment ever made in cryptocurrency. The transaction will be conducted entirely in stablecoins rather than traditional currency.
Meanwhile, Binance founder Changpeng Zhao (CZ) denied a Wall Street Journal report suggesting discussions about a potential Trump family investment in Binance US. In a post on X, CZ stated, “The WSJ article got the facts wrong,” explicitly rejecting claims of any negotiations.
Latin American Crypto Cooperation Grows
El Salvador and Paraguay signed a cooperative framework to develop cryptocurrency sector regulations and enhance enforcement against unlicensed operations. Paraguay’s SEPRELAD emphasized that regulatory alignment will help both nations strengthen their crypto oversight.
South Korea Prepares Institutional Crypto Investment Guidelines
South Korea’s Financial Services Commission announced plans to release institutional investment guidelines for cryptocurrency by Q3 2025.
Non-profit organizations and crypto exchanges will receive guidance earlier, with their frameworks expected in April 2025.
Crypto Enforcement & Legal Developments
- Garantex Operator Arrested: Indian authorities arrested Aleksej Besciokov, one of the alleged operators of the illicit cryptocurrency exchange Garantex. The Lithuanian national is accused of facilitating money laundering on the platform.
- Argentine Lawyer Seeks Arrest for LIBRA Founder: Attorney Gregorio Dalbon requested an international arrest warrant for Hayden Davis, the founder of the controversial memecoin LIBRA, citing flight risk concerns.
Ethereum Developers Announce New Hoodi Testnet
The Ethereum Foundation announced plans to launch a new testnet, Hoodi, on March 17. This follows technical difficulties faced by Holesky and Sepoli hard forks.
Meanwhile, Ethereum remains in a deep bear market, down 53% from its December highs, as investors remain cautious amid stock market uncertainties and Trump’s tariff policies.
Three Arrows Capital Expands FTX Bankruptcy Claim
A Delaware bankruptcy court approved Three Arrows Capital’s (3AC) claim increase from $120 million to $1.53 billion against the FTX estate. This represents a major milestone in resolving financial fallout from two of the largest crypto collapses.
Additional Highlights:
- Ripple Secures Dubai Regulatory Approval: The company obtained a license from Dubai’s Financial Services Authority to operate regulated crypto payments in the UAE, strengthening its Middle East presence.
- MoonPay Acquires Stablecoin Infrastructure Platform: MoonPay acquired Iron, an API-focused stablecoin payments infrastructure, in a deal reportedly worth over $100 million.
From corporate expansions to regulatory shifts, this week’s crypto developments highlight the sector’s ongoing transformation. As institutional investments and government policies evolve, the industry is poised for significant changes in the coming months. Stay tuned for more updates in next week’s recap!
