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Tracks company news, strategic changes, funding activities, and personnel adjustments across the blockchain and crypto industries, delivering a full-spectrum industry overview for our users.

Stole $2 Million from pump.fun, Sentenced to 6 Years in Prison, He Chose to 'Self-Destruct'

In May 2024, pump.fun was exploited for approximately $2 million worth of SOL and meme coins. The attacker, Jarett Dunn (also known as Stacc), a former employee, was later sentenced to six years in prison. Two days prior to the sentencing, he leaked internal Telegram chats from his time at the company, claiming to be a whistleblower exposing misconduct. However, the leaked messages did not reveal deliberate malicious activities such as market manipulation or fee misconduct by pump.fun. Instead, Dunn highlighted issues like the team's failure to implement KYC/AML measures for live streaming features, which he had warned about, and what he perceived as irresponsible attitudes toward known "Ruggers" (developers who abandon projects after fundraising). Some messages also illustrated the company's early-stage disorganization, including rushed contracts under investor pressure. Dunn, a talented programmer diagnosed with paranoid schizophrenia at age 20, had joined pump.fun just six weeks before the attack. His mother had recently died, and he had been off medication for months. After the exploit, he was arrested near pump.fun’s London office and underwent mental health treatment. He later attempted to withdraw his guilty plea and expressed homelessness in social media posts. The leak included private phone numbers of pump.fun co-founders, raising privacy concerns. The overall narrative portrays a troubled individual whose actions were influenced by personal trauma and mental health challenges, rather than clear evidence of systemic corruption at pump.fun.

marsbit03/06 07:41

Stole $2 Million from pump.fun, Sentenced to 6 Years in Prison, He Chose to 'Self-Destruct'

marsbit03/06 07:41

RWA Weekly: Republicans Urge Senate to Adopt House Crypto Bill, EU's 12-Bank Alliance Qivalis Plans to Launch Euro Stablecoin

RWA Weekly Digest: March 6, 2026 The RWA sector continues to grow, with the total on-chain market cap reaching $26.52 billion. The stablecoin market cap saw a slight increase to $299.09 billion, marking two consecutive months of growth, while monthly active addresses rose to 53.48 million. Key regulatory developments include the U.S. Fed affirming a "technology-neutral" capital treatment for tokenized securities, and a U.S. Senate housing bill that included a temporary ban on a CBDC until 2030. The OCC issued rules limiting indirect interest payments on stablecoins. Japan's central bank announced plans to conduct trials for blockchain-based settlements. Significant project launches highlight the trend of traditional finance moving on-chain. A coalition of 12 EU banks, named Qivalis, plans to launch a MiCA-compliant euro stablecoin in the second half of the year. Germany's AllUnity expanded its offerings with a Swiss franc-pegged stable币, CHFAU. The Canadian government, alongside TD Bank, successfully piloted a C$100 million blockchain bond. In payments, Visa and Stripe are planning to expand their stable币 card issuance to over 100 countries. Western Union partnered with Crossmint to launch its USDPT stable币 on Solana. Funding activity remained strong. ARQ raised $70 million to expand its stablecoin-based financial applications in Latin America. QFEX secured $9.5 million in seed funding to launch a high-leverage RWA trading platform. Tether made a strategic investment in Axiym to integrate USDT into compliant payment networks. The European Central Bank issued a warning that widespread stable币 adoption, particularly of those pegged to foreign currencies like the USD, could pose significant risks to monetary policy and the banking system. Analysis from TD Cowen suggested that banks might lose the political battle over stable币 yield payments, though prolonged debate could jeopardize broader crypto legislation in the U.S.

marsbit03/06 07:21

RWA Weekly: Republicans Urge Senate to Adopt House Crypto Bill, EU's 12-Bank Alliance Qivalis Plans to Launch Euro Stablecoin

marsbit03/06 07:21

OG Trader Sillytuna Says $24M Crypto Theft Came With Violent Threats

Sillytuna, a prominent early Ethereum NFT trader, reported a $24 million cryptocurrency theft involving AUSD and aETHUSDC. The incident, which occurred on March 4, 2026, combined an on-chain address-poisoning scam with real-world violence, weapons, and threats of kidnapping and rape. Although physically unharmed, Sillytuna was deeply shaken and announced he is leaving the crypto space. He later offered a 10% bounty for the recovery of the funds, even to those involved in the crime. This case highlights a trend of hybrid crypto crimes where online scams escalate into physical threats. Recent months have seen similar high-value thefts, including a $50 million USDT loss in December 2025, indicating that even experienced traders are vulnerable to sophisticated, multi-layered attacks.

bitcoinist03/06 07:02

OG Trader Sillytuna Says $24M Crypto Theft Came With Violent Threats

bitcoinist03/06 07:02

6% Annual Yield: Musk Declares War on Traditional Banks

Elon Musk's X Money, a new financial product, offers a 6% annual percentage yield (APY) on deposits, a rate 600 times higher than traditional U.S. banks like JPMorgan Chase. The product includes a laser-engraved metal debit card linked to users' X handles, instant Visa Direct settlements, zero foreign transaction fees, and FDIC insurance up to $250,000 via Cross River Bank. The high yield is enabled by a low-cost, cloud-native infrastructure without physical branches, leveraging X's over 500 million monthly active users for near-zero customer acquisition costs. This model threatens traditional banks' profit margins, payment intermediaries like PayPal, and remittance services by potentially creating a closed-loop financial ecosystem within X. Key regulatory challenges include pending money transmitter licenses in New York, allegations of data misuse, and compliance with the GENIUS Act, which prohibits stablecoin issuers from paying yields. Integration with AI system Grok aims to transform X into an AI-driven wealth management and content-monetization platform. If successful, X Money could become a U.S. version of China's super-apps like WeChat Pay, though regulatory hurdles may limit its impact. The outcome could significantly disrupt traditional banking and payment industries.

marsbit03/06 06:06

6% Annual Yield: Musk Declares War on Traditional Banks

marsbit03/06 06:06

The Great Migration of Mining Companies: Some Already Hold $12.8 Billion in AI Orders

Bitcoin mining companies are undergoing a massive structural shift toward AI and high-performance computing (HPC), driven by compressed mining profits and the lure of massive AI infrastructure contracts. With Bitcoin’s mining difficulty rising and profitability declining, miners are leveraging their existing assets—power contracts, land, cooling systems, and data centers—to pivot into AI compute provisioning. Key players like TeraWulf have secured over $12.8 billion in HPC contracts, while IrisEnergy holds a $9.7 billion deal with Microsoft. Other firms, including Hut8, CipherDigital, and CoreScientific, have also announced multi-billion dollar AI agreements. Some, like BitDigital, are exiting Bitcoin mining entirely to focus on AI and Ethereum infrastructure. Financial reports show a clear trend: AI/HPC revenue is becoming a major income source, sometimes surpassing mining. Capital markets are selective, favoring companies with strong execution, resource advantages, and strategic positioning within the AI supply chain. The migration is accelerating—miners must adapt to the new reality or risk obsolescence.

marsbit03/06 05:58

The Great Migration of Mining Companies: Some Already Hold $12.8 Billion in AI Orders

marsbit03/06 05:58

The Great Migration of Mining Companies: Some Already Hold $12.8 Billion in AI Orders

Driven by rising Bitcoin mining difficulty, shrinking profits, and extreme capital pursuit of AI, major crypto mining firms are collectively pivoting towards AI and high-performance computing (HPC). They leverage existing assets—power, land, cooling systems, and data centers—to secure massive AI compute orders. Key catalysts include Bitcoin’s hashprice dropping to multi-year lows, pushing firms like Bitdeer to sell all BTC holdings and NFN8 into bankruptcy. Conversely, companies are securing enormous contracts: TeraWulf holds a $12.8B HPC deal, IrisEnergy a $9.7B order with Microsoft, and Hut8 a $7B agreement. Others like CipherDigital ($5.5B with AWS) and CoreScientific ($10B+ with CoreWeave) are rebranding and expanding data centers. Q1 2026 earnings show AI/HPC revenue now constitutes 40%-60% for some. While firms like Marathon Digital remain committed to Bitcoin long-term, others like BitDigital have fully exited BTC mining for ETH and AI. Market sentiment is volatile but selective, with capital backing execution-ready firms with strong power contracts and scalability. The migration is structural: adapt to AI or risk obsolescence.

Odaily星球日报03/06 05:48

The Great Migration of Mining Companies: Some Already Hold $12.8 Billion in AI Orders

Odaily星球日报03/06 05:48

Bitwise Backs Bitcoin Devs With Over $380K In Donations

Bitwise Asset Management has donated $233,000 to support open-source Bitcoin developers, bringing its total contributions to over $380,000 since the launch of its Bitcoin ETF (BITB) in January 2024. The firm pledged to donate 10% of the ETF’s annual gross profits to fund Bitcoin development. The latest donation benefits three organizations: Brink, OpenSats, and the Human Rights Foundation’s Bitcoin Development Fund. These groups support developers who maintain and secure the Bitcoin network, often without pay. BITB has attracted over $2.5 billion in inflows, and Bitwise has committed to scaling future contributions with the fund’s growth. The company has also extended this model to its Ethereum ETF. Bitwise manages more than $15 billion in assets across various crypto ETFs.

bitcoinist03/06 02:02

Bitwise Backs Bitcoin Devs With Over $380K In Donations

bitcoinist03/06 02:02

21Shares launches first Polkadot ETF as altcoin investment products expand

21Shares is launching the first U.S. exchange-traded fund (ETF) tracking Polkadot, named TDOT, set to begin trading on March 6. This marks a significant expansion of regulated crypto investment products beyond Bitcoin and Ethereum. The ETF will hold DOT tokens directly and use a pricing benchmark from major trading venues. Structured as a grantor trust, it may also stake a portion of its holdings to earn rewards. This move reflects growing institutional demand for diversified crypto exposure through familiar regulated structures, as asset managers explore ETFs for other major cryptocurrencies like Solana and Chainlink.

ambcrypto03/05 22:10

21Shares launches first Polkadot ETF as altcoin investment products expand

ambcrypto03/05 22:10

XRP ETF Race: Bitwise Says It’s Now America’s Largest

Bitwise's XRP spot ETF (ticker: XRP) has become the largest in the U.S. by net assets, with $289 million, narrowly surpassing Canary's XRPC at $285.79 million. The fund saw $10 million in inflows this week. The entire XRP ETF category holds $1.08 billion in assets, with cumulative net inflows reaching $1.26 billion. However, the market has shifted from its initial launch surge, where 77% of inflows occurred in the first four weeks, to a slower maintenance phase with average weekly inflows now in the single-digit millions. This allows leadership rankings to change on marginal flow differences. Other major funds include Franklin's XRPZ and 21Shares' TOXR. XRP's price was $1.42 at the time of reporting.

bitcoinist03/05 20:02

XRP ETF Race: Bitwise Says It’s Now America’s Largest

bitcoinist03/05 20:02

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