By Shikha Singh
By Shikha Singh Tether Raises Bitdeer Stake to 21%: SEC Filing
Tether, the issuer of the USDT stablecoin, increased its stake in bitcoin miner Bitdeer to 21%.
The acquisition was financed with Tether’s working capital, following an initial investment of $100 million in May 2024, the company said in an SEC filing.
Tether is diversifying its portfolio after banking record profit, including adding stakes in Juventus FC and a bid for a majority stake in Adecoagro.
Metaplanet Continues Bond Issuance for Bitcoin Buys
Japan’s Metaplanet has issued more zero-interest bonds, using some of the proceeds to buy 150 BTC worth around $12.5 million.
In a notice to shareholders, the Tokyo-based company said it issued 2 billion yen worth $13.4 million of the bonds to buy the bitcoin, with Evo fund once again acting as the sole bondholder. The bonds will be redeemed in full on Sept. 17.
Hashdex Seeks to Expand U.S. Crypto ETF to Include Litecoin, XRP and Other Altcoins
Crypto asset manager Hashdex filed an amendment with the U.S. Securities and Exchange Commission (SEC) seeking to add litecoin (LTC) and XRP among other cryptocurrencies to its Nasdaq Crypto Index US ETF.
The proposal also lists cardano’s ADA, solana’s SOL and other altcoins including LINK, AVAX and UNI. The fund is currently mostly bitcoin (BTC) with some exposure to ether (ETH), according to Hashdex’s website.
Canary Capital Files for SUI ETF After Reserve Deal With World Liberty Financial
Canary Capital has submitted paperwork with the Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) tracking the price of Sui (SUI), a layer-1 blockchain.
The hedge fund manager on Monday submitted an S-1 filing with the SEC after previously registering a trust entity in the state of Delaware — on March 7 — which appeared on the state’s Division of Corporations website.
Canary Capital has filed several crypto ETF filings with the Securities and Exchange Commission (SEC) in recent months, including for Dogecoin (DOGE), Solana (SOL) and XRP, among others.
The decision to launch a SUI ETF comes 10 days after Trump-affiliated decentralized finance (DeFi) platform World Liberty Financial (WLFI), said that it would add Sui assets to its token reserve and explore product development opportunities.
Binance Introduces Binance Alpha 2.0 to Enhance Trading Experience
Binance has introduced Alpha 2.0, an upgraded version of its Binance Alpha product, designed to simplify transactions between centralized (CEX) and decentralized exchanges (DEX).
The new platform integrates directly with the Binance exchange, enhancing liquidity, capital efficiency, and user accessibility while remaining compatible with the Binance Wallet.
The main improvement in Binance Alpha 2.0 is its ability to purchase on-chain tokens directly within the Binance exchange, eliminating the need to transfer assets to external wallets or create on-chain wallets.
Users can now use funds from their Binance spot accounts, funding accounts, or Binance Pay-supported accounts, reducing transaction costs and simplifying the trading process.
Offchain Labs Debuts ‘Onchain Labs’ Program To Support Arbitrum Application Developers
Offchain Labs, the core developer of Ethereum Layer 2 Arbitrum, has launched the Onchain Labs initiative in partnership with the Arbitrum Foundation.
The initiative aims to enhance Arbitrum’s application layer by supporting early-stage developers with technical assistance and go-to-market strategies, leveraging Arbitrum’s sub-second block times and Stylus developer compatibility.
Offchain Labs will provide support from ideation through launch, emphasizing fair and community-aligned project launches, though it warns that supported projects may be experimental.
The first Onchain Labs-supported project will be announced soon. Since launching Arbitrum One in 2021, Offchain Labs has developed technologies like the AnyTrust chain, Orbit for permissionless chain deployment, and the Universal Intents Engine.
The firm raised $120 million in a 2021 Series B funding round and recently introduced a plan to add ARB, Arbitrum’s native token, to its treasury.
Ordinals Trading Spikes 1,200% on Magic Eden But Momentum Quickly Fades
In late February, Magic Eden experienced a sudden surge in Ordinals trading volume, jumping from an average of $1.76 million per day to over $15.5 million, and then averaging nearly $50 million daily for eight days, totaling over $448 million.
This spike was isolated to Magic Eden and coincided with the minting period for the Idiots, a 10,000-supply Bitcoin NFT collection on Magic Eden. The spike ended on March 9, with a 95% drop in trading volume.
Looking ahead, the Ordinals sector may see renewed interest with the upcoming public auction for the Taproot Wizards collection—one of the most prominent Bitcoin-based NFT communities—potentially sparking a prolonged trading narrative.
Ethena & Securitize Launch Converge, A New Institutional-Grade EVM Chain For Tokenized Assets
Ethena Labs, the tokenization firm behind the USDe synthetic dollar and USDtb stablecoin backed by BlackRock’s BUIDL fund, plans to move its $6 billion DeFi ecosystem to Converge, a new Ethereum-compatible blockchain developed with Securitize.
Converge aims to enhance DeFi accessibility for institutions by offering compliant settlement and custodial services, integrating a native KYC wrapper, and providing access to Ethena and Securitize’s whitelisted investment products.
The blockchain will support two main use cases: settlement for permissionless spot and leveraged DeFi trading, and storage/settlement for stablecoins and tokenized assets.
Custodial services will be provided by Copper, Fireblocks, Komainu, and Zodia, with major DeFi protocols like Aave, Ethereal, Maple Finance, Morpho, and Pendle as launch partners.
Memecoin Index Plunges 90% as Crypto Markets Retreat
The memecoin hype that fueled crypto markets in 2024 has significantly cooled in 2025. The GMCI Meme Index dropped from around 550% gains in December 2024 to just 80% in March, marking a 90% decline.
Major memecoins like Shiba Inu, Dogecoin, Pepe, and Trump tokens have faced heavy selling as traders exit positions.
This downturn extends beyond memecoins, with all GMCI indices trending downward since early 2025. While the AI and GMCI30 indices show moderate declines, the GMCI12 and DeFi indices have seen steeper drops.
The decline coincides with macroeconomic uncertainty and rising U.S. trade tensions, reducing risk appetite across markets.
Memecoin platforms like Pump.fun reflect this shift, with daily revenues falling below $1 million, down from their peak of multi-million-dollar daily fees.
Vitalik Buterin Sells Meme Tokens For 71.69 ETH, Mints 315K DAI
Vitalik Buterin, co-founder of Ethereum, recently minted 315,382 DAI and sold several meme tokens for 71.69 ETH, including 146.18 billion FML, 180 bn SHIB, 7 bn VB, & 366 mn AWESOME.
Earlier, he sold 5,000 DHN for 65 ETH, causing the token’s price to drop 57% from $38 to $16.
Buterin still holds 5,000 DHN, currently valued at approximately $113,000, reflecting his active role in both Ethereum and broader crypto markets.
Furthermore, adding to his influence, a documentary titled “Vitalik: An Ethereum Story” will release on April 15 on Apple TV and Prime Video.
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