The blockchain platform, linked to US President Donald Trump, tripled Ether Holdings as an investment opportunity, tripling its crypto market as a week before the White House’s first crypto summit on March 7th.
Meanwhile, Solana suffered a nearly $500 million spill in February as cryptocurrency investors sought safer investments following the wave of Memecoin Scams and Rug Pulls.
Trump’s WLFI tripled Ether Holdings in a week amidst market slump
The Decentralized Finance (DEFI) platform linked to US President Donald Trump has significantly increased ether holdings over the past week as cryptocurrency prices fell shortly below $2,000.
Trump’s World Liberty Financial (WLFI) debt platform has tripled its ether (ETH) holdings over the past seven days.
ETH/USD, one month chart. Source: Cointelegraph
According to data provided by Arkham Intelligence, WLFI has approximately $10 million in Ether than a week ago. The latest acquisitions also include an additional $10 million in Wrap Bitcoin (WBTC) and a $1.5 million in Movement Network (Mobile) token.
Balance history for WLFI tokens. Source: Arkham Intelligence
Trump’s Defi platform is currently at unrealized losses of over $89 million across the nine tokens it invests in, the Lookonchain data show.
Source: LookonChain
The purchase of DIP took place during a period of rising market volatility and investor concern driven by both macroeconomic concerns and crypto-specific events.
Continue reading
Solana sees a $485 million spill in February to help Crypto Capital escape “safe”
Solana saw nearly $500 million last month as investors moved to what was perceived as a safer digital asset, reflecting the growing uncertainty of the cryptocurrency market.
Solana (Sol) has experienced more than $485 million in outflows over the past 30 days, with investor capital flowing primarily into Ethereum, arbitrum and BNB chains.
According to a Binance research report shared with the Cointelegraph, the capital’s Exodus came in a wider flight to “security” among participants in the crypto market.
Solana Outflows. Source: Debridge, Binance Research
“Overall, there is a broader flight to the security of the crypto market, with Bitcoin dominance rising by 1% over the past month to 59.6%,” the report said.
“Part of the capital has flowed into the memokine of the BNB chain, and partially driven by CZ’s tweets about Brocolli about his dog,” he added.
Beyond Solana, the total number of cryptocurrencies’ market capitalization fell 20% in February, driven by an increase in negative sentiment, Binance Research said.
In addition to macroeconomic concerns, the decline in sentiment among crypto investors was largely due to the $1.4 billion bi-bit hack on February 21, the biggest exploit in crypto history.
Disappointing at the launch of Solana-based Memecoin has curtailed investors’ desires, particularly after the launch of the Libra Token, approved by Argentine President Javier Mailey.
Continue reading
Trump will hold its first White House Script Summit on March 7th
US President Donald Trump will hold his first White House Script Summit on March 7th to bring together industry leaders to discuss Bitcoin’s regulatory policy, stablecoin surveillance and its potential role in the US financial system.
According to an announcement from the White House “AI and Crypto Czar,” attendees include “prominent founders, CEOs and investors of the Crypto industry” along with members of the President’s working group on digital assets, along with “famous founders, CEOs and investors,” according to an announcement shared by David Sacks on the X-Post on March 1.
The summit will be managed by Bohines, the Sack chair and executive director of the working group.
Source: David Sacks
Sachs was appointed White House Script and AI Czar on December 6, 2024, and “just addressing a legal framework, the crypto industry can thrive in the United States with the clarity it has been seeking,” Trump wrote in the announcement.
Part of the role of Sachs is to “protect” online speeches and “steer us away from major technical bias and censorship.”
Source: Donald Trump
Trump previously showed that he intends to make crypto policy a national priority and make the United States a global hub for blockchain innovation. Future summits could set a crypto-regulation tone over the next four years.
Continue reading
Crypto VC will handle $1.2 billion in February.
Venture capital accelerated funding for blockchain and cryptocurrency startups in February, indicating that Decentralized Finance (DEFI) projects attract critical investment flows and that demand for blockchain builders remains strong amidst a volatile market situation.
According to Tie data, 137 Crypto Companies raised a total of $11.1 billion in February.
Defi has secured nearly $176 million in total funding for 20 projects. Meanwhile, the eight business service providers raised a total of $230 million. Startups specializing in security services, payments and artificial intelligence have also attracted great interest.
Business service providers and DEFI project attracted the biggest investments in February. Source: Thailand
The largest venture capital investors target “several sectors that include key narratives such as AI, developer tools, Defi, Depin, funds, payments, and more.”
This data is consistent with recent reports from the Cointelegraph, showing a significant increase in distributed physical infrastructure network (DEPIN) transactions.
Continue reading
Bibit Hacker Wash 100% of $1.4 billion in 10 Days
Bibit Exploit washed 100% of the stolen funds after staging the biggest hack in cryptography history, but some of the loot could be recoverable by blockchain security experts.
On February 21, BYBIT was hacked with over $1.4 billion in liquid-sinked ether (STETH), mantle stakes ETH (METH), and other ERC-20 tokens, causing the biggest code theft in history.
Hackers have since moved all 500,000 stolen ether (ETH) mainly through the decentralized cross-chain protocol Thorchain.
“#Bybit hackers have washed all the stolen $499,395 ETH (currently $104 million) mainly through #ThorChain.”
Source: LookonChain
North Korean Lazarus Group has converted stolen revenues despite being identified as the main perpetrator behind attacks by multiple blockchain analytics companies, including Arkham Intelligence.
The news comes two months after South Korean authorities approved 15 North Koreans who allegedly generated funds for North Korea’s nuclear weapons development program through cryptocurrency robbery and cyber theft.
Continue reading
Overview of Defi Market
Most of the 100 largest cryptocurrencies by market capitalization ended in a week on Green, according to data from Cointelegraph Markets Pro and TradingView.
Of the top 100, Cartano (ADA) tokens rose more than 46% as the larger Top 100 winner, driven by the tokens inclusion in Trump’s upcoming digital asset stockpile. Bitcoin Cash (BCH) rose more than 40% as the second-largest winner in the past week.
Total value locked with Defi. Source: Defilama
Thank you for reading this week’s most impactful Defi development summary. See more stories, insights and education about this dynamic space next Friday.
