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CoinRank Crypto News Roundup: (3/17)|TON Network Staking Reaches 766M, Tech Giants Lose $2.7T, Lazarus Group Now 3rd Largest BTC Holder

CoinRank Crypto News Roundup: (3/17)|TON Network Staking Reaches 766M, Tech Giants Lose $2.7T, Lazarus Group Now 3rd Largest BTC Holder

KEYTAKEAWAYS

  • North Korea's Lazarus Group now controls 13,562 BTC worth $1.14B from the Bybit hack, making it the third-largest government Bitcoin holder behind the US and UK.
  • The "Magnificent Seven" US tech giants have lost $2.7T in market value over three weeks, with Tesla declining 33% despite Elon Musk's central role in the Trump administration.
  • BNB Chain overtakes Solana in 24-hour DEX trading volume ($1.64B), driven by explosive meme coin activity including Mubarak, which turned one trader's $1,155 into $1.5M.

CONTENT

Welcome to the CoinRank Crypto News Roundup. CoinRank will provide daily important crypto news in this column series, allowing readers to quickly obtain the latest crucial updates from the cryptocurrency market.


MORNING NEWS

 

1. TON Network Has 766 Million Tokens Staked

According to tonscan data, the TON network currently has a total of 766 million TON staked. The current staking APY is 4.9%, and there are 398 verification nodes in the network.

 

2. US Tech Giants Lose $2.7 Trillion in Market Value

Over the last three weeks, since the Nasdaq touched its yearly high, the seven most valuable U.S. tech companies—often called “the Magnificent Seven”—have lost a combined $2.7 trillion in market value. The sell-off has pushed the Nasdaq to its lowest level since September, down 4.9% for the week and heading toward its worst weekly performance in six months. The decline was sparked by President Trump’s promises of high tariffs on top trading partners and mass government worker firings, raising recession fears. Apple has lost $529 billion (14%), Microsoft $267 billion (9%), Nvidia $577 billion (17%), Amazon $347 billion (14%), Alphabet $275 billion (12%), Meta $286 billion (16%), and Tesla $386 billion (33%) since February 19. Goldman Sachs now refers to the group as the “Maleficent 7.”

 

3. Fed Rate Cut Probability Drops to 2% for March Meeting

According to CME Fed observation data, with only 3 days remaining until the next FOMC meeting (interest rate decision announced at 2 a.m. on March 20, Eastern Time), the probability of the Fed cutting interest rates by 25 basis points in March is only 2%, with a 98% probability of rates remaining unchanged. The probability of a 50 basis point cut by May is 0.5%, with a 27.7% probability of a 25 basis point cut, and a 71.8% probability of no change.

 

4. Solana Celebrates 5th Anniversary with Impressive Metrics

Solana officially posted on X platform to celebrate its 5th anniversary, stating: “Over the past 5 years, there have been more than 408 billion transactions on the Solana chain; over 1,300 validator nodes; and DEX trading volume exceeds $98.7 billion. 5 years have passed, and we have just begun.”

 

5. North Korean Hackers Become Third-Largest Government Bitcoin Holder

According to News.bitcoin, after the Lazarus Group hacked Bybit, it began converting some of the stolen assets into Bitcoin. Data shows that the group now owns 13,562 BTC, worth about $1.14 billion. This has caused North Korea’s Bitcoin holdings to continue rising, surpassing El Salvador (6,117 BTC) and Bhutan (10,635 BTC), making it the third-largest government entity in terms of Bitcoin holdings, behind only the United States (198,109 BTC) and the United Kingdom (61,245 BTC).

 

 

NOON NEWS

 

1. Trader Turns $1,155 into $1.5 Million on MUBARAK

A trader turned $1,155 into $1.5 million with MUBARAK, a memecoin launched on March 13 following CZ’s post about the Binance and MGX deal. In the publication, CZ used the word “mubarak” (Arabic for “blessed”), which sparked a new hype cycle. The unknown trader purchased 20.84 million MUBARAK for just 2 BNB ($1,155), sold some assets, and now holds 13 million tokens worth $1.56 million. Had they not locked in profits, their portfolio would be worth $2.5 million. Amid the excitement, the BSC network surpassed Ethereum and Solana in terms of DEX trading volumes.

 

2. BNB Chain Overtakes Solana in DEX Trading Volume

According to DeFiLlama data, driven by memecoins like Mubarak, the BNB Chain DEX reached a trading volume of $1.64 billion in the last 24 hours, surpassing Solana to take the top spot. Meanwhile, PancakeSwap, the main DEX on BNB Chain, became the DEX with the highest trading volume in the last 24 hours.

 

3. Wemix Reports $6.22 Million Loss from February Hack

According to BlockBeats, the Wemix Foundation, a subsidiary of Wemade, has disclosed a loss of approximately 8.65 million WEMIX tokens, valued at around $6.22 million, due to a hacking incident. The breach occurred on February 28 when hackers exploited the authentication keys of the NFT platform ‘Nile’ to attack the Play Bridge Vault system. The delay in announcing the breach was due to concerns about potential further attacks and market panic. Wemix has reported the incident to the police and initiated a buyback plan worth 10 billion Korean won to protect investors. The Korea Digital Asset Trading Association has designated WEMIX as a trading warning project and suspended deposits.

 

4. FalconX Executes First CME Solana Futures Block Trade

Digital asset prime broker FalconX has announced the successful completion of the first-ever block trade for Solana futures on the CME Group platform. The transaction, with StoneX as the counterparty, took place just a day before the official launch of CME’s new Solana futures contracts on March 17. Block trades are large, privately negotiated futures or options trades executed separately from the public market to avoid impacting prices. The move reflects growing institutional interest in Solana, with CME Group steadily expanding its digital asset futures offerings after previously launching contracts for Bitcoin and Ethereum.

 

5. Trump’s Ex-Wife Urges Dismissal of Case Against Roger Ver

On March 16, U.S. President Donald Trump’s second ex-wife, Marla Maples, urged the U.S. government to dismiss the prosecution against early Bitcoin investor and promoter Roger Ver, who has been accused of defrauding the government of $48 million through tax evasion. Following President Trump’s pardon of Silk Road creator Ross Ulbricht, multiple high-profile figures including Ethereum co-founder Vitalik Buterin and conservative commentator Tucker Carlson have voiced support for Ver. Ver was arrested in Spain in April 2024 and is facing extradition to the U.S. He appealed to President Trump for a pardon on January 26, but the appeal remains unacknowledged. Elon Musk commented that since Ver has renounced his U.S. citizenship, he shouldn’t be pardoned.

 

 

EVENING NEWS

 

1. Pump.fun Revenue Hits 4-Month Low

According to DefiLlama data, Pump.fun’s protocol fee revenue yesterday was approximately $791,000, the lowest single-day value since November 4, 2024.

 

2. BNB Chain Launches Anti-Sandwich Feature with Compensation

Binance co-founder He Yi posted on social media that the anti-sandwich feature has been fully launched on the BNB Chain. If users experience serious sandwich attacks, they can direct message Binance employee “sisi binance,” and compensation will be provided within 24 hours.

 

3. XUSD Stablecoin Surges 5% After Binance Listing Announcement

StraitsX USD, a Singaporean firm-issued USD stablecoin, soared as high as 5% after Binance announced it will list the token on March 19. Binance will open trading for the XUSD/USDT spot trading pair, offering zero trading fees for this pair indefinitely. Users can begin withdrawing XUSD from the exchange on March 20. XUSD’s market cap currently stands at nearly $33 million, with a trading volume of $3.3 million in the past 24 hours and a total supply of 22.3 million tokens. StraitsX is a payment institution licensed by the Monetary Authority of Singapore and part of the Fazz ecosystem, which facilitates business banking in Southeast Asia.

 

4. Digital Asset Investment Products See $1.7 Billion Outflow

Digital asset investment products experienced significant net outflows last week, totaling $1.7 billion. This marks the fifth consecutive week of outflows, bringing the total outflows during this period to $6.4 billion. The outflows were primarily driven by Bitcoin investment products, which saw $978 million in outflows, contributing to a total of $5.4 billion in outflows over the past five weeks. This sustained outflow trend highlights growing caution among investors in the digital asset space, possibly due to market volatility or other economic factors.

 

5. Hong Kong Advances Stablecoin Regulation

During an AMA event hosted by OSL, Hong Kong Legislative Council member Wu Jiezhuang revealed that the Hong Kong fiat-backed stablecoin bill is currently under review by the Legislative Council. The Hong Kong Monetary Authority (HKMA) will soon follow up with the licensing application process to provide a clearer compliance pathway. Additionally, Hong Kong will initiate a public consultation on OTC and custody licenses, with plans to start legislation by the end of the year to ensure both online and offline OTC trading platforms are effectively regulated. Wu also noted that the Hong Kong Securities and Futures Commission announced 20 new regulatory measures in February, including inviting top global exchanges to apply for licenses and simplifying the compliance process for token listings.

 

 

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