KEYTAKEAWAYS
- Regulatory environment continues improving with SEC dropping Crypto.com probe, South Carolina dismissing Coinbase lawsuit, and nominee Atkins prioritizing crypto clarity.
- Institutional adoption accelerates as BlackRock's BUIDL fund triples to $1.87B in three weeks while Binance embraces retail interest with four new meme token listings.
- Legal accountability progresses with Galaxy Digital's $200M Terra-Luna settlement and Senator Kennedy pressing SEC nominee about preventing potential SBF pardon.
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. SEC Ends Investigation into Crypto.com
Crypto.com announced that the U.S. Securities and Exchange Commission (SEC) had ended its investigation into the exchange, making it the latest crypto firm to have its probe concluded.
In a statement on Thursday, Crypto.com confirmed that the SEC would not be pursuing any enforcement action against the company.
“Under the previous administration, the SEC weaponized and attempted to expand its congressionally granted power to harm an industry that its former chair disfavored,” said Crypto.com Chief Legal Officer Nick Lundgren.
This development follows a pattern of the SEC dismissing multiple investigations and lawsuits against crypto firms, including Kraken, Coinbase, Gemini, Robinhood, OpenSea, Yuga Labs, Immutable, and Ripple.
2. Binance to List Four Popular Meme Tokens
According to an official announcement, Binance will list Mubarak (MUBARAK), CZ’SDog (BROCCOLI714), Tutorial (TUT), and BananaForScale (BANANAS31) on March 27, 2025, at 21:00 (UTC).
The exchange will open trading pairs for these tokens with USDT and USDC.
Users can start depositing one hour before trading opens, and withdrawals will be available from March 28, 2025, at 21:00 (UTC).
3. Maven 11 Closes Third Fund at $107 Million
Maven 11 has closed its oversubscribed third fund at $107 million, surpassing the initial target of $100 million. However, it took several months longer than initially planned to secure the funding, with the firm citing difficult market conditions.
The fund was anchored by Theta Capital Management, with participation from European and Asian institutional backers. Maven 11’s third fund is slightly smaller than its second fund, which closed at $120 million in December 2021.
According to the announcement, Maven 11 Fund III will be deployed over the next 3-4 years and has already deployed about 15% of the fund. The firm plans to write checks in the range of $500,000 to $5 million for both equity and token rounds, focusing on consumer applications, infrastructure, and projects at the intersection of blockchain and AI.
4. Hyperliquid Announces Compensation Plan After JELLY Market Incident
According to Hyperliquid’s announcement, users holding JELLY long positions will be compensated at a price of 0.037555 at the time of settlement due to an abnormal trading event.
The incident involved a trader self-filling a JELLY position worth 4 million USDC at 0.0095, after which the price increased more than fourfold, triggering a buyback and liquidation that resulted in losses.
Hyperliquid has enhanced risk management measures, including stricter account value limits, reduced rebalancing frequency, dynamic adjustment of open interest caps, and an asset delisting mechanism through on-chain voting.
5. SEC Nominee Paul Atkins Makes Crypto Regulation a “Top Priority”
Paul Atkins, President Donald Trump’s pick for chair of the US Securities and Exchange Commission, stated in his confirmation hearing that crypto regulation would be a “top priority” for him.
Atkins, a former SEC commissioner from 2002 to 2008, emphasized that under his leadership, the SEC would prioritize regulatory clarity to address the current uncertainty in financial markets that has hindered innovation.
“A top priority of my chairmanship will be to work with my fellow commissioners and Congress to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach,” Atkins said.
Senator Tim Scott praised Atkins, while Senator Elizabeth Warren expressed concerns about his impartiality regarding the digital asset industry, noting that Atkins disclosed owning up to $6 million in crypto-related assets prior to the hearing.
NOON NEWS
1. CZ Denies Strategic Considerations in Abu Dhabi MGX Investment
Binance founder Zhao Changpeng (CZ) responded on social media to discussions about the ‘Abu Dhabi MGX $2 billion investment in Binance’, stating ‘there are no betting clauses, and no strategic considerations (at least from my personal perspective).’
2. YZi Labs to Host AI and Blockchain Fintech Hackathon
YZi Labs will host a hackathon focusing on AI and blockchain-driven fintech solutions. The offline hackathon will be held on April 12, and the online hackathon will take place from April 13 to 27.
Outstanding builders will have the opportunity to join the YZi Labs incubation program and receive direct investment from YZi Labs.
3. South Carolina Dismisses Lawsuit Against Coinbase
South Carolina has dismissed its lawsuit against Coinbase related to staking services. The state’s Attorney General’s securities division officially dropped the case in a joint stipulation with the crypto company on March 27, 2025.
This makes South Carolina the second state to withdraw such legal action, following a similar dismissal by Vermont earlier this month. The lawsuit was part of a coordinated action by ten states filed on June 6, 2023, accusing Coinbase of offering unregistered securities through its crypto staking services.
Coinbase’s chief legal officer, Paul Grewal, celebrated the dismissal, claiming that South Carolina residents lost an estimated $2 million in staking rewards as a result of the restrictions. Staking services are now live again in South Carolina across all Coinbase platforms.
Eight states continue to maintain similar lawsuits against Coinbase, including Alabama, California, Illinois, Kentucky, Maryland, New Jersey, Washington, and Wisconsin.
4. Hyperliquid Announces Compensation for JELLY Traders After Market Incident
According to Hyperliquid’s announcement, users holding long positions in JELLY will be compensated at a price of 0.037555 upon settlement due to an abnormal trading event.
The incident occurred when a trader self-executed a JELLY position worth 4 million USDC at a price of 0.0095, after which the price rose more than 4 times, triggering a buyback and liquidation.
Hyperliquid has strengthened its risk management framework with stricter account value limits, reduced rebalancing frequency, dynamic open interest limits, and an asset delisting mechanism through validator voting.
5. BlackRock’s BUIDL Fund Triples to $1.87 Billion in Three Weeks
BlackRock’s BUIDL fund has surged from $615 million to $1.87 billion in just three weeks, representing a major vote of confidence in blockchain-based investments from the institutional world.
BUIDL (USD Institutional Digital Liquidity Fund) is BlackRock’s first major tokenized offering, operating on the Ethereum blockchain and investing primarily in U.S. Treasury bills, repurchase agreements, and cash—all tokenized into blockchain-compatible representations.
The fund’s rapid growth highlights several key advantages of tokenized assets: faster settlement times, greater transparency, easier liquidity, fractional ownership, and reduced overhead. The success of BUIDL sends a clear message that tokenization is rapidly becoming a mainstream investment vehicle.
EVENING NEWS
1. Justin Sun Featured on Forbes Digital Assets Cover
Justin Sun, Global Advisor of HTX and Founder of TRON, has been featured on the daily cover of Forbes digital assets, marking a significant milestone in the blockchain industry.
Sun becomes the second Chinese entrepreneur, after Jack Ma, and the fourth crypto exchange figure, following CZ, SBF, and Brian Armstrong, to achieve this prestigious recognition. Forbes profiles Sun as a “Crypto Billionaire Who Helped The Trumps Make $400 Million,” highlighting his distinct influence and global vision.
The Forbes article also highlights Sun’s collaboration with the Trump family, a partnership that reportedly generated over $400 million. His $75 million investment in the Trumps’ World Liberty Financial (WLFI) project demonstrates how crypto can be strategically deployed to integrate with mainstream business initiatives.
2. European Regulator Proposes 100% Capital Requirement for Crypto Holdings
According to Cointelegraph, the European Insurance and Occupational Pensions Authority (EIOPA) has proposed a stringent regulation requiring insurance firms to maintain capital equivalent to their crypto holdings.
This measure aims to mitigate risks for policyholders and sets a higher standard compared to other asset classes like stocks and real estate, which do not require full backing. EIOPA’s Technical Advice report to the European Commission suggests a 100% haircut in the standard formula for crypto assets, citing their inherent risks and high volatility.
The proposal seeks to address a regulatory gap between existing EU frameworks, as the current rules for insurers lack specific provisions for crypto assets. Despite the immaterial share of crypto asset-related insurance undertakings (just 655 million euros or 0.0068% of all undertakings in Europe), EIOPA emphasizes the high-risk nature of crypto investments.
3. Galaxy Digital to Pay $200 Million Settlement Over Terra-Luna Collapse
Galaxy Digital (GLXY), the Mike Novogratz-led digital asset financial services firm, will pay $200 million as a settlement with the New York Attorney General’s (NYAG) office relating to the collapse of the Terra-Luna ecosystem in 2022.
The firm will pay $200 million to the State of New York for matters relating to its investment, trading, and public statements about LUNA, which collapsed in May 2022, wiping out around $60 billion in value.
Galaxy disclosed the settlement as part of its latest earnings statement, which reported profit of $174 million and $365 million for Q4 and the full year of 2024 respectively, when the accrued legal provision for the settlement with NYAG is included.
The company has also entered a 15-year lease agreement with cloud-computing firm CoreWeave, through which it will supply 133 MW of electricity for artificial intelligence and high-performance computing at its Helios data center in West Texas, expecting to generate around $4.5 billion in revenue throughout the lease.
4. Senator Kennedy Questions SEC Nominee About Potential SBF Pardon
US Senator John Kennedy grilled prospective Securities and Exchange Commission (SEC) chairman Paul Atkins about a potential pardon for Sam “SBF” Bankman-Fried during the Senate Banking Committee’s March 27 nomination hearing.
The Louisiana Republican directed a series of questions about the former FTX CEO toward Atkins and probed the prospective SEC chairman about donations Bankman-Fried’s family made to Stanford University.
Kennedy urged the SEC to take action to prevent any potential pardons for SBF, stating, “There should not be two standards of law and punishment for people in America. And every time you come to this committee, I am going to pounce on you like a ninja to find out what the SEC has done because I don’t think the SEC has done a damn thing.”
Reports emerged in January that SBF’s parents were seeking a pardon for their son from recently-elected US President Donald Trump.
5. Zhu Su Comments on Institutional Interest in Real World Assets
Zhu Su, founder of the now-defunct cryptocurrency hedge fund Three Arrows Capital and Open Exchange, posted on social media that institutional investors are interested in RWA (Real World Assets) because they hope that every $1 of RWA Total Value Locked (TVL) can be converted into a certain proportion of protocol token market value.
He gave the example that $100 million of RWA could potentially bring $100 million of token market value.
Zhu also stated, “Just like BTC L2 and ETH re-staking are hidden Launchpools, RWA is a dollar Launchpool.”
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