Decentral Block Post

Coinbase’s emergence as the Ethereum network’s largest node operator raises concerns about network centralization that could worsen as institutional adoption accelerates, industry executives told Cointelegraph. 

On March 19, Coinbase published a report disclosing that the US cryptocurrency exchange controlled more than 11% of staked Ether (ETH), more than any other Ethereum node operator. 

According to Karan Sirdesai, CEO of Web3 startup Mira Network, Coinbase’s growing dominance highlights “a systemic issue in Ethereum’s staking architecture.”

“We’re creating a system where a handful of major players control an outsized portion of network security, undermining the core promise of decentralization,” Sirdesai told Cointelegraph.

According to the report, Coinbase controlled 3.84 million ETH staked to 120,000 validators, representing 11.42% of staked Ether as of March 4. 

The Department of Government Efficiency, or DOGE, led by Tesla CEO Elon Musk is reportedly moving into the United States Securities and Exchange Commission (SEC).

According to a March 28 Reuters report, Musk’s DOGE team contacted the SEC and was told it would be given access to the commission’s systems and data. The agency reportedly planned to establish a liaison team to work with the “efficiency” team, whose intentions were not immediately clear.

“Our intent will be to partner with the DOGE representatives and cooperate with their request following normal processes for ethics requirements, IT security or system training, and establishing their need to know before granting access to restricted systems and data,” said an email to SEC staff, according to Reuters.

US President Donald Trump in January signed an executive order allowing DOGE to implement cost-cutting measures, claiming efforts “to save taxpayers money.” However, many of Musk’s efforts — including attempting to fire staff at the US Agency for International Development, or USAID, and shutting down the watchdog Consumer Financial Protection Bureau (CFPB) — face lawsuits in federal court from parties alleging DOGE’s actions were illegal or unconstitutional.

Related: Can the law keep up with Musk and DOGE?

Opinion by: Eran Barak, CEO at Midnight 

It’s been almost 16 years since blockchain emerged from its esoteric fringes to enter global discourse, evidenced most recently by continued backing from Wall Street incumbents. Despite this remarkable ascendancy, the unfortunate truth is that this technology has yet to realize its true business potential. A core challenge persists: Too much sensitive data remains publicly unshielded.

The crux of the issue is that companies must keep business data confidential, and people strive to safeguard their personal information as best they can. Once data is put on a public blockchain, however, it becomes irreversibly and indefinitely exposed.

Even if a business takes every possible precaution to conceal data, mistakes made by others or vulnerabilities in the system can expose sensitive onchain data or metadata, including participants’ identities. This can lead to privacy breaches, compliance violations or both, undermining the foundational assumption that blockchain is trusted and underscoring the importance of robust measures to protect sensitive data.

On the other side of that coin, concealing activity on a blockchain can open the door to money laundering, triggering negative government responses. Instances in which this has occurred have led to a false impression that governments oppose Web3 privacy, a criterion businesses fundamentally need for them to adopt the technology. 

Key takeaways

Bitcoin is legal in Australia and is regulated by AUSTRAC and the Australian Taxation Office (ATO). 

You can buy Bitcoin on various platforms, including centralized exchanges, decentralized exchanges (DEXs), P2P platforms and Bitcoin ATMs

Payment options are diverse, including credit cards, debit cards, bank transfers and fiat cash deposits at ATMs

Store your Bitcoin securely and opt for cold wallets, which protect you better than custodial wallets from crypto exchanges. 

Bitcoin adoption continues to grow. More and more Australians are discovering the cryptocurrency as an investment vehicle, with ownership rising from 23% in 2023 to 32.5% in 2025, an impressive 41.3% increase. Because there are several platforms to choose from, buying Bitcoin is low-threshold and secure. 

Bitcoin (BTC) sought a local bottom on March 28 while US inflation data came in higher than expected.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

Bitcoin wobbles as PCE comes in hot

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD heading to $85,500 at the Wall Street open before reversing.

Down over 3% on the day, the pair saw lows under $84,500 on Bitstamp, marking its lowest levels since March 23.

The February print of the US Personal Consumption Expenditures (PCE) Index subsequently showed inflation quickening — in contrast to the result from a month prior.

Suspicious trading activity led decentralized exchange Hyperliquid to delist the Jelly-my-Jelly (JELLY) memecoin, with details of an exploit unraveling over the course of a few days. 

The decentralized finance sector has already seen historic exploits in 2025, as the space struggles with issues of oversight and security. The Bybit hack saw North Korean hackers get away with $1.4 billion in February alone.

The JELLY incident, in which a whale exploited the Hyperliquid exchange’s liquidation parameters, getting away with millions, is just the latest exploit to rock the industry. 

Observers roundly criticized Hyperliquid’s reaction to the short squeeze, with one even comparing it to the ill-fated FTX. Here’s a look at how the incident unfolded.

Jelly token price crashes ahead of Hyperliquid exploit

Venmo co-founder Iqram Magdon-Ismail launched the JELLY token as part of the JellyJelly Web3 social media project. Following the launch on Jan. 30, the token price crashed from $0.21 to just $0.01 some 10 days later. 

Blockchain developer platform Gelato is launching a new blockchain-as-a-service solution on Avalanche to meet the growing demand for sovereign blockchain infrastructure during a crucial “tipping point” for institutional adoption.

Gelato, which previously developed blockchain solutions for companies such as Kraken and Animoca Brands, unveiled the new upgrade that aims to let developers deploy fully sovereign chains faster and cheaper with full interoperability via Avalanche InterChain Messaging (ICM).

Gelato emphasized that its service is ideal for advanced applications such as financial technology (fintech) requiring identity verification (KYC) and specialized gaming economies, according to a March 28 announcement shared exclusively with Cointelegraph.

The service lets companies quickly deploy independent (“sovereign”) blockchains with fewer costs and faster launch times.

Luis Schliesske, founder of Gelato, said previously launching a blockchain required extensive technical knowledge and significant engineering resources. Gelato’s new product reduces the complexity involved. He told Cointelegraph:

Community members backing a Broccoli memecoin on BNB Chain are outraged, claiming their project was unfairly denied victory in the network’s liquidity support program.

The BNB Chain Meme Liquidity Support Program, which kicked off on Feb. 18, offers $200,000 in permanent liquidity to the top-performing memecoins on the chain. But controversy erupted on day two of the competition on Feb. 19 when two memecoins — both inspired by Binance founder Changpeng Zhao’s dog Broccoli — went head-to-head.

In the end, the Broccoli token ending in address “714” was declared the winner over the one ending in “F2B.” However, supporters of the F2B token say the result doesn’t add up.

Related: BNB Chain scales up network as memecoin activity boosts transaction load

F2B Broccoli community investigation questions score

According to the official leaderboard, both tokens earned a daily score of 5.7 in a system where lower is better. Per competition rules, a tie is broken by comparing trading volume, and 714’s token had the edge in that category.

US stock exchange Nasdaq submitted a filing to the US Securities and Exchange Commission (SEC) seeking permission to list Grayscale Investments’ spot Avalanche exchange-traded fund (ETF).

The document, filed on March 27, asks for a rule change to list the Grayscale Avalanche Trust (AVAX). The derivative product in question would be a conversion of Grayscale Investments’ close-ended AVAX fund launched in August 2024.

Grayscale said on its website that “its SEC-reporting Products present a strong case for uplisting when permitted by the U.S. regulatory environment.” The firm explained that, following the conversion, “the arbitrage mechanism inherent to ETFs would help the product more closely track the value” of the assets.

At the time of publication, the Grayscale Avalanche Trust holds $1.76 million worth of assets under management. The current net asset value per share is $10.86 for just over 0.49 AVAX per share, worth $10.11 according to CoinMarketCap data, which puts the fund’s current market price at a 7.4% premium to the value of its underlying assets.

Related: NYSE proposes rule change to allow ETH staking on Grayscale’s spot Ether ETFs

The XRP (XRP) market is flashing warning signs as a bearish technical pattern emerges on its weekly chart, coinciding with macroeconomic pressures from anticipated US tariffs in April.

XRP descending triangle pattern hints at 40% drop

Since its late 2024 rally, the XRP price chart has been forming a potential triangle pattern on its weekly chart, characterized by a flat support level mixed with a downward-sloping resistance line.

A descending triangle pattern forming after a strong uptrend is seen as a bearish reversal indicator. As a rule, the setup resolves when the price breaks below the flat support level and falls by as much as the triangle’s maximum height.

XRP/USD weekly price chart. Source: TradingView

As of March 28, XRP was testing the triangle’s support for a potential breakdown move. In this case, the price may fall toward the downside target at around $1.32 by April, down 40% from current price levels.

Michael Novogratz’s crypto investment firm Galaxy Digital agreed to pay $200 million in a settlement related to its alleged promotion of the now-collapsed cryptocurrency Terra (LUNA)

According to New York Attorney General’s Office documents filed on March 24, Galaxy Digital acquired 18.5 million LUNA tokens at a 30% discount, then promoted them before selling them without abiding by disclosure rules. The filing states:

As part of the settlement agreement, Galaxy will pay $200 million in monetary relief over three years: $40 million within 15 days, another $40 million within one year, and two additional payments of $60 million due within the second and third years, respectively.

Related: A beginner’s guide on algorithmic stablecoins

Galaxy Digital reportedly spread fake news

The filing also accused Galaxy Digital and Novogratz of spreading false claims about Terra’s usage. In particular, the firm allegedly stated that the South Korean payments app Chai was built on the Terra blockchain, which was not accurate.

The United Arab Emirates expects its digital dirham central bank digital currency to roll out in the fourth quarter of 2025. 

According to a report in the Khaleej Times, Central Bank of the UAE Governor Khaled Mohamed Balama reportedly said that the blockchain-based currency could improve financial stability and help combat financial crime. According to the report, the retail sector could expect the issuance of a digital dirham in the last quarter of 2025. 

“It [digital dirham] will further enable the development of innovative digital products, services, and new business models while reducing cost and increasing access to international markets,” Balama reportedly said.

The report also stated that the digital dirham and its physical counterpart will be accepted as a payment method in all payment channels. 

The news comes as the digital dirham received a rebrand. The first letter of the dirham will be its international symbol, along with two horizontal lines representing the currency’s stability, inspired by the UAE flag. 

Opinion by: Jimmy Su, Binance chief security officer

The threat of InfoStealer malware is on the rise, targeting people and organizations across digital finance and far beyond. InfoStealers are a category of malware designed to extract sensitive data from infected devices without the victim’s knowledge. This includes passwords, session cookies, crypto wallet details and other valuable personal information.

According to Kaspersky, these malware campaigns leaked over 2 million bank card details last year. And that number is only growing.

Malware-as-a-service

These tools are widely available via the malware-as-a-service model. Cybercriminals can access advanced malware platforms that offer dashboards, technical support and automatic data exfiltration to command-and-control servers for a subscription fee. Once stolen, data is sold on dark web forums, Telegram channels or private marketplaces.

The damage from an InfoStealer infection can go far beyond a single compromised account. Leaked credentials can lead to identity theft, financial fraud and unauthorized access to other services, especially when credentials are reused across platforms.

Sales of non-fungible tokens (NFTs) dropped sharply in the first quarter of 2025, plunging 63% year-over-year. Still, a few standout collections defied the downturn and posted gains.

NFTs recorded $1.5 billion in total sales from January to March 2025, down from $4.1 billion during the same period in 2024, according to data from aggregator CryptoSlam. March accounted for the steepest decline, with sales falling 76% to $373 million compared with $1.6 billion last year.

Despite the slowdown, collections including Doodles, Milady Maker and Pudgy Penguins outperformed expectations, showing strength amid the downturn.

Pudgy Penguins, Doodles, Milady defy NFT downturn in Q1

Among the largest NFT collections, CryptoPunks recorded $60 million in Q1 2025 sales, down 47% from $114 million in the first quarter of 2024.

The Bored Ape Yacht Club (BAYC) had an even bigger drop of 61%. The monkey-themed NFT collection had a sales volume of only $29.8 million in Q1 2025, down from $78 million in Q1 2024. 

North Korea-affiliated hackers may have scaled back their operations in the second half of 2024 while preparing for what became the largest crypto hack in history.

The crypto industry was rocked by the enormous hack on Feb. 21 when Bybit lost over $1.4 billion to the infamous North Korean Lazarus Group, which seems to have prepared the attack months in advance.

According to blockchain analytics firm Chainalysis, illicit activity tied to North Korean cyber actors sharply declined after July 1, 2024, despite a surge in attacks earlier that year.

The slowdown in crypto hacks by North Korean agents had raised significant red flags, according to Eric Jardine, Chainalysis cybercrimes research Lead.

North Korean hacking activity before and after July 1. Source: Chainalysis

LY Corporation denied that its Web3 venture, Line Next, had entered into a business partnership with Soneium, a Sony-backed Ethereum layer-2 network.

The statement, issued on March 28, followed media reports and social media coverage that suggested a partnership had been finalized between LY and Soneium.

“These reports were based on an announcement made by Soneium on [March 12] that it plans to expand its business by using the LINE API and LINE Mini Apps on our platform, although no business partnership or the like has been established between Soneium and LY Corporation,” LY said.

In response, a Soneium spokesperson told Cointelegraph: “Our March 12 announcement refers to a collaboration, which involves exploring the integration of onchain Mini Apps within the Line ecosystem. We stand by the accuracy of all content published in our official statement.

“LY Corporation has also directed readers to our announcement for context and clarification. Additionally, Soneium received permission to reference Line in that announcement, and the Kaia Mini App is not exclusive to any single provider,” the spokesperson added.

Bitcoin (BTC) risks falling into a fresh bear market as a large collection of BTC price metrics has produced a “bearish divergence.”

In a social media discussion on March 27, Bitcoin commentators flagged troubling signals from the Capriole Investments’ Bitcoin Macro Index.

Bitcoin Macro Index slump “not great,” says creator

As BTC/USD struggles to return to the area around all-time highs, onchain metrics are beginning to lose their bull market edge.

The Bitcoin Macro Index, created by Capriole in 2022, uses machine learning to analyze data from a large number of metrics that founder Charles Edwards says “give a strong indication of Bitcoin’s relative value throughout historic cycles.”

“The model only looks at onchain and macro-market data. Uniquely, price data and technical analysis is not considered as an input in this model,” he explained in an introduction to the tool at the time.

Influencer Logan Paul should be allowed to continue a lawsuit accusing the YouTuber known as “Coffeezilla” of making defamatory remarks about Paul’s failed CryptoZoo project, a Texas magistrate judge said.

In a March 26 report filed in a San Antonio federal court, Magistrate Judge Henry Bemporad recommended that federal Judge Orlando Garcia, overseeing the case, deny Stephen Findeisen’s bid to toss Paul’s lawsuit, as Findeisen presented his claims more akin to facts than “mere opinion.”

“At the pleading stage, Plaintiff [Paul] has sufficiently alleged that the statements at issue in this case are reasonably capable of defamatory meaning and are not unactionable opinions,” Bemporad wrote.

“The Court should reject Defendants’ contention that context renders Findeisen’s statements nondefamatory,” he added.

Paul sued Findeisen in June, claiming one of Findeisen’s X posts and two YouTube videos about his CryptoZoo non-fungible token (NFT) project were malicious and caused reputational damage.

Bitcoin will break past its $109,000 all-time high sooner than expected despite recent volatile US macroeconomic conditions, according to a crypto analyst. 

“The market may be underestimating how quickly Bitcoin could surge – potentially hitting new all-time highs before Q2 is out,” Real Vision chief crypto analyst Jamie Coutts told Cointelegraph. 

He said this forecast stands regardless of whether or not there is more clarity on US President Donald Trump’s tariffs and potential recession concerns.

Trump’s tariffs blamed for Bitcoin’s recent downtrend

Bitcoin (BTC) fell below $100,000 on Feb. 2, with many market participants blaming the downturn on Trump’s newly imposed tariffs and uncertainty over US interest rates. 

Coutts based his rosy rebound prediction on easing financial conditions, a weakening US dollar and the People’s Bank of China ramping up liquidity since early 2025.

South Carolina has become the latest US state to dismiss its lawsuit against crypto exchange Coinbase over its staking services, which had accused the crypto exchange of offering unregistered securities.

The lawsuit was officially dismissed in a joint stipulation between the crypto exchange and the South Carolina Attorney General’s securities division on March 27.

“South Carolina just joined Vermont to dismiss its unfounded staking lawsuit against Coinbase,” the firm’s chief legal officer, Paul Grewal, said in a March 27 X post.

South Carolina Attorney General and Coinbase’s joint stipulation. Source: South Carolina Attorney General

South Carolina and Vermont were two of 10 US states that took legal action against Coinbase's staking services on June 6, 2023 — the same day that the federal securities regulator filed its lawsuit against the crypto exchange.