ProBit Global Highlights:
Another thrilling week is here, and our exciting events are still going strong! 🚀
Ongoing Events:
We also hosted an AMA this past Wednesday on our official X account—stay tuned for highlights if you missed it!
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Sudden Tariff Shock Sparks $1 Billion Crypto Liquidation Spree
A sudden wave of liquidations hit the crypto market, wiping out over $1 billion in the past 24 hours. Analysts point to newly imposed U.S. tariffs on major trading partners as the trigger, causing both stock markets and crypto prices to plummet. Bitcoin briefly soared to around $93,000, only to dip below $82,000 following tariff announcements. Other cryptocurrencies, including Ether and Solana, faced even steeper losses. Much of the optimism that arose when President Trump floated a potential U.S. crypto reserve—including Bitcoin, Ether, XRP, and Cardano—vanished in the sell-off. This turmoil shows how global economic factors can overshadow even the most promising crypto developments.
The Unfinished Ripple–SEC Battle
While the U.S. Securities and Exchange Commission (SEC) has recently dropped several high-profile crypto cases, one stands out for its persistence: the case against Ripple. Filed in December 2020, it alleges that sales of XRP were unregistered securities. Despite a partial victory for Ripple in 2023, the lawsuit remains active, and Ripple still faces a hefty fine and a “bad actor” label. Some experts believe Ripple is seeking a more favorable legal outcome, while others think internal SEC disagreements are prolonging matters. Regardless, the standoff reveals how today’s crypto regulation is shaped less by courts and more by backroom deals.
U.S. Expands Crypto Reserve to Multiple Tokens
The White House has announced plans to create a national crypto reserve that includes Bitcoin, Ether, Solana, XRP, and Cardano. This marks a departure from earlier promises of a strictly Bitcoin “strategic stockpile.” A new executive order directs the Working Group on Digital Assets to evaluate regulations for stablecoins while halting development of a central bank digital currency (CBDC). Bitcoin supporters are divided, with some wanting a Bitcoin-only reserve. Despite disagreements, the industry is awaiting the upcoming White House crypto summit, where officials and executives will explore America’s evolving approach to digital asset policy.
MetaMask Reveals User-Friendly Upgrades in New Roadmap
MetaMask, a leading self-custodial wallet on Ethereum, is introducing major enhancements to simplify crypto management. Users will soon benefit from smart contract wallet features, potentially offering extra security and recovery tools beyond the standard “public/private key” wallets. One highlight is ERC-5792 “batched transactions,” enabling combined actions (like approve + swap) in a single step to save time and gas fees. Additionally, MetaMask plans to launch its debit card for U.S. customers—letting them spend crypto anywhere that accepts Mastercard—and will add Bitcoin and Solana support. Altogether, these updates aim to streamline how users handle digital assets across multiple networks.
Court Delays Do Kwon’s US Hearing After Massive New Evidence Surfaces
A Manhattan federal judge has postponed former Terraform Labs CEO Do Kwon’s next hearing until April 10, giving both sides more time to examine a fresh trove of four terabytes of evidence. Prosecutors say the newly obtained data includes information from search warrants on multiple online accounts and materials from third-party entities. Kwon, already facing nine felony charges, was extradited from Montenegro late last year. He pleaded not guilty in January. The Terra Luna ecosystem he co-founded collapsed in May 2022, wiping out $60 billion in value. Kwon’s trial date remains set for January 26, 2026.
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