Zoth logic contract attacked Coinbase negotiates acquisition of Deribit

Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance, covering weekly key news, mining information, project trends, technological progress and other industry trends. This article is one of the news weekly news magazines, which will take you to take a look at the major events in the blockchain industry this week.

Headlines

▌Slow Fog: Zoth is suspected to be attacked due to leaking administrator rights

The Slow Fog team issued a security alert saying that the Zoth platform was suspected to have been attacked due to the leakage of administrator rights, and the core logic contract was tampered with and replaced with malicious contracts.

▌ Coinbase is in deep negotiations on the acquisition of Deribit

Coinbase is in-depth negotiations on the acquisition of derivatives crypto trading platform Deribit. Some people familiar with the matter said the two sides have informed the Dubai regulator of negotiations because Deribit holds a relevant license in Dubai. According to data platform Kaiko, Deribit is the world's largest Bitcoin and Ethereum options trading platform, while Coinbase is the largest crypto trading platform in the United States. It is not clear whether Coinbase has reached a final agreement with Deribit. Bloomberg reported in January that Deribit's valuation could be between $4 billion and $5 billion. There may not be an agreement in this negotiation. The person familiar with the matter asked to be anonymous because it was a confidential negotiation to be discussed.

▌Trump 's speech at the summit ended in 2 minutes, and no new policy was announced

The total length of US President Trump's "speak" at the 2025 Digital Assets Summit is only about 2 minutes, all of which are "scene words" and there is no new content, not what journalist Eleanor Terrett revealed before - Trump will announce his subsequent encryption policy at the US Digital Assets Summit.

▌Nvidia will build a research center for accelerated quantum computing

Nvidia announced on March 18 that it is establishing a research center in Boston to provide cutting-edge technologies to drive the development of quantum computing. NVIDIA Accelerated Quantum Research Center (NVAQC) will integrate leading quantum hardware and AI supercomputers to achieve accelerated quantum supercomputing. NVAQC helps solve the most challenging problems in the field of quantum computing, ranging from quantum bit noise to converting experimental quantum processors into practical devices. Leading innovative companies in quantum computing such as Quantinuum, Quantum Machines and QuEra Computing will work with NVAQC to jointly advance the development of quantum technology through in-depth collaboration with researchers from top academic institutions such as the Harvard Quantum Project (HQI) and the MIT Engineering Quantum Systems Group (EQuS).

▌US SEC: PoW mining does not constitute securities issuance

The U.S. Securities and Exchange Commission (SEC) issued a statement on March 20 that cryptocurrency mining activities based on the Proof of Work (PoW) mechanism do not constitute securities issuance and therefore do not require registration under the Securities Act. The statement pointed out that whether miners mine independently or through mining pools, the rewards earned are direct returns to their computing resources, rather than profits based on the management or operation of others, and therefore do not meet the definition of an "investment contract". The SEC stressed that the determination is only applicable to specific types of mining activities, and other transactions involving crypto assets still require case analysis.

policy

▌Trump executive director says it will implement the "best plan" to buy Bitcoin

In an interview, the executive director of US President Trump said that there are "numerous plans" for the country to buy Bitcoin, and said that "we will implement the best plans." The statement may imply that the Trump administration will continue to advance its Bitcoin reserve strategy in the future.

▌U.S. House Committee to review and advance the stablecoin bill on April 2

March 22 news, according to Bloomberg, the U.S. House Financial Services Committee is expected to review a landmark stablecoin legislation on April 2, a priority for President Donald Trump and the cryptocurrency industry. The bill is expected to be passed by the committee, people familiar with the matter said. The progress marks a significant increase in the crypto industry’s influence in the U.S. Congress, thanks to bipartisan support from key Democrats such as New York Senator Kirsten Gillibrand, as well as record campaign spending that helped beat industry rivals and elect allies.

▌South Korea plans to impose sanctions on unregistered trading platforms such as BitMEX and KuCoin

South Korean financial authorities are planning to impose sanctions on crypto trading platforms such as BitMEX, KuCoin, CoinW, Bitunix and KCEX that have not registered with the Financial Intelligence Agency (FIU) but provide Korean-language website services. FIU said that the above exchange was not registered as a virtual asset service provider (VASP) as required and was therefore deemed to be illegal. Relevant officials said they are consulting with the South Korean Communications Standards Committee to review plans to block access to these unregistered overseas exchanges, and specific measures are expected to be introduced within the year.

▌Russian Central Bank Governor: We believe that cryptocurrencies are a volatility tool

Russia's central bank governor Nabiulina said we believe cryptocurrencies are a volatility tool. (Jin Shi)

▌Australia announces new crypto regulations, pledging to crack down on "debankization"

The Albanese government in Australia has unveiled a new regulation on cryptocurrency exchanges and stablecoins and plans to curb "debanization". Under Prime Minister Anthony Albanes, the Australian government has developed a new regulatory framework for digital assets that aims to provide industry players with greater certainty while addressing risks associated with consumer protection and market integrity. The reform requires major crypto platforms to obtain Australian financial services licenses, while small businesses and businesses that do not involve financial services will be exempted. The Ministry of Finance’s Statement on Developing an Innovative Australian Digital Asset Industry, released Thursday details plans to regulate digital asset platforms and payment stablecoins under the existing financial services law. The Ministry of Finance wrote that the move is consistent with similar regulatory approaches in the EU and Singapore. "By aligning with international best practices, Australia can enhance global competitiveness in our digital asset sector." It is worth noting that both the EU and Singapore have taken significant steps to regulate cryptocurrencies. The EU has introduced special MiCA (Crypto Asset Market) regulations, while Singapore has extended its existing payment service laws to a licensing and compliance framework, including crypto service providers.

Blockchain application

▌Walrus Foundation, the entity behind the Walrus Agreement, completed a US$140 million financing

The Walrus Foundation, the entity behind the Walrus protocol, completed a $140 million financing through the sale of its cryptocurrency $WAL, led by Standard Crypto, and other investments include a16z, Electric Capital and Franklin Templeton Digital Assets. The total supply of the Walrus protocol cryptocurrency is valued at $2 billion, and the project will build a decentralized storage network.

▌Aave Founder: New Community Proposal to Launch New Aave Pledge Module

Aave founder Stani.eth posted on the X platform that the community has initiated a proposal to launch a new Aave staking module to enable AAVE repurchase and fee conversion.

▌Central Bank: Accelerate the digital and intelligent transformation of finance, and promote the application of artificial intelligence models in the financial field safely, steadily and orderly

The People's Bank of China held the 2025 Science and Technology Work Conference. The meeting required to strengthen the integration of industry and technology, deepen data governance, promote the application of new technologies, and strengthen the information technology support for the central bank to perform its duties. Promote the construction of an independent, controllable, safe and efficient financial infrastructure system, and maintain network security and data security. Accelerate the digital and intelligent transformation of finance, and promote the application of artificial intelligence models and other applications in the financial field safely, steadily and orderly.

▌World Network cooperates with Razer to launch a single sign-on mechanism to solve robot problems in the game

World Network is partnering with gaming hardware company Razer to launch a range of features to solve robotic problems in video games. The "Razer ID verified by World ID" jointly launched by both parties is a single sign-on mechanism that can distinguish real players from robots. The mechanism is built on Razer ID, the existing login service, to ensure that “there is a real person behind every Razer ID account.” "Game developers now have a tool to build dynamic spaces dominated by real players rather than robots," said World Network in a statement. "As AI continues to reshape the game world, we want to provide gamers and game developers with the tools they need to respond safely and confidently. By working with World, we ensure real players are at the heart of every experience, keeping the game fair, immersive and designed for humans."

Telegram introduces transaction and earnings capabilities for its self-hosted crypto wallet

Telegram self-hosted cryptocurrency wallet developed by the third-party company The Open Platform (TOP), has launched new features such as multi-asset trading and income for users. According to today's update, the TOP said users will be able to buy, sell or hold cryptocurrencies without any on-chain deposits. Later this year, TOP plans to increase revenue for USDT holdings and launch a loyalty program that will benefit Toncoin holders. Telegram wallet has also been revamped, with a new navigation bar at the bottom that can easily switch between wallet, transactions and earnings sections.

Cryptocurrency

▌Analysis: The probability of the US government purchasing Bitcoin in 2025 is 30%

Matthew Sigel, director of digital assets research at VanEck, posted on the X platform that Bloomberg legal analysts believe the federal government is 30% likely to buy bitcoin this year. It believes that Trump will not invest political capital into legislation because he can achieve this unilaterally through the Exchange Stabilization Fund (ESF) if he wants.

▌IMF has included digital assets such as Bitcoin into the global economic reporting framework for the first time

The International Monetary Fund (IMF) released its seventh edition of the Balance of Payments Manual (BPM7) on March 20, which will include digital assets such as cryptocurrencies into the global economic reporting framework for the first time, the manual has been updated since 2009. According to the new framework, digital assets are divided into replaceable tokens and irreplaceable tokens, and are further classified according to whether they assume related liabilities: - Unendorsed assets such as Bitcoin are classified as non-productive non-financial assets and classified as capital accounts; - Liabilities-backed digital currencies such as stablecoins are regarded as financial instruments; - Platform tokens such as ETH and SOL may be classified as equity instruments if held cross-border; - Pledge and cryptocurrency income activities are regarded as dividend income sources; - Mining and pledge- related services are recognized as exportable computer services. (CrowFund Insider) The IMF plans to promote widespread adoption of BPM7 and the latest national account system by 2029-2030.

▌Coinbase CEO: Support privacy protection and look forward to working with the Ministry of Finance to combat illegal activities

Coinbase CEO Brian Armstrong recently expressed his opinion on social media about the previous U.S. Treasury lifted sanctions on Tornado Cash: "No one wants to see criminals use cryptocurrencies. But privacy is an important feature for many law-abiding citizens, and you can't sanction open source code (it's a free speech issue). It's great to see this problem resolved." He added: "We look forward to working with the Treasury to find ways to combat about 0.1% of illegal activity in the cryptocurrency space (much lower than the cash or banking system!) that need to be in line with U.S. law and values."

▌Tether is negotiating reserve audit with four major accounting firms

Tether, the world's largest stablecoin issuer, is in contact with a major four accounting firm to advance its long-term commitment to reserve audit. Tether has issued more than $140 billion worth of USD-pegged cryptocurrencies, and the company claims that each token is backed by USD-denominated assets. It has only released a quarterly report and has not completed a full audit. Tether CEO Paolo Ardoino did not disclose the specific firm or audit schedule that was being negotiated, saying: "This (audit) is our top priority." Tether appointed Simon McWilliams as chief financial officer earlier this month to promote a comprehensive financial audit. At the same time, Tether is also constantly strengthening reserve transparency, purchasing more than US$33.1 billion in 2024, becoming the seventh largest buyer of US Treasury bonds.

▌In 2015, 1 million ETH Ancient Whale transferred 10,000 ETH, which may be sold in the near future

According to ai_9684xtpa monitoring, the "Ancient Whale with 1 million ETH in 2015" transferred 10,000 ETH to a certain address, about 19.69 million US dollars, and may be sold in the near future. The 3,000 ETH transferred to the address a month ago have been sold in batches, making another profit of $6.978 million; its five addresses still hold 215,008 ETH, worth $424 million, and cost as low as $0.31.

Important economic trends

▌Feder Williams: The Fed is not in a hurry to make the next monetary policy decision

Fed Williams said the median forecast for September seemed reasonable. The risks of inflation and employment targets have increased, while long-term inflation expectations remain stable. The Fed is not in a hurry to make the next monetary policy decision. Trump's policy adjustments indicate slowing economic growth and rising unemployment.

▌Central Bank: Take the opportunity to lower the reserve requirement ratio and interest rates

The Monetary Policy Committee of the People's Bank of China held a regular meeting for the first quarter of 2025. The meeting studied the main ideas of monetary policy in the next stage, and suggested increasing the intensity of monetary policy regulation, improving the forward-looking, targeted and effective monetary policy regulation, and reducing the reserve requirement ratio and interest rate at the right time based on the domestic and international economic and financial situation and the operation of the financial market. Maintain abundant liquidity and guide financial institutions to increase monetary and credit supply to match the expected targets of economic growth and total price level. Strengthen the guidance of central bank policy interest rates, improve the market-oriented interest rate formation transmission mechanism, give full play to the role of market interest rate pricing self-discipline mechanism, and strengthen the implementation and supervision of interest rate policies. Promote the decline in the cost of comprehensive social financing. (Jin Shi)

▌Trump calls on the Fed to cut interest rates again

Trump said, "Egg prices have dropped sharply from the prices triggered by Biden a few weeks ago. "Grocery" and gasoline prices have also dropped. Now, it would be great if the Fed can do the right thing and lower interest rates."

▌The probability of the Federal Reserve keeping interest rates unchanged in May is 79.5%

According to CME's "Federal Observation": The probability of the Fed keeping interest rates unchanged in May is 79.5%, and the probability of cutting interest rates by 25 basis points is 20.5%. The probability of the Federal Reserve keeping interest rates unchanged by June is 30.9%, the probability of a cumulative interest rate cut of 25 basis points is 56.6%, and the probability of a cumulative interest rate cut of 50 basis points is 12.6%.

▌Federal Medal: Powell did not make a radical stance on tariff inflation to boost stock market

"Federal Mouthplate" Nick Timiraos wrote that the Fed kept the benchmark interest rate unchanged while assessing how a series of policy changes in the Trump administration in terms of trade, immigration, spending and taxation may reshape the economic outlook. Consumer confidence has slumped sharply in recent weeks amid headlines about federal spending cuts and tariff hikes. "We think it's a good time to wait for the situation to become clearer," Fed Chairman Powell said in a press conference on Wednesday. Powell did not make a more radical stance on potential tariff-related price increases, which has excited investors. The Dow Jones Industrial Average closed up 0.9%, while the S&P 500 and Nasdaq both rose by more than 1%.