Updates on Terra Portal, Trump’s Clemency, and Polymarket

In this week’s recap, we take a look at the launch of Terra’s investor claims portal, President Trump’s recent crypto-related pardons, and governance challenges facing Polymarket.

Terra launches investor claims portal

• On March 31, Terraform Labs will introduce an online system for investors to submit claims related to losses incurred from the Luna (LUNA) token and TerraUSD stablecoin collapse.
• Claims must be submitted by April 30 at 11:59 p.m. ET via claims.terra.money; late submissions will result in the loss of recovery rights.

Trump pardons BitMEX co-founders

• Former President Donald Trump has granted pardons to three co-founders of the cryptocurrency exchange BitMEX: ex-CEO Arthur Hayes, Benjamin Delo, and Samuel Reed.
• These executives had previously pleaded guilty to violating the Bank Secrecy Act due to inadequate anti-money laundering and know-your-customer protocols.

SEC concludes Crypto.com investigation

• Crypto.com announced on Thursday that the Securities and Exchange Commission has concluded its investigation into the platform.
• This marks a significant resolution for several crypto firms under SEC scrutiny, including Immutable, Crypto.com, Ripple, Coinbase, and “Hawk Tuah Girl.”

Hyperliquid diversifies into spot trading

• The decentralized exchange has introduced direct deposits and withdrawals for spot trading as per Thursday’s announcement.
• Additionally, Hyperliquid recently faced a whale manipulation incident where a user shorted the Solana (SOL) meme coin JELLY while a whale simultaneously offloaded the token on DEXs.

USDT0 stablecoin expands to Optimism

• Tether’s USDT0 stablecoin is expanding within Optimism’s Superchain following its successful launch on Kraken’s Ink layer 2 network.
• The announcement on Thursday confirmed that USDT0 is now operational on OP Mainnet, with more launches to follow shortly.

Sam Bankman-Fried transferred

• As reported on Thursday by the Federal Bureau of Prisons, former FTX CEO Sam Bankman-Fried has been relocated to the Oklahoma City Federal Transfer Center.

Wyoming plans state-backed stable token

• At the Digital Chamber DC Blockchain Summit on Wednesday, Governor Mark Gordon announced the state’s intention to create its own “stable token.”
• The Republican governor highlighted Wyoming’s favorable environment for development and responsive government, stating, “we can turn on a dime, we can make things happen.”

Polymarket acknowledges governance attack

• The crypto prediction market platform has confirmed awareness of an alleged attack on one of its betting markets, which may involve manipulation of its UMA oracle provider.
• A significant bet of $7 million titled “Ukraine agrees to Trump mineral deal before April?” saw its probability suddenly shift from 9% to 100% between March 24-25, raising suspicions of coordinated market manipulation.

SEC wraps up Immutable investigation

• The SEC has officially closed its investigation into Australian crypto entity Immutable, which had previously received a Wells notice in October.
• This investigation involved Immutable, the IMX Ecosystem Foundation, and the company’s CEO, with the Wells notice suggesting potential legal actions.

Fidelity proposes Solana ETF

• The $5 trillion asset management giant filed with the SEC on Tuesday to establish an exchange-traded fund that tracks Solana prices.
• Cboe Exchange followed with a 19b-4 filing to list the proposed Solana ETF, after Fidelity registered a Solana Fund in Delaware the prior Thursday.

Dogecoin Foundation acquires $1.8 million in DOGE

• The Foundation’s corporate branch, House of Doge, has purchased over 10 million Dogecoin as part of a comprehensive reserve strategy.
• Formed in February with a five-year operating agreement, House of Doge aims to reposition DOGE as a practical payment method beyond its origin as a memecoin.

Strategy surpasses 500,000 Bitcoin mark

• Michael Saylor’s company has acquired an additional 6,911 Bitcoin (BTC) at a total cost of $584.1 million, averaging $84,529 per token.
• This latest acquisition raises the firm’s total Bitcoin holdings to 506,137 BTC, purchased for $33.7 billion at an average of $66,608 each.