Saylor’s BTC Buy, Xapo Loans, Cosmos EVM, Bithumb Raid

March 24, 2025

Crypto World

Maciej Zerelik

Stay updated with StealthEX and CryptoDaily! Each week, we pick the biggest crypto news and break it down for you. Want to know what’s trending in crypto? Our quick and easy summary covers the key stories everyone is talking about. You’ll always know what matters most in the crypto world. Ready to jump into this week’s highlights? Let’s dive in!

Saylor’s Firm Buys Smallest Bitcoin Batch Yet

Michael Saylor’s company, Strategy, purchased 130 Bitcoins worth nearly $11 million. This marks their smallest buy since starting to acquire Bitcoin in 2020. Strategy bought these Bitcoins at around $83,000 each between March 10 and March 16. The purchase was funded by selling preferred shares, which generated the exact $10.7 million needed.

This purchase is part of a huge fundraising plan announced earlier this month. Strategy wants to raise billions by issuing stocks and bonds to continue growing its Bitcoin stash. So far, Strategy now owns around 499,226 Bitcoins. Their average buying price per coin is about $66,360.

Michael Saylor recently stated he believes this moment is ideal for entering the Bitcoin market. According to him, risk levels for Bitcoin are lower than ever before. He expects widespread acceptance from banks, Wall Street, and even governments in the US soon.

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Xapo Bank Revives Crypto Loans for Bitcoin Holders

Crypto-backed lending is returning as Gibraltar’s Xapo Bank launches new loan products for Bitcoin owners. The bank now provides loans up to £1 million in US dollars. These loans target Bitcoin investors who need cash without selling their coins. Many investors store Bitcoin in secure wallets and don’t actively trade or spend it.

Unlike previous crypto loans, Xapo Bank keeps the Bitcoin collateral safely stored without reusing it elsewhere. Collateral stays secure in a specialized vault that uses advanced multiparty computation methods for maximum security.

Loan terms are flexible. Customers can choose repayment periods of 30, 90, 180, or even 365 days. Additionally, borrowers won’t face any penalties if they repay early.

Loan approval primarily depends on how much Bitcoin customers have and the length of time they’ve held it. Xapo prefers long-term Bitcoin holders. Currently, these loans are open globally but exclude US residents.

Crypto lending previously faced major setbacks after the 2022 market downturn caused lenders like Celsius and BlockFi to fail. Now, Xapo Bank aims to restore confidence by offering safe lending practices, eliminating risky asset reuse, and preventing unwanted liquidations. This cautious approach could attract investors back to crypto lending once again.

Cosmos Ecosystem Boosts Ethereum Compatibility

Cosmos is expanding Ethereum compatibility through a new open-source project called Cosmos EVM. Funded by the Interchain Foundation, Cosmos EVM allows chains built on Cosmos SDK to support Ethereum-compatible applications. Tharsis Labs, the original developer, has made Cosmos EVM freely accessible for integration into all Cosmos networks.

Cosmos EVM makes it easy for developers to run Ethereum-style smart contracts without installing Ethereum’s entire software stack. It ensures compatibility with Ethereum wallets, ERC-20 tokens, and common Ethereum development tools. The move aims to improve liquidity and interoperability between Cosmos chains and Ethereum-based projects.

Barry Plunkett, co-CEO of Interchain Labs, explained the integration makes Ethereum usage straightforward within the Cosmos environment. The open-source model encourages developers to build freely, speeding up DeFi app growth and adoption.

Federico Kunze Küllmer, co-founder of Evmos, will step back from daily development but remain an advisor. His firm Altiplanic will also cease active involvement. Despite leadership changes, the Interchain Foundation says the Cosmos EVM roadmap stays intact. This step could significantly increase Cosmos’ presence across decentralized finance and help more networks adopt Ethereum technology.

Prosecutors Raid Bithumb Over Misused Funds Claims

South Korean officials have raided the offices of crypto exchange Bithumb over claims of financial wrongdoing by a former executive. Prosecutors suspect Kim Dae-sik, Bithumb’s former CEO, improperly used company money for personal real estate. Authorities visited the firm’s main office in Seoul on March 19.

Kim allegedly took about $2 million from Bithumb to cover his apartment lease deposit in Seoul’s popular Seongsu-dong neighborhood. Bithumb publicly admitted partial wrongdoing. The company said Kim borrowed company funds but later repaid the entire amount after regulators began investigating.

The Financial Supervisory Service initially looked into the matter and later handed the case over to prosecutors. Despite Kim’s repayment, prosecutors continue checking whether the original transfer violated financial laws or corporate rules.

This raid adds uncertainty to Bithumb’s ambitions to hold a stock market launch. The firm hopes to list publicly on Nasdaq but repeated regulatory investigations could complicate its plans. Once South Korea’s largest crypto exchange, Bithumb faces ongoing scrutiny related to its internal management practices, creating another hurdle on its path to going public.

Solana ETFs Make Historic Debut on US Market

Volatility Shares has just introduced America’s first-ever Solana futures ETFs, opening a fresh door for traditional investors. These new ETFs enable people to invest in Solana without directly owning crypto. Two ETFs hit Nasdaq: SOLZ, which tracks Solana futures, and SOLT, offering investors double the exposure.

CEO Justin Young sees the launch timing as perfect, emphasizing growing US enthusiasm for cryptocurrency under President Trump’s administration. Volatility Shares secured approval from the SEC relatively quickly, signaling optimism about crypto’s future in the US financial market. Analysts point out that while the Solana ETFs represent a breakthrough, investor demand might still lean toward spot ETFs that directly hold the cryptocurrency.

On launch day, Solana ETFs saw futures trading volume of around $12 million—far less than Bitcoin or Ethereum ETFs—but strong relative to Solana’s market size. Experts believe these futures-based funds could lead to approval of spot Solana ETFs, mirroring the path taken by Bitcoin and Ethereum. The introduction marks a crucial milestone, bringing altcoin investments closer to mainstream US investors.

VanEck Registers Avalanche ETF Amid Crypto ETF Boom

Asset management firm VanEck has registered a new trust company in Delaware, preparing the way for a potential Avalanche (AVAX) ETF. This latest move follows VanEck’s earlier filings for Bitcoin, Ethereum, and Solana ETFs, further expanding its crypto-focused portfolio.

The registration, filed on March 10, does not guarantee immediate ETF approval, but signals VanEck’s strategic interest in Avalanche. The filing arrives amid increased optimism for crypto ETFs under a more crypto-friendly SEC leadership following President Trump’s return to office.

With former SEC chairman Gary Gensler’s departure, ETF filings for cryptocurrencies like Solana, Ripple, and even smaller tokens have surged significantly. Analysts suggest VanEck’s recent filing highlights broader institutional confidence in crypto’s future. However, investors might still need patience—VanEck’s previous Solana ETF filing in 2021 demonstrates that regulatory processes can take time. Nevertheless, VanEck’s Avalanche ETF preparation highlights continuing institutional interest despite recent market volatility, pointing toward brighter days for crypto ETF investors in the US.

Microsoft Detects New Malware Targeting Crypto Wallets

Microsoft cybersecurity teams have identified a sophisticated new malware called StilachiRAT, designed specifically to steal cryptocurrency and sensitive user information. Detected first in November 2024, this stealthy Trojan actively scans Chrome browsers for popular crypto wallet extensions like MetaMask and Coinbase wallet.

The malware hides as a DLL module, quietly avoiding detection by deleting system logs and carefully checking environments for analysis tools. It records clipboard data, capturing wallet keys and passwords, then sends stolen information to a remote server. StilachiRAT also collects detailed system data, including operating system info, BIOS serial numbers, and active remote desktop sessions.

Microsoft warns that the malware can manipulate infected systems, restart computers, terminate applications, or modify critical registry settings. Although currently limited in distribution, its advanced features have prompted Microsoft to alert users publicly. Crypto users and enterprises are urged to enhance security to avoid potentially severe losses from this evolving threat.

US Ends Sanctions on Crypto Mixer Tornado Cash

The United States has removed Tornado Cash from its sanctions list, ending its ban on the crypto mixing service. The decision announced March 21, 2025, reverses a controversial move that previously targeted Tornado Cash for allegedly facilitating money laundering linked to North Korean hackers.

Treasury Secretary Scott Bessent emphasized a balanced approach, highlighting the need to protect innovation while still fighting financial crimes. This comes after a federal appeals court ruled last year that Tornado Cash’s smart contracts couldn’t legally be sanctioned.

Alongside lifting sanctions, over 100 Ethereum addresses previously blacklisted by the US government were also cleared. However, Tornado Cash co-founder Roman Storm remains set for trial over his alleged involvement in designing the mixer’s technology. Storm’s lawyers hope the sanctions removal might lead prosecutors to drop his charges, but a federal judge previously ruled that Storm’s charges stand regardless of Tornado Cash’s sanction status. Despite legal complexities, the move signals the US government’s shifting stance toward crypto privacy tools.

Pakistan Moves to Legalize Crypto for Foreign Investors

Pakistan is preparing to introduce laws legalizing cryptocurrency specifically to attract foreign investment. This represents a major turnaround from the country’s previous anti-crypto stance, aiming to become South Asia’s leading blockchain-friendly market.

Bilal Bin Saqib, advisor to Pakistan’s Finance Ministry, confirmed plans to establish clear regulations that attract global investors, especially targeting the younger workforce already familiar with Web3 technologies. The government believes this approach can boost Pakistan’s economic growth by bringing international capital into the digital asset space.

Recent high-level talks between Pakistan’s Finance Minister and US officials have accelerated this shift, discussing even a Bitcoin strategic reserve. Official support from the State Bank and Ministry of IT has laid a strong foundation, providing transparency and clear rules for crypto exchanges and fintech startups.

With these plans, Pakistan would be South Asia’s first nation officially embracing crypto investment, surpassing neighboring countries like India, where crypto regulation remains uncertain. Already ranked ninth globally in crypto adoption, Pakistan hopes clear regulation will rapidly boost its blockchain sector, drawing comparisons to Singapore and Dubai.

This article is not supposed to provide financial advice. Digital assets are risky. Be sure to do your own research and consult your financial advisor before investing.