Weekend wrap: Trump pumps, Tornado Cash on MegaETH, solo miner wins $266K and more

1 month ago

TRUMP token rallies aft President Trump says it’s “SO COOL”

The Official Trump (TRUMP) memecoin linked to US President Donald Trump soared implicit 12% to $12.25 successful 40 minutes connected March 23, aft the president called it “The top of them all” connected societal media.

“I LOVE $TRUMP — SO COOL!!! The Greatest of them all!!!!!!!!!!!!!!!!” Trump said connected Truth Social connected March 23 astatine 2:33 americium UTC.

Nearly $250 cardinal was added to the TRUMP token’s $2.5 cardinal marketplace headdress by 3:11 americium earlier the memecoin fell backmost down to $11.38 astir 90 minutes later, CoinGecko information shows and is present trading astatine $11.82.

Despite being the 53rd largest coin by marketplace cap, Trump’s station contributed to it being the eighth most-traded token implicit the past 24 hours with $1.4 cardinal successful trading volume.

Not everyone who bought TRUMP walked distant a victor connected March 23.

One whale who antecedently banked astir $108 cardinal connected TRUMP mislaid $207,000 from a caller trade; blockchain analytics steadfast Lookonchain pointed out.

The TRUMP token has traded mostly downward and sideways ever since it reached a highest marketplace headdress of $14.6 cardinal connected Jan. 19.

Tornado Cash goes unrecorded connected MegaETH testnet

A mostly chartless crypto developer who goes by the sanction “GUNBOATs” connected X has launched crypto privateness mixer Tornado Cash connected MegaETH testnet — a caller Ethereum furniture 2 blockchain looking to resoluteness Ethereum’s scalability issues.

The crypto developer showed a command-line interface (terminal window) of the Tornado Cash astute declaration “0x0cB…65142” deployed connected the MegaETH testnet astatine artifact 1,397,845 — which was timestamped connected March 21 astatine 5:41 p.m. UTC, according to the MegaETH explorer.

The integration occurred soon aft the US Treasury Department removed Tornado Cash from its sanctions database connected March 21 and 2 months aft a US appeals court said the Treasury’s Office of Foreign Assets Control couldn’t authorisation Tornado Cash astute contracts due to the fact that they are not the spot of a overseas national.

MegaETH besides launched its testnet connected the aforesaid time the Tornado Cash authorisation was lifted.

While it isn’t wide if and erstwhile a afloat motorboat volition occur, the institution down the MegaETH nationalist testnet claims it offers “unparalleled performance” with 10 millisecond artifact times portion processing astir 20,000 transactions per second.

Solo Bitcoin miner wins BTC block, banking $266K

A solo Bitcoin miner believed to person been utilizing a miner with little than 1 terahash per 2nd (TS/s) has solved 1 of the blockchain’s blocks and earned a $266,552 reward.

“Another solo miner recovered a block!! This clip connected a aforesaid hosted Public Pool. We can’t beryllium definite but the conjecture is it was a miner with little than 1 TH/s,” Nerdminer Store said successful a March 23 X post.

The Bitcoin miner snared a full of 3.15 BTC for solving artifact 888,989, which was timestamped on March 23 astatine 1:30 americium UTC, mempool.space data shows.

That bounty included the existent 3.125 Bitcoin subsidy and different 0.027 Bitcoin ($2,254) from transaction fees.

If Nerdminer is close successful believing a miner with little than 1 TH/s was utilized to excavation the block, the instrumentality apt would person been a manus oregon pocket-sized rig that possesses a fraction of the hashrate that industrial-scale application-specific integrated circuits (ASIC) have.

For context, the Bitcoin mining marketplace estimates that the likelihood of the 1.2TH/s rig mining a solo artifact connected immoderate time is 1 successful 4.6 cardinal chance.

It comes aft a 0.48 TH/s mining machine solved Bitcoin artifact 887,212 connected March 10, banking $263,000 successful full rewards.

No, the IMF did not accidental Bitcoin is “digital gold”

Bitcoin was mentioned respective times successful the International Monetary Fund’s seventh variation of its “Integrated Balance of Payments and International Investment Position Manual,” which was published connected March 20 — but nary of which referred to it arsenic “digital gold,” contrary to immoderate reports.

The IMF provided classifications connected “crypto assets” specified arsenic Bitcoin arsenic a “medium of exchange” portion stating that galore caller integer assets are designed to besides enactment arsenic a “store of value.”

“This is simply a monolithic agelong to leap to: ‘IMF says bitcoin is integer gold,’” Satoshi Action Fund CEO Dennis Porter said successful a March 23 X post.

“[It’s] a bully motion that the IMF is recognizing this but decidedly not an endorsement of Bitcoin arsenic ‘digital gold.’”

The IMF besides distinguished fungible tokens from non-fungible tokens and classified the second arsenic either a token designed to enactment arsenic a mean of speech oregon arsenic a security.

Bitcoin and “crypto assets” were among 9 “major changes” to the seventh edition, which comprised 1,076 pages.

The IMF’s seventh variation was released arsenic it continues to negociate with El Salvador implicit narrowing the scope of the country’s Bitcoin activities.

Other news:

Stablecoin issuer Tether is reportedly engaging with a Big Four accounting firm to audit its assets reserve and verify that its Tether (USDT) stablecoin is backed astatine a 1:1 ratio. The auditing of Tether’s $143.5 cardinal worthy of assets is expected to beryllium much straightforward nether US President Donald Trump, Tether’s CEO Paolo Ardoino reportedly said.

The CEO of Pakistan’s Crypto Council, Bilal Bin Saqib, has projected utilizing the country’s runoff vigor to substance Bitcoin mining astatine the Crypto Council’s inaugural gathering connected March 21. It is reportedly exploring comprehensive regulatory frameworks to pull much overseas crypto concern into the state and perchance go a crypto hub.

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