Bitcoin at $82,836!

The Fear & Greed Index is at 34 – Fear, indicating continued investor caution as regulatory pressure and security concerns dominate the headlines.

EU plans $1 billion fine against X – Attack on Musk?

The European Union is reportedly considering a $1 billion fine against Elon Musk’s platform X for alleged violations of the Digital Services Act (DSA).

• The fine could include revenue from other Musk-owned companies like Tesla and SpaceX.
• X denies the accusations and calls it an “unprecedented act of political censorship.”
• The EU began investigating X back in 2023, citing lack of transparency and failure to verify user accounts.
• A second investigation is underway, alleging that X has become a hub for hate speech and disinformation.
• Musk responded that he’s looking forward to a “very public court battle” to expose the truth.

Binance delists USDT from EU spot market – MiCA enforcement begins

Binance has delisted USDT (Tether) and other non-MiCA-compliant stablecoins from its spot market in the European Economic Area (EEA).

• Users in the EEA can still hold USDT and trade it via perpetual contracts, but can no longer buy it in spot pairs.
• Other exchanges like Kraken followed suit, also delisting non-compliant tokens such as DAI, TUSD, PYUSD, EURT, and AEUR.
• MiCA regulations will be fully enforced by the end of Q1 2025, already reshaping the stablecoin landscape in Europe.

Q1 2025: Crypto hacks cause $1.63 billion in damages

According to PeckShield, crypto hacks caused over $1.63 billion in losses in Q1 2025 – a 131% increase from the previous year.

• 92% of the damage came from the massive Bybit hack in February.
• Other major attacks included:
• Infini ($50M)
• zkLend ($9.5M)
• Ionic ($8.5M)
• March saw a sharp decline, with only $33 million lost and some funds recovered.
• PeckShield reported over 60 hacks during the quarter, including attacks on Abracadabra.Money ($13M) and Zoth ($8.4M).
• One hacker returned $4.5M to 1inch after being offered a $500K bug bounty.