The crypto market continued its volatility throughout the week amid signs of consolidation as the bears held their ground tight. Despite the mid-week rebounds, the ongoing macroeconomic pressures continued to the broad fluctuations. Additionally, there were major developments, such as Ripple ending its lawsuit with the SEC, OKX getting sued by the Thai SEC, and Circle partnering with NYSE’s ICE. So, let us look at the crypto weekly market wrap in detail.
Ripple Reaches Final Settlement with SEC
Ripple saw its legal battle with the SEC come to its conclusion by agreeing to pay the regulator a $50m fine from the initial offer to pay $125m. The settlement also removes the injunction previously imposed on Ripple.
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By so doing, Ripple is now in a position to continue selling on-demand liquidity services. The agreement enables the SEC to hold $50 million from the escrow and have Ripple reclaim the rest of the $75 million. Ripple has also withdrawn its cross-appeal, thus ending the long-standing battle.
The initial basis of the lawsuit was that XRP was classified as an unregistered security. This resolution paves the way for XRP-based ETFs. The closure of such a case marks a new trend in the way the SEC operates, as several firms have also experienced similar dismissals.
World Network Explores Visa-Enabled Stablecoin Payments
Sam Altman’s World Network is currently negotiating with Visa to enable payment with stablecoins through World Wallet. It seeks to provide an opportunity for users to trade in stablecoins in the network of Visa merchants in the world.
The World Wallet is designed to perform more than just storage for digital assets. The wallet can contain FX tools, fiat on/off ramps, and crypto transfers, making it a functional payment method.
Their partnership with Rain and Coinbase adds to its usefulness and utilization. The wallet is designed to facilitate cross-border transactions, stablecoins and traditional currencies. This reflects the growing integration between decentralized finance and mainstream payment infrastructure.
SEC Ends Crypto.com Probe Without Charges
The SEC, without laying any charges, closed the investigation into Crypto.com. CEO Kris Marszalek revealed that the shutdown occurred after the project had been under regulatory attention for seven months. During the process, the platform also encountered a number of operational limitations.
They used every tool available to attempt to stifle us, restricting access to banking, auditors, investors, and beyond. It was a calculated attempt to put an end to the industry.
— Kris | Crypto.com (@kris) March 27, 2025
Marszalek gave credit to the community and internal compliance teams for sustaining operations under pressure. During the probe, Chief Legal Officer Nick Lundgren accused the previous SEC administration of overreach in legal authority.
The regulation of the case enables Crypto.com to proceed uninterrupted without worries of legal conflicts. Lately, the SEC seems to appear much more restrained, especially after the arrival of the new acting chief, Mark Uyeda. Other related inquiries have also reached the same decision in the last few months without any sanctions.
Strategy Surpasses 500,000 Bitcoin in Holdings
Strategy acquired 6,911 Bitcoins worth $584 million between March 17 and March 23 and has a total of 506,137 Bitcoins, 2.4% of the total supply. The purchase was financed out of the proceeds of the company’s sale of Strife A Preferred Stock. It attracted funds of over $711m, thus exceeding the set $500m fundraising target. This offering had a coupon of 10% with an $85 share price.
Michael Saylor, the co-founder of the firm, insists on the importance of Bitcoin as a core asset in the treasury. Currently, Strategy has emerged as the largest institutional holder of Bitcoin across the world.
GameStop Embraces Bitcoin in Treasury Strategy
GameStop recently said that it will be including Bitcoin and stablecoins in its corporate treasuries. Though the specific sum and period have not been revealed, the provision is a new paradigm in the company’s financial strategy. This move has followed other public firms that invested in Bitcoin as a reserve currency.
The society and stakeholders in the industry have, however, welcomed the decision. BitGo’s CEO suggested locking the funds across various periods in an effort to get a return. Jim Cramer also applauded the move linking it to his previous directions that he channeled during the GameStop stock rally.
BlackRock Launches European Bitcoin ETP With Fee Waiver
A Bitcoin ETP was launched by BlackRock in Europe that comes under the trading symbol IB1T on Xetra and Euronext. This builds on the success of its U.S.-based iShares Bitcoin Trust, which has attracted both institutional and retail investors.
JUST IN: $11.5 trillion Blackrock is launching a #Bitcoin ETP in Europe 🇪🇺 pic.twitter.com/dZ8z3N3tGv
— Bitcoin Magazine (@BitcoinMagazine) March 25, 2025
The ETP provides a discount of 0.10% on its fees until the end of the year. After the waiver, fees increase to 0.25%, matching CoinShare’s charge for its products. This strategy is to attract investors with low entry fees and the prospect of the target audience being more easily reached.
Although crypto ETPs have a smaller market base in Europe than in the U.S., BlackRock’s move may signal a change in the trend. As institutional interest increases, regulated ETPs present a straightforward way to access Bitcoin without the custody risks.
SEC Clears Immutable of Token Sale Violations
The SEC closed the case involving Immutable and did not bring enforcement against the company. In November, the firm received a Wells notice regarding the IMX token listings and private sales that were conducted by the company. The SEC failed to note any of these irregularities, hence giving Immutable the green light to proceed with its Web3 gaming plans. This decision relieves the platform, which operates Immutable X. The platform offers an infrastructure for gaming NFTs and digital ownership.
President Robbie Ferguson expressed his positive attitude toward the outcome. He urged that the industry needs more regulatory guidance for the blockchain firms. The ruling reflects a larger shift at the SEC toward transparency and reduced enforcement-driven regulation.
Wyoming to Launch State-Backed Stablecoin in July
The state of Wyoming revealed it will issue its own stablecoin known as WYST, which will be pegged 1:1 by the US Dollar. The token will be backed by cash reserves, U.S Treasury assets and repurchase agreements. The minimum capital reserve will be set at 102%. This interest from reserves shall be used to finance public utilities such as the development of infrastructure and education.
We’re honored to be chosen by Wyoming as the token issuance partner for WYST, the first fiat-backed and fully-reserved stablecoin issued by a public entity in the United States.
There’s no clearer signal of where finance is heading than a U.S. state putting the dollar onchain. pic.twitter.com/IkinTrmKYG
— LayerZero (@LayerZero_Core) March 26, 2025
Governor Mark Gordon thanked the state’s regulatory framework for allowing the feat to happen. WYST is set to be deployed on up to 9 blockchain platforms, including Ethereum, Solana, and Polygon. The stablecoin will also be able to accommodate digital payment systems and enhance public sector finance. Wyoming plans on becoming uniquely innovative at the state level regarding digital assets.
Trader Exploit on JELLY Triggers $13.5M Hyperliquid Vault Loss
One trader was able to manipulate low-liquidity token JELLY, plunging the value of Hyperliquid’s vault by $13.5 million. The trader employed three accounts, deposited $7 million, and initiated two long positions and one short. Removing the margin from the short triggered liquidation into the Hyperliquid Vault.
The trader then aggressively pumped JELLY’s price, forcing a sharp spike due to low volume. This price action impacted the AMM-based vault, which in turn caused greater losses. In response, Hyperliquid closed the JELLY pool at $0.095. The exploit is similar to other recent incidents to ETH and LINK, raising questions about DEX mechanics.
DOJ Seizes Crypto Linked to Hamas Fundraising Operations
The US Justice Department seized more than $200000 in cryptocurrency linked to Hamas fundraising. Law enforcement identified the funds received through wallets and exchange accounts for laundering and online promotion.
The FBI claimed that since October 2024, supporters of the Hamas organization had transferred more than $1.5 million in cryptocurrencies. Authorities recovered about $90,000 from the wallets and $112,000 from three exchange accounts. Individuals in Turkey and other countries owned these accounts. The DOJ focused on seizing assets related in any way to Hamas, which is a terrorist group, according to the U.S. and the EU.
Trump Pardons BitMEX Founders Over Bank Secrecy Act Violations
The three founders of BitMEX and one ex-executive were pardoned by the US president, Donald Trump. Arthur Hayes, Benjamin Delo, Samuel Reed and Gregory Dwyer were found guilty of Bank Secrecy Act violations.
They also did not comply with the anti-money laundering regulations for users from the US. The U.S. prosecutors accused BitMEX of serving as a money laundering service while avoiding compliance with the laws of the U.S. The four had been given probation and also paid fines totaling more than $30 million.
The CFTC penalized the exchange $100 million. Trump issued the pardons amid an ongoing debate over regulatory actions in the context of cryptocurrencies. BitMEX established itself in 2014 and primarily served global crypto derivatives traders.
ICE Explores Integration of Circle’s USDC and USYC in Financial Infrastructure
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), is considering the inclusion of Circle’s stablecoins into the market. They include the USD Coin (USDC) and US Yield Coin (USYC), which are pegged to regulated financial assets.
ICE intends to review their employing in the exchanges, clearing systems, and data services. USDC is anchored on assets in an SEC-registered money market fund. USYC has a yield of 3.8% and is secured by U.S. Treasury securities and repurchase agreements. NYSE President Lynn Martin also noted the advantage of regulated digital currencies with regard to the efficiency of institutional finance. The move highlights how traditional finance is interested in using stablecoins.
Thai SEC Files Lawsuit Against OKX
The Thai Securities and Exchange Commission filed legal action against OKX for offering its services within the Thai market without the necessary licenses. The action is filed against Aux Cayes FinTech Co. Ltd., which operates OKX, and nine individuals connected to the company.
Thailand's SEC has filed a criminal complaint against OKX operator Aux Cayes FinTech and nine individuals for offering crypto trading services without a license, violating the 2018 Digital Asset Business Decree. OKX reportedly served Thai users since 2021 via its website and…
— Wu Blockchain (@WuBlockchain) March 29, 2025
Authorities claim that OKX offered its services to consumers from Thailand through its unauthorized website. The platform set transaction fees at 0.1% while it advertised on various social media platforms. The SEC claims OKX violated the Emergency Decree on Digital Asset Businesses (2018). The Economic Crime Suppression Division received the case. The regulators also claimed that the individuals assisted in promoting and increasing the reach of OKX on Thai social media platforms.
Crypto Market Overview
In the last week, investment products of digital assets have attracted inflows of US$ 226 million, as stated in the CoinShares report. This implies a form of recovery among investors following the volatile period that has characterized the market recently. This was the ninth consecutive day of inflows, although they were interrupted by Friday, when outflow was recorded at US$74 million. That outflow occurred after the U.S. core personal consumption expenditure figure came in above forecasts.
Bitcoin continued to dominate with an inflow of US$195 million. On the other hand, short-bitcoin products recorded a negative figure for the fourth consecutive week, clocking at $2.5 million. The drop in prices has seen Bitcoin ETP assets under-management drop to $114 billion, levels last seen during the last US elections.
Bitcoin investors add US$195m, altcoins see inflows for first time in 5 weekshttps://t.co/Ns4f9XMmdQ pic.twitter.com/r3rORnPBrG
— James Butterfill (@jbutterfill) March 31, 2025
The weekly update noted that for the first time in five weeks, the altcoins category saw positive inflows of $33 million. Ethereum secured the highest amount of inflows with $14.5 million, while Solana received $ 7.8 million. XRP and Sui also returned to the spotlight and attracted investors with $4.8 million and $4 million, respectively. This shift comes after four straight weeks of altcoin outflows amounting to US$1.7 billion.
Regionally, the U.S. led inflows with $204 million, showing renewed investor confidence. Switzerland and Germany followed, recording $14.7 million and $9.2 million, respectively. Hong Kong and Brazil experienced minor outflows, with losses of US$2.1 million and US$1.3 million, respectively. Overall, data suggests rising interest in digital assets despite macroeconomic pressures.
Bitcoin Price Performance
The leading asset, Bitcoin, closed the week below the $38K mark, continuing the six-week downtrend. Bitcoin’s price dropped from $88K to $81K following the broad market fluctuations, leading to a weekly decline of 6%. After consolidating $83K during the weekend, the price is facing a rejection around $84K. Its market cap and trading volume stand at $1.65 trillion and $28 billion, respectively.
Technical indicators display a slight bullish recovery as the selling pressure eases. The RSI is recovering from the oversold region at 44 index while the MACD remains neutral. Should the current hold, BTC could push for the $88k resistance.
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