Zoth Logic Contract Attacked Coinbase Negotiates Acquisition of Deribit

Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance, covering the week's key news, mining information, project dynamics, technological progress and other industry dynamics. This article is the news weekly, taking you to a glance at the major events of the blockchain industry this week.

Headlines

▌SlowMist: Zoth is suspected of being attacked due to administrator privilege leakage

The SlowMist team issued a security alert saying that the Zoth platform is suspected of being attacked due to administrator privilege leakage, and the core logic contract was tampered with and replaced with a malicious contract.

▌Coinbase is in deep negotiations to acquire Deribit

Coinbase is in deep negotiations to acquire the derivatives crypto trading platform Deribit. Some people familiar with the matter said the two sides have informed Dubai regulators of the negotiations because Deribit holds relevant licenses in Dubai. According to data platform Kaiko, Deribit is the world's largest Bitcoin and Ethereum options trading platform, while Coinbase is the largest crypto trading platform in the United States. It is not clear whether Coinbase has reached a final agreement with Deribit. Bloomberg reported in January that Deribit could be valued at between $4 billion and $5 billion. The talks may not result in a deal. The people familiar with the matter requested anonymity because the talks were confidential.

▌Trump's speech at the summit ended hastily in 2 minutes, and no new policies were announced

The total length of US President Trump's "speech" at the 2025 Digital Asset Summit was only about 2 minutes, all of which were "formal remarks" without new content, and it was not as previously reported by reporter Eleanor Terrett that Trump would announce his subsequent encryption policy at the US Digital Asset Summit.

▌Nvidia will build an accelerated quantum computing research center

Nvidia announced on March 18 that it is establishing a research center in Boston to provide cutting-edge technology to promote the development of quantum computing. NVIDIA Accelerated Quantum Research Center (NVAQC) will integrate leading quantum hardware and AI supercomputers to achieve accelerated quantum supercomputing. NVAQC will help solve the most challenging problems in quantum computing, ranging from quantum bit noise to transforming experimental quantum processors into practical devices. Leading innovators in quantum computing, such as Quantinuum, Quantum Machines, and QuEra Computing, will work with NVAQC to advance quantum technology through in-depth collaboration with researchers from top academic institutions such as the Harvard Quantum Initiative (HQI) and the Engineering Quantum Systems Group (EQuS) at the Massachusetts Institute of Technology (MIT).

▌US SEC: PoW mining does not constitute a securities offering

The U.S. Securities and Exchange Commission (SEC) issued a statement on March 20 that cryptocurrency mining activities based on the proof-of-work (PoW) mechanism do not constitute a securities offering and therefore do not need to be registered under the Securities Act. The statement pointed out that whether miners mine independently or through mining pools, the rewards they receive are direct returns for their contribution of computing resources, rather than profits based on the management or operation of others, and therefore do not meet the definition of "investment contracts". The SEC emphasized that this recognition only applies to specific types of mining activities, and other transactions involving crypto assets still require case-by-case analysis.

Policy

▌Trump's Executive Director Says "Best Plan" Will Be Implemented to Buy Bitcoin

In an interview, the Executive Director of US President Trump said that "there are already countless plans" for the country to buy Bitcoin, and said "we will implement the best plan." This statement may imply that the Trump administration will continue to promote the Bitcoin reserve strategy in the future.

▌The U.S. House of Representatives Committee will review the stablecoin bill on April 2

On March 22, according to Bloomberg, the U.S. House of Representatives Financial Services Committee is expected to review a landmark stablecoin legislation on April 2, which is a priority for President Donald Trump and the cryptocurrency industry. People familiar with the matter revealed that the bill is expected to be passed by the committee. This progress marks a significant increase in the influence of the crypto industry in the U.S. Congress, thanks to bipartisan support from key Democrats such as New York Senator Kirsten Gillibrand, and record campaign spending, which helped defeat industry opponents and elect allies.

▌South Korea plans to impose sanctions on unregistered trading platforms such as BitMEX and KuCoin

South Korean financial authorities are planning to impose sanctions on crypto trading platforms such as BitMEX, KuCoin, CoinW, Bitunix and KCEX that are not registered with the Financial Intelligence Unit (FIU) but provide Korean website services. The FIU said that the above-mentioned exchanges did not register as virtual asset service providers (VASPs) in accordance with regulations and were therefore considered to be operating illegally. Relevant officials said that they are negotiating with the Korea Communications Standards Commission to review the plan to block access to these unregistered overseas exchanges, and specific measures are expected to be introduced within the year.

▌Russian Central Bank Governor: We believe that cryptocurrency is a volatile tool

Russian Central Bank Governor Elvira Nabiullina said that we believe that cryptocurrency is a volatile tool. (Jinshi) ▌Australia announces new crypto regulations, promises to combat "de-banking"

The Albanese government in Australia has announced new regulations for cryptocurrency exchanges and stablecoins, and plans to curb the phenomenon of "de-banking". Under the leadership of Prime Minister Anthony Albanese, the Australian government has developed a new regulatory framework for digital assets, aiming to provide greater certainty for industry participants while addressing risks related to consumer protection and market integrity. The reform requires major crypto platforms to obtain Australian financial services licenses, while small businesses and those not involved in financial services will be exempted. The Treasury's Statement on Developing an Innovative Australian Digital Asset Industry, released Thursday, details plans to regulate digital asset platforms and payment stablecoins under existing financial services laws. The Treasury wrote that the move is consistent with similar regulatory approaches in the European Union and Singapore. The statement noted: "By aligning with international best practices, Australia can enhance our global competitiveness in the digital asset sector." It is worth noting that both the European Union and Singapore have taken significant steps to regulate cryptocurrencies. The EU introduced dedicated MiCA (Crypto Asset Market) regulations, while Singapore expanded its existing Payment Services Act to include a licensing and compliance framework for crypto service providers.

Blockchain Applications

▌Walrus Foundation, the entity behind the Walrus protocol, completed $140 million in financing

Walrus Foundation, the entity behind the Walrus protocol, completed $140 million in financing by selling its cryptocurrency $WAL, led by Standard Crypto, and other investments included a16z, Electric Capital and Franklin Templeton Digital Assets. The sale valued the total supply of the Walrus protocol cryptocurrency at $2 billion, and the project will build a decentralized storage network.

▌Aave founder: New community proposal to launch new Aave pledge module

Aave founder Stani.eth posted on the X platform that the community has initiated a proposal to launch a new Aave pledge module to achieve AAVE repurchase and fee conversion.

▌Central Bank: Accelerate the digital and intelligent transformation of finance, and promote the application of artificial intelligence big models in the financial field safely, steadily and orderly

The People's Bank of China held a 2025 science and technology work conference. The meeting required strengthening the integration of industry and technology, deepening data governance, promoting the application of new technologies, and strengthening the information technology support for the central bank's performance of its duties. Promote the construction of an independent, controllable, safe and efficient financial infrastructure system, and maintain network security and data security. Accelerate the digital and intelligent transformation of finance, and promote the application of artificial intelligence big models in the financial field safely, steadily and orderly.

▌World Network and Razer partner to launch single sign-on to address bot issues in games

World Network is working with gaming hardware company Razer to launch a series of features to address bot issues in video games. The joint launch of "Razer ID verified by World ID" is a single sign-on mechanism that can distinguish between real players and bots. The mechanism is built on Razer's existing login service Razer ID and is designed to ensure that "there is a real person behind every Razer ID account." "Game developers now have the tools to build dynamic spaces dominated by real players, not bots," World Network said in a statement. "As AI continues to reshape the gaming world, we want to give gamers and game developers the tools they need to navigate this shift safely and confidently," said Wei-Pin Choo, chief corporate officer at Razer. "By working with World, we ensure real players are at the heart of every experience, keeping games fair, immersive, and designed for humans."

▌Telegram introduces trading and earnings features for its self-hosted crypto wallet

Telegram's self-hosted cryptocurrency wallet, developed by third-party company The Open Platform (TOP), has introduced new features such as multi-asset trading and earnings for users. According to today's update, TOP said users will be able to buy, sell, or hold cryptocurrencies without any on-chain deposits. Later this year, TOP plans to add earnings for USDT holdings and launch a loyalty program that will benefit Toncoin holders. The Telegram wallet has also been revamped, with a new navigation bar at the bottom that makes it easy to switch between the wallet, transaction, and earnings sections.

Cryptocurrency

▌Analysis: The U.S. government is 30% likely to buy Bitcoin in 2025

Matthew Sigel, director of digital asset research at VanEck, posted on the X platform that Bloomberg Legal analysts believe the federal government is 30% likely to buy Bitcoin this year. He believes that Trump will not invest political capital in legislation because he can achieve this goal unilaterally through the Exchange Stability Fund (ESF) if he wants.

▌IMF includes digital assets such as Bitcoin in the global economic reporting framework for the first time

The International Monetary Fund (IMF) released the seventh edition of the Balance of Payments Manual (BPM7) on March 20, which included digital assets such as cryptocurrencies in the global economic reporting framework for the first time. This is the first update of the manual since 2009. According to the new framework, digital assets are divided into fungible tokens and non-fungible tokens, and are further classified according to whether they bear related liabilities: -Unbacked assets such as Bitcoin are classified as non-productive non-financial assets and classified as capital accounts; -Liability-backed digital currencies such as stablecoins are regarded as financial instruments; -Platform tokens such as ETH and SOL may be classified as equity-like instruments if held across borders; -Pledge and cryptocurrency income activities are regarded as sources of dividend income; -Mining and staking-related services are recognized as exportable computer services. (CrowFund Insider) The IMF plans to promote widespread adoption of BPM7 and the latest national accounts system by 2029-2030.

▌Coinbase CEO: Support privacy protection and look forward to working with the Treasury Department to combat illegal activities

Coinbase CEO Brian Armstrong recently expressed his views on social media regarding the U.S. Treasury Department's lifting of sanctions on Tornado Cash: "No one wants to see criminals use cryptocurrency. But privacy is an important feature for many law-abiding citizens, and you can't sanction open source code (this is a free speech issue). I'm glad to see this problem resolved." He added: "We look forward to working with the Treasury Department to find ways to combat about 0.1% of illegal activities in the cryptocurrency field (much lower than cash or the banking system!), and these methods need to be consistent with U.S. laws and values."

▌Tether is negotiating reserve audits with the Big Four accounting firms

Tether, the world's largest stablecoin issuer is in talks with a Big Four accounting firm to advance its long-promised reserve audit. Tether has issued more than $140 billion worth of U.S. dollar-pegged cryptocurrencies, and the company claims that each token is backed by U.S. dollar-denominated assets. It currently only publishes quarterly reports and has not yet completed a full audit. Tether CEO Paolo Ardoino did not disclose the specific firm being negotiated or the audit schedule. He said: "This (audit) is our top priority." Tether appointed Simon McWilliams as chief financial officer earlier this month to promote a comprehensive financial audit. At the same time, Tether is also constantly strengthening the transparency of its reserves, purchasing more than $33.1 billion in U.S. Treasuries in 2024, becoming the seventh largest buyer of U.S. Treasuries.

▌Ancient whale with 1 million ETH in ICO in 2015 transferred 10,000 ETH and may sell it in the near future

According to ai_9684xtpa monitoring, "ancient whale with 1 million ETH in ICO in 2015" transferred 10,000 ETH to a certain address, about 19.69 million US dollars, and may sell it in the near future. The 3,000 ETH transferred to the address by the whale a month ago has been sold in batches, making another profit of 6.978 million US dollars; currently, its five addresses still hold 215,008 ETH, worth 424 million US dollars, with a cost as low as 0.31 US dollars.

Important Economic Dynamics

▌Fed Williams: Fed is not in a hurry to make the next monetary policy decision

Fed Williams said that the median forecast for September seems reasonable. Risks to both inflation and employment targets have increased, and long-term inflation expectations remain stable. The Fed is not in a hurry to make the next monetary policy decision. Trump's policy adjustments indicate that economic growth is slowing and unemployment will rise.

▌Central Bank: Choose the right time to reduce the reserve requirement ratio and interest rates

The Monetary Policy Committee of the People's Bank of China held its first quarter regular meeting in 2025. The meeting studied the main ideas of monetary policy in the next stage, and suggested increasing the intensity of monetary policy regulation, improving the forward-looking, targeted and effective nature of monetary policy regulation, and choosing the right time to reduce the reserve requirement ratio and interest rates according to the domestic and international economic and financial situation and the operation of financial markets. Maintain ample liquidity, guide financial institutions to increase monetary and credit supply, and match the growth of social financing scale and money supply with the expected targets of economic growth and overall price level. Strengthen the guidance of the central bank's policy interest rate, improve the market-oriented interest rate formation transmission mechanism, give play to the role of the market interest rate pricing self-discipline mechanism, and strengthen the implementation and supervision of interest rate policies. Promote the reduction of social comprehensive financing costs. (Jinshi)

▌ Trump again called on the Fed to cut interest rates

Trump wrote, "Egg prices have fallen sharply from the prices Biden triggered a few weeks ago. "Grocery" and gasoline prices have also fallen. Now, it would be great if the Fed could do the right thing and lower interest rates."

▌The probability of the Fed keeping interest rates unchanged in May is 79.5%

According to CME's "Federal Reserve Watch": The probability of the Federal Reserve keeping interest rates unchanged in May is 79.5%, and the probability of a 25 basis point rate cut is 20.5%. The probability that the Fed will keep interest rates unchanged by June is 30.9%, the probability of a cumulative 25 basis point rate cut is 56.6%, and the probability of a cumulative 50 basis point rate cut is 12.6%.

▌Fed Mouthpiece: Powell did not take a radical stance on tariff inflation to boost the stock market

"Fed Mouthpiece" Nick Timiraos wrote that the Fed kept the benchmark interest rate unchanged while assessing how a series of policy changes by the Trump administration on trade, immigration, spending and taxation might reshape the economic outlook. In recent weeks, consumer confidence has fallen sharply amid headlines about federal government spending cuts and tariff increases. "We think it's a good time to wait for the situation to become clearer," Fed Chairman Powell said at a press conference on Wednesday. Investors were encouraged by Powell's failure to take a more aggressive stance on potential tariff-related price increases. The Dow closed up 0.9%, while the S&P 500 and Nasdaq both rose more than 1%.