This Week in Review | Binance Initiates Listing and Delisting Voting; Identity of '50x Leverage' Whale Revealed

BlockBeats will compile the key industry news of the week (3.17-3.23) in this article, and recommend in-depth articles to help readers better understand the market and learn about industry trends.

Key News Review

Binance Launches "Coin Voting," 9 Memes Listed, Wallet Introduces 6-Month Fee-Free Trading

On March 20, Binance officially announced that it would launch the first batch of coin voting activities, inviting users to vote for the first batch of tokens to be listed on Binance under the official post on Binance Square. The first batch of coin voting projects is limited to tokens based on the Binance Chain (BNB Chain), and future voting rounds will expand to include all tokens in Binance Alpha. The first batch of tokens includes BANANAS31 (Banana For Scale), BID (CreatorBid), Broccoli (Broccoli), Broccoli (CZ'S Dog), KOMA (Koma Inu), SIREN (SIREN), mubarak (mubarak), TUT (Tutorial), WHY (why). Related Reading: "Binance Launches "Coin Voting," 9 Memes Listed, How Can Users Participate?" Additionally, Binance Wallet announced that starting from 16:00 on March 17, 2025, all exchange trading pairs in Binance Wallet will enjoy zero transaction fees. The event will end at 16:00 on September 17, 2025.

"50x Leverage Whale" Real Identity Controversy: A Real-World Cybercriminal

The mysterious high-frequency trading whale on Hyperliquid, known as the "50x Leverage Whale," attracted attention in the industry due to its super high win rate. The whale made around $20 million in profits through high-leverage positions from January to March 2025. Many suspect that the whale's precise market entries were insider trading by the Trump Cryptocurrency Group. However, on March 18, blockchain detective ZachXBT revealed that the market's "50x Leverage Whale" is, in reality, a cybercriminal who used stolen funds for gambling.

Investigations uncovered that this individual exploited vulnerabilities in gambling games and phishing attacks to obtain funds, and engaged in high-leverage trades on Hyperliquid and GMX through multiple wallets. Ultimately, the whale was traced back to William Parker (formerly known as Alistair Packover), a convicted felon with a history of fraud and gambling crimes. Currently, the funds are primarily held in an Ethereum address. Related Reading: "50x Hyperliquid Whale Identity Revealed, Turns Out to Be a Fraudster Who Made Headlines in the UK?"

Movement Genesis: MoveDrop to Launch in April with Additional Incentives

Movement Labs co-founder Rushi Manche responded to recent airdrop controversies in a post on X, stating, "MoveDrop is coming soon (confirmed to launch in April). Ahead of this, a few key issues need to be addressed: · Ensure TVL is bridged from Cornucopia, Parthenon is ready, there are no additional claiming conditions, guard against Sybil Activity, additional incentives. This will ensure a smooth and delay-free MoveDrop process."

OKX DEX Aggregator Service Paused, Impacting Multiple API Trading Bots

On March 17, OKX officially announced that after consulting with regulatory authorities, they have voluntarily decided to temporarily pause the DEX aggregator service to conduct more security upgrades to prevent further abuse. As a result, related limit orders and cross-chain orders will be automatically canceled. OKX stated that the specific resumption time will depend on the progress of the upgrades. During this period, users can still trade by redirecting to third-party protocols, and other OKX Web3 wallet services will not be affected. Related Reading: "DEX Aggregation Product Hits Pause, OKX Seems a Bit Misunderstood"

BNB Chain Sees Emergence of Multiple Memes, CZ and He Yi Engage in Public Chain Hype

This week, under CZ's leadership, multiple meme tokens emerged on the BNB Chain. CZ and He Yi chose to interact with some of them, thereby promoting BNB Chain. With the Solana meme market weakening, market funds began flowing to the BNB Chain. On March 22, BNB Chain (BSC) TVL surpassed $7 billion, currently at $7.06 billion. The 24-hour DEX trading volume on BSC reached $2.61 billion, the leverage contract trading volume reached $93.47 million, net fund inflow was $28.1 million, and active addresses reached 1.21 million.

Trump Provides "Speech" via Video at Digital Assets Summit, But Does Not Announce Any New Policies

Former US President Trump's "speech" at the 2025 Digital Assets Summit lasted only about 2 minutes, consisted entirely of "pleasantries," and did not contain any new content, contrary to previous leaks by reporter Eleanor Terrett claiming Trump would announce his upcoming crypto policies at the US Digital Assets Summit. From the live stream of the summit, the live chat room was filled with disappointed comments from viewers.

AUCTION Token Skyrockets 500% in a Single Week, Users Question Whale Manipulation

The Bounce Brand ecosystem token AUCTION has shown remarkable strength during this period, demonstrating outstanding price performance. Since hitting a low of $7 in early February, the AUCTION price has been on a steady rise, reaching $68 on March 21, not only surpassing the previous year's price high but also achieving a peak gain of over 470% in just a month and a half, far above the market average. The violent price surge has also brought about an extremely high funding rate, with all trading platforms hitting the limit of around -2% and maintaining it for several days. Many users on social media have expressed that the irrational price movement is a result of malicious manipulation by whales behind the scenes. Related Reading: "AUCTION Surges Nearly 500% in 50 Days: Is It 'Whale' Manipulation or Discovery of Potential Value?"

Whale: Strategy Amplifies Bitcoin's High Volatility by 2.5x to U.S. Stocks, Professional Institutions Utilize It for Arbitrage

On March 17, according to Whale, co-founder and CEO of Cobo, Strategy (MSTR) cleverly amplified Bitcoin's high volatility by 2.5 times and transmitted it to the U.S. stock market. Professional institutions are leveraging this high volatility for arbitrage to gain short-term profits. MSTR is accumulating a large amount of Bitcoin through the issuance of convertible bonds and ATM issuances to use cash for mass Bitcoin hoarding. Ordinary shareholders bear the brunt of severe stock price fluctuations and short-term downside risks but passively receive "Bitcoin gains" with each share of Bitcoin increasing. Bitcoin holders benefit from ongoing market inflows and Bitcoin price appreciation.

U.S. SEC Acting Chair: Considering Repealing or Modifying Proposals on Investor Asset Protection During Biden's Term, Including Cryptocurrency

On March 18, the Acting Chair of the U.S. Securities and Exchange Commission (SEC) stated that they are considering adjusting the monthly reporting rules on the holdings of mutual funds and ETFs. They are considering repealing or modifying proposals related to investor asset protection (including cryptocurrency) brought up during Biden's term.

EOS Rebrands to Vaulta, Focusing on Web3 Banking Business

On March 19, EOS Network announced that it will rebrand to Vaulta, with a renewed focus on Web3 banking business. This transformation comes with a scheduled token swap expected by the end of May. It also introduces the Vaulta Bank Advisory Board, a team composed of finance and blockchain industry experts dedicated to bridging the gap between traditional banking and decentralized systems. The members of this board include executives from Systemic Trust, Tetra, and ATB Financial. Vaulta plans to retain its technical infrastructure from the EOS Network, including smart contract architecture, decentralized databases, and blockchain interoperability. As part of its Web3 banking initiative, the platform will integrate with the Bitcoin-focused digital banking solution exSat. Vaulta will leverage multiple partnerships with collaborators such as Ceffu, Spirit Blockchain, and Blockchain Insurance to expand its Web3 banking business ecosystem.

YZi Labs Announces Investment in Plume Network

On March 17, YZi Labs announced an investment in Plume Network, aiming to bring real-world assets on-chain and advance RWAfi. Plume is building an EVM-compatible environment that not only introduces a diverse set of RWAs but also plugs them into a composable RWAfi ecosystem, giving them utility. Plume's mission is to tailor blockchain infrastructure to both crypto-native users and institutions. Having successfully completed a testnet with over 18 million wallets and partnered with over 180 protocols, Plume not only brings the real world onto the blockchain but also bridges the gap between Decentralized Finance (DeFi) and traditional finance, aiming to unlock the full potential of RWAfi. Read more: "Understanding Plume Network: Up 20% Against the Trend, Binance's Chosen RWA Exclusive L1"

Crypto KOL: WhiteRock Suspected to Be Launched by a Team with a Rug Pull History, Users Advised to Be Cautious

On March 16, according to crypto Key Opinion Leader (KOL) Helicopter Money, the on-chain brokerage project WhiteRock is suspected to be launched by the ZKasino team, and users are advised to be cautious. ZKasino had previously rug pulled users of 10,500 ETH (worth over $30 million at the time). Read more: "ZKasino Making a Comeback? New Project WhiteRock Allegedly 'Re-shelled' by the Same Team"

Solana Futures Officially Launch on CME

On March 17, Solana futures officially launched on CME, where CME now offers two sizes of new contracts: a micro contract covering 25 SOL and a standard contract covering 500 SOL. Giovanni Vicioso, Global Head of CME Group's cryptocurrency products, stated, "As Solana continues to be the platform of choice for developers and investors, these new futures contracts will provide a capital-efficient tool to support their investment and hedging strategies."

Crypto.com Pushes Through Controversial Vote to Reissue 700 Billion Burned CRO Tokens

On March 18, the final vote result for "Crypto.com to Reissue 700 Billion Burned CRO Tokens" was 61.18% in favor, 17.61% against, 20.11% abstained, and 0.11% vetoed. The participation rate for the vote reached 70.18%. Throughout the voting period of the proposal (March 2 to 16), most of the time, the support votes barely exceeded the opposing votes, but as the required 33.4% voting threshold was not met, the proposal did not take effect. It wasn't until last Sunday, when 33.5 million CRO tokens were added to the supporting votes, that the threshold was met. With the vote passing, the Cronos blockchain will undergo an upgrade to mint 700 billion new CRO tokens. These newly issued tokens will be gradually unlocked over five years for various purposes, including providing funding for a potential CRO ETF.

Canary Funds Submits First SUI ETF Application to the US SEC

On March 17, according to official sources, Canary Funds submitted the first SUI ETF application to the U.S. Securities and Exchange Commission (SEC). If approved, this ETF will provide investors with direct exposure to the SUI spot exposure, further driving institutional adoption.

Mask Network Founder: Decentralized Writing Platform Mirror's Content Has Not Been On-Chain for Two Months

On March 17, according to Mask Network founder Suji Yan, decentralized writing platform Mirror has not stored any articles on-chain since 12:38 am on January 13, 2025, with all content only being stored on servers for the past two months. Related reading: "The Rise and Fall of Mirror: From a Pioneer of Web3 Content Revolution to a Sample of 'Decentralized Bubble'"

This Week's Popular Articles

"Solana Ad Backfires, Should Public Blockchains Take Political Sides?"

Solana and Base recently had a dispute over ideological issues, reflecting the blockchain projects' divergent political stances. Solana released an ad implying that certain modern ideologies hinder innovation, which was later deleted but minted by the community, and Base responded with a short video. Solana has been criticized for its support of the "Black Lives Matter" movement, while Ethereum insists on decentralization and political neutrality. Projects like Solana and Base are increasingly aligning with Trumpism, while Ethereum remains independent, demonstrating the competition for political discourse in the public blockchain ecosystem. The crypto world is transitioning from a technical competition to an ideological game, and the belief in decentralization faces the challenge of real-world survival rules.

"The People Who Left the Telegram Mini Games"

The TON ecosystem was once seen as a traffic gold mine for Web3 but quickly declined after a brief boom. The Telegram mini-games in the TON ecosystem had attracted substantial funds, resulting in the emergence of hundreds of games within a short period. TVL increased by 70 times, and the TON price briefly surged from $2 to $8. However, the extremely low customer acquisition cost led to artificially inflated data, with a very low proportion of real users, making the ecosystem's traffic manipulated by project teams and studios. Internal factional struggles within the TON Foundation, with key resources controlled by a Russian team, gradually led to the core ecosystem development being dominated by the TOP organization. The TON Foundation's strategic shift towards DeFi suddenly left small game developers without support. Coupled with the arrest of the Telegram founder and frequent listings on exchanges leading to oversaturation of the market, the TON ecosystem quickly plummeted, turning Web3's anticipated "traffic explosion outlet" into a short-lived speculative game.

"CZ's 'Post-Binance Era': 170 Days, 363 Tweets, Busier Than When CEO?"

Since stepping down as Binance CEO, CZ has been even more active, frequently tweeting and participating in various activities. He has not only invested in decentralized science (DeSci) and biotechnology but has also demonstrated strong market influence through meme coins, driving the Meme economy on the BNB Chain. At the same time, he is dedicated to founding Giggle Academy, using blockchain technology to reshape the education system, emphasizing improving retention rates through gamified learning, and advocating for practical skill assessment to replace traditional degrees. CZ's transformation is not only a reshaping of his personal brand but also signifies his new role positioning in the crypto ecosystem.

"Latest Interview with Andre Cronje: 'I Didn't Enter Crypto to Make Money' | In-Depth Dialogue"

In this article, Andre Cronje shares his original intentions for entering the crypto industry, his views on the current state of the industry, and his future outlook. He mentioned that he is not primarily money-driven but is attracted by the industry's innovative potential. Despite the abundance of low-quality projects and fund flow issues in the current industry, he persists in solving the industry's challenges. Andre discussed the impact of meme coins on capital flow, compared the differences between the ICO era and now, and pointed out that infrastructure progress has reached 50%-60% but still needs to be breakthrough. He also emphasized that future innovation will come from "crypto-native" developers, hoping to drive the development of decentralized exchanges and infrastructure, ultimately bringing about a transformation in the financial industry.

"STO: Possibility, Path, and Long-term Impact of U.S. Stocks on the Chain"

STO (Security Token Offering) has regained attention in the crypto field, especially after Coinbase's CEO and CFO proposed restarting stock tokenization, becoming a hot topic. This topic was first mentioned in 2020 but was not able to progress due to unfavorable regulatory conditions. Recently, with the SEC's abandonment of the lawsuit against Coinbase and the government's more crypto-friendly attitude, Coinbase intends to tokenize its stocks and plans to issue them on the Base chain. The main advantage of stock tokenization is its ability to break geographical restrictions, transforming the traditional financial market into a global market. In addition, stock tokenization may empower stocks, expanding their functionality from a mere shareholder certificate to a multifunctional tool usable for pledging, payments, and more, bringing greater value.

"Ethena Releases New Public Chain Converge, Is the Stablecoin Leading the Way in DeFi+TradFi?"

Converge is a settlement network driven by Ethena Labs and Securitize, aiming to integrate traditional finance with DeFi, using USDe and USDtb as core assets to build a high-performance EVM-compatible network. By supporting institutional fund inflows and tokenized assets, Converge will provide permissionless and permissioned financial applications, driving deep integration between traditional finance and crypto finance, with the mainnet scheduled to launch in the second quarter.

"The Rise and Fall of Mirror: From Web3 Content Revolution Pioneer to 'Decentralized Bubble' Case Study"

Mirror was once a pioneer in the Web3 content creation platform, empowering creators with ownership and revenue from their content. However, due to strategic shifts, product weaknesses, regulatory pressure, and user growth challenges, the platform gradually declined. Although it once garnered widespread attention in the crypto community, its deviation from the decentralized ethos, key data centralization, and an economic model similar to Web2 platforms led to a breakdown of user trust. Ultimately, Mirror was acquired and transformed, marking the failure of Web3 content platforms and the collapse of the decentralized ethos.

"From Overnight Riches to Starting Over from Scratch, Reflections on Speculation from a 'Crypto Elder'"

The author of this article reflected on his cryptocurrency investment experience, sharing three major lessons learned from greed, emotional investing, and lifestyle traps. He suffered heavy losses in the 2018 bear market due to blindly chasing altcoin investments and then lost everything through futures trading. In March 2020, the Bitcoin flash crash led him to completely exit the crypto space and switch to film production. In the end, he realized that greed, emotional investing, and rapidly upgrading his lifestyle were the root causes of his failure.

"Unveiling the Market Maker 'Black Box': VC Rollercoaster Market Making, Project Teams Turned into 'Rug Pull Victims'?"

Liquidity providers play a key role in the market but may also engage in unethical practices. Liquidity providers can be divided into active and passive categories, with active providers potentially profiting by manipulating market prices, collaborating with project teams, or influencing coin prices. In the past, many liquidity providers have been involved in regulatory investigations, such as Jump Crypto and Cumberland DRW. Common manipulation tactics by liquidity providers include wash trading, pump and dump schemes, and many providers also invest in projects to influence the market through liquidity provision or funding support. Project teams often choose multiple liquidity providers to spread risk, but a lack of regulation and oversight makes it difficult to effectively curb these behaviors.

"CZ's Meme Experiment: Money Splashing, Collaboration, Infrastructure, Can It Lead to a New Future for BNB Chain?"

BSC has recently made a strong push to promote the Meme ecosystem by incentivizing liquidity, fostering ecosystem partnerships, and developing infrastructure to advance the overall on-chain ecosystem. However, despite short-term increases in liquidity and users, the long-term effects are not significant. BSC's TVL and on-chain activity have fluctuated, especially as Meme-related liquidity incentives have not led to stable user growth. While Meme tokens have performed well in the market, other tokens have generally declined, and the overall impact has not surpassed the performance of other chains.

"Aave's New Horizon Plan Faces Opposition, Institutional Adoption vs. Community Interests, Who Is More Important?"

Aave announced the launch of the RWA plan Horizon on March 13, allowing institutions to use tokenized money market funds as collateral to borrow stablecoins, with plans to migrate to Aave V4 in the future. However, the community has raised strong objections to Horizon's potential issuance of new tokens and its profit distribution mechanism, believing that this move would dilute AAVE's value, harm the interests of long-term holders, and question Aave Labs' motives. Faced with ongoing opposition, founder Stani first attempted to explain, but eventually compromised on March 16, committing to using only the AAVE token. This incident highlights Aave's challenge in balancing institutional demands and community interests as it explores the RWA space.

"Malicious Node Earns 1000 SOL in a Single Transaction, Why Has Solana Become an MEV Hotspot?"

Solana recently faced frequent sandwich attacks on transactions due to MEV-related issues, with users complaining of being "front-run." Some traders suffered significant SOL losses when selling $GANG tokens due to routing issues, and analysis indicated that some Jito validators may have leaked data, allowing attackers to profit in advance. Despite Solana Foundation taking measures to remove malicious nodes, attackers continue to monitor transactions through private RPC. Unlike Ethereum, which limits transaction manipulation through MEV-Boost, Solana faces greater difficulty in prevention due to relatively centralized validators. In the current scenario, users can reduce slippage and enable MEV protection features to mitigate risks. However, if the issue persists, Solana's ecosystem reputation may be at risk.

"Why Will a Single New Energy Asset No Longer Be the Hotspot of the RWA Market?"

The hype around the new energy market has declined, with single new energy assets facing challenges of saturation, illiquidity, and policy uncertainty. Traditional investment and financing models struggle to adapt to market changes, and cross-industry asset portfolios are becoming a new trend in the RWA market. Integration models across industries such as new energy + AI hashing power, transportation, logistics, commodities, agriculture, etc., not only enhance asset returns but also create new investment opportunities. In the future, RWA investments need to break traditional boundaries and explore diversified asset portfolios to achieve higher returns and greater market adaptability.

"Bitcoin in the Shadow of Trade Wars: How to Find Balance Between Risk and Hedge?"

Bitcoin's status as a hedge asset has been questioned in recent years, especially under global economic pressures and market volatility, where Bitcoin's performance lags behind traditional hedge assets like gold. Many experts believe that Bitcoin's high volatility makes it unsuitable as a hedge tool. Although Bitcoin has the potential for long-term value storage, it is more often seen as a speculative asset highly correlated with risk assets such as tech stocks. Bitcoin's dual nature means it may behave differently in different economic contexts, serving as a hedge tool in specific situations or being significantly affected during market turmoil.

"Strategy Reboots 'Buy Buy Buy' Mode? A Comprehensive Analysis of the New Financing Scheme"

Strategy (formerly MicroStrategy) plans to issue up to $21 billion in 8% Series A Perpetual Preferred Stock, marking an innovation in the company's financing approach. Unlike past reliance on debt financing and stock issuance, preferred stock is not tied to company performance and has no fixed maturity date, offering greater financing flexibility. Although it carries a higher dividend rate (8%), it avoids the repayment pressure of traditional debt financing. This financing method may bring more stable cash flow to Strategy, especially for purchasing Bitcoin. However, the market has doubts about whether it is suitable for the current downturn, as it may increase volatility risks.