Former Congressman Patrick McHenry, who spent the last few years of his political career advocating for the crypto industry, announced through an X post on Feb. 26 that he is joining venture capital firm a16z as a senior adviser.
Silicon Valley-linked defense companies are seizing on their newfound influence in the Trump administration to address the Pentagon’s shifting focus, pitching their services in fields ranging from autonomous drones to a newly named “Golden Dome” missile-defense shield.
After a 200-year hiatus, a modern privateer program would protect American entrepreneurs, enhance national security interests and play an essential role in reasserting American leadership in technology and innovation.
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🚀 From market crashes to institutional power moves, here are the top headlines shaping the crypto world right now.
1️⃣Citadel Securities Eyes Crypto Market-Making
Investment giant Citadel Securities ($62.3B AUM) is considering entering the crypto market-making space amid improving regulatory conditions. This move could bring significant liquidity to the market.
The U.S. SEC clarified that meme coins—cryptos inspired by internet trends—do not qualify as securities under the Securities Act of 1933. While this means no registration is required, investors assume full risk.
3️⃣ Bybit CEO Confirms Hack of Exchange’s Cold Wallet
Bybit’s CEO confirmed a hacker gained control of the exchange’s cold Ethereum wallet, stealing all funds stored there. The attack happened through a compromised cold wallet interface, tricking employees during a multisig transaction. Bybit is now seeking experts to recover the stolen assets.
PayPal plans to roll out a new billing product allowing over 20M small and medium retailers to use its stablecoin, PYUSD, for supplier payments. This could drive mainstream adoption of crypto-based payments.
The legendary Bitfinex whale “Spoofy” scooped up 4,000 BTC during a market dip. This investor previously accumulated and sold tens of thousands of BTC at key price levels. Many traders are now watching Spoofy’s next moves.
