Pi Network Twitter Surpasses Ethereum and Enters Top 5
On February 24, 2025, the cryptocurrency landscape witnessed a remarkable milestone as the Pi Network’s official Twitter account, known as @PiCoreTeam, surpassed Ethereum in terms of follower count, catapulting itself into the top five most followed crypto accounts in the world. This surge in popularity places Pi Network behind industry giants—Binance leading with 14 million followers, Bitcoin with 7.5 million, and Dogecoin with 4.3 million. Currently, Pi Network boasts 3.9 million followers, a testament to the project’s growing community and increased public interest. As Pi Day approaches, advocates within the community are ardently rallying to surpass Dogecoin’s figures, which could further enhance Pi Network’s visibility and influence within the crypto sphere.
Kanye West Sells X Account to Barkmeta for $17 Million
In an intriguing turn of events, music mogul Kanye West, now known as Ye, allegedly sold his X account to Barkmeta for a staggering $17 million. This transaction comes in the wake of a burgeoning cryptocurrency launch, but the deal has sparked considerable skepticism due to Barkmeta’s controversial history involving previous scams. On-chain analyst Blade has cautioned the crypto community about the pending meme coin release, urging due diligence. In a surprising twist, Ye has publicly distanced himself from the sale, claiming, “This is not real. I don’t know this person.” Such denial has led to heightened caution among investors, who remain wary of potential fraud.
Malaysia and Bahrain Unite on Crypto and Growth Initiatives
In a significant move towards advancing economic collaboration, Malaysian Prime Minister Anwar Ibrahim announced an initiative aimed at strengthening ties with Bahrain, focusing on various sectors including cryptocurrency, tourism, and manufacturing. As part of his diplomatic visit, Anwar aims to enhance bilateral relations and regional integration. Bahrain’s involvement in supporting the upcoming ASEAN-GCC summits underscores the importance of this partnership. Notably, earlier this year, Anwar had met with prominent figures in the crypto industry, including Binance’s Changpeng Zhao, to discuss regulatory frameworks, reflecting Malaysia’s commitment to modernizing its financial infrastructure for future growth opportunities.
Infini Hack: A Major Security Breach Costs $50 Million in USDC
A significant security breach hit Hong Kong-based digital bank Infini, resulting in the theft of approximately $50 million in USDC. The hacker exploited a vulnerability involving a single private key, executing the hack in two separate transactions. After pilfering the funds, the attacker exchanged USDC for DAI and subsequently converted it to ETH, utilizing Tornado Cash to obscure their trail. Alarmingly, it has been revealed that the hacker was involved in the development of Infini’s smart contracts and retained admin access even after the contract’s delivery. Infini’s founder, Christian Li, has sought to reassure customers by confirming that withdrawals remain unaffected and promising full compensation as needed. The incident has prompted police involvement, with the hacker’s computer reportedly located.
HK Asia’s Remarkable BTC Purchase Amid Stock Surge
HK Asia Holdings Limited recently made waves in the market by acquiring 7.88 Bitcoin totaling approximately $761,705 on February 20, 2025. This acquisition raised the company’s total Bitcoin holding to 8.88 BTC and was conducted with board approval using internal funding. Remarkably, this strategic buy comes just after an earlier Bitcoin acquisition that propelled the company’s stock by an impressive 93% on February 17. As of February 24, shares have shown a robust increase of 5.7% on the Hong Kong Stock Exchange, reflecting strong investor confidence amid Bitcoin’s stable price hovering around $95,600.
Georgia Democrats Propose SB 228 Bitcoin Reserve Legislation
In a political climate increasingly spotlighting cryptocurrency, Georgia’s Senate has introduced Senate Bill 228, aiming to establish a Bitcoin reserve for the state. This proposal follows closely on the heels of SB 178, which was backed by Republican sponsors, marking a significant moment in Georgia’s legislative landscape as Democrats introduce the first partisan challenger in the realm of Bitcoin reserve legislation. The emergence of these proposals reflects a growing recognition of cryptocurrencies’ potential within state financial frameworks.
Pi Coin Price Surge Linked to Potential Binance Listing
On a notable day for Pi Coin, its price surged more than 27%, climbing to $1.64 as anticipation grew regarding a potential listing on Binance. While there’s no official confirmation yet, 85% of participants in a recent poll expressed support for the listing, indicating robust community backing for the currency. Trading volumes have increased significantly, alongside healthy capital inflows, signaling high investor interest. Currently, Pi Coin has been listed on several prominent exchanges, including OKX, MEXC, and GateIO, enhancing its exposure and market presence.
Current Bitcoin Price Analysis
As of February 24, 2025, Bitcoin is trading at approximately $95,600, maintaining stability within a three-week price range oscillating between $94,000 and $100,000. Market analysts are closely watching this price activity, as a dip below $94,000 could potentially trigger a more significant decline, testing critical support levels around $90,000. Investors remain vigilant, assessing market conditions and preparing for possible shifts in Bitcoin’s trading dynamics.
Pump.fun’s Automated Market Maker Testing
In exciting developments within the memecoin ecosystem, the platform Pump.fun is currently testing its own Automated Market Maker (AMM). This initiative could alter liquidity dynamics, potentially shifting users away from established liquidity providers like Raydium. The platform might introduce new fee structures and innovative reward systems, igniting discussions within the crypto community regarding its impacts on market behavior and trading practices, much to the delight of memecoin enthusiasts.
Bybit Secures Client Funds with 400k+ ETH
Bybit’s CEO recently announced a substantial achievement, revealing that the firm has fully secured client funds amounting to over 400,000 ETH, following concerns about potential liquidity issues. By utilizing OTC purchases and loans, Bybit has managed to close its ETH gap, with plans to release an audited Proof of Reserves report. This diligence in assuring clients reflects Bybit’s commitment to maintaining trust and transparency in its operations as it navigates the complex landscape of cryptocurrency trading.
