New Developments Happening in the Blockchain Space: 27-02-2025
Tether CEO Paolo Ardoino Says Quantum Computing Will Allow Hackers To Take Bitcoin From Lost Wallets
The chief executive of stablecoin issuer Tether (USDT) says that quantum computing will allow hackers to steal Bitcoin (BTC) from lost wallets.
In a new thread on the social media platform X, Tether CEO Paolo Ardoino predicts that while active crypto users may move their funds to quantum-resistant wallets, those who have abandoned or lost their stashes won’t be able to do so, leading to those Bitcoin eventually being extracted via the new technology.
“Prediction: quantum computing is still very far from any meaningful risk of breaking Bitcoin cryptography. Quantum-resistant addresses will eventually be added to Bitcoin before there is any serious threat.
All people alive (and that have access to their wallets) will move Bitcoin into new quantum-resistant addresses. Any Bitcoin in lost wallets, including Satoshi (if not alive), will be hacked and put back in circulation.”
Quantum computing is when computers use the principles of quantum mechanics to solve complex problems and perform computations that far exceed the capabilities of classical computers. Read More
Ripple Expands in Europe—Its Payments Solution Hits Portugal for the First Time
Ripple announced a partnership with Unicâmbio, a Portuguese currency exchange provider, on Feb. 10 “to support instant cross-border payments between Portugal and Brazil using Ripple Payments.” This initiative leverages digital assets to provide faster and more cost-effective transactions, marking a significant step in Ripple’s European expansion. By integrating Ripple’s blockchain-powered solution, Unicâmbio’s corporate clients will experience near-instant settlement, drastically improving the efficiency of money transfers between the two nations. The crypto firm detailed:
This collaboration marks the first time that Ripple’s payments solution has been made available in Portugal, expanding the digital asset leader’s European footprint while strengthening the Portugal-Brazil payments corridor.
Cassie Craddock, Managing Director for the UK and Europe at Ripple, underscored the importance of this expansion, stating: “Our partnership with Unicâmbio is a significant milestone in Ripple’s European expansion. Portugal has developed a thriving crypto ecosystem so we are delighted to open up our payments solution to partners there.”
Adriana Jerónimo, Executive Board Member at Unicâmbio, also emphasized the deep financial connections between the two countries and the impact of blockchain on money movement. She highlighted that Ripple’s technology “enables near-instant settlement and drastically reduces costs compared to traditional payments channels, delivering real value to our customers.” Read More
Coinbase Launches Solana, Hedera Futures Contracts for US Traders
Coinbase said on Tuesday that its derivatives exchange now offers futures contracts for Solana (SOL) and Hedera (HBAR), expanding its suite of products to cover more cryptocurrencies with pending applications for spot ETFs in the U.S.
Regulated by the CFTC, Coinbase said in a blog post that the exchange’s derivatives arm now offers futures contracts for 19 total assets, including Dogecoin, Litecoin and gold, among other altcoins.
Solana, Hedera, Dogecoin, and Litecoin are part of an emerging race by crypto and more traditional financial services firms to address soaring demand for crypto-focused investment products. In recent weeks, these companies have submitted a flurry of applications for spot crypto ETFs, a result of the more crypto-friendly policies of the new Trump administration.
Last week, the Securities and Exchange Commission began weighing applications for Solana ETFs. The filings could expand investors’ options on both a retail and institutional level, beyond Bitcoin and Ethereum in the U.S.
The SEC’s deadline for these applications can be extended up to 240 days. Still, the regulator’s timeline begins with a 21-day review period, meaning it may conclude next month. Read More
'Cardex' Game Exploit Drains Wallets on Ethereum Layer-2 Abstract
Abstract trading card game Cardex reportedly mishandled its private keys, leading to nearly $500K worth of assets swiped from players.
Cardex, a blockchain trading card game on Ethereum layer-2 network Abstract, mishandled its private keys, according to Abstract network core contributors, leading to over $470,000 worth of Ethereum being drained from wallets that interacted with it.
Cardex offered tokenized digital versions of “high-end trading cards,” like a 1st Edition Shining Charizard Pokémon card, which could then be used to compete in online tournaments. Each card has a score that is calculated by its “performance” rating and multiplied by its rarity, with these scores used to determine who would win a tournament.
The game officially launched last week, after a 24-hour card presale for early access users. Early on Tuesday, wallets that had interacted with the Abstract app started to be drained of funds. Pseudonymous Abstract core contributors Cygaar and 0xBeans figured out that the Cardex private key had been mishandled, falling into the hands of a malicious actor, confirming it on X (formerly Twitter). Read More
3 reasons why stablecoin growth thrives globally — Will US follow under Trump?
Stablecoin use in emerging markets soars despite the absence of crypto-friendly regulations and basic banking infrastructure. Will the US catch up to this trend?
While the Trump administration lays the preliminary groundwork for crypto industry regulations in the US — with the White House’s new crypto czar expected to set the course in the coming months—these digital assets are already thriving in emerging markets. For precisely the good reasons.
Pegged to fiat currencies, stablecoins are becoming an important financial tool for many in the developing world, fueling remittances and cross-border trade, bridging financial inclusion gaps, and offering a hedge against inflation in countries where traditional banking often falls short, and millions are left with little to no access to financial services.
Stablecoins — mostly pegged to the US dollar — have seen explosive growth in recent years, with real-world use cases expanding rapidly across Africa, Latin America, and parts of developing Asia. While the US is still figuring out how to apply this technology beyond the crypto space, emerging markets are already proving why stablecoins matter.
In these regions, they’re not just a financial experiment — they’re a solution. Read More
A New Crypto Category Has Emerged. What Impact Will it Have…Will It Evolve Into A Significant Narrative?
US-based cryptocurrency initiatives have historically been reticent about their origins. However, during Gary Gensler's tenure, they became vulnerable to aggressive scrutiny from the SEC, and numerous projects found themselves in the regulatory crossfire. Being a US-based project has often been a liability rather than a benefit in recent years.
The cryptocurrency industry has been electrified by the outcome of the U.S. Presidential election, with Donald J. Trump's victory sparking widespread anticipation. The regulatory shifts expected under Trump's leadership are poised to grant the crypto sector unprecedented freedom in the United States.
A new cryptocurrency category has surfaced amid this enthusiasm: "Made in the USA." This category includes cryptocurrencies that are closely linked to the United States, whether through headquarters located in the US or ties to notable American personalities. With Trump backing crypto, this category could see substantial growth, likely surpassing many others.
This has the potential to evolve into a significant narrative; thus, this article explicitly addresses cryptocurrencies based in the United States, the reasons this narrative could gain prominence, and the cryptocurrencies that may benefit from a Trump administration. To commemorate President Trump's inauguration, a newly established cryptocurrency category titled 'Made in USA' has been incorporated into price tracking platforms, including CoinMarketCap and CoinGecko. Read More
Crypto firms need to go public to ‘address Wall Street’ — BitGo CEO
BitGo CEO Mike Belshe has said that crypto companies going public are key to drumming up trust in digital assets and addressing traditional finance players.
“One of the things I think, in order to address Wall Street, you’ll [need to] be a public company,” Belshe said on stage on Feb. 19 at Consensus Hong Kong 2025.
He added that some Wall Street firms previously tried to interface with private crypto companies, mentioning FTX as an example that “didn't work out so well.” The bankrupt crypto exchange recently announced its next creditor repayment round slated for May.
Belshe added that Wall Street has learned that “diligence really matters,” as does the processes and regulatory oversight of the Securities and Exchange Commission.
“It is a key part of delivering trust, so it’s in the destiny [to go public],” he said.
Belshe co-founded crypto custodian BitGo in 2013 and hinted at a possible public offering later this year but said he wouldn’t comment on a timeline. Read More
Hong Kong edges toward crypto acceptance in immigration scheme as stablecoin push grows
Hong Kong is starting to show a more flexible attitude toward crypto – at least when it comes to proving wealth for its investment immigration scheme. It’s not an official stamp of approval just yet, but the door seems to be open.
The shift came into focus after Clement Siu, a local certified public accountant, shared that he had handled two cases where bitcoin and ether were accepted as proof of wealth under Hong Kong’s New Capital Investment Entrant Scheme (New CIES). That raised some eyebrows because cryptocurrencies aren’t actually on the official list of approved investments under the scheme.
But Siu’s experience suggested something interesting: while you can’t invest directly in crypto to qualify for residency, it might still work as evidence of your overall wealth.
When asked about this, InvestHK, the department overseeing New CIES applications, gave a carefully worded response. Officials said there were “no specific requirements” on asset classes – a vague but telling statement that left room for interpretation. They didn’t confirm or deny whether crypto is officially acceptable, nor did they say how many applicants had successfully used it.
Siu, deputy managing partner at Global Vision CPA, which issues accountant reports to support immigration applications, said: “InvestHK has never said whether crypto assets are acceptable or not, but they encouraged us to give it a try, so we just tried.” Read More
Hyperliquid Unveils HyperEVM to Expand Programmability in DeFi Ecosystem
Hyper Foundation, the entity behind the popular decentralized finance (DeFi) protocol, Hyperliquid, has announced the launch of HyperEVM, in a significant step toward integrating general-purpose programmability into its financial system.
The initial mainnet release includes HyperEVM blocks built as part of Layer 1 execution, inheriting security from HyperBFT consensus. It also enables spot transfers between native spot HYPE and HyperEVM HYPE, with HYPE serving as the native gas token. Additionally, a canonical WHYPE system contract, deployed at address 0x555…5, has been introduced to support DeFi applications on the platform.
In its official announcement, Hyper Foundation said that tooling and analytics may “not be polished” at the launch of the mainnet HyperEVM. However, the foundation assured that many experienced builders are working to improve these areas. To assist them, HyperEVM block data is streamed live to S3, allowing indexing without operating a node.
A future network upgrade will enable general ERC20 native transfers and precompiles. The community can provide Feedback on these features during the testnet phase. Although they are already available on testnet, their mainnet rollout is staggered to ensure minimal disruption to current L1 users. The foundation maintained that HyperEVM is composable with the L1 state while not affecting the low-latency trading experience of existing users. Read More
Latam Insights Encore: Libra Might Benefit Argentina's Crypto Policy After All
Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from the past week. This edition examines how the recent debacle of Libra, a token endorsed by Argentine President Javier Milei, might become a positive event for the future of Argentina’s crypto policy.
Latam Insights Encore: Javier Milei’s Libra Disaster Might Straighten Argentina on Crypto and Bitcoin:
The recent debacle of Libra, a coin that was endorsed by Javier Milei as a token that would serve to fund local entrepreneurs, might have a positive outcome even when it is currently threatening its administration.
The downfall of this initiative might straighten the president’s opinion on the dilemma between bitcoin, which is currently even being considered as a reserve asset at an international level, and other cryptocurrencies like meme coins. Milei’s experience will, in no doubt, sway his administration to assume the stance of countries like El Salvador, which while have developed general crypto regulation but hold bitcoin in the highest regard.
Before the incident, Milei had been open to all forms of cryptocurrency, also including bitcoin. This has not been the first rodeo of Milei in the crypto industry, and certainly not its first failure. Read More
Polkadot to launch first blockchain course for policymakers, UK MPs
Polkadot Blockchain Academy (PBA) is set to launch the crypto industry’s first educational course designed for policymakers, aiming to equip lawmakers with a deeper understanding of blockchain technology and Web3
The three-day course, Blockchain Basics for Policymakers, will run from April 6 to April 8, 2025, in Zug, Switzerland, a region known as Crypto Valley due to its blockchain-friendly policies.
A delegation of UK members of parliament (MPs) from major political parties will attend the inaugural course, led by Lisa Cameron, the founder of the UKUS Crypto Alliance and an MP from 2015 to 2024, according to a Feb. 17 announcement shared with Cointelegraph.
The course comes during a crucial time of growth for the UK crypto sector, according to Cameron:
“Given the prominent role that blockchain technology is poised to play in the UK’s tech sector, it is essential that policymakers are equipped with the knowledge to make informed decisions.”
“Polkadot Blockchain Academy’s inaugural course offers a valuable opportunity for MPs to gain firsthand insights into the real-world applications of Web3,” she added. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
Featured Image Source: Pixabay
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