BlackRock’s new European Bitcoin exchange-traded product (ETP) is a major step for Bitcoin’s institutional adoption in Europe, though analysts expect lower inflows than its US counterpart.

The iShares Bitcoin ETP, managed by the world’s largest asset manager, began trading on March 25 on Xetra, Euronext Amsterdam and Euronext Paris.

While the launch marks a significant step in bringing Bitcoin (BTC) exposure to European investors, analysts at Bitfinex said the product is unlikely to match the success of the US-based iShares Bitcoin Trust exchange-traded fund (ETF), which has seen strong demand from institutional and retail investors.

SiShares Bitcoin ETP listings. Source: BlackRock

“The US spot Bitcoin ETFs benefited from pent-up institutional demand, a deep capital market and significant retail investor participation,” Bitfinex analysts told Cointelegraph, adding:

“The presence of a BlackRock Bitcoin ETP in Europe still represents progress in terms of mainstream adoption, and as regulatory clarity improves, institutional interest could grow over time.”

They added that although Europe’s Bitcoin ETP market may develop at a slower pace, it remains a key part of Bitcoin’s global adoption story.

BlackRock, which oversees more than $11.6 trillion in assets under management, could encourage broader adoption of Bitcoin investment products in Europe and open new pathways for institutional capital to enter the crypto market.

Bitcoin ETF, institutional holder growth. Source: Vetle Lunde

Over in the US, institutional adoption of Bitcoin ETFs surged to over 27% during the second quarter of 2024 when over 262 firms invested in Bitcoin ETFs, Cointelegraph reported on Aug. 16.

Related: BlackRock increases stake in Michael Saylor’s Strategy to 5%

BlackRock’s global reputation may build momentum for European Bitcoin ETP adoption

BlackRock’s global reputation and expertise may “gradually build momentum” for European Bitcoin ETPs, according to Iliya Kalchev, dispatch analyst at digital asset investment platform Nexo.

“Modest inflows shouldn’t be interpreted as a failure but rather as a function of structural differences in the market,” Kalchev told Cointelegraph, adding:

“Long-term success in Europe may depend less on first-week flows and more on consistent access, education and infrastructure — elements BlackRock is well-positioned to deliver.”

While BlackRock’s European fund may not replicate the explosive growth of its US Bitcoin ETF, this should be “seen in context, not as a red flag,” considering the smaller European market’s limited liquidity.

Related: Michael Saylor’s Strategy surpasses 500,000 Bitcoin with latest purchase

Bitcoin ETF dashboard. Source: Dune

BlackRock’s US spot Bitcoin ETF briefly surpassed $58 billion, making it the world’s 31st-largest ETF among both traditional and digital asset funds as US Bitcoin ETFs surpassed $126 billion in cumulative BTC holdings, Cointelegraph reported on Jan. 31.

BlackRock’s ETF currently accounts for over 50.7% of the market share of all spot US Bitcoin ETFs, valued at $49 billion as of March 27, Dune data shows. 

Magazine: Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8

BlackRock’s new European Bitcoin exchange-traded product (ETP) is a major step for Bitcoin’s institutional adoption in Europe, though analysts expect lower inflows than its US counterpart.

The iShares Bitcoin ETP, managed by the world’s largest asset manager, began trading on March 25 on Xetra, Euronext Amsterdam and Euronext Paris.

While the launch marks a significant step in bringing Bitcoin (BTC) exposure to European investors, analysts at Bitfinex said the product is unlikely to match the success of the US-based iShares Bitcoin Trust exchange-traded fund (ETF), which has seen strong demand from institutional and retail investors.

SiShares Bitcoin ETP listings. Source: BlackRock

“The US spot Bitcoin ETFs benefited from pent-up institutional demand, a deep capital market and significant retail investor participation,” Bitfinex analysts told Cointelegraph, adding:

“The presence of a BlackRock Bitcoin ETP in Europe still represents progress in terms of mainstream adoption, and as regulatory clarity improves, institutional interest could grow over time.”

They added that although Europe’s Bitcoin ETP market may develop at a slower pace, it remains a key part of Bitcoin’s global adoption story.

BlackRock, which oversees more than $11.6 trillion in assets under management, could encourage broader adoption of Bitcoin investment products in Europe and open new pathways for institutional capital to enter the crypto market.

Bitcoin ETF, institutional holder growth. Source: Vetle Lunde

Over in the US, institutional adoption of Bitcoin ETFs surged to over 27% during the second quarter of 2024 when over 262 firms invested in Bitcoin ETFs, Cointelegraph reported on Aug. 16.

Related: BlackRock increases stake in Michael Saylor’s Strategy to 5%

BlackRock’s global reputation may build momentum for European Bitcoin ETP adoption

BlackRock’s global reputation and expertise may “gradually build momentum” for European Bitcoin ETPs, according to Iliya Kalchev, dispatch analyst at digital asset investment platform Nexo.

“Modest inflows shouldn’t be interpreted as a failure but rather as a function of structural differences in the market,” Kalchev told Cointelegraph, adding:

“Long-term success in Europe may depend less on first-week flows and more on consistent access, education and infrastructure — elements BlackRock is well-positioned to deliver.”

While BlackRock’s European fund may not replicate the explosive growth of its US Bitcoin ETF, this should be “seen in context, not as a red flag,” considering the smaller European market’s limited liquidity.

Related: Michael Saylor’s Strategy surpasses 500,000 Bitcoin with latest purchase

Bitcoin ETF dashboard. Source: Dune

BlackRock’s US spot Bitcoin ETF briefly surpassed $58 billion, making it the world’s 31st-largest ETF among both traditional and digital asset funds as US Bitcoin ETFs surpassed $126 billion in cumulative BTC holdings, Cointelegraph reported on Jan. 31.

BlackRock’s ETF currently accounts for over 50.7% of the market share of all spot US Bitcoin ETFs, valued at $49 billion as of March 27, Dune data shows. 

Magazine: Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8

In the rapidly evolving world of cryptocurrency, regulatory shifts, legal battles and groundbreaking policy proposals are shaping the industry’s future. 

The premiere episode of The Clear Crypto Podcast by Cointelegraph and StarkWare brings in a legal expert specializing in the crypto industry to help shed light on the state of crypto regulation in the US, ongoing enforcement actions and the growing role of Bitcoin in government reserves.

Crypto regulation in flux

With the Securities and Exchange Commission (SEC) under a transformed leadership in the Trump administration, the regulatory landscape is undergoing significant changes. High-profile lawsuits against Coinbase, Consensys, Binance and Tron have either been settled or dropped, signaling a new chapter for the industry.

Cointelegraph head of multimedia Gareth Jenkinson highlighted the importance of these shifts, noting how enforcement actions have played a pivotal role in shaping the industry’s approach to compliance. 

He recalled past conversations with Consensys CEO and Ethereum co-founder Joe Lubin saying: 

“If no one took the legal battle to the SEC, the industry just would have been regulated into the ground and it would have just been a wasteland.” 

The recent wave of case closures, including investigations into Uniswap, OpenSea and Gemini, marks a stark departure from the SEC’s previous approach.

Related: SEC dropping XRP case was ‘priced in’ since Trump’s election: Analysts

Lawyers as protectors of innovation

Katherine Kirkpatrick Bos, general counsel at StarkWare, also touched on the crucial role legal professionals play in the space in this pivotal moment. 

“The real value of a crypto lawyer is being dialed in —publishing, analyzing risks, and ensuring companies stay compliant while enabling innovation.”

She underscored the integrity within the crypto legal community, saying, “Most crypto lawyers are here for the right reasons — to protect builders and facilitate growth. Of course, bad actors exist, but the broader industry operates with a high level of integrity.”

Keeping up in a fast-paced industry

With regulatory shifts, legal battles and policy proposals unfolding at an unprecedented pace, staying informed is more challenging than ever. “Three massive news events happened in just three weeks — the Libra memecoin scandal, the Bitcoin reserve proposal, and the Bybit hack,” Jenkinson noted. “In crypto, you can’t sleep. You need a 24-hour news operation to keep up.”

As the US moves toward potential regulatory reforms and institutional adoption of Bitcoin, industry participants must remain vigilant. 

Whether it’s monitoring tax policy changes, tracking enforcement actions or preparing for a Bitcoin-backed financial future, the landscape is shifting rapidly. And for those navigating it, understanding these changes is not just beneficial, it’s essential.

To hear the full conversation on The Clear Crypto Podcast,  listen to the full episode on Cointelegraph’s Podcasts page, Apple Podcasts or Spotify. And don’t forget to check out Cointelegraph’s full lineup of other shows! 

Magazine: SEC’s U-turn on crypto leaves key questions unanswered

In the rapidly evolving world of cryptocurrency, regulatory shifts, legal battles and groundbreaking policy proposals are shaping the industry’s future. 

The premiere episode of The Clear Crypto Podcast by Cointelegraph and StarkWare brings in a legal expert specializing in the crypto industry to help shed light on the state of crypto regulation in the US, ongoing enforcement actions and the growing role of Bitcoin in government reserves.

Crypto regulation in flux

With the Securities and Exchange Commission (SEC) under a transformed leadership in the Trump administration, the regulatory landscape is undergoing significant changes. High-profile lawsuits against Coinbase, Consensys, Binance and Tron have either been settled or dropped, signaling a new chapter for the industry.

Cointelegraph head of multimedia Gareth Jenkinson highlighted the importance of these shifts, noting how enforcement actions have played a pivotal role in shaping the industry’s approach to compliance. 

He recalled past conversations with Consensys CEO and Ethereum co-founder Joe Lubin saying: 

“If no one took the legal battle to the SEC, the industry just would have been regulated into the ground and it would have just been a wasteland.” 

The recent wave of case closures, including investigations into Uniswap, OpenSea and Gemini, marks a stark departure from the SEC’s previous approach.

Related: SEC dropping XRP case was ‘priced in’ since Trump’s election: Analysts

Lawyers as protectors of innovation

Katherine Kirkpatrick Bos, general counsel at StarkWare, also touched on the crucial role legal professionals play in the space in this pivotal moment. 

“The real value of a crypto lawyer is being dialed in —publishing, analyzing risks, and ensuring companies stay compliant while enabling innovation.”

She underscored the integrity within the crypto legal community, saying, “Most crypto lawyers are here for the right reasons — to protect builders and facilitate growth. Of course, bad actors exist, but the broader industry operates with a high level of integrity.”

Keeping up in a fast-paced industry

With regulatory shifts, legal battles and policy proposals unfolding at an unprecedented pace, staying informed is more challenging than ever. “Three massive news events happened in just three weeks — the Libra memecoin scandal, the Bitcoin reserve proposal, and the Bybit hack,” Jenkinson noted. “In crypto, you can’t sleep. You need a 24-hour news operation to keep up.”

As the US moves toward potential regulatory reforms and institutional adoption of Bitcoin, industry participants must remain vigilant. 

Whether it’s monitoring tax policy changes, tracking enforcement actions or preparing for a Bitcoin-backed financial future, the landscape is shifting rapidly. And for those navigating it, understanding these changes is not just beneficial, it’s essential.

To hear the full conversation on The Clear Crypto Podcast,  listen to the full episode on Cointelegraph’s Podcasts page, Apple Podcasts or Spotify. And don’t forget to check out Cointelegraph’s full lineup of other shows! 

Magazine: SEC’s U-turn on crypto leaves key questions unanswered

South Korea’s Ethics Commission revealed that high-ranking public officials in the country hold an average of 35.1 million won ($24,000) in crypto assets. 

On March 27, the country’s Ethics Commission for Government Officials reportedly disclosed that more than 20% of the surveyed public officials hold 14.4 billion won ($9.8 million) in crypto. This means 411 of the 2,047 officials subjected to the country’s disclosure requirements hold crypto assets. 

The highest amount disclosed was 1.76 billion won ($1.2 million) belonging to Seoul City Councilor Kim Hye-young. 

The officials held different crypto assets, including Bitcoin (BTC), Ether (ETH), XRP (XRP), Dogecoin (DOGE), Luna Classic (LUNC) and others. 

South Korean public officials disclosed crypto holdings

The disclosure of public officials’ crypto assets follows calls for transparency from its prime minister.

In 2023, South Korean Prime Minister Han Deok-soo said in a news conference that high-ranking government officials must include crypto in their property disclosures. The official said crypto should be treated similarly to other assets like precious metals.

On May 25, 2023, South Korea passed a bill mandating public officials to include crypto in their public asset disclosures. The new system granted South Koreans access to the crypto holdings of at least 5,800 public officials starting in 2024. 

In June 2024, crypto exchanges in the country launched information provision systems to simplify the registration of information about crypto holdings. 

Related: South Korea temporarily lifts Upbit’s 3-month ban on serving new clients

Lawmaker controversy spurred crypto disclosure laws

The new law was created in response to the controversy involving South Korean lawmaker Kim Nam-kuk, who was accused of liquidating crypto assets and concealing holdings of around $4.5 million before lawmakers in the country enforced the Financial Action Task Force’s (FATF) “Travel Rule.”

Kim departed from the Democratic Party at the height of the controversial lawsuit to relieve party members of the burden of the lawsuit.

While prosecutors requested a six-month prison sentence for Kim, the lawmaker was eventually acquitted after a judge ruled that crypto assets were not subject to public disclosures at the time Kim made the transactions. 

Magazine: 3AC-related OX.FUN denies insolvency rumors, Bybit goes to war: Asia Express

South Korea’s Ethics Commission revealed that high-ranking public officials in the country hold an average of 35.1 million won ($24,000) in crypto assets. 

On March 27, the country’s Ethics Commission for Government Officials reportedly disclosed that more than 20% of the surveyed public officials hold 14.4 billion won ($9.8 million) in crypto. This means 411 of the 2,047 officials subjected to the country’s disclosure requirements hold crypto assets. 

The highest amount disclosed was 1.76 billion won ($1.2 million) belonging to Seoul City Councilor Kim Hye-young. 

The officials held different crypto assets, including Bitcoin (BTC), Ether (ETH), XRP (XRP), Dogecoin (DOGE), Luna Classic (LUNC) and others. 

South Korean public officials disclosed crypto holdings

The disclosure of public officials’ crypto assets follows calls for transparency from its prime minister.

In 2023, South Korean Prime Minister Han Deok-soo said in a news conference that high-ranking government officials must include crypto in their property disclosures. The official said crypto should be treated similarly to other assets like precious metals.

On May 25, 2023, South Korea passed a bill mandating public officials to include crypto in their public asset disclosures. The new system granted South Koreans access to the crypto holdings of at least 5,800 public officials starting in 2024. 

In June 2024, crypto exchanges in the country launched information provision systems to simplify the registration of information about crypto holdings. 

Related: South Korea temporarily lifts Upbit’s 3-month ban on serving new clients

Lawmaker controversy spurred crypto disclosure laws

The new law was created in response to the controversy involving South Korean lawmaker Kim Nam-kuk, who was accused of liquidating crypto assets and concealing holdings of around $4.5 million before lawmakers in the country enforced the Financial Action Task Force’s (FATF) “Travel Rule.”

Kim departed from the Democratic Party at the height of the controversial lawsuit to relieve party members of the burden of the lawsuit.

While prosecutors requested a six-month prison sentence for Kim, the lawmaker was eventually acquitted after a judge ruled that crypto assets were not subject to public disclosures at the time Kim made the transactions. 

Magazine: 3AC-related OX.FUN denies insolvency rumors, Bybit goes to war: Asia Express

European banks and financial institutions may be significantly underestimating the demand for cryptocurrency services, with fewer than one in five offering digital asset products, according to a new survey by crypto investment platform Bitpanda.

The study surveyed 10,000 retail and business investors across 13 European countries and found that more than 40% of business investors already hold cryptocurrencies, with another 18% planning to invest in the near future.

Yet, only 19% of surveyed financial institutions said their clients showed strong demand for crypto products — suggesting a 30% gap between actual investor adoption and perceived interest.

Crypto investments of EU private investors by country. Source: Bitpanda

Moreover, only 19% of surveyed European financial institutions are offering crypto services, while over 80% of institutions acknowledge crypto’s growing importance.

Related: Michael Saylor’s Strategy surpasses 500,000 Bitcoin with latest purchase

Still, some European banks are recognizing the growing demand for digital assets, with 18% of surveyed financial institutions planning to expand their crypto service offering, particularly offerings related to crypto transfers.

“Financial institutions in Europe know that crypto is here to stay, but most are still not offering services that match investor demand,” according to Lukas Enzersdorfer-Konrad, deputy CEO of Bitpanda.

The main barriers to adoption aren’t external issues such as regulation but internal, like a “lack of resource or knowledge,” he told Cointelegraph, adding:

“These can be overcome, and the challenge to financial institutions is clear: go and check your revenue outflows. You can see where customers are moving their money; you can see just how real the demand for crypto is.”

Partner preferences of private investors regarding crypto investments. Source: Bitpanda

More crypto products from banks may increase European crypto adoption, considering that 27% of the survey’s respondents would prefer to invest in cryptocurrencies through a traditional bank, while only 14% would choose a crypto exchange.

In comparison, 36% of business investors choose to invest through an exchange, while traditional banks were only the third most popular option with 27%.

Related: Security concerns slow crypto payment adoption worldwide — Survey

Financial institutions with no crypto integration risk losing revenue

Banks and financial institutions without cryptocurrency integrations risk losing significant revenue share from both businesses and retail investors, according to Enzersdorfer-Konrad.

“Financial institutions that delay integrating crypto services risk losing revenue to their competition or crypto native companies. With the EU’s Markets in Crypto-Assets Regulation (MiCA) providing regulatory clarity, the time to act is now,” he added.

Crypto sentiment among European financial institutions. Source: Bitpanda

Moreover, 28% of surveyed institutions said they expect crypto to become more relevant within the next three years.

Magazine: Ripple says SEC lawsuit ‘over,’ Trump at DAS, and more: Hodler’s Digest, March 16 – 22

European banks and financial institutions may be significantly underestimating the demand for cryptocurrency services, with fewer than one in five offering digital asset products, according to a new survey by crypto investment platform Bitpanda.

The study, which surveyed 10,000 retail and business investors across 13 European countries, found that more than 40% of business investors already hold cryptocurrencies, with another 18% planning to invest in the near future.

Yet, only 19% of surveyed financial institutions said their clients showed strong demand for crypto products — suggesting a 30% gap between actual investor adoption and perceived interest.

Crypto investments of EU private investors by country. Source: Bitpanda

Moreover, only 19% of surveyed European financial institutions are offering crypto services, while over 80% of institutions acknowledge crypto’s growing importance.

Related: Michael Saylor’s Strategy surpasses 500,000 Bitcoin with latest purchase

Still, some European banks are recognizing the growing demand for digital assets, with 18% of surveyed financial institutions planning to expand their crypto service offering, particularly offerings related to crypto transfers.

“Financial institutions in Europe know that crypto is here to stay, but most are still not offering services that match investor demand,” according to Lukas Enzersdorfer-Konrad, deputy CEO of Bitpanda.

The main barriers to adoption aren’t external issues such as regulation but internal, like a “lack of resource or knowledge,” he told Cointelegraph, adding:

“These can be overcome, and the challenge to financial institutions is clear: go and check your revenue outflows. You can see where customers are moving their money; you can see just how real the demand for crypto is.”

Partner preferences of private investors regarding crypto investments. Source: Bitpanda

More crypto products from banks may increase European crypto adoption, considering that 27% of the survey’s respondents would prefer to invest in cryptocurrencies through a traditional bank, while only 14% would choose a crypto exchange.

In comparison, 36% of business investors choose to invest through an exchange, while traditional banks were only the third most popular option with 27%.

Related: Security concerns slow crypto payment adoption worldwide — Survey

Financial institutions with no crypto integration risk losing revenue

Banks and financial institutions without cryptocurrency integrations risk losing significant revenue share from both businesses and retail investors, according to Enzersdorfer-Konrad.

“Financial institutions that delay integrating crypto services risk losing revenue to their competition or crypto native companies. With the EU’s Markets in Crypto-Assets Regulation (MiCA) providing regulatory clarity, the time to act is now,” he added.

Crypto sentiment among European financial institutions. Source: Bitpanda

Moreover, 28% of surveyed institutions said they expect crypto to become more relevant within the next three years.

Magazine: Ripple says SEC lawsuit ‘over,’ Trump at DAS, and more: Hodler’s Digest, March 16 – 22

Update March 27, 12:20 pm UTC: This article has been updated to add comments from San FranTokyo head David Taing and Moca Network project lead Kenneth Shek.

Sony’s Soneium blockchain partnered with Animoca Brands to boost anime culture in Web3 by integrating anime artwork in decentralized digital identities. 

On March 27, the companies announced a collaboration that targets global anime and manga fans to boost user engagement in Web3. 

With the partnership, Animoca’s digital identity infrastructure platform, Moca Network, will create an identity layer on the Soneium blockchain, starting with Anime ID, a decentralized identifier and reputation layer.

Anime ID is spearheaded by San FranTokyo, an initiative to integrate traditional anime and manga culture with decentralized technologies. 

Anime-themed experiences are coming to Web3

The partnership integrates Moca Network’s Account, Identity and Reputation Software Development Kit (AIR SDK) into the Soneium blockchain. This allows users to maintain embedded accounts with unique identities and credentials as they use different decentralized applications (DApps) on the network. 

San FranTokyo’s Anime ID will be the first to adopt the AIR SDK, enhancing anime fan engagement on Soneium. In addition, San FranTokyo will collaborate with Animoca Brands to launch anime-inspired cultural campaigns on Soneium to onboard anime fans to the Soneium blockchain and connect with new anime-themed experiences.

San FranTokyo head David Taing told Cointelegraph that Anime ID makes blockchain engagement feel “more natural” for anime and manga fans. Taing told Cointelegraph: 

“Currently, navigating the Web3 space can be overwhelming due to the need for multiple wallets, platforms and accounts. Anime ID simplifies this experience by offering fans one simple identity to use across all aspects of their fandom.”

Taing said the first initiative would be the Anime Art Festival on Soneium, which is designed to spotlight anime-focused intellectual properties, creators and Web3 projects. 

“We are excited to kick things off with the globally acclaimed Solo Leveling in collaboration with the Otherworld team,” Taing told Cointelegraph. 

Meanwhile, Moca Network project lead Kenneth Shek told Cointelegraph that anime is a “core part” of modern-day entertainment culture, and the partnership is just the beginning. 

“Starting with anime, we foresee many other entertainment-related applications to participate in the network, and further enrich the user-owned identity and data,” Shek added. 

Sony Block Solutions Labs (Sony BSL) launched the blockchain’s public testnet on Aug. 28, 2024. The layer-2 network aims to foster a fan community centered on creators who connect diverse values through the blockchain. 

On Jan. 14, the blockchain’s mainnet went live amid backlash from community members. Pump.fun’s Alon slammed the network for blacklisting specific memecoins and “nuking everyone’s position to 0.”

Related: Captain Tsubasa NFT soccer game debuts on Oasys blockchain

Ghibli-inspired memecoins flood the crypto market

On March 25, OpenAI launched image generation for its ChatGPT-4o mode. This was met with social media users generating images in the art style of Studio Ghibli, a company known for its anime films. Following the surge, a Ghibli-inspired memecoin reached a market capitalization of $20 million. Since then, at least 20 other Ghibli-related memecoins have been created in the market. 

While the news may be great for Web3 and anime fans, anime and crypto may not always work in favor of men seeking relationships. On Aug. 26, women ranked anime as the third-most unattractive hobby for a man, while crypto took the number two spot. 

Magazine: Azuki founder airdrops ANIME for a ‘billion global fans’: Zagabond, NFT Creator

A crypto whale who allegedly manipulated the prize of the Jelly my Jelly (JELLY) memecoin on decentralized exchange Hyperliquid still holds nearly $2 million worth of the token, according to blockchain analysts.

The unidentified whale made at least $6.26 million in profit by exploiting the liquidation parameters on Hyperliquid.

According to a postmortem report by blockchain intelligence firm Arkham, the whale opened three large trading positions within five minutes: two long positions worth $2.15 million and $1.9 million, and a $4.1 million short position that effectively offset the longs.

Source: Arkham

When the price of JELLY rose by 400%, the $4 million short position wasn’t immediately liquidated due to its size. Instead, it was absorbed into the Hyperliquidity Provider Vault (HLP), which is designed to liquidate large positions.

Related: Polymarket faces scrutiny over $7M Ukraine mineral deal bet

In more troubling revelations, the entity may still be holding nearly $2 million worth of the token’s supply, according to blockchain investigator ZachXBT.

“Five addresses linked to the entity who manipulated JELLY on Hyperliquid still hold ~10% of the JELLY supply on Solana ($1.9M+). All JELLY was purchased since March 22, 2025,” he wrote in a March 26 Telegram post.

The entity continues selling the tokens despite Hyperliquid freezing and delisting the memecoin, citing “evidence of suspicious market activity” involving trading instruments.

The JELLY token’s collapse is the latest in a series of memecoin scandals and insider schemes looking to capitalize on investor hype. 

Source: Bubblemaps

The exploit occurred only two weeks after a Wolf of Wall Street-inspired memecoin — launched by the Official Melania Meme (MELANIA) and Libra (LIBRA) token co-creator Hayden Davis — crashed over 99% after launching with an 80% insider supply.

WOLF/SOL, market cap, 1-hour chart. Source: Dexscreener

Related: Polymarket whale raises Trump odds, sparking manipulation concerns

Lessons from the JELLY memecoin meltdown: “Hype without fundamentals”

“The JELLY incident is a clear reminder that hype without fundamentals doesn’t last,” according to Alvin Kan, chief operating officer at Bitget Wallet.

“In DeFi, momentum can drive short-term attention, but it doesn’t build sustainable platforms,” Kan told Cointelegraph, adding:

“Projects built on speculation, not utility, will continue to get exposed — especially in a market where capital moves quickly and unforgivingly.”

While Hyperliquid’s response cushioned short-term damage, it raises further questions about decentralization, as similar interventions “blur the line between decentralized ethos and centralized control.”

The Hyper Foundation, Hyperliquid’s ecosystem nonprofit, will “automatically” reimburse most affected users for losses related to the incident, except the addresses belonging to the exploiter.

Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge