Web3🌗Wednesday Breakthrough: Major Crypto Moves, Exchange Disputes, and Market Expansions

The Web3 world never slows down — and today’s buzz is proof of that! From high-stakes exchange drama to big Bitcoin buys and global crypto expansions, the industry is heating up with bold moves and major announcements. OKX and Bybit are at odds over security claims, Metaplanet is doubling down on Bitcoin, Coinbase is breaking into the Indian market, and Binance is gearing up for new trading pairs. There’s a lot to unpack, and we’re here to keep you in the loop. Let’s dive into the latest Web3 headlines shaping the future of crypto and blockchain!

1. OKX calls out Bybit over hack claims

OKX has strongly denied claims that EU regulators are scrutinizing its role in the recent Bybit hack, calling the reports misleading. The exchange, which secured a MiCA license last month for EU compliance, stated that no investigation is underway. OKX also criticized Bybit’s security practices, blaming the hack on their vulnerabilities. Despite helping freeze stolen funds, OKX refuted allegations that its Web3 services were involved in laundering money. The exchange emphasized its commitment to strengthening industry security while rejecting misinformation. Meanwhile, Bybit has yet to comment on the situation, and reports of regulatory scrutiny remain unconfirmed.

OKX Claims Bybit Made Misleading Statements About Its Latest Hack

OKX denies EU scrutiny over its involvement in the Bybit hack, asserting the claims are misleading and based on Bybit’s security issues.

BeInCryptoLandon Manning

2. Metaplanet boosts Bitcoin holdings with $13.5M purchase

Japanese hotel company Metaplanet has made a bold move into the crypto space, acquiring 162 Bitcoin for $13.5 million at an average price of $83,123 per BTC. This purchase brings the company’s total holdings to 3,050 BTC, valued at $253.7 million, reflecting a 53.2% year-to-date yield. To finance further acquisitions, Metaplanet also issued zero-interest bonds worth 2 billion JPY ($13.5 million). Despite this aggressive Bitcoin strategy, the company’s stock has faced a sharp decline, currently trading at 3,630 yen — nearly 50% down from its all-time high in February. Metaplanet remains committed to expanding its digital asset portfolio.

Metaplanet Increases BTC Holdings With $13.5M Purchase and Bond Issuance

The Japanese hotel company has acquired more bitcoin and issues zero-interest bonds.

CoinDeskJames Van Straten

3. Coinbase gets the go-ahead for crypto trading in India

Coinbase is making a comeback in India after securing approval to offer digital asset trading, two years after exiting due to regulatory challenges. The exchange plans to launch its services later this year, aiming to tap into India’s thriving crypto market and unmatched developer community. With local regulators re-evaluating their stance on digital assets, India is becoming one of the most promising opportunities for global crypto firms. Coinbase also sees India as a hub for onchain development, with 12% of global developers based there, and hopes to empower local innovators with its trusted platform and Ethereum-based Layer-2 Base network.

Coinbase Receives Greenlight to Offer Crypto Trading in India - Decrypt

Coinbase received its approval about two years after it left the market due to regulatory issues, and amid encouraging signs in the country.

DecryptLiz Napolitano

4. Binance set to launch new trading pairs on March 13

Binance is expanding its spot trading options with new USDC-based pairs launching on March 13, including CVC/USDC, EURI/USDC, SYN/USDC, USDC/RON, and VELODROME/USDC. Trading begins at 08:00 UTC, along with support for Trading Bots. However, users from restricted regions like the US, Canada, and North Korea won’t have access. Following the announcement, tokens like CVC, SYN, and VELO saw price surges, breaking recent downward trends. CVC rose over 5%, SYN gained 5%, and VELO climbed 2.2%, while EURI saw a modest increase of 0.3%. This expansion signals Binance’s continued push to strengthen its global crypto trading offerings.

Binance prepares to launch trading pairs for CVC, SYN, and more on March 13

Binance is expanding its spot trading offerings with new USDC-based trading pairs for an array of tokens launching on March 13

crypto.newsTrisha Husada

As Web3 continues to evolve at lightning speed, today’s stories remind us just how dynamic and unpredictable this space can be. From OKX and Bybit’s clash to Metaplanet’s bold Bitcoin strategy and Coinbase’s expansion into India, the industry is making big moves. With Binance prepping for new trading pairs, the momentum shows no signs of slowing down. Stay tuned — the Web3 revolution is just getting started, and we’ll be here to keep you ahead of the curve.

WEB3 AI ML