Scaramucci Warns of Corruption Risks From Trump's Crypto Projects, Urges Bipartisan Commitment to Bitcoin Reserves

MARA, a publicly traded Bitcoin miner, has reduced its workforce by 15% following the sale of $1.1 billion in Bitcoin. The company is shifting focus towards energy and digital infrastructure, necessitating the strategic decision to downsize its team.

Dmail Network, a decentralized email platform operational for five years, will gradually cease services starting May 15 due to high decentralized infrastructure costs and failed monetization attempts. The team struggled with user growth expenses and unsuccessful token economics, leading to shutdown.

Todd Blanche, the new head of the Department of Justice, has a history of pro-industry reforms and crypto investments. Under his leadership, U.S. attorneys have pursued cases against crypto developers, causing concern among privacy advocates. Blanche's past actions include disbanding the office's crypto enforcement team and easing regulations on exchanges.

Drift, a Solana-based decentralized exchange, identified wallets holding stolen crypto and attempted on-chain negotiations with the attackers. Security experts suspect North Korean involvement in the $285 million exploit, while Drift plans to share updates once third-party attributions are complete.

Bitcoin experienced its worst quarterly performance since early 2018, dropping 22% year-to-date due to war, tariffs, and a hawkish Federal Reserve. Despite holding up better than equities and gold, Bitcoin remains range-bound with low whale transfers and cautious investors.

Riot Blockchain sold over $250 million worth of Bitcoin in Q1, reducing its holdings to 15,680 BTC valued at $1.04 billion. The company aims to fund AI ventures with proceeds from Bitcoin sales, following a trend among miners transitioning to AI. An activist investor highlighted the potential $21 billion boost in valuation from seizing the AI opportunity.

Binance faces scrutiny from US Senator Blumenthal over potential misleading information provided to Congress regarding transactions with Iranian entities. The Senator demands documents justifying Binance's claims of limited transactions with Iran, following reports of significant flows to Iran-linked accounts.

The Ethereum Foundation has staked over 45,000 ETH, nearing its 70,000 ETH target, with a total staked position of 69,500 ETH valued at $143 million. This move aligns with the Foundation's treasury strategy, aiming to earn between $3.9 million to $5.4 million annually through staking rewards.

Cambodia has passed a draft law imposing severe penalties on online scam operations involving crypto, aiming to eradicate scam centers by April. The legislation introduces prison terms up to life for fraud network leaders, with lower-level scammers facing up to five years in jail and fines.

Algorand's recent rally, driven by a Google research paper praising its post-quantum protocols, saw a 44% increase in the past week. The paper highlighted Algorand's use of Falcon digital signatures for quantum resistance, sparking market interest in quantum security.