I just saw that Bitcoin Depot suffered a pretty serious hack in March – they lost nearly 3.7 million in BTC. Basically, the attackers managed to access their internal systems on March 23 and stole 50.9 bitcoins from the company's wallets. They say customer security was not compromised, but it’s still concerning to see these things happen. They activated emergency protocols and the investigation is ongoing.

While this was happening, the Ethereum Foundation decided to sell 5,000 ETH in stablecoins to fund research and scholarships. They sold 3,750 ETH for approximately $8.3 million, which caused ETH to drop to $2,179 that day. It’s now at $2.33K, so it recovered a bit, although it remains volatile.

The interesting part is that while all this was happening, activity in Wrapped Ethereum (WETH) surged – 32,000 new wallets were created in a single day, 16 times more than usual. It seems there’s quite a bit of movement beneath the surface despite the volatility.

Now Canary Capital is requesting a spot ETF for PEPE from the SEC, so institutional interest continues to expand into more speculative tokens. The fund would hold up to 5% in ETH for costs. PEPE is at $0.00000346 with mixed market changes. What’s curious is that the top 10 wallets control 41% of the supply, so there’s quite a bit of concentration risk. This makes me think about how regulators view these new ETFs – first the Bitcoin spot ETF, which was a big step, now meme tokens.

On the other hand, Michael Saylor and Adam Back came out to reject the NYT report suggesting Back could be Satoshi. Saylor argued that style analysis is not enough as proof, and Back clarified that he was simply an early user interested in cryptography since the 90s. Without a verified cryptographic signature, no one can confirm anything about Satoshi’s identity. It’s the same old debate.