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- Altseason 2025: Most Won’t Survive | Crypto Alpha Week 9 of 2025
Altseason 2025: Most Won’t Survive | Crypto Alpha Week 9 of 2025
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TL;DR
Strategy Buys $2B in Bitcoin, Expands Holdings
Three US Bitcoin Reserve Bills Fail Despite Trump’s Push
Adam Back Criticizes EVM After Bybit Hack
SEC Drops Case Against Consensys, Ends Ethereum Probe
SuperSol Launches Solana’s First Native L2
CME to Launch SOL Futures on March 17
Deutsche Telekom Joins Injective as Validator
Berachain Governance Phase One Goes Live
Off the Grid’s Biggest Update Yet
Avalanche Card Launches for Seamless Crypto Payments
SEC Ends Robinhood Crypto Probe
House Dems Launch MEME Act to Ban Political Tokens
And much more!
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Bitcoin Highlights of the Week
Strategy has acquired 20,356 BTC for $2 billion at an average price of $97,514, bringing its total holdings to 499,096 BTC, now worth over $47 billion. The purchase was funded through a $2 billion zero-coupon convertible note offering, with an option to issue an additional $300 million in notes.
With this latest acquisition, Strategy now controls 2.3% of Bitcoin’s total supply, maintaining a cumulative average purchase price of $66,357 per BTC. This move reinforces its long-term bullish stance on Bitcoin as a key corporate treasury asset.
Rezolve AI, a Nasdaq-listed AI firm, is building a $1 billion Bitcoin treasury, starting with $100 million. The initiative supports its AI-driven payment platform, allowing merchants to accept Bitcoin and Tether with instant fiat conversion and no merchant fees. CEO Daniel M. Wagner sees Bitcoin as essential to bridging traditional commerce and crypto.
Despite Bitcoin’s dip below $90,000, Rezolve AI remains committed to its long-term vision. The move follows a growing trend of corporations adopting Bitcoin as a hedge against inflation and economic uncertainty, aiming to reshape the future of digital payments.
Metaplanet and El Salvador added to their Bitcoin reserves before a 5% drop in BTC’s price on Feb. 25. Metaplanet purchased 135 BTC for $13 million at $96,185 per BTC, bringing its total to 2,225 BTC. El Salvador bought 7 BTC at around $94,050, increasing its holdings to 6,088 BTC.
Bitcoin fell below $91,000 before rebounding to $92,260, while crypto sentiment hit a five-month low. Meanwhile, spot Bitcoin ETFs saw $357.8 million in outflows, with Fidelity and BlackRock experiencing significant withdrawals. Despite market fluctuations, Metaplanet and El Salvador continue to see Bitcoin as a strategic asset.
Oklahoma is one step closer to becoming the first U.S. state to invest in Bitcoin as public funds. The Strategic Bitcoin Reserve Act (HB 1203) cleared the House Government Oversight Committee with a 12-2 vote and now moves to the House floor.
If passed, it would allow the state treasury to allocate up to 10% of public funds into digital assets with a market cap above $500 million—currently, only Bitcoin qualifies. Supporters argue Bitcoin can hedge against inflation, while critics cite volatility risks. A final House vote will determine whether Oklahoma cements its pro-Bitcoin stance.
Three state bills proposing Bitcoin reserves in Montana, North Dakota, and Wyoming were voted down, with lawmakers citing risks and speculation concerns. Montana’s bill lost 41-59, North Dakota’s was defeated 57-32, and Wyoming’s saw seven out of nine representatives oppose it.
Despite Trump’s pro-crypto stance, state-level Bitcoin reserve initiatives have struggled. However, Utah and Arizona are moving forward with similar proposals, with Utah’s nearing approval and Arizona’s bill allowing up to 10% of state funds in Bitcoin advancing. While Trump aims to make the US a crypto leader, state-level support remains inconsistent.
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Ethereum Highlights of the Week
The SEC has officially dismissed its case against Consensys, closing the MetaMask-related enforcement action. As part of the resolution, the SEC also halted its separate investigation into Ethereum, marking a regulatory shift in favor of blockchain developers.
Consensys praised the decision, citing a pro-innovation direction under new SEC leadership. With legal uncertainties lifted, the Ethereum ecosystem can now focus on development without immediate regulatory concerns. This outcome signals a changing approach to crypto regulation, potentially benefiting the broader industry.
Aya Miyaguchi is stepping down as Executive Director of the Ethereum Foundation to assume the role of President, focusing on institutional relationships and expanding the foundation’s vision. Vitalik Buterin confirmed a broader leadership restructuring as part of ongoing changes.
However, Miyaguchi has faced criticism from some in the Ethereum community over perceived shortcomings in addressing competitiveness and scaling challenges. Her new role aims to enhance Ethereum’s global influence while addressing these concerns. The leadership transition marks a pivotal moment for the foundation as it seeks to adapt to the evolving blockchain landscape.
The Ethereum Foundation has launched the “Silviculture Society,” an external advisory group focused on preserving Ethereum’s core values, including open-source development, privacy, security, and censorship resistance. The group consists of 15 researchers, developers, and project founders providing informal counsel.
The move follows Vitalik Buterin’s criticism of the industry's shift toward gambling and reinforces Ethereum’s commitment to its principles. Additionally, the foundation pledged $1.25 million toward the legal defense of Tornado Cash developer Alexey Pertsev, emphasizing that privacy is fundamental and coding should not be criminalized.
The Ethereum Foundation donated $1.25 million to support Tornado Cash developer Alexey Pertsev’s legal defense as he appeals his money laundering conviction in the Netherlands. Pertsev, arrested in 2022, was sentenced to over five years in prison for his role in the crypto mixer.
His attorney stressed the case’s significance for open-source developers. Ethereum co-founder Vitalik Buterin and Paradigm have also contributed to legal funds. The case raises concerns over privacy and regulatory pressure on blockchain developers, as Tornado Cash remains a focal point of global financial authorities.
Adam Back blamed Ethereum’s EVM for Bybit’s $1.4 billion hack, calling it “complex” and “unsecurable.” He argued that EVM vulnerabilities hurt the crypto industry’s credibility, but experts countered that multisig weaknesses and operational security failures were the real issues. Some noted that Bitcoin’s multisig setups also have risks.
Bybit has not confirmed whether EVM played a role, and Vitalik Buterin has not responded. The hacker, now among the largest ETH holders globally, surpassed Fidelity and Buterin. The debate highlights ongoing concerns about blockchain security across ecosystems.
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Solana Highlights of the Week
CME Group will introduce Solana (SOL) futures on March 17, pending regulatory approval. The contracts will be available in micro (25 SOL) and standard (500 SOL) sizes, catering to institutional demand. This launch coincides with recent spot Solana ETF filings from Franklin Templeton and Grayscale, signaling growing institutional interest.
Historically, the establishment of futures markets has preceded spot ETF approvals, increasing expectations for regulatory acceptance. As institutional adoption of Solana accelerates, this development strengthens its position in the crypto derivatives market.
SuperSol, co-founded by former Cardano executive Eva Oberholzer, introduces Solana’s first native L2 to tackle congestion and rising fees. Unlike traditional L2s, it integrates directly with Solana, maintaining liquidity and security. Its Evanescent Rollups activate only when needed, optimizing costs and efficiency for DeFi, gaming, and high-frequency apps.
Developers can seamlessly integrate SuperSol without modifying existing code. By leveraging Solana’s validator network, it ensures decentralization while enhancing scalability. As Solana adoption grows, SuperSol aims to futureproof the network, enabling faster, low-cost transactions without compromising performance or security.
Pump.fun’s memecoin launchpad is experiencing a sharp decline in token launches and graduations, signaling market fatigue. Daily launches have plummeted from a peak of 71,735 in January to 25,385 in February, while graduated tokens fell from 24,008 to 11,532.
The platform’s liquidity burn mechanism helps mitigate rug-pulls, but fading interest—despite celebrity-driven hype—has led to declining participation. The memecoin frenzy, once fueled by tokens linked to Trump and Milei, appears to be cooling as traders shift focus, reducing overall market enthusiasm.
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