TRUMP Token, Tornado Cash, and a Solo Miner Victory

The TRUMP memecoin, associated with US President Donald Trump, surged by 12% to $12.25 shortly after the president described it as “the greatest of all time” on social media. By 3:11 am UTC, it added nearly $250 million to its market cap of $2.5 billion before dropping to $11.38 about 90 minutes later. Despite being the 53rd largest coin by market cap, it became the eighth most-traded token within 24 hours, with a trading volume of $1.4 billion. However, one investor lost $207,000 from a recent trade.

In another development, a lesser-known crypto developer named “GUNBOATs” has launched Tornado Cash on the MegaETH testnet, an Ethereum layer 2 blockchain aimed at enhancing scalability. This launch followed the US Treasury’s decision to remove Tornado Cash from its sanctions list on March 21.

Additionally, a solo Bitcoin miner, using a machine with less than one terahash per second, solved a blockchain block and received a reward of $266,552. This miner earned a total of 3.15 BTC for solving block 888,989, which occurred on March 23.

Lastly, while the International Monetary Fund (IMF) mentioned Bitcoin in its recent manual, it did not classify it as “digital gold,” contrary to some claims from the crypto community. The IMF discussed Bitcoin as a “medium of exchange” and distinguished various types of crypto assets.