Main › Blog › New Digest › Bitcoin breaks $73K as US-Iran tensions cool off. ZachXBT accuses Axiom staffer of insider trading
Bitcoin breaks $73K as US-Iran tensions cool off. ZachXBT accuses Axiom staffer of insider trading
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What a comeback week we’ve seen! First, the market FUD and despair, and then BTC rebounded, bringing a light of hope. Let’s explore what occurred in the crypto industry over the past seven days:
quick weekly news
Bitcoin breaks $73K as US-Iran tensions cool and ETFs rake in $155M
Bitcoin traded around $72,500 on Thursday, according to goodcryptoX market data, as U.S. spot Bitcoin ETFs recorded $155M in net inflows on Wednesday. The continued institutional buying has helped support prices after several weeks of relatively slow market activity.
Over the past two weeks, total ETF allocations have reached roughly $1.47B, based on data from SoSoValue, signaling a strong reversal after earlier outflows this year. Since Feb. 24, investors have added about $1.7B to U.S. spot Bitcoin ETFs, suggesting confidence may be returning and that the market could be forming a short-term bottom. According to CoinDesk, the market is increasingly reassessing Bitcoin as a geopolitical hedge rather than just a risk asset. “The market is increasingly repricing Bitcoin as a geopolitical hedge, not just a risk asset,” said Livio Weng, CEO of Bitfire. “Unlike gold, Bitcoin trades 24/7 and can move across borders instantly, making it a natural pressure valve for capital during periods of geopolitical tension.”Source:goodcryptoX
Blockchain investigator ZachXBT has accused a senior employee at on-chain trading platform Axiom Exchange of misusing internal tools to access sensitive user data and track private crypto wallets. According to the allegations, the employee could view linked wallet addresses and monitor traders’ activity through internal dashboards, raising concerns about potential insider trading.
The individual named in the investigation, senior business development employee Broox Bauer, allegedly shared private wallet data with a small group that mapped the trading behavior of prominent crypto influencers. The data reportedly included connected wallet addresses and registration details sourced from Axiom’s internal systems, allowing the group to track the accumulation of memecoins before they were publicly promoted.
Axiom said it was “shocked and disappointed” by the claims and confirmed that access to the internal customer support tools involved has been revoked. The company stated it is conducting an internal investigation and pledged to hold responsible parties accountable if the allegations are confirmed. The investigation drew significant attention across the crypto industry and was widely anticipated before the details emerged. At one point, the speculation became so intense that traders even launched prediction markets on Polymarket to bet on which company would be implicated in the probe.
While ZachXBT traced several wallets believed to be connected to the activity, he noted that on-chain data alone cannot conclusively prove insider trading without access to Axiom’s internal logs.
Kraken becomes the first crypto firm to get direct access to the Federal Reserve
Kraken has made history as the first cryptocurrency company to obtain a Federal Reserve “master account,” giving its banking arm, Kraken Financial, direct access to the Fed’s core payment networks. This enables the firm to process payments through Fedwire on its own, potentially accelerating deposits and withdrawals for institutional clients and high-volume traders.
Until now, Kraken had to route U.S. dollar transactions through partner banks. Although the master account provides direct access, it comes with limitations: the firm won’t earn interest on reserves or have access to the Fed’s emergency lending programs.
U.S. Senator Cynthia Lummis described the approval as a “watershed moment” for the crypto industry, noting that it demonstrates how digital asset firms can innovate while maintaining strong risk controls. Wyoming officials also praised the development, highlighting the state’s favorable banking and crypto regulations.
The move fits into Kraken’s larger expansion plans, including acquisitions in token management and futures trading, entry into tokenized stocks, and preparation for a potential IPO.
Ethereum Foundation unveils bold new roadmap aiming for near-instant transaction finality by 2029
The Ethereum Foundation has released a long-term “strawmap” planning seven hard forks through 2029 to overhaul Ethereum. Key goals include cutting transaction finality from 16 minutes to as little as 8 seconds via a new Minimmit consensus and shortening block slot times to boost base-layer speed.
Throughput targets are also massive: Layer 1 aims for 10,000 TPS (“gigagas”) and Layer 2 networks up to 10 million TPS (“teragas”). The roadmap includes post-quantum cryptography and privacy features like shielded ETH transfers to protect user data.
Co-founder Vitalik Buterin likened the upgrades to a “ship of Theseus” rebuild, replacing consensus components gradually to improve the network without a single disruptive change.
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