Bitcoin

Central African Republic has adopted Bitcoin as a Reference Currency –

Following the confusion that surrounded initial reports, a senior staffer in the Central African Republic (CAR)’s presidency has now confirmed that bitcoin will become the country’s reference currency.

First Country in Africa to Officially Adopt Bitcoin

A statement purportedly issued by the Office of the Presidency in the Central African Republic (CAR), confirmed multiple media reports that suggested that the bill passed at the National Assembly would not only govern cryptocurrency but also recognize bitcoin as a currency of reference.

In a statement posted on Facebook, Obed Namsio, the chief of staff, said President Faustin Archange Touadera’s government will support all necessary efforts that allow the country to “carry out this approach that places the Central Africa Republic on the map of the most courageous and visionary countries in the world.”

Namsio stated that the CAR was the first African country to adopt bitcoin as its reference currency. Namsio praised the move by saying:

We are going on a new path that will mark a new milestone for our country while being aware of the difficulties we will have to face to continue our mission.

The statement of the chief of staff appeared to contradict a Bloomberg report that suggested the bill had been passed but not far enough to create a cryptocurrency regulator.

Conflicting Reports

In the report, Herve Ndoba, the minister in charge of finance and budget, is quoted insisting the CAR is not about to follow in the footsteps of El Salvador, which became the first country to introduce bitcoin as legal tender. Minister says that the legislation proposed does not seek to create a regulatory framework.

Central African Republic Has Adopted Bitcoin as Reference Currency — Office of the Presidency While the release of the French language statement is expected to end the confusion which followed the initial report which said the country had adopted bitcoin, Useful Tulips’ peer-to-peer bitcoin volume data starting in 2020 suggests interest in the crypto had been growing. In fact, by the end of September 2021, the CAR had, according to the data, become the country with the fifth-highest P2P volumes in Africa.

Bitcoin ‘Undefeated’

The news and Namsio’s apparent confirmation that CAR has made its decision have been a delight to crypto players. In comments shared with Bitcoin.com News, Christos Krokides of ARK36, a crypto hedge fund, said:

“Bitcoin adoption is not affected by financial or geopolitical issues. The Central African Republic (CAR), a country that adopted bitcoin as a legal tender, is taking another important step towards a global digital transformation. This initiative will completely transform the CAR’s digital infrastructure, which is now considered underdeveloped, by applying the blockchain technological innovation necessary for the project’s implementation.”

Ransu Salaovaara, CEO of Likvidi said that “bitcoin will get bigger and more stable” and that this will accelerate the government-level adaptation .”

However, other experts such as Anthony Oduu (co-founder and CTO of cross-border payment platform Verto) said that a wider adoption will depend on how the country develops its infrastructure.

“Countrywide adoption is dependent on the infrastructure’s performance and the attitudes of locals towards the currency. The Central African Republic doesn’t have the best telecommunications infrastructure and digital infrastructure. In 2021, internet penetration was around 10% and mobile connections were available to just 30% of the population.”

According to Oduu the CAR must invest heavily in infrastructure to make digital currencies available to all citizens.

What are your thoughts on this story? Let us know what you think about this story in the comments below.

Terence Zimwara

Terence Zimwara, a Zimbabwean journalist, author and writer who has been awarded the Zimbabwe Booker Prize. He has written extensively on the economic problems of certain African countries and how digital currencies can offer an escape route.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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Hyperliquid 50x leverage whale is cybercriminal gambling stolen funds: ZachXBT

ZachXBT has blasted the “Hyperliquid 50x leverage whale” as “a cybercriminal gambling with stolen funds.” The whale netted a $9 million profit despite efforts by crypto traders to liquidate the position. ZachXBT has previously unmasked bad actors and identified hackers, including those behind the Bybit hack in February 2025 On-chain investigator ZachXBT says the “Hyperliquid…

ZachXBT has blasted the “Hyperliquid 50x leverage whale” as “a cybercriminal gambling with stolen funds.”
The whale netted a $9 million profit despite efforts by crypto traders to liquidate the position.
ZachXBT has previously unmasked bad actors and identified hackers, including those behind the Bybit hack in February 2025

On-chain investigator ZachXBT says the “Hyperliquid 50x leverage whale” that has attracted massive attention across X is “just a cybercriminal gambling with stolen funds.”

The on-chain sleuth’s comment came as the whale closed their high-leverage trading position, 50x, with a notable $9 million profit.

Despite efforts by crypto Twitter to marshal a liquidation for the Hyperliquid whale, the trader emerged unscathed – yet again.

Hyperliquid 50x whale a criminal – ZachXBT says

ZachXBT commented on this, revealing who the whale is and is not. He shared the investigative view via X:

“It’s funny watching CT speculate on the “Hyperliquid whale” when in reality it’s just a cybercriminal gambling with stolen funds.”

Replying to a user comment, ZachXBT noted that the criminal whale has no links to the North Korea-backed Lazarus Group. In February this year, the blockchain sleuth linked the $1.5 billion Bybit hack to the hacker group.

Some X users asked that ZachXBT names and shames the Hyperliquid whale. However, his response was:

“We’ll see, it’s just not enjoyable posting investigations on X/Twitter anymore.”

Crypto ‘hunted’ for the mysterious whale

For weeks, the crypto market has speculated on who the mysterious Hyperliquid whale may be. A hunt for their identity and efforts to drag them down surfaced.

This hunt for the trader who opened a short position worth about $450 million on Bitcoin (BTC) intensified on Tuesday.

Amid the rush to liquidate him, analysts pointed to the whale’s 40x and 50x shorting of BTC and ETH as massive. The reaction had most traders looking to wreck the whale’s position with a flurry of buying deals. In fact, according to Lookonchain, the whale had to deposit $5 million USDC “to increase margin and avoid liquidation.”

But the effort to wreck the whale ultimately failed.

This whale has closed all his positions and made a profit of $9.46M in just 8 days.https://t.co/EtI4kinRNE pic.twitter.com/TPxf6MIIqR

— Lookonchain (@lookonchain) March 18, 2025

As well as th 50x short leveraged position on Ethereum (ETH), this whale also shorted Chainlink (LINK), opening a huge $31 million position with 10x leverage. The whale has also placed short bids on GMX.

While ZachXBT clarified this whale isn’t tied to North Korea, the incident highlights the challenge the crypto community faces amid bad actor incidents.

The issue of stolen funds making it back into circulation via decentralized finance protocols remains. It also points to the overall impact of massive leverage on the market, particularly when criminals tap into high-leverage trades to gamble stolen funds.

Although this particular whale’s identity may interest the broader ecosystem, the big question going forward is how does crypto reign in this potentially impactful scenario.

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Paul Atkins SEC chair confirmation faces delay with Senate due to paperwork issues

A March 27 meeting is being considered for a committee hearing on the selection of incoming SEC chair Paul Atkins US President Donald Trump selected Atkins in December following his presidential election win Atkins previously served as an SEC Commissioner from 2002 and 2008 under former President George W. Bush The confirmation of Paul Atkins…

Donald Trump selects pro-crypto Paul Atkins to the next US SEC chair

A March 27 meeting is being considered for a committee hearing on the selection of incoming SEC chair Paul Atkins
US President Donald Trump selected Atkins in December following his presidential election win
Atkins previously served as an SEC Commissioner from 2002 and 2008 under former President George W. Bush

The confirmation of Paul Atkins as the next US Securities and Exchange Commission (SEC) chair is being delayed due to the submission of paperwork.

That’s according to Eleanor Mueller, Semafor’s Congress reporter, who posted on X. She wrote:

“Senate Banking Chair Tim Scott is eyeing March 27 for a committee hearing on Trump’s nominee to chair the SEC, Paul Atkins, I’m told. As I wrote earlier this month, the committee has been waiting for the White House to send over his paperwork.”

Scooplet: Senate Banking Chair Tim Scott is eyeing March 27 for a committee hearing on Trump’s nominee to chair the SEC, Paul Atkins, I’m told.

As I wrote earlier this month, the committee has been waiting for the White House to send over his paperwork: https://t.co/2sDebKDIAI

— Eleanor Mueller (@Eleanor_Mueller) March 17, 2025

US President Donald Trump selected Atkins to be the next SEC chair in December. This is a significant selection for Trump, as Atkins is considered a pro-crypto figure in the industry. During his election, Trump promised to reshape the regulatory landscape for digital finance and clarify cryptocurrency rules.

Mueller continued that the Senate banking committee is also planning to hold a bipartisan meeting on Friday, March 21, to discuss Atkins’ nomination.

Financial disclosure

This latest development follows from a March 3 report from Semafor. In it, Mueller detailed how the White House hadn’t produced the required paperwork to schedule a confirmation hearing for Atkins. This also included his financial disclosure given the fact that he married into a billionaire family.

In 1990, Atkins married Sarah Humphreys Atkins, whose family is linked to Tamko Building Products, a company that manufactures roofing shingles in the US. Last year, it made $1.2 billion in revenue, according to a December report from Forbes.

One former Senate Banking Committee member said: “It’s a lot to go through. But he got named so early on, so I think that’s why people are starting to be like, ‘What the hell’s taking so long?”

Atkins previously served as an SEC Commissioner between 2002 and 2008 under former President George W. Bush.

While the agency awaits the confirmation of Atkins, Mark Uyeda is the acting chair. In January, Uyeda created a new crypto task force designed to establish a clear regulatory framework for the industry.

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Metaplanet Inc. (3350.T) Stocks: Soar 12% as Bitcoin Holdings Near 8,000 BTC Milestone

TLDR

Metaplanet shares jumped 12% after buying 1,004 BTC.
The company now holds 7,800 BTC worth $712.5 million.
Metaplanet’s BTC holdings are higher than El Salvador’s.
BTC Yield hit 47.8%, showing strong treasury growth.
Bond sales and share issuance funded Bitcoin purchases.

Metaplanet Inc. shares surged 12% on the Tokyo Stock Exchange after the firm confirmed a major Bitcoin acquisition. The company revealed it purchased 1,004 BTC, increasing its total holdings to 7,800 BTC. This move lifted investor sentiment and drove the stock to its highest since February 2025.

Metaplanet Inc. (3350.T)

Bitcoin Accumulation Lifts Investor Confidence

Metaplanet’s latest purchase amounted to $104 million, with each Bitcoin acquired at an average of $97,182. Consequently, the total value of its Bitcoin treasury has now reached approximately $712.5 million. The sharp price rise came as Bitcoin crossed the $100,000 mark amid growing optimism in global financial markets.

Besides the recent acquisition, Metaplanet had earlier surpassed El Salvador’s Bitcoin holdings with a separate 1,241 BTC buy. The company bought those coins at $101,843 each, totaling nearly $129 million in value. This positioned the Tokyo-listed firm ahead of the Central American nation, which holds 6,714 BTC.

The company’s strategy to build its reserves appears deliberate and structured. CEO Simon Gerovich has stated the company’s target is to reach 10,000 BTC by year-end 2025. So far, Metaplanet has achieved 78% of this goal, indicating steady progress in line with its stated plans.

BTC Yield Growth Signals Positive Treasury Performance

The firm tracks its Bitcoin Treasury Operations using specific key indicators like BTC Yield and BTC Gain. BTC Yield reflects the percentage growth of Bitcoin held per fully diluted share over each quarter. The firm reported a BTC Yield of 47.8% from April 1 to May 19, 2025.

*Metaplanet Acquires Additional 1,004 $BTC pic.twitter.com/r86rLc7ngh

— Metaplanet Inc. (@Metaplanet_JP) May 19, 2025

Earlier, Metaplanet recorded a BTC Yield of 95.6% in Q1 2025 and 309.8% in Q4 2024. These gains help evaluate the growth in Bitcoin holdings independent of share dilution. Moreover, BTC ¥ Gain converts these results into local currency to show clearer financial impact for shareholders.

Metaplanet has used these metrics to show the effectiveness of its Bitcoin strategy. BTC Gain helps isolate real growth, while BTC ¥ Gain translates that into yen terms. This system supports transparency and aligns with U.S.-style capital market disclosures.

Capital Markets Activity Expands with New Share Issuance

To support its Bitcoin purchases, Metaplanet completed several capital market moves. On May 13, the firm issued $15 million in zero-coupon bonds to EVO FUND, maturing in November 2025. The proceeds funded early redemptions of prior bond series.

Additionally, the company completed early repayments for $25 million and $21.25 million bonds issued earlier in May. These redemptions were financed through exercised stock acquisition rights. The moves ensured that the firm maintained balance sheet flexibility while expanding its crypto reserves.

Between May 1 and May 16, the firm issued over 94 million new shares through exercised acquisition rights. The total number of issued shares stood at 593.2 million as of May 16. This expansion allowed the company to keep up with its aggressive Bitcoin treasury strategy.

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Yasmin Werner

Yasmin is a crypto content analyst and writer with over 2 years of experience. She has a strong understanding of the crypto market and blockchain technologies. As an avid trader who stays updated on the latest trends and news, Yasmin delivers insightful and informative content.