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Indian Police Arrest GainBitcoin Ponzi Scheme Suspect at Mumbai Airport

2 hours ago

On March 12, India’s Central Bureau of Investigation (CBI) arrested Ayush Varshney—co-founder and chief technology officer (CTO) of Darwin Labs—at Mumbai Airport as he allegedly tried to leave the country, over his purported role in the notorious GainBitcoin Ponzi scheme. Probes uncovered the scam was run by Variabletech Pte. Ltd., which lured investors with promises of sky-high returns on crypto investments. Law enforcement accused Darwin Labs of building and deploying core technological infrastructure for the scheme—including the MCAP crypto token and ERC-20 smart contracts. Darwin also provided technical support for several fraud-linked platforms: GBMiners.com (a Bitcoin mining site), a Bitcoin payment gateway, the CoinE Bank Bitcoin wallet, and the GainBitcoin investment website—all used to entice and defraud investors. Media reports say the scheme launched in 2015 and operated across multiple Indian states. It’s estimated to involve roughly 1.9 billion Indian rupees (around $2.1 million) in funds and 29,000 bitcoins—whose current value tops $2 billion.
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Thanks to the Binance airdrop event, the circulating supply of USD1 has increased to 4.6 billion dollars, with 87% remaining on the Binance platform.

As of March 12, data from Ashes Monitor reveals: In January, when USD1 was set to airdrop on Binance, its total minted supply stood at $3.1 billion. That figure has since climbed to $4.6 billion, marking a $1.5 billion increase. Binance’s Proof of Reserves (PoR) shows the exchange holds 4 billion USD1. This translates to 87% of all USD1 in circulation earning interest on Binance.

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The main development branch of the Bitcoin Core client has merged the Cluster Mempool update.

On March 12, the main development branch of the Bitcoin Core client merged the Cluster Mempool update (PR #34616), which is expected to be included in a future Bitcoin Core 31.0 release. This upgrade will redesign how nodes manage the mempool—grouping related transactions for processing to boost block packing efficiency and optimize fee calculation for RBF (Replace-By-Fee) and CPFP (Child-Pays-For-Parent) transactions. Bitcoin Core 31.0 is projected to launch in the second half of 2026. (Source: CriptoNoticias)

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Ondo Finance multi-signature wallet transfers another 10 million ONDO to Coinbase

March 12 — Per CypherTrace data, half a month after Ondo Finance’s multi-signature wallet sent 24.475 million ONDO (valued at $6.12 million) to Coinbase, the wallet transferred another 10 million ONDO ($2.58 million) to the exchange early this morning.

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Bittensor Infrastructure Startup General Tensor Completes $5M Fundraising

On March 12, The Block reported that Bittensor infrastructure startup General Tensor has closed an oversubscribed seed and pre-seed funding round totaling $5 million. The seed round was led by Good Morning Holdings, while the December 2024 pre-seed round was led by Lvna Capital, with participation from DCG, X Ventures, Proof of Talk, Outliers Fund, and other backers. Founded in early 2024, General Tensor focuses on building and operating mining, validation, and subnet infrastructure for Bittensor—a decentralized AI network.

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Due to Geopolitical Tensions, Dubai Stablecoin Demand Surges, with USDC Minting Over 2.3 Billion in the Past Week

March 12 — Local sources in the UAE, citing @rami_hashimi, report that geopolitical tensions have driven a surge in demand for stablecoins in Dubai, with over-the-counter (OTC) desks seeing heavy foot traffic from those inquiring about USDC. The source noted that inefficiencies in regional bank wire transfers have prompted large sums of capital to shift to on-chain transactions. DefiLlama data further shows USDC’s supply has jumped 3.03% over the past week, equivalent to roughly $23.6 billion.

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Viewpoint: Bitcoin's current support level is at $62,791, with a resistance level at $71,840

March 12: Per analyst @alicharts, Bitcoin’s current support level is $62,791, with resistance at $71,840. A clear breakout in either direction will determine the next trend.

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