Last Week in Web3: U.S. Political Tensions, Crypto's Biggest-Ever M&A Deal, and a Shocking Fake-Death Scandal
Last week, the Web3 world stayed red-hot with a string of major developments: crypto policy tensions in the U.S., an M&A boom, and a jaw-dropping "faked death" scandal from a Web3 founder. 1. U.S. Crypto Policy: Democrats Walk Out Amid Trump-Biden Tensions An unexpected twist hit the U.S. Congress as Democrats abruptly pulled out of stablecoin regulation negotiations. The move came as former President Donal
Last week, the Web3 world stayed red-hot with a string of major developments: crypto policy tensions in the U.S., an M&A boom, and a jaw-dropping "faked death" scandal from a Web3 founder.
1. U.S. Crypto Policy: Democrats Walk Out Amid Trump-Biden Tensions
An unexpected twist hit the U.S. Congress as Democrats abruptly pulled out of stablecoin regulation negotiations. The move came as former President Donald Trump signaled a pro-crypto stance, even opening his campaign to donations in digital assets.
Markets responded with a surge of optimism: Bitcoin broke the $100,000 mark for the first time, Ethereum climbed more than 20% following the Dencun upgrade, and Trump's campaign trail generated a wave of positive sentiment across the space.
2. M&A Heats Up: Coinbase Acquires Deribit for $2.9 Billion
After a prolonged lull, deal-making in the crypto industry is roaring back. Even as venture capital funding into crypto fell 70% last quarter, Coinbase sent shockwaves through the market by announcing its acquisition of derivatives exchange Deribit for $2.9 billion — the largest M&A deal in crypto history to date.
The move signals a new wave of consolidation, as major players move to entrench their positions in an increasingly institutionalized market.
3. Hong Kong Brokerage Meets Web3: Futu Now Accepts BTC, ETH, USDT Deposits
Futu Securities, a Hong Kong brokerage under the Tencent group, has officially enabled users to fund their accounts with BTC, ETH, and USDT for stock trading. This marks a significant step toward integrating digital assets with traditional financial infrastructure, particularly across Asia.
The move reflects a growing openness among legacy financial institutions to embrace the Web3 market.
4. The Controversial Trump Dinner: Is TRUMP Token Buying Political Access?
A highly controversial promotional campaign made headlines: holders of the TRUMP meme coin were invited to a private dinner with former President Donald Trump. However, on-chain data revealed that more than 75% of wallets holding the token belong to addresses outside the U.S., raising serious concerns about potential violations of American campaign finance law.
Is this a marketing stunt, or the first step toward using Web3 assets to buy political influence?
5. The Fake-Death Drama: Zerebro Co-Founder Accused of Staging His Own Death
The Web3 community was rocked when Jeffy Yu, co-founder of Zerebro Protocol, was accused of staging a fake "suicide" to generate attention and fuel a media narrative around the project. The incident has left much of the community confused and questioning the ethics — and the sheer degree of media manipulation — possible in this industry.
This may be the first-ever "fake your death to pump the token" scheme in crypto history.
Takeaway:
From policy upheaval in the U.S. to Hong Kong's financialization of Web3, and from jaw-dropping PR stunts to billion-dollar deals — last week made clear that Web3 is still a wild frontier packed with both opportunity and risk. As political cycles and market cycles converge, participants need to stay clear-eyed about the upside potential and the very real dangers lurking beneath the surface.