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Today's Top Crypto Headlines:
TikTok Blockchain Takeover | Bybit Seeks DAO Refund | Bitcoin $94K Resistance | Ethereum Upgrade Delayed? and more...
King Fatrick Gil Añasco
March 06, 2025
Good Morning Crypto Enthusiasts!
Glad to have you back for another edition of the UseTheBitcoin.com newsletter.
TikTok Blockchain Takeover: Reddit co-founder Alexis Ohanian backs Project Liberty’s bid to acquire TikTok U.S., aiming to integrate blockchain for user data ownership and decentralization.
Bybit Seeks DAO Refund: Bybit requests ParaSwap DAO return $100K in stolen funds linked to Lazarus Group, sparking debate over reversing transactions and setting a risky precedent.
Bitcoin Faces $94K Barrier: Bitcoin struggles to break $94K resistance, with volatility expected. Upcoming CPI data and Fed rate decisions could impact price movements.
💡Feature of the Day - Ethereum Upgrade Delayed?: Ethereum’s Pectra upgrade launches on Sepolia but faces potential mainnet delays due to Holesky testnet issues, impacting staking and Layer-2 scalability.
All this and more in today’s headlines!
📰 News Highlights:
Reddit co-founder Alexis Ohanian confirmed his role in Project Liberty’s bid to acquire TikTok’s U.S. operations, aiming to decentralize the platform using blockchain technology.
Exciting news for the digital world...
I'm officially now one of the people trying to buy TikTok US — and bring it on-chain.
TikTok has been a game-changer for creators, and it's future should be built by them↓
— Alexis Ohanian 🗽 (@alexisohanian)
7:00 PM • Mar 4, 2025
The initiative, led by Project Liberty founder Frank McCourt, seeks to give users ownership of their data and creators more control over their audiences.
is one of the top humans on the planet when it comes to shaping the future of social, and we're massively excited to have him join The People's Bid for TikTok and @pro_jectliberty's efforts to bring the platform on chain. 🗽🗽🗽
— Tomicah Tillemann 🗽 (@TomicahTD)
6:41 PM • Mar 3, 2025
The plan involves integrating TikTok with "Frequency," a decentralized network protocol built on Polkadot.
Users should own their data.
Creators should own their audience.
Period.
Frequency will empower these principles to become reality. And with transparency and accountability at the core, this new TikTok won’t just be fairer—it’ll be GREATER.
— Alexis Ohanian 🗽 (@alexisohanian)
7:00 PM • Mar 4, 2025
Ohanian, a longtime blockchain advocate, emphasized that TikTok’s future should be shaped by its creators and pledged to prioritize transparency and user empowerment.
I’ve spent my career betting on the future—starting with @Reddit, then with @sevensevensix, and now, this.
We're setting a new standard for what’s possible in digital communities. A TikTok for the people, by the people. Let's see if we can pull this off.
— Alexis Ohanian 🗽 (@alexisohanian)
7:00 PM • Mar 4, 2025
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Bybit has requested ParaSwap’s DAO to return fees earned from transactions conducted by the Lazarus Group using stolen funds.
The proposal, posted on March 4, seeks to recover 44.67 wETH (nearly $100,000), sparking debate within the DAO.
Verification of Proposal Authenticity 🤝 @paraswap
We hear the DAO community’s concerns and want to reassure you — this proposal is legitimate and comes directly from Bybit.
Check the proposal in detail here:
— Bybit (@Bybit_Official)
8:31 AM • Mar 5, 2025
Some members support a conditional return, while others argue against setting a precedent for reversing transactions.
Bybit asked to return 44.67 ETH from the Paraswap DAO that Bybit hacker paid in SWAP FEES.
This decision has ethical and legal responsibilities against the DAO and sets a precedent for the wider DeFi ecosystem (notably Thorswap).
I'm a Paraswap DAO delegate but still split on… x.com/i/web/status/1…
— Ignas | DeFi (@DefiIgnas)
10:17 AM • Mar 4, 2025
Critics warn that compliance could undermine the principle of "code is law" and lead to future refund demands.
What should a DAO do when it receives funds from illicit sources?
This is the situation currently unfolding in @paraswap DAO following the @Bybit_Official hack.
🧵 A thread.
— SEED Gov (@SEEDGov)
10:01 PM • Mar 3, 2025
The debate extends to ThorSwap, which hackers used to launder additional funds, potentially opening the door for further refund claims.
Bitcoin faces strong resistance at $94,000, with analysts predicting continued volatility.
Bitfinex’s March 3 report highlights selling pressure after Bitcoin's brief surge from $85,000 to $95,000 following former President Donald Trump's crypto-related announcement.
#BTC
Bitcoin performed a remarkable technical feat to perform such an outsized downside deviation but still Weekly Close inside its ReAccumulation range
In fact, history suggests the bottom may very well be in on this downside deviation
Going forward, Bitcoin will try to… x.com/i/web/status/1…
— Rekt Capital (@rektcapital)
1:00 PM • Mar 3, 2025
Despite the initial spike, Bitcoin fell below $94,000 and struggles to reclaim that level.
A good sign, everything was bought up at $81K, just like at $78K.
— Axel 💎🙌 Adler Jr (@AxelAdlerJr)
7:59 PM • Mar 4, 2025
Analysts suggest that price fluctuations will persist until strong buyers—not just short-term traders—enter the market.
Basically, #Bitcoin rejected at the resistance at $95K and is back chopping around.
All liquidity on both sides have been taken.
What to expect?
Honestly, I think we'll need to wait until this week is over as there's a lot of macro-economic data & events and the Summit.
— Michaël van de Poppe (@CryptoMichNL)
9:11 AM • Mar 4, 2025
💡 Feature of the Day:
Ethereum’s Pectra upgrade successfully launched on the Sepolia testnet but may face mainnet delays due to issues on the Holesky testnet.
The upgrade, which enhances Ether staking and Layer-2 scalability, went live on Sepolia on March 5.
Sepolia has successfully upgraded to Pectra 🚀
(Hope I don't jinx it this time)
— terence (@terencechain)
7:31 AM • Mar 5, 2025
However, developers are still troubleshooting Holesky’s failed activation on February 24, which could postpone the mainnet release.
Pectra Testnet Update 📣
On Monday, Pectra activated on Holesky. An EL bug caused chain splits, resulting in a minority chain being valid, degrading the network health.
Holesky validators must take action ASAP, some Sepolia users must upgrade their client. All info below 👇 x.com/i/web/status/1…
— timbeiko.eth (@TimBeiko)
9:10 PM • Feb 27, 2025
Pectra is expected to boost institutional interest in Ethereum staking, potentially paving the way for the first staked Ether ETF.
😂 Crypto Meme of the Day:
Meme of the day provided by @upay
And that’s it for this today.
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See you all tomorrow’s edition!
Jonathan Gibson
UseTheBitcoin.com