Vladimir Smerkis, co-founder of Telegram-based crypto project Blum, has been arrested in Moscow on suspicion of large-scale fraud. The Zamoskvoretsky District Court approved his detention following a request from state investigators, according to reports from the Russian news agency TASS on Sunday. The charges against Vladimir Smerkis are based on Article 159 of Russia’s criminal code, which addresses serious fraud crimes. If convicted, Smerkis could face up to 12 years in prison. Authorities have not yet confirmed whether formal charges have been filed. Past Ventures Under Scrutiny Local media outlet Mash linked Vladimir Smerkis and this investigation to previous crypto ventures, ‘The Token Fund and Tokenbox’. Both platforms were launched in 2017. Combined, those projects allegedly resulted in losses of around $15 million for investors. Although Blum is not connected to these older ventures, the incident has placed the project under intense scrutiny. Notably, Smerkis also once headed operations for… Read More at Coingape.com
Controversial crypto trader James Wynn believes that the crypto market will nuke, and we are heading for World War 3 as the Iran-Israel conflict escalates. Although he’s a long-term bull for Bitcoin and crypto, Wynn believes that the market will first see a downside before entering a major bull phase. Wynn said that he’s adding
Metaplanet, also popular as Japan’s MicroStrategy, announced a fresh purchase of 162 bitcoins for an investment value of $13.5 while buying the recent BTC dips. The announcement sent the stock price 8% higher past 3,500 JPY levels on Wednesday’s trading session. Furthermore, the company issued 2 billion JPY worth of bonds at 0% rate to fund additional BTC purchases.
Bitcoin price selling pressure has shot up this week ahead of the US CPI data release and macro uncertainties amid the Trump tariff war. The Japanese firm seems to be making the most of this opportunity by buying the dips.
Metaplanet Stock Jumps 8% on Fresh Bitcoin Purchases
On Wednesday, Metaplanet announced its latest Bitcoin acquisition, purchasing 162 BTC for approximately $13.5 million, with an average purchase price of $83,123 per Bitcoin. Additionally, the company reported a year-to-date (YTD) BTC yield of 53.2% in 2025, delivering impressive returns despite a volatile crypto market.
As of March 12, 2025, Metaplanet holds a total of 3,050 BTC, acquired at a cumulative cost of roughly $253.7 million, with an average purchase price of $83,180 per Bitcoin. Nearly 50% of its total BTC holdings have been purchased in 2025 so far only.
Earlier today, the firm announced that its Board of Directors has approved the issuance of its 8th Series of Ordinary Bonds to EVO FUND. The JPY 2 billion (approximately $18.2 million) bond issuance is part of the company’s strategy to acquire Bitcoin. The announcement comes just two days after MicroStrategy announced its plans to raise $21 billion for Bitcoin purchases.
According to the notice, the funds raised will be specifically allocated for Bitcoin purchases, as per the plans detailed in its January 28, 2025 notice regarding Stock Acquisition Rights.
Following today’s development, the stock price gained 7.93% moving all the way to 3,605 levels. Amid the current market volatility, the stock has been range bound between 3,300 to 4,000 JPY levels.
BTC Whale Accumulation on the Rise
Despite the strong selling pressure in BTC over the past few weeks, long term holders and Bitcoin whales have been strategically accumulating at every fall. As per the data from CryptoQuant, Bitcoin whales have accumulated over 65,000 BTC in the last 30 days, even as the cryptocurrency faces ongoing market corrections.
Source: CryptoQuant
While the accumulation may not have an immediate impact on Bitcoin’s short-term price, it indicates significant absorption by influential holders. BTC’s price is currently holding above the crucial support of $80,000; however, there have been rising calls for a dip under $70,000 before the long-term uptrend is resumed.
