Pi Coin News: Banxa Opens Doors to Pi Network in 100 Plus Countries with KYB Approval

Monicah W

The post Pi Coin News: Banxa Opens Doors to Pi Network in 100 Plus Countries with KYB Approval appeared first on Coinpedia Fintech News

A few days ago, Banxa temporarily suspended Pi transactions, likely due to pending KYB (Know Your Business) approval. During this time, it was widely known that Banxa had already acquired millions of Pi at low prices, suggesting they planned to return once regulatory approval was in place.

Banxa Now KYB Approved — Pi Available in 100+ Countries

Now, according to an update shared by Dr. Altcoin, Banxa is officially KYB approved. This is a big development for the Pi Network and its global community. With this approval, people in over 100 countries can now instantly buy Pi using cash through Banxa. This move also boosts accessibility and could drive greater adoption of the Pi Network.

More platforms are expected to follow. BitMart, HTX, and others are likely to receive KYB approval within the next 10 days, showing growing institutional support for the project. It’s important to note that only KYB-approved companies are legally allowed to use and trade Pi. On the other hand, individuals participating in peer-to-peer (P2P) transactions must be KYC-approved and use non-custodial wallets.

$1 Target in Sight?

Meanwhile, Pi’s price has seen a decent rise. In the past 24 hours, $PI has climbed 2.5% and is now trading around $0.60. This comes after weeks of price pressure caused by ongoing token unlocks. However, with the pace of new unlocks expected to slow down after mid-May, the selling pressure could ease, giving room for potential growth. The next major resistance lies at $0.70. A breakout above that could open the path toward $1, a level that would signal stronger market confidence in the project’s future.

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WazirX News: 85% Fund Recovery Plan Explained for Affected Users

The post WazirX News: 85% Fund Recovery Plan Explained for Affected Users appeared first on Coinpedia Fintech News

The Supreme Court recently dismissed a petition filed by WazirX users following the platform’s major hack in July 2024. The hack, which resulted in the theft of Rs. 2,000 crore worth of crypto, left over 4.4 million users locked out of their accounts. 

This incident, and the court’s rejection of the petition, has highlighted the glaring gaps in India’s crypto regulations, leaving users vulnerable and raising questions about the country’s ability to protect digital asset holders.

The WazirX Hack: A Blow to 4.4 Million Users

On July 18, 2024, WazirX, one of India’s largest crypto exchanges, was targeted in a massive hack that saw a significant portion of user funds stolen. Despite the exchange’s promise to restore 85% of users’ funds by May 2025, many affected users are dissatisfied with the compensation plan. This led 54 users to file a petition with the Supreme Court, seeking intervention in the ongoing restructuring process happening in Singapore, and requesting a thorough investigation into the exchange’s fund mismanagement.

Supreme Court’s Decision: A Setback for Users

The Supreme Court, led by Justice B R Gavai and Justice Augustine Masih, dismissed the petition, citing the absence of clear crypto regulations in India. The ruling underscored the limitations of the current legal framework, leaving victims of crypto hacks, such as the WazirX incident, with little recourse in the Indian legal system.

WazirX’s Restructuring Plan: Fund Recovery on the Horizon

In response to the hack, WazirX management proposed a restructuring plan to the Singapore Court, promising to restore 85% of affected user funds by May 2025. The remaining 15% will be returned over the following 2-3 years, depending on the exchange’s recovery and future profits. While the restructuring plan has received user support, the Singapore court’s approval is still pending.

WazirX Users Vote in Favor of the Recovery Plan

Despite the legal hurdles, WazirX claims that more than 93% of users support the exchange’s restructuring proposal, following a vote conducted in partnership with legal firm Kroll.

The Call for Crypto Regulation in India

The WazirX case serves as a wake-up call for India, highlighting the urgent need for a clear and robust cryptocurrency regulatory framework. While countries like the U.S. have embraced pro-crypto policies, India’s regulatory stance remains largely outdated. The WazirX hack exposes how India’s failure to adopt progressive crypto laws leaves users at risk, preventing the sector from reaching its full potential.

As the global crypto landscape continues to evolve, India risks falling behind if it does not address its regulatory shortcomings. The WazirX saga illustrates the challenges faced by users in a legal vacuum, emphasizing the need for stronger regulations to protect the growing crypto community in India.

FAQs

How does WazirX’s restructuring plan work for affected users?

WazirX’s restructuring plan aims to restore 85% of the crypto portfolios for affected WazirX users by May 2025. The remaining 15% of the funds will be returned over the next 2-3 years, depending on the exchange’s recovery and future profits. This plan is part of the ongoing restructuring process being presented in the Singapore court. While WazirX claims over 93% of users support this proposal, the plan still awaits court approval.

What steps are WazirX users required to take to benefit from the proposed 85% fund recovery in the restructuring plan?

 WazirX users need to stay updated on the restructuring process, accept the plan, and possibly verify their accounts to claim their share of the 85% fund recovery.

Why is WazirX promising to restore only 85% of the users’ funds, and what happens to the remaining 15%?

WazirX is restoring 85% due to financial constraints after the hack. The remaining 15% will be returned over 2-3 years, depending on the exchange’s future profits and recovery.

How does WazirX plan to recover the remaining 15% of funds over the next 2-3 years for users affected by the hack?

WazirX plans to recover the remaining 15% through future profits and successful financial recovery, returning the funds once the exchange is in a better financial position.

The post WazirX News: 85% Fund Recovery Plan Explained for Affected Users appeared first on Coinpedia Fintech News
The Supreme Court recently dismissed a petition filed by WazirX users following the platform’s major hack in July 2024. The hack, which resulted in the theft of Rs. 2,000 crore worth of crypto, left over 4.4 million users locked out of their accounts.  This incident, and the court’s rejection of the petition, has highlighted the …

Pepe Coin Price Analysis: Here’s Why You Should Buy PEPE & Short Ethereum (ETH)

Pepe Coin Price Analysis Here's Why You Should Buy PEPE & Short Ethereum (ETH)

Meme coins have been a hot topic of discussion in the crypto market ever since. Among many, Pepe Coin is one of the top meme coins that tapped the meme-driven hype; the Pepe Coin price grew exponentially. Since its launch, the meme coin has gained immense popularity among meme enthusiasts and investors, allowing it to gain a substantial amount of market capitalization. In fact, now the meme coin is on its way to challenge the king of altcoins, Ethereum (ETH). 

This seems to be the case, as investors are now losing confidence in Ethereum because of its sluggish performance. Meanwhile,PEPE price today has broken above a crucial level, which hints at a massive bull rally going forward. Ergo, let’s find out whether investors should consider buying PEPE and shorting Ethereum. 

Pepe Coin Price Breaks Key Resistance

CW, a popular crypto analyst, recently posted a tweet on X revealing that the Pepe coin price has been moving inside a down channel for multiple weeks. The better news is that the meme coin managed a breakout above that pattern, which marked the beginning of a new bull rally.

However, the analysis also mentioned that the real bull rally will begin after the Pepe coin price breaks above three selling walls. Therefore, mentioning the Pepe coin price forecast, it will be crucial for the meme coin to first go above $0.000019 before eyeing higher targets in the coming weeks or months. 

As the meme coin broke the resistance and moved ahead, investors’ confidence in it has also been increasing. Santiment’s data clearly pointed out that positive sentiment around PEPE rose last week. Since meme coins are mostly hype-driven, an increase in positive sentiment might have a bullish impact on PEPE’s price. 

PEPE positive sentiment
Source: Santiment

Are Investors Reluctant to Buy Ethereum (ETH)?

While PEPE’s price is showing much potential going forward, the king of altcoins, Ethereum, might face headwinds. This seems to be the case as selling activity has risen. This was evident from the spike in its exchange outflow during the last seven days. 

Ethereum's exchange outflow
Source: Santiment

At the time of writing, ETH value is $1,650, which is well below its March 2025 high. If selling pressure remains high, then ETH’s 24-hour gain of 3% might get nullified soon, in turn pushing it under $1,500 once again. 

Final Words

In conclusion, rising optimism and a key breakout have fueled bullish sentiment around Pepe coin price, signaling strong upside potential. In contrast, Ethereum’s waning momentum and increasing sell pressure suggest it might be time to buy PEPE and short ETH.

The post Pepe Coin Price Analysis: Here’s Why You Should Buy PEPE & Short Ethereum (ETH) appeared first on CoinGape.

Top 3 AI Coins of The First Week Of March 2025

AI coins like Reploy (RAI), Alchemist AI (ALCH), and DOGEAI have seen strong market activity in the last seven days. Reploy, an Ethereum-based platform for LLM development, has jumped 15% in the past week as adoption grows.

Alchemist AI, a no-code software development platform on Solana, is up 40%, driven by increasing demand. DOGEAI, tapping into multiple narratives, has gained 5% over the past seven days despite a sharp correction.

Reploy (RAI)

Reploy, an Ethereum-based platform, specializes in developing large language models (LLMs) for a range of applications, including personal chat, image generation, and artificial intelligence assistants.

The platform is integrated with 40 different protocols and introduced its native token, RAI, at the end of December 2024, aiming to enhance its ecosystem and utility.

Price Analysis for RAI.
Price Analysis for RAI. Source: TradingView.

RAI has surged 15% over the past week, bringing its market cap near to $18 million, while its 24-hour trading volume has climbed 76%. If the current uptrend continues,

RAI could test the resistance at $2.14, and a breakout above this level could push it toward $2.40. Sustained buying interest might drive RAI to challenge $2.90, with the potential to surpass $3 for the first time in a month.

Alchemist AI (ALCH)

Alchemist AI is a no-code development platform that enables users to create software applications using natural language and simple descriptions. Its native token, ALCH, operates on the Solana blockchain.

ALCH has surged over 40% in the past week as the platform continues to gain traction, pushing its market cap to $54 million.

Price Analysis for ALCH.
Price Analysis for ALCH. Source: TradingView.

If the current momentum persists, ALCH could soon test the resistance at $0.074, and a breakout could send it toward $0.11.

However, if the trend reverses, losing the $0.059 support could lead to a drop toward $0.045, with a strong downtrend potentially pushing it as low as $0.021.

DOGEai (DOGEAI)

Positioning itself within multiple narratives, DOGEAI capitalizes on the popularity of Dogecoin, the growing attention toward the Department of Government Efficiency (DOGE), the US department led by Elon Musk, and the trend of AI coins.

The project describes itself as “an autonomous AI agent dedicated to identifying waste and inefficiencies in government spending and policy decisions”.

Price Analysis for DOGEAI.
Price Analysis for DOGEAI. Source: TradingView.

Over the past week, $DOGEAI has climbed nearly 16% until Thursday, though it started seeing correction on Friday. The token currently holds support around $0.040, but if this level fails, a decline toward $0.026 could follow.

On the upside, sustained interest and buying momentum could push $DOGEAI to test resistance at $0.049, with a breakout potentially driving the price as high as $0.076.

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