Project Progress

Backpack founder Armani recently stated that the witch hunt investigation team is reassessing complex cases and has opened an appeals channel. Eligible users can have 50% or more of their tokens returned through manual verification. Meanwhile, the team will launch a token buyback plan to compensate users.

Cursor released the Composer 2 technical report on March 25, revealing the training scheme of the Kimi K2.5 model, which adopts a MoE architecture with parameters reaching 10.4 billion. Training is divided into two stages, using real-world scenario simulation for reinforcement learning. The model ultimately achieved 61.3 points on the CursorBench benchmark, a 70% improvement, with inference costs lower than other large language model APIs.

Ripple's CTO David Schwartz criticizes the idea of artificially subsidizing XRP use to drive adoption, likening it to unsustainable tactics used by startups like Uber. He emphasizes focusing on removing barriers to adoption rather than offering financial incentives.

As Iran tensions escalate, Wintermute launches WTI crude oil CFD over-the-counter trading services to meet around-the-clock trading demands. CFDs allow traders to participate without holding physical crude oil while meeting institutional hedging needs. Wintermute is expanding its business into commodities, driving convergence between the crypto market and traditional finance.

Coixa Wallet has submitted a KYB authentication application to Pi Network. If approved, it will be able to provide compliant DeFi services within the Pi ecosystem. KYB authentication is an important verification mechanism for compliant platforms and helps enhance user trust. Currently, rumors have circulated regarding the transfer of billions of Pi tokens on Pi Network. Developers have clarified that this was an internal testing activity and there is no need for concern.

Ripple is testing its stablecoin RLUSD in Singapore's regulatory sandbox to automate cross-border payments, partnering with Unloq to enhance trade finance. This initiative aims to streamline processes by utilizing tokenized bank liabilities, moving beyond traditional manual verification methods.

Ripple announced its participation in the Monetary Authority of Singapore's BLOOM program, where it will test an automated cross-border trade finance settlement solution powered by stablecoin RLUSD within a regulatory sandbox. In collaboration with Unloq, Ripple is building a payment system based on the XRP Ledger to simplify procedures and reduce settlement cycles.

Lombard Plans to Launch Bitcoin Smart Accounts with Bitwise and Morpho, Allowing Institutions to Lend and Earn Without Moving Bitcoin, Addressing Traditional Lending Risks. The platform is expected to launch in 2026, aiming to increase the utilization efficiency of institutional Bitcoin and promote the development of the DeFi market.

The Ethereum Foundation released a post-quantum cryptography upgrade roadmap, planning to complete preliminary L1 protocol upgrades before 2029, covering four critical hard forks to address future quantum computing threats, while emphasizing the importance of starting related work ahead of schedule.

Investment app Public has announced that its cryptocurrency trading functionality is now live for traditional and Roth retirement accounts, allowing users to conveniently trade crypto assets like Bitcoin within the same account while enjoying the benefits of tax-deferred or tax-free growth, thereby diversifying their retirement investment portfolios.

BlockBeats News: On March 25, according to Markets' social media post, Markets' mobile app is currently in the testing phase and will open limited slots to specific groups. The first batch of users will receive one free trade, covered by Markets.

The essay highlights challenges in direct RWA token exposure, emphasizes the potential in leverage opportunities amid settlement delays, critiques Morpho's governance token structure, and presents Fluid as a more effective token model with stablecoin links.

Gate News, on March 25, Hyperliquid Hip 3 deployer Markets announced on social media that the Markets mobile app is currently in the testing phase and will offer limited slots to specific groups. The first batch of users will receive one free trading opportunity, with trading fees covered by Markets.