Here are the latest updates from the crypto world. Russia is using Bitcoin for oil trade, Gemini set a world record with a Bitcoin drone show, and Ripple won its SEC lawsuit. Meanwhile, Trump’s crypto venture is booming, and a new DeFi blockchain has launched.
Russia is using Bitcoin and USDt for oil trade with China and India despite international sanctions. A Reuters report reveals that Russian oil companies are conducting millions of dollars in crypto transactions monthly to bypass restrictions and continue global trade. This marks a significant shift in how international transactions are conducted, especially amid financial sanctions.
The process involves intermediaries who manage offshore accounts. Buyers in China and India pay in their local currency to a third-party trading firm, which converts the payment into crypto and transfers it through multiple accounts. Eventually, the funds reach Russia, where they are converted into rubles, allowing seamless transactions without relying on traditional banking systems.
Experts believe Russia will continue using crypto for foreign trade, regardless of sanctions. Even if restrictions are lifted, digital assets offer a faster and more efficient alternative to conventional banking. The move reflects the growing role of cryptocurrencies in global trade, allowing nations to bypass financial controls and sanctions.
Meanwhile, China remains strict on crypto transactions but continues to lead in Bitcoin mining, raising questions about its evolving stance on digital assets. As crypto adoption in global trade rises, its impact on financial systems and regulations is becoming increasingly significant.
Crypto exchange Gemini set a new Guinness World Record by using 1,000 drones to create a giant Bitcoin logo in the sky. The event took place on March 13 in Austin, Texas, to celebrate the US Strategic Bitcoin Reserve. This historic display marked the largest aerial representation of a currency symbol ever recorded.
The drone show featured stunning visuals, including a rocket launch and a moon landing, symbolizing Bitcoin’s rapid growth. As the Bitcoin logo lit up the sky, the phrase “Go where dollars won’t” appeared alongside it. The event highlighted Bitcoin’s increasing role in the global financial system. After the show, Gemini received a Guinness World Record certificate for organizing the largest drone display of a currency symbol.
Bitcoin’s logo has evolved over time. The first version, created by Bitcoin’s founder Satoshi Nakamoto, featured a gold coin with “BC” written on it. In 2010, Nakamoto changed it to the well-known “₿” symbol. Later that year, a Bitcoin community member named “bitboy” designed the final version—a bright orange logo tilted slightly.
This record-breaking event reflects Bitcoin’s growing influence worldwide. As cryptocurrency adoption increases, such displays highlight its impact on modern finance and innovation.
Ethena Labs and Securitize have announced the launch of Converge, a new Ethereum Virtual Machine (EVM) blockchain designed for retail and institutional investors. The blockchain will offer access to standard DeFi applications while bridging traditional finance with decentralized opportunities.
The Converge blockchain will include various product offerings such as Ethereal, Morpho, Maple Labs, Pendle, and Aave Labs’ Horizon. It will also benefit from Securitize’s experience in RWA tokenization, which has already minted nearly $2 billion across multiple blockchains. Institutional backing comes from Anchorage and Copper, along with Securitize’s latest partner, RedStone.
For DeFi users, Converge will enable the staking of Ethena’s governance token, ENA, while stablecoins USDe and USDtb will serve as gas tokens. This move highlights the increasing adoption of institutional DeFi, as more financial firms seek regulated DeFi solutions.
Real-world assets (RWAs) are a growing sector, with McKinsey predicting a $2 trillion market by 2030. The RWA market, including stablecoins, has surpassed $240 billion, while onchain RWAs alone are nearing $20 billion in value.
The US SEC has officially dismissed its long-running lawsuit against Ripple Labs, marking a significant victory for the crypto industry. Ripple CEO Brad Garlinghouse called it the start of a "new chapter" during the 2025 Digital Asset Summit in New York.
The lawsuit, which began in 2020, accused Ripple of conducting a $1.3 billion unregistered securities offering. However, with the case now dismissed, Garlinghouse emphasized that the SEC had been trying to “bully” the industry but ultimately failed.
This decision follows a trend of regulatory reversals under President Donald Trump, who has taken a more pro-crypto stance. His administration has dropped similar cases against Coinbase, Kraken, and Uniswap, appointing industry-friendly leaders to regulatory positions.
With the legal battle behind it, Ripple is now focusing on expansion and investment. The company has already invested over $2 billion in acquisitions across the crypto space, reinforcing Garlinghouse’s belief that if the crypto industry thrives, Ripple will thrive too.
World Liberty Financial (WLFI), a crypto banking platform backed by the Trump family, has raised $250 million in its second token sale, bringing total sales to $550 million. The project, launched in October 2024, just weeks before Donald Trump’s election victory, has attracted over 85,000 KYC-verified participants.
A launch document revealed that the Trump family could receive 75% of net revenue from WLFI. The platform’s co-founder, Zach Witkoff, described it as a move to “supercharge DeFi” and expand decentralized finance opportunities.
Justin Sun, the founder of the Tron blockchain, has also increased his holdings in WLFI to $75 million. Meanwhile, a court filing in February showed that Sun was negotiating a resolution to his SEC civil fraud case.
WLFI is one of several Trump-linked crypto initiatives, reflecting the former president’s pro-crypto stance. Earlier this month, Trump issued an executive order to create a Strategic Bitcoin Reserve. Additionally, a White House memo revealed that David Sacks, Trump’s AI and crypto czar, sold over $200 million in digital assets before assuming his role to avoid any conflict of interest.
In a further boost to the crypto sector, the SEC ruled in February that meme tokens are not securities, a decision that followed.
