Weekend Crypto News Wrap-Up: $TRUMP Token Surges, Tornado Cash on MegaETH, Solo Miner Wins Big, and More!

During the weekend, the crypto space saw several notable crypto news updates. President Trump’s social media post boosted the TRUMP coin price. An independent miner operator secured a rare BTC block reward. Meanwhile, Tornado Cash reappeared on MegaETH testnet following regulatory adjustments. Moreover, fresh debates erupted within the cryptocurrency community after the IMF updated its guidance on digital currencies.

Trump’s Memecoin Skyrockets After His Endorsement

The TRUMP memecoin soared by about 12% in less than an hour after President Trump called it “the greatest of them all.” His post on Truth Social immediately boosted the coin’s trading value by nearly $250 million, peaking at $12.25 before modestly retreating to approximately $11.38. Additionally, the increased momentum led to an overall trading volume of about $1.4 billion over the weekend for $TRUMP.

However, not every trader benefitted from this rapid surge. One major investor, who had previously gained close to $108 million from TRUMP memecoin trades, lost $207,000 because of the rapid fluctuations. Although the $TRUMP token reached a market cap of roughly $14.6 billion in January, it has since shown a generally downward trend. Experts warn that while brief rallies can attract investor attention, the long-term trajectory of the $Trump remains uncertain.

Tornado Cash Reemerges on MegaETH Testnet

The well-known privacy service Tornado Cash returned to MegaETH testnet, a new Ethereum-compatible layer-two platform engineered to tackle scalability issues. Based on recent crypto news, a developer known by the name “GUNBOATs” confirmed the reappearance by sharing a snapshot of the smart contract “0x0cB…65142.” This move coincided with the U.S. Treasury’s decision to remove the service from its sanctions list after an appeals court ruling challenged restrictions on smart contracts.

putting tornado cash on fastest chain ever @megaeth_labs pic.twitter.com/NoxUsX3Mbf

— GUNBOATs (@0xgunboats) March 21, 2025

MegaETH’s testnet claims to deliver block times as fast as 10 milliseconds and process up to 20,000 transactions per second. However, uncertainty persists regarding Tornado Cash’s ability to achieve widespread adoption on this network.

Solo Bitcoin Miner Wins $266K Block

In other crypto news, a solo BTC miner solved one blockchain block and subsequently won an estimated Bitcoin mining reward of $266,552. The miner, operating a rig with under one terahash per second capacity, solved block 888,989, an event many consider statistically improbable. This rare success occurred through a self-hosted public mining pool, which further underscores the unpredictable nature of BTC’s proof-of-work system.

The total Bitcoin mining reward included the current 3.125 BTC subsidy and 0.027 Bitcoin from transaction fees. In a similar incident, another independent miner had previously solved block 887,212 on March 10, earning around $263,000 in rewards. These unexpected successes continue to stimulate interest in individual mining efforts.

IMF Bitcoin Comments Stir Controversy

Recent IMF publications have started a broad debate regarding Bitcoin’s classification, although some reports about their stance have been exaggerated. The latest guidelines recognize BTC as a medium for exchange and acknowledge its capacity to act as a store of value. Some reports inaccurately claimed that the institution likened BTC to “digital gold.”

Image 1 – Published by the IMF, March 24, 2025.

Industry experts, including Satoshi Action Fund CEO Dennis Porter, quickly clarified that the IMF report did not serve as an outright endorsement. Instead, the publication provided detailed classifications, effectively distinguishing fungible tokens from non-fungible ones. At the same time, ongoing discussions between the IMF and representatives from El Salvador aim to refine the nation’s crypto regulation framework on Bitcoin.

Tether Engages Big Four Firm for Stablecoin Audit

Stablecoin issuer Tether is reportedly working with a Big Four accounting firm to perform an extensive audit of its asset reserves. The primary aim is to verify that its USDT remains fully backed at a 1:1 ratio. CEO Paolo Ardoino indicated that the process might become increasingly transparent and efficient because of the Trump administration’s new crypto regulation stance.

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