From Taiwan’s national digital wallet rollout to Binance securing a $2 billion investment, this week saw major developments in the crypto industry. Regulatory disputes, investment deals, and partnership clarifications shaped the landscape, while Binance founder Changpeng “CZ” Zhao pushed back against media reports.
Here’s a roundup of the top crypto stories you may have missed.
Taiwan to launch national digital wallet by December
Taiwan is set to introduce a national digital wallet by December 2025, serving as a centralized platform for storing citizens’ digital IDs, certificates, licenses, and other personal data. The initiative, led by the Ministry of Digital Affairs, aims to streamline identity verification across both public and private institutions.
Key features of Taiwan’s digital wallet
- Digitized identification – Includes national ID cards, national health insurance data, and professional certificates.
- Multiple applications – The wallet will also store business certificates, driver’s licenses, and other essential credentials.
- Public and private use – It can be used for identity verification in government agencies, banks, and insurance companies, reducing verification time and resources.
- Open-source approach – Taiwan plans to make the wallet’s code public to enhance trust, allow security audits, and involve citizens in identifying potential vulnerabilities.
- Phased rollout – The digital wallet will first be tested in a sandbox environment in March, with the full launch scheduled for December 2025.
Binance raises $2 billion from Abu Dhabi-based MGX
Abu Dhabi’s MGX investment group has made a $2 billion cryptocurrency investment in Binance, strengthening ties between the crypto exchange and the United Arab Emirates.
The deal, one of the largest institutional investments in the crypto industry, will make MGX a minority shareholder in Binance. However, the investment was made using a stablecoin rather than traditional currency.
What is MGX?
Established by the Abu Dhabi government in 2024, MGX is an investment company focused on artificial intelligence and advanced technology.
Following the investment announcement, BNB surged 15% to $580.88 within 48 hours, reversing its earlier drop to $511.85. The token’s market cap now stands at $82.75 billion, with a daily trading volume of $1.84 billion.
Soneium, Kaia, and LINE collab clarification
Recent reports suggested that Soneium had partnered with LINE to integrate four mini-apps onto the Soneium blockchain, focusing on in-game rewards and Web3 adoption in LINE’s key markets.
However, Kaia PR issued an immediate clarification stating that LINE Yahoo (LY), LINE Corp, and LINE NEXT have not signed any agreement with Soneium, nor is Soneium affiliated with LINE’s official Mini Dapp or Dapp Portal.
In response, LINE NEXT said it will request a correction from Soneium and, alongside the Kaia DLT Foundation, issue a public announcement addressing the misrepresentation.
Announced mini-apps coming to Soneium on LINE
- Sleepagotchi LITE – A mini-app version of the sleep rewards game.
- Farm Frens – A kawaii-style farming game.
- Moonveil – Puffy Match – A zk-L2- and AI-powered casual puzzle game.
- Pocket Mob – A social strategy RPG that integrates Mafia-style battles and NFT rewards.
OKX denies EU investigation over Bybit hack
OKX refuted claims that it is under investigation by European regulators for failing to block hackers involved in the recent Bybit security breach. The exchange asserts that it took swift action to freeze the stolen funds and implement new security measures. OKX criticized Bybit for spreading misinformation and misleading reports about its role in handling the incident.
The reports were based on statements from Bybit CEO Ben Zhou, who claimed that hackers laundered $100 million via OKX’s Web3 proxy.
- Bloomberg reported that EU regulators are examining whether OKX’s Web3 services could be linked to sanctions violations.
- OKX dismissed the Bloomberg report as “misleading” and stated that it was not under investigation.
- OKX blamed Bybit for its security vulnerabilities and for misleading the public.
CZ denies WSJ, Bloomberg story
Binance founder Changpeng “CZ” Zhao denied in an X post that Wall Street Journal and Bloomberg reports claiming Trump family representatives were in talks to invest in Binance.US and that he was seeking a presidential pardon.
Zhao accused the Wall Street Journal of publishing a politically motivated article, suggesting it was part of a continued “war on crypto” from the previous administration.
He also stated that WSJ and Bloomberg’s reports are purely speculative, as even their own articles admit uncertainty (“The substance of the meeting with Zhao isn’t clear”).
Zhao questioned the state of journalism, implying these reports are part of a continued FUD (fear, uncertainty, and doubt) campaign against Binance and crypto.
This roundup is published on BitPinas: Five Crypto News You May Have Missed This Week | March 15, 2025
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