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Why Bitcoin OG Erik Voorhees Just Went All-In on Gold

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Bitcoin OG Erik Voorhees Pivots to Gold

Erik Voorhees, the early Bitcoin advocate and founder of ShapeShift, is making a bold pivot into gold.

The move comes as gold recovers following a 21% crash, with prospects for further gains if analyst projections are any guide.

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Erik Voorhees’ Gold Move Signals a Shift Beyond Bitcoin

Lookonchain reports that Voorhees created nine new wallets and spent $6.81 million in USDC. The Bitcoin OG purchased 1,382 ounces of PAXG, a gold-backed token just like Tether Gold, at an average price of $4,926 per ounce.

Bitcoin OG Erik Voorhees Pivots to Gold
Bitcoin OG Erik Voorhees Pivots to Gold. Source: Arkham Intelligence

Voorhees, who entered the Bitcoin ecosystem in 2011 and later founded several of the earliest major crypto companies, has long championed Bitcoin as “digital gold.”

His latest purchases suggest a nuanced strategy to diversify into traditional safe-haven assets even while remaining a vocal advocate for crypto.

Analyst Jacob King notes that Voorhees’ move signals that some of crypto’s earliest adopters are hedging against potential market volatility by holding both physical and tokenized gold.

Gold prices have been holding steady above $5,000 per ounce, supported by strong central bank demand and inflows from gold ETFs. As of this writing, the gold price was trading for $5,048, up by almost 15% since bottoming out at $4,402 on February 2.

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Gold (XAU) Price Performance
Gold (XAU) Price Performance. Source: TradingView

According to Coin Bureau CEO and co-founder Nic Puckrin, the recent dip in gold prices reflects a temporary pause rather than a retreat. Puckrin cites upcoming US jobs and CPI data, which are likely to influence rate-cut expectations.

Gold Set for Breakout as Analysts Forecast $6,300+ Amid Strategic Dollar Shift

Elsewhere, technical analyst Rashad Hajiyev notes that gold is poised for a breakout after testing a critical resistance level, projecting a near-term breakout to around $5,200 per ounce before entering a range-bound phase.

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Meanwhile, Wells Fargo recently characterized the pullback as a healthy correction after a sharp rally, raising its 2026 gold target to $6,100–$6,300 per ounce. The multinational financial services firm cited geopolitical risks, market volatility, and sustained central bank demand.

“Buy the gold dip, Wells Fargo says. The recent pullback in gold is a healthy correction after a sharp rally,” wrote Walter Bloomberg.  

Meanwhile, Daniel Oliver, founder of Myrmikan Capital, projects a longer-term surge to $12,595 per ounce, driven by central bank buying and concerns over a potential “government bond death spiral.”

Gold Outpaces Stocks as Macro Shifts and Crypto Moves Highlight Its Safe-Haven Appeal

Gold’s strong performance relative to equities is stark. Historical data shows gold surging 1,658% since 2000, compared to the S&P 500’s 460% gain.

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Gold and S&P500 Performance Since 2000
Gold and S&P500 Performance Since 2000. Source: TradingView

Even after factoring in dividends, the S&P’s total return of roughly 700% reflects gold’s value as a portfolio diversifier. This is especially true in periods of macroeconomic and geopolitical uncertainty.

According to analysts, broader macroeconomic factors are driving gold’s rise. Sunil Reddy notes that US policy is quietly shifting away from maximizing dollar purchasing power toward reindustrialization and trade rebalancing.

This “softer dollar” approach is boosting demand for hard assets like gold and silver, signaling a strategic pivot rather than purely speculative buying.

Voorhees’ move into gold may reflect an awareness of these dynamics. By deploying millions into PAXG, the Bitcoin pioneer appears to be betting on gold’s continued relevance as a hedge against dollar weakness and a counterbalance to crypto market volatility.

Still, investors should conduct their own research and not rely solely on analysts’ projections.

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Aave Labs Outlines Layered Security Plan for V4 After $1.5 Million Audit

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Aave Labs Outlines Layered Security Plan for V4 After $1.5 Million Audit

Aave Labs is going all in on security ahead of its V4 launch.

The team has spent about $1.5 million on an extensive audit program, making it one of the most intensive security reviews in DeFi so far.

The review process lasted roughly 345 days and involved several security firms, as well as a large public audit contest.

The era of “move fast and break things” is fading. In today’s market, resilience and security are becoming the real competitive edge.

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Key Takeaways:
  • Audit Scale: The $1.5 million program covered 345 days of cumulative review across four major firms and 900+ independent researchers.
  • V4 Architecture: Aave has shifted to a “security-first” model where formal verification runs parallel to code writing, not after.
  • TVL Implication: The zero-critical-finding result from the public contest signals institutional-grade readiness for V4 liquidity scaling.

Aave Labs $1.5M Audit Program: What the Investment Signals About V4 Risk

The V4 audit went far beyond a normal protocol upgrade.

Backed by funding from the Aave DAO, the team brought in major security firms like ChainSecurity, Trail of Bits, Blackthorn, and Certora. Instead of one audit pass, the code was tested from multiple angles.

Altogether, the protocol underwent nearly a full year of testing by internal teams, external auditors, and independent researchers. One of the biggest phases was a six-week public security contest on Sherlock between December 2025 and January 2026.

More than 900 researchers joined the contest and submitted over 950 findings. Despite that massive review, no critical or high-severity vulnerabilities were found.

That clean result strengthens confidence in Aave’s hub-and-spoke architecture, which was designed to reduce the protocol’s overall attack surface.

Aave V4’s Layered Security Model: How It Works and Why It’s Different

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Aave Labs is moving away from the old “build first, audit later” approach. With V4, security teams are working alongside developers from day one.

The framework revolves around five core ideas: formal verification to mathematically test the code, layered reviews combining manual audits and automated testing, continuous checks on every code update, ongoing bug bounties, and AI tools scanning for unusual attack paths.

The AI element stands out. Automated systems can catch edge cases that human auditors might miss. Verification firm Certora helped define strict rules, called invariants, that the code must always follow before it even reaches manual review.

Early researchers who examined the code described it as unusually clean for a pre-audit project. The architecture also reduces the attack surface, helping eliminate common DeFi exploit points before launch.

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Security is becoming a major competitive advantage in DeFi. Institutional capital will not touch protocols that carry unknown smart contract risk. Spending $1.5 million upfront on security is a small price to pay for the value locked in the protocol, but it sends a strong trust signal.

The next key test will come after launch. If Aave V4 runs its first months without major issues, cautious capital that has stayed away from DeFi after recent hacks could start flowing back in.

The post Aave Labs Outlines Layered Security Plan for V4 After $1.5 Million Audit appeared first on Cryptonews.

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Ethereum derivatives open interest drops 5.62% in 24-hour leverage flush

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Sharplink refreshes brand as ETH staking reaches $1.7 billion

Ethereum derivatives markets saw a sharp bout of deleveraging over the past day, with total ETH contract open interest across major centralized exchanges falling 5.62% to 27.119 billion dollars, according to Coinglass data. ​

According to data from Coinglass, the total open interest of Ethereum (ETH) contracts across the network has contracted by 5.62% in the past 24 hours, bringing the figure down to 27.119 billion dollars.

The decline signals a decisive round of risk reduction in the derivatives market, with traders closing or being forced out of leveraged positions as conditions turn more defensive. While granular liquidation figures were not provided, the magnitude of the move suggests a mix of voluntary deleveraging and margin-driven position exits rather than a purely organic rotation.

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Binance remains the largest concentration point for ETH derivatives risk, now holding 5.74 billion dollars in open interest, while Gate registers 2.866 billion dollars, Bybit 2.059 billion dollars, and OKX 1.772 billion dollars. This clustering of leverage on a handful of venues means that order book dislocations or sudden funding shifts on these exchanges can quickly bleed into spot pricing. For basis and spread traders, the reset in open interest may open up cleaner arbitrage conditions after a period of elevated speculative positioning.

Historically, single‑day pullbacks of this scale in open interest have often acted as either mid‑trend “cleanup” events or the first leg of a broader de‑risking cycle, depending on subsequent spot demand and funding dynamics. If funding normalizes and fresh spot buying emerges, the current move could be framed as a healthy clearing of excess leverage built up during prior rallies. However, if open interest continues to grind lower while spot remains under pressure, it would indicate that systematic and speculative capital are still in distribution mode.

At press time, Ethereum is trading around 2,067 dollars, down approximately 3.65% over the past 24 hours, broadly echoing the scale of the derivatives drawdown. In the near term, traders are watching the 2,000‑dollar psychological level as key support; holding that zone while open interest stabilizes would support a consolidation narrative, whereas a decisive break lower alongside further OI contraction could signal an extension of the current downside phase.

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Web3 Foundation Refocuses on Global Advocacy as Polkadot Ecosystem Reaches Maturity

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Nexo Partners with Bakkt for US Crypto Exchange and Yield Programs

TLDR:

  • Web3 Foundation has closed its General Grants Program, Decentralized Voices, and several other key initiatives.
  • W3F is now focused on two pillars: global Web3 evangelism and responsible long-term asset management.
  • Polkadot’s next development phase is being led by Parity Technologies and its broader builder community.
  • On-chain treasury and governance tools remain active, ensuring decentralized funding continues without W3F oversight.

Web3 Foundation has announced a major strategic realignment, stepping back from its hands-on operational role. 

The organization is returning to its founding purpose: championing decentralized web technologies on a global scale.

For years, W3F actively helped bootstrap networks like Polkadot and Kusama into functioning, community-driven ecosystems.

As those networks have now reached a level of maturity, the Foundation is refocusing its priorities. It will concentrate on global advocacy and disciplined long-term asset management.

Concluded Programs Mark a Shift in the Foundation’s Operational Direction

Web3 Foundation has already closed several key programs as part of this transition. These include the General Grants Program, Support, Decentralized Voices, and Decentralized Nodes.

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Each of these programs played a distinct role during the ecosystem’s early growth stages. Their conclusion marks a clear shift in how W3F operates.

Over the past year, W3F undertook a thorough review of its programs and spending. Several resource-heavy bounties were closed, and spending was carefully audited throughout this period.

Clearer documentation and operational guidelines were established based on lessons learned along the way.

Moreover, several additional initiatives are being evaluated for transition to external teams. These include the JAM Prize, Polkadot Governance Support, the Polkadot Wiki, and developer documentation.

The Knowledge Base and Kusama Vision are also among the programs being considered for handover.

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Despite these changes, decentralized funding mechanisms remain fully active within the ecosystem. Communities still have direct access to on-chain governance and treasury tools for funding initiatives. These pathways continue to support innovation without requiring centralized oversight from the Foundation.

Two Core Priorities Will Define the Foundation’s Long-Term Strategy

Web3 Foundation is now centering its work around two clear pillars going forward. The first involves evangelizing and advancing the decentralized web on a global scale. The second focuses on safeguarding the Foundation’s assets in alignment with its broader Web3 mission.

At the same time, Polkadot is entering a phase focused on building products with real-world utility. Parity Technologies and a wider community of builders are now driving this development stage. The Foundation’s reduced operational role is designed to complement, rather than direct, this effort.

This transition also reflects how blockchain ecosystems naturally evolve over time. As networks become self-sustaining, support structures around them must adapt accordingly.

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W3F is repositioning itself as a long-term steward rather than a day-to-day operational body. This approach allows the Foundation to focus on higher-level advocacy work.

Furthermore, this realignment places greater emphasis on disciplined asset allocation going forward. Resources will be directed toward efforts with the greatest global impact.

Through advocacy and financial stewardship, the Foundation aims to strengthen the Web3 ecosystem for years to come.

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WhiteBIT Coin ($WBT) Officially Listed on Kraken Exchange, Highlighting Its Growing Recognition

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WhiteBIT Coin ($WBT) Officially Listed on Kraken Exchange, Highlighting Its Growing Recognition

[PRESS RELEASE – Vilnius, Lithuania, March 5th, 2026]

WhiteBIT, the largest European cryptocurrency exchange by traffic, announces that its native WhiteBIT Coin (WBT) is now trading on Kraken, one of the world’s long-standing crypto platforms. WBT trading is available on WBT/EUR and WBT/USD pairs, giving more traders worldwide access to the coin and reflecting the asset’s growing recognition in the market.

The listing marks a significant milestone for WhiteBIT, following rapid growth in 2025, during which WBT surged 160%, reaching an all-time-high of $64.11 and solidifying its position as the 11th-largest cryptocurrency by market capitalization at $10.7 billion, according to CoinGecko.

“Listing WBT on Kraken represents a logical next step in the expansion of the WhiteBIT ecosystem,” said Volodymyr Nosov, Founder and President of W Group, which WhiteBIT is a part of. “It reflects the momentum we’ve built through ecosystem growth, strategic partnerships, and increasing institutional visibility. It’s another important endorsement of WBT’s value and its role in the future of digital finance.”

This momentum has been powered by the expansion of the W Group ecosystem, which WhiteBIT is a part of, including:

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  • High-profile partnerships, such as the collaboration with Juventus, making WhiteBIT the club’s Official Sleeve and Cryptocurrency Exchange Partner.
  • Global market expansion, with new operations in South America and the United States.
  • Strategic cooperation in the Middle East, including partnership with Saudi Arabia to develop blockchain infrastructure and CBDC framework.
  • Institutional recognition, including WBT’s inclusion in the S&P Crypto Indices, reflecting the token’s growing liquidity and market relevance.

Launched in 2022, WhiteBIT Coin (WBT) is the native utility token of the WhiteBIT platform. It offers significant advantages within the WhiteBIT exchange ecosystem, including reduced trading fees (up to 100% discount), increased referral bonuses (up to 50%), and free daily withdrawals. Users also gain from free AML checks, staking rewards up to 22.1%, and exclusive access to new projects via the WhiteBIT Launchpad.

The addition of WBT to Kraken not only expands access for traders worldwide but also reinforces WhiteBIT’s commitment to developing a globally recognized exchange-native coin that delivers utility, liquidity, and long-term value.

About WhiteBIT

WhiteBIT is the largest European cryptocurrency exchange by traffic, offering over 900 trading pairs, 350+ assets, and supporting 8 fiat currencies. Founded in 2018, the platform is a part of W Group which serves more than 35 million customers globally. WhiteBIT collaborates with Visa, FACEIT, FC Juventus and the Ukrainian national football team. The company is dedicated to driving the widespread adoption of blockchain technology worldwide.

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SEC, Justin Sun Settle Lawsuit for $10M

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SEC, Justin Sun Settle Lawsuit for $10M

The Securities and Exchange Commission has ended its long-running fraud and securities violation lawsuit against Justin Sun in a $10 million settlement.

The US Securities and Exchange Commission has ended its lawsuit against crypto entrepreneur Justin Sun with a $10 million settlement, ending a two-year legal battle over alleged fraud and securities laws violations.

The SEC said in a letter to a Manhattan federal court on Thursday that Rainberry, one of Sun’s companies, would pay a $10 million fine, and claims against Sun and his companies, the Tron Foundation and BitTorrent Foundation would be dropped.

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Related: Rep Waters demands SEC oversight hearing about its approach to crypto

The lawsuit, first filed in March 2023, accused Sun and his companies of selling unregistered securities via the Tronix (TRX) and BitTorrent (BTT) tokens and allegedly wash trading TRX.

Magazine: SEC’s U-turn on crypto leaves key questions unanswered

This is a developing story, and further information will be added as it becomes available.

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