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Pharaohs: Redefining Meme Coins With Purpose, Utility, and Deflationary Power

Bitcoin Magazine 
Bitcoin 2025 Conference Brings Back Highly Anticipated Legal Education Program
Bitcoin 2025 in Las Vegas will once again host its Continuing Legal Education 
(CLE) program, offering legal and financial professionals critical insights 
into the evolving regulatory landscape.
This post Bitcoin 2025 Conference Brings Back Highly Anticipated Legal 
Education Program first appeared on Bitcoin Magazine and is written by Nik.

Bitcoin 2025 Conference Brings Back Highly Anticipated Legal Education Program

Authorities in India have apprehended Aleksej Besciokov, the alleged co- 
founder of Garantex, a cryptocurrency exchange reportedly implicated in 
“extensive money laundering activities (MLA).&#8221; $60 Billion In Transactions 
Linked To Criminal Activity Besciokov, a 46-year-old Lithuanian national, was 
reportedly arrested while vacationing with his family in Varkala, a coastal 
city in the Indian state of Kerala. His arrest comes after an indictment 
unsealed by the US Department of Justice (DOJ) on March 7. The DOJ’s 
indictment charges Besciokov and his co-founder, 40-year-old Aleksandr Mira 
Serda, a Russian national residing in the United Arab Emirates, with 
conspiracy to commit money laundering. Related Reading: This Is The Last 
Opportunity To Buy Dogecoin ‘Relatively Cheap,’ Predicts Analyst Garantex, 
which launched in 2019, was sanctioned by the US Treasury&#8217;s Office of Foreign 
Assets Control in April 2022 for its role in facilitating the movement of 
criminal proceeds. Reports indicate that the exchange has processed over $60 
billion since sanctions were imposed, raising significant concerns regarding 
its operations. According to the blockchain analysis firm Elliptic, Garantex 
has been involved in various forms of unlawful activity, including 
facilitating ransomware attacks, drug trafficking, and evading sanctions 
imposed on Russian elites. The firm noted that the exchange has enabled 
Russian oligarchs to transfer their wealth abroad, particularly following the 
invasion of Ukraine. DOJ Alleges Garantex Co-Founder Operated Under Hacker 
Alias &#8220;Proforg&#8221; The US Department of Justice also alleges that Besciokov 
served as Garantex’s primary technical administrator, responsible for 
maintaining critical infrastructure and approving transactions. In conjunction 
with the indictment, German and Finnish law enforcement agencies seized 
servers that hosted Garantex’s operations, and US authorities have frozen over 
$26 million linked to the exchange&#8217;s money laundering activities. In a notable 
twist, Besciokov is said to have operated under the hacker handle “proforg,” a 
nickname associated with a long-running Russian-language forum known for its 
explicit content. The charges against him include conspiracy to violate the 
International Economic Emergency Powers Act, which carries a maximum sentence 
of 20 years in prison, and conspiracy to operate an unlicensed money 
transmitting business, which could lead to an additional five years of 
imprisonment. Related Reading: Bitcoin Price Risks Further Crash As S&amp;P 
Monthly LMACD Turns Bearish, Why Bulls Have Only 20 Days Besciokov is 
scheduled to appear in a Delhi court on March 14, where he will face these 
serious charges. If found guilty of any offenses alleged, he will forfeit to 
the United States any property—whether real or personal—that was involved in 
the commission of the offense or any property traceable to such assets. 
Furthermore, if convicted of the offense detailed in Count II of the 
indictment, Besciokov will also forfeit any property that constitutes or is 
derived from proceeds traceable to the offense. Featured image from DALL-E, 
chart from TradingView.com

Crypto Exchange Garantex Co-Founder Arrested In India Over Extradition Request

Right now, NEAR Protocol is going through a tough time, with its token on the 
decline. The big question is, how long will this downward trend last, and can 
the token regain its former strength? Let’s take a closer look…

NEAR Protocol price prediction 2025-2030: Is there hope for a recovery?

The Kaito project, merging AI and data analysis, launched its KAITO token in 
February 2025 through an airdrop. While the token’s listing generated a lot of 
hype, the distribution method has left the community with mixed reactions. In 
this article,…

What is Kaito coin? Kaito controversy explained

Bitcoin (BTC) price has risen 8% from its March 11 low of $76,703, driven in 
part by large investors aggressively buying the dip with leverage.
Margin longs on Bitfinex surged to their highest level since November 2024, 
adding 13,787 BTC over 17 days. Currently standing at $5.7 billion, this 
bullish leveraged positioning signals confidence in Bitcoin&#8217;s upside potential 
despite recent price weakness.
_Bitcoin/USD (orange, left) vs. Bitfinex BTC margin longs (right). Source: 
TradingView / Cointelegraph_
Some analysts argue that Bitcoin&#8217;s price is closely linked to the global 
monetary base, meaning it tends to rise as central banks inject liquidity.
With recession risks mounting, the likelihood of expansionary monetary 
policies increasing the money supply grows. If this correlation holds, 
Bitfinex whales could be well-positioned to capitalize on a rally above 
$105,000 in the next two months.
_Source:__pakpakchicken_
For instance, X user Pakpakchicken claims to have identified an 82% 
correlation between the global money supply (M2) and Bitcoin&#8217;s price.
When central banks drain liquidity by raising interest rates or reducing bond 
holdings, traders become more risk-averse, leading to weaker demand for 
Bitcoin. Conversely, periods of monetary easing tend to fuel greater investor 
interest in the asset, increasing its price potential.
## **Bitfinex whales go long BTC as M2 bottoms**
In early September 2024, Bitfinex margin traders added 7,840 BTC in long 
positions, coinciding with a period of bearish momentum as Bitcoin struggled 
to reclaim the $50,000 level for over three months.
Despite the downturn, Bitfinex whales held their positions, and Bitcoin&#8217;s 
price surged past $75,000 less than two months later. Notably, the global M2 
money supply bottomed out around the same time these traders increased their 
Bitcoin exposure, further reinforcing the correlation.
It may be impossible to establish a direct cause-and-effect relationship 
between money supply and investors&#8217; willingness to accumulate Bitcoin, 
especially given the influence of major events during these periods.
For example, Donald Trump&#8217;s election as US president in November 2024 
significantly fueled Bitcoin&#8217;s rally due to the new administration&#8217;s pro- 
crypto stance, regardless of global M2 trends and liquidity conditions.
_Spot Bitcoin ETF net flows, USD. Source: CoinGlass_
Similarly, Michael Saylor&#8217;s latest plan to raise up to $21 billion in fresh 
capital for Strategy to acquire more Bitcoin could shift market dynamics, even 
accounting for the $4.1 billion in net outflows from Bitcoin spot exchange- 
traded funds (ETFs) since Feb. 24.
Strategy remains the largest corporate Bitcoin holder, with 499,096 BTC 
acquired at a total cost of $33.1 billion, reinforcing its long-term bullish 
strategy.
## **Clearer crypto regulation, Strategy capital increase**
In essence, the expansion of the global money supply may have influenced the 
increase in Bitfinex margin longs, but Bitcoin&#8217;s push toward $105,000 could be 
primarily driven by industry-specific news and events.
A Wall Street Journal report on March 13 revealed that representatives of 
Donald Trump have held discussions about potentially acquiring a stake in 
Binance.
_**Related:**__**US Bitcoin ETFs break outflow streak with $13.3M inflow**_
So far, the market impact of a more crypto-friendly US government has yet to 
yield concrete benefits.
For example, the Office of the Comptroller of the Currency (OCC) has not yet 
clarified whether banks can custody digital assets and manage stablecoins 
without prior approval.
Similarly, Acting SEC Chairman Mark Uyeda announced plans to remove crypto- 
specific provisions from a proposed rule that would expand exchange 
definitions.
The US Securities and Exchange Commission is currently reviewing requests from 
spot Bitcoin ETF issuers to permit in-kind creations and redemptions, allowing 
shares to be exchanged directly for Bitcoin instead of using the traditional 
cash-based method.
Meanwhile, global macroeconomic conditions have deteriorated, putting pressure 
on Bitcoin&#8217;s price. However, these same factors gradually push governments 
toward economic stimulus measures and expand the M2 money supply.
If this trend continues, it should ultimately create conditions for Bitcoin&#8217;s 
price to meet Pakpakchicken&#8217;s $105,000 prediction by May 2025 and possibly go 
even higher.
This article is for general information purposes and is not intended to be and 
should not be taken as legal or investment advice. The views, thoughts, and 
opinions expressed here are the author&#8217;s alone and do not necessarily reflect 
or represent the views and opinions of Cointelegraph.