👻SEC Folds—Crypto Crackdown Officially Ends

GM. Welcome to Proof of Ghost—the newsletter that tracks crypto’s power plays, even the ones no one wants you to see.

IN TODAY’S EDITION

Today’s issue isn’t just bullish. It’s foundational.

→ SEC drops Kraken, MetaMask, and Cumberland cases—for good
→ India now leads the world in Bitcoin users (yes, really)
→ FDIC says U.S. banks don’t need permission to touch crypto anymore
→ $35M+ raised in Web3 funding across privacy, infra, and scaling
→ Whale moves: memecoin chaos, hacker dumps, Tether mints, and more

Let’s break it all down.

The SEC is finally closing the chapter on regulation-by-enforcement.

In the last 24 hours alone, Kraken, Consensys (MetaMask), and Cumberland DRW have all received formal case dismissals from the SEC—with prejudice. That means the agency can’t bring the same charges again.

No fines. No changes to their business models. Just closure.

This follows similar outcomes with Coinbase and Crypto.com, with firms like Ripple, Gemini, and Uniswap expected to follow soon.

What changed?

→ A new crypto-friendly SEC leadership under the Trump administration
→ Public backlash against vague regulation
→ Years of wasted time, resources, and innovation bottlenecked by unclear rules

This isn't a win for just a few companies—this is a pivotal moment for the U.S. crypto ecosystem.

Now it’s time to move forward—toward clarity, collaboration, and real policy-making.

Regulation should be by dialogue, not surprise lawsuits.

India is quietly leading the Bitcoin revolution.

According to Cointelegraph, India now has 75M+ Bitcoin users — more than any other country in the world. That’s 16.8% population penetration, second only to Argentina.

What’s fueling it?

→ A massive tech-savvy population
→ A thriving digital finance ecosystem
→ Economic diversification + growing interest in alternative assets

Meanwhile, countries like Vietnam (12.5%) and the Philippines (9%) are embracing Bitcoin for remittances and gaming.

And Argentina? With 17% penetration, it’s using Bitcoin as a lifeline against hyperinflation and capital controls.

This isn’t about hype anymore. It’s about use cases.

If you're building in Bitcoin or crypto today, your next 100M users won't be speculators — they'll be people solving real financial pain.

Are you building for them yet?

Banks no longer need a permission slip to touch crypto.

The FDIC just dropped new guidance (FIL-7-2025), and it’s a big deal:

→ Banks can now engage in crypto-related activities without needing prior FDIC approval.
→ As long as risks are properly managed, permission is no longer a bottleneck.
→ This rescinds the 2022 approach that slowed down every serious crypto-banking conversation.

Acting Chairman Travis Hill said it best:
“We’re turning the page on the flawed approach of the past three years.”

This is the clearest signal yet that US regulators are finally treating crypto and blockchain as infrastructure, not speculation.

If you're building banking rails in Web3, your moment just arrived.

Web3 Funding Recap | March 28

Another day, another stack of capital flowing into early-stage innovation and infra. Here’s what moved:

→ Abound raised $14M in an undisclosed round backed by Near Foundation

→ Warlock raised $8M in seed funding from Polychain Capital

→ Be Water secured $10.8M in a strategic round with Tether backing the bet

→ De Charge raised $2.5M in seed stage led by Lemniscap

→ Arc1um (Elusiv) locked in $1M in an angel round from Joe McCann

Privacy, infra, and capital-efficient scaling are still drawing serious investor attention.

Which of these plays do you think has the most upside in the next 6 months?

Whale Alert Recap | March 28

Big money moves in the past 24 hours:

→ Tether just minted $1B USDT on Tron Network
tronscan.org link

→ A whale dumped 743,947 $TRUMP for $7.92M at a loss—bringing total losses to $15.7M on $TRUMP
solscan link

→ Hackers moved and dumped 14,064 ETH from THORChain & Chainflip for $27.5M DAI
arkham wallet 1
arkham wallet 2

→ A wallet flipped $2,861 into $760K on $MUBARAK, but left $540K on the table by selling early
debank link

→ Another whale took a $292K loss on 10.28M $MUBARAK deposited to Binance
Address: 0x20dab8db43fdc4d3a4f0e3a6f2b72831fc2c27bf

→ US Government transferred 97 BTC ($8.46M) and 884 ETH ($1.77M)
USG Arkham dashboard

Big swings. Bigger signals. Stay sharp.

Tickle Your Tokens

Alright, that’s today’s ghost drop.

With regulators stepping back, banks stepping in, and whales playing on both sides—this week feels less like a crypto news cycle and more like a reset button on the U.S. crypto future.

And you’re watching it unfold. In real time.

Stay haunted, stay sharp—see you tomorrow.

Nitesh

P.S. If you liked this, share Proof of Ghost with someone who wants to stay ahead of the crypto market. We break down everything that matters—every morning, no fluff, just signal.

Quick heads-up—Proof of Ghost is all about delivering insights, not investment advice. We break down market moves, trends, and data so you stay informed, but what you do with that info is 100% your call.

Crypto is wild, unpredictable, and sometimes downright spooky, so always DYOR (Do Your Own Research) before making any financial moves. We’re just the friendly ghost in your inbox—not your financial advisor. 👻