SEC Faces Mass Resignations + $1 Billion for New Crypto Venture Funds🚀
Katie Haun’s $1B Crypto Fund, MegaETH’s Scaling Play, SEC Reshuffle, and Coinbase’s Deribit Bid Reshape the Market.
Because Bitcoin
March 22, 2025
Katie Haun Targets $1 Billion for New Crypto Venture Funds Amid Market Shifts
Katie Haun is raising $1 billion across two new crypto venture funds, expected to close by June. Her firm, Haun Ventures, previously raised a record $1.5 billion in 2022 but deployed capital cautiously during the bear market. The new funds will focus on early- and late-stage investments. Haun, a former prosecutor turned VC, remains politically active in crypto regulation but avoids public appearances. Despite losing key team members, Haun Ventures continues investing in crypto infrastructure and is set to secure one of the largest venture raises in the industry’s recent history.
MegaETH Launches Public Testnet, Aiming to Disrupt Ethereum Scaling With High-Throughput Approach
MegaETH has launched its public testnet, offering 20,000 TPS and 10-millisecond block times as an alternative to Ethereum’s rollup-based scaling. The project raised $20 million from investors like Vitalik Buterin and Joseph Lubin, plus $23 million through Echo and NFT sales. It aims to reach 100,000 TPS and has already attracted blockchain applications like GTE and Infinex.
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SEC Faces Mass Resignations Amid Trump and Musk’s Push to Reshape Federal Government
Over 600 SEC employees, including senior staff and enforcement lawyers, have accepted resignation offers as part of President Trump and Elon Musk’s efforts to downsize the federal workforce. The voluntary departures, making up over 12% of the agency’s staff, could impact market oversight and investor protection.
The SEC’s Division of Enforcement and Office of General Counsel have been hit hardest by the exits. The departures follow Trump’s mandate for agencies to draft further layoff plans, with more resignations expected by the deadline. Some hope these voluntary exits will reduce the likelihood of mass layoffs.
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Coinbase in Talks to Acquire Deribit in Multi-Billion Dollar Deal to Expand Crypto Derivatives Business
Coinbase is in advanced discussions to acquire Deribit, the largest Bitcoin and Ethereum options exchange, in a deal valued between $4 billion and $5 billion. The acquisition would enhance Coinbase’s derivatives platform, which currently focuses on futures. Both companies have informed Dubai regulators, as Deribit’s license would need to be transferred if the deal proceeds.
Crypto derivatives trading is surging, with Coinbase reporting a 10,950% increase in volumes this year. Competitors like Kraken and Robinhood are also expanding into derivatives, while CME Group recorded a 300% rise in crypto derivatives trading activity.
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