Today in crypto, a video of Vitalik Buterin interacting with a robot has caught the crypto industry’s attention, Kalshi prediction market files lawsuits against gaming regulators in New Jersey and Nevada, and David Pakman said a $1 trillion stablecoin supply combined with yield-bearing crypto ETFs may provide the next crypto market catalyst for 2025.
Vitalik Buterin meows at a robot, and the crypto world loses it
A video of Ethereum co-founder Vitalik Buterin kneeling in front of a robot and seemingly letting out a “meow” sound has gone viral — and, as usual, the crypto industry is already speculating what it might mean for Ether’s future.
“The future of Ethereum is in this man’s hands… Meow,” crypto influencer Wendy O said in a March 29 X post. Cork Protocol co-founder Phil Fogel shared the video and commented that “so much” of his professional life and net worth depend on Buterin but reiterated that the entertaining interaction makes him “bullish.”
Source: Rinor
Pseudonymous crypto trader Scott Crypto Warrior shared the video with his 514,300 X followers and said, “Pray for our ETH bags.”
The short clip shows Buterin on his knees, gesturing at a four-legged robot and letting out what sounds like a “meow” before patting it on the head. At the time of publication, Buterin has yet to address the video on social media himself.
Kalshi prediction market files lawsuits against gaming commissions in two US states
Kalshi, the onchain prediction market, has filed a lawsuit against gaming regulators in the US states of Nevada and New Jersey after both states sent cease and desist orders for Kalshi to pause its sports event contracts.
Additionally, the Nevada Gaming Control Board issued a cease and desist order for Kalshi's election event contracts. The contracts gained popularity during the 2024 elections in the United States.
Kalshi lawsuit against Nevada Gaming Control Board. Source: Kalshi
The platform's team argued that Kalshi's event contracts, which are two-sided markets trading through swaps, are distinct from sports betting or other types of gambling that rely on the book method controlled by a gaming house.
Moreover, Kalshi contends that state-level regulators have no legal jurisdiction over the platform, which is regulated by the United States Commodities Futures Trading Commission (CFTC).
$1 trillion stablecoin supply could drive next crypto rally — CoinFund’s Pakman
The global stablecoin supply could surge to $1 trillion by the end of 2025, potentially becoming a key catalyst for broader cryptocurrency market growth, according to David Pakman, managing partner at crypto-native investment firm CoinFund.
“We’re in a stablecoin adoption upswell that’s likely to increase dramatically this year,” Pakman said during Cointelegraph’s Chainreaction live show on X on March 27. “We could go from $225 billion stablecoins to $1 trillion just this calendar year.”
He noted that such growth, while modest compared to global financial markets, would represent a “meaningfully significant” shift for blockchain-based finance.
Pakman also suggested that the rise in capital flowing onchain, combined with growing interest in exchange-traded funds (ETFs), could further support decentralized finance (DeFi) activity:
“If we have a moment this year where ETFs are permitted to provide staking rewards or yield to holders, that unlocks really meaningful uplift in DeFi activity, broadly defined.”
The aggregate stablecoin supply stood at an all-time high of above $208 billion across the five largest stablecoins on March 28, according to Glassnode data.
Stablecoins, aggregate supplies. Source: Glassnode
“This is the major catalyst that’s been missing for over a decade: a major movement of people’s wealth onchain that brings everyone else on,” added Pakman.
The growing stablecoin supply recently surpassed $219 billion and continues to rise, suggesting that the market is “likely still mid-cycle” as opposed to the top of the bull run, according to IntoTheBlock analysts.
