BTC is currently trading around $82,600 and ETH around $1,900. Notable gainers in the last 24 hours are PI, TIA and IP. The global crypto market cap is $2.77T, up 1.2% over the last day. DeFi Total Value Locked is ~$87b and BTC dominance is around 62%.
Equity markets are mixed given continued tariff and macro uncertainty although US tech stocks are up following a softer than expected US CPI print that eased concerns around US inflation. Crypto markets, meanwhile, are largely flat on the news.
Notable news includes: The US House of Representatives voted to repeal the IRS’ DeFi broker rule, following a vote to repeal the rule by the Senate last week; the US SEC delayed approval decisions on several altcoin spot ETFs including ETFs on XRP, Litecoin, Solana and Dogecoin with prospective issuers including 21Shares, Canary Capital and Bitwise; US Senator Cynthia Lummis reintroduced the BITCOIN Act to establish a strategic Bitcoin reserve; the Bank of Russia proposed a three-year experimental legal regime for crypto investments for qualified investors; South Korea’s Financial Services Commission announced that it plans to issue comprehensive guidelines for institutional crypto investment by Q3; Bolivia’s state energy firm YBFB announced it will use crypto to pay for imports as a solution for the country’s shortage of US dollars and foreign currency reserves; Binance secured a $2b investment from Abu Dhabi’s MGX; Coinbase received regulatory approval to resume crypto trading services in India after a two year hiatus; Gemini announced the expansion of its USD payment rails for institutional customers in Europe; Cantor Fitzgerald announced it will use Anchorage Digital and Copper as service providers to help custody and manage collateral assets for Cantor’s upcoming Bitcoin financing business; the team behind Blocktower’s former venture capital unit founded a new venture investment firm called Strobe and announced an upcoming $100m raise for a new fund; Bitwise launched its Bitcoin Standard Corporations ETF tracking companies holding at least 1000 BTC; Sony’s layer 2 Soneium partnered with social media platform LINE to bring four gaming applications onchain; Mercado Bitcoin partnered with Polygon Labs to tokenize an expected $200m in assets on Polygon’s network in 2025; Securitize selected RedStone as the primary oracle provider for its tokenized products, including BlackRock’s BUIDL and Apollo’s ACRED, enabling their expansion into DeFi; StarkWare announced it will establish a BTC treasury and that its Starknet layer 2 will soon settle on both Bitcoin and Ethereum without waiting for the Bitcoin network to enable the OP_CAT opcode; Circle launched a new version of its cross-chain USDC transfer protocol dubbed CCTP V2 offering faster settlements; NEAR Foundation’s independent entity Nuffle Labs rebranded to MoreMarkets and pivoted to creating yield opportunities for tokens on chains lacking DeFi capabilities; crypto payments company Mesh announced an $82m Series B raise led by Paradigm; and, Bitcoin-based NFT project Taproot Wizards announced its mint will start on March 25.
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Author:
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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