Hey, crypto fam!
March is off to a fiery start, and the crypto world isn’t slowing down!
Trump’s move to create a crypto strategic reserve sent Bitcoin and altcoins out of their slump, albeit temporarily. Meanwhile, scammers are cooking up fake government-backed coins, and Berachain is trying to undo a little “oops, we sold too much” moment.
As usual, here is a roundup of the stories that rocked the industry in the last seven days. Enjoy!
Biggest Story
The U.S. Crypto Strategic Reserve Sparks Market Surge
The speculations and rumours are finally confirmed—Donald Trump has announced the establishment of a Crypto Strategic Reserve to position the United States as a global leader in digital assets. The reserve will include Bitcoin, Ethereum, XRP, Solana, and Cardano, marking a significant shift from past regulatory hostility.
As part of this initiative, Trump signed an executive order creating a Strategic Bitcoin Reserve, funded by Bitcoin seized through federal asset forfeitures. White House AI and Crypto Czar David Sacks estimates the government holds 200,000 BTC, though no audit has been conducted. The order prohibits selling Bitcoin from the reserve, likening it to a “digital Fort Knox.”
The announcement triggered a crypto rally, with Bitcoin surging 10% to $92,900 ahead of Trump’s White House Crypto Summit on March 7, where key stakeholders will discuss regulatory policies and the reserve’s composition.
Industry leaders, including Ripple CEO Brad Garlinghouse and Gemini’s Winklevoss twins, are debating which assets should be included, with some advocating for Bitcoin as the sole reserve asset.
Other News Making Waves
Trump’s World Liberty Financial dives deeper into crypto, snapping up $21.5M in ETH, Wrapped Bitcoin, and Movement tokens—but industry insiders question the altcoin focus. (More)
A fake “National Hong Kong Coin” scam, falsely linked to the government, spreads across X—Hong Kong lawmaker Johnny Ng warns traders: (More)
Berachain’s co-founder admits they totally sold too much of their token supply to VCs—now, the team is scrambling to buy back tokens and restore community trust. (More)
After a $9.6M exploit, zkLend activates its Recovery Portal, letting users claim lost funds (More)
Olympic breakdancer Rachael Gunn’s brother faces money laundering charges—Australia’s securities regulator says he helped funnel $181K in scam-related funds through his crypto exchange. (More)
Loss from crypto hacks skyrocketed in February, hitting $1.53B—Bybit alone lost $1.46B, with attackers laundering ETH at a breakneck pace. (More)
Football legend Ronaldinho launches STAR10 token on Binance Smart Chain, but skeptics recall his ties to past crypto controversies—including a $61M pyramid scheme. (More)
Former Bank of England economist slams the digital pound as an expensive, unnecessary project, warning it’s more about the Bank’s survival than public demand. (More)
White House AI & Crypto Czar David Sacks confirms he sold all his crypto holdings before taking office, but reports suggest indirect ties through Craft Ventures. (More)
Around the World: Bold Moves and Crypto Regulations
Colombian lawmakers push for crypto regulation with a new bill aiming to protect users, promote investment, and combat financial crimes. (More)
NYSE Arca moves to list the Bitwise Dogecoin ETF, offering investors regulated access to the popular memecoin without holding it themselves. (More)
SEC launches Crypto Task Force to create clearer regulatory guidelines for the industry, with roundtables starting March 21. (More)
Japan’s SBI VC Trade secures a stablecoin license and prepares to roll out USDC trading, marking a key step in Japan’s evolving crypto regulations. (More)
SEC drops its case against Cumberland DRW after months of legal battles, as both parties file for formal dismissal. Cumberland expresses confidence in the resolution.(More)
South Korea intensifies efforts to combat financial crimes with a new joint task force focusing on crypto AML enforcement, following sanctions on Upbit. Park Kwang, head of the FIU, warns that a failed system could lead to an increase in livelihood crimes. (More)
New Hampshire’s House committee approves a bill to establish a Bitcoin reserve, allowing the state treasurer to invest in digital assets like Bitcoin. The bill’s approval could shape national Bitcoin policy, with other states like Utah leading the charge. (More)
Market Trends: Winners and Losers
Top 5 Gainers 📈
According to data from CoinGecko, these are the five biggest gainers of the week:
- AGENDA 47 +361.96%, from $0.00316367 to $0.01461483
- SafeMoon +398.62%, from $0.00001451 to $0.00007235
- Der Daku +6.66%, from $0.01705026 to $0.01818538
- Bluzelle +13.09%, from $0.03334367 to $0.03770893
- Finvesta +90.99%, from $39.30 to $75.06
Top 5 Losers 📉
According to data from CoinGecko, the five biggest losers of the week are:
- Sally A1C -75.00%, from $9.28 to $2.32
- Wink -57.87%, from $0.100241 to $0.04222848
- GoPlus Security -54.60%, from $0.135552 to $0.061547
- VON -21.82%, from $0.00047851 to $0.00037411
- MyShell -45.92%, from $0.607783 to $0.328662
Project Spotlight
Solv Protocol Partners with Soneium to Bring Bitcoin Staking to Ethereum Layer 2
ICYMI, Bitcoin staking platform Solv Protocol has teamed up with Soneium, an Ethereum Layer 2 blockchain backed by Japan’s Sony Group, to bring Bitcoin staking to the network. This partnership integrates SolvBTC, a Bitcoin-backed token, into Soneium’s growing decentralized finance (DeFi) ecosystem, enabling users to stake BTC, earn rewards, and access cross-chain liquidity. SolvBTC Liquid Staking Tokens (SolvBTC.LSTs) enhance scalability and offer advanced yield strategies. With its Staking Abstraction Layer, Solv simplifies multi-chain staking, allowing seamless participation in DeFi across blockchains.
Why it matters:
This collaboration broadens Bitcoin’s utility beyond trading and holding, helping integrate it into Ethereum’s expanding DeFi space, and making it easier for users to participate in advanced DeFi strategies. It enhances the scalability and flexibility of Bitcoin, bringing new opportunities for both DeFi enthusiasts and developers.
Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.
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