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Good Morning,

Here's a quick preview of today’s content: An American crypto strategic reserve is announced by Trump himself, bitcoin mining firm sees its revenue double, Ethereum Foundation announces co-directors, Latin America is being influenced by Colombian lawmakers, and someone made nearly 8 figures using 50x leverage positions. And so much more below.

Let’s hope this week is in the green with all the news 👀 Let’s dive in.

Market Snapshot

As of 3/2/2025. Data per CoinMarketCap.

  • President Trump’s announcement regarding a U.S. Crypto Strategic Reserve sent prices soaring across the crypto industry, boosting the total industry market cap by nearly +20% since its recent lows on Friday.

  • Cardano, XRP, Trump’s memecoin, and Solana were the best performing coins over the past 24 hours

  • BNB rose the least out of the top 10 cryptocurrencies by market cap. Some industry figures have criticized the Strategic Reserve, which Trump said will include at least BTC, ETH, XRP, ADA, and SOL, for including coins other than Bitcoin.

Headline Roundup
The major headlines driving crypto markets

  • Trump announces a plan for a ‘strategic crypto reserve’ read the official statements here

  • SOL, ADA, XRP to be included in America’s strategic crypto reserve (TB)

  • Coinbase CEO Ben Armstrong thinks a ‘Bitcoin-only’ reserve makes the most sense (X)

  • AI and crypto czar David Sacks announces White House Crypto Summit followed by a crypto market rebound (CS)

  • Chinese company Tencent showcases new LLM faster than DeepSeek, reigniting global AI race (DC)

  • Judge throws out case against Hex and Pulsechain founder, Richard Heart (TB)

  • IBIT, BlackRock’s bitcoin ETF, added to portfolios targeted at financial advisors (TB)

  • MetaMask, Ethereum-focused wallet, to add support for Solana and Bitcoin (TB)

  • Ethereum Foundation adds 2 co-executive directors while Danny Ryan becomes co-founder of Etherealize (TB)

  • Bitcoin mining company TeraWulf sees stock jump from doubling revenue (TB)

  • Ondo Finance adds former congressman Patrick McHenry as an advisor (BL)

  • Bitdeer buys additional 50 BTC during week-long market dip (CD)

  • DraftKings pays $10M settlement for NFT offering violations (DC)

M&A Announcements

  • Bluefin acquires majority stake in Sui ecosystem player InsiDeX (CC)

  • Sealance, an identity and privacy company, is acquired by Forte (VB)

Launches

  • Base introduces Flashblocks on testnet that reduces block times by 10x (TB)

  • 2 Solana futures variants to be launched in March by CME Group (TB)

  • DekaBank to launch institutional crypto trading services through Boerse Stuttgart Partners (CD)

Venture Capital

  • Sixth Street makes $200M investment in joint venture with blockchain lender Figure Technology Solutions (WSJ)

  • Prime Intellect, a peer-to-peer AI protocol announces $15M raise led by Founders Fund (PI)

  • Orochi Network raises $12M from multiple web3 venture funds to improve blockchain data (CS)

  • DePIN project Shaga secures $4M financing from IOSG Ventures (CC)

  • Finisterra Labs raises $3.75M from Haun Ventures (HV)

  • FanTV announces $3M strategic financing from Mysten Labs and Cypher Capital (ET)

  • Arcanum Ventures, Tykhe Block Ventures, and HASH CIB co-lead strategic investment into Spheron (CH)

  • Stake Capital Group backs Electron with seed capital (X)

  • LF Labs makes investment into AI x web3 entertainment startup MelodAI (CC)

Regulation

  • Hedera’s Chief Policy Officer deep dives into global crypto alignment needs (FC)

  • Colombian Senators create new bill to improve Latin America crypto regulation (CN)

  • An estimated 5-23% tax on crypto gains expected in Ukraine in 2025 (CA)

  • A bill for a state managed bitcoin reserve has advanced through Arizona senate (CS)

Cybersecurity

  • Illegal crypto ATM operator in U.K. sentenced to 4 years (CT)

  • Victims of a SMS text scam to receive $8.2M seized by U.S. officials (CT)

  • ‘Libragate’ scandal from Argentina’s President Milei explained (CT)

Extra Reads

Chart of the Day

Exchange data shows trader that made $6.8M in <24 hours with 50x leverage position

Meme Dump

Pls send us crypto memes to be featured in the newsletter 🤝

Upcoming Events

  • The first ever White House Crypto Summit is this Friday, March 7 (YF)

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