Good Morning,

Here's a quick preview of today’s content: Investors and crypto community members aren’t exactly ‘pleased’ about White House crypto summit outcomes. Plus multiple crypto exchange IPOs are expected in the near future, Coinbase CEO thinks thousands will be hired in crypto this year, regulated banks are moving in on crypto offerings fast and so much more.

The markets are a little down in the dumps right now📉 but that just means it’ll be that much better when crypto moons🌙🚀 Let’s dive in.

Market Snapshot

As of 3/9/2025. Data per CoinMarketCap.

  • It's yet another Sunday selloff in crypto, with Bitcoin looking set to retest its 2025 low of just about $78,000

    • At just past 7:00 pm ET, Bitcoin had slumped to exactly $80,000, down -7% over the past 24 hours. The world's largest crypto did manage the most modest of bounces from there, trading at $80,700 at press time.

    • Ether, Solana, and XRP were lower by similar amounts, while cardano (ADA) and DOGE had plunged closer to -12%

  • "There could be a little disruption," said President Donald Trump in a Fox News appearance on Sunday when asked about the impact of his tariff and budget-cutting policies. 

    • "If you look at China, they have a 100-year perspective … we go by quarters," he continued. "What we’re doing is building a foundation for the future."

Headline Roundup
The major headlines driving crypto markets

  • Crypto exchange Gemini files for IPO (CD) 

  • Kraken targets IPO in 2026 (BG)

  • Coinbase CEO Brian Armstrong says shift in U.S. crypto sentiment will lead to thousands of hires in 2025 (CD)

  • Crypto Czar David Sacks breaks down the recently established strategic bitcoin reserve (X)

  • Many investors left unhappy from White House Crypto Summit (NBC)

  • El Salvador acquires 13 Bitcoin, despite IMF pressure to halt purchases (CT)

  • Arkham Intelligence introduces new tagging system to track cryptocurrency transactions of Key Opinion Leaders (CD)

  • Brazil's postal service seeks blockchain and AI solutions to enhance operations (CD)

  • Polymarket's prediction on whether President Donald Trump would create a US Bitcoin reserve in his first 100 days remains unresolved (TD) 

  • Study reveals the Netherlands as the most crypto-obsessed country (TD)

  • Crypto czar David Sacks confirms no plans to sell gold for Bitcoin (TD)  

  • Fold Holdings expands Bitcoin treasury by adding 475 BTC, bringing total to over 1,485 BTC (ST)

  • It´s been 11 years since Dorian Nakamoto social media frenzy (BW)

M&A Announcements

  • Coinbase acquires Iron Fish team to enhance privacy features on Base (CD)

  • Soluna acquires 60 acres in Texas for Bitcoin mining operations (DCD)

Launches

  • Amount of token launches on Pump.Fun drops by 80% (TD)

  • U.S. Housing Agency looks to launch a crypto experiment (GM)

Venture Capital

  • Validation Cloud announces $15M Series A led by True Global Ventures for its web3 infrastructure platform (CT)

  • Crypto brokerage firm August raises $10M Series A from Dragonfly Ventures and others (YF)

  • Bolts Capital backs Galaxis with $5M investment for DeSci initiatve (DT)

  • YZi Labs invests in Tensorplex Labs for decentralized AI (PA)

  • Quick rundown on VC investments made in February (BW)

Regulation

  • Federally regulated banks can engage in cryptocurrency activities without prior approval (CD)

  • Nebraska legislature passes bill to protect citizens from scams (KS)

Cybersecurity

  • US accuses Garantex administrators of allegedly enabling crypto money laundering for terrorists and hackers (TC)

  • U.S. authorities seize $23M of crypto stolen from $150M password manager breach, LastPass (BC)

  • 1inch recovers most of $5M stolen in exploit after negotiating bug bounty with attacker (CT)

Extra Reads

Chart of the Day

A comparison of Bitcoin price action and Global M2 liquidity, a measurement of available money in the global economy

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