Good Morning,

Here's a quick preview of today’s content: Executives are looking for more than just a strategic bitcoin reserve, markets continue to plummet as Trump goes back and forth with tariffs, South Korea may be next to implement a bitcoin reserve, web3 M&A + VC activity heat up in February and March, Japan is slashing bitcoin capital gains tax, and so much more.

💎Diamond Hands, folks. Diamond. Hands. Let’s dive in.

Market Snapshot

As of 3/11/2025. Data per CoinMarketCap.

  • Bitcoin dropped -4% in the past 24 hours to trade at around $79,000

    • Ethereum slipped -3.4% to $1,960

    • XRP fell -2% to $2.09

    • Solana plunged -7% to $119

  • The cryptocurrency market declined by -5% in the past 24 hours, reducing its total market capitalization to $2.7T

    • In the same period, 235,075 leveraged traders were liquidated, with total liquidations reaching $682M – Bitcoin accounted for $272M, followed by Ethereum at $115M, while altcoins contributed $69M

  • The volatility follows Friday’s release of the February US jobs report, which revealed that the US economy added only 151,000 jobs in February, falling short of the expected 170,000. Additionally, the unemployment rate rose slightly to 4.1%, as federal layoffs and hiring freezes persist

  • The stock market showed significant loses on Monday with over $1.5T lost in a single day

    • Traders are pulling back ahead of crucial economic reports expected later this week—including the latest Producer Price Index (PPI) and Consumer Price Index (CPI) updates—that will indicate whether inflation is being kept under control.

Headline Roundup
The major headlines driving crypto markets

  • Trump declined to rule out the possibility of a recession with his newest comments you can read here

  • Saylor’s Strategy plans to offer up to $21B in preferred stock to boost Bitcoin holdings (CB)

  • Crypto exchange Coinbase to offer Bitcoin and Ethereum 24/7 futures trading for US clients (DC) 

  • Trump's executive order aims to roll back Biden's anti-crypto banking rules and target key Federal Reserve policies (DC) 

  • Anthony Scaramucci predicts institutions and countries will increasingly buy Bitcoin in the coming months (DH) 

  • Trump Administration’s Crypto Czar suggests US could add more Bitcoin to strategic reserve (DH) 

  • Japan’s ruling party announces reduction in Bitcoin capital gains tax from 55% to 20% (TD)

  • South Korea’s Democratic Party teases a bitcoin reserve ahead of election (CN)

  • Garantex offers lifeline for customers amid exchange takedown (TC) 

  • Rex Shares and Osprey Funds file for MOVE ETF listing with SEC ahead of Movement’s mainnet launch (BL)

  • Mt. Gox moves $900M of Bitcoin, raising investor setniment concerns (CP)

  • World Liberty Financial faces critics with Sui partnership (CT)

  • PancakeSwap hits highest monthly trading volumes since 2021 (TD)

M&A Announcements

  • Sol Strategies acquires Laine, doubling its staked SOL position (BW)

  • Mysten Labs acquires Parasol, a game development platform (BI)

  • imgnAI merges with Ethereum-based NovaDAO (X)

Launches

  • WolvesDAO's WOOF token launches on Avalanche, crashes in price (BW)

  • Singapore Exchange to launch Bitcoin perpetual futures contracts in H2 2025 for institutional investors (TD) 

Venture Capital

  • Venture capital investment in blockchain and cryptocurrency startups surges in February, boosted by DeFi projects (TV)

  • Gnosis announces investment into defi platform Balmy (X)

  • Harmonix receives backing from Skyland Ventures for next-gen defi (X)

  • A41 joins as a strategic investor in YieldNest (X)

Regulation 

  • El Salvador and Paraguay collaborate with official crypto regulation agreement (CD)

  • Thailand’s SEC approves Tether's USDT and Circle's USDC for trading on digital asset exchanges (DC) 

  • Spain’s BBVA to enable customers to buy, sell, and manage Bitcoin and Ethereum via its app (DC) 

  • Pakistan explores blockchain technology to simplify remittance process (CD)

  • Cayman Islands to require crypto custody and trading firms to obtain license (CD)

  • Utah lawmakers approve crypto bill, remove state investment provision (DC)

  • Crypto executives are still awaiting real crypto regulatory guidelines rather than focus on the bitcoin reserve (CT)

Cybersecurity

  • $140k signature verification exploit identified on Arbitrum by CertiK (CN)

  • Binance bans market maker for misconduct with GoPlus Security and MyShell tokens (DC)

  • California Department of Justice warns of 7 new crypto and AI scams that have stolen nearly 8 figures (CT)

  • The use of crosschain bridges and crypto mixers by crypto hackers to cash out (TV)

Extra Reads

Chart of the Day

The Fear & Greed Index for crypto hits lowest level in 2+ years of 17, ‘Extreme Fear’. One year ago it was ‘Extreme Greed’ at 92. The current price of BTC is 20% higher. #HODL

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