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Here's a quick preview of today’s content: Q2 could be a major turnaround to Q1’s crypto market dip, some American’s don’t want government funds used for crypto, crypto is living rent free in Goldman Sachs’ head, Tim Draper has another big bitcoin prediction, ironic scenario of AML Bitcoin creator caught up in illegal activities, and so much more below.

Happy Monday, let’s start the week of right. Let’s dive in.

Market Snapshot

As of 3/16/2025. Data per CoinMarketCap.

  • The cryptocurrency market rallied after two days of sideways trading as U.S. stock markets bounced and the dollar weakened

  • Total crypto market cap rose nearly +2% to $2.84 trillion

    • Bitcoin surged to $84,000 over the weekend before dipping to 83,400 levels over the weekend; Ethereum gained +1.1% to $1,909.

    • XRP increased +2.6% to $2.35, while Solana led with a 7% surge to $132 at on point

    • 80,001 traders were liquidated, totaling $212M, with Bitcoin ($91M) and Ethereum ($30M) leading liquidations

  • Macroeconomic data showed easing inflation pressures:

    • Consumer Price Index rose 3.1% in February, the smallest annual increase since April 2021

    • Producer Price Index remained unchanged in February after a 0.6% rise in January; year-over-year PPI rose 3.4%.

    • Market uncertainty is driven by Federal Reserve policy concerns and geopolitical developments

Headline Roundup
The major headlines driving crypto markets

  • A crypto whale opened up one of the largest shorts ever on Bitcoin with 40x leverage (UT)

  • New finding: a majority of US voters oppose government-funded crypto strategic reserve (TB)

  • Goldman Sachs acknowledges prevalence of crypto in annual shareholder letter for the first time, see what the said here

  • Russia turns to crypto to facilitate oil trade with China and India amid Ukraine sanctions (BM)

  • TON price surges after French authorities return Pavel Durov’s passport (CD) 

  • Fund manager Vaneck seeks SEC approval to launch avax exchange-traded fund (TB)

  • Ark Invest buys even more Coinbase shares after recent dip (TB)

  • World Liberty Financial refutes claims of talks with Binance.us (TB)

  • BNY Mellon is expanding services for stablecoin issuer, Circle (PA)

  • Tim Draper reiterates bullish stance with a big prediction (TD)

  • 21Shares to liquidate Bitcoin and Ether futures ETFs amid wider market downturn (CD)

  • Google joins OpenAI in urging Trump administration to ease AI training restrictions on copyrighted materials (DC)

  • Investment manager Rex Shares launches Bitcoin corporate treasury convertible bond ETF (TB)

  • US bankruptcy court allows 3AC liquidators to expand claim against FTX (DC)

  • ZkSync DAO announces early end to token reward program (TB)

  • The cumulative value of ERC20 tokens on Ethereum has flipped the ETH market capitalization (TD)

  • Activity on Telegram-based Hamster Kombat game's layer 2 blockchain drops sharply (TD)

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Launches

  • Parasol announces trading card game ‘Code of Joker: Evolutions’ will launch on Sui network (DC)

Venture Capital

  • World Liberty Financial raises $550M in latest token sale (TB)

  • RedotPay raises $40M in Series A funding round led by Lightspeed (TB)

  • Aura completes $5M seed financing co-led by Daxos Capital, Manifold Trading, and Selini Capital (AI)

  • Templar Protocol raises $4M pre-seed round from Robot Ventures, Proximity Labs, and others for on-chain lending (FI)

  • Hoskinson Family Office invests $1.5M into MiCA-compliant cardano stablecoin creator, W3i (CC)

  • MetaTdex announces strategic investment into EGGBIT for joint digital asset ecosystem (X)

  • MemeCore receives strategic backing from IBC Group, Waterdrip Capital, and Catcher VC (X)

  • Ordinals project Taproot Wizards leads funding round for bitcoin memecoin launchpad (TB)

Regulation

  • Crypto.com receives limited regulatory license from VARA to offer derivatives in the UAE (TD)

  • Coinbase scores legal victory as Vermont drops case over staking services (DC)

  • Pakistan government establishes Crypto Council to oversee blockchain and digital assets integration (CS) 

  • XION becomes first mainnet blockchain to comply with European Union regulations (CN)

Cybersecurity

  • UK National Crime Agency officer charged for stealing 50 Bitcoin (DC)

  • UK Court of Appeals rejects man’s request to excavate landfill for hard drive holding $676M in Bitcoin (DC)

  • California man sentenced for using Bitcoin to launder proceeds from dark web MDMA sales (DC) 

  • Founder of cryptocurrency exchange tied to AML, Rowland Marcus Andrade, convicted of wire fraud and money laundering (CT)

  • Lazarus Group now holds 13,562 BTC (~ $1.1B) after converting stolen ETH to BTC from the Bybit hack (CT)

Extra Reads

Chart of the Day

This week 5 years ago… Perspective is everything. HODL 💎✊

Meme Dump

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