Good Morning,

Here's a quick preview of today’s content: In Q1, crypto is down ~ 25% YTD across the board… Plus BitMEX cofounders pardoned, Bitcoin ETFs see 10 day hot streak even in turbulent market times, Upbit increases dividends threefold, Circle cancels a planned merger via SPAC, FDIC gives banks the green light, and so much more below.

Happy Monday – Another week hoping for a real altcoin bull run… Let’s dive in.

Market Snapshot

As of 3/30/2025 at 1930 UTC. Data per CoinMarketCap.

  • Cryptocurrency prices have experienced a decline on Friday that carried into the weekends

    • The CoinDesk 20 Index, lost around -3.3% of its value over the period. The sharp drop brings BTC’s performance down -1.7% for the past week, while CD20 is down nearly -5%.

  • The drop appears to be part of a wider derisking move among traders, as investors are anticipating the impact of President Donald Trump’s reciprocal tariffs that are set to come into effect on April 2

    • The move heightened after core Personal Consumption Expenditures (PCE) data came in hotter than expected on Friday

    • Gold-backed cryptocurrencies are, in fact, countering the market’s bearish trend – tokens including PAXG and XAUT are up +0.7% to over $3,100 These tokens are up more than +18% year-to-date

Headline Roundup
The major headlines driving crypto markets

  • Trump pardons BitMEX co-founders, including Arthur Hayes, full reports here

  • Galaxy Digital reaches $200M settlement over Luna collapse (DE)

  • SEC formally dismisses enforcement action against Kraken, ConsenSys, Cumberland DRW (TB)

  • 'Tiger King' Joe Exotic launches Solana-based meme coin from jail (DE)

  • GameStop prices Bitcoin senior notes at $29.85 (CD)

  • Crypto.com announces SEC investigation has concluded with no plans to pursue charges (TB)

  • Terraform Labs to open crypto creditor claims portal on March 31 amid bankruptcy proceedings (TB)

  • U.S. spot Bitcoin ETFs see 10-day inflow streak amid improving macroeconomic conditions (CN)

  • Tether CEO open to U.S. domestic stablecoin amid regulatory shifts and audit push (TB)

  • Bitcoin miner Marathon Digital plans $2B at-the-market stock sale to buy more BTC (CD)

  • Bitcoin dominance reaches 58% as altcoin season remains elusive (TB)

  • Dominari Holdings adopts corporate Bitcoin strategy, invests $2M in BlackRock's Bitcoin ETF (TB)

  • Pump.fun becomes leading DEX on Solana with $1.8B volume and 59% market share in 24 hours (TD)

  • Arbitrum gaming catalyst DAO appoints new relations representative (BW)

  • Upbit parent company Dunamu triples shareholder dividends following 85% YoY profit growth (TB)

  • 25 key crypto hires, promotions, and exits in March 2025 (TB)

  • Democrats foresee regulatory issues with Trump’s crypto entity (WSJ)

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M&A Announcements

  • Merger between Concord and Circle in SPAC deal terminated by boards (FF)

Launches

  • HashKey and Bosera to launch tokenized money market ETFs as part of Hong Kong's Project Ensemble initiative (TB)

  • CoreWeave nets $1.5B in below-target IPO; stock to launch Friday on Nasdaq, Bloomberg reports (TB)

  • COTI V2 mainnet launches, enhancing privacy and compliance with Layer 2 solutions (BW)

Venture Capital

  • French state bank Bpifrance plans €25M crypto fund to invest directly in digital assets and support French companies (TB)

  • Tandem, the venture arm of Offchain Labs, makes strategic investment into Fhenix to integrate FHE (PN)

Regulation

  • 5,000+ banks able to engage in crypto activities without prior approval according to FDIC (RT)

  • South Carolina bill proposes allowing state treasurer to invest 10% of state funds in Bitcoin (BM)

  • Arizona regulators focus on crypto kiosk regulations (AM)

  • Japan’s FSA plans to revise Financial Instruments and Exchange Act to provide legal status for digital assets (RT)

Cybersecurity

  • Coinbase user scammed out of $34M in Bitcoin, according to ZachXBT (TB)

  • 100,000+ Gemini and Binance users have info leaked by Darkweb actors (CT)

  • Why crypto exchanges get hacked by TradFi exchanges don’t (FE)

Extra Reads

  • Tezos Co-Founder Arthur Breitman joined The Scoop to discuss the uranium market and how Uranium.io is looking to make the commodity more accessible to retail investors through tokenization

    Here’s the full breakdown here

  • In the world of traditional finance, evaluating a company’s success usually means tracking revenue growth, earnings per share, or return on equity. But what happens when the core of a company’s strategy isn’t selling products or services, but accumulating Bitcoin?

    Here’s how to measure the success of a Bitcoin Treasury company

Chart of the Day

Bitcoin has jumped by 7 orders of magnitude in 15 years 👀🚀

Meme Dump

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

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