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BlackRock has withdrawn 4,376 BTC ($298 million) from and deposited 567 BTC ($38 million) to Coinbase Prime over the past 12 hours, according to data from Lookonchain.

The recent increase in global liquidity is largely driven by China, which explains why gold has been rising while Bitcoin has seen a correction, according to Chris Tipper, an analyst at the Australian-based crypto investment firm Ainslie Wealth. In a post on X, Tipper noted that while global liquidity stands at around $190 trillion, the People's Bank of China (PBoC) has been the primary contributor to its recent growth. The PBoC is expected to inject a similar amount of liquidity this year as the $1 trillion it supplied in 2023. However, due to the ban on BTC and cryptocurrency investments in China, this capital has flowed into gold and other real-world assets (RWA). Tipper argued that Bitcoin's recent decline is not due to a breakdown in its correlation with global liquidity, but rather a shift in the composition of that liquidity. He predicted that BTC will enter a recovery phase once Western liquidity momentum accelerates, driven by factors such as market intervention by the U.S. Federal Reserve or a weaker dollar.

Bitwise Chief Investment Officer (CIO) Matt Hougan stated on X that adding BTC to a traditional 60/40 portfolio, comprised of 60% stocks and 40% bonds, improves returns. He noted that adding BTC to such a portfolio improved returns with 100% probability over a three-year holding period and with 93% probability over a two-year period. Hougan explained that Bitwise first published this research in 2018 and has applied the same methodology every year since, with consistent results. He added that the optimal BTC allocation is 5% and that regular rebalancing helps improve returns.

The Pudgy Penguins (PENGU) team deposited 450 million PENGU, worth $3.12 million, to Binance seven hours ago, Onchain Lens reported. Such deposits to exchanges are typically interpreted as an intention to sell.

The Bitcoin transferred from a U.S. government-controlled wallet on March 3 was from funds seized from Miguel Villanueva, The Block reported. A government address moved 0.3348 BTC, worth $22,658, to three new addresses. Following the three transactions, the entire balance of the wallet labeled as belonging to Villanueva was depleted. While details of the original seizure are unknown, The Block noted that the transfer aligns with a plan to create a strategic reserve of seized Bitcoin rather than immediately selling it.

Token securities are not a temporary trend but are poised to become a pillar supporting the structural convergence of the capital market, said Lee Eog-weon, chairman of South Korea's Financial Services Commission (FSC), on March 4. He added that the government will overhaul the entire system, including issuance, distribution, and disclosure, to foster the emergence of diverse and innovative token securities. The Herald Business reported that Lee made the remarks at the kick-off meeting for a joint public-private "Token Securities Council," which will design the system's detailed framework and infrastructure. A law to establish a regulatory framework for token securities, which passed the National Assembly in January, is scheduled to take effect on Feb. 4 of next year following the finalization of subordinate regulations and the construction of necessary infrastructure.

The U.S. banking sector's opposition to paying rewards on stablecoins under the proposed CLARITY Act is likely to fail, according to an analysis by investment bank TD Cowen. The Block reports that TD Cowen noted in a recent paper that the banks' logic for opposing consumer rewards is politically unsustainable. However, the bank warned that a prolonged conflict between the banking and crypto industries could jeopardize the passage of the market structure bill itself. TD Cowen also explained that while the U.S. Office of the Comptroller of the Currency (OCC) previously moved to block indirect payments of stablecoin rewards, the action is largely insignificant as the OCC lacks discretionary power in interpreting the law.

Binance has announced the temporary suspension of deposits and withdrawals on the Ethereum (ETH) network for wallet maintenance, starting at 5:55 a.m. UTC on March 4. The exchange stated that the maintenance is expected to last for approximately one hour.

The Altcoin Season Index from crypto data aggregator CoinMarketCap stands at 36, unchanged from yesterday. The index is calculated by comparing the price performance of the top 100 cryptocurrencies, excluding stablecoins and wrapped coins, against that of Bitcoin. An "altcoin season" is declared when 75% of these top 100 coins outperform Bitcoin over the preceding 90 days. The opposite scenario is considered a "Bitcoin season." A score closer to 100 indicates a stronger altcoin season.

Cryptocurrency adoption is surging in Latin America, with Argentina leading the charge, DL News reported, citing a report from crypto exchange Lemon. Last year, the region's crypto adoption rate was three times faster than that of the U.S., with Argentina ranking first in monthly active users. While Argentinians have historically used stablecoins to combat inflation, usage among locals and tourists increased last year due to the expansion of payment infrastructure. Peru also showed growth in areas such as crypto-related app usage and exchange trading volume.

The Crypto Fear & Greed Index has fallen four points to 10, remaining in the "Extreme Fear" range, according to data from Alternative. The index, which shifted from "Fear" to "Extreme Fear" on Jan. 30, has stayed at the latter level since. The metric measures market sentiment on a scale from zero (extreme fear) to 100 (extreme optimism). It is calculated based on volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin's dominance (10%), and Google search volume (10%).

Cryptocurrency infrastructure firm BitGo's European entity has officially launched its Crypto-as-a-Service (CaaS) across the entire European Economic Area (EEA), Cointelegraph reported. This enables European fintech companies and banks to legally offer cryptocurrency services to their customers using BitGo's infrastructure, without the need to build their own complex regulatory systems.

Bitcoin mining firm MARA Holdings (MARA), formerly Marathon Digital, has denied rumors of a large-scale sell-off of its Bitcoin holdings. According to Cointelegraph, Robert Samuels, the company's Vice President of Investor Relations, clarified that the core of its approach to its Bitcoin treasury has not changed. He acknowledged that a 10-K report included language about expanding the company's strategy to permit the sale of Bitcoin from its balance sheet. However, Samuels stated this was not an unconditional plan to sell but rather a move to secure the option to trade at its discretion based on market conditions and capital allocation priorities. MARA Holdings currently holds 53,822 BTC.

President Donald Trump has urged the passage of the crypto market structure bill known as the CLARITY Act. In a post on Truth Social, Trump criticized banks for holding the bill hostage, stressing that it must be passed as soon as possible to prevent the U.S. from losing its crypto leadership to countries like China. He also pointed to the GENIUS Act, a stablecoin law that took effect last July, accusing the banking sector of exploiting a loophole—a general ban on paying interest on stablecoins—to stifle the crypto industry.

Coinbase has announced the addition of Limitless (LMTS) to its listing roadmap.

a16z Crypto has criticized what it describes as the indiscriminate misuse of the term ZK (zero-knowledge) within the industry. The firm stated that many zkVMs (zero-knowledge virtual machines) currently on the market are not genuinely zero-knowledge. According to a16z, most of these systems are not zero-knowledge without undergoing a separate, costly "wrapping" procedure. This process, which involves recursively proving one proof within another zero-knowledge proof system, is not only computationally expensive but also often requires a trusted setup, forcing a compromise on transparency. The firm added that the industry is using "ZK" as a shorthand for systems with small proof sizes and fast verification speeds. However, a16z emphasized that the true essence of ZK lies in privacy protection, specifically in not revealing a prover's sensitive data.

Ethereum co-founder Vitalik Buterin stated that while he does not believe Ethereum will solve all the world's problems, the technology has the potential to bring fundamental change amid growing concerns about government and corporate overreach, The Block reported. He emphasized that viewing cryptocurrency and Ethereum as more than just an industry could play a crucial role in reducing the risk of a single entity completely dominating the digital world. On X, Buterin explained that Ethereum's role is to create a digital space where different entities can cooperate and interact, adding that now is the time to focus more on this function. He cautioned against viewing crypto simply as a technology for efficiency or flashiness, in the vein of companies like Apple or Google. Instead, Buterin argued that Ethereum should be seen as part of an ecosystem building a form of safe zone technology. He described this as free, open-source technology that allows people to live, work, communicate, manage risk, build wealth, and collaborate on common goals in a way that is optimized for robustness against external pressures. Achieving this, he said, could lead to de-totalization.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

The three major U.S. stock indices closed lower today. - S&P 500: -0.94% - Nasdaq: -1.02% - Dow Jones: -0.83%

The governor of Indiana has signed Bill 1042, which gives public pensions the option to invest in cryptocurrency, Bitcoin Magazine reported via X.

U.S. hedge fund veteran Ray Dalio said on a podcast that Bitcoin cannot compete with gold due to structural flaws, including a lack of privacy and the risk of quantum computing. According to U.Today, he argued that central banks will not seek to buy and hold Bitcoin. Dalio added that the cryptocurrency is too highly correlated with tech stocks and that its scale makes it susceptible to manipulation.

Transportation blockchain solutions provider TCS Blockchain is adopting PayPal's stablecoin, PYUSD, The Block reported. The company plans to use the stablecoin to offer same-day financing and on-chain payments for freight invoices. This move is expected to cut costs by 90% and significantly reduce payment times compared to traditional remittance processes.

The Financial Action Task Force (FATF) warned in a recent report that stablecoins are increasingly being used for sanctions evasion and money laundering, CoinDesk reported. The report states that stablecoins are now the most-used virtual asset for illicit transactions by several countries, including Iran and North Korea, and account for the majority of illegal on-chain activity. The estimated scale of fraud and illicit activity involving stablecoins in 2024 is approximately $51 billion. The FATF stressed that as stablecoin adoption accelerates, regulators must move quickly to close compliance gaps.

Global investment bank Mizuho Securities has raised its price target for Circle from $90 to $100 while maintaining a neutral investment rating, CoinDesk reported. Mizuho attributed the 20% rise in Circle's stock price this week to surging oil prices amid heightened tensions in the Middle East. The firm noted that this has lowered expectations for a U.S. Fed rate cut, which is consequently expected to increase Circle's interest income from its reserves.