Live Feed

BitMEX co-founder Arthur Hayes said he will not invest a single dollar in Bitcoin until the U.S. Federal Reserve (Fed) begins printing money. According to Cointelegraph, Hayes stated on his YouTube channel that the longer the war in Iran continues, the more likely the Fed is to print money. He added that if he had a dollar right now, he would wait rather than invest it in Bitcoin, and would only start buying when the Fed begins to significantly ease its monetary policy.

Coinbase CEO Brian Armstrong thanked President Donald Trump for his efforts to make the U.S. the world's crypto capital. In a social media post, Armstrong stated that building the future of financial services is crucial for the U.S. in its competition with China and other overseas rivals. He also shared a post from President Trump on March 4 that urged the passage of a market structure bill.

Lambda256, a blockchain-focused affiliate of Dunamu, is set to launch a strategic council focused on stablecoins, Edaily reported. Dunamu operates Upbit, South Korea's largest digital asset exchange. The company announced today that it has signed a three-party memorandum of understanding (MOU) with law firm Yulchon LLC and SAS Korea. The agreement aims to establish a strategic body to address regulations concerning stablecoins and digital assets, marking the start of full-scale cooperation between the firms in this area.

Large-scale investors are taking long positions on crude oil even as its price falls below $85, Onchain Lens reported. A whale address starting with 0x547 opened a 20x leveraged long position on crude oil (CL) worth $8.95 million. Another address, starting with 0x7f5, deposited $5 million in USDC before opening a 1x leveraged long position on crude oil. Additionally, an address beginning with 0x0e0 established a 7x leveraged long position on crude oil valued at $3.5 million. This same address also holds a total of $14.5 million in 5x leveraged short positions on BTC and ETH.

Following a large-scale liquidation event on the crypto lending protocol Aave, which saw $27 million in positions closed in a single day, the project has identified the cause as a configuration error in its risk management tool (CAPO). Aave founder Stani Kulechov explained on X that CAPO is an external risk management tool used by the Aave protocol. He stated that a technical configuration error led to the liquidation of some positions that were near their liquidation thresholds. During this process, a total of 345 ETH was paid to liquidators in the form of excess liquidation profits, and no bad debt was incurred. Kulechov added that the configuration issue has now been resolved and that discussions are underway to compensate affected users with the fees generated from the liquidations.

South Korean exchange Coinone's market share has surged from a 1-3% range at the start of the year to over 10% early this month, SBS Biz reported. Data from crypto data provider CoinMarketCap shows the exchange's share even surpassed 20% on March 8. The growth is attributed to factors including its internal control processes for asset payments and promotional zero-fee trading events.

South Korea's National Tax Service (NTS) is launching a task force to improve its management of virtual assets, Money Today reported. The move is intended to prevent the recurrence of security breaches. At a briefing before the National Assembly's Finance and Economy Planning Committee on March 11, NTS Deputy Commissioner Lee Seong-jin said the task force would thoroughly analyze the cause of recent problems and establish comprehensive prevention measures to ensure such incidents do not happen again. The decision follows a recent event on Feb. 26, when the NTS inadvertently exposed sensitive information in a press release publicizing the seizure of crypto from high-value delinquent taxpayers. The leak led to the theft of coins worth around 6 billion won.

An anonymous whale withdrew 44,888 ETH, worth $92.97 million, from Kraken early today, AmberCN reported. The assets were then split between two addresses. Withdrawals from exchanges are typically interpreted as a sign of intent to hold.

A lack of buying pressure to absorb Bitcoin's selling supply could lead to continued structural downward pressure, according to an analysis. Mignolet, a CoinNess content creator and crypto analyst, explained that while the recent price drop has eased some market overheating, the situation is not fully resolved. He noted that signs of a widening supply-demand imbalance are re-emerging, meaning there is insufficient demand to absorb the sell-side volume entering the market. Mignolet warned that if there are no signs of quiet accumulation from whales during the current sideways trading phase, a previously mentioned bearish pattern could become more pronounced. He concluded that although a short-term rebound might create a sense of optimism, Bitcoin will likely continue to face downward pressure if this structural imbalance persists.

The International Energy Agency (IEA) has proposed its largest-ever release of strategic petroleum reserves to combat soaring crude oil prices amid the war between the U.S.-Israel and Iran, The Wall Street Journal reported. Government officials stated that the release would exceed the 182 million barrels that IEA member countries released in two tranches in 2022 during the war in Ukraine. The proposal was discussed at an emergency meeting of energy officials from the 32 IEA member countries on Tuesday, with a final decision expected today.

The Altcoin Season Index from crypto data aggregator CoinMarketCap is currently at 36, unchanged from yesterday. The index is calculated by comparing the price performance of the top 100 coins by market capitalization, 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, while the opposite is considered a 'bitcoin season.' A reading closer to 100 signifies an altcoin season.

Of the 633 virtual assets available on South Korea's five largest crypto exchanges, only 36 are listed on all of them, representing just 5.7% of the total as of January, NewsPim reported. The exchanges are Upbit, Bithumb, Coinone, Korbit, and Gopax. Delisting standards also vary widely. Over the past year, a total of 74 virtual assets were delisted across the platforms, but only two, EOS (EOS) and Hippo (HPO), were removed by all five exchanges. The Digital Asset eXchange Alliance (DAXA) explained that its model practices for trading support serve as a minimum common standard. It noted that differences in listings occur because each exchange applies its own additional policies and review criteria.

Binance founder Changpeng Zhao's net worth has reached $110 billion, making him the 17th wealthiest person in the world, Forbes reported. This places him ahead of Microsoft founder Bill Gates, who is ranked 19th with a net worth of $108 billion. Zhao's rise in the rankings is attributed to a recovery in Binance's corporate valuation, which is currently estimated at around $100 billion. Zhao holds a 90% stake in the company.

The Fear & Greed Index from crypto data provider Alternative registered 15, up two points from the previous day. The index shifted from "Fear" to "Extreme Fear" on Jan. 30 and has remained in that stage since. The index indicates extreme market fear as it approaches zero and extreme optimism as it approaches 100. The Fear & Greed Index is calculated based on volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin's market cap dominance (10%), and Google search volume (10%).

South Korea is moving to cap ownership stakes in crypto exchanges at 20% for individuals, including related parties, and 34% for corporations, News1 reported. The ruling Democratic Party's Digital Asset Task Force and South Korean financial authorities have reportedly reached a preliminary agreement to include these limits in a forthcoming basic act on digital assets. The proposal is slated for final confirmation at a party-government consultative meeting. While these proposed ceilings are higher than the 15-20% range previously discussed, major shareholders of leading exchanges like Upbit, Bithumb, and Korbit would still be required to sell off significant portions of their holdings.

The crypto lending protocol Aave experienced large-scale liquidations totaling $27 million over the past 24 hours, CoinDesk reported. While initial speculation pointed to a problem with an oracle from risk management firm Chaos Labs, the company clarified that the issue was not with the oracle itself. Instead, Chaos Labs stated that a misconfiguration of Aave's internal safety mechanism, known as CAPO, was the cause. The firm explained that this led to wstETH being undervalued, which pushed some loan positions below their liquidation thresholds and triggered the forced liquidations. Liquidation bots earned 499 ETH in profits during the process.

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

South Korea's Financial Supervisory Service (FSS) has concluded its month-long on-site inspection of Bithumb after the exchange mistakenly distributed Bitcoin worth approximately 60 trillion won (about $43.5 billion), SBS Biz reported. The regulator is expected to determine the severity of sanctions following an internal review. The investigation reportedly focused on the circumstances of the so-called 'ghost coin' incident, where the amount of Bitcoin paid out significantly exceeded Bithumb's actual holdings, and on the exchange's internal control systems.

Matt Hougan, Chief Investment Officer (CIO) of Bitwise, has reaffirmed his prediction that Bitcoin could reach $1 million in the future. According to The Block, Hougan stated that the current store of value market is worth approximately $38 trillion, with gold accounting for $36 trillion and Bitcoin for $1.4 trillion. He projected that if this market grows at a pace similar to the last 20 years, it could reach $121 trillion within the next decade. In that scenario, Hougan emphasized, Bitcoin would only need to secure a 17% market share for its price to reach $1 million. Hougan drew a parallel to the launch of gold ETFs in 2004, when the gold market was valued at just $2.5 trillion. He noted that it has since grown to nearly $40 trillion, influenced by factors such as rising government debt and geopolitical uncertainty. He predicted that Bitcoin's price will also rise, driven by its entry into the mainstream financial system led by spot ETFs, increased institutional investment, and decreasing volatility.

U.S. investment bank Jefferies said in a report that while stablecoins are unlikely to trigger a sudden withdrawal of U.S. bank deposits, the spread of digital dollars could become a persistent drag on bank profits. According to CoinDesk, Jefferies estimates that stablecoin adoption could reduce core bank deposits by 3-5% over the next five years. This would likely increase funding costs and worsen bank profitability, with the report estimating an average reduction in bank profits of about 3%.

U.S. investment bank TD Cowen has analyzed that Congress may be moving toward a permanent ban on issuing a central bank digital currency (CBDC). According to The Block, the bank noted that while this could benefit stablecoin issuers, it may also create another obstacle to passing the crypto market structure bill (CLARITY). TD Cowen expects a provision banning a CBDC to be included in a housing bill that will be submitted to President Donald Trump next month, adding that this ban is more likely to be permanent than temporary.

U.S. President Donald Trump announced that ten deactivated minelaying vessels have been struck and completely destroyed, adding that further strikes will follow. The action follows a previous warning from the president that Iran would face unprecedented military consequences if it laid mines in the Strait of Hormuz and failed to remove them immediately.

Multicoin Capital predicts that the next-generation cryptocurrency market will evolve from a model of direct token purchases to one of "internet labor markets," where users earn crypto by contributing work, CoinDesk reported. Shayon Sengupta, an investment partner at Multicoin, explained that while crypto has traditionally been about buying and trading, the future market could be driven by earning tokens instead. He added that this transition from speculation to income generation is the core of the concept, where users would provide work or resources to decentralized networks in exchange for token rewards.

An Ohio court has denied a request from Kalshi for a preliminary injunction to block the enforcement of a state law regulating sports betting. According to The Block, Kalshi had previously filed the injunction, arguing that its event contracts are regulated by the Commodity Futures Trading Commission (CFTC). The company contended that its right to operate as a federally regulated prediction market supersedes state-level sports betting regulations. Kalshi said it plans to appeal the court's decision.

The three major U.S. stock indices closed mixed today. - S&P 500: -0.21% - Nasdaq: +0.01% - Dow Jones: -0.07%