News Analysis PLUS: World Liberty Financial’s token sale, Coinbase in India, Ripple in Dubai
It was per week of purple in crypto and conventional markets, with bitcoin plummeting under $80K on March 10 and ETH falling to $1,821 the identical day. So a lot for the “Trump Bump.” With the brand new administration on a tariff-tear this week, the markets had been spooked a few recession and crypto was not immune.
Still, progress in digital belongings was throughout, and our reporters reported all of it with alacrity. BlackRock’s bellwether BUIDL fund topped $1 billion and tokenized treasuries hit $4.2 billion, Kris Sandor reported. MoonPay, a funds aggregator, made an essential stablecoin acquisition, Will Canny wrote. Ripple gained a payments license in the UAE (Shaurya Malwa). OKX gained a license to operate in Europe, Camomile Shumba reported. Coinbase introduced plans to supply 24/7 futures trading in the U.S., Helene Braun reported.
There was additionally huge regulatory information. The U.S. House voted to overturn the IRS’s controversial “broker rule” in a big win for DeFi operators. And a Senate committee voted to ship the GENIUS stablecoin invoice to the ground, ahead of probable approval there.
The Trump Family continued to be front-and-center within the crypto information. World Liberty Financial completed a $590 million token sale (for accredited buyers for now), with an help from adviser/investor and TRON founder Justin Sun. The Wall Street Journal reported {that a} Trump household consultant also explored buying a stake in Binance.US, through World Liberty Financial.
From our Asia group, Sam Reynolds examined how the latest draft of the GENIUS act goals to separate stablecoin regulation between state and federal authorities.
Parikshit Mishra reported on Coinbase returning to India after a two-year hiatus, setting off dialogue about the way forward for crypto in India.
Shaurya Malwa continued his wonderful reporting on XRP, pushing out a number of stories on Ripple. Malwa additionally reported on the implications of over-leveraging within the crypto market, as Hyperliquid lost $4 million due to an enormous leveraged commerce in ETH.
Market maven, Omkar Godbole, pushed out a well timed piece on bitcoin’s bullish signal ahead of the U.S. CPI report, and was additionally early to identify how Eric Trump’s tweet on crypto were setting up short-term traders for disappointment.
Meanwhile, Tom Carreras had an excellent feature on how Bitdeer, a Singapore-based miner, hopes to shake up the mining machine market.
Hopefully subsequent week brings higher information within the markets. But, both approach, our reporters will probably be there to cowl what issues.
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