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🇧🇷 Brazil Eyes Crypto Taxation Changes in New Bill
Brazil is planning to change the way how cryptocurrencies are being taxed. A new bill that deals with investment taxation for individuals will propose to change how crypto is considered, allowing it to be taxed similarly as shared and capital instruments with a variable exchange rate. According to the proposal to be presented in the coming days to the National Congress, crypto investors will have to pay 15% of the income of the operations made with cryptocurrency.
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🔵 JPMorgan says Ethereum could avoid 'security' label amid decreasing Lido share
The declining market share of Lido, Ethereum's largest liquid staking protocol, indicates that Ethereum would likely avoid being classified as a security in the future, according to JPMorgan analysts. "The share of Lido in staked ETH has decreased further from around one third a year ago to around a quarter at the moment," JPMorgan analysts, led by Nikolaos Panigirtzoglou, wrote in a report on Wednesday.
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🟠 Binance Says Compliance Chief Detained in Nigeria Has No Decision-Making Power at Firm
Binance's Head of Financial Crime Compliance Tigran Gambaryan, detained in Nigeria by local authorities, has no decision-making power at the company and should not be held responsible in ongoing discussions between the exchange and government officials, the crypto exchange said in a Wednesday statement. Nigerian authorities invited, then detained, Gambaryan and the exchange's Regional Manager for Africa, Nadeem Anjarwalla, in February.
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💰 Bitcoin Dips Below $66,000 Ahead of Fourth Halving, Loses Over 5% in 24 Hours 📉
The price of bitcoin experienced a decline on Monday, near 10:00 p.m. Eastern Time (ET), tumbling to a position slightly over the $66,000 mark. By 6:30 a.m. the following day, it had edged down further to reach its intraday low of $65,480 per unit. In the wake of this downturn, the crypto derivatives markets saw the liquidation of bitcoin long positions amounting to $135.3 million wiped out.
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🇹🇭 Thai Crypto Exchange Bitkub Plans 2025 IPO: Bloomberg
The owner of Thai crypto exchange Bitkub Online plans to sell shares to the public next year and is in the process of hiring financial advisers, Bitkub Capital Group CEO Jirayut Srupsrisopa told Bloomberg. Thailand's biggest crypto exchange provides about 80% of the Bangkok-based parent's profit and is 9.2% owned by Asphere Innovations. The initial public offering (IPO) is expected to value the exchange at around 6 billion baht ($165 million), Jirayut said.
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💰 FTX estate's $7.5 billion sale of locked solana attracts strong interest
The FTX estate’s sale of 41 million locked solana worth $7.5 billion has seen heavy demand, according to nine sources close to the discussions. Galaxy Asset Management was picked by the FTX estate in September 2023 to facilitate token sales as the estate reckoned that it would provide the services in a cost-effective and discrete manner. The registered investment advisor is allocating the tokens to prospective bidders, some of whom are raising funds to make larger bids.
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💰 MicroStrategy trades at 'unjustifiable premium' to bitcoin, says firm shorting company's stock
Investment firm Kerrisdale Capital has argued in a new research report that MicroStrategy's shares have become overvalued. "We are long bitcoin and short shares of MicroStrategy, a proxy for bitcoin which trades at an unjustifiable premium to the digital asset that drives its value," Kerrisdale Capital said in the report. "Shares of MicroStrategy have soared amid a recent rise in the price of bitcoin but, as is often the case with crypto, things have gotten carried away."
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💰 Ripple execs reveal SEC seeking $2 billion in fines, say regulator has ‘become unhinged’
Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty have revealed that the SEC is seeking a staggering $2 billion in fines and penalties. According to the company’s executives, the fines have been proposed in a court filing that will be unsealed on March 26. Garlinghouse said the SEC is seeking heavy penalties despite its claims involving “no allegations … of fraud or recklessness.” He added that there is “absolutely no precedent” for the request and asserted that Ripple’s response will “expose” the SEC.
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💰 Bitcoin’s 15% Correction Propelled by Profit-Taking but Bull Cycle Is Far From Over: CryptoQuant
Bitcoin (BTC) had entered a period of price correction following its ascent to an all-time high of $73,700. Miners, whales, and other market participants, including large investors, had begun selling their BTC to make profits. However, analysts at CryptoQuant believe the Bitcoin bull cycle is far from over, as price valuation metrics are largely shy from levels seen in past market tops.
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🇪🇺 EU enacts ban on anonymous crypto transactions via self-custody wallets
In a recent regulatory change, the European Union (EU) has prohibited cryptocurrency transactions of any value made through unidentified self-custody crypto wallets. This update is a component of the region's newly implemented Anti-Money Laundering (AML) regulations. According to a post by Patrick Breyer, a member of the European Parliament for the Deutsch Piraten Partei, the majority of the EU Parliament’s lead commission endorsed the prohibition on March 19.
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🇮🇳 Crypto Exchange Okx Shuts Down Services in India Due to Regulations — Advises Users to Withdraw All Funds
Cryptocurrency exchange Okx has notified its users in India that the platform is shutting down services in the country “due to local regulations.” The exchange has advised users in India to “withdraw all funds” from their accounts by the end of April. The Indian government has not regulated crypto and the country’s finance minister recently stressed that crypto assets are not currencies.
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🏦 Coinbase legal chief argues SEC has ‘no good reason’ to deny spot 🪙 Ethereum ETFs
Amid ongoing speculation surrounding the prospect of spot Ethereum exchange-traded fund approvals in the United States, Coinbase Chief Legal Officer Paul Grewal said the Securities and Exchange Commission has “no good reason” to deny the ETF applications. “Sigh... again with the ETH misinformation as we await a decision on ETH ETPs,” Grewal wrote on X. “Millions of Americans hold ETH; it has been vital to crypto since its 2015 launch; and ETH is a commodity, not a security.”
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❄️ TON Foundation launches Toncoin community rewards initiative worth over $100 million
The TON Foundation, a non-commercial group of contributors behind The Open Network (TON) blockchain, has launched the first round of a Toncoin community rewards initiative named The Open League, valued at more than $115 million at current prices. Following a successful pilot program, The Open League will distribute 30 million Toncoin to competing projects and TON ecosystem users starting April 1.
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🪙 Bitwise CIO says spot Ethereum ETFs could attract more assets if they launch later than May
While there has been a lot of speculation and desire for spot ether ETFs to gain approval in May, Bitwise CIO Matt Hougan said it might be beneficial for it to move more slowly. May is the first main deadline for the SEC to approve or deny the first pending spot ether ETF applications. Initially, pundits were optimistic about the deadline, but recently many analysts have lowered their expectations for it to launch by May due to a seeming lack of progress.
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🪙 Spot Ethereum ETFs may bring up to $45 billion of inflows if approved, says Standard Chartered Bank
Spot Ethereum exchange-traded funds could still be approved by their initial deadline of May 23, according to Standard Chartered Bank, despite skepticism expressed by other commentators. Earlier this year, Kendrick predicted that spot Ethereum ETFs would likely be approved on May 23 primarily because the Securities and Exchange Commission has not classified ETH as a security in its legal actions against crypto companies.
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🟠 Binance executive remains detained as 🇳🇬 Nigerian court postpones case
Crypto exchange Binance, currently facing criminal charges in Nigeria, notably lacked legal representation at its April 4 court hearing in the African nation. Instead, the hearing was only attended by its compliance chief, Tigran Gambaryan, who the Nigerian government has detained since the end of February. However, despite expectations for the proceedings to advance, the Nigerian High Court postponed the case until April 19.
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🇳🇬 Nigeria and Interpol collaborate to extradite Binance executive amid money laundering charges
The Nigerian Government has engaged the International Criminal Police Organization, Interpol, to facilitate the extradition of Binance executive Nadeem Anjarwalla, who is currently on the run, as reported by local media outlet Punch. According to reports, the Nigerian government has enlisted Interpol’s assistance in the extradition of Anjarwalla, a British-Kenyan citizen who recently evaded custody of the Nigerian authorities. Anjarwalla and Gambaryan were detained in February following their firm’s issues with the authorities.
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📊 Crypto Venture Capital Fundraising Jumped Over 50% in March Amid Rally
Venture capitalists increased their investments into crypto projects by over 52% in March, spurred by a new all-time high for bitcoin and continued success from the spot bitcoin exchange-traded funds (ETFs). Investors allocated more than $1.16 billion into the industry in March, the second-highest amount in the past 12 months, according to data released by RootData.
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🟠 Binance taps board of directors for the first time: Bloomberg News
Binance Holdings Ltd. has named a board of directors for the first time, according to Bloomberg News, after a year marked by change and turmoil. The board is made up of seven members, including CEO Richard Teng and three other company executives — Heina Chen, Jinkai He, and Lilai Wang.
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💰 Bitcoin wallet wakes up after 12 years of dormancy, moves 500 coins
A bitcoin wallet that has been inactive for nearly 12 years transferred its entire 500 — worth just under $35 million at current prices — to multiple new addresses. The wallet originally received 500 bitcoins on July 14, 2012 — worth less than $4000 at the time — when the bitcoin price was less than $8, as noted by Lookonchain. The identity of the individual or entity behind the bitcoin transfer remains unknown, as is the reason for the transfer.
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💰 Bitcoin ETFs break trend recording modest inflows as GBTC continues outflow
According to data from BitMEX, the Bitcoin (BTC) ETF market experienced its first day of net inflows since March 15, collecting a modest $15.7 million, or 221.2 Bitcoin. This event paused five consecutive days of net outflows and represented the second-smallest day of inflows recorded. Despite this positive shift, the larger narrative remained overshadowed by the substantial outflows from GBTC, which amounted to $350.1 million or 4,933.7 BTC. Consequently, GBTC’s cumulative outflows have reached $14,150.6 billion, equivalent to 275,059 BTC.
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💰 $9 billion in Bitcoin options set to expire on March 29
Deribit data indicates that nearly $9 billion worth of Bitcoin (BTC) options are due to expire on March 29, the last Friday of the month, with the total open interest amounting to 133,914 BTC. The put/call ratio is reported at 0.80, signifying more calls in circulation compared to puts, and reflects bullish market sentiment — for every 100 calls, there are 80 puts. Call open interest stands at 74,213 BTC, outstripping put open interest, which totals 59,701 BTC.
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💰 "Sometimes people use a Stock-to-Flow model to try to value Bitcoin and compare it to gold.
When you do have a halving, you're gonna have half as much over that next year to base your s2f on.
Just by math, if it was worth x, it will be worth 2x"
🔹 @Crypto_Ethereum_Bitcoin 🔹
🇺🇸 SEC pushes back decision on Grayscale Ether futures ETF
The United States Securities and Exchange Commission (SEC) has extended the deadline yet again to decide on the approval of digital asset management firm Grayscale’s Ethereum Futures Trust exchange-traded fund (ETF). In a filing published on March 22, the SEC stated that it will postpone the March 31 deadline to May 30 to decide on whether or not to approve Grayscale's Ethereum Futures Trust ETF, which would focus on investing in Ethereum futures contracts.
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💰 Bitcoin (BTC) Price Recovers But Danger Still Looms: QCP Capital
Bitcoin’s setback below $61,000 triggered a market-wide correction. Despite the inflow of fresh capital, the leading crypto asset registered 15% in weekly losses at one point after hitting new all-time highs earlier this month. QCP Capital’s analysis suggests that the Bitcoin bull market is far from over while simultaneously highlighting a continued liquidity rotation, which is likely to propel the asset to new highs post-halving. Having said that, a “violent” near-term correction due to lingering leverage might transpire.
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💰 Bitcoin rebounds to $68k after Fed decides to maintain rates as expected
The US Federal Reserve announced on March 20 that it would keep interest rates steady at 5.25% to 5.5% — aligning with market expectations and easing concerns of a more aggressive tightening of monetary policy. Additionally, the Federal Open Market Committee (FOMC) maintained its projection for a rate cut within this year, signaling a cautious but optimistic outlook for the economy.
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📊 Bitcoin and ether perpetual futures funding rates still elevated despite downturn in spot prices
Bitcoin and ether perpetual futures funding rates are still elevated despite the spot prices of each asset falling by 7% and 6% respectively, in the past 24 hours. The global cryptocurrency market cap fell 5.8% in the past 24 hours to $2.5 trillion, according to CoinGecko data. This means that speculators are still adding to leveraged longs on the dip," Tuesday's QCP Capital market report said.
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🇳🇬 Nigeria intensifies probe into 🟠 Binance with court-ordered data disclosure
A Federal High Court in Nigeria has ordered Binance to provide detailed information on all its Nigerian users to the country’s foremost anti-corruption agency — the Economic and Financial Crimes Commission (EFCC). The ruling comes amid rising tensions between the crypto exchange and Nigerian authorities over the past month as the country’s fiat currency collapsed after locals turned to crypto to deal with unabated inflation.
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💰 Solana's memecoin mania pushes on-chain volumes and fees to new highs
The popularity of memecoin trading and speculation on Solana has pushed on-chain volumes — in U.S. dollar terms — to a new all-time high on Friday. Volume on Ethereum's foremost competitor exceeded $3.79 billion to end the work week, according to data from DefiLlama. The blockchain's previous all-time high volume was $2.85 billion — a figure set earlier this month. Saturday was close to Friday's all-time high.
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