In a landmark move bridging traditional banking and blockchain technology, Vantage Bank and Custodia Bank have jointly launched Avit—the first U.S. bank-backed stablecoin built on the Ethereum network. Announced on March 25, Avit operates as an ERC-20 token and is fully backed 1:1 by U.S. dollars, marking a significant step toward regulatory-compliant digital asset integration...
Cryptocurrency exchange-traded products (ETPs) have logged 17 consecutive days of outflows, the longest negative streak since CoinShares began tracking in 2015. The persistent withdrawals reflect growing investor caution, with $1.7 billion pulled from the market in the past week alone. According to CoinShares’ March 17 report, the five-week cumulative outflow now stands at $6.4 billion....
Aleksei Andriunin, founder and CEO of the Gotbit market-making platform, has agreed to forfeit approximately $23 million in Tether (USDT) and USD Coin (USDC) as part of a plea agreement with U.S. federal prosecutors in Massachusetts. The Russian national will plead guilty to three counts of conspiracy to commit wire fraud and market manipulation, according...
Australia’s Labor-led government has unveiled plans to regulate cryptocurrency exchanges and custody services under existing financial services laws, part of a broader effort to formalize the country’s digital asset landscape. The proposal, released by the Treasury Department on March 21, aims to extend financial compliance standards to major crypto platforms while offering exemptions for smaller...
Since the start of 2025, Bitcoin’s price has dropped by approximately 25%. Despite this downturn, 95% of U.S.-based spot Bitcoin ETF investors are holding their positions, signaling long-term confidence in the market. Bloomberg data shows that while investors face market pressures, they prefer to retain their ETF assets rather than sell, keeping total managed assets...
Bybit CEO Ben Zhou addressed the recent $4 million loss suffered by decentralized exchange (DEX) Hyperliquid due to a high-leverage Ether trade, acknowledging that centralized exchanges (CEXs) face similar challenges in handling liquidation risks. On March 12, a crypto trader walked away with $1.8 million, forcing the Hyperliquidity Pool (HLP) to absorb a $4 million...
A large cryptocurrency trader, known as a whale, suffered a staggering $308 million loss after a leveraged Ether position was liquidated, highlighting the risks of high-leverage trading in turbulent market conditions. Blockchain data from Hypurrscan reveals that the unknown trader was liquidated on a 50x leveraged long position, amounting to over 160,234 Ether (ETH), valued...
Solana co-founder Anatoly Yakovenko has voiced opposition to the idea of a U.S. national cryptocurrency reserve, warning that government control could undermine decentralization. In a March 6 post on X, Yakovenko outlined his stance, stating his primary preference is for no reserve at all, as state control over digital assets could compromise the core principles...
A recent 13F filing by Goldman Sachs has stirred excitement on Bitcoin Twitter, revealing significant stakes in spot Bitcoin exchange-traded funds (ETFs). However, the details suggest a more nuanced reality than a straightforward bullish bet on Bitcoin’s price. The disclosed holdings include a $288 million stake in the Fidelity Bitcoin ETF (FBTC) and a $1.3...
Utah is on track to become the first U.S. state to establish a Bitcoin reserve, driven by a compressed legislative calendar and significant political momentum. According to Satoshi Action Fund CEO Dennis Porter, Utah’s 45-day legislative session gives the state a unique opportunity to move quickly on Bitcoin-related legislation. “It’s either sink or swim in...
