Large ETH transfers by prominent figures like Wilcke can influence market sentiment, potentially impacting Ethereum's price volatility.

The post Ethereum co-founder Jeffrey Wilcke sends $157M in ETH to Kraken after months of wallet silence appeared first on Crypto Briefing.

Excluding stablecoins from corporate crypto investments in South Korea may limit market growth and innovation, affecting global crypto dynamics.

The post South Korea moves to exclude USDT, USDC from corporate crypto investment rules appeared first on Crypto Briefing.

Escalating tensions and military actions risk destabilizing the Middle East, impacting global oil markets and regional power dynamics.

The post Trump declares Iran “surrendered” to Middle East neighbors, threatens further strikes appeared first on Crypto Briefing.

Kalshi and Polymarket discuss new funding rounds that could value each prediction market platform near $20 billion.

The post Kalshi and Polymarket weigh funding rounds at $20B valuations appeared first on Crypto Briefing.

Susquehanna backed crypto trading firm BlockFills seeks restructuring after losses, frozen withdrawals, and a lawsuit from a customer.

The post Crypto trading firm BlockFills explores restructuring amid losses and customer lawsuit appeared first on Crypto Briefing.

Bitcoin Magazine

Utexo Raises $7.5M to Launch Bitcoin-Native USDT Settlement Infrastructure

Utexo, a startup building Bitcoin-native stablecoin settlement infrastructure, announced a $7.5 million seed round co-led by Tether, Big Brain Holdings, and Portal Ventures. 

The round also included participation from Franklin Templeton, Maven11 Capital, Fulgur Ventures, Alchemy VC, Ethereal Ventures, Auros Ventures, Arcanum Capital, Paper Ventures, Axia8, FlowTraders, Plan B, Gate Ventures, Sats Ventures, and strategic angels including operators from Ledger, Hyperion, BTC Turk, Echo, Legion, and SOLV.

The company was founded to address a longstanding gap in the cryptocurrency ecosystem: enabling USDT to settle natively on Bitcoin with robust, production-ready payment rails. Tether’s 

CEO, Paolo Ardoino, said that Bitcoin has been central to the stablecoin issuer’s long-term vision for USDT. “Market cycles come and go, but the need for open and resilient settlement infrastructure remains constant,” Ardoino said. 

He added that Utexo provides a layer that makes Bitcoin-native USDT settlement viable at scale, strengthening Bitcoin’s role as a global settlement rail for real-world dollar transactions.

Historically, the Lightning Network and RGB protocols have offered technical capabilities for Bitcoin-based payments, but their complexity limited adoption in production environments. Utexo abstracts these complexities behind a single API layer, allowing payment operators to route USDT settlement over Bitcoin-native rails without modifying custody, compliance workflows, or user experiences.

Chris Hutchinson, co-founder of Utexo, explained the system’s value proposition: “We built Utexo so that USDT could move on Bitcoin the way money is supposed to move: instantly, privately, with no surprises on costs. Our partners integrate our API once and can route USDT on the most resilient open network ever built, with full control over cost structure.” 

Viktor Ihnatiuk, co-founder, added that the infrastructure allows wallets to offer free USDT transactions while boosting adoption of Bitcoin-native stablecoins.

The infrastructure supports atomic settlement, privacy-preserving execution, and predictable fees for every transaction, independent of network congestion. 

Settlement occurs in USDT and is anchored to Bitcoin’s security model, completing in under one second. Utexo encrypts all on-chain transactions, preventing disclosure of counterparties and wallet addresses, distinguishing it from public transaction graphs on other networks.

Tether and Bitcoin 

By providing a reliable, predictable settlement layer, the company enables Bitcoin to serve as a viable rail for dollar-denominated payments, advancing Tether’s vision of native USDT on Bitcoin.

In February, Tether open-sourced MiningOS (MOS), a modular operating system for managing and automating bitcoin mining operations, unveiled at the 2026 Plan ₿ Forum in San Salvador. 

The system provides unified control over hardware, energy, and site infrastructure using a peer-to-peer architecture, reducing reliance on proprietary or centralized software.

Targeted at exchanges, wallets, payment service providers, high-frequency trading firms, and platforms handling large volumes of USDT, Utexo focuses on routing existing stablecoin flows over Bitcoin rather than launching speculative L2 solutions. 

This post Utexo Raises $7.5M to Launch Bitcoin-Native USDT Settlement Infrastructure first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Kazakhstan’s Central Bank to Channel $350 Million of Reserves into Crypto and Bitcoin  Investments

The National Bank of Kazakhstan plans to allocate up to $350 million from the country’s gold and foreign exchange reserves toward investments tied to digital assets, marking one of the most significant steps by a central bank to gain exposure to the crypto sector.

Governor Timur Suleimenov said the initiative will focus on companies and financial instruments connected to cryptocurrency markets rather than direct purchases of assets like Bitcoin. The investments are expected to include shares of technology firms involved in digital asset infrastructure as well as index funds whose performance tracks crypto-related markets.

The allocation represents a small portion of Kazakhstan’s overall reserves. 

As of February, the country held roughly $69.4 billion in gold and foreign exchange reserves, according to data from the central bank.

Deputy chair Aliya Moldabekova said the investment program is scheduled to begin in April and May as the bank finalizes a list of eligible companies and financial instruments.

“We are not talking about any large investment in cryptocurrencies,” Moldabekova said, noting that officials are concentrating on firms involved in digital asset infrastructure and related technologies.

Kazakhstan already plays a prominent role in the global crypto ecosystem. Following China’s sweeping ban on crypto mining in 2021, many mining operations relocated to the Central Asian country due to its energy resources and permissive regulatory environment. 

As a result, Kazakhstan emerged as one of the world’s leading centers for industrial-scale bitcoin mining.

Bitcoin-fiat facing services

Financial institutions in Kazakhstan are also experimenting with consumer-facing crypto services. Suleimenov said two banks have already launched crypto-fiat payment cards that allow users to transact between traditional currencies and digital assets. Two additional banks are preparing to introduce similar products.

These initiatives are currently operating in a regulatory sandbox while authorities finalize broader legislation governing digital financial assets.

The central bank is also pushing to create a licensing framework for cryptocurrency exchanges operating in the country. Under the proposal, exchanges would be required to comply with anti-money laundering rules, tax regulations and other financial oversight measures.

Officials say the broader regulatory push aims to integrate digital asset services into Kazakhstan’s financial system while maintaining oversight of the sector.

Suleimenov has framed the effort as part of a broader transformation of financial markets driven by technology. According to the governor, innovations such as tokenized assets, digital bonds and crypto-linked payment rails are creating entirely new categories of financial instruments.

“In essence, a completely new sector of the financial market is emerging,” he said.

The central bank believes digital financial assets could expand access to funding for businesses and investors. For example, real estate developers could tokenize property holdings and sell fractional ownership through digital tokens, offering an alternative to traditional bank financing.

This post Kazakhstan’s Central Bank to Channel $350 Million of Reserves into Crypto and Bitcoin  Investments first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Russia Considers Simplified Licensing Path for Bank-Run Crypto Exchanges

Russia’s central bank is weighing a plan that would allow banks and brokerage firms to operate cryptocurrency exchanges through a simplified licensing pathway tied to their existing financial permits, according to remarks from Governor Elvira Nabiullina.

Under the proposal, financial institutions could obtain authorization to run crypto trading platforms through a “notification process,” rather than applying for a new standalone license. 

The approach would allow firms that already hold banking or brokerage licenses to expand into digital asset services using their current regulatory status.

Back in January, Anatoly Aksakov, head of the State Duma Committee on the Financial Market, made comments that Russia was preparing to introduce its first comprehensive regulatory framework for cryptocurrencies like Bitcoin, with lawmakers aiming to finalize the draft for a parliamentary vote by the end of June.

Nabiullina presented the idea during a meeting between the central bank and Russian lending institutions, according to reports from the Interfax news agency.

The governor framed the proposal as an effort to integrate cryptocurrency activity into Russia’s existing financial infrastructure. 

She argued that banks already maintain compliance systems designed to meet anti–money laundering and countering the financing of terrorism requirements, which could provide a foundation for supervising digital asset markets.

“We have proposed allowing banks and brokers to obtain crypto exchange licenses through a notification process and to act as intermediaries based on their current banking licenses,” Nabiullina said, adding that the sector’s existing compliance frameworks could help protect customers entering the crypto market.

The central bank also outlined limits designed to manage financial risk during the early stages of integration. 

Under the proposal, banks’ exposure to cryptocurrency activities would be capped at 1% of their capital.

Nabiullina said regulators plan to monitor how institutions operate within that threshold before considering any expansion.

“Let’s start by seeing how banks operate within the one percent cap, and then see whether we need to move forward,” she said.

The licensing proposal forms part of a broader effort by the Central Bank of Russia and the Ministry of Finance of the Russian Federation to establish a clearer legal framework for digital assets in the country.

In late 2025, the central bank submitted a regulatory concept to the Russian government that would formally recognize cryptocurrencies and stablecoins as currency assets that can be bought and sold through regulated intermediaries. The framework would allow trading through exchanges, brokers and trustees operating under existing financial licenses.

Crypto for domestic payments 

At the same time, the proposal maintains a strict ban on the use of cryptocurrencies for domestic payments, a position the central bank has held for years. Digital assets would function as investment instruments rather than alternatives to the national currency.

Draft legislation reflecting the concept is expected to reach the State Duma during the spring legislative session. Deputy Finance Minister Ivan Chebeskov has indicated that lawmakers could review the bill as early as March, with the main regulatory framework scheduled to take effect on July 1, 2026.

The proposed rules would also introduce a tiered system governing who can access crypto markets.

Qualified investors would face no limits on purchases. Non-qualified investors would be restricted to buying up to 300,000 rubles, or roughly $3,800, in crypto assets each year through a single intermediary.

Russia updated the definition of “qualified investor” last year. Individuals may now qualify based on several criteria, including a master’s degree in finance, annual income of at least 20 million rubles, or meeting property ownership thresholds set by regulators.

Those wealth requirements are scheduled to rise in 2026, when the property threshold increases from 12 million rubles to 24 million rubles.

This post Russia Considers Simplified Licensing Path for Bank-Run Crypto Exchanges first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Strike Secures New York BitLicense, Opening Bitcoin Financial Services to State Residents

Strike, a Bitcoin financial services firm founded by Jack Mallers, has received both a BitLicense and a money transmitter license from the New York State Department of Financial Services, allowing the company to operate in one of the most tightly regulated digital asset markets in the United States.

The approval allows Strike to offer its Bitcoin brokerage, payments, and custody services to individuals and businesses across New York.

The state’s regulatory framework requires firms to meet standards for capital reserves, cybersecurity, and operational transparency.

New York’s BitLicense regime has long served as a gatekeeper for digital asset companies seeking access to the state’s financial markets. Several crypto firms have opted not to pursue the license because of the compliance requirements and ongoing regulatory oversight.

Mallers described the license as a major step in the company’s effort to build a Bitcoin-focused financial platform.

“Receiving our BitLicense is a defining milestone for Strike,” Mallers said in a statement. “Strike is building the leading Bitcoin financial institution. With our BitLicense, we can now bring that mission to New York, the global center of finance.”

Strike’s bitcoin services

With the approval, New York users will gain access to Strike’s suite of Bitcoin services. The platform allows customers to buy and sell bitcoin through linked bank accounts, debit cards, or wire transfers. 

Users can also directly deposit their paychecks and convert a portion, or all, of their wages into bitcoin.

The platform includes automated trading tools such as recurring purchases and price-triggered orders. Recurring buys allow customers to schedule bitcoin purchases on a set interval, while target orders execute trades when bitcoin reaches a specific price.

Strike also allows users to pay bills from a bitcoin balance, including utility payments, credit card balances, and mortgage bills. The feature reflects the company’s effort to position bitcoin as a tool for daily financial activity rather than only as an investment asset.

According to the company, customer bitcoin and cash balances are held one-to-one and are not lent or used for company operations. Strike said users can withdraw bitcoin to personal wallets at no cost, with the firm covering on-chain transaction fees.

The license also places Strike under the supervision of the New York State Department of Financial Services, which requires periodic audits, cybersecurity reviews, and capital reserve compliance.

Strike’s expansion into New York comes as the company outlines broader growth plans for its platform. In late 2025, Mallers said the firm intends to add bitcoin-backed lending, which would allow customers to borrow fiat currency while holding their bitcoin.

This post Strike Secures New York BitLicense, Opening Bitcoin Financial Services to State Residents first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

The Core Issue: Consensus Cleanup

Protocol developers often come across as more pessimistic about Bitcoin’s future than most Bitcoiners. Daily exposure to Bitcoin’s imperfections certainly shapes a sober perspective, and it’s important to reflect on what Bitcoin has achieved. Anyone in the world, no matter their race, age, gender, nationality, or any other arbitrary criterion, is able to store and transfer value on a neutral monetary network more robust now than ever. That said, Bitcoin does have issues that many Bitcoiners are not aware of, but could threaten its long-term prospects if not addressed properly. The vulnerabilities fixed by the Consensus Cleanup are one such example.

The Consensus Cleanup (BIP 54¹) is a soft fork proposal aimed at patching multiple long-standing vulnerabilities within the Bitcoin consensus protocol. As a soft fork proposal, it is separate in nature to most other Bitcoin Core efforts featured in this edition. Although the proposal has historically been championed by individuals associated with the Bitcoin Core project, it really belongs to the broader category of Bitcoin protocol development.

We will walk through each of the proposal’s four items, describing the impact of the issue addressed and the remediation applied. We’ll discuss how the proposed mitigations evolved to address feedback as well as newfound vulnerabilities. We’ll finish with a brief overview of the current status of the soft fork proposal.

A vulnerability in Bitcoin’s Proof of Work

The Bitcoin network adjusts mining difficulty to maintain an average block rate of one per 10 minutes. An “off by one” bug (a common programming mistake) in its implementation opens up an attack called the Timewarp attack, whereby a majority of miners can artificially speed up the rate of block production by manipulating the difficulty downward.

This attack fortunately requires a 51%+ threshold of miners, but artificially speeding up the block rate is a critical issue. It means that full nodes are not in control of resource usage anymore, and that an attacker can considerably accelerate the bitcoin subsidy emission schedule.

Even though it requires a “51% miner”, it is a significant departure from the standard Bitcoin threat model. A 51% attack traditionally enables a miner to prevent the confirmation of a transaction for as long as they maintain their advantage. But the presence of this bug grants them the power to cripple the network within just 38 days by rapidly reducing the network difficulty.

Instead of taking down the network, it is more probable that an attacker would exploit this bug to a smaller extent. Current miners could coordinate to quadruple the block rate (to 2.5 minute blocks) while keeping the Bitcoin network in a seemingly functioning state, effectively quadrupling the available block space and stealing block subsidies from future miners. Short-sighted users may be incentivized to support this attack, as more available block space would mean -ceteris paribus- lower fees for onchain transactions. This would of course come at the expense of full-node runners and undermine the network’s long term stability.

The Timewarp attack exploits the fact that difficulty adjustment periods do not overlap, allowing block timestamps to be set so that a new period appears to start before the previous one has finished. Because making them overlap would be a hard fork, the next best mitigation is to link the timestamps of blocks at the boundaries of difficulty adjustment periods. The BIP 54 specifications mandate that the first block of a period cannot have a timestamp earlier than the previous period’s last block by more than two hours.

In addition, the BIP 54 specifications mandate that a difficulty adjustment period must always take a positive amount of time. That is, for a given difficulty adjustment period, the last block may never have a timestamp earlier than the first block’s. Surprised this isn’t already the case? We were surprised it was at all necessary. Turns out this is a simple fix for a clever attack, related to Timewarp, that pseudonymous developer Zawy and Mark “Murch” Erhardt came up with when reviewing the Consensus Cleanup proposal.

Blocks that take hours to validate

Any miner can exploit certain expensive validation operations to create blocks that take a long time to verify. Whereas a normal Bitcoin block takes in the order of a hundred milliseconds to validate, validation times for these “attack blocks” range from more than ten minutes on a high-end computer to up to ten hours on a Raspberry Pi (a popular full-node hardware choice).

An externally-motivated attacker may leverage this to disrupt the entire network, while in a more economically rational variant of the attack, a miner can delay its competition just long enough to increase its profits without creating widespread network disruption.

Historical attempts to mitigate this issue have been tumultuous, because it requires imposing restrictions on Bitcoin’s scripting capabilities. Such restrictions have the potential of being confiscatory, which is paramount to avoid in any serious soft fork design.

Matt Corallo’s original 2019 Great Consensus Cleanup proposed to solve these long block validation times by invalidating a couple of obscure operations in non-Segwit (“legacy”) Script. Some raised concerns that although transactions using those operations had not been relayed nor mined by default by Bitcoin Core for years, someone, somewhere, may still be depending on it unbeknownst to everyone. Of course, this has to be weighed against the practical risk to all Bitcoin users of a miner exploiting this issue.

Even though the confiscation concern is fairly theoretical, there is a philosophical point on how to perform Bitcoin protocol development in trying to design an appropriate mitigation for the vulnerability with the smallest confiscatory surface possible. My later iteration of the Consensus Cleanup proposal addressed this concern by introducing a limit which pinpoints exactly the harmful behaviour, without invalidating any specific Bitcoin Script operation.

Forged proofs of payment

Bitcoin block headers contain a Merkle root that commits to all transactions in the block. This makes it possible to give a succinct proof that a given transaction is part of a chain with a certain amount of Proof of Work. This is commonly referred to as an “SPV proof”.

Due to a weakness in the design of the Merkle tree, including a specifically-crafted 64-byte transaction in a block allows an attacker to forge such a proof for an arbitrary fake (non-existent) transaction. This may be used to trick SPV verifiers, commonly used to validate incoming payments or deposits into a side-system. Mitigations exist that enable verifiers to reject such invalid proofs; however, these are often overlooked—even by cryptography experts—and can be cumbersome in certain contexts.

The Consensus Cleanup addresses this issue by invalidating transactions whose serialized size is exactly 64 bytes. Such transactions cannot be secure in the first place (they can only ever burn funds or leave them for anyone to spend), and have not been relayed or mined by default by Bitcoin Core since 2019. Alternative approaches were discussed, such as a round-about way of improving the existing mitigation^a, but the authors chose to fix the root cause of the issue, eliminating both the need for implementers to apply the mitigation and the need for them to even know about the vulnerability in the first place.

^a: committing to the Merkle tree depth in part of the block header’s version field

UTXO Doppelgängers: duplicate transactions

“Mirco… Mezzo… Macroflation—Overheated Economy” is the title of a blog post⁴ Russell O’Connor published in February 2012, in which he describes how Bitcoin transactions can be duplicated. This was a critical flaw in Bitcoin, which broke the fundamental assumption that transaction identifiers (hashes) are unique. This is because miners’ coinbase transactions have a single blank input, meaning that any coinbase transaction with the same outputs would have an identical transaction identifier. 

This was fixed by Bitcoin Core (then still called “Bitcoin”) developers with BIP 30², which required full nodes to perform additional validation when receiving a block. That extra validation was not strictly necessary to solve the issue, and was side-stepped with BIP 34³ the same year. Unfortunately, the fix introduced in BIP 34 is imperfect and the BIP 30 extra validation will once again be required in 20 years. Beyond not being strictly necessary, this validation cannot be performed by alternative Bitcoin client designs such as Utreexo and would effectively prevent them from fully validating the block chain.

The Consensus Cleanup introduces a more robust, future-proof fix for the issue. All Bitcoin transactions, including the coinbase transactions, contain a field to “time lock” the transaction. The value of the field represents the last block height at which a transaction is invalid. The BIP 54 specifications require that all coinbase transactions set this field to the height of their block (minus 1).

Combined with a clever suggestion from Anthony Towns to make sure the timelock validation always occurs, this guarantees that no coinbase transaction with the same timelock value may have been included in a previous block. This in turn guarantees that no coinbase transaction may have the same unique identifier (hash) as any past one, without requiring BIP 30 validation.

An ounce of prevention is worth a pound of cure

The vulnerabilities addressed by the Consensus Cleanup (BIP 54) are not an existential threat to Bitcoin at the moment. While some have the potential to cripple the network, they are unlikely to be exploited for now. That said, this might change and it is paramount that we proactively mitigate long-term risks to the Bitcoin network, even if it means having to bear the short term burden of coordinating a soft fork.

The work on the Consensus Cleanup started with Matt Corallo’s original proposal in 2019. It came together 6 years later with my publication of BIP 54 and an implementation of the soft fork in Bitcoin Inquisition, a testbed for Bitcoin consensus changes. Throughout this time the proposal received considerable feedback, various alternatives were considered and mitigations for additional weaknesses were incorporated. I believe it is now ready to be shared with Bitcoin users for consideration.

The Consensus Cleanup is a soft fork. Bitcoin protocol developers choose which improvements to prioritize and make available to the public. But the ultimate decision to adopt a change to Bitcoin’s consensus rules rests with the users. The choice is yours.

Don’t miss your chance to own The Core Issue — featuring articles written by many Core Developers explaining the projects they work on themselves!

This piece is the Letter from the Editor featured in the latest Print edition of Bitcoin Magazine, The Core Issue. We’re sharing it here as an early look at the ideas explored throughout the full issue.

[1] https://github.com/bitcoin/bips/blob/master/bip-0054.md 

[2] https://github.com/bitcoin/bips/blob/master/bip-0030.mediawiki 

[3] https://github.com/bitcoin/bips/blob/master/bip-0034.mediawiki 

[4] https://r6.ca/blog/20120206T005236Z.html 

This post The Core Issue: Consensus Cleanup first appeared on Bitcoin Magazine and is written by Antoine Poinsot.

In the latest SlateCast episode, Fantium CEO and co-founder Jonathan Ludwig joined CryptoSlate Editor-in-Chief Liam “Akiba” Wright and CEO Nate Whitehill to discuss why he returned to building, how Fantium structures athlete financing, and why its broader sports-token vision is focused on utility rather than pure speculation. Across the conversation, Ludwig framed tokenization as a tool for expanding access to capital and participation, provided it is tied to real financial activity and designed with aligned incentives.

Returning to company building

Ludwig said his decision to move from investing back into operating came from a sense that he was not fully applying his strengths. Reflecting on a period of traveling and angel investing, he said, “I felt like something was missing,” adding that he did not want to remain “standing on the sidelines.” He said the turning point came when he realized, “I want to be in the driver’s seat,” and needed to “roll up my sleeves” again. Ludwig added that selling his previous company gave him the freedom to pursue a business he believed could have “a very positive impact on different levels.”

Finance first, speculation second

When asked what should and should not be tokenized, Ludwig drew a clear line between financial assets and purely speculative cultural instruments. He said, “financial assets will be tokenized,” arguing that tokenization can democratize participation for both institutions and retail investors. At the same time, he expressed caution around areas driven mainly by hype, saying he is “a little bit skeptical on cultural things” and is “not very interested” where tokenization is “really about pure speculation.”

That distinction shaped his view of sports tokens as well. Ludwig said tokenization can work in sports when it helps athletes, clubs, and teams raise money while also giving supporters exposure to “the journeys and in the upside, but then also the risk they’re facing.” In his framing, tokenization is most compelling when it creates a real financial relationship rather than a detached trading narrative.

How Fantium’s athlete model works

Discussing Fantium’s core product, Ludwig said the company has built “the number one tennis player financing platform in the industry over the last three and a half years.” He explained that athletes decide what portion of their economics they want to tokenize, but that “99% of the cases are just purely focused on prize money.” According to Ludwig, prize money is preferred because it is “more predictable” and “more transparent,” making execution and payouts easier than structures tied to sponsorship revenue.

He noted that sponsorships and endorsements could theoretically be included if they were auditable, but said those earnings are much harder to forecast than tournament winnings. That practical focus, he suggested, is part of what makes the platform workable today.

Ludwig also emphasized the directness of the model. “There are no intermediaries. It’s like a P2P transaction,” he said. He added that some junior tennis players on the platform “have completely changed their lives,” raising meaningful funding for their careers while also building direct relationships with supporters, including access-driven utilities tied to verified ownership.

Why fan tokens fell short

Ludwig argued that earlier fan-token models faced a structural problem: the underlying clubs or athletes often were not the true creators or owners of the tokens’ upside. “They’re not owning the upside,” he said, and because of that, they were not fully incentivized to integrate the tokens into their ecosystems. His view is that future sports tokens work better when athletes, clubs, and teams own both “the upside” and “the downside,” giving them a reason to fully support utility, monetization, and token-gated access.

$BANK and the poker expansion

Ludwig said Fantium’s broader “Sports Capital Markets” vision expanded with Fanstrike and now with “the first poker on-chain bankroll token,” $BANK. He explained the structure in straightforward terms: “We use that money in order to invest into professional poker players.” Because poker players often sell portions of tournament buy-ins privately to manage variance and bankroll demands, Ludwig said Fantium sees an opportunity to formalize that market on-chain.

He said returns from those investments would be used “to buy back the token, integrate flywheels, and just recycle it into the token.” Over time, the goal is for Fanstrike to let individual poker players launch their own bankroll tokens using $BANK as the ecosystem’s underlying token.

Building where liquidity already exists

On launching in Solana, Ludwig said the decision came down to infrastructure and market activity. “We want to be present where liquidity is at its peak,” he said, calling Solana “the obvious choice.” He also noted that not every crypto-native mechanic translates well to sports, citing bonding curves as one example that did not fit because typical sports fans would be disadvantaged by the speed required to participate effectively.

Closing

Taken together, Ludwig’s comments outlined a sports-token strategy centered on access, financing, and real-world alignment. He argued that adoption will depend on better regulation, improved on-ramps and off-ramps, and products that offer “real utility” to fans, clubs, and athletes alike. For Fantium, that means abstracting crypto where needed, leaning into crypto-native rails where appropriate, and building sports assets that do more than trade.

The post Fantium CEO Jonathan Ludwig says sports tokenization needs utility, alignment, and real access appeared first on CryptoSlate.

Riot case study shows US Bitcoin miners can clear power costs long before they clear full profit

Bitcoin mining costs are often reduced to a single number: the “cost to mine one BTC.” In reality, that figure depends on what layer of the business you measure.

Electricity determines whether machines should run today, operating expenses determine whether a mining fleet supports the broader company, and accounting costs determine whether the business ultimately reports profit.

To examine those layers more clearly, CryptoSlate built a Bitcoin Mining Cost Model that calculates mining economics from first principles using network difficulty, block reward, transaction fees, ASIC efficiency, and electricity price.

The model then applies company-specific cost inputs using Riot Platforms’ public filings to illustrate how the economics stack up in practice.

Under current network conditions, the model shows that a miner can cover power costs but still fails to cover broader operating and accounting expenses.

Riot’s Texas operations reveal how far apart electricity break-even, operating break-even, and full accounting profitability can remain even after Bitcoin’s price recovery.

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Mar 6, 2026 · Oluwapelumi Adejumo

Riot’s mining economics reveal three break-even layers

At the current Bitcoin price of $67,200, Riot clears one break-even layer and misses the next two.

We modeled the data based on current network conditions, including Bitcoin difficulty of 145,042,165,424,850, a 3.125 BTC block reward, BTC per block, modern ASIC efficiency in the ~17–19 J/TH range, and Texas industrial electricity at roughly $0.0667 per kWh. We ignored block fees given that current averages sit around 0.02 BTC per block.

That setup produces a network total of 622.95 sextillion hashes per block (the total work the network must do, on average, to mine one block), 199.34 sextillion hashes per BTC (how fast a miner or the whole network does that work), and 969.04 megawatt-hours of energy per BTC.

These assumptions yield an electricity cost of $64,635 to mine 1 BTC at its current price, resulting in a power margin of $2,565 per BTC.

When we add Riot’s filing-based non-power operating cost layer of about $9,809 per BTC, the operating margin turns negative $7,243, and the total cost per BTC jumps accordingly. Adding the non-cash depreciation layer of about $39,687 per BTC pushes accounting profit to negative $46,930.

This clearly shows that, for large US miners, “cost to mine one Bitcoin” does not have a single figure.

1. One layer captures short-run electricity cost and helps decide whether machines are worth running.
2. A second layer adds broader operating costs and shows whether self-mining covers the rest of the business.
3. A third layer adds depreciation and shows whether the reported profit keeps pace with the cash margin.

The model places those layers side by side and shows how far apart they remain after the market’s recovery.

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Mar 4, 2026 · Gino Matos

The break-even ladder defines the operating picture

The model produces a break-even ladder that says more than any single all-in mining-cost figure. Electricity-only break-even sits at $64,635 per BTC.

Add Riot’s filing-based non-power operating cost layer, and break-even rises to about $74,444.

Add the accounting depreciation layer and full accounting break-even rises again to $114,130.

Therefore, miners can report positive power economics while still posting weak operating or accounting results.

I modeled four price scenarios to show how that ladder works in practice.

In my $49,000 bear case, Riot is negative on every measure. Power margin per BTC is negative $15,635, operating margin is negative $25,443, and accounting profit is negative $65,130.

In the $67,200 current-price case, Riot moves just above electricity break-even, but only barely. The power margin turns positive, yet the operating and accounting views stay negative.

In the $80,000 recovery case, Riot clears the operating threshold, with an operating margin of $5,557 per BTC, while the accounting view still shows a loss of $34,130.

It requires retaking the all-time high of $126,000 before all three views turn positive, with an accounting profit of $11,870 per BTC.

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Feb 6, 2026 · Liam 'Akiba' Wright

The distinction is substantive. Riot’s depreciation layer is explicitly framed as non-cash and based on a three-year useful life. It is an accounting allocation rather than a short-term avoidable cash outflow.

It still belongs in the picture because public miners do not live on power margin alone. They report income statements. They replace machines. They absorb corporate costs.

So the useful question is which profitability line investors, analysts, and management teams are actually using and when to say a miner is profitable.

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Mar 1, 2026 · Andjela Radmilac

Riot’s next-halving projection extends the price test

We then ran a cost projection until the next halving in 2028.

Using Riot's latest publicly available filings, we assume 38.5 exahash per second, ramping to 45 EH/s by March 31, 2026, and then holding that level flat through to the next halving window.

We are not attempting to rebuild the entire market. The model keeps current per-BTC economics constant and scales them through Riot’s reported and planned self-mining hash-rate path.

This is a scenario exercise focused on operating leverage, and the price sensitivity is hard to miss.

Across all four scenarios, the projected cumulative BTC mined is 15 thousand. What changes is the profit stack.

At $49,000 Bitcoin, Riot’s cumulative power margin is negative $239,436,036, cumulative operating margin is negative $389,648,124, and cumulative accounting profit is negative $997,428,094.

At $67,200, the cumulative power margin turns positive at $39,286,667, but the cumulative operating margin stays negative at $110,925,420, and the cumulative accounting profit remains negative at $718,705,391.

At $80,000, Riot turns cumulatively positive on operating margin at $85,099,338, while cumulative accounting profit is still negative at $522,680,632.

Only in the $126,000 scenario do all three lines move above zero, with cumulative accounting profit of $181,783,343.

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A miner can be power-positive for a long stretch and still fail to cover broader operating costs. It can also turn operating-positive and still remain far from accounting profit. Riot’s case study shows that the gap between those states is wide.

In the model, the difference between power break-even and full accounting break-even is roughly $49,495 per BTC. That spread helps explain why miners can look healthy on fleet dispatch and strained on reported earnings at the same time.

Our cumulative chart does not call future difficulty, fees, outages, curtailment revenue, financing, or new capex. It assumes today’s per-BTC economics persist and scales them only according to Riot’s planned hash-rate path.

That limitation still leaves a clear signal. Holding the rest of the economics flat shows how much of the next-halving debate still hinges on Bitcoin's price.

In Riot’s case, the model does not reach cumulative accounting profitability until the $126,000 scenario. However, in absolute terms, the level is $114,200.

Riot’s case gives a read-through for the wider US mining trade

The broader lesson for US miners is straightforward. Price alone does not settle the operating picture. Fleet efficiency and power price still decide the first cut.

In terms of cost sensitivity, we compare three ASIC presets: the Bitmain S21 at 17.5 J/TH, the WhatsMiner M60S at 18.5 J/TH, and the Antminer S19 Pro at 29.5 J/TH, using a Texas industrial power reference rate.

Across that range, the S19 Pro stays above the newer machines on cost per BTC. The two newer models run close to one another, while the less efficient fleet carries a visibly higher cost line throughout the chart.

That point carries beyond Riot. Riot’s filing-based non-power cost layer and depreciation assumptions are company-specific. Another miner may have a different overhead base, a different useful-life assumption, a different curtailment profile, or a different realized power mix. But we feel the three-layer structure still travels well.

First comes power cost. Then operating cost. Then accounting cost.

The companies that survive weak price periods tend to clear the first layer comfortably. The companies that compound value through the cycle need to clear all three over time.

At the current price of around $67,000, the model does not show a company in distress at the machine level. The power margin is positive. Machines still earn more than they spend on electricity.

At the same time, it does not show a miner that has solved the full income statement. The operating line stays red. The accounting line stays deeper in the red. For a public miner, that split shapes treasury decisions, fleet replacement timing, and market expectations for earnings.

We can therefore extrapolate that Bitcoin miners can cross into positive power margin well below six figures, cross into positive operating margin in the recovery case, and still miss cumulative accounting profitability until we retest the all-time high above $114,000

The post New model proves miners need Bitcoin above $74k to break even on power – but other costs push it over 6 figures appeared first on CryptoSlate.

When seabed disturbances off Côte d'Ivoire severed seven submarine cables in March 2024, the regional internet impact earned an IODA severity score above 11,000.

For Bitcoin, the global effect was negligible. The affected region hosted roughly five nodes, about 0.03% of the network, and the impact fell within normal fluctuations at -2.5%.

No price movement followed. No consensus disruption materialized.

A new Cambridge study, covering 11 years of Bitcoin network data and 68 verified cable fault events, finds that submarine cable failures have historically caused minimal network disruption.

Coordinated pressure on a handful of hosting networks, by contrast, could disrupt visible nodes an order of magnitude more effectively than random infrastructure failures.

The twist: China's mining crackdown and the adoption of global censorship-resistant infrastructure may have inadvertently pushed Bitcoin toward a more robust topology.

Tor, long understood as a privacy tool, now functions as a structural resilience layer. And most Bitcoin nodes run on it.

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Nov 6, 2025 · Liam 'Akiba' Wright

The empirical record contradicts the fear

Researchers Wenbin Wu and Alexander Neumueller from Cambridge assembled a dataset spanning 2014 through 2025: eight million Bitcoin node observations, 658 submarine cables, and 385 cable fault events cross-referenced with outage signatures.

Of those 385 reports, 68 matched verifiable disruptions, with 87% of verified cable events causing less than 5% node change. Mean impact was -1.5%, median -0.4%.

The correlation between node disruption and Bitcoin price was effectively zero (r = -0.02). Cable faults that dominate regional headlines routinely fail to register in Bitcoin's distributed network.

The study models Bitcoin as a multiplex network: physical connectivity through 354 submarine cable edges connecting 225 countries, routing infrastructure through autonomous systems, and the Bitcoin peer-to-peer overlay.

Under random cable removal, the critical failure threshold, at which more than 10% of nodes disconnect, lies between 0.72 and 0.92. Most inter-country cables must fail before Bitcoin experiences meaningful fragmentation.

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Where the real vulnerability sits

Targeted attacks operate differently. Random cable removal requires removing 72% to 92% of cables to hit the 10% node disconnection threshold. High-betweenness cable targeting drops to 20%.

The most effective strategy, targeting top autonomous systems by node count, reaches the threshold at just 5% of routing capacity removed.

The authors frame this ASN-targeted scenario as “hosting provider shutdowns or coordinated regulatory action, not physical cable cuts.” The model identifies the top networks: Hetzner, OVHcloud, Comcast, Amazon Web Services, and Google Cloud.

A March 2026 Bitnodes snapshot confirms the pattern: among 23,150 reachable nodes, Hetzner hosts 869, Comcast and OVH each host 348, Amazon 336, and Google 313.

This is not a “five providers can kill Bitcoin” claim.

Even a complete clearnet removal would leave most nodes operational because Tor hosts the bulk of the network. However, it identifies where coordinated action could create connectivity shocks and propagation disruptions that random cable failures have not produced.

Recent cloud disruptions illustrate the risk category. Amazon attributed a March 2026 outage to software deployment failure. Separate reporting described AWS Middle East disruptions after attacks on data centers.

These did not affect Bitcoin meaningfully, but they demonstrate that correlated hosting failures are real rather than theoretical.

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Tor as structural resilience

Bitcoin's network composition changed dramatically.

Tor adoption grew from near zero in 2014 to 2,478 nodes by 2021 (23%), then to 7,617 by 2022 (52%). March 2026 shows 14,602 Tor nodes out of 23,150 reachable nodes, equivalent to 63%.
The surge coincides with censorship events: Iran's 2019 shutdown, Myanmar's 2021 coup, and China's 2021 mining ban.

Node operators shifted toward censorship-resistant infrastructure without coordination, suggesting adaptive self-organization.

Tor introduces a challenge: most Bitcoin nodes now have unobservable locations.

The authors address this by building a four-layer model incorporating Tor relay infrastructure as a distinct network layer. Tor relays are physical servers with known locations.

Using consensus weight data from 9,793 relays, the authors model how cable failures that disconnect countries also take relays offline.

The finding reverses expectations. The four-layer model consistently produces higher critical failure thresholds than clearnet-only, with increases from 0.02 to 0.10.

Most of the Tor relay consensus weight is concentrated in Germany, France, and the Netherlands, countries with extensive cable connectivity. Cable failures that disconnect peripheral countries do not degrade relay capacity in these well-connected nations.

An adversary must remove substantially more infrastructure to disrupt both clearnet routing and Tor circuits simultaneously.

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Jul 19, 2020 · Cole Petersen

The China effect

Bitcoin's resilience hit its lowest point in 2021 at 0.72, coinciding with peak mining concentration.

Cambridge data showed that 74% of the hashrate was in East Asia in 2019. Node geographic concentration reduced clearnet resilience by 22% from peak to trough during 2018 to 2021.

The 2022 rebound was sharp. The threshold jumped to 0.88 after China's mining ban as infrastructure dispersed. Tor adoption accelerated simultaneously.

While the authors avoid single-cause claims, regulatory pressure forced geographic redistribution and drove the adoption of censorship-resistant infrastructure, both of which increased robustness.

Part of the apparent concentration is an artifact of measurement. As Tor adoption grew, the clearnet sample became concentrated in fewer locations. The Herfindahl-Hirschman Index rose from 166 to 4,163, but Hetzner's actual share decreased from 10% to 3.6%.

The consolidation reflects changing sample composition, not genuine centralization.

Clouds are the real risk

Submarine cable security concerns will escalate. Baltic investigations, the European Commission's security toolbox, and reporting on Russian infrastructure all point toward persistent geopolitical anxiety.

For Bitcoin, historical data suggest most cable events are noise.

The actionable infrastructure question is whether policy coordination, cloud outages, or hosting restrictions can produce connectivity shocks at the autonomous system layer.

The ASN-targeted scenario operates at 5% of routing capacity, the threshold for noticeable disruption to reachable clearnet nodes, not consensus failure.

Tor's majority share provides a floor under extreme scenarios. Protocol-level mechanisms the study excludes, such as block relay networks, compact block relay, and Blockstream Satellite, add resilience layers that the model does not capture, making estimates conservative.

Bitcoin is not fragile in the way critics imagine, but it is not detached from infrastructure either.

The network has shown graceful degradation under stress rather than catastrophic collapse. Censorship pressure pushed the adoption of infrastructure that strengthened resilience against coordination risks.

The threat model featuring cable-cutting submarines misses the chokepoint closer to home: a handful of networks where coordinated action could create temporary disruption without dramatic seabed operations or acts of war.

The post Seven internet cables were cut at once — Bitcoin barely noticed, but researchers found a real chokepoint appeared first on CryptoSlate.

On Mar. 5, Justin Sun reached a $10 million settlement with the SEC to resolve a civil fraud case that alleged he generated $31 million through wash-trading-style transactions and undisclosed celebrity promotions.

The settlement, which requires court approval and includes no admission of wrongdoing, moves the case toward dismissal.

The same day, US banking regulators announced that banks won't face additional capital charges for tokenized securities compared to traditional ones. This technology-neutral framing represents another brick removed from crypto's regulatory wall.

Sun's settlement lands a year into the President Donald Trump administration's regulatory retrenchment.

In May 2025, the SEC dismissed its civil lawsuit against Binance with prejudice. In October 2025, Trump pardoned Binance founder Changpeng “CZ” Zhao, who had pleaded guilty in November 2023 to anti-money-laundering and unlicensed money-transmission violations, paid billions in fines, and served four months.

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A House Financial Services Democrats letter from January 2026 alleges the SEC has dismissed or closed at least a dozen crypto-related cases since January 2025.

The beneficiary isn't only the broader US crypto market. Trump's own crypto network has positioned itself to capture outsized private gains from the distribution channels and business relationships these entrepreneurs control.

The token economics of presidential proximity

Within a year, two globally recognizable crypto entrepreneurs saw major US legal constraints ease.

Sun's settlement clears a civil fraud case but falls short of vindication. Binance's civil SEC dismissal came with prejudice. CZ's pardon was clemency, not a factual reversal of his guilty plea.

Over the same period, Trump's family-linked crypto ventures became direct beneficiaries of the renewed distribution of crypto.

Reuters calculated that the Trump Organization pulled in $802 million from crypto in the first half of 2025 alone, dwarfing other business lines, with World Liberty Financial's token economics accounting for the largest share.

World Liberty's Gold Paper allocates 75% of revenue from token sales to a Trump family entity after operating expenses are deducted. The stablecoin component launched in March 2025, USD1, adds another revenue stream through collateralized reserve yield, which Reuters estimated could generate tens of millions annually at scale.

Sun became one of the most prominent buyers of the World Liberty token, investing at least $75 million into the WLFI token presale and joining as an adviser.

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He also participated in the TRUMP memecoin ecosystem, with reporting linking a “SUN” wallet and HTX-connected activity to substantial holdings, though attribution remains contested.

Binance's intersection with Trump's crypto stack runs through a different channel: Abu Dhabi-backed MGX's $2 billion investment into Binance in March 2025, crypto's first institutional deal of that scale.

World Liberty co-founders confirmed that USD1 was used in that MGX-Binance transaction.

Reports found roughly $2 billion in USD1 sitting in a single wallet at a time when USD1 had only $2.1 billion in total circulation, illustrating how a single pipeline dominated early supply.

By February 2026, USD1 had grown to the sixth-largest stablecoin by market cap, according to Artemis, with approximately $4.4 billion in circulation.

When USD1 briefly dipped to around $0.994 on Feb. 23 after what World Liberty called a “coordinated attack” on X accounts, the peg recovered quickly.

The concentration of early USD1 supply around the MGX-Binance corridor and subsequent growth created a distribution advantage that World Liberty's revenue structure monetizes directly.

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The policy-to-profit feedback loop

The business design means enforcement retreats and incremental agency guidance reduce friction.

Reduced friction increases activity, and activity monetizes Trump-linked token and stablecoin economics.

Trump didn't have to orchestrate regulatory outcomes to be their primary private beneficiary. The overlap is mechanical: as legal overhang lifts from actors who control distribution channels, like Binance's exchange listings or Sun's investment capacity, the ventures that capture renewed participation benefit.

World Liberty's token and stablecoin structure sit at precisely those junctures.

Stablecoins have moved beyond niche crypto infrastructure to become macro-relevant collateral.
A Bank for International Settlements working paper from February 2026 found that a two-standard-deviation inflow into dollar stablecoins lowered three-month Treasury bill yields by roughly 2.5 to 3.5 basis points, with effects rising to 5 to 8 basis points during bill-scarcity periods.

Stablecoin growth now generates measurable demand for safe assets, inserting these instruments into rate and Treasury plumbing.

A European Central Bank working paper documented a “deposit-substitution mechanism” where stablecoin adoption reduces retail deposits and constrains bank intermediation.

Euro-area evidence that provides a rigorous frame for why US banks fight yield-bearing stablecoin features.

This maps directly onto current US legislative gridlock. The Clarity Act hit a fresh impasse largely because banks oppose stablecoin yield features that could accelerate deposit flight and because ethics and AML provisions touching Trump-linked ventures remain contested.

The total stablecoin market cap sits at around $313 billion, with 3.7% 30-day growth, according to DeFiLlama. Even without new legislation, the US is functionally easing the cost of operating crypto businesses, while Trump's stack is positioned as a tollbooth on distribution growth.

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Second-order winners and structural constraints

The first-order private beneficiary is Trump's crypto network. The second-order public beneficiary is the US crypto market as a whole, which gains from lower enforcement-risk premiums, faster product rollouts, and more US-facing listings.

That distinction matters because it separates correlation from causation without ignoring the observable flow of benefits. A settlement and a dismissal are not findings of innocence. A pardon is clemency, not exoneration.

Even when there's no provable link between enforcement outcomes and private business ties, the distribution and revenue outcomes are visible and quantifiable.

SEC Chair Paul Atkins said in February 2026 that the agency is refilling jobs after earlier White House-driven cuts, and he addressed accusations that it dropped crypto cases as political favors, noting that many decisions were made before he was sworn in.

The thaw extends beyond personalities. US regulators now lean toward “exemptive relief” for tokenized securities trials, while the UK favors sandboxes, a divergence that creates cross-border friction even as US policy tilts toward accommodation.

The next constraint may not be legal, but legislative and political.

Banks view stablecoins as deposit-substitution threats. Ethics language in proposed legislation could structurally cap Trump-linked projects even as the market grows, or it could land weakly and allow them to scale faster.

Entrepreneurs who have been cleared civilly or pardoned criminally still face reputational and market-access constraints if future enforcement agencies adopt a tougher posture.

Regulatory overhang can reemerge as a policy risk rather than purely a legal risk.

Why this matters

The concentration of benefit around Trump's crypto ventures raises conflict-of-interest questions without requiring proof of quid pro quo.

The revenue split, stablecoin reserve yields, and distribution touchpoints are all in public filings and reporting. The policy shift, with lower enforcement, incremental guidance, civil dismissals, and pardons, reduces friction.

The private capture of that reduced friction is most visible in ventures where token economics and stablecoin growth translate directly into presidential-linked income.

Trump didn't need to be the regulatory rollback's biggest beneficiary. The beneficiary status is observable.

As Trump-era regulators unwind legal overhangs from headline crypto figures, the clearest private upside accrues to Trump's own token and stablecoin stack, while the broader US market is the second-order winner. That pattern holds regardless of motive, and the numbers make it legible.

The post SEC pressure on crypto giants fades as Trump-linked project draws $75M from Justin Sun appeared first on CryptoSlate.

US markets move in seconds when the jobs report hits. February payrolls fell by 92,000 jobs, the unemployment rate rose to 4.4%, and prior months were revised down by 69,000.

Together, that's 161,000 fewer jobs than the numbers showed at the start of the year.

But the number traders react to first often isn't the one that lasts, because even bigger revisions can arrive months later.

The Bureau of Labor Statistics has already marked down US job growth by 862,000 for the year through March 2025, raising the possibility that markets and the Federal Reserve are reacting to a labor market that looks stronger in headlines than it does in the final data.

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Feb 22, 2026 · Andjela Radmilac

The number markets trade isn't the final number

That's the real story inside every monthly payroll release. Investors treat the jobs report as one of the most important macro prints, and for good reason.

The second a jobs report lands, treasury yields move, stock-index futures reprice, the dollar swings, and expectations for Fed cuts or delays get rewritten within minutes.

However, the number driving that first reaction is only an estimate. It's built from a survey, revised as more employer responses come in, and benchmarked later against a much broader set of payroll records.

That means the labor market that traders price in real time is often a draft. Sometimes the later edits are small, but sometimes they change the whole picture.

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February was weak, even before the reset

February's report was soft on its own. BLS said total nonfarm payroll employment fell by 92,000 in the month, while the unemployment rate rose to 4.4%. Health care lost 28,000 jobs, partly because of strike activity, and physician offices alone lost 37,000. Information shed 11,000 jobs.

Federal government employment fell by 10,000 and is now down by 330,000 from its October 2024 peak. Transportation and warehousing lost 11,000 jobs, with couriers and messengers down 17,000.

There was still wage growth in the report. Average hourly earnings rose 0.4% in February and 3.8% from a year earlier.

That matters because it keeps one part of the Fed's inflation problem alive even as hiring cools. A labor market can weaken and still produce wage pressure, especially when job growth is slowing from levels that had supported consumer spending for a long stretch.

However, revisions for previous months significantly weakened the report.

December was revised from a gain of 48,000 jobs to a loss of 17,000, and January was revised from 130,000 to 126,000.

Together, those changes subtracted 69,000 jobs from the earlier picture.

Investors are always trying to identify direction, and downward revisions tell them the labor market had already been losing momentum before the latest report landed.

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The 862,000-job revision changes the story

Then comes the larger reset. In its annual benchmark process, BLS reduced the March 2025 level of total nonfarm payroll employment by 862,000 on a not seasonally adjusted basis. On a seasonally adjusted basis, the March 2025 revision was 898,000 lower.

This kind of technical distinction matters to only economists. But the broader takeaway is much simpler: the labor market looked materially stronger in real time than it did once BLS compared the survey estimate with fuller employment records.

That large a number is no minor statistical cleanup. It's a reminder that one of the most market-sensitive data releases in the world is not a direct count of every US job. The first number is a high-quality estimate built for speed; the latter benchmark is the one that's built for completeness.

But when the gap between the two becomes this wide, it starts shaping the macro story.

The benchmark revision also changes how investors should think about the last year. A labor market that appeared resilient in real time helped support the case that the economy could live with restrictive rates.

A labor market that turns out to have created far fewer jobs makes that reading less secure. The data completely changed the balance of the argument.

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Why does the data change so much?

The monthly payroll figure comes from the Current Employment Statistics survey, which samples employers rather than counting every payroll in the country. While it's very large and incredibly useful, it's still just a sample.

Monthly revisions happen because additional employer reports arrive after the first release, and seasonal factors are recalculated.

The annual benchmark goes even further by aligning the survey with the Quarterly Census of Employment and Wages, which is based largely on unemployment insurance tax records and covers most of the payroll universe.

That creates an unavoidable tension for markets. Traders need a number immediately, so they trade the estimate. The Fed has to work with the same real-time information even while knowing later revisions may reshape it.

There's no practical solution or alternative to this. Some of the biggest market moves each month are based on numbers that may look meaningfully different once the data is more complete.

This is why payroll revisions aren't an obscure technical issue. They affect the story investors tell themselves about growth, inflation, and rates. If the labor market looked stronger in the first print than it does in the benchmarked data, then yields, risk sentiment, and rate expectations may all have been set against an economy that was softer than it appeared.

Nonetheless, the initial payroll figure still matters because it's timely, and timeliness has value. But the benchmark exists because the first number is not the final number, and because speed and completeness are not the same thing.

February's payroll decline matters, the rise in unemployment to 4.4% matters, and the downward revisions to prior months matter. The 862,000-job benchmark cut may matter the most, because it says the labor market that shaped so much of last year's macro debate looked firmer in the headline data than it does in the fuller count.

In markets, the first number gets traded. In labor data, it's not always the one that lasts.

The post 161,000 US jobs just disappeared after a revision as Bitcoin navigates increasingly messy macro data appeared first on CryptoSlate.

Bitcoin Price Prediction: Can BTC Recover After the Drop to $66K?

Bitcoin is currently trading near $66,000 after experiencing a sharp correction from its recent highs. After reaching levels above $120,000 earlier in the cycle, BTC has now lost almost half of its value during the latest market reset.

While some investors fear the bull market may be ending, historical patterns suggest these corrections are often a normal part of the Bitcoin cycle.

The key question now is whether Bitcoin is preparing for a recovery — or if another leg down could still occur.

Bitcoin Is Consolidating After a Major Correction

Bitcoin’s recent drop follows a familiar pattern seen in previous cycles.

In past bull markets, BTC often experiences 40–60% corrections before continuing upward.

Examples include:

• 2017 cycle: BTC dropped from $20K to $10K before continuing the trend.
• 2021 cycle: BTC fell from $64K to $30K before the next rally.
• 2026 cycle: BTC dropped from around $127K to nearly $62K.

This pattern shows that sharp corrections do not necessarily signal the end of a bull market.

Instead, they often represent a cooling-off phase after excessive leverage and speculation.

Key Support Levels for Bitcoin

From a technical perspective, several levels are now important for Bitcoin traders.

Major support zones:

• $62,000 – $64,000 (cycle low area)
• $58,000 – $60,000 (strong historical demand zone)

If Bitcoin remains above these levels, the broader bullish structure could remain intact.

Key Resistance Levels to Watch

For Bitcoin to regain bullish momentum, it would need to reclaim several resistance zones:

• $70,000 psychological resistance
• $75,000 – $80,000 previous consolidation range
• $100,000+ long-term breakout target

A break above $70K could signal renewed bullish momentum across the crypto market.

Macro Events Are Adding Volatility

Bitcoin’s recent volatility is also occurring alongside major global developments.

Markets are currently reacting to:

• Rising oil prices
• Escalating geopolitical tensions in the Middle East
• Increasing uncertainty across global financial markets

During these periods, investors often temporarily reduce exposure to risk assets such as cryptocurrencies.

However, some analysts argue that prolonged macro instability could eventually strengthen Bitcoin’s narrative as a hedge against global uncertainty.

Bitcoin Price Prediction

Based on the current structure, three main scenarios could unfold.

Bullish scenario

• BTC holds above $64K support
• Breakout above $70K
• Possible rally toward $80K–$90K

Neutral scenario

• Bitcoin consolidates between $60K and $70K for several weeks

Bearish scenario

• Breakdown below $60K
• Possible retest of $50K–$55K

For now, Bitcoin appears to be entering a consolidation phase, where the market resets before the next major move.

Are Cryptos Dead?

Every time the crypto market crashes, the same question resurfaces across social media and financial media:

“Is crypto finally dead?”

After the recent market drop, many investors are once again questioning the future of digital assets. $Bitcoin has fallen sharply from its recent peak near $127,000 to around $62,000, wiping out billions in market value and triggering widespread fear across the market.

Altcoins have been hit even harder, with some losing 50–70% of their value in a matter of weeks. But despite the panic, history suggests that these crashes are not the end of crypto — they are part of its natural cycle.

Here are three key reasons why crypto is far from dead.

1. Crypto Cycles Always Include 50% Crashes

Crypto markets are extremely cyclical. Major bull runs are almost always followed by deep corrections.

This pattern has repeated multiple times over the past decade:

In each cycle, investors believed the market collapse signaled the end of crypto. Yet every time, the market eventually recovered and pushed to new highs.

The current correction may feel dramatic, but historically it fits the same pattern that has defined crypto markets since their beginning.

2. Global Uncertainty Is Driving Market Volatility

The current market decline is also happening during a period of extreme global uncertainty.

Several macro factors are weighing on risk assets:

• Rising geopolitical tensions in the Middle East
• Surging oil prices
• Concerns about global liquidity
• Uncertainty around central bank policies
• Volatility across stock markets

When global uncertainty rises, investors often reduce exposure to risk assets such as crypto and move capital into safer assets like gold, cash, or government bonds. However, this does not mean crypto has lost its long-term relevance. It simply means the market is reacting to broader macro conditions.

Historically, once macro conditions stabilize, capital tends to flow back into high-growth sectors like crypto.

3. Crypto Adoption Is Still Growing

Perhaps the strongest argument against the “crypto is dead” narrative is that adoption continues to expand worldwide.

Over the past few years:

• Major financial institutions have launched Bitcoin ETFs
• Governments are exploring blockchain infrastructure
• Large corporations are integrating crypto payments
• Stablecoins are becoming a core part of the global digital economy

Even during market downturns, the underlying infrastructure continues to grow.

This is similar to the early internet era, where massive market crashes occurred while the technology itself kept advancing.

What Could Happen Next?

If historical patterns repeat, the current correction could represent a mid-cycle reset rather than the end of the market.

Crypto markets often experience:

1. Rapid price expansion
2. Excessive speculation
3. A sharp correction
4. Consolidation
5. The next major rally

While no outcome is guaranteed, previous cycles suggest that deep corrections often set the stage for the next phase of growth.

Conclusion: Are Cryptos Dead?

Crypto markets are highly volatile, and sharp corrections can easily trigger fears that the entire industry is collapsing.

But history shows a different story.

The current market decline reflects cyclical corrections, macro uncertainty, and profit-taking after massive gains — not the end of crypto. If anything, these downturns have repeatedly been the moments when the foundations for the next bull market were quietly built.

While the broader crypto market continues to move with mixed momentum, several altcoins have posted strong gains over the past week, attracting increased investor attention and trading volume. These tokens significantly outperformed many major cryptocurrencies, showing that altcoin rotations remain active even during uncertain market conditions.

Based on the latest market data, five altcoins stand out for their strong performance in the last 7 days, recording double-digit gains and demonstrating growing market interest.

Here are the top 5 altcoins that exploded in the last seven days.

1. OKB ($OKB) Leads the Weekly Rally

Among this week’s top performers is $OKB, which surged nearly 30% over the past 7 days, making it the strongest gainer among the listed altcoins.

• Price: $99.01
• 7-Day Gain: +29.67%
• Market Cap: $2.07 Billion
• 24h Volume: $86.5 Million

$OKB is the native token of the OKX ecosystem and often benefits from increased activity on the exchange platform. The recent rally pushed the token close to the $100 level, a key psychological milestone that traders are watching closely.

The strong weekly performance suggests renewed demand for exchange ecosystem tokens as market participation increases.

2. Humanity Protocol ($H) Sees Strong Interest

Another strong performer this week is $H, the token behind Humanity Protocol, which gained more than 23% over the last seven days.

• Price: $0.1528
• 7-Day Gain: +23.60%
• Market Cap: $384.6 Million
• 24h Volume: $54.1 Million

Humanity Protocol focuses on blockchain-based identity verification, a sector gaining attention as Web3 applications expand and digital identity solutions become increasingly important.

The surge in price and volume indicates growing interest in identity-focused blockchain infrastructure.

3. Pi Network ($PI) Maintains Strong Momentum

$PI, the token linked to the Pi Network ecosystem, also recorded a notable weekly gain of over 21%.

• Price: $0.2055
• 7-Day Gain: +21.14%
• Market Cap: $1.98 Billion
• 24h Volume: $67.9 Million

Pi Network remains one of the most widely discussed projects in the crypto community due to its massive user base and mobile-first mining model.

While the project continues to generate debate regarding its long-term utility, the token’s recent price movement highlights strong speculative interest from traders.

4. Kite ($KITE) Gains Momentum With High Trading Volume

$KITE is another altcoin that performed strongly this week, posting an 11.65% gain in the past seven days.

• Price: $0.2968
• 7-Day Gain: +11.65%
• Market Cap: $534.2 Million
• 24h Volume: $243.6 Million

What stands out about $KITE is its very high trading volume relative to its market capitalization, suggesting strong short-term trading activity.

Such conditions often attract momentum traders who look for assets with strong liquidity and rapid price movements.

5. Morpho ($MORPHO) Benefits From DeFi Momentum

Rounding out the list is $MORPHO, which gained 8.7% over the past week.

• Price: $1.85
• 7-Day Gain: +8.70%
• Market Cap: $746.2 Million
• 24h Volume: $14.7 Million

Morpho operates in the decentralized finance (DeFi) lending sector, aiming to improve efficiency in lending markets by optimizing interest rates between lenders and borrowers.

As DeFi activity slowly regains traction, protocols like Morpho are seeing renewed investor attention.

What This Week’s Altcoin Rally Means

The strong performance of these tokens highlights how capital continues to rotate across different sectors of the crypto market, even when major assets like $Bitcoin and $Ethereum consolidate.

If market sentiment remains stable, altcoins with strong narratives and trading volume could continue outperforming in the short term. However, investors should remain cautious, as rapid price increases can often be followed by increased volatility and corrections.

Ethereum Price Analysis: ETH Consolidates Near Channel Support

Ethereum ($ETH) is currently trading around $1,960 after pulling back from its recent local high near $2,180.

The 4-hour chart reveals that ETH has been moving inside a clear ascending channel formation, a technical structure that typically indicates a controlled bullish trend. Within this pattern, price repeatedly moves between a rising support line and a rising resistance line.

After rejecting from the upper boundary of the channel earlier this week, Ethereum has now returned toward the lower trendline support, a level that could determine the next major move.

Ascending Channel Formation Signals Potential Breakout

The chart shows a well-structured ascending channel, defined by two parallel upward-sloping trendlines.

Key elements of the formation include:

• Upper Channel Resistance: gradually rising toward $2,240–$2,260
• Lower Channel Support: currently located around $1,920–$1,940

This structure has already produced multiple bounces:

• Late February bounce from channel support
• Early March recovery from the lower boundary
• Recent rejection from the channel top near $2,180

Now Ethereum is once again approaching the lower support area, where buyers previously stepped in. If the pattern holds, another move toward the upper boundary becomes increasingly likely.

Ethereum Support Levels

Several important support levels are currently shaping ETH's short-term outlook.

• $1,920 – $1,940: This is the lower boundary of the ascending channel and the most important support level on the chart.
• $1,880: A previous swing low that could act as the next support if the channel breaks.
• $1,820 – $1,850: A deeper liquidity zone where Ethereum previously consolidated before the recent rally.

Key Resistance Levels to Watch

For Ethereum to continue its upward trajectory, it must reclaim several resistance zones.

• $2,050: First short-term resistance where price recently struggled.
• $2,150 – $2,180: The recent rejection zone where sellers entered the market.
• $2,240 – $2,260: The upper boundary of the ascending channel and the next major target if the bullish structure remains intact.

Ethereum Price Prediction: Possible Scenarios

Bullish Scenario

If Ethereum successfully defends the $1,930 support zone, the ascending channel formation suggests a continuation move higher. Potential upside targets include:

• $2,050
• $2,180
• $2,240 – $2,260

If momentum accelerates and the channel breaks upward, ETH could extend its rally toward $2,350 – $2,400.

Bearish Scenario

If ETH breaks below the channel support, the bullish structure would weaken. In that case, downside targets could include:

• $1,880
• $1,850
• $1,780

A breakdown could also trigger liquidations and accelerate short-term selling pressure.

Why Ethereum Is Currently Moving Sideways

Ethereum’s consolidation is happening in the context of broader macro uncertainty affecting financial markets.

Current factors influencing crypto sentiment include:

• rising geopolitical tensions
• volatility in oil markets
• global liquidity concerns
• shifting institutional capital flows

Because of these conditions, the crypto market is currently trading in consolidation ranges rather than strong trends.

Ethereum Short-Term Outlook

Technically, Ethereum remains constructively bullish as long as the ascending channel support holds. If buyers defend the $1,920 zone, the chart structure suggests a rebound toward $2,100–$2,200 in the near term.

However, losing that level could temporarily push ETH toward $1,850 before the market attempts another recovery.

For now, Ethereum sits at a critical technical level where a breakout or breakdown could define the next major move.

The meme coin sector is feeling the heat in March 2026. Shiba Inu ($SHIB) is currently trading near $0.0000055, down over 8% in the last seven days. Despite a headline-grabbing 53,000% spike in the burn rate, the price has failed to react positively.

Is Shiba Inu Price Down?

Despite the massive burns, SHIB is struggling to find a floor. Users are increasingly looking toward exchange inflow data to gauge if a "capitulation event" is near or if the current support at $0.00000545 will hold.

Why SHIB is Down: Geopolitical Volatility and Risk Appetite

The "Second Iran War" has effectively sucked the oxygen out of the "alt-speculation" market. High-risk assets like SHIB are often the first to be liquidated when military conflict escalates, as seen with the recent transfer of 157 billion tokens to exchanges. However, a contrarian "war-liquidity" thesis suggests that if the conflict forces a massive expansion of the US money supply to fund military operations, the resulting dollar devaluation could eventually benefit fixed-supply or "deflationary" meme coins. For now, however, the "risk-off" mood dominates, and SHIB remains a casualty of global instability.

Shiba Inu Price Prediction: Will SHIB Coin Recover?

In the last 24 hours, the surge in "exchange inflow" signals a clear intent to sell. If the broader market continues its sideways chop, SHIB may retest the "danger zone" at $0.00000530. The long-term hope rests on Shibarium adoption, which must provide enough utility to offset the current macro-driven sell pressure.

Crucial SHIB Levels

New wallet research aims to preserve a core feature exchanges use to generate deposit addresses without exposing private keys.

With fewer low-risk yield strategies in crypto, investors are turning to DeFi lending, sending Aave usage to record levels.

The proposal would give exchanges legal cover to temporarily freeze suspicious crypto while investigators move to secure warrants.

Whether Bitcoin’s resilience holds may depend less on battlefield developments than on how energy prices respond in the days ahead.

Vera Report was shaped by AlphaTON CEO Brittany Kaiser’s experiences as a whistleblower, and she hopes it’ll move the needle on fraud.

South Korea’s KOSPI plummeted over 9% and Japan’s Nikkei sank 6.5%, but the leading cryptocurrency has managed to weather the initial contagion.

Actor Terrence Howard has sparked a wave of social media ridicule after predicting the total demise of Bitcoin during a recent episode of the PBD Podcast.

XRP saw impressive growth in its network activity over the last day, causing the amount of tokens burned as fees during the period to rise by over 27%.

The market has not yet stabilized enough to enter a proper recovery period, and, unfortunately, a slight increase in pressure pushed most assets down.

Recent on-chain data from Glassnode reveals that XRP holders are currently facing a staggering $50.8 billion in unrealized losses.

Key Takeaways

• Nvidia has selected Samsung and SK Hynix as exclusive HBM4 memory providers for Vera Rubin, its next-generation AI accelerator
• Micron is excluded from the Vera Rubin supply agreement, causing MU shares to decline 6.74%
• Samsung successfully completed Nvidia’s HBM4 qualification at both 10 Gbps and 11 Gbps speeds; SK Hynix continues testing at 11 Gbps
• SK Hynix is projected to deliver more than 50% of Nvidia’s HBM requirements in 2026; Samsung’s portion increases to 28%
• Manufacturing is scheduled to commence in March, with Vera Rubin’s market debut planned for late 2026

Nvidia has designated Samsung and SK Hynix as the sole providers of sixth-generation high-bandwidth memory (HBM4) for the Vera Rubin AI accelerator platform, the Korea Economic Daily reports. Notably absent from this arrangement is Micron, which previously served as an important HBM partner.

The announcement triggered a 6.74% decline in Micron shares. Samsung’s Korea-listed stock fell 7.81%, while SK Hynix dropped 9.52%. Nvidia experienced a 3.01% pullback.

Micron Technology, Inc., MU

Vera Rubin represents Nvidia’s upcoming flagship AI platform, set to replace the current Blackwell architecture. The complete NVL72 rack setup combines 72 Rubin GPUs with 36 Vera CPUs and achieves 10x superior performance-per-watt compared to Blackwell.

Micron isn’t completely excluded from Nvidia’s roadmap. The company will provide HBM4 for Rubin CPX, a mid-range inference-oriented accelerator within the Rubin family. However, it won’t participate in the flagship Vera Rubin offering.

Samsung received approval after successfully meeting Nvidia’s stringent quality standards at 10 Gbps and 11 Gbps performance levels. SK Hynix continues validation efforts for the 11 Gbps specification but maintains its position as the largest HBM supplier globally.

SK Hynix Maintains Dominance, Samsung Expands Market Position

SK Hynix is anticipated to control approximately 50% of worldwide HBM production in 2026, a slight decrease from 59% in 2025. Samsung’s market share is expected to expand to 28%, rising from 20% the previous year.

SK Hynix is forecast to deliver over half of Nvidia’s combined HBM requirements — encompassing HBM3E — throughout 2026, and will likely lead HBM4 volume for Vera Rubin.

Both manufacturers are set to initiate HBM4 production this month. Vera Rubin remains on schedule for a second-half 2026 release.

Vera Rubin’s Target Applications

The Vera Rubin platform targets large-scale AI training and inference workloads, particularly the mixture-of-experts (MoE) architectures increasingly adopted in cutting-edge AI development.

Reported prospective customers include Microsoft, Amazon, Oracle, and Google. These cloud hyperscalers have been Nvidia’s primary customers in recent cycles.

The Vera Rubin NVL72 consumes twice the power of Blackwell while delivering significantly improved efficiency per watt, a critical factor for data center operators deploying these systems at massive scale.

HBM4 provides greater memory bandwidth than earlier generations, addressing one of the primary constraints in training and operating large-scale AI models.

Wall Street sentiment toward Nvidia remains optimistic. According to TipRanks, NVDA holds a Strong Buy consensus from 39 analysts, with one Hold rating. The average price target of $272.16 suggests approximately 53% potential upside from current trading levels.

Over the trailing 12 months, Nvidia stock has appreciated 66.2%, despite Monday’s decline following the supplier announcement.

Samsung and SK Hynix are preparing to launch HBM4 production in March 2026, with Vera Rubin systems expected to ship during the second half of that year.

The post Nvidia (NVDA) Selects Samsung and SK Hynix as Exclusive HBM4 Partners, Micron (MU) Left Out appeared first on Blockonomi.

TLDR

• Market strategist Ed Yardeni has increased the likelihood of a U.S. equity market crash from 20% to 35%
• Crude oil surpassing $100 per barrel is intensifying inflation concerns and dampening growth forecasts
• Bitcoin maintains a position near $67,000, showing more resilience than declining international stock markets
• Research from NYDIG indicates just 25% of Bitcoin’s price action correlates with traditional equity movements
• Leadership transition in Iran following recent conflicts points to ongoing geopolitical instability and market volatility

Prominent Wall Street analyst Ed Yardeni has significantly increased his forecast for a U.S. stock market crash, now placing the probability at 35% through the remainder of 2025. This marks a substantial jump from his previous 20% estimate. Simultaneously, he slashed the likelihood of a sustained market rally down to a mere 5%, compared to the earlier 20% projection.

This revised outlook emerges as crude oil prices have breached the $100 per barrel threshold. Elevated energy prices create a dual threat: they fan inflationary pressures while simultaneously constraining economic expansion, creating headwinds for both equity and cryptocurrency markets.

Yardeni characterized the situation bluntly: “The U.S. economy and stock market are stuck between Iran and a hard place. So is the Fed.”

Tensions between the U.S. and Iran show no signs of abating. Following Iran’s refusal to de-escalate, President Trump has indicated additional military action may be forthcoming. The Islamic Republic has also designated a new supreme leader, Mojtaba Khamenei, following the death of his father Ali Khamenei in a U.S. military operation. Senior Iranian security officials have declared that Trump “must pay the price” for the ongoing hostilities.

Bitcoin was changing hands near $67,378 during Monday trading sessions, registering a modest gain of slightly above 1% over the preceding 24-hour period. This represents relatively modest volatility when measured against the turmoil gripping conventional financial markets.

S&P 500 futures contracts plunged over 2% during Asian market hours. The VIX volatility index, commonly referred to as Wall Street’s fear gauge, reached levels not witnessed since the tariff-induced market disruption of April 2024. Meanwhile, the U.S. dollar recorded its strongest weekly performance in twelve months.

International markets experienced severe selling pressure. The MSCI global equity benchmark declined 3.7% during the previous week. South Korean markets continue struggling to recover from an unprecedented two-session collapse. Hedge fund managers have substantially increased bearish wagers against U.S. equity ETFs.

Market participants have also adjusted their Federal Reserve rate cut expectations, now anticipating the next reduction in September. Prior to the escalation of Middle East tensions in late February, traders had completely priced in a rate cut by July.

Bitcoin’s Price Is Not Fully Tied to Stocks

Analysis conducted by NYDIG reveals that approximately 25% of Bitcoin’s price fluctuations can be attributed to correlation with U.S. equity markets. The remaining 75% stems from dynamics unique to the digital asset ecosystem.

Greg Cipolaro, NYDIG’s head of research, explained that Bitcoin’s recent parallel movement with software sector stocks reflects common vulnerability to prevailing economic conditions rather than indicating a fundamental connection.

Nevertheless, Bitcoin has declined in tandem with equities during each significant risk-aversion episode since 2020.

Crypto-Linked Stocks Also Feel the Pressure

Equity securities with cryptocurrency exposure have experienced heightened volatility as investor sentiment turns increasingly defensive. Bitcoin mining operation Core Scientific liquidated a portion of its Bitcoin reserves while transitioning toward an artificial intelligence-oriented business model. The company’s shares declined around the timing of this divestment.

Ether posted a 2.3% gain, reaching approximately $1,981. Solana advanced 1.8% to $83.69, though it continues to underperform other major cryptocurrencies on a weekly basis, still showing a 1.5% decline over the seven-day timeframe.

Ten-year Treasury note yields surged six basis points as bond markets incorporated expectations for elevated inflation stemming from higher petroleum costs.

The S&P 500 recorded a 2% weekly decline, experiencing less severe losses than most international indices, partially attributable to America’s substantial domestic energy production capabilities.

The post Market Crash Risk Jumps to 35% as Bitcoin (BTC) Holds Steady Above $67K appeared first on Blockonomi.

TLDR

• Veteran analyst Ed Yardeni increased U.S. stock market crash probability from 20% to 35%
• Crude oil surpassing $100 per barrel drives inflation concerns and growth slowdown fears
• Bitcoin (BTC) maintains support around $67,000, showing resilience against declining equity markets
• NYDIG data reveals only 25% of Bitcoin price action correlates with traditional stock movements
• Leadership transition in Iran amplifies geopolitical tensions and market volatility

Prominent Wall Street analyst Ed Yardeni has dramatically increased his forecast for a potential U.S. stock market crash, raising the probability to 35% for the remainder of 2025 from his previous 20% estimate. Simultaneously, his outlook for a sustained market rally plummeted to merely 5%, down from 20%.

This revised forecast emerges as crude oil prices breached the $100 per barrel threshold. Elevated energy costs present a dual threat: amplifying inflationary pressures while simultaneously hampering economic expansion, creating headwinds for both equity and cryptocurrency markets.

Yardeni articulated the situation bluntly: “The U.S. economy and stock market are stuck between Iran and a hard place. So is the Fed.”

Tensions between Washington and Tehran continue intensifying. Following Iran’s refusal to de-escalate, President Trump has warned of additional military action. The Islamic Republic recently appointed Mojtaba Khamenei, son of the late Ali Khamenei who perished in a U.S. operation, as its new supreme leader. Senior Iranian security officials have declared that Trump “must pay the price” for the ongoing conflict.

Bitcoin hovered around $67,378 during Monday’s trading session, registering a modest 1% gain over the preceding 24-hour period. This represents notable stability considering the volatility gripping conventional financial markets.

S&P 500 futures plummeted over 2% during Asian market hours. The VIX volatility index, commonly referred to as Wall Street’s fear gauge, reached levels not witnessed since the tariff-induced turbulence of April 2024. Meanwhile, the U.S. dollar recorded its strongest weekly performance in twelve months.

International markets experienced severe disruption. The MSCI global equity index tumbled 3.7% during the prior week. South Korean markets continue struggling to recover from their historic two-day collapse. Hedge funds have substantially increased short exposure across U.S. equity exchange-traded funds.

Market participants have also adjusted Federal Reserve rate cut expectations, now anticipating the next reduction in September. Prior to the conflict eruption in late February, traders had completely priced in a July rate cut.

Bitcoin’s Price Is Not Fully Tied to Stocks

Analysis conducted by NYDIG indicates that approximately 25% of Bitcoin’s price fluctuations can be attributed to correlation with U.S. equity markets. The remaining 75% stems from cryptocurrency-specific market dynamics.

Greg Cipolaro, NYDIG’s research director, explained that Bitcoin’s recent parallel movement with software sector stocks reflects mutual sensitivity to prevailing economic conditions rather than fundamental structural linkage.

Nevertheless, Bitcoin has consistently declined alongside equities throughout every significant risk-aversion episode since 2020.

Crypto-Linked Stocks Also Feel the Pressure

Equities connected to the cryptocurrency sector have experienced substantial volatility as investor caution intensifies. Bitcoin mining operation Core Scientific liquidated portions of its Bitcoin reserves while transitioning toward an artificial intelligence-centric business model. Share prices declined around the divestment period.

Ether gained 2.3% to approximately $1,981. Solana advanced 1.8% to $83.69 but remains the poorest performer among major cryptocurrencies on a seven-day basis, still registering a 1.5% weekly decline.

Ten-year Treasury yields surged six basis points as bond markets incorporated higher inflation expectations stemming from elevated petroleum costs.

The S&P 500 declined 2% during the previous week, demonstrating relative outperformance compared to international counterparts, partially due to America’s substantial domestic energy production capacity.

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The post Bitcoin (BTC) Holds Steady as Wall Street Analyst Projects 35% Market Crash Risk appeared first on Blockonomi.

TLDR

• PI token rallied as much as 16%, reaching a three-month peak above the $0.23 mark
• V20.2 protocol enhancement was successfully deployed on March 7, requiring all node operators to upgrade by March 12
• Pilot testing demonstrated Pi Nodes can facilitate decentralized AI training by leveraging unused computational capacity
• Critical resistance sits at $0.28, a level where previous rallies lost momentum during Q4 2025
• March 14’s Pi Day celebration may feature major updates including validator compensation structure and possible Kraken exchange integration

Pi Network’s native cryptocurrency has experienced consecutive sessions of double-digit percentage increases, climbing to price levels not witnessed in approximately three months. This upward movement coincided with two significant technical and operational milestones within the ecosystem.

The V20.2 protocol enhancement was deployed across the mainnet on March 7. Node operators throughout the network face a mandatory implementation requirement, with March 12 established as the final deadline for compliance. Pi Network’s infrastructure currently operates across more than 421,000 active validator nodes. While brief service disruptions were observed during the migration phase, the distributed network has returned to synchronized operation.

This deployment represents the third incremental phase in Pi Network’s roadmap toward full implementation of version 23 of the Stellar consensus mechanism, with final rollout targeted for March 12, precisely two days ahead of the annual Pi Day celebration on March 14.

Decentralized AI Computing Proof-of-Concept

The development team behind Pi Network released a comprehensive case study earlier this week outlining an innovative application for the existing node infrastructure. Researchers investigated whether the distributed node network could effectively manage decentralized artificial intelligence training and computational workloads by utilizing idle processing resources.

The experimental initiative involved collaboration with seven volunteer node operators and OpenMind, a robotics company receiving investment support from Pi Network Ventures. Testing outcomes confirmed that computational assignments were properly distributed to participating nodes, with accurate results successfully transmitted back to external client applications.

With 421,000 operational nodes representing in excess of one million individual CPU units, the development team emphasized this largely dormant computational power could be monetized by offering infrastructure to external organizations requiring substantial computing capacity. Node operators would earn cryptocurrency-based payments for successfully executed tasks.

Pi Network’s ecosystem also includes tens of millions of identity-verified users who have completed KYC procedures, potentially creating opportunities for human-in-the-loop AI training methodologies requiring verified participant input.

Technical Analysis and Price Targets

From a technical trading perspective, PI Coin successfully breached a downward-sloping trendline at the $0.23 threshold that had previously constrained upward price movements throughout February. The Supertrend technical indicator has transitioned to bullish territory for the first time in several weeks, currently positioned at $0.1843.

The complete set of four exponential moving averages currently trades beneath the spot price. The 100-period EMA positioned at $0.1969 represents the nearest resistance barrier, while the 200-period EMA at $0.2876 serves as a more substantial overhead target.

The $0.28 price zone has emerged as the most critical level for market participants to monitor. During the fourth quarter of 2025, PI experienced a substantial rally from approximately $0.19 but encountered firm resistance at $0.28, ultimately leading to a price reversal. A decisive breakout above this threshold would significantly diminish the probability of history repeating itself.

Transaction volumes have expanded, though CryptoQuant’s spot volume metrics remain in neutral territory, indicating buying pressure has not yet escalated to excessive speculative levels characteristic of market tops.

PI currently holds the 40th position in market capitalization rankings on CoinGecko, commanding a valuation exceeding $2.2 billion. Approximately 21 million tokens entered circulation on March 7, with additional scheduled unlock events approaching in subsequent days.

The post Pi Network (PI) Rallies 16% Following V20.2 Protocol Upgrade and Decentralized AI Initiative appeared first on Blockonomi.

Key Highlights

• PI token climbed as much as 16%, reaching a three-month peak above the $0.23 threshold
• V20.2 protocol deployment was completed on March 7, requiring all node operators to upgrade by March 12
• Proof-of-concept testing demonstrated Pi Nodes can facilitate decentralized AI training through idle computing resources
• Critical resistance remains at $0.28, a level where the token previously encountered selling pressure in Q4 2025
• March 14’s Pi Day celebration may include major updates on validator incentives and possible Kraken exchange integration

Pi Network’s native cryptocurrency has recorded consecutive double-digit percentage increases, climbing to its strongest valuation in approximately 90 days. This upward movement coincided with two significant platform advancements.

The V20.2 protocol enhancement was activated on March 7. All mainnet node participants must implement this mandatory update before the March 12 deadline. Pi’s infrastructure currently operates across more than 421,000 active nodes globally. While some brief service disruptions occurred during implementation, the network has since achieved full synchronization.

This deployment represents the third phase of Pi Network’s migration toward version 23 of the Stellar consensus mechanism, with full integration scheduled for March 12—just 48 hours before the annual Pi Day celebration.

Decentralized AI Computing Exploration

The development team behind Pi Network released a case study documenting experimental applications for its node infrastructure. The research examined whether the Pi Node network could facilitate decentralized artificial intelligence training and computational workloads by leveraging unused processing capacity.

Seven volunteer node participants collaborated with OpenMind, a robotics company supported by Pi Network Ventures. Testing confirmed that computational assignments were successfully distributed to participating nodes, with accurate results delivered back to external clients.

With 421,000 operational nodes representing over one million CPU units, the platform possesses substantial untapped computational resources. According to the team, this capacity could be monetized by offering computing power to organizations requiring distributed processing infrastructure, with node operators earning cryptocurrency compensation for completed work.

Additionally, Pi Network’s ecosystem includes tens of millions of KYC-verified participants who could contribute human feedback for AI model training applications.

Critical Price Thresholds

From a technical analysis perspective, PI Coin successfully breached a downward-sloping resistance line at $0.23 that had limited upward movement throughout February. The Supertrend technical indicator switched to a bullish signal for the first time in several weeks, currently positioned at $0.1843.

All four exponential moving averages currently sit beneath the spot price. The 100-day EMA at $0.1969 represents the nearest resistance barrier, while the 200-day EMA at $0.2876 forms a higher obstacle.

Market participants are closely monitoring the $0.28 price zone. During Q4 2025, PI experienced a rally from approximately $0.19 before encountering resistance at $0.28, which initiated a subsequent price correction. Successfully breaking through this level would diminish concerns about history repeating itself.

Trading activity is increasing, though CryptoQuant’s volume metrics indicate neutral readings, suggesting speculative fervor hasn’t reached elevated levels yet.

PI currently holds the 40th position by market capitalization on CoinGecko, with total valuation exceeding $2.2 billion. Nearly 21 million tokens entered circulation on March 7, with additional unlock events planned for upcoming dates.

The post Pi Network (PI) Token Climbs 16% Following V20.2 Protocol Update and AI Node Integration appeared first on Blockonomi.

On-chain analytics firm Glassnode reported on March 8 that approximately 36.8 billion XRP, representing nearly 60% of the circulating supply, is currently held at a loss, with the total unrealized loss denominated in USD sitting at roughly $50.8 billion.

The figure highlights the extent of the asset’s recent downturn as it trades near $1.34, down more than 63% from its all-time high of $3.65 reached in July 2025.

Data Shows Large Unrealized Losses Across XRP Supply

The unrealized profit and loss metric measure the difference between the current market price and the price at which tokens last moved on-chain. This method weighs each coin by its purchase cost rather than simply counting how many tokens sit above or below market price. Analysts often use the indicator to gauge investor sentiment during different stages of market cycles.

XRP has struggled over multiple timeframes, down 0.5% over the past week, 7.1% monthly, and more than 42% in the last year. The persistent weakness has left the majority of holders facing paper losses of $50.8 billion, creating an environment where selling pressure could emerge if prices recover toward individual cost bases.

Earlier attempts to recover ground stalled near $1.45, with the rejection occurring during a week when U.S. XRP ETFs posted net outflows, including $16.62 million leaving the products on March 6, the largest daily withdrawal since late January.

Derivatives Activity Rises While Analysts Debate Market Cycle

Despite the heavy unrealized losses across the supply, trading activity in derivatives markets has picked up across several exchanges. According to CoinGlass data, XRP futures volume on BitMEX has spiked more than 7,000% to around $49 million, suggesting traders may have increased leverage while waiting for a clearer price direction.

Meanwhile, Binance recorded about $733 million in XRP futures volume in the last 24 hours, with other platforms like Bybit and OKX also reporting large turnover. At the same time, some indicators point to slower spot trading activity. Data shared by analytics account Arab Chain showed Binance’s 30-day volume Z-Score near −1.16, meaning daily trading volume currently sits below its recent average.

However, market commentary on X reflects mixed views about the next move, with XRP permabull EGRAG Crypto writing that the asset’s cycles often include both price declines and extended consolidation periods before a new expansion phase begins. In the same thread, the analyst suggested the current structure may represent a period of “time-based capitulation,” where sentiment resets during long sideways trading.

Other forecasts remain cautious, with some analysts arguing that XRP could revisit sub-$1 levels, with one projection pointing to a potential support area near $0.90 if the downward channel seen since mid-2025 continues.

The post Ripple Holders Alert: 60% of XRP Circulating Supply Currently Underwater appeared first on CryptoPotato.

Global markets have been under serious turmoil over the past week amid the ongoing war between Iran, the US, and Israel. The military conflict has broader geopolitical and economic implications, with many countries already feeling the consequences.

As CryptoPotato reported earlier, crude oil prices skyrocketed earlier on Sunday evening, reaching almost $120 per barrel. This resulted in considerable volatility in stock futures and crypto markets, which were falling as it was happening. But new reports are shifting the tides.

New Reports Send Oil Prices Sinking

As reported by the Financial Times, members of the G-7 are to discuss a joint release of oil reserves on Monday during an emergency meeting. Citing sources familiar with the matter, the report says the call is scheduled for around 13:30 CET and was initiated by France.

US oil prices fell immediately after the news broke and sank to as low as $101 per barrel within hours.

Commenting on the matter, the Kobeissi Letter said:

US Oil prices are currently attempting one of their biggest reversals in history. […] US oil prices are nearing $100/barrel and now up 12% on the day, erasing more than half of their daily gain.”

Meanwhile, US President Donald Trump also addressed the broader spike in the price of oil, calling it short-term and saying that it will drop:

Short-term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very samll price to pay for U.S.A., and World, Safety, and Peace. ONLY FOOLS WOULD THINK DIFFERENTLY!

Bitcoin Prices Attempt a Recovery

After tanking to an intraday low of around $65,600, Bitcoin’s price is attempting a recovery, currently trading at $67,400. The cryptocurrency rose to as high as $68,000, but buyers couldn’t sustain the move.

Oil prices have significant implications across multiple markets, and crypto is no exception. Being largely considered a volatile risk-on segment, prices often react negatively to economic turmoil.

At the time of this writing, the total market capitalization stands at $2.38 trillion, up 0.2% in the past 24 hours, according to CoinGecko.

The post Oil Price Craters on Reports that G7 Could Release 400 Million Barrels: Crypto Market Reacts appeared first on CryptoPotato.

The Hollywood actor best known for movies like Hustle & Flow, which secured him an Academy Award nomination, the original Iron Man, and Get Rich or Die Trying, has joined the bitcoin skeptics’ side.

In a recent appearance on Patrick Bet-David’s PBD Podcast, he envisioned BTC’s upcoming demise. However, he is not the first, and many, many have been wrong in the past.

‘Bitcoin Is Going to Die’

Bitcoin death proclamations are nothing new, as they have been going left and right ever since the network (and underlying asset) saw the light of day over 17 years ago. Although such strong statements have declined in number lately, there are still some that make it out to the open, and when they are coming from a famous person, especially one not related to the cryptocurrency industry, we have to explore.

Howard falls under both categories. While speaking on different investments during the PBD Podcast, he was emphatic, stating:

“Bitcoin is going to die, I don’t mess with it.”

He explained that he recently received a call from a friend of his who offered him an investment opportunity that would earn him $75,000 if he put down $25 million. However, he failed to provide details on what the investment was or how it was related to bitcoin, as the cryptocurrency itself does not promise such returns.

“Bitcoin is still based on fiat, and because the dollar is decreasing in its value, because of the uncertainty of war around. Nobody wants their money in something that can be wiped out with the push of a button somewhere. I’ve stayed clear of it because it has been dropping a great deal,” ends the video on X.

Let’s Dissect

Aside from the lack of details on the aforementioned investment opportunity, there are some other controversial statements in Howard’s words. First, bitcoin is NOT based on fiat – it’s commonly priced in fiat currencies, but 1 BTC is always 1 BTC.

Second, we didn’t really understand the part of “because of the dollar is decreasing and the uncertainty of war around” – perhaps he related that to his last statement that BTC has been dropping a great deal lately.

That’s true, the asset trades 50% away from its all-time high seen in October last year. However, it trades around its previous ATH, and the more macro scale shows massive returns for investors. Additionally, BTC tends to move in cycles and now appears to be the bearish period.

The part of “nobody wants their money in something that can be wiped out with the push of a button” is also interesting. And wrong. Who is that someone? What’s that button? How can it wipe out BTC? And – ‘nobody wants their money’ in bitcoin? Really? What about the billions in ETF inflows? Or corporations buying bitcoin as their preferred reserve asset? Or, even governments buying BTC?

Anyways, bitcoin is no stranger to being declared dead. In fact, there have been nearly 500 such documented cases during its teenage existence. For now, though, nobody has been correct.

Been going to zero since 2009 Terrence, my boy pic.twitter.com/zyQrsi6h2y

— Ron Sovereignty Swanson (@RonSwanonson) March 9, 2026

The post ‘Bitcoin Is Going to Die’ – The Latest Death Warning Comes from Oscar-Nominated Actor appeared first on CryptoPotato.

Crypto markets saw another red Monday morning as digital assets erased last week’s gains and returned to their sideways channel.

The only thing going up at the moment is oil prices, with crypto, commodities, and US stock futures all falling on Monday morning.

President Donald Trump said oil prices “will drop rapidly” when the “Iran nuclear threat is over,” adding that it is a “very small price to pay.”

Economic Events March 9 to 13

Crude oil prices have skyrocketed to $116 per barrel as oil futures opened higher on Sunday evening. This has resulted in major volatility in stock futures and crypto markets, which are falling.

The Kobeissi Letter described it as “one of those days that will be referenced for decades to come,” with oil prices surging 25% on a Sunday, US stock market futures erasing over $2 trillion, and “20 million barrels per day of oil supply offline with no signs of deescalation,” it added.

The week ahead will add to that volatility, starting on Wednesday with February’s CPI (consumer price index) inflation data. There is only one way inflation can go with fuel prices skyrocketing.

The delayed January reading of the Federal Reserve’s preferred inflation gauge, the personal consumption expenditures (PCE) price index, is due on Friday, adding fuel to the fire.

The timing is significant ahead of the Fed’s rate-setting meeting on March 18, which has a 95.5% probability of no rate changes, according to CME Group futures markets.

The PCE print is expected to show that prices increased 0.4% month-on-month in January, matching December’s pace, and would be the second consecutive “hot” reading.

Key Events This Week:

1. US Stock Market and Oil Futures Open – 6 PM ET TODAY

2. February Existing Home Sales data – Tuesday

3. February CPI Inflation data – Wednesday

4. US Q4 2025 GDP Data – Friday

5. January PCE Inflation data – Friday

6. January JOLTS Job Openings data…

— The Kobeissi Letter (@KobeissiLetter) March 8, 2026

Surging gasoline prices tied to the Middle East conflict could influence inflation expectations and consumer spending behavior, as broader markets go into selloff mode.

Crypto Market Outlook

High-risk crypto assets are particularly sensitive to geopolitical conflict, and markets have retreated $40 billion over the weekend to $2.36 trillion.

Bitcoin saw resistance at $68,000 on Sunday and tanked below $66,000 before a marginal recovery during Asian trading on Monday morning. The asset remains in the middle of its range-bound channel but is heading for the lower bands.

Ether prices saw similar declines, failing to reclaim $2,000 over the weekend and falling back to $1,960 at the time of writing. The altcoins were mostly flat over the past 24 hours.

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American Bitcoin (ABTC) is expanding its Bitcoin mining operations by purchasing 11,298 new ASIC equipment.

The acquisition is expected to increase the company’s total capacity by 12%, supporting its strategy of accumulating BTC through mining operations.

The 12% Capacity Expansion

ABTC said in a March 3 press release that the new miners will add 3.05 exahash per second (EH/s) to its owned capacity, with the machines scheduled for deployment in March 2026 at the Drumheller site in Alberta, Canada.

Each unit is expected to operate at an efficiency rate of approximately 13.5 joules per terahash (J/TH), compared with the company’s current fleet average of 16 J/TH.

“As Bitcoin matures, the priority is clear: grow American-owned, professionally operated hashrate,” said co-founder Eric Trump. “That’s how we protect the network, drive innovation, and lead the future of Bitcoin in America.”

Following this purchase, American Bitcoin’s owned fleet will increase by 12% to 89,242 miners, representing about 28.1 EH/s of total owned capacity. The managed fleet contains all miners held by the company, including units that may not currently be operational.

Once the new equipment is online, the working fleet will comprise 58,999 miners delivering around 25.0 EH/s with an average efficiency of approximately 14.1 J/TH. For comparison, the largest publicly listed BTC miners currently operate at roughly 50 EH/s.

Bitcoin Accumulation Strategy

Matt Prusak, president of ABTC, said the company makes every decision to maximize its accumulation of the OG cryptocurrency. The miner firm previously reported that it ended 2025 with 5,041 BTC on its balance sheet, which has since grown to more than 6,000 BTC.

He also explained that the firm’s fleet strategy focuses on deploying high-efficiency hardware, optimizing energy costs, and maintaining the flexibility to scale operations in response to network and market conditions.

Following the recent deployment of high-efficiency machines, the company aims to produce BTC at a structurally advantaged cost basis and grow its total holdings per share through disciplined mining operations and capital allocation.

Meanwhile, the expansion comes when several public miners are redirecting capital and infrastructure toward AI workloads. Companies such as Core Scientific, Riot Platforms, Cipher Mining, and Bitdeer have repurposed parts of their data center capacity to support the technology.

American Bitcoin itself reported a net loss of $59.45 million in the fourth quarter of 2025, compared to a $3.48 million profit a year earlier.

For the three months ending December 31, the company’s revenue was $78.3 million, up from $64.2 million during the same period last year, but slightly lower than the $79.6 million analysts had anticipated.

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