1. Top CEX Coins
Top 10 CEX Trading Volume and 24-Hour Price Changes:
BNB: -8.42%
BTC: -5.39%
ETH: -12.25%
SOL: -10.24%
Doge: -15.29%
XRP: -11.66%
RARE: 52.1%
MOVE: 2.91%
ADA: -10.16%
24H Gainers (Data from OKX):
DORA: 5.1%
OM: 3.07%
UMA: 2.73%
IP: 2.23%
HMSTR: 1.1%
VRA: 1.17%
LOOKS: 0.75%
LEO: 0.53%
ACT: 0.26%
ZKJ: 0.01%
2. Top 5 On-Chain Meme Coins (Data from GMGN):
BTRUMP
ROGER
YODA
PIPE
WTFO
3. 24H Trending Coins
GRK: GRK saw a short-lived price surge in the community due to a reply from Grok, but it has not been officially endorsed by Musk or Grok AI.
Headlines
UK Treasury: "No Plans" to Introduce US-Style BTC Reserves
According to market sources, the UK Treasury has stated that it has "no plans" to introduce US-style BTC reserves.
According to a post by EleanorTerrett on X platform, US Senator Bill Hagerty has officially released the updated stablecoin bill - GENIUS ACT.
The latest text has expanded the section on "mutual recognition of payment-type stablecoins issued in overseas jurisdictions" compared to the February version, adding requirements for reserves, regulations, anti-money laundering and counter-terrorism measures, sanctions compliance standards, liquidity requirements, and risk management standards, in order to facilitate international transactions and enhance interoperability with overseas-issued USD payment-type stablecoins.
This bill may have far-reaching implications for the global stablecoin market and cross-border payment systems, with more details awaiting further interpretation.
Sources reveal that Trump plans to sign an executive order as early as this week, overturning the Biden administration's policy of restricting crypto firms' access to banking services, particularly "Operation Chokepoint 2.0". Sources say the order may also address the Federal Reserve's "master account" policy, easing crypto bank access. However, as an independent institution, the Fed's policies are typically not directly influenced by the White House. Additionally, the executive order may cover stablecoin regulations, clarifying that stablecoins should not be treated as securities. Senior White House officials plan to meet on Thursday to assess the potential legal hurdles of the executive order before submitting it to President Trump for signing.
Industry News
Coinbase to Launch 24/7 BTC and ETH Futures Contracts in the US
According to official information, Coinbase has announced that its CFTC-regulated futures exchange, Coinbase Derivatives, LLC, will launch its first 24/7 BTC and ETH futures contracts, allowing US traders to manage risk and seize opportunities without interruption. Coinbase is also developing a perpetual futures contract to unlock a key product that US traders have long lacked.
Kraken Granted EMI License by UK FCA
According to official information, the cryptocurrency exchange Kraken has officially received an Electronic Money Institution (EMI) license from the UK Financial Conduct Authority (FCA), allowing it to issue electronic money and accelerate deposits and withdrawals for its clients, thereby strengthening its market position in the UK.
Thai Regulator Designates Tether Stablecoin USDT as Compliant Cryptocurrency
According to official information, the Thai Securities and Exchange Commission has designated the Tether stablecoin USDT as a compliant cryptocurrency, marking a critical moment in the development of digital assets in the region and an important step in clarifying and strengthening Thailand's regulatory framework. This will provide investors with greater flexibility and choice, while promoting a more vibrant and resilient industry. By enabling the seamless integration of USDT, this decision supports the diversification and modernization of Thailand's financial landscape.
Project News
MyShell Releases SHELL Buyback Statement: Remaining Assets to Be Transferred to New Market Maker
MyShell has released an "Official Statement on Binance Announcement and $SHELL Buyback Plan":
"On March 7, we received a notification from the Binance team about abnormal activities involving one of our market makers. In response, we immediately terminated our relationship with that market maker and onboarded several new partners to ensure stable liquidity. All Binance accounts associated with that market maker have been suspended, and all remaining assets will be transferred to our new market makers. Additionally, all stablecoins sold by that market maker will be used to buy back $SHELL within 90 days. To ensure full transparency, we will publish the wallet addresses related to the buyback for community verification. We are also working closely with Binance to make this process open and transparent."
According to official information, Avalon Labs has announced the successful acquisition of a minimum $2 billion credit facility, provided by a renowned Asian conglomerate. This milestone marks a significant development in the institutionalization of crypto lending. This historic breakthrough not only represents an important milestone in the institutionalization of DeFi, but also highlights Bitcoin's strategic position in the global financial system. Leveraging this credit support, Avalon Labs will provide institutional-grade USDT liquidity, while offering a fixed 8% lending rate and a yield mechanism based on the USDa stablecoin, to build a more robust and efficient BTC over-collateralized lending ecosystem. As a leading BTC stablecoin issuer and lending platform, Avalon Labs is driving the deep integration of DeFi and traditional finance, guiding global institutions into the new era of Bitcoin-powered finance.
Regulatory Updates
According to the updated regulations "Virtual Asset Service Providers (Amendment) Regulations 2025" effective April 1, 2025, the Cayman Islands will require cryptocurrency custodians and trading platforms to obtain licenses to operate. Existing companies in the country must submit applications by June 29, 2025, detailing their asset security measures and operational details. Major crypto firms like Coinbase, Binance, and Bitwise have already obtained licenses in the Cayman Islands, while companies like Sui Foundation have established their headquarters there.
Opinion: Lawyer believes SEC's recent memecoin guidance suggests a shift in crypto regulatory policy
A lawyer at Gibson, Dunn & Crutcher said the SEC's recent memecoin guidance may indicate an adjustment in its crypto regulatory policy, potentially impacting the application of the Howey test. The SEC previously stated that memecoins are generally not to be considered securities, as purchasers' funds are not pooled for project development, and prices depend on market speculation and collective sentiment. This stance contradicts the SEC's previous position in lawsuits against crypto exchanges, and may affect secondary market trading of digital assets. The move is seen as the SEC gradually moving away from the aggressive regulatory approach of former Chairman Gary Gensler, providing clearer direction for the development of US crypto policy.
Voices
Arthur Hayes: Bitcoin may bottom at $70,000, waiting for central bank easing to add more
Arthur Hayes posted on the X platform, stating he will remain extremely patient, and predicts Bitcoin may bottom around $70,000, implying a 36% drop from the all-time high of $110,000, which is a common adjustment in a bull market. He believes the stock market, particularly the SPX and NDX, will enter a free-fall phase. He then expects the Federal Reserve, European Central Bank, and Bank of Japan to adopt easing policies to stimulate economic recovery in their respective countries.
He advises "going all in" in this scenario. For traders, while they may miss the bottom, they can avoid prolonged volatility and potential unrealized losses. If more cautious, one can wait for the central bank easing policies to be implemented before increasing capital allocation.
Due to a new round of selloffs on Wall Street, Bitcoin has fallen below the key $80,000 support level and is approaching the $78,000 low, as investors broadly shift from risk assets to safe-haven assets. Analysis firm Kobeissi stated that the US Department of Memes (DOGE) cutting government spending is one of the causes of the economic recession, as they believe US government spending and employment growth have been "driving" economic development, but DOGE's cost-cutting will have far-reaching impacts. It remains unclear where a more reliable bottom for BTC's price may form.
