[Crypto + Director's Notes!] 1) Bitcoin has risen over 6% in 24 hours, reaching the $70,000-$71 range. The overall crypto market cap has also risen by 5.5% to $2.54 trillion, and Ethereum has also recovered to the $2,000 level, showing signs of a rebound. However, the Fear and Greed Index remains at 22, an extreme level of fear. Prices have risen, but sentiment has yet to catch up. 2) The Korean KOSPI suffered a record-breaking crash this week. It fell 7.24% on the 3rd and plunged another 12.06% the next day, recording its largest daily drop ever. South Korea, which is highly dependent on energy, has been hit hard by the surge in oil prices due to the escalating war in the Middle East. Foreign investors reportedly sold over 21 trillion won (approximately $20 billion USD) of Korean stocks in February alone. But what's interesting is that there's analysis suggesting that the money lost from the KOSPI is being rotated into crypto! 3) Fortune reported that a16z Crypto is raising $2 billion for its fifth fund. While this is less than half of the $4.5 billion fund scheduled for 2022, it signals a continued bet on blockchain despite the market downturn, and plans to close the fund within the first half of 2026. 4) Binance has partnered with Ondo Finance to revive tokenized securities trading! With regulatory approval from the Abu Dhabi ADGM, large-cap US stocks like Apple, Google, Nvidia, and Tesla can now be traded as tokens. 5) Magic Eden announced that it will be gradually shutting down its NFT marketplace, including Bitcoin, Ethereum, and Polygon, starting March 9th. Since Solana already accounts for over 85% of trading volume, the remaining chains are being shut down due to a lack of cost-benefit ratio. Multi-chain wallets will also be completely shut down on April 1st, so anyone holding assets on these chains should withdraw them immediately. 6) Looking at the NFT market as a whole, the market cap has fallen below $1.5B, returning to pre-2021 levels. However, it's interesting that Polymarket increases the probability of an NFT comeback in 2026 to 65%. Platforms like OpenSea and Zora are pivoting towards DeFi and token trading, and with gaming accounting for 38% of NFT activity, there's a strong sense of a shift towards utility. Personally, I find the KOSPI plunge → crypto rotation quite noteworthy. Given that the Korean market is a highly liquid market, I believe this capital flow could be more than just a short-term bounce! A16z is pushing a $2B fund even during a market downturn, and Binance Ondo's RWA tokenization is another example. Ultimately, those investing in infrastructure are continuing to bet. The fact that these movements are occurring at a Fear & Greed Index of 22 suggests that it's a sign that we might be nearing a bottom, even if it's just a cerebral tactic!