JPMorgan Chase: Market Capitalization of 14 Listed Bitcoin Mining Companies Shrank 25% in March
March was one of the worst periods in history for Bitcoin mining companies, according to JPMorgan Chase. The 14 mining companies, including the likes of MARA and Core Scientific, suffered a 25% drop in their combined market capitalization, totaling nearly $6 billion. These firms also lost more than 20% in February, the company said.
Grayscale Executives: The Impact of Tariffs on Cryptocurrency May Already Be Priced In
Zach Pandl, Research Director at Grayscale, stated that the cryptocurrency market has largely priced in the effects of tariffs. Pandl predicts that tariffs may have reduced economic growth by 2% this year. He also expects the markets to recover if the new tariff policies announced are soft and gradual.
Eric Trump: Bank Bans And Boycott Culture Drove Our Family Into Crypto
Eric Trump explained that the blockades and boycotts imposed by banks on their families led him to the crypto sector. He stated that his father’s relations with banks were terminated for no reason due to his political activities. Eric Trump highlighted the anti-censorship features of cryptocurrencies, calling them a more advanced technology compared to the traditional financial system.
Chairman of the US House of Representatives Financial Services Committee Rejects Interest Stablecoin Proposal
Committee Chairman French Hill announced his opposition to Coinbase CEO Brian Armstrong’s interest-bearing stablecoin proposal. Hill said that there is no consensus in Congress on paying interest to holders of dollar-collateralized stablecoins. Therefore, the interest-bearing stablecoin proposal seems to have little chance of moving forward for the time being.
Bitcoin Policy Institute Proposes Bitcoin Bonds to Reduce US Debt
The Bitcoin Policy Institute (BPI) has announced an initiative that proposes issuing Bitcoin bonds to reduce the US national debt. 90% of the bond proceeds would be used for debt repayments, while 10% would be used for direct Bitcoin purchases. It was stated that this model would allow the US to acquire Bitcoin independent of the budget.
UK Trade Bodies Ask Government to Make Crypto a Strategic Priority
Six trade organizations in the UK have asked the government to appoint a special envoy for crypto-assets and create an action plan for digital assets. The requests were submitted to Varun Chandra, advisor to Prime Minister Keir Starmer. The goal was to provide the strategic focus that would generate investment, growth and jobs for the crypto sector.
SEC and Gemini File Joint Motion to Freeze Litigation
The SEC and Gemini stated that they are seeking a settlement in the lawsuit filed over the Gemini Earn program. Both parties have asked the court to stay the case for 60 days. During this time, it is planned to work on a potential deal.
Bitcoin Spot ETFs Experienced Net Outflows of $158 Million Yesterday
On April 1, it was reported that there was a total net outflow of $ 158 million from US Bitcoin spot ETFs. Bitwise BITB ETF stood out with a single-day inflow of $ 24.5254 million. BITB’s cumulative net inflow reached $2.019 billion.
Ethereum Spot ETFs Experienced a Net Outflow of $ 3.5825 Million
Ethereum spot ETFs experienced a total net outflow of $3.5825 million on April 1. Only 21Shares ETF CETH recorded positive inflows. CETH stood out with a daily inflow of $1.7158 million, bringing its total net inflow to $13.3341 million.
Arthur Hayes Family Office Terminates Consulting Relationship with Drift Protocol
Maelstrom, the family office of BitMEX founder Arthur Hayes, announced that it has ended its advisory relationship with Drift Protocol. In the statement, it was stated that previous articles and content on this subject are no longer valid. It was also stated that Hayes no longer holds tokens in the protocol.
Metaplanet Increased Its Bitcoin Holdings by 160 BTC, Reaching a Total of 4,206 BTC
Japan-based company Metaplanet bought 160 more Bitcoins, bringing its total BTC holdings to 4,206. The company spent approximately 1.998 billion yen ($13.34 million) for this purchase. This step shows that Metaplanet considers Bitcoin as a long-term strategic reserve asset.
by Darkex Research – 1 min read
