🤝 SEC and Ripple finally dismiss the case

Today, Ripple agreed to withdraw its appeal and pay only $50 million of the original $125 million fine.

In response, the SEC will also withdraw its appeal and ask the judge to lift the restrictions imposed on the company.

Once all formalities are completed, the case will be finally closed.

💵 Tether generates $548 million in revenue per month, leading all protocols!

The closest competitor is Circle ($182 million)

Top 15 in CryptoRank infographic

😄 Fun fact:

If Michael Saylor had bet on ETH instead of bitcoin, Strategy was at a 9 billion loss, not a 9 billion profit as it is today.

👀 Rumor has it that the U.S. government is willing to sell 2% of its gold reserves, and move into bitcoin.

If this is true, this may be one way to not violate “budget neutrality” (i.e. not using taxpayer funds to directly buy bitcoins).

📊 Folks on Twitter are summarizing Trump's two-month presidency:

- Tesla stock: $10,000 invested the week of the inauguration has fallen to $5208 in early March and $6278 currently.

- Bitcoin: a $10,000 investment would be worth $7981 today.

- Ethereum: a $10,000 investment has dropped to $5285.

- Gold was the only asset to show growth - the same $10,000 in January turned into $11,531 today.

🐶 Ilon Musk: The US government has no plans to use Dogecoin, and the Department of Government Efficiency (D.O.G.E) has nothing to do with memcoin

For those who bought on hayah, we are sorry for your loss

❗️ At the end of the first quarter of 2025, Bitcoin is 12% cheaper and Ethereum has collapsed 45%

This is the worst quarter in ETH history since 2018.

📊 How the coins in the top 20 in 2017 fell from their all-time highs

Bitcoin fell by 80%, Litecoin by 96.

🇺🇸 Paul Atkins, Trump's nominee, endorsed by Senate committee to head SEC

🖤 The committee voted: 13 in favor, 11 against. Now it's on to the final vote in the Senate.

🖤 Atkins is seen as crypto-friendly - he will replace the retiring Gary Gensler, and will likely finally roll back the old “regulation by lawsuit” policy.

🖤 Senator Elizabeth Warren has already criticized the appointment, calling it a “gift to crypto fraudsters,” and also mentioned Musk and the SBF.

ecoinometrics

Bitcoin will face new headwinds from risk assets.

The NASDAQ 100's 30-day loss is now comparable to a COVID drop or bear market in 2022.

Given bitcoin's strong correlation with risk assets, this indicates a challenging environment ahead.

🔍 The market is actively discussing the decoupling of bitcoin from the S&P 500 index

One of two things:

1) BTC has transformed into a standalone asset type in this crisis
2) BTC is simply lagging behind the S&P 500 and we have a leading signal ahead of an even bigger drop

Meanwhile, the head of CryptoQuant believes that we have officially entered a bear market

❌ FTX has canceled more than $2.5 billion in customer claims due to KYC violations

Nearly 400,000 users failed to verify before the March 3 deadline - their claims were completely rejected.

▶️Общая the sum of rejected claims could exceed $3.3 billion.

▶️FTX is preparing to start paying major creditors from May 30 - $11.4 billion will be repaid at November 2022 exchange rates.

🙊 According to FTX's lawyers, they have received “27 quintillion filings” in the process - of course this is sarcasm, but it clearly conveys the level of absurdity and the number of fake claims.

😭 Arkham fixed trader liquidated 12 hours before pamp

You'll say that's just what always happens to you. But this guy is special

His liquidation (drum roll) is $100 million, and this position has been open for 6 (six!) years!

We don't envy his therapist.

🔍 About 25% of the total bitcoin supply is currently at a loss

This is the highest level of unrealized losses since early September 2024, when up to 30% of the supply was in the negative

However, the price was at $54000 then

🆕 Paul Atkins is the new SEC chairman

Senate voted 52-44

During a Senate Banking Committee hearing in March, Atkins promised to make ensuring a strong regulatory framework for digital assets a top priority of his administration

He also promised to undo some of the SEC's regulatory approaches under Gary Gensler

🪙 Bitcoin typically lags the world's M2 money supply by 70-90 days

It's been 80 days since the world's new money supply growth began. Buckle up. �

The founder of Binance CZ believes that the bitcoin exchange rate will exceed $1 million sooner or later.

We are only at the beginning of the journey

🇺🇸 Senator Tim Scott: crypto market legislation will be passed by August

The head of the Senate Banking Committee said that Congress will approve two key pieces of legislation by August:

▶️ On crypto market structure - will determine who regulates exchanges, tokens and platforms (SEC or CFTC) and how.

▶️ On Stablecoins (GENIUS Act) - will establish rules for issuing dollar-denominated cryptocurrencies.

Scott emphasized that we need to “let innovation develop first” before we regulate. At the moment, the bills are supported by both Republicans and Democrats.