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Bitcoin and Ethereum spot ETFs extend inflow streak
Bitcoin spot ETFs recorded a total net inflow of $180 million on March 13 (EST), marking the fifth consecutive day of positive flows, according to data from SoSoValue.
BlackRock’s IBIT led the market with a single-day net inflow of $144 million, accounting for the majority of the capital entering Bitcoin ETFs.
Meanwhile, Ethereum spot ETFs also maintained strong momentum, posting a combined net inflow of $26.69 million and extending their inflow streak to four consecutive days. BlackRock’s ETHA recorded the largest daily inflow among Ethereum ETFs at $32.39 million.
$BTC $ETH

Binance’s decision to sue The Wall Street Journal is not unusual, as the exchange has previously taken legal action against media outlets it believes published misleading coverage. What may be different this time is how the market interprets the move.
In earlier years, conflicts between Binance and the press were often seen as signs of looming regulatory trouble. But the current environment appears more favorable for the exchange, especially after the Ủy ban Chứng khoán và Giao dịch Hoa Kỳ dropped its civil case against Binance and Changpeng Zhao received a pardon from Donald Trump. These developments have led some investors to believe that regulatory pressure from Washington may be easing.
At the same time, legal and political risks have not disappeared. Investigations linked to alleged Iran-related transactions, scrutiny from Senator Richard Blumenthal, and ongoing lawsuits show that Binance still faces potential legal challenges.
The key question for investors is whether negative headlines about Binance still signal major regulatory threats. If the U.S. policy environment is indeed becoming less hostile, the market may react less strongly to such news, reducing the “fear premium” that has historically weighed on Binance.
Ultimately, the lawsuit against the Wall Street Journal may signal that Binance believes it now operates in a more favorable political and regulatory climate—one where the risks of fighting back against media criticism are lower than before.
$BNB

The U.S. Treasury Department sanctioned six individuals and two entities linked to a North Korean scheme that used fraudulent IT workers to infiltrate American companies and generate revenue for Pyongyang. According to the Treasury’s Office of Foreign Assets Control, the operation produced nearly $800 million in 2024 alone.
North Korean operatives allegedly used stolen identities and forged documents to secure remote jobs at U.S. and allied firms. Much of their income was reportedly redirected to fund the country’s nuclear and bal.listic missile programs, sometimes alongside malware deployments inside company networks.
The sanctioned individuals operated across several countries, including Vietnam, Laos, and Spain. One Vietnamese businessman was accused of converting about $2.5 million into crypto for North Korean operatives between 2023 and 2025.
All U.S. assets linked to the sanctioned parties have been frozen, and Americans are barred from doing business with them. Authorities also warned that foreign financial institutions could face secondary sanctions if they facilitate transactions for the designated individuals.
North Korea–linked hackers remain a major threat in the crypto sector. In 2025, they reportedly stole more than $2 billion in digital assets across multiple attacks, including a nearly $1.5 billion hack targeting the crypto exchange Bybit.

Eli Ben-Sasson, founder of Starknet and cofounder of Zcash, has reignited debate about the original vision of Satoshi Nakamoto and the early philosophy behind Bitcoin.
The discussion was sparked by a resurfaced screenshot from the Bitcoin Talk dating back about 16 years. The archive shows that early Bitcoin developers were not opposed to the creation of alternative blockchains. In fact, Hal Finney — the first person to receive a Bitcoin transaction — was actively discussing the BitDNS project, which later became Namecoin. Finney suggested launching it as a fork of Bitcoin, meaning a separate blockchain where tokens could be purchased using BTC.
Historical discussions also reveal that Satoshi himself participated in debates about BitDNS and opposed the idea of storing domain name data directly on Bitcoin’s main blockchain. Instead, he supported the idea of creating specialized blockchains for certain functions.
Satoshi also proposed technical concepts that would allow miners to mine Bitcoin and an alternative coin at the same time without sacrificing security. This indicates he envisioned a cooperative relationship between networks rather than eliminating potential competitors.
According to Ben-Sasson, these early discussions suggest that the original vision for the crypto ecosystem was more flexible and multichain-oriented. While modern Bitcoin maximalists often argue that only BTC should exist, early developers appeared to see alternative chains and forks as natural extensions that could expand the broader ecosystem built around Bitcoin.

USDC surpasses USDT in adjusted transaction volume this year: Mizuho
Analysts at Mizuho said the adjusted transaction volume of USD Coin (USDC) has surpassed that of Tether (USDT) year-to-date, reversing a long-standing trend.
According to the research note, USDC now accounts for about 64% of the market share in adjusted transaction volumes compared to USDT. This marks a notable shift from the 2019–2025 period, when USDT consistently led USDC in transaction activity.
Mizuho defined “adjusted volume” as activity across addresses associated with centralized exchanges (CEXs), decentralized exchanges (DEXs), or other entities, while filtering out addresses that executed more than 1,000 transactions or more than $10 million in volume within any 30-day period.
In other words, the metric aims to capture transfers that resemble real economic activity by individuals or institutions. Examples include companies paying suppliers, users placing bets on prediction markets, or funds moving between exchanges and DeFi protocols.
Despite the shift in transaction activity, USDT remains the largest stablecoin globally in terms of supply. The market capitalization of USDT currently stands at about $184 billion, while USDC’s market cap is around $79 billion.
Mizuho analysts noted that USDC appears to be gaining traction in everyday real-world applications, particularly in payments. They added that in the long run, the stablecoin that sees the most use in daily economic activity—rather than simply the one with the highest market capitalization—may ultimately emerge as the dominant player.

Stanley Druckenmiller says stablecoins could power global payment systems
Billionaire investor Stanley Druckenmiller said stablecoins and blockchain-based tokens could significantly improve financial system productivity by making payments faster and cheaper.
Speaking in an interview with Morgan Stanley, the founder of Duquesne Capital Management noted that blockchain technology could play an important role in modernizing global financial infrastructure.
“Blockchain and the use of stablecoins — if you want to throw crypto into that — tokens, incredibly useful in terms of productivity,” Druckenmiller said. He added that he expects much of the global payment system to run on stablecoins within the next 10 to 15 years due to their efficiency, speed, and lower costs.
His comments come as the stablecoin sector continues to expand rapidly. The total stablecoin market capitalization has climbed to nearly $300 billion, up more than 440% from roughly $55 billion five years ago.
Some policymakers in Washington have also argued that stablecoins could strengthen the global role of the U.S. dollar. Patrick Witt, executive director of the President’s Council of Advisors for Digital Assets, recently said that stablecoins compliant with the GENIUS Act could attract global demand for dollar-denominated assets and bring new deposits into the U.S. banking system.
Despite his optimism about blockchain-based payment infrastructure, Druckenmiller reiterated his long-standing skepticism toward crypto as a store of value. He described crypto as “a solution looking for a problem.”
However, the veteran macro investor acknowledged the staying power of major digital assets such as Bitcoin, noting that they have evolved into recognizable financial “brands” embraced by investors.

FBI has launched an investigation after several PC games on the Steam platform were discovered to contain malware.
According to the agency, some of the titles appeared to function like normal games but secretly installed malicious software on players’ computers. The FBI said the threat actor primarily targeted users between May 2024 and January 2026.
The investigation is focusing on several games, including BlockBlasters, Chemia, Dashverse, DashFPS, Lampy, Lunara, PirateFi, and Tokenova. Some of these titles, such as Chemia and PirateFi, were removed from Steam last summer after being found to contain malware.
Steam, the PC gaming distribution platform operated by Valve Corporation, is one of the largest digital marketplaces for games. In 2025, the platform recorded more than 132 million monthly active users and hosted over 117,000 titles. Despite appearing to be legitimate games approved for sale, the infected titles instead installed malicious software on players’ systems.
The FBI is now seeking information from gamers who may have downloaded the affected titles. The agency said it is legally required to identify victims of federal crimes and noted that affected individuals may be eligible for certain services, restitution, and legal rights under federal or state law. Officials also stated that the identities of victims will remain confidential.
Malware campaigns targeting gamers have become increasingly common. In 2023, a fan-made game based on Super Mario from Nintendo was found to contain malware capable of hijacking crypto wallets, stealing passwords, and installing background crypto-mining software.
In March 2024, cybersecurity group VX Underground warned that players searching for cheat software for the Call of Duty series were exposed to malware capable of draining Bitcoin wallets. The campaign was estimated to potentially affect more than 4.9 million gaming accounts across multiple platforms.
More recently, cybersecurity firm Kaspersky reported discovering an infostealer hidden in pirated mods for Roblox and other games.

Boris Johnson calls Bitcoin a “giant Ponzi scheme”
Former UK Prime Minister Boris Johnson has launched a sharp attack on the crypto industry, describing Bitcoin as a “giant Ponzi scheme.”
In a recent Daily Mail column, Johnson argued that digital assets lack intrinsic value and largely rely on the “greater fool” theory, where investors buy assets hoping someone else will pay a higher price later.
He warned that ordinary people are increasingly falling victim to crypto-related fraud and speculation. Johnson even claimed that a vintage Pokémon trading card could be a safer long-term investment than Bitcoin.
The former prime minister also compared Bitcoin with traditional stores of value such as gold and fiat currencies. According to him, while fiat money may lose value over time, it is still backed by the authority of the state. In contrast, he argued that decentralization — a core principle of crypto — is actually its biggest weakness.
“If no one is in charge, then there is no one to complain to if it loses value,” Johnson wrote, noting that there is no central banker to fire or government to vote out.
Notably, Johnson’s own administration previously promoted pro-crypto policies. In 2022, then-Chancellor Rishi Sunak announced plans to turn the United Kingdom into a global hub for crypto-asset technology and investment.

The Official Trump (TRUMP) memecoin surged up to 59% after large investors accumulated the token following the announcement of a second gala event for top holders at President Donald Trump’s Mar-a-Lago club. The price briefly climbed to around $4.40, its highest level in over a month, before pulling back to about $4.
On-chain data from Lookonchain and Arkham Intelligence shows that several newly created wallets withdrew roughly 2.54 million TRUMP tokens worth about $8.8 million from Binance, suggesting whales are driving the rally. One wallet alone withdrew about 2.2 million tokens and is already sitting on an unrealized profit of more than $2.3 million.
The buying surge came after the project launched a promotion offering invitations to an April 25 event at Mar-a-Lago. The top 297 holders during the qualification period from March 12 to April 10 will receive invitations, with the top 29 gaining access to a VIP reception with the president.
Despite the recent rally, TRUMP remains down about 94% from its peak near $74 shortly after its launch in early 2025.

PIP Labs sheds staff as Story Protocol leans into AI
PIP Labs, the developer behind the layer-1 network Story Protocol, has reduced its workforce as the company shifts focus toward opportunities tied to artificial intelligence.
The company confirmed that five full-time employees and three contractors were let go, representing roughly 10% of the staff contributing to the Story ecosystem across multiple entities, including the Story Foundation and infrastructure layer Poseidon.
Story Chief Protocol Officer Andrea Muttoni said the move is part of a strategic effort to sharpen the company’s focus as it increasingly explores the intersection between intellectual property infrastructure and AI. In particular, the firm is leaning into areas such as AI training data markets and the growing role of autonomous AI agents.
Story Protocol was originally positioned as a blockchain network designed to simplify how creators license, remix, and monetize intellectual property through programmable licensing that can automatically distribute royalties. In 2024, PIP Labs raised $80 million in a Series B funding round led by Andreessen Horowitz, valuing the company at around $2 billion.
The Story network launched last year alongside its native IP token. According to data from CoinGecko, the token has declined roughly 86% over the past year to around $0.80 after reaching an all-time high of $14.78 in September.
Despite the layoffs, the company says it remains focused on building infrastructure around intellectual property across multiple industries, including media and biotech, while increasingly adapting its platform for a future where machine-driven users such as AI agents play a larger role in digital ecosystems.

Kraken-linked SPAC searches for acquisition target worth up to $10 billion
KRAKacquisition Corp., a special purpose acquisition company backed by crypto exchange Kraken, is searching for a potential acquisition target valued at up to $10 billion, according to director Ravi Tanuku.
The SPAC, formed in January, raised $345 million through an initial public offering, starting a two-year window to identify a private company for a reverse merger that would take it public.
Tanuku said the firm has not yet determined what the target company will look like, but it is likely to focus on businesses connected to crypto, stablecoins, DeFi, or payment infrastructure. He noted that Wall Street’s interest in companies tied to stablecoins and tokenization has surged over the past year.
While the $10 billion figure is only an approximation, Tanuku said the eventual target could also fall closer to a $2 billion valuation. The wide range reflects KRAKacquisition’s broad interest in helping small- and mid-cap companies access public markets.
He added that taking smaller-cap companies public has become increasingly difficult, making SPACs an alternative pathway for firms operating in the digital asset sector.
Tanuku described KRAKacquisition as a strategic investment vehicle for Kraken, potentially allowing the exchange to align economically with another company through a meaningful equity stake. Kraken’s willingness to lend its brand to the SPAC also signals its commitment to the initiative.
The search comes as Kraken itself is considering an initial public offering this year. The exchange previously confidentially filed a registration statement with the U.S. Securities and Exchange Commission and completed an $800 million fundraising round that valued the company at around $20 billion.
In its registration filing, KRAKacquisition also argued that the long-term decline in the purchasing power of the U.S. dollar has strengthened the case for “hard assets” such as Bitcoin as inflation hedges.

Vitalik Buterin says Ethereum should be viewed as a core infrastructure tool rather than something that must be inserted into every application.
He highlights three key roles for Ethereum:
Global data bulletin board – Ethereum can act as a public, tamper-resistant place to publish data that anyone can verify but no one can delete. After the PeerDAS upgrade, data storage capacity has increased while costs have fallen significantly.
Payment and anti-spam mechanism – In open, permissionless systems, small ETH fees help prevent abuse such as Sybil attacks. ETH functions as a universal payment method for services like permissionless APIs and can also serve as a security deposit.
Smart contract security layer – Smart contracts enable mechanisms like security deposits, where users lock ETH that can be slashed if rules are violated. They also support advanced payment systems and digital objects representing real-world entities.
Buterin concludes that Ethereum can be seen as a shared global memory for the internet, combining blockchain data availability, ETH payments, and programmable smart contracts to support future decentralized, open-source, private, and secure systems.

Bitcoin and gold ETFs have recorded sharply diverging capital flows since the Iran conflict escalated late last month, reflecting a shift in investor positioning between the two assets. According to JPMorgan, the largest gold ETF saw outflows equal to about 2.7% of its assets under management, while BlackRock’s spot bitcoin ETF attracted inflows of roughly 1.5% during the same period.
This divergence reversed the earlier advantage that gold ETFs had over bitcoin ETFs in year-to-date flows. However, JPMorgan noted that gold funds still maintained stronger performance during the fourth quarter of 2025.
Looking at a longer time frame, bitcoin ETFs continue to lead gold ETFs in cumulative inflows. JPMorgan estimates that BlackRock’s bitcoin ETF has attracted roughly twice as much capital as the largest gold ETF since 2024. The analysts also highlighted that the assets under management of the bitcoin ETF nearly caught up with the gold ETF last July before widening again after bitcoin’s market correction that began in October.
Institutional positioning has also shifted in recent months. Short interest in the bitcoin ETF has increased, while short interest in the gold ETF has declined, suggesting that hedge funds and other institutional investors have reduced exposure to bitcoin while favoring gold. Options market data also shows a more cautious stance toward bitcoin, with a higher put-to-call ratio indicating stronger demand for downside protection.
Despite this cautious positioning, JPMorgan said bitcoin’s market structure continues to mature, with increasing use of options and signs of improving liquidity. The bank remains bullish on the long-term outlook for crypto and has reiterated its long-term bitcoin price target of $266,000 based on a volatility-adjusted comparison with gold.

Ethereum could face further downside despite rising network activity, according to CryptoQuant. The firm says ETH may fall to around $1,500 if the bear market continues, potentially by late Q3 or early Q4.
Although daily active addresses on Ethereum recently hit a record high, ETH has dropped more than 50% from its recent cycle peak. CryptoQuant describes this as an “adoption paradox,” where growing network usage no longer correlates with price gains.
At the same time, smart contract activity and internal contract calls have surged as DeFi, stablecoins, and Layer 2 networks expand. However, the historical positive relationship between contract activity and ETH price has weakened.
CryptoQuant also notes higher ETH inflows to exchanges relative to Bitcoin, suggesting stronger selling pressure. Meanwhile, Ethereum’s one-year realized capitalization change has turned negative, indicating capital is leaving the network despite rising on-chain activity.

JPMorgan sued over alleged $328M crypto Ponzi scheme
JPMorgan Chase is facing a proposed class-action lawsuit alleging the bank provided the core banking infrastructure for a $328 million crypto Ponzi scheme operated by Goliath Ventures.
The complaint, filed in the U.S. District Court for the Northern District of California by investor Robby Alan Steele on behalf of more than 2,000 victims, claims the bank served as the sole banking institution for Goliath between January 2023 and around May or June 2025. Steele alleges he personally lost $650,000, including $310,000 in cash and $340,000 withdrawn from his 401(k) retirement account.
According to the lawsuit, approximately $253 million was deposited into Goliath’s JPMC 0305 account at Chase during that period. About $123 million was later transferred from the account to wallets at Coinbase.
The filing further states that roughly $50 million was distributed to investors as supposed returns, which prosecutors say were largely funded using deposits from newer investors — a typical hallmark of a Ponzi scheme.
Goliath had marketed “joint venture agreements” promising profits from crypto trading strategies and digital-asset arbitrage. However, U.S. prosecutors allege the operation functioned as a classic Ponzi scheme that used incoming investor funds to pay earlier participants.
Authorities arrested Goliath CEO Christopher Delgado on Feb. 24 in connection with the case.
The lawsuit argues that JPMorgan ignored several warning signs that should have triggered anti-money-laundering alerts, including rapid fund inflows and outflows, commingling of investor deposits, transfers between related accounts, and circular payment patterns commonly associated with Ponzi schemes.
Plaintiffs claim the bank’s monitoring systems, including the Actimize transaction-analysis platform, should have detected the suspicious activity but continued to service Goliath’s accounts.

Binance Alpha removes 21 tokens from featured list
Binance announced that 21 tokens will be removed from the featured list on Binance Alpha following a recent review. The change took effect at 12:00 UTC on March 12, 2026.
The tokens removed include: MIRROR (Black Mirror Experience), SHARDS (WorldShards), FST (FreeStyle Classic), DGC (DecentralGPT), COA (Alliance Games), ULTI (Ultiverse), TGT (TOKYO GAMES TOKEN), AGON (AGON Agent), BNB Card, AFT (AIFlow), PFVS (Puffverse), SGC, RDO (Reddio), ELDE (Elderglade), MILK (MilkyWay), TAT (Tell A Tale), BOT (Hyperbot), SSS (Sparkle), SUBHUB (SubHub), PLANCK (Planck), and OOOO (oooo).
According to Binance, these tokens no longer meet the standards required to remain featured on Binance Alpha. However, the removal does not affect users’ ability to sell the tokens.
Users can still sell them through Binance Wallet by navigating to the Market tab and trading the assets, or directly within Binance Alpha under the Asset section.
Binance also warned that tokens listed on Binance Alpha typically carry higher risk and may experience significant price volatility. Users are advised to manage risk carefully and conduct their own research before trading.

A U.S. federal judge in Alabama dismissed a lawsuit accusing Binance, Binance.US operator BAM Trading Services, and former CEO Changpeng Zhao of aiding terrorism financing. The court ruled that the plaintiffs’ complaint failed to meet basic federal pleading standards because it grouped multiple defendants and allegations together without clearly linking specific actions to each party.
The lawsuit, filed by victims and relatives of attacks attributed to Hamas and Palestinian Islamic Jihad, exceeded 100 pages and contained hundreds of allegations. However, the judge said it did not clearly explain which defendants were responsible for which actions or how those actions were connected to the attacks.
Rather than permanently dismissing the case, the court ordered the plaintiffs to submit a revised complaint by April 10, 2026, warning that failure to correct the deficiencies could lead to dismissal.
The ruling comes shortly after another federal court in New York dismissed a separate terrorism-financing lawsuit against Binance for failing to plausibly connect the exchange’s conduct to specific attacks.

CFTC warns of manipulation risks in prediction markets
The U.S. Commodity Futures Trading Commission (CFTC) has issued new guidance urging exchanges to exercise caution when listing prediction market contracts, particularly those that could be easily manipulated, such as bets tied to athlete injuries or narrowly defined sports outcomes.
According to the regulator, exchanges must act as the first line of defense to ensure that event-based contracts are not readily susceptible to manipulation or abusive trading practices under existing derivatives market regulations.
Prediction markets allow traders to buy and sell contracts tied to the outcomes of real-world events, including elections, economic data releases, and sporting events. As the sector grows rapidly, however, it has also drawn increasing scrutiny from regulators.
Officials warned that certain types of contracts may carry higher manipulation risks. Contracts linked to individual player injuries, unsportsmanlike conduct, or highly specific sports outcomes could create incentives for participants to influence the results.
Earlier, the prediction market platform Polymarket faced controversy after on-chain analytics identified a cluster of newly funded wallets that earned roughly $1 million betting on the possibility of a U.S. strike on Iran shortly before airstrikes occurred.
Meanwhile, Kalshi also drew criticism for hosting a contract related to whether Iran’s Supreme Leader could be replaced, which some critics described as resembling a “death betting” market.
Despite regulatory and ethical debates, the prediction market sector continues to expand rapidly. Platforms such as Kalshi and Polymarket are reportedly exploring new fundraising rounds at valuations near $20 billion.
Trading activity has surged as well, with combined monthly trading volume on the two platforms reaching about $18.6 billion in February and already surpassing $8 billion in early March.

The team behind the memecoin linked to Donald Trump is promoting a new exclusive conference and luncheon for top holders of the TRUMP token at Mar-a-Lago on April 25.
Invitations will be sent to the top 297 holders based on their time-weighted average holdings on Robinhood between March 12 and April 10, with the top 29 receiving access to a VIP reception and champagne toast with Trump and other special guests.
The token briefly rose about 3% after the announcement but remains down roughly 96% from its peak near $74 in early 2025. The promotion mirrors a similar event last year that faced criticism from lawmakers and watchdog groups over concerns that wealthy investors could effectively buy access to the president.

Crypto trader loses nearly $50 million in Aave swap
A crypto trader lost nearly $50 million after executing a massive swap for AAVE through the Aave decentralized finance interface.
According to Aave founder Stani Kulechov, the trader attempted to exchange $50 million in USDT for AAVE. Due to the unusually large order relative to available liquidity, the platform displayed a warning about extraordinary slippage and required manual confirmation before the trade could proceed.
Despite the warning, the user completed the transaction on a mobile device. The swap ultimately returned only 324 AAVE tokens, worth about $36,100 at current market prices, implying an effective loss of roughly $49.96 million.
Aave engineer Martin Grabina explained that the main issue was not slippage but the extreme price impact of the trade. The quote already indicated that $50 million in USDT would return fewer than 140 AAVE before fees, meaning the rate was highly unfavorable from the start.
Kulechov said the transaction was routed through CoW Swap and the system functioned as designed, since the user had to explicitly accept the risk before proceeding. He added that the team will try to contact the trader and return about $600,000 in fees generated from the transaction.
The incident highlights the risks of executing very large trades on decentralized exchanges without splitting orders, as limited liquidity can cause severe price impact.