Six institutions, including BlackRock, hold 88% of tokenized US Treasuries
Six institutions hold 88% of tokenized US Treasuries, according to Cointelegraph. BlackRock BUIDL is the largest holder with $2.5 billion worth, followed by Franklin Templeton BENJI ($7.07 billion), Superstate USTB ($6.61 billion), Onderstaedt Finance USDY ($5.86 billion), Circle USYC ($4.87 billion), and Onderstaedt Finance OUSG ($4.24 billion).
SEC Cryptocurrency Task Force Meets with Ondo Finance to Discuss Tokenized Securities
The U.S. Securities and Exchange Commission's (SEC) cryptocurrency task force met with Ondo Finance (ONDO) today to discuss the issuance of tokenized securities. The meeting was also attended by representatives from law firm Davis Polk & Wardwell. The SEC and Ondo discussed tokenized securities model structuring, registration and broker-dealer requirements, market regulation, and financial crime compliance.
Alleged Trump Insider Address Reopens $27.62 Million BTC Short Position An address believed to be a Trump insider has reopened a 40x BTC short position. "The address closed its long MELANIA position 20 minutes ago and subsequently opened a 40x leveraged 326 BTC ($27.62 million) short position on BTC using 690,000 USDC," said on-chain analyst EmberCN. The entry price was $84,566 and the exit price was $85,545."
Volatility Shares to Launch SOL Futures ETF, Leveraged Product March 20 U.S. fund manager Volatility Shares will launch a solana futures ETF on 20 March, according to Bloomberg Senior ETF Analyst Eric Balchunas. It will be the first SOL futures ETF in the U.S. to track the price of solar futures. A leveraged 2x Solana ETF will also be launched.
BlackRock "sees BTC as a global currency alternative" "BlackRock, the world's largest asset manager, has said that Bitcoin is emerging as a global currency alternative," crypto media watcher Guru X reports. Earlier, BlackRock's head of digital assets, Robert Michenick, told Yahoo Finance that "institutional adoption of Bitcoin has increased, but it's still not priced in".
Bitnomial plans to drop SEC lawsuit over XRP futures launch In the wake of the US Securities and Exchange Commission (SEC) dropping its appeal against Ripple, crypto derivatives exchange Bitnomial has announced plans to drop its lawsuit against the SEC over the launch of XRP futures, former Fox Business reporter Eleanor Terrett told X. Bitnomial is set to launch XRP futures contracts tomorrow (20th local time) after receiving approval from the Commodity Futures Trading Commission (CFTC). Last year, shortly after announcing the launch of an XRP futures product, Bitnomial filed a lawsuit against the agency after the SEC warned that the launch could violate securities laws.
Powell ‘Economy remains stable... No rush to adjust rates’ US Federal Reserve (Fed) Chairman Jerome Powell delivered a speech in which he said that ‘the economy remains stable despite uncertainty. With a strong labour market and inflation nearing its long-term goal of 2%, the Fed sees no need to rush to adjust interest rates,’ he said. ‘The Fed needs to separate the signal from the noise in the economic data and refrain from making hasty decisions. We will wait for clearer data to emerge.’
CNBC ‘China, Middle Eastern Countries Considering BTC Buying Strategy’ China and Middle Eastern countries are considering a strategy of buying Bitcoin, according to a CNBC report cited by the WatchGuru X account.
US House Financial Services Chairman ‘Trump Must Work with Congress on BTC Strategic Reserve Plan’ French Hill, Chairman of the US House Financial Services Committee, has released a statement saying that ‘President Donald Trump should work with Congress on a Bitcoin Strategic Reserve proposal’.
crypto are not on the right path... ‘Binance introduces community voting to listing process’ is the worst. Binance has announced on its official website that it is introducing a community voting mechanism to its listing and delisting process. Users will be able to vote for their favourite projects, and the ones that receive the most votes and pass the Binance team review will go through to actual listing.
White House to ‘begin auditing government cryptocurrency holdings’ Following US President Donald Trump's signing of an executive order to stockpile BTC, a senior White House official said that ‘one of the things we're going to be doing is auditing government cryptocurrency holdings’. ‘We're also going to capitalise cryptocurrencies that are seized in legal proceedings under the executive order,’ he added, according to Bloomberg.
US crypto tsar ‘mentions ADA-SOL-XRP in relation to reserves, because it's a top 5 coin’ David Sacks, the Trump administration's Director of Cryptocurrency and AI (Crypto Tsar), has said that he ‘mentioned ADA, SOL, and XRP in the context of crypto reserves because they are the top five cryptocurrencies by market capitalisation,’ according to foreign media.
According to The Block, Standard Chartered (SC) analyzed in a report that the US may sell its gold reserves to fund a BTC stockpile. "The key to this stockpile proposal is that the executive order must find a way to acquire additional BTC, but it must be budget-neutral, i.e., it must not cost the government any additional money. Strategies to do this could include selling gold and buying Bitcoin. The U.S. government currently holds $760 billion in gold. Alternatively, you could tap into the U.S. Treasury's Exchange Stabilization Fund (ESF). This fund currently holds $39 billion in assets. Alternatively, Senator Cynthia Loomis's ‘Bitcoin Act of 2024’ could be amended to purchase 200,000 BTC over five years in a budget-neutral manner." SC added, "The US announcement of BTC stockpiling is likely to trigger ‘FOMO’ (fear of missing out) in other countries. Already, Abu Dhabi holds 4,700 BTC worth of IBIT (Bitcoin ETF), and other sovereign wealth funds are likely to join the ranks of Bitcoin buyers." Meanwhile, the White House is hosting a crypto summit today at 4pm.
March highlights as of 7 March - US Non-Farm Payrolls - US White House pushes to host crypto summit - Binance RWA Themes Lead, Ondo Finance spot Possible Listing (Community Information) - JTO unlocked 5.46% of total circulating supply - 12th US February Consumer Price Index (CPI) - 13th US February Producer Price Index (PPI) - 19th Japanese interest rate decision - 20th US interest rate decision - 22nd US SEC meeting on the topic of cryptocurrency securities
Trump ‘considering tough sanctions on Russia...ceasefire before it's too late’ US President Donald Trump announced on Twitter that he is ‘seriously considering massive banking sanctions against Russia, and possibly tariffs, in light of the fact that Russia is currently pounding Ukraine on the battlefield. This will continue until there is an immediate ceasefire and a final peace agreement. Both Russia and Ukraine must come to the negotiating table before it is too late.’
Pro-crypto US Senator Cynthia Loomis posted an image of Donald Trump's razor eye (a meme expressing support for Bitcoin) on her X account, writing, "We are becoming the center of BTC and digital assets. America is so ₿back," she wrote. "This is only the ₿eginning," he added.
Analysis "BTC has more than 50% chance of breaking all-time high by June"
BTC has more than a 50% chance of breaking its all-time high by the end of June, Cory Klipsten, CEO of crypto financial services firm SwanBitcoin, told Cointelegraph. "BTC's bullish momentum hasn't gone away. Neither has institutional demand. However, the market must first digest tariff concerns from the US and uncertainty over inflation. The impact of these noises on the market is short-term. The current sideways trend is unlikely to continue in the long term."