Crypto

Key Points

• Anthony Scaramucci's brief tenure in the White House reintroduced him to Bitcoin.
• Scaramucci was influenced by discussions in the White House about cryptocurrency, leading him to invest in and write about Bitcoin.
• He changed the ending of his book, "The Little Book of Bitcoin," after feedback from Michael Saylor, who suggested a higher conviction in Bitcoin investment.

Summary

Anthony Scaramucci, during his short 11-day stint as White House communications director under President Trump, was reintroduced to Bitcoin. This occurred during a meeting in the Roosevelt Room where cryptocurrency was discussed by Treasury Secretary Steve Mnuchin and Federal Reserve officials. Initially skeptical, Scaramucci's perspective shifted after this encounter, leading him to delve deeper into Bitcoin upon returning home. He founded SkyBridge Capital and became an advocate for Bitcoin, even writing "The Little Book of Bitcoin." The book's forward was penned by Michael Saylor, who also convinced Scaramucci to adjust the book's conclusion to reflect a stronger endorsement of Bitcoin as an investment. Scaramucci's journey with Bitcoin reflects a broader trend among investors, with many high-profile figures like Paul Tudor Jones and Ray Dalio also showing interest. Despite his brief political involvement, Scaramucci has no interest in running for office but hopes for a more collaborative political environment.

Key Points

• Zack Herbert, CEO of Foundation Devices, advocates for self-custody of Bitcoin to protect assets.
• Herbert compares Bitcoin storage to keeping physical gold in a home safe, highlighting the lack of FDIC insurance in Bitcoin.
• He warns of the risks associated with exchanges, referencing the collapse of Mt. Gox and FTX.
• Herbert emphasizes the need to lower barriers to self-custody to prevent concentration of Bitcoin supply.

Summary

Zack Herbert, CEO of Foundation Devices, discussed the importance of self-custody for Bitcoin investors during an interview at TheStreet Roundtable. He likened storing Bitcoin to securing physical gold at home, emphasizing that unlike traditional banking, there's no FDIC insurance for Bitcoin. Herbert highlighted the risks of using exchanges, pointing out that in the event of an exchange failure, like the infamous Mt. Gox collapse in 2013, investors could face long waits to recover their funds, if at all. He also mentioned the recent FTX debacle as a reminder of how exchanges can mismanage funds. Herbert stressed the irretrievable nature of stolen Bitcoin, with no mechanisms like chargebacks or fund freezing available. He believes that as Bitcoin's adoption increases, more individuals will turn to self-custody solutions to safeguard their investments. Foundation Devices, launched in 2020, aims to make this process secure and user-friendly through their open-source hardware wallets, like the Passport, to ensure users maintain full control over their digital assets.

Key Points

• Dogecoin surged after President Trump's re-election in 2024 but has since plummeted to $0.14, its lowest in recent months.
• Despite Elon Musk's involvement with the new Department of Government Efficiency (D.O.G.E.), Dogecoin has struggled to rally.
• The broader crypto market's slump and lack of utility for Dogecoin have contributed to its decline.
• Memecoins like Dogecoin and Shiba Inu retain a loyal community but face challenges in regaining past highs.

Summary

Dogecoin, the original memecoin, experienced a significant surge following President Donald Trump's re-election in 2024, driven by high investor expectations. However, the cryptocurrency has since seen a sharp decline, reaching a low of $0.14 before slightly rebounding to $0.16. Despite Elon Musk's association with the newly formed Department of Government Efficiency (D.O.G.E.), Dogecoin has not managed to recover, losing over a third of its value in the past month. The broader crypto market's downturn, coupled with Dogecoin's lack of real utility, has overshadowed its appeal. Analysts point out that while memecoins like Dogecoin and Shiba Inu maintain a dedicated following due to their viral appeal, the market's shift away from memecoins, especially after the peak of memecoin mania in 2025 when President Trump launched his own token, has left Dogecoin struggling to find new catalysts for growth. The inherent volatility of memecoins, lacking fundamental business models, makes them particularly vulnerable during market corrections.

Key Points

• The "Trump Bump" has turned into the "Trump Dump" with cryptocurrencies experiencing significant declines due to tariff declarations and recession fears.
• Bitcoin, Solana, and Ethereum are highlighted as potential buys despite the market downturn, with Bitcoin showing resilience compared to other cryptocurrencies.
• Solana is favored for its future growth prospects due to its efficiency and advancements in decentralized finance, while Ethereum's potential is tied to its established DeFi ecosystem and political support.

Summary

The article discusses the current downturn in the cryptocurrency market, attributing it to President Trump's tariff declarations and broader economic fears. Bitcoin, Solana, and Ethereum are analyzed for their investment potential amidst this downturn. Bitcoin, despite its volatility, has shown resilience and is suggested as a buy due to its institutional adoption and historical recovery patterns. Solana is highlighted for its technological advantages over Ethereum, positioning it as a forward-looking investment with significant growth potential in areas like DeFi. Ethereum, while lagging, still holds value due to its established ecosystem and political backing, though the author advises caution on adding to existing positions. The article warns against investing in meme coins, which have seen substantial drops, and suggests that the current market conditions might offer a lucrative opportunity for long-term investors in Bitcoin and Solana.

Key Points

• Meteora co-founder Ben Chow's X account was hacked, posting accusations against memecoin founders.
• The fraudulent post claimed Chow resigned due to the parasitic nature of the memecoin space.
• Meteora's official X account confirmed the hack and advised users to avoid clicking on any links.
• The post included alleged screenshots of conversations discussing maximum fund extraction from token launches.
• Meteora's CEO confirmed their X account was also compromised but has since been secured.

Summary

On March 11, 2025, Meteora co-founder Ben Chow's X account was reportedly hacked, leading to a controversial post accusing memecoin founders of unethical practices. The post, which was later deleted, claimed Chow resigned due to the parasitic nature of the memecoin space, specifically targeting DefiTuna founders Vlad Pozniakov and Dhirk for their involvement in token launches like MELANIA, MATES, and a Raydium launch. Meteora's official X account confirmed the hack, warning users against clicking on any links from the compromised accounts. The post included alleged screenshots of conversations discussing fund extraction from token launches, though their authenticity could not be verified. Meteora's CEO, Zen, also confirmed a brief compromise of their official account, which has since been secured. This incident adds to the ongoing controversy surrounding memecoins, particularly in light of recent political endorsements and market fluctuations involving tokens like LIBRA, endorsed by Argentine President Javier Milei.

Key Points

• Open data must transition to decentralized infrastructure to realize its full potential and reap benefits like affordable LLM training, accessible research data sharing, and unstoppable DApp hosting.
• Centralized data infrastructure violates Web3’s core of decentralization, leading to vulnerabilities in user applications.
• Decentralized infrastructure offers cost-effective solutions for AI training, research data sharing, and DApp hosting, reducing dependency on centralized platforms.

Summary

In his opinion piece, Michael O’Rourke, founder of Pocket Network and CEO of Grove, argues that the current centralized infrastructure for open data is at odds with the principles of Web3, which emphasizes decentralization. He highlights that open data, with a market value over $350 billion, could significantly benefit from a shift to decentralized systems. This transition would address several issues:

1. Affordable LLM Training: The cost of training large language models (LLMs) like DeepSeek R1 is significantly lower on decentralized platforms compared to centralized ones, reducing expenses from over $100 million to about $5.5 million.

2. Accessible Research Data Sharing: Decentralized infrastructure can facilitate trustless data sharing in research, preserving privacy and reducing the control of high-cost journals, thereby making scientific data more accessible.

3. Unstoppable DApp Hosting: Centralized hosting platforms like AWS or Google Cloud have single points of failure, whereas decentralized hosting ensures reliability and resistance to censorship, as seen in past incidents with platforms like Infura.

O’Rourke emphasizes that decentralized infrastructure not only aligns with the ethos of Web3 but also provides practical benefits in terms of cost, accessibility, and reliability, making it the future for hosting and managing open data.

Key Points

• Bitcoin high-entry buyers are selling off, causing a "moderate capitulation event" according to Glassnode.
• The short-term holder realized price has increased by 47% in five months, now at $91,362.
• Bitcoin could potentially find a floor at $70,000 if selling pressure continues.
• Market sentiment is negative with investors showing uncertainty and a decline in demand strength.

Summary

Recent market analysis by Glassnode indicates that Bitcoin investors who bought at the peak price of $109,000 in January are now selling off their holdings, leading to what's described as a "moderate capitulation event." This sell-off has been driven by a significant drop in Bitcoin's price, with short-term holders, those who have held Bitcoin for less than 155 days, experiencing an unrealized loss of about 10.6%. The average purchase price for these short-term holders has risen by 47% over the last five months, now standing at $91,362, while Bitcoin trades at around $81,930. Glassnode warns that if the selling continues, Bitcoin might find a temporary floor at around $70,000. This situation reflects a broader market sentiment of uncertainty and reduced demand, with investors showing signs of panic and loss realization. Despite a recent 7.5% spike in Bitcoin's price, the overall market mood remains cautious, with potential for further price drops if current trends persist.

Key Points

• The US House of Representatives voted to repeal the IRS DeFi broker rule, which would have required DeFi platforms to report to the IRS.
• The vote was 292 in favor and 132 against, with bipartisan support for the repeal.
• The rule aimed to expand IRS reporting requirements to include crypto transactions on DeFi platforms.
• Opponents of the rule argue it invades privacy, hinders industry development, and could push digital asset innovation overseas.
• The resolution now needs another Senate vote before potentially being signed by President Donald Trump.

Summary

The U.S. House of Representatives has voted to repeal a proposed IRS rule that would have imposed reporting requirements on decentralized finance (DeFi) platforms. The vote, which saw 292 in favor and 132 against, was supported by both Republicans and Democrats, with 76 Democrats joining the Republican-led effort. This follows a similar vote in the Senate. The rule would have required DeFi protocols to report gross proceeds from crypto sales to the IRS, raising concerns about privacy and the potential stifling of innovation in the U.S. Critics like Representative Mike Carey argued that the rule would invade privacy and hinder the growth of the DeFi sector. Conversely, opponents like Representative Lloyd Doggett warned that repealing the rule could facilitate tax evasion and money laundering. The resolution now awaits another Senate vote before potentially being signed into law by President Donald Trump, who has indicated his support for the repeal.

Key Points

• THORChain faces criticism for being a potential money laundering tool after North Korean hackers used it to convert stolen funds from Bybit.
• The protocol's governance model is under scrutiny, with internal conflicts and developer resignations highlighting governance cracks.
• Despite claims of decentralization, THORChain has shown centralized tendencies by selectively intervening in its operations.
• The protocol collected significant fees from the hackers' transactions, raising questions about its neutrality and financial motivations.
• Regulatory risks are increasing, with potential enforcement actions looming if THORChain continues to be a conduit for illicit activities.

Summary

THORChain, a decentralized finance (DeFi) protocol, is at a critical juncture as it grapples with the implications of its use by North Korean hackers to launder funds from a $1.4 billion Bybit hack. The protocol, which facilitates cross-chain token swaps, has been criticized for potentially enabling money laundering, despite its decentralized nature. The controversy has led to internal governance issues, with some validators attempting to block the hackers' activities, only to be overruled, highlighting a selective approach to decentralization. Critics argue that THORChain's inaction might be driven by financial gain, as it earned significant fees from these transactions. The situation has sparked a debate on whether DeFi protocols can remain neutral or if they must evolve to prevent regulatory crackdowns. While THORChain has not faced direct enforcement yet, the precedent set by actions against other privacy tools like Tornado Cash suggests that regulatory scrutiny could intensify, potentially forcing THORChain to implement compliance measures or face severe consequences.

Key Points

• Cboe BZX Exchange Inc. is seeking approval from the SEC to allow staking on several Ether-based ETFs, including Fidelity’s Ethereum Fund and 21Shares Core Ethereum ETF.
• Bitwise is also exploring the possibility of staking on NYSE, following the trend set by other exchanges.
• Staking could potentially increase investor returns and enhance network security, as seen in Europe.
• The movement is supported by the Trump administration's pro-crypto stance, with actions like appointing a crypto czar and establishing a Bitcoin strategic reserve.

Summary

Cboe BZX Exchange Inc. has filed with the SEC to allow staking on several Ether-based ETFs, aiming to enable investors to earn passive income from their crypto holdings. This follows similar requests by NYSE Arca Inc. for Grayscale Investments' Ethereum products. The push for staking, which involves pledging crypto to validate blockchain transactions and earn additional tokens, is gaining momentum, supported by the Trump administration's favorable policies towards digital assets. The potential approval of staking could significantly benefit the $7 billion Ether ETF market by attracting new investments and enhancing the appeal of these funds. Industry experts like Matt Hougan from Bitwise and Vivek Raman from Etherealize see staking as a way to boost investor returns and network security, potentially setting a precedent for other altcoin-based ETFs. The SEC's current stance under its interim chief suggests a more accommodating approach to crypto-related financial products compared to previous leadership.

Key Points

• The U.S. government plans to buy 1 million Bitcoin, roughly 5% of the total supply, through the Bitcoin Act.
• The bill proposes a strategic reserve to enhance national security and economic stability, using non-taxpayer funds.
• Crypto influencer WendyO expresses concerns about the financial implications and risks, citing past government sales of Bitcoin.
• The Act includes a proof-of-reserve requirement for transparency and explicitly protects private Bitcoin ownership.

Summary

The U.S. government is set to make a significant move into the cryptocurrency market with the introduction of the Bitcoin Act by Congressman Nick Begich. This legislation aims to establish a strategic Bitcoin reserve, acquiring 1 million BTC over five years without using taxpayer money. The funds for this acquisition would come from Federal Reserve remittances, gold revaluations, and the Exchange Stabilization Fund. The initiative is seen as a step to bolster national security and economic stability, positioning the U.S. as a leader in the digital asset space. However, crypto influencer WendyO has voiced concerns over the financial prudence of this move, especially given the current economic climate and past losses from government-held Bitcoin sales. Despite these concerns, the Act includes measures for transparency through a proof-of-reserve requirement, allowing public tracking of government-held Bitcoin. Additionally, the bill ensures that private ownership of Bitcoin remains protected, alleviating fears of government overreach into personal cryptocurrency holdings. This move could potentially trigger a global race for Bitcoin accumulation, as other countries might follow suit, influenced by the U.S. strategy.

Key Points

• Mesh, a crypto payments firm, raised $82 million in a Series B funding round led by Paradigm.
• The funding will be used to expand Mesh's stablecoin-based payments settlement network globally.
• Most of the capital was settled in PayPal's PYUSD stablecoin.
• Mesh's platform allows users to pay with various cryptocurrencies while merchants can settle in stablecoins like USDC, PYUSD, and RLUSD.

Summary

Mesh, a company specializing in crypto payments, has successfully raised $82 million in a Series B funding round to enhance its global stablecoin-based payment network. The round was spearheaded by Paradigm, with participation from several other notable investors. A significant portion of this funding was transacted using PayPal's PYUSD stablecoin, highlighting the growing acceptance of stablecoins in financial transactions. Mesh's platform facilitates payments in cryptocurrencies like Bitcoin, Ethereum, and Solana, allowing merchants to receive payments in stablecoins of their choice, which provides stability and reduces volatility risks associated with traditional cryptocurrencies. CEO Bam Azizi emphasized the increasing regulatory clarity and the booming stablecoin market as key drivers for this expansion. Stablecoins, pegged mostly to the U.S. dollar, have become a $200 billion asset class, serving as crucial infrastructure for digital asset trading and gaining popularity for payments, savings, and remittances, particularly in developing economies. The investment in Mesh reflects a broader trend where venture capital firms are betting on the potential of stablecoins to revolutionize global payment systems, as evidenced by Stripe's acquisition of Bridge for $1.1 billion last year.

Key Points

• ATME, a digital assets exchange, has completed its first tokenized real-world asset issuance with gold-backed tokens.
• Each token represents one kilogram of gold, available to accredited investors for trading or redemption.
• The initiative aims to modernize gold ownership by leveraging blockchain for efficiency and security.
• ATME plans to expand its offerings to include other asset classes, integrating blockchain into traditional finance.
• The tokenized gold market is worth around $1.2 billion, with significant activity due to recent record highs in gold prices.

Summary

ATME, a digital assets exchange licensed by the Central Bank of Bahrain, has launched its first tokenized real-world asset (RWA) issuance, focusing on gold-backed tokens. These tokens, each representing one kilogram of gold, are available to accredited investors who can trade them on ATME's secondary market or redeem them for physical gold. This initiative seeks to modernize gold ownership by addressing storage and transportation issues through blockchain technology, enhancing efficiency and security. Alex Lola, CEO of ATME, highlighted the integration of gold's timeless value with modern blockchain technology to provide new investment avenues. ATME plans to broaden its offerings to other asset classes, aligning with the growing trend of tokenizing real-world assets in financial markets. The tokenized gold market, currently valued at around $1.2 billion, has seen increased activity due to recent record highs in gold prices, driven by a weaker dollar, trade war concerns, and geopolitical instability.

Key Points

• Bitcoin's price volatility has been influenced by the Trump administration's latest tariffs, with BlackRock CEO Larry Fink warning of sustained inflation.
• The crypto market has seen a significant reaction to political chaos and global tensions, with investors selling off due to macroeconomic uncertainty.
• Wall Street analysts are warning of potential economic downturns, with Morgan Stanley and Goldman Sachs adjusting their forecasts due to the ongoing trade war.

Summary

Bitcoin's price has experienced significant volatility, recently dropping to a four-month low before a slight recovery, influenced by the Trump administration's new tariffs. BlackRock CEO Larry Fink has highlighted the potential for sustained inflation due to rising trade tensions and nationalism. The crypto market has reacted sharply to these developments, with investors selling off assets amid fears of political instability and economic disruption. Wall Street firms like Morgan Stanley and Goldman Sachs have issued warnings about potential economic downturns, adjusting their forecasts to reflect the increased risk of a recession due to the ongoing trade war. The uncertainty has led to a drop in the CoinMarketCap’s Fear and Greed Index to "extreme greed," indicating heightened market anxiety. This situation underscores the broader economic sentiment of fear and the potential for a recession as warned by financial experts and crypto market observers.

Key Points

• Michael Saylor, founder of Strategy (Nasdaq: MSTR), suggested that the US government should invest in Bitcoin, likening it to historical land purchases.
• Strategy is the largest corporate holder of Bitcoin, with a current holding of 499,096 BTC purchased for $33 billion.
• The company announced a $21 billion ATM offering to acquire more Bitcoin, causing a 10% drop in MSTR stock, which later recovered by 5%.
• Despite recent volatility, Bitcoin's value has shown significant growth, with a hypothetical $100 investment from August 2020 now worth $707.

Summary

Michael Saylor, the founder and chairman of Strategy (formerly MicroStrategy), recently advocated for the US government to invest in Bitcoin, drawing parallels to the country's historical land acquisitions. He highlighted that the US had bought land for $40 million in the past, which now holds a value of $23 trillion. Saylor, a long-time Bitcoin advocate, emphasized the potential of Bitcoin as a strategic asset, especially with President Trump's Executive Order on the Strategic Bitcoin Reserve. Strategy itself has been aggressively acquiring Bitcoin, holding 499,096 BTC at an average price of $66,423 per token. The company's recent $21 billion ATM offering to buy more Bitcoin led to a temporary dip in its stock price, but it has since shown signs of recovery. Despite Bitcoin's price volatility, Saylor's faith in the cryptocurrency remains unshaken, with Strategy leading in corporate Bitcoin adoption. An investment in Bitcoin at the time of MicroStrategy's first purchase would have yielded a 607% return, underscoring the cryptocurrency's potential for growth.

Key Points

• Bitcoin's price drop to $88,000 is not seen as a sell-off event but an opportunity for accumulation by smart investors.
• Institutional interest in Bitcoin remains high, with major entities and governments quietly acquiring the cryptocurrency.
• Market sentiment is still bullish, with regulatory clarity and pro-Bitcoin stances from the U.S. administration fueling optimism.

Summary

Bitcoin's recent price drop to $88,000 has raised concerns among some investors, but experts at TheStreet Roundtable argue that this is not a sign of a market downturn. Kelly Kellam from BitLab Academy highlighted that despite retail investors' tendency to buy high and sell low, the current market setup is historically bullish, driven by high institutional interest. The market's optimism was initially fueled by President Trump's pro-crypto stance, but impatience for immediate regulatory clarity led to some selling. However, Tom Ngo from Metis pointed out that behind the scenes, large entities and governments are rapidly acquiring Bitcoin, suggesting that the market's fundamentals remain strong. Host Rob Nelson likened Bitcoin's volatility to personal relationships, suggesting that one should look beyond short-term fluctuations. Overall, the consensus among experts is that this dip is a buying opportunity, with long-term fundamentals and growing institutional interest indicating a potentially short-lived correction.