Yellow Media

Brazil enacted Law No. 15,358, authorizing courts to freeze, seize, and liquidate cryptocurrencies linked to criminal organizations during investigations, even before conviction.

Proceeds from asset sales will fund police equipment, training, intelligence work, and special operations through federal and state public security funds.

President Luiz Inácio Lula da Silva signed the legislation, known as the Anti-Gang Law or Raul Jungmann Law, targeting organized crime groups including the PCC and Red Command.

Turkey's parliament withdrew cryptocurrency taxation provisions from a comprehensive legislative package following last-minute negotiations between government and opposition lawmakers.

The removed articles would have imposed a 0.03% transaction tax on crypto trades through regulated service providers and withheld 10% on capital gains quarterly.

Deputy Speaker Celal Adan presided over the session where the agreement to remove crypto tax measures was reached before formal debate on the omnibus bill, which also covers defense spending and broader economic regulations.

Evolution From Aggressive to Removed

The original proposal introduced March 2 included a 10% withholding tax on crypto earnings from platforms regulated by Turkey's Capital Markets Board, collected quarterly regardless of whether users sold positions.

The bill also proposed a 0.03% transaction tax on all crypto sales and transfers through service providers.

Parliament's Planning and Budget Committee approved a revised version March 4-5 that eliminated the 10% gains tax and exempted crypto transactions from value-added tax. Only the 0.03% transaction levy remained in the committee-approved text.

Even that scaled-back provision was removed from the final omnibus bill after opposition parties and industry stakeholders raised concerns about capital flight to offshore platforms.

Read also: Why Canada Banned Crypto Donations That Were Never Used

Capital Flight Concerns, Reintroduction Possible

Turkish analyst Ussal Sahbaz noted that withholding taxes on crypto earnings "would likely push users toward offshore platforms where taxation is declaration-based." Similar tax structures in India and South Korea have created unintended capital outflows, according to industry observers.

Government officials indicated the crypto tax measures may return as separate legislation. Turkey has approximately 24.8 million cryptocurrency users but maintains an April 2021 ban on using crypto assets for payments, which the central bank shows no indication of lifting.

The omnibus bill retains other fiscal measures, including a 20% special consumption tax on diamonds and precious stones.

Read next: BNP Paribas Offers Bitcoin, Ethereum ETNs To French Retail Clients

Canada introduced Bill C-25 prohibiting cryptocurrency donations to political parties, candidates, and third-party advertisers across the federal election system.

The ban addresses what government officials describe as a transparency concern, though no cryptocurrency political contributions have been publicly reported since Canada permitted them in 2019.

The Strong and Free Elections Act groups cryptocurrency with money orders and prepaid payment products as funding methods "difficult to trace."

Maximum penalties reach twice the contribution value, plus $100,000 for corporate violations.

Shift From Regulation to Prohibition

Canada's Chief Electoral Officer initially recommended tighter regulation following the 2022 federal election.

By November 2024, the office reversed course and called for an outright ban, citing cryptocurrency's pseudo-anonymity and "fundamentally difficult" contributor identification.

The administrative framework established in 2019 classified cryptocurrency donations as non-monetary contributions similar to property. Acceptable contributions required public blockchain verification, excluding privacy coins like Monero (XMR) and ZCash (ZEC), and mandated liquidation to fiat currency before spending.

Recipients have 30 days to return, destroy, or convert prohibited contributions received after the ban takes effect, with proceeds forwarded to the Receiver General.

Read also: GameStop's $368M Bitcoin Bet

Second Legislative Attempt, International Context

Bill C-25 reintroduces provisions from Bill C-65, which died when Parliament prorogued in January 2025. The legislation is currently at first reading in the House of Commons.

The United Kingdom implemented a cryptocurrency donation moratorium in March 2026, citing foreign interference concerns. The U.S. Federal Election Commission has permitted cryptocurrency political contributions since 2014 and provides disclosure guidance for campaigns receiving digital assets.

Neither major Canadian political party accepted cryptocurrency donations in the 2021 federal election, and no crypto contributions have been publicly disclosed for campaigns operating under the 2019 framework.

Read next: BNP Paribas Offers Bitcoin, Ethereum ETNs To French Retail Clients

BNP Paribas announced it will offer six exchange-traded notes indexed to Bitcoin (BTC) and Ethereum (ETH) to French retail clients starting March 30.

The products provide indirect exposure to cryptocurrency price movements through unsecured debt instruments issued by third-party asset managers.

France's largest bank described the ETNs as compliant with MiFID II investor protection rules.

The products will be available through securities accounts to individual clients, entrepreneurs, private banking clients, and Hello bank! customers in France.

Debt Instruments, Not Direct Crypto Holdings

ETNs are unsecured debt obligations that track underlying asset performance without requiring direct cryptocurrency ownership. Investors face counterparty risk to the ETN issuer if the issuing entity defaults.

BNP Paribas did not disclose which asset managers will issue the six products, stating only that it selected issuers "for their solidity and risk management systems."

The bank also did not specify fee structures or which specific Bitcoin and Ethereum indices the ETNs will track.

The products will eventually be available to BNP Paribas Wealth Management clients internationally, though the bank provided no timeline for expansion beyond France.

Read also: Nodus Bank CEO Pleads Guilty To $24.9M Fraud, Venezuela Sanctions Evasion

Part of Broader European Banking Crypto Push

BNP Paribas tokenized a money market fund on Ethereum's public blockchain in February 2026 using its AssetFoundry platform.

The bank also joined the Qivalis consortium developing a euro-backed stablecoin with 12 European banks, scheduled to launch in the second half of 2026.

In March, BNP Paribas received authorization from France's REGAFI registry as an issuer of asset-referenced tokens and electronic money tokens under the European Union's Markets in Crypto-Assets (MiCA) regulation.

The ETN launch follows similar products introduced by Warsaw Stock Exchange in February, which offered ETNs linked to Bitcoin, Ethereum, Solana (SOL), and XRP.

Read next: GameStop's $368M Bitcoin Bet

GameStop disclosed in its annual SEC filing this week that it pledged 4,709 of its 4,710 Bitcoin (BTC) to Coinbase Credit as collateral for an over-the-counter covered call strategy - not an outright sale.

The move reclassified the holdings from a directly held intangible asset to a $368.3 million digital assets receivable on the balance sheet.

The company recorded a $131.6 million net loss on its cryptocurrency holdings for fiscal year 2025.

The disclosure resolves months of market speculation.

On-chain analysts had flagged the January transfer of nearly the entire BTC position to Coinbase Prime as a potential precursor to liquidation.

How the Covered Call Trade Works

Under the collateral agreement, GameStop sold short-dated call options against 99.98% of its Bitcoin position, with strike prices between $105,000 and $110,000 per coin and maturities running through March 27, 2026.

Bitcoin was trading near $67,000 on Friday - well below those levels - meaning the options are set to expire worthless, allowing the company to retain the premiums collected.

The 10-K records a $2.3 million unrealized gain and a $700,000 liability tied to the open positions.

Because Coinbase holds the right to "rehypothecate, commingle, or unilaterally sell" the pledged coins, GameStop was required under U.S. GAAP to derecognize the assets.

It now carries a receivable representing the contractual right to reclaim equivalent Bitcoin later.

The company said its "economic exposure is consistent with direct ownership of the underlying Bitcoin," according to the 10-K.

Read also: Nodus Bank CEO Pleads Guilty To $24.9M Fraud, Venezuela Sanctions Evasion

Balance Sheet Impact and CEO Signals

The accounting treatment dropped GameStop from 21st to 190th place among corporate Bitcoin holders, per Bitcoin Treasuries data.

The $131.6 million loss breaks down as a $71.8 million realized loss upon derecognition and a $59.7 million unrealized loss on the receivable.

The company originally spent approximately $500 million on its BTC position in May 2025, funded by a $1.5 billion convertible notes offering completed the prior month.

CEO Ryan Cohen has not ruled out an eventual exit. In February, Cohen told CNBC the company's acquisition ambitions were "way more compelling than Bitcoin."

The 10-K, however, states that GameStop intends to use proceeds from its 2030 convertible notes partly for future Bitcoin purchases.

Read next: Warren Demands Answers On Bitmain Probe Tied To Trump Family

Tomás Niembro Concha, former CEO of Nodus International Bank, pleaded guilty March 19 to conspiring to siphon at least $24.9 million from the Puerto Rico-based institution and evading U.S. sanctions against Venezuela.

The 64-year-old Miami resident faces up to 40 years in prison on two counts and agreed to forfeit at least $16.9 million.

Niembro and board chairman Juan Ramirez concealed conflicts of interest from other board members, executives, and the bank's regulator while orchestrating fraudulent transactions that ultimately led to Nodus Bank's liquidation in March 2023.

Ramirez previously pleaded guilty and agreed to forfeit $13.6 million.

Sham Investments Funneled Millions to Executives

Between 2017 and 2023, Niembro and Ramirez caused Nodus Bank to invest $11 million in a Miami-based lender, then used that vehicle to loan funds to themselves for personal benefit.

From January 2018 to September 2021, the duo fraudulently induced the bank's board to purchase 47 promissory notes totaling $25.3 million from Nodus Finance, a Miami company they jointly owned.

After Puerto Rico's banking regulator notified Nodus it would be liquidated in March 2023, the executives caused the bank to accept a loan portfolio from Nodus Finance to pay down debt.

Read also: Warren Demands Answers On Bitmain Probe Tied To Trump Family

Sanctions Scheme Involved Venezuelan Oil Company

Between 2021 and 2023, Niembro conspired to conduct prohibited transactions with an individual designated as a Specially Designated National by OFAC for supporting Venezuela's state-owned oil company, Petróleos de Venezuela (PDVSA).

To satisfy a $2.5 million loan, Niembro and the SDN obtained OFAC authorization to foreclose on the individual's Southampton, New York home, then reached a separate agreement to sell it back for $4 million through a front company - a transaction strictly prohibited by sanctions.

Niembro pleaded guilty to conspiracy to commit wire fraud and conspiracy to violate the International Emergency Economic Powers Act. Each charge carries a maximum 20-year prison sentence. Sentencing is scheduled for June 8, 2026.

Read next: Morgan Stanley Files Bitcoin ETF With 0.14% Fee

Senator Elizabeth Warren sent a letter to Commerce Secretary Howard Lutnick seeking documents about Bitmain Technologies Ltd., a Beijing-based Bitcoin (BTC) mining hardware manufacturer under federal investigation for potential national security risks.

The inquiry follows a $314 million Bitmain equipment purchase by American Bitcoin, a mining company backed by President Donald Trump's sons.

Warren requested information about communications between Bitmain, the Trump family, and the Commerce Department, as well as actions taken to "insulate" national security decisions from firms with Trump business ties.

The letter references Operation Red Sunset, a Department of Homeland Security investigation examining whether Bitmain machines could be remotely controlled for espionage or to sabotage the U.S. power grid.

Federal Investigation Examines Remote Control Risk

Bloomberg reported in November 2025 that Operation Red Sunset began under the Biden administration, with investigators testing Bitmain equipment at U.S. ports.

A Senate Intelligence Committee report in July 2025 concluded that Bitmain devices "can be forced by the PRC to turn over data" under China's national security law.

A May 2024 federal review ordered divestment of a mining facility near Wyoming's Francis E. Warren Air Force Base, citing "significant national security concerns" about foreign-sourced equipment. The current status of Operation Red Sunset remains unclear.

Read also: The Hidden Signals Flashing Before Every Bitcoin Crash

Trump Family Mining Venture Uses Bitmain Equipment

American Bitcoin executed a contract in August 2025 to acquire 16,000 Bitmain mining rigs for $314 million, paid in pledged Bitcoin rather than cash, according to SEC filings. The company plans to operate 76,000 machines across the U.S. and Canada.

A spokesman for American Bitcoin told Bloomberg the company conducted security tests and found no vulnerabilities allowing remote access. Bitmain stated it "strictly complies with U.S. laws" and has no knowledge of Operation Red Sunset.

The Commerce Department did not immediately respond to requests for comment. Democrats hold minority status in the Senate and cannot compel a response.

Read next: Altcoin Pumps Hit 140%+ But Altcoin Season Index Stays Below 35

Morgan Stanley filed an amended S-1 registration statement March 27 proposing a 0.14% annual fee for its spot Bitcoin (BTC) ETF, undercutting all existing U.S. competitors.

The fee is 11 basis points below BlackRock's iShares Bitcoin Trust, which charges 0.25% and currently holds $51.49 billion in net assets.

The filing gives Morgan Stanley the lowest fee structure in the $84 billion spot Bitcoin ETF market.

Bloomberg ETF analysts project an early April 2026 launch for the Morgan Stanley Bitcoin Trust (MSBT), pending SEC approval.

Distribution Network Provides Market Access

Morgan Stanley's wealth management division oversees approximately $6.2 trillion in client assets across a network of 16,000 financial advisors. The bank previously allowed advisors to offer clients access to third-party Bitcoin ETFs.

Bloomberg analyst Eric Balchunas noted that the low fee "means that none of Morgan Stanley's roughly 16,000 financial advisors would feel conflicted in recommending the product to its clients." The advisors manage assets across traditional brokerage accounts, individual retirement accounts, and 401(k) plans.

Coinbase will serve as prime broker and custodian for Bitcoin holdings, while BNY Mellon will handle cash and administrative functions. The New York Stock Exchange issued an official listing for MSBT on March 24, describing the launch as "imminent."

Read also: Cardano's Midnight Lands £250M UK Bank Deal As ADA Trades 91% Below Peak

Part of Broader Cryptocurrency Product Strategy

Morgan Stanley filed its initial spot Bitcoin ETF application on January 6, 2026, alongside a Solana ETF filing. The bank subsequently filed for a staked Ether ETF later that month.

On February 18, Morgan Stanley applied for a national trust banking charter to provide cryptocurrency custody, trading, and staking services.

The bank appointed Amy Oldenburg, a longtime executive, to lead its digital asset strategy in January.

U.S. spot Bitcoin ETFs have recorded $55.93 billion in cumulative net inflows since launching in January 2024. The funds collectively hold approximately 7% of total global Bitcoin supply.

Read next: Ripple Deploys AI Red Team To XRP Ledger

Monument Bank, a UK lender regulated by the Bank of England, announced it will tokenize up to £250 million ($335 million) in retail deposits on Midnight (NIGHT), Cardano (ADA) privacy-focused sidechain.

The move is the first time a UK-regulated bank has tokenized retail deposits on a public blockchain while maintaining deposit insurance protection.

The deposits will remain interest-bearing, fully backed in sterling, and covered under the UK's Financial Services Compensation Scheme.

Monument plans a three-phase rollout, starting with tokenized deposits, then adding tokenized investment products, and finally introducing blockchain-based lending against holdings.

First Regulated Bank Deployment on Public Chain

Monument, which manages approximately £7 billion in deposits across 100,000 customers, targets mass-affluent clients with £50,000 to £5 million in investable assets. Transaction data will remain visible only to the bank and customers through Midnight's zero-knowledge proof infrastructure.

Charles Hoskinson described the deal as "one of the largest we've ever done," projecting it could bring "hundreds of millions to billions" in total value locked to Midnight.

The sidechain's mainnet is scheduled to launch by the end of March 2026.

Monument's affiliate, Monument Technology, plans to extend the tokenized deposit infrastructure through its Banking-as-a-Service platform, potentially allowing other institutions to adopt the model.

Read also: Altcoin Pumps Hit 140%+ But Altcoin Season Index Stays Below 35

ADA Down 91% From 2021 Peak

Cardano's ADA token traded around $0.25 on March 28, down more than 91% from its September 2021 all-time high near $3.10.

DeFi protocols on Cardano hold $146 million in total value locked, compared to Ethereum's $76 billion and Solana's $8.7 billion.

The institutional banking adoption comes as Cardano faces persistent technical weakness. The token remains well below its November 2025 highs near $0.40 despite the Monument announcement.

Midnight operates as a partner chain to Cardano, using the base layer for security while enabling privacy-preserving applications through zero-knowledge technology.

Read next: Ripple Deploys AI Red Team To XRP Ledger

Ripple (XRP) announced an AI-driven security program for the XRP Ledger, with a dedicated red team already identifying more than 10 bugs in the blockchain's codebase.

The next XRPL software release will focus entirely on bug fixes and improvements without introducing new features.

Ayo Akinyele, Head of Engineering at RippleX, outlined the initiative in a blog post detailing how machine learning tools will be integrated across the protocol's entire development lifecycle.

The strategy includes adversarial code scanning on every pull request, automated stress testing, and continuous threat modeling.

AI Team Targets Legacy Code Issues

The AI-assisted red team uses fuzzing and automated adversarial testing to simulate attacker behavior, focusing on how features interact where legacy code meets new functionality.

Low-severity bugs have been disclosed publicly, with the remainder being prioritized for fixes.

XRPL has operated continuously since 2012, processing over 100 million ledgers and facilitating more than 3 billion transactions.

The security push comes as Ripple expands institutional use cases, including a pilot under Singapore's BLOOM initiative and adoption of its RLUSD stablecoin, which surpassed $1 billion in market capitalization within its first year.

Read also: Bitcoin ETFs See $296M Weekly Outflows

Stricter Amendment Standards

Ripple is raising requirements for protocol amendments, with multiple independent security audits now required for significant changes.

The company is expanding collaboration with XRPL Commons, the XRPL Foundation, and independent researchers.

The six-pillar strategy also includes modernizing the XRPL codebase to address structural issues like limited type safety and inconsistent feature interactions. Ripple plans to publish security criteria for new amendments in collaboration with the XRPL Foundation in coming weeks.

XRP traded at $1.34 on March 26, down 5% on the day and at its lowest price in more than two weeks, according to CoinGecko. The token remains 63% below its July 2025 all-time high of $3.65.

Read next: Altcoin Pumps Hit 140%+ But Altcoin Season Index Stays Below 35

Spot Bitcoin (BTC) exchange-traded funds recorded $296.18 million in net outflows for the week ending March 28, reversing a four-week period that brought $2.2 billion in cumulative inflows.

The outflows included a $225.62 million withdrawal on Friday alone, the largest single-day redemption since March 3.

BlackRock's iShares Bitcoin Trust led Friday's exodus with $201.67 million in outflows, while Bitwise and Ark Invest funds shed $18.60 million and $5.35 million respectively.

Total net assets across all spot Bitcoin ETFs dropped to $84.77 billion from over $90 billion a week earlier.

Liquidity Conditions Drive Range-Bound Trading

Bitcoin traded between $65,000 and $72,000 throughout the week as capital avoided directional bets. Weekly trading volume fell to $14.26 billion from $25.87 billion earlier in March, reflecting reduced institutional activity.

A Bitunix analyst told Cointelegraph that Bitcoin is "behaving less like a breakout asset and more like a reflection of liquidity conditions." The analyst noted that capital is neither exiting nor taking directional risk, with price action likely to remain volatile within established ranges until macro conditions align.

Cumulative net inflows into spot Bitcoin ETFs stand at $55.93 billion despite the weekly reversal.

March delivered $2.5 billion in gross inflows and $1.6 billion in net inflows after outflows on March 5-6 and March 18-20, according to Bloomberg analyst Eric Balchunas.

Read also: The Hidden Signals Flashing Before Every Bitcoin Crash

Ethereum ETFs Extend Losses

Spot Ethereum (ETH) ETFs posted $206.58 million in weekly outflows, their second consecutive week of losses.

Thursday's $92.54 million outflow was the largest single-day withdrawal, followed by $48.54 million on Friday.

The Ethereum products recorded consistent daily outflows every trading session since March 18, reversing the modest inflow streak from earlier in the month.

Year-to-date outflows for 2026 across all Bitcoin ETFs fell to approximately $210 million after March's recovery, down from $1.81 billion in January-February combined.

Read next: Altcoin Pumps Hit 140%+ But Altcoin Season Index Stays Below 35

Micro-cap tokens including NKN, GIZA, and XTER surged between 54% and 144% on March 27 as retail traders rotated into low-liquidity altcoins.

Trading volume in NKN alone jumped 637% to $24.1 million despite the token ranking #812 by market capitalization at $13.9 million.

The pumps occurred against a Bitcoin (BTC)-dominant market, with the CMC Altcoin Season Index holding at 34 out of 100- well below the 75 threshold that defines altcoin season.

Bitcoin dominance remains at 58%, and only 21% of top altcoins have outperformed Bitcoin over the past three months, according to Capriole Investments.

Volume Spike Drives NKN Rally

NKN jumped 144.71% in 24 hours to $0.017356, extending a seven-day gain to 229.50%.

The decentralized networking token's trading volume surged 1,711% from typical levels, hitting $24.1 million across exchanges including Coinbase and KuCoin.

The token's RSI reached 68.34, approaching overbought territory.

Analysts at CoinMarketCap attributed the move to "sector rotation into low-cap altcoins" rather than fundamental developments, noting that similar micro-cap tokens posted triple-digit gains during the same period.

Read also: Polymarket Gets $1.6B From NYSE Parent As Kalshi Hits $22B Valuation

Altcoin Season Remains Absent

Despite isolated pumps, broader market structure shows continued weakness. Only 8% of all altcoins are trading above their 50-day moving averages, according to Crypto Market Breadth indicators.

Total altcoin market capitalization excluding Bitcoin fell 32% from its October 2025 peak of $1.77 trillion to $1.19 trillion in December.

Capital dilution has fragmented the market, with tracked tokens increasing from 5.8 million to 29.2 million over the past year, according to CryptoRank.

The expansion has limited concentrated buying power needed for sustained sector-wide rallies. Bitcoin dominance held above 56% throughout March after peaking at 65% in June 2025.

Memecoins and perpetual futures contracts have diverted speculative capital that previously drove altcoin rallies, creating competition for retail attention without requiring direct token ownership.

Read next: Bitcoin Drops To $66K As Peter Brandt Flags Rising Wedge Sell Signal

Intercontinental Exchange completed a $600 million investment in Polymarket on March 27, bringing its total stake to $1.6 billion and fulfilling the commitment made in October 2025.

The New York Stock Exchange parent company also plans to purchase up to $40 million in securities from existing holders.

The transaction values Polymarket at roughly $9 billion, trailing rival Kalshi's $22 billion valuation following its $1 billion fundraise earlier this month.

ICE's investment gives it global distribution rights to Polymarket's event-driven data, which the exchange operator intends to package for institutional clients.

Data Play Drives Investment Rationale

ICE's stake is structured around data monetization rather than pure venture returns.

The company launched Polymarket Signals and Sentiment in February 2026, converting real-time prediction market pricing into structured feeds for institutional traders.

ICE Chair Jeffrey Sprecher framed the investment as a "new layer of financial intelligence" rather than a traditional equity play.

Polymarket processed $23.2 billion in trading volume during February 2026, up over 1,200% year-over-year.

The platform plans to implement taker fees across all categories on March 30, potentially generating approximately $300 million in annualized revenue based on recent 30-day volume.

Read also: Why Capital Is Rotating From Layer 1s Into Bittensor's AI Network

Regulatory Headwinds Accelerate

The investment comes amid intensifying scrutiny from lawmakers. Massachusetts Rep. Seth Moulton banned his staff from trading on prediction markets this week, citing insider trading concerns.

Bipartisan lawmakers introduced the PREDICT Act in early March to extend similar restrictions to Congress members, senior officials, and their families.

California Governor Gavin Newsom signed an executive order on March 27 prohibiting state officials from using insider information on prediction markets.

Senators have separately proposed bans on sports contracts and war-related markets following controversial bets on U.S. military strikes and political events.

Kalshi's $22 billion valuation - achieved less than a year after its $2 billion mark in June 2025 - came after winning a CFTC court battle that cleared the way for election contracts.

Read also: Bitcoin Drops To $66K As Peter Brandt Flags Rising Wedge Sell Signal

Cathie Wood's Ark Invest sold approximately $84 million in technology holdings on March 26, with Meta Platforms and Nvidia accounting for the bulk of the transactions.

The firm also reduced its exposure to Bitcoin (BTC) by offloading $11.2 million worth of shares in its own spot ETF.

Ark liquidated 76,622 Meta shares across three exchange-traded funds for between $42 million and $45.6 million, according to mandatory daily trade disclosures.

The sale came as Meta's stock dropped nearly 8% after a Los Angeles jury found the company liable for contributing to youth social media addiction.

Tech Holdings Pared Across Multiple Names

Ark offloaded 155,441 Nvidia shares valued at approximately $27.8 million.

The chipmaker has faced pressure from supply chain constraints, with insiders flagging shortages extending beyond semiconductors to components including lasers and circuit boards.

Additional sales included 38,245 Advanced Micro Devices shares ($8.4 million), 15,696 Taiwan Semiconductor Manufacturing shares ($5.1 million), and 8,648 Broadcom shares ($2.7 million).

Taiwan Semiconductor's production capacity remains fully booked through 2026.

Read also: Bitcoin Drops To $66K As Peter Brandt Flags Rising Wedge Sell Signal

Bitcoin ETF Position Reduced to $100M

Ark sold 495,000 shares of its ARK 21Shares Bitcoin ETF (ARKB) worth about $11.2 million across two funds.

The firm also divested $6.7 million in crypto exchange Bullish and approximately $5 million in Block, which operates Bitcoin-focused products.

Following the sales, Ark holds approximately $100 million in ARKB, making it the 35th largest position among the firm's 96 actively managed holdings.

Wood has previously forecasted Bitcoin reaching $1.2 million per coin by 2030, though she reduced that target from an earlier $1.5 million projection.

Bitcoin traded around $66,020 on March 27, down approximately 48% from its October 2025 all-time high near $126,000.

Read next: Why Capital Is Rotating From Layer 1s Into Bittensor's AI Network

Bitcoin (BTC) fell 4% to $66,587 on March 27, reaching its lowest level in two weeks as veteran trader Peter Brandt identified a rising wedge formation that could push the cryptocurrency toward $60,000.

The decline comes amid escalating geopolitical tensions in the Middle East, with oil prices climbing and risk assets under pressure across global markets.

Brandt posted chart analysis on X showing a rising wedge pattern, a technical setup typically associated with downward reversals.

He highlighted $60,000 as a potential downside target, with $49,000 marking a longer-term floor.

Bitcoin last touched $60,000 on February 6 before recovering to $76,000 earlier this month.

Technical Pattern Emerges After Two-Week Decline

The rising wedge forms when price consolidates between two upward-sloping trendlines that converge, with the lower line rising more steeply.

Brandt noted Bitcoin "obeys the rules of classical charting better than most markets," suggesting the bearish setup could materialize.

He has previously forecast Bitcoin could bottom in third quarter 2026 around $60,000.

Bitcoin has now declined more than 20% since Middle East tensions escalated in late February. The cryptocurrency traded around its October 2025 all-time high of $126,000 before reversing sharply as geopolitical risk increased and institutional flows slowed.

Read also: Bitcoin Mining Hash Price Hits Post-Halving Low

Geopolitical Pressures Add to Downside Risk

U.S. President Donald Trump threatened to strike Iran's power plants unless the Strait of Hormuz reopens, pushing oil prices higher and weighing on risk assets including cryptocurrencies. Iran has vowed to retaliate against U.S. and Israeli targets if its energy infrastructure is attacked.

The ongoing standoff has sent Brent crude above $91 per barrel and raised concerns about renewed inflation pressure.

The 10-year U.S. Treasury yield climbed to an eight-month high as bond markets priced in potential rate hike expectations tied to rising energy costs. Bitcoin typically correlates with broader risk assets and tends to decline when macro uncertainty increases and liquidity conditions tighten.

Read next: Yellow Returned Millions To Investors — Is This the Beginning Of Crypto’s Post-VC Era?

Dogecoin (DOGE) retested its $0.090 support zone Thursday as analysts remain divided on whether the memecoin has found its floor or is heading toward significantly lower prices.

DOGE Macro Downtrend

Rekt Capital, a closely followed market analyst, flagged the move in a recent post, warning that Dogecoin's price correction is likely far from over. He noted that DOGE lost its multi-year macro uptrend in November, when it closed the month below an ascending support line that had held since early 2023.

That breakdown confirmed a macro downtrend, which began forming after Dogecoin peaked at $0.484 during the late 2024 bull run.

Rekt Capital said the coin is now sitting at a key range low — a zone that previously acted as resistance before flipping to support in 2024.

He warned the level will "likely" be lost over time, based on prior bear market behavior. A short-term relief bounce remains possible while the level holds, he said, but cautioned that a sustained recovery is not near.

Also Read: Mystery Wallet Loads $107M In ETH Near Lows, Arkham Points To Bitmine

Trader Tardigrade's Bullish DOGE Case

Not everyone shares that view.

Analyst Trader Tardigrade argued that Dogecoin may have already bottomed and could be building toward its next major rally. He pointed to a long-term trendline that has held for roughly a decade — one that DOGE is now retesting for the third time.

The first touch came in 2017, preceding a rally to DOGE's then-ATH of $0.017.

The second retest in 2021 preceded a surge to the current all-time high of $0.731.

Trader Tardigrade also noted that Dogecoin's current price structure resembles prior ATH setups, including a falling wedge pattern that has historically preceded major advances. He called the current zone a "prime accumulation window."

Whether that optimism holds will depend on whether the $0.090 area can absorb further selling pressure in the weeks ahead.

Read Next: Can Bittensor Keep Rallying Without Retail FOMO?

Crypto infrastructure project Yellow, which is building a decentralized clearing and settlement network for digital asset trading, on Friday announced refunded more than $8 million to early investors, in a move that signals a break from the venture capital-led funding model that has dominated the digital asset industry.

The decision, disclosed by co-founder Alexis Sirkia, involved returning the majority of external VC capital while retaining only a small group of investors deemed aligned with the project’s long-term development.

The refunds account for nearly 100% of the initial raise, leaving minimal token allocation in the hands of external venture firms.

The move comes as scrutiny grows over the role of venture capital in token ecosystems, particularly around concerns of misaligned incentives between early investors and broader communities.

Founder Cites Misalignment With Venture Capital Incentives

Sirkia said the decision was driven by a need to protect the project’s long-term vision and maintain alignment with its user base.

“Capital always comes at a cost, typically at the expense of relationships with the community of token holders. We refuse to let that happen at Yellow,” he said in a public statement.

He added that many venture participants were not aligned with the project’s long-term goals, pointing to industry practices such as early selling and hedging strategies that can put downward pressure on token prices and erode trust among users.

The restructuring leaves only a small portion of tokens held by external investors, with the majority now tied to the project’s community, team, and ecosystem participants.

Also Read: UK Politics Has A New Kingmaker — And It’s Not Who You Think

Shift Toward Community Ownership Model

Yellow said the decision is intended to ensure that ownership and incentives within the network are concentrated among builders and users rather than financial backers.

The project, which has attracted over 500 developers building on its open-source infrastructure, is positioning itself around a model where participation and contribution play a larger role in value distribution.

By reducing reliance on venture capital, Yellow is attempting to address a recurring criticism in crypto markets, where early-stage investors often hold significant token allocations that can later be sold into public liquidity.

Raises Questions Over Future Funding Models

The move highlights a growing debate over whether crypto projects can sustain growth without traditional venture backing.

Venture capital has historically provided not only funding but also strategic support and access to networks that can accelerate adoption.

Moving away from that model could limit those advantages, particularly in a competitive market.

Read Next: From Altcoins To Oil: Why Traders Are Turning To Crypto During War

Better and Coinbase have launched a mortgage product letting homebuyers pledge Bitcoin (BTC) as collateral for a down payment — drawing sharp criticism from gold advocate Peter Schiff, who says the structure shifts risk to lenders and could unravel if prices fall.

Better, Coinbase Launch BTC Mortgage

On Mar. 26, the two companies announced a partnership to offer mortgages tied to Fannie Mae standards and backed by digital assets. Borrowers can use their Bitcoin or USDC (USDC) holdings as collateral without selling them or triggering a tax event, according to a press release.

Better, which calls itself the first AI-native mortgage platform, says the product targets Americans who hold crypto but lack the cash savings for a traditional down payment. The company added that borrowers will not face margin calls if Bitcoin drops — collateral is only liquidated if a payment becomes more than 60 days delinquent.

Also Read: Mystery Wallet Loads $107M In ETH Near Lows, Arkham Points To Bitmine

Schiff Slams BTC Collateral Risk

Schiff pushed back almost immediately.

"Allowing homebuyers to pledge Bitcoin as a down payment on mortgage is a horrible idea, as it substantially increases the risk for lenders," he wrote on X. "If Bitcoin crashes, the down payment vanishes."

He also noted that lenders cannot touch the collateral until a borrower defaults, and later called the entire model a "scam to keep people from selling their Bitcoin to buy houses."

Van de Poppe, Schiff on BTC Outlook

The product arrives as Bitcoin itself trades under pressure. At the time of writing, BTC had slipped below $68,000, down roughly 3% over 24 hours and nearly 3% over the past week — though it remains up about 6% over 30 days.

It is still more than 45% below its Oct. 2025 all-time high.

Analyst Michaël van de Poppe read the dip differently, arguing that short-term holders were in capitulation — a pattern he associates with longer-term accumulation as weaker hands exit the market.

Schiff, for his part, has gone further in separate commentary, warning that Bitcoin could fall to $20,000 — an 84% drop from the Oct. 2025 peak of $126,000 — if it loses the $50,000 support level. He pointed to unrealized losses at Michael Saylor's Strategy as evidence the sell-off had further to run, and questioned Bitcoin's viability as a reserve asset given its volatility.

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Federal regulators cleared a Department of Labor (DOL) rule on Mar. 24 that could bring cryptocurrency into the $10 trillion 401(k) market, completing a key step in the White House review process.

DOL Rule Passes OIRA Review

The White House's Office of Information and Regulatory Affairs (OIRA) finished its review of the DOL proposal on Mar. 24. The rule, formally titled "Fiduciary Duties in Selecting Designated Investment Alternatives," would amend fiduciary guidance for plans governed by the Employee Retirement Income Security Act (ERISA).

If finalized, the rule could allow plan sponsors to include Bitcoin (BTC) and other cryptocurrencies as designated investment options alongside private equity.

The DOL classified it as "economically significant" and flagged it as "consistent with change."

No legal deadline exists for finalizing the rule. The DOL is expected to publish it formally in the coming weeks, opening a standard 60-day public comment window before revisions and a final version are issued.

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Trump's 401(k) Executive Order

The proposal builds on an executive order signed by President Donald Trump directing the DOL, the Securities and Exchange Commission (SEC), and the Treasury to reduce barriers blocking alternative assets from defined-contribution retirement plans.

The DOL separately rescinded a 2022 guidance that had warned fiduciaries to exercise "extreme caution" before adding crypto to 401(k) menus — a directive issued under a Biden-era executive order requiring risk assessments of digital assets.

Lawmakers have also moved on their own.

Rep. Troy Downing introduced a bill to give Trump's directive the force of law. Indiana advanced House Bill 1042 in February, requiring state-administered retirement plans for teachers and public employees to offer at least one digital asset option through self-directed brokerage accounts.

Matt Hougan On Crypto 401(k) Timing

Bitwise Chief Investment Officer Matt Hougan said in January that 2026 could be the year investors gain access to Bitcoin and other digital assets inside 401(k) accounts.

He noted that providers have been slow to adapt but acknowledged the Trump administration had effectively removed the prior ban.

Hougan pointed to growing adoption of digital assets in individual retirement accounts as evidence the trend is already in motion. Nine House members wrote to SEC Chair Paul Atkins in September urging prompt action to implement the executive order in coordination with the DOL.

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Solana (SOL) slid below $88 after failing to hold above $93, with hourly chart indicators turning bearish and traders now watching the $85 support level as the next line of defense against further downside.

SOL Price Decline

The token dropped through both the $90 and $88 levels in a move that tracked broader weakness across Bitcoin (BTC) and Ethereum (ETH). Sellers pushed SOL as low as $85.42.

The price now trades below the 100-hourly simple moving average.

A bearish trend line has formed with resistance at $88 on the hourly SOL/USD chart.

The 23.6% Fibonacci retracement of the decline from the $93.40 swing high to the $85.42 low sits above the current price, reinforcing the bearish structure. For bulls to regain control, SOL would need to close above $92, which could open the path toward $95 and eventually $102.

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SOL Support Levels

On the downside, $85 serves as immediate support. A break below $82 could expose the $80 zone.

If sellers push through $80, the next target sits near $74.

The hourly MACD is gaining momentum in bearish territory, while the RSI remains below 50.

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