1. CEX popular currencies
CEX top 10 trading volume and 24-hour rise and fall:
BNB: -8.42%
BTC: -5.39%
ETH: -12.25%
SOL: -10.24%
DOGE: -15.29%
XRP: -11.66%
RARE: 52.1%
MOVE: 2.91%
ADA: -10.16%
24 H increase list (data source: OKX):
DORA: 5.1%
OM: 3.07%
UMA: 2.73%
IP: 2.23%
HMSTR: 1.1%
VRA: 1.17%
LOOKS： 0.75%
LEO: 0.53%
ACT: 0.26%
ZKJ: 0.01%
2. Top 5 popular memes on the chain (data source: GMGN ):
BTRUMP
ROGER
YODA
PIPE
WTFO
3. 24-hour hot search currencies
GRK: GRK caused a short-term surge in the community due to Grok’s reply, and has not been officially certified by Musk or Grok AI.
Headlines
UK Treasury: No plans to introduce US-style Bitcoin reserves
According to market news, the UK Treasury said it has no plans to introduce US-style Bitcoin reserves.
According to EleanorTerrett’s post on the X platform, US Senator Bill Hagerty’s updated stablecoin bill, the GENIUS ACT, has been officially released.
In the latest text, the part about mutual recognition of payment stablecoins issued in overseas jurisdictions has been expanded compared to the February version, adding reserve requirements, supervision, anti-money laundering and counter-terrorism measures, sanctions compliance standards, liquidity requirements and risk management standards to promote international transactions and enhance interoperability with US dollar payment stablecoins issued overseas.
This bill may have a profound impact on the global stablecoin market and cross-border payment system, and more details need to be further interpreted.
Sources revealed that Trump plans to sign an executive order as early as this week to overturn the Biden administrations policy of restricting banking services for crypto companies, especially Operation Chokepoint 2.0. Sources said the order may involve the Federal Reserves master account policy to relax access to crypto banks. However, as an independent agency, the Federal Reserves policies are generally not directly affected by the White House. In addition, the executive order may cover stablecoin regulation, making it clear that stablecoins should not be considered securities. Senior White House officials plan to meet on Thursday to assess potential legal obstacles to the executive order and then submit it to President Trump for signature.
Industry News
Coinbase to launch 24/7 Bitcoin and Ethereum futures contracts in the U.S.
According to official news, Coinbase announced that Coinbase Derivatives, LLC, a futures exchange regulated by the CFTC, will launch the first batch of 24/7 Bitcoin and Ethereum futures contracts, allowing American traders to manage risks and seize opportunities uninterruptedly. In addition, Coinbase is also developing a perpetual futures contract to unlock key products that American traders have been missing.
Kraken Receives EMI Authorization from the UK Financial Conduct Authority
According to official news, cryptocurrency exchange Kraken announced that it has officially obtained the Electronic Money Institution (EMI) authorization issued by the UK Financial Conduct Authority (FCA), allowing it to issue electronic money and speed up deposits and withdrawals for customers, thereby enhancing its market position in the UK.
Thai regulator identifies Tether stablecoin USDT as a compliant cryptocurrency
According to official news, the Securities and Exchange Commission of Thailand has identified Tethers stablecoin USDT as a compliant cryptocurrency. This move marks a key moment in the development of digital assets in the region and an important step in clarifying and strengthening Thailands regulatory framework, which will provide investors with greater flexibility and choice while promoting a more dynamic and resilient industry. By achieving seamless integration of USDT, the decision supports the diversification and modernization of Thailands financial landscape.
Project News
MyShell released an “Official Statement on Binance Announcement and $SHELL Buyback Plan”:
“On March 7, we were notified by the Binance team about unusual activity involving one of our market makers. In response, we immediately terminated our relationship with the market maker and introduced several new partners to ensure stable liquidity. All Binance accounts associated with the market maker have been suspended, and all remaining assets will be transferred to our new market maker. In addition, all stablecoins sold by the market maker will be used to buy back $SHELL within 90 days. To ensure full transparency, we will publish the wallet addresses related to the buyback for community verification. In addition, we are working closely with Binance to make this process open and transparent.”
According to official news, Avalon Labs announced that it has successfully obtained a minimum credit line of US$2 billion, which is provided by a well-known Asian consortium, marking an important milestone in institutional lending in the crypto industry. This historic breakthrough is not only an important milestone in the institutional development of DeFi, but also highlights the strategic position of Bitcoin in the global financial system. With this credit support, Avalon Labs will provide institutions with institutional-grade USDT liquidity, while relying on an 8% fixed lending rate and a USDa stablecoin-based income mechanism to create a more robust and efficient Bitcoin over-collateralized lending system. As a leading Bitcoin stablecoin issuer and lending platform, Avalon Labs is promoting the deep integration of DeFi and traditional finance, leading global institutions into a new era driven by Bitcoin.
Regulatory trends
According to the updated regulations, the Virtual Asset Service Providers (Amendment) Regulations, which came into effect on April 1, 2025, the Cayman Islands will require cryptocurrency custody and trading companies to obtain a license to operate. Companies already operating in the country must submit an application by June 29, 2025, detailing asset security measures and operational details. It is reported that major cryptocurrency companies such as Coinbase, Binance and Bitwise have already obtained licenses in the Cayman Islands, and some companies such as the Sui Foundation have established headquarters there.
Lawyers at Gibson Law Firm said that the US SECs recently released memecoin guidance may imply that it will adjust its cryptocurrency regulatory policy and even affect the applicability of the Howey test. The US SEC previously issued a statement saying that memecoin should not generally be considered a security because the funds of its buyers are not concentrated on the development of related projects and the price depends on market speculation and collective sentiment. This position contradicts the SECs previous views in lawsuits against cryptocurrency exchanges and may affect all digital asset transactions in the secondary market. Analysts believe that this move shows that the SEC is gradually moving away from the tough regulatory approach of former Chairman Gary Gensler, bringing a clearer development direction to US cryptocurrency policy.
Character Voice
Arthur Hayes wrote on the X platform, saying that he would maintain great patience and predicted that Bitcoin might bottom out at about $70,000, which means a 36% drop from its all-time high of $110,000, which is a common adjustment in a bull market. Next, he believes that the stock market, especially SPX and NDX, will enter a free fall phase. Then, the Federal Reserve, the European Central Bank, and the Bank of Japan are expected to adopt loose policies to stimulate economic recovery in their respective countries.
He recommends entering the market in a big way in this situation. For traders, although they may miss the bottom, they can avoid experiencing long-term volatility and potential unrealized losses. If they are more cautious, they can wait for the easing policies of major central banks to be implemented before increasing capital investment.
As the stock market suffered a blow due to a new round of sell-off on Wall Street, Bitcoin fell below the key support level of $80,000 and approached the low of $78,000. Investors began to shift risky assets to safe assets. Analysis agency Kobeissi said that the US Government Department of U.S. Government Efficiency (DOGE) cuts in government spending were one of the reasons for the economic recession. They believe that U.S. government spending and job growth have been driving economic development, but DOGEs cost cuts will have far-reaching effects. It is not clear where BTC price trends may form a more reliable bottom.
