PRICE CHANGE: WTD/YTD

- Crypto Market Cap ($2.52T): +6% / -17%
- BTC ($71,743): +6% / -18%
- ETH ($2,131): +8% / -28%
- SOL ($89): +8% / -29%
- UNI ($4.02): +8% / -28%
- OP ($0.13): +9% / -52%
- COIN ($196): -1% / -14%
- Tether Mkt Cap ($184B): 0% / -2%
- USDC Mkt Cap ($79B): +2% / +4%
- BTC / ETH Dominance: 57% / 10%

THIS WEEK IN CRYPTO

- Bitcoin climbed back above $73,000 after a choppy week of trading that saw the cryptocurrency spike, retreat, and spike again, moving closely in step with U.S. equities with a correlation of 0.74, the highest level this year. Link. Link. Link.

- US Senate Majority Leader John Thune said he does expect the Clarity Act to clear the Senate Banking Committee before April. Link.

- A crypto whale lost nearly $50 million trying to swap USDT for Aave tokens, after trying to trade into a highly illiquid pool and facing massive slippage. Link. Link. Tweet.

- The US Court of Appeals for the 10th Circuit voted 7-3 to deny Custodia’s Bank’s petition for a Federal Reserve master account, ending the crypto bank’s five-year effort to gain direct access to the federal payments system. Crypto exchange Kraken was recently approved for a limited-purpose master account. Link.

- US prosectors plan to retry Tornado Cash cofounder Roman Storm on money laundering and sanctions charges, after a jury failed to reach a verdict in his initial trial. Link.

- Analysts estimate Circle’s USDC stablecoin has 64% of market share vs Tether’s USDT stablecoin, when adjusting for transactions that appear to be real people or institutions moving money. Link.

- Weekly active crypto developers are down 50% over the past year, with weekly commits to open source repos down 75%. Link. Link.

- An oil-linked perpetual contract on Hyperliquid racked up more than $7.3 billion in trading volume in a few days, coinciding with a more than 30% spike in oil futures on traditional exchanges as escalating conflict in the Middle East rattled global supply chains. Link. Link.

- Bitcoin’s mined supply has surpassed 20 million BTC, with the remaining 1 million BTC to be mined over the next 114 years. Link.

- Dubai’s flagship crypto conference Token2049 scheduled for April has been postponed to 2027 due to the Iran war. Link.

- Hardware security provider Ledger identified a vulnerability in Android firmware that allows attackers to extract a device’s PIN and private keys for several crypto wallets. Link. Link.

- Mastercard launched a global Crypto Partner Program with companies including Binance, Circle, and PayPal to collaborate on future product development and enterprise use cases including cross-border remittances, B2B transfers, payouts, and settlement. Link. Link.

- BlackRock’s iShares Staked Ethereum Trust ETF (ETHB), its first crypto ETF to incorporate staking, received over $15.5 million in trading volume on its first day of trading. Link.

- The Ethereum Foundation brokered an over-the-counter sale of 5,000 ETH, worth approximately $10.2 million, to ethereum treasury company BitMine. Link.

- Nasdaq is working on a token design that gives companies more control over their shares in tokenized form, including proxy-related and corporate actions as well as governance rights. Link. Link.

- Decentralized lending protocol Aave experienced a temporary oracle malfunction, resulting in approximately $26 million worth of wstETH positions being unfairly liquidated. Link.

- Pump.fun became the first platform on Solana to surpass $1 billion in cumulative revenue since launching in early 2024. Link.

- The Ethereum Foundation published a new mandate outlining the organization’s mission of censorship resistance, open source, privacy and security. Link. Mandate.

- Wells Fargo applied for WFUSD trademark, for potential use in stablecoins. Link.

- Fake police officers held a French couple at knifepoint in Versailles for $1 million in bitcoin, the latest wrench attack in France. Link.