Coin360 Weekly Dispatch | Crypto Market Updates & Highlights | March 9 - 15, 2025

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Crypto Weekly Recap

Bitcoin:

• Weekly performance: -3.34%
• US Spot BTC ETFs: -$870.39M
• BTC started the week with a dump, mirroring last week's move.
• After a slow weekend at $86K, Bitcoin dropped to $80K on Monday before rebounding to $84K.
• Monday saw the biggest BTC long liquidation since the Celsius + 3AC collapse and later FTX’s downfall.
• On Tuesday, as 'Trumpcession' fears grew, stocks lost $1.75T while BTC plunged below $77K for the first time since November 2024.
• BTC recovered midweek, surpassing $85K on Friday as S&P 500, down 10% from ATH and in correction, rebounded slightly after Trump’s tariff announcement, now staying at $84K.
• U.S. inflation fell to 2.8% in February from 3% in January, the first drop since mid-2024, but market uncertainty over tariffs kept BTC from rising.
• BTC underperformed gold again as XAU hit a new ATH above $3,000.
• Gold ETFs saw record $4.9B inflows in February, while U.S. spot BTC ETFs faced $3.56B in outflows; ETH ETFs recorded $60.07M in inflows.

• The Treasury Secretary described the economy as in a “detox period” following the previous administration’s support policies.
• BlackRock CEO Larry Fink predicted higher U.S. inflation over the next 6–9 months due to nationalistic policies and labor shortages.
• A study found 57% of U.S. respondents view Trump’s inconsistent policies as harmful to business, including one-third of Republicans.
• U.S. consumer sentiment fell to 57.9, the lowest in over two years, as inflation fears surged, with expectations at a 32-year high.
• CryptoQuant & Santiment data showed Bitcoin demand has been weakening since December 2024.
• Bank of America analyst Michael Hartnett argued the market is in a technical correction, not a bear market.
• Silver lining is still here: Nearly 40% of wealthy U.S. investors are ready to invest in Bitcoin, according to a Grayscale study.
• Major firms, including Strategy, poured billions into Bitcoin despite market volatility this week.

Ethereum:

• Weekly performance: -10.27%
• US Spot ETH ETFs: -$143.13M
• ETH underperformed again this week as CT joked about its price contrast with gold—once $3,000 vs. gold’s $1,800, now $1,800 while gold surpasses $3,000.
• On Tuesday, ETH dropped below $1,800 before a slow recovery, failing to break $1,950.
• The Pectra upgrade on Ethereum's Sepolia testnet faced issues after an attacker exploited a zero-token transfer vulnerability.
• The setback delayed the Pectra upgrade, pushing it back for a third testnet, ‘Hoodi.’
• A rumor claimed the Ethereum Foundation faced a $900M liquidation risk in the Sky debt crisis, but they denied involvement.
• Continuous sell-offs and bearish sentiment led ETH to underperform major assets, with XRP flipping its FDV due to shifting market dynamics.
• Altcoins, heavily hit whenever BTC slumped, showed progress as institutions kept filing for new ETFs and pushing updates on existing ones.

Altcoins:

• Gemini set a record with a massive Bitcoin logo drone show celebrating the US Strategic Bitcoin Reserve.
• Binance blocked a market maker for GPS and SHELL tokens.
• Base Blockchain faced backlash for promoting GrokCoin while developers felt overlooked.
• Elon Musk confirmed an X cyberattack, blaming a coordinated effort.
• Offchain Labs planned a gradual ARB accumulation as part of a strategic move.
• A DeFi trader lost 440K USDC in an MEV attack, receiving just 10K USDT.
• Suspicious high-leverage trades on Hyperliquid raised money laundering concerns amid a $4M HLP vault loss.
• Sony and LINE partnered to introduce mini-apps to Soneium.
• Indian authorities arrested the alleged Garantex founder for US extradition.
• Prosecutors claimed a former Supreme Court star had access to a crypto wallet handling $100M in transfers.
• Ledger assisted competitor Trezor in resolving a security vulnerability.
• Coinbase halted FLOKI, TURBO, and GIGA trading in New York.
• A hacked DB News X account triggered a 20% Trump memecoin pump-and-dump.
• Murad Mahmudov’s meme token portfolio became a cult phenomenon despite market turmoil.
• 99% of Pump.fun memecoins collapsed amid the market crisis.
• Global crypto regulation focused on trading, licensing, and stablecoins worldwide this week.
• Crypto adoption highlights: Binance’s historic $2B deal, BBVA’s bold entry, and more.
• U.S. crypto regulation recap: stablecoin laws, SEC’s rethink, and Bitcoin reserves.
• An ECB survey showed weak demand for the digital euro.
• MoonPay acquired stablecoin infrastructure firm Iron in a deal worth at least $100M.
• Robinhood added PENGU, POPCAT, and PNUT to its meme coin listings.
• Lazarus Group sent 400 ETH to Tornado Cash and deployed new malware.
• Crypto payments network Mesh secured $82M in Series B, mostly settled in PayPal’s PYUSD.
• Hong Kong-based RedotPay closed a $40M Series A funding round.
• Axelar Foundation disclosed $30M in AXL token sales as it expanded its interoperability protocol.

Binance Secures $2 Billion Investment from Abu Dhabi's MGX, Largest Crypto Investment Ever

Binance has secured a historic $2 billion investment from Abu Dhabi’s MGX, marking the largest investment in a cryptocurrency company. This deal grants MGX a minority stake in Binance, emphasizing the partnership's goal to innovate at the intersection of AI, blockchain, and finance. Binance's CEO, Richard Teng, stressed their commitment to compliance and security, while MGX's CEO, Ahmed Yahia, highlighted the potential of blockchain in revolutionizing digital finance. Despite the investment, BNB's price remained stable at around $566. Binance also introduced a token review framework and a community voting mechanism for listings, reflecting evolving market dynamics.

Crypto Legal Landscape Shifts: Robinhood, Kraken, Coinbase, and Ripple Lawsuit

The cryptocurrency sector continues to navigate significant legal and regulatory changes, impacting major exchanges and their operations. In the latest crypto legal developments, Robinhood will pay $29.75 million to settle FINRA investigations on compliance failures. Kraken secured a UK EMI license, enhancing payment services, while Coinbase returns to India with regulatory approval, aiming for retail trading by 2025. OKX refuted EU investigation claims related to Bybit hack fund laundering. Ripple's SEC lawsuit nears conclusion, focusing on XRP versus Ethereum's status, with XRP price at $2.25. Vermont dropped its Coinbase staking case, reflecting a pro-crypto regulatory shift. Additionally, a court approved 3AC's expanded $1.53 billion claim against FTX amid complicated bankruptcy proceedings.

Crypto ETF Developments: Bitwise, Fidelity and More Seeks Approval Amid SEC Delays on Altcoins

In a dynamic crypto market, notable ETF developments include Bitwise's launch of the Bitcoin Standard Corporations ETF, targeting firms with over 1,000 BTC, and Cboe BZX's proposal to allow staking for Fidelity's Ethereum ETF amid declining assets. VanEck's Avalanche ETF filing and Franklin Templeton’s applications for XRP and Solana ETFs reflect growing institutional interest. The SEC has delayed decisions on multiple altcoin ETFs, impacting market sentiment. Meanwhile, 21Shares plans to liquidate two Bitcoin and Ethereum futures ETFs by March 2025. These trends underscore a shifting landscape in crypto investment, with approval chances for new ETFs enhancing market opportunities.

Aave Labs Launches Horizon Initiative to Connect DeFi with $16 Trillion Institutional Tokenized Asset Market

Aave Labs has launched the Horizon initiative to bridge traditional finance and decentralized finance, targeting the $16 trillion institutional market for tokenized real-world assets (RWAs). With a 408% increase in tokenized U.S. Treasuries, Horizon aims to enable institutions to use tokenized money market funds as collateral for borrowing stablecoins like USDC and Aave's GHO. Revenue model details include 50% of first-year profits to the Aave DAO, and potential tokens may allocate 15% to community incentives. Horizon will be an initial licensed version of Aave V3, transitioning to a specialized deployment with institutional-focused features and permissioned operations.

CZ Denies WSJ Claims Linking Binance.US to Trump Family Investment Talks and Pardon Efforts

Changpeng "CZ" Zhao, former CEO of Binance, vehemently denied a Wall Street Journal report linking Binance.US to talks with Donald Trump’s family for a possible investment and presidential pardon following his guilty plea for anti-money laundering law violations. He criticized the article as false and politically motivated, claiming it was part of an anti-crypto agenda. Despite serving a four-month prison sentence and reaching a $4.3 billion settlement with U.S. authorities, Zhao stated he never sought clemency. Accusing the WSJ of bias against Binance, he remains committed to promoting cryptocurrency globally while challenging unfavorable narratives.

Hyperliquid Faces $4M Loss Amid Whale's Forced Liquidation and Manipulation Allegations

Hyperliquid incurred over $4 million in losses due to the forced liquidation of a whale trader's massive 175,000 ETH position, linked to aggressive leverage strategies. Initially, the trader deposited $15.23 million USDC but withdrew funds, increasing liquidation risks. The liquidation occurred at $1,915 per ETH, placing downward pressure on market prices. There are concerns of potential market manipulation, as the whale may have orchestrated the liquidation to offload risk to Hyperliquid's HLP Vault. Following the incident, Hyperliquid reduced leverage limits, while the platform's token HYPE dropped 11%. The event raises alarms over strategic high-stakes trading practices.

Solana Falls Below Realized Price Amid $22.9M FTX Move, Governance Proposals Yield Mixed Results

Solana (SOL) is experiencing bearish pressure, trading at $122.3 and falling below its realized price, signaling potential panic selling among holders. Key support levels are at $118 and $126, with further declines possible to $109. FTX’s recent unstaking of 185,345 SOL, worth $22.9 million, adds to concerns, as the exchange has unstaked 8.019 million SOL since November 2023, valued at nearly $1 billion. A governance proposal failed to achieve a 66.67% majority, while another passed to enhance revenue transparency for stakers. The annual inflation rate remains at 4.6% amid these developments, complicating Solana's recovery prospects.

World Liberty Financial Raises $590M in Token Sales Amid $124M Portfolio Loss

World Liberty Financial (WLFI) has raised $590 million through two public token sales, ranking among the top 10 largest in crypto history. The first sale in October 2024 raised $300 million, followed by a second sale in March 2025 that brought in $250 million, selling nearly all allocated tokens. Despite this success, WLFI faces skepticism due to its ties to the Trump family and concerns over governance and sustainability. Additionally, its portfolio has suffered a $124 million decline, primarily driven by losses in Ethereum and Chainlink, raising questions about its treasury management and long-term viability in the DeFi space.

ZKSync Ends Ignite Liquidity Rewards Program Amid Market Downturn

ZKSync's Ignite liquidity rewards program will end on March 17, 2025, due to ongoing bearish market conditions and a strategic pivot to the Elastic Network. The program initially allocated 300 million ZK tokens, valued at $21 million, but is now worth just $6.8 million, with total value locked (TVL) dropping from $270 million to $139 million. Active daily wallets have declined to under 20,000, and stablecoin liquidity is down 60% to $74 million. Future efforts will focus on organic growth and governance adjustments, moving away from reliance on liquidity incentives amid a challenging Layer 2 market landscape.

Top Weekly Altcoin Gainers and Losers

Gainers:

• Story IP (+20.05%)
• Kaspa KAS (+15.37%)
• Celestia TIA (+10.05%)
• Cosmos ATOM (+5.84%)
• OKX OKB (+5.28%)

Losers:

• Pi Network PI (-19.93%)
• Ethena ENA (-18.27%)
• Hedera HBAR (-16.49%)
• JasmyCoin JASMY (-15.14%)
• Artificial Superintelligence Alliance FET (-14.91%)