Stablecoins, tokenized assets gain as Trump tariffs loom
Cryptocurrency investors are increasingly moving capital into stablecoins and tokenized real-world assets (RWAs) in a bid to avoid volatility ahead of US President Donald Trump’s widely anticipated tariff announcement on April 2.Increasingly, more capital is flowing into stablecoins and the real-world asset (RWA) tokenization sector, which refers to financial products and tangible assets such as real estate and fine art minted on the blockchain.“Stablecoins and RWAs continue to see steady inflows of capital as safe havens in the current uncertain market,” crypto intelligence platform IntoTheBlock wrote in a March 31 X post.“However, because these assets reside on-chain, even slight shifts in sentiment can trigger significant price movements, driven by the lower barriers to reallocating capital in real time,” the firm noted.Stablecoins, total market cap. Source: IntoTheBlockThe flight to safety is mainly attributed to geopolitical tensions and global trade concerns, according to Juan Pellicer, senior research analyst at IntoTheBlock:“Many investors were expecting economic tailwinds following Trump's inauguration as president, but increased geopolitical tensions, tariffs and general political uncertainty are making investors more cautious.”“This is not unreasonable, as even though global growth forecasts remain positive, growth expectations have decreased globally in recent months,” he added.Related: Bitcoin ‘more likely’ to hit $110K before $76.5K — Arthur HayesThe prospect of a global trade war has heightened inflation-related concerns, causing a significant decline in both cryptocurrency and traditional equity markets.S&P 500, BTC/USD, 1-day chart. Source: TradingView Bitcoin (BTC) has fallen 19% and the S&P 500 (SPX) index has fallen over 7% in the two months since Trump announced import tariffs on Chinese goods on Jan. 20, the day of his inauguration as president.The April 2 announcement is expected to detail reciprocal trade tariffs targeting top US trading partners. The measures aim to reduce the country’s estimated $1.2 trillion goods trade deficit and boost domestic manufacturing.Related: Stablecoin rules needed in US before crypto tax reform, experts sayInvestor sentiment pressured by April 2 Trump tariff announcementGlobal tariff fears and uncertainty around the upcoming announcement continue to pressure investor sentiment in global markets.“Risk appetite remains muted amid tariff threats from President Trump and ongoing macro uncertainty,” Iliya Kalchev, dispatch analyst at digital asset investment platform Nexo, told Cointelegraph.Meanwhile, RWAs reached a new cumulative all-time high of over $17 billion on Feb. 3, and are currently less than 0.5% away from surpassing the $20 billion milestone, according to data from RWA.xyz.RWA global market dashboard. Source: RWA.xyzSome industry watchers said that Bitcoin’s lack of upside momentum may drive RWAs to a $50 billion all-time high before the end of 2025, as their increased liquidity will help RWAs attract a significant share of the $450 trillion global asset market.Magazine: SCB tips $500K BTC, SEC delays Ether ETF options, and more: Hodler’s Digest, Feb. 23 – March 1
Crypto funds see $226M of inflows, but asset values slump — CoinShares
Cryptocurrency exchange-traded products (ETPs) continued to see modest inflows last week, extending a reversal from a record-breaking streak of outflows.Global crypto ETPs posted $226 million in inflows in the last trading week, adding to the prior week’s $644 million inflows, CoinShares reported on March 31.Despite the two-week positive trend after a five-week outflow streak, total assets under management (AUM) continued to decline, dropping below $134 million by March 28.Weekly crypto ETP flows since late 2024. Source: CoinSharesLast week’s inflows suggest positive but cautious investor behavior amid core Personal Consumption Expenditures in the US coming in above expectations, CoinShares’ head of research James Butterfill said.Bitcoin leads weekly inflowsBitcoin (BTC) investment products attracted the majority of inflows, totaling $195 million for the week, while short-BTC investment products saw outflows for the fourth consecutive week, totaling $2.5 million.Altcoins, in aggregate, saw a first week of inflows totaling $33 million, following four consecutive weeks of outflows totaling $1.7 billion.Flows by asset (in millions of US dollars). Source: CoinSharesAmong individual altcoins, Ether (ETH) saw $14.5 million in inflows. Solana (SOL), XRP (XRP) and Sui (SUI) followed with $7.8 million, $4.8 million and $4 million, respectively.AUM drops to lowest level in 2025 amid price slumpDespite recent inflows, crypto ETPs have failed to trigger a reversal in terms of total AUM.Since March 10, the total crypto ETP AUM dropped 5.7% from 142 billion, amounting to 133.9 billion as of March 28, the lowest level in 2025.Related: BlackRock to launch Bitcoin ETP in Europe — ReportAccording to CoinShares’ Butterfill, the AUM decline could be attributed to a slump in cryptocurrency prices.“Recent price falls have pushed Bitcoin global ETPs’ total assets under management to their lowest level since just after the US election at $114 billion,” Butterfill wrote.Bitcoin price chart since Jan. 1, 2025. Source: CoinGeckoSince Jan. 1, 2025, the BTC price has dropped 13.6%, while the total market capitalization has tumbled nearly 20%, according to data from CoinGecko. Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29
Trump sons back new Bitcoin mining venture with Hut 8
Several members of US President Donald Trump’s family are backing a new venture to launch what aims to become the world’s largest Bitcoin mining firm.Hut 8, a digital asset mining and infrastructure company, announced on March 31 that it is acquiring a majority stake in American Bitcoin, formerly known as American Data Center. The firm was founded by a group of investors, including Trump’s sons, Donald Trump Jr. and Eric Trump.Related: Bitcoin miner Hut 8 argues to toss ‘short and distort’ shareholder suitAs part of the deal, American Bitcoin will take ownership of Hut 8’s Bitcoin (BTC) mining hardware. Donald Trump Jr. said that the entrepreneurs behind American Data Centers have backed their conviction in Bitcoin personally and through their businesses.The new venture “aims to become the world’s largest, most efficient pure-play Bitcoin miner while building a robust strategic Bitcoin reserve,” the announcement said. Mining operations will remain under Hut 8’s compute segment but will operate through the American Bitcoin brand. Donald Trump Jr. added:“Mining it on favorable economics opens an even bigger opportunity. We’re excited to bring investors into that equation through a platform engineered to execute on this thesis and deliver real, tangible participation in Bitcoin’s growth.”Trump family deepens involvement in cryptoPresident Trump continues to promote pro-crypto policy as his family and affiliated companies expand their presence in the digital asset space.On March 28, he pardoned three co-founders of crypto exchange BitMEX who previously pleaded guilty to federal money laundering charges, according to a CNBC report.On March 21, the US Treasury dropped the decentralized crypto mixer Tornado Cash from its sanction lists, invalidating related legal proceedings. Additionally, the Securities and Exchange Commission’s Division of Corporation Finance recently stated that memecoins do not qualify as securities under US law. Progress is underway on the creation of a national Bitcoin strategic reserve.On the commercial front, Trump launched his Official Trump (TRUMP) memecoin. His Trump Technology Group also announced a partnership with Crypto.com, which is expected to support a new suite of crypto exchange-traded funds. The Trump family has been involved in launching a decentralized finance protocol on Aave called World Liberty Financial (WLFI), as well as introducing a new stablecoin named USD1.Related: Hut 8 tips 66% hashrate boost after deal to buy 31K Bitcoin minersStrategic shift for Hut 8Hut 8 CEO Asher Genoot recognized the launch of American Bitcoin as a “pivotal evolution” in the firm‘s strategy. He said that separating the mining business from the rest of the corporate activities would allow it to raise its own capital and “align each segment of the business with its respective cost of capital.” He added:“It evolves Hut 8 toward more predictable, financeable, lower-cost-of-capital segments and establishes American Bitcoin as a pure-play mining platform built for exahash growth, Bitcoin production, and operating leverage.”The report follows Hut 8 surpassing $1 billion worth of Bitcoin holdings after acquiring 990 BTC for $100 million at the end of 2024. At the time, the company’s total Bitcoin mining stood at 10,096 BTC acquired at an average price of $24,484 per Bitcoin.Bitcoin mining revenue approached $3.6 billion in Q1 2025 as industry income stabilized after the last halving. Recent data also shows that miners’ daily revenue per unit of hash power remained constant at around $48 per petahash per second, despite the mining difficulty increasing.Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29
How to file crypto taxes in the US (2024–2025 tax season)
Key takeawaysUS crypto investors must file their 2024 tax returns by April 15, 2025, ensuring all crypto transactions are accurately reported to the IRS.Crypto held for less than a year is taxed as ordinary income (10%-37%), while holdings over a year qualify for lower capital gains rates (0%, 15%, or 20%).Selling, trading, or spending crypto triggers taxes, while holding or transferring between wallets does not.Mining, staking, airdrops, and crypto payments are taxed as income at applicable rates.The world of cryptocurrencies can indeed be an exciting space for investors, but as the tax season approaches, many US investors find themselves grappling with confusion and uncertainty. With the upcoming tax filing deadline of April 15, 2025, it’s a critical time to get a handle on crypto tax obligations. Ask most US crypto investors, and they’ll likely tell you that figuring out what transactions trigger a taxable event feels like navigating a maze.Understanding various aspects of tax filing is crucial for accurately filing taxes, avoiding penalties and staying compliant with the Internal Revenue Service (IRS). This article breaks down key elements like tax brackets, rates, exemptions and other critical details. How does the IRS tax crypto?The Internal Revenue Service, the agency responsible for collecting US federal taxes, treats cryptocurrencies as property for tax purposes. You pay taxes on gains realized when selling, trading or disposing of cryptocurrencies. For short-term capital gains (held less than a year), you pay taxes at the rates of 10%–37%, depending on your income bracket. Long-term capital gains (assets held for over a year) benefit from reduced rates of 0%, 15% or 20%, also based on your taxable income.When you dispose of cryptocurrency for more than its purchase price, you generate a capital gain. Conversely, selling below the purchase price results in a capital loss. You must report both your capital gains and losses for the year in which the transaction occurs, with gains being taxable and losses potentially offsetting gains to reduce your tax liability. With the upcoming April 15, 2025, deadline for filing 2024 tax returns, US crypto investors need to ensure these transactions are accurately tracked and reported.To illustrate, suppose you purchased Ether (ETH) worth $1,000 in 2023 and sold it after a year in 2024 for $1,200, netting a $200 profit. The IRS would tax that $200 as a long-term capital gain, applying the appropriate rate based on your 2024 income.Taxes are categorized as capital gains tax or income tax, depending on the type of transactions:Capital gains tax: Applies to selling crypto, using crypto to purchase goods or services, or trading one cryptocurrency for another.Income tax: Applies to crypto earned through mining, staking, receiving it as payment for work, or referral bonuses from exchanges.These distinctions are crucial for accurate reporting by the April 15 deadline. Gains are taxed, while losses can help offset taxable income, so detailed record-keeping is a must.Did you know? In Australia, gifting cryptocurrency triggers a capital gains tax (CGT) event. The giver may need to report gains or losses based on the asset’s market value at the time of transfer, though certain gifts — like those between spouses — may qualify for exemptions. While this differs from US rules, it highlights how crypto taxation varies globally.How crypto tax rates work in the USIn the US, your crypto tax rate depends on your income and how long you’ve held the cryptocurrency. Long-term capital gains tax rates range from 0% to 20%, and short-term rates align with ordinary income tax rates of 10%–37%. Transferring crypto between your own wallets or selling it at a loss doesn’t trigger a tax liability.You only owe taxes when you sell your crypto, whether for cash or for any other cryptocurrency. Consider this example: Suppose you bought crypto for $1,000 in 2024, and by 2025, its value rose to $2,000. If you don’t sell, no tax is due — unrealized gains aren’t taxable.If you sell cryptocurrency after holding it for a year or less, your profits are subject to short-term capital gains tax. These gains are taxed as ordinary income, meaning they are added to your total taxable earnings for the year. Tax rates are progressive, based on income brackets, so different portions of your income are taxed at different rates. For instance, a single filer in 2025 pays 10% on the first $11,000 of taxable income and 12% on income up to $44,725. Short-term rates are higher than long-term rates, so timing your sales can significantly impact your tax bill.Understanding crypto capital gains tax in the USIf you sell cryptocurrency after holding it for a year or less, your profits are subject to short-term capital gains tax. These gains are treated as ordinary income and added to your total taxable earnings for the year. Since tax rates are based on income brackets, different portions of your earnings are taxed at different rates, as explained above. 2024–2025 federal income tax brackets for crypto earningsHere are the federal income tax rates for the 2024–2025 tax year. You apply the 2024 tax brackets to income earned in the 2024 calendar year, reported on tax returns filed in 2025.Long-term capital gains tax for crypto earned in 2024You pay long-term capital gains tax if you sell cryptocurrency after holding it for more than a year. Unlike short-term gains, these aren’t taxed as ordinary income. Instead, tax rates are based on your total taxable income and filing status. Long-term capital gains tax rates are 0%, 15% or 20%, making them lower than short-term rates. Holding crypto longer can reduce your tax burden significantly.Here is a table outlining long-term crypto capital gains tax for the calendar year 2024. These rates are applicable when filing tax returns in 2025.2024–2025 standard deduction: Reduce your crypto taxable incomeThe standard deduction is the portion of your income that’s exempt from federal taxes before tax rates are applied, reducing your taxable income.Here is a table regarding tax deductions in the calendar year 2024. These amounts are applicable when filing for tax returns in 2025.How are crypto airdrops taxed in the US?In the US, crypto airdrops are treated as ordinary income by the IRS and taxed at the time they come under the taxpayer’s full control. The taxable amount is based on the tokens’ fair market value at that moment, even if the taxpayer didn’t request them. Later, selling or trading those tokens may trigger capital gains tax, depending on the price difference between receipt and disposal.The taxable event hinges on control: If tokens automatically appear in a taxpayer’s wallet, the income is typically recognized upon arrival. If the tokens require manual claiming (e.g., through a transaction), the taxable event occurs when the claim is completed. Either way, the fair market value at that point determines the income reported.When the taxpayer sells or trades the airdropped tokens, they incur a capital gain or loss, calculated as the difference between the value at receipt (the basis) and the value at sale or trade. Moreover, the holding periods matter: If sold within a year, gains are taxed at ordinary income rates (10%–37%, based on income brackets). If held longer than a year, gains qualify for lower long-term capital gains rates (0%, 15% or 20%, depending on income). Proper tracking of receipt dates and values is essential for accurate tax reporting.Crypto gifting rules and tax implications in the USIn the US, gifting cryptocurrency is generally not a taxable event for either the giver or the recipient, meaning no immediate tax is owed. However, specific thresholds and reporting requirements must be followed to stay compliant with IRS rules. For the 2024 tax year (filed by April 15, 2025), if the total value of crypto gifts to a single recipient exceeds $18,000, the giver must file a gift tax return using Form 709. When the recipient eventually sells the gifted cryptocurrency, they’ll calculate capital gains or losses based on the giver’s original cost basis — the price the giver paid for the crypto. If this cost basis isn’t documented or available, the recipient may need to assume a basis of $0, which could increase their taxable gain upon sale. To avoid complications, both parties should keep detailed records of the gift’s fair market value at the time of transfer and the giver’s original cost basis.Did you know? In the UK, giving cryptocurrency as a gift may result in capital gains tax for the giver, except for gifts to spouses or civil partners. Additionally, inheritance tax could apply if the giver dies within seven years of the gift.Essential forms for filing crypto taxes in 2024With the April 15, 2025, deadline nearing, here are the key forms for reporting 2024 crypto transactions:Form 8949: For reporting capital gains and losses from crypto sales, trades and disposals. Each transaction must be listed individually.Schedule D (Form 1040): Summarizes total capital gains and losses from Form 8949; used for calculating taxable income.Schedule 1 (Form 1040): Reports additional income, including staking rewards, airdrops and hard forks, if classified as taxable income.Schedule C (Form 1040): Used by self-employed individuals or businesses to report crypto-related income from mining, consulting or freelance work.Form 1099-MISC: Issued for staking, mining or payment income over $600Form 1040: The main return form to combine income, deductions and tax liability.FBAR (FinCEN Form 114): File separately if foreign crypto accounts exceeded $10,000 in 2024.Step-by-step guide to filing crypto taxes for the 2024–2025 tax seasonHere’s how to file, step by step, leveraging the detailed tax rates and forms outlined above.Step 1: Gather all crypto transaction recordsCollect records for every 2024 crypto transaction:Dates of buying, selling, trading or receiving cryptoAmounts (e.g., 0.5 Bitcoin) and US dollar fair market value (FMV) at the timeCost basis (what you paid, including fees) and proceeds (what you received).To ensure complete records, pull data from wallets, exchanges (e.g., Coinbase) and blockchain explorers. Export transaction histories or CSVs, and note staking rewards, airdrops or mining income separately with their FMV on receipt.Step 2: Identify taxable eventsPinpoint which 2024 actions trigger taxes:Taxable: Selling crypto for cash/stablecoins, trading crypto, spending crypto or earning it (mining, staking, airdrops).Non-taxable: Buying and holding with USD, moving crypto between your wallets, gifting up to $18,000 per recipient.Classify each taxable event as short-term (≤1 year) or long-term (>1 year) for rate purposes.Step 3: Calculate capital gains and lossesFor taxable sales or trades:Formula: Proceeds (FMV at disposal) - Cost Basis = Gain/LossExample: Bought 1 Ether (ETH) for $2,000 in May 2024, sold for $2,500 in November 2024 = $500 short-term gain.Use first-in, first-out or specific identification for cost basis (be consistent). Sum your net gains/losses. See the “2024 Federal Income Tax Brackets” section for how these are taxed.Step 4: Calculate crypto incomeFor earnings (mining, staking, airdrops):Record FMV in USD when received (e.g., 10 Cardano worth $5 on June 1, 2024 = $5 income).Add to your other 2024 income to set your tax bracket, detailed in the sections above.Step 5: Apply the 2024 standard deductionLower your taxable income with the standard deduction:Single: $14,600Married filing jointly: $29,200Head of household: $21,900Subtract this from total income (including short-term gains and crypto income). Long-term gains are taxed separately.Step 6: Determine your tax ratesApply rates to your gains and income (refer to “How Crypto Tax Rates Work in 2024”):Short-term gains and income: Ordinary rates (10%–37%).Long-term gains: 0%, 15% or 20%, based on income.Offset gains with losses (up to $3,000 net loss against other income; carry forward excess).Step 7: Complete the necessary tax formsFill out the required IRS forms (see “Essential Forms for Filing Crypto Taxes in 2024”):List capital gains/losses and income on Form 8949, Schedule D and Schedule 1 as applicable.Use Schedule C if self-employed (e.g., mining business).Combine everything on Form 1040.Check Form 1099-MISC if received and file FBAR for foreign accounts over $10,000.Step 8: File your return by April 15, 2025Submit via IRS e-file or mail, postmarked by April 15, 2025. Need more time? File Form 4868 for an extension to Oct. 15, 2025, but pay estimated taxes by April 15 to avoid penalties.Step 9: Pay any taxes owedEstimate your tax from Step 6, then pay via IRS Direct Pay or check. Late payments after April 15 incur a 0.5% monthly penalty plus interest.Step 10: Keep records for auditsStore transaction records and forms for three to six years. The IRS is intensifying crypto scrutiny — be prepared.Did you know? In Canada, giving cryptocurrency as a gift is generally considered a taxable disposition, requiring the giver to determine and report any capital gains or losses.Important dates and deadlines for 2024–2025 tax season and beyond Here are important dates regarding the 2024–2025 tax season and 2025 transition:2024 tax seasonJan. 31, 2025: Some exchanges may issue voluntary 1099s (e.g., 1099-MISC).April 15, 2025: File taxes on crypto earned in 2024.2025 transitionJan. 1, 2025: Form 1099-DA reporting begins.Dec. 31, 2025: Safe harbor ends for adjusting universal cost basis.Jan. 31, 2026: Receive Form 1099-DA for 2025 trades.Quarterly estimatesJune 15, Sept. 15, 2025, etc., for active traders.New IRS crypto tax rules for 2025: What you need to knowThe IRS introduced new rules for tax filing and reporting aimed at US cryptocurrency taxpayers, but these regulations have encountered significant pushback. Both the US Senate and House of Representatives voted to repeal them under the Congressional Review Act (CRA), and President Donald Trump has signaled support for the rollback. Despite this uncertainty, understanding these rules remains crucial, especially with deadlines looming in 2025.A core component of the new rules is calculating taxes using a cost basis — the original amount invested in an asset, including fees or commissions. Accurately tracking cost basis is vital for proper tax reporting and prevents double taxation on reinvested earnings. It’s the starting point for determining capital gains or losses. Under the updated IRS guidelines, crypto investors must now track the cost basis (original purchase price) separately for each account or wallet, moving away from a universal tracking approach. This requires recording the purchase date, acquisition cost and specific transaction details.The rules also mandate specific identification for every digital asset sale, requiring taxpayers to report the exact purchase date, quantity and cost of the assets sold. If this information isn’t provided, the IRS defaults to the first-in, first-out (FIFO) method — selling your earliest coins first — which could inflate taxable gains if those initial purchases had lower costs. For taxpayers previously using a universal cost basis method, the IRS requires reallocating their basis across all accounts or wallets accurately by Dec. 31, 2025, to comply with these standards.Form 1099-DA: What to expect for crypto taxes in 2025–2026As of March 27, 2025, Form 1099-DA is set to become a pivotal tool for the 2025–2026 tax season, simplifying how cryptocurrency transactions are reported in the US. This new form, tailored specifically for digital assets, will be issued by exchanges to both taxpayers and the IRS, providing a detailed breakdown of activities like sales, trades and other taxable crypto events from 2025. It’s designed to streamline compliance and bolster IRS oversight, reflecting the agency’s growing focus on tracking digital asset income. For taxpayers, it promises easier, more accurate reporting, while exchanges take on a larger role in tax documentation. For the 2024 tax year — due by April 15, 2025 — this form isn’t yet available; filers must still rely on existing forms like Form 1099-MISC until Form 1099-DA officially takes effect for 2025 earnings.IRS crypto tax penalties: What happens if you don’t report or under-report in 2024?US taxpayers who fail to meet their tax obligations may face penalties from the IRS. When tax obligations go unmet, the IRS sends a notice or letter detailing the penalty, its reason (e.g., late filing, non-payment or inaccurate reporting) and your next steps. Penalties vary: Late filing or non-payment can incur fines up to 25% of the unpaid tax, plus interest that accrues until settled. Other triggers — like bounced checks or fraudulent claims — add further costs, and the IRS may launch an audit to scrutinize your filings.Individuals may face penalties of up to $100,000 and criminal sanctions, including imprisonment for up to five years. Corporations can be fined up to $500,000.These stakes are high, especially as the IRS ramps up crypto enforcement in 2024. To dodge these consequences, double-check any notice for accuracy and act fast: Request a filing extension with Form 4868 if needed (due by April 15, 2025), arrange a payment plan for unaffordable penalties, or dispute the penalty if you believe it’s unjustified. Prompt action can save you from escalating costs and legal headaches.
MARA Holdings plans huge $2B stock offering to buy more Bitcoin
Bitcoin miner MARA Holdings Inc (MARA) is looking to sell up to $2 billion in stock to buy more Bitcoin as part of a plan that bears a resemblance to Michael Saylor’s Strategy.MARA Holdings, formerly Marathon Digital, said in a March 28 Form 8-K and prospectus filed with the Securities and Exchange Commission that it entered into an at-the-market agreement with investment giants, including Cantor Fitzgerald and Barclays, for them to sell up to $2 billion worth of its stock “from time to time.”“We currently intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin and for working capital,” MARA added.MARA’s move copies a tactic made famous by Bitcoin (BTC) bull Saylor, the executive chair of the largest corporate Bitcoin holder Strategy, formerly MicroStrategy, which has used a variety of market offerings, including stock sales, to amass 506,137 BTC worth $42.4 billion.MARA Holdings falls just behind Strategy with the second largest holdings by a public company, with 46,374 BTC worth around $3.9 billion in its coffers, according to Bitbo data.In July, the company’s CEO, Fred Thiel, said it was going “full HODL” and wouldn’t sell any of the Bitcoin it mined to fund its operations, as is typical for crypto miners, and would purchase more of the cryptocurrency to keep in reserve.Related: Crusoe to sell Bitcoin mining business to NYDIG to focus on AI The Bitcoin (BTC) miner’s planned stock sale follows a similar offering it made early last year that offered up to $1.5 billion worth of its shares. It also issued $1 billion of zero-coupon convertible senior notes in November with plans to use most of the proceeds to buy Bitcoin.Google Finance shows that MARA closed the March 28 trading day down 8.58% at $12.47, following on from crypto mining stocks being rattled a day earlier with reports that Microsoft abandoned plans to invest in new data centers in the US and Europe.MARA shares have fallen another 4.6% to $11.89 in overnight trading on March 30, according to Robinhood.Bitcoin is trading just above $82,000, down 1.2% over the past 24 hours after falling from a local high of around $83,500, according to CoinGecko.Magazine: Bitcoin vs. the quantum computer threat — Timeline and solutions (2025–2035)
Android malware ‘Crocodilus’ can take over phones to steal crypto
Cybersecurity firm Threat Fabric says it has found a new family of mobile-device malware that can launch a fake overlay for certain apps to trick Android users into providing their crypto seed phrases as it takes over the device. Threat Fabric analysts said in a March 28 report that the Crocodilus malware uses a screen overlay warning users to back up their crypto wallet key by a specific deadline or risk losing access.“Once a victim provides a password from the application, the overlay will display a message: Back up your wallet key in the settings within 12 hours. Otherwise, the app will be reset, and you may lose access to your wallet,” Threat Fabric said. “This social engineering trick guides the victim to navigate to their seed phrase wallet key, allowing Crocodilus to harvest the text using its accessibility logger.” Source: Threat FabricOnce the threat actors have the seed phrase, they can seize complete control of the wallet and “drain it completely.” Threat Fabric says despite it being a new malware, Crocodilus has all the features of modern banking malware, with overlay attacks, advanced data harvesting through screen capture of sensitive information such as passwords and remote access to take control of the infected device. Initial infection occurs by inadvertently downloading the malware in other software that bypasses Android 13 and security protections, according to Threat Fabric. Once installed, Crocodilus requests accessibility service to be enabled, which enables the hackers to gain access to the device. “Once granted, the malware connects to the command-and-control (C2) server to receive instructions, including the list of target applications and the overlays to be used,” Threat Fabric said. Once installed, Crocodilus requests accessibility service to be enabled, granting hackers access to the device. Source: Threat FabricIt runs continuously, monitoring app launches and displaying overlays to intercept credentials. When a targeted banking or cryptocurrency app is opened, the fake overlay launches over the top and mutes the sound while the hackers take control of the device. “With stolen PII and credentials, threat actors can take full control of a victim’s device using built-in remote access, completing fraudulent transactions without detection,” Threat Fabric said. Threat Fabrix’s Mobile Threat Intelligence team has found the malware targets users in Turkey and Spain but said the scope of use will likely broaden over time. Related: Beware of ‘cracked’ TradingView — it’s a crypto-stealing trojanThey also speculate the developers could speak Turkish, based on the notes in the code, and added that a threat actor known as Sybra or another hacker testing out new software could be behind the malware. “The emergence of the Crocodilus mobile banking Trojan marks a significant escalation in the sophistication and threat level posed by modern malware.” “With its advanced Device-Takeover capabilities, remote control features, and the deployment of black overlay attacks from its earliest iterations, Crocodilus demonstrates a level of maturity uncommon in newly discovered threats,” Threat Fabric added. Magazine: Ridiculous ‘Chinese Mint’ crypto scam, Japan dives into stablecoins: Asia Express
One in four S&P 500 firms will hold Bitcoin by 2030: Crypto advisory
Around a quarter of firms listed on the S&P 500 would have invested in Bitcoin by 2030, with treasury managers fearing they could lose their jobs if they missed out on potential Bitcoin gains, a partner at a tech-focused financial advisory firm said.“I anticipate that by 2030, a quarter of the S&P 500 will have BTC somewhere on their balance sheets as a long-term asset,” Elliot Chun, a partner at Architect Partners, said in a March 28 blog.Chun said this shift will be driven by treasury managers feeling compelled to at least experiment with Bitcoin (BTC).“If you tried it and it worked, you’re a genius. If you tried it and it didn’t work, you at least tried. But if you didn’t try and have no good reason, your job may be at risk.”Strategy (MSTR) is the largest corporate Bitcoin holder of all 89 public-traded firms that currently have Bitcoin on their balance sheets, according to data from BitcoinTreasuries.NET.One more firm could be added to the list after GameStop's $1.3 billion convertible notes offering on March 26, which the firm intends to use to buy its first batch of Bitcoin.Tesla and Block are the only S&P 500-listed firms that hold Bitcoin — meaning at least another 123 S&P 500 firms would need to invest in Bitcoin by 2030 for Chun’s prediction to be correct.The top 10 largest corporate Bitcoin holders. Source: BitcoinTreasuries.NETTech investors and execs expect Bitcoin to keep risingBitcoin could soar to the $500,000 to $1,000,000 range or even higher by 2030, according to the likes of ARK Invest CEO Cathie Wood, Galaxy Digital CEO Mike Novogratz, Coinbase CEO Brian Armstrong and Block CEO Jack Dorsey.Meanwhile, firms adopting Bitcoin treasury strategies have seen a positive impact on their share prices. Strategy, whose stock has surged over 2,000% since its first Bitcoin investment on Aug. 20, 2020 — massively outperforming Bitcoin (781.1%) and S&P 500 (64.8%) over that stretch.But there’s a big difference between firms that adopt Bitcoin for treasury diversification and risk management and those that restructure their entire business models to become the Bitcoin treasury leader within their industries, Chun said.“Companies who are implementing this strategy in hopes of replicating MSTR’s performance are positioning for disappointment,” said Chun, who referred to Strategy as a “one-of-one.”MSTR initially provided US asset managers exposure to Bitcoin at a time when they couldn’t hold Bitcoin directly. That changed when the Securities and Exchange Commission approved a handful of spot Bitcoin exchange-traded fund applications on Jan. 10, 2024.Related: Bitcoin-to-gold ratio breaks 12-year support as gold price hits a record $3KDespite the increased adoption, Bitcoin used as a treasury asset remains an “unproven strategy” for firms hoping it will hedge against US dollar and fiat inflation or diversify their treasury for risk management purposes, Chun said.That said, Bitcoin is still a more flexible treasury asset than gold, according to Chun, who pointed out the challenges in storing and moving gold bars.On the other hand, Bitcoin is a digital commodity that is GAAP-recognized as a tangible asset with a fungible and liquid profile, he added.Earlier this month, crypto asset manager Bitwise launched Bitwise Bitcoin Standard Corporations ETF on March 11, which seeks to track companies with at least 1,000 Bitcoin in their corporate treasuries.Magazine: Bitcoiner sex trap extortion? BTS firm’s blockchain disaster: Asia Express
Bitcoin falls to $81.5K as US stock futures sell-off in advance of Trump’s ‘Liberation Day’ tariffs
Bitcoin looks set for a bearish open to mark the last trading day of March and possibly the weakest Q1 performance since 2018. Crypto and stock traders’ anxiety over US President Donald Trump’s fresh wave of 25% tariffs on cars imported to the US, the threat of tariffs on the pharmaceutical industry is clearly reflected in BTC’s current downside. Trump’s frequent references to April 2 being “Liberation Day” (the day when an apparent number for “reciprocal tariffs” will be assigned to various countries) also has shaken traders’ confidence. At the time of publishing, stock futures have already slipped into the red, with the DOW futures shedding 206 points and the S&P 500 futures down 0.56%. As expected, Bitcoin's (BTC) price moved in tandem with equities markets, slipping to $81,656 on March 30 and locking in a 7th consecutive day of lower lows. US futures markets performance on March 30. Source: X / Spencer HakimianAfter a tumultuous quarter, equities markets look set to close down for the month, with the S&P 500 down 6.3% and the Nasdaq and DOW each registering 8.1% and 5.2% respective losses. Bitcoin’s steady decline is a combination of weak demand in spot markets and clear derisking from traders who are reluctant to open fresh positions in BTC’s futures markets. Last week’s core Personal Consumption Expenditures (PCE) data showed a higher-than-anticipated uptick in inflation, and March consumer confidence data from the Conference Board showed the monthly confidence index — a metric that reflects respondents’ expectation for income, business and job prospects — at a 12-year low. Consumer confidence present situation and future expectations data. Source: The Conference BoardRelated: Bitcoin bottom ‘likely’ at $80K, opening door for TON, CRO, MNT and RENDER to rallyRecession odds also continue to rise, with a recent report from Goldman Sachs raising the 12-month recession probability from their previous 20% to 35%. In the report, Goldman Sachs’ analysts said, “The upgrade from our previous 20% estimate reflects our lower growth beeline, the sharp recent deterioration in household and business confidence and statements from White House officials indicating greater willingness to tolerate near-term economic weakness in pursuit of their policies.” US recession odds raised by Goldman Sachs. Source: X / Peter BerezinDoes Bitcoin’s downside have a silver lining? While many crypto analysts have publicly revised their bullish six-figure-plus BTC price estimates and now forecast a revisit to Bitcoin’s swing lows in the mid $70,000 range, institutional investors continue to buy, and net inflows to the spot ETFs remain positive. On March 30, Strategy CEO Michael Saylor took to X and posted his famous orange dots Bitcoin chart, saying, “Needs even more Orange.” Strategy Bitcoin purchases. Source: X / Michael Saylor Data from CryptoQuant also shows Bitcoin inflows to accumulation addresses continuing to rise throughout the month. BTC: Inflows to accumulation addresses. Source: CryptoQuant This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Today in crypto, crypto industry professionals say US regulation must clarify banking and stablecoins before focusing on taxes, a video of Vitalik Buterin interacting with a robot has caught the crypto industry’s attention.Binance introduces CEX to DEX trades for better user experienceCrypto exchange Binance has introduced centralized exchange (CEX) to decentralized exchange (DEX) trading, eliminating the need for complicated asset bridging and cumbersome manual transfers.Binance Wallet users will now be able to use Circle's USDC (USDC) and other supported stablecoins to purchase tokens trading on the Ethereum, Base, Solana, and BNB Smart Chain networks.An online meme poking fun at the highly technical nature of crypto and the complex user experience. Source: Kev.ETHThe CEX to DEX feature creates a much-needed user experience overhaul, especially for those new to crypto, who may find bridging or manually transferring assets too technically complex and unapproachable.Additionally, the technical complexity inherent in crypto creates the potential for lost user funds and is one of the main barriers to crypto achieving mass adoption.Stablecoin rules needed in US before crypto tax reform, experts sayUnited States cryptocurrency regulations need more clarity on stablecoins and banking relationships before lawmakers prioritize tax reform, according to industry leaders and legal experts.“In my view, tax isn’t necessarily the priority for upgrading US crypto regulation,” according to Mattan Erder, general counsel at layer-3 decentralized blockchain network Orbs.A “tailored regulatory approach” for areas including securities laws and removing “obstacles in banking” is a priority for US lawmakers with “more upside” for the industry, Erder told Cointelegraph.“The new Trump administration is clearly all in on crypto and is taking steps that we could have only dreamed about a few years ago (including during his first term),” he said. “It seems likely that crypto regulation will be able to have it all and get much more clear and rational regulation in all areas, including tax.”Still, Erder noted there are limits to what President Donald Trump can accomplish through executive orders and regulatory agency action alone. “At some point, the laws themselves will need to change, and for that, he will need Congress,” he said.Trump’s March 7 executive order, which directed the government to establish a national Bitcoin reserve using crypto assets seized in criminal cases, was seen as a signal of growing federal support for digital assets.Vitalik Buterin meows at a robot, and the crypto world loses itA video of Ethereum co-founder Vitalik Buterin kneeling in front of a robot and seemingly letting out a “meow” sound has gone viral — and, as usual, the crypto industry is already speculating what it might mean for Ether’s future.“The future of Ethereum is in this man’s hands… Meow,” crypto influencer Wendy O said in a March 29 X post. Cork Protocol co-founder Phil Fogel shared the video and commented that “so much” of his professional life and net worth depend on Buterin but reiterated that the entertaining interaction makes him “bullish.”Source: RinorPseudonymous crypto trader Scott Crypto Warrior shared the video with his 514,300 X followers and said, “Pray for our ETH bags.” The short clip shows Buterin on his knees, gesturing at a four-legged robot and letting out what sounds like a “meow” before patting it on the head. At the time of publication, Buterin has yet to address the video on social media himself.
Centralization and the dark side of asset tokenization — MEXC exec
Tracy Jin, the chief operating officer at the MEXC crypto exchange, warns that tokenizing real-world assets (RWAs) carries a substantial amount of centralized risks that can lead to censorship, liquidity issues, legal uncertainty, cybersecurity problems, and asset confiscation through state or third-party intermediaries.In an interview with Cointelegraph, the executive said that as long as tokenized assets remain under the purview of state regulators and centralized intermediaries, then "tokenization will simply be a new version of old financial infrastructure and not a financial revolution." Jin added:"Most tokenized assets will be issued on permissioned or semi-centralized blockchains. This gives authorities the power to issue restrictions or confiscate assets. The tokenization of assets such as real estate or bonds is still tied to the national legal system.""If the property or company behind the token is local, in a country with an unstable legal environment or high political volatility, the risk of confiscation increases," the executive continued.RWA tokenization is projected to become a multi-trillion sector in the next decade as the world's assets come onchain, which will increase the velocity of money and extend the reach of capital markets worldwide.The total market cap of the RWA sector. Source: RWA.XYZRelated: Dubai Land Department begins real estate tokenization projectEstimates of the future RWA market differ dramaticallyTokenized real-world assets include stocks, bonds, real estate, intellectual property rights, energy, art, private credit, debt instruments, fiat currency, commodities, and collectibles.According to RWA.XYZ, there are currently over $19.6 billion in tokenized real-world assets onchain, excluding the stablecoin sector, which surpassed a $200 billion market cap in December 2024.A research report from Tren Finance polled large financial institutions including Citi, Standard Chartered, and McKinsey & Company; the report found that the participants predicted the RWA market to reach anywhere between $4 trillion to $30 trillion by 2030.Financial institutions provide different forecasts for the future of the tokenized RWA market. Source: Tren FinanceMcKinsey & Company predicted the RWA sector will encompass between $2 trillion to $4 trillion by 2030 — a relatively modest assessment compared to other forecasts.Meanwhile, institutions like Standard Chartered and executives at the blockchain network Polygon say that the RWA market will reach $30 trillion in the next decade.Magazine: Real-life yield farming: How tokenization is transforming lives in Africa
