Bitcoin is sliding toward $64,000 as the US-Iran war enters another week, with Iran’s closure of the Strait of Hormuz rattling bond markets and pushing oil past $104. March is shaping up to be Bitcoin’s sixth straight losing month.
On a brighter note, Tether has brought in KPMG for its first-ever full audit, a major transparency move ahead of tightening US stablecoin rules. Meanwhile, Morgan Stanley is on the verge of launching its own spot Bitcoin ETF.
All this and more in this week’s recap; keep reading for the full breakdown.
Chiliz Breaks Multi-Year Downtrend Ahead of FIFA World Cup
CHZ surged 15.5% to $0.0406, clearing key moving averages on nearly doubled trading volume, a breakout analysts say signals a structural shift, not just a bounce. With the FIFA World Cup roughly 80 days out and 70+ sports organisations building on its blockchain, one analyst sees a potential 900% upside toward $0.40.
Silver Slides 42% as War and Stagflation Fears Pile On
Silver has plunged from $121 to $70 this year, with major ETFs like SLV shedding over $2.57 billion in assets. Rising inflation, slowing global growth, and the ongoing US-Iran war are all weighing on prices. Technically, a bearish pennant points to further downside, though a double-bottom pattern offers some hope.
Bitcoin Slides to $66K as War Fears and Weak Technicals Point to Further Losses
Bitcoin fell to $66,000 as escalating Middle East tensions pushed investors out of risk assets, dragging stocks and crypto down together. Oil surged to $104, bond yields climbed, and analyst Peter Brandt warned BTC could drop to $50,000, citing a bearish flag pattern on the charts.
U.S. Court Sidesteps Key Question on Crypto Software Regulation
A Texas federal court dismissed a lawsuit seeking clarity on whether non-custodial crypto software falls under money transmission laws, not on the merits, but because the developer couldn’t prove a credible threat of enforcement. The core legal question remains unanswered, leaving developers in regulatory limbo.
Brazil Passes Law Letting Authorities Seize and Spend Criminal Crypto
Brazil has signed a law giving judges the power to freeze, seize, and liquidate Bitcoin linked to criminal activity, without prior notice to suspects. Confiscated crypto gets converted into reais and funneled into public safety budgets, effectively turning crime-linked digital assets into funding for law enforcement operations.
Tether Hires KPMG for First Full Audit as U.S. Push Intensifies
Tether has engaged KPMG to conduct its first full financial audit, covering roughly $185 billion in reserves backing USDT. The move goes well beyond previous attestations and comes as new U.S. stablecoin legislation raises compliance standards. A clean result could significantly boost institutional confidence in the world’s largest stablecoin.
White House Adds Crypto Heavyweights as CLARITY Act Heads Toward Senate Vote
Marc Andreessen and Coinbase co-founder Fred Ehrsam have joined the White House’s top tech advisory council as Congress prepares to revisit the CLARITY Act. The bill’s fate hinges on stablecoin yield restrictions, a sticking point that split the industry in January and remains unresolved ahead of April’s Senate markup.
Congress Moves to Ban Officials From Betting on Their Own Decisions
A bipartisan House bill, the PREDICT Act, would bar senior US officials, including the president, members of Congress, and their families, from wagering on prediction markets tied to politics or policy. Violators would face a 10% civil fine and forfeit all profits to the Treasury.
Chainlink Drops 3% as Market Sell-Off Overshadows Coinbase Partnership
Chainlink fell to $9.08 on Thursday, caught in a broad crypto retreat despite a major Coinbase integration announcement. Whale wallets hit a three-month high, and LINK ETFs show zero outflow days, but technicals remain bearish: every moving average signals a sell, with $8.60 as the next key support.
Morgan Stanley Set to Launch Its Own Bitcoin ETF
Morgan Stanley is close to launching MSBT, its own spot Bitcoin ETF on NYSE Arca, with NYSE filing a listing notice, a step analysts call “imminent.” Coinbase Custody will hold Bitcoin, BNY Mellon will handle cash administration, and the bank’s fee must match BlackRock’s and Fidelity’s 0.25% benchmark. SEC approval is the final hurdle.
Franklin Templeton Brings Tokenized ETFs to Crypto Wallets via Ondo Finance
Franklin Templeton, which manages $1.7 trillion in assets, has partnered with Ondo Finance to offer tokenized ETFs via crypto wallets. Ondo will purchase five Franklin ETFs and issue tokens giving investors exposure to returns. The deal reflects the accelerating push into real-world asset tokenization, now a $15 billion market.
Senator Warren Grills MrBeast Over Teen Finance App
Senator Elizabeth Warren has written to MrBeast’s Beast Industries demanding answers about Step, a teen financial app it recently acquired. Warren flagged Step’s past crypto and NFT marketing to minors, concerns about its banking partner, Evolve Bank, and its potential depositor risks, giving the company until April 3 to respond.
SIREN Coin Doubles Overnight, But Red Flags Stack Up
SIREN token surged 106% in 24 hours, briefly hitting a $2 billion market cap, but the rally looks shaky. A single wallet cluster controls nearly half the supply and just withdrew 484 million tokens from a vesting contract. On-chain links to DWF Labs raise concerns about manipulation, and an RSI of 80 signals the move is severely overbought.
Cardano Bounces 6% as Midnight Launch and Hard Fork Approach
Cardano climbed nearly 6% to $0.2648, buoyed by the imminent Midnight privacy sidechain launch and the Van Rossem hard fork, both expected before March ends. ADA’s MVRV ratio sits at -43%, a historically strong accumulation zone, while record short positioning on Binance adds further fuel to a potential squeeze.
Gemini Stock Nears Penny Territory as Losses Mount
Gemini’s stock has collapsed from $46 to under $6 since its IPO, with analysts warning it could fall below $5. The exchange posted a $582 million net loss last year, faces rising competition from platforms such as Hyperliquid and Polymarket, and is withdrawing from several international markets.
XRP’s Rally Is a Retail Story: Institutions Aren’t Buying In
Research firm 10x Research says retail traders are driving XRP’s gains, with 5.66 million small wallets flagged as evidence of grassroots activity. Institutions, meanwhile, are sticking with Solana and Ethereum. XRP ETFs pulled in just $0.6 million in inflows, compared with $20 million for Solana, leaving the rally’s staying power in question.
