Crypto World
Wells Fargo Files Trademark for ‘WFUSD,’ Signaling Stablecoin Ambitions
While the bank has yet to confirm its plans, the move could mark a first step toward launching its own USD stablecoin.
Wells Fargo has quietly filed a trademark application with the U.S. Patent and Trademark Office for the ticker “WFUSD,” per a filing dated March 10.
The trademark covers cryptocurrency exchange services, blockchain-based payment verification, crypto hardware wallets, and software for accessing NFTs on-chain, among a slew of other goods and services.
While Wells Fargo has yet to publicly confirm its plans for the trademark, the ticker closely mirrors established naming conventions for stablecoins tickers, strongly suggesting the $1.9 trillion-asset bank is laying the groundwork for its own dollar-pegged digital currency.
The WFUSD filing arrives in the wake of broader Wall Street stablecoin ambitions. As The Defiant reported, last May, companies co-owned by Wells Fargo, JPMorgan Chase, Bank of America, Citigroup, and other large banks — including Zelle operator Early Warning Services and real-time payment network The Clearing House — were considering launching a joint stablecoin, reportedly “intended to fend off escalating competition from the cryptocurrency industry.”
As far back as 2022, Wells Fargo was also part of a group of big U.S. banks exploring integrating blockchain tech for connecting deposits, as The Defiant reported at the time.
Since then, Citigroup CEO Jane Fraser publicly confirmed the bank is evaluating its own proprietary token, telling analysts on a Q2 2025 earnings call that “we are looking at the issuance of a Citi stablecoin,” per The Defiant.
The pressure to act is only mounting. In December, U.S. neobank SoFi unveiled SoFiUSD, making SoFi the first U.S. national bank to release an “open access” stablecoin on a public blockchain — Ethereum — backed 1:1 by cash reserves held in its Federal bank account.
SoFi has since inked a partnership with Mastercard to use SoFiUSD across its global payments network.
Whether WFUSD represents Wells Fargo going it alone or hedging its bets ahead of the consortium effort remains unclear.
The stablecoin sector grew by over $100 billion in 2025 alone. Acording to data from DefiLlama, total stablecoin circulating supply currently stands at $314.7 billion. As The Defiant reported, that figure was near $310 billion as of just mid-December 2025 — up more than 50% from roughly $205 billion at the start of the year.
This article was generated with the assistance of AI workflows.
TLDR:
- The 20 millionth Bitcoin was mined; only one million remain to enter circulation over 100+ years.
- Bitcoin’s halving mechanism gradually slows new coin creation, ensuring predictable scarcity.
- Mining secures the network, while future transaction fees will sustain miner incentives.
- Bitcoin’s decentralized, inflation-resistant design continues to attract global investors.
Bitcoin’s 20 million mined marks a historic milestone as the network reaches over 20 million coins. Only one million remain to be mined, reinforcing Bitcoin’s scarcity, decentralized structure, and long-term inflation-proof economic design in global finance.
Mining Milestone Highlights Scarcity
Bitcoin reached a new stage as the 20 millionth coin was mined, leaving only one million coins yet to enter circulation.
Brian Armstrong, CEO of Coinbase, highlighted the milestone on X, noting the remaining coins will take over 100 years to mine.
Mining remains the core process of Bitcoin’s issuance. Miners validate transactions and secure the network while receiving newly minted coins as rewards.
When Bitcoin launched in 2009, the block reward was 50 BTC. The halving mechanism reduces rewards approximately every four years.
The latest reduction brought the block reward to 3.125 BTC, significantly slowing the creation of new coins. This ensures Bitcoin approaches its 21 million cap gradually, maintaining predictable scarcity.
Mining also supports network security. Over time, transaction fees are expected to replace block rewards as the primary incentive for miners.
This allows the network to remain decentralized and functional even after all coins are mined.
Decentralized, Inflation-Resistant Money
Bitcoin’s fixed supply positions it as an inflation-resistant asset. Unlike fiat currencies, which can be printed at will, Bitcoin’s 21 million maximum ensures it remains scarce and predictable over time.
Global interest continues to grow. Institutions, corporations, and individual investors are increasingly recognizing Bitcoin as a decentralized, inflation-proof store of value.
The milestone reinforces its long-term economic design and transparency. The remaining one million coins will enter circulation slowly due to halving.
This controlled release preserves scarcity, while mining efficiency, hardware, and renewable energy use shape the network’s evolution. Brian Armstrong emphasizes Bitcoin’s role as global money, offering a decentralized alternative to traditional finance.
Bitcoin 20 Million Mined represents more than just a number; it reflects the asset’s scarcity, long-term value proposition, and unique design as decentralized, inflation-resistant money.
US-based prime brokers, financial institutions that provide services to hedge funds, are reportedly working to give their clients access to Kalshi’s event bets, with prediction markets booming over the past year.
According to a report from Bloomberg on Wednesday, executives from both Clear Street and Marex Group Plc confirmed that their firms expect to open up access to Kalshi’s prediction markets in the near future.
Clear Street, which is valued at over $12 billion, is expected to be the first of the two to make the jump, with CEO Ed Tilly stating that the firm expects its first Kalshi trade to clear in late March. Marex, valued at around $2.6 billion, plans to follow suit in the next few months.
Thomas Texier, Marex’s global clearing head, said they are seeing strong demand from large financial institutions that are looking for ways to tap into prediction markets.
“Over the last few weeks, we’ve seen very large hedge funds coming to us and saying, ‘Can you give us access to these markets?’” Texier said, adding that the firm is also interested in using prediction markets to hedge its own positions.
Kalshi CEO sees accelerating institutional adoption
In a post on LinkedIn on Wednesday, Kalshi CEO Tarek Mansour said institutional adoption will greatly accelerate in 2026 due to prediction markets’ utility in providing data on future events and investment hedging.
“This is no longer an early-adopter space – it is becoming a core pillar of the financial ecosystem, with billions flowing through weekly,” he said, adding:
“Institutions are increasingly using these markets to generate returns, hedge real-world risk, and understand what’s most likely to happen next. CNBC, CNN, Bloomberg, and Fox now regularly cite Kalshi markets alongside traditional market tickers.”
Clear Street’s CEO emphasized, however, that the firm is treading with caution amid a regulatory gray area for the prediction market space, alongside a host of lawsuits filed by state regulators across the US.
Related: Kalshi, Polymarket eye $20B valuations in potential fundraising: WSJ
The primary issues currently hanging over the industry are related to sports markets and whether or not they fall under the legal category of sports betting, and the potential for insider trading given the wide-reaching nature of markets offered on prediction market platforms.
Earlier this week, executives from major exchanges such as Nasdaq and CME called for regulatory clarity on prediction markets to support adoption in the US.
“Markets thrive when we have consistent regulation, and it allows investors, first of all, to be protected,” Nasdaq CEO Adena Friedman said at the FIA Global Cleared Markets Conference on Tuesday.
“We are going to the SEC, because the options markets are governed by the SEC, and we want to make sure that within the confines of the rule base that we operate in, we can create a construct that will work for investors,” she added.
The Commodities Futures Trading Commission is claiming to have primary oversight on the sector, while the Securities and Exchange Commission said it will also have a role to play.
Magazine: All 21 million Bitcoin is at risk from quantum computers
TLDR:
- Volkswagen to cut 50,000 jobs in Germany by 2030 following sharp profit decline.
- Chinese EV makers reduce Volkswagen’s market share in its most profitable region.
- Rising German energy and labor costs intensify pressure on Volkswagen operations.
- U.S. import tariffs add nearly €3bn in costs, impacting high-value German exports.
Volkswagen’s job cuts plan targets 50,000 positions in Germany by 2030 following a 44% drop in profits. The company faces intense competition from Chinese EV makers, rising energy costs, and U.S. import tariffs while transitioning toward electric vehicles.
Profit Decline and Cost Pressures
Volkswagen reported a net profit fall from €12.4 billion to €6.9 billion last year, representing a 44% decline. This marks the lowest post-tax profit since 2016, reflecting ongoing global market pressures.
The cuts will span the entire group, including Audi and Porsche, as the company focuses on efficiency. Chief executive Oliver Blume emphasized that operating conditions are now fundamentally different from previous years.
Finance chief Arno Antlitz stressed that the current profit margin is insufficient in the long term. Volkswagen aims to reduce costs rigorously while investing in software and electric vehicle technologies.
The company has already agreed with unions to cut over 35,000 jobs in a socially responsible manner. Executives estimate the restructuring will save €15 billion by 2030.
The remaining reductions are part of a broader strategy to maintain competitiveness amid declining profit margins and changing production dynamics.
Competition from China and EV Transition
China has historically been Volkswagen’s most profitable market. Domestic EV manufacturers like BYD now dominate with faster product cycles, competitive pricing, and strong technological integration.
Sales volumes for Volkswagen in China have declined as a result. Chinese EV makers are also entering European markets, increasing pressure on Volkswagen’s traditional base.
Electric vehicles require fewer components than combustion engine models, which reduces assembly complexity and the workforce needed.
Volkswagen’s focus on electrification has increased restructuring costs. Investments in battery production, software, and new EV models are substantial, making cost control essential.
These factors, combined with global market shifts, make workforce reductions unavoidable. Rising energy prices in Germany and high labor costs add further challenges.
Tariffs on U.S. imports also reduce competitiveness for German-produced vehicles. Volkswagen now faces the dual task of cutting costs while accelerating its transition to electric mobility to remain viable.
TLDR:
- Apparent demand remains negative, showing new supply exceeds market absorption for Bitcoin.
- CryptoQuant cycle indicators fall into deep bear territory despite price holding $65K–$75K.
- Long-Term Holder SOPR below 1 signals stress among historically strong investors.
- Sideways price action with fading rallies reflects a prolonged patience phase in the cycle.
Bitcoin mid-cycle consolidation is evident as on-chain metrics show weakening demand and investor fatigue. Apparent demand is negative, cycle indicators remain bearish, and long-term holder SOPR has slipped below 1, reflecting stress among historically resilient holders and sideways market behavior.
Apparent Demand Reflects Market Stagnation
Bitcoin mid-cycle consolidation is apparent through the behavior of apparent demand, an on-chain metric measuring how new supply is absorbed. It compares newly mined coins to changes in long-inactive supply entering circulation.
Positive readings indicate absorption, while negative readings suggest supply exceeds demand. Recent data shows mostly negative demand, with brief green spikes in late February failing to sustain.
This indicates that buyers are not consistently strong enough to maintain upward momentum. Such behavior is typical of mid-cycle consolidation, where early investors distribute holdings while new participants hesitate to buy at elevated prices.
Price action remains choppy, fluctuating between short rallies and pullbacks. Traders experience psychological strain as optimism during brief rallies is often followed by disappointment.
Markets show resilience despite negative demand, maintaining the $65K–$75K range, yet lacking sufficient capital inflow to trigger sustained upward trends.
Historical cycles indicate that these periods often precede renewed accumulation. The negative demand environment slowly tests investor patience, producing sideways movement rather than sharp corrections.
False breakouts and fading rallies become common during this stage, emphasizing the patience required to navigate consolidation.
Long-Term Holder SOPR Signals Growing Stress
Long-Term Holder SOPR measures whether holders sell at a profit or a loss, providing insight into market psychology. Recent readings show the 30-day EMA slipping below 1.0, signaling that even resilient holders are realizing losses.
This occurs during a mid-cycle compression phase where price stagnates and short-lived rallies fail to attract aggressive accumulation. The combination of negative apparent demand and SOPR below 1 reinforces market stagnation.
Price oscillates around the mid-$60K range, producing repeated false breakouts. Traders face uncertainty while long-term holders’ conviction is tested.
Coins gradually move from weaker hands to stronger holders, quietly setting the foundation for eventual accumulation once demand and confidence return.
This convergence of on-chain signals confirms Bitcoin is navigating a psychologically challenging mid-cycle consolidation, with patience as the primary tool for market participants.
Osmosis has proposed converting OSMO to ATOM and tightening Cosmos Hub integration, testing whether chain mergers can boost liquidity, governance, and valuations.
Summary
- Osmosis plan offers OSMO–ATOM conversion at a fixed rate over six months, with unclaimed ATOM returning to the Hub community pool.
- Proposal would bind Osmosis liquidity, security, and governance more tightly to Cosmos Hub, positioning ATOM as the primary base asset.
- The move sharpens Cosmos’ consolidation vs app‑chain sovereignty debate, putting OSMO and ATOM holders in control via governance votes.
Interoperable DEX Osmosis has put forward a sweeping proposal to convert OSMO into ATOM and migrate its core protocol more tightly into the Cosmos Hub, in one of the most aggressive consolidation moves yet seen in the Cosmos ecosystem. The plan would effectively bind Osmosis’s liquidity, security, and governance more directly to the Hub, while offering OSMO holders a time‑limited path into ATOM exposure.
Under the proposal, all circulating OSMO – excluding undeployed community pool tokens – could be converted to ATOM over a six‑month window at a fixed rate of 1.998 OSMO for 0.0355 ATOM. Holders who do not claim within that period would see the corresponding ATOM returned to the Cosmos Hub community pool, concentrating unclaimed value under Hub governance. The structure is explicitly designed to avoid permanent dangling liabilities, while forcing a clear decision from tokenholders on whether they want to align with the Hub or exit.
Strategically, the proposal aims to turn Osmosis from a largely independent app‑chain into a native liquidity engine for Cosmos Hub, potentially simplifying the stack for users and institutional players who view Cosmos as fragmented. By consolidating liquidity and security at the Hub layer, proponents argue that Cosmos can present a cleaner narrative to external capital: one core base asset (ATOM), one primary liquidity venue (Osmosis on Hub), and unified governance. For Osmosis, the move could widen its addressable user base if ATOM’s brand and distribution outweigh the loss of a standalone token.
The trade‑offs are significant. OSMO holders face dilution of protocol‑specific upside in exchange for broader ATOM exposure and tighter alignment with the Hub’s long‑term roadmap. Cosmos Hub, on the other hand, would be implicitly underwriting Osmosis’s future, importing not only its liquidity and fees but also its technical and governance risk. Success would push Cosmos further toward a “hub and spokes” model with ATOM at the center; failure would strengthen the case for app‑chain sovereignty over consolidation.
If passed, the proposal would mark a clear escalation in the ongoing debate over how Cosmos should compete with more monolithic ecosystems like Ethereum and Solana. It would also provide a live test of whether token conversions and protocol mergers can unlock higher valuations and deeper liquidity, or whether they simply shuffle risk and governance complexity from one balance sheet to another. For now, all eyes will be on how both OSMO and ATOM holders respond at the ballot box.
US-based prime brokers are quietly positioning themselves to give hedge funds and large institutions direct access to Kalshi’s prediction markets, a move that signals growing institutional interest in event-based betting markets. A Bloomberg report from March 11, 2026, indicates that Clear Street and Marex Group Plc are both lining up access for their clients in the near term. Clear Street, valued at over $12 billion, is expected to clear Kalshi trades as early as late March, while Marex, with a current valuation around $2.6 billion, plans a staged rollout over the coming months. The development underscores a broader shift as predictively driven markets gain traction among mainstream financial players, even amid regulatory ambiguity surrounding their legality and oversight.
Key takeaways
- Prime brokers plan to enable client access to Kalshi’s prediction markets within weeks, signaling rapid institutional onboarding.
- Kalshi’s leadership frames 2026 as a tipping point for institutional adoption, highlighting the market’s utility as data on future events and hedging tools.
- Hedge funds and other large institutions have begun approaching Kalshi contractors for direct market access, indicating a demand-driven expansion.
- Regulatory uncertainty remains a central hurdle, with debates over whether prediction markets fall under sports-betting rules and concerns about insider trading.
- Industry leaders, including Nasdaq and CME, are calling for clearer rules to support broader US adoption of prediction markets, signaling potential regulatory alignment or pathways forward.
Sentiment: Neutral
Market context: The push by prime brokers sits at the intersection of expanding interest in reputation-based forecasting markets and ongoing regulatory scrutiny. As major exchanges press for clarity, policymakers in the U.S. are weighing how prediction markets should be treated in relation to traditional securities and gaming rules, shaping the pace at which institutions can experiment with these platforms.
Why it matters
The entry of prime brokers into Kalshi’s ecosystem represents more than a new distribution channel. It signals a potential inflection point for prediction markets, where institutions view event outcomes as a tool for hedging risk, benchmarking forecasts, and generating returns. Kalshi’s CEO, in a LinkedIn post, has argued that institutional adoption will accelerate in 2026 as the market’s utility becomes clearer—citing the ability of these markets to provide data on future events and a framework for hedging real-world positions. This perspective aligns with broader industry narratives that such markets can function as a complementary data layer for traditional asset classes and macro strategies.
The practical appeal for institutions is twofold: first, the ability to hedge corporate or portfolio risk using event-based contracts; second, an opportunity to participate in markets that CNBC, CNN, Bloomberg, and Fox increasingly reference alongside conventional tickers. Yet, this enthusiasm exists within a regulatory gray zone, particularly around whether certain prediction market offerings resemble sports betting and how insider information may flow through these platforms. The tension between potential financial utility and compliance risk is a central theme shaping how quickly banks and brokers move from exploration to formalized access.
Industry participants have underscored that regulatory clarity is prerequisites for scalable adoption. Executives from Nasdaq and CME recently urged regulators to establish a clearer framework for prediction markets in the United States, arguing that consistent rules protect investors and foster market integrity. The CFTC has signaled its role in overseeing such markets, while the SEC has indicated it will also be involved in defining the boundaries for these instruments. The convergence of these regulatory positions will heavily influence whether institutional traction continues or stalls as cases and compliance questions proliferate across state and federal levels.
What to watch next
- Kalshi trade launches at Clear Street are expected in late March, with additional brokers like Marex rolling out in the ensuing months.
- Regulatory clarity on the classification of prediction markets—whether they fall under sports-betting or another regulatory category—will shape product design and participant eligibility.
- Key lawsuits and ongoing regulatory actions in the U.S. will test the resilience of prediction markets amid a landscape of diversified enforcement.
- Public statements from major exchanges and regulatory bodies, including updates from the CFTC and SEC, will indicate the pace of broader adoption and potential compliance requirements.
- Institutional hedging strategies using Kalshi and similar platforms may become more visible as fund managers assess risk-off and risk-on environments amid macro volatility.
Sources & verification
- Bloomberg report dated March 11, 2026, detailing prime brokers’ race to give Wall Street access to Kalshi’s prediction markets.
- LinkedIn post by Kalshi CEO Tarek Mansour discussing expected acceleration of institutional adoption in 2026 and the market’s broader utility.
- Reuters coverage of Nasdaq and CME executives calling for clearer rules to support prediction-market adoption in the U.S.
- Statements from the Nasdaq and CME discussions about regulatory alignment, and the CFTC/SEC roles in overseeing the sector.
- Related reporting mentioning Kalshi and Polymarket valuations and potential fundraising coverage in mainstream outlets.
Institutional access to Kalshi’s prediction markets gains momentum
Institutional appetite for prediction markets is expanding as prime brokers gear up to broaden access to Kalshi’s event-led contracts. The Bloomberg report paints a picture of late-March milestones for Clear Street, which is expected to clear the first Kalshi trade soon, and Marex, poised to follow in the coming months. The strategic move signals that major financial intermediaries view prediction markets not as speculative oddities but as components of a diversified risk management toolkit. In this view, there is a push to translate the insights from prediction markets into tradable risk-management signals for complex, multi-asset portfolios.
Kalshi’s leadership has framed 2026 as a turning point, arguing that the utility of prediction markets extends beyond speculation into practical data sources for forecasting and hedging. The company’s CEO, in a LinkedIn post, emphasized that institutional adoption will accelerate as more large players recognize the markets’ potential to quantify futures scenarios and hedge exposures. As he noted, the space is no longer an early-adopter niche but a core pillar of the financial ecosystem, with billions flowing weekly through these markets. This perspective is echoed by mainstream media outlets—CNBC, CNN, Bloomberg, and Fox—who regularly cite Kalshi alongside traditional market indicators, underscoring a shift in perception from novelty to necessity.
Nevertheless, the path forward is not without friction. Clear Street and Marex acknowledge a regulatory gray area surrounding prediction markets, alongside active litigation across the United States related to sports betting and other matters. Industry participants stress the importance of robust governance and clear rules to ensure investor protection and market integrity as adoption scales. The broader regulatory dialogue—pursued by exchanges and oversight bodies alike—aims to delineate permissible activities, address insider-trading concerns, and establish a stable framework within which institutions can transact with confidence.
In parallel, major exchanges have publicly called for regulatory clarity to facilitate US adoption. Nasdaq’s chief executive executive highlighted the need to bring options markets under a familiar rule framework, suggesting that a well-defined construct could enable investors to participate in a predictable regulatory environment. The SEC and CFTC have signaled their respective roles in overseeing emerging prediction-market activity, a development that could unlock more comprehensive product design while ensuring critical guardrails remain intact. The dynamic underscores a broader industry trend: practical finance increasingly sits at the intersection of regulatory alignment and innovative market structures, where data-driven decision-making and risk mitigation converge.
What it means for the market
For traders and investors, the potential mainstreaming of Kalshi and prediction markets offers an additional source of informational signals—complementing traditional data feeds with market-based expectations about future events. It may also prompt portfolio managers to incorporate event-based hedges into strategic plans, especially for scenarios with high impact on sectors or individual holdings. The regulatory dialogue surrounding these markets will be pivotal; a clear, harmonized framework could spur broader participation, elevate liquidity, and reduce friction for institutions seeking to deploy these instruments as part of diversified risk management strategies.
Stephen Gregory, a former compliance executive at CEX.IO and Gemini, has taken over as CEO of Binance.US, a crypto exchange that was once a target of a long-running SEC lawsuit.
Binance.US, the US affiliate of crypto exchange Binance, has named compliance lawyer Stephen Gregory as CEO as the company looks to re-expand in the country.
The company said on Wednesday that Gregory took over from former CEO Norman Reed on March 9, who will now serve in an advisory role.
Gregory is the former CEO of crypto exchange Currency.com and previously served as compliance chief and counsel at CEX.IO and as a compliance officer for Gemini.
“I am honored to lead the Binance.US team as we write the next chapter for the best platform for U.S. crypto investors,” Gregory said. “The Binance.US brand is extremely powerful, with a founder, Changpeng Zhao (CZ), who has continuously advocated to make the US the crypto capital of the world.”
Binance.US once sat in legal hot water for years after it was sued by the Securities and Exchange Commission in 2023, alleging it failed to register as an exchange, among other charges.
However, the SEC dismissed its case against the company with prejudice in May, adding to one of many crypto enforcement actions the agency has recanted under US President Donald Trump’s administration.
Binance.US hints at expanded offerings
It was also just over a year ago that Binance.US reinstated US dollar deposits and withdrawals after operating as a crypto-only exchange following the SEC lawsuit.
Related: Binance sues Wall Street Journal amid report of DOJ Iran probe
The past year has also seen the company launch products to expand its rewards and staking offering, as well as a referral program.
Binance.US said in its latest announcement that it plans to continue expanding its crypto staking product and will introduce services around decentralized finance and tokenized assets.
It follows other crypto exchanges that have begun to offer products outside of solely trading, offering digital assets tied to stocks and enticing customers with various ways to earn yield.
Magazine: When privacy and AML laws conflict — Crypto projects’ impossible choice
Ghana’s securities regulator has given the nod to 11 crypto trading platforms to participate in its new regulatory sandbox program, its first major step in support of crypto after passing a law to provide the local market with regulatory clarity in December.
Ghana’s Securities and Exchange Commission said on Tuesday that the 11 crypto platforms will operate under the country’s Virtual Asset Service Providers Act, adopted in December, which provides a regulatory sandbox framework for those companies to pilot their products and services in a controlled environment under the SEC’s oversight.
The companies admitted into the SEC’s regulatory sandbox are Africoin, Blu Penguin, Goldbod, Hanypay, Hyro Exchange, HSB Global, KoinKoin, Whitebits, Vaulta, XChain and Bsystem.
The sandbox program aims to spur crypto innovation while ensuring adequate consumer protection safeguards are in place. The participants will also need to comply with anti-money laundering and counter-terrorism financing standards.
The sandbox will last for 12 months, though companies that show market readiness and comply with all regulatory requirements can transition to a full license after six months.
Ghana said lessons from the pilot will shape the country’s future policies for the crypto market.
The VASP law stated that digital asset activities would fall under the SEC’s oversight and that industry players need to obtain a license or register with the Bank of Ghana or the SEC to operate in the country.
Foreign crypto companies are expanding into Ghana too
The new pilot comes after Blockchain.com said on Monday that it has expanded into Ghana as part of a push to broaden its presence in Africa.
A Blockchain.com spokesperson told Cointelegraph at the time that it would focus on expanding Ghana’s crypto payments infrastructure.
“Given how widely used mobile money is in Ghana, integration with the mobile money ecosystem is a key focus,” they said.
Related: Africa records highest stablecoin conversion spreads, data shows
Ghana is one of the larger economies on the African continent, which sees a high rate of crypto transactions under $1,000.
Crypto value received across the Sub-Saharan African region rose 52% year-on-year to over $205 billion between July 2024 and June 2025, blockchain analytics platform Chainalysis reported in September.
Nigeria dominates crypto activity, receiving over $92 billion over that period, while South Africa, Ethiopia, Kenya, and Ghana are the next-largest markets in the region.
Magazine: A ‘tsunami’ of wealth is headed for crypto: Nansen’s Alex Svanevik
Strive Asset Management (ASST) said Wednesday it has allocated $50 million of its corporate treasury to STRC, the variable-rate perpetual preferred stock issued by Strategy.
The investment represents more than one-third of Strive’s treasury reserves and reflects growing institutional interest in yield-generating securities linked to Bitcoin-focused treasury strategies, according to a company announcement.
The allocation makes Strive the latest company to add STRC to its balance sheet, following similar moves by companies including Prevalon Energy, Anchorage Digital and Oranjebtc, according to Strategy.
The development comes as Wall Street analysts begin covering companies built around Bitcoin treasury strategies. On Monday, investment bank B. Riley Securities initiated coverage of Strategy (MSTR) with a Buy rating, signaling expectations that the stock could outperform the broader market.
Strategy’s Nasdaq-traded STRC pays a floating dividend and trades publicly, allowing companies to hold it as a liquid treasury asset rather than cash or money market funds.
Data from Strategy’s dashboard shows STRC trading around $100, with a market capitalization of about $3.85 billion and around $90.6 million in daily trading volume. The variable dividend is currently at 11.5%.
“Many institutions maintain USD reserves as a buffer for dividend obligations and operational liquidity,” said Matt Cole, chairman and CEO of Strive, adding that allocating a portion of those reserves to instruments such as STRC may provide stronger yield dynamics than traditional money market funds while maintaining liquidity.
Strive is a structured finance company and asset manager that holds about 13,311 Bitcoin, ranking it as the 11th-largest corporate Bitcoin treasury, according to BitcoinTreasuries.NET data. The company’s Nasdaq-listed shares were up about 3.5% at last look on Wednesday.
Related: Strategy buys $1.3B in Bitcoin as holdings top 738,000 BTC
Inside Strategy’s ‘digital credit’ model and the STRC preferred stock
STRC is part of a category Strategy calls “digital credit,” securities designed to generate yield while allowing the company to raise capital linked to its Bitcoin treasury strategy.
Strategy raised about $2.5 billion in a July 2025 initial public offering of the preferred shares.
Strive’s $50 million purchase comes a day after Strategy recorded its largest issuance of STRC following changes to its at-the-market share sales program. The update allows a second sales agent to execute share sales outside regular US trading hours, easing a previous restriction that limited the program to one agent per trading day.
Data from STRC.live shows the company sold roughly 2.4 million STRC shares in a single day, with proceeds estimated to have funded the purchase of about 1,420 Bitcoin.
Strive has also issued its own digital credit instrument, SATA, a variable-rate perpetual preferred stock designed to generate floating yields tied to the company’s Bitcoin-per-share growth.
The shares, which launched in November 2025, currently offer yields of about 13% and have a market capitalization of roughly $319 million.
Magazine: All 21 million Bitcoin is at risk from quantum computers
The crypto market showed a muted reaction after US CPI data held at 2.4%, leaving investors watching Federal Reserve policy and Bitcoin price levels.
Summary
- US CPI held at 2.4% in February, matching forecasts and indicating easing inflation.
- The crypto market reaction remained muted, with Bitcoin stabilizing near $69K.
- Rate expectations remain steady as prediction platforms like Polymarket and Kalshi show low odds of near-term cuts.
The latest inflation data from the United States landed almost exactly where economists expected. February’s Consumer Price Index showed 2.4% annual inflation The report suggests price pressures are cooling, though not disappearing entirely.
The data was released by the U.S. Bureau of Labor Statistics on March 11. On a monthly basis, CPI rose 0.3%, slightly higher than January’s 0.2% increase. Core CPI, which excludes food and energy, increased 0.2% for the month and 2.5% year-over-year.
This is the lowest headline CPI reading since May 2025. Despite recent oil price swings linked to geopolitical tensions in the Middle East, inflation appears to be easing gradually.
Crypto market reaction remains muted
The crypto market reacted calmly after the report. Bitcoin (BTC) briefly dipped below $69,000 before recovering to around $69,500. The move was short-lived, and prices stabilized quickly.
Other major assets followed a similar pattern. Ethereum (ETH) and several large altcoins posted small gains or losses, while overall crypto market capitalization stayed relatively steady.
Inflation data often affects crypto indirectly. When inflation slows, markets tend to expect easier monetary policy from the Federal Reserve. Lower interest rates usually support risk assets such as cryptocurrencies because borrowing becomes cheaper and liquidity improves.
However, the latest CPI reading did not strongly shift expectations. Investors already expected a similar result, which limited the market reaction.
Interest rate outlook and market direction
The Federal Reserve is now widely expected to keep interest rates unchanged at its upcoming March meeting. Current projections place the federal funds rate in a 3.5% to 3.75% range, with markets assigning very low odds to an immediate rate cut.
Because of that, the crypto market may remain in consolidation mode in the short term. Analysts expect Bitcoin to trade between $65,000 and $72,000 while investors wait for clearer signals from macroeconomic data.
A break above the $72,000 resistance zone could re-open the path toward higher levels if liquidity improves and investor sentiment turns more positive. On the downside, renewed geopolitical stress or stronger inflation data could push prices back toward the $60,000 range.
Looking ahead, the next CPI report will be closely watched. Some forecasts suggest inflation could edge higher in March, potentially reaching 2.6% to 2.9%, partly due to energy price pressures.
For now, the crypto market appears to be in a holding pattern. Inflation is easing slowly, interest rates remain high, and traders are waiting for a stronger signal before placing bigger bets on the next move.
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