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Michael Saylor missed out on a $33 billion profit at Strategy

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Michael Saylor missed out on a $33 billion profit at Strategy

Strategy (formerly MicroStrategy) managed to turn an unrealized bitcoin (BTC) profit of $32.6 billion into a $2.2 billion loss thanks to founder Michael Saylor’s reluctance to sell.

To be specific, four months ago on October 6, the company owned 640,031 BTC acquired for $73,983 apiece but worth $125,000 apiece at prevailing market prices.

As of yesterday’s Nasdaq close, however, Strategy now owns 713,502 BTC acquired for $76,052 and worth just $72,925.

In other words, Strategy had an unrealized BTC profit of $32.6 billion on October 6 that has turned into a $2.2 billion loss.

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Even excluding the last four months of purchases to restrict yesterday’s figure to the original 640,031 BTC, that still recalculates to an equally embarrassing swing from a $32.6 billion profit to a $670 million loss on only the BTC the company owned four months ago.

Read more: Michael Saylor is running out of ways to boost Strategy’s BTC per share

New lows across multiple metrics

Management’s choice to not sell means Strategy’s balance sheet has $33 billion less in assets than it could have, less capital gains tax.

This figure also ignores the effects on BTC’s price of Strategy selling such large sums.

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As of yesterday’s close, the company’s common stock MSTR had a market capitalization of just 0.82x the value of the company’s BTC holdings — down 75% from its November 2024 high of 3.4x.

In addition to a 76% loss since its November 2024 high, including its latest 52-week decline of 61%, Strategy leadership has also failed to capture those tens of billions of dollars of investment income along the way.

It might seem tempting, given these losses, to point to a reminder of Saylor’s previously devout and confident proclamations that he never intended to sell Strategy’s BTC.

Unfortunately, he did say those things in the distant past, but even that promise has been deteriorating along with most other metrics at Strategy.

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Indeed, Saylor now discusses the possibility of selling Strategy’s BTC, including official statements from the company and its CEO, albeit in euphemisms such as raising capital or covering dividend obligations.

Moreover, the company recently diluted equity holders for $1.44 billion with $0 in associated BTC purchases in order to shore up USD, not BTC, for a rainy day. That day might be arriving soon.

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GitHub phishing scam uses OpenClaw branding to lure developers into wallet drain: report

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GitHub phishing scam uses OpenClaw branding to lure developers into wallet drain: report

Crypto scammers are using OpenClaw’s popularity to target developers via a new GitHub phishing campaign designed to drain their crypto wallets.

Summary

  • Attackers are impersonating OpenClaw on GitHub, creating fake accounts and tagging developers with messages offering $5,000 in $CLAW tokens.
  • Victims are directed to a cloned website where a malicious wallet connection prompt is used to trigger wallet draining.
  • OX Security says the campaign uses obfuscated code and targeted tactics, though no confirmed victims have been reported so far.

A report published by platform OX Security detailed an active phishing campaign targeting OpenClaw via a coordinated effort on GitHub, where attackers create fake accounts, open issue threads in attacker-controlled repositories, and tag dozens of developers.

One such post detailed how developers were approached with messages claiming they had been selected for an OpenClaw allocation, telling them they had won $5,000 worth of $CLAW tokens, and subsequently directing them to a fake website that closely resembles openclaw.ai.

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On the website, victims are presented with the option of connecting their wallets through a malicious “Connect your wallet” prompt that eventually leads to wallet draining.

The campaign has surfaced as OpenClaw has become a more visible project, especially after OpenAI CEO Sam Altman announced that OpenClaw creator Peter Steinberger would lead its push into personal AI agents. OpenClaw has since transitioned into a foundation-run open source project.

Researchers at OX Security said attackers may be using GitHub’s star feature to identify users who have starred OpenClaw-related repositories, thereby making it appear more targeted and credible.

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Scammers were seen using a file named “eleven.js” to embed wallet-stealing code within obfuscated JavaScript. Once triggered, scammers used a built-in “nuke” function that wipes traces from the browser’s local storage to avoid detection and continue tracking activity.

The malware tracks user actions via commands such as PromptTx, Approved, and Declined, sending encoded data, including wallet addresses and transaction values, to a command and control server.

Researchers have identified at least one wallet address believed to be linked to the attackers that was used to receive stolen funds. So far, there has been no confirmation of victims.

OX Security has urged users to block token-claw[.]xyz and watery-compost[.]today, and avoid connecting crypto wallets to newly surfaced or unverified sites.

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In the meantime, OpenClaw creator Peter Steinberger has enforced a strict anti-crypto policy. Any mention of cryptocurrencies across the project’s Discord server can lead to removal.

The decision stems from a scam that surfaced during its rebrand, where attackers promoted a Solana-based token called $CLAWD that surged to approximately $16 million in market capitalization before falling over 90% after Steinberger denied any involvement.

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Nasun: Powering the Next Digital Universe

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Nasun: Powering the Next Digital Universe

There are blockchain projects… and then there are ecosystems trying to rebuild entire industries from scratch.
Nasun falls firmly into the second category—and it’s not being subtle about it.

Built as a Move-based Layer-1, Nasun isn’t chasing trends. It’s engineering a unified foundation where finance, artificial intelligence, and entertainment don’t just coexist—they reinforce each other.

And unlike the usual “coming soon” promises?
Nasun already has three live pillars advancing the vision: Pado, Baram, and Gen Sol.

The Big Idea: One Network, Three Power Engines

Nasun isn’t a single product—it’s a coordinated system:

  • 💸 Pado → A unified DeFi super-platform

  • 🧠 Baram → Auditable AI execution and settlement layer

  • 🎬 Gen Sol → A cinematic sci-fi universe with games, films, and IP expansion

Together, they form something rare in Web3: a vertically integrated ecosystem with real usage across multiple industries.

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The Strategic Edge: Why South Korea Matters

Nasun is building from a highly intentional launch point: South Korea.

  • Over 16 million crypto users

  • Around $70 billion in digital assets are held

  • Yet… no Korean-native decentralized trading venue

  • And no compliant self-custody infrastructure

That’s not a small gap—it’s a massive, underserved market.
Nasun isn’t just entering the space. It’s targeting a clear, high-value vacuum.

Let’s be honest—modern DeFi feels like juggling knives while blindfolded.

Multiple wallets. Scattered liquidity. Endless tab-switching.
It’s powerful… but inefficient.

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Pado flips the entire experience on its head.

The Core Breakthrough: One Account, One Risk Engine

Instead of splitting your funds across protocols, Pado gives you:

  • One unified onchain account

  • Shared collateral across all positions

  • A single risk engine evaluating your entire portfolio

No more:

Everything lives in one place—and actually works together.

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What Makes Pado Different?

🔹 Portfolio-Level Risk

Your entire financial state is evaluated holistically, not per app.
Translation: smarter capital usage, fewer nasty surprises.

🔹 Deterministic Risk Enforcement

No shady liquidations. No hidden rules.
Just transparent, onchain logic applied equally to everyone.

🔹 Yield on Collateral

Your funds don’t sit idle.
They earn yield while actively backing trades—a feature usually reserved for centralized exchanges.

Performance Meets Precision

Powered by Nasun’s parallel execution Layer-1, Pado delivers:

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  • Sub-second finality

  • Cross-margin across spot, perps, and prediction markets

  • Protocol-native conditional orders (TP/SL, trailing stops)

And yes—no duct-taped off-chain systems.

AI + Social = Execution That Actually Moves Fast

Pado doesn’t stop at trading.

AI Intent Solvers

Instead of clicking through complexity, you just express intent:

“Open a hedged position with minimal risk”

AI agents handle the execution across markets.

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Embedded Social Layer

It’s as if trading platforms and social media had a very productive child.

Everything in One Place

Inside Pado, you already get:

  • Spot Trading (CLOB orderbook + advanced charts)

  • Perpetual Futures (up to 20x leverage)

  • Prediction Markets (event-based trading)

  • Weekly Lottery (onchain randomness)

And coming soon:

Baram: AI You Can Actually Trust

Here’s the uncomfortable truth:
Most AI systems today are black boxes.

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Baram changes that.

The Promise: Fully Auditable AI Execution

Every action in Baram is:

  • Authorized

  • Executed

  • Settled

  • Traced

No ambiguity. No hidden processes.

Built for Trust (Not Just Marketing)

Hardware-Level Privacy

Escrow-Based Payments

Stake-Based Accountability

  • Executors stake NSN

  • Misbehavior = slashing

Immutable Audit Trail

Every AI action creates a permanent, onchain record

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Why This Matters

Baram isn’t just for devs—it’s for:

  • Enterprises needing compliance

  • Regulators demanding transparency

  • Builders who want provable AI execution

It’s AI that doesn’t say “trust me.”
It says: “verify everything.”

Gen Sol: Web3 Entertainment That Actually Feels Alive

Most Web3 entertainment projects feel like tech demos with lore taped on.

Gen Sol does the opposite.
It starts with a story first—and builds everything around it.

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A Living Sci-Fi Universe

Gen Sol spans:

  • Feature films

  • Streaming series

  • Multiplayer games

  • Merchandise

All connected through one cohesive narrative universe.

At the center of it all?
Spectra—a powerful, dangerous resource that fuels the galaxy… and everyone’s obsession.

SPECTRA: The Game

A multiplayer PvP shooter built in Unreal Engine with a brutal core loop:

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Crash. Compete. Escape… or die.

  • Teams fight to collect Spectra

  • The environment actively tries to kill everyone

  • More loot = higher rewards… but slower escape

It’s not just about winning fights.
It’s about managing risk under pressure—a theme that perfectly mirrors Pado.

Why Gen Sol Works

Because people don’t just invest in tokens.

They invest in:

Gen Sol creates emotional attachment, which fuels:

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  • Engagement

  • Merchandising

  • Cross-platform expansion

This is how Web3 IP becomes mainstream IP.

The Real Take: Why Nasun Stands Out

Most projects pick a lane.

Nasun picked three and built bridges between them.

  • Finance feeds liquidity into the ecosystem

  • AI automates and secures execution

  • Entertainment drives user engagement and culture

It’s not just a stack.
It’s a flywheel.

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Final Thought

Nasun isn’t trying to be another DeFi app, AI tool, or gaming platform.

It aims to become the infrastructure layer that integrates all three industries.

Ambitious? Absolutely.
But for once, the architecture actually backs the vision.

And if it works…

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You’re not just looking at a new blockchain.

You’re looking at a new digital economy blueprint.

Nasun Network Official

Website | X(Twitter) | Telegram

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Crypto Markets Tank $100B Amid Hawkish Fed Projections

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Analysts Explain Why BTC Just Crashed to $65K and Where the Bottom Lies


Crypto markets have wiped out recent gains amid hawkish sentiment from the US central bank.

Total market capitalization has declined by almost $100 billion in less than 24 hours before and after the Federal Reserve’s meeting on Wednesday. The metric is now at around $2.52 trillion after falling from just below a six-week high of $2.61 trillion on Wednesday.

Over the past 24 hours, around 136,000 traders were wrecked, with total liquidations coming in at $452 million. The majority, or around 85% of them, were leveraged long positions in Bitcoin.

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The big slump has sent markets back towards the middle of their six-week range-bound channel, wiping out most of the gains from the recent rally.

Hawkish Fed Rattles Traders

The dump began before the meeting but continued after Fed chair Jerome Powell’s comments that there may only be one rate cut this year. The US central bank kept rates the same at 3.5% to 3.75% in a widely expected move yesterday.

Fed policymakers maintained their forecast for an additional rate cut this year, but Powell suggested that the central bank remains concerned about stubbornly elevated inflation even before the conflict’s impact on fuel prices, reported the Associated Press.

“The rate forecast is conditional on the performance of the economy, so if we don’t see that progress, then you won’t see the rate cut,” Powell said.

“FOMC events act as volatility catalysts, but their impact depends on the underlying risk regime,” stated Swissblock on Thursday, adding, “In high-risk environments, FOMC days tend to trigger rejection or accelerate downside.”

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Rate decisions tend to “amplify the existing regime,” they added, explaining that the current regime is “transitioning toward low risk, but it is not fully confirmed yet.”

“That means FOMC can still trigger volatility, but in the end, Bitcoin depends more on its own internal strength, flow, and momentum than on macro events alone.”

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President Donald Trump has repeatedly called for “too slow” Powell to reduce rates, but his own actions have had the opposite effect. Trump’s tariffs and now the war in Iran have caused prices to increase, which is likely to result in inflation figures going back up.

Inflation is one of the two Fed mandates for policy decisions on rates; the other is the labor market.

Crypto Market Outlook

Bitcoin is down 4.3% on the day, dropping below $71,000 on Wednesday, where it currently struggles.

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Ether prices dumped 5.6% and fell below $2,200 while struggling to reclaim that level. Meanwhile, the altcoins were bleeding heavily with larger losses for Dogecoin, Cardano, Chainlink, and Zcash.

“For now, traders are expecting a bullish relief rally in spite of no changes being made,” reported Santiment. “This is likely due to the fact that the bearish price action related to the lack of cuts already occurred yesterday.”

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Arthur Hayes Bought ETHFI Just Hours Before Major Upbit Listing

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Arthur Hayes Bought ETHFI Just Hours Before Major Upbit Listing


The asset’s price exploded by almost 20% in minutes after the listing news went live.

The former CEO of the derivatives giant BitMEX has made several multi-million-dollar trades over the past six months or so, but his latest purchase raised some eyebrows in the cryptocurrency community.

This is because it preceded a major listing of the token he bought, which pushed its price up by double digits.

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Did He Know?

Lookonchain data from earlier today shows that Hayes received over 132,000 ETHFI tokens from Anchorage Digital at $0.55 per one. Shortly after, news emerged on social media that one of the largest South Korean exchanges, Upbit, had listed the asset for trading against the local won.

Similar listings by the Asian giant have led to immediate price pumps for the underlying asset on almost all occasions. One of the latest examples involved ICP, whose price skyrocketed by over 16% last week.

Although ETHFI is a much smaller altcoin, its pump was essentially similar, going up by 18% from $0.54 before the announcement to $0.64 minutes after it. However, it was halted there and has lost almost all gains, perhaps driven by the overall market-wide correction today.

Even though some comments below the original post indeed questioned whether Hayes indeed had some insider knowledge, the amount of ETHFI he received seems rather negligible compared to what he sold a month ago – $72.8K now vs. $2.15 million back then.

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Previous Sell-Offs

CryptoPotato reported in February, shortly after the market tumbled, that Hayes had disposed of a large number of DeFi-linked tokens, including ETHFI. Aside from a $950,000 ETHFI selling spree, he also dumped $1 million worth of ENA and $1.1 million worth of PENDLE.

Hayes even sold ETH last August, suggesting at the time that the asset’s price is likely to tumble. However, the largest altcoins went on a run instead, jumping by double digits in weeks. As such, Hayes explained that he had to rebuy at higher prices and asked for forgiveness from the Ethereum community.

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Pi Network Gears Up for Another Major Upgrade as PI Resists Market Drop

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Pi Network Users Criticize Core Team After Celebratory Post


PI is among the few altcoins that has not plunged today.

After successfully implementing several consecutive protocol updates, the Core Team behind the controversial project noted earlier today that the next one is already in the works.

At the same time, the underlying token has posted a minor gain since yesterday. However, its broader performance continues to be quite underwhelming.

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Next Update Coming Soon

The team announced the first protocol update of the year on February 20, which brought it to version 19.6. The next one, v19.9, followed suit on March 4, and the highly anticipated v20.2 was successfully migrated before the community’s Pi Day (March 14). This one was particularly important as it laid out the fundamentals for enabling smart contract capabilities.

This rollout will occur gradually, the team said, as they aim to prioritize categories that align with utility-based product innovation and operations. The specifics will depend on the needs arising from the utility creation process, they added.

Without providing a clear deadline this time, Pi Network’s official X channel indicated that the v21 upgrade is coming, and node operators must ensure their systems are “up to date.” They added that more instructions will be coming shortly.

PI Resists Dropping Further

Aside from the aforementioned updates, all announced in the past month, the other big news in the Pi Network community came last week from Kraken. The veteran US exchange said it would list the underlying token for trading starting March 13.

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The combined effects for PI were instant and rather mind-blowing. The token exploded by almost 100% in the span of just days, and tapped a five-month peak of around $0.30. However, once it indeed began trading on Kraken, it suffered the consequences of another classic buy-the-rumor, sell-the-news event.

It plummeted by over 30% at one point, and kept losing value to under $0.17 marked yesterday. Interestingly, it has rebounded slightly in the past day (3%), while most other altcoins have suffered 3-5% losses.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

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FTX to release $2.2B: will creditor cash crush FTT price next?

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FTX Token
FTX Token
  • FTX Token changed hands at around $0.28 amid broader crypto market volatility.
  • The FTX Recovery Trust will commence a $2.2 billion distribution on March 31,2026.
  • Potential impact on FTT’s price could see it fall to lows of $0.24.

FTX Token (FTT) is trading lower amid overall crypto weakness and as FTX Recovery Trust announces plans to distribute $2.2 billion to approved creditors by March 31, 2026.

The distribution will mark the fourth round of payouts from the collapsed exchange’s bankruptcy proceedings.

Could this influx of capital crash the FTT token? At the time of writing, FTT hovered near $0.28 and was down 2% in the past 24 hours.

FTX to distribute $2.2 billion to creditors

FTX’s ongoing creditor repayments follow the exchange’s Chapter 11 bankruptcy filed in late 2022 as the Sam Bankman-Fried empire imploded.

SBF was convicted of various charges related to the collapse and is serving a 25-year prison sentence, with FTX now the subject of a Netflix mini-series, ‘The Altruists’, that also features a depiction of Caroline Ellison.

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The expectation is that the upcoming eight-episode show will highlight the dramatic implosion of one of the crypto sector’s biggest exchanges at the time, with key questions around governance and customer protection.

Bankman-Fried recently claimed the exchange was never insolvent.

FTX creditors have nonetheless already seen a series of successful payouts, and the company is eyeing another $2.2 billion to both convenience and non-convenience class claims.

The record date for this distribution was February 14, 2026, with payouts commencing March 31 for verified claim holders and distributed within 1-3 business days via designated providers.

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FTT price outlook

FTT, the native token once central to the FTX ecosystem, remains sensitive to these events, despite falling to near zero from all-time highs above $85.

Holders could see the distribution as a fresh trigger to selling pressure, putting the token’s rebound from its all-time lows of $0.24 reached in October 2025 at risk.

Data shows that at least 38.3k wallet addresses hold the FTX Token.

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With FTX nearing bankruptcy closure, recovery could include a bullish flip to $0.50 and likely the psychological $1.

This will also hinge on whether broader markets stabilize in the short term.

From a technical perspective, neutral oscillators and mixed moving averages signal caution ahead of the March 31 distribution.

The daily RSI hovers near 42 and signals potential downsloping towards oversold extremes.

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Meanwhile, the MACD shows mild bullish momentum with a weakening histogram.

FTX Token Price Chart
FTX Token price chart by TradingView

FTT is down 22% over the past month as altcoins suffer downward pressure amid current bearish crypto conditions.

If creditors liquidate holdings with prices in decline, a retest of the all-time lows around $0.24 could follow.

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Nasdaq Gets SEC Green Light to Trade and Settle Stocks as Tokenized Securities

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🚨

TLDR:

  • SEC approved Nasdaq’s proposal to allow Russell 1000 stocks and major ETFs to trade in tokenized form.
  • Tokenized trades on Nasdaq will still settle through the Depository Trust Company under existing securities laws.
  • ICE, the parent of NYSE, is also developing an on-chain settlement platform and awaiting its own regulatory approval.
  • First token-settled trades on Nasdaq are expected to take place before the close of the third quarter of 2026.

Tokenized securities are now moving closer to mainstream equity markets after a landmark U.S. SEC ruling. The Securities and Exchange Commission approved a Nasdaq proposal on Wednesday to allow stocks to trade in tokenized form.

Nasdaq, listed as NDAQ, had submitted the original proposal in September 2025. The decision marks a concrete step toward integrating blockchain-based settlements into traditional equity trading.

Exchange operators across the industry have been racing to capitalize on the growing tokenization boom under easing crypto regulations.

Nasdaq Sets the Framework for Eligible Tokenized Securities

The SEC approval covers a defined set of securities eligible for tokenized trading on Nasdaq’s main market. Initially, stocks within the Russell 1000 Index will qualify for tokenized trading under the newly approved rules.

Exchange-traded funds tracking key benchmarks, including the S&P 500 and Nasdaq 100, are also covered under the approval.

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Journalist Eleanor Terrett captured the scope of the ruling clearly on X, writing that “the move will allow participants to opt to have trades in Russell 1000 stocks, as well as ETFs tracking the S&P 500 and Nasdaq 100, settled as tokenized securities rather than through traditional methods.”

Furthermore, investors will be able to choose between trading stocks as conventional shares or as blockchain-based digital tokens.

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Settlement for all tokenized trades will run through the Depository Trust Company, a familiar and established institution.

The original proposal, filed in September 2025, sought to amend Nasdaq’s existing rules to support both traditional and tokenized trading on its primary market.

The first token-settled trades are potentially expected to occur by the end of the third quarter of 2026. The SEC’s approval of that amendment now makes tokenized equity trading a functional option for a broad range of investors.

Rival Exchanges Are Also Pursuing Blockchain-Based Settlement

Intercontinental Exchange, the NYSE parent listed as ICE, has similarly moved into this space in 2025. Earlier this year, ICE announced it had developed a dedicated platform for trading and on-chain settlement of tokenized securities. The company is currently pursuing the necessary regulatory approvals to bring that platform to market.

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The broader push toward tokenization is being driven in part by easing crypto regulations across the United States.

The Trump administration and SEC Chairman Paul Atkins have placed strong emphasis on strengthening American leadership in digital financial technology and making the country the leading hub for crypto globally.

SEC Commissioner Hester Peirce has also been vocal on the matter, stating that “tokenized securities are still securities” and that market participants must fully adhere to federal securities laws when trading these instruments.

The competition between Nasdaq and ICE reflects how aggressively traditional finance is embracing tokenized markets.

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Nasdaq has also partnered with Kraken’s parent company, Payward, to develop an “equities transformation gateway,” further extending its blockchain reach beyond the SEC ruling.

This parallel development across rival exchanges points to on-chain equity settlement gaining genuine and lasting industry-wide traction.

The post Nasdaq Gets SEC Green Light to Trade and Settle Stocks as Tokenized Securities appeared first on Blockonomi.

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Bitcoin OGs dump over $100 million in BTC after hawkish Fed dents rate cut hopes

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Bitcoin OGs dump over $100 million in BTC after hawkish Fed dents rate cut hopes

Bitcoin’s biggest early holders, often called original gangsters, are hitting the sell button after the Federal Reserve rattled expectations for lower borrowing costs.

Blockchain data tracked by Lookonchain shows at least two long-term holders together dumped over 1,650 BTC worth more than $117.87 million early Thursday.

One veteran whale who previously sold an 11,000‑BTC stack, added another 650 BTC to his dump, while a separate early‑adopter OG with a 5,000‑BTC stash offloaded a full 1,000 BTC.

Bitcoin’s price dipped nearly 1% to $70,600 soon before press time, extending Wednesday’s 3.5% slide from $74,500, according to CoinDesk data. The broader market wilted, with the CoinDesk 20 Index 3% to 2,056 points. Ether (ETH), XRP (XRP), solana (SOL), and suffered similar losses.

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The decline followed a hawkish Fed rate decision on Wednesday, when the central bank left the benchmark borrowing cost unchanged in the 3.5%–3.75% range but signaled a slower pace of rate cuts ahead, disappointing risk‑asset bulls.

The hawkish tone came through the so‑called interest‑rate “dot plot,” which shows where the Fed’s voting members expect interest rates to land in the months ahead. The median projection indicated only one rate cut this year, despite recent labour-market weakness. Moreover, only two committee members remained in the two‑cut camp, and Chair Powell’s own personal projection moved higher.

“The higher for longer narrative has been reinvigorated by sticky inflation and the inflationary shadow cast by rising energy costs, forcing investors to abandon their dreams of a rapid easing cycle,” Matt Mena, crypto research strategist at 21shares, said in an email.

Taken together, these developments pointed to a central bank still wary of inflation and this has led to a sharp repricing of bets on Fed rate cuts. Trading on the decentralized platform Polymarket and pricing in the CME Fed funds futures, now implies around an 80% probability of just one rate cut this year, versus a 62% probability of two to three rate cuts a month ago.

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This outlook for tighter liquidity is not supportive of risk-taking in financial markets.

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Why is crypto market crashing today? (March 19)

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Why is crypto market crashing today? (March 19)

The global crypto market fell sharply on Thursday as new geopolitical and macroeconomic concerns threw cold water on investor appetite for risk assets.

Summary

  • Crypto markets dropped sharply as escalating Middle East tensions and hotter U.S. PPI data weakened investor appetite, pushing Bitcoin down nearly 5% to around $70,600.
  • Global markets declined alongside crypto, with stocks and precious metals falling while oil surged to record highs amid disruptions at key energy supply routes.
  • Over $480 million in long positions were liquidated across crypto markets, amplifying downside pressure as rate cut expectations diminished following Powell’s remarks.

Bitcoin (BTC), the bellwether asset, dropped nearly 5% to $70,600 on Thursday, down from the $74,000 levels seen the previous day. Ethereum (ETH) fell 6% to $2,187, while XRP (XRP), BNB (BNB), Solana (SOL), and Dogecoin (DOGE) experienced losses ranging between 3% and 6%. 

Zcash (ZEC), Worldcoin (WLD), and LayerZero (ZRO) bore some of the steepest losses amid the market-wide drop that brought the total crypto market capitalization down to $2.51 trillion.

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Crypto prices fell sharply shortly after Israel launched an unprecedented cyber and drone attack on Iran’s largest gas facility, South Pars. According to reports, the massive complex powers nearly 70% of the nation’s domestic gas supply, the loss of which has threatened the country’s power grid.

The strike comes amid an escalating energy war between the U.S., Israel, and Iran, which has led to a blockade at the Strait of Hormuz, a key waterway for global oil transit, and sent crude oil and gas prices soaring to record highs. Iran had earlier vowed to push oil prices to as high as $200.

The latest attack has not only shaken the crypto market but has rippled across traditional finance as well. Notably, Gold has dropped 2.1% over the day, casting investors’ doubts over its safe haven status, while Silver fell 3.5%. Together, these precious metals erased nearly $150 billion from the market.

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Traditional stock indices across the globe have also fallen in tandem with risk assets. Notably, Asian benchmarks like Japan’s Nikkei 225 and the Hang Seng have fallen over 2%. Even U.S. indices like the Dow Jones Industrial Average, Nasdaq 100, S&P 500, and Russell 2000 Index have all sharply fallen across the board.

However, oil prices took a different path, rising to new levels. Notably, Brent Crude has jumped 3% to a new record high of $112 on Thursday as traders price in a prolonged disruption in a region that remains a major source of global energy production.

Typically, when gold and cryptocurrency prices crash together, it means traders are fleeing to cash rather than rotating between alternative assets.

Hotter U.S. PPI data and Fed announcement deliver a double blow to bulls

Fears of sticky inflation also played a major role in the crypto market drop today. On Wednesday, the U.S. revealed that the PPI data came in much hotter than expected, with a record monthly gain in a year for wholesale costs. This came as the market was already cautious ahead of the Federal Reserve rate decision that was scheduled for later in the day.

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In his speech, Fed Chair Jerome Powell echoed concerns surrounding elevated inflation levels. Powell clarified that the Federal Reserve is prepared to hold interest rates steady as it sticks to a data-driven strategy to combat rising inflation stemming from the oil shock. As such, market hopes for rate cuts this year have fallen slim.

The resulting crash from potential delays in rate cuts and the surging oil price as a result of Middle East tensions together triggered a liquidation cascade across leveraged crypto markets. 

Data from CoinGlass shows that over $481 million in long positions were liquidated in the past 24 hours, with Bitcoin and Ethereum accounting for the majority of it, with $143 million and $127 million in long liquidations, respectively.

Long liquidations occur when investors bet on a price increase, and the asset price drops enough to hit their margin limits, forcing the exchange to automatically close their trades.

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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China Gold Reserves Hit Record 2,309 Tonnes as PBOC Marks 16 Straight Months of Buying

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TLDR:

  • The PBOC added 30,000 ounces in February, pushing official gold reserves to a record 2,309 tonnes worth $387.6 billion.
  • Analysts estimate China’s true gold holdings could be two to ten times its official figure due to undeclared accumulation channels.
  • The Shanghai Gold Exchange processed 126 tonnes in physical withdrawals in January, with settled gold permanently leaving auditable systems.
  • Gold now represents 10% of China’s foreign exchange reserves, a share that has doubled over the past twenty months amid global tension.

China gold reserves have reached a record 2,309 tonnes, valued at approximately $387.6 billion. The People’s Bank of China added 30,000 ounces in February, marking its 16th consecutive month of gold accumulation. 

Analysts at Societe Generale, Goldman Sachs, and the World Gold Council estimate that undeclared holdings could be two to ten times the official figure. 

Gold now makes up roughly 10 percent of China’s foreign exchange reserves, a share that has doubled in twenty months.

Multi-Channel System Keeps Chinese Gold Flows Out of Sight

The Shanghai Gold Exchange operates under mandatory physical settlement rules. Buyers receive bullion from one of 58 certified vaults spread across 56 Chinese cities. 

Once gold exits a certified vault, it cannot re-enter the system. That rule renders the metal permanently invisible to outside auditors and flow-tracking mechanisms.

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The SGE processed 126 tonnes of physical withdrawals in January alone. Hong Kong acts as the primary import gateway for routing bullion to the mainland. 

London, Switzerland, and Dubai supply 400-ounce bars through over-the-counter channels that never surface in exchange records. 

Russia settles bilateral gold deals in yuan, placing those flows outside both PBOC reserves and published trade statistics.

Analyst @shanaka86 described the operation plainly in a post this week. “This is not a central bank buying gold,” the post read. “This is a state operating a multi-channel physical accumulation system designed from the ground up for opacity.” 

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The comment pointed to how far beyond conventional reserve management this activity extends.

These channels work together to keep the true total hidden from outside observers. China is also drawing commercial crude reserves at one million barrels per day and has suspended nitrogen and potassium fertiliser exports. 

Each action appears aimed at building domestic supply buffers while reducing competitor access to key resources.

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Gold’s Physical Market Diverges From Paper Pricing as Global Pressure Mounts

Gold is trading at $5,000 per ounce, with retail investors putting $70 billion into ETFs while institutions sell. 

That split between physical demand and paper market behavior mirrors the pricing gap between Oman crude and WTI. 

Both the retail buyer and the Chinese central bank appear to be reading the same underlying signals.

The Hormuz crisis has added fresh pressure across oil, fertiliser, and LNG supply chains. Physical chokepoints are repricing commodities at a pace that monetary policy cannot match. Gold, unlike oil or LNG, requires no strait, pipeline, or political approval to store value.

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At its current pace, China could become the world’s largest sovereign gold holder within a decade. The PBOC’s official figure stands at 2,309 tonnes, while the undeclared total remains unknown. 

The dollar still holds its position as the world’s reserve currency. Yet China is building a financial buffer that no sanctions regime can freeze.

That buffer has now been growing for sixteen consecutive months. Nitrogen is stuck behind Hormuz, and LNG faces disruption from burning refineries. Gold, meanwhile, continues flowing through every available channel into Chinese vaults.

The post China Gold Reserves Hit Record 2,309 Tonnes as PBOC Marks 16 Straight Months of Buying appeared first on Blockonomi.

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