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Tether Freezes $544M Crypto Tied to Turkish Illegal Betting Probe

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Crypto Breaking News

Turkish prosecutors expanded a wide-ranging operation against illegal online betting and money-laundering networks, freezing more than €460 million in assets linked to a prominent suspect. The Istanbul seizure, announced last week, targeted holdings tied to Veysel Sahin, accused of operating unlawful betting platforms and channeling illicit proceeds. Officials initially declined to name the crypto firm involved, but later confirmed that Tether Holdings SA—the issuer of the USDt stablecoin—was implicated in the case. Tether’s CEO, Paolo Ardoino, said the company acted after receiving information from law enforcement, asserting that the firm “acts in respect of the laws of the country” and works with federal agencies when warranted. The move fits into a broader Turkish crackdown aimed at untangling underground gambling networks and their financial conduits.

Key takeaways

  • Turkish prosecutors seized approximately €460 million ($544 million) in assets linked to Veysel Sahin, a figure tied to alleged illegal betting platforms and money laundering.
  • Tether Holdings SA confirmed cooperation with authorities after being identified in the case, underscoring a broader pattern of collaboration with law enforcement on crypto-related investigations.
  • Turkey’s ongoing probes have already netted more than $1 billion in seizures across related investigations, highlighting the scale of cross-border enforcement against illicit crypto activity.
  • Analytical firms report that stablecoin ecosystems continue to be a battleground for compliance, with thousands of wallets flagged for potential misuse and billions in associated activity.
  • Despite scrutiny, USDt remains among the dominant stablecoins in on‑chain activity, with continued growth in market cap and user adoption even amid a broader downturn in the crypto sector.

Tickers mentioned: $USDT, $USDC, $USDe

Sentiment: Neutral

Price impact: Neutral. The actions described are enforcement measures; no direct, stated impact on token prices is noted in the report.

Market context: The Turkish crackdown underscores rising regulatory attention to stablecoins and cross-border crypto flows as authorities increasingly leverage on-chain analytics to pursue illegal finance and sanctions evasion. The case also illustrates how crypto firms collaborate with investigators in multi-jurisdictional efforts, shaping a developing playbook for enforcement in a rapidly evolving sector.

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Why it matters

The Turkish case exemplifies how traditional crime issues—unlicensed gambling, money laundering, and cross-border capital movement—become entangled with crypto rails. By freezing assets tied to a named operator and publicly linking the action to a major stablecoin issuer, regulators draw a direct line between on-chain liquidity and real-world criminal enterprises. For crypto firms, the episode reinforces the need for robust Know Your Customer and Anti-Money Laundering controls and heightened cooperation with law enforcement, particularly in jurisdictions with aggressive enforcement environments. The public acknowledgment of the role played by USDt in the case—and the broader discussion around its use in illicit activity—adds to the ongoing debate about stability, transparency, and risk management within the stablecoin landscape.

For investors and users, the development signals ongoing regulatory scrutiny of stablecoins, even as the asset class sustains significant liquidity and network activity. Analysts have tracked a broad escalation in compliance actions tied to stablecoins, which could influence how exchanges and custodians assess risk, conduct due diligence, and report suspicious activity. The Turkish actions also intersect with wider enforcement patterns that see information-sharing between national authorities and crypto firms as a central feature of investigations that span continents. In this context, the resilience of legitimate stablecoin use—reconciliation of on-chain flows with traditional financial systems—depends increasingly on transparent governance, auditable reserves, and proactive collaboration with regulators.

A forensic map tracing laundered crypto from a suspect to exchanges. Source: Elliptic

Beyond the Turkish case, analyses from Elliptic highlight how stablecoins have become a focal point for financial crime risk analysis. The firm’s data show that by late 2025, roughly 5,700 wallets connected to stablecoins had been blacklisted, holding about $2.5 billion in aggregate value, with roughly three-quarters of those addresses associated with USDT. The broader takeaway is that enforcement pressure on stablecoins is intensifying as regulators push for more visibility into fund flows, counterparties, and the end-use of digital assets in illicit networks. In tandem with this, Tether has pointed to its own compliance record, noting it has assisted in more than 1,800 investigations across 62 countries, leading to about $3.4 billion in frozen USDt tied to alleged criminal activity.

From a policy perspective, the case dovetails with ongoing discussions about stablecoins’ role in sanctions regimes and cross-border finance. While some observers argue that stablecoins offer efficiency and resilience for legitimate users, the same rails can be exploited for evading restrictions or moving proceeds of crime. The broader narrative is not about banning stablecoins but about ensuring that the technology is integrated with robust compliance practices that can withstand sophisticated enforcement attention. The Turkish authorities’ success in tracing and freezing funds also sends a message to illicit actors: cross-border cooperation and on-chain forensics remain potent tools for disrupting illegal financial networks.

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As the surveillance of the stablecoin ecosystem intensifies, the crypto markets watch how issuers adapt. USDt, which recently reached a record market capitalization of about $187.3 billion in Q4 2025, continues to dominate the stablecoin space even as other tokens faced volatility. On-chain activity in USDt also hit new highs, with nearly 24.8 million active USDt wallets and a quarterly transfer volume exceeding $4.4 trillion across billions of transactions. These metrics underscore the sheer scale of stablecoin usage and the importance of regulatory clarity for participants across exchanges, wallets, and payments rails.

In summary, the Turkish action is a notable data point in a broader trend: law enforcement agencies increasingly coordinate with issuer platforms to combat illicit finance in the digital era. While the specifics of the Sahin case are localized, the underlying dynamics—cross-border prosecutions, analytics-driven investigations, and ongoing scrutiny of stablecoins—are global in scope and likely to influence policy discussions and industry practice for months to come.

What to watch next

  • Continued Turkish investigations into online gambling and money laundering networks, and any subsequent asset seizures related to Sahin or affiliated entities.
  • Public disclosures from Tether about ongoing regulatory cooperation and any new findings from cross-border investigations.
  • Regulatory developments around stablecoins in major markets, including potential updates to reserve disclosures and reporting requirements.
  • Follow-up analyses from on-chain researchers about the use of USDt in sanctions or illicit finance corridors and any shifts in wallet-holding patterns.

Sources & verification

  • Istanbul prosecutors’ seizure announcement tied to Veysel Sahin via turkiye today.
  • Paolo Ardoino’s comments to Bloomberg regarding cooperation with law enforcement.
  • Elliptic analysis on blacklisted stablecoin wallets and related illicit activity.
  • U.S. Department of Justice press release on charges related to laundering $1 billion using USDt.
  • Cointelegraph reporting on USDt market cap and on-chain activity in Q4 2025.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Anthropic Sues US Over Supply Chain Risk Blacklist

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Nexo Partners with Bakkt for US Crypto Exchange and Yield Programs

TLDR

  • Anthropic filed a lawsuit against the US Department of Defense over a supply chain risk designation.
  • The designation restricts Anthropic from working with defense contractors on federal projects.
  • Federal officials labeled the company after talks failed over surveillance and weapons use.
  • Anthropic refused to allow its systems for mass surveillance of Americans or autonomous weapons.
  • The Pentagon paused a contract valued at up to 200 million dollars following the dispute.

Anthropic has filed a lawsuit against the US Department of Defense and other federal agencies over a supply chain risk designation. The company challenges the Trump administration’s decision that restricts its work with defense contractors. The dispute centers on failed talks about surveillance use and a Pentagon contract valued at up to $200 million.

Anthropic Challenges Federal Supply Chain Risk Designation

Anthropic filed the lawsuit after federal agencies labeled the company a supply chain risk and restricted defense partnerships. The designation followed collapsed talks between the company and defense officials over permitted uses of its systems. Federal officials insisted the technology must support all lawful purposes, including surveillance and weapons programs.

However, Anthropic refused to allow its systems for mass surveillance of Americans or autonomous weapons. As talks ended, the government halted adoption plans and jeopardized a Pentagon deal worth up to $200 million. The company argues the classification lacks legal basis and seeks judicial review to protect its operations.

An Anthropic spokesperson told CNN, “Seeking judicial review does not change our longstanding commitment to harnessing AI to protect our national security.” The spokesperson added that the lawsuit protects its business, customers, and partners. Meanwhile, the Pentagon maintained that lawful use requirements remain essential for defense technology.

Defense Contract Dispute and Corporate Responses

The Financial Times reported that Chief Executive Dario Amodei sought last-minute negotiations with defense leaders. He attempted to de-escalate tensions and prevent a formal blacklist. However, the effort failed to stop the supply chain risk classification.

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Following the designation, federal agencies limited cooperation with Anthropic in defense projects. The Pentagon stated that contractors must ensure full lawful access to deployed systems. Officials maintained that defense technology providers must meet comprehensive operational requirements.

Despite the government dispute, Anthropic’s consumer business showed resilience. The company’s Claude application surpassed OpenAI’s ChatGPT in Apple App Store rankings after news of the contract termination. By early March, Anthropic reported that more than one million users signed up for Claude daily.

Major technology companies responded to the federal classification with public statements. Google confirmed it would continue providing Anthropic technology to cloud customers for non-defense purposes. Microsoft issued a similar statement, and Amazon said it would maintain access outside defense work.

Anthropic continues discussions with government officials while pursuing its lawsuit in federal court. The company maintains that the designation lacks a clear statutory foundation. As of early March, more than one million users join Claude daily, according to company data

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Nasdaq partners with Kraken to distribute tokenized stocks globally

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Nasdaq follows Cboe joining world of 'binary bets' as prediction market craze hits Wall Street

Nasdaq said it will work with crypto exchange Kraken to develop a system for issuing and trading tokenized versions of stocks and other exchange-traded products, according to a press release.

Under the plan, tokenized shares would give investors the same corporate governance rights as ordinary stockholders, including voting in proxy ballots and receiving dividends. Nasdaq said the initiative will focus heavily on making corporate actions, such as dividend payments and proxy voting, more efficient by automating parts of the process through blockchain technology. The platform is expected to launch in early 2027.

Kraken will act as a distribution partner for the project. Through the arrangement, one-to-one tokenized versions of public company shares would be made available to Kraken’s customers outside the United States, particularly in Europe and other international markets.

The effort builds on a proposal Nasdaq submitted to the U.S. Securities and Exchange Commission in September seeking approval to allow tokenized versions of its listed stocks and exchange-traded products to trade alongside traditional shares on the exchange.

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In that proposal, both the tokenized and conventional versions would be settled through the Depository Trust to ensure they remain interchangeable.

Last week exchange operator ICE made a strategic investment in OKX, valuing the exchange at $25 billion as it signed a deal to offer new tokenized stocks and crypto futures products.

Separately, Nasdaq also announced a partnership with Boerse Stuttgart Group’s tokenized settlement platform Seturion to connect its European trading venues to infrastructure designed to support trading and settlement of tokenized securities.

UPDATE: (March 9, 11:41 UTC) Adds the final paragraph on Nasdaq’s partnership with the Boerese Stuttgart Group.

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UPDATE: (March 9, 13:18 UTC) Changes citation to Kraken press release.

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Bitcoin hits one-month high as CLARITY Act optimism grows

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Simon Peters Crypto Analyst Etoro

Editor’s note: The latest market commentary centers on renewed optimism around US crypto regulation as lawmakers push the CLARITY Act. Bitcoin briefly rose to a one-month high on that tone, while major altcoins moved modestly higher before retracing. The report also highlights Kazakhstan’s plan to invest in cryptoassets, with fresh allocations signaling growing interest from a national regulator in digital assets. As CPI and PCE data loom and geopolitical tensions influence energy prices, crypto markets could be particularly sensitive to policy signals and macro data.

“Prices were boosted earlier in the week following reports of a private meeting between Coinbase CEO Brian Armstrong and President Donald Trump regarding the CLARITY Act,” Peters said.

Key points

  • Bitcoin touched a one-month high on CLARITY Act optimism.
  • Kazakhstan central bank plans to invest in cryptoassets, with initial $350m from reserves and $350m from the National Fund planned later.
  • The CLARITY Act faces resistance from banks; final decision rests with the Senate Banking Committee.
  • Markets are watching US inflation data and oil prices for potential crypto moves.

Why this matters

The evolving regulatory landscape around the CLARITY Act could shape how crypto markets price risk and admit new participants. A Kazakhstan central bank move toward direct exposure to digital assets marks a notable shift in state involvement, potentially influencing policy debates and industry strategies. With central banks, regulators and investors weighing stability, innovation and governance, the next rounds of data and negotiations will help define the parity between markets and policy.

What to watch next

  • Senate Banking Committee debates and votes on the CLARITY Act.
  • Upcoming CPI and PCE data releases and the Federal Reserve decision on March 18.
  • Kazakhstan’s crypto investments expected to begin in April or May.

Disclosure: The content below is a press release provided by the company/PR representative. It is published for informational purposes.

Bitcoin touches one-month high on CLARITY Act optimism; Kazakhstan central bank to invest in crypto

Abu Dhabi, United Arab Emirates – March 09, 2026: Bitcoin briefly touched a one-month high of $74,000 last week, supported by renewed optimism around potential US crypto market regulation, according to the latest market commentary from Simon Peters, Crypto Analyst at eToro.

Despite the temporary rally, the leading cryptocurrency ended the week roughly where it started, while major altcoins including Ethereum, BNB and Solana also recorded modest gains earlier in the week before retracing.

Simon Peters Crypto Analyst Etoro
Simon Peters Crypto Analyst Etoro

Commenting on the market movements, Peters said speculation around progress on the proposed CLARITY Act helped lift sentiment across crypto markets.

“Prices were boosted earlier in the week following reports of a private meeting between Coinbase CEO Brian Armstrong and President Donald Trump regarding the CLARITY Act,” Peters said.

President Trump also publicly weighed in on the issue via Truth Social, criticising banks and urging progress on US crypto market structure legislation. In his comments, Trump said the US needs to “get Market Structure done” and that policymakers should “make a good deal with the Crypto Industry.”

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However, the proposed legislation has faced resistance from the banking sector. Banks have argued that allowing stablecoins to offer yields could encourage depositors to move funds away from traditional bank accounts, potentially creating liquidity pressures and broader instability within the financial system.

Crypto firms, on the other hand, argue that restricting yields on stablecoins would stifle innovation and weaken the competitiveness of the US digital asset industry, while protecting the interests of traditional financial institutions.

Although the CLARITY Act appears to have support from the President and the White House, the final decision will rest with lawmakers in the Senate Banking Committee, who must debate and vote on the bill before it can progress.

Looking ahead, investors are closely watching upcoming US inflation data releases, including CPI and PCE figures, which could influence the Federal Reserve’s interest rate decision at its next policy meeting on March 18.

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“At the same time, escalating tensions in the Middle East are raising concerns about rising oil prices and their potential impact on global inflation, which could also spill over into crypto markets,” Peters added.

Biggest movers

Chiliz (CHZ) was among the strongest performers over the past week, rising 11%, including a 6% gain in the last 24 hours.

The move followed Chiliz announcing that it will buy back and burn CHZ tokens for the first time since its launch in 2018. The initiative will be funded using 10% of revenue generated from fan token sales.

Chiliz is the company behind Socios.com, a blockchain-based sports fan engagement and rewards platform. Built on Chiliz blockchain technology, CHZ serves as the platform’s exclusive on-platform currency.

Eye-catching story

Kazakhstan central bank to invest in crypto

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The National Bank of Kazakhstan has announced plans to add cryptoassets to its national reserves, marking a notable step by a central bank toward direct exposure to digital assets.

According to reports, the central bank has allocated $350 million from its gold and foreign exchange reserves for an initial investment. An additional $350 million from the National Fund — the country’s sovereign wealth fund — is expected to be allocated later this month.

Aliya Moldabekova, Deputy Governor of the National Bank of Kazakhstan, said the investments are expected to begin in April or May.

In addition to direct cryptoasset exposure, the central bank plans to invest in high-tech companies linked to digital assets, index funds, and other instruments that exhibit similar performance dynamics to cryptocurrencies.

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As of February 1, the National Bank of Kazakhstan’s gold and foreign exchange reserves stood at $69.40 billion, while the National Fund held assets valued at $65.23 billion.

Media Contact:
PR@etoro.com

About eToro

eToro is the trading and investing platform that empowers you to invest, share and learn. We were founded in 2007 with the vision of a world where everyone can trade and invest in a simple and transparent way. Today we have 40 million registered users from 75 countries. We believe there is power in shared knowledge and that we can become more successful by investing together. So we’ve created a collaborative investment community designed to provide you with the tools you need to grow your knowledge and wealth. On eToro, you can hold a range of traditional and innovative assets and choose how you invest: trade directly, invest in a portfolio, or copy other investors. You can visit our media centre here for our latest news.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Why bitcoin is rising even as the S&P 500 and tech stocks stumble

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Why bitcoin is rising even as the S&P 500 and tech stocks stumble

The outbreak of war in the Middle East has rattled global markets, yet bitcoin has been doing something unexpected: outperforming stocks.

Bitcoin has risen about 3.5% to $68,000 since the conflict between Iran, Israel and the U.S. began just over a week ago, according to CoinDesk data. Over the same period it has outperformed most major assets. Gold has fallen roughly 5%, silver is down 12%, the Nasdaq 100 has declined about 1% and the S&P 500 is lower by around 1.5%.

The divergence has widened over the past 24 hours, with bitcoin up more than 2.5% while U.S. equity futures remain in the red. WTI crude briefly surged to around $116 per barrel early on Monday, at one stage up about 60% since the conflict began. However, comments from G7 leaders about potentially releasing oil reserves helped cool the rally, with crude retreating to roughly $100 per barrel.

Meanwhile, the U..S dollar has strengthened, with the DXY index rising more than 1% to just above 99. Treasury yields have also climbed, with the US 10 year yield moving from just below 4% before the conflict to around 4.2%.

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Bitcoin’s outperformance comes after weeks of a brutal sell-off that saw prices nearly halve to around $60,000 from the record high above $126,000 in October. With sentiment already fragile when the conflict began, many expected the downturn to deepen rather than reverse. Instead, the market has done what it often does best: catch the consensus off guard.

Tracking tech stocks

Despite bitcoin’s relative strength, it still shows correlation with technology stocks. The iShares Expanded Tech Software ETF (IGV), a widely followed software sector benchmark, has gained about 7% since the conflict began after rebounding from roughly $76 to close Friday near $88.

Derivative market signals may point to stabilization. Open interest in coin margined futures, which measures the total value of outstanding contracts settled in bitcoin rather than dollars, has declined, indicating leverage is being flushed from the system. Funding rates, periodic payments between long and short traders in perpetual futures, remain negative at around -3.5%, meaning short sellers are paying longs, a sign bearish positioning remains crowded.

At the same time, the Coinbase premium has returned. This measures the price difference between bitcoin on Coinbase and offshore exchanges and is often used as a proxy for US institutional demand. Its reappearance, alongside spot ETF inflows, suggests institutional buyers may be returning to the market and finding demand at these oversold levels.

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Stablecoin Depegs and the DeFi Chain Reaction

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Stablecoin Depegs and the DeFi Chain Reaction

Stablecoins are often described as the foundation of decentralized finance (DeFi). They provide price stability in a volatile crypto market and act as the primary medium for trading, lending, liquidity provisioning, and yield farming. From decentralized exchanges to lending platforms, stablecoins power a large portion of on-chain financial activity.

However, this deep integration also introduces systemic risk. When a stablecoin loses its peg, the impact rarely remains isolated. Instead, the instability can ripple through the entire DeFi ecosystem, causing liquidation cascades, liquidity imbalances, and cross-protocol failures.

This phenomenon is known as stablecoin contagion—a chain reaction where instability in one stablecoin spreads across interconnected DeFi systems.

What Is Stablecoin Contagion?

Stablecoin contagion refers to the spread of financial instability triggered by a stablecoin losing its price peg. Because stablecoins are deeply embedded in DeFi infrastructure, their failure can impact multiple protocols simultaneously.

When a depeg occurs, several events can unfold:

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  • Lending positions become undercollateralized

  • Automated liquidations trigger across multiple protocols

  • Liquidity pools become imbalanced

  • Arbitrage traders drain stable assets from pools

  • Cross-chain markets transmit instability to other ecosystems

The result is a network-wide stress event that can rapidly escalate if not contained.

Why Stablecoins Are Systemically Important in DeFi

Stablecoins serve several essential roles in decentralized finance:

Trading pairs
Most decentralized exchanges use stablecoins as the base trading asset.

Collateral assets
Lending protocols allow users to borrow funds against stablecoin deposits.

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Liquidity provision
Stablecoins form the backbone of many automated market maker (AMM) pools.

Yield farming incentives
Many protocols distribute rewards based on stablecoin liquidity participation.

Because these roles overlap across multiple platforms, a single stablecoin can become deeply embedded across dozens of DeFi protocols simultaneously.

The Four Core Contagion Mechanisms

1. Liquidation Cascades

One of the fastest ways contagion spreads is through collateral liquidations.

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Many lending platforms require overcollateralized positions. When a stablecoin depegs below $1:

  1. Collateral value suddenly drops

  2. Borrowers fall below the required collateral ratios

  3. Smart contracts trigger automatic liquidations

  4. Liquidated assets flood the market

These forced sales can push asset prices down further, triggering additional liquidations across other protocols.

Callout:
⚠️ Liquidation cascades can propagate across multiple DeFi platforms within minutes.

2. Liquidity Pool Imbalances

Decentralized exchanges rely heavily on stablecoin liquidity pools.

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When a stablecoin loses its peg:

  • Traders rush to swap the unstable asset

  • Arbitrageurs drain stable assets from the pool

  • Liquidity providers are left holding mostly the depegged asset

This imbalance causes massive impermanent loss for liquidity providers and weakens overall market liquidity.

Callout:
💡 AMM pools amplify contagion because they automatically rebalance toward the failing asset.

3. DeFi Composability Risk

DeFi is built on composability, often called “money legos.” Assets from one protocol are frequently reused in others.

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For example:

  1. Deposit Stablecoin A into a lending protocol

  2. Borrow Stablecoin B

  3. Use B to provide liquidity on a DEX

  4. Stake LP tokens in a yield farm

If Stablecoin A depegs, the user’s entire stack becomes unstable. This layered exposure allows contagion to spread across multiple platforms simultaneously.

Callout:
🔗 Composability multiplies risk because a single asset can support multiple financial layers.

4. Cross-Chain Transmission

Stablecoins often exist across multiple blockchains via bridges.

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When instability begins on one chain:

  • Arbitrage spreads price imbalances across chains

  • Bridged liquidity pools become unstable

  • Protocols using wrapped versions of the stablecoin inherit the risk

This allows contagion to spread beyond a single blockchain ecosystem.

Callout:
🌐 Cross-chain liquidity turns local stablecoin failures into global DeFi risks.

Stablecoin Types and Their Contagion Risk

Not all stablecoins carry the same systemic risk.

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Fiat-Backed Stablecoins

These stablecoins are backed by real-world reserves such as cash or treasury bonds.

Advantages

Risks

Crypto-Collateralized Stablecoins

These stablecoins are backed by crypto assets locked in smart contracts.

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Advantages

Risks

Algorithmic Stablecoins

Algorithmic stablecoins rely on supply adjustments rather than collateral reserves.

Advantages

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  • Capital efficient

  • Fully on-chain

Risks

Historically, this model has produced the largest contagion events in DeFi history.

Case Study: The Terra Collapse

One of the most dramatic examples of stablecoin contagion occurred during the collapse of the Terra ecosystem.

The algorithmic stablecoin UST lost its peg, triggering a massive chain reaction:

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  • Billions withdrawn from Anchor Protocol

  • Large-scale liquidations across DeFi markets

  • Liquidity pools drained across multiple blockchains

  • Over $40 billion in value was wiped out

This event highlighted how one stablecoin failure can destabilize an entire ecosystem.

How Researchers Model Stablecoin Contagion

As DeFi grows more complex, researchers are developing frameworks to measure systemic risk.

Network Dependency Models

These models map relationships between stablecoins, protocols, and liquidity pools to identify systemic exposure.

Spillover Volatility Models

Statistical models estimate how volatility from one stablecoin spreads to others during extreme market conditions.

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Systemic Risk Metrics

Composite indicators track:

These tools help analysts detect potential contagion risks before they escalate into full market crises.

Strategies to Reduce Stablecoin Contagion

DeFi protocols are beginning to implement safeguards to limit systemic risk.

Diversified Collateral

Using multiple asset types instead of relying on a single stablecoin.

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Emergency Shutdown Mechanisms

Protocols can temporarily halt liquidations or trading during extreme volatility.

Liquidity Backstops

Reserve funds or insurance pools can stabilize markets during stress events.

Cross-Protocol Risk Monitoring

Shared analytics systems help track exposure across the broader DeFi ecosystem.

The Future of Stablecoin Risk Management

Stablecoins are essential to the growth of decentralized finance, but their interconnected nature means instability can spread quickly. As the ecosystem evolves, stronger risk models and protocol safeguards will be critical for preventing systemic failures.

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Understanding stablecoin contagion models helps developers, investors, and researchers anticipate vulnerabilities and build more resilient financial systems.

In a highly composable financial network like DeFi, the stability of one asset can influence the stability of the entire ecosystem.

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Global insurance broker Aon tests stablecoin payments on Ethereum, Solana with Coinbase, Paxos

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Global insurance broker Aon tests stablecoin payments on Ethereum, Solana with Coinbase, Paxos

Aon (AON), which advises on $5 trillion in assets as one of the world’s largest insurance brokers, said it carried out a proof-of-concept using stablecoins to settle insurance premium payments, an early sign that dollar-pegged tokens may start moving deeper into corporate finance.

The London-based company worked with crypto exchange Coinbase (COIN) and blockchain infrastructure firm Paxos to complete the transactions using Circle Internet’s (CRCL) USDC token on Ethereum and on Solana, according to a press release Monday.

Aon said the initiative marked the first known example of a major global insurance broker accepting stablecoins for premium settlement, even if only in a controlled demonstration.

While limited in scope, the exercise shows how stablecoins could simplify how large financial payments move through the insurance industry. Premiums today often pass through banks, whose clearing systems can take days to settle, especially across borders. Blockchain-based payments, proponents say, can move funds in minutes and leave a transparent record of the transaction.

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The timing also underscores how the $300 billion stablecoin asset class is becoming increasingly embedded into traditional finance as the regulatory backdrop improves. The U.S. Genius Act, passed in 2025, established a federal framework for stablecoin issuers and set rules around reserves and oversight. That clarity has encouraged banks, fintech firms and large companies to test how tokenized dollars might fit into existing financial plumbing.

“While broader adoption of stablecoins across corporate payments is still emerging, the long-term potential is significant,” John King, head of corporate portfolio strategy and treasurer for Aon, said in the statement.

“This work allows us to understand how these mechanisms operate within established systems and frameworks, so we are prepared to evaluate efficiency and cost-savings opportunities over time as the technology matures.”

Read more: Circle moves $68 million in just 30 minutes by using its own stablecoin for internal payments

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Bitcoin Slumps to $66K as Oil Breakout Adds Macro Pressure

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Bitcoin Slumps to $66K as Oil Breakout Adds Macro Pressure

Today’s Bitcoin (BTC) sell-off coincides with a massive breakout in crude oil prices, which surged past $110 per barrel on escalating Middle East tensions.

The original cryptocurrency briefly dropped down to $66,010 on Monday, marking a 10% slide from its March 5 peak of $73,670.

That energy shock is rattling risk assets globally. As oil costs climb 30% on the day, traders fear renewed inflation will force the Federal Reserve to keep interest rates elevated, draining liquidity from speculative markets.

Discover: The best pre-launch token sales

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Bitcoin and Stocks: Oil Prices are Recoupling Them

The correlation between Bitcoin and equities has tightened significantly, leaving the asset vulnerable to broader market panic.

The oil spike triggered immediate losses in Asia, where Japan’s Nikkei plunged 7% and South Korea’s KOSPI dropped 6% Monday. This risk-off shift has already impacted institutional flows. Bitcoin ETFs saw $576.6 million in net outflows late last week, adding sell-side pressure to the spot price.

That heavy selling aligns with broader cross-asset weakness. As Bitcoin price and stocks stabilize, the bond market continues to signal ongoing macro risk, suggesting the path of least resistance remains lower for now.

If risk assets continue to sell off, Bitcoin’s high correlation suggests it will struggle to find a floor independent of the stock market.

Technical Price Analysis: The Levels That Change Everything

The technical picture shows Bitcoin testing critical support levels after losing the $70,000 handle. The price is currently hovering near $66,000.

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The slide has brought Bitcoin back to levels seen before the recent surge.

If sellers push the price below $62,300, the chart structure risks a breakdown toward Fibonacci support levels at $56,800 or even $52,300.

Bitcoin Slumps to $66K as Oil Breakout Adds Macro Pressure

Bearish momentum is supported by the 50-day SMA at $77,200, which is currently acting as overhead resistance.

However, on-chain data offers a counter-narrative. Bitcoin is vanishing from exchanges, suggesting a potential supply shock could cushion the downside if long-term holders refuse to sell at these levels.

To invalidate the bearish structure, buyers need to reclaim the $72,600 level. Anything below that keeps the bears in control.

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Bitcoin Fears: Rising Oil Prices Drive a Hawkish Fed

The surge in oil is the primary headwind. Crude prices rose 72% in the past month, sparking fears that input costs will drive inflation higher across industries.

Former President Donald Trump commented that the spike is a “very small price to pay,” but for markets, the cost is liquidity. If energy prices bleed into CPI data, the Fed may be forced to hold rates higher for longer.

That policy risk puts a cap on upside volatility. Traders monitoring options expiry and max pain levels should expect continued chop as the market prices in a more hawkish Fed.

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Key Levels Summary

Resistance stands at $72,600. Bulls need to reclaim this level and the 50-day SMA to restart momentum.

The macro trigger remains crude oil at $110. Continued upside here exerts heavy pressure on risk assets and inflation expectations.

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Support sits at $60,000 to $62,300. A loss of this zone opens the door to $52,000 as the next major demand area.

The post Bitcoin Slumps to $66K as Oil Breakout Adds Macro Pressure appeared first on Cryptonews.

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Can v20.2 Protocol Update Push PI to $0.30?

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PI Exchange Supply


Check out what suggests that a major sell-off could be on the horizon.

The past several days have been quite successful for Pi Network’s PI, whose price spiked to a three-month high.

While some market observers believe the asset could post additional gains in the short term, certain indicators suggest it might be time for a sharp pullback.

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Back to Red Territory?

PI is the best-performing cryptocurrency (at least in the top 100) over the past week, with its valuation rising 30% during the period. A few days ago, it surpassed $0.23 for the first time since December last year, while it currently trades at around $0.21 (per CoinGecko’s data).

Its rally follows the latest updates announced by the Core Team. Recently, the protocol v19.9 migration was successfully completed, while the next version, v20.2, is scheduled for release around March 12 (just two days before Pi Day 2026). Another catalyst might have been the newly revealed case study showing that Pi Nodes could be used for distributed AI computing and model training.

However, two important factors suggest that the ascent may soon be replaced by a correction. Data shows that more than 6.2 million PI have been transferred to exchanges in the past 24 hours alone, thus bringing the total figure to almost 450 million. The majority of the coins (53%) are stored on Gate.io, whereas Bitget ranks second with approximately 148.8 million. This development doesn’t guarantee a short-term price decline but is often considered a pre-sale step.

PI Exchange Supply
PI Exchange Supply, Source: piscan.io

Next on the list is PI’s Relative Strength Index (RSI). It measures the speed and magnitude of recent price changes to help traders gauge whether the asset is on the verge of a turning point. The tool ranges from 0 to 100, with ratios above 70 indicating that PI has entered overbought territory and could be due for a pullback. Currently, the index stands at around 71.

PI RSIPI RSI
PI RSI, Source: RSI Hunter

More Gains Ahead?

Contrary to the worrying factors mentioned above, some X users remain optimistic that PI could be gearing up for an additional rally in the near future. The analyst, who goes by the moniker Vuori Trading, predicted a potential increase to $0.64, while ALTS GEMS Alert forecasted an ascent to as high as $0.30.

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The upcoming protocol update scheduled for later this week may give PI another boost, though there’s always the risk of a classic “sell-the-news” reaction, which investors should keep in mind.

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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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The 20 Millionth BTC Has Been Mined

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The 20 Millionth BTC Has Been Mined


Bitcoin’s network achieved one of the most significant milestones today.

The Bitcoin network has reached a massive milestone: the 20 millionth BTC has been officially mined. With its total supply permanently capped at 21 million, this moment marks a monumental step toward its permanent scarcity.

Moreover, the event highlights one of the network’s defining features: its transparency and predictability. Unlike traditional fiat currencies, which can be pretty much printed at will and indefinitely, BTC follows a very strict issuance schedule, hardcoded into its protocol. With Bitcoin, code is law, and this code cannot be changed (at least not without massive market turbulence and seismic shifts in the entire industry), and can be publicly verified by anyone interested.

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Digital Scarcity, but at a New Level

Data from BiTBO shows that 95.2% of Bitcoin’s total supply, representing exactly 20,000,018.75 BTC, has been mined at the time of this writing.

Source: BiTBO

The remaining one million coins will be increasingly difficult to mine because of how the network is structured to function. Halvings take place roughly every four years, which slashes the rewards miners receive for adding new blocks to the network by 50%. In essence, this reduces the fresh supply by half, hence the name. In other words, the more time passes, the harder it will become to mine BTC. In fact, some estimates predict that the last BTC will be mined in 2140.

All of this highlights one of Bitcoin’s core concepts – digital scarcity. That’s why many investors have been comparing it to gold – because of its limited and ever-decreasing supply.

But one thing that many tend to forget is that millions of BTC are believed to be permanently lost due to forgotten phrases, lost wallets, and more. this makes the situation even more constrained, putting the effective circulating supply significantly lower than 21,000,000.

What the Final Million Means

The last Bitcoin halving occurred in 2024, reducing the block reward from 6.25 to 3.125 BTC. The next one should take place in two years, effectively making BTC even scarcer.

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To put matters in perspective, only about 450 BTC (roughly) is mined daily, meaning that by 2030, only a tiny fraction of the remaining BTC will be in circulation.

This also means that miners, who secure the network and validate blocks, will be relying increasingly on the fees as the block reward continues to decline.

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How LeoVegas and ZunaBet Compare on Your Phone in 2026

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Fanatics and ZunaBet Face Off

The casino in your pocket matters more than the one on your desktop. That shift happened years ago, and every serious operator knows it. Mobile is where most sessions start, most bets are placed, and most withdrawals are requested. LeoVegas recognised this earlier than most and built a brand around it. ZunaBet arrived in 2026 with native apps and a platform that was designed for mobile from the first sketch. Both platforms take mobile seriously, but what they deliver through those mobile experiences differs in ways that matter to anyone who primarily gambles from their phone. Here is how they stack up.


LeoVegas: The Brand That Made Mobile Its Identity

LeoVegas launched in 2012 with mobile gambling as its defining mission. Founded in Sweden, the company secured licenses from the UK Gambling Commission, Malta Gaming Authority, and other regulatory bodies as it expanded across European markets. MGM Resorts International acquired the company in 2022, placing it within one of the largest gambling groups on the planet.

The mobile product has always been the headline. LeoVegas invested in native app development and mobile-optimised interfaces from the outset, building a reputation for smooth performance, clean design, and intuitive navigation on phones and tablets. For years, it was the benchmark other mobile casinos were measured against.

The game library brings together slots, table games, live dealer experiences, and some exclusive titles secured through provider partnerships. NetEnt, Microgaming, Play’n GO, Evolution, and other reputable studios supply content that typically numbers in the low thousands depending on market. It is a well-curated collection that prioritises quality over sheer volume.

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A sportsbook covers major sports including football, tennis, basketball, ice hockey, and horse racing. It integrates with the casino account and provides a serviceable betting option, though it has always served as a supporting product to the casino.

Payments process through traditional infrastructure. Visa, Mastercard, Trustly, Skrill, Neteller, bank transfers, and other standard methods handle deposits and withdrawals. E-wallets provide the fastest cashout route while bank methods extend across business days. The system is dependable but bound by the speed constraints that all traditional payment networks impose.

Loyalty at LeoVegas has taken different forms across markets and over time, particularly since the MGM acquisition. Promotional campaigns, VIP tiers, free spin offers, and seasonal deals form the bulk of the reward experience. The approach provides value in waves that fluctuate with the promotional schedule and vary based on where the player is located.


ZunaBet: Mobile-Native With Crypto at the Core

ZunaBet launched in 2026 under Strathvale Group Ltd, holding an Anjouan gaming license and built by a team with over 20 years of combined gambling experience. The platform was designed on crypto-native infrastructure from the ground up, and mobile was embedded into the architecture from day one rather than treated as a secondary adaptation. Native apps for iOS, Android, Windows, and MacOS deliver an experience that was purpose-built for each platform rather than stretched across them.

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The interface runs a dark theme with responsive design and fast loading across all screen sizes. Performance on a phone matches what the platform delivers on a desktop monitor. In 2026, that kind of parity should be standard, but many platforms still deliver a compromised experience on smaller screens. ZunaBet does not.

ZunaBet Website
ZunaBet Website

What sits behind that interface is where the real separation begins. ZunaBet carries 11,294 games from 63 providers. Pragmatic Play, Evolution, Hacksaw Gaming, Yggdrasil, and BGaming lead the provider list, supported by more than fifty additional studios contributing to a catalog that spans slots, live dealer tables, and RNG games with exceptional breadth. Every title is accessible through the mobile apps, meaning a player’s phone connects them to one of the largest game libraries in the crypto casino space.

Sports betting runs as a standalone product within the same app. Football, basketball, tennis, hockey, and mainstream international sports receive full coverage. Esports are integrated as a primary category with betting markets on CS2, Dota 2, League of Legends, and Valorant. Virtual sports and combat sports push the breadth further. Switching between casino and sportsbook on mobile is seamless, which matters for players who move between the two throughout the day.

Payments operate entirely on crypto. Over 20 coins are supported including BTC, ETH, USDT across multiple chains, SOL, DOGE, ADA, XRP, and many more. Zero platform fees. Blockchain-based withdrawals process without bank involvement, without business hour limitations, and without geographic speed differences. On mobile, this translates to deposits and withdrawals that process as quickly and simply as any other transaction a player performs on their phone throughout the day.

Zunabet eSports
Zunabet eSports

The welcome package reaches up to $5,000 plus 75 free spins over three deposits. First deposit matches at 100% up to $2,000 with 25 spins. Second at 50% up to $1,500 with 25 spins. Third at 100% up to $1,500 with 25 spins. The entire bonus process works smoothly through the mobile apps.

Live chat support runs around the clock and is accessible from within the app at all times.

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What Mobile Actually Gives You Access To

LeoVegas proved that a mobile casino could deliver a premium experience. In 2012, that was a genuine innovation. The app was fast, the games loaded well on the devices of the era, and the interface felt designed for thumbs rather than mouse clicks. That head start built a brand identity that has persisted for over a decade.

But the mobile landscape in 2026 is fundamentally different from 2012. Smooth app performance is a minimum expectation, not a differentiator. Every major operator offers it. The question that matters now is what a player can do through that smooth interface, and this is where ZunaBet opens up a significant lead.

Zunabet Mobile
Zunabet Mobile

Over 11,000 games accessible on mobile versus a couple of thousand through LeoVegas. A fully integrated sportsbook with native esports coverage versus a companion betting feature. Real-time crypto payments from a phone screen versus traditional banking timelines that no amount of mobile optimisation can accelerate. The mobile experience at ZunaBet is not just polished — it connects to fundamentally more content, faster payments, and a broader betting product than what LeoVegas currently offers.


Earning Rewards From Your Phone

Mobile players tend to play in shorter, more frequent sessions spread throughout the day. That pattern makes the loyalty model particularly important because the return needs to accumulate meaningfully across many smaller interactions rather than a few large ones.

LeoVegas distributes rewards through promotional offers and VIP treatment that varies by market. Free spins drops, deposit matches, and seasonal campaigns rotate in and out. VIP players get personalised attention. The value is real when it appears but depends on timing and location. A mobile player who opens the app on a day when no relevant promotion is running gets nothing extra for their session.

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ZunaBet guarantees a return on every session through its dragon evolution loyalty program. Six tiers from Squire at 1% rakeback to Ultimate at 20% assign every player a permanent return rate. A dragon mascot called Zuno evolves visually through each tier. Higher levels unlock up to 1,000 free spins, VIP club access, and double wheel spins.

Zunabet VIP

For the typical mobile player who logs in frequently throughout the week, rakeback at a known rate means every single session generates a measurable return. There are no promotional gaps, no market-specific availability issues, and no need to check whether an offer is live before playing. The accumulation is automatic and continuous. Over the course of a month of regular mobile play, the difference between structured rakeback and intermittent promotions translates directly into more money returned to the player.


Mobile Payments: Convenience Redefined

The promise of mobile gambling is convenience — play anywhere, anytime. But that promise breaks down at the cashier if withdrawals take days to process regardless of how quickly the rest of the app performs.

LeoVegas handles mobile payments through traditional channels. Deposits are generally quick. Withdrawals follow the usual pace — e-wallets in hours, banks and cards in days. The mobile interface for initiating these transactions is well-designed, but good design cannot override the processing timelines imposed by the financial institutions behind the scenes.

ZunaBet makes mobile payments match the speed of everything else on the platform. A deposit from a crypto wallet to the app takes moments. A withdrawal from the app to a wallet processes on-chain without waiting for institutional approval. No fees. No delays tied to business hours or geography. The entire financial cycle — deposit, play, withdraw — can happen within a single mobile session. That level of financial fluidity on a phone is something traditional payment infrastructure is not equipped to deliver.

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For players who want their mobile casino to be as fast and frictionless as every other app on their phone, ZunaBet delivers that experience while traditional platforms remain limited by the banking systems behind their interfaces.


Which Mobile Experience Wins in 2026

LeoVegas earned its place in mobile gambling history by being first to take it seriously. The app remains polished, the brand carries MGM backing, and players who prefer traditional banking and established European regulation still have a quality mobile product. That foundation matters.

But being first to take mobile seriously is not the same as offering the best mobile experience today. ZunaBet’s native apps connect players to over 11,000 games, a complete sportsbook with esports, instant crypto payments, and transparent rakeback up to 20%. Every feature works natively on mobile without compromise. The content is deeper, the payments are faster, the rewards are more consistent, and the total package is simply larger than what LeoVegas currently puts in a player’s hand.

LeoVegas showed the industry what mobile gambling could be. ZunaBet is showing what it should be in 2026. For mobile players choosing where to play right now, the platform that delivers the most complete experience on their phone is the one that deserves their attention — and by every measurable standard, that platform is ZunaBet.

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Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

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