Crypto World
Why Coinbase Users Haven’t Got Super Bowl Payouts
Coinbase is facing mounting criticism from users after many participants in its Super Bowl “Big Game Challenge” prediction market contest reported delayed or missing payouts, even after qualifying for shares of the advertised Bitcoin prize pool.
Community complaints and technical issues highlight the growing pains of prediction markets as they surge in popularity while confronting regulatory, operational, and infrastructure challenges.
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Coinbase Payout Issues Highlight Prediction Markets’ Growing Pains
On Reddit and other forums, users described confusing and frustrating experiences with the payout process. Reportedly, some users correctly predicted outcomes in the Big Game but “still haven’t been paid.
Others reported winnings showing briefly in their account balances before disappearing without explanation, or payouts reflected in USD without transferability or access.
Amidst these frustrations, some are calling the situation a “rug pull,” claiming Coinbase’s app initially confirmed a win after five correct picks, the threshold for eligibility, only for a later email to declare they had not won.
“According to the Coinbase app, I had won the Big Game Predictions with 5 correct predictions with $5 bet on each prediction. It told await my payout. However, I just received an email from Coinbase stating that I did not win. Does anyone else feel like this was a rug pull or a scam in some way? They said.
However, support responses seen in some threads indicate that rewards are being held until all prediction markets and mail‑in entries are settled, in line with the contest’s official rules.
Coinbase has previously said winners will receive Bitcoin rewards directly into their accounts by February 23, 2026.
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However, the lack of transparency and account migrations has frustrated users trying to confirm settlement status.
“We completely understand how important this is to you. Verified winners will receive their prize directly into their Coinbase account. The prize amount will be a share of $1,000,000 in Bitcoin, divided equally among all winners. Prizes are expected to be fulfilled no later than February 23, 2026,” Coinbase explained.
Infrastructure Strains, Regulatory Hurdles, and the Rising Stakes for Crypto Prediction Markets
The timing of these complaints coincides with broader strains in crypto-linked prediction markets. Partner platform Kalshi, which provides the backend for Coinbase’s event contracts, suffered deposit and transaction delays during the Super Bowl due to overwhelming traffic.
“Kalshi does all this ad investment just for their app, not to let you deposit on Super Bowl Day, sounds about right,” one user lamented.
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Kalshi co-founder Luana Lopes Lara acknowledged slowdowns but assured users that funds were “safe and on the way.
These operational stretches highlight how infrastructure designed for everyday trading may struggle with spikes tied to major events.
Similar technical pressure was observed across the industry on prediction markets during the championship. This suggests systemic scalability challenges for platforms offering event contracts under high demand.
The Coinbase backlash arrives amid a broader regulatory and legal battleground. State gaming regulators, such as the Nevada Gaming Control Board, have sued Coinbase to block its prediction markets. They argue that they constitute unlicensed sports wagering.
These legal actions fuel uncertainty around the regulatory status of event contracts, complicating rollout and user experiences.
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Meanwhile, critics from within the crypto community note that prediction markets must mature beyond short-term speculative betting.
Voices like Ethereum co-founder Vitalik Buterin have warned that over-reliance on speculative contracts may create products lacking deeper utility, urging a focus on hedging and risk‑management applications.
The current Coinbase backlash highlights the operational and communication gaps that can accompany rapid product expansion.
Large Bitcoin holders have started accumulating again as the cryptocurrency trades near the $71,000 level, according to new data from crypto analytics firm Santiment.
Key Takeaways:
- Bitcoin whales holding 10–10,000 BTC have resumed accumulation as the price stabilizes near $71,000.
- These large wallets now control about 68.17% of Bitcoin’s total supply, signaling renewed confidence among major holders.
- Analysts warn a confirmed market bottom may depend on retail investors beginning to sell rather than continue buying.
The platform reported that wallets holding between 10 and 10,000 Bitcoin have increased their share of the total supply over the past week, signaling renewed confidence among major investors.
These wallets now control about 68.17% of Bitcoin’s circulating supply, up slightly from 68.07% seven days earlier.
Bitcoin Whale Accumulation Signals ‘Positive Reversal’: Santiment
Santiment described the shift as a “positive reversal,” suggesting that larger holders may be positioning for a potential rebound.
The accumulation trend comes as Bitcoin stabilizes near $71,000 following recent volatility in the broader crypto market.
Bitcoin was trading around $71,350 at the time of publication, up roughly 6% over the past week and more than 7% over the past 30 days, according to CoinMarketCap data.
Analysts are closely watching the behavior of both large holders and retail investors for signals about where the market could move next.
Santiment noted that Bitcoin has historically found local bottoms when coins flow from smaller retail wallets to larger long-term holders.
— Santiment (@santimentfeed) March 14, 2026
Based on available tracked wallets, the percentage of Bitcoin on exchanges has dropped to its lowest level since November, 2017. In the over eight years since, it's fair to say that quite a bit has changed in both crypto and the world. pic.twitter.com/Sb9psThlvW
“Ideally, we want to see small wallets drop while this group rises,” Santiment said, referring to the transfer of coins from short-term traders to larger, more patient investors.
However, the firm warned that the market may still face uncertainty if retail enthusiasm continues.
Historically, Bitcoin tends to bottom when retail investors become pessimistic and start selling, not when optimism remains widespread.
Sentiment indicators reflect that mixed outlook. The Crypto Fear & Greed Index remained in the “Extreme Fear” category at 16 on Sunday, showing that many investors are still cautious despite the recent price recovery.
The latest accumulation trend follows a period of heavy selling earlier in March.
On March 6, Santiment reported that large Bitcoin holders had sold about 66% of the BTC they accumulated between Feb. 23 and March 3 as prices surged past $70,000 and briefly touched $74,000.
Bitcoin May Still Be in Bear Market Phase: Willy Woo
Some analysts remain cautious about declaring a definitive market bottom.
Onchain analyst Willy Woo recently argued that Bitcoin may still be in the middle of a longer bear-market phase when viewed through the lens of long-term liquidity cycles.
As reported, Bitcoin’s price is showing signs of stabilizing near the $70,000 level as fears of a broader conflict involving Iran begin to ease.
The recovery follows a sharp multi-week selloff that coincided with rising oil prices and worsening macro sentiment, which had pushed Bitcoin down toward the $63,000–$66,000 range during the peak of geopolitical tensions.
Markets have started to recover as energy prices cooled after comments suggesting the conflict could de-escalate. Risk assets responded quickly, with the S&P 500 gaining while Bitcoin rose about 4% on the daily chart.
Meanwhile, institutional flows appear to be strengthening. US spot Bitcoin exchange-traded funds recorded their first five-day inflow streak of 2026 this week, attracting about $767 million in fresh capital.
The post Large Bitcoin Wallets Resume Accumulation as BTC Holds $71K: Santiment appeared first on Cryptonews.
Traditional altcoin cycles, which featured broad market rallies called “altseason,” are now a relic of the past as new crypto market dynamics set in, according to Andrei Grachev, Managing Partner of DWF Labs, a crypto market maker and investment firm.
Too many tokens competing for limited capital and mindshare, a smaller number of market participants, and crypto exchange-traded funds (ETFs) altering market dynamics by trapping liquidity are driving factors of the disruption, Grachev told Cointelegraph.
An institutional focus on large-cap digital assets like Bitcoin (BTC), Ether (ETH) and tokenized real-world assets (RWAs) is also diverting capital and attention away from altcoins, he said.
“The long tail of tokens will still exist, but will largely function as high-risk venture or casino-style plays. The capital is not going to keep expanding fast enough to support all of it,” Grachev said. He added:
“That means shorter narrative windows, more violent rotations, and less room for weak projects to survive on hype alone. The market is moving away from broad altcoin rallies and toward more selective moves in specific sectors.”
Matt Hougan, the chief investment officer at investment firm Bitwise, also said traditional altcoin cycles are over, and that institutional investors are focused on yield-bearing digital instruments or crypto assets that capture revenue.
Related: Bitcoin leads, altcoin indicators drop to intriguing lows: Time for an altseason?
The altcoin market cap has taken a beating since the October 2025 market crash
38% of altcoins are near all-time lows, according to CryptoQuant analyst Darkfost, who said this is worse than the post-FTX market crash.
“Liquidity is becoming increasingly diluted by the growing number of projects and tokens entering the market,” he told Cointelegraph.
Over $209 billion has exited the altcoin market over the last 13 months. The altcoin market cap briefly tapped a high of $1.19 trillion in October 2025, before the market crash dragged it back down to about $719 billion.
Meanwhile, inflows into Bitcoin ETFs remain strong, with five days of positive inflows, according to data from fund manager Farside Investors, while altcoin ETFs continue to experience outflows.
Magazine: Altcoin season 2025 is almost here… but the rules have changed
While the DC Blockchain Summit proceeds in Washington, the premier Dubai crypto conference, Token2049, has had to reschedule, a casualty of the escalating Iran War.
The divergence is stark: while one jurisdiction debates stablecoin legislation, the other is dodging missile debris.
Dubai Collapse: What the War Did to the Middle East Crypto Circuit
It appears that crypto events in the Gulf have effectively frozen. According to reporting from the Wall Street Journal on March 13, Dubai’s flagship crypto conference, Token2049, was scrapped entirely as regional tensions spiked.
According to WSJ’s reportage, organizers cited “uninsurable physical risk” following strikes near key logistics hubs.
However, an announcement today by the organizers suggests Token2049 Dubai will be rescheduled to April 21-22. Registered ticket holders don’t need to take any further action.
For years, Dubai positioned itself as the neutral, regulation-light sanctuary for digital assets. That thesis is currently suspended.
While energy markets react to oil surging past $100, the liquidity that fuels the Gulf’s crypto ecosystem is pausing.
Venture firms are grounded. The hub status is intact in theory, but operationally paralyzed in practice.
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DC Holds: The Regulatory Advocacy Machine Keeps Running
In stark contrast, the Digital Chamber is moving forward with its mid-March summit in Washington, D.C.
The event is set to feature SEC Chairman Paul Atkins and key congressional figures, focusing on the very operational clarity the Middle East currently lacks. The agenda has shifted from defensive lobbying to proactive structural design.
The summit serves as the physical staging ground for the recently signed SEC-CFTC coordination deal, a framework that requires industry feedback to function.
By maintaining the schedule, Washington is broadcasting that its regulatory apparatus is insulated from the chaos abroad. The policy machine is not just running; it is accelerating while competitors stall.
What the Postponement in Dubai Implies About the Crypto Global Map
The trade has flipped. For the last cycle, the “regulatory risk” was in the U.S. and the “growth opportunity” was in Dubai. The Iran conflict has inverted that risk premium overnight.
Institutional capital abhors physical insecurity even more than it dislikes regulatory red tape.
JPMorgan analysts noted a divergence in Bitcoin and Gold ETFs recently, where capital has been leaving gold and flowing into Bitcoin funds. If the Middle East cannot guarantee the physical safety of the dealmakers, the liquidity will route back to New York and London.
Bitcoin vs gold ETF flows diverge
@jpmorgan analysts say since the Iran war:
• Largest gold ETF GLD saw 2.7% of AUM outflows
• Largest bitcoin ETF IBIT saw 1.5% of AUM inflows
The analysts also noted signs of bitcoin volatility compressing as institutional ownership… pic.twitter.com/oLvxrT83PK— Yogita Khatri (@Yogita_Khatri5) March 12, 2026
Washington is suddenly the stable option. The DC Blockchain Summit represents a jurisdiction where the risks are legal and bureaucratic, not kinetic.
Investors are pricing in the reality that while U.S. regulation is under strenuous debate, the grid stays on and the ports remain open.
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What to Watch Next
Watch the legislative output from the Digital Chamber’s sessions. If specific language regarding the CLARITY Act emerges from the summit, it confirms the U.S. is using this window to cement its lead.
𝐈𝐭'𝐬 𝐜𝐨𝐦𝐢𝐧𝐠. — Chiliz – The Sports Blockchain (@Chiliz) March 12, 2026
Chiliz is the main sponsor of the @DigitalChamber Blockchain Summit in Washington, DC. https://t.co/kb7mQewE3A pic.twitter.com/EaBTxjpRK7
Monitor the Dubai organizers for rescheduling dates. A push to Q4 2026 suggests they see the conflict as a long-term disruption, further damaging Q2 capital flow.
Finally, watch for Senate sponsors joining crypto bills post-summit. If political capital aligns with the industry’s flight to safety, the U.S. regulatory moat will be wide.
The post DC Blockchain Summit Pushes On as Dubai Crypto Events Fall to Iran War appeared first on Cryptonews.
Key Takeaways
- BTC experienced an initial 8.5% decline at the onset of U.S.-Iran hostilities but has recovered approximately 11% from its nadir.
- Successive conflict escalations have prompted temporary selloffs, yet purchasing activity emerges at progressively elevated price points.
- Bitcoin’s performance has surpassed both gold and the S&P 500 during the identical fourteen-day timeframe.
- Major Bitcoin holders (whales) have resumed accumulation around the $71,000 mark, now possessing 68.17% of circulating supply.
- Blockchain analytics indicate minimal selling pressure between present levels and approximately $82,000.
Bitcoin’s current market valuation stands at $71,500.
Hostilities between the U.S. and Iran commenced on Saturday, February 28. As the sole major trading market operating that day, Bitcoin experienced an 8.5% correction down to $64,000—marking its cycle bottom.
Fast forward fourteen days, and the landscape has transformed considerably.
BTC has surged approximately 11% from that trough, currently exchanging hands near $71,500. During this identical period, gold has exhibited extreme volatility, the S&P 500 has declined, and Asian stock markets endured their most severe weekly losses since 2020. Only crude oil—surging over 40%—and the greenback have exceeded Bitcoin’s gains. Both assets benefit directly from wartime conditions.
Progressive Support Levels Following Each Dip
Each military escalation since late February has initiated a Bitcoin price retreat. However, purchasing power has consistently materialized at increasingly higher thresholds.
Following Iran’s counter-strike missile barrage on March 2, BTC stabilized at $66,000. After seven consecutive days of sustained military operations on March 7, the floor elevated to $68,000. In response to commercial tanker incidents on March 12, Bitcoin maintained $69,400. Post-Kharg Island offensive on March 14, support crystallized at $70,596.
This pattern reveals ascending support increments of approximately $1,000–$2,000 following each geopolitical development.
Simultaneously, Bitcoin has encountered resistance near the $73,000–$74,000 zone on four separate occasions. This upper boundary remains intact. Market dynamics suggest an impending resolution—either BTC penetrates the $74,000 threshold, or intensified conflict finally overwhelms demand.
Earlier in 2026, a rapid liquidation cascade eliminated $2.5 billion in leveraged positions during a single weekend session, forcing Bitcoin down to $77,000. That purge appears to have eliminated excessive leverage, creating a market structure better equipped to withstand repeated conflict-related news without comparable disruption.
Whale Accumulation Pattern Emerges, Blockchain Metrics Suggest $82K Target
Analytics from cryptocurrency intelligence platform Santiment reveal substantial Bitcoin wallets—those containing 10 to 10,000 BTC—have reinitiated accumulation strategies around $71,000.
These addresses now command 68.17% of Bitcoin’s aggregate supply, increasing from 68.07% seven days prior. Santiment characterized this movement as a “positive reversal.” The analytics firm monitors retail investor behavior, as historical patterns indicate their capitulation often coincides with cyclical bottoms.
The Crypto Fear & Greed Index registered 16 on Sunday—deep within “Extreme Fear” territory.
U.S. spot Bitcoin ETFs recorded their inaugural five-consecutive-day inflow sequence of 2026 this week, attracting approximately $767 million in fresh capital.
Blockchain analyst Ali Martinez, referencing the UTXO Realized Price Distribution framework, identified minimal resistance between current valuations and approximately $82,045. The $74,000 rejection area, he observed, demonstrates sparse investor cost-basis density, implying it may prove less formidable than technical charts suggest.
The subsequent major support beneath current trading ranges appears around $66,898.
Bitcoin has appreciated 7.55% across the trailing 30-day period. BTC presently trades at $71,500.
Crypto World
Solana Foundation President Lily Liu: DeFi Is What Gives Blockchain Its True Economic Purpose
TLDR:
- Lily Liu says DeFi is the primary economic engine that gives non-Bitcoin blockchains a reason to exist.
- Liu draws on ancient and modern history to argue no vision reaches scale without a strong economic engine.
- Networks must be neutral, global, and performant to deliver open financial access to 5.5 billion users.
- Liu separates corporate blockchain infrastructure from open systems, calling the divide philosophical, not technical.
Solana Foundation President Lily Liu has made a bold case for decentralized finance as the backbone of every blockchain network.
In a recent post, Liu argued that DeFi is not a standalone application category within the crypto space. Instead, she positioned it as the primary economic engine that gives non-Bitcoin blockchains their reason to exist.
Her statement has drawn attention across the industry for its direct framing of blockchain’s core purpose and long-term direction.
Liu Ties Blockchain’s Future to Economic Strength and Open Access
Liu opened her argument by revisiting the original vision behind blockchain technology. That vision has carried several names over the years.
She wrote that terms like “open finance, decentralized finance, internet of money, tcp/ip for money” all point to the same goal. The aim has always been moving financial infrastructure from analog to digital for 5.5 billion internet users.
She anchored her position in historical patterns from both ancient and modern periods. No major vision, she argued, has reached scale without a strong economic engine driving it.
“Look around in history both ancient and modern,” Liu wrote, “and there is not a single vision that has reached scale without an economic engine underwriting it.”
Ancient empires underwrote major religions, and successful city-states built economies before extending influence outward.
Liu was direct in connecting that history to blockchain ecosystems today. She stated that “the path to self-sovereignty is based on a strong and differentiated economy.”
For her, DeFi represents that differentiated economy. It gives non-Bitcoin networks a real and defensible reason to grow beyond speculation.
For blockchain to reach 5.5 billion users, Liu added that networks must be “neutral, global, and performant.” They must also remain committed to open systems that protect self-sovereignty at every layer.
Economic strength matters, but structural openness must accompany it. Together, those qualities define what a legitimate blockchain network looks like.
Corpo Infra Versus Open Systems: A Fundamental Divide
Liu also drew a clear distinction between corporate blockchain infrastructure and genuinely open systems. She acknowledged that corporate infrastructure benefits from significant distribution at launch.
However, she argued it “ultimately serves the same ownership structures and private interests that characterize finance today.” That characteristic separates it from blockchain’s founding mission.
Liu was careful not to dismiss corporate infrastructure entirely. She noted these projects “may have their role” and can “certainly creating value for their owners.”
Still, she was firm that they should not be treated as legitimate inheritors of blockchain’s original ethos. That distinction, for her, carries real weight across the entire industry.
She described blockchain’s true ethos as “self sovereignty, open access, radically equal opportunity served to the broadest set of humanity reachable in an instant.” Those principles, she argued, are incompatible with private ownership structures.
Any infrastructure that concentrates control or restricts access contradicts that original commitment. The divide between open systems and corporate infrastructure is, in her view, philosophical rather than technical.
Her framework places DeFi at the center of how blockchain fulfills its original promise. Networks that remain neutral and open are better positioned to carry that mission forward at scale.
Those who prioritize private interests instead risk becoming mirrors of the very financial systems blockchain set out to transform.
Crypto World
Solana (SOL) Flashes First Bullish Signal in Two Months While Grayscale Eyes Opportunity
TLDR
- The SuperTrend indicator for Solana turned bullish on March 13, marking the first positive signal since early January.
- The asset has declined approximately 67% from its September 2025 all-time high, currently trading around $88–89.
- Broader weekly technical metrics remain negative, with 15 out of 17 indicators showing sell signals.
- Grayscale’s research division highlighted SOL as an attractive opportunity at current valuation levels.
- Total cumulative inflows into Solana Spot ETFs have reached $961–$968 million, though weekly momentum has decelerated significantly.
Solana (SOL) has generated its first positive technical indicator reading in approximately two months, despite the overall chart structure continuing to show bearish characteristics. This development has captured the interest of both market analysts and institutional observers.
Following a peak above $240 in late 2025, SOL commenced a prolonged downward trajectory. The cryptocurrency breached successive support zones before establishing a base in the $67–$80 zone during early 2026.
Throughout the last four weeks, Solana has consolidated within a $76 to $90 range. The token briefly exceeded $90 on two occasions in March, with the most recent push aligning with the SuperTrend buy signal appearing on the daily timeframe.
Understanding the SuperTrend Signal
The SuperTrend is a momentum-based technical indicator that determines trend direction by analyzing price action and volatility metrics. Crypto analyst Ali Martinez identified the bullish crossover on March 13 through X.
For the first time since early January, the SuperTrend indicator has turned bullish on Solana $SOL. pic.twitter.com/oCv8A6R93r
— Ali Charts (@alicharts) March 13, 2026
This marks the first time the indicator has shown a bullish configuration since the beginning of January. A bearish signal emerged in early February, coinciding with SOL’s descent to $67.
While the signal suggests potential near-term upward momentum, it doesn’t necessarily confirm a long-term trend reversal. The indicator is susceptible to false readings, and the overall technical landscape presents a more complex scenario.
$SOL/monthly
Textbook Cup and Handle pattern on #Solana 📈
Nothing complicated here — just follow basic TA. The pattern is clear, the setup is bullish.
The only question is whether you have the faith to act on it 💭 pic.twitter.com/vnNEAp1bzy
— Trader Tardigrade (@TATrader_Alan) March 13, 2026
Weekly chart analysis on TradingView reveals 15 indicators generating sell signals versus only 2 buy signals. All significant moving averages remain positioned above current price levels. The EMA10 stands at $98.47, the SMA200 at $103.70, and the EMA200 at $119.62 — each indicating downward pressure.
The Relative Strength Index reads 32.34, nearing but not yet entering oversold conditions. The MACD displays a negative reading of -23.70.
Technical experts suggest SOL would need to recover above the SMA200 level of $103.70 at minimum to signal a meaningful structural change.
Institutional Perspective from Grayscale
On March 13, Grayscale’s Head of Research Zach Pandl released a comprehensive six-point analysis supporting investment in SOL, highlighting the approximately 67% decline from September 2025 peaks as an attractive accumulation zone.
Grayscale has more than a few reasons why we’re so optimistic about @solana‘s future.
1️⃣ Leader in users, transactions & fees
2️⃣ Positioned for growth amid regulatory clarity
3️⃣ Staking rewards for network participation
4️⃣ ~67% below Sept 2025 highs
5️⃣ Strong network effects
6️⃣… pic.twitter.com/TAO08npACg— Grayscale (@Grayscale) March 13, 2026
Pandl emphasized Solana’s dominant position in user activity, transaction volume, and fee generation among smart contract platforms throughout the previous year. He also noted evolving regulatory frameworks for stablecoins and asset tokenization as favorable catalysts.
Daily inflows into Solana Spot ETFs reached $7.60 million on March 13, entirely attributable to Bitwise’s BSOL product. Aggregate net inflows across all listed Solana ETF products currently range between $961 and $968 million, with combined net assets totaling approximately $824–$855 million.
However, weekly ETF inflow momentum has experienced a substantial decline. Total weekly inflows registered just $3.10 million — representing an 83% decrease compared to the previous week.
SOL currently changes hands at approximately $88.95, showing a 2.8% increase over the last 24 hours and an 11.15% gain across the past 30 days. The cryptocurrency maintains a total market capitalization of roughly $54.74 billion, securing the seventh position among all digital assets.
TLDR:
- Pi Network launched its Token Launchpad MVP on Testnet, requiring projects to have working apps before issuing tokens.
- Protocol 20 upgrade gives the Pi blockchain the technical foundation needed to support smart contract functionality.
- The first KYC validator reward round distributed Pi at 0.0504 Pi per validation, 21 times the base mining rate.
- Kraken has officially integrated Pi Network after passing the platform’s required KYB verification process for exchanges.
Pi Network celebrated its seventh official anniversary on Pi Day 2026 with a broad set of ecosystem releases. The announcements covered infrastructure upgrades, token launch capabilities, exchange listings, and validator rewards.
These updates expand how Pioneers and developers can contribute to and participate in the network. The releases also introduced a Pi Day Utility Challenge, encouraging community engagement across newly available features.
Together, they mark continued progress toward a utility-driven and widely accessible cryptocurrency platform.
Token Launchpad and Protocol Upgrades Advance the Ecosystem
The Pi Launchpad MVP has launched on Testnet, introducing a structured mechanism for ecosystem token issuance.
Projects using the platform must have working applications before launching tokens, ensuring immediate utility at launch.
Pi proceeds from each token launch flow into liquidity pools rather than going to the issuing project directly. This approach supports healthy decentralized exchange activity within the Pi ecosystem.
All major Pi nodes have been upgraded to version 20.2, now supporting protocol 20. This upgrade provides the technical foundation required to enable smart contract capabilities on the blockchain.
Smart contract categories, including subscriptions, escrow, and NFT-related contracts, will be prioritized based on utility-driven product needs. Several contracts are currently undergoing external audits before progressing to Testnet deployment.
PiCoreTeam announced: “Happy Pi Day 2026, Pi Network’s 7th official anniversary! Today’s releases introduce new ecosystem capabilities and expand how Pioneers can build, participate, and engage with Pi.”
Updates to the Pi Wallet and Pi SDK will also follow to support the new smart contract functionality. These changes aim to ensure seamless integration between on-chain logic and user-facing applications.
Mainnet deployment of smart contracts will occur after successful Testnet testing and community review. The pace of rollout will reflect real utility needs arising from the ecosystem.
Second Migrations, Validator Rewards, and Kraken Listing Expand Participation
Second migrations have begun, allowing previously migrated Pioneers to bring additional Pi balances to Mainnet. Before migrating, Pioneers must complete two-factor authentication through Step 5 of the Mainnet Checklist.
This requirement exists because blockchain transactions are permanent and cannot be reversed. Referral mining bonuses tied to KYC-verified team members will also be included in second migrations.
Pi distributed the first round of KYC validator rewards, covering contributions recorded through March 5, 2026. The reward pool contained 16,568,774 Pi from migrated Pioneers, later supplemented by 10 million Pi from the Pi Foundation.
Dividing the total pool across 526,970,631 successful validations produced a price of approximately 0.0504 Pi per validation. That rate is 21 times the current base mining rate, reflecting the scale of the validation work done.
Over 1,094,680 human validators contributed to the KYC process, completing more than half a billion tasks collectively.
The Pi Foundation supplemented this round to account for early validations used to train the validator workforce.
Future reward rounds may incorporate additional criteria around validator accuracy and consistency. New Pi entering the pool and new validations will be factored into subsequent distributions.
Centralized exchange Kraken has integrated support for Pi following the network’s KYB verification process for external services.
This listing broadens access to Pi and connects the network with a wider segment of the crypto market. Third-party platforms that pass Pi’s verification requirements may also integrate in the future. This external connectivity supports the network’s goal of broader adoption.
Pi App Studio Reaches Mainnet and Launches Utility Challenge
Pi App Studio now supports Mainnet apps and live Pi payment integration for select qualifying applications. Four apps have been invited to transition from Testnet to Mainnet based on quality, utility, and ecosystem compliance.
Creators whose apps meet eligibility criteria can now receive real Pi payments directly through the blockchain. This shift moves App Studio from experimentation toward generating sustainable creator income.
Persistent payment integration is also now available within App Studio on both Testnet and Mainnet. Previously, in-app purchases applied only during a single active session and expired when the user exited.
Now, purchases such as premium access or feature unlocks carry over across multiple future sessions. This enables creators to build longer-lasting, more engaging application experiences for Pioneers.
The Pi Day Utility Challenge launched alongside these releases, offering Pioneers a structured way to explore new features. The checklist guides users through ecosystem tools, newly released products, and Pi utility applications.
Completing all tasks earns a Pi Day badge visible on Pi Chats and Pi Social Profiles. This gamified approach encourages hands-on discovery of the ecosystem’s growing range of utilities.
The Open Network Anniversary raffle, which began with the community badge initiative, concluded on March 14. A total of 150 winners will be selected randomly and contacted through the official Pi support email.
Pioneers are advised to verify sender addresses carefully and consult the Pi Safety Center to avoid scams. Official communications will come only through verified Pi Network channels.
Key Takeaways
- Reports suggest Coinbase may be pursuing a significant investment stake in Bybit, a leading offshore cryptocurrency exchange.
- No official confirmation has been issued by Coinbase or Bybit regarding the potential transaction.
- Market analysts estimate Bybit’s valuation at approximately $25 billion, drawing parallels to the recent ICE-OKX transaction.
- COIN shares finished trading at $195.53, marking a 1.18% increase, with monthly gains approaching 20%.
- A potential partnership could provide Bybit with regulatory access to operate within the United States market.
According to a social media post from Wu Blockchain on X, Coinbase is allegedly engaged in investment discussions with Dubai-headquartered Bybit. Both parties have remained silent on confirming or denying these reports.
Should this transaction materialize, it would potentially offer Bybit a compliant entry point into the US cryptocurrency market, where regulatory hurdles have previously limited its operations.
Bybit ranks among the world’s top cryptocurrency trading platforms by volume. Breaking into the American market independently would require navigating complex compliance frameworks, making Coinbase’s regulatory expertise particularly valuable.
Early reports indicate Bybit carries an estimated valuation near $25 billion. This assessment draws from recent market comparisons, particularly the ICE backing of OKX at comparable valuations.
Last year, Coinbase demonstrated its appetite for substantial acquisitions by purchasing Deribit for $2.9 billion, signaling continued expansion ambitions.
It’s worth highlighting that Coinbase maintains strong credentials in US regulatory compliance, including proper licensing and adherence to consumer protection protocols.
COIN Shares Rise on Unconfirmed Reports
COIN stock concluded the trading session at $195.53 when speculation first emerged, representing a 1.18% uptick. The monthly performance shows impressive gains approaching 20%.
This monthly momentum deserves attention, particularly since certain market analysts had previously projected the stock could decline toward $100.
The positive movement wasn’t isolated to Coinbase — cryptocurrency-related equities like MSTR, MARA, and CRCL similarly posted increases during the same trading period, despite broader market weakness.
Star Xu, founder of OKX, shared his perspective on the rumored transaction via X: “If it’s true, good for the industry. Higher standards, less regulatory arbitrage.”
Potential Implications of a Coinbase-Bybit Partnership
The United States is currently navigating an evolving regulatory landscape for cryptocurrency assets. Although the CLARITY Act has experienced repeated postponements, progress continues toward establishing comprehensive digital asset guidelines.
With improved regulatory clarity, Bybit could legitimately expand its US operations — though this would require appropriate partnerships or compliance infrastructure.
Both the SEC and CFTC have collaborated on developing this framework, establishing clearer requirements for international exchanges seeking US market access.
A Bybit operation facilitated through Coinbase would circumvent numerous regulatory obstacles by utilizing Coinbase’s pre-existing relationships with US authorities.
Currently, neither organization has provided a projected timeline or disclosed official deal terms.
TLDR
- BitMine Immersion Technologies (BMNR) acquired 5,000 ETH from the Ethereum Foundation through an over-the-counter transaction valued at approximately $10.2 million, with ETH priced at $2,042.96.
- This marks the Foundation’s second direct corporate ETH sale, after completing a $25.7M transaction with SharpLink Gaming in July 2025.
- BitMine, led by Chairman Tom Lee from Fundstrat, has become the world’s largest publicly listed Ether treasury company with holdings exceeding 4.5 million ETH valued at approximately $9.3 billion.
- Funds generated from the transaction will support the Foundation’s essential operations, including protocol research and development, ecosystem expansion, and grant programs for the community.
- The transaction follows the EF’s treasury management strategy, which allocates roughly 15% of treasury assets annually for operating expenses while maintaining reserves for multiple years.
BitMine Immersion Technologies (BMNR) has acquired 5,000 ETH directly from the Ethereum Foundation through an over-the-counter deal valued at approximately $10.2 million. The transaction executed at an average rate of $2,042.96 for each ETH token.
The Foundation disclosed the transaction on Saturday through an announcement posted on X. The on-chain movement will be executed from an Ethereum Foundation Safe multisig wallet.
Trading on the NYSE American exchange under ticker BMNR, BitMine operates under the leadership of Chairman Tom Lee, Fundstrat’s co-founder, who has publicly advocated for Ethereum as a strategic corporate treasury holding.
Bitmine Immersion Technologies, Inc., BMNR
With a current treasury exceeding 4.5 million ETH valued at approximately $9.3 billion, BitMine stands as the world’s largest publicly listed company holding Ether in its reserves.
BitMine’s investment strategy heavily emphasizes ETH. Beyond its primary Ether holdings, the firm maintains approximately 195 BTC, cash reserves surpassing $1 billion, and equity investments across multiple ventures.
These investments encompass ownership in Beast Industries — the entity associated with popular YouTube content creator MrBeast — secured through a $200 million capital injection. Additionally, BitMine maintains a 7% ownership position in Eightco, a treasury firm focused on Worldcoin.
Since the middle of 2025, the company has been consistently expanding its ETH position, employing a strategy reminiscent of Strategy’s approach to Bitcoin accumulation.
EF’s Second Corporate OTC Deal
This transaction represents the Ethereum Foundation’s second instance of selling ETH directly to a corporate entity for treasury purposes. Previously, in July 2025, the Foundation transferred 10,000 ETH to SharpLink Gaming at $2,572.37 per token, generating approximately $25.7 million.
These transactions align with the EF’s treasury governance model established in June 2025. This framework mandates periodic conversions of ETH holdings into traditional currency to sustain operational liquidity.
The Foundation maintains a spending target of approximately 15% of total treasury value annually. Additionally, it preserves a 2.5-year operational reserve, which determines the timing and volume of ETH liquidations.
Revenue from the BMNR transaction will finance protocol research activities, network ecosystem development projects, and grant distributions to community initiatives.
EF Staking and New Mandate
This sale follows the Foundation’s recent announcement regarding plans to stake as many as 70,000 ETH utilizing open-source validator systems. This initiative aims to generate network rewards while strengthening the Foundation’s active involvement in Ethereum operations.
Earlier in the week, the EF released an updated mandate document clarifying its responsibilities in guiding the Ethereum ecosystem. The framework prioritizes decentralization, resistance to censorship, open-source collaboration, and user autonomy.
According to the Foundation, focus areas include fundamental protocol enhancements, forward-looking research initiatives, network security measures, and developer infrastructure. The document also indicates intentions to progressively diminish its centralized influence across the ecosystem.
According to industry treasury monitoring platforms, BitMine’s current Ether holdings surpass 4.5 million ETH.
TLDR
- Ex-UK Prime Minister Boris Johnson labeled Bitcoin a “giant Ponzi scheme” in his Daily Mail editorial.
- Johnson recounted a tale of a local resident who lost approximately £20,000 (~$26,450) in what he characterized as a Bitcoin-related scam.
- He raised doubts about trusting a monetary system developed by the anonymous Satoshi Nakamoto.
- Michael Saylor, Strategy’s chairman, countered by highlighting that Bitcoin lacks an issuer, promoter, or return guarantees.
- Social media users emphasized Bitcoin’s capped supply and transparent code as proof it doesn’t match Ponzi scheme characteristics.
The cryptocurrency community found itself in heated debate this week following former UK Prime Minister Boris Johnson’s characterization of Bitcoin as a “giant Ponzi scheme” in his newspaper commentary. Digital asset supporters wasted no time mounting their defense.
Johnson’s controversial opinion appeared in the Daily Mail on Friday, March 14, 2026. The article began by recounting an anecdote involving an Oxfordshire villager who gave £500 (~$661) to a pub acquaintance promising to double his investment through Bitcoin.
According to Johnson, this individual spent three and a half years attempting to recover his funds while paying various fees. The effort proved futile. Ultimately, the man lost approximately £20,000 (~$26,450), leaving him “struggling to pay his bills,” Johnson claimed.
The former PM leveraged this narrative to contend that Bitcoin lacks intrinsic value. He drew unfavorable contrasts with gold and even Pokémon trading cards, asserting these possess tangible or cultural worth.
“These curious little Japanese cartoon beasties seem to exercise the same fascination over the five-year-old mind as they did 30 years ago,” Johnson penned, implying Pokémon cards hold more tradability than Bitcoin.
Johnson further challenged the credibility of a monetary framework established by Satoshi Nakamoto, whose true identity remains one of cryptocurrency’s greatest mysteries.
“Who do we talk to if they decrypt the crypto?” the former Prime Minister posed in his commentary.
Michael Saylor Responds
The digital currency sector mounted an immediate counteroffensive. Michael Saylor, Executive Chairman of Strategy — which maintains the largest corporate Bitcoin holdings — directly challenged Johnson’s assertions.
Saylor explained that authentic Ponzi schemes necessitate a “central operator promising returns and paying early investors with funds from later ones.” He emphasized Bitcoin fails to satisfy these criteria.
“Bitcoin has no issuer, no promoter, and no guaranteed return — just an open, decentralized monetary network driven by code and market demand,” Saylor posted on X.
Pierre Rochard, CEO of The Bitcoin Bond Company, joined the conversation, provocatively suggesting that the UK government itself operates as “a giant Ponzi scheme” sustained through debt financing.
Community Notes and Social Media Pushback
On X, a community note appeared beneath Johnson’s post clarifying that Ponzi schemes typically promise artificially inflated returns with minimal risk. The annotation stated: “Bitcoin has no issuer and its value is purely determined by the free market. The code is totally public and opt-in.”
Numerous commentators highlighted Bitcoin’s predetermined supply ceiling and its transparent, open-source architecture as fundamental distinctions from conventional Ponzi operations.
BitMEX Research addressed Johnson’s inquiry about Bitcoin’s leadership with a straightforward response: “Nobody is in charge.”
Several users deployed memes while criticizing traditional central banks for monetary expansion policies implemented during the pandemic period.
Johnson’s editorial and the ensuing responses coincided with the Bitcoin network’s achievement of mining its 20 millionth coin, a significant milestone that underscored Bitcoin’s immutable 21 million coin maximum supply.
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