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A new bill set to be introduced in Congress aims to formalize President Donald Trump’s executive order establishing a US Strategic Bitcoin Reserve, a move that could further integrate Bitcoin into the nation’s financial strategy.Trump signed an executive order on March 7 to use Bitcoin (BTC) seized in government criminal cases to establish a national reserve.The legislation, introduced by US Representative Byron Donalds, seeks to ensure the Bitcoin reserve becomes a permanent fixture, preventing future administrations from dismantling it through executive action.Source: Margo Martin“For years, the Democrats waged war on crypto,” Donalds, a Florida Republican, said in a statement to Bloomberg. “Now is the time for Congressional Republicans to decisively end this war.”If the bill is passed, it would ensure that the Strategic Bitcoin Reserve and the US Digital Asset Stockpile could not be eliminated via executive actions by a future administration.The bill will require at least 60 votes in the Senate and a House majority to pass. With Republicans holding a Senate majority — and amid a generally more crypto-friendly environment — the bill has a chance of passing.US states with Bitcoin reserve bill propositions. Source: BitcoinlawsAccording to Bitcoinlaws data, at least 23 US states have introduced legislation supporting a Bitcoin reserve, reflecting growing state-level interest in integrating crypto into fiscal policy.Related: Trump turned crypto from ‘oppressed industry’ to ‘centerpiece’ of US strategyA “pivotal moment” for US crypto regulationsThe introduction of the Bitcoin reserve-related bill marks a pivotal moment for the wider crypto industry, not just BTC.The legislation “aims to cement the reserve as a permanent fixture, shielding it from reversal by future administrations,” according to Anndy Lian, author and intergovernmental blockchain expert.The bill signals the US government’s intent to integrate Bitcoin into its financial framework, Lian told Cointelegraph, adding:“It builds on Trump’s earlier executive action by providing a statutory backbone, potentially clarifying the government’s stance on digital assets. If passed, the bill could reduce uncertainty that has long plagued the crypto space, where agencies like the SEC and CFTC have often clashed over jurisdiction.”“A codified reserve might encourage a more cohesive regulatory approach, offering businesses and investors a clearer path forward,” he added.However, identifying the right funding mechanisms and custody solutions for the Bitcoin reserve is a challenging step for governmental entities that may delay the fund’s creation.Related: European lawmakers silent on US Bitcoin reserve amid digital euro pushThe bill may also provide more clarity on the government’s future Bitcoin acquisition strategies. Although the current plan does not involve government Bitcoin purchases, the order does not rule them out.The order authorizes the US Treasury and Commerce secretaries to develop “budget-neutral strategies” to buy more Bitcoin for the reserve, provided there are no additional costs to taxpayers.Magazine: SCB tips $500K BTC, SEC delays Ether ETF options, and more: Hodler’s Digest, Feb. 23 –March. 1

A new bill set to be introduced in Congress aims to formalize President Donald Trump’s executive order establishing a US Strategic Bitcoin Reserve, a move that could further integrate Bitcoin into the nation’s financial strategy.Trump signed an executive order on March 7 to use Bitcoin (BTC) seized in government criminal cases to establish a national reserve.The legislation, introduced by US Representative Byron Donalds, seeks to ensure the Bitcoin reserve becomes a permanent fixture, preventing future administrations from dismantling it through executive action.Source: Margo Martin“For years, the Democrats waged war on crypto,” Donalds, a Florida Republican, said in a statement to Bloomberg. “Now is the time for Congressional Republicans to decisively end this war.”If the bill is passed, it would ensure that the Strategic Bitcoin Reserve and the US Digital Asset Stockpile could not be eliminated via executive actions by a future administration.The bill will require at least 60 votes in the Senate and a House majority to pass. With Republicans holding a Senate majority — and a generally more crypto-friendly stance —the bill has a chance of passing.US states with Bitcoin reserve bill propositions. Source: BitcoinlawsAccording to Bitcoinlaws data, at least 23 US states have introduced legislation supporting a Bitcoin reserve, reflecting growing state-level interest in integrating crypto into fiscal policy.Related: Trump turned crypto from ‘oppressed industry’ to ‘centerpiece’ of US strategyA “pivotal moment” for US crypto regulationsThe introduction of the Bitcoin reserve-related bill marks a pivotal moment for the wider crypto industry, not just BTC.The legislation “aims to cement the reserve as a permanent fixture, shielding it from reversal by future administrations,” according to Anndy Lian, author and intergovernmental blockchain expert.The bill signals the US government’s intent to integrate Bitcoin into its financial framework, Lian told Cointelegraph, adding:“It builds on Trump’s earlier executive action by providing a statutory backbone, potentially clarifying the government’s stance on digital assets. If passed, the bill could reduce uncertainty that has long plagued the crypto space, where agencies like the SEC and CFTC have often clashed over jurisdiction.”“A codified reserve might encourage a more cohesive regulatory approach, offering businesses and investors a clearer path forward,” he added.However, identifying the right funding mechanisms and custody solutions for the Bitcoin reserve is a challenging step for governmental entities that may delay the fund’s creation.Related: European lawmakers silent on US Bitcoin reserve amid digital euro pushDonalds’ bill may also provide more clarity on the government’s future Bitcoin acquisition strategies. Although the current plan does not involve government Bitcoin purchases, the order does not rule them out in the future.The order authorizes the US Treasury and Commerce secretaries to develop “budget-neutral strategies” to buy more Bitcoin for the reserve, provided there are no additional costs to taxpayers.Magazine: SCB tips $500K BTC, SEC delays Ether ETF options, and more: Hodler’s Digest, Feb. 23 –March. 1

Bitcoin’s price appears to be still struggling below key levels. So far, the asset still trades below $82,000 marking a slight uptick of 0.3% in the past day and a roughly 24.3% decrease away from its all-time high (ATH) above $109,000 registered in January. Amid this price performance, key price levels, particularly those that impact short-term holders (STHs)—investors who have held Bitcoin for less than six months have emerged. Related Reading: Bitcoin Investors Shift To Strong Distribution As Demand Fades, Glassnode Reveals Short-Term Holder Realized Price: A Key Market Indicator CryptoQuant analyst Yonsei Dent has identified a critical resistance zone between $86K and $90K, where many STHs remain in a loss position. The ability of Bitcoin to break through these levels will determine whether it can regain momentum or continue its downward trend. Yonsei Dent emphasizes the importance of Realized Price, which represents the average acquisition cost of Bitcoin holders. This metric helps identify support and resistance zones by showing at what price level investors are likely to break even or sell at a loss. Currently, Bitcoin is struggling to reclaim the $83,000 resistance, as the weighted average Realized Price for 1W–6M STHs stands at $91.800. This means that many recent buyers are still holding at a loss, creating selling pressure as they attempt to exit at break-even levels. Additionally, the 3–6M STH Realized Price sits at $86.100, making it a major resistance zone. Since this group holds the largest share of Realized Cap among short-term holders, their trading activity could significantly impact Bitcoin’s price movements. What This Means for Bitcoin’s Price Action As Bitcoin trades in the $86,000 to $90,000 range, short-term holders selling at break-even could lead to increased market volatility. If Bitcoin is unable to break past this resistance, it could face renewed downward pressure. On the downside, Bitcoin’s 6–12M Long-Term Holder (LTH) Realized Price sits at $63.700, with $64,000 being a strong historical support level. Yonsei Dent notes that if buying demand is strong enough to absorb selling pressure, Bitcoin may break out of this range and establish a more bullish trend. Related Reading: Bitcoin’s Mining Difficulty Rises Despite Market Drop—What Does It Mean? However, if selling from short-term holders intensifies, Bitcoin could retest lower support levels before making any significant recovery. The analyst noted: As Bitcoin navigates the $86K → $90K range, STHs looking to exit at break-even may increase market turbulence. The key question is whether buying demand will be strong enough to absorb this pressure. Let’s see how the market responds. Featured image created with DALL-E, Chart from TradingView

Newly revealed court documents show that FTX secretly liquidated $1.53 billion in Three Arrows Capital (3AC) assets just two weeks before the hedge fund collapsed in 2022. The disclosure challenged previous narratives that 3AC’s downfall was solely market-driven.Once valued at over $10 billion, 3AC collapsed in mid-2022 after a series of leveraged directional trades turned sour. The hedge fund had borrowed from over 20 large institutions before the May 2022 crypto crash, which saw Bitcoin (BTC) fall to $16,000.However, recently-discovered evidence shows that the FTX exchange liquidated $1.53 billion worth of 3AC’s assets just two weeks ahead of the hedge fund’s collapse.3AC “asked a bankruptcy court to let it increase its claim against FTX from $120 million to $1.53 billion,” according to “Mbottjer,” the pseudonymous co-founder of FTX Creditor, a group FTX creditors and bankruptcy claim buyers.“3AC says it only recently discovered evidence that FTX liquidated $1.53B of 3AC’s assets just two weeks before 3AC itself went into liquidation, much more than the $120M originally claimed,” they stated.Source: MbottjerThe crypto hedge fund claims it was never notified of these liquidations due to FTX’s own bankruptcy proceedings. A court ruled that 3AC acted in good faith, allowing it to pursue its full $1.53 billion claim in FTX’s bankruptcy case.On Dec. 21, 2023, a British Virgin Islands court froze $1.14 billion worth of 3AC co-founder Kyle Davies and Su Zhu’s assets. Teneo has since estimated that 3AC creditors are still owed roughly $3.3 billion following the hedge fund’s collapse in 2022.Davies claimed that allegations from Teneo — the firm in charge of 3AC’s liquidation — that he and co-founder Su Zhu were “not cooperating” were exaggerated.Related: US court gives Three Arrows nod to increase its FTX claim to $1.53BMissing $1.5 billion not enough to avoid 3AC collapseWhile the $1.53 billion sum is significantly larger than FTX’s previously disclosed liquidations, it may not have been enough to save 3AC from bankruptcy, according to Nicolai Sondergaard, research analyst at Nansen:“From what I can see, even if they in 2022 had the additional $1.5 billion they still would not have been able to meet creditor claims/debt repayments.”“Without being a legal expert, it seems to me that 3AC, while being allowed to pursue a much larger amount, likely won’t get the full $1.53 billion claim. It seems realistic that they will get more, but how much is uncertain,” the analyst added.Related: 3AC liquidators file $1.3B claim against Terraform LabsBinance co-founder and former CEO Changpeng Zhao called the revelations an “interesting turn of events.”Source: CZ BNB“I am curious if FTX had anything to do with the LUNA/UST crash/depeg in May 2022,” Zhao said in a March 14 X post.The collapse of 3AC occurred a month after that of Terraform Labs’ Terra (LUNC) and TerraClassicUSD (USTC) tokens and shortly before crypto lender Celsius paused all user withdrawals after its native token Celsius (CEL) dropped 90%.Magazine: ‘Hong Kong’s FTX’ victims win lawsuit, bankers bash stablecoins: Asia Express

Newly revealed court documents show that FTX secretly liquidated $1.53 billion in Three Arrows Capital (3AC) assets just two weeks before the hedge fund collapsed in 2022. The disclosure challenged previous narratives that 3AC’s downfall was solely market-driven.Once valued at over $10 billion, 3AC collapsed in mid-2022 after a series of leveraged directional trades turned sour. The hedge fund had borrowed from over 20 large institutions before the May 2022 crypto crash, which saw Bitcoin (BTC) fall to $16,000.However, recently-discovered evidence shows that the FTX exchange liquidated $1.53 billion worth of 3AC’s assets just two weeks ahead of the hedge fund’s collapse.3AC “asked a bankruptcy court to let it increase its claim against FTX from $120 million to $1.53 billion,” according to “Mbottjer,” the pseudonymous co-founder of FTX Creditor, a group FTX creditors and bankruptcy claim buyers.“3AC says it only recently discovered evidence that FTX liquidated $1.53B of 3AC’s assets just two weeks before 3AC itself went into liquidation, much more than the $120M originally claimed,” they stated.Source: MbottjerThe crypto hedge fund claims it was never notified of these liquidations due to FTX’s own bankruptcy proceedings. A court ruled that 3AC acted in good faith, allowing it to pursue its full $1.53 billion claim in FTX’s bankruptcy case.On Dec. 21, 2023, a British Virgin Islands court froze $1.14 billion worth of 3AC co-founder Kyle Davies and Su Zhu’s assets. Teneo has since estimated that 3AC creditors are still owed roughly $3.3 billion following the hedge fund’s collapse in 2022.Davies claimed that allegations from Teneo — the firm in charge of 3AC’s liquidation — that he and co-founder Su Zhu were “not cooperating” were exaggerated.Related: US court gives Three Arrows nod to increase its FTX claim to $1.53BMissing $1.5 billion not enough to avoid 3AC collapseWhile the $1.53 billion sum is significantly larger than FTX’s previously disclosed liquidations, it may not have been enough to save 3AC from bankruptcy, according to Nicolai Sondergaard, research analyst at Nansen:“From what I can see, even if they in 2022 had the additional $1.5 billion they still would not have been able to meet creditor claims/debt repayments.”“Without being a legal expert, it seems to me that 3AC, while being allowed to pursue a much larger amount, likely won’t get the full $1.53 billion claim. It seems realistic that they will get more, but how much is uncertain,” the analyst added.Related: 3AC liquidators file $1.3B claim against Terraform LabsBinance co-founder and former CEO Changpeng Zhao called the revelations an “interesting turn of events.”Source: CZ BNB“I am curious if FTX had anything to do with the LUNA/UST crash/depeg in May 2022,” Zhao said in a March 14 X post.The collapse of 3AC occurred a month after that of Terraform Labs’ Terra (LUNC) and TerraClassicUSD (USTC) tokens and shortly before crypto lender Celsius paused all user withdrawals after its native token Celsius (CEL) dropped 90%.Magazine: ‘Hong Kong’s FTX’ victims win lawsuit, bankers bash stablecoins: Asia Express

Newly revealed court documents show that FTX secretly liquidated $1.53 billion in Three Arrows Capital (3AC) assets just two weeks before the hedge fund collapsed in 2022. The disclosure challenged previous narratives that 3AC’s downfall was solely market-driven.Once valued at over $10 billion, 3AC collapsed in mid-2022 after a series of leveraged directional trades turned sour. The hedge fund had borrowed from over 20 large institutions before the May 2022 crypto crash, which saw Bitcoin (BTC) fall to $16,000.However, recently-discovered evidence shows that the FTX exchange liquidated $1.53 billion worth of 3AC’s assets just two weeks ahead of the hedge fund’s collapse.3AC “asked a bankruptcy court to let it increase its claim against FTX from $120 million to $1.53 billion,” according to “Mbottjer,” the pseudonymous co-founder of FTX Creditor, a group FTX creditors and bankruptcy claim buyers.“3AC says it only recently discovered evidence that FTX liquidated $1.53B of 3AC’s assets just two weeks before 3AC itself went into liquidation, much more than the $120M originally claimed,” they stated.Source: MbottjerThe crypto hedge fund claims it was never notified of these liquidations due to FTX’s own bankruptcy proceedings. A court ruled that 3AC acted in good faith, allowing it to pursue its full $1.53 billion claim in FTX’s bankruptcy case.On Dec. 21, 2023, a British Virgin Islands court froze $1.14 billion worth of 3AC co-founder Kyle Davies and Su Zhu’s assets. Teneo has since estimated that 3AC creditors are still owed roughly $3.3 billion following the hedge fund’s collapse in 2022.Davies claimed that allegations from Teneo — the firm in charge of 3AC’s liquidation — that he and co-founder Su Zhu were “not cooperating” were exaggerated.Related: US court gives Three Arrows nod to increase its FTX claim to $1.53BMissing $1.5 billion not enough to avoid 3AC collapseWhile the $1.53 billion sum is significantly larger than FTX’s previously disclosed liquidations, it may not have been enough to save 3AC from bankruptcy, according to Nicolai Sondergaard, research analyst at Nansen:“From what I can see, even if they in 2022 had the additional $1.5 billion they still would not have been able to meet creditor claims/debt repayments.”“Without being a legal expert, it seems to me that 3AC, while being allowed to pursue a much larger amount, likely won’t get the full $1.53 billion claim. It seems realistic that they will get more, but how much is uncertain,” the analyst added.Related: 3AC liquidators file $1.3B claim against Terraform LabsBinance co-founder and former CEO Changpeng Zhao called the revelations an “interesting turn of events.”Source: CZ BNB“I am curious if FTX had anything to do with the LUNA/UST crash/depeg in May 2022,” Zhao said in a March 14 X post.The collapse of 3AC occurred a month after that of Terraform Labs’ Terra (LUNC) and TerraClassicUSD (USTC) tokens and shortly before crypto lender Celsius paused all user withdrawals after its native token Celsius (CEL) dropped 90%.Magazine: ‘Hong Kong’s FTX’ victims win lawsuit, bankers bash stablecoins: Asia Express

Newly revealed court documents show that FTX secretly liquidated $1.53 billion in Three Arrows Capital (3AC) assets just two weeks before the hedge fund collapsed in 2022. The disclosure challenged previous narratives that 3AC’s downfall was solely market-driven.Once valued at over $10 billion, 3AC collapsed in mid-2022 after a series of leveraged directional trades turned sour. The hedge fund had borrowed from over 20 large institutions before the May 2022 crypto crash, which saw Bitcoin (BTC) fall to $16,000.However, recently-discovered evidence shows that the FTX exchange liquidated $1.53 billion worth of 3AC’s assets just two weeks ahead of the hedge fund’s collapse.3AC “asked a bankruptcy court to let it increase its claim against FTX from $120 million to $1.53 billion,” according to “Mbottjer,” the pseudonymous co-founder of FTX Creditor, a group FTX creditors and bankruptcy claim buyers.“3AC says it only recently discovered evidence that FTX liquidated $1.53B of 3AC’s assets just two weeks before 3AC itself went into liquidation, much more than the $120M originally claimed,” they stated.Source: MbottjerThe crypto hedge fund claims it was never notified of these liquidations due to FTX’s own bankruptcy proceedings. A court ruled that 3AC acted in good faith, allowing it to pursue its full $1.53 billion claim in FTX’s bankruptcy case.On Dec. 21, 2023, a British Virgin Islands court froze $1.14 billion worth of 3AC co-founder Kyle Davies and Su Zhu’s assets. Teneo has since estimated that 3AC creditors are still owed roughly $3.3 billion following the hedge fund’s collapse in 2022.Davies claimed that allegations from Teneo — the firm in charge of 3AC’s liquidation — that he and co-founder Su Zhu were “not cooperating” were exaggerated.Related: US court gives Three Arrows nod to increase its FTX claim to $1.53BMissing $1.5 billion not enough to avoid 3AC collapseWhile the $1.53 billion sum is significantly larger than FTX’s previously disclosed liquidations, it may not have been enough to save 3AC from bankruptcy, according to Nicolai Sondergaard, research analyst at Nansen:“From what I can see, even if they in 2022 had the additional $1.5 billion they still would not have been able to meet creditor claims/debt repayments.”“Without being a legal expert, it seems to me that 3AC, while being allowed to pursue a much larger amount, likely won’t get the full $1.53 billion claim. It seems realistic that they will get more, but how much is uncertain,” the analyst added.Related: 3AC liquidators file $1.3B claim against Terraform LabsBinance co-founder and former CEO Changpeng Zhao called the revelations an “interesting turn of events.”Source: CZ BNB“I am curious if FTX had anything to do with the LUNA/UST crash/depeg in May 2022,” Zhao said in a March 14 X post.The collapse of 3AC occurred a month after that of Terraform Labs’ Terra (LUNC) and TerraClassicUSD (USTC) tokens and shortly before crypto lender Celsius paused all user withdrawals after its native token Celsius (CEL) dropped 90%.Magazine: ‘Hong Kong’s FTX’ victims win lawsuit, bankers bash stablecoins: Asia Express

Crypto.com has received a limited license from Dubai’s Virtual Assets Regulatory Authority (VARA) to offer derivative products such as futures and perpetual swaps, marking a major step forward in its global expansion strategy. Dubai’s VARA Grants Crypto.com Approval to Launch Derivatives Products Crypto.com has secured a limited license from Dubai’s Virtual Assets Regulatory Authority (VARA), […]

Bitcoin (BTC) price has been consolidating within a roughly $5,500 range since March 9 as the $84,000 level represents stiff overhead resistance.Data from Cointelegraph Markets Pro and Bitstamp shows BTC price oscillating between $78,599 and $84,000, as shown in the chart below.BTC/USD daily chart. Source: Cointelegraph/TradingViewKey reasons why Bitcoin price remains flat today include:Trump’s trade war tensions causing uncertainty in the market.Weakening demand for Bitcoin and neutral funding rates.BTC price remains pinned below the 200-day SMA.Broader economic uncertainty, weakening demandBitcoin’s price stagnation is partially due to the broader economic and geopolitical factors that are currently at play. What to know:Trump’s new policies, such as his proposed trade tariffs on Mexico and Canada, have unnerved the market.Investors, wary of inflation concerns and a potential tariff war, are avoiding risk assets like Bitcoin.As Cointelegraph recently reported, Bitcoin’s rally post-Trump’s November election has lost steam amid a weakening global economy. This has resulted in weaker demand for Bitcoin, according to Glassnode.For instance, the cost basis of 1w–1m short-term holders flattened out above that of the longer-term holders (1m–3m) in Q1, “marking an early sign of weakening demand in the immediate term.”Related: Bitcoin price drops 2% as falling inflation boosts US trade war fearsBitcoin’s drop below the $95,000 level saw the 1w–1m cost basis slide below the 1m–3m cost basis, “confirming a transition into net capital outflows.”Glassnode noted:“This reversal indicates that macro uncertainty has spooked demand, reducing new inflows… and suggests that new buyers are now hesitant to absorb sell-side pressure, reinforcing the shift from post-ATH euphoria into a more cautious market environment.”Bitcoin STH capital flow. Source: GlassnodeUntil the current trend changes due to macroeconomic tailwinds, such as Fed rate cuts, Bitcoin could struggle to break out of the current range, leaving it vulnerable to pullbacks toward $70,000.Another clear signal of Bitcoin’s stagnation is in the perpetual futures funding rates. BTC funding rates, which reflect the cost of holding long or short positions in crypto futures, are hovering close to 0%, indicating increasing indecisiveness among traders.Bitcoin perpetual futures funding rates across all exchanges. Source: GlassnodeWithout speculative fuel, Bitcoin is struggling to move in either direction, leaving its price stuck in a tight range as traders wait for the next catalyst.Bitcoin price faces stiff resistance on the upsideBitcoin also trades below key resistance areas, as shown in the chart below:On March 9, BTC fell below the 200-day simple moving average (SMA) at $83,736.This trendline has stifled the latest efforts for a sustained recovery.BTC/USD daily chart. Source: Cointelegraph/TradingViewPopular crypto analyst Daan Crypto Trades says that the 200-day SMA at around $83,700 and the 200-day EMA at $86,000 are key levels as they are “solid indicators of the mid/long term trend and overall strength of the market.”In other words, failure to produce a decisive close above the 200-day SMA and flipping it into a new support level could lead to a longer consolidation period for Bitcoin price.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.