Author: dfmines

Today in crypto, Argentina has introduced new rules for crypto firms. Meanwhile, in the United States, a new bill seeks to formalize former President Donald Trump’s executive order to establish a Strategic Bitcoin Reserve. However, Democrat Representative Gerald is pushing for the US Treasury to halt any efforts toward creating a crypto reserve.Argentina finalizes rules for virtual asset providersArgentina’s securities regulator has finalized rules for virtual asset service providers (VASPs), which cover general codes of conduct and custody requirements for cryptocurrency exchanges and other platforms facilitating digital asset transactions. The regulations were published on March 13 by the National Securities Commission, also known as CNV, under General Resolution No. 1058. According to a translated version of the announcement, the regulations impose “obligations regarding registration, cybersecurity, asset custody, money laundering prevention, and risk disclosure” on VASPs operating in the country.The stated goal of the rules is to guarantee “transparency, stability, and user protection in the crypto ecosystem,” the announcement said.Argentine tax lawyer Diego Fraga said the final guidelines include mandatory separation of company and client funds, annual audits and monthly reporting with the CNV. Source: Diego FragaSince 2024, VASPs operating in Argentina have been required to register with the registry of virtual asset service providers, also known as PSAV. According to the new rules, registrations may be revoked for noncompliance, and any company operating without registration may be blocked by court order.US Rep. Byron Donalds to introduce bill codifying Trump’s Bitcoin reserveA 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.Democrat lawmaker urges Treasury to cease Trump’s Bitcoin reserve plansA Democrat lawmaker has called on the US Treasury to “cease all attempts” to create a strategic crypto reserve in the United States.House Representative Gerald E. Connolly of Michigan criticized the “cryptocurrency reserve” in a March 13 letter to Treasury Secretary Scott Bessent, stating that it provides “no discernible benefit to the American people” and would instead significantly enrich the president and his donors.Rep: Gerald Connolly’s letter to US Treasury’s Scott Bessent. Source: Committee on Oversight and Government Reform DemocratsConnolly said Trump’s plans would constitute “unsound fiscal policy” because it chooses certain cryptocurrencies over others via social media and would also waste taxpayer dollars.However, the White House has said that the Digital Asset Stockpile will only hold onto cryptocurrency already forfeited. At the same time, the Bitcoin (BTC) reserve will only make acquisitions through budget-neutral strategies that won’t impact taxpayers.

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The cryptocurrency trader whose ultra-leveraged Ether (ETH) trade tested Hyperliquid’s limits on March 12 has entered another multimillion-dollar position, this time in Chainlink (LINK), onchain data shows. On March 14, the anonymous whale, referred to on X as “ETH 50x Big Guy,” took out long positions in LINK worth approximately $31 million with 10 times leverage, according to Lookonchain, a Web3 analytics service. He placed the bets on Hyplerliquid and GMX, two popular perpetuals exchanges, Lookonchain said in a March 14 X post. Additionally, the whale accumulated roughly $12 million in spot LINK. In the ensuing hours, the whale gradually reduced his LINK holdings through small swaps back into stablecoins, as per onchain data. Source: LookonchainRelated: Hyperliquid ups margin requirements after $4 million liquidation lossMassive trading gainsOn March 12, the unidentified trader intentionally liquidated a roughly $200 million ETH long position, causing Hyperliquid’s liquidity pool, HLP, to lose $4 million. The trader’s profits topped roughly $1.8 million. According to Lookonchain, the trader has earned nearly $17 million in the past month on Hyperliquid. The incident highlighted the challenges facing perpetual trading platforms such as Hyperliquid, which enable traders to take long or short positions many times larger than their deposited capital.Hyperliquid said the trader’s actions did not qualify as an exploit and were instead a predictable consequence of the mechanics of its trading platform under extreme conditions. In response to the losses, Hyperliquid announced on March 13 revised collateral rules for traders with open positions to guard against similar edge cases in the future. Launched in 2024, Hyperliquid’s flagship perpetuals exchange has captured 70% of the market share, surpassing rivals such as GMX and dYdX, according to a January report by asset manager VanEck. Chainlink, the most popular decentralized oracle service, saw the price of its native LINK token increase by more than 150% in the weeks after President Donald Trump prevailed in the US election. It has since given up much of those gains, declining from highs of nearly $30 per token in December to less than $14 as of March 14, according to data from CoinGecko. Chainlink’s market capitalization is currently around $8.7 billion. Magazine: ‘Hong Kong’s FTX’ victims win lawsuit, bankers bash stablecoins: Asia Express

The cryptocurrency trader whose ultra-leveraged Ether (ETH) trade tested Hyperliquid’s limits on March 12 has entered another multimillion-dollar position, this time in Chainlink (LINK), onchain data shows. On March 14, the anonymous whale, referred to on X as “ETH 50x Big Guy,” took out long positions in LINK worth approximately $31 million with 10 times leverage, according to Lookonchain, a Web3 analytics service. He placed the bets on Hyplerliquid and GMX, two popular perpetuals exchanges, Lookonchain said in a March 14 X post. Additionally, the whale accumulated roughly $12 million in spot LINK. In the ensuing hours, the whale gradually reduced his LINK holdings through small swaps back into stablecoins, as per onchain data. Source: LookonchainRelated: Hyperliquid ups margin requirements after $4 million liquidation lossMassive trading gainsOn March 12, the unidentified trader intentionally liquidated a roughly $200 million ETH long position, causing Hyperliquid’s liquidity pool, HLP, to lose $4 million. The trader’s profits topped roughly $1.8 million. According to Lookonchain, the trader has earned nearly $17 million in the past month on Hyperliquid. The incident highlighted the challenges facing perpetual trading platforms such as Hyperliquid, which enable traders to take long or short positions many times larger than their deposited capital.Hyperliquid said the trader’s actions did not qualify as an exploit and were instead a predictable consequence of the mechanics of its trading platform under extreme conditions. In response to the losses, Hyperliquid announced on March 13 revised collateral rules for traders with open positions to guard against similar edge cases in the future. Launched in 2024, Hyperliquid’s flagship perpetuals exchange has captured 70% of the market share, surpassing rivals such as GMX and dYdX, according to a January report by asset manager VanEck. Chainlink, the most popular decentralized oracle service, saw the price of its native LINK token increase by more than 150% in the weeks after President Donald Trump prevailed in the US election. It has since given up much of those gains, declining from highs of nearly $30 per token in December to less than $14 as of March 14, according to data from CoinGecko. Chainlink’s market capitalization is currently around $8.7 billion. Magazine: ‘Hong Kong’s FTX’ victims win lawsuit, bankers bash stablecoins: Asia Express

The cryptocurrency trader whose ultra-leveraged Ether (ETH) trade tested Hyperliquid’s limits on March 12 has entered another multimillion-dollar position, this time in Chainlink (LINK), onchain data shows. On March 14, the anonymous whale, referred to on X as “ETH 50x Big Guy,” took out long positions in LINK worth approximately $31 million with 10 times leverage, according to Lookonchain, a Web3 analytics service. He placed the bets on Hyplerliquid and GMX, two popular perpetuals exchanges, Lookonchain said in a March 14 X post. Additionally, the whale accumulated roughly $12 million in spot LINK. In the ensuing hours, the whale gradually reduced his LINK holdings through small swaps back into stablecoins, as per onchain data. Source: LookonchainRelated: Hyperliquid ups margin requirements after $4 million liquidation lossMassive trading gainsOn March 12, the unidentified trader intentionally liquidated a roughly $200 million ETH long position, causing Hyperliquid’s liquidity pool, HLP, to lose $4 million. The trader’s profits topped roughly $1.8 million. According to Lookonchain, the trader has earned nearly $17 million in the past month on Hyperliquid. The incident highlighted the challenges facing perpetual trading platforms such as Hyperliquid, which enable traders to take long or short positions many times larger than their deposited capital.Hyperliquid said the trader’s actions did not qualify as an exploit and were instead a predictable consequence of the mechanics of its trading platform under extreme conditions. In response to the losses, Hyperliquid announced on March 13 revised collateral rules for traders with open positions to guard against similar edge cases in the future. Launched in 2024, Hyperliquid’s flagship perpetuals exchange has captured 70% of the market share, surpassing rivals such as GMX and dYdX, according to a January report by asset manager VanEck. Chainlink, the most popular decentralized oracle service, saw the price of its native LINK token increase by more than 150% in the weeks after President Donald Trump prevailed in the US election. It has since given up much of those gains, declining from highs of nearly $30 per token in December to less than $14 as of March 14, according to data from CoinGecko. Chainlink’s market capitalization is currently around $8.7 billion. Magazine: ‘Hong Kong’s FTX’ victims win lawsuit, bankers bash stablecoins: Asia Express

The cryptocurrency trader whose ultra-leveraged Ether (ETH) trade tested Hyperliquid’s limits on March 12 has entered another multimillion-dollar position, this time in Chainlink (LINK), onchain data shows. On March 14, the anonymous whale, referred to on X as “ETH 50x Big Guy,” took out long positions in LINK worth approximately $31 million with 10 times leverage, according to Lookonchain, a Web3 analytics service. He placed the bets on Hyplerliquid and GMX, two popular perpetuals exchanges, Lookonchain said in a March 14 X post. Additionally, the whale accumulated roughly $12 million in spot LINK. In the ensuing hours, the whale gradually reduced his LINK holdings through small swaps back into stablecoins, as per onchain data. Source: LookonchainRelated: Hyperliquid ups margin requirements after $4 million liquidation lossMassive trading gainsOn March 12, the unidentified trader intentionally liquidated a roughly $200 million ETH long position, causing Hyperliquid’s liquidity pool, HLP, to lose $4 million. The trader’s profits topped roughly $1.8 million. According to Lookonchain, the trader has earned nearly $17 million in the past month on Hyperliquid. The incident highlighted the challenges facing perpetual trading platforms such as Hyperliquid, which enable traders to take long or short positions many times larger than their deposited capital.Hyperliquid said the trader’s actions did not qualify as an exploit and were instead a predictable consequence of the mechanics of its trading platform under extreme conditions. In response to the losses, Hyperliquid announced on March 13 revised collateral rules for traders with open positions to guard against similar edge cases in the future. Launched in 2024, Hyperliquid’s flagship perpetuals exchange has captured 70% of the market share, surpassing rivals such as GMX and dYdX, according to a January report by asset manager VanEck. Chainlink, the most popular decentralized oracle service, saw the price of its native LINK token increase by more than 150% in the weeks after President Donald Trump prevailed in the US election. It has since given up much of those gains, declining from highs of nearly $30 per token in December to less than $14 as of March 14, according to data from CoinGecko. Chainlink’s market capitalization is currently around $8.7 billion. Magazine: ‘Hong Kong’s FTX’ victims win lawsuit, bankers bash stablecoins: Asia Express

The cryptocurrency trader whose ultra-leveraged Ether (ETH) trade tested Hyperliquid’s limits on March 12 has entered another multimillion-dollar position, this time in Chainlink (LINK), onchain data shows. On March 14, the anonymous whale, referred to on X as “ETH 50x Big Guy,” took out long positions in LINK worth approximately $31 million with 10 times leverage, according to Lookonchain, a Web3 analytics service. He placed the bets on Hyplerliquid and GMX, two popular perpetuals exchanges, Lookonchain said in a March 14 X post. Additionally, the whale accumulated roughly $12 million in spot LINK. In the ensuing hours, the whale gradually reduced his LINK holdings through small swaps back into stablecoins, as per onchain data. Source: LookonchainRelated: Hyperliquid ups margin requirements after $4 million liquidation lossMassive trading gainsOn March 12, the unidentified trader intentionally liquidated a roughly $200 million ETH long position, causing Hyperliquid’s liquidity pool, HLP, to lose $4 million. The trader’s profits topped roughly $1.8 million. According to Lookonchain, the trader has earned nearly $17 million in the past month on Hyperliquid. The incident highlighted the challenges facing perpetual trading platforms such as Hyperliquid, which enable traders to take long or short positions many times larger than their deposited capital.Hyperliquid said the trader’s actions did not qualify as an exploit and were instead a predictable consequence of the mechanics of its trading platform under extreme conditions. In response to the losses, Hyperliquid announced on March 13 revised collateral rules for traders with open positions to guard against similar edge cases in the future. Launched in 2024, Hyperliquid’s flagship perpetuals exchange has captured 70% of the market share, surpassing rivals such as GMX and dYdX, according to a January report by asset manager VanEck. Chainlink, the most popular decentralized oracle service, saw the price of its native LINK token increase by more than 150% in the weeks after President Donald Trump prevailed in the US election. It has since given up much of those gains, declining from highs of nearly $30 per token in December to less than $14 as of March 14, according to data from CoinGecko. Chainlink’s market capitalization is currently around $8.7 billion. Magazine: ‘Hong Kong’s FTX’ victims win lawsuit, bankers bash stablecoins: Asia Express

The cryptocurrency trader whose ultra-leveraged Ether (ETH) trade tested Hyperliquid’s limits on March 12 has entered another multimillion-dollar position, this time in Chainlink (LINK), onchain data shows. On March 14, the anonymous whale, referred to on X as “ETH 50x Big Guy,” took out long positions in LINK worth approximately $31 million with 10 times leverage, according to Lookonchain, a Web3 analytics service. He placed the bets on Hyplerliquid and GMX, two popular perpetuals exchanges, Lookonchain said in a March 14 X post. Additionally, the whale accumulated roughly $12 million in spot LINK. In the ensuing hours, the whale gradually reduced his LINK holdings through small swaps back into stablecoins, as per onchain data. Source: LookonchainRelated: Hyperliquid ups margin requirements after $4 million liquidation lossMassive trading gainsOn March 12, the unidentified trader intentionally liquidated a roughly $200 million ETH long position, causing Hyperliquid’s liquidity pool, HLP, to lose $4 million. The trader’s profits topped roughly $1.8 million. According to Lookonchain, the trader has earned nearly $17 million in the past month on Hyperliquid. The incident highlighted the challenges facing perpetual trading platforms such as Hyperliquid, which enable traders to take long or short positions many times larger than their deposited capital.Hyperliquid said the trader’s actions did not qualify as an exploit and were instead a predictable consequence of the mechanics of its trading platform under extreme conditions. In response to the losses, Hyperliquid announced on March 13 revised collateral rules for traders with open positions to guard against similar edge cases in the future. Launched in 2024, Hyperliquid’s flagship perpetuals exchange has captured 70% of the market share, surpassing rivals such as GMX and dYdX, according to a January report by asset manager VanEck. Chainlink, the most popular decentralized oracle service, saw the price of its native LINK token increase by more than 150% in the weeks after President Donald Trump prevailed in the US election. It has since given up much of those gains, declining from highs of nearly $30 per token in December to less than $14 as of March 14, according to data from CoinGecko. Chainlink’s market capitalization is currently around $8.7 billion. Magazine: ‘Hong Kong’s FTX’ victims win lawsuit, bankers bash stablecoins: Asia Express

The cryptocurrency trader whose ultra-leveraged Ether (ETH) trade tested Hyperliquid’s limits on March 12 has entered another multimillion-dollar position, this time in Chainlink (LINK), onchain data shows. On March 14, the anonymous whale, referred to on X as “ETH 50x Big Guy,” took out long positions in LINK worth approximately $31 million with 10 times leverage, according to Lookonchain, a Web3 analytics service. He placed the bets on Hyplerliquid and GMX, two popular perpetuals exchanges, Lookonchain said in a March 14 X post. Additionally, the whale accumulated roughly $12 million in spot LINK. In the ensuing hours, the whale gradually reduced his LINK holdings through small swaps back into stablecoins, as per onchain data. Source: LookonchainRelated: Hyperliquid ups margin requirements after $4 million liquidation lossMassive trading gainsOn March 12, the unidentified trader intentionally liquidated a roughly $200 million ETH long position, causing Hyperliquid’s liquidity pool, HLP, to lose $4 million. The trader’s profits topped roughly $1.8 million. According to Lookonchain, the trader has earned nearly $17 million in the past month on Hyperliquid. The incident highlighted the challenges facing perpetual trading platforms such as Hyperliquid, which enable traders to take long or short positions many times larger than their deposited capital.Hyperliquid said the trader’s actions did not qualify as an exploit and were instead a predictable consequence of the mechanics of its trading platform under extreme conditions. In response to the losses, Hyperliquid announced on March 13 revised collateral rules for traders with open positions to guard against similar edge cases in the future. Launched in 2024, Hyperliquid’s flagship perpetuals exchange has captured 70% of the market share, surpassing rivals such as GMX and dYdX, according to a January report by asset manager VanEck. Chainlink, the most popular decentralized oracle service, saw the price of its native LINK token increase by more than 150% in the weeks after President Donald Trump prevailed in the US election. It has since given up much of those gains, declining from highs of nearly $30 per token in December to less than $14 as of March 14, according to data from CoinGecko. Chainlink’s market capitalization is currently around $8.7 billion. Magazine: ‘Hong Kong’s FTX’ victims win lawsuit, bankers bash stablecoins: Asia Express