Author: Tristan Lodenberg

Spot Bitcoin ETFs ended a four-week inflow streak, posting $296.18 million in net outflows for the week ending Friday. This follows consecutive weekly inflows totaling over $2.2 billion, including $787.31 million, $568.45 million, and $767.33 million earlier in March, before slowing to $95.18 million the prior week, according to SoSoValue data. Daily withdrawals on Thursday and Friday exceeded $396 million, with Friday alone seeing $225.48 million, the largest single day redemption since March 3. Despite this reversal, cumulative net inflows into spot Bitcoin ETFs remain $55.93 billion, while total net assets dropped to $84.77 billion from over $90 billion a…

US Senator Cynthia Lummis has emphasized that the Digital Asset Market CLARITY Act will provide unprecedented legal protections for decentralized finance (DeFi) developers. The remarks come amid concerns that non-custodial software developers could be exposed to regulatory liabilities under current legislation. Lummis confirmed that recent bipartisan revisions to Title 3 of the Act will clarify that non-controlling developers and providers of non-custodial software are not subject to Bank Secrecy Act KYC obligations. She stated these changes make the bill “the strongest protection for DeFi and developers ever enacted” and urged swift passage to secure these safeguards. Legal Clarity for DeFi…

The city of Detroit is preparing to join Michigan’s legal dispute with Coinbase over prediction market regulation, signaling a growing conflict between state authorities and digital trading platforms. Lawyers representing Detroit plan to file an amicus brief supporting Michigan officials in their lawsuit against the crypto exchange as the case moves forward in federal court. A judge in the US District Court for the Eastern District of Michigan approved Detroit’s request to participate, granting the city until April 3 to submit its filing. The case stems from Coinbase’s challenge against Michigan regulators ahead of launching prediction market services on its…

The team behind the P2P.me decentralized trading platform has publicly disclosed that it placed bets on a prediction market tied to its own fundraising results, acknowledging the move raised concerns about transparency and trust. The positions were opened on the Polymarket platform roughly 10 days before the funding round went live, wagering on whether the project would reach its $6 million fundraising target. At the time the bets were placed, the team stated it had only an oral commitment of $3 million from venture firm Multicoin Capital, with no signed term sheets or guaranteed allocations. The funding round ultimately closed…

Bitcoin markets turned bearish after a sharp price decline triggered by geopolitical uncertainty and economic concerns. Traders are increasingly doubtful that the $66,000 support level will hold, as risk sentiment weakens across global financial markets. Bitcoin dropped to $65,530 on Friday, marking an 8% decline from $71,300 recorded a day earlier. The fall wiped out more than $210 million in leveraged bullish futures, while the $18.6 billion monthly options expiry left most call positions worthless. Options data now shows a 53% probability that Bitcoin will remain below $66,000 by April 24, reflecting growing bearish expectations. Rising Inflation Risks and Policy…

California has expanded its crackdown on insider trading in prediction markets after Governor Gavin Newsom signed an executive order restricting the use of confidential government information for financial gain. The move targets ethical concerns surrounding political insiders profiting from sensitive events they may influence or know about in advance. The order specifically prohibits gubernatorial appointees from using non-public information obtained through official duties to profit from prediction market activity. It also extends restrictions to spouses, family members, and former business partners to prevent indirect misuse of privileged information. New Rules Target Insider Access to Sensitive Information The executive order follows…

US lawmakers have introduced a draft proposal aimed at reshaping digital asset taxation, but the plan has drawn attention for excluding a tax exemption for Bitcoin transactions. The proposed legislation, titled the Digital Asset Protection, Accountability, Regulation, Innovation, Taxation, and Yields (Digital Asset PARITY) Act, was released as a discussion draft to encourage debate on clearer crypto tax rules. The bill seeks to update the Internal Revenue Code of 1986 by defining how digital assets are taxed and reported. It proposes that dollar-pegged stablecoins would not trigger gains or losses if their value remains within 1% of $1, meaning minor…

Stablecoins are increasingly being viewed as a turning point for corporate adoption of blockchain payments, as companies explore faster and more efficient financial tools. Ripple CEO Brad Garlinghouse said stablecoins could represent crypto’s “ChatGPT moment” for businesses, noting that corporate boards and executives across Fortune 500 and Fortune 2000 firms are actively questioning how treasury teams plan to use these digital assets. He emphasized that providing treasurers and chief financial officers with stablecoin payment options could unlock broader access to blockchain-based services. The growing attention reflects how businesses are searching for alternatives to traditional cross-border payment systems. Stablecoin Trading Volume…

Morgan Stanley has proposed a 0.14% management fee for its planned spot Bitcoin exchange-traded fund, a move that would make it the lowest-cost Bitcoin ETF in the United States if approved. The proposed fee is one basis point lower than the Grayscale Bitcoin Mini Trust ETF, currently the cheapest in the market, and significantly below the iShares Bitcoin Trust ETF issued by BlackRock. The filing was included in the firm’s updated registration documents, signaling strong intent to enter the expanding Bitcoin ETF sector. The low-cost structure is expected to make the product attractive to Morgan Stanley’s network of about 16,000…

Users of Coinbase have voiced strong criticism over push notifications promoting prediction market bets during the March Madness basketball tournament. Many users described the alerts as excessive, reporting multiple notifications within short periods encouraging wagers on sports outcomes. Some argued the shift toward prediction-based betting feels inconsistent with the platform’s original focus on cryptocurrency trading.  X user AvgJoesCrypto said on Thursday; Partnership With Prediction Market Platform Raises Concerns The prediction market feature was introduced earlier this year through a partnership with Kalshi, allowing US-based users to trade on event outcomes such as sports games. However, critics say repeated notifications risk…