Executive brief
Bitcoin has stabilised around $75,000 while broader digital asset markets navigate a complex intersection of geopolitical volatility and major institutional shifts. A primary driver of recent sentiment is the massive accumulation by Strategy, which recently purchased 34,164 Bitcoin for $2.54b, officially overtaking BlackRock’s IBIT as the largest corporate holder with a total of 815,061 BTC. This institutional confidence arrives as Fed Chair nominee Kevin Warsh faced a Senate confirmation hearing, testifying that crypto is now an integrated part of the financial system and asserting his independence from potential executive influence.
However, systemic risks have surfaced via the Kelp DAO exploit, which saw $293m stolen and prompted Arbitrum to freeze $71m in linked ether. This event has led Jefferies to warn that major banks may pause blockchain initiatives to prioritise security infrastructure. On the regulatory front, the CLARITY Act faces potential delays until May as more than 3,000 banks lobby against stablecoin yield provisions. Geopolitics continues to weigh on the market, with scammers in the Strait of Hormuz using Bitcoin and USDT in fraudulent transit schemes that led to a kinetic attack on an oil tanker. Traders face a directional cue from escalating tensions as peace talks in Pakistan are reportedly on hold, pushing Brent crude back above $100 per barrel.
1) Top 20 news headlines
- Strategy overtakes BlackRock IBIT in bitcoin holdings after bear market buying; the firm purchased 34,164 BTC for $2.54b to reach a total of 815,061 BTC.
- Kelp DAO hackers are laundering millions in stolen crypto; attackers are moving $293m across blockchains after the weekend exploit.
- New York AG Sues Coinbase, Gemini Over Alleged State Law Violations; the lawsuit seeks civil penalties equal to triple the illegal profits from prediction markets.
- Fed chair nominee pressed on potential conflicts of interest, independence; Kevin Warsh faced questions over a $100m financial disclosure during his confirmation hearing.
- Banks fund crypto attack ads as 3,000 banks unite to stop CLARITY Act; the bank lobby warns that $6.6t in deposits could migrate if stablecoin yield rules are not tightened.
- Oil tanker attacked after falling for crypto scam in Strait of Hormuz; a vessel was fired upon after paying a fraudulent transit fee in BTC or USDT.
- Revolut targets a $200 billion IPO months after share sale; the fintech is eyeing a valuation $125b higher than its previous private round.
- DoorDash bringing stablecoin payments to masses with Stripe-backed blockchain; the delivery service will use the Tempo blockchain for global payouts.
- Ripple sets 2028 deadline to harden XRPL after quantum research; the plan responds to data suggesting 500,000 qubits could compromise current encryption.
- Aave core markets hit 100% utilisation at once; the lending protocol is facing serious liquidity pressure according to CertiK.
- Almost 80% of Japan’s institutional investors plan to buy crypto; investment professionals intend to allocate up to 5% of portfolios by 2029.
- Singapore’s OCBC launches tokenized gold fund on Ethereum and Solana; tokenized real-world assets on public chains now exceed $29b.
- Core Scientific plans $3.3b debt raise to fund AI data centers; the miner is pivoting infrastructure toward high-performance computing.
- Bitget brings pre-IPO tokens to masses starting with SpaceX; the exchange is launching Solana-based tokens tied to private firms.
- Fireblocks powers euro stablecoin for 12-bank consortium; the Qivalis group includes major institutions like BNP Paribas and ING.
- UK invites crypto giant Bybit to London for government meetings; CEO Ben Zhou met with the FCA and House of Lords this week.
- Bank of Korea governor signals CBDC and bank token push; the central bank plans to modernise markets for 24-hour foreign exchange.
- Philippines SEC flags dYdX and six crypto platforms as unauthorised; promoters of the platforms face fines of up to 5m Philippine pesos.
- BitMEX taps Zodia Custody for off-exchange collateral trading; the partnership enables institutional derivatives trading via segregated custody.
- RAVE cryptocurrency falls 98% erasing $6.7 billion; the token price crashed to $0.5 following on-chain investigations into insider manipulation.
2) BTC and ETH ETF flows
| Metric | BTC | ETH |
|---|---|---|
| Net inflow | $238,374,250.59 | $67,769,640.43 |
| Value traded | $2,175,563,635.82 | $745,070,839.8 |
| Net assets | $100,328,856,098.10 | $13,764,772,651.32 |
| Cumulative net inflow | $57,978,367,990.02 | $12,011,343,145.44 |
3) X trending news
- Vance Pakistan trip on hold; ceasefire talks with Iran are paused with the deadline expiring in 27 hours.
- Brent crude above $100; oil prices surged as peace talks were paused between the US and Iran.
- US National Debt at $39t; the federal debt has increased 164% since 2011 to reach $39.07t in 2026.
- Apple names new CEO; John Ternus replaces Tim Cook, who transitions to Executive Chairman of the $4t company.
- Amazon invests $25b in Anthropic; the massive infrastructure deal aims to accelerate Claude AI development.
- Warsh asserts Fed independence; the Fed Chair nominee states he will not be a puppet for the administration.
- US Representative resigns; Sheila Cherfilus-McCormick resigned after being charged with stealing $5m in FEMA funds.