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Here's a quick preview of today’s content: 23andMe got acquired and now the buyer has BIG plans for the data that includes the blockchain, Sen. Elizabeth Warren can’t stop hating on crypto, GameStop stock drops after Bitcoin announcement, Maven 11 raising and eye watering crypto fund, Paul Atkins has to sell his crypto related bag, and much more.

We finally made it - HAPPY FRIDAY

Let’s dive in

Market Snapshot

• $12 Billion worth of Bitcoin options contracts expire tomorrow

  • On Deribit alone, the March 28 expiry affects 45% of the open options contracts on the platform

  • The exchange currently has $27B worth of open interest in Bitcoin contracts, with the put/call ratio skewing slightly pessimistic at 0.52

Headline Roundup
^{_{The major headlines driving crypto markets}}

• Sei Foundation considers acquiring 23andMe to put genetic data on blockchain - see the wild details about this here

• JPMorgan highlights massive growth of yield-bearing stablecoins (TB)

• SBF relocated to Oklahoma after unauthorized Tucker Carlson interview (BA)

• Paul Atkins, incoming SEC chair, reportedly discloses $6M in digital assets owned - see the breakdown of the assets here

• President Trump to sign repeal of controversial DeFi broker rule (DE)

• CoreWeave reportedly slashes valuation to $23B, potential setback for crypto (CD)

• GameStop stock dips 25% after Bitcoin purchase announcement (YF)

• Elizabeth Warren criticizes SEC chair nominee (DE)

• Binance founder CZ charges 125 BNB for 'ReachMe' service (DE)

• Decentralized exchange Hyperliquid introduces ETH spot trading after merging Hypercore and Hyperevm (TB)

• Dolomite expands onto Bitcoin via Ethereum-connected Spiderchain developed by Botanix Labs (TB)

• Vitalik Buterin transfers 250 ETH worth $500K to privacy protocol Railgun (TD)

• The Blockchain Group acquires 580 Bitcoin for €47.3M, total holdings reach 5,700 BTC (TD)

• Pumpswap surpasses Raydium to become largest Solana DEX (TD)

• Tokenized gold reaches new record market cap as trading volumes soar in March (CD)

• Tether increases stake in $1.12B agricultural firm Adecoagro to 70% (CD)

• Tether introduces cross-chain USDT on OP Superchain (CT)

• A crypto whale purchased $103M worth of ETH on Coinbase (CT)

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Launches

• Off-Grid Gunz Network launches Gun Token (DE)

• Sui-based decentralized storage protocol Walrus launches mainnet (TD)

Venture Capital

• Crypto VC firm Maven 11 launches $107M Fund III (TB)

• Bpifrance, a French state bank, announces $27M crypto fund (BB)

• Circle and Near invest $14M in remittances app for Indian diaspora (CD)

• Tether acquires 30% stake in Italian media company Be Water with $10.8M investment (CT)

• Warlock Labs receives $8M backing from Polychain Capital, Reciprocal, and others (CD)

• Manifold Trading and Luganodes co-lead $3.14M round for Capx AI (CX)

• Solana electric vehicle energy network DeCharge closes $2.5M round led by Lemniscap (DT)

• Magpie Protocol raises $1.6M via public token sale with funding led by Fjord Foundry (CH)

• Computing network startup Arcium raises $1M angel round (CH)

Regulation

• House Majority Whip Tom Emmer criticizes Wyoming's stablecoin initiative (BA)

• South Korean exchange Upbit reports massive earnings growth in 2024 amid regulatory challenges (CS)

• Over 400 South Korean officials hold ~ $10M of crypto holdings (CT)

Cybersecurity

• DOJ disrupts Hamas terrorist scheme by seizing crypto held in USDT (TB)

• Coinbase-backed Web3 security firm Harpie announces shutdown (TB)

• 57% of Argentines distrust President Javier Milei after Libra controversy (CT)

• Crypto hack roundup to finish Q1 2025 (BiS)

Extra Reads

• 2025 is the first bull run with capital so thinly deployed across infinite digital assets

  Here’s how to avoid the 99% of crypto tokens that will go to zero

Chart of the Day

More than $31B of stablecoins are sidelined in Binance’s reserves

Meme Dump

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