Good Morning,

Here's a quick preview of today’s content: South Koreans pay crypto for attacks involving human waste, CFTC signals rulemaking push on prediction markets, Visa and Stripe plan global expansion of stablecoin card, JPMorgan’s Jamie Dimon slams stablecoin yield demands, CFTC says crypto-linked perpetual futures are coming soon, and so much more

Happy Wednesday - Let’s dive in.

Market Snapshot

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• Bitcoin falls below $67,000 as dollar surge and oil shock pressure crypto markets amid Iran conflict

  • Iranian exchange outflows spike to $10.3M post-airstrikes as crypto volume plunges -80%

  • BTC ETFs post $458M in net inflows, one of the quarter's biggest days

  • ETH supply on exchanges drops to multi-year lows as total market cap dips less than -1% to $2.41T

  • Prediction market fever cools in February as geopolitical uncertainty enters fourth day

• Oil surges and inflation fears drag down BTC as equities slide and dollar spikes to 6-week high

Prediction Markets

• Bettors on Polymarket are predicting which hedge fund blew up?

• Track and trade live odds on any event, only on Polymarket

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

• Anthropic's AI used in Iran strikes after Trump cut ties (DC)

• Trump escalates confrontation with banks over crypto agenda (BBG)

• JPMorgan’s Jamie Dimon slams stablecoin yield demands (DC)

• Nasdaq seeks SEC approval for prediction-style options (TB)

• Military action in Iran exposes split between Polymarket and Kalshi (FM)

• CFTC says crypto-linked perpetual futures are coming soon (BBG)

• Finance minister pledges reform after crypto handling failure in Korea (DC)

• Japan prime minister Takaichi disavows Solana meme coin (CD)

• Saylor emphasizes safety in sales pitch to corporations (BBG)

• Trump brothers' American Bitcoin boosts mining capacity (DC)

• Strategy spends $200M on Bitcoin (DC)

• BitMine shares jump as Tom Lee reports latest buy (DC)

• US government moves roughly $23K in bitcoin (TB)

• Anthony Pompliano’s treasury company adds 450 BTC (TB)

• Core Scientific may sell all Bitcoin for AI pivot (DC)

• MARA says it may sell BTC in strategy shift (DC)

• Tether uses Deloitte for reserve report (BBG)

• Vitalik Buterin unveils plan to curb Ethereum centralization (CD)

• Riot and SBI reach $20M settlement in mining dispute (TB)

• CME captures 75% of crypto market cap with futures (TB)

• AI agents show strong preference for bitcoin over fiat (BM)

• BitMEX co-founder pledges $27M to London institute (CT)

• Kalshi partners with luxury watch marketplace Bezel (TD)

• Hong Kong links with Shanghai to put cargo data on blockchain (CD)

• TCS Blockchain taps PayPal to expand trade financing (TB)

• Sony Bank and JPYC test instant yen stablecoin buys (CT)

• Aptos holders pass proposal to hard cap supply at 2.1B (TD)

• Bitcoin company Fold pays off $66M debt (CT)

Venture Capital

• Crypto venture fund Paradigm raises $1.5B for AI and robotics fund (BL)

• Japanese payments firm PayPay seeks to raise $1.1B in Nasdaq IPO (CD)

• CZ-backed YZi Labs invests $100M in Hash Global's BNB fund (TB)

• VC firms Sequoia Capital and Founders Fund invest in financial app ARQ via $70M raise (BBG)

• Hypercycle, an AI-blockchain network, raises $35M Series B led by Binance Labs and Pantera Capital (AN)

• Decentralized cloud startup Akave raises $6.65M from Protocol Labs, No Limit Holdings, Blockchange Ventures, and more (BW)

Access the complete VC deal flow on Fundable.

Launches

• Visa and Stripe plan global expansion of stablecoin card (TB)

• Crypto.com launches IRA product with stocks and crypto (TB)

• Mastercard adds SoFiUSD for card issuers (CT)

• Ripple expands stablecoin payments stack for banks (CT)

• Northern Trust enters tokenized Treasurys market (CT)

• Bitfinex revives tokenized bonds targeting yield (CT)

• BitGo expands crypto-as-a-service across EEA (CT)

• St. Cloud Credit Union rolls out crypto platform (BM)

• Threshold launches all-in-one Bitcoin app (CD)

• Pump.fun adds support for tokens launched on rival generators (TB)

• Cake Wallet launches lightning network support (BM)

Regulation

• Senate advances housing bill with CBDC ban (DC)

• French Hill urges Senate to take up House crypto bill (TB)

• ECB warns stablecoins pose risk to monetary policy (BBG)

• CFTC signals rulemaking push on prediction markets (TB)

• Court ruling raises risk of Nevada halting Polymarket (DC)

• Calls mount for UK to ban political donations in crypto (DC)

• Indiana signs bill allowing Bitcoin in retirement plans (BM)

• Turkey unveils 10% crypto income tax proposal (CD)

• Paraguay explores using seized miners for operation (BM)

Cybersecurity

• South Koreans pay crypto for attacks involving human waste (DC)

• Ex-LAPD officer found guilty of $350K attack robbery (DC)

• Uniswap wins dismissal in token scam class action (TB)

• Watchdog warns stablecoins increasingly used in money laundering (CD)

• Crypto hack losses fall to $26.5M in February (TB)

• Prosecutors seek $327K forfeiture over romance scam (TB)

Extra Reads

• Oil prices are rising amid the US-Iran conflict, but whether Bitcoin will suffer is up for debate, as history suggests a bullish BTC price outlook - Will Bitcoin crash if oil prices hit $100 per barrel?

• While the White House has hosted three meetings to discuss how to address stablecoin yield in the Senate's market structure bill, there are no signs of a solution - Can lawmakers pass crypto market structure before the midterms?

Chart of the Day

38% of altcoins are trading near all-time lows

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