Mahathir Bayena

South Carolina has dismissed its lawsuit against Coinbase over the company’s staking services, following a similar decision by Vermont.  

According to a joint stipulation filed on March 27, the case was officially dropped by the South Carolina Attorney General’s securities division.  

“South Carolina just joined Vermont to dismiss its unfounded staking lawsuit against Coinbase,” stated Paul Grewal, Coinbase’s chief legal officer, acknowledging the decision.

“This is not just a victory for us, but for American consumers, and we hope it's a sign of things to come in the few states left that restrict staking,” he added.  

The lawsuit was initially filed on June 6, 2023, as part of a broader crackdown that involved ten states, including Alabama, California, Illinois, Kentucky, Maryland, New Jersey, Washington, and Wisconsin.  

On February 27, 2025, the Securities and Exchange Commission officially dismissed its case against Coinbase, raising hopes for similar outcomes in other states.  

Grewal argued that South Carolina residents lost approximately $2 million in staking rewards due to the legal action.  

“The 52 million Americans who own crypto deserve commonsense consumer protections and clear rules,” he said.  

Meanwhile, South Carolina has introduced the "Strategic Digital Assets Reserve Act," a bill that could allow the state treasurer to allocate up to 10% of certain state funds to Bitcoin (CRYPTO:BTC) .  

Filed by Representative Jordan Pace on March 27, the bill proposes a Bitcoin reserve that could reach up to 1 million BTC.  

According to Bitcoin Law, 42 Bitcoin reserve bills have been introduced across 19 states, with 36 still active.  

This comes after US President Donald Trump signed an executive order to create a Strategic Bitcoin Reserve, initially funded with cryptocurrency seized in government criminal cases.

Today marks a pivotal moment for the cryptocurrency market as over $14.21 billion in Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH) options are set to expire, potentially influencing short-term price trends.  

Bitcoin options account for $12.075 billion of the total notional value, with a put-to-call ratio of 0.49, indicating a higher prevalence of call options.  

The maximum pain point for Bitcoin is $85,000, the price level that would result in the greatest financial losses for option holders.  

Ethereum options comprise $2.135 billion in notional value, with a put-to-call ratio of 0.39 and a maximum pain point at $2,400.  

This quarterly expiry is significant due to its alignment with the last Friday of March, a convention adopted by Deribit to mirror traditional financial market practices.  

Compared to last week’s expiry, which involved $1.826 billion in BTC and $264.46 million in ETH options, today’s figures highlight the scale of this event.  

Deribit analysts observed implied volatility curves for both assets, noting Bitcoin’s strong upside skew with calls priced higher than puts.  

Ethereum’s flatter curve suggests less directional bias but still reflects elevated volatility heading into or following the expiry.  

Market sentiment remains cautiously bearish for Bitcoin, with traders anticipating a retest of levels around $84,000–$85,000.  

Some analysts also highlight resistance at $88,400 and support at $77,000 as key technical levels to watch.  

Greeks.live analysts noted that implied volatility is under pressure due to the quarterly delivery, presenting opportunities for traders to exploit deviations through strategic adjustments.  

As traders navigate this high-stakes expiry event, the outcome could set the tone for Q2 price movements in the cryptocurrency market.  

Both Bitcoin and Ethereum markets are expected to experience heightened activity as contracts are settled or rolled over, potentially leading to notable price swings.

At the time of reporting, the Bitcoin price was $85,081.24, and the Ethereum price was $1,906.16.

Harpie, a Web3 security platform backed by Coinbase Ventures and OpenSea, announced its immediate closure on March 27, citing an unsustainable business model.  

The platform aimed to create a “theft-free crypto ecosystem” by offering an on-chain firewall that monitored transactions in real-time to prevent hacks, scams, and theft.  

Despite its innovative approach, Harpie struggled to generate sufficient revenue in the competitive Web3 space.  

“We attempted to create a theft-free crypto ecosystem, but unfortunately could not create a sustainable business model around it,” the team stated.  

Harpie raised $4.5 million in funding in 2021, with backing from Dragonfly Capital and other major investors.  

Initially charging a 7% fee on recovered assets, the company later transitioned to a fixed fee of 0.01 ETH per asset in an attempt to stabilie its operations.  

The platform’s shutdown surprised many in the crypto community, given its active promotion and user engagement efforts, including referral programs and giveaways.  

Harpie assured users that pending rewards from its campaigns would be honored and announced plans to develop a utility for transferring vaulted assets securely via its website.  

Users were advised to disconnect their wallets from Harpie’s RPC immediately to avoid transaction failures.

Harpie’s shutdown leaves a gap in the market for wallet protection tools, with alternatives like GoPlus Security and Kerberus Sentinel3 gaining attention as potential replacements.  

The company expressed hope that its efforts would inspire others to continue addressing security challenges in the blockchain industry.  

Bitso, a Latin American cryptocurrency exchange, has introduced MXNB, a Mexican peso-backed stablecoin, on the Arbitrum (CRYPTO:ARB) network.  

The stablecoin, issued through Bitso’s new subsidiary Juno, aims to streamline cross-border payments and remittances in the region.  

MXNB is fully backed by Mexican pesos and leverages Arbitrum’s low fees and fast transaction speeds to enhance accessibility for users.  

“MXNB enables global companies to do business in Latam in a more efficient way,” said Ben Reid, Head of Stablecoins at Bitso Business.  

The stablecoin targets key use cases, including cross-border payments and remittances, which totaled nearly $65 billion from the U.S. to Mexico in 2024, according to BBVA Research.  

By facilitating direct exchanges between dollar stablecoins and MXNB, the initiative reduces reliance on traditional banking systems.  

Mexican fintech companies can also use MXNB to offer peso-based savings accounts, promoting an on-chain economy independent of traditional finance.  

Remittance operators stand to benefit from lower operational costs by adopting cryptocurrency rails for transactions.  

MXNB’s launch aligns with growing demand for stablecoins backed by currencies other than the U.S. dollar.  

Arbitrum’s Ethereum-based rollup technology ensures scalability and efficiency, making it ideal for high-volume transactions in Latin America.  

“Juno will be a key player to issue and exchange digital tokens that can foster the region’s opportunities,” Reid added.  

The initiative reflects Bitso’s commitment to innovation in the digital asset space, particularly in addressing regional financial challenges.  

MXNB’s introduction could significantly impact the remittance market, offering faster and more cost-effective solutions for users.  

The stablecoin also opens new avenues for businesses and individuals to engage with digital assets in Mexico and beyond.  

Bitso’s move underscores the potential of blockchain technology to transform traditional financial systems in emerging markets.  

The launch of MXNB marks a milestone in the adoption of stablecoins for practical, real-world applications in Latin America.  

At the time of reporting, the Arbitrum price was $0.3596.

Binance has announced the results of its first “Vote to List” campaign, selecting four tokens for listing on its spot trading platform.  

The exchange received over 185,000 votes from its community, with four tokens—Mubarak (CRYPTO:MUBARAK), CZ’s dog (CRYPTO:BROCCOLI), Tutorial (CRYPTO:TUT), and banana for scale (CRYPTO:BANANAS31)—passing the final cut.  

“Following the Vote to List results and completion of due diligence, Binance will list these tokens,” the exchange stated.  

The selected tokens will have trading pairs with USDT (CRYPTO:USDT) and USDC (CRYPTO:USDC), with deposits opening on March 27 and withdrawals available from March 28.  

Binance emphasized that the selection process involved more than just voting data.  

“The four tokens were selected based on a comprehensive evaluation of multiple factors,” a spokesperson explained.  

The exchange reviewed raw voting figures, community engagement, trading activity, and risk compliance, filtering out over 12,000 invalid votes.  

Mubarak ranked highest in eligible votes under one of Binance’s voting methodologies, while BANANAS31 led in another.  

Tokens not selected in this round remain eligible for future consideration, subject to ongoing performance reviews and due diligence.  

All four tokens will carry a Seed Tag, indicating higher risk and volatility.  

Users must pass quizzes every 90 days to acknowledge the risks before trading these tokens.  

Regional restrictions also apply, with trading availability dependent on users’ country or region of residence.  

Binance Alpha users who previously held these tokens can now transfer them to Spot Accounts for continued trading.  

The “Vote to List” initiative marks a shift toward community-driven token listings and greater transparency in the selection process.  

This approach allows Binance to align its offerings with user preferences while maintaining rigorous compliance standards.  

The listing of these tokens is expected to diversify Binance’s trading options and cater to evolving market demands.  

The exchange has not provided a timeline for future Vote to List campaigns but indicated that the initiative will continue.  

At the time of reporting, the Mubarak price was $0.09468, the CZ'S Dog price was $0.058, the Tutorial price was $0.03667, and the Banana For Scale price was $0.005493.

Brazil is exploring the possibility of allocating 5% of its foreign reserves to Bitcoin (CRYPTO:BTC), sparking a national debate on the cryptocurrency’s role as a strategic asset.  

Pedro Giocondo Guerra, chief of staff to Vice-President Geraldo Alckmin, recently emphasised the importance of discussing Bitcoin as part of Brazil’s reserve strategy.  

“Debating rigorously the creation of a sovereign reserve of bitcoin value is in the public interest and will be crucial to our prosperity,” Guerra stated during the inauguration of the Parliamentary Front for a Competitive Brazil.  

He referred to Bitcoin as “digital gold” and highlighted its utility as both a transactional tool and a store of value.  

“It is a technology that allows us to transfer wealth from one end of the planet to the other with agility and store the fruits of our labor efficiently and securely,” Guerra added.  

The proposal to establish a Bitcoin reserve was introduced by Federal Deputy Eros Biondini in November 2023.  

It calls for the allocation of 5% of Brazil’s total foreign reserves to Bitcoin, marking a significant shift in the country’s approach to digital assets.  

Unlike the United States, which holds Bitcoin reserves primarily from seized assets, Brazil’s plan involves direct purchases approved by lawmakers.  

President Luiz Inacio Lula da Silva’s administration has remained neutral on the issue, but the proposal has gained traction among high-ranking officials.  

Brazil was among the first nations to introduce regulations for converting part of its foreign reserves to Bitcoin.  

The move aligns with global trends as countries increasingly explore cryptocurrencies as part of their financial strategies.  

The debate in Brazil reflects broader discussions on Bitcoin’s potential to enhance national competitiveness and economic resilience.  

If approved, the initiative could position Brazil as a leader in integrating digital assets into sovereign reserve systems.  

The proposal remains under consideration, with no immediate timeline for implementation.  

The outcome of this debate could set a precedent for other nations exploring similar measures.  

At the time of reporting, the Bitcoin price was $85,754.64.

A crypto analyst predicts Bitcoin (CRYPTO:BTC) could reach $123,000 by June, citing easing financial conditions and a weakening US dollar as key drivers.  

Jamie Coutts, chief crypto analyst at Real Vision, stated that the market may be underestimating how quickly Bitcoin could surge to new all-time highs.  

“The market may be underestimating how quickly Bitcoin could surge – potentially hitting new all-time highs before Q2 is out,” Coutts told Cointelegraph.  

He based his forecast on recent macroeconomic developments, including a significant decline in the US dollar and increased liquidity from the People’s Bank of China.  

“Financial conditions have eased dramatically this month, highlighted by the US dollar’s third-largest three-day decline since 2015 and significant drops in rates and Treasury bond volatility,” Coutts explained.  

Bitcoin recently dipped below $100,000 on February 2, with analysts attributing the downturn to uncertainty surrounding US tariffs and interest rates.  

At the time of publication, Bitcoin was trading at $85,880, marking a 3.16% decline over the past month, according to CoinMarketCap data.  

Coutts referenced a March 7 post on X, where he analysed the US Dollar Index (DXY) and its historical performance.  

He noted that based on this analysis, Bitcoin’s 90-day forecast ranges from a worst-case scenario of $102,000 to a best-case scenario of $123,000 by June 1.  

The upper target would represent a 13% increase over Bitcoin’s current all-time high of $109,000, reached on January 20.  

BlackRock’s head of digital assets, Robbie Mitchnick, also suggested that Bitcoin could thrive in a recessionary environment.  

“I don’t know if we’ll have a recession or not, but a recession would be a big catalyst for Bitcoin,” Mitchnick said in a March 19 interview.  

However, CryptoQuant’s Bull Score Index indicates that Bitcoin is currently experiencing its least bullish conditions since January 2023.  

The index, which measures market sentiment, is at 20, signaling weak market conditions and low chances of a strong rally in the near term.  

Historically, prolonged periods with the index below 40 have been associated with bearish market phases.  

At the time of reporting, the Bitcoin price was $85,810.85.

Logan Paul’s defamation lawsuit against YouTuber Stephen Findeisen, known as Coffeezilla, will move forward after a Texas magistrate judge ruled that the claims presented by Paul were “reasonably capable of defamatory meaning.”  

Filed in June 2023, the lawsuit accuses Coffeezilla of making damaging statements about Paul’s failed CryptoZoo project through social media posts and YouTube videos.  

Magistrate Judge Henry Bemporad recommended denying Coffeezilla’s request to dismiss the case, stating that his remarks were presented as factual assertions rather than opinions.  

“The court should reject defendants’ contention that context renders Findeisen’s statements nondefamatory,” Bemporad wrote in his report.  

The judge also noted that disclaimers in Coffeezilla’s videos were not prominently displayed and did not alter the factual nature of his claims.  

CryptoZoo, launched in 2021, was marketed as a blockchain-based game where players could buy NFT eggs that hatch into hybrid animals, earning tokens based on their rarity.  

However, the project faced significant setbacks and accusations of mismanagement.  

Coffeezilla released videos labeling CryptoZoo a “scam” and called Paul a “serial scammer,” allegations Paul denies.  

He claims he was misled by advisers involved in the project and had intended to create a legitimate game.  

Paul has pledged $2.3 million for refunds to affected CryptoZoo investors but conditioned the reimbursement on claimants agreeing not to sue.  

Meanwhile, he has also faced a class-action lawsuit from CryptoZoo buyers and filed counterclaims against former business partners he alleges contributed to the project’s failure.  

Both parties have 14 days to object to Bemporad’s report before it is reviewed by federal Judge Orlando Garcia.  

Neither Paul nor Findeisen provided comments following the ruling.  

The European Insurance and Occupational Pensions Authority (EIOPA) has recommended mandating insurers to hold capital equivalent to the full value of their cryptocurrency holdings, citing risks tied to volatility.

The proposal, outlined in a March 27 Technical Advice report to the European Commission, aims to align crypto asset regulations with the Markets in Crypto-Assets (MiCA) framework.

EIOPA’s stance stems from crypto’s “inherent risks and high volatility,” as noted in its statement.

The authority rejected a proposed 80% stress level for crypto assets, arguing it was insufficient.

“An 80% stress to the value of crypto-asset exposures does not appear sufficiently prudent,” EIOPA stated, adding that a 100% stress aligns with transitional crypto-asset treatments under the Capital Requirements Regulation (CRR).

The measure would impose stricter requirements than those for traditional assets.

Stocks face capital charges ranging from 39% to 49%, while real estate requires 25%.

EIOPA emphasised that crypto’s historical volatility—Bitcoin (CRYPTO:BTC) and Ether (CRYPTO:ETH) have fallen 82% and 91%, respectively, in past downturns—justifies the stricter standard.

Luxembourg and Sweden, which account for 90% of Europe’s crypto-related insurance exposures, would bear the brunt of the rule.

Most holdings are structured in funds like exchange-traded products for unit-linked policyholders.

EIOPA acknowledged the current exposure is minimal (0.0068% of total undertakings) but stressed the need for preemptive safeguards.

The proposal faces scrutiny from industry players.

Circle, a stablecoin issuer, previously argued that blanket stress factors fail to distinguish lower-risk assets like stablecoins.

EIOPA countered that diversification offers no mitigation against crypto’s systemic risks.