Solana Labs co-founder Anatoly Yakovenko has revealed that he is against a crypto reserve in the United States. He believes that a crypto reserve will lead to the failure of decentralization once the government is put in charge of it. Yakovenko proposed that the state should run its own reserve as a hedge against the Fed making a mistake. He argues that the U.S. government should base the reserve on objectively measurable requirements. Solana Labs co-founder Toly says he is against a Solana crypto reserve My reserve order of preference 1. No reserve, because if you want decentralization to fail you’d put the government in charge of it. 2. Or states run their own reserve as a hedge against the fed making a mistake 3. Or if there has to be a reserve, it’s based on objectively… https://t.co/LfYXCIeRnG — toly 🇺🇸 (@aeyakovenko) March 6, 2025 Solana Labs co-founder Anatoly Yakovenko has distanced himself from a potential crypto reserve in the United States and gave his reserve order of preference. He argued that a crypto reserve could eradicate decentralization once the U.S. government is put in charge of it. “I don’t care what they are, they can even be constructed such that only bitcoin satisfies them right now, they just must be objectively measurable and rationally justified.” -Anatoly Yakovenko, co-founder of Solana Labs Yakovenko also added that the United States could run its own crypto reserve as a hedge against the Fed making a mistake in the future. He believes that the state should base the reserve on objectively measurable requirements if there has to be a reserve. The crypto firm co-founder also highlighted that the Solana ecosystem will get it done “if there is a target to beat.” Crypto analytic platform Polymarket estimated that 64% of Bitcoin is being used as a U.S. reserve, with Ethereum following at 42%. The firm also identified the chances of XRP and SOL being included for a reserve at 29% and 28%, respectively. The crypto industry is bracing for the White House Crypto Summit on Friday to get further details on the makeup of the reserve, including whether additional tokens will be added. Commerce Secretary Howard Lutnick mentioned that a Bitcoin strategic reserve was something Trump was interested in since he spoke about it all during his campaign trial. Lutnick believes that the other tokens “will be treated differently –positively, but differently.” Ripple pitches to Trump to include SOL in the crypto reserve plan Crypto journalist Laura Shin mentioned that Ripple pitched SOL as part of a national reserve in the United States. Shin argued that sources familiar with the conversations revealed that Ripple made the move to make the inclusion of XRP in a reserve seem more legitimate. Two sources familiar with the matter disclosed that Ripple Labs CEO Brad Garlinghouse and Chief Legal Officer Stu Alderoty reportedly pitched to the President to include SOL in the crypto reserve plan announced on Sunday. Both Ripple executives argued that the inclusion of Solana will give it more legitimacy among the crypto community. The incorporation of Solana as a reserve helped the digital asset firm convey that it was advocating for a crypto reserve that included other virtual tokens. The crypto firm issuer of the XRP token has gained criticism over the years for being a speculative asset with insufficient usage to justify its $145 billion market capitalization. Trump mentioned three tokens, XRP, SOL, and ADA, for potential crypto reserves, but the tokens are not considered stores of value. The inclusion of the tokens has raised questions from Ripple leaders about whether the reserve is a serious project and if it will accumulate large gains. The leaders were also wondering if the reserve is simply a way to give early investors and the insiders behind the tokens a public relations boost. Garlinghouse said on Sunday that the crypto industry will achieve its goals and beyond “IF WE WORK TOGETHER.” He also appreciated the President’s vision of a government digital asset reserve representative of the industry. Ripple’s CEO said that “maximalism is the enemy of the industry’s progress” and was glad to see the U.S. finally moving past Bill Hinman and Biden’s SEC’s “very broken thinking.” National Security Agency whistleblower Edward Snowden raised his concerns about Solana’s venture capital influence in November last year. He called out Solana’s reliance on venture capital and suggested that it compromised the network’s decentralization. Snowden also described the digital asset as “born in prison,” implying that its independence on VC funding could limit its autonomy and alignment with blockchain’s principles. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
Ripple executives propose SOL token for enhancing crypto reserve credibility. Key discussions at the White House Crypto Policy Summit are anticipated. Continue Reading: Ripple Proposes SOL Token to Boost Crypto Reserve Trust The post Ripple Proposes SOL Token to Boost Crypto Reserve Trust appeared first on COINTURK NEWS .
The European Central Bank (ECB) is expected to cut interest rates on Thursday to 2.65%, continuing its easing from a 4.5% peak amid increased volatility in bond markets. The expected easing comes as markets reprice at least three Fed rate cuts for 2025 and Germany and China take the fiscal easing route to shore up their respective economies. In other words, the ECB's impending easing could only add to the ongoing global liquidity easing, offering bullish cues to risk assets, including cryptocurrencies. "Overall, liquidity conditions are supportive and rising, to keep risk and crypto pushing higher, despite this recent correction on growth concerns," founders of the newsletter service LondonCryptoclub said in Thursday's edition. Volatile bond markets The European Union's headline inflation is still not at the central bank's target of 2%, which raises concerns about the impending rate cut and its impact on the European bond markets. Germany’s 10-year bund has climbed to 2.8%, its highest since 2011, pricing in more supply in the wake of Germany's fiscal stimulus announcement. The spike has narrowed the U.S.-German yield spread in favor of the euro, driving the dollar index lower. That, coupled with the tariff threat, has the DXY index falling faster than in President Trump's first term. The U.K. bond yields have also topped those of the U.S. Meanwhile, Japan’s 10-year bond has surpassed 1.5%, a 17-year high, as the Bank of Japan struggles to rein in inflation after three rate hikes after almost ten years of negative interest rates. Volatile bond markets can cause financial tightening, forcing investors to scale back exposure to riskier assets.
The crypto industry is worth $3 trillion today and even higher in a bullish market scenario. Many industry leaders, investors, and service providers have played a significant role in making this happen, setting up decentralization and adoption. As we celebrate International Women’s Day 2025, it is important to discuss the key role Women crypto personalities have played in shaping the future of this industry. Let’s celebrate the leaders transforming this crypto space with innovation, leadership, advocacy, and regulation. Top 6 Women Crypto Personalities 2025 The crypto industry has reached this level of popularity and global adoption due to various contributors, and women have been a significant part of that. Some have built services, some have empowered others, and some have advocated for adoption. This blog honors six Women crypto personalities and their contributions to the cryptocurrency & blockchain space. 1. Gracy Chen – Driving Crypto Exchange Innovation Gracy Chen leads the popular crypto exchange Bitget as the Chief Executive Officer (CEO). She first attributed with Bitget in 2022 as its first managing director (MD). With extreme dedication and effort, she became the CEO in 2024. Her top-most achievement includes co-leading and building a strategy that quadrupled the company’s user base amid its partnership with football legend Leo Messi. Interestingly, she is a former TV host with 10 years of experience in marketing, management, and investment. 2. Cynthia Lummis – The Political Powerhouse of Crypto Regulation Senator Cynthia Limmis is among the most prominent advocates for the crypto industry in the U.S. government. She was among the first senators to publicly endorse Bitcoin and support the vision of building a Bitcoin finance reserve. Interestingly, Donald Trump recently announced the Crypto Reserve , the most awaited event for the crypto industry and Senator Lummis. Lummis has played a significant role in crypto adoption with her social media presence. Additionally, she highlighted the need for better industry regulation, positioning her as the top women crypto personality in 2025. 3. Cathie Wood – The Visionary Investor Cathie Wood is the founder of ARK Invest, an asset management company. She is a prominent personality in the crypto space and freely shares her views and opinions, which gives her the power to influence investors’ sentiments in the crypto market. She is also a renowned crypto analyst and investor known for her bold Bitcoin price predictions. For example, she recently predicted that BTC would reach the $1.5M mark by 2030. 4. Meltem Demirors – Bridging Traditional and Digital Finance Meltem Demirors founded Crucible, a decentralised protocol that provides monetary and non-monetary support against equity for high-potential projects. She is the former Chief Strategy Officer at CoinShares and has earned a name for herself. She also has a background in oil and gas trading. Demiros wishes to shape the digital economy and support projects that advance blockchain technology. Interestingly, she also donates 1% of her crypto holdings annually to support women’s education in Turkey. She is setting the example that blockchain goes beyond wealth accumulation and can change the future of finance. 5. Staci Warden – Expanding Blockchain for Global Financial Inclusion Staci Warden is the founder of the Algorand Foundation. Her role and status in the industry promote financial inclusion and empowerment. Interestingly, her career in bigger financial institutions like JPMorgan, Nasdaq, and the U.S. Treasury shows her deep roots in the industry. More importantly, it shows her efforts and dedication to the finance space. Her roles have led her to work in over 50 countries, where she advocated how cryptocurrency is the solution to poverty and access to financial services. 6. Caitlin Long – Building the Bridge Between Traditional and Digital Banking Last but not least, Caitlin Long is one of the top women crypto personalities in the world. She is a veteran Wall Street executive with over 20 years of experience and later joined the crypto space as a crypto banking innovator. Long founded the Custodian Bank, a Wyoming-based bank that is both a digital asset custodian and a traditional financial institution. As a digital asset custodian, it manages keys and tokens and provides conventional banking services. Final Thoughts This blog mentioned six of the most influential women in the crypto space, but there are many more who have done equally appreciative work. These women have shaped the DeFi industry, and their role goes far beyond holding digital assets. With their vision for development, they will play a significant role in expanding and evolving the crypto industry. So, on Women’s Day, let’s celebrate the pioneers who are building the future of finance and influencing others to do the same. The post Top Women Crypto Personalities 2025: How They Are Shaping the Future Beyond HODLing? appeared first on CoinGape .
Summary Roundhill Bitcoin Covered Call Strategy ETF offers a high yield of nearly 55% with weekly distributions, but underperforms Bitcoin due to its capped upside and complex options strategy. The fund's distributions are primarily return-of-capital, making it tax-efficient but volatile, with income dependent on Bitcoin's volatility. Compared to MAXI, YBTC's capped upside limits its potential, making it less attractive despite its higher yield and frequent payouts. Aggressive investors might consider a small allocation in YBTC, but conservative investors should avoid it; I rate YBTC a hold. Introduction Recently, I covered a Bitcoin ( BTC-USD ) income fund called MAXI. After that article, I began to hear about other Bitcoin income ETFs, and in particular the Roundhill Bitcoin Covered Call Strategy ETF (YBTC) came up several times. I'm always searching for ETFs to build better portfolios with, and if this fund could replace MAXI in my portfolio, it's worth taking a look at. As far as I can tell, YBTC is the oldest Bitcoin covered call ETF on the market, so it has that going for it at the very least. Launched a little over a year ago in January 2024, YBTC has performed decently, returning 42% to shareholders in total return (which includes dividends paid, but not reinvested), and losing a little under 14% in price. This kind of erosion is expected for covered call funds, typically, and returns are expected to come primarily in the form of distributions. Data by YCharts Compared to BTC itself, the fund found itself lacking somewhat, returning less than half what BTC did over the same timeframe. That is to say, however, that owning BTC does not necessarily produce income on its own. While YBTC underperformed on the total return front, it did produce a very high yield all the while. YBTC Dividends & Yield YCharts only allows me to show TTM ("trailing twelve months") distribution rates, so this is zoomed into 2025, since there is no data from before that due to how young the fund is. The current rate, based on the TTM formula , is almost at 55%, having previously reached a high of nearly 57%. Data by YCharts The distributions come weekly, which can be relevant to some investors, especially those needing the income in order to pay for expenses, and prefer the weekly cash infusions over monthly like MAXI pays. In the two charts below, the "D" symbol denotes a distribution event. Data by YCharts The fund has only been paying weekly since 2025, and issued dividends monthly before that. That's why the actual dividends will be much higher than current ones, which are lower per payment since there are more of them. When looking at the full version of that chart, going back to inception, we see the older dividends at a much higher rate. Don't expect the fund to go back to those anytime soon, unless they go back to monthly distributions. The average of $0.50/share is much closer to the norm moving forward than the all-time $1.308/share average dividend. Data by YCharts The fund is actively managed, meaning that its dividends will be volatile, sometimes going as high as it was in April 2024, or as low as recently, a massive gap even when adjusting for the change from monthly to weekly payments. When looking at yields, make sure you understand which metric you are looking at for the fund, and what it represents. YCharts uses TTM, but the Roundhill website seems to be using a FWD or "forward" metric, as it advertises a far lower rate. Roundhill Investments Also, note the very low 30-Day SEC Yield. This is due to the way that rate is calculated, which only includes distributions of investment income. This means that the options income, premium received from the covered call strategy, doesn't count as it is classified as return-of-capital ("RoC") when distributed to shareholders. YBTC Tax Considerations When looking at the YBTC 19a-1 forms, where they classify their distributions, we see that returns from the last distribution were entirely RoC. Roundhill Investments They did experience a year-end investment income distribution, paid out on 12/31. This should be expected for the future end-of-year dividends as well, but the other weekly distributions will likely continue to be RoC. Roundhill Investments RoC isn't a bad thing, necessarily; this is not the fund just paying shareholders their own capital, it is how options premium is accounted for. Options premium distributions are taxable as RoC, and so Roundhill among other managers distributing options-based ETFs are opting to keep their distributions as close to 100% RoC as possible. It just changes how taxes are paid. Distributions that include RoC are counted against the cost-basis of your shares, and only create a taxable event when you sell those shares. This means that the income is tax-deferred until the sale of the shares, or until your cost-basis becomes zero. If you get to zero on your cost-basis, new RoC distributions would be considered long-term capital gains, according to this IRS publication . A nondividend distribution reduces the basis of your stock. It is not taxed until your basis in the stock is fully recovered. This nontaxable portion also is called a return of capital; it is a return of your investment in the stock of the company. If you buy stock in a corporation in different lots at different times, and you cannot definitely identify the shares subject to the nondividend distribution, reduce the basis of your earliest purchases first. When the basis of your stock has been reduced to zero, report any additional nondividend distribution you receive as a capital gain. Whether you report it as a long-term or short-term capital gain depends on how long you have held the stock... Example 1. You bought stock in 2010 for $100. In 2013, you received a nondividend distribution of $80. You did not include this amount in your income, but you reduced the basis of your stock to $20. You received a nondividend distribution of $30 in 2023. The first $20 of this amount reduced your basis to zero. You report the other $10 as a long-term capital gain for 2023. You must report as a long-term capital gain any nondividend distribution you receive on this stock in later years. Of course, this is only relevant to investors holding this fund outside a tax-advantaged account. It does mean that YBTC is "tax-efficient," so to speak, because it offers investors the flexibility of choosing when to create the taxable event, and at what may be a lower rate, depending on your tax situation. For most folks, their long-term capital gains tax rate will be lower than their income tax rate. YBTC Strategy & Holdings Followers of mine should have seen me write about the YieldMax family funds before. Roundhill operates essentially the same strategy as YieldMax funds do, which is that they open synthetic long positions using bought calls and sold puts on the iShares Bitcoin Trust ETF ( IBIT ) and the Bitcoin US ETF Index ( CBTX ), and sells call against those positions. If you want a deeper explanation and breakdown for this strategy, I suggest reading my article on AMZY , a YieldMax fund with the same principal strategy. This strategy results in YBTC's holdings looking like this, entirely options. Presumably, they are also holding 100% of NAV in cash to secure all of these options. That is also presumably where the net investment income is coming from in the year-end distributions. Roundhill Investments YBTC Risks There are several risks associated with this fund that investors need to consider when investing in YBTC. The first is that its upside exposure to Bitcoin is capped. Roundhill publishes the cap daily on its website . This shows us how much upside is left on the contracts traded; the fund is actively managed and trades essentially every day. Holdings and the caps are updated daily on the website, however, so it's relatively easy to keep track of if one wanted to do that. Roundhill Investments This cap is what leads to the inevitable underperformance of most of these kinds of funds to their reference assets, because they still incur all the downside of the reference asset, only buoyed by the income received. Data by YCharts They often lose more than they gain, since the gains are capped, which leads to losses that grind down the fund's price over time. Data by YCharts There is also great risk in the options strategy, as it is complex and is subject to price changes based on the underlying options math as opposed to spot exposure. Consider that volatility in the underlying asset, Bitcoin, creates higher premiums for YBTC, and thus more income. However, the opposite is also true, in that low volatility leads to lower income. Volatility can change the return profile of the fund dramatically, which is not present in holding Bitcoin on its own. One of the reasons I prefer MAXI is due to it not having an upside cap on BTC, and instead generating its income from options spread sold on indices and commodities. That has led to periodic outperformance and underperformance of Bitcoin itself, whereas YBTC has only trailed the asset. Data by YCharts Investors need to be comfortable with the possibility of this continuing, as well as the risk of inconsistent dividends due to their value being reliant on Bitcoin's volatility. Investors will have a very hard time anticipating future incomes because of this. Suitability I am recommending that investors carefully consider YBTC. Aggressive investors could consider up to a 3% allocation in a diversified portfolio, and moderate investors could consider up to a 1% allocation. Conservative investors are cautioned to stay away from cryptocurrencies entirely, let alone Bitcoin funds that sell options like YBTC. In my own portfolio, MAXI holds a 2.5% allocation. You can check that out here . I am giving YBTC a hold rating as I believe it is doing its job of generating Bitcoin income, but that a better alternative in MAXI exists that doesn't suffer from the same cap to Bitcoin. Conclusion Ultimately, the Roundhill Bitcoin Income Strategy ETF ( YBTC ) is a very high yield opportunity, and one that may pay off, but may not. Its upside cap to Bitcoin is very low, considering how volatile Bitcoin itself is, and its volatility toward the upside is one of the primary benefits to owning it in the first place. YBTC earns a hold because I believe that we have a better ETF on the marketplace for this job, but I can see why some investors would be interested in the fund for its high, weekly distributions. A rate of 55% is nothing to sneeze at, and YBTC is one of few funds that can claim that they distribute income every week. Thanks for reading.
The post Bitcoin Manipulation Could End Soon—Here’s When the BTC Price May Begin to Expand appeared first on Coinpedia Fintech News Ever since Donald Trump won the presidential election, the Bitcoin price and the entire crypto market have been heavily influenced by external factors. The markets rallied, buoyed by positive news from the White House, while plummeting sharply due to stringent steps taken in trade with other countries. Meanwhile, the ongoing manipulation phase has happened previously in the past, which has resulted in a massive explosion. Hence, the BTC price appears to have reached the edge, which could elevate the levels towards a new ATH soon. The BTC price has been trading within a narrow range, suggesting the bulls could be accumulating strength before the next price action. With a rise above $90,000, the price has seen a momental shift and is expected to trigger a strong bullish trend if it rises above the pivot. Currently, Bitcoin has entered one of the most important ranges ahead of the White House Crypto Summit. Hence, the revelation about the Crypto Statergic Reserve is expected to kick off a strong rally, probably above the psychological barrier at $94,200 initially and later close to $99,000. The Bitcoin price has remained stuck within a defined price range between the 200-day & 50-day MA, which are acting as strong support and resistance at the moment. Although the price rebounded from the support, the bullish validation has yet to occur, which could take some more time. The BMSB is about to flip to bullish as the levels are heading towards a bullish crossover. However, the RSI remains stuck below the descending trend line, which has been a strong resistance from long. A rise above the line may only validate a change in the trend, and until then, the token may remain consolidated below $93,300. The next few days are expected to be highly volatile as the upcoming Crypto Summit is hosted by the U.S. President, Donald Trump. Almost all the crypto personalities, including the founders & CEOs of Ripple, Cardano, Ethereum, etc., and many more, are expected to be part of it. Moreover, the president is expected to reveal a Bitcoin Statergic Reserve, which is expected to increase the market volatility. On the other hand, Trump’s World Liberty Financial bought $10 million worth of BTC, ETH, & MOVE, which raises the possibility of a breakout. Therefore, the Bitcoin price is expected to receive yet another bullish boost soon after the summit that may elevate the levels above the bearish influence.
Uniswap’s controversial launch of Unichain, its Layer-2 platform, has ignited concerns about governance and the impact on UNI holders. This move has raised eyebrows as critics argue it favors Uniswap
Stellar (XLM) is attempting to reclaim a recently lost level that could propel the price to a retest of a key resistance zone. Some market watchers suggested that its price could be preparing for a massive surge to a new all-time high (ATH). Related Reading: Cardano 125% Pump Coming? Analyst Says ADA ‘Could Be Poised’ For Rally To $2.20 Stellar Getting Ready For 300% Breakout Stellar has seen a 9% surge in the past day, recovering from this week’s market dump and rallying to the $0.30 mark again. According to crypto analyst Ali Martinez, Stellar could witness a 300% breakout soon as the cryptocurrency appears to be forming a bullish pattern. After the November 2024 breakout, XLM started to form a bullish flag, with the 600% post-US election rally forming the pattern’s flagpole. Since then, Stellar has been consolidating between the $0.63 and $0.25 price range, forming the pattern’s flag. Since hitting its 3-year high in December, XLM has seen a 52% price decrease, failing to break above its downtrend line. During the February market retraces, the cryptocurrency retraced nearly 40% from its monthly opening, hitting its lowest price action since November. Over the weekend, Stellar followed the rest of the crypto market, fueled by US President Donald Trump’s announcement of a US Crypto Strategic Reserve comprised of “made in the USA” cryptocurrencies like XRP, Cardano (ADA), and Solana (SOL). XLM surged around 25% from the range’s lower levels to $0.37, retesting the $0.35 key resistance. The $0.32-$0-35 range has been a key zone for the cryptocurrency since the Q4 2024 breakout, serving as a crucial support level until turning into resistance in February. As the analyst pointed out, “A sustained break above the $0.42 resistance could trigger a bull run to $1.60.” Nonetheless, the cryptocurrency’s recent performance has failed to reclaim a key level in the mid-zone of its 3-month price range. XLM Following 2017’s Playbook? XLM failed to hold the $0.35 level amid the Monday market dump, retracing 20% and erasing the Sunday gains. Breaking above this resistance could send Stellar’s price to the bull flag’s upper range while failing to reclaim it could send the price to the pattern’s lower range between $0.20 and $0.23. On Tuesday, the cryptocurrency continued bleeding and retested its recent lows as support. XLM bounced from $0.27 above the $0.30 level on Wednesday morning, attempting to reclaim it. Technical Analyst Charting Guy highlighted that XLM’s Relative Strength Index (RSI) recently broke out of a 96-day downtrend “while price consolidated in the golden pocket with time capitulation getting to people.” Related Reading: Ethereum Price ‘Between Heaven And Hell’: $2,000 Level Retest Key For ETH’s Next Move He also noted that XLM’s bull flag “coincidentally targets” the 1.272 Fibonacci level at around $2.46. After its recent performance, the cryptocurrency appears to be following its 2017 pattern, which adds “more confluence to 1.272 fib target,” he explained. In Q4 2017, Stellar saw a similar price breakout, followed by a consolidation period within a bullish flag. XLM then broke out of this pattern and rose over 190% to ATH in early 2018. To the analyst, “Once we break above the top of the golden pocket, it’s game on.” At the time of writing, Stellar trades at $0.30, a 2.4% increase in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Ghana’s gold-for-oil barter scheme has been halted by the central bank, according to Bank of Ghana Governor Johnson Asiama. Stabilizing Foreign Exchange Markets The Ghanaian central bank has suspended a barter trade scheme in which it swapped gold for oil, according to a report. Johnson Asiama, the governor of the Bank of Ghana (BOG), stated
South Korea's ongoing deliberations over Bitcoin exchange-traded funds (ETFs) and the renewed movement of Bitcoin from Mt. Gox-linked wallets highlight the evolving regulatory and market dynamics within the cryptocurrency sector. While South Korean authorities are closely monitoring Japan’s stance on crypto ETFs as they weigh potential approval, the defunct exchange Mt. Gox has transferred 12,000 BTC amid a week of market volatility. South Korea Moves Closer to Decision on Bitcoin ETFs Amid Changing Global Stance on Crypto Regulation South Korea is edging closer to making a decision on the approval of Bitcoin exchange-traded funds (ETFs), with the nation’s regulators closely monitoring developments in Japan. According to a report from Maeil Business Newspaper (MK), South Korean authorities are studying Japan’s evolving stance on digital assets as they deliberate on the potential introduction of Bitcoin ETFs in the country. The Maeil Business Newspaper reports that South Korea’s financial regulator, the Financial Supervisory Service (FSS), has been analyzing Japan’s recent legislative trajectory concerning digital assets. This includes reviewing policy trends from Japan’s Financial Services Agency (FSA) and sharing insights with relevant institutions in South Korea. Japan has traditionally maintained a conservative approach toward cryptocurrency regulations. However, recent discussions suggest a potential shift, with the FSA considering positioning cryptocurrencies as financial products alongside securities. This move could pave the way for the approval of crypto ETFs in Japan, a prospect that South Korea is observing with keen interest. On Feb. 10, Japanese publication Nikkei reported that Japan's financial regulators might lift the ban on crypto ETFs, allowing them to be traded similarly to traditional financial instruments. The discussions in Japan are expected to continue through the first half of 2025 before a concrete legislative plan is proposed to the National Assembly in 2026. While South Korea has yet to make a definitive move on Bitcoin ETFs, top financial officials acknowledge the growing global trend toward these investment vehicles. At a recent virtual asset committee meeting, Kim So-young, vice chairman of South Korea’s Financial Services Commission (FSC), reiterated the country’s cautious approach. “I have continued to say that I would carefully review [spot Bitcoin ETFs], and it is similar in the broader context. There are countries that have not yet introduced it. There are England and Japan,” Kim said at a press conference following the meeting. The comments shed light on the regulatory balancing act South Korea faces. On the one hand, the country recognizes the potential benefits of regulated Bitcoin ETFs, such as providing safer investment options for retail and institutional investors. On the other hand, authorities remain wary of the risks associated with cryptocurrency market volatility and potential financial crime. The push for regulatory clarity in South Korea comes at a time of political turmoil. The country’s crypto regulatory landscape has been evolving rapidly following the dramatic arrest of former President Yoon Suk Yeol on Jan. 15. Yoon was detained after allegedly attempting to impose martial law in the country, an event that has significantly reshaped the nation’s political scene. Despite the political turbulence, South Korea’s financial regulators have maintained their focus on strengthening crypto oversight. On Feb. 13, the Financial Services Commission announced new guidelines permitting universities and charitable organizations to sell cryptocurrency donations starting in the second half of 2025. The move marks a significant step in integrating digital assets into broader financial and philanthropic ecosystems. At the same time, enforcement actions against crypto platforms have continued. On Jan. 16, Upbit, South Korea’s largest cryptocurrency exchange, was served with a suspension notice for alleged violations of Know Your Customer (KYC) regulations. In response, Upbit filed a lawsuit against South Korea’s Financial Intelligence Unit in an effort to overturn the sanctions, arguing that the regulatory action was overly restrictive. South Korea's Growing Crypto Market and ETF Potential South Korea is one of the world’s most active cryptocurrency markets, with more than 30% of its citizens reportedly investing in digital assets. The growing adoption of cryptocurrencies has fueled demand for regulated investment products like Bitcoin ETFs. If South Korea decides to approve Bitcoin ETFs, it could significantly boost institutional participation in the country’s crypto market. South Korea's interest in Bitcoin ETFs follows a broader global trend. The United States approved its first batch of spot Bitcoin ETFs in January 2024, a landmark development that attracted billions of dollars in inflows. Similarly, other countries, including Hong Kong and Canada, have already introduced regulated Bitcoin ETFs. For South Korea, approving Bitcoin ETFs would provide investors with a more structured and transparent way to gain exposure to Bitcoin while benefiting from regulatory oversight. However, authorities remain cautious, weighing potential risks such as market manipulation, fraud, and investor protection concerns. While South Korea has not yet made a final decision on Bitcoin ETFs, ongoing discussions and Japan’s evolving stance could influence the country’s regulatory direction. If Japan proceeds with lifting its crypto ETF ban, South Korea may feel added pressure to follow suit, especially given its reputation as a global financial and technology hub. As regulatory conversations continue, the South Korean government is expected to take a measured approach, ensuring that any move toward Bitcoin ETF approval aligns with its broader financial stability goals. In the meantime, investors and industry stakeholders will be watching closely for further developments that could shape the future of crypto investment in the country. With global adoption of Bitcoin ETFs on the rise, the question remains: Will South Korea take the leap, or will it continue to observe from the sidelines? Mt. Gox Moves 12,000 Bitcoin Amid Market Volatility, Stirring Speculation on Creditor Repayments In other Bitcoin news, the long-defunct cryptocurrency exchange Mt. Gox has once again made significant Bitcoin movements, transferring 12,000 BTC worth over $1 billion on March 6. The latest transfer, first flagged by blockchain analytics firm Arkham Intelligence, comes amid a turbulent week in the crypto market, raising speculation about its implications for creditors awaiting long-overdue repayments. According to Arkham Intelligence, the Mt. Gox-linked wallet (1PuQB) conducted the large transfer with a transaction fee of just $1.64. As part of the transfer, 166.5 BTC—approximately $15 million—was moved to a Mt. Gox cold wallet (1Jbez), while the remaining 11,834 BTC was directed to an unidentified wallet (1Mo1n). This transaction marks the first notable Bitcoin movement from Mt. Gox-controlled wallets in a month. The previous transaction, in early February, saw just 4 BTC shuffled between cold wallets, an insignificant sum compared to the latest move. The motivations behind this transfer remain unclear, though it adds to a growing pattern of Bitcoin activity linked to the collapsed exchange. Mt. Gox-related wallets currently hold approximately 36,080 BTC, worth around $3.26 billion, per Arkham data. Past large-scale movements from these wallets have often preceded creditor repayments, fueling speculation that further distributions could be on the horizon. This is not the first time that Mt. Gox-related wallets have seen major movements in recent months. In December, the exchange transferred approximately 1,620 BTC through unknown wallets. Just two weeks earlier, it had moved more than 24,000 BTC—one of the largest transactions associated with the exchange in years. The timing of these transactions often raises concerns in the market, as creditors continue to await their long-overdue repayments. The official Mt. Gox trustee had previously extended the repayment deadline by a full year, pushing it back to Oct. 31, 2025. While the purpose of the latest transfer remains undisclosed, past transactions of this nature have sometimes been associated with preparatory movements for creditor distributions. Bitcoin's Volatility Amid Macroeconomic Uncertainty The timing of the Mt. Gox Bitcoin movement coincides with a week of heightened volatility in the cryptocurrency market. Bitcoin has been on a rollercoaster ride, hitting a high of $94,770 on March 3 before plunging to $82,681 on March 4. Since then, it has rebounded. One key driver of this market turbulence has been geopolitical and macroeconomic factors. On March 4, new trade tariffs imposed by US President Donald Trump took effect, rattling global markets and affecting high-risk assets like Bitcoin. While digital assets are often touted as a hedge against traditional financial instability, they remain highly sensitive to broader economic trends and policy shifts. With Bitcoin transfers from Mt. Gox-linked wallets making headlines once again, creditors are watching closely for any signs of progress in the repayment process. Although the official deadline for creditor distributions remains set for late 2025, the recent movements could hint at preparatory steps being taken behind the scenes. Given the significant number of Bitcoin still under Mt. Gox’s control, further transactions in the coming months could provide additional clues about the exchange’s repayment strategy. For now, the market remains on edge, with investors keeping a close eye on blockchain movements tied to the infamous exchange. As Bitcoin continues its volatile price swings, traders and creditors alike are left wondering: is this the beginning of long-awaited repayments, or just another chapter in the Mt. Gox saga?