Bitcoin (BTC) was back in the red on Monday as Sunday’s rally lost momentum after Donald Trump reaffirmed his intentions to impose tariffs on Canada and Mexico starting March 4. Both countries vowed to retaliate, sending markets into a tailspin. The flagship currency is down over 11% in the past 24 hours after dropping from a high of $94,344 to its current level of $82,800, as the hype around the crypto strategic reserve faded after criticism from industry players. Spot Bitcoin ETFs Register $74M Outflows Spot Bitcoin ETFs started the week with continued outflows, shedding just over $74 million on Monday. The development aligns with the capital retreat from the asset, with Bitcoin-focused ETFs registering just one day of inflows over the past two weeks. BlackRock’s IBIT led outflows with nearly $78 million withdrawn. Grayscale’s GBTC also registered significant outflows of over $54 million. However, Ark21Shares ARKB registered inflows of around $58 million, signaling selective investor confidence. $980M Wiped Out From Leverage Traders In 24 Hours According to data from TradingView, BTC plunged almost 9% on Monday and extended its decline to the current session, wiping out its weekend gains. President Donald Trump’s announcement about the crypto strategic reserve was turned into a short-term “buy the rumor, sell the news” event, wiping out 289,815 positions worth $978 million over the past 24 hours. Additionally, pressure and waning investor sentiment adversely impacted the crypto market, which is back to pre-Sunday levels, giving up all its gains during Monday’s collapse. According to QCP Capital, the sell-off was exacerbated by President Trump reaffirming that tariffs against Canada and Mexico would go ahead on March 4. Both countries vowed to retaliate, spooking markets further. The prospect of an escalating trade war with China also dampened market sentiment after China announced retaliatory tariffs. The surprise inclusion of Ripple (XRP), Cardano (ADA), and Solana (SOL) also divided the crypto community, with the initial euphoria quickly turning into skepticism. QCP analysts stated, “This downturn could intensify pressure on Trump, especially after the strong support and donations he received from the crypto community during his campaign. Even the SEC’s latest move — pausing and dismissing enforcement cases against crypto firms — failed to stem the sell-off, underscoring broader risk aversion in the market.” Economist Peter Schiff called for an investigation into President Trump’s Truth Social posts, claiming they helped pull off the biggest crypto rug pull of all time. Schiff stated that Trump orchestrated a "pump and dump" scheme and demanded to know who had advance notice of the posts in question. “Donald Trump, the first crypto President, just helped pull off the biggest crypto rug pull of all time. A Congressional investigation is now warranted to find out the following regarding this pump and dump scheme.” Bitcoin (BTC) Price Analysis Bitcoin (BTC) registered a significant rally over the weekend as it reclaimed $90,000 after Donald Trump announced the strategic crypto reserve. However, market sentiment changed on Monday, erasing all the weekend gains as market experts accused Trump of manipulating the market with the announcement. Market sentiment was also impacted after industry experts criticized the inclusion of ADA, XRP, and even SOL in the strategic reserve. Castle Island Ventures General Partner Nic Carter stated, “It's not the job of the government to run an ersatz crypto hedge fund. It's not their job to pick winners and losers.” Harrison Seletsky, Director of Business Development at Digital ID Platform SPACE ID said the inclusion of ETH and SOL makes sense because of their robust developer activity. However, he argued that XRP and ADA were virtually ghost chains compared to ETH and SOL. “In my eyes, it somewhat delegitimizes the whole idea of crypto reserve assets like industry mainstays bitcoin, ether, and Solana.” Two Prime Digital Assets CEO Alexander Blume called XRP, ADA, and SOL tech companies that happen to have a cryptocurrency. “They are very centrally controlled, and ownership is also highly concentrated. These products are constantly changing and adapting to the market whereas BTC is a decentralized product with no single group of owners or controllers and is more akin to gold.” BTC started the previous week on a bearish note, dropping nearly 5% on Monday to settle at $91,622. Bearish sentiment intensified on Tuesday as BTC fell below $90,000 on its way to an intraday low of $85,985. The price rebounded from this level but could not reclaim $90,000, ultimately settling at $84,129 after a drop of 3%. Sellers retained control on Wednesday as BTC plunged over 5% to an intraday low of $82,081 before settling at $84,129. Despite the overwhelming selling pressure, BTC recovered on Thursday, reaching an intraday high of $87,045 before settling at $84,457, registering a marginal increase. Source: TradingView However, selling pressure returned on Friday as BTC plunged below $80,000 and the 200-day SMA on its way to an intraday low of $78,179. However, it rebounded from this level to reclaim $80,000 and settle at $84,362, ultimately registering a marginal decline. Sentiment changed over the weekend as BTC rose just over 2% on Saturday to settle at $86,182. Bullish sentiment intensified on Sunday following Trump’s announcement regarding the crypto strategic reserve. As a result, BTC surged over 9% to reclaim $90,000 and move past the 20-day SMA to settle at $94,322. However, the rally was short-lived as the price crashed on Monday, dropping nearly 9% to $86,201. The current session sees BC down almost 4% and trading at $82,886 as sellers look to push it below $80,000. The RSI was rejected from the neutral level and currently sits at 35, indicating bears have the upper hand. The MACD is also bearish, indicating a potential downtrend for the flagship cryptocurrency. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
The global financial market, including crypto, is experiencing turmoil as the U.S. President’s aggressive tariff policies on Mexico and Canada have started a trade war. Analysts anticipate that Trump’s tariff war will cause downward pressure on the U.S. dollar, allowing cryptocurrencies to emerge. At this time, investors must consider potential crypto tokens to buy and make heavy profits. What to buy? Let’s discuss this. Crypto Token Strengths While Dollar Weakens With Trump Tariff War Renowned financial analyst Peter Schiff revealed that the Trump tariff war is not bullish for the dollar. His analysis points out the dollar’s performance against the Euro, which shows that the former is at its lowest point since December 10. At the same time, it has been the lowest against the Yen since October 9. As I’ve been saying, tariffs are not bullish for the dollar. This morning, the dollar is at its lowest level against the euro since Dec. 10th and its lowest against the yen since Oct. 9th. Not only will tariffs make goods more expensive, but a weaker dollar will add to the cost. Although this tariff implication has brought crypto market turmoil, a weaker Dollar means the opportunity for the cryptos to grow. More importantly, experts call the market dip a buying opportunity so that investors can opt to buy at a low for significant returns. 3 Crypto Tokens To Buy Amid Trump’s tariff war and the announcement of the U.S. Strategic Crypto Reserve, this is an ideal situation to buy top cryptos for the best returns. “A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration… My Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA.” As the U.S. prepares to become the global leader of the cryptocurrency sector, investors can consider buying Bitcoin, Solana, XRP, and a few other crypto tokens. 1. Bitcoin (BTC) Bitcoin is the biggest digital currency in the market and the most demanded due to its command on the global market, higher adoption, and institutional buyers like MicroStrategy, BlackRock, and others. Now, it will be the core of the U.S. crypto reserve, making it a must-buy crypto, especially as its price is down to a low of $82.8k. 2. Solana (SOL) Solana is hyped due to its fast transactions, low fees, and the popularity of the Solana meme coins. It is an ideal asset with possible Solana ETF approval and Trump putting it on the crypto reserve list . However, investors must consider volatility and other factors before buying the dip. 3. XRP (XRP) The third in the crypto tokens to buy list is the XRP, which currently trades at $2.31. It has presented impressive performance recently and is under a lot of attention due to crypto reserve, ETF hype, and cross-border payment demand. Some investors believe it will gain more government interest due to these utilities. Conclusion Donald Trump’s tariff implementation has been wreaking havoc on the financial market, and the crypto industry is no exception. With the U.S. Strategic Crypto Reserve in discussion and the U.S. dollar weakening, it is the ideal time to stock on cryptos, which are trading at a low. Once the market recovers, historical trends reveal that Bitcoin, Solana, and XRP will be among the first to recover. Their demand, price performance, and many other factors make them the best crypto tokens to buy. However, investors must consider the market’s unpredictability and research further. The post Top 3 Crypto Tokens To Buy As Trump’s Tariff War Weakens Dollar appeared first on CoinGape .
The Bank of Israel has put forward a possible design for a central bank digital currency (CBDC) should the decision be made to introduce one in the future. The central bank described the proposed digital shekel (DS) as a "multipurpose CBDC", to wit it would be for both retail and wholesale use, in a paper published on Tuesday . "The DS will be a multipurpose digital currency that will address both the retail needs of end users such as households and businesses as well as the wholesale needs of financial entities," the paper said. The Bank of Israel would therefore be providing a digital equivalent to cash while also upgrading its existing settlement system that financial institutions already use, adding "smart" functionality, such as composability and programmability. The central bank also stressed that no decision has been made whether to issue a CBDC. Therefore, the design presented by the paper should only be considered a preliminary one. The central banks of almost all the developed economies across the world have at least been exploring the possibility of issuing a CBDC for several years. While their proponents argue they are a tool for financial inclusion and a means of future-proofing fiat currencies against the decline in cash usage, they are also criticized by those who see them as a Trojan horse for reinforcing state control over the use of money.
The recently established crypto task force will be holding a roundtable discussion focusing on defining the security status of digital assets, amid shifting regulatory approaches and recent policy changes. SEC Organizes Crypto Task Force Roundtable The U.S. Securities and Exchange Commission (SEC) is set to hold a roundtable discussion under its newly established crypto task force. The event, titled “How We Got Here and How We Get Out – Defining Security Status,” will take place on March 21 at the SEC’s Washington, DC headquarters as part of the broader “Spring Sprint Toward Crypto Clarity” initiative. This marks a significant move by the SEC in addressing regulatory uncertainties in the digital asset sector. The agency has largely relied on enforcement actions rather than clear regulatory frameworks, leading to ongoing legal disputes and industry concerns. Key Participants and Format The discussion will be live-streamed, with a recorded version available later. However, attendees will also engage in closed-door breakout sessions, which will not be broadcast. These private sessions aim to facilitate more candid discussions among regulators, legal experts, and industry leaders. The SEC recently unveiled the members of its Crypto Task Force, which includes former big law firm crypto lawyer Michael Selig as chief counsel and longtime SEC staffers. Additionally, Sumeera Younis, former policy counsel to Commissioner Hester Peirce, has been appointed as the task force’s operations chief. Regulatory Developments and Industry Implications Commissioner Hester Peirce, who is leading the task force, emphasized the importance of public engagement in shaping crypto regulations, stating, “I am looking forward to drawing on the expertise of the public in developing a workable regulatory framework for crypto.” Since its formation, the task force has engaged with various industry representatives, including Crypto Council for Innovation, Zero Hash, and Paradigm Operations. High-profile figures such as Michael Saylor have also contributed to discussions. One of the task force’s key considerations is the classification of certain crypto tokens as non-securities, signaling a potential shift in the SEC’s regulatory approach. This move comes as the agency operates without a Senate-confirmed chair, contributing to an evolving stance on crypto oversight. Recent SEC Policy Shifts Under the current administration, the SEC appears to be adopting a more industry-friendly approach. This follows dismissed lawsuits against major crypto firms such as Coinbase , OpenSea, Robinhood, and Gemini. On March 3, the agency dropped its lawsuit against Kraken , adding to the list of abandoned litigation efforts initiated during the Biden administration. As regulatory discussions continue, the upcoming roundtable could play a pivotal role in shaping the future of digital asset governance in the United States. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Overturning the IRS rule could boost DeFi innovation by reducing compliance burdens, but may raise concerns about tax evasion and transparency. The post Trump’s administration backs resolution to undo IRS DeFi broker rule appeared first on Crypto Briefing .
Coinbase, the largest cryptocurrency exchange in the United States, announced that it will list PancakeSwap, Brett (Based) and ai16z altcoins in futures. *This is not investment advice. Continue Reading: JUST IN: Coinbase Announces to List 3 Altcoins in Futures
CANADA TO IMPOSE 25% TARIFFS ON ADDITIONAL C$125 BILLION OF U.S. IMPORTS IN 21 DAYS, ANNOUNCES TRUDEAU
One might think that virtually all Bitcoiners would be thrilled about the notion of the U.S. government acquiring BTC (and perhaps a basket of other cryptoassets) and effectively ratifying it as a global asset of consequence. However, I count myself among the few holdouts who don’t see the development as positive for either Bitcoin or the U.S. government itself. Here’s eight reasons why I don’t support the policy. What is easily done is easily undone If Bitcoiners want a reserve to last, they should want Trump to seek Congressional authorization for a purchase (as is customary for any large outlay). If it is done solely by executive fiat, the next administration will not feel bound by the policy and could trivially reverse it (and nuke the market in the process). If Bitcoiners sincerely believe it benefits the U.S. to acquire bitcoin and hold it for a long period of time, then they would have no issue insisting that the government pass a law authorizing spending for the Reserve, rather than having Trump enact the policy unilaterally. The fact that many Bitcoiners are hoping that Trump makes the policy without asking Congress for approval shows that they are chasing a short-term pump, rather than actually being sincere about the long-term value of the Reserve for the U.S. A future Democratic administration will have no qualms about immediately divesting the Reserve. The global reserve issuer should not disrupt itself The U.S. is the issuer of the global reserve currency. We still don’t know how the Crypto Reserve will be positioned – as simply an investment fund, or something more inherent to the dollar such as a new commodity-based currency system like the old gold standard. If the Crypto Reserve is contemplated as providing a new backing for the dollar, I believe this will cause significant unease in dollar and Treasury markets. Effectively, the government will be signaling that it believes it no longer has faith in the dollar system as it currently exists, and a radical change is needed. I imagine that this would cause already-high rates to rise, as the market starts to wonder whether the U.S. is contemplating a default on its debt. The government should be focused on shoring up investors’ faith in its ability to sustain its debt obligations by pursuing pro-growth and deficit-reducing policies, not toying with the entire structure of the dollar system. Many Bitcoiners don’t buy this line of reasoning and simply want to accelerate the collapse of the dollar. I view this as a kind of financial terrorism. I don’t believe in financial accelerationism nor do I think bitcoin – or any other cryptoasset – is ready to serve as the backing of a new commodity standard for the dollar. The U.S. already has plenty of exposure to Bitcoin American funds and individuals hold more Bitcoin than the citizens of any other country on the planet – almost certainly by a large margin. The U.S. government already benefits from this state of affairs. When Bitcoin goes up, those Americans who realize their gains owe taxes to the government – either 20% or 40% of their gains based on how long they have held the position. This is a meaningful point not to be overlooked. The U.S. already benefits when Bitcoin goes up, through tax realizations – more than any other country. In light of this, do we really need to pick a massive fight and insist that the U.S. government gain direct exposure for these assets, too? No one is pushing for the U.S. government to acquire Apple or NVIDIA stock. Why Bitcoin? There is no “strategic” value in a crypto reserve Generally, assets and commodities that the U.S. acquires at the government level are things that might be required in a pinch, and have to be accumulated ahead of time. The Petroleum Reserve is a good example, as oil is clearly an essential commodity, and in a crisis, we might not be able to acquire all the oil that we need. We also maintain reserves of other sorts of strategic assets, such as medical supplies and equipment, rare earth minerals, helium, metals like uranium and tungsten, and agricultural commodities. These all have a clear and obvious purpose: creating a reserve that can be dipped into in a time of emergency. We also stockpile foreign FX, in case we need to make interventions into currency markets, although these interventions are increasingly rare. There is no obvious strategic use for bitcoin (and certainly not Cardano or Ripple). Ordinary Americans do not need a “supply” of bitcoin or any other cryptoasset to support their quality of life. This might change if the entire financial system runs on a blockchain and we need the tokens for gas (the one analogous "industrial” use I could think of), but that’s not the state-of-play today. The only “strategic” use for bitcoin is simply going “long” the asset at the state level and selling it later, but you could accomplish this with any other financial asset. There’s nothing unique about bitcoin (or any other cryptoasset) in this regard. Of course, if you’re going to ultimately back the dollar with bitcoin in some kind of neo gold standard, then it would have a strategic use (in which case you should refer back to point #2). But I don’t think that is the intent right now. A Crypto Reserve dilutes the value proposition of Bitcoin Mixing Bitcoin in with rival cryptoassets Ethereum, Cardano, Solana, and XRP and giving them all an equal government imprimatur devalues Bitcoin and makes it look undifferentiated from these assets. Bitcoin is the only one of the bunch with a credible supply schedule and genuine decentralization at the protocol level. A crypto reserve confuses the issue and devalues Bitcoin in the public eye. Principled Bitcoiners should push for an all-or-nothing approach; either just Bitcoin, or no reserve. Bitcoin does not need the government I wonder what early libertarian Bitcoiners from 2012-16 would think of 2025 Bitcoiners pushing for the government to backstop the value of their coins. Beyond the confusing ideological evolution that the Bitcoin community has undergone, another point remains. Bitcoin has been one of the best performing investments in history, monetizing from nothing in 2009/10 to trillions of dollars in aggregate value in 2025. It has done all of this without government support, and, indeed, in many cases, despite overt hostility from powerful nation-states. A Crypto Reserve would transform bitcoin from an apolitical asset into the plaything of the government, subject to Washington’s political cycles. Bitcoiners were never ones to hitch their wagon to the government, and they shouldn’t start now. It would turn Americans against Bitcoiners Only a fraction (somewhere between 5-20%) of Americans own bitcoin, and even fewer own other cryptoassets. Many Bitcoiners are extremely wealthy due to their historical investments in the coin and others. At a time when government spending is under the microscope, using taxpayer dollars – regardless of how mechanically they are apportioned – to bolster the price of Bitcoin and other cryptoassets will be politically unpopular. Biden’s proposed student loan amnesty was met with great resistance, despite potentially applying to 43 million borrowers. Bitcoiners are a smaller bunch and even less in need of financial support from the government. This policy would undoubtedly cause an unnecessary backlash in broader society against the crypto community. It looks self-interested It’s no secret that Trump and his cabinet and inner circle have ownership in various cryptoassets. Trump himself has launched, or is affiliated with: an NFT project built on ETH, more than one memecoin built on Solana, and, of course, World Liberty Financial which holds an array of crypto assets. What we need from Trump is reasonable crypto policy, and based on his appointments at Treasury, Commerce, SEC, CFTC, OCC and others, it looks like he is delivering that. However, using government resources to directly increase the value of coins that Trump (and many in his inner circle) hold leaves a sour taste. Most of us in the crypto industry have simply been asking for reasonable policy and fair rules of the road so that we can do business in the U.S. Trump is proposing going much further than this and using taxpayer dollars to speculate on the coins themselves, potentially enriching himself and his associates. To Trump’s critics, this appears corrupt. It also makes the remainder of Trump’s pro-crypto policymaking and regulatory efforts look self-interested, rather than letting it stand on its own as good policy. A future administration could choose to throw the baby out with the bathwater, reversing all the progress the U.S. has made on crypto. The existence of the Reserve gives future regressive efforts an easy moral justification.
Aave DAO has introduced a major governance proposal aimed at enhancing the AAVE token economy. The proposal includes a structured AAVE buyback plan, redistribution of excess revenue, and upgrades to liquidity management. If approved, these changes will be implemented through a formal governance process. Aave DAO Governance Proposal and Key Objectives According to a release , Aave DAO has put forward a proposal focusing on optimizing the tokenomics of AAVE. The proposed measures include a structured AAVE buyback program, termination of the LEND token migration, and improvements to secondary liquidity management. The initiative aims to strengthen the financial structure of the protocol while ensuring sustainable growth. The proposal also introduces the Aave Finance Committee, which will be responsible for overseeing financial decisions and liquidity strategies. The committee will manage a weekly AAVE buyback program starting at $1 million, with provisions for expansion depending on financial conditions. If approved, the changes will progress through Snapshot voting before execution by the Aave Finance Committee. AAVE Buyback and Redistribution of Excess Revenue A key aspect of the proposal is the introduction of a “buy back and distribute” mechanism. Initially, Aave DAO plans to repurchase $1 million worth of AAVE each week. The buyback scale may increase based on the protocol’s financial performance. This strategy aims to enhance value for AAVE holders while improving overall liquidity. Additionally, the proposal outlines a new system for distributing excess revenue generated by the protocol. Instead of the previous model, Aave DAO suggests reallocating rewards in assets such as wETH, USDC, USDT, and AAVE. This approach is designed to ensure that stakers benefit directly from the protocol’s revenue stream. Introduction of Anti-GHO and Secondary Liquidity Upgrades The governance proposal also introduces Anti-GHO, a new non-transferable ERC20 token. Anti-GHO will be distributed to AAVE and StkBPT stakers, replacing the current GHO discount model. This adjustment is intended to create a more balanced and sustainable incentive system for users participating in the ecosystem. Moreover, the proposal outlines a plan to improve AAVE’s secondary liquidity management. The objective is to reduce the annual liquidity costs of approximately $27 million by transitioning towards a more efficient liquidity model. The new model will integrate staking mechanisms and active liquidity management to enhance stability while reducing costs. AAVE Price Jumps Following Announcement Following the release of the governance proposal, AAVE’s price experienced a notable increase. The token surged from approximately $174 to over $187, marking a rise of over 7%. As of press time, AAVE price is trading at around $186.69, reflecting a daily increase of 3.25%. AAVE/USD price chart (source: TradingView) According to the market trend, AAVE price is currently attempting to stabilize near the $180 support level. However, the AAVE price remains in a bearish trend, with resistance levels identified at $200 and $240. Despite this, technical indicators such as the Relative Strength Index (RSI) and Money Flow Index (MFI) suggest that selling pressure is easing, potentially leading to a price rebound in the short term. In the meantime, Aave DAO’S next steps involve gathering community feedback before advancing to the Snapshot voting stage. If approved, the proposal will move to an on-chain governance vote before final execution. The post Aave DAO Proposes Major AAVE Buyback Plan and Liquidity Upgrade appeared first on CoinGape .