AI-powered summaries of the day's top crypto events
Bitcoin's price fell below $68,000 heading into the weekend, impacted by the dollar's steepest weekly gain in a year. Other major cryptocurrencies also declined, with Solana down 4% and Ether falling 4.4%. According to Glassnode data, 43% of Bitcoin's supply is now at a loss.
A lawsuit against Binance alleging its involvement in terrorist financing was dismissed, but the judge indicated that plaintiffs could refile with more precise allegations. The court found that while Binance may have been aware of its role, the lawsuit failed to establish firm connections to specific attacks.
Prediction markets Kalshi and Polymarket are exploring fundraising at $20 billion valuations, double their previous rounds. This comes as they face regulatory and political challenges, including insider trading allegations related to geopolitical contracts.
USDC surpassed Tether as the leading stablecoin by transaction volume, reaching a record $1.8 trillion in February. USDC accounted for 70% of the total volume, surprising analysts and highlighting its growing dominance in the stablecoin market.
Coinbase has expressed concerns over the IRS's new 1099-DA tax form for digital assets, calling it cluttered and confusing. The exchange's tax experts warned that the form could lead to over-reporting and increase the burden on crypto investors.