By Shikha Singh
By Shikha SinghUtah’s Senate Passes Bitcoin Bill But Scraps Key Provision
Utah’s Bitcoin bill has passed the state Senate, but without its cornerstone, a clause that would have made it the first US state with its own Bitcoin reserve. The HB230 “Blockchain and Digital Innovation Amendments” bill now only provides Utah citizens with basic custody protections, the right to mine Bitcoin, run a node, and participate in staking, among other things. The reserve clause would have authorized Utah’s treasurer to invest up to 5% of digital assets with a market cap above $500 billion over the last calendar year in five state accounts — with Bitcoin as the only digital asset that currently meets this criteria.
Spanish Bank BBVA Gets Regulatory Nod To Offer Bitcoin And Ether Trading
BBVA announced on March 10 that it had received the nod from Spain’s securities regulator, CNMV, to offer Bitcoin and Ether trading services to its customers. Spain’s second-largest bank’s crypto offerings in Spain will enable users to buy, sell, and manage digital assets through its mobile app. The lender said it will use its own cryptographic key custody platform to maintain full control over customer holdings without third-party involvement. Initially, the rollout will be limited to a select group of users before gradually expanding to all private customers across the Iberian nation in the coming months.
China Rolls Out Manus AI, Hot on DeepSeek’s Heels
China continues to stun the world with huge advancements in the Tech space. Just a few days ago, a striking new Chinese artificial intelligence (AI) model named Manus burst onto the tech scene, hot on the heels of fellow Chinese AI startup DeepSeek’s recent global splash. Chinese AI startup Monica, formed by a team of ex-Google and Tencent talents, led by Xiao Hong, launched Manus on March 6. Hong claims Manus is more than just a chatbot AI. Manus is currently an invite-only preview, with server hiccups and reported bugs like incomplete tasks tempering early feedback. No official public release date has been set.
El Salvador Continues Accumulating Bitcoin & Now Holds 6,111 BTC Despite IMF Pressure
El Salvador continues to acquire Bitcoin despite its deal with the International Monetary Fund to curb its Bitcoin acquisition. The Central American nation purchased an additional 6 on Sunday, expanding its total Bitcoin holdings to 6,111 BTC, worth about $504 million at current market prices, compared to 6,072 BTC on Feb. 9, according to the country’s Bitcoin Office. In December, El Salvador reached a deal with the IMF for a $1.4 billion loan, with the total package expected to be over $3.5 billion, and agreed to scale back its Bitcoin engagement in exchange for the financing. El Salvador’s strategic reserve, however, continued to accumulate Bitcoin. El Salvador President Nayib Bukele said last week that the country will not stop purchasing Bitcoin.
South Korea Considers Bitcoin For National Reserve And Stablecoin Development
According to Foresight News, financial experts and opposition party members in South Korea have suggested adding Bitcoin to the national reserve and creating a stablecoin backed by the Korean won. The proposal emerged during a seminar focused on exploring strategies in response to the U.S.’s Bitcoin-centered national reserve initiatives. Kim Jong-seung, CEO of blockchain firm xCrypton, highlighted the importance of South Korea establishing clear policies in response, prior to the announcement of U.S. President Donald Trump’s executive order.
Unichain, Berachain Lead Blockchain Growth In Past Month
Uniswap’s newly launched Ethereum layer-2 network, Unichain, became the fastest-growing blockchain in its debut month, with 236,452 active addresses, according to Nansen. While it remains small compared to networks like Solana, which has 112 million users, Unichain has made a significant impact in decentralized exchange (DEX) volume, reaching $217.7 billion, ranking third in the industry and surpassing Ethereum’s base layer. Unichain’s rise has helped Uniswap reclaim its position as the top DEX by total value locked (TVL), despite facing competition from networks like Solana and BNB Chain. The launch of Unichain provides lower fees and faster transactions, and its successful debut contrasts with a decline in Solana’s metrics, where active addresses, transactions, and DEX volume have dropped.
Apex Fintech Reportedly Weighs Acquisition Of Crypto Firm Bakkt
Apex Fintech is reportedly considering acquiring Bakkt, a cryptocurrency platform originally launched by Intercontinental Exchange (ICE). This comes two years after Bakkt acquired Apex’s crypto operations for up to $200 million in 2022. Bakkt, founded in 2018, aimed to integrate digital assets into traditional finance and had backing from major companies like Microsoft and Starbucks. However, despite regulatory approvals and initial success, Bakkt struggled with its consumer-facing app and was forced to shift its focus to institutional custody and B2B2C models. Recent regulatory challenges, including SEC actions in 2023, have affected Bakkt’s operations, leading to a $45 million loss in Q1 2023. The potential Apex acquisition could help stabilize Bakkt by adding millions of crypto-enabled accounts and clients, though market and regulatory hurdles continue to pose challenges.
Pi Network Users Face Migration Issues as Deadline Approaches
Pi Network users, known as Pioneers, are facing frustration and technical issues as they try to migrate their Pi Coins to the blockchain’s Mainnet before the March 14, 2025 deadline. Users report being stuck in the migration process despite completing required steps, with many unable to transfer their tokens. The Pi Network has warned that failing to meet the deadline will result in the loss of most Pi holdings. Additionally, the token’s price has dropped significantly, raising concerns about its future value. Meanwhile, Pi Coin supporters are pushing for a Binance listing, but despite overwhelming community support, Binance has not made any official announcements.
Arkham’s New Tool Exposes Crypto Influencers’ Wallets
Arkham Intelligence has launched a tool called the Key Opinion Leader (KOL) Label to track the wallets of crypto influencers with over 100,000 followers on X. This tool aims to increase transparency by revealing whether influencers genuinely support the tokens they promote or are involved in deceptive practices like pump-and-dump schemes. While supporters view it as a step towards transparency, critics argue it could be misleading, as influencers might use multiple wallets to evade detection. Many influencer-backed tokens have underperformed, leading to concerns about unethical promotions. The tool could hold influencers more accountable, but its effectiveness in ensuring transparency remains uncertain.
1inch Recovers Stolen Funds After Hacker Negotiation
1inch recently recovered most of the $5 million stolen in a security breach, thanks to negotiations with the hacker, who returned most of the funds in exchange for a bug bounty. The breach occurred due to a flaw in 1inch’s outdated Fusion v1 resolver smart contract, targeting a third-party market maker. While 1inch users were not directly affected, the incident highlights security risks in decentralized finance (DeFi). This marks the second major security breach for 1inch in six months, underscoring the need for continuous audits and robust security measures. 1inch has since urged users to upgrade to the more secure Fusion v2.
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