Donald Trump Signs Executive Order For Strategic Bitcoin Reserve
US President Donald Trump has signed an executive order that creates a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile,” both of which will initially use cryptocurrency forfeited in government criminal cases. The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. The government wouldn’t buy additional cryptocurrencies for the stockpile “beyond those obtained through forfeiture proceedings,” and the Treasury Secretary “may determine strategies for responsible stewardship, including potential sales” from the stockpile.
Texas Senate Passes Bitcoin Strategic Reserve Bill
The Texas Senate passed the Bitcoin strategic reserve bill SB-21 in a 25-5 vote on March 6, following a fierce debate on the state Senate floor. The bill must still be signed by the governor to be passed into law, and if SB-21 is enacted, Texas will become the first state in the United States to have a digital asset strategic reserve. It will hold Bitcoin and other cryptos with a market capitalization of at least $500 billion.
Core Scientific Shares Drop 18% as Microsoft Cuts CoreWeave Deals
Shares of Bitcoin miner Core Scientific (CORZ) fell 18% on March 6 after reports that Microsoft reduced its commitment to CoreWeave, Core Scientific’s partner. According to the report, CoreWeave missed deadlines and had issues delivering materials needed to scale artificial intelligence models. CoreWeave’s initial public offering filing, dated March 3, says Microsoft is its largest customer, accounting for 35% of revenue in 2023 and 62% in 2024. According to the report, Microsoft still retains some of its contracts with CoreWeave, while CoreWeave denied that any contracts had been canceled.
NFT Trading Volume Has Tumbled 63% Since December
The trading volumes of non-fungible tokens (NFTs) last month were down by more than 60% from December despite building momentum in the final months of 2024, with the fall coinciding with a crypto market downturn. In December, the total trading volumes for NFTs hit $1.36 billion but fell 26% in month-on-month January, then another 50% in February, DappRadar analyst Sara Gherghelas said in a March 6 industry report.
Russian Crypto Exchange Garantex’s Website Taken Down In Apparent Law Enforcement Operation
Russian crypto exchange Garantex was seized by U.S. and European law enforcement on Thursday. The U.S. Secret Service executed the seizure under a warrant, part of a coordinated operation with agencies like the FBI and Europol. Garantex had been sanctioned by the U.S. Treasury in 2022 for its role in cybercrime and sanctions evasion. On the same day, Garantex claimed that Tether froze $28 million, which is 2.5 billion rubles, in its wallets. The exchange suspended services and vowed to fight back. Founded in 2019, Garantex gained prominence after Russia’s invasion of Ukraine, helping users bypass sanctions by converting rubles to crypto.
Canary Capital Registers SUI ETF In Delaware
Canary Capital has filed to establish a trust entity in Delaware for its proposed Canary SUI ETF, signaling an upcoming SEC submission for regulatory approval. This follows World Liberty Financial’s partnership with the Sui blockchain to add its native crypto asset, SUI, to its strategic reserve fund. SUI saw a 10% jump to $3 following the announcement but did not immediately react to the ETF news.
Uniswap Foundation Proposes $45 Mn Incentive Program
The Uniswap Foundation has proposed a $165 million initiative to boost the growth of Uniswap V4 and Unichain. If approved by UNI token holders, the funding will be allocated across three categories: $95.4 million for grants to developers, core contributors, and validators; $25.1 million for team expansion and governance tooling; and $45 million for liquidity incentives to improve adoption. Uniswap V4, launched on Jan. 29, currently has a low total value locked (TVL) of $88 million, while Unichain, an Ethereum Layer 2 network launched on Feb. 2, has only $8 million in TVL. This low adoption is partly due to strong competition from other decentralized exchanges and Layer 2 solutions. The proposal’s goals include increasing Uniswap’s market share to 60% on Ethereum Virtual Machines (EVMs) and boosting Unichain’s DEX volume and DeFi TVL market share.
Women Investors Surge 20% YoY In India
Before we dive into this interesting news, happy Women’s Day, girlies! And now on that note… Women investors in India are entering the crypto market at an accelerated pace, with their participation increasing by 20% year-on-year between January 2024 and January 2025, according to a survey by crypto exchange Giottus. Women now contribute 15% of the total trading volume, favoring long-term investments in stable assets like Bitcoin and Ethereum. This shift is driven by improved financial literacy, digital awareness, and the perception of crypto as a viable investment. Interestingly, the 36-50 age group plays a dominant role, contributing 32% of total traders. Women from tier-2 and tier-3 cities also make up a significant portion of the trading volume. Giottus expects this growing female participation to lead to a more stable, strategic, and inclusive crypto investment landscape.
ATME Launches Bahrain’s First Gold-Backed Tokens with Support from Central Bank
ATME, a Bahrain-regulated digital assets exchange platform, has launched gold-backed tokens in collaboration with the Central Bank of Bahrain, marking the first such initiative in the country. The tokens, available to accredited investors, are each backed by one kilogram of gold, providing a secure and modern way to invest in gold without the complexities of storage or transportation. The gold is held in custody until redemption or trade in ATME’s secondary market. ATME’s CEO, Alex Lola, highlighted the significance of combining gold’s value with blockchain technology to offer new investment opportunities. The platform plans to expand its offerings to include more asset classes in the future, aiming to enhance financial inclusivity and efficiency in Bahrain and the wider region.
Ondo Finance TVL Surpasses $1 Bn Becoming Largest RWA Platform
Ondo Finance has become the largest player in the tokenized real-world asset (RWA) market, with a total value locked (TVL) of $1.026 billion, representing 24% of the tokenized treasuries market, which is valued at $4.14 billion. Ondo’s growth is attributed to the launch of Ondo Nexus on Feb. 3, designed to provide instant liquidity for third-party tokenized treasury issuers. Ondo now holds over 80% of the market share by number of holders of tokenized treasuries. Additionally, Ondo’s tokens have seen significant price increases, with its OUSG token up 61% and USDY token up 51%. Ondo’s success highlights strong demand for tokenized U.S. Treasuries, achieving rapid growth in just two years.
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