News
An Ethereum user saved several MakerDAO positions from the brink of a $360 million liquidation cascade on Tuesday, adding collateral at the final hour as the price of ETH tumbled.
One of the positions had a liquidation price of $1,928, this was triggered alongside a market plunge during U.S. trading hours. The ETH was less than two minutes away from being liquidated and sold at a MakerDAO auction until the wallet owner deposited 2,000 ETH from Bitfinex as additional collateral. It also paid back $1.5 million worth of the DAI stablecoin.
The wallet in question took some by surprise by saving the position as they had previously been inactive since November.
That particular position is not out of the woods yet; it will be liquidated if ETH drops to $1,781 or until the owner adds more collateral. Ether is currently trading at $1,928 having bounced from Monday's low of $1,788.
Another wallet, which according to X account Lookonchain is suspected of being the Ethereum Foundation, deposited 30,098 ETH ($56.08M) to lower the liquidation price of its position to $1,127.
Whilst hundreds of millions of dollars worth of liquidations are fairly common across derivatives markets, decentralized finance (DeFi) protocols like MakerDAO use only spot assets. This means that when a liquidation takes place, DeFi liquidity is unable to cope with the skew of spot asset supply. This doesn't occur on derivative exchanges as there is typically more volume and liquidity driven by leverage.
In this case, just one of nine-figure liquidation on MarkerDAO would likely send the ETH price tumbling, liquidated the other vulnerable position in its path.
DefiLlama shows that there is $1.3 billion in liquidatable assets on Ethereum, with $352 million of that within 20% of the current price.
Wall Street asset management firm Cantor Fitzgerald has tapped Copper and Anchorage Digital as custodians for its new bitcoin (BTC) financing business, which aims to provide institutional investors with leverage on their bitcoin holdings, the firm said on Tuesday.
"We are launching with $2 billion in initial financing and expect to substantially grow the operation over time," said Michael Cunningham, Head of Bitcoin Financing at Cantor Fitzgerald, in a press release.
The Wall Street giant announced its plan to launch the business in July, saying it wanted to build a platform to support Bitcoin investors’ financing needs. Cantor Fitzgerald also manages stablecoin issuer Tether's stockpile of U.S. Treasuries that backs the value of the $142 billion USDT stablecoin.
The firm's former CEO, Howard Lutnick, currently serves as the Secretary of Commerce and has been a vocal proponent of integrating BTC into traditional finance.
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.
The CoinDesk 20 is currently trading at 2525.03, up 3.6% (+87.07) since 4 p.m. ET on Monday.
Eighteen of 20 assets are trading higher.
Leaders: APT (+7.5%) and NEAR (+6.7%).
Laggards: BCH (-2.6%) and AAVE (-2.0%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
Circle has launched on Tuesday the upgraded version of its Cross-Chain Transfer Protocol (CCTP V2), a tool that facilitates USDC transfers across blockchains. The company said that the upgrade significantly cuts down transaction times to seconds from the typical 13-19 minutes on Ethereum and its Layer 2 networks.
CCTP, introduced in 2023, is designed to move digital assets across blockchains without relying on traditional liquidity pools and third-party liquidity providers. Since its debut, the protocol has handled over $36 billion in transaction volume, according to Circle.
The upgraded version offers a Fast Transfer feature, which enables near-instant transfers between supported networks, the press release said. Standard Transfer, which operates at a blockchain’s native settlement speed, remains available.
Another new feature, called Hooks, allows developers to program automatic actions such as asset swaps or treasury management on the receiving blockchain. This reduces manual processing and enhances efficiency for decentralized finance (DeFi) applications.
The upgraded version went live on Ethereum, Avalanche and Base, with more blockchain integrations planned later this year, the firm said. Several platforms, including CCTP.Money, Interport, LI.FI, Mayan, Socket and Wormhole already integrated the protocol.
Circle is the issuer of USDC, the second largest stablecoin in the crypto market with a circulating supply of $58 billion. Pegged to the U.S. dollar, USDC is popular in crypto trading, DeFi and increasingly used as payments, remittances and real-world asset settlements among traditional finance firms.
Draconian crypto regulation that stopped U.S. citizens from benefiting from airdrops — a way of rewarding communities of users by distributing free tokens — has cost Americans as much as $2.6 billion in potential revenue and the government as much as $1.4 billion in lost tax income in the past four years, according to venture capital firm Dragonfly.
In a report published Tuesday, the digital assets-focused firm presented a range of figures, based on a sample of 11 major airdrops that generated over $7.16 billion since 2020. The list includes the likes of 1inch, EigenLayer, Arbitrum, Athena, Optimism and LayerZero. The average median claim per eligible address involved in these airdrops was found to be $4,562.
“We realized there's a real need for data that can actually show the effect of regulation by enforcement and how those policies impact individuals, the overall economy and the U.S. government,” Dragonfly associate general counsel Jessica Furr said in an interview. “So we decided to focus on airdrops as a discrete use case from crypto to see how the present policies may have created some negative externalities.”
The report estimates that between $1.84 billion and $2.64 billion in potential revenue was lost to U.S. users from 2020–2024 due to geoblocking, a technique of fencing off U.S. IP addresses so that crypto projects could avoid incurring the wrath of regulators like the Securities and Exchange Commission (SEC).
The figures may be even higher. Using a larger sample of 21 geoblocked airdrops analyzed by CoinGecko, Dragonfly found the total potential revenue lost to U.S. residents could have been between $3.49 billion and $5.02 billion from 2020–2024.
Years of regulatory uncertainty in the U.S. have had a chilling effect on crypto innovation, scaring startups off-shore, while larger companies have been served with subpoenas and become engaged in lawsuits with regulators.
As well as blockchain builders, venture capital firms such as Union Square Ventures and Andreessen Horowitz were also targeted by the SEC for investing in platforms like Uniswap, which the Dragonfly report cites as the last major airdrop not to be geoblocked in the U.S.
Dragonfly is not the only VC firm to highlight U.S. geoblocking: New York City-based Variant Fund also produced a report looking at how crypto firms are left with no choice but the blunt tool of simply excluding all Americans for fear of being targeted by regulators.
“If the rules are not clear about what projects can do, it becomes better to just geoblock to avoid getting into trouble,” Furr said. “Being pulled into an expensive litigation where you have to defend yourself can shut projects down because they can't foot that bill.”
Almost a quarter of all active crypto addresses worldwide are controlled by U.S. residents, and the number of users in America geoblocked since 2020 amounts to some 5.2 million, the report says. The figure excludes those who revert to using virtual private networks (VPNs) to beat geofencing measures.
Dragonfly also arrived at an estimated tax revenue lost due to geoblocked airdrop income between 2020 and 2024, which it pegs at between $525 million to $1.38 billion in personal and corporate taxes.
UPDATE (March 11, 16:00 UTC): Adds larger airdrop sample size data from CoinGeko in fifth paragraph.
Ethereum’s Holesky testnet finally reached finality on Monday, nearly two weeks after the Pectra upgrade went live.
Epoch 119,090 sealed the deal at around 19:00 UTC, with over two-thirds of validators validating the network. An epoch is a period of time when a specific number of blocks is completed on the blockchain.
Finality, which locks transactions irreversibly within two epochs, or about 13 minutes, had been absent since Feb. 24 due to a configuration bug in the client software, not the Pectra upgrade itself.
Restoration efforts over the past weeks enabled this recovery. Developers are now stabilizing nodes and pruning old states to fully revive the testnet for Pectra testing.
The Sepolia testnet, also running Pectra, achieved finality but later faced empty blocks from a flawed deposit contract. An attacker exploited this by sending zero-token transfers, Ethereum developers noted, an issue later resolved by client teams.
The Pectra upgrade introduces key enhancements such as gas payments in non-ETH tokens, account abstraction, and higher staking limits.
Solana’s SOL entered murky waters as Monday's broad crypto-market drop sent the token of the high-speed, low cost blockchain diving as much as 8% to $124.
That's less than the realized price of $134 for the first time since May 2022, according to Glassnode data. The realized price is the average cost basis of all coins last moved and current values mean the average holder is underwater, a bearish signal that can trigger panic selling or capitulation.
The drop comes as Solana’s validators debate a proposal known as SIMD-0228 that could slash the network’s 4.7% annual inflation rate by 80% to roughly 1.5% over time.
Unlike the market price, which fluctuates with exchange trades, realized price is a cost-basis anchor.
The price action forms a descending channel, with resistance between $134, formerly a support level, and $130, and support at $120 and $115. The trend remains bearish, but if $120 holds and $128 breaks with volume, a rebound to $134 is possible, driven by dip buyers.
The recent crypto market downturn has caused the once-popular $120,000 bitcoin (BTC) options bet to lose its crown to the $100,000 bet in a sign that traders are reassessing their bullish expectations.
At press time, the $100,000 call was the most popular BTC options contract on the exchange, boasting a notional open interest of $1.55 billion. The notional open interest represents the dollar value of the number of active option contracts at a given time.
Meanwhile, the $120,000 call, the former leader up until last month, stood at the number two position, with a notional open interest of $1.33 billion.
A call gives the purchaser the right but not the obligation to purchase the underlying asset at a predetermined price at a later date. A call buyer is implicitly bullish on the market. Hence, a significant built-up of open interest in higher strike out-of-the-money calls, such as $100,000 and $120,000, reflects bullish expectations.
The shift lower in the most preferred call to the $100,000 strike likely shows traders opting for a more conservative bet in the wake of the recent price crash to under $80,000. Additionally, it may signal a broader reassessment of bullish sentiment.
The 25-delta risk reversals, which measure the difference between implied volatility (demand) for higher strike calls relative to lower strike puts, show negative readings or bias for protective put options out to the May end expiry. It's representative of fears of an extended price slide in the market.
The pricing remains bullish in favor of call options after May. Besides, the dollar value of the total number of calls open at press time was over $16 billion – nearly twice more than $8.35 billion in put options.
VanEck has registered an Avalanche exchange-traded fund (ETF) in the U.S. state of Delaware as investment manager continue to apply for various altcoin-based product despite the clawback in the crypto market.
The New York-headquartered company registered the "VanEck Avalanche ETF" on March 10, according to a filing on Delaware's Department of State website.
The registration comes amid an ongoing sell-off in the crypto market, which has seen Avalanche's native token (AVAX) fall to a one-year low of $16.27.
Avalanche becomes the fourth crypto asset VanEck has registered an ETF for, following its filing for a spot Solana fund last June. VanEck was among the first issuers of bitcoin (BTC) and ether(ETH) ETFs after they were approved in January and July respectively.
Issuers are seemingly branching out across the altcoin market to develop new ETFs. Investment managers Rex Shares and Osprey Fund filed to list a MOVE fund on Monday.
By Omkar Godbole (All times ET unless indicated otherwise)
The crypto market is looking to regain poise, with bitcoin bouncing above $81,000 ahead of tomorrow's U.S. inflation report. Broadly speaking, the recovery from overnight lows is led by layer-1 and layer-2 coins, with gaming tokens also rising.
The rebound comes amid indications of "peak fear" on Wall Street, a dynamic typically observed at market bottoms.
Interestingly, the spread between one- and six-month futures tied to the VIX, Wall Street’s so-called fear gauge, crossed above zero on Monday, signaling a rare positive reading and reflecting expectations for greater volatility in the short-term than six months out. Volmex's Bitcoin volatility index shows a similar inversion, although that is more common in the crypto market.
"Is the worst behind us? It’s impossible to say," noted Ilan Solot, senior global market strategist at Marex Solutions, in an email to CoinDesk. "However, the risk-reward for entering long positions in U.S. stocks is improving. The VIX index for volatility is now significantly inverted, meaning near-term contracts are priced higher than long-term ones. This is an important sign of stress, but it can also indicate extremes in sentiment."
Meanwhile, bullish positioning in the yen appears stretched, suggesting the haven currency's rally may soon lose steam, potentially providing relief to risk assets in the process.
The Truflation U.S. Inflation Index, which offers a daily, real-time measurement of inflation based on data from over 30 sources and 13 million price points, has dropped to 1.35%, extending a decline from February's high of over 2%. This trend hints at the progress on inflation the Federal Reserve is looking for before considering rate cuts.
On Wednesday, the Bureau of Labor Statistics is expected to show a month-over-month increase of 0.3% for February. This would be a notable deceleration from January's concerning 0.5%. A soft reading could validate traders' expectations for rapid rate cuts starting in June, possibly leading to renewed risk-on sentiment. However, it’s important to note that Chairman Jerome Powell has indicated the Fed is waiting for clarity on President Trump’s policies before making its next move, suggesting that soft CPI data alone might not be enough.
On the other hand, a hotter-than-expected CPI print could derail recovery prospects, potentially setting the stage for a deeper slide in bitcoin and the broader crypto market. Some analysts even predict bitcoin could drop to $74,000.
"A bearish pattern persists on the daily timeframes, indicating a strengthening sell-off after failing to hold above the 200-day moving average. The scenario of a pullback to the $70,000 to $74,000 range still looks most probable," said Alex Kuptsikevich, senior market analyst at FxPro, in an email to CoinDesk. Stay alert!
What to Watch
Crypto:
March 11, 9:00 a.m.: Horizen (ZEN) mainnet network upgrade to version ZEN 5.0.6 at block height 1,730,680.
March 11, 10:00 a.m.: U.S. House Financial Services Committee hearing about a federal framework for stablecoins and a CBDC. Livestream link.
March 11: The Bitcoin Policy Institute and Senator Cynthia Lummis co-host the invitation-only one-day "Bitcoin for America" event in Washington.
March 12: Hemi (HEMI), an L2 blockchain that operates on both Bitcoin and Ethereum, has its mainnet launch.
March 15: Athene Network (ATH) mainnet launch.
March 15: Reploy will close its V1 RAI staking program to new users as it transitions to a fully automated revenue-sharing protocol.
March 17.: CME Group launches solana (SOL) futures.
March 18: Zano (ZANO) hard fork network upgrade which activates “ETH Signature support for off-chain signing and asset operations.”
March 20: Pascal hard fork network upgrade goes live on the BNB Smart Chain (BSC) mainnet.
Macro
March 11, 8:00 a.m.: The Brazilian Institute of Geography and Statistics (IBGE) releases January industrial production data.
Industrial Production MoM Est. 0.4% vs. Prev. -0.3%
Industrial Production YoY Est. 2.2% vs. Prev. 1.6%
March 11, 10:00 a.m.: The U.S. Department of Labor releases January’s JOLTs report (job openings, hires, and separations).
Job Openings Est. 7.75M vs. Prev. 7.6M
Job Quits Prev. 3.197M
March 12, 4:45 a.m.: European Central Bank President Christine Lagarde gives a speech at the 25th “ECB and Its Watchers” conference in Frankfurt.
March 12, 8:00 a.m.: The Brazilian Institute of Geography and Statistics (IBGE) release February consumer price inflation data.
Inflation Rate MoM Est. 1.3% vs. Prev. 0.16%
Inflation Rate YoY Est. 5% vs. Prev. 4.56%
March 12, 8:30 a.m.: The U.S. Bureau of Labor Statistics (BLS) releases February consumer price inflation data.
Core Inflation Rate MoM Est. 0.3% vs. Prev. 0.4%
Core Inflation Rate YoY Est. 3.2% vs. Prev. 3.3%
Inflation Rate MoM Est. 0.3% vs. Prev. 0.5%
Inflation Rate YoY Est. 2.9% vs. Prev. 3%
March 12, 9:45 a.m.: The Bank of Canada announces its interest rate decision followed by a press conference (livestream link) 45 minutes later.
Policy Interest Rate Est. 2.75% vs. Prev. 3%
March 12, 12:00 p.m.: Russia's Federal State Statistics Service release February consumer price inflation data.
Inflation Rate MoM Est. 0.8% vs. Prev. 1.2%
Inflation Rate YoY Est. 10.1% vs. Prev. 9.9%
Earnings (Estimates based on FactSet data)
March 17 (TBC): Bit Digital (BTBT), $-0.05
March 18 (TBC): TeraWulf (WULF), $-0.04
March 24 (TBC): Galaxy Digital Holdings (TSE: GLXY), C$0.39
Token Events
Governance votes & calls
GMX DAO is voting on the decentralization and automation of the fee distribution process for the GMX ecosystem to ensure “real-time, trustless, and verifiable fee allocations.”
Frax DAO is discussing upgrading the protocol by renaming FXS to FRAX, making it the gas token on Fraxtal, implementing the Frax North Star hard fork, and introducing a tail emission plan with gradually decreasing emissions and other enhancements.
Uniswap DAO is discussing continuing treasury delegation to maintain governance stability and retain active delegates, including a renewed framework and structure expiration and allocation mechanisms.
March 13, 10 a.m.: Mantra to host a Community Connect call with its CEO and Co-Founder to discuss various major updates.
Unlocks
March 12: Aptos (APT) to unlock 1.93% of circulating supply worth $63.33 million.
March 15: Sei (SEI) to unlock 1.19% of its circulating supply worth $10.65 million.
March 16: Arbitrum (ARB) to unlock 2.1% of its circulating supply worth $30.76 million.
March 18: Fasttoken (FTN) to unlock 4.66% of its circulating supply worth $80 million.
March 21: Immutable (IMX) to unlock 1.39% of circulating supply worth $12.29 million.
Token Listings
March 11: Bybit to delist Bancor (BNT), Paxos Gold (PAXG), and Threshold.
March 11: Cookie DAO (COOKIE) to be listed on Coinbase.
March 11: PancakeSwap is retiring its crypto options product.
March 11: Mystery (MERY) was listed on the Crypto.com app.
March 31: Binance to delist USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC, and PAXG.
Conferences
CoinDesk's Consensus is taking place in Toronto on May 14-16. Use code DAYBOOK and save 15% on passes.
Day 2 of 2: MoneyLIVE Summit (London)
Day 2 of 3: AIBC Africa (Cape Town)
Day 1 of 2: VanEck Southern California Blockchain Conference 2025 (Los Angeles)
March 13-14: Web3 Amsterdam ‘25
March 16, 6:00 p.m.: Solana AI Summit (San Jose, Calif.)
March 18-20: Digital Asset Summit 2025 (New York)
March 18-20: Fintech Americas Miami 2025
March 19-20: Next Block Expo (Warsaw)
March 24-26: Merge Buenos Aires
March 25-26: PAY360 2025 (London)
March 25-27: Mining Disrupt (Fort Lauderdale, Fla.)
March 26: Crypto Assets Conference (Frankfurt)
March 26: DC Blockchain Summit 2025 (Washington)
March 26-28: Real World Crypto Symposium 2025 (Sofia, Bulgaria)
March 27: Building Blocks (Tel Aviv)
March 27: Digital Euro Conference 2025 (Frankfurt)
March 27: WIKI Finance EXPO Hong Kong 2025
March 27-28: Money Motion 2025 (Zagreb, Croatia)
March 28: Solana APEX (Cape Town)
Token Talk
By Shaurya Malwa
Grok Coin, a token inspired by, but not officially affiliated with, xAI’s Grok AI, was launched on Base using trading mechanisms from Bankr and Clanker.
The token’s AI-controlled wallet reportedly amassed over $200K in fees in the hours after going live.
It was further amplified by the official Base account on X, which posted, “icymi, @grok launched a token on Base,” and framing it as a futuristic step where “AI is owning wallets, making markets, and generating revenue.” This gave the impression of an endorsement from Base’s leadership.
The post prompted Base developers like Kawz, the founder of Time.fun, to express frustration over the lack of recognition for their own projects.
Calling the GrokCoin post unfair and selective, Kawz noted they'd spent months building an app on Base without a single tweet from @base.
Derivatives Positioning
ETH CME futures basis has dropped to an annualized 5%, the lowest since July.
BTC's basis has stabilized between 5% and 10% in a positive sign for the market.
BTC options show a similar expectation pattern to gold, while ETH and other cryptocurrencies are similar to the expectation patterns of equities investors, data tracked by BloFin Academy show.
BTC and ETH risk reversals show bias for protective puts out to the May end expiry.
The $100K strike call is now the most popular BTC option on Deribit, as opposed to the $120K call a few weeks ago.
Market Movements:
BTC is up 2.87% from 4 p.m. ET Monday at $81,425.03 (24hrs: -0.93%)
ETH is up 2.84% at $1,917.00 (24hrs: -8.65%)
CoinDesk 20 is up 3.05% at 2,531.70 (24hrs: -3.66%)
Ether CESR Composite Staking Rate is up 10 bps at 3.11%
BTC funding rate is at 0.0001% (0.1% annualized) on Binance
DXY is down 0.38% at 103.44
Gold is up 0.66% at $2,911.70/oz
Silver is up 1.12% at $32.49/oz
Nikkei 225 closed -0.64% at 36,793.11
Hang Seng closed unchanged at 23,782.14
FTSE is down 0.25% at 8,578.37
Euro Stoxx 50 is up 0.48% at 5,413.02
DJIA closed on Monday -2.08% at 41,911.71
S&P 500 closed -2.7% at 5,614.56
Nasdaq closed -4% at 17,468.32
S&P/TSX Composite Index closed -1.53% at 24,380.71
S&P 40 Latin America closed -2.73% at 2,297.38
U.S. 10-year Treasury rate is down 4 bps at 4.21%
E-mini S&P 500 futures are down 0.28% at 5636.50
E-mini Nasdaq-100 futures are down 0.41% at 19533.25
E-mini Dow Jones Industrial Average Index futures are down 0.21% at 42,036.00
Bitcoin Stats:
BTC Dominance: 61.95 (-0.24%)
Ethereum to bitcoin ratio: 0.02354 (-0.80%)
Hashrate (seven-day moving average): 814 EH/s
Hashprice (spot): $45.2
Total Fees: 5.3 BTC / $429,994
CME Futures Open Interest: 141,395 BTC
BTC priced in gold: 28.2 oz
BTC vs gold market cap: 8.01%
Technical Analysis
Bitcoin's RSI has carved out a higher low, hinting at a bullish divergence, or positive shift in momentum.
Traders who rely on charts may feel tempted to try out longs as prices are close to the key support of the March 2024 high of $73,757, offering an attractive risk-reward.
That, in turn, might see the recovery gather pace.
Crypto Equities
Strategy (MSTR): closed on Monday at $239.27 (-16.68%), up 4.57% at $250.20 in pre-market
Coinbase Global (COIN): closed at $179.23 (-17.58%), up 4.09% at $186.55
Galaxy Digital Holdings (GLXY): closed at C$17.46 (-7.32%)
MARA Holdings (MARA): closed at $13.41 (-16.29%), up 1.34% at $13.59
Riot Platforms (RIOT): closed at $7.56 (-9.68%), up 2.51% at $7.75
Core Scientific (CORZ): closed at $8.01 (+2.96%), up 3.62% at $8.30
CleanSpark (CLSK): closed at $7.98 (-9.63%), up 1.5% at $8.10
CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $14.48 (-11.27%), up 3.04% at $14.92
Semler Scientific (SMLR): closed at $32.74 (-11.97%), unchanged in pre-market
Exodus Movement (EXOD): closed at $24.60 (-16.33%), down 5.65% at $23.21
ETF Flows
Spot BTC ETFs:
Daily net flow: -$278.4 million
Cumulative net flows: $35.93 billion
Total BTC holdings ~ 1,122 million.
Spot ETH ETFs
Daily net flow: -$34 million
Cumulative net flows: $2.69 billion
Total ETH holdings ~ 3.579 million.
Source: Farside Investors
Overnight Flows
Chart of the Day
The chart shows the spread between yields on the 10-year U.S. and Japanese government bonds.
The gap has narrowed sharply, diving below a five-year-long uptrend line.
The narrowing of the yield spread favors strength in the yen, seen as an anti-risk, haven currency.
While You Were Sleeping
Global Markets Steady After Slowdown Fears Hit Wall Street (Financial Times): Stocks steadied globally as investors reassessed recession concerns following sharp Wall Street losses, while European defense and infrastructure shares continued to gain on expectations of increased government spending.
Bitcoin and Nasdaq Could Stabilize as Bull Positioning in Yen Appears Stretched (CoinDesk): Overstretched bullish bets on the yen could trigger a reversal, offering relief to risk assets, though the currency’s broader uptrend remains supported by a narrowing U.S.-Japan bond yield gap.
Latest Draft of U.S. Stablecoin Bill Aims to Split Power Between State and Federal Authorities (CoinDesk): States can oversee stablecoin issuers with a market cap under $10 billion, while larger issuers may remain under state supervision if they meet certain criteria.
Dormant Ether Whale Moves $13M in ETH to Kraken (CoinDesk): A wallet that has held ether since the cryptocurrency’s inception moved 7,000 ETH to Kraken after five months of inactivity as the price hit its lowest level since October 2023.
Citi Downgrades U.S. Stocks, Raises China as America First Fades (Bloomberg): Citigroup downgraded U.S. equities to neutral, citing expectations for "more negative US data prints," while upgrading China to overweight due to attractive valuations and government support for the tech sector.
Ukraine Hits Moscow With Largest Drone Attack Hours Before Talks (The Wall Street Journal): Ahead of a high-level U.S.-Ukraine meeting in Saudi Arabia, Kyiv carried out its largest drone strike on the Russian capital, escalating tensions as discussions on potential peace efforts loom.
In the Ether
