Bitcoin Giant Strategy Reports $12.5 Billion Q1 Loss—But Its Stock Is Up 56% in the Last Month

Bitcoin dropped below $69,000, losing over 5% in a day as the U.S. reported losing 92,000 jobs in February, pushing the unemployment rate to 4.4%, as per the Bureau of Labor Statistics.

Dubai's digital assets regulator has ordered KuCoin to cease and desist service clients in the region. VARA said that the exchage has been operating without regulatory approvals and licensing in Dubai.

Bitcoin ETFs experienced significant outflows on March 5, with a total of $227.9 million exiting the market. Despite short-term fluctuations, experts are debating whether institutions are quietly preparing for a potential price increase.

Strike has obtained a BitLicense and money transmitter license from the New York State Department of Financial Services, enabling the Bitcoin financial services firm to operate in the state. This milestone aligns with Strike's expansion plans, including offering bitcoin-backed lending and various services to individuals and businesses in New York.

Vancouver Mayor Ken Sim's plan to invest city reserves in Bitcoin violates municipal investment rules outlined in the Vancouver Charter and British Columbia's Municipal Finance Authority Act. The staff report recommends closing the motion to make Vancouver a "Bitcoin-friendly city" due to these restrictions.

Vancouver staff have recommended closing a council motion exploring the city's potential as "Bitcoin-friendly" due to legal restrictions on holding Bitcoin as a municipal reserve asset. The motion, initially proposed by Mayor Ken Sim, faced limitations under the Vancouver Charter and provincial rules.

OKX has launched Orbit, a social networking feature within its trading app, allowing users to discuss markets, share trading performance, and trade directly from posts. The feature integrates real-time discussions, trade ideas, and group formation, aiming to enhance credibility in online trading communities.

A proposed final judgment filed in federal court in New York outlines a $10 million civil penalty for Rainberry Inc., the company behind the BitTorrent protocol, to resolve the SEC's case against Justin Sun and related entities. The settlement, if approved, would dismiss remaining claims with prejudice, signaling a potential end to the 2023 case.

Chainalysis reported that Iran's use of cryptocurrency for financial activities, including supporting militia networks and procuring equipment, has increased significantly. The firm's 2026 Crypto Crime Report revealed a rise in illicit crypto activity globally, with sanctioned countries accounting for a substantial portion of crypto flows.

PEI Licensing, the company behind brands like Perry Ellis and Original Penguin, is suing Pudgy Penguins for trademark infringement, alleging unauthorized use of penguin-related trademarks. The lawsuit claims that Pudgy Penguins' actions cause damage to PEI's goodwill and business reputation.