FTX Recovery Trust to Distribute $2.2 Billion to Creditors on March 31

Bank of America's CEO predicts that interest-bearing stablecoins could divert $6 trillion from bank deposits, potentially impacting small-to-medium-sized businesses. The proposed Senate Banking draft would restrict stablecoins from earning interest, affecting lending capacity in the traditional banking system.

Solana's ETFs experienced a significant inflow of $23.57 million, the highest in four weeks, indicating potential momentum to break its subdued trend. Despite some hesitation in the market, Solana's fundamentals show strength with growing companies and increased activity on platforms like Pump.fun.

SG-FORGE, the cryptocurrency arm of Societe Generale, collaborated with Swift to settle tokenized bonds using their MiCA-compliant stablecoin. This transaction showcased key market operations like settlement, coupon payments, and redemption, demonstrating the potential for faster settlements through existing payment infrastructures.

Project Eleven, a startup led by a former U.S. Special Forces officer, secured a $20 million Series A funding round with Castle Island Ventures and Coinbase Ventures. The company focuses on helping blockchains transition to quantum-resistant environments due to potential threats from advancements in quantum computing.

Bitwise's CIO draws parallels between Bitcoin ETFs and gold's historical surge, suggesting a potential parabolic move for the cryptocurrency. The pattern of sustained buying absorbing selling pressure has been observed before, indicating a potential price explosion for Bitcoin.

The Senate Banking Committee has postponed the markup of the bipartisan crypto market structure bill, adding to earlier delays by the Agriculture Committee. The bill, known as the CLARITY Act, aims to establish regulatory jurisdiction for crypto between the SEC and the CFTC.

Manhattan District Attorney Alvin Bragg emphasized the need to criminalize unlicensed crypto operations due to a thriving $51 billion criminal economy exploiting regulatory loopholes for money laundering.

TD Cowen lowered its price target on Michael Saylor’s Strategy (Nasdaq: MSTR) to $440 from $500 due to near-term pressure on key performance metrics from accelerated Bitcoin purchases. Despite this, Strategy remains attractive for creating Bitcoin exposure.

Coinbase, a major player in the crypto industry, has withdrawn its support for the market structure bill just before a crucial Senate vote. The bill's restrictions on stablecoin yield offerings have sparked conflict between crypto companies and the banking lobby.

Figure, a fintech firm led by SoFi founder Mike Cagney, has launched the On-Chain Public Equity Network (OPEN) for issuing equity directly on the blockchain. This system integrates with Figure's Alternative Trading System (ATS) and allows for trading and borrowing against holdings using DeFi rails.