Hi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
Pyth Network (PYTH) announced on the 6th (local time) through its official X (formerly Twitter) that it has formed a partnership with Coinbase. According to the announcement, Pyth Network's Lazer technology will be applied to Coinbase International, which will improve the speed and accuracy of exchange price data.
The three major U.S. stock market indices are showing a downward trend. As of 00:01 on the 7th, the Nasdaq Composite Index is trading at 18,227.81 points, down 1.75% from the previous day. The Dow Jones Index is down 1.24% at 42,474.17 points, and the S&P 500 Index is recording 5,754.28 points, down 0.22%.
The three major U.S. stock market indices closed with an upward trend. The Nasdaq Composite Index recorded 18,552.73 points on the 7th, up 1.46% from the previous day. The Dow Jones Index closed at 43,006.19 points, up 1.14%, and the S&P 500 Index finished trading at 5,841.63 points, up 1.10%.
According to cryptocurrency media BeInCrypto on the 5th (local time), Binance's net inflows significantly increased following the Bybit hack. Data shows that Binance recorded $3.9 billion in weekly net inflows after the Bybit hacking incident. This is higher than most months last year. In Bybit's case, after the hack, it fell from being the 2nd largest exchange by 24-hour trading volume to 11th place.
Recently, the Wall Street Journal (WSJ) analyzed the contrasting styles of the two companies' CEOs and corporate directions, stating that "Tether (USDT) and Circle, the issuer of USD Coin (USDC), are competing to gain an advantage in promoting regulation of the U.S. stablecoin industry." The media reported, "While Tether Chairman Giancarlo Devasini lives quietly in Lugano, Switzerland, Circle co-founder Jeremy Allaire prefers to mingle with politicians and Wall Street executives," adding, "Also, Tether embraces the free-spirited nature of cryptocurrencies, while Circle follows mainstream acceptance through regulation." The outlet continued, "The outcome of the competition between these two companies will shape the future of stablecoins," explaining, "If regulators succeed in ousting Tether, Circle's USDC market share would expand and could bring stablecoins into the existing financial system." Furthermore, "If Tether survives, it would strengthen the ability to operate cryptocurrencies outside centralized influence, just as it has shown resilience by overcoming past concerns about commercial paper," adding, "Either way, the risks will be significant as they compete in an industry worth trillions of dollars."
According to cryptocurrency specialized media Cointelegraph on the 5th (local time), Turkish law firm GlobalB has filed an administrative lawsuit against the government's ban on cryptocurrency payments. Turkish citizens can buy, hold, and sell cryptocurrencies, but they cannot use them for payments. GlobalB explained that they plan to employ a strategy in court that emphasizes the economic effects of allowing cryptocurrency payments.
Alesia Haas, Coinbase's Chief Financial Officer (CFO), revealed that they are "restarting the long-cherished project of launching tokenized securities in the US market." According to cryptocurrency media The Block on the 5th (local time), she stated, "We believe US regulators are moving forward, exploring product innovation," adding, "In the past, in 2020, we attempted to list security tokens but hit a wall." She continued, "Now it seems we can restart conversations with the Securities and Exchange Commission (SEC) task force," explaining that "we will be able to launch security tokens." Citing industry sources, the media added, "In the past, Coinbase reportedly attempted to issue tokenized COIN as part of the S-1 (securities registration) process, but was unable to reach an agreement with the SEC at that time."
On the 5th (local time), the Federal Reserve (Fed) reported through the Beige Book, which details economic conditions across its 12 districts, that overall economic activity had slightly increased since mid-January. The report explained that more optimistic expectations for economic activity have formed for the coming months. Furthermore, it reported that prices rose slightly in most regions, with some regions experiencing accelerated price increases compared to the previous reporting period. Most regional representatives anticipated additional price increases due to tariff measures. According to some individual reports, some businesses have preemptively raised prices in response to tariffs. Meanwhile, many regions pointed out that rising prices of eggs and other food ingredients are affecting food processors and restaurants.
Nick Tomaino, founder of cryptocurrency venture capital firm 1Confirmation, stated on the 5th (local time) via X (formerly Twitter) that he "plans to continue focusing on Ethereum (ETH)" because "Bitcoin (BTC) and Ethereum are the only ecosystems in the world that have sufficiently decentralized ownership and are neutral enough to be trustworthy." He emphasized, "What investors wonder is whether Ethereum is similar to Bitcoin, or more similar to altcoins like XRP, ADA, Solana (SOL)," adding, "We will continue to focus on Ethereum." Previously, he had stated that "ETH is money when considering scarcity, durability, divisibility, fungibility, portability, recognizability, and programmability."
Bitcoin (BTC) has temporarily recovered to the $90,000 level. Meanwhile, as of 02:31 on the 6th, BTC is trading at $90,085.50 on the Binance Tether (USDT) market, up 6.48% from the previous day.
US investment bank TD Cowen assessed in an investment memo that "Donald Trump's failure to mention crypto assets (cryptocurrency) in his congressional address on the 5th suggests that this is outside his priorities." According to The Block, a crypto asset specialized media outlet, on the 5th (local time), TD Cowen said, "If Trump considered crypto assets important, he would have certainly mentioned them in this congressional address," adding, "Especially since he announced a strategic stockpile plan for crypto assets through his social media right before the congressional address." They continued, "From a political perspective, he may have considered that mentioning crypto assets in Congress could provoke antipathy from Democrats," analyzing that "this is because Republicans currently need Democratic support to pass the stablecoin bill." Furthermore, they added, "Of course, rather than these political reasons, the bigger reason is likely that Trump does not view crypto assets as a core agenda item."
According to CryptoBriefing, a specialized virtual asset (cryptocurrency) media outlet, on the 5th (local time), Vietnam's Deputy Minister of Finance Nguyen Duc Chi announced plans to allow pilot operations of virtual asset exchanges. Regarding this, the media reported, "The Vietnamese government ordered the Ministry of Finance and the central bank to prepare a draft regulation for virtual assets on the 3rd (local time)," adding that "the draft is expected to be submitted by the end of this month."
According to The Block, a digital asset (cryptocurrency) specialized media, on the 5th (local time), former US Treasury Secretary Steven Mnuchin stated that "personally, I have no intention to invest in digital assets." Previously, he was skeptical about digital assets during his tenure, but has made favorable comments about Bitcoin (BTC) since 2021.
Bitcoin (BTC) has temporarily given up the $88,000 level. Meanwhile, as of 00:30 on the 6th, BTC is trading at $87,990.01 on the Binance Tether (USDT) market, up 6.88% from the previous day.
Bitcoin (BTC) has temporarily recovered to the $89,000 level. Meanwhile, as of 00:08 on the 6th, BTC is trading at $89,074.07 on the Binance Tether (USDT) market, up 7.73% compared to the previous day.
The three major U.S. stock market indices are showing an upward trend. As of 00:03 on the 6th, the Nasdaq Composite Index is trading at 18,289.53 points, up 0.02% from the previous day. The Dow Jones Index is up 0.32% at 42,658.01 points, and the S&P 500 Index is up 0.22% at 5,790.83 points.
The three major U.S. stock market indices closed lower. The Nasdaq Composite Index fell 0.35% from the previous day to 18,285.16 points on the 5th. The Dow Jones Index closed down 1.55% at 42,521.66 points, and the S&P 500 Index finished trading down 1.26% at 5,776.10 points.
According to the cryptocurrency specialized media WatcherGuru X (formerly Twitter) account on the 4th (local time), El Salvador President Nayib Bukele stated that "he will not stop buying Bitcoin (BTC)." According to Bitcoin Office monitoring, the El Salvador government currently holds 6101.18 BTC. Meanwhile, as of 05:55 on the 5th, BTC is trading at $87,501.14, up 2.14% from the previous day, based on the Binance Tether (USDT) market.
According to cryptocurrency media Coindesk on the 4th (local time), the U.S. Securities and Exchange Commission (SEC) has agreed to withdraw its enforcement action against cryptocurrency market-making firm Cumberland DRW. Previously, the SEC had filed charges against Cumberland DRW in October last year for allegedly operating as an unregistered securities dealer. At that time, the SEC claimed in its complaint that Polygon Ecosystem Token (POL), Solana (SOL), Cosmos (ATOM), Algorand (ALGO), and Filecoin (FIL) were securities.
Zach Pandl, Head of Research at cryptocurrency asset management firm Grayscale, stated in an interview with Fortune on the 4th (local time) that "President Trump's adoption of XRP, Solana (SOL), and Ada (ADA) as strategic reserves reflects the increasing trend of investors diversifying their holdings." He added, "Regardless of their positive outlook on Bitcoin (BTC), investors are increasingly diversifying cryptocurrencies, just as they diversify across various asset classes such as stocks, bonds, and commodities."
According to the virtual asset (cryptocurrency) specialized media WatcherGuru X (formerly Twitter) account on the 4th (local time), Larry Fink, BlackRock Chief Executive Officer (CEO), stated that "when the market falls significantly, investors should utilize this as a buying opportunity."
Michael Saylor, founder of Strategy (formerly MicroStrategy), revealed on the 4th (local time) through X (formerly Twitter) that he has been invited to the White House Crypto Summit to be held on the 7th (local time). President Donald Trump and White House virtual asset (cryptocurrency) czar David Sacks are expected to participate in the summit. 
Bitcoin (BTC) has temporarily recovered to the $88,000 level. Meanwhile, as of 04:56 on the 5th, BTC is trading at $88,333.14 on the Binance Tether (USDT) market, up 2.81% from the previous day.
According to The Block, a cryptocurrency specialized media outlet, on the 4th (local time), cryptocurrency exchange Bybit plans to provide rewards to customers who hold and use Ethena stablecoin USDtb. USDtb is listed on Bybit, and it will also be added as a collateral option for margin trading within a week after March 6th (local time), according to the explanation. As a result, users will be able to receive up to 5.00% APR after March 6th.
Bitcoin (BTC) has temporarily recovered to the $87,000 level. Meanwhile, as of 04:03 on the 5th, BTC is trading at $87,124.68 on the Binance Tether (USDT) market, down 0.54% compared to the previous day.
According to cryptocurrency media outlet WuBlockchain on the 4th (local time), blockchain technology developer Blockstream announced that it has secured billions of dollars in investment to launch cryptocurrency funds. The specific investment amount was not disclosed. Blockstream plans to operate three cryptocurrency funds, two of which are loan products including Bitcoin (BTC) collateralized loans and cryptocurrency borrowing backed by US dollars, while the remaining one aims to utilize hedge fund strategies for investment management.
According to cryptocurrency media outlet CoinDesk on the 4th (local time), Brian Strugatz, the trading head of cryptocurrency market-making firm FalconX, has resigned. He joined FalconX three years ago and has been responsible for providing trading, financial, and custody services to large institutions.
Bitcoin (BTC) has temporarily recovered to the $85,000 level. Meanwhile, as of 02:38 on the 5th, BTC is trading at $85,281.27 on the Binance Tether (USDT) market, down 5.93% compared to the previous day.
According to cryptocurrency media Cointelegraph on the 4th (local time), Belarus President Alexander Lukashenko has directed the Minister of Energy to develop the national cryptocurrency mining industry, emphasizing the creation of additional revenue sources using surplus energy. He mentioned the United States, saying, "We need to see where the world is heading," and added, "Recently, the world's largest economy announced about cryptocurrency strategic reserves."
Bitcoin (BTC) has temporarily recovered to the $84,000 level. Meanwhile, as of 02:20 on the 5th, BTC is trading at $84,370.81 on the Binance Tether (USDT) market, down 6.66% from the previous day.