The narrative around a government-driven strategic reserve has faded a mere week after it was hyped by President Trump on social media. Bitcoin price action remains uncertain, characterized by immediate retracements after rallies and positioned in a “void” between significant volume ranges, indicating weak market strength. Open interest continues to trend downward despite recent price increases, suggesting limited directional leverage and potential vulnerability to further downside. External factors, including volatility in equity markets driven by tariff news, continue to suppress optimism for a sustained rally.
2025.03.10·links.tldrnewsletter.com·7 min read·TLDR Crypto Hyperliquid has rapidly become a dominant force in decentralized perpetuals trading, capturing an unprecedented 64.71% share of total onchain perps volume with CEX-like speed, liquidity, and UX. Unlike many DEX competitors, Hyperliquid's custom blockchain enables sub-second transaction finality, 100k orders per second, and composable DeFi features. This performance is enhanced by community-centric development, including products like liquidity vaults, spot markets featuring major assets, and user-driven improvements, ensuring alignment with traders over short-term investors.
2025.03.10·links.tldrnewsletter.com·13 min read·TLDR Crypto The OCC's new Interpretive Letter 1183 reaffirms that national banks can engage in crypto custody, stablecoin activities, and blockchain validation without prior regulatory approval.
After the White House Crypto Summit this past Friday, Coinbase CEO Brian Armstrong announced that the exchange is planning to hire a thousand people because of policy progress in the current US administration.
By using Base, Circle, and the Moonwell Card, people can now use a fully integrated crypto primary financial account that allows one to pay for everyday items while keeping their assets on-chain to earn interest.
2025.03.10·links.tldrnewsletter.com·1 min read·TLDR Crypto The Texas Senate passed Senate Bill No. 21 to create a state-level Bitcoin reserve, which would hold BTC and other cryptocurrencies with at least a $500B market cap, pending approval by the House and Governor.
President Trump has signed an Executive Order to establish a Strategic Bitcoin Reserve, which will be capitalized with forfeited federal Bitcoin holdings at no cost to taxpayers, along with a U.S. Digital Asset Stockpile for other forfeited digital assets. The order aims to preserve these assets as a store of value and maximize their worth.
Japan's ruling Liberal Democratic Party has proposed to reclassify crypto under the Financial Instruments and Exchange Act to cap crypto tax rates at 20% (matching the tax rate for securities) instead of the current maximum of 55%. The proposal aims to encourage market growth, protect investors, and pave the way for innovations like spot crypto ETFs.
2025.03.07·links.tldrnewsletter.com·2 min read·TLDR Crypto The Dantewada District Administration has migrated its land records to the Avalanche blockchain, allowing for transparent and persistent record-keeping. The records include ownership forms, maps, and plot registers, and allow owners to instantly prove ownership.
Seismic is an upcoming blockchain focused on protocol-level encryption rather than wallet-level privacy, aiming to enable encrypted transactions between multiple parties. The chain achieves this by restructuring the chain stack around secure hardware and cloning EVM memory segments into transparent and encrypted regions, maintaining encryption throughout state replication. Three initial protocols have already been developed – NIBBLE for restaurant revenue sharing, RIFF for music-based bonding curves, and FOLIO for global pay-it-forward chains.
A new governance proposal aims to deploy Fluid on Polygon with 1.5M POL tokens allocated as lending incentives, plus around $10M in stablecoin and $25M in POL/LST liquidity. Fluid will match these incentives with 1.5M FLUID tokens once the platform reaches $60M in stablecoin borrows and Polygon's combined DEX volume maintains $2.5B weekly for two consecutive weeks.
Safe{Wallet}, in collaboration with Mandiant, has confirmed that the February 21 security breach was a state-sponsored attack by TraderTraitor, a DPRK-linked threat group. The team has since implemented extensive security upgrades, restored systems, and is calling on the Web3 community to enhance security measures industry-wide.
2025.03.07·links.tldrnewsletter.com·5 min read·TLDR Crypto Ethereum has underperformed Bitcoin and the ETH/BTC ratio falling to levels not seen since 2018, prompting a grassroots "Brand Hack" initiative to address Ethereum's marketing shortcomings. While Ethereum prioritized decentralization over scalability—a technically sound decision evidenced by its dominance in stablecoin TVL—it has failed to effectively communicate its value proposition or cultivate the cultural relevance enjoyed by competitors like Solana. One remedy is to position Ethereum as "The Internet You Can Own" and implement an Intel Inside-inspired marketing program, where applications built on Ethereum would display a certification logo in exchange for financial and ecosystem support.
2025.03.07·links.tldrnewsletter.com·17 min read·TLDR Crypto SIMD 228, a proposal to reduce Solana's token emissions, argues that the current system creates significant economic inefficiencies by recycling value from SOL holders back to stakers while exposing participants to substantial tax liabilities and middleman fees. With Solana currently emitting approximately 28 million SOL annually (worth $4.7 billion), reducing these emissions could save the ecosystem $100-400 million per year that otherwise leaks to governments through unfavorable tax treatment where staking rewards face ordinary income rates instead of capital gains.
2025.03.07·links.tldrnewsletter.com·4 min read·TLDR Crypto New York's Assembly is considering legislation that would criminalize various forms of crypto fraud, like rug pulls, private key fraud, and undisclosed token interests.
Bankrupt crypto exchange Mt. Gox moved over $1 billion in bitcoin (11.8K BTC) to an unmarked address and roughly 167 BTC to its cold wallet in its first large transfer since January, while creditors continue to await repayment from the platform's 2014 collapse.
2025.03.07·links.tldrnewsletter.com·1 min read·TLDR Crypto Argentine federal prosecutor Eduardo Taiano hopes to freeze over $110M in assets tied to the Libra memecoin scandal, which gained attention because of its alleged connection to President Javier Milei.
2025.03.07·links.tldrnewsletter.com·2 min read·TLDR Crypto AI agent tokens have been dragged down 12% to $5.2 billion by tariff fears and amid a broader market slump.
2025.03.07·links.tldrnewsletter.com·7 min read·TLDR Crypto Coinbase is revisiting its goal to introduce tokenized securities to the U.S. market given the apparent regulatory shift under the Trump administration, which now appears more supportive of crypto innovation. With the SEC's crypto task force in place, Coinbase sees an opportunity to revive its earlier efforts to launch security tokens and improve traditional asset trading on-chain.
2025.03.06·links.tldrnewsletter.com·2 min read·TLDR Crypto Ethereum's Pectra upgrade has been activated on the Sepolia testnet, marking the final major test phase before its planned mainnet launch next month. The upgrade introduces improvements to scalability, security, and usability, including an improved wallet experience (less wallet approvals), account abstraction, and increased validator stake limits.
2025.03.06·links.tldrnewsletter.com·1 min read·TLDR Crypto Nexus has completed its second testnet for its upcoming blockchain, demonstrating scale with 2.1 million unique users and 3.6 million total nodes over a 4.5-day period. The testnet integrated blockchain functionality with its distributed supercomputer network. Nexus is working toward its vision of a “Verifiable Internet” powered by its zkVM, with the platform now transitioning to devnet mode for continued development.
2025.03.06·links.tldrnewsletter.com·3 min read·TLDR Crypto Cork Protocol has launched its public beta on Ethereum Mainnet, introducing a new DeFi primitive for pricing, hedging, and trading risk in the $30B onchain credit market. Depeg Swaps are a new asset class allowing users to price and hedge against depeg events in stablecoins and liquid staking tokens. The beta features capped liquidity vaults for the next 3-6 months, aiming to enable risk-free leveraged farming strategies and prevent systemic risks like Terra.
Stablecoins account for two-thirds of all onchain transactions and are increasingly growing with institutional and retail interest alike. Initially popularized by Tether for arbitrage, they've grown into a fast, low-cost alternative for transfers, payments, and yield generation, outpacing traditional wires and processors like Western Union. In regions plagued by capital controls and inefficient banking, stablecoins offer financial freedom and the potential to transform global money movement.
2025.03.06·links.tldrnewsletter.com·17 min read·TLDR Crypto Solana's DEX volume surpassed all EVM DEX volumes for the first time in January 2025. Despite this achievement and higher growth profiles, Solana DeFi continues to trade at lower valuation multiples compared to Ethereum counterparts, potentially presenting a market asymmetry. This shift, combined with Solana's milestone of one year without outages and the migration of Ethereum activity to Layer 2s, suggests a potential transition from EVM to SVM dominance in DeFi, while also validating Ethereum's modular scaling approach.
As crypto moves toward AI agents as the primary point of interaction, users will increasingly delegate complex tasks to their agents, requiring a secure and universal way to manage identity and permissions. Self-custody wallets will become the primary interface for both onchain and offchain activities, serving as a cryptographically-secure “autonomous extension” of users that can generate attestations and manage permissions on their behalf.
2025.03.06·links.tldrnewsletter.com·2 min read·TLDR Crypto Ethena Labs has become a top 5 DeFi protocol by TVL, generating over $300M in revenue, leading to the approval of a fee switch proposal by its Risk Committee. The activation of this fee switch depends on meeting key success and risk metrics, ensuring sustainable revenue distribution to ENA stakers.
Security researchers found a critical vulnerability in Time.fun that allowed attackers to steal trading fees and alter token metadata.
The Uniswap Foundation is voting on a $165.5M funding proposal to boost Uniswap v4 and Unichain adoption, which have struggled to gain traction.
The market is overreacting to Trump's crypto reserve announcement as a bitcoin-only reserve would be significantly more bullish.
2025.03.06·links.tldrnewsletter.com·5 min read·TLDR Crypto Under the new U.S. crypto reserve model, bitcoin will be given a unique strategic status distinct from other cryptocurrencies.
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The U.S. Senate voted 70-28 to overturn a controversial crypto tax rule requiring custodial brokers (e.g. DeFi companies) to collect and report user data to the IRS. The resolution, backed by Trump, now moves to the House for a vote before potentially becoming law, amid industry concerns over privacy and innovation.
2025.03.05·links.tldrnewsletter.com·3 min read·TLDR Crypto The IMF's new $1.4B loan deal to El Salvador bans the government from voluntarily accumulating any additional Bitcoin and bars public sector debt issuance indexed to or denominated in BTC. This measure follows prior IMF warnings over El Salvador's Bitcoin adoption, further restricting official Bitcoin-related economic activities in the country.
The Aave Community Initiative (ACI) has proposed the first phase of implementing updated "Aavenomics," seeking governance approval to establish an Aave Finance Committee (AFC) for managing treasury assets and optimizing liquidity incentives. Key changes include phasing out legacy LEND token migration, introducing “Anti-GHO” rewards for AAVE stakers to enhance protocol revenue redistribution, and launching a $1M/week AAVE buyback program to bolster long-term token sustainability.
Trust Wallet's February updates include support for XRP Ledger, Sonic Blockchain integration, improved Bitcoin swaps, and ETH hardware wallet support. The team also hit 197M downloads, hosted global community events, and featured deep dives with industry leaders.
Collectibles-oriented L2 Zora is launching the ZORA token in the coming months. With over 2 million collectors and 600,000 creators, the platform has generated nearly $30 million in rewards and $376 million in volume. The token will launch on Base, with 10% rewarded to users via retroactive airdrop.
A DeFi investor outlines a cautious 2025 crypto strategy, anticipating a shift toward yield-generating stablecoins (e.g., USDe, DAI) and U.S.-aligned assets amid fading memecoin hype and stagnant altcoins. He predicts DeFi innovations leveraging stablecoins' composability and Trump-era pro-crypto policies—such as regulatory easing and domestic token incentives—could drive growth. Stablecoin adoption and U.S.-focused projects like SOL and XRP are flagged as key areas to monitor in a bearish market.
2025.03.05·links.tldrnewsletter.com·7 min read·TLDR Crypto Even though the market is down, stablecoin yields remain high, with Berachain pools offering up to 20% APR and Pendle fixed rates reaching 19% on various stablecoins. New entrants like Midas RWA are emerging with yield strategies backed by major financial players, while established platforms like Dolomite and Contango continue to offer leveraged, therefore riskier, yields between 40-120% APR.
Across has secured $41M in a strategic token sale led by Paradigm, with backing from major investors like Bain Capital Crypto and Coinbase Ventures. Despite market turbulence, the team remains focused on building infrastructure to unify Ethereum.
Recent technological breakthroughs have validated the feasibility of distributed AI model training over standard connection rails, challenging the notion that AI development requires centralized data centers and massive capital expenditure. Protocols like Prime Intellect, Nous Research, and Gensyn are launching solutions combining blockchain as the coordination layer and crypto-economic incentives to create global GPU networks. Each project is taking different approaches to verification, coordination, and value capture, and could compete with centralized providers.
2025.03.05·links.tldrnewsletter.com·7 min read·TLDR Crypto The crypto industry is transitioning from speculative trading toward practical business applications, as evidenced by ETH Denver 2024's focus on institutional adoption and real-world utility. There are fewer “crypto mercenaries” and more high-quality entrants from traditional finance and technology sectors working on stablecoins, AI, and DePIN projects. While token markets face uncertainty due to regulatory changes, the industry appears to be moving toward a bifurcated future where regulated, KYC-compliant financial products coexist with traditional crypto markets.
2025.03.05·links.tldrnewsletter.com·6 min read·TLDR Crypto The crypto market experienced a sharp downturn with $1B in liquidations in one day, driven by rising risk aversion amid the Trump administration's new tariffs and a steep decline in U.S. equity prices.
2025.03.05·links.tldrnewsletter.com·2 min read·TLDR Crypto Bitcoin has underperformed as a supposed asset hedge while gold has increased to near-record highs.
2025.03.05·links.tldrnewsletter.com·2 min read·TLDR Crypto The UAE's crypto legal landscape has a large network of regulators (e.g., SCA, VARA, DFSA, and FSRA), multiple free zones (e.g., AFZA, DMCC, DIFC, and ADGM), and various government initiatives designed to bolster innovation.
Rob Hadick believes the Trump administration appears to be steering the U.S. toward a recession, possibly to justify major spending cuts before attempting to revive growth through tax cuts, quantitative easing, and subsidies.
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Trump's plan to establish a Crypto Strategic Reserve including Bitcoin and other assets could improve long-term stability and refocus investor attention on a $500K Bitcoin target. This initiative may prompt U.S. states to create their own Bitcoin reserves, reducing downside risk and paving the way for sustained market growth.
2025.03.04·links.tldrnewsletter.com·3 min read·TLDR Crypto President Trump's Sunday announcement of a US crypto reserve initially boosted prices, but by Monday, Bitcoin fell to $86,700, nearly erasing all gains, while ETH dropped below its pre-announcement level and the ETH/BTC ratio hit a five-year low of 0.025. The stock market declined ahead of tariffs on Mexico, Canada, and China, amplifying uncertainty across risk assets and suggesting a cautious near-term outlook for crypto.