SnapShot 197

BTC recovers, Strategy’s $21 billion stock offering, and Washington to pass new stablecoin legislation

Hello SnapShotters,

Despite President Trump’s recent Executive Order establishing a Bitcoin reserve, investor sentiment in both crypto and TradFi markets seemed focused on tariffs this week, with indexes dropping. Bitcoin fell below $77,000, but recovered to $83,000 midweek, correcting what some analysts described as an “overly cautious risk-off sentiment.”

Strategy’s long-term bullish sentiment also remains unchanged: The company, formerly known as MicroStrategy, released a new stock offering, aiming to raise $21 billion to acquire more Bitcoin.

Read on for more news below — including Utah’s and Texas’s crypto bills.

Market Spotlight

Note: Market prices captured in USD at the time of sending. Explore more on Crypto‌.com/Price. 
Want more? Get weekly Market and DeFi Updates from Crypto.‌com’s Research Team.

News Snaps

📈 Strategy Seeks to Raise $21 Billion Through Stock Offering

Strategy, formerly known as MicroStrategy, is planning to raise up to $21 billion by selling its perpetual strike preferred stock, STRK. The proceeds will be used to acquire more BTC, as well as for working capital.

🇺🇸 Two U.S. States Pass Crypto Bills

Texas and Utah took another step toward integrating crypto at the state level this week. After passing a bill permitting state investment into Bitcoin, Texas introduced a second bill to cap fund allocations at $250 million. Utah, meanwhile, opted for a clear framework guaranteeing the rights of citizens to crypto activities like self-custody and asset staking.  

Crypto.com Partners With Tawasal SuperApp in UAE

Crypto.com announced an exciting partnership with Tawasal, one of the leading players in the AI and technology market of the UAE. Through the partnership, Crypto.com becomes the exclusive crypto partner for Tawasal and will be integrated with the Tawasal SuperApp.

🇸🇻 El Salvador and Paraguay Partner on Crypto Regulations

El Salvador and Paraguay have signed a regulatory agreement to collaborate on cryptocurrency oversight, with both countries working together to detect and curb unlicensed crypto operations in Paraguay while strengthening anti-money laundering measures.

🇸🇬 Singapore Exchange Aims to List BTC Futures in 2025

The Singapore Exchange (SGX) is preparing to launch BTC perpetual futures in the second half of 2025. The product is aimed at institutional and professional investors, giving them access to a trusted alternative for trading cryptocurrency futures.

Crypto.com Receives UAE License

Crypto.com finished off the week by announcing it has been issued a limited license by Dubai’s Virtual Assets Regulatory Authority (VARA) to offer derivatives in the UAE, including futures, perpetual swap contracts, and CFDs. 

What’s Ahead

📜 Lawmakers Assemble Stablecoin Legislation Post-Summit

Efforts to put full-fledged stablecoin legislation together are in the works after the White House crypto summit last Friday, where President Trump expressed his support for a working framework before August.

On Thursday, the Senate Banking Committee approved the “Guaranteeing Electronic Notes and Income Stability (GENIUS) Act” with an 18-6 vote, moving it to the full Senate for debate.

Number of the Week

Chart of the Week

The U.S. government holds $16.7 billion worth of crypto as of March 10, including $16.3 billion worth of Bitcoin (198,109 BTC), accounting for 97.5% of the portfolio, according to Arkham Intelligence. 

With the recently signed Executive Order to establish a Strategic Bitcoin Reserve, the government will not sell any BTC in the reserve, effectively removing $16 billion of potential sell pressure on Bitcoin.

Research & Insights

Monthly Feature Article | Wall Street On-Chain Part 1 — Will Bitcoin be Another Asset?

Bitcoin has made a solid run in the past year to widen the gap between its performance against altcoins. It is also often described as ‘digital gold’ for being seen as a store of value and potential hedge against inflation. 

Based on its recent developments and adoption in institutions, this report explores if BTC could become another new asset and examines potential contenders to Bitcoin.

Read the report here.

Crypto Trivia

 What does the term ‘debanked’ typically refer to?

A) Losing, or not having access to, banking services
B) Opening multiple bank accounts
C) Switching banks frequently

Scroll to find the correct answer at the end of this newsletter 👇

NFT Spotlight

“We are made of the dust and living matter of this planet,” says artist Igor Martins. “The tissues of our bodies were formed from this cosmos, and it is in consonance with the pulsing of the atoms of this biosphere that our hearts beat.”

Dropping on Monday, March 17, is Martins’ third curated drop with Crypto.com — ‘Geosymbiosis’, an NFT collection of 500 “unique works of art, themed on the reflection that we are part of this planet in a symbiotic relationship.” Each of the works is available in 1920 x 2400 pixel resolution as a JPG image file.

Martins “explores the relationship between the physical and the metaphysical” with “themes of transcendence and contemplation. It is impossible to detach ourselves from where we came from and where we are going. To dust we will return…”

See the symbiotic relationship. From an artist who dives deep into the human realm.

Product Updates

Crypto.com Onchain Revamps the Token Details Page

The Token Details Page in the Onchain wallet has been greatly enhanced, providing you with a quick and convenient overview of any token to aid your understanding of project tokenomics before you invest. Key information, including Market Cap and 24H Volume, are displayed alongside valuable onchain metrics like available Liquidity Pools. What’s more, you can instantly buy or swap the selected token on the same page. Download Onchain now.

USDC Now Available for DeFi Lending

USD Coin (USDC) is now available for DeFi Lending in the Crypto.com App and on the Crypto.com Exchange, providing more ways for you to put your idle stablecoins to work. Simply supply your assets on Aave to enjoy yield without imposed terms. Get started now.

New Sports Listings Now Live in the Crypto.com App

Major championships have been added to Crypto.com Sports: You can now profit by correctly predicting the outcomes of the Men’s and Women’s College Basketball tournaments, as well as various Golf events, in the Crypto.com App or on the Crypto.com Web. Go to the Sports tab to get started. 

New Token Listings

Mistery On Cro (MERY)

Mistery On CRO is a community-driven meme token project on the Cronos Chain, where neither the founder nor the team has the authority to withdraw liquidity or alter the contract.

Levva Protocol (LVVA)

Levva Protocol, which has merged with Open Custody Protocol and adopted its OPEN tokens as LVVA, is an AI-powered DeFi portfolio manager that simplifies investment strategies, automates yield optimization, and provides full control over portfolios.

Epic Chain (EPIC)

Epic Chain (formerly Ethernity Chain) is an Ethereum layer-2 focused on Web3 entertainment, including blockchain games, real-world assets, NFTs and DeFi applications. 

This is informational content only and should not be considered as an investment recommendation. Some Crypto.com products may not be available in some jurisdictions.

Crypto Learn

What Drives Bitcoin’s Value?

Bitcoin’s value is said to be shaped by a combination of scarcity, utility, and market dynamics. Below are three potential drivers behind BTC’s worth:

Scarcity:
Bitcoin has a fixed supply of 21 million coins, making it a limited digital asset. As demand increases over time, limited supply adds to its perceived value.

Digital Utility:
Beyond trading, Bitcoin is increasingly being accepted by businesses, as well as used for remittances and explored by governments as a reserve asset or payment option.

Market Sentiment:
Regulatory developments and media coverage, especially in recent years, allow Bitcoin and its potential to be introduced to a wider audience, contributing to increased buying pressure.

Read this University article to learn what else influences Bitcoin’s value.

CryptoIRL

The Lion recently went looking for windmills to check off a bucket-list item — and look at this! The Crypto.com Royal Indigo Card and @_silverstar88_ having a quiet moment by the Dutch countryside.

Hashtag #CryptoIRL with your Crypto.‌com Card on your social profiles to get featured! Your 15 minutes of fame in the #CROFam awaits you!

Security Tips

Crypto Scammers Stole $1.2 Million Using Fake Police Reports

Scammers are posing as law enforcement and wallet providers to trick victims into revealing their seed phrases and stealing their funds.

In Kent, England, attackers used leaked personal data to generate fake reports via the UK’s Action Fraud system. Victims then received follow-up calls from scammers posing as security officers, pressuring them to share their seed phrases — granting full access to their wallets and crypto.

How to stay safe:

1. Never share your seed phrase with anyone.

2. Verify who’s contacting you by calling back using officially listed numbers.

3. If you are a victim of a scam, report it immediately so authorities can act on it.

Crypto Trivia Answer

A) ‘Debanked’ usually refers to not having, or losing access to, banking services.

That’s it for this week’s SnapShot. Want more? Find out what’s trending in the crypto world.