On March 30th, according to Onchain Lens monitoring, a newly built address extracted 1.777 million SOLs (worth $222 million) from Kraken six hours ago and pledged them.
According to Cryptonews citing the Russian newspaper Businessman, Irkutsk Oblast, the largest Bitcoin mining hotspot in Russia, may ban all cryptocurrency mining activities for the entire year starting from April 1st. The ban will only apply to the southern region of Irkutsk Oblast in Siberia, but may continue until mid-2031. The media outlet Businessman, which has good relations with the Kremlin, stated that its sources revealed that the Russian government "may completely ban mining activities in the southern part of Irkutsk Oblast as early as April 1st". As the first Bitcoin mining center in Russia, the southern part of Irkutsk Oblast has multiple large mining centers that collectively consume approximately 650 megawatts of electricity. Industry insiders told the newspaper that a comprehensive ban would cause significant problems for these centers. They added that 'if a ban is implemented', they will be unable to take action 'because it will be difficult to connect to networks in other regions'. Many neighboring areas have also implemented winter cryptocurrency mining bans, which may leave miners with no choice but to relocate.
Odaily Planet Daily News: Global compliant cryptocurrency trading platform Backpack has announced the official completion of its acquisition of FTX EU. As of today, Backpack EU has officially launched asset recovery procedures and fund allocation processes, providing clear and convenient fund return services for original FTX EU users to help them recover previously frozen fiat assets. After the completion of this acquisition, Backpack will reactivate the license held by FTX EU and will provide comprehensive cryptocurrency derivative trading services within the EU in the future.
According to BlockBeats news, on April 1st, CryptoQuant researcher Alex posted data on social media stating that the daily selling pressure of mainstream trading platforms has plummeted from 81000 BTC to 29000 BTC, and the market has entered a stage of asymmetric demand. After breaking through the $100000 mark, multiple rounds of profit taking have been successfully digested. At present, the seller's power tends to dry up, and the buyer's performance at the current price is calm, which lays the foundation for structural supply shortages. April and May may form a consolidation period, becoming the 'calm before the storm' before the next outbreak.
According to Cryptobriefing, the US Treasury Department and other federal agencies are expected to disclose their holdings of Bitcoin and other cryptocurrency assets on April 5th, in compliance with President Trump's recent directives. It will soon be clarified whether the digital assets mentioned by Trump earlier, such as XRP, SOL, and ADA, will be included in the national digital asset reserve. BTC Inc's CEO David Bailey stated that the audit results may reveal the reasons behind Bitcoin's recent price trend. On March 6th, Trump issued an executive order calling for the establishment of strategic Bitcoin reserves and digital asset reserves. According to a presidential document released on March 11th, all federal agencies must report their holdings of Bitcoin and other digital assets to the Secretary of the Treasury within 30 days of the order being issued. The Minister of Finance has also been instructed to establish two offices to manage digital assets held by the government. The strategic Bitcoin reserve will store Bitcoin obtained through criminal or civil confiscation and will not sell Bitcoin. According to data tracked by Arkham Intelligence, the US government currently holds approximately 198012 bitcoins worth around $16 billion. White House cryptocurrency affairs chief David Sacks stated that the US government has seized approximately 400000 bitcoins through civil and criminal asset confiscation in the past decade. However, about half of them, 195000 bitcoins, have been sold for a profit of $366 million. If the government had kept all 400000 bitcoins at that time, their value would now exceed $17 billion.
According to Cryptoslate, a Brazilian court has approved the use of NFTs to issue a notice to an unconfirmed defendant involved in a missing Bitcoin case, which is related to the alleged pyramid scheme of BWA Brazil company. This decision stems from a legal lawsuit filed by the BWA Brazil bankruptcy court appointing a trustee who attempted to interrupt the statute of limitations for claims related to cryptocurrency assets allegedly obtained using creditor funds. The bankruptcy estate requests the court to allow the casting of NFTs containing relevant legal documents and sending them to the wallet address involved in the initial transaction for digital delivery of legal process documents. In addition, the prosecutor's office also submitted favorable opinions in support of the trustee's request. This measure targets digital asset holders whose identities are unknown but whose wallet addresses can be traced through the Bitcoin blockchain. The bankruptcy estate claims that approximately 11200 BTC were obtained using creditor funds. At current prices, 11200 bitcoins are worth over $900 million. According to the litigation documents, these transactions occurred before bankruptcy and may currently face recovery proceedings. BWA Brazil was founded by Paulo Roberto Ramos Bilibio in 2017. The company froze withdrawals in early 2020, resulting in an estimated loss of 300 million Brazilian reals (approximately $52.2 million) for customers. Authorities estimate that this is one of the biggest losses in Brazil related to suspected cryptocurrency pyramid schemes. In July 2020, a Brazilian court approved BWA's judicial restructuring application, stating that it would repay its clients. However, less than a year later, another court order changed the procedure from judicial reorganization to bankruptcy, stating that the company had not made any efforts to repay its customers.
