KEYTAKEAWAYS
- MGX, the Emirati state-owned investment firm, has made a landmark $2 billion stablecoin investment into Binance, marking the cryptocurrency exchange's first institutional investment and the largest single crypto transaction.
- Six of Trump's 22 cabinet members hold Bitcoin or related assets worth millions, reflecting cryptocurrency's growing influence in political and financial spheres as his administration pursues pro-crypto policies.
- South Korea will issue comprehensive guidelines for institutional cryptocurrency investment by Q3 2025, effectively lifting the existing ban and potentially transforming one of the world's largest retail crypto markets.
CONTENT
Welcome to the CoinRank Crypto News Roundup. CoinRank will provide daily important crypto news in this column series, allowing readers to quickly obtain the latest crucial updates from the cryptocurrency market.
MORNING NEWS
1. MGX Makes Historic $2 Billion Investment in Binance
Emirati state-owned investment firm MGX has announced a $2 billion investment in Binance, marking the cryptocurrency exchange’s first institutional investment and the “single largest investment” ever made in the crypto sector. The minority stake will be paid for in stablecoins, making it the largest investment ever paid in cryptocurrency. Launched last year with a focus on AI technology, MGX aims to “enable innovation at the intersection of AI, blockchain technology and finance” through this partnership. Binance currently employs approximately 1,000 of its 5,000 global workforce in the UAE, has over 260 million registered users, and has surpassed $100 trillion in cumulative trading volume.
2. Franklin Templeton Files for Solana and XRP ETFs
Franklin Templeton has requested the SEC to list both Solana and XRP ETFs, filing with the Cboe BZX Exchange on March 12 and March 11, respectively. If approved, the American investment management firm would become the largest asset manager to launch ETFs tied to SOL and XRP. The asset manager previously launched a spot Bitcoin ETF in January 2024 and a spot Ethereum ETF in July 2024. ETF analyst James Seyffart referred to the delays as “standard procedure,” noting that the final deadline for the SEC to approve these ETFs is October 2025 and expressing optimism about their approval chances.
3. Sony’s Blockchain Division Partners with LINE for Web3 Integration
Sony’s blockchain division is bringing Japanese social media giant LINE into the web3 world, with plans to adapt several popular mini-apps onto Sony’s Soeneium network. With approximately 200 million active users, LINE will bring four games (Sleepagotchi, Farm Frens, Puffy Match, and Pocket Mob) to Soneium to facilitate features like in-game rewards and purchases. Jun Watanabe, chairman of Sony Block Solutions Labs, stated: “LINE has built a strong presence and integrating successful mini-apps into the Soneium ecosystem is a next step toward making Soneium more accessible.” Launched in January, Soneium is a layer-2 network on top of Ethereum that uses Optimism’s OP Stack technology and currently ranks as the 15th largest layer-2 network by total value locked.
4. Nebraska Signs Bitcoin ATM Protection Bill into Law
Nebraska Governor Jim Pillen has signed bill LB609, the Controllable Electronic Record Fraud Prevention Act, into law to help protect users of Bitcoin ATMs and other electronic kiosks. The act implements regulations to warn individuals of potential fraudulent behavior and includes provisions requiring kiosk operators to clearly disclose all terms to users, including distinct warnings about consumer fraud signs. It also establishes guidelines for fraudulently induced behavior, allowing customers who report fraudulent activity within 90 days to receive full refunds. According to data provided to NBC News, the Federal Trade Commission indicated that consumers lost more than $110 million in scams related to crypto ATMs in 2023. Unlike many states, Nebraska is not currently considering legislation to establish a Bitcoin or cryptocurrency reserve.
5. SEC vs. Ripple Case Reportedly Nearing Resolution
The U.S. Securities and Exchange Commission case against Ripple regarding the sale of XRP could be nearing its conclusion, according to Fox Business journalist Eleanor Terrett. Two sources indicated that the delay in reaching an agreement stems from Ripple’s legal team negotiating more favorable terms regarding the August district court ruling, which imposed a $125 million fine and included a permanent injunction preventing the company from selling XRP to institutional investors. Ripple’s argument centers on the SEC’s shifting stance on cryptocurrency regulation under new leadership, contending that if the agency is “wiping the enforcement slate clean for all previously-targeted crypto firms,” Ripple should not be penalized for alleged past violations.
NOON NEWS
1. USDT On-Chain Activity Reaches 6-Month High
According to blockchain data platform Santiment, Tether (USDT) on-chain activity has reached a 6-month high, with over 143,000 wallets conducting transfers on March 11. Analysts believe this may indicate that traders are preparing for a market rebound. Vincent Liu, Chief Investment Officer of Kronos Research, pointed out that traders typically accumulate USDT during market downturns to look for buying opportunities, thereby increasing buying pressure and driving prices up. Additionally, the inflation rate in February dropped to 2.8%, which may create a more favorable environment for the cryptocurrency market.
2. South Korea to Release Institutional Crypto Investment Guidelines
South Korea’s Financial Services Commission (FSC) has announced plans to issue comprehensive guidelines for institutional cryptocurrency investment by the third quarter of this year, effectively lifting the existing de facto ban on institutional participation in the crypto market. While broader investment guidelines for public companies and professional investors are targeted for Q3, the FSC aims to publish guidelines for non-profit organizations and cryptocurrency exchanges as early as April. FSC Vice Chairman Kim So-young emphasized that the forthcoming guidelines will focus on establishing “best practices” for institutional crypto investment, including clear standards for trading activities, disclosure requirements, and reporting obligations. The potential entry of institutional investors is expected to have a transformative impact on South Korea’s crypto market, which already has an estimated 15.6 million citizens, roughly 30% of the population, actively trading cryptocurrencies.
3. Bitcoin Spot ETFs See $13.33 Million Net Inflow
On March 12, Bitcoin spot ETFs experienced a net inflow of $13.33 million, marking a significant rebound after seven consecutive days of outflows. The uptick helped boost the cumulative total net inflow to $35.42 billion, according to data from SoSoValue. iShares Bitcoin Trust (IBIT) by BlackRock experienced an outflow of $47.05 million, while ARKB (Ark & 21Shares) recorded an inflow of $82.60 million. Meanwhile, Ethereum spot ETFs saw a net outflow of $10.4 million on the same day. Bitcoin investors who bought at its all-time high of $109,000 in January are reportedly panic-selling as prices decline, according to on-chain analytics firm Glassnode, which warned that continued selling pressure could push Bitcoin’s price down to $70,000.
4. Ripple Obtains Dubai Financial Services Authority License
Ripple has received approval from the Dubai Financial Services Authority (DFSA) to provide regulated crypto payments and services in the Dubai International Finance Centre (DIFC), becoming the first blockchain-enabled payments provider licensed by the DFSA. This marks Ripple’s first license in the Middle East and underscores the company’s commitment to the region and regulatory compliance globally. Since establishing its Middle East headquarters in DIFC in 2020, Ripple has deepened its presence in the region, with around 20% of its global customer base already operating in the Middle East. The UAE is a global hub for outbound finance, with a $400+ billion market for international trade. Ripple’s DFSA license adds to its growing list of over 60 regulatory approvals worldwide.
5. Argentine Lawyer Seeks International Arrest Warrant for LIBRA Scandal Figure
Argentine lawyer Gregorio Dalbón has requested an international arrest warrant for Hayden Davis, the alleged mastermind behind the LIBRA meme coin scandal, seeking an Interpol Red Notice. The LIBRA token continues to plummet in value, causing significant financial losses for investors. The scandal has deeply implicated President Javier Milei’s administration, which publicly promoted the token shortly before its price crash. Authorities have moved to freeze approximately $100 million in crypto linked to the scheme. Blockchain analysis firm Nansen reported that retail investors suffered staggering losses, while wallets associated with Davis and another key figure, Kelsier, extracted significant profits before the token’s collapse.
EVENING NEWS
1. Bitcoin Dominance Reaches New Highs as Altcoin Rally Fizzles
Bitcoin’s dominance has reached new highs as the altcoin rally fizzles out, according to data from Matrixport. As of March 12, Bitcoin dominance stands at 61.2%, up from a cycle low of around 54% in December. Rising BTC dominance is “clear evidence that the altcoin rally was short-lived,” Matrixport noted, adding that it “lasted barely a month, from Trump’s election in November to early December, when a stronger-than-expected U.S. jobs report shifted market focus toward a more hawkish Federal Reserve.” Bitcoin’s dominance typically wanes near the end of market cycles as capital rotates into altcoins. The next leg of Bitcoin’s rally depends largely on whether the Fed opts to hike interest rates to stave off inflation, though February’s Consumer Price Index came in lower than expected at around 2.8%.
2. Telegram’s Crypto Wallet Introduces Trading and Yield Features
Telegram’s crypto wallet, developed by third-party company The Open Platform (TOP), has introduced new multi-asset trading and yield functionalities. Based on the TON blockchain, the wallet launched in 2023 and has already signed up over 100 million users, most of whom are new to the crypto ecosystem. Following the update, users will be able to buy, sell, or hold crypto without any on-chain deposits, making it easier for newer users to engage with crypto. The wallet is also introducing an earning component for holding Toncoin, with an average yield of 4% that will vary based on validators’ rewards. Later this year, TOP plans to add yields for USDT holdings and launch loyalty programs for Toncoin holders. The new features will roll out to users in March and April, though some may be restricted in certain countries based on local regulations.
3. Six Trump Cabinet Members Hold Bitcoin Assets
Six of President Trump’s 22 cabinet members have disclosed Bitcoin holdings or indirect investments in the cryptocurrency, according to January financial disclosures reviewed by Fortune. Health and Human Services Secretary Robert Kennedy Jr. holds a Bitcoin Fidelity crypto account worth $1-5 million; Office of Management and Budget Director Russell Vought has $1,001-15,000 in Coinbase Bitcoin; Director of National Intelligence Tulsi Gabbard owns a Bitwise Bitcoin ETF Trust and Bitcoin worth $15,001-50,000 each; Defense Secretary Pete Hegseth holds $15,001-50,000 in Bitcoin; Treasury Secretary Scott Bessent disclosed an iShares Bitcoin Trust ETF worth $250,001-500,000; and Transportation Secretary Sean Duffy holds Bitcoin worth $250,001-500,000, Bitcoin in a Gemini wallet worth $250,001-500,000, and $50,001-100,000 in the Fidelity Wise Origin Bitcoin Fund. Abra CEO Bill Barhydt commented that the crypto industry has spent millions to support Trump’s reelection and pro-crypto lawmakers, noting that “headwinds have turned into tailwinds” with the SEC no longer pursuing crypto lawsuits.
4. GT On-Chain Staking Reaches 38.65 Million Tokens
The total on-chain staking amount for GT has surged to 38.65 million tokens, marking an increase of 2.26 million tokens from the previous quarter. The static yield associated with this staking amount stands at 6.80%, indicating a stable and attractive return for stakeholders. This growth suggests rising interest and confidence in the GT ecosystem, with more investors choosing to lock their tokens in the network. The increase in staking enhances the liquidity and security of the GT network while positioning it as a competitive player in the staking landscape.
5. PoPP Completes $6M Funding Round
Decentralized user protocol platform PoPP has announced the completion of its final $6 million financing round before its TGE (Token Generation Event), bringing the total financing amount to $12 million. Investors include Oasis Labs, X-Labs, Becker Ventures, InnoAlpha, and Blocklike Ventures. PoPP provides users with dynamic on-chain identity labels by analyzing on-chain behavior, accurately matching DApps, and offering developers privacy-protected precise audience targeting. Following the financing, PoPP will advance its AI-Profile technology, build a Web3 user ecosystem, optimize the smart matching experience, and expand into more application scenarios. The platform uses blockchain technology to construct users’ personal metaverse social relationships, enabling the issuance of programmable soul-bound tokens and NFTs to carry social relationships, organizational relationships, rights certificates, and works.
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