US authorities launched the “Operation Red Sunset” probe into Bitmain last year over potential espionage and grid risks. Senator Elizabeth Warren has reportedly asked the US Commerce Department to explain how it is handling potential national security risks tied to Chinese crypto mining giant Bitmain, following previous reports that the firm has been under federal scrutiny. In a letter sent Thursday to Commerce Secretary Howard Lutnick, Warren requested documents and communications related to Bitmain, which manufactures a large share of the world’s Bitcoin mining equipment, Bloomberg reported on Friday. In November last year, it was reported that US authorities had launched an investigation into Bitmain over potential national security risks. The probe, known as “Operation Red Sunset” and led by the US Department of Homeland Security, aimed to examine whether Bitmain’s ASIC machines could be remotely accessed for espionage or used to disrupt the US power grid. Read more
Bitcoin's return to an all-time high depends on how deep the current selloff extends, as data shows each new price low adds months to BTC's recovery time. Bitcoin (BTC) has shed all its March gains, currently down 1.40% on the monthly chart and 24.6% for the first quarter of 2026. Bitcoin’s longer-term performance aligns with a deep drawdown cycle for BTC, which may extend until the end of 2026 and many analysts expect another 40% drop in price. This scenario pushes Bitcoin’s recovery into Q2 2027, as a deeper BTC price drop tends to take longer to recover from. Ecoinometrics data shows a clear link between the drawdown depth and recovery duration. Each additional 10% decline has historically added about 80 days to the time required to reclaim the prior highs. Read more
Spot Bitcoin ETFs see $296 million in weekly outflows after a month-long inflow streak, as macro uncertainty keeps capital sidelined. Spot Bitcoin exchange-traded funds (ETFs) snapped a four-week inflow streak, posting $296.18 million in net outflows for the week ending Friday. The reversal follows a sustained run of inflows totaling more than $2.2 billion across four consecutive weeks, including $787.31 million, $568.45 million and $767.33 million in early March, before slowing to $95.18 million in the prior week, according to SoSoValue data. The weekly outflow followed back-to-back daily withdrawals on Thursday and Friday totaling more than $396 million, including a $225.48 million outflow on Friday alone, their biggest day of redemptions since March 3, when they posted $348 million in outflows. Read more
XRP shows improving risk-adjusted returns alongside rising whale flows, but rising leverage use and repeat liquidations point to a fragile futures market. The Sharpe Ratio for XRP (XRP), a measure of return per unit of risk, turned slightly positive on March 26, after spending months near or below zero between October 2024 and February 2025. A 30-day average return of 0.00063 supports this positive shift, while the Sharpe ratio stands at 0.0267, which reflects that the “current returns still exceed risk”. Onchain data indicates that whales have steadily accumulated XRP over the past month, pointing to demand despite the weak price action. Read more
Crypto lawyer Jake Chervinsky said legislation covering crypto developer protections has been overshadowed by the intense focus on stablecoin yield in the CLARITY Act. US Senator Cynthia Lummis has dismissed claims that the Digital Asset Market Clarity Act fails to protect decentralized finance innovators from legal repercussions, rebutting that recent changes to the draft will make it the “strongest protection for DeFi and developers ever enacted.” Her comments on Friday came in direct response to crypto lawyer Jake Chervinsky, who argued that Title 3 of the current draft undermines the Blockchain Regulatory Certainty Act — another crypto bill focused on developer protections — by subjecting non-custodial software developers to know-your-customer obligations. “Don’t believe the FUD,” Lummis said, adding, “We have worked on a bipartisan basis for the last few weeks to make changes to Title 3 that make this bill the strongest protection for DeFi and developers ever enacted. We have to pass the Clarity Act to g...
Ripple’s Brad Garlinghouse noted that stablecoin trading volume soared to over $33 trillion in 2025, while Bloomberg predicted that stablecoin flows would hit $56.6 trillion by 2030. Ripple CEO Brad Garlinghouse said stablecoins will be the crypto sector’s “ChatGPT moment” for businesses in search of faster, more efficient payments, and that many companies are already discussing and strategizing how to implement stablecoins into their operations. “You have boards of directors and CEOs of companies, whether it’s Fortune 500 or Fortune 2000, they’re asking their treasurers, they’re asking their CFOs, hey, what are we doing with stablecoins,” Garlinghouse told FOX Business on Friday. “Giving the treasurer and the CFO that option is the unlock,” he said. Read more
Bloomberg ETF analyst Eric Balchunas said Morgan Stanley’s 16,000 financial advisors, who manage $6.2 trillion in client assets, would have no problem recommending the product at such low fees. Investment bank Morgan Stanley is seeking to launch its spot Bitcoin exchange-traded fund at a 0.14% fee, which would make it the cheapest in the US market and potentially force rivals to cut fees to stay competitive. The 0.14% fee, proposed in Morgan Stanley’s latest S-1 registration statement on Friday, would be one basis point below the Grayscale Bitcoin Mini Trust ETF (BTC), currently the cheapest in the US market, and 11 basis points below the BlackRock-issued iShares Bitcoin Trust ETF (IBIT). “Big move here. They are not messing around,” Bloomberg ETF analyst James Seyffart said, predicting that the Morgan Stanley Bitcoin Trust (MSBT) is “likely to launch in early April.” Read more