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Coinbase faces criticism over alleged lobbying against a proposed Bitcoin tax exemption in the US.
BlackRock launched a staked Ethereum ETF that generated $15.5 million in first-day trading volume.
Pi Network surged over 30% following Kraken’s listing announcement.
The cryptocurrency market saw major developments across regulation, institutional investment, decentralized finance risks, and emerging altcoin activity. From allegations surrounding Coinbase’s lobbying strategy to BlackRock’s new Ethereum staking ETF.
Coinbase has come under scrutiny following allegations that it lobbied against a proposed “de minimis” tax exemption for Bitcoin payments in the United States.
The proposed exemption aims to remove tax liability on small cryptocurrency transactions, potentially making digital assets easier to use for everyday purchases.
Critics claim Coinbase argued that Bitcoin is not widely used for daily payments and that implementing such an exemption could fail to achieve its intended goals.
Instead, the company reportedly supported limiting the exemption to regulated dollar-pegged stablecoins, including USD Coin (USDC), which Coinbase co-founded.
Coinbase expects to generate around $1.35 billion in stablecoin-related revenue in 2025, largely from interest earned on reserves held in US Treasury bonds backing USDC.
Blockchain data shows Cardano whales recently accumulated approximately $35 million worth of ADA amid the asset’s 22% decline since the start of the year.
Wallets holding between 100 million and 1 billion ADA increased their combined holdings from 2.57 billion to 2.68 billion ADA around March 9, 2026.
Another group of wallets holding between 10 million and 100 million ADA also resumed buying activity around March 11. In total, these whales accumulated about 140 million ADA tokens,
The network’s total value locked (TVL) increased from around $115 million to about $140 million, a 22% rise in DeFi capital.
BlackRock’s newly launched iShares Staked Ethereum Trust ETF (ETHB) recorded over $15.5 million in trading volume on its first day, according to Bloomberg.
The ETF launched with over $100 million in assets and introduces a new structure that allows the fund to stake between 70% and 95% of its Ethereum holdings.
Approximately 82% of staking rewards will be distributed to ETF holders each month, while the remaining 18% will be allocated to the fund sponsor and execution agent.
The ETF carries an annual sponsor fee of 0.25%, temporarily reduced to 0.12% for the first $2.5 billion in assets during its first year.
Also Read: Could a New XRP ETF Launch Trigger the Next Price Rally?
A crypto whale reportedly lost nearly $50 million after attempting to swap $50 million worth of USDT for AAVE tokens in a single transaction.
Because decentralized exchanges rely on liquidity pools, the large order encountered extreme slippage, resulting in the trader receiving only 324 AAVE tokens, worth approximately $50,000.
The transaction was executed through CoW Swap, and according to Aave founder Stani Kulechov, the platform displayed multiple warnings about extraordinary price impact before the trade was confirmed.
AAVE rose roughly 5% in the past 24 hours, partly due to the unusual buying activity generated by the failed trade.
Pi Network token (PI) surged over 30% after cryptocurrency exchange Kraken announced plans to list the asset.
Pi Network operates as a mobile-first cryptocurrency project that allows users to “mine” tokens through a smartphone-based trust graph rather than traditional proof-of-work mining.
The project launched its externally connected mainnet in February 2025, reporting around 19 million KYC-verified users and roughly 10 million migrated accounts.
Despite these concerns, the listing announcement has renewed interest in the project as traders speculate on its future adoption.
Spot Bitcoin ETFs recorded $53.87 million in net inflows on March 12 2026, according to SoSoValue. The inflows mark the fourth consecutive day of positive capital inflows.
BlackRock’s IBIT ETF led inflows with $46.15 million, bringing its cumulative net inflows to $62.92 billion.
While Fidelity’s FBTC recorded $15.30 million in new capital, bringing its cumulative net inflows to $10.97 billion.
The total net asset value of Bitcoin spot ETFs currently stands at $90.47 billion, representing 6.45% of Bitcoin’s total market capitalization.
Also Read: Bitcoin Hits Range High: Will a Pullback Send BTC to $62.8K?
1. Why is Coinbase being criticized regarding Bitcoin tax rules?
Coinbase allegedly opposed a Bitcoin “de minimis” tax exemption, supporting stablecoins instead, which critics say could favor its USDC revenue model.
2. Why are Cardano whales buying ADA despite price declines?
Large investors accumulated $35 million in ADA, possibly positioning ahead of ecosystem developments and rising DeFi activity on the network.
3. What is BlackRock’s Staked Ethereum ETF?
The iShares Staked Ethereum Trust ETF (ETHB) allows institutional investors to gain ETH exposure while earning staking rewards distributed monthly.
4. What caused the $50 million AAVE trading loss?
A trader swapped $50M USDT for AAVE in a single transaction, triggering extreme slippage due to insufficient liquidity in the decentralized exchange pool.
5. Why did Pi Network’s token surge recently?
The PI token jumped more than 30% after crypto exchange Kraken announced plans to list the asset, boosting trader interest.
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