Crypto

Bitcoin grabbed downside liquidity as oil-supply pressure sent BTC price action below $66,500 to its lowest levels since March 9. Bitcoin ( BTC ) neared three-week lows into Friday’s Wall Street open amid reports of Iran closing the Strait of Hormuz oil route.

If betting markets are to be believed, the chances of former FTX CEO Sam Bankman-Fried getting a presidential pardon this year aren’t looking good. The chances of former FTX CEO Sam Bankman-Fried getting a pardon didn’t seem great this year, and a recent downtick on prediction markets shows that they aren’t getting any better.

An ECB working paper found DeFi governance remains highly concentrated, complicating efforts to identify who should fall under MiCA oversight. The European Central Bank published a working paper on March 26, finding that governance in four major DeFi protocols was heavily concentrated.

ICE completed a new $600 million investment in Polymarket, advancing its $2 billion funding deal as prediction markets face growing scrutiny. Intercontinental Exchange (ICE), the parent of the New York Stock Exchange (NYSE), said Friday it completed a new $600 million direct cash investment in Polymarket, deepening its bet on prediction markets as a new area of growth for exchange operators.

Bitcoin joined a risk-asset rout as oil-supply nerves sparked major US inflation warnings, with $70,000 in place as new BTC price resistance. Bitcoin ( BTC ) neared $66,000 at Friday’s Wall Street open as analysis called US inflation trends “objectively unsustainable.” Bitcoin drops further on oil-supply woes as Iran closes the Strait of Hormuz.

Crypto cycles trap retail in speculation. Savings layers with capital preservation and prize incentives rewrite participation for consistent gains.

Ether traders said ETH price could see further downside after bulls failed to defend the $2,000 support as signs of declining demand were apparent. Ether’s ( ETH ) drop below $2,000 on Friday put it at risk of a deeper correction in the coming weeks or months.

While prediction market platforms are under legal scrutiny in the US, many Coinbase users are claiming that the app is pushing them to gamble. Update (March 27 at 8:32 pm in UTC): This article has been updated to include a statement from Coinbase CEO Brian Armstrong.

A draft US crypto tax bill proposes stablecoin exemptions and new rules for digital assets, but excludes a Bitcoin de minimis provision. US Representatives Max Miller and Steven Horsford published a discussion draft bill on Thursday titled the ‘‘Digital Asset Protection, Accountability, Regulation, Innovation, Taxation, and Yields Act’’ or the ‘‘Digital Asset PARITY Act,” to overhaul the tax code for digital assets.