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Recent Bitcoin Correction Could Persist Due To Whale Activity — Santiment

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The price of Bitcoin seemed to have broken into a fresh rally after making a run towards $75,000 during the week. However, the premier cryptocurrency has been on a steady decline since hitting a new one-month high around $74,000. According to a prominent blockchain firm, this decline may not be over yet for the price of BTC. 

Whales Offload 66% Of BTC Purchase After $74K High

In a Friday report, Santiment revealed that the price of Bitcoin could even fall lower from its current level due to rising whale activity. According to the crypto analytics firm, BTC whales — holding between 10 and 10,000 coins — acquired significant amounts of the flagship cryptocurrency between February 23 and March 3.

This heavy accumulation by this investor cohort occurred as the Bitcoin price oscillated between $62,900 and $69,600. However, after the market leader climbed above $70,000 and toward $74,000, these whales started offloading their purchases, selling off about 66% of their freshly-acquired coins.

At the same time, retail investors — entities holding below 0.01 Bitcoin — have been increasing their exposure to the world’s largest cryptocurrency since falling back below $70,000. Santiment noted that “when retail buys while whales sell, it typically signals that the correction is not yet over.”

Bitcoin

Source: Santiment

According to the blockchain firm, the correlation between the 10-10k investor cohort and the Bitcoin price action is currently extremely high. “The reaction time between their moves and price action is almost instantaneous right now, making this the highest-value signal for short-term direction,” Santiment revealed.

In its report, Santiment also acknowledged the ongoing geopolitical conflict between the United States, Israel, and Iran. Typically, conflict and tensions lead to volatility — as seen at the start of the Russia-Ukraine conflict, with the broader financial market often reacting with fear.

Santiment concluded:

Crypto moves based on the confidence of large capital holders, not just retail panic, so it will be interesting to watch the markets over the coming weeks. The markets are also affected by the expected duration and resolvability of the conflict.

With the current global uncertainty and recent whale activity, it is difficult to be optimistic about how the  Bitcoin price will move over the coming days.

Bitcoin Price At A Glance

As of this writing, the price of BTC stands at around $68,057, reflecting an almost 4% in the past 24 hours. According to data from CoinGecko, the value of the premier cryptocurrency has increased by nearly 7% in the past seven days.

Bitcoin

The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView

Featured image from iStock, chart from TradingView

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Florida Gov. Ron DeSantis Eyes State Stablecoin Framework Following Senate Passage

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In brief

  • The Florida State Senate passed Senate Bill 314 unanimously on Friday, positioning Florida to join other states with local stablecoin regulations.
  • Florida Governor Ron DeSantis plans to review the legislation in its final form once it’s “delivered to his desk,” a spokesperson told Decrypt.
  • The bill folds stablecoins into Florida’s existing anti-money laundering laws by defining them as a form of “monetary value.”

Florida moved closer to becoming the latest U.S. state to enact stablecoin rules at the local level, following the State Senate’s passage of Senate Bill 314 on Friday.

Sam Armes, founder and President of the Florida Blockchain Business Association, described Senate Bill 314’s passage as a historic moment on X. He believes the bill will be signed by Florida Governor Ron DeSantis, a crypto advocate, within the next 30 days.

A spokesperson for DeSantis told Decrypt that the governor has not yet received the bill from the legislature. “Once delivered to his office, he will review it in its final form,” she added.

The measure, which passed unanimously on Friday, folds stablecoins into the Sunshine State’s existing regulations by explicitly defining them as a form of “monetary value” under the Florida Control of Money Laundering in Money Services Business Act.

The legislation meanwhile authorizes the Florida Department of Financial Services to accept approved stablecoins for payments, such as state-issued licenses and taxes, alongside a pilot program to study how the government could utilize stablecoins itself.

Republican Florida State Senator Colleen Burton told lawmakers that the legislation aims to integrate state oversight with federal guidelines, as established under a dual-track system in the GENIUS Act—a federal framework for stablecoins passed into law last year.

“It’s important that we do this today,” she said, noting that the bill would allow Florida’s Office of Financial Regulation to become the primary regulator of payment systems using stablecoins.

In many ways, Florida’s framework for stablecoins mirrors rules pertaining to traditional transactions. That includes requiring so-called money services businesses to maintain records of stablecoin transactions valued at more than $10,000, which is already the case for other digital assets defined as “virtual currencies.”

In 2019, Texas became the first state to recognize stablecoins as a form of “monetary value” regarding money transmission rules, according to analysis from law firm Paul Hastings. In 2023, additional rules were adopted under that state’s Money Services Modernization Act.

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Leading Lawyer Dr. Hassan Elhais on Protecting Your Legal Interests in the UAE

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Introduction

Legal protection of the interests in the UAE cannot be achieved through the reactive legal response to the occurrence of disputes. It requires active approaches, full knowledge of the laws in the UAE, and the services of a legal advisor, able to foresee issues and turn them into critical problems. Dr. Hassan Mohsen Elhais is a lawyer who has established a good reputation in Dubai as one of the most successful lawyers in the state because of his work over the last 18 years of assisting clients in safeguarding their legal interests in personal, business, and family issues. His strategy involves both proactive legal planning and assertive representation in cases where a disagreement is inevitable so that the interests of the clients are not compromised at any point.

Knowing the UAE Legal Environment.

The UAE legal system has distinctive peculiarities that cannot be passed without particular knowledge. This system brings a combination of civil law and the Islamic Shariah law to establish a legal system that does not work the same as the common law jurisdictions that many expatriates are used to. Such a two-sided character implies that legal protection of interests is impossible without consideration of the written laws and regulations, as well as the interpretation and application of these laws in court.

The high academic qualification of Dr. Hassan Elhais, a Ph.D. in Law with a specialization in the civil law and Shariah principles at Monofiya University, offers him the overall knowledge of covering the interest of the clients in both the systems. Thousands of cases in various areas of the law have added to this knowledge, and his 19 years of actual experience have added to this insight.

The UAE has undergone a fast rate of legal development and modernization especially in the past years when the country has enacted new laws in order to diversify its economy and to invite foreign investment. These constant developments imply that in order to secure legal interests, it is necessary to keep pace with changes in the legislation, new regulations, and new judicial interpretations. Constant professional growth is another strength of Dr. Elhais as he has enrolled in training courses with the Law Society of England and Wales and International Association of Lawyers.

Securing Business and Commercial Interests.

In the case of businesses in UAE, safeguarding of commercial interests involves detailed legal measures, which deal with contractual association, regulatory conformity, intellectual property, employment issues and dispute solution systems. Dr. Hassan Elhais has positioned himself as one of the most successful commercial attorneys in Dubai by offering businesses proactive legal advice that allows a reduction of risk and safeguard of business by protecting business interests.

His approach to protecting business interests begins with careful contract drafting and review. Well-drafted contracts are the foundation of protecting commercial interests, clearly defining rights, obligations, remedies, and dispute resolution procedures. The skills of drafting comprehensive statements of claim and legal documents gained by Dr. Elhais will allow him to offer the highest level of protection to business agreements and make them enforceable in accordance with the UAE law.

In case of commercial disputes between businesses, Dr. Elhais uses strategic litigation and arbitration strategies that safeguard the business relations and finances of the clients. His books on UAE Commercial Fraud Law, Consumer Protection Law and Competition and Commercial Monopoly published by Lexis Middle East manifest the profound understanding of the commercial legal principles in the field of business protection in the UAE.

Nick Dorney, who runs a business in Dubai requiring complex corporate legal contracts, notes that Dr. Hassan Elhais “has undoubtedly proven to be the best legal expert we have encountered here” and emphasizes that his work provides “bulletproof corporate legal contracts that are customized to our unique needs.” This customization makes sure that legal protection is adjusted to particular business situations as opposed to using standardized templates which might have gaps.

Protecting Family Law Interests.

The family law in the UAE touches upon highly personal spheres when the safeguarding of legal interests serves as a direct influence on the lives of people, as well as on their relations with children and their financial well-being. Dr. Hassan Elhais has earned recognition as one of the best family lawyers in Dubai and Abu Dhabi by providing comprehensive protection of clients’ family law interests in divorce proceedings, child custody disputes, financial support matters, and inheritance planning.

His expertise in both Shariah law and civil law enables him to protect family law interests under whichever framework governs a particular case. In the case of Muslim clients, it is important to know how the Shariah principles will be applied to the divorce, custody and inheritance to safeguard the legal rights. To the non-Muslim expatriate, the civil law system and how the UAE courts treat the family issues needs special skills which Dr. Elhais has acquired after years of special practice.

Dr. Elhais has the ability to defend the interests of the clients especially where international elements are involved. Most of the family law cases in the UAE are those that relate to spouses of two or more nationalities, assets that are in a different country or children who are affiliated to two or more jurisdictions. In the development of the law in such a complex situation, the protection of legal interests is possible only after having knowledge of not only the law of the UAE but also of the foreign treaties, judgments of foreign courts.

The British Embassy, the Australian Embassy, the French Embassy, the Canadian Embassy, and the United States Embassy have included Dr. Elhais in their list of recommended lawyers because they believe that he can defend the family law interests of their nationals in the UAE. These foreign missions frequently seek the consultation and law opinion of Dr. Elhais on family issues of their nationals, which shows institutional confidence in his expertise.

Abed Awad, a 15-year employee of Dr. Elhais, says that he is the best family litigator in the UAE and emphasizes his competence, professionalism, knowledge base, analytical and strategic thinking, and honesty. This is a combination of skills that is required to safeguard the family law interests both by negotiations and litigation where needed.

Criminal Law Interests Defense.

The UAE criminal charges may be extremely devastating to personal liberty, career reputation, and opportunities of the future. Defending legal interests under criminal accusations means acting in the present moment, planning the defense strategy, and overall knowledge of the criminal processes in the UAE. The fact that Dr. Hassan Elhais belongs to The European Criminal Bar Association (ECBA) demonstrates his professionalism in the field of criminal defense.

His approach to protecting clients’ criminal law interests begins with thorough analysis of the charges, evidence, and procedural compliance. Identifying weaknesses in the prosecution’s case, procedural violations, or opportunities for negotiation are critical components of protecting legal interests in criminal matters. Dr. Elhais’s publications on UAE International Crime Law, Money Laundering and Terrorist Financing, and Fraud, Theft and Tax Evasion demonstrate his deep knowledge of the criminal legal framework.

Acquiring Inheritance and Estate Planning Interests.

The UAE has complicated legal structures in regard to inheritance that differ according to religion, nationality, and the place of assets. Preservation of interests in inheritance is a delicate matter that should be carefully planned in life and advocated in an effective strategy even when a dispute arises after death. Dr. Hassan Elhais has also dealt with many cases of inheritance of both Muslims and non-Muslims with a full coverage of the estate planning and inheritance interest of the clients.

In the case of non-Muslim expatriates, the most common form of protecting their interests in inheritance is to create wills that will follow the provisions of the UAE law, yet reflect the desire of clients concerning the distribution of their assets. The advanced skills of Dr. Elhais in creating complicated legal wills can guarantee that testamentary documents will be considered and be enforced by the UAE courts where the interests of beneficiaries are guaranteed and the intestacy regulations that might not correspond to the intention of clients are avoided.

In the case of Muslim clients, knowing the application of Shariah rules of inheritance and how these can be used in the estate planning documents is crucial in the preservation of the interest of the family members. The Shariah training that Elhais studied in specialism allows him to guide Muslim clients on the methods that can be used to achieve the desired outcomes in the Shariah system and ensure the targeted beneficiaries are fully safeguarded.

Protecting Property and Real Estate Interests

Real estate transactions and property ownership in the UAE involve significant financial investments that require legal protection. Dr. Hassan Elhais has established himself as one of the best property lawyers in Dubai by protecting clients’ interests in property purchases, sales, development projects, and property disputes.

His approach to protecting property interests begins with thorough due diligence and contract review. Reviewing title documents, checking developer credentials, sale and purchase agreements and determining the legal implications likely to emerge prior to the completion of transactions shield the clients against expensive problems that may occur once they have been purchased.

In the case of property matters, Dr. Elhais offers strategic representation to guard the rights of property ownership, enforce a contract, and damages in instances where developers or other parties do not perform their duties. His background in the construction law issues allows him to resolve the litigations that might involve the project delays, construction defects, and the default of the developers that may jeopardize the property interests.

Cross-border Protection Expertise International.

Most of the UAE legal interests have an international aspect which needs cross-border legal skills. The international legal recognition and experience of Hassan Elhais offers special abilities to defend the legal interest in several jurisdictions.

The fact that he has been hired as a sole or joint expert on UAE laws before foreign courts in the United Kingdom, the United States, Canada, Switzerland, Australia, France, Singapore, and other countries on a regular basis indicate his skills in safeguarding the interests of clients internationally. These appointments of experts include giving the foreign courts some authoritative advice on the application of the UAE laws to the current cases before the hearing, so that the interests of the UAE legal system are well presented and safeguarded in the foreign process.

Dr. Elhais has been a member of the panel and speaker at international legal conferences in Portugal, Austria, South Africa, Hong Kong, Japan, Italy, United Kingdom, Denmark, and the Czech Republic. These global interactions introduce him to the global community of legal professionals and makes him abreast of the international best practices in protecting legal interests on an international basis.

Recognition and Awards

The legal protection of the interests of clients has won Dr. Hassan Elhais over 30 awards and accolades from reputable organizations. These are numerous awards of the year of Legal Consultant of the Year by Corporate LiveWire, ACQ5 global awards, and others. The fact that his Band 1 rating in Family/Matrimonial matters with High-Net-Worth individuals by Chambers and Partners has been secured three years in a row is an expression of his success in defending high stakes legal interests.

He has been named on several occasions as a Lexology Legal Influencers program because of his thought leadership, which speaks to the importance of his analyses to legal professionals in the Asia-Pacific region. His writings in Lexis Middle East and more than 300 articles in local and international media indicate that he takes the responsibility of educating the clients and masses on the need to safeguard legal interests in the UAE.

Conclusion

The legal protection of interests in the UAE demands holistic competence, tact, global acumen, and uncompromising loyalty towards client achievement. His blend of high level academic qualification, long period of practical experience, international reputation, record of successful clients, and strategic orientation make him the best to be used by individuals and businesses in the UAE who would want to have their legal interests safeguarded.

Dr. Elhais will be defending the legal interests of clients in the most professional excellence, transparency, and commitment. To have holistic legal protection in the UAE, you may book an appointment with Dr. Hassan Elhais at professionallawyer.me.

How does Dr. Hassan Elhais protect business interests in the UAE?

In his 19 years of experience, Dr. Elhais defends business interests by drafting and reviewing contracts, litigation and arbitration strategies, regulatory compliance advice, and broad knowledge of the UAE commercial law, banking law and fraud prevention.

What makes Dr. Hassan Elhais effective at protecting family law interests?

Dr. Elhais is a Shariah and civil lawyer, a specialist in international family law, who prepares post-nuptial agreements and wills that are compliant with the family law of the UAE, and is referred to by various foreign embassies to ensure the family law interests of their nationals are safeguarded in the UAE.

Can Dr. Hassan Elhais help protect my interests if I’m facing criminal charges?

Yes, Dr. Elhais offers strategic criminal defense by conducting a detailed case analysis, revealing the weaknesses of the procedures, creating the overall defense strategies, and addressing collateral damages such as travel bans and reputational damage as a member of the European Criminal Bar Association.

How does Dr. Hassan Elhais protect inheritance and estate planning interests?

Dr. Elhais prepares non-Muslim wills that comply with the regulations of the UAE, provides advice on Shariah inheritance regulations to Muslims, represents clients in inheritance cases, and facilitates cross-border estate planning to provide full protection of the interests of beneficiaries in more than one jurisdiction.

What is Dr. Hassan Elhais’s approach to protecting legal interests?

Dr. Elhais is a preventive legal planner and aggressive advocate where needed, communicates clearly, devises creative solutions, takes into account legal and practical business considerations, and has international expertise in cross-border protection of client interests.







Binance slams $1.7bn Iran probe from US Senators, calls reports ‘defamatory’ – DL News

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  • US senators last month called for an investigation into Binance.
  • The probe comes after newspaper reports claimed the exchange laundered money for Iranian entities.
  • Binance’s legal team has pushed back.

Binance’s lawyers have slammed allegations that the firm helped Iranian entities launder money on its platform, and called evidence cited in a probe by US Senators “defamatory.”

Last month, the Committee on Homeland Security and Governmental Affairs urged Binance to provide key records regarding alleged connections between the exchange and terrorist organisations working on behalf of Iran.

The Committee’s probe came after Fortune, The Wall Street Journal, and The New York Times, cited anonymous sources and internal documents in reports claiming Binance ignored internal warnings that sanctioned entities used the platform to launder nearly $2 billion.

“The recent reporting on which your inquiry relies, however, is demonstrably false, unsupported by credible evidence, and defamatory in several material respects,” Binance’s legal team said in a Friday statement addressed to Connecticut Senator Richard Blumenthal of the Democratic Party, who’s helping lead the probe.

DL News reached out to both Binance and the law firm representing the company for comment.

The letter

In February, over a dozen US senators signed a letter written by Senator Blumenthal that said Binance “appears to have ignored warnings and recommendations to prevent Iranian money laundering schemes.”

The letter cited newspaper reports alleging Binance ignored internal warnings that sanctioned entities used the platform to launder nearly $2 billion in funds.

The news reports also alleged that company partners Hexa Whale and Blessed Trust operated as intermediaries on behalf of Iranian government entities.

Binance’s legal team said that “a rigorous compliance program” and “strict Know Your Customer” procedures prohibit users residing or located in Iran on the platform. It also said that Binance has reduced exposure to Iranian exchanges by over 97%.

Previous failures

Binance has been in hot water over Iran before.

Back in 2023, the exchange admitted it had failed to prevent criminals, sanctioned entities, and other bad actors from laundering billions of dollars in dirty money, according to court filings.

Iran was among the sanctioned entities, Department of Justice investigators said.

The DOJ fined the company $4.3 billion and ordered a three-year third-party monitor to oversee its operations.

Binance’s CEO at the time, Changpeng Zhao, pleaded guilty to violating US laws against money laundering charges and served four months in prison in 2024.

US President Donald Trump pardoned Zhao in 2025.

Mathew Di Salvo is a news correspondent with DL News. Got a tip? Email at mdisalvo@dlnews.com.

Kraken’s xStocks Launches Unified Liquidity Layer for Tokenized Stocks

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The new platform, xChange, enables cross-chain trading of over 70 tokenized stocks across Ethereum and Solana.

Kraken’s tokenized stock platform, xStocks, has unveiled xChange, a multi-chain execution layer for tokenized equity trading. The new platform enables cross-chain transactions on Ethereum and Solana, and supports over 70 tokenized stocks directly on-chain, according to an announcement from Kraken today, March 5.

By supporting cross-chain trading, xChange aims to boost liquidity and accessibility, allowing traders to operate seamlessly across two largest blockchain networks in DeFi by total value locked.

Ethereum and Solana, the two blockchains supported by xChange, have a DeFi TVL of approximately $58.6 billion and $8.2 billion, respectively, per data from DefiLlama.

The new execution layer for xStocks operates 24/5, per the announcement. Backed, the developer of xStocks, originally launched the tokenized equities alongside crypto exchange Kraken last June. By August, the platform reported $500 million in total on-chain transaction volume, while today’s announcement says that number has reached over $3.5 billion.

Kraken acquired Backed in December, as The Defiant reported. xStocks are available to traders outside of the United States, giving exposure to tokenized versions of U.S. equities that are backed 1:1 by underlying shares, today’s announcement notes.

This article was generated with the assistance of AI workflows.

How Accounting Software for Project Management Connects Execution with Financial Accuracy

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“We’re under budget, right?”
“Depends… which spreadsheet are you looking at?”

“Did we factor in the third-party consultants yet?”
“Nope, still waiting on finance to send over the numbers.”

If that sounds familiar, you’re not alone.

For project-based businesses, this kind of back-and-forth isn’t just frustrating—it’s risky. When project managers, finance teams, and leadership operate on different versions of the truth, decision-making slows down, margins slip, and accountability becomes fuzzy.

This is exactly why modern organizations are turning to project management accounting software—not as another tool in the stack, but as the backbone for aligning execution with financial performance.

Let’s unpack what makes accounting software project management platforms so effective—and why they’re essential for maintaining control in complex, multi-project environments.

 

Why Traditional Systems Fall Short

Most businesses rely on standalone project management tools and generic accounting software. While these systems are robust individually, they rarely talk to each other in real-time. Project managers lack visibility into financial data, while accountants struggle to attribute costs and revenues accurately to specific projects.

The result? Misaligned forecasts, missed deadlines, cost overruns, and lost opportunities.

An integrated project management and accounting software eliminates this disconnect. It brings both functions under one umbrella, ensuring everyone is on the same page—whether it’s the CFO monitoring budgets or a project lead tracking progress.

 

Key Features That Matter

A capable project cost accounting software does more than automate invoices. It helps answer crucial questions:

  • Are we on track with the budget?
  • What’s the actual vs. planned expenditure per task or resource?
  • How are indirect costs being allocated across projects?
  • Which projects are most profitable?

Some core features to look for include:

  • Time & Expense Tracking: Associates employee hours and expenses directly with projects to give a real-time view of financial health.
  • Cost Codes & Budgeting: Lets you assign cost codes to activities and create detailed budgets for accurate cost control.
  • Revenue Recognition: Automates recognition based on milestones or delivery, ensuring compliance with accounting standards.
  • Forecasting & Variance Analysis: Compares forecasted numbers with actuals to identify leaks before they turn into losses.

Solutions like Kytes PSA + PPM ensure these features are not just available but seamlessly integrated, allowing teams to focus on delivery without compromising financial oversight.

 

Who Needs Project Management Accounting Software?

This kind of software is not limited to large enterprises. Whether you’re a consulting firm, an IT services provider, or a product-based business, if your success depends on managing multiple deliverables and margins—project cost accounting software is a must.

Particularly for businesses handling client projects, subcontracts, and international teams, the ability to standardize financial processes and gain clarity into profit margins can be a game-changer.

 

From Control to Confidence

When teams work in silos, financial decisions become reactive. But when operations and finance converge through project management and accounting software, businesses shift from reactive control to proactive confidence.

Imagine knowing in advance that a project is likely to exceed budget, and having the time to adjust scope or reallocate resources. Or forecasting revenue more accurately based on project progress, not just invoices. This kind of agility is not just helpful—it’s essential.

Tools like Kytes go one step further by offering customizable views for finance heads, delivery leads, and CXOs, enabling informed decisions at every level of the organization.

 

Conclusion

In a world where project success depends on both operational efficiency and financial discipline, relying on disconnected systems is no longer viable. Project management accounting software empowers organizations to gain visibility, ensure accountability, and drive profitability—across every project.

Kytes offers a unified PSA platform that seamlessly blends project management with financial controls. If you’re ready to move beyond spreadsheets and silos, schedule a demo to explore how Kytes can help your business deliver with precision.

 

 







Trump releases cybercrime strategy to protect crypto in a post-quantum world – DL News

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  • US President Trump has debuted a “National Cyber Strategy.”
  • The strategy mentions advancing the security of cryptocurrencies.
  • President Trump has signed a number of crypto-friendly executive orders.

US President Donald Trump wants to support the security of cryptocurrencies — including in a post-quantum world.

President Trump released the “National Cyber Strategy” on Friday, telling Americans he would make sure the US remains “unrivaled in cyberspace.”

“Every American should take practical steps to protect themselves and their families in cyberspace, but America’s citizens do not stand alone,” the document from the White House reads.

“President Trump has demonstrated time and again that he is determined to make Americans secure and prosperous by harnessing all of our comparative advantages.”

The strategy comes as the biggest players in the crypto industry argue about whether major protocols like Bitcoin should prepare for a time when quantum computers can crack their security.

Post-quantum world soon?

The White House document says that the Trump Administration will “build secure technologies and supply chains that protect user privacy from design to deployment, including supporting the security of cryptocurrencies and blockchain technologies.”

“We will promote the adoption of post-quantum cryptography and secure quantum computing,” it adds.

Quantum researchers have warned that a time will come when Bitcoin’s software — which underpins the biggest and strongest computer network in the world — will need to be upgraded to deal with quantum computing.

Quantum computers may still be theoretical, but some have argued that their development could arrive unexpectedly — just like advances with artificial intelligence.

Some in the crypto industry, like Bitcoin treasury Strategy co-founder Michael Saylor, have said that while developers should prepare, the warnings as overblown.

But the community behind Ethereum, the protocol behind the second biggest cryptocurrency by market value, is already pushing ahead: the project’s co-founder, Vitalik Buterin, in February proposed a “quantum roadmap” to protect the blockchain from encryption-cracking computers.

Pro-crypto executive orders

The strategy came just as Trump signed an executive order Friday to combat cybercrime.

Trump, who campaigned on a ticket to help the digital asset industry, has signed a number of executive orders with the crypto space in mind.

Last year, the president signed an executive order to establish a Bitcoin strategic reserve.

The US government is not buying more Bitcoin — at least for now — and the reserve contains crypto confiscated mostly from crimes.

And in one of the first actions since taking office, Trump signed an order demanding a sweeping major overhaul of crypto policy — including the banning of central bank digital currencies, or CBDCs.

Mathew Di Salvo is a news correspondent with DL News. Got a tip? Email at mdisalvo@dlnews.com.

Revolut, Zerohash Pursue US National Banking Charters

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The global fintech applied to become a federally regulated, FDIC-insured bank, while the crypto infra firm is looking to become a national bank trust.

Two crypto-adjacent firms just applied to be federally regulated banks in the United States.

Today, Revolut — a UK-headquartered, retail-focused global neobank that offers crypto trading — announced it has officially filed for a national bank charter in the U.S. as part of its strategic push to expand financial services in the United States.

Just yesterday, March 4, digital asset infrastructure company, zerohash, announced that it has applied for a national trust bank charter in the U.S.

Both firms applied to the U.S. Office of the Comptroller of the Currency (OCC), and the charters would let them operate across all U.S. states. Revolut is also applying to the Federal Deposit Insurance Corporation (FDIC), as it seeks to be full-service, federally regulated bank in the U.S.

Revolut also announced today that it has appointed a new U.S. CEO, Cetin Duransoy.

Zerohash, which specializes in settlement services for digital assets and stablecoins, is seeking an OCC National Trust Bank license, which would restrict the firm to custody and trust services. The firm’s chief legal and compliance officer said in the release:

“Applying for a National Trust Bank Charter is a natural next step in offering robust global licensing coverage and continuing to expand our product offering.”

Zerohash’s press release also notes that the trust bank charter will let the firm “expand its services offerings under a federal framework, including those activities that fall under the GENIUS Act.”

A Growing Trend

Though it’s generally known as a fintech and neobank, Revolut has rapidly expanded its offerings into digital assets, adding crypto trading as early as 2017.

The trend of crypto-native and crypto-friendly firms pursuing traditional banking licenses is driven by a dual need for regulatory compliance and the desire to expand service offerings within the traditional financial system.

Since last year, several major crypto firms — including Ripple, Paxos and Circle — applied for national bank and national trust bank charters in the U.S.

Last week, Crypto.com received conditional approval from the OCC to establish its national trust bank, as The Defiant reported.

This article was generated with the assistance of AI workflows.

Ripple-linked token slips as traders watch $1.35 support

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XRP edged lower after a technical breakdown earlier in the session, with buyers now attempting to stabilize price near the $1.35 support area.

News Background

  • XRP has remained under pressure in recent sessions as the token trades within a broader corrective structure that has persisted since late February.
  • Price action has largely been driven by technical positioning rather than new catalysts, with traders focusing on key support and resistance levels as the market consolidates.
  • Institutional flows have been mixed during the period. XRP-linked investment products recorded moderate outflows earlier in the week while derivatives activity declined slightly, suggesting reduced speculative participation as the market digests recent volatility.

Price Action Summary

  • XRP slipped from $1.3666 to $1.3554 over the 24-hour session
  • The token traded within a relatively tight 1.9% range
  • A sharp volume spike drove price briefly down to $1.3473
  • Price later recovered toward $1.35–$1.36 as buyers stepped in

Technical Analysis

  • The most notable move occurred when XRP briefly broke down toward $1.347 during a surge in trading volume, confirming selling pressure below the $1.36 area. That move reinforced $1.36–$1.37 as a short-term resistance zone after repeated rejection attempts.
  • Despite the breakdown, buyers quickly defended the $1.35 region, triggering a modest rebound and forming a sequence of higher lows on shorter timeframes. This suggests dip demand remains active even as the broader trend remains weak.
  • Price is now compressing between support near $1.35 and resistance around $1.36–$1.37, a tightening range that often precedes a directional move once liquidity builds.

What traders say is next?

  • Market participants are focused on whether XRP can maintain support near $1.35.
  • If the level holds, the token may continue consolidating before attempting another push toward $1.36–$1.37 resistance, where a breakout could reopen upside toward the $1.40 region.
  • A decisive break below $1.35 would shift attention toward deeper support near $1.30–$1.32, signaling the corrective trend may extend further.

Bitcoin dip may not be over as whales sell into retail buying — a bearish signal

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The smart money allocating to bitcoin bought the panic last week. Then it sold the rally to everyone else.

Whales holding between 10 and 10,000 bitcoin accumulated heavily between Feb. 23 and March 3, when bitcoin was trading between $62,900 and $69,600, according to Santiment.

That window covered the worst of the Iran war sell-off and the early stages of the recovery. When bitcoin hit $74,000 on Thursday, those same wallets started taking profit and have since offloaded roughly 66% of what they’d just bought.

Wallets holding less than 0.01 BTC have been steadily increasing their positions as bitcoin slipped back below $70,000 on Friday and into Saturday. That’s the classic pattern Santiment flagged as a warning sign. “When retail buys while whales sell, it typically signals that the correction is not yet over,” the firm said in a weekend note.

Glassnode data compounds the problem. Around 43% of bitcoin’s total supply is now sitting at a loss with every push higher runs into sellers who have been underwater for weeks or months and are looking to break even rather than ride the rally. That’s exactly what happened at $74,000, as the bounce ran into a wall of supply from both whales taking profit and holders getting out at cost basis.

Meanwhile, the widely-tracked Crypto Fear and Greed Index fell 6 points to 12 on Saturday, deep in “extreme fear” territory. That’s one of the lowest readings since the October crash.

The broader picture is a market that keeps producing impressive intra-week moves that go nowhere on a monthly basis. Bitcoin touched $60,000 on Feb. 6. It touched $74,000 on March 5. It’s now at $68,000, roughly where it was three weeks ago.

The volatility is enormous but the net movement is close to zero, which is what happens when every rally gets sold by holders looking to exit and every dip gets bought by retail chasing a bounce.

That dynamic resolves in one of two ways. Either the selling exhausts itself, the underwater supply gets absorbed, and bitcoin breaks out above $74,000 with conviction. Or the buying exhausts itself, retail runs out of capital, and the $60,000 floor gets tested for real.

The whale behavior this week suggests the large holders are betting on the latter.