Bitfarms Completes Acquisition of Stronghold Digital Mining as It Eyes AI Demand
Bitcoin mining giant Bitfarms has completed its acquisition of Stronghold Digital Mining, the company said on Monday. The Canadian mining company said in its announcement that the acquisition would help it focus on artificial intelligence by using the new site to optimize its data warehouses and sell space to AI firms. Bitcoin miners are increasingly homing in on AI. Both industries require huge amounts of energy and miners are able to use their existing infrastructure to cater to the demand for AI. “With Stronghold’s portfolio of power assets, combined with our operational expertise and balance sheet strength, we are well positioned to create long-term value for our shareholders by executing on our U.S. strategy and developing high-performance computing/AI business geared for scale,” Bitfarms said in a statement. Toronto-based Bitfarms last year said it would buy Stronghold Digital in a deal it valued at $175 million, including $125 million in equity value. Analysts told Decrypt at the time that the deal would help boost Bitfarms valuation and make it a more challenging acquisition target for its rival Riot, which has been trying to purchase the firm since 2023. In Monday’s announcement, Bitfarms said it had secured a 1.1 GW growth pipeline in Pennsylvania, including current power generation capacity, grid import capacity and future import capacity. Bitfarms has 15 Bitcoin data centers in Canada, the U.S., Paraguay, and Argentina. Edited by James Rubin Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Your Email Read More
Canary Capital Files Application With SEC for SUI-Based ETF
Canary Capital filed Monday with the Securities and Exchange Commission to launch a SUI exchange-traded fund, roughly a week after a Trump-linked decentralized finance project added the token to its reserves. “We’ve seen a significant migration of developers into the SUI ecosystem, and given the chain’s speed and efficiency, we believe it is primed for substantial future adoption,” Canary Capital CEO Steven McClurg told Decrypt in an email. The filing comes roughly two weeks after Canary Capital registered a Delaware Trust entity for a SUI ETF—the first step to creating an investment vehicle tracking the altcoin’s price. In its application, the firm did not name the exchange on which its SUI ETF, if approved, would trade. Canary Capital’s push to launch a SUI ETF comes 10 days after the Trump-affiliated World Liberty Fi collective announced its deal with the token’s issuer, Sui Network. Under the agreement, WLFI will add SUI to its reserves and explore product development opportunities with the layer-1 blockchain. The Nashville-based firm’s bid to offer a SUI-based investment vehicle comes amid a broad push by issuers to secure approvals for a variety of digital asset-based investment products from securities regulators that have softened their stances on cryptocurrencies under newly elected President Donald Trump. Amid that increasingly crypto-friendly regulatory environment, asset managers such as VanEck, 21 Shares and Franklin Templeton have filed to offer Solana and XRP ETFs, among other digital asset-based products. Joining the fray, Canary Capital has filed to launch several ETFs based on blue-chip cryptocurrencies and altcoins over the past few months. Last fall, the investment firm submitted S-1 forms for Litecoin and HBAR ETFs to the SEC. And, more recently, the firm has made progress on its petitions to roll out funds tracking the prices of Solana and XRP. SUI was recently trading at $2.36 on Monday, up 5.1% in the past 24 hours, according to digital asset data provider CoinGecko. The token is the 23rd largest cryptocurrency with a market value of more than $7.4 billion, the same data shows. Edited by James Rubin Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Your Email Read More
Bitcoin Held in Reserves? South Korea’s central bank is not inclined to take action.
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The central bank of South Korea is not buying into the (popular) notion of including Bitcoin in its foreign exchange stockpile, citing the cryptocurrency’s extreme price volatility and lack of recognition as a reserve asset under international standards. Related Reading: BTC Bulls Eye Comeback After $10 Billion Liquidation Shakeout—Analyst This cautious approach, according to a report by The Korea Herald, positions the Bank of Korea (BOK) among the increasing number of global financial institutions that are hesitant to incorporate crypto into their strategic holdings. South Korea is not interested in a crypto reserve. Image: Gemini Imagen. BTC Exclusion From Foreign Exchange Reserves Representative Cha Gyu-geun of the National Assembly’s Planning and Finance Committee inquired about the idea of integrating the flagship crypto in the country’s reserves, prompting the BOK to respond. The central bank clarified that it had not reviewed or discussed such a move, and it firmly dismissed the notion as impractical. Officials have noted that BTC does not satisfy the International Monetary Fund’s (IMF) criteria for reserve assets, which include an investment-grade credit rating, usability, and liquidity. The bank considers Bitcoin unsuitable for foreign exchange holdings due to its price fluctuations and vulnerability to market speculation. Increasing Global Interest In Bitcoin Reserves Recent global developments are in stark contrast to the central bank’s cautious stance. It is worth noting that the United States has demonstrated a growing interest in Bitcoin, with US President Donald Trump recently advocating for a strategic Bitcoin reserve. BTC is now trading at $83,141. Chart: TradingView Other nations, such as El Salvador, have already included Bitcoin into their financial blueprint, depending on its long-term promise as a hedge against conventional currency risks. Meanwhile, legislators and supporters of cryptocurrencies at the local scene argue that South Korea should look at using Bitcoin as a means of economic diversification. Stablecoin Proposal Some have even proposed the creation of a stablecoin backed by the national currency, the won, in order to keep South Korea’s competitive advantage in the fast-changing digital asset landscape. Still, the BOK is adamant that other highly liquid and credit stable assets as well as significant trading partner currencies should make up most of the foreign exchange reserves. Related Reading: Bitcoin Paychecks? Brazil Introduces Bill To Legalize BTC Salaries South Korea has been actively in the process of devising regulatory frameworks for cryptocurrency exchanges and digital asset trading, despite its skepticism toward Bitcoin as a reserve asset. Featured image from Gemini Imagen, chart from TradingView Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers. Read More
DOGE Lord Elon Musk Claims US Runs ‘Magic Money Computers’
Elon Musk’s cost-cutting crusade within the U.S. government has purportedly identified computers that can print unlimited amounts of cash, the billionaire claimed in a podcast published on Monday. “I call a ‘magic money computer’ any computer which can just make money out of thin air,” Musk told Sen. Ted Cruz (R-TX) during the “Verdict” podcast sit-down. “They just send money out of nothing.” The computers identified by Musk’s Department of Government Efficiency, or DOGE, exist at multiple agencies, Musk added, pointing to the U.S. Treasury Department, U.S. Department of Health and Human Services, U.S. Department of State, and U.S. Department of Defense. Musk claimed his team has found 14 computers with blank-check authority at the federal government, and suggested that they routinely send trillions of dollars to keep Washington up and running. While Musk’s fixation on government spending has been brewing for months, his latest comments on the government’s payment powers alarmed Bitcoin fans who have long viewed it as a hedge against currency degradation. In 2013, the term “magic internet money” became popularized within Bitcoin’s community after a Reddit user created a viral ad using the slogan. The meme’s crudely illustrated mascot has since become the central focus of Taproot Wizards’ line of Bitcoin-based collectibles. Bitcoin’s portrayal as a store of value has often been linked to money-printing. Generally, Bitcoiners believe a government can create as much cash as it wants, while Bitcoin’s supply will never exceed 21 million BTC due to the way that its software was coded. The sentiment has been echoed by influential figures on Wall Street, including BlackRock CEO Larry Fink. In January, he said Bitcoin appeals to investors fearful of their local currency being debased through government spending, describing Bitcoin as “a currency of fear.” Musk’s attempts to slash costs have contributed to recession fears, as market participants weigh how federal jobs cuts could affect economic growth and consumer spending. However, the accuracy of DOGE’s purported spending cuts has faced scrutiny. As news publications have identified errors in DOGE’s savings claims, the cost-cutting team has progressively made data posted to the DOGE website—where Dogecoin’s logo was recently added and then swiftly removed—harder to decipher, according to The New York Times. Musk has said DOGE will “act quickly to correct any mistakes,” but recent savings claims have been made with less data for identifying which contracts have purportedly been cut. Musk took issue with the government’s spending procedures in the podcast published on Monday, but he acknowledged the magic machines are “not totally wrong” in terms of how much money is being spent compared to what’s reported. In terms of the amount they spend, they’re “probably off” by up to 10% in some cases, he claimed. Edited by James Rubin Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Your Email Read More
Yield-Bearing Stablecoins Will Underpin New Financial Architecture: Coinshift CEO
The lines between stablecoins, lending and banking are blurring, leading to the emergence of new financial primitives, according to Tarun Gupta, CEO of payments and accounting solution Coinshift. In a video interview with Decrypt, Gupta elaborated on his thesis, explaining that this emerging financial architecture would be underpinned by yield-bearing stablecoins like Coinshift’s own csUSDL. “For the past six or seven years, stablecoins have solved one simple use case, which is money,” Gupta explained. “Today, you can basically make the movement of money faster, cheaper and better with stablecoins. However, they’re not solving any kind of yield use case or lending use case.” Stablecoins’ “architecture of promises” Yield-bearing stablecoins, which enable holders to receive passive income while maintaining the stability of fiat-pegged tokens, build on the “architecture of promises” underpinning verifiable on-chain assets, Gupta said. “How I see this is, you need a trust layer, and then you need a transparent layer on top,” he said. “Once you combine these two layers with the power of smart contracts and blockchain, you end up having a lot of convergence between banking, lending and yield mechanisms.” Based on that thesis, Coinshift launched csUSDL. “Can you combine a USDC-like stablecoin from the real world, which is Paxos’ USDL, and then use it to lend on a platform like Aave?” Gupta said. Coinshift’s csUSDL leverages “permissionless market creation system” Morpho Protocol, which enables the creation of verifiable markets, alongside the provably collateralized USDL. The end user, he explained, is “trusting this entire promise of, once you hold csUSDL, you will get one USDL against that, and you don’t need to trust Coinshift for that,” he said. Instead, users place their trust in a protocol, a smart contract layer and ultimately the provably verifiable blockchain. “This financial architecture is way better than what we have in TradFi,” Gupta said. “Once we have this architecture, the thesis is that every other instrument will move on-chain,” he explained, bringing trillions of dollars in value with it. Regulatory clarity For that to happen, as well as the technology being in place, regulations have to catch up. Crypto-friendly jurisdictions like that of Abu Dhabi are “setting examples for other governments on how you can innovate with new technology,” Gupta said. In the U.S. the proposed GENIUS Act is putting the nation on “the right path,” he added, with institutions able to “use a specific stablecoin issuer because it’s regulated and supervised.” The proposed legislation “brings lots of clarity,” while its rules on reserve management “ensures more trust” to end users like institutions, he said, adding that he is “100% confident” that institutions and neobanks will adopt stablecoins. As a result, there’s now “no reason to use the old banking infrastructure to move money,” he said, adding that other fintechs like payroll providers will also migrate to stablecoins. In the future, he explained, “all fintechs will actually outcompete banks with stablecoins like USDC.” SHIFT work In the increasingly crowded stablecoin field, Gupta said, those with “the largest liquidity, deep integrations, and distribution” are poised to win. For its part, Coinshift is focusing on two key areas. First, the launch of its SHIFT reward and governance token, which has two purposes: to reward the TVL of Coinshift’s cs-focused assets, and to regulate its ecosystem. Second, the company aims to grow csUSDL adoption by playing on its yield-bearing proposition. In the short term, that means driving the stablecoin’s market cap to $100 million through “majorly large institutions,” Gupta said. “If you’re already holding USDC, you should think about holding csUSDL, because the risk is on the lowest side, and the secondary liquidity is also very high,” he explained. As well as increasing secondary liquidity “so that people always stay in csUSDL,” the next stage of Coinshift’s plan is to fully integrate csUSDL into its platform, “to offer it to all our clients, especially b2b organizations,” Gupta said. In addition, Coinshift plans to work with DeFi protocols to “have it as collateral or become a reserve for other stablecoins.” Already csUSDL has “15-plus DeFi integrations on day one,” Gupta said, explaining that, “At the end of the day, we’re building this underlying blueprint for making these yield-bearing instruments more liquid in DeFi, and it should be deeply integrated.” Sponsored post by Coinshift Learn More about partnering with Decrypt. Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Your Email Read More
TON Spikes 29% After Telegram Founder Pavel Durov Is Allowed to Leave France
TON, the native token of The Open Network layer-1 blockchain, is up 29% on the week after a surge that followed a change in Telegram CEO and co-founder Pavel Durov’s bail conditions, allowing him to leave France for Dubai. The token, now trading at $3.46, has posted the largest weekly gain among top 100 crypto assets according to data from CoinGecko. The jump represents a sizable increase relative to the performance of the leading crypto assets, Bitcoin and Ethereum, which each moved around 5% on the week—Bitcoin rose to $83,717, while Ethereum dropped to $1,922. “As you may have heard, I’ve returned to Dubai after spending several months in France due to an investigation related to the activity of criminals on Telegram,” Durov posted to 11.9 million subscribers of his personal Telegram channel. “The process is ongoing, but it feels great to be home.” The messaging app founder was indicted on charges in August 2024, alleging that Telegram facilitated criminal activity on the app, and was barred from leaving France as a result. Now, though, investigative judges have allowed him to return to his home in Dubai for a short period of time. While Telegram and The Open Network operate independently, they both originated from the same team—and continue to be closely intertwined. Telegram co-founders Pavel and Nikolai Durov created TON under its original name of Telegram Open Network, but abandoned plans for the chain in 2020 amid regulatory scrutiny. Development continued externally, and over the last two years, Telegram has increasingly embraced TON for capabilities like paying channel operators a share of ad revenue. Earlier this year, Telegram and TON inked an exclusive partnership that ensured Telegram mini apps (including games) with crypto connections must utilize TON moving forward. The Open Network and Telegram made significant strides with crypto user adoption last year, with mini apps helping to spur Telegram monthly active user numbers to more than 950 million as of June 2024. The NOT token of Notcoin, the first play-to-earn game on Telegram, surged to a market cap of nearly $3 billion soon after launch last summer. At its current price, TON is the 16th largest crypto by market cap according to CoinGecko. However, the token is down 58% off its all-time high of $8.25 established last June. TON plunged last August amid news of Durov’s arrest, with many TON project builders protesting and speaking out against the detention. Edited by Andrew Hayward Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Your Email Read More
Huge week for Macro, BNB leads L1s, $6.4B of Crypto Outflows
DecryptVideos & PodcastsInterviews Huge week for Macro, BNB leads L1s, $6.4B of Crypto Outflows InterviewsMar 17, 2025 Interviews Candid chats and deep dives with the biggest names in crypto. View Interviews Partner News Deep Dives University Coins Videos Event Calendar Podcasts News Explorer Bitcoin Halving About Team Disclosures Manifesto Terms of Service Code of Conduct 1000x Member Terms of Service Privacy Policy Contact Careers Jobs SUBSCRIBE TO OUR NEWSLETTER The latest news, articles, and resources, sent to your inbox weekly. © A next-generation media company. 2025 Decrypt Media, Inc. Read More
Here’s a look at the price movements that occurred the last time this pattern appeared.
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Dogecoin has been drifting around the $0.17 price level and has struggled to find bullish direction in a market that remains overwhelmingly bearish. Crypto prices have been bleeding across the board, with Bitcoin and other major assets showing signs of exhaustion. Amid this downturn, a recent development shows that a reversal might be brewing for the meme coin. This recent development is revealed through Dogecoin’s latest weekly close, which closed with a candlestick often associated with trend reversals. Dogecoin Closes Week With Doji Candle: What Does This Mean? Dogecoin closed out last week with a Doji candle, with a long downside wick and a thin body. Interestingly, crypto analyst Trader Tardigrade noted on social media platform X that this Doji weekly close is an interesting development for Dogecoin, considering what happened the last time the meme coin had such weekly close. According to Trader Tardigrade, this specific close could mark the end of the current downtrend and a potential shift toward recovery. Related Reading: Dogecoin Price Stages Bounce From Lower Border Of Second Falling Wedge, New Targets Unlocked? A Doji candle occurs when the open and close prices are nearly identical, reflecting market indecision. As such, the latest weekly Doji candle reflects the indecision DOGE went through last week as the bulls worked to prevent a continued price decline from the previous week. Doji canlde emerge on the weekly chart | Source: Trader Tardigrade on X In the case of the recent Dogecoin Dogi candle, the specific candle has a longer lower wick compared to the upper wick. This is because the week started on a continued decline from the previous week, essentially pushing DOGE to a low of $0.142, which is its lowest point in four months. However, the Dogecoin price eventually closed the week at $0.16818, just a little bit above its open price of $0.16802. DOGE’s History With Doji Candles And Price Surges Trader Tardigrade highlighted that the last time Dogecoin printed a Doji on the weekly timeframe, it preceded a significant price rally. As shown by the DOGE weekly candlestick timeframe chart above, the last time such a Doji happened was in the first week of October 2024. At the time, Dogecoin closed around the week at $0.11. After this close, the meme coin went on a 340% rally that lasted the next eight weeks, reaching a multi-year peak of $0.486. Related Reading: Dogecoin’s 66% Pullback Not Out Of The Ordinary, Here’s What Happened The Last Two Times The question now is whether this setup will play out similarly in the current environment or if the current bearish sentiment will override any chance of a reversal. Unlike October 2024, the current market conditions are overwhelmingly bearish, with crypto assets struggling to find a foothold amid persistent selling pressure. While this Doji weekly candlestick alone isn’t enough to confirm an uptrend, the bullish outlook is that Dogecoin replays its previous performance. A similar 340% rally from the latest Doji close of $0.16818 will put DOGE at a price target of $0.75. At the time of writing, Dogecoin is trading at $0.1740. DOGE trading at $0.17 on the 1D chart | Source: DOGEUSDT on Tradingview.com Featured image from Unsplash, chart from Tradingview.com Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers. Read More
Standard Chartered Predicts Bitcoin Surge with Proposed Crypto Reserve Plan (imported from Binance News)
According to PANews, Standard Chartered analysts have suggested that a proposed “crypto reserve” plan by U.S. President Donald Trump could potentially drive Bitcoin prices to $500,000 if successfully implemented. This prediction highlights the significant impact such a policy could have on the cryptocurrency market.
Strategy’s Latest Bitcoin Acquisition Marks Smallest Purchase on Record (imported from Binance News)
According to Cointelegraph, Strategy, the largest public corporate holder of Bitcoin, has announced its smallest Bitcoin acquisition to date. On March 17, the company disclosed the purchase of 130 Bitcoin (BTC) for approximately $10.7 million, translating to an average price of about $82,981 per BTC. This acquisition was funded through the “STRK ATM,” a new initiative by Strategy aimed at raising up to $21 billion to further invest in Bitcoin.
This recent purchase marks the smallest acquisition since Strategy’s initial investment in Bitcoin, which involved buying 21,454 BTC for $250 million in August 2020. With this latest addition, Strategy and its subsidiaries now hold a total of 499,226 BTC. The aggregate purchase price for these holdings is approximately $33.1 billion, with an average purchase price of around $66,360 per BTC, including fees and expenses. The company is now 774 BTC away from reaching a milestone of 500,000 BTC in its holdings.
Despite Bitcoin’s price dropping to multimonth lows below $80,000 last week, Strategy’s recent acquisition is notably smaller than its previous purchases. The smallest prior acquisition was 169 BTC in August 2024. In 2025 alone, Strategy has acquired a total of 51,656 BTC across seven announced transactions. The company’s Bitcoin yield currently stands at 6.9%, which is significantly below its target of 15% for the year 2025. This story is still developing, and more details will be provided as they become available.
