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Binance Founder Denied Claims That He Is Involved in a Deal with the Trump Family

Binance founder Changpeng “CZ” Zhao has denied claims that he is involved in a deal with the Trump family for any stake in Binance US or that he is seeking a presidential pardon. 

The Wall Street Journal (WSJ) recently reported that Trump’s family was in talks to buy a stake in Binance US while CZ allegedly pushed for a pardon after his 2023 guilty plea.

CZ responded to the report on X (formerly Twitter), saying, “Sorry to disappoint. The WSJ article got the facts wrong.” He claimed that WSJ and other media outlets asked hundreds of people if they could confirm the story. “They probably asked hundreds of people to have 20 people reach out to me. In essence, they tried hard to make a story to report.”

CZ said he did not make any deal for a pardon. | Source: X

Landmark Stablecoin Bill Advances in Senate Banking Committee

The Senate Banking Committee advanced landmark stablecoin legislation Thursday in a major victory for the ascendant cryptocurrency industry, despite strong objections from top Democrat Elizabeth Warren.

The 18-6 vote puts a priority of President Donald Trump on a fast track in the full Senate. The bipartisan bill would govern privately issued, dollar-based stablecoins, which the industry claims will enable cheaper and faster transactions across the globe for anyone with a smartphone.

Raoul Pal, Tom Lee See Bitcoin Capturing Major Share Of $500 Trillion Global Store Of Value Market

Macro strategist Raoul Pal and Fundstrat co-founder Tom Lee have analyzed Bitcoin's role in the global store value market worth $400 to $500 trillion.

In a deep-dive discussion on March 13, Pal and Lee outlined why Bitcoin is still in its early stages of growth, with the potential to capture a significant portion of the $400 to $500 trillion global store-of-value market.

"If you just take two factors—the number of wallets and activity per wallet—you can explain over 90% of Bitcoin's growth," Lee noted, comparing it to how social media platforms created massive value.

Coinbase to Suspend $FLOKI, $TURBO, $GIGA  Trading in New York

Last night, Coinbase announced its intention to delist three popular tokens – Floki Inu ($FLOKI), Turbo ($TURBO), and GigaChad ($GIGA) – for its New York users, increasing ongoing concerns over regulatory scrutiny and the future of meme coins in the U.S. market.

Although Coinbase has yet to explain this development, many have speculated that increasing pressure from state regulators and ever-evolving compliance measures for meme tokens are key factors.

Coinbase’s decision has sent shockwaves through the meme coin community and has caused investors to fret over broader implications for accessibility and liquidity.

Treasury Urged to Dismiss Trump’S Proposal for a Strategic Bitcoin Reserve

A top congressional Democrat is pushing back against President Donald Trump’s plan to establish a strategic Bitcoin reserve, calling it fiscally irresponsible and riddled with conflicts of interest.

On Thursday, Rep. Gerald E. Connolly, the Ranking Member of the House Oversight and Government Reform Committee, sent a letter to Treasury Secretary Scott Bessent urging the department to halt all efforts to create the cryptocurrency reserve.

Connolly warned that the initiative primarily serves to enrich Trump and his financial backers rather than benefiting the American public.

“Such a reserve provides no discernible benefit to the American people but would significantly enrich the President and his donors,” Connolly wrote.

Bitcoin Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on Thursday (Mar 13) was $143.30 million. The total net asset value of Bitcoin spot ETFs is $89.60 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.62%.

The Bitcoin spot ETF with the highest net inflow on Mar. 13 was iShares Bitcoin Trust, with a net inflow of $45.75 million. While the Bitcoin spot ETF with the highest net outflow on Mar. 13 was Fidelity Wise Origin Bitcoin Fund, according to SoSoValue.