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South Korea's People Power Party plans to hold a public hearing on repealing the country's virtual asset tax, Digital Asset reported.

ITcen Global, the operator of the Korea Gold Exchange, joined a won-backed stablecoin distribution consortium led by Hana Financial Group in January, according to an exclusive report from SBS Biz. The move is widely seen as a step toward collaboration on a gold-linked stablecoin. The consortium already includes affiliates of SK, Lotte, Hanwha, Hyundai Card, Modetour, and Eugene Group, with SK Telecom, Lotte Mart, and Lotte Chilsung Beverage also considered likely participants.

Song Eon-seok, floor leader of the People Power Party, has criticized the South Korean government's plan to tax income from virtual assets starting in January 2027, arguing the policy is unfair and inconsistent with U.S. policy, Edaily reported. During a meeting with the heads of the country's five largest crypto exchanges, Song said there is a widespread view that it is inequitable to proceed with the crypto tax while the financial investment income tax is being abolished. He also noted that since South Korea already imposes a value-added tax (VAT) by treating virtual assets as commodities, adding an income tax could create issues of double taxation.

Tether, the issuer of the world's largest stablecoin USDT, has paused a $20 billion fundraising plan to undergo its first-ever financial audit, Bloomberg reported. According to the report, potential investors and financial institutions have consistently demanded greater financial transparency from Tether during the fundraising process, though some investors are reportedly still willing to invest even before the audit is complete. Tether recently announced it had selected one of the 'Big Four' accounting firms to conduct an independent audit of its financial statements but did not disclose the firm's name or a specific timeline. The decision to resume the funding round, which was initiated late last year with a target of raising $15 billion to $20 billion, is expected to depend on the audit's results. The fundraising was originally slated to conclude by the end of 2025 but has faced multiple delays.

Crypto market maker Jump Trading has responded to a fraud lawsuit from Terraform Labs, calling it a "desperate attempt" to offload its own fines, DL News reported. Todd Snyder, who is managing the Terraform Labs bankruptcy proceedings, filed a $4 billion lawsuit last December against Jump Trading, its subsidiary, and its executives. The suit alleges they deceived investors and profited illicitly during the Terra collapse. In response, Jump Trading argued the lawsuit is an attempt by Terraform Labs to evade responsibility for a $4.4 billion fine levied by the U.S. SEC in 2024. The firm also claimed the suit lacks specific details on violations or their locations and that the statute of limitations has expired, requesting the court to dismiss the case. Snyder has also drawn market attention for filing a separate lawsuit against market maker Jane Street.

A wallet containing 500 BTC linked to Irish drug dealer Dubliner Clifton Collins has been activated after about 10 years of dormancy, with the funds transferred to another address, Bitcoin News reported on its official X account. Collins accumulated 6,000 BTC across 12 addresses from profits earned by growing and selling marijuana between 2011 and 2012. The funds were believed to have been confiscated by a court following his arrest in 2017. Bitcoin News added that the movement of the 500 BTC suggests that not all of Collins' original holdings may have been lost.

Crypto market maker Flowdesk deposited 63,250 ETH, worth $135 million, to Binance over the past 24 hours, according to ai_9684xtpa. The average price at the time of the deposits was $2,145. Transfers to exchanges are typically interpreted as a precursor to selling.

Seven new addresses withdrew a total of 74,959 ETH ($161.13 million) from Binance over the past 16 hours, Onchain Lens reported. Withdrawals from exchanges are typically interpreted as a sign of intent to hold.

CoinMarketCap's Altcoin Season Index has reached 51, an increase of six points from the previous day. The index is calculated by comparing the price performance of the top 100 cryptocurrencies, excluding stablecoins and wrapped tokens, against Bitcoin. An altcoin season is defined as a period where 75% of these top 100 coins have outperformed Bitcoin over the last 90 days. The opposite scenario is considered a Bitcoin season. A score closer to 100 is seen as indicative of an altcoin season.

Ark Invest, led by Cathie Wood, announced on March 24 the purchase of $20.45 million in Circle (CRCL) stock.

A supply chain attack has hit LiteLLM, an open-source library for large language models (LLMs), according to a report on X from SlowMist Chief Information Security Officer (CISO) 23pds. He warned that the breach poses a serious threat, as leaked data—including major cloud credentials, configuration files, and authentication information—could allow attackers to access cryptocurrency wallet data and passwords. 23pds urged all projects using LiteLLM to immediately verify their package integrity.

According to CoinNess market monitoring, BTC has risen above $71,000. BTC is trading at $71,002.24 on the Binance USDT market.

Onchain Lens reported that two new addresses, believed to belong to Bitmine (BMNR), withdrew 67,111 ETH ($144.73 million) from Kraken. Withdrawals from exchanges are typically interpreted as a move to hold assets. Bitmine currently holds approximately 4.6 million ETH.

Last month, 50.6% of addresses that traded on Pump.fun (PUMP) incurred losses, while 96% of profitable addresses earned less than $500, Protos reported, citing data from Dune Analytics. Two addresses made profits of over $1 million, while two others suffered losses between $500,000 and $1 million. In contrast, the top 250 token issuers collectively earned $79 million. Pump.fun recently introduced an AI-based automated trading system, but the price of PUMP has been falling as a previously announced airdrop has not materialized.

LY Corp is set to become the largest shareholder of Kakao Games (293490) through an investment of approximately 300 billion won ($216 million), the Seoul Economic Daily reported. The current top shareholder, Kakao, will become the second-largest shareholder. Kakao Games announced on March 25 that it is pursuing a strategic investment and a restructuring of its shareholding to accelerate its global market expansion and strengthen future growth engines.

The Crypto Fear & Greed Index, compiled by data provider Alternative, has risen three points from yesterday to 14, though market sentiment remains in a state of extreme fear. The index measures market sentiment on a scale of 0 to 100, where 0 signifies extreme fear and 100 indicates extreme optimism. It is calculated based on several factors: volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin's market cap dominance (10%), and Google search volume (10%).

Layer 1 blockchain Sui (SUI) announced it will host Sui Connect, a networking event, at the Hong Kong Web3 Festival. The event will take place for four hours, starting at 8:00 a.m. UTC on April 21. Adeniyi Abiodun, an early contributor to Sui and co-founder of Mysten Labs, is scheduled to speak. The talk will be followed by networking opportunities with industry founders and builders.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

The growing threat of stagflation—a combination of low growth and high inflation—is negatively impacting the price of Bitcoin, according to an analysis by CryptoSlate. The report noted that flash U.S. March Purchasing Managers' Index (PMI) data released on March 24 suggested this possibility. While the Manufacturing PMI rose from 51.6 to 52.4, the Services PMI, which accounts for a large portion of the U.S. economy, fell from 51.7 to 51.1. CryptoSlate suggested the rise in manufacturing PMI is a sign of tension rather than typical strength, as companies increase purchases in advance to cope with supply and cost hikes stemming from the conflict in the Middle East. "In this situation, the likelihood of a rate cut by the U.S. Federal Reserve decreases, which usually has a negative impact on risk assets like Bitcoin," the analysis stated.

The U.S. has delivered a proposal to Iran aimed at ending the war in the Middle East, The New York Times reported. The 15-point plan reportedly includes provisions for: - Dismantling Iran's existing nuclear capabilities - Banning the enrichment of nuclear materials on Iranian soil - Closing and destroying nuclear facilities - Halting financial and weapons support for armed factions in Iran - Keeping the Strait of Hormuz permanently open - Using ballistic missiles for defensive purposes only - Lifting all sanctions against Iran The proposal also suggests that negotiations on these terms would take place during a one-month ceasefire.

Duncan Moir, president of crypto ETP issuer 21Shares, has predicted that actively managed exchange-traded products (ETPs) will become a dominant force in cryptocurrency investment. In an interview with Cointelegraph, Moir argued that because cryptocurrency is an asset class in its early growth stages, it is particularly well-suited for active management. He anticipates that as the market matures, investors will increasingly favor active ETPs over funds that simply track asset prices. Unlike passive products that follow the price of a specific asset, active ETPs involve experts selecting assets and adjusting investment weights in an effort to generate excess returns.

Ethereum staking platform Lido saw its revenue fall 23% year-over-year to $40.5 million last year. According to a financial report released by the project, staking fee revenue was limited to $37.4 million, a result of staking fund outflows and a decline in the annual percentage rate (APR). In response, the LidoDAO is now considering an LDO token buyback in the second quarter of this year. The proposed method involves using staking rewards generated by the protocol to purchase LDO on the open market and then deposit the tokens into liquidity pools.

During a hearing for the crypto market structure bill (CLARITY), Republican members of the U.S. Senate Banking Committee pressured the White House to release a new research report from its Council of Economic Advisers (CEA), according to Eleanor Terrett, host of Crypto in America. The lawmakers urged Patrick Witt, director general of the White House's crypto advisory committee, to make the document public. The report covers the potential impact of stablecoin interest on deposit outflows and bank lending. While Republican members of the committee have been briefed on its findings, the document itself remains undisclosed. Meanwhile, Wyoming Senator Cynthia Lummis has stated that a nearly 99% consensus has been reached on the stablecoin interest provisions within the bill.

The board of directors at U.S. stock and crypto trading app Robinhood has approved a new $1.5 billion share buyback plan to be executed over the next three years, CoinDesk reported. The company also expanded its credit facility from $2.65 billion to $3.25 billion after renewing a credit agreement with a shareholder group led by JPMorgan. Robinhood's stock has fallen more than 50% since Bitcoin peaked last October.

U.S. Senator Cynthia Lummis of Wyoming has stated that lawmakers have reached nearly 99% agreement on the stablecoin interest provisions of the market structure bill, known as the CLARITY Act. According to Eleanor Terrett, host of "Crypto in America," Lummis described a Republican meeting on the bill held on March 24 as highly productive. She added that negotiations on the crypto-related sections of the legislation are progressing smoothly and that she also heard from colleagues about the need to address issues in housing and regional banking.