Coin Telegraph

A trader banked $6.8 million from leveraged longs on Bitcoin and Ether. Many of those positions were exited shortly after US President Donald Trump confirmed crypto reserve plans.

A crypto whale that placed hundreds of 50x leverage long position bets on Bitcoin and Ether before US President Donald Trump announced a Crypto Strategic Reserve has profited nearly $7 million from the trades.

The whale deposited $5.9 million in USD Coin (USDC) on decentralized derivatives exchange Hyperliquid on March 1 to place the long positions, according to crypto analytics platform HyperDash.

The whale placed their first Ether (ETH) long position on March 2 at 2:49 pm UTC. Thirty-five minutes later, Trump announced the Crypto Strategic Reserve — nearly immediately causing an explosion in market prices.

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A gap of more than $10,000 has opened up on CME Bitcoin futures following the massive market move over the weekend.

The Chicago Mercantile Exchange has recorded its largest-ever Bitcoin futures gap following US President Donald Trump’s announcement of a crypto strategic reserve on March 2.  

More than $300 billion was added to spot markets after the announcement, opening a $10,000 CME Bitcoin futures gap, according to TradingView. 

This record gap eclipses the previous record of just over $4,000 in August 2024, observed Asymmetric founder Joe McCann on March 2. 

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An Ohio woman lost her life savings to the scam, and the fraudsters allegedly threatened harm to her friends and family unless she sent more money.

US authorities are working to return $8.2 million in crypto frozen and seized from three scam addresses to victims of a con involving fraudulent messages and a fake investment scheme. 

The scam involved sending messages to random phone numbers pretending to have the wrong number. From there, the scammers would befriend the recipient, gain their trust and eventually convince them to invest in a crypto scam. 

The FBI has identified 33 people snared by the scam; another five are still to be identified, with total losses at $6 million, according to a Feb. 28 statement from the Ohio District Attorney’s office. 

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Olumide Osunkoya, who operated a network of crypto ATMs without regulatory permission, has been sentenced to four years in prison.

An illegal crypto ATM operator has been sentenced to serve four years in prison for operating them — in the UK’s first criminal sentencing for unregistered crypto activity. 

Olumide Osunkoya illegally operated a network of crypto ATMs, which he did without the needed regulatory permission, the Financial Conduct Authority (FCA) said in a Feb. 28 statement.

“This is the UK’s first criminal sentencing for unregistered crypto activity and sends a clear message: those who flout our rules, seek to evade detection and engage in criminal activity will face serious consequences,” said Therese Chambers, joint executive director of enforcement and market oversight at the FCA.

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The inclusion of altcoins in Trump’s US Crypto Strategic Reserve announcement sent Bitcoin up 10% but dented its dominance over altcoins.

Bitcoin dominance slipped from 55.4% to below 50% in the hours after US President Donald Trump initially announced the country would include XRP, Solana and Cardano in its “Crypto Strategic Reserve.”

Trump later confirmed on Truth Social that Bitcoin (BTC) — and also Ether (ETH) — would be “at the heart of the reserve” — though his inclusion of altcoins left a sour taste in the mouths of several Bitcoiners — and even a Bitcoin critic.

Bitcoin’s dominance has slipped to 49.6% as the likes of Cardano (ADA) and XRP (XRP) increased 60.3% and 34.7%, respectively, over the last 24 hours.

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XRP, ADA and SOL rallied after President Trump’s post about a crypto strategic reserve. Will other altcoins latch on and rally too?

Bitcoin (BTC) witnessed solid buying over the weekend as US President Donald Trump announced that Bitcoin, Ether (ETH), XRP (XRP), Solana (SOL), and Cardano (ADA) would be included in a crypto strategic reserve. The announcement massively pumped the chosen coins, which made it risky for a fresh entry after the rally. The coins in this article have been selected for their technical setups rather than the Trump-based pump.

Apart from the crypto strategic reserve, in a sign that could create new demand for Bitcoin, BlackRock added the iShares Bitcoin ETF Trust (IBIT) to its $150 billion model portfolio, according to a Bloomberg report. The global investment firm is adding 1% to 2% allocation to portfolios that allow for alternative assets. This move opens the doors for a potential new demand for the Bitcoin ETF.

Crypto market data daily view. Source: Coin360

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Artificial intelligence will have major social implications but will not evolve to the point of being a true silicate-based life form.

Artificial intelligence (AI) will never become a conscious being due to a lack of intention, which is endemic to human beings and other biological creatures, according to Sandeep Nailwal — co-founder of Polygon and the open-source AI company Sentient.

"I don't see that AI will have any significant level of conscience," Nailwal told Cointelegraph in an interview, adding that he does not believe the doomsday scenario of AI becoming self-aware and taking over humanity is possible.

The executive was critical of the theory that consciousness emerges randomly due to complex chemical interactions or processes and said that while these processes can create complex cells, they cannot create consciousness.

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Tokenizing real estate and overhauling property investment markets has its challenges but is a killer use case for blockchain technology.

Real-world asset (RWA) tokenization can completely overhaul the real estate investment sector, which is highly illiquid, filled with intermediaries, and high transaction costs, according to Polygon CEO Mark Boiron.

In an interview with Cointelegraph, the CEO said that tokenization of properties could remove unnecessary intermediaries, thereby lowering transaction costs.

The CEO added that fractional ownership and trading tokenized real estate on the secondary markets would open up liquidity and increase the velocity of money. Boiron told Cointelegraph:

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Bitcoin price gains top 8% as a surprise from US President Trump sends crypto market valuations flying higher.

Bitcoin (BTC) neared $93,000 on Mar. 2 as US President Donald Trump doubled down on a strategic crypto reserve.

BTC/USD 1-day chart. Source: Cointelegraph/TradingView

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining 8% in rare weekend volatility.

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The President's language surrounding a Bitcoin strategic reserve has shifted dramatically since his Bitcoin 2024 keynote address.

United States President Donald Trump recently announced that the President's Working Group on Digital Assets has been directed to include XRP (XRP), Solana (SOL), and Cardano's ADA (ADA) in the US crypto strategic reserve.

The President did not mention Bitcoin (BTC) in his March 2 Truth Social post or any other cryptocurrencies to be included in the US strategic reserve.

Trump previously promised to establish a "strategic national Bitcoin stockpile" at the Bitcoin 2024 conference in Nashville, Tennessee. Trump told the audience during his keynote speech:

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