{"id":16200,"date":"2025-03-25T00:53:40","date_gmt":"2025-03-25T00:53:40","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/03\/25\/crypto-market-recap-coinbase-challenges-tornado-sanctions-decision\/"},"modified":"2025-03-25T00:53:40","modified_gmt":"2025-03-25T00:53:40","slug":"crypto-market-recap-coinbase-challenges-tornado-sanctions-decision","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/03\/25\/crypto-market-recap-coinbase-challenges-tornado-sanctions-decision\/","title":{"rendered":"Crypto Market Recap: Coinbase Challenges Tornado Sanctions Decision"},"content":{"rendered":"<\/p>\n

Here\u2019s a quick recap of the crypto landscape for Monday (March 24) as of 9:00 p.m. UTC.<\/strong><\/p>\n

\n

Bitcoin and Ethereum price update <\/h3>\n

Bitcoin (BTC) <\/strong>is currently trading at US$88,242.18, a 3.6 percent increase over the past 24 hours. The day\u2019s trading range has seen a low of US$87,300.18 and a high of US$88,713.83.<\/p>\n

Arthur Hayes speculates that Bitcoin could go as high as US$110,000 before retracing to the US$75k range as inflation concerns fade and the US Federal Reserve slows quantitive tightening (QT) and shifts to quantitive easing (QE).<\/p>\n<\/div>\n

<\/small><\/p>\n

Bitcoin performance, March 24, 2025.<\/em><\/p>\n

<\/small><\/p>\n

Chart via TradingView.<\/em><\/p>\n

Ethereum (ETH)<\/strong> is priced at US$2,091.12, garnering a 4.8 percent increase over a 24-hour period. The cryptocurrency reached an intraday low of US$2,072.25 and a high of US$2,102.94.<\/p>\n

BlackRock\u2019s BUIDL fund now holds US$1.163 billion worth of Ether, up from around US$990 last week, according to data gathered from Token Terminal.<\/p>\n<\/div>\n

\n

Altcoin price update <\/h3>\n

Solana (SOL)<\/strong> is currently valued at US$142.76, up 9.3 percent over the past 24 hours. SOL experienced a low of US$141.53 and a high of US$145.14 on Monday.<\/p>\n

XRP<\/strong> is trading at US$2.47, reflecting a 2.6 percent increase over the past 24 hours. The cryptocurrency recorded an intraday low of US$2.45 and a high of US$2.50.<\/p>\n

Sui (SUI) <\/strong>is priced at US$2.44, showing a 7.8 percent increase over the past 24 hours. It achieved a daily low of US$2.40 and a high of US$2.45.<\/p>\n

<\/strong>Cardano (ADA)<\/strong> is trading at US$0.7373, reflecting a 5.2 percent increase over the past 24 hours. Its lowest price on Monday was US$0.7277, with a high of US$0.7413.<\/p>\n<\/div>\n

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Crypto news to know <\/h3>\n

<\/h4>\n

<\/h4>\n

<\/span><\/h4>\n

<\/h4>\n

Coinbase challenges Tornado Cash sanctions decision<\/h4>\n

The US Department of the Treasury has removed sanctions imposed on Tornado Cash in 2022 after the cryptocurrency mixer was accused of helping North Korean hacking crew the Lazarus Group launder stolen crypto. <\/p>\n

The department argues that the lawsuit should be dismissed without a final court judgment; however, this idea is being challenged by Coinbase\u2019s chief legal officer, Paul Grewal, who insists a final ruling is necessary to prevent legal uncertainty. Without one, he argues nothing is stopping the Treasury from reimposing sanctions in the future.<\/p>\n

Cronje concerned about Sonic\u2019s algorithmic stablecoin<\/h4>\n

Software developer Andrew Cronje has expressed reservations about proceeding with an algorithmic stablecoin project from Layer-1 blockchain Sonic given its resemblance to the failed Terra-Luna system, which erased tens of billions of dollars after a meltdown in 2022. Algorithmic stablecoins try to control the price of a stablecoin using an algorithm that adjusts supply and demand, rather than fiat-backed stablecoins, which hold dollars in a bank.<\/p>\n

To encourage users to participate in the ecosystem and help maintain the stablecoin\u2019s peg, algorithmic projects often offer extremely high yields or rewards. A core concern is that these systems are inherently fragile, as the algorithm may not be able to effectively maintain its peg if the demand for the stablecoin suddenly drops, triggering a \u201cdeath spiral.\u2019 <\/p>\n

According to Cronje, co-founder of Sonic Labs and founder of Yearn.finance, the blockchain project is developing an algorithmic stablecoin that offers an APR of up to 23.5 percent. <\/p>\n

Ocree Capital tokenizes Winnipeg property
<\/h4>\n

Ocree Capital, a securities dealer, has tokenized a C$51.9 million commercial real estate listing in Winnipeg, Manitoba. This process involves converting the ownership rights of the property, a Class \u201cA\u201d multi-residential development with 156 units, into digital tokens on the Polymesh blockchain.<\/p>\n

\u201cWe\u2019re proud to collaborate with Ocree Capital on this milestone initiative exemplifying how blockchain can bring greater access, transparency, and efficiency to real estate markets,\u201d said Will Vaz-Jones, head of partnership development at the Polymesh Association. \u201cOcree\u2019s regulatory approach and expertise, combined with Polymesh\u2019s purpose-built blockchain infrastructure, creates a powerful solution for the Canadian market.\u201d<\/p>\n

This move by Ocree Capital represents a significant advancement in the real estate industry, as tokenization offers numerous benefits, including increased liquidity, fractional ownership and streamlined transactions.<\/p>\n<\/div>\n

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.<\/strong><\/strong><\/p>\n

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Here\u2019s a quick recap of the crypto landscape for Monday (March 24) as of 9:00 p.m. UTC. Bitcoin and Ethereum price update Bitcoin (BTC) is currently trading at US$88,242.18, a 3.6 percent increase over the past 24 hours. The day\u2019s trading range has seen a low of US$87,300.18 and a high of US$88,713.83. Arthur Hayes […]<\/p>\n","protected":false},"author":0,"featured_media":16201,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-16200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/16200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=16200"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/16200\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/16201"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=16200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=16200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=16200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}