CZ: In a fast-changing world, only top-tier blockchain remains constant

March 5th update: CryptoQuant community analyst Maartunn took to social media to note, “Bitcoin hit $74,050 this week—and this move isn’t random. Several metrics show institutional demand is driving the breakout: Coinbase’s premium reached $61 per Bitcoin, pointing to a sizeable influx of U.S. institutional buy orders, backed by order flow data.” Institutions have snapped up roughly $790 million worth of Bitcoin via TWAP orders—typically used by large funds to accumulate positions without moving the market—ranging from $10k to $1M in size. Technically, Bitcoin has reclaimed the $71,700 range high and extended its rally. A hold above this level would confirm the range breakout and keep the bullish trend intact. Still, risks remain: Leverage in the derivatives space has spiked, with $3.55 billion (+18%) in new leveraged positions for Bitcoin and $1.8 billion (+17%) for Ethereum. These fresh positions need ongoing spot demand to stay stable. If buying support fades, over-leverage

March 5 (Wall Street News) — NVIDIA CEO Jensen Huang said at the Morgan Stanley Technology, Media & Telecom Conference that the chipmaker’s recent $30 billion investment in OpenAI “may be” its last, as the AI firm plans to go public possibly by the end of this year. Additionally, Huang noted that the chance to invest $100 billion in OpenAI “may not come again,” making this potentially the last shot to back a company of such significance. NVIDIA’s $10 billion investment in OpenAI rival Anthropic may also be its final such move. Huang reiterated that AI computing power deployments have already delivered substantial profitable revenue to businesses — including major publicly traded data center operators like Microsoft. He argued that more computing power for these customers would drive faster revenue growth: a threefold increase in computing power could lead to a threefold revenue jump. He also mentioned that automated design software and system suppliers such as Cadence and Synopsy

March 5th: - The White House confirmed it has sent Kevin Warsh’s nomination for Federal Reserve Chair to the Senate, while the U.S. Senate failed to hold a vote to block Trump’s strike on Iran. - Bitcoin hit a fresh high early this morning, marking its highest level since February 5th, with a peak of $74,050. Total cryptocurrency market capitalization topped $2.538 trillion. - U.S. crypto-related stocks rallied across the board: MSTR closed up 10.37%, COIN gained 14.57%, and CRCL rose 5.63%. - Per Bitget market data, Japanese and South Korean stock indices opened higher: South Korea’s KOSPI added 618 points to 5,711.38, while the Nikkei 225 gained 2,263.67 points to 56,509.21.

Decrypt reported Wednesday (March 5) that JPMorgan Chase has disclosed plans in an amended S-1 filing to offer Bitcoin custody services for its proposed JPMorgan Bitcoin Trust, naming BNY Mellon and Coinbase Custody Trust Company as custodians. The setup mirrors existing Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust (IBIT). IBIT initially relied exclusively on Coinbase for Bitcoin custody, but added Anchorage Digital as a second custodian in April 2025. BlackRock’s Bitcoin fund also uses BNY Mellon as its cash custodian and administrator. JPMorgan first filed for a spot Bitcoin ETF in January. It has since filed to register Ethereum and Solana ETFs, though it did not disclose its planned Bitcoin fund custodian at the time of the initial filing.

Bloomberg reported on March 5 that top Wall Street regulators are moving ahead with plans to regulate the crypto industry and rapidly expanding prediction markets, with the proposed new measures expected to have long-term implications for the broader financial markets. Following months of public statements from regulators and political maneuvering in Congress, the U.S. Securities and Exchange Commission (SEC)—which oversees U.S. stock markets—and the U.S. Commodity Futures Trading Commission (CFTC)—which regulates derivatives trading—have submitted relevant proposals to the White House. Details remain unclear, but this procedural step marks one of the most substantive moves to date by market regulators under the Trump administration.

March 5th — Per the Financial Times, Elon Musk admitted his tweet in the multibillion-dollar lawsuit over his $44 billion Twitter acquisition “might not have been my most wise behavior” as he defends himself in court against market manipulation charges. Testifying before a San Francisco jury Wednesday, Musk said the tweet was not intended to manipulate Twitter’s stock price and was posted during acquisition negotiations. A group of Twitter investors alleges they suffered losses after Musk threatened to withdraw from the deal to gain leverage—even though he knew he was legally obligated to complete the $44 billion purchase. Context: After signing a binding acquisition agreement in April 2022 and waiving due diligence rights, Musk quickly questioned the platform’s bot account count. On May 13, 2022, he tweeted trading would “temporarily pause” unless Twitter could prove “spam/fake accounts are indeed less than 5% of the user base.” Twitter’s stock opened down 9% the next day.