Cryptocurrency Fear and Greed Index now at 12, market sentiment intensifies to "Extreme Fear"

March 7 – Per the Financial Times, citing anonymous sources, cryptocurrency trading and lending firm BlockFills has sought restructuring advice from consulting firm BRG. After pausing withdrawals, BlockFills has named BRG’s Mark Renzi as its Chief Transformation Officer. The company’s new leadership aims to complete the restructuring, inject fresh capital, and implement new governance and financial controls.

March 7— The Florida Senate on Thursday passed Senate Bill 314 by a 37-0 vote, clearing the way for the state to establish a regulatory framework for payment stablecoin issuance. The measure, paired with companion House Bill 175, will be sent to Governor Ron DeSantis for his signature within 30 days. The legislation draws from the federal GENIUS Act—enacted last July—which outlines consumer protection and financial stability guidelines. Key provisions include: - Amends the Anti-Money Laundering Act for Financial Service Businesses to bring stablecoins under regulatory purview, requiring issuers to comply with existing rules and barring unlicensed issuance - Clarifies that certain payment stablecoins do not qualify as securities - Requires out-of-state qualified payment stablecoin issuers to submit written notice to the state’s financial regulatory agency - Some stablecoins will be regulated solely by the state Office of Financial Regulation (OFR), while others will be joi

March 7th — Per the latest disclosure from the UK’s Electoral Commission, London-based investor Christopher Harborne has made an additional donation to the UK Reform Party. Harborne is estimated to own a 12% stake in Tether, the world’s largest stablecoin issuer. Disclosure documents show that after a ￡9 million donation he disclosed last year, Harborne gave another ￡3 million in November 2023. Led by Nigel Farage, the Reform Party has made digital assets a core part of its economic agenda, promising to turn the UK into a top global hub for digital assets and proposing to cut the capital gains tax on cryptocurrencies from the current ~18% to 10%. In 2025, the Reform Party became the first UK political party to accept digital asset donations, letting supporters donate via cryptocurrencies like Bitcoin. This step has sparked concerns among some UK lawmakers. This past January, seven committee chairs called on the UK government to ban political donations in cryptocurrencies, arguing

**March 7 – Kristin Smith, President of the Solana Policy Institute, recently commented on the legislative progress of the *Clarity Act*.** Smith noted that while the bill has faced pushback—including Coinbase CEO Brian Armstrong’s withdrawal of support and banking industry controversies—its complexity has ensured the legislative process will be long-term. Current negotiations feature two key new developments: first, direct White House involvement, with presidential aides like David Sacks pushing for dispute resolution; second, traditional financial institutions joining talks for the first time. If the Senate Banking Committee completes its review in March or April, the legislation could advance before the July recess; otherwise, the next window likely delays until fall. A former head of the Blockchain Association who helped pass the *Genius Act*, Smith argued that despite opposition from Elizabeth Warren and others, support from key Democrats like Chuck Schumer and ongoing press

March 7th — Per on-chain data from analyst Yu Jin, whale address 0x65b4 once again bought the ETH dip 10 hours ago, spending $12.5 million in USDC to purchase 6,228 ETH at an average price of $2,007. This address previously bought the dip in ETH and BTC following last year’s October 11 market crash, spending $32.58 million in USDC — only to sell at a loss in November, incurring an $830,000 USDC loss.

On March 7th, on-chain data analyst Yu Jin noted that ParaFi Capital withdrew 70 million staked SKY tokens 4 hours earlier—valued at roughly $5 million.