Coinbase Denies Hindering Bitcoin Microtransaction Tax-Free Policy

On March 13th, on-chain analyst Ai Auntie (@ai_9684xtpa) noted that whale address 0x709…Cad6e opened an on-chain ETH position after four months of dormancy. The whale spent 20.58 million sUSDC to purchase 10,557.14 ETH at an average price of $2,072.55.

March 13th, Aave founder Stani.eth responded to an incident where a user incurred over $50 million in slippage losses while purchasing AAVE: Given the exceptionally large size of the single order, the Aave interface—like most trading platforms—warns users of unusual slippage and requires explicit confirmation via a checkbox. The user acknowledged the warning on a mobile device, accepted the high slippage risk, and proceeded with the trade, ultimately receiving only around 324 AAVE. Transactions require checkbox confirmation to explicitly accept risk before proceeding. CoW Swap’s router functioned as intended, and the integration adhered to industry-standard specifications. However, while the user was able to complete the trade, the outcome was clearly far from optimal. Similar incidents do occur in DeFi, but this transaction’s scale is far larger than typical in the space. We sympathize with the user and will attempt to reach out to them to refund the $600,000 fee charged in the

On March 13, CoWSwap released an official response to the "User’s $50M+ AAVE Purchase Slippage Loss" incident. Earlier today, a trader attempted to swap 50 million aEthUSDT for aEthAAVE via Aave’s exchange interface—powered by the CoW Protocol. Critically, the user received a clear warning that nearly all their transaction value would be lost, and was required to explicitly confirm proceeding after acknowledging the warning. The user chose to move forward with the swap. It bears noting the CoW Protocol is a decentralized trading aggregator that routes trades through nearly all major public and private liquidity sources. No DEX, DEX aggregator, public/private liquidity pool, or combination thereof could execute this trade at a remotely reasonable price. Blocking users from transacting would deprive them of choice and could lead to severe consequences in some cases (e.g., a market collapse). That said, incidents like this underscore that DeFi’s user experience still hasn’t reach

March 13 — Per HyperInsight monitoring, ETH’s rally above $2100 pushed the “ETH Whale” address (0xa5b0) to $11.5 million in total long position profits, with a total position size of $199 million. This address is currently the largest BTC and ETH long holder on the Hyperliquid platform. It opened its ETH long position on Feb 9 and has held it since Feb 15, maintaining a bullish stance. Key positions below: - 15x ETH Long: ~70,000 ETH ($148 million), avg entry $1991, profit $9.27 million (93%) - 20x BTC Long: ~700 ETH ($50.1 million), avg entry $68,420, profit $2.23 million (89%) The whale previously opened a multi-billion-dollar ETH long position late last year, closing all in February 2024. It has since re-entered the market, with repeated fund transfers from Matrixport — suggesting a potential associated address.

On March 13, Binance will launch Katana (KAT) spot trading and add a SeedTag.

March 13th: A wallet linked to Trend Research (under Yee Finance) borrowed ETH via Aave, transferred it to Binance, and shorted 27,000 ETH—worth roughly $57.1 million. Yee Finance, known for pumping ETH and taking large personal long positions, bought ~658,100 ETH at an average price of ~$3,104 between last year and early this year. It liquidated that position on February 8th at ~$2,058, posting a loss of ~$688 million. When Trend Research closed its position on February 6th, Yee Finance was spotted near Hong Kong’s Causeway Bay that afternoon, staying until around 10 PM with no unusual behavior. On March 10th, Yee Finance took to social media again: “The speed of AI development and the anxiety are terrifying. Going back to crypto’s core principles: First, any ETH price below $2,000 is a buying opportunity—both short and long positions have a high success rate. Second, per cycle theory, this year is a strong bottom opportunity, ideal for prepping new capital and platforms.”