AICoin Daily Report (March 13)

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1. U.S. February CPI Year-on-Year Lower Than Expected

The U.S. released the February unadjusted CPI year-on-year, recording 2.8%, lower than the expected 2.9%, and the previous value was 3.0%. -Original

2. Fed Rate Cut Expectations Heat Up

Odaily Planet Daily reported that QCP Capital released a market analysis today, pointing out that the escalation of global trade tensions is putting pressure on market sentiment, with a new round of tariffs likely to be implemented on April 2. The 25% tariffs on steel and aluminum that took effect today have already triggered a countermeasure from the EU, which plans to implement tariffs of €26 billion (£22 billion) starting in April. Market volatility has intensified: the VIX index surged to 28 before falling back to 26.6, and the Cboe VIX futures curve has inverted, suggesting the market may be nearing a bottom. Tonight's CPI data may determine market interest rate expectations; currently, the market expects the Fed to raise the number of rate cuts in 2024 from 1 to 4 times, but the unexpected rise in January CPI has raised doubts about inflation easing, leading investors to maintain a cautious stance. Crypto market dynamics: The SEC has postponed the approval of XRP, SOL, LTC, ADA, and DOGE ETFs until May and will hold a crypto regulatory roundtable on March 21 to discuss the classification and regulatory framework for crypto assets. Bitcoin ETFs saw a net outflow of $154 million, with GBTC selling 641 BTC (worth $56.45 million) in a single day, indicating that institutional investors' cautious sentiment is rising. The market will closely watch whether CPI data confirms the trend of easing inflation, while ETF approval progress and the results of the regulatory meeting may also impact the short-term trend of the crypto market. -Original

3. South Korea Plans to Lift Crypto Investment Ban

South Korea's financial regulatory agency announced on Wednesday that it plans to release comprehensive guidelines for institutional cryptocurrency investment in the third quarter. The Financial Services Commission made this announcement during a meeting with local crypto industry experts. While investment guidelines for listed companies and professional investors are expected to be released in the third quarter, the Financial Services Commission stated that it aims to launch investment guidelines for non-profit organizations and cryptocurrency exchanges in April. The Financial Services Commission first announced in January that it would gradually lift the de facto ban on institutional investors investing in cryptocurrencies. Last month, the regulator revealed its intention to first allow charities and universities to sell their cryptocurrency assets in the second quarter. The upcoming detailed guidelines further solidify South Korea's shift in stance towards cryptocurrencies, no longer strictly opposing the entry of crypto assets into traditional financial markets. Meanwhile, the Financial Services Commission has also begun drafting a second set of rules for a two-part cryptocurrency regulatory framework, with the first set of rules having been launched last year. The second part of the cryptocurrency law will focus on stablecoins and regulating cryptocurrency business owners. -Original

4. Russian Bank Allows Crypto Purchases

Odaily Planet Daily reported that the Russian bank allows investors to purchase cryptocurrencies "to a limited extent." -Original

5. U.S. SEC Delays Crypto ETF Approvals

The SEC delayed further action on several filings this week, but experts say this is not surprising before the new chair takes office. According to Bloomberg, at least 60 spot crypto ETF proposals are awaiting review. -Original

6. Bolivian Energy Company Uses Crypto Payments

Odaily Planet Daily reported that Bolivia's state-owned energy company (YBFB) will use cryptocurrencies to pay for energy imports, as the country is currently facing issues of insufficient foreign exchange reserves and reduced natural gas exports, thus planning to follow the example of countries like Argentina and Venezuela by using cryptocurrencies to purchase energy. -Original

7. Stark Bank Targets Brazilian Crypto Market

Stark Bank SA, a purely online bank in Brazil supported by Bezos Expeditions, is positioning itself as the preferred banking service provider for the country's cryptocurrency startups, betting that this area, which has been shunned by traditional lending institutions, will drive growth. The bank's CEO, Rafael Stark, stated that the bank is currently collaborating with 52 companies focused on digital currencies and blockchain technology, including Mercado Bitcoin Servicos Digitais, Transfero Swiss AG, and Binance Holdings. He noted that U.S. President Trump's support for cryptocurrencies is making it an increasingly attractive field. He declined to estimate the market share the bank currently serves but stated that given the partnerships with large companies, the bank is "a very important player." Stark Bank was established in 2018 and helps its nearly 800 clients with services such as processing payments, paying bills, and managing corporate credit cards. Its most recent funding round was in 2022, with investors including Ribbit Capital and Jeff Bezos's venture capital tool, valuing the bank at $250 million. Stark mentioned that the digital bank still has a significant amount of cash on hand and is not actively seeking to raise new funds from external investors to increase its valuation and achieve unicorn status, with any plans for an initial public offering (IPO) likely still five years away. -Original

8. Massachusetts Proposes Establishing a Crypto Special Committee

Massachusetts State Representative Kate Lipper-Garabedian submitted a bill proposing the establishment of a special committee, including state legislative members, to investigate blockchain and cryptocurrency-related matters. -Original

The above is a selection of hot topics from the past 24 hours. For faster news, please download AiCoin (aicoin.com).

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