Bitcoin Rallies as Equities, Gold Stumble
Bitcoin crossed $74,000 this morning, up 3% in 24 hours and 9.4% for March, despite geopolitical tensions and oil shocks. The move marks a rare decoupling from equities – the S&P 500 fell 2.2% over five weeks while bitcoin gained 2.4% – with ETF inflows hitting $1.34 billion. Read more →
BlockFills Files for Bankruptcy
Crypto lender BlockFills filed for Chapter 11 bankruptcy on Sunday, capping months of financial distress marked by suspended withdrawals and legal disputes. The company reported assets of $50 - $100 million against liabilities of $100 - $500 million. BlockFills cited liquidity shortages and faced a temporary asset freeze from a lawsuit by Dominion Capital, which accused the firm of misappropriating customer crypto holdings. It is one of the first crypto firms to seek court protection since the Oct. 10 market crash, which touched off a bear market that’s erased nearly $2 trillion across crypto markets. Read more →
Crypto wealth manager Abra goes public via SPAC
Digital asset platform Abra is merging with New Providence Acquisition Corp. III (NPACU) to list on Nasdaq under ticker ABRX, valuing the company at $750 million pre-money. The deal brings up to $300 million in cash, with existing investors including Pantera Capital and Blockchain Capital rolling their full stakes into the combined entity. Abra currently manages hundreds of millions in assets and targets $10 billion in AUM by end of 2027. Read more →
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