Ben (v2) priceBEN

Ben Gagnon, Bitfarms’ Chief Executive Officer, shared his thoughts on how new geopolitical challenges from the Trump administration would impact the Bitcoin mining industry. Gagnon said during a Bloomberg TV interview on March 11 that both the US and Canada have been energy-driven economies for more than 200 years. Blessed with easy access to affordable power has been a key driver of economic growth over the past two centuries. However, he explained that the ongoing trade tensions and tariffs could have downstream effects on the energy markets, which are critical for Bitcoin mining . “All of our sites are based in Quebec,” Gagnon said. “The largest sites are going to be in Quebec and Alberta, followed by British Columbia. Ontario, on the other hand, isn’t as attractive due to its weaker energy market and reduced capacity.” Despite the political tension between Washington and Ottawa showing no immediate signs of easing, Gagnon believes that greater access to electricity markets and regulatory support will be crucial for the mining sector’s long-term success. He emphasized the need for deregulation and smooth market operations to allow miners to continue expanding their businesses. Bitfarms has been busy in strengthening its market position through strategic acquisitions that allows for better geographical diversity that takes advantage of access to energy. “We’ve transitioned from being 40% based in North America with 6% in the US, to becoming 80% based in North America with 66% in the US,” Gagnon stated. “This shift opens up a world of opportunities for us, improving both the quality and cost structure of our operations.” Gagnon also explained that the shift in energy infrastructure from industrial use to Bitcoin mining is creating new growth opportunities. “For the last four or five years, Bitcoin miners have been investing in energy infrastructure that was previously used for industries like aluminum smelting. As the pendulum swings back toward North America, those assets are now in high demand,” he said. While Gagnon remains bullish on the future of the Bitcoin mining industry, he noted that current regulatory uncertainty remains an ongoing concern, although prospects are indeed improving. He noted that President Trump’s recent moves, including discussions about a strategic Bitcoin reserve, signal at the very least growing recognition of Bitcoin’s role in the economy. But, greater clarity on energy and crypto regulations are key to creating even greater opportunities for growth. “We need greater access to electricity markets and a supportive policy framework to drive long-term success,” he added.

StarkWare establishes Bitcoin reserve, expands $BTC integration on Starknet StarkWare, the developer of the Ethereum layer-2 network Starknet, has launched a Strategic Bitcoin (BTC) Reserve, aiming to allocate a growing portion of its treasury to BTC, according to The Block. While the firm has not disclosed specific acquisition plans, CEO Eli Ben-Sasson emphasized that "every blockchain company should and will hold Bitcoin."

Today, the digital asset market saw further declines due to recent economic turmoil. Over the past 24 hours, its market capitalization decreased by 1.07% to $2.79 trillion while its transaction volume dropped by 51.72% to $52.79 billion. The fear and greed index decreased to 27 from yesterday’s 28, showing anxiety in the market. The ongoing downturn is due to an interplay of global economic turmoil, new US tariffs, and bearish investor sentiment. On Friday, March 7, 2025, the market fell and investor sentiment turned bearish after news emerged that the US government won’t actively buy cryptocurrencies to be held in a strategic crypto stockpile announced early this week. The White House stated that the crypto reserve would capitalize on assets forfeited in civil and criminal cases. Daily Summary on March 9, 2025$MOVE $ENA $BCH $CRO $ADA $ETH $BTC $XRP $SOL $ADA#dailysummary #DeFi #Crypto pic.twitter.com/UOgFkYYA3B — PHOENIX – Crypto News & Analytics (@pnxgrp) March 9, 2025 How is the market performing today? Bitcoin and prominent altcoins slumped as hopes of the US crypto strategic stockpile waned, worsened by Trump’s tariff plans. Today, BTC’s value is standing at $84,450 after seeing a decline of 2.07% over the past 24 hours. Ether declined by 0.96% making its price currently trading at $2,143. XRP, BNB, and SOL are also down 4.02%, 3.09%, and 1.65% respectively. Similarly, ADA, DOGE, and TRX registered decreases of 3.80%, 5.24%, and 1.82% respectively. Top performers today Despite the significant downturn in the wider market, some assets have performed well. Movement (MOVE) emerged as the top performer in today’s crypto market, with a price surge of 47.18% over the past 24 hours. With the increase in demand for US-based crypto assets following the US crypto strategic stockpile’s announcement, MOVE’s price has garnered huge strength, making it one of the best performers. Ethena (ENA) became the second-best performer after its value rose by 29.50% over the period. ENA is doing well because investors and traders are increasingly accumulating the asset, as they have confidence in its growth potential. Bitcoin Cash (BCH) took the third position with a price increase of 28.88%. BCH is currently in a market rally. On-chain data shows the asset is in a bullish trend, with its open interest surging and transaction rate reaching higher levels. Cronos (CRO) settled on position four with a price jump of 28.38%. CRO has been in an uptrend, with its price growth of 121% recorded over the past month, fuelled by robust investor enthusiasm. Lastly, Cardano (ADA) made it to this list with a price upsurge of 25.58%. ADA has ben seeing incredible increase after Trump announced that the US crypto strategic stockpile would include ADA, SOL, XRP, ETH, and BTC.

Blockworks' @strack_ben and @caseywagnerr will be watching the White House crypto summit even more closely after Howard Lutnick's reported comments

The hacker behind the $1.4B Bybit exploit has reportedly laundered the entire 499,000 ETH in just 10 days, using decentralized finance (DeFi) protocols to conceal their tracks. Despite intense monitoring from blockchain analytics firms, law enforcement, and exchanges, the attacker effectively dispersed the funds across numerous wallets. Bybit CEO Ben Zhou revealed that 83% of the stolen funds—around $1 billion—were converted into Bitcoin (BTC) and spread across 7,000 wallets, with 20% untraceable and 3% frozen. The hacker, believed to be linked to North Korea’s Lazarus Group, used platforms like THORChain and eXch to launder the funds, with only a small portion traced.