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SEC Closes Yuga Labs Investigation
The U.S. Securities and Exchange Commission (SEC) has closed its investigation into Yuga Labs without filing any charges. This is seen as a major legal victory for Yuga Labs, the creator of Bored Ape Yacht Club (BAYC) and other popular NFT collectibles. So what does this decision mean for the NFT market and the crypto ecosystem at large?Why Did the SEC Investigation Begin?The SEC began investigating whether Yuga Labs violated securities laws in 2022 through its Bored Ape Yacht Club NFTs and ApeCoin (APE) token. Regulators have been evaluating whether NFTs and related tokens qualify as securities for investors. In particular, the issue of whether NFTs can be considered securities has sparked considerable debate.What Does the Closing of the Investigation Mean?The fact that the SEC closed the investigation without bringing any charges indicates that it has not made a clear decision regarding the classification of NFTs as securities. This situation has provided great relief for the NFT market. NFT and its Effects on the Crypto MarketThis decision may increase investor confidence by reducing potential regulatory threats to the NFT sector. Yuga Labs' successful passage through this process also sets a positive precedent for other NFT projects in the sector. In particular, the fact that the SEC does not impose any penalties or sanctions may also mean relief for other major NFT platforms. However, this decision does not mean that NFTs will never be considered securities in the future. SEC A Major Turning Point for the NFT WorldThe SEC's closing of the investigation may have eliminated one of the biggest uncertainties regarding regulations in the NFT ecosystem. However, it is likely that regulatory bodies will set clearer rules regarding NFTs and crypto assets in the future. Although this decision has temporarily put to rest the debate over whether NFTs are investment vehicles, the direction the sector will take in the future remains uncertain.For Yuga Labs and the NFT industry, this decision can be considered not only a legal victory, but also an important opportunity to create a market with more solid foundations in the future.Author: Besim Şen
US-China Trade Tension Rekindled: China Responds Harshly to Trump's Statements
US President Donald Trump’s recent statements have brought global trade wars back to the agenda. Trump announced that new tariffs will be imposed on some imported products in order to protect the US economy. His announcement that a 25% customs duty will be imposed on some products imported from Mexico and Canada in particular had an immediate impact on global markets. This move had a great impact not only in the US but also in the global trade arena.China’s Retaliation: New Customs Duties on Agricultural ProductsChina, which responded quickly to Trump’s statements, announced that it will impose an additional customs duty of up to 15% on some products imported from the US. The agricultural sector is particularly notable among the products to be taxed. By imposing additional duties on strategic agricultural products such as chicken and soybeans, the Chinese government has made a move that will put US farmers in a difficult situation. Since agriculture is a sector that has an important place in Trump’s election campaign, it is also considered that this step carries a political message.China’s move is actually a direct response to a statement Trump made in recent weeks. The US President had announced that an additional 10% customs duty would be imposed on all products imported from China. China's counterattack shows that the trade wars will not end in the short term and that tensions will continue.Impact on Global Markets: Sharp Decline in Stock MarketsThese mutual sanctions moves had a major impact on global markets. While stock indices began to decline, investors began to move away from risky assets due to uncertainty. While stock indices entered a sell-off in the US, bond yields declined. At the same time, the Mexican peso and the Canadian dollar also lost value in response to these developments.Technology stocks in particular were negatively affected by these developments. China imposed new restrictions on the export of critical minerals in response to the sanctions imposed on it by the US in the field of chips and artificial intelligence. These restrictions imposed on rare earth minerals, which are used in many sectors from smartphones to missile systems, could affect many sectors, especially US technology companies.The Re-Emergence of the US-China Trade WarThe ongoing economic tension between Trump and the Chinese government is actually a continuation of the long-standing trade wars. Trump, in his first term in office, pursued many sanctions policies against China and aimed to strengthen the US economy by reducing imports from China. However, China's retaliation and reactions in global markets made it difficult for these policies to yield the expected results.The escalating trade wars between the US and China continue to deeply affect not only these two countries but also the global economy. Investors and large companies in particular are carefully evaluating how to act in an environment of uncertainty. The Trump administration's new economic steps and counter-moves from China will be closely monitored in the coming days.During this process, volatility in the markets may continue and changes may occur in the global trade flow. Whether the US-China tension will increase further will depend on both economic and political developments.Author: Besim Şen
Major Step for Dogecoin ETF: Bitwise Awaits SEC Approval
One of the notable developments in the crypto market was Bitwise Asset Management’s application for a spot ETF for Dogecoin. Bitwise filed its 19b-4 application through NYSE Arca, a subsidiary of the New York Stock Exchange (NYSE). If approved, the Dogecoin ETF will be one of the first memecoin ETFs listed in the US.How Will the Dogecoin ETF Work?This ETF will offer investors the opportunity to invest in Dogecoin without directly owning it. The fund, which will be managed through a trust structure, will be managed by Bitwise. Coinbase will act as the fund’s Dogecoin custodian, while Bank of New York Mellon (BNY Mellon) will handle cash management and record keeping.One of the most important features of the ETF will be that it will directly track Dogecoin’s price movements and directly store Dogecoin without using derivatives. The net asset value (NAV) will be calculated based on the CF Dogecoin-Dollar Settlement Price, so the value of the fund will move in line with the market price.SEC Decision and CompetitorsBitwise is not the only company to apply for a Dogecoin ETF. Grayscale, Rex Shares, and Osprey Funds have also filed similar applications, intensifying the ETF competition in the memecoin market. Grayscale’s application, in particular, is at a more advanced stage in the regulatory process. The SEC officially evaluated Grayscale’s Dogecoin ETF application on February 13.The probability of the Dogecoin ETF application being approved in the markets is increasing. According to the data, the probability of the ETF being approved in 2025 has increased to 67%. This rate was at 55% the day before, indicating that investors’ expectations are increasing.Bitwise’s Dogecoin ETF application shows that memecoins are increasingly gaining ground in the traditional financial world. The approval process and the decision of the SEC should be followed closely.Author: Besim Şen
U.S. Treasury Secretary Scott Bessent: "We are determined to lower interest rates."
US Treasury Secretary Scott Bessent emphasized on Tuesday that the Trump administration is determined to lower interest rates and that this step will be a critical move for the American economy. Stating that interest rate cuts will ease the financial pressure on households and encourage economic growth, Bessent said that markets also have confidence in this policy.These statements have had a great impact, especially in terms of interest rate expectations from the US Federal Reserve (Fed) and the markets. Because financial markets have reached a strong expectation that there will be at least three interest rate cuts in 2025.Interest Rate Cuts and Their Effects on the EconomyBessent's emphasis in the interview he gave to Fox News shows that the US economy has entered a critical period. The minister stated that lowering interest rates in the first weeks of the Trump administration's second term will be considered a success. The decline in mortgage interest rates in particular is seen as an indicator of the market's confidence in the new administration's policies.Another issue Bessent drew attention to was the decline in US Treasury bond yields. It is stated that the decline in 10-year bond yields may also be related to the loosening of tight regulations in the financial sector.However, inflation is still an important factor. The increase in the annual inflation rate to 3% is considered as a development that may affect the Fed's interest rate cut decisions.Expectations of Three Interest Rate Cuts from the Fed in 2025 are Getting StrongerAccording to market data and traders' positions, expectations of three interest rate cuts in 2025 are getting stronger.Reasons Behind the Interest Rate Cut ExpectationThere was a larger than expected decrease in consumer spending in January 2025.Inflation data announced in February showed that the pace of price increases slowed.The slowdown in economic growth may require the Fed to bring interest rate cuts to an earlier date.According to traders' expectations:The first interest rate cut is expected in June 2025.Additional interest rate cuts may be made in September and December.Futures markets have also adapted to these expectations. Investors who previously saw a low probability of a rate cut in 2025 are now pricing in the Fed cutting rates three times this year.How Will Rate Cuts Affect Crypto and Financial Markets?Rate cuts in the US could have a major impact not only on traditional markets but also on Bitcoin and cryptocurrency markets.Bitcoin, in particular, can become a strong investment tool in low interest and high inflation environments due to its being seen as “digital gold.” It would not be surprising for crypto markets to experience movement along with expectations of rate cuts.Scott Bessent’s rate cut commitment provides important clues about the direction of economic policies for 2025. The Trump administration wants to encourage economic growth by lowering interest rates. However, inflation and other economic factors continue to be critical elements that will directly affect the Fed’s decisions.Author: Besim Şen
USDC Became the First Dollar-Based Stablecoin Approved in Japan
There has been a major development in the cryptocurrency world: USDC has become the first dollar-denominated stablecoin to be approved in Japan. Stablecoin issuer Circle announced this development, stating that SBI Holdings will be the first and only firm to offer USDC to Japanese investors.This move is seen as one of the important steps Japan has taken in terms of cryptocurrency regulations. The regulatory approval of USDC, one of the world's largest stablecoins, in Japan could mark the beginning of a new era for both the stablecoin market and the overall crypto ecosystem.USDC and Stablecoin Regulations in JapanJapan is one of the countries with the strictest financial regulations in the world. The Stablecoin Law, enacted in June 2022, aimed to safeguard the rights of investors by defining digital assets as a financial instrument backed by legal tender.This law:States that stablecoins can only be issued by licensed banks, registered money transfer agencies or trust companies.It requires stablecoins to be pegged to yen or another fiat currency.It gives stablecoin holders the right to convert their assets into cash at par value.These regulations suggest that Japan wants to bring more transparency and security to the stablecoin market. The regulatory approval of USDC in Japan could be a critical milestone in the development of the country’s stablecoin market.How Will USDC Be Used in Japan?USDC will be offered to Japanese investors through a listing by SBI Holdings. SBI will open USDC trading to a limited number of users starting March 12, with plans to launch a full-scale launch later.The approval of USDC as the first and only global dollar stablecoin in Japan is significant for several reasons:Financial Stability: Japanese investors will now have secure and regulated access to a stablecoin denominated in the US dollar.Crypto Adoption: The approval of USDC could lead to greater adoption of stablecoins and crypto assets in general in the Japanese financial ecosystem.Regulatory Compliance: Circle stands out as the first stablecoin issuer to fully comply with strict regulations in Japan.What Does This Development Mean for Crypto Markets?The approval of USDC in Japan is a significant development that will affect not only Japanese investors but also the global crypto market.Global Stablecoin Competition: How other stablecoins like Tether (USDT) will react to this development in Japan is a matter of curiosity.A New Door for Institutional Investors: Financial institutions in Japan may start to see USDC as a reliable digital dollar alternative.A Model for More Countries: Japan’s regulations could become a model for stablecoin regulations in other countries.Circle’s Chief Strategy Officer Dante Disparte described Japan’s stablecoin law as “smart policy and a balancing approach.” According to Disparte, such legal frameworks could make the stablecoin ecosystem more reliable globally.USDC Approval in Japan Could Be the Beginning of a New EraJapan’s approval of USDC is not just limited to the launch of a stablecoin in a country. It is also an indicator of how regulated and secure stablecoins can gain a place in the financial system.USDC became the first dollar-pegged stablecoin to be officially approved in Japan.This development will allow Japanese investors to safely enter the stablecoin market.Other countries around the world can take inspiration from Japan’s stablecoin regulations.How Japan will guide other crypto projects with its stablecoin regulations in the coming period is of great importance for the global crypto ecosystem.Author: Besim Şen
BlackRock CEO Larry Fink: "If there is a big drop, investors should buy!"
One of the most influential names in global financial markets, BlackRock CEO Larry Fink, made statements that resonated in the investment world. Fink called for evaluating opportunities against volatility in the markets by saying, “If there is a big drop, investors should buy.” These statements, which come at a time when expectations for Bitcoin and cryptocurrency markets are increasing, are a critical roadmap for investors.“I Expect a Lot of Volatility in the Next 6 Months”Fink predicted that fluctuations in the markets would increase and stated that he expected a lot of volatility in the next 6 months. He stated that factors such as global economic uncertainties, central bank interest rate policies and geopolitical developments would lead to major fluctuations in the markets. However, Fink emphasized that such fluctuations offer opportunities for smart investors.A Strategic View of BitcoinFink’s statements are considered as part of a large investment strategy, especially for Bitcoin and crypto markets. The increasing adoption of Bitcoin by large institutional investors is increasing market volatility. Fink hinted that Bitcoin could be a strong store of value in the long term, and that declines present a buying opportunity. The approval of BlackRock's Bitcoin ETF and the increasing interest of institutional investors in this area show how important Fink's statements are.Important Messages for InvestorsFink's words contain important tips for investors:See market declines as an opportunity: It is known that large investors make long-term profits by buying in sharp declines.Be prepared for volatility: Major fluctuations are expected in financial markets over the next 6 months.Institutional adoption of Bitcoin is increasing: Major fund managers such as BlackRock see Bitcoin as a serious investment vehicle, and this increases confidence in the market.As a result, Larry Fink's statements carry important signals, especially for those who invest in Bitcoin and crypto markets. Although market fluctuations seem risky, they can offer great profit opportunities for strategic and patient investors. The investment world will be closely following what will happen in the next 6 months!Author: Besim Sen
White House Crypto Summit: Industry Giants Come Together
The crypto world is focused on the White House Crypto Summit to be held in Washington DC on March 7. This important event, led by President Donald Trump, will be a critical meeting that is expected to shape the future of digital assets and blockchain technology. The participation of MicroStrategy founder Michael Saylor and Coinbase CEO Brian Armstrong in particular is an indication of how important the summit is for the cryptocurrency sector.Michael Saylor is a name known for his belief in Bitcoin and MicroStrategy's billions of dollars in BTC investments. His presence at the White House carries a big message in terms of institutional adoption of Bitcoin. Saylor's meetings with government officials could lead to significant changes in the US's attitude towards Bitcoin.On the other hand, the fact that Coinbase CEO Brian Armstrong will also be at the summit is of great importance in terms of regulatory frameworks and the future of crypto markets. As one of the world's largest cryptocurrency exchanges, Coinbase is one of the companies directly affected by regulations in the US. Armstrong is expected to give important messages, especially about the legal processes with the SEC and the future of cryptocurrency exchanges.In addition to these two names, it was reported that Chainlink co-founder Sergey Nazarov and many other important crypto figures will also attend the summit. The gathering of the giant names of the crypto industry in the White House gives strong signals that the US's digital asset policies may be reshaped. The summit is expected to address issues such as stablecoin regulations, decentralized finance (DeFi), CBDCs and the role of Bitcoin in the global economy.While it is eagerly awaited what kind of policy the Trump administration will follow towards cryptocurrencies, this summit on March 7 could be a historic turning point for the sector. All eyes will be on the statements to be made by Michael Saylor and Brian Armstrong. The results of this summit, which is expected to be decisive in terms of regulations and institutional adoption in the crypto ecosystem, will have a direct impact on the markets.Author: Besim Şen
Trump Addressed Congress: 'Golden Age for America'
US President Donald Trump made important statements on the economy, trade and foreign policy in his historic speech to a joint session of Congress on March 5, 2025. The speech, which lasted 1 hour and 40 minutes, was recorded as one of the longest speeches made by US presidents before Congress. Trump focused on economic and trade policies, giving striking messages about new tariffs, productivity-enhancing reforms and international diplomacy.Economy: ‘Rescue’ and Support for Working FamiliesTrump stated that the US economy was entering a recovery process and that inflation was under control. Blaming the Biden administration for economic problems, Trump said, “I am fighting every day to make America livable again.”Following Trump’s Statements:Positive movements were seen in US stock markets.The dollar followed a volatile course in international markets.Criticisms of Trump’s trade policies came from China and Europe.Trump’s speech had a great impact in terms of its effects on the economy, trade and international relations. It is eagerly awaited how these policies will be reflected in the markets and US domestic politics in the coming months.Determination on TariffsTrump has made it clear that he will not back down on tariffs despite the volatility in the markets. Stating that the US aims to collect trillions from import duties, Trump emphasized his determination by saying, “Tariffs are about making America rich again and making America great again.” While the 25% tax on goods coming from Mexico and Canada has come into effect, an additional 10% tax has been imposed on goods imported from China. Trump also stated that the US will continue its plan for reciprocal tariffs that match other countries.Tax PoliciesTrump argued that overtime pay and Social Security benefits should not be taxed. He also suggested that interest payments on American-made cars should be tax deductible. However, it seems unlikely that Trump’s tax policies will be easy to pass in a divided House of Representatives.Sharp Criticism of Global Trade PoliciesTrump targeted countries such as the European Union (EU), India, Mexico and Brazil, claiming that some countries were implementing "unfair" trade practices against the US. He announced that the US would implement "reciprocal tariffs" starting on April 2. He announced his new trade policies by saying, "We will tax them the way they tax us."Trade War Between the US and ChinaThe Trump administration increased the 10 percent customs duty on imports from China to 20 percent. While China was expected to increase tariffs on US products in retaliation, Trump argued that this policy would revitalize the US economy and manufacturing sector.New Customs Duties: 'There Will Be a Small Shock'Trump imposed a 25 percent customs duty on Mexican and Canadian products and a 20 percent customs duty on Chinese products. While there were concerns about the impact of these policies on the American economy, Trump said, "Tariffs are necessary to make America rich again." However, Trump, who had difficulty in receiving applause due to the harsh reactions especially from Canada and Mexico, made light of the situation by saying, “There will be a little shake-up, but it’s okay.”Elon Musk and Government EfficiencyTrump announced that he established a new department in order to prevent waste in the government and appointed Elon Musk to head this department. Stating that Musk would increase government efficiency by reducing federal spending, Trump indicated a major reform process by saying, “This is just the beginning.”“Thank you, Elon!”Trump praised Elon Musk, the world’s richest businessman and CEO of Tesla and SpaceX, for his initiative to cut government spending and increase efficiency. The team led by Musk laid off tens of thousands of federal employees, cut billions of dollars in foreign aid, and canceled many government programs. Trump made the Republicans in the hall laugh by saying, “Everybody here, even this side (referring to Democrats) appreciates it, but they don’t want to admit it.” However, Democratic deputies reacted to this situation by holding banners reading "Thief Musk"."Important" Letter from ZelenskyTrump stated that he received a letter from Ukrainian President Volodymyr Zelensky and said that "Ukraine is ready to come to the negotiating table as soon as possible to achieve lasting peace." He also said that Ukraine is ready to sign the mining agreement.Egg Prices and Inflation: Is Biden Responsible?Trump blamed the administration of former US President Joe Biden for inflation and especially rising food prices. Saying that "Joe Biden allowed egg prices in particular to get out of control," Trump admitted that this increase was due to the deaths of millions of chickens due to bird flul, but turned to the agriculture minister and said, “Do a good job on this.”Will He Buy Greenland?Trump said the US would “somehow” acquire Greenland and announced plans to annex it to US territory. He emphasized the strategic importance of the region to NATO, saying, “We will keep you safe, we will make you rich, and we will take Greenland to levels you can’t even imagine.”Drug Smuggling and Border SecurityTrump praised Mexico’s efforts to extradite cartel leaders to the US, but called for more action on fentanyl smuggling. He called on Congress to pass a bill that would increase border security and reduce drug trafficking.Foreign Enemies and International PoliciesTrump devoted little space to foreign policy in his speech. He said Ukrainian President Volodymyr Zelenskiy was ready to sign a rare earths agreement with the US. However, he also expressed his discomfort with American aid to Ukraine. Trump, who made only a cursory reference to the Israel-Hamas war, did not make a clear statement about the US role in the region.Reply of Representative Al Green from the HouseDemocratic Representative Al Green was removed from the chamber by security guards on the orders of House Speaker Mike Johnson while protesting Trump's speech. Green interrupted his speech by shouting that Trump had no authority to cut the Medicaid program. Other Democrats held silent protests by holding banners.English Declared the Official Language of the USTrump announced that he had declared English the official language of the US. While this decision was seen as a great victory by conservatives, it was met with backlash by some.Citizenship Sale with $5 Million 'Gold Card'Trump announced that he planned to sell US citizenship with the 'Gold Card' application for $5 million. This system aims to attract high-income investors to the US.Panama Canal and Greenland MessageTrump said that they want to take back the Panama Canal and that he is considering annexing Greenland to the US. These statements had a great impact in the international arena.ConclusionDonald Trump's speech to Congress attracted attention with its length and content. He made ambitious statements on many issues from tax policies to foreign policy, from government reforms to trade wars. However, most of the speech was aimed at pleasing the Republican base and lacked messages of bipartisan consensus. The harsh protests of the Democrats and the removal of Al Green from the House were recorded as one of the most striking moments of the speech.
Daily Market Summary with JrKripto 4 March 2025
You can access the "Daily Market with JR Crypto" summary below, where we compile daily important developments in cryptocurrency, global and local markets.Let's analyze the general situation in the markets together and take a look at the most up-to-date evaluations.Bitcoin (BTC) touched the horizontal support area of $ 79,100 - $ 80,763 and the long-term rising trend line. At the same time, the 200-day moving average is in this area, strengthening the support. If the price holds at this level, the levels of $ 85,600 and $ 90,700 can be tested again. However, if support is lost, the next critical area will be the $ 74,100 - $ 74,200 band. The price movement at this support level in the coming days will be decisive in terms of the general direction of the market.Ethereum (ETH) is trading close to the long-term rising trend support and the lower band of the symmetrical triangle. If the $ 2,000 support area is maintained, the possibility of an upward recovery increases. However, if this area is lost, a pullback towards the $1,900 level may be seen. In upward movements, the $2,250 and $2,534 levels are critical resistance points, and if they are overcome, it may gain momentum towards the $2,721 and $3,000 levels. ETH's direction will depend on the price action at these support levels.Crypto NewsBitwise files Dogecoin ETF application with NYSE.SEC delays converting Bitwise 10 Crypto Index fund into ETF. (BTC, ETH, XRP, SOL, ADA, LTC, LINK, SUI, AVAX and DOT)Michael Saylor says Bitcoin's market value will "hit $20 trillion, then $200 trillion".SEC agrees to drop lawsuit against cryptocurrency exchange Kraken.Synthetix to Partner with Ethena on New Staking Mechanism, Offer Higher Yields, and Launch Token BuybacksCryptocurrenciesTop RisersAIC → Up 10.2% to $0.28107096.GPS → Up 9.0% to $0.14611701.DRIFT → Up 4.7% to $0.70388913.GPRO → Up 4.4% to $42.86.PAXG → Up 1.7% to $2,918.62.Top FallersFARTCOIN → Down 33.6% to $0.23140834.AI16Z → Down 32.3% to $0.29402381.WEMIX → fell 27.3% to $0.43424559.KAITO → fell 25.8% to $1.52.IP → fell 24.9% to $5.10.Global MarketsThe markets experienced a sharp decline after US President Donald Trump announced that he would impose 25% tariffs on Canada and Mexico and 20% tariffs on China. Stock indices experienced a sell-off due to growth concerns. The S&P 500 lost 1.76%, the Dow Jones lost 1.48%, and the Nasdaq lost 2.64%.The ISM Manufacturing Index in the US fell to 47.8, signaling a contraction. The new orders index fell to 48.6 after three months of growth, and the production index fell to 50.7. The price index rose to 62.4. The employment index also entered the contraction zone, reaching 47.6. The Atlanta Fed predicted that the US economy would shrink by 2.8% in the first quarter.Only 4 of the 11 sectors in the S&P 500 index finished the day positive. Technology lost 3.52%, energy 3.51%, consumption 2.31%, and the raw materials sector 2.09%. Real estate, basic consumption, healthcare and infrastructure sectors showed slight increases.In the oil market, OPEC+ members announced that they will increase production starting in April. An additional 2.2 million barrels of production per day are planned in the next 18 months. With this announcement, oil prices fell by more than 2%.While Asian markets are on a mixed course, European stock exchanges are expected to start the day with a loss of value.Most Valuable Companies and Stock PricesApple (AAPL) → Market value $3.58T, price per share $238.03, -1.58% daily decrease.Microsoft (MSFT) → Market value $2.89T, price per share $388.49, -2.14% decrease per day.NVIDIA (NVDA) → Market value $2.78T, price per share $114.06, -8.69% decrease per day.Amazon (AMZN) → Market value $2.17T, price per share $205.02, -3.42% decrease per day.Alphabet (GOOG) → Market value $2.04T, price per share $168.66, -2.07% decrease per day.Borsa IstanbulIn February, consumer inflation (CPI) was 2.27% monthly, below market expectations (around 3.0%), while annual inflation fell 3.1 points to 39.05% due to the base effect. Thus, it fell to its lowest level since June 2023. While the total price increase in the first two months was 7.42%, the decline in core inflation indicators continued. While these data opened up space for the TCMB to cut interest rates by 250 basis points in March, April and June, it may need to act more cautiously starting in July.On the manufacturing industry side, the Istanbul Chamber of Industry (ISO) Turkey Manufacturing Purchasing Managers Index (PMI) increased by 0.3 points in February to 48.3. However, this level shows that the sector is still in contraction. In particular, the slowdown in exports caused a decline in total orders, which will lead to industrial production at the end of 2024It caused the index to display a weaker outlook compared to the previous year.On the stock market side, following the strong rise in banking stocks following the inflation data that came in lower than expected, the BIST-100 index closed the day with a 2.6% increase. However, it could not maintain the 10,000 point level during the day. The cash dividend announcements of the banks also increased the risk appetite in the markets. The markets are now focused on the CBRT interest rate decision to be announced on March 6, and the general expectation is for a 250 basis point interest rate cut.Technically, while the BIST-100 index closed at 9,911 yesterday with strong purchases, climbing above the 21 and 50-day moving averages could support the index's movement above the 10,000 level. If closings above the 9,895 level continue, the index can be expected to head towards the 10,121-10,276 band.Stocks That Gained the Most:DAGHL → increased by 9.99% to 33.02 TL.KSTUR → increased by 9.95% to 4,640.00 TL.PAPIL → increased by 9.94% to 15.93 TL.VSNMD → increased by 9.93% to 124.00 TL.EKIZ → increased by 9.91% to 60.45 TL.Stocks That Gained the Most:ESEN → decreased by -9.99% to 31.88 TL.NATEN → decreased by -9.99% to 59.45 TL.ICUGS → decreased by -9.98% to 15.42 TL.BALSU → decreased by -9.32% to 17.51 TL.KLYPV → decreased by -9.09% to 64.00 TL.Companies with the Highest Market Value on Borsa IstanbulQNB Finansbank (QNBTR) → 968.15 billion TL market value, 288.00 TL per share price, -0.35% decrease.Türkiye Garanti Bankası (GARAN) → 577.5 billion TL market value, 137.0 TL per share price, -0.36% decrease.Aselsan Elektronik Sanayi (ASELS) → 447.11 billion TL market value, 100.60 TL per share price, +2.60% increase.Turkish Airlines (THYAO) → 434.01 billion TL market value, 316.25 TL per share price, +0.56% increase.Koç Holding (KCHOL) → 387.99 billion TL market value, 152.8 TL per share, -0.13% decrease.Precious Metals and Currency PricesGold: 3383 TLSilver: 37.36 TLPlatinum: 1127 TLDollar: 36.43 TLEuro: 38.21 TLHoping to meet again tomorrow with the latest news!Author: Besim Şen
The Future of Bitcoin: The Massive Growth Foreseen by Saylor
BTCOne of the most ambitious predictions about Bitcoin's future market value came from MicroStrategy founder Michael Saylor. Saylor predicts that Bitcoin's market value will reach $200 trillion in the long term. This figure means a more than 100-fold increase from Bitcoin's current market value of approximately $1.7 trillion. Is this possible?Today, Bitcoin is still seen as a small player in the financial markets. For comparison, the market value of gold is around $19 trillion. If Saylor's prediction comes true, Bitcoin will overtake gold and become one of the world's largest financial assets. According to this prediction, Bitcoin's price could reach millions of dollars.How can this growth happen? According to Saylor, Bitcoin's average growth of 20% per year is sufficient. In addition, increasing institutional and government-based purchases, such as the US's plan to create a strategic crypto reserve, will support this growth. Bitcoin's limited supply and protection against inflation increase its appeal to investors.However, there are obstacles to this growth journey. Regulatory uncertainties, market volatility, and the adoption process of large financial institutions may affect Bitcoin’s progress. However, the increasing adoption rate increases the possibility of Bitcoin being a strong asset class in the long term.In conclusion, while Bitcoin reaching a market value of $200 trillion may seem like a wild guess today, major changes in the financial world are always possible. With increasing institutional investments and a clearer regulatory framework in the coming years, Bitcoin could play a much larger role in financial markets.Author: Besim Şen
Binance Introduces Stablecoin Restrictions in Europe
First of all, it should be noted that this application will only be valid in countries that are members of the European Union. Since MiCA regulations cover countries that are members of the European Union, there is no change for investors living in countries that are not members of the EU. In other words, Binance's stablecoin policy will continue in the same way for investors living in Türkiye. However, investors using Binance in the EU will need to comply with the new regulationsNew regulations in the cryptocurrency market directly affect investors and exchanges. The European Union's Crypto Asset Markets Regulation (MiCA) introduces new rules for stablecoins. In this context, Binance announced that it will remove stablecoins that are not compatible with MiCA from the list for users in Europe. The affected assets include USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC, and PAXG.So, what does this move mean? What should investors holding USDT, USDC, and other stablecoins do?What is MiCA and Binance's MoveMiCA (Markets in Crypto-Assets) is a comprehensive regulation of the European Union aimed at regulating the cryptocurrency market. This regulation imposes strict conditions especially on stablecoin issuers. Exchanges in Europe must also comply with these new rules.Binance is preparing to delist stablecoins that are not MiCA-compliant in order to continue to serve the European market. This could lead to serious changes in the stablecoin market and require new strategies for investors.1. "I trade with USDT, should I sell it?"If you are using Binance in the European region, the delisting of some stablecoins such as USDT may affect you. However, this does not mean that USDT will disappear completely. Binance will most likely support stablecoins that are MiCA-compliant as an alternative.What should you do?Follow Binance's announcements.Alternatively, consider switching to MiCA-compliant stablecoins (for example, EUR-based stablecoins or regulated assets like USDC).If you have a long-term investment strategy and are using USDT on other platforms, evaluate the situation before panic selling.For non-MiCA-compliant stablecoins, the custody functions will be preserved, and users will be able to deposit and withdraw these assets at any time.2. "My cash is in USDT, what should I do?"The delisting of USDT does not directly mean that your money will be lost. However, trading options may be reduced.Alternatives:Follow the new stablecoins that Binance will support.You can convert your USDT directly to fiat currencies (such as EUR, USDC).3. "I have open futures positions, what should I do?"Binance has not clearly stated whether it will continue to support USDT-based pairs in futures. However, the following possibilities should be considered:If Binance becomes fully MiCA compliant, new stablecoin pairs may be created for futures.If you have open positions, follow Binance's announcements carefully. There may be options such as closing positions or switching to different stablecoins.Among the options, Binance can automatically convert users' relevant assets and liabilities to USDC and cancel all pending orders. We will be following the announcements closely.Strategies for Regular InvestorsInvestors trading in Europe can follow these steps to minimize the impact of stablecoin regulations:Follow Updates: Follow Binance's announcements and MiCA-related developments closely.Evaluate Alternative Stablecoins: Evaluate options for switching to new MiCA-compliant stablecoins.Define a Periodic Transition Strategy: You can be prepared for possible changes by holding assets in both USDT and alternative stablecoins for a while.Don’t panic: Regulations are made to make markets more reliable in the long term. Instead of making snap decisions, evaluate your current options.Binance’s move to delist non-MiCA-compliant stablecoins is a significant change for crypto investors in Europe. However, this does not mean that the stablecoin market will disappear completely. New alternatives will emerge and investors should adapt to this new era. The best strategy is to follow developments closely, make informed decisions and evaluate your investments with a long-term perspective.Author: Besim Şen
David Sacks Liquidated Crypto Assets Under Trump Administration
David Sacks, appointed by US President Donald Trump as an advisor on artificial intelligence and cryptocurrency, announced that he sold all his digital assets such as Bitcoin, Ether and Solana before starting his term in the administration. This move aims to prevent conflicts of interest and ensure transparency in Sacks' new role.Who is David Sacks?David Sacks is a prominent name in the technology world and is one of the co-founders of PayPal. He is also the founder of venture capital firm Craft Ventures and has long been interested in the cryptocurrency sector. Sacks has described Bitcoin as "the evolution of money" and emphasized the potential of crypto assets in the financial system.White House Crypto Summit and the US's Vision for Crypto LeadershipSacks will chair the first White House Crypto Summit to be held next week. This summit aims to bring together crypto industry leaders and the Presidential Digital Assets Working Group to support the US's goal of becoming a global leader in the cryptocurrency sector. The summit will focus on developing clear regulatory guidelines for the sector and encouraging innovation.Avoiding Conflicts of Interest and TransparencySacks’s sale of his personal crypto assets is seen as an effort to avoid potential conflicts of interest in his new role. Although his venture capital firm Craft Ventures continues to invest in crypto startups, Sacks and his company have divested themselves of their crypto assets directly.David Sacks’ new role in the White House and the sale of his personal crypto assets reflect the US’s leadership goal in the cryptocurrency sector and its principle of transparency. The upcoming White House Crypto Summit will be an important step in determining the future of the sector and regulatory frameworks.Author: Besim Şen
MetaPlanet Continues to Make Bitcoin Purchases
Japanese investment giant MetaPlanet continues its interest in Bitcoin. With the latest purchase, the company purchased an additional 156 BTC worth $13.4 million. Thus, its total Bitcoin holdings reached 2,391 BTC. This shows that the company sees market pullbacks as a strategic opportunity. MetaPlanet ranks 14th among public companies holding Bitcoin. While MicroStrategy (214,246 BTC) is in the leader's seat, MetaPlanet has made a rapid entry into the list with 2,391 BTC.Why Is MetaPlanet Buying Bitcoin?MetaPlanet stands out as one of the institutional companies that has been accumulating more and more Bitcoin recently. The company's goal is to use Bitcoin as a long-term store of value. This move is seen as similar to the Bitcoin strategy followed by MicroStrategy. The company states that it sees Bitcoin as a hedge against inflation and considers it as digital gold. The latest purchases are being interpreted as part of a strategy to accumulate Bitcoin at low levels during market corrections.MetaPlanet purchased 156 BTC for $13.4 million at an average price of $85,890 per Bitcoin. As of March 3, MetaPlanet's total Bitcoin assets reached $196.3 million. The company's average cost basis is stated to be $82,100.Metaplanet's Financial Success and Stock PerformanceMetaPlanet's Bitcoin investments have also been positively reflected in the company's financial performance. The company, which has achieved a 31.8% BTC return since the beginning of the year, saw a 20% increase in its stocks on Monday. The company's shares are currently trading at 4,010 yen in Japan. This shows investors' confidence in the company's Bitcoin-focused strategy.MetaPlanet Considers Listing Outside JapanMetaPlanet CEO Simon Gerovich announced that the company has received invitations to list on the New York Stock Exchange (NYSE) and Nasdaq. Gerovich said in a statement on X (Twitter). “We are exploring the best ways to make MetaPlanet shares more accessible to investors worldwide.” The company aims to reach global investors by expanding outside of Japan.Gerovich also stated that MetaPlanet has a future built on the Bitcoin Standard and will continue to grow steadily in this direction. MetaPlanet’s move shows that Japanese companies can play a leading role in financial innovation and long-term value creation.MetaPlanet’s Long-Term Bitcoin StrategyMetaPlanet announced its Bitcoin treasury strategy in April 2024 and has been regularly purchasing BTC since then. The company said it aims to hold 10,000 BTC by the end of 2025 and 21,000 BTC by the end of 2026. This demonstrates MetaPlanet’s long-term commitment to Bitcoin.The Bitcoin accumulation strategy follows a similar model to that followed by major firms like MicroStrategy. Crypto security firm Coinkite says that 78 companies worldwide currently hold Bitcoin in their institutional treasuries. The increasing popularity of exchange-traded funds (ETFs) is also accelerating institutional Bitcoin adoption.MetaPlanet’s Bitcoin purchases further increase institutional interest in digital assets. The company sees market declines as an opportunity and sees BTC as a long-term investment vehicle. Plans to expand to major exchanges like the NYSE and Nasdaq also show that MetaPlanet aims to become a global player.As Bitcoin adoption increases, institutional companies’ BTC strategies will continue to attract more investors. MetaPlanet’s aggressive Bitcoin strategy could lead major financial institutions to follow suit in the coming years.Author: Besim Şen
SEC Dismissed Its Case Against Kraken
The US Securities and Exchange Commission (SEC) has officially dropped its lawsuit against Kraken, one of the largest cryptocurrency exchanges in the US. This development is seen as both a major victory for Kraken and a significant turning point for the cryptocurrency industry.The SEC had accused Kraken of operating as an unregistered securities exchange and had filed a lawsuit against the company in November 2023. However, recent statements indicate that the case will no longer continue.Legal Process Between SEC and KrakenThe SEC had accused Kraken of making hundreds of millions of dollars by regulating the trading of 11 different crypto assets since 2018. The regulator argued that these assets should be considered securities.Kraken, on the other hand, objected to the lawsuit, stating that crypto assets are not securities and that exchanges should not be subject to traditional securities rules. During this process, the company did not make any settlements and refused to make any changes to its business model.In the end, the SEC decided to drop the case. This development is interpreted as a sign that the regulatory approach towards cryptocurrencies in the US is starting to soften.Biden Administration Policy and Trump's InfluenceThe cryptocurrency sector faced strict regulatory pressures during the Biden administration. The SEC took tough steps against many major crypto companies and followed a policy of tightening regulations.However, after the 2024 elections, changes began to occur in the US's crypto policies. With the re-election of Donald Trump, it seems that a more moderate policy has been adopted towards the crypto sector.The SEC's dropping of the Kraken case is considered one of the most concrete signs of this policy change. In fact, the appointment of Paul Atkins, known as a friend of digital assets, as the new chairman of the SEC has had a great impact in the sector.These developments may pave the way for clearer and fairer regulations in the crypto sector.Kraken's Statement: Victory AnnouncementKraken made an official statement after the SEC dropped the case. The company described this development as "an indication that the political pressure that has hindered innovation in the crypto sector has ended."Kraken's prominent statements:They stated that they did not accept any charges, will not pay any fines and will not change their business models.He emphasized that the crypto sector will continue to grow and that regulations should encourage innovation rather than hinder the sector.The Kraken CEO stated that the end of the SEC's pressure is a great gain for the sector and that crypto initiatives will be able to move more comfortably in the coming period.Kraken won its fight with the SEC and this is seen as a great victory in the crypto world. Crypto regulations in the US are evolving into a clearer and innovation-supporting structure.In the coming period, more crypto-friendly regulations and a greater trust environment in the markets are expected. This change, especially in the US, may also affect global crypto markets.Is this decision by the SEC a major turning point for the crypto sector or just the beginning? We will see its effects more clearly in the coming days.Author: Besim Sen
Daily Market Summary with JrKripto 3 March 2025
You can access the "Daily Market with JrKripto" summary, where we compile daily important developments in cryptocurrency, global and local markets, below.Come on, let's analyze the general situation in the markets together and take a look at the most up-to-date evaluations.Bitcoin (BTC) is currently trading at $92,600. According to technical analysis, $90,700 stands out as a strong support area. If the price drops below this level, the decline may accelerate and a pullback to $89,000 and below may occur. In upward movements, $96,000 is followed as a resistance point. If BTC exceeds this level and maintains its permanence above it, an upward movement towards $98,500 and above may be seen.Ethereum (ETH) is currently trading at $2,350. While the $2,260 level stands out as a support zone, if this level is broken, the risk of a pullback to $2,200 and below may increase. In upward movements, $2,550 stands out as a resistance point. If ETH breaks this level, it may gain strong momentum towards $2,650.Crypto NewsBinance will remove non-MiCA compatible stablecoin trading pairs from the list for European users today. The assets to be affected are; $USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC and PAXG.Crypto Czar David Sacks said at the White House crypto summit that "more is coming".With the executive order issued by Trump, the Presidential Working Group was assigned for the Strategic Crypto Reserve, which will consist of XRP, SOL and ADA.Donald Trump announced that Bitcoin and Ether will also be included in the reserve.CryptocurrenciesTop GainersADA → up 47.4% to $0.97525725.FARTCOIN → up 38.4% to $0.3624395.SNEK → up 37.9% to $0.00461275.XCN → up 27.7% to $0.01959982.KET → up 23.3% to $0.37730994.Top FallersTRIBE → down 14.0% to $0.44380794.PNUT → down 12.3% to $0.21913815.IBERA → down 11.9% to $7.03.KAITO → down 10.9% to $2.02.BERA → fell 10.4% to $7.74.Data to Follow Today17:45 | 🇺🇸 US - Manufacturing Purchasing Managers Index (PMI) (February)Reported: 51.6Expected: 51.218:00 | 🇺🇸 US - ISM Manufacturing Purchasing Managers Index (PMI) (February)Reported: 50.6Expected: 50.9Global MarketsUS stock markets rose on the last trading day of the week with strong reaction purchases following the selling pressure created by weakness in consumer confidence and geopolitical developments. S&P 500 gained 1.59%, Nasdaq gained 1.63%, Dow Jones gained 1.39%. In the session where all sectors performed positively, the strongest gains were seen in the finance (2.07%), discretionary consumption (1.80%) and technology (1.71%) sectors.Personal consumption expenditure inflation (PCE) for January increased by 0.3% monthly, in line with expectations. On an annual basis, it decreased from 2.6% to 2.5%, reaching its lowest level since June. Personal income increased by 0.9%, above expectations (0.4%), while spending decreased by 0.2%.Markets will focus on economic data flow this week. While ISM PMI data is being followed today, the most important agenda of the week will be the Nonfarm Payrolls data to be released on Friday.In the US, the volatility indicator VIX index decreased from 21.1 to 19.6 on Friday, indicating that the risk perception in the markets has slightly decreased. European stock markets finished the week flat, rising by 3.3% on a monthly basis. Banking stocks in particular showed a strong performance.Most Valuable Companies and Stock PricesApple (AAPL) → Market value $3.63T, price per share $241.84, +1.91% daily increase.NVIDIA (NVDA) → Market value $3.05T, price per share $124.92, +3.97% daily increase.Microsoft (MSFT) → Market value $2.95T, price per share $396.99, +1.14% daily increase.Amazon (AMZN) → Market value $2.25T, price per share $212.28, +1.70% daily increase.Alphabet (GOOG) → Market value $2.09T, price per share $172.22, +1.18% daily increase.Borsa IstanbulTurkey's economy recorded 3% annual growth in the last quarter of 2024. This rate was in line with market expectations, with a strong increase of 1.7% on a quarterly basis. The main source of growth throughout the year was domestic demand. The growth rate, which was 5.1% in 2023, decreased to 3.2% in 2024.The unemployment rate decreased to 8.4% in January, while the broadly defined unemployment rate increased to 28.1%. The Services Producer Price Index (PPI) increased by 40.44% on an annual basis. The Central Bank of the Republic of Turkey (TCMB) reduced the growth limit for foreign currency loans to 0.5%. According to the data of the Istanbul Chamber of Commerce (ITO), retail prices increased by 45.35% and wholesale prices by 2.33% annually in February. According to the data announced by TÜRK-İŞ, the hunger threshold increased to 23,324 TL.The Treasury announced that it plans to borrow 713.9 billion TL domestically in return for 566.6 billion TL domestic debt service in the March-May period. In March, 124.7 billion TL domestic debt payment was made and 201.2 million TLIt is anticipated that domestic borrowing will be carried out in the amount of TL.Today, domestic inflation and Manufacturing Purchasing Managers Index (PMI) data for February will be announced. Consumer inflation increased by 5.03% in January and was 42.1% annually. In February, inflation is estimated to be 3% monthly and 40% annually. PMI had signaled a contraction by falling to 48.0 in January. A slight recovery is expected in February.Borsa Istanbul (BIST-100) closed Friday with a loss of 0.8% and February with a loss of 3.5%. Banking, gold mining and technology sectors were positively separated. The focus of the new week will be the inflation data to be announced at 10:00. A monthly inflation below 3% may have a positive impact on the markets. January results of the banking sector will also be followed.The BIST-100 index closed at 9659 points last week, while the 9594-9560 band is being monitored as a short-term support level. Staying below the 21- and 50-day averages (9761 and 9798) indicates a weak course. If the index rises above these levels, it can be expected to head towards the 9895-10,000 band. The "uptick" rule introduced for short selling transactions will continue today. Developments regarding the Russia-Ukraine ceasefire talks and US customs tariffs will be monitored abroad. BIST is expected to start the week flat.Stocks with the Most Increase:DOAS → increased by 10.00% to 190.30 TL.SEGY0 → increased by 10.00% to 5.50 TL.GMTAS → increased by 9.99% to 12.77 TL.KSTUR → increased by 9.97% to 4,220.00 TL.AKBNK → increased by 9.96% to 74.00 TL.The Stocks That Decreasing the Most:ESEN → decreased by -9.99% to 31.88 TL.NATEN → decreased by -9.99% to 59.45 TL.BALSU → decreased by -8.80% to 17.61 TL.GRSEL → decreased by -8.57% to 208.00 TL.SUNTK → decreased by -7.03% to 39.66 TL.The Companies with the Highest Market Value on Borsa IstanbulQNB Finansbank (QNBTR) → 917.9 billion TL market value, 290.00 TL per share, +5.84% increase.Garanti Bank of Turkey (GARAN) → 540.54 billion TL market value, 140.8 TL per share price, +9.40% increase.Aselsan Elektronik Sanayi (ASELS) → 426.13 billion TL market value, 97.85 TL per share price, +4.71% increase.Turkish Airlines (THYAO) → 425.38 billion TL market value, 319.00 TL per share price, +3.49% increase.Koç Holding (KCHOL) → 386.47 billion TL market value, 155.4 TL per share price, +1.97% increase.Precious Metals and Currency PricesGold: 3463 TLSilver: 36.51 TLPlatinum: 1115 TLDollar: 36.52 TLEuro: 38.08 TLHoping to meet again tomorrow with the latest news!Author: Besim Şen
