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SoSoValue 暗号資産デイリー | 暗号資産市場は横ばいで取引；Coinbaseは米国の暗号資産法案の支持に疑問

SoSoValue Crypto Daily | Mercado Cripto Negocia Lateralmente; Coinbase Questiona o Apoio à Legislação Cripto dos EUA

SoSoValue Crypto Daily | Крипторынок торгуется в боковике; Coinbase ставит под сомнение поддержку крипто-законодательства США

SoSoValue 加密貨幣每日 | 加密貨幣市場橫盤交易；Coinbase 質疑對美國加密貨幣立法的支持

SoSoValue Crypto Daily | Kripto Piyasası Yatay Seviyede İşlem Görüyor; Coinbase, ABD Kripto Mevzuatı için Destek Sorusunu Soruyor

SoSoValue Crypto Daily | Thị trường Crypto giao dịch đi ngang; Coinbase đặt câu hỏi về việc hỗ trợ Luật Crypto của Hoa Kỳ

SoSoValue 加密货币日报 | 加密货币市场横盘交易；Coinbase 质疑对美国加密货币立法的支持

TL;DR: Crypto market holds flat at $3.19T with BTC at $91,400 (+0.5%) and ETH at $3,110 as PayFi rises 1% while RWA and Layer 2 fall 2%. Coinbase may withdraw support for a key U.S. market-structure bill over potential stablecoin reward limits, risking bipartisan SEC/CFTC clarity and a projected $1.3B 2025 revenue stream. Strategy (MSTR) bought 13,627 BTC for $1.25B, bringing holdings to 687,410 BTC after MSCI kept digital-asset treasury firms in benchmarks, though shares trade below BTC NAV amid structure/debt concerns versus spot ETFs. Standard Chartered plans a crypto prime brokerage under SC Ventures to navigate Basel III’s 1,250% risk weight, advancing institutional trading and leverage infrastructure. South Korea proposes a 5% cap on corporate crypto investments for listed companies and professional investors, potentially channeling new institutional flows into BTC and ETH. BitMine added 24,266 ETH, lifting its treasury near 4.2 million ETH and increasing staked assets, bolstering staking demand. Vitalik Buterin set preemptive quantum resistance as a non-negotiable priority in Ethereum’s maturity roadmap. Tether froze over $182 million in USDT across five Tron wallets, underscoring centralized control and compliance risk. Crypto custodian BitGo filed for a NYSE IPO to raise about $201 million, offering a potential new bellwether for crypto infrastructure.

Market Update
The total crypto market capitalization is holding flat at $3.19 trillion. Bitcoin saw a minor 24-hour gain of 0.5%, trading at $91,400, while Ethereum remained stable at $3,110. Sector performance was mixed, with the PayFi sector gaining 1%, while the RWA and Layer 2 sectors both declined by 2%.
Coinbase Threatens to Withdraw Support for Key US Crypto Bill
Coinbase may pull its support for a critical U.S. crypto market structure bill over a dispute concerning stablecoin rewards, creating significant regulatory risk for the entire industry. The core issue is a potential provision that could restrict or ban platforms like Coinbase from offering yield-like rewards to users holding stablecoins. With stablecoin-related revenue projected to be a major income stream for the exchange—reportedly $1.3 billion in 2025—any such limitation is seen as a direct threat to its business model. The potential withdrawal of support from a major industry player and political donor could derail the bipartisan bill, which is designed to provide much-needed regulatory clarity by defining the roles of the SEC and CFTC. A failure to pass this legislation would prolong the legal and operational uncertainty that currently hampers U.S.-based crypto companies, potentially impacting valuations and slowing institutional adoption.
Strategy Purchases Another $1.25 Billion in Bitcoin Following MSCI Decision
Strategy has acquired an additional 13,627 BTC for $1.25 billion, reinforcing its position as the largest corporate holder of Bitcoin with a total of 687,410 BTC. The purchase was funded through the sale of various classes of company stock, demonstrating continued investor demand for its bitcoin-proxy equity instruments. This move comes just after index provider MSCI decided against removing digital asset treasury companies from its global equity benchmarks in its February rebalancing. An exclusion would have forced index-tracking funds to sell their holdings, creating significant downward pressure on stocks like Strategy (MSTR). While the MSCI decision provides temporary relief for Strategy and similar companies, Strategy's stock currently trades at a discount to the net asset value of its Bitcoin holdings, suggesting market concerns about its corporate structure and debt compared to direct spot Bitcoin ETF exposure.
Standard Chartered Plans Institutional Crypto Prime Brokerage
Global banking giant Standard Chartered is reportedly preparing to launch a prime brokerage service for institutional crypto clients. The operation will be structured within its SC Ventures unit, keeping it separate from the bank's main regulated entity. This strategic decision is likely a move to circumvent stringent Basel III capital requirements, which mandate a prohibitive 1,250% risk weight for direct bank exposure to crypto assets. The launch of a prime brokerage, which provides services like leverage and trade execution to hedge funds and other large investors, signals a significant step forward in institutional crypto adoption. This follows similar moves by JPMorgan, Morgan Stanley, and BNY Mellon, indicating that major financial institutions are actively building the infrastructure needed to facilitate large-scale capital flows into the digital asset market.
South Korea Proposes Corporate Crypto Investment Cap
South Korean authorities are considering a 5% cap on corporate crypto investments for listed companies and professional investors, a move that could unlock new institutional capital flows into top assets like Bitcoin and Ethereum.
BitMine Continues Aggressive Ethereum Accumulation
Ethereum treasury firm BitMine acquired another 24,266 ETH, bringing its total to nearly 4.2 million ETH, and significantly increased its staked assets, reinforcing its role as a major institutional holder and source of staking demand.
Vitalik Buterin Prioritizes Quantum Resistance for Ethereum
Ethereum co-founder Vitalik Buterin outlined a roadmap for the network's maturity, highlighting pre-emptive quantum resistance as a non-negotiable priority to ensure the protocol's long-term security against future technological threats.
Tether Freezes $182 Million in USDT on Tron
Tether froze over $182 million in USDT across five Tron-based wallets, underscoring the centralized control and regulatory compliance risk inherent in the market's largest stablecoin.
Crypto Custodian BitGo Targets $201 Million IPO
Digital asset custodian BitGo filed for an initial public offering on the New York Stock Exchange, seeking to raise approximately $201 million and providing a new potential bellwether stock for the crypto infrastructure sector.