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Abu Dhabi’s Mubadala Investment Company and the California State Teachers’ Retirement System have jointly committed an additional $215 million to 3650 Capital, a U.S.-based alternative commercial real estate lender. This infusion aims to bolster 3650 Capital’s lending strategies and support various investment products offering long-term, fixed-rate financing and transitional loans.

Jonathan Roth, Co-Founder and Managing Partner of 3650 Capital, expressed gratitude for the continued support from these institutional investors, emphasizing their role in enabling the firm to pursue diverse capital solutions and maintain consistent growth. He highlighted the importance of these relationships in identifying new opportunities across U.S. markets and projects.

The new capital will be allocated across 3650 Capital’s primary investment strategies. Both Mubadala and CalSTRS will invest in the Stable Cash Flow strategy, which provides long-term, fixed-rate financing, and the Real Estate Credit Solutions strategy, focused on short-term, value-add financing, including transitional loans. Additionally, CalSTRS will allocate funds to the Special Situations Investment Strategy, targeting equity and structured capital solutions for complex capital structures and loan acquisitions.

Abu Dhabi’s Mubadala Investment Company and the California State Teachers’ Retirement System have jointly committed $215 million to 3650 Capital, a U.S.-based alternative commercial real estate lender. This infusion aims to bolster 3650 Capital’s lending strategies and support various investment products offering long-term, fixed-rate financing and transitional loans.

Jonathan Roth, Co-Founder and Managing Partner of 3650 Capital, expressed gratitude for the continued support from these institutional investors, emphasizing their role in enabling the firm to pursue diverse capital solutions and maintain consistent growth. He highlighted the importance of these relationships in identifying new opportunities across U.S. markets and projects.

The new capital will be allocated across 3650 Capital’s primary investment strategies. Both Mubadala and CalSTRS will invest in the Stable Cash Flow strategy, which provides long-term, fixed-rate financing, and the Real Estate Credit Solutions strategy, focused on short-term, value-add financing, including transitional loans. Additionally, CalSTRS will allocate funds to the Special Situations Investment Strategy , targeting equity and structured capital solutions for distressed capital structures and loan purchases.

This investment follows a series of significant capital commitments to 3650 Capital. In the third quarter of the previous year, the firm secured nearly $430 million from CalSTRS and Singapore’s Temasek, demonstrating sustained confidence from major institutional investors in 3650 Capital’s expertise and platform. The firm currently manages a loan servicing portfolio valued at approximately $18 billion in commercial real estate loans and securities.

Toby Cobb, Co-Founder and Managing Partner of 3650 Capital, noted that as alternative capital providers assess numerous opportunities in the current market, the firm’s proven business model and experienced team position it uniquely to capitalize on these prospects and deliver substantial returns.

Mubadala’s increased investment aligns with its broader strategy to expand its presence in the U.S. real estate credit markets. The sovereign wealth fund’s website indicates a commitment of up to $4 billion, in collaboration with 3650 REIT and CalSTRS, to provide both short and long-term loans across a broad spectrum of real estate lending opportunities.

CalSTRS, managing the largest educator-only pension fund globally, continues to diversify its investment portfolio through strategic partnerships. Its ongoing collaboration with 3650 Capital reflects a commitment to identifying and supporting opportunities that offer stable returns and contribute to the resilience of its investment strategy.

The U.S. commercial real estate market has witnessed a growing role of alternative lenders like 3650 Capital, especially as traditional banks exhibit caution in the current economic climate. This trend underscores the importance of adaptable and innovative financing solutions to meet the evolving needs of the market.

3650 Capital’s ability to attract substantial investments from prominent institutions highlights its reputation and the confidence investors place in its strategies. The firm’s focus on originating, servicing, and asset-managing loans, coupled with its advisory support to global institutions, positions it as a key player in the commercial real estate lending landscape.

Shiba Inu , the cryptocurrency that emerged as a meme coin, has demonstrated a remarkable trend in investor behavior, with a significant majority of its holders displaying long-term commitment. Data from IntoTheBlock reveals that 76% of SHIB holders have maintained their positions for over a year, surpassing the long-term holder percentages of both Bitcoin and Ethereum , which stand at 74% and 73% respectively.

This development is particularly noteworthy given Shiba Inu’s relatively recent entry into the cryptocurrency market compared to its more established counterparts. The data suggests a growing confidence among investors in SHIB’s potential, despite its origins as a meme-based digital asset.

Further analysis indicates that 22% of SHIB holders have retained their tokens for a period ranging from one to twelve months, while a mere 2% have held their assets for less than a month. This distribution underscores a trend toward long-term investment strategies within the SHIB community.

The average holding period for SHIB is reported at 2.6 years, which is notable when compared to Ethereum’s 2.4 years and Bitcoin’s 4.4 years. This metric reflects the duration investors are willing to hold onto their assets, indicating a level of patience and belief in the token’s future appreciation.

Despite this positive indicator of investor confidence, Shiba Inu’s price has experienced fluctuations. At the time of reporting, SHIB was trading at $0.00001616, marking a 3% decline over the past 24 hours. Such volatility is not uncommon in the cryptocurrency market, especially among tokens that originated from internet culture and memes.

The concentration of SHIB holdings among a few large investors, often referred to as “whales,” remains a point of discussion within the community. While high whale concentration can lead to concerns about market manipulation and liquidity, the increasing number of long-term holders may contribute to a more stable market environment for SHIB.

The Shiba Inu ecosystem has been expanding, with developments such as Shibarium, a Layer-2 blockchain solution, and ShibaSwap, a decentralized exchange. These initiatives aim to enhance the utility and adoption of SHIB, potentially influencing investor sentiment and contributing to the observed holding patterns.

In the broader context, the cryptocurrency market has seen a decline in the value of meme coins, with the market capitalization dropping from a peak of $137 billion in December to $56.2 billion by late February 2025. Despite this trend, SHIB’s strong long-term holder ratio suggests a resilient investor base that remains optimistic about the token’s prospects.

The increasing holding times among SHIB investors may also reflect a strategic response to market conditions, with holders opting to retain their assets in anticipation of future value appreciation. This behavior aligns with a broader trend in the cryptocurrency market, where investors are becoming more discerning and adopting long-term perspectives.

The Central Bank of the UAE has unveiled a new symbol for the nation’s currency, the Dirham, marking a significant step in the country’s financial evolution. This initiative aims to bolster the UAE’s position as a leading global financial hub and reflects its commitment to embracing digital advancements in the financial sector.

The newly introduced symbol is derived from the English letter “D” and features two horizontal lines that signify the currency’s stability. This design draws inspiration from the UAE flag, embodying national identity and pride. In its digital form, the symbol is encased within a circle, incorporating the flag’s colors—green, white, red, and black—to emphasize security and continuity, while also echoing the shape of a digital token. The design’s curves are influenced by traditional Arabic calligraphy, lending it an elegant and robust presence.

The adoption of this symbol aligns with the CBUAE’s recent accession to the FX Global Code, a set of global principles promoting integrity and transparency in the foreign exchange market. By joining this voluntary code, the UAE becomes the first central bank in the Arab region to commit to these standards, underscoring its dedication to fair and transparent practices in the financial sector.

Khaled Mohamed Balama, Governor of the CBUAE, emphasized that the introduction of the new Dirham symbol reflects the nation’s vision for a modern and innovative financial ecosystem. He highlighted that this move is part of broader efforts to enhance the international profile of the UAE’s currency, especially as digital finance continues to gain momentum globally.

The CBUAE has also developed an integrated and secure platform for the issuance, circulation, and use of the Digital Dirham, including a Digital Dirham wallet. This platform is designed to ensure the seamless adoption of the digital currency, providing users with a secure and efficient means of conducting transactions. The issuance of the Digital Dirham is expected to take place in the last quarter of 2025 for the retail sector, marking a pivotal moment in the UAE’s financial landscape.

The introduction of the new Dirham symbol and the forthcoming Digital Dirham are anticipated to have a profound impact on the UAE’s economy. By embracing digital currency, the nation aims to enhance financial inclusion, streamline payment systems, and reduce transaction costs. Moreover, these initiatives are expected to attract international investors and businesses, further solidifying the UAE’s status as a global financial center.

Financial analysts have noted that the UAE’s proactive approach to digital finance positions it ahead of many other nations in the region. The adoption of a distinct currency symbol and the development of a digital currency demonstrate the country’s commitment to innovation and its readiness to adapt to the evolving financial landscape.

However, the transition to digital currency also presents challenges. Ensuring robust cybersecurity measures, maintaining public trust, and navigating regulatory considerations are critical factors that the CBUAE will need to address as it moves forward with these initiatives. The central bank has assured that it is implementing comprehensive strategies to tackle these challenges, prioritizing the security and stability of the UAE’s financial system.

The unveiling of the new Dirham symbol has been met with positive reactions from various sectors within the UAE. Businesses and consumers alike have expressed optimism about the potential benefits of the Digital Dirham, including increased convenience and efficiency in transactions. The integration of traditional design elements with modern digital features in the new symbol has also been praised for effectively encapsulating the UAE’s cultural heritage and forward-thinking vision.

Australian cryptocurrency investors are facing substantial financial threats due to an elaborate scam where fraudsters impersonate representatives from Binance, one of the world’s leading cryptocurrency exchanges. The Australian Federal Police , in collaboration with the National Anti-Scam Centre and Binance Australia, have initiated Operation Firestorm to combat these fraudulent activities. This operation has identified over 130 Australian victims targeted through sophisticated phishing techniques.

Scammers have been sending text messages that closely mimic legitimate communications from Binance. These messages often include false verification codes and direct recipients to counterfeit customer service hotlines. Once contact is made, victims are manipulated into transferring their cryptocurrency assets into so-called “trust wallets” controlled by the scammers. The fraudulent messages are particularly deceptive, appearing within existing Binance communication threads, exploiting vulnerabilities in telecommunications systems that allow sender IDs to be spoofed.

AFP Commander of Cybercrime Operations, Graeme Marshall, emphasized the challenges in recovering stolen funds, noting that once assets are transferred to accounts under the scammers’ control, they are swiftly moved through a network of wallets and money laundering channels, complicating seizure or recovery efforts. Marshall advised individuals who suspect they have been targeted to report the incident to their financial institution or cryptocurrency exchange and to file a report with law enforcement via ReportCyber.

Binance’s Chief Security Officer, Jimmy Su, highlighted the importance of user education and verification to combat such scams. He recommended that users verify communications through official channels and remain cautious of unsolicited messages, especially those prompting urgent actions. Su also mentioned that Binance is developing new security features aimed at helping users identify and avoid phishing scams.

The Australian Competition and Consumer Commission’s Deputy Chair, Catriona Lowe, echoed these sentiments, urging the public to authenticate any communications through official channels to avoid falling victim to impersonation scams. She stressed the importance of vigilance and thorough verification of investment opportunities to prevent financial losses.

The U.S. Department of the Treasury has lifted sanctions against Tornado Cash, a cryptocurrency mixer previously accused of facilitating extensive money laundering activities, including transactions linked to North Korean cybercriminals. This decision follows a series of legal challenges questioning the Treasury’s authority to impose such sanctions on decentralized software protocols.

In August 2022, the Treasury’s Office of Foreign Assets Control sanctioned Tornado Cash, alleging its involvement in laundering over $7 billion since its inception in 2019. Notably, OFAC claimed that the North Korean hacking group Lazarus utilized the platform to launder more than $455 million. The sanctions marked a significant move by the U.S. government to regulate the use of cryptocurrency mixers, which are designed to obfuscate transaction trails on blockchain networks.

The sanctions faced immediate opposition from various quarters of the cryptocurrency community. Six users of Tornado Cash, with financial backing from the cryptocurrency exchange Coinbase, filed a lawsuit challenging OFAC’s action. They argued that sanctioning open-source, self-executing software exceeded the agency’s statutory authority under the International Emergency Economic Powers Act . The plaintiffs contended that the immutable smart contracts constituting Tornado Cash could not be considered property subject to sanctions.

In November 2024, the U.S. Court of Appeals for the Fifth Circuit ruled in favor of the plaintiffs, stating that OFAC had overstepped its authority. The court held that the smart contracts underlying Tornado Cash were not property and, therefore, not subject to sanctions under IEEPA. This ruling underscored the challenges regulators face when applying traditional legal frameworks to decentralized technologies.

Following the court’s decision, the Treasury conducted a review of the legal and policy issues surrounding the use of sanctions in the context of evolving technologies. On March 21, 2025, the Treasury announced the removal of Tornado Cash and associated Ethereum wallet addresses from the Specially Designated Nationals list. In a statement, Treasury Secretary Scott Bessent emphasized the department’s commitment to combating illicit activities in the digital asset space while acknowledging the need to adapt regulatory approaches to technological advancements.

Despite the delisting, the Treasury reiterated its concerns about North Korea’s state-sponsored hacking and money laundering campaigns. The department stressed the importance of securing the digital asset industry from abuse by illicit actors to maintain U.S. leadership in financial innovation and inclusion. The Treasury also indicated that it would continue to monitor transactions that could benefit malicious cyber actors or the North Korean regime.

The legal proceedings against individuals associated with Tornado Cash have also been noteworthy. In 2023, two co-founders of Tornado Cash were charged with facilitating over $1 billion in money laundering, including transactions linked to the Lazarus Group. One of the co-founders, Roman Storm, is awaiting trial and has denied any criminal activity. Additionally, in May 2024, developer Alexey Pertsev was sentenced to five years and four months in prison in the Netherlands for money laundering related to his involvement with Tornado Cash.

The removal of sanctions against Tornado Cash has elicited varied reactions from the cryptocurrency community and regulatory observers. Proponents of decentralized technologies view the court’s decision and subsequent delisting as a victory for open-source software development and financial privacy. They argue that sanctioning code rather than individuals or entities sets a concerning precedent for technological innovation.

Conversely, critics express apprehension that the delisting could embolden malicious actors to exploit similar platforms for illicit purposes. They emphasize the necessity for regulatory frameworks that effectively address the misuse of privacy-enhancing technologies without stifling innovation. The case of Tornado Cash highlights the complexities regulators face in balancing the promotion of technological advancement with the imperative to prevent criminal exploitation of emerging technologies.

The Treasury’s decision to lift sanctions against Tornado Cash underscores the dynamic nature of regulatory approaches to decentralized technologies. As the digital asset landscape continues to evolve, regulatory bodies worldwide are grappling with the challenge of applying existing legal frameworks to novel technological constructs. The outcome of the Tornado Cash case may serve as a reference point for future policy discussions on regulating decentralized platforms and the broader implications for financial privacy and security.

In the wake of the delisting, stakeholders in the cryptocurrency industry are closely monitoring potential regulatory responses and the development of new guidelines tailored to address the unique attributes of decentralized technologies. The balance between fostering innovation and ensuring robust safeguards against illicit activities remains a central theme in the ongoing discourse on cryptocurrency regulation.

The International Monetary Fund has officially incorporated Bitcoin and other cryptocurrencies into its global economic statistics, reflecting their growing significance in the financial landscape. The IMF’s Balance of Payments Manual, Seventh Edition , released on March 20, 2025, provides detailed guidance on the classification and treatment of digital assets, marking a pivotal shift in international financial reporting standards.

In this updated manual, the IMF categorizes digital assets into two primary types: fungible and non-fungible tokens. Fungible tokens, such as Bitcoin, are further divided based on the presence or absence of corresponding liabilities. Cryptocurrencies like Bitcoin, which do not have associated liabilities and function as mediums of exchange, are classified as non-produced nonfinancial assets. These assets are recorded separately in the capital account, acknowledging their unique nature and economic role.

Conversely, digital assets with corresponding liabilities, such as certain stablecoins, are treated as financial instruments. This distinction underscores the IMF’s effort to accurately reflect the economic realities of various digital assets within the global financial system.

The BPM7 also addresses the classification of tokens tied to specific platforms. For instance, cryptocurrencies like Ethereum and Solana, which are integral to their respective platforms, may be treated akin to equity holdings in the financial account. This approach aligns with traditional financial principles, where ownership of platform-specific tokens is comparable to holding equity in a company.

The IMF recognizes activities such as staking and mining, which are essential for validating cryptocurrency transactions, as income-generating services. Rewards from these activities are treated similarly to dividends and are recorded as income, depending on the size and purpose of the holdings. This recognition reflects the growing economic impact of digital assets and adds visibility to related services in macroeconomic statistics.

The inclusion of cryptocurrencies in the IMF’s standards signifies a broader trend of acknowledging the role of decentralized digital currencies in the financial system. By treating cryptocurrencies as non-produced assets, the IMF acknowledges their unique characteristics and the need for specialized economic analysis.

This development is expected to enhance transparency and provide a more comprehensive view of global economic activities. It also highlights the IMF’s commitment to staying abreast of technological advancements and their impact on the global economy. As cryptocurrencies continue to evolve, this recognition by the IMF sets a precedent for other international organizations and governments to follow suit, potentially leading to more standardized and regulated approaches to digital currencies.

The IMF’s updated framework also addresses the complexity of staking and crypto yields, noting that rewards from holding tokens could be treated like equity dividends and recorded as income, based on the size and purpose of the holdings. Notably, this update helps countries better track the economic impact of digital assets. The IMF now treats activities like mining or staking, which help validate crypto transactions, as services. These will be included in computer services exports and imports.

Ethereum’s decentralized finance ecosystem has experienced a substantial contraction, with total value locked plummeting by $29 billion over the past 30 days. This decline has raised concerns about Ethereum’s dominance in the DeFi landscape, especially as rival blockchains gain traction.

As of March 19, Ethereum’s TVL stands at $89 billion, down from $118 billion recorded on February 19, marking a 25% reduction in total deposits within its DeFi platforms. This downturn coincides with a surge in the Bitcoin to Ethereum ratio, which has reached an all-time high. Currently, with Bitcoin trading at $83,000 and Ethereum at $1,900, one BTC can now purchase over 44 ETH, reflecting a 30% increase from the 1:33 ratio observed on February 25.

Several factors have contributed to this sharp devaluation. The introduction of new trade tariff policies has unsettled global markets, prompting crypto investors to seek safety in Bitcoin over Ethereum. Additionally, Ethereum’s ongoing network scalability issues and unsuccessful updates have dampened investor confidence. Historical data indicates that Ethereum’s devaluation has accelerated post-Merge, with multiple failed network upgrades pushing ETH supply above pre-Merge levels.

The Ethereum Foundation attempted to regain control by reshuffling leadership in February, but investor sentiment remains bleak following the disappointing Pectra and Hoodi updates. This has led to a massive capital outflow from Ethereum’s DeFi ecosystem, with TVL dropping from $118 billion on February 19 to $89 billion on March 19, marking a $29 billion capital loss within a month—a 25% decline in total deposits across Ethereum DeFi.

The declining on-chain statistics align with lower demand for leveraged longs in ETH futures. The premium of these futures over spot markets has dropped below the 5% neutral level to only 3%—the lowest in over a year—indicating diminished trading confidence.

Ethereum’s decentralized exchange volumes have seen a significant decline, with volumes decreasing approximately 30% over the last week. Specific protocols within the Ethereum network have exhibited notable drops in activity, with the Maverick Protocol experiencing an 85% reduction and Dodo’s volume decreasing by 45%.

Despite these challenges, Ethereum maintains its leadership in total value locked, currently at $47.2 billion. However, a 9% weekly drop has significantly narrowed the gap with competitors. In contrast, BNB Chain’s deposits increased by 6% in the past week, while Ethereum’s key DeFi projects saw major losses, including an 11% drop in Stargate Finance’s TVL, a 9% decline in Maker’s deposits, and a 6% reduction in Spark Finance.

The $29 billion drop in Ethereum’s DeFi TVL, coupled with continued scalability struggles and external economic pressures, heightens bearish risks. As liquidity diminishes in the DeFi ecosystem, ETH coins previously locked in smart contracts are entering the short-term market supply. If capital outflows persist, ETH could face further downward pressure, potentially retesting the $1,500 support zone. Additionally, with Bitcoin’s dominance widening, ETH risks losing more market share in the near term, especially if upcoming economic policies do not meet market expectations.

The declining interest in Ethereum-based exchange-traded funds further exacerbates the situation. Over the past seven days, these digital assets have suffered cumulative outflows of $265.4 million, reflecting diminished institutional interest.

In response to these challenges, Ethereum’s developers are under increasing pressure to address scalability issues and restore investor confidence. The upcoming Hoodi update is anticipated to tackle some of these concerns, but its success remains uncertain. Meanwhile, competitors like Solana and BNB Chain are capitalizing on Ethereum’s setbacks, attracting users and liquidity with their own DeFi offerings.

Bitcoin, Ether, and Solana are anticipated to experience price fluctuations between 3% and 5% as the Federal Reserve prepares to announce its latest monetary policy decisions.

As of Wednesday, Bitcoin has seen a modest uptick, trading at $83,290—a 1.2% increase, though it remains 31% below its January peak. Ethereum and Solana have also registered gains, with Ethereum rising by 1.5% and Solana by 1.6%.

The Federal Open Market Committee is set to release its rate review, along with growth and inflation projections. Market consensus suggests that the Fed will maintain current interest rates. However, investors are keenly awaiting Chair Jerome Powell’s press conference for indications of potential shifts toward more accommodative monetary policies, especially in light of concerns surrounding the labor market and consumer spending.

Volmex’s one-day implied volatility indices, which measure expected price fluctuations, suggest that Bitcoin could see a 24-hour price swing of approximately 3.31%. Similarly, Ethereum and Solana are projected to experience movements of 5.25% and 5.73%, respectively.

Historically, Bitcoin has exhibited notable volatility around FOMC meetings. For instance, on August 5, 2024, Bitcoin’s price declined by 7.2%, while Ethereum dropped by 10.1%, coinciding with macroeconomic announcements. These movements were accompanied by surges in the Bitcoin Volmex Implied Volatility Index, underscoring the sensitivity of cryptocurrency markets to such events.

Market participants are also reflecting on President Trump’s recent announcement of a U.S. “crypto reserve,” which includes assets like XRP, Cardano , and Solana . This initiative added over $200 billion to the cryptocurrency market’s value, with XRP’s market capitalization alone increasing by $44 billion. Bitcoin and Ethereum were subsequently added to the reserve, leading to a 9% surge in Bitcoin’s price to $93,000.

Despite these developments, Bitcoin’s price has faced challenges, hitting a four-month low of $76,867 before recovering slightly to $80,480. This decline is partly attributed to investor disappointment over the government’s stance on active cryptocurrency purchases.

Analysts caution that Bitcoin is at a critical juncture, with potential support levels around $73,000. Weakness at this technical level could signal further declines, drawing parallels to the 2021 crypto market downturn. Market dynamics, including the prevalence of speculative assets like meme coins, suggest a fragile foundation, with retail traders holding depreciating assets.

Strategy, formerly known as MicroStrategy, has unveiled plans to issue up to $21 billion in preferred stock to fund additional Bitcoin acquisitions. This move underscores the company’s ongoing commitment to integrating cryptocurrency into its corporate strategy.

The firm, led by Executive Chairman Michael Saylor, has become a prominent institutional investor in Bitcoin. As of February 5, 2025, Strategy reported holding approximately 499,096 bitcoins, valued at over $41 billion. This substantial accumulation reflects the company’s aggressive approach to cryptocurrency investment.

To finance these acquisitions, Strategy has been leveraging various financial instruments. In February 2025, the company announced a $584 million offering of 8% perpetual convertible preferred stock, designated under the ticker symbol “STRK” on the Nasdaq Global Select Market. The net proceeds from this offering were earmarked for further Bitcoin purchases and general corporate purposes.

The latest proposal to issue up to $21 billion in preferred stock represents a significant escalation in Strategy’s capital-raising efforts. This initiative is part of the company’s broader strategy to secure $42 billion over the next few years through various securities offerings, including fixed-income instruments and common stock sales, all aimed at bolstering its Bitcoin reserves.

However, this aggressive capital-raising approach has raised concerns among investors and analysts. The potential issuance of such a substantial amount of preferred stock could lead to significant dilution of existing shareholders’ equity. Moreover, the high yield associated with the preferred stock, approaching 9.5%, reflects the increased financial risk and the company’s lack of ongoing earnings from its traditional software business.

Strategy’s heavy reliance on Bitcoin has also been a point of contention. While the company’s stock price has experienced substantial growth since pivoting to a Bitcoin-centric strategy, it has not always kept pace with Bitcoin’s performance. This discrepancy has led to questions about the sustainability of Strategy’s approach, especially given the inherent volatility of the cryptocurrency market.

Despite these challenges, Strategy continues to advocate for Bitcoin’s role as a transformative asset. The company’s leadership remains steadfast in its belief that integrating Bitcoin into its corporate treasury strategy will yield long-term benefits, both for the company and its shareholders.