Gemini has set a new Guinness world record for the largest aerial display of a currency symbol using 1,000 drones forming the Bitcoin symbol. On March 13 at 8:10 PM CT, the crypto exchange hosted a Bitcoin (BTC) -drone show…

Gemini sets new world record with Bitcoin lightshow featuring 1,000 drones

US President Trump’s outspoken acceptance of near-term economic hardship has 
placed risk assets—including Bitcoin (BTC) and the broader crypto market—under 
mounting pressure. According to a thread by The Kobeissi Letter on X, 
President Trump’s strategy revolves around tolerating significant “short term 
pain” in order to drive down inflation and facilitate the refinancing of over 
$9 trillion in US debt. Will Crypto Survive Trump’s &#8216;Short-Term Pain&#8217; 
Strategy? The impact on cryptocurrencies has been immediate and pronounced. 
While US equities have shed an estimated $5 trillion in market value this 
year, digital assets have also suffered steep losses. Since President Trump’s 
inauguration on January 21, Bitcoin (BTC) has declined by approximately -23%, 
Ethereum (ETH) has tumbled by roughly -43% and the broader crypto market has 
experienced even more dramatic price drops. Related Reading: Crypto Bull Run 
Isn’t Over—It’s Just Changing, Says Analyst Although high volatility is 
nothing new in crypto, the synchronized downturn suggests that crypto assets 
are not immune to macroeconomic forces. The Kobeissi Letter adds, “Based on 
our research, President Trump made this conclusion BEFORE inauguration. 
However, he began formally articulating it on March 6th. Below is the headline 
that destroyed investor confidence in 2025. President Trump is no longer the 
‘stock market’s President’ (for now).” The Kobeissi Letter points to March 9 
as the date President Trump further confirmed his stance by noting that 
America is in a “period of transition” and that it will “take a little time,” 
implying a willingness to tolerate near-term market turbulence. During this 
period, Commerce Secretary Lutnick’s statement on March 6—“Stock market not 
driving outcomes for this admin”—was followed by Treasury Secretary Bessent’s 
remark, “Not concerned about a little volatility.” Although The Kobeissi 
Letter’s analysis notes that the administration’s viewpoint solidified before 
inauguration, it cites President Trump’s urgent focus on the year 2025, when 
$9.2 trillion in US debt will either mature or need to be refinanced. The 
thread states, “First, as we have previously noted, the US is facing a massive 
refinancing task. In 2025, $9.2 TRILLION of US debt will either mature or need 
to be refinanced. The quickest way to LOWER rates ahead of this colossal 
refinancing would be a recession.” Related Reading: Economic Turmoil: Crypto 
Market Loses 25% Of Value As Recession Worries Mount Beyond debt concerns, The 
Kobeissi Letter also highlights the administration’s drive to reduce oil 
prices and the US trade deficit as part of the same economic calculation. 
Since President Trump took office, oil has fallen by over 20%. “Furthermore, a 
clearly defined part of President Trump’s strategy has been to LOWER oil 
prices. Oil prices are down 20%+ since Trump took office. This morning, 
Citigroup said oil prices falling to $53 would lower inflation to 2%. What 
would lower oil prices? A recession.” Meanwhile, the administration’s 
extensive use of tariffs, which The Kobeissi Letter describes as “levying 
tariffs on almost ALL US trade partners,” is chipping away at GDP growth 
estimates, further hinting that a deliberate slowdown is in motion. The 
Kobeissi Letter also notes, “On top of this, DOGE and Trump are attempting to 
cut TONS of government jobs. These are the same jobs that have accounted for 
much of the recent job ‘growth’ in the US. Government jobs have risen by 2 
million over the last 4.5 years. Cutting these jobs will spur a recession.” 
DOGE leader Elon Musk appears resigned to short-term declines. Even after 
Tesla (TSLA) recorded its seventh-largest historical drop on March 10, Musk 
posted that “It will be fine long-term.” For crypto traders and investors, the 
“short term pain” scenario by Trump is currently dictating the price action. 
The question, the analysts from The Kobeissi Letter posit, is whether this 
will lead to a more favorable economic landscape in the long run. “Is the 
‘short term pain’ worth the ‘long term gain’ in President Trump’s economic 
strategy?”. At press time, the BTC price remained under heavy downward 
pressure and traded at $82,000. Featured image from Shutterstock, chart from 
TradingView.com

Crypto Faces Uncertain Future As Trump’s ‘Short-Term Pain’ Plan Unfolds

Argentina&#8217;s securities regulator has finalized rules for virtual asset service 
providers (VASPs), which cover general codes of conduct and custody 
requirements for cryptocurrency exchanges and other platforms facilitating 
digital asset transactions.
The regulations were published on March 13 by the National Securities 
Commission, also known as CNV, under General Resolution No. 1058.
According to a translated version of the announcement, the regulations impose 
&#8220;obligations regarding registration, cybersecurity, asset custody, money 
laundering prevention, and risk disclosure&#8221; on VASPs operating in the country.
The stated goal of the rules is to guarantee &#8220;transparency, stability, and 
user protection in the crypto ecosystem,&#8221; the announcement said.
Argentine tax lawyer Diego Fraga said the final guidelines include mandatory 
separation of company and client funds, annual audits and monthly reporting 
with the CNV.
_Source:__Diego Fraga_
Since 2024, VASPs operating in Argentina have been required to register with 
the registry of virtual asset service providers, also known as PSAV. According 
to the new rules, registrations may be revoked for noncompliance, and any 
company operating without registration may be blocked by court order.
Individuals who are registered with the PSAV have until July 1 to conform to 
the new rules. Companies incorporated in Argentina have until Aug. 1, and 
those incorporated abroad have until Sept. 1.
&#8220;Those who do not comply with the established requirements and deadlines will 
not be able to operate in Argentina,&#8221; said Roberto E. Silva, the CNV&#8217;s 
president.
_**Related:**__**Argentina &#8216;s crypto adoption hopes dim after Milei&#8217;s LIBRA 
memecoin scandal**_
## Despite LIBRA scandal, crypto adoption rising in Argentina
As global law firm DLA Piper explained, Argentina&#8217;s push for clearer crypto 
regulations intensified one year ago after the CNV implemented registration 
requirements and said crypto issuers would be subject to securities laws.
The regulatory pivot came amid a growing wave of crypto adoption in the 
country, which was partly driven by the rapid depreciation of the Argentine 
peso.
By mid-2024, crypto adoption in Argentina had surged as locals flocked to 
stablecoins like Tether&#8217;s USDt (USDT).
An October Chainalysis report determined that Argentina had overtaken Brazil 
as the largest Latin American country for crypto inflows at roughly $91 
billion between July 2023 and June 2024.
_Argentina tops Latin America &#8216;s crypto adoption list in terms of value 
received between July 2023 and June 2024. Source: Chainalysis _
Crypto adoption trends remain positive in the face of the LIBRA scandal 
involving President Javier Milei. As Cointelegraph reported, Milei publicly 
endorsed the memecoin before it suddenly plunged in value, fueling allegations 
of a rug pull.
_**Magazine:**__**Caitlyn Jenner memecoin &#8216;mastermind&#8217;s&#8217; celebrity price list 
leaked**_

Argentina finalizes rules for virtual asset providers

Bitcoin Magazine 
Kentucky Senate Passes Bill Protecting Bitcoin Self-Custody Rights
Legislation ensuring Bitcoin self-custody rights and protecting mining now 
heads to the Governor&#8217;s desk for final approval.
This post Kentucky Senate Passes Bill Protecting Bitcoin Self-Custody Rights 
first appeared on Bitcoin Magazine and is written by Nik.

Kentucky Senate Passes Bill Protecting Bitcoin Self-Custody Rights

The growing stablecoin supply suggests increased market liquidity and 
potential for continued crypto market expansion and trading activity.
The post Rising stablecoin supply signals crypto&#8217;s bull run isn&#8217;t over yet 
appeared first on Crypto Briefing.

Rising stablecoin supply signals crypto’s bull run isn’t over yet

Based on whispers from unnamed insiders quoted by Reuters, Russia is 
reportedly turning to bitcoin, ether, and stablecoins as tools in its oil 
trade with China and India. These insiders, described as having &#8220;direct 
knowledge of the matter,&#8221; opted to stay in the shadows, citing the delicate 
nature of the topic. Shadow Claims: Russia Allegedly […]