rewrite this title US government’s $6.5B BTC stash: a ticking time bomb

Plus: Fake browser extensions are hunting your crypto

GM. Grab your napkin – the Daily Squeeze is about to spill today’s blockchain juice all over your inbox.

💰 Oklahoma and Thailand are thinking about crypto payment systems.

🍋 News drops: fake OKX browser extensions are out in the wild, FTX clarifies some things + more

🍍 Market flavor today

If the market were in a sitcom, it’d be that one character who slips on a banana peel right after saying some goofy stuff, like “I’ve got this!” 🍌 *cue laugh track*

A stronger US dollar, inflation concerns, and fading hopes for interest rate cuts have some investors hitting the sell button.

The pressure has pushed Bitcoin further away from $100K – it dropped below $93K. This dip also showed up in the Fear & Greed Index, which fell slightly to 69 (still in Greed tho’).

Julio Moreno from CryptoQuant noted that BTC holders’ unrealized profits have decreased during this correction. This might sound bad, but it’s actually a healthy cooldown after Bitcoin’s rally past $100K, which might help prevent overly risky behavior (like excessive borrowing). He also flagged $88K as a potential support level.

Meanwhile, analyst Aksel Kibar sees $73.7K as Bitcoin’s final defense line – right around its previous all-time high.

Another curveball in the storyline: the US government’s sitting on a pile of seized 69,370 BTC – worth about $6.5B – and they’ve recently got court approval to sell it.

A sell-off this size could shake the market, but CryptoQuant’s CEO Ki Young Ju pointed out that previous rallies absorbed around $1B per day (so this sale could be handled in about a week).

And now this is the part where we stare into the camera, Jim Halpert-style, like, “What even is life?” *cue the credits and hope for a plot twist next episode*

🥝 Memecoin harvest

Memecoins that turned “what if” into “holy sh*t” gains overnight:

Name

24H Change

SENTAI SENTAI

▲20K%

Sola AI SOLA

▲5K%

aipump AIPUMP

▲2K%

Pippin PIPPIN

▲180%

Data as of 07:10 AM EST.

Check out these memecoins and plenty more here.

“Hello, may I help you?”

“Hey, yes, I’d like this Husqvarna 970471745 Automower 415X Robotic Lawn Mower with GPS Assisted Navigation, Automatic Lawn Mower with Self Installation for Small to Medium Yards (0.4 Acre).”

“Sure thing, how’d you like to pay? Cash? Card?”

“Bitcoin, please.” 😎

Sounds like a scene taken straight outta a crypto bro’s dream.

But you know what? It’s getting closer to becoming normal – we’re seeing regulators and governments worldwide warm up to crypto payments.

Here’s the latest:

1/ Oklahoma

Republican State Senator Dusty Deevers has filed the Bitcoin Freedom Act (SB325).

If passed, it would allow Oklahomans to get their salaries in BTC and spend their BTC at local vendors.

And why does that matter? Deevers broke it down:

Inflation shield: when the money printer goes brrr, the dollar’s value decreases. BTC? Immune to that shizz;

Financial freedom: BTC can’t be frozen or taken away. Your money, your rules;

Borderless payments: no bank? No problem. Bitcoin works anywhere;

Economic boost: Deevers thinks this could attract Bitcoin-focused companies, creating more jobs in the state;

Education: By putting Bitcoin in the spotlight, more people might learn how to use it responsibly.

Our take on this? Say it louder for the people in the back!

2/ Thailand

Heading east, the Thai government plans to pilot BTC payments in Phuket – one of their most popular tourist destinations – as a way to give foreign visitors more payment options.

What’s the plan?

Foreign tourists could register their BTC through a Thai exchange;

Then, they’d verify their identities and could use Bitcoin to pay for goods, services, or even property.

So, that lawn mover situation could really happen irl – and you wouldn’t even need to exchange your money for Thai baht.

Now, you might be like, “Ok, but I’m not from the US, and Phuket’s not on my travel list, so why should I care? 🙄”

First off, damn, chillax ✋😳🤚 Second, here’s why:

The more governments and states implement crypto systems, the harder it becomes for skeptics to call Bitcoin “just a crypto bro thing” = legitimization;

Once payment systems like these catch on, businesses and consumers worldwide will start to see Bitcoin as a normal and practical option = wider adoption.

TL;DR: It’s looking bullish.

Omg, I just got another random idea: imagine getting a pizza with Bitcoin… 😀 Would be so wild, right?.. 😀 Oh wait.

🍋 News drops

🗓 Avi Eisenberg, the guy behind the Mango Markets exploit, got his sentencing postponed to April 10. Guess he’s got a few more months to practice his apology speech?..

🗣 FTX clears the air: the court hasn’t approved the sale of FTX EU or allowed Backpack to pay off creditors.

🇰🇪 The IMF is pushing Kenya to set clear crypto rules. The goal? Keep consumers safe and prevent money laundering.

🚨 Watch out, y’all – fake OKX browser extensions are out in the Firefox plugin store. If it looks shady, it probably wants your crypto more than you do.

💿 Martin Shkreli, aka Pharma Bro, wants the Wu-Tang Clan themselves to step into his legal beef with PleasrDAO. The DAO claims he illegally held onto and threatened to leak digital copies of Once Upon a Time in Shaolin, a one-of-a-kind Wu-Tang album.

🤔 Wondering if Binance is worth it? We’ve done the digging so you don’t have to – get the juicy details in our review.

🍌 Juicy memes