Here is what happened yesterday in the crypto market:
Bitcoin Price Drops as Traders React to Macroeconomic Worries
Bitcoin’s price has declined by around 3% in the last 24 hours, reaching $82,000, as traders reduce their exposure to risk assets due to macroeconomic concerns. This downturn has affected major altcoins like XRP, BNB, and SOL as well [^1^].
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FTX to Commence $11.4B Creditor Payouts in May
FTX, the cryptocurrency exchange that collapsed in 2022, is set to begin distributing $11.4 billion to its main creditors by the end of May, according to court proceedings in Delaware [^2^].
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Terraform Labs Opens Claims Portal for Investors
Terraform Labs, the company behind the failed Luna token and TerraUSD stablecoin, will launch a portal on March 31 for investors to submit claims for losses related to the company’s collapse [^3^].
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Analyst Predicts $1 Trillion Stablecoin Supply Could Fuel Crypto Rally
CoinFund managing partner David Pakman suggests the global stablecoin supply could hit $1 trillion by the end of 2025, potentially acting as a significant driver for cryptocurrency market growth [^4^].
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Analyst Sees Limited EU Bitcoin Adoption Due to Fragmented Regulations
Analysts suggest that institutional adoption of Bitcoin in the European Union is slow. The lack of unified cryptocurrency regulations limits the EU’s potential to establish BTC as a national reserve asset [^5^].
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