Greetings Bitcoiner,

Welcome to Issue #208 of Bitcoin Breakdown, where it’s OPSEC Wednesday special, followed by the latest Quick Bits snippets.

But first, today’s Top Stories:

• 🇪🇺 BlackRock Moves Bitcoin Blitz To Europe

• ⚖️ Chainalysis Sued for Alleged Celsius Scam Deception

• 🎮 GameStop Joins the Bitcoin Big Leagues

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TODAY’S TOP STORIES

🇪🇺 BlackRock Moves Bitcoin Blitz To Europe

BlackRock, the world's biggest asset manager, is launching a Bitcoin exchange-traded product in Europe, following its US success. The iShares Bitcoin exchange-traded product will trade on Xetra, Euronext Paris, and Euronext Amsterdam. A 0.15% fee waiver until year-end makes it competitive. While Europe's Bitcoin and crypto exchange-traded product market is smaller than the US's, BlackRock's entry could boost adoption and liquidity. MiCA regulations are said to provide a clear framework and signal a mature, institutional-level acceptance of Bitcoin. BeInCrypto

⚖️ Chainalysis Sued for Alleged Celsius Scam Deception

Celsius Network debtors are suing Chainalysis for allegedly 'propping up' a fraudulent $3.3B audit that misled customers. The lawsuit claims Chainalysis knowingly fueled the scam, deceiving customers and accelerating Celsius' collapse. The audit, based on a scheme by Celsius founder Alex Mashinsky, included the platform's native token to inflate its Assets Under Management, for which Chainalysis had admitted that its press release was 'deceptive and misleading.' The Rage

🎮 GameStop Joins the Bitcoin Big Leagues

GameStop, the meme stock darling, just added Bitcoin to its treasury reserve assets, mirroring MicroStrategy's successful strategy. The move, boosting GameStop's stock, involves investing a portion of its nearly $4.8B in cash and future issuances in BTC and US dollar stablecoins. The company made the announcement in its 2024 annual report, which it filed with the Securities and Exchange Commission after the closing bell. ‘We have not set a maximum amount of Bitcoin we may accumulate, and may sell any Bitcoin we may acquire, the company said in its SEC filing. Decrypt

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QUICK BITS

• US spot Bitcoin ETFs see the seventh straight day of net inflows on Monday, with a total of $860.6M added during the streak.

• Arthur Hayes, co-founder of BitMEX, predicts Bitcoin is more likely to reach $110K than retest $76.5K due to easing monetary policy.

• Coin Metrics reports that Bitcoin miners' revenue hit $3.7B in Q4 2024, up 42% from Q3, stabilizing post-halving as miners adapt amid challenges.

• Tether CEO Paolo Ardoino says the company is engaging with a 'Big Four' accounting firm for a reserve audit, calling it 'top priority'.

• Trump Media partners with Crypto.com for a 'Made in America' ETF launch despite the exchange's questionable financial history.

• Timothy Massad, former Commodity Futures Trading Commission (CFTC) chair, says President Trump's meme coins and World Liberty Financial ventures raise conflict of interest and corruption concerns.

• North Carolina lawmakers introduce bills allowing up to 5% of state retirement funds to be allocated to Bitcoin and crypto.

• Paul Atkins, incoming Securities and Exchange Commission chair, owns up to $6M in crypto-related assets, but no BTC.

• US SEC schedules four more roundtables with experts from April to June to discuss Bitcoin and crypto.

• Peter Schiff satirically requests BTC for his 62nd birthday.

• Sam Altman's World Network in talks with Visa for stablecoin payments wallet.

• Tabit Insurance raises $40M in a Bitcoin-funded insurance facility, becoming the first property and casualty insurer to hold all regulatory reserves in BTC.

• Mt. Gox transfers 10,608 BTC, valued at $927.48M, on March 25 to an exchange wallet, extending its complete creditor payout deadline to October 31, 2025.

• NYDIG acquires Crusoe's bitcoin mining and Digital Flare Mitigation operation to advance clean energy mining.

• KULR Technology Group, a thermal management solution firm, buys another $5M worth of BTC, taking its total holdings to 668 bitcoin.

• US Federal Deposit Insurance Corporation (FDIC) moves to end 'reputational risk' in bank supervision, addressing Bitcoin and crypto industry concerns about being unfairly denied financial services.

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