Dubai, UAE, March 3rd, 2025, ChainwireBybit, the world's second-largest cryptocurrency exchange based on trading volume, is introducing the Futures Bot Clash, a high-stakes competition combining strategy and automation. With a prize pool of up to 100,000 USDT, traders will compete using Bybit's powerful Futures trading bots to reach the top of the leaderboard. The competition, running from Feb. 28 to March 31, 2025, allows participants to test their bot strategies in a skillful and precise contest, divided into three Futures Bot Squads - Futures Combo, Futures Martingale, or Futures Grid. Traders can earn rewards by participating in squad leaderboards, individual leaderboards, and the Predict & Win segment, where lucky voters can share in a portion of the 5% Prediction Pool by correctly predicting the winning squad. The prize pool breakdown includes rewards for squad rankings, top traders by volume, and participants in the Predict & Win segment, with eligibility requirements for participants to meet a minimum Futures trading volume and account balance. Bybit's Futures Bot Clash offers a unique opportunity for automated trading enthusiasts to test their strategies in a competitive environment and potentially win a share of the 100,000 USDT prize pool. Bybit continues to innovate in the crypto trading landscape, providing users with cutting-edge tools to enhance their trading strategies and offering a competitive environment for traders and bots to excel.

Investment bank TD Cowen expressed caution about President Trump's "crypto strategic reserve" plan announced on Sunday, stating that the plan lacks coordination and does not specify the source of funds.

On March 3rd, Fox Business News reporter Eleanor Terrett posted on the X platform that Coinbase has submitted a Freedom of Information Act (FOIA) request to the U.S. Securities and Exchange Commission (SEC), seeking disclosure of the non-fraud investigation and enforcement actions taken by the SEC against the cryptocurrency industry during former chairman Gary Gensler's tenure.

According to monitoring, the whale trader who previously made a profit of $6.83 million by longing BTC and ETH with 50x leverage on the Hyperliquid platform, switched to shorting 20 minutes before the US stock market opened, opening a $13.45 million Bitcoin short position.

According to Lookonchain monitoring, a newly created wallet withdrew 900 BTC from Binance 30 minutes ago, worth 83.81 million US dollars.

According to ai_9684xtpa monitoring, a new address has opened a position of 6 million LAYER, approximately $5.74 million, and has now become the 6th largest address in terms of on-chain holdings.

According to Lookonchain monitoring, a dormant whale wallet deposited 1,250 BTC to Binance 4 hours ago, currently valued at approximately $114.96 million.

The concept stocks of US cryptocurrency collectively soared, with Bit Origin rising by more than 380%, Strategy by more than 15%, CleanSpark and MARA Holdings by more than 11%.

On March 3rd, according to Dune data, the stablecoin USDe experienced its largest single-day redemption in history on March 1st, totaling $2.68 billion, resulting in a decrease of approximately 4.7% in the total circulation of USDe.

Cryptocurrency markets experienced a surge after US President Donald Trump announced the possibility of a strategic crypto reserve, but analysts are warning that the rally may not last long. Trump disclosed on March 2 that his Working Group on Digital Assets had been instructed to include XRP (XRP), Solana (SOL), and Cardano's ADA (ADA) in the US crypto reserve. This announcement led to a marketwide rebound, with the global crypto market cap increasing by almost 7% to $3.04 trillion, and Bitcoin (BTC) surpassing the $95,000 mark following a 7.7% intraday rally. However, analysts caution that the establishment of a US crypto reserve will involve a lengthy approval process, potentially impacting the sustainability of the current market movement. Some analysts believe that the market may be approaching a turning point, with Bitcoin's active addresses reaching a near three-month high on Feb. 28, indicating a possible "capitulation moment." Despite the positive reaction to ADA, SOL, and XRP being included in the US strategic reserve, analysts anticipate short-term volatility in the crypto market. The upcoming White House Crypto Summit hosted by President Trump on March 7 is also generating anticipation among crypto investors, with discussions on stablecoin regulation and legislation related to a potential strategic crypto reserve being key topics.