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Bitcoin(BTC) Drops to $66,000 with a 1.20% Decrease in 24 Hours

Bitcoin has dropped to $66,000 and is now trading at $66,286, with a narrowed 1.2% decrease in 24 hours.

Khamenei Betting Frenzy Triggers Backlash, Scrutiny of Prediction Markets

Wagers on the fate of Iran’s Supreme Leader surged on prediction platforms Kalshi and Polymarket just hours before U.S. and Israeli strikes killed Ayatollah Ali Khamenei, drawing political criticism and complaints from traders after the markets resolved, The Wall Street Journal reported Sunday.

In the days leading up to the attack, users had been betting on whether Khamenei would be removed from power. Odds on Polymarket, which began offering contracts in December on whether he would be out by April, jumped sharply from below 25% to above 50% shortly before the strikes. Kalshi, a U.S.-regulated exchange, offered similar contracts tied to specific deadlines later this year.

After President Trump announced Khamenei’s death Saturday afternoon, confusion erupted over payouts. Kalshi initially said the contract would settle based on the last traded price before confirmed reports of death. It later paused the market for review and ultimately said it would refund all fees and compensate traders based on prices before the killing. The reimbursements totaled about $2.2 million, the Journal reported, citing a person familiar with the matter.

Japan Faces Economic Threat as Iran Closes Hormuz Strait

Japan's economy could face significant challenges following the closure of the Hormuz Strait by Iran's Islamic Revolutionary Guard Corps, according to a report by the Japan Broadcasting Corporation on March 1. According to Jin10, the closure comes amid escalating tensions between the U.S. and Iran. Japanese experts warn that a prolonged blockade of this critical maritime route could lead to a 3% reduction in Japan's GDP. The Hormuz Strait is a vital artery for transporting Middle Eastern energy resources globally, and Japan relies on the region for over 90% of its crude oil imports. The blockade poses a severe threat to Japan's energy security and economic stability.

Polymarket Leads Prediction Market with Record Trading Volume

Polymarket's nominal trading volume reached $2.38 billion last week, surpassing Kalshi's $2.3 billion for the first time since November last year. According to Odaily, Polymarket currently holds the top position in the prediction market sector with a 44.5% market share, followed by Kalshi at 43.1%, and Opinion at 6.8%.

SpaceX Holds 8,285 Bitcoins on Coinbase Prime, Faces $545 Million Valuation

SpaceX currently holds approximately 8,285 Bitcoins in its Coinbase Prime escrow account, valued at about $545 million, according to Arkham Intelligence data. This marks a decrease of $235 million from its valuation three months ago, despite the company maintaining its Bitcoin holdings. The value of SpaceX's Bitcoin assets has fluctuated significantly due to market corrections, with holdings peaking at nearly $2 billion in late 2021 and varying between $400 million and $800 million over the past two years. Market analysts note that SpaceX's future financial disclosures, particularly following its S-1 filing with the U.S. Securities and Exchange Commission, will need to account for cryptocurrency exposure. This could highlight the impact of Bitcoin price volatility on the company's financial statements.

Trump Media Group Plans Spin-Off of Truth Social Platform

Trump Media Group is considering a strategic move to spin off its Truth Social platform into a publicly traded company through a merger with Texas Ventures Acquisition III. According to NS3.AI, the newly formed entity, SpinCo, would be listed on the stock exchange, with shares distributed to Trump Media shareholders. This initiative is part of Trump Media's broader strategy to enhance its cryptocurrency business ambitions.

El Salvador Increases Bitcoin Holdings by 30 BTC

El Salvador has increased its Bitcoin holdings by 30 BTC over the past 30 days, bringing its total to 7,577.37 BTC. According to Foresight News, this acquisition reflects the country's ongoing commitment to cryptocurrency investments. The total value of El Salvador's Bitcoin holdings is approximately $504 million.

Bitcoin Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF last Friday was $27.55 million. The total net asset value of Bitcoin spot ETFs is $83.40 billion, and the ETF net asset ratio (market value compared to the total Bitcoin market value) is 6.36%.

The Bitcoin spot ETF with the highest net outflow was iShares Bitcoin Trust ETF, with a net outflow of $32.71 million, according to SoSoValue.

SoSoValue