Presented by

OVERVIEW

Privacy Is Normal 🕵️‍♂️ 

Before we dive in, here’s today’s crypto market heatmap:

Source: Santiment

And here’s a look at crypto’s total market and altcoin market cap charts:

Source: TradingView

EMAIL ME
Tell Me What You Want 🔊 

Quick note here: Let me know what you’d like to see more of in the Litepaper.

More charts? More on-chain analytics? More data? Let me know! 🎇 

E-mail me here: jmorgan@stocktwits.com

NEWS IN THREE SENTENCES
Crypto News 📰

🦅 DWF Labs Drops $25M on Trump’s World Liberty Tokens, Because Governance is Totally the Point

DWF Labs just handed Trump’s family-controlled crypto project, World Liberty Financial, $25 million for tokens that can’t even be traded yet. World Liberty, having already pocketed $550 million via insider-friendly token sales, also roped in Tron’s Justin Sun for $75M. DWF Labs says they’ll provide free liquidity for Trump’s upcoming stablecoin. Yahoo!Finance.

🕵️‍♂️ US Secret Service Busts $4.3M ETH Phishing Scam with Canadian Backup

In Operation Avalanche the U.S. Secret Service teamed up with Canadian authorities to tackle a $4.3 million Ethereum approval phishing racket. Instead of fighting assassins or protecting presidents, agents tracked down compromised crypto wallets to warn victims they’d been scammed—about as comforting as telling someone their house burned down after the fire’s out. TheBlock.

🇪🇺 Italy Says Dollar Stablecoins are Scarier Than Trump’s Tariffs

Italy’s Finance Minister, Giancarlo Giorgetti, warned that U.S. dollar-pegged stablecoins like USDT and USDC pose a bigger threat to Europe’s financial sovereignty than Trump’s tariff wars. Giorgetti urged the EU to speed up its digital euro rollout, basically admitting the euro is on track for an L to the greenback. ecoinimist.

🕸️ Scammers Turn Dead DeFi Sites Into Crypto Wallet Traps

Crypto scammers have found a new strategy: hijacking abandoned DeFi project websites and turning them into wallet-draining landmines, hoping nostalgic crypto holders log back in to reclaim forgotten tokens. With no teams left to patch these ghost-town sites, the only real defense is vigilance. Protos.

PRIVACY COINS
All Of The Sudden, Privacy Is A Big Deal 😲 

If you thought $ZEC.X ( ▼ 0.91% ) was dead or unloved, yesterday showed just how loved and admired this oft-forgotten token is. 💓 

Binance listed Zcash as one of seventeen tokens on Binance’s Vote to Delist. Some of the names included Stocktwits favorites like $JASMY.X ( ▼ 6.83% ). But it was Zcash that caught all of the attention yesterday.

The possibility of Binance delisting ZEC ruffled the feathers of some very big birds in the crypto space:

Zooko Wilcox, the man behind the development of Zcash, posted this:

Which caught the attention of Gemini’s Tyler Winklevoss:

Ledger CTO Charles Guillemet:

Keystone Wallet:

Barry Silbert reposted zooko, $ATOM.X ( ▲ 2.48% ) co-founder Ethan Buchman posted, StarkWare CEO Eli Ben-Sasson chimed in, and a whole lot more rallied to Zcash’s defense. 🛡️ 

Now we’re all waiting to see what Binance does. 👀 

SPONSORED
The blockchain movement’s biggest celebrity gets his own documentary

Vitalik: An Ethereum Story released today – and it’s a must-see for crypto enthusiasts.

Follow the journey of Vitalik Buterin, from teenage coding prodigy to crypto philosopher king.

“Ethereum is the next evolution of coordination for humanity” – and with footage spanning across America, Europe, Argentina, and Ukraine, Vitalik: An Ethereum Story casts a truly global eye on the impact of this groundbreaking technology.

Vitalik: An Ethereum Story is now available on digital platforms worldwide!

*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here. 

ON-CHAIN ANALYSIS
Burnt Bag Briefing 🔥 

Want to know whether the bulls or bears are feeling the most pain today? Well, this is the place to look. 👀

24-Hour Liquidation Heat Map – Source: coinglass – Click to enlarge.

In the past 24 hours, 143,723 traders were liquidated, with total liquidations reaching nearly $293.60 million.

The largest single liquidation occurred on Bybit, a BTCUSD pair valued at $5.00 million.

Longs lost $195.39 million, while shorts were hit for $98.22 million. 🤕

PRIVACY
One Of The Craziest Stories In Crypto Involves Zcash 🤯

Ever heard of ‘The Ceremony’? It’s the story of how Zcash’s blockchain first came to be. Unlike the creation of Bitcoin’s blockchain, which just ‘turned on’ when Satoshi minted the genesis blocks, Zcash required a private key with god-mode powers. ⚡️ 

Zcash needed this type of private key specifically because of how it achieves privacy—by using zk-SNARKs (zero-knowledge succinct non-interactive arguments of knowledge).

Here’s why that’s a big deal (and a pain in the ass):

• Zero-Knowledge Magic:
  zk-SNARKs allow users to prove transactions are valid without revealing details. Basically, it’s the crypto equivalent of “trust me, bro,” but mathematically legit.

• The Toxic Waste Problem:
  The catch? zk-SNARKs require a one-time “trusted setup”—a secret key generated precisely once. After it’s made, that initial key becomes toxic waste. Anyone who gets their grubby mitts on it could secretly print unlimited coins, totally undermining Zcash’s privacy and security.

And that’s where The Ceremony begins. Because the creation of Zcash’s blockchain was borderline movie worthy. 😕 

The goal? Generate a truly random, massive private key so secretive, no human or machine could ever keep a trace of it. Because if someone did, they could print infinite Zcash.

To pull this off, six anonymous operators across the globe simultaneously created one part (shard) of the key. They executed this cryptographic ritual over two insane, intense days—without knowing each other’s identities or locations in advance.

Then, each participant had to destroy their computers afterward, eliminating all traces of the private key.

Nine years later, it seems to have worked. 🧠 

NEWS
MANTRA’s Update On MANTRA 📖 

MANTRA’s official blog/news page posted a report/update on the March 13 collapse. Full version here, summary is below:

The bloodbath started when whales moved massive stacks of OM tokens onto exchanges for collateral. Thanks to historically crappy trading volumes at that hour (shocker, right?), forced liquidations kicked in, creating a nasty domino effect:

• First, a couple of forced liquidation sales tanked the OM price.

• Then the falling prices triggered automated liquidation cascades across multiple exchanges.

• Exchanges like OKX and Binance saw bizarre price divergences, amplifying the chaos.

Think of it like financial Jenga—someone pulled the wrong block at the worst possible time. ⏲️ 

What’s next?

• An $OM.X ( ▼ 14.06% ) token buyback and burn program is in the works.

• CEO John Patrick Mullin pledged publicly to burn his personal team allocation.

• MANTRA will launch a live tokenomics dashboard for maximum transparency.

• They’re calling on exchange partners to step up and clarify exactly what went down during the chaos.

In short, the team is fully committed, nobody on the inside sold out, and there’s a roadmap to recover trust. 🌶️

NEWS IN THREE SENTENCES
Metaverse, NFT, & Gaming News 🎮️

🏴‍☠️ For Loot and Glory Hoists the Flag on SKALE – Gas Fees Walk the Plank

For Loot and Glory, a pirate-themed MMO, sails onto SKALE’s zero-gas blockchain, solving crypto gaming’s eternal headache: annoying fees and slow gameplay. With its fully on-chain economy, asset-burning mechanics, and even a cheeky brothel (bonus points for creativity), this game actually makes blockchain fun. SKALE.

📸 Enjin Snap Campaign Drops Limited-Edition NFTs – Just Connect and Collect

Enjin launches its month-long Enjin Snap campaign, making NFT interaction smoother by seamlessly plugging into your MetaMask wallet—finally ditching the digital juggling act. Users connecting via Enjin Snap could snag one of ten ultra-rare, ENJ-infused NFTs. Enjin.

🎮 WEMIX Levels Up Web3 Gaming with NVIDIA-Powered AI and Mind-Blowing Graphics

WEMIX is shaking up Web3 gaming by merging blockchain with AI and cutting-edge graphics tech, thanks to an NVIDIA partnership. Upcoming titles like Black Vultures: Prey of Greed boast real-time AI tactical buddies, while MIR5’s boss AI, Asterion, learns your strategy and forces you to adapt mid-fight. Gaming is getting frighteningly smart. WEMIX.

NEWS IN THREE SENTENCES
DeFi, DEX, & Lending Protocol News 🏦

🐻 Berachain’s Guardians Take the Wheel, Governance Goes Transparent AF

Berachain revamped its governance with a new five-person Guardian Council, including reps from BGT Foundation, Honey Jar, and ecosystem OGs to ensure decisions aren’t just a rubber stamp festival. Protocol teams must now publicly defend their Reward Vault proposals in the governance forums. Berachain.

🪪 Alchemy Pay Bags Arizona License, Doubles Down on U.S. Expansion

Alchemy Pay snagged an Arizona Money Transmitter License, upping its total to nine states and proving it’s serious about playing by Uncle Sam’s rules—even in crypto-friendly Trump-era America. With a pro-crypto White House waving the Bitcoin flag, Alchemy’s move isn’t just regulatory box-ticking; it’s strategic positioning to dominate fiat-to-crypto payments. Alchemy Pay.

LINKS
Links That Don’t Suck 🔗

💨 Captcha’s days numbered as World ID tells bots to get lost

🪙 Peter Schiff Suggests Selling Bitcoin in Favor of Gold Mining Stocks Amid Crypto Struggles

🔽 ASML Reports Lower than Expected Net Bookings, Weighing on Semiconductor Stocks

🇸🇰 South Korean presidential hopeful Hong Joon-pyo pledges bold blockchain and crypto reforms

Get In Touch 📬

Follow our social channels for great, real-time content on Stocktwits and Twitter. And check out our YouTube channel for in-depth video content! 📲

Email me (Jonathan Morgan) your feedback; I’d love to hear from you. 📧

Want to sponsor this newsletter and reach hundreds of thousands of crypto enthusiasts? Reach us here. 👍

Terms & Conditions 📝

Securities Disclaimer: STOCKTWITS IS NOT A TAX ADVISOR, BROKER, FINANCIAL ADVISOR OR INVESTMENT ADVISOR. THE SERVICE IS NOT INTENDED TO PROVIDE TAX, LEGAL, FINANCIAL OR INVESTMENT ADVICE, AND NOTHING ON THE SERVICE SHOULD BE CONSTRUED AS AN OFFER TO SELL, A SOLICITATION OF AN OFFER TO BUY, OR A RECOMMENDATION FOR ANY SECURITY. Trading in such securities can result in immediate and substantial losses of the capital invested. You should only invest risk capital, and not capital required for other purposes. You alone are solely responsible for determining whether any investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should also consult an attorney or tax professional regarding your specific legal or tax situation. The Content is to be used for informational and entertainment purposes only and the Service does not provide investment advice for any individual. Stocktwits, its affiliates and partners specifically disclaim any and all liability or loss arising out of any action taken in reliance on Content, including but not limited to market value or other loss on the sale or purchase of any company, property, product, service, security, instrument, or any other matter. You understand that an investment in any security is subject to a number of risks, and that discussions of any security published on the Service will not contain a list or description of relevant risk factors. In addition, please note that some of the stocks about which Content is published on the Service have a low market capitalization and/or insufficient public float. Such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information. Read the full terms & conditions here. 🔍

Author Disclosure: The author of this newsletter holds positions in ADA, IMX, COPI, MIN, AGIX, ALGO, ZEC, XLM, and NEAR. 📋