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Your weekly roundup of the 🔥hottest news in crypto:

OCC eases stance on crypto, Bitcoin's 'more than 50%' odds of June highs, & other news

Mar. 2 - 8

#1

OCC lays out crypto banking after Trump vows to end Operation Chokepoint 2.0

The US Office of the Comptroller of the Currency (OCC) has eased its stance on how banks can engage with crypto just hours after US President Donald Trump vowed to end the prolonged crackdown restricting crypto firms' access to banking services.

"Crypto-asset custody, certain stablecoin activities, and participation in independent node verification networks such as distributed ledger are permissible for national banks and federal savings associations," the OCC said in a March 7 statement.

The OCC confirmed in a document titled "Interpretive Letter 1183" that OCC-supervised financial institutions no longer need "supervisory nonobjection" to engage with crypto-related activities.

"Today's action will reduce the burden on banks to engage in crypto-related activities and ensure that these bank activities are treated consistently by the OCC," Acting Comptroller of the Currency Rodney E. Hood said.

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#2

SBF sent to solitary confinement over Tucker Carlson interview: Report

Former FTX CEO Sam "SBF" Bankman-Fried has reportedly been sent to solitary confinement after taking part in an interview with right-wing political commentator Tucker Carlson, which was not approved by prison authorities.

"This particular interview was not approved," a representative for the US Bureau of Prisons told The New York Times on March 7.

According to a person briefed on the situation, after Bankman-Fried's interview with Carlson was published, he was sent to solitary confinement at Brooklyn's Metropolitan Detention Center, where he has been held since August 2023.

The Bureau of Prisons is said to have strict rules on who can communicate with inmates and how they can do so.

#3

Donald Trump signs executive order for Strategic Bitcoin Reserve

US President Donald Trump has signed an executive order that creates a "Strategic Bitcoin Reserve" and a "Digital Asset Stockpile," both of which will initially use cryptocurrency forfeited in government criminal cases.

"Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve," White House AI and crypto czar David Sacks said in a March 7 post on X.

"The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings," he added.

Additionally, a March 6 factsheet from the White House said the order also establishes a "U.S. Digital Asset Stockpile," which Sacks said would be made up of cryptocurrencies other than Bitcoin.

Prediction of the Week

Bitcoin has 'more than 50% chance' of new high by June: Cory Klippsten

The chances of Bitcoin surpassing its all-time high of $109,000 by June are favorable, but the market first needs time to absorb volatile macroeconomic conditions, says Swan Bitcoin CEO Cory Klippsten.

"I think there's more than 50% chance we will see all-time highs before the end of June this year," Klippsten told Cointelegraph.

However, he said that market participants first need to adapt to US President Donald Trump's tariff threats and the uncertainty around inflation rates.

"The market needs to first digest tariffs, trade war fears, and growth scare fears. Bitcoin trading below $100,000 right now feels like a pause, not an end to the bull run," he said.

FUD of the week

US sanctions crypto addresses linked to Nemesis darknet marketplace

US authorities have sanctioned the operator of a shuttered online darknet marketplace, including his crypto addresses, which recently profited from Bitcoin price fluctuations.

Iran-based Behrouz Parsarad established the darknet marketplace Nemesis in 2021 and used it to facilitate the sale of drugs, false identification documents, professional hacking resources, and a variety of other illicit services for cybercriminals, the US Office of Foreign Assets Control said in a March 4 statement.

Under the sanctions, US citizens are now blocked from dealing with Parsarad and any companies where he owns more than a 50% stake.

FUD of the week

Solana sees $485M outflows in February as crypto capital flees to 'safety'

Solana saw nearly half a billion dollars in outflows last month as investors shifted to what were perceived to be safer digital assets, reflecting growing uncertainty in the cryptocurrency market.

Solana was hit by over $485 million worth of outflows over the past 30 days, with investor capital mainly flowing to Ethereum, Arbitrum and the BNB Chain.

The capital exodus came amid a wider flight to "safety" among crypto market participants, according to a Binance Research report shared with Cointelegraph.

"Overall, there is a broader flight towards safety in crypto markets, with Bitcoin dominance increasing 1% in the past month to 59.6%," the report stated.