Google funds Anthropic's data center, Cathie Wood sells Bitcoin ETF

Headlines

▌Google Set to Finalize Agreement, Providing Over $5 Billion in Funding for Texas Data Center Leased to Anthropic

Google is about to reach an agreement to provide funding support for a large project by data center developer Nexus Data Centers in Texas, valued at over $5 billion, which will be leased for use by Anthropic after completion. The construction loan is expected to be finalized soon.
The project covers approximately 2,800 acres and is expected to deliver around 500 megawatts of capacity by the end of 2026, with significant expansions planned subsequently. Located near major natural gas pipelines, Nexus plans to power the facility directly with its own gas turbines, rather than relying on the public grid, to avoid delays in grid access and reduce costs during peak electricity usage.
Google is currently providing Anthropic with its custom TPU chips through Google Cloud for large model training, with both parties already having a deep cloud computing partnership. This infrastructure financing for the data center leased by Anthropic marks a further extension of that collaboration.

▌Cathie Wood’s Ark Invest Sells Off Technology Stocks and Bitcoin ETFs

On March 28, Ark Invest sold approximately $41 million worth of Meta shares and over $26 million worth of Nvidia shares on Thursday. Additionally, the company sold about $11 million in its own Bitcoin ETF (ARKB) shares, around $6.5 million in stock from the crypto exchange Bullish, and nearly $5 million in stock from Block, a company founded by Jack Dorsey. Ark Invest also reduced its holdings of Alphabet shares by about $2.5 million and AMD shares by about $7.5 million.
Meta’s stock price has fallen over 17% in the past month to around $531, with a nearly 10% drop in the past week after the platform lost two lawsuits related to social media addiction. Nvidia has decreased by about 5% in the past month while facing a class-action lawsuit regarding discrepancies in crypto mining revenue. Bitcoin has dropped approximately 4.8% in the past 24 hours to around $66,020, briefly falling below $66,000, marking its lowest level since March 2.
After the sell-off, Ark Invest holds around $100 million in ARKB, making it the 35th largest position in its actively managed ETF. Cathie Wood had previously predicted that Bitcoin could reach $1.2 million by 2030.

Market Update

As of the time of publication, according to CoinGecko data:

BTC price is $66,378.54, with a 24-hour change of +3.5%;

ETH price is $1,991.11, with a 24-hour change of +3.6%;

BNB price is $611.18, with a 24-hour change of +2.9%;

SOL price is $82.58, with a 24-hour change of +4.6%;

DOGE price is $0.09021, with a 24-hour change of +1.9%;

XRP price is $1.32, with a 24-hour change of +2.8%;

TRX price is $0.3101, with a 24-hour change of +0.2%;

WLFI price is $0.0982, with a 24-hour change of -4.18%;

HYPE price is approximately $38.3, with a 24-hour change of about -1%.

Policy

▌US Secretary of State Says the Conflict Will Last Another 2-4 Weeks, Communication Issues Slow Negotiations

On March 28, Axios reported, citing informed sources, that US Secretary of State Rubio stated on Friday at the G7 Foreign Ministers meeting that the war with Iran will last another two to four weeks. Three knowledgeable individuals revealed that Rubio mentioned at the G7 meeting that the US is still communicating with Iran through intermediaries rather than direct contact. He said it is currently unclear who is making decisions on the Tehran side. Rubio added that two Iranian officials wish to negotiate with the US but need approval from the highest leadership. According to sources, Rubio noted that communication between the intermediaries and Iranian officials is challenging because Iranian officials are afraid to use phones to avoid being tracked and assassinated, which slows down the pace of communication. He also stated that the US is waiting for Iran to clarify who will represent the country in potential peace negotiations. If talks are held, Vice President Vance is likely to lead the US delegation.

****▌California Signs Executive Order to Ban Insider Trading in Prediction Markets

On March 28, California Governor Gavin Newsom signed an executive order prohibiting government-appointed officials from using non-public information acquired during their duties to profit from insider trading in prediction markets, extending the ban to their spouses, family members, and former business partners. The executive order specifies that public officials appointed by the governor may not use “confidential or non-public information” to place bets on political or economic events related to their roles. Newsom emphasized that public service should not become a tool for profit and highlighted the need to draw a line between power and interests.

****▌US Lawmaker’s Office Plans to Release Stablecoin Yield Provision Draft Next Week, Industry Preparing Counter-Proposal

Crypto journalist Eleanor Terrett disclosed that the office of US Senator Thom Tillis plans to publicly release legislative text concerning stablecoin yields and rewards mechanisms next week, while continuing discussions with various industry stakeholders. It was reported that this move comes after Coinbase and other participants in the crypto industry expressed dissatisfaction with related provisions showcased earlier this week. Coinbase’s Global Head of Investment Research, David Duong, stated that the industry is preparing a coordinated counter-proposal aimed at pushing for adjustments to the provisions to protect users while maintaining a sustainable rewards mechanism.

Blockchain Applications

▌a16z crypto Partner: The Integration of Blockchain and AI Will Drive On-Chain Transaction Payments

On March 28, a16z crypto partner Guy Wuollet stated in Fortune’s Crypto Playbook program that the crypto industry is maturing and is currently in the “shirt era,” not yet fully formalized but having moved past the early stages. He pointed out that the dominant trend in the current crypto industry is Wall Street’s rapid adoption of blockchain, with traditional financial giants like BlackRock and Fidelity not only offering Bitcoin ETFs but also embracing blockchain technology in the stablecoin and tokenized stock sectors.
Wuollet also noted that the integration of blockchain and AI is laying the groundwork for on-chain transaction payments. He mentioned that a significant number of talents from the consumer-grade AI sector are entering the crypto industry because they believe the first transaction payments will occur on-chain, with Stripe discussing transaction payments in its annual letter. Regarding the issue of fragmentation due to different payment standards, Wuollet believes that AI models excel at understanding different systems, so this is unlikely to slow down the adoption rate.

Cryptocurrency

▌Circle Mints 500 Million USDC on Solana

According to OnchainLens monitoring, Circle has minted an additional 500 million USDC on Solana; the total issuance in the past 30 days has reached $24.4 billion.

Trump Supports Cryptocurrency: The US Will Become a Global Bitcoin Superpower

At the Future Investment Initiative Summit held in Miami, US President Trump made a statement regarding the development of cryptocurrency: Trump stated that the US will become the undisputed global superpower in Bitcoin and cryptocurrency, asserting that Bitcoin is very powerful. He noted that more and more people want to make payments with cryptocurrency, and this trend is accelerating. Trump also emphasized that the US needs to maintain a leading position in the field of crypto assets and related financial innovations to ensure dominance in the evolution of the global financial system.

Important Economic Developments

▌Bank of America Strategist Hartnett Recommends Buying US Consumer Stocks

On March 28, Bank of America strategist Michael Hartnett stated that investors should buy consumer stocks to bet on the “policy panic” as the US strives to prevent the economy from falling into recession. The strategist mentioned in a client report that once the Middle East conflict is resolved, President Donald Trump is likely to push some measures to protect American consumers from the impact of an economic downturn and maintain his support among voters. Hartnett stated, “We believe there will be a policy panic aimed at avoiding a recession.” He said Trump will seek to “pivot post-war to address affordability issues and declining approval ratings.”

****▌Iranian Foreign Minister: Israel Will Pay a Heavy Price for Its Crimes

On March 28, Iranian Foreign Minister Amir-Abdollahian stated that Israel’s attacks on Iranian steel mills, power plants, and nuclear facilities, coordinated with the US, contradict Trump’s extension of the diplomatic deadline. Iran will make Israel pay a heavy price for its crimes.

****▌Houthi Forces: Prepared for Direct Military Intervention in the Iran War Under Certain Conditions

On March 28, the Houthi forces in Yemen issued a position statement on March 27 regarding the situation in Iran. The statement said that the US and Israeli enemies must immediately respond to the diplomatic efforts made by the international community to stop their aggression against Iran and the axis of resistance; they must immediately cease aggression against Muslim countries such as Palestine, Lebanon, Iran, and Iraq, and lift the unjust blockade on Yemen; they must implement the Gaza agreement and fulfill all commitments included in the agreement to safeguard the humanitarian rights and legitimate rights of the Palestinian people. In any of the following circumstances, the Houthi forces are prepared for direct military intervention: if the US and Israel ally with any other allies against Iran and the axis of resistance; if the US and Israel conduct hostile actions against Iran and any Muslim country using the Red Sea; if they continue to escalate military actions against the Islamic Republic and the axis of jihad and resistance, the Houthi forces will take corresponding measures based on the development of the situation; and if any measures aimed at reinforcing the oppression of the Yemeni people are taken. In summary, the Houthi forces reiterated that their military actions target the enemies of Israel and the US, aiming to thwart the Zionist conspiracy, rather than targeting any Muslim people.

****▌UN Secretary-General Establishes Special Task Force for the Situation in the Strait of Hormuz

On March 28, UN Secretary-General spokesperson Dujarric stated regarding the situation in the Strait of Hormuz that as the Middle East conflict continues to evolve and could escalate further, disruptions in maritime trade through the Strait of Hormuz may trigger a chain reaction in the coming months, affecting humanitarian needs and agricultural production. Despite Secretary-General Guterres’ commitment to doing everything possible to achieve a comprehensive and lasting resolution to the conflict, immediate action to mitigate these consequences is crucial. To address these challenges, the Secretary-General has established a special task force. The task force is led by the UN Deputy Secretary-General and the Executive Director of the UN Office for Project Services, Ms. D’Silva. It will also include representatives from the UN Conference on Trade and Development, the International Maritime Organization, and the International Chamber of Commerce, and will invite other organizations to participate as needed. The main focus of the task force is to develop and propose specialized technical mechanisms to meet the humanitarian needs in the Strait of Hormuz. (CCTV News)

****▌Iran Claims the US Spreads a Large Amount of False Information to Suppress Oil Prices

On March 28, Iranian Islamic Consultative Assembly Speaker Ghalibaf stated on social media that the US spreads a large amount of false information to suppress oil prices, causing the market to become numb to it, “no one believes it anymore.” Ghalibaf claimed that this practice “seems very strong but is not smart. (They) played the false information card too early.”

****▌Iran Claims Possible Retaliation Against Israeli and Regional Steel Industry Facilities

On March 28, after the US and Israel attacked Iranian steel mills, Iran has listed six steel mills in Israel and relevant industrial facilities in five regional countries as new targets for retaliation. According to informed sources, Iran’s retaliatory actions should not be limited to the regional steel industry and may take “broader and more intense” measures.

****▌Trump Discusses War and the Stock Market: I Thought the Stock Market Would Drop More Severely

According to the Wall Street Journal, US President Trump spoke at the “International Institute of Finance Priority Summit” held in Miami Beach, discussing the war with Iran that has lasted nearly a month. When talking about the war and the stock market, he mentioned that he initially expected the Iran war to have a greater impact on the stock market. He said, “I thought the decline would be more significant.” He also added, “I also thought oil prices would rise higher.” The Wall Street Journal noted that the S&P 500 index has fallen for the fifth consecutive week, reaching its lowest level since last August.

Golden Encyclopedia

▌Can Bitcoin Still Be Called “Digital Gold” Amid Geopolitical Crises?

During each geopolitical crisis, gold prices rise while Bitcoin prices plummet. After six tests, the notion of “digital gold” has never been supported by data. Countries stockpile gold but exclude Bitcoin from their reserves. For investors, Bitcoin exhibits asymmetry: it falls with stock prices but does not rise with them. Three structural asymmetries prevent Bitcoin from gaining safe-haven status: an oversupply of derivatives (market structure), the dominance of leveraged traders (participant composition), and a lack of repeated behavioral records (behavioral accumulation).

Bitcoin is not a safe-haven asset, but it is a “crisis-useful asset,” which can indeed play a role amid border closures and bank failures. If these three asymmetries narrow, Bitcoin may no longer be a replica of gold but could become a brand new “next-generation gold.” Intergenerational change and the widespread application of algorithms are key factors that could accelerate this process.