Circle Goes Public, Market Wobbles, Nigeria’s New Law Gives Crypto Legal Clarity. This Week in Crypto

Market Update: A Red Week for Crypto

The crypto market took a hit this week, with a downturn across major assets. Bitcoin (BTC) saw a 2.6% drop, settling below key resistance levels. Ethereum (ETH) wasn’t spared either, tumbling 5.3%, while Solana (SOL) took the biggest hit among top assets, declining 10%. The broader market also reflected this bearish sentiment, slipping to a $2.9 trillion total market cap.

The market correction came as macroeconomic uncertainties, regulatory developments, and geopolitical concerns added selling pressure. Despite the downturn, analysts remain optimistic about Bitcoin’s long-term trajectory, especially with institutional adoption on the rise. Keep those eyes peeled for potential buy-the-dip opportunities! 

African Crypto News

Nigeria Officially Recognizes Crypto as Securities 🇳🇬

In a major regulatory milestone, Nigerian President Bola Ahmed Tinubu has signed the Investment and Securities Act (ISA) 2024 into law. This legislation formally classifies virtual assets and investment contracts as securities, providing much-needed legal clarity for the country’s crypto ecosystem.

This move is expected to bring more structured oversight to Nigeria’s booming crypto space, which remains one of the most active in the world. With this new law, businesses dealing in crypto will likely face stricter compliance requirements but could also see more institutional investment. Will this be the green light for Nigeria’s next big Web3 unicorn? 

South Africa Leads in Crypto Payments Adoption 

South Africa has cemented itself as Africa’s leader in cryptocurrency payment adoption, with an impressive 584 merchant locations accepting crypto as a form of payment in 2025.

From retail stores to online businesses, South Africans are increasingly using cryptocurrencies like Bitcoin and stablecoins for everyday transactions. This rise in crypto payments reflects a broader trend of digital currency adoption across the continent, fueled by economic instability and the desire for financial independence.

With major payment providers like VALR Pay and Luno simplifying crypto payments, South Africa could soon set the gold standard for crypto-based commerce in Africa. 

Bitcoin Mining Meets Electrification in Zambia 🇿🇲

Deep in northwestern Zambia, where the Zambezi River roars, an innovative Bitcoin mining project is turning excess hydroelectric power into digital gold. As reported by the BBC, Kenya-based company Gridless has set up a Bitcoin mining farm powered by surplus electricity from the Zengamina Hydro Power Plant.

Housed in a shipping container with 120 specialized mining rigs, this operation is not just about mining Bitcoin—it’s also driving rural electrification. By using excess power that would otherwise go to waste, the project provides a sustainable model for energy use in crypto mining while supporting local communities with stable electricity. Could this be the future of green Bitcoin mining? 

📰 Other Top Headlines

Trump’s ‘Liberation Day’ Tariffs Shake Crypto Markets

Donald Trump’s latest economic move—dubbed the ‘Liberation Day’ tariffs—has sent shockwaves through global markets, including crypto. The policy imposes a baseline 10% tariff on all imports, alongside reciprocal tariffs on U.S. trade partners. This has triggered a market-wide sell-off, impacting major crypto assets like Bitcoin, Ethereum, XRP, BNB, and Solana.

Investors fear these tariffs could slow down economic growth and lead to capital outflows from risk assets, including crypto. As the situation unfolds, expect increased volatility and possible buying opportunities for the bold traders out there!

Circle Files for IPO: A Game-Changer for Stablecoins?

The second-largest stablecoin issuer, Circle, has officially filed for an IPO on the New York Stock Exchange. Circle, the company behind USDC, aims to transition from a private entity to a publicly traded company under the ticker CRC.

This move signals increased transparency and regulatory compliance, which could further boost confidence in USDC as a global stablecoin. With Tether still dominating the market, Circle’s IPO could shift the competitive landscape significantly. Stay tuned for Wall Street’s response! 

MicroStrategy Goes Big: Another $1.92B in Bitcoin

Michael Saylor is at it again! His company, MicroStrategy, just bought a whopping 22,048 BTC, worth $1.92 billion between March 24th and March 30th. This brings the firm’s total Bitcoin holdings to a staggering 528,185 BTC.

With a relentless Bitcoin accumulation strategy, MicroStrategy continues to position itself as the ultimate corporate Bitcoin whale. Could this latest buy signal another bullish phase ahead? 

Tether’s Bitcoin Stash Hits $8.44 Billion

Stablecoin giant Tether is stacking sats! The company recently added 8,888 BTC to its reserves, bringing its total Bitcoin holdings to $8.44 billion.

As part of its strategy to diversify reserves beyond traditional assets, Tether continues to buy Bitcoin every quarter. This approach strengthens USDT’s backing while reinforcing Bitcoin’s status as a preferred store of value. 

Bitcoin Miner MEA to Sell Stocks for BTC

Bitcoin mining company MEA is making a bold move: It plans to sell $2 billion worth of stocks to acquire even more Bitcoin. Currently holding 46,374 BTC (valued at $3.8 billion), MEA aims to expand its BTC reserves further, betting on long-term price appreciation.

As miners continue to double down on Bitcoin, does this indicate growing institutional confidence in BTC’s future? 

Mastercard’s Blockchain Ambitions: A Venmo-Style Network

Mastercard is making big moves in crypto payments! The company is developing a Venmo-style blockchain network, allowing users to transact seamlessly across digital assets.

With increasing regulatory scrutiny on traditional banking rails, Mastercard’s blockchain expansion could play a pivotal role in bridging traditional finance with crypto. 

UAE’s Digital Dirham to Launch in 2025

The United Arab Emirates (UAE) is set to launch its own central bank digital currency (CBDC), the Digital Dirham, in Q4 2025. This CBDC will feature smart contract capabilities, instant settlements, and enhanced security, positioning the UAE at the forefront of digital currency innovation.

With governments worldwide exploring CBDCs, will the Digital Dirham become a model for others to follow? 

PayPal Adds Solana and Chainlink

Big news for PayPal users: The payments giant has added Solana and Chainlink to its platform! U.S. customers can now buy, sell, and transfer SOL and LINK directly through PayPal.

This move further legitimizes crypto in mainstream finance, making it easier for users to access and transact digital assets. 

That’s a wrap for this week’s TawkWrap! Stay tuned for more crypto news, and as always—stay bullish (or at least prepared for the dips)!