Daily Market Wrap | Mar. 09

Hot Topics

• Bitcoin slumps below $68,000 and oil prices surge nearly 20%.
• Florida legislature passes Senate Bill 314, the first U.S. state-level framework regulating payment stablecoin issuers, awaiting Gov. DeSantis' signature.
• U.S. Treasury report to Congress acknowledges crypto mixers' legitimate privacy uses while recommending a "hold law" for freezing suspicious assets.

Market Updates

• Kalshi and Polymarket explore fundraising at ~$20B valuations each, roughly doubling prior rounds.