GM. This is the Never Die Newsletter, where I share whatever crypto news and content I feel like, every week, short and sweet, right to your beautiful little inbox.
This week we have:
📰 News: Ethereum Hits Record $180B in Stablecoin Value
🌟 Narrative of the week: Bittensor Dumps Hard as Top Builder Exits
NEWS📰
📈 Ethereum Hits Record $180B in Stablecoin Value
The onchain value of stablecoins on the Ethereum L1 has surged to an all time high of $180 billion, capturing a dominant 60% of the global supply. Driven by massive institutional adoption with financial giants like BlackRock and JPMorgan launching tokenized funds directly on the network. This ongoing expansion of tokenized real world assets (RWAs) and onchain liquidity continues to solidify Ethereum's position as the primary settlement layer for traditional finance entering the digital asset space.
🏛️ Treasury Secretary Pushes CLARITY Act
US Treasury Secretary Scott Bessent is aggressively urging Congress to pass the CLARITY Act, warning that a lack of clear rules for digital assets threatens US leadership in the $3 trillion crypto market. A new White House economic report dismissed traditional banking sector fears, concluding that banning stablecoin yields would barely impact bank lending while costing consumers $800 million annually.
📈 Bitmine Uplists to NYSE
Bitmine Immersion Technologies (BMNR) has officially begun trading on the main New York Stock Exchange, uplisting from NYSE American to gain exposure to larger institutional capital pools. Concurrently, the company's board unanimously approved a massive expansion of its share repurchase program from $1 billion to $4 billion.
⚖️ US Attorney Pushes for Tornado Cash Retrial
A US Attorney is pushing to retry Tornado Cash co-founder Roman Storm on money laundering and sanctions conspiracy charges, explicitly rejecting the defense's attempt to use a recent Supreme Court civil copyright case to argue a lack of criminal intent. The highstakes legal battle, which centers on whether developers can be held criminally liable for open source code, faces new uncertainty following the appointment of Acting Attorney General Todd Blanche.
🎟️ Trump Extends Deadline for Exclusive Memecoin Gala
President Donald Trump is organizing a second exclusive crypto gala for the top 297 holders of the TRUMP memecoin, extending the leaderboard snapshot deadline to April 14. Billed as an elite crypto and business conference, the event will provide attendees with exclusive merchandise and a gourmet lunch with the President.
Narrative of the Week: Bittensor Dumps Hard as Top Builder Exits
Bittensor just saw one of its sharpest pullbacks yet, with $TAO dropping fast after a major ecosystem player walked away. Here’s what happened;
The Selloff: $TAO fell roughly 15–25% in under 24 hours, wiping hundreds of millions off its market cap and triggering heavy liquidations when this news came out.
Why?: Covenant AI, a key operator behind major subnets like Templar and Basilica, announced a full exit from the ecosystem. The Covenant AI team accused Bittensor of decentralization theater, claiming too much control sits with core insiders, including emissions and subnet decisions
Forced Selling: This made Covenant to reportedly dumped a large chunk of TAO holdings, adding direct sell pressure into an already weak market.
This all comes down to one thing: decentralization. If the Bittensor team can prove the network is genuinely decentralized and not controlled by a few hands, this likely ends up as a short term shakeout. But if they can’t, this could lead to more weakness and chaos in their ecosystem.
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