Daily Crypto Roundup: Trump Media's New ETF Venture, Nostra DeFi Pause, and MicroStrategy's Bitcoin Milestone

Trump Media Partners with Crypto.com to Launch “Made in America” ETFs

In a bold move to merge the traditional financial world with the crypto space, Trump Media has entered into a non-binding agreement with Crypto.com to launch a series of exchange-traded funds (ETFs) in the US. The agreement, announced on March 24, outlines the collaboration to create ETFs that will include a mix of digital assets and traditional securities, all under the banner of “Made in America” investments.

The collaboration also involves Trump Technology Group Corp (TMTG), the operator of Truth Social and the fintech brand Truth.Fi. The project, still subject to regulatory approval, is expected to roll out later this year. Once launched, the ETFs will be accessible via Crypto.com’s broker-dealer, Foris Capital US LLC, and will be available across various global markets, including the US, Europe, and Asia.

Crypto.com’s CEO, Kris Marszalek, emphasized that the new ETFs will be accessible to the platform's over 140 million users worldwide, providing a unique investment product aimed at both crypto enthusiasts and traditional investors alike. Read more about Crypto.com here.

DeFi Lender Nostra Halts Borrowing Following Critical Price Feed Error

In a recent disruption within decentralized finance (DeFi), Nostra, a lending protocol on the Starknet blockchain, paused borrowing activity for two liquid staking tokens—xSTRK and sSTRK—after discovering a critical issue with its price feeds. The protocol revealed on March 24 that a price feed error inflated the reported prices of these tokens by nearly three times their actual value.

This erroneous data posed a significant risk to the platform’s users, as the inflated prices could have triggered unnecessary liquidations of otherwise safe positions. In response, Nostra promptly halted borrowing against xSTRK and sSTRK collateral deposits and urged users to withdraw their assets to mitigate risk.

The platform also acknowledged the absence of a secondary fallback oracle to prevent such issues in the future. As the DeFi space continues to grow, such disruptions underscore the importance of robust price feeds and backup mechanisms to safeguard user funds. Learn more about Nostra here.

MicroStrategy Acquires Additional 6,911 Bitcoin, Surpassing 500,000 BTC Milestone

In a strategic move that reaffirms its commitment to Bitcoin, MicroStrategy has announced the purchase of an additional 6,911 Bitcoin for approximately $584 million between March 17 and March 23. This latest acquisition has pushed the company’s total Bitcoin holdings past the 500,000 mark, with a total of 506,137 BTC now in its possession.

MicroStrategy's average purchase price for these Bitcoin is $84,529 per coin. The company's total investment in Bitcoin now exceeds $33.7 billion, with an average purchase price of $66,608 per BTC, including fees and expenses.

The acquisition aligns with MicroStrategy’s ongoing Bitcoin strategy, led by co-founder Michael Saylor. The company had previously hinted at an upcoming Bitcoin investment after announcing the pricing of its latest tranche of preferred stock on March 21. This latest stock offering, priced at $85 per share with a 10% coupon, is expected to generate approximately $711 million in revenue, with the settlement date set for March 25, 2025.

With this purchase, MicroStrategy continues to solidify its position as one of the largest institutional holders of Bitcoin. Read more about MicroStrategy's Bitcoin investment strategy here.

As we continue to witness the evolving dynamics of cryptocurrency, these events highlight the intersections of traditional finance, institutional investment, and DeFi disruptions, all contributing to a rapidly changing landscape. Stay tuned for more updates on the latest trends and developments in the crypto world.