DCW DAILY BRIEF

Global Digital Assets, ScienceTech & Web3 Market Intelligence

Date: March 25th, 2026 │ Wednesday Edition #421

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James Bowater

linkedin.com/in/james-bowater-b47612 | Twitter/X: X.com@TheDCW_JB

https://www.thedigitalcommonwealth.com/

Convergence Graphic

Next Event: https://www.thedigitalcommonwealth.com/

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📊 EXECUTIVE SUMMARY

Markets open on Wednesday, March 25th, 2026, Iran War Day 26, with cautious optimism as the US formally presents a 15-point peace proposal to Iran, seeking a one-month ceasefire. Still, Tehran insists Washington is “negotiating with itself.” Reuters confirmed Tuesday that Washington sent Iran a formal settlement plan; Israel’s Channel 12, citing three sources, reported the US is seeking a month-long cessation of hostilities to discuss the proposal. The New York Times corroborated the 15-point plan via US officials. President Trump stated Tuesday that the US was making progress and had won “an important concession” from Tehran, though no details were provided. Iran’s official IRNA news agency quoted an armed forces spokesperson dismissing the proposal outright. Envoys Steve Witkoff and Jared Kushner are reportedly actively engaged in discussions on the ceasefire mechanism. The Friday, 28th March strike moratorium remains the hard deadline.

Asian and European markets have responded positively to the 15-point plan: Japan’s Nikkei surged approximately +3%; South Korean and Australian markets rose around +2%. S&P 500 futures gained +0.7% in Asian trade; European futures rose +1.2%; FTSE futures +0.7%. The reaction is cautious rather than euphoric. Investors recognise that Iran’s categorical denial and continued Israeli strikes make a genuine breakthrough far from assured. The Friday expiry remains the pivotal binary risk event.

Oil has retreated sharply on ceasefire optimism: Brent crude fell as much as 7% to near $97/bbl; WTI fell to $87/bbl. Despite this move, Brent remains approximately 35% above pre-conflict February levels, and the Strait of Hormuz remains commercially inaccessible. Goldman Sachs’ Q2 Brent target of $110/bbl stands. Iran has not confirmed any opening of Gulf shipping lanes.

Gold is staging a recovery on Wednesday, climbing approximately +2.5% to ∼ $4,570–$4,600/oz as the dollar weakens and oil’s retreat tempers the most hawkish central bank expectations. Gold remains approximately 18–20% below January’s all-time high of $5,595, and the technical setup remains challenged below its 21-day and 50-day SMAs. The 200-day SMA at ∼ $4,100, a four-month low, provided support earlier this week. Silver is recovering alongside gold.

Bitcoin is holding above the critical $70,000 structural level at ∼ $70,600 (+0.6%), demonstrating continued resilience through the geopolitical volatility. ETH is at ∼ $2,115 (−0.80%); XRP ∼ $1.42; SOL ∼ $89.50; ADA ∼ $0.28; DOGE ∼ $0.093. The total crypto market cap stands at ∼ $2.50T; BTC dominance ∼57.0%. The Crypto Fear & Greed Index remains in Fear territory at approximately 36. The FTX $2.2B creditor distribution on March 31 (6 days) is now the primary near-term crypto liquidity catalyst.

The dominant Wednesday narrative centres on five intersecting themes: (1) US 15-Point Ceasefire Plan: Washington’s formal proposal is the most significant diplomatic development since Trump’s Monday pause announcement; Iran’s dismissal and the Friday deadline define the binary risk; (2) Oil Retreating Further: Brent near $97, WTI near $87, on ceasefire optimism; Goldman $110/bbl Q2 target unchanged; Hormuz remains effectively closed; (3) Tokenisation Day in Washington: House Financial Services Committee holds landmark hearing on “Tokenization and the Future of Securities”; NYSE partners with BlackRock-backed Securitize for 24/7 tokenised stock trading; BlackRock CEO Fink projects $500M annual crypto revenue; (4) Circle Under Triple Pressure: CRCL stock down 18–20% on Clarity Act yield ban; 16 USDC business wallets frozen via US civil court order; Tether announces Big Four audit; (5) Bitcoin’s Continued Resilience: BTC holding $70,000 as gold recovers; digital gold narrative sustained through War Day 26.

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Iran War Day 26  US 15-Point Plan; Tehran Says Washington Is “Negotiating With Itself”:

US sent Iran a 15-point settlement proposal confirmed by Reuters, NYT and three Channel 12 sources; Washington seeking a one-month ceasefire to discuss plan; Trump Tuesday declared “important concession” from Tehran without details; Iran’s IRNA quotes military spokesperson dismissing the plan: US is “negotiating with itself”; Witkoff and Kushner actively engaged on ceasefire mechanism; Pentagon sending thousands of 82nd Airborne troops to Middle East regardless; Friday 28th March expiry remains the pivotal binary deadline; Hormuz commercially inaccessible; Israeli strikes continuing independently.

Oil Retreating  Brent ∼$97/bbl (−7%) on Ceasefire Optimism:

Brent fell as much as 7% to near $97/bbl; WTI near $87/bbl; move driven entirely by US ceasefire plan headlines; Brent still ∼35% above pre-conflict February levels; Goldman Sachs Q2 2026 Brent target unchanged at $110/bbl; 2008 $147/bbl record scenario remains in Goldman tail-risk framework; Strait of Hormuz remains effectively closed  Saudi East-West Pipeline diversion active; UAE via Abu Dhabi Crude Oil Pipeline to Fujairah; US gas prices ∼$3.96/gallon continuing multi-week rise.

Markets Wednesday  Asia and European Futures Rally on Ceasefire News:

Japan/Nikkei +3%; South Korea +2%; Australia ASX 200 +2%; S&P 500 futures +0.7% Asia; European futures +1.2%; FTSE futures +0.7%; reaction cautious  Iran’s dismissal and continued Israeli strikes prevent full risk-on; VIX still elevated; Goldman US recession probability remains 30%; Friday 28th March remains the defining binary risk event for risk asset direction.

Bitcoin ∼$70,600 (Holding Above $70,000; Sustained Digital Gold Resilience):

BTC at ∼$70,600 (+0.6%) holding $70,000 structural support through War Day 26; ETH ∼$2,115 (−0.80%); XRP ∼$1.42; SOL ∼$89.50; ADA ∼$0.28; DOGE ∼$0.093; total market cap ∼$2.50T; BTC dominance ∼57.0%; Fear & Greed ∼25 (Fear/Extreme Fear boundary); FTX $2.2B distribution March 31 (6 days) primary near-term catalyst; BTC continues to outperform gold from January ATH levels the defining cross-asset signal of the conflict.

Tokenisation Day  Congress Hearing, NYSE-Securitise, BlackRock $500M Target:

House Financial Services Committee holds dedicated tokenisation hearing today (“Tokenization and the Future of Securities”, 10 AM EDT); NYSE announces BlackRock-backed Securitize as first digital transfer agent for 24/7 tokenised stock trading platform (SEC/FINRA approval pending, late 2026 launch); BlackRock CEO Fink projects $500M annual crypto revenue within five years from ETF fees, BUIDL tokenised fund, on-chain custody; RWA market now $26.48B on-chain ($387B represented value); CLARITY Act Senate Banking Committee markup targeted second half of April.

📰 TODAY'S HEADLINES

💹 MARKETS

• Oil retreats sharply  Brent ∼$97/bbl (−7%) as US ceasefire plan raises Gulf export hopes: Brent crude fell as much as 7% to near $97/bbl on Wednesday after Reuters and the NYT confirmed Washington sent Iran a formal 15-point settlement plan and Israel’s Channel 12 reported a one-month ceasefire is being sought; WTI fell to ∼$87/bbl; the drop reflects the market pricing partial de-escalation; however, Brent remains ∼35% above pre-conflict February levels; the Strait of Hormuz is still effectively closed; Goldman’s Q2 2026 Brent target of $110/bbl is unchanged and the 2008 $147/bbl record scenario remains active in Goldman’s tail-risk framing if Hormuz stays shut for six weeks.

• Asian and European markets rally on ceasefire optimism cautious gains across sessions: Japan’s Nikkei rose approximately +3%; South Korean and Australian markets gained ∼+2%; S&P 500 futures rose +0.7% in the Asia session; European futures +1.2%; FTSE futures +0.7%; the gains are modest and cautious relative to Monday’s relief surge, reflecting investor scepticism after Iran’s dismissal; VIX remains elevated; Goldman Sachs’ US recession probability holds at 30%; US PMI data yesterday showed initial deterioration consistent with the energy shock feeding through to business activity.

• Gold stages a 2.5% Wednesday recovery to ∼$4,570–$4,600/oz as dollar weakens on ceasefire hopes: Gold has recovered approximately +2.5% to near $4,570–$4,600/oz during Wednesday’s Asian session as the US dollar loses safe-haven demand with the return of risk-on sentiment; gold is building on Tuesday’s tentative stabilisation near the 200-day SMA at ∼$4,100  a four-month low; gold remains ∼18–20% below January’s $5,595 all-time high on pace for its worst month since October 2008; silver recovering alongside; 10-year US Treasury yield at ∼4.33%; the oil price retreat is also helping reduce the most extreme inflation hawkishness, modestly supporting rate-sensitive assets including gold.

• Rate markets modestly reprice on ceasefire hope and lower oil: The retreat in Brent crude has introduced the first modest dovish repricing in G4 rate markets since the conflict began; markets are slightly reducing the probability of additional ECB hikes and BoE deferrals as the energy inflation outlook softens marginally on potential Hormuz reopening; however, Goldman Sachs maintains its core scenario: Fed cuts September and December only; BoE cuts deferred to 2027; ECB hikes remain in play for April/June; the repricing is tentative and conditional on a genuine ceasefire materialising before or on Friday.

• Tuesday US equities closed mixed ceasefire diplomacy vs Iran’s denial: Tuesday’s US session closed with modest gains after the initial flat/negative open; indices benefited from mid-session reports of the 15-point plan but Iran’s continued categorical denial capped gains; the S&P 500 remains approximately 5% below its year-open level and below its 200-day moving average; VIX at ∼26.15; US gas prices at $3.96/gallon continuing their multi-week rise now representing one of the most prolonged single-commodity inflation spikes since Hurricane Katrina.

⚖️ REGULATORY & POLICY

• House Financial Services Committee holds landmark tokenisation hearing today  “Tokenization and the Future of Securities”: The House Financial Services Committee convenes at 10 AM EDT in Room 2128, Rayburn House Office Building, for its first dedicated tokenisation hearing in the 119th Congress; two draft bills are on the agenda: the Modernizing Markets Through Tokenization Act (directing SEC/CFTC joint study on tokenised derivatives jurisdiction) and the Capital Markets Technology Modernization Act (codifying broker-dealer use of blockchain for record-keeping); the RWA on-chain market has reached $26.48 billion in distributed value ($387B represented); the hearing arrives as the CLARITY Act Senate Banking Committee markup is targeted for the second half of April; SEC Chairman Atkins has previously stated securities markets should “move on-chain” and the SEC and CFTC have signed a joint oversight MOU under Project Crypto.

• CLARITY Act stablecoin yield ban confirmed in draft text  Circle (CRCL) down 18–20%: Monday’s closed-door Capitol Hill session circulated CLARITY Act draft language to crypto industry leaders; the text confirms digital asset service providers including exchanges, brokers, and affiliated entities are prohibited from offering yield “directly or indirectly” on stablecoin balances or in any manner “economically or functionally equivalent” to bank interest; Circle (CRCL) fell as much as 20% on Tuesday its worst day on record as investors repriced Circle’s pass-through model with Coinbase; the provision targets yield-bearing stablecoins like Ethena’s USDe and USDC rewards programmes; banks review the same text on Wednesday; Senate Banking Committee markup targeted second half of April; CLARITY Act passed the House in July 2025 (294–134).

• Circle Internet Financial freezes USDC in 16 business hot wallets via US civil court order: On-chain investigator ZachXBT reported Circle froze USDC balances in 16 hot wallets belonging to exchanges, casinos, and forex firms on March 23–24, linked to an undisclosed US civil case; the affected addresses used for high-frequency transactional processing have been rendered entirely immobile, preventing vendor payments, customer withdrawals, and trade settlement; ZachXBT criticised Circle for failing to verify the wallets before acting; the incident has amplified centralisation concerns around USDC and coincides with Tether’s announcement of a Big Four audit milestone compounding the week’s negative CRCL sentiment.

• NYSE taps BlackRock-backed Securitize as first digital transfer agent for tokenised securities platform: NYSE announced Tuesday that Securitize backed by BlackRock and Ark Invest, SEC-registered as transfer agent and broker-dealer will be its first digital transfer agent to mint tokenised stocks and ETFs on a new 24/7 blockchain trading platform; Securitize manages $4B+ in tokenised assets and handled BUIDL’s issuance infrastructure; the announcement arrived the day before Congress’s tokenisation hearing and one day after the SEC formally approved Nasdaq’s tokenisation pilot (March 18); the NYSE platform requires SEC and FINRA approval; launch targeted late 2026; the broader tokenised asset market has grown 310%+ over 12 months with BCG/Ripple projecting $18.9 trillion by 2033.

🤖 TECHNOLOGY & INNOVATION

• BlackRock CEO Larry Fink projects $500 million in annual crypto revenue within five years: In his 2026 annual shareholder letter, BlackRock Chairman and CEO Larry Fink projected that the firm’s digital assets division could generate approximately $500 million in annual revenue within the next five years  described as a “conservative estimate” based on the institutionalisation of Bitcoin and Ethereum as standard portfolio components; the $500M figure covers management fees from iShares spot ETFs (IBIT alone ∼$45B+ AUM), revenue from the BUIDL tokenised Treasury fund (world’s largest tokenised fund at $2B+ AUM), and on-chain custody and settlement income; BlackRock manages $65B in stablecoin reserves and nearly $80B in digital-asset ETPs; Fink identified the “transition of the $100 trillion global wealth management industry into a natively digital format” as the firm’s primary 2030 growth vector; ARK Invest purchased $16.3M in CRCL on March 24, following the crash, signalling contrarian institutional positioning.

• BlackRock iShares Staked Ethereum Trust (ETHB) advances toward SEC staking decision: BlackRock’s ETHB  the first yield-generating Ethereum ETF, launched on Nasdaq March 12, 2026  is approaching its SEC staking rewards decision in April; the decision will determine whether US retail investors can access on-chain Ethereum staking yields through an SEC-regulated product; a favourable ruling would be the most significant ETH-specific structural catalyst of the 2026 cycle and directly addresses the “passive income from ETH” narrative that has been suppressed by regulatory uncertainty; Ethereum’s Glamsterdam hard fork (May) targeting gas limit expansion and the Pectra upgrade remains a medium-term technical catalyst.

• Fed’s Goolsbee flags uncertainty over further rate cuts war duration is the critical variable: Federal Reserve Governor Austan Goolsbee stated Wednesday that it remains uncertain whether interest rates can be lowered again, with the timeline for any easing directly dependent on the duration of the Iran conflict and its energy price impact; Goolsbee’s comments reinforce Goldman Sachs’ base case of Fed cuts in September and December only; the Fed’s March meeting minutes which signalled the end of the “higher-for-longer” era with more aggressive 2026 cuts are now being reassessed against the energy shock arithmetic; ECB hikes in April/June and BoE deferral to 2027 remain the consensus positioning for European central banks.

• XRP spot ETF SEC decision approaching March 27  binary catalyst for XRP: The SEC’s decision on pending spot XRP ETF applications is now due March 27  two days away and represents the most asymmetric regulatory binary for XRP in the current cycle; the SEC/CFTC’s March 17 classification of XRP as a digital commodity fundamentally changes the legal posture, making a rejection internally contradictory; eight pending spot XRP ETF applications remain under review; approval is expected to catalyse a 30–50%+ same-session price move toward the 0.618 Fibonacci level at $1.92; RLUSD (Ripple’s stablecoin) continues to maintain its market cap above $1B through the Iran war stress period, demonstrating infrastructure resilience.

🏢 INSTITUTIONAL & CORPORATE

• Spot Bitcoin ETF flows institutional accumulation continuing at $70,000 levels: Following Sunday’s net inflows of +$110M (the return to positive territory), BTC ETF institutional flows are being monitored closely for Wednesday’s data; total BTC ETF NAV stands at ∼$90B (6.44% of total BTC market cap); Strategy’s 762,099 BTC treasury (last purchased 1,031 BTC at $76.6M) continues to demonstrate institutional conviction at the $70,000 level; the pattern of institutional accumulation at current levels versus gold’s 22% decline from ATH is increasingly being discussed as a structural regime shift in the relative performance of the two canonical geopolitical hedges.

• FTX $2.2B creditor distribution on March 31  6 days remains the primary near-term crypto liquidity catalyst: The FTX creditor distribution (total $10B returned; Class 7 at 120% recovery) via BitGo/Kraken/Payoneer is now 6 days away and remains the single most significant near-term crypto-specific liquidity event; historical analysis of exchange credit returns suggests a meaningful portion of distributed capital is likely to return to crypto markets; extreme fear positioning at current Fear & Greed levels (∼25) creates an asymmetric upside scenario if the distribution coincides with a genuine diplomatic breakthrough before or on Friday.

• Circle stock (CRCL)  ARK Invest buys $16.3M after 20% crash; sentiment divergence signals: ARK Invest purchased $16.3 million in CRCL on March 24 following the 18–20% single-day crash triggered by the CLARITY Act yield ban draft and the 16-wallet USDC freeze; the ARK purchase represents contrarian institutional positioning rather than a directional bet, with analysts describing it as portfolio rebalancing; Circle’s reserve income reached $733 million in Q4 2025 (USDC circulation $75.3B, +72% YoY)  underscoring the scale of the yield revenue at risk from the proposed prohibition; Circle trades at ∼$75–78/share, approximately 75% below its June 2025 peak.

• Hostplus ($105B AUM) continues evaluation of Bitcoin exposure potential landmark for Australia’s $4.5T superannuation sector: Australia’s Hostplus superannuation fund (A$150B / $105B USD for 2.2 million members) continues to evaluate Bitcoin and digital asset exposure through its Choiceplus self-directed investment option with a potential live date next financial year; if implemented, this would represent a landmark signal for the strictly regulated $4.5 trillion Australian superannuation sector where regulatory caution has historically constrained crypto adoption; the Hostplus evaluation sits alongside Bitmine’s $138M ETH purchase (3rd consecutive weekly buy) as the leading institutional conviction signals of the current period.

📈 MARKET OVERVIEW

🌐 TOTAL CRYPTO MARKET CAP: ∼$2.50 TRILLION

24h Change: BTC holding above $70,000 through War Day 26; ceasefire diplomacy providing modest risk-on support; Fear & Greed at ∼36 (Fear boundary); oil retreating further on ceasefire news. Bitcoin Dominance: ∼57.0%

₿ BITCOIN (BTC) Price: ∼$70,600 (+0.60%; Sustained Hold Above $70,000 Through War Day 26)

24h Volume: ∼$28.5B │ Market Cap: ∼$1.40 Trillion │ Dominance: ∼57.0% │ 24h Range: ∼$69,900–$71,000

Bitcoin is at ∼$70,600, holding above the $70,000 structural support level for another session as the US-Iran 15-point ceasefire proposal introduces measured optimism into risk markets. The $70,000 level has now been tested and defended across five consecutive sessions of peak geopolitical volatility (Iran War Days 22–26), with BTC consistently demonstrating its institutional demand floor established through ETF inflows and strategic treasury buying. Wednesday’s +0.6% move is modest but directionally constructive. BTC is tracking Asian equity gains on the news of the ceasefire while maintaining its outperformance versus gold, which has fallen approximately 18–20% from January’s $5,595 all-time high.

The Fear & Greed Index remains at ∼25, on the border between Fear and Extreme Fear, reflecting continued macro uncertainty even as diplomacy develops. Key near-term catalysts: (1) the XRP spot ETF SEC decision on March 27, a broader risk-on signal if approved; (2) the FTX $2.2B distribution on March 31 (6 days), the primary crypto-specific liquidity event; (3) Friday 28th March ceasefire deadline, the binary macro catalyst that will set risk asset direction for weeks. Key support at $65,000–$66,000; resistance at $72,000–$74,000. A confirmed ceasefire and the reopening of Hormuz remain the single most powerful catalyst for a breakout above $74,000.

Ξ ETHEREUM (ETH) Price: ∼$2,115 (−0.80%; Lagging BTC; BlackRock ETHB Staking Decision Approaching)

24h Volume: ∼$13.8B │ Market Cap: ∼$254 Billion │ 24h Range: ∼$2,090–$2,160

Ethereum is at ∼$2,115, underperforming Bitcoin as the ETH/BTC ratio remains suppressed during macro risk-off conditions. ETH ETFs recorded significant outflows last week (net -$59.94M in the week of March 16–20, led by BlackRock’s ETHA exiting $69.59M), reversing three weeks of inflows; however, historical net inflows remain strong at $11.91 billion. The approaching April SEC decision on BlackRock’s ETHB staking ETF, the first yield-generating Ethereum product on US markets, is the dominant near-term institutional catalyst. Bitmine (Tom Lee’s treasury firm) extended its ETH buying streak with a $138M purchase last week (its third consecutive weekly buy), reflecting sustained contrarian institutional conviction at current price levels.

The Ethereum Foundation’s 38-page governance mandate (published Monday) and technical roadmap formalising the L1/L2 architecture, along with the EF’s planned reduction of its own institutional influence, remain the structural maturation signal of the month. The Glamsterdam hard fork (May), targeting gas limit expansion and a Pectra upgrade, is a medium-term positive. The $2,100 level is the critical near-term support floor; a sustained break above $2,440 would confirm a dual breakout and signal a bullish structural shift on the daily chart.

🔷 XRP Price: ∼$1.42 │ 24h Volume: ∼$4.0B │ Market Cap: ∼$82B

XRP is at ∼$1.42, showing relative stability as the March 27 SEC spot ETF decision approaches, now 2 days away. The SEC/CFTC’s March 17 classification of XRP as a digital commodity fundamentally changes the legal posture: a rejection would be internally inconsistent and is the least likely outcome. Approval is widely expected to catalyse a 30–50%+ same-session move toward the 0.618 Fibonacci level at $1.92. Total XRP ETF net assets stand at $1.01 billion (1.14% of market cap). RLUSD (Ripple’s stablecoin) is maintaining its market cap above $1B through the conflict period in direct contrast to the Resolve USR de-peg, demonstrating the resilience advantage of well-capitalised institutional stablecoin infrastructure. XRPL real-world asset transfers and the GENIUS Act trajectory toward July 18 remain medium-term structural catalysts. The $1.40–$1.45 range is the critical near-term consolidation band before the binary ETF event.

◎ SOLANA (SOL) Price: ∼$89.50 (−0.60%; Approaching $90 Level; XRP ETF Decision a Proxy Catalyst) │ 24h Volume: ∼$3.7B │ Market Cap: ∼$47B

Solana is at ∼$89.50, consolidating near the $90 psychological level. SOL spot ETF recorded $21M in inflows last week (Bitwise’s BSOL dominating at $20.99M); total Solana ETF NAV stands at $875M (1.72% of SOL market cap). Morgan Stanley’s SOL ETF application remains under SEC review. The SEC’s Digital Commodity classification, confirming that proof-of-stake staking is not a securities event, remains foundational. The Alpenglow consensus upgrade (100–150ms finality; 98.27% validator approval) is the dominant medium-term technical catalyst. A positive XRP ETF decision on March 27 would function as a proxy risk-on catalyst for the broader altcoin ecosystem, potentially dragging SOL above $95. BTC correlation of 0.84 means a BTC push above $72,000 would likely pull SOL back above $100. A break below $85 would expose downside toward $78–$80.

🔺 CARDANO (ADA) Price: ∼$0.28 │ 24h Volume: ∼$580M │ Market Cap: ∼$10B

Cardano is at ∼$0.28, tracking broad altcoin conditions with modest volatility. The SEC’s Digital Commodity classification, confirming that ADA staking is not a securities event, remains the structural positive. Protocol Version 11, the Midnight privacy partner chain mainnet, and Leios scaling (targeting ∼1,000 TPS) are the 2026 catalysts. Hoskinson’s opposition to the CLARITY Act remains the US institutional adoption overhang. The $0.24–$0.25 floor is the critical support zone; the $0.33–$0.35 recovery target remains contingent on broader macroeconomic stabilisation following the resolution of the Iran conflict.

💕 DOGECOIN (DOGE) Price: ∼$0.093 (Digital Collectable; Highest-Beta Macro Risk Indicator) │ 24h Volume: ∼$1.1B │ Market Cap: ∼$14B

Dogecoin is at ∼$0.093, reflecting the persistent macro risk-off tone across retail-driven assets. DOGE remains more than 60% below its early-January peak. The $0.10 psychological resistance is the primary hurdle to recovery. The X Payments launch (April) and X Money integration remain medium-term catalysts; however, DOGE requires a macro risk-on signal, specifically a genuine ceasefire announcement, to re-engage retail speculative demand. The $0.085–$0.090 range is the near-term critical support band.

😨 Crypto Fear & Greed Index: ∼36

Wednesday’s Fear & Greed reading of ∼36 sits at “Fear”. The US 15-point ceasefire plan and Asian equity gains have not yet moved the index, reflecting structural macro headwinds: Hormuz remains closed, oil is still 35% above pre-conflict levels, and Iran’s dismissal prevents any genuine risk-on conviction. Historical Glassnode data compiled across all instances where the index dipped below 25 shows an average 30-day return of +18% for Bitcoin versus just +2.3% when buying during extreme greed above 75, and an asymmetric risk-reward profile that an increasing number of institutional players are now actively positioning around. The Friday 28th March deadline is the binary catalyst that will determine whether the index begins its recovery to the 50–65 Neutral/Greed range within 2–4 weeks, or retests the single-digit levels seen earlier this month. The FTX $2.2B distribution on March 31 (6 days) remains the primary crypto-specific liquidity catalyst that could independently support a sentiment recovery.

🏛️ TRADITIONAL MARKETS CONTEXT

Wednesday’s market session is defined by the most substantive diplomatic development since Day 1 of the Iran conflict: the US has formally presented Iran with a 15-point peace proposal and is seeking a one-month ceasefire. Reuters, the New York Times, and Israel’s Channel 12 all independently confirmed the plan. The market reaction is positive, but measured  Asian equities are up 2–3%, European futures are up 1.2%, and oil has retreated 5–7%. Still, investors are acutely aware that Iran’s armed forces spokesperson dismissed the proposal as Washington “negotiating with itself” and Israeli strikes are continuing independently. The reaction is thus better characterised as diplomatic optionality pricing rather than ceasefire pricing.

Brent crude at ∼$97/bbl (−7%) and WTI near $87/bbl represent the largest single-session oil retreat since Monday’s 11% drop. However, the Strait of Hormuz remains effectively closed, and Goldman Sachs’ Q2 2026 Brent target of $110/bbl is unchanged, with the 2008 $147/bbl record scenario still embedded in the tail-risk framework under a six-week extended closure assumption. US gas prices at $3.96/gallon reflect 24+ consecutive days of increases now exceeding the Hurricane Katrina and Ukraine invasion spikes in duration. Saudi Arabia’s East-West Pipeline diversion to Yanbu and the UAE’s Abu Dhabi Crude Oil Pipeline to Fujairah continue to provide partial bypass capacity.

Gold’s recovery to ∼$4,570–$4,600/oz (+2.5%) during Wednesday’s Asian session is technically significant: it builds on Tuesday’s stabilisation near the 200-day SMA at ∼$4,100, a four-month low that provided support after gold’s 8% single-day crash. The mechanism is the mirror image of gold’s recent decline. As oil retreats and hopes of a ceasefire reduce the most extreme hawkish repricing, the dollar weakens marginally and gold benefits. However, gold remains approximately 18–20% below January’s $5,595 all-time high and faces technical resistance at the 21-day SMA (∼$4,970) and 50-day SMA. A genuine ceasefire and the reopening of Hormuz would likely trigger a rapid dollar recovery, which would cap gold’s upside even in a de-escalation scenario.

Japan remains the most exposed G7 economy to sustained disruption of Hormuz, given its 95% dependence on Middle East crude imports. Prime Minister Takaichi is continuing discussions on a joint US-Japan strategic petroleum reserve venture. China’s strategic reserve buffer and Iranian oil access continue to insulate its economy, with Chinese-flagged vessels among the few transiting the Strait. South Korea (+2% Wednesday) is showing equity resilience despite the Korean Won near two-decade lows versus the dollar. The EU’s Von der Leyen has called for negotiations; Slovenia remains the only EU member to have implemented emergency fuel rationing (a 50 L/day cap for private drivers).

💡 DCW INTELLIGENCE & INSIGHTS

Iran War Day 26: The 15-Point Plan, Tokenisation Day, and the Circle Yield Architecture Collapse.

The dominant intelligence themes for March 25th converge on four structural developments with immediate and long-term significance.

First, the US 15-point settlement proposal is qualitatively different from Monday’s five-day pause in one critical respect: it is a written, structured framework sent through confirmed diplomatic channels. The pause was a public social media announcement; the 15-point plan is a document. This distinction matters because it means there is now something for Iranian decision-makers to deliberate internally, even if Iran’s public position remains a categorical rejection. Witkoff and Kushner’s active engagement, along with the Islamabad back-channel reports from earlier this week, suggest that a more sophisticated diplomatic architecture is being assembled behind the public posturing. We should monitor two specific indicators: (a) whether Iran’s silence on the specific contents of the 15-point plan persists beyond 48 hours; silence is often more revealing than categorical denial in diplomatic contexts; (b) whether the UN Security Council convenes an emergency session this week, which would signal that multilateral pressure is being applied simultaneously.

Second, today is the most significant single day in the history of the US regulatory architecture for tokenisation. The House Financial Services Committee hearing (“Tokenisation and the Future of Securities”), the NYSE-Securitise partnership announcement, the SEC’s previously approved Nasdaq tokenisation pilot, and BlackRock’s $500M revenue projection have all converged on the same Wednesday. This is no coincidence: institutional actors have been coordinating the regulatory, legislative, and commercial narratives around tokenisation to maximise the signal as the CLARITY Act approaches its Senate markup. DCW members advising on RWA strategy should note that the hearing’s two draft bills, the Modernising Markets Through Tokenisation Act and the Capital Markets Technology Modernisation Act, have fundamentally different implications: the former establishes a study; the latter establishes a right. The right to use blockchain for record-keeping, if codified, is the infrastructure-layer unlock that enables the $18.9 trillion market projection to be operationalised.

Third, the Circle CRCL collapse is a stress test of the “regulated stablecoin premium” thesis. Circle’s market position has been built on the argument that its regulatory compliance, annual Deloitte audits, monthly attestations, and SEC registration justify a premium valuation over Tether. The CLARITY Act yield ban, if passed, eliminates the competitive tool (USDC rewards via Coinbase) that made Circle’s compliance premium commercially defensible. For DCW members, the immediate analytical question is whether the yield ban is the death of the regulated stablecoin pass-through model or a temporary competitive disruption that forces a model evolution. DCW’s view: the ban, if enacted, creates a significant tailwind for Tether (which does not depend on retail yield programmes) and for institutional-grade “payment stablecoin” models precisely the architecture the GENIUS Act is designed to favour. The Senate Banking Committee markup in April will be the decisive test.

Fourth, the XRP spot ETF SEC decision on March 27, two days away, is the most asymmetric binary catalyst remaining in the near-term crypto calendar. The SEC/CFTC’s March 17 commodity classification of XRP is “internally contradictory”, in the words of multiple legal analysts. Approval is widely expected to catalyse a 30–50%+ same-session XRP move and a broader altcoin risk-on response, benefiting SOL, ADA, and the wider digital commodity ecosystem. Think of this position as an event within the broader regulatory momentum: the commodity classification, the CLARITY Act advance, today’s tokenisation hearing, and the GENIUS Act’s July 18 deadline collectively represent the most comprehensive US crypto regulatory framework since the Bitcoin ETF approval in January 2024.

🔴 ELEVATED RISKS: Geopolitical, Macro & Market Structure

• Iran Rejects 15-Point Plan: Tehran IRNA: US is “negotiating with itself”; no confirmation of specific plan contents; Israeli strikes continuing independently; Friday 28th March expiry remains binary  breakthrough or escalation resumption; Goldman $147/bbl 2008 record scenario in play under extended disruption; 82nd Airborne deployment to region signals US military readiness regardless of diplomatic track

• Oil Still Structurally Elevated: Brent ∼$97 after 7% ceasefire drop still 35% above pre-conflict February levels; WTI ∼$87; Goldman Q2 target $110/bbl unchanged; Hormuz still effectively closed; 12+ mines confirmed in Strait; Saudi East-West Pipeline diversion active; US gas $3.96/gallon continuing multi-week rise; 24+ consecutive daily increases

• Gold Bear Phase Ongoing Despite Recovery: Gold ∼$4,570–$4,600, recovering +2.5% Wednesday but still 18–20% below January $5,595 ATH; worst month since October 2008; Silver recovering alongside; 10yr Treasury ∼4.33%; Goldman maintains Fed cuts Sep/Dec only; BoE cuts 2027; ECB hikes mooted Apr/Jun

• Circle/CRCL Structural Pressure: CRCL down 18–20% on CLARITY Act yield ban draft; 16 USDC business wallets frozen via civil court order; Tether Big Four audit announcement adds competitive pressure; pass-through model with Coinbase under direct legislative threat; ARK $16.3M purchase signals contrarian positioning but does not negate fundamental model risk

• Macro Deceleration Persists: Goldman recession probability 30%; S&P 500 down ∼5% YTD; average Nasdaq member −30% from 2026 peak; Apollo private credit 45% withdrawal cap; Fed Goolsbee flags rate cut uncertainty linked to war duration; PMI data showing initial real economy deterioration from energy shock

🟢 POSITIVE DEVELOPMENTS: Regulatory, Diplomatic & Structural

• US 15-Point Ceasefire Plan: Washington’s formal written proposal to Iran is the most substantive diplomatic architecture of the conflict; Witkoff and Kushner engaged; Islamabad back-channel live; a genuine ceasefire before/on Friday would be the single most powerful risk-asset catalyst available; oil -7% already on the news; markets up 2–3% across Asia on the development

• Tokenisation Day  Structural Infrastructure Accelerating: House Financial Services Committee landmark tokenisation hearing today; NYSE-Securitise 24/7 tokenised stock platform announced; BlackRock $500M crypto revenue projection; Fink identifies $100T wealth management “on-chain” transition as 2030 primary growth vector; RWA market $26.48B on-chain and growing; CLARITY Act Senate markup April

• XRP ETF Decision March 27 (2 Days): SEC/CFTC commodity classification makes rejection “internally contradictory”; eight pending applications; approval expected to catalyse 30–50%+ same-session XRP move; broader altcoin risk-on proxy; RLUSD maintaining $1B+ market cap through conflict period  stablecoin infrastructure resilience validated

• FTX $2.2B Distribution March 31 (6 Days): $10B total returned to creditors; Class 7 at 120% recovery; BitGo/Kraken/Payoneer distribution; primary near-term crypto liquidity catalyst; historical capital return patterns suggest meaningful re-entry to crypto markets; extreme fear positioning creates asymmetric upside if it coincides with a diplomatic breakthrough

• Bitcoin Structural Support Intact: BTC holding $70,000 through 26 consecutive days of Iran War macro pressure; 46 consecutive days of Fear/Extreme Fear  Glassnode data shows average +18% 30-day return from sub-25 entries; institutional demand floor (Strategy 762,099 BTC; ETF NAV $90B) demonstrably resilient; digital gold narrative sustained through gold’s 18–20% decline from ATH

💸 STABLECOINS, TOKENISATION & REGULATORY FRAMEWORKS

Wednesday’s convergence of the CLARITY Act yield ban draft, the Circle USDC wallet freeze, the House Financial Services tokenisation hearing, and the NYSE-Securitise announcement represents the most concentrated single day of US stablecoin and tokenisation regulatory development since the GENIUS Act was introduced. The intelligence implications for DCW members are structured across three layers.

The CLARITY Act yield ban draft confirmed Monday in closed-door Capitol Hill sessions prohibits digital asset service providers from offering yield “directly or indirectly” on stablecoin balances or in any manner “economically or functionally equivalent” to bank interest. For DCW members advising stablecoin issuers, this provision eliminates the pass-through model that Circle and Coinbase have used to share USDC reserve income with retail holders. The practical question is whether the prohibition applies to on-chain programmatic yield distribution as well as to centralised rebate programmes. If so, it directly threatens Ethena’s USDe, yield-bearing RWA tokens, and any DeFi protocol that routes reserve yield to stablecoin holders. The distinction will likely be resolved in the Senate Banking Committee markup language in April.

RLUSD (Ripple’s stablecoin) has now maintained its market cap above $1 billion through 26 consecutive days of Iran War-related stress, including Monday’s market-wide panic and the GENIUS Act legislative turbulence. The contrast between RLUSD’s institutional resilience and the Circle wallet freeze episode is analytically significant: RLUSD’s architecture does not rely on civil court-ordered freezes via a smart-contract blacklist, as its primary use case is institutional cross-border settlement rather than retail DeFi. This distinction is the operational manifestation of the GENIUS Act’s two-tier architecture debate: well-capitalised, institutionally managed stablecoins with clearly defined use cases demonstrably outperform algorithmically reliant or broadly distributed designs under stress.

The NYSE-Securitise announcement of a 24/7 tokenised stock trading platform using BlackRock-backed infrastructure is the most concrete institutional implementation of the tokenisation thesis to date. It arrives the day before the House tokenisation hearing (and one week after the SEC’s approval of the Nasdaq tokenisation pilot), creating a three-way regulatory, legislative, and commercial signal that the US is constructing the infrastructure for a tokenised securities market. Please note that “Tokenisation-as-a-Service” (BlackRock’s Aladdin platform strategy) is now the primary commercial frame through which traditional finance is entering the on-chain economy, not through crypto-native protocols, but through regulated entities using blockchain for settlement and record-keeping within existing regulatory frameworks.

🤖 TECHNOLOGY, AI & INNOVATION

The most significant technology development for Wednesday is the convergence of the congressional tokenisation hearing with the NYSE-Securitise announcement: together, they represent the institutional and legislative architecture for the transition of traditional securities markets to blockchain-based settlement. The two bills under hearing examination today, the Modernising Markets Through Tokenisation Act and the Capital Markets Technology Modernisation Act, address fundamentally different layers of the tokenisation stack. The former is a study mandate that forces regulatory cooperation between the SEC and CFTC; the latter is an operational right that allows broker-dealers to use blockchain for record-keeping within existing SEC compliance frameworks. The operational right, if enacted, is the more immediately consequential provision: it removes the compliance ambiguity that has been the primary barrier to broker-dealer blockchain adoption.

BlackRock’s Fink identifying “Tokenisation-as-a-Service” via the Aladdin platform as a primary revenue vector alongside the $500M annual crypto revenue projection signals that the world’s largest asset manager has moved from crypto as a product category to crypto as infrastructure. The Aladdin system manages $21.6 trillion in assets for third-party clients. If BlackRock succeeds in moving even a fraction of that managed infrastructure onto blockchain rails, the addressable market for its on-chain custody and settlement revenue exceeds the $500M projection by orders of magnitude. Think about tracking the Aladdin-on-chain announcement as the single most consequential institutional milestone for the tokenisation thesis in 2026.

Fed Governor Goolsbee’s Wednesday comment that the timing of a rate cut depends directly on the duration of the Iran war is the clearest single-sentence articulation of the macro constraint facing all technology and crypto valuations in the current environment. Rate-sensitive assets (including gold, high-growth tech, and crypto) are all subject to the same binary: if the war ends before Friday, the rate path softens, and valuations recover; if strikes resume, the energy inflation shock deepens, and the hawkish consensus hardens further. When advising on AI governance, fintech infrastructure, or digital asset strategy, they should incorporate this binary explicitly into their 2026 H1 scenario modelling.

🌍 GLOBAL MONETARY POLICY & MACROECONOMIC

The G4 central bank picture is showing its first tentative signs of conditional softening on Wednesday, as oil’s 5–7% retreat on ceasefire news introduces the possibility that the energy inflation shock may be peaking. Goldman Sachs maintains its base case: Fed cuts in September and December only; BoE cuts deferred to 2027; ECB hikes in April and June, but acknowledges the ceasefire timeline is the single variable capable of materially altering this path. If a genuine ceasefire is announced before or on Friday, and Hormuz reopens within weeks, Goldman’s economists have indicated that the Fed cut timeline could be brought forward by one quarter and that European hike expectations would be substantially reduced. Fed Governor Goolsbee’s explicit linkage of the feasibility of rate cuts to the duration of the war on Wednesday morning is the clearest public articulation of this conditional path dependency.

UK February CPI data was released on Wednesday at 07:00 GMT, with consensus expectations pointing to sustained inflation pressure. The reading is directly relevant to BoE policy expectations: a higher-than-expected print would reinforce the 2027 deferral thesis, while a softer reading could introduce a modest dovish repricing. The 10-year US Treasury yield at ∼4.33%, down 6 bps from Monday’s session, reflects the market’s tentative diplomatic optimism but remains elevated relative to pre-conflict levels. The dollar is under modest pressure (∼158.8 yen; $1.162 per euro) as safe-haven demand retreats slightly on the ceasefire headlines.

Japan’s extraordinary vulnerability to a sustained Hormuz closure, 95% of crude imports from the Middle East, means Wednesday’s +3% Nikkei surge on ceasefire news is directly proportional to the oil price retreat rather than any fundamental equity re-rating. China’s strategic petroleum reserve buffer and access to Iranian oil supply continue to provide relative insulation; Chinese-flagged vessels remain among the few transiting the Strait commercially. The IEA and European Commission have both formally called for a negotiated settlement, while Slovenia remains the only EU member to have imposed emergency fuel rationing. The macroeconomic damage from 26 days of ∼35% elevated oil prices is already evident in PMI deterioration; every additional week of conflict deepens the structural growth impact that will define central bank decisions in H2 2026.

📰 Other News Stories

• Asian markets Wednesday: Japan/Nikkei +3%; South Korea +2%; Australia ASX 200 +2% on US 15-point ceasefire plan; S&P 500 futures +0.7% Asia; European futures +1.2%; FTSE futures +0.7%; VIX still elevated; Goldman US recession probability 30%; Friday 28th March binary deadline
• Gold ∼$4,570–$4,600/oz (+2.5%); silver recovering alongside; gold ∼18–20% below January $5,595 ATH; worst month since October 2008; 200-day SMA at ∼$4,100 provided support this week; 10yr Treasury ∼4.33%; dollar under modest pressure (∼$1.162/EUR; 158.8 yen)
• Brent ∼$97/bbl (−7%); WTI ∼$87/bbl; retreating on US 15-point ceasefire plan; Goldman Q2 Brent target $110/bbl unchanged; 2008 $147/bbl tail-risk scenario intact; US gas $3.96/gallon; 24+ consecutive daily rises; Hormuz commercially closed; Saudi East-West Pipeline and UAE ADCO pipeline diversions active
• BTC ∼$70,600 (+0.60%; holding $70,000 structural support); ETH ∼$2,115 (−0.80%); XRP ∼$1.42; SOL ∼$89.50; ADA ∼$0.28; DOGE ∼$0.093; total market cap ∼$2.50T; BTC dominance ∼57.0%; Fear & Greed ∼36 (Fear/Extreme Fear boundary); 46th consecutive day of fear; FTX $2.2B distribution March 31 (6 days)
• BlackRock CEO Fink $500M annual crypto revenue projection: 2026 shareholder letter projects $500M within five years from iShares ETF fees (IBIT $45B+ AUM), BUIDL tokenised fund ($2B+ AUM), on-chain custody; manages $65B stablecoin reserves; $80B digital-asset ETPs; BUIDL as “MVP” for Aladdin-on-chain Tokenisation-as-a-Service strategy
• House Financial Services tokenisation hearing today (10 AM EDT): “Tokenisation and the Future of Securities”; two bills: Modernising Markets Through Tokenisation Act (SEC/CFTC joint study) and Capital Markets Technology Modernisation Act (broker-dealer blockchain record-keeping rights); RWA on-chain market $26.48B; CLARITY Act Senate markup targeted April
• NYSE taps BlackRock-backed Securitise: first digital transfer agent for 24/7 tokenised stock and ETF trading platform; Securitise manages $4B+ tokenised assets; SEC/FINRA approval pending; launch late 2026; arrives alongside Nasdaq tokenisation pilot (SEC approved March 18); broader tokenised asset market +310% over 12 months; BCG/Ripple project $18.9T by 2033
• Circle CRCL down 18–20%: CLARITY Act yield ban draft confirmed; prohibition on stablecoin yield “directly or indirectly” or “economically equivalent” to bank interest; Circle’s pass-through model with Coinbase directly targeted; ARK Invest buys $16.3M in CRCL post-crash; Tether Big Four audit announcement adds competitive pressure; CRCL ∼75% below June 2025 IPO peak
• Circle freezes USDC in 16 business hot wallets: linked to undisclosed US civil case; ZachXBT on-chain analysis identifies exchanges, casinos, forex firms affected; smart contract blacklist functionality used; wallets render immobile  vendor payments, withdrawals, trade settlement blocked; ZachXBT criticises Circle for insufficient pre-freeze verification; reinforces centralisation concerns
• XRP spot ETF SEC decision March 27 (2 days): March 17 commodity classification makes rejection internally contradictory; eight pending applications; 30–50%+ same-session price move expected on approval; broader altcoin risk-on proxy; RLUSD maintaining $1B+ market cap through conflict
• Fed Goolsbee: uncertain whether rates can be lowered again  depends on war duration; reinforces Goldman base case: Fed cuts Sep/Dec only; BoE cuts 2027; ECB hikes Apr/Jun; UK February CPI released Wednesday 07:00 GMT
• Ethereum Foundation 38-page governance mandate: published Monday; formalises EF’s planned institutional retreat; clarifies L1/L2 architecture; Bitmine $138M ETH purchase (3rd consecutive weekly buy); ETHB staking ETF SEC decision approaching April; Glamsterdam hard fork May targeting gas limit expansion

📅 Looking Ahead March 2026

Key Events and Catalysts:

This Week:

The defining event of the week remains Trump’s five-day pause expiry on Friday, 28th March. The binary outcome, a genuine diplomatic breakthrough enabled by the 15-point plan, or a resumption of infrastructure strikes, will set the risk asset direction for the subsequent month. Markets will begin pricing the outcome on Thursday. Wednesday’s key watch points are: (a) any Iranian response to the specific contents of the 15-point plan; (b) whether Islamabad back-channel talks are confirmed publicly; (c) US gas price data and PMI follow-up readings for the first week of confirmed energy shock impact on the real economy. The XRP spot ETF SEC decision on March 27 is the week’s primary crypto-specific binary, and the House tokenisation hearing today is the week’s most significant structural regulatory development for the digital asset and RWA ecosystem.

March 2026:

The FTX $2.2B creditor distribution on March 31 (6 days) is the primary near-term crypto liquidity event. BlackRock ETHB staking ETF SEC decision approaching April. X Money launches in April. GENIUS Act advancing toward July 18th. Bitcoin reserve bills advancing in Arizona, Missouri, Texas and Indiana. CLARITY Act Senate Banking Committee markup targeted for the second half of April. Morgan Stanley SOL ETF application under SEC review. Ethereum’s Glamsterdam hard fork (May). CONV£RGENCE London at Mansion House (April 22nd) convenes at the height of the Iran war’s macro impact on the digital asset and Web3 ecosystem.

Q1–Q2 2026 Broader Themes:

The Friday 28th March binary  15-point plan breakthrough or strike resumption as the conflict’s most acute current decision node; Bitcoin’s sustained hold above $70,000 through 26 days of Iran War pressure as the definitive validation of the institutional ETF-driven demand floor thesis; the tokenisation infrastructure convergence (NYSE-Securitize, congressional hearing, BlackRock Aladdin-on-chain) as the decade-defining architecture for the transition of $100T of traditional assets onto blockchain rails; the CLARITY Act stablecoin yield ban as the most consequential single legislative provision for the DeFi competitive landscape in 2026; and the XRP commodity classification and ETF decision as the prototype for how the March 17 SEC/CFTC ruling will reshape the institutional adoption trajectory of the broader digital commodity ecosystem.

CONV£RGENCE London and The Digital Commonwealth Awards 2026 in partnership with Datavault AI, Inc.

Where the World's Digital Future Comes Together at Mansion House, London.

Limited number of tickets available via the link

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DCW's CONV£RGENCE 2026 London Forum at Mansion House (April 22nd) will convene leading voices at the intersection of these converging themes.

ℹ️ About The Digital Commonwealth

The Digital Commonwealth Limited (DCW) is an independent industry organisation representing AI, Blockchain, DePIN, Digital Assets, ScienceTech, and Web3 sectors across our Community. Through strategic initiatives, including the Mansion House Summit Series, DCW Weekly Roundup research, DCW Cover insurance services, DCW Frontier Focus newsletter, and comprehensive advisory functions, we drive innovation, education, and collaboration across the digital economy ecosystem.

DCW’s mission is to facilitate dialogue among industry stakeholders, policymakers, and regulators, whilst providing members with cutting-edge research, networking opportunities, and market intelligence. Our events bring together leading voices from traditional finance, technology innovation, and regulatory bodies to advance thoughtful frameworks supporting responsible digital asset adoption. Through DCW Cover, we address the critical insurance needs of participants in the digital economy, whilst our research publications provide authoritative analysis of regulatory developments, market trends, and technological innovation shaping the future of finance.

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⚠️ Disclaimer

This briefing is provided for informational purposes only and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. The Digital Commonwealth Limited does not recommend that any cryptocurrency or digital asset be bought, sold, or held by you. Conduct your own due diligence and consult your financial adviser before making any investment decisions. Past performance is not indicative of future results.

The information contained in this briefing has been compiled from sources believed to be reliable. Still, DCW makes no representation or warranty, express or implied, as to its accuracy, completeness, or correctness. All views and opinions expressed herein are those of the authors and do not necessarily reflect the views of The Digital Commonwealth Limited or its affiliates.

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