US-Canada tariff flip-flops have Bitcoin miners on their toes
Bitcoin miners are adapting their business strategies as the continued trade war between the US and Canada makes energy prices and policies all the more uncertain.US President Donald Trump threatened to double his tariffs on steel and aluminum from 25% to 50%, leading the government of the province of Ontario to walk back its own plan to increase the cost of power exports to the US.Ontario Premier Doug Ford had promised to further increase the surcharge or even “shut off the electricity completely,” given further provocation. However, he appears to have softened his stance, at least for now. The trade war may have reached a lull, but some crypto firms are looking ahead at possible policy changes in order to protect their growth. Bitcoin miners expect changes in energy marketsBen Ganon, the CEO of Canadian Bitcoin mining firm Bitfarms, told Bloomberg on March 11 that the recent energy price hikes, had they gone through, were unlikely to affect his firm’s business. Bitfarms’ operations are mostly in Quebec and British Columbia, both of which boast significant hydroelectric capacity in relation to the total provincial energy mix. Ontario, by comparison, is “not as robust of an energy market. And over the last several years, they’ve really taken a big push on cutting back on baseload capacity.”But even though Bitfarms’ energy situation may look solid for the time being, Ganon said that the tariffs “have implications for what policy and regulatory frameworks are going to look like in the future.”He said that his firm wants to see “greater access to electricity markets” as well as fewer regulations on setting up a new business or new power applications. Energy policy has been a contentious area of debate in Canadian politics, with critics accusing the Liberal government — now led by Prime Minister Mark Carney — of harming the Canadian economy with their strategies to lower emissions. Related: What Canada’s new Liberal PM Mark Carney means for cryptoGanon said: “The opportunities that are present in the United States are also present in Canada. And I think that this will all resolve itself and end up in a much more deregulated and smooth and efficient market because for years it’s been tied up in regulatory red tape.”How would a Bitcoin miner benefit from tariffs?Tariffs on goods such as steel, aluminum, and other industrial products — intended to encourage domestic production in the US— also impact Bitcoin miners, with some effects being unexpectedly beneficial.While Ganon noted that miners can’t control the Bitcoin price, they can control their electricity costs. “One of the ways that we can do that is we can look for pockets of energy that are underutilized, that used to power heavy industry, which has been outsourced to other countries over the last 20 or 30 years.”According to Ganon, Bitfarms has operations in Pennsylvania — a “Rust Belt” state heavily affected by the outsourcing of American steel and metals industries. His firm’s assets could soon be in high demand if the US manufacturing industry were to come back from the dead.Ganon said that Bitcoin miners have been investing heavily in energy infrastructure that “used to power aluminum smelters and steel refineries and all the stuff which was outsourced.”“Now Bitcoin miners have these assets. And as the pendulum swings back to America, those assets are now in high demand.”China tariffs squeeze Bitcoin mining hardwareCanadian miners like Bitfarms may be unconcerned for now, but Trump’s tariffs on China have already begun to squeeze American crypto miners, who import hardware from China-based firms like Bitmain.According to Bloomberg, shipments of Bitcoin mining hardware from China to the US were experiencing significant delays as of February 2025. The delays reportedly were the result of the US blacklisting Bitmain’s AI affiliate Xiamen Sophgo Technologies. Heavy customs fees for inspections of Bitmain-affiliated hardware have cost US miners up to $500,000, according to Vishnu Mackenchery, director of global logistics and services at Compass Mining Inc. New tariffs could make new imports of next-gen miners to the US “completely cost-prohibitive,” according to Synteq Digital CEO Taras Kulyk.China-based mining hardware producers like Bitmain could set up operations in other countries to avoid US sanctions. During Trump’s first term, when he imposed a 25% tax duty on a number of consumer electronic goods from China, many mining hardware producers moved to Malaysia, Indonesia and Thailand to avoid tariffs.Bitmain even announced it would launch a US production line in December 2024 to “provide faster response times and more efficient services to the North American customers.” Bloomberg noted that the firm did not provide the exact location of its US line. Related: Treasury Secretary Scott Bessent says US should bring BTC onshoreTrump’s economic policies continue to be a mixed bag for the crypto industry. Wild fluctuations in trade policy and last-minute reversals have made the market difficult to predict. Elsewhere, the European Union has promised to impose counter-tariffs on the US, further threatening asset valuations. Bitcoin price chart Sept. 1, 2024 to March 13, 2025. Source: TradingViewMarcin Kazmierczak, co-founder and chief operating officer of blockchain oracle solution firm RedStone, told Cointelegraph this could see Bitcoin sink to $75,000, a level not seen since November 2024. Magazine: Mystery celeb memecoin scam factory, HK firm dumps Bitcoin: Asia Express
Web3 firm Addressable introduces new marketing metric for crypto wallets
Web3 marketing firm Addressable has launched cost per wallet (CPW), a new metric aimed at improving user acquisition tracking for decentralized applications (DApps) and blockchain businesses.Announced on March 13, CPW is designed to provide more precise insights for Web3 marketers by tracking onchain wallet activity rather than traditional Web2 advertising metrics like cost per acquisition (CPA) and cost per click (CPC).A lower CPA means customer acquisition is more efficient, while a lower CPC indicates that businesses are implementing more cost-effective ad campaigns. Addressable claims that CPW would allow businesses to determine which users are “high-value” and are more likely to get converted into their marketing funnels, helping them optimize their marketing efforts and avoid “bots.” Users with wallets more likely to convert to crypto productsAddressable chief operating officer and co-founder Asaf Nadler told Cointelegraph that their analysis data showed that users with a wallet are more likely to convert to crypto products:“Our analysis reveals a striking insight: users with a crypto wallet installed are 18 times more likely to sign up and seven times more likely to convert to crypto products.”Nadler argued this makes CPW a “more effective” metric than traditional metrics. The executive said metrics like CPC or cost per impression (CPM) often fail to determine who are high-intent users and which ones are simply “low-quality traffic,” users who may not be interested in their products. “For the first time, crypto companies can accurately measure which campaigns drive engaged, high-value users, rather than wasting resources on bots or ‘normies’ who are unlikely to convert,” Nadler told Cointelegraph. In a press release, Addressable said the new Web3-native acquisition metric could help crypto projects track how many users become active participants in decentralized finance (DeFi) protocols, wallets or exchanges. Effect of wallet ownership on engagement, logins and conversions Source: AddressableRelated: UAE saw 41% increase in crypto app downloads in 2024 — AppsFlyerMarketing for institutional adoptionWhile CPW primarily targets retail user acquisition, the broader crypto industry is also shifting focus toward institutional adoption.On Jan. 22, Etherealize, a marketing firm backed by the Ethereum Foundation, launched to educate institutions on blockchain and Ether (ETH). Etherealize co-founder Grant Hummer said the company wants to bring “all of Wall Street onto Ethereum rails.” Additional reporting by Ezra Reguerra. Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why
Wallet in Telegram to list 50 tokens and launch yield program
Wallet in Telegram, a third-party cryptocurrency wallet Mini App on Telegram, is set to expand its custodial crypto services, adding at least 50 new cryptocurrencies and launching an earn feature for users.The Open Platform (TOP), the largest venture builder in The Open Network (TON) ecosystem, which manages Wallet in Telegram as one of its portfolio businesses, announced the rollout of the next wallet generation on March 13, introducing a wide range of new features.With the rollout, Wallet in Telegram will add at least 50 new crypto assets, including major cryptocurrencies Ether (ETH) and XRP (XRP), as well as memecoins like Dogecoin (DOGE) and Pepe (PEPE), a spokesperson for Wallet told Cointelegraph.Source: Wallet in TelegramWallet’s new generation is set to be rolled out within the next two months and will also introduce an “Earn” feature, which will allow users to gain yields on assets including Tether’s USDt (USDT).Initial rollout limited to in-app transactionsInitially, Wallet users will be able to buy, sell and hold non-TON tokens without onchain deposits or withdrawals, meaning altcoin transactions to other wallets and exchanges will not be allowed.“The current stage of the rollout is only available for in-app transactions for non-TON tokens,” Wallet’s spokesperson said, adding that the altcoin option is only available for trading within the custodial wallet. The spokesperson added:“We focus primarily on the TON Ecosystem and maintain a full range of operations for TON-native tokens within the custodial Wallet. At the same time, we see consumer interest in expanding the portfolio with other assets and want to provide them with such an option in trade-only mode.”“The list of tokens is not final yet, as it will be rolling out gradually within the next two months,” the spokesperson said, adding that the first release will feature 50 assets, with a full list now being finalized.Wallet’s Earn: Minimum deposit is 0.1 TONIn addition to expanding Wallet with a large number of altcoins, TOP is working to introduce the new “Trade” section and the “Earn” section.Starting with Toncoin (TON), the first Earn campaign will provide a “flexible yield” on TON deposits, with a minimum deposit amount of 0.1 TON.“The yield is generated from TON staking,” the spokesperson for Wallet said.In addition to Toncoin, Wallet plans to expand the earn offering to more altcoins and stablecoins, including Tether’s USDt (USDT), the announcement stated.This is a developing story, and further information will be added as it becomes available. Magazine: Mystery celeb memecoin scam factory, HK firm dumps Bitcoin: Asia Express
Ethereum average gas fees drop 95% one year after the Dencun upgrade
The average Ethereum gas fee has dropped by 95% in the year following the Dencun upgrade, one of Ethereum’s most significant network improvements.On March 13, 2024, Ethereum’s Dencun upgrade was rolled out. The upgrade combined the Cancun upgrade on the execution layer and the Deneb upgrade on the consensus layer. It also introduced nine Ethereum Improvement Proposals (EIPs).The primary goal was to enhance Ethereum’s scalability and reduce transaction costs for layer-2 networks. According to YCharts data, Ethereum’s average gas fee has fallen from 72 gwei in 2024 to just 2.7 gwei as of March 12, 2025.Last year, an average swap cost users $86 in fees, while non-fungible token sales averaged $145 in gas fees. At the time of writing, Etherscan data showed that an average swap would cost $0.39, while an NFT sale would average $0.65. Ethereum average gas fee. Source: YCharts Ether price has dropped 53% since the Dencun UpgradeDespite the sharp drop in gas fees, Ether (ETH) price has declined by 53% since the Dencun upgrade.During the upgrade in March 2024, ETH was trading above $4,070. One year later, as of March 13, 2025, ETH was valued at around $1,891, according to CoinGecko data.Ether’s 1-year price chart. Source: CoinGeckoIn a statement sent to Cointelegraph, Dominik Harz, the co-founder of hybrid layer-2 Build on Bitcoin (BOB), said Ethereum has “underperformed” recently:“Monday’s price drop erased all DeFi TVL gains since Trump’s election. Between Solana’s memecoin frenzy and Ethereum’s fractured few months, it’s clear the industry is searching for a new, more sustainable and secure frontier for DeFi.” Related: More than 50% of validators signal to increase ETH gas limitUpcoming Pectra upgrade sees hiccupsOn March 5, Ethereum’s next major upgrade, Pectra, rolled out on its final testnet, Sepolia. However, the team started seeing error messages and empty blocks being mined.Ethereum developer Marius van der Wijden confirmed that a fix was deployed, but an unknown user later triggered the same error, leading to further issues. The development team has since managed to stabilize the testnet and successfully process transactions.Harz said that while these testnet issues are “disrupting the mainnet launch,” they are far from Ethereum’s biggest problems. The executive said that once Pectra goes live, it will double the available data space for layer-2s, reduce costs and increase execution capacity. “While that’s a step in the right direction, the reality is that Ethereum is quickly losing its position as the go-to chain for builders, and Pectra isn’t the fix-all solution to its deeper issues,” Harz said. Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why
US Bitcoin ETFs break outflow streak with $13.3M inflow
Over $1.67 billion exited US spot Bitcoin and Ether exchange-traded funds (ETFs) in March, but investors stopped the bleeding by bringing in $13.3 million on March 12 as the BTC market price inched closer to $85,000.As of March 12, spot Bitcoin ETFs had attracted $35.4 million worth of inflows spread across two days, according to Farside Investors data. On the other hand, spot Ether ETFs recorded inflows on just one occasion, bringing in $14.6 million on March 4.Spot Bitcoin ETF daily flow data. Source: Farside InvestorsBitcoin ETFs break outflow streak with $13.3 million inflowAccording to Sosovalue, the cumulative net inflows of BTC ETFs confirmed the recent $13.3 million inflow on March 12, signaling a pause in Bitcoin’s ETF outflows.The total value of the trades that day for Bitcoin ETFs amounted to $2.01 billion, its lowest daily value since Feb. 20. The inflows were contributed by three BTC funds: BlackRock’s iShares Bitcoin Trust (IBIT), the ARK 21Shares Bitcoin ETF (ARKB) and the Grayscale Bitcoin Mini Trust ETF (BTC).Daily flow of investments into spot Bitcoin ETFs. Source: SosovalueOn the Ethereum side, the one day of inflows saw contributions from the Fidelity Ethereum Fund (FETH), Bitwise Ethereum ETF (ETHW), Grayscale Ethereum Trust (ETHE) and the Grayscale Ethereum Mini Trust (ETH).Spot Ether ETF daily flow data. Source: Farside InvestorsMarket downturn and geopolitical tensions drive ETF outflowsThe broader market downturn and macroeconomic uncertainties have contributed to the ETF outflows, driven by geopolitical tensions, trade wars and bearish investor sentiment.Related: Crypto ETPs see 4th straight week of outflows, totaling $876M — CoinSharesAnalysts say that the lack of concrete implementation or unmet expectations regarding President Donald Trump’s Strategic Bitcoin Reserve plan has also exacerbated selling pressure.Despite Bitcoin maintaining levels above $80,000, market watchers warned that the upcoming European Union retaliatory tariffs could introduce greater volatility, further influencing Bitcoin’s price trajectory.Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why
Web3’s UX problem — and how to fix it, feat. Ponder One
The latest episode of Hashing It Out dives into one of Web3’s most persistent challenges: usability. Host Elisha Owusu Akyaw speaks with Moe El-Shibib and Selim Sezgin, co-founders of Ponder One, about the hurdles preventing mainstream adoption and the technologies that could make blockchain interactions seamless for everyday users.The UX RoadblockWeb3 continues to grow, but usability remains a major barrier. Many users struggle with onboarding, navigating DeFi platforms and managing assets across multiple chains. In the interview, Sezgin highlights that technical innovation has outpaced user experience, making blockchain interactions complex for newcomers.“While technical innovation has been a driving force, usability and accessibility remain pain points… Our whole goal is to simplify Web3 and make it as usable as possible.”To address this, the discussion explores AI-driven solutions that simplify blockchain transactions. AI can automate swaps, bridging and decision-making, reducing the need for technical knowledge. Related: Web3 businesses can outsmart crypto scams before they strike — Here’s howCrosschain functionality is also a key focus, ensuring users can interact seamlessly across blockchains without manually switching networks.Decentralization vs usability in governanceDecentralized governance also plays a significant role in shaping Web3 applications. The Ponder One team emphasizes the importance of community-driven decisions, allowing users to vote on integrations and protocol developments. However, governance structures must balance decentralization with efficiency to remain effective.Looking ahead, the industry is moving toward real-world assets (RWAs), AI-driven applications and enhanced accessibility to DeFi. As innovation progresses, broader adoption will hinge on simplifying blockchain technology for users.This episode touches on key insights into Web3’s current challenges and future developments, highlighting the need for a simplified and more accessible blockchain ecosystem.Listen to the full episode of Hashing It Out on Cointelegraph’s podcast page, Spotify, Apple Podcasts or your podcast platform of choice. And don’t forget to check out Cointelegraph’s full lineup of other shows.Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why
USDC, USDt stablecoins are ‘store of value’ in Latin America — Bitso
Stablecoin adoption in Latin America is increasing as more users turn to Circle’s USDC and Tether’s USDT for financial stability, according to a new report from cryptocurrency exchange Bitso.The USDC (USDC) and USDt (USDT) stablecoins have become a “store of value” in Latin America, accounting for 39% of total purchases on Bitso in 2024, the firm said in its third edition of the Latin America Crypto Landscape report issued on March 12.The report highlighted a significant increase in stablecoin adoption on the platform, with total stablecoin purchases surging 9% from 2023.“In Latin America, challenging macroeconomic conditions, characterized by high inflation and currency devaluations, drove increased cryptocurrency adoption — particularly stablecoins — as a reliable store of value,” Bitso stated in the report.USDC leads the race, Bitcoin followsWhile stablecoin purchases surged, Bitcoin (BTC) saw a notable decline in trading volume on Bitso in 2024, with its share dropping to 22% from 38% in the second half of 2023.According to Bitso, the decline in BTC purchases in Latin America indicates the growing trend of the hodl strategy, which implies buying and holding the cryptocurrency to profit from its long-term value appreciation.The drop in BTC purchases aligned with the bull market of 2024, with Bitcoin rallying past $100,000 for the first time in history in December.Top 10 purchased crypto assets on Bitso by share in 2024. Source: BitsoAs Bitso users held off on Bitcoin purchases in 2024, buying activity switched to stablecoins like USDC and USDT, with the former leading the race at 24%.Related: Brazil fintech unicorn Meliuz adopts Bitcoin treasury strategyUSDT purchases accounted for 15% of total cryptocurrencies acquired on Bitso in 2024.Argentina is the top USDt market with a 50% shareA more detailed analysis of geographical preferences among Latin American countries showed a massive trend for USDT use in Argentina, which is known for its high stablecoin adoption due to inflation rates surpassing 100%.According to the report, Bitso users in Argentina mostly favored purchases of USDT and USDC in 2024, accounting for 50% and 22% of all crypto purchases in the country, respectively.Top 10 purchased crypto assets on Bitso in Argentina, Brazil, Colombia and Mexico. Source: BitsoOn the other hand, the share of Bitcoin purchases in Argentina accounted for just 8% of crypto purchases last year on Bitso, the lowest share among other analyzed countries.Brazilian and Mexican Bitso users still continued to favor Bitcoin as the most purchased crypto asset last year, with the BTC buying percentages accounting for 22% and 25%, respectively.Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why
Turkey tightens crypto regulations with new rules for exchanges, investors
Turkey is taking a major step forward in regulating the cryptocurrency industry with the introduction of new rules for crypto asset service providers (CASPs). These regulations, published by the Capital Markets Board (CMB) of Türkiye on March 13, aim to ensure compliance with national and international standards for CASPs, including crypto exchanges, custodians, and wallet service providers.
The framework, which can be found on the CMB’s website, gives the board full oversight of crypto platforms and sets standards and requirements for establishing and providing crypto asset services in Turkey. This includes criteria such as establishment capital, executive history, and shareholder rules.
These stricter requirements for CASPs may pose challenges for them to adapt to the new regulatory environment. They will also be required to invest in compliance infrastructure and adhere to stringent reporting requirements, providing the CMB with timely and accurate information about their operations.
The new regulations align with global standards and follow regulatory approaches set by Europe’s Markets in Crypto-Assets Regulation (MiCA) and the US Securities and Exchange Commission. They also address potential stablecoin restrictions and the decentralized finance (DeFi) market in Turkey.
These developments come as no surprise, as countries around the world are increasingly recognizing the need for clear and comprehensive regulations for the cryptocurrency industry. This is a positive step towards mainstream adoption and legitimacy for cryptocurrencies.
However, these regulations may also have an impact on Turkish investors, as they introduce stricter trading requirements and potential restrictions on stablecoins. It is important for investors to stay informed and comply with these regulations to avoid any potential legal issues.
This is a developing story, and further information will be added as it becomes available. In the meantime, readers can also check out our magazine article on how crypto laws are changing across the world in 2025 for a deeper understanding of the evolving regulatory landscape.
As the cryptocurrency industry continues to grow and evolve, it is crucial for regulators to keep up with the pace and ensure a safe and transparent environment for all stakeholders. These new regulations in Turkey are a step in the right direction and will likely serve as a model for other countries looking to regulate the industry.