Donald J. Trump alleged on Truth Social that several major U.S. banks are threatening and undermining the GENIUS Act, which he described as America's first major move toward becoming the "Crypto Capital of the World." He claimed these banks, despite reporting record profits, are also holding the Clarity Act "hostage," referring to the pending digital asset market structure bill. In the same post, Trump called for rapid passage of the Clarity Act to provide regulatory clarity for digital assets, help Americans "earn more money on their money," and reduce the risk of the crypto industry shifting to China and other jurisdictions.

The Korean stock market triggered a circuit breaker and suspended trading after falling 8%, Lookonchain data show. On-chain data show trader 0x629A, who held a heavy long position in the Korean stock market, has shifted from profit to loss and currently holds 47,849 EWY contracts valued at about $6.04 million, with a liquidation price of $115.07.

South Korea's KOSPI index fell 8% today, marking one of its sharpest single-day declines since August 2024. The drop occurred amid the ongoing U.S.–Iran conflict, pulling the broader South Korean stock market sharply lower.

South Korea's stock market was suspended after falling 8%, triggering a circuit breaker. Trader 0x629A, who held a heavily long position on the Korea stock market, has seen his trade swing from gains to losses. His position consists of 47,849 cash:EWY worth $6.04M, set to be liquidated at $115.07.

Bitwise's Matt Hougan said last weekend's Iran attack demonstrated digital assets have become a go-to market in global crises and called the shift to onchain finance inevitable. House Financial Services Committee Chair French Hill urged the Senate to adopt the House-passed Clarity Act language on the stablecoin yield dispute, while Indiana Governor signed HB 1042 to protect Bitcoin rights, bar discriminatory crypto taxation and permit digital assets in state retirement plans. CFTC Chair Michael Selig backed President Trump's call to advance the Clarity Act as key to a futureproof digital asset market structure, and Trump separately accused banks of undermining the GENIUS and CLARITY Acts while pledging to secure U.S. crypto leadership. The European Central Bank warned rising stablecoin usage could pull deposits from banks, curb lending and weaken monetary policy transmission in the euro area, while Ripple broadened Ripple Payments to let businesses collect, hold, swap and pay out in fiat and stablecoins, and Visa expanded its partnership with Stripe-backed Bridge to launch stablecoin-linked cards in more than 100 countries by year-end.

Iraq has shut down operations at Rumaila, the world's second-largest oil field, following the closure of the Strait of Hormuz. The halt follows the disruption of traffic through the key maritime chokepoint.

Trading on the South Korean stock market was suspended after an 8% decline triggered the circuit breaker mechanism. The automatic halt was activated in response to the sharp market drop.

Layer2, SocialFi and RWA segments posted gains of 1.35%, 1.57% and 0.12% respectively over the past 24 hours on March 4, while broader crypto markets declined, SoSoValue data show. Mantle (MNT) climbed 3.42% in Layer2, Chiliz (CHZ) advanced 5.69% in SocialFi, and Sky (SKY) added 1.42% in RWA, even as Bitcoin (BTC) slipped 0.93% to below $69,000 and Ethereum (ETH) lost 2.41% to under $2,000. GameFi dropped 12.34% despite Four (FORM) jumping 20.40%, while other sectors were mostly weaker with CeFi down 0.58%, Layer1 down 0.78%, DeFi down 1.42%, Meme down 3.36% and AI down 3.49%. Historical performance indices ssiLayer2, ssiSocialFi and ssiRWA rose 1.93%, 1.68% and 1.34% respectively, according to SoSoValue.

MARA Holdings has no plans to sell most of its Bitcoin reserves and has rejected earlier claims of intending to liquidate all holdings, ChainCatcher reports, citing a clarification by Robert Samuels, Vice President of Investor Relations. The company said it broadened its financial strategy to allow more flexible buying and selling of Bitcoin based on market conditions and capital priorities, rather than targeting full reserve liquidation. MARA currently holds 53,822 Bitcoin worth about $4.7 billion, making it the largest publicly traded Bitcoin mining company.