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On March 13, the Tenth Circuit Court of Appeals refused to reconsider Custodia Bank's challenge to the Federal Reserve's denial of a master account. This decision further solidifies the central bank's authority over institutional access to its payment system.
The court rejected Custodia's petition for a rehearing, upholding a previous ruling in favor of the Federal Reserve and the Federal Reserve Bank of Kansas City.
Custodia initiated legal action in October 2020 after its application for a master account with the Kansas City Fed was denied. Master accounts allow banks to hold deposits directly with the Federal Reserve and access essential services like payment clearing and Fedwire transfers, without needing intermediary banks.
Custodia, a Wyoming-chartered entity, argued that federal law requires Reserve Banks to provide payment services to eligible depository institutions, asserting that a master account is essential for such access.
Two dissenting judges believed the case raised significant legal and constitutional questions. Judge Timothy Tymkovich questioned whether Congress had granted Federal Reserve Banks unlimited discretion to deny state-chartered banks' master account applications. He warned that without a master account, a bank cannot operate in the modern banking system, suggesting that unchecked denial power could give federal authorities an effective veto over state-chartered banks.
This ruling follows Kraken's banking arm, Payward Financial, securing a master account from the Federal Reserve Bank of Kansas City on March 4. This approval drew criticism from U.S. banking groups, who claimed the Fed acted prematurely. While Custodia sought access through the courts, Kraken obtained it via the Federal Reserve's supervisory process, highlighting different paths for integrating digital assets into traditional financial sys
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Meta is reportedly preparing for another significant workforce reduction in 2026, aiming to cut approximately 20% of its global staff. This move isn't just about cost-cutting; it’s a massive strategic shift from the "Metaverse-first" era to an "AI-first" ecosystem.Key Highlights:
The AI Bet: Meta is redirecting billions of dollars into AI infrastructure and "Superintelligence" projects.Efficiency vs. Automation: As AI Agents become more capable, traditional roles are being replaced by automated systems.Market Impact: Investors are watching closely to see if this lean approach will boost $META margins or hinder long-term innovation.What this means for Web3 & Crypto:As tech giants like Meta pivot toward AI, we are seeing a growing synergy between AI and Blockchain. Decentalized AI (DeFAI) projects and AI Agents are becoming the hottest sectors in the crypto market.What do you think? Is Meta’s aggressive shift into AI the right move, or is the human cost too high? 📉🤖#MetaPlansLayoffs #Meta #AI #TechNews #BinanceSquare #DeFAI #Web3 #MetaPlansLayoffs #news #BinanseSquaretalks #defai

Market Update
Crypto (from @CryptoBubbles)

Total Crypto Market Cap: $2.463T
QQQ (Nasdaq 100): $607.32
Gold: $5,167.80
Silver: $84.95
Oil (WTI): $86.12
US 10Y Treasury: 4.202%
Crypto Fear & Greed Index (from coinmarketcap(dot)com): 27
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)

Spotlight
Take note good degens! Balancer has deployed on Monad!
This has generated much excitement as both Balancer and Monad continue to gain mindshare within crypto’s nascent defi renaissance!
In addition, Balancer’s arrival has brought some EXQUISITE yield opportunities for LP’s on the purple chain!

Biggest TVL Movers + Other Interesting Data
Chains are mixed today. 17 of the top 25 chains are green on the weekly.
Protocols are mostly red today. 13 of our top 25 protocols are green on the weekly.
Here’s The Top 12 Fastest-Growing Chains By TVL On The Weekly With At Least $10M TVL (from @DefiLlama):

Here’s The Top 12 Fastest-Growing Protocols By TVL On The Weekly With At Least $10M TVL (from @DefiLlama):

Here’s The Top 12 Chains By 7 Day Stablecoin Inflow % (from @DefiLlama):

New Projects
-New project called @Lio_Technology. Twitter bio states “The world’s first multi-agent system for procurement”. Followed by 7 of our mutuals. h/t @0xvietnguyen and founder @askvladi:

-New project called @WDK_tether. Twitter bio states “WDK by Tether: open-source, self-custodial toolkit for building advanced mobile and desktop wallet experiences.” Followed by 5 of our mutuals. h/t @0xvietnguyen:

Top Stablecoin Yields

Important News And Analysis
-Hyperliquid adds portfolio margining, h/t @Tyler_Did_It:

-CPI came in exactly inline with expectations, h/t @zerohedge:

-Iran situation and its implications for oil prices are still dominant topic in macro, h/t @KobeissiLetter:

-Much focus on Meta’s acquisition of Moltbook, h/t this and other headlines from @0xSalazar:

-Lots of criticism of Fantasy Top on the TL, examples below c/o @walsxbt and @varrock:

-@xStocksFi points program generating excitement in airdrop circles, h/t @flb_xyz:

-Is Coinbase/$COIN a better way to bet on stablecoin adoption than Circle/$CRCL? h/t @JustDeauIt:

-Are prospects for the crypto VC world more positive than currently believed? h/t @ryanconnor:

#BTC #ETH #news #crypto #NewsAboutCrypto
$BTC $OGN $AVNT

Gulf states produce 40 percent of the world’s total desalinated water through more than 400 plants.
#BTCReclaims70k #news #WorldCoin.

In moments of political tension, information rarely arrives in a straight line. News tends to appear in fragments, sometimes contradictory, sometimes incomplete. That seems to be the case now as reports circulate about the condition of Mojtaba Khamenei, recently named Iran’s Supreme Leader.

According to several emerging claims, he may have been seriously wounded during recent airstrikes that reportedly targeted senior Iranian leadership figures. One widely shared report suggests the injuries were severe enough to place him in critical condition, possibly even a coma. Some accounts go further, claiming he lost one of his legs and is now receiving intensive medical care inside a highly secured facility in Tehran.

Yet the picture remains far from clear.

Iranian officials and other sources strongly reject the more dramatic versions of the story. They insist that while Mojtaba Khamenei may have been injured, he is alive and conscious. State media has even broadcast a message attributed to him, which has only added to the uncertainty rather than settling the debate.

Situations like this often unfold in a fog of limited information. Governments tighten control over communication during sensitive periods, and rumors begin to travel faster than verified facts. A single claim can quickly evolve into several competing versions of reality.

The backdrop makes the uncertainty even heavier. The region is already under strain following reports that his father, Ali Khamenei, was killed in a previous strike during the ongoing conflict. Leadership changes under such circumstances rarely happen quietly.

Beyond politics, events like these often ripple into financial markets. Traders who follow global headlines know how quickly geopolitical shocks can shift sentiment. Energy prices, currencies, and digital assets sometimes move sharply when uncertainty rises, even before the full story becomes clear.

But the risks are just as real as the reactions. Markets can swing on rumors that later prove inaccurate. For investors, the challenge is learning to separate noise from signal, a task that is never easy when the world itself feels unsettled.

For now, the situation remains uncertain. In times like these, patience often becomes the only reliable source of clarity.
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