Ethereum layer 2 Starknet is laying the groundwork to settle on Bitcoin and Ethereum to unify the two largest blockchains on a single layer.

The Starknet Foundation said in its March 11 Bitcoin roadmap that it’s aiming for Starknet to become Bitcoin’s execution layer, scaling it from 13 transactions per second to thousands, reducing blocks and gas fees, and creating a better user experience.

“Most Bitcoin today sits static in wallets and exchanges, constrained by the limitations of the network’s original design: a lack of scalability and an inability to natively support applications beyond simple buying, selling, and transferring,” the foundation said.

It added that while some investors view Bitcoin (BTC) as “digital gold,” it believes “there is a demand for utilizing Bitcoin for purposes beyond that.”

Source: Starknet

Previously, StarkWare CEO Eli Ben Sasson, the company behind the STARK proof that contributes to the development of Starknet, said OP_CAT, a Satoshi-era opcode for unlocking programmability on Bitcoin that was disabled over security concerns, would allow Starknet to settle on the Bitcoin blockchain. 

If successful, Starknet said the move would allow developers to build applications on the Bitcoin network through smart contracts and enable applications such as staking, borrowing, lending, leveraged trading and yield farming.

As part of the announcement, StarkWare said it has joined the growing number of firms in creating a Bitcoin reserve, holding a growing portion of its treasury in crypto.

Source: Ameen Soleimani

Starknet will also team up with Bitcoin Web3 wallet Xverse, whose founder and CEO Ken Liao said the integration, slated for the second quarter of 2025, will achieve Bitcoin’s “DeFi take-off moment.”

Xverse said wallets need to be more than just storage solutions; and allow easy access to Bitcoin’s growing utility. Liao said in a statement that the endgame is trustless DeFi on Bitcoin.

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“In today’s environment, there is a temptation for wallet teams to say, ‘yeah, let’s just focus on making it easier for people to use Bitcoin as a store of value,’” Liao said.

“But the long-term future of Bitcoin also includes utility, and that’s why layer 2 solutions must reach the public via the wallets they actually use,” he added.

Meanwhile, in a March 11 X space discussing Starknet’s plan, Ethereum co-founder Vitalik Buterin said a proper Bitcoin L2 that can satisfy the needed security properties would “make crypto payments great again, and all those use cases can work.”

Starknet on Bitcoin and Ethereum https://t.co/tCyQDHY7Yr

— StarkWare 🐺🐱 (@StarkWareLtd) March 11, 2025

Buterin said there is a “lot of value” in enabling the trustless flow of assets between the Bitcoin and Ethereum ecosystems, such as easier paths for decentralized exchange.

“If you go back to the white paper, Bitcoin was meant to be a peer-to-peer electronic cash system, and obviously, layer 1 is not nearly scalable enough for that,” Buterin said.

“I think we’ve also seen some of the limits of the Lightning Network and that kind of approach.“

Magazine: MegaETH launch could save Ethereum… but at what cost?

US Senator Cynthia Lummis’ newly reintroduced BITCOIN Act will allow the government to potentially hold more than 1 million Bitcoin as part of its newly established reserve.

The bill, first introduced in July, directs the US government to buy 200,000 Bitcoin (BTC) a year over five years for a total acquisition of 1 million Bitcoin, which would be paid for by diversifying existing funds within the Federal Reserve system and the Treasury department. 

However, the reintroduced act, the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2025, opens the door for the US to acquire and hold in excess of 1 million BTC as long as it is acquired through lawful means other than direct purchase, such as civil or criminal forfeitures, gifts made to the US or transfers from federal agencies.

Proud to re-introduce the BITCOIN Act. Let’s secure America’s financial future.pic.twitter.com/jJFmMopP7h

— Senator Cynthia Lummis (@SenLummis) March 11, 2025

The extra Bitcoin can also come from US states that voluntarily store their Bitcoin holdings in the strategic Bitcoin reserve, though it’ll be stored in a segregated account. 

“By transforming the president’s visionary executive action into enduring law, we can ensure that our nation will harness the full potential of digital innovation to address our national debt while maintaining our competitive edge in the global economy,” said Lummis, who announced the revamped bill during a March 11 conference hosted by The Bitcoin Policy Institute. 

Lummis taps new bill co-sponsors

The BITCOIN Act also has a number of new co-sponsors, including Republican Senators Jim Justice, Tommy Tuberville, Roger Marshall, Marsha Blackburn and Bernie Moreno. 

“I’m proud to join Senator Lummis on this common-sense bill to create a strategic Bitcoin reserve and codify President Trump’s executive order,” Justice said in a statement. 

“This bill represents America’s continued leadership in financial innovation, bolsters both our economic security, and gives us an opportunity to wrangle in our soaring national debt,” he added. 

Other changes

The bill also now sets a formal evaluation process for Bitcoin forked assets and airdropped assets in the reserve. 

Initially, the bill required all forked assets to be stored in the reserve and couldn’t be sold or disposed of for five years unless authorized by law. 

Related: Texas Senate passes Bitcoin reserve bill, New York targets memecoin rug pulls: Law Decoded

The new bill now directs the Secretary after the mandatory holding period to evaluate and retain the most valuable asset based on market capitalization while retaining the “dominant asset.” 

Bitcoin has hard forked a number of times in the past to create new cryptocurrencies, most notably Bitcoin Cash (BCH), which forked on Aug. 1, 2017, and Bitcoin Gold (BTG), which forked on Oct. 24, 2017. 

Lummis’ reintroduced bill comes just days after US President Donald Trump signed an executive order to create a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.”

The reserve and stockpile will initially use cryptocurrency forfeited in government criminal and civil cases, but the reserve won’t sell the stashed Bitcoin and will use “budget-neutral” ways to increase its size, while tokens from the stockpile could be sold.

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Update (March 11 at 9:59 pm UTC): This article has been updated to include a response from the SEC.

Ian Balina, the CEO of Token Metrics and a YouTuber with more than 100,000 subscribers, said the US Securities and Exchange Commission will stop pursuing him in court over allegations he violated securities laws by promoting Sparkster (SPRK) tokens in 2018.

Speaking to Cointelegraph on March 11, Balina said the SEC had informed him it planned to recommend the court dismiss a case filed in 2022 alleging “unregistered offering and promotion in 2018 of crypto asset securities called SPRK Tokens.”

According to the crypto YouTuber, the SEC’s actions were based on the change in the administration’s priorities — referring to US President Donald Trump appointing acting SEC Chair Mark Uyeda after the departure of Gary Gensler in January.

“Obviously, the new administration is pro-crypto,” said Balina, claiming that the “time has ended” for crypto regulation through enforcement.

Balina speaking about Sparkster on YouTube in 2018. Source: Ian Balina

The SEC complaint against Balina, filed in September 2022, alleged the YouTuber agreed to receive a 30% bonus from Sparkster on the $5 million worth of tokens he purchased in the initial coin offering (ICO) — but did not disclose this information to his social media followers. In one of the last significant court rulings, a judge said in May 2024 that “SPRK tokens qualify as securities” under the SEC’s purview.

At the time of the 2024 decision, Balina’s legal team said it planned to appeal. The judge initially set a January 2025 jury trial date but approved a July 2024 motion for a continuance and agreed to schedule the proceedings at a later date. At the time of publication, no filing appeared on the docket in the US District Court for the Western District of Texas requesting to dismiss the case. In response to an inquiry from Cointelegraph, the SEC declined to comment on the case.

“It definitely was not cheap, cost a lot of money in terms of legal fees, which definitely sucks,” said Balina. “Makes me wish the SEC hadn’t put priority on all this.”

About-face from SEC on crypto enforcement after Gensler’s departure

If confirmed by the SEC, petitioning to drop Balina’s case would be the commission’s latest action favoring crypto companies facing similar lawsuits. Since Trump took office on Jan. 20, the regulator announced it would stop pursuing investigations into Robinhood Crypto, Gemini, Uniswap and OpenSea and dropped cases against Coinbase, Consensys, Kraken and others.

The commission still has an open case against Ripple Labs, facing an appeal and cross-appeal following a $125 judgment in August 2024.

Related: SEC looking to abandon effort requiring crypto firms to register as exchanges

Many critics have suggested that the crypto industry purchased influence with the Trump administration by supporting the Republican candidate in the 2024 election or contributing to his inauguration fund after his November victory.

The US president hosted a crypto summit at the White House on March 7, attended by many industry leaders who directly or indirectly supported “pro-crypto” candidates in the last election cycle, including representatives of Robinhood, Gemini, Coinbase and Kraken.

Magazine: SEC’s U-turn on crypto leaves key questions unanswered

Securities exchange Cboe BZX is seeking permission from US regulators to incorporate staking into Fidelity’s Ether exchange-traded fund (ETF), according to a March 11 filing. 

The filing marks Cboe’s latest attempt to support staking for the Ether (ETH) funds traded on its US exchange. 

Cboe’s proposed rule change would allow Fidelity Ethereum Fund (FETH) to “stake, or cause to be staked, all or a portion of the Trust’s ether through one or more trusted staking providers,” the filing said.

The Fidelity Ethereum Fund is among the most popular Ether ETFs, with nearly $1 billion in assets under management, according to data from VettaFi. 

In February, Cboe asked permission to add staking to another Ether ETF, the 21Shares Core Ethereum ETF.

Staking Ether enhances returns and involves posting ETH as collateral with a validator in exchange for rewards.

As of March 11, staking Ether yields approximately 3.3% APR, denominated in ETH, according to Staking Rewards.

Other popular cryptocurrencies, including Solana (SOL), also feature staking mechanisms. 

Staking rewards by asset type. Source: Staking Rewards

Related: SEC seeks comment on in-kind redemptions for Bitcoin, Ether ETFs

Proposed rule changes

The US Securities and Exchange Commission must still approve Cboe’s proposed rule changes before staking can commence.

In February, the SEC acknowledged more than a dozen exchange filings related to cryptocurrency ETFs, according to records.

The SEC’s acknowledgments highlight how the agency has softened its stance on crypto since US President Donald Trump started his second term on Jan. 20. 

In addition to staking, the filings, submitted by Cboe and other exchanges, addressed proposed rule changes concerning options, in-kind redemptions and new types of altcoin funds.

Cboe has also asked permission to list Canary and WisdomTree’s proposed XRP (XRP) ETFs and support in-kind creations and redemptions for Fidelity’s Bitcoin (BTC) and ETH ETFs, among other proposed changes.

Magazine: MegaETH launch could save Ethereum… but at what cost?

A member of the Texas legislature has proposed a bill that could limit the amount local and state authorities invest in cryptocurrency as a reserve asset.

In a bill filed on March 10, Texas Representative Ron Reynolds proposed the state’s comptroller not be allowed to invest more than $250 million of its Economic Stabilization Fund — otherwise known as a “rainy day” fund — in Bitcoin (BTC) or other cryptocurrencies. The legislation also suggested that Texas municipalities or counties could not invest more than $10 million in crypto.

HB 4258, filed by Texas Representative Ron Reynolds. Source: Texas legislature

The proposed bill followed the Texas Senate passing legislation on March 6 to establish a strategic Bitcoin reserve in the state. The SB 21 bill seemingly could allow the Texas comptroller to have no limit on purchasing BTC for a reserve, based on the most recent draft. 

Related: Bitcoin reserve backlash signals unrealistic industry expectations

The plan for a strategic Bitcoin reserve in Texas was one of many separate bills proposed in US state governments following the inauguration of President Donald Trump and Republican lawmakers winning control of the US House of Representatives and Senate. Texas Lieutenant Governor Dan Patrick said in January that the state’s legislative priorities for 2025 would include a proposal to establish a Texas Bitcoin Reserve.

Is there a partisan divide on state and federal crypto plans?

It’s unclear if Rep. Reynolds, a Democrat, intended to support the BTC reserve bill introduced by State Senator Charles Schwertner, a Republican, or propose restrictions in the event the legislation becomes law. If passed and signed by Governor Greg Abbott, the bill would take effect on Sept. 1. Cointelegraph reached out to Rep. Reynolds’ office for comment but did not receive a response at the time of publication. 

Though Trump signed an executive order on March 7 to create a federal “Strategic Bitcoin Reserve” and “Digital Asset Stockpile,” many legal experts have questioned the US president’s authority to enact specific policies through EOs. Wyoming Senator Cynthia Lummis reintroduced legislation on March 11 to codify the proposed BTC reserve into law in the Senate.

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A member of the Texas legislature has proposed a bill that could limit the amount local and state authorities invest in cryptocurrency as a reserve asset.

In a bill filed on March 10, Texas Representative Ron Reynolds proposed the state’s comptroller not be allowed to invest more than $250 million of its Economic Stabilization Fund — otherwise known as a “rainy day” fund — in Bitcoin (BTC) or other cryptocurrencies. The legislation also suggested that Texas municipalities or counties could not invest more than $10 million in crypto.

HB 4258, filed by Texas Representative Ron Reynolds. Source: Texas legislature

The proposed bill followed the Texas Senate passing legislation on March 6 to establish a strategic Bitcoin reserve in the state. The SB 21 bill seemingly could allow the Texas comptroller to have no limit on purchasing BTC for a reserve, based on the most recent draft. 

Related: Bitcoin reserve backlash signals unrealistic industry expectations

The plan for a strategic Bitcoin reserve in Texas was one of many separate bills proposed in US state governments following the inauguration of President Donald Trump and Republican lawmakers winning control of the US House of Representatives and Senate. Texas Lieutenant Governor Dan Patrick said in January that the state’s legislative priorities for 2025 would include a proposal to establish a Texas Bitcoin Reserve.

Is there a partisan divide on state and federal crypto plans?

It’s unclear if Rep. Reynolds, a Democrat, intended to support the BTC reserve bill introduced by State Senator Charles Schwertner, a Republican, or propose restrictions in the event the legislation becomes law. If passed and signed by Governor Greg Abbott, the bill would take effect on Sept. 1. Cointelegraph reached out to Rep. Reynolds’ office for comment but did not receive a response at the time of publication. 

Though Trump signed an executive order on March 7 to create a federal “Strategic Bitcoin Reserve” and “Digital Asset Stockpile,” many legal experts have questioned the US president’s authority to enact specific policies through EOs. Wyoming Senator Cynthia Lummis reintroduced legislation on March 11 to codify the proposed BTC reserve into law in the Senate.

Magazine: Elon Musk’s plan to run government on blockchain faces uphill battle

Bitwise has launched an exchange-traded fund (ETF) holding stocks of companies with large Bitcoin (BTC) treasuries, the asset manager said on March 11. 

The Bitwise Bitcoin Standard Corporations ETF (OWNB) “seeks to track the Bitwise Bitcoin Standard Corporations Index, a new equity index of companies with at least 1,000 bitcoin in their corporate treasuries,” Bitwise said. 

The ETF is the latest in a flurry of new investment products aimed at offering exposure to companies with large Bitcoin treasuries.

“A lot of people wonder: Why do companies buy and hold bitcoin? The answer is simple: For the exact same reasons people do,” Matt Hougan, Bitwise’s chief investment officer, said in a statement.

“These companies perceive bitcoin as a strategic reserve asset that’s liquid and scarce — and not subject to the whims or money printing of any government.”

Public companies are among the largest institutional Bitcoin holders. Source: BitcoinTreasuries.NET

Related: Trump-linked Strive files for ‘Bitcoin Bond’ ETF

Index of Bitcoin buyers

As of March 11, the ETF’s largest holdings include Strategy (MSTR), Michael Saylor’s de facto Bitcoin fund, and Bitcoin miners such as MARA Holdings (MARA), CleanSpark (CLSK), and Riot Platforms (RIOT).

It also includes stocks such as gaming company Boyaa Interactive and investment manager Galaxy Digital (GLXY). 

Bitwise’s index is weighted based on the amount of Bitcoin held, with the largest holding capped at 20%, the asset manager said. 

OWNB’s largest holdings. Source: BItwise

Bitcoin treasuries take off

In 2024, rising Bitcoin prices sent shares of Strategy soaring more than 350%, according to data from FinanceCharts. The move prompted dozens of other companies to start accumulating Bitcoin treasuries. According to BitcoinTreasuries.NET, corporate Bitcoin holdings exceed $54 billion as of March 11. 

Strategy remains the largest corporate Bitcoin holder, with a treasury worth more than $41 billion, the data shows. 

Even the US government has created a strategic Bitcoin reserve, initially comprising only Bitcoin seized by law enforcement.

Other asset managers are launching similar investment products to Bitwise’s. In December, asset manager Strive, founded by former US presidential hopeful Vivek Ramaswamy, asked United States regulators for permission to list an ETF investing in convertible bonds issued by Strategy and other corporate Bitcoin buyers. 

The ETF seeks to offer exposure to “Bitcoin Bonds,” described as “convertible securities” issued by companies that plan to “invest all or a significant portion of the proceeds to purchase Bitcoin,” according to the filing. 

Asset manager REX Shares is also preparing to launch a Bitcoin corporate treasury ETF, it said on March 10.

Magazine: Meet lawyer Max Burwick — ‘The ambulance chaser of crypto’

Bitcoin (BTC) dropped to a four-month low of $76,700 on March 11, following a 6% weekly decline in the S&P 500 index.

The stock market correction pushed the index to its lowest level in six months as investors priced in higher odds of a global economic downturn.

Despite Bitcoin’s 30% drop from its all-time high of $109,350, four key indicators suggest that the correction may be over.

Bitcoin bear market needs 40% drop, strong USD

Some analysts argue that Bitcoin has entered a bear market. However, the current price action differs significantly from the November 2021 crash, which started with a 41% drop from $69,000 to $40,560 in just 60 days.

A comparable scenario today would imply a decline to $64,400 by the end of March.

Bitcoin/USD in Nov. 2021 vs. Feb. 2025. Source: TradingView / Cointelegraph

The current correction mirrors the 31.5% drop from $71,940 on June 7, 2024, to $49,220 over 60 days.

Additionally, during the late 2021 bear market, the US dollar was strengthening against a basket of foreign currencies, as reflected in the DXY index, which surged from 92.4 in September 2021 to 96.0 by December 2021.

DXY (left, blue) vs. BTC/USD (right). Nov. 2021 vs. Feb. 2025. Source: TradingView / Cointelegraph

This time, however, the DXY started 2025 at 109.2 and has since declined to 104. Traders argue that Bitcoin maintains an inverse correlation with the DXY index, as it is primarily viewed as a risk-on asset rather than a safe-haven hedge against dollar weakness.

Overall, current market conditions show no signs of investors moving to cash positions, which supports Bitcoin’s price.

BTC derivatives healthy as investors fear AI bubble

The Bitcoin derivatives market remains stable, as the current annualized premium on futures stands at 4.5%, despite a 19% price drop between March 2 and 11.

For comparison, on June 18, 2022, this indicator fell below 0% after a sharp 44% decline from $31,350 to $17,585 in just 12 days.

Bitcoin 2-month futures annualized premium. Source: laevitas.ch

Similarly, the Bitcoin perpetual futures funding rate is hovering near zero, signaling balanced leverage demand between longs and shorts. Bearish market conditions typically drive excessive demand for short positions, pushing the funding rate below zero.

Several publicly traded companies with market values exceeding $150 billion have seen sharp declines from their all-time highs, including Tesla (-54%), Palantir (-40%), Nvidia (-34%), Blackstone (-32%), Broadcom (-29%), TSM (-26%), and ServiceNow (-25%). Investor sentiment, especially in the artificial intelligence sector, has turned bearish amid growing recession fears.

Related: Bitcoin $70K retracement part of ‘macro correction’ in bull market — Analysts

Traders are concerned about a potential US government shutdown on March 15, as lawmakers must pass a bill to raise the debt ceiling. However, according to Yahoo Finance, the Republican party remains divided.

The key points of contention in House Speaker Mike Johnson’s proposal are increased spending on defense and immigration.

Risk-on markets, including Bitcoin, are likely to react positively if an agreement is reached.

Real estate crisis is not necessarily negative

Early signs of a real estate crisis could accelerate capital outflows into other scarce assets. According to Feb. 27 data from the US National Association of Realtors, home contract signings fell to an all-time low in January.

Additionally, a Feb. 23 opinion piece in The Wall Street Journal revealed that over 7% of Federal Housing Administration-insured loans are at least 90 days past due, surpassing the peak of the 2008 subprime crisis.

In essence, Bitcoin’s path to reclaiming $90,000 is supported by a weaker US dollar, historical evidence that a 30% price correction does not signal a bear market, resilience in BTC derivatives markets, contagion from government shutdown risks, and early signs of a real estate crisis.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

CoreWeave announced on March 11 that it had struck a five-year deal worth up to $11.9 billion with OpenAI, the nonprofit research and development company that created ChatGPT. Through the deal, OpenAI will become an investor in CoreWeave through the issuance of $350 million of stock, while CoreWeave will deliver AI infrastructure.

The deal comes ahead of the anticipated CoreWeave initial public offering (IPO). According to its offering filing, the company, founded in 2017 in Livingston, New Jersey, reported $1.9 billion in revenue with a net loss of $863 million in 2024. CoreWeave provides cloud-based GPU infrastructure to AI developers.

The new deal may provide a boost to CoreWeave, as roughly two-thirds of the company’s revenue came from Microsoft, which had planned to spend $10 billion on CoreWeave by 2030. According to a report from the Financial Times, Microsoft has canceled some contracts with the AI company due to missed deadlines, though CoreWeave has denied this.

Related: Core Scientific to host more CoreWeave infrastructure, targets $8.7B revenue

CoreWeave’s main competitors are Amazon, Oracle and Google, along with smaller clients DataCrunch, Lambda and Foundry.

Cloud AI market expected to grow by 30.9% CAGR until 2030

The cloud artificial intelligence market is expected to grow significantly in the coming years, according to Fortune Business Intelligence. In 2022, the size of the market was estimated to be $46.7 billion. By 2030, it is expected to be $398 billion. The compound annual growth rate during that time period is estimated to be 30.9%.

Cloud AI involves a combination of cloud computing and artificial intelligence services that businesses can use to theoretically increase their revenue. Some of the aspects of a business that these services touch on include scalability, predictive analytics and cost savings by not having to build their own AI model.

Related: Saudi Arabia partners with tech giants in $14.9B AI expansion

There are budding integrations with Cloud AI and blockchain as well. As Cointelegraph reported, one of the challenges with integrating AI and blockchain is scalability and processing power, which cloud computing platforms aim to help solve. These integrations may impact Web3 gaming as well.

But, while the fusion of these technologies is promising, there are roadblocks, including the centralization within the cloud computing industry.

Magazine: Creating ‘good’ AGI that won’t kill us all — Crypto’s Artificial Superintelligence Alliance

Cryptocurrency exchange Coinbase is one step closer to relaunching its services in India after securing a license with the country’s Financial Intelligence Unit (FIU). 

On March 11, the crypto exchange revealed on social media that “we’re approved to launch in India,” which prompted a follow-up from Coinbase’s chief legal officer, Paul Grewal.

“Coinbase is now FIU-registered,” said Grewal. “It’s a major step towards empowering Indian entrepreneurs to build, innovate and scale global onchain businesses — all from home.”

A Coinbase blog post confirmed that the exchange plans to offer cryptocurrency trading services in the country but did not specify a timeline for service rollout. 

In addition to crypto traders, India’s developer community could benefit from the availability of Coinbase and its related tools, including its Base network, according to the company’s APAC regional managing director, John O’Loghlen.

Cointelegraph contacted Coinbase for more information about its India launch plans but did not receive an immediate response.

Coinbase’s first foray into India in 2022 lasted mere days after it ran into issues with the country’s central bank. Coinbase said at the time that it was “committed to working with […] relevant authorities to ensure that we are aligned, with local expectations and industry norms.”

Related: India may change crypto policy due to international adoption: report

India pivots on crypto

India has had a complicated history with cryptocurrency, with the FIU banning several crypto exchanges over the years. 

Legal expert Amit Kumar Gupta told Cointelegraph that many lawmakers view the industry negatively, associating it with gambling and illegal activities. This partly explains why some elements of the Indian government want to purge the sector by implementing harsh tax laws.

Nevertheless, the tides appear to be shifting as global crypto adoption heats up, which has prompted fears that India will be left behind. 

In February, Reuters cited India’s economic affairs secretary Ajay Seth as saying that cryptocurrencies “don’t believe in borders,” suggesting that the country needs to get ahead of the adoption curve.

In terms of crypto adoption, India receives the highest grades among CSAO countries. Source: Chainalysis

Despite the controversy, India has emerged as the leading country in terms of crypto adoption within the Central, Southern Asia and Oceana (CSAO) region, according to a 2024 report by Chainalysis. India received especially high marks for retail and decentralized finance adoption, the report said.

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