"Bitcoin Analyst Ditches Self-Custody for ETFs; Argentine President's Crypto Endorsement Backfires; Barclays Enters Crypto Market with $131M Investment; Binance, SEC Agree to 60-Day Legal Pause"

Bitcoin analyst PlanB has transitioned his Bitcoin holdings into spot Bitcoin exchange-traded funds (ETFs) for simpler management and enhanced security. This move signifies a departure from the typical self-custodial practice embraced by Bitcoin enthusiasts, citing ease of management and protection from potential threats like hackers as primary reasons for the change. This decision has sparked mixed reactions among his followers and broader implications for the perception and management of Bitcoin investments.

Meanwhile, Argentine President Javier Milei faced potential impeachment after promoting a crypto token, $LIBRA, which dramatically crashed shortly after his endorsement. Milei publicized the token on social media, causing its value to initially surge to nearly $5, only to plummet below $1 within hours. The incident led to accusations of a possible 'rug pull,' a scam where token creators abandon the project after profiting from investment surges. Milei has denied any affiliation with the crypto project and retracted his support upon learning more about the situation. Opposition lawmakers, led by Leandro Santoro, are pushing for impeachment citing international embarrassment caused by the scandal.

In other news, Pump.fun has launched a new mobile app that allows users to trade memecoins on the Solana blockchain. The app, available on iOS and Android, enables users to create coins at no cost, conduct fast transactions, and manage portfolios and watchlists. However, the app is not accessible to users in the UK.

Barclays has entered the crypto market with a $131 million investment in the iShares Bitcoin Trust (IBIT), a Bitcoin ETF managed by BlackRock. The UK bank's substantial purchase of 2,473,064 shares indicates a growing trend of institutional adoption of crypto-related investment products, aligning with similar moves by major banks like Goldman Sachs and JP Morgan.

A district judge in Washington D.C. has granted a 60-day stay in the legal dispute between Binance and the SEC, requesting a joint status report by April 14. The pause follows a joint filing by the parties, citing the need to align with the SEC's new crypto task force's regulatory framework initiatives. The task force, recently formed under new SEC Acting Chair Mark Uyeda and led by Commissioner Hester Peirce, focuses on classifying certain tokens as non-securities.

Tether might need to sell bitcoin, precious metals, and other non