The cryptocurrency market experienced a sharp decline of 10% on Monday, with the price of Ethereum dropping to its lowest point since 2023. Strategy company reported that its unrealized losses on Bitcoin holdings reached $5.91 billion in the first quarter of 2025, primarily due to market declines caused by macroeconomic pressures. Crypto lawyer James A. Murphy has filed a lawsuit against the U.S. Department of Homeland Security seeking to reveal documents related to the identity of Bitcoin's founder. Former Binance CEO Changpeng Zhao has been appointed as a strategic advisor to the Pakistan Crypto Council to support the country's efforts in crypto education, infrastructure, and adoption. Blockchain startup Cap raised $8 million in a seed round led by Franklin Templeton.

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The following is adapted from The Block’s newsletter,The Daily, which comes out on weekday afternoons.It's Monday! The week started off with more of the crypto market in the red, with ether's price falling to lows not seen since 2023. It's not all looking bleak, though — we might be closer to finding out more information on Bitcoin's creator, and a high-profile crypto figure is guiding blockchain industry efforts abroad.In today's newsletter, $1.6 billion in leveraged bets evaporate as digital asset prices continue to fall, Michael Saylor's Strategy discloses around $6 billion in Q1 unrealized losses, a crypto attorney sues the Department of Homeland Security to find out more about Satoshi Nakamoto and more.Meanwhile, the stablecoin issuer Tether is deciding whether to launch a new stablecoin just for institutions.Let's get started.The crypto market experienced a sharp 10% drop on Monday, with ether falling to its lowest price point since 2023.Strategy reported $5.91 billion in unrealized losses on its bitcoin holdings in Q1 2025 due to a sharp market downturn driven by macroeconomic pressures.Crypto lawyer James A. Murphy filed a lawsuit against the U.S. Department of Homeland Security to seek documents that could reveal the identity of Bitcoin’s creator after his FOIA requests went unanswered.Former Binance CEO Changpeng 'CZ' Zhao has been appointed as a strategic advisor to the Pakistan Crypto Council to support crypto education, infrastructure and adoption efforts in the nation.Cap, a blockchain startup building a yield-generating stablecoin and lending platform, raised $8 million in a seed round led by Franklin Templeton.Never miss a beat withThe Block's daily digestof the most influential events happening across the digital asset ecosystem.

The cryptocurrency market has plummeted, as Strategy company reports massive unrealized losses, and a crypto lawyer's lawsuit reveals the identity of Satoshi Nakamoto.