Crypto News Today, 6th March : Pi Network News, Crypto Summit, Cardano Price Surge, Stock Market

Discord, the gaming-favored messaging app, is in confidential talks with bankers about preparations for an IPO, possibly as early as 2025, according to sources cited by the New York Times. The discussions remain exploratory and subject to change. If an IPO proceeds, it could impact major tech companies such as Slack, Microsoft, Alphabet, Snap, Meta Platforms, Tencent, and Sony.

Solana co-founder Toly recently shared his reserve order of preference in a tweet. He stated that the ideal scenario is having no reserve at all, arguing that putting the government in charge would undermine decentralization. Alternatively, he suggested that states could run their own reserves as a hedge against potential mistakes by the Fed. If a reserve is necessary, it should be based on objectively measurable criteria—criteria that, for now, only Bitcoin meets. Toly added that if a target is set, the Solana ecosystem is ready to meet the challenge.

A group of House Republicans, including @GOPMajorityWhip and @RepBryanSteil, hosted a “Crypto Power Lunch” this afternoon to discuss digital asset policy initiatives and upcoming legislation. The event brought together representatives from crypto trade organizations like @DigitalChamber and @BlockchainAssn, as well as key industry players from firms such as @paradigm, @a16z, @CoinFlip, @coinbase, @Anchorage, and @DCGcoz.

Bitcoin leads the crypto market, trading at $92,486, up 6.22%, driven by renewed regulatory optimism after Trump’s strategic reserve announcement. Ethereum at $2,314.16 and Solana at $150.07 also advanced, while XRP, Cardano, Dogecoin, and Shiba Inu displayed mixed results amid legal challenges and community momentum. The market is buoyed by institutional interest and government policy shifts, although caution remains due to persistent volatility.

The Trump family’s crypto project WLFI has invested a total of $336 million to acquire nine digital tokens, including ETH, WBTC, TRX, LINK, AAVE, ENA, MOVE, ONDO, and SEI. If the assets remain unsold, WLFI is facing a current floating loss of about $88 million. Notably, Ethereum represents the largest portion of this loss, amounting to approximately $67.35 million.

Russian Deputy Finance Minister Vladimir Kolychev stated that the Ministry of Finance has no plans to change the investment structure of the National Welfare Fund. He clarified that there have been no discussions about creating a strategic reserve of cryptocurrencies similar to the Trump administration’s plan. Kolychev emphasized that cryptocurrency assets, due to their high volatility, will not be added to the fund, which primarily holds CNY and gold.

SUI is on the verge of hitting double digits. Currently, it’s trading just below the weekly trendline support—a level it hasn’t fully breached, as only intraday dips have occurred. This behavior suggests a potential fakeout. Confidence remains high that by the time the weekly candle closes, SUI will reclaim its support, setting the stage for a swift V-shaped recovery and a push towards a new all-time high.

Cardano (ADA) appears set for a potential near-term rally, with analysts suggesting a massive 125% surge to multi-year highs above $2.0. This bullish outlook follows intense whale activity, with over 420 million ADA tokens acquired in just 24 hours. The rally was further boosted by former President Trump’s announcement of plans for a U.S. Strategic Crypto Reserve, which may include Cardano. Although ADA experienced a sharp 70% price jump before settling back near $0.94, it has broken its multi-week downtrend and is poised to retest December highs around $1.30. With technical indicators pointing to a potential move to $2.20, strong investor sentiment and strategic whale positioning could drive Cardano toward a robust recovery, even amid challenging macro conditions.