Clocks Hit Zero: Crypto's Big Deadline Day

Welcome to our Crypto news in 10, a daily podcast bringing you the latest news about crypto in under 10 minutes.

It's Tuesday, March 31, 2026 — very much a deadline day in crypto. We've got CoinShares completing its Stockholm delisting as it pivots to a U.S. listing via SPAC... the FTX Recovery Trust beginning a $2.2 billion creditor distribution... Coinbase Commerce hitting its final sunset cutoff... Bit.com's wind-down reaching the last withdrawal window... and — if you work in compliance — the IRS electronic filing deadline for 1099-series forms, including the newer 1099-DA for digital assets. Let's get into it.

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First up — the big corporate move. CoinShares says its ordinary shares are delisting from Nasdaq Stockholm today, as it completes the final steps of its combination with Vine Hill Capital Investment Corp., under a scheme of arrangement.

Trading in Stockholm was suspended on March 23, after a final trading day on March 20. CoinShares' timetable flagged March 31 as the effective date for delisting — down to a morning cutoff.

On or around today, the company expects to complete the transaction and issue shares of Odysseus Holdings. First trading for Odysseus is targeted for around April 7 on a U.S. exchange.

CoinShares — which highlights over $6 billion in assets under management and a growing ETP lineup — frames this as a shift to U.S. capital markets access while it continues European operations. According to press materials and investor filings, today's delisting lines up with the SPAC closing milestones slated for today. Watch for that Odysseus ticker next week... Sources: CoinShares investor press releases and SPAC timetable filing.

Story two — liquidity arriving for long-waiting customers. The FTX Recovery Trust begins distributing $2.2 billion to creditors today, marking the fourth round of repayments since February 2025 and bringing cumulative distributions to roughly $10 billion.

The Trust set a February 14 record date, required KYC and tax documentation, and is using approved distribution agents to handle the flow.

While some recipients may simply cash out, others could recycle funds back into crypto markets... we'll see over the next few days whether on-chain flows capture any of that behavior. Reporting pegs March 31 as the start date for this tranche, with operational reminders echoed in creditor community updates. Sources: Cointelegraph reporting and creditor notices.

Number three — merchants, take note. Today is the final sunset date for Coinbase's legacy Commerce product.

Coinbase confirmed that an old Commerce withdrawal tool — recently flagged for prompting users to enter seed phrases — was tied to this legacy stack, which has been in wind-down since March 2025 and is formally discontinued as of March 31, 2026.

If you're a business still relying on the legacy Commerce flow, Coinbase says it removed the problematic page and is deprecating the product now — time to migrate to a current processor or to Coinbase's newer merchant options.

Key point: never type a wallet recovery phrase or seed phrase into a web form. That security issue is part of why this legacy page drew scrutiny. Source: Cointelegraph security and product deprecation coverage.

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Fourth — one more platform reaches its endpoint. Bit.com's shutdown plan concludes today.

The exchange, launched by Matrixport in 2020 to serve professional and institutional traders, ran a three-step wind-down that left spot trading live through January 31. Since February 1, users have accessed a backup station to withdraw funds, with the final date for requests landing today, March 31, 2026.

Communications around the wind-down warned customers to watch for phishing and impostors — no staff will ever ask for passwords or seed phrases — and emphasized that assets wouldn't be confiscated during the backup period.

If you still have balances there, today is the last call to contact support and get the withdrawal processed. Source: TheStreet and Yahoo Finance coverage summarizing Bit.com's timetable.

And rounding it out at number five — yes, it's tax admin day, too.

For brokers and platforms that must report digital asset transactions, the IRS electronic filing deadline is today, March 31, for the 1099 series — including the new 1099-DA used to report certain crypto dispositions.

Recipient copies for 1099-B and 1099-DA were due to customers back on February 17 this year, but bulk data to the IRS — when filed electronically — hits the March 31 cutoff.

If you're a retail trader wondering why your tax transcript might not yet reflect all the forms, one reason is that many filers transmit near today's deadline.

For firms, penalties apply for late or incorrect filings, so teams have been running final validations across wallet lot data, basis adjustments, and account-level cost tracking.

If you need chapter and verse, the IRS General Instructions for Certain Information Returns call out the March 31 e-file date, and the 1099-DA instructions detail how brokers must treat covered versus non-covered digital asset sales. Sources: IRS General Instructions and 1099-DA instructions.

Quick recap — on this Tuesday, March 31. CoinShares executes its Stockholm delisting as it crosses the finish line on its SPAC... FTX's $2.2 billion creditor distribution goes live... Coinbase's legacy Commerce finally sunsets... Bit.com closes its withdrawal window... and the IRS electronic 1099 filing deadline arrives for brokers — including those sending 1099-DA for crypto transactions.

A lot of clocks hit zero today... and the market will be watching to see whether that FTX money finds its way back on-chain, whether Odysseus debuts smoothly next week, and how merchants adapt post-Commerce. Stay tuned for ripple effects across April.

Thanks for listening and see you tommorow!