Important information from last night and this morning (March 24-March 25)

Binance reported that an employee used his old position to make insider trading profits. The person involved has been suspended and will face legal prosecution

According to Binance's official announcement, an employee was found to have used the non-public information obtained from his previous business development position in BNB Chain to buy tokens in advance through an associated wallet before the project's public offering and partially cashed out for profit after the announcement, constituting a typical "front-running transaction". The employee has now been suspended, and Binance will cooperate with judicial authorities to pursue legal responsibility. The platform promised to issue a $100,000 reward to four users who reported through official channels.

Arbitrum DAO proposes to withdraw 225 million ARB game incentive plan, questioning mismanagement

According to The Block, Arbitrum DAO is considering whether to withdraw the remaining funds of the "Gaming Catalyst Program (GCP)" launched in 2024. The program originally allocated 225 million ARB (about 215 million US dollars at the time) to support the Web3 gaming ecosystem within three years. The proposal pointed out that the project was too optimistic when it was approved, and now there are problems such as lack of transparency, management changes, and the withdrawal of key supporters. GCP board members responded that 25 game chain projects are using Arbitrum technology. So far, the current community has not reached a consensus on this.

Circle and SBI jointly promote USDC to enter the Japanese market, officially launched on March 26

Circle Japan KK, the Japanese subsidiary of Circle, the issuer of USDC stablecoin, will cooperate with SBI Holdings Group to fully launch USDC stablecoin in Japan through SBI VC Trade on March 26. USDC has been approved by the Japanese Financial Services Agency and has become the first global dollar stablecoin to be legally circulated in Japan. Exchanges such as Binance Japan, bitbank and bitFlyer also plan to launch USDC in the future.

Oklahoma House passes Strategic Bitcoin Reserve Act

The Oklahoma House of Representatives passed HB1203, the Strategic Bitcoin Reserve Act, with an overwhelming majority of 77 votes to 15. The bill aims to support the state government's holding of Bitcoin as a reserve asset, allowing up to 10% of public funds to be invested in Bitcoin or digital assets with a market value of more than $500 billion. Oklahoma thus joins Texas, Arizona and Utah as a few states that have passed such legislation in one chamber. The bill will be submitted to the state Senate for deliberation.

Mt. Gox Cold Wallet Just Moved Over $1 Billion in Bitcoin

According to Arkham monitoring data, Mt.Gox cold wallet transferred a total of 11,501.58 BTC (about 1.01 billion US dollars) to two addresses at 08:21 (UTC+8), of which 893 BTC were transferred to the hot wallet and 10,608 BTC were transferred to another change address (starting with 1DcoA). The transaction only cost about $1.98 in fees.

Dogecoin Foundation sets up official reserve, first purchases 10 million DOGE

According to The Block, the Dogecoin Foundation has established an "official Dogecoin reserve" through its newly established commercial organization House of Doge, and has purchased 10 million DOGE, which is about $1.8 million at market price. The reserve is intended to serve as a verification demonstration of DOGE's efficient payment capabilities. The Foundation plans to promote the application of DOGE in commercial payment scenarios and will announce the first strategic cooperation in the coming months. DOGE prices rose 10% in the past 24 hours, but have fallen by about 40% since November 2024.

Kentucky officially signs Bitcoin Bill of Rights, protecting the rights of self-custody and node operation

The governor of Kentucky, USA, officially signed HB701 into law on March 24, local time, to protect residents' rights to use digital assets, self-hosted wallets, and run blockchain nodes. The bill explicitly excludes such behaviors from money transmission licenses and securities supervision, and restricts local governments from discriminatory management of related technical activities.

Crypto exchange Kraken plans to raise up to $1 billion in debt to pave the way for an IPO

According to Bloomberg, the crypto exchange Kraken is considering raising up to $1 billion in debt financing to support future growth and prepare for a possible initial public offering in the first quarter of 2026. Kraken has worked with Goldman Sachs and JPMorgan Chase to advance the plan and may raise some equity financing at the same time. Kraken has previously spent $1.5 billion to acquire futures platform NinjaTrader, with revenue reaching $1.5 billion in 2024, a year-on-year increase of 128%.

U.S. stocks closed: Nasdaq rose more than 2%, Tesla rose nearly 12%

At the close of U.S. stocks on Monday, the Dow Jones Industrial Average rose 1.42%, the S&P 500 rose 1.76%, and the Nasdaq rose 2.27%. Nvidia (NVDA.O) rose 3%, and Tesla (TSLA.O) rose 11.9%. Among blockchain concept stocks, MARA Holdings (MARA) rose 18.01%, Strategy (MSTR.O) rose 10.43%, and Coinbase (COIN.O) rose 6.94%.

Trump Media to Launch ‘Made in America’ Themed ETF in Partnership with Crypto.com

According to The Block, Trump Media & Technology Group (TMTG) announced that it has signed a preliminary agreement with Crypto.com to launch a series of digital assets and stock ETFs and ETPs with the theme of "Made in the USA" through its fintech brand Truth.Fi. The series of funds plans to cover a variety of crypto assets such as Bitcoin and Cronos, and focus on innovative companies and industries in the United States. Crypto.com will provide backend technology, custody services and token supply. These products are expected to be launched in 2025, subject to regulatory approval, and will be launched in many places in the United States, Europe and Asia through platforms such as Foris Capital US.

Binance Wallet will launch Particle Network (PARTI) exclusive TGE, with a maximum subscription limit of 3 BNB

According to the official announcement, Binance Wallet will launch the exclusive TGE of Particle Network (PARTI), and the subscription time is 18:00-19:00 (UTC+8) on March 25. The total amount raised is 1.25 million US dollars (in BNB); 5 billion tokens are available (5% of the total supply); the price of each token is 0.025 US dollars (in BNB); the subscription limit for each wallet user is 3 BNB.

Binance HODLer Airdrop Launches Particle Network (PARTI)

According to the official announcement, Binance HODLer airdrop is now live on the 13th project ParticleNetwork (PARTI). From 08:00 on March 7 to 07:59 on March 11 (ET8), users who use BNB to subscribe to the coin earning platform products will receive PARTI airdrop rewards. HODLer airdrop information is expected to be launched within twelve hours, and the new tokens will be distributed to users' spot wallets at least 1 hour before trading begins. Binance will launch PARTI at 21:00 on March 25 (ET8), and open PARTI/USDT, PARTI/USDC, PARTI/BNB, PARTI/FDUSD and PARTI/TRY trading pairs.

Sanctioned Russian Crypto Exchange Garantex May Change Its Name to Grinex

According to Coindesk, the latest report from Swiss blockchain analysis company Global Ledger shows that the sanctioned Russian cryptocurrency exchange Garantex has changed its name to Grinex. A large amount of on-chain and off-chain data shows that Grinex is the direct successor of Garantex. Part of Garantex's liquidity, including all of Garantex's holdings of the ruble-backed stablecoin A7A5, has been transferred to a wallet controlled by Grinex.

Solana Ecosystem Restaking Protocol Fragmetric Completes $5 Million Financing, Led by RockawayX

Solana Ecosystem Re-Pledge Agreement Fragmetric Completes $5 Million in Financing, Led by RockawayX, with Participants from Robot Ventures, Amber Group, Hypersphere, and BitGo. Currently, Fragmetric has received a total of $12 million in financing. According to previous news, Solana Re-Pledge Agreement Fragmetric Completed $7 Million in Seed Round Financing, Led by Finality Capital Partners and Hashed.

Market News: World Network is negotiating with Visa on stablecoin payment wallet

According to CoinDesk, the digital identity project World Network, backed by Sam Altman, is in talks with Visa about a stablecoin payment wallet. The goal is to bring Visa card functionality to the World Network wallet, provide a range of fintech and foreign exchange applications, fiat currency in and out channels, and allow stablecoin-based payments to thousands of merchants around the world in the Visa network. Tools for Humanity, a company co-founded by Open AI CEO Sam Altman that manages Worldcoin and World Network, has made a request to the credit card issuer in the form of a product. Earlier this month, World Network announced the launch of a World Chat application and support for transferring money between users in the form of encrypted transactions on the network.

Bernstein analyst: Cryptocurrency is moving towards a "one-stop" multi-asset investment platform

According to Theblock, Bernstein analysts said that as exchanges and broker/dealer models begin to merge, the crypto industry is moving towards a more integrated "one-stop" multi-asset investment platform. Coinbase is in deep negotiations to acquire Deribit, Kraken is about to acquire NinjaTrader, and Robinhood is integrating Bitstamp. Analysts led by Gautam Chhugani wrote in a report to clients: "As the regulatory environment relaxes, crypto exchanges and broker/dealers are undergoing strong M&A actions," as traditional brokers seek to offer crypto tokens and cryptocurrency exchanges plan to integrate traditional stocks and derivatives. Analysts believe that the U.S. crypto derivatives market has huge growth potential because offshore markets such as perpetual futures are three to four times larger than spot markets. They said that last year, the trading volume of Bitcoin and Ethereum futures outside the United States was $31 trillion, while the annual trading volume of the Chicago Mercantile Exchange in the United States was about $2.5 trillion. At the same time, the U.S. crypto options market is still in its early stages and is mainly limited to Bitcoin futures options on the Chicago Mercantile Exchange. However, as the U.S. SEC and CFTC become more supportive of crypto, analysts expect the market for spot and derivative crypto products to expand within the U.S. They note that this could lead to crypto platforms offering traditional assets and vice versa, allowing brokerage platforms to offer a wider range of assets.

Nillion Alpha mainnet is now live

Blind computer network Nillion tweeted that the Nillion Alpha mainnet and NIL tokens are now online.

Binance will launch Nillion (NIL) contracts, financial management, flash exchange, leverage and other services

According to the official announcement, Binance Financial Management, One-Click Coin Buying, Flash Exchange, Leverage, and Contracts will launch Nillion (NIL). NIL Principal Guaranteed Earning Coins Current Product will be launched on Binance Principal Guaranteed Earning Coins platform and open for subscription at 21:00 (ET on March 24). NIL 1-75x U-standard perpetual contracts will be launched at 21:00 (ET on March 24).

Data: Last week, 5 companies increased their holdings by 7,349 bitcoins

According to HODL15Capital, among the top 70 companies holding Bitcoin, 5 companies increased their holdings of Bitcoin last week, with an increase of 7,349 Bitcoins. The top 70 companies hold a total of 670,153 Bitcoins.

Rain, a debit card issuer that allows stablecoin settlement, completes $24.5 million financing, led by Norwest Venture Partners

According to Fortune, Rain, a company that issues debit and credit cards, has completed a $24.5 million financing round, led by Norwest Venture Partners, with participation from Galaxy Ventures, Goldcrest, Thayer and Hard Yaka. Rain's valuation in this round of financing has not yet been disclosed. Rain is a company that issues debit and credit cards, allowing customers to settle payments using stablecoins. Rain will use the funds raised in this round to expand its team, develop new technologies and apply for additional regulatory licenses.

Strategy increased its holdings of 6,911 bitcoins between March 17 and 23, with an average purchase price of $84,529

According to market news, Strategy increased its holdings of 6,911 bitcoins between March 17 and March 23, with an average purchase price of $84,529 and a total value of $584.1 million. It currently holds 506,137 BTC, with a total value of approximately $33.7 billion, an average of $66,608 per bitcoin.

DefiLlama: The "BNB Chain's DEX transaction volume exceeds Ethereum" chart circulated by the community has a fault in the Base data, which is currently being fixed

DefiLlama tweeted that the Base data in the community-circulated "BNB Chain's 7-day DEX transaction volume exceeds Ethereum" chart is faulty and is currently being fixed. The rest of the content in the screenshot is correct.

Binance Bitcoin open interest rises by around $600 million

According to CoinDesk, Binance's BTC-USDT futures open interest has increased by about 7,000 BTC ($614.6 million) since early Asian trading, according to data tracked by Coinglass and Velo Data. Open interest refers to the number of active or open contracts at a specific time. In addition, Binance's funding rate has remained positive, indicating that investors prefer leveraged bullish (long) bets. The increase in open interest and the rise in prices confirm the upward trend.

CoinShares: Last week, digital asset investment products saw a net inflow of $644 million, breaking the five-week outflow trend

According to CoinShares' latest weekly report, digital asset investment products reversed last week, breaking a five-week outflow trend with a total inflow of $644 million. Bitcoin attracted $724 million in inflows, ending a five-week outflow totaling $5.4 billion. Ethereum suffered the heaviest outflows, with $86 million in outflows, while Solana had an inflow of $6.4 million. Most of the inflows came from the United States, with inflows of $632 million. However, optimism was widespread, with Switzerland, Germany, and Hong Kong also recording inflows of $15.9 million, $13.9 million, and $1.2 million, respectively.

Bloomberg: US ETH spot ETF has experienced net outflows for 13 consecutive days, the longest outflow cycle since its launch

According to Bloomberg, U.S. exchange-traded funds that invest directly in ETH have suffered their longest outflow streak since launching in July 2024. Nine ETFs have seen net outflows for 13 consecutive days, with total outflows of about $415 million. In contrast, U.S. Bitcoin ETFs have rebounded from a period of weakening investor demand, with net inflows for six consecutive days as of March 21. Standard Chartered Bank cut its year-end price target for ETH by 60% to $4,000 in a report last week, citing concerns about Ethereum's scalability. The bank said in a report that Ethereum has "largely become commoditized within its homegrown L2 framework," casting doubt on its long-term competitive advantage.

OKX will launch PARTI (Particle Network) spot trading

According to the official announcement, OKX will launch PARTI (Particle Network) spot trading. The trading opening time is 9:00 pm on March 25 (UTC+8).

The founder of Curve Finance sold 468,769 CRV about 9 hours ago, with an estimated loss of $745,000

According to Spot On Chain monitoring, Curve Finance founder Michael Egorov sold 468,769 CRV at $0.508 about 9 hours ago and received 238,171 USDC. On December 17 and 18, Michael Egorov bought 1.226 million CRV at an average price of $1,114 ($1.37 million). This investment now has a loss of $745,000 (-54.6%).

Market News: WLFI is suspected of issuing stablecoin USD1 on Ethereum and BNB Chain and conducting functional testing

According to market news, the WLFI project is suspected of issuing the stablecoin USD1 on Ethereum and BNB Chain, and is conducting multiple functional tests, in which Wintermute is already involved.

dYdX community launches DYDX token repurchase plan, 25% of protocol revenue is used for repurchase, DYDX rises by more than 10% in a short period of time

The dYdX community launched the first DYDX token buyback program, and 25% of the protocol's net revenue will be used for the buyback program. Although the initial allocation will use 25% of the net protocol revenue for buybacks, the community is discussing the possibility of increasing this ratio to 100%. Influenced by this news, DYDX rose by more than 10% in a short period of time.

Aptos Ecosystem Liquidity Staking Protocol Amnis Finance Launches Governance Token AMI, Airdrops 8%

Aptos ecosystem liquidity pledge agreement Amnis Finance launched its governance token AMI, with a total of 1 billion tokens. The token distribution plan includes: 20% community rewards, 20% team, 15% marketing, 16% ecosystem development, 16% investors, 5% liquidity and 8% airdrop. Earlier news, Aptos on-chain liquidity pledge agreement Amnis Finance completed US$2 million in financing. This round of financing was jointly led by Borderless Capital and OKX Ventures, and Aptos Labs, Arkgrow Pte Ltd, Ambush Capital, Gate Ventures, Sky Vision Capital, Old Fashion Research, Chorus One Venture, Re7 and Flowdesk participated in the investment.

CEX platform ETH holdings reached 8.97 million, a nine-year low

According to CoinDesk, the number of Ether (ETH) held in wallets linked to centralized exchanges has fallen to a nine-year low of 8.97 million, according to data tracked by CryptoRank and Santiment. This is the lowest record since November 2015. The continued outflow of tokens from centralized trading platforms may lead to a reduction in the supply of tokens on the market, triggering a surge in prices. BTC has also shown a similar trend, with prices soaring after exchange holdings hit a seven-year low.

QCP Capital: This market rebound may be driven by ETF spot demand, but remains cautious about whether it can continue to rise

QCP Capital, a Singapore-based crypto investment agency, said that the crypto market rebounded modestly over the weekend, with BTC and ETH breaking through $85,000 and $2,000, respectively. The recovery appears to be led by the stock market, with stock futures rebounding strongly. While recession concerns continue, Powell's speech at last week's FOMC meeting, though measured, helped ease investor nerves. The Crypto Fear and Greed Index has increased from 32% last week to 45% this week (49% neutral), reflecting a general easing of risk aversion. A notable highlight is the spot BTC ETF inflow, which bought 8,775 BTC (equivalent to $744 million) last week, a sharp increase. This marks a sharp reversal after weeks of net outflows and sends early signs of liquidity flowing back into the crypto market. As perpetual open interest remains depressed and funding rates are flat, the rebound appears to be driven by real spot demand rather than leverage, a key distinction as leverage-driven moves tend to close suddenly when liquidated. However, despite renewed ETF momentum and today’s follow-through rebound, caution remains about the prospect of a sustained breakout higher. The impending tariff escalation, set to take effect on April 2, could weigh on risk assets again. Meanwhile, options markets reflect a more neutral wait-and-see attitude, with implied volatility trending lower and risk reversals flattening across all maturities, in stark contrast to the more bearish trend observed a week ago. It will be important to watch whether this week’s recovery mirrors last Monday’s price action, when the cryptocurrency rallied on Sunday only to retrace sharply within 48 hours.