Organized by: Luan Peng, ChainCatcher
"What Important Events Happened This Week (3.10-3.16)"
The TON Foundation announced that French authorities have returned the passport of Telegram founder Pavel Durov, granting him the right to leave the country freely. This news marks an important resolution moment. Telegram has nearly 1 billion users worldwide, representing a global movement dedicated to the inalienable rights of communication freedom and privacy. As part of the decentralized TON community, the TON Foundation stands firmly with Pavel, supporting his unwavering determination to defend online freedom of speech and privacy rights.
"Our commitment to these fundamental principles remains steadfast. We firmly believe that blockchain is a #freedom technology—an innovative tool that can change the way we protect personal rights—we are proud to be part of an ecosystem that empowers individuals with freedom and secure communication."
Manta Network co-founder Victor Ji posted on X, stating: "We basically receive invitations every day from so-called proactive market makers and OTC to buy coins and acquisitions, and my attitude is to just stay put. Market makers, whether proactive or passive, are in my eyes blood-sucking parasites; they do not consider the fundamentals of the project at all, but every time we meet, these people are very active in events, and the bosses are also very wealthy, why? Because this money comes from the project's community. If in this industry, more funds do not pay attention to fundamentals, then this industry will collapse faster and faster, and market makers are the most blatant group that ignores fundamentals. I believe that liquidity comes from real community trading; whether you are bullish or bearish, it is a natural market. If market makers are willing to participate, you can buy coins in the market to gain positions."
Victor Ji added: "If some project founders are worried about insufficient liquidity but are unwilling to spend money on retainers, then my suggestion is to do loans, but the size must be minimal. In the early days of the Polkadot era, Calamari was asked by Three Arrows to provide over 3% of tokens, and these guys immediately sold the coins, while telling us how legit they were and that they would never sell coins. A real loan only needs no more than 0.2% of the coins. Because think about it, if the depth of 2% needs 200k, that is already a lot; 0.2% of coins must exceed this value. If market makers want more coins, aren't they just here to dump?"
3. OKX to Add USD Trading Pairs for Certain Coins
According to the official announcement, to support the development of the USD ecosystem and meet users' diverse trading needs, OKX will add the following USD trading pairs under spot trading.
From March 10, 2025, 2:00 PM to 4:00 PM (UTC+8): MDT/USD, NULS/USD, MLN/USD, ERN/USD, PERP/USD, GLMR/USD, JOE/USD, XNO/USD, GHST/USD, SNT/USD, BNT/USD, TRA/USD, VENOM/USD, OXT/USD, LEO/USD, T/USD, ZERO/USD, DIA/USD, POR/USD, FLM/USD.
From March 18, 2025, 2:00 PM to 4:00 PM (UTC+8): SLP/USD, ALPHA/USD, ARTY/USD, DAO/USD, GLM/USD, WAXP/USD, DEP/USD, ICX/USD, KP3R/USD, G/USD, AERGO/USD, IQ/USD, NMR/USD, BZZ/USD, CELR/USD, UMA/USD, SD/USD, OMI/USD, TRB/USD, MAGIC/USD.
From March 20, 2025, 2:00 PM to 4:00 PM (UTC+8): CTXC/USD, CLV/USD, ACA/USD, PHA/USD, GOG/USD, BADGER/USD, ARG/USD, CVC/USD, BAND/USD, KNC/USD, LAMB/USD, CFG/USD, SC/USD, RSS3/USD, POLYDOGE/USD, ONE/USD, ACE/USD, PRQ/USD.
From March 25, 2025, 2:00 PM to 4:00 PM (UTC+8): API3/USD, ENJ/USD, KSM/USD, TNSR/USD, PENDLE/USD, MILO/USD, BAL/USD, MXC/USD, ORBS/USD, LSK/USD, RVN/USD, KISHU/USD, DGB/USD, ASTR/USD, AUCTION/USD, ELF/USD, RPL/USD, CVX/USD, SAMO/USD.
From March 28, 2025, 2:00 PM to 4:00 PM (UTC+8): GAS/USD, RACA/USD, GOAL/USD, MOVR/USD, BORA/USD, YFI/USD, PSTAKE/USD, AXS/USD, BICO/USD, ZRX/USD, ONT/USD, IOST/USD, XTZ/USD, EGLD/USD, RSR/USD, BABYDOGE/USD, OAS/USD, FLOW/USD, ZIL/USD, BAT/USD.
4. Hong Kong Securities and Futures Commission Releases Regulatory Roadmap for Virtual Asset Market
The Hong Kong Securities and Futures Commission has released the "A-S-P-I-Re" roadmap for the virtual asset market in Hong Kong. The SFC stated that to maintain a leading position in this ever-changing environment, the regulatory roadmap is based on five pillars: "A-S-P-I-Re" (Access, Safeguards, Products, Infrastructure, and Relationships), aimed at guiding the Hong Kong virtual asset ecosystem into the future.
The roadmap includes 12 specific measures, including promoting market participation, implementing adaptive compliance and product frameworks, and upgrading infrastructure by combining the reliability of traditional finance with the efficiency of blockchain technology. This series of measures reflects our pragmatic approach to solidifying Hong Kong's role as a reliable liquidity hub for virtual assets.
5. US SEC Delays Approval of DOGE, XRP, LTC, Solana, and ADA Spot ETFs
The U.S. Securities and Exchange Commission (SEC) announced this morning that it has delayed multiple cryptocurrency spot ETF applications, including Grayscale's Cardano (ADA) and DOGE spot ETFs, as well as Canary's XRP, Solana, Litecoin spot ETFs, and VanEck's Solana spot ETF.
6. Crypto Payment Company Mesh Completes $82 Million Series B Financing, Led by Paradigm
Crypto payment company Mesh announced the completion of $82 million in Series B financing to expand its stablecoin-based payment settlement network. This round of financing was led by Paradigm, with participation from ConsenSys, QuantumLight, Yolo Investments, Evolution VC, Hike Ventures, Opportuna, and AltaIR Capital.
Mesh aims to build a payment network connecting crypto wallets, exchanges, and payment service providers, allowing users to pay with crypto assets like BTC, ETH, SOL, while merchants can choose to settle in USDC, PYUSD, or RLUSD.
7. Trump Purchases a Red Tesla Model S
U.S. President Trump has purchased a red Tesla (TSLA.O) Model S.
ChainCatcher previously reported that President Trump posted on social media, stating, "Musk is 'taking risks to help our country,' he is doing a great job, but those radicals are trying to resist Tesla in illegal and collusive ways, aiming to attack and harm Musk and everything he represents. I am going to buy a brand new Tesla tomorrow morning to express my trust and support for Musk."
8. Binance Alpha Launches New Review Mechanism and Removes 21 Tokens That Do Not Meet Standards
According to the official announcement, Binance Alpha has launched a new review mechanism to conduct regular reviews of featured tokens. Given the inherent instability and rapid development of the cryptocurrency industry, our review process is beneficial for dynamic adjustments to ensure that all projects on Binance Alpha continue to meet market-driven evaluation standards. All tokens displayed in the Binance Alpha section will be evaluated within this framework:
Quantitative Indicators: Trading volume stability, liquidity depth, on-chain transaction frequency, token holder distribution, and other relevant indicators.
Qualitative Standards: Credibility of the project team, compliance with regulations, ecosystem synergy, community recognition, and other relevant factors.
Tokens that do not meet these standards will be removed from Binance Alpha.
According to the latest detailed investigation, the following tokens do not meet Binance wallet standards and will be removed from Binance Alpha: FAI, METAV, MLG, MONKY, PSTAKE, WHALES, GEL, VISTA, EVAN, MIRA, COCO, TAOCAT, FLOCK, OPUS, FREYA, AIXCB, VERTAI, STRDY, SEKOIA, VADER, ELIZA.
9. MGX Board Chairman is Abu Dhabi's Deputy Crown Prince, Son of UAE Founder
According to the official website of Abu Dhabi investment firm MGX, the chairman of the MGX board, Tahnoun bin Zayed Al Nahyan, is the Deputy Crown Prince of Abu Dhabi and National Security Advisor, and is the son of UAE founder Zayed bin Sultan Al Nahyan.
It is reported that MGX was established in March 2024 by the Abu Dhabi Artificial Intelligence and Advanced Technology Committee (AIATC). The committee was formed in January 2024, with Tahnoun bin Zayed Al Nahyan as its chairman, responsible for formulating and implementing policies and strategies related to artificial intelligence and advanced technology in the Emirate of Abu Dhabi.
ChainCatcher previously reported that according to official news, cryptocurrency exchange Binance and Abu Dhabi-based AI and advanced technology investor MGX announced a $2 billion investment deal, marking Binance's first institutional investment to date and a significant step in promoting digital asset adoption and strengthening the role of blockchain in global finance. This is the largest single investment in a cryptocurrency company and the largest investment in cryptocurrency (stablecoins) ever.
10. MGX Invests $2 Billion in Binance and Acquires Minority Stake
According to official news, cryptocurrency exchange Binance and Abu Dhabi-based AI and advanced technology investor MGX announced a $2 billion investment deal, marking Binance's first institutional investment to date and a significant step in promoting digital asset adoption and strengthening the role of blockchain in global finance. This is the largest single investment in a cryptocurrency company and the largest investment in cryptocurrency (stablecoins) ever.
It is reported that this investment represents MGX's first foray into the cryptocurrency and blockchain space, acquiring a minority stake in Binance as part of a broader strategy to support the transformative impact of blockchain on society.
11. Six Members of Trump's Cabinet Hold Cryptocurrency, Totaling Millions of Dollars
According to Fortune magazine, after reviewing the financial disclosures of President Trump's cabinet members from January, it was found that six members of Trump's cabinet indirectly hold Bitcoin through other financial instruments or have invested in cryptocurrencies, totaling millions of dollars.
The six members who invested in Bitcoin and their holdings include:
- U.S. Secretary of Health and Human Services Robert Kennedy Jr. disclosed a Bitcoin Fidelity cryptocurrency account valued between $1 million and $5 million.
- Office of Management and Budget Director Russell Vought disclosed Bitcoin in a Coinbase wallet valued between $1,001 and $15,000, stating he would divest.
- Director of National Intelligence Tulsi Gabbard reported owning a Bitwise Bitcoin ETF trust fund valued between $15,001 and $50,000, as well as Bitcoin valued between $15,001 and $50,000, stating she would divest.
- Secretary of Defense Pete Hegseth disclosed holding Bitcoin valued between $15,001 and $50,000.
- U.S. Treasury Secretary Scott Bessent's financial disclosure shows he holds an iShares Bitcoin Trust ETF valued between $250,000 and $500,000, and he will divest within 90 days after confirmation.
- Secretary of Transportation Sean Duffy disclosed Bitcoin valued between $250,000 and $500,000, Bitcoin held in a Gemini wallet valued between $250,000 and $500,000, and the Fidelity Wise Origin Bitcoin Fund valued between $50,000 and $100,000.
12. Binance CEO: Trump's Pro-Cryptocurrency Stance is Milestone
Binance CEO Richard Teng stated that the Trump administration's decision to create a strategic Bitcoin reserve is a "good first step" that may prompt other governments to consider "allocating to cryptocurrencies."
"The question is not whether to allocate, but whether to allocate 2% or 5%, right? So we are currently having many important conversations like this. The long-term drivers are very strong," Richard Teng commented.
Binance founder Zhao Changpeng posted on social media, stating, "Bloomberg has published another baseless smear article, and they basically admit that the entire article is completely fabricated. I/Binance have not engaged in any business transactions with WLFI or anyone mentioned in the article, nor have we purchased any WLFI tokens."
14. Surveillance Technology Company Flock Safety Raises $275 Million Led by A16z
According to TechInAsia, Atlanta-based surveillance technology company Flock Safety has completed a $275 million financing round led by Andreessen Horowitz (A16z), with the company's valuation reaching $7.5 billion. Other participants in this round of investment include Greenoaks Capital and Bedrock Capital.
To date, Flock Safety has raised over $950 million in total funding. The company plans to develop domestically manufactured drones in the U.S. by 2025 and build a 100,000 square foot manufacturing facility in Georgia. The company focuses on providing AI-based security monitoring solutions primarily for government and enterprise clients.
15. Web3 Asset Data Platform RootData Organizes and Presents Binance Team Organizational Chart
Web3 asset data platform RootData has organized the main team organizational chart of Binance based on publicly available information and made the following observations:
- Most of Binance's executives have impressive resumes, coming from major Web2 companies like Uber and Morgan, or crypto giants like Kraken, Gemini, and OKX.
- In the list of individuals compiled by RootData, Binance is the cryptocurrency company with the most associated individuals, currently including as many as 140 recorded individuals (including both current and former members, all of whom have a certain influence in the industry), followed by HTX, a16z, Polygon, OKX, and others.
- Binance's total employee count at the beginning of this year was 5,000, with 1,000 located in the UAE. This number has dropped by about 37% from the peak of 8,000 in August 2023, but still represents a fivefold increase compared to 2020. Currently, Binance's official website shows that there are still about 350 job openings, mainly for engineering and compliance-related positions.
It is reported that after Binance completed the largest financing in the history of the crypto industry, this towering tree has once again become the focus of the market. For a long time, apart from core members like Zhao Changpeng and He Yi, most of Binance's executives have rarely been active on external communities like Twitter, and the outside world knows little about its organizational structure.
16. Michael Saylor: The Main Composition of ETF BMAX is Strategy's Convertible Bonds
Strategy founder Michael Saylor posted on the X platform stating that the main composition of ETF BMAX is Strategy's convertible bonds.
ChainCatcher previously reported that Strategy founder Michael Saylor introduced the new ETF BMAX on his personal social media platform, which is the first ETF to provide opportunities for retail investors and investment advisors to invest in convertible bonds issued by companies that incorporate Bitcoin into their financial strategies.
17. Hong Kong Asia Holdings Board and Executive Team Completely Overhauled to Implement Bitcoin Strategy
According to the official announcement, the Hong Kong-listed company Hong Kong Asia Holdings (1723.HK), known as Strategy (formerly MicroStrategy), has announced a series of new appointments, including directors, chairman, CEO, CFO, and CIO.
New CEO John Riggins stated on social media that the comprehensive changes to the company's board of directors have been completed, and Bitcoin-related (₿ig) products are about to enter Asia's most important market.
The announcement shows that new CEO John Riggins graduated from the University of Alabama in 2013 with a Bachelor of Business Administration, majoring in International Economics and minoring in Chinese. Riggins has over 10 years of experience in the cryptocurrency industry and is a founding partner of the UTXO Bitcoin Ecosystem Fund. Since February 2016, he has also served as the International Operations Director of BTC Inc. (the publisher of Bitcoin Magazine and organizer of the annual Bitcoin conference).
18. Former Ethereum Foundation Engineer: Ethereum Should Reduce Research and Focus on Product Delivery
According to crypto.news, former Solidity expert and compiler engineer at the Ethereum Foundation, Harikrishnan Mulackal, stated that Ethereum lacks a clear development vision, leading to stagnation in changes to the Ethereum Virtual Machine (EVM).
Mulackal suggested that Ethereum needs more decisive leadership; otherwise, the only viable path is "stagnation—no more changes." He called for a reduction in research and a focus on product delivery, recommending quarterly hard fork updates.
Meanwhile, the Ethereum Foundation's continued sale of ETH and its relatively flat price performance may be constraining its development.
19. Astar: zkEVM Will Cease Operations on April 1, Advising Users to Withdraw All Assets Before Then
According to official news, Astar Network has officially announced that its zkEVM will cease operations on April 1, 2025.
Astar Network reminds users to pay attention to asset security and ensure that asset migration is completed before the network shuts down to avoid potential asset loss.
20. Telegram Founder Pavel Durov Granted Permission to Leave
According to Cointelegraph citing AFP, Telegram founder Pavel Durov has been granted permission by a French court to leave France and has now returned to Dubai.
Reports indicate that Durov received court approval on March 13 to travel to Dubai. AFP quoted unnamed sources stating, "Durov left France this morning," adding that he departed with the authorities' approval.
The specific terms of the court's decision are currently unclear, and Durov himself and his legal team have not made any public statements regarding the matter.
"What Are the Noteworthy Articles to Read This Week (3.10-3.16)"
1. Amber Lists on Nasdaq, Over 10 Companies Queue for IPO, Kicking Off the Year of Crypto 'IPOs'
Recently, Amber Group's digital wealth management platform Amber Premium officially completed its merger with U.S. listed company iClick Interactive. The merged company has been renamed "Amber International Holding Limited" and began trading on Nasdaq yesterday under the new stock code "AMBR."
AMBR closed at $11 yesterday, with a total trading volume of $3.06 million and a total market capitalization of $960 million.
In addition to Amber Group, since the beginning of this year, Bitcoin rewards financial service company Fold Holdings (FLD) has also completed its listing on Nasdaq, and Circle plans to complete its IPO this year.
Several other crypto companies are also advancing their listing plans. Last week, Bloomberg reported that Gemini has secretly filed for an IPO and is working with Goldman Sachs and Citigroup on the issuance. Meanwhile, cryptocurrency exchange Kraken is actively preparing for an IPO in the first quarter of 2026.
The crypto-friendly environment following Trump's administration is expected to drive 2025 to become the year of crypto 'IPOs.'
2. Understanding Berachain's Eco-Stablecoin Cross-Chain Project Polaris | Early Stage Project Focus
On February 27, Sky (formerly MakerDAO) announced the launch of Polaris on the X platform. However, apart from this announcement, Polaris currently has almost nothing—its official website is not online, the white paper has not been published, and even the official Twitter account has not posted a single tweet.
But if we set aside these superficial "blank spaces," the story behind Polaris may be worth exploring. Polaris is launched by Sky and is based on Berachain to build a DeFi ecosystem. The project plans to integrate the USDS stablecoin into Berachain to create a "fully autonomous liquidity system" and inject liquidity support into the Berachain ecosystem.
Recently, the on-chain credit lending protocol 3Jane released its white paper. The white paper indicates that 3Jane is a credit-based money market that enables zero-collateral loans. It verifies wallet addresses and bank accounts using zero-knowledge proof technology to provide credit loan limits, and then implements risk control for zero-collateral loans through credit score penalties and auctioning defaulted debts.
Although the uncollateralized credit market has matured in traditional finance, in DeFi, it is still dominated by over-collateralized lending, i.e., the "pledge 100 to borrow 50" model. Additionally, there are existing uncollateralized lending protocols like Maple Finance and Goldfinch, which mainly target institutions and market makers, making it difficult for ordinary users to borrow efficiently.
According to the white paper, 3Jane will create a peer-to-pool credit-based money market that supports algorithmic, real-time unsecured USDC credit limits, providing funding for farmers, traders, businesses, and AI agents.
In simple terms, what 3Jane is doing is a credit loan product commonly seen in traditional finance, such as "Jiebei" in Alipay, where users can obtain corresponding loan limits based on their "Sesame Credit" scores. However, in the decentralized crypto system lacking centralized institutional support, this product appears bold and aggressive.
Currently, the 3Jane product is still in the development stage, and the official has opened an early user application channel for relevant applications for early testing. However, it should be emphasized that the off-chain credit technology platform that 3Jane collaborates with, such as Plaid, currently supports limited regions (e.g., the U.S., Europe, etc.), mainly supporting the U.S. credit system. Therefore, at the initial launch of the 3Jane product, it may only support a few regions, with areas like Asia potentially being excluded.
4. Survival of the Fittest: A Review of the Recent Performance of Seven Major DEXs
In the past week, the survival status of decentralized exchanges has sparked widespread discussion.
Hyperliquid was shaken by a 50x leveraged whale's "self-destructive arbitrage," with its HLP insurance pool suffering nearly $4 million in losses after taking on liquidation orders.
On the other hand, GMGN, which was once thriving during the Pump period, has also fallen into significant difficulties. According to Dune's data, the platform's revenue has plummeted from $2.34 million on January 19 to $74,000 on March 11, a nearly 97% drop. Meanwhile, community feedback has highlighted high KOL marketing expenses, user attrition, and intensified competition due to CEX entry, raising further concerns about GMGN's future.
In this context, ChainCatcher has reviewed the recent revenue situations of seven major DEXs for readers' reference.
5. Sovereign Funds Have Long Been Deep in the Crypto Market; Who Will Be the Next Big Investor?
Last night, Abu Dhabi's state capital MGX announced a $2 billion investment in Binance, setting a record for the largest single investment in the crypto space to date.
Unlike the uncertainties brought about by regime changes in North America, the sovereign funds of Middle Eastern countries like the UAE, Saudi Arabia, and Qatar are long-term and stable, with assets spread across the globe. Being invested by them means entering a higher-dimensional capital circle.
Even more intriguing is a statement from Binance co-founder He Yi: "Welcome sovereign funds, but financial investors can stay away." This raises curiosity about why sovereign funds are so favored. Have they already laid the groundwork, or are they just entering the scene? Which sovereign fund will be the next to make a significant investment?
6. When It Gets Tough, Even Exchanges Get Cut! A Deep Dive into How Hyperliquid Lost $1.8 Million
Today, a whale with 50x leverage on Hyperliquid re-entered the market, opening a long position of about $300 million in ETH, with a peak floating profit of $8 million. However, he quickly withdrew most of the principal and profits, actively compressing the liquidation price, ultimately leading to the liquidation of 160,234.18 ETH (worth $306 million), leaving with a "regretful" $1.8 million.
In contrast to the whale's profits, Hyperliquid's HLP insurance pool bore significant losses in this incident. According to Hyperliquid's official data, HLP lost about $4 million within 24 hours to cover the losses caused by the massive position liquidation.
7. As the Tide Falls, Airdrops Rise: A Review of Seven Potential Airdrop Projects Worth Watching
Yesterday, Bitcoin fell below $77,000, Ethereum dropped below $1,800, and altcoins were in a "bloodbath." In this gloomy market, anxiety seems to be an unavoidable emotion, but why not change perspectives and look to the future? Upcoming airdrop projects may be hiding undiscovered gems, waiting for the next wealth explosion.
This article will review projects that are about to airdrop or have potential airdrop opportunities, guiding readers through the market fog to capture future opportunities.
8. The Father of DeFi Returns: Can FlyingTulip Continue the YFI Myth?
On March 10, Andre Cronje, the founder of Sonic Labs, Yearn Finance, and Keep3rV1, updated his personal social media profile to include the title "Founder of FlyingTulip."
In the wave of continuous development of blockchain infrastructure, Optimum has entered the field with high-performance memory technology, attracting the attention of top investors.
On February 28, Optimum, a high-performance memory infrastructure for blockchain, announced the completion of its angel round financing, with participation from several industry leaders, including Polychain CTO Abhijeet Mahagaonkar, DeFiance Capital founder Arthur Cheong, Bitget CEO Gracy Chen, Wormhole co-founder Robinson Burkey, and Polygon co-founder Sandeep Nailwal.
The first tweet from Optimum's official X account was posted a month ago. The project has not yet publicly released a white paper or technical roadmap. Although the project is still in the very early stages, the background of the founding team is already noteworthy: the NEC Dean of the MIT Computer Science Department and the President of the Harvard Blockchain Association, among others. What potential does this star-studded project hide?
Liquidity is the lifeline that maintains price stability, and market makers are the guardians of this lifeline. However, what chaos ensues when the guardians become "predators"?
GPS fell below its opening price just 20 minutes after being listed on the exchange, plummeting 74% from a high of $0.15. SHELL dropped from $0.70 all the way down to $0.26. The price charts of the two tokens, GPS and SHELL, almost mirror each other, as if manipulated by the same invisible hand.
With Binance's investigation and ongoing revelations from community users, this incident quickly became the weekend topic for everyone. A hidden interest chain gradually surfaced, with names like Web3Port, Whisper, and May Liu being thrust into the spotlight, revealing that the dark underbelly behind the collapse is more shocking than imagined…
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