SBF has been sentenced to serve a 25-year term

SBF has been sentenced to serve a 25-year term

March 29, 2024

I. Mainstream exchange news

  • ​​Brazilian exchange operator B3 to offer Bitcoin futures in April.
  • OKX elevates its US compliance department to the highest level.
  • Binance completes Stratis (STRAX) token swap and increment plan.
  • OKX releases its 17th POR, reporting that the combined reserve value of BTC, ETH, USDC, and USDT has reached $21.1 billion.
  • Bitget to launch the Launchpool project Dopamine (DOPE), while opening BGB and USDT reward pools.
  • Fjord Foundry gives details on the issuance, economics, and airdrop of the FJO token.
  • Glif, the liquidity staking protocol in the Filecoin ecosystem, initiates a points program, with points convertible into native tokens.
  • Wormhole to open airdrop claims on April 3rd.
  • Bitwise files for an Ethereum spot ETF at the US SEC.
  • SBF has been sentenced to serve a 25-year term in New York.
  • Circle announced that the native USDC will be released on the zkSync network.
  • Blockchain company Stratis secures a virtual asset service provider license in Spain.
  • DWF Labs' institutional-grade OTC trading platform launches FIDA, JUP, KAVA, YGG, and GAL.
  • MerlinSwap to distribute 2% of the supply of MP tokens in the second round of airdrops, totaling 420 million.

III. Funding news

  • Mirror World has raised several million dollars in Pre-A round funding and will launch a game public chain based on Solana.
  • Stablecoin project Midas has raised $8.75 million in Seed round funding.
  • Web3 AI company FLock has raised $6 million in Seed round funding, led by Lightspeed Faction and Tagus Capita.
  • The intention execution network dappOS has raised $15.3 million in Series A funding, led by Polychain.

IV. Regulatory news

The Nigerian government will begin hearing the Binance tax evasion case on April 4th, with arrested executives accusing the authorities of "violating human rights.”

Market overview

BTC has rebounded from its decline, oscillating in the range of $68,200-$71,700. As long as it has not dropped below the lower limit of $68,200, it's assumed that the latest adjustment has not yet begun. At present, the bulls need to break through and stabilize at the key resistance level of $71,700 for BTC to surge towards $75,000. On March 28th, BTC attempted a tentative rise to as high as around $71,700 but was quickly suppressed. From a mainstream market standpoint, the psychological breakpoint for traders seems to rest above $70,000. Applying a strategy of market oscillation to explore the superior and inferior resistance, as well as support levels, could be on the cards. The performance of some alternative coins is noticeably lagging behind BTC. If BTC's dominance continues to rise, it is very likely to kick off the next wave of rise.


As of March 28th, the total net inflow of BTC spot ETF reached $12.12 billion, with a single-day net inflow of $179 million and a single-day turnover of $3.7 billion. The ETF net assets accounted for 4.25% of the BTC market value, among which the main observations include: 

GBTC: Single-day net outflow of $104 million, a cumulative net outflow of $14.77 billion, single-day turnover of $750 million, and current net asset value of $23.64 billion; 

IBIT: Single-day net inflow of $95.12 million, cumulative net inflow of $12.51 billion, single-day turnover of $1.82 billion, current net assets of $17.83 billion;

FBTC: Single-day net inflow of $68.09 million, cumulative net inflow of $7.56 billion, single-day turnover of $6.87 billion, current net assets of $660 million;

After experiencing consecutive net outflows from March 18th to March 22nd, BTC spot ETF has seen a continuous net inflow for four days, corresponding to a 10%+ rebound in BTC price. The trend of BTC is becoming Americanized, mirroring the US stock market trend with significantly lower trading volume on weekends when there is no trading. In the long term, continued institutional involvement is favorable for the BTC price to break new highs.

ALEX soars 10% in the last 24 hours

ALEX is a dex (decentralized exchange) on BTC layer2, Stacks. On March 28th, the CTO of Alex tweeted that ALEX can now be traded on Uniswap, which expands its liquidity to the ETH ecosystem. This has greatly enhanced the token's tradability, with the ALEX token setting a new historical high of 0.47 USDT.

Parcl to launch tokens in the coming weeks

Parcl, a decentralized real estate investment platform built on Solana, tweeted on March 28th that it will launch its native token in the coming weeks. The total token supply is 1 billion, with an initial community distribution of 8%. Of this, 7.5% will be distributed to early adopters of the Parcl protocol and 0.5% to core members of the Parcl community. With the involvement of the Solana ecosystem and the RWA (Real-World Asset) concept, Parcl has garnered certain market attention.

BCH performs strongly recently

As the BTC halving nears, BCH takes the lead in price surging, stimulating a group of projects with halving & POW (Proof of Work) concepts such as LTC, DOGE, RVN, and XEC to strengthen overall. Currently, BCH and DOGE have taken the lead in price surging, showing strong momentum.

The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.

The content of this document has been translated into different languages and shared throughout different platforms. In case of any discrepancy or inconsistency between different posts caused by mistranslations, the English version on our official website shall prevail.

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