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

SpaceX plans to file for an IPO as early as this week, aiming to raise more than $75 billion.

According to a report by Cailian Press, a source familiar with the matter revealed that SpaceX plans to file its initial public offering (IPO) prospectus with regulators later this week or next week. This confidential filing will formally finalize the IPO plans of Elon Musk's rocket and communications company, aiming for a June listing. This IPO will test investor enthusiasm for what is expected to be the largest IPO in U.S. history, far exceeding previous ones. The source stated that advisors involved in the preparations anticipate the company may raise over $75 billion in the IPO, higher than the previously reported $50 billion estimate. The company's latest valuation is $1.25 trillion, and the actual fundraising size and valuation will be finalized several weeks before the IPO.

Two wallets linked to Bitmine withdrew a total of 67,111 ETH from Kraken, worth nearly $145 million.

According to Onchain Lens monitoring, in the past 3 hours, two newly created wallets withdrew 67,111 ETH from Kraken, worth $144.73 million, which may be related to Bitmine.

SlowMist: LiteLLM suffers PyPI supply chain attack; implanted malicious files can steal sensitive information such as encrypted wallets.

23pds, Chief Information Security Officer of SlowMist Technology, posted on the X platform: "LiteLLM, which has been downloaded 97 million times per month, has been attacked by the PyPI supply chain: sensitive information can be stolen by pip install litellm, including SSH keys, cloud credentials (AWS/GCP/Azure), Kubernetes configuration, Git credentials, environment variables (API keys), shell history, encrypted wallets and database passwords, etc."

BlackRock: AI is a key driver of the future of the crypto market, and institutions are increasingly focusing on Bitcoin and Ethereum.

According to CoinDesk, Robbie Mitchnick, head of digital assets at BlackRock, stated that institutional investors are increasingly focusing on Bitcoin and Ethereum, believing that most other tokens have short lifecycles and lack long-term value. He pointed out that artificial intelligence is a more important long-term driver than the expansion of new tokens, and that crypto, as a "computer-native currency," has a natural symbiotic relationship with AI's "computer-native data and intelligence." Mitchnick stated that clients have shifted from broadly allocating small assets to focusing on a few key assets, with Bitcoin and Ethereum dominating allocations and limited interest in other tokens. He also noted that Bitcoin miners are turning to AI-related computing businesses, seeking more stable revenue streams, and that Bitcoin can serve as a diversification option in the AI-driven transformation.

Lido's revenue fell 23% last year, with declining user withdrawals and lower yields dragging down its performance.

According to The Block, Ethereum staking protocol Lido released its annual report, stating that its total revenue in 2025 was $40.5 million, a 23% decrease year-over-year. The revenue decline was primarily due to net staking outflows caused by user withdrawals and a decrease in the annualized staking yield across the network. Lido stated that its core Simple LST segment has been shrinking since 2024, with funds shifting to exchange staking, low-risk institutional staking, and liquidity staking re-staking. Lido is exploring an LDO token buyback program, planned to launch in the second quarter of this year, intending to use protocol-generated staking rewards to purchase LDO from the open market and deploy it to the LDO/wstETH liquidity position held by the DAO. Last August, Lido laid off 15% of its staff to "ensure long-term sustainability."

Coinbase adds Checkmate (CHECK) and Sign (SIGN) to its listing roadmap

According to an official announcement, Coinbase has added Checkmate (CHECK) and Sign (SIGN) to its listing roadmap. The listing of these assets still depends on the availability of market-making support and technical infrastructure. The specific listing time will be announced separately once the relevant conditions are met.

Coinbase will list Perle (PRL)

According to an official announcement, Coinbase will add support for Perle (PRL). Users can now generate PRL deposit addresses on coinbase.com, the Coinbase App, and Coinbase Exchange. PRL deposit functionality will be available once the PRL issuer allows transfers.

OpenAI will discontinue its Sora AI video generation service and streamline its product line.

According to Jiemian News, OpenAI plans to discontinue its Sora standalone app, six months after its high-profile launch, to streamline its AI product line. The company launched the Sora app in late September last year, promising users easier access to and sharing of realistic AI videos on quasi-social networks. The free app quickly topped the Apple App Store charts, but its ranking has since declined. In addition to shutting down the standalone app, OpenAI will also disable Sora's application programming interface (API) for developers.

Robinhood has authorized a $1.5 billion stock buyback program, which is expected to be implemented over approximately three years.

According to Bloomberg, Robinhood Markets announced it has authorized a share buyback program of up to $1.5 billion to capitalize on the current stock price downturn. The company's stock price has fallen 39% since 2026, after more than tripling in 2025. Robinhood CFO Shiv Verma stated that this authorization reflects management and the board's confidence in the company's ability to continue delivering innovative products and creating value for shareholders. The buyback program has no expiration date and is expected to run over approximately three years.

OpenAI announced it will raise an additional $10 billion, bringing its total pre-IPO funding to over $120 billion.

According to Global Markets, OpenAI CFO Sarah Friar revealed in an interview that OpenAI is raising an additional $10 billion from investors as part of its historic funding round. Friar stated that this new funding brings OpenAI's total funding in this round to "over $120 billion," far exceeding the $110 billion announced last month. OpenAI announced its first funding round at the end of February, which is considered its last private funding round before a possible initial public offering (IPO). According to Friar, Andreessen Horowitz, DE. Shaw Ventures, MGX, TPG, and T. Rowe Price participated in this new $10 billion funding round.

The US plans a one-month ceasefire, and 15 proposals to end the conflict with Iran have been revealed.

According to a report by CCTV cited by Jinshi, the US government, through Pakistan, has proposed a 15-condition end-of-conflict plan to Iran, covering its nuclear program, missile capabilities, and regional issues. The main US demands reportedly include: dismantling existing nuclear capabilities, a commitment not to develop nuclear weapons, a ban on uranium enrichment on its territory, the transfer of approximately 60% of its highly enriched uranium stockpile, the dismantling of nuclear facilities in Natanz, Isfahan, and Fordow, and allowing full inspections by the International Atomic Energy Agency (IAEA). Simultaneously, the US also demands that Iran cease supporting regional allies' armed groups, prohibit providing them with funding, command, and weapons support, limit the scale and range of its ballistic missile program to defensive purposes only, and ensure the Strait of Hormuz remains open. In exchange, Iran may receive a complete lifting of international sanctions, US support for its civilian nuclear program, and the cancellation of the "snapback" sanctions mechanism.

Binance Futures will launch perpetual contracts for Meta, NVIDIA, and Alphabet stocks at the U-basis.

According to the official announcement, Binance Futures will launch perpetual contracts at the following times: March 26, 2026, 22:30 (UTC+8): METAUSDT stock perpetual contract, underlying stock Meta, with a maximum leverage of 10x; March 26, 2026, 22:40 (UTC+8): NVDAUSDT stock perpetual contract, underlying stock NVIDIA, with a maximum leverage of 10x; March 26, 2026, 22:50 (UTC+8): GOOGLUSDT stock perpetual contract, underlying stock Alphabet, with a maximum leverage of 10x.

Coinbase will launch the Impossible Cloud Network spot trading pair ICNT-USD.

According to Coinbase Markets, Impossible Cloud Network (ICNT) will be listed on the Coinbase spot market on March 25. The ICNT-USD trading pair is scheduled to open at or after 9:00 AM Pacific Time, provided liquidity conditions are met. ICNT will be available for trading on coinbase.com, the Coinbase App, and Coinbase Advanced, with institutional clients able to access it through Coinbase Exchange.

ZachXBT raises questions about Circle freezing 16 USDC business hot wallets.

According to ZachXBT, Circle froze USDC balances in 16 crypto hot wallets the previous evening, allegedly due to a US civil case whose details have not yet been disclosed. ZachXBT stated that these addresses appear to belong to wallets operated by exchanges, casinos, and forex platforms, with no apparent connection between them, and this action has already impacted the operations of these businesses.

One address opened a long position of 5757.57 GOLD with 25x leverage, with a position value of approximately $25.41 million.

According to Onchain Lens, a newly created wallet used 25x leverage to open a long position in $GOLD, holding 5,757.57 GOLD, with a nominal position value of approximately $25.41 million.

High Stakes Capital liquidated its entire HYPE holdings, selling over 600,000 HYPE tokens within 24 hours and cashing out nearly $22.94 million.

According to Onchain Lens, the on-chain address High Stakes Capital sold a total of 602,421 HYPE tokens in the past 24 hours, receiving approximately 22.938 million USDC, with an average transaction price of $38.08. The latest transaction involved the sale of the remaining 152,421 HYPE tokens, realizing approximately $5.82 million and clearing out its entire position.

Hardware wallet company Ledger completes $50 million secondary equity sale; no specific IPO plans at present.

According to Bloomberg, Paris-based crypto hardware wallet company Ledger has completed a $50 million secondary equity sale, led by CEO Pascal Gauthier. The transaction, completed in the fourth quarter of last year, involved early investors and the valuation was not disclosed. Gauthier stated that the company currently has no urgent plans for an IPO but will prepare for either remaining private or going public in the future. Previously, it was reported that Ledger had been in talks with investment banks regarding a US IPO, with a valuation exceeding $4 billion. The company raised €100 million in 2023, valuing the company at €1.3 billion, and is currently upgrading its application wallet, Ledger Wallet, aiming to double its revenue this year.

The US CFTC has established an Innovation Task Force to focus on the regulation of crypto and prediction markets.

Commodity Futures Trading Commission (CFTC) Chairman Michael S. Selig announced the formation of an "Innovation Task Force" dedicated to developing a clear regulatory framework for new products and technologies in the U.S. derivatives market. The task force will collaborate with the Innovation Advisory Committee, focusing on rule recommendations in areas such as crypto-assets and blockchain technology, artificial intelligence and autonomous systems, and prediction markets and event contracts. It will also coordinate with federal agencies, including the Securities and Exchange Commission (SEC) and its Crypto Task Force, to advance related innovation agendas. The task force will be led by Michael J. Passalacqua, Senior Advisor to the Chairman.

ZachXBT: Russian off-exchange broker Aleks helped a ransomware gang launder over $4.7 million.

On-chain analyst ZachXBT reported that Russian OTC intermediary Aleksandr Khinkis (Aleks) is accused of assisting a ransomware group in laundering money since July 2025 through a single cryptocurrency exchange account. The funds allegedly originated from three ransom payments totaling 796 BTC, equivalent to over $4.7 million. On-chain forensics show that some of the Bitcoin was transferred to Avalanche via a cross-chain bridge, then split into approximately 75 transfers to its exchange deposit address 0xa756…06e. An additional $16.6 million in related funds remains held in these addresses or on these platforms. ZachXBT stated that he has provided leads regarding these addresses and fund flows to compliance and law enforcement agencies.

Bitcoin spot ETFs saw net inflows of approximately $2.5 billion this month, with IBIT ranking among the top 2% of ETFs.

According to Bloomberg analyst Eric Balchunas, Bitcoin spot ETFs have seen net inflows of approximately $2.5 billion this month, nearly offsetting the year-to-date outflows. BlackRock's IBIT has completely reversed its year-to-date net outflows and is now among the top 2% of all ETFs in terms of year-to-date inflows. Balchunas points out that despite Bitcoin's price correction of approximately 40% over the past six months and the presence of concentrated negative media coverage, these ETFs have demonstrated strong resilience. In contrast, gold experienced a similar decline about 10 years ago, during which approximately one-third of its holders redeemed their shares.

The official Chinese name for Token is "词元" (cí yuán).

At the China Development Forum 2026, Liu Liehong, Director of the National Data Administration, stated that the term "token" has been officially designated as a value anchor for the intelligent era and a "settlement unit" connecting technology supply and business demand, providing a quantifiable basis for the implementation of business models. This also provides an official translation for "token": "token."

The Financial Stability Board warns that dollar-denominated stablecoins exacerbate financial risks in emerging economies.

The Financial Stability Board (FSB), in its 2025 annual report, stated that cross-border circulation of dollar-denominated stablecoins poses a “more acute” financial stability and macroeconomic risk to emerging market and developing economies. The FSB noted that such stablecoins could lead to the substitution of local currencies, weaken the use of domestic payment systems, reduce the effectiveness of monetary policy, increase fiscal pressures, and be used to circumvent capital flow control measures. The FSB stated that it is necessary to continuously assess the development of the stablecoin sector, focusing on its vulnerabilities in liquidity, operational risks, and linkages with traditional financial systems, and to promote the implementation of the global stablecoin regulatory framework introduced in 2023, which still has implementation gaps.

Polymarket has launched a commission rebate program, offering up to 30% back on trading fees.

Polymarket has announced a commission rebate program, offering participants up to 30% back on their transaction fees.

The NYSE and Securitize are partnering to develop a tokenized securities platform.

According to The Wall Street Journal, the New York Stock Exchange (NYSE) is partnering with Securitize, a platform for tokenized assets, to develop a tokenized securities platform.

Invesco acquires $900 million on-chain fund from Superstate, entering the tokenized government bond market.

According to CoinDesk, Invesco, with $2.2 trillion in assets under management, will take over Superstate's approximately $900 million tokenized US Treasury bond fund, USTB, officially entering the tokenized fund market. The fund holds short-duration US Treasury bonds and will be renamed "Invesco Short Duration US Government Securities Fund," maintaining the USTB code and token structure. The transition is expected to be completed in the second quarter of 2026. Superstate will continue to handle the trading technology and on-chain infrastructure, including token issuance, on-chain settlement, and the digital registration system, while Invesco's global liquidity team will handle day-to-day investment management.

Market news: The Philippines declares a national energy emergency.

Market news: The Philippines has declared a national energy emergency.

OpenAI launches ChatGPT document library feature, rolling it out to Plus, Pro, and Business users.

According to an OpenAI announcement, ChatGPT has added a new file management feature. Users can quickly access recently uploaded files via the toolbar, directly inquire about uploaded content, and browse and reuse files uniformly in the new Library tab in the webpage sidebar. This feature is being rolled out globally to Plus, Pro, and Business users, with the European Economic Area, Switzerland, and the UK launching later.

Iran has reportedly presented the United States with five conditions for a ceasefire, but officials deny that negotiations are underway.

According to Solid Intel, Iran has put forward five conditions for a ceasefire with the United States, including closing all US military bases in the Persian Gulf, paying full compensation for damaged Iranian infrastructure, recognizing Iran's control over the Strait of Hormuz, removing all secondary sanctions, and guaranteeing non-interference in Iran's internal affairs. Meanwhile, Tehran denies that it is currently conducting any negotiations with the United States, although the US has previously claimed that dialogue is taking place.