Daily Report | Ripple Agrees to Abandon Cross-Appeal; Fidelity Plans to Launch Stablecoin
March 26 News OverviewOrganizer: Vader, ChainCatcher
Important News:
- Cboe BZX Exchange has submitted an application to the U.S. SEC to list Fidelity Solana ETF
- Ripple agrees to drop cross-appeal; U.S. SEC will retain $50 million of the $125 million fine
- GameStop adds Bitcoin to its corporate reserve assets
- Crypto KOL BitBoy arrested by police for disorderly conduct
- Strategy CEO, CFO, and other executives buy newly issued preferred shares
- Zhao Changpeng: Will not attend Hong Kong Crypto Finance Forum
- U.S. SEC cryptocurrency working group to hold four new roundtable discussions on regulatory issues from April to June this year
- Market news: Fidelity plans to launch a stablecoin
"What important events happened in the past 24 hours"
Cboe BZX Exchange has submitted an application to the U.S. SEC to list Fidelity Solana ETF
According to documents disclosed by the U.S. Securities and Exchange Commission (SEC), Cboe BZX Exchange has submitted a Form 19b-4 application to the SEC, proposing to list and trade shares of the Fidelity Solana ETF under BZX Rule 14.11.
Ripple agrees to drop cross-appeal; U.S. SEC will retain $50 million of the $125 million fine
Ripple's Chief Legal Officer Stuart Alderoty stated, "Last week, the U.S. Securities and Exchange Commission (SEC) agreed to unconditionally drop its appeal. Ripple has now agreed to drop its cross-appeal. The SEC will retain $50 million of the $125 million fine (which has been deposited in an interest-bearing escrow account), and the remaining amount will be refunded to Ripple. The agency will also request the court to lift the standard injunction previously imposed at the SEC's request. All of this will require a commission vote, drafting of final documents, and standard court procedures."
GameStop adds Bitcoin to its corporate reserve assets
Game retailer GameStop has updated its investment policy to include Bitcoin in its corporate reserve assets. The document states, "The company's investment policy allows for investments in certain cryptocurrency assets, including Bitcoin and U.S. dollar stablecoins. If the company acquires Bitcoin or U.S. dollar stablecoins, it will face specific risks associated with Bitcoin or stablecoins, as well as the ability to maintain effective internal financial reporting controls."
Crypto KOL BitBoy arrested by police for disorderly conduct
Famous crypto KOL Ben Armstrong (BitBoy) was arrested by police today after a confrontation with staff at a Popeyes restaurant. Video from the scene shows him agitated and confronting staff, with the specific reason for the conflict yet to be disclosed by the police. As a KOL with millions of followers, this incident has sparked widespread discussion in the crypto community.
Strategy CEO, CFO, and other executives buy newly issued preferred shares
According to Barron's, three Strategy executives took advantage of the company's recent preferred stock issuance opportunity to scoop up shares priced low with a yield close to 12%.
According to documents disclosed by the U.S. Securities and Exchange Commission, several insiders from Strategy (formerly MicroStrategy) purchased its newly launched preferred shares, including the CEO, CFO, and other executives. CEO Phong Le purchased 6,000 preferred shares at $85 each, CFO Andrew Kang bought 1,500 shares, and General Counsel Wei-Ming Shao purchased 500 shares.
Strategy previously announced it would issue 5 million Series A Perpetual Preferred Stock with a par value of $100 per share, which would raise $500 million in incremental funding to implement its Bitcoin strategy, but later increased the issuance to 8.5 million shares, with the price per share also lowered to $85.
Zhao Changpeng: Will not attend Hong Kong Crypto Finance Forum
Binance founder Zhao Changpeng stated in a tweet announcing his attendance at the Hong Kong Crypto Finance Forum that a communication error may have led to the misunderstanding, but he will not attend the event.
According to the SEC's official website, the U.S. Securities and Exchange Commission (SEC) cryptocurrency working group announced it will hold four new roundtable discussions from April to June 2025, covering topics such as crypto trading, custody, asset tokenization, and DeFi. The four public roundtable meetings will be held on the following dates and topics: April 11 "Regulation Tailored for Crypto Trading," April 25 "Key Issues for Custodians," May 12 "Asset Tokenization and Integration with Traditional Finance," and June 6 "DeFi and the American Spirit."
Commissioner Hester Peirce called this "a spring sprint towards clarity in crypto," marking a new direction for the SEC from enforcement to collaboration and clear regulatory frameworks. The meetings will be open to the public and streamed online.
Market news: Fidelity plans to launch a stablecoin
According to market news, Fidelity plans to launch a stablecoin to promote and support the development of the digital asset industry, with specific details yet to be disclosed.
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Meme Hot List
According to the meme token tracking and analysis platform GMGN, as of March 26, 19:50:
The top five trending Ethereum tokens in the past 24 hours are: DOPE, KEKIUS2, SHIB, TALK, EIC
The top five trending Solana tokens in the past 24 hours are: abpepe, Ansem, RXL, AGIXT, Fartcoin
The top five trending Base tokens in the past 24 hours are: SIGMAI, TIMI, AMC, CHIRP, Puppy
