Morning Report | Strategy increased its holdings by 1,031 bitcoins last week; Katana Blockchain acquires IDEX; NYSE completes rule change to eliminate trading limits on crypto ETF options
Overview of Important Market Events on March 23整理：ChainCatcher
Important News:
- Katana Blockchain Acquires IDEX and Launches Perpetual Contract Platform Katana Perps
- NYSE Completes Rule Change to Remove Trading Limits on Crypto ETF Options
- SK Hynix Plans to Issue New Shares for US Listing via ADR, Expected to Raise 10 Trillion to 15 Trillion Won
- Kalshi Early Employees Plan to Raise $35 Million for Prediction Market Fund, Supported by Kalshi and Polymarket CEOs
- Strategy Spent $76.6 Million Last Week to Increase Holdings of 1,031 Bitcoins
- US SEC Submits Digital Asset and Fund Disclosure Rules to the White House, Proposes Innovative Exemption Mechanism
- Polymarket Updates Market Integrity Rules, Clearly Prohibiting Three Types of Insider Trading
What Important Events Happened in the Last 24 Hours?
According to ChainCatcher, as reported by Fortune, Kalshi early employee Adhi Rajaprabhakaran has established a fund named 5c(c) Capital, which is currently raising $35 million to invest in startups in the prediction market.
The fund's partner is Adhi Rajaprabhakaran, the second trader hired by Kalshi's market makers; the other partner is Noah Zingler-Sternig, former operations head at Kalshi.
Documents show that in addition to Kalshi CEO Tarek Mansour and Polymarket CEO Shayne Coplan, early supporters of the fund also include venture capital giant Marc Andreessen (investing through his fund Moneta Luna); Micky Malka, founder of fintech investment firm Ribbit Capital; and Kyle Samani, former managing partner at cryptocurrency venture capital firm Multicoin Capital.
According to ChainCatcher, as reported by Jinshi, US President Trump stated that Iran has agreed not to develop nuclear weapons. If the plan works, the Strait of Hormuz will soon be reopened. The Strait of Hormuz may be jointly controlled by me and the Ayatollah. Once an agreement is reached, oil prices will drop sharply. Perhaps we will find a leader in Iran like the one in Venezuela.
Trump also stated that he does not believe that the son of former Iranian Supreme Leader Khamenei is the current leader.
According to ChainCatcher, as reported by Bloomberg, the US Securities and Exchange Commission has submitted two proposed rules to the White House Office of Management and Budget, concerning the digital asset industry and information disclosure requirements for hedge funds and private equity funds. The digital asset proposal includes an "innovative exemption" mechanism that allows relevant companies to be exempt from registering as regulated entities such as brokers or exchanges for a certain period.
The other rule adjusts Form PF used for disclosing fund performance and risks. Additionally, SEC Chairman Paul Atkins previously postponed the effective date of the new Form PF regulations to October 1 and stated that he would explore ways to reduce disclosure burdens.
Strategy Spent $76.6 Million Last Week to Increase Holdings of 1,031 Bitcoins
According to ChainCatcher, in an official announcement from Strategy, the company has recently increased its holdings by 1,031 bitcoins, costing approximately $76.6 million, with an average price of about $74,326 per coin.
As of March 22, 2026, Strategy has accumulated a total of 762,099 bitcoins, with a total holding cost of approximately $57.69 billion, and an average purchase price of about $75,694 per coin.
BitMine Increased Holdings by 65,341 ETH Last Week, Total Holdings Reached 4.661 Million
According to ChainCatcher, as reported by PR Newswire, BitMine increased its holdings by 65,341 ETH last week, higher than the previous average increase of about 45,000 to 50,000 per week. As of now, its total Ethereum holdings have reached 4,660,903, accounting for approximately 3.86% of the total ETH supply, still the largest holder of Ethereum treasury in the world.
Currently, about 3,143,000 ETH has been staked, accounting for about 67% of its total holdings. In addition, its total reserves of cryptocurrency assets, cash, and related investments are valued at approximately $11 billion.
Zhao Changpeng: New Book Has Been Finalized, New English and Chinese Titles Confirmed
According to ChainCatcher, Zhao Changpeng posted on Binance Square stating, "The new book is finally finalized, I hope so. It should be published soon.
To avoid any potential leaks, the book titles are as follows:
English: Freedom of Money: A Memoir of Protecting Users, Resilience, and the Founding of Binance
Chinese: Binance Life: A Memoir of Luck, Resilience, and Protecting Users"
Electric Capital: 93% of Real-World Revenue Sources Have Not Entered DeFi
According to ChainCatcher, Electric Capital's latest research report reviewed 501 real-world revenue sources and found that only 34 of them have on-chain scales exceeding $50 million, mainly concentrated in US Treasury bonds, private credit, and corporate bonds. The remaining 93% are blocked by seven major barriers, including legal structures and entity integration issues.
The report pointed out that distribution channels are the biggest bottleneck, with only two of the 35 non-stablecoin RWAs with on-chain revenue having more than 2,000 holders, and the top assets are highly concentrated. For example, in BlackRock's BUIDL, the top ten holders control 98% of the supply.
According to ChainCatcher, as counted by crypto analyst Cipher (@CipherResearchx), at least 15 security attack incidents have occurred in the decentralized finance (DeFi) field, with total losses exceeding $137 million.
The loss amounts for each incident are as follows: Step Finance lost about $27.3 million, Truebit lost about $26.2 million, Resolv lost over $25 million, SwapNet lost about $13.4 million, YieldBlox lost about $10.97 million, SagaEVM lost about $7 million, Makina lost about $5 million, IoTeX lost about $4.4 million, Aperture Finance and Venus Protocol each lost about $3.7 million, CrossCurve lost about $2.8 million, Solv Protocol lost about $2.7 million, FOOMCASH lost about $2.3 million, Moonwell lost about $1.8 million, and TMX lost about $1.4 million.
NYSE Completes Rule Change to Remove Trading Limits on Crypto ETF Options
According to ChainCatcher, as reported by The Block, NYSE Arca and NYSE American have submitted a rule change to the SEC to remove the 25,000 contract position and exercise limits on spot Bitcoin and Ethereum ETF options.
The US Securities and Exchange Commission (SEC) waived the standard 30-day waiting period in these two documents, allowing the changes to take effect immediately after submission, marking that all major options exchanges in the US have completed this adjustment. The rule change covers 11 crypto ETF products, including BlackRock IBIT, Fidelity FBTC, ARK 21Shares ARKB, Grayscale Bitcoin and Ethereum Trusts, and Bitwise's Bitcoin and Ethereum ETFs. These products can now determine position limits according to the standard framework of each exchange, with large liquidity ETFs eligible for limits of 250,000 or higher.
This move helps institutional investors implement hedging strategies and basis trading more efficiently. In addition, the Nasdaq ISE exchange has submitted a proposal to increase the IBIT exclusive options position limit to 1 million contracts, which is currently under review by the US SEC. If approved, this proposal will bring IBIT's position size closer to that of the largest stock ETFs. The comment period for the related documents will end on April 13.
Polymarket Updates Market Integrity Rules, Clearly Prohibiting Three Types of Insider Trading
According to ChainCatcher, Polymarket announced today that it has updated its market integrity rules for its DeFi platform and the US exchange regulated by the Commodity Futures Trading Commission (CFTC). These rules have been incorporated into the DeFi platform's Terms of Use and Polymarket US Rules Manual, further strengthening Polymarket's requirements against insider trading and market manipulation, and reaffirming Polymarket's commitment to maintaining market quality and protecting user rights.
The updated rules clearly define three core prohibited insider trading behaviors:
Trading Using Stolen Confidential Information - Participants are prohibited from trading any contracts if they possess confidential information about the outcome or potential outcome of the underlying event and using that information would violate pre-existing trust or confidentiality obligations to others or entities.
Prohibition on Trading Using Illegal Insider Information - Participants are prohibited from trading using confidential information provided to them by others if that information was provided by someone who has pre-existing trust or confidentiality obligations to others, and the participant knows or has reason to know that the person providing that information would themselves be prohibited from trading on that information.
Trading by Those Who Can Influence Outcomes - Participants who have authority or influence sufficient to affect the outcome of the underlying event are prohibited from participating in any contract trading.
According to ChainCatcher, Fluid posted on platform X stating that the team has obtained a short-term loan sufficient to cover 100% of the bad debt currently in the agreement. These funds are committed by Lomashuk, cyberfund, weremeow, and the Fluid core team to ensure user fund safety.
ResolvLabs has confirmed it will cover all USR positions generated before the security incident occurred and will open necessary redemptions to close related debt positions. Additionally, several investors have expressed interest in purchasing FLUID from the treasury when additional funds are needed to further strengthen the protocol's backup support. Fluid's smart contracts are operating normally, all other markets are functioning normally, and the protocol's safeguards remain effective, although users may encounter temporary interest rate fluctuations during the liquidation period.
SIREN Whales May Control Up to 88.5% of the Supply, Control Likely by DWF Labs
According to ChainCatcher, monitoring by Yu Jin indicates that among the top 54 addresses holding SIREN tokens, except for the burn wallet and Binance Web3 wallet, the remaining 52 addresses are suspected to be owned by the same controlling party, with 48 of them being addresses that previously concentrated SIREN, and the other 4 addresses' SIREN can be traced back to purchases made between late June and early July last year. This controlling party holds a total of 644 million SIREN, accounting for 88.5% of the total supply, valued at $1.44 billion.
Yu Jin pointed out that the controlling party profits by holding almost all the spot supply and using contracts, which is the reason SIREN has increased 30 times in a month and a half. This controlling party is suspected to be DWF Labs, which publicly holds 3 million SIREN, and after transferring SIREN, there was a concentrated accumulation of 66.5% of the tokens the next day.
Grayscale Has Submitted HYPE ETF Related S-1 Application, Staking Function Not Currently Allowed
According to ChainCatcher, as reported by The Block, Grayscale has submitted an S-1 application to the US SEC, planning to launch the Grayscale HYPE ETF (ticker: GHYP), which aims to track the spot price of Hyperliquid (HYPE) tokens and intends to list on Nasdaq, with Coinbase Custody as the custodian.
The current document clearly states that the HYPE staking function is not currently provided, but leaves open the possibility of staking in the future if specific conditions are met.
According to ChainCatcher, in response to rumors that the Resolv Labs stablecoin security incident had a significant impact on Morpho, Morpho co-founder Paul Frambot clarified on platform X that the incident did affect USR and related assets (such as RPL) and impacted the lending market using them as collateral, but among about 500 Morpho Vaults with deposits exceeding $10,000, only about 15 vaults have significant exposure (over $10,000) to the related market, primarily positioned as high-risk strategies using long-tail collateral assets, while other vaults not involved in related exposure (including low-risk Prime Vaults) were not affected.
Paul Frambot advised users to continue to pay attention to communications and updates from Resolv Labs and related Curators for the latest developments on specific vault risk exposures.
Katana Blockchain Acquires IDEX and Launches Perpetual Contract Platform Katana Perps
According to ChainCatcher, as reported by The Block, Polygon-incubated DeFi Ethereum scaling chain Katana announced the acquisition of the decentralized exchange IDEX, established in 2017, with the transaction amount undisclosed.
IDEX will serve as the underlying infrastructure for the newly launched perpetual contract platform Katana Perps, which will integrate spot liquidity, routing, and derivatives trading into a single on-chain environment, supported by market makers GSR, Selini Capital, and Auros.
According to ChainCatcher, as reported by Korea Economic Daily, SK Hynix plans to issue new shares and list ADR (American Depositary Receipts) in the US, with an issuance scale of about 2.4% of the total share capital.
The funds raised will mainly be used to expand high-bandwidth memory (HBM) production capacity and promote the construction of a semiconductor cluster in Yongin to consolidate its leading position in the global AI semiconductor market. SK Group Chairman Choi Tae-won previously publicly stated at NVIDIA's GTC 2026 developer conference that they are advancing the ADR listing plan.
US Lawmakers Plan to Introduce Bipartisan Bill to Ban Prediction Markets Like Polymarket from Sports Predictions
According to ChainCatcher, as reported by The Wall Street Journal, US legislators will introduce a bipartisan bill to prohibit entities regulated by the Commodity Futures Trading Commission (CFTC), including prediction markets Kalshi and Polymarket, from listing contracts related to sports events.
Meme Popularity Rankings
According to the meme token tracking and analysis platform GMGN, as of March 24, 09:00,
The top five popular ETH tokens in the past 24 hours are: SHIB, LINK, PEPE, UNI, ONDO
The top five popular Solana tokens in the past 24 hours are: TROLL, Punch, Buttcoin, neet, Lobstar
The top five popular Base tokens in the past 24 hours are: PEPE, BASED, B3, SKYA, TOSHI
What Interesting Articles Are Worth Reading in the Last 24 Hours?
Electric Capital: Tracking 501 Revenue-Generating RWA Assets, We Discovered These Patterns
From private credit to GPU leasing, from catastrophe bonds to music royalties, the tokenizable assets are far richer than the market recognizes. However, the biggest challenge is not technology, but distribution—existing RWAs heavily rely on a few large deployers, and concentrated risks cannot be ignored. Controlling distribution channels may become an irreplaceable infrastructure for the distribution layer, representing the two most competitive entrepreneurial paths currently.
The Stablecoin Yield Battle: How It Has Stalled US Crypto Regulatory Legislation?
This legislation, supported by the president and aimed at establishing more comprehensive regulatory rules for the US cryptocurrency market, is nearing a political deadline at the congressional level. Meanwhile, the banking industry is pressuring lawmakers and regulators to prohibit stablecoin companies from offering yields similar to bank deposit interest.
This battle has become one of the most critical unresolved issues in Washington's crypto agenda. The focus of the controversy is whether dollar-pegged stablecoins should focus on payment and settlement functions or can increase their financial attributes to compete with bank accounts and money market funds.
The Senate's market structure bill, named the "CLARITY Act," has stalled due to the breakdown of negotiations surrounding the so-called "stablecoin yield."
Industry insiders and lobbyists indicate that if the bill is to have a realistic chance of passing before the election year's agenda tightens, late April to early May will be the actual window for advancing the bill.
What does the strategy look like for those who made ten million dollars on Polymarket?
Using Data API + on-chain data, we reverse-engineered the rankings of the top 20 in both sports and crypto tracks.
40 addresses, over 100,000 transactions, broken down one by one.
Not just looking at dashboard screenshots. It’s about restoring every buy, sell, and redemption into strategic behavior.
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