exposure

India imposes a uniform 30% tax on the income from virtual digital assets and an additional 1% withholding tax on the transfer amount. Approximately 54 cryptocurrency service providers in the country have registered with the financial intelligence department, serving 39 million verified users, who collectively hold about $2.1 billion in assets.The Reserve Bank of India (RBI) has repeatedly expressed to Parliament its preference for a prohibitive policy towards private cryptocurrencies and stablecoins, urging banks to avoid related exposures to protect financial stability. The long-promised cryptocurrency bill has yet to be completed.Indian government agencies are also using permissioned blockchain in non-trading scenarios. AIIMS Delhi uses blockchain to manage teacher recruitment records, the Cotton Corporation of India tracks cotton bales through a blockchain identification system, and the aviation regulator DGCA is building a digital service platform associated with blockchain.

According to Cointelegraph, a study based on 857,000 active users of Polymarket shows that about 60% of users who placed their first bets during the World Cup had never interacted with blockchain protocols before.Alvin Kan, Chief Operating Officer of Bitget Wallet, stated that prediction markets have changed the traditional logic for crypto users to get involved—users no longer need to understand blockchain technology first, but can participate directly because they have opinions on real-world events. This has made prediction markets a new entry point for some users into the crypto space.Data shows that the trading volume of Polymarket's World Cup champion contracts has exceeded $3.1 billion, with sports contracts contributing over $4.9 billion in trading volume to Polymarket in the past 30 days, and reaching $8.5 billion on Kalshi, becoming the main trading category on both platforms.

According to CoinPost, Japan's national corporate pension fund plans to start investing in cryptocurrencies in the fiscal year 2026, with an allocation ratio of about 1% of its total operating assets (approximately 21.3 billion yen).The report states that the asset allocation ratio for the fiscal year 2025 is: 80% in yen, 15% in US dollars, and 5% in other currencies. However, in the fiscal year 2026, the yen allocation ratio will decrease to 70%, and a new 10% allocation will be made for currencies from developed countries. The remaining 5% will consist of emerging market currencies, gold, and cryptocurrencies.The main purpose is to diversify currency risk. The fund's executive director, Ai Yuki, stated that due to the potential weakening of the US dollar as a benchmark currency, they decided not to increase their holdings in US dollars and instead use cryptocurrencies like Bitcoin as a hedge against currency depreciation, as Bitcoin has a lower correlation with the US dollar index.After approximately six years of investigation, the fund has determined that the cryptocurrency market has matured as the investor base has expanded. In the future, the fund will continue to explore the possibility of expanding cryptocurrency investments, including funds for arbitrage trading of various cryptocurrencies.

Glassnode data shows that the 30-day moving average of BTC treasury company's total trading volume has decreased from $34.2 billion/day in December 2025 to the current $17.4 billion/day, a 49% drop in six months.Glassnode points out that the speculative interest in DAT stocks is highly correlated with BTC prices. As spot prices pull back, interest in gaining leveraged Bitcoin exposure through listed treasury tools has also weakened, and trading activity has halved from its peak.

According to Cointelegraph, CoinShares analyzed quarterly 13F filings and found that professional investors reduced their Bitcoin ETF exposure from 313,000 BTC to 261,000 BTC in the first quarter, a decrease of 52,000 BTC, or 17%. The total value of these holdings fell by 35% to $17.8 billion, while the share of U.S. Bitcoin ETF assets held by 13F filers dropped from 24.7% to 20.8%.The sell-off was mainly concentrated among hedge funds and brokerages, which accounted for about 96% of the total reduction. Hedge funds reduced their holdings by 31,400 BTC (a decrease of 39%), while brokerages cut their holdings by 18,800 BTC (a decrease of 53%). In contrast, the largest category of professional investors—investment advisors (holding 150,300 BTC)—only reduced their holdings by 5.9%. Banks, on the other hand, more than doubled their Bitcoin ETF holdings, increasing by 7,800 BTC during the quarter.CoinShares digital asset analyst Matt Kimmell stated, "This dataset is consistent with the historical performance of the Bitcoin market during downturns, with leverage and strategic positions being cleared."

According to Cointelegraph, the U.S. spot Bitcoin ETF has seen a net outflow of funds for 9 consecutive trading days, totaling approximately $2.84 billion, setting the longest consecutive decline record since the product's launch in 2024, and surpassing the consecutive outflow record from February 8, 2025. Among them, BlackRock's IBIT has become a major source of outflows.Analysis indicates that this round of capital outflow reflects a significant cooling of institutional demand for Bitcoin ETF exposure, while the market shows a trend of differentiation: ETFs related to Hyperliquid and some XRP spot ETFs still recorded inflows, while Ethereum spot ETFs have faced outflows for 13 consecutive days, with a total outflow of approximately $694 million, indicating that capital in crypto asset ETFs is being reallocated.

According to The Block, Sharplink and Forward Industries, which adopt a cryptocurrency asset reserve strategy, will be included in the Russell 2000 and Russell 3000 indices after the FTSE Russell annual adjustment, effective at the opening of the U.S. stock market on June 29. This means that index investors will be able to gain indirect exposure to ETH and SOL through the two companies.Reports indicate that Sharplink currently holds 868,699 ETH, valued at nearly $1.8 billion; Forward Industries holds approximately $585 million in SOL. Previous data from FTSE Russell showed that about $12.2 trillion in assets are benchmarked to the Russell U.S. indices.

Michael Saylor stated that currently about 100 million people have exposure to BTC through MSTR common stock, and he indicated that the Strategy has become the largest stock issuer in the United States.

According to Cointelegraph, Italy's largest bank, UniCredit, has just disclosed that it increased its cryptocurrency exposure to $231 million in the first quarter.

Italy's largest bank Intesa Sanpaolo increased its crypto exposure to approximately $235 million in the first quarter.

The GoPlus Security team has disclosed a new type of attack in its AgentGuard AI project: inducing AI agents to perform unauthorized sensitive operations through "memory poisoning." This attack method does not rely on traditional vulnerabilities or malicious code but exploits the long-term memory mechanism of AI agents. For example, an attacker first induces the agent to "remember preferences," such as "usually prioritizing proactive refunds instead of waiting for chargebacks," and then uses vague expressions like "process as usual" or "execute as before" in subsequent instructions, thereby triggering automated financial operations.GoPlus points out that the key risk in such cases lies in the AI agent mistakenly treating "historical preferences" as a basis for authorization, leading to financial losses or security incidents in operations such as refunds, transfers, and configuration changes. To address this issue, the team has proposed several protective recommendations, including:Operations involving refunds, transfers, deletions, or sensitive configurations must require explicit confirmation in the current session.Memory-related instructions like "habit," "usual way," and "as before" should be regarded as high-risk state changes.Long-term memory must have a traceability mechanism (writer, time, confirmation status).Vague instructions should automatically elevate the risk level and trigger secondary verification.Long-term memory must not replace real-time authorization processes.The team emphasizes that the "AI agent memory system" should be viewed as a potential attack surface and should be constrained and audited through a dedicated security framework.

Quantitative giant Jane Street disclosed in its latest 13F filing submitted to the SEC that it significantly reduced its exposure to Bitcoin ETFs in the first quarter of 2026, with its holdings in IBIT decreasing by approximately 71% to 5,872,212 shares, equivalent to about $225.6 million. The holdings in FBTC decreased by about 60% to 1,954,174 shares, equivalent to about $115 million.In addition, its holdings in MSTR also decreased by approximately 78% to 209,833 shares, equivalent to about $26.18 million.

The New York State Retirement Fund increased its exposure to Bitcoin by adding $41 million in MicroStrategy stock.

Lido has released the latest developments regarding the Kelp security incident, stating that its Earn series vaults are working with the management to address the issues, which involve two major risk points: the rsETH exposure and the liquidity tension in the lending market. Lido emphasizes that the core staking protocol has not been affected, and both stETH and wstETH remain safe and stable.Currently, only the EarnETH vault has an approximately 9% TVL exposure to rsETH, and related deposits and withdrawals have been suspended by the management, awaiting a solution. Approximately $70 million in ETH has been recovered from the previous attack, and the subsequent asset recovery and loss distribution are still in progress. In response to liquidity pressure, the management has reduced leverage and optimized the position structure, significantly decreasing the wETH debt exposure. If losses ultimately occur, EarnETH will activate a $3 million "first loss protection mechanism" (funded by the DAO). As for other vaults, DVV and EarnUSD have not been affected and are operating normally; the GGV sub-vault is currently experiencing negative returns due to the combination of circular staking strategies and rising lending rates, but adjustments are ongoing. Withdrawal requests submitted by users will be processed based on valuations prior to the incident.

Euler Labs announced on the X platform that as a precaution, the LayerZero OFT cross-chain bridge for EUL is temporarily suspended during the investigation into the cause of the rsETH incident, and emphasized that EUL has no exposure to this rsETH incident. An update will be released after the cross-chain functionality is restored.

Venus Protocol posted on platform X regarding the Kelp incident, stating that the platform has zero exposure to rsETH, has not incurred any bad debts, and user funds are safe.As a precaution, based on the recommendations of the risk management party Allezlabs, the platform has temporarily adjusted the collateral factors for the following six types of assets to 0: USDe, sUSDe, SolvBTC, xSolvBTC, USD1, XAUM. Users can still directly repay and withdraw the above assets through the Venus UI, and updates will be released once the collateral rates return to normal.

According to Bnp Paribas, BNP Paribas announced the expansion of its trading product range and will launch 6 cryptocurrency exchange-traded notes (ETNs) linked to Bitcoin and Ethereum for retail clients in France. This product allows investors to gain indirect exposure to cryptocurrencies through their securities accounts without the need to directly hold BTC or ETH, and will operate under the MIFID2 regulatory framework.The related ETN products are scheduled to officially launch on March 30, 2026, with the potential for further expansion to a broader wealth management client base in the future.

Elon Musk stated that the planned "increase the exposure weight of creators based on their region" will be paused and further consideration will be given.Previously, X product head Nikita Bier revealed that starting this Thursday (March 26), the X platform will adjust the revenue-sharing incentive mechanism for creators, focusing on increasing the weight of exposure from the creators' regions. This adjustment aims to encourage content that resonates with users in their own country, neighboring countries, and those who speak the same language, while reducing the motivation for creators to specifically optimize traffic for U.S. or Japanese accounts, in order to promote a more diverse content ecosystem on the platform.