137 · Market Trends ✨ 3-18

Overview of 24H Hotspots - Market Brief

1. The U.S. SEC and CFTC jointly released a 68-page cryptocurrency regulatory guideline: stating that "most digital assets are not securities," and providing classifications of tokens and conditions for "conversion to securities";

2. The Arizona Attorney General has filed criminal charges against the prediction market Kalshi: claiming it provides "illegal betting/gambling" within the state;

3. Bitrefill disclosed a cyberattack on March 1: the characteristics are highly similar to the North Korean Lazarus/Bluenoroff operations;

4. U.S. Democrats proposed the "BETS OFF Act": aiming to prohibit betting on events closely related to government actions, such as "war" in #predictionmarkets;

5. Recession and risk aversion signals: the probability of a U.S. recession in the next 12 months rises to 48.6%, with the speed of investors turning to cash being the fastest since COVID-19;

6. #美股 closed: S&P 500 +0.3%, Nasdaq +0.4%;

7. PayPal: expanding PYUSD stablecoin globally (reportedly covering 70 international markets), with a supply exceeding $4 billion;

8. On-chain share of stablecoins: as of February, Tron's share of total stablecoin trading volume dropped to 14.6%.

9. Hyperliquid: The scale of open contracts in the HIP-3 market reached $1.43 billion.