137 · Market Trends ✨ 3-19

Reviewing 24H Hotspots - Market Overview

1. Risk assets weakened post-FOMC: US stocks fell, #BTC briefly dropped below $71,000;

2. US SEC approves Nasdaq rule changes, launching a pilot for "tokenized securities trading/settlement";

3. The Federal Reserve's March FOMC remains unchanged; the dot plot points to a cumulative rate cut of 25bp in 2026, Powell emphasizes "no progress on inflation means no rate cuts";

4. Progress on the US crypto market structure bill "CLARITY Act": markup may occur in April, Senate aims to pass by year-end;

5. FTX Recovery Trust will conduct a new round (fourth) distribution on March 31, approximately $2.2 billion;

6. Hyperliquid "S&P 500 Perpetual" progress: S&P 500 authorized Trade[XYZ] to launch related perpetual products on Hyperliquid;

7. Fold discloses a net loss of $69.6 million for 2025, plans to expand customer acquisition with a Bitcoin credit card;

8. X (Twitter) product and governance updates: plans to launch "reply location restrictions" and Dislike, and internally test "private downvotes" for ranking.