PA Daily News | US SEC approves Nasdaq tokenized stock trading pilot; Algorand Foundation announces 25% layoffs

Today's top news highlights:

The Federal Reserve announced that it would keep interest rates unchanged, in line with market expectations.

The US SEC has approved Nasdaq's pilot program for tokenized stock trading.

Crypto.com CEO announced a 12% workforce reduction, stating the company needs to fully integrate AI to remain competitive.

Kraken's parent company halts multi-billion dollar IPO plans.

S&P launches its first officially licensed S&P 500 perpetual contract on Hyperliquid.

Xiaomi releases large-scale MiMo-V2-Pro model

Binance: Users with 240 Alpha Points can claim an IN or BLUAI airdrop.

Tempo launches mainnet and releases machine payment protocol

Regulation & Macro

The People's Bank of China: Firmly committed to maintaining the stable operation of financial markets such as stocks, bonds, and foreign exchange.

The Party Committee of the People's Bank of China held an enlarged meeting. The meeting emphasized the need to actively and prudently resolve financial risks in key areas. It stressed maintaining a dynamic balance between economic growth, economic restructuring, and financial risk prevention at the macro level. The meeting called for continued efforts to resolve the debt risks of financial support platforms. It stressed adhering to market-oriented and rule-of-law principles in the prudent handling of risks in small and medium-sized financial institutions. The meeting emphasized fully leveraging the central bank's macro-prudential management and financial stability maintenance functions, and resolutely safeguarding the smooth operation of the stock, bond, and foreign exchange markets. The meeting also discussed studying the establishment of a liquidity support mechanism for non-bank financial institutions under specific circumstances. Finally, the meeting reiterated the commitment to working with relevant departments to continue a high-pressure crackdown on illegal financial activities.

The Bank of Japan kept its interest rates unchanged as expected.

The Bank of Japan kept its benchmark interest rate unchanged at 0.75%, in line with market expectations, marking the second consecutive meeting where it held the rate steady.

The Federal Reserve announced that it would keep interest rates unchanged, in line with market expectations.

According to CCTV News, the Federal Reserve announced on the 18th that it would maintain the target range for the federal funds rate at 3.5% to 3.75%. This decision was in line with market expectations. The Fed stated that the impact of developments in the Middle East on the US economy remains uncertain. The Fed said that in deciding whether and when to adjust interest rates in the future, the committee will comprehensively assess the latest economic data, changes in the economic outlook, and the balance of risks.

The Federal Reserve maintains its expectation of one rate cut in 2026.

Kenya seeks public comment on draft regulations governing cryptocurrency licenses.

Kenya's Ministry of Finance has released the "Virtual Asset Service Providers Regulation (Draft) 2026," soliciting public comments until April 10th on the regulatory framework and entry requirements for crypto and digital asset businesses. National hearings have been held since March 30th. This regulation is based on the previously enacted "Virtual Asset Service Providers Act," with the Central Bank of Kenya (CBK) responsible for regulating stablecoins and payment-related institutions, and the Capital Markets Authority (CMA) responsible for exchanges, brokers, and tokenization platforms. Previously, Kenya had changed its 3% digital asset tax on crypto transactions to a 10% consumption tax on service fees. On-chain data indicates that between July 2024 and June 2025, Kenya saw approximately $19 billion in crypto inflows, with over 6 million users.

The US SEC has approved Nasdaq's pilot program for tokenized stock trading.

According to The Block, the U.S. Securities and Exchange Commission (SEC) has approved a rule change for Nasdaq to allow it to support tokenized stock trading. According to the approval documents, eligible participants can settle trades in tokenized form through a pilot program operated by a depository trust company. Tokenized stocks will share the same order book and execution priority as traditional stocks and must provide shareholders with the same rights and privileges as conventionally traded stocks. This move is the latest example of the convergence of traditional finance and cryptocurrency, marking a significant step towards putting market infrastructure on-chain. Previously, most tokenized stocks were only available to non-U.S. users. The SEC chairman stated that public comments will be solicited in the coming weeks on rule development, including a proposed innovation exemption. The pilot period has not yet been announced.

Project Updates

Crypto.com CEO announced a 12% workforce reduction, stating the company needs to fully integrate AI to remain competitive.

Crypto.com CEO Kris Marszalek posted on the X platform: “We are joining the ranks of companies integrating AI across the entire enterprise. Companies that fail to make this transition immediately will fail. Companies that are slow to act will be left behind. Companies that act immediately and combine the best AI tools with top talent will achieve unprecedented scale and precision. This is the path we must take. As part of this step, we have also selectively eliminated approximately 12% of positions that were not a good fit for the new environment. All affected team members have been notified and are receiving resources to support their transition. We deeply appreciate the contributions of our departing colleagues. This new foundation will lay the groundwork for our continued success.”

The front-end of the DeFi protocol Neutrl appears to have been attacked. The official team has advised users to suspend interaction and revoke authorization.

DeFi protocol Neutrl announced on the X platform that its front-end has been suspected of being attacked, and the team is urgently investigating. For security reasons, the official team advises users not to interact with the website until further updates are released. Neutrl also reminds users to go to Revoke.cash as soon as possible to revoke Permit2 authorizations for the relevant addresses, and advises users to also check and revoke authorizations for other suspicious addresses to reduce potential asset risks.

A GitHub phishing campaign targeting OpenClaw developers used fake airdrops to steal funds from cryptocurrency wallets.

According to Decrypt, security platform OX Security has disclosed that developers of the AI ​​agent project OpenClaw are being targeted by cryptocurrency phishing campaigns. Attackers created fake GitHub accounts, started issues in attacker-controlled repositories, and tagged dozens of developers, claiming they had won a $5,000 CLAW token reward, before directing them to a clone website that is almost identical to openclaw.ai. This phishing website has an additional "Connect Wallet" button designed to steal assets from connected wallets.

The malicious code was hidden in a deeply obfuscated JavaScript file, featuring a "nuke" function that clears browser local storage data to hinder forensic analysis. It also encoded information such as wallet addresses and transaction values ​​before sending them back to a C2 server. Researchers identified a suspected encrypted wallet address used to receive the stolen funds. The account was created last week and deleted within hours; no victims have been confirmed yet. OpenClaw, due to its high profile, has become a target for scammers, and its Discord community has previously been flooded with cryptocurrency spam.

Binance: Users with 240 Alpha Points can claim an IN or BLUAI airdrop.

The Binance Alpha Box event is now live, and this airdrop prize pool includes two tokens: INFINIT (IN) and Bluwhale (BLUAI). Users holding at least 240 Binance Alpha points can claim an airdrop reward of 470 IN or 5000 BLUAI on the Alpha Events page, on a first-come, first-served basis. If the reward is not distributed, the points threshold will automatically decrease by 5 points every 5 minutes. Claiming the airdrop will cost 15 Alpha points, and users must complete the page confirmation within 24 hours, otherwise it will be considered as a forfeiture of the reward.

Warning: Phishing websites impersonating Pudgy Penguins' new game are attempting to steal users' wallet passwords.

Upbit will list ETHFI tokens on the Korean won market.

South Korean cryptocurrency exchange Upbit will list the ETHFI token on the Korean won market.

The Algorand Foundation announced a 25% reduction in its workforce due to macroeconomic uncertainty and the sluggish crypto market.

According to The Block, the Algorand Foundation announced a 25% reduction in its workforce, citing global macroeconomic uncertainty and the crypto market downturn. The foundation stated on the X platform that this decision was not rash but a response to the uncertain global macroeconomic environment and the broader crypto market downturn. According to LinkedIn, the non-profit organization has fewer than 200 employees. Its latest financial report shows that the foundation holds approximately $38 million in USD-denominated assets and 1.1 million ALGO tokens. The foundation stated that it believes current resources are more sustainably aligned with the protocol's long-term priorities and will continue to focus on its mission of financial empowerment. Recent layoffs in the crypto industry have continued, with several projects shutting down or restructuring.

Coinbase adds Impossible Cloud Network (ICNT) to its listing roadmap

According to an official announcement, Coinbase has added Impossible Cloud Network (ICNT) to its listing roadmap. The listing of this asset still depends on whether market-making support and technical infrastructure are in place. The specific listing time will be announced separately once the relevant conditions are met.

Xiaomi releases large-scale MiMo-V2-Pro model

According to CLS News Agency, Xiaomi has released the Xiaomi MiMo-V2-Pro, a large-scale agent model. The Xiaomi MiMo-V2-Pro is specifically designed for high-intensity agent workloads in the real world. It boasts over 1TB of total parameters (42B of activation parameters), employs an innovative hybrid attention architecture, and supports ultra-long context lengths of up to 1MB. The MiMo-V2-Pro model is now officially available via API, supporting 1MB context lengths and offering tiered pricing based on usage: Up to 256KB context: $1 input/million tokens, $3 output/million tokens; Up to 1MB context: $2 input/million tokens, $6 output/million tokens. The MiMo-V2-Pro is now available on multiple platforms.

US media: US Department of Defense seeks $200 billion in funding for the war against Iraq.

According to a report by The Washington Post cited by Jinshi, senior U.S. government officials stated that the Pentagon has requested the White House to approve a congressional budget request exceeding $200 billion to fund the war with Iran. This request, far exceeding the cost of the current large-scale government airstrikes, is almost certain to face resistance from lawmakers opposed to the conflict. The request aims to urgently boost the production capacity of key weapons, which have been heavily depleted in the past three weeks. Some White House officials believe the Pentagon's request is unlikely to be approved by Congress. Sources familiar with the matter said that the Pentagon has submitted several funding proposals of varying sizes in the past two weeks. This work is being led by Deputy Secretary of Defense Steven Feinberg, whose team has developed a series of funding plans intended to quickly alleviate the Pentagon's ammunition shortage.

Kraken's parent company halts multi-billion dollar IPO plans.

According to CoinDesk, Kraken's parent company, Payward, secretly filed for an IPO with the U.S. SEC last November. However, due to the recent weakening of the crypto market since Bitcoin reached its all-time high, valuations have been under pressure, and trading volume has declined. The company has suspended its listing process, awaiting improved market conditions before resuming. Payward previously completed an $800 million funding round at a valuation of approximately $20 billion, including $200 million from Citadel Securities, to promote blockchain technology in traditional financial markets. In contrast, at least 11 crypto companies, including Circle, Bullish, and Gemini, are projected to raise approximately $14.6 billion through IPOs in 2025. However, so far in 2026, only the custodian BitGo has successfully listed, and its share price has fallen by approximately 44%.

Polymarket acquires DeFi infrastructure startup Brahma

According to Fortune, prediction market platform Polymarket announced its acquisition of Brahma, a startup providing crypto and DeFi infrastructure. The transaction amount was not disclosed. Polymarket plans to leverage Brahma's capabilities in multi-chain infrastructure and DeFi liquidity to strengthen underlying processes such as wallet creation, fund deposits, position conversions, and settlements, further hiding on-chain complexity in the background. The report mentions that Polymarket's valuation has reached approximately $20 billion. Brahma will cease providing services to other institutions and individuals, focusing instead on providing infrastructure support to Polymarket. Previously, Polymarket had acquired developer tools startup Dome and executive search firm Lunch.

Tempo launches mainnet and releases machine payment protocol

Tempo, a stablecoin public blockchain powered by Stripe and Paradigm, announced its mainnet launch and introduced the Machine Payments Protocol (MPP), an open standard jointly developed with Stripe, to support machine payment scenarios using various payment methods such as stablecoins and debit cards. Tempo is designed for high-frequency, small-amount, programmable payments, emphasizing predictable low fees, high throughput, and instant settlement. MPP introduces a "sessions" mechanism, enabling continuous streaming fee deductions within a limited amount after a single authorization, supporting the aggregation of numerous small interactions into a single settlement transaction.

S&P launches its first officially licensed S&P 500 perpetual contract on Hyperliquid.

According to PR Newswire, S&P Dow Jones Indices announced that it has licensed the S&P 500 index to [TradeXYZ], launching the first and only officially licensed S&P 500 perpetual contract on the decentralized public chain Hyperliquid. This product targets qualified non-US investors, supports 24/7 on-chain leveraged long/short trading, and directly uses institutional-grade S&P DJI index data. S&P stated that this move extends the S&P 500 liquidity ecosystem onto the blockchain, supplementing existing on-exchange and off-exchange products such as futures, options, and ETFs. Trade[XYZ] is the largest real-world asset perpetual market on Hyperliquid, with a trading volume exceeding $100 billion since October 2025 and an annualized trading volume exceeding $600 billion.

Investment and financing news

RunSybil raises $40 million to automate enterprise software security penetration testing using AI.

According to Fortune, AI cybersecurity startup RunSybil has raised $40 million in funding, led by Khosla Ventures, with participation from S32, Anthropic's Anthology Fund, Menlo Ventures, Conviction, Elad Gil, and angel investors from companies such as OpenAI, Palo Alto Networks, Stripe, and Google. RunSybil uses its AI agent, "Sybil," to perform automated penetration testing on enterprise online applications without human intervention, discovering, exploiting, and recording security vulnerabilities in real-world environments.

Opinions & Analysis

Author of "Rich Dad Poor Dad": Traditional financial bubbles are about to burst; Bitcoin may rise to $750,000.

Robert Kiyosaki, author of "Rich Dad Poor Dad," posted on social media that a "bubble burst" in traditional finance is imminent, predicting that Bitcoin will rise to $750,000 within a year of the burst. Kiyosaki also predicted that gold will rise to $35,000 per ounce, a 546% increase from its all-time closing price, while his $750,000 target price for Bitcoin represents a 500% increase from its all-time high.

Analysis indicates that Kiyosaki's Bitcoin-to-gold ratio is 21.5, far below its all-time high of 40 in December 2024, and also below its current 200-day moving average of 22. Kiyosaki has been predicting economic collapses since 2011, but many of his predictions have failed. For example, in 2015 he predicted a stock market crash in 2016, when the S&P 500 actually rose 9.5%; in May 2024 he claimed that "the biggest crash in history has begun," but since then, both stocks and precious metals have recorded gains.

SlowMist CISO: Coinbase Commerce's asset recovery page sitemap also has flaws and is at risk of phishing attacks.

After SlowMist founder Yu Xian disclosed the risks of Coinbase Commerce's asset recovery page directly requiring users to enter plaintext mnemonic phrases, SlowMist's Chief Information Security Officer 23pds added that the page's sitemap also has flaws. Malicious attackers can easily use tools like ResourcesSaver to download the front-end code and deploy similar websites. If these websites are combined with domains like Coinbase to launch phishing attacks, users can easily fall for the scam.

SlowMist Cosine questions Coinbase's page that requires users to enter plaintext mnemonic phrases: Incomprehensible

Yu Xian, founder of SlowMist, posted on the X platform, expressing his bewilderment at Coinbase's page that required users to enter plaintext mnemonic phrases for asset recovery. He said such insecure behavior was baffling and he almost thought his subdomain had been hacked.

Important data

"Set 10 major targets first," whales reopen long positions in Bitcoin.

A screenshot posted on the X platform by whale @Jason60704294, who has set "10 big goals first," reveals that he has reopened a long position in Bitcoin, currently holding 9.437 BTC at an opening price of $70,027.66.

An entity is suspected of spending a total of $187 million to purchase ETH through four wallets since March 10.

According to Onchain Lens monitoring, since March 10, four wallets, possibly belonging to the same entity, have spent 187.31 million USDT to buy 86,268 ETH at a price of $2,171. More than a year ago, these wallets (in aggregate) sold 53,799 ETH for $3,578, receiving 192.47 million USDT in return.

Previously, while tracking them, the analyst discovered that these wallets had received ETH from ShapeShift 10 years ago, and Arkham AI identified them as "Erik." They believe these four wallets, belonging to the same entity, may also control other wallets.

A certain whale has purchased 10,811.34 ETH on-chain since March 6th.

According to on-chain analyst @ai_9684xtpa, a whale (0x65B…5Ce93) has purchased 10,811.34 ETH in two weeks. Since March 6th, this whale has purchased $22.58 million worth of ETH on-chain through Cowswap, with an average cost of $2,088.79. In the past 13 hours alone, they purchased 4,583 ETH. Prior to this, they had not traded ETH for five months.