Grayscale Files for Hyperliquid ETF

️ On today's Top Picks:

Crypto News

• ⭐️ Grayscale files Form S-1 registration statement with US SEC for Hyperliquid $HYPE ETF; to list on Nasdaq under ticker symbol GHYP; selects Coinbase as custodian; 21Shares & Bitwise also filed for Hyperliquid ETFs in 2025.

• Morgan Stanley files second amendment to Form S-1 registration statement with US SEC for upcoming Bitcoin $BTC ETF; to list on NYSE Arca under ticker symbol MSBT; first amendment named Coinbase & BNY Mellon as custodians.

• Forward Industries $FWDI buys back 6,164,324 (~$27M) at $4.44 per share; buyback funded with $40M loan from Galaxy Digital; currently holds ~7M Solana $SOL (~$622M).

• Evernorth Holdings files Form S-4 with US SEC disclosing 473M $XRP (~$681M) holdings; to go public via SPAC merger with Armada Acquisition Corp II $AACI; to list on Nasdaq under ticker XRPN.

• Crypto[.]com $CRO to lay off ~12% (~180) of team members citing integration of AI; previously cut 20% in 2023 and 5% in 2022; recently received conditional approval for national trust bank charter from US OCC.

• Gemini $GEMI lays off ~30% of team members (since start of 2026); also faces class-action investor lawsuit alleging it misled investors about its strategy; recently parted ways with its COO, CFO, & CLO.

Alpha

• ⭐️ Polymarket $POLY 'senior intern' Mustafa teases "big announcement monday" on X; recently teased "...POLY next" in February; recently acquired DeFi infrastructure firm Brahma for an undisclosed amount.

• Coinbase $COIN launches stock perpetual futures for non-US users; offers reward pool of up to $200K for power traders; also offers limited time 0% maker & 0.01% taker fees.

• MetaMask $MASK launches full native support for MegaETH $MEGA; to launch TGE after 1 of 3 Key Performance Indicators (KPIs) are achieved; Polymarket projects 67% chance MegaETH launches token by June 30th.

• ICYMI Tempo, a payments-focused L1 blockchain incubated by Stripe & Paradigm, launches mainnet; also introduces Machine Payments Protocol (MPP); Polymarket projects 51% chance Tempo launches a token by December 31st.

• ICYMI xStocks launches xPoints program; users can earn xPoints by holding xStocks, providing liquidity, lending or borrowing, & participating in ecosystem quests.

• Katana $KAT launches TGE; Pre-Deposit campaign participants can claim vKAT rewards (subject to exit fee); users who stake within first 72 hours can earn Founding Staker status.

Airdrops

• ⭐️ edgeX $EDGE launches airdrop registration; edgeX Points holders & XP holders are eligible; to launch airdrop claim soon.

• ICYMI OpenSea $SEA delays TGE citing challenging market conditions; gives no new target date; current Rewards Wave (Wave 6) to be the last; Treasures to be "meaningfully considered" at TGE.

• ICYMI Backpack $BP to launch TGE & airdrop on March 23rd; closed TGE Verified on Sunday (March 16th); Backpack points holders & Mad Lads NFT holders will be eligible.

• ICYMI Based $BASED to launch TGE & airdrop on March 30th; airdrop eligibility & allocation checker already live; Based Season 1 XP holders, Season 2 Gold holders, & more are eligible.

• ICYMI Perle $PRL launches airdrop registration, eligibility & allocation checker; Perle Season 1 points holders are eligible; to launch airdrop claim soon, potentially in March.

• ICYMI Mezo $MEZO launches Phase II airdrop allocation checker; Red Envelope participants are eligible for Phase II; Mezo Mats (points) holders were eligible for Phase I; to launch TGE & airdrop claim soon, potentially in March.

• ICYMI USDai $CHIP launches airdrop allocation checker; USDai Season 1 Allo (points) holders are eligible; TGE & airdrop claim expected in ~March.

Finance News

• US President Trump considers "boots on ground" in Iran causing S&P 500 $SPX, Gold $XAU, & Bitcoin $BTC to extend losses; though after US markets closed, Trump says the US is "considering winding down" the war causing SPX & BTC to rebound.

• ⭐️ US White House releases national policy framework for AI; covers six key objectives including child safety, energy costs, fair use, free speech, censorship, & more.

• Eightco Holdings $ORBS invests an additional $40M into OpenAI; brings total investment to $90M; notably, Ethereum treasury company BitMine $BMNR holds $83M stake in Eightco.

• Jeff Bezos $AMZN reportedly in talks to raise $100B for new fund; would acquire manufacturing companies in sectors like chips and aerospace and use AI to automate them.

• Super Micro Computer $SMCI co-founder Yih-Shyan Liaw charged by US DOJ for allegedly smuggling ~$2.5B in Nvidia $NVDA AI chips to China; allegedly used dummy servers to fool compliance team.

• Alibaba $BABA Q3 FY2026 earnings: $40.7B in revenue (+17% QoQ, +6% YoY), missing expectations; EPS of $1.01 (+66% QoQ, -66% YoY), missing expectations.

• Kalshi reportedly raises more than $1B at $22B valuation led by Coatue Management; previously raised $1B at $11B valuation in November 2025; Polymarket is also reportedly raising at $20B+ valuation.

Security and Exploits

• ⭐️ Unknown Entity claims 40% of Fabric Protocol $ROBO airdrop (199M ROBO); worth ~$8M at launch; Bubblemaps found no evidence linking the activity to the Fabric Protocol team.

• TheDAO launches ETHSecurity Badges recognizing "the people securing Ethereum"; selects 40 with 160 open spots left; badge holders to get onchain recognition, access to a token-gated chat room, & influence over how TheDAO Security Fund’s ETH is distributed.

• ICYMI Apple releases first 'Background Security Improvements' update patching security vulnerability in WebKit; flaw allows a malicious website to potentially access data from another website in the same browser session.

Token Unlocks

• LayerZero $ZRO / ~$54M / MAR 20th
• Wormhole $W / ~$1M / MAR 20th
• River $RIVER / ~$27M / MAR 22nd
Sourced from Tokenomist

Funding

• Bluesky raises $100M in Series B funding led by Bain Capital Crypto.

• Avalanche $AVAX raises an undisclosed amount in Strategic funding from Animoca Brands.

• Myriad $MYR raises an undisclosed amount in Seed funding from several investors.

The Degen Farmer