PA Daily News | Strategy raises $44.1 billion in new securities offerings; ParaFi has raised $125 million for its new fund.

Today's top news highlights:

Israeli officials say the United States plans to end the war against Iran on April 9.

The General Office of the CPC Central Committee and the General Office of the State Council issued the "Regulations on Integrity in the Work of Leaders of State-Owned Enterprises," which prohibits the acceptance of money or valuables such as "virtual currency."

Binance Wallet launches the Alpha Box event, where you can use Alpha Points to claim AIA or SIGMA airdrops.

A rare two-block reorganization occurred on the Bitcoin network, with Foundry USA winning the block battle.

Strategy spent $76.6 million last week to purchase 1,031 BTC, bringing its total holdings to approximately 762,100 BTC.

Digital asset management firm ParaFi has raised $125 million for its new fund.

Strategy expands its ATM funding, adding $44.1 billion in securities issuance.

BTR has plummeted 80% since yesterday afternoon, during which 41% of its circulating supply flowed into Bithumb.

Regulation & Macro

Israeli officials say the United States plans to end the war against Iran on April 9.

An Israeli official stated that the United States has set April 9th ​​as the target date for ending the war against Iran. The official indicated that talks between Iran and the United States are expected to take place later this week in Pakistan. The report states that US President Trump said the US had held two days of talks with Iran on a plan to end the war and had withdrawn its previous 48-hour ultimatum demanding the strikes against power plants. Iran, however, denies that any negotiations have taken place.

The General Office of the CPC Central Committee and the General Office of the State Council issued the "Regulations on Integrity in the Work of Leaders of State-Owned Enterprises," which prohibits the acceptance of money or valuables such as "virtual currency."

The General Office of the CPC Central Committee and the General Office of the State Council recently issued the "Regulations on the Integrity of Leaders of State-owned Enterprises." Article 7 of the regulations clearly stipulates that leaders of state-owned enterprises shall not use their power or influence to seek personal gain, including not accepting or soliciting gifts, cash, securities, virtual currency, or other valuables from related enterprises, business partners, or management service recipients, or agreeing to accept them after leaving office or retiring.

The U.S. military will continue strikes against Iran; the "pause" only applies to attacks on Iranian energy facilities.

According to a report by U.S. Flag Signal News, citing U.S. officials, although President Trump stated on March 23 that he had "instructed the U.S. Department of Defense to postpone military strikes against Iranian power plants and energy infrastructure for five days," a U.S. official revealed that the U.S. military will continue its strikes against Iran. The "pause" only applies to attacks on Iranian energy facilities and does not include Iranian military bases, naval forces, ballistic missiles, or the defense industrial base. The initial steps of the U.S. military's so-called "Operation Epic Fury" will continue.

The Hainan Provincial Financial Regulatory Bureau warns: Be wary of illegal financial activities using names such as "Hainan Digital Exchange".

On March 18, the Hainan Provincial Local Financial Supervision and Administration Bureau officially issued a risk warning, directly pointing out the illegal financial activities currently taking place in the market under the names of "Hainan International Data Asset Exchange", "Hainan Data Exchange", and "Hainan Maritime Exchange", which are illegally conducting RWA real-world asset and RDA real-data asset trading businesses. This directly exposes the compliance disguise of some illegal entities, and at the same time, reiterates the regulatory red line for RWA tokenization activities in China.

The core of this risk warning from the Hainan Provincial Local Financial Regulatory Bureau is to completely deny the legal status of the "Hainan International Data Asset Exchange," explicitly informing the market that no such institution has ever been approved for establishment within Hainan Province. Simultaneously, the regulatory authorities have clearly defined the compliance thresholds for establishing trading venues: the establishment of any trading venue within Hainan Province must be approved by the provincial government. Without approval from the relevant authorities, market entities are not only prohibited from using exclusive terms such as "exchange" or "trading center" in their registered names, but also from engaging in any trading venue-related business activities.

Former SEC enforcement chief Margaret Ryan resigns due to disagreements over handling of cases related to Trump.

Margaret Ryan, former head of enforcement at the U.S. Securities and Exchange Commission (SEC), abruptly resigned on March 16, reportedly due to disagreements with SEC Chairman Paul Atkins and other senior officials over handling cases related to the Trump administration. Ryan sought to advance fraud and other charges in cases involving crypto entrepreneur Justin Sun and Tesla CEO Elon Musk, but faced resistance. Earlier this month, the SEC settled its lawsuit against Sun and three of his companies for $10 million; Sun has neither admitted nor denied the charges. The SEC and Musk jointly filed a document on March 17 stating they were negotiating a settlement. Ryan's departure after only six months in office was not disclosed by the SEC.

A new bill in Delaware, USA, proposes to include stablecoins within the framework of banking regulation.

According to Cointelegraph, two Delaware lawmakers have introduced the "Delaware Payments Stablecoin Act," which proposes a licensing framework for stablecoin issuers and digital asset service providers. The bill adopts the definition from the U.S. federal Stablecoin Act and covers provisions such as reserve shortage remedies, mandatory redemption timelines, capital requirements, and anti-money laundering obligations. If approved, the state banking commissioner will develop implementing rules within a specified timeframe.

The Delaware Banking Modernization Act, also submitted, aims to update the state's banking law, which hasn't undergone major revisions since 1981, and provides a definition for digital assets to clarify the regulatory framework. The Delaware governor stated that the legislation aims to lower barriers to entry for financial services, allowing residents to send, receive, and store funds simply through an internet connection. Both bills still need to be reviewed by the Senate Banking Committee and debated by the full committee before becoming law. Legislators also plan to submit the Delaware Money Transmission and Virtual Currency Modernization Act in the coming days, focusing on implementing consumer protections and regulating the types of licensed activities.

Project Updates

Binance will distribute NIGHT rewards to eligible Super Earning users.

Binance will begin distributing Midnight tokens (NIGHT) as rewards to eligible Super Earn users starting March 25th. The total NIGHT reward pool is 120 million tokens, with 108 million allocated to Activity One (Super Earn Subscription Special Rewards) and 12 million allocated to Activity Two (Glacier Airdrop Special Rewards). Rewards are calculated based on holding data from multiple random snapshots taken daily between March 16th and 24th, and the reward distribution process may take several days.

After the event ends, all remaining Super Earn Coins will be automatically transferred to the Principal-Protected Earn Coin Flexible Deposit Product on March 26th, and users can redeem them at any time. Early redemption will not affect accumulated NIGHT rewards. Rewards for users restricted due to account, regulatory, or other reasons may be temporarily withheld pending review.

Binance Alpha will open airdrops for collection and trading at 18:00 today. The airdrop threshold is 251 points.

Binance Wallet launches the Alpha Box event, where you can use Alpha Points to claim AIA or SIGMA airdrops.

The Binance Alpha Box event is now live, featuring a new Alpha Box model. The airdrop pool consists of two tokens: DeAgentAI (AIA) and SigmaDotMoney (SIGMA). Users holding at least 251 Binance Alpha points can claim an airdrop reward of 335 AIA or 375 SIGMA on the Alpha Events page, on a first-come, first-served basis. If the airdrop is not fully distributed, the points threshold will automatically decrease by 5 points every 5 minutes. Participating in the airdrop will cost 15 Alpha points, and users must complete the confirmation on the page within 24 hours; otherwise, they will be considered to have forfeited their eligibility.

Backpack has opened a manual appeal channel for witchcraft convictions, and will refund more than 50% of the points after verification.

Backpack announced on the X platform that it has now opened a manual appeal channel for witchcraft determinations and will follow "Rule No. 3"—any device that has operated 3 or fewer accounts and has been determined to be a witchcrafter will have more than 50% of its points refunded after manual appeal verification.

Furthermore, Claire, a member of the Backpack team, stated that the team has had in-depth discussions with the anti-Syracist executive. Due to the insistence on the absolute principle of "one person, one account" by Western teams, coupled with differences in usage habits and sensitivity to KYC information between Chinese-speaking and Western users, more Chinese-speaking users have been affected. The team plans to launch a special program in the coming days to repurchase tokens on the secondary market to provide targeted compensation to eligible users.

James Wynn reopened a 40x leveraged short position in BTC after being completely liquidated.

A rare two-block reorganization occurred on the Bitcoin network, with Foundry USA winning the block battle.

The Bitcoin network experienced a rare two-block reorganization last night. At height 941880, the network briefly split into two competing chains. AntPool mined block 941881, and ViaBTC subsequently mined block 941882 on the same chain; meanwhile, Foundry USA mined its version of block 941881 and continued mining its version of block 941882. After Foundry USA continued mining blocks 941883, 941884, and 941885, the competing chains were broken, and the blocks from AntPool and ViaBTC were discarded as orphan blocks.

This reorganization was not an attack or malfunction, but rather a normal result of the decentralized consensus mechanism of Bitcoin. Single-block reorganizations are common, but two-block reorganizations are relatively rare, meaning that the tie between the two chains lasted for an entire block cycle. Foundry USA mined seven consecutive blocks from 941879 to 941885.

Strategy spent $76.6 million last week to purchase 1,031 BTC, bringing its total holdings to approximately 762,100 BTC.

The 8-K filing shows that Strategy purchased 1,031 BTC for approximately $76.6 million between March 16 and 22, at an average price of approximately $74,326. As of March 22, it held a total of 762,099 BTC, with a total purchase cost of approximately $57.69 billion and an average price of approximately $75,694.

Bitmine increased its holdings by 65,300 ETH last week, bringing its total holdings to over 4.66 million ETH.

According to PR Newswire, NYSE American listed company Bitmine Immersion Technologies (BMNR) added 65,341 Ethereum (ETH) in the past week, significantly higher than its previous weekly purchase pace of approximately 45,000–50,000 ETH. Its ETH holdings have increased to 4,660,903, representing about 3.86% of the total ETH supply, and it plans to increase its holdings to 5%.

Investment and financing news

Digital asset management firm ParaFi has raised $125 million for its new fund.

According to Bloomberg, New York-based digital asset management firm ParaFi raised $125 million for its new fund in March, backed by KKR co-founder Henry Kravis. ParaFi stated that since the beginning of 2025, it has raised $325 million for its existing digital asset-related investment strategies. Currently, the company manages approximately $2 billion in assets. Founder Ben Forman stated that ParaFi is already an investor in projects such as prediction market giant Polymarket, asset management firm Bitwise, and crypto custody provider Anchorage, and is currently focusing on companies active in the stablecoin, tokenization, and institutional on-chain finance sectors.

Kalshi's early employees plan to raise $35 million to establish a venture capital fund focused on prediction markets.

According to Fortune, early employees of prediction market platform Kalshi are launching a venture capital fund called 5c(c) Capital, aiming to raise up to $35 million, focusing on investing in the prediction market sector. The fund's partners are Adhi Rajaprabhakaran, a former early trader at a Kalshi-affiliated market maker, and Noah Zingler-Sternig, former head of operations at Kalshi.

Strategy expands its ATM funding, adding $44.1 billion in securities issuance.

According to Strategy's 8-K filing, the company has added up to $21 billion in Class A common stock ATMs, $21 billion in STRC preferred stock ATMs, and $2.1 billion in STRK preferred stock ATMs. It has also added Moelis, Alliance, and StoneX as sales agents, while increasing the number of STRC licensed shares and decreasing the number of STRK licensed shares.

Opinions & Analysis

YZi Labs alleges BNC governance failures: CEO receives nearly $2 million in "golden parachute" compensation despite impending departure.

In response to the 10-Q and 8-K filings submitted by Nasdaq-listed CEA Industries (BNC) on March 16, 2026, YZi Labs issued a statement accusing the company of systemic failures in corporate governance, internal controls, and oversight of related-party transactions, and strongly condemned the company for providing nearly $2 million in "golden parachute" compensation to outgoing CEO David Namdar.

YZi Labs pointed out that the relevant documents disclosed that BNC had significant internal control deficiencies, including the failure to separate the responsibilities of the CEO and the CFO, and insufficient financial information verification mechanisms, which affected the accuracy of key data such as revenue, taxation, and equity incentives. This long-term governance failure, lack of transparency in information disclosure, and lack of independent supervision led YZi Labs to call on the board of directors to immediately provide a public explanation on matters such as the reasonableness of severance pay, internal control rectification plans, review of related-party transactions, and transparency of agreement terms. Otherwise, YZi Labs will continue to take action to hold the company accountable.

(Note: Golden Parachute is a mechanism that pays a large sum of money to departing executives when a company changes control. It originated in the United States and aims to reduce management's resistance to mergers and acquisitions.)

The Ethereum Foundation discusses its vision for L1 and L2: L2 focuses on differentiated innovation, while L1 remains committed to settlement and liquidity centrality.

The Ethereum Foundation has published a paper outlining its future ecosystem vision for Layer 1 and Layer 2. The paper points out that as the ecosystem evolves, the primary goal of Layer 2 has shifted from scaling Ethereum to providing differentiated functionality, customized services, innovation, and decentralized control. Ethereum Layer 1 will continue to serve as a permissionless, highly resilient global settlement layer, a shared state layer, and a DeFi liquidity hub, while achieving orders-of-magnitude scaling through zero-knowledge technology. Layer 2, on the other hand, should focus on a strategy that complements Layer 1, building its own ecosystem through differentiated positioning and extending Ethereum's core attributes to a wider range of users.

The Ethereum Foundation will focus on improving Layer 1 scaling capabilities and liquidity access efficiency, supporting Layer 2 in enhancing privacy, security, and trustlessness, and investing in native Rollup technology to achieve synchronous composability. The Foundation will also collaborate with companies like L2Beat to monitor Layer 2 security properties and work with ecosystem partners to address sharding issues in multi-chain ecosystems.

Important data

FlowDesk deposited 6,088 ETH and 1.62 million LINK into Binance 6 hours ago.

A new wallet withdrew 9,701 ETH from Binance for staking, worth $20.9 million.

According to Onchain Lens, a newly created wallet withdrew 9,701 ETH from Binance, worth $20.9 million, for staking.

BTR has plummeted 80% since yesterday afternoon, during which 41% of its circulating supply flowed into Bithumb.

According to on-chain analyst Yu Jin, Bitlayer (BTR) has plummeted by 80% since yesterday afternoon, falling from $0.20 to $0.04. It appears that the Bithumb exchange is the primary dumping ground for BTR spot trading (or rather, the site of spot price manipulation): in just one day since yesterday's drop, 41% of the circulating supply of BTR (140 million tokens) has flooded into Bithumb.

YZi Labs transferred 87.5 million RDNT to Binance, equivalent to approximately $470,000.

Bitcoin spot ETFs saw a total net inflow of $167 million yesterday, marking the first net inflow after three days of net outflows.

The Bitcoin spot ETF with the largest single-day net inflow yesterday was BlackRock ETF IBIT, with a net inflow of $161 million. IBIT's total historical net inflow has now reached $63.417 billion.

The second largest inflow was into the Fidelity ETF FBTC, with a net inflow of $41.7009 million in a single day. The total historical net inflow of FBTC has reached $10.982 billion.

The Bitcoin spot ETF with the largest single-day net outflow yesterday was Grayscale ETF GBTC, with a single-day net outflow of $25.8687 million. GBTC's current historical total net outflow is $25.985 billion.

Ethereum spot ETFs saw a total net outflow of $16.1842 million yesterday, marking the fourth consecutive day of net outflows.