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The U.S. Securities and Exchange Commission (SEC) announced that it has filed lawsuits against 21 individuals, accusing them of participating in a nearly decade-long cross-border insider trading scheme, allegedly profiting millions of dollars illegally by using undisclosed material information leaked by several international law firms.The SEC pointed out that Los Angeles mergers and acquisitions lawyer Nicolo Nourafchan and his partner Robert Yadgarov organized and operated this insider trading network. Nourafchan is accused of stealing significant non-public information related to more than 12 corporate merger transactions from his law firm clients and leaking it to other participants, who then profited from the trades and returned a portion of the earnings. The SEC also stated that the two recruited another corporate lawyer to continue obtaining and disseminating more merger insider information for trading.The SEC stated that this enforcement action reflects its determination to "combat large-scale insider trading networks and hold the entire leak chain accountable." Meanwhile, the Massachusetts Attorney General's Office has filed criminal charges against all individuals involved. Regulatory agencies from multiple countries, including the FBI, the UK's FCA, and Switzerland's FINMA, are also assisting in the investigation.

According to Jin Shi reports, Federal Reserve's Musalem stated that there are reasonable scenarios indicating that interest rates need to remain stable for a period of time.

In the first quarter of Greg Abel's tenure as CEO, Berkshire Hathaway's cash reserves surged to a record high of $397 billion. At the end of last year, the company's cash reserves had slightly decreased, but they increased significantly in the first quarter due to a net sale of $8.1 billion in stocks during the period.Additionally, Berkshire Hathaway A (BRK.A.N) reported Q1 2026 revenue of $93.675 billion, compared to $89.725 billion in the same period last year, with market expectations of $89.274 billion; net profit was $10.106 billion, compared to $4.603 billion in the same period last year, with market expectations of $11.762 billion. The fair value of fixed-income securities held by Berkshire Hathaway at the end of Q1 2026 reached $17.669 billion, compared to $17.816 billion in the same period last year.Buffett has always viewed cash as "a necessary but undesirable asset," often likening it to oxygen, which is crucial for businesses but not a good investment in itself. Buffett repeatedly emphasizes that Berkshire will never prefer holding cash equivalents over quality businesses; cash is merely a war chest waiting for "super good opportunities." When market valuations are too high and there are no attractive investment targets, he prefers to hoard cash rather than force a purchase; but once a great opportunity arises, he will deploy this ammunition without hesitation. In Buffett's view, cash can provide safe returns in a high-interest-rate environment, but in the long run, it is far less valuable than investing in excellent companies.While Berkshire's cash holdings reach a new high, despite the S&P 500 and Nasdaq indices recently hitting historical highs, there are still multiple risk hazards behind the market, and valuations are in a historically high range. Data shows that as of April, the rolling price-to-earnings ratio of the S&P 500 is about 24 times (historical average is about 16 times), and the Shiller price-to-earnings ratio (cyclically adjusted) has risen to over 37 times, at a historically high level, second only to the internet bubble period. This combination of "valuation + high expectations" means that the market has very limited room for error. Furthermore, the current rise in U.S. stocks is built on optimistic assumptions such as "AI-driven profits, falling inflation, declining interest rates, and controllable risks," and any deviation in these variables could trigger amplified shocks in the market.

Web3 asset data platform RootData released the progress data for the 2026 Q2 TGE. From the time distribution perspective, the crypto market is entering a concentrated release period for Q2 TGE, with market risk appetite and liquidity activity rebounding in sync. Among them, MegaETH has become the core anchor point of this window period. This project focuses on "ultra-high performance real-time execution" of EVM L2. After completing a $30 million financing, it officially TGE'd on April 30 and simultaneously launched on major exchanges such as Coinbase, Upbit, and Bithumb. According to the "Upcoming Issuance" section data from RootData's market, TGE is showing characteristics of a "short-term concentrated explosion": on April 29, Gensyn completed its TGE, on the 30th, MegaETH and Real Finance TGE'd simultaneously, and on May 1, Kuvi followed closely with its launch. Avant is expected to push forward its TGE in the latter part of Q2. At the same time, Polymarket data also provided forward-looking signals: before June, it may enter a peak issuance interval. Dreamcash (64%), Arc (46%), and Oro (40%) are in the first tier and may form the core of the next liquidity competition. Overall, this round of Q2 TGE is not a confirmation signal for the market but rather the starting point for liquidity redistribution. The subsequent market strength will depend on the absorption capacity of the new supply and the degree of support from the project's fundamentals for valuation.

BIT tweeted that in the past two issues of the "Biton Target" report, we hinted that the bear market phase of Bitcoin may be nearing its end. Signals from multiple time dimensions are gradually forming resonance, supporting this judgment. When this judgment was made, Bitcoin was approaching the downward trend line formed since the bear market began in October 2025, just one step away from breaking upwards. Meanwhile, the weekly stochastic oscillator has fallen to a low not seen since January 2023, which was near the phase bottom after the end of the 2021/2022 bear market. Historically, this indicator reading often corresponds to market bottom areas.Our Bitcoin trend model has turned bullish. Trend signals do not always materialize, but considering that Bitcoin itself has strong trends and high volatility characteristics, after the previous two signals reversed quickly, the current round of movement has better conditions for continuation. Additionally, Bitcoin's price is gradually approaching the 21-week moving average, which has a critical boundary significance in our bull-bear judgment framework.$73,000 has always been an important watershed since March 2024 and is a key threshold for confirming whether this trend can reverse. Recently, Bitcoin has been fluctuating around $70,000. If it can effectively break through and stabilize above $73,000, the reversal signal will be further confirmed. Currently, various indicators are overall positive, but before the price enters this round's target range, the upward pace may still be disturbed by phase risk factors, so attention should be maintained.

Ethena stated that it has not yet received a satisfactory root cause analysis of the rsETH incident and will extend the temporary suspension period of the OFT bridge. While this may be frustrating, it is a prudent measure to ensure the safe cross-chain transfer of user assets.Ethena has released a new proof of reserves, verified by independent third-party verification agencies (Chainlink, Chaos Labs, LlamaRisk, and Harris & Trotter), confirming that the collateral support ratio for USDe remains above 100%.

Analyst Markus Thielen stated that the fund flow into Bitcoin ETFs has recently turned positive again and is expected to achieve net inflows for the second consecutive month, indicating an improvement in market sentiment.Data shows that the current fund flow trend is highly similar to that of the same period in 2025. At that time, the fund inflow was relatively smooth at the beginning of the year, but then there was a concentrated inflow of about $30 billion, which drove Bitcoin to continue rising in the following months.Analysis suggests that the recent fund inflow indicates that the market has gradually digested the previous selling pressure, marking the first net inflow since March, which may provide support for future market trends.

According to CoinDesk, based on data from Arkham Intelligence and The Information, SpaceX currently holds 8,285 bitcoins in its Coinbase Prime custody account, valued at approximately $603 million, while the company is projected to incur nearly $5 billion in losses for the full year of 2025.Financially, SpaceX's revenue is expected to increase to $18.5 billion in 2025, but due to the acquisition and integration of Elon Musk's artificial intelligence company xAI in February this year, costs have exceeded revenue, leading to a significant reversal from a profit of about $8 billion in 2024 to a loss of nearly $5 billion.Despite recording substantial losses, SpaceX's bitcoin holdings have remained unchanged since mid-2024, showing no signs of reduction. CoinDesk's on-chain transfer records indicate that the last significant asset movement occurred about four months ago, involving a rebalancing operation of 614 and 1,021 bitcoins between SpaceX's internal wallets. The value of the holdings peaked at over $1.6 billion during the historical high of bitcoin in October 2025.In terms of corporate bitcoin holdings, SpaceX is currently the fourth largest known corporate holder, following Strategy, Marathon Digital, and Riot Platforms.

Nasdaq submitted a rule change to extend the timeline for switching the BlackRock iShares Bitcoin Trust ETF (IBIT) and iShares Ethereum Trust ETF (ETHA) from specific listing requirements to general listing standards, from the originally scheduled first quarter of 2026 to the third quarter of 2026, to give the sponsor BlackRock more time to complete the transition.The change was submitted on March 31, 2026, and took effect immediately.

Binance founder Zhao Changpeng (CZ) recalled in his new book that after the "9·4" regulatory policy was introduced in 2017, venture capital firms as a whole became more cautious, and Sequoia Capital, which had originally expressed investment intentions, also paused related cooperation. He stated, "Seeing the venture capitalists collectively silent during our most difficult September, I was actually quite disappointed."CZ revealed that prior to this, Sequoia had expressed investment interest at the beginning of He Yi's joining, but chose to wait and see in light of the policy impact. Subsequently, Binance achieved rapid growth from September to October, with the number of users increasing from about 20,000 in August to about 120,000 by late October, ranking among the top ten exchanges globally and becoming profitable.CZ stated that by the end of October, after the risk phase had basically passed, Sequoia re-expressed its investment intentions, but they had proposed to raise the valuation requirement. Ultimately, the two sides could not reach an agreement due to valuation differences. The other party then proposed to pursue legal proceedings, and a week later, four large boxes of legal documents were delivered. CZ said this was the "first time in his life becoming a defendant." CZ mentioned that he later learned that the lawsuit was led by Sequoia's legal team in the U.S., who are skilled at using the media to create public opinion, "the media reporters knew before I, the party involved."

According to CoinDesk, in the first quarter of 2026, institutional investors purchased a total of 69,000 bitcoins, while retail investors sold 62,000 bitcoins during the same period.

The RWA tokenization platform OpenEden announced on platform X that all team and advisor tokens will continue to be locked for 9 months, and the overall unlocking period will also be extended by the same duration. Therefore, the unlocking period for all team and advisor tokens will be postponed to January 2027.

According to Cointelegraph, the latest data shows that if Bitcoin further falls below $60,000, the time for the market to recover to historical highs may be delayed until 2027.Analysis indicates that Bitcoin has retraced about 48% from its peak of approximately $126,000 in 2025. According to historical patterns, for every additional 10% drop, the recovery period is extended by an average of about 80 days. If $60,000 is the bottom for this phase, it is expected to take about 300 days to complete the recovery; however, if it continues to drop to the $40,000-$45,000 range, the overall retracement will exceed 60%, and the recovery period may extend to about 440 days, pushing the timeline to after the second quarter of 2027.On-chain indicators also show that the bottom has not yet been confirmed. The comprehensive market index (BCMI) is currently around 0.27, above the historical bottom range (approximately 0.12-0.15), indicating that there is still room for further downside. In terms of capital flow, the continued selling by whales is intensifying pressure. Data shows that the selling intensity by large holders has reached its highest level in nearly 18 months, while liquidity in both the spot and futures markets is weakening simultaneously. Institutional views suggest that the current market is in a deep adjustment cycle, and if the macro environment remains tight (including high interest rates or even rate hikes), it will further delay the recovery pace of the cryptocurrency market.

According to Gate market data, the Nasdaq 100 Index has fallen 10% from its October high and is about to enter a correction period.

According to Jinshi reports, Federal Reserve Governor Barr stated that given inflation is above target levels, interest rates may need to remain unchanged for a period of time.

Coinbase Institutional published an analysis on platform X, pointing out that amidst recent geopolitical turmoil disrupting traditional financial markets, sentiment in the crypto market may be shifting, especially with Bitcoin showing relatively strong performance.Since the beginning of this year, Bitcoin's performance has outpaced the U.S. stock market, and market views suggest that the crypto market may be gradually emerging from a "period of extreme pessimism." The latest macro data indicates that U.S. non-farm employment growth is cooling, challenging the previous narrative that "the labor market remains resilient." Meanwhile, Bitcoin's value proposition as a relatively independent asset may be further enhanced in the eyes of institutional investors. Additionally, the rise in systematic leverage ratios reflects an improvement in participation in the crypto market. However, the market remains cautiously optimistic, with investors still waiting for further confirmation of the trend and continuously monitoring whether market participation can support a sustained upward trend.

According to market news, Federal Reserve Vice Chair for Supervision Michelle Bowman stated that U.S. regulators will propose rules for implementing the final phase of the Basel III framework in the coming weeks, expected to be released during the week of March 17 to 21, followed by a 90-day public comment period.The proposal is being coordinated by the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation. According to the global crypto framework finalized by the Basel Committee in 2022, Bitcoin is classified as a Group 2b asset, which regulators consider difficult to hedge and inherently volatile, facing a risk weight of 1250%. This means that a bank holding $100 million in Bitcoin exposure will be viewed as having $1.25 billion in risk-weighted assets, requiring approximately $100 million in capital.Compared to the zero risk weight for cash, gold, and U.S. Treasury securities, as well as the 20%-100% range for corporate loans, the capital treatment of Bitcoin is extremely harsh. Crypto industry institutions criticize the framework for misclassifying Bitcoin, hindering banks from providing related services.