Industry Reports

Exodus Movement releases FY2025 financial report, with revenue reaching $121.6 million, a new record high. The company holds over 610 Bitcoin and 1,840 Ethereum, and has fully repaid the $60 million debt financing obtained through Galaxy Digital.

Multicoin Capital co-founder Kyle Samani stated that PropAMM is an important innovation in market microstructure in recent years, optimizing market maker quote latency, directly hosting algorithms on the blockchain to enable real-time information sharing, thereby improving trading efficiency.

Wintermute CEO Evgeny Gaevoy analyzed three possible futures for cryptocurrency. He believes that the most likely scenario is traditional finance absorbing crypto, but this would stifle the ideals of crypto punk; a fully decentralized future is almost impossible. The third parallel coexistence model is the only worthwhile direction to pursue, requiring the crypto community to take concrete actions to protect individual sovereignty. Gaevoy feels confused about the current state of the industry, reflecting the conflict between personal ideals and commercial interests.

The March 12 crypto market news includes the Backpack token TGE scheduled for March 23, Across Protocol exploring the exchange of ACX tokens for equity, FDIC Chairman stating that stablecoins will not be covered by deposit insurance, Hyperliquid crude oil contract trading volume nearing $1 billion, and more.

NVIDIA released the open-source large language model Nemotron 3 Super on March 12, designed for multi-agent applications, with 120 billion parameters, significantly improved inference performance, and support for a context window of up to 1 million tokens. The model scored 85.6% on the PinchBench benchmark, the highest among its peers, and has been launched on multiple platforms supporting various cloud service deployments.

Gate News Report, March 12 — Wintermute CEO Evgeny Gaevoy stated that the cryptocurrency industry may evolve into three possible futures: the first is traditional finance adopting crypto technology; the second is everything migrating to DeFi; the third is traditional finance and crypto coexisting in parallel, forming a parallel economic system. Evgeny Gaevoy also pointed out that most of these paths would "stifle" the ideals of Cypherpunk.

Bitcoin hits 20M mined coins, fueling debates on supply, institutional buys, and market control. Zcash seed round and privacy tech drive social buzz, while Tether gains attention via USAT launch. Ethereum staking, Dogecoin rumors, and TRON AI partnerships dominate crypto social

Wells Fargo has applied for a trademark for "WFUSD," focusing on cryptocurrency and stablecoins, following similar moves by banks like Western Union and JPMorgan. The trademark is pending review and could enhance financial services in the digital assets space.

Author: Coinfound By March 2026, the global digital financial market will be at a critical crossroads of regulatory restructuring and industry revaluation. Hong Kong is about to issue the first batch of licenses for fiat-backed stablecoin issuers. This is not just a routine licensing approval but a landmark event signaling that Hong Kong's digital financial infrastructure is entering a practical phase. On the surface, this is regulatory implementation; but on a deeper level, it signifies that Hong Kong is trying to answer a more strategically important question: in the context of accelerating US-China digital financial competition and tightening global compliance frameworks, how can Hong Kong build a trustworthy system through the stablecoin regime that supports cross-border payments, enterprise-level treasury management, and RWA tokenization settlement? CoinFound believes that understanding the significance of the “night before the license” should not only focus on who will receive the first batch of licenses but also on what Hong Kong ultimately aims to reshape with this system.

Moonwell Lending Protocol experienced a security incident on-chain due to an oracle configuration error, leading to a severe underestimation of cbETH asset prices. This event was caused by a logic error in AI-generated code, which was exploited by liquidation bots for profit. Although no traditional hacking was involved, users suffered a loss of $1.78 million. The incident highlights the oversight in AI programming review processes and emphasizes the importance of human oversight in the context of technological automation.

Gate News Announcement, March 11: Ethereum researchers demonstrated a proof of concept for Native Rollups. This new design allows Ethereum to directly verify Layer 2 state transitions within its own execution environment. The experiment implements EIP-8079 through a new EXECUTE precompile, which re-runs Layer 2 blocks on Ethereum's base layer instead of relying on external proof systems for validation.

The crypto market shows caution with a slight dip in market cap to $2.38T, while trading volumes rise. Bitcoin and Ethereum both see declines, as top gainers like Tesla surge. Notable developments include Elon Musk's X Money launch and SEC's crypto adoption agreement.

Multicoin Capital predicts a shift in cryptocurrency usage from purchasing tokens to earning them through online tasks via the Internet Labor Markets model, rewarding user contributions through blockchain technology.

The Cardano Foundation has voted in favor of a proposal to cap the amount of ADA that can leave the Treasury to 300 million. It says the new limit matches the expected Treasury income and aligns with a more conservative spending plan. The Cardano Foundation has voted to support a new

Since the beginning of this year, the total value of tokenized real-world assets on public blockchains has increased by approximately 66%, reaching $23.6 billion, of which tokenized funds account for 44.5%, mainly including U.S. Treasury bonds and bonds, with tokenized gold and commodities totaling about $6.5 billion.

a16z Partner Andrew Chen stated that AI code generation technology will replace spreadsheets due to their lack of software engineering features. He predicts that this technology will significantly reduce development costs, enabling approximately 1 billion spreadsheet users to transition to real software applications, ushering in a new era for knowledge workers.

AI Payment Protocol x402 was launched on March 11, aiming to enable automatic payments between AI agents. Although its ecosystem is valued at $7 billion, it is currently in the testing phase, with low actual transaction volume, mostly driven by artificial activity. Analysts believe that the development speed may be overestimated in the next year, but its potential could be underestimated five years from now.

Ethereum founder Vitalik Buterin posted on X, pointing out that despite ensuring security and privacy, AI agents still face risks of adversarial attacks. He provided examples of potential security vulnerabilities that could lead to asset transfers and recommended implementing manual confirmation for large transactions, emphasizing the need to explain transaction details to users to improve user experience.

Chinese tech companies have launched an acceleration chip specifically designed for blockchain, reportedly capable of increasing processing efficiency by up to 50 times, impacting Bitcoin mining and decentralized applications. Meanwhile, an Alibaba AI agent independently chose Bitcoin mining without receiving instructions, sparking discussions about AI autonomous decision-making. This chip release is the latest development in China's long-term push for blockchain technology, with applications including digital identity verification and financial settlement systems.