Crypto Morning News: Binance to Block/Punish Non-Compliant Market Makers; Bitmine Launches In-House ETH Staking Platform MAVAN

Author: TechFlow

Yesterday’s Market Highlights

U.S. Democratic Representative Calls for Trump’s Removal from Office

Market news: U.S. Democratic Representative Alexandria Ocasio-Cortez has formally called for President Trump’s removal from office under the U.S. Constitution’s 25th Amendment. The 25th Amendment stipulates that if the president is unable to discharge the powers and duties of the office, the vice president shall assume those responsibilities.

SEC Chair Signals Tokenization Innovation Exemption Framework Expected Within Weeks

According to The Block, the U.S. House Financial Services Committee held a hearing titled “Tokenization and the Future of Securities: Modernizing Capital Markets.” Meanwhile, the U.S. Securities and Exchange Commission (SEC) is preparing to launch an innovation exemption framework for tokenized assets, potentially operating as a regulatory sandbox for on-chain assets.

SEC Chair Paul Atkins stated that the agency will solicit public input on future rulemaking topics. Previously, the SEC approved several tokenized securities initiatives: In December last year, it authorized the Depository Trust & Clearing Corporation (DTCC) to tokenize select highly liquid assets on pre-approved blockchains; the New York Stock Exchange (NYSE) announced plans to develop a platform for tokenized securities trading and on-chain settlement; and Nasdaq received SEC approval for rule changes enabling tokenized stock trading.

At the hearing, several lawmakers expressed reservations. Representative Brad Sherman warned that the exemption framework could create a “dual-track market,” allowing tokenized securities on blockchain to bypass core securities regulations. Representative Maxine Waters invoked lessons from the 2008 financial crisis, questioning whether tokenization would truly benefit investors—or primarily enrich “intermediaries”—and raised concerns regarding Trump’s potential conflicts of interest related to cryptocurrency.

Trump Plans to Appoint Zuckerberg, Huang, and Ellison to Technology Advisory Council

According to The Wall Street Journal, Trump plans to appoint Mark Zuckerberg, Jensen Huang, and Larry Ellison to a new Technology Advisory Council. The council will advise the government on artificial intelligence policy and other technology-related matters. David Sacks will serve as co-chair of the council.

Binance Releases Market Maker Red Flag Guide, Warning Projects and Users Against Market Manipulation

Per Binance’s official blog, Binance has published a “Red Flag Guide for Market Makers” in the crypto market, alerting users and projects to the following risky behaviors: aggressive sell-offs conflicting with token release schedules; one-sided sell orders; coordinated cross-platform sell-offs; disproportionately high trading volumes inconsistent with price movements; and abnormal price volatility caused by insufficient liquidity.

Binance advises projects to conduct rigorous due diligence when selecting market makers, clearly define contractual terms, prohibit profit-sharing arrangements, and continuously monitor market maker activities post-listing. Binance stated it will blacklist non-compliant market makers and has opened dedicated reporting channels.

Bitmine Launches Proprietary Ethereum Staking Platform MAVAN; $300M Annualized Yield Generated from 3.14M ETH Staked

According to PR Newswire, Bitmine Immersion Technologies (NYSE: BMNR) officially launched MAVAN (Made In America VAlidator Network) on March 25—a proprietary institutional-grade Ethereum staking platform. As of March 24, 2026, Bitmine has staked 3.1426 million ETH, valued at approximately $6.8 billion at current prices, making it the world’s largest Ethereum holder. Upon full deployment, MAVAN is projected to generate nearly $300 million in annualized staking yield (based on a 7-day yield of 2.83%).

The company stated that MAVAN will be open to institutional investors, custodians, and ecosystem partners, and plans to gradually expand into other proof-of-stake chains and blockchain infrastructure services—including on-chain treasury solutions and post-quantum client development—by 2026. Bitmine’s investor roster includes ARK’s Cathie Wood, Founders Fund, Pantera, and Galaxy Digital. Its long-term goal is to hold 5% of all ETH globally.

Ethereum Foundation Publishes Post-Quantum Upgrade Roadmap; L1 Upgrade Targeted for Completion by 2029

According to DL News, the Ethereum Foundation officially released its post-quantum upgrade roadmap on Tuesday, aiming to complete the initial Layer 1 protocol upgrade by 2029, with full execution-layer migration expected over subsequent years.

The roadmap centers around four key hard forks: The “I” fork will equip network validators with quantum-resistant public keys; the “J” fork aims to reduce gas costs required to verify quantum-resistant signatures; both upgrades are already included in candidate proposals for the upcoming Hegota hard fork later this year. The “L” fork will compress blockchain state into zero-knowledge proofs; the “M” fork will deliver quantum resistance for Layer 2 networks.

The Ethereum Foundation noted that quantum computing will ultimately break the public-key cryptography currently securing ownership, identity verification, and consensus mechanisms—but estimated that cryptographically relevant quantum computers remain 8–12 years away. The Foundation formed a dedicated quantum research team in January and emphasized that “this work must begin well before the threat materializes.”

Polymarket to Introduce Taker Fees Across Nearly All Trading Categories Starting March 30

According to CryptoNews, decentralized prediction market Polymarket announced it will introduce taker fees across nearly all trading categories starting March 30, with rates varying by category. Cryptocurrency-related contracts carry the highest fee, peaking at 1.8%; political, sports, finance, culture, weather, and general categories apply lower tiered rates; mention-based and certain economic bets peak at ~1.5%. Geopolitical markets remain the sole exempt category.

Market makers (makers) continue to receive rebates, ranging from 20% to 50% depending on category.

This change ends Polymarket’s longstanding zero-fee model. The platform previously attracted significant liquidity during the 2024 U.S. election cycle thanks to its fee-free structure. Polymarket described the fee implementation as essential to achieving sustainable growth and ensuring reliable liquidity provision.

Visa Announces Appointment as Canton Network Super Validator

According to The Block, Visa announced it has been selected as a Super Validator on the Canton Network—the first time Visa has submitted and passed a blockchain governance proposal.

Visa’s application was submitted on March 20 and approved on March 23, assigning it the maximum Super Validator weight of 10. Visa stated it will leverage this role to help institutions integrate Canton into real-world business use cases—including payments, settlements, and treasury management—and plans to extend its stablecoin offerings via Canton’s payment layer.

The Canton Network currently hosts 42 Super Validators and 849 total validators, generating roughly $2.3 million in daily fee revenue. Participating institutions include BNP Paribas, Goldman Sachs, DTCC, Nasdaq, Circle, and Paxos.

Glimpse, Y Combinator–Backed Startup, Closes $35M Series A Led by a16z

According to TechCrunch, Glimpse—a startup incubated by Y Combinator—announced a $35 million Series A round led by Andreessen Horowitz, with participation from 8VC and Y Combinator. Glimpse specializes in helping retail brands automate chargeback processes, using AI to identify invalid deductions and automatically file disputes—assisting brands in recovering potentially lost funds. The company previously operated in Airbnb’s product showcase space and pivoted in 2024. It has raised a total of $52 million to date and now serves over 200 retail brands, including Suave and ChapStick.

Market News: SpaceX Plans to Raise Up to $75B in IPO

According to market reports, SpaceX plans to raise up to $75 billion in its initial public offering.

Bloomberg: Tether Has Paused $20B Fundraising Plan Pending First Full Financial Audit

According to Bloomberg, stablecoin issuer Tether Holdings SA had previously planned to raise $20 billion but has now paused the initiative pending the results of its first comprehensive financial audit. The company may resume fundraising after the audit concludes. According to sources, potential investors and bankers have consistently urged Tether to improve financial transparency throughout the process—though one source indicated some investors remain prepared to back the company even before the audit is finalized.

Market Data

Recommended Reading

Those Who Can’t Buy Anthropic Are Bidding Up Its “Shadow Stocks” 16x

This article discusses VCX, a closed-end fund listed on the NYSE that indirectly holds stakes in high-valuation, privately held tech firms—including Anthropic, OpenAI, and SpaceX—sparking intense market attention. Investors, unable to purchase shares of these companies directly, have paid steep premiums for VCX. However, such premiums may erode as lock-up periods expire and related IPOs proceed.

Interview with HTX Marketing Center Head: Product + Branding—HTX Unleashes Major Initiatives in 2026

This article delves into the management philosophy, user-first ethos, and 2026 brand-and-product strategy of Molly, head of HTX’s Marketing Center. Through reflections on her personal journey and team evolution, the piece highlights HTX’s global expansion efforts and forward-looking strategic direction.

March 25 Market Recap: U.S. Submits 15-Point Ceasefire Proposal to Iran; Oil Plunges >5% in a Day While Gold Soars

This article covers the U.S. submission of a 15-point ceasefire proposal to Iran, triggering sharp market reactions: U.S. equities rebounded, oil prices collapsed, gold surged, and cryptocurrencies traded sideways. Markets await Iran’s response.

a16z: How Revolut Became Europe’s Most Profitable Neobank—Without Relying on Net Interest Margins or Burning Cash

This article analyzes Revolut’s 2025 annual report, exploring how the fintech firm achieved rapid growth in Europe’s mature financial market. It breaks down Revolut’s growth logic, revenue streams, user acquisition strategies, and future scalability—arguing that Revolut has evolved beyond a traditional challenger bank and now possesses the potential to become one of the world’s largest banks.

Circle’s Hasty Freezing of 16 Corporate Wallets: For Whom Is Compliance Really Designed?

This article examines Circle’s policies and practices surrounding USDC freezing functionality, revealing a double standard in its responses to authorities versus ordinary users. Drawing on multiple case studies, it analyzes Circle’s divergent behavior when complying with government requests versus addressing user needs—highlighting the one-way nature of its compliance architecture and questioning legislative gaps underlying such practices.