Spark Q1 Protocol Total Revenue $33 Million, Up 10% Year-Over-Year

On March 20, Onchain Lens data shows an anonymous crypto whale has again purchased 3,618 ETH using 7.7 million USDT. The whale currently holds 107,007 ETH (valued at ~$2.29 billion) and 23 million USDT, indicating further ETH buys may be imminent.

March 20th, U.S. Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert said in a post on X that the agency has released a Frequently Asked Questions (FAQ) on crypto assets and blockchain-related activities, further clarifying compliance guidance for registered firms and trading entities. The FAQ covers topics including tokenized collateral and digital assets used as margin, among others. It supplements two prior staff letters—one on tokenization custody guidance and another on digital asset margin no-action guidance—providing market participants with a clearer operational framework. Tarbert added that as “Project Crypto” evolves into a collaborative initiative, aligning with the U.S. Securities and Exchange Commission (SEC) is a key step to advancing clarity and harmonization in crypto regulatory rules.

March 20, digital payment platform Wirex has integrated the Morpho Treasury—managed by Gauntlet—into its corporate accounts. The feature automatically converts a company’s USD or EUR deposits into USDC or EURC, then deposits the stablecoins into Morpho’s treasury; Gauntlet oversees risk management and strategy configuration for the service. To date, over $10 million in corporate funds have generated returns via the integration. Wirex plans to expand the service to GBP, AUD, and HKD accounts going forward, and launch enterprise loans backed by Bitcoin collateral.

On March 20, Binance Futures announced via official sources that it will conduct automatic liquidation of APTUSD and OPUSD coin-margined perpetual contracts at 5:00 PM on March 25, followed by the delisting of these trading pairs immediately after the liquidation.

On March 20, Onchain Lens data shows a whale opened a 20x-leveraged ETH short position over the past three hours, holding 10,056 ETH valued at $21.44 million. The same whale has previously lost over $1 million on long/short positions in NVDA and BTC.

March 20: Short-term interest rate futures suggest the market is pricing in a Fed rate hike in December. (FX678)