Suspected Sonic Labs-Related Address Transfers 11.78 Million S Tokens to Binance, Valued at Approximately $5.55 Million

On March 10, Bloomberg analyst James Seyffart noted that the top investors in the Solana ETF are primarily a mix of liquidity providers and crypto investment firms, calling its investor base a "star-studded lineup" of industry players. Top holders of Solana ETF exposure as of now include: Electric Capital Partners (over $137 million), Goldman Sachs Group (over $107 million), Elequin Capital (over $87.9 million), and Morgan Stanley (roughly $15.31 million).

March 10 — Per HyperInsight monitoring (https://t.me/HyperInsight), an address starting with 0x58c has been opening 20x leveraged long positions in cash:USA500 (S&P 500 perpetual contract) during U.S. stock market off-hours over the past 4 hours. The position totals $1 million with an average entry price of $6773. Additionally, the address holds a ~$220,000 long position in km:SMALL2000 (Russell 2000 perpetual contract), signaling bullishness on both U.S. large-cap and small-cap stocks. Hyperliquid data (https://app.hyperliquid.xyz/join/NTOD) shows the contract is currently priced at $6806 — slightly above the S&P 500’s closing price of ~$6795 today. The address added to its long position when the on-chain contract price pulled back to ~$6756 during off-hours. Beyond U.S. equities, the address has built a crude oil hedging portfolio: long xyz:BRENTOIL (Brent Crude) and short km:USOIL (WTI Crude), with a combined position size of $1.4 million.

**March 10 Update** Crypto reporter Eleanor Terrett noted that during a review of Tornado Cash co-founder Roman Storm’s trial, the judge appeared more sympathetic toward Uniswap’s developers in a related lawsuit—while taking a tougher stance against Tornado Cash’s devs. Court filings indicate the judge argued it would be illogical to hold software developers liable for strangers’ misuse of neutral infrastructure, classifying Uniswap as “neutral infrastructure” but deeming Tornado Cash to have “engaged in illegal financial activities.” This position signals U.S. courts could weigh whether developers merely provide neutral tools when assessing DeFi infrastructure liability going forward. **Earlier Today** Reports emerged that the U.S. Department of Justice (DOJ) is seeking a retrial for Roman Storm on two charges the initial jury deadlocked on: money laundering and sanctions violations. Prosecutors proposed scheduling the retrial for early October, even as Storm’s motion to ove

March 10 Continuing turmoil in the Middle East has lifted oil prices, boosting potential inflation risks and cooling expectations for Federal Reserve rate cuts. Per CME’s FedWatch Tool, the probability of a 25-basis-point Fed rate cut in March is just 2.6%, while the chance rates will stay unchanged is 97.4%. The likelihood the Fed will hold rates steady through April is 85.3%, with a 14.4% probability of a cumulative 25-basis-point cut and a 0.3% chance of a cumulative 50-basis-point cut. The Fed’s next two FOMC meeting dates are March 18 and April 29.

March 10th: Market sources report Saudi Arabia, the UAE, Iraq and Kuwait have collectively cut crude output by up to 6.7 million barrels per day.

On March 10th, Bitget market data shows the offshore yuan (CNH) against the U.S. dollar gained 0.2060% in intraday trading, briefly breaching the 6.88 level, and was last trading at 6.8788.