WTI Crude Oil Surges 3.2% in Short Squeeze, On-chain Mega Whale Short Positions All Liquidated into Loss

On March 20, The Information reported that cryptocurrency hardware wallet maker Ledger has hired John Andrews—former executive at stablecoin issuer Circle—as its Chief Financial Officer (CFO) to prepare for a potential initial public offering (IPO). Andrews previously served as Head of Capital Markets and Investor Relations at Circle and was involved in the firm’s IPO efforts. Additionally, Ledger is opening a New York office to expand its U.S. business. Andrews noted that the IPO plan may be delayed amid current market volatility.

Google’s Threat Intelligence Group reported on March 20 that a iOS exploit chain named DarkSword is targeting iPhones running iOS 14.4 through 14.7. Attackers are using compromised websites to deploy Ghostblade—a malicious program designed specifically to search for and steal data from cryptocurrency CEX exchanges (including Coinbase, Binance, Kraken, Kucoin, OKX, MEXC) and wallet apps (including Ledger, Trezor, MetaMask, Exodus, Uniswap, Phantom, Gnosis Safe). Additionally, Ghostblade exfiltrates sensitive data including SMS messages, iMessages, contacts, Wi-Fi passwords, geolocation, and chat histories from Telegram and WhatsApp. The malware focuses on rapid data theft—automatically deleting temporary files and terminating its activity once collection is complete. To date, related attacks have been observed in Saudi Arabia, Turkey, Malaysia, and Ukraine.

On March 20, the U.S. Commodity Futures Trading Commission (CFTC) officially announced it has signed its first Memorandum of Understanding (MOU) with Major League Baseball (MLB), establishing an information exchange and cooperation mechanism focused on MLB-related prediction markets. The agreement aims to boost MLB event integrity and collaborate on addressing potential prediction market risks—including preventing fraud, market manipulation, and other misconduct. Under the MOU, the two parties will share information within a legal framework to respond faster to relevant incidents and proactively identify emerging trends. U.S. CFTC Chairman Michael S. Selig noted the move will strengthen prediction markets’ integrity and resilience, and give regulators additional tools to protect market participants.

March 20th — CryptoQuant analyst Darkfost reports that altcoin spot trading volume in March this year has dropped sharply. Binance accounted for roughly $7.7 billion, while other centralized exchanges (CEXs) totaled $18.8 billion — far below the peaks hit in October 2025 and February (Binance: $40–50 billion; other CEXs: $63–91 billion). This trend reflects waning investor interest in altcoins. Drawing on historical data analysis, Darkfost notes that despite the current unfavorable market environment, low trading volume signals a potential opportunity. Historical patterns show that FOMO (fear of missing out) peaks — such as the 2025 local top — often coincide with liquidity exits, whereas periods of lowest investor interest tend to be the most attractive entry points.

March 20 — South Korea’s National Tax Service (NTS) plans to select a private virtual asset custody provider as early as the first half of this year to manage its seized virtual assets, according to ZDNet Korea. The move follows a virtual asset theft incident last month: On February 26, the tax agency accidentally leaked a mnemonic phrase during a press release on on-site inspection results for delinquent taxpayers, leading to two thefts of its seized virtual assets. For provider selection, the NTS will prioritize security requirements, company size, and whether the firm holds insurance under the Virtual Asset User Protection Act. The work is currently led by the “Virtual Asset Management System Enhancement Task Force (TF),” established March 11. Additionally, the NTS intends to negotiate with the Ministry of Public Administration and Security to launch a dedicated “Digital Asset Planning Division” — tasked with overseeing the full lifecycle of virtual asset management, from s

**Hunan Court Convicts 8 in Money Laundering Scheme Tied to Moutai, Crypto** A Chinese court has handed down first-instance sentences to 8 defendants in a money laundering case in Xiangtan’s Yuetang District, Hunan Province, state media reported. The scheme—using Moutai liquor transactions as a cover and cryptocurrency as a channel—was fully dismantled, involving over 6.84 million yuan (≈$950,000) in illicit funds. The gang operated with clear roles: - Chen coordinated with upstream actors via overseas encrypted messaging to receive telecom fraud proceeds, then contacted “U Merchants” to convert funds into crypto. - Xie provided criminal tools and compiled fund details. - Huang used sham Moutai transactions (via legitimate-looking shells) to hide money trails. - Remaining members assisted with fund settlements and information sharing. The group disguised overseas fraud gains as legitimate business income via fake liquor deals, converted them to crypto for upstream acto