During the S&P 500 rally, "Trader 0xRay" strategically positioned a short trade at a peak, with a scale of up to $9.35 million.

March 31 — Per Cointelegraph, Dubai’s Virtual Asset Regulatory Authority (VARA) has rolled out a new regulatory framework for cryptocurrency exchange-traded derivatives (ETDs), laying out guidelines for licensed crypto firms in the emirate to offer these products. Detailed in VARA’s *Trading Platform Services Rulebook* (Version 2.1), the framework covers requirements including customer suitability, leverage and margin controls, asset segregation, disclosure standards, and regulatory intervention authority. VARA noted the framework applies to licensed Virtual Asset Service Providers (VASPs) offering trading platform services in Dubai. The update creates a more formal regulatory guardrail in Dubai’s high-risk crypto market and expands beyond spot trading as it broadens the emirate’s trading rules.

According to Jiemian News, Guotai Junan Securities announced on March 31 that Ant Wealth has successfully acquired a 50.55% stake in the company for HK$2.814 billion and completed the equity transfer. All required regulatory approvals and transfer conditions have been met prior to this. Public records show Guotai Junan Securities was founded by Ye Maolin in 1995. Listed on the main board of the Hong Kong Stock Exchange (HKEX) in 2010, the firm holds Securities and Futures Commission (SFC) licenses 1, 2, 4, 5, 6, and 9. Its core businesses include securities brokerage, margin financing and securities lending, commodities and futures brokerage, and spot foreign exchange trading. It is the only trading firm in Hong Kong to pioneer real-time trading volume and pricing.

On March 31, Farside monitoring data showed U.S. Bitcoin spot ETFs recorded a net inflow of $69.4 million yesterday, while Ethereum spot ETFs saw $5 million in net inflows.

On March 31, Nikkei Asia reported that Mitsubishi Corp will soon begin using JPMorgan’s blockchain technology for global fund transfers, enabling real-time payments via the service. JPMorgan is also seizing this opportunity to introduce more Japanese businesses to its blockchain payment product.

March 31 — Federal prosecutors in Manhattan are investigating whether high-yield wagers on prediction markets constitute insider trading or other legal violations, CNN reported Wednesday, citing multiple sources. Sources say the head of the Securities and Commodities Fraud Section at the U.S. Attorney’s Office for the Southern District of New York recently met with Polymarket representatives to discuss how existing laws apply to potential misconduct in the fast-growing industry. The U.S. Department of Justice will target high-profile, high-yield bets — marking an escalation of regulatory scrutiny in the sector, which has expanded rapidly over the past year amid limited federal oversight.

**March 31** Per HyperInsight monitoring (link: https://t.me/HyperInsight), the panic sparked by Google’s research paper continues to escalate—compounded by multiple geopolitical conflicts—pressuring the broader semiconductor sector. - Micron Technology (MU): Closed sharply down 9.9%, with an additional >2.3% drop in after-hours trading. - SanDisk (SNDK): Combined >9% decline in regular and post-market sessions. - NVIDIA (NVDA): Pulled back 2.4% intraday; the entire sector faced setbacks. Against this backdrop, the largest long whale—the *Continue Capital affiliated address* (holding heavy semiconductor positions in NVDA and MU)—at one point saw two of its long positions near liquidation thresholds. Its positions were just 1.6% away from liquidation at the low, making it the closest such address to liquidation among whales with >$1M in holdings. Total floating losses have widened to $2.32M, while the address still holds $13.1M in unclosed long positions: - 5x leveraged