KAITO sees a brief 6% drop, currently trading at $1.3450

On March 18th, based on hypurrscan data, the "50x Leverage Whale" previously established a 40x short position on Hyperliquid for BTC at $83,923.2 when the price of Bitcoin was $83,923.2. As Bitcoin witnessed a slight upward rebound along with leverage funding costs, the position is now in a floating loss state, and the estimated liquidation price is $85,565. Before this, a "Whale Hunting Operation" targeting the Hyperliquid 50x Leverage Whale has already commenced, and there is a possibility that Justin Sun may participate in this effort.

On March 18th, U.S. President Trump made a post on Truth Social, announcing the appointment of Michelle Bowman, who is currently a member of the Federal Reserve Board, as the new Vice Chair for Supervision of the Federal Reserve.

On March 18th, according to the report in TechCrunch, Elon Musk's xAI has officially acquired the AI video generation startup Hotshot. This startup focuses on developing AI video generation technology similar to OpenAI's DALL-E. Hotshot announced on its website that it has stopped providing new video production services since March 14th. It is currently unclear whether all Hotshot employees will join xAI.

On March 18th, the cryptocurrency exchange Gemini appointed Dan Chen as its new Chief Financial Officer (CFO), likely in anticipation of an upcoming initial public offering (IPO). Chen previously held the position of Vice President of Capital Markets at Affirm and stated, "Cryptocurrency is the most dynamic industry within the financial sector, and Gemini is at the forefront of this revolution, enabling users to participate in the digital asset market in a straightforward and secure manner."

On March 18th, TRON DAO made an announcement. It stated that the TRON network is expected to generate an annual revenue of more than $2 billion by 2024, with a year-on-year growth rate of 116%. Furthermore, TRON has completely burned the TRX transaction fees, making it one of the few blockchains with deflationary characteristics.

On March 18th, according to Decrypt, the Bitcoin mining firm Bitfarms has announced the accomplishment of its acquisition of Stronghold Digital Mining. The deal is valued at $175 million, with $125 million in equity. Bitfarms stated that this acquisition will assist the company in optimizing operations by making use of the newly acquired data centers and will provide computing resources to an AI company, thereby promoting its growth in high-performance computing and AI. This acquisition not only raised Bitfarms' market valuation but also made it more difficult for its competitor, Riot Blockchain, to acquire it. Since 2023, Riot has been trying to acquire Bitfarms, and this transaction may enhance Bitfarms' position in the industry consolidation.