Morning Report | Tom Lee predicts that the cryptocurrency winter will end in April; xStocks introduces a new on-chain private equity fund; Sui mainnet upgraded to V1.68.1

整理：ChainCatcher

Important News:

• Sui mainnet upgraded to V1.68.1, protocol upgraded to version 118
• Tom Lee predicts the cryptocurrency winter will end in April
• Tokenization platform xStocks introduces new on-chain private equity fund
• Gnosis and Zisk announce the launch of the "Ethereum Economic Zone" Rollup framework, co-funded by the Ethereum Foundation
• Frequent "precise trading" before Trump's major announcement, experts call for thorough investigation
• Prediction market Kalshi sued in Washington State, accused of illegal gambling

What important events occurred in the past 24 hours?

Gnosis and Zisk announce the launch of the "Ethereum Economic Zone" Rollup framework, co-funded by the Ethereum Foundation

According to ChainCatcher, Gnosis co-founder Friederike Ernst and Zisk founder Jordi Baylina jointly announced the "Ethereum Economic Zone" (EEZ) plan at the EthCC conference in Cannes on Sunday, which is co-funded by the Ethereum Foundation.

The EEZ aims to create a framework for Rollups, allowing smart contracts on connected Rollups to perform composable calls with the Ethereum mainnet and other EEZ Rollups, with security guarantees equivalent to those directly deployed on Ethereum. The framework defaults to using ETH as the Gas token, eliminating the need for additional cross-chain bridge infrastructure. Ernst stated, "Ethereum does not have a scaling problem; it has a fragmentation problem. Every new L2 that goes live has its own liquidity pool and bridging, creating another isolated walled garden."

Founding members of the EEZ alliance include DeFi lending protocol Aave, block builders Titan and Beaver Build, RWA platform Centrifuge, and tokenized stock project xStocks. The project will operate as a Swiss non-profit organization, with all software released as open source, aiming to minimize governance and ultimately achieve non-upgradability. Technical specifications and performance benchmarks are expected to be announced in the coming weeks.

Santiment: Retail sentiment drops to "extreme fear," Bitcoin price may rebound

According to ChainCatcher, Santiment posted on the X platform that Bitcoin's price has fallen to a low of $65,600 for the first time since March 1, with retail traders' sentiment dropping to "extreme fear."

Historically, collective panic sentiment often serves as a necessary factor for a rebound, as market trends typically run counter to public expectations.

Given the high uncertainty regarding the war and the continued low optimism about price declines, a rebound in price may occur.

Frequent "precise trading" before Trump's major announcement, experts call for thorough investigation

According to ChainCatcher, as reported by Jinshi, during Trump's second term, trades that were precisely positioned before major policy announcements may have brought millions of dollars in profits to some traders. Several legal experts stated that these trades should be investigated to maintain market fairness and determine if there was any information leakage.

According to Reuters, suspicious trades appeared in the market before the Trump administration made a series of key decisions regarding tariffs, Venezuela, and Iran. These trades involved various types of markets and assets, such as options, commodity futures, and prediction markets.

Andrew Wostein, an insider trading expert at UCLA School of Law, stated that these trades appear very suspicious. Although the number of cases is limited, these patterns align with expectations—if government officials and their friends trade using information advantages, such situations will arise.

Eitan Gorman, former director of the CFTC's enforcement division and former federal prosecutor, stated that such trades typically attract regulatory attention, although insider trading laws in the commodity markets are complex, and there are relatively few precedents in this area.

Opinion: If the CLARITY Act fails to pass, the U.S. government may strengthen crypto regulation in the future

According to ChainCatcher, Peter Van Valkenburgh, executive director of Coin Center, stated that if the CLARITY Act, which structures the crypto market, fails to pass, a future unfriendly U.S. government may again strengthen regulation of the crypto industry. If the legislation regarding developer protections in the CLARITY Act and the Blockchain Regulatory Certainty Act is rejected in favor of short-term business interests and the current regulatory environment, the industry may face adverse conditions.

Peter Van Valkenburgh indicated that the purpose of the CLARITY Act is to legally bind future governments rather than rely on the current government's attitude; without relevant legal protections, the crypto industry may be affected by enforcement discretion, policy changes, and uncertainty. He disclosed that the CLARITY Act has stalled in the Senate due to disagreements among banks, crypto companies, and legislators over key provisions (including whether to allow stablecoin yields). The bill covers frameworks for crypto intermediary registration, digital asset regulation, and token classification.

Furthermore, in the absence of legislative clarity, future government justice departments may strengthen enforcement against privacy tool developers, treating them as unregistered money transmitters, while existing regulatory interpretive guidance may also be withdrawn. Previously, former SEC Chairman Gary Gensler faced criticism from the industry for promoting policy through enforcement actions and settlements with crypto companies rather than formal rule-making. Since he stepped down on January 20, 2025, the SEC has withdrawn several long-standing enforcement cases against crypto companies and issued more lenient regulatory guidance.

Prediction market Kalshi sued in Washington State, accused of illegal gambling

According to ChainCatcher, Greekwire reported that Washington State Attorney General Nick Brown has filed a civil lawsuit against prediction market platform Kalshi, accusing it of violating state betting and consumer protection laws by offering betting services on events such as sports, elections, and wars. The lawsuit has been submitted to King County Superior Court, seeking to prohibit Kalshi from operating locally, recover residents' lost funds, and impose civil penalties. Kalshi's advertisements previously suggested that users could bypass local laws to participate in NFL betting, indicating that they "knowingly violated" the law.

However, Kalshi responded that it is a compliant trading platform regulated at the federal level, denying the provision of war-related markets and expressing confidence in winning the legal battle. This is reportedly another regulatory action the company is facing, as it is currently involved in over 20 civil lawsuits, and the Arizona prosecutor has previously filed criminal charges against it, considered the first criminal case against a prediction market.

Sui mainnet upgraded to V1.68.1, protocol upgraded to version 118

According to ChainCatcher, Sui announced that the mainnet has been upgraded to V1.68.1, and the protocol has been upgraded to version 118.

The main content of this upgrade includes enabling address aliases on the mainnet, enhancing metadata security in the Sui System, and fixing an issue that could cause full nodes to crash when simulating transactions containing invalid fund withdrawals.

Tokenization platform xStocks introduces new on-chain private equity fund

According to ChainCatcher, Cointelegraph reported that tokenized stock platform xStocks has partnered with alternative investment firm Fundrise to put its newly launched Fundrise Innovation Fund on-chain.

It is reported that the closed fund's portfolio includes private stocks of tech companies such as Anthropic, Databricks, and SpaceX. Its price skyrocketed from the initial $31 per share to $575 within just a few days after its listing on March 19.

However, short-selling institutions pointed out that Fundrise may be under investigation by the SEC due to its paid solicitation activities. The stock closed at $173 this week, down nearly 34% on Friday, and fell another 5.9% in after-hours trading.

Peter Schiff questions crypto mortgages: double interest may raise home buying thresholds and increase default risks

According to ChainCatcher, economist Peter Schiff posted on the X platform, stating that the structure of crypto asset-backed mortgages could significantly increase home buying costs.

Borrowers would not only have to pay traditional mortgage interest but also bear the interest on a "second loan" secured by crypto assets, which essentially amounts to 100% financing for the property, thereby amplifying leverage levels and potentially increasing overall default risks.

Singapore man sentenced to two years in prison for assisting in the illegal transfer of $6.5 million in crypto assets

According to ChainCatcher, a man in Singapore was sentenced to two years in prison for assisting a former colleague in illegally transferring and laundering approximately 8.83 million Singapore dollars (about $6.5 million) in crypto assets.

The case shows that three former employees, after leaving due to disputes, hacked into their original company DLT Ltd's crypto trading platform SafeX accounts and transferred funds in three batches between June and August 2025. The involved parties received funds through their wife's account, exchanged them multiple times for Bitcoin and stablecoin USDT, and dispersed them into multiple wallets to cover the flow, with some funds already cashed out for personal expenses. One of the involved parties is still at large.

Lista DAO updates on USR incident progress, has repaid $8.4 million in loans, risks nearly fully resolved

According to ChainCatcher, Lista DAO released an update on the progress of the Resolv Labs stablecoin USR security incident on the X platform, disclosing that it previously involved a total of $8.6 million in related loans, of which $8.4 million has been repaid, and all positions have been fully redeemed at a 1:1 dollar value, with no losses incurred by users or the protocol.

Currently, only one position of approximately $26,000 remains unpaid, and Lista DAO urges relevant users to contact the official or Resolv Labs as soon as possible to complete repayment and close the position.

Tom Lee predicts the cryptocurrency winter will end in April

According to ChainCatcher, Bitmine chairman Tom Lee stated in an interview that the current "small cryptocurrency winter" is about to end. He believes that this downturn may have bottomed out or will end before April 2026.

He pointed out that the recent price movements of Ethereum show a strong correlation with the past declines of the S&P 500 index, including the 1987 stock market crash and the 2011 debt ceiling crisis.

Currently, long-term holders continue to hold their positions, while exchange balances are declining. These signals typically align with the accumulation phase near market bottoms.

Previously, BitMine increased its holdings by over 65,000 ETH in late March, bringing its total holdings to over 4.6 million.

Arkham: Satoshi still holds the largest share of Bitcoin, approximately 1.096 million Bitcoins

According to ChainCatcher, data from Arkham Intelligence shows that at the beginning of 2026, the largest single holder of Bitcoin globally remains Satoshi Nakamoto (holding approximately 1.096 million Bitcoins), followed closely by major exchanges, ETF issuers, governments, and publicly traded companies. Among them:

In terms of exchanges, wallets controlled by Coinbase hold approximately 982,000 Bitcoins, accounting for about 5% of the total circulating Bitcoin; Binance holds approximately 655,000 Bitcoins, accounting for about 3.3% of its total wallet supply.

In terms of institutions, BlackRock leads among all ETF issuers, holding 775,000 Bitcoins in its spot Bitcoin ETF; Fidelity Custody holds 460,000 Bitcoins, while Grayscale, Bitwise, and ARK Invest also hold significant on-chain positions.

In terms of governments, the U.S. government manages 328,000 Bitcoins across multiple wallets; the UK controls 61,245 Bitcoins; El Salvador holds approximately 7,500 Bitcoins; and Bhutan holds approximately 5,400 Bitcoins.

Among publicly traded companies, Strategy reports that it holds 738,000 Bitcoins; mining company MARA claims its inventory of Bitcoins is 53,200; Metaplanet holds 35,100 Bitcoins.

Additionally, Tether holds 96,300 Bitcoins verified on-chain; SpaceX holds approximately 8,300 Bitcoins; Block.one claims to own approximately 164,000 Bitcoins.

Meme Popularity Rankings

According to the meme token tracking and analysis platform GMGN market data, as of March 30, 09:00,

The top five popular tokens on ETH in the past 24 hours are: HEX, SHIB, LINK, PEPE, UNI

The top five popular tokens on Solana in the past 24 hours are: swarms, Punch, PANDU, VDOR, APPLE

The top five popular tokens on Base in the past 24 hours are: SKITTEN, PEPE, BASED, B3, SKYA

What are some interesting articles worth reading in the past 24 hours?

A decade-long personal feud: Without OpenAI's "hypocrisy," there wouldn't be the world's strongest AI company, Anthropic

Wall Street Journal reporter Keach Hagey published a lengthy investigative report, revealing for the first time the decade-long personal feud between Anthropic and OpenAI founders through extensive interviews with current and former employees and executives of both companies. Shaping the global AI landscape is not just a technological rivalry but also a personal trauma that has never healed.

Dario Amodei's internal rhetoric in recent months has been much more intense than in public. He compared Sam Altman's legal disputes with Elon Musk to "Hitler vs. Stalin," calling OpenAI president Greg Brockman's $25 million donation to a pro-Trump super PAC "evil," and likening OpenAI and other competitors to "tobacco companies that knowingly sell harmful products."

Who holds the most Bitcoin in 2026

If different wallets are merged into a single entity, Bitcoin's anonymous creator Satoshi Nakamoto is the largest holder, with 1.096 million Bitcoins (approximately $77 billion). Arkham's label comes from a known mining pattern called the "Patoshi pattern" and includes the only (known) address where Satoshi spent Bitcoin. Research shows that he obtained this Bitcoin as a reward for mining 22,000 blocks.

In terms of individual addresses, the wallet holding the most Bitcoin is Binance's cold wallet, which holds nearly 250,000 Bitcoins. You can also check the entities holding the most Bitcoin. An entity refers to a collection of crypto addresses confirmed to be controlled by the same person or institution (such as an exchange, DeFi protocol, or company).

Bitcoin is a decentralized digital currency that runs on a blockchain (a peer-to-peer network). Due to these characteristics, no one truly owns the entire Bitcoin network, but individuals can access and own Bitcoin through their private keys.

Bitcoin prices surged significantly, reaching approximately $126,000 in October 2025, with a market cap peak of $2.48 trillion, creating multiple Bitcoin billionaires and other wealthy holders. In this article, we will examine some individuals, companies, and wallets that have become crypto whales based on on-chain data and their own public statements, and investigate the amount of Bitcoin they hold.