Grayscale has filed an S-1 amendment for its Bittensor (TAO) trust with the U.S. Securities and Exchange Commission, a vehicle that allows investors to gain TAO exposure in the form of securities. The trust carries risks of premium/discount and liquidity restrictions, and has not yet met its goal of tracking the TAO price. This filing could be an important step toward a regulated investment product or an ETF. As attention to technical breakthroughs in the Bittensor ecosystem grows, institutional demand is also increasing.

Delphi Ventures co-founder José Maria Macedo recently shared his observations after an in-depth two-week visit to China’s AI ecosystem. During his trip, he met extensively with the founders in China’s AI space, venture capital firms, and CEOs of public companies. He set out with fairly optimistic expectations, believing that China not only has world-class AI talent, but that valuations still offer a clear discount compared with Western markets. However, after actually visiting, his assessment shifted to a more complex conclusion: compared with before the trip, he is more optimistic about China’s hardware strength but more cautious about the outlook for software. At the same time, he also revised his understanding of the characteristics of China’s entrepreneurs. While China has top-tier talent, Shenzhen’s hardware advantages, and a complete supply chain, original, founder-led entrepreneurs are scarce. China’s AI software capability still lags behind the West, and the valuation bubble as well as the humanoid robotics boom are even more worthy of investor vigilance. New venture investors admit:

Key Takeaways: Crypto ceased to be met with skepticism but real financial infrastructure, according to the views expressed by Ripple CEO Brad Garlinghouse Large international organizations are currently seeking to venture into using stablecoins and digital assets He cautions against

Representatives from the digital asset industry reportedly met with the Senate Banking Committee on March 23 to review a White House-backed compromise—led by Sens. Tillis and Alsobrooks—on stablecoin rewards intended to revive the stalled CLARITY Act. The ‘Passive vs. Active’ Yield Pivot Represe

Iran announced to the International Maritime Organization on March 24 that vessels not under U.S. or Israeli flags and not participating in military operations can safely transit the Strait of Hormuz, but the actual situation remains unclear, and many shipping companies may not resume passage as a result. Since the outbreak of the war, the number of transiting vessels has plummeted, regional security remains tense, alternative pipeline capacity is limited, and confidence in the reopening remains at the diplomatic level.

Decentralized governance platform Tally is shutting down after over five years due to an unsustainable business model for governance tooling in crypto. Despite significant achievements, demand for specialized governance applications has not met expectations.

The US February Consumer Price Index met expectations, prompting Bitcoin prices to rebound to around $70,000. The CPI report reduced market uncertainty regarding the Federal Reserve's interest rate decisions, which is favorable for risk assets. Despite global market pressures, Bitcoin continues to benefit from short-term sentiment improvement, but rising energy prices could reignite inflation and impact liquidity. $72,000 is an important resistance level for Bitcoin; a breakthrough is needed for further upward movement.

Ripple's Chief Legal Officer, Stuart Alderoty, met Senator Gillibrand to discuss bipartisan digital asset regulation, praising her leadership on cryptocurrency legislation amid Ripple's ongoing legal challenges with the SEC over XRP classification.

President Trump of the United States has, for the first time in the "National Cybersecurity Strategy," included cryptocurrencies and blockchain technology within the scope of protection, emphasizing the need to establish secure supply chains to protect user privacy. Additionally, the government has committed to promoting post-quantum cryptography to address potential quantum computing threats. However, despite the friendly policies, the number of addresses holding over $1 million in Bitcoin has still significantly decreased, indicating that market response has not met expectations.

U.S. Treasury Secretary Scott Bessent and El Salvador's President Bukele met to discuss economic reforms and cryptocurrency strategy at the "Shield of the Americas" summit. Bessent praised Bukele's pro-market initiatives, despite previous tensions over Bitcoin's legal status and a recent amendment to reduce crypto's role due to financial challenges.