Daily Alpha and Summary. March 21, 2025

DeFi

Stablecoin total market cap hits record $230B

TON Foundation secured over $400M in token sale from VCs Sequoia Capital, Ribbit, Benchmark, and Kingsway

Web3 storage infra Walrus Foundation raised $140M led by Standard Crypto

BlackRock’s BUIDL AUM on Polygon has surpassed $30M

Canary Capital filed for Pengu ETF

State of the Market

MoonPay secured $200M credit line from Galaxy to help surges in retail trading: etc Trump meme frenzy. Background: Moonpay struggled to secure $160M amid high demand outside traditional banking hours, with Galaxy and Ripple stepping in. Now, this $200 million will help them handle future liquidity and transaction spikes.

Canary Capital filed for Pengu ETF

Japanese company, the world’s 10th BTC holder Metaplanet appointed Eric Trump to join Strategic Board of Advisors

Hyperliquid Whale is a scammer

Kraken acquired CFTC-registered U.S. trading platform NinjaTrader for $1.5B for the largest ever crypto and tradfi deal

BlackRock purchased $172M in BTC yesterday for its spot Bitcoin ETF