Hyperliquid liquidation contributes to market uncertainty

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For a moment there, it really looked like Solana prices might hold. We saw a strong weekend rally, with SOL tapping $146 on Monday — its highest since the local top in early March, for what it’s worth — before retreating slightly on Tuesday.

But as of this afternoon, the price has fallen sharply to $137.

I think it’s fair to speculate that this drop was triggered (at least partially) by one of the year’s more chaotic memecoin events. It began when a trader opened a massive $6 million short position on JELLYJELLY — a thinly-traded token tied to the Jelly-My-Jelly video app,…

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LATEST: Congressman Emmer Proposes Securities Clarity Act for Digital Assets

Congressman Tom Emmer and Rep. Darren Soto reintroduced the Securities Clarity Act on March 26 to clear up confusion over digital asset classification. This bipartisan effort aims to separate “investment contracts” from the underlying digital assets to reduce regulatory uncertainty. The bill hopes to bring clarity to a rapidly evolving space.

The legislation would introduce the term “investment contract asset” to distinguish the asset from its related investment contract. This would allow for more flexible regulation as digital assets grow in utility and decentralization. Emmer emphasized that clear definitions would help entrepreneurs innovate without the risk of non-compliance.

The Securities Clarity Act’s reintroduction shows strong legislative momentum. It aligns with the push to modernize digital asset regulations under President Trump’s administration. Both parties see this bill as a crucial step toward balancing investor protection with innovation in blockchain technology.

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LATEST: Adam Back’s The Blockchain Group Secures 580 Bitcoin Acquisition

The Blockchain Group has made a significant step in its Bitcoin strategy by acquiring 580 Bitcoin worth $50 million. This acquisition is its largest to date since the company adopted a Bitcoin treasury strategy in November 2024. The company now holds a total of 620 BTC valued at around $54 million. This purchase was funded through proceeds from a convertible bond issue announced earlier in March.

This move highlights the company’s commitment to Bitcoin as a long-term store of value. The Blockchain Group is focused on maximizing Bitcoin per share through strategic accumulation using excess cash flow and capital raises. Their goal is to never sell Bitcoin but hold it indefinitely to increase shareholder value over time.

The company’s strategy follows the playbook of successful Bitcoin treasury firms. Alexandre Laizet the Deputy CEO believes Bitcoin adoption will grow over the next 10 to 15 years. He envisions Bitcoin as central to the future of finance with traditional markets transitioning to blockchain and stablecoin systems.

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